The Central Bank of Nigeria (CBN) has again demonstrated its commitment to maintaining a resilient and stable banking sector. On June 13, 2025, the apex bank issued a directive temporarily suspending dividend payments, bonuses, and foreign subsidiary investments for banks operating under regulatory forbearance. This measured intervention reflects the regulator’s proactive stance in safeguarding Nigeria’s
The Central Bank of Nigeria (CBN) has warned Nigerian banks and fintechs to be wary of cybersecurity risks as they move into open banking. The Director of Payments System Policy at the CBN, Mr. Musa Jimoh, gave this charge while speaking during the Q2 Regulators Forum of the FintechNGR themed, “Beyond Compliance: Unlocking Innovation with Nigeria’s
Nigeria’s cryptocurrency transactions soared to approximately $59 billion between July 2023 and June 2024, despite the Central Bank of Nigeria (CBN) prohibiting crypto trading in 2021. This was according to a report by KPMG and blockchain analytics firm Chainalysis, which highlighted the growing role of crypto in Nigeria’s financial landscape. The report revealed that Nigeria