Financial Services

Nigeria Fintech firms seek national committee to bridge regulatory gaps

October 20, 2025

NCC, CBN move to tackle failed airtime recharges on electronic platforms

October 18, 2025

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Financial Services

Banking, Insurance and general financial services news

Cryptos

Crypto: Popular Hedge Fund, Grayscale record best quarter ever

October 15, 2020

Grayscale Investments has had impressive growth after registering its third consecutive record-breaking quarter.

JPMorgan see Credit Suisse likely takeover by UBS Group

America’s biggest bank, JPMorgan Chase outperforms in Q3

October 13, 2020

JPMorgan Chase, America's biggest bank just reported its third-quarter earnings.

Union Bank reports 33% growth in PBT for FY2019, Union bank releases FY 2019 financial result, records profit increase,Union bank releases FY 2019 financial result, records profit increase, COVID-19: UBN activates Flexiwork, COVID-19: Union Bank closes some branches, downgrades activities in FCT, Lagos, Ogun, Union Bank seals $40million partnership with IFC.

Union Bank seals $40 million partnership with IFC

October 12, 2020

Union Bank has secured a partnership deal with IFC to boost trade.

Cryptos

Ripple’s money transfer network available in Nigeria

October 11, 2020

RippleNet, is now live in 55 countries including Nigeria, with XRP remittances now live in five continents.

Nigeria’s manufacturing sector contracts for 5th consecutive month – CBN , To test FX market, CBN pumps $50 million, CBN issues guidelines to Finance Institutions on establishment of Subsidiaries and SPVs, CBN injects $2.63 billion to defend naira in one month, CBN’s COVID-19 N50 billion targeted credit facility, CBN’s heterodox policies buoys credit growth, These industries drove business activities in September, Credit to Nigerian economy falls to N38.67 trillion as private stagnates at N30 trillion, Availability of secured credit to businesses and households increases as unsecured credit to households dips in Q3 2020 - CBN, CBN releases regulatory guidelines on the eNaira

CBN directs banks to confirm Swift transactions within 2 business days

by Chike Olisah

October 10, 2020

The CBN has directed all deposit money banks to ensure full compliance with Swift Universal Confirmation requirements.

Cryptos

Ripple ventures into lending

October 9, 2020

Ripple’s Line of Credit provides upfront access to capital for every market through one simple credit arrangement.

Senate investigates Nigerian banks over ATM, SMS, and maintenance charges

October 8, 2020

The Senate is set to investigate alleged illicit and excess bank charges by commercial banks operating in the country.

CBN releases new capital base, sanctions for Microfinance Banks in new draft guidelines, NIGERIA | Banking: Moody’s changes outlook on Nigerian banking sector to negative

FRC orders banks not to lend money to states without approval

October 6, 2020

In line with the provisions of the Fiscal Responsibility Act, the DMOs were directed to not give loans to states without...

CBN approves new cheque standard for banks

October 5, 2020

A new cheque standard has been approved by the Central Bank of Nigeria.

154 failed banks: Insurance corporation commences payment to depositors , NDIC settles over 500,000 failed banks, MFB depositors, Defunct Savannah Bank not yet liquidated – NDIC clarifies , NDIC to use AI, digital technology to tackle emerging threats to banks , NDIC extends insurance coverage to mobile money subscribers, FG moves to capture 80% of Nigerians in formal financial services sector

NDIC set to pay insured depositors of liquidated Femaz Microfinance Bank