# Banking News, Fintech News, Business News From Fintech Insights

> Get Latest Banking News, Fintech News, Business News, Mobile Banking Innovations, Digital Payments, Regulations, and Expert Insights From Fintech Insights


## Posts

- [FairMoney Launches FlexiCredit, Offering Up To ₦5m Instant Credit Line For Nigerian Professionals](https://thefintechinsights.com/fairmoney-launches-flexicredit-offering-up-to-%e2%82%a65m-instant-credit-line-for-nigerian-professionals/): FairMoney Microfinance Bank has unveiled FlexiCredit, a new premium credit line that gives qualified users access to as much as ₦5 million whenever they need it. The facility, accessible through a single lifetime application, is designed to offer convenience, transparency, and full user control. With FlexiCredit, approved customers receive a personalized credit limit that they [&hellip;]
- [FG Begins Taxation of Virtual Currencies Under New Fiscal Reform Laws](https://thefintechinsights.com/fg-begins-taxation-of-virtual-currencies-under-new-fiscal-reform-laws/): The Presidential Fiscal Policy and Tax Reforms Committee has announced that virtual currencies which includes cryptocurrencies will now fall under Nigeria’s tax net as part of the country’s sweeping new fiscal reform legislation. Committee chairman, Taiwo Oyedele revealed this during an online public lecture hosted by the Capital Market Academics of Nigeria (CMAN) which was [&hellip;]
- [Fintech for Food: How Digital Payments Are Rewiring Nigeria’s Agricultural Economy](https://thefintechinsights.com/fintech-for-food-how-digital-payments-are-rewiring-nigerias-agricultural-economy/): Agriculture remains one of Nigeria’s most reliable economic engines. The sector contributes roughly 24 per cent of the country&#8217;s national GDP, underscoring how deeply farming is woven into the Nigeria’s livelihood and food systems. &nbsp; Yet for the millions of smallholder farmers who power this sector, cash is still the primary currency. Payments are informal, [&hellip;]
- [Transparent Digital Lending Key to Achieving Nigeria’s $1 Trillion Economic Ambition — FairMoney MFB Boss](https://thefintechinsights.com/transparent-digital-lending-key-to-achieving-nigerias-1-trillion-economic-ambition-fairmoney-mfb-boss/): Transparent and inclusive digital lending has been identified as one of the most important drivers needed for Nigeria to reach and potentially exceed its $1 trillion economy target. This was highlighted in a policy brief by the Managing Director of FairMoney Microfinance Bank, Henry Obiekea. According to him, Nigeria’s demographic advantage is being undermined by [&hellip;]
- [Rethinking Fintech Oversight: Nigeria’s Push for a Fintech Regulatory Commission](https://thefintechinsights.com/rethinking-fintech-oversight-nigerias-push-for-a-fintech-regulatory-commission/): Regulation has long shaped the trajectory of Nigeria’s fast-growing fintech industry. Over the years, the Central Bank of Nigeria (CBN) has introduced multiple guidelines and frameworks on payments, digital lending, open banking, mobile money, IMTOs, cybersecurity, and even e-Naira operations. The most recent addition is the Guidelines for Agent Banking which reflects the regulator’s ongoing [&hellip;]
- [CBN Revokes 1,435 BDC Licences in Major Sector Cleanup](https://thefintechinsights.com/cbn-revokes-1435-bdc-licences-in-major-sector-cleanup/): The Central Bank of Nigeria (CBN) has revoked the operating licences of 1,435 Bureau De Change (BDC) operators for failing to meet the new capital and compliance requirements, one of the most extensive regulatory overhauls the subsector has ever seen. This update was contained in a newly published document, “Frequently Asked Questions (FAQs) on the [&hellip;]
- [Stanbic IBTC Digital Lending Expansion Poised to Boost Earnings, NGX Valuation](https://thefintechinsights.com/stanbic-ibtc-digital-lending-expansion-poised-to-boost-earnings-ngx-valuation/): Stanbic IBTC Holdings Plc’s renewed focus on digital retail lending is gaining traction among market analysts, who say the strategy could strengthen the bank’s earnings profile, enhance asset quality, and improve its long-term valuation on the Nigerian Exchange (NGX). The bank recently upgraded its digital lending platform, enabling faster credit assessments and quicker loan disbursements. [&hellip;]
- [CBN Moves to Scrap Two Referee Requirements for Current Bank Accounts](https://thefintechinsights.com/cbn-moves-to-scrap-two-referee-requirements-for-current-bank-accounts/): The Central Bank of Nigeria (CBN) is considering removing the long-standing referee requirement for opening current accounts, a major shift that could modernise and streamline banking processes across the country. For decades, new current-account holders were required to present referees, often acquaintances they barely knew, as a way to confirm identity and credibility. The rule [&hellip;]
- [FG Sets Up Tax Policy Committee, Signals Market-Friendly Approach to Capital Gains Tax Reform](https://thefintechinsights.com/fg-sets-up-tax-policy-committee-signals-market-friendly-approach-to-capital-gains-tax-reform/): The Federal Government has inaugurated the National Tax Policy Implementation Committee (NTPIC), a move widely seen as an effort to ensure a more predictable, investor-sensitive rollout of the newly enacted capital-gains-tax (CGT) provisions. The decision follows months of technical consultations with major capital-market institutions including the Securities and Exchange Commission (SEC) and Nigerian Exchange Group [&hellip;]
- [CBN Reforms Cushion Oil Price Decline as Nigeria’s Diversification Drive Gains Momentum](https://thefintechinsights.com/cbn-reforms-cushion-oil-price-decline-as-nigerias-diversification-drive-gains-momentum/): As global oil prices continue their downward slide, Nigeria is finding unexpected stability; thanks to sweeping foreign exchange (FX) and macroeconomic reforms led by the Central Bank of Nigeria (CBN). These policy shifts are strengthening the country’s non-oil economy, boosting investor confidence, and positioning Africa’s largest economy for more resilient growth. Nigeria’s Economy Gradually Breaks [&hellip;]
- [CAC Threatens to Place Opay, Moniepoint on Watchlist Over Unregistered POS Agents](https://thefintechinsights.com/cac-threatens-to-place-opay-moniepoint-on-watchlist-over-unregistered-pos-agents/): The Corporate Affairs Commission (CAC) has issued a stern warning to leading fintech companies in Nigeria; including Opay and Moniepoint over their alleged role in enabling unregistered Point of Sale (POS) operators nationwide. In an enforcement notice released Friday, the commission said it will no longer tolerate fintech platforms onboarding or supporting POS agents who [&hellip;]
- [NTPIC Pledges Transparent Rollout of Nigeria’s New Tax Laws, Signals Review of Contentious Provisions](https://thefintechinsights.com/ntpic-pledges-transparent-rollout-of-nigerias-new-tax-laws-signals-review-of-contentious-provisions/): The newly inaugurated National Tax Policy Implementation Committee (NTPIC) has pledged a “humane” and transparent rollout of the federal government’s new tax laws, signaling that contentious provisions; including changes to capital gains tax that recently rattled markets may be reviewed before the January 1 start date or adjusted during implementation. Speaking in Abuja at the [&hellip;]
- [World Gold Council Predicts 15–30% Climb For Gold Prices In 2026](https://thefintechinsights.com/world-gold-council-predicts-15-30-climb-for-gold-prices-in-2026/): Gold is on track to extend its impressive rally into 2026, with the World Gold Council (WGC) projecting a further 15–30% surge in the coming year. The precious metal delivered a historic performance in 2025, notching over 50 record highs and yielding more than 60% returns. Analysts attribute the spike to intensifying geopolitical tensions, global [&hellip;]
- [Nigerian Equities Rebound Strongly, Recover N2.44 Trillion in First Week of December](https://thefintechinsights.com/nigerian-equities-rebound-strongly-recover-n2-44-trillion-in-first-week-of-december/): The Nigerian equities market staged a strong recovery in the first week of December, clawing back N2.436 trillion after a record N6.5 trillion downturn in November. The comeback was driven by a powerful surge on Friday, when the market added N996.84 billion, marking the week’s strongest single-day performance and signaling renewed investor confidence following last [&hellip;]
- [FG New Tax Act Ushers in Toughest Penalties of Up to N10m Fines, 10 Years Jail Term](https://thefintechinsights.com/fg-new-tax-act-ushers-in-toughest-penalties-of-up-to-n10m-fines-10-years-jail-term/): When Nigeria’s new Tax Act takes effect on January 1, 2026, it will mark one of the most sweeping overhauls of the country’s tax enforcement system in decades. What was once treated as routine paperwork like filing late, failing to register a business, neglecting record-keeping will now carry consequences that rival criminal offences. Under the [&hellip;]
- [Netflix Secures Historic $82.7bn Deal to Acquire Warner Bros., HBO Max in Landmark Media Merger](https://thefintechinsights.com/netflix-secures-historic-82-7bn-deal-to-acquire-warner-bros-hbo-max-in-landmark-media-merger/): Netflix has entered into a definitive agreement to acquire Warner Bros. Discovery’s film and television studios, along with its HBO Max streaming service, in what is being described as one of the largest takeovers in entertainment history. The deal is valued at $72 billion in equity and $82.7 billion including debt, signaling massive consolidation in [&hellip;]
- [SEC Warns Nigerians Against Illegal Investment Scheme ‘Glorious Wealth Fund’](https://thefintechinsights.com/sec-warns-nigerians-against-illegal-investment-scheme-glorious-wealth-fund/): The Securities and Exchange Commission (SEC) has issued a stern public alert warning Nigerians to steer clear of an online investment platform known as Glorious Wealth Fund (GWF), labelling its operations illegal, unlicensed, and potentially fraudulent. In a statement released Thursday and made available to Fintech Insights on Friday, the Commission disclosed that GWF which [&hellip;]
- [Nigeria’s Largest Banks by Share Capital Amid Sweeping CBN Recapitalisation Drive (FULL LIST)](https://thefintechinsights.com/nigerias-largest-banks-by-share-capital-amid-sweeping-cbn-recapitalisation-drive-full-list/): Nigeria’s banking sector is deep into one of the most historic sweeping recapitalisation drives in its history, as lenders race to meet the Central Bank of Nigeria’s (CBN) March 31, 2026 deadline. And the latest numbers show just how dramatic the capital build-up has become. According to a fresh analysis by Nairametrics, 11 publicly listed [&hellip;]
- [FairMoney Expands Product Portfolio to Accelerate Nigeria’s Financial Inclusion Drive](https://thefintechinsights.com/fairmoney-expands-product-portfolio-to-accelerate-nigerias-financial-inclusion-drive/):  FairMoney Microfinance Bank, one of Nigeria’s fastest-growing digital financial service providers, is redefining its role in the fintech landscape as it transitions from a digital lending startup into a full-fledged financial ecosystem supporting nationwide financial inclusion. The bank which was launched in 2017 as a digital lending platform has broadened its offerings to address the [&hellip;]
- [Senate Moves to Place Major Fintechs Under CBN Oversight With BOFIA Amendment](https://thefintechinsights.com/senate-moves-to-place-major-fintechs-under-cbn-oversight-with-bofia-amendment/): The Senate on Thursday opened debate on a bill seeking to amend the Banks and Other Financial Institutions Act (BOFIA) 2020 to give the Central Bank of Nigeria (CBN) explicit powers to designate and supervise systemically important non-bank financial institutions, particularly fast-growing fintech companies now considered critical to Nigeria’s financial infrastructure. Leading the debate, Senator [&hellip;]
- [Nigerian SMEs Pushed Toward Crowdfunding, Credit Guarantees, Non-Bank Financing Options](https://thefintechinsights.com/nigerian-smes-pushed-toward-crowdfunding-credit-guarantees-non-bank-financing-options/): Experts are urging Nigerian small businesses to adopt alternative financing models as traditional bank loans remain largely inaccessible for most SMEs. Speaking at the 2025 BusinessDay SME Conference and Awards in Lagos, themed “Driving Nigeria’s Economy, Empowering SMEs for Global Competitiveness,” industry leaders said the future of SME funding lies in diversified non-bank channels such [&hellip;]
- [Nigeria’s Foreign Reserves Hit Seven-Year High at $46.7bn - CBN](https://thefintechinsights.com/nigerias-foreign-reserves-hit-seven-year-high-at-46-7bn-cbn/): Nigeria’s foreign reserves have risen to $46.7 billion, the highest level in nearly seven years according to Central Bank of Nigeria (CBN) governor Olayemi Cardoso. Speaking during an engagement with the Senate Committee on Banking, Insurance and Other Financial Institutions on Thursday, Cardoso said the reserve level now provides 10.3 months of import cover, attributing [&hellip;]
- [CFG Africa Unveils N1 Billion Ethical Fund to Strengthen Client Portfolios Amid Market Volatility](https://thefintechinsights.com/cfg-africa-unveils-n1-billion-ethical-fund-to-strengthen-client-portfolios-amid-market-volatility/): In a bold move to shield client portfolios from growing market uncertainty, CFG Africa has officially launched its N1,000,000,000 CFG Ethical Fund. The announcement took place at the prestigious Client Engagement Forum 2025, held on Friday, November 21, 2025, at The Wheatbaker Hotel in Ikoyi. Anchored on the theme “2026 in Focus- Opportunities for Growth, [&hellip;]
- [Where to Invest N10 Million in December 2025](https://thefintechinsights.com/where-to-invest-n10-million-in-december-2025/): Choosing how to invest N10 million at the end of 2025 requires more than spotting attractive assets, it demands clarity of purpose, disciplined risk assessment, and an understanding of macroeconomic forces shaping Nigeria’s financial markets. Investors may differ in their preferences; some chase rapid growth, others prefer stability or consistent income but one principle remains [&hellip;]
- [FG Crypto Tax May Drive Traders Back to P2P Platforms, Stakeholders Warn Ahead of 2026 Enforcement](https://thefintechinsights.com/fg-crypto-tax-may-drive-traders-back-to-p2p-platforms-stakeholders-warn-ahead-of-2026-enforcement/): The federal government of Nigeria&#8217;s plan to tax cryptocurrency transactions under the Nigeria Tax Administration Act (NTAA) is triggering growing concern among blockchain stakeholders, who fear the policy could push traders away from licensed exchanges and reignite massive peer-to-peer (P2P) trading. Industry players warn that a mix of new tax obligations, heavy compliance requirements, and [&hellip;]
- [CBN Fines Stanbic IBTC’s Zest ₦2.7m for Late Filing as Fintech Subsidiary Extends Losses](https://thefintechinsights.com/cbn-fines-stanbic-ibtcs-zest-%e2%82%a62-7m-for-late-filing-as-fintech-subsidiary-extends-losses/): Zest Payments, the fintech subsidiary of Stanbic IBTC Holdings, has been penalised ₦2.7 million by the Central Bank of Nigeria (CBN) for failing to submit its 2023 audited financial statements within the regulatory deadline. The fine, revealed in Stanbic IBTC’s half-year 2025 financial results stemmed from a delay of just over two weeks beyond the [&hellip;]
- [APP Fraud Surge in Nigeria Pushes CBN to Redefine Liability for User-Authorised Scams](https://thefintechinsights.com/app-fraud-surge-in-nigeria-pushes-cbn-to-redefine-liability-for-user-authorised-scams/): The Central Bank of Nigeria (CBN) has unveiled a draft framework on Authorised Push Payment (APP) Fraud, proposing sweeping reforms that could transform how banks, fintechs and payment service providers handle liability, refunds and investigations in user-authorised scam cases. APP fraud, where victims are tricked into willingly transferring money to fraudsters has become one of [&hellip;]
- [CBN Revised Cash Limits Split Opinions Across Financial Sector In Nigeria](https://thefintechinsights.com/cbn-revised-cash-limits-split-opinions-across-financial-sector-in-nigeria/): The Central Bank of Nigeria’s (CBN) newly updated cash withdrawal and deposit limits have sparked mixed reactions among analysts, cash-reliant businesses, and Point-of-Sale (PoS) operators, as the country continues to balance financial inclusion with a push toward digital payments. In a circular released Tuesday, the CBN raised weekly withdrawal limits to ₦500,000 for individuals and [&hellip;]
- [CBN Ends Special Cash Withdrawal Waivers, Introduces Stricter Limits Effective January 2026](https://thefintechinsights.com/cbn-ends-special-cash-withdrawal-waivers-introduces-stricter-limits-effective-january-2026/): The Central Bank of Nigeria (CBN) has announced major changes to its cash withdrawal regulations, ending the special approval previously granted for individuals to withdraw N5 million and corporates N10 million once a month. The new rules take effect on January 1, 2026. The announcement was contained in a circular issued on Tuesday, December 2, [&hellip;]
- [RedotPay Partners With Ripple to Launch Instant “Send Crypto, Receive NGN” Payments in Nigeria](https://thefintechinsights.com/redotpay-partners-with-ripple-to-launch-instant-send-crypto-receive-ngn-payments-in-nigeria/): RedotPay has partnered with Ripple to introduce “Send Crypto, Receive NGN,” a new feature that enables users to convert digital assets into Nigerian naira and receive funds directly into local bank accounts within minutes. Powered by Ripple Payments, the service supports major cryptocurrencies at launch including USDC, USDT, Bitcoin, Ethereum, Solana, Tron, XRP, and BNB with [&hellip;]
- [MTN Nigeria Disburses N100 Million to 20 Startups Under Cloud Accelerator Programme](https://thefintechinsights.com/mtn-nigeria-disburses-n100-million-to-20-startups-under-cloud-accelerator-programme/): MTN Nigeria has awarded N100 million in funding to 20 high-potential startups in Lagos, reinforcing its commitment to strengthening the country’s innovation and entrepreneurship ecosystem. The beneficiaries, selected under the inaugural MTN Cloud Accelerator Programme, each received a non-equity grant of N5 million. Beyond funding, the cohort gained access to MTN’s APIs, cloud infrastructure, Africa’s [&hellip;]
