SEC warns against Tofro.com, flags crypto platform as unregistered and fraudulent
The SEC warned that Tofro.com is not registered or authorized to solicit investments from the Nigerian public. Tofro.com displays multiple red flags associated with Ponzi schemes, including promises of unusually high returns.
Nigeria’s Central Bank To Launch Open Banking in August 2025
Nigeria's Central Bank has approved the launch of open banking, starting August 2025. This makes Nigeria the first African country to implement open banking.
Core banking migrations: Fintechs to the rescue
Core banking migrations have halted services for traditional banks in Nigeria. Users have turned to fintech platforms for financial transactions during service interruptions.
