The Nigeria Deposit Insurance Corporation (NDIC) has increased deposit insurance coverage for all licensed deposit-taking financial institutions. Bello Hassan, NDIC managing director and chief executive officer (CEO), announced on Thursday
Tag "DMBs"
The Central Bank of Nigeria (CBN) has directed banks to reduce the number of cheque rejections caused by magnetic ink character recognition code (MICR) or face sanctions from November 1,
Deposit money banks (DMBs) are still charging their customers parallel market rates for foreign exchange transactions done via the bank’s naira debit cards, TheCable can report. Many banks are transacting at
The Central Bank of Nigeria (CBN) is proposing a N50 charge on every cheque leaflet obtained and used at the deposit money bank’s counter. This is not the same as the
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