FINTECH AFRICA | Carbon CEO Announces Shut-Down of Debit Card Operations in Nigeria

BitKE · 2026-04-01T23:50:53+00:00

Nigerian fintech Carbon has discontinued its debit card services two years post-launch. Co-Founder Ngozi Dozie expresses uncertainty about the strategy of neobanks pushing card services, questioning if it was wise for all involved or just a matter of bad luck for Carbon.

BitKE

2026-04-01 23:50:53

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Nigerian fintech company, Carbon, has shut down its debit card operations in Nigeria two years after its launch

According to Carbon’s Co-Founder and CEO, Ngozi Dozie, he was now not sure why all neobanks are introducing cards.

“When I take a step back with the benefit of hindsight (and a card operation bill denominated in USD $), I question why practically all neobanks are pushing cards or even getting into it. Was this the right strategy for ALL of us, or was Carbon just unlucky?” Dozie wrote in Substack.

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