Top 50 Fintech Companies in Nigeria You Should Know

Nigeria’s fintech industry is experiencing explosive growth, positioning the country as the undisputed leader of Africa’s digital finance revolution.

With over 60% of Africa’s fintech funding flowing into Nigeria, the nation has become a fertile ground for innovation, entrepreneurship, and financial inclusion.

From mobile payments and digital lending to wealth management and blockchain solutions, Nigerian fintech companies are transforming how millions of people access and manage money.

In a country where traditional banking once left large segments of the population underserved, fintech has stepped in to bridge the gap—offering fast, secure, and user-friendly financial solutions.

This thriving ecosystem is driven by visionary startups, forward-thinking investors, and a young, tech-savvy population eager to embrace digital tools that simplify their financial lives.

From giants like Flutterwave, Paystack, and Kuda Bank to emerging innovators such as Risevest and FairMoney, Nigerian fintechs are not just solving local challenges—they’re setting global benchmarks.

In this post, we’ll explore 50 of the most innovative fintech companies in Nigeria that are driving financial inclusion, redefining digital banking, and shaping the future of Africa’s financial landscape.

Whether you’re an investor, entrepreneur, or tech enthusiast, this list will help you discover the key players powering Nigeria’s fintech success story.

Overview of Nigeria’s Fintech Ecosystem

Nigeria’s fintech ecosystem stands as one of the most dynamic and rapidly evolving in the world, driving the digital transformation of Africa’s financial services industry.

Over the past decade, the sector has grown exponentially, fueled by high smartphone adoption, an expanding internet user base, and a youthful population eager for digital solutions.

According to industry reports, Nigeria hosts over 200 fintech startups and attracts more than 60% of Africa’s fintech investment, highlighting its position as the continent’s fintech powerhouse.

Key growth areas include mobile payments, digital lending, wealth management, and blockchain technology.

Platforms like Flutterwave, Paystack, and Moniepoint are revolutionizing payments and merchant services, while companies such as FairMoney and Carbon are democratizing access to credit through data-driven lending.

Meanwhile, investment apps like Cowrywise and Bamboo are introducing millions of Nigerians to the world of savings and wealth creation.

However, the industry isn’t without challenges. Regulatory uncertainty, cybersecurity threats, and infrastructure gaps remain pressing concerns.

Despite these hurdles, continuous collaboration between fintechs, regulators, and traditional financial institutions is fostering a more inclusive, secure, and innovative environment.

Nigeria leads in fintech innovation not just because of capital inflow, but because of its entrepreneurial spirit, tech talent, and massive unbanked population seeking alternatives to traditional banking. The result is a vibrant ecosystem that continues to inspire similar growth across the African continent.

Top 50 Fintech Companies in Nigeria You Should Know

Payments & Transfers

1. Flutterwave (Founded 2016) – flutterwave.com

A leading African payments company enabling businesses to accept and send money globally. Known for its seamless API integrations and partnerships with global giants like PayPal and VISA.

2. Paystack (Founded 2015) – paystack.com

Acquired by Stripe in 2020, Paystack powers online payments for thousands of Nigerian merchants, offering reliable card, bank, and mobile wallet transactions.

3. Paga (Founded 2009) – mypaga.com

Paga simplifies digital payments for individuals and businesses, supporting transfers, bill payments, and airtime top-ups through its mobile app and agent network.

4. OPay (Founded 2018) – opayweb.com

A super app offering payments, ride-hailing, and mobile banking services. OPay’s extensive agent network has made it a top player in Nigeria’s cashless ecosystem.

5. Moniepoint (formerly TeamApt) (Founded 2015) – moniepoint.com

Provides payment solutions for SMEs, including POS systems and business banking services. Moniepoint is one of Nigeria’s most profitable fintechs, serving millions nationwide.

6. Interswitch (Founded 2002) – interswitchgroup.com

A pioneer in Nigerian digital payments, Interswitch connects banks, ATMs, and mobile users through its robust infrastructure and the Verve card brand.

7. Remita (Founded 2005) – remita.net

Used by government agencies and private organizations, Remita enables secure payments, payroll management, and collections.

Lending & Credit Platforms

8. FairMoney (Founded 2017) – fairmoney.io

A digital bank and lending app offering instant loans, bill payments, and free bank transfers to millions of Nigerians.

9. Carbon (formerly Paylater) (Founded 2016) – getcarbon.co

Carbon provides personal and business loans, bill payments, and credit score tracking — all in one sleek mobile platform.

10. Branch (Founded 2015) – branch.com.ng

A micro-lending platform leveraging mobile data to offer instant loans, savings, and investments with flexible repayment options.

11. Renmoney (Founded 2012) – renmoney.com

Focuses on consumer lending and savings solutions for salary earners and small businesses, offering competitive interest rates.

12. QuickCheck (Founded 2017) – quickcheck.ng

An AI-powered loan app that provides quick credit access to individuals with no collateral and minimal paperwork.

13. Kiakia (Founded 2016) – kiakia.co

A peer-to-peer lending platform that connects lenders directly with borrowers, offering fair interest rates and transparency.

Investment & Wealth Management

14. Cowrywise (Founded 2017) – cowrywise.com

Empowers users to automate savings and invest in mutual funds, promoting wealth creation through accessible financial tools.

15. Bamboo (Founded 2019) – investbamboo.com

Lets Nigerians invest in U.S. and Nigerian stocks directly from their smartphones, democratizing global investing.

16. Trove (Founded 2019) – troveapp.co

Offers fractional investing in global stocks, ETFs, and bonds with low entry amounts, appealing to young investors.

17. Risevest (Founded 2019) – risevest.com

Provides dollar-denominated investment portfolios across real estate, stocks, and fixed income, helping users grow wealth in stable currencies.

18. Chaka (Founded 2019) – chaka.ng

Bridges local and global investment markets, giving Nigerians access to over 4,000 assets across multiple exchanges.

19. PiggyVest (Founded 2016) – piggyvest.com

One of Nigeria’s most popular savings and investment platforms, allowing users to automate savings and earn returns.

Neobanks & Digital Banking

20. Kuda Bank (Founded 2019) – kuda.com

A fully digital bank offering zero maintenance fees, budgeting tools, and instant transfers — often dubbed “the bank of the free.”

21. ALAT by Wema (Founded 2017) – alat.ng

Nigeria’s first fully digital bank, offering savings, virtual cards, and instant loans within a mobile-first experience.

22. Eyowo (Founded 2018) – eyowo.com

A digital financial platform offering mobile banking, payment cards, and credit services with a focus on financial inclusion.

23. Rubies Bank (Founded 2018) – rubiesbank.io

A digital-only bank offering personal and business accounts, peer-to-peer payments, and customized financial tools.

24. Sparkle (Founded 2019) – sparkle.ng

Created by former Diamond Bank CEO Uzoma Dozie, Sparkle merges banking and lifestyle features to help users manage money smartly.

25. VBank (Founded 2020) – vbank.ng

A mobile-only bank focused on empowering small businesses and freelancers with easy account setup and expense tracking.

Blockchain, Crypto & Remittance

26. Bitmama (Founded 2016) – bitmama.io

A crypto trading platform enabling users to buy, sell, and pay with cryptocurrencies across Africa.

27. Yellow Card (Founded 2018) – yellowcard.io

Simplifies crypto access with local payment methods and affordable transaction fees across multiple African countries.

28. Patricia (Founded 2017) – patricia.co

Offers crypto exchange, gift card trading, and digital wallet services, making crypto use cases more mainstream in Nigeria.

29. Fluidcoins (Founded 2021) – fluidcoins.com

A fast-growing startup providing crypto payment infrastructure for African businesses.

30. Busha (Founded 2019) – busha.co

A trusted platform for buying, selling, and saving cryptocurrencies securely, with an easy-to-use mobile app.

Insurtech & RegTech

31. Casava (Founded 2021) – casava.co

Nigeria’s first fully digital insurance company offering affordable cover for health, income, and life directly through mobile.

32. Curacel (Founded 2017) – curacel.co

A claims automation platform helping insurers detect fraud and process claims efficiently using AI.

33. Octamile (Founded 2021) – octamile.com

Provides embedded insurance infrastructure that allows businesses to easily integrate insurance into their products.

Infrastructure & Data-Driven Fintechs

34. OnePipe (Founded 2018) – onepipe.io

Connects banks and fintechs via APIs to enable open banking and embedded finance solutions in Africa.

35. Okra (Founded 2020) – okra.ng

An open banking platform that gives developers access to real-time financial data to build personalized fintech products.

36. Mono (Founded 2020) – mono.co

Provides secure APIs for accessing bank data, powering innovative financial apps and services.

Business & Merchant Solutions

37. Bumpa (Founded 2020) – getbumpa.com

Helps small businesses manage sales, inventory, and payments all in one app — simplifying eCommerce operations.

38. NowNow (Founded 2018) – nownow.ng

A fintech and agent banking platform offering digital payment and wallet services for individuals and SMEs.

39. Kudi (Founded 2017) – kudi.ai

Now part of Nomba, Kudi provides agent banking and POS solutions that make digital transactions accessible to everyone.

40. Nomba (Founded 2017) – nomba.com

Formerly Kudi, Nomba offers business banking tools, POS devices, and analytics to help small businesses grow.

Emerging Fintech Startups to Watch (2025 Update)

41. Sudo Africa – sudo.africa

Provides virtual and physical card issuing infrastructure for fintechs and businesses.

42. Grey – grey.co

Offers borderless banking with virtual foreign accounts for freelancers and remote workers.

43. TopUp Mama – topupmama.com

Helps restaurants manage payments, inventory, and financing through a single digital platform.

44. Zazuu – zazuu.co

A remittance marketplace helping users find the best money transfer rates across Africa.

45. LemFi (formerly Lemonade Finance) – lemfi.com

Enables instant international money transfers between Nigeria, the UK, and other countries.

46. Klasha – klasha.com

Simplifies cross-border eCommerce by allowing Africans to pay international merchants in local currencies.

47. Payhippo – payhippo.ng

Provides fast, collateral-free loans to small businesses through data-driven underwriting.

48. Prospa – getprospa.com

A business banking app designed for entrepreneurs, offering accounts, invoicing, and expense tracking.

49. Lidya – lidya.info

A credit platform empowering SMEs with quick financing and working capital loans.

50. Eversend – eversend.co

A multi-currency e-wallet for sending, receiving, and exchanging money across borders.

Top 50 Fintech Companies in Nigeria – Comparison Table 

Trends & Future Outlook: The Next Wave of Fintech Innovation in Nigeria

Nigeria’s fintech industry is entering a new phase of innovation and expansion, driven by technology, regulation, and global investor interest. As digital adoption deepens, the next wave of fintech innovation will be shaped by artificial intelligence (AI), blockchain technology, and financial inclusion.

AI is revolutionizing customer experience and risk assessment, allowing fintechs to deliver personalized financial products, detect fraud faster, and enhance decision-making.

Meanwhile, blockchain and decentralized finance (DeFi) are creating transparent and secure systems for cross-border payments, remittances, and asset management. Startups leveraging these technologies will define the next generation of financial services in Africa.

Financial inclusion remains at the heart of Nigeria’s fintech revolution. With millions still unbanked or underbanked, digital finance solutions—especially agent banking, micro-lending, and mobile-first platforms—will continue to bridge access gaps across rural and urban areas.

Investors are also doubling down on Nigerian fintechs, drawn by a young population, expanding internet penetration, and proven success stories like Flutterwave, Moniepoint, and Kuda. According to analysts, the sector could exceed $50 billion in value by 2030 if innovation and regulation align.

The government and the Central Bank of Nigeria (CBN) are playing increasingly proactive roles in supporting innovation through regulatory sandboxes, open banking frameworks, and digital currency pilots.

Together, these efforts are setting the stage for a more inclusive, secure, and globally competitive fintech ecosystem that will continue to lead Africa’s digital transformation.

Conclusion

These 50 fintech innovators are redefining how Nigerians save, invest, borrow, and transact every day. From seamless digital payments and instant loans to global investment opportunities, these companies are not only transforming financial access but also positioning Nigeria as Africa’s fintech powerhouse.

The success of brands like Flutterwave, Kuda, Moniepoint, and PiggyVest demonstrates how technology can bridge financial gaps, empower small businesses, and improve everyday life.

Yet, what makes Nigeria’s fintech landscape truly remarkable is its continuous wave of innovation — new startups are emerging every year, pushing boundaries and expanding inclusion even further.

As regulation becomes more supportive and investors continue to pour in, the future of Nigeria’s fintech industry looks brighter than ever. The next decade will likely see deeper integration of AI, blockchain, and open banking, driving smarter, faster, and more personalized financial solutions for millions.

Which of these fintech companies do you use or admire most?

Share your thoughts in the comments below, and let’s celebrate the creativity and resilience driving Nigeria’s digital finance revolution. Don’t forget to share this post with fellow tech enthusiasts or entrepreneurs interested in the future of fintech in Africa!

Frequently Asked Questions

What is the best fintech company in Nigeria?

Nigeria’s financial technology (fintech) landscape has experienced rapid growth in recent years, with several innovative companies emerging to reshape how people save, invest, and make transactions.

While opinions may differ on what qualifies as the “best” fintech company, Flutterwave consistently stands out as the leading player due to its innovation, international reach, and impact on Africa’s digital payment ecosystem.

Founded in 2016 by Olugbenga Agboola and Iyinoluwa Aboyeji, Flutterwave provides a global payment infrastructure that connects African businesses to the world.

The company offers a suite of payment solutions that allow merchants to accept and send payments in multiple currencies across more than 30 countries.

Flutterwave’s flagship product, “Rave,” simplifies cross-border payments, while its partnership with major global brands like PayPal, Visa, and Worldpay has helped integrate African commerce into the global economy.

One of Flutterwave’s most remarkable achievements is its ability to attract large investments and achieve unicorn status (a valuation exceeding $1 billion) — a rare feat for African startups. It has raised hundreds of millions of dollars in funding from international investors, including Tiger Global and Y Combinator.

These funds have helped the company expand its product offerings and scale operations beyond Nigeria to other African markets, such as Kenya, Ghana, and South Africa.

Flutterwave’s reputation is built on reliability, innovation, and compliance. Its payment infrastructure meets global standards for security, including PCI-DSS certification, which ensures safe handling of customers’ card data.

The company has also diversified into consumer products like “Send by Flutterwave,” enabling remittances from the diaspora to Africa.

Moreover, Flutterwave’s contribution to financial inclusion in Nigeria cannot be overlooked. It supports small and medium-sized enterprises (SMEs) by providing tools to receive online payments easily, even for those without extensive technical skills.

This has empowered thousands of entrepreneurs to digitize their businesses and reach a broader audience.

In summary, while Nigeria has many strong fintech companies — including Paystack, OPay, Kuda, and PiggyVest — Flutterwave stands out as the best overall due to its global impact, technological excellence, and leadership in driving Africa’s fintech revolution.

How many fintech companies are there in Nigeria?

Nigeria currently hosts one of the most vibrant fintech ecosystems in Africa, with an estimated 250 to 300 active fintech companies as of 2025.

This number continues to grow as more entrepreneurs and investors recognize the vast opportunities within the Nigerian financial services industry, driven by the country’s young population, increasing smartphone usage, and growing demand for digital financial solutions.

The fintech sector in Nigeria spans several subcategories, including digital payments, lending platforms, investment tech, insurance tech (insurtech), and blockchain-based startups. Among these, payments and mobile money services dominate, accounting for more than 40% of the fintech market.

This dominance is largely due to the country’s cash-driven economy and the growing need for efficient alternatives that make transactions seamless and accessible to everyone.

Some of the most notable fintech players include Flutterwave, Paystack, OPay, Kuda, Carbon, PiggyVest, PalmPay, and FairMoney. These companies have not only transformed how Nigerians manage money but also enhanced financial inclusion by reaching millions of unbanked citizens.

According to data from the Central Bank of Nigeria (CBN), over 60% of Nigeria’s adult population now has access to formal financial services, a figure that has significantly improved due to fintech innovation.

The Nigerian fintech space is also heavily supported by local and foreign investment. In 2021 alone, Nigerian fintech startups attracted more than $1 billion in funding — representing nearly two-thirds of all venture capital investment in Africa.

This influx of capital has helped startups develop advanced technologies, expand their customer bases, and comply with regulatory standards.

The government and regulatory bodies such as the CBN and the Securities and Exchange Commission (SEC) have also played crucial roles in fostering fintech growth through initiatives like the eNaira,

Nigeria’s central bank digital currency, and regulatory sandboxes that allow startups to test innovative products under supervision.

In conclusion, Nigeria’s fintech sector is booming, with hundreds of active companies contributing to the country’s digital transformation. The number continues to rise as new entrants emerge, making Nigeria the undisputed fintech powerhouse of Africa.

