Thursday , February 6 2025

Tag Archives: Central Bank of Nigeria (CBN)

How to Make PoS Registration a Win-Win for Nigeria’s Financial Future

How to Make PoS Registration a Win-Win for Nigeria's Financial Future

By Elvis Eromosele The Central Bank of Nigeria (CBN) recently mandated that all Point of Sales (PoS) operators complete their registration with the Corporate Affairs Corporation (CAC) by July 7, 2024. This directive aims to formalize the operations of PoS businesses across the country, boosting regulatory compliance and promoting financial inclusion.   However, …

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REMITA Was Selected Based on Merit – CBN

REMITA Was Selected Based on Merit – CBN

The Director of Banking Services, Central Bank of Nigeria (CBN), Hamisu Abdullahi, highlighted the merit-based selection of Remita to provide an electronic platform essential for facilitating payments from Ministries, Departments, and Agencies (MDAs) to beneficiary accounts across commercial banks. He said this when officials of the Central Bank of Nigeria …

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CBN Increases Interest Rate to 24.75%

CBN Increases Interest Rate to 24.75%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has hiked the benchmark interest rate by 200 basis points to 24.75 percent. This is according to a Tuesday communique by the CBN governor Yemi Cardoso after the second MPC meeting of his tenure in Abuja. The new …

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First Bank Holdings to Raise N150 Billion Additional Capital Raise

First Bank Holdings to Raise N150 Billion Additional Capital Raise

First Bank Holding Plc, one of the nation’s premier commercial banks will seek shareholders’ approval to raise N150 billion additional capital at the group’s Annual General Meeting (AGM) scheduled for August 15, 2023. This was contained in the group’s amended notice of the annual general meeting seen by Nairametrics. According …

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Interswitch Secures CBN Payment Service Holding Company (PSHC) License

Interswitch Secures CBN Payment Service Holding Company (PSHC) License

…Restates strong commitment to enabling Africa’s payment ecosystem. Interswitch Group (‘Interswitch’ or ‘The Company’), one of Africa’s leading financial technology and integrated payments solution providers has announced receipt of a Payments Service Holding Company (PSHC) License issued by the Central Bank of Nigeria (CBN). This follows an earlier announcement by …

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