The House of Representatives has ordered investigations into allegations of wrongful withholding of customers’ monies through malfunctioning Automated Teller Machines (ATM) in the country. The investigation followed a petition presented by the Chairman, House Committee on Justice, Hon. Ali Ahmad (PDP, Kwara) on the issue. Ahmad said that a situation […]
Tag: Central Bank of Nigeria
Cashing of third-party cheques above N150,000 stops today
The cash-less policy of the Central Bank of Nigeria enters a new phase today (Monday) as the maximum ceiling of N150,000 placed on conversion of third-party cheques to cash by individuals takes off. The implication is that any cheque above N150,000 originating from a third party must be lodged into […]
Govt borrowing increased by N700bn in four months â€â€ÂSanusi
The Governor, Central Bank of Nigeria, Mr. Lamido Sanusi, has said that government increased its borrowing in securities by N700bn in four months. The governor disclosed on Thursday in Lagos that government also reduced its savings to commercial banks and with the CBN by about N1.4tn during the same period. […]
