Nigeria, April 14 -- Paystack, a well-known Nigerian financial tech company, is facing a serious issue after launching a new product called Zap.

The product was introduced to the public on March 24, 2025, during a company event where Paystack's CEO, Shola Akinlade, demonstrated how it works.

According to the company, Zap was created to help people send money quickly and safely.

But shortly after its launch, things started to go wrong.

Another startup, Zap Africa, quickly reacted on social media, claiming to be the original and only brand with the name "Zap" in Nigeria and across Africa.

This triggered public concerns about a possible trademark clash and raised questions about whether the Central Bank of Nigeria (CBN) had approved the...