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Leo Stan Ekeh – the Iconic ICT Entrepreneur @ 65

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The man, Leo Stan Ekeh arguably Nigeria’s foremost tech guru and serial digital entrepreneur has championed many firsts in the Nigerian ICT sector.

Leo Stan Ekeh

Mr. Ekeh is the Chairman of Zinox Group, Sub-Saharan Africa’s biggest integrated technology conglomerate which includes viable concerns such as Zinox Technologies Limited, Task Systems Ltd., Technology Distributions Limited (TD Africa) and TD Mobile, among others, through which he deployed some of the biggest ICT projects on the continent.

Mr. Ekeh has also inspired several generations of budding entrepreneurs and startups, many of whom are currently disrupting the technology space in Nigeria and beyond.

On the Nigeria’s Independence anniversary on October 1st 2001, Ekeh enjoyed the rare privilege of being honoured as an Icon of Hope by former President, Chief Olusegun Obasanjo for his sustained pioneering efforts in the area of Information Technology and also as a pride to modern Nigeria.

His ground breaking strides in the Nigerian technology ecosystem recorded another major achievement in 2018 when he made a bold return to e-Commerce (a vertical he pioneered in Africa many years ago through BuyRight Africa Dotcom) with the addition of Konga after acquiring the company from previous majority investors, Naspers and AB Kinnevik.

Barely two years after its acquisition, Ekeh transformed the composite e-Commerce giant into Nigeria’s leading player, with the brand on the cusp of dominating Africa’s biggest market and making inroads into other neighbouring African markets.

Today, this Icon of ICT in Nigeria turned 65 years old, born on February 22, 1956 in Ubomiri Mbaitoli, Imo State to a middle-class family with three brothers and two sisters.

He attended Holy Ghost College, Owerri for his secondary education, after which he went to India for his university education, where he received a Bachelor of Science degree in economics from Punjab University.

Ekeh, however, believes that studying in India was a great turning point in his life, according to him, he found the Indian economy a realistic economy.”

In addition, he is a Global Advisor to Microsoft. He also holds a Post Graduate Degree in Risk Management from Nottingham University, England.

Ekeh equally holds several honorary doctorate degrees from highly respected universities for his enviable record of incisive entrepreneurship and pioneering efforts in the field of Information Technology.

Leo Stan as he is popularly known is a renowned digital democrat and philanthropist has also quietly touched so many lives through the Leo Stan Foundation – his personal foundation.

Among these are charitable works such as donation of N100m to Internally Displaced Persons (IDPs) in the North-East, donation of N50m to victims of the demolished Eke-Ukwu market in Imo State, scholarships to hundreds of indigent students across Nigeria to study both at home and abroad, as well as the set-up of a N1.5bn revolving loan scheme for disadvantaged students and entrepreneurs of Imo origin, among several others.

Furthermore, Ekeh has silently invested in education, provided Medicare to the needy and supported churches and other religious organizations through the Foundation.

During the lockdown occasioned by the COVID-19 pandemic, the Leo Stan Foundation leveraged on staff of the various companies in the Zinox Group to feed over 7000 families across Nigeria for two weeks. He has also regularly supported state governments in Imo, Lagos and other parts of the country through the donations of patrol vehicles to improve security, among other donations.

Indeed, the story of Ekeh’s legendary strides is one of many firsts amid a series of landmark achievements in his chosen field of Information and Communications Technology.

He pioneered Desktop Publishing and Computer Graphics in Nigeria in 1987 with his first Company – Task Systems Ltd.

In addition, Mr. Ekeh launched the first ICT support Company in Nigeria – ITEC Solutions Ltd.

More so, he pioneered the deployment of digital dispensing pumps for petrol and gas stations in Nigeria in partnership with Elf Oil (now Total Plc.) after he was cheated by an attendant at a fuel station.

He also pioneered ICT Distribution in West Africa with the launch of Technology Distributions Ltd. (today known as TD Africa) which has remained the biggest technology, lifestyle and cutting-edge solution distributors in the West African sub-region.

