The Central Bank of Nigeria (CBN) has been given 14 days ultimatum by the House of Representatives to remit N3.64 trillion unpaid operating surplus to the Federal Government The House of Representatives has issued a 14-day ultimatum to the Central Bank of Nigeria (CBN) to remit ₦3.64 trillion to the Federal Government, representing 70 percent of an outstanding ₦5.2 trillion in unpaid operating surplus for the period covering 2016 to 2022. This directive followed a...
The CBN has been directed to suspend its new ATM transaction charges pending proper engagement with relevant House Committees The House of Representatives has directed the Central Bank of Nigeria (CBN) to suspend the implementation of its policy on the new Automated Teller Machine (ATM) transaction charges and the stoppage of free ATM withdrawals for customers using other banks’ ATMs. It said the CBN is to suspend the charges pending proper engagement with the relevant...
Key highlights from the House plenary include calls for the CBN to address the ongoing cash scarcity, discussions on a new COVID-19 variant, and another defection from the Labour Party to the APC Cash Scarcity: Reps task CBN to address crisis Just as predicted by OrderPaper’s LIFE Service, the House of Representatives has called for an investigation into the ongoing scarcity of naira notes in commercial banks, a situation that has caused widespread hardship...
The CBN has clarified that its Early Exit Package (EEP) is entirely voluntary and without any negative repercussions for eligible staff The Central Bank of Nigeria (CBN) has dismissed claims of forced mass retirements by staff. The apex bank clarified that its Early Exit Package (EEP) is entirely voluntary and without any negative repercussions for eligible staff. Mrs. Hakama Sidi Ali, acting director of corporate communications stated the decision while speaking in Abuja on Wednesday,...
On Tuesday, the reps determined to investigate the gale of mass retirement in CBN and progressed on a bill on AIÂ Reps to probe mass retirement in the central bank The House of Representatives has resolved to set up an ad-hoc committee to investigate the circumstances that led to the mass retirement of 1,000 staff members of the Central Bank of Nigeria. The House also resolved to ascertain the N50bn payoff earmark for the settlement...
The Central Bank of Nigeria (CBN) governor, MDs of commercial banks and other financial institutions have been tasked on POS operations The House of Representatives has called for immediate measures to address the challenges posed by undocumented identities in Point of Sale (POS) transactions in Nigeria. This is as it mandated its committees on digital and electronic banking, finance, banking regulations, and financial crimes to invite the governor of the Central Bank of Nigeria (CBN),...
