…in the Nigerian Foreign Exchange Market, NFEM. Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the market rose slightly to N1,371 per dollar from N1,370 per dollar last weekend, indicating N1 depreciation for the naira. Consequently, the margin between the parallel and official…

…12-year tenure for non-executive directors as stipulated by the Central Bank of Nigeria (CBN). The bank disclosed the development in a statement on Monday, stating that its Board of Directors accepted Elumelu’s retirement at a meeting held on July 6. UBA also announced the appointment of Mr. Emmanuel Nnorom, a non-exec…

…across its network. His retirement comes as Nigerian banks continue to align with the CBN's corporate governance guidelines, which impose a maximum tenure of 12 years for non-executive directors to strengthen board independence and governance standards." Reacting, Elumelu on his Facebook acknowledged his years of servi…

…has clarified that no account was successfully opened with the Central Bank of Nigeria (CBN) for the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PFIPC), stating that no public funds have been released to the body despite its allocation in the 2026 Appropriation Act. The D…

…who allegedly secured office space, had government staff assigned to him, operated CBN-registered accounts and conducted official business with agencies including the EFCC and other security institutions despite having no lawful authority. It said the Presidency’s explanation only raises more questions. “How did an all…

…in the names of fictitious government agencies; that he had fraudulently opened a CBN account by deceiving the Accountant-General's office; and that the key witness who allegedly procured his forged appointment letter died in a hotel fire five days before Adeniyi's own arrest on October 27, 2025. But human rights lawye…

…in the Nigerian Foreign Exchange Market, NFEM . Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the market fell to N1,369 per dollar from N1,376 per dollar on Tuesday, indicating N7 appreciation for the naira. Consequently, the margin between the parallel and official markets wi…

According to the CBN, the affected microfinance banks failed to satisfy the minimum conditions required to retain their operating licences. The regulator stated that the revocation became necessary due to "one or more" of several infractions, including insufficient assets to meet liabilities, closure of operations with…

…had also secured a microfinance banking licence from the Central Bank of Nigeria (CBN), which could enable the fintech to offer tokenised investment products directly. "Every consumer fintech is sitting on idle balances that earn nothing for the customer and little for the business-especially in emerging markets," Nick…

…and operate within strict prudential limits set by the Central Bank of Nigeria (CBN). Deposits change the economics Payment businesses make money when customers move money. Banks make money when customers leave money behind. Deposits become a permanent funding base. Fintechs can earn a transfer fee on customer accounts…

…to Nine Exchange Bureau De Change Limited Abbal Bako & Sons Bureau De Change Limited The CBN directed financial institutions to "identify and immediately freeze, without prior notice, all funds, assets, and other economic resources belonging to, owned, held, or controlled, directly or indirectly, by the designated pers…

…regulatory imbalance. Get up to speed The debate comes against the backdrop of existing CBN regulations governing microfinance banks. A March 2020 CBN circular requires all MFBs to submit audited financial statements and abridged accounts to the Director of the Other Financial Institutions Supervision Department (OFISD…

…- banks were already priced for significant growth entering the year - and partly in the CBN's new regulatory policy outlook that has triggered June's correction coupled with profit-taking. Value-oriented banking stocks and high-dividend payers (represented by NGX AFR Bank Value Index at +41.65% and NGX AFR Dividend Yi…

…control a business becomes significantly more difficult. This is likely one reason the CBN has introduced the new disclosure requirements, and the circular itself provides important clues. The regulator referenced ownership transparency, market concentration, systemic importance, operational dependence, and localisatio…

…What you should know Nairametrics earlier reported that the Central Bank of Nigeria (CBN) has ordered banks, fintech companies, mobile money operators, and other payment service providers to keep all payment transaction data generated in Nigeria within the country. The directive was issued in a circular released on Jun…

The naira ended the week weaker across foreign exchange (FX) market segments amid slowing market liquidity, despite Nigeria’s external reserves

…several central banks have already begun easing monetary policy and suggested that the CBN could eventually follow suit. "If the CBN does not reduce rates at its next meeting, it may decide to maintain them before considering a cut subsequently. Once the CBN begins lowering rates, commercial banks are expected to adjus…

…and charging fees for support, tech, and legal services across their banking franchises. CBN's new draft tightens restrictions on inter-group transactions and closes loopholes around shared services to prevent liquidity from siphoning away from core banking operations. This upheaval is damaging the business models of d…

…foreign exchange market reforms and improved external inflows into the economy. The CBN Governor Olayemi Cardoso, had, in May, said: "This strong buffer continues to reinforce investor confidence in the Nigerian economy and support exchange rate stability." Expert's view Analysts believe the higher reserve level could…