30 results
- 15 Mar 2021
NITDA Slams N5m Fine on ESL over Data Breach
National Information Technology Development Agency (NITDA) has placed a five million (N5m) fine on Electronic Settlement Limited (ESL) over personal data breach that occurred at the company. NITDA…
- 7 Dec 2023
NIBSS Orders Banks to Suspend Opay, Flutterwave, Others from Transfer List
Nigeria Inter-Bank Settlement System (NIBSS) has asked banks to delist Payment Solution Service Providers (PSSPs) Switches and Super Agents from its outward payment or transfer list. Payment Solution…
- 21 Aug 2017
Settlement Delays, Issuers Inoperative Hobble PoS Penetration
Stakeholders in the electronic payment ecosystem have identified delay in settlements by some banks as well as issuers inoperative among factors militating against increase in Point of Sale terminals…
- 27 May 2018
Verve, GhIPSS Partner to Ensure Wider Acceptance of EMV Cards in Ghana
Verve International, Africa largest Pan-African payment brand, has announced its partnership with Ghana’s Interbank Payment and Settlement Systems Limited (GhIPSS) in a bid to ensure wider acceptance…
- 2 Mar 2015
FIRS, NIBSS, Systemspecs Sensitise Taxpayers on eFiling
Federal Inland Revenue Service (FIRS), the Nigerian Interbank Settlement System (NIBSS) and Systemspecs Limited, have jointly organised a stakeholders' forum as part of efforts to create awareness on…
- 9 Oct 2013
EPPAN Calls for Upgrade of Infrastructure for Cashless Regime Boom
Electronic Payment Providers Association (EPPAN) has reiterated the need for Nigeria to upgrade its infrastructure ahead of the boom in ePayments in the country, even as it stressed that more…
- 19 May 2012
NIBSS Names Folashodun Adebisi Shonubi New CEO
The Board of Directors of Nigeria Inter-Bank Settlement System (NIBSS) Plc has announced the appointment of Folashodun Adebisi Shonubi, as the new Managing Director/CEO of the foremost electronic…
- 12 Mar 2026
Court Freezes Bank Accounts of Petrocam, Founder over Alleged N9Bn Zenith Bank Debt
Federal High Court sitting in Lagos has ordered the freezing of bank accounts belonging to Petrocam Trading Nigeria Limited and Patrick Ilo, its founder, over an alleged N9.05 billion debt. Patrick…
- 10 Feb 2022
Positive Indicators for Nigeria's Digital Economy
Nigeria's fast growing youth population, expanding consumer power, and increasing smartphone penetration, provides a strong basis for online commerce and financial technology in Nigeria. The current…
- 25 Feb 2016
Confusion as CBN Says eTranzact, Others not Licensed PSSPs
Central Bans of Nigeria (CBN) has claimed that only four e-payment firms in the country are licensed as Payment Solution Service Providers (PSSPs), according to financialtechnologyafrica.com. The…
- 21 Mar 2016
Interswitch Emerges Most Efficient Payment Processor in Nigeria
Interswitch Limited, Africa’s leading digital payments and commerce provider has emerged as a multiple award winner at the maiden edition of the Electronic Payment Incentive Scheme (EPIS) Awards…
- 15 Oct 2025
E-Payment Transactions Drop 1.21% To N107.56trn in September
The value of transactions through electronic payment (e-payment) channels in the country fell by 1.21 percent, or N1.32 trillion, to N107.56 trillion in September 2025 from N108.88 trillion in the…
- 11 Oct 2019
IFINCA Sets to Honour Firms Pushing CBN’s Financial Inclusion Services
As the financial inclusion project of the Central Bank of Nigeria continued to gather steam in Nigeria and across the globe among firms, policy-makers and the media, the project is having a positive…
- 29 May 2025
Africa Cross-border Payments Set to Hit $1 trillion by 2035
Africa’s cross-border payments market is on track to hit $1 trillion by 2035, according to a new report by venture capital firm Oui Capital. Titled "Africa’s Cross-Border Payment Landscape—a deep…
- 19 Apr 2015
IFC, Mastercard Deepen Partnership to Boost Financial Inclusion
IFC, a member of the World Bank Group, and MasterCard have signed an agreement to establish a risk-sharing facility, which is expected to provide millions of people in emerging markets access to…
