The measures include a moratorium of one year on all principal repayments as well as interest rate reduction on all applicable CBN intervention facilities from nine to five percent per annum for one year effective 1 March, 2020.
The Central Bank of Nigeria has announced its first set of policies to cushion the negative impact the deadly Coronavirus on Nigerian businesses and economy.
In March 2020, the Central Bank of Nigeria released Guidelines for the Implementation of the NGN 50 Billion Targeted Credit Facility aimed at providing succor to households and MSMEs that have been adversely affected by COVID-19.
Use of contactless mobile payments — services that once struggled to catch on in the U.S. — is surging as people come to see their phones as the safer way to pay.
Consumer use of mobile finance, banking and insurance apps jumped 71 percent in 2019. In 2020, however, they’ve gone from nice-to-have to essential.
Grameen America Launches Economic Relief and Recovery Fund for Low-Income, Women Small Business Owners in the Wake of COVID-19
Grameen America announced the launch of Grameen America Economic Relief and Recovery Fund, with the goal of raising $72 million to provide essential capital and support to the low-income women entrepreneurs.
More U.S. banks and credit unions will be allowed to estimate the international remittance fees they charge consumers in instances when it may be too expensive to provide exact figures under a new rule issued on Monday.re