Telcos, Banks Get March Ultimatum on Airtime Refunds   Banks and telecommunications operators in Nigeria have been given a March 1, 2026, deadline to fully implement a new refund framework aimed at resolving persistent consumer complaints over failed airtime and data transactions. The deadline follows the conclusion...

Banks' Bad Loans Surge as CBN Ends Forbearance   Nigeria’s banking sector recorded a rise in bad loans in 2025 after the Central Bank of Nigeria withdrew the regulatory forbearance granted to lenders during the COVID-19 pandemic, according to the apex bank’s latest macroeconomic outlook report. The...

Nigerian Banks Strengthen Capital Base Amid CBN Regulatory Push   Deposit Money Banks are shoring up their capital base as the Central Bank of Nigeria (CBN) intensifies oversight, reinforcing governance, transparency, and risk management to ensure a resilient, stable financial system. Nigeria’s banking system remains stable and...

CBN Directs Banks to Reimburse APP Fraud Victims within 48 Hours The Central Bank of Nigeria has ordered banks and other financial institutions to reimburse victims of Authorised Push Payment (APP) fraud within 48 hours, marking one of the strongest regulatory moves yet to protect...

House of Reps Investigates Banks Over Tax Deductions, Multiple Charges   The House of Representatives has inaugurated an ad-hoc committee to investigate growing concerns over excessive tax deductions from the earnings of civil and public servants, as well as multiple and unclear bank charges imposed on...

Reps to Question CBN, Banks over Arbitrary Charges The House of Representatives on Tuesday resolved to probe what it described as the “arbitrary, excessive, and unexplained” charges drawn from customers’ accounts by money deposit banks operating in the country. The resolution of the House was a...