CBN elevates terrorism financing to top supervisory priority - ITREALMS

The Central Bank of Nigeria (CBN) has elevated terrorism financing supervision to a core supervisory priority as part of its ongoing efforts to safeguard the nation's financial system from exploitation by illicit actors, reports ITREALMS.

According to a press statement issued on September 8, 2026, by Hakama Sidi-Ali, the Acting Director of Corporate Communications and Investor Relations, the enhanced focus encompasses terrorism financing risk management, transaction monitoring, targeted financial sanctions implementation, and the reporting of related suspicious transactions.

CBN: Five pillars for next-generation Fintech growth in Nigeria - ITREALMS

The Central Bank of Nigeria (CBN) has declared that the next phase of fintech development in the country must center on five strategic outcomes to drive sustainable expansion, consumer confidence, and economic resilience, reports ITREALMS.

Speaking in Lagos at the 3rd Business Journal Fintech & Financial Inclusion Roundtable 2026, CBN Governor Mr. Olayemi Cardoso stated that Nigeria’s evolving digital financial ecosystem must consistently deliver services that are reliable, secure, fair, and widely accessible.

CBN Governor, Cardoso to keynote @Business Journal Fintech & Financial Inclusion Roundtable 2026 - ITREALMS Online

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, is set to deliver an address as Special Guest of Honour at the 3rd Business Journal Fintech & Financial Inclusion Roundtable 2026, reports ITREALMS.

The event is scheduled for Friday, July 31, 2026, at the Oriental Hotel, Lekki Road, Victoria Island, Lagos, starting at 10:00 AM prompt, with the apex bank officially confirming Governor Cardoso’s participation over the weekend.

Former CBN Deputy Governor Tunde Lemo to chair 8th Penpushing Media anniversary lecture - ITREALMS

Former Deputy Governor of the Central Bank of Nigeria (CBN), Dr. Tunde Lemo, has accepted to serve as the Chairman of the 8th annual anniversary lecture of Penpushing Media, scheduled to hold on July 23, 2026, at the Olusegun Obasanjo Presidential Library (OOPL) in Abeokuta, Ogun State, reports ITREALMS.

The Chairperson of the Anniversary Lecture Planning Committee, Dr. Abiola Akiyode-Afolabi, disclosed this during a media briefing, confirming that Dr. Lemo has pledged to be physically present at the high-profile media gathering.

Mass license revocation hits 46 Microfinance banks across Nigeria - ITREALMS

In a major regulatory sweep aimed at safeguarding Nigeria's financial ecosystem, the Central Bank of Nigeria (CBN) has revoked the operating licenses of 46 Microfinance Banks (MFBs), effective July 1, 2026, reports ITREALMS.


The directive, approved by CBN Governor Mr. Olayemi Cardoso, comes as a direct response to the institutions' failure to meet critical regulatory benchmarks required to remain operational.

According to the official press release of revocation of 46 MfB signed by Mrs. Hakama Sidi-Ali, the Acting Director of Corporate Communications, the banks fell short on multiple fronts under the Banks and Other Financial Institutions Act (BOFIA) 2020.

Infractions ranged from capital erosion and asset insufficiency to outright operational closure and failure to commence banking activities within a year of getting a license. 

The apex bank reiterated that this hardline stance is necessary to shield depositors and ensure total compliance with financial sector laws.

The official list, revealed that the regulatory crackdown cut across Tier 1, Tier 2, and State-licensed categories, heavily impacting several commercial hubs and regional states.

The geographical distribution of the affected microfinance banks reveals that Kano State bore the biggest brunt of the regulatory purge, losing a total of 13 institutions. 

Among the closed entities in Kano were high-profile names and recently rebranded establishments like Now Now Digital MFB, Zain MFB (formerly Dawakin Tofa), Ajwa MFB, Bompai MFB, and Bellbank MFB. Other community institutions cleared from the state include Minjibir, Shanono, Sumaila, Rimin Gado, Sycamore, Tofa, Kanopoly, and Esteem Microfinance Banks.

Lagos State, Nigeria's primary economic hub, followed closely with 9 microfinance banks shut down. The affected institutions in Lagos comprise Gold MFB, Safegate MFB, Supreme MFB, Ourpass MFB, Verdant MFB, Basawa MFB, Entrepreneur MFB, and the State-categorized Chanelle MFB.

Other regions also felt the impact of the CBN's sweeping exercise:

Abia State saw the exit of Merchant MFB and the Abia SME MFB.

Federal Capital Territory (FCT), Abuja, lost Winview MFB and Casha MFB.

Kaduna State had Zafec MFB and Straight Sahara MFB revoked.

Kebbi State lost both Kamba and Zuru Microfinance Banks.

Niger State saw the closure of Busu MFB and Bejin-Doko MFB.

Ogun State was affected by the revocation of Iwade MFB and Apple MFB.

