" ITREALMS: Central Bank of Nigeria
Showing posts with label Central Bank of Nigeria. Show all posts
Showing posts with label Central Bank of Nigeria. Show all posts

Friday, October 25, 2024

CBN strengthens diaspora ties to boost Nigeria’s economy – ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Central Bank of Nigeria (CBN) has strengthened diaspora ties to boost the nation's economy, reports ITREALMS.
CBN strengthens diaspora ties to boost Nigeria’s economy – ITREALMS
This followed CBN-led top-notch stakeholder's engagement with the Nigerian Diaspora community in Houston, Texas, United States of America, at a forum titled: “Optimizing Remittances to Nigeria: A Vision for the Future.”

Thursday, March 23, 2023

IWD 2023: Emefiele harps on gender parity - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has felicitated Nigerian women and called for more engaging conversations on how women could leverage technology and innovation to bridge the digital gender gap, reports ITREALMS.
IWD 2023: Emefiele harps on gender parity - ITREALMS
In a keynote address at the CBN IWD webinar in commemoration of the International Women’s Day Celebration on March 23, 2023, Emefiele noted that digital financial services had become a critical dependency in the economy, providing vast opportunities to bridge the digital gender gap, drive financial inclusion and increase employment and economic opportunities for women.

Monday, February 20, 2023

CBN renews Cellulant’s license as payment provider - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Central Bank of Nigeria (CBN) has renewed the license of Cellulant as a payment service provider in the country, reports 
ITREALMS.
This license, ITREALMS gathered affords Cellulant to continuously provide online and offline payment solutions, including collections, check-out, biller aggregation, and payout services securely to thousands of businesses across Nigeria.

Wednesday, October 26, 2022

CBN to introduce new currency notes by Dec. 15 - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Central Bank of Nigeria (CBN) has decided to redesign, produce and circulate new currency notes, effective, December 15, 2022, reports 
ITREALMS.
The CBN Governor, Mr. Godwin Emefiele, disclosed Wednesday in Abuja at a special press briefing.

Friday, July 01, 2022

CBN releases cybersecurity guidelines, sets compliance date @January 2023 - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Central Bank of Nigeria (CBN) has released the Risk-Based Cybersecurity Framework and Guidelines for Other Financial Institutions (OFIs) which sets January 1, 2023 as date for compliance, reports 
ITREALMS.

This, ITREALMS gathered followed the recent rise in the number and sophistication of cybersecurity threats against financial institutions.

Monday, May 02, 2022

CBN grants Airtel PSB licence for SmartCash - ITREALMS

ITREALMS ... making leadership SENSE with digital news!



Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, has confirmed that the Central Bank of Nigeria (CBN) granted its subsidiary, SmartCash Payment Service Bank limited (Smartcash) operational license, reports 
ITREALMS.
Airtel also affirmed it has now received final approval from the Central Bank of Nigeria for a full Payment Service Bank (PSB) licence, which would enable the group the opportunity to deliver a full suite of mobile money services into Nigeria.

Tuesday, July 27, 2021

CBN bans sales of forex to BDCs - ITREALMS

ITREALMS ... making leadership SENSE with digital news!


The Central Bank of Nigeria (CBN) has banned the sales of Foreign Exchange (FX) to Bureau De Change (BDCs) operators in the country, reports 
ITREALMS.
The CBN Governor, Mr. Godwin Emefiele, proclaimed this at the end of the Monetary Policy Committee (MPC) meeting held in Abuja, the nation's capital on Tuesday.

Sunday, March 27, 2016

Etisalat outlines factors for full financial inclusion in Nigeria



Etisalat Nigeria, the most innovative telecommunications operator, has identified four enabling factors that could facilitate the achievement of the Central Bank of Nigeria’s goal for full digitization of the financial services sector, reports ITRealms

Director, Digital Business, Etisalat Nigeria, Adia Sowho, made the assertion during the week while speaking on Financial Inclusion & Digital Financial Services at the 2016 eWorld Forum organised by Ajomedia, publishers of e-World Magazine in partnership with Etisalat Nigeria.

The factors include interoperability of standards for money exchange across operators, agents and products, agent cum merchant distribution network that accepts and processes clients’ transactions, technology platform or avenue by which digital financial services are being provided to the target customers and product variety which addresses key pain points and creates value in the community.

Speaking further, the Etisalat director, also called on relevant stakeholders in the digital financial services ecosystem to evolve ways that could help them remain relevant, just as she assured on the commitment of her company to seeking and creating more innovative ways to create value for consumers. 

She said, “Research results show that only 12 per cent are doing mobile banking while online banking has just 18 per cent of the population. This is a long road to our destination, and it calls for a strategic approach that involves the collaboration of all stakeholders. There must be regulatory interventions in place to foster the right conditions for increased collaboration. The banks must see and work towards the greater need for client-centric and digital mind set to increase customer base and deposits while reducing cost to acquire and serve. On our part, we are committed to efforts that will drive SmartPhone and broadband penetration to enhance the experience of customers who are expected to carry out financial services.”

