The hottest Banking Substack posts right now

And their main takeaways
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Top Finance Topics

Alert: Central Bank of Nigeria Circular PSM/DIR/PUB/CIR/01/026

RegAlert • 0 implied HN points • 08 Sep 21
💰 Finance Banking
  1. Financial institutions in Nigeria must process bulk payments with detailed breakdowns of recipient accounts.
  2. Credits in bulk transfers must be retained by sender's banks, as per the recent regulations.
  3. Compliance with the new payment system regulations, like the one stated in Circular PSM/DIR/PUB/CIR/01/026, is compulsory.

Alert: Central Bank of Nigeria Circular BSD/DIR/PUB/14/063

RegAlert • 0 implied HN points • 02 Sep 21
💰 Finance Banking
  1. The Central Bank of Nigeria issued new leverage ratio guidelines in September 2021 to ensure financial institutions maintain adequate capital in relation to their risk exposure and activities.
  2. Financial institutions are expected to comply with the outlined principles in the guidelines.
  3. In addition to compliance, timely submission of required reports is crucial for financial institutions.

Alert: Central Bank of Nigeria Circular BSD/DIR/PUB/14/063

RegAlert • 0 implied HN points • 02 Sep 21
💰 Finance Banking
  1. Financial institutions must comply with guidelines on large exposures for financial stability
  2. Guidelines address concentration risk, monitor exposures, and implement risk management systems
  3. Circular provides detailed instructions on reporting requirements, exposure limits, and risk measurement methodologies

Alert: Central Bank of Nigeria Circular BSD/DIR/PUB/14/063

RegAlert • 0 implied HN points • 02 Sep 21
💰 Finance Banking
  1. The Central Bank of Nigeria issued new guidelines on liquidity monitoring tools (LMT) in September 2021 to improve liquidity risk management in financial institutions.
  2. Financial institutions must now establish robust LMT frameworks to effectively identify and address liquidity risks in a timely manner.
  3. Institutions are required to regularly submit detailed LMT reports to the regulatory body for monitoring and supervision purposes.
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Alert: Central Bank of Nigeria Circular BSD/DIR/PUB/14/063

RegAlert • 0 implied HN points • 02 Sep 21
💰 Finance Banking
  1. The Central Bank of Nigeria issued Circular BSD/DIR/PUB/14/063 regarding Guidelines on Liquidity Coverage Ratio (LCR)
  2. Financial institutions must comply with the LCR guidelines, maintain adequate liquidity buffers, and meet minimum LCR requirements
  3. Institutions are responsible for submitting monthly LCR reports to the Central Bank

Alert: Central Bank of Nigeria Circular BSD/DIR/PUB/14/063

RegAlert • 0 implied HN points • 02 Sep 21
💰 Finance Banking
  1. The Central Bank of Nigeria issued revised guidelines on supervisory review process for internal capital adequacy assessment to enhance supervision and risk management in financial institutions.
  2. Financial institutions in Nigeria are required to comply with the new guidelines to ensure accurate assessment of internal capital adequacy.
  3. The aim of the revised guidelines is to strengthen the supervision and risk management practices in the financial sector of Nigeria.

Alert: Central Bank of Nigeria Circular FPRD/DIR/PUB/CIR/01/020

RegAlert • 0 implied HN points • 19 Aug 21
💰 Finance Banking
  1. Microfinance Banks in Nigeria are required to adhere to strict guidelines outlined by the Central Bank, including focusing on providing financial services to retail and micro-clients, rather than engaging in foreign exchange transactions.
  2. At least 80% of the total loan portfolios for Microfinance Banks should be allocated to micro credit facilities, as per the Revised Regulatory and Supervisory Guidelines.
  3. The Circular FPRD/DIR/PUB/CIR/01/020 issued by the Central Bank of Nigeria emphasizes the cessation of non-permissible activities for Microfinance Banks.

