E-Business
Interstellar, Interswitch Group Partner on Blockchain-powered Infrastructure Services & Solutions
Interstellar Inc.(“Interstellar”), an Enterprise Blockchain Infrastructure Services Company and Interswitch Group (“Interswitch”), Africa’s leading Integrated Payments and Digital Commerce Solutions company, have announced a long-term strategic partnership agreement to jointly develop blockchain-powered infrastructure services and solutions.
Interswitch and Interstellar have been working together over the last two years, carrying out blockchain technology research. As part of the partnership Interstellar’s Blockchain technology stack (STARGATE) will be integrated with Interswitch’s industry-leading payments and digital commerce technology. This will further enhance the shared vision of the businesses to drive greater financial inclusion and prosperity across the continent.
Both companies have been preparing for the blockchain revolution in the African market with several ongoing initiatives including a Pan-African Payment Ecosystem (PAPE) powered by a private permissioned blockchain network which includes a consortium of Banks and Fintech players.
Ernest Mbenkum, Founder and CEO at Interstellar, commented, “We are delighted to have established this strategic partnership with Interswitch, one of Africa’s most valuable fintech businesses. This marks the genesis of an innovative and collaborative partnership aimed at delivering impact-focused and enterprise grade blockchain-powered services across the African continent.”
Interswitch has been at the forefront of major innovation milestones in payments in Nigeria for the last 20 years, garnering recognition along the line as one of the fastest-growing technology companies in Africa (Deloitte Fast-Growth 50) and gaining acclaim as the first homegrown African Fintech Unicorn following a minority investment by Visa in late 2019. Today, Interswitch’s current business footprint covers more than 26 countries in Africa.
Akeem Lawal, Divisional Chief Executive Officer for Transaction Switching and Payment Processing at Interswitch commented, “We are excited to partner with Interstellar on this journey and we look forward to the amazing things we will achieve together in the African market.
“This new alliance underscores the directional evolution of our blockchain innovation strategy which is premised on our strategic intent of developing a native, proprietary enterprise-grade distributed ledger technology stack that is practically tailored to the African context.
“This enables us to progressively digitize multiple industry value-chains across African markets whilst also supporting the actualization of the Pan African Payment Ecosystem, riding the wave of opportunities created by such initiatives as the AfCFTA.”
The adoption of distributed ledger technology applications in Africa offers significant potential for advancing socio-economic growth, empowerment of communities, digitization of industries, lowering the costs of local and cross border payments, localization of emerging technology and the development of African tech talent.
Looking at recent trends, the African continent has been seen to be progressively embracing contemporary innovation in digital currency, with Central Banks and other payment service providers actively championing some of these interventions.
These present multiple advantages and opportunities for deepening payment systems across the continent, and this timely partnership between Interswitch and Interstellar represents another significant milestone in the journey.
National Identity Management Commission (NIMC) of Nigeria has launched a new digital identity verification tool called the NIN Authentication (NINAuth) application.
The initiative, which forms part of President Bola Tinubu’s Renewed Hope Agenda, aims to strengthen the country’s national digital identity management framework.
The launch builds upon Nigeria’s comprehensive unified digital identity system that has been transforming access to financial services and government programs.
The NINAuth application introduces several key features focused on data security and privacy.
The platform requires explicit user consent before sharing identity information for Know Your Customer (KYC) processes, giving individuals greater control over their personal data.
The system provides seamless access to various government services, including SIM card registration, immigration applications, passport processing, tax filings, and financial transactions.
The development follows significant investment in Nigeria’s digital identity infrastructure, including a $45.5 million support from the World Bank as part of the Digital Identification for Development (ID4D) project.
As the official service for integration with NIMC’s backend infrastructure, NINAuth enables secure verification processes across ministries, departments, and agencies (MDAs).
The application is available for download on both the Google Play Store and Apple iOS App Store for users of the National Identification Number (NIN).
The rollout represents a significant milestone in Nigeria’s ongoing efforts to digitize government services and strengthen identity verification processes.
