News
Kenyan banks double MSME lending to $2.5bn on rate cuts
7+ hour, 32+ min ago (501+ words) Equity leads surge as industry beats target Kenya's banking sector more than doubled its MSME lending target in 2025, disbursing KES326.5 billion ($2.53 billion) in new loans to small and medium-sized businesses, far exceeding the annual target of KES150 billion ($1.16 billion). The performance signals…...
Flutterwave edge closer to banking with microfinance licence
7+ hour, 12+ min ago (508+ words) Flutterwave has taken steps to deepen its role in Nigeria's financial system by moving into microfinance banking which signals a shift from payments infrastructure to full-stack financial services. The company is positioning itself to operate a microfinance bank (MFB), a…...
Five African icons set to retire after 2026 World Cup
8+ hour, 58+ min ago (659+ words) The 2026 FIFA World Cup is fast approaching; while many players will be making their debut on football's grandest stage, others are expected to draw the curtain on their international careers after the tournament. As the world prepares for the most…...
CBN AML directive triggers tech reset as banks, fintechs battle data, talent gaps
11+ hour, 4+ min ago (988+ words) Nigeria's financial sector is entering a critical transition phase as a new Anti-Money Laundering (AML) directive from the Central Bank of Nigeria (CBN) forces banks and fintech firms to overhaul outdated systems, exposing deep-rooted weaknesses in data quality, technology infrastructure…...
AICPA partners NCMI to deepen risk management, governance
9+ hour, 54+ min ago (725+ words) The American Institute of CPAs (AICPA) has partnered with the Nigerian Capital Market Institute (NCMI) to expand access to global risk management and internal control certification programmes for operators in Nigeria's capital market. The collaboration will give Capital Market Operators…...
NEDC partners, Nephrology Association, marks World Kidney Day, urges healthy living
10+ hour, 53+ min ago (368+ words) The North East Development Commission (NEDC), in collaboration with the Nigeria Association of Nephrology, has marked World Kidney Day in Yola with a strong call for residents to adopt healthier lifestyles to safeguard their kidney health. The awareness campaign, held…...
FG's naira-for- crude saved Nigeria's from crude oil supply volatility - Presidency
9+ hour, 9+ min ago (927+ words) The launch of the naira-for-crude initiative on October 1, 2024, has been described as the major saving grace for Nigeria in the ongoing economic turmoil resulting from the Iran-Israel-US conflict in the Middle East. Recall that President Bola Tinubu had demonstrated this…...
Nigeria's solar boom hits cost wall as China ends export subsidies
2+ day, 17+ hour ago (1243+ words) To take effect April 1 Nigeria's fast-growing solar power sector is facing a new constraint as China moves to dismantle the export subsidies that once made renewable hardware historically cheap. For years, developers and households across Africa's most populous country benefited…...
Tax Liabilities Beyond Borders: How Nigeria’s new tax regime affects the Nigerian diaspora
13+ hour, 38+ min ago (461+ words) The old rules on taxation of individuals The PITA also provided the framework for determining the residence of individuals. Specifically, the First Schedule to the PITA prescribed the tests for determining whether an individual is resident in any State in…...
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1+ day, 14+ hour ago (15+ words) The progress of Benin's circular economy should rely on entrepreneurship, not government decisions'Businessday NG...