Banking
Bankily Revolutionises Digital Banking in Mauritania
By Modupe Gbadeyanka
It is now an open secret that the introduction of a state-of-the-art mobile banking service called Bankily in Mauritania has revolutionised digital banking in the country.
The service was launched in Mauritania earlier this year by one of the leading banks in the country, Banque Populaire de Mauritanie (BPM).
Since it became operational in Mauritania, the service, powered by Comviva’s mobiquity® Banking Suite, has received a positive response from consumers
With banking penetration around 30 per cent, Bankily is helping to modernize banking and payments in Mauritania and encouraging financial inclusion in the country.
The platform brings a digital revolution in the banking industry of Mauritania by enabling people to open and manage a bank account, transfer money and make payments using mobile phones. The service is accessible using all mobile phones, smartphone or basic, via the Bankily mobile app or USSD code *888# for Mattel subscribers.
Consumers can open a bank account remotely by downloading the Bankily app from Google Play Store or Apple App Store or by dialling the USSD code and registering using the 10 digits national identification number (NNI) available on the national identity card or residence permit.
Opening the Bankily account is free and it has no account maintenance fee as well. Bankily users can deposit money into and withdraw money from Bankily account through Bankily agents, BPM Bank branches and BPM ATM spread across Mauritania.
With Bankily, users can easily and instantly do a host of financial transactions digitally including transferring money, paying electricity and water bills, buying phone credit, paying merchant, crowd-funding (mobile tontine), ordering a cheque book and bank card, checking account balance, and generating an account statement.
Bankily is an inclusive service. Bankily users can not only transfer money to other Bankily users, BPM bank accounts and other bank accounts in Mauritania, but they can also send money to non-Bankily unbanked consumers using the recipient’s mobile number. Bankily offers diverse ways to make money transfer – using recipient’s mobile number, or selecting recipient from a Facebook contact list, or via contactless payments using NFC and QR Code.
The recipients receive a notification or message with a transaction code. Non-Bankily users can withdraw the money transfer in cash using the transaction code at Bankily agents, BPM bank branches or BPM ATMs.
Bankily has been designed with complete focus on customers. For example, after the first electricity and water bill payment, users are automatically notified about their next invoice.
In case of financial emergency, users can request money from their family and friends and instantly receive money once approved by the sender.
To enable wider service access, BPM has created extensive Bankily agent network aimed at facilitating last-mile transactions such as deposits and withdrawals.
Moreover, to boost digital payments at merchants via Bankily, BPM has registered multiple merchants from diverse categories such as supermarkets, grocery stores, pharmacies, fuel stations, travel agencies, hospitals, schools and restaurants. Payments at merchants can be made by scanning the QR Code or entering the merchant code on the mobile phone.
Elaborating on Bankily, Mohamed M’Rabih Rabou, Chief, Digital Banking Services at Banque Populaire de Mauritanie said “Through Bankily, BPM aims to extend financial inclusion and banking penetration in Mauritania.
“The product aims to make the opening of a bank account accessible to all Mauritanian citizens regardless of their geographic location and purchasing power. This mobile banking service fully supports the measures undertaken by the Central Bank of Mauritania to modernization and digitize the means of payments in the country. We are happy to partner with Comviva for offering Bankily service and meet the financial aspirations of our customers.”
Srinivas Nidugondi, Executive Vice President and Chief Operating Officer, Mobile Financial Solutions, Comviva said “Digital technology is transforming the banking industry and Comviva is enabling this transformation for banks and financial institutions globally. In Mauritania, we are carrying forward this digital revolution with BPM through the Bankily service, delivering quick, convenient and secure digital banking and payment services to Mauritanians.”
Banking
Proxy Share Acquisition: Nothing to Worry About—LivingTrust Mortgage Bank Assures Shareholders
By Aduragbemi Omiyale
The board of LivingTrust Mortgage Bank Plc has assured the investing public, particularly its shareholders, that its operations are not being affected by reports of an alleged proxy share acquisition surrounding the organisation.
It was claimed that an investor attempted to take over the control of the real estate lender with funds alleged to have been from questionable sources.
