Top 10 Best Fintech Companies In Nigeria You Need To Know

Will you like to know the top fintech companies in Nigeria? In this article am going to show you the list of fintech companies that are currently operating in Nigeria.

Nigeria is one of the fast-developing countries in Africa that have been making use of advanced technology to improve its business and financial sectors. This is to make things more easy for people.

Fintech companies majorly focus on providing financial services to the public using latest technology developed software.

Fintech simply means financial technology, they are an industry that is made up of different companies that use technology product to boost the financial services in which they offer.

However, a fintech company is any financial institution that majorly makes use of advanced technological equipment to run its business. With the help of different fintech companies in Nigeria today you can easily make any financial transaction from the comfort of your home with less stress.

Fintech development has led to blockchain networks, mobile banking apps, online payment gateways, and much more which almost everyone makes use of today to perform any financial transactions.


What you need to know about fintech Nigeria

There are many financial institutions in Nigeria that make use of technology product like, banks and agent banking, investment platforms, that were approved by the central bank of Nigeria (CBN) to offer financial services to individuals.

Most of this financial institutions majorly operate virtually even though that they might have a particular headquarter without physical branch but they still offer their services to their customers virtually without any restrictions.

Almost all banks in Nigeria now make use of mobile banking apps, through the bank app you can easily perform any banking transactions with your smartphone from the comfort of your home.

While, this fintech companies in Nigeria such as Kuda have make everything flexible to people because they help their customers to reduce stress because everything is done through their banking app and you do not need to visit any bank to apply for ATM card rather, you can request for KUDA ATM card from the comfort of your home and it will be delivered to you.

A very good example of fintech is the development of cryptocurrencies. Crypto is been traded virtually and you can only buy or sell online through any approved app or bank but crypto is not approved in Nigeria yet, people in Nigeria still trade crypto with the help of most fintech app like Binance.

Nevertheless, our focus here are majorly fintech companies in Nigeria that are approved by the central bank of Nigeria, will you like to know them? Keep reading…


List of best fintech companies in Nigeria

In this section am going to list out top fintech companies that are currently operating in Nigeria, there are over 200 financial technology companies in Nigeria today yet, more are still coming.

Fintech companies In Nigeria

  • Kuda bank
  • Flutterwave
  • Opay
  • Paystack
  • Fair money
  • Remita (Systemspecs)
  • Chipper cash
  • Interswitch
  • Wallet Africa
  • Bankly.

1. Kuda bank

Kuda is one of the best fintech companies in Nigeria, it is also one of the most popular banking app in Nigeria that was founded by two vibrant young men by name; Babs Ogundeyi and Musty Mustapha.

Their major reason for creating this app is to limit unnecessary bank charges and make financial transaction more easy for people.

Though, the bank is located in 151 Herbert Macaulay Way, Yaba, Lagos, Nigeria yet, their services was designed for all Nigerians which means anyone can register from anywhere from the comfort of there home.

Any physical products that you need from them, will always be delivered to you by their agent but all other services usually occurs virtually through their mobile application.

With the help of their mobile app and website they can automatically attend to over thousands of individuals within a minute with the help of automatic intelligence (AI) and this is one of the reason why they are been referred to as fintech platform.

However, kuda fintech company is fully approved by the central bank of Nigeria (CBN) and all deposits are insured by the Nigerian Deposit Insurance Corporation (NDIC) which means that your money is secured.


2. Flutterwave

Flutterwave is an international platform that is not limited to Nigeria or Africa alone it also serve people outside Africa, it was founded in 2016 to allow people to make payments online using virtual dollar cards, and it also help e-commerce business owners to receive payments from their clients.

With the help of flutterwave platform you can easily generate professional payment invoices link and send to your customers and get paid from them from anywhere, in less than 3 minutes you can Register on flutterwave and start using their unified set of payments tools.

However, flutterwave is one of the best fintech companies in Nigeria currently and it can be used by both big and small business owners who has aim of growing more higher.


3. Opay

Opay is a good fintech company in Nigeria that was created to facilitate financial transactions through the use of their mobile app. With opay you can make quick payment very fast and easy.

Your money is totally safe in your opay account because they usually scan their app and website always to make sure their is no any atom of fraud or someone trying to gain access to your account with their advanced fraud detecting machine.

Apart from making use of their app for your transaction you can also use their special USSD code to perform any financial transactions. They also help their customers to save and the customer earns up to 15% interest per annum.

There physical office is located at 8 otunba jobi fele way, Agidingbi 101233, ikeja. They partners with many other fintech companies in Nigeria such as; betway, interswitch including flutterwave etc.


4. Paystack

You can’t list out the top fintech companies in Nigeria without mentioning paystack, it is one of the great innovative in Nigeria financial technology sector because it serves as a payment gateway for people operating any legit online business mostly e-commerce store.

Paystack is a growth engine for a new generation of innovative, forward-looking organizations operating in Africa, paystack helps businesses in Africa get paid by anyone, anywhere in the world.

