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The Central Bank of Nigeria has launched an aggressive financial strategy to drive the country toward a one-trillion-dollar economy. Dubbed the Payments System Vision 2028, the blueprint aims to drag an additional 50 million citizens into the formal banking system. Governor Olayemi Cardoso presented the four-year roadmap in Abuja, framing electronic payment channels as vital…
Nigeria’s economic ambition remains tethered to a significant failure in financial inclusion. New data reveals that 80 per cent of businesses owned by women operate entirely without access to formal credit. While women constitute over half of the population and provide 40 per cent of the nation’s agricultural labour, they remain sidelined from the institutional…
The Central Bank of Nigeria (CBN) has released an exposure draft of the “Guide to Charges by Banks and Other Financial Institutions, 2026,” proposing a rise in the cost of ATM card issuance and replacement. If finalized, the fee for standard debit and credit cards will climb to ₦1,500, a 50 per cent increase from…
Global mobile money transactions hit a historic $2tn in 2025, doubling in value in just four years. According to the State of the Industry Report on Mobile Money 2026 by the GSMA, the sector has transitioned from a niche tool for the unbanked into a mainstream financial ecosystem. While it took two decades to reach…
The Bank of Industry has obtained regulatory clearance from the Central Bank of Nigeria to establish a Non-Interest Banking window, a development the development finance institution says will broaden financial access for ethically motivated enterprises and underserved segments of the economy. According to a statement issued by the bank, the approval authorises BoI to…