Alert: Central Bank of Nigeria Circular OFI/DOA/CON/CIR/003/061

RegAlert • 0 implied HN points • 12 Aug 21
💰 Finance Banking
  1. The Central Bank of Nigeria has released a circular regarding a risk-based cyber security framework for Other Financial Institutions.
  2. The circular is titled OFI/DOA/CON/CIR/003/061 and was published on August 12, 2021.
  3. Interested parties can download the details of the framework and guidelines from the official Central Bank of Nigeria website.

Alert: Central Bank of Nigeria Circular FPR/DIR/PUB/CIR/01/012

RegAlert • 0 implied HN points • 04 Aug 21
💰 Finance Banking
  1. The Central Bank of Nigeria issued guidelines to regulate and supervise credit guarantee companies to support MSMEs by reducing credit risk and driving lower interest rates on loans.
  2. Stakeholders in the financial services industry are encouraged to review the draft guidelines and provide feedback within three weeks.
  3. The aim of the guidelines is to improve access to lending for micro, small, and medium-scale enterprises in Nigeria.

Alert: Central Bank of Nigeria Circular PSM/DIR/CON/INM/011/142

RegAlert • 0 implied HN points • 02 Aug 21
💰 Finance Banking
  1. The Central Bank of Nigeria has issued guidelines for the licensing and regulation of Payments Service Holding Companies in Nigeria.
  2. The circular PSM/DIR/CON/INM/011/142 outlines the specific requirements and directives for these companies.
  3. Those interested can download the detailed guidelines from the official website of the Central Bank of Nigeria.

Alert: Central Bank of Nigeria Circular FPR/LAD/INT/BDC/01/095

RegAlert • 0 implied HN points • 29 Jul 21
💰 Finance Banking
  1. Financial institutions in Nigeria are required to refund capital deposits and licensing fees to promoters with pending Bureaux de Change (BDC) license applications.
  2. BDC promoters must provide written requests along with necessary documents for the refund, including the telex copy of the capital deposit, account details, and bank draft/telex for licensing fees.
  3. Deposit Money Banks in Nigeria should cease accepting instructions to transfer capital deposits for BDC license applications as per the recent directive from the Central Bank of Nigeria (CBN).

Alert: Central Bank of Nigeria Circular FPR/DIR/CIR/GEN/01/015

RegAlert • 0 implied HN points • 30 Jun 21
💰 Finance Banking
  1. The post highlights a circular from the Central Bank of Nigeria that provides a list of licensed finance companies as of June 30, 2021.
  2. The circular includes the names and addresses of the finance companies mentioned.
  3. Readers can download the full circular, FPR/DIR/CIR/GEN/01/015, from the provided link on the Central Bank of Nigeria website.

Alert: Central Bank of Nigeria Circular FPR/DIR/CIR/GEN/01/016

RegAlert • 0 implied HN points • 30 Jun 21
💰 Finance Banking
  1. The post lists licensed microfinance banks in Nigeria as of June 30, 2021 with details like names, addresses, tier 1 or tier 2 status, and state or national status.
  2. The Circular FPR/DIR/CIR/GEN/01/016 provides important information for those interested in the microfinance sector in Nigeria.
  3. The document is accessible for download from the Central Bank of Nigeria website.

Alert: Central Bank of Nigeria Circular FPR/DIR/CIR/GEN/01/013

RegAlert • 0 implied HN points • 30 Jun 21
💰 Finance Banking
  1. Financial institutions should review the list of licensed payment service banks in Nigeria as of June 30, 2021.
  2. The list includes companies like Hope PSB Limited, Moneymaster PSA Limited, and 9 PSA Limited based in Lagos.
  3. The Central Bank of Nigeria's Circular FPR/DIR/CIR/GEN/01/013 contains important information for financial institutions.

Alert: Central Bank of Nigeria Circular FPR/DIR/CIR/GEN/01/017

RegAlert • 0 implied HN points • 30 Jun 21
💰 Finance Banking
  1. The circular provides a list of Primary Mortgage Banks (PMBs) in Nigeria as of June 30, 2021, with details on their addresses and locations.
  2. The specific names of the Primary Mortgage Banks are not mentioned in the circular.
  3. This information is available for access and download from the Central Bank of Nigeria's website.

