Over the past few months, particularly since the start of 2026, Nigerian banking regulators have rolled out a series of high-impact policies and directives across the financial system. While some of these measures made headlines at the time they were announced, many quietly introduced significant changes that could affect banks, fintechs, businesses, investors, and millions of consumers. From new ATM deployment rules and tighter Bank Verification Number (BVN) requirements to fresh cybersecurity obligations and foreign exchange reforms, the regulatory landscape has continued to evolve rapidly. Over the past few months, particularly since the start of 2026, Nigerian regulators have rolled…
Author: Abdoulaye Kay
The Central Bank of Nigeria (CBN) and deposit money banks are reviewing concerns over excessive transaction alerts and customer charges following complaints from bank users about confusing debit notifications and deductions. CBN Governor, Olayemi Cardoso, disclosed this on Wednesday in Abuja during a press briefing after the 305th meeting of the Monetary Policy Committee (MPC). Cardoso said the apex bank had established a quarterly engagement framework involving its Consumer Protection Department, deposit money banks, and the top 10 microfinance banks to address unresolved customer complaints and improve service delivery. According to him, one of the key issues under review is…
The Sokoto State Government has officially upgraded and renamed the State College of Basic and Remedial Studies as part of a major reform in the state’s tertiary education sector. Governor signed into law the bill passed by the State House of Assembly on May 14, 2026, upgrading the institution into a full-fledged College of Technology and Advanced Studies. The development was announced on Wednesday by the Commissioner for Higher Education, Prof. Isa Muhammad Maishamu, during a briefing in his office. Under the new law, the former has been renamed the Aliyu Magatakarda Wamakko College of Techjogy and Advanced Studies, in…
The Federal Government has started releasing 50% of outstanding 2025 Bilateral Education Agreement (BEA) scholarship arrears to Nigerian students studying abroad, the Federal Ministry of Education said in a statement published on its official X page on Wednesday. The partial payment settles backlog allowances owed under the BEA scholarship programme after earlier funding delays. According to the ministry, the funds were processed through the Central Bank of Nigeria and transmitted to Nigerian embassies and missions for onward payment to beneficiaries. “The Federal Government has commenced the disbursement of approved outstanding 2025 allowances to beneficiaries of the Bilateral Education Agreement (BEA)…
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5 per cent following the conclusion of its 305th meeting in Abuja. CBN Governor, Olayemi Cardoso, announced the decision on Tuesday, during a press conference, after the two-day meeting attended by all 11 MPC members. The committee also retained all other key monetary policy parameters, underscoring its cautious stance as it continues to assess inflationary trends and broader macroeconomic developments. ALSO READ MPC meeting: Analysts expect CBN to hold rates amid inflation pressures, By Israel Ojoko Under the decision, the…
The Federal Airports Authority of Nigeria (FAAN) has activated enhanced Ebola response protocols across all international airports in the country as part of efforts to prevent the possible importation and spread of the virus into Nigeria amid a renewed outbreak in parts of Central Africa. The development was announced in a statement issued on Wednesday by FAAN’s Director of Public Affairs and Consumer Protection, Henry Agbebire, who said the agency had intensified surveillance, screening and emergency preparedness measures at international gateways nationwide. According to FAAN, the move follows reports of the Bundibugyo strain of the Ebola virus disease in parts…
Olam Agri’s wheat-milling subsidiary, Crown Flour Mill (CFM) Limited, has unveiled two new products—Mama’s Choice Wheat Flour and Mama’s Pride Semolina—as part of its strategy to meet evolving consumer needs and strengthen its position in Nigeria’s food and agribusiness sector. The products were unveiled during events held in Lagos on May 12 and 13, 2026, attracting distributors, dealers, bakers, confectioners and other stakeholders across the value chain, reflecting strong anticipation for the new offerings. According to the company, Mama’s Choice Wheat Flour is formulated to deliver higher yields, lower oil absorption and finer, whiter finished products, helping users reduce production…
Nigerian Afrobeats superstar Wizkid has become the first African artist to surpass 11 billion total streams on Spotify across all credited appearances, further cementing his status as one of the continent’s most commercially successful global music exports. The milestone was announced on Tuesday by Charts Africa via X, highlighting Wizkid’s dominance across several Spotify milestones in African music history. According to the platform, Wizkid remains the first African artist to reach one billion, two billion, 10 billion, and now 11 billion cumulative streams on Spotify. The latest achievement comes just days after the release of State of Mind, his collaboration…
Nigeria will lock horns with Guinea-Bissau, Tanzania, and Madagascar in the qualification series for the 2027 Africa Cup of Nations (AFCON). This followed the 2027 AFCON draw held in Cairo, Egypt, on Tuesday, which saw the Super Eagles in Group L of the qualification race for the next continental showpiece. Nigeria’s opponents are not new to the three-time AFCON winners, as they have faced them in recent years. At the 2021 AFCON, the Super Eagles battled Guinea-Bissau in the group stages. Both nations were also opponents in the qualification race for the 2023 AFCON as well as the main competition…
The Nigerian government has announced plans to introduce fresh regulations and implementation guidelines aimed at curbing illegal and multiple taxation imposed by state and local governments across the country as part of ongoing tax reform efforts. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this during an interview on Channels Television, stating that tax harmonisation remains a key priority of the current administration. According to him, while the Nigerian Tax Act and the Nigerian Tax Administration Act became operational on January 1, 2026, implementation has so far been concentrated at the federal level, with attention…