Nigerian online merchants have welcomed the launch of PayPal in the West African country, saying it will lead to a growth in internet transactions, though warning it needs to integrate with local platforms. HumanIPO reported earlier this week PayPal had become available in ten new markets, including Nigeria, Cameroon, Ivory Coast and Zimbabwe. Adeoye Ojo,
In line with his vision of entrenching a more professional and people-focused central bank, the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has approved the redeployment of Deputy Governors in the Bank. With the new changes, Alhaji Suleiman Barau, Deputy Governor, Corporate Services Directorate is now the Deputy Governor, Operations Directorate.
IFC, a member of the World Bank Group, has announced it signed an advisory services agreement with Firstmonie, a subsidiary of First Bank Nigeria Limited, to advance mobile financial services and agent banking in order to strengthen the supply of affordable financial services to low-income individuals and small-scale entrepreneurs in Nigeria. IFC will provide Firstmonie
United Bank of Africa (UBA) Plc is set to build a new generation of loyal customers with its new suit of products tailored to meet the unique needs of teenagers and young adults. The product “Next-Gen” account, which was launched at Intercontinental Hotel on Monday, is basically a suit of personal current accounts designed to
The new Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has formally assumed office at the Headquarters of the Bank in Abuja, making him the 10th indigenous Governor in the history of the apex bank. Mr. Emerfele, who was cleared by the Senate on Wednesday, March 26, 2014 arrived at the CBN
Nigeria’s Guaranty Trust Bank (GTBank) has launched SME MarketHub, an e-commerce portal for small and medium enterprises (SMEs) in Nigeria, which seeks to enable entrepreneurs to bring their businesses online and take advantage of the vast sales opportunities within the space. The bank said the portal allows it to contribute to the growth and development
A petition has been launched on Change.org asking PayPal to bring its online payment service to Nigeria by Lagos-based design company CreativityKills. The petition, which at the time of going to press had 88 supporters, said, though being citizens of the country with the largest economy in Africa, Nigerians that want to take part in
With Nigeria having recently eclipsed South Africa as the continent’s biggest economy, it is worth taking a look the nation’s progress from the perspective of a service which is indispensable to the modern way of life – electronic payments. And electronic payments, in turn, depend on suitable telecommunications and banking infrastructure. The pace of change
The Western Union Company, has announced the launch of a new web site in Nigeria. The Nigeria launch represents the first receive-enabled Western Union web site, globally. “Western Union is growing its network and increasing consumer access to our services worldwide,” said Khalid Fellahi, senior vice president and general manager, Western Union Digital. “The launch
Guaranty Trust Bank plc has been adjudged the “2014 African Bank of the Year” for the 2nd consecutive time by African Banker Magazine in an announcement made on Wednesday, 21st May, 2014 at the awards ceremony that held at Kigali Serena Hotel, Rwanda. The African Banker Awards is one of the biggest annual events that
