This is the first unified app delivered by an institution for use in 33 African countries.
Nigeria: Precise Financial System developing an application allowing cheques deposits via smartphones24.10.2016
Several large banks have already pledged to introduce the cheque deposit service in their operations.
The measure is as a result of the prolonged tension at Nigerian forex market
The laws will be reviewed in the first quarter of next year.
The target of the partnership is to extend financial services to rural areas
They considered the establishment of a banking market that meets sustainability criteria.
An amount of 42 billion dinars was allocated to this end.
The country's state-owned banks will soon list on the local stock exchange.
Banks' interest rates are capped at four per cent above the central bank rate.
Branches that are less profitable will be closed to cut overhead cost