The Central Bank of Nigeria has banned debtors of closed banks with non-performing loans of a maximum of N250m from accessing new facilities in any Deposit Money Banks in the country. The Managing Director/Chief Executive Officer, Nigeria Deposit Insurance Corporation, Mr. Umaru Ibrahim, who made the disclosure in Lagos on […]
Frauds & Scandals
SEC Says NYSE Rules Were Weak as Exchange Pays $4.5 Million
New York Stock Exchange rules governing everything from how traders connect their computers to when prices are disseminated to floor brokers were either inadequate or ignored by the exchange operator over five years ending in 2012, regulators said today. NYSE, which was bought by IntercontinentalExchange Group Inc. last year, agreed […]
Card fraud: CBN issues deadline for banks, others
To combat the electronic card-related frauds, the Central Bank of Nigeria has given banks until November, 30 2014 to comply with the Payment Card Industry Data Security Standards. The CBN also mandated switches and processors companies to become PCIDSS-certified on or before the date. Banks and companies which fail to […]