Is OPay a fintech company?

Yes, OPay (short for Opera Pay) is a fintech company, and it is one of the most influential in Nigeria’s financial landscape.

Founded in 2018 by Opera Software — the Norwegian company known for the Opera browser — OPay was created to provide a comprehensive digital financial ecosystem for Africa, starting in Nigeria.

Its mission is to make financial services accessible, affordable, and convenient for everyone, particularly those who are underserved by traditional banking institutions.

OPay operates primarily as a mobile money and digital payments platform. Through its app, users can perform various transactions such as transferring money, paying bills, buying airtime, and funding their betting or utility accounts.

It also provides point-of-sale (POS) services that enable merchants to process cashless payments, significantly expanding access to financial tools in urban and rural areas.

One of OPay’s key strengths lies in its wide agent network. With thousands of agents across Nigeria, the company has brought banking services to people in remote locations, helping bridge the financial inclusion gap.

OPay’s success was accelerated during the cash shortages and COVID-19 pandemic periods, when digital payments became a necessity for millions of Nigerians.

In addition to payments, OPay has diversified into other financial services, including savings, credit, and investment features. It also ventured briefly into ride-hailing (ORide) and food delivery (OFood), though it later scaled back those operations to focus on its core fintech business.

Backed by significant Chinese investment — particularly from SoftBank and Sequoia Capital China — OPay achieved unicorn status in 2021 after raising $400 million at a valuation of $2 billion. This made it one of Africa’s highest-valued startups.

The company’s financial strength and aggressive expansion strategy have allowed it to compete effectively with other fintech giants such as Flutterwave and Paystack.

In summary, OPay is indeed a fintech company, offering digital banking, payment processing, and financial services that promote inclusion and convenience. Its blend of technology, investment, and local understanding has made it one of the most impactful fintechs in Nigeria and across Africa.

Is PiggyVest a fintech company?

Yes, PiggyVest is a fintech company, and it is widely regarded as one of the pioneers of digital savings and investment platforms in Nigeria.

Founded in 2016 by Odunayo Eweniyi, Somto Ifezue, and Joshua Chibueze, PiggyVest started as “Piggybank.ng,” a platform designed to help Nigerians save money consistently through automation. Over the years, it evolved into a full-fledged wealth management and financial technology company.

PiggyVest operates by simplifying the savings and investment process through technology. Users can create savings goals, set automatic deductions, and lock funds for specific periods, preventing impulsive spending.

Its core value lies in helping individuals cultivate financial discipline in a society where saving can be challenging due to economic instability and limited access to structured savings tools.

The platform offers various savings options, such as Piggybank (for automated savings), Safelock (for fixed-term savings), Target Savings (for specific goals like rent or school fees), and Flex Naira (for flexible withdrawals).

Additionally, it provides investment opportunities through its “Investify” feature, where users can invest in pre-vetted, low-risk assets with as little as ₦5,000.

PiggyVest is fully licensed and operates under the regulatory oversight of the Central Bank of Nigeria (CBN) through its partnership with Providus Bank.

It employs bank-grade security systems and encryption technologies to protect user funds and data, which has earned it significant trust among its over 4 million users.

Beyond technology, PiggyVest has contributed significantly to financial inclusion and literacy in Nigeria. The company uses its social media and community platforms to educate users about budgeting, investing, and personal finance.

Its user-centric design and transparency have helped it build a loyal customer base, particularly among young Nigerians.

In summary, PiggyVest is undoubtedly a fintech company, combining innovation, technology, and behavioral economics to help Nigerians save and invest smarter. It stands out as a model of how fintech can solve real financial challenges and empower individuals to achieve financial independence.

Is MTN a fintech?

While MTN Nigeria is primarily known as a telecommunications company, it has successfully transitioned into the fintech space through its mobile financial services.

So yes, MTN can be considered a fintech company, especially given the significant role it plays in digital payments and mobile money solutions in Nigeria and across Africa.

MTN’s fintech journey began with the introduction of MoMo (Mobile Money) — a platform that enables users to send and receive money, pay bills, buy airtime, and perform other financial transactions using their mobile phones.

In 2022, the Central Bank of Nigeria granted MTN’s subsidiary, MoMo Payment Service Bank (MoMo PSB), a full operating license, officially making it a fintech entity authorized to provide digital banking services.

Through MoMo PSB, MTN now competes directly with other fintech companies like OPay, PalmPay, and Paga. The service is especially significant because it reaches millions of unbanked Nigerians, particularly those in rural areas without easy access to traditional banks.

MTN leverages its vast telecom infrastructure and customer base — over 70 million subscribers — to drive financial inclusion at a scale unmatched by most fintech startups.

MTN’s fintech operations have been highly successful across Africa. In Ghana and Uganda, for example, MoMo has become the dominant mobile money platform, facilitating billions of dollars in transactions annually.

In Nigeria, the adoption is growing rapidly, with users enjoying easy wallet funding, agent-based deposits, and withdrawals.

In addition to mobile money, MTN has begun exploring broader fintech opportunities such as lending, savings, and merchant payments. Its focus is on creating a digital ecosystem that integrates telecommunications, banking, and commerce.

This strategy not only diversifies MTN’s revenue streams but also positions it as a key player in Africa’s digital transformation.

In conclusion, MTN is indeed a fintech company, albeit one that evolved from telecommunications. Its innovation in mobile money and financial services has redefined how millions of Africans handle money, proving that telecoms and fintech can successfully merge to drive inclusion and convenience.

What is the biggest tech company in Nigeria?

The biggest tech company in Nigeria is widely recognized as Interswitch Limited, a leading integrated digital payment and transaction company that has shaped the Nigerian and African fintech ecosystem for over two decades.

Founded in 2002 by Mitchell Elegbe, Interswitch began as a payment processing company aimed at digitizing Nigeria’s cash-based economy and providing secure, real-time electronic payment solutions. Over the years, it has grown into a multi-billion-dollar enterprise with operations across Africa.

Interswitch’s primary innovation was the creation of a payment switch system that connects financial institutions, merchants, and consumers, enabling seamless financial transactions.

The company’s flagship product, Quickteller, allows users to perform multiple financial transactions, such as bill payments, airtime top-ups, and funds transfers.

It also operates Verve, Nigeria’s first homegrown payment card brand, which competes with international card schemes like Visa and Mastercard. Today, Verve cards are used in multiple African countries and accepted globally through partnerships with Discover and UnionPay.

One of the major reasons Interswitch is considered Nigeria’s biggest tech company is its financial value and market influence. In 2019, Visa acquired a minority stake in Interswitch, valuing the company at over $1 billion, making it one of Africa’s earliest tech unicorns.

This valuation reflects its dominance in digital payment infrastructure, which supports most of Nigeria’s banks and payment platforms. Virtually every electronic transaction in Nigeria passes through Interswitch’s technology at some stage, underscoring its importance to the nation’s financial system.

Beyond payments, Interswitch has expanded into digital banking, e-commerce, and data analytics. The company provides backend infrastructure and API services to banks, fintech startups, and other institutions, enabling them to innovate faster and serve customers efficiently.

Interswitch’s products are deeply embedded in Nigeria’s economy, helping to drive the Central Bank of Nigeria’s vision for a cashless society.

Interswitch has also contributed significantly to talent development and digital innovation through its STEM education initiatives and partnerships with universities.

The company continues to invest in future technology, such as blockchain and digital currencies, to remain competitive in the evolving global fintech space.

In summary, Interswitch’s vast infrastructure, technological innovation, and economic impact make it the biggest tech company in Nigeria. Its long-term success demonstrates the power of homegrown technology in transforming financial systems and promoting Africa’s digital economy.

Is Kuda a fintech company?

Yes, Kuda Bank, popularly known simply as Kuda, is a fintech company and one of the pioneers of digital-only banking in Nigeria.

Founded in 2019 by Babs Ogundeyi and Musty Mustapha, Kuda was established to revolutionize banking in Nigeria by removing the inefficiencies and high costs associated with traditional banks.

It operates as a microfinance bank licensed by the Central Bank of Nigeria (CBN) but functions fully online without any physical branches.

Kuda’s business model focuses on providing seamless and affordable digital banking services through its mobile app. Customers can open an account within minutes using only their smartphones and perform essential banking activities such as money transfers, bill payments, savings, and budgeting.

One of Kuda’s most attractive features is its zero account maintenance fee policy and free monthly transfers to other banks, which have made it particularly appealing to younger, tech-savvy Nigerians.

As a neobank, Kuda leverages technology to simplify banking and enhance customer experience. The app provides detailed spending analytics, automatic savings options, and instant access to loans for eligible users.

It also offers a physical debit card that can be delivered to customers’ doorsteps, bridging the gap between digital convenience and traditional accessibility. Its interface is user-friendly and designed for transparency, empowering users to manage their finances more effectively.

Kuda’s rise has been impressive. It has attracted millions of users within a few years and secured significant international funding.

The company raised over $90 million from investors such as Target Global, Valar Ventures, and Entrée Capital, achieving a valuation of nearly $500 million. This strong investor confidence reflects Kuda’s potential to become one of Africa’s leading digital banks.

In terms of financial inclusion, Kuda plays a crucial role by reaching unbanked and underbanked Nigerians who previously lacked access to formal financial services.

Its digital-first approach eliminates geographical barriers, allowing people across Nigeria to open accounts and manage money from anywhere. Kuda’s success has inspired other neobanks and fintech startups, contributing to Nigeria’s thriving digital banking ecosystem.

In conclusion, Kuda is indeed a fintech company that redefines banking through innovation, affordability, and accessibility. Its impact on the financial sector proves that technology-driven banking can empower individuals and support Nigeria’s transition to a digital financial future.

Who owns OPay?

OPay is owned by Opera Limited, the Norwegian company best known for its popular Opera web browser, though it is heavily backed by Chinese investors.

Opera launched OPay in 2018 as part of its expansion into Africa’s financial technology market. The company was designed to provide digital financial services such as payments, transfers, loans, and mobile money to users across Nigeria and eventually other African nations.

While Opera initially held majority ownership, OPay’s ownership structure has evolved through various funding rounds involving major international investors.

The most significant investment came in 2021, when OPay raised $400 million in a Series C funding round led by SoftBank’s Vision Fund 2, one of the world’s largest technology investment funds.

Other participants included Sequoia Capital China, DragonBall Capital, and Source Code Capital. This investment valued OPay at over $2 billion, officially giving it unicorn status.

Today, OPay operates as a Chinese-backed fintech company with strategic ties to Opera. Its executive leadership includes a mix of Chinese and Nigerian professionals, with Yahui Zhou, a Chinese billionaire entrepreneur and CEO of Opera Limited, serving as one of the key figures behind OPay’s expansion.

The company’s operational headquarters is in Lagos, Nigeria, but it also has offices in other countries.

Under this ownership structure, OPay has grown rapidly, becoming one of the largest mobile money operators in Nigeria. The company offers services such as peer-to-peer transfers, bill payments, POS operations, and business wallet solutions.

Its extensive agent network, numbering in the hundreds of thousands, has made OPay a cornerstone of Nigeria’s digital payment infrastructure.

Despite foreign ownership, OPay is deeply integrated into Nigeria’s economy. The company employs thousands of Nigerians and supports local businesses through its payment ecosystem.

Its growth also highlights the increasing influence of Asian investment in Africa’s fintech sector, as Chinese investors continue to recognize the continent’s potential for digital financial expansion.

In summary, OPay is owned by Opera Limited and a consortium of Chinese investors, with SoftBank and Sequoia Capital China being major stakeholders.

The company’s hybrid ownership model has provided it with the technological expertise and financial resources necessary to dominate Nigeria’s fintech market.

Is PayPal a fintech?

Yes, PayPal is one of the world’s leading fintech companies, and it has been at the forefront of digital payment innovation for over two decades.

Founded in 1998 by Max Levchin, Peter Thiel, and Elon Musk, PayPal revolutionized the way people send and receive money online, setting the stage for today’s global fintech ecosystem.

At its core, PayPal operates as a digital payment platform that allows individuals and businesses to perform financial transactions electronically without the need for traditional banking intermediaries.

It provides services such as online money transfers, merchant payments, and international remittances. Users can link their PayPal accounts to debit cards, credit cards, or bank accounts to send and receive funds securely across borders.

PayPal’s business model embodies the essence of financial technology — leveraging software and the internet to simplify financial interactions. It introduced features like buyer protection, one-click payments, and merchant integration tools, which have made online shopping safer and more convenient.

Its ecosystem includes subsidiaries like Venmo, a peer-to-peer payment app popular among younger users, and Braintree, which powers payments for companies like Uber and Airbnb.

Globally, PayPal has over 430 million active accounts and processes trillions of dollars in annual payment volume. It operates in more than 200 countries and supports multiple currencies, making it one of the most accessible and trusted fintech platforms worldwide.

The company has also expanded into credit services (through PayPal Credit) and cryptocurrency transactions, allowing users to buy, hold, and sell digital assets.

In Nigeria and other parts of Africa, PayPal plays a significant role in facilitating international commerce. Nigerian freelancers, e-commerce merchants, and digital entrepreneurs rely on PayPal to receive payments from clients abroad.

Although its services in Nigeria are somewhat limited compared to Western markets, PayPal remains an essential tool for cross-border business transactions.

In conclusion, PayPal is undeniably a fintech giant, pioneering digital payments long before fintech became a global trend. Its continuous innovation, global reach, and focus on financial inclusion have made it a cornerstone of the modern digital economy, influencing countless other fintech startups around the world.

Who are the Big 4 companies in Nigeria?

The term “Big 4” in Nigeria refers to the four largest professional services firms offering auditing, consulting, tax advisory, and financial services. These firms are global powerhouses with offices and strong operations in Nigeria. They are:

1. PricewaterhouseCoopers (PwC)

2. KPMG

3. Deloitte

4. Ernst & Young (EY)

Each of these companies plays a critical role in Nigeria’s corporate and financial sectors, providing essential services to both private and public organizations.

PwC Nigeria is one of the most influential among the Big 4. Established in Nigeria in 1953, PwC provides assurance, tax, and advisory services to many of the country’s largest corporations and government institutions.

PwC is known for its expertise in corporate governance, business restructuring, and strategic consulting. Its thought leadership and research publications have contributed significantly to Nigeria’s business policy and economic planning.

KPMG Nigeria has built a strong reputation for auditing and risk management services. With offices in Lagos, Abuja, and Port Harcourt, KPMG works with major banks, oil companies, and manufacturing firms.

The firm is also known for its graduate training programs, which help develop Nigeria’s future business leaders.

Deloitte Nigeria, part of Deloitte Touche Tohmatsu Limited, offers services in audit, consulting, financial advisory, and risk management.

Deloitte is particularly active in technology consulting, helping Nigerian companies adapt to digital transformation. Its expertise spans various industries, including telecommunications, energy, and public sector development.

Ernst & Young (EY) is another major player, providing services in assurance, tax, transaction advisory, and consulting.

EY Nigeria has been instrumental in supporting entrepreneurship and innovation through initiatives such as the EY Entrepreneur of the Year Award, which celebrates exceptional business achievements across Africa.

Together, these Big 4 firms dominate Nigeria’s professional services market, shaping corporate governance, promoting transparency, and influencing business standards across sectors. They are also major employers of Nigerian professionals, providing opportunities for accountants, consultants, analysts, and IT specialists.

In summary, the Big 4 companies in Nigeria — PwC, KPMG, Deloitte, and EY — are globally recognized firms that uphold the highest standards of business excellence. Their combined influence strengthens Nigeria’s financial systems, regulatory compliance, and corporate accountability.

What are the big 7 tech companies?

The term “Big 7 tech companies” typically refers to the seven largest and most influential technology corporations in the world, often called the “Tech Giants” or “Magnificent Seven.” These companies are global leaders in innovation, digital transformation, and market capitalization.

They include Apple, Microsoft, Amazon, Alphabet (Google), Meta (Facebook), Tesla, and Nvidia. Each of these companies dominates a specific technological sector while also diversifying into multiple digital industries.

1. Apple Inc.

Apple is the world’s most valuable company and a leader in consumer electronics and software innovation. Founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in 1976, Apple revolutionized personal computing with the Macintosh, smartphones with the iPhone, and wearables with the Apple Watch.

Its ecosystem of devices and services, such as iCloud, Apple Music, and the App Store, has created one of the most loyal customer bases in the world. Apple’s focus on design, privacy, and integration has made it a benchmark for modern technology excellence.

2. Microsoft Corporation

Founded by Bill Gates and Paul Allen in 1975, Microsoft remains a powerhouse in software development and cloud computing. Its flagship products, such as Windows OS, Office 365, and Azure Cloud Services, dominate enterprise and personal computing markets.

Microsoft has expanded into gaming (Xbox), artificial intelligence, and professional networking through LinkedIn. Its consistent innovation and adaptability have helped it stay relevant for nearly five decades.

