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Paxful, is making inroads into Africa with its trusted platform for bitcoin trading which has achieved widespread acceptance in other parts of the world.
The globally respected leading peer-to-peer bitcoin marketplace, which has over 2 million users and facilitated the trading of almost 500,000 bitcoins in their platform since its inception, believes that the success of its business model and impressive track record provide a strong platform for achieving greater financial inclusion in Nigeria and other parts of Africa.
Paxful was launched in 2015 with the goal of bringing more financial inclusion to the unbanked and underbanked populations through decentralized, peer-to-peer access of bitcoin. Since then, the platform has gained popularity, particularly in African countries. Paxful connects bitcoin buyers and sellers on its platform, and users are able to buy and sell bitcoin using over 300 different payment methods ranging from bank transfers, debit and credit cards, and cash payments.


According to the World Bank, nearly two billion people in the world have little or no access to traditional financial services. In Africa, the statistics are ever grimmer: an overwhelming percentage of adults on the continent are underbanked. Nigeria, Africa’s most populous country and largest economy, reflects this trend. The World Bank has estimated the number of unbanked Nigerian adults at about 100 million. According to The Global Findex Database 2017, only 40% of Nigerian adults have an account with a financial institution or a mobile money provider.
Paxful sees this as an opportunity to grow its business and reduce this huge gap which has very negative implications for the development of African nations. The marketplace has seen significant growth in digital currency transactions on the African continent in recent years, with the surge largely spearheaded by students and graduates under 25.
“Africa leap-frogged to the forefront of peer-to-peer finance adaptation. In 2018, our user base in Africa doubled, with most customers being between 18 and 24,” said Artur Schaback, COO and co-founder of Paxful. To increase access to the bitcoin economy for many more youths on the African continent, Paxful is launching a series of educational workshops across
Africa in 2019. This education the initiative kicked off in South Africa and Kenya in May, with Nigeria and Ghana in the cards for later in the year. The workshops will cover the very basics about bitcoin for novices and also further expand on innovative use cases and business applications observed around the world for more experienced attendees.
“As a values-driven company, we want to make the bitcoin economy accessible for everyone, especially the underbanked. To this end, we would like to reach as many young people as possible to help them understand the digital currency market and transact safely and with confidence. Our aim is to continue to partner with customers and other key stakeholders to ensure they are well informed about the opportunities presented by peer-to-peer finance,” stated Ray Youssef, CEO, and co-founder of Paxful.
This latest initiative forms part of Paxful’s proven commitment to education, which includes building two schools in East Africa under their #BuiltWithBitcoin charitable initiative, as well as providing scholarships to young women in the Middle East and gave donations to the GROW with Educare Centres project in South Africa. The company aims to build 100 schools across developing countries and expand its scholarship programs.

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Zenith Bank Refunds N3.23m To Angry Customer Chiamaka Agim

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A leading Nigerian commercial bank, Zenith Bank has returned N3.23 million to Chiamaka Agim, a Lagos State resident whose N4.039 million was erroneously deducted on January 9.

 

According to reports, Zenith Bank had previously informed Agim that she would only receive N800,500 of the N4,039,900 that had been debited.

 

But on Monday, January 16, in the evening, the bank sent back N3,239,400.

 

Recently, the Zenith Bank client shared a post about the refund on her Twitter page.

 

 

Agim reported that on that Monday, the bank contacted her to provide an update on the refunded money.

 

“After the event, they had to put my account on pause, so I didn’t get any alerts,” the user said. I was told to visit the bank the next day,” she recalled.

 

“They had credited my account with N3,239,400 around 7.30 pm on Monday,” the customer said. “My account statement was printed when I got to the bank.”

 

She claimed to have discovered that Access, one of the two banks to which the funds were transferred, still held the remaining N800,500.

 

Zenith Bank stated that Access Bank is now withholding the funds and that it is not their fault at this time. They said Access Bank stated that the funds would not be released without a court order.

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Primate Ayodele Begins 17 Days Of Appreciation & Philanthropic Impacts, Visits Sick People

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The Leader Of INRI Evangelical Spiritual Church, Primate Elijah Ayodele has kicked-off a 17-day appreciation and philanthropic impact on Sunday, 29th Of January till Tuesday, 14th Of February, 2023.

Many of his church members had a first-hand experience of the prophet’s philanthropic impact yesterday, Sunday, which marked the beginning of the programme. A good number of youths in the church choir were empowered, surgery fee was paid for 25 people, accommodation fee was paid for 20 people and every member of the congregation were given food items.

 

Today, Monday, which is the second day, Primate Ayodele visited old and sick people in Lagos communities with money, food items, clothing materials, and many more. He also prayed with them and settled some of their needs.

 

The old people couldn’t hold their joy as they passionately hugged the prophet and showered prayers on him for his rare philanthropic act. The very jovial prophet was also seen cracking jokes and playing with some of them just to lighten up their moods.

Till February 14, Primate Ayodele will be visiting several places, institutions, organizations to show gratitude and impact people with cash gifts, prayers, words of encouragement, food items, to mention but a few.

 

This is not the first time Primate Ayodele will be engaging in such philanthropic acts; every 14th of February is a day dedicated for his annual thanksgiving and it has been his culture to engage in massive philanthropic acts on days preceding the D-day.

 

Every February 14 for Primate Ayodele is always the mother of all empowerment. In recent years, the man of God has given out cars, tricycles, thousands of GCE/JAMB forms, scholarships, accommodation fees, school fees, sewing machines, beds, food items, among a host of many others.

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