February 22, 2025
Headlines

Commercial Banks

JUST-IN: CBN Orders Nigerian Banks To Cut Insider Loans Within 6 Months

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Nigeria’s banking regulator has issued a sweeping directive mandating commercial banks to comply with stricter insider lending limits or risk regulatory sanctions. In a letter to banks, the Central Bank of Nigeria (CBN) set a 180-day deadline for financial institutions to regularize all insider-related credit facilities that exceed the statutory limits prescribed under the Banking…

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NCC Orders Telcos To Disconnect Nine Banks Over USSD Debt

GISTSMATE 0105 mins

Following a backlog of unpaid debts, the Nigerian Communications Commission (NCC) has authorised telecommunications companies to disconnect the Unstructured Supplementary Service Data codes assigned to nine financial institutions. The directive signed by NCC’s Director of Public Affairs, Reuben Muoka on Tuesday and obtained by Channels Television, noted that the affected banks are to pay the…

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