E-Financial
Leatherback Moves to Make Global Transactions Fast, Secure

New “neo bank”, Leatherback, has announced that it is poised to disrupt the financial services sector with its one account, multiple currency solution that allows businesses and individuals to conduct global transactions easily, quickly and securely.
In a statement, the company’s Founder and CEO, Ibrahim Toyeeb, said the introduction of Leatherback to the global market is underpinned by a desire to democratise banking and provide opportunities for borderless global trade and commerce.
According to him, “It’s no secret that emerging markets are the principal drivers of global growth. Given this reality – and the fact that the COVID-19 pandemic has imposed numerous restrictions on travel and commerce – Leatherback was formed to simplify global trade for people and operations everywhere, allowing them to seamlessly move money from one continent to the next.
“In this respect, Leatherback provides a much-needed solution for exporters and importers, immigrant-owned businesses, international students, the migrant population in general, tourists and multi-nationals with foreign operations that require financial solutions, payments or foreign exchange.Leatherback is inspired by the leatherback sea turtle, a nomadic creature that roams the seas from the northern regions of the arctic, to as far south as the pacific, without self-imposed restrictions to hinder its movements.”
“Like its namesake, the fintech operation is built on the same principles. It offers multi-currency accounts with the option to exchange currency instantly across multiple countries, including the United Kingdom, Canada, India, Nigeria, Egypt, Uganda, Tanzania, Angola, South Africa, the UAE, Denmark, Ghana and Côte d’Ivoire. The organisation enables clients to create local and foreign accounts to give them the option to remit funds across 40 countries, while businesses can invoice and collect directly in over 13 currencies.
“Notably, Leatherback is fully regulated by the FCA in the UK, Fintrac in Canada, the Central Bank of Nigeria and other regulatory authorities in the 13 countries it is licenced in. “Ensuring our users operate in a secure space is non-negotiable. The multi-layered cybersecurity measures we have deployed are aimed at safeguarding their money and providing them with peace of mind, ”Toyeeb said.
He added, “At the core of Leatherback is the ability to break down payment barriers, promote business expansion, remove barriers to business growth, and build a global digital payments infrastructure that harnesses the rise of digitisation.While it may seem implausible that users can set up accounts, make currency conversions and global payments within minutes, Leatherback has done just that.
“A zero-balance start-up fee and highly competitive rates provide further compelling reasons to join the Leatherback fold.While Leatherback allows for ease of making and receiving payments around the world, it also integrates invoicing and payroll services, tax management services, and revenue management.”
Leatherback, he added, “is a game-changer in the industry. By using Leatherback’s networks, account holders can spend abroad in the local currencies from the comfort of their offices or homes, at competitive exchange rates.
“Through its collections application programming interface (API), clients can accept money globally – in-store or online – from more customers, in their preferred countries, and in small or large volumes. In addition, trade finance unlocks working capital for short- and long-term business goals, business continuity and disaster recovery.”
“With its deep understanding of local markets and global finance, Leatherback’s main objective is to remove borders from transacting, so that people and businesses are encouraged to be ambitious and provide their services freely, making and collecting payments with ease around the world. “We believe in side-stepping convention to continuously find better ways to make things happen,” concludes Toyeeb.
E-Financial
Nigerian Banks End Years of Embargo, Resume Intl Transactions on Naira Cards

Nigerian banks have resumed international transactions on naira-denominated debit cards, marking a significant shift in banking operations for customers who rely on foreign payments.
This is coming nearly three years of suspension.
United Bank for Africa (UBA) and Wema Bank, in separate communications to their customers, announced the restoration of international payment services on their naira cards.
In a notice to its customers, UBA said the reactivation of international transactions on its premium naira cards aligns with its commitment to delivering improved and seamless banking experiences.
“We are pleased to inform you that all UBA Premium Naira Cards, including Gold, Platinum, and World variants, are now enabled for international transactions,” the bank stated.
“This means you can now use your Premium Naira Card for global payments — including online shopping, POS, and ATM transactions — with ease and flexibility. If you haven’t used your card recently, now is a great time to rediscover the convenience and prestige that comes with being a UBA premium cardholder.”
Similarly, Wema Bank announced that its customers can now make dollar payments on international platforms using their naira Mastercards.
“Your Wema Naira Mastercard just went global!” the bank said. “Now you can pay in dollars on all your favourite international platforms — Amazon, eBay, AliExpress, Netflix, Spotify, YouTube.”
The development marks a major relief for Nigerian customers who have had to rely on dollar cards or alternative payment methods since most banks suspended international usage of naira cards in 2021 due to foreign exchange scarcity.
E-Financial
Flutterwave Secures 20 more US Money Transmitter Licences

