Category: Financial Inclusion
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Intercontinental Apex Regulator’s Virtual Session
Fintech Association of Nigeria in furtherance of its Accelerate, Connect and Advocacy objectives is organising an intercontinental virtual session on Thursday, 25th June by 10 AM WAT/GMT+1. The event with the title – COVID-19: Enabling Speedy Business and Economic Recovery Through Regulation brings together heads of Regulatory agencies from Asia, Europe, Africa and Nigeria. The…
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COVID-19 & Financial Inclusion in Nigeria- The Good and The Not-So-Ugly
Onyeka Akpaida May 25, 2020 Like everyone else, no one envisioned the world would be at a standstill for 6 weeks+ talk less of experiencing a global pandemic; as is the custom of uninvited guests, COVID-19 decided to show up regardless. The economic disruption of this pandemic will largely come from ‘’aversion posture” taken by…
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Nigeria Needs to Close the Financial Inclusion Gap for Women Smallholder Farmers
Women smallholder farmers in Nigeria are involved in all aspects of agriculture. This ranges from producing food on farms to putting it on plates. They’re involved in planting crops, livestock production, harvesting, marketing and processing of farm produce as well as food preparation and family care. Yet, because they are women, they are held back by unequal access…
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Unity Bank Introuduces USSD Code in Nigeria Languages
Unity Bank’s Unstructured Supplementary Service Data (USSD) now communicates to the bank’s customers in Nigeria’s local language. The USSD code, which is one of many channels banks use to offer their services, is mainly in English, but Unity Bank has become the first to offer the service in Yoruba, Hausa, and Igbo. USSD is one…
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FirstBank’s Adesola Adeduntan joins industry leaders at Annual fintech, Insuretech summit in Bulgaria
The Chief Executive Officer, First Bank of Nigeria Limited, Dr. Adesola Adeduntan participated as a keynote speaker in the Annual FinTech & InsureTech Summit held at Sofia Event Center, Bulgaria on 27 February 2020. The FirstBank Chief delivered a keynote speech on the topic “Banks and Clients, the New Story of Empowerment, Value Creation and…
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Technology, digital records accelerating lending in Nigeria
Ife Ogunfuwa Experts in the financial technology industry have observed that banks, credit institutions, hedge funds, among others, are relying heavily on customer data to validate and approve loan requests. The stakeholders, who spoke at the Social Media Week Lagos 2020, noted that the rising demand for business, personal loans and other credit facilities could…
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Lower transaction costs as enabler for financial sector stability
Amechi Ogbonna A recent policy decision by the Central Bank of Nigeria (CBN) to cut charges on cash withdrawals from other banks’ Automated Teller Machines (ATM), from N65 to N35, and other services from January 2020, really stands out as one of the most pragmatic steps it had taken lately to soothe the pains of the…
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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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Interbank Operations Amongst Non-Interest Banks Will Improve The Alternative Finance Market
Interbank Operations amongst Non-Interest Banks (NIBs) will improve the activities of the alternative finance market in Nigeria. The MD/CEO of TAJ Bank Mr. Norfadelizan Abdul Rahman said this in an interview on the WebTV Islamic Finance Weekly programme. Speaking from the sidelines of the Sterling Bank-supported Non-Interest Finance Executive forum, the TAJ Bank MD described…
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Financial inclusion in West Africa gets boost with new $10m injection
Financial inclusion in West Africa got a boost with the injection of $10 million into the region’s operation. Specifically, the $10 million is a debt financing round, from HQ Financial Group (HQF), Singapore-based private company, which specialises in new material science, semiconductor and blockchain financial investments. Granted to a Nigerian fintech start-up, Aella, the debt financing…