* BREAKING: Ripple announces Zand Bank and Mamo as its first blockchain-powered payments clients in the United Arab Emirates (UAE)*

*Ripple is a blockchain-based digital payment network and protocol that enables fast, secure, and low-cost cross-border transactions.*
This development comes after Ripple secured a license from the Dubai Financial Services Authority (DFSA) in March 2025, *enabling the company to manage end-to-end payments for its clients.*

*Key Partnership Details:*

- *Zand Bank*: A fully licensed digital bank in the UAE, Zand Bank will utilize Ripple's blockchain-enabled cross-border payments solution to enhance its digital asset services. *The bank plans to launch an AED-backed STABLECOIN to facilitate SMOOTHER transactions.*
- *Mamo*: A UAE-based fintech company, *Mamo will use Ripple's technology to simplify GLOBAL PAYMENT PROCESSES FOR BUSINESSES AND INDIVIDUALS, offering faster and more reliable cross-border payments.*

* BREAKING: Ripple announces Zand Bank and Mamo as its first blockchain-powered payments clients in the United Arab Emirates (UAE)*

*Ripple is a blockchain-based digital payment network and protocol that enables fast, secure, and low-cost cross-border transactions.*
This development comes after Ripple secured a license from the Dubai Financial Services Authority (DFSA) in March 2025, *enabling the company to manage end-to-end payments for its clients.*

*Key Partnership Details:*

- *Zand Bank*: A fully licensed digital bank in the UAE, Zand Bank will utilize Ripple's blockchain-enabled cross-border payments solution to enhance its digital asset services. *The bank plans to launch an AED-backed STABLECOIN to facilitate SMOOTHER transactions.*
- *Mamo*: A UAE-based fintech company, *Mamo will use Ripple's technology to simplify GLOBAL PAYMENT PROCESSES FOR BUSINESSES AND INDIVIDUALS, offering faster and more reliable cross-border payments.*

*SOME NIGERIAN NEWSPAPER HEADLINES+, 13/05/2025*

Boko Haram kills five soldiers in Borno military base attack

Alleged internet fraud: Court fixes July 2 for trial of 109 foreigners

N54.9tn budget: FG, W’Bank at odds over funding strategy

Fed Govt repays first N100b Sukuk

NNPCL To Resume Kolmani Drilling In Northeast

Sex-for-grade: Varsities, polytechnics crack down on over 50 lecturers

Kano varsity shuts female hostel over immorality

2Baba, Makhadzi, Stonebwoy to headline AFRIMA launch in Ethiopia

Aruna leads Nigerian contingent to World Championships

First group of white South Africans arrive US as Trump claims they face discrimination

Trump administration revokes temporary protections for Afghans

UK unveils plan to slash annual immigration by 100,000

NAHCON airlifts over 9,000 Hajj pilgrims to Saudi Arabia

Nigerian Team wins business pitch competition for Agritech solution



-----------------------------
*DID YOU KNOW?*

* Food tastes different when you’re flying. Altitude changes your body chemistry, making certain flavors taste different than how they taste when you’re on the ground.

* Ostriches can run faster than horses, and the males can roar like lions.
-----------------------------

