Naira Weakens to N1,353/$ at Official Market
The naira depreciated to N1,353.91/$1 at the official market amid falling forex turnover. CBN releases new exchange rates for major currencies.
Category : Banking
CBN Caps Transfer and ATM Fees in New 2026 Banking Guidelines
The Central Bank of Nigeria releases draft guidelines capping transfer and ATM fees, enhancing transparency and promoting digital payments.
Providus Bank Opens New Branch in Ado-Ekiti
Providus Bank has opened a new branch in Ado-Ekiti, expanding its footprint in key growth markets as part of a 12-month national expansion plan.
NLPC Pension AUM Reaches N625 Billion
NLPC Pension Fund Administrators' assets under management grew to N624.95 billion, a 5.42% increase, reflecting confidence in retirement savings amid economic challenges.
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Banks Fail ESG Test as Coalition Demands Reform
A coalition report finds Nigeria's top banks score poorly on sustainability and ESG standards, urging regulatory reforms.
Afreximbank, St Kitts Sign Hosting Deal For ACTIF2026
Afreximbank and St Kitts and Nevis signed the hosting agreement for ACTIF2026, set for July 29-31, 2026, to deepen Africa-Caribbean trade ties.
Nigeria Begins Telecom Consumer Compensation Era
NCC announces automatic airtime refunds for telecom subscribers affected by poor service, marking the start of the Consumer Compensation Era in Nigeria.
Andray Finance App Fights Predatory Lending in Nigeria
Andray Finance unveils a mobile app on Google Play and iOS to provide ethical credit options, challenging predatory lending practices in Nigeria.
Nigerians Can Now Borrow Airtime and Data from 5 New Providers
The FCCPC has approved five new providers for airtime and data borrowing in Nigeria, replacing MTN and Airtel. Learn how the new system works and what to expect.
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Zenith Bank Hits N5 Trillion Market Cap, Sets New Record
Zenith Bank becomes first Nigerian bank to surpass N5 trillion market capitalisation, with shares surging under CEO Adaora Umeoji. The bank also ranks as Nigeria's most profitable in 2025.
Court Upholds FCCPC Power, Fines UBA in Banking Consumer Case
A Federal High Court in Abuja dismissed UBA's suit challenging the FCCPC's jurisdiction, affirming its authority to protect bank customers and imposing a N2 million fine on the bank.
Court Dismisses UBA Suit, Says Banks Answerable to FCCPC
A Federal High Court in Abuja has dismissed a suit by United Bank for Africa (UBA) challenging the FCCPC's jurisdiction, affirming its authority to investigate consumer complaints against banks and imposing a N2 million fine on UBA.
Nigeria Banks Face New Fraud Trend: Fewer Attacks, Bigger Losses
Fraud cases in Nigeria's banking sector have declined by 4%, but financial losses per incident have surged dramatically, with internet banking recording the highest losses despite fewer cases, highlighting evolving cyber threats.
Zenith Bank Hits ₦5 Trillion Market Cap, Sets Banking Record
Zenith Bank Plc has become the first Nigerian bank to achieve a market capitalisation of over ₦5 trillion, marking a historic milestone in the country's financial industry. This achievement reflects strong investor confidence, robust profitability, and ef
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Nigeria Secures N60bn Credit Facility from Arab Bank
BADEA signs N60 billion credit facility with DBN to improve MSME financing, targeting women- and youth-led businesses to bridge Nigeria's N13 trillion funding gap.
Moniepoint Playbook: Trust, Tech and Human Support in Banking
Moniepoint Microfinance Bank leads Nigeria's agency banking with a hybrid model blending technology and human support, driving financial inclusion and grassroots economic growth.
CBN Warns Public on New Fraud Methods Targeting Bank Customers
The Central Bank of Nigeria has issued a public alert about fraudulent messages falsely claiming to be from the bank, designed to steal personal and financial information. Nigerians are urged to avoid suspicious links and verify all communications.
Savings Crisis Deepens as Nigerians Struggle Financially
A new report reveals a sharp decline in savings culture among Nigerians, with many lacking emergency funds and long-term financial security due to inflation and poor planning.
Alert Group Aims for N250bn Assets, N180bn Loans by 2026
Alert Group, with a new national microfinance banking licence from the CBN, plans to grow assets to N250 billion and loans to N180 billion by 2026, focusing on MSME financing.
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Credit Direct, Vivo Partner on Smartphone Credit Purchase
Credit Direct and Vivo Nigeria have signed an agreement to provide smartphones through installment payments, requiring a 20% down payment with the balance spread over six months, targeting over 200,000 device sales in the first year.
MoniePoint MFB Deepens Agency Banking for Real Economy
MoniePoint Microfinance Bank reinforces its leadership in Nigeria's agency banking, emphasizing service quality and local support to boost financial inclusion and empower small businesses.
5 Hidden Roles of Nigeria's Central Bank Revealed
Discover five lesser-known responsibilities of the Central Bank of Nigeria that shape the economy, protect financial stability, and influence your daily financial life beyond inflation control.
Zenith Bank Hits N5 Trillion Market Cap, Tops Nigerian Banking
Zenith Bank Plc has achieved a historic milestone by crossing N5 trillion in market capitalization, making it Nigeria's most valuable banking institution. The bank reported over N1 trillion in profit after tax for 2025 and announced a final dividend of N8
Quest Merchant Bank Rebrands After First HoldCo Divestment
Quest Merchant Bank has officially changed its name and logo after being sold by First HoldCo. The rebranding aims to strengthen its competitive position in global finance and reflect a future-focused strategy.
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Union Bank Celebrates 109 Years of Nigerian Service and Growth
Union Bank commemorates 109 years of operation, highlighting its role in financing Nigeria's infrastructure, SMEs, and economic development since 1917, with plans to expand digital services and agricultural financing.
CBN, NCC Sign MoU to Fight SIM Fraud, Protect Consumers
The Central Bank of Nigeria and Nigerian Communications Commission have signed a memorandum of understanding to tackle SIM-related fraud, enhance payment system integrity, and strengthen consumer protection in the digital economy.
CBN Calms Fears Over Banks Missing Recapitalisation Target
The Central Bank of Nigeria assures customers that Union Bank, Providus, and three other lenders remain stable despite failing to meet the March 2026 recapitalisation deadline, citing ongoing legal and regulatory processes.
GCR Upgrades Coronation to A, A1 with Stable Outlook
GCR Ratings has elevated Coronation Group Limited's national-scale long and short-term issuer ratings to A and A1, respectively, from previous BBB+ and A2, citing improvements in capitalisation, earnings, and risk management.
PenOp Appoints Anthonia Okoro as New CEO for Industry Efficiency
The Pension Fund Operators Association of Nigeria (PenOp) has appointed Anthonia Okoro as its new Chief Executive Officer to enhance operational efficiency and performance in Nigeria's pension sector.
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Wema Bank Exceeds CBN Recapitalisation Requirements
Wema Bank has successfully met and exceeded the Central Bank of Nigeria's recapitalisation threshold, raising its qualifying capital to N264.7 billion through a N150 billion rights issue and N50 billion special placement, reinforcing its position as a nat
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