Wakanow acquires Nairabox

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CBN is going to shake up the POS business
Wakanow acquires digital ticketing, events platform, Nairabox
CBN tightens rules: One ATM for every 5,000 Cards

Wakanow acquires digital ticketing and events platform, Nairabox

What happened? Wakanow, a Nigerian online travel agency, has acquired Nairabox, a digital ticketing and events platform that lets users book movie and event tickets directly from their phones.

How is booking flights and buying movie tickets related? Wakanow isn’t just selling flights and hotels anymore; it’s moving into experiences. By adding Nairabox, the company can offer travellers more than just bookings; it can help them plan their entire trip, including concerts, movies, and other events at their destination. It’s part of a wider strategy to become a one-stop lifestyle platform.

Can you see the big picture? Wakanow probably feels everything is merging. From travel to fintech and entertainment.

It would make sense to make that connection easy for customers. Imagine you needed to plan a family trip, and you could just do everything from one place.

For Nairabox, the deal means access to Wakanow’s massive user base and infrastructure. For Wakanow, it’s a chance to deepen customer engagement and diversify its revenue beyond flights.

Related Story: Uber pulls out of Côte d’Ivoire after six years

Nigeria’s agent banking shake-up is just beginning

Traditional PoS terminal — Traditional PoS Terminal

The POS agent business is about to change. New rules by the Central Bank of Nigeria will force POS agents in the country to stick to just one principal. This means the POS agent gets cash from before you go to work will not have Moniepoint, OPay and PalmPay devices again — they have to choose one.

Why will this change the business? For years, POS agents have kept their businesses alive by juggling multiple terminals, switching between Moniepoint, PalmPay, or OPay depending on which one was up.

This new rule means we might have a monopoly on our hands because the biggest players, with stronger infrastructure and faster networks, are already positioning themselves to dominate.

And there’s another twist: customers themselves are changing. Many now prefer quick transfers over card withdrawals, making POS terminals less essential. That shift could quietly reshape the entire agent model.

So what happens when exclusivity meets a market already drifting away from POS transactions? Chimgozirim has some answers in his latest article.

CBN tightens rules: One ATM for every 5,000 Cards

Image showing someone trying to use the ATM — Photo by Medsile via Iwaria

What’s happening? The Central Bank of Nigeria (CBN) has proposed a guideline requiring one ATM per 5,000 payment cards issued. Banks and independent ATM deployers will need to vastly increase their ATM networks to meet the target.

Why now? Nigeria currently operates with about 16,714 active ATMs, while the number of payment cards in circulation would demand around 64,000 ATMs to comply.

Also, the move comes alongside another tightening rule: PoS terminals are now capped at ₦1.2 million daily processing in a push by the CBN to control transaction risk and oversight.

What does it mean? Banks face steep infrastructure costs in underserved or rural areas. They’ll also need to incorporate features like accessibility (for visually impaired users) and real-time cash monitoring systems across ATM networks.

This change could rebalance how Nigerians access cash — shifting emphasis back toward ATMs after years in which PoS terminals dominated everyday withdrawals. Whether it succeeds or strains smaller banks remains to be seen.