Onafriq and PAPSS Launch Africa’s First Instant Naira Wallet Payments from Nigeria to Ghana
Onafriq Nigeria Payments Ltd, a CBN-licensed payment service provider, partners with The Pan-African Payment and Settlement System (PAPSS) to pilot the continent’s first wallet-based outbound payments from Nigeria to Ghana – fully in Naira and instant, without relying on hard currency conversion, in partnership with Banks and Mobile Money Operators.
The pilot service, approved by the Central Bank of Nigeria (CBN), enables cross-border intra-Africa payments for individuals, merchants, and traders. In particular, the service will benefit SMEs, the real engine of intra-African trade; all now have access to a faster, cheaper way to reach customers and suppliers across the border. By reducing barriers to cross-border trade, the new service will allow these businesses to grow their addressable markets and activity. From the 1st of December, this service will be fully operational for a 6-month period.
