By 
From payroll tool to fintech powerhouse, Nigeria’s Remita targets continental growth with indigenous innovation.
From Humble Beginnings to Fintech Titan
Remita, Nigeria’s pioneering payment platform developed by SystemSpecs, is entering a bold new phase. The tech-powerhouse is planning to expand its operations across Africa. What started as a simple payroll feature has evolved into a full-scale fintech ecosystem. It now processes over ₦60 trillion annually, according to Mr. Deremi Atanda, Managing Director/CEO of Remita Payment Services Limited.
In an exclusive cover interview for the upcoming edition of eGovernance Nigeria Magazine, Atanda shares insights into Remita’s transformational journey from a feature within an HR application to one of Africa’s most respected indigenous fintech brands.
The Origin of Remita: A Story of Innovation and Grit
“The name ‘Remita’ comes from remittance—we simply dropped a ‘T’ and added an ‘A’,” Atanda explains. Originally developed to simplify salary payments, Remita quickly gained traction. “We started as a payroll feature. Then we created a product. Now we are a company,” he says, referencing the evolution depicted by the three ascending dots in the company’s logo.
The platform’s first formal product pitch came in 2004 when it was rebranded to respond to the National Pension Commission’s call for end-to-end pension solutions under the new PenCom Act. Though that bid was unsuccessful, the vision endured. SystemSpecs pivoted and launched Remita as a standalone payments product, laying the groundwork for what is now a multi-licensed fintech company.
Milestones That Shaped Remita’s Growth
From its early days to its breakout role in managing Nigeria’s Treasury Single Account (TSA), Remita has consistently stayed ahead of the curve. “TSA was a matter of preparation meeting opportunity. The government needed a solution, and we were ready,” Atanda recalls.
Prior to that, Remita had already achieved another national milestone—building Nigeria’s first account-to-account payment switch, a revolutionary infrastructure that connected all major banks before such interoperability was mandated.
A Fintech Ecosystem Licensed by the CBN
Now operating with a Tier 1 license from the Central Bank of Nigeria (CBN), Remita delivers a wide array of services, including:
- Payment switching and processing
- Super agency operations
- POS terminals and infrastructure
- Payment service advisory
- Digital collection solutions for governments and businesses
Atanda proudly states, “We’ve become an ecosystem of rails, products, and services—robust and scalable.”
Empowering Africa’s Digital Future
Today, Remita employs over 300 Nigerians and is preparing to scale its solutions across the African continent. “The vision is huge, and we’re positioning for exponential growth. We’re at the edge of a Pan-African expansion,” Atanda confirms.
Mr. Shina Badaru, Chairman of Digital Transformation Media Limited (DTML) and publisher of eGovernance Nigeria Magazine, describes Remita as a case study in indigenous innovation. “Remita’s story demonstrates how homegrown technology can deliver global impact. It’s a remarkable Nigerian success story that’s now poised to influence Africa’s digital economy.”
eGovernance Nigeria Magazine: Showcasing Indigenous Innovation
The next edition of eGovernance Nigeria Magazine will feature Remita’s rise on its cover, spotlighting it as a beacon of what’s possible through vision, resilience, and local innovation.
“As we celebrate Remita’s growth,” says Badaru, “we also signal a broader shift in the African tech narrative—from survival to scale, and from local problem-solving to continental leadership.”
