Nigerian Tech Daily: Fintech, E-Mobility, and Payments Revolutionize the Market

Fintech Firms Make Strides in Reducing Losses

LASACO Assurance Plc has made significant progress in reducing its accumulated losses, with the Group's retained earnings deficit narrowing by 94.5% to N39.32 million as of September 30, 2026, from N710.08 million at the end of December 2025 [1]. This achievement brings LASACO closer to resuming dividend payments.

Abbey Mortgage Bank Plc has also made a notable turnaround by reducing its non-performing loan (NPL) ratio from about 80% to zero following a debt recovery exercise, as it transitions into regional commercial banking [2]. The bank plans to adopt a digital-first strategy in its new commercial banking phase.

E-Mobility Startup MAX Secures Major Funding Round

MAX, a Nigerian electric mobility company, has secured an undisclosed investment from US climate fintech Nithio, extending its Series B3 funding round to USD 29 M [3]. This funding will support the company's expansion plans, providing electric vehicles to commercial transport operators through a subscription model that combines vehicle financing, battery-swapping infrastructure, digital payments, and fleet management technology.

Payments Apps Shift Focus to Lending Services

OPay, a leading payments app in Nigeria, has established its lending business as the engine driving its revenue, surpassing its payments empire [4]. The company's IPO prospectus reveals that in 2024, transaction-based services accounted for 39% of revenue, while lending contributed 35%. This shift in focus highlights the growing importance of lending services in the Nigerian fintech landscape.

Stablecoin Expansion and Digital Asset Liquidity

B2C2, a digital asset liquidity provider, has appointed Elizabeth Rossiello as its chief operating officer as it accelerates its expansion into stablecoin liquidity [5]. Rossiello previously founded AZA Finance, and her appointment underscores the growing significance of stablecoins in digital asset payments.

The Takeaway for Nigerian Businesses & SME Operators

The rapid evolution of fintech, e-mobility, and payments in Nigeria presents both opportunities and challenges for businesses and SME operators. To stay competitive, it is essential to adopt digital-first strategies, leverage emerging technologies, and prioritize customer availability and rapid response times. By doing so, Nigerian businesses can capitalize on the growing demand for fintech services, e-mobility solutions, and digital payments, ultimately driving growth and innovation in the market.

[1] Nairametrics Fintech - LASACO cuts accumulated losses by 94.5%, edges closer to dividend resumption [2] Nairametrics Fintech - Abbey Bank to adopt digital first strategy as it transitions to commercial banking [3] WeeTracker - Nigerian E-Mobility Startup MAX Raises USD 29 M In Series B3 Funding With Nithio Investment [4] WeeTracker - OPay's Lending Business Has Quietly Overtaken Its Payments Empire As IPO Nears [5] The Condia - Why B2C2 hired AZA Finance founder Elizabeth Rossiello as it expands into stablecoin liquidity