The Central Bank of Nigeria (CBN) has announced the revocation of operating licenses of two mortgage banks.

In a circular issued on Tuesday and signed by its Ag. Director, Corporate Communications Department, Hakama Ali, the apex Bank, noted that the move was part of its efforts to reposition the mortgage sub-sector and promote a culture of compliance with relevant laws and regulations.

It cited Section 12 of BOFIA 2020 and Section 7.3 of the Revised Guidelines for Mortgage Banks in Nigeria, which allows it to exercise its powers.

The affected banks are: Aso Savings and Loans Plc and Union Homes Savings and Loans Plc.

The CBN said, “The affected institutions had violated various Sections of BOFIA 2020 and the Revised Guidelines for Mortgage Banks in Nigeria, including: failure to meet the minimum paid-up share capital requirement for the category of the bank licence granted to them by the CBN, and having insufficient assets to meet their liabilities.

Other violated guidelines include being critically undercapitalised with a capital adequacy ratio below the prudential minimum ratio as prescribed by the CBN, and failure to comply with several directives and obligations imposed upon them by the CBN.

“The CBN remains committed to its core mandate of ensuring financial system stability”, the circular added.

The Corporate Affairs Commission (CAC) has threatened a fresh clampdown on unregistered Point of Sale (POS) operators in Nigeria from 1st January 2026.

The Commission said it observed a rising number of POS operators running without registration, violating CAMA 2020 and CBN Agent Banking Regulations.

In a statement on Saturday, the agency said all PoS must be duly registered with the commission or face immediate shutdown.

It warned that no POS operator will be allowed to operate without CAC registration, adding that security agencies will enforce nationwide compliance.

The statement further pointed out that this reckless practice, often enabled by some fintech companies, puts Nigeria’s financial system and citizens’ investments at risk, stressing that it must stop.

“Unregistered POS terminals will be seized or shut down by security officials.

“Fintechs enabling illegal operations will be placed on a watchlist and reported to the CBN. All operators are advised to regularize immediately. Compliance is mandatory,” the statement said.

Access Bank has been named Bank of the Year 2025 – Nigeria at the prestigious Banker Awards ceremony held in London on Wednesday, December 3, 2025.

Organised annually by The Banker, a publication of the Financial Times Group, the awards celebrate the best-performing financial institutions across more than 120 countries, recognising excellence in innovation, financial performance, operational resilience, and industry leadership.


The announcement was made during a high-profile gala at the Peninsula Hotel in London, where leading global banks gathered to celebrate outstanding achievements in the international financial services sector. Access Bank emerged as the sole winner for Nigeria, reflecting the Bank’s exceptional performance, disciplined execution of strategy, and continued commitment to delivering world-class banking experiences.

Speaking on the recognition, Roosevelt Ogbonna, Managing Director/CEO, Access Bank, said: “This award reflects the remarkable dedication of our people and the trust of our customers. Being recognised as Bank of the Year 2025 – Nigeria is a strong validation of our strategy to build a globally connected, digitally powered, and sustainably driven banking institution. We remain committed to delivering exceptional value across all our markets while contributing meaningfully to Africa’s economic advancement.”


Access Bank has continued to solidify its position as one of Africa’s most forward-thinking financial institutions, driven by innovation, customer-centricity, and strong corporate governance. The Bank’s strategic investments across digital transformation, trade finance, financial inclusion, and sustainable banking have positioned it as a leading force shaping Africa’s financial future. These initiatives, coupled with its disciplined approach to growth and operational excellence, continue to set Access Bank apart within the continent’s rapidly evolving financial landscape.

Each year, The Banker undertakes a rigorous, five-month evaluation process involving more than 1,000 applications submitted by banks worldwide. Only one bank is selected per country, underscoring the exclusivity and prestige of the award. Access Bank’s victory therefore represents not only a recognition of its achievements over the past year but also a reaffirmation of its long-term commitment to driving innovation, supporting customers, and enabling a more connected African and global economy.

With operations spanning three continents and a customer base of more than 60 million, Access Bank continues to demonstrate its capability and ambition to shape the future of banking in Africa and contribute meaningfully to global financial progress.