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COMPLIANCE WITH THE CYBERCRIME (PROHIBITION, PREVENTION, ETC.), ACT 2015: COLLECTION AND REMITTANCE OF LEVY FOR THE NATIONAL CYBERSECURITY FUND

March  1,  2018 LETTER  TO  ALL  BANKS COMPLIANCE  WITH  THE  CYBERCRIME  (PROHIBITION,  PREVENTION,  ETC.),  ACT  2015: COLLECTION AND  REMITTANCE  OF LEVY  FOR  THE  NATIONAL  CYBERSECURITY FUND  Pursuant  to  the  provisions  of  Section  44  (S.1and  2)  of  the  Cybercrime  [Prohibition, Prevention,  etc.],  Act  2015,  which  established  the  National  Cyber  Security  Fund  and mandated  the  payment  of  a  levy  of  0.005%  into  the  Fund  Account  in  the  Central  Bank of  Nigeria,  a  National  Cyber  Security  Fund  account  has  been  opened  and  domiciled  in the  Central  Bank  of  Nigeria. Consequently,  all  banks  are  hereby  directed  to  comply  with  the  statutory  provision  for the  collection  and  remittance  of  the  0.005%  levy  on  all  electronic  transactions  by  the businesses  specified  in  the  second  schedule  of  the  Cybercrime  (Prohibition,  Prevention, etc.)  Act,  as  follows: 1. GSM  Providers  and  all  telecommunication  comp
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REAL SECTOR LOANS, Before CBN’s Carrot And Stick

http://www.nigerianbanker.com/2018/05/27/real-sector-loans-before-cbns-carrot-and-stick/
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Will your Expenses stay the same in Retirement?

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https://cnnmon.ie/2KXjp0z
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Nigeria-China currency swap deal

http://punchng.com/41-items-still-banned-under-nigeria-china-currency-swap-deal-cbn-warns/
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Meet the Former Deputy Gov. of Central Bank of Nigeria- Dr. Sarah Alade

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Meet the F ormer Deputy Gov. of Central Bank of Nigeria- Dr. Sarah Alade Sarah Alade  was the acting governor of the  Central Bank of Nigeria  during the suspension of Lamido Sanusi until his tenure ended. She was appointed to the post by President  Goodluck Jonathan  on 20 February 2014.   Sarah Alade  was the acting governor of the  Central Bank of Nigeria  during the suspension of Lamido Sanusi until his tenure ended.   She was appointed to the post by President  Goodluck Jonathan  on 20 February 2014.   Alade was appointed acting governor of the Central Bank of Nigeria from 20 February 2014 until the appointment of  Godwin Emefiele .  Prior to this time, she had served as deputy governor (Economic Policy), Central Bank of Nigeria from 26 March 2007. lade was appointed acting governor of the Central Bank of Nigeria from 20 February 2014 until the appointment of  Godwin Emefiele . Prior to this time, she had served as deputy governor (Economic Policy), Central Bank of Nigeria
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3 Things To Know About Bad Debt

3 Things To Know About Bad Debt The Financial Dictionary defines Bad Debt as “Debt from a credit sale that the creditor is unable to collect. Debt becomes bad debt when the creditor has made all reasonable efforts to collect the debt but has been unable to do so. Often, this occurs when the debtor declares bankruptcy or when pursuing collection attempts further will cost more than the debt itself. A company writes off bad debt as an expense, which reduces its taxable income. However, it also deprives the company of cash flow that is ultimately necessary to keep it in business” For financial institutions bad debts are debts from bank asset (money borrowed to customers) that the customer is unable or unwilling to pay back or fulfill repayment obligations for a particular period of time often over 9 month. It mean collections for up to 9 months remain unpaid or uncollected. Such debt becomes bad debt and it is written off against the banks books. Here Are 3 Things To Know About Bad
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