Sterling CEO Yemi Odubiyi buys ₦578.1m shares via investment firm
Sterling Financial Holdings Company Plc has announced that Seven Degrees North Limited, a private investment firm associated with its chief executive officer,…
Banking
All the news and updates from the banking sector; Access Bank, GTBank, First Bank, First City Monument Bank, United Bank of Africa etcs
Nigerian banks not at risk of shutdown, ACAMB confirms
The Association of Corporate Communication and Marketing Professionals in Banks has reassured Nigerians that no bank in the country is at risk…
CBN orders banks to configure ATMs, PoS for foreign cards
In a move aimed at ensuring uninterrupted and efficient transactions for users of foreign-issued payment cards across Nigeria, the Central Bank of…
Banks brace for forced mergers amid recapitalisation deadline
Nigeria’s banking industry is projected to enter a forced round of mergers and acquisitions in 2026, as lenders scramble to meet the…
CBN orders banks to implement multi-factor authentication for foreign cards
The Central Bank of Nigeria has instructed all banks and financial institutions to implement multi-factor authentication for foreign card transactions exceeding $200…
CBN okays Lucidum Finance for full operations
The Central Bank of Nigeria has issued an operational licence to Lucidum Finance Company Limited. Lucidum confirmed that the approval was conveyed…
UBA announces retirement of four executive directors
United Bank for Africa Plc has announced that four of its Executive Directors will retire, effective January 1, 2026. This was disclosed…
Reps probe banks over ‘illegal deductions’
The House of Representatives on Tuesday leveled a significant accusation against commercial banks, alleging they were perpetrating illegal acts by deducting inexplicable…
Standard Chartered exits Cameroon, transfers banking operations to Access Bank
Standard Chartered has officially transferred its banking operations in Cameroon to Access Bank Cameroon, completing the final phase of its planned exit…
FCMB named best SME focused Bank for 2025
First City Monument Bank has been named Nigeria’s Best SME Focused Bank for 2025 by the Chartered Institute of Bankers of Nigeria,…
Ecobank seeks to buy back remaining $150m eurobond debt
Ecobank Nigeria Limited has announced a tender offer for the remaining US150 million of its US300 million 7.125 per cent Senior Note…
27 banks in market for recapitalisation funds — Cardoso
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has announced that 27 banks have sought to raise additional capital from…