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Cash-less Nigeria is a policy established in the year 2012 by the Central Bank of Nigeria to curb excesses in the handling of cash in the Nigerian federation. It prescribed a cash handling charges on daily withdrawal above five hundred thousand Naira (N500,000.00) for individuals and three million Naira for corporate bodies (N3, 000,000.00).
It plays a major role in shaping financial legislation and ensuring the stability and accountability of Nigeria's financial institutions. Over the years, the committee has contributed to formulating and amending key laws, such as the Banks and Other Financial Institutions Act (BOFIA), which governs banking operations in Nigeria. [5]
Nairametrics is a Nigerian online newspaper that focuses on business and economic current affairs. It was established in 2013 by Obi-Chukwu Ugodre as a product of Nairametrics Financial Advocates Limited.
The laws of each country specify how bank accounts may be opened and operated. They may specify who may open an account, for example, how the signatories can identify themselves, deposit and withdrawal limits among other specifications. The minimum age for opening a bank account is most commonly 18 years.
Yono Lite is a mobile banking application from the State Bank of India. [ 7 ] [ 8 ] Earlier, it was available as "SBI Anywhere Personal" but it was rebranded as "Yono Lite" in 2018, after the introduction of YONO app. [ 9 ] In 2021, Yono Lite saw several updates to protect its users from digital frauds.
A Nigerian rights group asked the High Court in the federal capital Abuja to force the government to account for Abacha's loot since the country returned to civilian rule in 1999.
The News Agency of Nigeria (NAN) is a news reporting agency owned and run by the Federal Government of Nigeria just like Nigerian Television Authority. [1] NAN was formed in part to disseminate news easily across the country and to the international community and also as a means to counter negative stories about Nigeria. [2]
This also made Nigeria the last country in the world to abandon the £sd currency system in favour of a decimal currency system. There was a government plan to redenominate the naira at 100:1 in 2008, but the plan was suspended. The currency sign is U+20A6 ₦ NAIRA SIGN. The name "Naira" was coined from the word "Nigeria" by Obafemi Awolowo.