The Central Bank of Nigeria (CBN) has revoked the licence of Heritage Bank Plc with immediate effect.

This is according to a statement from the Acting Director, Corporate Communications at the CBN, Mrs Hakama Sidi Ali on Monday.

The statement read: “The Central Bank of Nigeria (CBN), in accordance with its mandate to promote a sound financial system in Nigeria and in the exercise of its powers under Section 12 of the Banks and Other Financial Act (BOFIA) 2020, hereby revokes the licence of Heritage Bank Plc with immediate effect.

“This action has become necessary due to the bank’s breach of Section 12 (1) of BOFIA, 2020. The Board and Management of the bank have not been able to improve the bank’s financial performance, a situation which constitutes a threat to financial stability.”


https://nairametrics.com/2024/06/03/cbn-revokes-heritage-banks-licence-due-to-poor-financial-performance/




https://nairametrics.com/2024/06/03/cbn-revokes-heritage-banks-licence-due-to-poor-financial-performance/

Four days after its repayment plan was due to start, fintech Patricia identified a Nigerian politician, William Bonse, as a culprit in its 2022 $2 million hack.

According to the Nigerian Police Force (NPF), Bonse, who was a gubernatorial candidate in Nigeria’s 2023 elections, reportedly diverted ₦607 million ($760,000) from the fintech’s account into his through a cryptocurrency wallet. Bonse, who is allegedly working with others, had been apprehended by the police who say the politician has “registered his involvement” in the hack.

ICYMI: In May, Patricia was revealed to have suffered a hack in 2022 which cost it $2 million in customer funds. The hack led to several customers being unable to withdraw funds. Since then, Patricia has tried several measures to reassure customers including relaunching its app, offering to turn customer assets into a new Patricia Token, raising funds to repay customers, and even offering customers shares in exchange for their stuck funds.

While, in a May disclosure, the company said it had pinpointed a single culprit, it declined to disclose any details regarding the individual. Bonsu is likely the culprit in this scenario.

Have the funds been recovered? That’s not clear yet. In a press release, CEO Hanu Fejiro said recovery of the amount, while incomplete, would “go a long way to soothe Patricia users."

So far, the company claims it began refunding customers on November 20 as planned, but several customers have declined receiving any payment.


Sources: techcabal.com/2023/11/27/patricia-nigeria-theft/

Schooling abroad is not only about 'I want to japa', it is a choice, your pocket and so other reasons. People goes to ivy schools - Yale, Princeton, Harvard and Oxford even Hult, these schools cost more than $50k
So if I have the money, why won't I?

All the top universities in Scotland are more than £20k and you have so many Nigerians... University of Aberdeen for example, there are more than 70 Nigerians in this January intake and the school fee is £25k. Not all these intake are from very rich family

Soulflai:
Chai guy you no try at all.There are schools paying low as 10k pounds as tuition fee.Why pay that outrageous amount juts to school in UK?

The second name on my international passport is completely different from my second name on other documents (my bank, nin, bank and credentials have the same second name..only my international differ)

quote author=duchess90 post=114963581]Hello

Do you mean completely different, or a shorter version or an error.

You might need to do so, so it links up with the rest of your documents.

Going forward please maintain the same names all through

Cheers
[/quote]

Please, I have this similar issue.... The second name on my int. passport is not the same with both bank statement and credentials. Though, someone advice me to get sworn affivadit to back it up but I'm worry if this will be a concern.

Thank you

duchess90:
Hello

As long as the surname and first name is on his certificate that should be fine and I won't be concerned

2. It also shouldn't be problem for your son's application,what he solely needs is birth certificate and family pictures, and the rest of the relevant consents for your wife's application you can add all the evidence of being together for years randomly selected and your marriage certificate

Cheers

President Kenyatta has signed into law the Central Bank Amendment Bill, 2021.

The development means that the CBK has the power to tame various parts of online lending, including loan apps that have terrorized Kenyans because of their punitive rates and aggressive loan recovery methods.

The CBK has also been given powers to determine the interest rates of online loans.


However, it should be noted the regulator will not necessarily set the lending rate but will give lenders a pricing parameter for the loans.

The principal object of this Bill is to amend the Central Bank of Kenya Act to provide for licensing of digital credit service providers, who are not regulated under any other law. The current position is that there is no legal framework governing digital borrowing platforms. As such, the Central Bank of Kenya will have an obligation of ensuring that there is a fair and non-discriminatory marketplace for access to credit – The CBK Amendment

The law will also see the enforcement of the follows:

license digital credit providers
determine capital adequacy requirements for digital credit providers
determine the minimum liquidity requirements for digital credit providers
approve digital channels and business models through which digital credit business may be conducted
supervise digital credit providers
suspend or revoke a license
direct or require such changes as The Bank may consider necessary.

This law has taken a long time to arrive, but we are glad it is here finally. To this end, also, lenders will no longer abuse personal customer data like calling their contact list in a loan recovery effort because doing so will see them lose their license.

You can read further details about the bill http://www.parliament.go.ke/sites/default/files/2021-08/The%20Central%20Bank%20of%20Kenya%20%28Amendment%29%20Bill%20No.%2010%2C%202021.pdf

https://techweez.com/2021/12/07/central-bank-amendment-bill-2021-signed/?utm_source=newsletter&utm_medium=email&utm_campaign=the_mainone&utm_term=2021-12-08

I think the writer forgot that Offa and Erin-Ile are part of Kwara.......

Please, I need your advice on the PNP I can or prepare to apply to with my under listed details:

1. Age: 33 years
2. ECA: Bachelor Degree
3. IELTS result: L - 7.0; R - 6.05; W - 6.5; S - 7.0
4. Work Experience: over 8 years in NOC 0111 (Financial Manager)

The Central Bank of Nigeria has introduced a N100 monthly maintenance fee for a naira dominated debit card in the country.

