Banking
Full List of PSSPs, Others NIBSS Ordered Banks to Remove from Transfer List

By Dipo Olowookere
Some hours ago, news went viral that the Nigeria Inter-Bank Settlement System (NIBSS) Plc has directed Deposit Money Banks (DMBs) to take down all non-deposit financial institutions from their NIBSS Instant Payment (NIP) platform because they are not authorised to hold customers’ funds.
The circular, which was dated Tuesday, December 5, 2023, has generated mixed reactions as a few media platforms, excluding Business Post, listed some mobile money operators (MMOs) like Opay, PalmPay, and others are part of the financial technology (fintech) firms affected by the directive.
In the disclosure sighted by this newspaper, the NIBSS specifically said those not licensed to accept deposits are Super Agents, Switching Companies, and Payment Solution Service Providers (PSSPs).
A look at the website of the Central Bank of Nigeria (CBN) showed that 47 companies were issued licences by the CBN to operate as Super Agents, 75 firms were authorised by the apex bank to function as PSSPs, and 16 fintechs have the Switching and Processing licence.
Below is the full list, as obtained from the CBN, of the three categories of fintechs affected by the NIBSS directive;
SWITCHING & PROCESSING LICENCE CATEGORY
S/NO | LICENCEE |
---|---|
1. | Appzone Limited |
2. | Arca Payments Company Limited |
3. | Chamswitch Limited |
4. | Coralpay Technology Nigeria Limited |
5. | eTranzact International Limited |
6. | Flutterwave Technology Solutions Limited |
7. | Habaripay Limited |
8. | Hydrogen Payment Services Limited |
9. | Interswitch Limited |
10. | Network International |
11. | Paystack Payment Limited |
12. | Remita Payment Service Limited |
13. | Teamapt Limited |
14. | Terra Switching & Processing Company Limited |
15. | Unified Payment Services Limited |
16. | Xpress Payments Solution Limited |
i. PAYMENT SOLUTION SERVICE PROVIDER (PSSP) AUTHORISATION
S/NO | LICENCEE |
---|---|
1. | Afara Partners Limited |
2. | Angala Financial Technologies Limited |
3. | Appmart Integrated Limited |
4. | Appzone Limited |
5. | Artha Fintech Limited |
6. | Betastack Technology Limited |
7. | Bud Infrastructure Limited |
8. | Callphone Limited |
9. | Capricorn Digital Limited |
10. | CBI Technologies Ltd |
11. | Cellulant Nigeria Limited |
12. | Centric Gateway Limited |
13. | Ceviant Payments Nigeria Limited |
14. | Clane Company Nig. Ltd. |
15. | Cyberspace Limited |
16. | Demerge Nigeria Limited |
17. | Dot Financial Inclusion Technologies Limited |
18. | Easypay International Limited |
19. | Egole Pay Limited |
20. | Ercas Integrated Solutions Limited |
21. | E-Settlement Limited |
22. | Eyowo Integrated Payments Limited |
23. | Fincra Technologies Limited |
24. | Flutterwave Technology Solutions Limited |
25. | Fountain Payment Systems Solution |
26. | Gemspay Limited |
27. | Global Accelerex Limited |
28. | Gpay Instant Solution Limited |
29. | GTP Client Services Limited |
30. | Hellopay Africa Integrated Service Ltd. |
31 | ICAD Concord Limited |
32 | Infiniti Segments Limited |
33. | Irecharge Technology Innovations Limited |
34. | Irofit Technologies LimitedD |
35. | Itex Integrated Services Limited |
36. | Konetpay Nigeria Limited |
37. | Kora Payments |
38. | Leadremit Limited |
39. | Moneta Technology Ltd |
40. | Multigate Payment Limited |
41. | Netapps Technologies Limited |
42. | Netplusdotcom Nigeria Limited |
43. | Nomba Financial Services Limited (Formerly Cosmic Intelligence Lab Limited) |
44. | One Payment Limited |
45. | Onepipe.Io Services Ltd |
46. | Parkway Projects Limited |
47. | Payfixy Nigeria Limited (Formerly Innovate 1 Pay Limited) |
48. | Paylode Services Limited |
49. | Paysure Technologies Limited |
50. | Payu Payments Nigeria Limited |
51. | Pethahiah Rehoboth International Limited |
52. | Prophius Limited |
53. | Qrios Networks Limited |
54. | Redtech Limited |
55. | Resident Fintech Limited |
56. | Rexel Limited |
57. | Routepay Fintech Limited |
58. | Saanapay Corporate Investments Management Limited (SAANACORP) |
59. | Shago Payments Ltd |
60. | Simplify International Synergy Limited |
61. | Soft Alliance & Resources Limited |
62. | Spay Business Solutions Limited |
63. | Spout Payment Solutions |
64. | Stanbic Financial Services Limited |
65. | Swift Link-NZ Global Services Ltd. |
66. | Teinnovate Capital Limited |
67. | Unlimint Nigeria Ltd |
68. | Upperlink Limited |
69. | Vas2net Technologies Ltd |
70. | Venture Garden Nigeria Limited |
71. | Vestrapay Nigeria Limited |
72. | Voguepay Web Solution Limited |
73. | Waxed Mobile Nigeria Ltd |
74. | Waya Multilinks Technologies Limited |
75. | Woven Finance Limited |
SUPER-AGENT AUTHORISATION
S/NO | LICENCEE |
---|---|
