Moniepoint Expands Tech Talent Development Efforts With DreamDevs Bootcamp To Tackle Nigeria’s Digital Skills Gap In 2026

Moniepoint has intensified efforts to strengthen Nigeria’s technology workforce through its DreamDevs Bootcamp, a software engineering training programme designed to equip young developers with industry-ready skills and help address the growing shortage of digital talent across the country.

The fintech company announced the graduation of the second cohort of the programme, underscoring its commitment to developing a pipeline of skilled software engineers as Nigeria’s digital economy continues to experience rapid growth. Increased activity in fintech, digital payments, e-commerce, cloud services, and emerging technologies has created strong demand for experienced engineering professionals, with available talent struggling to keep pace.

As businesses across Africa accelerate digital transformation, concerns about the availability of qualified software developers have become more pronounced. Industry projections suggest the global technology sector could face a significant shortage of developers by the end of the decade, creating economic consequences for companies and national economies that depend on digital innovation.

Brandspur Banking News Desk reports that Moniepoint views the DreamDevs initiative as a long-term investment in Nigeria’s technology ecosystem rather than simply a recruitment channel. The company says sustainable engineering excellence requires structured training, mentorship opportunities, practical experience, and exposure to real-world software development environments.

According to Moniepoint, the programme has already produced tangible results, with some graduates from the first cohort securing positions within the company’s engineering division. Beyond internal recruitment, the broader objective is to contribute to a stronger and more competitive technology talent pool across Africa.

The initiative also complements ongoing national efforts aimed at improving technical skills development. Moniepoint is one of the major private-sector supporters of the Federal Government’s 3 Million Technical Talent (3MTT) programme, which seeks to train millions of Nigerians in digital and technology-related competencies.

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While the 3MTT programme focuses on expanding access to technical education at scale, Moniepoint says DreamDevs provides a more specialised pathway that supports participants from advanced training through potential employment opportunities within a professional engineering environment.

The programme reflects a wider trend of private-sector participation in workforce development as companies increasingly invest in talent creation to sustain growth within Nigeria’s digital economy. Industry stakeholders have repeatedly stressed that technology skills development is essential to maintaining competitiveness and attracting further investment into the sector.

Nigeria continues to produce thousands of technology graduates and self-taught professionals annually. However, employers have expressed concerns about talent retention, particularly as skilled developers increasingly relocate abroad in search of better career opportunities and higher earnings.

To further support local innovation, Moniepoint recently unveiled plans to invest ₦3 billion in the establishment of innovation hubs at three Nigerian universities. The facilities are expected to provide students with access to technology resources, mentorship programmes, and entrepreneurial support.

The innovation hubs will be located at Obafemi Awolowo University, University of Nigeria, Nsukka, and Ahmadu Bello University. Moniepoint said the institutions were selected to ensure technology opportunities are distributed across different regions of the country rather than concentrated in a single technology hub.

Analysts believe initiatives such as DreamDevs and the university innovation centres could play a significant role in strengthening Nigeria’s digital workforce, supporting entrepreneurship, and creating a deeper pool of skilled professionals capable of meeting the demands of a rapidly evolving technology sector.

With digital services becoming increasingly central to economic growth, programmes focused on talent development are expected to remain a key component of efforts to position Nigeria as one of Africa’s leading technology and innovation destinations.

Nigerian Banks Expand Customer Base In Kenya As Profit Growth Proves Uneven Across Lenders In Latest 2026 Market Shift

Nigerian banks are strengthening their presence in Kenya’s financial market, recording notable growth in customer deposits, even as profitability remains uneven across major lenders operating in the East African economy in 2026.

Fresh industry data indicates that leading Nigerian banking groups, including Guaranty Trust Holding Company, United Bank for Africa, and Access Holdings, have significantly expanded their deposit bases in Kenya, with figures showing a doubling of customer deposits across their respective subsidiaries. Despite this strong balance sheet growth, only one of the major Nigerian lenders operating in the Kenyan market has maintained consistent profitability, highlighting a widening gap between deposit mobilisation and earnings performance.

