Bank Account Charges Hit N209bn in Q1 2026
Nigerian banks earned N209.18 billion from account maintenance fees in Q1 2026, a 14% rise year-on-year. Zenith, Access, GTCO, First Holdco, and UBA led the fees.
Category : Banking
CBN Unveils New Forex Rules: 7 Key Changes in 2026
The Central Bank of Nigeria has released the 2026 Foreign Exchange Manual with updated rules. Key changes include retained $10,000 cash limit, digital PTA payments, and stricter penalties.
Dangote Firms Q1 Profit Up 52% to N456.68 Billion
Dangote Cement, Sugar Refinery, and NASCON achieved N456.68 billion profit before tax in Q1 2026, a 52% rise from N300.61 billion in Q1 2025, driven by revenue growth and cost efficiency.
Ewenla Wins African HMO CEO Leadership Award 2026
Lekan Ewenla, MD of Ultimate Health, wins the 2026 African HMO CEO Leadership Award for innovation and customer satisfaction in health insurance.
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Nigerian Breweries Appoints Nkechi Runsewe HR Director (04.06.2026)
Nigerian Breweries Plc has appointed Nkechi Runsewe as its new human resources director, effective August 1, 2026, replacing Grace Omo-Lamai who retires after nearly a decade.
Eterna Appoints Dr Jude Nwaulune as New CEO
Eterna Plc appoints Dr Jude Nwaulune as CEO, effective May 14, 2026. He succeeds Olumide Adeosun, bringing over 20 years of experience in Nigeria's downstream energy sector.
SanlamAllianz Hosts Third Children's Day Funfair in PH
SanlamAllianz Nigeria held its third annual Children's Day Funfair in Port Harcourt, celebrating education policyholders' children with fun and learning activities.
CBN Approves Abbey Mortgage Bank for Commercial Banking
The Central Bank of Nigeria has granted Abbey Mortgage Bank Plc approval to transition into a commercial bank, expanding services beyond mortgage financing.
Banks Raise Dollar Limits on Naira Cards as FX Eases
GTBank, UBA, FirstBank, and others increase international spending limits on naira debit cards as improved FX liquidity boosts confidence in Nigeria's financial system.
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CBN Relaxes Dollar Account Rules, Grants Unrestricted FX Access
The Central Bank of Nigeria has unveiled a new FX framework granting unrestricted access to domiciliary accounts for individuals, while tightening compliance for exporters to boost liquidity and transparency.
Shettima Urges States to Fast-Track Reforms for $750m SABER
Vice President Kashim Shettima calls on state governments to accelerate business reforms to maximize the $750m World Bank SABER programme, aiming to boost investment and economic growth.
Tinubu Hails N128bn Mortgage for 1,859 Families
President Tinubu applauds N128 billion mortgage disbursement to 1,859 families in 25 states under the Renewed Hope Agenda, boosting affordable housing finance.
Dash Quest: Earn ₦30,000 by Banking Daily with Dash Microfinance Bank
Dash Microfinance Bank launches Dash Quest, rewarding users with ₦30,000 for daily transactions. Sign up, transact, and unlock cash rewards seamlessly.
CBN Launches PSV 2028 for 95% Financial Inclusion
CBN launched Nigeria Payment System Vision 2028 targeting 95% financial inclusion, 50 million new banked adults, reduced cash usage, and enhanced digital payments infrastructure.
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CBN Reshuffles Four Deputy Governors in New Redeployment
The Central Bank of Nigeria has announced a reshuffle of four deputy governors, effective June 1, as part of reforms to strengthen the financial sector and improve regulatory effectiveness.
CBN Gives 3 Banks Extra 3 Weeks for Recapitalisation
The CBN has granted Union Bank, Polaris Bank, and Keystone Bank an additional three weeks to meet recapitalisation requirements due to legal and regulatory challenges.
OPay: Driving Financial Inclusion and Creating Jobs in Nigeria
OPay's fintech revolution is reshaping Nigeria's financial landscape, serving over 45 million users and creating jobs while promoting cashless transactions nationwide.
Flutterwave Launches Global Employee Relief Package
Flutterwave announces one-time economic relief for all employees, promotions for 25% of staff, cost-of-living adjustments, and tax support in Nigeria amid rising global costs.
Unity Bank and Providus Bank Merger: What You Need to Know
The Unity Bank and Providus Bank merger is approved. Learn how it affects your deposits, ATM cards, loans, and banking services. Your money is safe.
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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.
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.
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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.
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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.
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