Web Search API

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    "question": "latest news about fintech in Nigeria",
    "answer": "[\n  {\n    \"link\": \"https://businessday.ng/technology/article/nigerian-fintechs-regain-top-spot-with-140m-in-funding/\",\n    \"summary\": \"In the first half of 2024, Nigerian fintech startups secured $140 million across 24 deals, leading African fintech funding. This marks a significant recovery, positioning Nigeria ahead of Kenya, Egypt, and South Africa in fintech investments.\"\n  },\n  {\n    \"link\": \"https://punchng.com/sec-to-make-nigeria-africas-fintech-capital-with-effective-regulation/\",\n    \"summary\": \"The Securities and Exchange Commission (SEC) of Nigeria is implementing a balanced regulatory framework to position the country as Africa's leading fintech hub. Initiatives include the Accelerated Regulatory Incubation Program, allowing fintech firms to test business models in controlled environments before full market entry.\"\n  },\n  {\n    \"link\": \"https://www.pulse.ng/articles/business/domestic/fraudsters-steal-over-naira5-billion-from-3-fintechs-in-8-months-2024072619561532058\",\n    \"summary\": \"Between November 2023 and July 2024, three Nigerian fintech companies suffered losses exceeding ₦5 billion due to fraudulent activities, including insider involvement. Notable incidents involved platforms like Patricia and Flutterwave, highlighting the need for enhanced cybersecurity measures in the sector.\"\n  },\n  {\n    \"link\": \"https://marketnewsng.com/2024/11/27/sec-no-investor-will-lose-funds-to-fintech/\",\n    \"summary\": \"The SEC has reassured investors about the safety of their investments amid the rapid growth of fintech in Nigeria. Emphasizing the importance of adapting to technological advancements, the SEC is enhancing its Risk-Based Supervision framework to better protect investors and ensure market stability.\"\n  },\n  {\n    \"link\": \"https://guardian.ng/business-services/new-fintech-launched-in-nigeria-to-deepen-financial-inclusion/\",\n    \"summary\": \"QorePay, a new fintech company, has launched in Nigeria with the aim of deepening financial inclusion by empowering small and medium enterprises (SMEs). The company plans to support over 50,000 businesses and merchants within the next two to three years, offering seamless and secure payment solutions.\"\n  },\n  {\n    \"link\": \"https://www.fintechinshorts.com/unlimint-expands-reach-to-nigeria/\",\n    \"summary\": \"Global fintech company Unlimint has received its Payment Solution Service Provider (PSSP) license from the Central Bank of Nigeria, allowing it to operate as a recognized payment service provider in the region. Unlimint aims to provide diverse payment solutions tailored to the Nigerian market, enhancing financial services accessibility.\"\n  },\n  {\n    \"link\": \"https://punchng.com/fintech-aims-to-boost-foreign-payments/\",\n    \"summary\": \"Due Network, a fintech startup, plans to launch a global payment platform in Nigeria to facilitate borderless multi-currency accounts and seamless international money transfers for businesses and individuals. The platform aims to address inefficiencies in the global payments ecosystem by enabling faster and more secure transactions.\"\n  },\n  {\n    \"link\": \"https://techcabal.com/2024/12/12/the-rapid-growth-of-fintech-in-nigeria/\",\n    \"summary\": \"Nigeria's fintech sector is experiencing rapid growth, driven by a young, tech-savvy population and increasing access to digital financial services. However, challenges such as inadequate infrastructure in rural areas and cybersecurity concerns persist, presenting opportunities for further innovation and expansion in the industry.\"\n  },\n  {\n    \"link\": \"https://en.wikipedia.org/wiki/AfriGo_Pay\",\n    \"summary\": \"AfriGopay Financial Services Ltd, an affiliate of the Nigeria Inter-Bank Settlement System (NIBSS), has been licensed by the Central Bank of Nigeria to deploy and manage the AfriGo card scheme. Since its establishment in 2023, AfriGo has introduced various products, including debit, credit, prepaid, and virtual cards, with over 3 million cards ordered and available as of March 2024.\"\n  },\n  {\n    \"link\": \"https://www.ft.com/content/a5b0aa78-2e8d-456a-9784-ffd5f9b9bbbd\",\n    \"summary\": \"A US federal court has fined Nigerian businessman Dozy Mmobuosi and his companies over $250 million and barred him from serving as a director of a public company due to fraud charges. The SEC accused Mmobuosi of inflating financial metrics to deceive investors, with allegations of fabricating data about customer numbers and assets.\"\n  },\n  {\n    \"link\": \"https://www.reuters.com/technology/google-among-investors-putting-110-million-into-nigerias-moniepoint-2024-10-29/\",\n    \"summary\": \"Nigeria-based fintech company Moniepoint has raised $110 million in a funding round led by investors including Google, Development Partners International, Lightrock, and Verod Capital. The investment aims to scale digital payments and banking solutions across Africa, with Moniepoint achieving 'unicorn' status and plans to expand its comprehensive business platform.\"\n  }\n]",
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    "timeStamp": "2025-04-20T17:50:47.45414+01:00"
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