Author: admin
-
Female agents may hold the key to close the gender gap in financial access in Nigeria
The global pursuit of financial inclusion as a vehicle for economic development has yielded a positive impact in Nigeria as the exclusion rate has reduced from 53.0 % in 2008 to 36.8% in 2018. Despite overall progress, the gender gap still remains. According to the EFInA, Access to Financial Services in Nigeria, 57% of women…
-
Recapitalisation’ll enhance corporate governance in MfBs — MD Advans MfB
Obinna Ukachukwu is the Managing Director, Advans La Fayette, Microfinance Bank, MfB, which recently opened its first branch in Lagos. In this interview, he spoke on the necessity for recapitalisation in the MfB sub-sector and why it took Advans La Fayette MfB, seven years before it opened its first Lagos branch. He also shares his…
-
Recapitalisation’ll enhance corporate governance in MfBs — MD Advans MfB
Obinna Ukachukwu is the Managing Director, Advans La Fayette, Microfinance Bank, MfB, which recently opened its first branch in Lagos. In this interview, he spoke on the necessity for recapitalisation in the MfB sub-sector and why it took Advans La Fayette MfB, seven years before it opened its first Lagos branch. He also shares his…
-
Stakeholders Explore Ways of Maximising Digital Banking Benefits
Chris Uba The fast growing electronic banking segment has equally thrown up major challenges in the system with its vulnerability to fraud estimated at $31 billion as at 2018. The development has put industry stakeholders, including financial experts in the country on their toes, as they rethink ways to retool the system to minimise these…
-
SystemSpecs: The indigenous technology company transforming the future of Nigeria
Business transformation is a hackneyed phrase in the corporate world, yet it holds sway over the longevity of brands. History is replete with tales of companies emphatically ascending to the zenith of their industries double-quick, due to their eccentricity but ultimately failing to sustain the momentum for various reasons. Most commonly attributed to their failures…
-
Mobile money war: Telecoms threaten banks’ future in Nigeria
Fakoyejo Olalekan The future of commercial banks is gradually slipping into the hands of telecommunication companies, and this doesn’t bode well for the Nigerian lenders, as the inroad into mobile money market by network providers is likely to make banks redundant soon. Before the entrance of the GSM firms in Nigeria’s telecommunication industry in 2001,…
-
Access Bank adopts agency banking to deepen financial inclusion
Helen OJi Access Bank Plc has introduced agency banking to deepen financial inclusion in Nigeria, to enable branches to focus more on complex customer obligations. A banking agent is defined as an authorised third party (a retail or postal outlet) contracted by a financial institution to process clients‘ transactions. The Head, Agency…
-
Interswitch, Paga Adopt Open Banking
Oluchi Chibuzor Interswitch, Africa’s integrated digital payment company and pioneer mobile payments firm, Paga, have joined other stakeholders in Nigeria’s financial services industry to adopt Open Banking to deepen financial services in the country. This, the companies said was aimed at driving innovation and choice for customers, businesses, financial technology firms, banks and other players…
-
Nigerian Women ‘Burning Their Breasts’ To Stay In Business
Banjo Damilola The scale of their business is hardly enough to secure a loan in any conventional banks. When the business is big enough, many of them are illiterate, unbanked and have no significant collateral. Iya Bisi, as she asks to be addressed, sits by the junction of Brown street at Oshodi, a popular Lagos…
-
German agency deepens financial literacy programme in Nigeria
To bridge financial inclusion gap in Nigeria, the German Government has restated commitment to deepening financial literacy across the country, to empower people with a set of skills and knowledge to enable them to make informed and effective decisions with their financial resources. The programme, captured in a Pro-Poor Growth and Promotion of Employment in…