By Chinwendu Obienyi
Palm pay has reiterated its commitment to combating financial fraud through cutting-edge technology.
This was emphasised during a recent courtesy visit by the company’s Managing Director and management team to the Nigerian Financial Intelligence Unit (NFIU).
Addressing the growing prevalence of fraud in the country, Chika Nwosu, Managing Director of PalmPay Limited, stressed the need for robust collaboration between fintech companies and government agencies.
At PalmPay, we believe that a secure financial ecosystem is the foundation for a thriving digital economy. Our partnership with the NFIU underscores our dedication to supporting Nigeria’s anti-fraud and anti-money laundering (AML) efforts. Together, we aim to ensure a safer digital experience for all Nigerians.”
Chika also highlighted the significant rise in electronic payment transactions across Nigeria’s financial system, underscoring the importance of proactive measures to address emerging threats.
He also reaffirmed PalmPay’s support for the NFIU’s mission to safeguard the country’s financial infrastructure and outlined plans for close collaboration with the agency, including knowledge-sharing initiatives, stakeholder training programs, and the development of innovative solutions to combat fraud in the digital space.
Hafsat Abubakar Bakari, Chief Executive Officer of the NFIU, commended PalmPay for its proactive approach to financial security and its commitment to aligning with national and international regulatory frameworks.
She emphasized the importance of continuous collaboration between private sector players and government institutions in the fight against financial crimes.