The Economic and Financial Crimes Commission (EFCC) has indicted a new generation bank, six fintech firms, and several microfinance institutions in connection with financial scams that enabled fraudsters to launder ₦162 billion through cryptocurrency transactions in the 2024/2025 financial year. EFCC spokesperson Wilson Uwujaren disclosed at a press briefing that the institutions compromised standard […]
The House of Representatives has begun consideration of a bill to establish the Nigeria Fintech Regulatory Commission to oversee the country’s fast-growing financial technology industry. Sponsoring the bill, Hon. Fuad Kayode Laguda said the legislation aims to provide a comprehensive framework for regulating digital financial services, protecting consumers, and encouraging innovation. “The fintech sector has […]
A bill seeking to establish the Fintech Regulatory Commission has passed its second reading at the House of Representatives. The bill, sponsored by Fuad Laguda, an All Progressives Congress (APC) lawmaker from Lagos, scaled the second reading during Tuesday’s plenary. Leading the debate, Laguda said the commission is needed to oversee and regulate Nigeria’s rapidly […]
BY GODWIN ANYEBE Intreensic, a payments education and advisory group, has launched with a mission to bridge Africa’s payment and fintech talent gap, by equipping professionals and businesses with world-class payments expertise. Intreensic aims to address the critical need for structured training and certification in the payments sector across Africa. Speaking, founder and CEO of […]
By Godwin Anyebe Fintech firms could do more to intentionally target women customers in emerging markets. According to a new IFC report released, by using business strategies informed by analyzing sex-disaggregated data, fintech firms could capitalize on the women’s market while contributing to greater financial inclusion for women. Fintech and digital financial services have been […]
By Motolani Oseni Nigeria’s fintech startups amassed $243 million in funding over the past year, marking the lowest among the “Big Four” African nations, according to data from Afridigest, an African data and research platform. Despite a 16% funding decline in Nigeria for 2023, noteworthy startups like Moove ($66 million) and Lemfi ($33 million) successfully raised substantial […]
By Godwin Anyebe In the ever-evolving Fintech landscape, startups often set their sights on new horizons, which often involve expanding into emerging African markets, such as Nigeria, Kenya, South Africa, Ghana, and others. It is no news that these markets offer substantial growth potential while also presenting unique challenges that have to be navigated skillfully […]
By Kehinde Bamidele Nigeria’s FinTech ecosystem, which is one of the most vibrant in Africa, is rapidly transforming how individuals and businesses access financial services. With the rise of mobile money, online lending, savings apps, and blockchain platforms, digital financial inclusion is at an all-time high. However, this innovation comes with increased exposure to cybersecurity […]
By Temitope Adebayo Touch and Pay Technologies (TAP), a Nigerian fintech company and processor of micro-transactions in Africa, has deployed technology that aids interstate travel from Lagos to other parts of the country. Today, there are over a million interstate trips daily in the country, with 40 per cent of trips emanating or terminating in […]
By Victor Adewole If we were to take a chronological look at the evolution of marketing strategies in the financial industry in Nigeria, we would encounter interesting times, especially around the early 2000s. This was when media marketing and community marketing, or outreach, were gaining momentum and becoming a trend many banks had to follow. […]
Understanding the significance of market research and competitive analysis in fintech product development begins with the principle that knowledge is more than just power; it is a guiding force. For fintech developers, this insight determines the impact and relevancy of any product they bring to market. As product managers and developers are well aware, building […]
Nigerian Fintech companies have raised venture capital funding of $1.2 billion in 2022, followed by Kenyan fintech who raised $1.1 billion and Egypt with $820 million. In Lagos alone, about 107 technology Start-ups raised funding to the tune of $750 million in 2022, and between 20,000 and 50,000 people are employed by different Start-ups across […]
By Godwin Anyebe Fintech In Nigeria, the creative application of technology to the provision of financial services is having a positive effect on both business operations and individual experiences. Fintech solutions are promoting financial inclusion by providing more affordable, easy, and convenient ways to make bill payments and engage in financial services and decisions. to […]
Fintech Leader Tobiloba Asu-Johnson has just stated his plans to unveil Zap Africa with a vision to revolutionize the crypto exchange landscape across the African continent. With a strong background in digital currency and blockchain technology, Tobiloba ASU Johnson aims to make crypto more accessible and create financial freedom for everyone in Africa with Zap […]
In Africa, the promise of education is often dimmed by the harsh reality of financial barriers. Across the continent, millions of children are unable to access quality education due to economic constraints. However, the rise of Financial Technology (FinTech) is revolutionizing this narrative, providing innovative solutions that are bridging these financial gaps and paving the […]
Fintech guru and the Business & Partnership Manager at Teamapt Inc has revealed that the Nigerian fintech industry is faced with regulations and adoption as their biggest challenges. Speaking recently to a journalist, the industry veteran said while so many people in the country still don’t know what the financial technology is, the system have […]