- [Moniepoint MFB Unveils Moniebook, Nigeria’s First All-in-One POS and Bookkeeping Solution for Businesses](https://thefintechinsights.com/moniepoint-mfb-unveils-moniebook-nigerias-first-all-in-one-pos-and-bookkeeping-solution-for-businesses/): Moniepoint Microfinance Bank, Nigeria’s leading financial partner for small and medium-sized businesses, has introduced Moniebook, an innovative all-in-one Point-of-Sale (POS) and business management solution designed to redefine how SMEs and multi-location enterprises operate. Moniebook is the first solution in Nigeria to seamlessly integrate payments and bookkeeping into a single tool, offering businesses across retail, hospitality, [&hellip;]
- [CBN Orders Banks to Refund APP Fraud Victims Within 48 Hours in Major Consumer Protection Move](https://thefintechinsights.com/cbn-orders-banks-to-refund-app-fraud-victims-within-48-hours-in-major-consumer-protection-move/): The Central Bank of Nigeria (CBN) has issued a strong directive compelling banks and other financial institutions to refund victims of Authorised Push Payment (APP) fraud within 48 hours after investigations are concluded, a significant step to curb rising electronic fraud across the country. APP fraud typically occurs when customers are manipulated into willingly sending [&hellip;]
- [NNPC, CBN Forge Strategic Partnership to Strengthen Nigeria’s Economic Stability](https://thefintechinsights.com/nnpc-cbn-forge-strategic-partnership-to-strengthen-nigerias-economic-stability/): The Nigerian National Petroleum Company (NNPC) Limited and the Central Bank of Nigeria (CBN) have entered into a strategic partnership aimed at bolstering national economic stability. The collaboration was announced on Tuesday by NNPC’s Group Chief Executive Officer, Bayo Ojulari, following a meeting with CBN Governor Olayemi Cardoso in Abuja. Ojulari described the engagement as [&hellip;]
- [Presco Plc Receives First $100m Tranche of SIAT NV’s $1bn Investment Plan](https://thefintechinsights.com/presco-plc-receives-first-100m-tranche-of-siat-nvs-1bn-investment-plan/): Edo State has recorded a major economic milestone following the announcement of a $100 million Foreign Direct Investment (FDI) into Presco Plc by Belgian agro-industrial giant SIAT NV. The fund represents the first tranche of a landmark $1 billion investment commitment, aimed at accelerating agro-industrial development across Nigeria over the next decade. According to Presco, [&hellip;]
- [DMO Opens December 2025 Subscription Window for FGN Savings Bonds](https://thefintechinsights.com/dmo-opens-december-2025-subscription-window-for-fgn-savings-bonds/): Nigeria’s Debt Management Office (DMO) has opened the subscription window for the December 2025 issuance of the Federal Government of Nigeria Savings Bond (FGNSB), offering fresh 2-year and 3-year tenors to retail investors. According to a circular released on Monday, the 2-year bond, which matures on December 10, 2027, carries an annual interest rate of [&hellip;]
- [NITDA Partners JICA To Accelerate Nigeria’s Tech Innovation, Startup Ecosystem](https://thefintechinsights.com/nitda-partners-jica-to-accelerate-nigerias-tech-innovation-startup-ecosystem/): The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa CCIE, has stated that Nigeria’s ongoing collaboration with the Japan International Cooperation Agency (JICA) is significantly accelerating the country’s technology innovation drive and strengthening its startup ecosystem. Inuwa, who was represented by Dr. Amina Sambo-Magaji, Deputy Director of the e-Government and Digital [&hellip;]
- [Cautious, Defensive Trading Mood Set to Persist in Equities Market as Investors Rebalance Portfolios](https://thefintechinsights.com/cautious-defensive-trading-mood-set-to-persist-in-equities-market-as-investors-rebalance-portfolios/): Analysts say Nigeria’s equities market will likely maintain its cautious and defensive tone this week, as investors continue to respond to profit-taking pressure and the implications of the recent Monetary Policy Committee (MPC) decision. The market has been grappling with intensified sell-offs, with investors reassessing positions after the MPC left all policy parameters unchanged, an [&hellip;]
- [5 Potential Company Stocks of the Week](https://thefintechinsights.com/5-potential-company-stocks-of-the-week/): After a week marked by defensive trading, intensified profit-taking, and cautious repositioning on the Nigerian Exchange, investors are increasingly turning their attention to fundamentally strong stocks with attractive entry points. With market sentiment still subdued, reflected in a negative market breadth of 26 gainers against 68 losers; select equities stand out for their resilient performance, [&hellip;]
- [Tax Reforms Committee Clarifies TIN Requirement for Personal Bank Accounts Amid Controversy](https://thefintechinsights.com/tax-reforms-committee-clarifies-tin-requirement-for-personal-bank-accounts-amid-controversy/): Nigeria’s Presidential Committee on Fiscal Policy and Tax Reforms has clarified that Tax Identification Numbers (TINs) are not required for personal bank accounts, unless those accounts are used for business-related transactions. The clarification follows widespread public confusion and misinformation surrounding the upcoming tax reforms taking effect on January 1, 2026. Committee chairman Taiwo Oyedele made [&hellip;]
- [CBN Signals Possible Interest Rate Cuts in 2026 as Inflation Continues to Cool](https://thefintechinsights.com/cbn-signals-possible-interest-rate-cuts-in-2026-as-inflation-continues-to-cool/): Central Bank of Nigeria (CBN) Governor Olayemi Cardoso says the bank may begin cutting interest rates next year if inflation maintains its current downward trajectory. Speaking at the annual bankers’ dinner in Lagos on Friday attended by Fintech Inisghts, Cardoso highlighted the steady decline in inflation, which fell to 16.05% in October 2025, down from [&hellip;]
- [World Bank Calls for Overhaul of Nigeria’s Trade Policy to Fight Inflation, Poverty](https://thefintechinsights.com/world-bank-calls-for-overhaul-of-nigerias-trade-policy-to-fight-inflation-poverty/): The World Bank has called on Nigeria to undertake sweeping reforms of its trade policy especially by cutting high import tariffs and removing import bans as part of urgent measures needed to ease stubborn inflation and protect millions of citizens slipping further into poverty. While inflation has begun to cool due to improved coordination between [&hellip;]
- [13 Female-Led African Startups Raised Over $45 Million in 2025 Despite Funding Slowdown](https://thefintechinsights.com/13-female-led-african-startups-raised-over-45-million-in-2025-despite-funding-slowdown/): African women founders entered 2025 with the same grit and persistence that have long defined their role in the continent’s technology ecosystem. Even in a year marked by weak investor confidence, tighter capital flows, and cautious venture activity, these founders continued to push forward by securing million-dollar investments that underscored both their resilience and their [&hellip;]
- [Ecobank Nigeria Launches Tender Offer for Remaining US$150m Eurobond Ahead of 2026 Maturity](https://thefintechinsights.com/ecobank-nigeria-launches-tender-offer-for-remaining-us150m-eurobond-ahead-of-2026-maturity/): Ecobank Nigeria Limited has opened a tender offer for the remaining US$150 million of its US$300 million 7.125% Senior Note Participation Notes due February 2026, giving eligible bondholders the option to exit ahead of maturity. The offer, which opened on 28 November 2025, allows noteholders to tender their securities at US$1,000 per US$1,000 principal, plus [&hellip;]
- [CBN Governor Cardoso Unveils 2026 Strategy: Stronger Banks, Tougher Supervision, Modern Payments, End to Deficit Financing](https://thefintechinsights.com/cbn-governor-cardoso-unveils-2026-strategy-stronger-banks-tougher-supervision-modern-payments-end-to-deficit-financing/): The Central Bank of Nigeria (CBN) is setting a new strategic direction for 2026, with Governor Olayemi Cardoso announcing a series of reforms designed to strengthen the banking system, protect depositors, modernise payments, and support Nigeria’s economic stability. &nbsp; Speaking at the 2025 Bankers’ Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN) [&hellip;]
- [OPay Denies Claims of Wiped Accounts, Says Customer Funds Are Safe](https://thefintechinsights.com/opay-denies-claims-of-wiped-accounts-says-customer-funds-are-safe/): Fintech giant OPay has firmly debunked viral social media claims alleging that customer accounts were wiped, deposits lost, or that the company had shut down operations. In a statement posted on its official X handle on Friday, the company described the allegations as “false, malicious, and misleading,” assuring users that their funds remain secure. “Our [&hellip;]
- [Bank78 Launches Nigeria’s First Fully Private Digital Bank, Targeting Trust-Driven and Affluent Consumers](https://thefintechinsights.com/bank78-launches-nigerias-first-fully-private-digital-bank-targeting-trust-driven-and-affluent-consumers/): Nigeria’s banking landscape has entered a new era with the official launch of Bank78 Microfinance Bank’s fully private digital bank which has been hailed as the first of its kind in the country. Designed for affluent, upwardly mobile and security-conscious customers, the new digital institution aims to deliver premium banking without compromising trust or transparency. [&hellip;]
- [NGX Closes November with N180 Billion Daily Gain Despite Worst Monthly Decline of 2025](https://thefintechinsights.com/ngx-closes-november-with-n180-billion-daily-gain-despite-worst-monthly-decline-of-2025/): The Nigerian Exchange (NGX) ended the last trading day of November 2025 on a positive note, recording a N180 billion daily gain on Friday, November 28. The rebound was driven largely by renewed interest in Consumer Goods, which gained 0.57%, supported by moderate advances in Banking (0.25%) and Industrial Goods (0.13%). However, despite the strong [&hellip;]
- [Google Unveils N3 Billion Fund to Accelerate AI Talent Development, Digital Safety Programs in Nigeria](https://thefintechinsights.com/google-unveils-n3-billion-fund-to-accelerate-ai-talent-development-digital-safety-programs-in-nigeria/): Google, through its philanthropic arm Google.org, has launched a N3 billion (US$2.1 million) funding initiative aimed at strengthening Nigeria’s digital ecosystem with a dual focus on advanced AI skills development and community digital safety. The two-pillar initiative, announced on Thursday, is designed to fast-track Nigeria’s ambitions for global competitiveness in artificial intelligence while supporting the [&hellip;]
- [CBN Orders Banks to Withdraw Non-Compliant Adverts, Introduces Stricter Marketing Rules](https://thefintechinsights.com/cbn-orders-banks-to-withdraw-non-compliant-adverts-introduces-stricter-marketing-rules/): The Central Bank of Nigeria (CBN) has issued a sweeping directive ordering all banks, payment service banks, and other regulated financial institutions to immediately withdraw any advertisement or promotional material that violates consumer-protection and fair-marketing rules. The instruction was delivered through a circular dated November 27, 2025, signed by Olubunmi Ayodele-Oni on behalf of the [&hellip;]
- [Nigeria Records N2.78tn Company Income Tax in Q2 2025 Amid Rising Corporate Profits](https://thefintechinsights.com/nigeria-records-n2-78tn-company-income-tax-in-q2-2025-amid-rising-corporate-profits/): Nigeria’s Company Income Tax (CIT) revenue surged to a record N2.78 trillion in the second quarter of 2025, marking a sharp 40.27% increase from the N1.98 trillion recorded in the previous quarter, according to new data released by the National Bureau of Statistics (NBS). The impressive growth reflects improved tax compliance, stronger corporate earnings, and [&hellip;]
- [NAICOM’s Recapitalisation Drive Gains Momentum, 18 Insurers Signal Readiness for Capital Verification](https://thefintechinsights.com/naicoms-recapitalisation-drive-gains-momentum-18-insurers-signal-readiness-for-capital-verification/): Nigeria’s sweeping insurance recapitalisation effort is entering a decisive phase, with the National Insurance Commission (NAICOM) confirming that 18 insurance companies have formally indicated readiness to undergo capital verification one of the most critical steps in meeting new solvency requirements. Speaking at the EY Insurance Summit 2025, NAICOM Commissioner for Insurance, Olusegun Omosehin, described the [&hellip;]
- [FCCPC Caps Digital Lenders to Five Apps Amid Fintech Credit Market Major Shake-Up](https://thefintechinsights.com/fccpc-caps-digital-lenders-to-five-apps-amid-fintech-credit-market-major-shake-up/): Nigeria’s fast-growing digital lending industry is bracing for its biggest regulatory overhaul yet as the Federal Competition and Consumer Protection Commission (FCCPC) introduces a new rule limiting operators to a maximum of five lending applications. The move, which comes with a hard January 5 compliance deadline, is expected to trigger widespread consolidation across a sector [&hellip;]
- [Nigeria’s Startup Funding Soars 130% in October, Hits Record $93.4 Million](https://thefintechinsights.com/nigerias-startup-funding-soars-130-in-october-hits-record-93-4-million/): Nigeria’s tech ecosystem regained strong momentum in October 2025, with startups securing $93.4 million in disclosed funding across eight deals, alongside one undisclosed round from entertainment-tech startup, Nairabox. The figure marks a significant 130.6% surge compared to the $40.5 million raised in September, signaling renewed investor confidence in Africa’s most vibrant startup market. Much of [&hellip;]
- [Moniepoint: The Nigerian Fintech Powerhouse Redefining Financial Access in Africa](https://thefintechinsights.com/moniepoint-the-nigerian-fintech-powerhouse-redefining-financial-access-in-africa/): Africa’s digital transformation has produced a generation of high-impact fintech giants, but few have shaped the continent’s financial ecosystem as decisively as Moniepoint. In under a decade, the Nigerian fintech company formerly known as TeamApt has scaled from a niche banking software developer into one of Africa’s most powerful and far-reaching digital finance platforms. Investor [&hellip;]
- [FairMoney Receives Upgraded Credit Ratings from Global Credit Ratings](https://thefintechinsights.com/fairmoney-receives-upgraded-credit-ratings-from-global-credit-ratings/): MyCredit Investments Limited (MIL), the operator of FairMoney Microfinance Bank, has received an upgraded national scale issuer rating from Global Credit Ratings (GCR), further solidifying its standing in Nigeria’s fast-growing digital lending and microfinance banking sector. GCR raised FairMoney’s long-term issuer rating from BBB(NG) to BBB+(NG) and its short-term rating from A3(NG) to A2(NG). The [&hellip;]
- [Private Sector Credit Jumps by ₦1.88 Trillion Amid CBN Monetary Policy Ease](https://thefintechinsights.com/private-sector-credit-jumps-by-%e2%82%a61-88-trillion-amid-cbn-monetary-policy-ease/): Private sector credit rose sharply in October 2025, climbing to ₦74.41 trillion from ₦72.53 trillion in September, according to new data from the Central Bank of Nigeria (CBN). The ₦1.88 trillion increase represents a 2.60% month-on-month rise, the strongest positive movement recorded in 2025. This rebound followed the Monetary Policy Committee’s (MPC) decision in September [&hellip;]
- [How Two Nigerian Graduates Built Midddleman Into a ₦2 Billion China–Africa Trade Platform](https://thefintechinsights.com/how-two-nigerian-graduates-built-midddleman-into-a-%e2%82%a62-billion-china-africa-trade-platform/): For years, African small and medium enterprises (SMEs) have relied on retail platforms like AliExpress and more recently Temu to source low-cost goods from China without travelling. While these platforms opened up access, they were never built for business needs such as reliability, customisation, factory pricing, and quality assurance. That gap has created space for [&hellip;]
- [Fintech Insights: The Future of Digital Finance in Africa](https://thefintechinsights.com/fintech-insights-the-future-of-digital-finance-in-africa/)
- [FG Partners NASRDA on Satellite Technology to Boost Agricultural Traceability, Protect Export Value](https://thefintechinsights.com/fg-partners-nasrda-on-satellite-technology-to-boost-agricultural-traceability-protect-export-value/): The Federal Government of Nigeria has entered into a strategic partnership with the National Space Research and Development Agency (NASRDA) to deploy satellite technology for agricultural traceability, farmland monitoring, and verification of deforestation-free supply chains. The agreement, sealed through a newly signed Memorandum of Understanding (MoU), is part of Nigeria’s broader effort to remain competitive [&hellip;]
- [FSD Launches $30m Inclusive Insurtech Investment Fund to Boost Insurance Innovation Across Africa](https://thefintechinsights.com/fsd-launches-30m-inclusive-insurtech-investment-fund-to-boost-insurance-innovation-across-africa/): FSD Africa has unveiled the Inclusive Insurtech Investment Fund (3iF), a new pan-African venture capital fund valued at $25–30 million and designed to accelerate insurance innovation while closing the continent’s widening protection gap. The fund will support early-stage insurtech startups building solutions that expand access to affordable and relevant insurance products. Despite Africa’s growing risk [&hellip;]
- [CBN Policy Shift Triggers Yield Drop Across Nigeria Financial Markets](https://thefintechinsights.com/cbn-policy-shift-triggers-yield-drop-across-nigeria-financial-markets/): Nigeria financial markets have reacted swiftly to the Central Bank of Nigeria’s (CBN) recent adjustment of the monetary policy corridor, recording broad-based yield declines across the money and bond markets. Although the Monetary Policy Committee (MPC) kept the Monetary Policy Rate (MPR) unchanged at 27%, it surprised the market by narrowing the asymmetric corridor to [&hellip;]
- [FG Targets Internet Access for 20 Million Nigerians Using NigComSat to Boost Telemedicine, Connectivity](https://thefintechinsights.com/fg-targets-internet-access-for-20-million-nigerians-using-nigcomsat-to-boost-telemedicine-connectivity/): The Federal Government plans to provide internet access to 20 million Nigerians through the Nigerian Communications Satellite Limited (NigComSat), according to the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani. Speaking through the Director of the National Centre for Artificial Intelligence and Robotics (NCAIR), Ajala Olubumi, at a public–private sector stakeholders’ roundtable hosted [&hellip;]
