Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

General News

Digital Innovation: Nigerian Startups Woo Investors, Stand to Win $20,000 in Dubai

Published

on

Kindly share this post

Out of over 500 applications submitted by Nigerian startups, 40 made the shortlist and four emerged winners at the just concluded GITEX GLOBAL NORTHSTAR ROADSHOW STARTUP EVENT which is aimed at giving opportunities to indigenous startups to pitch their products and services and stand a chance to win $20,000 at the Gulf Information Technology Exhibition (GITEX) taking place in Dubai, United Arab Emirate this year.

Mr Victor Afolabi, founder Eko Innovation center; Mr Tunbosun Alake, Special adviser to the Lagos state Government on Innovation and Technology; Mr Abdulla Alqahtani, Head of visa and attestation section UAE consulate in Lagos; Dr. Aristotle, Director of corporate Research strategy, Dubai World Trade Centre; Ms Fatine Laaroussi Tribek, Executive secretary of the UAE consultate in Lagos; Mr Hamad Almansoori, Dubai World Trade Centre, Sales Manager- Govt liaison; Mr Zarko Ackovik, Director-commercial Events Management, Dubai World Trade Centre and Mr Akande Ojo, Country representative of the Dubai World trade centre at the GITEX Global Lagos pitch

The Dubai World Trade Centre (DWTC) will fully sponsor four startups out of the 10 that emerged tops to attend GITEX, which are the first and second place winners from Abuja and Lagos. While NITDA will sponsor the participation of the other six startups.

The Abuja section of the event which was hosted by the National Information Technology Development Agency (NITDA) through its subsidiary, Office for Nigeria Digital Innovation (ONDI) is organized by GITEX Global and North Star in collaboration with the UAE and DWTC for indigenous startups to pitch their products and services.

The startup event which took place in Abuja and Lagos on the 11th and 12th of May respectively had five winners for each location; for the Abuja event, in first place was, Floews an early warning system for floods.

It’s an all-around solution that monitors and forecasts data as a warning to the inhabitants of flood-prone regions; second place was Medtech Africa, a startup that is leveraging Artificial Intelligence and Applications to enable caregivers to treat and manage patients living with vitals of a cardiovascular Disease using the patient’s data and; third place was Powerstove, a zero carbon-emission stove with a faster cooking time, saves lives, generates electricity, improves livelihoods, empowers women, and preserves the environment.

Meanwhile, in Lagos, in first place was, PaddyCover Limited ,a multi-channel platform that facilitates flexible and convenient payment for insurance packages by working with established insurers and customer aggregators to design and offer bespoke products; in second place was TruQ, an application the assigns and connects you to the closest and best vehicle suited for your trip; in third place was Price Pally, it provides access to the best quality farm-fresh food items affordable for families and businesses living in Africa cities with utmost efficiency.

The DG NITDA Kashifu Inuwa while addressing participants at both events reiterated the Agency’s commitment to continually drive the implementation of the Digital Innovation and Entrepreneurship pillar of the NITDA Strategic Roadmap and Action Plan (SRAP 2021-2024).

The NITDA boss who was represented by Dr. Aristotle Onumo said “GITEX is a platform through which we expose our startups to gain the right kind of visibility and right kind of traction to attract prospective investors and venture capitalists.

Speaking at the event the Director of Commercial Event Management of North Star Mr. Zarko Ackovik said North Star which is part of GITEX is the largest startup event in the Middle East, Africa, and Asia.

He mentioned that Nigeria has one of the largest startup ecosystems in the whole of Africa, adding that “the show brings to them close to more than 400 investors they can meet and network with at the event and also allows them to go for a pitch competition.


Kindly share this post

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

General News

Wema Bank Plans N2M Grant to Empower Women

Published

on

Kindly share this post

Innovative financial institution and pioneer of Africa’s first fully digital bank, Wema Bank, has reaffirmed its commitment to advancing women’s empowerment by partnering with the SheCan Conference for the fifth consecutive year.

The collaboration has announced it would empower women with N2 million grant during the 6th edition of SheCan 6.0. conference, that will be held on July 18, 2025, at Balmoral, Federal Palace Hotel, Lagos.