Flutterwave, Africa’s leading payments technology company, today announced the relaunch of its flagship remittance solution, Send App, across U.S. states following its newly acquired Money Transmitter Licences (MTLs).
This comes after Flutterwave secured 20 additional MTLs in the U.S., adding to the 14 licenses the brand has held since 2023.
Altogether, this achievement raises Flutterwave’s total number of direct licenses to 34, allowing the company to operate across many U.S. states and territories without partners or intermediaries.
Users in the U.S. can now send money to Nigeria, Ghana and Egypt, unlocking new remittance corridors that were previously unavailable.
Alongside this expansion, the onboarding process has been streamlined with a quick ID check, making it faster and easier for new users to get started.
Additional improvements include optimised payment support for US-issued Visa and Discover cards, enhanced security measures to safeguard transactions and maintain compliance, and improved in-app flows for a simpler, more efficient sending experience.
This return also highlights Flutterwave’s commitment to delivering a seamless, secure, and regulatory-compliant user experience for all Send App customers in the U.S. Users can now send money from DC, Georgia, Maryland, North Carolina, Michigan, South Carolina, Tennessee.
Other U.S. states and territories where Send App by Flutterwave supports outward remittances include Alaska, Arizona, Arkansas, Delaware, Idaho, Illinois, Indiana, Iowa, Louisiana, Maine, Minnesota, Mississippi, and Missouri, Nebraska, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Puerto Rico, Rhode Island, South Dakota, Utah, Washington, West Virginia, Wisconsin, and Wyoming.
Commenting on the relaunch, Olugbenga “GB” Agboola, Flutterwave Founder and CEO, said, “By expanding our reach and enhancing our services, we are empowering millions of Africans in the U.S. to maintain strong financial ties with their home countries, support their families, and contribute to economic development across the continent. Additionally, we are staying true to our core mission of bridging Africa with the global economy and vice versa.”
Earlier this year, Flutterwave integrated Swap into Send App for seamless FX transactions and strengthened its services in Ghana by securing approval for inward remittance from the Bank of Ghana.
E-Financial
Court Affirms NIBSS Authority to Manage BVN

Federal High Court in Abuja on Friday affirmed the authority of the Nigeria Inter-Bank Settlement System (NIBSS), to manage the Bank Verification Number (BVN), database across the country, in line with the Central Bank of Nigeria (CBN), Act and other relevant banking laws.
This is according to a judgment delivered by Justice James Omotosho on Friday.
Wolemi Esan, senior advocate of Nigeria, NIBSS’s counsel, and Kofo Abdulsalam-Alada, lead counsel for the CBN, among others, had sought a restraining order to prevent any institution in Nigeria from challenging the agency’s statutory authority to maintain and manage the BVN database.
This comes as NIBSS had alleged that Digital Rights Lawyers Initiative filed multiple suits, either directly or through proxies, challenging its authority to manage the BVN database and claiming that such management violates constitutional privacy rights.
However, Justice Omotosho, delivering his judgment, said the BVN does not infringe on the constitutional right to privacy.
“The initiative does not infringe on the constitutional right to privacy but rather serves as a necessary tool for safeguarding public interest and enhancing financial security.
“NIBSS has the power to manage the BVN,” the judge said, citing relevant CBN laws.
“The court grants the reliefs of NIBSS as prayed,” he stated.
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