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General News

Andela to Solve Problems of Future of Work with EPIC Remote Hackathon

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Andela, the global marketplace for remote technical talent, has opened applications for its upcoming EPIC Tournament. In partnership with HackerEarth, the tournament will see elite developers working in teams to prototype solutions that will positively impact the growing global remote workforce.

Participants can be located anywhere in the world but must choose a country to represent within the 4 different regions: America, Europe, Middle East Africa, or Asia-Pacific.

In line with Andela’s focus on helping companies build remote engineering teams, coders will be hacking and designing products that will help solve the problems of the future of work.

Consisting of two rounds, teams or individuals will first participate in the EPIC Coding Challenge, where they will be assessed on their coding abilities. The 3-hour challenge will see participants code their way up to the leaderboard.

A shortlist of 16 teams [four from each region] will get exclusive access to the EPIC Remote Worker Hackathon starting November 28, 2022, where they will spend ten days working on their hack ahead of presenting their solution to a panel of judges.

Participants’ final work will be judged based on their problem-solving and product-building skills, as well as Andela’s EPIC values. They’re encouraged to be:

  • Excellent in their various stacks
  • Passionate about their idea/solution which they will be presented
  • To show Integrity and honesty when showcasing the solutions they will be providing
  • And to Collaborate to win against the other teams in the competition

The teams with the top three strongest solutions in terms of Creativity, Impact, Feasibility, and Scalability will be awarded prizes worth $10,000 in cash and swags from Andela and partners.

Speaking about the hackathon, Michael Starkenburg, Chief Product and Technology Officer, says: “Through the EPIC tournament, we are creating an experience that will help developers across the world to test their skills and collaborate with others while potentially developing meaningful solutions to positively impact the growing number of remote workers around the world. Hackathons encourage participants to tap into their creativity, and we look forward to the creative solutions technologists will come up with.”

In recent years, the mainstream adoption of remote work has seen exponential growth, with 56% of global companies allowing remote work, while 16% of global companies are fully remote, according to an Owl Labs study. The hackathon will inspire solutions that can power the future of remote work globally.

Discussing the tournament, Carlos Carrascal, Senior Marketing Manager for Talent at Andela, says: “Talent exists all over the globe. Technology is creating more diverse and inclusive opportunities today than ever before – it doesn’t matter where you were born, where you live, your age, or your gender.

“At Andela, we created the EPIC tournament as a space for engineers to showcase their skills, represent their country, have fun, and be part of the best team in their region – and the world.”

Launched in 2014, Andela helps companies such as GitHub, Goldman Sachs, and Cloudflare build remote engineering teams by providing them with access to the world’s best software engineers. Today, the Andela network represents engineering talent from over 100 countries.

Applications will close on November 26 2022, with the shortlisted teams evaluated at the live-streamed finale and award ceremony on December 13th, 2022.


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General News

NITDA Inaugurates Start-up Consultative Forum

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Nigeria has taken a bold step toward deepening its innovation ecosystem with the official launch of the Start-up Consultative Forum, an initiative designed to accelerate the implementation of the Nigeria Start-up Act (NSA) and strengthen the country’s tech startup ecosystem.

While addressing the forum, NITDA’s Director General, Kashifu Inuwa CCIE, who was represented by Barrister Emmanuel Edet, the Ag. Director, Regulation and Compliance described the platform as more than just a stakeholder meeting.

“It is a commitment to building a stronger tech ecosystem through collaboration, inclusion, and data-driven governance, marking a new phase in the implementation of the Nigeria Startup Act,” he said.

He noted that the Nigeria Startup Act is more than legislation—it is a framework for national development. “Startups are not fringe players. They are central to Nigeria’s economic future,” he asserted.

Inuwa further mentioned that over the past eight months, NITDA has driven key activities under the Act. These include stakeholder workshops across 10 states, roadshows at tech events like Lagos Tech Week, the Omniverse Summit, Moonlight Conference and the Akwa Ibom Tech Week, and awareness campaigns through digital and direct engagement.

The forum, according to Inuwa, will serve as a feedback engine, spotlighting regulatory gaps, guiding policy improvements, and shaping a startup-friendly environment.

Under the Renewed Hope Agenda and the guidance of the Federal Ministry of Communications, Innovation and Digital Economy, NITDA continues to support startups through initiatives like the Startup Portal, tech infrastructure deployment, and digital skill training across the country.

The DG emphasised that for startups to thrive, policies must be inclusive and responsive. “Inclusion is not charity. It is a strategy,” he said, calling for equal representation across gender, region, and sector.

While inaugurating the members if the Conservative Forum on behalf of the Director-General, the Director of IT Infrastructure Solutions, Oladejo Olawunmi, ignited the forum with a call to action, envisioning it as a vital nexus for collaborative breakthroughs.

He inspired the members, saying, “We remain deeply committed to nurturing a space where innovation can flourish, and I call upon each of us to embrace the task ahead by shaping ideas into concrete policy and outcomes that leave a lasting impact.”

Earlier, Victoria Fabunmi, National Coordinator of the Office for Nigerian Digital Innovation (ONDI), in her opening address called the Forum, a “structured dialogue between those building the future and those enabling it.”

