CBN Payment Vision 2028: 50 Million Nigerians to Get Bank Accounts
The Central Bank of Nigeria launches Payment System Vision 2028 to bring 50 million adults into formal banking, aiming for 95% financial inclusion by 2028.
Category : Banking
)
Banks Lend Government ₦15.66 Trillion in One Year
Nigerian banks boosted lending to the government by ₦15.66 trillion between April 2025 and 2026, pushing total public-sector credit to ₦39.60 trillion, a 65.4% increase.
Naira Stable at ₦1,373/$ Official, Black Market at ₦1,395-1,405
The Nigerian naira traded stable on June 2, 2026, at ₦1,373.25 in the official NFEM market, while the parallel market quoted between ₦1,395 and ₦1,405 per dollar.
CBN Releases Banks' Interest Rates as Personal Loans Reach N1.96trn
The CBN reports personal loans in Nigeria hit N1.96 trillion in January 2026, over half of total consumer credit. Latest prime and maximum lending rates are released.
TAJBank Profit Before Tax Surges 74% to N31.56 Billion
TAJBank's profit before tax rose 74% to N31.56 billion in 2025, driven by strong asset growth and earnings. Total assets hit N1.34 trillion.
NGX launches T+1 settlement, cuts trade processing time
Nigerian Exchange Limited (NGX) has implemented T+1 settlement, reducing trade processing from two days to one, enhancing liquidity and aligning with global markets.
Supreme Court Sanctions Providus–Unity Bank Merger
The Supreme Court dismissed an appeal against the Providus–Unity Bank merger, awarding N10m costs and ordering the transfer of assets within 10 days.
CBN Unveils Payments Vision 2028 for Digital Economy
The Central Bank of Nigeria launches NPSV 2028 to accelerate innovation, expand financial inclusion, and strengthen the digital economy, targeting Africa's leading payment ecosystem.
UBA Unveils New Landmark Building at UNILAG
UBA and UNILAG celebrate over 60 years of partnership with a new Innovation Hub and Business Office, enhancing research, student development, and academic endowments.
Alpha Morgan Bank Posts N1.9 Billion Profit in 10 Months
Alpha Morgan Bank recorded N1.9 billion profit before tax in its first 10 months, with customer deposits over N103 billion and zero non-performing loans.
Alpha Morgan Bank Posts N1.9bn Profit Before Tax in First Report
Alpha Morgan Bank records N1.9bn profit before tax in its first 10 months, with N160.4bn assets, N103.1bn deposits, and N13.1bn gross earnings.
CBN Extends PoS Geo-Fencing Deadline to August 1, 2026
The Central Bank of Nigeria has extended the compliance deadline for PoS geo-fencing to August 1, 2026, and increased the operational radius from 10 to 70 metres.
OPay Boosts Financial Inclusion and Jobs in Nigeria
OPay serves over 45 million users in Nigeria, expanding digital payments and creating jobs through agency banking and merchant services, supporting financial inclusion.
Banking Recapitalisation: Tinubunomics Reform Pillar
Analysis of Nigeria's banking sector recapitalisation under Tinubunomics, examining its necessity, risks, and impact on the $1 trillion economy goal.
Businesswoman Seeks CBN Help in Access Bank Loan Row
Dr. Lydia Okodogbe of Eleo Trust Enterprises calls on CBN to compel Access Bank to release her loan statement, alleging business collapse and 400 job losses.
NGX Ends Week Positive, Market Cap Hits N160.5 Trillion
Nigerian Exchange gains 0.27% in shortened week, with financial services stocks leading activity. Market cap reaches N160.5 trillion.
POS Operators Threaten Nationwide Shutdown Over Exclusivity
The Association of Point of Sale Service Providers threatens to suspend services nationwide due to alleged monopolistic practices by two companies, urging CBN and FCCPC intervention.
MTN Subscribers Await Airtime Advance Service Restoration
MTN Nigeria subscribers still waiting for Xtratime service restoration after FCCPC suspension, while Airtel and Globacom have resumed the service.
CBN Holds Rate at 26.5% Amid Inflation and Global Shocks
The CBN retained the MPR at 26.5% in May 2026, signaling caution as inflation edged up and global energy shocks persist. The decision aims to consolidate stability.
CBN Extends PoS Geo-Fencing Deadline to 2026
The Central Bank of Nigeria has extended the PoS geo-fencing enforcement deadline to August 1, 2026, and increased the allowable radius from 10m to 70m.
Abigail Utomi: Building Wealth with Integrity in Nigeria
Abigail Utomi, MD of Alpha10 Group, shares insights on wealth management, leadership, and inspiring women in finance, emphasizing integrity and sustainable growth.
NGF Chairman Urges Tinubu to Raise Minimum Wage to N100,000
Governor AbdulRazaq calls on President Tinubu to increase Nigeria's minimum wage to N100,000, citing improved state finances and rising living costs.
Adebola Osibogun: Driving Innovation at Imowo Microfinance Bank
Lady Otunba Adebola Osibogun, chairman of Imowo Microfinance Bank, shares her journey from banking pioneer to champion of financial inclusion and gender equality in Nigeria.
Wema Bank Names 10-Year-Old as One-Day MD/CEO Winner (30.05.2026)
Wema Bank appoints 10-year-old Chinmamanda Diamond Ozoakpata as one-day MD/CEO for 2026 Children's Day, promoting financial literacy and youth leadership.
Jumia Appoints Ex-AfDB President Adesina to Board
Jumia Technologies appoints Dr. Akinwumi Adesina, former AfDB president, to its supervisory board to strengthen governance and accelerate profitability.
BMONI, Mastercard Partner for Instant Cards in Nigeria
Mastercard and BMONI partner to launch instant Naira and US dollar virtual and physical cards, enabling seamless local and international payments for Nigerians.
Chelsea Demand £120m for Enzo Fernandez
Chelsea will demand a club-record £120m if Enzo Fernandez pushes for a summer move to Real Madrid, making him the third most expensive sale in English football history.
Fahmy Named Mondelēz West Africa Managing Director
Ayman Fahmy has been appointed Managing Director for West Africa at Mondelēz International, effective May 15, 2026. He will lead Cadbury Nigeria and drive market expansion.
Canada Opens New Immigration Pathways for Nigerian Doctors
Canada announces new immigration routes for international medical doctors, including Nigerians, with expedited work permits and permanent residency to address healthcare shortages.
EKEDP Launches Power App for Customer Control
Eko Electricity Distribution Plc has launched the EKEDP Power App, a digital platform enabling customers to buy tokens, pay bills, monitor usage, and manage services seamlessly.
Page 11 of 42