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Revving Up Service Delivery with NQR Feature on ALAT

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The onboarding of the New Quick Response (NQR) feature unto ALAT, Wema Bank’s digital banking platform, underscores how technology innovations continue to impact service delivery and contributions of banks in Nigeria to the National Financial Inclusion Strategy.

The Central Bank of Nigeria (CBN), in continuation of implementation of National Financial Inclusion Strategy (NFIS), and other macroeconomic initiatives of the Federal Government geared towards accelerating national economic growth, approved the Framework for Quick Response (QR) Code payments in Nigeria, in January 2021.

Principal objective of the framework was to promote the use and adoption of electronic payments, foster innovation in payments system, and strengthen institutional framework for economic and financial industry stability in the country.

In addition to detailing the regulatory guidance, the aims of the framework include ensuring the adoption of appropriate QR Code standards for safe and efficient payments services in Nigeria. Participants approved for the implementation of QR Code payments include merchants, customers, issuers including banks, money market operators and other financial institutions, as well as payment service providers.

For banks, the guidelines also permit them the use of any other QR Code Standard provided, it meets the prescribed security requirements, demonstrate interoperability with other existing implementation in the industry and/or offer cost benefits to end users (merchants and customers).

By increasing their investment in Information and Communication Technology (ICT) infrastructure and capacity building for digital teams, banks in Nigeria are among the leading positive change agents that are widening access to financial services for the unbanked and underserved to be onboarded unto the financial inclusion bucket.

In Nigeria, QR payments system in particular is increasingly becoming more popular, because they offer wide range applicability. QR codes help businesses create customer engagements and sustain relationships. They are simple and easy to set up at no cost. QR codes enable users to receive payments from more than one customer at once.

Transactions can be initiated from start to finish without you having to be there so, users can free up their time to do other things. QR codes help bridge the gap between face-to-face and digital by allowing customers to pay with their preferred digital wallets.

Also, QR payments help merchants or businesses to work with brands to streamline their payments offerings across all channels – online, in-app and in-store and to scale their operations domestically and cross-border. They also drive smartphone penetration, financial inclusion and cashless economy.

In further demonstration of its commitment to consistently stay at the forefront of deploying digital technology to make service delivery more convenient, faster and better for the customers, ALAT, Nigeria’s leading digital banking platform, recently increased its offerings with the inclusion of the new quick response (NQR) code-based payments and collections solution to boost convenient and safe financial transactions.

With the NQR feature on ALAT, existing customers and non-customers can now enjoy code-based payment and collections solution that provides fast, easy, secure, reliable, contactless and account-based options to receive and pay for goods and services.

Merchants, business owners and individuals by displaying the QR Codes generated on ALAT, can henceforth receive payments at their locations for goods and services.

All that a customer needs to do is to select the NQR option on their bank’s mobile application and scan the displayed NQR Codes to make payment to the merchant. The merchants/business owners and payers get instant notification of payment made.

The benefits of the NQR on ALAT include simplicity of use, easy setup, zero cost of acquisition, and a seamless merchant onboarding process. Other benefits are super-fast deployment, instant payment and settlement, and fast and secured payment.

On the level of transaction that can be done using the new feature, transaction limits are determined by the payer’s bank. However, transactions below N250 would attract 50 kobo, while those between N25 and N999.99 would be charged N1.

NQR on ALAT also offers the lowest service fees unavailable anywhere in the industry today. Transactions ranging between N1000 and N4,999.99 will attract N5, just as those between N5000 and above would pay the applicable fee of N25.

Another uniqueness of the NQR on ALAT is that it is a safe platform, as the exchange of information via the QR code ensures that any transmitted data on the technology is encrypted, thus making the payment secure.

“Also, NQR is built around the universal EMVCO Security Standards. In addition, customers are protected by a secret 4-digit PIN used to consummate transactions and known to only the payer,” Wema Bank stated.

To enjoy the new service, customers will need to set up NQR on ALAT by first updating the ALAT app to the latest version before login into the ALAT app as a payer. Then select payment, QR payment to scan a code directly or from their galleries.

Merchants and receivers are also to log in to the ALAT app and select payments, QR payment and then create merchant and sub-merchant display the QR code to receive payment.

QR code payment methods have become one of the fastest-growing payment methods in the world. They are also one of the most efficient and simple ways to share information and complete online payments.

According to Juniper Research, 1.5bn people worldwide used QR codes to make payments in 2020 as usage soared during the Covid-19 pandemic, while forecasting that by 2025, as many as 30% of all mobile users will pay with QR codes.

Juniper Research further said that QR usage is bigger in China where it had become popular as far back as 2010 and account for one-third of all payments today, amounting to $1.65trillion in QR code sales.

QR Code is a machine-scannable image that can instantly be read using a smartphone camera. Every QR consists of black squares and dots which represent certain pieces of information. When your smartphone scans this code, it translates such information into something that can be easily understood by humans.

