CBN cracks down on fraud with new rules for transaction monitoring

Post AMUGEFebruary 20, 2024

Commercial banks’ loan to government hits N26trn,says CBN

Business a.m The Central Bank of Nigeria (CBN) has taken new measures to combat the growing threat of fraud in the country’s financial sector, requiring banks to implement automated transaction monitoring systems. The apex bank, in a recent document  titled “Revised Consumer Protection Regulations”, on its website, stipulates that banks must also test the suitability […]

Nomba raises $30 million Pre-Series B  to facilitate bespoke payment solutions for African businesses

May 2, 2023

Nomba raises $30 million Pre-Series B  to facilitate bespoke payment solutions for African businesses

By Cynthia Ezekwe Nomba, a licensed payment service provider for African businesses, has raised a $30 million pre-series B funding round to support the delivery of bespoke payment solutions for African businesses. The fintech company,in a statement, said  the oversubscribed equity funding round was led by the partners of  Base10, a  San Francisco-based venture capital […]

Venco secures $670,000 pre-seed funding to offer digital solutions African properties

December 6, 2022

Venco secures $670,000 pre-seed funding to offer digital solutions African properties

By Chisom Nwatu Venco, a Nigerian proptech startup that provides solutions to enhance living experiences in residential and commercial communities in Africa, has secured $670,000 in pre-seed funding round to offer digital solutions for residential and commercial properties in Africa. The pre-seed funding round was led by Zrosk Investment Management,and had in participation other strategic […]

Liberta Leasing launches Nirra App to boost consumer finance market 

April 12, 2021

Onome Amuge Liberta Leasing, a Nigerian consumer finance company has introduced an all-in-one loan, lease and lifestyle app with a core focus on providing value with loans, leasing and lifestyle bills payment. The app called ‘Nirra’ was unveiled at a launch event held at Ibis Hotels, Ikeja-Lagos on Sunday, April 11. Speaking at the launch, […]

CBN suspends Paystack, others from offering BVN validation services

April 9, 2021

Crisis hits Nigeria rubber as producers accuse CBN, government of neglect

Wale Ameen Online Editor   In what appears to be a sweeping policy clampdown and shift, the Central Bank of Nigeria has moved to suspend some major Fintechs and third-party partners offering BVN validation services. The apex bank has reportedly suspended Fintechs like Paystack and others from offering BVN validation service. This was revealed by […]

DLM Capital set to join Nigeria’s Fintech space as it obtains MFB license

April 8, 2021

Investment banking group acquires Links Microfinance Bank Set to launch its Sofri digital lending brand in Q2   Charles Abuede     DLM Capital Group, a developmental investment bank (DIB) that provides innovative solutions to economic and social developmental challenges, has announced the receipt of a license for the acquisition of Links Microfinance Bank in […]

Leading East African fintech lender Tugende raises USD 9.9ml in Series A round

April 7, 2021

Series A extension round of 3.6 million brings total funding to 9.9 million Initial round backed by Toyota Group Investment secured by leading fintech and financial inclusion investment banking franchise of Verdant Capital. Wale Ameen Online Editor Leading East African fintech MSME lender Tugende has secured a total of USD 9.9 million in series A […]

Flutterwave: The making of Africa’s third unicorn

March 15, 2021

Wale Ameen On Wednesday, 10th of March a land mark announcement came out from Nigeria and arguably West Africa’s tech epi-centre, Lagos, also the country’s financial hub. And it was the cheering news that one of Nigeria’s need promising Fintech startups, Flutterwave, had just closed its Series C round of funding which saw the seven-year-old […]