Financial Services Archives - Nairametrics https://nairametrics.com/category/industries/financial-services/ Destination for Business news and analysis from Africa's largest economy Tue, 08 Jul 2025 17:56:31 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Financial Services Archives - Nairametrics https://nairametrics.com/category/industries/financial-services/ 32 32 201037849 CBN deadline: Nigerian banks race to file capital restoration plans by July 14 https://nairametrics.com/2025/07/08/cbn-deadline-nigerian-banks-race-to-file-capital-restoration-plans-by-july-14/ https://nairametrics.com/2025/07/08/cbn-deadline-nigerian-banks-race-to-file-capital-restoration-plans-by-july-14/#respond Tue, 08 Jul 2025 17:56:31 +0000 https://nairametrics.com/?p=518736 Nigerian commercial banks are scrambling to meet the Central Bank of Nigeria’s (CBN) July 14 deadline for submission of Capital Restoration Plans, as the apex bank moves to phase out the regulatory forbearance regime introduced during the COVID-19 pandemic. 

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]]> https://nairametrics.com/2025/07/08/cbn-deadline-nigerian-banks-race-to-file-capital-restoration-plans-by-july-14/feed/ 0 518736 NCC releases licensing framework to regulate A2P messaging, targets N10 million licence fee  https://nairametrics.com/2025/07/08/ncc-releases-licensing-framework-to-regulate-a2p-messaging-targets-n10-million-licence-fee/ https://nairametrics.com/2025/07/08/ncc-releases-licensing-framework-to-regulate-a2p-messaging-targets-n10-million-licence-fee/#respond Tue, 08 Jul 2025 12:58:24 +0000 https://nairametrics.com/?p=518710 The Nigerian Communications Commission (NCC) has released a new regulatory framework for Application-to-Person (A2P) messaging services, marking a significant move to sanitize the country’s fast-growing automated messaging space and plug revenue leakages in the telecoms sector. The framework introduces a mandatory licensing regime for all businesses, telecom operators, and aggregators that deliver bulk messages from […]

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]]> https://nairametrics.com/2025/07/08/ncc-releases-licensing-framework-to-regulate-a2p-messaging-targets-n10-million-licence-fee/feed/ 0 518710 Kuda processes N14.3 trillion in transactions in Q1 2025  https://nairametrics.com/2025/07/08/kuda-processes-n14-3-trillion-in-transactions-in-q1-2025/ https://nairametrics.com/2025/07/08/kuda-processes-n14-3-trillion-in-transactions-in-q1-2025/#respond Tue, 08 Jul 2025 11:43:15 +0000 https://nairametrics.com/?p=518705 Nigeria’s digital bank, Kuda Technologies, has revealed that it processed N14.3 trillion worth of transactions across more than 300 million dealings in the first quarter of 2025. 

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]]> https://nairametrics.com/2025/07/08/kuda-processes-n14-3-trillion-in-transactions-in-q1-2025/feed/ 0 518705 CBN clarifies NRBVN charges, says BVN enrolment remains free for Nigerians in Nigeria  https://nairametrics.com/2025/07/07/cbn-clarifies-nrbvn-charges-says-bvn-enrolment-remains-free-for-nigerians-in-nigeria/ https://nairametrics.com/2025/07/07/cbn-clarifies-nrbvn-charges-says-bvn-enrolment-remains-free-for-nigerians-in-nigeria/#comments Mon, 07 Jul 2025 08:24:42 +0000 https://nairametrics.com/?p=518606 The Central Bank of Nigeria (CBN) has dispelled recent rumours circulating on social media about the introduction of new or hidden charges related to the Bank Verification Number (BVN) system, stating clearly that BVN enrolment for Nigerians residing in the country remains entirely free of charge. The apex bank, in a statement released on Monday, […]

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]]> https://nairametrics.com/2025/07/07/cbn-clarifies-nrbvn-charges-says-bvn-enrolment-remains-free-for-nigerians-in-nigeria/feed/ 2 518606 The 10 most profitable listed companies in Nigeria – 2024   https://nairametrics.com/2025/07/05/the-10-most-profitable-listed-companies-in-nigeria-2024/ https://nairametrics.com/2025/07/05/the-10-most-profitable-listed-companies-in-nigeria-2024/#respond Sat, 05 Jul 2025 12:47:13 +0000 https://nairametrics.com/?p=518524 Nigeria’s most profitable companies wrapped up 2024 with a remarkable display of resilience, collectively posting record-breaking earnings.

