Checker Secures $8 Million Funding To Expand Stablecoin Payment Infrastructure Across Africa

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Checker Secures $8 Million Funding To Expand Stablecoin Payment Infrastructure Across Africa

Global digital asset infrastructure company Checker has raised $8 million in fresh funding to accelerate the growth of stablecoin-powered financial services across Africa and other emerging markets, as investors increase interest in cross-border digital payment solutions.

The investment round attracted support from major global and African investors, including Al Mada Ventures, Galaxy Ventures and Framework Ventures, alongside prominent technology ecosystem players such as Iyin Aboyeji and other fintech executives with deep experience in digital payments and financial innovation.

Checker said the new capital will be used to strengthen its infrastructure network, expand global payment connectivity and improve access to stablecoin liquidity for banks, remittance operators, neobanks and cross-border businesses operating across African markets.

Brandspur Finance News Desk reports that the company is positioning itself as a major infrastructure provider for stablecoin settlement systems by offering financial institutions a unified API that connects them to global payment rails, treasury management services and digital asset liquidity networks.

The company noted that African businesses continue to face challenges linked to fragmented payment systems, expensive correspondent banking relationships and foreign exchange volatility, creating delays and higher costs for international transactions. Checker believes stablecoin-powered infrastructure can significantly reduce settlement timelines while improving efficiency for businesses operating across trade corridors between Africa, China and the United States.

Also read: https://brandspurng.com/2026/05/21/nigeria-tax-revenue-reaches-n7-44-trillion-in-q1-2026-falls-short-of-budget-target-amid-reforms/

Company executives said the latest funding also reflects growing institutional confidence in Africa’s digital asset ecosystem as regulators across several African markets gradually introduce clearer frameworks for virtual asset operations and fintech innovation.

Checker disclosed that it currently operates across multiple African markets, including Nigeria, Kenya, Tanzania and Francophone West Africa, while processing billions of dollars in transaction volume through its expanding network. The company added that future plans include the rollout of embedded lending and borrowing solutions aimed at improving liquidity access and reducing pre-funding requirements for financial institutions using stablecoin settlement systems.

Industry analysts believe the investment highlights increasing global attention on Africa’s fintech and digital payments sector as stablecoins continue to gain relevance in international trade, remittances and cross-border commerce.

Nigeria Tax Revenue Reaches N7.44 Trillion In Q1 2026, Falls Short Of Budget Target Amid Reforms

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Nigeria Tax Revenue Reaches N7.44 Trillion In Q1 2026, Falls Short Of Budget Target Amid Reforms

Nigeria recorded a total tax revenue collection of N7.44 trillion in the first quarter of 2026, but still fell short of its projected target by N2.24 trillion despite ongoing reforms under the country’s new tax framework. The figure represents 76.87% performance against a prorated target of N9.68 trillion for the period January to March 2026.

Data obtained from the Nigeria Revenue Service (NRS) and presented at the Federation Account Allocation Committee (FAAC) meetings showed that the performance marks a shift from the same period in 2025, when the revenue agency exceeded its target. Total collections also reflect a year-on-year increase of N1.40 trillion, or 23.2%, compared to N6.04 trillion recorded in Q1 2025.

Brandspur Banking News Desk reports that Companies Income Tax, Capital Gains Tax, and Stamp Duties emerged as major pressure points during the quarter, generating N3.75 trillion against a target of N5.05 trillion, leaving a shortfall of N1.30 trillion. Petroleum royalties also underperformed significantly, collecting N1.12 trillion compared to a N2.03 trillion target.

Oil-related tax inflows showed stronger performance in contrast, with Petroleum Profits Tax and Hydrocarbon Tax rising to N1.62 trillion, exceeding projections by N318.23 billion and achieving a 124.42% performance rate. However, gains from oil taxation were not enough to offset weaknesses in non-oil revenue categories.

Also read: https://brandspurng.com/2026/05/21/enugu-air-launches-direct-kano-enugu-lagos-and-abuja-routes-to-boost-domestic-connectivity/

Value Added Tax (VAT) remained relatively stable, generating N2.42 trillion against a target of N2.49 trillion, reflecting a marginal shortfall. Meanwhile, upstream Companies Income Tax contributed N349.95 billion, falling below expectations, while mineral royalties recorded zero inflows despite budgetary projections.

For March 2026 alone, total tax revenue stood at N2.31 trillion, below the monthly target of N3.23 trillion, although this represented a slight increase compared to February collections. Oil taxes in March marginally exceeded expectations, while non-oil tax categories recorded weaker performance due to lower remittances and reduced economic activity in VATable sectors.

