Visa, MasterCard seen to hold key to digital currency sponsorship
Charles AbuedeSeptember 23, 2020
By Charles Abuede Report shows how cryptocurrency firms forge partnerships with card issuers A recent report by Nilson has revealed that a growing number of cryptocurrency exchanges, brokers, and payment platforms see partnerships with MasterCard and Visa prepaid card issuers as the answer to digital currency sponsorship; as these Fintechs have the option […]
Sterling Bank joins push for $1trn Africa agriculture market by 2030 as ASA kicks off
Onome AmugeSeptember 23, 2020
By Onome Amuge Nigerian lender Sterling Bank has set its eyes on seeing an African agriculture market reaching $1 trillion by 2030. The ambitious push was unfolded as the bank kicked off Wednesday the 2020 edition of its annual Agriculture Summit Africa, popularly known as ASA. The third edition of the summit, a 2-day event, […]
IFRSEF calls for Nigeria’s representation at IASB, condemns poor financial reporting in Nigeria
Businessam StaffSeptember 22, 2020
A newly formed group of financial experts, IFRS Experts Forum (IFRSEF) Nigeria, has advocated for Nigeria’s representation at the International Accounting Standard Board (IASB), London. The non-profit organisation, incorporated in Nigeria in February, 2020, asserts that the biggest market for IFRS in Africa is Nigeria but it is not well represented at International Accounting Standards […]
NIRC calls for better company accounts to attract foreign, Nigerian investors
Businessam StaffSeptember 22, 2020
The Nigerian Integrated Reporting Committee (NIRC) has called for better company accounts for foreign and Nigerian investors. The chairman of the committee, Innocent Okwuosa, made the call during the committee’s recent programme organised to respond to International Integrated Reporting Council (IIRC) and its framework’s consultation. Okwuosa stated that a better company accounts report does not […]
TATUP launches Cash Deposit Tokento enable self-cash deposits, transfers outside banking halls
Charles AbuedeSeptember 22, 2020
By Charles Abuede TATUP International Services Limited (TISL), a financial inclusion company in Nigeria, has launched its cash deposit token, which it says enables self cash deposits and transfers outside of banking halls. The launch, held last Friday in Lagos, saw the brand unveiling and product presentation of the TATUP cash token […]
CBN applies moral suasion on banks to raise agriculture lending to 10%
Onome AmugeSeptember 17, 2020
Onome Amuge The Central Bank of Nigeria (CBN) has persuaded commercial banks operating in the country to increase their lending rate to the agricultural sector from four percent to 10 percent over the next four years. Godwin Emefiele, governor of the apex bank, made the appeal on behalf of stakeholders in the agriculture sector while […]
After Covid-19, what is next for Islamic banking?
Businessam StaffSeptember 17, 2020
While Islamic banks emerged relatively unscathed from the 2008 global financial crisis, Covid-19 is having a deeper impact. Nevertheless, the disruption could provide opportunities to diversify the sector and accelerate its ex- pansion once the pandemic subsides. Relative to conventional institutions, Islamic banks are more exposed to small and medium-sized enterprises (SMEs), microfinance and retail […]
Pandemic risks to shape short-medium term treasury strategy, says EIU survey
Charles AbuedeSeptember 17, 2020
Charles Abuede Corporate treasury strategy around the world will have the most impact from the risk of the global pandemic by as much as 43 per cent in the short term, and 27 per cent in the medium term, a new report by the London-based Economist Intelligence Unit (EIU) has projected. The report titled: “The […]
PoS agency banking: No smooth operation yet
Saviour AdugbaSeptember 16, 2020
Saviour Adugba Good, bad and ugly N I G E R I A HAS BEEN ON A LONG drive for financial inclusion, supported by a related journey to bolster the development of its digital economy. In the quest to achieve this, the Central Bank of Nigeria (CBN) and the Ministry of Communications and Digital Economy […]
Nigeria inflation refuses to let up. How does it affect you?
Charles AbuedeSeptember 15, 2020
Charles Abuede Nigeria’s consumer price index, which measures the average change in the prices of goods and services consumed by people for day-to-day living over time, rose by 1.34 per cent to 13.22 per cent (year on year) in the month of August 2020, indicating a 0.40 per cent point rise from the rate (12.82 […]