Tinubu celebrates veteran journalist Lekan Sote at 70

Speaker Abbas: Lawmaking alone not enough without implementation, oversight

Speakers conference seeks more action against insecurity

How ex-AGF diverted N868m defence funds using front companies – Witness

Contempt claims stall Natasha’s harassment suit against Akpabio

Court adjourns suit challenging suspension of Fubara, others

Two bag six months jail for spraying naira notes at Lagos event

Court okays request to release Kwara student’s remains for burial

Boko Haram landmine kills two education staff in Borno

CDS visits Russia, lists Nigeria’s military needs

61st Anniversary: NAF begins aerial rehearsals in Abuja, Lagos

Police oppose IPOB’s Biafran Day lockdown

Gunmen abduct Benue Immigration officer, demand N20m ransom

Former military administrator Olubolade dies at 70

FEC okays plans to reduce cost of medicines, create jobs

FEC approves N1.2trn for roads, power, aviation projects

FG renews life assurance for president, VP, federal workers

FG issues new N300bn Sukuk series

FG to restructure two underperforming DisCos – Power Minister

How aircraft manufacturer frustrated Nigerian airline – Keyamo

INEC plans 142-point electoral reforms ahead of 2027

NIMASA unveils 12 banks to disburse Cabotage Fund

NEDC engages scholars to counter misleading Arabic doctrines

Economic reforms boosted govt revenue to N31tn – World Bank

CBN policies may lower inflation to 22.1% – W’Bank

CBN rolls out measures to sustain FX inflows amid falling oil prices

Manhole: FG moves to criminalise usurpers of govt assets

TETFUND threatens to cut financial support to non-performing institutions

UTME mass failure: JAMB engages VCs, IT experts, others to probe alleged technical glitches

NAICOM unveils revised regulation for leased aircrafts

Wike to withhold Area Councils’ allocation over teachers’ strike

UniAbuja Appoints New Acting Registrar

Bauchi varsity trains 46 lecturers on research, grant application

Tinubu’s vision will make Nigeria great –Fasoranti

Fubara’s visit to Wike, sacrifice for peace — Rivers elders

Dangote reduces petrol to N825/litre amid competition with importers

Airtel Money plans IPO to compete in fintech market

Agents oppose $100 tariff on Nigerian-bound cargoes

NNPP Kano lawmaker defects to APC

Lagos APC aspirants protest today over LG primaries

Primaries: Lagos APC inaugurates Election Appeal Committee

Defections: PDP’s collapse imminent — Ganduje, Wike

PDP will survive defections, bounce back in 2027 — BoT chairman Wabara

Makarfi announces Lucky Igbinedion’s appointment to PDP BoT

2027: I remain loyal to President Tinubu, committed to APC – Sule

Fubara suspension: Ibas seeks time to file defence in court

Gov Yusuf Orders Recruitment Of 17,600 School Guards, Approves N200m Loan For Teachers

Edo: Okpebholo calls for arrest of NBM president for alleged forgery

Gov Idris lauds First Bank, says mining investment underway

Bayelsa set to immortalise Clark amid tributes from Jonathan, Diri

Lagos pledges support for National Sports Festival

Lagos State reschedules 2025 public service examinations to May 23

Kano to recruit 17,600 guards for public school security

Learning Centres Established For Out-Of-School Children, Divorcees In Adamawa

Niger shuts brothel, beer parlours near mosque

LASG targets N3tn idle assets to boost IGR

Kebbi NURTW hails Gov Idris over mass transit scheme

Plateau harps on hygiene as cholera kills four

Sokoto NLC urges Gov Aliyu to pay LG retirees’ gratuity

Tension in Ondo community as herdsman dies in clash with vigilance group

Delta protesters barricade police headquarters, demand

American couple donates foodstuff to 100 indigent persons in Imo

Kidnapped Kebbi woman freed after ransom payment

Abductors collect N5m, food items before releasing Delta victim

Man arrested for killing sister’s boyfriend in Kano

-----------------------------

*TODAY IN HISTORY*

* On this day in 1909, the Giro d’Italia cycle race was held for the first time. The Giro is one of the world’s most important cycle races. Luigi Ganna won the first edition, which went from Milan to Naples and back.

-----------------------------

Learning never exhausts the mind. – Leonardo da Vinci

Good morning
*Compiled by Hon. Osuji George osujis@yahoo.com, +234-8122200446*

Tosin Eniolorunda, the founder of Moniepoint, is a wealthy young man.

He will be 40 this year and should be unarguably one of the richest, brightest young minds of my generation.

According to unofficial estimates, his stake at Moniepoint is worth over $100 million.

But he was not always this wealthy; running and founding Monie Point changed his life.

Prior to 2017, before Moniepoint was founded, Tosin was just a tech entrepreneur who ran a software consulting company, and he was living at 1004 Estate in Lagos at that time.

What Tosin’s consulting company does is simple: provide a software solution that Nigerian banks use for their day-to-day operations.

But they were doing more than that.

They also build bank apps.

Sterling Bank and Unity Bank apps were built by Tosin and his team at Team Apt, the name of the software company.

Until one day, Tosin got an email from Sterling Bank that the bank is pulling out and does no longer requires the services of Team Apt.

