Category Archives: Nigeria

Mobile banking: Why we did not licence MTN, others – CBN

February 20, 2012   Editor   2 Comments
Nigeria Flag

Babatunde Oso Moment Newspaper NOTWITHSTANDING the fact that telecom companies have notched about 100 million subscribers, financial sector regulator, the Central Bank of Nigeria (CBN), has refused to license them to operate mobile money services in the country. NOTWITHSTANDING the fact that telecom companies have notched about 100 million subscribers, financial sector regulator, the Central

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AIRTEL AND FIRSTBANK SIGN MOU ON MOBILE MONEY SERVICE

February 19, 2012   Emmanuel Okoegwale   No comments
AIRTEL

The landscape of e-banking services in Nigeria is set to witness a major shift as two leading companies in banking and telecom sectors of the economy, FirstBank of Nigeria Plc (FirstBank) and Airtel Networks Limited have agreed to combine their strengths to provide seamless mobile money services to millions of Nigerians. Speaking at the signing

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Unity Bank launches QikQik mobile payments

February 17, 2012   Editor   No comments
Nigeria Flag

BiztechAfrica Nigeria’s Unity Bank has launched a mobile payment service that is expected to create hundreds of jobs. The new UnityBank QikQik mobile-based payments will include QikQik kiosks in all the 774 local government councils in the country to deliver financial services to previously excluded segments of the population, the bank’s Group Managing Director, Alhaji

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Africa: Financial Exclusion – Nigeria Lags Behind Kenya, Bostwana, South Africa

February 09, 2012   Editor   1 Comment
Nigerian Flag

SUNDAY WILLIAMS DAILY TRUST The Central Bank of Nigeria (CBN) has said that 46.3 percent of Nigeria’s population is still financially excluded compared to South Africa, Kenya and Bostwana with 26.0 per cent, 32.7 per cent and 33.0 per cent, respectively. The CBN Governor Sanusi Lamido Sanusi made the remarks yesterday in Abuja at the

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UBA:Nigeria ‘ll Achieve Vision 20:2020 with Cash-lite.

January 26, 2012   Editor   1 Comment
UBA

ThisDay Last year, Central Bank of Nigeria (CBN) introduced cash-lite economy, aimed at reducing the volume of cash in circulation. With the kick-off of its pilot scheme in Lagos on January 1, 2012, the few banks licensed by CBN have commenced the use of alternative e-banking channels that will boost online financial transactions. Emma Okonji

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Nigeria: Airtel Expands Airtime Top-Up Service to More Countries

January 16, 2012   Editor   No comments
Airtel

Airtel Nigeria says it has expanded its network of locations and platforms where international airtime top up service can be done across the world, with the appointment of three major international top up firms as partners. With the alliance, it said, Nigerians and others who reside in the United Kingdom, United States of America, Australia,

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Paga partners Mastercard, Interswitch on money transfer solution

January 16, 2012   Editor   No comments
Nigerian Flag

One of the mobile money service providers licensed by the Central Bank of Nigeria, Paga, has entered into a partnership with MasterCard and Interswitch. The company said on Monday that it had unveiled a new way for customers to transfer money to any Nigerian by using any MasterCard, Verve or Interswitch debit cards. With the

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Cashless Lagos underway in Nigeria

January 06, 2012   Editor   2 Comments
Nigerian Flag

The Central Bank of Nigeria’s Cashless Lagos pilot project has begun in the former capital, aimed at reducing the amount of physical cash in circulation and increasing electronic commerce. The Bank’s pilot project, which kicked off on 1 January, will impose a cash handling charge on cash withdrawals or deposits exceeding N150,000 for individuals and

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eTransact targets N952 million turnover in Q1 2012

December 15, 2011   Editor   1 Comment

BIODUN COKER eTransact has released its second quarter forecast result for Q1 2012, to the Nigerian stock exchange showing that the company expects N952 million turnover in its second quarter (Q1)2012 , and profit before tax of N184 million, just as it targets N125 million. The latest figures of eTranzact made available to Business Day

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Globacom partners UBA, Stanbic on service roll-out

December 15, 2011   Editor   2 Comments
Glo

Adline Atili In line with the Central Bank of Nigeria’s (CBN) policy of driving financial inclusion and to promote the ‘cash-lite’ payment system, United Bank for Africa, (UBA) and Stanbic IBTC Bank are partnering with Globacom to offer mobile payment (m-payment) services on the Glo network. At a briefing yesterday in Lagos, the companies said

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