Nigerian Fintech

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US Venture Capital Firm Leads New Investment in Nigerian Startup Teamapt

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The United States-based venture capital (VC) firm, QED Investors, recently led an investment round that raised more than $50 million for the Nigerian fintech Teamapt. The investment, as well as the VC firm’s hiring of personnel tasked with spearheading its investments in Africa, seem to point to QED Investors’ newfound commitment towards the continent. Teamapt’s … Read more

Nigerian Central Bank Freezes Bank Accounts of Fintech Firms, Accuses Them of Violating Forex Regulations

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The Central Bank of Nigeria (CBN) reportedly frozen bank accounts belonging to four fintech firms for up to 180 days after a Federal High Court in Abuja acceded to an “ex parte motion.” The ex parte motion, which is a form of temporary suspension, was granted after a Nigerian chief, Micheal Kaase Aondoakaa, filed the … Read more