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The Future of Payments: Key Trends to Watch in 2025

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Luke Kyohere

By Luke Kyohere

The global payments landscape is undergoing a rapid transformation. New technologies coupled with the rising demand for seamless, secure, and efficient transactions has spurred on an exciting new era of innovation and growth. With 2025 fast approaching, here are important trends that will shape the future of payments:

1. The rise of real-time payments

Until recently, real-time payments have been used in Africa for cross-border mobile money payments, but less so for traditional payments. We are seeing companies like Mastercard investing in this area, as well as central banks in Africa putting focus on this. 

2. Cashless payments will increase

In 2025, we will see the continued acceleration of cashless payments across Africa. B2B payments in particular will also increase. Digital payments began between individuals but are now becoming commonplace for larger corporate transactions. 

3. Digital currency will hit mainstream

In the cryptocurrency space, we will see an increase in the use of stablecoins like United States Digital Currency (USDC) and Tether (USDT) which are linked to US dollars. These will come to replace traditional cryptocurrencies as their price point is more stable. This year, many countries will begin preparing for Central Bank Digital Currencies (CBDCs), government-backed digital currencies which use blockchain. 

The increased uptake of digital currencies reflects the maturity of distributed ledger technology and improved API availability. 

4. Increased government oversight

As adoption of digital currencies will increase, governments will also put more focus into monitoring these flows. In particular, this will centre on companies and banks rather than individuals. The goal of this will be to control and occasionally curb runaway foreign exchange (FX) rates.

5. Business leaders buy into AI technology

In 2025, we will see many business leaders buying into AI through respected providers relying on well-researched platforms and huge data sets. Most companies don’t have the budget to invest in their own research and development in AI, so many are now opting to ‘buy’ into the technology rather than ‘build’ it themselves. Moreover, many businesses are concerned about the risks associated with data ownership and accuracy so buying software is another way to avoid this risk. 

6. Continued AI Adoption in Payments

In payments, the proliferation of AI will continue to improve user experience and increase security.  To detect fraud, AI is used to track patterns and payment flows in real-time. If unusual activity is detected, the technology can be used to flag or even block payments which may be fraudulent. 

When it comes to user experience, we will also see AI being used to improve the interface design of payment platforms. The technology will also increasingly be used for translation for international payment platforms.

7. Rise of Super Apps

To get more from their platforms, mobile network operators are building comprehensive service platforms, integrating multiple payment experiences into a single app. This reflects the shift of many users moving from text-based services to mobile apps. Rather than offering a single service, super apps are packing many other services into a single app. For example, apps which may have previously been used primarily for lending, now have options for saving and paying bills. 

8. Business strategy shift

Recent major technological changes will force business leaders to focus on much shorter prediction and reaction cycles. Because the rate of change has been unprecedented in the past year, this will force decision-makers to adapt quickly, be decisive and nimble. 

As the payments space evolves,  businesses, banks, and governments must continually embrace innovation, collaboration, and prioritise customer needs. These efforts build a more inclusive, secure, and efficient payment system that supports local to global economic growth – enabling true financial inclusion across borders.

Luke Kyohere is the Group Chief Product and Innovation Officer at Onafriq

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Destination Ekiti: Two Elections, One Lesson in Vision

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welcome to Ekiti

By Oludayo Oludee Olorunfemi

A couple of months ago, my principal, Mrs Oyinkansola Badejo-Okusanya (SAN), was scheduled to travel from Lagos to Akure for an interactive meeting as part of her consultation process before contesting for the office of President of the Nigerian Bar Association (NBA). Today, she stands cleared to contest the election; the ban on campaigning has been lifted, with elections scheduled for 20 July 2026. However, this is not the central story. What stays with me from that trip is an unexpected lesson in leadership, vision, and the power of deliberate planning. It is a lesson that has become even more relevant as Ekiti State prepares for its governorship election on 20 June 2026, exactly one month before the NBA election. Two elections. Two different constituencies. Two different ballots. Yet remarkably similar questions before the voters.

Who has the vision? Who has done the work? Who has demonstrated the capacity to build for the future rather than merely campaign for the present? The journey began with a logistical challenge. The available flight from Lagos to Akure was scheduled for later in the day and would not get the team to Ondo State in time for a series of engagements planned across Akure, Owo, and Ondo Town.

