Friday , October 22 2021

Tag Archives: Nigerian banking system

CBN Announces N1 Million as Application Fee for Payments Service Holding Companies Licence

CBN Unveils Guidelines for Credit Guarantee Companies, Sets N10 Billion as Capital Base

Central Bank of Nigeria (CBN) has released guidelines for the establishment and regulation of payments service holding companies (PSHCs) in Nigeria. Musa Jimoh, CBN’s Director of Payments System Management Department announced this in a circular on Tuesday. The guideline requires companies that intend to offer both switching and processing, and …

Read More »

CBN Orders Seizure of Loan Defaulters Funds Across Banks

… As GSI guidelines takes effect 1st August The Central Bank of Nigeria (CBN) moved a step ahead of bank loan defaulters with a new guideline that allows seizing of their funds in other accounts. According to the Asset Management Corporation of Nigeria (AMCON), 105 debtors were responsible for about …

Read More »