Nigeria’s financial sector has taken a major leap as Bank78 Microfinance Bank unveiled the country’s first fully private digital bank, positioning itself as a secure and trust-focused option for affluent, upwardly mobile and digitally savvy customers.
Newsonspot reports that the launch event brought together regulators, industry leaders, innovators and partners, many of whom described the new bank as a fresh direction that could redefine digital banking standards in Nigeria.
Bank78 says it is entering the market to address the growing gap between fast-evolving fintech innovations and the stability customers expect from traditional banks.
EviOghene Osifo-Whiskey, a director at Bank78 MFB, explained that the digital bank was created to solve long-standing structural challenges in the banking system. She noted that Bank78 is built on transparency, strong security architecture and a clean, easy-to-use interface.
At the launch, the bank showcased several key features, including seamless digital onboarding, fast transfers, goal-based savings and 24-hour support through Ruby, its AI-powered virtual assistant. She also confirmed that the bank is fully licensed by the Central Bank of Nigeria, insured by the NDIC and compliant with NDPR data-protection laws.
According to the management, the bank’s “quiet prestige” identity is designed to give customers a calm, reliable and refined digital experience – something they believe is missing in the crowded fintech space.
“Money is sensitive. People must know where it is, how it moves and what it is doing. That’s what we guarantee,” Osifo-Whiskey said.
Bright Ajaegbu, chairman of Bank78, described the launch as the beginning of a new chapter in Nigeria’s banking industry.
“This is not just another bank. What we have done today is a disruption. Bank78 is built for businesses, families, individuals and students to enjoy a new way of banking,” he stated.
Ajaegbu revealed that the bank had been operating remotely while building its systems and is now ready for nationwide rollout. Customers can perform all transactions – from opening accounts to applying for loans – without visiting a physical branch. Although the bank maintains one physical office for reassurance, its model is fully digital, backed by a round-the-clock contact centre.
Bank78 is also positioning itself as a strong partner for small and medium enterprises (SMEs), especially those who feel abandoned by traditional banks.
Eberechukwu Dike, director of sales at Bank78, said the bank is committed to restoring empathy and real human support in business banking.
“At Bank78, we focus on SMEs. We support them from startup to growth—helping with business registration, advisory services, workshops and development programmes,” she explained.
The bank’s platform combines personal and business banking in one place, making it easier for middle-income households and new entrepreneurs to manage their finances without facing hidden charges. Bank78 also says it strictly follows regulatory guidelines and avoids unnecessary fees.
As the bank begins nationwide operations, it frames its launch as part of a broader push to rebuild trust in digital banking while offering modern tools tailored to the mass-affluent population, SMEs, students and families.
With its services now live, Bank78 aims to stand as a bridge between convenience and credibility in a rapidly evolving banking industry.
