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Onafriq, Circle Enable Remittances, Cross-border Payments with USDC

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Onafriq Circle USDC

By Modupe Gbadeyanka

A move has been taken to allow cross-border payments and remittances through a stablecoin, USDC.

This is a product of collaboration between Africa’s largest payments gateway, Onafriq, and a leader in the stablecoin market and issuer of the popular USDC, Circle.

The partnership leverages stablecoins and blockchain infrastructure to boost Onafriq’s payment network, positioning it at the forefront of the digital payment’s revolution for real-world financial applications.

This collaboration is a major step toward a more inclusive and self-reliant pan-African financial system. It signals a new phase in the modernisation of African payment rails – one where blockchain technology is applied responsibly, in lockstep with regulators and financial institutions, to build a faster, more efficient, and economically empowering future for the continent.

“Our partnership with Circle is an important milestone, reinforcing Onafriq’s commitment to harnessing technology to remove complexity from cross-border payments.

“By integrating USDC, we aim to simplify financial transactions for institutions and individuals, reduce costs, and strengthen trust.

“This collaboration underscores our vision to democratise access to payments and drive financial inclusion across the globe. We’re not just envisioning the future of payments – we’re actively building it,” the chief executive of Onafriq, Mr Dare Okoudjou, said.

On her part, the Vice President for the Middle East and Africa at Circle, Ms Miriam Kiwan, said, “The emerging markets that Onafriq serves hold tremendous potential for digital asset innovation, particularly in the adoption of stablecoins for cross-border payments.

“Our partnership with Onafriq aligns perfectly with Circle’s mission to promote financial inclusion and improve efficiency in areas where traditional banking has often been costly and inaccessible.

“Together, we aim to transform how money moves across borders, offering secure and transparent digital payment rails that enhance economic empowerment and connectivity.”

Currently, over 80 per cent of intra-African payments are routed through correspondent banks outside the continent and settled in foreign currencies such as the US dollar or Euro.

This results in a staggering $5 billion in transaction fees annually and undermines economic integration efforts.

Onafriq and Circle are working together to change this paradigm by piloting the use of USDC-powered settlement solutions into Onafriq’s network, which connects over 500 wallets and 200 million bank accounts in more than 40 African markets.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

Banking

Jaiz Bank Changes Brand Identity to Reflect Vision for Future

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Jaiz Bank new logo

By Aduragbemi Omiyale

Pioneer non-interest financial institution in Nigeria, Jaiz Bank Plc, has announced a change to its brand identity, adopting new colours and logo to reflect its vision for the future.

In a statement signed by its Company Secretary, Mr Mohammed Shehu, it was disclosed that the new colours are deep blue, yellow, and grey.

In the statement, Jaiz Bank noted that, “The rebranding reflects our renewed commitment to empowering individuals, businesses, and communities with smarter financial solutions.

The Islamic lender, which said it’s committed to innovation, trust, and customer-centric banking, said, “The new brand represents more than just a colour and logo change; it is a reflection of the bank’s evolution and aspirations building a future-ready bank that is agile, inclusive, and deeply connected to the needs of our customers.”

“The new colours and logo represent Trust, Stability, Professionalism, Energy, Optimism, Visibility, Balance, and Sophistication,” it emphasised.

While “inviting stakeholders, partners, and customers to join us in celebrating this exciting new chapter, Jaiz Bank noted that rebranding became effective today, Tuesday, August 19, 2025.”

It described the “strategic transformation” as a “significant milestone in the bank’s journey to better serve its customers, embrace digital innovation, and expand its footprint in the financial services industry.”

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Banking

Access Bank Secures Certification for Privacy Information Management

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Access Bank Access Tower

By Modupe Gbadeyanka

For its consistent commitment to the highest levels of data privacy, security, and compliance, Access Bank Plc has been awarded the ISO/IEC 27701:2019 Certification for Privacy Information Management Systems.

The scope of the certification encompasses the management, processing, and protection of Personally Identifiable Information (PII) related to customers, employees, and third parties across the entire organisation.

It covers all physical and digital assets, processes, and information systems engaged in the collection, storage, processing, sharing, and disposal of PII throughout the bank.

The Statement of Applicability, version 15.0, dated March 27, 2025, demonstrates Access Bank’s role as both a PII Controller and a PII Processor, ensuring a robust framework for safeguarding sensitive information at every stage of its lifecycle.

The certification is referenced under ISMS Certificate, No. IS 583140 and affirms that the lender operates a Privacy Information Management System (PIMS), which fully complies with the rigorous requirements of ISO/IEC 27701:2019.

It reflects the bank’s proactive approach to privacy management, its investment in state-of-the-art security infrastructure, and its commitment to building trust with stakeholders and the broader community.

“Achieving the ISO/IEC 27701:2019 certification is a testament to Access Bank’s proactive approach to information security, Data Protection and Privacy, which reflects our commitment to safeguarding the trust our customers place in us, and our culture of continuous improvement.

“It demonstrates our dedication to adopting global best practices and reinforces our position as a leader in privacy information management across the financial services sector.” The Chief Information Security Officer/Data Protection Officer of Access Bank, Favour Femi-Oyewole, said.

Also, the Executive Director for IT and Digitisation at Access Holdings Plc, Lanre Bamisebi, said, “Securing the ISO/IEC 27701:2019 certification marks a pivotal milestone in Access Bank’s journey to embed privacy and data protection at the heart of our digital strategy. It also underscores the strategic investments we continue to make in digital innovation.

“This achievement reflects our unwavering commitment to building resilient systems that not only meet global standards but also anticipate the evolving expectations of our customers and regulators. It is the result of deliberate cross-functional collaboration and a forward-thinking approach to governance and trust.”

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Banking

Stanbic IBTC Bank Reaffirms Commitment to Inclusive Growth

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Stanbic IBTC Bank Home Loan Summit

By Modupe Gbadeyanka

Stanbic IBTC Bank has reiterated its commitment to inclusive growth, especially by providing support to female business owners because of their vital role in Nigeria’s economy.

The bank in a statement said it created the Blue Blossom Account in recognition of the positive impact of women entrepreneurs in society, as they drive innovation, create jobs, and build resilient businesses.

It stressed that focusing on women-led businesses helps to build a more inclusive and vibrant economy. Supporting women is not just the right thing to do—it’s a smart investment in Nigeria’s future, the lender said.

Stanbic IBTC Bank noted that the Blue Blossom Account was designed to help women overcome common financing challenges, as it provides easier access to business finance in line with the Central Bank of Nigeria’s Sustainable Banking Principles.

Women business owners enjoy zero current account maintenance (CAM) fees, concessionary loan rates, and access to business clinic sessions. These benefits make the Blue Blossom Account more than just a product—it’s a practical tool for growth.

Stanbic IBTC Bank said it also offers lending solutions like SME Lite and SME EZ Cash. These options help women-led businesses secure working capital, fund expansion, or invest in new opportunities. With flexible terms and accessible financing, the bank is assisting more women grow their businesses.

Support goes beyond finance. Through its SME Collab customer value proposition, the bank offers training and curates events to help women manage their businesses and connect with other entrepreneurs.

A key highlight is the Bloom Weekend, an empowerment event that brings together thousands of women entrepreneurs, professionals, and leaders. The event features masterclasses, financial advisory, and a vibrant trade fair where women showcase their businesses. It also provides an avenue for networking and having fun.

Digital tools also play a role. With POS terminals, the Enterprise Online internet banking platform, and the SME Mobile App, women entrepreneurs can manage payments and cash flow more efficiently. These solutions make it easier to run a business and reach more customers.

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