Visa has invested $10 million in Nigerian fintech unicorn Moniepoint, marking a significant step toward expanding contactless payments across Africa. Moniepoint, a leader in agent banking with over 200,000 PoS agents, processes $22 billion in monthly transactions. This partnership aims to deepen financial inclusion, empower SMEs, and address the challenges of cash-dominated microtransactions in Africa’s $1.4 trillion retail market.
Nigeria's energy sector recorded a groundbreaking $6.7 billion investment in 2024, with significant contributions to oil and gas, clean energy, and metering initiatives.
Public debt in Nigeria rose to N142.3 trillion in Q3 2024, reflecting a 5.97% increase due to naira depreciation and higher domestic borrowing. This report delves into the key drivers, debt components, and implications for the nation’s fiscal health.
The United States has signed an agreement with Nigeria to repatriate $52.88 million in forfeited corruption proceeds.
Amazon Web Services now accepts Naira payments, easing financial barriers for Nigerian businesses. This move empowers startups and SMEs to access AWS's robust cloud services.