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A Techpoint Africa analyst, Chimgozirim Nwokoma, stated that Flutterwave's acquisition of a microfinance bank license signifies a strategic pivot towards lending, potentially leveraging its payment data for new financial services.
Wema Bank has been honoured with two prestigious awards at the 2026 Global SME Banking Innovation Awards, recognizing its significant contributions to SME financing and digital banking solutions in Nigeria. The bank was named SME Financier of the Year and secured the Best SME Lending Product – Digital Bank award.
Signature Bank Limited has successfully raised its capital to ₦52 billion, exceeding the ₦50 billion threshold mandated by the Central Bank of Nigeria. This achievement aligns with the CBN's recapitalisation initiative aimed at strengthening the financial sector.
The financial ties between Singapore and Indonesia are becoming stronger as digital remittance solutions facilitate personal money transfers. Indonesians in Singapore are sending funds back home for various purposes, while Singapore residents also need reliable ways to transfer money to Indonesia.
The Bank of Industry has received the green light from the Central Bank of Nigeria to initiate a Non-Interest Banking Window, enhancing ethical financing options for micro, small, and medium enterprises across the country.
Coronation Merchant Bank is celebrating its decade-long journey with ambitious plans to extend its reach beyond Nigeria, targeting growth across the African continent amid economic reforms that offer new opportunities.
PayPal is teaming up with Paga to facilitate inbound payments in Nigeria, but its 2026 re-entry is facing strong opposition. Many Nigerians express frustration over past experiences with the platform, citing issues like frozen accounts and lost funds, while highlighting the growth of local fintech alternatives during PayPal's absence.
