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POLICYSTREET
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For years, Nigeria’s financial conglomerates have operated in ways that blur the lines between their constituent parts. A bank holds deposits. Its fintech subsidiary processes payments. Its...
United Bank for Africa Plc has announced the appointment of Mr. Emmanuel N. Nnorom as its next Group Chairman, effective 21 August 2026, following the scheduled retirement of Mr. Tony O. Elumelu from...
Nigeria enters the July 2026 MPC meeting with an economy that is expanding but still constrained, and a stabilisation effort that is incomplete rather than finished. Real GDP grew by 3.89 percent in...
The Central Bank of Nigeria's Monetary Policy Committee holds its 306th meeting on 20 – 21 July 2026, the third of five scheduled sessions this year. The decision it faces is more constrained than the...
Effective today, the Central Bank of Nigeria revoked the operating licences of 46 microfinance banks under Sections 12 and 13 of BOFIA 2020, approved by Governor Cardoso. The stated grounds:...
When Nigeria's Central Bank raises its interest rate, commercial banks raise the rates they charge borrowers quickly and by a large amount. When the Central Bank cuts its rate, commercial banks reduce...
Ecobank Transnational Incorporated, the pan-African banking group, has approved a dividend distribution of $40 million to shareholders following its 38th Annual General Meeting held in Lomé, Togo on...
Nigeria now moves more than ₦1 quadrillion a year through electronic payments, based on Nigeria Inter‑Bank Settlement System (NIBSS) data for 2024. That means money sent by bank transfer, card, mobile...
The Central Bank of Nigeria (CBN) has increased the maximum amount that Nigerian students can receive in foreign exchange for tuition payments abroad to 25,000 dollars per semester, up from 15,000...
The Central Bank of Nigeria (CBN) has carried out a full reshuffle of its four deputy governors, reassigning each of them to a new directorate with effect from 1 June 2026, according to updated...
Retail loans decline despite rise in consumer credit to ₦3.81 trillion in January Nigeria’s consumer credit outstanding rose to about ₦3.81 trillion in January 2026, up 0.79% from ₦3.78 trillion in...
Nigeria's central bank held its benchmark interest rate at 26.5% at the 305th Monetary Policy Committee meeting on 19–20 May 2026; a pause that reflects growing caution rather than confidence. After...