Tag: Banks

Technology Downtime Disrupts Flights, Banks, Others Globally

Abibat Babalola

Multiple companies across the globe including banks and media outlets on Friday reported downtime in their activities in what appears to be a global technology shutdown. The incident, which has exposed the dependence on software from a handful of providers, has also seen flights affected across the globe, according to a report by AFP The issue affected Microsoft 365 apps and services. The company posted on X that it was “working on rerouting the impacted traffic to alternate systems to alleviate impact in a more expedient fashion” and that they…

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Banks, IMTOs To pay Dollars, Other Diaspora Remittances In Naira

Abibat Babalola

International Money Transfer Operators and banks in the country have halted the payment of dollars to their customers. Some banks on Friday informed their customers that they would no longer be able to receive dollars from family and friends in the diaspora. This followed the issuance of revised guidelines for International Money Transfer Operators by the Central Bank of Nigeria on January 31. Ecobank Nigeria, one of the banks that have started to comply with CBN directive, in a notice to customers on its international money transfer operations, said, “We…

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