A roaming SIM is a mobile phone SIM card that operates on more than one network within its home country. Roaming SIMs currently have two main applications, least cost call routing for roaming mobile calls and machine to machine Globasure’s gROAM solution delivers a multiple network connectivity using a single SIM (Roaming SIM). Businesses expect […]
Payment Solutions
The Central Bank of Nigeria has stated that individuals in need of funds don’t need to know anybody to collect loans from banks, and should desist from borrowing from loan sharks. This was disclosed by the CBN governor, Godwin Emefiele at the first MPC meeting of 2022. The apex bank governor expressed his displeasure in […]
The Central Bank of Nigeria on Yesterday, announced the postponement of the planned unveiling of the digital currency, eNaira. The launch was initially scheduled for today, October 1, but was postponed due to other activities lined up to commemorate the country’s 61st Independence Anniversary. The apex bank’s Director of Communications, Osita Nwasinobi, explained in a […]
The Central Bank of Nigeria’s eNaira website has gone live ahead of the October 1 official launch. According to the website, www.enaira.com, “eNaira is a CB -issued digital currency that provides a unique form of money denominated in Naira.” Find out what makes the eNaira different from the money in your bank account — according […]
What is open-loop? Open-loop payments are attracting attention worldwide as a convenient method of paying for transport and other services. Open-loop means any payment method can be used to make payments without having to be part of the system itself. In essence, a customer can use their existing contactless card to pay for a journey […]
Nigeria barred banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies in February. HIGHLIGHTS eNaira would accelerate financial inclusion The first cryptocurrency ATM opened in Honduras last week The machine is locally dubbed “la bitcoinera” Nigeria will work with Bitt as a technical partner in its bid to launch its own cryptocurrency, […]
Fintech, or financial technology, is the term used to describe any technology that delivers financial services through software, such as online banking, mobile payment apps or even cryptocurrency. Fintech refers to software, algorithms and applications for both computers- and mobile-based tools. In some cases, it includes hardware, too—like smart, connected piggy banks or virtual reality […]
The Central Bank of Nigeria (CBN) has removed the exchange rate of N379/$1 from its website homepage conforming with the bank’s policy that the NAFEX rate is now the default reference exchange rate for official and legitimate transactions. A check confirms it has been removed while sources within the CBN also confirmed it has been […]
The Central Bank of Nigeria has reportedly banned fintech companies and other non-bank financial institutions in Nigeria from providing the Bank Verification Number validation service. Paystack revealed this in messages sent to its customers on Thursday. Paystack said, “We’ve recently been made aware of a regulatory directive from the primary custodian of Nigeria’s BVN service to […]
Some days ago, History was made in Africa especially in Nigeria as Ngozi Okonjo-Iweala was appointed the world trade organization’s seventh Director-General. On the 15th Of February, 2021 the General Council agreed by consensus to selected Ngozi Okonjo-Iweala of Nigeria as the WTO seventh DG. Read Also: BREAKING: CBN bans Nigerians from buying, selling bitcoin, […]
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