The Chinese Dragon Has Entered Our Digital Wallet What China’s Quiet Fintech Expansion Means for Nigeria’s Payments Future Introduction For decades, China’s presence in Nigeria has been highly visible — roads, railways, power projects, telecommunications infrastructure, and manufacturing hubs. But a quieter, less obvious shift is now taking place. The Chinese dragon has entered something far more intimate than highways or ports: our digital wallets. From payment rails and point-of-sale infrastructure to smartphone ecosystems and cross-border settlement technology, Chinese-linked fintech influence is increasingly embedded in how Nigerians send, receive, and store money. This development is not always obvious to everyday…
Author: FinTech Today
Chowdeck Expands Quick Commerce with GoLemon Dark Store Partnership Chowdeck Taps GoLemon to Supply Dark Stores in New Instant Delivery Push Chowdeck, Nigeria’s fast-growing delivery startup, has entered a strategic partnership with GoLemon, a local online grocery platform, to supply groceries to Chowdeck’s network of dark stores and expand its instant delivery services The collaboration will allow Chowdeck customers to access a curated selection of GoLemon’s grocery essentials instantly through the Chowdeck app — while GoLemon continues to operate its own platform for next-day grocery delivery and larger shopping baskets. What’s Behind the Partnership Under the arrangement: GoLemon will supply…
CBN Revokes Operating Licences of Aso Savings, Union Homes The operating licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc have been revoked by the Central Bank of Nigeria (CBN) as part of efforts to strengthen the mortgage sub-sector and enforce compliance with banking regulations. Mortgage banks are financial institutions that provide home loans and other housing finance products, and so, they are strictly regulated by the CBN to protect customers and ensure the stability of Nigeria’s financial system. According to a post by the Acting Director of Corporate Communications of CBN, Mrs. Hakama Ali, on…
Nigerian Capital Market Hits ₦95 Trillion in 2025 — NGX Chairman Nigeria’s capital market has crossed a major milestone, with total market capitalisation rising to over ₦95 trillion in 2025, more than doubling within a year, according to the Chairman of the Nigerian Exchange Group (NGX Group), Umaru Kwairanga. Kwairanga described the market’s performance in 2025 as “very good” and almost transformative, citing government reforms, growing investor confidence, banking sector recapitalization, and major technological improvements as key drivers of the surge. Market Capitalisation More Than Doubles in One Year Speaking during an interview on Arise News on Monday, Kwairanga noted…
ECN Upgrades Information Processing Techniques for Digital Transformation The Energy Commission of Nigeria (ECN), a key player in the country’s energy sector, has embarked on a significant journey to enhance its operations with new advanced technology solutions. This step is aligned with the Federal Government’s broader goals of digital transformation across various ministries, agencies, and sectors. As part of its ongoing capacity-building initiatives, the ECN has undertaken measures to upgrade its information processing techniques and digital infrastructure. This process aims to ensure that the ECN is equipped to handle the rapidly advancing technological landscape while improving its service delivery capabilities.…
How FairMoney Is Powering Financial Inclusion for Nigerian Hustlers Urbanization is reshaping Nigeria’s economic landscape, creating new possibilities for millions of young people who relocate each year in search of opportunity. Cities like Lagos, Kano, and Abuja continue to expand as ambitious Nigerians leave their hometowns with the hope of building stable, sustainable livelihoods. Recent figures highlight the pace of this shift. As of 2024, more than half of Nigeria’s population – around 128 million people – live in urban areas. Many of these individuals are young entrepreneurs and self-employed workers determined to turn their skills, ideas, and hustle into…
How Much POS Agents Really Make in Nigeria Per Month (Realistic Breakdown) Introduction POS agency banking has become one of Nigeria’s fastest-growing informal and semi-formal businesses. From busy urban streets to rural market centers, POS stands have become an essential part of daily financial life. Millions of Nigerians rely on POS agents for cash withdrawals, transfers, bill payments, and other basic banking services. Yet despite its popularity, one major question continues to divide opinion: how much do POS agents really make in Nigeria per month? Some claim POS agents earn huge profits daily, while others argue margins are shrinking due…