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Brandspur Banking News Desk reports that the divergence underscores a growing challenge for Nigerian banks expanding across Africa, where aggressive retail and corporate banking expansion is delivering liquidity gains but not always translating into stable profit returns due to operational costs, regulatory differences, and competitive pressure in host markets.

Guaranty Trust Holding Company, United Bank for Africa, and Access Holdings have all intensified their regional strategies in Kenya, positioning the market as a key growth hub for East African expansion. However, the latest performance trends suggest that while customer acquisition and deposit growth remain strong indicators of market penetration, profitability continues to lag behind expectations for most operators.

Market analysts note that the situation reflects broader realities facing African cross-border banking expansion, where rapid entry into high-potential markets often requires substantial upfront investment in branch networks, digital infrastructure, and compliance systems before earnings stabilise.

As competition intensifies within Kenya’s banking sector, attention is increasingly shifting toward how Nigerian lenders will balance deposit growth with cost efficiency and sustainable profit generation in the coming financial cycles.

Telecom Operators Reject NBS $7.24 Million Foreign Investment Figure For Nigeria’s Sector In 2026

Telecommunications operators in Nigeria have disputed the $7.24 million foreign capital importation figure attributed to the sector in the first quarter of 2026 by the National Bureau of Statistics (NBS), insisting that the reported amount does not reflect the true scale of investment currently flowing into the industry.

The operators argue that the published data significantly understates actual foreign inflows into Nigeria’s telecoms ecosystem, which they say continues to attract substantially higher levels of funding driven by infrastructure expansion, digital services growth, and ongoing network upgrades across the country. The disagreement has raised fresh concerns over the accuracy of investment tracking in one of Nigeria’s most critical and fast-growing economic sectors.

According to industry stakeholders, the figures released by the NBS fail to capture the full range of capital deployments by major telecom companies, particularly investments structured through parent companies, reinvested earnings, and phased infrastructure financing arrangements that may not be immediately reflected in quarterly capital importation reports. They maintain that such methodological gaps distort the perceived investment climate in the sector.

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Brandspur Banking News Desk reports that operators are calling for improved coordination between regulators, industry players, and statistical agencies to ensure more comprehensive reporting frameworks that accurately reflect both direct and indirect foreign capital flows into telecommunications.

The controversy comes at a time when Nigeria’s digital economy continues to expand, with telecoms serving as a backbone for financial technology, e-commerce, and data-driven services. Industry players warn that underreported investment figures could influence policy decisions, investor sentiment, and broader economic planning if not addressed.

Stakeholders are now urging the NBS and relevant regulatory bodies to engage more closely with telecom operators to reconcile data collection methods with the operational realities of modern multinational investment structures in the sector, in order to improve transparency and restore confidence in official investment statistics.

Kantar Report Exposes 60-Point Gap Between African Consumers’ Sustainability Intentions And Purchasing Behaviour

A new study by global research firm Kantar has revealed a significant disconnect between what African consumers say about sustainability and how they actually behave when making purchases, highlighting a 60-point gap across major markets including Nigeria, Kenya and South Africa.

The analysis shows that while 93 percent of consumers across the continent express a willingness to choose environmentally friendly products, only 37 percent consistently act on those intentions in real purchasing decisions.

The findings, published in a whitepaper titled “Progress — The New Rules Of Growth In Africa,” suggest that the gap is driven less by lack of awareness and more by structural realities shaping consumer behaviour across African markets.

Brandspur Brand News reports that the study challenges the traditional interpretation of the so-called “value-action gap,” arguing that the issue should not be seen as consumer inconsistency but rather as a reflection of economic and social constraints that influence daily choices.

