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The microfinance sector deserves better attention In line with Sections 12 and 13 of the Banks and Other Financial Institutions Act (BOFIA), 2020, the Central Bank of Nigeria (CB...
The Central Bank of Nigeria clarifies its powers under BOFIA 2020, setting a two-day limit for contract suspensions during troubled bank resolutions. This Read More: https://punch...
Access Bank is currently facing regulatory scrutiny call over alleged refusal to release loan records. NewsOnline Nigeria reports that the Managing Director of Eleo Trust Enterpr...
James Emejo in Abuja The Bank of Industry (BOI), Nigeria’s leading development finance institution, has been named Sustainable Bank of the Year at the 20th edition of the prestigio...
The apex bank said the new measure aims to promote transparency, reduce market concentration risks, and enhance the resilience of the country's payments ecosystem. The post CBN ord...
The Central Bank of Nigeria has issued a sweeping directive to banks and financial institutions following fresh sanctions targeting individuals and companies accused of links to te...
The Central Bank of Nigeria has introduced a N100 million penalty for financial institutions that carry out foreign exchange d
CBN has revoked the operating licences of 46 Microfinance Banks across Nigeria. NewsOnline Nigeria reports that the Central Bank of Nigeria (CBN) has revoked the operating licences...
CBN has proposed a major overhaul of financial holding companies and barred parent firms from loan decisions. NewsOnline Nigeria reports that the Central Bank of Nigeria (CBN) ha...
According to the corporation, the affected banks have ceased to operate as licensed financial institutions and are no longer authorised to carry out banking business in Nigeria. Th...
• Moves to curb market dominance, concentration risk in payments ecosystem James Emejo in Abuja and Nume Ekeghe in Lagos Central Bank of Nigeria (CBN) has ordered banks, fintechs,...
The Central Bank of Nigeria has cancelled the operating licences of 46 microfinance banks following widespread regulatory breaches and financial instability concerns.
The statement further indicated that the revocation was approved by CBN governor, Olayemi Cardoso, following the banks’ failure to meet the regulatory requirements for continued op...
The guidelines seek to establish clear operational and functional boundaries among closely linked entities in the financial system. The post CBN proposes regulation to ring-fence o...
CBN has proposed new rules to separate banks, fintechs and related financial entities. NewsOnline Nigeria reports that the Central Bank of Nigeria (CBN) has unveiled draft guidel...
The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks over their failure to meet regulatory requirements for continued operations. The apex...
Under the directive, financial institutions are required to immediately screen existing customers, beneficial owners, and all incoming and outgoing transactions against the updated...
Anti-corruption activists say inactive companies are often used to secure public contracts while concealing politically exposed persons and ultimate beneficiaries. The post
The CBN noted that the overhaul is necessary after years of implementing the existing framework introduced in 2014 to mitigate the risks arising from the conduct of non-core bankin...
The CBN said the decision became necessary because of one or more regulatory breaches committed by the affected institutions. The post JUST IN: CBN revokes licences of 46 microfina...
Bala Rabiu There is a particular genre of financial commentary that mistakes legal process fora factual verdict. A court delivers a first-instance ruling, procedural questions are...
On May 22, the FDIC approved a proposed rule establishing Bank Secrecy Act (BSA) and sanctions compliance standards for certain FDIC-supervised permitted payment stablecoin issuers...
CBN has ordered banks to freeze accounts of six individuals and four BDCs over terrorism financing allegations. NewsOnline Nigeria reports that the Central Bank of Nigeria (CBN)...
On May 22, 2026, the Federal Deposit Insurance Corporation (FDIC) released proposed rules to implement Bank Secrecy Act (BSA) and sanctions compliance standards applicable to FDIC-...
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