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eNaira is a Central bank digital currency issued and regulated by the Central Bank of Nigeria. [1] It was the first of its type in Africa. [ 2 ] Denominated in naira , the eNaira serves as both a medium of exchange and a store of value and claims to offer better payment prospects in retail transactions when compared to cash.
Zenith Bank Plc is a major financial services provider in Nigeria and Anglophone West Africa, headquartered in Victoria Island, Lagos. It is licensed as a commercial bank by the Central Bank of Nigeria , the national banking regulator.
This is the Central Bank of Kenya's list of Licensed Microfinance Banks, updated in August 2024. [3]Caritas Microfinance Bank Ltd; Branch Microfinance Bank Ltd
Digital wallet systems enable the widespread use of digital wallet transactions among various retail vendors in the form of mobile payments systems and digital wallet applications. The M-PESA mobile payments system and microfinancing service has widespread use in Kenya and Tanzania , [ 6 ] while the MasterCard PayPass application has been ...
SBM Bank (Kenya) is a privately held institution. It is a subsidiary of Mauritian based SBM Holdings. One other shareholder is the private equity firm Duet Group of the United Kingdom, which acquired its shareholding in March 2016 for KSh1.9 billion (approx. US$19 million).
The Bill and Melinda Gates Foundation warned in 2013 that lack of competition could drive up prices for customers of mobile money services and used M-PESA in Kenya as a negative example. According to the Foundation, a transfer of $1.50 cost $0.30 at the time, while the same provider charged only a tenth of this in neighboring Tanzania, where it ...
The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. [3] The major regulatory objectives of the bank as stated in the CBN Act are to: maintain the external reserves of the country; promote monetary stability and a sound financial environment, and act as a banker of last resort ...
The naira (sign: ₦; code: NGN; Yoruba: náírà, Hausa: نَيْرَ, romanized: naira, Igbo: naịra, Tyap: nera) is the currency of Nigeria.One naira is divided ...