Event Name: International Islamic Microfinance Seminar
Event Date: July 1-2, 2013
Event Location: Nanet Suites, Abuja, Nigeria
Search Results for: nigeria
MICROCAPITAL BRIEF: MasterCard Introduces “SME Online” Internet Payment Solution in Nigeria
US-based payment solutions company MasterCard reportedly has introduced a new internet payment service called “SME Online” for small and medium-sized enterprises (SMEs) in Nigeria.
MICROCAPITAL BRIEF: Hasal Microfinance Bank of Nigeria Leases $37k in Farming Equipment to Integrated Rice Farmers Association
Hasal Microfinance Bank Limited, a Nigerian microfinance institution (MFI), reportedly has provided NGN 6 million (USD 37,900) in asset financing to the Integrated Rice Farmers Association of Nigeria, a group of rice farmers based in the Nigerian state of Nassarawa, for farming equipment intended to boost productivity.
MICROCAPITAL BRIEF: Nigeria’s Mutual Benefit Assurance Plc. Establishes Microfinance Bank In Effort to Drive Microinsurance
Mutual Benefit Assurance Plc, a Nigeria-based provider of insurance and other financial services, recently announced that it has established a microfinance bank (MFB) to promote its microinsurance offerings, which carry premiums as low as NGN 50 (USD 0.30) per three day period covering up to NGN 100,000 (USD 600) in hospital expenses and in the event of loss of life.
MICROCAPITAL BRIEF: Nigeria Deposit Insurance Corporation to Bailout Microfinance Institutions, Primary Mortgage Banks
The Nigeria Deposit Insurance Corporation (NDIC), a quasi-independent agency of the federal government that insures deposit-taking financial institutions, recently announced that it will grant an undisclosed amount of financial assistance to distressed microfinance banks (MFBs) and primary mortgage banks (PMBs) recently closed by the Central Bank of Nigeria (CBN).
MICROCAPITAL BRIEF: Virtual Terminal Network’s (VTN’s) VCash to Allow Mobile-phone Access to Western Union Money Transfers in Nigeria
Virtual Terminal Network (VTN), a Nigerian mobile payment company, is reportedly partnering with Western Union Company, a US-based financial services company, to allow VTN customers to deposit Western Union money transfers directly into their VTN VCash accounts for access via their mobile phones.
MICROCAPITAL BRIEF: Central Bank of Nigeria Agrees to Extend Deadline for Smaller Microfinance Banks to Raise Capital Until December 2013
The Central Bank of Nigeria (CBN) has agreed to extend the deadline by one year for microfinance banks (MFBs) to recapitalize as needed to avoid closing branches to comply with CBN’s regulatory framework that was revised in 2011 to limit the number and locations of branches MFBs can operate based on their level of capital.
MICROCAPITAL BRIEF: Nigerian State of Borno to Pilot National Financial Inclusion Initiative Via Post Offices
The federal government of Nigeria, the Central Bank of Nigeria (CBN), the government of the Nigerian state of Borno and several other organizations reportedly have launched a financial inclusion initiative that will provide financial services to the un-banked at post offices.
MICROFINANCE PUBLICATION ROUND-UP: Banking on Change Partnership for Financial Inclusion in Africa; Findings on Financial Inclusion in Nigeria; Snapshot of Microfinance in Latin America and the Caribbean
“Banking on Change: Breaking the Barriers to Financial Inclusion;” published by Plan UK, Barclays and Care International UK; January 2013; 28 pages; available at: http://www.careinternational.org.uk/research-centre/microfinance/251-banking-on-change-breaking-barriers-to-financial-inclusion
MICROCAPITAL BRIEF: Central Bank of Nigeria (CBN), National Association of Microfinance Banks to Establish Technical Committee to Address Implication of Microfinance Policy, Including Recapitalization of MFBs
The Central Bank of Nigeria (CBN), the country’s central bank, and the National Association of Microfinance Banks (NAMB), a trade group of 820 microfinance banks (MFBs) in Nigeria, recently agreed to establish a technical committee to address the recapitalization and other steps that some MFBs must undertake to comply with the Revised Microfinance Policy Framework that took effect January 1.
MICROCAPITAL BRIEF: Central Bank of Nigeria Implements 3-Tiered Know-Your-Customer Requirements for Financial Institutions
The Central Bank of Nigeria (CBN), the country’s banking regulator, has introduced a three-tiered set of “Know Your Customer” (KYC) requirements for financial institutions that is intended to improve financial inclusion.
MICROCAPITAL BRIEF: Smaller Microfinance Banks in Nigeria Want 2 More Years to Raise Capital or Close Branches
The National Association of Microfinance Banks (NAMB), a trade group of 820 microfinance banks (MFBs) in Nigeria, reportedly issued a statement calling for a deadline extension for the implementation of the revised Microfinance Policy Framework, the regulatory guidelines established in August 2011 by the Central Bank of Nigeria (CBN), the country’s apex bank.
MICROFINANCE EVENT: AITEC Banking & Mobile Money West Africa, March 13-14, 2013, Lagos, Nigeria
Event Name: African Information & Communication Technology Exhibition & Conference (AITEC) Banking & Mobile Money West Africa 2013: Consolidating and Monetizing the Gains of Innovation
Event Date: March 13-14, 2013
Event Location: Lagos, Nigeria
MICROCAPITAL BRIEF: Central Bank of Nigeria Allows States to Set up Microfinance Banks, Supports Entrepreneurship Development Centres in Beneu, Borno, Cross River
The Central Bank of Nigeria (CBN), the country’s banking authority, reportedly has amended its microfinance guidelines to permit state governments to establish microfinance banks.
MICROCAPITAL BRIEF: Rejecting Kenya’s M-Pesa Model, Central Bank of Nigeria Bars Telecommunications Companies from Becoming Licensed Mobile Money Operators
The Central Bank of Nigeria (CBN), the country’s central banking authority, reportedly has decided that telecommunications companies will not be allowed to become licensed mobile money operators for fear that they will limit competition within the industry.
MICROCAPITAL BRIEF: Nigeria’s Bank of Industry (BOI) to Set Up Microcredit Fund for Microentrepreneurs in Effort to Promote Financial Inclusion
The Bank of Industry (BOI), which was established by the Nigerian government to promote the industrial sector in Nigeria, recently announced plans to establish a microcredit fund to assist microentrepreneurs in an effort to promote financial inclusion and reduce the risks associated with the small and medium-sized enterprise (SME) industry.
MICROCAPITAL BRIEF: Cross River State of Nigeria, Bank of Agriculture to Establish $1.27m Loan Fund for Small and Medium-Sized Enterprises (SMEs)
The government of The Nigerian State of Cross River reportedly has signed a memorandum of understanding with the Bank of Agriculture, a development finance institution owned by the federal government of Nigeria, to raise NGN 200 million (USD 1.27 million) for a loan fund to support agricultural small and medium-sized enterprises (SMEs) in the state.
MICROCAPITAL BRIEF: Nigeria’s Corporate Affairs Commission (CAC) Threatens to Shut Down Microfinance Banks That Fail to Meet International Financial Reporting Standards (IFRS) During 2013
Nigeria’s Corporate Affairs Commission, an independent regulatory body, reportedly has warned microfinance banks (MFBs) in the country that they risk being shut down in 2013 if they do not adhere to the International Financial Reporting Standards (IFRS), a set of standards meant to harmonize accounting practices globally.