The Central Bank of Nigeria earlier this month reportedly granted its approval to allow FirstBank Nigeria PLC to offer mobile-payment services in the East African country.
Under its model, FirstBank plans to collaborate with other organizations to deliver mobile-payment services to customers, according to local media reports.
FirstBank did not respond to PaymentsSource requests for comment.
What do you think about this? Send us your feedback.
The largest banks have increased their venture capital investments in AI startups by 21% over the past two years. They're looking to "co-shape" technology so that it meets their needs.
Cryptocurrencies and stablecoins — popular topics following the passage of the GENIUS Act — got less attention last week from big-bank CEOs.
Wells Fargo CEO Charlie Scharf said bankers and economists are broadly against lowering interest rates now, given uncertainty from the Iran war.
Banks are pushing back on the Consumer Financial Protection Bureau's draft of a five-year strategic plan, which includes a notable pullback from supervising nonbanks.
U.S. banks must navigate conflicting signals as Iran's crypto toll demands and rising pig butchering scams exploit the same stablecoin and correspondent banking rails.
The RTP rail joins FedNow and digital asset firms in the quest to add speed for cross-border settlement.
