In a significant development in Nigeria’s financial technology sector, leading fintech companies Carbon and PalmPay have commenced the issuance of Verve cards to their customers. This move follows the Central Bank of Nigeria’s authorization of these fintech giants to issue payment cards, underscoring the apex bank’s commitment to empowering financial technology companies and advancing financial inclusion across the country. The partnership allows millions of Carbon and PalmPay customers access to Verve’s extensive payment network, bringing digital payment solutions to previously underserved populations. Industry observers note that the decision by both fintech companies to align with Verve stems from the payment…
Author: Elvis Eromosele
Six Stories, One Month of Transformation Ramadan is a period that brings families and communities together in Muslim communities worldwide. It is a season that connects loved ones from Suhoor to Iftar, through shared moments and meals that nourish both body and soul. During this time, food is more than just a source of nourishment – it carries stories, evokes emotions, brings people closer, and creates enlightening moments. In this inspiring series by MAGGI titled Tales of Ramadan, five women embark on a month-long journey of transformation, discovering the perfect recipe for friendship and connection through six captivating stories. With…
This International Women’s Day, BetKing is making a powerful statement by transforming into BetQueen for the day honouring the resilience, strength, and triumphs of women who refuse to be sidelined. Women in Nigeria continue to defy the odds, breaking barriers in industries where they’ve historically been underrepresented. This International Women’s Day, BetKing is making a powerful statement by transforming into BetQueen for the day honouring the resilience, strength, and triumphs of women who refuse to be sidelined. Here are five inspiring women breaking barriers Wanni & Handi: Twin DJs Redefining the Music Scene Breaking into the Nigerian DJ industry is…
In celebration of International Women’s Day, BetKing, Nigeria’s leading sports betting platform, is making a bold statement by temporarily rebranding as BetQueen for the day to honor and celebrate the achievements of women. This initiative is part of the company’s ‘Beat the Odds’ campaign, which aims to highlight and celebrate women who are breaking barriers in male-dominated industries. With women often facing significant challenges in climbing the leadership ladder, BetKing, the best betting site is using this platform to amplify the stories of those who have defied the odds. A key highlight of the campaign is “BetQueens” documentary, featuring inspiring…
By Elvis Eromosele Public institutions in Nigeria have a knack for policy inconsistency. They can aggressively pursue a course of action one moment and, the very next, introduce measures that directly contradict their stated objectives. The Central Bank of Nigeria (CBN) is currently at the centre of one such paradox. Everyone alive in the last couple of years witnessed the CBN champion financial inclusion, digital banking and cashless transactions. It actively encouraged banks to expand their digital footprint, increase adoption of digital payments and decongest the banking halls. Nigerians responded positively. People embraced digital banking, relying on ATMs, mobile transfers…
Cadbury Nigeria Plc, a subsidiary of Mondelēz International, one of the world’s largest snacking companies, marked 60 years of operation in the country on 9 January 2025. This announcement was contained in a statement issued by the Company. According to the statement, Cadbury Nigeria evolved from repackaging imported bulk products into a full manufacturing operation, to meet growing local demand. Cadbury Nigeria Limited was incorporated on 9 January 1965, and became a publicly listed entity on the Nigerian Stock Exchange (NSE), in 1976. Commenting on this milestone, the Chairman, Cadbury Nigeria, Mr. Adedotun Sulaiman, said: “Cadbury Nigeria has come a…
The Coca-Cola System in Nigeria, comprising of Coca-Cola Nigeria Limited and its authorized bottler, Nigerian Bottling Company (NBC), has announced the commissioning of a state-of-the-art Packaging Collection Hub located in Apapa, Lagos. The facility, a landmark initiative in Nigeria’s plastics recycling infrastructure, can process up to 13,000 metric tonnes (MT) of plastic bottles annually. In addition to supporting the Coca-Cola System’s sustainability initiatives, the hub aims to serve as a comprehensive solution for plastic waste management. It seeks to facilitate PET collection, process materials into clean PET bales, and enable rPET production through third-party partnerships—helping contribute to cleaner communities and…
Seven years ago, a new chapter in Nigeria’s gaming industry began with the launch of BetKing. Built on a foundation of innovation and excellence, it has since risen to the top, transforming sports, virtual and casino gaming, creating opportunities for countless winners across the country. As BetKing approaches its 7th anniversary on February 22, 2025, the journey has been nothing short of remarkable. What started as an ambition to provide a premium betting experience has evolved into a brand that champions empowerment, community development, and business growth. To mark the occasion, BetKing is giving back to the players who have…
In 2024, electronic payment transactions in Nigeria rose to N1.07 quadrillion, reaching an all-time high and the first time to hit the quadrillion mark. In dollar terms, this is about $702.6 billion based on the closing exchange rate of N1,535/$1 on December 31, 2024. According to the data released by the Nigeria Inter-Bank Settlement System (NIBSS), the value recorded on the NIBSS Instant Payment (NIP) represents a 79.6 per cent increase over the N600 trillion recorded in 2023. While the e-payment data shows a steady increase throughout the 12 months of the year, the highest value was recorded in December.…
By Elvis Eromosele Economists say inflation is a persistent rise in prices. It happens when there’s too much money chasing too few goods. Inflation in Nigeria today has become a huge challenge, affecting businesses, consumers, and the overall economy. As inflation rates soar above acceptable thresholds, companies are navigating uncharted waters to stay afloat. Inflation is bad for everyone. It erodes the purchasing power of consumers, increases the cost of raw materials, and heightens operational expenses. For businesses, the ripple effect can be devastating including but not limited to reduced profit margins, lower consumer spending, and the constant pressure to balance affordability with…