Wema Bank concludes second phase of N50b capital raise successfully
Wema Bank Plc has announced the successful conclusion of the second tranche of its N50 billion Special Placement, which was fully subscribed,…
Banking
All the news and updates from the banking sector; Access Bank, GTBank, First Bank, First City Monument Bank, United Bank of Africa etcs
CBN, Bank of Angola ink MoU to boost technical collaboration
The Central Bank of Nigeria and the Bank of Angola have signed a Memorandum of Understanding to strengthen bilateral ties and build…
Nigeria’s trade surplus rises to 6% of GDP — CBN gov
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has announced that Nigeria’s trade surplus has increased to 6 per cent…
CBN’s new PoS policy may kick us out of business – Agents
A new policy from the Central Bank of Nigeria on agent banking is projected to push about 40 per cent of Point-of-Sale…
Wikki Air signs MoU with Bauchi to begin flight operations
A new Nigerian airline, Wikki Air Limited, has entered into a Memorandum of Understanding with the Bauchi State Government to launch flight…
Alternative payment systems vital for rural communities – CBN
The Central Bank of Nigeria has described alternative payment systems as a vital lifeline for rural populations and underserved communities across the…
First Bank unveils fully automated digital Xperience centre
First Bank has strengthened its leadership in digital banking with the launch of a new fully automated branch, the FirstBank Digital Xperience…
CBN slams N5m fine on agent banking offences
The Central Bank of Nigeria has announced that any agent found engaging in non-permissible activities under its newly revised Agent Banking Guidelines…
CBN orders banks to submit monthly reports on POS agents
The Central Bank of Nigeria has directed all financial institutions to submit detailed monthly reports on the operations of their Point-of-Sale agents.…
CBN rate cut will shrink banks’ profits – Moody’s
Global ratings agency Moody’s Investors Service has warned that Nigeria’s banking sector may face renewed profitability pressures following the Central Bank of…
Sanusi urges banks to adopt mandatory quotas for women
Former Central Bank Governor and Khalifa of the Tijjaniya group in Nigeria, Sanusi Lamido Sanusi, has urged banks to adopt mandatory quotas…
Stanbic IBTC names Chukwuma Nwokocha as new group CEO
Stanbic IBTC Holdings Plc has announced the appointment of Mr. Chukwuma Nwokocha as its substantive Group Chief Executive, effective October 2, 2025,…