- [AfDB Approves Additional $500m Loan to Boost Nigeria’s Energy Transition and Governance Reforms](https://thefintechinsights.com/afdb-approves-additional-500m-loan-to-boost-nigerias-energy-transition-and-governance-reforms/): The African Development Bank (AfDB) Group has approved a fresh $500 million loan for the Federal Government of Nigeria to implement Phase Two of the Economic Governance and Energy Transition Support Programme (EGET-SP). The programme aims to accelerate improvements in Nigeria’s power infrastructure while promoting access to cleaner and more reliable energy sources. ALSO: FX [&hellip;]
- [Fintech Jobs: Apply For FairMoney Recruitment 2025 (Senior Product Manager)](https://thefintechinsights.com/fintech-jobs-apply-for-fairmoney-recruitment-2025-senior-product-manager/): FairMoney Recruitment 2025 for Senior Product Manager (Lending) is currently ongoing and is offering new opportunities for fintech job seekers looking to join one of Nigeria’s fastest-growing fintech platforms. FairMoney, a fast-growing mobile banking platform for emerging markets, is expanding its team. The fintech company that is well known for its digital microcredit app and [&hellip;]
- [Fintech Jobs: Apply For Massive OPay Recruitment 2025 (Nationwide Merchant Support Officer)](https://thefintechinsights.com/fintech-jobs-apply-for-massive-opay-recruitment-2025-nationwide-merchant-support-officer/): OPay Recruitment 2025 For nationwide Merchant Support Officer is currently ongoing and is offering new opportunities for fintech job seekers looking to join one of Nigeria’s fastest-growing fintech platforms. OPay is a leading mobile-based fintech platform offering payments, transportation, food and grocery delivery, and other essential services. The company aims to expand its field operations [&hellip;]
- [Fintech Jobs: Apply For Massive Moniepoint Recruitment 2025 For UI Designer, Software Engineer](https://thefintechinsights.com/fintech-jobs-apply-for-massive-moniepoint-recruitment-2025-for-ui-designer-software-engineer/): Moniepoint Recruitment 2025 For Product Design Lead, Senior UX / UI Designer, Senior Software Engineer, Senior Site Reliability Engineer, Business Relationship Manager, and Head, POS Operations is currently ongoing and is offering new opportunities for fintech job seekers looking to join one of Nigeria’s fastest-growing fintech platforms. Moniepoint Inc. which was formerly TeamApt Inc. and [&hellip;]
- [Fintech Jobs: PalmPay Recruitment 2025 For Finance Trainee, Sales Manager](https://thefintechinsights.com/fintech-jobs-palmpay-recruitment-2025-for-finance-trainee-sales-manager/):  PalmPay Recruitment 2025 For Finance Trainee, Sales Manager and Collection Officer is currently ongoing and is offering new opportunities for fintech job seekers looking to join one of Nigeria’s fastest-growing fintech platforms. PalmPay operates an inclusive financial ecosystem accessible to anyone with a smartphone. The company has an exclusive partnership with TECNO Mobile, Africa’s leading [&hellip;]
- [FG Crackdown on 28 Million Fraudulent Accounts Raises Fresh Questions About Fintech Trust](https://thefintechinsights.com/fg-crackdown-on-28-million-fraudulent-accounts-raises-fresh-questions-about-fintech-trust/): The Federal Government of Nigeria’s aggressive clampdown on online fraud which was recently executed in partnership with global tech giants has reshaped the conversation around digital banking security and user trust. With more than 28 million fraudulent accounts disabled and 58.9 million harmful content items removed, the scale of the operation signals both the severity [&hellip;]
- [OPay Wins Top Awards for Financial Crime Prevention and Compliance Excellence in 2025](https://thefintechinsights.com/opay-wins-top-awards-for-financial-crime-prevention-and-compliance-excellence-in-2025/): OPay, one of Nigeria’s leading financial technology companies has earned two major honours for outstanding organisational performance in financial crime prevention, governance, risk management, and compliance. The recognitions were presented at the 2025 GRC &amp; Financial Crime Prevention Awards, a platform that celebrates institutions committed to strengthening integrity and trust within the financial system. In [&hellip;]
- [Moniepoint Scoops Three Major Awards, Strengthening Its Position as Africa’s Leading Fintech Powerhouse](https://thefintechinsights.com/moniepoint-scoops-three-major-awards-strengthening-its-position-as-africas-leading-fintech-powerhouse/): Moniepoint Inc. has reinforced its reputation as one of Africa’s most innovative and impactful financial service providers after clinching three major industry honours that highlight its scale, technological leadership and commitment to financial inclusion. The company emerged Best SME Microfinance Bank of the Year for the second consecutive year at the 2025 BusinessDay BAFI Awards, [&hellip;]
- [AI Industry Enters 2026 With Caution as Growth Frenzy Meets Hard Questions](https://thefintechinsights.com/ai-industry-enters-2026-with-caution-as-growth-frenzy-meets-hard-questions/): After three years of explosive expansion and trillion-dollar valuations, the global artificial intelligence industry is heading into 2026 with optimism tempered by growing scrutiny and structural challenges. Global AI spending is projected to surpass $2 trillion in 2026, according to Gartner, as governments and corporations race to deploy AI technologies. But fears of a speculative [&hellip;]
- [FX Inflows Into Nigeria’s Currency Market Drop 24% as Naira Weakens Across Markets](https://thefintechinsights.com/fx-inflows-into-nigerias-currency-market-drop-24-as-naira-weakens-across-markets/): US dollar inflows into Nigeria’s official foreign exchange market fell sharply last week, sliding by 24% to $512.20 million, according to a market update from Coronation Merchant Bank Limited. The decline marks the second consecutive week of weakening FX inflows, driven largely by softer foreign portfolio investment (FPI) activity and reduced exporter proceeds. The sustained [&hellip;]
- [Nigerian Equities Rebound After Six Days of Losses, Add N95 Billion in Market Value](https://thefintechinsights.com/nigerian-equities-rebound-after-six-days-of-losses-add-n95-billion-in-market-value/): The Nigerian equities market recovered on Tuesday, November 25, snapping a six-day losing streak as investors gained renewed confidence following the Central Bank of Nigeria’s (CBN) decision to retain key monetary policy parameters. Market capitalization rose by N95 billion to N91.441 trillion, while the All-Share Index (ASI) advanced by 148.52 points (0.10%) to close at [&hellip;]
- [MTN Nigeria to Resume Dividend Payout with ₦5 Interim Distribution After Strong 2025 Earnings](https://thefintechinsights.com/mtn-nigeria-to-resume-dividend-payout-with-%e2%82%a65-interim-distribution-after-strong-2025-earnings/): MTN Nigeria Communications Plc (MTNN) will this week resume dividend payments to shareholders after a two-year pause, following a strong earnings performance in the first nine months of 2025. In a corporate disclosure to the Nigerian Exchange obtained by Fintechinsights, the telecom giant announced that its Board of Directors has approved an interim dividend of [&hellip;]
- ["New Tax Reforms Will Curb Multiple Taxation and Boost Business Growth" - ACCI](https://thefintechinsights.com/new-tax-reforms-will-curb-multiple-taxation-and-boost-business-growth-acci/): The Abuja Chamber of Commerce and Industry (ACCI) has said Nigeria’s newly enacted tax reforms will eliminate multiple taxation, improve transparency, and create a more business-friendly revenue system that enhances competitiveness. ACCI President, Chief Emeka Obegolu, stated this on Tuesday during the Abuja Business Tax Roundtable 2025, a high-level forum for business leaders and experts [&hellip;]
- [FG Pushes Major Digitisation Drive for Cooperative Sector Ahead of 2026 Reform Programme](https://thefintechinsights.com/fg-pushes-major-digitisation-drive-for-cooperative-sector-ahead-of-2026-reform-programme/): The Federal Government has unveiled a major policy push to digitalize Nigeria’s cooperative sector, positioning technology as a central pillar of the proposed Cooperative Reform Programme set for rollout in 2026. Minister of State for Agriculture and Food Security, and Coordinating Minister for Cooperative Reform, Dr. Aliyu Abdullahi, announced the initiative at a national symposium [&hellip;]
- [Equities Market Opens Week Lower as Sector-Wide Losses Drag NGX Index Down 0.08%](https://thefintechinsights.com/equities-market-opens-week-lower-as-sector-wide-losses-drag-ngx-index-down-0-08/): Nigeria’s equities market opened the week on a bearish note, as gains in GTCO Plc, Access Holdings Plc, and 14 other stocks were insufficient to counter broad-based losses across major sectors particularly financial services at Monday’s trading session. The benchmark Nigerian Exchange (NGX) All-Share Index (ASI) slipped 0.08% to 143,614.61 points, down from 143,722.62 points [&hellip;]
- [CBN Holds MPR at 27% as MPC Maintains Tight Stance to Tame Inflation, Stabilise FX Market](https://thefintechinsights.com/cbn-holds-mpr-at-27-as-mpc-maintains-tight-stance-to-tame-inflation-stabilise-fx-market/): The Central Bank of Nigeria (CBN) has left its benchmark interest rate unchanged at 27 percent, reinforcing its tight monetary stance as it works to curb inflationary pressures and stabilise the foreign exchange market. The decision was announced at the conclusion of the Monetary Policy Committee (MPC) meeting in Abuja, where members voted overwhelmingly to [&hellip;]
- [16 Nigerian Banks Meet CBN Recapitalisation Target Ahead of 2026 Deadline](https://thefintechinsights.com/16-nigerian-banks-meet-cbn-recapitalisation-target-ahead-of-2026-deadline/): The Central Bank of Nigeria (CBN) has confirmed that 16 banks have met its recapitalisation requirement, signaling steady progress toward the March 2026 compliance deadline. CBN Governor Olayemi Cardoso announced the update on Tuesday during a press briefing monitored by Fintechinsights following the Monetary Policy Committee (MPC) meeting in Abuja. The figure marks an improvement [&hellip;]
- [CBN Issues New Directive Clarifying Minimum Paid-Up Capital for Banks, HoldCos](https://thefintechinsights.com/cbn-issues-new-directive-clarifying-minimum-paid-up-capital-for-banks-holdcos/): The Central Bank of Nigeria (CBN) has issued a definitive clarification on how banks and financial holding companies (HoldCos) must compute their minimum paid-up capital, ending weeks of regulatory uncertainty that contributed to delays in the release of some lenders’ financial results. In a circular dated November 14, 2025, the apex bank ruled that minimum [&hellip;]
- [MDR Investments Accelerates $2 Billion Africa Expansion Under Prateek Suri](https://thefintechinsights.com/mdr-investments-accelerates-2-billion-africa-expansion-under-prateek-suri/): MDR Investments, the investment arm of Maser Group, is rapidly scaling its footprint across Africa and other emerging markets as it pushes forward with an ambitious expansion strategy valued at up to $2 billion. Spearheaded by Prateek Suri, the influential entrepreneur behind global technology brand Maser and a leading figure in Africa’s investment landscape, MDR [&hellip;]
- [NIBSS Unveils Next-Gen Payment Infrastructure Aimed at Deepening Fintech Integration](https://thefintechinsights.com/nibss-unveils-next-gen-payment-infrastructure-aimed-at-deepening-fintech-integration/): Nigeria’s digital payments landscape has entered a new era with the successful execution of the first live transaction on the National Payment Stack (NPS), a landmark moment that signals the nation’s transition to a modern and globally aligned financial infrastructure. The breakthrough transaction, carried out between PalmPay and Wema Bank at exactly 11:56 a.m. on [&hellip;]
- [Nigeria Inflation Rate Drops to 16.05% as CBN Reforms Boost Naira Stability](https://thefintechinsights.com/nigeria-inflation-rate-drops-to-16-05-as-cbn-reforms-boost-naira-stability/): Nigeria inflation rate has continued its downward trend, easing to 16.05% in October from 18.02% in September 2025, driven by the Central Bank of Nigeria’s (CBN) monetary policy easing and the positive impact of key macroeconomic reforms. The reforms have also helped stabilise the naira and pushed foreign reserves to $46 billion. The CBN is [&hellip;]
- [How to Safely Invest in Commercial Papers in Nigeria and Earn Higher Returns](https://thefintechinsights.com/how-to-safely-invest-in-commercial-papers-in-nigeria-and-earn-higher-returns/): Commercial paper (CP) has become one of the most popular short-term investment options in Nigeria as companies increasingly use it to raise working capital. CPs are unsecured debt instruments issued by corporates and typically have maturities ranging from 90 to 364 days. Because these instruments are not backed by collateral, investors rely heavily on the [&hellip;]
- [FG Launches Student Venture Capital Grant, Offers Up to N50 Million Equity-Free Funding](https://thefintechinsights.com/fg-launches-student-venture-capital-grant-offers-up-to-n50-million-equity-free-funding/): The Federal Government of Nigeria has officially opened the application portal for the Student Venture Capital Grant (S-VCG), a flagship initiative under the Renewed Hope Agenda designed to transform student-led innovations into commercially viable, high-impact ventures. Boriowo Folasade, Director of Press and Public Relations at the Federal Ministry of Education, announced the launch on Friday, [&hellip;]
- [Fintech Firm Launches Anti-Fraud Campaign, Warns Users Against Rising Digital Scams](https://thefintechinsights.com/fintech-firm-launches-anti-fraud-campaign-warns-users-against-rising-digital-scams/): PalmPay, a leading mobile payments and digital wallet provider in Nigeria, has rolled out a major anti-fraud awareness campaign in Kano as part of its drive to curb the growing wave of cybercrime targeting digital finance users. Speaking at the campaign launch on Tuesday, Managing Director Chika Nwosu said the initiative underscores PalmPay’s commitment to [&hellip;]
- [CBN Reaffirms Commitment to Financial Inclusion, Monetary Stability at 2025 Awka Fair](https://thefintechinsights.com/cbn-reaffirms-commitment-to-financial-inclusion-monetary-stability-at-2025-awka-fair/): The Central Bank of Nigeria (CBN) has reiterated its dedication to enhancing national productivity, deepening financial inclusion, and maintaining monetary and price stability as part of ongoing efforts to strengthen Nigeria’s economic foundation. At the 2025 CBN Fair held at the International Convention Centre in Awka, Anambra State monitored by Fintechinsights, the Bank engaged residents [&hellip;]
- [CBN Executes Over N5 Trillion in Debt Repayments Amid Liquidity Strain, Volatile Market Conditions](https://thefintechinsights.com/cbn-executes-over-n5-trillion-in-debt-repayments-amid-liquidity-strain-volatile-market-conditions/): The Central Bank of Nigeria (CBN) executed more than N5 trillion in debt repayments between Friday, November 14 and Friday, November 21, a turbulent week marked by declining bank placements and heightened liquidity pressures. According to data tracked by Fintechinights, the apex bank settled N3.9 trillion in Open Market Operation (OMO) obligations and an additional [&hellip;]
- [Top Corporates In Nigeria Pay Record N2.15 Trillion In Taxes Despite Tough Economy](https://thefintechinsights.com/top-corporates-in-nigeria-pay-record-n2-15-trillion-in-taxes-despite-tough-economy/): Nigeria’s corporate sector has delivered a major boost to government revenue, paying a record N2.15 trillion in taxes in the first nine months of 2025 despite facing severe economic headwinds including soaring inflation, FX volatility, weak consumer spending, and rising operational costs. Fresh analysis of cashflow statements obtained from 64 publicly listed companies by Fintechinsights, [&hellip;]
- [Fidelity Bank Delivers Incredible Q3 2025 Results Amid Interest, Fee Income Surge](https://thefintechinsights.com/fidelity-bank-delivers-incredible-q3-2025-results-amid-interest-fee-income-surge/): Fidelity Bank Plc has reported another quarter of solid financial performance, with its unaudited Q3 2025 results showing strong growth across major income lines and continued balance sheet expansion. According to the financial statements released on the Nigerian Exchange Group (NGX) platform on November 21, 2025 which was made available to Fintechinsights on Friday, Fidelity [&hellip;]
- [FG Tax Reform Sparks Privacy Concerns Amid New Data-Tracking Powers In Nigeria](https://thefintechinsights.com/fg-tax-reform-sparks-privacy-concerns-amid-new-data-tracking-powers-in-nigeria/): Nigeria’s sweeping new tax framework that is set to take effect in January 2026 is igniting intense debate over how much access government agencies should have to citizens’ personal financial data as part of an aggressive effort to expand the tax base. The reforms, signed into law on June 26, 2025, consolidate four major pieces [&hellip;]
- [DMO Upsizes November Bond Reopening to N500bn as Liquidity Boost Supports Strong Demand](https://thefintechinsights.com/dmo-upsizes-november-bond-reopening-to-n500bn-as-liquidity-boost-supports-strong-demand/): Nigeria’s Debt Management Office (DMO) will on Monday, November 24, 2025, return to the domestic bond market with a materially upsized offering, targeting between N400 billion and N500 billion through the reopening of two benchmark Federal Government of Nigeria (FGN) bonds. The issuance represents a notable expansion relative to the initial guidance provided at the [&hellip;]
- [AICPA, CIMA Partner with Two Nigerian Universities to Launch CGMA Finance Leadership Programme](https://thefintechinsights.com/aicpa-cima-partner-with-two-nigerian-universities-to-launch-cgma-finance-leadership-programme/): The American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA) have partnered with Thomas Adewumi University and Landmark University to roll out the CGMA Finance Leadership Programme in the country in a calculated move to strengthen Nigeria’s pipeline of future finance leaders, The programme which is fully digital, self-paced, [&hellip;]
- [Alpha Morgan Bank Seeks Court Order to Recover N230.9m Lost to System Glitch, Fraudulent Transfers](https://thefintechinsights.com/alpha-morgan-bank-seeks-court-order-to-recover-n230-9m-lost-to-system-glitch-fraudulent-transfers/): Alpha Morgan Bank Limited, one of Nigeria’s newest commercial banks is racing to recover approximately N230.9 million allegedly siphoned from the accounts of two corporate clients after a system glitch enabled unauthorized withdrawals. &nbsp; The disputed funds which amounted to N230,978,536 in total were reportedly moved from the accounts of NEM Insurance Plc and Extension [&hellip;]
