Moniepoint, a prominent fintech firm in Nigeria, is embarking on a groundbreaking multimillion-dollar offline strategy aimed at harnessing the vast potential of the National Union of Road Transport Workers (NURTW) and propelling financial inclusion to new heights in the country. With an astounding membership of almost 2 million, comprising taxi, bus, and truck drivers, the NURTW stands as one of Nigeria’s most influential and financially liquid trade unions. What’s particularly intriguing for Moniepoint is the unwavering commitment of these drivers to remit fees to the association, making them a prime target for financial services. Moniepoint recently revealed impressive figures, boasting…
Author: Elvis Eromosele
Stanbic IBTC Holdings, a member of the Standard Bank Group, is actively supporting the Green Recovery Nigeria (GRN) Programme in collaboration with the Nigerian Conservation Foundation (NCF). The aim is to elevate Nigeria’s forest cover from its current meagre 5 per cent to the recommended 25 per cent of national land cover by 2050, as advised by the Food and Agriculture Organisation. In a significant ceremony held recently at the Lekki Conservation Centre (LCC), nestled within the heart of Lagos, and serving as the NCF’s headquarters, Stanbic IBTC reaffirmed its commitment to this crucial initiative. Enhancing the nation’s forest cover…
Stanbic Holdings Plc, the parent company of Stanbic IBTC, has launched its fintech subsidiary The bank released Zest into the market, which it said will change the fintech landscape in Nigeria The bank revealed that it aims to revolutionise payment and online selling in Nigeria Stanbic IBTC Holdings has released its fintech subsidiary, Zest, to the public to change the payment landscape in Nigeria. At the launch of Zest in Lagos, the Group Chairman of Stanbic Holdings, Basil Omiyi, said the bank aspires to become the leading end-to-end financial services provider for businesses and individuals in Nigeria. IBTC says it…
By Elvis Eromosele In Nigeria today, the monster of inflation is rearing its head with unrelenting intensity. Prices are spiralling out of control, and the average business owner and individual are grappling with the harsh reality of inflation’s bite. While this economic challenge is not unique to Nigeria, its impact is profoundly felt by those at the bottom of the pyramid. According to the National Bureau of Statistics (NBS), Nigeria’s annual inflation rate climbed to 25.8 per cent in August 2023, from 24.08 per cent in July, marking the highest rate since September 2005. Experts point out that the rate…
With about 70 registered fertilizer-blending plants in the country, Nigeria has the capacity to produce eight million metric tonnes of fertilizer per year, industry experts have revealed. The Programme Lead for the African Fertilizer Initiative with the International Fertilizer Development Center (IFDC) Sebastian Nduva, who revealed this while speaking at the NPK Technical Working Group Validation Workshop, yesterday in Abuja, stated that Nigeria has the largest number of registered fertiliser blending plants in Africa and it’s close to being self-sufficient in NPK fertilizer production. According to him, the validation of the statistics of fertilizer produced in the country was to…
Operator of the Murtala Muhammed Airport Terminal II (MMA2) facility in Lagos, Bi-Courtney Aviation Services Limited, has raised user-fees for car park and in-terminal lounge services by about 33 per cent. By the increment, which takes effect November 1, 2023, users will now pay between N500 and N5000, depending on the duration of stay. The new tariff announcement is some three months after the Federal Airports Authority of Nigeria (FAAN) raised Lagos Airport access toll fees by 50 per cent. BASL, yesterday, said the tariff review was considering the new economic reality, adding that the decision had long been held…
Telecommunications operators, especially tower companies, have revealed that the concentration of infrastructure in cities guarantees a faster return on investment (RoI). Lagos, Abuja and Port Harcourt were identified as the most viable cities for telecom operators, rationalising the concentration of infrastructure in the locations. Speaking during the West Africa Telecoms Infrastructure Summit and Exhibition (WATISE) organised by Technology Mirror in Lagos, Mike Ofili, Chief Executive Officer, Coloplus, a tower infrastructure company, said that RoI in infrastructure could only be achieved in major cities where there is relative stability and a ready market. At the forum with the theme: “The Future…
The three tiers of government shared a total of N1.1 trillion as revenue allocation for August. The Director of Press and Public Relations, Office of the Accountant-General of the Federation, Bawa Mokwa, disclosed this in a statement issued at the end of the Federation Account Allocation Committee (FAAC) in Abuja recently. He said the funds comprised statutory revenue of N357.398 billion, distributable Value Added Tax (VAT) revenue of N 321.941 billion, Electronic Money Transfer Levy (EMTL) revenue of N14.102 billion, Exchange Difference revenue of N 229.568 billion, and Augmentation of N177.092 billion. Mokwa said: “A total revenue of N1483.902 billion…
PwC Nigeria, leading professional services firm, has projected a 2.8 per cent economic growth rate for Nigeria in 2023 and three per cent in 2024. In its latest Nigeria economic outlook on Wednesday, PwC said this marginal growth projection may be due to the emerging effects of the implementation of domestic fiscal reforms by the ministerial and economic management team of the country. “The fastest growing sectors were utilities (31.8 per cent), financial services (26.8 per cent), information & communication (8.6 per cent), and construction (3.4 per cent),” the report said. It said the growth in the activities of the…
Akonte Ekine, Chief Analyst BrandXchange, convener of the Consumers Value Awards in this interview speaks with the media after the successful hosting of the second edition of the Consumers Value Awards. Congratulations on successfully hosting the second edition of the Consumers Value Awards. Can you share with us your initial vision when you first conceptualized these awards, and how you feel about reaching this milestone? Thank you, the media should be commended for playing such a huge role in sharing the messages with the consumers. The vision is to simply bring to the fore the consciousness of consumer rights and…