By Adedapo Adesanya

The Fintech Association of Nigeria has backed the recent slew of regulatory measures by the Central Bank of Nigeria (CBN), saying it will strengthen banking security, curb fraud and boost trust.

Mr Oluwaseun Adesanya, National Treasurer of the association, in an interview with the News Agency of Nigeria (NAN) in Lagos over the weekend, said the policies, including restricting banking applications to a single device, were designed to safeguard the financial ecosystem.

He said the regulator introduced the measures to improve security, protect customers and strengthen confidence in digital banking platforms.

Mr Adesanya, speaking on the sidelines of an induction and award ceremony organised by the Chartered Institute of Bankers of Nigeria (CIBN), said improved security will enhance convenience for customers and reinforce trust in financial institutions.

Mr Adesanya added the reforms would also help banks reduce losses from non-performing loans by strengthening credit facility frameworks.

“This will bring more sanity into the financial system and help banks avoid making provisions for loans that are no longer performing,” he said.

He noted that the regulatory initiatives were aimed at creating a safer environment for stakeholders across the financial services industry.

Last week, the CBN made some fresh regulatory moves aimed at strengthening the Nigerian banking ecosystem, including the announcement of new baseline standards requiring financial institutions to deploy automated anti-money laundering (AML) systems.

The new framework sets minimum standards for automated anti-money laundering solutions designed to strengthen the detection and reporting of financial crimes within Nigeria’s rapidly digitising financial ecosystem.

The CBN explained that the guidelines establish a baseline structure for financial institutions to deploy advanced monitoring tools capable of flagging suspicious financial activities instantly.

Also, it directed Nigerian banks to flag suspected fraud Bank Verification Numbers (BVNs) after a 24-hour watchlist from May 1, as well as updates on phone numbers linked to a BVN shall be allowed only once in a lifetime.

By Adedapo Adesanya

NOVA Bank Limited has announced the appointment of Jude Anele as its chief executive, following the approval of the Central Bank of Nigeria (CBN).

The appointment comes at a pivotal moment in the bank’s evolution, following its transition from merchant banking to commercial banking and the successful completion of its recapitalisation programme ahead of the March 31, 2026, regulatory deadline.

Mr Anele, according to a statement over the weekend, brings more than 33 years of banking experience across West and Central Africa, with deep expertise in retail/commercial banking, corporate banking, risk management, institutional transformation and executive leadership.

Over the course of his career, he has led complex banking operations, strengthened governance frameworks, delivered sustainable revenue growth and built high-performance teams.

The appointment reflects the board’s strategic commitment to consolidating NOVA Bank’s commercial banking platform while accelerating growth across its Corporate, Commercial and Retail segments, as well as priority markets.

Speaking on his appointment, Mr Anele said he was honoured to assume leadership of the Bank at a defining stage of its growth. “Nova Bank has built a strong institutional foundation defined by regulatory compliance, capital strength, disciplined governance and a clear commercial mandate.

“Our focus now is execution — deepening customer relationships, expanding responsibly across priority markets, strengthening risk discipline and delivering sustainable value to our shareholders,” he said.

On his part, the Bank’s Chairman, Mr Phillips Oduoza, also expressed confidence in the new leadership.

“The board is pleased to welcome Mr Jude Anele as Managing Director and Chief Executive Officer. His depth of experience, strategic clarity and proven leadership record align strongly with NOVA Bank’s growth ambitions,” Mr Oduoza said.

He added that with recapitalisation completed ahead of the regulatory timeline, the Bank is entering a new phase defined by scale, stability and structured expansion.

NOVA Bank also confirmed that it had met the recapitalisation requirements set by the CBN ahead of the regulatory deadline, reinforcing its capital adequacy and long-term financial stability.

The capital raise, supported by new and existing shareholders, further strengthens the Bank’s balance sheet and positions it for disciplined growth.

NOVA Bank currently maintains operations in Lagos, Abuja, Owerri and Port Harcourt, with plans to open eight additional branches across key commercial hubs in 2026 as part of its expansion strategy.

By Aduragbemi Omiyale

Nigerian lender, Zenith Bank Plc, is expanding its footprint in the United Kingdom, with the opening of a new branch in Manchester.

The launching of this branch is on Tuesday, March 17, 2026, with government officials from Nigeria and the United Kingdom, regulators, investors, customers, and business leaders from both countries expected to grace the occasion.

A statement from the bank said the new Manchester branch would complement Zenith Bank’s existing operations in the UK and serve as a strategic hub for supporting businesses engaged in international trade and investment.

Through the branch, the bank will provide corporate banking, trade finance, treasury and related financial services to clients operating across the United Kingdom, Europe and Africa.

Manchester, widely regarded as one of the United Kingdom’s most vibrant economic centres, hosts a diverse base of businesses across sectors such as manufacturing, engineering, logistics, technology and consumer goods.

The city’s strong commercial ecosystem and international outlook align closely with Zenith Bank’s expertise in corporate banking, structured finance and trade finance.

The Manchester branch will work closely with the company’s London operations and its broader international network to support clients seeking to expand across markets and unlock new opportunities in both the United Kingdom and Africa.

“The opening of our Manchester branch represents another important step in Zenith Bank’s growth as a leading African financial institution connecting businesses and markets across continents.

“Manchester is one of the United Kingdom’s most dynamic commercial centres, and our presence here will further strengthen financial connections between businesses in the UK and opportunities across Africa’s rapidly expanding markets,” the chief executive of Zenith Bank, Ms Adaora Umeoji, said.

Founded in 1990 by Mr Jim Ovia, Zenith Bank has grown into one of Africa’s most respected banking institutions, boasting a robust capital base and a remarkable history of year-on-year profitability.

Built on a strong foundation of people, technology and service, the lender has consistently delivered innovative financial solutions while maintaining a disciplined approach to growth and risk management.

Its impressive performance has consistently earned it excellent ratings, recognition and endorsement from local and international agencies and institutions.

Headquartered in Lagos, Nigeria, Zenith Bank operates over 500 branches and business offices across the 36 States of the Federation and the Federal Capital Territory (FCT).

The bank currently operates subsidiaries in several African countries, including Ghana, Sierra Leone, Gambia, and Cote d’Ivoire, while maintaining a presence in major international financial centres, including the United Kingdom, France, the UAE and China.