E-Financial
EMTECH, Global InfoSwift Consulting (GIC) Launch ‘FINREG Learn’ for Financial Services Providers

EMTECH, a fintech for central banks and regulators, and Global Infoswift Consulting (GIC) has unveiled FINREG Learn (finreglearn.org), a capacity-building event in three core and interrelated areas: Central Bank Digital Currency (CBDC), Regulatory Sandbox Framework, and API & Open Banking holding virtually from 14 to 18 March 2022.

L-r: Afolabi Oke, MD/ CEO Global InfoSwift, MD/ CEO Emtech, Carmelle Cadet, Executive Director Emtech Africa, Enterprise Project Manager Global InfoSwift, Joy Rowland at a media briefing in Lagos. Recently
‘FINREG Learn’ invites African regulators, supervisors, banks and fintechs to explore emerging technologies that enable regulators to create regulatory environments that promote innovative products to market faster and safely while delivering modern digital financial services infrastructure for universal financial inclusion and financial market resilience.
The program boosts African and international thought leaders from the academic, financial service market practitioners and regulatory sectors.
“‘FINREG Learn’ focuses on the implications of financial technology and regulatory
innovation on the future of money and payments”, said Tunji Odumuboni, Executive Director – Africa, EMTECH. “That’s why the agenda covers topics such as ensuring #\consumer protection, mitigating cybersecurity risks, AML risks, balancing financial inclusion with financial stability objectives in the regulatory sandbox framework, and bridging the regulator and innovator data and language barriers with APIs,” Odumuboni elaborated.
Carmelle Cadet, the Founder and CEO, EMTECH, said of the capacity-building program: “African central banks and regulators are moving forward with their innovation and digitization efforts to build resilient and stable financial markets across the continent, and in today’s world, there is a crucial need for collaboration and regulatory innovation to enable successful and sound outcomes that will impact more than one billion Africans across the continent.”
Cadet added: “We are excited to welcome senior financial regulation and financial service professionals’ registrations via finreglearn.org. The program is designed with those involved in areas such as policy and regulation, strategy, innovation, compliance, risk management, IT, financial market infrastructure policy and oversight and payments management in mind,” said Afolabi Oke, Founder and CEO, Global InfoSwift Consulting (GIC) Ltd.
Mrs Adeola Azeez, Independent Non-Executive Director, Global Infoswift Consulting (GIC), said: “We strive for delegates to gain deep insights into actionable solutions to challenges they face and together to be the accelerators of the transformative changes in
technology-driven financial services evolution across the African continent.
E-Financial
Nigerian Banks End Years of Embargo, Resume Intl Transactions on Naira Cards

Nigerian banks have resumed international transactions on naira-denominated debit cards, marking a significant shift in banking operations for customers who rely on foreign payments.
This is coming nearly three years of suspension.
United Bank for Africa (UBA) and Wema Bank, in separate communications to their customers, announced the restoration of international payment services on their naira cards.
In a notice to its customers, UBA said the reactivation of international transactions on its premium naira cards aligns with its commitment to delivering improved and seamless banking experiences.
“We are pleased to inform you that all UBA Premium Naira Cards, including Gold, Platinum, and World variants, are now enabled for international transactions,” the bank stated.
“This means you can now use your Premium Naira Card for global payments — including online shopping, POS, and ATM transactions — with ease and flexibility. If you haven’t used your card recently, now is a great time to rediscover the convenience and prestige that comes with being a UBA premium cardholder.”
Similarly, Wema Bank announced that its customers can now make dollar payments on international platforms using their naira Mastercards.
“Your Wema Naira Mastercard just went global!” the bank said. “Now you can pay in dollars on all your favourite international platforms — Amazon, eBay, AliExpress, Netflix, Spotify, YouTube.”
The development marks a major relief for Nigerian customers who have had to rely on dollar cards or alternative payment methods since most banks suspended international usage of naira cards in 2021 due to foreign exchange scarcity.
E-Financial
Flutterwave Secures 20 more US Money Transmitter Licences

Flutterwave, Africa’s leading payments technology company, today announced the relaunch of its flagship remittance solution, Send App, across U.S. states following its newly acquired Money Transmitter Licences (MTLs).
This comes after Flutterwave secured 20 additional MTLs in the U.S., adding to the 14 licenses the brand has held since 2023.
Altogether, this achievement raises Flutterwave’s total number of direct licenses to 34, allowing the company to operate across many U.S. states and territories without partners or intermediaries.
Users in the U.S. can now send money to Nigeria, Ghana and Egypt, unlocking new remittance corridors that were previously unavailable.
Alongside this expansion, the onboarding process has been streamlined with a quick ID check, making it faster and easier for new users to get started.
Additional improvements include optimised payment support for US-issued Visa and Discover cards, enhanced security measures to safeguard transactions and maintain compliance, and improved in-app flows for a simpler, more efficient sending experience.
This return also highlights Flutterwave’s commitment to delivering a seamless, secure, and regulatory-compliant user experience for all Send App customers in the U.S. Users can now send money from DC, Georgia, Maryland, North Carolina, Michigan, South Carolina, Tennessee.
Other U.S. states and territories where Send App by Flutterwave supports outward remittances include Alaska, Arizona, Arkansas, Delaware, Idaho, Illinois, Indiana, Iowa, Louisiana, Maine, Minnesota, Mississippi, and Missouri, Nebraska, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Puerto Rico, Rhode Island, South Dakota, Utah, Washington, West Virginia, Wisconsin, and Wyoming.
Commenting on the relaunch, Olugbenga “GB” Agboola, Flutterwave Founder and CEO, said, “By expanding our reach and enhancing our services, we are empowering millions of Africans in the U.S. to maintain strong financial ties with their home countries, support their families, and contribute to economic development across the continent. Additionally, we are staying true to our core mission of bridging Africa with the global economy and vice versa.”
Earlier this year, Flutterwave integrated Swap into Send App for seamless FX transactions and strengthened its services in Ghana by securing approval for inward remittance from the Bank of Ghana.
E-Financial
Court Affirms NIBSS Authority to Manage BVN

Federal High Court in Abuja on Friday affirmed the authority of the Nigeria Inter-Bank Settlement System (NIBSS), to manage the Bank Verification Number (BVN), database across the country, in line with the Central Bank of Nigeria (CBN), Act and other relevant banking laws.
This is according to a judgment delivered by Justice James Omotosho on Friday.
Wolemi Esan, senior advocate of Nigeria, NIBSS’s counsel, and Kofo Abdulsalam-Alada, lead counsel for the CBN, among others, had sought a restraining order to prevent any institution in Nigeria from challenging the agency’s statutory authority to maintain and manage the BVN database.
This comes as NIBSS had alleged that Digital Rights Lawyers Initiative filed multiple suits, either directly or through proxies, challenging its authority to manage the BVN database and claiming that such management violates constitutional privacy rights.
However, Justice Omotosho, delivering his judgment, said the BVN does not infringe on the constitutional right to privacy.
“The initiative does not infringe on the constitutional right to privacy but rather serves as a necessary tool for safeguarding public interest and enhancing financial security.
“NIBSS has the power to manage the BVN,” the judge said, citing relevant CBN laws.
“The court grants the reliefs of NIBSS as prayed,” he stated.
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