Nigeria
Nigeria: 25 banks’ profits drop by N482b as CBN restricts N9.5tr deposits
Twenty commercial banks and five merchant banks’ profits dropped by N482 billion in 12 months over N9.5 trillion cash restriction policy implemented by ...
Nigeria
Nigeria: Awabah accepted into Techstars London accelerator programme
Awabah, the Nigeria-based startup providing pension access to Africa’s informal sector, has been accepted into the Techstars London accelerator programme. The company broke ...
News
Sterling Bank and Founders Institute partner to connect Nigerian early-stage founders with resources and opportunity
Sterling Bank, regarded as Nigeria’s most technologically advanced financial institution has partnered with the global accelerator program, Founder Institute (FI), to connect early-stage founders in ...
News
CBN Interventions: NIRSAL MFB disburses N440B
NIRSAL Microfinance Bank (NMFB) has disbursed a total of N439.74 billion to 711,706 beneficiaries under the Agribusiness/Small and Medium Enterprises Investment Scheme (AGSMEIS) and ...
Nigeria
Nigeria: CBN pegs microfinance banks loan per transaction at N1m
The Central Bank of Nigeria (CBN) has pegged maximum loan limit for Microfinance Banks (MfBs) at N1 million per transaction. The apex bank ...
Nigeria
Nigeria: CBN threatens license revocation for microfinance banks trading in FX
Microfinance banks operating beyond the scope of their license will have their license revoked, the Central Bank of Nigeria (CBN) has warned. In ...
News
Nigeria: FIRS targets N5trn tax from Twitter, other digital platforms
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Mohammed Nami, has said that the impending registration of Twitter and other social media ...
Nigeria
Nigeria: CBN asks banks to block accounts of 18 companies
The Central Bank of Nigeria (CBN) has directed banks to place a post-no-debit on the bank accounts of 18 companies. A post-no-debit means that all ...
Innovation
Nigeria: Upperlink secures PCIDSS licence for payment gateway deployment in Africa
Upperlink, a payment solution service provider licenced of the central bank of Nigeria, has secured the Payment Card Industry Data Security Standard (PCIDSS) ...
Nigeria
CBN Moves to Strengthen Cybersecurity in Other Financial Institutions
The Central Bank of Nigeria (CBN) yesterday moved to strengthen cyber resilience of Other Financial Institutions (OFIs) under its regulation in order to ...