In a move to expand its digital presence in the face of technology-driven banking options, Standard Chartered Bank announced the closure of 50 per cent of its branches in Nigeria. NCHETACHI CHUKWUAJAH, in this report, examines what this portends for the Nigerian banking space.
STANDARD Chartered Bank had on Monday, January 10, announced that it was closing half of its branches in Nigeria in a bid to expand its digital banking option, as banks face pressure from mobile money or agency banking providers.
The bank is strengthening mobile banking and recruiting agents to reach new customers and handle cash deposits and withdrawals across Nigeria.
According to Bloomberg, the London-listed…
Source: Nigerian Tribune
