Telecom
Monieworx Enables 3 SMEs Raise N100M in 10 days through Regulation Crowdfunding, Nigeria’s First

Alternative Finance Limited (Obelix), Nigeria’s SEC-regulated Crowdfunding Intermediary, on Wednesday announced that it has fundraised N100 million from 9,324 registered small-ticket retail investors for 3 promising small and medium enterprises in just 10 days, thus successfully pioneering an alternative way of raising badly-needed cash for SMEs operating in Nigeria.
The investors were wholly from its waitlist of 42,545 early adopters. The average investment in the Private Notes was N10,725 with the smallest and biggest tickets being N1,200 and N20,000 respectively. The longest duration of the new asset class for individual investors is 90 days, with a fixed rate of 12% p.a.
Formal SMEs number 40 million in Nigeria, contribute 84% of total employment, 45% of GDP but just 8% of exports and tax collections by the Federal Inland Revenue Service (FIRS) according to a recent joint report by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the National Bureau of Statistics (NBS).
A total of 15 eligible applications to raise funds were considered by the company’s Screening Committee but only 3 of the SMEs were accepted by Obelix to utilise monieworx®, its registered Funding Portal, to embark on their crowdfunding campaigns. All the fundraisers have a good corporate governance record and are SMEDAN-registered. The 3 most promising small and medium enterprises that have their securities offerings hosted are, namely: Imose Technologies Limited, Alatiron Nigeria Limited and Q21 Solutions Limited.
According to a Formal MSME Finance Gap in Developing Countries report by the World Bank, the unmet financing needs of Nigeria’s formal SMEs is estimated at US$22 billion yearly. For context, total banking loans was US$66 billion as of December 31, 2022, giving SME loans an 8% share of the loan book.
The risk in this sub-sector is priced in the range of 28% to 35% p.a. Gaining access to finance is by far the biggest constraint to SME growth. Over 70% of the 40 million SMEs cited a lack of finance and access to financing as the main constraint to their business growth. Access to advisory services and access to markets weighed in at a distant second and third.
According to the Credit Bureau Association of Nigeria (CBAN), only four percent of the 40 million SMEs have access to credit from Nigerian banks. 80% of new SMEs in Nigeria thus die before their fifth year.
Obelix was able to onboard 42,545 users on monieworx®, over a 12-month period, through a combination of extensive community engagements to build a suitable “banking replacement”, and the first-of-its-kind early access programme (EAP) that nudges users to join a community or a group.
A surprising insight from its target audience poll of 100,000 people is that they are willing to invest in the absence of outsized financial returns. Specifically, when asked what they value most, regulated products (15%), small ticket sizes (13%), money-on-demand without a withdrawal penalty (12%), short-term securities (11%), weekly coupon payment (10%), Web3-first approach (10%) and Community Subscription Offer Plans (9%) had a combined response rate of 80%. Outsized returns (8%) ranked a distant eighth. On aggregate, individual investors are most interested in near-term liquidity (stacked up to 43% of the response rates).
According to McKinsey’s Global Private Markets Annual Review 2022, “private debt is an asset class for all seasons as evidenced by continued fundraising growth, making it the only private asset class to grow fundraising every year since 2011, including through the pandemic”.
“monieworx® has broadened participation in a very significant way”, said Lanre Showunmi, Director and Co-founder of Obelix. “Debt is the safety part in a portfolio, and we are on course to become the dominant portal through which small-ticket investors enter the debt capital market in keeping with our commitment to make investing fair, accessible, and inclusive”, he stated.
“SME financing is at an inflection point. We have been presented with a once-in-a-lifetime opportunity to win customer primacy and we intend to seize it with both hands”. Thus, Ali Yakubu-Concern, the Managing Director and CEO said, “owning alternative investments will become increasingly valuable”.
“It is said that regulation is how you cap risk”, said Titus Akintola, the Chief Compliance Officer. “This forms the building block in our plan to build a global layer of services for small and medium enterprises”, he continued. We aspire to adopt a safety-first approach in delivering on our “Better – Faster – Cheaper” service charter.
“This is a critical first step in our aspiration to build technology that can create a single Capital Market”, said Salvation Arinze, the Chief Technology Officer. “We are an innovative provider of online retail and SME financial and lifestyle services”.
“There is 100% custody of funds and investment contracts through an arrangement with First Bank, Nigeria’s oldest bank that is registered with Nigeria’s SEC to be a Custodian Bank”, said Abubakar Maibe, Director at Alatiron Nigeria. “This reinforces our confidence and lessens the administrative burden imposed on fundraisers by the Investment Crowdfunding Rules, 2021”.
“Debt crowdfunding presents us with a unique opportunity to access growth capital during this acute funding crunch leveraging alternate financing options that are non-dilutive and founder-friendly by design, on the one part and provides an incentive for the communities in which we operate to get involved through co-creation of value, on the other part”, said Osaretin Sule, the Chief Operating Officer at Imose Technologies Limited. “This way, the local economies become more resilient”.
“We went to Obelix first over our traditional banks”, said Eunice Adeyemi, the Creative Director at Q21 Solutions, “and this was a no-brainer because monieworx® hosted our debt-based securities with more favorable terms, lower interest rates, quicker approval times, and a simpler application process”.
Obelix is widely recognized as the poster child of regulation crowdfunding (Reg CF) and the SME-focused financier of first choice in Nigeria. Crowdfunding is proving itself as a financial solution that speaks to the largest numbers through its simplicity, its transparency, and the service it provides to the local economy and to projects that are meaningful for retail investors.
Telecom
NASENI, Nigerian Air Force Renew Strategic Partnership to Drive Indigenous Defense Technologies

