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Fidelity Bank PAPSS helps Nigerian Businesses Simplify Cross-border Trade

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For Nigerian businesses looking to expand into other African markets, making and receiving payments across borders can be as important as finding new customers and suppliers.

Fidelity Bank Plc is positioning its access to the Pan-African Payment and Settlement System (PAPSS) as a way for businesses and individuals to make eligible cross-border payments in African currencies without relying on traditional international payment routes.

PAPSS is an African payment infrastructure designed to enable near-instant cross-border transactions between participating countries.

Under the system, an eligible customer in Nigeria can initiate a payment in naira, while the beneficiary receives the equivalent value in the currency applicable to the receiving market.

Why cross-border payments matter

The expansion of intra-African trade has created opportunities for businesses beyond their home markets.

A Nigerian fashion business could source materials from Ghana, while manufacturers, pharmaceutical distributors, technology companies, farmers, traders and commodity aggregators can develop commercial relationships with partners in other African countries.

The African Continental Free Trade Area (AfCFTA) is also intended to support greater economic integration and trade among African countries.

But cross-border transactions can create practical challenges, particularly where businesses have to deal with foreign currency requirements, multiple conversions, intermediary banks and additional charges.

For smaller businesses operating with limited cash flow, delays in settling an invoice can affect supply schedules and day-to-day operations.

How PAPSS works

PAPSS is designed to allow eligible payments between participating African markets to be processed through an African payment network.

For a Nigerian customer, this can reduce the need to first obtain US dollars or euros for eligible transactions with participating African countries.

The system can also reduce the number of currency conversions involved in a transaction and lessen dependence on correspondent banking arrangements outside Africa.

Fidelity Bank says eligible PAPSS transfers through its platform can be completed in about 120 seconds, subject to applicable requirements and the receiving market.

For businesses, faster settlement can help with supplier payments, inventory planning and cash-flow management.

What Fidelity Bank offers

Fidelity Bank says customers can initiate eligible PAPSS transactions through its Fidelity Mobile App, Fidelity Online Banking and its branch network.

Customers who require assistance can also contact their Relationship Managers or visit a branch to obtain guidance on documentation and transaction requirements.

The service is available for eligible commercial and personal transactions, including payments to suppliers, distributors and service providers, as well as approved education and family-support payments.

However, transactions remain subject to applicable regulatory requirements, limits, charges, documentation and the rules governing individual payment corridors.

Fidelity Bank’s PAPSS experience

Fidelity Bank says it onboarded PAPSS in September 2024 and recorded more than N46 billion in transactions during its early adoption phase, ahead of the platform’s official launch in August 2025.

The bank also says PAPSS identified it as one of the first Nigerian banks to meet the relevant integration requirements.

Fidelity Bank has subsequently expanded access through its digital banking channels and branches.

The bank’s combination of digital services and physical branches is intended to give customers options depending on the nature and requirements of their transactions.

Also Read: Ogun Police Urge Students to Reject Cultism, Cybercrime Ahead of 2027 Elections 

What it means for Nigerian businesses

The attraction for businesses is not simply the ability to send money across borders.

More predictable settlement can help companies pay suppliers on time, coordinate deliveries and maintain commercial relationships across African markets.

An importer purchasing products from another African country, for example, may benefit from a payment process that reduces some of the foreign-currency and intermediary-bank complications associated with conventional cross-border transfers.

Exporters and other businesses receiving eligible payments may also benefit from the ability to transact through participating African markets while complying with applicable regulatory and export requirements.

For individuals, PAPSS can similarly provide a formal banking channel for approved transactions such as education-related payments and family support.

Security and compliance

Cross-border payments still require customers to provide accurate information and meet applicable banking and regulatory requirements.

Beneficiary details, the purpose of a transaction and supporting documentation must be correctly provided where required.

Transactions are subject to authentication, compliance checks and other regulatory controls as part of the banking process.

This means PAPSS does not remove the need for businesses to comply with foreign exchange, trade, anti-money-laundering and other relevant regulations.

PAPSS expands Africa’s payment network

The growing use of PAPSS reflects a broader push to make trade within Africa easier to execute.

According to figures cited by TechCabal, PAPSS is live in 19 countries and connects more than 160 commercial banks and 15 national payment switches.

As more financial institutions and payment systems connect to the network, the potential value for businesses seeking customers, suppliers and partners across African markets could increase.

For Nigerian companies, access to efficient payment infrastructure may therefore become an important part of regional expansion.

What businesses should know

PAPSS transactions are not automatically available for every type of payment or every African country.

Customers should confirm that the intended transaction and destination corridor are supported and check the applicable limits, charges, documentation and regulatory requirements before initiating a transfer.

