Nigeria promotes domestic telecom infrastructure production

The USSD service will allow PalmPay customers to conduct transactions without connecting to the internet.

The telecom provider said this deal will simplify and strengthen MoMo PSB operations.

The Central Bank of Nigeria instructed banks and other financial institutions this week to apply a 0.5 percent cyber security fee on all electronic transfers.

According to the Nigerian Communications Commission, cyber-crime costs the country $500 million per year, and includes hacking, identity theft, cyber terrorism, harassment, and internet fraud.

The Nigerian government has since directed relevant regulatory bodies to start work on developing regulatory instruments for deployment of the technology.

The mobile operator reported an expansion in return on equity to 23.4% and a 10% increase in the dividend to 330 cents per share in full year results 2022.

Between October and December 2022, the value of mobile-money transactions jumped by 25% to 2.5-trillion Naira.

MNOs, banks in Nigeria have reached an agreement with the NCC.

New CBN rules allow beneficiaries to withdraw funds in USD to boost formal remittances to Nigeria

Nation has become the twentieth in Africa to adopt the system for both local and global use.

Governor of Akwa Ibom State, Godswill Akpabio, lauds the Central Bank of Nigeria’s 2020 cashless vision.