Technext

Most banking apps expect their users to navigate complicated menus and learn how to use various features. However, Xara aims to change that by allowing customers to interact with a friendly AI assistant through WhatsApp. This means that if you need to send money, pay a bill, or check your spending, you can simply type a message, send a voice note, or even share a picture. The assistant will understand your request and help you with your financial task without the hassle of digging through menus.

Dangote Petroleum Refinery is making headlines with a remarkable turnaround, reporting a net profit of $4.73 billion for the first nine months of 2026. This impressive figure marks a dramatic recovery from the $117.2 million loss seen during the same period last year, fueled by a surge in revenue that has more than doubled ahead of the company’s eagerly anticipated initial public offering (IPO).

Kuunda, a digital lending company operating across Africa, has completed a $5 million share sale that lets some early investors sell their stakes while bringing in a larger long-term shareholder. E4E Africa, an investment firm, led the transaction, while existing investors Accion Ventures, Portugal Gateway Fund, and Seedstars Africa Ventures also increased their stakes.

Nigerian tech founders often sell the country’s dream with a single, seductive metric: a population of over 200 million people. That demographic dividend is rapidly becoming an illusion. According to the 2026 MPI Report, between 2021 and 2024, an additional 17.9 million Nigerians fell into acute multidimensional poverty.

In the wake of a strike by e-hailing drivers in Lagos, powered by the Amalgamated Union of App-based Transporters of Nigeria (AUATON) and the reactions generated, ride-hailing company inDrive has expressed commitment to the welfare of drivers, noting that it still offers the lowest commission in the industry.

Since the National Economic Council (NEC) set the₦145 per linear meter Right of Way (RoW) benchmark in 2013, the federal government has yet to achieve a uniform price across all states. For over a decade, this issue has been a heavy battleground between federal agencies, state governors, and telecom operators due to its profound impact on the nation’s digital landscape.

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OPay has emerged as a significant player in Nigeria’s digital payments market, facilitating transfers, bill payments, and various financial services for millions of users. Its expanding presence has raised the question of how it compares financially to established banks such as Access Bank, UBA, Zenith Bank, FirstBank, and GTBank. In its recent financial filing, OPay provided an update on its performance for the six months ending June 30, 2026.

The Nigeria Inter-Bank Settlement System (NIBSS) is stepping up its game with the launch of the National Payment Stack (NPS), an innovative instant payments platform powered by technology from US-based Transactility. This cutting-edge system is set to revolutionise digital transactions across Nigeria, supporting seamless transfers, QR code payments, and more.

A video of drivers protesting against inDrive and Bolt is trending on X, with one driver demanding that inDrive “pack your load and go” while Bolt “increase your price”. It surfaced on Monday, Oct 12, as e-hailing drivers began an indefinite strike. The clip, posted by Nigeria Stories, had passed 62,000 views at the time of filing this report. The video shows drivers chanting “inDrive must go” and “enough is enough”. The camera stays mostly on one man, who is not named.