THE assessed continuous growth in Internet fraud may have cost the Nigerian banking sector about N40 billion losses in 2013 alone. The Chief Information Security Officer, Central Bank of Nigeria (CBN), Taiwo Longe, disclosed this unsavoury development in a presentation during a two-day National Cyber security Forum organised by the Office of the National Security […]
THE Central Bank of Nigeria (CBN) has commenced a zero tolerance regime against bad debtors in the nation’s financial system, with fresh tightening of rules that would bring defaulters to book and stem the tide of serial defaults Indeed, banking supervision, both off and on site would be enhanced by the apex bank under the […]
Indications have emerged that most Deposit Money Banks (DMBs) still charge their customers N3 per N1,000 Commission on Turnover (COT), despite a Central Bank of Nigeria (CBN’s) directive which stipulated N2 COT for 2014. To this effect, the apex regulator has ordered the affected DMBs to refund such illegal fees charged customers over a period […]