The Overseas Private Investment Corporation (OPIC) has committed $200 million to enable Nigerian enterprises to scale and create jobs. David Bohigian, chief executive officer of the United States government’s development finance institution, told BusinessDay at The Hague, Netherlands, that an agreement was signed to the effect with Union Bank of Nigeria…
 
More details through:
https://businessday.ng/exclusives/article/opportunity-opens-for-smes-as-opic-commits-200m-to-nigeria

Digital money transfer company, WorldRemit, says it is expanding its presence in Nigeria by partnering with Paga, a Nigerian mobile money company, for international digital money transfers.
 
A statement said that by using the WorldRemit app or website, the Nigerians in diaspora living in over 50 countries could send money quickly and securely to over 11 million Paga users. It stated, “The new partnership considerably grows WorldRemit’s footprint in Nigeria, expanding the company’s service offering from bank transfer and airtime top-up to include mobile money…
 
More details through:
https://punchng.com/worldremit-partners-paga-on-international-mobile-money-transfers/

Interswitch Group, a Pan-African integrated digital payments and Commerce Company, has signed a £56 million (approximately N26billion) deal with Bekoz UK Ltd, a British transport ticketing company, to enhance transportation ticketing in Nigeria.
 
The deal will leverage technology to keep commuters in Nigeria on the move through the launch of three products developed exclusively for the Nigerian market – the BeCard, the BeVal and the BeReader, with scope to expand this offer throughout Africa…
 
More detail through:
https://businessday.ng/technology/article/interswitch-signs-n26bn-deal-with-british-firm-to-enhance-transportation-ticketing-in-nigeria/
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Paga, a mobile money platform, has processed over 70 million transactions worth $3.33 billion (N1.2 trillion) since its inception ten years ago. 
 
Founder and Chief Executive Officer, Pagatech, Tayo Oviosu, disclosed this in Lagos yesterday at a media presentation on the 10th anniversary of the company, adding that the company is considering extending its services to two other countries…
 
More details through:
https://www.vanguardngr.com/2019/04/paga-records-n1-2trn-mobile-money-transactions-in-10yrs/    

American-based financial technology firm, First Access has entered into partnership with Lagos-based ChamsAccess Limited, to improve the use of digital platforms for micro finance banks in order to increase efficiency and market target. The CEO of First Access, Nicole Van Der Tuin, posited that microfinance banks (MFBs) have huge workloads owing to slow manual processes…
 
More details through:
https://businessday.ng/technology/article/first-access-chamsaccess-collaborate-to-enhance-digital-platform-use-for-mfbs/
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Benoit Claveranne, CEO, International and New Markets at AXA, was in Nigeria for the first time to have a feel of its local subsidiary, AXA Mansard Plc, which the group acquired five years ago. He shares his thoughts on the vision of the group, African market expansion, and interest in the Nigerian market…
 
More details through:
https://www.vanguardngr.com/2019/03/nigeria-is-the-first-market-in-africa-axa/
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Dollar inflow from foreign investors through the Investors and Exporters (I&E) foreign exchange window rose by 94 percent in the first two months of the year. 
 
In a bid to take advantage of high interest rate on government securities (treasury bills and FGN bonds) and low share price    of companies    listed on the Nigerian Stock Exchange (NSE), foreign investors injected $3.5 billion through the I&E window from January to February. This represented 94 percent increase when compared with the $1.8 billion injected in the last three months of last year (fourth quarter of 2018, Q4’18)…
 
More details through: 
https://www.vanguardngr.com/2019/03/ie-forex-window-foreign-investors-increase-dollar-injection-by-94-to-3-5bn/
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The volume of mobile inter-scheme transactions (mobile transfers) via mobile devices increased (year-on-year) by 80.8 percent to 932,355 in February 2019 from 515,692 in February 2018, and on a month-on-month basis by 28.6 percent from 724,803 in January, according to an analysis by BusinessDay.
 
Data from the Nigeria Interbank Settlement System (NIBSS) show that the value of mobile transfers also rose year-on-year by 34.4 percent to N30 billion in February 2019 as against N22.3 billion in the same corresponding period in 2018, while month-on-month it rose by 12.1 percent…
 
More details through:
https://businessday.ng/banking/article/mobile-transfers-in-nigeria-rise-81-in-february-2019/     

New data from WorldRemit, a leading online money transfer service has rated Nigeria the largest remittance receiving country in Africa, even as citizens living abroad sent home a record $25billion (N9 trillion) in 2018. The data showed that as remittances continue to grow, digitally-savvy Nigerian women abroad are sending more money home, and are making an increasing contribution to the country’s development…
 
More details through:
https://guardian.ng/business-services/nigerias-n9tr-remittances-rated-highest-in-africa-in-2018/           

The value of electronic payment transactions (e-payment) rose sharply by 32 per cent to $383 billion (N138 trillion) in 2018, reflecting increased adoption of electronic payments for goods and services…
 
More details through: 
https://www.vanguardngr.com/2019/02/e-payment-transactions-shot-up-by-32-to-n138trn/