According to the report, affordability remains a dominant factor shaping purchasing decisions, with many consumers prioritising cost, durability and immediate utility over environmental considerations. It also notes that community influence and resource limitations play a central role in how buying decisions are made across the region.

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The research further argues that conventional sustainability messaging often fails to align with the lived realities of African consumers, where decisions are frequently guided by practicality rather than long-term environmental goals.

In the case of Nigeria and other key markets, the analysis indicates that sustainability is rarely treated as an independent purchasing criterion but is instead weighed alongside essential needs such as affordability and access to functional products.

Kantar’s findings suggest that brands seeking to close the gap between intention and action will need to move beyond awareness campaigns and focus more on product design, affordability and practical value that fits within existing economic pressures.

The report also highlights that companies achieving stronger market performance in Africa are those embedding utility and everyday relevance into their offerings, rather than relying solely on sustainability messaging.

It concludes that closing the gap will require a shift in how businesses design, position and deliver products, particularly in markets where trust, community influence and economic constraints strongly shape consumer behaviour.

PayPal Expands PYUSD Stablecoin Access Across 70 Markets, Including Africa, To Boost Cross-Border Payments

PayPal has expanded its U.S. dollar-backed stablecoin, PYUSD, to 70 global markets, including several African countries, in a move aimed at improving cross-border payments and strengthening digital financial infrastructure for individuals and businesses.

The expansion allows eligible users in newly supported regions to buy, hold, send and receive PYUSD directly within their PayPal accounts, marking one of the company’s largest international cryptocurrency rollouts since the stablecoin’s launch in the United States in 2023.

The fintech giant said the initiative is designed to address long-standing inefficiencies in global payment systems, particularly high transaction costs and slow settlement times that continue to affect cross-border commerce, especially in emerging markets.

Brandspur Brand News reports that the rollout reflects growing competition among global payment providers to offer faster, more efficient blockchain-based alternatives to traditional banking rails.

With the latest update, users in supported markets can also transfer PYUSD to other digital wallets, convert it into local currencies for withdrawals, and use it for everyday transactions. PayPal also confirmed that users may earn rewards on PYUSD balances held within their accounts.

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For businesses, the company said PYUSD will improve liquidity management by enabling faster settlement of payments compared to conventional systems. Merchants are also expected to benefit from lower foreign exchange costs, quicker access to funds and improved efficiency in international transactions.

PayPal noted that cross-border payment challenges remain a major constraint for global commerce, particularly in regions where access to reliable financial infrastructure is still developing. The company said the stablecoin expansion is part of a broader strategy to enhance financial inclusion and support digital trade growth.

The rollout spans multiple regions including Africa, Europe, Asia-Pacific, Latin America, the Middle East and North America, positioning PYUSD as a more widely accessible digital asset within regulated markets.

Industry analysts say the expansion could accelerate stablecoin adoption in emerging economies, where businesses and consumers continue to seek faster, cheaper and more stable alternatives to traditional cross-border payment systems and volatile local currencies.

The move further strengthens PayPal’s position in the global digital payments ecosystem as major fintech firms increase investment in blockchain-enabled financial products aimed at reshaping international money transfers and digital commerce.

FG Approves Payments To 1,240 Contractors, Clears Over N700 Billion In Verified Claims

The Federal Government has approved payments to more than 1,240 contractors across ministries, departments and agencies (MDAs) as part of efforts to settle outstanding obligations, inject liquidity into businesses and accelerate project delivery nationwide.

The latest disbursement follows a comprehensive verification and reconciliation exercise conducted by the Federal Ministry of Finance to validate outstanding claims submitted by contractors working on government projects.

Contractors with verified claims valued at N100 million and below were given priority in the current phase of payments, reflecting the government’s strategy of supporting smaller indigenous firms and enterprises that are often more vulnerable to cash flow constraints.

The move is expected to provide immediate financial relief to businesses operating across different sectors of the economy. Brandspur Banking News Desk reports that the payments will enable many contractors to return to project sites, settle outstanding obligations to suppliers and meet payroll commitments.

