By Yakubu LAAH InvestAdvocate Lagos INVESTADVOCATE)-The central bank of Nigeria (CBN) on Monday issued a July 31 deadline to deposit money banks (DMBs) in the country to refund customers short-changed by automated teller machines (ATMs). This contained in a circular titled: ‘’Non-Refund of Monies to Customers Short-Changed by ATMs Non-Dispense […]
Frauds & Scandals
Banks lose 2.4% of revenue to fraud
The Deputy Governor, Financial Systems Stability, Mr. Adebayo Adelabu, on Thursday said 2.4 per cent of banking revenue was lost to fraud cases. Adelabu said the 2013 Global Fraud Report showed that Africa had the highest regional level of fraud losses, with about 2.4 per cent of revenue lost to […]
Excess COT Charges: CBN Order Banks to Refund Customers within 30 days
Lagos (INVESTADVOCATE)-The central bank of Nigeria (CBN) on Thursday ordered deposit money banks to refund to customers who have been charged above the N2 per mille as contained in the revised guide to bank charges- commission on turnover (COT) issued on March 27, 2013. This is contained in a circular […]
