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70m Active Mobile Line Owners Have No Bank Accounts – eTranzact

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The Chief Executive Officer of eTranzact International Plc., Mr Niyi Toluwalope, has said that about 70 million active mobile line owners in Nigeria do not have bank accounts.

Toluwalope made the disclosure at the Capital Market Correspondents Association of Nigerian (CAMCAN) 2021 Annual Workshop held on Saturday in Lagos.

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The eTranzact boss said that 150 million of Nigeria’s 200 million population owned mobile phone lines, 110 million owned 150 million mobile phone lines but only about 40 million had active bank verification numbers.

Toluwalope said that there was the need to close the gap, especially as regards small and medium enterprises.

READ ALSO: FG Approves COVID-19 Vaccines Booster For Nigerians

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He spoke on: “Technology as a Tool for Financial Inclusion in Nigeria: A Fintech Approach”

He said that financial inclusion was important to the capital market industry.

According to Toluwalope, financial inclusion is an important component for enabling group.

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He said: “Financial inclusion holds the answers to how we increase the participation of retail investors, how we encourage more homegrown businesses, leverage the capital market for growth and the informal sector participation in the capital market.

“The role of technology cannot be overemphasised.

“Over the past few years, technology has allowed more people to gain access to financial services, and that has increased by default, the customer base of capital market operators.

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“Essentially, the rise of digital financial services means growth for the capital market.”

Toluwalope said that utilisation of technology would democratise capital market access and participation.

“We can directly expand the current digital savings and investments offerings to leverage the capital market for increased returns,” he said.

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He added that for financial inclusion to thrive, the sector would need collaboration of players in the private and public sectors.

He noted that the Central Bank of Nigeria as well the Securites and Exchange Commission (SEC) had taken a number of steps to drive financial inclusion.

The News Agency of Nigeria (NAN) reports that the workshop had a panel session during which representatives of the Nigerian Exchange (NGX) Ltd., FMDQ Exchange, SEC and stockbrokers pledged to continue to fashion out ways to tackle ponzi scheme activities.

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READ ALSO: BREAKING: Riot In Osogbo Over Alleged Killing Of Truck Driver By Police

The workshop was sponsored by Flour Mills of Nigeria, United Bank for Africa, Access Bank, Zenith Bank, NGX, FMDQ and SEC, among other organisations.

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Russia Blacklists Yale University In Latest Crackdown

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Russia has labelled Yale University an “undesirable organisation”, authorities said Tuesday, part of the Kremlin’s crackdown on critics that has accelerated during Moscow’s campaign in Ukraine.

Being declared “undesirable” effectively bans entities from operating in Russia and makes anyone who works with them liable to prosecution.

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According to the prosecutor general, Yale’s activities were aimed at “violating territorial integrity of the Russian Federation, imposing an international blockade on the state and undermining its economic foundations.”

The prosecutors singled out Yale’s School of Global Affairs, accusing it of preparing opposition activists to organise protests in the country.

READ ALSO: Russian Strikes Kill 16 In Kyiv

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President Vladimir Putin’s top contender, late opposition activist Alexei Navalny who died in prison in unclear circumstances in February 2024, was among the school’s fellows.

The US university joins international organisations and nonprofits such as Amnesty International, British Council, Greenpeace, Elton John’s AIDS Foundation which Moscow has labelled as undesirable.

Russia has also put on the list independent media outlets such as Radio Free Europe/Radio Liberty and Meduza.

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Man Dies After Being Sucked Into Plane Engine

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A man died after being sucked into the engine of a plane preparing to take off at Bergamo Airport in northern Italy Tuesday, an airport spokesperson told AFP.

The victim, who was “neither a passenger nor an airport employee”, forced his way onto the runway, where he was “pursued” in vain by airport security, according to the spokesperson for airport management company SACBO.

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According to Italy’s Corriere della Sera daily, the man — in his thirties — burst into the airport, then used an emergency exit to rush onto the runway toward an aircraft preparing for take-off.

Earlier in the day, Spanish airline Volotea wrote on social media that its flight from Bergamo to Asturias in Spain was involved in an “incident” at 10:35 am (0835 GMT).

READ ALSO: Former UK PM Rishi Sunak Joins Goldman Sachs As Advisor

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One person not onboard and not affiliated with the company was seriously injured. All 154 passengers and six crew are safe,” it said on X.

We are doing everything possible to support the affected passengers and crew, providing them with psychological support, while working in close coordination with the Italian authorities.”

The plane was an Airbus A319, according to tracking website Flightradar24.

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Flights were suspended at Bergamo Airport, Italy’s third largest by passenger volume, following the incident, but resumed at midday, according to SACBO.

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Full List: 3 African Countries Ranked Among World’s Best Countries

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Three African countries: Egypt, Morocco, and South Africa have earned spots among the world’s top-ranked countries in the 2024 Best Countries Rankings, published by U.S. News & World Report in collaboration with the Wharton School of the University of Pennsylvania and global marketing firm WPP.

According to the report, Egypt leads the continent at 35th globally, followed by Morocco at 39th and South Africa at 40th.

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The rankings are determined not by economic statistics alone but by global perceptions.

Over 17,000 people—including business decision-makers, university-educated elites, and general citizens—evaluated 87 countries across 73 different attributes, grouped into ten key categories: Adventure, Agility, Cultural Influence, Entrepreneurship, Heritage, Movers, Open for Business, Power, Quality of Life, and Social Purpose.

READ ALSO: Top 10 Countries With The Fastest Internet Speed In 2025

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To qualify for inclusion, countries needed to meet certain thresholds in GDP, tourism, and foreign direct investment (FDI). Final scores were correlated with GDP per capita (PPP), providing a snapshot of a nation’s perceived prosperity and global standing.

This project is based on a proprietary perceptions survey that reaches thousands of citizens across the globe,” said Elliott Davis, a reporter for U.S. News & World Report.

How a nation is viewed by others can play a big role in its global standing.”

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Switzerland took the top spot for the third consecutive year, praised for its stability, entrepreneurship, and high quality of life.

READ ALSO:Top 10 Countries With The Fastest Internet Speed In 2025

“It’s no surprise that a stable, consistent country like Switzerland would top our rankings seven times in nine years,” Davis added.

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The United States made its highest-ever appearance in the rankings at third, driven by improvements in its “Open for Business” and “Movers” subrankings, while Japan claimed second place for its innovation, influence, and advanced economy.

Other noteworthy shifts included China, which rose to 16th, and Ukraine, which fell 12 places to 80th—the biggest drop in this year’s report.

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