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ALAT By Wema wins Overall Best Mobile App in Nigerian Fintech Awards

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ALAT By Wema, the first fully digitalized bank in Nigeria, has been named the Overall Best Mobile App in the Nigerian FinTech Awards 2022, beating the other FinTech apps nominated alongside it in the category in the platform’s shortlist. The announcement was made at the award ceremony in Lagos, on Friday 4 November 2022.

In its 10th year, the Nigerian Fintech Awards was founded by Fintech Africa, one of Africa’s oldest and most influential publications on financial technology to honour excellence in product designs and service delivery in financial technologies. The Overall Best Mobile App, won by ALAT By Wema, according to the organizers, is in recognition of the digital bank’s contribution to the Fintech world.

ALAT By Wema, the first fully digital bank in Nigeria, was launched in May 2017 by Wema Bank Plc, the country’s oldest indigenous commercial bank, to drive transformation and redefine experiential banking in the Nigeria’s banking sector.

In its first year, ALAT by Wema gained over 250,000 customers who were responsible for the well over NGN 1.6 billion ($4.48m) deposits. In 2018, the bank closed in the N1 billion ($2.78m) mark in terms of deposits into savings accounts.

Olusegun Adeniyi, Chief Digital Officer, Wema Bank expressed his joy at the award, saying that the honour is only the icing on the cake of transformation that ALAT By Wema has brought to the banking industry in Nigeria.

“We are delighted at being named as the Overall Best Mobile App by the august platform, which is dedicated to honoring excellence in financial technologies and services companies and products. The award is complimentary to the excitement that the multi-award-winning app has brought to its numerous individual and corporate subscribers.”

He informed that ALAT By Wema, which matches customers’ lifestyles, is helping its subscribers save more with access to exclusive group and personal savings, free debit cards, and up to four percent annual interest in savings.

Adeniyi said that since its launch in May 2017, ALAT By Wema, the branchless and paperless bank has reduced the stress of having to walk into a branch to open an account by providing a seamless sign-up process using a mobile phone, PC or tablet. The ALAT By Wema app, unlike other banking apps, provides all the banking services the customer could ask for.

“All banking apps only offer some banking services, typically airtime purchases, bill payments and transfers. For example, even with a banking app, customers usually still need to go to a physical bank to get a debit card and activate it, submit documents and often, get some kinds of customer support. This is not the case with ALAT, which was built from scratch to be entirely digital, making all banking services available to the customers anywhere they can access the internet.”

 


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LIRS to Invoke NTAA to Recover Unpaid Taxes from Bank Accounts, Others

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Lagos Internal Revenue Service (LIRS) pursuant to Section 60 of the Nigeria Tax Administration Act (NTAA), plans to ask Nigerian banks to debit bank accounts of employers who failed to remit tax liability.

LIRS to Invoke NTAA to Recover Unpaid Taxes from Bank Accounts

This was disclosed in a recent notice on Sunday.

LIRS stressed that the move was in line with the implementation of the country’s NTAA and other new tax laws, which took effect on January 1, 2026.

“Where a taxpayer fails, neglects, or refuses to settle any established outstanding tax liability when due, LIRS may exercise its power under Section 60 to direct any of the following persons to pay the amount owed by the taxpayer:

“Banks and other financial institutions; Employers; tenants, debtors, or customers of the taxpayer; Agents, business partners, and any person holding money on behalf of the taxpayer; Any person owing money to the taxpayer, whether presently due or accruing. Once a substitution notice is issued, the person served is statutorily required to remit to LIRS the amount. Specified in the notice from funds belonging to, or payable to, the defaulting taxpayer,” the LIRS notice partly read.

Meanwhile, Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, weeks ago ruled out claims that the government would debit personal accounts over tax remittances.


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Anambra Cuts Monday Pay to Kill Sit-at-Home

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Anambra State will implement pro-rata salary payments for civil servants starting February 2026, targeting chronic Monday absenteeism from the long-running sit-at-home order, Information Commissioner Dr. Law Mefor announced Saturday.

Anambra Cuts Monday Pay to Kill Sit-at-Home

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Speaking at an Awka briefing after the Executive Council’s end-of-tenure retreat, Mefor said improved security and transport have eliminated excuses for the four-year disruption, which cost the state trillions in lost revenue. “Workers enjoyed full pay despite staying away; now, no work means no pay for that day, calculated over 24 working days,” he stated.

Compliance measures include mandatory Monday clock-in forms, with markets urged to reopen fully amid bolstered security. This builds on a January 22 executive order docking 20% pay from teachers absent on Mondays.

Mefor warned that lost Mondays cripple revenue collection and productivity, rejecting alternatives like Saturday shifts as capitulation to agitators.


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Stakeholders Demand Stronger Governance and Infrastructure to Drive Tech Adoption @ Lagos AI Summit

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As AI adoption accelerates across Nigeria, leaders at the “AI in Action Now” conference 2026 have called for a balance between rapid innovation and strict regulatory governance. The event, held at the Lagos Oriental Hotel, highlighted both the doggedness of Nigerian builders and the risks of unregulated data usage.

Dotun Adeoye, Co-Founder of AI Nigeria, raised alarms over “Shadow AI”, a trend where employees upload sensitive official documents to public AI platforms. He praised the Nigerian Data Protection Commission (NDPC) for its recent aggressive stance, including multi-million-dollar fines against major banks and social media brands.

“Innovation without governance is dangerous. The regulator now has the job of educating players. We are working in partnership with them to ensure players don’t just get fined, but actually understand how to protect data locally rather than storing it abroad, ” Adeoye noted.

Addressing issues of lack of infrastructure to carry AI adoption, Conference Convener Debola Ibiyode admitted that while Nigeria lacks the traditional foundation for AI adoption, the tech community cannot afford to wait.

“The simple answer is we don’t have the infrastructure, but Nigeria has never really had infrastructure to drive anything, and we still thrive, ” Iboyode said, encouraging students and builders to look beyond current limitations. “Once we start to build based on what we have now, it will encourage those who need to provide the infrastructure to do their part. The world will not wait for us,” she insisted.

To bridge this gap, she highlighted the AI Foundry Africa, an incubator designed to mentor ideas into market-ready products.

Meanwhile, speaking to journalists on the sidelines, Biodun Ogunleye, the Lagos State Commissioner of Energy and Mineral Resources, echoed the sentiment that the government’s role is to facilitate the right environment through partnership. He emphasized that data generated from interactions with the government must have long-term value.

“We must ensure that in all facets from production to interaction with government, the tools required to ensure data has value are appreciated,” Ogunleye stated.

He concluded that through private-sector collaboration, the government can focus on its primary functions while leveraging AI to ensure the nation aspires for the future.


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