In a clarification to the investing public through the Nigerian Exchange (NGX) Limited on Tuesday, April 7, 2026, the company said it cannot confirm if security operatives investigating the claims have submitted their report to the Central Bank of Nigeria (CBN).
However, it assured that, “Our bank is stable and that in the event of any change in ownership, we will file the necessary formal notifications and publish detailed announcements.”
In the notice today, LivingTrust Mortgage Bank narrated that, “As a company listed on the Growth Board of NGX, there are regular movements on the bank’s shareholder register.
“The bank’s monitoring of material movements showed an acquisition of 2.24 per cent of its shareholding by Apel Asset Ltd-Nominee, as per its register of June 25, 2025, as obtained from our registrar. However, one month later, in July 2025, the register obtained from the bank’s registrar showed the same shares to be listed in favour of Deril Academy Limited. We are further aware that in July 2025, Deril Academy Limited teamed up with some other shareholders in a takeover attempt via a matter filed in the Federal High Court, Lagos. The attempt failed, and the matter has now been withdrawn.
“Please note that we do not reveal the veil of corporations of juridical entities investing in the shares of the bank, below the level considered statutorily significant.
“While the CBN assesses the source of funds invested in financial institutions, persons purchasing shares of less than 5 per cent of total shareholdings in the open market are not required to be reported to the CBN.”
Business Post reports that the majority shareholders of LivingTrust Mortgage Bank, formerly Omoluabi Mortgage Bank, are Cititrust Holdings Plc and the Osun State Government.
By Adedapo Adesanya
Nigeria’s Bank Verification Number (BVN) registry surged to 68.6 million in the first three months of 2026 from 67.8 million in the last quarter of 2025, reflecting continued uptake of the unique identity platform for bank customers amid new regulatory directives to strengthen the Nigerian financial landscape further.
Data released by the Nigeria Inter-Bank Settlement System (NIBSS) showed that the database expanded by 754,128 in the first quarter of the year.
Last year, the sector recorded 4.3 million new registrations, largely driven by the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to register remotely, thereby boosting cross-border financial inclusion.
The data for fresh enrolments in 2026 showed a slowing rate of registrations, with fewer than one million recorded in the first three months. The total number of active bank accounts in Nigeria stood at over 320 million as of March 2025, highlighting a gap between BVN coverage and the broader banking population. While a single BVN can be linked to multiple accounts, unlinked accounts remain a challenge for financial oversight.
Last month, the Central Bank of Nigeria (CBN) introduced a revised BVN regulatory framework to strengthen identity verification and fraud prevention. Among the new provisions, only individuals aged 18 and above are eligible for BVN enrolment, and customers are now permitted to update the phone number linked to their BVN only once.
The apex bank also directed financial institutions to maintain a temporary watch list of BVNs associated with suspected fraudulent transactions. Affected BVNs remain on the list for up to 24 hours, during which owners are contacted for clarification before further action is taken.
According to the CBN, the measures are designed to tighten fraud monitoring, protect transaction integrity, and enhance identity management across Nigeria’s banking system.
By Modupe Gbadeyanka
One tune that is on the lips of young and energetic Nigerians is the new ALAT: The Evolution jingle.
The melodious clink was designed to capture the energy of a smarter and more seamless banking experience. It is bright, catchy, and full of life.
The lender said the ALAT: The Evolution jingle is more than just music, as it represents a clear statement of intent. It signals a shift towards banking that feels natural, responsive, and in tune with the user.
As customers update their app and explore ALAT: The Evolution, the jingle serves as a reminder that a better, smoother way to bank is already here. Wema Bank is not just evolving its technology; it is shaping how banking feels.
It was stated that the tune was introduced to mark the next phase of the financial institution’s digital banking journey.
Everyday banking can often feel routine or even stressful, with multiple steps and delays slowing things down. The ALAT: The Evolution jingle reimagines that experience with a lively and confident tone that mirrors the app’s capabilities.
From voice banking with SAW to Tap and Pay and bank uptime prediction, each feature is echoed in the rhythm and flow of the sound. It brings to life the speed, convenience, and reliability that define this new phase of ALAT: The Evolution.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn