Payment Solutions

Competition in the payment cards market continues to intensify with global firm MasterCard now targeting university alumni. This follows a partnership deal between MasterCard, Equity Bank and Kenyatta University to issue cards to the institution’s network of alumni spread across the world. Kenya University vice chancellor Olive Mugenda said the concept of payments card for […]

Barring any unforeseen development, the Central Bank of Nigeria (CBN) is set to roll out the cash-less policy nationwide by January, 2014. The policy was, early in the month, extended to Abia, Anambra, Kano, Ogun and Rivers states and Federal Capital Territory (FCT), after the Lagos pilot project, which was introduced in January 2012. The […]

It’s surprising to think that something as widespread as chip and PIN hadn’t really made any tentative steps outside the safe haven of brick-and-mortar stores until very recently. Up until last year, customers were still paying tradesmen, small stores and market stallholders exclusively by cash or cheque. The world of chip-and-PIN machines is certainly a […]

The E-Payment Providers Association of Nigeria has said over 400 top level government executives from over 100 Ministries, Department and Agencies are billed to gather at its second’s Annual EPayment for Government Summit holding later this month. This was confirmed by the Executive Secretary and Chief Executive Officer of E-PPAN, Mrs. Onajite Regha at the […]

The recent extension of cash-less monetary policy by the Central Bank of Nigeria (CBN) to five states and the Federal Capital Territory (Abuja) is running smoothly as commercial banks are complying with the directives of the apex bank, even as the banking public is fast adapting to the new policy. The policy took off as […]

The naira continued to gain on value, firming against the dollar yesterday as the Nigerian National Petroleum Corporation (NNPC) sold dollars, complementing the auction by the Central Bank of Nigeria (CBN), traders said. The naira closed yesterday selling at N161.1 to the dollar on the interbank market, firmer from N161.8 at the previous day’s close. […]

The Manufacturers Association of Nigeria (MAN), the umbrella body of manufacturers in the country has expressed satisfaction with the level of preparedness by United Bank for Africa (UBA) Plc in support of the new cash-lite policy of the Central Bank of Nigeria (CBN), urging that more efforts be put in place to ensure that seeming […]

The Federal Inland Revenue Service (FIRS) will commence implementation of automated Value Added Tax (VAT) and Withholding Tax deductions at source for the aviation industry by September 2013. The Acting Executive Chairman of FIRS, Alhaji Kabir Mashi, made the disclosure in Abuja, at a one-day sensitisation workshop for FIRS field officers, collection agents and banks. […]

Though not among the first 200 banks globally, but one made a show among the first 300 banks, while 12 others made the first 600 banks. To many still, this might not be the best of results and what the country could offer to the world, but we do well too to remember where we […]

The MD/CEO Globasure Technologies Limited Mr Chris Ife, Examines the roles of the Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) in driving cashless initiative. The Central Bank of Nigeria (CBN) had in January 2011 announced the commencement of cashless policy in Nigeria, beginning with Lagos as a pilot scheme. The policy […]