NIRSAL MfB disbursed N503bn to 881,081 businesses, households in 12 months

NIRSAL MfB disbursed N503bn to 881,081 businesses, households in 12 months

NIRSAL Micro Finance Bank (NIRSAL MFB) has disclosed that a total of N503 billion in loan facilities was disbursed through it to over 881,081 Nigerians and businesses within 12 months as a result of the coronavirus pandemic. Abubakar Abdullahi Kure, managing director and chief executive of the national microfinance bank, disclosed on Wednesday in Abuja, […]

Nigerians shift away from cash as e-payments grow, PoS hits N5.7trn 

Nigerians shift away from cash as e-payments grow, PoS hits N5.7trn 

  Banks, payment companies’ investments, internet penetration contribute to growth   A strong growth across various electronic payments channels was recorded in the 11 months to November 2021, data obtained from the Nigeria Inter-Bank Settlement System (NIBSS) shows. A 38.1 percent increase was reported in the value of transactions carried out through Points of Sales […]

Access Bank HoldCo structure nears as lender eyes matching global peers

Access Bank HoldCo structure nears as lender eyes matching global peers

  All approvals-in-principles in Transforming to non-operating financial HoldCo Shareholders to hold shares in HoldCo, bank   Ajoritsedere Awosika, chairman of the board of Nigeria’s tier-1 lender, Access Bank, says the bank intends to restructure into a non-operating financial holding company structure with the banking group and its banking subsidiaries.   In a regulatory disclosure […]