The Nigeria Revenue Service has projected a full-year revenue target of N40.7 trillion for 2026, driven by expanded tax reforms and improved compliance measures. This marks a significant increase from the N28.23 trillion collected in 2025, as authorities continue efforts to strengthen fiscal sustainability and widen the tax base.

Enugu Air Launches Direct Kano, Enugu, Lagos And Abuja Routes To Boost Domestic Connectivity

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Enugu Air Launches Direct Kano, Enugu, Lagos And Abuja Routes To Boost Domestic Connectivity

Enugu Air has expanded its domestic flight network with the introduction of new direct routes linking Kano with Enugu, Lagos, and Abuja, marking a major shift in Nigeria’s regional air travel connectivity. The development removes the need for passengers to transit through multiple cities, significantly reducing travel time between key commercial hubs in the country.

The new flight operations, which officially commence on May 21, 2026, establish a non-stop connection between Mallam Aminu Kano International Airport and Akanu Ibiam International Airport, alongside additional links to Nnamdi Azikiwe International Airport in Abuja and Murtala Muhammed International Airport in Lagos. The expansion positions the carrier as a key player in improving north-south mobility within Nigeria’s aviation sector.

Brandspur Brand News reports that the initiative is backed by the Enugu State Government as part of a broader transportation and economic development strategy aimed at strengthening inter-state trade and improving logistics efficiency. The airline operates under a commercial arrangement with XEJet Airlines, which provides technical and operational support through its Air Operator Certificate framework.

Also read: https://brandspurng.com/2026/05/21/cbn-maintains-monetary-policy-rate-at-26-5-after-305th-mpc-meeting-amid-inflation-pressures/

The fleet deployed for these routes includes Embraer E170, E190, and newly introduced E195 aircraft, selected for their efficiency and suitability for short-to-medium haul domestic operations. Industry observers note that the network expansion is designed to improve passenger comfort while maintaining operational cost efficiency across regional routes.

Akanu Ibiam International Airport in Enugu and Mallam Aminu Kano International Airport now serve as direct endpoints of a previously underserved route, eliminating long layovers that were once required via Lagos or Abuja. The development is expected to stimulate business travel, agricultural trade, and commercial activity between northern and southeastern Nigeria.

Market analysts say the move also introduces increased competition within Nigeria’s domestic aviation sector, particularly on routes traditionally dominated by established carriers. The new pricing structure for economy-class tickets reportedly begins at around ₦110,000, reflecting prevailing market conditions for regional air travel.

The expansion is expected to enhance connectivity, support regional economic integration, and strengthen Enugu Air’s position in Nigeria’s rapidly evolving aviation landscape.

CBN Maintains Monetary Policy Rate At 26.5% After 305th MPC Meeting Amid Inflation Pressures

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CBN Maintains Monetary Policy Rate At 26.5% After 305th MPC Meeting Amid Inflation Pressures

The Central Bank of Nigeria (CBN) has kept its benchmark Monetary Policy Rate (MPR) unchanged at 26.5% following the conclusion of its 305th Monetary Policy Committee (MPC) meeting held in Abuja. The decision reflects continued caution by policymakers as they assess inflation trends and broader macroeconomic stability.

CBN Governor Olayemi Cardoso announced the outcome, noting that all committee members in attendance agreed to maintain existing monetary policy parameters. The move signals a steady policy stance after recent adjustments in earlier meetings.

Brandspur Banking News Desk reports that the MPC also retained other key monetary tools, including the Cash Reserve Ratio (CRR), which remains at 45% for commercial banks and 16% for merchant banks, alongside a 75% CRR on non-TSA public sector deposits. The Standing Facilities Corridor was also left unchanged at +50/-450 basis points around the MPR, while the Liquidity Ratio remains at 30%.

Also read: https://brandspurng.com/2026/05/21/lagos-targets-250mw-data-centre-capacity-by-2030-amid-surging-ai-demand/

The committee said its decision was driven by persistent inflationary pressures and the need to preserve macroeconomic stability. Recent data showing successive increases in inflation for March and April 2026 further reinforced the cautious approach adopted by policymakers.

Nigeria’s headline inflation rose to 15.69% in April 2026, up from 15.38% in March 2026, underscoring ongoing price pressures in the economy despite earlier signs of moderation. The MPC had previously cut the MPR by 50 basis points in February 2026, marking the first rate reduction after a prolonged tightening cycle.

Analysts had widely expected the decision to hold rates, citing inflation risks, exchange rate instability, and global economic uncertainty, including rising crude oil prices and geopolitical tensions. These factors continue to influence the CBN’s balancing act between controlling inflation and supporting economic recovery.

