Exploring the surge in fraud in Nigeria's burgeoning fintech industry
11,532 fraud cases reported in Q2 2024, up from 11,472 in Q1. Losses from fraud increased from ₦2.9 billion in Q1 to ₦56.3 billion in Q2 2024.
Regfyl, a Nigerian fraud detection company, raises $1.1million to expand team and build new compliance product
Regfyl raised $1.1 million in pre-seed funding. Funding led by Rally Cap with participation from Techstars, DCG, and others.
Nigeria's SEC grants crypto licence to Busha and Quidax
The Nigerian SEC has granted provisional licenses to Quidax and Busha as part of its regulatory incubation program. The licenses aim to bring order to the crypto space in Nigeria while fostering innovation and protecting investors.
NIBSS joins Zone’s blockchain payment network to include PoS standardisation functions on the blockchain
Zone has partnered with NIBSS to add PTSA functions to its blockchain payment infrastructure. The partnership will improve interoperability across the PoS payment value chain.
Dubai's Network International launches Network One in Nigeria, plans to onboard banks, fintechs
Network International introduces its digital payment platform, Network One, to Nigeria. The platform aligns with the Central Bank of Nigeria's directive for in-country transaction routing.
