30 results
- 14 Apr 2009
FirstBank Adopts International Financial Reporting Standards
First Bank of Nigeria Plc has adopted the International Financial Reporting Standards (IFRS) as certified by the International Accounting Standards Board to further strengthen its corporate…
- 15 Jun 2009
UBA Adopts IFRS, BASEL 2, Global Standards in Governance, Financial Reporting, Risk Management
The United Bank for Africa has announced further changes to its financial reporting, governance, risk and control architecture in line with its standard setting history and ongoing commitment to…
- 27 Oct 2019
Accuity, Union Systems Advocate for Higher Financial Crime Compliance Standard
The September General Meeting of the Association of Chief Compliance Officers of Banks in Nigeria (ACCOBIN) held recently in Lagos. The event which brings together compliance professionals and…
- 3 Jun 2024
Stanbic IBTC Insurance Receives NAICOM’s Approval for 2023 FS
In a significant stride towards international financial reporting standards, Stanbic IBTC Insurance, a subsidiary of Stanbic IBTC Holdings, has emerged as the first insurance company in Nigeria to…
- 25 Mar 2024
NGX RegCo, FRCN Unveil Roadmap for SFRS Adoption
The NGX Regulation Ltd. (NGX RegCo), the regulating body of the Nigerian Exchange Group and Financial Reporting Council of Nigeria (FRCN), at the weekend, jointly launched the roadmap for the…
- 1 Sept 2017
IFRS 15: The New Revenue Framework: What Corporates Need To Know
The financial reporting landscape will witness significant changes in 2018 as the two major standards on Revenue and Financial instruments (IFRS 15 Revenue from contracts with customers and IFRS 9…
- 20 May 2020
FIRS Extends deadline for Submission of Financial Reports
Federal Inland Revenue Service (FIRS) has extended the deadline for the submission of 2019 financial accounts reports under the Common Reporting Standard (CRS) to September 30. Financial institutions…
- 11 Mar 2026
CBN Directs Banks to Activate Anti-Money Laundering Systems
Central Bank of Nigeria (CBN) has issued new baseline standards requiring banks and other financial institutions to deploy automated anti-money laundering systems capable of detecting suspicious…
- 28 May 2012
4 Months after CBN’s Deadline, Banks March Lazily to IFRS
Nigeria banking industry has reported a sluggish progress in the adoption of International Financial Reporting Standards (IFRS), two years after the Central Bank of Nigeria (CBN), began moves to…
- 29 Nov 2021
NAICOM Insists on Implementation of IFRS 17 from Jan 2023
The National Insurance Commission (NAICOM) has said that it would not go back on the proposed implementation of International Financial Reporting Standard (IFRS17) in insurance industry on January 1,…
- 3 Jun 2021
Konga, Standard Chartered Partner to Offer Card Holders Sweet Discounts
Konga, Nigeria’s leading composite e-commerce brand has rolled out a mouthwatering offer for its customers in partnership with foremost financial institution, Standard Chartered (SC) Bank. The offer,…
- 16 Aug 2019
Fidelity Bank Reinforces Commitment to Digital Technology, Adopts Open Banking
In line with its commitment to the adoption of innovative digital technology to drive its retail strategy, reduce cost and improve revenue and returns, Fidelity Bank has signed a Memorandum of…
- 15 Jul 2026
Helios Towers Secures $29m Facility to Expand Across Africa
Standard Bank has partnered with Helios Towers to provide a $29 million Social Documentary Credit Facility. According to the financial services company, this transaction marks Standard Bank's first…
- 12 Apr 2023
NAICOM Sets Deadline for Insurers to Migrate to IFRS17 Finance Reporting Standard
The National Insurance Commission (NAICOM) has said that Insurance Managers would effect from June this year submit their annual reports and accounts based on Financial Reporting Standard (IFRS)17.…
- 21 Jun 2026
MTN Nigeria Commits to Ethical Conduct with IFRS S1, S2 Compliance
MTN Nigeria has raised the bar for corporate disclosure in Africa after publishing its 2025 sustainability report in full compliance with International Financial Reporting Standards S1 and S2. Dr.…
