Step, a teen-focused US banking service, has raised $100 million in a Series C funding round led by General Catalyst, and payment platform Stripe. Other investors include celebrities Will Smith, Jared...
The People’s Bank of China said on Friday that it would cut the reserve requirement ratio (RRR) by 50 basis points for all banks. The new order is set to take effect from July 15.“We think this br...
Nigerian finance service provider, CrowdForce recently announced that it had closed $3.6 million in pre-Series A funding, including $1 million in debt. Aruwa Capital Management led the round. Othe...
First Bank of Nigeria Limited, Nigeria's primary and leading financial inclusion services provider, has announced a US$100 million finance facility with CDC Group, the UK Government's developmen...
Over the weekend, the cyberwar in Ukraine heated up as the cyber hacking group Anonymous entered the scene, declaring war "against the Russian government." The group has already claimed respons...
Wells Fargo said on Friday that its second-quarter earnings fell 48% from the same period last year as a result of the bank setting aside money for bad loans and being hurt by decreases in its equ...
The Nigerian FG under the Federal Competition and Consumer Protection Commission (FCCPC) has demanded tech giant Google to take down four loan apps that are being used for questionable practi...
The term cumulative, or combined, loan-to-value (CLTV) ratio is used to calculate the total debt on a portion of commercial real estate property in relation to the value of the entire property....
To enhance Nigeria's payment system, the Central Bank of Nigeria (CBN), Nigeria Inter-Bank Settlement Systems (NIBSS) Plc, and Bankers' Committee have jointly announced a new national card scheme....
Fintech has become a buzzword in Nigeria's financial sector, with new startups launching daily to disrupt traditional financial services. These fintech firms offer innovative solutions to the ag...