1. | 3Line Card Management |
2. | 5554 Technologies Limited |
3. | Accelerex Networks Limited |
4. | Africa Mama Atm Limited |
5. | Africave Technologies Limited |
6. | Airtel Mobile Commerce Nigeria Limited (Airtel) |
7. | Allstream Information Technology Solutions Limited |
8. | Angala Financial Technologies Limited |
9. | Appmart Integrated Limited |
10. | ATN Wayya Limited |
11. | Betastack Technology Limited |
12. | C24 Limited |
13. | Callphone Limited |
14. | Capricorn Digital Limited |
15. | CBI Technologies Ltd |
16 | Cicoserve Payments Limited |
17. | Citiserve Limited |
18. | Clane Company Nig. Ltd. |
19. | Connectpoint Technology Solutions Limited. |
20. | Crowd Force Limited (Formerly Mobile Forms Limited). |
21. | Dot Financial Inclusion Technologies Limited. |
22. | Egole Pay Limited. |
23. | Errand P Limited. |
24. | E-Settlement Limited. |
25. | Fountain Payment Systems Solution. |
26. | Fucil Datatech Limited. |
27. | Gwills Payments Service Limited. |
28. | Infibranches Technology Limited. |
29. | Innovectives Limited. |
30. | Interswitch Financial Inclusion Services Limited. |
31. | Irofit Technologies Limited. |
32. | Itex Integrated Services Limited. |
33. | Kadick Integrated Limited. |
34. | Lukeport Nigeria Limited. |
35. | Microsystems Investment And Development Limited. |
36. | Moneymaster Limited. |
37. | Nigerian Postal Service (NIPOST) . |
38. | Nomba Financial Services Limited (Formerly Cosmic Intelligence Lab Limited) |
39. | Paycluster Technology Limited. |
40. | Paygo Limited. |
41. | Shago Payments Ltd. |
42. | Spout Payment Solutions. |
43. | Swift Link-Nz Global Services Ltd.. |
44. | Traction Payments Ltd.. |
45. | Vatebra Pay Limited.. |
46. | Waxed Mobile Nigeria Ltd.. |
47. | Y’ello Digital Financial Services.. |
Banking
Fidelity Bank ‘Lighting Young Minds’ With Solar-Powered School Bags

By Modupe Gbadeyanka
Fidelity Bank Plc under the leadership of Mrs Nneka Onyeali-Ikpe is doing everything possible to improve the human capacity index of Nigeria by investing in education.
Recently, the financial institution donated about 1,000 solar-powered school bags to pupils in public primary schools in Ogun State.
The gesture was through its Lighting Young Minds initiative developed to improve access to quality education across the country.
“At Fidelity Bank, we see education as not only a means of knowledge transfer, but as a transformative force—a bridge to opportunity,” Mrs Onyeali-Ikpe said at the unveiled of the programme in Abeokuta, the Ogun State capital, on Friday, July 4, 2025.
The initiative reflects the bank’s commitment to tackling systemic barriers to learning—particularly the challenge of limited electricity in underserved communities, and it specifically aligns with one of the lender’s core Corporate Social Responsibility (CSR) pillars of expanding access to quality education.
The bank executive explained that through the company’s SWEETA initiative, 1,000 solar-powered school bags are being donated to enable children to study safely at night, without the dangers associated with candles or kerosene lamps.
“Beyond helping them improve their academic performance,” she added, “we want to inspire young minds to see that innovation and resilience can light the path to a better future.”
The chief executive also highlighted Fidelity Bank’s broader investment in education, such as the SWEETA School Fees Support Initiative, which has disbursed over N8 billion in tuition support to eligible customers; the Read2Lead Writing Competition, which has impacted more than 3,000 students across Nigeria through prizes and grants; the Back-to-School Loans for parents; the Fidelity EduLoan which helps schools with infrastructure upgrades and asset acquisition; as well as the Green Energy Financing Program, which complements the solar-powered bag initiative by promoting sustainable energy use in education via solar energy.
The solar-powered bags—designated for schools across all 20 local government areas in Ogun State—were officially unveiled by Mrs Onyeali-Ikpe alongside the First Lady of Ogun State, Mrs Bamidele Abiodun.
The wife of Governor Dapo Abiodun praised the project, calling it a crucial and timely intervention in child development and foundational learning.
“This initiative directly enhances learning for children in communities with limited electricity. It’s a brilliant example of how simple, practical innovations can drive profound change—keeping children in school and helping them thrive,” she said.
She further noted its alignment with United Nations Sustainable Development Goal 4, which promotes inclusive and equitable quality education for all, and called on other private sector players to emulate Fidelity Bank’s leadership in social impact.
