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E-Business

NIBSS Offers Cash Back Reward to Increase Use of PoS

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Nigeria Interbank Settlement System (NIBSS) is offering electronic cardholders in the country cash back of 50 kobo for every N100 spent in the use of e-payment cards to pay for goods and services on PoS terminals and web platforms.

Chuks Iku, chairman, Committee of E-Banking Industry Heads (CEBIH),  disclosed this at an interactive session with media in Lagos.

“The committee and all member banks have partnered with the Nigerian Inter Bank Settlement System (NIBSS) for an incentive scheme for members of the public whereby cash back rewards are given to card holders for using their cards to make payments on alternate channels. The objective is to encourage usage of cards on PoS and the Web”, he said.

Under the guidelines for PoS Terminal Card Acceptance Services, merchants are to pay PoS transaction fee of 1.25 percent of the transaction value subject to a maximum N2000.   

This fee is shared among organisations involved in the provision and operation of the PoS terminals.

Iku explained that under the incentive scheme, 40 percent of this fee, which represents part of the portion that belongs to NIBSS and the banks will be given as cash back for transactions on PoS terminals and web platforms. This translates to 50 kobo cash back for every N100 spent through these e-payment channels.

He said that this is in line with the objective of CeBIH,  which is promotion of electronic banking services in Nigeria in line with “Global best practices”.

CeBIH, he said,   “comprises all heads of e-business, e-banking, e – channels/ card services of all banks in Nigeria and the  overall vision of the Committee is to drive the adoption of electronic banking services through the right technologies, policies, standards, innovation and public awareness”

He added that this underpins CeBIH’s support for the cashless policy of the Central Bank of Nigeria (CBN) introduced in January 1st 2012. 

“The committee acknowledges that the effort is yielding positive results as reflected in the increase in the number of transactions consummated via electronic payment channels since the flag-off of the policy.

The Committee acknowledges the spirited efforts, the CBN is making towards engendering a vibrant and prosperous banking sector in Nigeria and particularly the drive to ensure the success of the cash-less policy in Nigeria”, he said.


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E-Business

Jumia Replatforms its Retail Media Program to Mirakl Ads to Enhance Marketplace Advertising

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Jumia, e-Commerce platform in Africa, has partnered with Mirakl to elevate its marketplace advertising capabilities by deploying Mirakl Ads, a retail media solution uniquely designed to optimize performance for both first-party and third-party sellers.

This move strengthens Jumia’s efforts to deliver more value to its sellers, enhance the customer experience, and unlock profitable and sustainable new sources of revenue. Retail media is a rapidly growing sector within the e-commerce industry, expected to reach $204 billion by 2027 with a projected compound annual growth rate (CAGR) of 17.2%.

Jumia’s adoption of Mirakl Ads positions the company at the forefront of digital advertising innovation in Africa, unlocking significant opportunities to increase revenue generation. With growing usage across its platform, Jumia is well-placed to capitalize on this momentum by delivering improved advertising tools to sellers and more relevant, personalized product recommendations to customers.

“Advertising is a key growth lever in our marketplace strategy, and this partnership with Mirakl allows us to accelerate that journey with speed and scale.

“By integrating Mirakl Ads, we’re empowering our sellers with smarter tools and delivering a better, more personalized experience to our customers. It also positions us to unlock new revenue streams while deepening engagement across our platform. Importantly, this partnership supports our ambition to grow gross profit and accelerate our path to profitability,” said Francis Dufay, CEO of Jumia.

The collaboration is a testament to Mirakl’s ability to rapidly deploy enterprise-grade solutions, with Jumia launching Mirakl Ads in just two months. This showcases the platform’s ease of integration and fast time-to-value. Now live, the solution equips Jumia’s advertising ecosystem with advanced automation, AI-powered optimization, and seamless campaign          management.

With Mirakl Ads, all advertisers – from the biggest brands to the smallest marketplace sellers – can now boost their sales by leveraging advertising campaigns in Ghana, Uganda, Kenya, Nigeria, Senegal, Egypt, Algeria, Morocco and Ivory Coast.

