ChatPay has launched Africa’s conversational banking platform, enabling individuals and businesses to access financial services through WhatsApp.

The Lagos-based fintech startup, is in controlled rollout, connecting WhatsApp to linked-bank management, airtime and supported electricity payments through simple conversations.

The company said the platform is designed to enable users to send money, pay bills, buy airtime and manage business transactions within WhatsApp conversations, subject to the completion of regulatory approvals and integration with licensed banking partners.

According to ChatPay, the platform is operated by CP Technology Limited and is currently undergoing a phased rollout ahead of its planned public launch.

The company said the initiative is intended to simplify access to financial services by leveraging WhatsApp, which it estimates is used by more than 50 million Nigerians monthly.

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Speaking on the idea behind the platform, Adeoluwasubomi Odebunmi, product lead and co-founder, said the concept emerged while she was studying Software Engineering at Babcock University.

“I saw the gap while I was still in school—how much friction there was just to move money. I didn’t want to just study the problem. I wanted to help fix it,” she said.

Odebunmi said she had previously worked on software solutions spanning e-commerce, real estate management, school administration and artificial intelligence applications before co-founding ChatPay.

Aseoluwa Siyanbola, growth lead and co-founder, said his experience managing Nigerian bank accounts while studying abroad highlighted some of the challenges users face with digital banking services.

According to him, difficulties such as one-time password (OTP) failures and inconsistent banking applications inspired the team to explore conversational banking solutions.

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“We each encountered similar challenges and came together to build a solution that simplifies everyday financial transactions,” he said.

cAbraham William, tech lead and co-founder, said the company is focused on improving access to financial services through a platform that many Nigerians already use daily.

“We want to make financial services easier to access by allowing people to carry out transactions through a familiar messaging platform,” he said.

William said he oversees the company’s engineering, technology strategy and system architecture.

ChatPay said its services will be introduced in phases as regulatory requirements are met and integrations with banking partners are completed.

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The company added that its newly launched “Founding 2,500” programme will enable selected early users to test features, provide feedback and participate in product development before the platform’s wider rollout.

According to the company, interested users can register for the waitlist and the Founding 2,500 programme through its website.

Founded by Odebunmi, Siyanbola and William, ChatPay said its long-term goal is to expand conversational banking services beyond Nigeria into other African markets after its domestic rollout.

United Bank for Africa (UBA) Plc has been named Nigeria’s Best Bank for Retail Banking and Best Bank for Sustainability Leadership (ESG) at the 2026 Euromoney Awards for Excellence, reinforcing its position as one of Africa’s leading financial institutions.

The awards were presented on July 17 at The Peninsula London in the United Kingdom, recognising financial institutions that have demonstrated outstanding performance, innovation, customer impact and sustainable banking practices.

The double recognition highlights UBA’s growing influence in retail banking and its commitment to advancing environmental, social and governance (ESG) principles across its operations.

According to Euromoney, UBA distinguished itself through a series of sustainability initiatives, including the introduction of a Green Financing Facility designed to support households and businesses transitioning to renewable energy.

The publication also cited the bank’s ₦5 billion financing programme, implemented in partnership with the Bank of Industry (BOI), to provide funding for women-owned businesses.

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Euromoney further recognised UBA’s commitment to achieving net-zero carbon emissions by 2050, describing it as a demonstration of the bank’s long-term sustainability strategy.

The publication also highlighted the bank’s efforts to integrate sustainability into its operations through the deployment of solar-powered energy solutions across 50 branches and comprehensive ESG capacity-building programmes that have trained more than 16,000 employees across the UBA Group.

In the retail banking category, Euromoney noted that UBA continued to consolidate its position as one of Africa’s largest retail banking institutions.

According to the publication, the bank expanded its customer base to more than 37 million by the end of 2025, while retail banking revenue increased more than fourfold to ₦429.5 billion.

The awards also recognised UBA’s continued investment in digital banking innovation, particularly enhancements to its artificial intelligence-powered chatbot, LEO.

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Euromoney noted that LEO became Africa’s first AI-powered banking platform to facilitate cross-border money transfers in local currencies through the Pan-African Payment and Settlement System (PAPSS).

Commenting on the awards, UBA’s Group Managing Director and Chief Executive Officer, Mr Oliver Alawuba, described the recognition as a validation of the bank’s commitment to delivering value to customers while promoting sustainable development across Africa.

“To be recognised as Nigeria’s Best Bank for both ESG and Retail Banking in the same year sends a powerful message that sustainable banking and commercial success are mutually reinforcing.

“At UBA, we are committed to financing Africa’s future, supporting businesses and communities, promoting financial inclusion, and delivering innovative banking solutions that improve lives.

“These awards belong to our customers for their confidence in us and to every member of the UBA family whose dedication continues to make our vision a reality,” he said.