- [Africa’s $100bn SME Credit Gap Forces a New Era of Bank–Fintech–Telco Convergence](https://thefintechinsights.com/africas-100bn-sme-credit-gap-forces-a-new-era-of-bank-fintech-telco-convergence/): Africa’s chronic $100 billion financing gap for small and medium enterprises is accelerating a wave of cross-sector alliances that would have seemed improbable a decade ago. Banks, telecom operators, and fintech startups which were once positioned as rivals are currently tying their futures together as they confront one of the continent’s most stubborn structural barriers: [&hellip;]
- [Bitget’s Stock-Linked Perpetual Futures Blast Past $5B, Users Embrace Unified Crypto–Equities Trading](https://thefintechinsights.com/bitgets-stock-linked-perpetual-futures-blast-past-5b-users-embrace-unified-crypto-equities-trading/): Bitget, one of the world’s largest Universal Exchange (UEX) has revealed that the demand for its US stock-linked perpetual futures exploded, pushing cumulative trading volume beyond $5 billion only days after its last product update. &nbsp; According to CEO Gracy Chen, &#8221; the surge underscores a clear shift in user behavior, traders increasingly want equities [&hellip;]
- [S&P Global Ratings Officially Dismisses Claims of Bias in African Sovereign Ratings](https://thefintechinsights.com/sp-global-ratings-officially-dismisses-claims-of-bias-in-african-sovereign-ratings/): S&amp;P Global Ratings has pushed back against renewed accusations that it applies unfair and discriminatory standards to African sovereign borrowers, insisting its methodologies are uniform, transparent, and decades-old. Roberto Sifon-Arevalo, S&amp;P’s global head of sovereign ratings, defended the firm’s approach during an interview with Fintechinsights on the sidelines of an S&amp;P-hosted event at the G20 [&hellip;]
- [Polaris Bank Launches Free Prostate Cancer Screening for 250 Men to Mark International Men’s Day](https://thefintechinsights.com/polaris-bank-launches-free-prostate-cancer-screening-for-250-men-to-mark-international-mens-day/): Polaris Bank has renewed its commitment to men’s health with the launch of its 2025 free prostate cancer screening campaign, offered in partnership with the renowned Men’s Health Clinic. The initiative, themed “Men, Your Health Matters – Get Screened Today!”, is set to provide free prostate cancer screening to 250 men aged 40 and above [&hellip;]
- [Top 5 Expert Tips To Spot a Pump-and-Dump Stock on the NGX](https://thefintechinsights.com/top-5-expert-tips-to-spot-a-pump-and-dump-stock-on-the-ngx/): Nigeria’s stock market has become increasingly vibrant, thanks to a wave of retail investors entering the NGX. But with rising participation comes a familiar danger: stocks whose prices soar not because of genuine business strength, but due to deliberate manipulation. What Exactly Is a Pump-and-Dump Stock? Pump-and-dump stocks are equities that experience sudden, unjustified price [&hellip;]
- [Nigeria’s AI Bill Sparks Fierce Debate: Catalyst for Innovation or Barrier to Local Builders?](https://thefintechinsights.com/nigerias-ai-bill-sparks-fierce-debate-catalyst-for-innovation-or-barrier-to-local-builders/): Nigeria’s proposed Artificial Intelligence (AI) Bill is emerging at a critical turning point in the country’s technological journey. As global AI competition intensifies and local developers experiment with new breakthroughs, the legislation is being framed as the blueprint that will guide Africa’s largest economy into the next era of digital innovation. Yet behind the bold [&hellip;]
- [Top 10 Fintech Apps in Nigeria By Downloads In Google Play Store (Q3 2025)](https://thefintechinsights.com/top-10-fintech-apps-in-nigeria-by-downloads-in-google-play-store-q3-2025/): Nigeria’s fintech industry continues to reshape the country’s financial landscape, ending Q3 2025 with surging user engagement and sustained growth in mobile app adoption. From digital banks to payment platforms and lending apps, fintech solutions are redefining how Nigerians save, borrow, and transact while setting new standards for innovation, security, and accessibility. According to data [&hellip;]
- [OPay Surpasses 20 Million Daily Users, Enters Global Top 10 Fintech Apps](https://thefintechinsights.com/opay-surpasses-20-million-daily-users-enters-global-top-10-fintech-apps/): OPay, a fast-growing fintech powerhouse serving emerging markets has achieved a significant milestone, surpassing 20 million daily active users and 36 million monthly active users worldwide. &nbsp; The latest industry rankings place OPay among the top 10 fintech applications globally by daily user activity and further affirmed its rapid ascent as one of the most [&hellip;]
- [SEC To Prioritize ISA Reforms, Fintech-Driven Oversight At 2025 Compliance Summit](https://thefintechinsights.com/sec-to-prioritize-isa-reforms-fintech-driven-oversight-at-2025-compliance-summit/): The Securities and Exchange Commission (SEC) has vowed to prioritse Investments and Securities Act (ISA) and the integration of technology-led compliance systems reforms at the 2025 SEC/Nigerian Capital Market Institute (NCMI) Compliance Summit. &nbsp; The annual summit, slated for November 24–25 in Lagos, builds on the momentum of last year’s edition and is expected to [&hellip;]
- [CBN Flags Zuldal Microfinance Bank As Illegal, Not Licensed To Operate In Nigeria](https://thefintechinsights.com/cbn-flags-zuldal-microfinance-bank-as-illegal-not-licensed-to-operate-in-nigeria/): The Central Bank of Nigeria (CBN) has flagged all the activities of an entity operating under the name Zuldal Microfinance Bank Limited as illegal and lacks operational license in Nigeria. &nbsp; Investigations by Fintechinsights revealed that Zuldal have branches in Lagos, Abuja, Kaduna, and Kano, and claimed to be licensed by the CBN to carry [&hellip;]
- [CBN Grants Opay, Moniepoint and PalmPay National Operating Status](https://thefintechinsights.com/cbn-grants-opay-moniepoint-and-palmpay-national-operating-status/): The Central Bank of Nigeria (CBN) has approved the upgrade of Opay, Moniepoint, and PalmPay to national operational status, clearing the way for the fintech firms to operate fully across Nigeria after a comprehensive regulatory and compliance review. &nbsp; The apex bank said the approvals followed detailed assessments of the companies’ capital adequacy, corporate governance frameworks, risk management systems, and operational capacity, enabling the removal of earlier geographical and operational limitations and allowing the fintechs to scale their services nationwide. &nbsp; The license upgrades mark a significant regulatory shift after a prolonged period of heightened oversight in the fintech sector, [&hellip;]
- [FairMoney Disburses ₦150bn in Loans, Pays Over ₦7bn Interest on Savings](https://thefintechinsights.com/fairmoney-disburses-%e2%82%a6150bn-in-loans-pays-over-%e2%82%a67bn-interest-on-savings/): FairMoney Microfinance Bank (MFB) has announced that it disbursed more than ₦150 billion in loans over the past year, while paying over ₦7 billion in interest to savings customers, underscoring its growing role in Nigeria’s digital financial ecosystem. &nbsp; Founded in 2021 as one of Nigeria’s pioneering platforms for instant credit access, FairMoney has rapidly evolved into a CBN-licensed microfinance bank, expanding its offerings beyond lending to include high-interest savings accounts, fixed deposits, current accounts, debit cards, and POS solutions for businesses. The expansion reflects the bank’s broader mission to promote financial inclusion through accessible, user-friendly, and competitively priced financial [&hellip;]
- [Top 5 NGX Penny Stocks to Watch in 2026 Amid Nigeria’s Recapitalization Drive](https://thefintechinsights.com/top-5-ngx-penny-stocks-to-watch-in-2026-amid-nigerias-recapitalization-drive/): As the Nigerian Exchange (NGX) enters a defining phase in 2026, investor attention is increasingly shifting to low-priced equities, commonly known as penny stocks. With the Central Bank of Nigeria (CBN) and the National Insurance Commission (NAICOM) tightening recapitalization requirements across key financial sectors, the market is undergoing a natural selection process that is exposing undervalued stocks with the balance-sheet strength to endure and potentially outperform. While penny stocks are traditionally associated with high volatility, the current regulatory push is separating “the wheat from the chaff,” spotlighting companies with improving earnings profiles, sound governance, and defensible business models. Insurance Sector: [&hellip;]
- [Paystack Acquires Ladder Microfinance Bank, Enters Regulated Banking and Lending in Nigeria](https://thefintechinsights.com/paystack-acquires-ladder-microfinance-bank-enters-regulated-banking-and-lending-in-nigeria/): Paystack has acquired Ladder Microfinance Bank in a strategic move to expand beyond payments and formally enter regulated banking and lending in Nigeria. The acquisition gives Paystack a microfinance banking licence, allowing the fintech company to accept deposits and issue loans Services it could not previously provide under its switching and payments-only licence. The newly acquired institution will be rebranded as Paystack Microfinance Bank (Paystack MFB) and will operate as a separate, fully regulated entity within the Paystack group. Speaking to Fintech Insights, Paystack’s Chief Operating Officer, Amadine Lobelle, said Paystack MFB will initially focus on lending products for businesses, [&hellip;]
- [FG Directs Banks, Fintechs to Charge 7.5% VAT on Electronic, USSD Banking Services](https://thefintechinsights.com/fg-directs-banks-fintechs-to-charge-7-5-vat-on-electronic-ussd-banking-services/): The Federal Government has directed all banks and financial technology companies to begin collecting and remitting a 7.5 per cent value-added tax (VAT) on selected electronic banking services, effective Monday, January 19, 2026. &nbsp; The directive was communicated to customers through email notices issued by payment platforms, including Moniepoint, on Wednesday. According to the notice, the VAT will apply to electronic banking charges such as mobile money transfer fees, USSD transaction fees, and card issuance fees. &nbsp; Under the new arrangement, the VAT will be charged on the service fee only, not on the amount being transferred. For instance, if [&hellip;]
- [NGX Lists 3.16bn New UBA Shares as Bank Crosses CBN N500bn Capital Threshold](https://thefintechinsights.com/ngx-lists-3-16bn-new-uba-shares-as-bank-crosses-cbn-n500bn-capital-threshold/): The Nigerian Exchange Limited (NGX) has admitted an additional 3.16 billion ordinary shares of United Bank for Africa (UBA) Plc to its Daily Official List, a move expected to significantly boost the bank’s market capitalisation and deepen liquidity in the capital market. &nbsp; In a confirmatory letter dated January 12, 2026, the NGX said the additional shares were listed following the successful completion of UBA’s recent rights issue. The letter, signed by the Head of the Issuer Regulation Department at NGX, Godstime Iwenkehai, confirmed that 3,156,869,665 ordinary shares of 50 kobo each, offered at N50 per share on the basis [&hellip;]
- [FG Unveils $2bn Energy Transition Fund, Seeks $30bn Annual Investment](https://thefintechinsights.com/fg-unveils-2bn-energy-transition-fund-seeks-30bn-annual-investment/): The Federal Government says it is placing green finance at the centre of Nigeria’s energy transition strategy, with President Bola Tinubu unveiling plans for a $2 billion national climate fund to support low-carbon and climate-resilient projects. &nbsp; Speaking on Tuesday at the Abu Dhabi Sustainability Week summit, the president said Nigeria’s Climate Investment Platform is expected to mobilise an initial $500 million for climate-resilient infrastructure, while the proposed National Climate Change Fund is targeting a total capitalisation of $2 billion. The fund will back projects aimed at reducing emissions and strengthening the country’s resilience to climate risks. &nbsp; Tinubu also [&hellip;]
- [World Bank Projects Nigeria’s Fastest Growth in a Decade at 4.4% in 2026, 2027](https://thefintechinsights.com/world-bank-projects-nigerias-fastest-growth-in-a-decade-at-4-4-in-2026-2027/): The World Bank has projected that Nigeria’s economy will grow by 4.4 percent in both 2026 and 2027, marking what it described as the country’s fastest growth pace in more than a decade. &nbsp; In its Global Economic Prospects report released in January 2026, the Bank retained its 2027 growth forecast for Nigeria at 4.4 percent and upgraded its 2026 estimate to the same level, from the 3.7 percent projection published in its June 2025 report. The upward revision reflects growing optimism about Nigeria’s medium-term outlook, supported by improving macroeconomic conditions despite persistent structural challenges. &nbsp; The projection comes after [&hellip;]
- [FairMoney MD Says Bank–Fintech Collaboration Key to Financial Inclusion, Nigeria’s $1tn Economy Goal](https://thefintechinsights.com/fairmoney-md-says-bank-fintech-collaboration-key-to-financial-inclusion-nigerias-1tn-economy-goal/): The Managing Director of FairMoney Microfinance Bank, Henry Obiekea, has said that closer collaboration between traditional banks and fintech companies will be critical to expanding financial inclusion and driving Nigeria’s ambition to build a $1 trillion economy. &nbsp; In a thought leadership article made available to Fintech Insights by IVI PR on Monday, Obiekea said Nigeria has entered a new phase of economic transition in 2026, moving from macroeconomic stabilisation to growth and expansion. &nbsp; According to him, the combination of conventional banks’ financial strength and fintechs’ digital agility can bring millions more Nigerians into the formal financial system. &nbsp; [&hellip;]
- [CBN Policy Squeezes Private Sector Credit Despite Strong Liquidity, Raises 2026 Turning Point Hopes](https://thefintechinsights.com/cbn-policy-squeezes-private-sector-credit-despite-strong-liquidity-raises-2026-turning-point-hopes/): Nigeria’s private sector credit market is beginning to show signs of strain under the weight of the Central Bank of Nigeria’s (CBN) prolonged tight monetary stance, even as broader liquidity indicators and external buffers continue to strengthen. New data from the apex bank point to a financial system caught between the gains of macroeconomic stabilisation and the pressing need to unlock growth-supporting credit, a tension that could define policy choices in 2026. &nbsp; According to the CBN, private sector credit extension (PSCE) edged up by just 0.3 percent month on month to N74.6 trillion in November 2025. While the marginal [&hellip;]
- [Premier Cool, PalmPay Launch N100m ‘10K for 10K’ Promo to Reward 10,000 Nigerians](https://thefintechinsights.com/premier-cool-palmpay-launch-n100m-10k-for-10k-promo-to-reward-10000-nigerians/): Premier Cool, Nigeria’s leading antibacterial cooling bar soap, has launched a nationwide consumer promotion tagged “10K for 10K”, in partnership with digital banking platform PalmPay, aimed at rewarding loyal customers with instant cash prizes. &nbsp; Under the promotion, 10,000 Nigerians will each receive ₦10,000, translating to a total cash payout of ₦100 million. The campaign runs from January 12 to April 11, 2026, with 111 winners emerging daily over the three-month period. All rewards will be paid instantly into winners’ PalmPay wallets. &nbsp; Speaking at the launch, Managing Director of PZ Cussons Africa, Oghale Elueni, said the initiative was designed [&hellip;]
- [Access Bank, Visa Launch Corporate Credit Card to Boost Working Capital, Digitise Business Expenses](https://thefintechinsights.com/access-bank-visa-launch-corporate-credit-card-to-boost-working-capital-digitise-business-expenses/): Access Bank Plc has partnered with Visa Inc. to introduce a corporate credit card designed to help medium and large Nigerian companies better manage working capital and digitise everyday business expenses, as banks and payment firms expand deeper into corporate finance services. &nbsp; The Access Bank Visa Corporate Credit Card offers an interest-free period of up to 45 days, providing chief financial officers and treasurers with short-term liquidity to meet supplier obligations while preserving cash flow. According to the bank, the product is structured to help businesses optimise their days payable outstanding, a critical metric for working-capital efficiency. &nbsp; ALSO: [&hellip;]
- [FG Debunks Claims of N500,000 Cap on Card Payments, Clarifies CBN ATM Policy](https://thefintechinsights.com/fg-debunks-claims-of-n500000-cap-on-card-payments-clarifies-cbn-atm-policy/): The Federal Government has dismissed claims that card payments in Nigeria are capped at N500,000, clarifying that no such limit exists on total card transactions in the country. &nbsp; The clarification was made on Monday by the Special Assistant to the President on Social Media, Dada Olusegun, via his official X account, following public speculation sparked by comments from social critic Daniel Regha, who alleged that the Central Bank of Nigeria (CBN) had imposed a N500,000 limit on the use of Automated Teller Machines (ATMs). &nbsp; According to Dada, the claims are a misinterpretation of an existing CBN policy that [&hellip;]
- [FG Attacks KPMG Over New Tax Laws Criticism, Labels Report Policy Misinterpretation](https://thefintechinsights.com/fg-attacks-kpmg-over-new-tax-laws-criticism-labels-report-policy-misinterpretation/): Nigeria’s Presidential Fiscal Policy and Tax Reforms Committee has pushed back against criticisms of the country’s new tax laws, arguing that many of the concerns raised by KPMG Nigeria stem from misunderstandings of policy intent rather than genuine legislative gaps or errors. &nbsp; In a detailed response to KPMG’s report, “Nigeria’s New Tax Laws: Inherent Errors, Inconsistencies, Gaps and Omissions,” the committee acknowledged that some observations relating to implementation risks and clerical cross-referencing issues were valid. However, it maintained that much of the analysis misrepresented deliberate policy choices as technical flaws. According to the committee, differences in policy opinion should [&hellip;]
- [KPMG Flags Errors and Gaps in Nigeria’s New Tax Laws, Warns of Risks to Investment and Growth](https://thefintechinsights.com/kpmg-flags-errors-and-gaps-in-nigerias-new-tax-laws-warns-of-risks-to-investment-and-growth/): KPMG Nigeria has raised concerns over what it described as “errors, inconsistencies, gaps and omissions” in Nigeria’s new tax laws, warning that unresolved issues could weaken the reforms’ ability to achieve their stated objectives. The professional services firm said the problems, identified in the laws that took effect at the start of the year, may undermine efforts to boost revenue, simplify tax administration and improve Nigeria’s investment competitiveness. &nbsp; The reforms are anchored on the Nigeria Tax Act (NTA) and the Nigeria Tax Administration Act (NTAA), alongside the Nigeria Revenue Service (NRS) Establishment Act and the Joint Revenue Board (JRB) [&hellip;]
