Collaboration Between Banks And Fintechs Encouraged By Stakeholders

To reap the full benefits of innovation in Nigeria’s financial sector, stakeholders in the banking and FinTech industries have called for increased cooperation between the two sectors. On Wednesday in Lagos, stakeholders made the announcement at a virtual launch of the Nigeria FinTech Census 2020 Study. In collaboration with the FinTech Association of Nigeria, Ernst and Young Nigeria, a business-to-business service provider that offers Assurance, Consulting, Strategy and Transactions, and Tax, hosted the event. The conference’s theme was “Future of the Nigerian FinTech Industry – Growth, Collaboration, and Policy.” Mr Chuma Ezirim, the group executive, eBusiness and Retail Products, First […]



NCC Urges Banks And Financial Institutions To Accept IP Asset Collateralization In Order To Help SMEs

The Nigeria Copyright Commission (NCC) has urged banks and financial institutions to accept IP asset collateralization in order to help SMEs in the creative sector and increase their contribution to the country’s Gross Domestic Product (GDP) (GDP). Mr John O. Asein, Director-General of the Nigerian Copyright Commission (NCC), stated in a statement signed by the commission’s Director of Public Relations, Mr Vincent Oyesefor, that copyright, like other IP properties, has importance that should be exploited for long-term national growth. According to him, the commission is willing to collaborate with relevant agencies and stakeholders to further investigate this issue. “SMEs are[…]



In One Year, Banks Laid Off 8,584 Employees

The banking sector has not been spared as companies restructure to conform to the current standard, with the number of workers in the industry falling by 8.3% in December 2019 relative to December 2019. According to the National Bureau of Statistics (NBS) Selected Banking Sector Report, the number of banking employees fell by 8,584 in the fourth quarter of 2020, to 95,026 as of December 31, 2020, compared to 103,610 in 2019. The COVID-19 pandemic had a significant effect on bank activities, with many branches closing to limit contact and many of the affected employees being temporary employees. In the[…]