Banking Regulation

The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks across the country, with Lagos and Kano accounting for the largest number of affected institutions, in a move aimed at strengthening financial…

The Central Bank of Nigeria (CBN) has introduced stricter penalties for breaches in the country’s foreign exchange market, including a N100m forex penalty for banks that process foreign exchange transactions without the required…