Category: Regulations
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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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Retrogressive policies hurting cashless system
CHUKWUEMEKA FRED AGBATA JNR. (CFA) Technology is not a fix-all thing, I must admit. However, I am extremely convinced that countries such as Nigeria battling the monster known as corruption needs technology in many ways. In the case of Nigeria, I can say for certain that the implementation of a number of technology-driven policies such…
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Sanusi Calls For Robust Regulatory and Legal Framework To Deepen Non-Interest Finance In Nigeria
The Emir of Kano HRH Muhammad Sanusi, II, CON has called for robust regulatory and legal framework to deepen non-interest finance in Nigeria. This, according to him, was an essential condition to the sustainable growth of alternative financing models in the country. He made this assertion as keynote speaker at the 4th African International Conference on…
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Reasoning together on CBN’s efforts to curtail voluminous cash
[FILES] Central Bank of Nigeria’s (CBN) governor Godwin EmefieleThe power of cash comes from the fact that it is tangible; this mystique is what ensures that a set of rectangular notes or circular coins can give effect to the laws of demand and supply. This character confers physical money with the overwhelming influence it possesses…
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Anticipated Gains of CBN’s Financial Inclusion Policy
Nkechi Ibe The overall objective of financial inclusion as stipulated in the 2018 Annual Report National Financial Inclusion Strategy (NFIS) Implementation is to bring the underserved segment of the population (unbanked population) into the formal financial system by providing them with access to financial services. The policymakers argue that an improved access to finance is…
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CBN and Cashless Policy
Jola-Michael Samson. T I smiled when I saw the CBN new cashless policy. The largest cash movement in volume happens within the population at the mid-bottom of the Pyramid. Until we understand the behavior and business activities of the people in the middle-bottom of the pyramid; cashless policy will be unfruitful. According to NDIC three…
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Perspectives: CBN and Cashless Policy
Jola-Michael Samson. T I smiled when I saw the CBN new cashless policy. The largest cash movement in volume happens within the population at the mid-bottom of the Pyramid. Until we understand the behavior and business activities of the people in the middle-bottom of the pyramid; cashless policy will be unfruitful. According to NDIC three…
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Firm Deepens Financial Inclusion through Digital Payment.
Xpress Payment Solutions Limited has disclosed that it is vigorously driving financial inclusion by taking financial services to the unbanked particularly the rural dwellers. The Managing Director/CEO, Xpress Payment Solutions Limited, Oluwadare Owolabi, stated this at the 19th annual Digital PayExpo conference and exhibition in Lagos. His presentation was titled, “Payment initiatives driving digital financial…
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CBN’s renewed drive for financial inclusion
The Central Bank of Nigeria says it plans to broaden access to financial services to people in under-served parts of the country over the next five years and its ultimate goal is to ensure that 95 per cent of eligible Nigerians have access to financial services by 2024. Olayinka David West; Academic Director and Professor…
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Financial Inclusion: CBN Sets Monthly Customer Target For MFBs .
The Central Bank of Nigeria has set a new target of 64 new customers for micro finance banks in Nigeria, as part of its efforts to achieve its financial inclusion target. The banking regulator stated this in a letter to all microfinance banks on the revised National Financial Inclusion targets on Tuesday. In a bid…