Nigeria’s indigenous payment platform developed by SystemSpecs, Remita, is preparing to expand its operations across Africa after announcing it processes over N60 trillion annually in financial transactions within Nigeria.
The move marks a significant step for the fintech powerhouse, which began as a simple payroll feature within an HR application. Now, Remita is poised to scale its solutions across the continent, driven by a vision of financial inclusion, digital infrastructure, and payment innovation for underserved African markets.
Managing director/CEO of Remita Payment Services Limited, Deremi Atanda, revealed plans during an exclusive interview with eGovernance Nigeria Magazine that, “We’ve become an ecosystem of rails, products, and services. Every year, we process more than N60 trillion in transactions. And this can only grow, especially as we begin to think of a vibrant Pan-African expansion. We’re at the fringe of that.”
Remita’s success story is one of transformation—from a modest feature that allowed HR software users to remit salaries, to a robust fintech infrastructure licensed by the Central Bank of Nigeria(CBN). The company now offers payment switching, super-agent services, terminals, advisory, and more.
“What many people know today as Remita started within our HR application,” Atanda shared. “We named it after ‘remittance,’ taking out one ‘T’ and replacing it with an ‘A’. Over time, what was once a feature evolved into a standalone product and eventually a company.”
This evolution wasn’t without setbacks. One early bid to deliver an end-to-end pension solution for the National Pension Commission in 2004 was unsuccessful. But instead of abandoning the concept, SystemSpecs pivoted and launched pensions.com.ng under the Remita brand—a move that sparked the birth of what would become one of Nigeria’s most trusted payment platforms.
Remita’s rise was further accelerated when it was selected to support the implementation of the federal government’s Treasury Single Account (TSA). According to Atanda, “TSA was a happenstance. The government was looking to solve a problem, and we were looking to get regulated. It was a preparation meeting opportunity.”
Remita’s contributions also include Nigeria’s first account-to-account switching infrastructure, built even before TSA was initiated—a milestone Atanda says remains relatively unknown outside industry circles.
Today, Remita employs over 300 Nigerians and continues to broaden its product offerings. With its sights set on Africa, the company plans to leverage its experience and technological depth to provide payment solutions across the continent.
Chairman of Digital Transformation Media Limited (DTML), publishers of eGovernance Nigeria Magazine, Shina Badaru, describes Remita’s journey as a case study in indigenous innovation. “Remita’s success highlights the critical role of local technology solutions in redefining Africa’s digital economy,” Badaru said. “We aim to showcase how homegrown innovation is solving real problems and now, has the potential to transform markets across Africa.”
As the fintech space across the continent becomes increasingly competitive, Remita’s early mover advantage, regulatory backing, and proven infrastructure may prove to be key differentiators. For Atanda and his team, the expansion is not just about scale—it’s about impact.
“The vision is huge, and we’re committed to that,” he said. “From a feature to a product to a company, now we’re becoming a continental force.”
We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →
Join Our WhatsApp Channel
