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Banking
CBN Imposes N10 Million Fine on Banks Using Unaccredited Cheque Printers
The Central Bank of Nigeria (CBN) has taken a firm stand on cheque security by imposing a N10 million fine on…
World Bank Endorses Nigeria’s Bank Recapitalisation to Boost Private Sector Growth
The World Bank has applauded the Central Bank of Nigeria’s (CBN) ongoing banking sector recapitalisation, calling…
BoI Receives CBN Approval to Launch Non-Interest Banking Window in Nigeria
The Bank of Industry (BoI) has received regulatory approval from the Central Bank of Nigeria (CBN) to operate a…
World Bank Cuts CBN Grant to $6.8m, Approval Set for March
The World Bank has reduced a proposed grant to the Central Bank of Nigeria (CBN) from $10.50m to $6.80m, with board…
BoG and Bank of Rwanda Launch Fintech Passport to Boost Cross-Border Payments in…
The Bank of Ghana (BoG) and the Bank of Rwanda are taking a major step toward enhancing financial integration in…
UBA Appoints Loknath Mishra as CEO of UK Subsidiary to Strengthen Africa-Global…
United Bank for Africa (UBA) has named Loknath Mishra as the new Chief Executive Officer of its United Kingdom…
Jaiz Bank Earnings Surge to N31.04bn on Strong Financing and Investment Growth
Jaiz Bank Plc has reported a significant rise in its earnings, posting a profit of N31.04bn for the 2025 financial…
Government Securities Now Make Up 11% of Nigerian Banks’ Assets — S&P Warns…
Government securities now account for about 11 per cent of Nigerian banks’ total assets, highlighting years of…
Profit Up 29%, Rating Down to Junk: The Afreximbank Paradox
Africa’s largest trade finance institution, Afreximbank, is in the spotlight after Fitch Ratings downgraded the…
CBN Fintech Survey Signals Shift in Regulatory Approach to Nigeria’s Digital…
The Central Bank of Nigeria (CBN) is set to release a landmark fintech survey report on Monday, February 2,…
FCMB Records N177bn Profit in 2025, Driven by Strong Lending and Fee Income
FCMB Group Plc has announced a remarkable profit after tax of N177 billion for the year ended December 31, 2025,…
Fitch Downgrades Afreximbank to High Risk Over Ghana Debt Deal, Ends Rating…
Fitch Ratings has downgraded the African Export-Import Bank (Afreximbank) to a high-risk profile, citing concerns…
Private Sector Credit Rises to N75.8 Trillion in December 2025 as CBN Policies…
Private sector credit in Nigeria climbed to N75.8 trillion in December 2025, up from N74.63 trillion in November,…
LivingTrust Mortgage Bank Reports N1.01bn Profit in 2025, Driven by Strong…
LivingTrust Mortgage Bank Plc has posted a profit after tax of N1.01 billion for the year ended December 31, 2025,…
CBN Urges Nigerian Banks to Act Faster Against Rising Digital Fraud Threats
The Central Bank of Nigeria (CBN) has called on banks and financial institutions to take faster and more…
Microfinance Banks’ Non-Financial Assets Hit Record N358.8 Billion in June 2025
Non-financial assets held by Nigerian microfinance banks have surged to a record N358.787 billion as of June 2025,…
CBN Bank Recapitalisation: How Nigeria’s Lenders Are Becoming Financial…
Nigeria’s banking sector is undergoing a profound reset as the Central Bank of Nigeria (CBN) drives one of the most…
ATM Withdrawals Jump 196% to ₦36.3 Trillion in H1 2025 — CBN Data Shows Surge in…
Automated teller machine (ATM) withdrawals in Nigeria surged sharply in the first half of 2025,…
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…