CBN announces fresh guidelines on dormant accounts, unclaimed balances in Nigerian banks
The Central Bank of Nigeria, CBN, has directed all banks and other financial institutions in the country to transfer all dormant accounts and unclaimed balances and other financial assets to its dedicated account. The apex bank disclosed this on Friday…
CBN Denies Plans to Revocate Licenses of Unity Bank, Polaris Bank, and Keystone Bank
The Central Bank of Nigeria (CBN) has denied reports that it plans to revoke the licenses of Unity Bank, Polaris Bank, and Keystone Bank. In a post on its social media handles, the CBN stated that the claims are “fake…
CBN Reportedly Axes 200 Staff Amid Economic Hardship
Reports indicate that the Central Bank of Nigeria has laid off 200 staff members due to economic challenges. A senior staff member, who chose to remain anonymous, confirmed this development to our correspondent on Friday night. “Over 200 staff members…
Bank recapitalisation: CBN moves to check illicit funds, partners security agencies
The Central Bank of Nigeria (CBN) is set to closely oversee the recapitalization efforts within the Nigerian banking sector, in partnership with law enforcement agencies, with the aim of curbing illicit financing activities. This directive was revealed by Haruna Mustafa,…