Fidelity Bank says customers can access eligible PAPSS services through its mobile app, online banking platform or branches.

As intra-African commerce develops, payment systems such as PAPSS could help address one of the practical barriers facing businesses that want to trade beyond their domestic markets.

For Nigerian businesses, the ability to make eligible payments in naira while beneficiaries receive the applicable value in their local currencies could make cross-border transactions simpler and more predictable.

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Nigeria’s Businesses Urged to Plan Succession Beyond Founders

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Nigerian entrepreneurs have been urged to plan for leadership transitions, strengthen business systems and invest in long-term value creation to ensure their enterprises survive beyond their founders.

The call was made at the fourth edition of Time Out With Kate, an entrepreneurship conference held under the theme “Building Transgenerational Businesses 4.0”, which focused on business continuity, responsible leadership and wealth creation across generations.

The conference challenged business owners to look beyond immediate profits and consider whether their enterprises have the structures, people and strategies needed to remain viable in the future.

Why many businesses need to think beyond their founders

The ability to establish a profitable business does not automatically guarantee its survival over the long term.

Businesses that depend heavily on their founders may face difficulties when leadership changes, particularly where responsibilities, management processes and succession arrangements have not been clearly established.

Discussions at the conference highlighted the importance of developing employees, creating effective business systems, honouring commitments and preparing for leadership transitions.

These measures can help enterprises preserve institutional knowledge, maintain operations and provide more stable employment as they grow.

Also Read: NCC Chief Urges Staff to Take Ownership of Consumer Complaints 

Seven principles for building lasting businesses

The conference was convened by Catherine Opeyemi Adesomoju, popularly known as Sister Kate, an entrepreneur, author, evangelist and managing director and chief executive of Spectrum Holdings.

Adesomoju, who has participated in executive programmes at Lagos Business School and Harvard Business School, emphasised the need for entrepreneurs to approach ownership as a responsibility that extends beyond possessing assets.

The conference identified seven pillars of ownership as essential to building resilient enterprises: vision, focus, discipline, learning, courage, integrity and value.

The principles point to the importance of setting clear business goals, maintaining consistent standards, adapting to economic changes and creating products and services that meet lasting needs.

For business owners, the emphasis on integrity and value also highlights the need to build trust with employees, customers, suppliers and other stakeholders.

Business succession and the wider economy

Planning for business continuity has implications beyond individual entrepreneurs and their families.

Enterprises that remain operational through leadership changes can help preserve jobs, sustain commercial relationships and retain skills and experience within the economy.

The conference also extended the conversation to employees, government and communities, stressing their shared responsibilities in promoting accountability, economic development and sustainable growth.

However, the press release did not provide data on the number of Nigerian businesses affected by succession challenges or evidence measuring the economic impact of the conference’s recommendations.

From entrepreneurship to institution-building

Since its launch in 2023, Time Out With Kate has provided a platform for entrepreneurship education, mentorship and discussions on purposeful leadership.

The fourth edition was powered by His Presence Foundation, with sponsorship support from itel Energy, Oraimo and Spectrum Innovation Technologies Limited.

Its central message was that building a successful enterprise requires more than generating revenue: business owners must also create structures and develop people capable of sustaining its operations over time.

For entrepreneurs seeking long-term growth, this means treating succession planning, leadership development and institutional stability as part of business strategy rather than issues to address only when a founder is preparing to leave.

The broader challenge is turning these principles into practical action, including documented succession plans, stronger governance structures and systems that allow businesses to function without depending entirely on one individual.

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JMG Backs Lagos Business School Competition to Develop Future Business Leaders

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JMG Limited has sponsored a public-speaking competition organised through Lagos Business School’s MBA Careers and Placement Unit, using the platform to engage students on leadership, communication and career development.

The Beta Gamma Sigma (BGS) Mini-Keynote Speaking Competition was held on 26 September 2026, bringing participants together to present ideas and demonstrate their public-speaking skills.

The partnership reflects growing attention to communication as a professional skill, particularly for emerging business leaders expected to explain ideas, engage stakeholders and make decisions across different industries.

Also Read: NPA Moves to Address Rail, Logistics Gaps at Inland Dry Ports

Why communication matters in business leadership

JMG, which operates across power generation, heating, ventilation and air conditioning (HVAC), climate solutions, solar energy and haulage, said its support for the competition was part of its commitment to leadership development and talent engagement.

The company used the event to introduce participants to its business operations and explain how its services support businesses, industries and infrastructure in Nigeria.

Rabi Jammal, JMG’s chief commercial officer, said the partnership was intended to help emerging professionals develop their confidence and communication abilities.

