Banking Digest … banking news you can use

The Central Bank of Nigeria (CBN) has lifted its ban on onboarding new customers for five major fintech startups: OPay, Paga, Kuda, Palmpay, and Moniepoint. This decision comes after these fintech companies met the regulatory requirements set by the CBN, including Know Your Customer (KYC) compliance. The ban, originally imposed on April 30, 2024, was due to allegations that these …

Aigboje Aig-Imoukhuede, Chairman of Access Holdings PLC and Coronation Group, has been awarded the prestigious African Banker Lifetime Achievement Award. This accolade was presented during the African Banker Awards ceremony held in Nairobi, Kenya, coinciding with the 2024 Annual Meetings of the African Development Bank. Aig-Imoukhuede’s career, spanning over three decades, has been marked by transformative leadership in the African …

The Central Bank of Nigeria (CBN) has revoked the banking licence of Heritage Bank Plc. The decision, announced on June 3, 2024, takes immediate effect. This action is rooted in the bank’s failure to comply with financial requirements stipulated under Section 12 (1) of the Banks and Other Financial Institutions Act (BOFIA) 2020. The CBN highlighted that Heritage Bank’s financial …