Food is significant to Nigerians, with households spending nearly 60% of their income on it, the highest globally, according to official reports. This strong affinity for food, coupled with the rise of online shopping, sets the stage for Nigeria’s food delivery market to potentially reach $ 2 billion to $ 3 billion by 2032. Despite […]
Nigeria’s Youverify raises $2.5M to enhance anti-money laundering compliance
Youverify, a Nigerian provider of identity verification and anti-money laundering (AML) solutions for banks and startups, secured a $ 2.5 million investment from Elm, which specializes in offering ready-made and customized digital solutions to public and private institutions in Saudi Arabia. The pre-Series A investment from Elm also includes a strategic partnership to help Youverify […]
Nigeria’s CBDC ‘a Safer Option’ Than Privately Issued Cryptocurrencies: Central Bank Official
As part of the Central Bank of Nigeria (CBN)’s digital currency charm offensive, Folashodun Shonubi, the institution’s deputy governor, has claimed that the country’s upcoming central bank digital currency (CBDC) will be a “safer option from privately issued cryptocurrency.” Payment System Stability In addition, the CBN’s digital currency — also known as the e-naira — […]