Tosin’s mind went blank; he was driving on Ikoyi Road when the message came in.

Sterling Bank was an important, valuable customer, and losing them was a fatal blow for his business cash flow and a monumental setback for his young, budding tech business.

How he was able to get to his destination after digesting that mail was a miracle.

From that setback, his team went back to the trenches to strategize and plan on how to stay afloat.

From that setback, that was how the Dream Monie point was born.

For Monie Point to become a reality and not suffer a stillbirth, one man so much believed in Tosin and in his dream to revolutionize the fintech industry, one customer at a time.

His name is Olu Oyinsa, and he runs Oui Capital, an early-stage African venture capital firm that invests in fintechs and early-stage tech companies.

He met Tosin and was like, Yo! This guy is different, and because of that conviction, he invested $150,000 in Moniepoint for a 1.2% stake in Moniepoint, and his investment was done in 2019.

His understanding of the banking technology stack and payment infrastructure was impressive. I knew he was up to something exciting,” Oyinsan recalled.

Without that conviction and strong belief in Tosin and Moniepoint by Olu Oyinsan, Moniepoint could have died.

Fast forward to 5 years later, after the $150,000 investment into Monie Point was made.

Monie Point has grown, has scaled, and is now a unicorn (a company worth $1 billion and above).

That $150,000 invested into Moniepont in 2019 is now worth more than $10 millon.

Last month, Olu and his team partially took out $8 million from their investment .

How much do you have as shares in this company?
How prepared are you for this opportunity?

Every good thing always starts like a joke, is only those with future that sees above the present situation.

Tosin Eniolorunda, the founder of Moniepoint, is a wealthy young man.

He will be 40 this year and should be unarguably one of the richest, brightest young minds of my generation.

According to unofficial estimates, his stake at Moniepoint is worth over $100 million.

But he was not always this wealthy; running and founding Monie Point changed his life.

Prior to 2017, before Moniepoint was founded, Tosin was just a tech entrepreneur who ran a software consulting company, and he was living at 1004 Estate in Lagos at that time.

What Tosin’s consulting company does is simple: provide a software solution that Nigerian banks use for their day-to-day operations.

But they were doing more than that.

They also build bank apps.

Sterling Bank and Unity Bank apps were built by Tosin and his team at Team Apt, the name of the software company.

Until one day, Tosin got an email from Sterling Bank that the bank is pulling out and does no longer require the services of Team Apt.

Tosin’s mind went blank; he was driving on Ikoyi Road when the message came in.

Sterling Bank was an important, valuable customer, and losing them was a fatal blow for his business cash flow and a monumental setback for his young, budding tech business.

How he was able to get to his destination after digesting that mail was a miracle.

From that setback, his team went back to the trenches to strategize and plan on how to stay afloat.

From that setback, that was how the Dream Monie point was born.

For Monie Point to become a reality and not suffer a stillbirth, one man so much believed in Tosin and in his dream to revolutionize the fintech industry, one customer at a time.

His name is Olu Oyinsa, and he runs Oui Capital, an early-stage African venture capital firm that invests in fintechs and early-stage tech companies.

He met Tosin and was like, Yo! This guy is different, and because of that conviction, he invested $150,000 in Moniepoint for a 1.2% stake in Moniepoint, and his investment was done in 2019.

His understanding of the banking technology stack and payment infrastructure was impressive. I knew he was up to something exciting,” Oyinsan recalled.

Without that conviction and strong belief in Tosin and Moniepoint by Olu Oyinsan, Moniepoint could have died.

Fast forward to 5 years later, after the $150,000 investment into Monie Point was made.

Monie Point has grown, has scaled, and is now a unicorn (a company worth $1 billion and above).

That $150,000 invested into Moniepont in 2019 is now worth more than $10 millon.

Last month, Olu and his team partially took out $8 million from their investment .

A very successful exit success story and rare in Nigeria’s tech ecosystem

*JP Morgan* has been actively involved in the development and exploration of *stablecoins and cryptocurrencies.* The bank has been testing blockchain payments and is eyeing stablecoins, particularly those with federal insurance clarity.

JP Morgan views stablecoins as a scalable alternative to cryptocurrencies, designed to minimize price fluctuations.

