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🏦Paystack Enters Nigeria with MFB Acquisition

🏦Paystack Enters Nigeria with MFB Acquisition

Plus: ⛴️Lagos to Launch Electric Boats for Commuters

Innovation Village
January 15, 2026

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Good Morning Valued Subscribers👋

Breaking into a market isn’t just about opening an office or launching an app, it’s about making a statement. Paystack’s entry into Nigeria via the acquisition of a microfinance bank isn’t your usual expansion play; it’s a signal that the company is serious about embedding itself deeper into the country’s financial ecosystem.

This move goes beyond payment processing, it’s about access, influence, and building a foundation that can support everything from everyday transactions to larger-scale financial innovation. For businesses, entrepreneurs, and everyday users, it marks the start of a new chapter in how fintech players are thinking locally while acting globally. As the dust settles on the acquisition, one thing is clear: Paystack isn’t just entering Nigeria—it’s staking a claim in the country’s future of digital finance.

Let’s dive in👇

Today’s Menu ☕️

🏦Paystack Enters Nigeria with MFB Acquisition
⛴️Lagos to Launch Electric Boats for Commuters
🪙Nigeria Imposes Crypto Tax IDs on $92B Market
⚖️ Uganda Shuts Down Internet Ahead of Presidential Vote
🩺WHO Urges Global Tax Hikes on Sugar and Alcohol
💵Inside Capital Partners closes second fund at $72.2 million

🏦BANKING

Paystack Enters Nigeria with MFB Acquisition

Paystack has acquired Ladder Microfinance Bank, giving it a regulated licence to launch Paystack Microfinance Bank and expand beyond payments into lending and banking-as-a-service (BaaS) in Nigeria. The move allows Paystack to hold deposits, offer SME-focused credit, and provide embedded banking infrastructure to other startups. Leveraging its deep visibility into merchant payment flows, Paystack plans to underwrite loans using real-time transaction data, positioning itself as a full-stack financial platform rather than just a payments processor................….continue reading

⛴️TRANSPORTATION

Lagos State to Launch Electric Boats for Commuters

The Lagos State Government plans to introduce electric-powered boats to the LAGFERRY fleet this year to provide cleaner, cheaper, and more sustainable public transportation. Rising fuel costs and traffic congestion have pushed more commuters to waterways, with LAGFERRY carrying 4.4 million passengers since 2020. Electric boats will reduce operating costs, lower fares, and support Lagos’s broader multi-modal transport strategy, complementing initiatives like the Blue Line Rail while promoting greener urban mobility...............….continue reading

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🪙CRYPTOCURRENCY

Nigeria Imposes Crypto Tax IDs on $92B Market

Nigeria has introduced mandatory Tax Identification Numbers (TIN) and National Identification Numbers (NIN) for all cryptocurrency transactions under the NTAA 2025, effectively bringing the $92 billion crypto market under government oversight. Virtual Asset Service Providers (VASPs) like Binance, Quidax, and Yellow Card must collect and store user data for seven years and report large or suspicious transactions to the Nigerian Financial Intelligence Unit. Crypto gains are now taxable, aligning Nigeria with global............….continue reading

⚖️GOVERNMENT

Uganda Shuts Down Internet Ahead of Presidential Vote

Uganda has imposed a nationwide internet blackout ahead of its presidential election, set for January 15, 2026. The Uganda Communications Commission ordered telecoms to suspend mobile data, broadband, fibre, and satellite internet, citing national security and the need to curb misinformation and electoral fraud. Voice calls and SMS remain active, but most online services—including mobile money, banking, and social media—are disrupted. Opposition leader Bobi Wine and civil society groups condemned the shutdown, warning it hampers election monitoring and transparency. The move mirrors a pattern in East Africa, where internet shutdowns have become common during high-stakes elections...........….continue reading

🩺HEALTH

WHO Urges Global Tax Hikes on Sugar and Alcohol

The World Health Organization (WHO) is urging governments to increase taxes on sugary drinks and alcohol globally, citing major health risks—2.6 million annual deaths from alcohol and rising obesity and diabetes from sugary drinks. The WHO’s “3 by 35” Initiative aims to raise real prices of tobacco, alcohol, and sugary drinks by 50% by 2035 to curb consumption and cover healthcare costs. Current taxes, including Nigeria’s N10 sugar tax, are considered too low to be effective. Health advocates support steep increases, while industry groups warn of job losses. The move combines public health goals with potential new revenue for governments..................….continue reading