The Central Bank of Nigeria (CBN) is the country's apex monetary authority, established by the CBN Act of 1958 and officially commencing operations on July 1, 1959
Grey secures CBN licence to process remittances into Nigeria
Grey has received approval from the Central Bank of Nigeria to operate as an international money transfer operator. The approval allows Grey to process inbound international transfers for individuals and businesses in Nigeria.
Banks must become ‘invisible’ to compete in digital finance
Banks must embed financial services into everyday transactions to compete with digital platforms. Daniel Awe emphasized that the future of banking lies in becoming invisible in customers' lives.
Six years after Stripe, Paystack is learning to keep money
Stripe acquired Paystack for $200 million in October 2020, marking the largest acquisition of a Nigerian startup. Paystack expanded its operations to several African countries, including Côte d’Ivoire, Ghana, Kenya, Nigeria, and South Africa.
Why Airtel Money’s $7bn IPO doesn’t include its Nigerian fintech business
Airtel Money will list on the London Stock Exchange without its Nigerian fintech business, SmartCash. A Central Bank of Nigeria directive required Airtel to transfer its 25% stake in SmartCash back to Airtel Networks Limited.
Nigeria’s central bank data localisation push is about more than local servers
The CBN directed banks and fintechs to store payment data generated in Nigeria locally by January 1, 2027. Nigeria processed over ₦1.2 quadrillion ($880.51 billion) in transactions in 2025, prompting the localisation move.
