Flutterwave has struck a game-changing partnership with iPaylinks, East Asia’s respected payment platform, to break down barriers in Africa–Asia trade.

Olugbenga Agboola, founder and CEO of Flutterwave, has celebrated the collaboration as a major step towards delivering fast, secure, and seamless payments that make cross-border business as simple as buying locally.

He stressed that the fast-expanding Africa-Asia trade corridor presents vast opportunities but also long-standing challenges ranging from complex local bank integrations and currency risks to slow settlements that strain exporters’ cash flow.

Agboola emphasised that iPaylinks, which provides tailored global payment solutions for Asian enterprises, chose Flutterwave to overcome these hurdles and simplify trade.

“With Flutterwave’s Virtual Accounts, iPaylinks’ customers can now collect payments from African buyers in local currency just like a domestic transaction, and get settlement quickly, with no hidden fees.

Payments are more than just transactions, they’re connections. Together with iPaylinks, we’re removing the barriers that have slowed trade between Africa and Asia,” he said.

Flutterwave’s single API integration allows iPaylinks to avoid the complexity of setting up multiple bank accounts across Africa, while ensuring regulatory compliance and security.

Through Virtual Accounts, Asian exporters receive payments in local African currencies, which are then seamlessly converted and settled in their preferred major currencies such as the US dollar.

The partnership promises faster settlement cycles, within one to two days, ensuring exporters maintain healthy cash flow while importers enjoy a frictionless, trusted local payment experience. iPaylinks clients can also count on transparent pricing and competitive FX rates.

For African importers, the process feels familiar as it makes a standard local bank transfer to their Asian suppliers’ assigned virtual account. For exporters, it eliminates treasury risks and accelerates trade confidence.

“This collaboration is a game-changer for B2B trade across continents. We are committed to powering the businesses that power economies, because when trade flows, growth follows,” said Agboola.

The Flutterwave CEO underlined that as one of Africa’s regulated fintech companies with operations across multiple countries, the unicorn continues to position itself as the go-to partner for global enterprises, marketplaces, and payment companies seeking to unlock opportunities in Africa’s $4 trillion trade economy.

United Bank for Africa (UBA) Plc has secured a N5 billion loan facility from the Bank of Industry (BOI) to strengthen Nigeria’s micro, small and medium enterprises (MSMEs), with a special focus on women-owned businesses and key growth sectors.

 Oliver Alawuba, GMD, UBA

The fund, drawn from the Federal Government’s MSME Fund, is designed to boost economic activity by providing affordable financing to entrepreneurs in Green Energy, Education, Healthcare and Women-Led Enterprises.

Oliver Alawuba, group managing director/chief executive officer, UBA, said the bank remains committed to removing the financial hurdles that stifle small businesses. He noted that MSMEs form the backbone of any developing economy and must be supported to thrive.

“At UBA, we recognise the pivotal role MSMEs play in driving economic development. By offering loans at a competitive 9% interest rate with a three-year tenor, we are creating opportunities for businesses to scale. Our message to entrepreneurs is clear: don’t let this opportunity pass you by,” Alawuba stated.

Under the scheme, entrepreneurs can access up to N5 million each, with a three-month moratorium on principal repayment to allow businesses stabilise before repayment begins.

Shamsideen Fashola, group head of Retail and Digital Banking,  UBA,  described the initiative as a strategic intervention to drive financial inclusion and long-term development.

“This programme is targeted at sectors that are central to Nigeria’s sustainable growth. By providing affordable funding to these businesses, we expect to see expansion, job creation and stronger contributions to the economy,” Fashola said.

Also speaking, Alero Ladipo, group head of Marketing and Corporate Communications, UBA,  stressed the importance of the initiative for women entrepreneurs in particular.

“What sets this scheme apart is its accessibility and business-friendly terms. We urge eligible businesses, especially women-owned enterprises, to take advantage of this window by visiting any UBA branch or applying online,” she said.

UBA, one of Africa’s largest financial institutions, operates in 20 African countries and major global financial centres including the UK, USA, France and the UAE.

The bank serves over 45 million customers worldwide and employs more than 25,000 people across its network.

Central Bank of Nigeria (CBN) has released Bank Customers’ Bill of Rights and obligations to the public giving customers the right to be informed, right to choose, right to safety, right to privacy and confidentiality, and the right to redress.

The report, released at the “CBN Fair” held in Lagos, with theme: “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development”.

In the bill of right customers also have  right to good service, right to equality and right to free monthly statement of account.

On the other hand, the report listed certain obligations that a customer owes to his or her bank.

They include duty to financial obligations, duty to protect instruments and information, duty to provide factual information and not to mislead the bank, duty to report suspected fraud or error and duty of personal safety and safety of assets.

The document, described the customer as the most important person in the economy and every business succeeds only when the customer is happy.

Describing the customer as a king, it said: “As a king, the customer has many rights. But a king also has duties which he owes himself and the society. In Nigeria, customers of banks have certain rights and duties guaranteed by law, regulation and conventions”.

The report disclosed that a bank customer, has a right to disclosure of information from his/her bank on products and services the bank offers.

“The information provided must be complete, relevant and truthful. Your bank must explain to your understanding all contractual terms and charges prior to the consummation of any agreement or contract. This right enables you to have relevant information in order to make rational choices. It amounts to a breach of right if your bank fails to provide this information or deliberately misleads you in anyway,” it said.

According to the apex bank, bank customers also have a right to select from the range of products and services made available by your bank at competitive prices.

“This means that as a customer, you can, at all times, decide on the product or service to accept/purchase and the ones to decline. It is wrong for a bank to restrict your choices or compel you to accept/purchase products or services that are ill-suited for your needs. Where you are not satisfied with your bank’s service delivery on any product or service, you have the right to end the contract or even the banking relationship provided you settle all outstanding commitments,” it said.

The CBN explained that the right to safety requires a bank to guarantee all its customers a secure and conducive banking environment devoid of threats to their safety and health.

“You have the right to be reasonably protected from accidents while on the premises of your bank. You also have the right to be protected from negative effects of pollution of any kind whether arising from your bank’s operations or from other sources. It is necessary to stress that your bank is obligated to adhere strictly to applicable safety and directives to ensure that your safety and well being are adequately guaranteed while you are on the premises of your bank,” it said.

Continuing, the apex bank also highlighted the customers right to privacy and confidentiality.

It explained that as a bank customer, one has the right to freedom from disclosure of your account details by your bank as intrusion into your account by third party.

In other words, a bank is not to divulge your account information to a third party; a bank must also protect customers’ information from unauthorized access by a third party.

It however, stated that there are, expectations to this right where a bank is required by law to make disclosure; and where a customer consents to the disclosure.

“A bank must provide its customers a redress mechanism to express their displeasure or grievance. The mechanism must be free, accessible, transparent, timely and convenient. You have a right to efficient complaints management system through which you can lodge complaints against your bank. You also have the right to be kept abreast of resolution process (acknowledgment, feedback, updates, and explanation) and ultimately, basis of decision. Where you are not satisfied with the decision of your bank, you have the right of review either by your bank, the Central Bank of Nigeria (CBN) or the court,” it stated.

The CBN however, stated that all customers have a right to value for their money which involves the right to be treated with respect and dignity by banks and their representatives.

“The hallmark of banking is customer satisfaction and as such your bank would have failed if it was unable to offer quality and value-adding banking services to you as a customer. Part of this right is that your bank must provide appropriate response to your needs and complaints,” it said.