NASENI SPENN is a joint venture between the Nigerian National Agency for Science and Engineering Infrastructure (NASENI) and SPENN Technology, established to deliver a co-branded disbursement tool and consumer app specifically for salaries, pension payouts, social intervention, manufacturing, development finance schemes, funding of the Federal Government of Nigeria, development partners and sub-national governments. SPENN Technology is the majority owner in the 70:30 joint venture. NASENI-SPENN has begun testing out salary disbursements for NASENI directly as a way to verify the payment flows and gain valuable feedback directly from users of the NASENI SPENN mobile application.

Once testing concludes, the aim is to go live with salary disbursements. This will allow for NASENI to transfer salaries directly to employees as well as to targeted research for development grant beneficiary institutions, organizations and awardees. This is expected to significantly lower costs of transactions for NASENI while at the same time generate revenues to the coffers of Federal Government of Nigeria through NASENI.

At scale this will be a significant revenue for NASENI-SPENN and indirectly to the Federal Government of Nigeria, SPENN Nigeria and SPENN Technology, while providing financial inclusion, based on blockchain technology.