The Monetary Policy Rate remains a key tool used by the CBN to regulate lending conditions, liquidity levels, and overall economic stability. While higher interest rates help curb inflation, they also increase borrowing costs for businesses and households, a concern repeatedly raised by private sector operators.

Lagos Targets 250MW Data Centre Capacity By 2030 Amid Surging AI Demand

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Lagos Targets 250MW Data Centre Capacity By 2030 Amid Surging AI Demand

Lagos State is accelerating plans to expand its digital infrastructure, setting a target of more than 250 megawatts (MW) of data centre capacity by 2030 as artificial intelligence and cloud computing demand continues to rise across Africa’s largest economy. The state currently accounts for a dominant share of Nigeria’s commercial data centre footprint, estimated at nearly three-quarters of total installed capacity.

Officials say the expansion pipeline already includes about 146MW of additional planned capacity, positioning the city for rapid scale-up over the next five years. The strategy aligns with growing pressure from AI workloads, enterprise cloud adoption, and increasing demand for local data storage within the country’s expanding digital economy.

Brandspur Banking News Desk reports that the announcement was made during the unveiling of the Kasi Cloud LOS1 facility in Lekki, a development that signals a shift toward high-performance computing infrastructure in the region. The Lagos State government described the initiative as part of its broader ambition to transform the city into a leading digital infrastructure hub rather than only a startup ecosystem.

The Kasi Cloud LOS1 facility is designed as a hyperscale campus with a projected 40MW capacity, starting operations with an initial 7.2MW IT load. The infrastructure includes advanced GPU systems powered by Nvidia H100 and H200 processors, alongside liquid cooling technology built to support intensive AI and machine learning workloads.

Also read: https://brandspurng.com/2026/05/21/federal-government-opens-applications-for-afcfta-startup-acceleration-programme-2026/

Nigeria’s startup ecosystem, valued at over $15 billion, continues to drive demand for scalable cloud services. Research from Arizton Advisory & Intelligence projects that Nigeria could become Africa’s fastest-growing data centre investment market, with annual investments expected to reach nearly $770 million by 2031.

Industry stakeholders also highlighted rising local demand for cloud infrastructure, with enterprises reportedly spending about $850 million annually on foreign cloud services. The new push aims to retain more of that spending domestically while strengthening national compute capacity for AI development.

The Nigeria Sovereign Investment Authority (NSIA) has also backed the Kasi Cloud project with an $8 million convertible loan investment, signalling growing institutional confidence in the sector.

However, operators continue to face significant structural challenges, including a 64.1% surge in energy costs since early 2026, unstable national power supply fluctuating between 3,000MW and 4,000MW, foreign exchange volatility, and high cooling energy requirements that can consume up to 40% of operational costs. Despite these constraints, officials maintain that Lagos is steadily positioning itself as a continental leader in digital infrastructure and AI readiness.

Federal Government Opens Applications For AfCFTA Startup Acceleration Programme 2026

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Federal Government Opens Applications For AfCFTA Startup Acceleration Programme 2026

The Federal Government has announced the commencement of applications for the AfCFTA Startup Acceleration and Partnership Programme 2026, a continental initiative designed to support African startups and strengthen trade collaboration between Africa and South Korea.

The programme, coordinated by the African Continental Free Trade Area Secretariat in partnership with the Republic of Korea and the Korea-Africa Foundation, is targeted at innovative businesses operating in key sectors including fintech, digital commerce, logistics, manufacturing and agricultural value chains. Nigerian startups with scalable business models have been encouraged to apply before the May 31, 2026 deadline.

Successful applicants will receive access to business acceleration support, mentorship programmes, investment connections, market expansion opportunities and enterprise development training designed to improve cross-border trade competitiveness and innovation capacity across Africa.

Also read: https://brandspurng.com/2026/05/21/fake-anti-malaria-drug-alert-raises-concerns-over-counterfeit-medicines-in-nigeria/

Brandspur Business News Desk reports that about 30 startups from across the continent are expected to be selected for the programme as part of efforts to deepen economic integration and private-sector collaboration under the AfCFTA framework. The initiative is also expected to strengthen commercial partnerships between African entrepreneurs and Korean investors while promoting sustainable economic growth.

The Ministry of Foreign Affairs said the programme aligns with Nigeria’s broader economic agenda focused on youth empowerment, innovation-driven entrepreneurship and increased participation in continental trade opportunities. Officials noted that the initiative would provide Nigerian startups with greater exposure to international markets and strategic business networks.

