CBN Allows Use of Expired NAFDAC Licences for Importers
The Central Bank of Nigeria has approved a temporary two-month dispensation allowing importers to use NAFDAC licences that expired in December 2025 for Form M processing.
Category : Banking
CBN Allows Expired NAFDAC Licenses for Imports Temporarily
The Central Bank of Nigeria has authorized a two-month grace period for importers to use expired NAFDAC licenses in processing Form M applications due to system migration challenges.
Nigerian Banks Acquire Kenyan Lenders in Continental Expansion
Two major Nigerian banks have acquired Kenyan lenders as part of a strategic push to deepen their continental footprints. This move highlights Kenya's growing importance as East Africa's banking hub amid regulatory reforms and currency stability.
Court: Man Can Keep 330x Salary Overpayment After Resignation
A Chilean court has ruled that a distribution assistant who received 330 times his salary due to a payroll error can keep the money after resigning, dismissing theft charges in a landmark case.
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Moniepoint Launches New Jobs After CBN Licence Upgrade
Moniepoint MFB announces multiple job vacancies across technical and administrative roles following its Central Bank of Nigeria licence upgrade to operate nationwide.
Providus-Unity Bank Merger Nears Completion as CBN Deadline Looms
The merger between Providus Bank and Unity Bank is in its final stages, awaiting court sanction as Nigerian banks race to meet the Central Bank's March 2026 recapitalisation requirements.
Providus-Unity Bank Merger Nears Finish Line Ahead of CBN Deadline
The merger between Providus Bank and Unity Bank enters final phase with court sanction pending, as Nigerian banks race to meet CBN's March 2026 recapitalisation requirements.
CBN Plans New ATM Rules to Improve Cash Access
The Central Bank of Nigeria will introduce regulations requiring banks to align debit card issuance with ATM capacity to reduce downtime and restore confidence in electronic payments.
CBN, NIBSS List 13,417 Fraud Suspects on New Portal
Nigeria's financial regulators intensify anti-fraud efforts with 13,417 individuals listed on central Person of Interest Portal. Fraud losses surged to N52.26 billion in 2024 despite declining cases.
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Bank Customer Complaints Surge 143%, Electronic Fraud Tops List
CBN resolves 9,771 complaints in H1 2025 as electronic transaction issues and fraud cases dominate customer grievances. Total claims reach N21.42 billion with N7.17 billion refunded.
Keystone Bank Relocates Ikoyi Branch to Modern Facility
Keystone Bank has relocated its Awolowo Road branch in Ikoyi to a state-of-the-art facility at 1 Keffi/Manuwa Street, Lagos, as part of its strategy to improve customer service and operational efficiency.
LivingTrust Mortgage Bank Posts N1.01b Profit for 2025
LivingTrust Mortgage Bank Plc announces a profit after tax of N1.01 billion for 2025, an 18.3% increase from 2024, with significant growth in assets, loans, and deposits.
Parallex Bank Sponsors Youth Awards, Backs African Talent
Parallex Bank Plc has sponsored the 2025 Future Africa Leaders Awards, honoring 10 young Africans for community impact. The bank's MD emphasized Nigeria's youth potential and commitment to empowerment.
CBN's Bank Recapitalisation Drive for Stronger Financial System
The Central Bank of Nigeria's ongoing recapitalisation programme aims to create bigger, resilient banks capable of supporting Nigeria's trillion-dollar economy ambition. With 20 banks already meeting requirements, the exercise progresses toward the March
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NAFDAC Alcohol Ban Could Cost 5 Million Jobs, Says TUC
The Trade Union Congress warns NAFDAC's ban on alcohol in sachets could lead to massive job losses and investment collapse, accusing the agency of targeting indigenous producers.
EFCC: Banks, Fintechs Enabled N162bn Crypto, N18.7bn Scams
The EFCC has accused financial institutions of facilitating massive fraud schemes by neglecting KYC procedures, leading to over N18.7bn in losses for more than 900,000 Nigerians.
Labour Unions Give FG 14-Day Deadline on Health Salaries
The Trade Union Congress and Nigeria Labour Congress have issued a 14-day ultimatum to the Federal Government over non-implementation of CONHESS salary structure for health workers, threatening nationwide strike action.
Social Engineering Tops Nigerian Bank Fraud Despite 51% Loss Drop
NIBSS reveals social engineering remains Nigeria's biggest banking fraud technique, with insider abuse posing the greatest threat despite a significant 51% reduction in losses to N25.85 billion in 2025.
CBN Discloses Payments to Depositors of Failed Banks in 2025
The Central Bank of Nigeria has disclosed payments of N3.31 billion to insured depositors and significant sums to uninsured depositors of failed financial institutions during the first half of 2025.
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Zenith Bank Acquires Kenyan Lender After Meeting CBN Target
Nigeria's Zenith Bank secures regulatory approval to acquire Paramount Bank in Kenya, marking a strategic expansion into East Africa and diversifying earnings beyond Nigeria.
FCCPC Deadline for Loan Apps, 100 on Watch List
Nigeria's FCCPC extends compliance deadline to April 2026 for digital lenders, names 100 loan apps on watch list to regularise operations under new regulations.
CBN Alerts on New Banking Fraud Trends Amid Digital Payment Growth
The Central Bank of Nigeria has raised alarm over emerging fraud threats in the banking sector, calling for faster industry responses as digital transactions surge nationwide.
CBN Orders 30-Minute Fraud Response by Nigerian Banks
The Central Bank of Nigeria has directed major financial institutions including Access, Zenith, and UBA to reduce fraud response times to under 30 minutes to combat rising digital threats and enhance customer protection.
PalmPay, OPay Open Graduate Trainee Programmes
PalmPay and OPay MFB announce 2025 Graduate Trainee Programmes offering Nigerian graduates career opportunities in fintech and financial services with structured training.
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FairMoney Discloses N150B Loans, N7B Interest in 2025
FairMoney Microfinance Bank reveals it disbursed over N150 billion in loans and paid N7 billion in interest on savings in 2025, leveraging AI and machine learning to serve underserved customers.
GTBank Sets New Rate as Naira Falls Against Dollar
The Nigerian naira weakened in the official forex market on Monday due to high demand and limited supply, while GTBank adjusted its exchange rate for international payments.
Banks Start VAT Deduction on Card Fees and Electronic Charges
Nigerian banks have commenced deducting 7.5% VAT on card maintenance fees and selected electronic banking charges following NRS directive, with deposits and transfers remaining exempt.
7 Nigerian Banks Face Licence Downgrades in CBN Recapitalisation
The Central Bank of Nigeria's recapitalisation drive puts seven banks at risk of licence downgrades as they struggle to meet the new capital requirements by the fast-approaching deadline.
Banks Charge 60% on Loans, Pay 2.7% on Savings
CBN data reveals a massive gap between bank lending and deposit rates. Borrowers in key sectors face crippling costs while savers earn minimal returns. Discover the full breakdown.
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Bad Loans Rise in Nigerian Banks Despite Increased Lending
Nigerian banks face rising loan defaults from households and businesses, pushing NPL ratio to 7%. The CBN warns of risks but assures system stability. Read the full analysis.
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