Banking
Quickteller Paypoint Engages Agents, Promises Support
By Modupe Gbadeyanka
Quickteller Paypoint has said it is co-funding relief programmes to provide personal protection equipment and wares for Quickteller Paypoint Agents across the country.
At a virtual forum held recently, the Divisional CEO of Interswitch Financial Inclusion Services (IFIS), Ms Titilola Shogaolu, explained that this move is to ensure that the agents are in compliance with COVID-19 expert advisory, while rendering services to the public.
Ms Shogaolu further stated that the organisation was also adopting to new channels of communication with our agents to educate them.
She emphasised the relevance of social distancing at a time like this, as well as the importance of cash management, advising the agents to take advantage of the fact that some bank branches may be possibly closed, to diversify their services by having an excellent product mix and exploring the introduction of cash deposit machines.
During the forum organised for the agents under the auspices of Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), Quickteller Paypoint assured of continued support during the ongoing global COVID-19 pandemic.
Expressing her profound gratitude to AMMBAN, Ms Shogaolu commended the association for putting the forum together at a time like this, when the COVID-19 pandemic has disrupted many businesses across the globe.
She reiterated that these are unprecedented times, as the entire world is faced by uncertainties caused by the disease outbreak and as such there is the need to sensitize agents on the possible impact of the pandemic on our services, and the necessary measures to deal with it.
The CEO highlighted the need for smart solutions that expediate digital transactions and processes, adding that, with the lock-down situation in the country, things will no longer be business as usual, hence, the need to constantly innovate and evolve, to meet the changing needs of the ecosystem.
“Quickteller Paypoint is co-funding relief programmes to provide personal protection equipment and wares for Quickteller Paypoint agents, to ensure that they are in compliance with COVID-19 expert advisory, while they render services to the public. We are also adopting to new channels of communication with our Agents to educate them,” she said.
The forum, with the theme The impact of COVID-19 on the Digital Financial Services (DFS) ecosystem in Nigeria, was an initiative of AMMBAN.
The group facilitated a discussion session between Mobile Money Service Providers, Bank Agents and the general public, on precautionary measures to take as essential service providers during the ongoing pandemic as well as trends that are likely to continue after it is defeated.
Speakers at the forum, including Professor Olayinka David West, Information System Specialist and Academic Director at Lagos Business School and Jay Alabra, Co-Founder PagaTech Limited, all unanimously opined that the COVID-19 pandemic has not only changed the world but has also transformed the way transactions are carried out.
In their votes of thanks, Victor Olojo, National President, AMMBAN; Yusuf Adeyemo, National Programme Director and Olawale Tiamiyu, applauded all three speakers for taking time out to join in on the forum to address these pertinent issues.
Interswitch Financial Inclusion Services is an interconnect point and infrastructure for integrating and delivering electronic payment services to the unbanked, under-banked and banked.
The organisation works with financial service providers, merchants, billers, and other organizations that aim to increase their efficiency and outreach, through its network of human service interfaces for secure financial transactions nationwide.
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.
