E-Financial
Konga.com Creates Platform to Sell Anything Online

Konga.com, Nigeria’s Largest Online Mall has opened up of its trading platform for all Nigerians to sell online, marking a turning point for Nigerian businesses- roadside, small, medium and large.
Konga which only last year announced the launch of Konga Mall, a revolutionary offering which gave select Nigerian businesses the opportunity to put their products online is finally opening up this opportunity for all classes of businesses in Nigeria.
To be a part of this revolution and receive valuable information, everyone can simply visit http://konga.com/sell to pre-register.
Regular information on how to maximise the opportunity, processing and validation will be done on the Konga platform in the weeks leading up to the big launch.
This new offering which will be launching in the coming weeks will cater to the needs of not only big wholesalers/ retailers, but even the road side/ market traders in Surulere, Alaba, Aba, Onitsha, Kaduna, as well as enterprising individuals across the country with amazing products but no hope of expansion or scaling.
This marketplace will revolutionise the way buyers and sellers interact, with a model that is more convenient for the seller and more attractive to the buyer.
It will create unlimited opportunity for the Nigerian entrepreneur, small business owner or even large business owner; it will serve as the great equaliser/nation builder, boosting employment, trade and powering economic growth and development in Nigeria.
Konga has already changed the rules of participating in e-commerce in Nigeria through several novel offerings to customers, major investments in infrastructure and widespread education on the merits and convenience of online retail.
Now Konga is building a marketplace that will exponentially drive the adoption of e-commerce in the country through unrestricted yet structured participation, as well as novel platform security measures and guarantees that ensure buyer and seller are protected and rewarded for participating.
Maxitech, a computer and electronics dealer based in Lagos who has benefited from the earlier launched Konga Mall had this to say;
“I have been selling computers for a number of years now in Lagos and to customers in neighboring cities, but i must admit that what Konga.com has been able to do for my business is increase my sales portfolio not only locally but nationwide
E-commerce in Nigeria is definitely the future and i am happy that Konga is not only growing at a tremendous pace but is also helping Nigerian Businesses grow as well” Sim Shagaya, CEO of Konga.com had this to say about the new platform;
“About a year ago, we realised that for our services to be really valuable to society, we had to build a platform for anyone, not just Konga, to sell and prosper. We launched this platform to a limited number of sellers and in that time, we have learned how to build a truly revolutionary Nigerian online marketplace.
Today we are pleased to invite all Nigerian businesses – great or small, designer or farmer, producer or trader, sole proprietorship or limited liability, – to sign up to this new platform – Konga Marketplace.
We will be opening up in the next few weeks and we think you will be pleasantly surprised by what we have built”
The internet is changing retail around the world, and the winners will be those that embrace the internet revolution.
Konga.com will provide the tools, awareness and security for entrepreneurs and businesses across Nigeria who want to benefit from the immense benefits of expanding their businesses online.
E-Financial
NDIC Calls for Inputs to IADI Core Principles for Effective Deposit Insurance

Nigeria Deposit Insurance Corporation (NDIC) has called for comments from financial services industry stakeholders in the country, policy makers and the general public towards the ongoing revision of the International Association of Deposit Insurers (IADI) Core Principles for Effective Deposit Insurance System.
The proposed revision launched by IADI in May 2025, is a significant step towards enhancing the resilience and relevance of deposit insurance frameworks in the face of an evolving global financial landscape.
Specifically, the revision is aimed at comprehensively addressing structural changes, including digital innovation, the growing role of deposit insurers in resolution, and lessons learned from the banking turmoil in March 2023, which is the most significant systemic stress event since the 2007-09 global financial crisis.
The IADI Core Principles are used by jurisdictions, including Nigeria, as a benchmark for assessing the quality of their deposit insurance systems and for identifying gaps in their deposit insurance practices and measures to address them.
The Core Principles are also used by the International Monetary Fund (IMF) and the World Bank in the context of the Financial Sector Assessment Programme (FSAP), to assess the effectiveness of jurisdictions’ deposit insurance systems and practices.
The first set of the Core Principles was issued jointly by the IADI and the Basel Committee on Banking Supervision (BCBS) in June 2009 while the document is subjected to periodic revision order to keep it up-to-date with evolving trends on the global financial system landscape.
As a founding and committed member of IADI, NDIC recognises the importance of the ongoing revision and hereby invites stakeholders and the general public to actively participate in the process by reviewing the document on the lin
E-Financial
Onafriq Marks 15 Years of Revolutionizing African Payments

Onafriq, Africa’s largest digital payments network, has celebrated a major milestone, connecting nearly 1 billion mobile money wallets and 500 million bank accounts across the continent.
According to a statement released by the company, Onafriq has evolved from a mobile money switch to a comprehensive omnichannel payments network, facilitating seamless transactions and financial inclusion.
The company’s network now connects 961 million registered mobile wallets and 464 million registered bank accounts, with over 2,000 cross-border payment corridors supported.
Speaking on the achievement, Dare Okoudjou, Founder and CEO of Onafriq, said, “We remain fully committed to connecting every individual and business in Africa with each other and the world.”
Okoudjou noted that the company has grown in lockstep with the continent’s digital evolution, from mobile money to bank accounts, remittances, and real-time trade.
As Onafriq embarks on its next chapter, the company aims to develop infrastructure with local relevance while maintaining the scale of its pan-African infrastructure.
A prime example is Nigeria, where Onafriq is developing a unique payments stack that combines the strength of its cross-border network with the regulatory and foreign exchange realities of one of Africa’s most dynamic economies.
The company is also exploring blockchain infrastructure and stablecoin integrations to facilitate near-instant, programmable payments, aligning with the objectives of the African Continental Free Trade Area (AfCFTA).
“We are increasingly focused on creating infrastructure with local depth,” Okoudjou said.
With extensive experience, wide reach, and a proven execution track record, Onafriq remains dedicated to building a payment infrastructure that unlocks prosperity across borders and within local communities.
E-Financial
UBA Compiles with NCC, to Deduct USSD from Customers’ Accounts
United Bank for Africa (UBA) has informed its customers that, in compliance with a new directive from the Nigerian Communications Commission (NCC), charges for USSD banking services will no longer be deducted from bank accounts, effective June 3, 2025.
In a notice sent to customers, the bank explained that the charges would now be deducted directly from users’ mobile airtime balances, in line with the NCC’s newly introduced End-User Billing (EUB) framework.
It said the new model aimed to ensure transparency in USSD transactions and shift billing responsibility to mobile network operators.
According to UBA, each USSD session would now cost ₦6.98 per 120 seconds, saying that customers initiating transactions would receive a prompt to provide consent at the start of each session, and airtime would only be debited if the bank is available to process the request.
The bank advised customers who are not comfortable with the new billing arrangement to opt for other digital banking alternatives such as the UBA mobile app and internet banking platform, which remain fully operational and user-friendly.
UBA reaffirmed its commitment to providing secure and accessible digital services, and encouraged customers to choose the channel that best suits their banking needs.
The policy marks a significant shift in Nigeria’s digital banking ecosystem and is expected to address longstanding disputes over USSD service charges between telecom operators and financial institutions.
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