- [CBN FX Interventions Lift Dollar Inflows 38% in December as Market Liquidity Improves](https://thefintechinsights.com/cbn-fx-interventions-lift-dollar-inflows-38-in-december-as-market-liquidity-improves/): Dollar inflows into Nigeria’s foreign exchange market rebounded by 38 percent month on month in December 2025, buoyed by increased foreign exchange sales from the Central Bank of Nigeria (CBN), according to data from FMDQ. Total FX inflows rose to $2.8 billion, reversing part of the sharp 67 percent contraction recorded in November. Despite the recovery, December’s inflow level remained the second weakest in the past 16 months, highlighting persistent vulnerabilities in FX supply. While inflows from domestic corporates dipped by 5 percent to $420 million, all other supply sources posted gains. &nbsp; Analysts at FBNQuest attributed the rebound largely [&hellip;]
- [NCC, CBN Launch Framework to Ensure 30-Second Refunds for Failed Airtime, Data Transactions](https://thefintechinsights.com/ncc-cbn-launch-framework-to-ensure-30-second-refunds-for-failed-airtime-data-transactions/): The Nigerian Communications Commission (NCC) has announced a new joint framework with the Central Bank of Nigeria (CBN) aimed at resolving consumer complaints arising from failed airtime and data transactions. &nbsp; In a statement on Thursday, NCC spokesperson Nneka Ukoha said the framework is designed to guarantee refunds within 30 seconds for subscribers who are debited without receiving value due to network downtime, system glitches, or human errors. &nbsp; Ukoha explained that the initiative followed months of engagements involving the NCC, the CBN, mobile network operators (MNOs), value-added service (VAS) providers, deposit money banks (DMBs), and other stakeholders. The collaboration [&hellip;]
- [CBN Signals No Early Rate Relief, ₦2.7 Trillion Flows Into OMO Bills](https://thefintechinsights.com/cbn-signals-no-early-rate-relief-%e2%82%a62-7-trillion-flows-into-omo-bills/): The Central Bank of Nigeria (CBN) began the 2026 monetary year with strong investor appetite at its first Open Market Operations (OMO) auctions, attracting total subscriptions of ₦2.727 trillion across two medium-term tenors. &nbsp; Results of the January 6, 2026 auction showed demand was heavily skewed toward the longer end of the curve, underscoring market expectations that tight monetary conditions will persist. The 210-day OMO bill drew ₦2.451 trillion in subscriptions, dwarfing the ₦277 billion recorded for the shorter 161-day tenor. &nbsp; In line with its liquidity-tightening stance, the CBN fully allotted the longer-dated instrument, which matures on August 4, [&hellip;]
- [Nigeria’s Money Supply Hits Record ₦122.9 Trillion Despite CBN’s Tightening Policies](https://thefintechinsights.com/nigerias-money-supply-hits-record-%e2%82%a6122-9-trillion-despite-cbns-tightening-policies/): Nigeria’s broad money supply has climbed to a historic high of ₦122.95 trillion, highlighting the continued expansion of liquidity in the economy even as the Central Bank of Nigeria (CBN) maintains an aggressive monetary tightening stance to curb inflation and stabilise the foreign exchange market. &nbsp; Latest data from the apex bank show that broad money (M3) rose by 12.8 per cent year-on-year in November 2025, representing an increase of ₦13.98 trillion from ₦108.97 trillion recorded in November 2024. The figures underscore the scale of liquidity growth over the past year despite repeated interest rate hikes and other contractionary policy [&hellip;]
- [UBA Raises ₦178.3bn Rights Issue to Surpass ₦500bn CBN Capital Threshold For Tier-1 Banks](https://thefintechinsights.com/uba-raises-%e2%82%a6178-3bn-rights-issue-to-surpass-%e2%82%a6500bn-cbn-capital-threshold-for-tier-1-banks/): United Bank for Africa (UBA) has successfully raised ₦178.3 billion through a rights issue, lifting its capital base above the ₦500 billion minimum required for Tier 1 banks with international licences under the Central Bank of Nigeria’s (CBN) recapitalisation framework. &nbsp; The bank confirmed the milestone after concluding the rights offer in September 2025, marking a major step toward early compliance with the CBN’s directive, which has a March 31, 2026 deadline. &nbsp; The latest raise builds on UBA’s ₦239 billion rights issue completed in November 2024, which had increased its capital base to ₦355.2 billion. With the additional ₦178.3 [&hellip;]
- [FCMB, Polaris, Keystone Banks Among Lenders Racing to Meet CBN Recapitalisation Deadline](https://thefintechinsights.com/fcmb-polaris-keystone-banks-among-lenders-racing-to-meet-cbn-recapitalisation-deadline/): As the March 31, 2026 recapitalisation deadline draws closer, Polaris Bank, Keystone Bank, FCMB and several others are yet to fully conclude their capital-raising processes, raising uncertainty over their ability to meet the Central Bank of Nigeria’s (CBN) new requirements. &nbsp; As of January 8, 2026, industry checks show that Polaris Bank, Keystone Bank, Unity Bank, Alpha Morgan Bank, Parallex Bank, Signature Bank, SunTrust Bank, Titan Trust Bank, Union Bank and FCMB Group remain at various stages of recapitalisation, with none yet receiving final certification of their new capital base from the apex bank. &nbsp; Although these lenders have initiated [&hellip;]
- [Africa Startup Funding Rebounds 41% to $3.2bn in 2025](https://thefintechinsights.com/africa-startup-funding-rebounds-41-to-3-2bn-in-2025/): Africa’s startup ecosystem rebounded strongly in 2025, with venture-backed companies raising between $3.1 billion and $3.2 billion, a 41 percent jump from the $2.2 billion recorded in 2024. The recovery ends a two-year funding slump and signals renewed investor confidence, although capital flows remained uneven across the continent, highlighting structural shifts in how and where investors are deploying funds. &nbsp; Ecosystem trackers show that 2025 funding exceeded both 2024 and 2023 totals, making it the strongest year since the post-pandemic slowdown. Nearly 500 African startups raised at least $100,000 during the year, while 215 companies secured $1 million or more. [&hellip;]
- [FCCPC Brings 521 Digital Lenders Under Regulation Amid Nigeria’s Digital Credit Crackdown](https://thefintechinsights.com/fccpc-brings-521-digital-lenders-under-regulation-amid-nigerias-digital-credit-crackdown/): A total of 521 digital lending companies are now under the regulatory oversight of the Federal Competition and Consumer Protection Commission (FCCPC), marking a major escalation in Nigeria’s efforts to clean up its fast-growing digital credit market. &nbsp; The development follows the expiration of the January 5, 2026 deadline set by the FCCPC for full compliance with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025. The rules apply to all digital lenders operating through apps, websites and other non-traditional channels, requiring mandatory registration and adherence to stricter consumer protection standards. &nbsp; FCCPC data shows that of the 521 [&hellip;]
- [Firstbank, Zenith Bank, GTCO, Fidelity Bank, 15 Others Meet CBN Recapitalisation (FULL LIST)](https://thefintechinsights.com/firstbank-zenith-bank-gtco-fidelity-bank-15-others-meet-cbn-recapitalisation-full-list/): With fewer than 90 days to the Central Bank of Nigeria’s (CBN) March 31, 2026 recapitalisation deadline, 19 banks have now met the new minimum capital requirements, following the entry of First Bank Nigeria, Fidelity Bank and FSDH Merchant Bank into the league of recapitalised lenders. &nbsp; This marks a significant jump from the 16 banks that had met the requirements as of last year. Those earlier compliant banks included Access Holdings, Zenith Bank, GTCO, Ecobank, Stanbic IBTC, Wema Bank, Jaiz Bank, Lotus Bank, Providus Bank, Greenwich Merchant Bank, PremiumTrust Bank, Globus Bank, Citibank Nigeria, United Bank for Africa, Nova [&hellip;]
- [Banking Stability, Fintech Oversight, Inflation Control Top CBN 2026 Reform Agenda](https://thefintechinsights.com/banking-stability-fintech-oversight-inflation-control-top-cbn-2026-reform-agenda/): The Central Bank of Nigeria (CBN) has outlined a reform agenda for 2026 centred on banking system stability, tighter fintech regulation, inflation control and the modernisation of Nigeria’s payments infrastructure, signalling a continuation of its reform-driven policy stance. &nbsp; In a statement posted on X (formerly Twitter), CBN Governor Olayemi Cardoso said the apex bank’s focus for the year ahead reflects its commitment to restoring confidence in the financial system, strengthening macroeconomic stability and supporting sustainable economic growth. &nbsp; According to Cardoso, strengthening the banking sector remains a core priority, with the CBN set to intensify supervision and reinforce corporate [&hellip;]
- [GTCO, Zenith, UBA, 10 Others’ Market Cap Rise To N16.14tn Amid CBN Recapitalisation Drive](https://thefintechinsights.com/gtco-zenith-uba-10-others-market-cap-rise-to-n16-14tn-amid-cbn-recapitalisation-drive/): The combined market capitalisation of Guaranty Trust Holding Company Plc (GTCO), Zenith Bank Plc, United Bank for Africa Plc (UBA) and 10 other listed banks surged to ₦16.14 trillion in 2025, underscoring renewed investor confidence driven largely by the Central Bank of Nigeria’s (CBN) ongoing banking sector recapitalisation programme ahead of the March 2026 deadline. The valuation represents an increase of about 86.8 per cent, or ₦7.5 trillion, from the ₦8.64 trillion recorded by the 13 banks on the Nigerian Exchange Limited (NGX) in 2024. At ₦16.14 trillion, banking stocks accounted for an estimated 16.23 per cent of the NGX’s [&hellip;]
- [Fidelity Bank Raises Up to ₦270bn in Private Placement, Exceeds CBN ₦500bn Capital Requirement](https://thefintechinsights.com/fidelity-bank-raises-up-to-%e2%82%a6270bn-in-private-placement-exceeds-cbn-%e2%82%a6500bn-capital-requirement/): Fidelity Bank Plc has successfully raised between ₦250 billion and ₦270 billion through a private placement, pushing its qualifying capital well above the ₦500 billion minimum required by the Central Bank of Nigeria (CBN) for banks with international authorisation. &nbsp; Market sources familiar with the transaction said the private placement was executed on December 31, 2025, and was fully subscribed within a single day, driven by strong demand for the bank’s shares. The rapid completion stands out in Nigeria’s capital market, where issuers are typically allowed up to 10 days for private placements and often seek extensions due to market [&hellip;]
- [FirstBank Meets CBN’s ₦500bn Capital Requirement Ahead of March 2026 Deadline](https://thefintechinsights.com/firstbank-meets-cbns-%e2%82%a6500bn-capital-requirement-ahead-of-march-2026-deadline/): First Bank of Nigeria (FirstBank) has met the Central Bank of Nigeria’s (CBN) ₦500 billion minimum capital requirement for banks operating with international licences, marking a major milestone in the ongoing recapitalisation of the Nigerian banking sector. &nbsp; The development was announced on January 1, 2026, by the Chairman of FBN Holdings Plc, Mr Femi Otedola, nearly three months ahead of the CBN’s March 31, 2026 deadline. &nbsp; FirstBank achieved the target through a combination of capital-raising strategies, including rights issues offered to existing shareholders and private placements targeted at high-net-worth individuals and institutional investors. By the final quarter of [&hellip;]
- [50 Tax Exemptions and Reliefs to Benefit Nigerians Under New Tax Reform Laws (FULL LIST)](https://thefintechinsights.com/50-tax-exemptions-and-reliefs-to-benefit-nigerians-under-new-tax-reform-laws-full-list/): Nigeria’s new tax reform laws which took effect since January 1, 2026, introduced wide-ranging exemptions and reliefs aimed at easing the tax burden on low-income earners, middle-income taxpayers, and small businesses. The reforms cover personal income tax, company taxation, value-added tax, capital gains, stamp duties, and other levies, with a strong focus on protecting vulnerable groups and supporting economic growth. &nbsp; 50 Tax Exemptions and Reliefs to Benefit Nigerians Under New Tax Reform Laws (FULL LIST) &nbsp; Personal Income Tax or PAYE Individuals earning the national minimum wage or less (exempt) Annual gross income up to ₦1,200,000 (translating to about [&hellip;]
- [PiggyVest Pays Out Record ₦1.3 Trillion in 2025 as Users Hit Six Million](https://thefintechinsights.com/piggyvest-pays-out-record-%e2%82%a61-3-trillion-in-2025-as-users-hit-six-million/): Nigerian fintech firm PiggyVest disbursed a record ₦1.3 trillion to users in 2025, representing a 56% increase from the ₦835 billion paid out in 2024, capping a landmark year for the digital savings platform. &nbsp; The payout milestone coincided with PiggyVest surpassing six million registered users, reinforcing its position as one of Africa’s leading digital savings platforms as it approaches its 10th anniversary. In an email sent to customers, the company disclosed that its assets under management more than doubled in 2025, recording 110% growth, although it did not release exact figures. &nbsp; The strong performance reflects rising trust in [&hellip;]
- [FIRS Becomes Nigeria Revenue Service Ahead of 2026 Tax Reforms](https://thefintechinsights.com/firs-becomes-nigeria-revenue-service-ahead-of-2026-tax-reforms/): The Federal Inland Revenue Service (FIRS) has officially rebranded as the Nigeria Revenue Service (NRS), unveiling a new name and corporate identity as Nigeria prepares to implement a new tax regime from January 1, 2026. The new identity was unveiled on Wednesday in Abuja by the Executive Chairman of the NRS, Mr Zacch Adedeji. The rebranding follows the enactment of the Nigeria Revenue Service Establishment Act, 2025, which was signed into law by President Bola Tinubu in June 2025. With the passage of the Act, the NRS formally replaces the FIRS as Nigeria’s central revenue authority, expanding its institutional mandate [&hellip;]
- [Follow the Money (2025 Wrapped): New Tax Laws, ATM Comeback, and How Nigerians Moved Money](https://thefintechinsights.com/follow-the-money-2025-wrapped-new-tax-laws-atm-comeback-and-how-nigerians-moved-money/): This article tracks how Nigerians earned, spent, saved, and lost money in 2025, a year defined by sweeping tax reforms, fast-moving fintech innovation, and tighter government oversight. From banks’ spending patterns and shifting tax rules to crypto regulation, ATM revival, and the rise of mobile money giants, the series examined what financial flows reveal about priorities both personal and institutional in a rapidly evolving economy. As 2026 approaches, here are the defining money stories from the year and what they signal next. Taxation Expands to Remote Workers and Freelancers &nbsp; In one of 2025’s most consequential reforms, Nigeria broadened its [&hellip;]
- [Moniepoint, Kuda Face Mounting Pressure Over EMAAR Ponzi Refund Demands](https://thefintechinsights.com/moniepoint-kuda-face-mounting-pressure-over-emaar-ponzi-refund-demands/): Moniepoint Microfinance Bank and Kuda Bank are under mounting pressure from thousands of Nigerians seeking refunds after losing money to the collapsed EMAAR Ponzi scheme, with victims accusing the fintech platforms of failing to act decisively despite repeated petitions and transaction evidence. According to Punch, customer-care lines at both Moniepoint and Kuda have been inundated for weeks by victims demanding answers over funds transferred through accounts on the two platforms to EMAAR operators before the scheme collapsed in October 2025. The agitation follows revelations that more than 4,000 Nigerians may have lost between ₦1bn and ₦3bn to EMAAR, a fraudulent [&hellip;]
- [Tax Reform, Old Fears and New Hope: Nigeria Steps Into 2026 With Cautious Optimism](https://thefintechinsights.com/tax-reform-old-fears-and-new-hope-nigeria-steps-into-2026-with-cautious-optimism/): As the year draws to a close, Nigeria is slipping into a familiar end-of-year mood: equal parts reflection and unease about what the next chapter may bring. From motor parks and markets to offices and social media timelines, one subject dominates conversation; the new tax regime scheduled to take effect in January 2026. For many Nigerians, the reforms have become a symbol of two competing emotions. There is fear, shaped by a long history in which taxation has often meant coercion, harassment and hardship. And there is hope, born of exhaustion after a bruising economic year and a quiet longing [&hellip;]
- [FG Confirms Enforcement of New Tax Laws Amid Controversy](https://thefintechinsights.com/fg-confirms-enforcement-of-new-tax-laws-amid-controversy/): The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has reaffirmed that Nigeria’s new tax reforms will officially take effect on January 1, 2026, stressing that the measures are designed to ease the burden on citizens and stimulate economic growth. &nbsp; Oyedele gave the assurance while speaking to journalists after a visit by the National Tax Policy Implementation Committee (NTPIC), led by its chairman, Joseph Tegbe, to President Bola Tinubu at his Lagos residence. &nbsp; According to Oyedele, the rollout of the remaining tax reform laws will proceed as scheduled, with significant relief targeted at workers [&hellip;]
- ["5 Smart Moves to Wrap Up Your Year in Financial Style"- FairMoney](https://thefintechinsights.com/5-smart-moves-to-wrap-up-your-year-in-financial-style-fairmoney/): &#8220;Detty December,&#8221; Nigeria&#8217;s unofficial end-of-year spectacle, is an annual economic boom of concerts and parties, amplified by the return of the &#8220;IJGB&#8220; (I Just Got Back) crowd. This celebration drives massive discretionary spending and consumer euphoria. &nbsp; However, this festive high often leads to a financial low; the &#8220;Long January.&#8221; This is when critical non-negotiable expenses like rent and school fees hit hard. &nbsp; Do not treat December as a financial free-for-all. Savvy individuals and business leaders must reframe it as the final, crucial financial quarter. The goal is to shift from emotional spending to deliberate, strategic saving. &nbsp; ALSO: How [&hellip;]
