Nigeria’s fintech regulators seen as neutral referees, not roadblocks, new CBN report finds
Half of fintech stakeholders view the regulatory landscape as supportive, while the other half see it as restrictive. Ambiguity in regulatory guidelines and prolonged approval timelines are the most significant challenges faced by fintechs.
Nigeria holds rates at 27% to cement inflation wins
Nigeria's central bank retained the benchmark interest rate at 27% to safeguard inflation gains. The decision rules out further rate adjustments until at least 2026.
Faced with a failing currency, this Nigerian startup found a global market for IT equipment
Francis Osifo faced challenges in sourcing a laptop for an employee in Kenya while at 54gene, leading to a two-month customs delay. After leaving 54gene, Osifo founded Rayda to provide visibility into asset management for businesses.
Nigeria nets ₦84.97 billion in six months after extending transfer levy to fintechs
Kemi Michael learned to avoid extra charges by sending ₦9,500 instead of ₦10,000 to her PoS agent. The EMTL increased government revenue by ₦84.97 billion after being extended to fintechs in December 2024.
Nigeria’s Central Bank holds rates thrice in a row
Olayemi Cardoso maintained borrowing costs at 27.50% during the third interest rate meeting. The Central Bank's decision was influenced by a recent easing in consumer prices.
