AWS is to start accepting payments in Nigeria Naira as part of a broader initiative by the company to incorporate eight new local currencies. Amazon Web Services (AWS) has added the Nigerian Naira and several other currencies to its payment catalogue, a move aimed at simplifying financial transactions for businesses. This development is part of […]
Read MoreIn a clear message of zero tolerance for cash flow disruptions, the Central Bank of Nigeria (CBN) has sanctioned Deposit Money Banks (DMBs) for failing to make Naira notes available through automated teller machines (ATMs), during the yuletide season. Each bank was fined ₦150 million for non-compliance, in line with the CBN’s cash distribution guidelines, […]
Read MoreExperts in fintech and payments markets, forecast a 15.3% growth in digital wallet adoption globally by 2029; up from 52.6% in 2024. Juniper Research in a research found that adoption will be driven by the increasing ease of acceptance, and the digital wallet’s ability to connect underserved communities to financial services. The research found that […]
Read MoreAfrica-focused fintech platform, PalmPay has been recognized in the 2024 KPMG West Africa Banking Industry Customer Experience Survey for delivering exceptional customer experiences and surpassing traditional banks in key areas of service delivery. The survey highlights PalmPay’s strong performance across multiple stages of the customer journey, with customers praising the platform’s seamless transaction processing, reliability, […]
Read MoreJuicyWay, a payments startup using stablecoin technology to transform cross-border payments, has launched out of stealth mode and announced a US$3 million pre-seed round of funding. Founded in 2021 by Ife Johnson and Justin Ziegler, Juicyway enables individuals and businesses to send, receive, and process payments globally. The platform supports fiat currencies like the Nigerian Naira (NGN), […]
Read MoreOFFICIAL PRESS RELEASE Experts at AOT Lagos 6th edition took time out to chart the course for Africa’s digital future through artificial Intelligence organised by the Eko Innovation Centre and powered by the Lagos State Ministry of Innovation, Science, and Technology. With the Themed “AI and the Lagos Digital Economy,” the event brought together leading […]
Read MoreThe Central Bank of Nigeria (CBN) has restricted Point of Sales (PoS) agents to a daily transaction limit of N1.2 million. This was revealed in its ‘Circular on Cash-Out Limits for Agent Banking Transactions’. According to the circular, the development is in the apex bank’s effort to advance a cashless economy. “The Bank hereby releases […]
Read MoreThe Economic and Financial Crimes Commission (EFCC) has revealed a landmark arrest of a total number of 792 suspects for offences bordering on cryptocurrency investment fraud and romance scam. EFCC’s Director of Public Affairs, Wilson Uwujaren, who briefed journalists at the commission’s office in Lagos on Monday said the suspects were apprehended on Tuesday, December […]
Read MoreReal-time payments contributed $7 billion to Nigeria’s Gross Domestic Payment in 2023, with projections reaching $15 billion by 2028. Banking penetration is expected to grow by 6.5%, unlocking a $40 billion profit potential for financial institutions. According to the Real-Time Payments: Economic Impact and Financial Inclusion report published by ACI Worldwide (NASDAQ, an original innovator in […]
Read MoreEFT Corporation (EFTCorp) has proudly joined Women in Payments Africa (WIPA) as a sponsor and strategic partner, furthering its commitment to empowering women and driving gender diversity in the payments sector where female representation remains underdeveloped. By aligning with WIPA’s mission to amplify women’s voices and drive inclusion, EFTCorp aims to create a digital payments ecosystem where […]
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