Zone hits ₦1 trillion in transactions as Nigerian banks turn to blockchain
Zone processed over ₦1 trillion in transactions on its blockchain network between November 2022 and December 2024. The company recorded 100 million transactions, averaging ₦10,000 per transaction.
Nigeria ends 13-year Remita partnership, launches new treasury system
The Federal Government of Nigeria has terminated its longstanding relationship with Remita. Remita processed $30 billion annually in 2016 from various transactions.
Nigeria abandons treasury single account gateway Remita after 13 years
Nigeria's government is discontinuing its partnership with Remita to introduce the TMRAS payment system. TMRAS will streamline payment collections across ministries, departments, and agencies.
Nigeria’s SEC to fast-track crypto licencing in 2025
The SEC plans to accelerate the issuance of crypto licenses in 2025 as part of its regulatory efforts. Provisional licenses have been granted to Nigerian crypto startups Quidax and Busha under the ARIP.
Moniepoint, OPay, PalmPay responded to 2024 ban with better data collection and compliance
Nigerian fintechs faced fines and a six-week ban on onboarding new users due to compliance issues. The Central Bank of Nigeria (CBN) retired 18 directors, leading to a shift in regulatory stance.
