Author: admin
-
Telecom infrastructure driving financial services – Danbatta
Ife Ogunfuwa The Executive Vice-Chairman and Chief Executive, Nigerian Communications Commission, Prof. Umar Danbatta, has said that telecommunications remained the best enabler in expanding the frontiers of financial inclusion in Nigeria. He said this at the NCC head office while receiving a team from the Bill and Melinda Gates Foundation and the foundation’s consultants, Glenbrooks…
-
Mobile payments rise 184% to reach N828bn
Financial transactions conducted by mobile money operators received a major boost in 2019 as the value of payments grew by 184 per cent from N292.02bn recorded in 2018. In 2019, the latest data obtained from the Nigerian Inter-Bank Settlement Scheme showed that N828.1bn worth of payments were executed by mobile money agents in the country.…
-
Electronic transactions can reduce financial losses from disasters-John Obaro
• As TSA processes N20trillion yearlyA FinTech expert has said the adoption of electronic transactions could have helped mitigate the losses suffered by traders across Nigeria, on account of recent fire incidences in various locations, especially in Lagos. In particular, such web businesses would have reduced not only the extent of physical properties and assets…
-
Financial Inclusion Agents Advocates Supports For Technological Integration
The Financial Inclusion Agents (FIA) in Nigeria on Tuesday, debunked the rumour that members cannot enjoy technological integration popularly called interoperability. A member of the FIA, a network of Shared Agent Network Expansion Facility (SANEF), Atanda Sharafadeen Fasasi, who spoke with LEADERSHIP in Abeokuta, the Ogun state capital said it would be a fallacy to…
-
Banks adopt promos to woo customers
Many banks have taken to promos to woo customers. One of them is United Bank for Africa (UBA), which Bumper Account promo raffle draw, has held in Lagos. During the event, over 100,000 of them won N100,000 each, with N2 million as the bigger prize. Fidelity bank PlC and Access Bank also held similar events.…
-
KPMG: FirstBank reinforces retail banking dominance, creates 150,000 indirect jobs
By Collins Nweze The unbanked and underbanked, two groups at the centre of retail banking, need to be captured for the financial system to achieve its full potential. The KPMG Nigeria Banking Industry Customer Experience Survey says customers have expectations about how their needs will be met and meeting this requires banks deploying the right…
-
NEXIM MD, Others Seek Quick Passage Of Nigerian Factory Bill
The Nigerian Export-Import Bank (NEXIM) says there is every need to expedite action on the passage of the Nigerian Factory Bill. The Bill seeks to amongst other objectives, promote Small and Medium-sized Enterprises (SMEs) development and also to serve as a strategic tool towards financial inclusion in trade services. Managing director of NEXIM Bank, Mr…
-
Bridging Infrastructural Gap, Key To Economic Revival
The managing director, Old Mutual Life Assurance, Segun Omosehin, said bridging the infrastructural deficit gap covering power, transportation and housing is critical to affecting the quality of economic growth and jobs creation. Speaking at the Business day 2020 Nigeria Economic Outlook Conference which held yesterday in Lagos, he said it will also enhance economic well-being…
-
Buhari: Nigeria Committed to Providing Enabling Business Environment
Omololu Ogunmade President Muhammadu Buhari yesterday in Abuja said the federal government was committed to providing an enabling environment for businesses in the country to thrive. This came as the telecoms’ giant, MTN, pledged to pump $1.6 billion into its Nigerian operations to strengthen its network. According to Buhari, partnerships between the public and private…
-
Agent Banking Footprint in Nigeria the future of Brick and Mortar Banking
Alexander Okafor works with Financial Inclusion Services an arm of Firstbank Ltd. What is an Agent Banking? Agent banking is a means of providing certain financial services to customers through the use of agents who usually are not banks but are appointed by financial institutions to carry out that business on their behalf. The underlying…