A New Vision for Nigeria’s Financial Future THE Central Bank of Nigeria has unveiled one of its most ambitious financial reform agendas in recent years, targeting a near-complete transformation of how Nigerians conduct financial transactions. Through the Nigeria Payments System Vision 2028, the apex bank is seeking to create a digital-first economy where financial services […]
Regulatory push for stronger capital quality and risk discipline reshapes payout expectations for shareholders. A subtle but significant shift is unfolding in Nigeria’s banking sector, as several lenders delay dividend payments despite reporting strong profits for the 2025 financial year. At the centre of the development is the Central Bank of Nigeria (CBN), which has […]
Analysts say rising compliance obligations under Nigeria’s evolving tax regime could trigger increased banking and service fees. NIGERIAN consumers may soon face higher banking and transaction charges as financial institutions adjust to the growing compliance demands introduced by the country’s ongoing tax reforms. Industry experts and tax analysts have warned that the increasing operational costs […]
Fresh ATM Card Charges Trigger Customer Backlash BANK customers across Nigeria have expressed frustration over the recent increase in ATM card issuance and replacement fees, calling on the Central Bank of Nigeria to intervene and review rising banking costs. The complaints followed a new directive that raised the fee for regular debit and credit card […]
Fresh Changes to Banking Charges THE Central Bank of Nigeria has announced a new fee regime that raises the cost of obtaining or replacing ATM cards while eliminating monthly maintenance charges on naira cards. Under the new framework, customers will pay ₦1,500 for new debit or credit cards and for replacements involving lost, damaged or […]
New Consumer Protection Measures Announced THE Central Bank of Nigeria has introduced a new rule requiring banks and financial institutions to file monthly reports on failed digital transactions across electronic banking channels. The measure affects failed transactions conducted through ATMs, mobile apps, internet banking platforms, PoS terminals and related services. Industry observers say the policy […]
CBN Issues Fresh Fraud Alert THE Central Bank of Nigeria (CBN) has warned members of the public against fraudulent messages, fake emails and suspicious online links falsely presented as official communications from the apex bank. In a public advisory, the CBN said cybercriminals are circulating deceptive content designed to mislead Nigerians, steal personal information and […]
New Banking Identity Era Begins A financial sector expert has clarified the Central Bank of Nigeria’s revised BVN guidelines, describing them as a major attempt to modernise customer verification and close loopholes used by fraudsters. The Bank Verification Number system, introduced to create a unique identity across Nigerian banks, has become central to account ownership, […]
A Major Shift in Nigeria’s Banking Landscape THE Central Bank of Nigeria (CBN) has formally concluded its sweeping banking sector recapitalisation programme, marking a significant milestone in efforts to strengthen financial system stability and position banks for long-term economic support. The programme, launched in March 2024, required banks to meet new minimum capital thresholds within […]
Industry on Edge as Deadline Approaches WITH less than three weeks remaining before the deadline for Nigeria’s banking recapitalisation exercise, anxiety and anticipation are rising across the financial sector. The recapitalisation programme introduced by the Central Bank of Nigeria (CBN) has triggered one of the most significant structural changes in the industry since the historic […]