They also help to protect yourself and your customers with advanced fraud detection, Paystack’s combination of automated and manual fraud systems protect you from fraudulent transactions and associated chargeback claims.

The introduction of this platform in Nigeria is a very good idea and users can perform transactions using; Bank transfer, USSD, card, bank account etc.


5. Fairmoney

Fairmoney is a financial technology platform in Nigeria that is fully licensed by central bank of Nigeria and deposits insured by NDIC. they are majorly know for giving loans to people they give loan amount range between N1,500 to N1,000,000 with repayment period from 61days to 18months at monthly interest rates of about 2.5%.

However, anyone can register and get loan from fairmoney through their app or website, it is an automated online moneylending platform that provides single payment loans, installment loans and payroll loans for borrowers.

With the help of their automatic intelligence they can easily deduct the amount borrowed from your account on the due date except if you have repaid it before then.


6. Remita (Systemspecs)

Remita was launched in 2005 by systemspec in Lagos, Nigeria as a fintech company that can be helping individuals and businesses owners to send and receive payments from anywhere in the world.

It is the default payment gateway that helps the federal government of Nigeria’s treasury single account (TSA), the largest and the most impactful of it’s kind in Africa.

However, remital was created basically as a comprehensive payment solution for anyone in Africa, it also help different institutions including educational institutions like University to accept payment for their students.

It is not a news that Remita is one of the most popular fintech companies in Nigeria yet, most business owners does not know about it due to it advanced features and systemspecs designed this platform with the aim of providing the most qualitative human capital management and financial software solutions.

If your business involves accepting large amount of money from different customers then, I will recommend remita for you to use as your payment gateway to facilitate the payments.


7. Chipper cash

Chipper cash is one of the best fintech companies in Nigeria that is available in many Africa countries including Ghana which is why it is been refer to as borderless means to send and receive money.

Their application is one off the most downloaded app on play store with about 4.5 rating out of 5. The platform is legit and you use it to receive or send money to your family and friends fast and easy.


8. Interswitch

Interswitch is not a new fintech company in Nigeria but it was founded in 2002 as a transaction switching and processing company with the main focus to help businesses owners to accept payment easily.

According to interswitch limited the platform was created to austain a payment ecosystem that helps commerce evolve, businesses grow and individuals thrive.

It is one of the leading fintech companies in Nigeria with the major focus on the digitisation of payments in Nigeria. This platform is very secure and all payments are protected against fraud.


9. Wallets Africa

Many different companies keeps involving in fintech Nigeria just to make everything convenience for people, wallets Africa have being helping their users to send and receive money, and make payments through their phones.

To start making use of wallets Africa you can register through their website or download their app on Google store or app store, with just one digital wallet you can perform many purposes related to finance. You can send or receive money without paying any unnecessary charges.

Wallets Africa is fully digital bank, you can pay bills or make any transactions from the comfort of your home, they are one of the most reliable fintech company in Nigeria.


10. Bankly

With the help of modern technology bankly platform was able to be established to move money faster since money moves faster when it is digital, they also help users to save money with ease not only that you can also earn money as a bankly agent when you register with them.

Bankly is a fintech company in Nigeria and they became popular immediately people started to make use of their POS machine to perform transactions, they are very reliable and trusted platform in Nigeria.

To become a bankly agent you can simply download bankly app or visite their website to signup.


Who regulates fintech companies in Nigeria?

Central bank of Nigeria (CBN) is the authority that controls all fintech companies in Nigeria, only financial institutions that they approved that can operate in Nigeria, and before they approve any fintech company they must fully verify that the company meet their requirement and they are ready to serve the people and not to scam them.


What does fintech company do?

Fintech company makes financial services more accessible to the public by making use of modern technology to; save, invest and process loan for customers.


How does fintech companies make money?

Majority of fintech companies in Nigeria earn money from; transaction charges, subscriptions, advertising, and third parties while most fintech company like Kuda hardly charge customers for any transactions and most fintech platform like Opay earn from POS charges and other means.


Best fintech loan companies in Nigeria

The best loan company in Nigeria currently is Fairmoney and Okash loan. You can easily apply for loan from them from the comfort of your home using their mobile app without any collateral.

Opay also offer loan to user through one of their app known as easemoni loan app.


Is my money safe with fintech companies in Nigeria?

Yes, you do not need to worry about the safety of your money on any fintech platform as all your deposits are being insured by NDIC.

My advice is that before you join any fintech company make sure you read reviews about them to know if they are legit.



We have been able to review the top fintech companies in Nigeria which we see as the best, many of them may be offering the same services which is helping people to send, receive, invest and save money but yet others still offer loan to their users while some does not.

Before you register on anyone, make sure you understand what you intend to do on the platform is it to borrow loan or to use it as payment gateway? It is your intention that will help you to register on any fintech company that will serve you better.

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