By JKNewsMedia
A MAJOR step towards realising Africa’s trade integration gained momentum as Union Bank of Nigeria (UBN) joined the Pan-African Payment and Settlement System (PAPSS), enabling seamless cross-border money transfers to select African nations under the African Continental Free Trade Agreement (AfCFTA).
The partnership introduces instant and secure intra-African transactions to customers across a growing number of countries.
The PAPSS framework streamlines payments between African countries without the need for foreign exchange conversions.
UBN customers can now send money instantly to Ghana, Kenya, Rwanda, Liberia, Sierra Leone, Gambia, Malawi, Zambia, Zimbabwe, Djibouti, Nigeria, and more participating nations, with plans for further expansion.
This payment solution addresses key bottlenecks in cross-border transactions, offering customers faster transfers, reduced foreign transaction costs, no foreign exchange sourcing requirement, and improved security.
The integration aligns with broader efforts to promote intra-African trade and deepen financial inclusion across the continent.
Union Bank’s Head of Transaction Banking, Peter Amadi, reaffirmed the Bank’s dedication to delivering transformative banking services.
He noted that the initiative reflects Union Bank’s strategy to offer simpler, smarter solutions that evolve with customer needs, while strengthening client relationships and enabling sustainable financial growth.
CEO of PAPSS, Mike Ogbalu III, hailed the development as a sign of progress for Africa’s financial infrastructure.
He highlighted Union Bank’s long-standing presence in Nigerian banking and praised its decision to support a pan-African system that enables trade and economic collaboration between African nations.
The collaboration represents a significant milestone in Union Bank’s innovation-driven agenda.
By enhancing its digital banking capabilities, the Bank continues to deliver efficient services that empower customers in a changing economic landscape.

