Major Nigerian banks including Access, UBA, and Zenith have increased savings account interest rates to 7-8% annually following Central Bank monetary policy adjustments. However, inflation at 15.06% continues to erode real returns for households despite n
The Bank Verification Number (BVN) has evolved from a banking security tool into Nigeria's foundational Digital Public Infrastructure, enabling loan recovery, reducing fraud, and creating a trusted identity layer for financial inclusion.
Nigeria's Zenith Bank Plc plans a London Stock Exchange listing by 2027 to access foreign capital, expand operations in the UK and West Africa, and strengthen its international presence amid Nigeria's banking recapitalization drive.
Nova Bank Limited has appointed Jude Anele as its Managing Director and CEO, approved by the Central Bank of Nigeria. This move follows the bank's transition to commercial banking and recapitalisation success.
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Zenith Bank partners with Visa to introduce the Visa Signature Card, offering lifestyle and travel benefits for affluent customers globally and locally, with discounts, airport lounge access, and enhanced security features.
The Chartered Institute of Bankers of Nigeria inducted 2,020 professionals, emphasizing the need to adopt artificial intelligence to drive innovation and strengthen the financial system amid challenges like high costs and skill gaps.
Ethnic Youth Leaders across Nigeria have defended the Dangote Petrochemical Refinery's recent fuel price increase, attributing it to global market pressures including Middle East conflicts and China's export restrictions.
President Bola Tinubu will swear in Taiwo Oyedele as Minister of State for Finance at the Presidential Villa in Abuja, following his nomination to replace Doris Uzoka-Anite, who has been reassigned.
Sycamore Integrated Solutions Limited enters Nigeria's capital market with a N20 billion Commercial Paper Programme, securing a BBB+ rating from DataPro. The issuance offers yields up to 25% amid rapid growth in short-term debt markets.
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Odu'a Investment Company Limited has completed the acquisition of a 10% minority equity stake in FCMB Pensions Limited, following approvals from PenCom and CBN. This move strengthens Nigeria's pension industry and aligns with long-term economic goals.
At its 2026 International Women's Day event, FirstBank Women Network emphasized value creation, collaboration, and mentorship as key to women's leadership in the corporate sector, with speakers highlighting 'structured sisterhood' and the 'Give to Gain' p
Nigerian banks are encouraged to invest in aircraft ownership to boost the economy, reduce foreign exchange outflows, and strengthen domestic financial systems through structured aviation assets.
Whitecrust Investment has announced strategic executive appointments, promoting Ruth Olabode to Business Development Manager and appointing Ademola Ajibade as Chief Financial Officer to drive digital transformation and retail financial services expansion.
FMDQ Exchange has approved the listing of N9 billion Medium-Term Notes by DLM SPV PLC, marking a milestone in Nigeria's corporate bond market with AAA ratings and premium pricing.
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Former lawmaker Oghene Egoh calls on the Federal Government to retain the pipeline surveillance contract with indigenous firms, citing improved security and increased oil production.
Senior financial leaders gathered in London for the Africa Capital Forum, discussing Nigeria's economic reforms, capital mobilization, and banking sector transformation to unlock trillion-dollar potential.
Commercial banks across Nigeria will shut their branches on Thursday and Friday as the federal government declares public holidays for Eid al-Fitr celebrations. Customers are advised to use digital banking channels.
Nigerian banks deposited approximately N30.64 trillion with the Central Bank of Nigeria in five days, reflecting cautious lending practices amid economic uncertainties. Analysts anticipate improved liquidity as maturities and inflows enter the system.
The Nigerian Naira experienced slight fluctuations against the US dollar while maintaining overall stability across official and parallel markets, with analysts pointing to high interest rates and foreign portfolio inflows as supporting factors.
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Nigerian banks and Visa have restored cross-border spending capabilities on Naira cards, simplifying international payments for travel, education, and subscriptions while maintaining robust security measures.
The Nigeria Labour Congress demands cost-of-living allowances and refinery rehabilitation as petrol prices surge to N1,300 per litre due to Middle East conflict impacts.
The Central Bank of Nigeria reports the premium between official and parallel dollar rates fell from 50% in 2022 to under 2% in 2025, boosting liquidity and investor confidence.
The Central Bank of Nigeria has issued new guidelines requiring commercial banks to increase ATM deployment ratios and process instant reversals for failed transactions to enhance customer access and satisfaction.
The Central Bank of Nigeria introduces new security measures restricting mobile banking apps to one device at a time, with multi-factor authentication for instant payments and enhanced fraud monitoring starting July 2026.
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The Central Bank of Nigeria has simplified dormant account reactivation by removing affidavit requirements and allowing digital channels, while maintaining fraud safeguards.
The Central Bank of Nigeria has issued a directive establishing 18 years as the minimum age for Bank Verification Number registration to strengthen identity verification and combat financial fraud in the banking system.
The Central Bank of Nigeria mandates banks to monitor BVNs tied to suspected fraud, with a 24-hour watchlist, phone number change restrictions, and age limits for enrollment.
The Central Bank of Nigeria has introduced a N20,000 transaction limit for newly activated mobile banking apps within the first 24 hours. This is part of comprehensive security measures to combat digital fraud.
The Nigerian Naira strengthened against the US dollar, closing at ₦1,366.23 per dollar in the official foreign exchange market on Friday, March 13, 2026. This represents a 0.3% gain from the previous day, supported by improved forex supply and ongoing pol
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The Central Bank of Nigeria has introduced a new rule limiting phone number changes for Bank Verification Numbers to once in a lifetime, effective May 1, 2026, to enhance security in the banking system.
