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E-Financial

Twitter Adds Flutterwave, Paga as Available Payment Providers to Tips in Nigeria

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Whether you want to tip small business owners, emerging artists you admire, or your favorite creators whose Tweets you find entertaining — whoever you want to support, Tips is here to help you do it.

In May 2021, Twitter started experimenting with this feature with a small group of people on the platform, including journalists, creators, and more. Since then, Tips has become available on iOS and Android, and to everyone who is 18+ on Twitter, including in Nigeria and across the continent. It is a new way to monetize on Twitter and enables people on the service to send and receive funds as a token of appreciation.

Starting today, Twitter is adding the pan-African payment solutions Barter by Flutterwave and Paga as additional payment providers to Tips. Barter is a web and mobile app, from leading payments technology company, Flutterwave, that lets you send and receive money from abroad instantly, and safely, at affordable rates.

Paga is a payment and financial services ecosystem for Africa. Their consumer app enables consumers to access and use money in the most convenient way for them.

How does it work?

Turning on Tips adds an icon next to your profile, which will now also have a link to Barter and Paga, for quick and easy person-to-person tipping. Tap the icon, and you’ll see the payment services or platforms that the account has enabled, you can select whichever you prefer.

Once you select the service you want to use, you’ll be taken off Twitter to the selected app to send funds. Twitter takes no cut. Barter and Paga join Chipper, which was rolled out in 2021, as payment services available for people in various African countries.

Adding your Bitcoin address to Tips

Additionally, when you enable Tips on your profile, you can also add your Bitcoin address. People can copy your address and paste it into a Bitcoin wallet of their choice to send you a payment directly.

Commenting on Barter’s inclusion as a payment provider to Tips, CEO and Founder of Flutterwave, Olugbenga ‘GB’ Agboola said, “As a frequent Twitter user, creators, artists and businesses add immense value to my experience on the platform —creating an avenue to reward or tip them is a good step in the right direction by Twitter. So we’re excited to be partnering with them to create a safe, fast and easy way to tip these amazing creators through Barter by Flutterwave.

“We have the reach and abilities to enable creators from Africa to receive tips from parts of the world. I will likely be one of the biggest users of Tips, and that’s because it’s an awesome feature that has huge potential for the creator economy in Africa.”

Tayo Oviosu, the Founder and CEO of Paga, said, “Our mission at Paga is to simplify payments for individuals and businesses. Through this partnership with Twitter, via Tips, we can create an effective way for Creators to get paid into their Paga accounts, directly from Twitter.

“As an avid Twitter user, I’m thrilled about this partnership. Creators are a key demographic we are building for at Paga, and this partnership allows us to enable them to effectively monetize their work. We are really excited about solving payments in the most innovative ways, especially with companies such as Twitter”.

Through the payment partner interface, people will be able to support individuals and organizations across Nigeria and the sub-Saharan region via multiple modes of payment including UPI, credit and debit cards, net banking, wallets and more.

The inclusion of additional payment providers to Twitter’s Tips feature represents an expansion of access to pathways for people on the continent to get paid, as Twitter expands its Africa presence since setting up operations in Ghana.

It also marks a major step in Digital currencies that encourage more people to participate in the economy and help people send each other money across borders and with as little friction as possible.

 


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E-Financial

UBA Announces Successful Completion of System Upgrade

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United Bank for Africa (UBA) has successfully completed its much-anticipated system upgrade, restoring all banking services to normalcy.

UBA Announces Successful Completion of System Upgrade

In a message to customers, UBA reassured customers that they could now log in to the mobile app and enjoy a smoother, more efficient banking experience.

The bank acknowledged any inconvenience caused by the process and reaffirmed its commitment to providing top-tier financial services.

“We are pleased to inform you that our mobile app upgrade has been completed, and all services have been fully restored. You can now log in and enjoy a smoother banking experience and improved services,” UBA announced.

While the upgrade promises enhanced functionality and reliability, UBA urged customers experiencing any lingering issues to reach out to its 24-hour Customer Fulfilment Centre via 02012808822 or email cfc@ubagroup.com for prompt assistance.

With the completion of the process, UBA reassured its customers of its dedication to innovation and excellence in banking.

 


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E-Financial

SERAP Gives CBN 48-Hour Ultimatum to Withdraw ATM Fee Hike

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Socio-Economic Rights and Accountability Project (SERAP) has called on the Central Bank of Nigeria (CBN) to immediately revoke its recent increase in Automated Teller Machine (ATM) transaction fees, describing the move as “Patently unlawful, unfair, unreasonable, and unjust.”

SERAP Gives CBN 48-Hour Ultimatum to Withdraw ATM Fee Hike

In an open letter addressed to Olayemi Cardoso, governor, CBN, and dated February 15, 2025, SERAP warned that the fee hike would worsen economic hardship for millions of Nigerians, particularly those at the lower end of the financial spectrum.

The rights group gave the apex bank a 48-hour deadline to reverse the policy or face legal action.

