Rubies, once Nigeria’s foremost digital bank, is back! During its operations which came to an abrupt halt in 2021, the 180,000 customer-strong digital financial powerhouse, with a daily transaction portfolio of 1.5 billion Naira, handled personalized banking services and merchant-collections so seamlessly that it became an industry reference point.

But the unthinkable happened on February 2, 2021, the digital bank was abruptly (without any communication) disconnected from the interbank ecosystem, thus compelling it to refund more than 30 billion Naira on that faithful day to its customers, who were as shocked as the bank’s founders and employees over the inexplicable development.

The shockwaves rocked the general public as the bank’s loyal customers expressed deep concerns on both mainstream and social media. In the words of the digital bank’s CEO, Aliu Muibi-Hammed, “It was so bad that we couldn’t explain what was happening to the general public. We were burning but could not shout for public intervention or legal help. It was that bad.”

Understandably, it was even difficult to extract explanations from the bank’s founders as they couldn’t tell the general public exactly what was going on at that time. Primarily, they were more concerned with ensuring that every customer got his/her money back.

Well, we had no option but to wait it out and simply present our case again when the time was right. To God be the glory that it didn’t take too long for us to get justice,” says the CEO, Aliu.

Barely three years since that most-unfortunate development, Rubies, once the toast of digital banking, is now back with added freshness.

With the highly acclaimed beta version of its new banking application, the new theme of the digital bank is “SEND MONEY JUST LIKE YOU SEND DIGITAL MESSAGES”. And, according to the CEO, “There is more to come, hence our esteemed customers are advised to watch out!”

For more information about Rubies visit their website:

Download the new Rubies app, Via:

Get the best African tech newsletters in your inbox