E-Financial
OneCard Deploys SAP Business ONE Cloud to Streamline Process

OneCard Nigeria, an innovative fast moving consumer goods (FMCG) company that provides top up solutions on multiple platforms has announced the implementation of SAP Business ONE Cloud for its operations.
SAP Business ONE Cloud is a cloud-based subscription offering that provides small businesses or subsidiaries of large companies with a single software solution to manage critical business processes.
OneCard Nigeria announced that its choice of SAP solution after evaluating various offerings in the market was based on SAP’s robust platform which is well suited to support its mission of providing world class services that impact lives positively.
Mr Ahmad Baba, chief executive officer, OneCard Nigeria, said; “We have chosen SAP Business ONE Cloud for our business because it provides a comprehensive and fully integrated offering built on proven best practices. SAP Business ONE Cloud has delivered us a best fit for our unique business requirements’’.
Engineer Kajubi, chief operating officer (COO), OneCard Nigeria, also confirmed that the choice of SAP Business ONE Cloud was logical by saying, “We know that we can count on SAP to help our business grow. The ERP engine provided by SAP makes it possible for us to have timely and accurate information all the time. This is a major requirement in today’s business environment”.
The SAP Business ONE Cloud was implemented for OneCard Nigeria by STREAD IT, SAP’s ONE Cloud Go-To partner in Nigeria.
Olalekan Ajayi, chief executive officer, STREAD IT, said, “One major advantage that SAP Business ONE Cloud offers firms such as OneCard, is that it is a single application that integrates all core business functions, including financials, sales, customer relationship management, inventory and operations”.
He advised small and mid-sized businesses to consider making a switch to the SAP Business ONE Cloud because of the solution’s extensibility as it can be easily integrated into a company’s existing core application
Olalekan added, “Huge upfront capital outlay is known to usually make small and mid-sized businesses shy away from investing in IT infrastructure for their organisation. With SAP Business ONE Cloud however, this problem is non-existent as implementation runs on an attractive flexible monthly ‘pay-as you-go’ structure which eases the burden of huge upfront investment”.
Addressing the issue of data security, Olalekan disclosed that all data are hosted in an SAP Certified Data Centre.
Richard Edet, country manager, SAP Nigeria, explained, “We are quite delighted to have been chosen to be part of OneCard Nigeria’s service rollout. Our determination is to ensure that OneCard Nigeria benefits from the satisfactory experience that thousands of small and medium size companies already receive from us worldwide. We understand that businesses could sometimes face urgent rollout deadline like OneCard, so we are delighted that under six weeks after SAP was signed on, the solution was set up”.
He commended OneCard Nigeria for the innovation that it had brought into the country through services in its various channels.
OneCard Nigeria is a fast moving consumer goods company that provides top-up solutions on multiple platforms for various services like mobile phones, toll fees, transportation, pay television and fuel cards nationwide.
On the other hand, StreadIT is a provider of IT and business solutions to small, medium-sized and large local and international firms.
While SAP Africa, subsidiary of SAP AG began business operations in 1982 headquartered in Woodmead – Johannesburg, Gauteng Province, South Africa.
E-Financial
SEC Working on Stablecoin Regulation Framework

Securities and Exchange Commission (SEC) is working with developers to establish a regulatory framework for stablecoins, according to Dr. Emomotimi Agama, director-general, SEC.
Agama made this announcement during his keynote speech at the 2025 Decentralized Finance (DeFi) Conference.
Agama said the SEC’s commitment is to foster a responsible decentralized finance environment.
“The commission believes responsible DeFi can thrive in a regulated environment,” he said, highlighting the SEC’s efforts to enhance investor education through its “Crypto Smart, Nigeria Strong” initiative.
The program aims to educate young investors across schools, universities, and social media on blockchain basics, scam detection, and long-term investing benefits.
The SEC is also focusing on regulatory evolution, with plans to streamline its licensing regime.
“We are enhancing our licensing architecture to make it more efficient, more transparent, and more risk-based,” Agama noted.
The commission is exploring a framework for naira-pegged stablecoins, backed by verifiable reserves and audited by independent custodians, to facilitate cross-border trade and programmable finance.
It is also reviewing pathways for digital asset Exchange Traded Funds (ETFs), custodial wallets for pension funds, and tokenized securities for institutional investors.
E-Financial
CBN Issues Transitional Guidance, Says Banks are Healthy

