Punishment: Nigerian Banks To Charge Customers For Failed Transactions On Direct Debits

LAGOS NOVEMBER 21ST (NEWSRANGERS)-The Central Bank of Nigeria (CBN) instructed banks in December 2019 to start punishing customers for failed direct debit transactions caused by the customer’s failure to fund their account. According to the guide, effective as of January 1, 2020, the customer will be charged 1% of transaction amount, or N5,000, whichever is…

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Access Bank Customers In Panic Withdrawals As Hacker Gain Access To Its Database

LAGOS SEPTEMBER 1ST (NEWSRANGERS)-Access Bank Plc customers are carrying out panic withdrawals following hacker Ihebuzo Chris’ claim that he hacked into the bank’s database, accessed, and extracted data of over 2,000 customers. According to Chris, he did this without authorization from the bank as he, in a viral video, presented print out of customers’ accounts,…

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