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Tranzfar Launches The Freedom Account in Nigeria

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L-r: Dr. Olusiji Sanya, Chief Financial Officer, Tranzfar; Mr. Bankole Eniola, Chairman, Tranzfar, and Ryan Romeo, Chief Executive Officer, Tranzfar, during the launch of Freedom Account by Tranzfar in Lagos, recently.
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Tranzfar, an international payment solution provider focused on cross-border money transfers from the United Kingdom, United States, 27 EU countries, Canada, New Zealand and Australia to Nigeria, Ghana and Kenya has recently launched its latest innovative product ‘The Freedom bank Account’ in Nigeria.

 

The Freedom Account allows customers in Nigeria to open and manage their own United Kingdom foreign account for instant payments across UK bank accounts.

In his opening speech, the Chairman Tranzfar, Mr. Bankole Eniola said that the Freedom account was carefully designed to give people in Nigeria, Ghana and Kenya the opportunity to bank globally in over 30 countries where Tranzfar currently have footprint.

Bankole further added that ‘Tranzfar is about making payment seamless across the globe and aspiring to become the world’s leading African financial technology platform, providing innovative digital financial products on behalf of the African diaspora communities and users across the globe.’

Mr. Ryan Romeo, the Chief Executive Officer of Tranzfar, added that ‘Tranzfar is dedicated to ameliorating the challenges a lot of the Africans in diaspora and those within Africa face daily financially. Within the diaspora itself, a lot of Africans suffer limited financial accessibility and limited access to basic financial amenities.

The introduction of Freedom Bank Account will guarantee a seamless payment of overseas bills, utilities and obligations. Beyond that within the continent itself, there is volatile exchange rate that leads to a big and enlarged devaluation of people’s wealth.

Tranzfar is trying to bring Africans in diaspora back into the fold and give them the financial access that they are currently deprived of. The Freedom Account gives the opportunity for increased financial participation for those within African and Africans in diaspora.’

Dr. Olusiji Sanya, the Chief Financial Officer of Tranzfar, added that, Tranzfar is committed to fostering a potent link between Africa and the rest of the world through trustworthy financial solutions and remains committed to the development of the Nigerian financial society through fast, easy, and reliable services.

With the launch of the ‘Freedom Bank Account’, Nigerians can be rest assured of the promise of Top-notch service delivery and a financial platform they can rely on each time they need to and on whatever channel they choose whether it be our mobile App or website.’

The Freedom Account will give Nigerians at home and in diaspora the financial freedom through the ease of making payments in countries where Tranzfar operates. Tranzfar is also regulated by the different financial regulatory bodies in the UK, US, Canada, Australia and other countries where they operate to ensure conformity and safety of customer funds.

Thus, they are committed to providing innovative, seamless, and safe payment solutions at all times especially to those within the African continent.

 


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E-Financial

Kuda Bank Teams Up with Lovers & Frnds for Inclusive Valentine’s R&B Bash

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Kuda Microfinance Bank partnered with Lovers & Frnds for a Valentine’s edition event on Sunday, February 15, at Space Hub Lekki, Lagos, redefining celebrations around love, friendship, and social connections beyond romance.

Kuda Bank Teams Up with Lovers & Frnds for Inclusive Valentine’s R&B Bash

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The R&B-themed gathering drew couples, friend groups, and solo attendees with music sets from DJs like TGarbs, games, gift exchanges, and colour-coded tags—red for relationships, yellow for mingling singles, orange for non-minglers—to spark easy interactions.

Kuda activated a branded photo booth, merchandise giveaways, prize activities, and complimentary drinks for Premium loyalty tier customers, while vendors used Kuda Business POS terminals for seamless cashless payments.

Senior Brand Manager Emmanuel Femi-Adejobi said: “We partner with experiences matching our customers’ lifestyles in music and entertainment, creating spaces they genuinely connect with—we’ll keep supporting how they live and celebrate.”


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CBN Slashes Rate by 50bps

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By Mathew Anthony, Market Analyst at FXTM

In another positive development for Nigeria, the CBN has proceeded with 50-basis points rate cut.

CBN Slashes Rate by 50bps

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With favourable fundamental forces at play, it was always a question of how much rather than if rates will be cut in February.

Although some were expecting a hefty 100-basis point cut, this was still a positive move by the CBN, mirroring the dovish strategy of other major banks on the continent.

Interest rates were slashed thanks to cooling inflationary pressures, a stronger Naira and rising FX reserves.

This move is likely to boost confidence over the economic outlook ahead of the Q4 GDP report scheduled for release later this month.


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CBN Cuts MPR by 50bps to 26.50% as Inflation Eases for 11th Month

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Central Bank of Nigeria (CBN) has lowered its Monetary Policy Rate (MPR) by 50 basis points to 26.50 percent from 27 percent, a unanimous decision announced by Governor Olayemi Cardoso at the end of the 304th Monetary Policy Committee (MPC) meeting in Abuja on Tuesday.

CBN Cuts MPR by 50bps to 26.50% as Inflation Eases for 11th Month

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Cardoso cited 11 straight months of decelerating headline inflation—reaching 15.10 percent in January 2026 per National Bureau of Statistics—as key, driven by prior tightening lags, naira stability, food supply gains, steady petroleum prices, export earnings, remittances, and balance of payments strength.

Liquidity ratio stays at 30 percent, CRR unchanged at 45 percent for commercial banks (16 percent merchant banks) and 75 percent non-TSA public deposits; standing facilities corridor now +50/-450 basis points around MPR.

The MPC retained other parameters, welcoming Executive Order 09 redirecting oil/gas revenues to the federation account for fiscal boost, last cutting rates in September 2025 after November’s hold.


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