How Central Bank of Nigeria Revokes Licenses of Seven Payment Service Providers
It has emerged that the Central Bank of Nigeria (CBN) revoked the licenses of seven (7) payment service providers and…
42 microfinance banks lose licences
The Central Bank of Nigeria (CBN) has withdrawn the operating licenses of 42 microfinance banks (MfBs). The affected banks have…
SEC, FSD Africa to review capital market masterplan
The Securities and Exchange Commission, Nigeria (SEC Nigeria) and Financial Sector Deepening (FSD) Africa have announced the commencement of a…
‘Banks critical to AfCFTA’s success’
The Managing Director, Ecobank Nigeria, Mr Patrick Akinwuntan, says the success of the African Continental Free Trade Area (AfCFTA) will…
Umba Raises $2 million for Digital Banking Expansion in Africa
Africa focused digital bank, Umba has announced the raising of a $2 million seed funding for the expansion of its…
Reps summon finance minister over $36.1m World Bank loan
The House of Representatives has summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed, over a $36.1m facility…
Afreximbank expands Trade Finance Intermediary Initiative
African Export-Import Bank (Afreximbank) recently increased the number of its Trade Finance Intermediaries (TFIs) to more than 65 in 30…
Banks’ non-performing loans hit N1.17tn – NBS
Non-performing loans in the Nigerian banking sector fell by N42.4bn in three months, latest figures from the National Bureau of…
AfCFTA: Afreximbank supports factoring as a viable alternative source of finance for SMEs
The African Export-Import Bank (Afreximbank) considers factoring as a viable alternative financing instrument for supporting Small and Medium-sized Enterprises (SMEs)…
$35bn external reserves enough for seven-month imports — Emefiele
The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said Nigeria’s external reserves, which currently stand at…