Mobile loan apps have driven a ₦1.22 trillion loan demand in Nigeria over the past year, highlighting the impact of digital lending on financial inclusion.

Nigeria experiences a 64% surge in Naira-based loan apps as citizens turn to digital solutions for quick and accessible credit, highlighting economic challenges and opportunities.

Nigerian fintech companies will be allowed to resume enrolling new customers in a few months, according to the Central Bank of Nigeria (CBN). The CBN had suspended new customer onboarding in April to address concerns about money laundering.

The National Identity Management Commission (NIMC) in Nigeria is making significant strides in its National Identity Number (NIN) enrollment drive. As of May 2024, over 107.3 million Nigerians have been captured in the national identity database. The NIMC is also working to expand capacity to enroll 250 million Nigerians and introducing a new multifunctional National ID Card that offers a variety of functionalities beyond just identification, including financial transactions, access to government services, and travel identification. 

Nigeria’s Federal Government has launched a new initiative to improve consumer credit and stimulate...

Nigerian banks have witnessed a surge in customer deposits this year, as the Central...

At the recent Grand Challenges Annual Meeting in Dakar, Senegal, sponsored by the Bill...