Regulations
874 microfinance banks have operational licences – CBN
The Central Bank of Nigeria has said 874 microfinance banks have licences to operate in the country. It listed...
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Prudential Zenith Life exceeds recapitalisation benchmark
Prudential Zenith Life Insurance has raised its authorised share capital to N5 billion, surpassing the N4 billion new minimum capital...
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Following Court Order, NAICOM Stops Insurers’ Recapitalisation
Insurance companies yesterday got a breather in their efforts to recapitalise their businesses as the National Insurance Commission (NAICOM) yesterday...
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Court Restrains NAICOM from Enforcing Deadline on Insurance Firms’ Recapitalisation
Justice C. J. Aneke of the Lagos Division of the Federal High Court has restrained the National Insurance Commission (NAICOM)...
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42 microfinance banks lose licences
The Central Bank of Nigeria (CBN) has withdrawn the operating licenses of 42 microfinance banks (MfBs). The affected banks have...
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NAICOM tasks insurers on N463.1bn annuity business
The National Insurance Commission (NAICOM) has expressed worry over the declining participation of life companies in retiree life annuity (RLA)...
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CBN introduces new bills to control liquidity
The Central Bank of Nigeria has said it has introduced special bills as part of efforts to deepen the financial...
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New Finance Bill proposes 10% VAT for defaulters
The Finance Bill 2020 scaled second reading on the floor of the Senate on Wednesday. The proposed legislation stipulates various...
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BOFIA Tightens Noose on Banks’ Control of Dormant Accounts
The Banks and Other Financial Institutions Act (BOFIA) 2020 has tightened the noose on banks’ control of funds in dormant...
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Financial regulators evolve strategies for risk management under COVID-19
Financial services regulators have their work cut out, amid heightened cybercrimes and credit risks reinforced by the Coronavirus (COVID-19) pandemic,...
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NSE seeks increased liquidity in fixed income securities
The Nigerian Stock Exchange (NSE) has reiterated its commitment to providing a hybrid market for dealers as well as institutional...
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CBN goes tough on breach of export laws
The Central Bank of Nigeria has said that it will be a breach of extant regulations for any shipping company...
Read moreRecapitalisation: NAICOM Reads Riot Act to Operators over Outstanding Claims
The National Insurance Commission (NAICOM) has said it will not endorse the recapitalisation plan of any firm that doesn’t clear...
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Agusto & Co. assigns a ‘Bbb’ rating to WAPIC Insurance Plc
Agusto & Co. assigns a ‘Bbb’ rating to WAPIC Insurance Plc, with a stable outlook. This rating expires 30 June...
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FG increases efforts to grow insurance premium to N1 trillion
Nigeria’s insururance industry is going through a transformation with the National Insurance Commission (NAICOM), and major players strategizing to take...
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CBN Moves against Banks, Gaming Companies over Unauthorised FX Transfers
•Places over 38 firms on PND •To penalise management of banks •Increases target credit facility to N100bn The Central...
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CBN drops savings account interest rate to 1.25%
The Central Bank has ordered all Deposit Money Banks to review interest rates on savings accounts to a minimum of...
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Vehicle Importation: FG Urged to Review Customs’ Valuation Method
Customs agents in the country have called on the federal government to urgently review the valuation method on imported vehicles...
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CBN to restart weekly dollar sales to BDCs
In a move to strengthen the naira, the Central Bank of Nigeria (CBN) plans to resume dollar sales to Bureau...
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In Major Coup, CBN Blocks Over-invoicing, FX Overpricing
• Introduces product price verification mechanism • Elumelu praises measures In a major policy coup, the Central Bank of Nigeria...
Read moreCBN Revamps Economic Report Format
The Central Bank of Nigeria (CBN) has enhanced the reporting format and presentation of its periodic economic reports. The latest...
Read moreNAICOM releases fresh guidelines for insurance recapitalization
The National Insurance Commission (NAICOM), has released fresh guidelines for the payment of minimum paid-up share capital by insurance and reinsurance...
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Tax Regulators, Property Consultants Disagree on Multiple Charges in Real Estate Sector
Property consultants and experts in taxation in the private sector believe the real estate sector in Nigeria is bogged down...
Read moreCBN’s stress test clears banks
Banks are strong enough to withstand the COVID-19 pandemic impact, the Central Bank of Nigeria (CBN) stress test has revealed....
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Buhari Signs Companies and Allied Matters Bill
President Muhammadu Buhari yesterday in Abuja signed the Companies and Allied Matters Bill, 2020 passed by the National Assembly into...
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