Introduction Okay, so let’s discuss this “Blockchain” everybody’s been raving about. It sounds all really high-tech, like something out of a science fiction film or whatever, but believe me, the overall concept isn’t that complicated, sorta like how we keep books in our own communities, only with a more modern, electronic system. We’re going to … Read more
Inflation, that intangible abstract power of economics, has an exponentially real and in no sense heterodox-effect on Nigerians’ everyday lives. It is an abstract thief, stealing away the buying power of the Naira and rearing its ugly head in all from market stall garri prices to economic hope attainability some unspecified tomorrow. In a nation … Read more
Meteoric Explosion of Mobile Loan Apps in Nigeria Nigeria, land of its vibrant inhabitants and rapid digital coverage extension, was thrown off balance by the meteoric growth of mobile lending apps. Smart algorithms and access to easily accessible information facilitated platform-based players as they have positioned the traditional models of lending upside down, rolling out … Read more
Negotiating the Digital Frontier: How Nigerian Banks are Preparing for the Cryptocurrency Boom The cryptocurrency boom, which had been a world-wide phenomenon and had captured the eyes of everybody everywhere, ranging from investors and technologists to regulators, had been an intriguing test and challenge to the traditional banking system. Nigeria, a country that has witnessed … Read more
Titans of Tier-1: Unmasking the Banking Frontline of Bare Nigeria and Their Defining Strengths. Nigeria’s banking industry, a vibrant and dynamic rhythm of its economy, is tiered and dominated by the “Tier-1” banks. They, as far as asset size, market capitalization, branch penetration, and spread cluster go, are trendsetters in their own right. It takes … Read more
The Digital Leapfrog: How Nigeria’s Fintech Boom Brings Down Traditional Banking Supremacy In Nigeria’s wildly fluctuating and dynamic economic environment, something of paramount importance is in the making. The formerly invincible dominance of the traditional banks is being challenged and all functional purposes replaced with increasing preference for fintech use. This is not a passing … Read more
Comprehend the Genesis and Objectives of BVN Security matters most to the dynamic life of financial services upon which stability and confidence are founded. To the Nigerian banking community, beset by everything from identity theft to fraud, the introduction of the Bank Verification Number (BVN) in 2014 was a game-changer. This biometric identification system, which … Read more
Nigeria’s financial center, Nigeria’s economy, has transformed in a revolutionary manner throughout the years. Traditional banks, in their physical appearance and traditional way, are traditional intermediation wizards in finance, playing intermediary functions of saving, lending cash, and paying. But banking in Nigeria today is reforming at a very, very fast rate, threatening to obliterate the … Read more
Introduction The past two years have witnessed Nigeria experience a fast-paced revolution in its financial services sector where digital-only banks emerged and grew. Digital-only banks that have no physical presence in the sense of having brick-and-mortar shops employ technology to provide a variety of banking services using mobile applications and websites. The revolution of digital-only … Read more
Introduction: The Central Bank of Nigeria (CBN) has a pivotal function in the Nigerian banking industry, working as the topmost regulator to ensure the stability, soundness, and efficiency of banks and other financial institutions. From its inception in 1958, the CBN has emerged as a vibrant institution with the mandate to license banks, form monetary … Read more