The Central Bank of Nigeria (CBN), has assured Nigerians that its digital currency. eNaira posed no threat to financial stability. The Director, Corporate Communications Department of CBN, Dr Isa AbdulMumin said in Marrakech. AbdulMumin was reacting to a recent media report that raised concerns about Nigeria’s Central Bank Digital Currency (CBDC), eNaira, indicating potential risks […]
Read MoreA new study from Juniper Research, the foremost experts in fintech & payments markets, has found that the total volume of virtual card transactions will reach 175 billion by 2028; rising from 36 billion in 2023. Growing by a significant 388%, the market will be accelerated by the adoption of API (Application Programming Interface) virtual […]
Read MoreAbout 70 percent of customers’ data are going to be driven by retail and digital media enterprises in 2023, according to a report from Juniper Research, the foremost experts in mobile messaging, has identified the two leading markets driving CDP (Customer Data Platform) adoption this year. The report said that they will account for $1.5 […]
Read MorePan-African e-commerce titan Jumia is facing a bleak future as the company continues to bleed money with no end in-sight. The company has incurred significant losses of $2 billion since its inception, and says there’s no guarantee it will achieve or sustain profitability in the future. This is according to Jumia’s annual report filed with […]
Read MoreMerchant losses from online payment fraud will exceed $362 billion globally between 2023 to 2028, with losses of $91 billion alone in 2028. A rise in eCommerce transactions in emerging markets is driving this growth. Merchants there are facing new threats, such as an increased use of AI for attacks. According to Juniper Research, online […]
Read MoreMTN’s Ayoba messaging app now has more than 25 million people as part of its monthly active users, says the group in a statement. This, according to the telephony group, is up from 20 million monthly active users in December. Launched in 2019, Ayoba is an MTN-owned instant messaging super app, and features peer-to-peer private […]
Read MoreGlovo, a multi-category digital application, has expanded its operations in Nigeria with the opening of a second digital Micro-Fulfillment Centre (MFC) for improved service delivery and better customer satisfaction. Glovo’s Chief Executive Officer (CEO), Mr Oscar Pierre, said this at the innauguration of the centre at MFC in Yaba on Tuesday. Pierre said that the […]
Read MoreChinese e-commerce giant Alibaba Group Holding Ltd. says it plans to split itself into six independently run companies that could seek separate IPOs. This comes just as co-founder, Jack Ma returned to China after spending some months overseas. Under the restructuring, Alibaba’s various businesses will be split up into six major areas: cloud computing, Chinese […]
Read MoreA group Nigerian tech savvy youths have developed a web-based crypto platform to facilitate seamless and borderless means of accepting cryptocurrency payment globally. Known as Coinazer, the Web 3.0 crypto platform was developed out of the curiosity of a young Nigeria tech savvy youth to solve a payment problem. Announcing the launch of Coinazer, the […]
Read MoreThe NFIU said the decision is in accord with Nigeria’s full transition into a cashless economy. The Nigerian Financial Intelligence Unit (NFIU) has banned cash withdrawal for all federal and states accounts, effective March 1, 2023. NFIU Director General, Modibo Tukur, who disclosed this to journalists at a conference in Abuja on Thursday, said the […]
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