Plateau State lost Mwaghavul MFB and Yeneng MFB.

A single microfinance bank license was also revoked in each of the following states: Anambra (Frontline MFB), Bayelsa (Crystabel MFB), Benue (Creditville MFB), Cross River (Livingspring MFB), Delta (Creekline MFB), Kwara (Janmaa MFB), Ondo (MBAG MFB), Osun (Avantus MFB), Oyo (Bestar MFB), Rivers (Minji-Se Churchill MFB), and Akwa Ibom / Uyo (Stanford MFB).

Remmy Nweke/DoP

NCC, CBN seal pact to secure financial fate of telecom consumers - ITREALMS Online

ITREALMS ... making leadership SENSE with digital news!

The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have signed a historic Memorandum of Understanding (MoU), reports ITREALMS.

This coordinated national framework is specifically engineered to safeguard consumers against electronic fraud while opening new opportunities within the telecommunications and financial theater.

NCC, CBN unveil new framework: 30-Second refunds mandated for failed airtime transactions - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

In a decisive move to protect digital consumers, the Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have jointly unveiled a regulatory framework mandating that subscribers receive refunds for failed airtime and data transactions within 30 seconds, reports ITREALMS.

This major policy shift aligns with the consumer-focused objectives of both regulators and aims to eliminate the frustration of "debit without value," where subscribers are charged for services they never receive due to network downtimes, system glitches, or human error.

The new framework, 

ITREALMS gathered, is the outcome of several months of high-level engagements involving the NCC, the CBN, Mobile Network Operators (MNOs), Value Added Service (VAS) providers, and Deposit Money Banks (DMBs).

These stakeholders convened to address the rising incidence of failed airtime and data purchases, which have increasingly led to subscribers being debited without receiving value and facing prolonged delays in resolution.

Representing a unified position by both the telecommunications and financial sectors, the framework identifies and tackles the root causes of transaction failures.

It prescribes an enforceable Service Level Agreement (SLA) for operators and banks, clearly outlining the roles and responsibilities of each party in the transaction and resolution process.

Under the strict new guidelines, if a purchaser is debited but fails to receive value for airtime or data, whether the failure occurs at the bank level or with an NCC licensee, the purchaser is entitled to a refund within 30 seconds.

The only exception applies to circumstances where the transaction remains pending, in which case the refund process must be concluded within 24 hours.

Furthermore, the framework mandates operators to notify consumers via SMS regarding the success or failure of every transaction.

It also addresses erroneous recharges to ported lines, incorrect airtime or data purchases, and instances where transfers are made to the wrong phone number.

Speaking on the development, the Director of Consumer Affairs at the NCC, Mrs. Freda Bruce-Bennett, disclosed that the framework establishes a Central Monitoring Dashboard to be jointly hosted by the NCC and the CBN.

She explained that the dashboard will enable both regulators to monitor failures, identify the responsible party, verify refunds, and track SLA breaches in real time.

Mrs. Bruce-Bennett noted that failed top-ups rank among the top three consumer complaints received by the Commission.

She emphasized that in line with their commitment to addressing priority issues, the regulators were determined to resolve the problem within the shortest possible time.

She expressed gratitude to all stakeholders, particularly the leadership of the Central Bank of Nigeria, for their tireless commitment to finalizing the framework and ensuring that consumers of telecommunications services receive full value for their purchases.

Highlighting the immediate impact of the initiative, Mrs. Bruce-Bennett revealed that even pending the final management approval of the framework, MNOs and banks have collectively made refunds of over N10 billion to customers for failed transactions.

According to the Head of Public Affairs at the NCC, Mrs. Nnenna Ukoha, full implementation of the framework is expected to commence on March 1, 2026.


This timeline allows for final regulatory approvals and the conclusion of technical integration by all MNOs, VAS providers, and DMBs.

CBN Governor champions next-gen leadership with new national lecture series - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, will deliver a landmark lecture at Lagos Business School on Friday, October 3, 2025.

The lecture, titled “Next Generation Leadership in Monetary Policy & Nation Building,” marks the launch of the CBN Governor’s Lecture Series, the first in a series of thought-leadership discourses to be held in collaboration with leading tertiary institutions across the country over the next three years.

CBN unveils Payments System Vision 2028 - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

…sets blueprint for inclusive, innovative, and secure financial ecosystem

The Central Bank of Nigeria (CBN) has launched the Nigeria Payments System Vision 2028 (PSV 2028), a new strategic framework designed to shape the future of the country’s digital financial ecosystem and position Nigeria as a global leader in payments innovation.

Speaking at the inaugural meeting of the PSV 2028 Project Committee in Lagos on Tuesday, September 9, 2025, the Director of the Payments System Policy Department (PSPD), Mr. Musa Itopa Jimoh, described the initiative as a “national assignment” capable of transforming the way individuals, businesses, and government interact within the financial system.

