In a Bid to prevent the panic affecting the banking sector since the recent week’s crash of Silicon Valley Bank (SVB), US regulators shut down New York-based Signature Bank. However, the attention of the Signature Bank Limited, a Nigerian financial institution, has been drawn to recent news surrounding the closure […]
Fintech
Nigeria’s Postmaster General Dr Ismail Adebayo Adewusi, has signed a partnership agreement with operators of eGate and Visa to facilitate digital financial services, issuing of payment cards and support financial inclusion across Nigeria. The initiative targets about 38 million adult Nigerians who are completely financially excluded. Adewusi who revealed this […]
The National Information Technology Development Agency (NITDA) met with stakeholders from the Lagos State Software and Innovation ecosystem to discuss how to strengthen the country’s digital economy by increasing ICT contributions to GDP and promoting indigenous content by patronizing indigenous IT products and services. At the Bon Hotel in Lagos, […]
Payhippo, a Nigerian loan startup, has secured $3 million in a seed round, which it expects to use to hire the expertise it needs to improve its technology as it expands its efforts to provide quick finance to more small and medium-sized businesses (SMEs) in the West African country. Ham […]
Major General Muhammadu Buhari (retd.) stated Tuesday in Riyadh, Saudi Arabia, that attempts to boost the country’s digital economy and combat corruption should provide investors with “a lot of conveniences.” e-Naira, Treasury Single Account, Bank Verification Number, and National Identification Number are among the proposals highlighted by the president. Buhari […]
Prospa, a YC-backed Nigerian startup offering software and financial services to entrepreneurs and micro-businesses, has announced it closed a $3.8 million pre-seed investment, which was oversubscribed by 380%. The round was backed by venture funds Global Founders Capital and Liquid 2 Ventures. Leading entrepreneurs also participated in the round including […]
OPay, an Africa-focused digital payment startup founded by a Chinese entrepreneur, announced a $400 million funding round led by SoftBank Vision Fund 2, valuing the company at $2 billion. Sequoia Capital China, Source Code Capital, Meituan-backed (3690.HK) fund Long-Z, Redpoint China, and 3W Capital are among the other investors in […]
According to a central bank of Nigeria official, Nigeria may deploy a central bank digital currency (CBDC) before the end of 2021. According to local media reports, Rakiya Mohammed, an information technology specialist at the Central Bank of Nigeria (CBN), revealed that the bank has been considering a CBDC for […]
Mastercard and MTN have announced a strategic digital payment partnership to enable millions of consumers in 16 countries across Africa to make global e-commerce payments safely and securely. Through a Mastercard virtual payment solution linked to MTN MoMo (Mobile Money) wallets, consumers and merchants can engage with brands and businesses […]
The Fintech specialists and other stakeholders have tasked the Central Bank of Nigeria (CBN), Nigerian Communications Commission (NCC) and Nigeria Security Commission to conduct a talent needs survey. According to the professionals the survey will help the regulators to understand the type of manpower challenges the industry is facing and […]
