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Banks, Telcos Urged to Develop Cross-sectoral Collaboration to Drive Technology Innovations Necessary for Financial Inclusion

Banks, Telcos Urged to Develop Cross-sectoral Collaboration to Drive Technology Innovations Necessary for Financial Inclusion
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Press focuses on deferred implementation of new petroleum industry law, others

Press focuses on deferred implementation of new petroleum industry law, others
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Forex: Bank CEOs plan digital process to check fraud

The Bankers Committee on Thursday announced that it is planning a digital process to tackle fraudulent transactions on foreign exchange (forex) just as it stated that sales are progressing. The Central Bank of Nigeria (CBN) recently stopped the sale of forex to Bureau de Change (BDC) operators and asked banks to take charge. Shortly after […]

POS transactions in Nigeria hit over N3 trillion in H1 2021

The value of point of sales transactions made in Nigeria jumped to N3.01 trillion in the first half of 2021, with a total volume of 462.11 million transactions in the same period. This is according to the report released by the Nigeria Inter-Bank Settlement System (NIBSS) for the month of June 2021. This represents a 50% increase compared to N2 trillion recorded in the corresponding period of 2020 and a 10.3% increase against N2.72 trillion recorded in the second half of 2020. The increase in the value of POS transactions in Nigeria shows the spending patterns of Nigerians and payment preferences as compared to cash payments. Highlights

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