Naira Depreciation: Onafriq exits Nigeria’s agent banking

By Juliet Umeh Pan-African technology company, Onafriq, has announced plans to wind down its agent banking business in Nigeria, operated under the Baxi brand by Onafriq Nigeria Payments Limited, citing inflation, naira depreciation and intensifying competition.

The company said the economic pressures had increased operating costs and affected transaction volumes, while the rapid growth of […] The post Naira Depreciation: Onafriq exits Nigeria’s agent banking appeared first on Vanguard News