Category Archives: News

Difference between open-loop and closed-loop payment cards

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…
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Nigeria to Launch Its Own Cryptocurrency ‘eNaira’ in Partnership With Bitt

Nigeria barred banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies in February. HIGHLIGHTS eNaira would accelerate financial inclusion The…
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CBN Bans Fintech Companies From Providing BVN Validation Services For Customers

The Central Bank of Nigeria has reportedly banned fintech companies and other non-bank financial institutions in Nigeria from providing the Bank Verification Number…
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Nigeria's Ngozi Okonjo-Iweala appointed WTO director-general

Nigeria’s Ngozi Okonjo-Iweala appointed WTO director-general

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…
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BREAKING: CBN bans Nigerians from buying, selling bitcoin, other cryptos

Central Bank of Nigeria has ordered banks and other financial institutions to close customer accounts used in trading cryptocurrencies and other related transactions. In…
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VAT Revenue Grew By 29.3% To ₦1.53 Trillion In 2020 – NBS

The Nigerian government generated a total sum of 1.53 trillion naira revenue from Value Added Tax (VAT) in 2020, up by 29.3% when…
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CBN issues modalities for payout of diaspora remittances in dollars

The Central Bank of Nigeria (CBN) has issued a circular setting out the Modalities for Payout of Diaspora Remittances. The apex bank has…
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CBN issues framework for Regulatory Sandbox Operations in Nigeria

Ths Central Bank of Nigeria has taken proactive steps towards ensuring more flexible ways of engaging with operators in the payment solutions/fintech space,…
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Elon Musk Now World’s Richest Person With Over $185 Billion Net Worth

Elon Musk with a new net worth of more than $185 billion has Claimed the World's Richest Person Status From Jeff Bezos According…
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Update On Globasure’s Revoked PTSP Licensees By CBN

The Central Bank of Nigeria (CBN) has revoked the operating licenses of Seven (7) Payment Services Providers. This was contained in an official…
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