We have some exciting news to share: Cyphalet has expanded its Nigerian banking network, adding four new banking partners to our NGN collection infrastructure. The result? Faster deposits, broader coverage, and a more reliable experience for every user, regardless of which Nigerian bank they use.
What This Means for You
Before this update, some Cyphalet users experienced occasional delays when depositing from certain Nigerian banks — particularly smaller or newer institutions. With our expanded partner network, we've significantly reduced those delays.
Here's what you can expect now:
- Faster settlement: NGN deposits from all major Nigerian banks now target sub-30-second reflection in your Cyphalet wallet.
- Broader bank support: More Nigerian banks are now directly integrated into our collection network, reducing reliance on intermediary processing.
- Improved reliability: With redundancy built into our partner network, a technical issue at one bank doesn't affect your ability to deposit via another.
How We Got Here
Since launch, deposit speed has been our number one user request. Our engineering and partnerships teams have spent months negotiating direct integrations with additional CBN-regulated institutions, building the technical connections required, and running rigorous testing before making these live.
"Our users told us deposit speed was their biggest frustration. We listened. These new partnerships are the direct result of that feedback — and this is just the beginning."— Emeka Okonkwo, Co-Founder & CEO, Cyphalet
What's Next
We're not stopping here. Our partnerships team is in active discussions with additional institutions, and we're building toward a future where any bank transfer to Cyphalet — regardless of the sending institution — settles in under 10 seconds.
We're also working on deposit limit increases for fully verified accounts, and improved notifications so you always know the moment your deposit lands.
🏦 Already a user? No action needed on your end. The faster deposit speeds are live automatically for all Cyphalet accounts. Just deposit as normal and enjoy the speed improvement.
As always, if you have feedback or experience any issues with deposits, our support team is available through the Contact page. We read every message.