webvic-b
Metalgalante S.p.A.
Liebherr-International Deutschland GmbH
JA Solar International Ltd
MSC Mediterranean Shipping Company
Kal Tire Mining

twitter Facebook Linkedin acp Contact Us

First non-bank based credit card launches in Nigeria

O3 credit cards have provided Nigerians with lending oppportunites that will increase their purchasing powers.O3 credit cards have provided Nigerians with lending oppportunites that will increase their purchasing powers. (Image source: chippla)

Lagos based company 03 Capital Nigeria Limited has rolled out the first non-bank based credit card in Nigeria

The launch becomes Nigeria’s first credit card system without being linked to any bank, 03 Capital Nigeria said.

03 Capital Nigeria Limited chief executive officer, Abimbola Pinheiro, revealed that with 03 credit cards Nigerians were given borrowing opportunities that will increase their purchasing powers, while the country also benefits from economic activity promotion through innovative payment systems.

Pinheiro explained that the credit card works can be used on all Automated Teller Machines, ATMs, Point of Sales Terminals, POS and Nigerian Internet payment sites across the country. The naira denominated credit cards have limits ranging from US$615 to US$9,230.

“In Nigeria today we have about 100,000 bank based credit cards. When we compare it with our population of more than 160mn, you will agree that a lot more is still needed to capture the entire people," Pinheiro said.

“There is no risk without a reward. If we as Nigerians don't take risks, our economy will not develop. It is our philosophy that every Nigerian will have a credit card in their wallets. We cannot develop without a credit card system,” Pinheiro added

Most Read

Genuine Volvo Parts are specifically developed, tested and approved to get the very best results from your Volvo machine. (Image source: Volvo CE)

The project carries an estimated total cost of US$12bn. (Image source: The Republic of Ghana Presidency)

By localizing production, Stellantis is contributing to job creation, skill development, and technology transfer in Egypt. (Image source: Stellantis)

Bobcat has included additional features to enhance the visibility around the machines. (Image source: Bobcat)

The transaction will give TotalEnergies an interest in hydropower projects in Uganda, Rwanda and Malawi. (Image source: Adobe Stock)

Latest news

The project is expected to expand electricity access to the nearby community. (Image source: Adobe Stock)

Bboxx Protect offers exclusive coverage for Bboxx Ride customers, including protection against material damage, fire, third-party liabilities, life insurance, and total permanent disability. (Image source: Bboxx)

The load arrived at the copper mine site on 25 November and was successfully offloaded. (Image source: Vanguard)

Volvo’s On-Board Weighing systems are designed for wheel loaders, excavators and articulated haulers. (Image source: Volvo CE)

Raxio Mozambique and Raxio Ethiopia join a growing portfolio of Tier III-certified data centres. (Image source: Raxio)

African Review