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Swipe Plans Credit Services Expansion with $500k

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Swipe credit services

By Adedapo Adesanya

Nigerian fintech startup, Swipe, has raised $500,000 in pre-seed funding as it looks to expand access to its various credit services.

The company’s mission is to drive credit card adoption through its Cards as a Service (CAAS) product by liaising with employers and facilitating flexible payments at checkout points across Africa with its Buy-Now-Pay-Later (BNPL) product.

In an interview with Disrupt Africa, Mr Temidayo Dauda, CEO of Swipe said through the use of a card, users will be allowed to access the BNPL product

“Our BNPL model onboards merchants onto our platform and allows users to buy now and pay later using a Swipe Card while our CAAS model onboards organisations and companies as partners to assist with the management, funding, and tracking of field expenses incurred by employees using Swipe Cards.

“On the CAAS model, employees are allowed flexible access to up to 50 per cent of their earned salary via Swipe Card,” he was quoted as saying.

“Considering the Nigerian economy, we spotted that people in Nigeria need more flexible ways of making payments for products and services. People had to wait till payday or borrow from friends to pay for their needs. We noticed this and decided to find a solution to help our target users get their needs at the moment while spreading the payments over a scheduled time interval,” he added.

In 2020, Swipe partnered with Flutterwave to provide card services to users. However, the team had to move on to a more versatile card service as customers were restricted from making transactions on platforms that did not support Flutterwave’s Rave.

By December 2021, Swipe was able to begin the implementation of MasterCard services to help users gain wider access to a vast pool of merchants.

The startup has raised $500,000 in pre-seed funding to help it expand, and has also entered into partnerships with Interswitch and Providus MasterCard.

Mr Dauda said it was in the process of closing new deals with some top e-commerce firms. All of this is aimed at driving more uptake, and expanding into new markets.

“We believe that this trajectory will drive credit card adoption beyond individuals and improve the overall perception of credit purchases across the country,” said Mr Dauda.

“We have an objective of shipping this solution across Africa soon, but at the moment, we’re first building confidence in the use of our BNPL and CAAS products across Nigeria.”

Founded in 2020, Swipe is a credit-focused tech company powering businesses in Africa by providing credit solutions to enable business growth and expansion through credit purchases.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Telecom Operators to Issue 14-Day Notice Before SIM Disconnection

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SIM Cards Nigeria

By Adedapo Adesanya

Telecommunications operators in Nigeria will now be required to give subscribers a minimum of 14 days’ notice before deactivating their SIM cards over inactivity or post-paid churn, following a fresh proposal by the Nigerian Communications Commission (NCC).

The proposal is contained in a consultation paper, signed by the Executive Vice Chairman and Chief Executive Officer of the NCC, Mr Aminu Maida, and titled Stakeholders Consultation Process for the Telecoms Identity Risks Management Platform, dated February 26, 2026, and published on the Commission’s website.

Under the proposed amendments to the Quality-of-Service (QoS) Business Rules, the Commission said operators must notify affected subscribers ahead of any planned churn.

“Prior to churning of a post-paid line, the Operator shall send a notification to the affected subscriber through an alternative line or an email on the pending churning of his line,” the document stated.

It added that “this notification shall be sent at least 14 days before the final date for the churn of the number.”

A similar provision was proposed for prepaid subscribers. According to the Commission, operators must equally notify prepaid customers via an alternative line or email at least 14 days before the final churn date.

Currently, under Section 2.3.1 of the QoS Business Rules, a subscriber’s line may be deactivated if it has not been used for six months for a revenue-generating event. If the inactivity persists for another six months, the subscriber risks losing the number entirely, except in cases of proven network-related faults.

The new proposal is part of a broader regulatory review tied to the rollout of the Telecoms Identity Risk Management System (TIRMS), a cross-sector platform designed to curb fraud linked to recycled, swapped and barred mobile numbers.

The NCC explained in the background section of the paper that TIRMS is a secure, regulatory-backed platform that helps prevent fraud stemming from churned, swapped, barred Mobile Station International Subscriber Directory Numbers in Nigeria.

It said this platform will provide a uniform approach for all sectors in relation to the integrity and utilisation of registered MSISDNs on the Nigerian Communications network.

In addition to the 14-day notice requirement, the Commission also proposed that operators must submit details of all churned numbers to TIRMS within seven days of completing the churn process, strengthening oversight and accountability in the system.

The consultation process, which the Commission said is in line with Section 58 of the Nigerian Communications Act 2003, will remain open for 21 days from the date of publication. Stakeholders are expected to submit their comments on or before March 20, 2026.

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Silverbird Honours Interswitch’s Elegbe for Nigeria’s Digital Payments Revolution

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Mitchell Elegbe Interswitch

By Modupe Gbadeyanka

The founder of Interswitch, Mr Mitchell Elegbe, has been honoured for pioneering Nigeria’s digital payments revolution.

At a ceremony in Lagos on Sunday, March 1, 2026, he was bestowed with the 2025 Silverbird Special Achievement Award for shaping Africa’s financial ecosystem.

