Banking
Financial Inclusion: 9PSB CEO Proposes Digital Content Strategy
By Modupe Gbadeyanka
In order to deepen financial inclusion in Nigeria, there is a need for all stakeholders within the financial ecosystem, including content creators, to urgently work collectively to develop and implement a digital content strategy for the unbanked to move the financial inclusion needle and ultimately advance the economy, society and improve the life of every Nigerian.
This was the submission of the Chief Executive Officer of 9PSB, Ms Branka Mracajac, at the Tech Summit Ogun 2022, which was held at the Olusegun Obasanjo Presidential Library Abeokuta, Ogun State on Thursday, February 17, 2022.
During her presentation of a keynote address themed Content Creation and Financial Inclusion; The Future of Digital Banking, Ms Mracajac emphasized the need to pay close attention to content creation as an important factor in driving and accelerating financial inclusion in the country, stating that it was capable of enhancing the future of digital banking in the long-term.
According to her, while there are ongoing efforts to support the country’s financial inclusion drive, a lot more rest on formulating tailored strategies that address specific needs.
“Providing access to the banking agents and touchpoints, across the country is happening as we speak; payment service banks, microfinance banks, and FinTech companies are all working on this,” she said.
But will this be enough? Will the access to digital banks change the mindset of Nigerians in rural areas of the country and be enough to drive the transition from cash to a cashless society?” she questioned.
Proffering the way forward, Ms Mracajac stressed the need to provide financial literacy through content that speaks to an average Nigerian in unserved rural areas of the country, stating that financial inclusion is a process, not just a point in time and space that we want to reach.
She added that developing content that speaks only to the already banked and mirroring the digital financial habits of those who are fully included and heavily banked, will not help to keep the newly onboarded in the system long-term.
“While creating and delivering the content for financial inclusion, we need to have in mind the needs of its beneficiaries, the targeted end-users of the financial services who are currently underserved and the only sustainable way is that we join our forces and create the content – apps and services that will address the specific needs of a farmer in Benue, market women in Onitsha, the trader in Kano, the fisherman in Delta, and the woman selling ofada rice in Ogun State,” she stated.
Speaking further, Ms Mracajac noted that to drive the offline individuals and MSMEs from cash to cashless, from analogue to digital and from informal to formal, content creators need to focus on two major goals; one, to deliver relevant and on-point digital financial literacy content, educating people about the principles, ways, modules, and benefits of banking.
The second one, she stated, is needed for sustainable financial inclusion, delivery of digital banking services that are a reflection of the lifestyle of the currently unbanked and underserved population.
In his keynote address titled Disruptive Innovation: Production and Distribution of Creative Content, the Minister of Communications and Digital Economy, Mr Isa Ali Ibrahim Pantami, who was represented by the CEO of the Nigerian Communications Satellite Limited (NIGCOMSAT), Dr Abimbola Alale, remarked that the quality of creatives and start-ups that Nigeria has produced is a testament to the potential of the ecosystem, and as such the ministry will continue to support the tech and creative entrepreneurs to play their part in developing Nigeria’s digital economy.
The Tech Summit Ogun is an annual convergence of Tech disruptors, innovators, startups, organizations and technology enthusiasts in Ogun State, aimed at spurring technological innovation towards the digital transformation and technological advancement of Ogun State. This year, the summit attracted over 2000 participants, mainly the youths and start-ups.
By Aduragbemi Omiyale
A collaboration to enable fast money transfers into Nigeria has been entered into between Flutterwave and Xoom, PayPal’s international digital money transfer service.
The partnership allows Xoom transfers to be converted by Flutterwave and settled locally in Naira, enabling quick transfers directly into recipients’ bank accounts at Access Bank, UBA, Zenith Bank, First Bank, GTBank, and additional participating banks across Nigeria.
The deal also enables Xoom’s global network with Flutterwave’s local payout infrastructure, allowing users globally to send funds directly into Nigerian bank accounts with improved speed and efficiency.
Nigeria is the leading remittance recipient in Sub-Saharan Africa, receiving over $20 billion in personal remittances in 2024. Despite this volume, receiving international payments has historically remained complex due to FX constraints and settlement delays. This collaboration helps address those challenges in a market of more than 232 million people, where the ICT sector is projected to contribute 21 per cent of GDP by 2027.
