BankingFintech

Your payments and collections will be made simpler for you thanks to ALAT's new NQR feature.

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September 22, 2022
ALAT, one of Nigeria’s leading digital banking platforms has again raised the bar in service delivery by including a new quick response (QR)-code-based payments and collections solution to boost convenient and safe financial transactions. The new feature on ALAT, known as NQR or quick response (QR), is a code-based payment and collections solution that provides fast, easy, secure, reliable…
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Banking

Currency in circulation devalues to N3.24tn

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September 7, 2022
Currency in circulation fell by N107.08bn from N3.35tn in April to N3.24tn in July, latest figures on currency from the Central Bank of Nigeria has revealed. According to the CBN, the CIC which stood at N3.33tn in May fell to N3.25tn in June. The CBN recently warned Deposit…
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UBA Foundation calls for essay entry

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September 7, 2022
UBA foundation, the corporate social responsibility arm of the United Bank for Africa (UBA) Plc, has announced the commencement of its National Essay Competition (NEC). The Foundation also called call for entries for this year’s edition. In a statement yesterday, the Foundation said yearly NEC competition, is part of UBA Foundation’s education initiative which is aimed at promoting literacy…
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Banking

Banks lend N3.38tn to firms at single-digit rate

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September 2, 2022
Customers accessed loans worth N3.38tn at single-digit interest rates under the Central Bank of Nigeria’s intervention funds as of the end of June. A member of the Monetary Policy Committee meeting, Aliyu Sanusi, disclosed this in his personal statement at the last MPC…
BankingEconomyMarket

BoI to finance climate-friendly investments with €100m

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August 30, 2022
The Bank of Industry on Monday said it has accessed a €100m credit under the Transforming Financial Systems for Climate programme of the agency, in collaboration with the Green Climate Fund. In a statement, the Managing Director, BOI, Olukayode Pitan, said this at the 2nd regional roundtable on ‘Creating world class sustainable development financial institutions through embracing holistic…
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Banking

Agusto & Co forecasts 16.5% banking sector loan growth

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August 30, 2022
Agusto & Co. Limited, a pan-African credit rating agency and business information provider, has projected loans in the banking sector to rise by 16.5 per cent. It disclosed this in its annual ‘2022 Nigerian banking industry report’, which provided a comprehensive…
Banking

States get N472bn World Bank-assisted fund

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August 18, 2022
The Federal Government, on Wednesday, revealed that states had received N471.9bn of the $1.5bn World Bank-assisted States Fiscal Transparency, Accountability and Sustainability Programme for Results. The Minister of Finance, Budget and National Planning, Dr Zainab Ahmed…
Banking

Mobile transactions rise by N8.9tn in three years

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August 18, 2022
Mobile transactions have risen by N8.981 trillion between the first seven months of 2019 and the corresponding period of 2022. They have risen from N289.12bn to N9.27tn, according to data from the Nigeria Interbank Settlement System. This is as the value of cheque transactions fell by 31.42 per cent, from N2.67tn in January to July 2019 to N1.83tn in the corresponding period of 2022. The growth in…
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