MONEYLENDER’S LICENCE AND APPLICATION
Lending money to receive interest on payback is considered illegal [...]
COVID-19, Outrageous Pricing and the Law
In a bid to curb the spread of corona virus [...]
CBN’s New Global Standing Instruction Guidelines
A creditor bank can recover the principal sum, which is the loan amount or the total sum granted or disbursed to the borrower, as well as the accrued interest on the loan, stated in the loan agreement.
MICROFINANCE BANKING IN NIGERIA
Microfinance is an array of financial services, including loans, savings [...]
PAYMENT FOR GOODS AND SERVICES IN NIGERIA WITH FOREIGN CURRENCY
There is currently a growing practice of trading goods and [...]
THE FREEZING OF BANK ACCOUNTS WITHOUT BVN
Nigeria is currently abuzz with the news that the Federal High Court has granted the Federal Government an interim order directing commercial banks to freeze any and all bank accounts without Bank Verification Numbers (BVN) including individuals, corporate bodies and government agencies and publish the names and details of the customers