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CBN Questions Regulation of Non-Bank 'Pay Small Small' Credit Schemes
The Central Bank of Nigeria (CBN) raises regulatory concerns over non-bank businesses offering instalment credit, highlighting challenges in consumer protection and the need for oversight in the growing embedded finance sector.
FCMB Group Delays Q3 2026 Financial Results Release to December 29
FCMB Group Plc has announced a delay in its Q3 2026 financial results, now expected by December 29, due to an ongoing audit of its largest subsidiary, First City Monument Bank Limited, which may significantly impact consolidated accounts.
SEC Commissioner Hester Peirce Resigns, Leaving Crypto Task Force Leadership
SEC Commissioner Hester Peirce, known as "Crypto Mom," has resigned effective October 2. She plans to join Regent University as an associate professor, leaving behind a significant legacy in crypto regulation.
Nigeria Infrastructure Debt Fund Initiates N45 Billion Capital Raise
The Nigeria Infrastructure Debt Fund has launched a N45 billion capital raise, offering 396.33 million units at N113.54 each, providing investors a chance to engage in local currency infrastructure financing.
African Alliance Insurance Secures Approval to Raise N12 Billion for Recapitalization
African Alliance Insurance Plc has received shareholder approval to raise up to N12 billion in fresh capital to strengthen its balance sheet and comply with regulatory requirements. The move follows a recent recovery from regulatory intervention.
SWOOT Stocks: Earnings Growth Must Catch Up to Valuations
Nigeria's SWOOT stocks have seen share prices surge, outpacing earnings growth significantly. Investors now face the challenge of whether these valuations can be sustained without corresponding profit increases.
CFTC Targets Cash FX in $950M Crypto-Linked Forex Fraud Case
The CFTC has filed a lawsuit against Cash FX and its executives, alleging a $950 million Ponzi scheme involving minimal forex trading and misappropriated funds. The case highlights ongoing regulatory efforts to combat fraud in the cryptocurrency sector.
Nigeria Falls to Third in Africa's Highest Interest Rates as CBN Cuts Rate
In September 2026, Nigeria's Central Bank reduced its benchmark interest rate to 23%, dropping the country to third place in Africa's highest monetary policy rates, behind Zimbabwe and Malawi.
Nigerian Equities Market Continues Winning Streak with 0.92% Gain
The Nigerian equities market saw a 0.92% rise in the NGX All-Share Index, closing at 252,113.41 points. Key sectors like oil & gas and banking drove the rally, with Critical Minerals Financing Corp leading gains at 59.80%.
Ex-CFTC Chief Summer Mersinger Resigns from Blockchain Association After Vote Setback
Summer Mersinger, former CFTC commissioner, will step down as CEO of the Blockchain Association following a failed vote on key legislation. Her departure marks a significant shift for the organization as it faces legislative challenges.
OG.com Seeks CFTC Approval for Single-Stock Perpetual Futures
OG.com is pursuing CFTC approval to offer perpetual futures on individual US stocks, joining other platforms like Coinbase and Kraken in this regulatory push to expand derivatives trading in equity markets.
Nigerian Equity Market Flat at N163.66 Trillion; Zichis Agro Leads Gains
The Nigerian Exchange Limited closed marginally lower at N163.66 trillion, with Zichis Agro leading the day's gains. Despite a slight decline, market breadth remained positive with 39 gainers outpacing 27 decliners.