BPC Unleashes Bold Move to Fix Nigeria’s N1.08Q Digital Crisis

BPC Unleashes Bold Move to Fix Nigeria’s N1.08Q Digital Crisis

BPC, Banking Processing Center
has taken a powerful step to strengthen Nigeria’s growing digital economy by naming Dapo Adeosun as its new managing director in the country. This move sends a clear message—the global payment solutions company is serious about helping Nigeria solve its payment challenges and open up access for millions of people.

Adeosun, a well-known name in banking and fintech circles, brings decades of hands-on experience. His appointment is part of a major push by BPC to expand its presence and provide smarter, safer, and more flexible digital solutions in Africa’s biggest economy.

Digital payments in Nigeria are growing at a stunning pace. From 2023 to 2024, the value of digital transactions soared by 80 percent—from N600 trillion to N1.08 quadrillion. This rise proves how fast Nigerians are embracing cashless systems. Yet the growth has also exposed major weaknesses in the system.

Point-of-sale (POS) machines now handle over 92.8 percent of all POS and ATM transactions. This is a big shift compared to a few years ago. Back then, most Nigerians depended on physical cash and had little trust in digital systems.

But while the numbers look good on the surface, problems still run deep. Many banks still use old, clunky systems that can’t keep up with modern demands. Millions of Nigerians remain outside the formal banking system. And in a troubling trend, digital fraud has jumped fivefold in early 2024, costing victims around N52 billion.

BPC believes it has the tools to turn things around. Its SmartVista platform offers a full set of solutions for card and merchant management, digital wallets, agent banking, mobile banking, and SoftPOS—technology that allows smartphones to act as payment terminals. All of this is built to work in Nigeria’s mobile-first environment.

Adeosun says he has seen Nigeria’s financial sector struggles up close during his time with NIBSS. “I witnessed firsthand the challenges that are in front of Nigeria’s financial sector,” he shared. “We need secure, scalable systems that can handle today’s digital demands and close the financial gap.”

He also pointed to outdated infrastructure as a major hurdle. “Legacy systems have long hindered banks from reaching their full potential,” Adeosun explained. “They block progress, especially in serving unbanked people. But with BPC’s SmartVista, we are changing that. We’re offering flexible and secure tools banks can grow with.”

What sets SmartVista apart is its smart use of artificial intelligence. The platform uses AI-driven fraud prevention to cut down transaction failures and stop cybercriminals. This ensures better security for banks and a smoother experience for customers.

BPC isn’t just working with banks. The company is also helping fintech startups and government agencies roll out new digital services. Its technology lets these partners plug in their services quickly and fix problems like delays or system crashes. That means people get faster, better services—and more of them.

Adeosun said BPC’s mission reaches beyond just financial systems. “We want to provide cutting-edge solutions that support Nigeria’s financial ecosystem,” he said. “But it’s also about powering digital marketplaces and helping governments go digital. That’s how we build a future-ready economy.”

BPC’s modular design also helps. Its systems can be built up or adjusted easily to fit what different institutions need. So whether it’s a major commercial bank or a rural microfinance outfit, everyone can benefit.

The company’s work reflects a clear understanding of Nigeria’s unique landscape. Many Nigerians still rely on informal markets and cash transactions. But BPC believes that with the right tools and leadership, it can help move the country into a safer, more inclusive digital future.

Adeosun’s leadership is key. His deep knowledge of the local market, paired with BPC’s global technology, could be the winning formula. For everyday Nigerians, that could mean easier ways to send money, receive payments, and access services that used to be out of reach.

This isn’t just a corporate move—it’s a mission. BPC wants to create real change by helping people participate in the modern economy. From high-level banking systems to small shops in rural towns, BPC’s goal is to build a digital network that includes everyone.

With strong leadership, smart tools, and a clear plan, BPC is turning Nigeria’s payment crisis into an opportunity. And for millions of people still left out of the digital economy, that could be a game-changer.