E-Financial
GSMA Outlines Details of NFC Experience

The GSMA has announced details of the NFC Experience at the NFC & Mobile Money Summit 2013, which will be delivered in conjunction with Isis, the NFC Experience Official Sponsor.
All show attendees with NFC-enabled smartphones will be able to participate in the NFC Experience at this year’s NFC & Mobile Money Summit, which will take place at the Metropolitan Pavilion in New York on 14-17 October. Services showcased in the NFC Experience include the Isis Mobile Wallet, as well as the My BTAGS app from ITN International.
“At this year’s event in North America, the GSMA is bringing together key leaders in the mobile, financial and retail sectors to stimulate conversation and collaboration and to discuss key opportunities and challenges faced by the mobile commerce ecosystem,” said Michael O’Hara, Chief Marketing Officer, GSMA.
“The NFC Experience will enable our attendees to experience first-hand the many innovative products and solutions that are advancing the state of NFC and mobile money today and into the future.”
A key element of the NFC Experience is the Isis Mobile Wallet which holds virtual versions of many things existing in physical wallets, such as select payment and loyalty cards, along with store offers, deals and promotions.
The Mobile Wallet can be used by individuals with NFC-enabled smartphones and NFC & Mobile Money Summit attendees with existing AT&T SIM cards will have the opportunity to exchange their SIM card for a new NFC SIM card, enabling them to use the Isis Mobile Wallet.
A second component of the NFC Experience is the ITN International My BTAGS app, which allows attendees to collect and exchange contact information with other attendees using their NFC-enabled Android phones.
To use, attendees simply tap an appropriate phone on the NFC & Mobile Money Summit event badge to set up an account and then can start tapping the badges of people they want to connect with at the event.
The app stores all the information directly on the phone and is accessible offline through the app.
Showcasing NFC Across Vertical Sectors
The GSMA stand will feature a range of demonstrations from around the globe that illustrate how NFC is benefitting businesses across a range of sectors, showcasing transport, retail, security and e-health scenarios from worldwide partners including Beeline/MTS (Russia), Giesecke & Devrient (Sweden), Proxama (UK), RioCard (Brazil) and Telecom Italia (Italy).
The GSMA and Isis will also offer attendees to the event a tour of select areas of Manhattan powered by NFC. Spaces are limited and further details can be obtained by visiting the GSMA stand during the event.
Exploring Key Issues in NFC and Mobile Money
This year’s NFC & Mobile Money Summit will bring together stakeholders from the mobile ecosystem will to debate the importance of NFC in the mobile commerce landscape, as well as the issues to be overcome to make it a mass-market reality.
The two-day conference will explore topics such as the state of the NFC market; mobile commerce from the retailer’s perspective; and the future of mobile wallets.
The programme will feature keynote presentations from senior executives from organisations including China Mobile, Citi Transaction Services, C-SAM Inc., GlobalPlatform, Isis, MasterCard, MCX, Orange, Rogers Wireless, Scotiabank, Telecom Italia Group and Visa Inc., among others
Beyond the conference and exhibition, the NFC & Mobile Money Summit also includes seminars, meetings and workshops, offering attendees further opportunities to discuss and debate the key issues shaping the industry, as well as network with colleagues and make new contacts.
The hugely popular complimentary ‘Mobile Money Accelerator’ classes will again be held before the main conference sessions, with Ericsson presenting the topic “Putting the US Mobile Money Market in a Global Context” on Tuesday, 15 th October and Fiserv hosting the class “Mobile Money Movement: The Future of Mobile Payments” the following morning.
E-Financial
SEC Alerts Public on Silverkuun, Trending Dubious Investment Schemes

Securities and Exchange Commission (SEC) has warned the public against investing in unregistered investment schemes, including Silverkuun Investment Cooperative Society/Silverkuun Limited.
In a circular issued in Abuja, yesterday, the commission said its attention had been drawn to the activities of these entities, which falsely present themselves as investment advisers and fund managers in the Nigerian capital market.
“The attention of the Securities and Exchange Commission has been drawn to the activities of Silverkuun Investment Cooperative Society/Silverkuun Limited which holds itself out as an Investment Adviser/Fund Manager.
“The Commission hereby informs the public that Silverkuun Investment Cooperative Society/Silverkuun Limited is not registered to operate in any capacity in the Nigerian Capital Market.”
SEC advised the public to refrain from engaging with Silverkuun Investment Cooperative Society/Silverkuun Limited or its representatives in respect of any business in the Nigerian capital market.
“The Commission uses this medium to reiterate that transacting in the Nigerian Capital Market with unregistered and unregulated entities exposes investors to financial risk including fraud and potential loss of investment.
“The investing public is therefore reminded to verify the status of companies and entities offering investment opportunities on the Commission’s portal before transacting with them,” the SEC added.
Dr. Emomotimi Agama, director-general of the SEC, recently warned that the Commission would not hesitate to shut down the operations of such unregistered entities while also ensuring that the promoters are made to face the full weight of the law.
Agama said, “we will shut down their operations and the promoters will be made to face the full weight of the law.
“In a major reform, ISA 2025 officially brings digital assets under the SEC’s regulatory purview, defining them as securities and mandating registration for all virtual asset service providers (VASPs) and digital asset exchanges. This development aims to close the regulatory vacuum that has allowed many Ponzi-style platforms to thrive under the guise of cryptocurrency and digital finance.”
Agama also emphasized the Commission’s education-focused strategy to combat fraud through podcasts, digital campaigns, and the introduction of capital market literacy in schools and universities, the SEC aims to equip Nigerians with the knowledge to detect and avoid dubious investments.
E-Financial
Africa Cross-border Payments Set to Hit $1 trillion by 2035

