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Interswitch Group Unveils Coordinated Interventions Against COVID-19

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Interswitch Group, one of Africa’s leading integrated payment & digital commerce players has announced a series of intervention measures as part of a coordinated effort to complement ongoing efforts from public and private sector perspectives to address the spread and mitigate the negative impact of the novel coronavirus pandemic in Nigeria.

Inspired to make a difference as far as playing their part in fighting the scourge, employees of the company have rallied together to voluntarily contribute various amounts from their compensation, raising a total of 75 million Naira in an employee-led effort, which the company has supplemented with the sum of N230 million, thereby bringing the funds raised towards the organization’s COVID-19 response effort to a grand total of N305 million Naira.

This is coming on the heels of concerted efforts by good-spirited individuals and corporate organisations to support the Federal and State governments in combating the COVID-19 pandemic.

This intervention fund from the Interswitch Group and its employees is being deployed to provide support to Federal & State Governments, as well as some selected private sector-led initiatives.

The primary focus of the fund is supporting the creation and equipment of isolation centres, purchasing COVID-19 Test kits, providing personal protective gear and related support to frontline heath workers and to setting up foodbanks to cater to under-privileged communities in Lagos.

Execution has commenced with Interswitch’s Verve Brand, which has sealed a partnership with the Lagos State Feeding Program to provide raw material food items for poor & vulnerable communities in Lagos.  Interswitch also supported The Young President’s Association (YPO) and the Lagos State government in setting up the already functional Eti-Osa isolation centre in Lagos.

The fund has also supported the Delta State Government by providing tropicalized ultra-low temperature (ULT) laboratory refrigerators that will be used for the storage of reagents and other laboratory consumables and COVID-19 test samples pending when they will be transported to the designated COVID-19 Testing Laboratory in Irrua, Edo State.

The company is finalizing discussions with states including Edo, Enugu, Kaduna, Ogun and Oyo with a view to providing test kits and personal protective equipment (PPE) for frontline health workers in these states.

Furthermore, by way of providing free technology for the use of governments and healthcare authorities, Interswitch has leveraged its core capabilities as a technology company and systems integrator, manifested through the initiative of eClat Healthcare, Interswitch’s health-tech subsidiary company, in building out a user-friendly, locally-nuanced software application which is useful for members of the public as a first-line intervention for the assessment of risk and pre-disposition to the novel Coronavirus infection.

The software platform analyses users’ information provided from answers to a series of questions around risk factors, recent exposure, observed symptoms, health and travel history.

From an epidemiological mapping perspective, the application also offers insight-based analytics, based on its capabilities to track and aggregate insights into geographical heat-maps which highlight areas in which pre-disposition is deemed to be higher, to optimize decisioning and ultimately enable prioritization of interventions, a key value proposition to public healthcare authorities.

This initiative essentially serves to provide guided and up-to-date information on COVID-19, reduce panic, lower gross footfall to medical facilities, being a first-line checkpoint and ultimately reduce risk of exposure to health workers on the frontlines of fighting the pandemic.

Designed with an interactive interface, the solution facilitates further virtual consultation for infected persons, meaning infected persons can stay in their homes and access consultation as to whether their symptoms give cause for alarm or not.

The eClat Health-tech solution supporting State Governments’ response to COVID-19 has been implemented in 20 states across the country.

It is currently in use in Lagos State’s Eti-Osa isolation centre, and in Edo, Ogun and Oyo States, while it has been implemented and is set to go live in Delta, Kaduna, Bayelsa, Yobe and Jigawa States, where healthcare personnel have also been trained in readiness to go-live.  The system has been primed for the other states which are at various stages of implementation, training and approval to go live.  These are Kano, Katsina, Rivers, Abia, Enugu, Anambra, Ebonyi, Akwa Ibom and Imo States.

