Business

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Access Bank

Access Bank to acquire 78.15 per cent stake in BancABC Botswana

Nigeria biggest financial  institution, Access Bank PlC is set to entered into a definitive and binding agreement with ABC Holdings Limited to acquire 78.15 per cent shareholding in fifth largest bank in Botswana, (BancABC Botswana). The deal is expected to close before the end of the second quarter. ABC Holdings is a subsidiary of London …

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Nigeria naira bank note

History of Nigerian Currency: What year and date was Naira banknote introduced

  The history and origin of Nigeria currency can be trace down to  1912 to 1959,  when the West African Currency Board (WACB) issued the first set of banknotes  and coins in Nigeria and other part of west Africa countries like Ghana, Sierra Leone and the Gambia. The highest banknote denomination was one pound, while …

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Visa Inc to accept cryptocurrency payment settlements for transactions

Visa Inc to accept cryptocurrency payment settlements for transactions

The world’s biggest payments company,Visa Inc announced to start accepting and processing Cryptocurrency USD Coins whose value is pegged directly to the U.S. dollar in  its network. The cryptocurrency wallet will deposit traditional fiat currency in a bank account, to be wired to Visa at the end of the day to settle any transactions, adding …

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Non-Performing Loans

Nigerian banks Non-Performing Loans ratio jump to 6.3% as against CBN 5% benchmark

Commercial banks in Nigeria Non-Performing Loans (NPL ratio has move higher to to 6.3% for the month of February 2020. However, the apex bank regulatory acceptable NPL ratio is 5%, the situation breached the CBN benchmark since the fall in oil prices began in the 4th quarter of 2019 and the Covid-19 pandemic broke in …

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Elon Musk said, you can now buy a Tesla with bitcoin in the US

Elon Musk said, you can now buy a Tesla with bitcoin in the US

The world’s most valuable carmaker, Elon Musk has revealed via Twitter that customers can now buy a Tesla with Bitcoin. For accepting bitcoin payments, Tesla isn’t relying on any third-party networks or wallets — the company is “using only internal & open source software & operates Bitcoin nodes directly The fast-rising American electric car manufacturer …

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Paysafe’s Skrill partners with Coinbase to provide new Crypto solutions in United States

Paysafe’s Skrill partners with Coinbase to provide new Crypto solutions in United States

Paysafe’s Skrill, a leading specialized payments platform, partners up with Coinbase to launch a new white-label solution by enabling customers across 37 states in United states and territories to easily buy and sell multiple cryptocurrencies. This first phase of Skrill’s expansion into the US cryptocurrency market strengthens American access to digital wallet availability, with support …

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CBN

CBN List of approved international Money Transfer Operator in Nigeria

The Central Bank of Nigeria (CBN) has unveiled the list of approved 100 International Money Transfer Operators in Nigeria as the apect bank approved Flutterwave Technology, Paypal Inc, Western Union, e-Tranzact Limited, Interswitch Limited, Moneygram, and Cashpoint Limited the already existing list. We are going to list out all the international money transfer operator in …

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Innoson Motor Denies Partnership With cryptocurrency Organization, Zugacoin

The leading indigenous Vehicle Manufacturing company,Innoson motor has denied any partnership with crypto Organization, Zugacoin  on the use of any form of cryptocurrency for the purchase of any product from Innoson Group. The company has revealed that they  stands by the decision of the Central Bank of Nigeria that the use of cryptocurrencies in Nigeria …

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Access Bank SwiftPay: How to register and use it on social media payment platforms to merchants

Access Bank SwiftPay: How to register and use it on social media payment platforms to merchants

In renewing financial commitment providing the much-needed technological support to SMEs , Access Bank has again taken a bold step towards driving value-added digital banking solutions in Nigeria by unveiling SWIFTPAY, a digital payment service on social media platforms to merchants. Access bank SWIFTPAY enable customers make quick, easy and secure payment via social media …

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Bitcoin value

Bitcoin could hit $1 million per coin- says Kraken Exchange, Jesse Powell

The co-founder of Kraken Exchange, Jesse Powell, has predicted that Bitcoin could hit $1 million in the next decade adding that it could replace all major fiat currencies. “If you are buying into Bitcoin out of speculation, you should be committed to holding for five years,” Powell said. “You have to have strong convictions to …

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US DOLLAR

CBN Naira 4 Dollar Scheme : CBN to Pay Diaspora Remittances Recipients N5 for Every 1 USD Received

The central bank of Nigeria has introduce New financial policy known as  “CBN Naira 4 Dollar Scheme” a diaspora remittances  to  boost inflows of diaspora remittances into the country through CBN-licensed international money transfer operators (IMTOs). In a  latest circular by the apex bank,  directing  all Deposit Money Banks, International Money Transfer Operators (IMTOs) and …

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Google to resume accepting political ads in United States

Google adds crypto’ tab Bitcoin, Ethereum, Litecoin on its finance platform

Google has adds  cryptocurrencies and digital assets  to it ‘s Finance platform Compare Markets” category alongside conventional stock and currency markets. The search engine giant add tab section that  provides key pricing information for various cryptocurrencies, which  include Bitcoin, Ether , Litecoin  and Bitcoin Cash . The flagship crypto has gotten more credibility in recent …

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Google to resume accepting political ads in United States

Google to resume accepting political ads in United States

The search engine giant,  Google has revealed that they will start support responsible political advertising, and expect all political ads and destinations to comply with local legal requirements, including campaign and election laws and mandated election “silence periods,” for any geographic areas they target Google paused all political advertisements in January when Trump’s mobs invaded …

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WorldRemit

World Remit Refund: How to cancel your transfer and process a refund in simple steps

World Remit Refund – According to a recent report by the “Central Bank of Nigeria (CBN)” the average annual remittance inflow from diaspora to Nigeria is estimated to about $2 billion USD, which suggests that Nigeria can leverage on these funds to further ease compounding pressure on the naira. On the heels of this, the …

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FCMB Introduces SheVentures

FCMB Introduces SheVentures Interest-free loan for women to Facility SMEs

With a clear understanding of Nigeria market and environment, First City Monument Bank (FCMB) has introduced SheVentures an anchored supporting women with vision for women-owned Small and Medium Scale Enterprises (SMEs). The SheVentures, is an intensified support to small and medium scale enterprises (SMEs) by providing interest-free loans of up to N5 million to entrepreneurs. …

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Ngozi Okonjo-Iweala confirmed as the next Director-General of the World Trade Organization WTO

Nigeria’s Okonjo-Iweala confirmed as DG of World Trade Organisation

  Nigeria former finance minister, Okonjo-Iweala makes history as the first woman and the first African to lead the WTO. Her term starts on the 1st of March 2021 and will expire on 31 August 2025. The General Council decision follows months of uncertainty that arose when the then United States President Donald Trump’s government …

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Janet Yellen

Janet Yellen Consider employ new financial technologies to moves against misuse of cryptocurrencies

The new United States Treasury Secretary, Janet Yellen has warned about an explosion of risk associated with digital markets and misuse of cryptocurrencies She said that new financial technologies could help fight crime and reduce inequality: cryptocurrencies have been used to launder the profits of online drug traffickers; they’ve been a tool to finance terrorism.” …

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