CBN Slaps N100m Penalty On Banks For Forex Violations – 7 Key Things You Must Know
The news says: The Central Bank of Nigeria (CBN) has set a N100 million penalty for banks that process foreign exchange transactions without adequate documentation, as part of a sweeping compliance regime unveiled in its newly released Foreign Exchange Manual (fourth edition). The manual, issued by the CBN’s Trade and Exchange Department in May 2026, […]
5 Things You Must Know About CBN’s Deadline For POS Geo-Fencing Compliance
The news says: The Central Bank of Nigeria (CBN) has announced a deadline for Point of Sale (POS) operators to comply with its geo-fencing requirements, mandating that all POS terminals must be registered and tracked to specific physical locations. Join Akahi News VIP WhatsApp Channel for Breaking News Alerts, Direct to Your Phone Take your […]
CBN Smashes Fake News: No ₦5,000 Note With Tinubu’s Face in Circulation
Akahi News learnt that the Central Bank of Nigeria has officially debunked viral claims suggesting the apex bank is planning to introduce a ₦5,000 banknote bearing the face of President Bola Ahmed Tinubu. The news, which spread like harmattan fire across social media platforms, has been declared completely false. Join Akahi News VIP WhatsApp Channel […]
Union Bank Status Unchanged Under CBN Intervention, Says Apex Bank
Akahi News learnt that Union Bank remains under Central Bank of Nigeria intervention management, with the apex bank insisting that the lender’s status is unchanged and fully capable of meeting its obligations to customers. Join Akahi News VIP WhatsApp Channel for Breaking News Alerts, Direct to Your Phone Take your QuickBooks, Sage 50 to the […]
CBN Orders Banks to Refund Customers for Failed ATM Transactions Within 48 Hours
CBN Orders Banks to Refund Customers for Failed ATM Transactions Within 48 HoursBy Joseph Iyaji | Akahi News Join Akahi News VIP WhatsApp Channel for Breaking News Alerts, Direct to Your Phone Take your QuickBooks, Sage 50 to the Cloud with McSea Cloud Hosting. Call 08024504321. The directive, contained in a new draft guideline titled […]
CBN’s New PoS Guidelines: 10 Key Rules Every Agent Must Understand
CBN’s New PoS Guidelines: 10 Key Rules Every Agent Must Understand By Joseph Iyaji | Akahi News Join Akahi News VIP WhatsApp Channel for Breaking News Alerts, Direct to Your Phone Take your QuickBooks, Sage 50 to the Cloud with McSea Cloud Hosting. Call 08024504321. The updated Guidelines for the Operations of Agent Banking in […]
CBN Mandates Geo-Tagging for All POS Terminals to Curb Fraud
CBN Mandates Geo-Tagging for All POS Terminals to Curb Fraud By Joseph Iyaji | Akahi News Join Akahi News VIP WhatsApp Channel for Breaking News Alerts, Direct to Your Phone Take your QuickBooks, Sage 50 to the Cloud with McSea Cloud Hosting. Call 08024504321. Under the new rule, every POS device must be linked to […]
Nigeria’s Tier-2 Banks Face Intensifying Pressure Ahead of CBN Recapitalisation Deadline
Nigeria’s Tier-2 Banks Face Intensifying Pressure Ahead of CBN Recapitalisation DeadlineBy Joseph Iyaji | Akahi News Join Akahi News VIP WhatsApp Channel for Breaking News Alerts, Direct to Your Phone Take your QuickBooks, Sage 50 to the Cloud with McSea Cloud Hosting. Call 08024504321. In 2024, the CBN directed all commercial banks to raise their […]
Central Bank Governor Links Government Food Purchases to Soaring Inflation in Nigeria
Central Bank Governor Links Government Food Purchases to Soaring Inflation in Nigeria Join Akahi News VIP WhatsApp Channel for Breaking News Alerts, Direct to Your Phone Take your QuickBooks, Sage 50 to the Cloud with McSea Cloud Hosting. Call 08024504321. In an effort to combat rising inflation, the MPC has raised the benchmark interest rate […]