Also by way of exploring collaborative private-sector led initiatives to complement the drive of Federal & State Governments as well as public health authorities to mitigate the spread of the pandemic, Interswitch will leverage its existing partnership with players such as PAX Technology  (a leading international provider of Point-of-Sale payment terminals) to provide essential medical consumables and supplies such as N95 facial masks and thermometers as part of the quest to contain the COVID-19 pandemic in Nigeria.

Interswitch has also expressed a commitment to leveraging its creative capabilities, social and digital media assets to roll out awareness and sensitization campaigns to propagate WHO-approved messaging & information on COVID-19, under the umbrella platform of #FlattenTheCov.

Commenting on the essence of these interventions, Mitchell Elegbe, Founder and Group Chief Executive Officer at Interswitch opined that;

“These interventions sit well within the context of our corporate mission; to create transaction solutions that enable individuals and communities prosper across Africa.

“Our efforts are underpinned by the realization that this pandemic, if left unchecked is a potent threat to interactions which facilitate entrepreneurship and commerce, without which inclusive prosperity will remain a pipe dream.

It is our desire and earnest hope that these initiatives, aggregated with the goodwill and committed efforts of many other like-minded corporate entities and well-meaning individuals who have rallied to this noble cause would significantly contribute to the flattening of the COVID-19 infection curve in Nigeria, which remains one of Africa’s most important economic hubs”.

By virtue of the alliance with technology providers such as PAX, Interswitch has also underscored commitment by the partners to promote the adoption of contactless point-of-sale payment solutions across the West Africa market.

Contactless payment solutions include payments with contactless-enabled credit and debit cards, as well as QR codes, underscored by the realization that the widespread adoption of contactless payment solutions have greater propensity to better mitigate the spread of COVID-19.


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E-Financial

Bank Customers to Pay N1,500 for ATM Card Issuance, Replacement – CBN

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Central Bank of Nigeria (CBN) has said that the cost of issuing or replacing a standard debit or credit card will rise by 50 percent to about N1,500, up from about N1,000.

Bank Customers to Pay N1,500 for ATM Card Issuance, Replacement - CBN

The new charge is contained in the Exposure Draft of the Guide to Charges by Banks and Other Financial Institutions in Nigeria, 2026, released by the Central Bank of Nigeria.

The draft followed a circular issued to banks, other financial institutions and the public, dated April 21, 2026, and signed by Rita I. Sike, director, Financial Policy and Regulation Department.

Under the revised guide, issuance and replacement of regular or basic debit and credit cards will attract a N1,500 fee, while charges for premium debit, credit or hybrid cards will be negotiable.

In the 2020 guide, debit card charges were fixed at N1,000 as a one-off fee for issuance, replacement of lost or damaged cards, and renewal upon expiry, applicable across all card types.

The CBN said the review is part of its mandate to promote a safe and sound financial system, accelerate the adoption of innovative financial services, and enhance financial inclusion, particularly in micropayments and transactions.

According to the regulator, the revised guide expands the range of financial services, encourages innovation, strengthens oversight and accountability, and promotes financial inclusion through lower tariffs for micropayments. It also updates certain banking charges to support increased use of electronic channels and accommodate new industry participants since the 2020 version.

The apex bank said the draft has been exposed to the public for comments and input on the proposed fees, with submissions expected via [email protected] on or before May 08, 2026.

The guide provides a framework for the application of charges, including fees and rates, on products and services offered by financial institutions in Nigeria. It applies to all institutions licensed or regulated by the Central Bank of Nigeria.

The charges, according to the regulator, were developed following extensive consultations with stakeholders and are aimed at enhancing flexibility, standardisation, transparency and competition in the financial system.

It added that where charges are designated as negotiable, financial institutions must inform customers of their right to negotiate at the start of transactions and reach mutual agreement on applicable fees through verifiable means.

Where limits are specified, charges must not exceed the prescribed maximum or fall below the minimum.

The apex bank noted that the guide is not exhaustive and that financial institutions must seek prior approval before introducing new products, services or charges not covered.

