CBN Suspends Interchange Charges On Electronic Payment

The Central Bank of Nigeria (CBN) has suspended the implementation of inter change regime on electronic payment that involves merchant service until further notice. Director, banking and payments system department, CBN Mr Dipo Fatokun, in a signed circular to merchant acquirers, card issuers, card schemes, among other stakeholders explained that the apex banking regulating had…

PMB Appoints New Management For Nexim Bank

President Muhammadu Buhari has approved the appointment of Abubakar Abba Bello as the new Managing Director of Nigeria Export-Import Bank (NEXIM). This is contained in a statement issued by the director media, Bolaji Adebiyi in the office of the Secretary to the government of the federation. He said also appointed are Dr. Bala Mohammed Bello…

Customer sue Stanbic IBTC Bank for N2 Billion over breach of contract

A limited liability company, Infinity Snacks and Beverages Limited,alleged to have suffered economic misfortune as a result of breach of contract by Stanbic IBTC bank Plc has slammed N2billion suit on the said bank. In a statement of claim filed before a Lagos high court,south west Nigeria by a Lagos lawyer, Barrister Olumide Sofowora SAN, […]