Daniella eton

LemFi Acquires UK Fintech Pillar to Launch Credit Cards for Immigrants

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LemFi, a Nigerian-founded fintech specializing in remittance and financial services for immigrant communities, has acquired Pillar, a UK-based credit fintech focused on improving credit access for immigrants. The acquisition, marks a significant expansion of LemFi’s product offerings beyond cross-border money transfers to include credit cards and specialized credit products tailored for immigrants in the UK and […]

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PalmPay Eyes $100 Million Series B to Fuel africa, asia expansion.

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What’s Happening? PalmPay, one of Africa’s fastest-growing digital banking platforms, is reportedly preparing to raise between $50 million and $100 million in a Series B funding round. While the exact valuation remains undisclosed, the fintech founded in 2019—is already profitable and has amassed over 35 million users, processing millions of daily transactions. The fresh capital

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UBA Makes Agent Banking Comeback with 46,000 Upgraded PoS Terminals

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Whats Happening? United Bank for Africa (UBA) Plc is making a strong return to Nigeria’s Point of Sale (PoS) market by rolling out 46,000 upgraded Redpay PoS terminals aimed at reclaiming market share from fintech rivals like Moniepoint, OPay, and PalmPay. Since January 2025, UBA has deployed over 6,000 terminals, with 40,000 more expected soon.

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Meta Threatens to Shut Down Facebook and Instagram in Nigeria Amid $290M Fines

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What’s Happening? Meta, the parent company of Facebook and Instagram, has warned it could shut down both platforms in Nigeria as it faces mounting regulatory pressure and close to$290 million in fines from three government agencies. The company says Nigeria’s requirements for data protection and compliance are excessive and could make continued operations untenable. Breakdown

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CBN Approves Open Banking Rollout in Nigeria, Starting August 2025

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What’s Happening? Nigeria’s Central Bank (CBN) has officially approved the nationwide rollout of open banking, with banks and regulated financial institutions required to begin secure data sharing by August 2025. This move positions Nigeria as the first country in Africa to operationalize open banking, four years after the initial regulatory framework was introduced With this

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CBEX crackdown: Promoting ponzi schemes could land influencers in jail -SEC warns

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The Securities Exchange Commission (SEC) has issued a stern warning to celebrities, influencers, and bloggers who promote unregistered investment schemes, stating they could face up to 10 years imprisonment under the newly enacted Investment and Securities Act (ISA) 2025. Crackdown Following CBEX Scandal This warning comes in the wake of the CBEX Ponzi scheme collapse

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