SECTOR INSIGHT

American Express Co. has unveiled its first business credit card in Nigeria through a collaboration with local neobank O3 Capital, potentially enhancing dollar accessibility for businesses in the West African nation. The new card, introduced on Thursday in Lagos, Nigeria’s commercial capital, offers…

Tunde Hassan-Odukale has stepped down as the Chairman of First Bank of Nigeria Limited. Updating the Nigerian Exchange Group of recent development within the bank, the company’s Secretary, Adewale Arogundade, in a notice on Thursday, said Hassan-Odukale’s exit followed the completion of the…

In line with the disclosure requirements of the Securities and Exchange Commission (SEC) and the Nigerian Exchange (NGX) Limited, Access Holdings Plc has announced the award of 23.8 million ordinary shares to some of its senior executives and executives of Access Bank,…

In a significant move, the Central Bank of Nigeria (CBN) has issued a directive for all banks to implement a 0.5% cybersecurity levy on all electronic transactions to bolster cyber defences. However, in a bid to mitigate the impact on essential services…

The Central Bank Of Nigeria (CBN) has issued a July 7, 2024 deadline for Point of Sales (PoS) operators to complete registration with the Corporate Affairs Corporation (CAC). This was revealed during a meeting between Fintechs and the Registrar-General/Chief Executive Officer (CAC) Hussaini…

Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN) has said the bank is not strengthening the Naira with the country’s foreign reserves. Speaking at the ongoing Spring Meetings of the International Monetary Fund (IMF) and the World Bank, Cardoso said the Naira…

The Central Bank of Nigeria, CBN has reduced the Loan to Deposit Ratio, LDR of banks to 50 per cent from 65 percent. The reduction was announced via a circular to Deposit Money Banks titled “Re: Regulatory Measures to Improve Lending to the…