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Court grants eNaira exclusive ownership rights to CBN
Following months of controversies over rights control, the Federal High Court sitting in Abuja, has granted the Central Bank of Nigeria (CBN) full ownership of the eNaira digital currency platform. It would be recalled that the eNaira digital currency platform was…
Wema Bank eyes Tier-1 status with planned acquisitions, as PBT hits N221.9bn
Shareholders of Wema Bank have approved the Management’s plans for bold acquisitions that would see the institution reach a Tier-1 status in the country. The shareholders, Wednesday, also endorsed the bank’s move to fast-track growth and attain Systemically Important Bank…
Lagos clamps down on 15 money lending firms over infractions
Lagos Government says it has sanctioned at least 15 money lending companies for breaching operational regulations and engaging in activities considered harmful to their customers. This is also as the government disclosed that it renewed the existing operational licences of…
PoS transactions set to hit N8.96trn in May
Point-of-Sale (PoS) transactions in Nigeria are set to reach N8.96 trillion by the end of May 2026, rebounding from a slight 1.82 per cent dip suffered in April, this year. According to payment system data, PoS transactions stood at N7.70…
MAX secures $8m debt funding for E-Mobility operation across Africa
Frank Okon Metro Africa Xpress (MAX) has secured $8 million in debt financing from Triple Jump to support the expansion of its electric mobility operations across Africa, in a deal arranged by Verdant IMAP. The funding marks an important milestone…
BOI’s 7% interest guaranteed loan scheme for West African women will boost SMEs
Bank of Industry (BOI) has said that its Guaranteed Loan (GLO), which charges an annual interest rate of 7% for businesses owned by women in West Africa, will boost Small and Medium Enterprises (SMEs) in the region. Managing Director…
Fidelity Bank’s gross earnings hit N1.5trn
Fidelity Bank Plc has reported a 45 per cent increase in gross earnings for the 2025 financial year, just the bank’s shareholders’ funds crossed the N1 trillion mark following sustained balance sheet expansion and fresh capital injection. Analysis from the…
FCMB Asset Management rebrands mutual funds after SEC approval
FCMB Asset Management Limited has received approval from the Securities and Exchange Commission to execute supplemental trust deeds covering the rebranding of its legacy mutual funds and a reduction in minimum subscription thresholds for selected investment products. The company, which…
Nigerian banks face $1.7bn Eurobond maturity wall stronger amid widening sector divergence
Nigeria’s banking sector is entering a key Eurobond maturity cycle with significantly improved foreign-currency liquidity conditions, stronger external reserves, and reduced near-term refinancing pressure. This is, however, as according to Fitch Ratings, the apparent stability masks persistent structural constraints…
Nigeria’s pension fund assets hits N29.52trn — PenCom
National Pension Commission has disclosed that Nigeria’s pension fund assets increased by about N90 billion to N29.52 trillion as of February 2026, supported by gains in domestic equities and Federal Government securities despite tight liquidity conditions and ongoing portfolio rebalancing….
