A visionary banker John Obaro took a bold leap in the early 1990s leaving a stable banking career to pioneer local technology in Nigeria. At a time when foreign software dominated the market and skepticism about indigenous innovation ran high, Obaro’s belief in homegrown solutions laid the foundation for SystemSpecs and, ultimately, Remita.
Today, Remita stands not just as a product, but as a core part of Nigeria’s financial framework—facilitating secure transactions for government institutions, businesses, and individuals across the country. Beneath this trusted platform is a story of resilience, scale, and national innovation.
Engineering a Nigerian Solution for Nigerian Needs
Launched in 2005, Remita was designed to address Nigeria’s unique financial complexities—from handling multiple banks and fragmented infrastructure to adapting to diverse regulatory environments. Developed entirely within Nigeria, the platform goes beyond typical payment systems by serving as a full-fledged financial operating ecosystem.
Remita connects all Nigerian commercial banks and over 600 microfinance institutions, supports more than 5,000 billers, and powers financial services for over 150,000 businesses. From school fees to payroll processing, Remita ensures millions of transactions are executed seamlessly and securely.
Its performance is nothing short of massive: with annual transaction volumes ranging from ₦20 trillion to ₦60 trillion, and a cumulative total surpassing ₦250 trillion, Remita supports the lifeblood of Nigeria’s economy—salaries, taxes, business payments, and more.
Turning Data into Financial Power
In an era where data is critical, Remita processes millions of real-time financial data points daily. These insights inform smarter lending decisions, improve fraud detection, and support policy formulation. More than 400 financial institutions use Remita’s APIs to automate collections, assess credit risk, and increase access to financial services.
For instance, a farmer in Osun State applying for a micro-loan can now be evaluated instantly based on verified financial activity—no paperwork required—thanks to the platform’s data-driven intelligence.
A National Innovation with Global Standards
Remita’s strength lies in its identity: a Nigerian-born solution, developed by Nigerians, for Africa. In a continent often dependent on foreign technologies, Remita offers a sovereign alternative that prioritizes data ownership, regulatory flexibility, and locally tailored solutions.
Over the years, it has become a trusted partner to federal, state, and local governments—enabling efficient collections, automating ministries, supporting education financing, and enhancing transparency across public institutions. But its impact doesn’t stop there. From edtech startups and logistics providers to health innovators and NGOs, Remita serves as a financial engine for Nigeria’s growing digital economy.
Strategic Growth and Independent Innovation
In 2021, the platform entered a new phase by becoming a standalone entity—Remita Payment Services Limited (RPSL). This move allowed it to focus on cutting-edge payment technology, advanced API systems, and innovative financial tools.
Under the leadership of DeRemi Atanda, Remita is evolving into a comprehensive infrastructure for compliance, automation, and trust in Nigeria’s digital financial landscape. Whether it’s enabling statutory deductions or powering complex financial flows, the platform helps organizations “comply by design”—a critical asset in modern financial ecosystems.
Looking Beyond Nigeria: The Pan-African Vision
As Africa gears up for deeper economic integration through the African Continental Free Trade Area (AfCFTA), the demand for scalable, secure, and reliable payment platforms will rise. Remita is positioning itself to lead in this space, expanding its data services, supporting emerging startups, and preparing for cross-border transactions and continental-scale compliance systems.
“At Remita, we’re not just processing payments,” said Atanda. “We’re building the rails, services, and trust layers for a truly digital Africa.”
As Nigeria continues to assert its place as a fintech leader, Remita stands as a model for what’s possible when African countries build their own technological future—one solution at a time.
