Banking

Banking

First Bank launches Digital Xperience Centre at UniBen

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First Bank of Nigeria is strategically expanding its digital ecosystem by launching a Digital Xperience Centre at the University of Benin, positioning it as a 24/7 community hub that merges banking, education, and technology. This initiative is framed not as a replacement for traditional branches or jobs, but as a necessary complement to reduce crowding and enhance customer control through secure, self-service terminals. Beyond transactional efficiency, the bank leverages this partnership to advance its commitment to financial inclusion and digital literacy within a key academic

Banking

CBN revokes operating licences of Aso savings, Union homes

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The Central Bank of Nigeria has revoked the licences of two major mortgage banks, Aso Savings and Union Homes, for severe regulatory failures including critical undercapitalization and insolvency. This decisive enforcement action underscores the CBN’s intensified focus on stabilizing the financial sector by compelling strict adherence to capital and compliance standards. The move signals a clear warning to all institutions that regulatory mandates, particularly those under BOFIA 2020, will be rigorously enforced to protect systemic integrity. Ultimately, this strategic purge aims

Banking

APWB advises Nigerians to verify transactions, avoid end-year scams

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A leading banking professional warns that festive periods see a sharp increase in digital fraud, urging the public to adopt critical defensive habits like verifying all transactions directly with their bank and never disclosing sensitive details. The core insight is that while institutions upgrade security, individual vigilance—particularly skepticism towards social media offers and unsolicited links—is the most practical defense against scammers who exploit haste and ignorance. Concurrently, her association is launching initiatives to empower female bankers and foster economic growth through financial sector mentorship programs.

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