The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to submit detailed cybersecurity assessments under a newly deployed supervisory framework, warning that false disclosures will attract sanctions. In a circular dated March 30 and signed by Olubunmi Ayodele-Oni, Director of the Compliance Department, the apex bank announced the rollout of its …
Federal Government bond auction attracted strong investor interest, with total subscriptions rising to about ₦931.5 billion, well above the ₦750 billion on offer in March. Data from the Debt Management Office (DMO) on Tuesday showed that the bulk of the demand came from the 9-year bond, highlighting strong investor demand for government securities. The 9-year …
As the March 31 deadline for bank recapitalisation set by the Central Bank of Nigeria (CBN) expires on Tuesday (tomorrow), a handful of banks remain under pressure to meet the requirement. The affected banks are still dealing with regulatory, legal and structural challenges that have slowed their progress, even as most of the industry has …
The Centre for the Promotion of Private Enterprise (CPPE) says Nigeria’s bank recapitalisation has strengthened the financial system but warns that without increased lending to businesses, the exercise will have little impact on the real economy. It gave the warning in a statement issued on Sunday, March 29, by its Chief Executive Officer, Muda Yusuf, …
The Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has said Nigeria’s capital market is yet to unlock its full potential, calling for urgent collaboration among regulators, investors and issuers to drive sustainable growth and global competitiveness. Speaking at the Emerging Africa Capital Limited Investor Summit & Awards, Agama said while recent reforms …
As the Central Bank of Nigeria's (CBN) recapitalisation deadline closes on March 31, 2026, Nigeria’s banking sector is entering a new phase, with attention shifting from capital raising to the real economic impact of the exercise. The recapitalisation programme, launched in March 2024 with a 24-month compliance window from April 1, 2024, is designed to …
Just six per cent of Nigerians feel financially secure, as inflation, low incomes, squeeze households, according to a Piggyvest Savings Report 2025 released recently. The report shows that low incomes, persistent inflation and rising family responsibilities continue to erode savings capacity. It paints a stark picture of financial fragility, revealing that the vast majority of …
Civic tech platform Tracka has raised the alarm over the disbursement of N129.5 billion for Nigeria’s suspended 2023 population census without any published results, accusing the National Population Commission (NPC) of failing to account for the funds and breaching the Freedom of Information (FOI) Act. BudgIT Foundation disclosed the findings in a statement on Thursday, …
The Federal Government of Nigeria plans to raise N750 billion through bond re-opening auctions scheduled for March 30, 2026. The Debt Management Office (DMO) disclosed the offer on Wednesday, noting that the settlement is set for April 1, 2026. According to DMO, the offer consists of a N250 billion 5-year bond at a 17.94 per …
The Central Bank of Nigeria (CBN) says it is set to review the Federal High Court judgement on its 2024 intervention in Union Bank of Nigeria Plc, signalling possible next steps after the ruling. In a statement issued Wednesday and signed by its acting director of corporate communications, Hakama Sidi Ali, the apex bank said …
