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Dangote Refinery prepared to compete amid regulatory fairness

  • 9th March 2026

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  • 9th March 2026

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Dangote retains Africa’s richest spot with $28.5bn fortune

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CBN confirms 30 banks meet recapitalisation targets

Nigeria’s banking sector recapitalisation drive has gained significant traction, with 30 banks already meeting the new minimum capital requirements while three lenders are still undergoing regulatory verification, the Central Bank of Nigeria said on Friday. The apex bank disclosed that a total of 33 banks successfully raised fresh capital through various channels including rights issues, […]

Finance

Banks, telecoms, cement giants dominate trillion-naira NGX

Nigeria’s stock market has become increasingly concentrated, with 25 out of 148 listed companies on the Nigerian Exchange Limited commanding N111.11 trillion in market value. These dominant firms are primarily from the banking, telecommunications, and cement sectors. Capital distribution remains uneven. It concentrates in companies possessing pricing power, export capabilities, regulated revenue sources, or robust […]

CBN fines Moniepoint, OPay ₦1bn in regulatory crackdown
Banking featured

CBN fines banks ₦10m for using unaccredited cheque printers

The Central Bank of Nigeria has imposed a N10 million fine and ordered the withdrawal of cheques from circulation on commercial banks that engage unaccredited cheque printers or personalisers. The apex bank announced this in its revised sanctions regime for defaulters of the Nigeria Cheque Standard and the Nigeria Cheque Printers’ Accreditation Scheme. The CBN […]

Banking

Banks attract $16.78b capital inflows in first nine months 2025

Banks in Nigeria saw total capital inflows of $16.78 billion between January and September 2025, marking a 131.81 per cent increase from the $7.236 billion recorded in the same period in 2024, as foreign investors significantly increased their investments in FPIs. The data comes from the National Bureau of Statistics’ latest Capital Importation report for […]

CBN restricts daily limit of POS transactions to N100,000
Banking featured

Banks close 229 branches amid rapid PoS expansion

Nigeria’s banking sector recorded a significant contraction in its physical presence over the past year as Deposit Money Banks shut down 229 branches nationwide, reflecting a growing shift by customers away from banking halls towards Point of Sale transactions. This development was disclosed in the Central Bank of Nigeria’s 2024 financial sector statistical bulletin, which […]

Banking

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 regulatory forbearance granted by the Central Bank of Nigeria to lenders during the COVID-19 pandemic, according to the apex bank’s latest macroeconomic outlook report. The report revealed that the industry’s Non-Performing Loans ratio rose to an estimated seven per cent, […]

Fraud losses decline in Nigerian banks in Q1 2024 - Report
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Banks alert customers to holiday fraud risks

Banks have cautioned customers to remain vigilant against fraud during the festive season. The alerts, shared through emails and social media posts, urged customers to exercise extra care throughout the Yuletide period. According to cybersecurity firm PhishMe Cofense, scam activities typically surge during holidays due to increased end-of-year transactions and engagements. Fraudsters often impersonate trusted […]

Banking

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 of closure over recapitalisation requirements, dismissing claims circulating on social media. The assurance was contained in a joint statement on Sunday by ACAMB President, Mr. Rasheed Bolarinwa, and General Secretary, Mr. Jide Sipe. […]

Banking

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 Central Bank of Nigeria’s recapitalisation deadline. According to SBM Intelligence, consolidation is expected to define the banking landscape in 2026, driven largely by capital shortfalls across parts of the sector. The firm stated […]

Banking

Banks begin compliance drive for 2026 tax regulation rollout

Commercial banks have urged customers to link their accounts with their National Identification Numbers or Tax Identification Numbers in preparation for the enforcement of new tax regulations. In separate notices, the banks explained that the new laws mandate all bank accounts to be connected to a valid Tax ID before the implementation date. The financial […]

CBN fines Moniepoint, OPay ₦1bn in regulatory crackdown
Banking

Banks shun CBN’s lending window as liquidity pressures mount

Deposit Money Banks are increasingly shunning the Central Bank of Nigeria’s Standing Lending Facility, even as their opening balances have fallen to multi-month lows, according to the apex bank’s latest liquidity data. Between September 18 and 22, 2025, system liquidity swung sharply. Banks and discount houses opened with N582.80 billion on Thursday, September 18, but […]

Business

Banks race to meet CBN’s March 2026 recapitalisation target

Nigerian banks are ramping up capital-raising efforts as the Central Bank of Nigeria’s March 31, 2026 recapitalisation deadline approaches, with just 200 days left on the clock. The exercise, which began with a sector-wide shortfall of about ₦4.1 trillion, has already seen lenders raise roughly ₦2.8 trillion through rights issues, public offers, and strategic deals, […]

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