Tag Archives: CBN

  The Central Bank of Nigeria (CBN) says it has elevated terrorism financing supervision to a current supervisory priority. The CBN’s Acting Director, Corporate Communications, Mrs Hakama Sidi-Ali, disclosed this in a statement issued on Tuesday in Abuja. Sidi-Ali said the move was part of the apex bank’s ongoing efforts …

FairMoney Microfinance Bank says it is embedding regulatory compliance and consumer protection into the design and lifecycle of its financial products as Nigerian regulators intensify scrutiny of digital lending and financial technology operators. The lender said its approach goes beyond meeting regulatory requirements after products have been developed, with compliance, …

The Central Bank of Nigeria (CBN) has reiterated its commitment to sustaining monetary and financial system stability through policies aimed at curbing inflation, maintaining price stability and supporting long-term economic growth. The assurance was given at a one-day stakeholders’ fair in Bauchi, where the apex bank engaged members of the …

The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 Microfinance Banks across the country, with the decision taking effect from July 1, 2026. The announcement was made on Wednesday, in a statement signed by the Acting Director of the CBN Corporate Communications Department, Hakama Sidi-Ali. Newsextra24 …

The Central Bank of Nigeria has directed banks and other financial institutions to immediately freeze the accounts and assets of individuals and companies designated for terrorism and terrorism financing, following fresh sanctions issued by Nigerian and United States authorities. The directive was contained in a circular dated June 24, 2026, …

In a landmark judgement, the Tapa Commercial Division of the Lagos State High Court on Wednesday, dismissed a multi-million Naira debt recovery suit filed by United Bank for Africa Plc against its customer, Arueyingho Gbemi Mac, finding that the bank acted in breach of regulatory and fiduciary obligations. Justice A. …

The Central Bank of Nigeria (CBN), says the bank is targeting a diaspora reserve of one billion dollars by 2026. Dr Olayemi Cardoso, the Governor of CBN, said this at the 18th Annual Banking and Finance Conference organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja on …

NIGERIA’s Central Bank, CBN, has fined Paystack, one of the country’s most prominent fintech companies, ₦250 million ($190,000) for allegedly operating its newly launched consumer product, Zap by Paystack, as a wallet in violation of its regulatory licence, according to a report by TechCabal. The news organ cited persons with …

THE Central Bank of Nigeria (CBN) has announced significant review of the documentation requirements for transactions conducted through the Pan-African Payment and Settlement System (PAPSS) in Nigeria. According to a statement by Hakama Sidi-Ali, CBN’s Acting Director, Corporate Communications Department, said the initiative was part of CBN’s ongoing commitment to …

Central Bank of Nigeria (CBN) has issued a clarification regarding the status of both old and redesigned naira notes, confirming that they will continue to be accepted as legal tender with no established deadline for their validity. Newsextra24 reports that Hakama Sidi Ali, the Acting Director of Corporate Communications at the …