News
Nigeria airports to resume cash payments at access gates from Thursday
3+ hour, 55+ min ago (261+ words) Nigeria's airports will introduce a hybrid payment system at access gates from Thursday, 13th March, accepting both cash and card after a fully cashless arrangement caused traffic gridlock and was suspended on presidential orders. The Federal Airports Authority of Nigeria (FAAN)…...
Why Smart Merchants Choose Moremonee POS Systems for their Businesses - Businessday NG
1+ day, 10+ hour ago (202+ words) Many Nigerians are raving about Moremonee POS systems, saying they're a total fit for businesses in Nigeria. Moremonee, a licensed financial services provider regulated by the Central Bank of Nigeria, offers a suitable solution with its POS system. According to…...
Tinubu did not suspend cashless payment but asked us to improve the process - FAAN MD
5+ day, 21+ hour ago (710+ words) Olubunmi Kuku, the managing director of the Federal Airports Authority of Nigeria (FAAN) has clarified that Bola Ahmed Tinubu, the president did not ask FAAN to necessarily suspend "Go Cashless" initiative but to make sure the process itself is improved…...
Kano DisCo begins phased repayment of 82-month inherited pension arrears
1+ week, 2+ min ago (673+ words) The Kano Electricity Distribution Company (KEDCO) has said that about 90 percent of the 82 months of unremitted pension deductions owed to its workers were accumulated before its acquisition by Future Energies Africa (FEA) in November 2023, as it moves to defuse labour…...
Cheque violations by banks, printers now attract up to N20m fine – CBN
3+ week, 5+ day ago (619+ words) The Central Bank of Nigeria (CBN) has rolled out revised sanctions for banks and accredited cheque printers under the Nigeria Cheque Standards (NCS) and the Nigeria Cheque Printers" Accreditation Scheme (NICPAS), tightening oversight of the country"s clearing system as…...
PenCom deploys tech to lift informal pension coverage from zero to 10%
1+ mon, 20+ hour ago (565+ words) ..says over 75 million workers face retirement without finacial protection" Nigeria's Pension Commission (PenCom) disclosed, on Monday, that it would leverage technology to expand retirement savings to the vast informal workforce, warning that more than 75 million Nigerians currently face retirement without…...
Online portal to ease pension transactions for millions of contributors
1+ mon, 4+ day ago (502+ words) The National Pension Commission (PenCom) is set to launch an online data recapture platform designed to simplify pension transactions for millions of Retirement Savings Account (RSA) holders. The self-service portal, known as the Data Recapture Self-Service Platform (PENCAP), will allow…...
CBN: Tackling end-year cash scarcity with policy reforms, regulation - Businessday NG
2+ mon, 6+ day ago (1531+ words) For years, Christmas and New Year periods were always disrupted by perennial scarcity of naira notes. During such periods, and sometime afterwards, Nigerians find it very difficult to access cash from banks, Automated Teller Machines (ATMs), and sometimes Point of…...
CBN mandates banks to secure foreign card transactions nationwide
2+ mon, 3+ week ago (533+ words) Central Bank of Nigeria (CBN) The Central Bank of Nigeria (CBN) has instructed deposit money banks and non-bank acquirers to introduce multi-factor authentication for foreign-issued card transactions that exceed $200 daily. The directive was contained in a circular dated December 18 and…...
ICYMI: CBN orders banks, financial institutions to allow uninterrupted ATM, POS services for foreign cards
2+ mon, 3+ week ago (236+ words) The Central Bank of Nigeria (CBN) has issued a fresh directive to banks and other financial institutions aimed at easing the use of foreign-issued payment cards by tourists and Nigerians returning from the diaspora, as part of broader efforts to…...