3. Amazon.com, Inc.

Amazon, founded by Jeff Bezos in 1994, started as an online bookstore and evolved into the world’s largest e-commerce platform. Beyond retail, Amazon dominates cloud computing through Amazon Web Services (AWS), which powers countless websites and businesses globally.

The company also has a presence in artificial intelligence (Alexa), logistics, streaming (Prime Video), and digital advertising, making it one of the most diversified tech giants.

4. Alphabet Inc. (Google)

Alphabet, Google’s parent company, leads in internet search, online advertising, and digital innovation. Google’s products — including YouTube, Android, Gmail, and Google Maps — are used by billions of people daily.

Alphabet also invests heavily in AI, cloud services, and autonomous technologies through subsidiaries like Waymo and DeepMind. Its dominance in data-driven technologies makes it central to the global digital economy.

5. Meta Platforms, Inc. (Facebook)

Meta, founded by Mark Zuckerberg in 2004, owns Facebook, Instagram, and WhatsApp — three of the world’s largest social networks.

The company rebranded to Meta in 2021 to focus on building the Metaverse, a virtual-reality ecosystem that integrates social interaction, gaming, and commerce. Meta’s platforms shape global communication, digital marketing, and virtual collaboration.

6. Tesla, Inc.

Tesla, led by Elon Musk, is a leader in electric vehicles (EVs) and renewable energy solutions. Founded in 2003, Tesla revolutionized the auto industry by proving that EVs can be desirable, high-performance, and sustainable.

Beyond cars, Tesla’s technology extends to solar energy, battery storage, and self-driving AI, making it a key player in the transition to green technology.

7. Nvidia Corporation

Nvidia, founded in 1993 by Jensen Huang, has become the backbone of the modern AI revolution. Originally a graphics processing unit (GPU) manufacturer, Nvidia now powers artificial intelligence, machine learning, gaming, and data centers worldwide.

Its GPUs are essential for developing AI models and running complex computations, making it one of the most valuable tech companies today.

Collectively, the Big 7 tech companies shape nearly every aspect of modern life — from communication and computing to entertainment and artificial intelligence. Their combined market capitalization exceeds tens of trillions of dollars, and their innovations continue to define the global digital landscape.

Is Flutterwave a Nigerian company?

Yes, Flutterwave is proudly a Nigerian fintech company and one of Africa’s most successful technology startups. It was founded in 2016 by two Nigerians — Olugbenga Agboola and Iyinoluwa Aboyeji — with a mission to simplify payments for businesses across Africa.

Since its inception, Flutterwave has grown into a global payment technology powerhouse, providing modern financial infrastructure that connects African businesses to the international marketplace.

Flutterwave’s headquarters is located in Lagos, Nigeria, though it also maintains offices in San Francisco, California, and several other African countries.

The company’s flagship product, Rave, enables businesses to accept and process payments in multiple currencies via cards, bank transfers, mobile money, and other channels.

This technology allows African merchants to sell globally and receive payments seamlessly, solving one of the continent’s most persistent financial challenges — cross-border payments.

As a Nigerian-founded company, Flutterwave embodies the innovation and entrepreneurial spirit driving Africa’s fintech boom. It operates in over 30 African countries and supports more than 30 currencies, serving millions of customers worldwide.

The company has partnered with global payment platforms like PayPal, Visa, and Worldpay, integrating Africa into the global financial network.

Flutterwave has achieved several remarkable milestones. In 2021, it became a unicorn — a startup valued at over $1 billion — following a $170 million Series C funding round led by Tiger Global and Avenir Growth Capital. This made it one of Africa’s most valuable startups.

The company has since raised additional funding and continues to expand its services, including “Send by Flutterwave,” a remittance product that allows people to send money easily from abroad to Africa.

Despite its success, Flutterwave has faced challenges, including regulatory scrutiny and competition from other fintechs like Paystack, OPay, and Interswitch.

However, its strong leadership, advanced technology, and compliance with financial regulations have helped it maintain credibility and resilience in a rapidly evolving sector.

Beyond business, Flutterwave has also contributed to Nigeria’s tech ecosystem through job creation, innovation, and corporate social responsibility. The company supports small businesses through initiatives like Flutterwave Store, a platform that helps entrepreneurs build online shops and accept payments effortlessly.

In summary, Flutterwave is a Nigerian company that has become a continental and global leader in fintech.

Founded and led by Nigerians, it continues to represent Africa’s growing influence in technology and finance. Its success story serves as proof that Nigerian innovation can compete — and thrive — on the world stage.

Who owns FairMoney?

FairMoney is owned by FairMoney Microfinance Bank Limited, a Nigerian-licensed financial institution under the parent company FairMoney SAS, headquartered in Paris, France.

The company was founded in 2017 by Laurin Hainy (CEO), Matthieu Gendreau (COO), and Nicolas Berthozat (CTO).

These founders, who have backgrounds in finance and technology, built FairMoney with a vision to make credit and banking services accessible to people in emerging markets, starting with Nigeria.

FairMoney began as a digital lending platform, providing instant loans to individuals through its mobile app using artificial intelligence and alternative credit scoring models.

The app analyzes data such as smartphone usage, transaction history, and bill payment behavior to determine users’ creditworthiness. This innovation allowed Nigerians who lacked formal banking records or collateral to access loans conveniently.

As the platform grew, FairMoney expanded its services beyond lending. In 2021, it obtained a Microfinance Bank license from the Central Bank of Nigeria (CBN), allowing it to operate as a full digital bank.

Today, FairMoney offers savings, bill payments, debit cards, and money transfers — positioning itself as one of Nigeria’s leading neobanks. The platform now serves over 5 million users and disburses millions of loans monthly.

Ownership-wise, FairMoney is primarily venture capital-backed. It has received funding from top investors like Tiger Global Management, DST Global, Flourish Ventures, and Speedinvest.

These investors collectively hold significant stakes in the company. In total, FairMoney has raised over $50 million in funding to support its expansion in Africa and Asia, including into India.

Although FairMoney operates in Nigeria, its holding company and strategic management are based in France, while the Nigerian subsidiary manages operations locally.

The founders continue to play active roles in the company’s global strategy, focusing on using data-driven technology to provide inclusive financial services to underserved communities.

In summary, FairMoney is owned by FairMoney SAS (France) and its founders, supported by international venture capital investors. It operates in Nigeria under FairMoney Microfinance Bank, fully licensed by the CBN.

Its ownership and leadership model reflect a blend of European innovation and African financial inclusion, making it a truly global fintech enterprise with Nigerian roots.

Who owns SportyBet?

SportyBet is owned by Sporty Group, a global technology and entertainment company that operates in several African countries and parts of Asia. The company was founded by Sudeep Dalamal Ramnani, a British entrepreneur of Indian descent, who serves as the founder and CEO.

Under his leadership, Sporty Group has developed into one of Africa’s leading sports betting and digital entertainment brands, with SportyBet as its flagship product.

SportyBet launched in Nigeria in 2018, quickly gaining massive popularity due to its user-friendly interface, fast payout system, and wide range of betting options.

It operates legally under a license from the National Lottery Regulatory Commission (NLRC) in Nigeria and state-level regulators, ensuring compliance with national gaming laws.

The platform allows users to bet on football, basketball, tennis, virtual games, and more, with competitive odds and live in-play betting features.

Sporty Group, the parent company, is privately held and headquartered in London, United Kingdom, though it maintains operational offices in Lagos, Nairobi, and Accra.

The company has expanded its footprint beyond Nigeria to include Ghana, Kenya, Uganda, and Zambia, making it a pan-African brand. SportyBet’s growth is supported by cutting-edge technology, with an app optimized for mobile performance and low data usage — essential in markets with unstable internet access.

Under Ramnani’s leadership, Sporty Group also owns Sporty.com, a global sports community and technology platform. This diversification helps the company maintain relevance across both gaming and sports content markets.

SportyBet’s brand identity is further strengthened by partnerships with football icons such as Michael Essien and John Obi Mikel, which enhance its credibility and appeal among African sports fans.

Although the company keeps its financial details private, Sporty Group has grown into one of Africa’s most profitable online gaming enterprises, rivaling platforms like Bet9ja and BetKing. Its unique combination of entertainment, technology, and localized marketing has made SportyBet a household name.

In conclusion, SportyBet is owned by Sporty Group, founded and led by Sudeep Ramnani. With headquarters in the UK and operations across Africa, SportyBet exemplifies how global entrepreneurship and technology can successfully tap into Africa’s vibrant sports and gaming culture.

Are they using OPay in the USA?

No, OPay is currently not available or operational in the United States. The platform was designed primarily for the African market, particularly Nigeria and other developing regions, where financial inclusion and cashless payments are still growing.

While OPay has become a household name in Nigeria and expanded into a few other African countries, it does not operate in the U.S. financial system or provide services to American residents.

OPay’s focus has always been to solve local financial challenges — such as limited banking access, poor infrastructure, and high transaction costs — which are less prominent in the U.S. economy.

The United States already has a highly developed fintech ecosystem with platforms like PayPal, Venmo, Cash App, and Zelle dominating digital payments. These services fulfill similar roles to OPay but are tailored to the U.S. regulatory and banking environment.

Additionally, OPay’s licensing and regulatory framework is specific to Nigeria. It operates under the Central Bank of Nigeria (CBN) as a mobile money operator and payment service provider.

For OPay to operate in the U.S., it would need to acquire licenses from American financial regulators such as the Federal Reserve, Office of the Comptroller of the Currency (OCC), and FinCEN (Financial Crimes Enforcement Network) — a process that is both expensive and complex.

However, OPay’s international investors, including SoftBank and Sequoia Capital China, have global ambitions for the brand. There have been discussions about possible future expansion beyond Africa, but as of now, there are no confirmed plans for OPay to launch in the United States.

The company continues to prioritize its core markets — Nigeria, Egypt, and possibly Kenya — where financial inclusion gaps offer greater opportunities for growth.

In short, OPay is not used in the USA, and no official operations exist there. While U.S. residents can learn about the platform, they cannot open OPay accounts, access its wallet services, or use its app for financial transactions.

OPay’s mission remains focused on Africa’s digital economy, where its technology continues to make the greatest impact.

Which Big 4 is hardest to get into?

Among the Big 4 accounting and consulting firms — Deloitte, PricewaterhouseCoopers (PwC), KPMG, and Ernst & Young (EY) — the one considered hardest to get into often depends on location, competition, and hiring policies.

However, on a global and Nigerian scale, PwC is widely regarded as the most competitive and hardest firm to join.

PwC Nigeria attracts a massive number of applicants annually due to its strong reputation, high salary packages, and prestigious client portfolio.

The firm is known for its rigorous recruitment process, which includes multiple stages such as online aptitude tests, psychometric evaluations, case studies, interviews, and group exercises. Candidates are assessed not only for technical skills but also for analytical thinking, communication, leadership, and cultural fit.

Several factors make PwC the toughest among the Big 4 to enter:

1. Prestige and Reputation: PwC is ranked globally as one of the top professional services firms. Its name carries weight in accounting, tax, audit, and advisory circles, making it highly sought after by graduates and professionals.

2. Client Portfolio: The firm handles top-tier clients, including multinational corporations, financial institutions, and government agencies, which demands only the best talent.

3. High Standards: PwC maintains strict academic and professional requirements. In Nigeria, candidates typically need a minimum of a second-class upper degree, strong ICAN or ACCA qualifications, and excellent soft skills.

4. Global Mobility: PwC offers employees the chance to work abroad through internal transfers, making it even more attractive — and therefore more competitive.

That said, Deloitte and EY are also extremely selective, particularly for consulting and technology roles.

Deloitte’s technology and risk advisory divisions are highly competitive, while EY emphasizes leadership potential and innovation in its recruitment approach.

KPMG, though slightly more accessible, also maintains a high hiring standard and is known for its structured graduate trainee programs.

In Nigeria, PwC remains the hardest to get into due to its brand dominance, elite client base, and reputation for grooming global business leaders. Successful candidates usually possess strong academic backgrounds, professional certifications, and demonstrated analytical and interpersonal skills.

Which firm is the richest in Nigeria?

As of 2025, the richest company in Nigeria is Dangote Group, a diversified multinational conglomerate founded and owned by Aliko Dangote, Africa’s richest man.

The group dominates several industries, including cement, sugar, salt, flour, and most recently, oil refining. With estimated assets exceeding $25 billion, Dangote Group’s vast operations and impact make it the wealthiest and most influential company in Nigeria.

The group’s flagship subsidiary, Dangote Cement Plc, is listed on the Nigerian Exchange Group (NGX) and accounts for a significant portion of Nigeria’s stock market capitalization.

It is Africa’s largest cement producer, with operations in over 10 countries and an annual production capacity of more than 50 million metric tons. Dangote Cement alone generates billions of dollars in revenue annually, contributing substantially to the group’s wealth.

In addition to cement, Dangote Sugar Refinery and NASCON Allied Industries (which produces salt and seasoning) are also listed companies under the group, further strengthening its financial position.

However, the most ambitious and wealth-defining project is the Dangote Petroleum Refinery, located in Lekki, Lagos. Valued at over $20 billion, it is the largest single-train oil refinery in the world, capable of refining 650,000 barrels per day.

When fully operational, it is expected to transform Nigeria into a net exporter of refined petroleum products, drastically reducing fuel import dependency.

Dangote Group’s wealth is not only reflected in its assets but also in its contribution to Nigeria’s GDP and employment. The company employs tens of thousands of Nigerians and supports local manufacturing and industrialization, making it a central force in the nation’s economy.

Its financial stability and scale of operations place it far ahead of other major Nigerian corporations such as MTN Nigeria, Airtel Africa, and BUA Group.

In conclusion, Dangote Group is the richest firm in Nigeria, with an expansive portfolio that spans manufacturing, energy, and agriculture.

Its founder’s vision of self-sufficiency and industrial dominance has turned it into Africa’s most valuable conglomerate, symbolizing Nigeria’s potential for large-scale industrial transformation.

Who is the youngest ICAN holder in Nigeria?

The youngest ICAN holder in Nigeria is Faith Odunsi, a brilliant young student who made headlines for achieving remarkable academic milestones at a very young age.

Faith became the youngest person to pass all the examinations of the Institute of Chartered Accountants of Nigeria (ICAN), earning her place in the country’s record books as a prodigy in accounting and mathematics.

Faith Odunsi, who hails from Ogun State, Nigeria, gained national attention not only for her ICAN achievement but also for her exceptional performance in mathematics competitions.

She represented Nigeria in various international contests, including the Cowbellpedia Mathematics Competition, where she emerged as the overall winner in 2018. Her outstanding mathematical ability laid the foundation for her success in the ICAN exams, which many adults find challenging.

ICAN, founded in 1965, is Nigeria’s most respected accounting body and one of the toughest professional institutions in Africa.

To become a chartered accountant, candidates must pass several rigorous stages — Foundation, Skills, and Professional — which test their mastery of accounting, auditing, taxation, management, and financial reporting.

Passing these stages at a young age demonstrates not only intelligence but also discipline, focus, and hard work.

Faith’s achievement has inspired countless young Nigerians, proving that age should not be a barrier to professional excellence. Her success also highlights the importance of early exposure to quality education and mentorship.

Many Nigerian schools have since started encouraging students to enroll early for professional qualifications such as ICAN, ACCA, and CIS.

Although Faith Odunsi’s record is the most widely recognized, Nigeria has produced several other young ICAN achievers, including Joshua Agboola and Oluwatobiloba Adejumo, who also passed ICAN examinations before the age of 20.

This new generation of young accountants shows how technology and modern learning systems are reshaping education in Nigeria.

In summary, Faith Odunsi is celebrated as the youngest ICAN holder in Nigeria, a title she earned through extraordinary intelligence and determination.

Her success represents a beacon of hope for Nigerian youths, demonstrating that academic excellence and professional accomplishment are achievable regardless of age when one is passionate, disciplined, and focused on personal growth.

Is PiggyVest a fintech?

Yes, PiggyVest is a fintech company, and one of the most successful digital financial platforms in Nigeria. It is designed to help individuals save, invest, and manage their money easily through technology.

The company was founded in 2016 by Joshua Chibueze, Odunayo Eweniyi, Somto Ifezue, and Ayo Akinola, who shared a vision of promoting financial discipline among young Nigerians through automation and innovation.

Initially launched as PiggyBank.ng, the platform started as a simple savings app inspired by the idea of the traditional piggy bank, where users could deposit small amounts of money regularly.

The founders noticed that many Nigerians struggled to save consistently, especially in an economy where financial literacy was low and access to traditional banking services was often limited. PiggyVest solved this problem by using digital technology to make saving simple, flexible, and rewarding.

In 2019, PiggyBank.ng rebranded to PiggyVest, expanding its offerings from just savings to include investment opportunities.

