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Finance
168 posts
Naira Exchange Rates: June 29, 2026 Update
On June 29, 2026, the Nigerian naira traded at ₦1,379.22 per dollar officially, while parallel market rates fluctuated between ₦1,400 and ₦1,405.
Investors shed N2.4 trillion as Nigerian stock market experiences continued profit-taking
The Nigerian stock market recorded a second consecutive week of losses as investors withdrew N2.4 trillion following profit-taking activities across major sectors.
Hidden Banking Fees and the Erosion of Digital Payment Trust in Nigeria
Unexplained bank deductions are causing widespread consumer frustration in Nigeria, raising concerns that a lack of transparency in digital payment fees may be damaging public trust in the formal banking sector.
FCMB Launches Enhanced Mobile App Featuring Loyalty Rewards and Digital Upgrades
FCMB has updated its mobile banking app with a reward points system, lifestyle subscriptions, in-app investment tools, and instant virtual card services to enhance customer convenience.
Nigerian stock market value dips by N958bn
Investors faced a N958 billion decline in market capitalisation as the Nigerian stock exchange experienced a downturn on Thursday.
UBA CEO Urges Banking Industry to Strengthen AI Oversight
United Bank for Africa CEO Oliver Alawuba and ACAEBIN leaders advocate for enhanced AI governance and cybersecurity measures to protect the banking sector's future.
SEC Reinstates BGL Group Units for Capital Market Participation
The SEC has authorized three BGL Group entities—BGL Securities Limited, BGL Capital Limited, and BGL Asset Management Limited—to return to operations within the Nigerian capital market.
CBN Blocks Bank Accounts of Adamu Ciroma and Others Tied to Terrorism Funding
The Central Bank of Nigeria has mandated the immediate freezing of accounts belonging to five individuals and a Bureau de Change firm over allegations involving terrorism financing.
FCMB Emphasizes Robust Ecosystems for Sustainable Creative Industry Growth
Nnenna Jacob-Ogogo of FCMB argues that scaling Nigeria's creative economy requires more than capital; it demands structural reforms in governance, infrastructure, and intellectual property.
CBN Instructs Financial Institutions to Freeze Assets of Terrorism Financing Suspects
The Central Bank of Nigeria has ordered banks to freeze assets belonging to six individuals and four BDC operators accused of terrorism financing, following a government update to the national sanctions list.