Author: admin
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Why Buhari’s SIPs getting ministry status
The Presidency on Tuesday gave reasons why President Muhammadu Buhari’s Social Investment Programmes (SIPs) are getting full fledge ministry status. The SIPs have been under the office of Vice President Yemi Osinbajo since it started in 2016. President Buhari in his October 1st, 2019 Independence Day speech, announced the programmes movement to the Ministry of…
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Verve promises continued efficient payment solutions delivery
Verve Card has promised to continually improve financial inclusion across borders and make payments much more seamless and efficient. This promise was made in Lagos by Mitchell Elegbe, Founder/GMD, Interswitch Group, during a media parley on Friday, September 27, 2019, to mark Verve’s 10th year anniversary. The event, which held at the George Hotel, Ikoyi, Lagos,…
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The role of open banking in the Nigerian financial system
With the ever-evolving climate of the financial industry driven by rapid advances in technology, customer expectations, and new business models, there is a constant need to deliver services that push the envelope of traditional banking. The case made for financial inclusion by the Nigerian government has been a major factor that has encouraged innovation and…
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Abandoned NIPOST Offices in 774 LGs to Serve as CBN Microfinance Banks
Shola Oyeyipo in Abuja Abandoned offices of the Nigerian Postal Service (NIPOST) spread across the 774 local government areas in Nigeria will henceforth serve as microfinance banks operated by the Central Bank of Nigeria (CBN). This revelation was made at the weekend by Nigeria’s Post Master General, Mr. Bisi Adegbuyi, represented by NIPOST’s General Manager,…
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FirstBank to register 500,000 Agents on its Firstmonie Platform
With a view to enhancing financial inclusion across the country, First Bank of Nigeria Limited has announced its drive to get up to 500,000 operators onboard its agent banking platform. This was disclosed at the opening ceremony of the 12th Annual Conference of the Chartered Institute of Bankers of Nigeria (CIBN) by FirstBank’s Chief Executive Officer, Dr. Adesola Adeduntan, who also…
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Interswitch celebrates 10 years of deploring Verve as global payment solutions
Leading Indigenous payment solutions company, Interswitch Nigeria on Friday marked 10 years of deploring Verve cards as trusted payment solutions in Nigeria, Africa and across the globe.Speaking during the anniversary ceremony in Lagos, Group GMD/Founder, Interswich Nigeria, Mitchell Elegbe said the survival of the brand was as a result of hard work, resilience, learning, unlearning…
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Revolutionizing the West African Financial Sector with Finnovex
Over 63% of the population of West Africa is unbanked and has a high mobile usage of 83%, thus suggesting the scope of successful digital transformation of banking and fiscal operations to establish growth not only in technology usage but also in the banking customer base. The region is ripe for technological disruption and is…
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Financial Inclusion is key in lifting people out of poverty- VP. Prof Osinbajo
Vice President Prof. Yemi Osinbajo, has revealed that the Federal Government’s policies and programmes aimed at promoting financial inclusion remain key to the actualization of President Muhammadu Buhari’s promise of lifting millions of Nigerians out of poverty. Prof. Osinbajo stated this in Abuja on Tuesday at the opening session of the 2019 Annual Conference of…
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Steve Agbota Crowdyvest has launched PlentyWaka hassle-free bus, equipped with modern payment solutions, to drive financial inclusion in Lagos. The new transport system comes with business-style bus riding service, offering daily commuters the ability to move from point A to B in comfort, style and safety with a few taps on their mobile device in Lagos.…
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How SANEF drive financial inclusion through agent banking
The importance of financial inclusion is derived from the promise it holds as a tool for economic development, particularly in the areas of poverty reduction, employment generation, wealth creation and improving welfare and general standard of living. However, a survey conducted in Nigeria in 2008 by a development finance organisation, Enhancing Financial Innovation and Access…