News
WorldRemit Identifies Top 20 Migrant Moments of 2020 @ International Migrants Day

WorldRemit, a leading cross-border payments company, celebrated International Migrants Day yesterday by announcing its list of the top 20 Migrant Moments of 2020. This list features developments which have had significant impacts on communities across the world.

From the first COVID-19 vaccine to the US presidential election to SpaceX – each of these milestones have been influenced by migrants from around the world. 2020 marks the 20th anniversary of International Migrants Day and the 30th anniversary since the adoption by the UN General Assembly of the International Convention on the Protection of All Migrant Workers and Members of their Families1.
WorldRemit has compiled this list to bring attention to all those who have managed to make a positive difference during this exceptionally challenging year. The company aims to support migrant communities as well as their family and friends every day, whilst celebrating their many successes throughout the year, and for many years to come.
The 2020 list includes: COVID-19 Vaccine: German couple of Turkish descent, husband and wife Uğur Şahin and Özlem Türeci, have been credited with the discovery of the Pfizer/BioNTech Covid-19 vaccine that is being distributed across the globe.
Senator Kamala Harris: Kamala Harris became vice-president elect following the 2020 US Presidential election. In 2017, she was sworn in as a United States Senator for California, becoming the second African-American woman and first South-Asian American senator in history. Though she was born in Oakland, California, Harris’ parents emigrated to the United States from India and Jamaica.
Future Stars: WorldRemit and Arsenal Football Club welcomed the winners of the Future Stars competition to London in January. Chinasa Mandy Ukandu of Nigeria and Luis Alejandro Castañeda from Colombia, won an all expenses paid trip to London to take part in a personalized training program with Arsenal Football Club’s Development coaches.
Zoom boom: Zoom, the videoconferencing platform which has allowed friends, families and colleagues to stay in touch during Covid-19, was founded by Eric Yuan, a Chinese migrant to the United States. At its peak, the firm counted more than 300 million daily participants in virtual meetings, while paying customers have more than tripled.
Project 8000: WorldRemit was the main sponsor of the Project 8000 programme in Singapore. Project 8000 is a community outreach initiative to give thousands of handwritten ‘thank you’ cards to frontline Covid-19 healthcare workers at the Tan Tock Seng Hospital (TTSH) in Singapore, led by student Marion Lee.
Deliveroo and DoorDash: DoorDash, America’s most popular meal delivery app, was started by a Chinese American migrant, Tony Xu. Meanwhile Deliveroo was co-founded by William Shu, a Taiwanese American entrepreneur. DoorDash has launched a number of initiatives during the pandemic. In October, it launched the Reopen for Delivery campaign, with the stated aim of bringing together brick and mortar restaurants that have closed due to the pandemic.
Patoranking: WorldRemit signed Patoranking as the Global Brand Ambassador for its Africa-focused WorldRemit Entrepreneurs Program. The WorldRemit Entrepreneurs Program will run simultaneously in Nigeria, Ghana, Kenya, and Zimbabwe, from November 2020 through to the end of January 2021. WorldRemit customers from around the world are encouraged to send a minimum of £50 (or its equivalent value in their local currency) to recipients in Nigeria, Ghana, Kenya, or Zimbabwe to win the opportunity to nominate a lucky entrepreneur.
WorldRemit celebrated Philippine Independence Day by highlighting the many achievements of the Filipino diaspora which included one of the youngest ever recipients of the Royal Bank of Canada’s Top 25 Canadian Immigrant Award.
Transfer Tracker app: WorldRemit launched The WorldRemit Transfer Tracker mobile app for recipients of money transfers, which allows them to track their remittances. The WorldRemit Transfer Tracker App is now available through the Google app store and is also free to download through the app store in 90 countries in iOS and Android.
SpaceX Dragon 2: The spacecraft made its first crewed flight to the International Space Station on May 31, 2020 as part of the Commercial Crew Program, enabling American human orbital spaceflight capability for the first time since the Space Shuttle’s retirement in 2011.
Television Commercial: WorldRemit released global television commercials across key markets to promote its transparent pricing strategy and the opportunities created by connecting people through international money transfers.
NHS workers: Almost 1 in 17 (14%) of the NHS’s 1.28 million staff report a non-British nationality, amounting to approximately 170,000 key workers. India is responsible for the most NHS workers from outside the UK, followed by the Philippines.
Earlier this year, WorldRemit gave away £400,000 worth of vouchers to NHS workers as a token of appreciation for their service and the sacrifices they are making throughout the pandemic.
Edward Enninful and Misan Harriman: Edward Enninful is the Editor-In-Chief of British Vogue and an advocate for better representation in the fashion industry. He is the only black editor in history to lead Vogue magazine. Enninful commissioned black photographer Misan Harriman to shoot Vogue’s UK September issue – traditionally the magazine’s most important edition. As well as being one of the most widely-shared photographers of the Black Lives Matter movement, Harriman is the first black person to shoot a cover of British Vogue in the magazine’s 104-year history.
Netflix launches Selena series: Netflix released its biographical drama that follows Selena Quintanilla Lopez’s rise to fame and the sacrifices she and her family make along the way charting her enduring legacy as a Mexican-American icon.
David Olusoga: David Olusoga is a British-Nigerian historian and writer. In response to the Black Lives Matter movement, Olusoga’s Black and British: A Forgotten History was broadcast on the BBC. The documentary was awarded a BAFTA when originally produced in 2016. Olusoga was also named on the 2021 Powerlist.
Parasite: Parasite, a film written by South Korean native Bong Joon-ho, became the first non-English language film to win the Oscar for Best Picture in the 92-year history of the awards.
Adewale Adeyemo: Among Biden’s team of top cabinet picks and economic advisers is Nigerian-born Adewale Adeyemo, who served as a senior international economic adviser in the Barack Obama administration. Adeyemo will be the first African to occupy the seat of Deputy Treasury Secretary.
As part of efforts to create opportunities for those in developing countries, WorldRemit gave away tablets to students in countries including India and Guatemala following the pandemic-related disruption to schooling.
A 90-year old lady named Margaret Keenan from Coventry, became the first person in the world to receive the Pfizer & BioNTech COVID-19 vaccine, which was administered by Filipina nurse May Parsons.
News
NGX Unveils Net-Zero Plan for Greener Capital Market

