First Bank of Nigeria Limited has confirmed a service disruption affecting its key digital banking channels, making it unable for customers to access the platforms and complete transactions. The oldest Nigerian bank disclosed this in a circular on Thursday, September 4. It said the downtime is currently affecting transactions carried out on its FirstMobile, FirstOnline, …
The Securities and Exchange Commission (SEC) has approved a new cycle to be allowed for settlement of capital market transactions in two days (T+2). Chief Executive Officer (CEO) of the Central Securities Clearing System (CSCS), Haruna Jalo-Waziri, said on Wednesday, September 3. He noted that following the SEC approval, the Nigerian capital market will migrate …
The Central Bank of Nigeria (CBN) has recently implemented several key reforms that are significantly impacting the country’s economy. Among the most notable changes, monthly diaspora remittances have surged to $600 million, marking a 200% increase from previous months. This boost in remittances is attributed to reforms such as the Non-Resident Bank Verification Number initiative …
Following a recent Court-ordered Meeting, shareholders are to consider and give consent to the merger plan between Unity Bank Plc and Providus Bank Limited. The order was issued by Justice D. I. Dipeolu of the Federal High Court sitting in Lagos. According to an official disclosure on Tuesday, September 2, by Unity Bank, the meeting …
Insurance stocks led the performance on the floor of the Nigerian Exchange Limited (NGX), edging out other sectors as the market gained ₦344.61 billion in the just concluded month. The performance of the sector was buoyed by investors' reaction to the newly passed NIIRA 2025. Overall stock performance A review of stock market data by …
Access Holdings Plc has appointed Mr Innocent Ike as its new Group Managing Director/Chief Executive Officer (GMD/CEO), effective August 29, 2025, following regulatory approval. Ike’s appointment marks a significant shift in leadership as the company moves into the post-Herbert Wigwe era, with Aigboje Aig-Imoukhuede consolidating his leadership role as Chairman. This announcement follows the recent …
The Central Bank of Nigeria (CBN) has issued a fresh directive mandating all participants in the country’s payment ecosystem to complete migration to the ISO 20022 messaging standard and implement mandatory geo-tagging of payment terminals by October 31, 2025. In a circular published on its official website on Tuesday, signed by Dr Rakiya O. Yusuf, …
The Central Bank of Nigeria (CBN) and the Nigerian Deposit Insurance Corporation (NDIC) have pledged commitment to enhancing collaboration for the stability of Nigeria’s financial system. The commitment was made when newly appointed management of the NDIC, led by Managing Director/Chief Executive Mr Thompson O. Sunday, recently paid a courtesy visit to the CBN Governor, …
By Esther Ososanya Nigeria may be basking in the glow of global praise, but Central Bank Governor Olayemi Cardoso says it’s no time to relax. Speaking during the Monetary Policy Committee (MPC) meeting in Abuja, Cardoso acknowledged the International Monetary Fund’s (IMF) commendation of Nigeria’s recent fiscal and monetary reforms but issued a stern reminder,the …
By Esther Ososanya Nigeria may be haemorrhaging more than $18 billion annually to illicit financial flows (IFFs), but the federal government is now drawing a bold red line. At the 2025 National Conference on Illicit Financial Flows held in Abuja, government officials, tax authorities, global experts, and civil society leaders came together with one shared …
