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
Category Archives: Nigeria
UBA:Nigeria ‘ll Achieve Vision 20:2020 with Cash-lite.
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
Nigeria: Airtel Expands Airtime Top-Up Service to More Countries
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,
Paga partners Mastercard, Interswitch on money transfer solution
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
Cashless Lagos underway in Nigeria
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
eTransact targets N952 million turnover in Q1 2012
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
Globacom partners UBA, Stanbic on service roll-out
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
Fortis Mobile Money signs MoU with NAMBLAG
AMAKA ABAYOMI In its efforts to ensure that more Nigerians have easy and reliable access to finance and foster financial inclusion, the National Association of Microfinance Banks, Lagos State chapter (NAMBLAG) has signed a Memorandum of Understanding (MoU) with Fortis Mobile Money, a mobile money operator licenced by the Central Bank of Nigeria (CBN) to
MTN selects Fortis for mobilemoney service in Nigeria
Africa’s. Leading mobile network provider MTN,has signed a memorandum of understanding with Fortis mobile money, a recently licensed mobile financial services provider in Nigeria. With the partnership, fortis mobile money can now available to every subscriber across different device types on Nigeria’s largest mobile network, MTN. The mobile network is active in 21 countries in
Nigeria: Locals Abroad Remit Over $10 Billion Home in 2011
Laolu Akande The Moment NIGERIA has topped the chart again in the 2011 estimated remittance flows to Africa from abroad according to the updated World Bank estimated data for the year released recently which puts the total remittance flows to Nigeria at $10.6b, Empowered Newswire reports. A World Bank statement noted that all remittance flows
