When First Bank set the pace for thoughts on Open Banking

October 11, 2021 Amaka Ifeakandu 0

At FIntech Summit 5.0 organised by First Bank of Nigeria, experts brainstormed on how best to make the Open Banking initiative work in financial service delivery, even as the FBN speaks on reasons for its intervention and the bank’s plans to remain atop the nation’s banking industry. AMAKA IFEAKANDU reports First Bank of Nigeria Limited, Nigeria’s premier and leading financial Read More

CBN says’ll not compromise regulatory standards

October 8, 2021 Benjamin Umuteme 0

The Central Bank of Nigeria (CBN) has assured that it would continue to protect the depositors against fraudsters. Speaking at the second day of the 31st seminar for Finance Correspondents and Business Editors Thursday in Enugu, the Director Banking Supervision Department, CBN, Mustapha Haruna said that the apex bank will not compromise on its professionalism as it continues to regulate FinTechs. Read More

First Bank Fintech 5.0: Unveiling benefits, challenges and prospects of Open Banking

October 3, 2021 Amaka Ifeakandu 0

Ahead of the First Bank Fintech Summit 5.0 coming up Thursday and  themed “Open Banking and Its Derivative Opportunity for the Financial Ecosystem,”  AMAKA IFEAKANDU looks at  some of the benefits, challenges and prospects of open banking in Nigeria.  The advancement in the technology has placed the Nigeria banking industry on the fast lane to adopt different innovation to provide excellent services, Read More

Cybersecurity Hackathon set to discourage fraudulent activities

September 30, 2021 Amaka Ifeakandu 0

A digital transformation and Blockchain expert, Mr Jude Ozinegbe has said that the cyber security Hackathon is targeted at Nigerian youths as part of efforts to cut down an unhealthy cyber activities in the country. Ozinegbe who is the Chief Executive Officer/ Converner Cyberchain Consult made this statement in Lagos while briefing Journalists on the forth coming Cyberchain 2021 Conference. Read More

Jigawa: Dutse LG loses N2.5m to ghost workers monthly

September 27, 2021 Bayo Muhammad Alabira 0

Chairman Jigawa state House of Assembly Committee on Staff Verification, Surajo Muhammed Kantoga, weekend said the ongoing staff verification exercise in the local education departments is not aimed at witch-hunting anybody or group. The chairman stated this while briefing journalists on the activities of his committee. He said the objective of the exercise is to block financial leakages in the Read More

$34bn untapped remittances: Why BDCs should be involved

September 15, 2021 Blueprint 0

The Central Bank of Nigeria (CBN) recently stopped the sale of foreign exchange to Bureaux De Change (BDC) operators over accusation of illicit financial behaviour. However, analysts have stressed the need for the apex bank to allow the BDCs receive diaspora remittances through the institution of a framework that allows those with automated operations access the estimated $34 billion into Read More

Economic growth: Minister calls for broader, deeper financial system

August 19, 2021 Adeola Tukuru 0

Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo said on Thursday that the only way to sustain the growth of the nation’s economy is to broaden and deepen the financial system. In his address at the 2021 national Workshop of the Chartered Institute of Stockbrokers in Abuja, the Minister noted the importance of the financial sector in enhancing efficient Read More

CBN releases new guidelines for Mobile Money operators

In accordance with its mandate to promote a sound financial system in Nigeria, and establishment of an efficient and effective trading arrangement including electronic payment systems, the Central Bank of Nigeria (CBN) has released Regulatory Guidelines and Framework for Mobile Money Services in the country. These guidelines have defined two models for implementing mobile money services: bank-led (bank and/or its Read More

NDIC boss wants Deposit Insurance Courses in ICAN programmes

July 12, 2021 Amaka Ifeakandu 0

The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan has called on the Institute of Chartered Accountants of Nigeria (ICAN) to include courses on the deposit insurance system (DIS) into the Institute’s programs and modules to deepen the understanding of the scheme within the banking public. The NDIC Boss made the call during a courtesy Read More

Crypto-currency: Is FinTechs getting its groove back?

June 4, 2021 Blueprint 0

With the Central Bank of Nigeria (CBN) Governor Godwin Emefiele assuring that the country will soon have its own digital platform, experts are optimistic that FinTechs would be the biggest beneficiaries of the decision; BENJAMIN UMUTEME reports. Back in February when the Central Bank of Nigeria announced that Deposit Money Banks (DMBs) should stop facilitating payment for crypto-currencies, many Nigerians Read More

SEC to engage Fintech, sanction operators frustrating e-dividend

April 17, 2021 Benjamin Umuteme 0

The Security and Exchange Commission (SEC) has said it will continue to engage players in the Fintech space and support them to operate lawfully in a bid to ensure the delivery of safe products and services without stifling innovation.  This is the outcome of the meeting of the Capital Market Committee (CMC) of the Commission. Briefing journalists on the outcome the meeting Read More

Ecobank MD canvasses artificial intelligence to check cybercrimes

April 4, 2021 Blessing Anaro 0

The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has advocated the use of artificial intelligence to predict security threats and proffer solutions. Akinwuntan who made this assertion at a webinar themed, “Cyber threat Landscape: Financial services, 2021 and beyond.”organised by Information Security Society of Africa, Nigeria (ISSAN), said as cyber-attacks continue to grow in intensity and frequency, Artificial Intelligence (AI) can Read More