Nigeria

Nigerian Mobile money at five: Still teething?

JULY 252014 CHIJIOKE NELSON GUARDIAN NEWSPAPER Just five years after the Regulatory Framework for Mobile Payment Services by the Central Bank of Nigeria CBN came in force mobile moneyagent banking also known as digital finance is yet to takeoff effectively in NigeriaCHIJIOKE NELSON presents issues raised by a new report A REPORT recently found that only 001 per cent of Nigerians has mobile money accountBut critics were also quick to note that regulation in the country prohibits telecommunications from taking the lead in the roll out of digital finance as obtainable in other parts of the continent alleging that the lack of progress...[...read more]

Filed Under Nigeria

NIGERIA: e-Wallet: NAIC Commences Training of Farmers

JULY 232014 THISDAY The Managing Director of the Nigerian Agricultural Insurance Corporation NAIC Mr Bode Opadokun said the corporation has commenced sensitisation of farmers in preparation for the take off of the eWallet a platform on which the Federal Government hopes to provide professional risks mitigation services to small farmers across the country He said the corporation was set to testrun the programme in two states to identify pitfalls and areas where the strategy needed to be finetuned before extended it to farmers across the federation Speaking to THISDAY in Abuja recently Opadokun confirmed that the premium for the cov...[...read more]

Filed Under Nigeria

Nigeria:E-Commerce Gets Boost as FirstBank Partners PayPal

JULY 232014 THISDAY FirstBank of Nigeria Limited has gone into partnership with PayPal an international ecommerce payment and money transfer platform to boost online transactions PayPal which is an easy and fast way to make online purchases in over 203 markets worldwide announced its partnership with FirstBank yesterday in Lagos Speaking at an event to announce the partnership the Regional Director for subSaharan Africa PayPal Mr Efi Dahan said the move would positively impact ecommerce in the country When I joined PayPal three years ago I recognised that this Nigeria was the market to tap in and did all the investments and preparati...[...read more]

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Nigeria:NHIS, MTN, others launch health insurance service

JULY 212014 DAILY INDEPENDENCE The NigerianNational Health Insurance Scheme NHIS MTN and Salt Einstein MTS the Mobile insurance services aggregator recently announced a strategic partnership to launch a mobile based universal health insurance service known as Yello Health This service will provide Nigerians affordable health insurance cover on a prepaid basis Through the Yello Health mobile subscribers are able to opt into a micro healthcare insurance scheme through Health Management Organizations HMOs using their mobile phones for a range of predefined medical treatments for which affordable premium can also be remitted through the sub...[...read more]

Filed Under Nigeria

Nigeria: Activ-Edge, SAP Partner for Mobile Money Offering

JULY 132014 CAJNEWS ACTIVEDGE a Nigerian technology firm has entered into a partnership with SAP Africa to provide mobile payment services to local clients The deal will culminate in ActivEdge Technologies offering key SAP solution such as SAP Mobile Banking SAP Mobile Inclusive Banking SAP Mobile Consumer Payments SAP Mobile Remittance SAP Mobile TopUp and SAP Mobile Payments Richard Edet SAP West Africa Managing Director said the partnership would help his company to further penetrate the thriving financial services space in West Africa SAP intends to become the platform of choice in mobile commerce banking and a trusted advisor ...[...read more]

Filed Under Nigeria

Nigeria: FCMB commences Agent Banking

JULY 142014 THISDAY As part of efforts to encourage the huge number of unbanked and underbanked Nigerians living in rural communities First City Monument Bank FCMB has launched an agent banking system in Otta Ogun state This was done collaboration with Kuntel Pharmacy Agent banking which is aimed at promoting financial inclusion is to provide banking services to the people in Otta through point of sale POS terminals that enables customers open account instantly and obtain an ATM card as well as to deposit their money Speaking at the event held in Otta the Executive Director Lagos and South West Region FCMB Mr Olufemi Bakre said the ini...[...read more]

Filed Under Nigeria

Biometric registration of bank customers begins in Lagos

JULY 092014 PUNCH The Central Bank of Nigeria has announced the commencement of biometric registration of bank customers in Lagos As a result bank customers in the state will be issued a unique identification number called Bank Verification Number A statement quoted the Managing Director Nigeria Interbank Settlement System Mr Ade Shonubi who is also the Head of the BVN Project Management team as saying This exercise has started in selected bank branches in Lagos This is the first phase of the countrywide rollout Already banks headquarters servers have been configured deployed and tested and their staff members have been trained in prepa...[...read more]

Filed Under Nigeria

Capital, Infrastructure Bane of Mobile Payment In Nigeria

JUNE 232014 LEADERSHIP Newspaper Inadequate capital and the poor infrastructure facility have been identified as some of the challenges of mobile money operators in the country This was made known by the director Banking and Payments System Department of the Central Bank of Nigeria CBN Dipo Fatokun Fatokun while speaking on Issues and Challenges of Implementing Mobile Payment Services in Nigeria at a round table discussion organized by the Nigeria Deposit Insurance Corporation NDIC noted that many of the mobile money operators have now discovered that they need more funding than they initially forecasted According to him the mobile mo...[...read more]

Filed Under Nigeria

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