Talks between MTN Nigeria and its banking partners on how to resolve the dispute over commission for airtime vending on unstructured supplementary service data (USSD) yesterday failed to achieve amicable settlement. Continue Reading
Commercial banks have reconnected MTN, four days after the banks disconnected the telco’s customers from the use of the Unstructured Supplementary Service Data (USSD) code for airtime vending.Continue Reading
Central Bank of Nigeria (CBN) has directed commercial banks and other financial institutions to, henceforth, accept Machine Readable Travel Documents (MRCTD) and Refugee Identification Card, as means of identification for financial transactions.Continue Reading
CBN Acting Director of Communications, Osita Nwanisobi while making the clarification in the CBN official website said that the directive was not new but only a reminder of a 2017 directive to the same effect, adding that the anonymous nature of cryptocurrencies justified such a directive to check financial crimes and other criminal activities.Continue Reading
The new law repeals the extant Banks and Other Financial Institutions Act 1991 as amended, to enhance the soundness and resilience of the financial system for sustainable growth and development of the Nigerian economy.Continue Reading
CBN also said the banks and other financial institutions would continue to apply the Know-Your-Customer principle and Customer Due Diligence as specified in the CBN (AML/CFT in banks and Other Financial Institutions in Nigeria) Regulations, 2013.Continue Reading
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