 


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FG to Use Digital Economy Initiatives to Curb Corruption Among Youth

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Lateef Fagbemi (SAN), the Attorney-General of the Federation and Minister of Justice, has said that Federal Government is intensifying its use of digital-economy initiatives to curb corruption among young Nigerians.

Speaking at the commemoration of the 2025 International Anti-Corruption Day held on Tuesday in Abuja, the AGF said the administration of President Bola Ahmed Tinubu has deliberately positioned technology, innovation training, and digital-skills development at the heart of its anti-corruption strategy for young people.

The event, organized by Technical Unit on Governance and Anti-Corruption Reforms (TUGAR) domiciled at the Nigeria Extractive Industries Transparency Initiative (NEITI) had the theme: “Uniting with Youth Against Corruption: Shaping Tomorrow’s Integrity”.

Fagbemi, who delivered the keynote address, said the government believes that empowered, skilled and economically engaged youths are less vulnerable to corrupt influences.

According to him, programmes such as the 3 Million Technical Talents Programme (3MTT) and the recently launched Nigerian Youth Academy (NiYA) are already equipping millions of young Nigerians with ICT and digital-innovation skills, reducing their dependence on patronage systems that fuel corrupt practices.

“A hopeful youth is harder to corrupt; an engaged youth is harder to mislead; and an empowered youth is a powerful force for national transformation,” Fagbemi said.

He explained that by investing in digital literacy, tech entrepreneurship and innovation-driven training, the Tinubu administration aims to create a generation of young Nigerians who are globally competitive and resistant to corruption.

Beyond digital skills, the AGF pointed at several government efforts to expand educational access through the Nigeria Education Loan Fund (NELFUND), and support youth entrepreneurship via the Nigeria Youth Investment Fund (NYIF) and the iDICE programme, providing funding, training and mentorship for young innovators in tech, entertainment, agriculture and design.

Fagbemi added that the inclusion of young people in governance, through appointments and expanded civic-engagement platforms, was another strategic tool to strengthen integrity and transparency in public life.

He urged stakeholders to deepen efforts to integrate anti-corruption values into school curricula, establish integrity clubs, mentor young leaders, and leverage ICT tools to promote transparency, whistleblowing and public accountability.

Earlier, the Head of TUGAR, Mrs Jane Onwumere said the gathering was especially meaningful because it reflected a shared truth: that tomorrow’s integrity rests significantly in the hands of the youth.

“The theme therefore, is not just a slogan but a call to action and a reminder that young people are not only beneficiaries of good governance, they are co-architects of it.

“Corruption has affected lives and the economy negatively in many ways. One of such is the “japa wave” which has seen young Nigerians leave the country in droves in search of greener pastures. This syndrome has drained the country of resources and human capital. It has in many situations split the family unit, a critical foundation for anti-corruption efforts”, Onwumere, added.

In his speech, the Executive Secretary, NEITI, Hon. Musa Sarkin Adar expressed the agency’s commitment to empowering young Nigerians not only as advocates for accountability but also as active partners in shaping the future of integrity in the extractive industries and beyond.

“At NEITI, we recognize that corruption undermines opportunities for growth, distorts resource governance, and deepens inequality. We also know that a united, informed, and courageous generation can dismantle these barriers.

“This is why NEITI will continue to expand civic education, strengthen our reporting mechanisms, support youth-led innovation, and create more platforms for constructive engagement with young professionals, students, and entrepreneurs”, he added.

 


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SEC Seeks Freeze of CBEX Accounts Over N1.3tn Ponzi Scheme

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Securities and Exchange Commission (SEC) has asked the Investments and Securities Tribunal to order the freezing of bank accounts belonging to Crypto Bridge Exchange (CBEX) and 25 other defendants accused of defrauding Nigerians of about ₦1.3 trillion through an unlawful digital asset investment scheme.

SEC Seeks Freeze of CBEX Accounts Over N1.3tn Ponzi Scheme

CBEX

The request was made during the first sitting of the 6th Tribunal in case IST/OA/02/2025 between the SEC and CBEX with 25 others, presided over by tribunal chairman, Hon. Aminu Jinaidu.

The SEC urged the tribunal to compel commercial banks and financial institutions nationwide to freeze all accounts linked to the defendants.

It also sought orders for the seizure of houses and assets allegedly acquired with funds sourced from unsuspecting investors.

According to the commission, CBEX operated illegally by posing as a digital assets platform and capital market operator without registration.

“CBEX is an unregistered platform promising its users 100 percent return on investments within 30 days, which is unlawful and contrary to Section 3(b) of the Investments and Securities Act 2025,” the SEC told the tribunal.

The regulator disclosed that international authorities had previously raised concerns about CBEX.

The Securities and Futures Commission of Hong Kong issued an advisory on April 23, 2024, warning that the platform was a suspicious virtual asset entity.

The tribunal noted that CBEX and the other defendants failed to appear in court and were not represented by legal counsel.

Hon. Jinaidu therefore ordered that hearing notices be served on the defendants through national newspapers.

