The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to immediately freeze the accounts, funds and other assets belonging to individuals and organisations designated for alleged terrorism financing. The directive was contained in a circular issued on Thursday and signed by the Director of Compliance, Olubunmi Ayodele-Oni. According to the apex bank, the action followed recent designations by the Nigeria Sanctions Committee and the United States Treasury Department’s Office of Foreign...

The Central Bank of Nigeria (CBN) has increased the fee for the issuance and replacement of Automated Teller Machine (ATM) debit and credit cards by 50 per cent to ₦1,500, up from ₦1,000. The apex bank also scrapped the ₦50 monthly maintenance charge on naira-denominated debit and credit cards, a fee that previously included 7.5 per cent Value Added Tax (VAT). However, it said that customers with foreign currency-denominated debit or credit cards will continue...

Airtel Nigeria has suspended its airtime and data credit services, becoming the latest telecom operator to take action in response to new regulatory requirements introduced by the Federal Competition and Consumer Protection Commission (FCCPC). The development comes after MTN Nigeria earlier halted similar services, signalling a broader industry adjustment to the FCCPC’s stricter framework for digital lending in the country. Airtel’s Director of Marketing, Mr Ismail Adeshina, disclosed the suspension in a statement issued on...

Industrialist Aliko Dangote has been named among TIME Magazine’s 100 Most Influential People in the World for 2026. The annual list, released on 15 April, recognises global figures shaping business, politics, science, and culture. Dangote is the only Nigerian on the list and was featured in the “Titans” category, marking his second appearance after his 2014 recognition. He joins world leaders and business figures including Donald Trump, Xi Jinping, Benjamin Netanyahu, Sundar Pichai, and Neal...

The Central Bank of Nigeria has introduced a ₦20,000 transaction cap for customers using mobile banking applications on newly activated devices, as part of a fresh move to tackle rising digital fraud. The directive, contained in a circular dated 12 March and signed by Musa Jimoh, Director of Payments System Policy, applies to banks, fintech firms, and mobile money operators across the country. Under the new rule, customers will be restricted to a maximum of...

Nigeria’s Vice President, Kashim Shettima, has defended the Federal Government’s proposed tax reforms, insisting that the new measures are designed to improve livelihoods and reduce the burden of multiple taxes on small businesses and low-income earners. Speaking on Wednesday in Abuja at an interfaith breaking of fast for Ramadan and Lent held at the State House, Shettima said the reforms were carefully planned to address the concerns of ordinary Nigerians, contrary to claims by critics...