Business News Roundup From May 13 - May 19, 2023

Welcome to the AllNews roundup of the 5 Latest Business News that made the round last week.

Reasons Why Your Bank Account Is Not Safe

As the number of bank customers keeps increasing, those of fraudsters/ hackers on the hunt for people's account details are also on the rise.

Unfortunately, the more customers try to protect their information, with passwords, the more hackers dig deep and find means to hack bank accounts. Read more here.

The National Pension Commission (PenCom) has approved 26 commercial banks from the Central Bank of Nigeria as its mortgage lenders.

It also listed three non-interest banks to provide residential and commercial mortgages to workers under the Contributory Pension Scheme to access 25 per cent of the Retirement Savings Account for mortgage. Read more here.

FCMB Partners Mastercard To Unveil New Payment Solution

First City Monument Bank (FCMB), in partnership with Master Card and Netplus, have launched a contactless payment solution that allows consumers, merchants, and financial institutions to process payments seamlessly using Tap on Phone.

Ebehijie Momoh, the Country Manager and Area Business Head of West Africa at Mastercard,  who spoke during the launch on Tuesday in Lagos said the payment solution would facilitate trade in the country. Read more here.

Kano Agency Gets 30 Traffic Control Shelters From Inverter Company

30 traffic control shelters have been donated to Kano State Road and Traffic Agency (KAROTA) by Genus Inverter Company to enhance safety on the road.

Adeyemi Olanrewaju-Isma'il, a representative of the company, handed over the traffic shelters to the agency in Kano on Tuesday. Read more here.

Private Sector: Loans From Banks Rise By Three Per Cent

The amount of loans issued to the private sector by the banking industry has increased by 3.14 per cent within one month from N41.754 trillion in February this year to N43.066 trillion at the end of March. 

This is as net credit to the government declined by 3.17 per cent from N28.431 trillion in February to N27.529 trillion at the end of March 2023. Read more here.

These are the latest Business news that made trends during the week. Visit our website https://allnews.ng for more Business news around the world.