FirstHoldCo Closes N45b Private Placement, Boosts FirstBank Capital
FirstHoldCo Plc completes N45 billion second tranche of N350 billion private placement, injecting funds into FirstBank to meet CBN capital requirements and strengthen balance sheet.
Category : Banking
Flutterwave Gets Ripple Investment, Now Worth $3.3 Billion
Flutterwave receives strategic investment from Ripple, raising its valuation to $3.3 billion. The partnership aims to boost cross-border payments in Africa.
Saudi Arabia Unveils New Kaaba Kiswa for Islamic New Year
Saudi Arabia unveils the new Kaaba Kiswa costing SAR 25 million, as Kano governor urges moral rebirth during the Islamic New Year.
CBN Unveils Tough New Rules to Limit OPay, Moniepoint, Others
The Central Bank of Nigeria has introduced new regulations to prevent any single bank or fintech from dominating the digital payments market, with strict market share limits and compliance requirements.
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CBN Mandates UBO Disclosure for Digital Payment Firms
The Central Bank of Nigeria has directed all financial institutions with digital payment operations to disclose the Ultimate Beneficial Ownership of significant shareholders to promote transparency and reduce market concentration risks.
FIFA World Cup 2026: Biggest Tournament, Bigger Excitement
The FIFA World Cup 2026 is the biggest yet with 48 teams and three hosts. Malaysians can enjoy live streaming, high stakes, and a Rolex giveaway on Winbox.
Ripple Invests in Flutterwave at $3.2B for Payments
Ripple invests in Flutterwave at a $3.2 billion valuation to enhance cross-border payments using blockchain technology and RLUSD stablecoin for faster, cheaper transactions.
CMSA Urges Awareness of Capital Market Dispute Resolution
The Capital Market Solicitors Association calls for greater awareness of dispute resolution mechanisms in Nigeria's capital market, highlighting SEC and IST roles for investor redress.
CBN Launches NOFR to Boost Investor Confidence
The Central Bank of Nigeria has launched the Nigerian Overnight Financing Rate (NOFR), a transaction-based benchmark to enhance transparency, strengthen monetary policy, and align with global best practices.
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Access Holdings Names New CEO for Pension Subsidiary
Access Holdings appoints Sa’adu Jijji as CEO of Access ARM Pensions, a seasoned executive with over 20 years in financial services and pension management.
CBN Orders Local Payment Data Storage by 2027
The Central Bank of Nigeria has directed all payment service providers to store transaction data locally from January 1, 2027, to enhance data security and regulatory oversight.
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Banks earn ₦225bn from ATM, e-banking charges in Q1 2026
Nigerian banks generated ₦224.69 billion from ATM, card and e-banking fees in Q1 2026, up 12.56% year-on-year, sparking customer outrage over high transaction costs.
Nigerians Lead $3.18 Billion Airtime Credit Borrowing
Mobile subscribers in Nigeria and other emerging markets borrowed $3.18 billion in airtime on credit in 2025, with Africa accounting for over 94% of the total, according to fintech firm Optasia.
Accion MFB 2025 Performance Driven by Asset Quality
Accion Microfinance Bank reported improved asset quality and digital banking expansion as key drivers of its 2025 performance, with loan growth, deposit increases, and branch network expansion.
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Insurers Told to Tap 500m Mobile Users at Cairo Conference
The 52nd AIO Conference in Cairo urged Nigerian insurers to leverage Africa's 500 million mobile subscribers to boost insurance penetration and premium growth via digital adoption.
Lagos Certifies Homeowners, Commits to Affordable Mortgage Scheme
Lagos State Mortgage Board reaffirms commitment to affordable housing through LagosHOMS, certifying beneficiaries and expanding homeownership opportunities for low-income earners.
FG May Pay Salaries Through eNaira as CBN Rolls Out New Policies
The Federal Government may soon pay salaries and pensions via eNaira as the CBN unveils a new roadmap to boost digital currency adoption in Nigeria.
UK Army Reveals Salaries for Chaplains, Teachers, Legal Officers
The UK Army has published minimum annual salaries for chaplains, legal officers, and Educational and Training Service officers, with chaplains earning the highest at £60,236.
Access Holdings Targets Standard Bank After 20 Deals
Access Holdings chairman says the group has completed its acquisition phase and now aims to compete with Africa's largest bank, Standard Bank, focusing on investor returns.
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Wema Bank Rewards 273 Customers with ₦17.96m in First Month
Wema Bank disbursed ₦17.96 million to 273 customers in the first month of its '5 for 5 Rewards' campaign, promoting financial inclusion and loyalty across youth, women, and mass market segments.
Access Holdings Appoints New CEOs for Pension and Lending Units
Access Holdings Plc appoints Sa’adu Jijji as CEO of Access ARM Pensions and Abiodun Adigun as MD of Oxygen X Finance, with regulatory approvals secured.
CBN Governor Cardoso Wins 2026 Central Bank of Year Award
Central Bank of Nigeria Governor Olayemi Cardoso received the 2026 Central Banking Central Bank of the Year Award in London, dedicating it to CBN staff and highlighting reforms.
Access Holdings Eyes Dividend Resumption After 2025 Pause
Access Holdings chairman Aigboje Aig-Imoukhuede says the bank is working to meet CBN conditions to resume dividend payments, after pausing for 2025 despite record N743 billion profit.
Cross River Gov Rolls Out 100 EVs for Democracy Day
Cross River Governor Bassey Otu unveiled 100 electric vehicles for permanent secretaries and empowerment in Calabar on Democracy Day, promoting clean energy and reducing transport costs.
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MTN MoMo in Nigeria to Become Super App: Key Details
MTN partners with Ant International to transform MoMo into a super app in Nigeria next quarter, integrating payments, savings, and lifestyle services.
CBN Bans Banks, Fintechs From Lending to Related Firms Without Approval
The Central Bank of Nigeria has prohibited closely linked financial institutions from lending to or guaranteeing each other without prior written approval, aiming to reduce systemic risks and strengthen governance.
CBN proposes stricter rules for banks, affiliated firms
The Central Bank of Nigeria has issued draft guidelines to tighten controls on transactions between banks and their affiliated entities to protect depositors and reduce financial risks.
Canada Extends Visa Processing Times for Nigerian Applicants
Canada's IRCC reports longer processing times for Nigerian visitor visas (51 days) and work permits (17 weeks) in June 2026, while some streams like super visas improve.
Airtime Lending: Ownership of 9 New Operators Raises Questions
As Nigeria's airtime lending market opens up, questions about who owns the nine new operators emerge, sparking calls for transparency and scrutiny of monopoly claims.
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Kasapreko IPO Raises N208.54bn, Oversubscribed by 146%
Kasapreko Plc, maker of Alomo Bitters, attracted N208.54 billion in subscriptions for its IPO, oversubscribing by 146%. Shares to trade June 15, 2026.
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