The Nation Newspaper

Tag: eTranzact

  • Togolese Mawouli  wins eTranzact Golf Classic

    Togolese Mawouli  wins eTranzact Golf Classic

    Ayao Mawouli, a Togolese professional, has emerged the winner of the 3rd eTranzact Golf Classic at Lakowe Lakes Golf Club in Lagos.

    Mawouli on Saturday, dethroned Francis Epe, who missed the half way cut at the  Professional Golfers’ Development (PGD) Tour event.

     He shot 72, level par and 68, four under par to tower above the field of 88 players that competed for the title. The event was reduced to a 36 holes play after rain denied the players of the closing round when Professional Golf Development Tour Commissioner, Femi Olagbenro, declared the course unplayable due to prolonged downpour.

    Rukayat Bola Mustapha from Ikoyi Club 1938 and Blessing Abdul from St Mark Golf Club, Otukpo both tied at +14 over 158 for the ladies’ bragging right and the winner’s cheque.

    The Managing Director eTranzact, Niyi Toluwalope noted that the rule had to be applied to allow the event official presentation to proceed.

    Read Also: Ijero United clinches victory at inaugural Oluye Municipal Cup

    He said: “It’s a good thing to rain, and we have aligned with our event partners, the Professional Golf Development Tour who have aligned with the rulebook on the best decision in this circumstance.”

    He also mentioned that eTranzact was proud at the level on interest the event had garnered from across Africa, given the number of countries that was represented at this year’s event

    “Our leadership in the fintech space has given us the perspective we brought to this youth and sports development space and we intend to continue to expand on the leverage the eTranzact Golf Classic gives the African youth.”

    Mawouli’s cumulative 140 score earned him the title as he pocketed the N10.2million winner’s cheque leaving former Nigeria’ number one player, Kamalu Bako, to settle for the runner up cut of N6m. Ivorian Kouakou Richard-Kouame finished in third place, while a three-way tie between Ibrahim Ocheje, Oche Odoh and Jean-Romaric Kouassi shared the fourth place.

  • eTranzact  Golf Classic tees off with record N50m purse

    eTranzact  Golf Classic tees off with record N50m purse

    Africa’s leading digital payments platform,  eTranzact,  has announced a record breaking N50million as professional purse for the third edition of its professional  golf classic set for the prestigious Lakowe Lakes Golf Club in Lagos between June 12  and 14.

    This year’s championship, running under the Professional Golf Development (PGD) Tour, will be the biggest local tour purse.

     The announcement has  triggered entries from elite golfers from over 10 African countries, including Ghana, Zambia, Zimbabwe, Tanzania, Kenya, Cameroon, Togo, and Cote d’Ivoire.

    The event will also be featuring lady professionals

    Chief Executive Officer of eTranzact, Niyi Toluwalope, said the tournament is growing significance in uniting Africa’s finest golfing talent. 

    Read Also: NFF  hails Aluo over transformation of NNL   

     “The eTranzact Golf Classic has evolved into one of the premier events fostering golf excellence on the continent, much like our innovative solutions have transformed the financial sector, this championship reflects the innovation, inclusivity, and ambition we stand for.” Toluwalope stated.  “This year’s record-breaking purse underscores our commitment to elevating the value and recognition of African professional golfers in the quest to creating a pathway for global success.”

    The Commissioner of the PGD Tour, Femi Olagbenro,  has  praised eTranzact’s dedication to advancing professional golf in Africa.

     “Since joining the PGD Tour calendar in 2023, eTranzact has demonstrated unparalleled commitment to growing the sport,” Olagbenro remarked. “The PGD Tour was established to nurture and showcase Africa’s professional golfing talent to the world, and the unprecedented participation in this year’s event—driven by the substantial prize money—marks a milestone in our three-year history.”

    The three-day championship will bring together a competitive field of professional players while invited amateurs will feature in the closing round. With players from across the continent vying for the top prize, Ikoyi -based Francis Epe has won the last-two editions of the event.

