A growing number of Nigerian big banks are making inroads into the financial technology space, putting the valuation of fintech firms in the country under the spotlight. Around 2017, when fintech companies were seen as major disruptors in financial services, it was almost a given they will end the reign of the traditional banks. But …
Squad, a payment platform launched by HabariPay, the fintech subsidiary of Guaranty Trust Holding Company Plc (GTCO), made some eye-popping announcements in its report for the first quarter of 2023 without spending top dollars on advertisement. The bank-backed startup launched in June 2022 recorded N1.15 trillion in gateway and switching segments in less than one …
Banks’ Unstructured Supplementary Service Data (USSD) service revenues look set to decline over the approval by the Nigerian Communications Commission (NCC) to disconnect telecommunication operators from its service. Nigerian mobile telecommunications companies (telcos) consisting of MTN, Glo, Airtel, and 9mobile have said they would halt their USSD service over banks’ accumulated USSD debt of N120 …
Nnamdi Acholonu, a 38-year-old internet marketer, lost his smartphone and was in need of immediate replacement to continue his digital work. He rushed down to Ikotun market to get a fairly-used Android phone with a budget of over N50,000 but was surprised to see well-functioning smartphones as low as N35,000. “I was surprised with the …
Adeyinka Adedokun managing director of Avetium Consult Avetium Consult, a Business Technology Solution and Business Process Outsourcing (BPO) company has reiterated its commitment to make users of Zoho software, optimise its use. This was made known by Adeyinka Adedokun, managing director of Avetium Consult, at an event tagged ‘More with Avetium,’ which was held last …
Opay, a fintech company with a primary presence in Nigeria recently partnered with Guinness Nigeria to make payments and distributions seamless. The fintech company disclosed that the partnership which has opened great opportunities that it envisioned was designed to address the cash constraints in the value chain and also scale up its revenue, especially when …
eNaira, Nigeria’s Central Bank Digital Currency (CBDC) and the first to be issued in the world, is failing to live up to expectations in terms of boosting remittance and improving the informal economy. This is despite huge investments from the Central Bank of Nigeria in pushing awareness of digital currency in the public space. A …
Meta, the parent company of Facebook, WhatsApp, and Instagram has been issued a $1.3 billion fine and asked to suspend the transfer of user data from the European Union (EU) to the United States, by Ireland’s Data Protection Commission (DPC). The DPC regulates Meta across the EU and the fine is a record for a …
Instagram Meta-owned Instagram is planning to launch a text-based app similar to Twitter that allows users to create posts with text, and attach links, photos, and videos. It is a stand-alone app that is likely to go live in June according to Lia Haberman, professor of social and influencer marketing at UCLA and author of …
Since 2006, the MTN Foundation, in partnership with MUSON, has funded and developed over 350 music scholars Nigerians have an opportunity to upgrade the healthcare, educational, and electricity facilities in 40 communities that they nominate in phase five of the ‘What Can We Do Together’ initiative under the MTN Give-back Give-back initiative. According to the …