Domestic Transactions on NGX Drop to N1.9tr, 16 Years Decline from N3.5tr
The Nigerian Exchange Limited (NGX) has witnessed a significant decline of 45.30 percent in domestic transactions over 16 years, from N3.556tn in 2007 to N1.945tn in 2022, according to a…
Businesses Yet to Fully Recover from Cash Crisis, Stanbic’s PMI Indicates
Latest Stanbic IBTC bank Nigeria PMI data indicated that private sector continued to recover from the cash crisis in May as access to money improved and business conditions returned to…
Microfinance Banks Review Recapitalization Status after CBN License Revocations
The decision by the Central Bank of Nigeria (CBN) to revoke the licenses of some microfinance banks (MFBs) has prompted the National Association of Microfinance Banks (NAMB) to take action.…
HAYVN Receives VASP License from Lithuanian Regulators
…Further strengthening its global regulatory footprint HAYVN, a leading digital asset focused financial institution delivering Payments, Trading, Custody, Asset Management and Research services, has obtained a Virtual Asset Service Provider…
MFS Africa named Fintech of the Year
…at African Banker Award held in Egypt MFS Africa, a leading pan-African fintech company, has been crowned Fintech of the Year at a ceremony held last night, 24 May, in…
MultiChoice Group ventures into ePayment
The aim is to transform the African payments landscape by making digital payments more accessible and reliable for domestic, cross-border and global payments
President Buhari’s Eight Years in Focus – Energy | Health | Education | Security
As the President Muhammadu Buhari eight-year presidency comes to an end, responses from various regions of the nation suggest that it might not have been the kind of governance they…
179 Microfinance Banks Face Liquidation as CBN, NDIC Finetune Process
By: Olivia Nnorom Shehu Usman, Coordinator, NDIC Kano zonal office, at a lecture organised by the Nigeria Deposit Insurance Corporation (NDIC) said that the corporation has planned to completely liquidate…
Stanbic IBTC Trustees Wins Best Trust Company Nigeria 2023 Award
Stanbic IBTC Trustees, a subsidiary of Stanbic IBTC Holdings, has been awarded “Best Trust Company Nigeria 2023” by Finance Derivative, a leading financial news and analysis publication known for its…
Why Nigerian Insurers, Businesses Should Embrace Cyber Insurance
By: Olivia Nnorom In today’s digital age where businesses of all sizes are increasingly reliant on technology and the internet to operate, understanding the increasing cyber risks and why Cyber…
P2Vest Unveils Online Insurance Marketplace ‘InsuranceParasol’
…200,000 Users to Benefit By: Olivia Nnorom P2vest Technology Limited has launched P2Vest InsuranceParasol, a first-of-its-kind online insurance marketplace, that will provide lasting solutions to both individuals and businesses enabling…
NDIC Assures Swift Payment to Depositors of Closed Microfinance Banks
The Nigeria Deposit Insurance Corporation (NDIC) has pledged to expedite the payment process for depositors of 179 Microfinance Banks and four Primary Mortgage Banks, whose licenses were recently revoked by…
Double-digit Inflation and Increased Interest Rate. What Else Is Nigeria Getting Right?
Death, taxes and the CBN increasing the interest rate every time the NBS releases an inflation rate figure. This has become the norm in Nigeria. Nigerians are probably getting used…
Forex Access: Why Nigerian Government Enforces TCC Requirement
Accessing foreign currency (forex) from Nigerian banks has become increasingly challenging for businessmen, exporters, and students studying overseas. The situation is now intensified due to the implementation of new stringent…
CBN Raises Interest Rate to 18.5% in Aggressive Move to Curb Inflation
The Central Bank of Nigeria made a significant move on Wednesday by raising its benchmark lending rate to 18.5 percent, up from the previous rate of 18 percent. This bold…