The Fintech Association of Nigeria has stated that challenges with the execution of the country’s cashless policy may erode customers’ trust in the banking system.
It said increasing merchants’ demand for cash payment despite empty ATMs, putting overwhelming pressure on digital channels and causing PoS charges to inch closer to 50 per cent.
According to the association, a cashless policy…
Many Nigerians are still paying far above N185 per litre approved pump price of petrol amid fuel scarcity, a report of the National Bureau of Statistics has indicated.
The members of the Major Oil Marketers Association of Nigeria, and NNPCL Retail outlets, sold the product…
The chaos trailing the cash scarcity has assumed a worrisome dimension with the organised private sector raising the alarm that the crisis has grounded the economy.
Members of the organised private sector including the Lagos Chamber of Commerce and Industry, Nigerian…
The Lagos Chamber of Commerce and Industry has warned that the sustained rise in the general price level in recent times has caused some weakening in purchasing power.
The chamber, in a statement signed by its Director-General, Chinyere Almona, said the rising inflation had worsened the plight of Nigerians, particularly at a time when multidimensional poverty had climbed too high with an…
Stock investors lost N281bn at the end of trading on the floor of the Nigerian Exchange Limited last week.
The NGX All-Share Index and market capitalisation depreciated by 0.96 per cent and 0.95 per cent to close the week at 53,804.46 and N29.310 trillion respectively.
Also…
Agusto & Co. Limited, a pan-African credit rating agency and business information provider has said Nigeria’s insurance industry’s 2022 gross premium will rise above N700bn from increased economic activities.
It stated this in its 2023 insurance industry report…
Advocacy groups are looking for ways to work together to address the housing shortage.
February 20, 2023
Stakeholders in the built industry have called for collaboration between the Federal Government and the private sector to tackle the country’s housing deficit.
This call was made at the maiden edition of the real estate outlook conference organised by Wemabod Limited in Lagos recently.
In his keynote address, the Chief Executive Officer of Financial Derivatives Company Limited, Bismark Rewane…
The Nigerian Investment Promotion Commission has commenced the development of a well- coordinated investment promotion ecosystem Act, to enable government and non-government investment promotion players to undertake mutually reinforcing and complementary roles to attract…
Ecobank has rewarded four customers with N1m each for using the electronic payment channels of the bank regularly.
During the cheque presentation at its super rewards event in Lagos, the bank said it introduced the programme to promote the use of its electronic payment…
PremiumTrust Bank has received ‘Nigeria’s Fastest Growing Bank 2022’ and ‘Bank of The Year 2022 (Sports Development)’ awards from the Management of BusinessDay Banks & Other Financial Institutions Awards Committee.
The management of BAFI Awards noted that Premium Trust which commenced operations in April 2022, received ‘Nigeria’s Fastest Growing Bank 2022’ award in recognition…