CBN To Sanction Banks Over Renewal Of Licence | Nigeria News
Connect with us

BREAKING

CBN To Sanction Banks Over Renewal Of Licence

Published

on

The Central Bank of Nigeria has threatened to sanction banks that do not renew their operating licence in time

CBN Threatens Banks, E-Payment Operators Over Licence Renewal

The Central Bank of Nigeria has threatened to sanction banks that do not renew their operating licence in time

The Central Bank of Nigeria has threatened to sanction banks that do not renew their operating licence in time

The Central Bank of Nigeria has issued a warning to all banks and electronic payment service providers that failure to renew their operating licence within the stipulated deadline would attract a daily fine of N10,000.

The CBN Director of Banking and Payment System Department (BPSD), Mr Dipo Fatokun made this known in a circular titled, “Re: Sanctions on erring banks/e-payment service providers for infractions of payment system rules and regulations.”

Read also: NDIC Warns Against Bitcoins, Wonder Banks

The CBN posited: “Please informed that operators in the National Payment System shall be sanctioned with a penalty of N10,000 per day for as long as the infractions below subsist:

“Failure to apply for renewal of an operating licence three months before the date of expiration of the license.

“Failure to regularise and respond to observations/exceptions noted by the Bank in the course of processing and application for the renewal of an operating license within three weeks.”

Mr Fatokun further disclosed that the sanctions would become effective as from April 1st this year.

Please share this info from NIGERIA NEWS, it is VERY important for all
  •  
  •  
  •  
  •  
  •  
  •  

Content Provider, Broadcast Journalist, Sports Producer, Presenter & Analyst, Social Commentator and Language Expert. Twitter: @damola_ogungbe You can reach me at [email protected]

BREAKING

President Muhammadu Buhari Offers A Condolence To The Jigawa State Governor

Published

on

President Muhammadu Buhari Offers A Condolence To The Jigawa State Governor

The President of the Federal Republic of Nigeria, Muhammadu Buhari Offers Condolences to the Jigawa state Governor, Abubakar Badaru due to the death of his mother in law Hajiya Binta Garba Tasha Funtua, NIGERIA NEWS reports.

Mr. President offered the condolences via his spokesperson, Garba Shehu on Sunday.

Presidential condolence message hereby goes, “I am profoundly touched by the passing of your mother-in-law, Hajiya Binta Garba Funtua and I join your entire family in mourning the inspiring mother.

“Your Excellency, words cannot express my grief over the demise of this great woman. My thoughts and prayers go out to you and all members of your family at this difficult time.

“While extending my condolences for this irreparable loss, I pray to Almighty God to comfort you and members of your family. May Allah forgive her shortcomings and reward her good deeds with aljanna. Amin thumma Amin.’’

Please share this info from NIGERIA NEWS, it is VERY important for all
  •  
  •  
  •  
  •  
  •  
  •  
Continue Reading

BREAKING

Umar Ganduje Has Taken An Aggressive Move On The Alleged Missing N6.8M At The Zoo (Full Details)

Published

on

Umar Ganduje Has Taken An Aggressive Move On The Alleged Missing N6.8M At The Zoo (Full Details)

The Kano state Governor, Abdullahi Umar Ganduje has taken a step on the alleged Gorilla that swallows the sum of 6.8 million naira at the Zoo, NIGERIA NEWS reports.

The incident which happened during the Eid-Fitr celebration and this has made the Governor of the state, Umar Ganduje to reacts in giving an order to get to the root of the matter.

According to the report gathered from the Managing Director of the Zoo, Umar Kobo, he narrated the ordeals by stating that:

“The issue is under investigations for now and I don’t want to say anything on the matter, many journalists have come to meet me but I don’t want to talk anything.

“What I can confirm is that money is missing.”

The Police representative in Kano, Abdullahi Haruna reveal the reports which state that 10 people that were on duty when the incident occurred have been apprehended and the investigation into the root of the matter is currently ongoing.

Mr. Haruna states as quoted below:

“Yes, it is true that money from five days of Sallah festivities is missing from the Kano zoo

“As at now, we have arrested 10 members of staff of the zoo including the security man and those working in the finance unit.”

The NIGERIA NEWS earlier reports that Ganduje has instructed the Anti-corruption commission to probe anyone involved in the incident. The order was reported by the Chief Press Secretary to the Governor, Abba Anwar.

Please share this info from NIGERIA NEWS, it is VERY important for all
  •  
  •  
  •  
  •  
  •  
  •  
Continue Reading
Advertisement

contact us

email for nigerianews

NigeriaNews_net

Advertisement

Trending