CBN Sells N8.5 Trillion OMO Bills to Tighten Liquidity
The Central Bank of Nigeria sold N8.5 trillion in Open Market Operation instruments in January, driving system liquidity into a N2.4 trillion deficit and pushing interbank rates higher.
Category : Banking
First Abu Dhabi Bank Opens Lagos Office for West Africa Expansion
First Abu Dhabi Bank reveals plans to establish a representative office in Lagos, marking its entry into sub-Saharan Africa with focus on Nigeria's infrastructure and energy sectors.
Nigerian Banks Edge Closer to Stability as Recap Deadline Nears
As Nigeria's banking sector approaches the March 31, 2026 recapitalization deadline, top performers like Access Bank and Zenith Bank exceed requirements while others face potential mergers or downgrades.
Naira Gains for 7 Straight Days Against Dollar
The Nigerian naira continues its impressive rally against the US dollar, recording seven consecutive days of appreciation and securing a new exchange rate at the official market.
Zenith Bank Approaches N3 Trillion Market Cap
Zenith Bank Plc is closing in on the N3 trillion market capitalization milestone as investor confidence grows ahead of Q4 earnings and CBN recapitalization deadline.
First Bank Writes Off N748bn Bad Loans, Otedola Explains
First Bank Holdings Plc has written off N748 billion in legacy bad loans, causing a 92% profit decline. Chairman Femi Otedola explains this as a necessary one-time action for long-term stability and future growth.
Otedola: FirstBank's N748bn Loan Write-Off Secures Future
First Bank Holdings Chairman Femi Otedola details the strategic decision to write off N748bn in bad loans, aligning with CBN directives to ensure long-term financial stability despite a 92% profit drop.
Wema Bank Profit Jumps 124% to N193.2bn in 2025
Wema Bank Plc announces stellar 2025 results with 124% profit growth to N193.2bn, N653.3bn gross earnings, and 30% deposit increase to N3.28 trillion.
Kuda Bank Gets CBN Licence for Physical Banking Operations
Kuda Microfinance Bank has secured a national licence from the Central Bank of Nigeria, enabling it to establish physical banking operations across the country while maintaining its digital-first strategy.
CBN Recapitalisation Sparks Merger Talks for Nigerian Banks
Four Nigerian banks face potential mergers ahead of March 2026 CBN recapitalisation deadline, with Union Bank, Keystone Bank, Unity Bank, and Polaris Bank exploring strategic options.
UNICEF, Bank Open 1,500 Jobs for Nigerian Women
UNICEF and Standard Chartered Foundation partner to create 1,500 sustainable job opportunities for young Nigerian women aged 18-24, focusing on economic inclusion and tackling youth unemployment.
Godwin Emefiele: Where is Former CBN Governor Now?
Former Central Bank of Nigeria Governor Godwin Emefiele has retreated from public life after facing financial misconduct allegations. This article explores his current situation, legal battles, and career background.
Nigerian Banks Face Liquidity Crunch After CBN's N3.7 Trn Withdrawal
The Central Bank of Nigeria's withdrawal of N3.7 trillion through treasury and OMO bill sales has pushed the banking system into a N2.5 trillion liquidity deficit, tightening money market conditions significantly.
CBN Allows Use of Expired NAFDAC Licences for Importers
The Central Bank of Nigeria has approved a temporary two-month dispensation allowing importers to use NAFDAC licences that expired in December 2025 for Form M processing.
CBN Allows Expired NAFDAC Licenses for Imports Temporarily
The Central Bank of Nigeria has authorized a two-month grace period for importers to use expired NAFDAC licenses in processing Form M applications due to system migration challenges.
Nigerian Banks Acquire Kenyan Lenders in Continental Expansion
Two major Nigerian banks have acquired Kenyan lenders as part of a strategic push to deepen their continental footprints. This move highlights Kenya's growing importance as East Africa's banking hub amid regulatory reforms and currency stability.
Court: Man Can Keep 330x Salary Overpayment After Resignation
A Chilean court has ruled that a distribution assistant who received 330 times his salary due to a payroll error can keep the money after resigning, dismissing theft charges in a landmark case.
Moniepoint Launches New Jobs After CBN Licence Upgrade
Moniepoint MFB announces multiple job vacancies across technical and administrative roles following its Central Bank of Nigeria licence upgrade to operate nationwide.
Providus-Unity Bank Merger Nears Completion as CBN Deadline Looms
The merger between Providus Bank and Unity Bank is in its final stages, awaiting court sanction as Nigerian banks race to meet the Central Bank's March 2026 recapitalisation requirements.
Providus-Unity Bank Merger Nears Finish Line Ahead of CBN Deadline
The merger between Providus Bank and Unity Bank enters final phase with court sanction pending, as Nigerian banks race to meet CBN's March 2026 recapitalisation requirements.
CBN Plans New ATM Rules to Improve Cash Access
The Central Bank of Nigeria will introduce regulations requiring banks to align debit card issuance with ATM capacity to reduce downtime and restore confidence in electronic payments.
CBN, NIBSS List 13,417 Fraud Suspects on New Portal
Nigeria's financial regulators intensify anti-fraud efforts with 13,417 individuals listed on central Person of Interest Portal. Fraud losses surged to N52.26 billion in 2024 despite declining cases.
Bank Customer Complaints Surge 143%, Electronic Fraud Tops List
CBN resolves 9,771 complaints in H1 2025 as electronic transaction issues and fraud cases dominate customer grievances. Total claims reach N21.42 billion with N7.17 billion refunded.
Keystone Bank Relocates Ikoyi Branch to Modern Facility
Keystone Bank has relocated its Awolowo Road branch in Ikoyi to a state-of-the-art facility at 1 Keffi/Manuwa Street, Lagos, as part of its strategy to improve customer service and operational efficiency.
LivingTrust Mortgage Bank Posts N1.01b Profit for 2025
LivingTrust Mortgage Bank Plc announces a profit after tax of N1.01 billion for 2025, an 18.3% increase from 2024, with significant growth in assets, loans, and deposits.
Parallex Bank Sponsors Youth Awards, Backs African Talent
Parallex Bank Plc has sponsored the 2025 Future Africa Leaders Awards, honoring 10 young Africans for community impact. The bank's MD emphasized Nigeria's youth potential and commitment to empowerment.
CBN's Bank Recapitalisation Drive for Stronger Financial System
The Central Bank of Nigeria's ongoing recapitalisation programme aims to create bigger, resilient banks capable of supporting Nigeria's trillion-dollar economy ambition. With 20 banks already meeting requirements, the exercise progresses toward the March
NAFDAC Alcohol Ban Could Cost 5 Million Jobs, Says TUC
The Trade Union Congress warns NAFDAC's ban on alcohol in sachets could lead to massive job losses and investment collapse, accusing the agency of targeting indigenous producers.
EFCC: Banks, Fintechs Enabled N162bn Crypto, N18.7bn Scams
The EFCC has accused financial institutions of facilitating massive fraud schemes by neglecting KYC procedures, leading to over N18.7bn in losses for more than 900,000 Nigerians.
Labour Unions Give FG 14-Day Deadline on Health Salaries
The Trade Union Congress and Nigeria Labour Congress have issued a 14-day ultimatum to the Federal Government over non-implementation of CONHESS salary structure for health workers, threatening nationwide strike action.
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