Technology makes life more comfortable but it does not necessarily make life cheaper. This is not truer of the banking sector.
Increasing network hitches and lack of funds are slowing the efficiency of Automated Teller Machines (ATMs), thereby frustrating Nigerians, who thronged to get funds for the yuletide season.
17 Nov 2021
A recent report by the International Monetary Fund (IMF) has shown that Nigerian banks closed 234 branches and 649 Automated Teller Machines (ATMs) in 2020 leading to a decline in the country’s Financial Access Score (FAS) to 4.44 last year against 4.78 in 2019.
9 Jul 2021
The Central Bank of Nigeria (CBN) has released a supervisory framework for payment service banks (PSBs) to streamline their operations and deepen financial inclusion.
6 Dec 2020
As the recent #EndSARS protests that shook the country degenerated into social unrest, where massive looting and destruction of public and private properties became the order of the day, various sectors of the economy felt the impact differently.
30 Oct 2020
A walk through my neighbourhood here in FESTAC Town, Lagos, reveals a large number of mini-banks that have recently been set up along the streets, and in one corner or the other, of the neighbourhood. I believe that this is also currently the situation in many other parts of the country. Many umbrellas and kiosks…
29 May 2019
Every leap forward in technology can be a leap forward in human benefit, if managed properly. Innovation, technology and digital advancements have brought us to some of the most exciting times in civilisation. We have gone from tellers to ATMs, cheque books to electronic cards, rotary to mobile phones, from paying bills over the counter…
3 Oct 2017
Integrated Cash Management Services Limited (ICMS) has come up with interventions to ensure unavailability of cash across Automated Teller Machines (ATM) points in Nigeria becomes a thing of the past.
3 Oct 2017
For consistently demonstrating exemplary performance in electronic banking and payment solutions, First City Monument Bank (FCMB), has been conferred with the prestigious ‘’Excellence Award in Alternate Channel Banking,’’ at the 2017 edition of the New Age Banking Awards.
15 Jun 2016
The payments system “revolution” in the country may have appeared unending with the coming of card-enabled overdraft services, aimed at deepening and supporting lifestyle banks’ customers.