The long-awaited merger between Unity Bank Plc and Providus Bank Limited has moved significantly closer to completion after the Supreme Court dismissed an appeal challenging the transaction and formally sanctioned the combination of the two financial institutions. In a landmark judgment delivered on Monday, Nigeria’s apex court brought an end to a prolonged legal dispute … Read more
The Association of Point of Sale (POS) Service Providers has threatened to suspend operations that could significantly affect banking transactions across Nigeria if urgent action is not taken by the Central Bank of Nigeria (CBN) and the Federal Competition and Consumer Protection Commission (FCCPC). The Association raised concerns over what it described as alleged exclusivity … Read more
The Central Bank of Nigeria (CBN) has extended the enforcement deadline for Point of Sale (PoS) terminal geo-fencing to August 1, 2026, giving banks, fintech companies, mobile money operators, and other payment service providers more time to meet the new regulatory requirement. The extension was announced in a circular dated May 29, 2026, and signed … Read more
The Central Bank of Nigeria has retained the country’s benchmark interest rate, known as the Monetary Policy Rate (MPR), at 26.5%, following the conclusion of the 305th Monetary Policy Committee (MPC) meeting held on Wednesday, May 20, 2026. The decision means the apex bank has once again chosen to maintain its current monetary tightening stance … Read more
How to lock money on opay: I decided to write this article because of something I have noticed over the years while working closely with people, business owners, students, POS agents, and everyday Nigerians trying to manage money. As someone who has spent years in financial services and business coaching, one thing I noticed is … Read more
There are some questions people ask casually, but when you look deeper, you realise the answer carries a lot of business history, fintech evolution, and lessons about how digital banking transformed Nigeria. One of those questions is this simple one: “When was Opay founded?” I have heard this question many times from students, POS agents, … Read more
Opay USSD Code: This particular article came from what I personally experienced during one of my recent visits to Unizik while working as an Opay Channel Development Lead (CDL). That day made me understand that Nigerians use Opay every single day, but surprisingly, a large number of people still do not fully understand how the … Read more
In what will come as good news to many customers, the United Bank for Africa (UBA) has announced a major increase in the international spending limit on its Naira cards. According to a recent update shared by the bank, customers can now spend up to $6,000 daily using their UBA Naira Card for cross-border transactions. … Read more
Baxi has apologised to customers and agents following growing complaints over prolonged transfer disruptions that have reportedly affected business activities and customer transactions across different parts of Nigeria. The company, in a statement released by the Baxi by Onafriq Team, admitted that many users have been facing difficulties with transfer services and acknowledged the frustration … Read more
In this edition of financial analysis on BANKiBUSINESS.COM, I want to break down an interesting interview from Follow the Money by Nairametrics, where the Group CEO of Guaranty Trust Holding Company (GTCO), the parent company of GTBank, shared insights about the bank’s 2025 performance, dividend strategy, foreign operations, and long-term outlook. As an investor or … Read more