Kingsley Moghalu Appointed Chairman of Bluecode Africa Advisory Board

Professor Kingsley Chiedu Moghalu, former Deputy Governor of the Central Bank of Nigeria, has been appointed Chairman of the Advisory Board for Bluecode Payments Nigeria Limited. This strategic move marks the formal expansion of the European payment infrastructure company into the Nigerian market, supported by prominent institutional investors from the United States and Europe.

Moghalu, who served at the Central Bank of Nigeria from 2009 to 2014, overseeing crucial directorates, is recognized for his role in introducing the Bank Verification Number (BVN). This initiative significantly enhanced financial inclusion by enrolling millions of users and simplifying Know Your Customer (KYC) procedures.

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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.

Expressing his views on the appointment, Moghalu stated that Nigeria's financial sector requires robust, interoperable payment infrastructure rather than an proliferation of payment applications. "Nigeria does not need more payment apps. It needs infrastructure that makes every app work together," he said, highlighting Bluecode Africa's mission to create seamless connectivity among Nigeria's financial institutions and the global market without disrupting existing systems.

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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.

Davidson Regha, CEO of Bluecode Payments Nigeria Limited, affirmed that the company has spent three years developing its infrastructure in Nigeria, with live rails and ready banking partnerships. He noted that Moghalu's chairmanship signals Bluecode Africa's long-term commitment to the Nigerian market. The company's entry was facilitated by GAN International, led by Brigitte Tilley-Gyado, who believes Bluecode's infrastructure aligns perfectly with Nigeria's current financial needs, connecting various entities without competition.

The appointment coincides with the Central Bank of Nigeria's Payments System Vision 2028, which prioritizes interoperability, QR-based payments, and enhanced pan-African financial connectivity.

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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.