November 10, 2016/CBN The Central Bank of Nigeria (CBN) in furtherance of its mandate to promote stable financial system embarked on the development of a Consumer Protection Framework (CPF) to among other things engender public confidence in the financial system. The CPF will guarantee high standards for efficient customer service […]
Money Market
CBN Alerts on Increased illegal Money Transfer Operators
November 9, 2016/CBN The attention of the Central Bank of Nigeria (CBN) has been drawn to the increasing patronage of illegal Money Transfer Operators by Nigerians in the Diaspora for the purpose of home remittances. These unscrupulous operators, who lure unsuspecting customers with ridiculous exchange rate, use Naira accounts opened […]
FG raises deposit insured limit of mortgage banks to N500, 000
8/11/2016/Vanguard By Babajide Komolafe The federal government has approved the upward review of the Maximum Deposit Insurance Coverage (MDIC) per depositor of mortgage banks to N500, 000 from N200, 000. Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim disclosed Monday in Lagos. He spoke during the NDIC […]
