The Central Bank of Nigeria (CBN) has affirmed the capitalization of Alpha Morgan Bank, marking an important milestone in the Bank’s growth journey and reinforcing its commitment to building a strong, resilient, and future-ready financial institution. This affirmation reflects the Bank’s adherence to regulatory requirements and its strategic focus on […]
BANKING
Moruf Oseni; the Managing Director and Chief Executive Officer of Wema Bank, has declared March 4, 2026, as the official date of its 2026 IWD Grand Event. The global IWD 2026 theme, “Give To Gain,” served as the inspiration for this year’s celebration and the event will be held under […]
Zenith Bank Plc has cautioned the public to ignore fraudulent videos circulating on social media that falsely portray its Group Chairman, Jim Ovia, as endorsing an investment platform known as “Wealth Bridge.” In a disclaimer issued by its management, the bank described the videos and related promotional materials […]
Access Bank Plc has appointed Ifeyinwa Osime as the new Chairman of its Board, following the retirement of Paul Usoro on January 29, 2026, after completing his regulatory tenure. The appointment was announced in a notice to the Nigerian Exchange Limited on Monday, signed by the company’s secretary, […]
The World Bank upgraded its prediction for Nigeria’s economic growth to 4.4% for 2026 and 2027, saying on Tuesday, that the country’s economy is expected to develop at its quickest rate in over ten years. This was revealed in the World Bank’s most recent Global Economic Prospects report. The most […]
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has announced that banks will be required to request a Tax Identification Number (TIN) from all taxable Nigerians, in line with the federal government’s new tax administration framework taking effect on January 1, 2026. Oyedele […]
The Central Bank of Nigeria (CBN) has issued final licences to 82 Bureaux de Change (BDCs), allowing them to operate officially from November 27. The announcement was made in Abuja by Mrs. Hakama Sidi-Ali, Acting Director of the CBN’s Corporate Communications Department. Sidi-Ali explained that the licensing exercise aligns […]
The Central Bank of Nigeria (CBN) has introduced sweeping changes to the nation’s cash-handling rules, marking a major shift from previous restrictions aimed at reducing cash usage. In a new circular titled “Revised Cash-Related Policies”, signed by Dr. Rita Sike, Director of Financial Policy and Regulation, the apex bank announced […]
Nigeria’s digital finance sector reached a new milestone as PalmPay, in partnership with Wema Bank, executed the first live transaction on the Nigeria Inter-bank Settlement System (NIBSS) National Payment Stack (NPS). The historic transaction, recorded at 11:56 a.m. on Friday, November 7, 2025, underscores the country’s growing role in Africa’s […]
The Nigerian Exchange (NGX) opened the week on a bearish note, losing ₦121 billion in market capitalization on Monday as investors reacted to the Central Bank of Nigeria’s (CBN) new forbearance directive targeting the banking sector. The All-Share Index (ASI) fell by 191.30 points, representing a 0.17% decline, to close […]