In a significant development for Nigeria’s financial landscape, the Minister of Communications, Innovation, and Digital Economy, Bosun Tijani, unveiled “Kayi Bank” on Thursday, September 28. This pioneering online payment app, founded by Kano-based businessman Alhaji Saadina Dantata, has garnered investments from across Nigeria, the United Arab Emirates (UAE), Saudi Arabia, Turkey, and more. The primary mission of Kayi Bank is to revolutionize financial inclusion and enhance accessibility to financial resources for the unbanked population in Nigeria.
At the launch event held at the prestigious Niger/Plateau Hall of the Transcorp Hotel in Abuja, numerous dignitaries from various sectors were in attendance. This underscores the profound impact that Kayi Bank is expected to have on the financial landscape of Nigeria.
A Vision for Financial Inclusion
Founder Alhaji Saadina Dantata emphasized that Kayi Bank places a strong emphasis on security, speed, and customer satisfaction. This fintech solution offers seamless transactions, catering to both traditional and cryptocurrency users. The core mission of Kayi Bank is to serve not only the unbanked but also the diaspora community and urban professionals.
One of the key technological underpinnings of Kayi Bank is Web3 technology, which ensures stability and speed. This places Kayi Bank at the forefront of technology-driven payment platforms, not only in Africa but on the global stage.
Changing the Face of Financial Transactions
Dantata expressed his enthusiasm about introducing the Kayi App to the Nigerian market, highlighting its potential to simplify financial transactions, accelerate processes, enhance security, and improve overall convenience for users.
Government Endorsement for Financial Inclusion
Minister Bosun Tijani lauded the launch of Kayi Bank and its payment platforms, as they align perfectly with the government’s commitment to promoting financial inclusion, creating jobs, and fostering wealth generation through technological innovation.
The Minister specifically commended Kayi Bank for its role in supporting Keke Napep and Taxi drivers, facilitating fuel purchases at designated filling stations with deferred payments. This innovative approach aims to cushion the impact of subsidy removal in the transport sector.
A Bright Future for Fintech in Africa
Abdulganiyu Rufa’i, Kayi Bank Product Lead, highlighted the immense potential within the African fintech market. With a substantial portion of the population currently unbanked or underbanked, Kayi App is well-positioned to address these unmet needs. The platform aims to provide digital financial services, including instant payments, financial inclusion in rural areas, blockchain-backed cross-border trade, and seamless remittances and investment opportunities for Nigerians and Africans in the diaspora.
In conclusion, the launch of Kayi Bank and its innovative payment app represents a significant milestone for Nigeria and the broader African fintech ecosystem. With a steadfast commitment to inclusivity, accessibility, and cutting-edge technology, Kayi Bank is set to redefine how financial services are accessed and utilized across the nation, propelling Nigeria further into the digital age.
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