E-Financial
Kuda Appoints New Management Officers, Sets for International Expansion
Kuda, the Money App for Africans is poised to stamp its footprint in the global banking industry with the appointment of Pavel Khristolubov and Elena Lavezzi as its new Chief Operating Officer (COO) and Chief Strategy Officer (CSO), respectively at the group level.
The appointments, which were the outcome of a diligent recruitment process aimed at acquiring fit-for-purpose candidates to help in driving the vision and mission of the financial institution, were recently announced by the Board of Directors of Kuda Technologies Limited.
Pavel Khristolubov joined Kuda Technologies Limited from the Tinkoff Bank, a commercial bank in Eastern Europe, where he was responsible for managing efficiency of the workforce both on product development teams and operational platforms.
During his tenure as COO, the bank’s client base grew from seven million to 22 million active clients, and his focus was to keep quality and cost levels under control and implementation of required processes and approaches to scale product and operations teams to meet the challenges of growth.
Prior to his work at Tinkoff Bank, he served as a member of the executive team of DXC Luxoft, a software development company, supporting the company’s growth from the very start to when it became a global player with 20,000 engineers working across 20 countries and locations of the world.
His responsibilities included establishing company processes and ensuring efficiency of its management, and onboarding of acquired companies.
Similarly, Elena Lavezzi, an Italian, brings with her, a vast experience garnered over the years from reputable fintech companies including Circle, a global firm that is at the forefront of digital currency innovation, where she rose to the position of Director, Go-To-Market Retail Europe.
More recently, Lavezzi led the Southern European region at Revolut for three years, overseeing growth, business development and marketing before shifting her focus to regulatory matters last year.
Lavezzi had earlier worked at Uber where she served as Marketing Manager for four years. She helped Uber launch in the Italian market before moving on to support the growth of the Indian market.
On his appointment at Kuda Technologies, the new COO said he is excited to join the management team and is looking forward to making his contributions towards the achievement of the overall corporate goals.
“When investors from Target Global introduced me to the Co-Founder of Kuda, Babs Ogundeyi, I learned a story of an ambitious business enterprise, driven by very humane and people-centric values.
“I believe in the mission of the company and hope my experience and efforts will help it along the way to realisation of our goals,”stated Khristolubov.
In her remarks, Lavezzi, informed that she is fascinated by the amazing team that drives the corporate goals as well as Kuda’s offering.
“The team is amazing. All the people I have met are very talented and have a clear vision of what they want to build. Kuda is building a strong product, providing financial services through its apps and allowing millions of people with internet access to operate a spending account, access instant credit, save money automatically and earn annual interest without the burden of traditional bank charges,”Lavezzi stated.
Talking about the expansion plans of the company, Lavezzi added: “Kuda is well recognised in the African market, and has very ambitious expansion plans for the next few months.
“Backed by top tier venture capitalists like Target Global and Valar that have over a decade of experience in partnering with the most visionary founders across different industries around the world, I believe Kuda has all the ingredients to become a fintech leader in Africa and even beyond”.
Kuda (via its operating entity, Kuda MFB Limited) provides financial services to over four million Nigerians through its suite of mobile and web apps. Its customers can operate a spending account, access instant credit, save money automatically and earn annual interest without paying traditional bank charges such as card maintenance fees, account maintenance fees and excessive transfer fees.
Nigeria Deposit Insurance Corporation (NDIC) has urged youths to shun investment scams and embrace the habit of saving.
NDIC said that for a nation to be prosperous, its citizens must learn to build legitimate wealth through savings and then advance to investment.
Mr Adegbenga Fagbuyi, assistant director, Communication and Corporate Affairs, NDIC, made the remarks while addressing students of Lagelu Grammar School, Ibadan, during the 2026 Financial Literacy Day.
Delivering his speech on “Smart Money,” Fagbuyi highlighted the importance of having basic knowledge of the financial system, making sound financial decisions, understanding the benefits of saving in banks, setting financial goals, maintaining financial discipline, and avoiding Ponzi schemes that promise high returns.
Fagbuyi said youths are among the major targets of the government’s financial inclusion drive, adding that the Financial Literacy Day formed part of activities marking Global Money Week, adopted by the Bankers’ Committee in Nigeria as a platform for mentoring youths on savings and investment.
He said, “The government wants everybody to be participants in the financial sector. But how can you be a participant if you don’t know how to save? How can you be a participant if you cannot convert your savings into an investment? So, most importantly, youths are one of the major targets of the financial inclusion drive of the government.”
Fagbuyi described financial inclusion as bringing everybody into the financial safety net by encouraging participation in banking, insurance, pensions, and the capital market.
He stressed that the government does not want youths to become adults who lack knowledge of safe banking practices, insurance, and the capital market.
“Government does not want them to grow old, to become adults who do not know about savings, safe banking habits, insurance, and the capital market. That is why we go to schools to sensitise students to all these basic financial matters, particularly savings, so that our students can begin to learn to save, learn credible investment habits through which they can be making legitimate income.
“We also educate them about the deposit insurance system administered by NDIC. When you save in banks, the banks are supervised and regulated. And if eventually they fail, you will not lose your money. That is what NDIC does,” Fagbuyi said.
He revealed that the sensitisation programme, which started about 10 years ago and is organised by the Bankers’ Committee, comprising the Central Bank of Nigeria, the Nigeria Deposit Insurance Corporation, and all the deposit money banks in Nigeria, has been held across states nationwide.
