banking
Fintech News Trending

NANS Calls for Immediate Reversal of N50 Fintech Transfer Levy as September 9 Deadline Hits

The National Association of Nigerian Students (NANS) has raised its voice against the newly introduced N50 Electronic Money Transfer Levy (EMTL), which is set to take effect from September 9, 2024. This levy mandates a deduction of N50 for every electronic transfer of N10,000 and above through fintech platforms like OPay and Moniepoint. In a […]

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Business Fintech

FIRS Extends EMTL to Fintechs: Moniepoint, OPay Set to Deduct N50 on Inflows Over N10,000 from September 9th, 2024

The fintech revolution in Nigeria has long promised customers a seamless, low-cost banking experience. From quick money transfers to free deposits, these platforms—Moniepoint, OPay, PalmPay, and others—have enjoyed widespread popularity. But come September 9, 2024, things will change for users of these services.  It’s a regular Saturday morning, and Moniepoint’s customers receive a notification on […]

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Business

Bolaji Agbede Named Access Holding Interim CEO Following Tragic Incident

Access Corporation, the parent company of Access Bank, Nigeria’s largest bank by assets, has appointed Bolaji Agbede as interim CEO, just two days after the tragic death of Herbert Wigwe, the founding Group CEO. The announcement was made by Access Holdings on Tuesday morning, with Abubakar Jimoh, the chairman of Access Holdings, stating that Agbede’s […]

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Business

Access Bank Mourns the Tragic Loss of CEO Herbert Wigwe in Helicopter Crash

Access Bank, a prominent financial institution in Nigeria, is grappling with the devastating news of the untimely death of its founding Group CEO, Herbert Wigwe, along with his wife, son, and three other passengers, including the chairman of the Nigerian Exchange, Abimbola Ogunbanjo. The tragic incident occurred in a plane crash involving a Eurocopter EC130, […]

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Business

Titi Cole: Navigating Change and Paving the Way in Banking

In the intricate landscape of global banking, few women stand out as Titi Cole, a seasoned navigator whose career has seen her steer through numerous transitions, and shape the future of a banking industry in flux. Currently serving as the Head of Legacy Franchises at Citigroup, she oversees consumer businesses across Asia, Europe, the Middle […]

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Business Economy

Access Bank completes its exit from the pension custody sector.

Access Holdings Plc has announced that its subsidiary, Access Bank Plc has completed the divestment of its entire equity interest in Access Pension Fund Custodian Limited to First Pension Custodian Nigeria Limited, a subsidiary of First Bank of Nigeria Limited. The Group released a statement signed by the company secretary, Sunday Ekwochi and filed with […]

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Startups Technology Venture Capital

Nigerian Banking-as-a-Service startup, Anchor, raises $1 million in pre-seed funding

Anchor, a Nigerian Banking-as-a-Service fintech startup, has raised $1 million in pre-seed funding. The Y Combinator-backed startup will use this investment to attract the best talent, improve the company’s tech infrastructure, invest in compliance and regulatory infrastructure, and acquire customers. Byld Ventures, Y Combinator, Luno Expeditions, Niche Capital, Mountain Peak Capital, and angel investors such […]

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Business News Technology

Moneymie has shut down its digital bank for immigrants to focus on B2B services

Moneymie suspended its digital bank service, which allowed African immigrants in North America to send and receive money from Nigeria, Ghana, and South Africa, on August 9, 2022. Although Moneymie is discontinuing its B2C services, the fintech company announced that it will focus on cross-border payments and payouts for business users through its B2B platform […]

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Uncategorized

Despite a 222% increase in currency availability, the Naira declines on the P2P market to N691 per $1.

At the official foreign exchange market, the naira/dollar exchange rate closed at N429.43/$1. In comparison to the N429.05/$1 exchange rate recorded on Friday, August 19, 2022, the currency rate decreased marginally to close at N429.43/$1, or a 0.09% depreciation. In the meantime, the amount of FX supply increased by 222.3% to $161.94 million from 50.22 […]

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Business Business News Finance

Millions of underbanked women are the target of Unity Bank’s Yanga Market Penetration Campaign.

With its new retail product, the Yanga account, Nigeria’s retail lender Unity Bank Plc has launched a new marketing campaign aimed at millions of female entrepreneurs, particularly the underbanked. Beginning in August, the lender will launch smart marketing initiatives utilizing both conventional and digital media to promote the Yanga product’s value proposition and boost uptake. […]

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