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In an unusual development, Airtel, one of the world’s largest telecommunications services companies, has declared an unprecedented $13 billion dividend payout. The announcement came despite the company’s huge foreign exchange (forex) loss of $549 million. Airtel to pay $13bn Dividend:…
In a bold move that underscores its commitment to monetary discipline, the International Monetary Fund (IMF) has asked the Central Bank of Nigeria (CBN) to stop waivers for banks. The directive comes as part of a wider strategy to make…
In a sudden reversal, Nigerian banks have stopped collection of deposit processing fees, providing relief to customers who were met with the charges on May 1st, 2024. The move came as the Central Bank of Nigeria ( The CBN) issued…
United Bank for Africa (UBA) continues to prioritize a seamless and secure digital banking experience for its customers with recent upgrades in their mobile app. The bank recently upgraded its mobile app to include additional features to help users and…
In what could change the face of the Southern African fintech industry, influential NASDAQ-listed fintech firm Lesaka Technologies has bought the Cape Town-based Adumo, the market-leader in the payment processing field, for $85 million. The deal, a cash-and-equity transaction, reflects…
The Federal Government of Nigeria (FG) has commenced moves to carry out a fresh audit of the N2.7tn subsidy debt said to have been owed to the Nigeria National Petroleum Company Limited (NNPC). This fresh move to audit the ₦2.7tn…
The Federal Government of Nigeria has issued a directive mandate which insists that POS agents will register under CAC. This applies to all Point-of-Sale (POS) terminal operators, also known as POS agents. The move comes amidst growing concerns over fraudulent…
In an escalatory effort towards controlling naira volatility, the Nigerian government is taking a significant measure: FG is to ban naira from all peer-to-peer (P2P) crypto trading platforms. According to Securities and Exchange Commission (SEC) Director General Emomotimi Agama, the…
In what comes as a major shock to Nigeria’s fast-rising cryptocurrency sector, two of the country’s popular financial technology companies, Moniepoint and Paga, have revealed plans to restrict access to the accounts of customers found to be guilty of carrying…
Renda, a venture-backed Nigerian logistics startup disrupting the freight and logistics sector, has raised a major pre-seed investment round of $1.9 million to build its presence across Nigeria and Kenya. The new investment would allow Renda to bolster its service…
