Zenith Bank Acquires Kenyan Lender After Meeting CBN Target
Nigeria's Zenith Bank secures regulatory approval to acquire Paramount Bank in Kenya, marking a strategic expansion into East Africa and diversifying earnings beyond Nigeria.
Category : Banking
FCCPC Deadline for Loan Apps, 100 on Watch List
Nigeria's FCCPC extends compliance deadline to April 2026 for digital lenders, names 100 loan apps on watch list to regularise operations under new regulations.
CBN Alerts on New Banking Fraud Trends Amid Digital Payment Growth
The Central Bank of Nigeria has raised alarm over emerging fraud threats in the banking sector, calling for faster industry responses as digital transactions surge nationwide.
CBN Orders 30-Minute Fraud Response by Nigerian Banks
The Central Bank of Nigeria has directed major financial institutions including Access, Zenith, and UBA to reduce fraud response times to under 30 minutes to combat rising digital threats and enhance customer protection.
PalmPay, OPay Open Graduate Trainee Programmes
PalmPay and OPay MFB announce 2025 Graduate Trainee Programmes offering Nigerian graduates career opportunities in fintech and financial services with structured training.
FairMoney Discloses N150B Loans, N7B Interest in 2025
FairMoney Microfinance Bank reveals it disbursed over N150 billion in loans and paid N7 billion in interest on savings in 2025, leveraging AI and machine learning to serve underserved customers.
GTBank Sets New Rate as Naira Falls Against Dollar
The Nigerian naira weakened in the official forex market on Monday due to high demand and limited supply, while GTBank adjusted its exchange rate for international payments.
Banks Start VAT Deduction on Card Fees and Electronic Charges
Nigerian banks have commenced deducting 7.5% VAT on card maintenance fees and selected electronic banking charges following NRS directive, with deposits and transfers remaining exempt.
7 Nigerian Banks Face Licence Downgrades in CBN Recapitalisation
The Central Bank of Nigeria's recapitalisation drive puts seven banks at risk of licence downgrades as they struggle to meet the new capital requirements by the fast-approaching deadline.
Banks Charge 60% on Loans, Pay 2.7% on Savings
CBN data reveals a massive gap between bank lending and deposit rates. Borrowers in key sectors face crippling costs while savers earn minimal returns. Discover the full breakdown.
Bad Loans Rise in Nigerian Banks Despite Increased Lending
Nigerian banks face rising loan defaults from households and businesses, pushing NPL ratio to 7%. The CBN warns of risks but assures system stability. Read the full analysis.
Bank Customers Unhappy as New VAT Charges Begin
Nigerian bank customers express frustration as commercial banks implement 7.5% VAT on electronic services, adding to existing fees. Calls grow for CBN oversight. Read the full report.
CBN to Offer N1.15 Trillion in Treasury Bills
The Central Bank of Nigeria plans a major Treasury Bills auction this week to manage liquidity. Analysts predict strong investor demand. Read the full analysis.
FCMB Meets CBN Capital Rules Ahead of 2026 Deadline
FCMB Group Plc has successfully met the Central Bank of Nigeria's new capital requirements, securing its national banking licence. Discover which 20 banks are now compliant ahead of the March 2026 deadline.
20 Nigerian Banks Meet CBN's New Capital Rules
The Central Bank of Nigeria confirms 20 commercial banks have successfully met the new recapitalisation requirements. Discover the full list and what it means for Nigeria's trillion-dollar economy goal.
ATM Withdrawals Jump 198% to ₦36.34 Trillion in H1 2025
Nigerians' ATM cash withdrawals surged to ₦36.34 trillion in H1 2025, defying CBN's fee hikes. Public backlash grows as policy hits low-income earners hardest. Discover the data and implications.
ASO Savings & Loans Delisted, Shareholders Lose Investments
NGX delists ASO Savings and Loans Plc following CBN's licence revocation. Shareholders face total loss as regulatory crackdown intensifies. Full details inside.
Nigerian Banks Secure Licences Under New CBN Capital Rules
Discover which Nigerian banks have secured international and national licences under the CBN's new capital requirements. Stay informed on the banking sector's transformation.
Leasing Industry Targets Stronger Growth in 2026
Nigeria's leasing industry, with volumes exceeding N5 trillion, is set for stronger growth in 2026. Driven by economic stability and key reforms, it's a vital financing channel for businesses. Read more.
PalmPay's Purple December 2025: A Nigerian Festive Tradition
PalmPay's Purple December 2025 campaign evolved from simple giveaways into a shared digital experience for Nigerians, fostering community, celebrating savings goals, and embedding itself into the festive timeline. Discover the moments that defined it.
23 Nigerian Banks Successfully Recapitalise Ahead of CBN Deadline
Major Nigerian banks like FirstBank, UBA, and Access Bank have successfully met the CBN's N500bn capital requirement. See how this strengthens Nigeria's financial system and supports economic growth.
23 Banks Meet CBN Capital Target, 3 to Merge
Nigeria's banking sector consolidates as 23 banks meet new CBN capital requirements. Access, Zenith lead. Three banks set to merge ahead of March 2026 deadline. Full details inside.
Providus Bank 2026 Graduate Trainee Programme: Apply Now
Providus Bank has launched its 2026 Graduate Trainee Sales Programme for young Nigerian graduates. Applications are open until January 18, 2026. No prior experience required.
How Tech Banking Drives Nigeria's $1 Trillion GDP Goal
FairMoney MD Henry Obiekea explains why technology-enabled banking is critical for financial inclusion and achieving Nigeria's 2030 economic target. Discover the role of digital finance in national growth.
LAPO MfB Appoints Edward Aghimien to Board
LAPO Microfinance Bank appoints seasoned economist Edward Aghimien as Non-Executive Director. His 40+ years of experience in FMCG and business development will bolster the bank's governance and financial inclusion goals. Read more.
PalmPay & Premier Cool Offer N10,000 Cash Rewards
PalmPay and Premier Cool are giving away N100 million. Learn how 10,000 Nigerians can win N10,000 instantly by using the soap. Campaign runs from Jan 12 to Apr 11, 2026.
CBN Releases 2026 Savings Interest Rates for Nigerian Banks
The Central Bank of Nigeria has published the latest savings account interest rates. Discover which banks offer the highest returns and how the market averages 8% in 2026.
Nigeria Removed from EU Financial High-Risk List
The EU has removed Nigeria from its high-risk money laundering list, boosting trade and investor confidence. This follows Nigeria's exit from the FATF grey list.
Over 20 Nigerian Banks Now Meet CBN Recapitalisation Target
More than 20 Nigerian banks, including Sterling Bank, FirstBank, and UBA, have successfully met the Central Bank's new capital requirements. Discover the impact on sector resilience and the economy.
How Tech Banking Drives Nigeria's $1 Trillion GDP Target
FairMoney MD Henry Obiekea explains why technology-enabled banking is critical for financial inclusion and achieving Nigeria's 2030 economic goals. Discover the role of digital finance.
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