CBN Pegs New Deposit Limit For Account Holders

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The Central Bank of Nigeria (CBN) yesterday set new deposit limits for all categories of account holders and introduced three-tier Know Your Customer (KYC) requirements for banks. With the new policy, bank customers have now been categorised into Low Value Accounts (Level One); Medium Value Accounts (Level two) and High Value Accounts (Level three). 
For Low Value Account holders, the policy pegs a maximum single deposit amount of N20,000 and maximum cumulative balance of N200,000 at any point in time.  For Medium Value Account holders, a maximum single deposit of N50,000 and a maximum cumulative balance of N400,000. However for the High Value Account, no limit is placed on cumulative balance.

Police disqualify SSCE, Third Class holders from recruitment

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Police Service Commission says holders of Secondary School Certificate would no longer be accepted into the Nigeria Police Force as constables. It said the minimum entry requirement now was Ordinary National Diploma. The commission also stated that Third Class degree holders were no longer accepted as Cadet Inspectors, in line with the reform in the force. PSC Commissioner and Chairman, Public Affairs Committee of the commission, Ms. Comfort Obi, who stated this at a news conference in Abuja on Monday, explained that the commission had reviewed the recruitment process into the police.