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Be the first to get hottest news from our Editor-in-Chief  SIGN UP THANK YOU! You are already subscribed to our newsletter! Check your inbox to be the first to know the hottest news Home Business and Economy Economy ECONOMY Access Bank Gets N138 Billion From Parent Company, CBN Gives Approval Wednesday, April 05, 2023 at 6:13 PM by Pascal Oparada The Central Bank of Nigeria has given its nod to a $300 million investment into Access Bank by parent company The parent company, Access Holdings, said the investment is to consolidate the bank's presence in Africa A statement from Access Holdings said the investment is a mandatory convertible instrument to improve shareholders' funds PAY ATTENTION: Donate to Legit Charity on Patreon. Your support matters! Access Bank'sBank's parent company, Access Holdings, has injected $300 million, about N138 billion in investment capital. According to reports, Access Holdings stated that the returns would boost the capital nee...

Top 11 Cheapest Data Platforms In Nigeria & Prices  Written by NaijaVenture January 9, 2023 Leave a Commenton Top 11 Cheapest Data Platforms In Nigeria & Prices If you are a fan of the internet, then you would believe with me that Data Is Life! One of my friends would always say that he rather stay without food than stay without Data, that’s just to emphasize how important Data is to him. But it is very unfortunate that Data is one of the costliest resources in Nigeria today. This is unlike in the Western Countries where there is always free internet data for everyone. But should you now relocate to the western country because of free data…Lol..? We got to find a way to manage our problem here, and one of the best options is to always go for cheap data plans that our pocket can afford. On a normal, the least price you can get a 1GB data plan from any communication network, is N1,500 or N1000, for a monthly subscription. The sad side is that the 1GB data may not ...

Most Widely Read Newspaper Banks raise cash withdrawal limits to reduce queues Deposit Money Banks are set to raise their cash withdrawal limits from the current N20,000-N50,000 range to over N80,000-N100,000, according to multiple bank officials. The move, it was learnt, would help bank branches to tackle lingering queues in some cities across the country. The Central Bank of Nigeria had on Friday directed commercial banks to open for operation on Saturday and Sunday, as part of a coordinated effort to ease the circulation of old and new banknotes. This came after the CBN began the release of billions of old naira notes to DMBs. The central bank on Thursday finally obeyed the Supreme Court on the legal status of the old naira notes after months of controversy that trailed the naira redesign policy. According to findings, most DMBs currently pay between N20,000 and N50,000 over-the-counter and Automated Teller Machines. However, officials told our correspondents that banks ...

EFCC arrests 80 PoS vendors in Ondo EFCC Our Reporter March 26, 2023 Over 80 Point of Sales (PoS) vendors in Akure, the Ondo State capital, have been arrested by operatives of the Economic and Financial Crimes Commission (EFCC) for allegedly buying and selling money to individuals with higher interest. The operation was carried out in Akure South and Akure North Local Government Areas. It was gathered that the PoS operators were forced to disclose the source of the cash used in their businesses. A source said some PoS agents confessed to buying cash from banks after which they charged their customers exorbitantly. According to the source, “They have arrested about 80 PoS attendants in Oja Oba Area. If they come to you, they will ask you to disclose the source of your cash and how much you are charging your customers and also ask you to take them to the person that gave you the money. “Some PoS attendants, who got the information beforehand, abandoned their stands and fled. ...

Most Widely Read Newspaper Home 25th March 2023 opay 1 Branded Content Kindly share this story: Nigerian payment and financial service company OPay appreciate its customers, merchants, and partners for their strong patronage, especially over the last 3 months. We express our appreciation to our over 30 million registered app users, 500,000 agents, and 100,000 merchants who use OPay daily to make transactions and ultimately spread OPay’s mission of shared prosperity to all. According to OPay-Nigeria’s President and CEO, Olu Akanmu “ our OPay customers should continue to enjoy OPay’s reliable, fast, and safe transactions anywhere and anytime through OPay platforms. We are committed to providing inclusive financial services to all Nigerians that ensure no one is left behind no matter their social situation or geographic location”. OPay Digital Services Limited is fully licensed by the Central Bank of Nigeria and all deposits are insured by the National Deposits Insurance Corpo...

