Category Archives: Payment

Mobile Money in Nigeria: Operators, Opportunities and Trends

Recently I started seeing a spike in the number of inquiries made by friends, fintechs, and random other people about Mobile Money in Nigeria. And it’s not because they are suddenly having altruistic ideas for financial inclusion. Something must be cooking! Let’s get the basics right Mobile money is a form of banking where your […]

Why Nigerian banks will never lend you a dime

We all go broke at different times, and the natural thing would be to turn to our bankers. After all, we have been putting our meager savings in there for a while; and one good turn deserves another, right? Wrong! You are probably rolling your eyes now because we all know that Nigerian banks hardly […]

Whatsapp banking is bad news

A few weeks ago, Access Bank, First Bank, UBA, and ABSA in South Africa came to the market to inform everyone they would be rolling out Whatsapp banking in a few weeks. The announcements came with so much fanfare I thought a new king of Africa was being announced. Access Bank’s body dey catch. They launched their Whatsapp banking yesterday to consternation […]

Three reasons why current accounts are for dinosaurs

When I started working as a new hire, one of the things shoved down my long throat was my salary account, which was a current account. I didn’t know my left from my right as the account was free to use so all the complaints of charges that customers were screaming about were like cold […]

Only Free Interbank Transfers Can Fix Financial Inclusion in Nigeria

Financial inclusion is a buzzword, but it’s also a real issue for third-world countries. Many things have been thrown at it, including the kitchen sink. As far as Nigeria is concerned, nothing seems to be working. Nevertheless, I believe that significantly reducing the cost of transactions, up to the point of free transfers, will break […]