The Lighting Young Minds initiative is an extension of Fidelity Bank’s mission of empowering Nigeria’s future generations through inclusive, sustainable, and forward-thinking educational solutions. As the bank continues to bridge opportunity gaps, it remains steadfast in its pursuit of a brighter future for children across the country.
Banking
Zest Revolutionizes Payment Solutions for African Businesses

African enterprises are rapidly discovering that fragmented payment systems are a liability in an increasingly competitive marketplace. As e-commerce surges and mobile payment adoption rises across the continent, businesses are searching for unified solutions that streamline operations while enhancing customer experiences.
For businesses looking to turn their payment systems from an operational necessity into a strategic asset, one company offers a compelling path forward. With its sector-specific approach to payment orchestration, Zest, the fintech subsidiary of Stanbic IBTC Holdings, is positioning itself as a crucial partner for businesses seeking growth in Africa’s digital economy.
At its core, Zest offers something desperately needed in Africa’s diverse payment ecosystem: unification. Through sophisticated payment orchestration, their flagship platform, a payment gateway, brings multiple payment capabilities like cards, mobile money, bank transfers, and QR codes, into a single, comprehensive business dashboard.
This consolidation eliminates the headaches of managing separate systems while providing businesses with powerful tools: aggregator capabilities for multi-location collections, real-time reporting, instant settlements, reduced payment failures, and valuable customer insights that drive strategic decisions.
“Businesses today don’t just need to accept payments, they need to orchestrate experiences that are fast, seamless, and scalable,” explains Stanley Jacob, CEO of Zest.
Industry-Specific Solutions
Beyond the plug and play payment gateway, what truly sets Zest apart is its commitment to sector-led customization. Rather than offering one-size-fits-all solutions, the fintech delivers customizations of its platform to address industry-specific challenges.
One energy sector client now manages over 100 gas stations nationwide with real-time transaction monitoring against available inventory. Additionally, Zest powers the client’s card-based loyalty system and pre-funding capabilities—a comprehensive solution that addresses multiple business needs simultaneously.
In another example, a major ports industry player benefits from custom-fitted payment collection infrastructure designed specifically for its complex operational requirements.
Empowering businesses of all sizes
While large corporations benefit from Zest’s enterprise-level customizations, smaller businesses aren’t left behind. The platform offers multi-rail payment checkout systems and free customizable storefronts embedded in its business dashboard.
With some of the most competitive pricing across different payment rails; cards, account-based transactions, USSD, QR codes, Apple Pay, and Google Pay, Zest enables even small merchants to offer customers multiple payment options. The platform’s bank-agnostic nature allows merchants to receive settlements in any bank of their choice.
“For Africa’s SMEs and corporates, orchestrated payments are no longer a nice-to-have, they are survival infrastructure,” emphasizes Ifeoluwa Adekunle-Yusuf, VP of Products and Engineering at Zest.
With digital payments in Africa projected to exceed $40 billion in annual revenue by 2025 according to McKinsey, and mobile money penetration now reaching 46% across the continent, businesses need reliable payment partners who understand the unique challenges and opportunities of the African market.
Zest’s seamless architecture ensures that businesses of all types—from small retailers and educators to artisans and service providers—can deliver professional, reliable payment experiences that power sustainable growth.
As African businesses continue their digital transformation journey, payment orchestration platforms like Zest will play an increasingly vital role in determining which companies thrive in the digital economy and which get left behind.
Banking
CBN Issues IMTO Licence to Crown Agents Bank

By Modupe Gbadeyanka
An International Money Transfer Operator (IMTO) licence has been issued by the Central Bank of Nigeria (CBN) to Crown Agents Bank, a subsidiary of CAB Payments Holdings Plc.
This operating licence is part of the strategies to develop meaningful relationships with key central banks and regulators in important markets.
A statement from Crown Agents Bank said under the IMTO licence, it would expand its payment capabilities in Nigeria, including Diaspora remittances and other international inflows.
The company also said the authorisation to operate as an IMTO has placed it to offer more solutions to a wider range of clients, particularly non-bank financial institutions.
“We are delighted to have secured the International Money Transfer Operator licence from the Central Bank of Nigeria, following the work we have done to build our relationship as a trusted partner.
“It represents the continued momentum we are building at CAB to extend our offering to our clients, drive improved performance, resilience and sustainable growth,” the chief executive of CAB Payments, Neeraj Kapur, stated.
CAB Payments Holdings Plc, a UK-based firm, specialises in FX and cross-border payments for hard-to-reach markets.
Its strength of network and deep expertise means it can move money into and out of the world’s most complex financial markets.
Trusted by a global ecosystem of leading institutions across the public, private and development sectors, Crown Agents Bank’s strength lies in its network which connects its clients to underserved geographies, giving them access to 100+ currencies across 700+ currency pairs.
The delivery of fast, transparent and efficient transactions moves money where it’s needed. Crown Agents Bank’s network offers multiple transaction solutions, delivered via a single API, digital trading platforms, or through bespoke approaches developed by its specialist teams.
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