In an effort to further bridge the financial inclusion gap in the country, Globacom, recently launched its payment service bank business called the MoneyMaster PSB. The PSB had since commenced commercial operations on May 30, 2022. In a statement shortly after the launch in Lagos, the telecom company said: “Our over-arching business objective remains to
One of the leading financial institutions in Nigeria, Access Bank in its bid to enhance financial inclusion has noted its intentions to significantly increase its customer base and deepen wallet share of the banking population riding on its agency banking platform. Access Bank agency banking ‘Access Closa ’ recently hit a milestone of having 100,000
Sterling Bank Plc has added a savings and peer-to-peer lending feature to its digital banking platform. The new feature, known as Ajo Scheme, is the digital construct of Ajo, Esusu and Adashe, the oldest informal means of saving. The Ajo Scheme will allow its platform users to make an agreed monthly contribution with funds accessed
In efforts to build a more financial inclusion in the country, Fintech firms have seen capital inflow to the tune of $400 million in the year 2019. According to reports, the Central Bank of Nigeria (CBN), through its governor, Mr Godwin Emefiele revealed that this investment in fintech firms was part of the plan to
The Deputy Governor, Financial System Stability, Central Bank of Nigeria, Mrs. Aishah Ahmad, recently, has charged financial technology companies (fintechs) to contribute in the drive to enhance financial inclusion in the country. The Managing Director, Ecobank Nigeria Limited, Mr. Patrick Akinwuntan, also disclosed that the bank has scrapped the USSD charges for its customers. According
Worried by the increasing rate of the unbanked population, the Federal Government, through the Central Bank of Nigeria (CBN), kicked off a campaign in 2012 to achieve 80 per cent financial inclusion of adult population by 2020. The CBN carried out the campaign through agency banking, mobile banking/mobile payments, linkage models and client empowerment, to
The Association of Mobile Money Agents in Nigeria (AMMAN) in alliance with EcosaHybrid Network, recently held a capacity building workshop with a major focus to bridge knowledge gap among financial inclusion agents and other core stakeholders in the industry The centre of attention, which was in the Northern part of the country, was designed
