By OBI DAVIES Nigeria’s 2026 Bank Recapitalisation Enters the Final Phase WITH the 31st March 2026 deadline fast approaching, Nigeria’s banking sector is undergoing its most significant structural shake-up in more than a decade. The Central Bank of Nigeria’s (CBN) recapitalisation directive has moved beyond speculation into execution, reshaping balance sheets, ownership structures and long-term […]
By FIDELUS ZWANSON Financial Inclusion and Diaspora Angle Nigeria Records 4.36 Million New BVNs in One Year — NIBSS NIGERIA added 4.36 million new Bank Verification Numbers between December 2024 and December 2025, pushing total enrollment to 67.84 million, according to the latest figures from the Nigeria Interbank Settlement System (NIBSS). The increase represents a […]
By OBIOMA TORI Liquidity Surge Meets Regulatory Pressure An Economy Awash with Capital NIGERIA’S financial system is not suffering from a lack of liquidity. If anything, it has too much. Institutional investors, pension administrators, private equity players, and foreign portfolio funds are holding capital reserves seeking entry points into regulated, high-yield sectors. Recapitalisation has opened […]
By OBI DAVIES A Tax Reform With a Bigger Thesis FIRS and fiscal policymakers argue that stamp duties will help Nigeria capture revenue from digital velocity, strengthen tax administration, and broaden the government’s take from formal electronic financial flows. The reform comes as Nigeria battles chronic fiscal pressures — infrastructure financing gaps, subsidy-removal shocks, and […]
Customs Moves to Enforce Timely Revenue Remittance THE Nigeria Customs Service (NCS) has announced the commencement of enforcement actions against Deposit Money Banks (DMBs) that delay remitting revenue collected on its behalf, introducing a stiff financial penalty to curb the practice. 3% Interest Penalty Above NIBOR Under the new directive, any bank that fails to […]
By OBIOMA TORI THE end of the year brings prosperity for commerce—and peril for banks. Nigeria’s financial institutions are once again bracing for a familiar pattern: a spike in digital fraud driven by the surge in electronic payments that accompanies festive spending. Criminal networks exploit this predictable cycle, timing attacks for moments of peak activity […]
By FIDELUS ZWANSON IN a major policy shift, the Central Bank of Nigeria (CBN) has lifted all cash deposit limits and increased weekly withdrawal thresholds for individuals and businesses, effective 1st January 2026. The move aims to ease liquidity constraints, reduce transaction delays, and restore confidence among cash-dependent consumers and businesses. Under the new rules, […]
By FIDELUS ZWANSON NIGERIA’S demand for physical cash surged again in October, with Currency Outside Banks (COB) climbing to ₦4.65 trillion — its highest level in months — despite the Central Bank of Nigeria’s renewed monetary tightening. The latest Money and Credit Statistics show a 4.07% increase from September’s ₦4.47 trillion, adding ₦181.71 billion to […]
By FIDELUS ZWANSON NIGERIA’S banks, insurance companies, pension fund administrators, and other financial institutions contributed a total of ₦203.24 billion in Value Added Tax (VAT) during the first half of 2025, marking a 37% increase from the ₦148.18 billion recorded in the same period last year. This surge, according to the National Bureau of Statistics […]
By OBI DAVIES NIGERIA’S banking sector is approaching a critical juncture as the Central Bank’s recapitalisation deadline of March 31, 2026, looms, yet progress remains slow and investor confidence fragile. Only 16 banks have met the required capital thresholds, leaving at least 14 struggling to raise funds amid tight liquidity and cautious market sentiment. High […]