{
  "id": 5737271,
  "title": "Nigerian churches drive rising cross-border payments across Africa, PAPSS says",
  "url": "https://urgent.news/2026/09/05/nigerian-churches-drive-rising-cross-border-payments-across-africa",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-05T07:28:02.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/09/05/nigerian-churches-drive-rising-cross-border-payments-across-africa-papss-says/"
  },
  "original_language": "en",
  "account": "Nigerian churches are increasingly influencing cross-border financial transactions across Africa, according to Mike Ogbalu, CEO of the Pan-African Payment and Settlement System (PAPSS). PAPSS data indicates that worshippers in various African countries are sending tithes, offerings, and contributions to Nigerian religious organizations, contributing to the growing volume of payments flowing into Nigeria. This trend reflects a shift towards digital and local-currency settlement systems, reducing reliance on the U.S. dollar and lowering transaction costs. Ogbalu highlighted that PAPSS has recorded such transactions from multiple countries, including Kenya, demonstrating the continental reach of Nigerian religious institutions. Besides church-related remittances, PAPSS continues to record strong transaction volumes between Nigeria and other African countries, with Rwanda's transaction volumes approaching and sometimes exceeding those with Ghana. The CEO also mentioned growing trade corridors linking Nigeria with countries like Cameroon, Niger Republic, and Benin Republic, driven by the import of Nigerian goods. Ogbalu expressed optimism about the upcoming launch of the African Credit Rating Agency (AfCRA) in Mauritius, foreseeing context-driven credit assessments that could encourage more African capital retention. PAPSS is currently operational in 30 African countries and aims to expand to 38 by the end of 2026, with South Africa being the only major economy yet to join. The CEO's remarks come as Africa's cross-border payments industry is expected to grow significantly, with a recent report projecting the market to expand from $329 billion in 2025 to $1 trillion by 2035 due to fintech innovation, increased intra-African trade, and wider adoption of mobile money solutions.",
  "summary": "Nigeria’s churches are playing an increasingly significant role in driving cross-border transactions across Africa, according to the Chief Executive Officer of the Pan-African Payment and Settlement System (PAPSS), Mike Ogbalu. The post Nigerian churches drive rising cross-border payments across Africa, PAPSS says appeared first on Nairametrics .",
  "key_points": [],
  "editors_take": "Nigerian churches' growing influence on cross-border payments across Africa reflects a shift towards digital and local-currency settlement systems, reducing reliance on the U.S. dollar and lowering transaction costs.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}