LAGOS OCTOBER 7TH (NEWSRANGERS)-The Central Bank of Nigeria has released updated saving deposit interest rates for various Deposit Money banks (DMBs). According to CBN, banks now offer an average savings deposit rate of 8.03% compared to the previous average rate of 7.88%. A savings rate is the interest rate Nigerian banks pay their customers to…
LAGOS AUGUST 3RD (NEWSRANGERS)-As the the nationwide protests across the country continues to rage on, traders in most Lagos markets might have taken to just sit and watch. The situation in Tradefair complex is almost same for Alaba, Ladipo, Computer Village and others remain sealed. Cities like Lagos, Port Harcourt in Rivers State, and Benin…
LAGOS JULY 19TH (NEWSRNAGERS)-A major technology outage grounded flights, hampered public transit systems and disrupted operations at banks and hospitals around the globe Friday in an incident a cybersecurity firm blamed on a faulty system update. CrowdStrike, a U.S. firm that advertises being used by over half of Fortune 500 companies, said one of its…
LAGOS FEBRUARY 9TH (NEWSRANGERS)-The Nigerian Senate has uncovered $400 million in intervention funds domiciled in banks and other financial institutions for a couple of years. This was disclosed by the lawmaker representing Kogi Central and the Chairman of the Senate Committee on Local Content, Senator Natasha Akpoti-Uduaghan, during a session with the Nigerian Content Development…
LAGOS DECEMBER 2ND (NEWSRANGERS)-Bank customers have said that they are unable to withdraw their deposits for transaction in yuletide season in Ondo State, as the banks have slashed their withdrawal limits across the state. Investigation revealed that many customers could not withdraw the amount they needed over the counter due to a lack of adequate…
LAGOS MARCH 28TH (NEWSRANGERS)-Commercial banks are set to raise their cash withdrawal limits from the current N20,000-N50,000 range to over N80,000-N100,000, according to multiple bank officials. The move, it was learnt, would help bank branches to tackle lingering queues in some cities across the country. The Central Bank of Nigeria had on Friday directed commercial…
LAGOS FEBRUARY 22ND (NEWSRANGERS)-A Grade Level 13 officer with the Lagos State University(LASU) Ojo, Mr Ademola Adesola has reportedly slumped and died while queuing in a bank within the university to withdraw N5,000 of new notes as officially pegs by the bank for an individual account holder. The Head of the Publicity and Public Relations…
LAGOS FEBRUARY 17TH (NEWSRANGERSThe United Kingdom, through its Foreign, Commonwealth and Development Office, has issued safety advisories to its citizens in Nigeria and those travelling into Nigeria following the Central Bank of Nigeria naira redesign policy. In its updated advisories on Wednesday, the country urged its citizens in Nigeria and those travelling into the country…