Precious Chiedozie Ekezie is the managing director and CEO of Airvend Payment Service Ltd (formerly Callphone Ltd)—owners of Airvend, Airpay, and Airgate. He oversees a dynamic suite of payment solutions under one of Nigeria’s leading FinTech brands, championing operational excellence and strategic growth across the company.
He co-founded Madsuite Technologies, a digital branding and IT company that earned global recognition, including selection by the Tony Elumelu Foundation as one of Africa’s top 1000 startups and representing Nigeria at a global startup showcase in Istanbul. In 2020, he played a key role in the strategic merger of Madsuite and Airvend Limited, expanding the company’s influence and reach.
Under his leadership, Airvend secured critical licences from the Central Bank of Nigeria to operate as a Payment Solution Service Provider, Payment Terminal Service Provider, and Super Agent—milestones that elevated the company’s capacity to deliver inclusive financial services.
In his interview with Chisom Michael, Ekezie shares insights on navigating regulatory landscapes across Africa, the evolution of Nigeria’s FinTech sector, and the strategic steps his company has taken to scale operations, build trust, and foster financial inclusion. From leveraging local partnerships to deploying real-time compliance tools and integrating flexible APIs, he outlines what lies ahead for Nigeria’s payments infrastructure. Excerpts:
What strategies prove effective when navigating multiple jurisdictions’ compliance requirements for pan-African operations?
Navigating multiple jurisdictions’ compliance requirements across Africa requires a strategic blend of regulatory intelligence, local partnership, and technology-driven oversight.
At the core of our approach, we focus on four key strategies. First, we engage legal and regulatory partner AELEX Legal Firm alongside our in-house Legal team in each jurisdiction to ensure alignment with national laws, licensing obligations, and evolving compliance standards like KYC/AML frameworks. We also maintain an internal compliance matrix that maps regulatory similarities and divergences across countries, allowing us to build adaptable operational models that scale while respecting local nuances.
Additionally, we leverage compliance automation tools to monitor transactions, enforce risk rules, and generate real-time reports for transparency, auditability, and responsiveness to regulatory changes.
To further support our expansion, we collaborate with local financial institutions and licensed entities, extending services compliantly in markets where direct licensing is still underway. This strategic partnership approach helps de-risk our expansion and fosters stakeholder trust.
What core competencies should fintech executives cultivate to drive innovation in competitive markets?
To drive innovation in competitive FinTech markets, executives must cultivate a blend of strategic, technical, and leadership competencies.
The key factors for success are tech fluency, such as understanding emerging emerging technologies like AI, blockchain, and API ecosystems, is crucial for evaluating opportunities and shaping product direction, while regulatory acumen, encompassing a deep grasp of financial regulations, compliance risks, and licensing dynamics, helps leaders navigate complex environments responsibly and sustainably.
Additionally, customer-centric thinking is essential, with innovation grounded in solving real user pain points through design thinking, UX research, and data-driven product development. In a rapidly evolving FinTech landscape, agility and adaptability are key, requiring leaders to embrace experimentation, pivot quickly, and foster an organisational culture that is resilient and responsive.
Finally, visionary leadership is necessary to inspire teams with a clear vision, align innovation with business goals, and cultivate high-performing, mission-driven teams.
How do currency volatility risks influence technological solutions for international remittances?
Currency volatility risks play a very big role in shaping the tech behind international remittances. When exchange rates fluctuate a lot, it can mean that by the time money is sent and received, its value has changed, and sometimes this change is very significant. That’s a big deal for people relying on those funds, especially in countries with unstable currencies like Nigeria.
To handle this, tech solutions often step in with features like real-time exchange rate locking, multi-currency wallets, or even using stablecoins or blockchain-based systems to avoid traditional currency swings. Some platforms also use algorithms to time the conversion for more favourable rates or partner with local providers to minimise delays and exposure to market shifts.
In short, currency volatility pushes companies to get creative and build smarter, faster, and more reliable remittance systems that protect users from losing value during the transfer process.
