The Central Bank of Nigeria (CBN) has rolled-out Bank Customers’ Bill of Rights and Obligations to members of the banking public. The report, released at the “CBN Fair” held in Lagos, under the theme: “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development”, insisted that a bank customer has a…
The National Insurance Commission (NAICOM) has rolled out operational guidelines for Insurtech businesses in Nigeria. This is a step toward regulating and expanding digital innovation in the insurance sector. The move which came after a series of stakeholder engagements NAICOM said is aimed at creating a unified regulatory environment for emerging insurance technology players. According…
The International Monetary Fund (IMF) has pledged to sustain its support to the Federal Inland Revenue Service (FIRS) to help deepen tax administration and strengthen Nigeria’s revenue mobilisation efforts. Speaking during the opening of an IMF-supported Headquarters Mission at the FIRS headquarters in Abuja, a Senior Economist at the Fiscal Affairs Department of the IMF,…
The Central Bank of Nigeria (CBN) has clarified that there are no hidden charges attached to transactions on Non-Resident Bank Verification Number (NRBVN) platform. The apex bank affirmed that no hidden fees have been introduced and that the BVN enrolment for Nigerians residing within the country remains entirely free of charge. The bank’s Acting Director…
The Central Bank of Nigeria (CBN) has debunked claims suggesting it has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025. The apex bank said the official deadline remains June 3, 2025, as previously announced. A statement issued yesterday by the Acting Director of the Corporate Communications Department,…
The Central Bank of Nigeria (CBN) will continue to grow the nation’s net foreign reserves beyond the level stipulated by the International Monetary Fund (IMF) to ensure the economy remains safe and healthy, CBN Governor Olayemi Cardoso, said yesterday after the Monetary Policy Committee (MPC) meeting, where key interest rates were held steady for the…
United Bank for Africa (UBA) Plc has reaffirmed its leadership position in fostering economic growth and empowerment as it clinched four major awards at the 2025 Development Bank of Nigeria (DBN) Service Ambassador Awards which held at the weekend in Lagos. The prestigious awards, recognises financial institutions driving impactful support for Micro, Small, and Medium…
In a bold move to redefine promotion of financial literacy, Nigeria’s retail lender, Unity Bank Plc, has unveiled GenFi, a new digital banking platform tailored to empower kids and teenagers between the ages of 8 and 18 with essential financial skills. The launch follows a report by the Central Bank of Nigeria, which found that…
Retail lender, Unity Bank Plc, has unveiled GenFi, a new digital banking platform tailored to empower kids and teenagers between the ages of eight and 18 with essential financial skills and deepen financial literacy. The launch is coming on the heels of a report by the Central Bank of Nigeria (CBN), which found that only…