Furthermore, Ekeh holds the rare status of manufacturing the first internationally certified computer brand in Sub-Saharan Africa: Zinox Computers.

Equally, the biometric digital revolution in Nigeria can be attributed to Mr. Ekeh after he singlehandedly delivered to the Independent National Electoral Commission (INEC) data capturing machine for voters’ registration when foreign contractors could not deliver after months of promises.

Four years later, he again supervised the biggest single ICT digital rollout in Africa with INEC in 2010 valued back then at over $170m, as well as the largest single e-Library and Wireless Cloud rollout project on the continent through one of his companies – Zinox Technologies Ltd.

Today, Ekeh’s contributions and sterling work with INEC have gone a long way in giving Nigeria a credible database of voters and reduced post-election litigations by over 45 per cent.

Mr. Ekeh has also been involved with companies such as ICT Brokers, TD Plus, ICT Connect and, as earlier stated, the launch of Africa’s first ever e-commerce outfit, Buyright AFRICA Dotcom.

A major advocate of digital literacy for all, Ekeh holds the enviable record of donating cutting-edge and well-equipped digital centres to several secondary and tertiary institutions in Nigeria.

Significantly, Ekeh’s Zinox Group pioneered the unheralded but highly commendable practice of paternity leave in Nigeria to reduce stress on young male staff and enable them to support their spouses when they welcome a new baby.

The tech enthusiast is one of the foremost champions of gender equality in Nigeria. He has consistently advocated for and also empowered women and the girl child, whom he regularly addresses and challenges to aspire to greatness at various public events and fora.

His passion for gender equality can be seen at first hand in the Zinox Group where women, led by his wife, Mrs. Chioma Ekeh, occupy the first four executive management positions at TD Africa, the biggest company by revenue in the Group. Also, he had recently appointed another female as Managing Director of Zinox. The Group’s Human Resources Unit is also headed by a female.

Mr. Ekeh’s unerring zeal for productivity and excellence was recently rewarded by the current administration of President Muhammadu Buhari with the National Productivity Merit Award (NPOM) in November 2019.

A distinguished member of the Nigeria Economic Summit Group and Fellow of the Nigeria Computer Society, Ekeh is a recipient of one of the country’s highest National Honours – Order of The Federal Republic (OFR).

Applauded by professionals as a global digital giant and a man whose vision and performance shore up credibility for the indigenous capacities in the ICT sector, Leo Stan Ekeh’s unmatched interventions have seen him receive over 60 local and international awards. He has also served on a good number of Federal Government Committees, which includes the Presidential Committee for Job Creation, Nigeria Thinkers, ICT Roadmap, among many others.

He is happily married to Mrs. Ekeh, a Mathematician, Fellow of the Association of Chartered Certified Accountants (ACCA) and CEO of TD Africa.

The union is blessed with successful children.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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NFIU Seeks Advanced Technology to Combat Financial Crimes in Nigeria

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The Nigerian Financial Intelligence Unit (NFIU) is ramping up efforts to combat financial crimes through advanced technology and enhanced collaboration as part of its drive to remove Nigeria from the Financial Action Task Force (FATF) grey list.

Speaking at a high-level conference organized in partnership with the London Stock Exchange Group (LSEG) Risk Intelligence, in Lagos on Thursday, NFIU’s General Counsel, Felix Obiamalu, revealed that the agency had established a special unit, “Emerging Technologies and Innovations sector” dedicated to integrating cutting-edge tools into its operations.

Obiamalu explained that the NFIU was automating processes and developing software to monitor and track financial crimes. “Criminals continuously exploit gaps in the system, but we are upgrading our capabilities and working with global software developers to stay ahead,” he said.

“The LSEG Risk Intelligence also have sophisticated technology tools that we can also leverage on to combat these financial crimes. That is the essence of such collaborations as the fight cannot be won in isolation,” he added, highlighting the role of partnerships in addressing the nation’s anti-money laundering and counter-financing of terrorism (AML/CFT) challenges.

Since being greylisted in February 2023 due to deficiencies identified during FATF’s mutual evaluation process, Obiamalu stressed that relevant stakeholders were working relentlessly.