Users could now invest in pre-vetted businesses and projects through features like Investify, which allows for safe, high-yield investments in sectors such as agriculture, real estate, and transportation.

This move officially positioned PiggyVest as a comprehensive financial technology (fintech) company, not just a savings app.

PiggyVest operates under the license of a microfinance bank and partners with regulated financial institutions like VFD Microfinance Bank to ensure users’ funds are secure.

The company’s system is protected with bank-grade security encryption, and all deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC), giving users confidence in its reliability.

Today, PiggyVest has over 4 million users and has helped Nigerians save and invest billions of naira. It offers features such as SafeLock, Target Savings, Flex Dollar, and Flex Naira, allowing users to set financial goals, save in dollars, or lock funds for a specific period.

Its simple interface and transparency have earned it the trust of millions of users, especially among millennials and Gen Zs.

In essence, PiggyVest is a fintech company focused on financial inclusion and digital savings.

It leverages technology to encourage responsible money management, making it a pioneer in Nigeria’s growing fintech industry. Through innovation, PiggyVest continues to transform how Nigerians save, invest, and build wealth digitally.

Is Paystack better than Flutterwave?

The question of whether Paystack is better than Flutterwave often depends on the specific needs of a business or individual. Both are leading Nigerian fintech companies that provide payment processing solutions for businesses across Africa.

While they serve similar purposes, each has unique strengths that make it more suitable for certain users or situations.

Paystack, founded in 2015 by Shola Akinlade and Ezra Olubi, focuses primarily on simplifying online payments for small and medium-sized businesses (SMEs).

It allows merchants to accept payments through multiple channels — debit cards, bank transfers, and USSD codes — seamlessly integrated into websites or mobile apps. Paystack’s key advantage lies in its simplicity, speed, and developer-friendly API, which makes integration quick and easy for businesses of all sizes.

On the other hand, Flutterwave, founded in 2016 by Olugbenga “GB” Agboola and Iyinoluwa Aboyeji, is a broader payment infrastructure company that targets both local and international markets.

Flutterwave offers more advanced enterprise solutions, enabling global companies to process payments across multiple currencies and countries. Its popular product, Rave, supports over 30 currencies and integrates with global giants like PayPal and Visa.

In terms of reach, Flutterwave is ahead. It operates in over 30 African countries and partners with international firms such as Amazon, Uber, and Meta.

Paystack, while initially more localized, was acquired by Stripe (a U.S. fintech giant) in 2020 for $200 million, which significantly boosted its global presence. Since then, Paystack has expanded into South Africa and Ghana, signaling steady growth beyond Nigeria.

When comparing features:

• Paystack excels in user experience, easy onboarding, and reliability for SMEs.

• Flutterwave excels in scalability, cross-border payments, and enterprise-grade solutions.

• Paystack’s customer service is known for speed and accessibility, while Flutterwave offers broader integration for large corporations.

In conclusion, neither is strictly “better”; it depends on what you need. For small businesses seeking simplicity and local payments, Paystack is ideal.

For large corporations and international transactions, Flutterwave offers more robust options. Both have transformed Nigeria’s fintech ecosystem and are driving Africa’s transition to a cashless, digital economy.

Who owns Paystack?

Paystack is owned by Stripe Inc., a global financial technology company based in San Francisco, USA. Stripe acquired Paystack in October 2020 in a landmark deal valued at over $200 million, marking one of the largest acquisitions in African tech history.

Before the acquisition, Paystack was founded in 2015 by two Nigerians — Shola Akinlade (CEO) and Ezra Olubi (CTO). The company was created to simplify online and offline payments for African businesses, enabling merchants to accept payments via debit cards, bank transfers, and mobile money.

The acquisition by Stripe was not just a business move; it was a strategic partnership. Stripe saw enormous potential in Africa’s fintech market and viewed Paystack as a gateway to the continent.

With the acquisition, Stripe gained full ownership, while Paystack retained its brand, leadership, and operational independence. This allowed Paystack to continue innovating locally while leveraging Stripe’s global expertise and resources.

Even after the acquisition, Shola Akinlade and Ezra Olubi remain at the helm of Paystack’s leadership. They continue to oversee operations across Nigeria, Ghana, and South Africa, with expansion plans into other African markets.

Today, Paystack processes billions of naira in payments monthly and supports thousands of merchants, including major brands like MTN, Domino’s Pizza, and AXA Mansard. Its success has made it a symbol of African innovation and entrepreneurship.

In summary, Paystack is owned by Stripe Inc., but it was founded and continues to be led by Nigerians Shola Akinlade and Ezra Olubi, who built it into one of Africa’s most trusted payment platforms. The acquisition stands as a milestone for African startups entering the global fintech space.

Who owns PalmPay?

PalmPay is owned by Transsnet Group, a joint venture between Transsion Holdings (the Chinese parent company of mobile brands like Tecno, Infinix, and Itel) and NetEase, a major Chinese internet technology company.

The partnership was established to create a powerful digital financial ecosystem in Africa, starting with Nigeria as its launch base.

PalmPay was officially launched in 2019 after receiving a Mobile Money Operator license from the Central Bank of Nigeria (CBN). Since then, it has become one of Nigeria’s fastest-growing fintech companies, focusing on mobile payments, money transfers, and digital financial services.

The ownership by Transsion Holdings gives PalmPay a strategic advantage because Tecno, Infinix, and Itel smartphones — some of Africa’s most popular brands — come preinstalled with the PalmPay app. This gives the company immediate access to millions of potential users across the continent.

PalmPay’s co-founders include Chika Nwosu, who serves as the Managing Director of PalmPay Nigeria, and a team of global fintech experts. The company has raised significant funding, including a $100 million investment led by Chinese venture capital firms and international investors.

The platform allows users to make payments, send and receive money, buy airtime, pay bills, and earn rewards through cashback systems. PalmPay’s mission is to promote financial inclusion by providing affordable and accessible financial services to the unbanked and underbanked populations in Africa.

In summary, PalmPay is owned by Transsnet Group, a partnership between Transsion Holdings and NetEase, with major operations in Nigeria. Through innovative technology, strong smartphone integration, and global funding, PalmPay has positioned itself as one of Africa’s leading digital payment platforms.

Who is the highest paid CEO in Nigeria?

As of 2025, the highest-paid CEO in Nigeria is Karl Toriola, the Chief Executive Officer (CEO) of MTN Nigeria Communications Plc, the country’s largest telecommunications company.

Karl Toriola’s compensation package places him at the top of the executive earnings chart, with an estimated annual salary and benefits exceeding ₦850 million. This includes base salary, performance bonuses, stock options, and other incentives tied to MTN Nigeria’s strong financial performance.

Karl Toriola, who assumed office as CEO in March 2021, has over two decades of experience in the telecommunications industry.

Before becoming MTN Nigeria’s chief executive, he served as the Vice President for MTN West and Central Africa (WECA), where he oversaw operations in several countries.

His leadership expertise and deep understanding of the telecom sector have significantly contributed to MTN’s sustained market dominance and profitability in Nigeria.

MTN Nigeria is one of the most valuable companies listed on the Nigerian Exchange Group (NGX), with revenues surpassing ₦2 trillion annually.

Its vast subscriber base — over 80 million customers — and diverse service offerings, including voice, data, fintech (MoMo Payment Service Bank), and enterprise solutions, make it the undisputed leader in Nigeria’s telecommunications industry. The company’s strong financial results justify its CEO’s high earnings.

Apart from Karl Toriola, other highly paid Nigerian CEOs include:

• Segun Agbaje, CEO of Guaranty Trust Holding Company (GTCO), with annual earnings reportedly around ₦450–₦500 million, driven by the group’s strong banking and financial services performance.

• Michel Puchercos (former CEO of Dangote Cement) also ranked among the top-paid executives, with annual compensation exceeding ₦400 million before his retirement.

• Austin Avuru, former CEO of Seplat Energy Plc, and Wigwe Herbert (late CEO of Access Holdings Plc), were also among the highest earners due to their companies’ strong profitability and shareholder value creation.

In the Nigerian business ecosystem, CEO compensation is influenced by several factors, including company size, revenue, international affiliation, and stock performance. Multinationals and publicly listed firms often pay more than indigenous companies due to global benchmarking and performance-based incentives.

Karl Toriola’s pay package reflects MTN’s global structure, where executive compensation aligns with international telecom standards.

His leadership has seen MTN expand digital services, launch 5G, and strengthen its fintech arm — achievements that have significantly boosted the company’s value and shareholder confidence.

In summary, Karl Toriola of MTN Nigeria is the highest-paid CEO in Nigeria, with compensation reflecting his leadership impact on one of Africa’s largest telecom companies.

His success underscores how innovation, performance, and strategic leadership define corporate excellence and reward in Nigeria’s evolving business landscape.

Is FairMoney a fintech?

Yes, FairMoney is a fintech company — specifically a digital bank and lending platform that leverages technology to provide financial services to individuals and small businesses in Nigeria and other emerging markets.

Founded in 2017 by Laurin Hainy, Matthieu Gendreau, and Nicolas Berthozat, FairMoney began as an online micro-lending application but has since evolved into a fully licensed digital bank offering a broad range of services such as savings, payments, and investments.

The company’s core mission is to make financial services accessible and inclusive for everyone, especially those who are underserved by traditional banks.

FairMoney uses artificial intelligence (AI) and machine learning to evaluate creditworthiness by analyzing alternative data points such as mobile phone usage, utility payments, and transaction history.

This approach allows it to grant loans to people who might otherwise be denied access by traditional banking institutions due to a lack of collateral or formal credit history.

FairMoney operates under the license of FairMoney Microfinance Bank Limited, regulated by the Central Bank of Nigeria (CBN). Its services include:

• Instant personal and business loans with flexible repayment terms.

• Savings accounts with competitive interest rates.

• Bill payments and mobile airtime top-ups.

• Debit cards and money transfer services that enable seamless digital transactions.

As of 2025, FairMoney serves over 5 million users and processes millions of loan applications monthly. The platform’s success is driven by its simplicity, speed, and commitment to customer satisfaction.

Users can download the app, register, and access financial products without visiting any physical branch — a major convenience in today’s fast-paced, digital-first economy.

FairMoney has also attracted significant venture capital investment from global firms such as Tiger Global Management, DST Global, and Flourish Ventures, which has helped it expand operations beyond Nigeria to countries like India.

This international presence underscores its reputation as a global fintech player originating from Africa.

Furthermore, FairMoney’s focus on financial inclusion aligns with Nigeria’s digital transformation goals. By reducing the barriers to accessing credit and savings, it empowers individuals and entrepreneurs, boosting small business growth and contributing to economic development.

In conclusion, FairMoney is a fintech company because it integrates finance and technology to deliver banking, lending, and savings solutions digitally.

Its innovation-driven approach, AI-powered credit system, and customer-centric design make it a trailblazer in Africa’s growing fintech landscape, bridging the gap between technology and inclusive financial empowerment.

Who owns Bet9ja?

Bet9ja is owned by KC Gaming Networks Limited, a Nigerian sports betting company that operates under a license from the National Lottery Regulatory Commission (NLRC).

The company was co-founded by Ayo Ojuroye and Kunle Soname, two visionary entrepreneurs who saw the potential of online sports betting in Nigeria’s rapidly growing entertainment and digital economy.

Kunle Soname, a prominent businessman, is often recognized as the face of Bet9ja. He serves as the Chairman of KC Gaming Networks and has played a major role in developing the brand into Nigeria’s most popular betting platform.

Soname is also the owner of Remo Stars Football Club, based in Ogun State, and the first Nigerian to own a European football club — CD Feirense, a Portuguese team. His deep involvement in sports and business gave Bet9ja a unique foundation built on credibility and passion for football.

Ayo Ojuroye, the company’s co-founder and CEO, has been instrumental in Bet9ja’s day-to-day operations, ensuring innovation, compliance, and customer satisfaction.

Under his leadership, Bet9ja became one of the first Nigerian betting companies to introduce a fully functional online platform with real-time odds, virtual games, and live betting options.

Launched in 2013, Bet9ja quickly rose to prominence through aggressive marketing, reliable payouts, and a strong network of physical outlets across Nigeria. Its slogan, “Bet9ja… Naija for Life!,” resonates deeply with Nigerian bettors, symbolizing local ownership and national pride.

The brand’s major breakthrough came when it became the official sponsor of Big Brother Naija Season 4, a move that skyrocketed its popularity among millions of Nigerians.

Although Bet9ja is a Nigerian company, it uses cutting-edge technology supported by Betradar, an international betting solutions provider based in Switzerland. This partnership ensures transparency, accuracy, and fairness in its operations.

Today, Bet9ja is not only a betting company but also a multi-billion-naira enterprise employing thousands of Nigerians across its branches and tech divisions. The company’s impact extends beyond gaming; it supports community development and sports sponsorship initiatives.

In summary, Bet9ja is owned by KC Gaming Networks Limited, co-founded by Kunle Soname and Ayo Ojuroye. Together, they built a Nigerian brand that transformed the nation’s sports betting industry into one of Africa’s most dynamic entertainment sectors.

Has anyone won 60 million on SportyBet?

As of 2025, no verified record confirms that anyone has officially won ₦60 million on SportyBet, although numerous users have won millions of naira through large accumulator bets and jackpot combinations.

SportyBet, operated by Sporty Group, is one of Nigeria’s leading sports betting platforms, and it has produced several big winners over the years — but the exact figure of ₦60 million has not been publicly documented by the company or credible media sources.

That said, it’s not impossible. SportyBet’s platform allows high-stake accumulators where players can combine multiple matches (sometimes over 30) for potential multi-million payouts.

A single ₦100 or ₦500 stake can theoretically yield over ₦50 million in winnings if every selection wins. However, achieving such results is rare due to the statistical improbability of all games aligning perfectly.

SportyBet occasionally shares stories of winners through its official website and verified social media accounts.

Most recorded big wins range between ₦5 million and ₦40 million, typically earned by players who place long-odds bets on football matches across the Premier League, La Liga, or the UEFA Champions League.

It’s also worth noting that some users claim to have won over ₦60 million, but these claims are often unverified. Without confirmation from SportyBet’s official communication channels or the National Lottery Regulatory Commission (NLRC), such reports remain anecdotal.

SportyBet’s system ensures transparency by displaying bet slips, odds, and transaction history, so any massive win would likely become public knowledge, much like how Bet9ja’s big winners are frequently celebrated online.

While there might not be a confirmed ₦60 million winner yet, there are documented cases of smaller but still substantial payouts.

For example, in 2023, several Nigerian punters shared verified screenshots showing winnings between ₦15 million and ₦30 million, proving that SportyBet does pay large sums to successful bettors.

In conclusion, although no officially verified individual has publicly won exactly ₦60 million on SportyBet, the platform’s payout system and high-odds betting structure make such a win theoretically possible.

Until officially confirmed, the ₦60 million win remains an exciting but unverified claim in Nigeria’s sports betting circles.

How much has Drake lost in gambling?

Canadian rapper Drake, known for his extravagant lifestyle and love of sports betting, has reportedly lost over $1 billion in bets through his association with Stake.com, a global cryptocurrency-based betting platform.

While the exact figure fluctuates due to ongoing wagers, estimates from entertainment and betting reports suggest that Drake has lost hundreds of millions of dollars, possibly exceeding $500 million, in sports betting alone.

Drake’s gambling journey became public when he partnered with Stake.com in 2022. He began streaming live betting sessions, famously called “Stake Drakes”, where he wagered enormous sums on mixed martial arts (UFC), basketball (NBA), American football (NFL), and even roulette games.

His bets are often placed in Bitcoin (BTC), making the exact cash value subject to cryptocurrency price fluctuations.

Some of his biggest losses include:

• A $400,000 UFC bet on Jorge Masvidal, who lost the match.

• A $275,000 bet on Charles Leclerc to win a Formula 1 race, which he lost.

• Over $2 million in combined bets during the 2022 Super Bowl, where his team picks failed to deliver.

• Several roulette spins in which he lost hundreds of thousands of dollars in a single session.

However, Drake has also had major wins, including a reported $25 million roulette victory and a $2.6 million UFC win, which he shared online. Despite these wins, the overall balance tilts heavily toward losses, considering the sheer volume and frequency of his bets.

Drake’s gambling is more of a lifestyle statement than a financial necessity. With a net worth exceeding $250 million, his partnership with Stake.com also includes promotional earnings, meaning not all the money he “loses” comes directly from his personal fortune — some of it is sponsored.

Critics argue that Drake’s gambling streams glamorize risky behavior, especially for younger audiences. Nonetheless, his activities have undeniably brought massive publicity to Stake.com and the crypto betting industry.