It would be recalled that Etisalat Nigeria recently beat twenty one other entries to win the 2016 MobileMoneyExpo Kalahari Financial Inclusion Product of the Year Award for its contribution to the growth of the financial sector of the economy through its mobile money product, GTeasysavers. This product is  a joint effort of Etisalat Nigeria and Guaranty Trust Bank that seeks to make savings and financial inclusion easier for everyone.

Nkemdilim Nweke/GEE


ITREALMS ... everything news digitally!

Pix: 1: (R-L) Director, Digital Business, Etisalat Nigeria, Adia Sowho speaking at the eWorld Forum 2016 sponsored by Etisalat Nigeria in partnership with eWorld magazine in Lagos on Thursday. With her is Conference Committee Chairman, Nigeria Computer Society, Jide Awe, Director, Public Affairs, Nigerian Communications Commission, Tony Ajobo and Chairman, ALTON, Engr. Gbenga Adebayo at the eWorld Forum 2016 sponsored by Etisalat Nigeria in partnership with eWorld Magazine in Lagos.

Pix 2: (R-L) Etisalat Nigeria’s Oluwaseun Omotosho, Manager, Mobile financial services and Director, Digital Business, Adia Sowho; Convener, eWorld Forum 2016, Aaron Ukodie; Etisalat Nigeria’s Head, Environment Compliance & Public Relations, Oluseyi Osunsedo and Manager, Public Relations, Chineze Amanfo at the eWorld Forum 2016 sponsored by Etisalat Nigeria in partnership with eWorld Magazine in Lagos.
 

Monday, March 21, 2016

SystemSpecs delivered on TSA mandate – John Obaro



The Managing Director of SystemSpecs Limited, Mr. John Obaro, has declared that his team using its Remita platform has delivered on its mandate as far as Treasury Single Account (TSA) deal with the Central Bank of Nigeria (CBN) and by extension the Federal Government is concerned, reports ITRealms.

“We’re glad and proud that we have delivered,” he declared in response to the controversy surrendering the Senate intervention which claimed that subsisting 1 per cent charge on transaction was enormous.

He also said that the TSA project goes beyond revenue collections and extends to payments, accounting information exchange and update.

This is he said, in addition leverages on “full real-time integration with Government Integrated Financial Management Information System (GIFMIS), integration with the national financial services ecosystem enabling payers across multiple platforms, 24/7 user support for 50,000 FGN TSA users of Remita platform, among others.”

Electronic collections (e-collections) schemes anywhere in the world, he said, are a product of negotiations based on scope and complexity of tasks involved.

Therefore, Obaro explained that the subsisting 1 per cent charge eventually agreed by the CBN, banks and SystemSpecs at the commencement of the project was considered a good starting point which could be reviewed based on emerging realities.

“This much is a clear and integral part of our contracts with the CBN,” he said.
 
Obaro lamented that the resounding success of the TSA project has obviously attracted attention from different quarters which may include those benefiting from the old pre-TSA order, competitors who lost out in the selection process, un-informed or under-informed commentators, among others.
 
“In it all, we have always been and will remain fully committed to the full resolution of any issue surrounding the commercial component of our contract in the overall larger national interest,” he assured.

He, however, commended the Senate for its avowed commitment to preserving the national interest, the government for entrusting such a significant national IT project to an indigenous firm, and numerous Nigerians who continue to objectively analyse issues and encourage SystemSpecs, particularly during these times.
 

ITREALMS ... everything news digitally! 
Pix: Managing Director of SystemSpecs Limited, Mr. John Obaro,

Monday, November 09, 2015

Soludo for Realnews Magazine 3rd lecture

ITRealms:

Renowned economist and former Governor of the Central Bank of Nigeria (CBN), Prof. Chukwuma Charles Soludo has been confirmed to give the third anniversary lecture of Realnews Magazine, slated for Lagos at Oriental Hotel, reports ITRealms.

Confirming this to ITRealms, the publisher, Realnews Magazine and Publications Limited, Maureen Chigbo, said plans have been advanced to ensure the successful third anniversary lecture on Thursday, November 19, 2015. 

She said the choice of Prof. Soludo as the lecturer of this year is aligns with Realnews focus on the current doldrums, just as all the economic indices in the country now ranging from depleting foreign reserve, depreciating value of the naira, the double digit interest rates, high rate of unemployment especially amongst youth to inflation rate which is now on the increase show that there is need for a rethink of the economic direction Nigeria is heading, especially in this new civilian administration that most Nigerians want change.

She explained that immediately after the lecture, a panel of discussants would leverage on it to speak on how the manufacturing sector, the real estate sector and the management of national debt could contribute to dig the Nigerian economy out of its current doldrums amidst the dwindling revenue from the sale of crude oil at the international market. 
 
The panelists, she said, include Mr. Gimba Ya’u Kumo, Managing Director/Chief Executive Officer of the Federal Mortgage Bank of Nigeria, Mr. Remi Ogunmefun, Director General of the Manufacturers Association of Nigeria and Abraham Nwankwo, Director General, Debt Management Office. 