Alert: Central Bank of Nigeria Circular FPR/DIR/CIR/GEN/01/018

RegAlert • 0 implied HN points • 30 Jun 21
💰 Finance Banking
  1. The post discusses a circular from the Central Bank of Nigeria regarding a list of Deposit Money Banks as of June 30, 2021, classified based on their licensing authorization and head office addresses.
  2. Financial institutions are required to adhere to the specific list of deposit money banks mentioned in the circular, categorized by their licensing authorization types (international, national, regional) and the locations of their head offices.
  3. The circular emphasizes the inclusion of institutions with commercial banking licenses and international, national, or regional authorizations, providing clarity on the types of institutions covered and their distinctions.

Alert: Central Bank of Nigeria Circular FPR/LAD/CON/BDC/006/100

RegAlert • 0 implied HN points • 23 Jun 21
💰 Finance Banking
  1. Financial institutions in Nigeria must pay their Annual Licence Renewal Fees by 31st March each year from their operating accounts in the names of the institutions to avoid sanctions.
  2. Payments must be made within the regulatory deadline to be considered for processing by the Central Bank of Nigeria.
  3. Non-compliance with the payment of Annual Licensing Renewal Fees may lead to necessary sanctions being imposed by the Central Bank of Nigeria.

Alert: Central Bank of Nigeria Circular NTBs Issue Programme

RegAlert • 0 implied HN points • 01 Jun 21
💰 Finance Banking
  1. The Central Bank of Nigeria has released a circular outlining the Treasury Bills issue programme for the third quarter of 2021, detailing the dates, values, and amounts for the 91-day, 182-day, and 364-day bills.
  2. The total value of the Treasury Bills issued for the quarter is 121,376,867, but it is important to note that the offer amounts are subject to change with short notice.
  3. Further details about the NTBs Issue Programme can be found by downloading the document provided in the post from the Central Bank of Nigeria's website.

Alert: Central Bank of Nigeria Circular FPR/DIR/GEN/CIR/01/011

RegAlert • 0 implied HN points • 31 May 21
💰 Finance Banking
  1. The circular provides a list of licensed payment service banks as of March 31, 2021, including institutions like Hope PS3 Limited and Moneymaster PS3 Limited.
  2. The circular includes the head office addresses of the listed payment service banks for reference.
  3. Interested individuals can download the full circular, which is titled FPR/DIR/GEN/CIR/01/011, from the Central Bank of Nigeria website.

Alert: Central Bank of Nigeria Circular PSM/DIR/CON/INM/011/008

RegAlert • 0 implied HN points • 28 May 21
💰 Finance Banking
  1. The Central Bank of Nigeria has released a Regulatory Framework for Non-Bank Merchant Acquiring in Nigeria, setting rules and standards for services.
  2. Various stakeholders, including banks and financial institutions, must adhere to this framework and other related regulations.
  3. Continuous monitoring and guidance will be provided by the Central Bank to ensure compliance.

Alert: Central Bank of Nigeria Circular FPR/DIR/PUB/CIR/01/004

RegAlert • 0 implied HN points • 26 May 21
💰 Finance Banking
  1. The Central Bank of Nigeria issued guidelines for shared services in the banking sector to address governance, financial management, and tax concerns, aiming to prevent abuse and ensure compliance by June 1, 2022.
  2. The guidelines focus on streamlining activities of institutions involved in shared services and transfer pricing.
  3. It is essential for institutions in the banking industry to adhere to these guidelines to prevent the misuse of shared services agreements as tax shields.

Alert: Central Bank of Nigeria Circular COD/DIR/INT/CIR/001/002

RegAlert • 0 implied HN points • 20 Apr 21
💰 Finance Banking
  1. Financial institutions in Nigeria must accept old and lower denominations of United States Dollars as legal tender or face sanctions.
  2. Authorized forex dealers are advised to avoid defacing or stamping US Dollar banknotes to preserve their authenticity.
  3. The Central Bank of Nigeria Circular COD/DIR/INT/CIR/001/002 provides details on the rejection of old/lower denominations of USD by DMBs and FOREX dealers.

