CBN intervened in Union Bank over alleged risky transactions and governance issues, with audit findings pointing to undisclosed financial dealings.
One major benefit of this move is that it makes our banks stronger and better able to handle tough times. With more money in reserve, banks...
The above questions are relevant because they will determine whether recapitalisation becomes a catalyst for change or a missed opportunity if not taken into cognizance. A...
Following a N4.6 trillion capital raise, Nigerian banks are set for a lending race across key sectors, with analysts predicting slow returns before recovery by 2027.
New CBN directive permits 100% repatriation of export proceeds by IOCs, replacing earlier restrictions to deepen Nigeria’s FX market.
Nigeria has always prided itself as Africa’s largest economy and most populous nation. Currently, its banking sector is confronting a moment of truth that should send...
The true capital of any banking system is not just money. It is trust. And whether this recapitalisation ultimately succeeds will depend on whether Nigerians see...
CBN directs commercial banks to restrict access to loans, letters of credit, and guarantees for large-ticket borrowers with non-performing facilities.
Nigeria’s Central Bank says locally sourced gold refined to London Bullion Market Association standards has been added to its reserves as part of diversification efforts.
Judging by the past reform in 2004-2005, it has shown that Nigeria’s banking recapitalisation will be judged not by the size of balance sheets, but by...
Motsepe denies corruption allegations as Senegal challenges CAF’s decision to strip them of the AFCON title and award it to...
Donald Trump warns Iran against imposing tolls on ships in the Strait of Hormuz, saying oil will flow “with or...
Kamal Kharazi, who served as Iran’s foreign minister from 1997 to 2005, has died after injuries from recent attacks.
Afrika Bambaataa is dead at 68. The iconic DJ and hip-hop innovator leaves behind a legacy that shaped modern music...
At least 10 terrorists have been neutralised in Plateau State as troops intensify operations in Wase and Kanam LGAs.
The Congo central bank has announced a ban on foreign currency cash transactions, allowing only electronic use from 2027.
Iran has rejected US demands to halt uranium enrichment, insisting on its nuclear rights before upcoming negotiations.
Mbappé tops the UCL scoring chart with 14 goals, with Kane on 11 and Gordon on 10 as the Golden...
Burna Boy’s songs have been removed from DJ playlists across Nigeria after an alleged altercation with DJ Tunez. Here’s what...
The World Bank says higher oil prices could significantly impact Nigeria’s economy, adding pressure on inflation through fuel, logistics, and...
Hansi Flick explains Yamal’s reaction, insisting the 18-year-old is still learning ahead of Barcelona’s Champions League tie.
UK blocks Kanye West from entering the country, forcing organisers to cancel the Wireless Festival and issue refunds to ticket...
If there's any lesson to be drawn from global trends it's this: left unchecked, digital lending at high cost not...
Arsenal take on Sporting in Lisbon as they seek redemption in Europe after a dip in form and several key...
Ex-Arsenal and Wales midfielder Aaron Ramsey retires after struggling with injuries, concluding a career spanning top European clubs and international...
Mikel Arteta calls for resilience as Arsenal take on Sporting after back-to-back losses in domestic competitions.
FA Cup semi-finals are set, with Chelsea vs Leeds and Man City vs Southampton after dramatic quarter-final results.
After Italy’s World Cup exit, Canada launches a jersey swap campaign in Toronto to rally Italian-Canadian fans behind the hosts.
Vedat Muriqi’s stoppage-time goal gives Mallorca a 2-1 win over Real Madrid, dealing a blow to their La Liga title...