LAGOS MARCH 16TH (NEWSRANGERS)-The Central Bank of Nigeria has introduced new charges for customers using the Unstructured Supplementary Service Data services. The apex bank said effective Tuesday, customers will pay a flat fee of N6.98 per transaction every time they use USSD services. It said the new charges was part of the agreement reached when…
LAGOS MARCH 8TH (NEWSRANGERS)-After injecting over four hundred billion naira into Polaris bank by the Central Bank of Nigeria in 2018, the apex bank has finally concluded arrangements to cede it to a prefered bidder. This medium exclusively gathered that a first generation bank with strong presence in the financial inclusion market has emerged as…
LAGOS FEBRUARY 12TH (NEWSRANGERS)-On Tuesday evening, James Chijindu went to a mall in Lagos to grab a meal and groceries. When it came time to pay, his Guaranty Trust Bank and First Bank debit cards were unresponsive. So he called a GTBank helpline and the message was clear; Chijindu’s account was closed in accordance with…
LAGOS FEBRUARY 10TH (NEWSRANGERS)-Following the Central Bank of Nigeria’s letter prohibiting banks from dealing in cryptocurrencies and closing down of suspected bank accounts, the Digital rights Lawyers Initiative (DRLI) has approached the Federal High Court challenging the said ban. In Suit No. FHC/L/CS/ 188/2021, DRLI sued the Central Bank of Nigeria and Securities and Exchange…
LAGOS FEBRUARY 7TH (NEWSRANGERS)-Former Vice President Atiku Abubakar has advised the Federal Government to have a rethink on its directive on cryptocurrency transactions in the country. This advice, which was contained in a statement on Saturday, was in reaction to the directive of the Central Bank of Nigeria (CBN) to banks and other financial institutions…
LAGOS FEBRUARY 7TH (NEWSRANGERS)-Finance has temporarily suspended deposits in Nigerian naira – the country’s local fiat currency – in response to a Friday letter from Nigeria’s central bank (CBN) instructing local banks to identify and close all accounts tied to cryptocurrency platforms or operations. The CBN letter told local banking institutions that dealing in cryptocurrencies…
LAGOS FEBRUARY 5TH (NEWSRANGERS)-The Central Bank of Nigeria on February 5, 2021, released a statement signed by the Director of Banking Supervision Bello Hassan and the Director of Payments System Management Department Musa I. Jomoh, prohibiting financial institutions in Nigeria from dealing in cryptocurrencies or facilitating payments for cryptocurrency exchange. Meaning all trading of cryptocurrency…
LAGOS DECEMBER 15TH (NEWSRANGERS)-Shema is multi-millionaire oil mogul. His mother was recently kidnapped. The kidnappers demanded for 100 million Naira as ransom. After tough negotiations, 20 million naira was agreed upon as ransom. The kidnappers also gave condition that the ransom should be mint; new notes. The millionaire approach CBN. He got new money to…