“NINAuth is a cutting-edge suite of services including web, API, and mobile verification designed to enhance data security, protect privacy, and simplify access to government services,” said Dr. Kayode Adegoke, Head of Corporate Communications at NIMC.
“The platform introduces a robust layer of protection, empowering individuals with greater control over their personal information.”
The implementation supports the objectives of the recently established Nigeria Digital Identification for Development Project Ecosystem Steering Committee, which oversees the country’s digital identity initiatives.
President Bola Ahmed Tinubu has approved the launch of the NINAuth app and directed its use for verification and authentication across all MDAs.
The application provides a secure single sign-on solution for accessing government services and social protection programs while maintaining strict data privacy controls.
The centralized approach to digital identity management represents a significant step forward in Nigeria’s digital transformation journey and its commitment to modernizing government services.
Nigerian Copyright Commission (NCC) has set in motion a machinery to checkmate the booming copyright piracy market in the country.
Copyright piracy is said to cost Nigeria an annual loss estimated at billions of naira.
Despite the absence of a coordinated or official statistics to gauge the quantum of loss, John Asein, director general, NCC, said as far back as 2019, Nigeria lost N918 trillion ($3 billion) annually to digital piracy.
The financial damages severely impact local businesses and innovation efforts.
The commission, in collaboration with the World Intellectual Property Organisation (WIPO), has started a project to develop strategies and tools to address the menace.
Speaking at a stakeholders’ meeting on the WIPO project to address online copyright piracy in Nigeria, Asein said digital technologies have unlocked tremendous opportunities for the creative and innovation sectors.
The NCC boss said technology also poses serious challenges, including online piracy, which he said is growing rapidly.
He said: “Pirate sites continue to emerge rapidly, with statistics indicating a 6.7 per cent increase in user visits. A significant percentage of these users are students aged between 18 and 24, with social media and messaging platforms becoming major gateways for accessing pirated content.”
He added: “No industry is immune. The most affected sectors include television (43.6 per cent), publishing (27.5 per cent), film (12.9 per cent), music (7.0 per cent), and software (6.2 per cent).
“Far beyond mere statistics, the victims are no longer only foreign right owners. Many Nigerians in these sectors have also been bruised and their creative enterprises ruined.”
Nigerian Postal Service (NIPOST) has signed an international mail partnership with KLM Royal Dutch Airlines for improved delivery access to over 200 countries without middlemen.
Tolani Odeyemi, postmaster-general and chief executive officer of NIPOST, described the deal as a “major milestone” for the country’s logistics and postal sector.
In a statement on X on Monday, Odeyemi explained that the new agreement marks NIPOST’s first direct international airline partnership for several years.
“For a long time, NIPOST operated without any direct partnerships with international airlines, relying heavily on multiple third-party handlers,” the Postmaster-General stated. This often resulted in delays, higher costs, and uncertainty around the delivery of packages.”
She explained that under the new arrangement, KLM will directly handle all outbound international mail from Nigeria, eliminating the need for intermediaries.
“This translates to faster and more reliable delivery, reduced risk of loss or damage, lower handling charges, and access to over 200 countries through KLM’s global network,” the Postmaster-General stressed.
According to Odeyemi, NIPOST’s breakthrough came after it began settling long-standing debts owed to international carriers, a step she said was key to “rebuilding global trust” in Nigeria’s postal system.
She revealed that talks were also ongoing with Ethiopian Airlines to bolster regional and continental logistics, particularly on African and Eastern routes.
“Our goal is clear and unwavering: to connect Nigeria regionally and globally, efficiently, securely, and affordably,” Odeyemi asserted.
The NIPOST CEO described the development as a significant win for Nigerian businesses and small and medium-scale enterprises that rely on international shipping, stating, “You now benefit from quicker, more affordable international shipping, greater peace of mind with improved reliability, and new potential to reach and grow in global markets.”
Odeyemi commended the teams behind the scenes and pledged continued improvements in service delivery, adding that the deal signals a turning point for the agency.
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