Category: Banking

Banks close 229 branches amid rapid PoS expansion

Nigeria’s banking sector recorded a significant contraction in its physical presence over the past year...

Fidelity Bank appoints Amaka Onwughalu as new board chairman

Fidelity Bank Plc has announced a change in its board leadership following the completion of...

Banks’ bad loans rise as CBN ends COVID-19 relief

Nigeria’s banking sector recorded an increase in bad loans in 2025 following the withdrawal of...

CBN projects bullish capital market in 2026 amid bank racapitalisation

The Central Bank of Nigeria has forecast that Nigeria’s capital market will sustain a bullish...

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...

Nigerian banks not at risk of shutdown, ACAMB confirms

The Association of Corporate Communication and Marketing Professionals in Banks has reassured Nigerians that no...

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...

Banks brace for forced mergers amid recapitalisation deadline

Nigeria’s banking industry is projected to enter a forced round of mergers and acquisitions in...

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...

CBN okays Lucidum Finance for full operations

The Central Bank of Nigeria has issued an operational licence to Lucidum Finance Company Limited....

UBA announces retirement of four executive directors

United Bank for Africa Plc has announced that four of its Executive Directors will retire,...

Reps probe banks over ‘illegal deductions’

The House of Representatives on Tuesday leveled a significant accusation against commercial banks, alleging they...