Nigeria
Nigeria: CBN Issues Updated Forex Guidelines for CCI Transactions
The Central Bank of Nigeria (CBN) has released new guidelines clarifying the application of the Foreign Exchange Manual concerning transactions involving Certificates of ...
Regulatory
Nigeria: CBN Approves Financial Support for Unity Bank and Providus Bank Merger
The Central Bank of Nigeria (CBN) has approved substantial financial support to advance the merger between Unity Bank Plc and Providus Bank Limited. ...
Nigeria
Nigeria: CBN Ends 12-Month Forex Policy with $876M Auction
The Central Bank of Nigeria (CBN) has conducted a significant forex auction, dispensing $876.26 million to end users through bids submitted by 26 ...
Regulatory
Global: Central Bank of Oman Developing Regulatory Framework for Buy Now Pay Later Services
The Central Bank of Oman (CBO) is actively developing a licensing and regulatory framework for Buy Now Pay Later (BNPL) services. This short-term ...
Regulatory
Global: Regulators’ Joint Statement Highlights Concerns Over Bank/FinTech Partnerships
Late last month, several regulatory agencies issued a joint statement and request for information addressing the “potential risks” associated with bank/FinTech partnerships. This ...
Nigeria
Nigeria: PenCom Welcomes New Acting Director-General
Omolola Oloworaran has officially assumed the role of Acting Director-General of the National Pension Commission (PenCom). Her appointment is in line with Section ...
Regulatory
Global: Ireland Takes Legal Action Against Elon Musk’s X Over Unauthorized Use of EU User Data for AI Training
Elon Musk’s X is facing legal action in Ireland for allegedly using the data of European users to train its AI model, Grok, ...
Nigeria
Nigeria: Unity Bank Seeks ₦700 Billion CBN Support for Providus Merger
In a bid to stabilize Nigeria’s financial system, the Central Bank of Nigeria (CBN) has extended a significant financial facility to support the ...
Kenya
Kenya Cuts Interest Rate to 12.75% Amid Eased Inflation
The Central Bank of Kenya (CBK) has announced a reduction in the benchmark interest rate to 12.75%, following a deceleration in inflation rates. ...
Nigeria
Nigeria: National AI Strategy Draft: Concerns Over Privacy and Data Protection
On August 3, 2024, Dr. Bosun Tijani, Nigeria’s Minister of Communication, Innovation, and Digital Economy, released a draft of the ‘National Artificial Intelligence ...
