Sunday Ehigiator
Former Deputy Governor of the Central Bank of Nigeria, Professor Kingsley Chiedu Moghalu, has been appointed Chairman of the Advisory Board of Bluecode Payments Nigeria Limited, as the European payments infrastructure company formally expands its operations into the Nigerian market.
Bluecode Africa, backed by leading United States and European institutional investors, announced the appointment on Tuesday, describing it as a strategic move that underscores its commitment to supporting Nigeria’s evolving payments ecosystem.
The appointment was jointly announced by Chris Pirkner and Odin Krismayr, who described the move as a key governance decision for the company’s operations in Nigeria and across Africa.
Moghalu, who served as Deputy Governor of the Central Bank of Nigeria between 2009 and 2014, oversaw the Financial System Stability and Operations Directorates during his tenure. He was also credited with leading the introduction of the Bank Verification Number (BVN), a unique banking identifier that enrolled millions of users, simplified Know Your Customer (KYC) procedures and contributed significantly to improving financial inclusion in Nigeria.
Speaking on his appointment, Moghalu said Nigeria requires interoperable payment infrastructure rather than additional payment applications.
“Nigeria does not need more payment apps. It needs infrastructure that makes every app work together. Bluecode Africa has built exactly that: rails that connect Nigeria’s financial institutions to each other and to the world without displacing any of them. I return to this space because the mission is right and the moment is right,” he said.
Commenting on the appointment, Chief Executive Officer of Bluecode Payments Nigeria Limited, Davidson Regha, said the company had spent the last three years building its infrastructure in Nigeria.
“We have been building this infrastructure in Nigeria for three years. The rails are live, the transactions are running and the banking partnerships are ready to activate. Professor Moghalu’s chairmanship signals to every institution in this market that Bluecode Africa is a long-term partner, not a passing visitor,” Regha said.
The company’s entry into Nigeria was facilitated by GAN International, led by Brigitte Tilley-Gyado.
Tilley-Gyado said Bluecode’s infrastructure aligns with the needs of Nigeria’s financial system.
“What Bluecode has built is precisely what Nigeria’s financial system needs at this moment. The infrastructure connects banks, fintechs and merchants without competing with any of them. That is a rare thing, and it deserves to succeed here.”
The appointment comes amid the implementation of the Central Bank of Nigeria’s Payments System Vision 2028, which prioritises interoperability, QR-based payment acceptance and enhanced pan-African connectivity within the financial sector.
Bluecode Africa operates QR-based payment infrastructure designed to connect banks, fintech companies and merchants through a unified acceptance platform.
According to the company, the model allows banks to retain customer relationships while expanding payment acceptance networks globally.
The company disclosed that its infrastructure is already integrated with Nigerian payment systems, including ChamsSwitch and NIBSS-linked rails.
In March 2026, Bluecode participated in the NIBSS QR Dynamic QR Demo Day in Lagos, where it demonstrated a payment transaction using a QR-enabled banking application without requiring users to download additional applications or merchants to undertake new integrations.
According to the company, its Nigerian network currently serves over 100,000 merchants and more than 35 million enabled wallets.
