CBN

According to the latest Money and Credit Statistics released by the Central Bank of Nigeria (CBN), Nigerians held N5.19 trillion outside the banking system as of May 2026. This underscores the persistent preference for cash…

A major regulatory overhaul targeting Nigeria’s financial holding companies like Access Holdings Plc, Guaranty Trust Holding Company Plc (GTCO), First Bank Nigeria Holdings Plc, among others, is set to inflate operational…

Recent research has revealed that Nigerian Banks accumulated N224.69 billion in revenue from electronic banking and ATM-related charges in the first quarter of 2026, a significant surge in income from digital services. This figure,…

The Nigerian Communications Commission (NCC) and Central Bank of Nigeria (CBN) have signed a Memorandum of Understanding for the creation of a fraud detection portal. The Telecom Identity Risk Management System (TIRMS) Portal was…

The Nigeria Deposit Insurance Corporation (NDIC) has launched the final phase of liquidating 89 failed Microfinance Banks (MFBs) and one Primary Mortgage Bank (PMB), signaling closure to a key regulatory cleanup in Nigeria's…

In a landmark regulatory move meant to reshape Nigeria’s remittance landscape, the Central Bank of Nigeria (CBN) has issued a directive banning the payment of diaspora remittances in foreign currencies among financial…

The Central Bank of Nigeria (CBN) has introduced stricter rules guiding the use and management of the Bank Verification Number (BVN) as part of efforts to reduce fraudulent transactions within the financial system. The revised…

The Central Bank of Nigeria (CBN) has reported that 30 out of the 33 licensed Deposit Money Banks (DMBs) have met the minimum capital requirements, up from 20 in its prior disclosure on February 23, 2026. This 10-bank leap…

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso announced on Tuesday, February 24, 2026, that 20 banks have fully met the new minimum capital requirements, raising a collective N4.05 trillion ahead of the…

The Bank of Industry (BOI) has received approval from the Central Bank of Nigeria (CBN) to operate as a non-interest financial institution. This landmark development marks a new era in Nigeria’s fast-evolving banking landscape. …