Financial technology, also known as FinTech, is an industry made up of different companies that utilize advanced technology to increase financial services’ efficiency and effectiveness. We can also say FinTech is a technical tool that supports financial services and makes the delivery of such services easier. FinTech companies are businesses that provide financial services to […]
Payment Solutions
Payment Platform means any platform used to charge end-user payment and/or service fee via internet, electronic machine and/or physical stores for providing product and/or service. Below are some top 10 online payment platform in Nigeria. Interswitch: This payment service has been rated as Africa’s best online payment gateway company that allows merchants receive their monies […]
The Central Bank of Nigeria (CBN) in collaboration with the Bankers’ Committee has introduced cash collection centres called Bank Neutral cash hubs. This is to enable it to reduce cost and improve operational efficiency in the country’s cash management value chain. This is according to a recently released circular titled, ”Guidelines for the registration & […]
THE currency in circulation rose by N418bn from N2.91tn in December, 2020, to N3.33tn in December, 2021, according to figures obtained from the Central Bank of Nigeria. The CBN data showed that currency in circulation had increased by 19.06 per cent from N2.44tn recorded as of December, 2019. The CBN said in its report on […]
The Nigerian Senate voted against adding the Value Added Taxes into the exclusive legislative list. This was disclosed by the Senate during Tuesday’s plenary session. This also comes as states governments and the Federal Government head to the supreme court over the collection of Value Added Taxes in States. What the Senate is saying The […]
The exchange rate between the naira and the US dollar closed at N416/$1 at the Investors and Exporters (I&E) window, where forex is traded officially. The exchange rate at the I&E window closed flat on Wednesday at N416/$1, which was the same as the rate recorded in the previous trading session. Meanwhile, a total of […]
CBN to stop forex sale to banks by December, targets $200bn non-oil exports The Central Bank of Nigeria has revealed that it will stop the sale of foreign exchange to Deposit Money Banks by the end of the year. According to the CBN Governor, Godwin Emefiele, banks must begin to source their forex from export […]
The Central Bank of Nigeria (CBN) recently released the list of 28 companies that were beneficiaries of N23.2 billion from the first cycle of the 100 for 100 Policy on Production and Productivity (PPP). What most applications should bear in mind is the apex bank the maximum loan limit under the initiative is N5 billion. […]
The Central Bank of Nigeria on Wednesday released a list containing details of the 28 firms that benefitted from the N23.2bn loans disbursed in the first cycle of the 100 for 100 Policy for Production and Productivity. The list was released on the apex bank’s official website. This is coming after the CBN Governor, Godwin […]
Currency in circulation in Nigeria rose by N1.15 trillion in 2021 to N3.33 trillion as of December 2021 its highest level on record. This is on the back of several monetary policies adopted by the Central Bank of Nigeria to increase liquidity in the economy. Nairametrics obtained this data from the money and credit statistics […]
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