Banks

The Central Bank of Nigeria (CBN) has ordered banks, fintechs, and other payment service providers to disclose their ultimate beneficial owners. The regulatory measures were contained in a circular dated June 15, 2026, and signed by…
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The Livestock Productivity and Resilience Support Project (L-PRES) says it is working to bridge the financing gap in Nigeria’s livestock agribusiness sector by connecting small businesses with financial institutions through…
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Minister of the Federal Capital Territory, FCT, Nyesom Wike has challenged the Kabir Tanimu Turaki faction of the Peoples Democratic Party, PDP, daring it to open an official party secretariat in Abuja and bank account if they genuinely…
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The Central Bank of Nigeria (CBN) has announced the successful conclusion of the banking sector recapitalisation programme initiated in March 2024. This is disclosed in a statement issued on Wednesday in Abuja, jointly signed by Dr…
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Thirty banks have met the new minimum capital requirements introduced under the Central Bank of Nigeria (CBN)’s banking sector recapitalisation programme, the apex bank disclosed on Friday. The CBN said the recapitalisation exercise,…
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The Central Bank of Nigeria (CBN) says 20 Nigerian Banks have already met the new minimum capital requirement in the ongoing bank recapitalisation exercise. The Governor of the CBN, Mr Yemi Cardoso, made this known on Tuesday in Abuja…
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The Economic and Financial Crimes Commission (EFCC) has indicted a new generation bank, six Fintechs and microfinance banks in major financial scams by allowing fraudsters to launder huge sums of money. Director of Public Affairs of the…
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The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to significantly shorten their response time to electronic fraud incidents to under 30 minutes, as part of renewed efforts to curb rising losses in the…
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The Nigeria Revenue Service (NRS) has dispelled news going around on the imposition of Value-Added Tax (VAT) on banking services, including electronic money transfer, fees and commissions. Mr Dare Adekanmbi, Special Adviser on Media to Dr…
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The Federal Government has directed all banks and fintechs to collect and remit 7.5 per cent Value Added Tax on certain electronic banking services, which include point of sale (POS) transaction fees, mobile banking transfer fees. The new…
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