CBN Clears The Air On Suspending OPAY & PALMPAY Accounts Golden News HOME NEWS NPOWER JOBS NYSC INFO EDUCATION BUSINESS ENTERTAINMENT SPORTS TECHNOLOGY CBN Clears The Air On Suspending OPAY & PALMPAY Accounts CBN Clears The Air On Suspending OPAY & PALMPAY Accounts Faith Joseph BY FAITH JOSEPH March 25, 2023 Reading Time: 1 min read CBN Clears The Air On Suspending OPAY & PALMPAY Accounts 500 SHARES The Central Bank of Nigeria (CBN) has debunked claims going round that it has suspended accounts of some Fintech companies like OPAY and PALMPAY. The apex bank in reaction to the reports described it as fake news. The Acting Director, of Corporate Communications of CBN, Isa AbdulMumin, on Friday, March 24, 2023, in Abuja described the viral news as “simply  READ ALSOSoludo Interrupted Because Of Peter Obi PresenceOkupe Speaks On Ekweremadu, Wife ConvictionThe report which was credited to AbdulMumin claimed that the CBN was about to suspend accounts of the Fi...

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CBN instructs banks to open Saturdays, Sundays 24th March 2023 CBN Governor, Godwin Emefie By  Damilola Aina Kindly share this story: Central Bank of Nigeria has directed all commercial banks to open for operation on Saturdays and Sundays, as part of a coordinated effort to ease circulation of banknotes of various denominations. The apex bank also confirmed the evacuation of banknotes from its vaults to commercial banks across the country. This latest development was disclosed in a statement signed by CBN Acting Director, Corporate Communications Department, Isa AbdulMumin, in Abuja, on Friday afternoon. The statement noted that, a substantial amount of money, in various denominations, had been received by commercial banks, for onward circulation to their respective customers, even as it prevailed on banks, to conduct physical operations in banking halls through the weekends. Excerpts of the statement read: “The CBN has directed all banks to load their Automated Teller ...

Labour Party presidential candidate, Peter Obi. Labour Party presidential candidate, Peter Obi. Appeal Court grants Peter Obi’s request to serve petition on Tinubu through substituted means Peter Obi says the request for substituted means on Bola Tinubu and his running mate, Kashim Shettima, became necessary owing to the heightened security protection around them after their emergence as the president-elect and vice president-elect. ByAmeh Ejekwonyilo March 24, 2023 Reading Time: 3 mins read The Court of Appeal in Abuja, on Friday, granted permission to the Labour Party’s presidential candidate, Peter Obi, to serve his petition challenging the 25 February presidential election on Bola Tinubu. Mr Obi is challenging the victory of Mr Tinubu, the presidential candidate of the All Progressives Congress (APC), who was declared the winner of the keenly contested election. The Labour Party candidate, who came third behind the candidate of the Peoples Democratic Party (PDP), Atiku...

Use Website In A Screen-Reader ModeSkip to Content CONSENSYS HOME NewsDevelopersEnterpriseBlockchain PRESS RELEASE ConsenSys and MoonPay Join Forces to Empower Nigerian Users With Easy Access to Crypto Directly in MetaMask MetaMask and MoonPay have expanded their offering in Nigeria, enabling Nigerian users to purchase crypto via instant bank transfers within the MetaMask mobile and Portfolio Dapp. Nigeria is among MetaMask’s top markets globally, ranking third in mobile active users. It is also among the top ten countries regarding visitors to metamask.io over the last month. An estimated 90% of credit/debit card attempts to buy crypto in Nigeria are declined. Integrating MoonPay into MetaMask will make it easier for Nigerian users to obtain tokens more efficiently without setting up a crypto exchange account. by ConsenSysMarch 21, 2023 ConsenSys and MoonPay Join Forces to Empower Nigerian Users With Easy Access to Crypto Directly in MetaMask Lagos, Nigeria, March 21, 2023...