The CBN’s new directive mandated that ATM withdrawals at off-site locations, such as shopping malls, airports, and standalone cash points, will attract an N100 charge per N20,000 withdrawal.

Additionally, a surcharge of up to N500 may apply for transactions conducted at certain locations. The new fees are set to take effect from March 1, 2025.

In its letter, signed by Kolawole Oluwadare, deputy director, SRERAP criticized the policy, arguing that it would disproportionately affect struggling Nigerians while benefiting commercial banks.

“The manifestly unfair increase in ATM transaction fees will hit hardest those at the bottom of the economy and exacerbate the growing poverty in the country,” SERAP stated.

The organization further argued that financial institutions should bear the cost of banking operations, rather than shifting the burden onto customers, particularly those with limited financial means.

SERAP accused the CBN of prioritizing the interests of banks over the welfare of ordinary Nigerians, many of whom already struggle with the high cost of living.

The group pointed out that banks continue to report record-breaking profits while imposing excessive charges on customers.

“CBN policies should not be skewed against poor Nigerians and heavily in favour of banks that continue to declare trillions of naira in profits, mostly at the expense of their customers.

“The increase in ATM transaction fees will inflict misery on Nigerians and contribute to human rights abuses,” the letter read.

SERAP also noted that the policy contradicts President Bola Tinubu’s commitment to tackling poverty in Nigeria.

The rights group argued that the CBN’s action violates multiple legal provisions, including the Nigerian Constitution, the CBN Act, and the Federal Competition and Consumer Protection Act.

SERAP highlighted specific sections of these laws that prohibit unfair business practices and protect consumers from exploitative charges.

According to SERAP, the increase in ATM fees discriminates against low-income Nigerians who may struggle to afford the higher fees, creates a two-tiered financial system that favours the wealthy, contradicts the CBN’s stated mission to promote national economic well-being, and violates international human rights obligations under the United Nations Guiding Principles on Business and Human Rights,

“The CBN has responsibilities under the UNGPs to take effective steps to avoid or mitigate potential human rights harm and to consider ending any charges or transaction fees where severe negative human rights consequences cannot be avoided or mitigated,” SERAP asserted.

“We would be grateful if the recommended measures are taken within 48 hours of the receipt and/or publication of this letter.

“If we have not heard from you by then, SERAP shall take all appropriate legal actions to compel you and the CBN to comply with our request in the public interest,” the letter warned.

 

 

 


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FG Seeks Fresh $300m Loan from World Bank for Health Security

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Federal government has engaged the World Bank for a fresh $300m loan to strengthen Nigeria’s health security infrastructure.

FG Seeks Fresh $300m loan from World Bank for Health Security

Information obtained from the World Bank showed that the loan, which is under consideration, will be implemented by the Nigeria Centre for Disease Control (NCDC) with the Federal Ministry of Finance acting as borrower on behalf of the Federal Government.

According to information on the World Bank website, the loan project is expected to “increase regional collaboration and health system capacities to prevent, detect, and respond to health emergencies in the Federal Republic of Nigeria.”

The project is currently in the pipeline stage, with the disclosure date scheduled for February 6, 2025.

The World Bank board is expected to give its approval on July 30, 2025, following necessary assessments. The appraisal is set for April 14, 2025, and implementation will commence in the 2026 fiscal year.

According to a document on the concept of environmental and social review, the Nigeria Health Security Programme aligns with broader government efforts to enhance disease surveillance, diagnostic capabilities, emergency response, and laboratory networks across the 36 states and the Federal Capital Territory.

The programme’s primary objective is to enhance regional collaboration and strengthen Nigeria’s health systems to deal with emergencies. It falls within the World Bank’s investment in health, nutrition, and population sectors across Western and Central Africa.

According to the Environmental and Social Review Summary of the project, HeSP will expand molecular laboratory capacity, upgrade primary healthcare centres, establish emergency operation centres, and construct warehouses.

It will also deploy mobile laboratories and install water, sanitation, and hygiene facilities alongside solar energy systems to support health infrastructure improvements.

Although the total project cost is yet to be determined, the World Bank has committed $300m to the initiative. The funds aim to bolster Nigeria’s pandemic preparedness and improve response mechanisms for public health threats.

The initiative comes as Nigeria strengthens its public health infrastructure following lessons from previous outbreaks, including COVID-19.

If approved, the loan will support the NCDC in improving disease surveillance, diagnostics, emergency response, and laboratory services.

Nigeria has previously secured funding from international financial institutions to boost healthcare resilience, including financing for vaccine procurement, emergency medical services, and infrastructure development.

However, the project, categorised as a high-priority public health intervention, carries substantial environmental and social risks due to potential health, safety, and ecological concerns associated with infrastructure expansion.

Identified risks include increased medical waste, occupational hazards, and heightened energy and water demands.

Social risks range from potential grievances from stakeholders to concerns over land acquisition and implementing health interventions in conflict-prone areas.

 


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