Central Bank of Nigeria (CBN) has introduced time-bound measures for a small number of banks still completing their transition from the temporary regulatory support provided.
The CBN stated yesterday that this step is a response to the economic impact of the COVID-19 pandemic.
This step, the CBN said, is part of its broader, sequenced strategy to implement the recapitalisation programme announced in 2023.
CBN disclosed that the programme, which aligns with Nigeria’s long-term growth ambitions, has already led to significant capital inflows and balance sheet strengthening across the sector.
It said most banks have either completed or are on track to meet the new capital requirements well before the final implementation deadline of March 31, 2026.
It added that the measures announced apply only to a limited number of banks saying that these include temporary restrictions on capital distributions, such as dividends and bonuses, to support the retention of internally generated funds and bolster capital adequacy.
A statement by Mrs Hakama Sidi Ali, acting director, Corporate Communication of the apex bank, explained that all the affected banks have been formally notified and remain under close supervisory engagement.
“To support a smooth transition, the CBN has allowed limited, time-bound flexibility within the capital framework, consistent with international regulatory norms. Nigeria generally maintains Risk-Based Capital requirements that are significantly more stringent than the global Basel III minimums.
“These adjustments reflect a well-established supervisory process consistent with global norms. Regulators in the U.S., Europe, and other major markets have implemented similar transitional measures as part of post-crisis reform efforts,” the bank stated.
It further added that it remains fully committed to continuous engagement with stakeholders throughout this period via the Bankers’ Committee, the Body of Bank CEOs, and other industry forums.
The goal is to ensure a transparent, predictable, and collaborative regulatory environment.
It assured that Nigeria’s banking sector remains fundamentally strong, explaining that the new measures are neither unusual nor cause for concern; they are a continuation of the orderly and deliberate implementation of reforms already underway.
E-Financial
Loan Defaulters Risk Denial of Passport Renewal, Others- CREDICORP

Uzoma Nwagba, managing director, Nigeria Consumer Credit Corporation (CREDICORP), has announced that failure to repay loans may soon affect citizens’ access to essential services such as passport renewal, driver’s licence issuance, and even renting a home.
Nwagba disclosed this on Tuesday during a ‘Meet the Press’ session organised by the Presidential Media Team at the State House in Abuja.
According to the CREDICORP boss, the Federal Government was working to link individual credit scores directly to the National Identification Number (NIN), as part of efforts to build a centralised and reliable credit system across the country.
He said all loan providers, whether commercial banks, FinTechs, or microfinance institutions, will be mandated to report loan performance, ensuring every Nigerian has an accurate and traceable credit score.
“Maybe you want to renew your passport, but if something shows that you owe money somewhere, you may not be able to proceed,” he said.
“The same applies to renewing your driver’s license or renting a house. There is no hiding place.”
He clarified that the new policy will not be predatory but will impose subtle and structured consequences on defaulters.
“Whether your money is in a commercial bank, FinTech, or microfinance institution, loans taken and not repaid will be tracked and recoverable,” he added.
Nwagba explained that the goal was to ensure that every Nigerian is scored, using a structural algorithm that considers both financial and non-financial data.
CREDICORP’s mandate, he said, includes improving quality of life, reducing corruption driven by financial desperation, and strengthening local industries by enabling Nigerians to access consumer credit to buy locally made goods.
“The President has made it clear that improving lives is a top priority. If people can access credit responsibly, it reduces the pressure that pushes them into corruption or financial missteps. At the same time, it drives demand for Nigerian products and helps create jobs,” he stated.
The CREDICORP boss also revealed plans to roll out a nationwide consumer credit programme targeting 400,000 young Nigerians, beginning with National Youth Service Corps (NYSC) members under the YouthCred scheme.
According to him, the programme’s systems and platforms are fully set up, for imminent official launch.
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