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Banking
Conference explores role of cash in digital-first economy
The Committee of Heads of Bank Operations (CHBO) in Nigeria is set to host its annual conference on Friday, 23…
NRS Clarifies: No New VAT on Banking Services Under Nigeria Tax Act
The Nigeria Revenue Service (NRS) has dismissed circulating reports suggesting that the new Nigeria Tax Act…
NRS: VAT on bank charges NOT introduced by new tax laws
The Nigeria Revenue Service (NRS) says value-added tax (VAT) on bank services charges was not introduced by the new…
20 Nigerian Banks Meet Recapitalisation Deadline as CBN Pushes for Productive…
About 20 deposit money banks in Nigeria have met the Central Bank of Nigeria’s (CBN) new capital requirements under…
FG Orders Banks, Fintechs to Remit 7.5% VAT on Electronic Banking Service Fees…
The Federal Government has directed all banks and fintech companies operating in Nigeria to begin collecting and…
Nigerian Banking Stocks Set for 2026 Rally Amid Recapitalization and Market…
Nigeria’s banking sector is positioning itself as one of the most compelling equity market opportunities for 2026,…
Three Nigerian Bank Mergers Expected Ahead of CBN Recapitalisation Deadline
At least three bank mergers are expected in Nigeria in early 2026 as lenders race to meet the Central Bank of…
CBN Warns Bank Recapitalisation Could Heighten Market Concentration in Nigeria
The Central Bank of Nigeria (CBN) has raised concerns that the ongoing bank recapitalisation program may…
Nigerian Banks Face Reality as CBN Ends COVID-Era Loan Forbearance
After nearly five years of regulatory leniency, Nigeria’s banking sector is confronting a long-postponed reality:…
CBN and NDIC Challenge Court Jurisdiction in Aso Savings & Union Homes…
The Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) have asked the Federal High…
Mandatory TINs in Nigeria: Tax Reform or Threat to Financial Inclusion?
As Nigeria moves to make Tax Identification Numbers (TINs) mandatory for all bank accounts from January 1, 2026,…
CBN Eases Foreign Card Usage for Tourists and Returning Nigerians
The Central Bank of Nigeria (CBN) has issued a new directive to banks and financial institutions aimed at improving…
FCMB Group Gets Shareholders’ Approval to Raise N400bn Ahead of 2026 CBN…
Shareholders of FCMB Group Plc have approved a major capital raise of up to N400 billion, positioning the bank to…
NDIC and NIBSS Sign MoU to Boost Depositor Payouts in Failed Banks
The Nigeria Deposit Insurance Corporation (NDIC) and the Nigeria Inter-Bank Settlement System Plc (NIBSS) are set…
Banks Strengthen Capital Base as CBN Tightens Oversight Ahead of 2026 Deadline
Nigeria’s Deposit Money Banks are reinforcing their capital positions as the Central Bank of Nigeria intensifies…
FX Windfalls Fade as Nigerian Banks Return Focus to Core Lending
Foreign exchange (FX) gains, once a major source of profits for Nigeria’s top banks, have dropped sharply,…
CBN Revokes Licences of Aso Savings and Union Homes over Regulatory Breaches
The Central Bank of Nigeria (CBN) has officially revoked the operating licences of Aso Savings and Loans Plc and…
Big Banks’ FX Gains Fall to Three-Year Low as Nigeria’s Banking Sector Shifts…
Nigeria’s biggest banks are seeing a sharp slowdown in foreign exchange (FX) gains, once a major source of profits,…
Bright Simons Warns Bank of Ghana’s Non-Interest Banking Rebrand Risks Confusion…
Bright Simons, Vice President of policy think tank IMANI Africa, has raised serious concerns about the Bank of…
CBN Tightens Oversight as Nigerian Banks Boost Capital to Strengthen Financial…
Nigerian banks are stepping up their capital base as the Central Bank of Nigeria (CBN) enforces stricter oversight…
Reps Push Major Reforms to Strengthen Transparency and Oversight at CBN
The House of Representatives has begun formal steps to overhaul the Central Bank of Nigeria (CBN) Act, seeking…
Non-Interest Banking in Ghana: BoG Requires 60% Foreign Currency Capital for…
The Bank of Ghana (BoG) has unveiled a new regulatory framework aimed at tightening oversight of the country’s…
Banks Slash Central Bank Deposits by N2.22 Trillion After CBN Interest Rate…
Banks in Nigeria significantly reduced their deposits at the Central Bank of Nigeria (CBN) last month, pulling back…
Nigerian Banks Shift Focus to New Revenue Streams as FX Gains Dry Up
As foreign exchange gains that boosted Nigerian banks over the past two years begin to fade, financial experts say…
Nigeria’s Foreign Reserves Hit $46.7 Billion — Highest in Nearly Seven Years, Says…
Nigeria’s foreign reserves have climbed to $46.7 billion, marking the highest level in nearly seven years, the…
Nigeria’s Cash Demand Hits N4.65 Trillion as Currency Circulation Surges
Nigeria’s appetite for physical cash has surged once again, with Currency Outside Banks (COB) rising to N4.65…
CBN Revises Cash Withdrawal Limits: What Nigerians Must Know About January 2026…
The Central Bank of Nigeria (CBN) has announced major revisions to its cash withdrawal policies, set to take effect…
FCMB Named Nigeria’s Best SME Bank 2025, Leading SME Financing Across Key Sectors
First City Monument Bank (FCMB) has been named Nigeria’s Best SME Focused Bank for 2025 by the Chartered Institute…
CBN’s MPC Adjusts Policy Corridor to Boost Lending to Productive Sectors
The Central Bank of Nigeria (CBN) has taken a strategic step to encourage banks to redirect funds toward productive…
FCMB Named Nigeria’s Best SME-Focused Bank 2025, Leading N1.8 Trillion SME…
First City Monument Bank (FCMB) has been recognised as Nigeria’s Best SME-Focused Bank for 2025 by the Chartered…