Next Wave: Emefiele and other risks Welcome, Amazon MAY 2, 2021 This newsletter is a weekly in-depth analysis of tech and innovation in Africa that will serve as a post-pandemic guide. Subscribe here to get it directly in your inbox every Sunday at 3 pm WAT Hello, April was going to end quietly but Godwin […]
The Central Bank of Nigeria has announced the immediate removal of all of the directors of First Bank Nigeria Limited as well as FBN holdings.
“There is no such thing as an obligation due from banks to telcos.”
“We chose not to make a public statement out of it because it is not appropriate for us to be found fighting with telcos in public.”
Yesterday, the telecommunications company, MTN Nigeria announced ten alternative channels for its customers to buy airtime for their mobile devices after commercial banks disallowed MTN subscribers to use their channels. All banks in Nigeria, except Zenith Bank, have taken MTN off their platform. Customers can now recharge airtime through fintech solutions platforms such as Flutterwave, […]
Everyone who uses USSD will now pay a N6.98 flat fee per transaction. The key difference in the new charge is that customers will not be billed per session, which is a cheaper outcome than what MTN introduced in 2019.
In a continuing fight between the market and the regulator, the CBN’s Naira4Dollar policy is incentivizing users to receive money through “formal channels” by giving them ₦5 for every $1.