“This conference is part of efforts to improve interagency cooperation, enhance information sharing, and ultimately build a sustainable AML/CFT framework,” he said, noting that the focus is not only on exiting the grey list but also on creating a system that can effectively address future challenges.

Che Sidanius, the Global Head of Financial Crime at the London Stock Exchange Group, highlighted the broader economic implications of Nigeria’s greylisting. “Being greylisted has a significant impact on foreign direct investment and how Nigeria is perceived internationally.

However, the commitment from both the government and private sector to address these challenges is clear, and that is the first and most critical step,” Sidanius remarked. He emphasized the need for capacity building, robust data utilization, and actionable strategies to strengthen existing frameworks.

The Chief Executive Officer of the NFIU, Hafsat Bakari, earlier in her address stressed that a coordinated approach is vital for success. “No single organization, public or private, can tackle the myriad financial crime challenges we face in isolation. Only through structured cooperation can we succeed,” she said.

Bakari pointed to the Bank Verification Number (BVN) initiative, partnership between the Central Bank of Nigeria (CBN) and commercial banks among other measures as an effective example of PPPs bolstering Nigeria’s AML/CFT framework.

“We, at the NFIU, recognize that gatekeepers in the financial and designated non-financial sectors are often the first to become aware of emerging trends and typologies. They have a wealth of intelligence and information that can contribute to more effective law enforcement responses across a variety of predicate crimes.

“It is therefore critical that we ensure a properly joined up approach, and this is reflected as a priority in our National AML/CFT/CPF Strategy. Therefore, our gathering today could not have come at a better time,” she added.


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LASAA Enhances Operations with New Porta Cabin Offices in Lagos

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Lagos State Signage and Advertisement Agency (LASAA) has launched new porta cabin offices located in Badagry Local Government Secretariat, Ikorodu Local Government Secretariat, Lagos Television premises and LASAA warehouse.

L-R: The General Manager, Radio Lagos, Mr Olajide Lawal; Head of Project Coordination and Local Government Affairs, Lagos State Signage and Advertisement Agency (LASAA), Mrs. Abimbola Odunmbaku; Managing Director/CEO, LASAA, Prince Fatiu Akiolu; Permanent Secretary, Lagos State Ministry of Information and Strategy, Mr Olumide Sogunle; Director of Administration and Human Resource, Lagos Television, Mrs. Oluwatoyin Ayanbadejo; Senior Special Assistant to the Governor of Lagos State on LASAA, Hon. Kunle Dabiri; and Deputy General Manager, Operations and Innovations, Mr Gbolahan Dixon during the Agency’s commissioning of new offices (porta cabins) for operational expansion in Lagos recently.

This initiative aims to bring the Agency closer to its many clients and improve the regulation of outdoor advertising landscape, ultimately optimizing revenue generation for the State.

Speaking at the launching of the new offices, the Managing Director/CEO of the Agency, Prince Fatiu Akiolu said they are extensions of the Agency’s branches across the State.

According to him, “The porta cabins launched are not just physical structures, they represent our ongoing commitment to enhancing the efficiency and effectiveness of our operations.”

The MD explained that, with the rapid growth of our city and the increase in the formation of businesses, Lagos has become a dynamic hub for innovation and creativity, and with that comes the need for sophisticated solutions to manage our operations better to meet the rise in the display of business signs in the State.

In his words, “Strategically situating the offices is important to the Lagos State Government for revenue optimization as it will impact positively on the development of the State, as we demonstrate our support for Mr Governor, Mr Babajide Sanwoolu towards actualizing a much greater Lagos.”

He further explained that, “It has become necessary for the Agency to provide these decent portal cabins for the convenience of our staff members and by extension, for our revered walk-in clients who visit to register their business signs and make relevant enquiries.”

He averred that, “These portal cabins symbolize a major step forward in our operations at LASAA. The provisions reflect our dedication to embracing innovation and modernization to improve our service delivery. With these new facilities, we are not just upgrading our operational capabilities; we are also ensuring that our processes are more efficient, accessible, and transparent. Each facility is fitted with air-conditioners, computers, tables, chairs, bathrooms, and kitchens,” Prince Fatiu stated.