- [Unity Bank Losses, Delayed Accounts and Heavy Liabilities Threaten Providus Bank Deal](https://thefintechinsights.com/unity-bank-losses-delayed-accounts-and-heavy-liabilities-threaten-providus-bank-deal/): Unity Bank Plc’s deepening financial distress is now threatening to taint its much-publicised acquisition, stoking anxiety among shareholders and market watchers despite regulatory approval from the Central Bank of Nigeria (CBN). Far from settling nerves, the CBN’s green light has instead refocused attention on the scale of the lender’s unresolved weaknesses and the risks they pose to the deal’s execution. &nbsp; Behind the approval lies a bank still weighed down by severe balance-sheet impairments, legacy liabilities, and long-standing governance concerns; issues investors fear could dilute shareholder value and complicate integration as the transaction unfolds. &nbsp; Unity Bank’s financial collapse was [&hellip;]
- [UBA Faces Explosive Lawsuit Over Alleged Ghost Account, ₦5bn Transactions, EFCC Ordeal](https://thefintechinsights.com/uba-faces-explosive-lawsuit-over-alleged-ghost-account-%e2%82%a65bn-transactions-efcc-ordeal/): United Bank for Africa Plc (UBA), led by billionaire banker Tony Elumelu, is facing explosive allegations before the Federal High Court in Lagos over claims that it secretly opened and operated a “ghost” corporate account in a customer’s name, channelled more than ₦5 billion through it, secured a ₦2 billion loan, and exposed the company’s managing director to prolonged interrogation by the Economic and Financial Crimes Commission (EFCC). &nbsp; The allegations are contained in Suit No: FHC/L/CS/775/2025, filed by EFFDEE Nigeria Limited and its Managing Director, Mr. Fouad Anthony Aquad, who accuse the bank of gross misconduct bordering on identity [&hellip;]
- [FG Automatically Assigns Tax Identification Numbers to All Nigerians](https://thefintechinsights.com/fg-automatically-assigns-tax-identification-numbers-to-all-nigerians/): The Federal Government has announced that every Nigerian with a National Identification Number (NIN) now automatically has a Tax Identification Number (Tax ID), eliminating the need for a separate tax registration process for individuals. &nbsp; The Federal Inland Revenue Service (FIRS) disclosed this in a public awareness campaign on the new tax laws posted on X on Monday. According to the agency, the NIN issued by the National Identity Management Commission (NIMC) has been formally adopted as the Tax ID for individual Nigerians under the new tax framework. &nbsp; For registered businesses, the FIRS said the Corporate Affairs Commission (CAC) [&hellip;]
- [NASS Can Suspend January 2026 Tax Reforms, Says Taiwo Oyedele](https://thefintechinsights.com/nass-can-suspend-january-2026-tax-reforms-says-taiwo-oyedele/): Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said the National Assembly has the constitutional authority to suspend the planned January 2026 implementation of Nigeria’s tax reform laws, if lawmakers deem it necessary. &nbsp; Oyedele made the clarification on Monday during an interview on Channels Television, responding to allegations that some provisions of the tax reform laws were altered after passage and before they were gazetted. &nbsp; According to him, calls for suspending the reforms had already been gaining traction even before the controversy over alleged alterations emerged. However, he argued that opposition to the [&hellip;]
- [CBN Takes Nigeria’s Reform Story Global to Win Back Long-Term Capital](https://thefintechinsights.com/cbn-takes-nigerias-reform-story-global-to-win-back-long-term-capital/): The hunt for global capital is no longer happening quietly behind closed doors. For Nigeria’s central bank, it has become an open, deliberate campaign built on discipline, transparency and the promise that policy uncertainty is no longer the country’s defining feature. &nbsp; That was the message the Central Bank of Nigeria (CBN) carried to Washington, DC, as it stepped up efforts to reposition Africa’s largest economy as a credible, rules-based destination for long-term investment. Under Governor Olayemi Cardoso, the bank is no longer merely defending reforms at home; it is exporting Nigeria’s economic reset directly to global capital markets. &nbsp; [&hellip;]
- [Inside Nigeria’s Banking Recapitalisation Drive: Winners, Late Movers and M&A Signals](https://thefintechinsights.com/inside-nigerias-banking-recapitalisation-drive-winners-late-movers-and-ma-signals/): With roughly 100 days left to the March 31, 2026, recapitalisation deadline, Nigeria’s banking sector is increasingly defined not by panic, but by calculated repositioning. What began as a high-stakes regulatory push has evolved into a measured race for capital, strategic realignments and selective consolidation far removed from the doomsday narratives circulating online. &nbsp; This calmer outlook was reinforced by the Association of Corporate Communication and Marketing Professionals in Banks (ACAMB), which has dismissed rumours suggesting that as many as 12 banks face imminent closure. According to the group, such claims are unfounded and risk undermining public confidence in a [&hellip;]
- [CBN Mandates Multi-Factor Authentication for Foreign Card Transactions Above $200](https://thefintechinsights.com/cbn-mandates-multi-factor-authentication-for-foreign-card-transactions-above-200/): The Central Bank of Nigeria (CBN) has directed all banks and other financial institutions to implement multi-factor authentication for foreign card transactions exceeding $200 per day, introducing new rules aimed at improving security and ensuring the seamless use of foreign-issued payment cards in Nigeria. &nbsp; The directive was issued in a circular dated December 18, 2025, by the CBN’s Financial Policy and Regulation Department and signed by its Director, Dr Rita I. Sike. Titled “Facilitation of Seamless Use of Foreign Cards,” the circular was addressed to all banks and non-bank financial institutions operating in the country. &nbsp; According to the [&hellip;]
- [SnappyPay Launches in Nigeria to Tackle Delayed, Failed Digital Bill Payments](https://thefintechinsights.com/snappypay-launches-in-nigeria-to-tackle-delayed-failed-digital-bill-payments/): SnappyPay has officially launched in Nigeria as it targets persistent delays and failed transactions that continue to affect everyday digital payments across the country. &nbsp; Now live as SnappyPay in Nigeria, the platform is positioned to serve users seeking a more reliable way to pay for electricity tokens, airtime, data and cable TV subscriptions. &nbsp; The platform was unveiled in Lagos on November 23, 2025, during the fifth anniversary celebration of SnappyExchange, a company well known in Nigeria’s gift card and crypto market. According to the company, the launch of SnappyPay marks SnappyExchange’s expansion into the broader digital payments space, [&hellip;]
- [World Bank Approves $500m Financing to Expand Credit Access for MSMEs in Nigeria](https://thefintechinsights.com/world-bank-approves-500m-financing-to-expand-credit-access-for-msmes-in-nigeria/): The World Bank has approved $500 million in financing to expand access to credit for micro, small and medium enterprises (MSMEs) in Nigeria, targeting persistent funding gaps that continue to limit business growth and job creation across the country. &nbsp; In a press statement issued on Saturday, the multilateral lender said the approval is for the Fostering Inclusive Finance for MSMEs in Nigeria (FINCLUDE) project, structured as a blended facility comprising $400 million from the International Bank for Reconstruction and Development and $100 million from the International Development Association. The project will be implemented by the Development Bank of Nigeria, [&hellip;]
- [US Commits $2 Billion Grants to Boost Nigeria Health Sector From 2026–2030](https://thefintechinsights.com/us-commits-2-billion-grants-to-boost-nigeria-health-sector-from-2026-2030/): The United States has pledged nearly $2 billion in grant funding to support Nigeria’s health sector over a five-year period from 2026 to 2030, as part of a broader Memorandum of Understanding (MoU) between both countries. The development was disclosed in a statement issued by the Federal Ministry of Information and National Orientation on Friday, December 19, 2025. &nbsp; The MoU outlines a joint commitment to strengthen Nigeria’s health system, with the US expected to provide close to $2 billion in grants between April 2026 and December 2030 to support Nigeria’s health priorities. In parallel, Nigeria has committed to mobilising [&hellip;]
- [Nigeria Surges Past Kenya as Instant Payments Redefine Digital Finance In Africa](https://thefintechinsights.com/nigeria-surges-past-kenya-as-instant-payments-redefine-digital-finance-in-africa/): Nigeria, once regarded as a fast follower in Africa’s digital finance race, is rapidly reshaping the continent’s payments landscape as instant payment systems record unprecedented growth, challenging Kenya’s long-held dominance in mobile money. For more than a decade, Kenya; powered by the trailblazing M-Pesa platform has been Africa’s reference point for real-time and mobile money transactions, with instant payments accounting for more than 200 per cent of its Gross National Income (GNI). But new data and expert assessments indicate that Nigeria is now narrowing the gap at remarkable speed, driven by regulatory reforms, fintech innovation and mass consumer adoption. According [&hellip;]
- [How Moniepoint, Kuda, PalmPay, Others Transformed Nigeria Fintech Landscape in 2025](https://thefintechinsights.com/how-moniepoint-kuda-palmpay-others-transformed-nigeria-fintech-landscape-in-2025/): As 2025 draws to a close, Nigerian Fintechs have once again demonstrated resilience, innovation and scale, reinforcing the country’s position as Africa’s leading financial technology hub. In a year marked by rapid digital adoption, expanding credit access and deeper financial inclusion, Fintech Insights conducted a comprehensive review of the Nigerian fintech ecosystem to spotlight startups that delivered the most significant impact. Using a combination of transaction volume, product expansion, funding activity and overall influence on Nigerians, Fintech Insights identified the top five fintech companies that defined 2025. Insights were also gathered from founders and key stakeholders on what these milestones [&hellip;]
- [Top 5 Nigeria Tech Stories 2025](https://thefintechinsights.com/top-5-nigeria-tech-stories-2025/): Across 2025, technology stories dominated Nigeria’s business and policy conversations; from telecom pricing and fintech funding to startup acquisitions and regulatory reforms. These developments went beyond headlines, influencing consumer behaviour, investment decisions, and government policy across the continent’s largest tech markets. Drawing from industry conversations, founder insights, and community sentiment within Nigeria’s tech ecosystem, this article highlights five defining tech stories that shaped 2025. While not exhaustive, they reflect the issues that most directly affected how Nigerians work, transact, build, and live in an increasingly digital economy. 1. Nigeria’s 50% Telecoms Tariff Hike Reshaped Digital Access One of the most [&hellip;]
- [African Startup Funding Surges 30% in November on Mega IPOs and Late-Stage Deals](https://thefintechinsights.com/african-startup-funding-surges-30-in-november-on-mega-ipos-and-late-stage-deals/): Africa Startup Funding ecosystem posted one of its strongest rebounds of 2025 in November, driven by a surge in large, late-stage deals that sharply lifted overall capital flows despite a decline in deal volume. Data shows that the top 10 funded startups raised a combined $573 million, accounting for 97.14% of the $589.9 million raised by 38 startups during the month. By contrast, the remaining 28 startups attracted just $16.9 million, underscoring the continued concentration of capital among a small group of mature, scale-ready companies. ALSO: TikTok Secures Oracle-Backed Agreement to Meet U.S. National Security Rules The November performance marked [&hellip;]
- [TikTok Secures Oracle-Backed Agreement to Meet U.S. National Security Rules](https://thefintechinsights.com/tiktok-secures-oracle-backed-agreement-to-meet-u-s-national-security-rules/): TikTok has reached a landmark agreement with Oracle and a consortium of U.S.-based investors to restructure its American operations, sharply reducing the risk of a nationwide ban and bringing the platform closer to meeting U.S. regulatory demands ahead of a looming January deadline. &nbsp; The transaction, expected to close on January 22, follows nearly a year of political and regulatory uncertainty after U.S. lawmakers ordered TikTok to sell or shut down its U.S. business over national security concerns. &nbsp; According to Axios, which cited an internal memo from TikTok chief executive Shou Zi Chew, the deal will establish a new [&hellip;]
- [CBN Inflation Expectations Survey Signals Growing Confidence in Price Stability](https://thefintechinsights.com/cbn-inflation-expectations-survey-signals-growing-confidence-in-price-stability/): Businesses and households in Nigeria expect inflationary pressures to remain broadly stable in the months ahead, according to the Central Bank of Nigeria’s (CBN) Inflation Expectations Survey for November 2025. The report shows a moderation in inflation sentiment, with the Inflation Perception Index settling at 43.5 points. The share of respondents reporting high inflation perceptions declined to 52.3% in November, down from 56.5% in October, suggesting easing price pressures across parts of the economy. Inflation perceptions varied across business sizes. Micro enterprises reported the highest inflation pressure at 54.6%, followed by large firms at 53.7%, medium-sized firms at 49.3%, and [&hellip;]
- [Lagos Tech Fest 2026 to Host 3,000+ Global Participants as Africa’s Tech Leaders Converge in Lagos](https://thefintechinsights.com/lagos-tech-fest-2026-to-host-3000-global-participants-as-africas-tech-leaders-converge-in-lagos/): Eventhive, a leading B2B2C event services company, has announced plans for the sixth edition of its flagship gathering, Lagos Tech Fest, which is expected to attract more than 3,000 participants from around the world. The annual conference, a core part of the Africa Tech Series, Eventhive’s pan-African platform for technology and innovation dialogue brings together fintech and technology stakeholders across major hubs including Lagos, London, Nairobi, Kigali and Johannesburg. Scheduled for February 17 and 18, 2026, the Lagos Tech Fest will convene technology executives, startup founders, innovators, investors, global technology firms and policymakers to examine the future of Nigeria’s technology [&hellip;]
- [Africa Didn’t Wait for PayPal: Inside the Rise of Homegrown Fintech Giants](https://thefintechinsights.com/africa-didnt-wait-for-paypal-inside-the-rise-of-homegrown-fintech-giants/): For years, Africa was framed as a continent on the margins of global finance underbanked, high-risk, and largely excluded from the digital payment rails that powered global commerce. Nowhere was this exclusion more visible than in PayPal’s long absence. While freelancers in Asia or Europe could receive payments from anywhere in the world with a few clicks, millions of Africans were stuck on the wrong side of a digital wall. But Africa did not pause. It adapted. And in the process, it built something far more transformative than what global payment giants ever offered. Locked out, but not powerless When [&hellip;]
- [CBN Governor Courts U.S. Investors, Reaffirms Nigeria’s Push for Macroeconomic Stability](https://thefintechinsights.com/cbn-governor-courts-u-s-investors-reaffirms-nigerias-push-for-macroeconomic-stability/): The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has assured senior U.S. business leaders and institutional investors of Nigeria’s renewed commitment to macroeconomic stability, policy consistency, and transparent market reforms. &nbsp; Cardoso gave the assurance during engagements at the US–Nigeria Executive Business Roundtable, where he highlighted the country’s shift toward rules-based economic management and predictable policy frameworks, with particular emphasis on recent reforms in the foreign exchange market. &nbsp; In a statement issued by the CBN’s Corporate Communications Department, the governor said Nigeria has firmly adopted orthodox monetary policy, alongside sweeping reforms in the banking sector and [&hellip;]
- [Jaiz Bank Appoints Ex-CBN Director as Chief Compliance Officer Amid CBN Recapitalisation Deadline](https://thefintechinsights.com/jaiz-bank-appoints-ex-cbn-director-as-chief-compliance-officer-amid-cbn-recapitalisation-deadline/): Jaiz Bank Plc has appointed former Central Bank of Nigeria (CBN) director, Tukur Galadima, as its new Chief Compliance Officer, strengthening its governance and regulatory framework as Nigeria’s banking industry faces tighter oversight and a looming recapitalisation deadline. &nbsp; The appointment, which took effect on December 1, places Galadima in charge of compliance and regulatory strategy at the non-interest lender during a critical period for the sector. Nigerian banks are under pressure to meet the CBN’s March 2026 recapitalisation deadline, with only 16 of the 34 licensed commercial banks having met the revised capital thresholds so far, according to the [&hellip;]
- [Paystack Restores Zap, Reintegrates Consumer App After CBN Compliance Dispute](https://thefintechinsights.com/paystack-restores-zap-reintegrates-consumer-app-after-cbn-compliance-dispute/): Paystack, the African payments processor owned by Stripe, has restored access to its consumer app, Zap, bringing the service back into operation less than a year after regulatory action by the Central Bank of Nigeria (CBN) forced it offline. &nbsp; The relaunch follows months of regulatory engagement after the Lagos-based fintech was fined ₦250 million in early 2025 for allegedly operating Zap outside the scope of its approved licences. &nbsp; At the time, regulators raised concerns that the peer-to-peer transfer app had deposit-taking features typically reserved for fully licensed banks. &nbsp; Under the revised structure, Zap has been repositioned as [&hellip;]
- [CBN Tightens Rules Amid Digital Payments Boom, Signals Zero Tolerance for System Abuse](https://thefintechinsights.com/cbn-tightens-rules-amid-digital-payments-boom-signals-zero-tolerance-for-system-abuse/): As digital transactions surge across Nigeria, the Central Bank of Nigeria (CBN) is tightening regulatory oversight to protect consumers, strengthen payment infrastructure and ensure innovation evolves within a secure and disciplined framework. Under the leadership of Governor Olayemi Cardoso, the apex bank has extended its Payment System Vision (PSV) roadmap to 2028, reinforcing its commitment to modernising Nigeria’s payments architecture while deepening cybersecurity safeguards. The renewed strategy prioritises the expansion of contactless payments, stricter agent-banking guidelines and improved interoperability among switching companies measures designed to support seamless, safe and inclusive digital finance. Nigeria’s e-payment ecosystem has recorded notable progress. Over [&hellip;]