National Agency for Science and Engineering Infrastructure (NASENI) and the Nigerian Air Force (NAF) have renewed their Memorandum of Understanding (MoU) to deepen collaboration on indigenous technology development, particularly in defense, aerospace, and infrastructure.
The event, which took place at NASENI Headquarters in Idu Industrial Layout, Abuja on 25th July 2025, was marked by a high-level visit led by the Chief of Air staff, Air Marshal Hasan Bala Abubakar alongside senior officers from the Nigerian Airforce. The team was received by the Executive Vice Chairman/CEO of NASENI, Mr. Khalil Suleiman Halilu, and his management team.
In his keynote remarks, the Air Marshal commended NASENI for its transformative work under Mr. Halilu’s leadership, particularly in reverse engineering, local manufacturing of engineering components, and consistent support to the Nigerian Air Force.
He specifically acknowledged NASENI’s contribution to the development of the C5 Rocket Project, highlighting the agency’s role in producing the rocket bodies and structural components, and in conducting precision material analysis.
He also applauded the establishment of the NASENI Northwest Technology Innovation Hub located at the Air Force Institute of Technology in Kaduna, describing it as a landmark project made possible through land support by NAF.
The Air Marshal noted that, Airforce is seeking greater inclusion in the governance and execution of the hub, given its role as host and technical contributor, also proposing that NASENI formally co-own the C5 Rocket Project, while urging the agency to continue leading the production of rocket body structures while exploring cost optimizations.
Furthermore, he invited NASENI to enroll its young researchers in newly developed R&D training modules at its Research and Development Institute. The request extends to a new area of partnership — capacity building in Computer Numerical Control (CNC) machining for Air Force technical personnel at NASENI’s Centre of Excellence.
Responding, NASENI EVC/CEO Mr. Khalil Suleman Halilu reaffirmed the agency’s commitment to the long-standing collaboration with the Air Force, describing it as both professional and personal.
“Our partnership with the Nigerian Air Force is one of our smoothest and most productive,” he said. “We’ve achieved so much together — from reverse-engineering projects to shared innovation hubs — and we are just getting started.”
Mr. Halilu showcased NASENI’s progress in Unmanned Aerial Vehicle (UAV) development, drone pilot training, asset recovery programs, and its world-class CNC machining infrastructure, inviting the Air Force to take advantage of all available resources and facilities.
He emphasized NASENI’s culture of private sector collaboration as a model for cost-effective implementation while maintaining inclusive access for public institutions such as the Air Force.
Highlighting the signing of the new MoU, Mr. Halilu said the updated agreement is designed to be more structured, result-driven, and aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda. It focuses on joint R&D, local manufacturing of aerospace and defense components, human capital development, and knowledge exchange.
“This partnership goes beyond paperwork,” Mr. Halilu noted. “It’s about building the future of Nigeria’s defense and innovation ecosystem together.”
The formal signing of the renewed MoU marked a new chapter in the strategic relationship between both institutions, setting the stage for the activation of joint action plans on the C5 Rocket Project, CNC training, defense manufacturing, and other innovation-driven initiatives.
Telecom
How Zabira is Empowering the Next Generation of Entrepreneurs

