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Financial inclusion

Nigeria savings accounts surge on banks financial inclusion drive

As Savings account grows by 16% to 87m Experts project further growth By Elizabeth Adegbesan The new bank accounts comprise 12.2 million savings accounts and 2.6 million current accounts. Meanwhile, experts have projected further growth citing the Shared Agent Network Expansion...

Financial Inclusion: CBN orders MfB branches to acquire 64 new customers per month

The Central Bank of Nigeria, CBN, has announced a financial inclusion target of 64 new customers per month for each branch of Microfinance Banks, MfBs, in the country. The target followed a series of meeting between the CBN and MfB operators on the contributions...

CBN Tasks Fintechs on Financial Inclusion

The Deputy Governor, Financial System Stability, Central Bank of Nigeria, Mrs. Aishah Ahmad, yesterday charged financial technology companies (fintechs) to contribute in the drive to enhance financial inclusion in the country. This is just as the Managing Director, Ecobank Nigeria Limited, Mr. Patrick Akinwuntan, has...

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...

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...

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...

Stanbic IBTC reinforces financing advisory, stockbroking, trusteeship credentials in acquisition of Forte Oil shares

Press Release Monday, July 8,2019 As a testament to its extensive credentials as Nigeria’s leading end-to-end financial services organization, Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has leveraged its deep financial services knowledge and expertise in successfully supporting the acquisition of a majority...

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...

Global transactions get easier with FirstBank’s card offering

By EHIME ALEX As in many developing countries, cash has been the most prevalent mode of payment in Nigeria until 2012 when the Central Bank of Nigeria (CBN) introduced the cashless policy with the aim of promoting the use of electronic payment channels instead of...

Nigeria: First Bank Targets 500,000 Agents to Boost Financial Inclusion

With a view to enhance financial inclusion across the country, First Bank of Nigeria Limited has announced its drive to get up to 500,000 operators on board its agent banking platform. This was disclosed at the opening ceremony of the 12th Annual Conference...
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