NIBSS National Payment Stack sees first live transaction by PalmPay and Wema Bank
PalmPay and Wema Bank complete Nigeria’s first live transaction on NIBSS National Payment Stack, signaling a new era in digital payments.
Banks
Africa’s top 20 banks: 2025 rankings
The rankings show a strong continuation of dominance by financial institutions from South Africa, Egypt, and Morocco, with notable performances from Nigerian and Kenyan banks.
Tinubu requests Senate approval for $2.35bn external loan, $500m Sukuk issuance
President Tinubu has asked the House of Representatives to approve $2.35bn in external borrowing and a $500m sovereign Sukuk to support the 2025 budget and refinance maturing Eurobonds.
YouTube, rising giant of U.S. media, banks on AI to drive future content creation
Celebrating 20 years, YouTube unveiled AI-driven tools, stressing they will aid creators not replace them as the platform surpasses Disney in U.S. media dominance.
Cardoso urges banks to achieve $1bn monthly diaspora remittance goal
Cardoso urges banks to achieve $1bn monthly diaspora remittance goal
CBN gives banks 60 days to geo-tag payment terminals or face service interruptions
CBN has mandated Nigerian banks and payment operators to adopt ISO 20022 messaging by October 31 with strict compliance checks and new geolocation rules for payment terminals.
CBN concludes FX audit, begins naira refunds to banks over unfulfilled transactions
“The naira value of all unvalidated and unfulfilled forward transactions has been returned,” the CBN confirmed.
Banks resume Naira card payments for foreign school fees
Nigerian banks have resumed international tuition payments via Naira accounts using CBN’s Form A.
Fast cash, lost privacy: The hidden cost of quick loans in Nigeria
Many loan apps request access to contacts, call logs, and photos—raising serious privacy concerns.
Nigerian banks resume international transactions on naira cards after prolonged suspension
UBA and Wema Bank have reactivated international transactions on naira cards, citing improved FX liquidity and regulatory reforms.