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At the just concluded Financial Inclusion Week Nigeria 2019 in Lagos Nigeria Mr. Taiwo Joda, the MD/CEO of Accion of Mfb has been awarded the Leadership award for the year 2019. The organizers of the event, Financial Inclusion Nigeria through one of its directors Mr. Mayowa Ajetunmobi presented the award. The award was in recoginistion…

Finnovex – West Africa 2019, commenced Under the Patronage of Central Bank of Nigeria 23nd October 2019, Lagos: The Finnovex West Africa, commenced yesterday at Lagos Continental Hotel, Under the Patronage of Central of Nigeria. Followed by the opening remarks from the Chair – Folashade B Femi-Lawal, Head, Card Business – FirstBank Nigeria, the Inaugural…

By Rukayat Adeyemi Ogun – The National Insurance Commission (NAICOM) has charged insurance companies to invest in technology in order to effectively key into the financial inclusion target of the Federal Government. Mr Sunday Thomas, NAICOM Acting Chief Executive Officer, gave the charge at the 2019 Insurance Professional Forum organised by the Chartered Insurance Institute…

By Omobayo Azeez First Bank Nigeria Limited (FirstBank) has championed discourse in the financial services industry to promote inclusive growth in financial technology (Fintech) as it relates to small and medium enterprises (SMEs) in the ecosystem. ___________________________________________________________________ The bank further expressed this at the third edition of its annual Fintech Summit themed “Banking + Tech =…

Non-interest banking is deepening its root in Nigeria’s financial cycle. Its acceptance has melted the initial skepticism, suspicion and religious phobia associated with the concept. Pioneered seven years ago (2012) by Jaiz Bank Plc, the genre of financial service has gained wider acceptance, with more finance institutions opening windows for non-interest banking product to cater…

hey’re everywhere, green and hard to miss. You’ve probably used one of their services or perhaps you haven’t. Not just yet. But you’ve heard of them and seen their billboards around town. OPay landed quietly in Nigeria in 2018 as a payments solution but has since gained name recognition with its ubiquitous bike-hailing service. What…

The importance of financial inclusion is derived from the promise it holds as a tool for economic development, particularly in the areas of poverty reduction, employment generation, wealth creation and improving welfare and general standard of living. However, a survey conducted in Nigeria in 2008 by a development finance organisation, Enhancing Financial Innovation and Access…

The Financial Inclusion State Steering Committee (FISSCO) in Anambra State has mapped out strategies aimed at achieving 80 percent adult financial inclusion in the state by 2020. Map of Anambra state, showing different LGAs The FISSCO members were drawn from commercial banks, microfinance banks, as well as representatives from ministries of Basic Education and Women…

The Central Bank of Nigeria has issued a series of new regulations and sanctions that will govern the use of electronic payments by deposit money banks, payment solution service providers, mobile money operators, and other financial institutions. Termed ‘Regulations on Electronic Payments and Collections for Public and Private Sectors in Nigeria’, CBN says the new regulation is a…

Similoluwa Bolaniran As an individual account holder, imagine the difficulty you may have had to encounter if you attempted to get a loan 5 years ago. The often rigorous conditions of providing all or a combination of your six months bank statement, letter of salary domiciliation, letter of employment/confirmation, confirmation of your terminal benefits, two…