As the country faces economic challenges, the need for adaptive strategies in the fintech industry becomes paramount. In line with this, leading fintech startup Hydrogen Payment Services Limited (‘Hydrogen’) has teamed up with Co-creation Hub (‘CcHub’) to host an insightful event themed ‘Adapting Fintech Business Models to Economic Climates’.

The event is set to take place on Thursday, April 18, 2024, from 12:00 a.m. WAT at the CCHub office in Sabo, Lagos, will delve deep into the intricacies of Nigerian economic challenges and how these influence the fintech ecosystem. Participants will gain actionable insights on how to adapt fintech business models to volatile economic conditions by prioritising flexibility, agility, and customer-centricity.

This collaboration underscores the shared commitment of both entities to empower aspiring founders venturing into the fintech space amidst economic uncertainties. By leveraging their respective expertise and resources, Hydrogen and CcHub aim to equip
emerging entrepreneurs with the knowledge, tools, and support needed to thrive in today’s dynamic economic conditions.

Emeka Awagu, Chief Technology Officer at Hydrogen, commented on the strategic partnership with CcHUB: “Our alliance with CcHUB amplifies our shared commitment to pioneering transformative solutions in the Nigerian fintech sector. By leveraging Hydrogen’s technological expertise alongside CcHU’s innovative approach, we are primed to set a new standard for fintech excellence and drive impactful change across the industry.”

The event will feature a distinguished panel of industry experts and thought leaders. including Ina Alogwu, Group Director, Digital Transformation, ARM HoldCo; Emeka Awagu, Chief Technology Officer, Hydrogen; and Miracle Ezechi, Digital Marketing Manager, Hydrogen.

The panel discussion will be moderated to encourage an engaging and insightful conversation on the strategies and innovations required to thrive in the Nigerian fintech landscape amidst economic challenges.

Interested attendees are encouraged to register here and reserve a spot.

The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, asserts that the nation is not defending the value of the naira with its foreign reserves.

He made this known on Wednesday in Washington, DC, where he is attending the International Monetary Fund-World Bank Spring Meetings.

Cardoso said $600 million came into Nigeria’s reserves account within the last two days.

The naira has appreciated against the dollar in recent weeks, gaining over 40%, from about N1,900/$ to about N1,000/$1 now. But while the naira rebound, Nigeria’s foreign reserves are dwindling, dropping to about $32.29 billion on April 15 — the lowest level in over six years.

Cardoso said, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where for example, debt is due and certain payments need to be made because that is also part of keeping your credibility.

“Other times money comes in, it takes it up again. Between yesterday and today, about $600 million came into the reserves account. We are looking towards a market that operates by itself, willing buyers, willing sellers and price discovery.

“The shift in our reserves has really little or nothing to do with defending naira and that is certainly not our objective.”

Lydia Simon, a Chibok girl who had been kidnapped by Boko Haram terrorists for several years, has been rescued, according to Nigerian Army troops stationed in the northeast.

Lydia, one of the abducted girls from Chibok Secondary School, was rescued along with her three children by troops conducting Operation Desert Sanity III around Ngoshe in the Gwoza Local Government Area of Borno State. Lydia’s serial number was 68, according to a statement from the Department of Army Public Relations.

Lydia was five months pregnant at the time of her rescue and claimed to be from Pemi Town in Chibok.

In addition, the statement stated that on Tuesday, April 16, 2024, Nigerian Army forces stationed in the North Central region for counterterrorism operations effectively ambushed and eliminated three terrorists who were determined to cause chaos.

Statistics provided by the parents of the abducted schoolgirls show that 271 students were taken on that tragic day in 2014, but 57 of them managed to escape soon after; 103 were freed thanks to federal intervention; 20 more were set free by state efforts; and 92 students remain in captivity.

There have been many mass kidnappings of schoolchildren since the Chibok incident, attracting global outrage. From Chibok to Dapchi, Kankara, Kagara, and many others, terrorists have in the last decade seized thousands of schoolchildren in mass kidnappings. While some of the students eventually regain freedom, others have been perpetually detained in the enclaves of their abductors and sexual abusers.