CBN Governor Cardoso reaffirms commitment to macroeconomic stability, stronger banking sector - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated the Bank’s commitment to restoring macroeconomic stability, strengthening the banking sector, and positioning Nigeria as a leading investment destination.

Speaking at a fireside chat with Andreas Voss, Chief Country Representative of Deutsche Bank Nigeria, during the European Business Chamber (Eurocham Nigeria) C-Level Forum in Lagos on Saturday, September 6, 2025, Cardoso said the ongoing bank recapitalisation exercise is “making good progress” and will produce stronger institutions capable of withstanding shocks and financing growth.

Cardoso, CBN honoured @Nairametrics Capital Market Choice awards - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has been honoured at the inaugural Nairametrics Capital Market Choice Awards on May 23, 2025, reports ITREALMS.

Nairametrics Founder/CEO, Mr. Ugo Obi-Chukwu, presented the award, citing Cardoso's transformative leadership and strategic contributions to Nigeria's financial and capital markets. Obi-Chukwu noted the CBN's reforms under Cardoso, which have revitalized the financial sector, boosted investor confidence, increased market participation, and promoted long-term economic stability.

CBN refutes deposit uncertainty on regulated financial institutions - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Central Bank of Nigeria (CBN) has refuted certain publications and social media reports containing misleading information regarding the operations of a regulated financial institution, reports ITREALMS.

The apex bank noted that its attention has been drawn to the misleading publication, and wishes to categorically reassure the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound.

CBN warns against ‘Fraudulent Claims and Fictitious Contracts' – ITREALMS

ITREALMS ... making leadership SENSE with digital news!


The Central Bank of Nigeria (CBN) has warned against purported fraudulent claims and fictitious contracts, by some individuals and groups fronting for the apex bank, reports ITREALMS.

A public disclaimer by the acting Director, Corporate Communications, Sidi Ali, Hakama (Mrs.) and available to 
ITREALMS, informed that the attention of the Central Bank of Nigeria (CBN) has been drawn once again to the activities of individuals and groups falsely claiming to represent or act on behalf of the CBN.

CBN records strongest net reserve position in over 3-yrs - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Central Bank of Nigeria (CBN) has reported a substantial improvement in its Net Foreign Exchange Reserve (NFER) position which stood at $23.11 billion, as of the end of 2024, reports ITREALMS.

This, CBN also noted, reflected a substantial improvement in the country’s external liquidity, reduced short-term obligations, and renewed investor confidence.

Is CBN pushing Nigerians back to banking halls? Asks Elvis Eromosele - ITREALMS

Commentary@ITREALMS ... making leadership SENSE with digital news!

Public institutions in Nigeria have a knack for policy inconsistency. They can aggressively pursue a course of action one moment and, the very next, introduce measures that directly contradict their stated objectives. The Central Bank of Nigeria (CBN) is currently at the centre of one such paradox.

Everyone alive in the last couple of years witnessed the CBN champion financial inclusion, digital banking and cashless transactions. It actively encouraged banks to expand their digital footprint, increase adoption of digital payments and decongest the banking halls. Nigerians responded positively. People embraced digital banking, relying on ATMs, mobile transfers and POS terminals instead of entering the banking halls.

Forfeiture Order: CBN reassures public on Keystone bank’s stability - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Central Bank of Nigeria (CBN) has reassured Nigerians and commercial banking public that there is no cause for alarm over the court order on forfeiture of some shares to the Federal Government of Nigeria, reports ITREALMS.

The apex bank also declared that the commercial bank is safe, sound, and fully operational.

Telecoms sector: Cardoso reiterates calls for backward integration - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Governor, Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated calls for deeper backward integration in the telecommunications sector, emphasising the need to localise key supply chains while expanding financial services to benefit ordinary Nigerians.

Speaking in Abuja on Wednesday, February 12, 2025, during a courtesy visit to CBN headquarters by Airtel Africa’s management team, led by Group Chief Executive Officer Mr. Sunil Taldar, Cardoso emphasised the need to reduce the sector’s reliance on foreign exchange.

CBN Goes Cashless

ITREALMS ... making leadership SENSE with digital news!

CBN: Our early exit package is voluntary - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Central Bank of Nigeria (CBN) has dismissed claims of forced mass retirements, clarifying that its Early Exit Package (EEP) is entirely voluntary and without any negative repercussions for eligible staff, reports ITREALMS.

The Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, disclosed this as the outcome of extensive consultations with the Bank’s Joint Consultative Council (JCC), a body representing staff interests.

CBN launches new website, goes live Monday, December 2, 2024 - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Central Bank of Nigeria (CBN) has launched a new website, www.cbn.gov.ng, just as it would go live on Monday, December 2, 2024, reports ITREALMS.

Confirming this development to ITREALMS on Sunday, the Ag. Director, Corporate Communications, Mrs. Hakama Sidi Ali, expressed their pleasure to proclaim the redesigned website is now ready.