The amount of money mobilized outside the banking system through mobile money reached record GH¢2.3 billion ending December 2017, according to data from the Bank of Ghana. The amount represents a growth of 84.6 percent over the December 2016 amount of GH¢1.3 billion. These funds mobilized through mobile money are currently held by banks. Mobile
First Bank of Nigeria Limited, in the financial year 2017 received an avalanche of awards in recognition of its activities and interventions in various sectors in the financial services industry. The awards epitomize the Bank’s sustained relevance to its customers and the nation at large for 124 years. FirstBank was named the ‘Most Valuable Bank
Barclays Africa Group Limited (BAGL) has signed a 2-year agreement to provide financial support to the Frontclear Technical Assistance Programme (FTAP) through the latter’s Partnership Facility. The contribution reflects the bank’s commitment to building inclusive, stable and liquid interbank market development through providing training, regulatory support and essential market infrastructure. The programme will be rolled-out
Digital security provider Gemalto is providing its PURE white-label payment solution to Ghana Interbank Payment and Settlement Systems, a subsidiary of Ghana’s central bank that manages the country’s interbank payment processing system. Gemalto’s technology and consultancy will help speed up Ghana’s migration to the enhanced security of EMV transactions, and enable GhIPSS to offer its
Union Bank of Nigeria Plc (Union Bank) has announced changes to the membership of its Board of Directors with the retirement of an Executive Director, Mr. Ibrahim Kwargana and the resignations of Non-Executive Directors, Engr. Mansur Ahmed, Chief Dr. (Mrs.) Onikepo Akande and Mrs. Arina McDonald in October 2017. Mr. Kwargana’s retirement comes after 33
ProvidusBank launches the World Elite Mastercard offering in Nigeria, providing affluent consumers and frequent travelers with a range of priceless travel benefits and lifestyle privileges both at home and abroad. This is the first launch of World Elite Mastercard in Sub-Saharan Africa. During an impressive launch ceremony held in Lagos over the weekend, Managing Director/CEO,
Businesses in Nigeria can now securely request and receive payments directly from their customers using PayU’s secure product called PayU Receive. PayU Receive is a secure payment solution that facilitates business-to-business and business-to-consumer payments easily via email or SMS. It allows businesses to make use of PayU’s safe and secure payment services by allowing them
Foremost African financial institution; Guaranty Trust Bank plc reaffirmed its position as a leading global brand with its recent recognition as the “Best Bank in Nigeria” and the “Best Bank for CSR in Africa.” The Bank’s Managing Director and Chief Executive Office, Segun Agbaje, also won the award for the CEO of the Year, which
The prepaid industry is now a truly worldwide market. Since launching in the mid-1990s in the US and the first programme in Europe in 1999, the popularity of prepaid cards has spread across the globe. Originally introduced as a more efficient replacement for paper gift certificates, prepaid now represents a payment category that spans a
First Bank of Nigeria Limited, Nigeria’s most valuable bank brand, has successfully recertified to the Payment Card Industry Data Security Standard (PCI DSS) version 3.2, having been one of the first top-tier banks in Nigeria to obtain the PCI DSS certification in 2014. This recertification reaffirms the Bank’s leading position in the payment card industry