During discussions on the best alternative, I suggested that we fly into Ekiti through the newly commissioned Ekiti Agro-Allied International Airport. The plan was simple: arrive early in Ado-Ekiti, make strategic visits to leaders of the Bar within the State, and then proceed by road to Akure for the scheduled meetings. What none of us anticipated was that Ekiti itself would become the story. Our first stop was a courtesy visit to Aare Afe Babalola, SAN, founder of Afe Babalola University, Ado-Ekiti. The purpose was straightforward: seek Baba’s blessings for the journey ahead. As always, a visit to Aare Afe Babalola became a masterclass. Drawing from over ninety years of experience, he spoke about governance, leadership, the legal profession, and nation-building. Listening to him, one could not help but reflect on the legacy. Across the South-West, the Aare Afe Babalola Bar Centres stand as visible reminders that impactful leadership is measured not by promises made but by institutions built.

As we continued our visits across Ekiti, someone suggested we stop by the Ekiti State Bureau of Tourism, headed by the energetic lawyer and tourism advocate, Mr Wale Ojo-Lanre. That unplanned detour became the highlight of the trip. The welcome was unmistakably Ekiti, warm, thoughtful, and rich in culture. Before we entered, we observed the symbolic knocking on the traditional drum suspended at the entrance. Then came the recitation of Mrs Badejo-Okusanya’s oriki as an Egba woman, evidence that our hosts had taken time to learn about their distinguished guest before our arrival. It was a small gesture, but one that reflected a larger truth about Ekiti, a people deeply connected to their culture, history, and identity. What followed was even more enlightening.

Officials of the Bureau took us through the various tourism assets of the state and presented the Ekiti State Tourism Development Master Plan (2025–2035). As a proud daughter of Ekiti, I listened with a sense of pride and optimism. The vision was clear. Tourism was no longer being treated as an afterthought but as a strategic economic pillar. Through public-private partnerships, destination governance, infrastructure development, cultural and eco-tourism innovation, enhanced security, asset development, and community empowerment, the state is seeking to position itself as a destination of choice. What impressed me most was the coherence of the plan. Too often, governments commission projects without building ecosystems. What we saw in Ekiti was different. It was a deliberate attempt to connect infrastructure, policy, investment, culture, and people into a sustainable tourism economy. It was the kind of long-term thinking that separates administration from leadership.

The next day, after completing our engagements in Ondo State, on our way back to catch our return flight, we stopped at Ikogosi Warm Springs Resort. Some places are beautiful. Others are transformative. Ikogosi belongs firmly in the second category. Listening to Madam Ruth, our tour guide, narrate the history of the springs, watching warm and cold waters continuously flow side by side, placing one foot in each stream, and observing the famous intertwined trees thriving together despite their differences, one could not help but marvel at nature’s wisdom. Different streams. One destination. Different identities. Shared purpose. The carefully curated pathways, the serenity of the environment, the chorus of birdsong, and the pristine landscape created a profound sense of peace. By the time we left, the verdict from everyone on the team was unanimous: we will be back. GO SEE IKOGOSI.

Ekiti is sitting on immense tourism potential. Not potential that exists only in policy documents or political speeches, but real, tangible, marketable potential. From Ikogosi to Arinta Waterfalls, to Mount of Clouds, to Olosunta Hills; from cultural festivals to ecotourism sites, from its rich history to its emerging infrastructure, Ekiti possesses many of the ingredients required to become one of Nigeria’s premier tourism destinations. What remains essential is sustained leadership and the courage to pursue a vision beyond electoral cycles. Perhaps that is why the coincidence of the election dates feels significant. On 20 June, the people of Ekiti will evaluate the leadership before them and determine the future direction of their state. One month later, on 20 July, lawyers across Nigeria will make a similar decision about the future of their association. The parallels are difficult to ignore.

