Nigeria’s banking sector has raised a combined ₦3.85 trillion in fresh capital as of March 12, 2026, according to the latest update from the Proshare Nigeria Banking Sector Recapitalisation Compliance Tracker. The figure underscores the scale of the industry’s push to meet new regulatory capital thresholds ahead of the Central Bank of Nigeria’s (CBN) March …
The Central Bank of Nigeria (CBN) has directed banks to deny new credit and certain banking services to large borrowers with non-performing loans, as part of efforts to strengthen credit discipline and protect financial system stability. In a circular dated March 12, 2026 and addressed to all banks, CBN said the directive was issued to …
The Central Bank of Nigeria (CBN) has introduced new operational requirements for instant payments and stricter rules governing Bank Verification Number (BVN) operations as part of measures to strengthen fraud detection and ensure financial system stability. In a circular issued on Thursday and signed by the Director of the Payments System Policy Department, Musa Jimoh, …
President Bola Ahmed Tinubu has approved the nomination of Lamido Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN), subject to Senate confirmation. The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this in a statement on Wednesday, March 11. He stated that the appointment is in accordance with …
The Central Bank of Nigeria (CBN) has given deposit money banks an 18-month deadline to fully comply with new baseline standards. The baseline standards require the deployment of automated anti-money laundering (AML) solutions aimed at strengthening the fight against financial crimes in the country. The CBN has the directive in a circular dated March 10 …
The Securities and Exchange Commission (SEC) on Tuesday launched its inaugural Regulator/Fintech Clinic to close regulatory gaps. The initiative is aimed at improving engagement with Nigeria’s fast-growing financial technology (fintech) sector and strengthening regulatory oversight. It is designed to align innovation with regulatory compliance while ensuring stronger investor protection across the country’s digital finance ecosystem. …
Nigeria recorded a higher trade surplus in the fourth quarter of 2025 despite a decline in total merchandise trade and exports, highlighting the country’s continued positive trade balance even as crude oil earnings weakened. The National Bureau of Statistics (NBS) disclosed this in its 'Foreign Trade in Goods Statistics (Q4 2025)', released on Tuesday. The …
The Nigerian government has called on citizens to share their views on possible age limits and other measures to protect children on social media platforms. The Minister of Communications, Innovation and Digital Economy, Bosun Tijani, announced the initiative on Tuesday. He called on parents, educators, young people and digital professionals to participate in a public …
A coalition of civil society organisations (CSOs) has petitioned the Police Service Commission (PSC) to investigate the Commissioner of Police in Lagos State, Jimoh Moshood, over allegations of abduction, torture and unlawful detention of activist Hassan Taiwo Soweto during a protest in January. The petition, dated March 9, 2026, was signed by 15 organisations, including …
Nigeria could stand to gain from the sharp surge in global oil prices triggered by escalating conflict involving Israel, the United States and Iran, according to senior market analyst Matthew Anthony. Oil prices spiked to just above $120 over the weekend as the conflict intensified and key energy installations were targeted, tightening supply and pushing …