Africa’s cross-border payments market is on track to hit $1 trillion by 2035, according to a new report by venture capital firm Oui Capital. Titled “Africa’s Cross-Border Payment Landscape—a deep dive into the systems, players, and shifts shaping Africa’s cross-border payment flows,” the report states that the market is currently valued at $329 billion and growing at a compound annual growth rate of 12%.
It identifies Africa’s booming digital adoption, increasing intra-African trade, and a surge in mobile money usage as the key growth drivers.
Despite the impressive growth, the report highlights systemic inefficiencies.
“Legacy rails, double currency conversions, and fragmented regulations still siphon billions in hidden costs,” Oui Capital states, noting that the continent continues to have the highest global remittance costs, averaging 7–8%.
However, digital innovation is helping reshape the landscape. Mobile money is now a key channel, with 30% of Sub-Saharan remittances flowing through mobile wallets.
In 2022, Africa accounted for 66% of global mobile money transaction value, demonstrating the rapid formalisation of what was once a predominantly informal cash ecosystem.
Oui Capital sees significant investment potential in addressing these inefficiencies. “Infrastructure plays—interoperable API layers, decentralised FX liquidity pools, and PAPSS integrations—represent $10 billion-plus opportunities,” the report says.
The Pan-African Payment and Settlement System is one such initiative pushing for local currency settlements and reduced reliance on USD/EUR clearing, which presently adds around $5 billion in annual costs.
According to the report, cryptocurrencies and Stablecoins are emerging as promising alternatives, cutting remittance costs by up to 60% in markets with clear regulations.
“Fintech APIs are already pushing fees as low as 1.5–3%,” the report notes.
Still, the venture capital firm warns that challenges persist as only 55% of African jurisdictions allow full electronic KYC, limiting the scalability of fintech solutions.
The report urges founders to go beyond peer-to-peer transfers by embedding services like lending and insurance.
“Africa’s payments race is now a scale game. Those that solve for liquidity, compliance and cost will define the continent’s digital trade backbone over the next decade,” it concludes.
E-Financial
SANEF, CIBN Partner to Expand Agency Banking Certification

Chartered Institute of Bankers of Nigeria has expanded its Agency Banking Certification Programme through a tripartite collaboration between the Institute, FIC, and SANEF Limited.
This partnership according Prof. Pius Deji Olanrewaju, President/Chairman of Council the Chartered Institute of Bankers of Nigeria, CIBN, is timely and strategic, “as we aim to broaden the reach of the certification across Nigeria’s agent banking sector. With SANEF’s deep integration in the financial inclusion ecosystem and established relationships with leading super agents, we are confident that this collaboration will strengthen the quality and visibility of the programme.
“The goal is clear, to enhance professionalism among agent bankers, support the national financial inclusion strategy, and contribute to building trust and integrity within this growing segment of the financial services sector. This collaboration presents an excellent opportunity for further implementation of the competency framework for the banking industry in Nigeria”.
He noted that the collaboration among others is part of his LEGACY agenda which highlights the multifaceted role of financial institutions in shaping Nigeria’s economic future.
The letter C in the LEGACY agenda refers to Competence in the banking and Finance industry, which is a very crucial factor in the banking and finance sector. Competent individuals in this industry are equipped with the necessary knowledge and skills to effectively manage financial resources. Individuals with expertise in this field can contribute to the growth and stability of the economy.
Mrs. Uche Uzoebo, Managing Director/Chief Executive Officer, Shared Agency Network Expansion Facilities, SANEF, described the memorandum of Understanding, MoU, as a visionary partnership that seeks to expand Financial Inclusion through Agent banking training, Financial Literacy and knowledge impartation, an objective that forms a key pivot of what SANEF represents.
“Over the years, SANEF, in strong collaboration with our key stakeholders, Banks and Licenced Super-Agents/Mobile Money Operators and other Financial Service Providers, have continued to deepen the frontiers of Financial Inclusion and agent bank. Financial Literacy and training have remained a key part of this objective.
“This MOU ceremony is a fulfillment of a shared vision through the expansion of Agent Banking, Financial Literacy, capacity building, thought leadership, training and competency.
She further explained that the agreement provides a training structure with well-curated and knowledge filled training modules and materials that will deepen the knowledge and capacity in agent banking.
“It will go ahead to deepen and expand the knowledge and capacity of all participants that will take part in this training and we believe that with the quality and cooperation of all parties present, this very important objective of impartation of knowledge and thought leadership, grooming and training minds to be empowered and learned and contributing our quota to nation building and be a better place,” she added.
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