The Central Bank of Nigeria (CBN) has reaffirmed its commitment to strengthening Shariah governance, regulatory clarity, and risk management in the non-interest financial services industry as part of efforts to sustain public confidence, financial stability, and the orderly growth of
The Federal Government say it has intensified efforts to improve participation in the ongoing mandatory verification and enrolment exercise for civil servants with accrued pension rights, following low turnout despite the importance of the exercise. The National Pension Commission (PenCom) in a statement disclosed that it
The National Insurance Commission (NAICOM) has entered into a strategic partnership with the National Space Research and Development Agency (NASRDA) to accelerate the use of geospatial intelligence in expanding Nigeria’s insurance market and strengthening risk management systems. The collaboration, reached
A Federal High Court sitting in Abuja has dismissed in its entirety, a suit by UBA Plc seeking to contest the jurisdiction of the Federal Competition and Consumer Protection Commission (FCCPC). The move is described by the FCCPC in a
The Central Bank of Nigeria (CBN) is alerting members of the public to the circulation of fraudulent messages, emails, and online communications purporting to originate from or be associated with the Bank, which are intended to misinform members of the public. These fraudulent
The Central Bank of Nigeria (CBN), in collaboration with the Financial Markets Dealers Association (FMDA), have announced the introduction of the Nigerian Overnight Financing Rate (NOFR), a standardized benchmark aimed at enhancing transparency, strengthening monetary policy transmission, and deepening Nigeria’s
The Nigeria Deposit Insurance Corporation (NDIC) has commenced the process of concluding the liquidation activities of 89 closed Microfinance Banks (MFBs) and Primary Mortgage Banks (PMBs) following their successful acquisition by new owners under the Purchase and Assumption (P&A) resolution
Signs of internal strain have emerged at the National Insurance Commission (NAICOM), after the regulator confirmed that it moved to contain what it described as an attempt to discredit its leadership from within. The Commission disclosed that the incident, which
The National Insurance Commission (NAICOM) has introduced a new regulatory framework aimed at protecting insurance policyholders from losses arising from failing insurers. The new guidelines, issued in a circular dated April 7, 2026, establish the operational structure for the Insurance
The Central Bank of Nigeria (CBN) announces the successful conclusion of the banking sector recapitalisation programme initiated in March 2024. This was contained in a statement jointly signed by the bank’s Director, Banking Supervision Olabukola Akinwu and Acting Director Corporate
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