What are the key features of Airgate that make it a robust payment gateway for Nigerian businesses?
Airgate proudly holds a Visa Payment Facilitator Certification and is also Integrated with the Mastercard Payment Gateway.
Airgate stands out with its versatile payment options tailored for Nigerian businesses. Key features would include Pay-with-Transfer, a seamless bank transfer method with instant confirmation, card payments, USSD, and QR support.
It also offers real-time transaction monitoring with a detailed monitoring dashboard, robust fraud protection, and easy API integration, making it both powerful and developer-friendly.
Can you share insights into how Airpay facilitates agency banking and merchant services aggregation across Nigeria?
Airpay is one of our products, specially designed to serve merchants and Agents across Nigeria.
Airpay allows Agents to carry out cash-in, cash-out services and also bill payment services. It also fosters Merchant collections via cards, cash, pay-with-transfer, virtual accounts or alternative channels, ensuring flexible payment options.
Ultimately, Airpay bridges digital financial services and the informal economy, driving access, efficiency, and innovation across Nigeria’s payment landscape with its Agency Banking Enablement, Merchant Services Aggregation and Settlements, Smart Terminal Deployment and Data-Driven Insights.
How do you foresee digital wallets and virtual accounts reshaping the future of payments in Nigeria?
Digital wallets and virtual accounts would go a long way in reshaping the future of payments in Nigeria, it is already happening. As customers gradually move away from conventional bank accounts due to the many challenges they pose, virtual accounts and digital wallets become the nearest alternative due to their seamlessness in collections and payouts.
Together, they support the move toward a more cashless economy, foster innovation in fintech, and open up new channels for credit, savings, and investment products tailored to underserved segments.
How does Airvend’s categorised PSS license align with CBN’s financial inclusion goals?
Airvend’s acquisition of the Central Bank of Nigeria (CBN)’s 3-in-1 Categorised Payment Solution Services (PSS) License directly supports the CBN’s financial inclusion objectives by enhancing access to digital financial services, particularly for underserved and unbanked populations.
This license authorises Airvend to operate across three key categories: Payment Solutions Service Provider (PSSP), Payment Terminal Service Provider (PTSP) and as a Super Agent in Nigeria. This comprehensive licensing enables Airvend to provide end-to-end digital payment infrastructure and services across Nigeria.
This Licence further aligns with CBN’s financial Inclusion goals as it has enabled us to build a robust Infrastructure that serves the unbanked and underserved regions. Services like our Agency banking solution and digital payment Infrastructure take financial services straight to the rural communities where conventional banking services may not be available.
By leveraging its 3-in-1 PSS License, Airvend is well-positioned to advance the CBN’s financial inclusion agenda. Its integrated services facilitate broader access to financial tools, especially in areas where traditional banking infrastructure is lacking.
How can you rate Airvend’s milestones post your PSS license by CBN?
Regarding our achievements after the commercialisation of our license in 2022. It has truly been a remarkable journey.
With the support of my incredible team and a unique board, we’ve been able to hit significant milestones. Notably, we crossed our monthly transaction volume into the billions for the first time in the company’s history.
I vividly remember how our total transaction volume for the entire calendar year of 2023 was over ₦8 billion, but today, we achieved that same volume in almost a single month.
And we have also forged strong partnerships with banks, other financial institutions and industry regulators.
What drives us is the belief that we can do even more, and that’s exactly what we’ve kept our eyes on.
How do collaborations with institutions like NIBSS strengthen Airvend’s position in the FinTech industry?
NIBSS used to be the singular CBN recognised PTSA, they represent an Integral part of the payment ecosystem, collaboration with NIBSS strengthens Airvend’s position a great deal in terms of credibility, access and Innovation. NIBSS have an array of products and APIs that not only add value to us as a company but also help us stay within the regulators’ confines.
As mentioned, NIBSS is a central player in Nigeria’s payment ecosystem, so partnering with them helps Airvend integrate more deeply into the national financial infrastructure. It means smoother, more secure transactions and better trust from banks and customers. It also opens the door to more advanced services like real-time payments or verification systems that keep us competitive in the fintech space.
