cbn

The Digest: The Court of Appeal in Abuja has dismissed attempts by the Central Bank of Nigeria (CBN) and Ahmadu Bello University (ABU) to stop the payment of ₦2.5 billion to 110 workers unlawfully dismissed in 1996. In a unanimous judgment, the court ordered the CBN to immediately release the...

The Digest: A new Central Bank of Nigeria (CBN) policy report identifies key regulatory challenges stifling the fintech sector. Industry stakeholders cited unclear compliance requirements, prolonged licence and product approval delays, inconsistent rule application, and poor inter-agency...

The Digest: The Central Bank of Nigeria (CBN) has upgraded the operating licenses of major fintech firms Moniepoint, OPay, and Kuda from microfinance to national microfinance bank status. According to reports from financial outlets, the announcement was made by CBN Director Yemi Solaja at a...

The Digest: Credit rating agency DataPro has projected at least three significant bank mergers by early 2026 as tier-2 lenders rush to meet the Central Bank of Nigeria's March 31 recapitalisation deadline. The agency's report highlights that while major banks like Access, Zenith, and UBA have...

The Digest: The Central Bank of Nigeria has announced plans to introduce a new regulatory framework to ease debit card issuance and improve Automated Teller Machine operations nationwide. CBN Governor Olayemi Cardoso stated the policy aims to tackle persistent cash access challenges and...

The Digest: The Central Bank of Nigeria (CBN) has directed commercial banks to respond to electronic fraud complaints within 30 minutes, as losses from e-fraud dropped by 51% in 2025 compared to the previous year. According to Leadership News, fraud losses declined from ₦52.26 billion in 2024...

The Digest: TAJBank Plc has surpassed the Central Bank of Nigeria’s N20 billion minimum capital requirement for national non-interest banks, achieving the target well ahead of the March 2026 deadline. Key Points : TAJBank now meets the revised capital base for non-interest banks. The CBN’s...

The Digest: The Central Bank of Nigeria has projected that the country's headline inflation will moderate to an average of 12.94% in 2026, driven by expected declines in the prices of fuel and food. The outlook, part of the bank's macroeconomic forecast, also anticipates economic growth of...

The Digest: The Central Bank of Nigeria (CBN) has announced a balance of payments surplus of $4.60 billion for the third quarter of 2025, with Nigeria's external reserves climbing to $42.77 billion. Key Points: The surplus, though lower than the previous quarter's $5.81 billion, marks...

The Digest: The Central Bank of Nigeria has directed banks and financial institutions to ensure seamless functionality of ATMs, POS terminals, and online platforms for foreign-issued payment cards nationwide throughout the festive season. The directive aims to improve access, security, and...

The Digest: The Central Bank of Nigeria has revoked the operating licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, citing multiple breaches of banking laws and severe capital inadequacy. Key Points: The CBN revoked the operating licences of Aso Savings and Loans...

The Digest: The Central Bank of Nigeria has directed all payment service providers to establish dual connectivity to NIBSS and UPSL within one month. According to the directive, this mandatory redundancy aims to eliminate widespread PoS transaction failures caused by single-point routing. Key...

The Digest: The House of Representatives has advanced a bill proposing a single, non-renewable six-year term for CBN leadership and banning foreign currency for domestic transactions. According to sponsors, the changes aim to modernize the apex bank, curb political interference, and unify...

The Digest: The House of Representatives has summoned Central Bank Governor Olayemi Cardoso to appear before its Public Accounts Committee. This follows a motion alleging the CBN failed to remit N16.3 trillion in operating surpluses and collected revenues to the Federal Government between 2016...

In a major move to reshape Nigeria’s foreign exchange landscape, the Central Bank of Nigeria has granted final operating licences to 82 Bureau De Change operators under its updated regulatory framework. Effective November 27, 2025, the approved list includes two Tier 1 operators and 80 Tier 2...

The Digest: The Central Bank of Nigeria is considering ending the long-standing requirement for current account holders to provide personal referees. The move aligns with modern digital verification systems like BVN and NIN, which offer more reliable identity and risk assessment. Key Points...

The Digest: The Corporate Affairs Commission has mandated that all Point-of-Sale operators in Nigeria must register their businesses by January 1, 2026, or risk having their terminals seized. Key Points: The CAC has set a January 1, 2026, deadline for all PoS operators to register their...

The Digest: The Central Bank of Nigeria has increased cash withdrawal limits, raising the daily ATM ceiling to ₦100,000 as part of a broader relaxation of restrictions on physical currency. Key Points: The CBN has raised the daily Automated Teller Machine (ATM) withdrawal limit to ₦100,000...

The Digest: The Central Bank of Nigeria has abolished cash deposit ceilings and raised weekly withdrawal limits, recalibrating the rules of financial engagement in Nigeria's cash-driven economy. This move, rooted in the storm of managing physical currency, seeks to balance cost, security, and...

The Digest: CBN Governor Olayemi Cardoso has confirmed that 16 banks have fully complied with new capital rules, a significant step in fortifying the financial foundations meant to weather economic storms and support national ambition, revealing the steady build of institutional resilience...