The Central Bank of Nigeria (CBN) has debunked a new report in circulation suggesting that the bank has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025.

The CBN, through its Acting Director of the Corporate Communications Department, Mrs. Hakama Sidi Ali, described the information as false, and misleading, and stated that it should be disregarded.

According to her, the bank has not granted any such extension beyond the previously communicated deadline of June 3, 2025.

She consequently urged the general public, journalists, media platforms, and all stakeholders to consistently verify the information directly from official CBN sources, such as the Bank’s website and authorised communication channels, before publishing or sharing news about the Bank and its regulatory directives.

The CBN remains committed to ensuring transparency, stability, and compliance in the foreign exchange market and will continue to engage with all relevant stakeholders in accordance with its statutory mandate,” Sidi Ali noted.

She also said as part of the revised framework introduced in February 2024, BDCs were required to meet new minimum capital requirements — ₦2 billion for tier-one and ₦500 million for tier-two operators.

Access Bank Plc and KCB Group Plc have officially announced the completion of the sale of National Bank of Kenya Limited to Access Bank Plc, marking the conclusion of a transaction initiated in March 2024.

The acquisition, according to Access Bank’s statement on Friday, followed the receipt of all necessary regulatory approvals, solidifying the bank’s strategic expansion in the East African financial market.

With the finalisation of the deal, NBK, previously 100% owned by KCB Group, is now a wholly-owned subsidiary of Access Bank Plc. While the legal transaction is complete, NBK and Access Bank Kenya will continue to operate independently for an interim period as both institutions embark on a comprehensive integration process.

L-R: The Executive Director, African Subsidiaries, Access Bank Plc, Seyi Kumapayi, and Director of Finance, KCB Group, Lawrence Kimathi, during the signing ceremony to mark the completion of the sale of National Bank of Kenya to Access Bank Plc in Nairobi on Friday, May 30, 2025. | Credit: Access Bank Plc

Commenting on the successful completion, the Managing Director/Chief Executive Officer of Access Bank Plc, Roosevelt Ogbonna, expressed enthusiasm for the future.

He said, “Finalising this acquisition marks a significant step in our drive towards unlocking the vast potential of East Africa’s financial landscape. Kenya stands at the heart of regional commerce, and with NBK now part of the Access Bank family, we are better positioned to leverage our combined strengths to deliver high-impact banking solutions to individuals, businesses, and government institutions alike.”

“NBK’s heritage and local expertise, combined with our pan-African network and innovation-led approach, will enable us to serve as a stronger catalyst for economic growth.” He reiterated Access Bank’s ambition “to be the bridge that connects African businesses to global markets, fuel intra-African trade, and drive inclusive prosperity.”

The Chief Executive Officer, KCB Group, Paul Russo, noted that the transaction signifies a key milestone in creating and delivering value for their shareholders.

He assured that KCB Group would collaborate closely with Access Bank to ensure a smooth handover and operational transition, including the finalisation of system transfers and governance functions in line with regulatory guidelines.

Similarly, the Managing Director of NBK, George Odhiambo, also welcomed the integration, emphasising NBK’s legacy in serving Kenya’s public sector.

He stated that Access Bank’s expertise across corporate, retail, and digital banking, coupled with its strong public sector focus, will allow NBK to serve customers more comprehensively and expand its reach.

During this transition, the bank said customers will continue to access services through their existing banking channels with either NBK or Access Bank Kenya.

…Customers can now stay connected without interruption

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has launched a new feature called Advance Top-Up on its USSD banking platform *919#, which is designed to provide instant access to airtime and data for its customers especially when they are out of call credit or disconnected from the internet.

The new feature, which can be accessed through *919*9#, was unveiled at the UBA head office in Marina on Thursday, allowing customers to borrow airtime or data directly from their mobile devices, offering a fast, dependable solution.

UBA’s Group Head, Retail and Digital Banking, Shamsideen Fashola, who spoke during the official launch, described the feature as a timely addition to the bank’s digital offerings and a testament to its customer-first approach.

“At UBA, we are constantly looking for ways to make banking and everyday services more accessible for our customers. With the launch of Advance Top-Up on our USSD platform, *919*9#, we are giving our customers the power to stay connected without interruption, regardless of time, location, or airtime balance,” Shamsideen said.

UBA’s Advance Top-Up which is now live on *919*9#, joins a wide range of services on the platform, which include airtime and data purchases, money transfers to UBA and other banks, account balance checks, card blocking and freezing, online transaction controls, bill payments, and more.

L-R: Group Head, Retail and Digital Banking, United Bank for Africa (UBA), Shamsideen Fashola; Team Lead, USSD and SMS Banking, United Bank for Africa (UBA), Eva Iseh-Akhigbe, and Head, Digital Banking, United Bank for Africa (UBA), Olukayode Olubiyi during the official launch of the Advance Top-Up feature on *919# at the bank’s corporate head office, in Marina recently

Fashola emphasised the simplicity and convenience of the solution, adding that “You don’t need to download an app or visit a data centre. Just dial *919*9#, follow the prompt, and you’re immediately connected. It’s simple, fast, and reliable.”

The Bank’s Group Head, Marketing and Corporate Communication, Alero Ladipo, added that the feature was developed based on real feedback from customers and their evolving needs.

“Our users asked for a way to stay connected when they have no airtime, and as always, we have come up with a quick solution, right there on their phones, instantly, with no fuss, and no need for internet connectivity. Whether for emergency communications or business continuity, *919*9# puts instant connectivity in every customer’s hands,” she explained.

She explained that only recently, the bank unveiled its newly improved Point of Sale (POS) Terminal as well as the UBA MONI App to redefine the digital payment landscape and empower small and Medium Scale Enterprises across Africa.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.