Every year, financial institutions around the world post voluminous profits even when there is poverty or when there has been no significant change in the poverty level. Economically, the fact that financial institutions are making more profits does not translate to poverty reduction. But it is baffling that even when there is hunger, economic difficulties, […]
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A Tier-1 bank account or level-1 bank account is a type of bank account that can be opened with minimal or no form of documentation. Tier-1 bank accounts can be opened with a passport photograph and phone number. This category of bank account is popular among unbanked nations such as Nigeria to bring them under
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From outright ban to hefty fines worth billions of U.S. dollars, Binance continues to face harsh regulatory challenges around the world, making it difficult to make its services available in the affected locations. The largest cryptocurrency exchange by volume experienced a push back recently in Africa’s largest crypto market, Nigeria, and in the United States,
List of Countries Where Binance Exchange Faced Regulatory Sanctions Read More »
The Foreign Exchange Trading Licences of Guaranty Trust Bank Ghana Limited (GTB) and FBNBank Ghana Limited have been suspended for a month over breaches of the country’s foreign exchange regulations. In a statement obtained by infomediang.com, the Bank of Ghana (BOG) says the suspension of the FX trading of the two Nigerian-owned banks is for
Bank of Ghana Sanctions GTB, FBN Over Fraudulent FX Documentation Read More »
The recent guideline by the Central Bank of Nigeria (CBN) says your bank account will be blocked if you fail to link it to your National Identification Number (NIN). Even though you already have your Bank Verification Number (BVN), the apex bank is saying your NIN and BVN have to be linked to your financial
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To some people, cryptocurrency investment is the new oil-money, but it comes with lots of risks and the major challenges facing it is scams, which come in different forms. Research indicates that existing scams persist, albeit with modified tactics aimed at deceiving cryptocurrency holders, especially during the Bitcoin boom. For instance, scammers may be particularly
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A degree is okay to practice as a stockbroker, but most employers in the United States, United Kingdom, and Nigeria would prefer a degree holder in Economics, Finance, Accounting, Banking and Finance, Marketing, and Business Administration plus a professional certification. The body that issues the professional certificate to stockbrokers varies from country to country. Here
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If you have taken a loan from a financial institution and are unable to repay or fail to fulfill the repayment obligations due to circumstances beyond your control, that constitutes a bad loan. Definition Also referred to as bad debts, bad loans arise when the borrower no longer pays loans they obtained from a bank or
Types of Bad Loans and Their Impact on the Lender and the Borrower Read More »
A stockbroker is a person or company that buys and sells stocks and other investments to individuals, companies, and other financial market participants in return for a commission or fee. They act as a financial advisor and investment manager. Their Roles Investment advisor They provide investment advice to their clients. Not just advice, but must
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Bank Identification Number (BIN) is the first six to eight digits on a credit or debit card, which can be found either on the front or back of the card. Also known as Issuer Identification Number (IIN), the BIN is used to identify the financial institution that issued the card. It plays an important role
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