- 13 Sept 2024
CBN Orders PoS Operators to Route all Transactions through NIBSS or UPSL
Central Bank of Nigeria (CBN) has announced new regulations for processing Point of Sale (PoS) transactions across the country, directing that all POS transaction are to be routed wither through the…
- 29 Mar 2019
Upperlink to Provide State Govts with Improved TSA Solutions
Upperlink Limited, has shown its readiness to provide state governments with an improved Treasury Single Account solutions, even as the company have won the 2019 edition of Central Bank of Nigeria ’s…
- 23 Jun 2014
Banks Lose N159Bn to Cyber Crimes
Nigerian banks lost a total of N159 billion to electronic fraud between 2000 and the first quarter of 2013, Nigerian Inter-Bank Settlements Systems (NIBSS Plc) has said. The organisation, however,…
- 9 Sept 2017
Cybercrime: Stakeholders at ICT Forum Worry Over N127Bn Annual Losses
Stakeholders who gathered at this year’s edition of the African Digital Awards (ADA) have expressed worry over and seek measures to curb N127 billion annual estimated economic losses to rising wave…
- 26 Mar 2019
Global Accelerex Bags CBN Award for PoS Transactions Performance
Global Accelerex Limited, one of Nigeria's leading payment terminal service provider and payment solution service provider, has been rewarded for its exceptional performance in the Nigerian…
- 17 Dec 2024
CBN Pegs Daily Transaction Limit on PoS Agents @ N1.2m
The Central Bank of Nigeria (CBN) has restricted Point of Sales (PoS) agents to a daily transaction limit of N1.2 million. The apex bank revealed this in its ‘Circular on Cash-Out Limits for Agent…
- 12 Sept 2024
CBN Directs Payment Service Providers to Tracking POS Transactions
Central Bank of Nigeria (CBN) has issued a new directive mandating that all Point-of-Sale (PoS) transactions at merchant and agent locations, whether physical or electronic, must be routed through a…
- 12 Sept 2024
CBN Tightens Grip on Electronic Transactions with New Rules for PoS
The Central Bank of Nigeria (CBN) has announced new regulations for processing Point of Sale (PoS) transactions across the country, directing all acquirers to route their transactions through any…
- 8 Sept 2025
WATISE 2025: Stakeholders Rally to Unlock West Africa’s Trillion-Dollar Digital Economy
The 2025 West Africa Telecommunications Infrastructure Summit & Exhibition (WATISE), held at the Radisson Blu Hotel in Lagos, concluded with a unified call for strategic partnerships, inclusive…
- 11 Jun 2014
E-PPAN' 3rd Summit Focuses on Increasing Govt Revenue Via E-Payment
The E-Payment Provides Association of Nigeria (E-PPAN) is set to host the 3rd edition of its Annual E-Payment Government Summit from the 8th – 9th of July 2014 at the Shehu Musa Yar’adua Centre,…
- 16 Jul 2026
CBN Introduces Digital Tracker to Monitor BDC Forex Transactions
The Central Bank of Nigeria (CBN) has launched a new system to monitor how Bureau De Change (BDC) operators buy foreign exchange in the country. Under the new arrangement, all licensed BDCs must…
- 9 Mar 2009
Shares’ Certificates: Intrigues, Power Play Stall Full Dematerialization
High-wire maneuverings by powerful shareholders in Nigeria opposed to dematerialization of shares’ certificates have led to delays in the full implementation of the system whereby all share…
- 15 Jun 2015
Reliance Infosystems Reveals New Framework to Fight Financial Fraud
In recent times, many corporate organizations in Nigeria have, especially those in the financial sector, have fallen victims of electronic (financial) frauds, but Reliance Infosystems has confirmed…
- 17 Jul 2026
CBN to Monitor Every Dollar with FXBT, Forex Tracker
Central Bank of Nigeria (CBN) has launched a new digital platform to track every foreign exchange transaction involving Bureaux De Change (BDC) operators, marking a major step in its efforts to…
- 12 Feb 2025
E-Payment Transactions Down 3.14% to 119.84trn in January - FDC
Transactions through electronic payment (e-payment) channels in the country declined by 3.14 per cent to N119.84 trillion in January 2025 from the N123.72 trillion recorded in the previous month, a…