The framework applies to a wide range of institutions, including commercial banks, merchant banks, payment service banks, non-interest banks, microfinance banks, finance companies, primary mortgage banks, development finance institutions, credit guarantee companies, mobile money operators, and other institutions designated by the regulator.

In line with existing consumer protection regulations, the apex bank said non-credit charges can only be applied to the extent of the available account balance, with any outstanding fees deferred until the account is funded. Such deferred charges will not attract interest.

The guide is to be read alongside the relevant guidance notes and glossary provisions and will supersede the 2020 version when it takes effect on May 1, 2026.


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ProvidusBank Launches Ado-Ekiti Branch, Eyes Nationwide Rollout

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ProvidusBank Plc has commissioned a new branch in Ado-Ekiti, advancing its expansion strategy across Nigeria’s high-growth markets while leveraging its compliance with the Central Bank of Nigeria’s (CBN) recapitalisation directive since January 2025.

ProvidusBank Launches Ado-Ekiti Branch, Eyes Nationwide Rollout

ProvidusBank

The move aims to enhance financial inclusion, support local enterprises, and deliver banking services closer to communities and businesses.

At the event, Executive Director/Chief Financial Officer, Deoye Ojuroye, described the rollout as part of a 12-month plan to bolster the bank’s nationwide presence.

“Our approach is deliberate—we are growing in the right places, supporting real economic activity, and building a bank that is both resilient and responsive to customer needs,” Ojuroye said.

He emphasised the bank’s robust capital and risk management, stating: “We are well capitalised within our regulatory category, giving us confidence to expand responsibly while aiding businesses and communities.”

ProvidusBank plans further branches in strategic locations over the next year, underscoring its focus on scalability, accessibility, and sustainable growth as a trusted partner for individuals and enterprises.


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Fidelity Bank Bolsters SME Growth with April Masterclass Series on Pricing, Digital Tools, Global Trade

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Fidelity Bank Plc has launched a series of high-impact masterclasses in April 2026 to empower Nigerian Small and Medium Enterprises (SMEs) with practical skills for pricing, digital expansion, and international growth.

Fidelity Bank Bolsters SME Growth with April Masterclass Series on Pricing, Digital Tools, Global Trade

Fidelity Bank

The initiative aligns with the bank’s drive to boost SME operational efficiency and market access amid Nigeria’s economic challenges.

The flagship session, “Pricing That Works: How to Charge Right and Earn More,” took place on April 10 at the Fidelity SME Hub in Gbagada, Lagos. It drew about 100 entrepreneurs from diverse sectors, offering insights into costing, value-based pricing, pricing psychology, and customer perception to ensure profitable, customer-friendly strategies.

Buoyed by positive feedback, the bank rolled out three more sessions. The second, “Baking Masterclass: From Kitchen to Cashflow,” ran on April 14 and 15, providing hands-on training for bakers and food businesses to enhance product quality and profitability.

Divisional Head, SME Banking, Ugochi Osinigwe, stated: “At Fidelity Bank, we believe that when SMEs succeed, the economy grows. That is why we have curated masterclasses on pricing, product improvement, online sales, and global expansion to equip entrepreneurs with immediate, actionable tools.”

She highlighted the series as part of broader SME support via the Fidelity SME Hub, including advisory services, funding, and nationwide programmes. The bank recently earned the Best Retail and SME Bank Award from Independent Newspapers.

Upcoming events include “Grow Online Sales on a Budget” today, April 24, focusing on low-cost digital strategies for visibility and sales; and “Take Your Business Global: One-on-One Trade Advisory” on April 29, covering export readiness, payments, markets, and compliance.

Fidelity Bank, ranked among Nigeria’s top lenders, serves over 10 million customers via 255 branches, digital platforms, and its UK subsidiary, FidBank UK Limited. It has clinched awards like the 2024 Excellence in Digital Transformation & MSME Banking from BusinessDay BAFI Awards, Most Innovative Mobile Banking App from Global Business Outlook, Best Bank for SMEs from Euromoney, and Export Financing Bank of the Year from BusinessDay BAFI.


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