Digital Skills to Power Nigeria’s Economy CBN Targets $1bn Monthly in Diaspora Financial Authorities to Track Digital Currencies President Bola Tinubu has directed Nigeria’s financial and capital market authorities to monitor the growing use of stablecoins and digital currencies. Speaking at the 18th Annual Banking and Finance Conference in Abuja, the president, represented by Finance … Read more
Boldswitch unveils U.S. accounts for Nigerians Zero-fee payments from U.S. clients Virtual USD cards for global access Nigerian fintech startup Boldswitch has introduced U.S. bank accounts designed for Nigerian freelancers, entrepreneurs, and digital creators, offering them direct access to international financial services that were once difficult to reach. Eko Hot Blog reports that the launch … Read more
The Nigeria Deposit Insurance Corporation (NDIC) has initiated the auction process for the landed properties and chattels of Heritage Bank, as part of efforts to ensure the timely distribution of liquidation dividends to uninsured depositors of the failed bank. This action, as stated by NDIC spokesperson Bashir Nubu, is in line with the Corporation’s legal … Read more
Nigeria plans to integrate 30 million unbanked citizens into the formal financial sector as part of President Tinubu’s Renewed Hope Agenda. EKO HOT BLOG reports that Nigeria’s Vice President, Kashim Shettima, has announced the federal government’s initiative to integrate 30 million unbanked Nigerians into the formal financial sector. This move aligns with President Bola Tinubu’s goal … Read more
Chartered Institute Of Bankers Swears In New President. Inauguration ceremony, chaired by Senior Advocate of Nigeria Wole Olanipekun, took place in Lagos. Speaker of the House of Representatives emphasizes need for embracing technological advancements. EKO HOT BLOG reports that Professor Pius Olanrewaju has officially assumed the position of the 23rd President/Chairman of the Council at the … Read more
New Leadership for Nigeria’s Banking Sector CIBN Embraces Technological Advancement and Financial Inclusion Cybersecurity Emerges as a Key Priority Eko Hot Blog reports that in a ceremonial event, Professor Pius Olanrewaju officially assumed the role of the 23rd President/Chairman of the Chartered Institute of Bankers of Nigeria (CIBN). The inauguration ceremony was presided over by … Read more
Nigeria’s recent attempts to stifle crypto transactions feel like a missed opportunity. While concerns about money laundering and naira volatility are understandable, a blanket ban ignores the potential crypto holds for our nation’s young people, a demographic desperate for economic empowerment. EDITOR’S PICKS MTN Nigeria To Adjust Call tariffs Amid Operational Challenges Details As Tinubu’s … Read more
NIMC introduces advanced New Multi-Purpose NIMC Card. The card serves as a national ID and facilitates financial transactions, adhering to EMV standards. Application process outlined, emphasizing the importance of safeguarding sensitive card details and requiring possession of a National Identification Number (NIN). EKO HOT BLOG reports that the National Identity Management Commission (NIMC) has introduced a … Read more
FG to issue three new national ID cards to 104 million citizens: bank-enabled, social intervention, and ECOWAS biometric. Rollout timeline pending presidential approval, aiming for distribution within one to two months. Initiative promotes financial inclusion, access to services, and participation in nation-building. EKO HOT BLOG reports that the Federal Government of Nigeria is set to roll … Read more
The recent directive by the Central Bank of Nigeria (CBN) to include customers’ social media handles as part of the customer identification process has sparked both praise and concerns. While the CBN aims to strengthen Customer Due Diligence (CDD) regulations and combat fraudulent activities, there are valid apprehensions regarding privacy infringement and its potential impact … Read more
The Lagos State Residents Registration Agency (LASRRA) says it is ready to work with the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) in a bid to protect Lagos Residents from fraudulent activities faced by Point of Sale (POS) operators in the course of doing business. Eko Hot Blog reports that the … Read more
The Nigerian Communications Commission (NCC) and the Nigerian Postal Service (NIPOST) have agreed to sign a Memorandum of Understanding (MoU) on an e-fulfillment centre for e-services, e-commerce, e-governance and e-agriculture. The two organisations agreed on this during a courtesy visit by the NIPOST management to the NCC’s headquarters on Wednesday in Abuja. The Post Master … Read more