Interested applicants have been advised to visit the official AfCFTA portal for eligibility requirements, application procedures and additional programme guidelines. The Ministry also urged entrepreneurs to take advantage of the initiative to position their businesses for emerging opportunities within Africa’s expanding single market economy.

Fake Anti-Malaria Drug Alert Raises Concerns Over Counterfeit Medicines In Nigeria

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Fake Anti-Malaria Drug Alert Raises Concerns Over Counterfeit Medicines In Nigeria

Fresh concerns have emerged over the circulation of suspected counterfeit anti-malaria medication in parts of Nigeria following viral warnings shared across social media platforms about fake versions of the popular Lonart-DS malaria drug allegedly being sold in pharmacies and medicine stores.

The alert, accompanied by comparison images of two different blister packs, claims that the original medication comes in a yellow blister pack, while the suspected counterfeit version is packaged in a white blister card. The message has triggered widespread reactions among consumers worried about the growing threat of fake pharmaceutical products within the country’s healthcare market.

Brandspur Health News gathered that public health advocates are urging Nigerians to remain cautious when purchasing anti-malaria drugs and other medications, especially from unverified outlets. Consumers have also been advised to inspect drug packaging carefully, check for NAFDAC registration details, verify scratch codes where available, and purchase medicines only from licensed pharmacies and accredited medical stores.

Also read: https://brandspurng.com/2026/05/21/mtn-nigeria-backs-emerging-filmmakers-with-n5-million-prize-at-12th-amvca-awards/

Healthcare professionals warn that counterfeit anti-malaria drugs pose serious risks to patients, including treatment failure, worsening infections and the potential development of drug-resistant malaria strains. Medical experts note that fake medicines often contain incorrect dosages, harmful substances or inactive ingredients that may endanger public health.

Although regulatory authorities are yet to officially confirm the authenticity of the viral claims surrounding the product comparison, stakeholders within Nigeria’s pharmaceutical sector say the circulation of counterfeit drugs remains a major concern requiring stronger enforcement, improved consumer awareness and tighter supply chain monitoring.

The latest warning comes amid ongoing efforts by health regulators and pharmaceutical agencies to combat fake and substandard medicines across Nigeria’s healthcare system, particularly within the anti-malaria market where demand for treatment remains consistently high due to the country’s malaria burden.

MTN Nigeria Backs Emerging Filmmakers With N5 Million Prize At 12th AMVCA Awards

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MTN Nigeria Backs Emerging Filmmakers With N5 Million Prize At 12th AMVCA Awards

MTN Nigeria strengthened its support for Africa’s fast-growing creative industry at the 12th Africa Magic Viewers’ Choice Awards (AMVCA), where the telecommunications company rewarded emerging filmmakers and celebrated outstanding storytelling talent across the continent. The awards ceremony, held at Eko Hotels and Suites in Lagos, gathered leading actors, producers, directors and entertainment industry stakeholders for one of Africa’s biggest film and television events.

As part of its sponsorship activities at the AMVCA, MTN Nigeria supported the Best Short Film category, a segment dedicated to recognising rising filmmakers shaping the future of African cinema. The winning short film, Hussaini, produced by Orire Nwani and Josh Olaoluwa, secured the prestigious award alongside a N5 million cash prize sponsored by the telecom giant.

Brandspur Brand News reports that MTN Nigeria used the platform to reaffirm its long-term commitment to youth empowerment, creative development and talent discovery within Nigeria’s entertainment ecosystem. Company executives said the initiative aligns with MTN’s broader objective of supporting young Nigerians using storytelling, film and digital creativity to drive cultural influence and economic growth across Africa.

Also read: https://brandspurng.com/2026/05/21/lg-moodup-refrigerator-redefines-smart-kitchen-living-with-customisable-design-and-entertainment-features/

Speaking during the presentation ceremony, MTN Nigeria’s Chief Marketing Officer, Onyinye Ikenna-Emeka, noted that the company remains focused on creating opportunities for talented young creatives to thrive within the entertainment sector. She explained that supporting platforms such as the AMVCA enables emerging filmmakers gain visibility, recognition and resources needed to compete on a larger global stage.

The filmmakers behind Hussaini described the recognition as a major career milestone after several previous nominations in the category, adding that the victory would inspire them to pursue bigger projects within the African film industry. Industry stakeholders at the event also praised the increasing role of corporate organisations in strengthening the continent’s creative economy through sponsorships, partnerships and talent development initiatives.

Beyond the awards night itself, MTN Nigeria also participated in other AMVCA-related programmes including the Young Filmmakers Day and the #MTNFilmChallenge, both designed to nurture fresh storytelling talent and encourage more young Africans to explore opportunities within film production, digital media and content creation.