- [The Chinese dragon has entered our digital wallet](https://thefintechinsights.com/the-chinese-dragon-has-entered-our-digital-wallet/): It started with a whisper in the hallowed chambers of the National Assembly, where Hon. Olufemi Bamisile expressed visible shock at the ownership structures of the fintech giants currently dominating our economy. &nbsp; Then, it exploded onto our phone screens via a viral TikTok video by @iswellthecapitalist, stating the obvious but uncomfortable truth: The biggest bank in Nigeria today in terms of ubiquity and reliability is not the FUGAZ banks – It is OPay. &nbsp; But here is the jagged pill we must swallow: The entity that has effectively become the custodian of the Nigerian street economy is not Nigerian. [&hellip;]
- [CAC Faces Extortion Allegations Over Fintech-Led Business Registration Scheme](https://thefintechinsights.com/cac-faces-extortion-allegations-over-fintech-led-business-registration-scheme/): The Corporate Affairs Commission (CAC) has been engulfed in fresh allegations of large-scale extortion and abuse of office following claims that it compelled fintech companies to collect inflated business registration fees from hundreds of thousands of small business owners nationwide. &nbsp; According to an investigation by Sahara Reporters, the allegations centre on claims that the CAC, under the leadership of its Registrar-General, Hussaini Ishaq Magaji, SAN, directed major fintech platforms including Moniepoint, OPay and PalmPay to enforce compulsory business name registration on PoS operators and small merchants at rates far above the government-approved fee. &nbsp; ALSO: CBN Revokes Licences of [&hellip;]
- [CBN Revokes Licences of Aso Savings, Union Homes Over Regulatory Breaches](https://thefintechinsights.com/cbn-revokes-licences-of-aso-savings-union-homes-over-regulatory-breaches/): The Central Bank of Nigeria (CBN) has withdrawn the operating licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, citing persistent violations of banking regulations and prudential standards. &nbsp; In a statement issued by the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, the apex bank said the decision was taken in line with Section 12 of the Banks and Other Financial Institutions Act (BOFIA) 2020 and Section 7.3 of the Revised Guidelines for Mortgage Banks in Nigeria. &nbsp; The CBN explained that the action forms part of broader efforts to reposition the mortgage [&hellip;]
- [FairMoney Expands Access to Finance for Nigeria’s Urban Entrepreneurs](https://thefintechinsights.com/fairmoney-expands-access-to-finance-for-nigerias-urban-entrepreneurs/): FairMoney Microfinance Bank is strengthening financial inclusion for Nigeria’s growing population of self-employed workers and small business owners, as rapid urbanisation drives millions of young people into cities in search of opportunity. &nbsp; With more than half of Nigeria’s population of about 128 million people now living in urban areas, the demand for accessible, flexible financial services is rising sharply. Many of these urban dwellers operate informal or early-stage businesses and often struggle to meet the requirements of traditional banking. &nbsp; Digital financial platforms are increasingly filling this gap. FairMoney, a neo bank and microfinance institution, says its services are [&hellip;]
- [Fintechs, Startups Dominate Nigeria’s .ng Domain Awards as Digital Identity Gains Momentum](https://thefintechinsights.com/fintechs-startups-dominate-nigerias-ng-domain-awards-as-digital-identity-gains-momentum/): Nigeria’s fintech firms and startups have emerged as standout winners at the Nigeria Internet Registration Association’s (NiRA) .ng Domain Awards, underscoring a growing shift toward local digital identity, trust, and long-term online ownership among young, tech-driven companies. At NiRA’s 20th Anniversary and 8th .ng Awards held in December 2025, innovation-led firms took centre stage. Hervest was named Startup Company of the Year, Nibox Financial Payment Solutions won .ng Fintech Company of the Year, while Afrigo Pay Financial clinched the top honour as .ng Company of the Year 2025. Their success reflects a broader evolution in Nigeria’s tech ecosystem, where startups [&hellip;]
- [CBN Restores S4 Platform for Treasury Bills Auctions Ahead of N365bn Offer](https://thefintechinsights.com/cbn-restores-s4-platform-for-treasury-bills-auctions-ahead-of-n365bn-offer/): The Central Bank of Nigeria (CBN) has reverted to the use of its Scripless Securities Settlement System (S4) for the electronic submission of Treasury Bills auction bids, following a brief suspension after its initial test run in November. &nbsp; Fintech Insights understands that the system was paused after experiencing a technical glitch, which has now been fully resolved. &nbsp; The move comes ahead of a ₦365 billion Treasury Bills auction scheduled for December 17–18, 2025, underscoring the apex bank’s determination to tighten controls, improve transparency, and enhance price discovery in Nigeria’s primary fixed income market. &nbsp; According to the auction [&hellip;]
- [How to Apply for a Moniepoint Loan, Requirements, Eligibility and Step-by-Step Guide](https://thefintechinsights.com/how-to-apply-for-a-moniepoint-loan-requirements-eligibility-and-step-by-step-guide/): Moniepoint has grown into one of Nigeria’s most trusted fintech platforms, serving millions of individuals and businesses nationwide. While it is best known for its reliable Point of Sale (POS) terminals and agency banking services, interest is steadily rising around one key question: How do you apply for a Moniepoint loan? This guide provides a clear, professional, and accurate explanation of Moniepoint’s loan offerings, who qualifies, and how to apply. Whether you are a POS agent, SME owner, or an existing Moniepoint business customer, understanding how the platform’s credit system works will help you avoid misinformation and make informed financial [&hellip;]
- [CBN Unveils New Regulatory Framework to Tighten Oversight of Nigeria’s Fintech Sector](https://thefintechinsights.com/cbn-unveils-new-regulatory-framework-to-tighten-oversight-of-nigerias-fintech-sector/): The Central Bank of Nigeria (CBN) has rolled out a fresh set of policy reforms aimed at strengthening regulatory oversight of the country’s fast-growing fintech sector, marking a major shift as digital financial services deepen their footprint across the economy. &nbsp; The new measures are designed to enhance supervision, raise operational standards, and curb systemic risks linked to the rapid expansion of fintech platforms. By refining regulatory expectations, the apex bank is seeking to balance innovation with financial stability while keeping consumer protection at the core of sector development. &nbsp; Under the revised policy direction, the CBN is placing greater [&hellip;]
- [Nigerian Banks Reinforce Capital Buffers as CBN Tightens Regulatory Oversight](https://thefintechinsights.com/nigerian-banks-reinforce-capital-buffers-as-cbn-tightens-regulatory-oversight/): Nigeria’s Deposit Money Banks are ramping up efforts to strengthen their capital base as the Central Bank of Nigeria (CBN) intensifies regulatory oversight aimed at deepening governance, transparency, and risk management across the financial system. &nbsp; While the banking sector remains stable and resilient, one of the strongest pillars of Nigeria’s financial architecture CBN Governor Olayemi Cardoso has said the apex bank is maintaining heightened vigilance against emerging risks, including cyber threats, credit concentration, and operational weaknesses. These risks, he noted, are being addressed through stronger risk-based supervision and Nigeria’s transition to Basel III standards, which are expected to improve [&hellip;]
- [Dangote Calls for Probe of NMDPRA Boss, Farouk Ahmed Over Alleged $5m Swiss School Fees](https://thefintechinsights.com/dangote-calls-for-probe-of-nmdpra-boss-farouk-ahmed-over-alleged-5m-swiss-school-fees/): Africa’s richest man, Aliko Dangote has reignited his feud with the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, accusing him of living far beyond his legitimate means and demanding a full investigation into his finances. &nbsp; Speaking to journalists on Sunday, Dangote alleged that Ahmed paid as much as $5 million per child in school fees to educate his children in Switzerland, a figure he said is grossly inconsistent with the regulator’s official earnings. &nbsp; ALSO: Supreme Court Rules in Favour of Fidelity Bank, Brings Closure to Two-Decade Sagecom Legal Dispute &nbsp; According [&hellip;]
- [Supreme Court Rules in Favour of Fidelity Bank, Brings Closure to Two-Decade Sagecom Legal Dispute](https://thefintechinsights.com/supreme-court-rules-in-favour-of-fidelity-bank-brings-closure-to-two-decade-sagecom-legal-dispute/): The Supreme Court has ruled in favour of Fidelity Bank in its long-running legal battle with Sagecom Concepts Limited, effectively bringing an end to a case that has lingered in Nigeria’s financial sector for more than 20 years. &nbsp; In a judgment delivered on Friday, a five-man panel of the apex court, led by Justice Lawal Garba, upheld Fidelity Bank’s appeal, marking a major legal victory for the lender. &nbsp; The decision followed a motion filed by Fidelity Bank on October 8, 2025, in which the bank sought clarification on key aspects of the judgment debt arising from earlier court [&hellip;]
- [FG Speaks On Blocking All Bank Accounts Without TIN From 1st January 2026](https://thefintechinsights.com/fg-speaks-on-blocking-all-bank-accounts-without-tin-from-1st-january-2026/): The Federal Government has dismissed claims that Nigerians’ bank accounts will be blocked or restricted from January 1, 2026, over the non-availability of Tax Identification Numbers (TIN). &nbsp; In a press release issued on December 12, 2025 obtained by Fintech Insights, the Joint Revenue Board (JRB) clarified that there will be no restrictions on bank accounts or financial transactions based on whether an individual or business has a Tax ID. &nbsp; The JRB stressed that no deductions will be made from any bank account on the basis of having or not having a TIN, urging Nigerians to remain calm amid [&hellip;]
- [FirstBank, UBA, Fidelity, Union Bank, Others Struggle to Meet CBN New Recapitalization Deadline](https://thefintechinsights.com/firstbank-uba-fidelity-union-bank-others-struggle-to-meet-cbn-new-recapitalization-deadline/): As the Central Bank of Nigeria’s (CBN) new recapitalization deadline draws closer, pressure is mounting on several Nigerian banks, including FirstBank, United Bank for Africa (UBA), Fidelity Bank and Union Bank, to shore up their capital positions amid tightening regulatory scrutiny and challenging market conditions. &nbsp; Recall that in March 2024, the CBN unveiled a sweeping recapitalization programme aimed at strengthening the financial system, improving banks’ capacity to absorb shocks and positioning the sector to better support economic growth. Under the new framework, international commercial banks are required to raise their paid-up capital to ₦500 billion, national banks to ₦200 [&hellip;]
- [FX Volatility, Higher Taxes Drive Airfare Surge as Insecurity Reshapes Nigeria’s Holiday Travel](https://thefintechinsights.com/fx-volatility-higher-taxes-drive-airfare-surge-as-insecurity-reshapes-nigerias-holiday-travel/): As Christmas and New Year celebrations approach, Nigerians are facing one of the most difficult travel seasons in recent memory, with soaring airfares, foreign exchange uncertainty and worsening insecurity on major highways reshaping how people move across the country. &nbsp; Domestic flight prices have risen sharply by more than 100 percent on some routes as travellers abandon increasingly dangerous roads for the relative safety of air travel. The result is a festive season marked by tough choices: pay exorbitant fares, risk unsafe highways, or forgo family reunions altogether. &nbsp; For many Nigerians, the fear of kidnappings and violent attacks now [&hellip;]
- [FG New Tax Regime Outlaws Lagos, Ogun, Others Touting, Cash Payments, Multiple Taxation Systems](https://thefintechinsights.com/fg-new-tax-regime-outlaws-lagos-ogun-others-touting-cash-payments-multiple-taxation-systems/): On a bustling afternoon at Agbara Market in Ogun State, business had barely picked up when a familiar scene unfolded. A group of men moved from shop to shop; not as customers, but as tax collectors. Traders pleaded, explaining that profits had been poor and sales sluggish. Their appeals fell on deaf ears. &nbsp; Each shop was told to pay ₦10,200 as annual tax or risk immediate closure. After tense negotiations, most traders handed over ₦7,200 in cash and received handwritten receipts. &nbsp; “This is how it happens every year,” a small business owner said bitterly. “They come without notice [&hellip;]
- [NIPOST Receives 350 NIN Enrollment Devices to Expand Digital Identity Access In Nigeria](https://thefintechinsights.com/nipost-receives-350-nin-enrollment-devices-to-expand-digital-identity-access-in-nigeria/): The Nigerian Postal Service (NIPOST) has taken a significant step toward expanding digital inclusion with the acquisition of 350 National Identity Number (NIN) enrolment devices. &nbsp; The devices were formally handed over at NIPOST’s headquarters in Abuja by a delegation from the Korea International Cooperation Agency (KOICA), led by its Country Director, Eunsub Kim. The equipment was received by NIPOST’s Postmaster General and Chief Executive Officer, Tola Odeyemi. &nbsp; Odeyemi commended KOICA and the government of South Korea for their support, describing the intervention as a major boost to Nigeria’s digital inclusion agenda. She said the additional devices will enhance [&hellip;]
- [Standard Chartered Bank to Close Accounts Below ₦7.5 Million, Restructures Branch Network](https://thefintechinsights.com/standard-chartered-bank-to-close-accounts-below-%e2%82%a67-5-million-restructures-branch-network/): Standard Chartered Bank Nigeria has announced that it will close customer accounts with balances below ₦7.5 million by January 15, 2026, as part of its strategy to optimize services for the Emerging Affluent segment. &nbsp; The bank communicated the decision in an email sent to account holders, which was obtained by Fintech Insights. Customers were informed that to continue enjoying Standard Chartered’s services, they must raise their Assets Under Management (AUM) to meet the new minimum balance requirement of ₦7.5 million (or equivalent) by February 28, 2026. Accounts failing to meet this threshold will be closed. &nbsp; The email also [&hellip;]
- [FG Strengthens Tax Systems with FIRS-France MoU for Digital Transformation, Compliance](https://thefintechinsights.com/fg-strengthens-tax-systems-with-firs-france-mou-for-digital-transformation-compliance/): Nigeria’s drive to modernize its tax administration has received a significant boost as the Federal Inland Revenue Service (FIRS) formalized a cooperation agreement with France, aimed at enhancing revenue systems, boosting digital capacity, and improving cross-border tax compliance. &nbsp; The memorandum of understanding (MoU) was signed at the French Embassy in Abuja by FIRS Executive Chairman, Dr. Zacch Adedeji, and the French Ambassador, Marc Fonbaustier. The agreement establishes a framework for institutional collaboration between FIRS and France’s Direction Générale des Finances Publiques (DGFiP). &nbsp; Arabinrin Aderonke, Technical Assistant on Broadcast Media to the FIRS Executive Chairman, said the partnership signals [&hellip;]
- [FG Launch ₦10 Billion GLOW Loan Scheme to Empower Women Entrepreneurs in Nigeria](https://thefintechinsights.com/fg-launch-%e2%82%a610-billion-glow-loan-scheme-to-empower-women-entrepreneurs-in-nigeria/): Nigeria’s drive for inclusive economic growth received a boost on Wednesday as the Bank of Industry (BOI) and the National Credit Guarantee Company (NCGC) launched a ₦10 billion loan guarantee scheme targeted at women-owned businesses. &nbsp; The initiative was formalised in Abuja with the signing of a Memorandum of Understanding (MoU) between BOI Managing Director, Dr Olasupo Olusi, and NCGC Managing Director, Mr Bonaventure Okhaimo, marking one of the most significant gender-focused financing interventions in recent years. &nbsp; Under the scheme, known as GLOW, Guaranteed Loans for Women; NCGC will provide a 25 per cent guarantee on loans disbursed by [&hellip;]
- [Glo Dragged to Court in ₦20bn Suit Over Alleged Breach of 2.6GHz Spectrum Contract](https://thefintechinsights.com/glo-dragged-to-court-in-%e2%82%a620bn-suit-over-alleged-breach-of-2-6ghz-spectrum-contract/): Telecommunications operator Glo Mobile Limited, the Nigerian Communications Commission (NCC), and indigenous firm Megatech Engineering Limited have been sued at the Federal High Court in Abuja over an alleged breach of contract involving the sale of a 2.6GHz spectrum licence. &nbsp; The suit was filed by Mosakab Nigeria Limited and its promoter, Mashood Mustapha, who are seeking over ₦20 billion in damages, alleging unlawful conduct, fraud, and contractual violations linked to the transaction. &nbsp; In the case marked FHC/ABJ/CS/1534/2024, the plaintiffs are asking the court to nullify or set aside the sale of the 2.6GHz spectrum licence by Megatech to [&hellip;]
- [FG Targets $2bn Investment From Gas Flare Commercialisation Program](https://thefintechinsights.com/fg-targets-2bn-investment-from-gas-flare-commercialisation-program/): The Federal Government has projected up to $2 billion in new investments from Nigeria’s Gas Flare Commercialisation Programme (NGFCP), as regulators move closer to turning wasted flare gas into a major economic and environmental opportunity. &nbsp; This follows the issuance of permits to access flare gas sites to 28 successful bidders by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Friday, marking a critical milestone in the programme’s execution. &nbsp; Speaking at the event in Abuja, Gbenga Komolafe, Chief Executive of the NUPRC, said allocating flare sites to qualified third-party developers has activated a commercially viable framework that converts gas [&hellip;]
