Banking
Tunisia Joins Nigeria, Others to Adopt PAPSS
By Adedapo Adesanya
Tunisia, through its central bank, Banque Centrale de Tunisie (BCT), has joined the Pan African Payment and Settlement System (PAPSS), making it the first North African country and 13th country to be boarded on the platform.
PAPSS, developed by the African Export-Import Bank (Afreximbank) in collaboration with the African Union (AU) and the African Continental Free Trade Area (AfCFTA) Secretariat, facilitates real-time settlement of intra-African trade and payments, in African currencies, across the continent.
The platform unites central banks from across Africa and seeks to address the existing challenges faced by African businesses and individuals in accessing efficient and cost-effective cross-border payment services.
Launched two years ago, PAPSS has steadily expanded its footprint in Africa, now establishing itself in four regions. This network includes six in the West African Monetary Zone (WAMZ) region (Nigeria, Ghana, Guinea, Gambia, Liberia, and Sierra Leone), three in East Africa (Kenya, Rwanda, and Djibouti), and three in Southern Africa (Zimbabwe, Zambia, and Malawi). Tunisia is now its first North African member.
It is part of efforts to strengthen its commitment to promoting seamless cross-border payment services and enhancing financial integration across the African continent.
Tunisia joins PAPSS under the commercial bank settlement model that was introduced last year at the Afreximbank Annual Meetings in Accra, Ghana.
By adopting this model, BCT will preserve its foreign currency reserves and promote the use of the Tunisian Dinar for cross-border payments with the rest of Africa. This strategic move will undoubtedly enhance the value of its currency shortly and significantly decrease reliance on foreign currencies.
With this development, the Tunisian commercial banks can now commence their onboarding process onto the PAPSS system.
According to a statement from Afreximbank, BCT’s membership in PAPSS signifies the bank’s determination to foster economic growth and development within the country and the African region.
“This value-adding collaboration will allow Tunisian businesses and citizens to benefit from enhanced payment efficiency, reduced transaction costs, and more opportunities to trade and pay with other African countries,” the statement added.
Commenting on this landmark achievement, Mr. Marouane El Abassi, Governor of Tunisia’s central bank said that the inclusion of BCT in the PAPSS system demonstrates the country’s commitment to regional integration within the African continent at an economic and financial level.
He further stated that this initiative supports the Government’s efforts, led by the Ministry of Commerce, to integrate Tunisia into the AfCFTA.
In 2022, BCT also joined the inter-Arab payment and settlement System (BUNA), in continuation of its commitment to the country’s strategic priorities.
Additionally, Mr El Abassi called upon banks and the Post Office to join this efficient and cost-effective alternative mechanism to better support Tunisian economic operators in their transactions across the African continent.
He emphasised the importance of opening new commercial opportunities with Africa and expanding Tunisia’s presence in this promising market.
The Chief Executive Officer of PAPSS Mr Mike Ogbalu III emphasised the significance of Banque Centrale de Tunisie joining PAPSS.
“We are thrilled to welcome Banque Centrale de Tunisie as our thirteenth member and first Central Bank in North Africa. Their inclusion highlights the growing recognition of PAPSS’s transformative role in simplifying cross-border payments on the continent.
“As PAPSS continues to expand its membership base, we are encouraged by the commitment of central banks in facilitating trade and investment flows within Africa. This represents another step towards realizing our collective aspirations for an integrated African market.”
Also commenting on the signing, Mrs Ben Rejeb, Minister of Trade & Export Development emphasized the significance of joining a platform that can facilitate integration into the formal sector, enhance intra-African exports, and reduce transaction costs and processing times.
“As the Pan-African Payment and Settlement System (PAPSS) continues to attract more countries, we are witnessing a growing belief among Africans in their abilities and potential to drive the development of the continent through their initiatives.
“At Afreximbank, we have unwavering confidence that PAPSS will revolutionize the payment landscape within Africa, ultimately benefiting our people. We extend our heartfelt gratitude to Banque Centrale de Tunisie for their trust and decision to join the PAPSS network, as it signifies a significant step towards achieving our shared goals,” added Mr George Elombi, Executive Vice President of Afreximbank.
Afreximbank anticipates that more central banks will join the platform throughout the current year.
By Dipo Olowookere
Tech enthusiasts interested in participating in the Take on Squad Hackathon, organised by Guaranty Trust Holding Company (GTCO) Plc, can now enter the contest via the official portal at https://squadco.com/hackathon.
