Echotitbits – Nigeria News

Category: Banking

  • Regent MFB Says It Has Crossed ₦10bn in MSME Loan Disbursements

    Regent MFB Says It Has Crossed ₦10bn in MSME Loan Disbursements

    Photo Credit: The Punch
    2025-12-23 09:00:00

    From a brief by The Punch, Regent Microfinance Bank says it has passed the ₦10 billion mark in cumulative MSME loan disbursements, positioning the milestone as part of its push to close Nigeria’s credit gap for small businesses.

    The bank frames the milestone as evidence that structured micro-lending—paired with advisory support—can help small enterprises scale beyond survival mode, especially amid inflation and weak consumer demand.

    For MSME operators, the bigger story is access: whether such disbursements translate to broader geographic reach, fair pricing, and sustainable repayment terms that don’t trap businesses in rollover cycles.

    It also reflects a sector-wide narrative: microfinance banks competing for relevance by tying credit to digital onboarding, supply-chain partnerships, and specialised products for traders and light manufacturers.

    Validation: The Nation reports, “Regent Microfinance Bank (MfB) has disbursed over N10 billion in cumulative loans disbursements to… MSMEs.” In Regent MFB’s own messaging, the milestone is presented as impact-driven: “By reaching the N10bn mark in disbursements, the bank reinforces its role as a catalyst for productivity…”

    Echotitbits take: The next thing to watch is asset quality. If repayment performance stays strong, MSME credit can scale responsibly; if not, we’ll see tighter lending and higher effective borrowing costs.

    Source: The Punch — December 23, 2025 (https://punchng.com/regent-mfb-crosses-n10bn-msme-lending-milestone/)
    The Punch 2025-12-23

  • SEC Sets January Window for Market Operators to Renew Registration

    SEC Sets January Window for Market Operators to Renew Registration

    Photo Credit: Vanguard
    2025-12-23 09:00:00

    In a statement relayed by Vanguard, Nigeria’s Securities and Exchange Commission has directed capital market operators to renew their registration within January 2026, while also pushing digital upgrades to licensing and filings.

    The regulator says it wants the renewal process to be clearer, faster and less dependent on physical visits, as part of broader reforms to market oversight and investor confidence.

    SEC leadership is also signalling a bigger “automation” roadmap, including electronic receipt/processing and structured returns templates to strengthen risk-based supervision.

    For operators, the key practical impact is compliance readiness: documentation, timelines, and how quickly the new portal workflows become mandatory.

    Validation: The Nation reports that SEC “directed all capital market operators to renew their registration between January 1 and January 31, 2026.” Legit.ng reiterates that “The SEC has requested that capital market operators renew their registration between January 1 and January 31, 2026.”

    Echotitbits take: If SEC’s digitisation actually reduces approval delays, this could quietly improve market depth. Watch for enforcement consistency: the real test is whether non-compliance triggers penalties equally across big and small operators.

    Source: Vanguard — December 23, 2025 (https://www.vanguardngr.com/2025/12/sec-directs-market-operators-to-renew-registration-from-jan-1st/)
    Vanguard 2025-12-23

  • CBN tightens rules for foreign-card withdrawals as banks told to enable seamless use

    CBN tightens rules for foreign-card withdrawals as banks told to enable seamless use

    Photo Credit: The Punch
    2025-12-21 06:45:00

    Figures cited by The Nation show the Central Bank of Nigeria has directed banks and non-bank acquirers to configure ATMs, POS and virtual terminals to accept foreign-issued cards while applying stronger authentication above set thresholds.

    The circular instructs institutions to implement multi-factor authentication for foreign card withdrawals and online transactions above $200 per day, $500 per week, and $1,000 per month, and to maintain high system availability for smoother processing.

    Banks are also told to clearly disclose exchange rates and charges before completing transactions, and to strengthen transaction monitoring and KYC/AML controls for merchants handling foreign card payments.

    Premium Times reported the circular requires institutions to ensure terminals are configured to accept international cards and maintain availability to avoid failures, noting users should be shown terms before completion. Vanguard quoted the CBN directive: “implement multi-factor authentication for all withdrawals and online transactions exceeding $200 per day, $500 per week, and $1,000 per month.”

    Echotitbits take:
    For diaspora visitors and tourists, this could reduce declined transactions—if banks implement it cleanly. Watch for short-term disruption (higher declines during recalibration), plus how quickly institutions standardise FX rate disclosures and complaint-resolution timelines.

