The National Cash Transfer Company piloted the Door to Door Payment method as a response to the new challenging context and a preventive measure for coronavirus-related risks.

Mobile money firms across Africa are ramping up plans to bring banking to millions after the pandemic caused a surge in the use of digital financial services.

This initiative follows the Central Bank of Nigeria (CBN) directive to enable global money transfers to be paid in US Dollars in an effort to streamline and increase the flow of formal diaspora remittances into Nigeria.

A microfinance institution, Citygate Global, has unveiled a multi-purpose mobile loan application, Monéé, which was designed to also cater for loan, savings, funds transfer services, investment, bill payment and others.

Experts have called for the restructuring of loan facilities in Nigeria, to alleviate the adverse effects of some government policies on women.

The collaboration enables UNFCU members to transfer money to mobile wallets in select countries in local currencies.

Cash transfers from Yemenis abroad to their country have declined by 80 percent in the first four months of 2020, Oxfam announced on Thursday.

IFC announced a $50 million loan to Nigeria’s First City Monument Bank (FCMB) Limited to help it expand lending to small and medium enterprises (SMEs) so they can sustain business activities disrupted by the COVID-19 pandemic.

The World Bank estimates that one in ten people in Yemen wholly rely on money transfers to meet their basic needs. Remittances to Yemen in 2019 totaled $3.8 billion - 13% of GDP.

As part of measures to cushion the impact of the coronavirus pandemic, the Chief Executive Officer of FirstBank Nigeria, Dr. Adesola Adeduntan, has disclosed that banks are currently offering customers access to low interest funds.