Fraud Losses Hit N134.48bn in Nigeria as CBN Flags Surge in Digital Banking Scams (2020–2025)
Banks and their customers in Nigeria lost a staggering N134.48bn to fraud between 2020 and 2025, according to new data…
Category: Banking
Femi Otedola Raises First HoldCo Stake to 20% with N29.6bn Share Purchase
Billionaire businessman and Chairman of First HoldCo, Femi Otedola, has deepened his investment in the financial services group after acquiring…
CBN HoldCo Rules: How a Chapel Hill White Paper May Have Inspired Nigeria’s Banking Shake-Up
The Central Bank of Nigeria’s proposed Financial Holding Company (HoldCo) regulations have triggered intense debate across the banking industry, but…
CBN HoldCo Reforms May Force ₦370bn Capital Raise Across Nigeria’s Top Banks
Nigeria’s leading banking groups may soon be compelled to raise about ₦370 billion in fresh capital following proposed new rules…
United Capital Acquires 5% Stake in NGX Group, Signals Strong Confidence in Nigeria’s Capital Market
United Capital Group has strengthened its foothold in Nigeria’s financial sector after acquiring a 5 percent equity stake in the…
Nigeria’s Banking Profit Boom Fades as Earnings Drop, While African Rivals Surge Ahead
Nigeria’s banking sector, once celebrated as one of Africa’s strongest profit engines, is entering a new phase marked by slowing…
FX Reforms Boost Global Naira Card Usage as Banks Raise Dollar Limits
Improved foreign exchange liquidity in Nigeria, driven by sweeping economic reforms, is reshaping how Nigerians use their naira cards for…
IMF Flags Lending Rate Imbalance as Nigerian Banks React Faster to Rate Hikes Than Cuts
The International Monetary Fund (IMF) has raised concerns over the way Nigerian banks respond to changes in monetary policy, noting…
Nigeria’s Top Banks Mobilise N137 Trillion in Deposits as Liquidity Strength Deepens (Q1 2026 Banking Report)
Nigeria’s banking sector started 2026 on a strong liquidity footing, with the country’s top 10 banks collectively mobilising an estimated…
United Capital Expands into East Africa with Investment Banking Licences in Ethiopia and Rwanda
United Capital has recorded a major breakthrough in its African expansion strategy after securing investment banking licences in both Ethiopia…
Reps Recover ₦521.7m VAT from CBN in Remita Revenue Leak Probe
The House of Representatives Public Accounts Committee has recovered ₦521.77 million in unremitted Value Added Tax (VAT) from the Central…
CBN Mops Up N3.04 Trillion in Massive OMO Auction as Investor Demand Hits Record High
The Central Bank of Nigeria withdrew N3.04 trillion from the banking system in a single OMO auction after investors subscribed…
Nigerian Banks Earn N209bn from Account Maintenance Fees in Q1 2026 Amid Rising Transaction Growth
Nigerian commercial banks recorded a significant rise in earnings from account maintenance charges, pulling in a combined N209.18bn in the…
Nigeria’s Banks Face Rising Bad Loans as CBN Ends Regulatory Forbearance, NPL Ratio Hits 8.03%
Nigeria’s banking sector is under fresh pressure as bad loans climbed to 8.03 per cent in January 2026, following the…
CBN Extends Breathing Space for Banks as Legal Bottlenecks Slow Recapitalisation Drive
he Central Bank of Nigeria (Central Bank of Nigeria) has assured that deposit money banks yet to fully meet the…
CBN Retains Interest Rate at 26.5% as External Shocks Drive Inflation Pressure in Nigeria
The Central Bank of Nigeria (CBN) has maintained its benchmark interest rate at 26.5 percent, following its latest Monetary Policy…
Banks Flood Treasury Bills Market as High Yields Attract Surplus Liquidity in Nigeria
Nigeria’s banking sector is once again turning to government securities as a safe haven, with commercial banks increasingly channeling excess…
N4.65 Trillion Bank Recapitalisation: Nigerian Banks Face Pressure to Turn Capital Into Real Growth
After successfully raising a combined N4.65 trillion to meet the Central Bank of Nigeria’s (CBN) recapitalisation requirements, Nigerian banks are…
CBN, CIBN Push for Stronger Female Leadership in Banking as Lagos Hosts Maiden AWBFA Conference
The conversation around female banking leadership in Africa took center stage in Lagos as the African Women in Banking and…
CBN rules give foreign banks, fintechs advantage over Nigerian lenders – Chapel Hill report
Nigeria’s banking sector is facing renewed scrutiny after a new report by investment banking and research firm Chapel Hill Denham…
63% of Nigerians Demand Lower Interest Rates Ahead of CBN MPC Meeting
As the Central Bank of Nigeria prepares for its crucial Monetary Policy Committee meeting on May 19 and 20, a…
Tier-1 Nigerian Banks Surge to N114 Trillion Deposits as Lending Slows Amid Tight Monetary Policy
Nigeria’s biggest banks ended 2025 with a powerful surge in customer deposits, even as lending activity slowed under tight monetary…
FX Inflows Hit $112.27bn as Autonomous Dollar Sources Dominate Nigeria’s FX Market in 2025
Nigeria’s foreign exchange market underwent a major structural shift in 2025, as total FX inflows climbed to $112.27 billion, with…
Tier-One Nigerian Banks’ Assets Hit N161.4 Trillion Amid Strong Earnings Growth (FUGAZ Banks 2025 Report)
Nigeria’s five biggest lenders—commonly known as FUGAZ—ended 2025 on a stronger footing, with combined total assets climbing to N161.4 trillion.…
CBN Dormant Accounts Directive: Four Banks Publish Over 321,000 Inactive Accounts
Four Nigerian banks have published details of more than 321,000 dormant accounts in compliance with a directive from the Central…
CBN Raises Governance Alarm Over Non-Interest Banks Amid Rising Islamic Finance Growth in Nigeria
The Central Bank of Nigeria (CBN) has issued a fresh warning to non-interest financial institutions over growing governance and compliance…
Top Nigerian Banks Cut Lending by Nearly 25% as Economic Risks Rise
Nigeria’s banking sector is tightening its grip on lending as economic uncertainty, high interest rates, and stricter regulatory conditions continue…
Tier-One Banks Post N14.9 Trillion Earnings in 2025 as Interest Rate Pressures Shape Profit Outlook
Nigeria’s four major tier-one banks—Access Holdings, Zenith Bank, Guaranty Trust Holding Company (GTCO), and United Bank for Africa (UBA)—recorded a…
Nigerian Banks Earn N18.2tn in 2025 Despite Profit Decline Amid Loan Losses and Recapitalisation Impact
Nigeria’s biggest banks posted a mixed financial performance in 2025, as strong revenue growth and expanding balance sheets were weighed…
AfDB 2026 Annual Meetings to Prioritize Resource Mobilisation for Africa’s Development Financing Gap
The African Development Bank (AfDB) has announced that its 2026 Annual Meetings will focus heavily on how to mobilise more…