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Fintech
Financial technology and payments
Founders can now test crypto and data-driven fintech under new CBN sandbox
Nigeria's central bank opened applications for its second regulatory sandbox cohort, adding dedicated tracks for virtual assets and data-enabled services.
Business owners, not agents: why Moniepoint and OPay aren't fighting the same fight
A viral tweet frames Moniepoint and OPay as rivals, but the best data shows they dominate different layers of Nigeria's POS and banking economy, with clear splits in agent count, market share, and product design.
Crypto traders will now pay taxes on their gains under new NRS rules
Nigeria’s tax authority has released guidelines taxing crypto sales, swaps, and staking rewards, enforcing a 1% withholding levy and mandatory Tax IDs.
Nigerians can now earn rewards as OPay opens affiliate applications
OPay has opened applications for an affiliate programme in Nigeria, letting creators, students, and entrepreneurs earn by driving new user signups and activity.
Lebara customers can now pay for airtime and data through Payaza
Lebara Nigeria has named Payaza Africa as its exclusive payment partner, letting customers buy airtime, data, and subscriptions directly through the telco's new digital platform.
Nigerians can now bank inside WhatsApp with Xara's AI assistant
Xava Technologies launches Xara, an AI assistant that turns WhatsApp into a personal banker for money transfers, bill payments, and airtime purchases without a separate app download.
Crypto traders will pay ₦10 stamp duty per withdrawal from 2026
New NRS guidelines extend a 1.5% stamp duty to token-to-fiat transactions, enforce platform-level collection, and impose a ₦10 million fine for exchanges that fail to register.
Crypto exchanges in Nigeria now face a N10 million fine for tax default
New tax guidelines from the Nigeria Revenue Service impose formal duties and stiff penalties on exchanges, P2P platforms, and other virtual asset providers.
Naira Records Best Performance Against Pound in July
The naira posted its best level against the British pound this month, closing at N1,814 in the official market amid continued stability in Nigeria's foreign exchange market.
ALAT Business users gain Duplo tools to automate invoices and payments
Wema Bank has integrated Duplo’s finance software into ALAT for Business, letting Nigerian SMEs handle payments, expenses and compliant e-invoicing inside their banking app.
Migrant workers gain faster, cheaper transfers as LemFi adopts stablecoins
LemFi partners with BVNK to settle remittances on stablecoin rails, cutting costs for its two million users without changing how they send money.
Nigeria offers ₦200k–₦2M loans to 500,000 young entrepreneurs
The Federal Government launched YOUTHCRED for Entrepreneurs through CREDICORP, giving collateral-free loans to 500,000 young business owners aged 18–35.
Paystack Adds PesaLink Transfers to Kenyan Checkout
Paystack integrates Kenya’s PesaLink rail into checkout so merchants can accept instant bank transfers from customers alongside existing options.
CBN Deploys Real-Time Tracker to Oversee BDC FX Purchases
Nigeria's central bank rolls out the FX BDC Purchase Tracker portal to enforce same-day reporting and tighten oversight of licensed operators re-entering the official foreign exchange market.
Moniepoint Recruits Rose Muturi to Lead Kenya Operations
Nigerian fintech Moniepoint brings on former Branch executive Rose Muturi to head its Kenya push ahead of a planned microfinance bank acquisition.
Novacrust Launches Platform to Slash Africa Cross-Border Salary Fees
Novacrust enters Nigeria, Ghana, South Africa and Kenya with USD accounts and virtual cards aimed at remote workers hit by high FX charges.
Klump Embeds Multi-Lender BNPL Tech in Jumia Nigeria Checkout
Klump integrates its BNPL infrastructure into Jumia Nigeria, giving shoppers access to instalment options from multiple banks directly at checkout.
Digital Payments Drive Nigeria Foodservice Growth Amid Inflation
Nigeria's $11.09B foodservice market in 2025 reveals fintech infrastructure enabling QSRs and independents to expand despite 16.96% food inflation.
CREDICORP and NCGCL Sign MoU to Expand Consumer Credit Access
CREDICORP and NCGCL signed a risk-sharing MoU on 10 July 2026 to expand consumer credit for qualified Nigerians through wholesale funding and guarantees.
CBN Eases PAPSS Rules to Accelerate AfCFTA Trade
CBN's April 2025 circular reduces documentation for PAPSS transactions, supporting local-currency cross-border payments under AfCFTA for Nigerian banks and fintechs.