Patricia Technologies Limited has announced the relocation of its operations to the Republic of Estonia, as announced in a press release by TechCabal.
The company was formerly based in Lekki, Lagos, and began in 2018 with the goal of revolutionizing the Nigerian financial space. It has provided numerous services ranging from buying and selling digital currencies such as the Bitcoin, unused card gifts and other virtual currencies.
According to the startup, the move is in response to the ban on crypto trading by the Nigerian Government as well as the company’s global expansion plan.
According to CEO and Founder, Hanu Fejiro Agbodje in an official statement said, “What originally came as disastrous news turned out to be the cornerstone we needed for this worldwide expansion”. He was referring to the crypto ban by Nigeria’s apex bank, the Central Bank of Nigeria (CBN).
Recall that on the 5th of February, the Central Bank of Nigeria issued a directive ban cryptocurrency transaction in the country, terming it as unstable as it had no financial banking of any sort.
Its new headquarters of operations, Estonia is one of the least populated countries in the world with about 1.5 million people but is said to be one of the world’s most technologically advanced countries.
This is largely due to the efforts the Estonian Government made in 1990’s to reform the country and turn it into a digital society.
In their press release, Hanu expressed optimism over the relocation of its headquarters stating that the forced expansion of the company will strengthen their relationship with marketers and agencies in the global crypto markets while positioning the lead of crypto company in Nigeria, Africa and Europe.
The Fintech Company has employed hundreds of Nigerian graduates over the years and has already established its presence in Ghana, South Africa and China.
Patricia Technologies is one of the 2021 official sponsors of Africa’s biggest reality show, Big Brother Naija.