The Silverbird Special Achievement Award recognises individuals whose innovation, vision, and sustained impact have left an indelible mark on society.

Mr Elegbe described the award as both humbling and symbolic of a broader journey, saying, “This honour represents far more than a personal milestone. It reflects the courage of a team that believed, long before it was fashionable, that Nigeria and Africa could build world-class financial infrastructure.”

“When we started Interswitch, we were driven by a simple but powerful idea that technology could democratise access, unlock opportunity, and enable commerce at scale.

“This recognition by Silverbird strengthens our resolve to continue building systems that empower businesses, support governments, and expand inclusion across the continent,” he said when he received the accolade at the Silverbird Man of the Year Awards ceremony attended by several other dignitaries, whose leadership and contributions continue to shape national development and industry transformation.

In 2002, Mr Elegbe established Interswitch after he was inspired by a bold conviction that technology could fundamentally redefine how value moves within and across economies.

Under his leadership, the company has evolved into one of Africa’s foremost integrated payments and digital commerce companies, powering financial transactions for governments, banks, businesses, and millions of consumers.

Today, much of Nigeria’s electronic payments ecosystem traces its foundational architecture to the systems and rails established under his leadership.

“Mitchell’s journey is inseparable from Nigeria’s digital payments evolution. His foresight and resilience helped establish foundational infrastructure at a time when the ecosystem was still nascent.

“This recognition affirms not only his personal legacy, but the broader impact of Interswitch in enabling commerce and strengthening financial systems across Africa,” the Executive Vice President and Group Marketing and Communications for Interswitch, Ms Cherry Eromosele, commented.

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SERAP Seeks FCCPC Probe into Big Tech’s Impact on Nigeria’s Digital Economy

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SERAP

By Adedapo Adesanya

The Socio-Economic Rights and Accountability Project (SERAP) has called on the Federal Competition and Consumer Protection Commission (FCCPC) to urgently investigate major global technology companies over alleged abuses affecting Nigeria’s digital economy, media freedom, privacy rights and democratic integrity.

In a complaint addressed to the chief executive of FCCPC, Mr Tunji Bello, the group accused Google, Meta (Facebook), Apple, Microsoft (Bing), X, TikTok, Amazon and YouTube of deploying opaque algorithms and leveraging market dominance in ways that allegedly undermine Nigerian media organisations, businesses, and citizens’ rights.

The complaint, signed by SERAP Deputy Director, Mr Kolawole Oluwadare, urged the commission to take measures necessary to urgently prevent further unfair market practices, algorithmic influence, consumer harm and abuses of media freedom, freedom of expression, privacy, and access to information.”

SERAP also asked the FCCPC to convene a public hearing to investigate allegations of algorithmic discrimination, data exploitation, revenue diversion, and anti-competitive conduct involving the tech giants.

According to the organisation, dominant digital platforms now act as private gatekeepers of Nigeria’s information and business ecosystem, wielding enormous influence over public discourse and market competition without sufficient transparency or regulatory oversight.

“Millions of Nigerians rely on these platforms for news, information and business opportunities,” SERAP stated, warning that opaque algorithms and offshore revenue extraction models pose both economic and human rights concerns.

The group argued that the alleged practices threaten media plurality, consumer protection, privacy rights, and the integrity of Nigeria’s forthcoming elections.

SERAP pointed to actions taken by the South African Competition Commission, which investigated Google over alleged bias against local media content, adding that the South African probe reportedly resulted in measures including algorithmic transparency requirements, compliance monitoring and financial remedies.

SERAP urged the FCCPC to take similar steps to safeguard Nigerian media and businesses.

The organisation maintained that if established, the allegations could amount to violations of Sections 17 and 18 of the Federal Competition and Consumer Protection Act (FCCPA), which prohibit abuse of market dominance and anti-competitive conduct.

SERAP stressed that the FCCPC has statutory authority to investigate and sanction conduct that substantially prevents, restricts or distorts competition in Nigeria.

It also warned that failure by the Commission to act promptly could prompt the organisation to pursue legal action to compel regulatory intervention.

Citing concerns reportedly raised by the Nigerian Press Organisation (NPO), SERAP said big tech companies have fundamentally altered Nigeria’s information environment, creating what it described as a structural imbalance of power that threatens the sustainability of professional journalism.

Among the allegations listed are: Algorithms controlled outside Nigeria determining content visibility, monetisation of Nigerian news content without proportionate reinvestment, offshore extraction of advertising revenues, limited discoverability of Nigerian websites and platforms, and lack of transparency in ranking and recommendation systems.

SERAP argued that declining revenues in the Nigerian media industry have led to shrinking newsrooms, closure of bureaus, and the emergence of news deserts, weakening journalism’s constitutional role in democratic accountability.

The organisation further warned that algorithmic opacity and data-driven micro-targeting could influence voter exposure to information ahead of Nigeria’s forthcoming elections, raising concerns about electoral fairness and transparency.

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