According to information released by the ministry, the Federal Government has processed more than N700 billion in verified contractor-related obligations in recent months as part of a broader effort to strengthen confidence in public sector contracting and improve the execution of infrastructure and development projects.

The ministry disclosed that payment activities accelerated significantly in May, with transactions worth approximately N436.6 billion processed within the month. The development underscores ongoing efforts to improve liquidity within the economy and ensure that legitimate government obligations are settled promptly.

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Economic analysts have often highlighted delayed payments to contractors as a major challenge affecting project execution, job creation and business sustainability. Many contractors rely on timely government payments to maintain operations and finance ongoing work.

By prioritising smaller claims, the government aims to spread the economic benefits of the disbursements across a wider range of businesses and regions, ensuring that more firms can sustain operations and contribute to economic activity.

The payments are also expected to boost confidence among contractors, suppliers and service providers engaged in government projects, particularly at a time when businesses continue to navigate challenging economic conditions.

The issue of outstanding contractor payments has attracted increased public attention in recent years, with affected firms repeatedly calling for the settlement of verified debts owed by government institutions.

The latest approvals signal renewed efforts by the Federal Government to address inherited obligations, support business continuity and strengthen relationships with contractors responsible for delivering critical public projects across the country.

As disbursements continue, stakeholders will be watching closely to assess the impact on project completion rates, employment generation and overall economic activity, especially among small and medium-sized enterprises that depend heavily on government contracts for growth and sustainability.

Konga Calls For Wider Adoption Of Payment Technology To Boost Africa’s Trade Growth

Konga has urged businesses and policymakers across Africa to accelerate the adoption of innovative payment technologies, saying efficient financial infrastructure will be critical to unlocking the continent’s trade potential and supporting economic growth.

Chief Executive Officer of Konga, Prince Nnamdi Ekeh, said the future of commerce in Africa will depend not only on improved logistics and physical infrastructure but also on the ability of businesses to move funds quickly, securely and seamlessly across borders.

As more companies expand beyond domestic markets, payment-related challenges such as settlement delays, foreign exchange complexities and high transaction costs continue to limit trade opportunities across the continent.

Industry stakeholders have consistently identified fragmented payment systems as one of the key barriers preventing Africa from fully benefiting from its large consumer market and growing digital economy. Brandspur Brand News reports that businesses and financial institutions are increasingly investing in financial technology solutions aimed at simplifying regional transactions.

Ekeh said emerging payment technologies can help reduce operational bottlenecks, improve transaction efficiency and strengthen confidence among businesses and consumers participating in cross-border commerce.

His comments come as African economies continue to deepen regional trade integration through the African Continental Free Trade Area (AfCFTA), creating demand for payment systems capable of supporting faster and more transparent transactions between countries.

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Africa’s digital economy has expanded rapidly in recent years, driven by increased internet access, smartphone adoption and fintech innovation. The trend has enabled businesses to reach customers beyond traditional markets and create new commercial opportunities.

Despite the progress, experts say challenges including inconsistent payment standards, currency volatility and varying regulatory requirements continue to complicate trade and financial transactions across the continent.

The push for advanced payment solutions is gaining momentum as governments, regulators and private-sector operators seek practical ways to strengthen intra-African trade and improve economic competitiveness.

Financial technology firms are increasingly developing products designed to lower transaction costs, accelerate settlement times and improve transparency for businesses operating across multiple markets.

Analysts believe addressing payment inefficiencies could significantly increase trade volumes across Africa, particularly as more businesses leverage digital platforms to serve customers beyond their national borders.

With regional economic integration gathering pace, industry leaders expect innovative payment technologies to play a central role in shaping the future of African commerce and supporting sustainable growth across the continent.

