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Touch and Pay Launches Cowry Card Cashless Fare Collection Technology on New LRMT Blue Rail Line

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Touch and Pay Technologies [TAP], a Nigerian fintech company and leading processor of micro-transactions in Africa, announced today that for the first time, rail passengers across Nigeria’s largest city, Lagos, can access the newly launched Blue Rail Line using TAP’s contactless Cowry card.

Founded in 2019, by Olamide Afolabi, Kabir Yabo, and Michael Oluwole, TAP was the first payment company in Nigeria to provide payment infrastructure that allowed contactless payment cards to be used on buses and ferries.

The company continues its record of innovation by enabling contactless payment cards to be used on trains in Nigeria. TAP is helping by advancing financial inclusion among the mostly unbanked population with its effective processing of micropayments ranging from 10 cents to $10.

The partnership with the Lagos state government enables Lagosians to use the Cowry card across the 13 kilometres of track proposed for the project.

The first phase of the track, from Marina to Mile-2, supports 200,000 daily passengers, who can now seamlessly enter and exit stations through TAP’s state-of-the-art turnstiles.

Upon completion, phase two, from Mile 2 to Okokomaiko, will enable up to 500,000 daily passengers  to manoeuvre between stations Rail, Bus and Ferry easily.

In Nigeria, 64 million adults don’t have access to banks. This limits people’s ability to withdraw cash for use on public transportation.

To solve this problem, TAP created the Cowry card, an ingenious card that is used to pay for transport digitally, first trailed on buses in 2020,  widening financial inclusion for Africa’s unbanked population.

In just four years, Cowry cards have been used in six states and helped to make 3.5 million monthly contactless transactions on buses.

Riders touch their Cowry cards against the tempered glass-protected state-of-the-art turnstile validators, which use Near-field communication (NFC) technology to enable communication between cards and the automated collection points. TAP’s pay-as-you-go card dramatically lowers fare evasion.

Unlike riders on other lines, the 500,000 daily passengers using the Blue Rail Line, will not have to endure the old, arduous procedure of having their tickets manually examined. Turnstiles will operate at Alaba, Marina, National Theatre, Mile 2, and Orile.

Commenting on the project, Olamide Afolabi, Co-founder and CEO of Touch and Pay Technologies, said, “We are thrilled to be facilitating and digitising payment on behalf of the Lagos Metropolitan Area Transport Authority (LAMATA). We’ve deployed our NFC payment solutions on BRT buses, ferries, and now trains.

“Our contactless payment solutions have been a huge success. We have created a 21st century solution for today’s passengers. Up until now, train fares typically worked on low-value cash transactions, whereas most electronic cards don’t allow for payment below $10, which was problematic for many passengers.

“Our Cowry card, which enables microtransactions between 10 cents and $10, bridges this gap. People can now use a digital and modern method to pay for their train journeys without carrying huge amounts of cash.

“We are optimistic that even more passengers will discover the benefits of this fast, yet reliable technology, which unifies transportation in Lagos – for the first time.”

Since the Central Bank of Nigeria (CBN) issued its cashless policy in 2012, businesses have attempted to modernise Nigeria’s payment system. TAP is helping to advance financial inclusion among the mostly unbanked population with its effective processing of micropayments, which are essential to the economy.

TAP seeks to digitise the entire informal market with contactless cards and pave the road for genuine financial inclusion by assuring 99.9% reliability in cashless transaction procedures across the entire African economy.

Michael Oluwole, Co-Founder and Chief Growth Officer of Touch and Pay Technologies, said, “Payment is a social issue, not a technological one, which is why solutions to solve transit payment issues are a priority for us.

“In the past, foreign companies were tasked with solving our local transportation problems. We’re pleased that we are the first local company to deliver this unifying solution.”

On the launch, Elias Akin, Chief Technology Officer of Touch and Pay Technologies said “We have taken all necessary steps to ensure that our users data is secure, and the technology is very easy to use because we understand the various demography of our users”

TAP was the first payment infrastructure company in Nigeria to provide payment infrastructure that allowed contactless payment cards to be used on buses and ferries.

 


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E-Business

NDPC, 60 DPAs Collaborate on Enforcing Privacy Rights in the Use of Al

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Nigeria Data Protection Commission (NDPC) has joined sixty (60) other Data Protection Authorities (DPAs) in endorsing the “Joint Statement on Al-Generated Imagery and the Protection of Privacy.”

NDPC, 60 DPAs Collaborate on Enforcing Privacy Rights in the Use of Al

NDPC

The Joint Statement was coordinated by the International Enforcement Cooperation Working Group (IEWG) of the Global Privacy Assembly.

This underscores the growing concerns regarding the privacy risks posed by Artificial Intelligence tools capable of generating realistic images and videos of identifiable individuals.

The Joint Statement highlights concerns over the misuse of Al-powered tools to create non-consensual imagery, defamatory content, and other harmful materials, particularly affecting children and vulnerable groups.

