Banking
9PSB Set to Begin Operations After CBN Approval
By Adedapo Adesanya
Following the approval by the Central Bank of Nigeria (CBN), Nigeria’s lifestyle and payment service bank, 9PSB (Payment Service Bank), is set to commence operations in fostering financial inclusion drive in the Nigerian ecosystem.
According to a statement from the bank, this move will allow customers to overcome some constraints such as regular long queues in the banking halls, consistent network failure, stringent documentation to assess credit facilities, frequent transaction/dispensing error, delay in transaction completion and process among others.
Speaking on the vision of 9PSB’s entrant into the Nigerian financial sector, the CEO of 9mobile, Mr Alan Sinfield, stated that there’s a huge potential in the market, and 9PSB is strategically positioned to expand its operations into financial services.
“We are happy to be the first Payment Service Bank to provide all Nigerians with access to banking services and open up a digital world of possibilities to improve everyday lives.
“We know that this new development will further improve the country and the people going forward. In 2018, 9mobile partnered with Nigerian bank, UBA to roll out 9Pay, a mobile payment solution while also pushing for a fintech license. We are delighted that we have now secured final approval for a Payment Service Bank,” he said.
In his own reaction, the CFO of 9mobile, Mr Phillips Oki, stated that “the financial inclusion that 9PSB will provide will be an enabler to achieving unparalleled benefit in everyday transactions.
“The *990# allows Nigerians to perform all financial transactions including utility payment from the comfort of their phones and homes on any mobile network at no charge.
“With a large network of agents strategically located in both urban and rural communities, 9PSB is going to make sending and receiving money possible, easier, seamless, and less stressful for all Nigerians.
“9PSB is also available on mobile App and internet banking for ease of banking and simplicity. Over the coming weeks, 9PSB will unveil its products and services to Nigerians.”
9PSB has been touted to bring relief to all Nigerians. This is because Payment Service Banks facilitate sending remittances across the country from one user to another, bypassing the banks.
Furthermore, 9PSB will reach the people in the rural setting, and increase financial payment and inclusion in Nigeria.
In October 2012, the CBN introduced the National Financial Inclusion Strategy (NFIS) to provide Payment Service Banks across Nigeria with the aim of breaking the traditional barrier preventing financial inclusion and promoting low cost, secure and convenient financial services across the country.
By Aduragbemi Omiyale
A digital assets exchange, Zabira Technologies, has rebranded to reposition itself as The People’s Wallet and Africa’s trusted digital asset hub.
At a media event organised on Tuesday in Lagos to mark its sixth anniversary, the company said its adoption of a new brand identity underscores a renewed commitment to clarity, trust, and accessibility, aligning with the its mission to become Africa’s most reliable digital asset hub.
Zabira Technologies is one of the financial services providers in Nigeria established in 2019 as a simple wallet solution.
Since its inception the firm has evolved into comprehensive digital payments and asset exchange platform, enabling individuals and businesses to seamlessly acquire, store, swap, and grow their digital assets.
Guided by innovation and a user-first philosophy, Zabira empowers Africans to take control of their financial journey anytime, anywhere.
Whether stepping into crypto for the first time or seeking smarter, faster, and more reliable ways to transact, Zabira brings speed, security, and simplicity to every interaction.
“With this new identity, we are making crypto and digital payments more accessible for everyday Africans. Zabira is redefining how people interact with digital assets—offering everything from seamless crypto exchanges and competitive gift card trading to utility bill payments and cross-border transfers. We provide a one-stop platform for secure, efficient, and hassle-free transactions,” the Head of Marketing and Communications at Zabira, Ike Ekemah, stated.
The chief executive of the company, Isaac John, said, “Zabira is expanding its reach across crypto exchange, gift card trading, and bill payments, while staying anchored on our core values captured in the acronym S.P.A.R.K.—Security, where we ensure compliance and safety in every transaction; People, by putting users and our team at the center of everything; Agility, by constantly innovating to deliver fast and seamless solutions; Reliability, through consistent and dependable service; and Knowledge, which empowers us to lead with expertise in digital finance.
