Moniepoint, Opay, Kuda Get Nationwide Approval from CBN

The Central Bank of Nigeria (CBN) has granted national operating licences to several leading FinTech companies and Microfinance Banks, clearing them to provide services across the country after meeting enhanced regulatory standards. The licence upgrade covers some of the biggest names in Nigeria’s digital finance ecosystem, including Moniepoint Microfinance Bank, Opay, Kuda Bank, Palmpay and […]

CBN Exposes Unauthorised Microfinance Bank Operating in Lagos, Abuja, Kaduna, Kano

The Central Bank of Nigeria (CBN) has raised an alarm over the operations of an entity posing as a licensed microfinance bank, warning Nigerians to avoid any financial dealings with the organisation known as Zuldal Microfinance Bank Limited. In a statement released on Thursday via its official 𝕏 account, the apex bank clarified that Zuldal […]

FG: CBN holds N43 billion in stamp duty charges from banks

The Federal Government has revealed that N43 billion collected as stamp duty from domestic transactions is currently held by the Central Bank of Nigeria (CBN). The Minister of Finance, Budget, and National Planning, Zainab Ahmed, explained that the funds are with the CBN due to an ongoing legal dispute between the Nigerian Postal Service (NPS) […]