Nigeria’s participation in the Pan-African Payment and Settlement System (PAPSS) recorded a sharp decline in the first half of 2025. The value of cross-border transactions processed through the platform fell by 53 per cent to N5.6 billion, according to the Central Bank of Nigeria’s (CBN) Financial Stability Report for June 30, 2025. The number of …
Nigeria leads Africa’s fast-growing digital payments space as instant payment transactions climbed close to $2 trillion in 2024. This is according to the new report, "State of Inclusive Instant Payment Systems (SIIPS) 2025," released by the AfricaNenda Foundation in partnership with the World Bank and the United Nations Economic Commission for Africa (UNECA). The report …
Every December, Lagos stops being just a city; it becomes a global carnival ground. From Murtala Muhammed Airport down to Victoria Island, Lekki, and the Mainland, the city pulsates with an energy that comes only once a year. Flights from London, Atlanta, Toronto, Dubai, and Johannesburg arrive full of Nigerians in the diaspora ready to …
Africa’s next economic revolution may not come from its oil wells, gold mines, or farmlands but from trust, transparency, and technology. A new survey by Co-Develop, released on the sidelines of the Global Digital Public Infrastructure (DPI) Summit 2025 in Cape Town, has revealed a groundbreaking trend. Across six African countries, citizens overwhelmingly believe that …
Venezuela’s government is quietly allowing the use of dollar-pegged cryptocurrencies in private-sector currency exchanges as U.S. sanctions squeeze oil revenues and reduce the flow of foreign currency. U.S. restrictions on oil exports, described by Caracas as “economic war,” have made it harder for businesses to access dollars. Companies seeking raw materials must often exchange bolivars …
