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IFIS Obtains CBN Final Approval, Crosses the 10,000 Agents’ Mark

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Mike Ogbalu,CEO,Interswitch Financial Inclusion Services
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Interswitch Group has recorded another first with the granting of Interswitch Financial Inclusion Services (IFIS), Commercial Super-Agent license by Central Bank of Nigeria (CBN).

 

IFIS has fulfilled all Approval-in-Principle requirements and has a business mandate to grow an active Agent Network of 150,000 by 2020.

 

Trading as Quickteller Paypoint, IFIS aims to increase the availability of digital financial services in financially-excluded locations in Nigeria from 44% to over 70% in five years.

 

Quickteller Paypoint has now crossed a symbolic milestone by breaking the 10,000 activated agent mark.

 

With this feat, Quickteller Paypoint now has the second largest agent network in Nigeria.

 

Confirming the license update, Mike Ogbalu, Divisional CEO, IFIS, said that,”With excitement, we are proud to announce this feat.

“We are conscious of the fact that work is only just starting.

 

“We would not be resting on our oars and remain fully dedicated to our cause and business mandate.

 

“By way of investment in people and technology, we continue to reaffirm our commitment to this ambitious project.

 

“We understand the essence of financial inclusion and the impact on national development.

 

“With our 10,000 strong agent network, we are well-positioned to serve the nooks and crannies.

 

Working closely with governments at various levels and international agencies, IFIS is set to take its services deeper into the rural communities while creating new entrepreneurs and enhancing existing SMEs.

 

“We express genuine appreciation to all of our esteemed agents (10,000 and counting), our valuable partners, stakeholders and the CBN for believing in our vision.

 

“We will continue to upgrade our systems and security measures in line with developments in the payments industry.

 

“As a licensed super-agent with a high sense of responsibility and professionalism, we will continue to abide by the regulatory framework.

 

Quickteller Paypoint was fully plugged into the Financial Inclusion Week (October 30 – November 3, 2017) geared towards building a more inclusive financial ecosystem. With new products and partnerships, we will continue to empower our agents and customers alike.

 

He stated that Quickteller Paypoint understands the pain points of the underserved and unbanked Nigerians and is designed to digitize cash and commoditize access to financial services.

 

Quickteller Paypoint value proposition cuts across entrepreneurs, artisans, small shop owners, traders, supermarkets, trade associations, retail chains, government agencies and service providers.

 

Mr.Ogbalu noted that, Quickteller Paypoint is premised on shared prosperity which is an interesting platform for economic growth, that can be translated to mean “mutual growth” In the simplest terms.

 

Shop owners or existing businesses can earn additional income by adding an array of payment services to their existing bouquet.

 

Commercial and microfinance banks, Telcos, Cable TV providers, Betting companies, Discos, Insurers, Government Agencies etc can deepen penetration for their business by expanding into communities that hitherto, were relatively unreachable.

 

Quickteller Paypoint also offers bill payments, airtime recharge, money transfers, deposits, withdrawals, government payments, lottery winnings and more.

 

It will be noted that,Interswitch has been known since its launch in 2002 to be one of the strongest proponents of the attainment of a truly cashless society and has been known to push the boundaries of technology in achieving this.

 

The company in 2014 was listed by Deloitte as the fastest growing tech company in Africa with a year-on-year growth rate of over 1500%.

 

Interswitch has also made considerable inroads into the East African market with the acquisition of Paynet Kenya alongside a strategic partnership with KCB Bank across several East African countries.


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E-Business

Study Reveals 83% of Employees Stay Connected to Work During Time Off, Fuelling Digital Anxiety

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A new Kaspersky survey undertaken in the Middle East, Turkiye and Africa (META) region reveals that digital anxiety is becoming a defining feature of modern work culture, as employees don’t disconnect even during their free time and vacations.

According to the findings, 83% of respondents keep an eye on work tasks outside working hours. An overwhelming 85% reply to all work-related messages in instant messaging apps, while the same share (85%) check work emails during their time off – and 81% admit they are responding to work emails while on vacation or in their personal time.

The pressure to remain constantly available is contributing to heightened stress levels in the workplace. Other sources of stress include work issues, for example, 43% experience anxiety after accidentally sending a random message to a work chat.

Interestingly, not all digital mishaps are perceived equally: 40% report that they take it calmly when they send an unfinished email, proving that some mistakes are considered less damaging than others.

Blurred boundaries between professional and personal life, combined with instant communication tools, are intensifying feelings of constant monitoring and fear of making digital errors.

More than a third (36%) of respondents say they feel extremely uncomfortable or even scared if their boss notices them scrolling through social media at work instead of working. The “always-on” culture may undermine employee well-being, increase burnout risks, and reduce overall productivity in the long term.

“Digital anxiety doesn’t just affect employee well-being – it can also increase cybersecurity risks for organisations. When people feel constant pressure to respond immediately to messages and emails, they are more likely to act impulsively, without carefully verifying links, attachments, or sender identities.

This urgency can make employees more vulnerable to phishing, and other scams using social engineering techniques,” comments Brandon Muller, Technical Expert at Kaspersky.

Kaspersky recommends employees to follow the below tips to avoid digital anxiety and associated cyber risks:

  • Slow down before clicking or replying. Digital anxiety can trigger automatic reactions. A short pause to check sender details, URLs, or attachments can prevent security breaches.
  • Treat urgency as a red flag. Cybercriminals often exploit pressure and fear. Always verify unexpected or urgent requests before responding.
  • Avoid handling sensitive information on unsecured networks. Public Wi-Fi, often used when working outside regular hours, increases exposure to cyber threats. Mobile network and VPN should be applied in such cases.
  • Use technologies that will help reduce risks. For example, Kaspersky Premium offers AI-powered anti-phishing features designed to help warn of potential threats.

