In the early 1990s, John Obaro, a visionary banker, made an audacious decision: he left the security of the banking industry to build a Nigerian technology company. At a time when few believed in local software, he envisioned a future shaped by indigenous innovation. That bold move gave rise to SystemSpecs, and eventually, Remita—a homegrown platform that now powerfully drives Nigeria’s financial engine.

Fast forward to today, and Remita is no longer merely a product. It has become an integral part of Nigeria’s financial infrastructure, a trusted platform enabling transactions for governments, corporates, SMEs, and individuals alike. Beneath its surface lies something even more profound: a story of resilience, remarkable scale, data sophistication, and undeniable national pride.

Read also: Remita report urges Nigerian fintechs to embrace AI for growth, inclusion

A Vision Engineered into Infrastructure

Launched in 2005, Remita was built from the ground up to solve a uniquely Nigerian challenge: simplifying how institutions collect money, make payments, and manage payroll. It wasn’t imported or adapted from foreign software. Crucially, it was developed locally with Nigeria’s inherent complexities in mind, including its multiple banks, diverse regulatory variations, and fragmented infrastructure.

At its core, Remita functions as a full-scale financial operating system, far more than just a payment gateway. It seamlessly connects to all Nigerian commercial banks and over 600 microfinance banks, serves more than 5,000 billers, and supports over 150,000 corporates and SMEs. Whether a student is paying school fees or a multinational is processing payroll, Remita operates quietly behind the scenes, ensuring transactions are completed securely and efficiently.

The sheer scale of Remita is as remarkable as its reliability. The platform processes transactions valued between N20 trillion and N60 trillion annually, with a cumulative volume that has already exceeded N250 trillion. These figures are not just abstract numbers; they represent salaries paid, taxes remitted, bills settled, and livelihoods sustained across the nation.

In today’s digital economy, data is power, and Remita is a powerhouse. It processes millions of data points daily, providing deep insight into spending habits, loan repayments, government collections, and more. This data isn’t static; it’s actively used to improve lending decisions, detect fraud faster, and shape smarter policies. Over 400 lending institutions currently rely on Remita’s APIs to assess risk, automate collections, and significantly advance financial inclusion. Imagine a farmer in Osun State applying for a micro-loan. Through Remita, the lender can instantly verify income patterns, repayment behaviour, and account activity, all without filling out a single physical form.

Read also: Nigeria retains Remita as payment gateway amid integration plans

More Than a Platform, A National Asset

One of Remita’s most compelling features is that it is a proudly Nigerian innovation, built by Nigerians, for Africa. At a time when much of Africa’s financial infrastructure still depends on foreign technologies, Remita offers a sovereign, tested alternative. Its proven ability to operate at a national scale, meet global benchmarks, and evolve with complex regulatory demands makes it a unique tool for nations seeking to digitise securely. These matters profoundly because when a country owns its infrastructure, it controls its data, sets its rules, and can build solutions precisely tailored to its own needs.

Remita’s transformation from a mere software product into a critical national infrastructure did not happen overnight. It took years of continuous improvement and meticulous trust-building, particularly with the public sector. Today, it comprehensively supports payment operations across federal, state, and local governments. It automates ministries and agencies, powers collections in education and taxation, and brings unprecedented financial transparency to public institutions.

Yet, Remita’s reach extends far beyond government payment solutions like the TSA. Startups, edtech firms, health innovators, schools, logistics businesses, and non-profits across the spectrum all leverage Remita’s APIs. The platform has truly become a vital financial utility for Nigeria’s burgeoning digital economy.

In 2021, to unlock even greater potential, Remita was formally separated from its parent company and became Remita Payment Services Limited (RPSL). This strategic move enabled the platform to focus more deeply on innovation in payment technology, advanced API development, and product scalability.

Under the leadership of ‘DeRemi Atanda, RPSL is positioning Remita as more than just a payment tool. It is evolving into a critical compliance and innovation layer that builds foundational trust across Nigeria’s digital economy. From automating statutory deductions to enabling complex financial workflows, Remita is helping organizations comply by design, rather than merely by enforcement.

In today’s digital world, where platforms define economic power, Nigeria has, through local innovation rather than foreign investment, developed one of the most robust and scalable fintech infrastructures on the continent.

Read also: Importers partner Remita to digitise payments

The Road Ahead: African Possibilities

As Africa moves towards deeper economic integration through the African Continental Free Trade Area (AfCFTA), platforms like Remita will play an increasingly critical role. Cross-border transactions, tax remittance, regional compliance, and pan-African financial flows all demand reliable, scalable technology platforms.

Remita is actively preparing for this future. As Atanda aptly put it, “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.” The company is expanding its data services, enabling broader credit access and supporting emerging tech startups across the continent. Beyond its core business, the platform is also contributing to important policy conversations around open banking, digital identity, and secure infrastructure.

This is not just about Nigeria’s fintech leadership. It is about creating a replicable model for sustainable, African-led innovation.