What role do APIs play in enabling seamless integration for businesses using Airgate or other Airvend platforms?
APIs have made collaboration a lot easier.
APIs play a central role in enabling seamless integration for businesses seeking to use or using Airgate or other Airvend platforms, like bill payments and virtual account as a service.
First and foremost, APIs simplify the onboarding process. Instead of reinventing the wheel, businesses can plug into Airvend’s services like Bill payment – airtime top-ups, utility payments, Airgate or Virtual account-as-a-service functionalities quickly and efficiently. This reduces development time and allows them to go to market faster.
Another key advantage is flexibility and Control. Through APIs, businesses can choose and customise how Airvend services are integrated into their workflows. This kind of control is crucial for creating tailored user experiences. APIs also foster scalability; a well-documented API would make it easier to expand capabilities, add new services, or even connect with other platforms without major architectural overhauls.
So in short, APIs are the backbone of Airvend’s ability to serve diverse businesses(B2B), providing speed, flexibility, scalability, and security all in one package.
How do you ensure that Airvend remains compliant with both local and international data protection regulations?
At Airvend, ensuring compliance with both local and international data protection regulations is a core priority, deeply embedded in our governance, technology, and operational frameworks. We adopt a comprehensive, multi-layered approach that includes: Regulatory Alignment, Data Governance Framework, Security Infrastructure, Privacy by Design, Employee Training and Accountability, and Audit and Monitoring.
We view compliance as both a legal obligation and a trust-building imperative. By combining legal adherence, advanced technical safeguards, and a culture of accountability, we strive not only to meet but to exceed regulatory expectations.
To reinforce this commitment, we have attained PCI DSS certification and several ISO standards, which validate our secure handling of sensitive data and standardise our operations across all permissible activities. These certifications reflect our proactive, transparent, and integrity-driven approach to operating within the FinTech ecosystem.
In what ways has Airvend adapted its services to meet the evolving needs of Nigerian consumers and businesses?
Through strategic partnerships, regulatory compliance, and user-focused innovations, Airvend continues to evolve in alignment with the fast-changing Nigerian digital economy, addressing both consumer convenience and business efficiency.
We ensure we are always in-tune with our customers’ yearnings, we closely monitor the direction to which consumer needs are tilting and make sure that we meet them at the point of their need. We have built an adaptable system that is flexible enough to cater to the evolving needs of Nigerian consumers and businesses.
What opportunities exist for Nigerian FinTech firms like Airvend to collaborate with international partners?
Nigerian fintech firms like Airvend have several promising opportunities for collaboration with international partners, driven by the country’s dynamic digital finance landscape and growing consumer base.
Opportunities can range from cross-border payments and remittances, market expansion and access to capital, to talent development and knowledge transfer, technology transfer & infrastructure scaling, api integration and open banking, technology and infrastructure sharing, product localisation & co-creation.
Such collaborations can strengthen Airvend’s positioning as a gateway between local market needs and global fintech solutions, scaling inclusive finance, accelerating innovation, and deepening digital trust. The opportunities can be limitless.
What lessons have you learned from leading a company that operates at the intersection of technology, finance, and regulation?
Leading a company at the intersection of technology, finance, and regulation has taught me several key lessons. Success in this space hinges on balancing innovation with responsibility, as we continually push the envelope with new tech while staying grounded in regulatory compliance and financial prudence.
Over time, I’ve come to see regulation not as a barrier but as a framework that builds trust, enabling us to work with regulators rather than against them, which ultimately helps us move faster.
Also, trust has proven to be the currency we operate on, whether it’s users trusting our platform or regulators trusting our practices, with transparency and consistency being the cornerstones of that trust.
In addition, I’ve learned that technology must serve real-world needs, with the most valuable innovations addressing genuine financial pain points and aligning with actual user behaviour rather than theoretical possibilities.
Cross-functional thinking has also been critical, as working in silos is not an option—bringing tech, legal, compliance, and product teams into the conversation early ensures smarter solutions and avoids surprises.
