Between 2022 and 2024, Nigeria’s telecom sector attracted $991million in foreign direct investment (FDI) into the economy. According to a report prepared by the Nigerian Communications Commission (NCC), FDI into the Nigerian telecom industry in year 2023 was approximately $134,754,819.27 against $399, 905,531.38 as at year 2022. In 2024, it was approximately $456,589,936.15 against $134,754,819.27…
Nigeria has emerged as a powerhouse in the global smartphone recovery, registering a massive 29per cent year-on-year surge in shipments in the third quarter (Q3) of 2025. This dramatic rebound, highlighted in a new report by technology market analyst firm Omdia, signifies a major turnaround for the country after a challenging period of currency volatility…
First City Monument Bank (FCMB) has expanded the pool of interest-free loans available to women-owned and women-led Small and Medium-Scale Enterprises (WSMEs) under its flagship SheVentures initiative from N200 million to N1 billion. The facility, the bank said, will allow women entrepreneurs across various sectors to access loans of up to N10 million, alongside business…
Nigeria’s President Bola Tinubu has directed financial and capital market regulators to monitor the growing use of stablecoins and digital currencies in the country, warning that the shift away from traditional banking channels poses challenges that must be managed proactively. Speaking at the 18th Annual Banking and Finance Conference of the Chartered Institute of Bankers…
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 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…
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…
A leading full-service digital bank, PalmPay, has reaffirmed its dedication to advancing the future of payments in Nigeria by promoting the widespread adoption of contactless-enabled payment terminals. This was made known during the recently concluded BusinessDay Future of Payment Conference, themed “Fintech Evolution: Gateway to Payments.” In his welcome address, BusinessDay Publisher, Frank Aigbogun, emphasized…
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…
