Fintech Onafriq has launched a pilot that enables individuals and businesses to send money from Nigeria to Ghana directly from digital wallets, bypassing traditional wire transfers.
The trial is conducted using the Pan-African Payment and Settlement System (PAPPS) and is approved by the Central Bank of Nigeria (CBN). Payments are made in Naira, settle instantly, and do not require users to source US dollars.
The service is aimed at individuals, traders, and small firms that move goods and services between the two countries. These users often encounter delays, foreign exchange charges, and multiple intermediaries when making cross-border payments.
The pilot starts on 1 December and will run for six months.
Onafriq provides mobile money rails that cover more than one billion mobile wallets across Africa. PAPSS links commercial banks, with over 160 banks in 19 countries and more than 400 million bank accounts on its network.
Together, the two systems connect mobile money platforms with banking infrastructure for cross-border use. A Nigerian wallet can send funds to Ghana via PAPSS, bypassing multiple correspondent banks.
The pilot also supports trade under the African Continental Free Trade Area, which aims to expand trade among African countries.
This follows an earlier Ghana-to-Nigeria instant payments corridor between the two firms, extending the setup to support flows in the opposite direction.