  • eTranzact, LASEPA commit to ESG, financial inclusion

    eTranzact, LASEPA commit to ESG, financial inclusion

    Managing Director/Chief Executive Officer of eTranzact International, Niyi Toluwalope, and General Manager of Lagos State Environmental Protection Agency (LASEPA), Dr Babatunde Ajayi, among others have highlighted importance of education, community involvement, and initiatives to protect Lagos environment and coastal economy.

    They spoke at an event by LASEPA: ‘2025 Inter Tertiary Institutions Environmental Summit’, headline sponsored by eTranzact,  to promote Environmental, Social, and Governance (ESG).

    The event also featured a debate competition by tertiary students in Lagos with the topic, “Plastic Pollution and the Challenges of Just Transition in a Developing Economy— Lagos as a Case Study.”

    At the event, eTranzact introduced its products designed to improve the ease and security of financial transactions, as well as drive financial inclusion. The products are PocketMoni: A mobile wallet solution redefining how banking  is  done in Nigeria; Credo: An all-in-one platform enabling payment acceptance & operational efficiency for MSMEs.and “BillOn”  – a merchant marketplace built for all bill payments including student related bills

    eTranzact’s chief, represented by Adedayo Adejokun, spoke on the company’s commitment to financial inclusion and environmental protection.

    He said: “… I believe this gathering is more than a contest of intellect—it is a platform where bold thinking meets realities. The theme, “Balancing Environmental Challenges and its Impact on the Lagos Economy,” could not be more relevant. In Lagos and in the world, environmental pressures are reshaping how economies function, how businesses operate, and how communities survive.

    Read Also: Fed Govt doesn’t want Nigerians to burden other countries, says Bagudu

    “We believe true innovation is not only about solving today’s problems—it’s about doing so sustainably, inclusively, and with foresight. That belief informs our business model, our technology, and our CSR agenda—particularly our focus on education.”

    LASEPA General Manager, Dr. Babatunde Ajayi, expressed excitement about engaging young people on environment matters.

    He said such awareness would help the younger generation to be knowledgeable on issues on how to protect the environment. At the end of the keen competition, Lagos State University (LASU) emerged the overall winner; Lagos State University of Science and Technology (LASUSTECH) came second; University of Lagos (UNILAG) third; Lagos State University of Education (LASUED) came fourth; and St. Augustine’s College of Education took the fifth position.

    The essay writing competition focused on “Sustainable Development in Lagos Coastal Region and Balancing Blue Economy Expansion with Environmental Potential.”

    Among the best performing students, Chinonye Ruth Ibeakanma (UNILAG) came first; Oguejiofor Nkemakonam Anthony (UNILAG) was second; David Gabriel Victor (LASUSTECH) came third; Olugbenga Tolulope (LASUED) forth; while Oladejo Faizah Eniola came fifth.

  • eTranzact, NFIU partner to reinforce compliance culture commitment

    eTranzact, NFIU partner to reinforce compliance culture commitment

    eTranzact Plc has partnered with the Nigerian Financial Intelligence Unit (NFIU) to reinforce commitment to compliance excellence.

    At a training session it hosted in partnership with NFIU, participants were tutored on critical regulatory expectations—from Know Your Customer (KYC) protocols to transparency in Ultimate Beneficial Ownership (UBO) and the timely reporting of suspicious transactions.

    Designed to steer Other Financial Institutions (OFIs) toward full regulatory alignment, the workshop brought together compliance officers, regulators, and key industry stakeholders. Discussions focused on evolving global trends in anti-money laundering (AML), counter-terrorism financing (CTF), and financial intelligence—supporting Nigeria’s ongoing efforts to exit the Financial Action Task Force (FATF) Grey List.

