The Association of Bureaux De Change Operators of Nigeria (ABCON) has called for increased vigilance in the operation and regulation of the Nigeria financial system to protect it against terrorism financing and illicit financial flows. In a statement, ABCON condemned any form of terrorism financing in the country, and reiterated its support for all legitimate…
The Bank of Industry (BOI) has been recognised with two prestigious awards at the recently concluded EMEA Finance Achievement Awards, reinforcing its position as a leading development finance institution driving inclusive and sustainable economic growth across Africa. The Bank received the Best Sustainability Deal in Africa Award for its financing intervention under the Nigeria Distributed…
The Monetary Policy Committee (MPC) said rising political spending and foreign exchange (forex) demand pressures associated with the 2027 elections will test the resilience of Nigeria’s economy. Members of the Central Bank of Nigeria (CBN)-led MPC, in their personal notes at the last MPC meeting released on Thursday including Aloysius Ordu, Bandele Amoo, Lamido Yuguda,…
The Federal Government has called on Nigerians to embrace skills acquisition and vocational empowerment, commending First Bank of Nigeria Limited (FirstBank) for its sustained investment in youth- and women-focused capacity development initiatives across the country. The Federal Government explained through Ministry of Women Affairs and Social Development, alongside key stakeholders in the education, financial and…
The Founder and Chairman of Zenith Bank Plc, Jim Ovia, has retired as chair of the bank following the expiration of his tenure in line with regulatory requirements, as disclosed in a corporate notice issued in Lagos on May 5, 2026. Mr. Ovia completed the mandatory 12-year tenure stipulated under corporate governance guidelines for financial…
Rating agency, Fitch Ratings, has projected that Nigeria’s external reserves will decline to $47 billion by the end of 2026, despite ongoing foreign exchange (FX) reforms and recent improvements in macroeconomic policy. In its latest assessment affirming Nigeria’s long-term foreign-currency issuer default rating at ‘B’ with a stable outlook, the rating agency said the expected…
As part of its Kuda for Her campaign for this year’s Women’s Month, Kuda Microfinance Bank (MfB) is inviting Lagos-based women entrepreneurs in the food and hospitality sector to pitch their businesses for a chance to receive ₦1 million in funding. The Kuda for Her Pitch Challenge, which launched on March 10, 2026, will award…
Central Bank of Nigeria (CBN) has issued new guidelines that will require banks and other financial institutions to deploy automated systems to detect and report suspicious transactions as part of efforts to strengthen the fight against money laundering and terrorism financing. In the circular issued by the regulator, it said the standards are meant to…
Leading provider of consumer and business financing solutions in Nigeria, Zedvance Finance Limited, said it has disbursed over ₦96 billion in funding to support commercial businesses across the country, establishing its strong positioning beyond retail lending and reinforcing its commitment to bridging the gap between enterprise growth and access to timely financing solutions. It said…