    Source: The Nation — December 21, 2025 (https://thenationonlineng.net/cbn-asks-banks-to-configure-atms-pos-terminals-for-foreign-card-transactions/)
    The Nation 2025-12-21

  • PenCom extends pension-operator recapitalisation deadline to June 2027

    PenCom extends pension-operator recapitalisation deadline to June 2027

    Photo Credit: Punch / File
    2025-12-19 14:00:00

    The Punch reports that PenCom has extended the timeline for pension operators (PFAs and PFCs) to meet revised minimum capital requirements, moving the compliance deadline further out.

    The extension is positioned as giving operators time to align with stricter capital rules intended to strengthen stability and protect contributors’ assets.

    Verification: Nairametrics reported the revised deadline is 30 June 2027, and PenCom’s circular sets out the revised regulatory capital requirement framework.

    Quotes: Nairametrics: “deadline is now set for 30 June 2027…” PenCom circular: “minimum capital requirement…”

    Analysis/Echotitbits take: Recapitalisation will likely trigger consolidation. Watch for M&A activity, enforcement consistency, and whether PenCom balances market discipline with systemic stability.

    Source: The Punch — 2025-12-19 — https://punchng.com/pencom-shifts-pension-recapitalisation-deadline-to-june-2027/

    The Punch 2025-12-19

  • World Bank moves to unlock $500m credit boost for Nigeria’s MSMEs

    World Bank moves to unlock $500m credit boost for Nigeria’s MSMEs

    Photo Credit: Punch / World Bank
    2025-12-18 09:00:00

    According to The Punch, the World Bank is moving to support Nigeria’s micro, small and medium businesses with a $500 million financing package aimed at widening access to credit and strengthening inclusive finance.

    The facility is framed around improving lending channels that actually reach MSMEs, especially where high interest rates and collateral hurdles keep firms outside formal credit.

    Verification: The World Bank’s project documentation describes objectives to “increase access to finance for micro, small and medium enterprises.” Business Insider Africa also reports an approved/advancing $500m package for MSMEs.

    Quotes: World Bank: “increase access to finance for micro, small and medium enterprises…” (documents.worldbank.org). Business Insider Africa: “approved a $500 million loan to Nigeria…”

    Analysis/Echotitbits take: MSMEs don’t just need money—they need cheaper, reachable money with clear pipelines. Watch the implementing institutions, eligibility rules, pricing, and whether funds reach real producers rather than being trapped in intermediaries.

    Source: The Punch — 2025-12-18 — https://punchng.com/world-bank-set-to-approve-500m-loan-to-support-nigerian-msmes/

    The Punch 2025-12-18

  • NDIC and NIBSS Team Up to Speed Up Depositor Payments After Bank Failures

    NDIC and NIBSS Team Up to Speed Up Depositor Payments After Bank Failures

    2025-12-18 00:00:00

    Punch reports that the Nigeria Deposit Insurance Corporation (NDIC) and the Nigeria Inter-Bank Settlement System (NIBSS) have entered a partnership aimed at improving how depositors of failed banks are identified and paid.

    The report says the collaboration targets faster verification and cleaner payment processes, reducing delays that often frustrate depositors after bank liquidations.

    Officials are positioning the move as part of wider financial-system stability efforts, especially as digital identity and payment rails deepen across Nigeria.

    The Guardian reported that the NDIC–NIBSS collaboration is designed to make liquidation payouts more efficient and transparent. (Guardian Nigeria)

    NAN also reported the partnership and said it would strengthen processes for paying insured depositors of failed institutions. (NAN)

    Analysis/Echotitbits take: Faster payouts improve trust in the banking system and reduce panic during stress events. Watch whether NDIC publishes clearer payout timelines, integrates BVN/NIN-linked verification more deeply, and expands outreach so rural depositors can access claims easily.

    Source: Punch — December 18, 2025 (https://punchng.com/ndic-nibss-to-strengthen-failed-banks-depositor-payouts/)

    Photo credit: Daily Post Nigeria

  • Debt Service and Salaries Outstrip Federal Revenue in 2025 Budget Data

    Debt Service and Salaries Outstrip Federal Revenue in 2025 Budget Data

    2025-12-18 00:00:00

    According to Punch, official budget documents show that debt service and personnel costs consumed more than the Federal Government’s total revenue in the first seven months of 2025, underscoring the pressure on fiscal space.

    The report says earnings came in well below pro-rata targets, forcing deep cuts to capital spending and tightening the room for new projects without additional borrowing or revenue reforms.

    The figures add weight to growing concerns about budget credibility, cash-backing of appropriations, and the need for stronger domestic revenue mobilisation.