Nigerian Exchange Limited (NGX) has launched the NGX Net-Zero Programme to guide listed companies toward clear carbon reduction pathways and enhanced climate disclosures aligned with global investor standards.

NGX
The high-level launch engaged chief executives of quoted firms alongside development partners including German Investment Corporation KfW, DEG, and African Foresight Group (AFG), NGX’s implementation partner. Issuers and investors discussed financing decarbonisation, sustainability practices, and attracting climate-aligned capital.
NGX Group Chairman Dr Umaru Kwairanga described the initiative as concrete climate action, commending partners for two years of groundwork. “Today marks leadership and decisive action. Climate change has become a core business imperative, with capital markets mobilising capital and setting standards,” Kwairanga said.
He positioned NGX Net-Zero to support emissions measurement, disclosure, capacity building, and sustainable finance access, urging CEOs to embrace it strategically rather than as compliance. Kwairanga reaffirmed NGX’s goal to make Nigeria’s capital market Africa’s green finance hub.
Group CEO Temi Popoola called climate action a business imperative, noting sustainability-embedded firms attract capital, manage risks, and stay competitive. DEG Management Board Member Monika Beck highlighted partnerships scaling impactful, commercially viable climate solutions.
The event closed with a ceremonial gong marking the programme launch and send-off for outgoing DEG Regional Director Bernd Telemann.
News
Nigeria Off EU High-Risk Money Laundering List in Major Financial Win

Nigerian Financial Intelligence Unit (NFIU) has hailed Nigeria’s removal from the European Union’s list of high-risk third countries for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) as a landmark achievement endorsing the nation’s reform efforts.

Nigerian Financial Intelligence Unit (NFIU)
NFIU CEO Hafsat Abubakar Bakari said the delisting, contained in European Commission Delegated Regulation (EU) C (2025) 8460 adopted December 4, 2025 and effective January 29, 2026, affirms sustained AML/CFT and Counter Proliferation Financing (CPF) reforms.
The move follows Nigeria’s exit from the FATF Jurisdictions under Increased Monitoring after addressing strategic deficiencies, alongside Burkina Faso, Mali, Mozambique, South Africa and Tanzania.
Bakari noted the European Commission recognised Nigeria’s strengthened AML/CFT effectiveness, closed technical gaps, and fulfilled FATF Action Plan commitments leading to grey list removal in June and October 2025.
The delisting eliminates enhanced due diligence requirements for EU financial transactions, easing compliance, boosting cross-border flows, and enhancing Nigeria’s appeal for European trade, investment and partnerships.
The NFIU attributed success to President Bola Ahmed Tinubu’s political will and collaboration among National Assembly, law enforcement, regulators, judiciary, private sector and development partners.
The agency reaffirmed commitment to ongoing FATF, GIABA, EU engagement and domestic framework resilience to maintain international confidence in Nigeria’s financial system.
News
FG Directs Banks, Fintechs to Remit VAT on Service Fees

The Federal Government has directed all banks and fintechs to collect and remit 7.5 per cent value-added tax on certain electronic banking services, effective Monday, January 19, 2026, according to an email notice issued by payment platforms.

The VAT will apply to electronic banking charges, including mobile money transfers, USSD transaction fees, and card issuance fees, according to an email notice on Wednesday shared with customers by Moniepoint.
For example, if a bank charges N100 to make a transfer, the 7.5 per cent VAT will be applied to that service fee, not the money being sent.
“From Monday, January 19, 2026, we are required to collect a 7.5 per cent VAT, to be remitted to the Nigerian Revenue Service (formerly known as the Federal Inland Revenue Service).
“VAT will apply to certain banking services that include electronic banking charges such as mobile banking fees (transfers), USSD transaction fees, and card issuance fees,” the email read.
Other operators are expected to issue similar notices to their customers in the coming days. Services that will remain exempt include interest earned on deposits and savings, meaning customers will not pay tax on the returns from their accounts.
The NRS, formerly known as the Federal Inland Revenue Service, has set the deadline to ensure that all commercial banks, microfinance banks, and electronic money operators comply with the collection and remittance requirement.
Moniepoint stressed that this is not a price increase but a statutory obligation. “Moniepoint is required to collect and remit VAT to the Nigerian Revenue Service,” the company said in a statement.
The move is part of the government’s broader efforts to standardise VAT collection on digital financial services and expand revenue generation amid Nigeria’s growing digital economy. VAT on banking transactions is not entirely new; the NRS is now enforcing uniform collection rules across all platforms, ensuring compliance across the sector.
Customers have been assured that the new tax will be clearly itemised, with the VAT shown separately on transaction statements and reports.
In December, several commercial banks informed customers that the N50 stamp duty would be deducted on electronic transfers of N10,000 and above, following the commencement of provisions of the new Tax Act.
The charge, previously known as the EMTL, has now been formally reclassified as stamp duty and will be applied as a one-off fee on qualifying electronic transfers.
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