Remita, the leading payment platform developed by Remita Payment Services Limited, has been nominated for the prestigious ‘Product of the Year’ category at the ThisDay 2025 Awards. This recognition is a testament to the platform’s innovation and significant contributions to the Nigerian financial sector.
Remita’s Legacy of Innovation in Nigeria’s Financial Sector
Remita has been a pioneer in Nigeria’s payment landscape, offering seamless interbank payments for over 20 years. Developed by SystemSpecs Holdings, Remita stands out as a 100% indigenously developed solution. It has consistently evolved to meet the growing demands of the nation’s financial ecosystem.
DeRemi Atanda, the Managing Director of Remita, expressed his pride in the nomination, attributing it to the collective effort of the Remita team and the platform’s loyal customers and partners. He highlighted the nomination as a reflection of the company’s commitment to simplifying payments and driving digital transformation.
“This recognition affirms our mission to enable everyone, everywhere, to do more by simplifying payments. We are honoured to be at the forefront of this digital transformation, empowering governments, businesses, and individuals to thrive in an increasingly digital world. We are excited about what the future holds as we continue to push boundaries and deliver even greater value to the economy and society at large,” Atanda said.
Impact on the Local Financial Ecosystem
The statement further emphasized that Remita’s nomination reflects its substantial impact on Nigeria’s financial sector. By addressing critical gaps in the country’s payment infrastructure, Remita has helped create a unified, efficient interbank payment rail and a consolidated electronic payment system for businesses and governments.
Remita’s infrastructure connects over 2,500 Ministries, Departments, and Agencies (MDAs), 600 microfinance banks, and a vast network of fintechs, banks, and businesses across Nigeria. The platform processes transactions totaling over N80 trillion annually and plays a crucial role in the operations of the Federal Government’s Treasury Single Account (TSA), contributing to monthly savings of over N45 billion.
This position has made Remita an indispensable tool for government financial operations, underpinning national payments for more than a decade.
Advancements in Payment Solutions and Financial Inclusion
Remita continues to set new industry standards with its innovative features. The platform allows users to view all account balances and perform transactions across multiple bank accounts from a single interface. For corporate users, a digital approval system eliminates the need for paper-based manual approvals, accelerating the payment process.
Merchants benefit from Remita’s wide range of digital payment channels, providing greater flexibility for customer transactions. Additionally, in the lending sector, Remita enhances access to credit by leveraging payment data for credit services and improving repayment rates through automatic deductions from borrower accounts.
Remita’s continued innovation reflects its commitment to driving financial inclusion and boosting the efficiency of Nigeria’s financial infrastructure. The platform’s seamless integration with various sectors highlights its role in shaping the future of digital payments in Nigeria.
