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.
Category : Banking
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.
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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.
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.
NPF Pensions Digital Platform for Police Officers
NPF Pensions unveils a digital assistant for police, attracting 30,000 officers. The platform offers RSA services via WhatsApp, aiming to overcome geographical barriers.
FCMB Group Net Profit Soars 147.7% to N177.3 Billion
FCMB Group reports 147.7% net profit surge to N177.3 billion, driven by strong interest income growth. Dividend proposed at N0.35 per share.
FCMB Appoints Bismarck Rewane as Board Chairman
FCMB appoints Bismarck Rewane as board chairman and non-executive director, approved by CBN. Rewane brings over 40 years of experience in finance and economics.
inDrive Names Abhey Lamba Chief Financial Officer
inDrive has appointed Abhey Lamba as CFO to lead global finance, including planning, reporting, tax, and investor relations, as the company expands across 48 countries.
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IMF Warns Tinubu Over $5bn Loan Plan from Abu Dhabi
The IMF has cautioned Nigeria against a $5 billion financing deal with First Abu Dhabi Bank, citing opacity and financial risks. The Fund suggests alternatives like Eurobonds.
CBN Releases New Exchange Rate as Naira Strengthens
The naira strengthened against major currencies amid improved liquidity and investor confidence, with CBN releasing new rates. Analysts predict sustained momentum.
IMF: Nigerian Banks Slow to Cut Lending Rates
The IMF reports that Nigerian banks rapidly increase lending rates during tightening but are slow to reduce them, highlighting asymmetric monetary policy transmission.
Airtime Credit Market: Regulatory Turmoil and Banking Competition
Nigeria's airtime lending market, valued at N400 billion, faces regulatory shifts, legal battles, and bank incursions, impacting millions of subscribers.
Tony Elumelu Named Seplat Chairman, Effiong Okon CEO
Tony Elumelu will become Seplat Energy Chairman in January 2027, succeeding Udoma Udo Udoma. Effiong Okon appointed CEO from August 2026.
Enugu Launches Digitised Land Document System
Enugu State Housing Development Corporation launches a fully digitised land transaction system, enhancing transparency, efficiency, and accountability under Governor Peter Mbah's reform agenda.
Grace Oyeniyi Elected ALAN Vice President
Grace Oyeniyi, HR Director at Bloomfield Law Practice, has been elected Vice President of the Association of Law Firm Administrators of Nigeria (ALAN), recognizing her contributions to legal practice management.
US Soldier Explains How Nigerians Can Join the US Army
A US soldier explains that Nigerians must be physically present in the United States to join the US Army, warning against online scams.
Zedvance Commits 100% Loans to SMEs
Zedvance's parent company Zedcrest shifts focus to SMEs, pledging 100% of its loan portfolio to support mid-market enterprises and ecosystem enablers.
Nestoil Lenders Clarify Supreme Court Ruling on Debt
Nestoil Lenders refute false claims that Supreme Court ruling absolves Nestoil of $1.08 billion debt, emphasizing recovery actions continue.
United Capital Gets Licences in Ethiopia, Rwanda
United Capital becomes first foreign firm licensed for investment banking in Ethiopia, also securing regulatory approval in Rwanda, boosting its continental expansion.
Accion MFB Repays N2 Billion Commercial Paper
Accion Microfinance Bank repays N2 billion Series 1 Commercial Paper, reinforcing its credibility in Nigeria's debt capital market and commitment to financial inclusion.
CIPM Re-elects President Ahmed Gobir, Vows Professionalism
The Chartered Institute of Personnel Management of Nigeria re-elects Ahmed Gobir as president, highlighting membership growth, digital transformation, and global partnerships.
New Zealand New Work Visa Options for International Graduates
New Zealand introduces a six-month Short-term Graduate Work Visa for international graduates, including Nigerians, effective November 2026, with specific conditions.
Nigeria Private Sector Credit Hits N700.31 Trillion in 2025
Nigerian banks' credit to private sector rose to N700.31 trillion in 2025, up 1.5% from 2024, with oil and gas leading, manufacturing dropping, and financial services surging.
Nigerians in US Face Tougher Green Card Rules Under New DHS Policy
The DHS issued a stricter policy memo on May 21, 2026, making US Green Card applications harder for Nigerians. Applicants must prove extraordinary circumstances.
CBN Tightens FX Rules, Imposes N100m Fine on Banks
The CBN has revised its foreign exchange framework, introducing a N100 million penalty for banks processing FX transactions without proper documentation to boost transparency.
MTN Nigeria remits N878.7bn in taxes, boosts revenue
MTN Nigeria paid N878.7 billion in taxes and levies in 2025, a 15% increase, supporting government fiscal reform and non-oil revenue growth.
Top 10 Longest-Standing Banks in Nigeria
Discover Nigeria's top 10 oldest banks, including First Bank and Union Bank, which have survived over 100 years. Learn their histories and transformations.
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MTN CEO Karl Toriola's 6 Tips to Stretch Your Data
MTN CEO Karl Toriola offers six practical tips to help Nigerians optimise mobile data usage, reduce waste, and make internet subscriptions last longer.
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