The programme enters its third edition in 2026, and the theme for this year is Smart Systems: The Intelligent Economy, according to a statement issued by the organisers.
The hackathon brings together developers, designers and entrepreneurs across Nigeria in a collaborative environment to build practical solutions across key sectors, including financial services, healthcare, commerce and digital inclusion.
Participants are challenged to design and build intelligent, data-driven solutions that transform how communities engage with money.
It is part of the organisation’s commitment to fostering innovation, empowering talent, and supporting the development of technology-driven solutions that address real-world challenges across Africa.
“Today’s dynamic, digitally driven world demands continuous innovation, which is shaping how economies grow, how businesses scale, and how societies evolve.
“Through Take on Squad Hackathon, we are deliberately investing in the ideas and talent that will define the future.
“Our objective is not simply to encourage innovation, but to enable its translation into scalable solutions that deliver real and measurable impact.
“This reflects GTCO’s role as a financial services platform that connects capital, capability, and creativity to drive sustainable progress,” the Managing Director of HabariPay, Ms Eduofon Japhet, stated.
The social coding event remains a cornerstone of HabariPay’s mission to foster creativity and problem-solving among emerging tech talents. Competing teams will leverage Squad’s advanced APIs to create scalable digital tools that address everyday challenges faced by businesses and individuals.
Through initiatives such as this, GTCO continues to position itself at the intersection of finance, technology and enterprise, actively shaping the future of digital transformation in Africa.
By Dipo Olowookere
Banking services will not be interrupted throughout the Easter public holidays, from Friday, April 3, to Monday, April 6, 2026, for any reason, Ecobank Nigeria has assured its customers.
In a message over the weekend, the member of Africa’s leading pan-African banking group, Ecobank Transnational Incorporated, said customers would continue to enjoy quality service delivery during the period.
It noted that its secure and robust digital platforms would remain fully operational to support financial activities during the festive period.
All digital channels, including the Ecobank Mobile App, Ecobank Business App, USSD *326#, Ecobank Online, OmniPlus, Omnilite, EcobankPay, Ecobank Cards, ATMs, PoS terminals, and over 35,000 Ecobank Xpress Point agent locations nationwide, will remain accessible throughout the holiday, the financial institution further said, urging customers to conveniently conduct transactions at any time using this wide range of digital solutions.
Ecobank customers were encouraged to maximise the bank’s alternative channels for transfers, bill payments, airtime purchases, card services, and account management.
They were also advised to stay vigilant by shopping only on trusted websites; avoiding the sharing of PINs, passwords, and one-time passwords (OTPs); refraining from banking on public Wi-Fi networks; being cautious of urgent or emotionally charged messages; and regularly monitoring their account activity.
“Customers will continue to enjoy a full bouquet of services during the holiday, including local and international funds transfers, bill payments, airtime top-ups, merchant payments, balance enquiries, account statements, and cardless cash withdrawals via ATMs,” the Head of Products & Analytics, Consumer & Commercial Banking at Ecobank Nigeria, Mr Victor Yalokwu, stated.
“We understand that festive seasons come with increased financial activity, and our priority is to ensure our customers enjoy fast, reliable, and secure banking wherever they are.
“Our digital channels are designed to support uninterrupted transactions, and we have strengthened our systems to guarantee optimal performance throughout the Easter break,” he added.
Mr Yalokwu noted that, “Ecobank remains committed to providing innovative financial solutions and exceptional customer service. We wish all our customers and partners a peaceful and joyful Easter celebration.”
By Dipo Olowookere
Customers may have difficulty accessing the digital platform of Polaris Bank, known as VULTe, during the Easter holidays from Friday, April 3, to Monday, April 6, 2026.
This is because the financial institution is carrying out system maintenance on the platform in its effort to ensure users enjoy a better banking experience.
In a notice over the weekend, the lender said “access to VULTe may be limited,” but it provided an alternative, which is the PolarisXperience.
Polaris Bank, which expressed regret over “any inconvenience” this action may cause its customers, said the “scheduled system maintenance” would happen from 10 pm to 8 am daily, promising that normal service would return after the maintenance.
“In continuation of our commitment to delivering a seamless and improved banking experience, we will be conducting a scheduled system maintenance during the Easter holidays.
“During this period, access to VULTe may be limited. We have provided an alternative channel, PolarisXperience:
“Please go to our website to onboard or use it as an existing user. You can also use this link: (https://elogin.polarisbanklimited.com).
“We regret any inconvenience and appreciate your understanding. Normal service will resume after the maintenance,” parts of the notice seen by Business Post read.
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