Energy Marketers Adjust Petrol, Diesel Prices in Nigeria
Depot owners in Nigeria reduced petrol and diesel prices in Lagos, Warri, and Port Harcourt in early June 2026, reflecting global crude oil price changes and competition.
Category : Banking
CBN Fines Banks N100m for Undocumented FX Transactions
The Central Bank of Nigeria has introduced a N100 million penalty on banks for processing undocumented forex transactions, along with stricter penalties for reporting breaches and FX limit violations.
FCCPC Expands Airtime Credit List Despite Court Order
The FCCPC has approved four new airtime credit operators, expanding the list to nine, despite a court injunction and its own suspension of the licensing framework.
CBN Slams N100m Fine on Banks for Forex Rule Breaches
The Central Bank of Nigeria imposes N100m penalty on banks for forex violations under a new compliance framework, with escalating fines for various infractions.
Nigerians Still Trust Banks Over Fintechs: Retail Deposits Hit N39T
Retail deposits in six major Nigerian banks rose 24% to N39.01 trillion in 2025, showing banks remain dominant despite fintech growth. Zenith Bank leads, Access Holdings grows fastest.
Canada Announces 2026 Job Openings for Skilled Professionals
Canada opens Express Entry for skilled professionals in 2026, targeting doctors, educators, STEM experts, and tradespersons for permanent residence.
Tottenham Sign Liverpool Legend Andy Robertson on Free Transfer
Tottenham have announced the signing of defender Andy Robertson on a free transfer. The 32-year-old Scotland captain will join Spurs on July 1 after his Liverpool contract ends.
CBN Sets New Cash Travel Limits: $10,000 to $50,000
The Central Bank of Nigeria has issued new forex guidelines allowing travellers to carry up to $50,000 out of Nigeria with declaration, while inbound transfers above $200 must go to bank accounts.
Nigerian Banks Fight Back as Fintechs Face Tougher Rules
Nigerian banks are reclaiming market share from fintechs like OPay and PalmPay amid tighter regulations, benefiting consumers with faster and cheaper digital payment services.
Abbey Mortgage Bank Gets CBN Approval for Conversion
Abbey Mortgage Bank Plc secures CBN approval to convert to a regional commercial bank, changes name to Abbey Bank PLC, and plans to raise N164.5 billion in capital.
Tech Investments to Deepen Financial Inclusion in Nigeria
FairMoney's Adebowale Aderoju says scaling tech investments is crucial for financial inclusion, targeting the 30 million unbanked adults in Nigeria.
Bank Account Charges Hit N209bn in Q1 2026
Nigerian banks earned N209.18 billion from account maintenance fees in Q1 2026, a 14% rise year-on-year. Zenith, Access, GTCO, First Holdco, and UBA led the fees.
CBN Unveils New Forex Rules: 7 Key Changes in 2026
The Central Bank of Nigeria has released the 2026 Foreign Exchange Manual with updated rules. Key changes include retained $10,000 cash limit, digital PTA payments, and stricter penalties.
Dangote Firms Q1 Profit Up 52% to N456.68 Billion
Dangote Cement, Sugar Refinery, and NASCON achieved N456.68 billion profit before tax in Q1 2026, a 52% rise from N300.61 billion in Q1 2025, driven by revenue growth and cost efficiency.
Ewenla Wins African HMO CEO Leadership Award 2026
Lekan Ewenla, MD of Ultimate Health, wins the 2026 African HMO CEO Leadership Award for innovation and customer satisfaction in health insurance.
Nigerian Breweries Appoints Nkechi Runsewe HR Director (04.06.2026)
Nigerian Breweries Plc has appointed Nkechi Runsewe as its new human resources director, effective August 1, 2026, replacing Grace Omo-Lamai who retires after nearly a decade.
Eterna Appoints Dr Jude Nwaulune as New CEO
Eterna Plc appoints Dr Jude Nwaulune as CEO, effective May 14, 2026. He succeeds Olumide Adeosun, bringing over 20 years of experience in Nigeria's downstream energy sector.
SanlamAllianz Hosts Third Children's Day Funfair in PH
SanlamAllianz Nigeria held its third annual Children's Day Funfair in Port Harcourt, celebrating education policyholders' children with fun and learning activities.
CBN Approves Abbey Mortgage Bank for Commercial Banking
The Central Bank of Nigeria has granted Abbey Mortgage Bank Plc approval to transition into a commercial bank, expanding services beyond mortgage financing.
Banks Raise Dollar Limits on Naira Cards as FX Eases
GTBank, UBA, FirstBank, and others increase international spending limits on naira debit cards as improved FX liquidity boosts confidence in Nigeria's financial system.
CBN Relaxes Dollar Account Rules, Grants Unrestricted FX Access
The Central Bank of Nigeria has unveiled a new FX framework granting unrestricted access to domiciliary accounts for individuals, while tightening compliance for exporters to boost liquidity and transparency.
Shettima Urges States to Fast-Track Reforms for $750m SABER
Vice President Kashim Shettima calls on state governments to accelerate business reforms to maximize the $750m World Bank SABER programme, aiming to boost investment and economic growth.
Tinubu Hails N128bn Mortgage for 1,859 Families
President Tinubu applauds N128 billion mortgage disbursement to 1,859 families in 25 states under the Renewed Hope Agenda, boosting affordable housing finance.
Dash Quest: Earn ₦30,000 by Banking Daily with Dash Microfinance Bank
Dash Microfinance Bank launches Dash Quest, rewarding users with ₦30,000 for daily transactions. Sign up, transact, and unlock cash rewards seamlessly.
CBN Launches PSV 2028 for 95% Financial Inclusion
CBN launched Nigeria Payment System Vision 2028 targeting 95% financial inclusion, 50 million new banked adults, reduced cash usage, and enhanced digital payments infrastructure.
CBN Reshuffles Four Deputy Governors in New Redeployment
The Central Bank of Nigeria has announced a reshuffle of four deputy governors, effective June 1, as part of reforms to strengthen the financial sector and improve regulatory effectiveness.
CBN Gives 3 Banks Extra 3 Weeks for Recapitalisation
The CBN has granted Union Bank, Polaris Bank, and Keystone Bank an additional three weeks to meet recapitalisation requirements due to legal and regulatory challenges.
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OPay: Driving Financial Inclusion and Creating Jobs in Nigeria
OPay's fintech revolution is reshaping Nigeria's financial landscape, serving over 45 million users and creating jobs while promoting cashless transactions nationwide.
Flutterwave Launches Global Employee Relief Package
Flutterwave announces one-time economic relief for all employees, promotions for 25% of staff, cost-of-living adjustments, and tax support in Nigeria amid rising global costs.
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Unity Bank and Providus Bank Merger: What You Need to Know
The Unity Bank and Providus Bank merger is approved. Learn how it affects your deposits, ATM cards, loans, and banking services. Your money is safe.
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