OPay launches Emergency Lock and Safety PIN for Nigerian users
OPay introduces Emergency Lock and Safety PIN to help Nigerians protect funds instantly during security threats, with a 24-hour freeze that cannot be reversed.
Category : Banking
Providus, Unity Banks Merge to Form ProvidusUnity Bank
Providus Bank and Unity Bank have officially merged to form ProvidusUnity Bank, aiming to deepen financial inclusion and support Nigeria's economic growth with enhanced services.
Access Bank Launches AutoFest to Ease Car Ownership
Access Bank's AutoFest scheme covers up to 90% of vehicle costs with 10% equity, targeting Nigeria's soaring car prices and low new-car sales.
Jaiz Bank Regulatory Penalties Surge to N530.9 Million
Jaiz Bank's regulatory penalties surged to N530.9 million in 2025, a 1,220% increase from N40.2 million in 2024, driven by new CBN sanctions.
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Zenith Bank Opens New Branch in Osubi, Delta State
Zenith Bank has opened a new branch in Osubi, Delta State, expanding its network to better serve customers and support economic growth in the region.
CBN Freezes Accounts of Six Terrorism Financing Suspects
The Central Bank of Nigeria has ordered banks to freeze accounts linked to six individuals and companies suspected of financing terrorism, following a court order.
Providus, Unity Bank to Begin Joint Operations After Merger
Providus Bank and Unity Bank have received regulatory approval to merge, with joint operations starting immediately. The merger aims to strengthen the combined entity's financial standing and market reach.
Naira Gains 0.03% Against US Dollar at Official Market
The naira appreciated by 0.03% against the US dollar at the official NAFEX window on Friday, June 26, 2026, trading at N1,380.93/$1, a gain of 50 kobo from the previous session.
FG admits ₦70,000 minimum wage no longer enough, signals review
The Federal Government acknowledges the ₦70,000 minimum wage is insufficient due to inflation, signalling a fresh review. Chief of Staff Femi Gbajabiamila says the government will partner with labour in upcoming negotiations.
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CBN Warns Against Naira Abuse, Replacement Costs Rise
CBN warns against naira abuse and mutilation, citing rising replacement costs. Governor Cardoso launches Naira Ambassadors Club to educate students on proper currency handling.
CBN Orders Freeze on Assets of 6 Nigerians, 4 BDCs Over Terror
The CBN has directed all banks to freeze assets of six individuals and four BDCs designated for terrorism financing under NIGSAC and OFAC sanctions lists.
SEC Cracks Down on Dangote Refinery IPO Promotions, Orders Refund
The SEC has issued a cease and desist against unauthorised promotions of a purported Dangote Refinery IPO, ordering capital market operators to refund all collected deposits within 24 hours.
Xpress Payment plans AI, IoT push after trillions in transactions
Xpress Payment Solutions plans to expand AI and IoT use after processing trillions of naira in transactions over a decade, its CEO announced at a 10th anniversary lecture in Lagos.
Nigerians Top Applicants in Saint Lucia Citizenship Programme
75 Nigerians were screened for Saint Lucia's Citizenship by Investment Programme in 2023/2024, ranking seventh globally and making Nigeria the only African country among top applicants.
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CREDICORP Reaches 227,000 Nigerians, Expands Mobility
CREDICORP has enabled 227,000 Nigerians to access consumer credit, expanding its mobility programme with three-wheelers in Ijebu-Ode, Ogun State, in partnership with IDIPR and Imowo Microfinance Bank.
inDrive Opens Applications for Chief Wahala Officer Role
inDrive invites Lagos residents to apply for Chief Wahala Officer, highlighting transport challenges and rewarding resilience with cash prizes.
Zulum Commissions IDP Houses, Solar Grid in Illela
Borno Governor Babagana Zulum commissions 100 IDP housing units, solar mini-grid, and Climate Peace Hubs in Sokoto's Illela council, lauding Governor Aliyu's performance.
Femi Otedola Boosts First HoldCo Stake with N29.6bn Buy
Femi Otedola acquires 680.8 million shares in First HoldCo via private placement at N44 per share, raising his ownership to 20.42% and strengthening control.
CBN Report Reveals N134bn Lost to Banking Fraud
Nigeria lost N134.48bn to banking fraud between 2020 and 2025, per CBN report. Losses peaked in 2024 at N52.26bn due to a major internal case, then dropped in 2025 amid stricter controls.
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Exported Dangote Fuel Returns to Nigeria via Togo Hub
S&P Global reveals Nigerian marketers import Dangote refinery products via Lomé, Togo, with 70-80% of sea-borne fuel coming from the refinery between March and May 2026.
UK Court Acquits Ex-Minister Diezani of Bribery Charges
A UK court has acquitted Nigeria's former petroleum minister, Diezani Alison-Madueke, of bribery charges, ending a long-running legal battle.
FirstHoldCo Completes N45 Billion Private Placement Tranche
FirstHoldCo Plc has completed the N45 billion second tranche of its N350 billion Private Placement, with proceeds to be injected into FirstBank to strengthen its capital base ahead of the 2026 deadline.
Nigerian Banks Earn N224.7bn from ATM, e-Banking in Q1 2026
Nigerian banks earned N224.69 billion from ATM and e-banking charges in Q1 2026, a 12.56% rise from 2025. Access Holdings led with N55.71 billion, while Fidelity Bank recorded the highest growth.
FCCPC May Audit MTN, Airtel Over Data Depletion Complaints
The FCCPC may audit telecom operators like MTN and Airtel due to rising complaints of unexplained data depletion, urging consumers to report issues formally.
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Emir of Kano Calls for Stronger North-South Unity
Emir of Kano Aminu Ado Bayero urges national unity at the unveiling of the Newton Jibunoh International Convention Centre in Asaba, Delta State, emphasizing collaboration between North and South.
FirstHoldCo Closes N45b Private Placement, Boosts FirstBank Capital
FirstHoldCo Plc completes N45 billion second tranche of N350 billion private placement, injecting funds into FirstBank to meet CBN capital requirements and strengthen balance sheet.
Flutterwave Gets Ripple Investment, Now Worth $3.3 Billion
Flutterwave receives strategic investment from Ripple, raising its valuation to $3.3 billion. The partnership aims to boost cross-border payments in Africa.
Saudi Arabia Unveils New Kaaba Kiswa for Islamic New Year
Saudi Arabia unveils the new Kaaba Kiswa costing SAR 25 million, as Kano governor urges moral rebirth during the Islamic New Year.
CBN Unveils Tough New Rules to Limit OPay, Moniepoint, Others
The Central Bank of Nigeria has introduced new regulations to prevent any single bank or fintech from dominating the digital payments market, with strict market share limits and compliance requirements.
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CBN Mandates UBO Disclosure for Digital Payment Firms
The Central Bank of Nigeria has directed all financial institutions with digital payment operations to disclose the Ultimate Beneficial Ownership of significant shareholders to promote transparency and reduce market concentration risks.
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