CBN Orders Banks to Comply With Swift Payment<\/p>\n

The central bank of Nigeria has ordered banks to comply with the swift universal payment confirmation.<\/p>\n

It stated this in a circular titled \u2018compliance with the swift universal payment confirmation\u2019 signed by the director, banking services department, Sam Okojere, to all banks which was released on Friday.<\/p>\n

Part of the circular read, \u201call banks operating in Nigeria are by this circular reminded of the need to ensure full compliance with swift universal confirmation requirements.<\/p>\n

Watch Our YouTube Videos<\/a>:<\/h4>\n

A swift code is a code used to identify the country, bank and branch that an account is registered to.<\/p>\n

The CBN said the confirmation should get to swift within two business days on whether the beneficiary\u2019s account has been credited, payment is rejected or pending.<\/p>\n

It added that all financial institutions within the ecosystem would be measured on whether they confirmed 80 per cent on their weekly payments.<\/p>\n

Incase You Missed:<\/h5>\n

CBN to Disburse Nigerian Youth Investment Fund<\/a><\/p>\n

CBN Halts Forex To Maize Import<\/a><\/p>\n

Bank of Transportation will Reduce Crime Rate\u2013 RTEAN<\/a><\/p>\n

Johesu Issues Seven-Days Warning Strike Over Outstanding Demands<\/a><\/p>\n

ADESINA PLEDGES QUALITY DELIVERABLES TO AFRICA<\/a><\/p>\n

DATES AND IT\u2019S HEALTH BENEFITS-<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

CBN Orders Banks to Comply With Swift Payment The central bank of Nigeria has ordered banks to comply with the swift universal payment confirmation. It stated this in a circular titled \u2018compliance with the swift universal payment confirmation\u2019 signed by the director, banking services department, Sam Okojere, to all banks which was released on Friday. […]<\/p>\n","protected":false},"author":27,"featured_media":9631,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[17],"tags":[20168,227],"class_list":["post-9630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-beneficiarys-account","tag-cbn"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/news.ncbn.ng\/wp-content\/uploads\/2020\/10\/CBN-ORDERS-BANK.jpg?fit=600%2C346&ssl=1","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/news.ncbn.ng\/wp-json\/wp\/v2\/posts\/9630"}],"collection":[{"href":"https:\/\/news.ncbn.ng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.ncbn.ng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.ncbn.ng\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/news.ncbn.ng\/wp-json\/wp\/v2\/comments?post=9630"}],"version-history":[{"count":2,"href":"https:\/\/news.ncbn.ng\/wp-json\/wp\/v2\/posts\/9630\/revisions"}],"predecessor-version":[{"id":9634,"href":"https:\/\/news.ncbn.ng\/wp-json\/wp\/v2\/posts\/9630\/revisions\/9634"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.ncbn.ng\/wp-json\/wp\/v2\/media\/9631"}],"wp:attachment":[{"href":"https:\/\/news.ncbn.ng\/wp-json\/wp\/v2\/media?parent=9630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.ncbn.ng\/wp-json\/wp\/v2\/categories?post=9630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.ncbn.ng\/wp-json\/wp\/v2\/tags?post=9630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}