In Ekiti, Governor Biodun Oyebanji has built a reputation for quiet but purposeful governance. Rather than chasing headlines, his administration appears focused on laying foundations in infrastructure, agriculture, education, and tourism that will yield benefits long after the politics of the moment have passed. In the NBA, Oyinkansola Badejo-Okusanya (SAN) presents a similar proposition. Her aspiration has been defined by consultation, engagement, bridge-building, and a vision of a bar that is inclusive, progressive, and institution-focused. Both represent a leadership philosophy that values preparation over performance. Both understand that sustainable progress requires patience. Both appear committed to building structures and a legacy of service that will outlive them.

As we departed Ekiti that evening, we left with more than memories of a successful consultation trip. We left with a renewed appreciation for what thoughtful leadership can accomplish. We left with fresh ideas. We left inspired by the possibilities that exist when vision is matched with execution. Most importantly, we left convinced that Ekiti’s tourism story is only beginning to be told. Destination Ekiti is more than a slogan. In the month that separates 20 June from 20 July, voters in Ekiti and lawyers across Nigeria will be asked essentially the same question: Do we reward those who merely speak about the future, or those who are deliberately building it? For Ekiti, for the NBA, and for all who believe in the power of institutions, the answer should be a BOLD Yes!

Oludayo Oludee Olorunfemi, a lawyer, writes from Ward 10, Idemo Quarters of Oke Aiyedun Ekiti, Ajoni LCDA.

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Why Most Nigerians Are Losing Money by “Saving” It

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Saving Your Money

By Izekeo Adegoke

Somewhere in Nigeria right now, a diligent, financially responsible person is watching their savings grow, and losing money at the same time. They do not know it. Their bank balance is rising. Their statement looks healthy. But in real terms, their wealth is quietly and consistently shrinking.

This is not a fringe scenario. It describes the financial situation of millions of Nigerians who are doing everything they were taught.

The gap nobody talks about

Here is the arithmetic that changes the conversation.

The average Nigerian savings account yields between 2% and 4% per annum. Nigeria’s inflation rate, as of recent Central Bank data, sits at approximately 15.69%. That means if you have ₦1 million in a savings account today, it will nominally become ₦1,030,000 in a year, but the real purchasing power of that money will have fallen to the equivalent of roughly ₦790,000 in today’s terms. You saved diligently. You lost ₦210,000 in purchasing power.

This is what economists call negative real returns, and it is the financial reality for the majority of Nigerian savers right now. The distinction between keeping money safe and making money grow has never mattered more than it does in this macroeconomic environment.

Why the savings instinct made sense and no longer does

The preference for savings accounts is not irrational. It is inherited. A generation of Nigerians was raised during periods of significant economic volatility, bank failures, currency devaluations, and frozen accounts. Saving in a regulated institution felt like the responsible, conservative choice. The alternative, markets, stocks, and funds, felt speculative and risky.

That instinct made sense in its context. But the financial landscape has changed materially, and the definition of “safe” needs to catch up.

A savings account today is not a low-risk option. It is a guaranteed negative return dressed in conservative language. The risk is not that you will lose your capital in nominal terms. The risk is that your capital will progressively lose its ability to buy things, fund a retirement, educate children, or build the future you are working toward. That is a real loss, even if your statement does not show it.

The behaviour-change that changes everything

The shift from saving to investing is not about abandoning caution. It is about directing caution more effectively. A diversified investment portfolio spread across fixed income instruments, equities, dollar-denominated assets, and alternative holdings does not eliminate risk. It manages it intelligently, and in doing so, gives your money a fighting chance against inflation.

Consider a ₦1 million portfolio invested across a balanced mix of Nigerian equities and fixed income instruments targeting a 15–18% annual return. Over three years, compounding and market participation could bring that to approximately ₦1.5–1.6 million in nominal terms and, depending on portfolio construction, meaningfully above the inflation rate in real terms. The savings account brings you to ₦1.09 million, having lost ground every single year.

The numbers are not subtle. They are decisive.

Coronation Wealth’s answer to the problem

This is precisely the problem Coronation Wealth was built to solve. Our platforms give individuals access to professionally managed, diversified portfolios across multiple asset classes, including dollar-denominated instruments that provide a structural hedge against naira depreciation. These are not products previously available only to institutional clients or high-net-worth individuals. They are accessible, clearly structured, and designed for people who want their money working as hard as they do. Wealth creation, as we understand it, is not about spectacular bets. It is about making consistent, informed decisions over time with the right tools, the right structure, and a partner who understands the environment in which you operate.

