In the midst of Nigeria’s digital banking struggles, OPay is rising to the occasion.
On Friday morning, I took an impromptu trip from Abuja to Kaduna. The Bolt ride from Asokoro to the car park in Mabushi cost ₦1500 and I paid via transfer…
Cash scarcity lingers as banks await CBN’s response to Supreme Court ruling
Three days after a Supreme Court ruling on Friday upholding the validity of old banknotes until December 2023, the cash scarcity Nigerians have experienced since February is still ongoing. Many…
Nigeria’s presidential elections are over but the cash crisis continues
Days after Nigeria’s presidential elections, Nigerians are still suffering the effects of the currency redesign as the cash crisis continues. Several bank customers have been in queues for cash for…
The fate of digital finance in Nigeria’s fintech sector
This article was submitted to TechCabal by Nicolas Teisserenc. Nicolas runs Poinciana, a communications consultancy specialising in Africa Over the last decade, fintech has become perhaps the most exciting industry…
Messy currency handover persists as banks reject old notes
Across Lagos, most commercial banks are refusing deposits of old ₦200, ₦500 and ₦1,000 notes from customers, citing the currency redesign deadline set by the Central Bank of Nigeria. The…
Nigerian supreme court halts the FG ban on old naira notes
The International Monetary Fund (IMF) urged Nigeria’s Federal Government and Central Bank to extend the cutoff date for the use of the 200, 500, and 1000 naira notes as legal…
Banks to continue collecting old naira notes after exchange deadline
The Central Bank of Nigeria (CBN) and the House of Representatives have agreed to extend the time limit for the redemption of old naira notes in compliance with Section 20…
Bank traffic dips and cash crisis worsens as CBN extends deadline
After insisting a week ago that a January 31 deadline was irreversible, Central Bank Governor Godwin Emefiele, announced the extension of the currency exchange deadline today. Nigerians now have until…
Farida Nabourema is teaching people how to liberate themselves with Bitcoin
Farida Nabourema is a Togolese activist who was born and raised under a military regime. From the time she was a child, Nabourema watched her grandfather and father oppose the…
Kenya wants to spy on mobile money to collect taxes
Kenya cannot afford high taxes. They stifle growth, cut investment, and deter business. But it also cannot afford its mounting debt. So the government plans to throw a bigger tax…