- 19 Aug 2019
Banks Lose N1.1trn to IFRS 9 Rule on Bad Loans
The banking industry lost N1.1 trillion in total assets as a result of compliance with the requirements of the International Financial Reporting Standard (IFRS) 9 on recognition of bad loans. …
- 24 Oct 2019
Standard Chartered, IFC Create $1B Facility to Boost Trade Finance in Emerging Markets
Standard Chartered and International Financial Corporation (IFC), a member of the World Bank Group, have established a US$1.0 billion facility to boost trade finance in emerging markets, helping to…
- 13 Nov 2020
Standard Bank Propels Contactless Payments Across Africa
Standard Bank Group, Africa’s largest financial services organisation by assets, is driving the mass adoption of contactless payments across Africa, as consumers look for safer ways to pay in the…
- 15 Oct 2020
Groups Warn of Cash-Out, New ATM Fraud
The ATM Industry Association (ATMIA) and the PCI Security Standards Council are warning financial institutions and payment processors of an emerging attack known as “cash-out” that breaches and…
- 26 Jun 2014
ITU, Gates Foundation to Promote Global Adoption of Mobile Money
ITU has established a new Focus Group on Digital Financial Services to promote financial inclusion using information and communication technologies (ICT) in response to a proposal from the Bill &…
- 6 Feb 2012
Ecobank Deploys Oracle Flexcube, others
Ecobank Transnational Inc has implemented Oracle Flexcube Universal Banking and Oracle Flexcube Direct Banking solutions, as well as Oracle Financial Services Risk Analytics, to standardize its…
- 16 Dec 2020
iMAL Completes Annual Certification Renewal Exercise with AAOIFI
Path Solutions successfully completes the annual AAOIFI compliance requirements of iMAL. The recertification process of iMAL demonstrates Path Solutions’ ongoing efforts to maintain compliance with…
- 10 Sept 2019
CBN Urges Fintechs, Payment Service Providers to Stick to Standards
The Central Bank of Nigeria has urged financial technology companies, payment service providers and Deposit Money Banks engaged in offering payment solutions to customers to ensure they adhere to…
- 19 May 2022
CBN Proposes Permit for Financial Institutions to Share Customers’ Data
Central Bank of Nigeria (CBN) proposed guidelines that would usher in an ‘open banking‘ era in the country, a key step in creating a standard for how companies exchange digital financial data…
- 11 Jun 2015
Global Economy Integration Drives Nigeria’s Enterprise Business Apps- Sage
A growing focus on promoting sound corporate governance and enforcing regulatory compliance from the Nigerian government, paired with growing foreign investor interest in the country, is driving…
- 19 Jan 2024
Coronation Merchant Bank Strengthens Management Team with New Appointments
Coronation Merchant Bank Limited has announced the appointment of three key experienced professionals to its executive management team. A statement from the Bank explained that the new appointees are…
- 21 Jun 2014
Path Solutions Bags UK GoodAccredited Standard Award for 2014
Path Solutions, the market-leading provider of Islamic banking software solutions and services to the Islamic financial marketplace, said that it has been awarded the GoodAccredited Standard…
- 13 Jan 2022
Azentio Awarded AAOIFI’s Certificate of Compliance for iMAL™ R14.5
Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds advised by Apax Partners, has announced that iMAL™ R14.5, the latest version of the company’s Islamic core…
- 10 Jul 2024
MTN Nigeria Releases 2023 Sustainability Report, Reiterates Commitment to Shared Value
MTN Nigeria, leading ICT Company, announced the release of its 2023 Sustainability Report. The report showcases MTN Nigeria's unwavering dedication to sustainable development, emphasizing the…
- 6 Sept 2020
Income Tax: FIRS Launches Online Portal for Financial Institutions
Federal Inland Revenue Service (FIRS), has launched a new Automatic Exchange of Information-Common Reporting Standard (AEOI-CRS) system for the use of financial institutions in the country. This is…