Revised Agent Banking Regulation – Explained Simply
The Central Bank of Nigeria (CBN) has updated the rules guiding agent banking (POS operators and other bank agents) to make financial services safer, more reliable and accessible. The changes…
Banking Operations and Innovations in Nigeria: A Case Study of Fintech Companies (Opay)
Introduction Banking operations in Nigeria have evolved from the traditional brick-and-mortar model to include technology-driven solutions. While commercial banks like GTBank, Zenith and Access Bank dominate the sector, fintech companies…
Global Standing Instruction & Loan Recovery in Nigeria
The Global Standing Instruction (GSI) is a policy introduced by the Central Bank of Nigeria (CBN) to enhance loan recovery and promote financial stability. Official Circulars and GuidelinesOperational Guidelines on…
A Smart Shield for Consumers in Distress: Why Nigerian Banks Must Innovate Beyond PINs
Imagine this: you’re being coerced at an ATM or POS by rogue officers or scammers and you’re forced to make a transfer. Right now, all your options feel like a…
Consumer Protection During Nigerian Bank System Upgrades: 5 Key Tips
As Nigerian banks undergo system upgrades to enhance their services, consumers may experience disruptions in banking operations. These upgrades, while essential for improved security and efficiency, can also present risks…
How Higher Interest Rates Affect Your Wallet: What You Need to Know!
When the Central Bank of Nigeria (CBN) raises interest rates, it impacts everyone in different ways. Here’s a simple breakdown for consumers: 1. Higher Loan Costs When interest rates go…
Managing a bad credit history
Getting rid of the negative credit report information and catching up on past due bills is the best way to start rebuilding bad credit. To increase your score to a…
FIRS imposes VAT on online transactions starting; January 2020
The Federal Inland Revenue Service (FIRS) says it will begin to impose value-added tax (VAT) on online transactions, both domestic and international, with effective from January 2020. Babatunde Fowler, FIRS…
How to keep your online transactions secure
Is online transaction safe today? It is a big question that has not only vanish the sleep of bankers and e-commerce consumers but has become the challenge for tech masters…
What to do if your bank account is hacked
If you notice any strange or unusual activity on your bank statement, notify your bank immediately. Cyberattacks on banks happen every day but not to worry, most banks are well…
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