By Modupe Gbadeyanka

CapitalSage Vantage, the focused holding entity for CapitalSage Holdings’ cross-border payments and digital-asset wealth management businesses, has acquired Chi Technologies Incorporated (Chimoney), subject to customary closing conditions, including applicable regulatory approvals.

This comes a few weeks after the founder of Chimoney, Mr Uchi Nick Uchibeke, announced that the Toronto-headquartered payments infrastructure provider was winding down.

The acquisition of the company will enable CapitalSage Vantage to expand its international payments infrastructure, strengthen its regulatory footprint and enhance its ability to support cross-border financial services for consumers, businesses and developers operating across multiple markets.

CapitalSage Vantage has the ambition to build one of the most globally connected African-rooted financial ecosystems, bringing together payments infrastructure, remittance capabilities, digital wealth platforms and financial connectivity across Africa, North America, Europe and the Middle East. This transaction will accelerate hitting this goal.

Chimoney’s platform powers multi-currency wallets, global payouts, developer APIs and digital identity capabilities. Following completion of the transaction, Chimoney will continue to operate and grow within the CapitalSage Vantage ecosystem, with existing customers, developers and partners continuing to access its services.

“Chimoney is continuing its journey with greater scale and institutional backing. The technology, team, products and customer relationships that made Chimoney a trusted platform remain firmly in place. What changes is our ability to accelerate growth, expand into new markets and create greater value through the broader CapitalSage Vantage ecosystem,” Mr Uchibeke stated.

“This acquisition creates the foundation for a new generation of financial services platforms designed to serve Africans globally, connecting diaspora users with families, businesses and opportunities across the continent through a more integrated financial ecosystem,” the chief executive of CapitalSage Vantage, Mr Abiola Bawuah, commented.

CapitalSage Vantage’s growing portfolio includes international payments, remittance and digital wealth management businesses, with operations and strategic relationships spanning Canada, the United States, the United Kingdom, the United Arab Emirates and multiple African markets.

The transaction is expected to accelerate innovation across cross-border payments, embedded finance, business payments, digital commerce and financial infrastructure, while reinforcing Africa’s growing role in shaping globally relevant financial technology.

By Modupe Gbadeyanka

Polaris Bank Limited, on June 9, 2026, engaged some students and teachers in Katsina State on money management strategies as part of its ongoing commitment to youth empowerment, financial inclusion, and building a financially responsible generation. It is also part of the activities to commemorate Global Money Week (GMW).

At an impactful Financial Literacy Day session at Community Day Secondary School, Tsaski Yan’albasa, in Charanchi Local Government Area of Katsina State, participants were informed how the decisions they make with money today, no matter how small, can shape their future.

The lender stressed that learning how to save, spend wisely and avoid negative financial pressure is a major step toward becoming responsible and independent adults.

About 90 students and 10 teachers were provided practical insights into savings, budgeting, responsible spending, banking essentials, financial goal-setting, peer influence, and informed decision-making from an early age.

“At Polaris Bank, we believe financial literacy is one of the most important foundations for building a responsible and economically empowered generation. When young people understand the value of savings, budgeting and responsible financial choices early in life, they are better positioned to manage opportunities, avoid poor money decisions and contribute meaningfully to the economy,” the chief executive of Polaris Bank, Mr Kayode Lawal, stated.

He added that the bank’s involvement in Global Money Week underscores its long-term dedication to financial inclusion, youth development, and community impact.

“For us, this is not just about teaching students how to save money. It is about helping them understand the relationship between discipline, planning, financial responsibility and future success. We will continue to support platforms that take financial education closer to young people, especially in communities where early exposure can make a lasting difference,” he added.

At a session anchored by Mr Patrick Sule, there were focused discussions on banking essentials and managing peer influence, highlighting how banks help individuals protect, manage, and grow their money, while encouraging young people to make independent and responsible financial choices amid lifestyle pressures.

Another segment addressed financial responsibility and legitimate ways young people can earn and manage money, stressing that building strong financial habits early significantly supports their personal and educational goals.

To connect theory with practice, the session featured an introduction to the Polaris Young Achievers account, outlining its benefits for fostering early savings habits, along with account-opening requirements and suitable product options.

The programme concluded with a lively question-and-answer (Q&A) segment, where students showed keen interest, followed by the distribution of branded gift items to reinforce the learning experience.

Samaila Umar Sanda, Principal of Community Day Secondary School, praised the bank’s practical and relatable approach, saying, “Programmes like this help students connect classroom learning with real-life financial decisions.

“By engaging them early, Polaris Bank is helping to build a generation that understands money, values savings and can make better economic choices. We are grateful to Polaris Bank for bringing this important programme to our school. The lessons shared today are practical and timely. Our students have learnt that money management starts with discipline, planning and the right attitude.”

By Aduragbemi Omiyale

The artificial intelligence (AI)-powered credit platform designed by VeendHQ, Vida AI, has been used to recoup about N69 million from a N172.5 million portfolio of loans that were more than 90 days overdue.

This feat was achieved through the platform in a pilot that highlights the growing role of technology in loan recovery and portfolio management.

VeendHQ disclosed that the pilot delivered a 40 per cent recovery rate on the overdue loan portfolio, boasting that this significantly outperformed traditional recovery benchmarks, where a 5 per cent recovery rate on a similar loan book would amount to about N8.6 million.

This achievement comes at a time when lenders are under increasing pressure to improve recovery outcomes while managing the cost, reputational risk, and operational burden associated with overdue loans.

For many credit providers, the challenge is no longer only how quickly loans can be approved, but how effectively repayment can be monitored and delinquent loans can be recovered after disbursement.

VeendHQ said the pilot demonstrates how Vida AI can support lenders beyond credit assessment, extending into repayment monitoring, collections, and recovery.

“Credit access is only one side of lending. The bigger challenge for many lenders is what happens after disbursement.

“Vida AI helps lenders make smarter decisions across the credit lifecycle, from approval to repayment and recovery,” the chief executive of VeendHQ, Mr Olufemi Olanipekun, stated.

VeendHQ said Vida AI’s recovery workflow enables lenders to upload overdue loan records, verify borrower information, assess repayment capacity, and trigger automated recovery actions. This gives lenders better visibility after disbursement and allows recovery teams to prioritise overdue portfolios more effectively.

“If lenders cannot recover efficiently, they become more conservative with lending. That affects consumers, small businesses, and the wider credit market. Better recovery infrastructure gives lenders more confidence to lend, manage risk, and keep credit flowing,” Mr Olanipekun added.

VeendHQ, a Nigerian fintech company building digital credit infrastructure, developed Vida AI as an AI -powered platform for lenders, merchants, and financial institutions. The platform supports credit assessment, identity verification, repayment collections, and loan management workflows.

With the recovery pilot, the company is positioning Vida AI beyond loan origination, as a tool for lenders seeking to improve repayment performance and manage overdue portfolios more efficiently.