CBN Releases New Exchange Rate as Naira Strengthens
The naira strengthened against major currencies amid improved liquidity and investor confidence, with CBN releasing new rates. Analysts predict sustained momentum.
Category : Banking
IMF: Nigerian Banks Slow to Cut Lending Rates
The IMF reports that Nigerian banks rapidly increase lending rates during tightening but are slow to reduce them, highlighting asymmetric monetary policy transmission.
Airtime Credit Market: Regulatory Turmoil and Banking Competition
Nigeria's airtime lending market, valued at N400 billion, faces regulatory shifts, legal battles, and bank incursions, impacting millions of subscribers.
Tony Elumelu Named Seplat Chairman, Effiong Okon CEO
Tony Elumelu will become Seplat Energy Chairman in January 2027, succeeding Udoma Udo Udoma. Effiong Okon appointed CEO from August 2026.
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Enugu Launches Digitised Land Document System
Enugu State Housing Development Corporation launches a fully digitised land transaction system, enhancing transparency, efficiency, and accountability under Governor Peter Mbah's reform agenda.
Grace Oyeniyi Elected ALAN Vice President
Grace Oyeniyi, HR Director at Bloomfield Law Practice, has been elected Vice President of the Association of Law Firm Administrators of Nigeria (ALAN), recognizing her contributions to legal practice management.
US Soldier Explains How Nigerians Can Join the US Army
A US soldier explains that Nigerians must be physically present in the United States to join the US Army, warning against online scams.
Zedvance Commits 100% Loans to SMEs
Zedvance's parent company Zedcrest shifts focus to SMEs, pledging 100% of its loan portfolio to support mid-market enterprises and ecosystem enablers.
Nestoil Lenders Clarify Supreme Court Ruling on Debt
Nestoil Lenders refute false claims that Supreme Court ruling absolves Nestoil of $1.08 billion debt, emphasizing recovery actions continue.
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United Capital Gets Licences in Ethiopia, Rwanda
United Capital becomes first foreign firm licensed for investment banking in Ethiopia, also securing regulatory approval in Rwanda, boosting its continental expansion.
Accion MFB Repays N2 Billion Commercial Paper
Accion Microfinance Bank repays N2 billion Series 1 Commercial Paper, reinforcing its credibility in Nigeria's debt capital market and commitment to financial inclusion.
CIPM Re-elects President Ahmed Gobir, Vows Professionalism
The Chartered Institute of Personnel Management of Nigeria re-elects Ahmed Gobir as president, highlighting membership growth, digital transformation, and global partnerships.
New Zealand New Work Visa Options for International Graduates
New Zealand introduces a six-month Short-term Graduate Work Visa for international graduates, including Nigerians, effective November 2026, with specific conditions.
Nigeria Private Sector Credit Hits N700.31 Trillion in 2025
Nigerian banks' credit to private sector rose to N700.31 trillion in 2025, up 1.5% from 2024, with oil and gas leading, manufacturing dropping, and financial services surging.
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Nigerians in US Face Tougher Green Card Rules Under New DHS Policy
The DHS issued a stricter policy memo on May 21, 2026, making US Green Card applications harder for Nigerians. Applicants must prove extraordinary circumstances.
CBN Tightens FX Rules, Imposes N100m Fine on Banks
The CBN has revised its foreign exchange framework, introducing a N100 million penalty for banks processing FX transactions without proper documentation to boost transparency.
MTN Nigeria remits N878.7bn in taxes, boosts revenue
MTN Nigeria paid N878.7 billion in taxes and levies in 2025, a 15% increase, supporting government fiscal reform and non-oil revenue growth.
Top 10 Longest-Standing Banks in Nigeria
Discover Nigeria's top 10 oldest banks, including First Bank and Union Bank, which have survived over 100 years. Learn their histories and transformations.
MTN CEO Karl Toriola's 6 Tips to Stretch Your Data
MTN CEO Karl Toriola offers six practical tips to help Nigerians optimise mobile data usage, reduce waste, and make internet subscriptions last longer.
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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.
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.
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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.
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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.
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