Deobanks could mark the next stage of financial innovation by changing the underlying infrastructure that moves money and digital value, rather than simply offering another financial application. This is the view of Maksym Sakharov, chief executive officer (CEO) and Co-Founder at WeFi.co. Sakharov made the argument in an op-ed shared with Pinnacle Daily recently, saying …
President Bola Tinubu has said the National Credit Guarantee Company (NCGC) has helped participating financial institutions extend ₦46.95 billion in loans to businesses and other borrowers in its first year of operations. Tinubu disclosed this in a statement posted on his X handle on Monday, saying the credit guarantees were designed to address one of …
Nigeria’s Access Bank Plc is consolidating its Kenyan operations as the Central Bank of Kenya (CBK) approves the transfer of all the business, assets and liabilities of Access Bank (Kenya) Plc to National Bank of Kenya Limited (NBK). The CBK announced the transaction in a statement dated September 23, 2026, saying the transfer followed its …
The Central Bank of Nigeria (CBN) has cut its benchmark interest rate — the Monetary Policy Rate (MPR) — from 26.5% to 23%, a reduction of 350 basis points. The decision was taken by the Monetary Policy Committee (MPC) at its 307th meeting on September 22, 2026. The MPR is the rate at which the …
Access Bank Plc has redeemed a $500 million senior unsecured Eurobond that matured on Monday, September 21, 2026, marking the full repayment of the five-year debt from the bank’s own foreign currency liquidity. Access Holdings Plc, the parent company of the bank, disclosed this in a statement signed by its Company Secretary, Sunday Ekwochi, on …
The Chartered Institute of Bankers of Nigeria (CIBN) has charged financial journalists to play a critical role in sustaining the gains of banking sector recapitalisation, tax reforms and the fintech revolution, saying the success of economic reforms depends largely on accurate, timely and responsible reporting. The Institute said effective public communication remained essential to the …
The National Pension Commission (PenCom) has described Nigeria's 2004 pension reform as one of the most significant and enduring transformations in the country's financial sector, saying it has continued to deepen under successive administrations. The Head of the Corporate Communications Department at PenCom, Mr Ibrahim Buwai, made the remarks at the 36th annual conference of …
The African Union Commission (AUC) and the African Tax Administration Forum (ATAF) are moving to deepen cooperation on tax policy and administration This comes as African countries seek to strengthen domestic revenue mobilisation and reduce leakages from cross-border tax activities. The two institutions reaffirmed their commitment during a meeting between an ATAF delegation led by …
The World Bank has challenged Nigerian banks to unlock the full economic value of the ₦4.65 trillion raised in the recently concluded recapitalisation exercise, warning that the fresh capital must reach businesses that can create jobs and expand production. World Bank Country Director for Nigeria, Matthew Verghis, said the banking sector was now stronger and …
The Central Bank of Nigeria (CBN) has elevated terrorism financing controls to a current supervisory priority. The move signals a tighter scrutiny of banks and other financial institutions as the regulator steps up efforts to prevent the financial system from being used by illicit actors. It hinted at this in a circular issued on Tuesday …
