Tuesday, August 6, 2019

Tag "Automated Teller Machines"

    Soon, biometrics will replace ATM pin, says CBN director

Soon, biometrics will replace ATM pin, says CBN director

The Central Bank of Nigeria (CBN) says biometrics will soon be used for transactions on the automated teller machine (ATM).Pin codes are currently being used.Dipo Fatokun, chairman, Nigeria Electronic Fraud Forum (NeFF) and CBN director of banking and payment system, made this statement at 2017 annual retreat of the Nigeria Electronic Fraud Forum (NeFF) in Ibadan during the weekend.Fatokun said [...]

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ATM charge reintroduced to improve services, says CBN

The Central Bank of Nigeria has justified its decision to introduce N65 charge on remote-on-us Automated Teller Machines (ATMs) transactions in the country, saying that the policy would create competition among banks and lead to improvement of services to customers.CBN cancelled N100 on any remote-on-us withdrawal in 2012, citing the need to encourage people to use the ATM of other banks.However, [...]

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    Central Bank reintroduces ATM bank charges

Central Bank reintroduces ATM bank charges

The Central Bank of Nigeria (CBN) has directed that Automated Teller Machines (ATM) withdrawals would attract N65 per transaction to cover remuneration for the switches, beginning from September 1.Dipo Fatokun, director, banking and payment system department, stated this in Abuja on Thursday."The reintroduction of 'Remote-On-Us' ATM cash withdrawal transactions fee, which will be now N65 per transaction to cover the remuneration [...]

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    CBN orders refund of customer funds trapped in ATMs

CBN orders refund of customer funds trapped in ATMs

The Central Bank of Nigeria (CBN) has issued a 46-day ultimatum for banks to refund monies belonging to customers trapped in banks’ Automated Teller Machines (ATMs) to the affected customers.It warned that it would begin to sanction banks that fail to effect the refunds.The directives, contained in a 14-page document titled Guidelines for Card Issuance and Usage in Nigeria and released by [...]

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Exchange Rates

August 01, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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