She outlined five key pillars for success: access to funding, capacity building, supportive policy, inclusive innovation, and global competitiveness.

She urged startups to speak boldly, private sector players to offer more than capital, development partners to scale what works, and government to harmonize efforts. “This Forum must be a problem-solving platform, not another talk shop,” she concluded.

With the Startup Consultative Forum now launched, NITDA aims to turn policy into action, ensuring startups are no longer on the sidelines, but at the center of Nigeria’s innovation journey.

The virtual event was attended by private sector players, development agencies, verified Ecosystem Support Organisations (ESOs), angel investors, venture capital firms, and labelled startups from across the country.


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General News

NFIU Alerts Nigerians of Rising Ponzi Schemes, Unregulated Crowdfunding Scams

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The Nigerian Financial Intelligence Unit (NFIU) issued a detailed advisory on yesterday, warning Nigerians about the growing threat of Ponzi schemes and unregulated crowdfunding scams, particularly in digital assets, agriculture, and real estate.

These sophisticated scams, often disguised under appealing brand names, promise unrealistically high returns, exploiting vulnerable citizens facing economic hardship between 2022 and 2025.

Digital asset scams, like Crypto Bridge Exchange (CBEX) and Chinmark Group, leverage cryptocurrencies’ anonymity and limited regulation. CBEX, promising 100% returns in 30 days, collapsed with over ₦1.3 trillion in losses, using blockchain to obscure funds.

Chinmark, posing as a conglomerate, defrauded investors of over ₦10 billion via social media and religious endorsements. “We are committed to saving Nigerians from the troubles associated with Ponzi schemes,” the NFIU stated, pledging to pursue major actors.

Agricultural Ponzi schemes, such as Farmforte Ltd and Green Eagles Agribusiness, promise unsustainable farming returns, with one Lagos operator collapsing after processing ₦400 million with 16% monthly return pledges. Red flags include guaranteed high returns, unlicensed operations, and reliance on referrals.

The Investment and Securities Act (ISA) 2025 imposes fines of ₦20 million and up to 10 years’ imprisonment for promoting Ponzi schemes, empowering the Securities and Exchange Commission (SEC) to regulate digital assets. The NFIU urged licensing for Virtual Asset Service Providers, advanced fraud detection, and stronger KYC/AML compliance by financial institutions.

It advised the public to verify platforms with the SEC, question return mechanisms, and report suspicious schemes promptly.


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UK’s Manufacturing Africa and TLG Capital Join Forces to Boost Nigerian Manufacturing

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L-R: Director, Head of International Affairs, BPI France, Isabelle Bebear; Swedfund Regional Director for West Africa, Kitanha Toure; British Deputy High Commissioner in Lagos, Mr. Jonny Baxter; Co-founder & CEO of TLG Capital, Zain Latif and IFC World Bank Group, Regional Industry Manager, Alexandra Celestin at the signing ceremony today in Lagos.
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The UK’s Manufacturing Africa programme has formed a strategic partnership with investment firm TLG Capital to enhance funding opportunities for Nigeria’s manufacturing sector.

L-R: Director, Head of International Affairs, BPI France, Isabelle Bebear; Swedfund Regional Director for West Africa, Kitanha Toure; British Deputy High Commissioner in Lagos, Mr. Jonny Baxter; Co-founder & CEO of TLG Capital, Zain Latif and IFC World Bank Group, Regional Industry Manager, Alexandra Celestin at the signing ceremony today in Lagos.

This collaboration aims to strengthen Nigerian businesses’ eligibility for financing through Africa Growth Impact Fund II (AGIF II), which has raised $75 million towards its $200 million target.

Supported by the World Bank’s International Finance Corporation (IFC), Swedfund, Norfund, and Bpifrance, the fund seeks to channel capital into promising manufacturing businesses across Nigeria.

Manufacturing Africa will assist companies with due diligence, corporate finance, ESG compliance, gender inclusion, and operational improvements, ensuring they meet investment criteria.

One of the first beneficiaries of this initiative is Terra Aqua, an aluminium recycling company in Ogun State. Terra Aqua is set to receive $7.5 million in debt financing from TLG Capital, contingent on meeting environmental, social, and governance (ESG) benchmarks.

If successful, this deal could create 200 direct jobs and 752 indirect jobs, while utilizing a recycling process that consumes 95% less energy than producing primary aluminium.

Since its launch in 2020, Manufacturing Africa has supported 41 investment deals in Nigeria, aiming to secure over $1 billion in foreign direct investment and create 38,000 direct jobs. Across Africa, the programme has facilitated nearly $2.4 billion in investment, leading to 102,000 new jobs.

UK Deputy High Commissioner Jonny Baxter emphasized the importance of a robust manufacturing sector in driving Nigeria’s economic growth.

Manufacturing Africa’s Team Leader, Thomas Pascoe, highlighted the development potential in African manufacturing, while TLG Capital Co-Founder, Isha Doshi, underscored AGIF II’s goal of providing flexible, strategic financing tailored to the African business landscape.

This initiative is set to accelerate industrial growth, create jobs, and position Nigerian manufacturers as viable investment opportunities.


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