CBEX reportedly entered the Nigerian market in July 2024, operating via a website and mobile application, while claiming to use advanced Artificial Intelligence to generate unusually high profits from cryptocurrency trading.

Investors were promised returns of up to 100 percent within a 40 to 45 day lock-in period.

The scheme later collapsed, triggering widespread losses. Investigations revealed that CBEX functioned as a Ponzi scheme that siphoned more than ₦1.3 trillion, estimated at about $800 million, before disappearing.

The matter has been adjourned to January 27, 2026.


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Lagos Launches Tele-Vet, Nigeria’s First Veterinary Call Centre

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L-r: Asst. Chief Veterinary Officer, Dr. Olawale Olatunde; Permsec, Ministry of Agriculture and Food Systems, Mr. Emmanuel Audu; Commissioner for Agriculture & Food Systems, Ms. Abisola Olusanya; Nitroswitch Quality Assurance Officer, Mr. Israel Oluwafemi; Asst. Chief Veterinary Officer, Dr. Tolulope Akin-Oluwole; and Pathology Veterinary Officer, Dr. Esther Onyinye, at the commissioning of Nigeria's first Tele-Veterinary Call Center at the Lagos State Animal Hospital, Oko-Oba, Agege.
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The Lagos State Government, through the Ministry of Agriculture and Food Systems, has launched TELE-VET, Nigeria’s first Tele-Veterinary Call Centre, marking a groundbreaking milestone set to transform access to expert animal healthcare using mobile technology.

Speaking at the event held at the Lagos State Ministry of Agriculture and Food Systems, Animal Hospital, Oko-Oba, Agege, the state’s Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya, described TELE-VET as a transformative initiative that strengthens animal health systems, improves food safety, and accelerates agricultural innovation across the state and beyond.

She stated that technology continues to redefine global food systems, and Lagos, under the leadership of Governor Babajide Olusola Sanwo-Olu, remains committed to deploying digital solutions that enhance efficiency, empower farmers, and safeguard public health. The Commissioner explained that TELE-VET addresses long-standing challenges faced by farmers and pet owners, especially limited access to timely and professional veterinary care.

Ms. Olusanya highlighted that TELE-VET builds on the existing mobile platforms, M-Agric and M-Health, available on MTN and Glo networks, which provide daily expert tips, mentorship, and animal-care guidance. By dialing *20791#, users can subscribe for ₦100/day, ₦300/week, or ₦500/month, gaining instant access to a variety of services, while all active subscribers can access the Call Centre free of charge.

She added that the Call Centre will deliver emergency support, first-aid guidance, disease-prevention information, and livestock and pet care assistance, noting that the platform helps farmers reduce costs, save time, and access expert care without traveling long distances. She emphasized that TELE-VET will also enhance surveillance and early detection of zoonotic diseases, aligning with the One World, One Health framework that integrates human, animal, and environmental health.

The Commissioner further mentioned that TELE-VET sets the stage for future innovations, including livestock and pet health insurance, e-commerce for veterinary products, improved mobility for safe animal transport, and enhanced financing opportunities for farmers, positioning Lagos as a national leader in technology-driven agricultural transformation.

Earlier, the Permanent Secretary, Ministry of Agriculture and Food Systems, Mr. Emmanuel Audu, commended the initiative as a groundbreaking intervention that will significantly improve service delivery within the State’s veterinary ecosystem. He stressed that TELE-VET responds to the evolving needs of farmers and pet owners who require swift and professional support to enhance productivity and ensure animal well-being.

Mr. Audu noted that the Ministry has invested extensively in strengthening the infrastructure, technical systems, and human resources needed to operate a world-class veterinary call centre. He stated that the service is a strategic investment in Lagos State’s food security architecture, enabling efficient livestock health management and timely response to potential disease outbreaks.

The Permanent Secretary explained that the Call Centre will minimize animal losses, improve farm management practices, and provide timely advisory services to farmers, aligning with the Ministry’s mandate to promote sustainable agricultural practices across all 57 LGAs and LCDAs. He praised the collaboration among veterinary professionals, ICT partners, and technical teams that made the initiative possible.

Mr. Audu reaffirmed the Ministry’s commitment to continuously upgrading the TELE-VET platform to accommodate innovations that improve efficiency and expand service offerings. He encouraged residents to adopt the platform fully, noting that its success depends on widespread participation.

In his remarks, the Director of Veterinary Services, Dr. Rasheed Macaulay, stated that the launch of TELE-VET marks a new era in veterinary care delivery in Lagos State. He explained that the platform provides a practical solution to challenges such as limited manpower, delayed emergency response, and difficulties reaching farmers in remote areas by connecting residents directly to certified experts.

Dr. Macaulay added that TELE-VET will strengthen disease surveillance and reporting across the State, aiding early detection of animal diseases and preventing zoonotic infections. With real-time consultations, improved documentation, and faster escalation processes, the platform will support frontline veterinarians and promote safer, healthier food systems for all Lagos residents.


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