Remita

What Remita does

Remita is a Nigerian electronic payment platform headquartered in Lagos, founded in 1992, that operates as critical national payment infrastructure for government and commercial financial flows. The platform processes Nigeria's Treasury Single Account operations, civil servant payroll through the Integrated Personnel and Payroll Information System (IPPIS), and federal government revenue collections. In December 2025, Remita received approval from the National Pension Commission (PenCom) as a Payment Solution Service Provider, authorizing it to process pension contribution remittances from formal-sector employers — a market that now has 11 authorized providers. Remita's underlying technology is an electronic payment processing platform built around government mandate integrations (TSA, IPPIS) and a new regulatory framework (PenCom PSSP), with Google Cloud used for data storage infrastructure. The company also operates a digital payment channel accessible to Nigerian businesses and individuals for general electronic payment needs.

Remita's business model is built on transaction fees from government payment processing and, more recently, pension remittance services. It distributes through direct institutional relationships with federal ministries, departments, and agencies, through PenCom-authorized pension channels, and via a self-serve digital platform for businesses and individuals. The customer base spans three segments: federal government entities (primary), formal-sector employers (pension remittance), and Nigerian businesses and individuals (digital payments). Pricing is quote-based enterprise B2B for government and large institutional clients, with no publicly disclosed fee schedules. The company's scale commentary emphasizes its role as Nigeria's critical payment processing platform, though no revenue figures are disclosed in available sources. Remita operates exclusively within Nigeria as a domestic payment infrastructure provider, with no stated international footprint.

Name

Remita

Website

https://remita.net

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

251–500 employees

Short description

Remita is a Nigerian electronic payment platform that processes government Treasury Single Account operations, civil servant payroll via IPPIS, and federal revenue collections, and is PenCom-authorized for pension remittances across the formal sector.

Ownership category

akta.pro rank

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Government Payment Processing: Transaction processing fees from government payment operations including Treasury Single Account, IPPIS payroll processing, and government revenue collections. Remita processes critical government financial flows as Nigeria's payment infrastructure.
2. Pension Remittance Services: Payment solution services for pension contribution remittances, authorized by PenCom as a Payment Solution Service Provider. Revenue generated from transaction processing for employer pension contributions.

Go-to-market motion2 records

Distribution channels3 records

Core offering

Remita is a unified electronic payment platform serving businesses, government entities, and individuals in Nigeria. The platform processes government financial operations including the Treasury Single Account, civil servant payroll through IPPIS, and government revenue collections. It also handles digital payments, bill payments, fund transfers, and pension contribution remittances as an authorized Payment Solution Service Provider under PenCom.

Product overview

Remita is a unified electronic payment platform serving both businesses and individuals in Nigeria. The core Remita platform handles government payment infrastructure including the Treasury Single Account, civil servant payroll processing through IPPIS, and government revenue collections. The platform was also approved by PenCom as a Payment Solution Service Provider for pension remittances, expanding its role in Nigeria's financial infrastructure.

Differentiator

Problem solved

Functional benefit

Products and services

• Remita Electronic Payment Platform

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and infrastructure.

• National Pension Commission (PenCom)coreOthers · 15 December 2025PenCom approved Remita as a Payment Solution Service Provider (PSSP) for pension contribution remittances, expanding Remita's authorized role in Nigeria's pension scheme. This regulatory approval increases the total authorized PSSPs to 11 providers and aims to improve accuracy, efficiency, and transparency in pension contribution remittances.
• Federal Government of NigeriacoreOthersRemita serves as the designated payment processing platform for Nigeria's critical government financial operations including the Treasury Single Account, civil servant payroll through IPPIS, and government revenue collections. This relationship positions Remita as essential national payment infrastructure for the Nigerian government.
• Google CloudinfrastructureTechnology or IntegrationData repositories from Google Cloud storage services were reportedly exposed in the security breach incident, indicating Remita utilizes Google Cloud infrastructure for data storage operations.

Scale indicators3 records

Recent moves4 records

Expansion highlights3 records

Broad incumbents

• Cellulant: Pan-African payment platform providing digital banking, payment, and collection services across multiple African markets. Comparable to Remita in serving governments and large enterprises with payment infrastructure.
• SystemSpecs: Long-standing Nigerian fintech commonly associated with the Remita platform and broader enterprise software offerings. Comparable as an established domestic player in payment and government-facing technology.
• MFS Africa (Onafriq): Africa-wide digital payments hub connecting mobile wallets, banks, and money transfer operators. Comparable to Remita as a payment-rail operator with regulated cross-border and domestic money-movement capabilities.

Emerging players

• VoguePay: Nigerian online payment gateway serving SMEs and individuals for cards, transfers, and bill payments. Comparable as a domestic SMB/consumer digital payment platform competing for similar transaction volume.
• Chipper Cash: African cross-border payments and remittance app active in Nigeria. Comparable to Remita's consumer/business transfer functionality with a stronger cross-border remit positioning.

Direct peers

• Interswitch: Nigeria's largest payment processing switch, operating Verve cards, Quickteller, and government payment infrastructure including TSA-era integrations. Directly comparable to Remita as a domestic payment processor with government and bank-side mandates.
• Paystack: Nigeria-founded payment gateway (acquired by Stripe) serving SMBs and enterprises with API-driven collections and transfers. Comparable to Remita's SMB/consumer digital payment layer and shared domestic merchant base.
• Paga: Nigerian mobile money and digital payments platform serving consumers, agents, and businesses. Comparable to Remita's consumer/SMB payment and bill-payment use cases in the same domestic market.
• eTranzact: Nigerian payment processor co-approved with Remita as a PenCom PSSP for pension remittances. Most direct peer in the pension vertical and competing for government and enterprise payment volume.
• Flutterwave: Pan-African payment processor serving businesses and government counterparties across Nigeria and beyond. Comparable to Remita in offering unified digital payment rails for enterprises, though with a broader cross-border focus.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/RemitaNET
• Facebookfacebook.com/RemitaNet
• LinkedInlinkedin.com/company/remita

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Remita