Nigeria’s Prime Lending Rate Hits 18.88% Amid 27% Monetary Policy Rate: Banks Adjust to Economic Signals
Nigeria’s average prime lending rate increased to 18.88% in August 2025, up from 18.54% in July, reflecting banks’ response to…
Category: Banking
FCCPC Applauds CBN’s New ATM Refund Guidelines: Banks Must Return Failed Transaction Funds Within 48 Hours
The Federal Competition and Consumer Protection Commission (FCCPC) has praised the Central Bank of Nigeria (CBN) for unveiling draft guidelines…
CSW 2025: FCMB recommits to innovation, personalised service
First City Monument Bank says it is marking the 2025 Customer Service Week with a renewed focus on turning everyday…
FirstBank Pledges to Bridge Financing Gaps and Drive SME Growth with Digital Solutions
FirstBank Group has reaffirmed its commitment to bridging financial gaps and leveraging digital solutions to tackle business challenges in Nigeria,…
CBN Introduces New Agent Banking Guidelines to Boost Financial Inclusion and Service Efficiency in Nigeria
The Central Bank of Nigeria (CBN) has unveiled fresh operational guidelines for agent banking, set to take effect on April…
UBA Celebrates 2025 Customer Service Week with Focus on Innovation and Customer Empowerment
The United Bank for Africa (UBA) Plc has kicked off its 2025 Customer Service Week, joining organizations worldwide to celebrate…
CBN Bars Loan Defaulters and Blacklisted BVNs from Operating PoS Terminals in Nigeria
The Central Bank of Nigeria (CBN) has introduced stringent new rules that disqualify individuals with bad debts, blacklisted Bank Verification…
CBN Imposes N5 Million Fine on Illegal Agent Banking Activities, Strengthens Oversight Rules
The Central Bank of Nigeria (CBN) has stepped up enforcement against illegal agent banking activities, introducing hefty fines for breaches…
CBN Rate Cut to 27% Puts Pressure on Nigerian Banks’ Profits, Says Moody’s
Global ratings agency Moody’s Investors Service has warned that Nigerian banks could face shrinking profits following the Central Bank of…
Haruna Musa on Transforming Jaiz Bank: Driving Innovation, Integrity and the Future of Non-Interest Banking in Nigeria
Nigeria’s fast-changing financial sector is under pressure to innovate and rebuild public trust, and Jaiz Bank has emerged as a…
CBN Mandates Early CEO Approvals for Systemically Important Banks to Strengthen Governance and Stability
The Central Bank of Nigeria (CBN) has introduced a landmark directive aimed at fortifying governance and stability in the country’s…
Nigerian Banks Park Surplus Cash at CBN Lending Window as Interbank Market Stalls
Nigeria’s banking sector is swimming in cash, but instead of driving up lending between institutions, banks are choosing to park…
Nigerian Banks Urged to Boost Cybersecurity Amid Surge in Fraud Losses
Cybersecurity experts are warning that Nigerian banks must urgently increase investments in digital defenses as cybercrime continues to cost the…
CBN Orders Banks to Secure MD/CEO Successor Approval Six Months Ahead to Strengthen Governance
The Central Bank of Nigeria (CBN) has issued a new directive compelling Domestic Systemically Important Banks (DSIBs) to secure regulatory…
Nigerian Banks Hold Record Excess Cash as System Liquidity Climbs to ₦2.1 Trillion
Nigerian banks are awash with cash as system liquidity hit a record ₦2.1 trillion last week, reflecting reduced intervention by…
Wema Bank Secures CBN, SEC Approval for N150bn Rights Issue, Surpasses N200bn Capital Requirement
Wema Bank Plc has received regulatory approval from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission…
Ghana Banks Introduce 5% Forex Withdrawal Fee Under New BoG Guidelines
Ghanaian commercial banks have begun applying a 5% fee on foreign exchange withdrawals, following the latest directives from the Bank…
Senate Urges CBN to Extend Loan Forbearance Deadline to Protect Investors
The Senate has called on the Central Bank of Nigeria (CBN) to extend the deadline for banks to end loan…
Nigeria’s Banks Face Pressure as N3 Trillion Liquidity Surge Tests CBN’s Inflation Fight
Nigeria’s banking sector is swimming in cash, but analysts warn that the flood of liquidity may do more harm than…
Fintech Drives Financial Inclusion in Nigeria: Experts Highlight Banking and Insurance Growth Opportunities
Nigeria’s journey to broaden financial inclusion has received a significant boost from fintech, with experts highlighting its potential to bring…
CBN’s $2 Billion FX Forwards Audit: Winners, Losers, and the Future of Nigeria’s Forex Market
The Central Bank of Nigeria (CBN) has concluded a forensic audit into disputed foreign exchange (FX) forward contracts, uncovering irregularities…
Union Bank completes merger with Titan Trust Bank
Union Bank of Nigeria has announced the successful completion of its merger with Titan Trust Bank Limited, following final approval…
Nigerian Bank Customers Decry Failed USSD Transactions, Hidden Charges, and Demand CBN Intervention
Bank customers across Nigeria are raising concerns over rising cases of failed transactions and unexplained charges on electronic banking channels,…
Nigerian Banks Face Capital Discipline Tests as CBN’s Forbearance Window Ends in 2025
Nigeria’s banking sector is approaching a critical juncture as the Central Bank of Nigeria (CBN) prepares to end its regulatory…
BREAKING: Access Holdings appoints Innocent Ike as new GMD/CEO as Aig-Imoukhuede consolidates control
Access Holdings Plc has confirmed the appointment of Mr. Innocent Ike as its substantive Group Managing Director and Chief Executive…
CBN Sets October 31 Deadline for Banks to Upgrade to ISO 20022 and Geo-Tag Payment Terminals
The Central Bank of Nigeria (CBN) has directed all financial institutions and payment service providers to complete the migration to…
FCMB Group Plans Equity Capital Raise to Fund Regional and International Expansion
FCMB Group Plc has announced plans to raise equity capital as part of its strategy to strengthen its capital base…
CBN Introduces Bank Customers’ Bill of Rights to Strengthen Consumer Protection and Financial Inclusion
The Central Bank of Nigeria (CBN) has launched the Bank Customers’ Bill of Rights to protect consumers and promote fair…
FCMB Group Reports N79.3bn Half-Year Profit in 2025, Driven by Strong Digital Growth and Higher Interest Income
FCMB Group Plc has reported a profit before tax of N79.3 billion for the first half of 2025, marking a 23% year-on-year increase,…
Banks’ Deposits with CBN Surge 783% to ₦79.8 Trillion Amid Excess Liquidity and Tight Interbank Market
Banks’ deposits with the Central Bank of Nigeria (CBN) soared by 783.7% year-on-year to ₦79.8 trillion in the first seven…