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Showing posts with the label digital Banks

SteveSkills: Why I switched my Opay balance to Owealth balance.

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If I'm the one that opened your Opay account, know that you are not operating with normal Opay balance section , but  you are operating with Owealth balance section of your Opay account. Besides, if you have an Opay account I will advise you to switch your Opay balance to Owealth platform.  To find out the reasons why I did so, just read this article.  Opay has a wealth management platform called Owealth. This platform allows users to invest in mutual funds and other investment products directly from their mobile phones. Owealth aims to make investing more accessible to ordinary Nigerians who may not have access to traditional investment opportunities. OWealth is a Savings and investment platform built into the OPay App to enable you as an Opay account holder save part or all of your OPay fund to get an annual interest, which is paid daily. The annual interest is fixed at 15% and more attractive when compared to the 6% which is the highest any Nigerian bank can offer. OW...

8 Practical Steps on How to open agent banking business in Nigeria

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To open an agent banking business in Nigeria, you will need to follow these steps: 1. Know everything about agent banking in Nigeria. Visit here!  2. You are to research the regulatory requirements here by downloading the CBN document:  Nigeria has regulations that govern the operation of agent banking businesses, and it is important to understand these regulations before starting the business. The Central Bank of Nigeria (CBN) is the regulatory authority for agent banking in Nigeria, and you can visit their website to learn about the regulations. Tip: - Download  also guidelines document: CBN guidelines for regulating agent banking in Nigeria 3. Identify a partner bank of your choice: Agent banking requires a partnership with a bank that will provide the necessary support and infrastructure for the business. You will need to identify a bank that offers agent banking services and meet their requirements to become an agent. Tip: You can search CBN list of Bank...

7 Steps on how to start up POS business in Nigeria

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Starting a POS (Point of Sale) business in Nigeria can be a lucrative and rewarding venture. Here are some steps you can take to start up a POS business in Nigeria: 1. Research the market: Conduct market research to determine the demand for POS services in your area. This will help you determine the viability of your business idea and develop a strategy to differentiate your business from competitors. 2. Obtain necessary licenses and permits: Register your business with the Corporate Affairs Commission (CAC) and obtain necessary licenses and permits from the Central Bank of Nigeria (CBN) and other regulatory bodies. However, this is not compulsory, but having a registered business name is very good.  3. Secure a location: Find a suitable location for your POS business, preferably in a high-traffic area such as a shopping mall, market or busy street. Probably, you can go to a place where there's less competition of other POS dealers.  4. Purchase equipment : Purc...