The National Information Technology Development Agency (NITDA) has reaffirmed its commitment to strengthening Nigeria’s digital sovereignty and protecting the nation’s critical digital infrastructure through its partnership with the Central Bank of Nigeria (CBN) to advance the implementation of the National Sovereign Cloud Initiative and data localisation. NITDA Director General, Kashifu […]
Central Bank of Nigeria (CBN)
Nigeria’s banking industry remains one of the most tightly regulated sectors of the economy. Oversight is provided by the Central Bank of Nigeria (CBN), which issues operating licenses to banks based on capital adequacy, governance standards, risk management, and regulatory compliance. A bank’s license determines how far it can operate, […]
The Computer Guild of Nigeria (CGN) has strongly condemned the recent suspension of Remita, an indigenous payment solution, from the Treasury Single Account (TSA) by the Federal Government (FG). This was contained in a press release issued by the President of the Guild, Wole Adedoyin, who described the decision as […]
With a big shift from its previous focus on business-to-business transactions, Paystack, a Nigerian fintech company owned by Stripe, has launched Zap, a consumer app designed for instant and secure bank transfers marking a grand entry into the consumer payments space. This was disclosed during a live stream on YouTube […]
By Andrew Agbo Abu Nigeria’s technology ecosystem is brimming with potential, yet access to funding remains a persistent challenge. Despite the existence of funding instruments like the CBN intervention funds, the Development Bank of Nigeria (DBN) innovation financing, and Bank of Industry (BOI) startup support, the disbursement of these funds […]
Microsoft has announced a significant investment of $1 million to equip one million Nigerians with Artificial Intelligence (AI) skills over the next two years. This announcement was made by the Managing Director, Microsoft Nigeria and Ghana, Ola Williams, during the Microsoft AI Tour, which was held in Lagos. According to […]
The Cloud Network Foundation (CNF) has urged the Federal Government to reconsider the new ATM withdrawal charges recently introduced by the Central Bank of Nigeria (CBN), warning that such policies will further worsen the financial strain on Nigerians. The CBN, in its latest directive, announced that customers will now be […]
The former CEO of FirstBank, Adesola Adeduntan, has launched a new financial services firm called Sequoia Financial Services Limited. This was revealed by Adeduntan on LinkedIn where he shared his excitement stating, “I am happy to share that I am starting a new role as President and Founder of Sequoia […]
The Central Bank of Nigeria (CBN) has imposed fines totaling N1.35 billion on nine commercial banks, including First Bank, Union Bank, and seven others, for failing to ensure cash availability via Automated Teller Machines (ATMs) during the festive season. Each of the affected banks which includes: Fidelity Bank Plc, First […]
National Identity Management Commission (NIMC) has said that the new National Identification Number (NIN) card can be used by Nigerians for financial transactions including payments and cash withdrawals, in addition to being used as a means of identification. Kayode Adegoke, head of Corporate Communications, and Peter Iwegbu, director of Card […]