ARM, a leading investment management firm, has announced the launch of its 5th cohort for the Innovation Program which aims to support and empower early-stage startups and entrepreneurs in the fields of Fintech, PenTech (Penetration Testing Technology), Data Intelligence, and Digital Trade. The company provides a wide range of […]
FinTech
The Central Bank of Nigeria (CBN) has authorized foreign banks to work with their parent companies for the purpose of syndicating foreign currency-denominated loans (dollar loans) with the aim at improving dollar liquidity through foreign banks’ representatives in Nigeria. The Director of the Financial Policy and Regulation Department, Muhammad […]
The Central Bank of Nigeria (CBN) says that only 57.4 million individuals out of Nigeria’s population of over 200 million have a Bank Verification Number (BVN). The BVN project was launched in February 2014 in collaboration with the Nigerian Interbank Settlement System (NIBSS), the Bankers’ Committee, and deposit money […]
Zenith Bank, the largest bank in Nigeria based on market capitalization, has left millions of customers in a difficult situation as they are facing a complete infrastructure outage due to a fire that broke out in their main data center. The outage is affecting the bank’s services, and at a […]
The African Development Bank has signed a $525,000 grant agreement with Africa Fintech Network (AFN) for the setup of the Africa Fintech Hub, an online portal and digital platform that will enable fintech associations across Africa to pool resources and knowledge, strengthen relationships and partnerships, as well as showcase the […]
The Director-General of the Small and Medium Enterprises Development Agency (SMEDAN), Olawale Fasanya, says that more than two million businesses in the Nano, Micro, Small, and Medium Enterprises (nMSMEs) category died between 2017 and 2021 alone forcing more than six million Nigerians into the labor market. He explains through […]
Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has launched its @ease Savings Challenge which commenced 01 March 2023 and is set to run till 08 June 2023 where participants will have 100 days to save a minimum of N1,000 daily or N7,000 weekly in their Stanbic IBTC […]
Commodity Futures Trading Commission (CFTC) has sued the world’s biggest cryptocurrency exchange, Binance, for operating an “illegal” exchange and a “sham” compliance program. CFTC sued the firm for cultivating US business while failing to properly register with authorities according to reports. Binance said “This filing is unexpected and disappointing, as […]
The Central Bank of Nigeria (CBN) has confirmed the evacuation of banknotes from its vaults to commercial banks across the country as part of a coordinated effort to ease the circulation of banknotes of various denominations and further directed all commercial banks to open for operation on Saturdays and Sundays. […]
In a Bid to prevent the panic affecting the banking sector since the recent week’s crash of Silicon Valley Bank (SVB), US regulators shut down New York-based Signature Bank. However, the attention of the Signature Bank Limited, a Nigerian financial institution, has been drawn to recent news surrounding the closure […]