It calls on organisations to implement strong safeguards, ensure transparency, provide effective content removal mechanisms, and comply fully with applicable data protection laws.

The current effort forms part of a continuum of steps being taken by Nigeria to ensure the responsible use of Al. It will be recalled that the Honourable Minister of Communications, Innovation and Digital Economy, Dr ‘Bosun Tijani, led the initiative for the development of the National Al Strategy.

The NDPC also issued the General Application and Implementation Directive (GAID), which, amongst others, mandates privacy by design and privacy by default in the development and deployment of Al tools.

The National Commissioner/CEO of the NDPC, Dr Vincent Olatunji, has directed that the Nigeria Data Protection Act (NDP Act) Compliance Audit Returns (CAR) by data controllers and processors of major importance will serve as a yardstick for monitoring and evaluating responsible use of Al for data processing in Nigeria.


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Jumia Tech Week 2026 Begins with Tech Deals on Smartphones, Electronics, and Everyday Technology

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Jumia Nigeria has announced the launch of Jumia Tech Week 2026, a two-week campaign offering customers access to discounted technology products across key categories, including smartphones, computing, home entertainment, and wearable devices.

Starting from March 2 to March 15, Jumia Nigeria’s Tech Week 2026 is themed ‘Tech Products for Less’ – a deliberate commitment by the e-commerce giant to drive down the cost of technology products for Nigerian consumers. The campaign offers significant price reductions across key product categories, enabling more Nigerians to access the devices they need at prices that reflect the company’s dedication to affordability and consumer value.

Jumia Tech Week will feature deals across a wide range of product categories, including mobile phones, computer systems and accessories, televisions and audio equipment, gaming products, home appliances, portable power solutions, health technology,, and wearable devices.

Customers will also have access to curated recommendations, including top smartphone deals, must-have accessories, gaming essentials, and home technology upgrades.

According to Temidayo Ojo, CEO of Jumia Nigeria, the campaign reflects Jumia’s broader commitment to making everyday technology more accessible to Nigerians.

“Technology has become an essential part of everyday life, and access to the right devices enables more people to participate fully in the digital economy,” said Ojo. “At Jumia, we remain focused on expanding access and improving the shopping experience as we continue to build Nigeria’s everyday retail destination.”

The campaign will include a range of customer engagement initiatives such as flash sales, brand days, anchor deals and interactive activities designed to enhance the online shopping experience.

Special highlight periods, described as Explosion Days, will take place on March 6 and March 13, featuring limited-time offers across selected technology categories. Customers will also be able to participate in interactive activities, including product-based games, treasure hunts,, and live shopping sessions during the campaign period.

The campaign will feature participation from leading brands including Oraimo, Silver Crest, Samsung, Ecoflow, Nivea and Aeon, offering customers a wide selection of technology, household and lifestyle products. Early access promotions already begun during the teaser period from February 16 to March 1, allowing customers to preview selected deals ahead of the official launch.

Jumia Tech Week forms part of the company’s broader strategy to expand e-commerce adoption by improving access to essential products and enhancing the customer experience across its platform. As Nigeria’s e-commerce market continues to grow, Jumia remains focused on strengthening its product assortment, logistics capabilities, and digital experience to serve customers better nationwide.

Customers can participate in the campaign by using the Jumia mobile app or visiting the Jumia website and following the conversation online using #JumiaTechWeek.

 


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House Queries NDIC: ₦5m Max Payout for Failed Bank Depositors

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Nigeria Deposit Insurance Corporation (NDIC) pays between ₦2 million and ₦5 million as deposit insurance to customers of liquidated banks, Managing Director Thompson Oludare Sunday told the House Committee on Insurance and Actuarial Matters during 2026 budget defence.

House Queries NDIC: ₦5m Max Payout for Failed Bank Depositors

NDIC

House Spokesperson Akin Rotimi Jr sought details on depositor entitlements, citing Heritage Bank’s June 2024 collapse and public concerns over financial confidence.

Sunday explained NDIC’s mandate: banks pay risk-based premiums (now under 1%, down from 15/16 of 1%) to guarantee deposits. Coverage is ₦5 million for deposit money banks, primary mortgage banks (PMBs), and microfinance banks (MMOs); ₦2 million for other financial institutions.

Using BVN, NDIC auto-pays guaranteed sums without visits for amounts up to the limit. For Heritage, post-revocation, NDIC liquidated assets—selling buildings, recovering loans, realizing investments—and paid a second ₦24.63 billion dividend on January 6.

“Anything above ₦5 million or ₦2 million depends on recoveries,” Sunday said, noting ongoing asset sales and debt chases.

Committee Chairman Ahmed Jaha Babawo commended the clarity, noting the limit rose from ₦500,000 to ₦5 million recently. Over 90% of Heritage depositors got insured sums in under four days, meeting International Resolution Deposit (IRD) standards.

Babawo added liquidation dividends would be discussed in executive session.


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