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E-payment transactions rise by 325% to N704 trn in 2020 On By Elizabeth Adegbesan The value of electronic payment (e-payment) transtions rose year-on-year (YoY) by 325 per cent to N704.04 trillion in 2020 from N165.8 trillion in 2019. Similarly, the volume of e-payment transactions rose YoY by 142 per cent to 7.16 billion in 2020 from 2.96 billion in 2019. Vanguard analysis of data from the National Bureau of Statistics (NBS) Selected Banking Sector Report further showed that value of Non Performing Loans (NPLs) ticked up by 16 per cent to N1.23 trillion in 2020 from N1.05 trillion in 2019. ...

Read more about End arbitrary account-freeze by banks on Business Standard. A longer-term solution is to allow customers to easily vote with their feet

Renewable natural gas from food waste offers negative carbon intensity as LCFS pathway: -80 gCO2e/MJ South San Francisco Scavenger Company (SSFSC) has submitted an application to the California Air Resources Board (ARB) seeking certification of Tier 2 pathways for biomethane (Bio-CNG) from anaerobic digestion (AD) of food waste and urban landscaping waste at their facility in South San Francisco, California. The proposed carbon intensities for the two pathways are -79.91 gCO 2e/MJ and 0.28 gCO 2e/MJ, respectively. The fuel production facility, which is co-located with the Blue Line Transfer f...

E-payment transactions rise 21% to N320trn in Q3’20 On By Elizabeth Adegbesan MONEY MARKET Adoption of cashless financial transactions have hit a new height in Nigeria as the value of electronic transactions rose by 21 percent to N319.99 trillion in the third quarter of the year (Q3’20) from N263.8 trillion in Q2’20. Meanwhile, in the same period commercial banks’ credit to private sector stood at N19.9 trillion rising by five percent when compared to M18.8 trillion credit in Q2’20. In its Selected Banking Sector Data for Q3’20 the National Bureau of Statistics, NBS, stated: “A...