    BusinessDay reported that “debt servicing and personnel costs consumed more than the Federal Government’s entire revenue” for the period, citing official budget documents. (BusinessDay)

    Another report on the same figures said Nigeria earned far below targets between January and July and that the gap hit capital releases hard. (Legit.ng)

    Analysis/Echotitbits take: When “fixed” obligations swallow revenue, the real economy suffers via delayed infrastructure and weak service delivery. Watch for 2026 revenue measures, credible subsidy/accounting reforms, and how government aligns spending plans with cash realities.

    Source: Punch — December 18, 2025 (https://punchng.com/salaries-debt-service-gulp-105-of-govt-revenue/)

    Photo credit: Punch

  • PenCom: ₦577bn Now Credited to Retirees and Contributors After FG Clears Pension Liabilities

    PenCom: ₦577bn Now Credited to Retirees and Contributors After FG Clears Pension Liabilities

    Photo Credit : THE NATION

    2025-12-17

    Speaking at a pension reform scorecard event, PenCom’s DG Omolola Oloworaran says about ₦577 billion has been credited to retirees and contributors after the Federal Government released funds to address legacy pension liabilities, *The Nation* reports.

    The breakdown includes payouts tied to pension increases, accrued rights, and contribution shortfalls—an intervention designed to reduce long-standing backlogs and improve confidence in the contributory pension framework.

    For retirees, the practical impact is immediate: arrears paid, monthly payments boosted, and fewer delays—though questions remain about sustainability and future funding discipline.

    Other reporting on the same development includes:
    – TheCable: “In total, ₦577.5bn has already hit the RSAs of retirees and contributors, impacting over 1.05 million accounts.”
    – BusinessDay: “Stakeholders say clearing liabilities is key to restoring trust in the pension system.”

    Analysis/Echotitbits take: This is a rare “delivery” moment in public finance, but it also sets a standard. Watch whether contribution remittances stay current (especially MDAs), and whether PenCom’s enforcement tools meaningfully reduce future pension arrears.

     

     

  • UBA Rolls Out ₦100m Vehicle Financing Scheme to Support Lagos Ride-Hailing and Commercial Drivers

    UBA Rolls Out ₦100m Vehicle Financing Scheme to Support Lagos Ride-Hailing and Commercial Drivers

    Photo Credit: Punch

    2025-12-17

    As reported by *The Punch*, UBA has unveiled a ₦100 million vehicle support/financing scheme in Lagos aimed at helping qualifying drivers access vehicles under structured repayment terms.

    The programme is positioned as a mobility and financial inclusion play—lowering entry barriers for commercial drivers while giving the bank a scalable consumer-credit product tied to income-generating assets.

    For participants, the big variables are affordability (interest, fees, insurance), vehicle quality, and the clarity of default rules—issues that have derailed similar schemes in the past.

    Other reporting on the same development includes:
    – BusinessDay: “Banks are expanding asset-backed lending as consumer credit demand grows.”
    – Nairametrics: “Driver-focused vehicle financing is returning as platforms seek more stable fleets.”

    Analysis/Echotitbits take: If the underwriting is data-driven (earnings history, telematics, repayments automation), this could be a model for MSME credit. Watch adoption rates, default performance, and whether other banks replicate it across other states.

    Source: The Punch — December 17, 2025 (https://punchng.com/drivers-benefit-from-ubas-100m-lagos-vehicle-scheme/)

  • FirstBank reopens refurbished basketball arena at Ikeja Army cantonment

    FirstBank reopens refurbished basketball arena at Ikeja Army cantonment

    2025-12-15 00:31:00

    According to The Punch, FirstBank has reopened a renovated Basketball & Games Arena at the Nigerian Army 9 Brigade Cantonment in Ikeja, Lagos, following a facelift.

    The report says the facility was inaugurated with senior military participation and positions the upgrade as part of sports development and community engagement.

    Bank-funded sports infrastructure typically falls under CSR, with brands seeking long-term visibility and youth engagement outcomes.

    Analysis/Echotitbits take: CSR projects matter most when they’re sustained—equipment, coaching programmes, and open access rules. Watch for how the facility is managed, who can use it, and whether it becomes a hub for grassroots leagues.

    Source: The Punch — December 15, 2025 — https://x.com/FirstBankngr/status/1999809090315268597

    Photo credit: At FirstBank, our commitment goes beyond banking, it is about supporting people including the people
    X-twitter https://x.com/FirstBankngr/status/1999809090315268597 December 15, 2025