Nigeria Banking Blog

Nigerian banks block usage of Naira cards for foreign transactions

For many Nigerian bank customers who want to make payments in foreign currencies, they can no longer do so with their Naira cards even if th - Thursday October 20, 2016 16:59:10 - [Read more]

How does one get bank alert notification outside Nigeria?

One of the questions someone recently asked me about bank alerts was how to keep receiving bank alerts even when he is outside the country.W - Saturday October 8, 2016 11:51:1 - [Read more]

Using a cheque to transfer money from one bank to another in Nigeria

Is it possible to transfer money from one bank to another using a cheque? Yes it is and one way many of us are already used to is by deposit - Wednesday September 28, 2016 15:12:8 - [Read more]

My experience at using UBA's USSD based airtime top up service

You can now reload your airtime balance by simply dialing *919*Amount# if you have a UBA account.I recently visited a UBA branch where I had - Wednesday September 21, 2016 15:18:31 - [Read more]

Nigerians can now pay Cheques into savings accounts

One of the benefits of having a savings account now in Nigeria is that users can now cash their cheques into their accounts and don't need t - Saturday September 17, 2016 12:58:19 - [Read more]

UBA bank also accepts cash deposits without the need to fill deposit slips

The first bank I had that wonderful experience was with Diamond bank and now it seems that UBA has also joined in as I didn't have to fill i - Friday September 16, 2016 8:4:6 - [Read more]

Nigerian banks are sacking workers

One of the things I've noticed lately as I visit the bank as a bank customer in Nigeria is that a lot of banks are sacking their workers. So - Wednesday September 14, 2016 17:59:41 - [Read more]

How I transferred money from GTBank with my mobile phone

I was standing on a queue this day and the main reason why I went to the bank which I rarely do was to cash a cheque because I needed to tak - Wednesday September 14, 2016 17:42:57 - [Read more]

How Nigerian banks can attract and retain customers

I can't remember the last time I went to a particular bank to deposit money and the reason I stopped doing so for about 6 months now is bec - Friday September 2, 2016 9:59:27 - [Read more]

GTBank Naira MasterCard exchange rate per US dollar

I was charged N380 for 1 US dollar when I made a foreign payment with my card on the 25th of August 2016. The rates tend to vary from time t - Sunday August 28, 2016 22:57:39 - [Read more]

Cash Deposit ATM stole my money

As I must have mentioned many times, I no longer find it fashionable to enter banking halls and stand on the queue just to deposit money as - Tuesday August 23, 2016 12:44:30 - [Read more]

No need to fill Deposit slips at Diamond bank branches

Diamond bank of Nigeria is doing something new and it's something I would say is a green initiative. You no longer need to fill deposit slip - Friday August 12, 2016 8:53:44 - [Read more]

Account debited without getting credit for bills paid

I recently tried to pay for electricity bills in Nigeria using my mobile banking app and one thing that happened was that my account was deb - Tuesday July 26, 2016 16:19:10 - [Read more]

What do Nigerian Banks do with Dead People's Money?

There is a growing amount of money being abandoned in savings and current accounts in Nigeria and one of the main reasons why they are aband - Saturday June 11, 2016 21:11:49 - [Read more]

Union Bank Airtime Topup Service: How does it work?

I'm not sure if this is official but I think Union bank has an airtime TopUp service that allows bank account owners to buy airtime directly - Saturday June 4, 2016 13:22:28 - [Read more]

Benefits of shopping on foreign websites with a US dollar debit card

One of the ways I prefer making payments when shopping on foreign websites that are US dollar based is by making use of a US dollar debit ca - Monday May 9, 2016 12:6:50 - [Read more]

How I do banking on Saturdays and Sundays in Nigeria

One of the things that many Nigerians now have access to is doing their banking even after the banks have officially closed. I'm happy that - Saturday May 7, 2016 10:4:35 - [Read more]

How to transfer money using Access bank online banking service

If you have an Access bank account and have subscribed to their internet/online banking service, you can easily transfer money from your acc - Wednesday February 17, 2016 17:52:57 - [Read more]

ATM Problem: Card, No Usable App

I recently tried to use my Naira debit Mastercard to withdraw money from an ATM and I got an error saying, Card, No Usable App. I don't re - Monday February 8, 2016 9:0:42 - [Read more]

Nigerian banks introduce Current Account maintenance fee

If you have a current account in Nigeria, one of the things that can increase the costs of running it is the newly introduced Current Accoun - Sunday January 31, 2016 23:7:4 - [Read more]

CBN introduces N50 stamp duty for current account deposits

According to a notification I received from my bank, the Central bank of Nigeria has ordered all banks in to start charging a fixed charge o - Sunday January 31, 2016 22:9:33 - [Read more]

CBN lifts restriction on foreign currency cash deposits

Nigerian bank customers can now deposit money directly to their domiciliary accounts after several weeks during which they were not allowed - Wednesday January 13, 2016 9:50:34 - [Read more]

Unavailability of Prepaid Dollar cards in Nigeria

As a result of the fact that the Central Bank of Nigeria stopped the use of Naira cards for making foreign currency based payments, I could - Tuesday January 12, 2016 14:46:12 - [Read more]

What is a Prepaid card?