Businesses can reduce cybersecurity risks related to employees’ digital anxiety by providing regular cybersecurity training that helps staff recognise threats and respond correctly even under stress.

At the same time, organisations should use robust cybersecurity solutions to minimise the impact of human error. Kaspersky Next’s adaptable and robust cloud-native protection, underpinned by an unequalled cybersecurity track record, is one of such products.

Protection solutions for mail servers, such as Kaspersky Security for Mail Server, with anti-phishing capabilities, help to additionally decrease the chance of infection through a phishing email.


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FG Approves Electric Buses for Civil Servants, Pushes Local Auto Growth

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Federal Government of Nigeria has approved the acquisition of electric buses for civil servants as part of efforts to promote cleaner transportation and boost local vehicle manufacturing.

FG Approves Electric Buses for Civil Servants, Pushes Local Auto Growth

The development was disclosed in Abuja by Joseph Osanipin, Director-General of the National Automotive Design and Development Council (NADDC). Osanipin said the buses would be sourced from local assemblers to strengthen domestic production and stimulate growth in Nigeria’s automotive sector.

He stated: “The initiative is aimed at encouraging the transition to cleaner mobility while creating opportunities for local manufacturers.” According to him, the government has also procured charging infrastructure that will be deployed across parts of the country to support the adoption of electric vehicles.

As part of broader efforts to develop the sector, the council is establishing the Nnewi Automotive Development Park in Anambra State. Osanipin explained: “We are developing the Nnewi Automotive Development Park where we will provide the necessary infrastructure so that users of the park can share facilities.”

He added that the shared infrastructure model would enable investors and manufacturers to operate without bearing the full cost of setting up independent facilities. The council is also seeking additional investment to accelerate the development of the park and attract more industry participants.

Osanipin urged Nigerians to support locally assembled vehicles, noting that increased patronage would help create jobs and drive economic growth. He said the council is providing training to manufacturers and stakeholders to enhance local production of vehicle components such as batteries and tyres.

“The move will reduce import dependence, create employment opportunities, and contribute to the country’s Gross Domestic Product,” he said. The NADDC is also working with the Bank of Industry Nigeria to facilitate the disbursement of the National Automotive Development Fund to qualified stakeholders.


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Jumia Reaffirms Commitment to Consumer Trust on World Consumer Rights Day

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As the global community commemorates World Consumer Rights Day, Jumia Nigeria joined industry leaders, regulators, and consumer advocates at the Lagos Marriott Hotel, Ikeja, for a high-level panel session hosted by the Lagos State Consumer Protection Agency (LASCOPA) on Tuesday, March 17, 2026.

Speaking during the session, Peters Afebuame, Group Head of Content and Production at Jumia, highlighted Jumia’s comprehensive approach to protecting consumers from counterfeit or adulterated products on its marketplace, noting that the company has implemented structured checks and technology-driven systems across the entire product lifecycle, from seller onboarding to post-listing monitoring, to safeguard product authenticity.

“Ensuring product authenticity on our platform requires a combination of technology, policy enforcement, and continuous seller engagement,” he stated.

“At Jumia Nigeria, we have implemented a multi-layered process that begins with rigorous seller onboarding and policy agreements, followed by catalogue configuration controls, AI-driven product attribute verification, and the use of global product identification standards. These systems are reinforced by ongoing quality moderation, brand protection mechanisms, and strict enforcement actions, including product and seller delisting, ensuring that customers can shop on our platform with confidence.”

Central to Jumia’s consumer protection framework is a rigorous seller verification process designed to ensure marketplace integrity. Vendors are required to provide proof of legal and regulatory compliance before gaining access to the platform. This vetting process is reinforced by a strict quality control system that monitors products listed on the platform, backed by a zero-tolerance policy toward counterfeit or substandard goods. Non-compliant sellers face penalties and permanent delisting from the marketplace.

Transparency also remains a core priority in helping customers make informed purchasing decisions. Product listings across the platform feature clear specifications, verified descriptions, and detailed images, enabling shoppers to understand exactly what they are purchasing before completing a transaction.

Recognising that digital literacy plays a critical role in online safety, Jumia continues to invest in consumer education initiatives through instructional “how-to” videos, platform guides, and social media campaigns that equip Nigerian shoppers with practical knowledge to navigate online shopping securely and confidently.

To further strengthen transaction security, Jumia leverages its proprietary payment solution, JumiaPay, which provides a secure and encrypted payment infrastructure designed to protect customer financial data. The company also adheres to internationally recognised data protection standards such as the General Data Protection Regulation (GDPR) and local regulatory frameworks established by the Nigeria Data Protection Commission (NDPC), ensuring responsible handling and protection of user information.

Beyond the point of purchase, Jumia reinforces consumer protection through a customer-centric return and refund policy designed to ensure seamless resolution when issues arise. A dedicated customer service team also provides support through multiple channels, including phone and social media, enabling swift response to consumer inquiries and complaints.

As e-commerce continues to expand across Nigeria, Jumia reaffirmed its commitment to building a marketplace that prioritises fairness, transparency, and consumer safety. Through continuous investment in technology, strong policy enforcement, and ongoing consumer engagement, the company aims to strengthen trust and confidence in Nigeria’s growing digital commerce ecosystem.


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