Banking

The Central Bank of Nigeria (CBN) has debunked reports suggesting that it's planning to replace the Naira notes in circulation with digital currency, the eNaira in due course. Mr Osita Nwanisobi, CBN Director, Corporate Communication,…

Payments and digital loan firm OPay has announced a new partnership with Mastercard that will see it offer Mastercard’s virtual payment solution. The Partnership will enable OPay customers to pay on global online platforms backed by…

MoMo Payment Service Bank is a fully registered limited liability compony with Corporate Affairs Commission (CAC) and licensed by the Central Bank of Nigeria (CBN) to offer financial services as outlined in the PSB Framework. This enables…

Sterling Bank has appointed the former Independent Director at First Bank of Nigeria, Olusola Oworu. Sterling Bank board appointed the former Special Adviser on Commerce & Industry to ex-Governor of Lagos State, Babatunde Fashola as…

For a good banking experience, you need to avail yourself with multiple ways of carrying out your transactions. Most especially, credit transactions as that could be used for settling bills, making subscriptions, purchases and for other…

MTN, has received final approval from Nigerian regulators to run a payment service bank, the wireless carrier said in a regulatory filing on Monday. After waiting for over 2 years for the permit, MTN Group LTD now have the leave to…

The Central Bank of Nigeria (CBN) has ordered Deposit Money Banks to stop bringing “composed banknotes” as part of their deposits with the apex bank. The warning is contained in a circular issued in Abuja by Ahmed Umar, the Director,…

All Nigerian banks have placed restriction on international transaction with Naira MasterCard. Spend limit has now been limited to $20 except First bank which is pegged at $50. What does this mean? It means is that Shopping online from…

It has been a rough period for importers of goods and services as different polices keeps emerging everyday. One of the recent is the reviewing a Naira master debit card to the minimum of $20 spend limit. Last month, the United Bank for…

United Bank of Africa (UBA) says it has lowered the international spending limit on its naira cards to $20 a month. The financial institution disclosed this in an email sent to its customers on Thursday. According to the bank, the…

Zenith Bank and Guaranty Trust Bank have retained their places on the list of Nigeria’s most valued banks for the first month of 2022. Last month that Zenith Bank started the new year as Nigeria’s most valuable commercial bank, with the…

Believers Loveworld Nation, popular known as Christ Embassy, has officially launched its own commercial financial institution, called Parallex Bank, with a view to redefining customer experience through digital innovation. Parallex was…

The Nigerian Central Bank Digital Currency (CBDC), known as the eNaira was officially unveiled yesterday by President Muhammadu Buhari and it's now live. The eNaira will serve as a digital legal tender and carries the same value as the…

The much anticipated Nigerian digital currency, e-Naira has finally been officially unveiled today at the country's State House in Abuja. mNaija recall that the Central Bank of Nigeria (CBN) had earlier announced that President Muhammadu…

The Central Bank of Nigeria, CBN, has announced that President Muhammadu Buhari will officially unveil the e-Naira on Monday, October 25, 2021. mNaija recalled that the CBN had on September 30 suspended the launch of its digital…

Nigerian billionaire businessman and investor, Femi Otedola, on Friday, reportedly took over First Bank of Nigeria Plc. According to The Street Journal, Otedola took over the bank with the acquisition of about ₦30 billion worth of…

The Central bank of Nigeria CBN recently postponed the launch of the eNaira indefinitely. The digital currency was supposed to be unveiled on October 1st, 2021. However, the postponement is not preventing banks from onboarding the eNaira…

The Central Bank of Nigeria (CBN) has suspended the launch of its digital currency, called e-Naira. This is coming hours to its scheduled launch on October 1st – Independence Day. The suspension of the launch was announced by CBN…

The Central Bank of Nigeria, CBN, has launched the official website for the upcoming digital currency, eNaira. The development is coming exactly a week to the planned launch of the initiative. According to analytics monitored by This…

The Central Bank of Nigeria (CBN) said that it has no plan to convert the foreign exchange in domiciliary accounts of bank customers into naira as speculated. This was disclosed by the Acting Director in charge of Corporate…