CBN Releases September Lending Rates for Nigerian Banks
CBN published September lending rates for Nigerian banks. Stanbic IBTC hit 60% maximum rate; Tatum Bank led prime at 37.07%. Rates follow MPC cut to 23%.
Category : Banking
Nigeria's BVN Enrolment Hits 70.35 Million as Security Rules Tighten
Nigeria's BVN enrolments surpassed 70 million, reaching 70.35 million as of September 28, 2026, according to NIBSS data. New CBN rules tighten enrolment, phone changes, and verification.
Naira Gains as CBN Confirms New Exchange Rate, FX Gap Narrows
Naira appreciates 0.06% to N1,330.47/$ in official market; parallel rate drops to N1,375, narrowing gap to about N45 amid 226% surge in interbank FX turnover.
Naira Drops to N1,331.32/$ as FX Turnover Plunges 77.7%
The naira depreciated by N1.81 against the dollar at NAFEM on September 28, closing at N1,331.32/$, as interbank FX turnover fell 77.7% to $24.73 million, according to market data.
CBN Probes Banks Over Domiciliary Account Withdrawal Limits
The Central Bank of Nigeria has launched an investigation into banks accused of restricting customer withdrawals from domiciliary accounts, following complaints from customers in Lagos and beyond.
Nigerian Banks With Over N20 Trillion Assets: Full List
Five Nigerian lenders reported combined assets of ₦20.47 trillion and profit after tax of ₦338.4 billion in H1 2026. FCMB and Wema dominate profits.
Access Bank: Block Account With 901911# If Details Are Compromised
Access Bank warns Nigerians against fake promotions and phishing scams. Customers can block compromised accounts by dialling 901911# or chatting with Tamada on the Access More app. Never share OTP, PIN, CVV, or card details.
CBN Updates Dollar, Pound, Euro Exchange Rates for Sept 24
The CBN published official exchange rates for September 24, 2026, with the dollar selling at N1,328.67. The pound and euro held above N1,500, while reserves hit $55 billion.
Gambia Bank Localisation Policy Draws Criticism From Analysts
Analysts criticise The Gambia's plan to replace foreign bank workers, including Nigerians, warning of cost increases, disruptions, and skilled labour shortages.
Gambia Orders Banks to Dismiss Non-Indigenes by December
The Central Bank of The Gambia has directed commercial banks, including Nigerian-owned lenders, to phase out non-Gambian employees outside approved expatriate quotas by December, citing labour law violations.
Naira Drops to N1,328.50 Despite CBN Rate Cut
Naira depreciated to N1,328.50 per dollar at the official market despite CBN rate cut, while external reserves rose to $54.808 billion and Brent crude climbed above $102.
Sterling Bank Refunds N50 Stamp Duty After Legal Demand
Sterling Bank refunded N50 stamp duty to customer Abdulrauf Adedeji Kazeem within a day of a legal letter from Festus Ogun, citing banker/customer contract terms.
Naira Gains as Pound Drops Below ₦1,800, New FX Rates Emerge
Naira strengthens as British pound falls below ₦1,800, trading around ₦1,786, amid improved FX liquidity and sterling's weakness on international markets.
UBA Offers N30m Personal Loans for Dangote Refinery IPO
UBA offers customers up to N30 million personal loans to invest in the Dangote Refinery IPO priced at N525 per share, with minimum 10 shares per transaction.
FCMB, Zenith, Access Lead as Nigeria's Highest-Paid Bank CEOs in 2025
FCMB's top director earned N447.9 million in 2025, the highest among Nigerian banks. Zenith's pay surged 110.9%, while Access and First HoldCo saw pay outpace profit growth.
Bankit becomes WayvePay, launches new digital banking era
Bankit Microfinance Bank has transitioned to WayvePay, unveiling a new digital banking and payments platform for Nigerians, effective September 18, 2026.
FinStore Offers Nigerian SMEs Loans Up to N100m for Expansion
Nigerian fintech FinStore now offers SMEs loans up to N100 million. Co-founder Ayomide Olupitan says the platform is free, supports monthly credit of N1 million, and plans African expansion.
Naira Gains N1 Against Dollar as CBN Injects $151m
The naira appreciated to N1,328.22 per dollar at the official market on Thursday after the CBN sold $151 million, while interbank FX turnover surged 69.82%.
Canada eTA 2026: CAD $7 Fee for Foreigners Confirmed
Canada confirms CAD $7 (N6,710.74) eTA fee for visa-exempt foreigners. Application online, valid 5 years, multiple trips. US citizens exempt.
FCCPC Rules Tighten Instant Loan Access for High-Risk Nigerians
Digital lenders in Nigeria now enforce stricter borrower checks under new FCCPC regulations effective July 2025, limiting instant credit for high-risk applicants and imposing fines up to N100 million.
Dangote Refinery IPO: Full List of Banks and Apps to Buy Shares
Investors can buy Dangote Refinery IPO shares via over 50 approved platforms, including banks, NGX Invest Portal, and apps like PiggyVest and Bamboo.
Naira Gains 31 Kobo; FX Reserves Cross $54 Billion
The naira appreciated 31 kobo to N1,320.25/$1 at NAFEM on September 8, 2026, as Nigeria's FX reserves surpassed $54 billion, the highest since December 2008.
Six Nigerian Banks in Africa's Top 20 Lenders by Assets
Six Nigerian banks made Africa's top 20 lenders by assets, led by Access Bank at $36bn. The ranking follows a two-year recapitalisation and ahead of FTSE Russell reinstatement.
Nigerian Banks Raise Card Limits as Reserves Hit $54bn
GTBank, FirstBank, Zenith, UBA, and Stanbic IBTC raised international naira card limits as Nigeria's external reserves hit $54.08bn, the highest in nearly two decades.
Dangote Gains $1 Billion in 24 Hours, Net Worth Hits $32.5 Billion
Aliko Dangote's net worth rose $1 billion to $32.5 billion on Monday, September 7, 2026, according to Forbes, as investors await the refinery IPO opening September 14.
UAE Publishes 7 Official Job Portals for Foreign Job Seekers
The UAE government has published seven official job portals for foreigners, alongside a jobseeker visit visa option, allowing entry without a sponsor and free registration.
CSCS Proposes 50% Cut in Retail Lien Fees, Scraps Family Transfer Charges
CSCS proposes halving retail lien fees to 0.125% and removing charges on family transfers, cutting stockbroker costs in Nigeria's capital market.
CBN to Sell N700bn Treasury Bills in Second August Auction
The Central Bank of Nigeria will auction N700 billion in treasury bills today, its second August sale, to manage liquidity and fund government obligations.
MTN Eyes Banking Licences to Take On OPay, Moniepoint in Lending
MTN Group is exploring banking licences in select African markets to compete with digital lenders like OPay and Moniepoint, CEO Ralph Mupita announced on Tuesday.
Banks Filed 92% of Suspicious Reports in 2025, NFIU Data Shows
Deposit Money Banks filed 38,715 of 42,082 Suspicious Transaction Reports received by the NFIU in 2025, about 92% of the total, according to the agency's annual report.
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