POS Operators Raise Alarm over Stifling Government Taxes Per Agent

Naira Scarcity Hits Banks, ATMs Fail to Dispense Cash

Throughout the weekend, customers of several commercial banks in Osogbo, the Osun State capital, were left stranded with the situation made worse by the poor services provided by Automated Teller Machines (ATMs). Many of the ATMs failed completely to dispense cash and were observed to be empty from Saturday through Sunday. The same scenario is […]

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Commercial Banks Increase ATM Cash Withdrawals to N200,000

Queues Disappear in Banks as ATMs Dispense Cash

The long queues at commercial banks in Lagos have suddenly disappeared since Friday, March 24. This comes after the deployment of more banknotes by the Central Bank of Nigeria (CBN) into commercial banks, the News Agency of Nigeria (NAN) reports. The apex bank on Thursday, confirmed the evacuation of bank notes from its vaults to […]

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ICPC Arrests Bank Manager Who Loaded Cash in ATM Machine but Blocked Dispensing Point

A bank manager in Osogbo, the Osun State capital has been arrested by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) over Automated Teller Machines (ATMs) loaded with new Naira notes that were blocked from dispensing. The ICPC spokesperson, Azuka Ogugua, in a statement on Friday, disclosed that the cash bundles were loaded […]

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How to Report PoS Operators Charging Above N200

Cash Scarcity: POS Operators Increase Charges

Point of Sales, POS operators in Kaduna state have increased their charges on money withdrawn as the scarcity of new notes worsens across the country. Although several POS operators have locked their business outlets following the scarcity of new notes, the few ones operating charged higher commissions as they only allowed customers to withdraw a maximum […]

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CBN Publishes List of 132 Microfinance Banks Whose Licences It Revoked

CBN Cuts Several Bank Charges Including ATM Maintenance Fee

The Central Bank of Nigeria (CBN) has reviewed bank charges including ATM maintenance fee, electronic find transfer and bulk payments. The new development was disclosed in CBN’s new ‘Guide to Charges by Banks Other Financial and Non-Financial Institutions.’ According to the apex bank, the guideline applies to charges made by Banks Other Financial and Non-Financial […]

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