Banking
Wema Bank, Etisalat Launch WemaEasySavers Account For Nigerian Youth
By Dipo Olowookere
One of Nigeria’s foremost financial institutions, Wema Bank Plc, has partnered with Etisalat Nigeria to introduce the WemaEasySavers, a Tier-1 savings account aimed at ensuring financial inclusion for more Nigerians, especially the youth.
The newly launched WemaEasySavers is an easy to open and use account designed to enable under-banked and unbanked Nigerian youth to achieve their financial goals while operating a regular bank account through their mobile phones.
This partnership will enable Wema Bank’s new drive to expand its presence in the youth market and also forms a strong part of Etisalat’s commitment towards driving the achievement of the Federal Government’s financial inclusion goal.
The bank, which recently launched its USSD banking code *945#, is seeking to leverage the market-wide acceptance of the product and Etisalat’s strong appeal in the youth market to onboard new customers using a unique code *945*10#.
Speaking about the partnership, Director, Digital Business, Etisalat Nigeria, Mrs Adia Sowho, said the partnership was significant for the telco as a youth-friendly network.
“We are delighted at this partnership with Wema Bank as it provides Etisalat another platform to enable Mobile Financial Services that will empower the youth segment.
“Etisalat is passionate about the development of Nigerian youth and we continuously seek ways to add value to their lives, and Wema Bank also shares this same vision,” she said.
Head of Retail and SME Banking at Wema Bank, Mr Dotun Ifebogun welcomed the partnership as a significant milestone for the bank.
“At Wema Bank, we have a renewed focus on the youth market because we know how important the youth are to the growth and expansion of the Wema brand. That is why we launched the WemaEasySavers account in partnership with Etisalat,” he said.
Mr Ifebogun explained that any Etisalat subscriber can open the new WemaEasySavers account anywhere, anytime and on any type of phone, including feature phones, just by dialing *945*10#.
Accounts opened via *945*10# can be used instantly for transactions of up to N30,000 daily. However, it can be upgraded any time to other account types that give higher transaction limits. The WemaEasySavers account is the easiest account to open and operate anywhere in the country.
Wema Bank prides itself as having a robust Information Technology infrastructure while Etisalat Nigeria has been recognised as one of the best networks in the country and with these advantages, the partnership is expected to offer customers the easiest, yet effective way to bank.
Below are short codes on *945#
Short codes on *945#
Self help short codes
| Action | Short code | |
| 1 | Balance Enquiry(check balance) | *945*0# |
| 2 | Link BVN | *945*BVN# |
| 3 | Self-Recharge | *945*amount# |
| 4 | Buy Airtime | *945*phone Number*amount# |
| 5 | Change PIN | *945*00# |
| 6 | Get Account Number | *945*000# |
| 7 | Change account number | *945*2*oldaccountnumber*newaccountnumber# |
| 8 | Cash-on-the-Go(cardless withdrawal) | *945*8*amount# |
| 9 | Card Control(to prevent Card usage on platforms
(POS,ATM,Web countries) |
*945*11*last four digits of card# |
Bill Payment Short Codes
| Action | Shortcode | |
| 10 | Remita Payment | *945*9*RRR# |
| 11 | DSTV Subscription Payments | *945*16*smartcardnumber*amount# |
| 12 | GoTV Subscription Payments | *945*17*smartcardnumber*amount# |
| 13 | Startimes Payments | *945*18*smartcardnumber*amount# |
| 14 | EKO AND IKEJA DISCO | *945*19*meternumber*amount# |
| 15 | Smile Subscription Payments | *945*20*idnumber*amount# |
| 16 | Swift4GBroadband subscriptionPayments | *945*21*idnumber*amount# |
| 17 | Merchant Payments | *945*22*MERCHANTCODE*amount# |
Funds transfers Short codes
| Action | Shortcode | |
| 18 | Receive Western Union | *945*14*MTCN*amount# |
| 19 | Receive/ redeem money | *945*4*confirmationnumber*amount# |
| 20 | Send Money to phone/email | *945*5*amount# |
| 21 | Send Money | *945*accountnumber*amount# |
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.
