A leading financial institution in Nigeria that supports startups through grant competitions.
EXCLUSIVE: Midddleman is raising a six-figure pre-seed to dominate global trade
Midddleman is raising a six-figure pre-seed round expected to complete by Q4 2025. The startup launched an escrow product in 2023 but pivoted to focus on payments.
NIBSS bets on QR codes as a cash alternative for small-value payments
NIBSS has improved the speed of QR code payments by eliminating separate fee queries and enhancing security. NIBSS partnered with the Lagos State government to test QR code bill payments, achieving 750,000 transactions in the first week.
NIBSS joins Zone’s blockchain payment network to include PoS standardisation functions on the blockchain
Zone has partnered with NIBSS to add PTSA functions to its blockchain payment infrastructure. The partnership will improve interoperability across the PoS payment value chain.
Shifting Tides: Nigerian Banks Embrace Local Card Schemes Amidst Changing Consumer Behav
Banks in Nigeria are adopting local card schemes like Verve, moving away from international giants such as Visa and Mastercard. The pandemic has reduced reliance on card payments, leading to the popularity of bank transfers.
UBA to raise fresh capital through sale of 10.8 billion ordinary shares
UBA plans to raise fresh capital by selling 10.8 billion new ordinary shares. The bank will prioritize existing investors in the planned share sale.
