In a significant move, the Central Bank of Nigeria (CBN) has introduced new minimum capital requirements for banks, aiming to bolster their financial stability and enhance their capacity to support the Nigerian economy. Here are the key details: New Capital Thresholds: Implementation Timeline: Strategies for Compliance: The CBN encourages banks to explore various avenues to Read More…
Nigerian stocks extended gains for the fifth session on Monday, led by banks to push the main index past a psychological threshold of 80,000 points for the first time ever, according to LSEG data. The All Share Index closed 0.83% up at a record 80,328.58 points. “Stocks have leapt 6.5% in early 2024 trading, extending Read More…
Banks’ Unstructured Supplementary Service Data (USSD) debt has increased to N80 billion from the N42billion reported in 2021 the Association of Licensed Telecommunications Operators of Nigeria (ALTON) has said. Mr. Gbenga Adebayo, the President of ALTON, divulged this at the ICT Growth Conference 2.0 organised by the Nigeria Information Technology Reporters Association (NITRA), on Thursday in Lagos. Read More…
An unresolved squabble between banks and Mobile Network Operators (MNOs) over accumulated service debt may cause consumers to stop enjoying the use of Unstructured Supplementary Service Data (USSD) codes otherwise known as shortcodes from Monday, 15th March. In a press statement issued by the MNOs under the umbrella of the Association of Licensed Telecommunications Operators Read More…
