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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…
The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to enforce compulsory 0.5 percent cybersecurity charges on all electronic transactions. CBN Implements Cybersecurity Charges In Financial Institutions This directive in a circular, signed by Chibuzor Efobi,…
Investing in start-ups has ensured the growth and expansion of many fintech businesses in Africa. One such start-up is Seamfix, a digital identity solution provider. Seamfix raises $4.5 million in funding from Alitheia IDF, a pioneering gender-lens fund investor. The…
It’s exciting to witness how start-ups are expanding across the African continent. BuuPass, a travel-booking start-up in Kenya, has revealed its expansion plans to other parts of the continent. BuuPass Buys QuickBus, a bus ticketing platform with operations in Nigeria…
NBA has launched the NBA Accelerator program in Africa. It is termed the “Triple Double Startup Accelerator in Africa”. NBA Africa aims to provide capital and mentorship as part of the initiative to support African start-ups. The African tech ecosystem…
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…
Zenith Bank Plc ’s fully-owned fintech subsidiary, Zenpay Limited, has entered into a landmark agreement with the African Continental Free Trade Area Secretariat, in a move expected to greatly expand intra-African trade. The parties have executed a collaboration agreement that…
