Ex-Fidelity Bank Worker Shares 2008 Salary Details
A former Fidelity Bank executive trainee who relocated to Germany has disclosed his 2008 annual salary of N1.6 million, sparking discussions about banking sector compensation changes over time.
Category : Banking
Nigeria's Pension Paradox: Big Assets, Poor Payouts
Nigeria's Contributory Pension Scheme faces a crisis as retirees struggle with low monthly payouts despite N22.51 trillion in assets, highlighting inflation's impact and regulatory gaps.
Providus Bank Met CBN Recapitalisation in January 2025
Providus Bank management debunks media reports, confirming it achieved the Central Bank of Nigeria's ₦50 billion recapitalisation threshold in January 2025, with a current capital base of ₦65 billion.
Bank Collusion Alleged in $43.5M Oriental Energy Dividend Case
Fresh allegations of bank collusion have emerged in the $43.5 million dividend dispute between twin sisters and Oriental Energy Resources. Court documents suggest banks may have concealed funds to frustrate enforcement of a court judgment.
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NOVA Bank Names Jude Anele as Managing Director and CEO (19.03.2026)
NOVA Bank Limited has appointed Jude Anele as its Managing Director and CEO, following CBN approval. With over 33 years of banking experience, Anele will lead the bank's growth strategy post-recapitalisation.
Deap Capital Unveils N3bn Plan and Debt Restructuring
Deap Capital Management & Trust Plc has announced a N3 billion strategic investment plan and conversion of N2.03 billion debt to equity to strengthen its financial position and drive sustainable growth.
CBN Requires Automated AML Systems for Banks and Fintechs
The Central Bank of Nigeria has issued new guidelines requiring banks, mobile money operators, and other financial institutions to deploy automated anti-money laundering systems to enhance financial crime detection and compliance.
Firm's AI Platform Meets CBN's AML Automation Rules
Smartcomply, an Africa-focused compliance tech firm, announced its AI-powered Adhere platform aligns with the Central Bank of Nigeria's new baseline standards for automated anti-money laundering solutions, offering financial institutions a faster complian
UBA, NiDCOM Deepen Pact to Unlock Diaspora Capital
United Bank for Africa and the Nigerians in Diaspora Commission reinforce their collaboration to enhance diaspora-driven investments, leveraging UBA's new banking platform for wealth creation and economic growth in Nigeria.
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Banks Raise ₦2.5 Trillion as Recapitalisation Nears Deadline
Nigeria's banking sector has raised nearly ₦2.5 trillion in recapitalisation, with 25 of 38 banks meeting new requirements. Stakeholders now shift focus to deploying funds into productive sectors like MSMEs and infrastructure.
Banks Close Branches for Eid Holidays, Advise Digital Use
Commercial banks across Nigeria have announced a two-day closure of branches on March 19-20, 2026, in compliance with federal government public holidays for Eid-el-Fitr. Customers are urged to use digital channels like mobile apps and ATMs during this per
Moniepoint Denies Customer Arrests Over Court Case
Moniepoint Microfinance Bank clarifies that legal proceedings involve cyberstalking and impersonation charges, not customer complaints, amid allegations of coordinated online disinformation.
NALA Gets CBN Licence, NIBSS Integration for Remittances
Global payments firm NALA has obtained an IMTO licence from Nigeria's Central Bank and integrated with NIBSS, enabling faster, cheaper remittances into Nigerian accounts and wallets.
Banks Raise Savings Rates Following CBN Policy Changes
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
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BVN's Role in Humanizing Nigeria's Digital Economy
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.
Zenith Bank Eyes LSE Listing to Unlock Global Capital
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 Names Jude Anele as Managing Director and CEO
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.
Zenith, Visa Unveil Premium Visa Signature Card
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.
CIBN Inducts 2,020 Bankers, Calls for AI Adoption in Nigeria
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.
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Youth Groups Defend Dangote Refinery Over Fuel Price Increase
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.
Tinubu Swears in Taiwo Oyedele as Finance Minister Today
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 Launches N20bn Commercial Paper with BBB+ Rating
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.
Odu'a Buys 10% Stake in FCMB Pensions After Regulatory Approval
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.
FirstBank Women Network Urges Value Creation for Female Leaders
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
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Nigerian Banks Should Own Aircraft for Economic Growth
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 Appoints New CFO and Business Development Manager
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.
DLM SPV Lists N9bn AAA Notes on FMDQ Exchange
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.
Ex-Lawmaker Urges FG to Keep Niger-Delta Pipeline Deal
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.
CBN, J.P. Morgan Lead Forum on Nigeria's Economic Growth
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.
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Nigerian Banks to Close Branches for Eid al-Fitr Holidays
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.
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