Archives Tag: Cashless
Agency Banking, Not A Catalyst To Nigeria’s Cashless Vision
April 19, 2022
Agency banking, which led to the proliferation of POS terminals, has not aided in Nigeria’s cashless policy operations. Although the system was introduced in 2013 as part of the CBN’s efforts towards the cashless policy, more cash has been in circulation. Read more about Fintech On January 1, 2012, the Central Bank of Nigeria … Continue reading Agency Banking, Not A Catalyst To Nigeria’s Cashless Vision
Advantages Of A Cashless Economy
April 19, 2022
Several years back, it was difficult to convince people to limit the amount of cash they carried around. There were also reservations as to the efficacy of the cashless system. However, right now, we are typically running a cashless society. Although a few people remain resistant to this change, we can’t be far from the … Continue reading Advantages Of A Cashless Economy
Is Nigeria Really Going Cashless?
April 19, 2022
In 2012, the Central Bank of Nigeria introduced its Cashless Policy. It aimed to reduce the volume of cash in circulation, and encourage a general switch to electronic payment systems. Other stated purposes included granting the informal economy greater access to credit, increased tax collections, and making monetary transactions more traceable (thus deterring corruption). … Continue reading Is Nigeria Really Going Cashless?
Travel Tips: Choosing Travel Currency– Cash or Cashless?
April 19, 2022
Recently, I read about Akon City. Described as the real life Wakanda of Africa, it is a new community built in Senegal by the musician Akon. Apart from the city’s plans of renewable energy and its architectural feats, my interest my interest was captured by the community’s reliance on an Akion only currency. This Akion … Continue reading Travel Tips: Choosing Travel Currency– Cash or Cashless?
By ann
App Of Week: NowNow
April 19, 2022
NowNow is a platform that lets you make and accept payments conveniently using your smartphone. With the numerous transactions going on daily in the country, relying solely on cash transactions can be costly. This is why NowNow – an E-wallet platform -was launched to alleviate these problems and introduce a means to make and accept cashless payments. … Continue reading App Of Week: NowNow
App Of The Week: Union Mobile
April 19, 2022
Union Mobile is an attempt to enable seamless banking and still have access to all the cool features that make an app worth opening every single day. This app claims stands out among other top-tier banking apps because it is a multi-purpose app which spans some features found on a banking app and other apps. Here are some … Continue reading App Of The Week: Union Mobile
Kwara State Goes Cashless in July
April 19, 2022
Kwara State will commence its cashless financial services on July 1st, 2014, the Central Bank of Nigeria has announced. This was made known by the acting governor of the CBN, Dr. Sarah Alade on Tuesday in Ilorin, the state capital, during the bank’s sensitization exercise on cashless policy. In a key note address, Dr. Alade … Continue reading Kwara State Goes Cashless in July
By mary-odunuga
The Central Bank of Nigeria Plans to Introduce Agent Banking
April 19, 2022
A banking agent is a retail or postal outlet contracted by a financial institution or a mobile network operator to process clients’ transactions. Rather than a branch teller, it is the owner or an employee of the retail outlet who conducts the transaction and lets clients deposit, withdraw, and transfer funds, pay their bills, inquire about an account balance, or receive government benefits or a direct deposit from their employer. Banking agents can be pharmacies, supermarkets, convenience stores, post offices, and many more.
By kobe
