Nigeria is one of the most populous countries in Africa, with a booming economy and a diverse financial sector. The banking industry in Nigeria is one of the largest in Africa, with a mix of local and international banks serving the country’s growing population. So, how many banks are in Nigeria exactly? As of 2023, … Read more
Neteller is an electronic money transfer service that allows you to do special transactions like withdrawals, deposits, cryptocurrency payments, and general online payments. Neteller is one of the most popular electronic money transfer services in the world and is used by millions around the globe one of the best things about the Neteller service is … Read more
Just as the name implies, a savings account is an account designed for the purpose of saving. It is a bank account where you can deposit your money and save it while earning some interest on it. However, the interest you earn is determined by the amount of money you have in the account. If … Read more
From time to time, we face challenges that make us need more money than we can earn at the given time. In cases like this, a loan is the most ideal way to seek funding especially if you’re asking a financial institution, and not just a relative or friend. While that’s the case, most banks … Read more
Banking and finance companies primarily use numbers to encode and store details and transaction records of their clients. Aside from the obvious issue of two clients having similar names, it helps them properly manage transactions by allocating unique transaction IDs tied to dealings within the account. Among these numbers is the Primary Account Number (PAN), … Read more
The “richness” of a bank is majorly determined by its assets both in its country of operation and other countries. So the more assets a bank has, the more “richer” it will become. Nigeria has more than 20 commercial banks that has been fully licensed by the Central Bank of Nigeria (CBN) to operate in … Read more
The Central Bank of Nigeria introduced the Bank Verification Number (BVN) – a biometric identification system – in 2014 for the unique identification and verification of each bank account holder in Nigeria. The major purpose of BVN is to curb or reduce illegal banking transactions among Nigerian banks. Kuda Bank is Nigeria’s foremost online bank … Read more
An ATM card allows the user to withdraw money from both his/her bank’s ATM and other banks’ ATMs. This card also allows the users to carry out other financial transactions both on ATMs and online. It’s part of the account opening norm for conventional banks to issue an ATM card to its new customers – … Read more
Founded by Babs Ogunseyi and Musty Mustapha in 2016, Kuda Bank is Nigeria’s foremost online-only bank. It functions almost the same way as the regular banks in Nigeria do with the exception that the bank does not have any physical branch – all operations are fully online. Valued at $500 million, Kuda Bank has been … Read more
PayPal is the biggest and most extensively used online payment platform that works in many countries around the world. But for some years now, it has been difficult using PayPal in Nigeria and this has been a cause for concern for people who frequently make and receive payments online — even though there are alternatives. … Read more
Many people take loans of various amounts for different purposes. While some take their loan from loan apps and other lenders, others obtain their loans from banks. The major reason many people take loans from conventional banks is because of the low-interest rate. The conventional bank we have in focus here is Zenith Bank which … Read more
Western Union transfer provides financial services that enable people to send and receive money from more than 250 countries and Western Union locations across the world. With over half a billion agents worldwide, annual transfers worth over $80 billion, and an average of 31 safe, secure transactions every second, one can see why Western Union … Read more
Aside from the popular international money transfer agencies (like Western Union, MoneyGram etc.), not a lot of people who send and receive funds from international sources know about Ria money transfer. With over 30 years in the industry and with a presence in over 137 countries including Nigeria, Ria is one of the biggest money … Read more
Kuda Bank revolutionized and simplified banking services in Nigeria. The bank does this by giving verified users an account number and allowing them to carry out financial transactions all on their smartphone with the Kuda app. You can send and receive money, pay for utilities, and even take a loan through the mobile app. But … Read more
A USSD code is a short code that allows you (as a user or customer) to subscribe to or apply for a particular service offered by a service provider. This service is usually network-enabled and the service provider could be banks, telecommunication companies, or other entities. Kuda Bank is an online, digitized bank that offers … Read more