In summary, Drake has likely lost between $500 million and $1 billion in gambling, mainly through high-stakes bets placed on Stake.com. Despite the staggering numbers, his wealth, sponsorship deals, and celebrity status make it a lifestyle hobby rather than a financial crisis.

Can you make $500,000 a year as an accountant?

Yes, it is possible to make $500,000 a year as an accountant, but it requires senior-level experience, specialization, and often ownership or partnership in a firm.

While most accountants start with modest salaries, top professionals in executive roles, consulting, or finance management can reach or exceed the half-million-dollar mark annually.

To reach that level, an accountant must go beyond routine bookkeeping or audit work. High-earning accountants usually operate as Chief Financial Officers (CFOs), finance directors, partners in Big 4 firms, or independent consultants serving multinational clients.

For instance:

• CFOs in large corporations (especially in industries like oil & gas, banking, and tech) can earn between $400,000 and $1 million per year in total compensation, including bonuses and stock options.

• Big 4 partners (Deloitte, PwC, EY, KPMG) earn between $300,000 and $800,000 annually, depending on seniority, firm size, and regional profitability.

• Forensic accounting experts, tax strategists, or M&A consultants with high-profile clients can also command fees that push annual income above $500,000.

In contrast, entry-level or mid-level accountants typically earn between $60,000 and $120,000 per year in developed economies like the U.S., Canada, and the UK. Therefore, reaching $500,000 requires years of experience, advanced certifications (such as CPA, CFA, or MBA), and a proven record of delivering financial value.

Independent accountants can also hit this income level by building a successful private practice. By managing multiple corporate accounts, offering tax planning, and expanding into financial advisory, a skilled accountant can earn millions annually, especially if their firm grows regionally.

In short, yes, accountants can make $500,000 a year, but it demands more than technical skills — it requires leadership, specialization, business ownership, and strategic thinking.

The path is long, but the rewards are attainable for those who combine professional expertise with entrepreneurship and financial insight.

What GPA is needed for Big 4?

To secure a job in one of the Big 4 accounting firms — Deloitte, PwC, KPMG, or EY — candidates typically need a minimum GPA of 3.5 out of 4.0 (or its equivalent, a Second Class Upper Division / 2:1 in Nigeria).

However, top-performing firms often prefer applicants with GPAs of 3.7 and above, especially for competitive positions like audit, advisory, or consulting.

In Nigeria and most countries, GPA acts as a filter in the initial recruitment stage. The Big 4 receive tens of thousands of applications yearly, so GPA helps shortlist candidates before the aptitude tests, assessments, and interviews.

A high GPA reflects discipline, consistency, and the ability to perform under pressure — traits highly valued in professional services.

While GPA is important, it is not the only factor. Big 4 firms also consider:

• Leadership experience (e.g., student associations, community service, entrepreneurship)

• Professional certifications (ICAN, ACCA, or CPA)

• Analytical and communication skills

• Internships or industrial training experience in finance, audit, or business.

In Nigeria, the Big 4 generally require at least a 2:1 (Upper Credit) and credit-level passes in English and Mathematics. Candidates with a 2:2 (Lower Division) can still apply if they have strong professional qualifications or exceptional experience.

Globally, competition is fierce. For graduate positions in the U.S. or UK, candidates from top universities with GPAs above 3.6 are more likely to be invited for interviews. However, once inside the firm, performance, attitude, and skill development matter far more than GPA.

In conclusion, while GPA is a vital entry requirement for the Big 4 firms, it is only one part of a broader evaluation process.

A GPA of 3.5+ (or 2:1) provides a strong foundation, but combining it with professional growth, leadership experience, and problem-solving ability greatly enhances your chances of landing and excelling in a Big 4 career.

Who is the smallest of the Big 4?

The Big 4 accounting firms — Deloitte, PwC (PricewaterhouseCoopers), EY (Ernst & Young), and KPMG — dominate the global professional services industry.

Among them, KPMG is generally considered the smallest in terms of global revenue and workforce size. Despite being part of the elite group, KPMG’s total earnings and client base are slightly below those of its peers.

In recent global rankings, Deloitte consistently leads as the largest, followed by PwC, EY, and then KPMG in fourth place. For example, in 2024, Deloitte’s global revenue exceeded $65 billion, PwC generated about $53 billion, EY earned around $49 billion, and KPMG followed with approximately $38 billion.

This financial difference, though significant, doesn’t diminish KPMG’s global influence or reputation — it remains a world-class firm providing auditing, tax, and advisory services to top organizations.

The reason KPMG is smaller stems from several factors:

1. Geographical Reach – KPMG operates in fewer countries than Deloitte and PwC, which have larger client footprints in emerging markets like Asia and Africa.

2. Service Diversification – While Deloitte and EY have expanded aggressively into consulting and technology advisory, KPMG remains more focused on audit and tax services, which traditionally generate lower profit margins.

3. Market Positioning – KPMG emphasizes risk management, financial services, and compliance rather than large-scale digital transformation projects that generate high revenue for competitors.

In Nigeria and other African nations, KPMG is still highly respected. The firm’s Nigerian branch is known for its rigorous recruitment process, training programs, and ethical standards. Many leading professionals in Nigeria’s finance and public sectors began their careers at KPMG.

However, being the smallest doesn’t mean being the weakest. KPMG’s reputation for integrity and precision makes it a preferred choice for clients who value quality over scale. Its smaller size often allows for more personalized client relationships and stronger internal collaboration.

In conclusion, KPMG is the smallest of the Big 4 by global revenue, but it remains a powerhouse of expertise, respected for its professionalism, ethics, and global consistency.

It continues to thrive by focusing on innovation, trust, and excellence in every engagement, proving that being smaller doesn’t equate to being less significant.

Who is the 9-year-old billionaire in Nigeria?

As of recent public information, there is no verified 9-year-old billionaire in Nigeria. While social media often circulates claims about extremely young “billionaires,” most of these stories are misleading or exaggerated.

Nigeria has many talented and wealthy young individuals, but none aged nine has been officially recognized as a billionaire by credible financial institutions or media outlets such as Forbes, BusinessDay, or Bloomberg Africa.

The rumor of a 9-year-old billionaire gained traction in past years, often linked to viral posts about Mompha Junior (Muhammad Awal Mustapha), a young boy widely believed to be one of the richest kids in Nigeria.

He is the son of Ismaila Mustapha, popularly known as Mompha, a Dubai-based businessman involved in luxury trading and foreign exchange.

Mompha Junior became famous for his lavish lifestyle — luxury cars, designer clothes, and private jets — all documented on social media. However, it’s crucial to understand that the wealth does not belong directly to him, but to his father. He is not a “self-made” billionaire; instead, he is wealthy by association.

In Nigeria’s business and entertainment sectors, there are young millionaires, such as teen tech entrepreneurs, entertainers, and influencers, but none at age nine have independently amassed a billion-naira or billion-dollar fortune.

Nigerian law also restricts minors from holding business licenses or owning property directly, meaning any such wealth must be held in trust by a guardian.

The idea of a 9-year-old billionaire is more symbolic than factual — representing privilege rather than entrepreneurship. Real billionaires in Nigeria, such as Aliko Dangote, Abdulsamad Rabiu, and Mike Adenuga, built their wealth over decades through hard work, innovation, and large-scale investments.

In summary, there is no confirmed 9-year-old billionaire in Nigeria. The viral stories surrounding “Mompha Junior” reflect inherited luxury rather than self-made wealth.

While Nigeria continues to produce young success stories in tech, fashion, and entertainment, genuine billionaire status requires years of entrepreneurship, not childhood fame.

Is ICAN better than ACCA?

The Institute of Chartered Accountants of Nigeria (ICAN) and the Association of Chartered Certified Accountants (ACCA) are two of the most respected accounting bodies in the world, and each has its strengths.

Deciding which is “better” depends on a person’s career goals, location, and professional ambitions.

ICAN is Nigeria’s primary accounting body, established in 1965 to regulate and develop the accounting profession within the country. It is widely recognized by Nigerian employers, government agencies, and banks.

Holding an ICAN qualification provides strong credibility within Nigeria and West Africa. It is ideal for professionals who wish to build a career in local accounting, auditing, taxation, or financial management.

ACCA, on the other hand, is an international certification founded in the United Kingdom. It is recognized in over 180 countries, making it the preferred option for those seeking global mobility.

ACCA-qualified accountants can work across Europe, Asia, Africa, and North America. The syllabus also focuses heavily on international financial reporting standards (IFRS), which are globally accepted.

When comparing difficulty and recognition:

• ICAN is more focused on Nigerian laws, taxation systems, and business practices. It is easier to complete for candidates trained in the Nigerian context.

• ACCA has a broader and more complex curriculum that includes global accounting standards, corporate governance, and strategic business leadership. It typically takes longer and costs more.

In terms of career advantage, ICAN holders dominate Nigeria’s job market — most CFOs, auditors, and senior accountants in Nigeria are chartered through ICAN. However, ACCA provides greater flexibility for those seeking international roles.

Interestingly, many Nigerian professionals choose to combine both qualifications. They start with ICAN for local recognition and later obtain ACCA to boost international credibility.

In conclusion, neither ICAN nor ACCA is absolutely better — ICAN is best for Nigeria-based careers, while ACCA is ideal for global opportunities. The most strategic approach is to pursue both for maximum professional advantage.

Who is the father of ICAN?

The Institute of Chartered Accountants of Nigeria (ICAN), founded in 1965, does not have a single “father,” but its creation is largely credited to Chief Akintola Williams, Nigeria’s first indigenous chartered accountant.

He is often referred to as the Father of Accountancy in Nigeria for his pioneering role in establishing the profession and mentoring generations of accountants.

Chief Williams was born on August 9, 1919, and became the first Nigerian to qualify as a chartered accountant in 1949 after training in the United Kingdom.

Upon returning home, he founded Akintola Williams & Co., Nigeria’s first indigenous accounting firm. His vision was to ensure that Nigerians could train, certify, and practice accountancy locally rather than depending on foreign institutions.

Under his leadership and collaboration with other professionals, ICAN was established to set ethical standards, regulate accounting practices, and examine aspiring accountants.

The body was legally recognized through the Act of Parliament No. 15 of 1965, which gave it authority to conduct professional exams and certify chartered accountants in Nigeria.

Chief Williams’ influence extended beyond ICAN. He played key roles in founding several Nigerian and African professional organizations, including the Association of Accountants in Nigeria, which served as ICAN’s precursor. His integrity and professionalism shaped the ethical standards of the accounting industry.

Over the years, ICAN has produced thousands of qualified accountants serving in both public and private sectors. The institute continues to honor Chief Williams’ legacy through scholarships, awards, and mentorship initiatives.

In summary, while many professionals contributed to ICAN’s formation, Chief Akintola Williams is universally recognized as its father and founding visionary, whose dedication transformed accounting into a respected and regulated profession in Nigeria.

Is OPay under Flutterwave?

No, OPay is not under Flutterwave. They are two separate fintech companies operating independently within Nigeria’s financial technology ecosystem. Both provide digital payment solutions, but they have different ownership structures, business models, and strategic focuses.

OPay, short for Opera Pay, was founded in 2018 by Opera Software, the Norwegian company best known for the Opera web browser. OPay focuses on providing mobile banking, bill payments, transfers, and agency services.

It has become one of Nigeria’s largest fintech platforms, known for its super app that integrates ride-hailing, food delivery, and payments in one ecosystem.

Flutterwave, on the other hand, was founded in 2016 by Iyinoluwa Aboyeji and Olugbenga Agboola. It serves as a payment gateway that enables businesses to process online transactions across Africa and globally.

Flutterwave provides APIs that allow merchants to receive payments in multiple currencies and through various channels, including cards and mobile money.

The main differences between them are:

• Ownership: OPay is backed by Chinese investors such as SoftBank and Sequoia Capital China, while Flutterwave is a Nigerian-founded company headquartered in San Francisco.

• Target Market: OPay focuses primarily on consumers and small merchants, while Flutterwave targets businesses, banks, and global corporations.

• Services: OPay operates as a digital wallet and mobile bank, whereas Flutterwave functions as a payment infrastructure provider for businesses.

Despite being competitors, both companies contribute significantly to Nigeria’s fintech growth. They occasionally integrate with similar payment systems but remain completely independent entities.

In summary, OPay is not under Flutterwave. They are separate fintech leaders revolutionizing payments in Africa through different models — OPay through consumer-focused digital banking and Flutterwave through business-oriented payment technology.

Did Ezra Olubi sell Paystack?

No, Ezra Olubi did not sell Paystack individually; rather, Paystack as a company was acquired by Stripe, a U.S.-based global payment processor, in October 2020 for approximately $200 million. Ezra Olubi and Shola Akinlade, who co-founded Paystack in 2015, both participated in the sale as co-owners.

The acquisition was one of the largest tech deals in African history. Paystack’s success caught the attention of Stripe due to its innovation in simplifying online payments for African businesses. Stripe’s purchase aimed to strengthen its presence in Africa and accelerate digital commerce across the continent.

After the sale, both Ezra and Shola retained leadership positions within Paystack to ensure smooth operations and continuity. They remained instrumental in managing Paystack’s integration with Stripe’s global infrastructure.

It’s important to clarify that Ezra did not sell his personal stake separately; instead, the transaction was a company-wide acquisition. He received financial compensation as part of the ownership structure.

Ezra Olubi, known for his distinctive personality and technological brilliance, continues to represent Paystack at major fintech events and remains active in Nigeria’s tech ecosystem.

In summary, Ezra Olubi didn’t sell Paystack on his own — he co-founded it, helped grow it, and participated in the historic $200 million sale to Stripe, marking a milestone for African fintech innovation.

How much does Flutterwave pay a graduate trainee?

Flutterwave offers highly competitive compensation to its graduate trainees, reflecting its status as one of Africa’s leading fintech companies.

While exact figures vary depending on the role and location, graduate trainees at Flutterwave in Nigeria typically earn between ₦250,000 and ₦400,000 per month, with additional performance bonuses, health benefits, and career development perks.

The program is designed for fresh graduates with strong academic backgrounds, problem-solving skills, and interest in technology. Flutterwave provides comprehensive training across departments such as software engineering, product management, finance, operations, and customer experience.

Besides salary, trainees enjoy several benefits:

• Health insurance and wellness packages

• Access to mentorship programs from senior staff

• Performance-based bonuses and promotions after the program

• Opportunities for international training and exposure within Flutterwave’s global offices.

After successful completion of the trainee program (typically lasting 6 to 12 months), candidates may be promoted to entry-level roles such as analysts, engineers, or product associates, where salaries increase to ₦500,000–₦800,000 per month depending on the department.

Flutterwave’s compensation structure aligns with its mission to attract top talent and maintain world-class operational standards. The firm competes globally, so it ensures that employees receive fair and motivating pay.

In conclusion, Flutterwave pays graduate trainees between ₦250,000 and ₦400,000 monthly, alongside benefits and growth opportunities that make it one of the most attractive employers in Nigeria’s fintech space.

Who owns FairMoney?

FairMoney is a Nigerian digital bank and lending platform owned by FairMoney Microfinance Bank, which in turn is operated by FairMoney SAS, a company registered in Paris, France.

The company was founded in 2017 by three entrepreneurs — Laurin Hainy, Matthieu Gendreau, and Nicolas Berthozat — who aimed to revolutionize access to financial services in emerging markets, particularly in Africa.

Laurin Hainy, a German-born fintech entrepreneur, serves as FairMoney’s CEO. He has a background in finance and venture capital and is passionate about building digital infrastructure that enables access to affordable loans and banking services for people who are often excluded from traditional banks.

FairMoney began as a digital lending platform, providing instant loans to Nigerians through mobile phones. The company leveraged artificial intelligence and alternative credit scoring models to analyze users’ financial behavior, smartphone data, and transaction history.

This approach allowed FairMoney to offer fast, collateral-free loans within minutes — a breakthrough in a country where millions of adults are unbanked or underbanked.

In 2021, FairMoney obtained a microfinance banking license from the Central Bank of Nigeria (CBN), officially becoming FairMoney Microfinance Bank. This allowed the company to expand its services beyond loans into savings, bill payments, and other digital banking operations.

FairMoney’s success has attracted global investors. It has raised significant funding from international venture capital firms, including Tiger Global Management, Flourish Ventures, and DST Global.

These investments have helped it expand operations, improve its mobile app, and extend its reach into other African markets such as India and Kenya.

Despite its international ownership, FairMoney remains deeply rooted in Nigeria, where it serves millions of customers. It continues to innovate by offering users virtual debit cards, business loans, and digital wallets.

In summary, FairMoney is owned by FairMoney SAS, co-founded by Laurin Hainy, Matthieu Gendreau, and Nicolas Berthozat. Its Nigerian operations are managed under FairMoney Microfinance Bank, licensed by the CBN.

The company’s hybrid identity — European ownership with African focus — makes it one of the most successful fintech-driven banks on the continent.