“Both the lecturer and all of the panelists have confirmed their attendance at the event,” she said.
Chigbo further said that the Special Guest of Honour is Senator Chris Ngige, former Governor of Anambra State and minister designate, while the chairman of the occasion is Alhaji Mohammed Hayatu-Deen, Founder/Chief Executive Officer of Alpine Investments Services Limited. 

Chigbo noted that Hayatu-Deen, former managing director of the defunct FSB International Bank is one of the moving spirits behind the Nigerian Economic Summit. 

“They have also confirmed their attendance,” she said.

After the panel and interactive session, there will be an investiture of prominent Nigerians into the prestigious Realnews Hall of Fame, exclusively reserved for only Guest Speakers, Discussants, Book Reviewers and Chairpersons at our Anniversary Lecture Series.

Those to be inducted into the Realnews Hall of Fame are Professor Maurice Iwu, former chairman of INEC, Mr. Roberts Orya, Managing Director/Chief Executive Officer of the Nigerian Export Import Bank (NEXIM), Dr. Ngozi Anyaegbunam, President, Media World, Mr. Benjamin Dikki, Director General, Bureau of Public Enterprises and Professor Joe. I. Ezigbo, Managing Director, Falcon Corporation Limited.

“They (inductees) all played key roles during our second anniversary Lecture and the induction into the Realnews Hall of Fame is just a token of our appreciation for the honour they did to Realnews Magazine and Publications Limited last year,” said Maureen Chigbo.

Chigbo equally said that the second volume of the Paragon of Journalism, co-edited by her and the late Mike Akpan, publisher/editor and editor-in-chief of Realnews magazine, respectively, will be presented at the event.  

Realnews, a general interest magazine, is an online publication which thrives on investigative journalism debuted November 19, 2012.

+Remmy 

ITREALMS ... everything news digitally!

Monday, July 13, 2015

GTBank begins charges on cashless policy




The GTBank has commenced charging on withdrawals based on the cashless policy in line with the Central Bank of Nigeria (CBN), reports ITRealms.

GTBank in a public statement made available to ITRealms said that CBN cashless policy and the previous communication deferring charges on cash withdrawals above the daily limits, in 30 states of Nigeria till July 1, 2015.

According to the bank official, the modalities currently operational in Lagos, Federal Capital Territory (Abuja), Abia, Anambra, Kano, Ogun and Rivers States will now be effective nationwide, including the previously exempted 30 states of Nigeria.

ITRealms gathered that for individual account holders, charges will apply when daily cumulative withdrawals are in excess of N500,000 for 3 per cent.

For the corporate account holders, GTBank said it would charge daily cumulative withdrawals in excess of N3,000,000 for 5 per cent.

The cashless policy, GTBank said applies to all accounts including collection accounts, that is, all sub-accounts linked to the same account holder would be treated as one account for both corporate and individual accounts.

They noted that the above limits apply so far as it involves cash, irrespective of channel namely over the counter, ATM, 3rd party cheques cashed over the counter among others.

They also cited that if an individual withdraws N450,000 over the counter, and N150,000 from the ATM on the same day, the total amount withdrawn by the customer is N600,000, and the service charge will apply on N100,000; the amount above the daily free limit of N500,000

Exemptions, ITRealms gathered have however been granted on withdrawals for accounts operated by embassies, diplomatic missions, multilateral agencies, aid donor agencies, ministries, departments and agencies of government include revenue collections only, as well as Microfinance Banks (MFBs) and Primary Mortgage Institutions (PMIs).

To ensure a seamless transition to a cashless economy, GTBank said, it has made several safe and convenient alternative channels available for personal and business banking.

+ITRealms DSA 

ITREALMS ... everything news digitally!

Saturday, April 18, 2015

Breaking News: CBN reduces Naira denominated cards spending to $50,000



The Central Bank of Nigeria (CBN) has reviewed downward the spending limits on Naira denominated cards by estimated 66.67 per cent, DigitalSENSE Business News reports.

Investigations by DigitalSENSE Business News showed that CBN has reduced the Foreign Exchange spending limit on Naira denominated cards from previously $150,000, about to N29,850,000.00 to $50,000 an estimated N9,950,000.00 per annum.

Further investigations DigitalSENSE Business News revealed that with this development users of dominated cards in the country such as Naira MasterCard, Naira Credit Card, Naira Visa Prepaid Card, in a foreign Automated Teller Machines (ATMs), Point of Sale (POS) or Web now has a limit of $50,000  per year.

In addition, the daily cash withdrawal limit for a Naira denominated cards have been reduced to $300, about N59,700.00 per day from $120,000 previously.

This, industry analyst say may not be unconnected with the strategies by the incoming government of General Muhammadu Buhari to refocus the economy, especially the Naira, in line with what President Goodluck Jonathan started by stopping sale of dollar in the open market, a few months earlier.

+Remmy Nweke (ITRealms)  
ITREALMS ... everything news digitally!