Thursday, September 20, 2018

Tag "Dipo Fatokun"

    CBN directs banks to resolve USSD disputes in three days

CBN directs banks to resolve USSD disputes in three days

The Central Bank of Nigeria (CBN) says all commercial banks must resolve disputes arising from the use of Unstructured Supplementary Service Data (USSD) channels within three days.Dipo Fatokun, CBN’s director, banking and payment systems department, made this known at the Meet The Executive forum organised by Finance Correspondents Association of Nigeria (FICAN) in Lagos.Fatokun, who was represented by Taiwo Oladimeji, [...]

0 comment Read Full Article
    CBN: Electronic fraud is on the rise

CBN: Electronic fraud is on the rise

Dipo Fatokun, director of banking and payment system, at the Central Bank of Nigeria, says fraud carried out through automated teller machines (ATM) and mobile banking is on the increase.Speaking on Thursday at the unveiling of the 2017 Nigerian Electronic Fraud Forum annual report in Lagos, he said the value of electronic banking fraud cases between 2015 and 2017 at [...]

0 comment Read Full Article
    CBN sets daily limit of mobile transfer at N100,000

CBN sets daily limit of mobile transfer at N100,000

The Central Bank of Nigeria says the daily limit of funds transfer from mobile phones using short codes will now be N100,000.In a circular released on Thursday and signed by Dipo Fatokun, director, banking and payment system department, the bank said the decision was made because of the risk associated to mobile banking."Concerns have been expressed on the likely exposure [...]

0 comment Read Full Article
    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 [...]

0 comment Read Full Article
    CBN suspends cashless policy, asks banks to refund charges

CBN suspends cashless policy, asks banks to refund charges

The Central Bank of Nigeria (CBN) has suspended its earlier directive on the implementation of cashless policy.In a circular released on Friday, the apex bank instructed banks to revert to old charges and refund customers who had been debited.CBN had earlier announced new charges on deposit and withdrawals above a threshold of N500,000.The apex bank had directed banks to charge 5% [...]

4 comments Read Full Article
    CBN: You can now pay cheques into your savings account

CBN: You can now pay cheques into your savings account

The Central Bank of Nigeria (CBN) says savings account holders in Nigeria can now pay cheques of N2million or less into their savings account per day.In a circular signed by Dipo Fatokun, CBN director of banking and payment system, the bank also asked Deposit Money Banks (DMBs) to remove fixed interest rates on credit cards.“The Central Bank of Nigeria, in [...]

1 comment Read Full Article
    CBN: Nigerians make N1.5bn transactions on POS daily

CBN: Nigerians make N1.5bn transactions on POS daily

The Central Bank of Nigeria (CBN) says about N1.5 billion worth of transactions are done on the Point Of Sales (POS) terminal daily.Dipo Fatokun, CBN’s director of Banking and Payment System Department (BPSD), said this in Abuja on Wednesday at the apex bank’s e-Payment Incentive Scheme (EPIS) cash reward presentation.Fatokun said the scheme was meant to reward users of electronic [...]

0 comment Read Full Article
    CBN extends BVN registration to October 31

CBN extends BVN registration to October 31

The Central Bank of Nigeria (CBN) has extended the deadline for the bank verification number (BVN) registration to October 31, 2015.The bank said the extension was meant to facilitate smooth completion of registration.Dipo Fatokun, CBN’s director for banking and payment system department, disclosed this in a statement issued in Abuja on Tuesday.“It has come to our notice that the BVN [...]

1 comment Read Full Article
    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 [...]

0 comment Read Full Article
Advertisement

 

Advertisement

Advertisement

Exchange Rates

September 20, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement