Kwara goes cashless in July

The Central Bank of Nigeria (CBN) says cashless financial services will commence in Kwara on July 1.

The Acting Governor of CBN, Dr Sarah Alade, made this known on Tuesday in Ilorin during a stakeholders forum and sensitisation exercise on the apex bank’s cashless policy.

She said that the sensitisation programme would be extended to both the formal and informal sectors.

Alade, in a keynote address, said six states and Abuja, the Federal Capital Territory, had started the implementation of cashless policy.

Mr Sunday Olatewo, the Branch Controller of CBN in Ilorin, who represented Alade, said the bank and the Nigerian Bankers Committee inaugurated a study in 2010 to identify ways of enhancing service delivery in the nation’s financial sector.

Zenith to partner CBN to deepen financial literacy in the country

The management of Zenith Bank plc, a first tier commercial bank in the country says it will continue to partner the Central Bank of Nigeria (CBN) to realize its financial literacy programme geared towards inculcating good financial habits in children and youths.

Consequently, the bank has developed special products to help children and youths to begin to imbibe the culture of savings and investment.

Some of these products include Zenith Children Account (ZECA), Zenith integrated Account, classic and platinum savings accounts.

Austin Njoko, general manger, Zenith Bank plc, Southeast/South south regions, who revealed this in Aba, Abia State, at the maiden edition of the Child Youth Finance Fair/Exhibition, organised by the bank in conjunction with the CBN, applauded the apex bank for initiating the programme, which he observed would deepen financial inclusion in the country.

Nigerian banks in conjunction with Nigeria Interbank Settlement Scheme (NIBSS) have commenced a communication awareness campaign to enlighten Nigerians

Nigerian banks in conjunction with Nigeria Interbank Settlement Scheme (NIBSS) have commenced a communication awareness campaign to enlighten Nigerians on the benefits of e-payment platforms, urging them to adopt these payment options.

The e-payment platforms, including Point of Sale (POS) and Instant Payment platforms, they explain, have benefits of convenience, safety and receipt of instant value enabling people to make payments for their transactions using any of their electronic devises such as ATM cards, mobile phones, Laptops, desktops, notebooks, I-Pads, etc.

The banks emphasise that these platforms are the best options for payments for business transactions due to their safety, reliability and efficiency, adding that this is necessary given the attendant security issues with making payments through cash transactions.