- [FG To Cut Corporate Income Tax to 25%, Sacrificing ₦1.4 Trillion in 2026 to Boost Economic Growth](https://thefintechinsights.com/fg-to-cut-corporate-income-tax-to-25-sacrificing-%e2%82%a61-4-trillion-in-2026-to-boost-economic-growth/): The Federal Government is set to forgo an estimated ₦1.4 trillion in revenue in 2026 following its decision to reduce the corporate income tax (CIT) rate from 30 percent to 25 percent, a key plank of Nigeria’s newly consolidated tax reform framework. &nbsp; Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, disclosed this on Friday during a media workshop on the new tax laws, noting that the move is a deliberate policy choice aimed at stimulating economic growth rather than raising new taxes. &nbsp; ALSO: FG Makes TIN Mandatory for All Nigerians to Operate Bank Accounts [&hellip;]
- [NITDA–JICA iHatch Demo Day Fuels Nigeria’s Startup Ecosystem with New Funding Winners](https://thefintechinsights.com/nitda-jica-ihatch-demo-day-fuels-nigerias-startup-ecosystem-with-new-funding-winners/): Nigeria’s startup ecosystem gained fresh momentum at the iHatch National Demo Day, where promising early-stage ventures attracted funding and national attention, with Interface Africa emerging as the overall winner and securing a $15,000 top prize. &nbsp; The event marked the finale of the 4th cohort of the NITDA–JICA-backed iHatch accelerator programme, held in Abuja. It brought together startup founders, policymakers, investors, and innovation stakeholders to showcase solutions spanning clean energy financing, digital commerce, fintech, education technology, and logistics. &nbsp; ALSO: NITDA Partners JICA To Accelerate Nigeria’s Tech Innovation, Startup Ecosystem &nbsp; Participating startups advanced through multiple stages, including state-level screenings [&hellip;]
- [FG Expands YouthCred Consumer Credit Programme to All Employed Nigerians](https://thefintechinsights.com/fg-expands-youthcred-consumer-credit-programme-to-all-employed-nigerians/): The Federal Government has expanded the Nigerian Consumer Credit Corporation’s (CREDICORP) YouthCred programme to all employed young Nigerians aged 18 to 39, widening access to affordable consumer credit nationwide. &nbsp; The expansion follows the success of the initial YouthCred NYSC Pilot launched in July 2025, which saw over 51,000 corps members benefit from credit education and access to low-interest loans. Beneficiaries used the support to acquire mobility solutions, digital devices, solar systems, work tools, and other essentials to aid their transition into productive post-service life, demonstrating a strong national demand for fair and accessible consumer credit. &nbsp; ALSO: IFC Targets [&hellip;]
- [NALA Secures Bank of Ghana Approval to Launch Remittance Services](https://thefintechinsights.com/nala-secures-bank-of-ghana-approval-to-launch-remittance-services/): NALA, a globally regulated fintech company building modern payment infrastructure, has received formal approval from the Bank of Ghana to operate remittance services in the country. &nbsp; The regulator issued a Letter of No Objection (LONO) to NALA and its licensed local partner, BigPay, authorising both companies to roll out compliant remittance operations within Ghana’s financial system. The approval marks a significant regulatory milestone as NALA expands its cross-border payments network across Africa and Asia. &nbsp; The move strengthens NALA’s mission to build payments for the next billion by delivering secure, affordable, and seamless international money transfer solutions to individuals [&hellip;]
- [IFC Targets $2.1bn Investment Pipeline to Boost Manufacturing, Energy, Tourism and Jobs in Nigeria](https://thefintechinsights.com/ifc-targets-2-1bn-investment-pipeline-to-boost-manufacturing-energy-tourism-and-jobs-in-nigeria/): The International Finance Corporation (IFC) is betting big on Nigeria’s real-sector revival, prioritising manufacturing, clean energy, agriculture, tourism and other job-intensive industries as part of its $2.1 billion investment pipeline for 2026. &nbsp; The push aims to accelerate private-sector growth and help Africa’s largest crude producer convert ongoing economic reforms into broad-based prosperity. &nbsp; Christian Mulamula, IFC Country Head for Nigeria, said the institution’s strategy for 2026 will focus on sectors with the highest potential to create sustainable employment and support Nigeria’s economic diversification agenda. &nbsp; ALSO: CBN Directs Banks, Fintechs to Implement Mandatory Dual Connectivity for PoS Transactions &nbsp; [&hellip;]
- [CBN Moves to Protect Consumers With Unified Banking Short Code, Faster Issue Resolution](https://thefintechinsights.com/cbn-moves-to-protect-consumers-with-unified-banking-short-code-faster-issue-resolution/): The Central Bank of Nigeria (CBN) has announced that it is partnering with the Nigerian Communications Commission (NCC) to introduce an industry-wide short code that will allow consumers to contact their banks anytime, anywhere even without internet access. &nbsp; Dr. Aisha Isa-Olatinwo, Director of Consumer Protection and Financial Inclusion at the CBN, revealed this during a virtual Consumer Protection Town Hall meeting titled “Ask the Regulator”, organised by Enhancing Financial Innovation and Access (EFInA). &nbsp; ALSO: EFCC Warns OPay on Stricter KYC, Anti-Fraud Compliance, Insider-Abuse Prevention &nbsp; According to her, Nigeria’s fast-evolving financial ecosystem now overlaps heavily with the telecom [&hellip;]
- [EFCC Warns OPay on Stricter KYC, Anti-Fraud Compliance, Insider-Abuse Prevention](https://thefintechinsights.com/efcc-warns-opay-on-stricter-kyc-anti-fraud-compliance-insider-abuse-prevention/): The Economic and Financial Crimes Commission (EFCC) has issued a strong compliance warning to OPay, urging the fintech company to strengthen its Know-Your-Customer (KYC) processes, tighten anti-fraud safeguards, and prevent insider abuse across its operations. &nbsp; The directive was delivered by EFCC Chairman, Mr. Ola Olukoyede, during a courtesy visit by OPay CEO, Steven Wen, and senior executives to the Commission’s headquarters. The meeting comes amid heightened regulatory scrutiny of fintechs as authorities push for stronger anti-money laundering controls within the digital financial ecosystem. &nbsp; EFCC: “Don’t Allow Your Platform to Be Used for Fraud” &nbsp; Speaking through the Chairman’s [&hellip;]
- [FG Makes TIN Mandatory for All Nigerians to Operate Bank Accounts From 2026](https://thefintechinsights.com/fg-makes-tin-mandatory-for-all-nigerians-to-operate-bank-accounts-from-2026/): The Federal Government has announced that all taxable Nigerians will be required to obtain a Tax Identification Number (TIN) to operate bank accounts starting January 1, 2026, as part of the country’s new tax reforms. &nbsp; Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, confirmed the directive in an interview shared on his X account on Thursday. He explained that Section 4 of the Nigerian Tax Administration Act (NTAA) which becomes effective in 2026, mandates all taxable individuals and businesses to possess a valid tax ID. &nbsp; ALSO: CBN Directs Banks, Fintechs to Implement Mandatory [&hellip;]
- [CBN Directs Banks, Fintechs to Implement Mandatory Dual Connectivity for PoS Transactions](https://thefintechinsights.com/cbn-directs-banks-fintechs-to-implement-mandatory-dual-connectivity-for-pos-transactions/): The Central Bank of Nigeria (CBN) has issued a new directive ordering all banks, fintechs, acquirers, processors, and payment terminal service providers to fully implement dual connectivity for Point of Sale (PoS) transactions within one month. &nbsp; The directive, contained in a circular dated December 11, 2025, and signed by Rakiya Yusuf, Director of Payments System Supervision, updates an earlier regulation first introduced in September 2024. &nbsp; ALSO: OPay Faces N100 Million Lawsuit from Moniepoint, TeamApt for Breach of Banking Ethics &nbsp; According to the CBN, the policy is aimed at eliminating the persistent PoS transaction failures caused by operators [&hellip;]
- [FCMB Capital Markets Bags “Best Corporate Bond House of the Year” at 2025 AIHN Awards](https://thefintechinsights.com/fcmb-capital-markets-bags-best-corporate-bond-house-of-the-year-at-2025-aihn-awards/): FCMB Capital Markets Limited, a subsidiary of FCMB Group Plc, has been honoured as the “Best Corporate Bond House of the Year” at the 2025 Association of Issuing Houses of Nigeria (AIHN) Investment Banking Awards in Lagos. &nbsp; The award highlights the firm’s leadership in structuring, arranging, and executing major corporate bond transactions that support business expansion and strengthen Nigeria’s capital markets. &nbsp; The AIHN Awards celebrate investment banking institutions that demonstrate innovation, consistency, and excellence in capital raising, advisory services, and regulatory compliance. &nbsp; Reacting to the honour, Femi Badeji, Executive Director, Coverage &amp; Investment Banking at FCMB Group [&hellip;]
- [PoS Operators Clash with CAC Over Mandatory Registration Deadline Ahead of 2026](https://thefintechinsights.com/pos-operators-clash-with-cac-over-mandatory-registration-deadline-ahead-of-2026/): The Corporate Affairs Commission’s (CAC) new compliance mandate for Point-of-Sale (PoS) operators has ignited intense debate across Nigeria’s mobile money industry, setting the stage for a regulatory faceoff that could reshape the agent-banking ecosystem. &nbsp; Last week, the CAC ordered all PoS operators to complete formal business registration before January 1, 2026, warning that non-compliant agents risk seizure of their terminals and immediate shutdown. The Commission described the surge in unregistered PoS agents as a growing threat to financial stability and a violation of both the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria’s agent-banking [&hellip;]
- [CBN’s Approval of 82 New BDC Licences Sparks Uncertainty Across Abuja FX Market](https://thefintechinsights.com/cbns-approval-of-82-new-bdc-licences-sparks-uncertainty-across-abuja-fx-market/): The Central Bank of Nigeria’s (CBN) approval of 82 new Bureau De Change (BDC) licences has triggered significant unease across Abuja’s foreign exchange market, with operators and analysts warning that the move, though potentially beneficial in the long run may worsen instability in a system still recovering from years of regulatory turmoil. &nbsp; The new approvals align with the CBN’s broader push to reform and liberalise the FX landscape after years of inconsistent directives, sanctions, and major clean-ups within the subsector. While the apex bank insists the fresh licences will enhance competition and transparency, many industry participants argue that the [&hellip;]
- [UK Tribunal Dismisses Discrimination, Unfair Dismissal Case Against Kuda](https://thefintechinsights.com/uk-tribunal-dismisses-discrimination-unfair-dismissal-case-against-kuda/): An employment tribunal in the United Kingdom has dismissed all claims of discrimination and unfair dismissal filed against Nigerian fintech company Kuda by its former Chief People Officer, Rosemary Hewat. &nbsp; Hewat had sued the company in February 2025, alleging gender discrimination, unfair treatment, and wrongful termination stemming from events between 2023 and 2024. Her claims included accusations of public humiliation, a hostile work environment, and unequal stock option allocations. &nbsp; However, in a judgment delivered between October 13 and 21, 2025, the Tribunal ruled that none of the allegations were substantiated after reviewing evidence and testimonies from both parties. [&hellip;]
- [Access Bank, Two Others Ordered to Explain Unauthorised Deductions or Face Sanctions](https://thefintechinsights.com/access-bank-two-others-ordered-to-explain-unauthorised-deductions-or-face-sanctions/): The House of Representatives has summoned the chief executives of Access Bank, Aigboje Aig-Imoukhuede, CFR and two other Nigerian Banks over allegations of unauthorised deductions from the accounts of civil servants, public-sector workers, and other customers, a move that puts three of Nigeria’s biggest lenders under intense scrutiny. &nbsp; The summons, issued by the House investigative panel chaired by Kelechi Nwogu, mandates the CEOs to appear in person, with no option of sending representatives. Nwogu stressed that full accountability is required at the highest level: “You cannot appear here without an identity,” he warned during Tuesday’s session in Abuja. &nbsp; [&hellip;]
- [OPay Faces N100 Million Lawsuit from Moniepoint, TeamApt for Breach of Banking Ethics](https://thefintechinsights.com/opay-faces-n100-million-lawsuit-from-moniepoint-teamapt-for-breach-of-banking-ethics/): OPay, one of Nigeria’s leading fintech companies has been dragged into a high-stakes legal battle following a lawsuit filed by TeamApt Limited and Moniepoint Microfinance Bank Limited, accusing the firm of compromising confidential business information and engaging in unethical recruitment practices. &nbsp; The case, filed as Suit No. FHC/L/332/2025 at the Federal High Court in Lagos, lists OPay and its affiliate, SOTI Investments Limited, as defendants. &nbsp; According to the plaintiffs, OPay allegedly targeted and recruited key Business Relationship Managers with access to sensitive internal data, trade secrets, and strategic merchant information. &nbsp; ALSO: FairMoney Expands Product Portfolio to Accelerate [&hellip;]
- [Google Commits $2.1m to Boost Nigeria’s AI Strategy, Create One Million Digital Jobs](https://thefintechinsights.com/google-commits-2-1m-to-boost-nigerias-ai-strategy-create-one-million-digital-jobs/): Google.org has unveiled a $2.1 million (₦3 billion) investment to accelerate Nigeria’s artificial intelligence ecosystem, support the creation of one million digital jobs, and strengthen the country’s rapidly expanding tech economy. &nbsp; The funding comes as AI is projected to add as much as $15 billion to Nigeria’s GDP by 2030. It will directly support the implementation of Nigeria’s National AI Strategy through partnerships with local organisations focused on advanced skills development, innovation, and digital safety. &nbsp; Under the initiative, Google.org will fund three key organisations to drive AI training nationwide. FATE Foundation and the African Institute for Mathematical Sciences [&hellip;]
- [ECOWAS to Scrap Air Ticket Taxes by 2026 to Cut Fares, Boost Regional Travel](https://thefintechinsights.com/ecowas-to-scrap-air-ticket-taxes-by-2026-to-cut-fares-boost-regional-travel/): The Economic Community of West African States (ECOWAS) has announced that all air ticket taxes across airports in the sub-region will be abolished from January 1, 2026, a landmark decision aimed at slashing airfare costs and accelerating regional integration. &nbsp; The plan was disclosed by the ECOWAS Director of Transport and Communications, Chris Appiah, during a briefing with journalists on the sidelines of the Council of Ministers’ meeting on Wednesday in Abuja. &nbsp; Appiah said the tax removal is a key component of a sweeping aviation reform programme adopted by the ECOWAS Authority of Heads of State and Government in [&hellip;]
- [FEC Approves New Bank of Industry Headquarters, 200 Electric Buses, Nigeria Industrial Policy](https://thefintechinsights.com/fec-approves-new-bank-of-industry-headquarters-200-electric-buses-nigeria-industrial-policy/): The Federal Executive Council (FEC) has approved the construction of a new headquarters for the Bank of Industry (BoI) at Eko Atlantic City, Lagos, a significant milestone in the government’s efforts to strengthen Nigeria’s industrial and financial architecture. &nbsp; Minister of State for Industry, Trade and Investment, Senator John Enoh, disclosed this on Wednesday while briefing State House correspondents after the council meeting presided over by President Bola Tinubu in Abuja. He said FEC considered five memos from his ministry, three on industrial development and two on trade and investment. &nbsp; BoI to Build New Headquarters in Eko Atlantic City [&hellip;]
- [CBN Launches Revamped ACGSF Board to Boost Food Security, Farmer Credit Access](https://thefintechinsights.com/cbn-launches-revamped-acgsf-board-to-boost-food-security-farmer-credit-access/): The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has announced a renewed push to overhaul agricultural financing in Nigeria, describing the inauguration of the newly reconstituted Agricultural Credit Guarantee Scheme Fund (ACGSF) Board as a pivotal moment in the nation’s quest for food security and inclusive economic growth. &nbsp; Speaking in Abuja on Tuesday, Cardoso said the event was more than a formal ceremony,  it was a “bold statement of intent” to reposition agriculture through targeted reforms, innovation, and stronger institutional leadership. &nbsp; He noted that the ACGSF, one of Nigeria’s longest-standing development finance programmes, has supported [&hellip;]
- [CBN Unveils Priorities for NFIS 4.0 to Deepen Access, Credit, and Digital Financial Services](https://thefintechinsights.com/cbn-unveils-priorities-for-nfis-4-0-to-deepen-access-credit-and-digital-financial-services/): Philip Ikeazor, Deputy Governor in charge of Financial System Stability at the Central Bank of Nigeria (CBN), says financial inclusion must remain a central pillar of Nigeria’s economic transformation agenda, stressing that the next phase of reforms will be critical for driving growth, stability, and poverty reduction. &nbsp; Speaking through Aisha Issa Olatinwo, Director of Consumer Protection and Financial Inclusion, at the 9th Annual Financial Markets Conference organised by the Financial Markets Dealers Association, Ikeazor said the link between financial inclusion, economic stability, and national development has become more evident, describing inclusion as “a fundamental pillar for improving livelihoods.” &nbsp; [&hellip;]
- [CBN Confirms 82 Newly Licensed BDC Operators Under Revised FX Guidelines (FULL LIST)](https://thefintechinsights.com/cbn-confirms-82-newly-licensed-bdc-operators-under-revised-fx-guidelines-full-list/): The Central Bank of Nigeria (CBN) has confirmed the approval of 82 Bureau De Change (BDC) operators who have now received final licences to commence operations effective November 27, 2025. The approvals align with the apex bank’s strengthened regulatory framework for Nigeria’s foreign exchange market. &nbsp; According to an official statement signed by Hakama Sidi Ali, Acting Director of Corporate Communications, the licences were issued under the CBN’s powers as provided in the Banks and Other Financial Institutions Act (BOFIA) 2020 and the 2024 Regulatory and Supervisory Guidelines for Bureaux De Change Operations in Nigeria. &nbsp; The CBN stated that [&hellip;]

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