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]]> https://nairametrics.com/2025/07/05/the-10-most-profitable-listed-companies-in-nigeria-2024/feed/ 0 518524 CBN Recapitalization: BDC operators eye acquisitions, takeovers to meet N2 billion requirement  https://nairametrics.com/2025/07/05/cbn-recapitalization-bdc-operators-eye-acquisitions-takeovers-to-meet-n2-billion-requirement/ https://nairametrics.com/2025/07/05/cbn-recapitalization-bdc-operators-eye-acquisitions-takeovers-to-meet-n2-billion-requirement/#respond Sat, 05 Jul 2025 09:14:22 +0000 https://nairametrics.com/?p=518515 Bureau De Change (BDC) operators under the aegis of the Association of Bureau De Change Operators of Nigeria (ABCON) have hinted at the possibility of mergers, acquisitions, and takeovers by their members to meet the new capital requirement set by the Central Bank of Nigeria (CBN). 

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]]> https://nairametrics.com/2025/07/05/cbn-recapitalization-bdc-operators-eye-acquisitions-takeovers-to-meet-n2-billion-requirement/feed/ 0 518515 GTB, UBA resume international transactions on naira cards with varying spending limits  https://nairametrics.com/2025/07/04/gtb-uba-resume-international-transactions-on-naira-cards-with-varying-spending-limits/ https://nairametrics.com/2025/07/04/gtb-uba-resume-international-transactions-on-naira-cards-with-varying-spending-limits/#comments Fri, 04 Jul 2025 20:54:07 +0000 https://nairametrics.com/?p=518500 Several Nigerian commercial banks have resumed international transactions on Naira-denominated debit cards, after nearly three years of suspension, allowing customers to make payments on global platforms once again.  

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]]> https://nairametrics.com/2025/07/04/gtb-uba-resume-international-transactions-on-naira-cards-with-varying-spending-limits/feed/ 1 518500 10 African Central Banks exploring digital currencies in 2025  https://nairametrics.com/2025/07/04/10-african-central-banks-exploring-digital-currencies-in-2025/ https://nairametrics.com/2025/07/04/10-african-central-banks-exploring-digital-currencies-in-2025/#respond Fri, 04 Jul 2025 15:08:18 +0000 https://nairametrics.com/?p=518475 Currently, African countries are actively researching, piloting, or rolling out Central Bank Digital Currencies (CBDCs), a testament to the continent’s growing commitment to fintech innovation and financial inclusion.

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]]> https://nairametrics.com/2025/07/04/10-african-central-banks-exploring-digital-currencies-in-2025/feed/ 0 518475 Court upholds CBN-backed NIBSS Authority to manage BVN Database nationwide  https://nairametrics.com/2025/07/04/court-upholds-cbn-backed-nibss-authority-to-manage-bvn-database-nationwide/ https://nairametrics.com/2025/07/04/court-upholds-cbn-backed-nibss-authority-to-manage-bvn-database-nationwide/#comments Fri, 04 Jul 2025 13:11:31 +0000 https://nairametrics.com/?p=518472 The Federal High Court in Abuja on Friday affirmed the legality of the Nigeria Inter-Bank Settlement System Plc’s (NIBSS) management of the Bank Verification Number (BVN) database across Nigeria, in line with the Central Bank of Nigeria (CBN) Act and other relevant banking laws. 

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]]> https://nairametrics.com/2025/07/04/court-upholds-cbn-backed-nibss-authority-to-manage-bvn-database-nationwide/feed/ 1 518472 Moody’s downgrades Afreximbank’s credit rating to Baa2, citing sovereign lending risks  https://nairametrics.com/2025/07/04/moodys-downgrades-afreximbanks-credit-rating-to-baa2-citing-sovereign-lending-risks/ https://nairametrics.com/2025/07/04/moodys-downgrades-afreximbanks-credit-rating-to-baa2-citing-sovereign-lending-risks/#comments Fri, 04 Jul 2025 09:28:37 +0000 https://nairametrics.com/?p=518442 Global credit rating agency, Moody’s, has downgraded the long-term issuer and senior unsecured ratings of the African Export-Import Bank (Afreximbank) from Baa1 to Baa2, while revising the outlook from negative to stable.  

