Zedvance Appoints Prof. Pius Deji Olanrewaju Chairman
Zedvance, a Nigerian fintech, has appointed Professor Pius Deji Olanrewaju as Chairman of the Board, effective immediately, to strengthen governance and strategic growth.
Category : Banking
Tangerine Life Pays ₦9bn in 2025 Claims, 24-Hour Settlement
Tangerine Life Insurance paid over ₦9 billion in claims in 2025, maintaining its industry-first 24-hour settlement policy for verified claims, according to its Managing Director.
Betjara 200% Casino Welcome Bonus – Boost Your First Deposit
The Betjara 200% Casino Welcome Bonus matches your first deposit by 200% up to N150,000, giving new players extra funds to explore slots, roulette, blackjack, and more.
Sycamore Reassures Customers After CBN Revokes MFB Licence
Sycamore assures customers that funds are safe and operations continue after CBN revoked the licence of its recently acquired microfinance bank in Kano.
NDIC pays insured deposits to customers of 46 failed MFBs
The NDIC has started paying insured deposits to customers of 46 microfinance banks whose licences were revoked by the CBN, effective 1 July, in line with BOFIA 2020 and NDIC Act 2023.
Sycamore CEO Reacts After CBN Revokes Microfinance Bank License
Babatunde Akin-Moses, CEO of Sycamore, assures customers funds are safe after CBN revoked its microfinance bank license, stating core operations remain unaffected.
NDIC Begins Liquidation of 46 Microfinance Banks After CBN Revokes Licences
NDIC has started liquidating 46 microfinance banks whose licences were revoked by CBN. Eligible depositors will undergo verification before payment of insured deposits. Public warned against transacting with failed banks.
List of 46 Microfinance Banks Whose Licenses CBN Revoked Shared
A Nigerian man shared the full list of 46 microfinance banks whose licenses were revoked by the Central Bank of Nigeria, advising Nigerians to verify their status and stay informed.
ProvidusBank, Unity Bank Merge, Rebrand as ProvidusUnity Bank
Providus Bank and Unity Bank have merged into ProvidusUnity Bank, updating social media accounts. The merger aims to create a robust financial institution with uninterrupted services.
CBN Revokes Licences of 46 Microfinance Banks Across Nigeria
The Central Bank of Nigeria revokes licences of 46 microfinance banks for regulatory breaches, effective July 1, 2026, to strengthen the financial system and protect depositors.
ACAMB Urges Banks to Deepen QR Code Payment Adoption
The Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) has urged banks to deepen digital payment adoption, including QR codes, following a visit to NIBSS in Lagos.
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OPay launches Emergency Lock and Safety PIN for Nigerian users
OPay introduces Emergency Lock and Safety PIN to help Nigerians protect funds instantly during security threats, with a 24-hour freeze that cannot be reversed.
Providus, Unity Banks Merge to Form ProvidusUnity Bank
Providus Bank and Unity Bank have officially merged to form ProvidusUnity Bank, aiming to deepen financial inclusion and support Nigeria's economic growth with enhanced services.
Access Bank Launches AutoFest to Ease Car Ownership
Access Bank's AutoFest scheme covers up to 90% of vehicle costs with 10% equity, targeting Nigeria's soaring car prices and low new-car sales.
Jaiz Bank Regulatory Penalties Surge to N530.9 Million
Jaiz Bank's regulatory penalties surged to N530.9 million in 2025, a 1,220% increase from N40.2 million in 2024, driven by new CBN sanctions.
Zenith Bank Opens New Branch in Osubi, Delta State
Zenith Bank has opened a new branch in Osubi, Delta State, expanding its network to better serve customers and support economic growth in the region.
CBN Freezes Accounts of Six Terrorism Financing Suspects
The Central Bank of Nigeria has ordered banks to freeze accounts linked to six individuals and companies suspected of financing terrorism, following a court order.
Providus, Unity Bank to Begin Joint Operations After Merger
Providus Bank and Unity Bank have received regulatory approval to merge, with joint operations starting immediately. The merger aims to strengthen the combined entity's financial standing and market reach.
Naira Gains 0.03% Against US Dollar at Official Market
The naira appreciated by 0.03% against the US dollar at the official NAFEX window on Friday, June 26, 2026, trading at N1,380.93/$1, a gain of 50 kobo from the previous session.
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FG admits ₦70,000 minimum wage no longer enough, signals review
The Federal Government acknowledges the ₦70,000 minimum wage is insufficient due to inflation, signalling a fresh review. Chief of Staff Femi Gbajabiamila says the government will partner with labour in upcoming negotiations.
CBN Warns Against Naira Abuse, Replacement Costs Rise
CBN warns against naira abuse and mutilation, citing rising replacement costs. Governor Cardoso launches Naira Ambassadors Club to educate students on proper currency handling.
CBN Orders Freeze on Assets of 6 Nigerians, 4 BDCs Over Terror
The CBN has directed all banks to freeze assets of six individuals and four BDCs designated for terrorism financing under NIGSAC and OFAC sanctions lists.
SEC Cracks Down on Dangote Refinery IPO Promotions, Orders Refund
The SEC has issued a cease and desist against unauthorised promotions of a purported Dangote Refinery IPO, ordering capital market operators to refund all collected deposits within 24 hours.
Xpress Payment plans AI, IoT push after trillions in transactions
Xpress Payment Solutions plans to expand AI and IoT use after processing trillions of naira in transactions over a decade, its CEO announced at a 10th anniversary lecture in Lagos.
Nigerians Top Applicants in Saint Lucia Citizenship Programme
75 Nigerians were screened for Saint Lucia's Citizenship by Investment Programme in 2023/2024, ranking seventh globally and making Nigeria the only African country among top applicants.
CREDICORP Reaches 227,000 Nigerians, Expands Mobility
CREDICORP has enabled 227,000 Nigerians to access consumer credit, expanding its mobility programme with three-wheelers in Ijebu-Ode, Ogun State, in partnership with IDIPR and Imowo Microfinance Bank.
inDrive Opens Applications for Chief Wahala Officer Role
inDrive invites Lagos residents to apply for Chief Wahala Officer, highlighting transport challenges and rewarding resilience with cash prizes.
Zulum Commissions IDP Houses, Solar Grid in Illela
Borno Governor Babagana Zulum commissions 100 IDP housing units, solar mini-grid, and Climate Peace Hubs in Sokoto's Illela council, lauding Governor Aliyu's performance.
Femi Otedola Boosts First HoldCo Stake with N29.6bn Buy
Femi Otedola acquires 680.8 million shares in First HoldCo via private placement at N44 per share, raising his ownership to 20.42% and strengthening control.
CBN Report Reveals N134bn Lost to Banking Fraud
Nigeria lost N134.48bn to banking fraud between 2020 and 2025, per CBN report. Losses peaked in 2024 at N52.26bn due to a major internal case, then dropped in 2025 amid stricter controls.
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