In a renewed push towards enhancing financial transparency and global best practices in public sector accounting, the Lagos State Government has commenced an intensive capacity-building programme for its finance and audit personnel. The training, organized by the Ministry of Establishments and Training, is targeted at equipping Accounts, Finance, and Audit Officers across Ministries, Departments, and
Abuja, July 25, 2025 – TAJ Bank has suffered a fresh system error resulting in the wrongful transfer of ₦957 million and has now withdrawn its earlier legal suit filed to recover the funds from 26 commercial banks and financial technology companies. The new financial glitch, which occurred amid ongoing efforts to resolve earlier reversals,
News Report – July 23, 2025 At least eleven commercial banks in Nigeria have exceeded the regulatory threshold of five percent for non-performing loans (NPLs), following an industry-wide reclassification of risk assets in April 2025. The Central Bank of Nigeria’s (CBN) guidelines stipulate that lenders must maintain NPL ratios below 5% to ensure financial system
Nigerian digital banking platform PalmPay has once again earned global recognition, securing a spot on CNBC and Statista’s prestigious 2025 list of the Top 300 Fintech Companies in the World. This marks the second year in a row that the homegrown fintech giant has been ranked among industry leaders like Revolut, Nubank, and Ant Group,
Lagos, July 18, 2025 — A landmark transaction on the Nigerian capital market has brought an end to the prolonged leadership tussle at Nigeria’s oldest financial institution, signaling a new era of stability for the iconic bank. The resolution followed the acquisition of a significant equity stake by a consortium of domestic investors, who brokered
Abuja, July 18, 2025 — Nigeria’s recent decline in inflation has created room for the Central Bank of Nigeria (CBN) to consider a more cautious approach to monetary policy easing, analysts have observed. The National Bureau of Statistics (NBS) on Wednesday reported that headline inflation dropped to 22.22% in June 2025, marking a second consecutive
Nigeria’s fintech industry continues to shine on the global stage, with five home‑grown companies, Interswitch, Moniepoint, M‑KOPA, OPay and Piggyvest, earning recognition among the world’s top 300 fintech firms in 2025, according to a recent ranking by CNBC and Statista. The list, unveiled this week, highlights fintech innovators across seven market segments, using a mix
The Federal Government of Nigeria has recorded a significant breakthrough in its ongoing fight against terrorism, securing 44 new convictions against individuals found guilty of financing terrorist activities. The convictions were obtained following detailed investigations and prosecutions carried out under the framework of the Kainji mass trial proceedings, which resumed recently in Niger State. The
The Nigerian Education Loan Fund (NELFUND) has commenced the payment of outstanding upkeep allowances to students who transitioned from digital wallets to verified commercial bank accounts. According to information made available to KIIN360, more than 3,600 beneficiaries have so far received their pending payments, following the successful update of their banking information on the official
July 10, 2025 | Calabar, Cross River State — Governor Bassey Otu has given the green light to a colossal ₦18 billion investment aimed at rehabilitating key tourism assets across the state—including Tinapa Business Resort, Marina Resort, Obudu Mountain Resort, Kwa Falls, and related facilities. The initiative forms part of a broader strategy to unlock Cross River’s