    Addressing staff and participants at the session, MD/CEO eTranzact Plc, Niyi Toluwalope, said: “Compliance is not an afterthought—it is woven into the very architecture of our firm’s operations. As Nigeria works its way off the FATF Grey List, we see this not just as a national priority, but a shared responsibility that begins at the institutional level.”

    Chief Risk and Compliance Officer, eTranzact Plc, Edward Onyenweaku, emphasised the operational backbone behind these measures. “Our systems are built for adaptability and scalability,” he explained. “We are leveraging both technology and policy to ensure that regulatory shifts don’t catch us off guard. This training only sharpens that edge.”

    Read Also: NFIU, London Stock Exchange Group to battle financial crimes

    According to him, as the country races to meet international anti-financial crime benchmarks, firms like eTranzact are proving that regulatory compliance and digital innovation can go hand in hand.

    The fintech’s presence at the CBN-led training wasn’t just symbolic—it was an active statement that security, transparency, and infrastructure agility are not optional in today’s financial environment. In an industry where reputations rise and fall with compliance lapses, eTranzact isn’t just staying afloat—It’s setting the pace, proving that in fintech, security isn’t an added layer.

  • eTranzact simplifies e-payment solutions

    eTranzact simplifies e-payment solutions

    eTranzact International has highlighted the relevance of its e-payment solutions, which have been simplified to support the growth of businesses and other organisations, as well as secure their payments.

    The company made presentations on its products during the 2024 Annual Conference of CeBIH (Committee of e-Business Industry Heads)’, with the theme, ‘Payment system 2030: Navigating contemporary issues in driving future growth’ in Lagos.

    During the event, eTranzact made a presentation on its products such as Switchit which offers modularity that accelerates financial service adoption through standalone modules, funds transfer, bulk payment and bill payment, as well as direct payment.

    It presented the eTranzact CorporatePay (CPay) which allows organisations to automatically handle payment of salaries and payment to third parties with the various levels of authorizations, and approvals incorporated into the payment progress.

    The Credo which the company presented at the event is an innovative multi-channel platform that empowers businesses of all sizes to conduct business and accept payments seamlessly across various touch points.

    Speaking as one of the guest speakers, the Managing Director/Chief Executive Officer, eTranzact International, Niyi Toluwalope, emphasised urgent need for collaboration to boost inefficiency of epayment system.

    Toluwalope underscored that collaboration can drive innovation and growth, especially as the consumer landscape evolves towards a younger demographic.

    He said, “So what we see in the future is the situation where things are no longer a silo, we have a lot of efficiencies based on interconnected systems people leverage on.

     “Nobody is duplicating the roles; We are not reinventing the wheels. You can leverage what has been established already and build on that. For me, I think that is the future; That is what we need to adopt, and that is how to grow.”

    Toluwalope further stressed that Nigeria leads in population but ranks lower in bank and payment penetration compared to South Africa and Kenya.

    He emphasised that key factors driving growth include active regulatory engagement and innovative FinTech solutions, citing that inadequate infrastructure and compliance issues remain critical hurdles.

    The MD added, “It’s a regulatory compliance, you cannot regulate compliance requirements, you cannot avoid it, but at the same time, it must be seamless, quick and fast.

    Read Also: eTranzact, centre partner to survey MSMEs readiness for AI

     “So digitising onboarding is one of the things we believe that’s helped payment and payment systems adoption over the last couple of years and we are expecting things to even be further simplified to make this better.”

    At the event, CeBIH unveiled its new website.

    Also, speaking at the event, the Deputy Governor of Lagos State, Obafemi Hamzat, who was represented by the Special Adviser to the Governor on Taxation and Revenue, Abdul-Kabir Opeyemi Ogungbo, stated that Governor Babajide Sanwo-Olu’s administration is leveraging technology to address local challenges in healthcare, transportation, and education.

    He noted that key initiatives of the state include a digital tax administration system to enhance compliance and a unified payment system for public services.