He said, “Minimum, every year, we go to 10 states. And we normally sensitise 200 students in each school. So this year, that means we are targeting 2,000 students.”
Fagbuyi, however, said the objective of the programme is not to cover all schools across the country but to set a standard for state governments and schools to replicate.
“But I must emphasise that the objective is not to cover all schools. It is to set a standard for state governments and for schools to replicate. You agree with me that we cannot be everywhere.
“But as a partner, as a key stakeholder in the financial inclusion drive of the federal government, we go to states to showcase what the government’s intention, so that states and schools can replicate. So it is on this note that we always urge states’ Ministries of Education, Science and Technology to replicate and expand these programmes across their respective states.”
In his address, Olusegun Olayiwola, Oyo State Commissioner for Education, Science and Technology, represented by Alhaji Lukuman Kareem, permanent secretary, Education Inspectorate, Ibadan North, commended the NDIC for selecting a school in Ibadan for the financial literacy sensitisation programme.
He noted that such initiatives must go beyond the classroom to shape young minds, adding that children cannot achieve expected outcomes unless they are properly guided.
“That’s why we significantly appreciate the efforts of the Bankers’ Committee, NDIC, the Central Bank of Nigeria, and all other members for this,” he said.
The commissioner charged the students to take the lessons seriously, noting that opportunities lost may not be easily regained. He also advised the NDIC to expand the programme to include students from neighbouring schools in future editions to maximise its impact without additional transportation costs.
Additionally, Olayiwola urged teachers to cascade the training to other students, who should in turn enlighten their siblings at home.
Nigeria Revenue Service (NRS) has set a July 31 deadline for all large taxpayers to wholly adopt the national e-invoicing and electronic fiscal system (EFS)- called digital exchange of structured invoice data between a supplier and a buyer.
This is sequel to a public notice issued by NRS on February 17, 2026 on the implementation timeline and the mandatory adoption of the national e-invoicing and EFS otherwise known as the Merchant Buyer Solution (MBS).
Zacch Adedeji, chairman, NRS, personally signed the public notice informing all large taxpayers of the need to complete the onboarding, integration, testing, and commencement of invoice transmission to the NRS e-invoicing platform in accordance with the prescribed implementation framework.
According to a statement issued on Sunday by Dare Adekanmbi, special adviser on Media to the chairman, “NRS has already commenced compliance monitoring activities in order to assess the level of adherence to the e-invoicing mandate among large taxpayers.
“Consequently, any defaulting member may be subjected to appropriate regulatory and enforcement actions in accordance with the provisions of the relevant tax laws and regulations.
“Affected taxpayers are, therefore, advised to urgently conclude all outstanding onboarding and integration activities and commence invoice transmission before the compliance deadline.
“The NRS appreciates the cooperation of taxpayers and remains committed to providing the necessary support to ensure the successful implementation of the national e-invoicing regime,” the notice said.
Large taxpayers are companies with gross turnover of N5 billion and above.
As of the first quarter of this year, over 1,000 companies had complied.
Compliance with the e-invoicing and Electronic Fiscal System covers the completion of onboarding on the NRS Merchant Buyer Solution (MBS) and successful integration of taxpayer systems through approved Access Point Providers (APPs) and/or systems Integrators (SIs).
Others are completion of all required validation and testing activities; active transmission of invoices to the NRS e-invoicing platform in line with approved standards and guidelines; and ensuring the receipt of only compliant e-invoices with valid Invoice Reference Number (RIN) from suppliers.
Access Holdings Plc has completed the sale of a 7.44% stake in its Ghanaian subsidiary, a move believe is tied to a Central Bank of Nigeria (CBN) rule capping how much local banks can hold in foreign units.
This was disclosed in a filing with the Ghana Stock Exchange (GSE) recently, which was obtained by our reporter over the weekend.
The corporate disclosure signed by the Company Secretary, Helen De Cardi Nelson, Access Bank (Ghana) Plc, stated that the outcome of the transaction reflects continued investor interest in Access Bank (Ghana) Plc and confidence in the long-term prospects of the Bank.
According to the release, the sale attracted strong participation from a well-diversified pool of investors, including pension funds, institutional investors and high-net-worth individuals.
Access Bank (Ghana) Plc, listed on the Ghana Stock Exchange, disclosed that its parent, Access Bank Plc, sold 12,085,318 ordinary shares representing 7.44% of the unit’s issued shares on July 15, 2026.
The sale went through the Ghana Stock Exchange with regulatory clearance, including a no-objection from the Bank of Ghana.
Buyers included pension funds, institutional investors, and high-net-worth individuals. IC Securities (Ghana) Ltd acted as adviser and executing broker.
Commenting on the deal, Managing Director of Access Bank (Ghana), Ms. Pearl Nkrumah, said the transaction deepens local ownership and liquidity in the bank’s shares, and keeps management focused on turning its scale into value for stakeholders.
Before the sale, Access Bank Plc held 93.40% of Access Bank Ghana, with the remaining 6.60% already in the hands of other shareholders from the unit’s GSE listing.
Stake sold: 7.44%; Estimated holding after the sale: 85.96%; Public and other investors: approximately 14.04%
Access Holdings therefore retains firm majority control of its Ghanaian unit; this is a partial dilution, not an exit.
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