The reframe you need

Safety is not a function of where your money sits. It is a function of what your money does.

A savings account feels safe because the number never goes down. But if that number cannot keep pace with the cost of living, the cost of education, the cost of the future, it is not protecting you. It gives you the illusion of security while inflation quietly does its work.

The most dangerous financial decision most Nigerians are making right now is not taking too much risk. It is the decision to play it safe, and that is precisely why it needs to change.

Izekeo Adegoke is the Chief Digital Officer at Coronation Wealth, the digital investment and wealth management subsidiary of the Coronation Group in Nigeria. 

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This Is Not the Season to Miss Anything (Because the Internet Will Not Wait for You)

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DStv and GOtv

There were times when entertainment moved slowly enough that you could catch up later without missing much. This is not one of those times. Right now, everything is happening at once, and if you blink, the internet will already summarise it for you in a version that may not even be fully accurate.

We are in a phase where the moment a show, movie, or reality series airs, clips are already circulating online before many people have watched the full episode. Opinions are formed from short edits, screenshots, and snippets rather than the full context, and conversations often take shape around what has been clipped and shared instead of what actually happened in real time. The ongoing BBNaija Reunion is a clear example of this, with viral moments driving debates and narratives long before many viewers have seen the complete exchange.

And it is not just Big Brother.

The World Cup is literally here, and you already know what that means. Most of the matches are played deep into the night, so many people will wake up to scores they didn’t watch live, scroll cautiously through social media trying to avoid spoilers, or quickly hunt for highlights before someone ruins the result in a group chat or on X. Somehow, everyone will still be expected to join the “did you see that match?” conversation the next morning as if they were awake through every minute of it.

This is the reality of modern viewing: nobody is waiting for you anymore. The funny part is what people do when they miss it. You will see someone on X asking, “abeg who has the link to watch last night’s episode?” and within minutes, replies start flying. Somebody drops a Telegram channel like it is normal, another person shares a random website link, and another group is already posting 30-second clips with captions like “full gist inside” as if that is the full experience.

Before you know it, people are no longer watching the show. They are watching fragments, then opinions, then blog interpretations, then X reactions. And somehow that becomes the version of events that spreads fastest.

That is where the problem starts. Social media does not give context. It gives highlights. Blogs chase clicks, not full stories. Even viral clips in group chats are usually missing the build-up that actually explains why people reacted the way they did.

So, you find yourself arguing passionately about something you did not fully watch. You are forming opinions from “see finish” clips and half-context screenshots. And when you finally watch the full episode later, everything suddenly makes more sense than the version you were dragged into online.

That is why access is becoming more important than ever. Not just access to content, but access to it in real time. Because nothing really hits like watching it live, as it unfolds, with everyone reacting at the same moment. Whether it is a last-minute World Cup goal, a heated reunion moment, or something that instantly becomes meme history, the experience is always different when you are actually there for it.

And this is exactly where viewing has changed. People are no longer tied to one screen in the sitting room. Life does not even allow that anymore. You might be in traffic, at work, outside, or simply away from your decoder when something important is happening, which used to mean you missed your favourite show; now you don’t have to.

Because platforms like DStv and GOtv now let you stay connected even when you are not in front of your television. So instead of chasing Telegram links that may or may not work, which is piracy by the way, or waiting for someone to “summarise what happened,” you can actually watch it yourself.

You can still stay connected using the MyDStv or GOtv Stream app. It is simple. Download the app from your store, log in with your account details, ensure your subscription is active, then head to the Live TV section and select the channel you want. In a few taps, you are back inside the moment everyone is talking about.

And honestly, that is what this season demands. Between Big Brother conversations taking over timelines, new reality TV seasons building buzz, and the World Cup about to dominate every screen in the next few days, this is not the time to be disconnected. Not even the time to say “I’ll catch up later”, because later is exactly where spoilers live now.

So, whether you are watching from your decoder at home or streaming from your phone on the move, the point is the same: you are not out of the conversation. Because in today’s world, missing the show is one thing.

Missing the moment everyone is talking about? That one is harder to recover from.

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