General News
Interswitch Partners Banks, Credit Providers to Render Low-level Nano loans
Interswitch foremost Africa-focused digital payments and Commerce Company that facilitates the electronic circulation of money as well as the exchange of value between individuals and organizations on a timely and consistent basis, have pioneered a multi-channel low-level lending without collateral as the next promising frontier in their financial inclusion drive.
The forward thinking company have now partnered with 6 leading banks and 3 innovative credit providers to address the challenges of unavailability of credit or loans to individuals and businesses within underserved demographics of the Nigerian population with the introduction of the Interswitch Lending Services Platform.
Speaking during the launch recently in Lagos, Akeem Lawal, the Divisional CEO for Switching and Processing at Interswitch Group, said “What we’ve basically done is to partner with key lending players in the industry to help accelerate the growth of retail lending to the underserved population in Nigeria through reliable credit models. We are starting with customers who do transactions on the Interswitch network. Our partners include banks with whom Interswitch has established long term relationships.”
Hitherto in Nigeria, there have been long-standing gaps in availability of credit or loan to individuals and businesses within underserved demographics of the Nigerian population. These people have experienced difficulties in accessing unsecured, short-term micro-loans from financial instructions for several reasons.
This service essentially resolves the ‘missing middle’ challenge by providing a holistic proprietary credit analysis, scoring & management technology which bank and non-bank credit providers can leverage to provide non-collaterized micro and nano-loans to individuals and SMEs across various channels.
It bridges the gaps currently existing in Nigeria as far as access to credit between deserving but underserved individuals and SMEs on one hand, and credit providers on the other, by means of reliable lending and de-risking engines based on customers’ transaction history and digital footprints.
Customers can now use any of the ATM, mobile banking apps or USSD channels to access loans, essentially achieving the goal of allowing different customer segments to meet personal and small business needs, thereby accelerating growth in business activities within Nigeria’s resurgent economy.
The solution focuses on enhancing financial inclusion by providing a tested and reliable end-to-end credit administration infrastructure, which is open and flexible enough to accommodate both bank and non-bank lenders.
The Platform is been integrated by Interswitch with perhaps the largest customer database, allowing almost 16million Nigerians (which includes active customers on Quickteller) to be assessed for possible qualification for a loan.
Interswitch had formed strategic partnerships with a number of credit providers to efficiently target customers who are available on those partner platforms, offering nano-loans at attractive interest rates and based on available credit history and predictive analytics through information technology to determine credit-worthiness.
Addressing the question around the reason why Interswitch is doing this, Akeem added: “We have done this to provide accessible credit for the financial needs of customers who are presently underserved by mainstream finance, or who are excluded in one way or another from being able to access credit through currently existing conventional channels.
“We are doing this by addressing the problem of access, reach and risk in a novel way that ensures that we can achieve nationwide scale.”
According to Interswitch, customers who access loans through this platform can conveniently make their loan repayments through a variety of channels such as – using their cards, at ATMs, online at quickteller.com or through Bank branches.
Another important consideration is that customers who typically use electronic channels or embrace cashless transactions are more likely to get better loan offers than others who have not embraced e-payments, simply because most of the historical data is generated on the basis of usage of e-payment channels, such as Quickteller.com.
The Current bank partners who are on board the Interswitch Lending Services platform are FirstBank, UBA Bank, Heritage Bank, Unity Bank, Fidelity Bank and Ecobank.
And the 3 Lending Partners on board this platform are Kwikcash, Paylater and Ferratum.
Nigeria Centre for Disease Control and Prevention (NCDC) has raised alarm over ravage of Lassa fever cases across 18 states and 67 Local Government Areas (LGAs) of the country.
Dr Jide Idris, director-general of NCDC, in statement yesterday, said that Bauchi, Ondo, Taraba, Edo and Benue accounted for more than 80 per cent of confirmed cases recorded during the 2026 peak transmission season.
Idris, described as particularly worrisome the growing infections among healthcare workers, with 28 confirmed cases and three deaths reported so far this season.
NCDC attributed the sustained transmission and rising fatalities to operational gaps at the state level, urging urgent action to strengthen outbreak response and control measures.
According to Idris, field investigations showed most transmissions were occurring in known endemic areas, but weak implementation of established response frameworks had contributed to the continued spread and higher case fatality rate.
He said that gaps identified include infections in general outpatient and maternity settings, poor adherence to Infection Prevention and Control (IPC) protocols, and inadequate pre-positioning of Personal Protective Equipment (PPE).