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Also speaking, UBA’s Group Head, Marketing, Brand and Corporate Communications, Mrs Alero Ladipo, said the awards reflected the bank’s unwavering commitment to putting customers at the centre of its operations.

According to her, every innovation, investment and banking solution introduced by UBA is aimed at creating exceptional value for customers while expanding access to financial services.

“These awards are a powerful affirmation of our Customer First philosophy.

“Whether it is supporting entrepreneurs with access to finance, enabling seamless digital payments, advancing clean energy financing or expanding financial inclusion across Africa, UBA remains focused on delivering meaningful impact.

“We are honoured that one of the world’s most respected financial publications has recognised these efforts,” she said.

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UBA currently operates in 20 African countries, as well as the United Kingdom, United States, France and the United Arab Emirates, serving more than 45 million customers through a combination of digital banking platforms and physical branch networks.

The bank said it remains committed to strengthening financial inclusion, driving innovation and supporting sustainable economic development across Africa and beyond.

Mr Taiwo Oyedele, minister of Finance and Coordinating Minister of the Economy, has warned that fear, rumours and misinformation could trigger instability in the banking sector if not properly managed.

Mr Taiwo Oyedele, minister of Finance and Coordinating Minister of the Economy

Oyedele gave the warning in Abuja at the 2026 International Association of Deposit Insurers (IADI) Africa Regional Committee (ARC) Annual Meeting and Workshop, with the theme: “Safeguarding Stability: Public Awareness and Crisis Readiness for a Stronger Future.”

The minister said public confidence remained the foundation of every stable financial system, stressing that panic triggered by false information could create liquidity challenges even for financially sound institutions.

According to him, “there can be no economic growth without financial system stability, and there can be no financial stability without public trust.”

He explained that in the digital age, misinformation could spread rapidly across social media platforms, causing depositors to react out of fear.

“Public trust is fragile. In the digital age, rumours and misinformation can spread across social platforms in seconds, creating liquidity shocks even for solvent institutions,” Oyedele said.

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He stressed that building public awareness should not be viewed as a public relations activity, but as a key risk management strategy capable of protecting depositors and strengthening the financial system.

Oyedele noted that deposit insurance had evolved beyond a mechanism for handling bank failures, describing it as a strategic tool for promoting confidence and economic stability.

He said effective crisis preparedness required clear frameworks, communication channels, simulation exercises and coordination among financial sector regulators before emergencies occur.

“Preparedness is not an event, it is a culture,” he said, adding that the strongest crisis response was one that prevented panic from occurring in the first place.

Highlighting Nigeria’s financial sector reforms, the minister said the country’s banking recapitalisation exercise, concluded in March 2026, strengthened the resilience of banks.

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He disclosed that 33 out of Nigeria’s 37 banks met the new capital requirements, raising a combined N4.65 trillion in fresh capital, with over 70 per cent sourced from domestic investors.

Oyedele said a better-capitalised banking system would be better positioned to absorb shocks, sustain lending and reduce pressure on the deposit insurance fund.

He also pointed to Nigeria’s removal from the Financial Action Task Force (FATF) grey list in October 2025 as another milestone that strengthened confidence in the country’s financial system.

Also speaking, Mr Olayemi Cardoso, governor, Central Bank of Nigeria (CBN), said public awareness and crisis preparedness were central to maintaining financial stability.

Represented by Solaja Olayemi, director, Other Financial Institutions Supervision Department represented, Cardoso said financial systems globally were undergoing rapid transformation due to technological innovation, digital finance, changing consumer behaviour and increasing market interconnectedness.

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According to him, while these developments create opportunities, they also introduce new risks that require stronger cooperation among financial safety-net institutions.

The CBN boss warned that misinformation could spread quickly through digital channels, amplifying depositor reactions and creating potential threats to financial stability.

He added that institutions must continuously strengthen crisis management frameworks, operational resilience and coordination mechanisms to respond effectively to emerging challenges.

The apex bank governor also highlighted the impact of Nigeria’s banking sector recapitalisation policy, saying stronger capital buffers would reduce the likelihood of bank failures and reinforce depositor confidence.

“No single institution can safeguard financial stability in isolation. It is through the coherence and complementarity of this institutional relationship that Nigeria’s financial safety net derives its strength,” he noted.

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Earlier, Mr Thompson Sunday, managing director/chief executive officer, Nigeria Deposit Insurance Corporation (NDIC),  said confidence remained the most valuable asset in any financial system.

The NDIC boss said trust could take years to build but could be lost quickly if stakeholders perceived uncertainty or instability. He said deposit insurers must ensure that the public understands and trusts existing protection frameworks during both normal periods and times of crisis.

He noted that the 2023 global banking turmoil highlighted the need for institutions to invest in crisis simulation exercises, contingency planning and effective communication strategies.

According to him, the NDIC has continued to strengthen its operational readiness through improved depositor reimbursement systems, public awareness initiatives and enhanced crisis management capabilities.

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