Also speaking, the Deputy General Manager, Operations and Innovations of LASAA, Mr Adegbolahan Dixon made it known that it has become imperative to open new porta cabin offices to complement the existing ones as some local governments in the State do not have spaces where they can construct new office buildings.

According to him, “We decided to approach some sister agencies with spaces within their premises to set up the porta cabin offices to reach more clients.”

He said that, “The overriding idea is to be close to our existing and potential customers instead of them going to our head office to transact business. With these offices that are close to them, they can interface with our members of staff who will guide them on how to register and obtain permits for their business signs.”

Dixon also revealed that the Agency has opened a good number of the offices this year which are effectively serving a purpose and that more will be opened for operational expansion next year.

The Lagos State Signage and Advertisement Agency (LASAA) was established by the Lagos State Structures for Signage and Advertisement Agency Law, 2006 and the Amendment, thereto is responsible for regulating and controlling outdoor advertising and signage displays in Lagos State.

In its commitment to excellence, the Agency plays a crucial role in shaping the visual landscape of Lagos through effective regulation and innovative solutions.


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Electricity Subsidy Soars to ₦2.4 Trillion Despite Tariff Reforms

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Federal Government’s electricity subsidy has surged by 269%, rising from ₦650 billion in 2023 to an estimated ₦2.4 trillion in 2024.

This increase comes despite the implementation of the Band A tariff service category in April, which was expected to reduce subsidy obligations by ₦1.14 trillion.

Dr Yusuf Ali, Commissioner for Planning, Research, and Strategy at the Nigerian Electricity Regulatory Commission (NERC), revealed this during a presentation at PwC’s Annual Power and Utilities Roundtable in Lagos on Friday.

Speaking on “Reigniting Hope in Nigeria’s Electric Power Sector,” Dr Ali noted that macroeconomic shocks, particularly foreign exchange instability, have driven cost-reflective tariffs up by 118% between 2023 and 2024, contributing to the steep rise in subsidies.

“So right now, the best estimate that we have for 2024 is that the cumulative subsidy for the year will be ₦2.4 trillion,” Dr. Ali said.

He explained that while the government aimed to significantly reduce subsidies through tariff increases in April 2024, the challenging macroeconomic environment has hindered tariff payments.

“Without the tariff reforms implemented between 2020 and 2023, annual subsidies would have risen significantly, especially amidst the macroeconomic shocks of the past 20 months,” he added.

Minister of Power, Chief Adebayo Adelabu, represented by his Chief Technical Assistant, Adedayo Olowoniyi, highlighted the government’s efforts to address the challenges in the power sector. He emphasized that the current administration, under President Bola Ahmed Tinubu, recognizes energy as critical to economic growth and job creation.

“To ensure the sustainability of the energy sector, the Federal Government of Nigeria has implemented a multi-pronged approach spanning across legislation with the enactment of the Electricity Act 2023, policy framework with the development of an Integrated National Electricity Policy, and infrastructure development programmes to expedite expansion,” he said.

The minister outlined additional strategies, including leveraging bilateral funding, commercializing the sector to enhance viability, and collaborating with development partners to address bottlenecks in the Nigerian Electricity Supply Industry value chain.

“Our successes have not been without challenges. We have recorded frequent grid disturbances and dips in supply levels due to ageing infrastructure, resource limitations, capacity inadequacies, and consistent vandalism of transmission networks,” he noted.

To address these issues, the government has implemented short-term measures, such as enhancing maintenance plans for critical substations, replacing outdated equipment, and conducting data-driven analysis to prevent disruptions.

“For long-term strategies, we are finalizing plans for a super grid project to establish a more robust and resilient grid system,” the minister added. He concluded by emphasizing the importance of innovation, collaboration, and bold ideas to restore confidence in the sector.

“Today’s theme reminds us that hope is not a passive sentiment but an active commitment. We must continue to innovate and implement bold ideas to deliver an energy future where every Nigerian has access to reliable, affordable, and sustainable power.”


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