32.2 C
Lagos, South Africa and New York
Monday, June 1, 2020
Home Financial inclusion

Financial inclusion

Financial inclusion: 2.6m Nigerians embrace financial services

Nigeria’s journey to bringing more people into the financial system is yielding positive results. The Central Bank of Nigeria (CBN’s) policies on mobile money, agency banking, Know Your Customer (KYC), insurance, and recently, Payment Service Banks (PSBs) expected to takeoff this year...

FirstBank partners Nigerian Army to deepen financial inclusion

By Saidu Adamu The Nigeria Army in conjunction with First Bank of Nigeria Limited on Tuesday launched “Agent Banking Scheme” for army personnel at the 20 Battalion Serti in Taraba. The Chief of Army Staff, Lt. Gen. Tukur Buratai explained that the aim...

Nigeria Loses N197 Billion to mobile money and financial services Fraud Annually – Osinbajo

By Emmanuel Elebeke Abuja — The Vice President, Prof. Yemi Osinbajo says Nigeria loses about N197 billion as cost of financial services fraud annually. The Vice President made the observation on Tuesday at the stakeholders forum on financial fraud using telecoms platform organised by the Nigerian...

Nigeria spur competition between banks telcos on cash deposits, mobile money transactions

By Yinka Ibukun and Emele Onu Regulator plans to allow grocers to take deposits, move cash Lending, however, will still only be available through banks Telecommunications firms, including MTN Group Ltd., are now interested in applying for licenses that will allow them to create units that...

Gains in Financial Inclusion, Gains for a Sustainable World

An MTN mobile money subscriber providing an electronic signature while having her identity verified through a mobile device in Abidjan, Côte d’Ivoire. © Nyani Quarmyne/IFC Mary Banda in Zambia runs a small restaurant in one of Lusaka’s oldest markets. Before she learned that financial...

Financial inclusion : Fidelity Bank doles out N16m to 13 customers

Fidelity Bank Plc on Tuesday splashed 13 customers with N16 million under the Get Alert in Millions Savings (GAIM) season three initiative. Mrs Chijioke Ugochukwu, the bank’s Executive Director, Shared Services and Product, stated this at the third monthly prize presentation in Lagos that...

African banks’ profitability should drive financial inclusion, bankers say

As banks in Africa consistently post healthy financial margins, the populations continue to grapple with financial exclusion, a phenomenon that may jeopardise the sustainability of financial services on the continent. This was deliberated by delegates at the AFRICA CEO FORUM, which takes place in Kigali...

Access Bank encourages teenagers to play, learn and save

For every young Nigerian, the teenage years arguably represent the most important stage in setting goals – education, career, family and clear plans for the future. As a result, Access Bank is paying attention to teenagers, by ensuring that they imbibe the right...

Tick Tock: Nigeria’s Tight Deadline Towards Financial Inclusion

How can we achieve so much in so little time? By 2020, Nigeria hopes to migrate about 18 million people into the formal financial services sector, driving up Nigeria’s financial inclusion estimate from 58.4% (as at 2016) to 80% of the adult population. The success of...

Polaris Bank deepens financial inclusion in Niger State

LAGOS: As part of commitment to ease access to banking services for more people, Polaris Bank has entered into a strategic partnership with the Niger State Government by ensuring participants in the supply value chain of the National Home-Grown School Feeding Programme (NHGSFP) can...