MTN Acquires Licence to Establish Bank In Nigeria The Central Bank of Nigeria (CBN) has approved the establishment of MTN's Mobile Money (MoMo) Payment Service Bank. Mobile money allows users to send and receive money, make payments, and perform other transactions using their mobile phones. Also Read:...

CBN: Nigeria Generates N29.95 Billion From Exportation of Electricity The Central Bank of Nigeria data report has revealed that Nigeria generated a sum of $72 million from electricity export in 2021, a naira equivalent of N29.95 billion, using the official exchange rate of N416/$1. This is...

CBN Approves DLM Capital's Links Microfinance Bank The Central Bank of Nigeria (CBN) has approved DLM Capital Group's acquisition of Links Microfinance Bank. DLM Capital Group comprises of subsidiaries in investment banking, trustees, securities trading, FX, digital banking, asset management, nominees, and corporate lending. This approval is...

CBN Grant: 30 Tertiary Institutions Compete For N950m The Central Bank of Nigeria (CBN) has shortlisted 30 tertiary institutions across the country to participate in its Maiden Tertiary Institutions Entrepreneurship Scheme (TIES). The program aimed to provide grant to empower institutions develop award-winning innovations and support...

Crypto Transactions: CBN Slams Fidelity, FCMB, Four Other Banks N1.31bn Fine The Central Bank of Nigeria (CBN) has penalized six banks for N1.314 billion for alleged non-compliance with cryptocurrency account regulations. The banks include Stanbic IBTC, First City Monument Bank (FCMB), Access Bank, Wema Bank,...

CBN: Nigerians Should Shun Activities With Unlicensed Financial Operators A Financial Services Regulation Coordinating Committee (FSRCC) of the Central Bank of Nigeria has warned Nigerians to stop doing business with unlicensed and illegal financial operators in the country. The commitee report says that the illegal financial...