    He said Lagos is utilizing technology in its digital tax administration system to simplify tax collection processes, improve transparency and reduce administrative work, making tax compliance easier for businesses and individuals.

    However, Hamzat emphasized the importance of partnerships with the private sector to optimise revenue generation and improve governance, positioning Lagos as a leader in digital transformation in Nigeria.

  • FinTech can drive inclusive growth in Nigeria, says Niyi Toluwalope

    FinTech can drive inclusive growth in Nigeria, says Niyi Toluwalope

    The Chief Executive Officer of eTranzact, a leading financial technology company, Niyi Toluwalope, has emphasised the need for Nigeria’s fintech ecosystem to prioritise inclusive growth.

    Speaking at the Nigerian FinTech conference, themed ‘positioning Africas fintech ecosystem to accelerate inclusive growth, he noted that while FinTech has seen significant investment and growth, it must expand beyond traditional areas like e-payments and e-commerce.

    “A lot of time, everyone is always talking about growth, growth, and growth. But in FinTech, I think we see a lot more expansion and moving into different areas. The area we need to focus more on is actual growth. Growth from the perspective of deepening into what we are already doing to actually accommodate a lot more players, more people, and more verticals into what we are doing today.”

    Nigeria’s fintech sector has received over $4 billion in inward investments in the last couple of years. But those monies are focused on e-payments, e-commerce, payment enabling, and all of that.

    A report in 2012 emphasised the fact that 90 percent of transactions in Africa are still predominantly cash. 

    He said: “If we look at the landscape of Nigeria, there is a lot of fintech activity, but predominantly in Abuja, and recently some of which we have actually taken to Kano and Kaduna. 

    “This tells us there’s still a ot of regions in Africa, in Nigeria, that need to be covered.”

    The CEO stressed that FinTech must focus on deepening its reach, accommodating more payers, and exploring new verticals to truly drive inclusive growth.

    “We need to continue to broaden our focus. It’s easy to focus on heavily active hubs in Lagos, the FinTech powerhouse, but we need to ask ourselves, are we spreading the benefits across Nigeria? You might say the returns on investments are there. But it’s not always about return on investments today because we have to think about return on investments tomorrow.

    “We need to do what we need to do today, so that in 20 years from now, some of you can be here taking about what you have created over the 20 years, or what you have enabled over the last 20 years to get Nigeria to where it is now and where it ought to be.

    Read Also: eTranzact, centre partner to survey MSMEs readiness for AI

    “Sectors such as agriculture, healthcare, and real estate offer exciting opportunities for FinTech innovation. However, these areas have been largely overlooked in favour of more established markets. These sectors are also established to be very critical to our economy, yet still not as focused on as they ought to be. The perception is usually they are not investable, but if we aim for true, inclusive growth, FinTech needs to provide solutions that solve the problems in those sectors”, he added. 

    He charged everyone to be open and continue to collaborate and be flexible in how we build our FinTech products.

    Toluwalope highlighted the significant gap between Nigeria’s banking and unbanked populations, citing 140 millions telephone subscribers and only 65 million active bank account holders. 

    “This is the opportunity in the marketplace. This is what gets us excited every day, and eTranzact has positioned itself as a “super fintech,” ready to collaborate and take on innovative ideas to ensure financial inclusion for all Nigerians”, he said. 

  • eTranzact, centre partner to survey MSMEs readiness for AI

    eTranzact, centre partner to survey MSMEs readiness for AI

    Fintech firm, eTranzact,  and Enterprise Development Centre, EDC (Pan Atlantic University), will, through a survey, ascertain knowledge and readiness of Micro, Small, and Medium Enterprises for Artificial Intelligence (AI).

    Launch the partnership in Lagos, Managing Director of eTranzact International, Niyi Toluwalope, said the partnership would shape future of the economy, as results from the survey would be useful to governments, policymakers, investors, industry watchers and others, for planning, decision making and policy design.

