By FIDELUS ZWANSON Nigeria’s Digital Loan Boom: How Rising Interest Rates Are Pushing Struggling Households Deeper Into Debt NIGERIA’S fast-growing digital lending industry is creating new opportunities for consumers and small businesses to access credit. However, behind the convenience of obtaining money through mobile applications lies a mounting financial concern. As living costs continue to […]
By FIDELUS ZWANSON Consumer Lending Enters a Critical Phase NIGERIA’S consumer-credit market is expanding, but the latest figures are raising questions about what is driving that growth. Personal loans reached an estimated ₦2.06 trillion in May 2026, representing 64.78 per cent of total outstanding consumer credit. The figure emerged as total consumer credit increased from […]
By OBI DAVIES THE Central Bank of Nigeria (CBN) is moving into a tougher phase of banking-sector supervision after the completion of the latest recapitalisation programme. The apex bank says stronger capital alone cannot guarantee a resilient financial system. Instead, banks must combine bigger balance sheets with sound governance, effective risk management and productive lending. […]
By FIDELUS ZWANSON NIGERIA’S capital market could receive a major boost from the Dangote Petroleum Refinery and Petrochemicals IPO, with the Federal Government projecting that the listing could add about $60 billion to the Nigerian Exchange’s equity market capitalisation. The Minister of Industry, Trade and Investment, Jumoke Oduwole, made the projection while expressing support for […]
By DAVID JOHN-FLUKE NIGERIA’S financial inclusion drive is reaching a new stage. More adults are using formal financial services. Digital payments and mobile money are becoming part of everyday life. Formal savings have expanded, and overall financial exclusion has declined. Yet the 2026 Access to Financial Services in Nigeria (A2F) Survey by Enhancing Financial Inclusion […]
By MAHMOOD MALIK MUSA (M. M. M.) IBRAHIM Digital Payments Reshape Local Commerce THE growing use of digital payment platforms is changing the way small businesses operate in Kano’s Sabon Gari area. Roadside vendors, market women, food sellers and neighbourhood shops are increasingly accepting bank transfers and other digital payments as customers move away from […]
Analysis argues that while the First Lady’s ₦50,000 grants offer immediate relief to struggling women entrepreneurs, Nigeria needs a structured empowerment model that promotes savings, financial inclusion and long-term business growth. Beyond Immediate Relief THE debate surrounding the First Lady’s ₦50,000 grants to women has reignited conversations about the best approach to empowering Nigeria’s vast […]
Multiple Banking Charges Intensify Cost-of-Living Pressures on Nigerians NIGERIA’S drive towards a cashless economy is facing renewed scrutiny as mounting electronic banking charges continue to fuel public frustration, with consumers, economists and financial experts warning that the cumulative cost of digital transactions could undermine financial inclusion and weaken confidence in the country’s payment system. While […]
Digital Banking Boom Masks Growing Access Crisis NIGERIA’S transition toward a digital financial ecosystem is accelerating, but beneath the impressive growth in electronic transactions lies a widening accessibility gap affecting millions of citizens. Across emerging suburban settlements, rural communities and urban fringes, residents increasingly depend on Point-of-Sale (POS) agents as traditional banking infrastructure struggles to […]
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 […]