Tech key for Nigerian banks

Nigerian banks would need to step up their game by improving on technology in order to widen the financial space and reach out to the unbanked, reports Next.

This is especially so at a time when the Central Bank of Nigeria (CBN) is making effort to boost electronic payment and mobile banking.

Meanwhile, the organised labour in the banking industry has condemned the statement of the CBN on the financial health of the rescued banks, saying the apex bank is “playing to the gallery, reveals Vanguard.

“Labour said that it has taken a holistic examination of recent policy pronouncements by the Mallam Sanusi Lamido Sanusi-led management of CBN and declared that the policies are anti-Nigerian economy that must be halted before they cripple the economy.

According to Modern Ghana, credit cards are just as unsafe as the ATMs because many people have access and can steal customers' private codes at the terminal end of purchases or services.

Nigeria is not only notorious as one of the most corrupt nations on earth, several chief executives of banks and their wives are being prosecuted at the moment for stealing their banks sick to the tune of billions of naira.

Nine out of 24 Nigerian banks are stressed almost beyond rescue right now by their chief executive scoundrels and we do not know how many of the banks would survive even three months from now.