There is also a N50 charge for other months whether the card is used or not.

Director financial policy and regulation department, CBN, Kevin Amugo says the apex bank is reviewing the extant Guide to Bank Charges, which came into effect in 2013.

The new charge is separate from the existing N65 charge after the third withdrawal within the same month.

The apex bank also introduced a N4,200-per-annum charge on foreign currency denominated cards as maintenance fee and a N50 charge on every cheque leaflet obtained and used.

http://nigeria.tvcnews.tv/2017/05/09/cbn-introduces-extra-charges-on-atm-cards/

A consortium of some foreign and Nigerian banks on Wednesday took over Etisalat Nigeria after the telecommunications company failed to pay a loan totalling $1.72bn (about N541.8bn) it obtained in 2015.

The Nigerian banks are Guaranty Trust Bank, Access Bank and Zenith Bank.

‎A former executive director at GTB, who was privy to details concerning the loan facility, told The PUNCH that the action became necessary since the Nigerian Communications Commission could not broker a peaceful resolution between Etisalat Nigeria and the banks.

‎According to him, the loan involved a foreign-backed guaranty bond and was given to Etisalat to finance a major network rehabilitation and expansion of its operational base in Nigeria.

He said that after failing to service its debt since 2016, “the banks reported the company to the Central Bank of Nigeria and the NCC.‎”

‎The Ex-GTB executive director said Etisalat management was given the option of filing for bankruptcy but the telecoms firm refused to take the advice. This option, he said, would have required the banks just a management to oversee the telecoms firm’s operations.

He said, “While all these were happening, the management‎ at Guaranty Trust Bank and the other banks concerned had thought that the Nigerian Communications Commission would have used its powers as a regulator to bail the telco out, or advise them accordinly, but it became obvious that the NCC wasn’t so interested. It was merely buying time for Etisalat.”

‎‎Meanwhile, workers at Etisalat blamed the inability of the company to fulfil its obligation to the banks on the current economic recession in Nigeria.

Speaking on the condition of anonymity, one of the workers said,‎”While the management continued to blame the challenge on the economic recession, the banks replied that the Asset Management Company of Nigeria regulations demanding immediate cut down on the rate of their non-performing loans give them no other option.”

She added, “We saw this coming and that is why most of our colleagues, in the last six months, kept resigning.”

Although the NCC is not happy with the takeover, a top source at the regulatory body said, “The commission was left with no option than to approve the takeover. The NCC on Tuesday, March 7, approved the takeover with effect from March 8.”

http://punchng.com/breaking-three-banks-take-over-etisalat-%e2%80%8enigeria/

Job Title: Internal control Officer

Location: Lagos, Nigeria

Salary: 3m-5m

Age: Must not be more than 30 years old



Ideal candidates must have commercial banking experience.

Kindly send your application letter and CV to r.afolabi@oscartemple.com

Four heads of parastatal agencies and college in the nation’s aviation industry have been sacked, according to a government statement. Those relieved of their jobs are the Managing Director of Nigerian Airspace Management Agency (NAMA), Mr Emma Anasi, and the Director General of the Nigerian Meteorological Agency (NiMet), Dr Anthony Anuforom. Others are the Rector of the Nigerian College of Aviation Technology (NCAT), Zaria, Mr Samuel Caulcrick and the Commissioner of Accident Investigation Bureau. A statement by the Permanent Secretary, Federal Ministry of Transportation, Alhaji Sabiu Zakari said on Monday in Abuja that President Muhammadu Buhari has approved the sack and the appointments of new chief executive officers to run the agencies. Mr Fola Akinkuotu has been named the new Managing Director of NAMA. Akinkuotu is a seasoned Transport Pilot, Flight and Aircraft Maintenance Engineer, Airline Chief Executive Officer as well as a trained Aviation Industry Regulator. Also, Prof. Sani Mashi, a professor of Geography with speciality in Environmental Application of Remote Sensing will hold sway in NiMet as Director-General. According to the statement, Mashi is currently a Deputy Vice-Chancellor at the University of Abuja. Capt. Abdulsalam Mohammed, a renowned civil aviation trainer and examiner with accreditation by the Nigeria Civil Aviation Authority and the Federal Civil Aviation Administration, is the new Rector of NCAT, Zaria. Similarly, Mr Akinola Olateru, an engineer of international repute, will take over as the head of the Accident Investigation Bureau. Olateru is a trained Air Accident Manager and Certified Safety Officer with Aircraft Maintenance Engineering licenses in Nigeria, U.S. and the United Kingdom.

Read more at: http://www.vanguardngr.com/2017/01/breaking-buhari-sacks-heads-nigerian-aviation-agencies/

You can read the detail report on http://www.resourcegovernance.org/sites/default/files/documents/nrgi_nnpc-still-holds-blank-check_0.pdf
The report acknowledged Buhari's reform on oil sector.

The Federal Government has declared Monday, December 12 as public holiday to mark the Eid-El Maulud celebration.
Minister of Interior, Abdulrahman Bello Dambazau who made the declaration on behalf of the Federal Government, enjoined all Muslim faithful and Nigerians in general to cooperate and join hands with President Muhammadu Buhari, “as he works tirelessly to build a strong, united and peaceful Nation”. A statement signed by the acting Permanent Secretary in the ministry, Muhammadu Maccido quoted the minster as urging “all Nigerians to use the occasion to pray for peace across the nation, while calling on all to be patient and supportive of the present administration for the successful implementation of its laudable programmes”.

Read more at: http://www.vanguardngr.com/2016/12/eid-il-maulud-fg-declares-monday-public-holiday/

See the attached, how on earth the guy missed the goal//