…over the last decade, attracting investment and creating new alternatives to traditional banking and financial services. However, rapid growth has also brought increased scrutiny from customers and regulators. The Central Bank of Nigeria and other regulators have continued to strengthen oversight across different parts…

…still sitting on huge liquidityDespite the aggressive mop-up, liquidity in the banking system remained substantial.Opening balances held by banks and discount houses increased from N169.55 billion on August 26 to N223.89 billion on August 27 before easing to N194.76 billion on August 28.The CBN's Standing Deposit Facil…

…country and data source. That problem is now forcing a rethink inside parts of Nigeria’s banking industry. Increasingly, banks are moving beyond traditional lending and into something closer to ecosystem development — combining finance, technology, climate intelligence and startup incubation to solve structural problem…

…other items. It was later discovered that the hoodlums exploited the victim's abandoned banking details to demand ransom of ten million, five hundred thousand naira from another woman abducted from Shagari, Sokoto State, while she was travelling to visit her husband in Kontagora area of Niger State. "On receipt of the…

…serving as senator representing Kaduna Central and chairman of the Senate Committee on Banking, Senator Uba Sani played a leading role in the 9th Senate’s approval of the $350 million World Bank loan for Kaduna State, after the 8th Senate had rejected it. The PDP chairman claimed that Uba Sani had said, “I can vouch fo…

…Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.President Bola Ahmed Tinubu has directed the Nigeria Liquefied Natural Gas Limited (NLNG) to increase the domestic use of gas, reduce gas flaring and ensure that the country’s vast gas reserves translate into more…

…apps to Nigerian money mules. “Terrorist facilitators use phone numbers for mobile banking or account alerts that are not registered to the account holder or the true beneficiary,” the report stated. The NFIU said students, small-business owners and relatives were among those used as money mules, while terrorists also…

…were opening bank accounts in women’s names as well as using phone numbers for mobile banking or account alerts that are not registered to the account holder or the true beneficiary. The disclosures are contained in the NFIU’s 2025 Annual Report, obtained by The PUNCH from a top official. According to the report, the c…

…challenges that reached the Supreme Court.Doyle reserved particular criticism for those banking on the same strategy ahead of a fifth contest, describing them as "overly optimistic pessimists" who expect a different outcome from an approach that has consistently failed.In his words:"The obsession with Asiwaju's educati…

…Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.Petrol depot prices increased in most major Nigerian markets between Monday, August 17 and Friday, August 21, 2026, as rising international crude prices and supply concerns linked to the Strait of Hormuz put press…

Cybercriminals are impersonating major brands to steal personal and banking information from victims across AfricaOver 100 fake websites linked to the malware campaign have been identified since August 2025Users urged to avoid downloading apps from unsolicited messages to protect against sophisticated cyber scamsPAY AT…

…but total outflows dropped much more sharply to $2.86 billion from $5.54 billion.Banking-system inflows fell to $1.83 billion, while autonomous inflows stood at $6.88 billion. On the outflow side, banking-system payments dropped to $2 billion from $4.12 billion, according to a report by BusinessDay.Reserves remain stro…

…and increased transparency of the foreign exchange market, recapitalisation of the banking sector, introduction of the non-resident Bank Verification Number (BVN), the B-Match platform for foreign exchange trading and the Nigeria Payments System Vision 2028. She also cited the implementation of a 75 per cent Cash Reser…

…investment, and the economy for over a decade.Standard Bank Group, Africa’s biggest banking group by assets, is considering acquiring a stake in Nigerian fintech company OPay as the digital payments giant prepares for a potential listing in the United States.The proposed investment would give the South African banking…

The Nigerian equities market extended its bearish run on Tuesday as renewed sell-offs in banking stocks dragged the benchmark index lower, wiping N544.48 billion from investors’ wealth. The Nigerian Exchange All-Share Index declined by 0.35 per cent to close at 241,611.23 points, moderating its year-to-date return to 5…

The Labour Party (LP) has said it is banking on its extensive grassroots structure and its links with organised labour to deliver its candidates in the 2027 general elections. The National Publicity Secretary of the party, Mr Ken Asogwa, stated this in an interview in Abuja on Tuesday, saying the party was fully prepar…

…market capitalisation of the equities market. The 24 companies, drawn largely from the banking, consumer goods, industrial goods and energy sectors, have a combined market capitalisation of N117.01 trillion, underscoring the high concentration of value among a relatively small number of companies on the NGX. The market…

Nigeria’s top policymakers, financial regulators, banking executives, fintech innovators, economists and capital market operators will gather in Lagos on September 19 and 20 for the Finance Correspondents Association of Nigeria’s (FICAN) 36th Anniversary Annual Conference. The event, themed “Building on the Gains of Re…

…as the Central Bank of Nigeria (CBN) tightens its rules around ATM withdrawals and agent banking, even as fresh data show PoS transaction volumes falling by almost 20 per cent.The development comes amid a broader review of banking charges designed to reflect rising operating costs while reshaping how Nigerians access c…

…of four customers through an unauthorised transaction on its Access SME internet banking platform. The incident, according to court documents, was discovered on August 12, 2026, after the bank noticed suspicious transactions involving MIB TXN Bullion, Aba Branch; AIICO General Insurance Company Limited; Apogee Engineer…

…Used and refurbished phone dealersSmartphones have become essential tools for banking, education, communication, work and online commerce. But exchange-rate pressures have made new devices increasingly expensive.That has strengthened demand for fairly used and refurbished phones. Dealers can serve consumers who need re…

…financed, authorised and distributed the funds, and preserve critical evidence including banking and mobile-money records, telecoms data, CCTV footage and polling-unit records. The anti-corruption organisation further demanded prompt arrest and prosecution of persons suspected of electoral and corruption offences. Acco…

…facilitated the alleged conduct.” It also called for the preservation and examination of banking and mobile-money records, telecommunications data, CCTV footage, polling-unit records and other documentary and digital evidence. SERAP added, “The legitimacy and credibility of the Osun State election result ultimately dep…

…Thursday, August 26.Data showed that the market downturn was driven by profit-taking in banking, consumer goods, industrial, and oil & gas stocks, despite mild gains recorded in the insurance sector.The market’s year-to-date return has dropped to 35.56% while the week’s return after 4 days of trading is in the red zone…

…Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.The Debt Management Office (DMO), on behalf of the Federal Government, has announced the reopening of three Federal Government of Nigeria (FGN) bonds worth a combined N1.1 trillion for subscription.According to a