When ₦1.2 M Feels Like Pennies: How the Daily Cap Limit is Reshaping Agency Banking
Just imagine walking up to your local POS agent to withdraw cash, only to be told, “Sorry, I’ve reached my limit – please come back tomorrow.” This is the new reality for Nigeria’s agency banking. In December 2024, the Central Bank of Nigeria (CBN) introduced a rule limiting daily withdrawals to ₦1.2 million per POS […]
10 Smart Services to Add to Your POS Business in Nigeria (and Earn More!)
POS businesses play a key role in offering financial services where regular banks can’t reach. New figures show POS transactions in Nigeria hit ₦18 trillion in 2024 up 69% from ₦10.7 trillion in 2023. As more POS businesses pop up, you need to stand out and adding new useful services can help you get more […]
POS Charges in Nigeria: A Comprehensive List for 2025 (+ How to Save)
Imagine needing cash urgently, but the nearest ATM is miles away—and even if you find one, it’s out of service. This is the reality for millions in Nigeria, where POS (Point of Sale) terminals bridge the gap in financial access. But here’s the problem: rising transaction costs are squeezing wallets harder than ever. This article […]
How To Start A POS Business in Nigeria: 8 Proven Tips
Since the cashless economy started in Nigeria, it opened doors for entrepreneurs to launch Point-of-Sale (POS) businesses. The Nigeria Inter-Bank Settlement System (NIBSS) reports that Nigerians spent ₦18 trillion via POS terminals in 2024—a 69% leap from ₦10.7 trillion in 2023—with transaction volume hitting 1.5 billion, up 8% year-on-year. Statista also forecasts that the mobile […]
20 Small Business Ideas in Nigeria for 2025
Jan 22, 2025 20 Small Business Ideas in Nigeria for 2025 by Olamide Famagunwa FacebookXLinkedIn Starting a business in Nigeria is a bold but rewarding move, as Small and Medium Enterprises (SMEs) contribute about 48% to the national GDP. However, nearly 50% of SMEs fail within their first year, mainly due to low market demand […]
How to Start a Small Business in Nigeria [2025]
So, you want to be your own boss? There’s nothing more fulfilling than that, but whether you’re starting a small or large business in Nigeria, it takes work. What you know can make all the difference, and that’s exactly why this guide is here—to arm you with everything you need to successfully start a small […]
A Step-by-Step Guide to Starting a Successful Business in Nigeria
Have you tried climbing the Olumo Rock barefoot? Lol, starting a business in Nigeria can feel just as tiring and frustrating especially in this economy. Here’s a hard truth – If you’re not mentally prepared, it might be better not to venture into it. However—and here’s the important part—it is possible to start and scale […]
