FinTech

eTranzact Secures License to Operate in Uganda

Nigerian-based payment technology solutions provider eTranzact has officially expanded into Uganda. The company’s expansion comes after receiving operational licenses from the Central Bank of Uganda in April 2024.  eTranzact Uganda’s license The licenses, granted under the National Payment Systems Operator Act, allow the company to operate as eTranzact Platform Limited, Uganda. They permit eTranzact to offer various payment solutions and services, […]

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Business

CBN DIRECTIVE: Opay & Palmpay to Ban Customers Trading in Cryptocurrency

Following a recent stopping of onboarding of new customers handed-over to OPay, Moniepoint, Palmpay, and Kuda Bank by the Central Bank of Nigeria (CBN) over the alleged trading on cryptocurrency by users of the fintechs platform, two of them namely: Opay and PalmPay vowed to ban customers involved in the act of cryptocurrency trading on their platforms. […]

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Business

Opay, Palmpay & Moniepoint Customers’ Fund Safe Despite Onboarding Order-Report

Nigeria’s apex bank, the Central Bank of Nigeria (CBN)  has directed fintechs OPay, Palmpay, Kuda Bank, and Moniepoint to suspend new customer onboarding until further notice thereby sending panic into the financial system. However, investigations revealed that the onboarding, which the suspension of registration of new customers will not affect the fund of existing customers. […]

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Business

15 Years After, Paga Recounts Business Gains, Says We Processed N14trl worth of Transactions

Nigerian Fintech company, Paga has counted the gains of doing business in Nigeria in the last 15 years in the industry, stating that it was able to processed about 335 million transactions, which worth over N14 trillion or $32 billion, in the past 15 years. At press conference organised by the Company to mark, its […]

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Business

Instant Payment Transactions to Surpass $58trl by 2028 as Competition with Card Payments Increase

Instant payments market will grow by 161%, up from $22 trillion in 2024. This substantial growth will be driven by the increased popularity of A2A (Account‑to‑Account) wallets, such as iDEAL and Twint, along with the rising popularity of Open Banking.  A2A and Open Banking payments both enable transactions to be made directly from bank accounts, bypassing the […]

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L-R: Obinna Ojekwe, Head, Brand and Marketing, Hydrogen; Emeka Awagu, Chief Technology Officer at Hydrogen; Miracle Ezechi, Digital Marketing Lead, Hydrogen, and Ina Alogwu, Group Director, Digital Transformation, ARM HoldCo.
 FinTech

Quest for Resilient Business Models for Startups Tops Discourse at Hydrogen Fintech Workshop

The quest for a resilient business models topped discourse at a workshop hosted by the Hydrogen Payment Services Company Limited for startups in partnership with the Co Creation Hub (CcHub). The discourse addressed the potential risks and opportunities for startups and saw experts advise participants on the need to develop that would scale across different […]

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Business

JUST IN: Fleeing Binance Executive Arrested in Kenyan, Govt Begins Extradition

Police authorities in Kenya have reportedly arrested Nadeem Anjarwalla, an executive of cryptocurrency platform Binance, who fled Nigeria some weeks ago. Anjarwalla had escaped from custody in Nigeria following the Federal Government’s crackdown on the cryptocurrency platform in a bid to strengthen the naira. While the Nigerian authorities later traced Anjarwalla to the East African nation, […]

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FinTech

Banking-as-a-Service Platform Revenue to Reach $94bn by 2028, as API Deployment Unlocks Fintech Innovation

Global BaaS (Banking-as-a-Service) platform revenue generated from account/card issuing and transaction fees will grow by 158% to 2028; up from $36.4 billion this year. This expansion primarily comes from API deployment across eCommerce and freelance platforms, by connecting consumers to innovative financial tools, and so unlocking additional revenue streams for BaaS providers. Juniper Research in […]

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Business

Alternative Bank, TK Tech Africa Unveils Sukuk Initiative

The Alternative Bank and TK Tech Africa have joined forces to establish a $500 million digital Sukuk initiative, which they say will transform Nigeria’s financial technology and non-interest banking market. The two said the collaboration will use blockchain technology to speed up and improve the process of issuing, trading, and settling sukuks, as well as […]

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Business

BREAKING NEWS: Binance Chief in Court Over Alleged Tax Evasion

The Nigeria Government is set to arraign Binance Holdings Limited and its two top officials, Tigran Gambaryan and the fleeing Nadeem Anjarwalla on allegations bordering on tax evasion. Tigran Gambaryan, arrived at the court at 9:15 am on Thursday while his colleague, Anjarwalla was absent as he was said to be on the run. The […]

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