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E-Financial

Crypto Exchanges Begin Delisting Naira from P2P Platforms- SEC

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Crypto exchanges have commenced delisting of the Naira from Peer-to-Peer (P2P) trading platforms, following directives of the Office of the National Security Adviser and the Securities and Exchange Commission (SEC).

Crypto Exchanges Begin Delisting Naira from P2P Platforms- SEC

P2P trading in the realm of cryptos is a decentralized method that allows individuals to buy and sell digital assets directly with one another.

In this system, P2P trading platforms serve as intermediaries, facilitating secure and trust-based transactions.

SEC explained that its checks have indicated that the Naira has been removed as a fiat currency option for transactions on KuCoin platform and the exchange has already begun the necessary adjustments to its technology to accommodate the delisting of the Naira as soon as practicable.

It explained that the removal of the Naira from the platforms limits the ability to manipulate the exchange rates against the Nigerian currency which is expected to further strengthen the value of the naira.

Dr. Emomotimi Agama, acting director general of SEC, reacting to the delisting by KuCoin, expressed delight that the crypto exchanges were heeding the directives of ONSA and SEC, describing it as a welcome development.

He stated: “We are happy that they have started complying with the directives by the ONSA.  We ask that those involved in sharp practices that undermine national interest should cease and desist. It is in our interest as a people to protect what belongs to us.  Anyone that disobeys directives should be ready to face the full weight of the law”.

Agama added that as the apex regulator of the capital market, “SEC is co-operating  with the Office of the National Security Adviser, the  Economic and Financial Crimes Commission (EFCC) and other relevant agencies to achieve the national objective of making sure that illegality is not allowed to thrive”.

 

 

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

E-Financial

CBN, NGX Group Defend Economic Reforms at Nasdaq

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In a bid to woo global capital and enhance investor’s confidence, Nigeria’s top financial leaders presented a unified front at a strategic investment forum hosted at the Nasdaq MarketSite in New York.

The event was organised by the Central Bank of Nigeria (CBN) in collaboration with Nigerian Exchange Group (NGX Group), JPMorgan, and the African Private Capital Association (AVCA).

The exclusive gathering brought together leaders from the Nigerian diaspora, global investment institutions, and corporate executives for insightful dialogue on the country’s evolving financial landscape and its readiness to attract global capital for sustainable growth.

Governor of the CBN, Olayemi Cardoso in a fireside chat with Nobel Prize-winning economist Dr. James Robinson, outlined Nigeria’s monetary policy direction, growth prospects, and efforts to deepen its financial markets.

He reaffirmed the CBN’s commitment to disciplined policy management, market-friendly reforms, and enhanced transparency to foster a stable, investor-friendly environment. Cardoso also stressed the importance of strong collaboration between regulators like the CBN and market operators such as NGX Group, describing it as critical to building a resilient financial system and mobilising long-term investments.

Temi Popoola, Group Managing Director/CEO of NGX Group, moderated an engaging discussion on how Nigeria’s reforms are repositioning the country as an increasingly attractive destination for global capital.

“Today’s dialogue marks a pivotal step in reshaping global perceptions of Nigeria’s investment story,” said Popoola. “The candid engagement between policymakers, market operators, and investors reflects the real progress Nigeria is making. NGX Group remains committed to supporting reforms that strengthen market structures, drive innovation, and accelerate economic growth.”

While investors welcomed Nigeria’s reform agenda, they emphasized that sustained confidence will require consistent FX policies, lower transaction costs, reduced regulatory friction, clearer direction on non-oil revenue reforms, an improved ease of doing business, and continued transparency in monetary and fiscal communication.

The forum ended on an optimistic note, with participants expressing strong confidence in Nigeria’s economic prospects and its potential for deeper integration into global financial markets, provided reform momentum continues.


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E-Financial

Union Bank Rewards Customers in Save and Win Promo with Motorcycles and Cash Prizes

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Union Bank of Nigeria has rewarded another set of customers in the ongoing Save and Win Palli Promo 4 campaign. Six lucky customers each won a brand-new motorcycle, and 120 additional winners won cash prizes.

The third monthly hybrid live draws were transparently conducted at the Bank’s Sabo, Yaba Branch in Lagos under the supervision of relevant regulatory institutions.

For integrity purposes, some of the winners were contacted to congratulate and remind them that the Bank will never call to request or confirm their confidential banking details such as BVN, date of birth, pins, or passwords.

Save & Win Palli Promo 4 is a nationwide campaign designed to reward both new and existing customers with cash prizes and other exciting gifts worth N131,000,000.

This initiative aims to support them in achieving their savings goals while getting rewarded at the same time.

To stand a chance to win, customers can continue to top up their savings in multiples of N10,000 or more and perform a minimum of five transactions a month to increase their chances of winning in the draws. This promo is open to new and existing savings and current account holders.

Prospective customers can download the UnionMobile app on their smartphones to open accounts or walk into any Union Bank branch.

Returning customers can call the 24-hour Contact Centre on 07007007000 or visit any Union Bank branch nationwide to reactivate dormant accounts.


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E-Financial

FCMB Group Redefines Corporate Storytelling with The Power Of The Group TVC

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For decades, financial institutions have struggled to communicate the depth and breadth of their services in a single, coherent message.

FCMB Group’s latest TVC, The Power Of The Group, masterfully accomplishes this by placing its subsidiaries at the heart of the narrative.

The ad opens with a heated basketball game with a lone basketballer then pans out to the full force of the 5-woman team, subtly introducing the idea of collaboration. As the story unfolds, viewers are taken on a journey across Taraba, Abuja and Lagos States, each symbolising a key aspect of FCMB’s ecosystem.

The imagery of the drummers playing on Mambila Plateau reinforces the brand’s message: success is not achieved in isolation—it’s built through strategic partnerships.

From banking to consumer finance, investment management to investment banking, the TVC seamlessly weaves in elements from all arms of the FCMB Group, making it clear that power lies in collaborative innovative efforts.

The tagline ‘The Power Of The Group’ encapsulates the campaign’s essence, reinforcing the importance of unity in financial empowerment.

The production process was an extensive undertaking, requiring 4 months of production and a team of over 1,000 industry professionals.

The investment, said to run into hundreds of millions, underscores the bank’s commitment to delivering not just a commercial but a landmark campaign that defines its brand for years to come.

As the industry takes note, FCMB Group’s approach could redefine how corporate Nigeria tells its story.


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