Nigerian President Goodluck Jonathan has approved the creation of a new government agency to buy out bad debts from the banking system. The move, announced on Monday, aims to solve the country’s financial crisis by absorbing some of the estimated 10 billion US dollars of bad loans that rocked its banking system in 2009. During [...]

The current upsurge and nefarious activities of Automated Teller Machine (ATM) fraudsters is threatening electronic payment system in the nation’s banking sector with users threatening massive dumping of the cards if the unwholesome act is not checked. Findings by Sunday Tribune showed that the activities of the fraudsters cut across all the banks having ATM [...]

What if wealthy Africans decided to invest their earnings in Africa instead of overseas? What if the 80 per cent of Africans who don’t have bank accounts were able to use financial services? And, what if African governments were able to invest their money in ways that will produce more goods and services? These are [...]

This is a superlative and audacious assertion to make in this season of peculiar and enormous developments in world economy and, in Nigeria itself.

A Forbes magazine report estimated “750 million households worldwide don’t have a bank account. In Nigerian about 79% of the adult adults are considered underbanked. However most of these people own a mobile phone. Over the past few years, a number of start-ups have put these facts together to form an industry that helps people [...]