E-Financial
Moniepoint, Community Pharmacists to Explore Digital Financial Inclusion for Health Industry
Issues bordering on the need to strengthen the pharmaceutical supply chain and distribution leveraging digital technology, reducing the prevalence of fake medicines exacerbated by the unregulated and uncoordinated open drug market, bringing digital financial inclusion to the forefront of the health industry and achieving Universal Health Coverage, UHC for all Nigerians even in the face of its expanding population and limited human resources for health care have been brought to the fore.
L- R Regional Sales Manager, Moniepoint Inc, Emmanuel Imouokhome, National Secretary, ACPN, Pharm. Omokhafe Ashore, National Chairman, ACPN, Pharm Wale Oladigbolu and Vice President, Sales and Partnerships, Moniepoint Inc, Ifeanyi Duru, Chairman, ACPN Conference Planning Committee, Pharm. Grace Ikani and Lagos State Coordinator, Richard Eseka, during the courtesy call which held at the Moniepoint Inc office in Lagos
These subjects among many were raised during a courtesy visit by some National Executive members of the Association of Community Pharmacists of Nigeria (ACPN) to the Moniepoint Inc office in Lagos. With an average of 480,000 daily footfalls across over 6,000 community pharmacies in Nigeria, the ACPN plays a vital role in Nigeria’s healthcare system as front-line workers who promote public health and well-being, beyond dispensing medications as they serve as trusted healthcare providers within communities, offering valuable advice, counsel, and preventive care.
Leading the ACPN delegation, the National Chairman, ACPN, Pharm Wale Oladigbolu lauded the giant strides made by Moniepoint in providing reliable and seamless digital payment services to community pharmacies across the country adding that some other players in the pharmaceutical still operated primarily with cash, thus limiting their growth potential and financial inclusion.
He noted that Nigeria’s health care industry was ripe for disruption using digital and technological know-how to achieve UHC, social health insurance, supply chain systems and data for policy formulation.
“This visit to Moniepoint today is underscored by our belief that a well structured collaboration between both organizations will produce transformative high yield results and benefit the nation’s healthcare system at large. Such collaborations enhance not only the operational efficiency of our pharmacies but also ensure that our patients and customers benefit from the convenience and security of digital financial services. Integrating financial technology seamlessly into everyday health services, making them more accessible and efficient for all is a noble task that all stakeholders should strive towards achieving,” he said.
Furthermore, he solicited for Moniepoint’s robust participation at the Association’s 43rd annual Scientific Conference scheduled for Ibadan, Oyo State later in the year. He noted that this year’s event will deliver a peerless experience for all attendees in terms of skills and knowledge acquisition, as well as the sporting and entertainment value added initiatives that have been lined up.
Vice President, Sales and Partnerships, Moniepoint Inc, Ifeanyi Duru who expressed his delight at the opportunity to collaborate with the ACPN and deploy the digital financial services provider’s cutting-edge technology to drive greater financial empowerment and inclusion in Nigeria’s healthcare industry.
“Creating financial happiness is our mantra and a more inclusive financial ecosystem that caters to the unique needs of the health industry in Nigeria is in perfect sync with what we stand for at Moniepoint. There is a significant opportunity here to elevate the interests of community pharmacists and give fresh impetus to the way community pharmacies operate by layering tech and digital payments for socio-economic development. The potential impact of this collaborative effort especially in bridging significant gaps in the value chain is huge and one which we relish the opportunity to tackle,” he said.
Notable professionals present during the visit include National Secretary, ACPN, Pharm. Omokhafe Ashore, Chairman, ACPN Conference Planning Committee, Pharm. Grace Ikani, Regional Sales Manager, Moniepoint Inc, Emmanuel Imouokhome, State Coordinator, Richard Eseka, Public Relations Manager, Moniepoint Inc, Bemigho Awala and Brand Story-teller, Emmanuel Paul.
Moniepoint’s comprehensive and easy to use suite of payment, banking, credit, and business management tools continues to empower over 2 million individuals and businesses across the country to thrive and better serve their communities in a manner that drives economic growth and social impact.
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.
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.
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.
Nigerian Banks End Years of Embargo, Resume Intl Transactions on Naira Cards
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