Stakeholders in the electronic payment business have been urged to upgrade their security systems in compliance with new standards, Payment Card Industry- Data Security Standards, before the end of the year, as part of measures to address fraud risks associated with electronic payment channels. The PCI-DSS is a set of […]
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Inter-bank rates fall on budget inflows
Inter-bank lending rate fell to an average 14.08 per cent on Friday and has now fallen lower than 300 basis points since Wednesday as liquidity increased, reversing a jump after the Central Bank of Nigeria announced on Tuesday it was raising banks’ cash reserve requirement. The CBN raised the reserve […]
SEC alleges insider trading ahead of CNOOC-Nexen deal
The U.S. securities regulator filed a complaint in court on Friday against a firm controlled by a Chinese billionaire and other traders, accusing them of making over $13 million from insider trading ahead of a bid by China’s CNOOC for Canadian oil company Nexen Inc. The Securities and Exchange Commission […]