Alert: Central Bank of Nigeria Circular FPRD/DIR/PUB/CIR/01/002

RegAlert • 0 implied HN points • 09 Apr 21
💰 Finance Banking
  1. Financial institutions in Nigeria must enroll in the CRMS and report credit facilities monthly, tagging credit files of borrowers with BVN and TIN by May 14, 2021. Non-compliance could lead to sanctions.
  2. Development Finance Institutions (DFIs), Microfinance Banks (MFBs), Primary Mortgage Banks (PMBs), and Finance Companies (FCs) are among the institutions required to enroll in the CRMS.
  3. The Circular FPRD/DIR/PUB/CIR/01/002 issued by the Central Bank of Nigeria provides details on the enrollment process and requirements for financial institutions.

Alert: Central Bank of Nigeria Circular FPR/DIR/GEN/CIR/01/008

RegAlert • 0 implied HN points • 31 Mar 21
💰 Finance Banking
  1. The circular lists licensed microfinance banks in Nigeria as of March 31, 2021, categorized by tiers such as national, state, tier 1, and tier 2.
  2. The circular does not specify the issuing institution for the list of microfinance banks in Nigeria.
  3. The list includes various microfinance banks located in different states across Nigeria.

Alert: Central Bank of Nigeria Circular FPR/DIR/GEN/CIR/01/006

RegAlert • 0 implied HN points • 31 Mar 21
💰 Finance Banking
  1. The circular requests financial institutions to provide a list of deposit money banks by category and their respective head office addresses as of March 31, 2021.
  2. The institutions listed in the circular include those with commercial banking licenses with international, national, and regional authorization.
  3. The head office addresses provided in the circular are mainly located in Lagos state.

Alert: Central Bank of Nigeria Circular FPR/DIR/GEN/CIR/01/010

RegAlert • 0 implied HN points • 31 Mar 21
💰 Finance Banking
  1. The circular provides a list of 28 Primary Mortgage Banks (PMBs) in Nigeria, with their names and addresses, as of March 31, 2021.
  2. The PMBs are located in various states across Nigeria, including Lagos, Abuja, Akwa Ibom, Delta, and Jigawa.
  3. You can access the full circular with the list of PMBs at the Central Bank of Nigeria's website.

Alert: Central Bank of Nigeria Circular FPR/DIR/CIR/GEN/01/005

RegAlert • 0 implied HN points • 30 Mar 21
💰 Finance Banking
  1. The Central Bank of Nigeria issued Circular FPR/DIR/CIR/GEN/01/005 regarding Bureaux De Change Institutions as of March 31, 2021.
  2. The circular contains a list of Bureaux De Change Institutions as of the specified date, providing transparency and regulatory information.
  3. This announcement was made public by the Central Bank of Nigeria through official channels for public awareness and compliance purposes.

Alert: Central Bank of Nigeria Circular FMD

RegAlert • 0 implied HN points • 18 Mar 21
💰 Finance Banking
  1. The Central Bank of Nigeria has issued a circular regarding the Nigerian Treasury Bills Issue Programme for the second quarter of 2021.
  2. Financial institutions are being asked to participate in this programme, with specific dates and values provided for the maturing bills and the issue bills.
  3. It's important to note that the offer amounts mentioned in the circular are subject to change at short notice.

Alert: Central Bank of Nigeria Circular TED/FEM/PUB/FPC/01/003

RegAlert • 0 implied HN points • 06 Mar 21
💰 Finance Banking
  1. The Central Bank of Nigeria has introduced the 'CBN Naira 4 Dollar Scheme' to incentivize senders and recipients of international money transfers.
  2. Recipients of diaspora remittances through CBN licensed IMTOs will receive N5 for every USD received, regardless of whether they collect the cash or transfer it into their domiciliary account.
  3. The 'Naira 4 Dollar Scheme' is effective from March 8, 2021, to May 8, 2021.