The event is expected to host over 7,000 women under the theme “SheCan Do More.”

Announcing this partnership, Wema Bank through its women-focused platform, SARA by Wema, said it will be awarding ₦2 million in business grants to support women entrepreneurs within the SARA Community.

This grant is to support small and medium businesses within the SARA Community to scale up their business.

Ayodele Olojede, Head, Retail and SME Banking at Wema Bank, said, “Wema Bank is committed to empowering women entrepreneurs by providing the financial backing, tools, training, and networks they need to scale sustainably. Year after year, we’ve seen the incredible ripple effect that access, and opportunity can create in the lives of women and their communities.

“Through SARA by Wema, our goal is to create an environment where Nigerian women can dream bigger, build stronger, and lead the economy with confidence. This partnership with SheCan is a statement of belief in the power of women to transform society.”

“This year’s partnership represents more than sponsorship; it is a tangible investment in helping Nigerian women build sustainable businesses, scale their impact, and contribute meaningfully to economic growth.

“Eligible applicants must be women-led businesses with active Wema Bank accounts and must be registered members of the SARA Community.

“Interested participants are required to submit a written pitch of no more than two pages, detailing their business and founder story, the problem being solved, target audience and competitive advantage, proposed use of the grant, and the expected outcomes and community impact. Entries must also include the applicant’s Wema Bank account number, full name, and the email address used to join the SARA Community.”

 


Kindly share this post
Continue Reading

General News

Unlicensed Investment Firms Fall Hard in Lagos Court

Published

on

Kindly share this post

Justice D.I. Dipeolu of the Federal High Court in Ikoyi, Lagos, has convicted two companies, FARM360 Limited and MCBHADMOS Trans-Atlantic Trade Limited, for illegal capital market operations.

The Economic and Financial Crimes Commission (EFCC) disclosed that the companies were arraigned on June 16 by the Lagos Zonal Directorate 2 of the EFCC on a five-count charge for operating collective investment schemes without valid licences from either the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC).

The charges allege that between 2021 and 2022, the firms collected approximately N80 million from several investors but failed to refund the money or pay accrued interest. One of the counts stated that the companies operated without a valid licence to conduct investment management, violating Section 57 of the Banks and Other Financial Institutions Act 2020.

The companies pleaded not guilty, but EFCC investigator Nnadikwu Izuchukwu Collins presented evidence that included a petition from investors who claimed the firms promised high returns through agricultural and forex trading investments. The petition revealed the group invested a total of N93 million.

Investigations showed neither FARM360 nor MCBHADMOS held the necessary licences from the SEC or CBN. A Fidelity Bank statement revealed that the N80 million received was used for personal purposes. The directors of both companies remain at large, with efforts underway to apprehend them.

The prosecution submitted bank statements, the investor petition, and official correspondence with the CAC, CBN, and SEC as evidence, all of which were admitted by Justice Dipeolu.

The court convicted both companies on all counts and imposed fines of N5 million per count.

In a related case, the court also convicted Quintessential Investment Company Limited for similar illegal capital market activities, following its arraignment on two counts of operating collective investment schemes without CBN approval.


Kindly share this post
Continue Reading

General News

Burna Boy Distances Himself from Meme Coin, Labels Crypto as Fraud

Published

on

Kindly share this post

Burna Boy, Grammy-winning Nigerian artist, has publicly distanced himself from a meme coin circulating online that falsely uses his name and image for promotion.

Burna Boy Distances Himself from Meme Coin, Labels Crypto as Fraud

Burna Boy

In a statement shared via Instagram, the Afrobeats star made it clear that he has no involvement in any cryptocurrency ventures, describing such schemes as fraudulent.

His comments come amid growing traction of a meme coin allegedly linked to him, which has been circulating on social media platform X (formerly Twitter).

“I don’t do any internet ‘coin’ business. I see it as fraud and I have no interest in any of that,” Burna Boy wrote. “So if you see anyone using my name for such, please disregard or report them.”

The singer urged fans to remain vigilant and to report anyone promoting the crypto project under false pretenses.


Kindly share this post
Continue Reading

Trending