FG begins deduction of N50 electronic levy from transactions made by users of Opay, Moniepoint, Others

The Federal Government has commenced deduction of N50 electronic levy from transactions made by users of Opay, Moniepoint, and other financial technology companies. A notification from Opay and Moniepoint during the weekend to customers confirmed the development. According to the FinTech banks, the levy collection is in line with the Federal Inland Revenue Service’s recent…

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Moniepoint raises $110m in funding, gets unicorn status

Nigerian fintech Moniepoint has secured $110 million in a funding round led by Development Partners International, according to TechCabal. This new capital infusion nearly triples the company’s valuation, propelling it to $1 billion and positioning Moniepoint as Africa’s latest unicorn. Founded in 2015, Moniepoint has now joined the ranks of African fintech giants alongside companies…

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