The bank has also recognized the potential of stablecoins in driving institutional investment into the cryptocurrency market.

In terms of specific initiatives, JP Morgan has been working on deposit tokens, which are digital assets on a blockchain pegged to a paper currency and backed by high-quality liquid assets. *The bank has also been exploring the use of blockchain technology for cross-border payments and other financial transactions.*

Overall, JP Morgan's relationship with stablecoins and cryptocurrencies is one of exploration and innovation, as the bank seeks to leverage these technologies to improve financial services and stay ahead of the curve in the rapidly evolving fintech landscape.

*Quidax has indeed listed the compliant Nigerian naira (cNGN) stablecoin on its platform. This listing occurred on March 12, 2025, following a similar move by Busha, another provisionally licensed exchange.*

The cNGN stablecoin is actually issued by a consortium of Nigerian banks and fintech companies. cNGN Stablecoin can be swapped to WBNB, Binance Coin. *With this listing, users can now send, receive, and trade the cNGN Stablecoin with WBNB cryptocurrency and exchange it into a bank directly.*

WBNB stands for Wrapped Binance Coin. It's a wrapped version of the Binance Coin (BNB) that's pegged 1:1 to the original BNB token on the Binance Blockchain.

*Here are some notable blockchains that can work with Binance Smart Chain (BSC):*
1. Ethereum (ETH)
2. Binance Chain (BNB)
3. Cosmos (ATOM)
4. Polkadot (DOT)
5. Solana (SOL)
6. Polygon (MATIC)
7. Avalanche (AVAX)
8. Fantom (FTM)
9. Harmony (ONE)
10. OKC (OKT)

Additionally, Binance Smart Chain supports cross-chain bridges, enabling interoperability with other blockchains, such as
- Bitcoin (BTC)
- Litecoin (LTC)
- Dogecoin (DOGE)

These bridges allow for seamless transfers of assets between different blockchain networks.

*Blockchain and cryptocurrency are becoming a must for every home*

*Quidax has indeed listed the compliant Nigerian naira (cNGN) stablecoin on its platform. This listing occurred on March 12, 2025, following a similar move by Busha, another provisionally licensed exchange.*

The cNGN stablecoin is actually issued by a consortium of Nigerian banks and fintech companies. cNGN Stablecoin can be swapped to WBNB, Binance Coin. *With this listing, users can now send, receive, and trade the cNGN Stablecoin with WBNB cryptocurrency and exchange it into a bank directly.*

WBNB stands for Wrapped Binance Coin. It's a wrapped version of the Binance Coin (BNB) that's pegged 1:1 to the original BNB token on the Binance Blockchain.

*Here are some notable blockchains that can work with Binance Smart Chain (BSC):*
1. Ethereum (ETH)
2. Binance Chain (BNB)
3. Cosmos (ATOM)
4. Polkadot (DOT)
5. Solana (SOL)
6. Polygon (MATIC)
7. Avalanche (AVAX)
8. Fantom (FTM)
9. Harmony (ONE)
10. OKC (OKT)

Additionally, Binance Smart Chain supports cross-chain bridges, enabling interoperability with other blockchains, such as
- Bitcoin (BTC)
- Litecoin (LTC)
- Dogecoin (DOGE)

These bridges allow for seamless transfers of assets between different blockchain networks.

*Blockchain and cryptocurrency are becoming a must for every home*

*cNGN: Nigeria’s First REGULATED STABLECOIN Explained*

BusinessDay Newspaper
February 20, 2025
https://businessday.ng/technology/article/cngn-nigerias-first-regulated-stablecoin-explained/

*......cNGN, meaning Compliant Naira, is a STABLECOIN that is pegged 1:1 to the Nigerian Naira. This means that 1 cNGN always equals 1 Naira, making it a stable digital representation of Nigeria's currency*

*cNGN was developed by the Africa STABLECOIN Consortium (ASC), a partnership of Nigerian banks, fintech firms, and blockchain companies.*

*Key Features of cNGN Stablecoin:*

Regulated – *Issued under Nigeria’s financial regulations.*

*A Step Toward Crypto-Friendly Regulation*

Blockchain-based – *Works on decentralised financial platforms.*

AI in Finance
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