Category Archives: Nigeria

The Myth Around Literacy and Financial Inclusion

According to EFInA (Enhancing Financial Innovation and Access), Financial Inclusion is “the provision of a broad range of high-quality financial products, such as savings, credit, insurance, payments and pensions, which are relevant, appropriate and affordable for the entire adult population, especially the low-income segment” (EFInA, n.d., p1). It requires that financial services (bank accounts, credit, […]

The Absence of Legal Infrastructure is the Bane of Consumer Lending

Adedeji Olowe, CEO of Trium Networks Limited Babatunde Makanjuola, Coronation Merchant Bank Limited   If you ask the average Nigerian about his/her understanding of infrastructure, you are likely to get a response that depicts something tangible, e.g., airports, railways, roads, etc. This is not wrong; however, it is not exhaustive. By definition, Infrastructure is the […]

Core Banking Software used by Microfinance Banks (MFB) in Nigeria

This article was inspired by comments on a related post written by one of my industry mentors. (https://dejiolowe.com/2016/03/core-banking-software-in-nigeria-2/) To put this into perspective, a core banking application (CBA) is to a Microfinance Bank what a foundation is to a building. This means MFBs with a comprehensive, automated and effective CBA guarantees profitably, operational efficiency and […]

10 predictions for digital payments in 2019

2018 was an exciting year for payments in Nigeria. Tons of cash came in as international investments; interbank transfer crossed 700 million transactions, even mCash had a little showing. Of course, the bitcoin bubble made a loud burst with many licking their wounds. As usual, the following are my 10 predictions for 2019. They are […]

I didn’t do too bad predicting digital payments for 2018

Last year, I wrote about 10 predictions for digital payments in 2018 (better to read this first). Looking back, I can assure you, my career as a seer hasn’t been as illustrious as I planned it to be. So how bad am I? Let’s take a look at how I scored myself. Alat gets a (bigger) […]