Who owns SportyBet?

SportyBet is owned by Sporty Group, a global technology and entertainment company founded by Sudeep Dalamal Ramnani, an Indian-born entrepreneur. He serves as the CEO and co-founder of the Sporty Group, which operates SportyBet as its flagship brand.

SportyBet officially launched in Nigeria in 2018, quickly becoming one of the most popular online sports betting platforms in Africa. Its success is largely due to its user-friendly interface, fast payouts, and extensive sports coverage — including football, basketball, tennis, and virtual sports.

Sudeep Ramnani’s vision for SportyBet was to create a platform that combines sports betting, digital entertainment, and technology to engage users across emerging markets.

The platform operates under the Sporty Group’s international gaming license, with local subsidiaries registered in each country of operation, including SportyBet Nigeria Limited, which holds a valid license from the National Lottery Regulatory Commission (NLRC).

SportyBet’s parent company, Sporty Group, has a global presence with headquarters in the United Kingdom and the Isle of Man, while its African operations are managed locally.

It also operates in Ghana, Kenya, Uganda, Tanzania, and Zambia, and has partnerships that extend to Latin America and Asia.

The platform is known for innovation — integrating features like live streaming, instant cash-out, and a sleek mobile interface that performs well even on low-end devices. These advantages have made it particularly attractive to young Nigerians who love football and betting.

Despite rumors that SportyBet is locally owned, it is actually foreign-owned but locally operated, meaning it complies with Nigerian laws and employs Nigerians across its technical and operational teams.

In summary, SportyBet is owned by the Sporty Group, founded by Sudeep Dalamal Ramnani, with Nigerian operations run through SportyBet Nigeria Limited.

The brand’s focus on technology, user experience, and responsible gaming has solidified its position as one of Africa’s most successful betting platforms.

Are they using OPay in the USA?

No, OPay is not widely used in the USA. The platform was specifically designed for emerging markets, with its primary focus on Nigeria and a few other African countries.

While OPay’s parent company, Opera Software, is based in Norway, the financial services brand OPay operates mainly within Africa’s fintech ecosystem.

OPay was launched in 2018 as a digital wallet and payment platform to help users in Nigeria perform transactions such as bill payments, fund transfers, airtime top-ups, and mobile banking. It quickly became one of the leading fintech apps in Africa due to its convenience and low transaction fees.

However, in the United States, OPay does not currently operate because the U.S. market already has a highly developed financial ecosystem dominated by established payment services like PayPal, Venmo, Cash App, and Apple Pay.

These platforms already provide fast, secure, and regulated mobile payments, leaving little room for foreign fintechs like OPay to compete without major regulatory approval.

OPay’s business model and regulatory compliance are also more suited to developing economies, where there’s still a need for financial inclusion and cashless payment systems.

The Central Bank of Nigeria (CBN) has provided a friendly regulatory framework that encourages fintech innovation — something that would be much harder to achieve in the U.S., given the strict financial laws and competition.

That said, OPay’s parent company has expressed interest in expanding globally in the future, potentially exploring partnerships with international firms. But as of now, OPay services such as OPay wallet, transfers, or OPay card are not operational in the United States.

In summary, OPay is not used in the USA. It remains an Africa-focused fintech platform that thrives in markets where digital financial inclusion is still growing, particularly Nigeria, where it continues to dominate the fintech landscape.

Which Big 4 is hardest to get into?

The hardest Big 4 firm to get into depends on region and competition, but globally, Deloitte and PwC are often regarded as the toughest due to their large applicant pools and rigorous recruitment standards.

Deloitte, the world’s largest professional services firm by revenue, attracts hundreds of thousands of applicants every year.

Its recruitment process involves multiple stages, including aptitude tests, case studies, interviews, and behavioral assessments. Deloitte’s focus on leadership potential, problem-solving, and innovation makes it highly selective.

Similarly, PwC (PricewaterhouseCoopers) is extremely competitive because of its global brand recognition and strong presence in both audit and consulting.

PwC places heavy emphasis on academic excellence, interpersonal skills, and adaptability. Candidates typically need a GPA above 3.6 (or a 2:1/first class degree) and relevant internship experience to stand out.

EY (Ernst & Young) and KPMG are also competitive, but they are slightly easier to access due to having slightly smaller applicant pools. However, once you’re inside, promotions and performance standards are equally demanding across all four firms.

In Nigeria, Deloitte and PwC are considered the hardest to enter due to their prestige and compensation packages. Deloitte, for instance, emphasizes both intellectual and ethical excellence, while PwC’s recruitment tests are known for their complexity and psychometric nature.

The difficulty also depends on the service line — audit and tax roles are highly competitive, but IT advisory and risk consulting can sometimes offer more openings.

Ultimately, all Big 4 firms look for candidates who demonstrate technical competence, communication skills, analytical ability, and teamwork. The hardest one to get into isn’t necessarily the one with the toughest exams, but the one where your skills align least with their culture or needs.

In summary, Deloitte and PwC are generally the hardest Big 4 firms to get into, followed closely by EY and KPMG. Success depends on preparation, academic strength, and personality fit — not just luck.

Which firm is the richest in Nigeria?

As of 2025, the richest company in Nigeria is Dangote Group, founded and owned by Aliko Dangote, Africa’s richest man. The group is a massive conglomerate with investments in cement, sugar, salt, flour, and oil refining.

Its most valuable subsidiary, Dangote Cement Plc, dominates the African construction materials market and generates billions of naira annually.

Dangote Cement, listed on the Nigerian Exchange Group (NGX), is valued at over ₦10 trillion, making it the largest publicly traded company in Nigeria. It contributes significantly to Nigeria’s GDP and employs thousands of people across the continent.

The Dangote Refinery, inaugurated in 2023, has further boosted the group’s wealth. The refinery is one of the largest in the world, with the capacity to process 650,000 barrels of crude oil per day.

Once fully operational, it’s expected to make Nigeria self-sufficient in fuel production and generate billions of dollars in export revenue.

Other top firms in Nigeria include MTN Nigeria, Airtel Africa, BUA Group, and Seplat Energy, but none currently match the combined net worth and industrial reach of Dangote Group.

Dangote’s strategic investments and consistent reinvestment into Nigerian industries have made his conglomerate not just the richest but also one of the most influential. Its dominance in multiple sectors — especially cement and petroleum — solidifies its leadership.

In conclusion, Dangote Group is the richest firm in Nigeria, with its success driven by industrial diversification, massive infrastructure projects, and visionary leadership from Aliko Dangote.

What is the full name of OPay?

The full name of OPay is Opera Pay Digital Services Limited. It is commonly referred to as OPay, which stands for Opera Pay, a brand name derived from its parent company, Opera Software AS — the Norwegian company best known for the Opera web browser.

OPay was founded in 2018 and has since evolved into one of Africa’s most successful fintech platforms. The company was established to provide seamless and affordable digital payment services, including money transfers, bill payments, airtime purchases, mobile banking, and merchant transactions.

The creation of OPay was inspired by Opera’s vision to extend beyond web browsing and explore new digital opportunities across Africa.

Opera Software noticed the rapid adoption of mobile phones and the gap in financial inclusion in Nigeria, where millions of people had limited or no access to traditional banking services.

This led to the establishment of Opera Pay Digital Services Limited, designed to offer accessible, technology-driven financial solutions.

OPay quickly gained traction in Nigeria due to its easy-to-use app, extensive agent network, and low transaction fees. Within just a few years, it became one of the country’s most downloaded fintech apps.

The company’s growth was supported by strategic investments from global venture capital firms, including SoftBank Vision Fund, Sequoia Capital China, and IDG Capital, who collectively invested over $400 million into OPay.

The platform operates as a mobile money and digital banking ecosystem, offering services such as:

• Wallet-to-wallet transfers

• Savings and investment options

• Utility and bill payments

• Merchant and POS services

It also introduced an OPay Debit Card, allowing users to withdraw and make purchases both online and offline.

Although OPay began under Opera Software, it now operates independently under the name OPay Digital Services Limited, headquartered in Lagos, Nigeria. The company is licensed by the Central Bank of Nigeria (CBN) as a Mobile Money Operator (MMO).

In summary, the full name of OPay is Opera Pay Digital Services Limited. It is a fintech company founded by Opera Software to enhance digital payments and financial inclusion in Africa, with Nigeria serving as its largest and most successful market.

Who owns Kuda?

Kuda Bank, officially known as Kuda Microfinance Bank Limited, is owned by Kuda Technologies Limited, a digital banking company founded by Babs Ogundeyi and Musty Mustapha.

Babs Ogundeyi, who serves as the Co-founder and CEO, is a Nigerian entrepreneur and financial expert with years of experience in banking, finance, and government advisory.

Before establishing Kuda, he worked with PwC and later served as a special adviser on finance to the Oyo State government. His vision was to create a modern, fully digital bank tailored to the needs of young Africans.

Musty Mustapha, the Co-founder and CTO, is a technology innovator with a background in software engineering and system architecture. Together, they launched Kuda in 2019 as Nigeria’s first fully licensed digital-only bank, meaning it operates entirely online without physical branches.

Kuda Bank’s license was issued by the Central Bank of Nigeria (CBN), giving it official recognition as a microfinance bank authorized to offer savings, loans, and other banking services. The company is headquartered in Lagos, Nigeria, and has additional offices in London and Cape Town.

Ownership of Kuda also includes several international investors, as the company has raised significant funding from global venture capital firms.

Some of the top investors include Target Global, Entrée Capital, Valar Ventures (founded by billionaire Peter Thiel), and SBI Investment. In total, Kuda has raised over $90 million in funding to expand across Africa.

Kuda’s mission is to make banking simple, free, and accessible for everyone. It provides users with a mobile app for transfers, bill payments, savings, and budgeting, all with zero card maintenance fees. The bank also offers a free debit card and innovative features such as automatic savings and spending analytics.

In summary, Kuda is owned by Kuda Technologies Limited, co-founded by Babs Ogundeyi and Musty Mustapha. It is Nigeria’s leading digital-only bank, built to simplify financial management through technology and innovation, and supported by global investors committed to reshaping banking in Africa.

Who owns PiggyVest?

PiggyVest is owned by PiggyTech Global Limited, a Nigerian financial technology company founded by Odunayo Eweniyi, Joshua Chibueze, and Somto Ifezue. The company began as Piggybank.ng in 2016 before rebranding to PiggyVest in 2019 to reflect its expanded services beyond digital savings.

The founders started the company after identifying a common challenge faced by Nigerians — the inability to save money consistently. PiggyVest was designed to help users automate savings and investments through a secure online platform.

• Odunayo Eweniyi, the Co-founder and COO, is a computer engineer and social entrepreneur known for her work in financial inclusion and women’s empowerment.

• Joshua Chibueze, the Chief Marketing Officer (CMO), leads the company’s branding and growth strategies.

• Somto Ifezue, the CEO, oversees the company’s technology development and strategic direction.

PiggyVest allows users to save and invest small amounts of money regularly, helping them achieve financial discipline. The platform offers several savings features such as:

• Piggybank (automatic savings)

• Safelock (fixed savings for a period)

• Target Savings (goal-based plans)

• Flex Naira and Flex Dollar (investment and withdrawal accounts)

The platform is licensed and regulated by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC), making it one of the safest digital savings options in the country.

In addition to savings, PiggyVest offers users investment opportunities through its Investify feature, which allows Nigerians to invest in low-risk assets and earn competitive returns.

Over the years, PiggyVest has attracted millions of users and has become a trusted name in Nigerian fintech. The founders have received numerous awards for innovation and digital transformation in finance.

In summary, PiggyVest is owned by PiggyTech Global Limited, co-founded by Odunayo Eweniyi, Joshua Chibueze, and Somto Ifezue. It is a proudly Nigerian fintech company that empowers users to save, invest, and achieve financial stability through technology.

What are the 5 D’s of fintech?

The 5 D’s of Fintech refer to the five key forces transforming the financial technology industry globally.

These are Digitization, Data, Decentralization, Democratization, and Disruption. Each “D” represents a pillar driving innovation and redefining how people and institutions interact with financial services.

1. Digitization
   This refers to the process of converting traditional financial processes into digital formats. Fintech companies use technology to replace manual systems with apps, online banking, and automated transactions. Examples include mobile payments, e-wallets, and online loan platforms like OPay and FairMoney. Digitization improves speed, accessibility, and efficiency in the financial ecosystem.

2. Data
   Data is the new oil in the fintech industry. Companies use big data and artificial intelligence (AI) to analyze user behavior, predict creditworthiness, and offer personalized financial products. Platforms like Kuda and PiggyVest use data analytics to design tailored savings and loan offers. The smarter the data use, the more accurate and customer-friendly fintech services become.

3. Decentralization
   This principle is driven by blockchain and cryptocurrency technologies, which remove intermediaries such as banks from financial transactions. Decentralized finance (DeFi) allows people to borrow, save, and invest directly without traditional institutions. This makes financial systems more transparent and less dependent on central authorities.

4. Democratization
   Democratization in fintech means making financial services accessible to everyone, regardless of social class or location. Many fintech startups in Africa, such as OPay, PalmPay, and Moniepoint, have achieved this by bringing digital banking to underserved populations. It’s about financial inclusion — giving people equal access to tools that were once reserved for the elite.

5. Disruption
   Fintech is inherently disruptive. By introducing innovative solutions, it challenges traditional banking systems and forces them to adapt. Disruption is seen in mobile banking, blockchain technology, peer-to-peer lending, and AI-driven customer service. It encourages continuous improvement and competition in the finance industry.

In conclusion, the 5 D’s of Fintech — Digitization, Data, Decentralization, Democratization, and Disruption — summarize the forces shaping modern financial technology. Together, they represent how fintech is redefining the global financial landscape and empowering users worldwide.

Is PiggyVest a fintech company?

Yes, PiggyVest is a fintech company, meaning it operates within the financial technology sector. Fintech refers to businesses that use digital tools and innovation to improve financial services such as payments, savings, loans, and investments.

PiggyVest fits squarely into this category because it combines technology and finance to help users save and invest efficiently.

Founded in 2016 as Piggybank.ng by Odunayo Eweniyi, Joshua Chibueze, and Somto Ifezue, PiggyVest started with a simple goal — to help Nigerians save money consistently. Using its mobile and web platforms, users can automatically lock funds, set savings targets, and earn interest.

As a fintech company, PiggyVest leverages automation, mobile technology, and data analytics to provide seamless financial experiences. For instance, users can set automated deductions from their bank accounts into PiggyVest wallets, eliminating the temptation to spend impulsively.

The company also offers innovative features like:

• Safelock: A fixed deposit-like feature that allows users to lock funds and earn higher interest.

• Target Savings: A goal-based plan where users save toward specific purposes like rent or tuition.

• Investify: A service that connects users with vetted, low-risk investment opportunities.

PiggyVest’s operations are regulated by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC). These ensure compliance, user protection, and financial stability.

Beyond savings, PiggyVest promotes financial inclusion — enabling people, especially young Nigerians, to build wealth regardless of income level. The platform’s success demonstrates how fintech can make personal finance more accessible, transparent, and engaging.

In conclusion, PiggyVest is a fintech company that uses technology to simplify savings and investment for millions of Nigerians. Its innovative features, secure systems, and user-focused approach make it one of the most influential fintechs in Africa’s digital finance landscape.

Is Moniepoint now a unicorn?

Yes, Moniepoint is officially a unicorn company, meaning it has achieved a valuation of over $1 billion. The Nigerian fintech firm reached this milestone in 2023, becoming one of the few African startups to earn the unicorn status.

Moniepoint Inc., formerly known as TeamApt, was founded in 2015 by Tosin Eniolorunda and Ezra Olubi (who later co-founded Paystack). The company started as a software solutions provider for Nigerian banks, building tools that improved payment infrastructure and digital transactions.

Over time, it evolved into a full-fledged financial technology company, rebranding as Moniepoint and focusing on digital payments, banking, and financial inclusion.

The company achieved unicorn status after years of consistent growth, fueled by its vast agent network and innovative financial services. Moniepoint’s success is built on its ability to serve both businesses and individuals in Nigeria’s dynamic financial ecosystem.

It offers Point-of-Sale (POS) terminals, merchant banking, savings, and loan services, making it one of the most comprehensive fintech platforms in Africa.

Moniepoint’s unicorn valuation came after securing significant funding rounds from global investors such as QED Investors, Novastar Ventures, and Lightrock. These investments helped the company expand its operations and technology infrastructure, positioning it as a leader in the African fintech scene.

As of 2025, Moniepoint serves over 2 million businesses and processes billions of dollars in transactions monthly. The company’s vision is to “power the dreams of businesses” by providing accessible and reliable financial tools to small and medium-sized enterprises (SMEs).

