In banking, Impersonal Ledger is the record of transactions that’s not related to individual account holders. Unlike personal ledger which is more personal and related to people, impersonal ledger is concerned with bank’s overall financial activities.Impersonal Ledger is categorized into two main accounting book; cash book (or real ledger) and general ledger. As part of general ledger, impersonal ledger contains entries that deal with assets, liabilities, income, and expenses.Furthermore, the general ledger is divided into types namely private and nominal. In private ledger, all the transactions related to liabilities and assets are recorded. While in nominal all the transactions related…
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There is a range of 3 to 5 digit bank code called “Bank CBN Code”. This bank code refers to a unique bank identifier code (BIC) assigned by the Central Bank of Nigeria (CBN) to each bank operating within Nigeria.This code is used to standardize and facilitate banking transactions, such as inter-bank transfers, within the Nigerian banking system. However, it’s important to note that CBN is not directly responsible for managing this banking code system. The Nigerian Apex bank has handed it over to an agency called Nigerian Inter-Bank Settlement System (NIBSS).Speaking of which, Kuda Bank falls into the category…
Kuda Bank USSD code is a bank short code that would allow any Nigerian to transfer funds from their various bank account to Kuda account. There’s no dedicated code for Kuda Bank but there’s a generated USSD from Kuda app that can be given to recipients to complete an inter-bank into Kuda bank account.Kuda USSD, mostly work with GTB, Wema, First Bank and Zenith Bank, cannot be used to purchase airtime or data on the bank. In fact, Kuda Bank USSD code doesn’t work for any bill payment, outwards transfer or loan services.You can only use the Kuda USSD code…
Moniepoint Card sales agents are the distributors of Moniepoint ATM Cards across Nigeria. In other words, a Moniepoint card sales agent is an individual or business working with Moniepoint to distribute or help customers access Moniepoint’s Debit Card.As a card sales agent, you can typically create a Moniepoint account for new customers and assists both new and old customers with acquiring Moniepoint debit cards, activating them, and understanding how to use them for transactions.Becoming a card sales agent for Moniepoint is a very easy process and in this article, we are going to walk you through the step by steps…
The apex bank of Ethiopia, National Bank of Ethiopia (NBE), has announced a directive mandating all payment service providers (PSP) to adopt standardized and unified QR code systems for digital payments.In other words, NBE released a directive’s statement on X, formerly Twitter, that all payment service providers in Ethiopia must provide a QR codes that align with the apex bank’s standard for merchants to collect payments from their customers.The unified QR code systems will allows merchants to accept payments from any bank or payment service provider with a single QR code. That’s to say, customers can pay merchants from any…
Moniepoint is one of the best fintech companies in Nigeria offering spending cards that can be used to make a web purchase, POS payments/withdrawals and ATMs usage.In this article, we will walking you through Moniepoint Cards and emphasizing more on its virtual card. Many customers have been asking questions regarding Moniepoint virtual cards and we will provide answers to all the questions in this article.Does Moniepoint Have Virtual Cards?No, Moniepoint does not offer virtual cards to its customers. The fintech is providing access to a spending card or debit card or atm card for customers in Nigeria only.A virtual card…
The Zimbabwean’s government has introduced a new tax policy that mandates all WhatsApp Group Administrators in the country to register with POTRAZ and obtain a license that worth $50. This new regulation by the Zimbabwean government is aimed at curbing misinformation and align with the Data Protection Act of the country.Post and Telecommunication Regulatory Authority of Zimbabwe (POTRAZ) is the governmental agency responsible for regulating the country’s postal and telecommunications sectors. Its core functions include licensing and supervising operators in the postal, courier, and telecommunications industries to ensure compliance with regulatory standards.POTRAZ also promotes fair competition, oversees service quality, and…
Enabling SMS alerts on OPAY is simple. So, turning it off shouldn’t be hard. The same ways you activate it is how you will stop it on your OPAY Mobile app for Android and iPhone. Here’s how you can activate SMS alert on your OPAY Account.To stop SMS alert on your OPAY Account, follow the steps highlighted below:Login to your OPAY account and click on “Me”.Under the “Me” page, click on “Settings”.Scroll down to click on “SMS Subscription”.Toggle OFF the SMS notification type you want to stop.If you want to stop everything, then toggle OFF all the SMS notifications.Note: Once…
PalmPay is one of the leading mobile money operators in Nigeria. Although, its operations are based online but the company also have physical locations to that caters for agents problems and the issuances of debit cards.If you’re searching for PalmPay offices in Osun state and Ogun state, this article is for you. PalmPay has offices in Ogun and Osun and other states in Nigeria including Onda state and Enugu.PalmPay Office in OsunThe PalmPay Office in Osun is located at 52, Ayedun Layout, Opposite Slot, Ogo-Oluwa Bustop, Osogbo, Osun State. You can also get in touch with the customer service department…
Visa, the world’s second-largest card payment processor and best competitor of Mastercard, has invested in four African startups to drive financial inclusion in Africa. According to Visa, this investment is part of the company’s $1 billion initiative to promote financial inclusion in Africa.The selected startups include Oze, a business banking platform from Ghana; Orda, a restaurant technology startup based in Nigeria; WorkPay, a Kenyan firm specializing in HR and payroll management; and OkHi, an AI-powered address verification service.These startups are part of Visa’s biannual Africa Fintech Accelerator program, which launched in June 2023. The program admitted 23 startups and provided…