“Evolving into The People’s Wallet, Zabira now prioritizes safety, user experience, and financial empowerment. We are positioning ourselves as a reliable and inclusive financial companion for Africans.”
By Adedapo Adesanya
Access Holdings Plc has announced that Mr Roosevelt Ogbonna, a Non-Executive Director, has stepped down from the board after three and a half years of service.
The announcement was made in a disclosure filed on the Nigerian Exchange (NGX) Limited and signed by the Company Secretary, Mr Sunday Ekwochi.
In the statement, the financial institution explained that although Mr Ogbonna is retiring from its board, he will continue to serve as the chief executive of Access Bank Plc, the banking subsidiary of the organisation.
His resignation is aimed at ensuring compliance with the Corporate Governance Guidelines of the Central Bank of Nigeria (CBN) for Financial Holding Companies (2023), which stipulate that no more than nine directors can sit on the board of a financial holding company.
The board expressed its gratitude for his “outstanding and continued contributions to the Access Group.”
Mr Ogbonna was appointed to lead Access Bank in May 2022, after serving as Deputy Managing Director from 2017 and Executive Director from 2013. He joined Access Bank in 2002 from Guaranty Trust Bank (GTBank) and has built up more than two decades of experience in the banking industry.
Beyond his role as CEO, Mr Ogbonna serves on the boards of Access Bank’s subsidiaries in the UK and South Africa and represents the Bank on the boards of Africa Finance Corporation and CSCS Plc.
His background combines both professional and academic achievements. He is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA), an Honorary Member of the Chartered Institute of Bankers (HCIB), and a CFA charter holder.
As of August 2025, the Board of Access Holdings Plc consists of Mr Aigboje Aig-Imoukhuede (Chairman), Mr Bolaji Olaitan Agbede (Acting Group CEO), and Mr Lanre Bamisebi (Executive Director).
The independent non-executive directors are Mr Abubakar Aribidesi Jimoh, Mrs Fatimah Bintah Bello-Ismail, and Mrs Ibironke Adeyemi.
Other members include non-executive directors Mrs Ojinika Nkechinyelu Olaghere and Mr Olusegun Babalola Ogbonnewo.
By Aduragbemi Omiyale
Customers of Fidelity Bank Plc can now “spend up to $1,000 quarterly for international POS and online transactions,” the lender’s Divisional Head of eBanking, Ms Ifeoma Onibuje.
She was quoted as revealing this in a statement issued to announce the bank’s resumption of international transactions on its Naira debit cards.
Due to foreign exchange (FX) liquidity squeeze in the country, the Central Bank of Nigeria (CBN) earlier stopped financial institutions from allowing their local debit cards to be used by customers for offshore spending.
This restriction was removed this year after over two years of suspension, giving customers the freedom to make seamless payments abroad, online, and at ATMs outside the country.
“We are delighted to inform the public that Fidelity Naira Cards are now enabled for global use. This means that our travelling customers can now utilize their Naira Debit cards outside the country to shop, spend and withdraw internationally without hassles.”
“Consequently, our customers can now spend up to $1,000 quarterly for international POS and online transactions; and withdraw up to $500 quarterly on international ATMs,” Ms Onibuje stated.
The announcement offers Fidelity Bank customers another way to complete international transactions, in addition to the Bank’s existing foreign currency debit and credit cards. This further reinforces Fidelity Bank’s commitment to delivering solutions that fit seamlessly into customers’ lifestyles. With Fidelity Bank’s VISA and Mastercard Naira Debit Cards, Nigerians can now enjoy effortless global access.
Beyond payments, Fidelity VISA cardholders, one of the variants of the bank’s card offerings, also enjoy premium travel and lifestyle benefits ranging from airport lounge and spa access via the Visa Airport Companion App, to fast-track immigration lanes and 20% discounts on SIXT car rentals worldwide.
This move reflects the bank’s commitment to provide secure, convenient, and reliable banking services that empower customers in Nigeria and beyond. The bank has deliberately made the process of getting a Fideity Naira card seamless. Customers can easily apply for their Fidelity VISA or Mastercard Naira Debit card via the Fidelity Mobile App or simply visit the nearest Fidelity bank branch to request for one and they can start transacting globally with ease.
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