Nigeria and Ghana are now connected by a new cross-border payments pilot that allows instant transfers in local currency, marking a significant development in Africa’s push for seamless financial integration. The initiative, led by Onafriq Nigeria Payments Ltd in partnership with the Pan-African Payment and Settlement System (PAPSS), aims to simplify trade and payments for individuals, businesses, and merchants across the continent.
The pilot, which began in December 2025, allows Nigerian and Ghanaian users to send and receive funds directly in their own currencies through mobile wallets and bank accounts. By eliminating the need for foreign currency conversion and lengthy settlement times, the system seeks to reduce costs, speed up transactions, and support smoother commerce between the two countries.
“I sell textiles from Lagos to Accra, and it used to take days for payments to clear,” said a Nigerian trader participating in the pilot. “Now, I receive funds in Naira instantly, and I don’t have to worry about fluctuating exchange rates or hidden charges.”
Onafriq brings extensive connectivity to over one billion mobile wallets across Africa, while PAPSS links more than 160 commercial banks and 400 million accounts in at least 19 countries. Together, the partnership bridges the gap between mobile money networks and traditional banking systems, creating a unified platform for cross-border payments that has historically been fragmented and expensive.
A Ghanaian small-business owner who trades agricultural products with Nigerian buyers added, “Transactions used to be slow and confusing. With this new system, I can plan my deliveries better because I know payments will arrive on time. It makes cross-border trade much easier.”
Officials say the pilot aligns with the African Continental Free Trade Area (AfCFTA) mandate, which encourages the removal of trade barriers and fosters economic integration. PAPSS, backed by Afreximbank and the African Union, has been central to this agenda since its launch, providing a continental infrastructure for rapid, local-currency settlements.
While the pilot is limited to six months, its success could reshape how Africans pay across borders, reducing reliance on hard currencies and expensive intermediaries. Traders, SMEs, and everyday users stand to gain if the system scales beyond the initial phase, potentially becoming a blueprint for broader financial integration across the continent.
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