30 results
- 19 Feb 2020
CBN Releases List of Authorised Banks in Nigeria
Central Bank of Nigeria (CBN) has released the list of deposit money banks and financial holding companies operating in Nigeria, meaning that anybody who transacts banking business outside the list…
- 18 Jul 2023
CBN, Egyptian Central Bank Ink MoU on 'Nigeria-Egypt FinTech Bridge'
Central Bank of Nigeria (CBN) and the Central Bank of Egypt (CBE), on Monday signed a Memorandum of Understanding (MOU) to establish a Nigeria-Egypt FinTech Bridge. The signing ceremony, took place…
- 2 Dec 2024
Central Bank of Nigeria Plans Major Workforce Reduction by December 31
Central Bank of Nigeria (CBN) may retire about 1,000 of its employees by December 31, 2024. According to a report by Daily Trust, the exercise will cost the apex bank N50 billion. The move comes as,…
- 22 Oct 2019
Will the Central Bank of Nigeria Cut Interest Rates in November?
By Lukman Otunuga, senior research analyst at FXTM, Rising inflationary pressures in Nigeria will certainly complicate the Central Bank of Nigeria’s efforts to cut interest rates to stimulate growth.…
- 21 Jul 2023
RightCard Secures IMTO License from Central Bank of Nigeria
RightCard Payment Services Limited, a Lemonade Technology Inc. subsidiary, has obtained an International Money Transfer Operator (IMTO) license from the Central Bank of Nigeria (CBN). This milestone…
- 14 Nov 2019
Will the Central Bank of Nigeria Cut Interest Rates in November?
By Lukman Otunuga, Senior Research Analyst at FXTM, Rising inflationary pressures are certainly weakening the case for the Central Bank of Nigeria to cut interest rates from 13.5% anytime soon.…
- 9 Mar 2023
CBN Approves Guidelines for Open Banking in Nigeria
Central Bank of Nigeria (CBN) has approved operational guidelines for open banking in Nigeria. The guideline was released via a circular by Musa Jimoh, the Director of the CBN’s Payments System…
- 19 Jul 2019
Will the Central Bank of Nigeria join the monetary easing bandwagon?
By Lukman Otunuga, FXTM Research Analyst Unfavorable macroeconomic conditions across the globe have forced major central banks to embark on a monetary easing cycle to protect their respective…
- 24 Mar 2020
Will the Central Bank of Nigeria Pull the Rate Cut Trigger?
By Lukman Otunuga, Senior Research Analyst at FXTM, As the coronavirus outbreak creates shockwaves across the globe, central banks and governments are enforcing emergency measures to defend their…
- 22 Mar 2026
CBN Wins Central Bank of the Year Title @13th Global Awards
Central Bank of Nigeria (CBN) has been named Central Bank of the Year 2026 by an awards committee in London. The award recognises the bank’s major reforms that helped stabilise Nigeria’s economy and…
- 18 Feb 2024
Tinubu Assures AU Leaders of Nigeria's readiness to Host African Central Bank
President Bola Tinubu has spoken about Nigeria's readiness to host the African Central Bank in line with the vision of the Abuja Treaty. Addressing African leaders on Saturday, February 17, at the…
- 11 Apr 2022
MTN Nigeria Diversifies into Banking after CBN’s Final Approval for MoMo Bank
MTN Nigeria, has received final approval from Central Bank of Nigeria (CBN) to run a payment service bank, according to a regulatory filing by the operator on Monday. The approval gives the firm the…
- 18 Mar 2026
One SA Bank Equals Nigeria’s Entire Banking Sector - Why Recapitalisation Is Critical for Global Competitiveness
By Blaise Udunze Nigeria has always prided itself as Africa’s largest economy and most populous nation. Currently, its banking sector is confronting a moment of truth that should send shockwaves.…
- 9 May 2024
CBN Unveils List of Licensed Deposit Money Banks
Central Bank of Nigeria (CBN) has released the list of licenced Deposit Money Banks operating in the country. Providing insights into the banking landscape in Nigeria, the list was made public on the…
- 6 Apr 2010
CBN Signs MoU with Malaysian Bank
The Central Bank of Nigeria and Bank Negara Malaysia (Central Bank of Malaysia) has signed a memorandum of understanding to share expertise and exchange relevant information in the areas of banking…
- 15 Jun 2010
Insurance and Banking in Nigeria: Any Relationship?
