The Central Bank of Nigeria (CBN) is the country's apex monetary authority, established by the CBN Act of 1958 and officially commencing operations on July 1, 1959
How Breet Financed Its First 1,000 Days Without Venture Capital
Breet launched in February 2021 amid Nigerian banking restrictions on cryptocurrency transactions. The Central Bank of Nigeria ordered banks to close accounts linked to cryptocurrency exchanges, complicating operations for crypto businesses.
As algorithms shape financial inclusion, accountability must keep pace
AI is being used in Nigeria's fintech sector to influence credit access and fraud detection. Formal financial inclusion in Nigeria rose to 64% in 2023, up from 54% in 2020.
“We had no clear path about how this was going to turn out”: Day 1-1000 of Blaaiz
Ifelade Ayodele launched Blaaiz in 2023 as a cross-border payments startup. Initially, Blaaiz was a Telegram bot that facilitated money transfers.
Stabyl emerges from stealth with $2.7 million for Africa’s FX infrastructure
A conversation between MBA students at the University of Oxford led to the founding of Stabyl. Stabyl has secured a $2.7 million pre-seed investment led by Konga.
CBN data localisation push raises concerns among fintech executives
The CBN's directive requires all payment-related data to be stored and processed within Nigeria by January 2027. Fintech executives express concerns about the local data ecosystem's readiness to handle the migration of payment data.
