Banks to return illegal deductions to customers with interest


The Central Bank of Nigeria (CBN) has said any bank that deducts monies illegally from a customer’s account for products and services would be forced to refund the money to the customer with interest. Mr Fada David, Consumer Complaints Management, Consumer Protection Department, CBN, said this in an interview with the News Agency of Nigeria […]

Technology is changing face of banking, says Wema Bank ED

Technology is changing the way  banking is done, with lenders becoming more technology savvy to meet customers’ needs, Wema Bank Executive Director of Retail & North Directorate, Moruf Oseni has said. Speaking during the Digital Pay Expo 2017, a Fintech industry-focused event held in Lagos, he said banks should take steps that will enable them […]

Nigerians divided on the security of mobile banking

mobile banking survey

In an online study carried out between October and December 2016, result shows that Nigerians are largely divided on the security of mobile banking. 1. Security of mobile banking use Respondents were asked if they believe that the use of mobile banking is secure. 39.44% said they disagree while 7.04% said that they partially disagree. […]

Mobile Banking in Nigeria: Participate in Survey

We are currently conducting a survey on the use of Mobile Banking services in Nigeria. We humbly request that you participate in this survey to enable us gather useful information and data that will provide insights into the use of mobile banking in Nigerians. Thank you for participating. [advanced_iframe securitykey=”0396a3f0d74156b5c152daabe3dca1f30185ba44″ scrolling=”none” src=””] _______________________________________ Survey not […]

Mobile Bank Hacking on the Rise: How to Protect Yourself

Cybercriminals are now increasingly exploring a new way to hack into consumer bank accounts through their mobile phones. By targeting mobile bank apps and stealing customers banking credentials and access information, hackers now hope to create a back door that easily gives them normal and legitimate access to your online bank account. Mobile phones are […]

How inclined are Nigerians to Alternative Banking Channels (ABC)?

Today (Monday 3, June, 2013), the cash-less policy of the Central Bank of Nigeria enters a new phase as the maximum ceiling of N150,000 placed on conversion of third-party cheques to cash by individuals takes off. The implication is that any cheque above N150,000 originating from a third party must be lodged into the beneficiary’s […]

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