“At JMG, we believe that sustainable growth is ultimately about people. Businesses need talented individuals who can think, communicate and lead effectively,” Jammal said.

He added that the partnership offered the company an opportunity to support an institution developing future leaders while creating opportunities for young professionals to strengthen their voices and confidence.

Lagos Business School provides platform for emerging talent

Lagos Business School is known for its business and management education programmes, which focus on leadership, professional development and business practice.

Through the BGS Mini-Keynote Speaking Competition, participants had an opportunity to present ideas before an audience and demonstrate their ability to communicate clearly and think critically.

The event also provided a platform for interaction between students and a company operating in several sectors of the Nigerian economy.

For participants preparing to enter or advance in the workplace, these skills can be relevant to presentations, negotiations, team management and engagement with clients and business partners.

However, the information provided about the competition did not include the number of participants, the names of winners or details of any prizes, internships or employment opportunities arising from the event.

Beyond sponsorship: What the partnership could mean

JMG said its engagement with Lagos Business School forms part of its broader commitment to professional development and building relationships with the communities it serves.

The partnership also offers a route for the company to introduce its operations to emerging professionals who may become future employees, entrepreneurs or business partners.

Its longer-term impact will depend on whether engagements of this kind lead to sustained learning opportunities, mentorship, internships or other forms of professional support.

Neither the company’s announcement nor the details supplied for this report specified whether the partnership includes further activities beyond the competition.

For now, the event highlights the role of public speaking in professional development and provides an example of how businesses can engage with business schools beyond conventional recruitment.

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JMG Showcases Energy Solutions as MAN Welcomes New President

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Left – Right: MAN official, Atiba Adegoke (Marketing Executive), Otunba Francis Meshioye (Former President MAN and Executive Director JMG Limited). Dr.E Okoye (President MAN), Segun Ajayi-kadir (DG.MAN), Our staff-Adeyemi Pratt (Sales Rep)

JMG Limited has showcased its battery, inverter and home appliance offerings at a manufacturers’ exhibition in Lagos, highlighting the role of energy solutions in supporting businesses and households amid Nigeria’s industrial development drive.

The exhibition, held from 5 to 7 October 2026 at the Oriental Hotel, Lagos, formed part of activities marking the Manufacturers Association of Nigeria’s (MAN) 54th Annual General Meeting and the sixth Adeola Odutola Lecture.

The event also coincided with the inauguration of Dr Eric Okoye as MAN’s new president, succeeding Otunba Francis Meshioye, an executive director of JMG Limited.

JMG highlights batteries, inverters

At the exhibition, JMG displayed its LivFast and Lithion batteries, inverters and other energy solutions designed for residential, commercial and industrial applications.

The company’s participation comes amid continued demand for reliable electricity solutions among Nigerian households and businesses, many of which require alternative power sources to maintain daily operations.

Through its home appliances division, Jamara Home, the company also presented Barossa AEON appliances, targeting consumers seeking products for modern household use.

However, the exhibition announcement did not provide sales figures, customer uptake or other data to measure the commercial impact of the showcase.

Also Read: NACCIMA’s Ofalla Festival Participation Highlights Onitsha’s Cultural Tourism Potential

MAN leadership transition takes centre stage

The exhibition brought together manufacturers, business leaders, policymakers and other stakeholders to showcase products, exchange ideas and explore business partnerships.

Okoye’s emergence as MAN president marks a leadership transition for the association, which represents manufacturers across Nigeria’s industrial sector.

Meshioye, who served as the outgoing president, remains an executive director of JMG Limited.

MAN’s leadership is significant to the manufacturing sector’s engagement with government and other stakeholders on issues affecting industrial production, investment and business competitiveness.

Why the exhibition matters

For manufacturers, access to dependable energy remains an important consideration in production costs, operational efficiency and business continuity.

The display of batteries and inverters placed energy supply among the practical business needs represented at the exhibition, while Jamara Home’s appliance showcase highlighted the consumer-facing side of the company’s operations.

The event also offered JMG and Jamara Home an opportunity to engage existing and prospective customers and build relationships with other players in the manufacturing industry.

JMG said its participation reinforced its links with Nigeria’s manufacturing community and its commitment to discussions on industrial development, energy efficiency, innovation and sustainable growth.

What to watch next

The broader significance of the exhibition will depend on whether engagements among manufacturers translate into commercial partnerships, increased investment and practical solutions to the challenges facing Nigerian businesses.

For JMG and Jamara Home, future sales performance, customer adoption and measurable business outcomes would provide a clearer indication of the impact of their participation.

For MAN, the new leadership’s priorities and engagement with government and industry stakeholders will be important in determining how the association responds to manufacturers’ concerns and opportunities for growth.

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