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]]> https://nairametrics.com/2025/07/04/moodys-downgrades-afreximbanks-credit-rating-to-baa2-citing-sovereign-lending-risks/feed/ 1 518442 Credit to Private sector slips marginally to N77.83 trillion in May 2025 despite surging money supply  https://nairametrics.com/2025/07/03/credit-to-private-sector-slips-marginally-to-n77-83-trillion-in-may-2025-despite-surging-money-supply/ https://nairametrics.com/2025/07/03/credit-to-private-sector-slips-marginally-to-n77-83-trillion-in-may-2025-despite-surging-money-supply/#respond Thu, 03 Jul 2025 06:54:55 +0000 https://nairametrics.com/?p=518386 Nigeria’s private sector credit declined marginally to N77.83 trillion in May 2025, down from N77.91 trillion in April, as the Central Bank of Nigeria (CBN) sustained its tight monetary stance to combat headline inflation and stabilize the naira. 

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]]> https://nairametrics.com/2025/07/03/credit-to-private-sector-slips-marginally-to-n77-83-trillion-in-may-2025-despite-surging-money-supply/feed/ 0 518386 IMF backs CBN’s tight monetary policy to curb inflation https://nairametrics.com/2025/07/02/imf-backs-cbns-tight-monetary-policy-to-curb-inflation/ https://nairametrics.com/2025/07/02/imf-backs-cbns-tight-monetary-policy-to-curb-inflation/#respond Wed, 02 Jul 2025 19:31:27 +0000 https://nairametrics.com/?p=518368 The International Monetary Fund (IMF) has backed the Central Bank of Nigeria’s (CBN) sustained tight monetary policy stance, describing it as a critical tool in managing inflation and safeguarding macroeconomic stability. 

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]]> https://nairametrics.com/2025/07/02/imf-backs-cbns-tight-monetary-policy-to-curb-inflation/feed/ 0 518368 African countries launch continental payment card, PAPSSCARD to strengthen trade integration  https://nairametrics.com/2025/07/01/african-countries-launch-continental-payment-card-papsscard-to-strengthen-trade-integration/ https://nairametrics.com/2025/07/01/african-countries-launch-continental-payment-card-papsscard-to-strengthen-trade-integration/#comments Tue, 01 Jul 2025 06:56:41 +0000 https://nairametrics.com/?p=518233 Africa has taken a landmark step toward financial independence with the launch of PAPSSCARD, the continent’s first Pan-African card payment scheme.  

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]]> https://nairametrics.com/2025/07/01/african-countries-launch-continental-payment-card-papsscard-to-strengthen-trade-integration/feed/ 3 518233 Nigeria’s money supply records second drop in 2025, falls to N119 trillion  https://nairametrics.com/2025/06/30/nigerias-money-supply-records-second-drop-in-2025-falls-to-n119-trillion/ https://nairametrics.com/2025/06/30/nigerias-money-supply-records-second-drop-in-2025-falls-to-n119-trillion/#respond Mon, 30 Jun 2025 17:30:07 +0000 https://nairametrics.com/?p=518196 Nigeria’s broad money supply declined for the second time this year, falling slightly to N119.01 trillion in May 2025, according to fresh data from the Central Bank of Nigeria (CBN). 

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]]> https://nairametrics.com/2025/06/30/nigerias-money-supply-records-second-drop-in-2025-falls-to-n119-trillion/feed/ 0 518196 Supreme Court Judgment: CBN Governor agrees to settle with Consultant over Committal suit  https://nairametrics.com/2025/06/30/supreme-court-judgment-cbn-governor-agrees-to-settle-with-consultant-over-committal-suit/ https://nairametrics.com/2025/06/30/supreme-court-judgment-cbn-governor-agrees-to-settle-with-consultant-over-committal-suit/#respond Mon, 30 Jun 2025 15:56:46 +0000 https://nairametrics.com/?p=518189 The CBN Governor's lawyer, Yusuf Ali SAN, disclosed the development to Justice Mohammed Umar during Monday's proceedings. 

