Category: Digital Banking
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NCC, NIPOST explore areas of collaboration -Target increased digital financial services.
The Nigerian Communications Commission (NCC) and the Nigerian Postal Services (NIPOST) have met to discuss key areas of collaborations between the two agencies towards strengthening delivery of their respective mandates and synergising to advance the digital economy agenda of the Federal Government. This was the highlight of deliberations during a courtesy by senior management officials…
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The Rise of Nigeria’s Invisible Bank
David Idoru: Head of Retail Banking, Standard Chartered Bank Nigeria. In a world of digital banking and with innovation and technology positioning itself as the future of payments, there are several opportunities for organisations to solve some of the world’s biggest challenges and enhance large scale productivity. Digital banking in Nigeria has evolved significantly and…
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THE POST: A VERITABLE PARTNER FOR FINANCIAL INCLUSION AND REGIONAL INTEGRATION
Recently, Nigeria joined 54 other member-states of the Pan African Postal Union (PAPU) to celebrate the pan African Post Day which also marked the 40th Anniversary of the Union established on 18th January, 1980 with its Headquarters at Arusha, in the United Republic of Tanzania. Pan African Post Day is used by authorities of the…
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Open Banking, CeBIH’s role and Nigeria’s e-payment growth
Open Banking is an initiative that is aimed at addressing the challenge confronting many bank customers, especially those with multiple bank accounts. For these customers, they would have to visit the branches of each bank, or use their different mobile apps before they can access or use their money in any of the different bank…
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Digital Banking Driving Financial Inclusion – Report
By Hamid Ayodeji Due to the increase in the number of Nigerians with access to mobile phones and the increasing internet penetration in Nigeria estimated at 56.4 per cent, the digital banking industry is currently experiencing significant growth with enormous opportunities more than ever before. This has encouraged several banks to take advantage of this…
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Report: Digital Banking Driving Financial Inclusion
Hamid Ayodeji Due to the increase in the number of Nigerians with access to mobile phones and the increasing internet penetration in Nigeria estimated at 56.4 per cent, the digital banking industry is currently experiencing significant growth with enormous opportunities more than ever before. This has encouraged several banks to take advantage of this opportunity…
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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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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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AFRICA Traditional Banks Charge Way Too Much Fees, But There Could Be A Solution
he bane of traditional bank charges is not new to many Nigerians and Africans. Aside from the hassle of visiting branches to get account updates and request for ATMs, the infrastructure itself has time and again proved porous. Bank accounts have been breached, and hackers have carted away with sums of customers’ money in situations…
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Nigeria lags in telecommunication and mobile money
Every month, Ifeyinwa Abel, the secretary of a Pentecostal church in Lagos, spends as much as a quarter of her salary sending money to pay for diabetes drugs to her mother 700km away in Abia Ohafia, a small agricultural village. It isn’t easy. First Abel, 35, has to go to a bank branch in Lagos,…