Sokoto Tops Nigeria’s Multidimensional Poverty Ranking As Bayelsa, Gombe Follow In Latest NBS Data

Sokoto State has emerged as the state with the highest multidimensional poverty rate in Nigeria, according to data released by the National Bureau of Statistics (NBS), highlighting persistent challenges in living standards, education, healthcare access, and economic opportunities across several parts of the country.

The latest Multidimensional Poverty Index (MPI) places Sokoto at the top of the ranking with a poverty incidence of 90.5 per cent, indicating that a significant majority of residents experience multiple forms of deprivation beyond income poverty. Bayelsa followed closely with 88.5 per cent, while Gombe recorded 86.2 per cent to rank third among the most affected states.

The NBS data further showed that Jigawa and Plateau occupied fourth and fifth positions with multidimensional poverty rates of 84.3 per cent and 84.0 per cent respectively. Yobe, Kebbi, Taraba, Ebonyi and Zamfara also featured among the ten states with the highest poverty burdens nationwide.

Multidimensional poverty measures deprivation across several critical indicators, including access to healthcare, quality education, sanitation, housing conditions, security, employment opportunities and living standards. Brandspur Politics reports that the index provides a broader assessment of wellbeing than conventional income-based poverty measurements.

The ranking underscores the scale of socio-economic challenges confronting several states despite ongoing government interventions aimed at reducing poverty and improving access to basic services. Analysts note that multidimensional poverty often reflects long-standing deficits in infrastructure, human capital development and social protection systems.

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Northern states accounted for the majority of locations on the list, reflecting regional disparities that have remained a concern for policymakers and development institutions. However, the inclusion of Bayelsa and Ebonyi also highlights that multidimensional poverty is not limited to one geographical region and remains a national development challenge.

Development experts have repeatedly stressed that tackling multidimensional poverty requires coordinated investments in education, healthcare, agricultural productivity, job creation and rural infrastructure. They argue that sustainable poverty reduction depends on addressing the underlying factors that limit opportunities and quality of life for vulnerable populations.

The latest figures are expected to inform policy discussions at both federal and state levels as governments seek more targeted approaches to improving living conditions and reducing deprivation across communities.

According to the NBS ranking, the ten states with the highest multidimensional poverty rates are Sokoto, Bayelsa, Gombe, Jigawa, Plateau, Yobe, Kebbi, Taraba, Ebonyi and Zamfara. The data serves as a reminder of the urgent need for inclusive economic growth and stronger social development programmes capable of reaching populations most affected by poverty.

As Nigeria continues efforts to strengthen economic resilience and improve social outcomes, the multidimensional poverty index remains a critical tool for measuring progress and identifying areas requiring immediate policy attention.

SpaceX IPO 2026: How Nigerian Investors Can Access One Of The World’s Most Anticipated Stock Listings

Nigerian investors are increasingly turning their attention to global financial markets as anticipation builds around the expected public listing of SpaceX, a move widely regarded as one of the biggest potential stock market events of 2026.

The anticipated offering has generated significant interest among investors seeking exposure to high-growth technology and innovation-driven companies. Alongside other closely watched firms in artificial intelligence and financial technology, SpaceX is expected to attract substantial global demand if it proceeds with a public listing.

Accessing such opportunities, however, presents unique challenges for Nigerian investors, particularly due to foreign exchange constraints, international brokerage requirements, and regulatory considerations surrounding overseas investments.

As interest in foreign equities continues to rise, Brandspur Banking News Desk understands that digital investment platforms have played a growing role in connecting Nigerian investors with international markets, making it easier to purchase foreign-listed securities directly from Nigeria.

Financial analysts identify three primary routes through which Nigerians can gain exposure to major United States public offerings. The most accessible option involves purchasing shares after a company begins trading publicly on recognised exchanges such as the Nasdaq or New York Stock Exchange. This route requires investors to open accounts with approved investment platforms that provide access to international stocks.

