The Central Bank of Nigeria has issued new regulations requiring banks and financial institutions to deploy automated anti-money laundering systems within 18-24 months to combat financial crimes.
Nigerian industrialist Abdulsamad Rabiu recorded the largest wealth increase among African billionaires, with his net worth soaring by $6.1 billion to $11.2 billion, moving him to third place on the continent's rich list.
Nigeria's banking sector nears recapitalisation goals as 30 banks meet CBN's new capital requirements, with 33 raising funds via rights issues and IPOs to strengthen stability and support economic growth.
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First Bank of Nigeria faces widespread criticism after accounts reveal it had outgoing non-core staff train their replacements before locking them out and sending dismissal texts.
FCMB Group has successfully completed a capital raise program, securing N242.8 billion to meet the Central Bank of Nigeria's N500 billion minimum capital requirement for an international banking license.
A Nigerian man relocated abroad and left N5,000 in his local bank account, only to discover it had dwindled to N500 later, sparking debate on banking fees and practices in Nigeria compared to the UK.
Quest Merchant Bank has successfully met the N50 billion minimum capital requirement set by the Central Bank of Nigeria, marking a significant milestone after its exit from First HoldCo. The bank is now positioned to finance large-scale projects across ke
Two Tier-1 Nigerian banks are reportedly in confidential merger discussions as the Central Bank of Nigeria's recapitalization deadline approaches in 21 days, with $706 million in foreign investment flowing into the sector.
Aliko Dangote leads African billionaires with $28.5 billion net worth as four Nigerians feature in Forbes 2026 ranking. Africa's 23 billionaires now worth $126.7 billion combined, marking 21% increase from previous year.
The Nigerian naira continues to depreciate against major currencies including the US dollar, British pound, and euro at both official and parallel markets, despite Central Bank interventions.
As the March 31, 2026 deadline approaches, three Nigerian banks have not met the CBN's new capital requirements, while 30 others have successfully strengthened their capital base to enhance financial stability.
The Central Bank of Nigeria mandates commercial banks to conduct financial stress tests starting April 1, 2026, with insider loans treated as defaults to ensure transparency and stability.
The Central Bank of Nigeria has disclosed that 30 commercial banks have already met the new minimum capital requirements introduced in 2024. The regulator confirmed that 33 banks have raised fresh capital through various channels, with the remaining banks
Following the CBN's decision to lower the interest rate to 26.50%, major Nigerian banks like Zenith, Access, and UBA have published updated prime and maximum lending rates, enhancing transparency for borrowers.
A Nigerian woman's eight-year savings journey on Piggyvest culminated in a surprise offer from the platform to cover her annual rent after she reached N1 million in savings, sparking widespread online celebration.
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The Director General of NAFDAC, Prof. Mojisola Adeyeye, has controversially stated that alcohol consumption is responsible for banditry, kidnapping, and unwanted pregnancy in Nigeria, sparking widespread criticism online.
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FirstBank, in partnership with MOFI, launches the MREIF Home Loan offering a single-digit interest rate of 9.75%, up to ₦100 million loan amount, and 20-year repayment terms, revolutionizing homeownership in Nigeria.
A Nigerian lady shares her emotional journey of saving N1 million on Piggyvest over eight years, celebrating a major financial milestone despite upcoming expenses.
Optimus Bank has successfully raised its paid-up capital to N200 billion, meeting the Central Bank of Nigeria's recapitalisation requirement for national banks well before the March 31, 2026 deadline.
The Central Bank of Nigeria has increased its gold reserves to $3.5 billion through a domestic purchase program, acquiring LBMA-standard refined gold to diversify foreign reserves amid global price rallies.
President Bola Tinubu has nominated Taiwo Oyedele as Nigeria's new Minister of State for Finance. The 50-year-old economist previously chaired the Presidential Committee on Fiscal Policy and Tax Reforms.
Teerus Microfinance Bank Limited has officially received its operating licence from the Central Bank of Nigeria, enabling it to provide inclusive financial services to individuals, SMEs, and underserved communities across the country.
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Branch NG, a leading digital financial services firm in Nigeria, has been honored as the Financial Service Company of the Year at the 2026 National Brand Excellence and Leadership Awards in Lagos.
SunTrust Bank Nigeria Limited has successfully exceeded the N50 billion minimum capital requirement set by the Central Bank of Nigeria, achieving this milestone four weeks before the March 31 deadline. The bank's capital boost was driven by a private plac
The Nigeria Deposit Insurance Corporation has detailed how much customers receive when banks collapse, with maximum payouts of N5 million for commercial banks and N2 million for microfinance institutions.
The EFCC has informed a Lagos court that the CBN board approved AMCON's takeover of Arik Air after the airline faced severe financial distress, with testimony revealing alleged fund diversion.
Union Bank of Nigeria has issued a strong statement assuring customers of deposit security and operational stability following recent comments by the Central Bank of Nigeria governor on recapitalisation timelines for banks under regulatory intervention.
With the March 31, 2026 deadline approaching, 13 Nigerian banks are racing to meet the Central Bank's new capital requirements, sparking potential mergers and acquisitions in the industry.
The Nigerian naira strengthened by N10 in the parallel foreign exchange market after the Central Bank reduced its benchmark interest rate by 50 basis points. Analysts provide insights on the monetary policy shift and its potential economic impacts.
A Federal High Court in Nigeria has ruled that Oriental Energy must pay $43.51 million to billionaire Muhammadu Indimi's twin daughters over unpaid dividends, highlighting governance issues in family-owned businesses.