CBN revokes licences of NowNow, Sycamore, Creditville, OurPass and Casha Microfinance Banks

The Central Bank of Nigeria has revoked the operating licences of 46 microfinance banks, including fintech-linked NowNow, Sycamore, Creditville, OurPass and Casha.

The CBN wants to know the hidden faces behind Nigerian fintech solutions

The CBN is asking for clear data on the ownership structure of Nigerian Fintech firms

Providus and Unity Bank complete merger, begin operations as ProvidusUnity Bank

Providus Bank and Unity Bank have completed their merger and officially commenced operations as ProvidusUnity Bank, creating a larger institution as Nigeria's banking sector consolidates.

Is the African Monetary Union 2030 target achievable? Ugo Umeseaka, COO of Redtech, shed light on this

Redtech COO Ugo Umeseaka explains why Africa's 2030 monetary union target is unlikely and why cross-border payments matter more than a single currency.

CBN orders banks to assess their own cybersecurity within 21 days

CBN has given Nigerian banks 21 days to complete a cybersecurity self-assessment, warning that false submissions will attract sanctions under BOFIA 2020.

CBN’s new AML rules give fintechs 90 days to prove they can monitor transactions

FInancial institutions have 18–24 months to comply and 90 days to submit a roadmap.

OPay is losing Nigeria’s PoS agents to Moniepoint as CBN deadline nears

As the April 1 deadline approaches, thousands of OPay devices that were once active in Ekiti and beyond could be returned.

Cardoso’s CBN cuts government advances by 58%, signaling new fiscal discipline

This reduction marks a significant departure from the previous era under former CBN Governor Godwin Emefiele.

No pressure, Cardoso: CBN holds rate at 27.50%

This marks an ending to a rate tightening cycle since CBN Governor Yemi Cardoso took office in September 2023

CBN never said buying dollars in Nigeria was illegal, in the first place

Although the CBN has said and done a lot to curtail the circulation of dollars in Nigeria, the July 19 MPC meeting wasn't one of those days.

BD Insider 179: CBN returns BDC to the forex market with a new rule

The Central Bank of Nigeria has reversed its stance on the operations of BDCs. We also shared a roundup of happenings in the African tech ecosystem.

BD Insider 166: Examining the controversies at Binance and the CBN

In this letter, we examined the suspension of Godwin Emefiele, the governor of the Central Bank of Nigeria and the local regulator's stance on Binance operations in Nigeria.