The term “unicorn” refers to privately held startups valued at $1 billion or more, and Moniepoint joins other African fintech giants like Flutterwave, OPay, and Interswitch in that category.

Its achievement is particularly significant because it demonstrates the strength and potential of Nigeria’s fintech sector, which is now recognized globally for innovation and scalability.

In conclusion, Moniepoint is now a unicorn, valued at over $1 billion, thanks to its strong growth, robust agent network, and commitment to financial inclusion. Its rise represents the power of African innovation and the global recognition of Nigeria’s fintech leadership.

Who is the owner of Moniepoint?

Moniepoint is owned and led by Tosin Eniolorunda, the Co-founder and CEO of the company. He founded Moniepoint (formerly TeamApt) in 2015 with a vision to simplify financial services and empower businesses across Africa through technology.

Tosin Eniolorunda is a Nigerian entrepreneur and software engineer who previously worked at Interswitch, one of Africa’s first fintech pioneers. His experience in digital payments and financial systems inspired him to build a company that could bridge the gap between banks, businesses, and everyday users.

Moniepoint started as a banking software developer, building solutions that helped financial institutions manage digital operations.

Over time, Tosin rebranded the company to Moniepoint and shifted its focus toward financial inclusion, providing accessible tools for small and medium-sized businesses (SMEs), particularly those in Nigeria’s informal economy.

Under Tosin’s leadership, Moniepoint became one of the most trusted payment service providers in the country. It offers a wide range of services, including:

• POS transactions and agency banking

• Business accounts and cash management tools

• Loans and credit facilities for small businesses

• Payment processing for merchants and online platforms

Moniepoint’s agent network now spans all 36 states in Nigeria, processing millions of transactions daily. The company’s success is credited to Tosin’s visionary approach to using technology as a tool for empowerment.

Tosin Eniolorunda holds a degree in Mechanical Engineering from Obafemi Awolowo University (OAU) and has been recognized as one of Africa’s top fintech leaders.

His company’s values — trust, innovation, and accessibility — reflect his commitment to driving financial inclusion across the continent.

Though Tosin Eniolorunda is the majority owner and CEO, Moniepoint has also attracted significant investment from global venture capital firms, including QED Investors and Lightrock, who now hold minority stakes.

In summary, Tosin Eniolorunda owns and leads Moniepoint, a billion-dollar fintech company focused on empowering businesses and transforming digital finance in Africa. His leadership and innovation continue to shape the future of Nigeria’s fintech landscape.

Which is better, OPay or Kuda?

The comparison between OPay and Kuda Bank depends on what users value most — accessibility and cash transactions (OPay) or digital banking convenience (Kuda). Both are leading fintech companies in Nigeria, but they serve slightly different purposes.

1. Overview

• OPay (Opera Pay Digital Services Limited) focuses on mobile money, payments, and financial inclusion. It operates with a large physical agent network, offering services like cash deposits, withdrawals, and bill payments.

• Kuda, on the other hand, is a digital-only bank, licensed by the Central Bank of Nigeria (CBN) as a microfinance bank. It offers banking services entirely through its mobile app, with no physical branches.

2. Services Offered

• OPay provides POS services, loans, savings, airtime, utility payments, and merchant transactions. It’s ideal for people who handle both cash and digital money.

• Kuda offers free bank transfers, automatic savings, budgeting tools, and debit cards with zero maintenance fees. It’s more suited for tech-savvy individuals who prefer full digital banking.

3. Accessibility

• OPay is more accessible to rural users through its vast network of physical agents.

• Kuda is designed for smartphone users with reliable internet access.

4. Transaction Fees

• Kuda offers 25 free transfers monthly, after which minimal fees apply.

• OPay charges small fees for some transactions but remains affordable and widely available.

5. Reliability and Customer Support

Both companies have strong reputations for speed and efficiency, but OPay’s offline accessibility gives it an advantage in areas with limited internet coverage.

6. Verdict

• Choose OPay if you prioritize cash transactions, bill payments, and offline access.

• Choose Kuda if you want a modern digital bank with automated savings and zero hidden charges.

In conclusion, both OPay and Kuda are excellent fintech options, but they cater to different audiences. OPay excels in inclusivity and physical reach, while Kuda dominates in digital convenience and modern banking features.

Who are the Big 4 companies in Nigeria?

The Big 4 companies in Nigeria are the Nigerian branches of the world’s largest professional services firms:

1. PricewaterhouseCoopers (PwC)

2. KPMG

3. Deloitte

4. Ernst & Young (EY)

These firms provide audit, tax, consulting, and advisory services to both public and private organizations. They are renowned for their global expertise, professionalism, and influence in business and finance.

Each of the Big 4 has operated in Nigeria for decades:

• PwC Nigeria, established in 1953, is one of the oldest and most respected.

• KPMG Nigeria provides consulting, audit, and tax advisory services.

• Deloitte Nigeria is known for its financial advisory and risk management expertise.

• EY Nigeria focuses on business transformation, assurance, and financial services.

The Big 4 play vital roles in corporate governance, financial auditing, and management consulting, helping shape Nigeria’s business environment. They are also top employers for accountants, auditors, and consultants seeking global careers.

In summary, the Big 4 companies in Nigeria are PwC, KPMG, Deloitte, and EY — global firms providing essential financial and consulting services that drive business growth and economic development.

Who owns SportyBet?

SportyBet is owned by Sporty Group, a multinational sports entertainment and betting company founded by Sudeep Dalamal Ramnani. The company operates across Africa and parts of Europe, providing online sports betting, virtual gaming, and live casino services.

Sudeep Ramnani is a British-Indian entrepreneur who has built SportyBet into one of the leading betting platforms in Africa, especially in Nigeria, Kenya, and Ghana.

SportyBet is known for its user-friendly interface, fast payouts, and large jackpot offers, which attract millions of users daily. The platform allows users to bet on football, basketball, tennis, and e-sports, among other games.

The company’s parent organization, Sporty Group, has its headquarters in London, United Kingdom, but its operations in Nigeria are run under SportyBet Nigeria Ltd, licensed by the National Lottery Regulatory Commission (NLRC).

SportyBet’s success comes from its strong digital platform, mobile accessibility, and competitive odds. It also sponsors local sports events and teams, further strengthening its presence in Africa’s sports industry.

In summary, SportyBet is owned by Sudeep Ramnani’s Sporty Group, and it operates as one of Africa’s fastest-growing betting and sports entertainment companies.

Who owns OPay?

OPay is owned by Opera Software AS, a Norwegian technology company, and is backed by major international investors including SoftBank Vision Fund, Sequoia Capital China, and IDG Capital.

The company was established in 2018 as Opera Pay Digital Services Limited, a subsidiary of Opera Software. Its Nigerian operations are headquartered in Lagos, led by Yahui Zhou, the Chairman and CEO of Opera.

Over the years, OPay has received over $400 million in funding, allowing it to expand its services across Africa. It is now one of Nigeria’s largest fintech firms, providing digital payments, transfers, loans, and merchant services.

In summary, OPay is owned by Opera Software AS, with significant investment from global venture capital firms. It is managed locally in Nigeria but operates as part of a global fintech ecosystem.

Is Mikano a Nigerian company?

Yes, Mikano International Limited is a Nigerian company, although it has partnerships with international brands. Founded in 1993, Mikano specializes in power generation, industrial equipment, and construction solutions.

The company was established by Mofid Karameh, a Lebanese-Nigerian entrepreneur. Headquartered in Lagos, Nigeria, Mikano started as a generator assembly company, importing and assembling generator parts from Europe and Asia to meet Nigeria’s growing demand for power solutions.

Today, Mikano is one of the largest energy and engineering companies in Nigeria, providing products such as:

• Diesel and gas generators

• Renewable energy systems

• Power distribution equipment

• Luxury real estate developments

Mikano’s operations have expanded beyond power generation to include automotive partnerships (with brands like Geely) and property development, including its Mikano Residences projects in Lagos.

In conclusion, Mikano is a Nigerian company with global affiliations, founded by Mofid Karameh. It remains a leader in Nigeria’s power and engineering sectors, contributing significantly to industrial and economic growth.

What is ABCD in fintech?

The ABCD in fintech refers to the four core technologies that are transforming the financial technology industry: Artificial Intelligence (AI), Blockchain, Cloud Computing, and Data Analytics.

These four components work together to create efficient, secure, and customer-focused financial solutions that redefine how people and businesses interact with money.

1. Artificial Intelligence (AI):

AI is at the center of fintech innovation. It powers systems that can learn from data, make predictions, and automate decision-making. In fintech, AI is used in fraud detection, credit scoring, chatbots, and personalized customer experiences.

For example, platforms like FairMoney and Carbon use AI to analyze user behavior and determine creditworthiness instantly. AI also enhances customer service through intelligent chatbots and recommendation engines, making financial services faster and more accessible.

2. Blockchain:

Blockchain technology provides a decentralized and transparent ledger that records transactions securely. It is the foundation for cryptocurrencies like Bitcoin and Ethereum, and it ensures that digital transactions cannot be easily tampered with.

In fintech, blockchain reduces fraud, improves transparency, and enhances the security of digital payments. Some companies also use it for smart contracts, supply chain finance, and digital identity verification.

3. Cloud Computing:

Cloud computing allows fintech companies to store, manage, and process data remotely instead of relying on physical servers. This improves scalability, efficiency, and data accessibility.

Through cloud infrastructure, fintech startups can offer 24/7 services and handle large-scale transactions securely. Cloud computing also reduces operational costs, allowing fintechs to provide affordable financial solutions to customers worldwide.

4. Data Analytics:

Data is the lifeblood of fintech. Companies use advanced analytics to understand customer preferences, detect fraud, and design new products. Data analytics helps financial institutions make informed decisions and tailor products to specific markets.

It also enables risk assessment, behavioral prediction, and investment optimization, which are essential in digital finance.

Together, these four technologies — AI, Blockchain, Cloud Computing, and Data Analytics — form the ABCD framework that defines modern fintech. They enhance innovation, improve security, and ensure that financial services are efficient, transparent, and user-centered.

In summary, ABCD in fintech represents the backbone of the industry’s digital transformation. These technologies are not just buzzwords; they are the driving forces shaping the future of banking, payments, lending, and investments globally.

What is the dark side of fintech?

While fintech has revolutionized the financial world with convenience and innovation, it also has a dark side — the challenges, risks, and ethical issues that come with rapid digital transformation. These issues highlight the importance of responsible innovation and regulation.

1. Cybersecurity Threats:

One of the biggest challenges in fintech is cybercrime. Because fintech operates entirely online, hackers target platforms to steal sensitive financial information, commit identity theft, or conduct fraud.

Data breaches can expose millions of users to financial losses and privacy violations. Companies must constantly upgrade their security systems to protect against these risks.

2. Data Privacy Concerns:

Fintech companies rely heavily on user data for personalized services. However, this creates a risk of data misuse or unauthorized access.

Some firms collect more personal information than necessary, raising questions about how this data is stored, shared, and monetized. Without strict privacy laws, users’ personal and financial data may be exploited.

3. Financial Exclusion:

While fintech promotes inclusion, it can also deepen inequality. People without smartphones, internet access, or digital literacy are often left behind. In developing countries, this “digital divide” means that rural populations may not fully benefit from fintech innovations.

4. Algorithmic Bias:

AI-driven credit scoring and loan systems can unintentionally discriminate against certain groups. If the data used to train these algorithms is biased, the system may favor or exclude individuals unfairly, especially those with limited digital footprints.

5. Over-Reliance on Technology:

Fintech depends heavily on digital systems. A simple server failure or network outage can paralyze financial operations, affecting millions of users. This makes fintech highly vulnerable to technical disruptions.

6. Fraud and Scams:

Digital platforms also attract fraudsters and scammers who exploit users through fake investment schemes, phishing, or Ponzi apps pretending to be legitimate fintech services.

7. Regulatory Challenges:

The fintech sector evolves faster than regulatory frameworks. Many governments struggle to create effective rules for new technologies like cryptocurrency, blockchain, and digital lending, leading to loopholes and unmonitored activities.

In conclusion, the dark side of fintech lies in its security, ethical, and social risks. While fintech promotes financial inclusion and innovation, it must be managed responsibly to prevent data misuse, fraud, and inequality.

A balance between innovation and regulation is essential for a safe and fair digital financial ecosystem.

Will fintech be replaced by AI?

Fintech will not be replaced by AI, but rather transformed and strengthened by it. Artificial Intelligence (AI) is one of the core technologies driving fintech innovation, and instead of eliminating fintech, it is helping the industry become smarter, faster, and more efficient.

Fintech (financial technology) is a broad field that covers digital banking, payments, lending, insurance, and investment platforms. AI, on the other hand, is a tool — a branch of computer science that enables machines to learn, reason, and make decisions.

Together, they create “intelligent fintech” or AI-powered finance, which is the next phase of digital banking evolution.

1. AI Enhances Decision-Making:

Fintech companies use AI to improve credit scoring, fraud detection, and risk assessment. Instead of replacing financial systems, AI helps automate decision-making and analyze massive data sets faster and more accurately than humans.

2. AI Improves Customer Service:

Chatbots and virtual assistants powered by AI are transforming customer support in fintech apps like Kuda, OPay, and FairMoney. These systems handle thousands of inquiries instantly, improving user experience while reducing operational costs.

3. AI in Fraud Detection:

AI detects suspicious activity in real-time, identifying patterns that indicate fraud or money laundering. This technology makes fintech platforms more secure and trustworthy.

4. Personalized Financial Services:

AI enables fintechs to offer personalized recommendations for saving, spending, and investing. For example, AI systems can analyze user behavior and provide tailored budgeting advice or automated savings plans.

5. Human Jobs Will Evolve, Not Disappear:

While AI will automate routine tasks, humans will still play crucial roles in strategic decision-making, compliance, and relationship management. The collaboration between AI systems and financial experts will create a hybrid workforce, not total replacement.

In summary, AI will not replace fintech — it will redefine it. The future of financial technology will be AI-driven fintech, where automation, intelligence, and human creativity work together to deliver smarter and more inclusive financial services.

Is OPay a fintech?

Yes, OPay is a fintech company — one of the largest and most successful in Nigeria and Africa. The name OPay stands for Opera Pay Digital Services Limited, and it was founded in 2018 by Opera Software AS, the same company that created the Opera web browser.

OPay operates as a mobile money and financial services platform, providing users with digital payment and banking tools such as:

• Money transfers

• Bill and airtime payments

• POS and merchant services

• Savings and loans

The company’s goal is to make financial services accessible to everyone, particularly in regions where traditional banking is limited. Through its vast agent network, OPay has become a key driver of financial inclusion in Nigeria, allowing users to deposit, withdraw, and transfer funds even without a formal bank account.

OPay is licensed by the Central Bank of Nigeria (CBN) as a Mobile Money Operator (MMO). Its services are fast, secure, and affordable, making it a top choice for millions of users and small businesses.

The company’s success has been fueled by international investors, including SoftBank Vision Fund, Sequoia Capital China, and IDG Capital, which together have invested over $400 million into the company.

In conclusion, OPay is a fintech company that combines technology and finance to deliver digital banking solutions. Its focus on inclusivity, innovation, and accessibility makes it one of the most impactful fintechs in Africa’s digital economy.

What is MTN fintech?

MTN Fintech is the financial technology division of MTN Group, Africa’s largest telecommunications company. It provides mobile financial services (MFS) that allow users to perform digital transactions such as money transfers, bill payments, savings, and merchant services using their mobile phones.

In Nigeria and across Africa, MTN Fintech operates through platforms like MoMo (Mobile Money), which enables users to send and receive money, pay for goods and services, and even access micro-loans.

1. Background:

MTN launched its fintech arm to diversify beyond telecommunications. As mobile phone usage grew across Africa, MTN recognized an opportunity to bring financial services to millions of unbanked people.

2. Services Offered:

• MoMo wallets for storing and transferring money

• Bill payments for utilities, airtime, and data

• Merchant payments through QR codes and POS systems

• Microloans and savings accounts in partnership with licensed financial institutions

3. Regulation and Growth:

MTN Fintech operates under licenses issued by central banks across Africa. In Nigeria, MTN obtained a Payment Service Bank (PSB) license in 2022, allowing it to operate as MoMo PSB.

4. Financial Impact:

As of 2025, MTN Fintech serves over 60 million users and processes billions of dollars in transactions annually. It is one of Africa’s largest mobile money platforms, rivaling services like Airtel Money and M-Pesa.

In summary, MTN Fintech is the financial technology arm of MTN Group, focused on enabling mobile-based banking and payments. Its goal is to drive financial inclusion by connecting millions of Africans to affordable, secure, and convenient financial services through technology.

Is PayPal a fintech?

Yes, PayPal is one of the world’s leading fintech (financial technology) companies. Founded in 1998 by Max Levchin, Peter Thiel, Luke Nosek, Ken Howery, and Elon Musk, PayPal revolutionized the way people send and receive money online.

