: A new directive bars commercial banks from providing fresh loans or specific banking services to "large-ticket obligors" who have defaulted on existing obligations.
: Starting May 1, 2026, the cost of issuing or replacing ATM cards will increase to ₦1,500 , though card maintenance charges on naira-denominated cards are being removed.
: Mobile banking apps will be limited to one device at a time; logging in on a new device will automatically deactivate the previous one. Nigeria’s Central Bank Doubles Down on Plans to...
: Transactions on newly activated devices are capped at ₦20,000 for the first 24 hours.
: Gross foreign reserves have reached a 13-year high of $50 billion , providing a significant buffer against global economic shocks. 2. Strict Crackdown on Loan Defaulters : A new directive bars commercial banks from
: Under a bold proposal issued in mid-April 2026, creditors and borrowers in collateral-backed loan disputes must first submit to a Mediation and Dispute Resolution Panel before approaching the courts to reduce legal congestion.
: Electronic transfers of ₦5,000 and below will attract no charge under a revised Guide to Charges. : Transactions on newly activated devices are capped
: Effective May 1, 2026, all diaspora remittances to Nigeria must be paid exclusively in naira to boost official market liquidity.