Under the financial services sector, banks and insurance companies fall within the same tripod, alongside the capital market. As the Central Bank of Nigeria continues in its reform of the banking…
- 18 Jan 2026
Here Are Nigerian Banks That Have Secured Their Licences
Nigeria's banking sector recapitalization, mandated by the Central Bank of Nigeria (CBN) in March 2024, requires banks to meet tiered minimum paid-up capital thresholds by March 31, 2026: ₦500…
- 7 Dec 2018
Airtel Nigeria Banks on 40m Subscribers for “Payment Bank”
Airtel Nigeria is to set up a payment service bank (PSB) in Nigeria, that would help to deliver mobile banking services to its teeming customers, according to Segun Ogunsanya, its managing director.…
- 16 Jul 2014
Emefiele Emerges Chairman ECOWAS Central Bank Governors
Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN) has been elected chairman of Committee of Central Bank Governors of the ECOWAS sub-region. Emefiele who was elected by fellows…
- 13 Feb 2018
CBN Seeks Shell Banks Abolished In Nigeria
The Central Bank of Nigeria (CBN) has called for the abolition of shell banks in the country, saying they serve as institutions for money laundering. Shell banks are institutions that carry out…
- 26 Sept 2025
Amaanah Finance Company Gets CBN’s Licenses to Offer Non-Interest Banking in Nigeria
Central Bank of Nigeria (CBN) has granted an operational license to Amaanah Finance Company, authorising it to operate as a non-interest finance provider, a financial system that operates on profit…
- 31 Aug 2025
Union Bank of Nigeria Completes Merger with Titan Trust Bank
Union Bank of Nigeria, one of the nation’s longest standing financial institutions, today announced the successful completion of its merger with Titan Trust Bank Limited, following final approval…
- 19 Apr 2018
EIB, AfDB to invest US$70m in Development Bank of Nigeria
The European Investment Bank and the African Development Bank have agreed to support the creation of the new Development Bank of Nigeria to strengthen lending for business and agriculture investment…
- 5 May 2009
A Case for Mobile Banking in Nigeria
Nigeria is on the verge of mobile banking explosion, a phenomenon which is expected to push up the number of the banked in the country from a pathetic 15 per cent mark. Recently, the Central Bank of…
- 21 Aug 2016
Emefiele Emerges President, African Central Bank Governors
Mr Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), has been elected as the President, Association of African Central Bank Governors. The election was conducted at the 39th ordinary…
- 24 Oct 2025
Recapitalisation Reality Check: Uncovering the Truth Behind Nigeria’s Banking Boom
By Blaise Udunze When the Central Bank of Nigeria (CBN) announced a new round of bank recapitalisation in March 2024, many expected the leading banks, especially those boasting record-breaking…
- 15 Jun 2021
The World Bank Blames CBN for Nigeria’s Forex Crisis
The World Bank has blamed the Central Bank of Nigeria’s (CBN) management of the foreign exchange regime as the reason for the FX crisis currently being experienced in the country. The World Bank made…
- 26 Oct 2009
US Government Endorses Nigeria’s Banking Reform
The ongoing reforms in the banking sector in Nigeria being implemented by Sanusi Lamido Sanusi , governor of the Central Bank of Nigeria has been endorsed by the United States (US)…
- 17 May 2010
CBN Gives Deadline on Connection to National Central Switch
The Central Bank of Nigeria (CBN) has mandated banks in the country to connect to the National Central Switch (NCS), on or before 14th May, Nigeria CommunicationsWeek can reveal. The central…
- 13 Feb 2024
Alleged $6.2m Fraud: FG Enlists INTERPOL to Arrest 3 Suspects Linked to Emefiele
Federal government has requested the Interpol National Central Bureau to place a Central Bank of Nigeria (CBN) staff and two others on its Red Notice. Monday’s request is connected to an alleged…