The company’s continued investment in creative initiatives reflects the expanding commercial value of Africa’s entertainment industry, particularly as Nigerian films, music and digital content continue gaining international recognition and attracting global audiences.

LG MoodUP Refrigerator Redefines Smart Kitchen Living With Customisable Design And Entertainment Features

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LG MoodUP Refrigerator Redefines Smart Kitchen Living With Customisable Design And Entertainment Features

LG Electronics has unveiled the LG MoodUP Refrigerator, a next-generation smart appliance designed to combine advanced cooling technology with lifestyle-focused innovation, as demand rises for connected and personalised home experiences. The refrigerator introduces customisable LED door panels, built-in entertainment features and smart connectivity aimed at transforming the modern kitchen into a more interactive and expressive living space.

The new appliance reflects changing consumer preferences among homeowners seeking products that deliver both functionality and aesthetic value. Unlike conventional refrigerators focused mainly on food storage, the LG MoodUP Refrigerator allows users to personalise the appearance of the appliance through colour-changing LED panels controlled via the LG ThinQ mobile application. Users can switch between multiple colour themes to suit their mood, interior décor or social occasions, positioning the refrigerator as both a utility product and a design statement within contemporary homes.

Brandspur Brand News gathered that the appliance also integrates a built-in Bluetooth speaker system, enabling users stream music, podcasts and other audio content directly from their smartphones while carrying out kitchen activities. Industry analysts say the innovation aligns with the growing smart home trend, where appliances are increasingly expected to support entertainment, connectivity and personalised user experiences alongside core performance functions.

Also read: https://brandspurng.com/2026/05/21/google-ai-studio-launches-native-android-app-creation-tool-to-simplify-coding/

LG said the MoodUP Refrigerator was developed to meet the lifestyle demands of digitally connected consumers who value convenience, smart control and premium home aesthetics. Through the LG ThinQ platform, users can manage lighting settings, customise display colours and access additional smart features remotely from their mobile devices, reinforcing the company’s broader strategy around connected living solutions.

Beyond its entertainment and visual capabilities, the refrigerator maintains LG’s established reputation for reliable cooling performance, energy efficiency and durable appliance engineering. The product is expected to appeal strongly to young professionals, technology-driven households and design-conscious consumers seeking to modernise kitchen spaces without extensive renovations.

The launch further strengthens LG’s position in the competitive smart appliance market, as global technology brands continue expanding beyond traditional home electronics into intelligent lifestyle ecosystems. Analysts believe products such as the MoodUP Refrigerator reflect how home appliances are evolving into personalised digital experiences that combine practicality, entertainment and self-expression within everyday living environments.

Google AI Studio Launches Native Android App Creation Tool To Simplify Coding

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Google AI Studio Launches Native Android App Creation Tool To Simplify Coding

Google has introduced a new native Android app development capability within its web-based Google AI Studio platform, unveiling the innovation during the Google I/O 2026 conference held in Mountain View, California. The latest feature is designed to significantly reduce the time and technical complexity involved in Android app development by enabling users to build functional mobile applications within minutes using Gemini AI tools.

The new development marks a major step in Google’s broader push to democratise software creation and expand access to app development beyond professional engineers. With the integration of AI-powered coding support, users ranging from experienced developers to beginners with no programming background can now prototype Android applications directly from a web browser. The system supports Kotlin programming language and Jetpack Compose, while also enabling integration with device hardware features such as GPS, Bluetooth and NFC technology.

Brandspur Tech News reported that the launch positions Google more aggressively in the fast-growing AI-assisted coding market currently occupied by platforms such as Replit, Cursor, Claude Code and Lovable. Industry observers believe the move could reshape how developers and non-technical creators approach mobile app development, especially as artificial intelligence continues to transform software engineering workflows globally.

Also read: https://brandspurng.com/2026/05/21/wizkid-becomes-first-african-artiste-to-surpass-11-billion-spotify-streams/

Google explained that creators can preview their applications instantly through an embedded Android Emulator running inside the browser before deploying the apps directly to Android devices through a connected USB cable. The company also revealed that developers can package projects, upload them into Google Play Console testing tracks and continue updating applications during the development process without requiring extensive manual configuration.

The technology giant added that the platform currently focuses on personal utility applications, AI-powered tools and lightweight social experiences. Future updates are expected to include Firebase integrations, expanded publishing support and simplified sharing features that will allow creators distribute applications more broadly among friends, family members and wider user communities.

The latest announcement reinforces Google’s growing investment in generative AI tools and highlights the company’s ambition to redefine Android app development by making software creation faster, more accessible and increasingly driven by intelligent automation.

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