    He said: “Today, we are igniting a movement to prepare Small and Medium Enterprises (SMEs) and Micro, Small, and Medium Enterprises (MSMES) for Artificial Intelligence. Our collaboration with  EDC to champion the Al Readiness Survey is a testament to our commitment to driving innovation and ensuring no business is left behind in this digital era.

    “As a catalyst for national development and an equaliser, Al represents the next frontier in this revolution. By assessing readiness of SMEs and MSMES for Al integration, we are laying groundwork for a future where Nigerian businesses can compete globally.”

    The etranzact chief stressed the initiative  was about technology adoption and empowering businesses to harness Al to drive efficiency, enhance customer experiences, and create avenues for growth.

    The idea, he noted, would trigger national development if SMEs and MSMEs would maximise AI as backbone of any economy.

    He said: “By equipping these enterprises with tools and knowledge to leverage Al, we are fostering a resilient and competitive economy leading to job creation, increased productivity, and a stronger presence in global markets.

    Read Also: Senator Barau to Nigerians: support Tinubu to succeed

    “The Al Readiness Survey, driven by our innovative technology solution, Credo, exemplifies our commitment to pushing boundaries of what is possible in the fintech space.

    “Credo represents our cutting-edge of technology. It is more than just a solution; it is a platform to empower businesses with insight and tools to thrive in a digital world…”

    ‘‘We aim to determine awareness and usage of Al, identify knowledge gaps, uncover adoption challenges, and analyse benefits of Al for SMEs.

     Toluwalope noted that the insight gathered would inform creation of training, funding, and support programmes, while examining policies to foster a more favourable environment for Al integration.

    To ensure every spectrum is covered, he added the groups would employ qualitative and quantitative methods, starting with a pilot test of 30 SMEs to validate our research tools, while the main e-survey will target 3,000 SMEs.

    He said: “Our commitment is not limited to a single region; it spans the nation. To ensure our findings are comprehensive and inclusive, we will be commencing Focus Group Discussions (FGDs) in five key zones: supplemented by FGDs in Lagos, Kano, Abuja, Enugu, and Rivers.

    EDC Director for Programmes and Partnerships, Dr. Olawale Anifowose, said given the business environment, it’s imperative for Nigeria to embrace AI.

    He said products would be developed,  ideas and benefits would spring forth with knowledge from the survey.

  • eTranzact commits to more innovation 

    eTranzact commits to more innovation 

    eTranzact has won the Most Innovative Payment Services Company 2024 award at African Brands Innovators Forum.

    The award reinforces its position as a force in the fintech landscape.

    With top African brands from Fintech, FMCG, Oil & Gas, Financial Services, and IT present, the ceremony was a celebration of excellence.

    Presenting the award, Chairman and Chief Convener of African Brands Innovators Forum, Desmond Esorougwe, described the company as pivotal to the growth of Africa’s financial ecosystem.

    Read Also: First Dangote PMS delivery set for September

    Head & General Counsel of eTranzact Group, Eme Godwin, receiving the award, said: “This win is not just for eTranzact but for our partners and customers, at home and abroad.”

    Managing Director/Chief Executive Officer, Niyi Toluwalope, appreciated the technical jury, and expressed optimism about the future.

    “This recognition fuels our commitment to pushing boundaries and delivering innovative solutions that drive the industry forward.

    ‘‘eTranzact’s triumph is a proof to its drive for innovation and its commitment to enhancing financial services in Africa.’’

  • eTranzact unfolds growth plan

    eTranzact unfolds growth plan

    eTranzact has unveiled a vision and strategy that will enable it engage and win with stakeholders. Announcing the development during eTranzact’s participation in the Nigerian Stock Exchange (NGX) “Facts Behind Figures” webinar in Lagos, its CEO Niyi Toluwalope, said the company’s vision is built on three core pillars of full service switching, merchant marketplace play, and direct to consumer market transactions.