Another option allows investors to participate during the initial public offering process itself. Under this arrangement, investors may indicate interest in purchasing shares before public trading begins. However, allocations are often limited and institutional investors typically receive priority access, reducing the likelihood of substantial allocations for retail participants.

A third pathway exists through pre-public market investments, where qualified investors acquire stakes in companies before they become publicly traded. This route is generally reserved for accredited and high-net-worth investors because of high capital requirements, regulatory obligations, and restricted access to private market transactions.

Market experts caution that participation in high-profile technology listings carries both opportunities and risks. While successful listings can deliver strong returns, newly listed companies often experience sharp price movements as investors assess valuation levels, growth prospects, and broader market conditions.

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Currency fluctuations remain another important consideration for Nigerian investors. Returns from foreign investments may be influenced by movements in the naira-dollar exchange rate, alongside transaction fees and regulatory requirements associated with international fund transfers.

Tax obligations also require careful attention. Investors are advised to maintain proper records of foreign investments and seek professional guidance on applicable tax responsibilities in both Nigeria and the foreign jurisdictions where investments are held.

Investment professionals further recommend diversification rather than concentrating capital in a single company, regardless of market excitement surrounding a potential listing. Maintaining a balanced portfolio across different sectors and asset classes can help reduce exposure to market volatility.

As global technology firms continue attracting investor attention, analysts believe Nigerian participation in international capital markets will continue to expand, supported by financial technology innovations and growing awareness of cross-border investment opportunities.

With major listings potentially approaching, financial experts advise prospective investors to focus on long-term wealth creation strategies, conduct thorough research, and ensure that any investment decisions align with their individual financial goals and risk tolerance.

Union Bank Backs Nigerian Teachers As Maltina Teacher Of The Year Competition Marks 12th Edition

Lagos, Nigeria – June, 2026

Union Bank of Nigeria has reaffirmed its commitment to Nigerian teachers and the wider education sector at the flag off of the 12th edition of the Maltina Teacher of the Year Competition (MTOTY), held today in Lagos.

Now in its third consecutive year as a partner, the Bank joined organisers Nigerian Breweries Plc and the Felix Ohiwerei Education Trust Fund, alongside educators and sector stakeholders, for a panel session on how educational support can enhance learning outcomes for teachers and students.

Speaking on behalf of Union Bank, Chief Brand and Marketing Officer, Olufunmilola Aluko, positioned education as central to the Bank’s purpose rather than a peripheral cause.

“At Union Bank, we believe education is not a social obligation. It is a strategic investment,” she said. “A nation that does not invest in its teachers and its learners is borrowing from its own future, and we are in the business of building futures, not mortgaging them.”

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She pointed to Edu360, the Bank’s flagship education initiative under the UnionCares platform, as the practical expression of that conviction. Edu360 spans the full education value chain, from widening access for children in underserved communities and investing in the teachers who multiply learning outcomes, to building digital literacy and STEM capability, and preparing young people for employment or enterprise.

On the role of the financial sector, Aluko challenged her peers to think differently. “Financial institutions need to stop thinking of ourselves as donors and start thinking of ourselves as ecosystem builders,” she said. “We can embed financial literacy into school curricula, design products that help parents save for their children’s education, and convene policymakers, educators and the private sector around shared goals. Above all, we can show up consistently, not only when it suits our brand calendars.”

She noted that lasting change requires sustained collaboration between the public and private sectors, and pointed to the strength of the signal sent when institutions commit to teachers at scale, citing the competition’s ₦100 million grand prize. With twelve editions and more than three hundred teachers recognised to date, she described MTOTY as a model of the consistency Union Bank embodies through Edu360.

Her closing message was directed at educators across the country. “To every teacher in this country, what you do is not small,” she said. “Your story deserves to be told, and Nigeria needs to know your name.”

Union Bank’s participation aligns with United Nations Sustainable Development Goal 4 on inclusive and equitable quality education, and reflects the Bank’s broader commitment to social impact and sustainable development across the communities it serves.