BankingTechnology

Africa Leads the Global Mobile Money Revolution with $1.1 Trillion in Transactions

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April 24, 2025
Africa has solidified its position as the world leader in mobile money adoption, boasting an impressive 1.1 billion mobile money accounts and facilitating $1.1 trillion in transactions annually. This milestone highlights the continent’s innovation in leveraging mobile technology to drive financial inclusion and economic growth. The remarkable growth of mobile money in Africa is fueled by the…
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Banking

"UBA provides assistance to micro, small, and medium enterprises (MSMEs)."

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August 23, 2023
The United Bank for Africa has announced its plans to conduct a workshop that will provide valuable insights to proprietors of micro, small, and medium-scale enterprises, enabling them to effectively manage both their well-being and finances in the face of global economic challenges. According to an official statement released on Tuesday, UBA has organized this workshop as part of its ‘UBA…
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Banking

Zenith Bank leads Nigerian lenders in new global ranking

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July 3, 2023
Zenith Bank Plc has retained its ranking as the ‘Number One Bank in Nigeria by Tier-1 Capital’ in the 2023 top 1,000 world banks’ rankings published by The Banker Magazine. The bank had held its position as the number one Tier-1 bank in Nigeria for the fourteenth year…
Banking

Expert tasks CBN on exploitative bank charges

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July 3, 2023
Mr Okechukwu Unegbu, a financial expert, has called on the Central Bank of Nigeria to check the multiplicity of service charges by Deposit Money Banks. Unegbu, a past president of the Chattered Institute of Bankers of Nigeria, made the appeal in an interview on Sunday in…
Banking

Bank of Industry gets recognition in UK

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June 16, 2023
The Bank of Industry says its key capital-raising transactions from the international financial market, which fueled its financial performance in 2022, have been recognised with local and international awards.The bank, in a statement, said its total assets had grown by 248 per cent between 2016 and 2022, reaching N1.71tn by the end of 2021 and closing at N2.38tn as of December 2022. For these…
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Banking

Polaris Bank is restructuring and planning new financing

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June 13, 2023
Polaris Bank says it has adopted a customer-centric approach as part of its restructuring in order to boost future success. The lender also said it was concluding plans to inject tier-ii capital in order to enhance the growth of its assets This was stated by the bank’s…
Banking

FG records N930bn two-month deficit - CBN

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June 6, 2023
The Federal Government recorded N930.8bn fiscal deficit in January and February 2023 according to the Central Bank of Nigeria. The CBN stated in its monthly economic report for February 2023 that, “The estimated overall fiscal deficit of the FGN expanded in February, due to a drop in the retained revenue. At N513.05bn, the provisional fiscal deficit of the FGN rose by 22.8 per cent relative to…
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