    The event presented opportunity for the company to unveil its financial performance and strategic direction to investors and stakeholders and featured eTranzact’s executive management team.

    NGX Managing Director, Jude Chiemeka, lauded eTranzact’s management, highlighting the importance of such events in bolstering investor confidence through transparency and accurate information.

    Leading the presentation, Toluwalope revealed eTranzact’s transaction growth, citing a transaction volume of N79 trillion in 2023, a representing 40 per cent increase from the previous year.

    He emphasised the company’s consistency in transaction processing, boasting a 99.5 per cent success rate and a maximum processing speed of 1.2 seconds per transaction.

    Chief Financial Officer, eTranzact Plc, Emmanuel Ogunji reported significant growth in cash and cash equivalents from N11.5 billion in 2022 to N19.6 billion in 2023.

    He also highlighted a gross revenue growth of N33.9 billion, a 50 per cent increase, and a net revenue of N9.2 billion, a 51 per cent rise from 2022. The company’s gross profit for financial year 2023 stood at N8.3 billion.

    Read Also: FCMB Unit CEO canvasses innovation, resilience amid economic challenges

    Toluwalope affirmed, “Our strategy is to continually engage our stakeholders and win their trust through exceptional service and innovative solutions. We are committed to driving growth and delivering value to our investors.”

    The “Facts Behind Figures” webinar not only showcased eTranzact’s strong financial health but also its strategic vision for future growth. The management team outlined plans to expand service offerings and enhance technological infrastructure, ensuring eTranzact maintains its competitive edge in the fintech industry.

    As the only super fintech and payment switching platform listed on the Nigerian Stock Exchange, eTranzact continues to lead the market with its innovative solutions and unwavering commitment to excellence.

  • eTranzact deploys digital system for military pensions (brief)

    eTranzact deploys digital system for military pensions (brief)

    eTranzact, has announced its role as the technology solution provider for the Military Pensions Board’s new digital verification system for military pensioners, officially launched on July 1, 2024.

    In a press statement, the company said that the initiative marks a significant milestone in leveraging technology to streamline pension verification processes and enhance the welfare of military retirees across Nigeria.

    It also stated that with Federal Government approval, the Military Pensions Board is transitioning from traditional physical verification methods to an advanced electronic system developed and deployed by eTranzact.

    “This transition aims to minimize travel risks, reduce transportation costs, and accommodate the advanced age of many pensioners. Air Vice Marshal Paul Irumheson, Chairman of the Military Pensions Board, emphasized the necessity of this transition, stating that the move to electronic verification is crucial for the safety and convenience of military pensioners. This innovative solution will ensure that retirees can verify their status from anywhere in the world, significantly reducing the burden of travel and associated risks.

    “The successful pilot exercise conducted between February 15 and March 1, 2024, demonstrated the efficiency and reliability of the new system. In addition to developing the verification system, eTranzact has managed salary payments for other government agencies. The implementation of this electronic verification system is a critical step towards ensuring foolproof and seamless payment processes within the Military Pensions Board.

    Read Also: FG orders 37 contractors to deliver 260 emergency road projects in three months

    “Minister of State for Defence, Dr. Bello Matawalle, and the Chief of Defence Staff, General Christopher Musa, have endorsed the electronic verification exercise, recognizing its potential to revolutionise the military pensions system. The key benefits of the digital verification system include enhanced security by reducing the risk of identity fraud and impersonation, convenience by allowing pensioners to complete verification from their homes, cost efficiency by eliminating the need for travel, and accessibility by accommodating pensioners residing both within and outside Nigeria,’’ the statement read.

    CEO of eTranzact, Niyi Toluwalope, expressed his enthusiasm for the partnership, saying, “We are honoured to collaborate with the Military Pensions Board on this transformative project. At eTranzact, we are committed to harnessing the power of technology to solve critical challenges and improve the quality of life of Nigerians. This digital verification system affirms our dedication to innovation and excellence.