NIBSS, banks, others resolving PoS transaction failures
Customers who are finding it difficult to use their debit cards for electronic payment transactions or have fallen victim of failed transactions can now enjoy a hitch-free transactions as…
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NIBSS
Nigeria risks losing cashless growth over rising PoS transaction declines
Nigeria could lose the strides it has made in terms of driving cashless economy if authorities continue to ignore consumers' growing frustration over persistent transaction declines…
As bank cheques mark 360th anniversary with 4 years decline in Nigeria…
February 16, 2019 made it 360 years since the cheque book was officially launched as a financial instrument in the world. Unfortunately, its usage is gradually but steadily dwindling with…
Mines ready for big game in credit service with $13m Series A round
Credit services firm, Mines has announced a $13 million Series A round that will help it acquire new talents, sustain growth in Africa and expand its offerings to other emerging markets.…
MTN, NIBSS, partner others to re-launch mCASH to boost cashless economy
Nigeria cashless initiative and financial inclusion may begin to gain traction like others of its peers across Africa as MTN Nigeria, Nigeria Inter-Bank Settlement System (NIBSS), alongside…
MFBs, others adoption to drive future of mCash
The future of the mCash, a product of the Nigeria Inter-Bank Settlement System (NIBSS) is seen to be driven by expected significant adoption by other financial institutions (OFIs).
Other…
How Nigeria is driving the World Poverty Clock
Only last week, the World Poverty Clock released a report that painted a glim picture of the increasing poverty trend in the country. The report notes that Nigeria has already overtaken…
CBN mandates banks to strengthen security operation centres
Worried by recent increases in the number and sophistication of cyber-security threats against Deposit Money Banks (DMBs) and the Payment Service Providers (PSPs), the Central Bank of…
Fraud in banking sector up 28% in four years
Banking industry reported more fraud cases as it lost a total of N12.30 billion to various frauds between 2014 and 2017. In terms of volume, the sector recoded 41,461 fraud cases during the…
Banks adopt NIBSS, PFS automated clearing system for cheques
Nigerian banks are taking on next level innovation in today’s digital age, as deposit money banks have adopted the new National Automated Clearing System (NACS), a development fostered by…