Still on business, a new study has revealed that Fintech applications are gaining a stronger presence on Nigerian smartphones than individual traditional bank apps, with OPay leading the way.
According to a new KPMG and Orange Group Nigeria study, OPay was present on 69% of smartphones surveyed, more than four times the presence of Access Bank, the top traditional bank app at 16%.
PalmPay followed at 29%, also outpacing every individual traditional bank app, while Moniepoint recorded 14% and Kuda 8%.
Traditional banks retained significant presence, with UBA and GTBank at 11% each, FirstBank at 10% and Zenith Bank at 9%.
KPMG linked the trend to rising smartphone ownership, which grew from 64% in 2023 to 75% in 2025, alongside growing demand for convenient digital payment solutions.
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FEDERAL GOVERNMENT SEEKS FRESH 1.5 BILLON DOLLARS WORLD BANK LOAN
FINALLY ON KU FM’S BUSNIESS NEWS THIS MORNING, the Federal Government has opened discussions with the World Bank for three new loans totalling1.5 billion dollars, even as Nigeria’s public debt climbed to a record N166.79tn at the end of June 2026
Documents from the World Bank show that the proposed financing comprises three separate 500 million dollars facilities for climate resilience, social protection and early childhood development.
The most immediate is a proposed 500 million dollars additional financing for the Agro-Climatic Resilience in Semi-Arid Landscapes project, known as ACReSAL.
The second proposed loan is another 500 million dollars IDA credit for the Household Prosperity and Empowerment-Social Protection Project.
The third proposed 500 million dollars facility is for the Nigeria Early Childhood Development programme, with an estimated approval date of March 15, 2027, a day before the proposed HOPE-SP approval.
The World Bank has fixed October 29, 2026, as the estimated date for consideration by its board.