A Nigerian agent banking business that aimed to provide financial services through a vast network of agents.
Onafriq tried to sell its Nigerian agent banking business before shutdown
Onafriq announced the shutdown of its Nigerian agent banking business, Baxi, on October 16, 2026. The company cited inflation, naira depreciation, and rising operating costs as reasons for the closure.
Onafriq shuts down its Nigerian agent banking business after five years
Onafriq is closing its Baxi agent banking business in Nigeria after five years. The decision is attributed to inflation, naira depreciation, and rising operating costs.