“Jumia’s decision to replatform to Mirakl Ads is a powerful validation of our platform’s ability to deliver immediate and measurable impact for leading marketplaces. By combining Mirakl’s cutting-edge retail media technology with Jumia’s deep market reach, we are enabling sellers to grow faster and customers to benefit from a more relevant, engaging experience. This partnership is a true milestone, not only for Jumia and Mirakl, but for the future of digital commerce across Africa.” said Adrien Nussenbaum, cofounder and co-CEO of Mirakl.

Through this partnership, Jumia is taking a decisive step in accelerating monetization, improving customer engagement, and advancing its long-term financial performance and profitability.


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E-Business

Galaxy Backbone, Rural Electrification Agency Commit to Deepening Digital and Energy Access Across Nigeria

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In a major step towards deepening Nigeria’s digital and energy infrastructure, Galaxy Backbone Limited (GBB) and the Rural Electrification Agency (REA) have signed a strategic Memorandum of Understanding (MoU) at a brief but impactful ceremony held in Abuja.

The MoU signals a collaborative effort between both agencies to enhance Nigeria’s digital transformation agenda by integrating reliable energy solutions with cutting-edge ICT infrastructure, especially in higher institutions, Government institutions, underserved and rural communities across the country.

Speaking at the event, the Managing Director/CEO of Galaxy Backbone, Professor Ibrahim A. Adeyanju, described the partnership as “a landmark moment in Nigeria’s journey towards a digitally empowered, sustainably powered, and inclusively connected nation.”

“This partnership exemplifies what is possible when two visionary government institutions come together, united by shared goals and driven by the desire to improve the lives of Nigerians everywhere,” he said.

Professor Adeyanju emphasized that while Galaxy Backbone’s core mandate is to provide secure digital infrastructure that powers government operations, reliable and sustainable energy particularly in rural areas is essential to fully actualize digital transformation.

Major highlights of the MoU include:

  • Solar electrification of some of GBB’s Metro Fibre sites in Abuja by the REA.
  • Powering Hostels of Higher Institutions across the country through the Fibre to Hostel Project being driven by the Federal Ministry of Communications Innovation and Digital Economy (FMCIDE).
  • Support for the rollout of the 774 Local Government Digitization Initiative, beginning with six pilot Local Government Areas.
  • Provision of LANs, access points, cloud services, colocation infrastructure, and temporary connectivity to enhance REA’s operational facilities nationwide.

The Managing Director of the Rural Electrification Agency Mr Abba Aliyu, in his remarks, expressed optimism that this collaboration will further bridge the digital and energy divide across Nigeria. He noted that by combining REA’s achievements in expanding energy access with GBB’s robust ICT backbone, both agencies are poised to create lasting impact across governance, education, healthcare, and entrepreneurship.

This partnership is also in direct alignment with the Renewed Hope Digital Transformation Agenda of President Bola Ahmed Tinubu, GCFR, which envisions an inclusive digital economy powered by innovation and sustainable energy.

The ceremony was attended by top management from both organizations as well as members of the media.

With today’s signing, Galaxy Backbone and the Rural Electrification Agency have set the tone for stronger, smarter, and more inclusive public service delivery powered by strategic inter-agency collaboration.


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NIMC Says NIN Services Back Online

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National Identity Management Commission (NIMC) has announced the restoration of its National Identification Number (NIN) verification services nationwide.

NIMC Says NIN Services Back Online

This, according to the commission, follows the completion of a system maintenance exercise.

In a statement issued on Friday, the NIMC confirmed that all previously disrupted services have resumed.

“NIMC wishes to inform the general public that the recent technical maintenance has been completed and all services have been restored,” the statement read.

The NIMC urged Nigerians seeking to enroll for NIN to visit the its official website to locate the nearest enrollment centers.

The agency also encouraged individuals to make use of its self-service portal for tasks such as data modification, including name changes.

To further ease the verification process, the Commission recommended downloading the NIMC NameAuth app (oath.app) from the Google Play Store or Apple App Store for quick and secure NIN authentication.

NIMC expressed appreciation for the public’s patience during the service disruption, which had impacted banks, telecom providers, and government agencies that rely on NIN verification for their operations.

 


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