He added that delayed patient presentation due to financial barriers, inconsistent activation of State Incident Management Systems, weak contact tracing, persistent stigma and poor isolation centre standards were also driving transmission.
Idris emphasised that outbreak response implementation and health service delivery fell primarily under state governments within Nigeria’s federal structure, urging them to strengthen accountability and resource allocation.
He called on affected and high-risk states to urgently activate and closely monitor their Incident Management Systems, ensuring timely coordination and efficient outbreak response at all levels of healthcare delivery.
He also urged the immediate release of response funds, strict enforcement of Infection Prevention and Control (IPC) compliance in public and private health facilities, and continuous availability of PPE and other critical supplies.
The NCDC boss also advocated accelerated financial protection mechanisms to reduce late presentation and high fatality rates, alongside institutionalised rodent control and environmental sanitation measures under a One Health approach.
He advised healthcare workers to maintain a high index of suspicion and adhere strictly to IPC guidelines.
He also urged the public to keep environments clean, prevent rodent entry into homes, store food safely and seek early medical care when symptoms appeared.
Idris noted that Lassa fever was treatable, with improved outcomes when detected early, adding that Nigeria was also responding to other epidemic-prone diseases including Cerebrospinal Meningitis, Diphtheria, Mpox and Cholera.
He reiterated NCDC’s toll-free emergency line, 6232, for reporting suspected cases and obtaining further information
The Lagos State Traffic Management Authority (LASTMA) has deployed a number of real-time digital solutions, including surveillance drones, GPS-enabled patrol vehicles, and automatic incident detection software.
The agency has also established a central command and control centre to reduce emergency response times and improve traffic safety throughout Lagos.
According to the agency, the digital transition will replace manual reporting and fragmented coordination with an integrated, data-driven platform capable of instantaneously detecting, verifying, and dispatching responders to crashes and breakdowns.
According to general manager Olalekan Bakare-Oki, LASTMA, body cameras, mobile data terminals, and toll-free hotlines now feed into a unified operations hub that gives real-time visibility of traffic situations across the state.
Incidents detected by digital surveillance are validated in real time and dispatched to the nearest patrol team using GPS tracking, while officers are instructed via modern communication devices.
According to the agency, the system has eliminated delays caused by poor event reporting and logistical constraints, enabling faster diversions, quicker clearance of accident scenes, and better coordination with medical and security agencies.
Field commanders and rescue teams now operate on synchronised data networks, allowing immediate decisions that reduce secondary crashes and prolonged congestion.
According to LASTMA’s 2025 operational summary, the agency rescued 1,075 people from crash scenes, and impounded 17,169 vehicles for various traffic violations across Lagos through its toll-free hotline.
These figures reflect how timely reporting and coordinated response have already reduced secondary accidents and eased congestion, according to the agency.
It went on to it achieved this with the toll-free reporting system, body cameras, and field coordination networks but with the newly deployed suite of smart technologies, the agency’s impact is poised to multiply.
Bakare-Oki said the upgrade aligns with the state’s smart-city agenda, positioning LASTMA as a technology-enabled public safety agency and laying the groundwork for faster, more reliable mobility management on Lagos roads.
This International Women’s Day 2026, the world is saying “Give to Gain.” PalmPay is turning this message into action by empowering young women with the skills and resources to thrive in today’s fast evolving economy.
The PalmPay Purple Woman 3.0 is a 3-Day Digital Financial & Technology Masterclass created to bridge the gender gap in tech. The program is designed to equip women with practical, job ready skills while also providing job opportunities for career growth.
Launched in 2024, the Purple Woman initiative has impacted 150 women in specialized fields, including Data Analysis, Software Engineering, and Product Management, with learning resources and hands-on skills to launch them into the competitive job market.
From March 5–7, 2026, 100 women aged 18–30 will be selected through a competitive application process to participate in this year’s cohort. Over three immersive days, participants will receive hands-on training from industry experts in digital finance and technology.
And it doesn’t end there.
Ten outstanding participants will secure a 3-6month internship with PalmPay, gaining practical fintech experience that can shape their professional journey.
For participants of this initiative, the Purple Woman Program isn’t just about learning new skills, it’s about building networks, gaining confidence and unlocking bigger opportunities that will positively impact the trajectory of their careers.
For more information about the Purple Woman initiative, visit @PalmPayappng
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