Nigeria and digital banking: A revolution still waiting to happen

At the end of 2022 the Central Bank of Nigeria launched new banknotes. At the same time it also capped withdrawal of the new banknotes. The rollout of the currency change was shambolic. But it also led people to turn to digital ...

Digital finance doesn't reduce inequality; it perpetuates it

A new paper in Oxford Open Economics, published by Oxford University Press, indicates that, while digital financial services are often proposed as a vehicle to lower inequality, the cost and infrastructure barriers to accessing ...

Cell phones, biometrics fuel jump in bank account ownership

Roughly seven out of every 10 adults worldwide now have some form of bank account, the World Bank said Thursday, largely due to the proliferation of cell phone-based bank accounts and other simple bank account programs in ...

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