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 trillion in October,…
Category: Banking
CBN Revises Cash Withdrawal Limits: What Nigerians Must Know About January 2026 Changes
The Central Bank of Nigeria (CBN) has announced major revisions to its cash withdrawal policies, set to take effect from…
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 of…
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 sectors…
FCMB Named Nigeria’s Best SME-Focused Bank 2025, Leading N1.8 Trillion SME Disbursements
First City Monument Bank (FCMB) has been recognised as Nigeria’s Best SME-Focused Bank for 2025 by the Chartered Institute of…
Naira Strengthens to 1,446/$ as Foreign Capital Inflows Hit $20.98bn
The Nigerian naira recorded a notable uptick last week, appreciating to 1,446.74 per dollar, a 0.69% increase from the previous…
CBN Orders Banks to Withdraw Non-Compliant Advertisements: Ensures Consumer Protection
The Central Bank of Nigeria (CBN) has issued a stern directive to Deposit Money Banks (DMBs), Payment Service Banks (PSBs),…
Private Sector Credit Surges N1.88 Trillion After September Rate Cut
Credit to Nigeria’s private sector rose sharply in October 2025, climbing to N74.41 trillion from N72.53 trillion in September, according…
CBN Confirms 16 Banks Have Met Recapitalisation Target as March 2026 Deadline Nears
The Central Bank of Nigeria (CBN) has confirmed that 16 Nigerian banks have now met the recapitalisation threshold, marking a…
Afreximbank 9M’25 Financial Scorecard Highlights Strong Liquidity and Resilient Growth
African Export-Import Bank (Afreximbank) and its subsidiaries have released a robust financial performance report for the nine months ended September…
CBN Reforms Stabilise Naira and Lower Lending Rates Amid Inflation Moderation
The Central Bank of Nigeria (CBN) has reported that its ongoing monetary policy tightening and structural reforms are beginning to…
CBN Warns Public: Zuldal Microfinance Bank Not Licensed to Operate in Nigeria
The Central Bank of Nigeria (CBN) has issued a stern warning to the public over an entity claiming to operate…
FCMB Appoints Oluyinka Johnson as Non-Executive Director to Strengthen Board Diversity and Governance
First City Monument Bank (FCMB) has officially announced the appointment of Ms. Oluyinka Johnson as a Non-Executive Director, following approval…
NDIC Advises Nigerians to Maintain Alternate Bank Accounts for Faster Refunds
The Nigeria Deposit Insurance Corporation (NDIC) has urged bank customers to maintain alternate accounts in different financial institutions to ensure…
The Alternative Bank Wins “Innovative Bank of the Year” Award at African Islamic Finance Conference
The Alternative Bank has clinched the coveted title of Innovative Bank of the Year at the 7th African International Conference…
NDIC Urges Bank Customers to Open Alternative Accounts for Faster Fund Access
The Nigeria Deposit Insurance Corporation (NDIC) has urged bank customers nationwide to open and maintain alternative accounts in other financial…
Summit Bank Unveils Ethical Banking Vision to Promote Inclusive Financial Growth in Nigeria
Nigeria’s newest non-interest financial institution, Summit Bank Ltd, has reaffirmed its commitment to delivering ethical and inclusive banking services across…
Nigerian Banks Earn Record N14.7tn Interest Income in Nine Months Amid High-Rate Economy
Nine of Nigeria’s biggest banks collectively earned a staggering ₦14.7 trillion in interest income between January and September 2025, according…
Nigeria’s Top Banks Earn N4.8 Trillion from Fixed-Income Investments in 9 Months
Nigeria’s biggest lenders — First HoldCo, UBA, GTCO, Access Corporation, and Zenith Bank, collectively known as FUGAZ — have raked…
CBN’s Fixed Income Reform Sparks Regulatory Tension as Banks Rake In ₦4.8 Trillion from Securities
The Central Bank of Nigeria’s (CBN) plan to assume control over the nation’s fixed-income market has ignited regulatory tension within…
Top Nigerian Banks Post N4.1 Trillion Profit in Nine Months Despite Mixed Earnings — Five Lenders Lead with 37% Growth
Nigeria’s banking industry has once again showcased its resilience, as nine leading financial institutions collectively posted N4.115 trillion in profit…
Banks Deposit ₦3 Trillion with CBN Amid Cash Crunch as Liquidity Tightens Across Nigeria’s Financial System
Nigerian banks have increased the amount of money held with the Central Bank of Nigeria (CBN), raising total deposits at…
Standard Chartered deepens commitment to Nigeria; Confirms compliance with the CBN’s N200 Billion minimum capital requirement
Standard Chartered Bank Nigeria Limited has successfully met the Central Bank of Nigeria’s (CBN) N200 billion minimum capital requirement for…
Seven Nigerian Banks Pay ₦674.68bn in Taxes in H1 2025 Amid Rising Earnings
Seven of Nigeria’s leading banks remitted a total of ₦674.68 billion in taxes to the federal government in the first…
Reps Launch Probe into Multiple Bank Charges, Excessive Tax Deductions on Workers’ Incomes
The House of Representatives has set up an ad-hoc committee to investigate widespread complaints over excessive tax deductions and multiple…
BVI Court Orders Ex-Seplat Chairman Orjiako to Pay $220 Million in Landmark Debt Enforcement Ruling
In a landmark decision that has sent ripples across international financial and legal communities, the British Virgin Islands (BVI) Commercial…
Ghana’s Banking Sector Profit Surges 46% in 2025, Signaling Strong Economic Recovery
Ghana’s banking sector has recorded an impressive performance in 2025, with profit-after-tax soaring by 46.1% to GH¢9.7 billion in the…
FCMB’s ₦160bn Offer to Bolster Capital Base, Strengthen Resilience – CEO Ladi Balogun
First City Monument Bank (FCMB) Group has reaffirmed its commitment to building a more resilient financial institution through its ongoing…
Abbey Mortgage Bank Reports N1.45bn Profit in Nine Months, Earnings Surge 56% YoY
Abbey Mortgage Bank Plc has announced a robust profit after tax of N1.45 billion for the nine months ending September…
CBN’s 24–48 Hour ATM Refund Rule Gets Strong Backing from Customers’ Group
The Bank Customers Association of Nigeria (BCAN) has voiced strong support for the Central Bank of Nigeria’s (CBN) proposed guidelines…