CBN LIMITS CARD ISSUING, MERCHANT ACQUIRING MARKET SHARE FOR FINANCIAL INSTITUTIONS. (PHOTO).

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 CBN limits card issuing, merchant acquiring market share for financial institutions The Central Bank of Nigeria (CBN) has introduced new measures aimed at curbing market concentration in the country’s payments ecosystem, including limits on the market share operators can hold across card issuing and merchant acquiring services. Card issuing refers to the provision of payment cards to customers, while merchant acquiring involves processing card payments on behalf of businesses. In a circular signed by Rakiya Yusuf, director of the payments system supervision department, on Monday, the apex bank said the measures are aimed at addressing concerns over market concentration, operational dependence, systemic importance and the localisation of payment transaction data. The CBN said rapid growth in electronic payments and digital financial services has increased the market presence of some operators, raising concerns about competition and resilience in the sector. “Accordingly, the CBN he...
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SULTAN DECLARES TUESDAY JUNE 16TH AS FIRST DAY OF MUHARRAM 1448AH; MARKING ISLAMIC NEW YEAR.(PHOTO).

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 Sultan Declares Tuesday June 16th  As First Day of Muharram 1448AH; Marking Islamic New Year


The Sultan of Sokoto and President-General, Nigeria Supreme Council for Islamic Affairs, Muhammad Sa'ad Abubakar


has declared Tuesday, 16th June, 2026 as the First Day of Muharram 1448AH, marking the beginning of the Islamic new Year.


The declaration was contained in a statement issued by the Chairman of the Advisory Committee on Religious Affairs of the Sultanate Council, Sokoto, Professor Sambo Wali Junaidu on Monday.

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