Financial independence is no longer a distant dream but a daily reality, especially for young entrepreneurs cashing out weekly through innovative platforms like Zabira.
From trading gift cards to paying bills with crypto-converted naira, Zabira is proving to be more than just a fintech app; it’s a complete digital marketplace designed to fuel the ambitions of the next generation of hustlers.
With users reportedly earning up to ₦150,000 weekly from ongoing campaigns, Zabira has become a go-to platform for side income and full-time digital entrepreneurship.
Its frequent cashback campaigns reward both new and existing users, allowing them to earn 2% cashback on their first crypto trade and 3% on their first gift card trade, a simple but powerful incentive that reduces entry barriers for young people stepping into digital finance.
But Zabira isn’t just about trading; it’s about everyday life. In a move to deepen its utility and promote seamless living, the platform has expanded its bill payment business unit. Users can now pay for airtime, data, electricity (PHCN), TV subscriptions, and even fund wallets for platforms like Bet9ja, all within the Zabira App.
Zabira allows users to make utility and other payments directly using crypto. For added flexibility, users can also instantly convert their crypto to naira, removing any limitations and ensuring seamless transactions without bank delays or downtime.
This subtle integration of crypto into daily transactions is a major leap forward in digital financial inclusion. It not only helps normalise the use of digital assets but also provides practical avenues for users to derive real-world value from their crypto holdings.
Zabira also understands the frustrations of online subscriptions, especially when traditional bank cards fail. Through its robust gift card marketplace, users can buy and use cards for platforms like Netflix, Spotify, Google Play, Apple, Amazon, and more.
These cards offer a reliable alternative for accessing services that are increasingly essential for both work and leisure and are especially helpful for digital creatives, remote workers, and students.
Beyond utility, the platform keeps the entrepreneurial spirit alive with bonus campaigns on first-time gift card trades, creating more reasons for users to engage and earn. With every trade, Zabira positions itself not just as a service provider but as a digital enabler supporting users on their financial journey.
In a country where access to financial tools can often feel like a privilege, Zabira is leveling the playing field. Whether you’re a student looking to subscribe to an online course, a freelancer paying for tools, or a small business owner funding your daily operations, Zabira is building the infrastructure that turns these goals into everyday wins.
To get started using Zabira, users can download the app on Android and iOS devices.
Telecom
MTN Media Innovation Programme Fellows Gain Insight into Nigeria’s Connectivity Backbone

Fellows of the MTN Media Innovation Programme (MIP) embarked on an intensive industry tour recently, gaining firsthand experience of MTN Nigeria’s infrastructure and learning how technology is shaping the future of connectivity and storytelling.

L-R: Dr Chike Mgbeadichie, Programs Director, Professional Education, School of Media and Communications, Pan-Atlantic University; Blessings Mosugu, Vice President, MTN Media Innovation Programme Cohort 4; Yahaya Ibrahim, Chief Technical Officer, MTN Nigeria; Rebecca Edun, Social Director, MTN MIP Cohort 4 and Isaac Ogugua-Ezechukwu, Programs Administrator, Professional Education, School of Media and Communications, Pan-Atlantic University, during the July session of the MTN Media Innovation Program held at the MTN Plaza, Ikoyi, recently.
The day began with a visit to the MTN Cable Landing Station, where the Fellows explored the facility that serves as a gateway for international data traffic. The tour provided insights into the network that powers Nigeria’s digital ecosystem.
At the MTN Switch in Aromire, the group observed key operations ensuring seamless connectivity across the country. They were guided through the processes that keep millions of Nigerians connected daily.
Later at MTN’s Head Office in Falomo, the Fellows engaged in two sessions with the company’s executives.
Onyinye Ikenna-Emeka, Chief Marketing Officer, discussed the role of 5G and IoT in driving innovation and storytelling in the media. “5G is not just about speed; it’s an enabler of experiences,” she said. “With ultra-low latency and massive device connectivity, we can deliver high-definition content production, virtual reality experiences and cloud-native workflows that redefine how journalists create and audiences consume media.”
The CMO also noted that MTN’s leadership in 5G since 2022 has opened doors for industries such as healthcare, education, and entertainment to innovate.
In a session on network innovation and digital transformation, MTN’s Chief Technical Officer, Yahaya Ibrahim, shared how the company is leveraging artificial intelligence for demand planning and network optimisation. “AI allows us to predict faults, automate maintenance and plan smarter for Nigeria’s unique needs,” he said.
He also highlighted the technical challenges of maintaining network stability. “From seamless handovers between base stations to combating fibre cuts and vandalism, we work around the clock because connectivity is critical to the economy and to people’s lives,” Ibrahim said.
The day provided Fellows with a comprehensive understanding of MTN’s infrastructure and the technologies shaping Nigeria’s digital future, reinforcing the programme’s goal of empowering media professionals to tell richer, more informed stories about the industry.
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