Author: admin
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West African Financial Sector embraces Digital Transformation and Innovation
Finnovex – West Africa 2019, commenced Under the Patronage of Central Bank of Nigeria 23nd October 2019, Lagos: The Finnovex West Africa, commenced yesterday at Lagos Continental Hotel, Under the Patronage of Central of Nigeria. Followed by the opening remarks from the Chair – Folashade B Femi-Lawal, Head, Card Business – FirstBank Nigeria, the Inaugural…
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NAICOM charges insurance companies to invest in technology for financial inclusion
By Rukayat Adeyemi Ogun – The National Insurance Commission (NAICOM) has charged insurance companies to invest in technology in order to effectively key into the financial inclusion target of the Federal Government. Mr Sunday Thomas, NAICOM Acting Chief Executive Officer, gave the charge at the 2019 Insurance Professional Forum organised by the Chartered Insurance Institute…
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FirstBank leads dialogue for inclusive growth in Fintech ecosystem
By Omobayo Azeez First Bank Nigeria Limited (FirstBank) has championed discourse in the financial services industry to promote inclusive growth in financial technology (Fintech) as it relates to small and medium enterprises (SMEs) in the ecosystem. ___________________________________________________________________ The bank further expressed this at the third edition of its annual Fintech Summit themed “Banking + Tech =…
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‘How agent banking will drive innovation, inclusion’
Experts have identified agent banking and Point of Sales (PoS) terminals as major enablers of last-mile access to formal financial services by the unbanked and under-banked population in Nigeria. Over the years, there have been concerted efforts by the Central Bank of Nigeria (CBN), deposit money banks, and other stakeholders in the industry to bring…
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Fintechs: Sure way to reach the unbanked
Chukwuemeka Fred Agbata Jnr.(CFA) Prior to the advent of commercial banking in Nigeria, people kept cowries, the medium of exchange that served as money back then, in their various houses, in sacks and other hidden places. Later, when the colonialists arrived, they brought with them the idea of establishing a monetary system, based on coins…
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CBN’s financial inclusion to focus on women, North
Nike Popoola The National Financial Inclusion Strategy being driven by the Central Bank of Nigeria will give more attention to women and the northern part of the country in the drive to achieve 20 per cent financial exclusion target by 2020. The Governor, Central Bank of Nigeria, Godwin Emefiele, disclosed this in the National Financial…
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BUSINESSZenith Bank Drives Convenient Banking And Financial Inclusion With Z-Money
Nigeria’s leading financial institution, Zenith Bank Plc, has introduced Z-Money, which brings banking services closer to its customers and enhance financial inclusion among the under-banked and unbanked populace of the country. Z-Money is an agency banking product of the bank which entails the onboarding of agents who are expected to render basic financial services on…
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Financial inclusion: Making millionaires of savers
Banks are making inroads into the financial services markets with products that encourage customers to save and win millions in gift and cash prizes. COLLINS NWEZE looks at the creativity lenders are bringing to the marketplace and how it has triggered a new push to achieve Central Bank of Nigeria (CBN’s) financial inclusion plan and…
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With Two PSB Licences, Telcos Set to Deepen CBN’s Financial Inclusion
Emma Okonji and Nosa Alekhuogie Fresh facts have emerged that two out of the three institutions the Central Bank of Nigeria (CBN) recently granted Approval-in-Principle (AIP) to commence operations as Payment Service Banks (PSBs) are owned by two of the leading telecommunications companies (telcos), THISDAY investigation has revealed. THISDAY gathered that with this development, telcos…
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Financial inclusion, savings culture key to growth – Nnamdi Okonkwo
The pursuit of financial inclusion as a national strategy to support the poor and small businesses, as well as instill a savings culture, has been described as key to growth of the economy. The Managing Director of Fidelity Bank Plc, Nnamdi Okonkwo, who made the observation, also said the success of the financial inclusion drive…