In a move that could have significant implications for Nigeria’s digital banking landscape, Onafriq, a leading digital payments platform, has announced its exit from agent banking operations in Nigeria. The news was first reported by Vanguard News, a reputable Nigerian media outlet. According to the report, Onafriq has decided to focus on other areas of its business, leaving behind its agent banking operations in the country. This development comes at a time when the Nigerian naira has been experiencing a steady depreciation, which has put pressure on digital banking platforms operating in the country. It remains unclear how this decision by Onafriq will affect its existing agent banking partners and customers. Some industry insiders have suggested that this could create an opportunity for other players in the market to expand their operations. This is a developing story, and more details are expected in the coming days. Nigerian readers should stay tuned to EventsNigeria.com for further updates.
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