Tag: Nigerian Banks
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Nigerian Banks Report Steep Decline in Fraud Losses for Q1 2024, FITC Finds
Nigerian banks have taken proactive measures and reported a significant reduction in financial losses due to fraud during the first quarter of 2024, marking...
Nigerian banks ride high on revenue growth through fintech
Nigerian banks reported remarkable revenue growth in Q1 2023, with ₦96.483 billion ($122,694,806) generated from electronic businesses.
The remarkable growth is attributed to the increasing...
Nigeria: Telcos to disrupt SMS banking services due to $185m USSD debt
The row between Nigerian banks and telecommunications operators over the unstructured supplementary service data (USSD) debt seems to have resumed, as telcos disclosed, that...
Nigeria: MTN Bank wrongfully transfers ₦22.3 billion to 8,000 customers
MTN Nigeria’s newly licensed Mobile Money Payment Service Bank Limited (MoMo PSB) has dragged 18 Nigerian banks to court to retrieve ₦22.3 billion (US$53.7...
Nigerian Banks must deploy technology to adapt to regulatory changes and risk management
As one of the most regulated industries in the world, banks are under pressure to not only comply with constantly changing regulations but also...
