19

Jul

TAJ Bank Releases New Software To Make Transactions Easier

TAJ Bank, Nigeria’s non-interest bank, has announced that it has gone live with a Sopra Banking platform – core amplitude up, Sopra Banking Software’s core banking system (SBS). TAJ Bank explained in a statement released and signed by Mr. Hamid Joda, the bank’s founder, in Abuja yesterday: “We are pleased that Sopra Banking Software has assisted us in starting our banking activity.” SBS has shown its commitment to making our goals a reality. “The Central Bank of Nigeria (CBN) recently granted TAJ Bank a full banking license, and the bank went live in a record 6-month implementation project led by […]

16

Jul

The First Bank Loan To Firstmonie Agents In A Year Has Reached N100 Billion

The First Bank Loan To Firstmonie Agents In A Year, Has Reached N100 Billion First Bank of Nigeria Limited says it had given out N100 billion to its 114,000 Firstmonie agents dispersed across the country’s 772 local government areas, one year after launching its agent credit scheme. The bank’s agent banking network, according to the bank, is part of its effort to enhance financial inclusion in the country while also creating jobs and empowering its consumers. The agent credit scheme was designed by the First Bank to encourage and expand the commercial activities of its leading agent banking platform, Firstmonie[…]

15

Jul

Banks’ Total Assets Increased By N6.97 Trillion Over A Year Period

According to the Central Bank of Nigeria, total banking assets increased by N6.97 trillion between April 2020 and April 2021. Despite the COVID-19 pandemic, assets increased from N46.2 trillion to N53.17 trillion between April 2020 and April 2021, according to information acquired from the CBN’s Monetary Policy Committee report on Wednesday. “The financial system continued to record strong growth, with total asset increasing by N6.97 trillion from N46.2 trillion to N53.17 trillion between April 2020 and April 2021, owing primarily to an increase in credit,” according to the report. “Total credit increased by N2.84 trillion (15.26 percent) between April 2020[…]