By combining Xoom’s expansive reach with Flutterwave’s local compliance and banking partnerships, the two companies are providing a more accessible financial corridor for the continent.
Xoom, a PayPal service, is a fast and secure international digital money transfer service that enables consumers to send money, pay bills, and reload phones for friends and family in approximately 160 markets globally.
As part of PayPal’s global payments ecosystem, Xoom leverages advanced fraud protection, compliance capabilities, and a trusted global network to help millions of customers move money quickly and securely across borders.
“We’re excited to have been chosen by Xoom for their Nigeria expansion. Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This helps make it easy and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders,” the chief executive of Flutterwave, Mr Olugbenga GB Agboola, stated.
By Aduragbemi Omiyale
An initiative known as Nigeria Lightning Rounds, designed to expand funding opportunities for Nigerian startups and small businesses by connecting founders with local and international investors, has been launched by ProvidusUnity Bank, in partnership with US-based global venture firm and accelerator, gener8tor.
Scheduled to be held on July 15, 2026, Nigeria Lightning Rounds will feature carefully selected startups engaging with targeted investors who have expressed interest in supporting Nigerian innovation.
Participating founders will have the opportunity to pitch their businesses through focused 15-minute virtual sessions facilitated by gener8tor and ProvidusUnity Bank’s networks.
The program will focus on high-growth sectors including fintech, healthtech, manufacturing, sustainability, and AI, but welcomes SMEs from all industries, with intending participants urged to apply via https://www.gener8tor.com/lightning-rounds/nigeria.
“We recognise that access to capital remains one of the biggest challenges facing entrepreneurs in Nigeria. Through our partnership with gener8tor, we are creating a platform that connects promising Nigerian founders with investors who can provide the support required to scale their businesses,” the Head of Business Development at ProvidusUnity Bank, Mr Ernest Elue, stated.
“The partnership reinforces ProvidusUnity Bank’s commitment to strengthening Nigeria’s entrepreneurial ecosystem by supporting innovation, enabling access to opportunities, and creating pathways for businesses with high-growth potential,” he added.
Also commenting, the Director of Lightning Rounds at gener8tor, Ms Elizabeth Larios, said, “gener8tor is thrilled to partner with ProvidusUnity Bank to extend the Lightning Rounds model into Nigeria.
“This collaboration reflects our commitment to building equitable ecosystems and driving capital to the most promising and underrepresented entrepreneurs.”
Lightning Rounds are a signature initiative of gener8tor’s investment platform, which has facilitated thousands of investor-startup meetings globally. The format is optimised to eliminate friction, reduce bias in early-stage fundraising, and help founders secure capital from investors aligned with their mission and stage. gener8tor’s previous Lightning Rounds for Nigerian Founders in 2025 featured 18 participating Investors and led to 50 investment meetings facilitated.
By Modupe Gbadeyanka
The verification of the depositors of the 46 microfinance banks, whose operating licenses were revoked by the Central Bank of Nigeria (CBN) over a week ago, has commenced.
The exercise, aimed at refunding those whose funds were trapped in the small lenders, is being conducted by the Nigeria Deposit Insurance Corporation (NDIC).
In a statement on Thursday, the agency said its staff members have been positioned at the offices of the affected banks across the country to attend to depositors.
It was disclosed that depositors of the defunct banks, who had their Bank Verification Numbers (BVNs) linked to their accounts in the failed banks, will be paid through their alternative accounts in existing banks.
However, depositors whose BVNs were not linked to their accounts in the failed banks have been encouraged to visit the affected banks’ offices with proof of account ownership, a passport photograph, verifiable means of identification (Driver’s Licence, Permanent Voter’s Card, International Passport or National ID Card) and BVN.
NDIC also stated that depositors can alternatively file their claims online through its website: www.ndic.gov.ng, to complete the Pre-Verification Claims Form by clicking on the Search Bar, and typing Pre-Verification Claims Form; opening the Form and filling in their details. They can also do so by clicking the link: https://ndic.gov.ng/ndic-pre-verification-claims-form/ or by visiting any of the NDIC offices closest to them to file their claims.
For further enquiries, the corporation can be reached on any of the following lines: 09037273810, 09038197064, 08104220807, 09064657140.
