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MTN Bows to Pressure, Suspends USSD Charges

MTN Bows to Pressure, Suspends USSD Charges

MTN Nigeria has confirmed that it has suspended its plan to implement charges around the Unstructured Supplementary Service Data (USSD) code being used for bank transactions. The suspension came on the heels of the directive…

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USSD Transactions: Banks Deny Directing MTN To Charge Customers

USSD Transactions: Banks Deny Directing MTN To Charge Customers

A body of Bank Chief Executive Officers in Nigeria has washed its hands clean from the purported message sent by Telecoms Giant, MTN that it had directed them to start charging customers for USSD transactions.…

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CBN ‘s Forex Restrictions Not Impeding Investments —Emefiele

CBN ‘s Forex Restrictions Not Impeding Investments —Emefiele

The Governor of Central Bank of Nigeria, Mr Godwin Emefiele on Sunday said that the current foreign exchange restriction policy of the apex bank was not restricting investment inflows into the country. The Governor said…

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Just In: MTN Begin Charges On USSD Voice, Text Messages

Just In: MTN Begin Charges On USSD Voice, Text Messages

MTN Nigeria says it will go ahead to charge its customers for Unstructured Supplementary Service Data (USSD) voice or text message which allows them access to bank services via their mobile phones. The telecom said…

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N98.82m Fake Banknotes Detected In 2018 —CBN

N98.82m Fake Banknotes Detected In 2018 —CBN

The Central Bank of Nigeria on Wednesday said a total of 119,663 pieces of counterfeit notes with a nominal value of N98.82m was recorded in 2018. The bank said this in the Currency Operations 2018…

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Moghalu Quits YPP, Makes Case For Electronic Voting

Moghalu Quits YPP, Makes Case For Electronic Voting

By Augustine Akhilomen Former Presidential candidate of the Young Progressive Party (YPP) in the 2019 general elections, Prof. Kingsley Moghalu, has resigned his membership from the party. He made the announcement on Monday via his…

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Why Nigerian Government Dependent On Expensive Borrowing –IMF

Why Nigerian Government Dependent On Expensive Borrowing –IMF

The International Monetary Fund has said that Nigeria’s “over-Optimistic” revenue assumptions has made the government dependent on expensive borrowing from the Central Bank of Nigeria. The IMF stated that plans to increase Value Added Tax…

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CBN Injects $8.287bn In Forex Market In Six Months

CBN Injects $8.287bn In Forex Market In Six Months

The Central Bank of Nigeria (CBN) injected a total of $8.287 billion in the interbank foreign exchange (forex) market in the first six months of 2019. The central bank, which disclosed this in its ‘Half…

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CBN’s Aggressive Loan Policy Could Worsen State of Banks –Expert

CBN’s Aggressive Loan Policy Could Worsen State of Banks –Expert

The determined drive by the Central Bank of Nigeria to mandate commercial banks to increase lending to the agriculture, manufacturing, SME sectors of the economy could worsen the quality of assets in the Nigerian banking…

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CBN To Charge Banks $1.3 bln For Failing To Meet Loan Deadline

CBN To Charge Banks $1.3 bln For Failing To Meet Loan Deadline

Central Bank of Nigeria (CBN) plans to charge 12 banks a total of more than 400 billion naira ($1.3 billion) for failing to meet its minimum loan-to-deposit ratio requirement by a September deadline, three banking…

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