The Central Bank of Nigeria (CBN) is the country's apex monetary authority, established by the CBN Act of 1958 and officially commencing operations on July 1, 1959
What the new CBN marketing regulations mean for financial institutions
In 2018, Nigerian banks engaged in humorous exchanges on social media, known as #BankWars, to compete for customer attention. The CBN issued a circular on November 27, 2025, prohibiting comparative advertising and chance-based promotions among financial institutions.
As loan defaults rise, Zeeh relaunches Direct Debit for Nigeria’s digital lenders
Zeeh Africa has relaunched its Direct Debit feature to improve loan repayment processes. The Central Bank of Nigeria reported a rise in defaults on unsecured loans in Q2 2025.
Zenith confirms Kenyan expansion, says acquisition awaiting regulatory approval
Zenith Bank confirms its entry into Kenya is pending final regulatory approvals. The bank is in advanced talks to acquire Paramount Bank Ltd, a mid-tier lender.
Verto opens new office in Lagos
Verto has opened a new office in Lagos, Nigeria, strengthening its presence in West Africa. The Lagos office will serve as a central hub for customer support, product development, and regulatory engagement.
What the National Fintech Regulatory Commission Bill means for innovation
The National Fintech Regulatory Commission Bill proposes a unified body to oversee all fintech activities in Nigeria. The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) currently provide strong regulatory support for fintech growth.
