PoS Terminals Used as Cash-Selling Ventures by Banks – Okai
Usman Okai, a prominent member of the Peoples Democratic Party and former House of Representatives candidate for the Dekina/Bassa federal constituency, has accused commercial banks of exacerbating Nigeria’s ongoing cash crunch. He claims that these banks are allegedly selling naira notes directly to influential individuals, contributing to the cash shortage that is causing severe hardship […]
Banks Raise Daily Withdrawal Limit to ₦50,000
Deposit Money Banks in the Federal Capital Territory (FCT) have raised their maximum over-the-counter withdrawal limit to ₦50,000 per day, up from the previous ₦5,000 limit set last month. This change, confirmed by findings from The PUNCH, affects banks such as Guaranty Trust Bank (GTBank) and Zenith Bank. At GTBank’s branch along the airport road, […]
CBN Issues July 7 Deadline For PoS Operators’ Registration with Corporate Affairs Corporation
The Central Bank Of Nigeria (CBN) has issued a July 7, 2024 deadline for Point of Sales (PoS) operators to complete registration with the Corporate Affairs Corporation. This was revealed during a meeting between Fintechs and the Registrar-General/Chief Executive Officer (CAC) Hussaini Magaji, today in Abuja. Speaking at the event, the CAC boss said the […]