The Federal High Court ruled that PoS operators must register with the Nigeria Data Protection Commission (NDPC) under the Nigeria Data Protection Act 2023, affirming NDPC regulatory authority over PoS data processing.
Rising fraud and settlement delays erode confidence in Nigeria's N1.07 quadrillion payment system, prompting calls for regulatory overhaul and enhanced security measures.
The naira appreciated to N1552 per dollar at the official market, supported by the Central Bank of Nigeria's high interest rate policy and stable FX supply.
Zenith Bank has been recognized as the best performing lender in Nigeria based on key financial metrics beyond asset size, including return on equity and cost efficiency.
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FCMB Group Plc reports a 99% year-on-year rise in profit before tax to ₦157.3 billion for H1 2026, driven by strong growth across all divisions and digital revenue.
The Chartered Institute of Bankers of Nigeria and ACAMB have urged banks to deepen financial inclusion and women empowerment, as new CIBN President Dr. Dele Alabi unveils his six-pillar IMPACT vision.
Learn how to check your NIRSAL loan status and balance using your BVN. Step-by-step guide for portal login, application, and contact details.
CIBN and ACAMB collaborate to promote financial inclusion, women empowerment, and sustainable growth in Nigeria's banking industry, targeting unbanked populations and gender equality.
Israel published six conditions foreigners must satisfy for citizenship, including Hebrew proficiency and residency. Application fee is ILS 195 (approx. N87,022). Applicants must also renounce other nationality.
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Three financial stocks—First Holdco, Access Holdings, and GTCO—dominated Nigerian Exchange trading, accounting for 55.79% of total value and 48.51% of volume in a week that saw market cap rise 1.61%.
Ecobank Transnational Incorporated (ETI) reported a pre-tax profit of N584.01 billion for the first half of 2026, driven by strong revenue growth and effective cost management.
Cash outside banks in Nigeria fell to a seven-month low in June 2026, dropping by N485.80 billion month-on-month, according to CBN data.
Nigeria's foreign exchange turnover hit a record $4.38 billion, but the Association of Exchange Rate warns this masks underlying liquidity risks that could destabilize the naira.
Lagos State transport authority LAMATA will begin prosecuting commuters who pay cash on regulated buses starting August 1 as part of the cashless policy enforcement.
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FCMB Group Plc announced a pre-tax profit of N157.3 billion for the first half of 2026, driven by a 45% increase in net interest income to N210 billion amid strong loan growth.
FairMoney Microfinance Bank deploys 100,000 PoS terminals across Nigeria, leveraging merchant transaction data to unlock business loans for MSMEs, prioritizing quality over quantity in the competitive payments market.
Moniepoint's 2025 Impact Report reveals women-owned businesses default 2.5 times less than men, despite receiving only 36% of loans. Credit Direct data confirms lower delinquency rates.
Access Bank launches an AI-driven app to help Nigerian SMEs track sales, inventory, and staff remotely. Experts warn 50% of small businesses fail in their first year.
Women-owned businesses in Nigeria have a default rate 2.5 times lower than male-owned businesses, according to Moniepoint's 2025 Impact Report, challenging traditional credit risk assumptions.
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Linkage Assurance Plc successfully completed a N16.2 billion Rights Issue, meeting NAICOM's N15 billion minimum capital requirement ahead of the July 31, 2026 deadline.
The Central Bank of Nigeria reports average maximum lending rate fell to 33.16% in June 2026, down from 34.78% in May, as the MPR stays at 26.5%.
The Asset Management Corporation of Nigeria recovered N165 billion in the first half of 2026 and announced plans to divest from telecom firm ntel, marking a key step in its resolution mandate.
The Central Bank of Nigeria plans to raise N700 billion in the third and final treasury bills auction for July 2026, with tenors of 91, 182, and 364 days.
UBA won Best ESG Bank and Best Retail Bank in Nigeria at the 2026 Euromoney Awards, alongside Best Bank for SMEs in Africa, highlighting its sustainability and digital leadership.
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Aliko Dangote reveals why his cement company chose London for its IPO over Dubai, citing investor depth and regulatory familiarity.
South Korean billionaire Chey Tae-won may be ordered to pay his ex-wife nearly $1 billion in a divorce settlement after having a child with another woman. The court ruling is expected on July 24.
Betpawa's instant locker room bonus relies on a robust mobile money infrastructure, processing millions of transactions daily across Nigeria.
CREDICORP launches YouthCred with three loan products for NYSC, salaried workers, and entrepreneurs aged 18-39, offering up to N5 million without collateral.
Nigerian banks and fintechs have begun deducting 7.5% VAT on ATM card issuance and maintenance fees. The Nigerian Revenue Service clarifies this is not a new tax but enforcement of existing VAT rules on service fees only.
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Airtel Africa Plc announced a pre-tax profit of $360 million for Q1 2026, driven by strong revenue growth across its mobile services and data segments.
