Tag: Deposit money banks

CBN fines 9 banks ₦150m each for ATM cash scarcity

Aminu Imam
CBN fines

The Central Bank of Nigeria, (CBN), has sanctioned nine Deposit Money Banks (DMBs) with fines totalling ₦1.35bn for failing to ensure cash availability via Automated Teller Machines, (ATMs) during the festive season. According to a press statement issued by the Acting Director of Corporate Communications of the Bank, Mrs. Hakama Sidi Ali, each of the banks was fined ₦150m following spot checks that revealed non-compliance with the apex bank’s cash distribution guidelines. The affected banks include Fidelity Bank Plc, First Bank Plc; Keystone Bank Plc; Union Bank Plc; Globus Bank…

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Equitable Revenue Distribution: Coalition calls for banks to move HQs to Abuja 

Aminu Imam
Coalition on banks HQs

…Demands reopening of land borders The Coalition of Northern Groups, (CNG), Civil Society Organisations, (CSOs), and other critical stakeholders in northern Nigeria have called for the immediate relocation of the nation’s deposit banks’ headquarters to Abuja. This was contained in a statement co-signed by Comrade Muhammed Usman Deba, Gombe State Coordinator, CNG; Comrade Habiba Isah Gaude, Voice for Rural Women, and Comrade Lawal Idris Lawantee, Acting Chairman, CSOs, following a town hall meeting in Gombe State. According to the statement, it is unjust for banks to situate their headquarters in…

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