It was among the first digital payment systems to make online financial transactions safe, simple, and accessible globally.

As a fintech, PayPal integrates finance and technology to provide secure digital financial services such as online money transfers, international payments, and e-commerce transactions

. Its platform allows individuals and businesses to send, receive, and manage money without needing a traditional bank intermediary.

1. Core Services:

PayPal offers users a digital wallet where they can link credit or debit cards, store funds, and make payments across millions of online platforms. It also provides business solutions such as payment gateways for online stores, invoice creation, and merchant protection services.

2. Innovation and Global Reach:

PayPal has operations in over 200 countries and supports more than 25 currencies, making it one of the most globally recognized fintech platforms. It has also expanded its ecosystem by acquiring innovative fintech brands like Venmo, Braintree, and Xoom, further strengthening its digital payment network.

3. Security and Trust:

One of the reasons PayPal is a trusted fintech brand is its commitment to cybersecurity. It uses encryption, two-factor authentication, and fraud detection systems to protect user transactions, setting a benchmark for other fintech companies.

4. Financial Inclusion:

PayPal’s fintech model enables people who don’t have traditional bank accounts to engage in online transactions, especially in developing regions where digital wallets are becoming more common.

5. Competitors:

In the global fintech space, PayPal competes with Stripe, Square, Cash App, and Apple Pay, but it remains one of the most established and trusted names in the digital payment industry.

In conclusion, PayPal is a fintech giant that blends technology and finance to simplify global payments. Its innovation, global accessibility, and strong reputation make it one of the pioneers and most influential companies in the modern fintech ecosystem.

Which is better, Moniepoint or OPay?

The comparison between Moniepoint and OPay depends on what aspect of fintech services you’re evaluating — but both companies are major players in Nigeria’s digital finance industry. Each has unique strengths, audiences, and operational models that make them outstanding in different areas.

1. Overview:

• OPay was launched in 2018 by Opera Software. It offers mobile money, bill payments, ride-hailing, food delivery, and POS services.

• Moniepoint, founded in 2015 as part of TeamApt Limited, focuses on business banking and payment infrastructure, helping small and medium enterprises (SMEs) receive and manage payments efficiently.

2. Service Focus:

OPay targets individuals and consumers, providing digital wallets, transfers, and mobile payments. Moniepoint, on the other hand, primarily serves businesses, helping them process transactions, access loans, and manage finances through POS terminals and digital dashboards.

3. Accessibility:

Both platforms have extensive networks, but Moniepoint is more dominant in the POS and merchant banking segment. It has become the backbone for thousands of Nigerian businesses.

OPay, meanwhile, has stronger mobile app adoption, making it ideal for everyday transactions like sending money or buying airtime.

4. Reliability and Performance:

In recent years, Moniepoint has earned a reputation for high system uptime and low transaction failure rates, which is crucial for business owners. OPay has improved significantly but occasionally faces network delays during peak hours.

5. User Experience:

OPay’s app is user-friendly, offering services such as instant transfers, betting payments, and airtime top-ups. Moniepoint’s platform, while more professional, focuses on business analytics, transaction monitoring, and financial control.

6. Security and Compliance:

Both are licensed by the Central Bank of Nigeria (CBN), ensuring regulatory compliance and customer protection. Moniepoint also integrates anti-fraud features that safeguard merchant transactions.

Conclusion:

If you are an individual user, OPay is better for personal payments and mobile convenience. However, if you run a business and need a robust POS or financial management solution, Moniepoint is the superior choice.

Ultimately, neither is “better” overall — it depends on whether your goal is personal convenience (OPay) or business efficiency (Moniepoint).

Who is Moniepoint CEO?

The CEO of Moniepoint is Tosin Eniolorunda, a Nigerian entrepreneur, engineer, and visionary leader in the fintech industry. He co-founded TeamApt Limited in 2015, the parent company of Moniepoint, and later transformed it into one of Africa’s fastest-growing financial institutions.

Background and Education:

Tosin Eniolorunda studied Mechanical Engineering at Obafemi Awolowo University (OAU), Ile-Ife, Nigeria. After graduation, he worked at Interswitch, one of Africa’s pioneering payment companies, where he gained deep insight into electronic payments and financial systems.

His experience at Interswitch inspired him to build his own platform that could solve payment and banking challenges in Nigeria.

Founding Moniepoint:

TeamApt initially started as a software development company that built financial infrastructure for banks. However, Eniolorunda realized that many small businesses lacked access to banking tools.

This led to the launch of Moniepoint, which provides businesses with POS machines, digital banking, and easy access to loans.

Leadership and Vision:

Under Tosin’s leadership, Moniepoint has become Nigeria’s largest business banking platform, processing billions of naira in transactions daily. The company’s mission is to “power financial happiness” by helping businesses succeed through accessible and affordable financial services.

Achievements:

• Moniepoint was recognized as Nigeria’s most reliable financial platform in 2023.

• The company joined the unicorn club (valued at over $1 billion) in 2024.

• Tosin has received several awards for entrepreneurship and innovation in Africa’s fintech space.

Philosophy:

Tosin Eniolorunda is known for promoting inclusion, empowerment, and technology-driven solutions. His leadership style emphasizes innovation, integrity, and impact — focusing on real economic growth through digital finance.

In summary, Tosin Eniolorunda is the driving force behind Moniepoint’s success. Through his vision and expertise, he has built a company that not only empowers businesses but also shapes the future of financial technology across Africa.

What are the big 4 in Africa?

The Big 4 in Africa refer to the four largest professional services firms that dominate the accounting, auditing, and consulting industries. These are:

1. PricewaterhouseCoopers (PwC)

2. Deloitte

3. Ernst & Young (EY)

4. KPMG

Each of these firms operates extensively across African countries, including Nigeria, South Africa, Kenya, Ghana, and Egypt.

1. PwC Africa:

PwC is known for its expertise in audit, tax, and advisory services. It has offices in over 30 African countries. PwC plays a major role in helping governments and corporations improve governance, compliance, and digital transformation.

2. Deloitte Africa:

Deloitte operates in more than 45 African nations, making it one of the most widespread Big 4 firms on the continent. It provides consulting, risk management, and financial advisory services. Deloitte also leads in technology consulting, cybersecurity, and innovation.

3. Ernst & Young (EY):

EY is a leader in assurance, tax, and strategic consulting. It has a strong presence in South Africa and Nigeria. The firm is well-known for its entrepreneurship programs and leadership training across African markets.

4. KPMG Africa:

KPMG provides audit, tax, and advisory services in over 30 African countries. It focuses on financial integrity, regulatory compliance, and sustainable development consulting.

Impact on Africa:

The Big 4 firms are instrumental in promoting transparency, accountability, and global business standards. They help African economies attract foreign investment by improving corporate governance and supporting local enterprises.

In summary, the Big 4 in Africa — PwC, Deloitte, EY, and KPMG — are key pillars of professional services across the continent. Their influence extends beyond accounting; they are helping shape Africa’s future through business innovation, technology, and talent development.

Who owns FairMoney?

FairMoney is owned by FairMoney Microfinance Bank, a Nigerian fintech company founded by Laurin Hainy (CEO), Matthieu Gendreau, and Nicolas Berthozat in 2017.

The company started in France but established its main operations in Nigeria, where it became one of the country’s most trusted digital lending and banking platforms.

1. Background:

FairMoney began as a digital lending app offering instant loans to individuals and small businesses. Using artificial intelligence, the platform analyzes user data to assess creditworthiness and disburse loans in minutes — without collateral or paperwork.

2. Expansion into Digital Banking:

FairMoney has evolved beyond lending to become a full-fledged microfinance bank, licensed by the Central Bank of Nigeria (CBN). It now offers services such as savings, bill payments, debit cards, and salary accounts.

3. Ownership and Investors:

The company is backed by global investors such as Tiger Global Management, DST Global, and Flourish Ventures. Laurin Hainy serves as the Chief Executive Officer, guiding the company’s expansion across Africa and Asia.

4. Impact and Reach:

FairMoney has over 5 million users and disburses billions of naira in loans monthly. Its goal is to promote financial inclusion by providing easy access to credit for underserved Nigerians.

5. Recognition:

FairMoney is recognized as one of Africa’s leading AI-powered fintechs. It has been praised for bridging the credit gap and simplifying digital banking.

In summary, FairMoney is owned by its founders and global investors, led by Laurin Hainy. Through innovation and technology, it continues to redefine digital finance and banking accessibility in Nigeria and beyond.

Who is the richest Igbo woman?

The richest Igbo woman is widely regarded as Dr. (Mrs.) Ngozi Okonjo-Iweala, although some sources also mention Beatrice Ndungidi Obi, Dr. Stella Okoli, and Folorunsho Alakija (who, though Yoruba, is often mistakenly included in such lists due to her vast influence in Nigerian business).

However, in terms of verified wealth, influence, and impact, Dr. Stella Okoli, the founder of Emzor Pharmaceutical Industries, stands out as the richest Igbo woman.

1. Background and Education:

Dr. Stella Okoli hails from Nnewi, Anambra State — a region known for producing some of Nigeria’s most successful entrepreneurs. She studied Pharmacy at the University of Bradford, UK, and obtained her Master’s degree in Biopharmaceutical Studies from the University of London.

2. Founding of Emzor Pharmaceuticals:

She founded Emzor Pharmaceutical Industries Limited in 1984, starting as a small pharmacy retail store called “Emzor Chemists” in Lagos. Over the years, she transformed it into one of Nigeria’s largest pharmaceutical manufacturing companies.

3. Business Growth:

Today, Emzor produces over 140 different drugs including painkillers, vitamins, and antibiotics. Its flagship product, Emzor Paracetamol, is a household name across West Africa. The company exports to several African countries and employs thousands of workers.

4. Wealth and Influence:

Dr. Okoli’s net worth is estimated to be in hundreds of millions of dollars, derived mainly from her company’s success in the African pharmaceutical industry. Her business resilience and leadership have earned her national and international recognition.

5. Contributions and Recognition:

She is a member of several professional organizations and has received numerous awards for her contributions to healthcare and entrepreneurship. Dr. Okoli also runs the Chike Okoli Foundation, named after her late son, which promotes entrepreneurship and cardiovascular health awareness in Nigeria.

In conclusion, Dr. Stella Okoli is the richest and most influential Igbo woman in Nigeria. Through her vision, determination, and innovation, she built a world-class pharmaceutical brand that continues to impact millions of lives while inspiring countless women across Africa.

Is Moniepoint leaving Nigeria?

No, Moniepoint is not leaving Nigeria. In fact, the company is expanding its presence within the country and across Africa.

Rumors about Moniepoint’s exit have circulated online due to Nigeria’s challenging economic environment, but the company has publicly reaffirmed its commitment to Nigeria’s fintech ecosystem.

1. Background:

Moniepoint is a subsidiary of TeamApt Limited, founded in 2015 by Tosin Eniolorunda. The company provides digital banking solutions for businesses, including POS services, money transfers, savings, and loan facilities.

2. Continued Operations in Nigeria:

As of 2025, Moniepoint remains one of Nigeria’s most trusted fintech companies, serving millions of customers and small businesses. It has over 1.5 million POS agents nationwide and processes billions of naira in transactions daily. The company’s strong market position makes it a vital part of Nigeria’s cashless economy.

3. Reasons for Rumors:

Speculation about Moniepoint leaving Nigeria often stems from economic challenges such as inflation, currency devaluation, and regulatory changes by the Central Bank of Nigeria (CBN).

However, instead of exiting, Moniepoint has adapted by upgrading its systems, expanding digital products, and improving transaction efficiency.

4. International Expansion:

While Moniepoint is expanding into other African countries like Kenya and Ghana, this does not mean it is leaving Nigeria. The company’s strategy is to grow regionally while keeping Nigeria as its central market and operational base.

5. Company’s Official Stand:

In several interviews, CEO Tosin Eniolorunda emphasized that Moniepoint remains dedicated to empowering Nigerian businesses and supporting financial inclusion. The company’s mission — “Powering Financial Happiness” — remains focused on Nigeria’s SME sector.

6. Future Outlook:

Moniepoint is investing heavily in technology, cybersecurity, and customer support to strengthen its Nigerian operations. It is also working with regulators to ensure compliance and maintain service quality.

In summary, Moniepoint is not leaving Nigeria. Instead, it is deepening its roots, expanding services, and playing a major role in shaping the future of Nigeria’s digital economy.

What is MTN fintech?

MTN Fintech is the financial technology arm of MTN Group, Africa’s largest telecommunications company. It was created to provide mobile-based financial services that promote financial inclusion across the continent. MTN Fintech operates mainly through its brand MoMo (Mobile Money).

1. Services Provided:

MTN Fintech offers a wide range of digital financial services, including:

• Money transfers (person-to-person and cross-border)

• Bill and utility payments

• Merchant and agent services

• Savings and loans through partner institutions

• Insurance and remittance solutions

2. Vision and Mission:

The company’s goal is to “enable the digital economy” by empowering individuals and businesses through mobile financial tools. It targets both banked and unbanked populations, ensuring everyone can access digital finance.

3. Regulatory Compliance:

In Nigeria, MTN operates its fintech division under the name MoMo Payment Service Bank (MoMo PSB), which is licensed by the Central Bank of Nigeria (CBN). This license allows MTN to offer basic banking services and operate a mobile money system across the country.

4. Growth and Impact:

MTN Fintech has over 65 million active users in Africa and processes billions of dollars in transactions every month. In Nigeria, it competes with fintech giants like OPay, PalmPay, and Moniepoint, while maintaining a strong focus on mobile accessibility.

5. Innovation and Technology:

MTN Fintech integrates advanced technologies like AI, blockchain, and data analytics to secure transactions and deliver a seamless user experience. The company is also exploring partnerships with banks and startups to expand its product range.

In conclusion, MTN Fintech is more than a telecom subsidiary — it’s a major financial innovation platform driving Africa’s shift toward digital and inclusive financial systems. Its success story represents how technology can bridge financial gaps and empower millions.

Who owns OPay?

OPay is owned by Opera Software AS, a Norwegian internet company best known for creating the Opera web browser. OPay was launched in 2018 as a subsidiary to expand Opera’s presence in Africa’s growing fintech and e-commerce market.

1. Founders and Investors:

Although Opera Software established OPay, the company has attracted massive investment from international venture capital firms such as Sequoia Capital China, SoftBank Vision Fund, and IDG Capital. These investors helped OPay raise over $570 million between 2019 and 2022, boosting its valuation to over $2 billion.

2. Leadership:

OPay’s CEO is Yahui Zhou, a Chinese entrepreneur who also serves as the CEO of Opera Limited. He oversees OPay’s strategic direction and expansion in Africa and beyond.

3. Operations and Growth:

OPay began operations in Nigeria, offering digital payment solutions, mobile money transfers, and POS services. It quickly grew into one of Nigeria’s most trusted fintech platforms, with millions of active users.

4. Ownership Structure:

While Opera Software remains the parent company, a significant portion of OPay’s ownership is shared among its major investors. The company’s headquarters is in Lagos, Nigeria, with technical operations supported from Beijing, China.

5. Expansion and Recognition:

OPay’s success has made it a fintech unicorn, valued at over $2 billion. The company has expanded into markets like Egypt and is planning to enter other African countries soon.

In summary, OPay is owned by Opera Software and global investors, led by CEO Yahui Zhou. Its ownership structure and global backing make it one of Africa’s strongest and most innovative fintech brands.

Is Mikano a Nigerian company?

Yes, Mikano International Limited is a Nigerian company, though it operates in partnership with international brands. It is a leading provider of power generation, construction, and industrial solutions in Nigeria and West Africa.

1. Company Background:

Mikano was founded in 1993 by Mofid Karameh, a Lebanese-Nigerian businessman. The company started as a generator assembly and distribution business but has since diversified into real estate, construction, and automobile industries.

2. Power Generation Division:

Mikano is best known for assembling and supplying diesel and gas generators for homes, industries, and government institutions. It partners with international brands like Perkins and Cummins to provide high-quality power solutions.

3. Real Estate and Construction:

Beyond power, Mikano has expanded into luxury real estate with projects like Karameh City, Mikano Towers, and Victoria Island Residences. The company’s construction division handles large-scale infrastructure projects across Nigeria.

4. Automobile Division:

Mikano also entered the automotive market under the brand Geely Nigeria, distributing modern, fuel-efficient vehicles assembled locally.

5. Nigerian Identity:

Although founded by a Lebanese entrepreneur, Mikano is fully registered and headquartered in Nigeria, employing thousands of Nigerians and contributing to the local economy.

In summary, Mikano is indeed a Nigerian company, symbolizing industrial strength, innovation, and national development. Its impact in power generation and infrastructure makes it a cornerstone of Nigeria’s industrial sector.