The difficulties and fear of being fleeced by cyber rogues during cross-border transactions by Nigerians and Africans may gradually ease off following the creative instinct of some Nigerian undergraduate students.
Thus, the rise in global migration, remote job search and employment, students seeking admissions overseas, importation of goods and other forms of money exchanges has made cross-border payment inevitable.
In this direction, some students of the Obafemi Awolowo University (OAU) have identified these problems and have taken the bull by its horns in creating a financial solution platform called “Cudium” that provides ease to make safe, easy, fast and affordable cross-border payments possible.
Cudium acknowledges that there are a thousand and one fintech solution providers out there, however, Cudium is no just a solution provider App, it also serves as a marketplace for the peer-to-peer trading of money ‘fiat’.
Cudium is storming the fintech industry as the first payment platform with a decentralized marketplace that places the power to negotiate in the hands of the users.
Speaking with journalists at the launch of the startup on September 1st, 2022, the Founder and Chief Executive Officer of Cudium, Adejumobi Abdulrahman said, “Wé are declaring an end to the struggle and hassle of international money exchange and payments. We have identified this gap and believe no one should be bigger than the market, we are putting this as a stopgap solution. This is a declaration that you will be able to send, receive, convert and trade foreign currencies seamlessly as a Nigerian”.
The Chief Marketing Officer, Osungbade Akeem Wizemans projected “The world saw cross border transactions grow from $29 trillion in 2019 to around $39 trillion in 2022. There’s a yearning market and we are glad to have provided “This absolute solution, this is a solution, like no other, we are the first ever to do it this way”
The Chief Operations Officer, Idowu Kayode Elvis in his remarks said, “We have a team of seasoned professionals who have studied these multifaceted problems facing Nigerians in cross-border payments. We have worked hard every day to put an end to this problem and we are glad to be here, we have a whole lot and Cudium is here to make a change”.
This is not the first of many innovative solutions start-ups have sprung up from the students of Obafemi Awolowo University.
Jobberman, Nairaland, Cowrywise, Bumpa and many other innovations have been leading the African tech ecosystem with alumni of Obafemi Awolowo University taking charge.
We have high optimism that for the first African-led cross-border payment platform, Cudium is holding this prospect.
