OPay Sued for ₦100 Million by TeamApt & Moniepoint Over Alleged Breach of Banking Ethics and Confidential Data Misuse By Editorial Desk Lagos, Nigeria — Nigerian fintech leader OPay Digital Services Limited, along with its affiliate SOTI Investments Limited, has been dragged before the Federal High Court in Lagos in a high-stakes legal battle that could reshape competitive practices in the country’s digital finance sector. The lawsuit, filed as Suit No. FHC/L/332/2025, was brought jointly by two of the nation’s foremost financial technology entities: TeamApt Limited and Moniepoint Microfinance Bank Limited. (Kanyi Daily) Core Allegations in the Suit According to…
Author: FinTech Today
Nigeria Moves to Replace Its National ID System: A Misstep Could Lock Out Millions Nigeria’s National Identity Management Commission (NIMC) began migrating the country’s foundational identity system onto the Modular Open Source Identity Platform (MOSIP) in July 2025. This shift represents one of the most consequential technological transformations in Nigeria’s digital history, with implications for banking, telecoms, social services, and national security. The migration forms part of the World Bank-backed Nigeria Digital Identity for Development (ID4D) programme, which has committed over $430 million to reshaping identity infrastructure. Recently, NIMC issued an $83 million tender for a system integrator to deploy…
Nigeria’s Q3 2025: Rising Stars — The Ten Fastest‑Growing Sectors Nigeria’s economy posted a 3.98 percent year‑on‑year growth in Q3 2025, a modest uptick from 3.86 percent in the same period of 2024. (Nigeria Info, Let’s Talk!) While overall growth moderated slightly compared to Q2, several key sectors — particularly outside oil — delivered strong double‑digit gains, revealing where the real economic momentum lies. Below is a deep dive into the top 10 fastest-growing sectors in Q3 2025: what drove their performance, and why they matter for businesses, investors and policy‑makers. Top 10 Fastest‑Growing Sectors in Q3 2025 Rank Sector Growth Rate (Q3 2025) What…
Lagos Retains Top Spot for Ease of Doing Business — But Poor Internet Remains Its Biggest Weakness Lagos has once again been ranked Nigeria’s best state for ease of doing business, according to the latest report from the Presidential Enabling Business Environment Council (PEBEC). The 2024 ranking reinforces the state’s long-standing reputation as the country’s commercial nerve centre — but also highlights a widening problem that threatens its competitiveness: digital connectivity. Why Lagos Still Leads PEBEC’s annual assessment focuses on how states simplify regulation, attract investment, and modernise government services. Since its launch in 2016, the council has pushed reforms…
Infinix Launches “Make A Wish Worth N10 Million” Christmas Promo with Brand Ambassador Davido Infinix Nigeria has unveiled its biggest festive campaign yet — the Infinix X Davido ‘Make A Wish’ Christmas Promo — giving customers the chance to win instant gifts and a dream wish worth up to N10 million. The promo runs nationwide from December 10 to January 4, 2025. Customers can enter by purchasing any Infinix smartphone, receiving an instant gift, scanning a QR code, and selecting their preferred wish. Prizes include business grants, vacations, house renovations, rent support, or even a car — along with additional…
Cypherock Wants More Africans to Adopt Cold Storage Crypto Wallets By FintechTodayNews Safeguarding digital assets—especially cryptocurrencies—requires the same level of discipline as protecting money in traditional finance. But crypto introduces an extra layer of responsibility: users must secure their own funds without relying on a central authority. This idea of personal financial sovereignty is powerful, but it also makes users the sole custodians of their wallets. Why Self-Custody Matters — and Why It’s Dangerous Crypto originally emerged with non-custodial wallets, giving users complete control of their assets through a private key or seed phrase. The downside?If the user forgets, loses,…
Africa Must Scale Factoring Volumes to €240 Billion to Unlock SME Growth — Afreximbank FintechTodayNews reports that the African Export-Import Bank (Afreximbank) has emphasized the urgent need for Africa to expand its factoring volumes to at least €240 billion if the continent is to close its widening SME financing gap and accelerate economic growth. The call was made by Mrs. Kanayo Awani, Executive Vice President of Intra-African Trade and Export Development at Afreximbank and a Member of the FCI Executive Committee. She delivered the message during Afreximbank’s annual Factoring Workshop in Abidjan, Côte d’Ivoire, according to a statement published on…