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]]> https://nairametrics.com/2025/06/30/supreme-court-judgment-cbn-governor-agrees-to-settle-with-consultant-over-committal-suit/feed/ 0 518189 TAJBank assets near N1 trillion as non-interest lender posts 84% growth in 2024  https://nairametrics.com/2025/06/30/tajbank-assets-near-n1-trillion-as-non-interest-lender-posts-84-growth-in-2024/ https://nairametrics.com/2025/06/30/tajbank-assets-near-n1-trillion-as-non-interest-lender-posts-84-growth-in-2024/#respond Mon, 30 Jun 2025 14:24:21 +0000 https://nairametrics.com/?p=518163 TAJBank Limited reported an 84% increase in total assets in its full-year 2024 financial performance, rising from N518.33 billion in 2023 to N953.10 billion.

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]]> https://nairametrics.com/2025/06/30/tajbank-assets-near-n1-trillion-as-non-interest-lender-posts-84-growth-in-2024/feed/ 0 518163 Open banking: CBN cautions Nigerian banks, fintechs on cybersecurity risks  https://nairametrics.com/2025/06/28/open-banking-cbn-cautions-nigerian-banks-fintechs-on-cybersecurity-risks/ https://nairametrics.com/2025/06/28/open-banking-cbn-cautions-nigerian-banks-fintechs-on-cybersecurity-risks/#respond Sat, 28 Jun 2025 13:37:21 +0000 https://nairametrics.com/?p=518042 The Central Bank of Nigeria (CBN) has warned Nigerian banks and fintechs to be wary of cybersecurity risks as they move into open banking. 

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]]> https://nairametrics.com/2025/06/28/open-banking-cbn-cautions-nigerian-banks-fintechs-on-cybersecurity-risks/feed/ 0 518042 Afreximbank’s financing to Nigeria’s economy exceeds $50 billion – Edun  https://nairametrics.com/2025/06/28/afreximbanks-financing-to-nigerias-economy-exceeds-50-billion-edun/ https://nairametrics.com/2025/06/28/afreximbanks-financing-to-nigerias-economy-exceeds-50-billion-edun/#respond Sat, 28 Jun 2025 10:43:54 +0000 https://nairametrics.com/?p=518028 Nigeria's Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said that the African Export-Import Bank (Afreximbank) has provided over $50 billion in financing to Nigeria for major projects.  

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]]> https://nairametrics.com/2025/06/28/afreximbanks-financing-to-nigerias-economy-exceeds-50-billion-edun/feed/ 0 518028 AAM2025: Afreximbank’s support for Dangote Refinery hits over $4 billion — Benedict Oramah https://nairametrics.com/2025/06/28/aam2025-afreximbanks-support-for-dangote-refinery-hits-over-4-billion-benedict-oramah/ https://nairametrics.com/2025/06/28/aam2025-afreximbanks-support-for-dangote-refinery-hits-over-4-billion-benedict-oramah/#respond Sat, 28 Jun 2025 09:27:04 +0000 https://nairametrics.com/?p=518022 The outgoing President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), Prof. Benedict Oramah, has disclosed that the bank has so far supported the Dangote Refinery and Petrochemical Industry with “over $4 billion” in interventions. He made this disclosure during his closing speech on Friday at the Afreximbank 32nd Annual […]

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]]> https://nairametrics.com/2025/06/28/aam2025-afreximbanks-support-for-dangote-refinery-hits-over-4-billion-benedict-oramah/feed/ 0 518022 How to apply for CREDICORP’s N100,000 Inventory Loan for market women in Nigeria  https://nairametrics.com/2025/06/28/how-to-apply-for-credicorps-n100000-inventory-loan-for-market-women-in-nigeria/ https://nairametrics.com/2025/06/28/how-to-apply-for-credicorps-n100000-inventory-loan-for-market-women-in-nigeria/#comments Sat, 28 Jun 2025 08:50:14 +0000 https://nairametrics.com/?p=518017 The Federal Government, through the Nigerian Consumer Credit Corporation (CREDICORP), in partnership with Sytiamo Technologies, has launched an inventory finance scheme targeting 10,000 market women across 224 markets in Nigeria  

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]]> https://nairametrics.com/2025/06/28/how-to-apply-for-credicorps-n100000-inventory-loan-for-market-women-in-nigeria/feed/ 14 518017