There are different types of card products being offered by banks in Nigeria and given the way I was attended to at some banks, I have to sa - Tuesday January 12, 2016 16:15:23 - [Read more]

Travelling abroad? Better to save your money in foreign currency

If you intend leaving Nigeria for a foreign country, it's always good to have a foreign currency/Domiciliary account and it can be in any major trusted currency such as the US dollar, British Pounds or EuroThursday January 7, 2016 at 10:41:57 - [Read more]

Naira cards no longer work for foreign transactions

There seems to be a ban placed by Nigeria's banking industry on the use of Naira cards for foreign transactions. Irrespective of whether the - Monday January 4, 2016 11:11:54 - [Read more]

Naira may fall beyond N300 in 2016

Given the rate at which the Nigerian Naira has depreciated since after the 2015 elections to as low as N270 in the black market, predictions - Tuesday December 22, 2015 14:37:15 - [Read more]

Payment declined: When your Nigerian bank doesn't agree with Amazon's currency c

I have a Naira Mastercard which I use for shopping on Amazon USA and I get my packages delivered to my by DHL using a US shipping company. R - Tuesday December 22, 2015 10:15:33 - [Read more]

December 2015: Top 10 Nigerian banks with the highest interest rate on Fixed dep

According to a publication v recently made by the CBN on for December 5 2015, here are top 10 Nigerian banks with the highest interest rate - Wednesday December 9, 2015 21:43:6 - [Read more]

When last did you meet with a human being at your bank?

I can't remember when last I went to my bank to meet a human being. Ok, I guess it's today and I only spent less than 2 minutes because I wa - Tuesday December 8, 2015 15:37:17 - [Read more]

6 Ways to link your BVN to your bank account in Nigeria

I believe every bank account holder in Nigeria now knows what a BVN is and the importance of having one. If you don't have a BVN yet, your b - Wednesday October 28, 2015 14:45:56 - [Read more]

It is possible to open a bank account in Nigeria without an ID card

Although I've written a bit about this before, I thought it would be wise to write a bit more about it again because it seems some people di - Saturday September 19, 2015 16:36:29 - [Read more]

When an ATM wrongly debited my account

What do you do when an ATM wrongly debits your account without paying you cash? Well, I think I've had the experience on many occasions and - Monday September 7, 2015 14:38:52 - [Read more]

Fidelity bank Save 4 Shelter Savings Promo

Fidelity bank of Nigeria has a promo they are currently doing to encourage Nigerians to save their money as it allows people who save money - Wednesday August 26, 2015 12:18:44 - [Read more]

Nigerians in Diaspora can now get their BVN

If you are a Nigerian with bank account in Nigeria, you no longer need to travel all the way back to Nigeria just to get your Bank Verificat - Wednesday August 26, 2015 11:47:4 - [Read more]

Nigerian banks now reject foreign currency cash deposits

It's really surprising to hear that banks would be rejecting cash deposits into their vaults when this is one of the reason why they setup t - Saturday August 22, 2015 8:45:19 - [Read more]

After July 2015: Naira starts getting stronger against the US dollar

The Nigerian Naira has gradually started growing stronger against the US dollar to the extent that even Nigerian banks have started rejectin - Tuesday August 4, 2015 10:15:56 - [Read more]

OTP vs Token

When it comes to doing online banking in Nigeria, apart from having funds and internet banking service, a bank customer also needs to at lea - Monday August 3, 2015 12:18:47 - [Read more]

Access Bank Express banking

One of the reasons why I love Access bank is that they tend to always make life easier for bank customers. Nowadays, you don't have to alway - Saturday July 25, 2015 14:19:11 - [Read more]

CBN report on Average deposit rates of Nigerian banks as at June 2015

This is a brief report on the average deposit rates I got from a CBN publication as at July 2015.It is basically a breakdown of the average - Thursday July 23, 2015 8:26:55 - [Read more]

How to activate and use your Verve card for online transactions

If you just got a Verve card from your bank, you can use it on ATMs, POS machines as well as on the internet for making online transactions. - Tuesday July 21, 2015 10:49:9 - [Read more]

My BVN Card

I was one of the first people to register for the Bank Verification Number (BVN) at my bank and so when I went to my bank a few months later - Tuesday June 9, 2015 14:7:53 - [Read more]


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