Remita, the Nigerian-born financial technology platform developed by SystemSpecs, is now processing over ₦60 trillion in transactions annually as it prepares to expand its footprint across the African continent.
Originally launched as a payroll component within a human resources solution, Remita has evolved into a full-fledged payment ecosystem. Its transformation from a simple remittance tool to a comprehensive financial services platform underscores a journey marked by resilience and innovation.
Speaking in an interview featured on the cover of eGovernance Nigeria Magazine, Mr. ‘Deremi Atanda, Managing Director and CEO of Remita Payment Services Limited, shared insights into the company’s origins and future ambitions.
“We’ve become a robust ecosystem offering payment infrastructure, services, and advisory,” Atanda explained. “Each year, we process transactions exceeding ₦60 trillion, and this is just the beginning. We are strategically positioned for Pan-African expansion.”
The upcoming issue of eGovernance Nigeria Magazine, a publication of Digital Transformation Media Limited (DTML), delves into Remita’s story—highlighting the brand as a beacon of local innovation with growing continental influence.
Atanda recounted how Remita got its name and identity: “It started as a payroll function—just to remit salaries. That’s how ‘Remita’ came about, derived from ‘Remittance’ with a tweak. Our logo, with its three ascending dots, symbolizes our growth from a feature to a product and now a full company.”
He also shared how Remita’s first attempt to enter the market was through a bid to manage pension payments in 2004, which ultimately did not succeed. But the setback became a turning point.
“After the failed bid, we repurposed the product. What began as pensions.com.ng evolved into Remita. We realized its potential beyond payroll, so we adapted it for broader financial transactions.”
Over time, Remita’s capabilities expanded. It now caters to a wide range of payment needs—from salary disbursements to non-payroll payments—serving individual users, businesses, and government institutions alike.
With a Tier 1 license from the Central Bank of Nigeria, Remita operates at the top tier of Nigeria’s financial services ecosystem. The platform supports switching, payment processing, super agency services, and terminal operations, among others.
Atanda also highlighted Remita’s role in creating Nigeria’s first account-to-account switching infrastructure before the introduction of the Treasury Single Account (TSA). “We built the backbone for account-to-account transfers in collaboration with banks—an innovation not widely known.”
Reflecting on the TSA collaboration with the Federal Government, he described it as a convergence of readiness and opportunity. “The government needed a solution, and we were prepared. It was one of those validating moments that reaffirm your vision.”
Remita now employs over 300 professionals and is preparing to scale its operations across Africa, bringing its expertise to underserved markets and supporting digital financial inclusion.
Mr. Shina Badaru, Chairman of DTML, said Remita’s journey illustrates the impact of indigenous technology solutions on Africa’s digital future. “Their story aligns with our mission to highlight how local innovations are shaping global tech narratives,” he said.
As the cover feature in eGovernance Nigeria Magazine, Remita’s story will spotlight how Nigerian tech innovation is moving from solving local challenges to enabling continental transformation.
According to Badaru, “This isn’t just a success story—it’s a signal of what’s possible when visionary leadership meets local ingenuity. Remita exemplifies how Africa can leap from adaptation to leadership in digital finance.”
As it ventures into new markets, Remita aims to deliver cutting-edge fintech services that drive financial empowerment and economic growth across Africa.
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