DIGITAL BANKING How much danger are you in once your BVN has been exposed? Seeing as the BVN is a person’s identity, there’s a healthy level of panic or concern with the potential of its exposure to malicious characters like hackers and fraudsters. But how much of it is true? Peace Itimi Jul 22, 2022 • 4 min read How much danger are you in once your BVN has been exposed? The BVN is one of the most important pieces of personal information owned by any bank account owner in Nigeria. It can be used to identify individuals, open accounts, authenticate transactions, and lots more. As far as banking in Nigeria is concerned, it is a person’s identity. With increasing rates of cybersecurity risks across the world, more people are becoming conscious of how the information they share online can be used to cause harm to them. However, a side-effect of that consciousness is also unnecessary panic. Seeing as the BVN is a person’s identity, there’s a healthy level of panic or concern wit...

Be the first to get hottest news from our Editor-in-Chief SIGN UP THANK YOU! Check your email and confirm your subscription You are already subscribed to our newsletter! Check your inbox to be the first to know the hottest news Home Business and Economy Economy ECONOMY  Naira Rebounds on the Black Market Amid Slow Dollar Demands, Cash Scarcity Monday, March 20, 2023 at 5:32 PM by Pascal Oparada Naira has gained about 0.54% against the US dollar on the black market Market survey shows that there has been slow demand for the US dollar The development comes as cash scarcity continues in commercial banks two weeks after the CBN reintroduced old naira notes into circulation PAY ATTENTION: See you at Legit.ng Media Literacy Webinar! Register for free now! The Nigerian Naira gained massively on Monday, March 20, 2023, against the US dollar. The currency recovered by 0.54% as demand for the United States dollar thawed at the parallel market. During trading on Monday, the naira...

Be the first to get hottest news from our Editor-in-Chief SIGN UP THANK YOU! Check your email and confirm your subscription You are already subscribed to our newsletter! Check your inbox to be the first to know the hottest news Home Business and Economy Economy ECONOMY Banks Say CBN Issued More Old Notes as New Naira Notes Dry up, Disobey Supreme Court Order on Withdrawal Limit Monday, March 20, 2023 at 10:34 AM by Pascal Oparada Despite massive queues seen across banks in Nigeria, banks have started issuing old notes to customers Feelers show that the banks have stuck to the withdrawal limit imposed by CBN The development is against the Supreme Court ruling of March 3, 2023, which halted CBN’s withdrawal limit PAY ATTENTION: Donate to Legit Charity on Patreon. Your support matters! Some normalcy has returned despite persistent queues in some banks and ATMs across Nigeria. Bank officials say the Central Bank of Nigeria (CBN) supplied more old naira notes than the newly re...

 Wednesday, March 15, 2023 at 9:40 AM by Pascal Oparada Commercial banks have revealed why they have kept the withdrawal limit at N20,000 daily They say they are short of the old notes as they have not received any new allocation from the CBN Bank officials say they are not sure the apex bank still has the old notes in its vault PAY ATTENTION: Click “See First” under the “Following” tab to see Legit.ng News on your Facebook News Feed! The Central Bank of Nigeria (CBN) is yet to release old notes to Deposit Money Banks in compliance with the Supreme Court order. The development may be considered odd because the apex bank has said it has mopped up many old notes in circulation. Central Bank of Nigeria Governor, Godwin Emefiele Credit: Bloomberg/Contributor Source: Facebook Banks wait for old notes from CBN The situation has disadvantaged commercial banks, as customers besiege them to demand cash. PAY ATTENTION: Subscribe to Digital Talk newsletter to receive must-know bu...

Naija News Naija News NIGERIA NEWSNaira Transactions: Avoid PoS Terminals – CBN Issues Directive Tuesday, March 14th, 2023 at 1:47 PMBy George Oshogwe Ogbolu  Kindly share this story: Naira Scarcity: E-payment Plummet To N37tn Amid Rise In Failed Transactions The Central Bank of Nigeria (CBN) has restricted agents from using Point of Sale (PoS) terminals meant for merchants to carry out cash-in and cash-out transactions. Naija News reports that the CBN gave the directive in a circular announcing the Exposure Draft of the Regulatory Framework for Agent Banking in Nigeria. The apex bank stated that the agent banking initiative has resulted in the proliferation of financial services agents across Nigeria. The bank said this has resulted in a significant and growing portion of financial transactions being conducted through the agents. CBN said: “This has necessitated the review of agent banking regulations to streamline activities in agent banking while ensuring that approp...