The African Development Bank (AfDB) Group, has said that its financial sector portfolio in Nigeria is currently valued at $1.3 billion of which the figure represents 30% of the bank’s portfolio. This was made known by the Director-General, Nigeria Country department of AFDB, Mr. Kanin Barrow on Monday in Abuja …
Read More »CBN Unveils Guidelines to Expand, Address Gaps in Digital Financial Services
The Central Bank of Nigeria has developed the digital financial services awareness guidelines to address gaps in consumer knowledge and practices with Digital Financial Services. It disclosed this in a report titled ‘Digital financial services awareness guidelines’ on Friday. CBN stated that “DFS have the potential to expand access to …
Read More »Wema Bank to Begin N40 Billion Rights Issue in August
Wema Bank Plc has concluded arrangement to commence its N40 billion rights issue to the existing shareholders of the bank in August. Wema Bank got shareholders nod at an Extraordinary General Meeting (EGM) to raise capital of up to N40 billion by way of a rights issue to the existing …
Read More »Financial Inclusion in Nigeria Increased to 45% in 2021- World Bank
The proportion of Nigerians with accounts at regulated institutions – such as banks, microfinance organizations and mobile money service providers – rose from 16% to 45% in 2021. This was disclosed by the World Bank in a report titled, “The Global Findex Database 2021: Financial Inclusion, Digital Payments, and Resilience …
Read More »KongaPay at House of Lords, London, Signs Historic Partnership with Bibimoney
KongaPay, a frontline mobile money platform and a member of the Konga Group, Nigeria’s leading composite e-commerce giant, has signed a landmark deal with Bibimoney, a UK-based industry leader to expand access to financial inclusion for many in Nigeria, while also raising standards in the Fintech ecosystem in Nigeria and …
Read More »Halo Financial Services: Bridging the Financial Gap by Improving Accessibility
A recent study by the Karlsruhe Institute suggests that retail investors provide stability when the market is in turmoil. They provide liquidity to stocks and lower the risk of price crashes. So, increasing the number of retail investors can make the market more stable overall. For the individual, investing is …
Read More »Fitch Reaffirms Ecobank Nigeria’s Stable Outlook
Fitch Ratings has affirmed Ecobank Nigeria Limited’s (ENG) Long-Term Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook. Fitch also affirmed the Bank’s Viability Rating (VR) at ‘b-‘ and National Long-Term Rating at ‘BBB (nga)’. The rating agency released this rating last week, stating that the Bank’s IDRs are …
Read More »Delta, Rivers Corps Members to Benefit from Unity Bank Corpreneurship Challenge N10m Business Grant
Unity Bank’s flagship Entrepreneurial Development Initiative, Corpreneurship Challenge, is set to return for the 8th edition across 10 locations in Nigeria, including a debut in Delta and Rivers States. The Retail lender kick-started the Corpreneurship Challenge scheme in 2019, with a launch in Lagos and in three other states, which …
Read More »DiamondXtra: Access Bank to Reward SS/SE Customers with Millions
Access Bank Plc has said that it is set to reward its customers in the South-South and South-East, SS/SE, regions with millions of Naira and other attractive consolation prizes in the DiamondXtra regional draw. The draws which has been scheduled to hold on June 29, 2022, in Owerri, Imo State, …
Read More »Super Rewards Campaign: Ecobank to Gift 100 Customers N50,000 Monthly
Ecobank Nigeria has launched Season 3 of its Super Rewards Campaign. The customer-focused initiative is designed by Ecobank to reward customers loyalty, with Season 3 set to reward 100 customers with cash prizes of N50,000 monthly, while 2 customers will go home with N1 million each at the end of …
Read More »