Alert: Central Bank of Nigeria Circular PSM/DIR/PUB/CIR/02/01

RegAlert • 0 implied HN points • 17 Feb 21
💰 Finance Banking
  1. The Central Bank of Nigeria has issued a regulatory framework for open banking to encourage innovation and financial inclusion.
  2. The framework establishes principles for data sharing, including requirements for data and API access, technical design, and information security.
  3. Operational guidelines related to the open banking framework will be provided at a later date.

Alert: Central Bank of Nigeria Circular TED/FEM/FPC/PUB/001/001

RegAlert • 0 implied HN points • 22 Jan 21
💰 Finance Banking
  1. Only licensed International Money Transfer Operators (IMTOs) can handle diaspora remittances into Nigeria.
  2. Diaspora remittances in Nigeria must be received in foreign currency, either in cash or transferred to domiciliary accounts.
  3. IMTOs are prohibited from disbursing diaspora remittances in Naira or through Nigerian financial payment platforms.

Afridigest Fintech Review: Carbon captures Vella to bring about business banking breakthrough

Afridigest • 0 implied HN points • 19 Feb 24
💼 Business Banking
  1. Two fintech financing transactions and two M&A deals were announced recently in the African fintech scene.
  2. Tunisia joined the Pan African Payments and Settlement System (PAPSS), becoming the thirteenth central bank member and the first from North Africa.
  3. Notable companies like Carbon, Vella Finance, Flutterwave, and executives from various fintech organizations were highlighted in the Fintech Review.

Reports of our death are an exaggeration Part 1

The Jolly Contrarian • 0 implied HN points • 17 Nov 23
🕹 Technology Banking
  1. Reports of our death being exaggerated, partly due to fears of technology replacing humans. However, humans excel in ambiguity and novelty that machines can't handle.
  2. In banking, big tech companies like FAANGS have superior technology and reputation compared to traditional banks. The main advantage banks have is in regulation and compliance, areas where tech firms struggle.
  3. Quality people and leadership remain crucial in industries like banking, where human qualities like improvisation and judgment set us apart from machines. Competing with machines on their strengths can lead to our downfall.

The Federal Reserve and the War on Health Freedom

Harnessing the Power of Nutrients • 0 implied HN points • 14 Jan 10
🇺🇸 U.S. Politics Banking
  1. The Federal Reserve can create money, a privilege that would land others in prison - this process transfers wealth from the people to banks and corporations.
  2. Fractional reserve banking allows for the creation of money out of thin air, leading to devaluation of the dollar and shifting of wealth to politically favored industries.
  3. While the Federal Reserve itself doesn't significantly profit, banks and favored corporations benefit greatly by receiving newly created money first, impacting the value of money received by others later.

USDV

Thái | Hacker | Kỹ sư tin tặc • 0 implied HN points • 01 Feb 18
💰 Finance Banking
  1. The concept of a state-backed digital currency like USDV could improve credibility and boost Vietnam's credit by attracting a large reserve of USD.
  2. USDV could streamline remittances by allowing direct conversion between USD and VND, bypassing intermediaries.
  3. Having a stable digital currency like USDV issued and controlled by the Vietnamese state could provide a reliable medium of exchange, ensuring steady value compared to volatile cryptocurrencies like Bitcoin.

Sự cố Vietcombank, một góc nhìn kỹ thuật

Thái | Hacker | Kỹ sư tin tặc • 0 implied HN points • 16 Aug 16
🕹 Technology Banking
  1. Vietcombank encountered a security incident involving a customer's stolen funds, prompting technical analysis and identification of potential attack methods like phishing and exploiting vulnerabilities in the Smart OTP system.
  2. Smart OTP, a feature of Vietcombank, was found to have vulnerabilities that could be exploited by attackers to gain control over customer accounts, highlighting the importance of robust security protocols in online banking systems.
  3. The importance of independent security audits, continuous monitoring, and prompt responsiveness to security reports is crucial for financial institutions like Vietcombank to safeguard customer data and prevent unauthorized access.