Kingsley Moghalu Becomes Chairman of Bluecode Africa’s Advisory Board

Sunday Ehigiator

Professor Kingsley Chiedu Moghalu, the former Deputy Governor of the Central Bank of Nigeria, has been named Chairman of the Advisory Board of Bluecode Payments Nigeria Limited as the European payments infrastructure firm expands its presence in Nigeria.

Bluecode Africa, supported by prominent U.S. and European institutional investors, announced the appointment on Tuesday, calling it a strategic step that reinforces its dedication to Nigeria’s developing payments ecosystem.

The announcement was made jointly by Chris Pirkner and Odin Krismayr, who described the appointment as a key governance decision for the company’s operations in Nigeria and across Africa.

Moghalu served as Deputy Governor of the Central Bank of Nigeria from 2009 to 2014, where he oversaw the Financial System Stability and Operations Directorates. He is credited with spearheading the introduction of the Bank Verification Number (BVN), a unique banking identifier that enrolled millions of users, streamlined Know Your Customer (KYC) procedures, and significantly advanced financial inclusion in Nigeria.

Speaking about his new role, Moghalu said Nigeria needs interoperable payment infrastructure rather than additional payment applications.

“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,” he said.

Davidson Regha, Chief Executive Officer of Bluecode Payments Nigeria Limited, commented on the appointment, noting that the company has spent the last three years developing its infrastructure in Nigeria.

“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,” Regha said.

The company’s entry into Nigeria was enabled by GAN International, led by Brigitte Tilley‑Gyado.

Tilley‑Gyado said Bluecode’s infrastructure aligns with the needs of Nigeria’s financial system.

“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,” she said.

The appointment comes as the Central Bank of Nigeria implements its Payments System Vision 2028, which prioritises interoperability, QR‑based payment acceptance and enhanced pan‑African connectivity within the financial sector.

Bluecode Africa operates QR‑based payment infrastructure that links banks, fintech companies and merchants through a unified acceptance platform.

According to the company, the model allows banks to retain customer relationships while expanding payment acceptance networks globally.

The company disclosed that its infrastructure is already integrated with Nigerian payment systems, including ChamsSwitch and NIBSS‑linked rails.

In March 2026, Bluecode participated in the NIBSS QR Dynamic QR Demo Day in Lagos, where it demonstrated a payment transaction using a QR‑enabled banking application without requiring users to download additional applications or merchants to undertake new integrations.

According to the company, its Nigerian network currently serves over 100,000 merchants and more than 35 million enabled wallets.