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E-Business

Nigerian Youth Forging New Bitcoin Path to Financial Golden Age

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L-R: Ray Youssef; Paxful CEO and Founder, Inuwa Kashifu, Director-General of the National Information Technology Development Agency (NITDA) and Yusuf Nessary; Director Built With Bitcoin Foundation during the annual Digital Nigeria International Conference and Exhibition, held recently at the International Conference Centre, Abuja.
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Paxful, the leading global peer-to-peer (P2P) finance platform, has doubled down on its commitment to promote financial literacy among Nigerian youth as part of its efforts to drive economic growth in the country.

Nigerian Youth Forging New Bitcoin Path to Financial Golden Age

L-R: Ray Youssef; Paxful CEO and Founder, Inuwa Kashifu, Director-General of the National Information Technology Development Agency (NITDA) and Yusuf Nessary; Director Built With Bitcoin Foundation during the annual Digital Nigeria International Conference and Exhibition, held recently at the International Conference Centre, Abuja.

Ray Youssef, Paxful founder and CEO, gave the assurance at this year’s annual Digital Nigeria International Conference and Exhibition, held in October at the International Conference Centre, Abuja.

The founder was a guest speaker during Blockchain Day, a one-day event held during the government backed October conference. In his presentation titled “Blockchain for Youth Empowerment”, Youssef noted that the youth are the bedrock of every society, and they facilitate growth and economic development—it is vital that they are empowered with financial education to thrive and become the nation’s next great leaders.

He said, “Financial education brings empowerment and entrepreneurship. Nigerian youth are leading a financial revolution and Bitcoin has already scaled tenfold compared to other regions. We must foster that momentum—it will open Nigeria up to the global market, grow local businesses, expand opportunities for international freelancers, and lessen Nigeria’s reliance on international governments who threaten to devalue local commerce. Through Bitcoin, Nigerians will lead the whole of Africa into a financial golden age.”

Putting his words into action, Youssef spoke to hundreds of Nigerian youths in Abuja during an October 29th campus tour—discussing the future of finance and how Bitcoin can improve their daily lives. Students attended from different universities such National Open University of Nigeria (NOUN), Federal College of Education (FCT), and Veritas University Abuja.

Youssef’s goal is to amplify the work and ingenuity of these students. He noted that they are showing other regions how to apply meaning to Bitcoin. Youssef said, “Bitcoin is more than just an investment asset. It’s proof of the power of Nigerians. With high education but unemployment standing over 30%, you have shown the world how Bitcoin can forge a new path while strengthening a local economy. That’s empowering.”

During his trip, Youssef will also be visiting the PaxNaija Center in Abuja, which has successfully organized around 75 events across 9 states in Nigeria, training youths and university students on Bitcoin usage such as cross border payments and profitable arbitrage opportunities.

Youssef has seen the power of education firsthand. Through the Built With Bitcoin Foundation, a non-profit organization that Youssef founded, his team was able to open both a primary and nursery school in Kaduna state. The community is now able to offer over 200 kids free access to early education and scholarships.

Youssef and his team will be pushing to progress Bitcoin and financial education even further during this trip, meeting with various high-level politicians to continue a dialogue around the future of Bitcoin in the country.

 

 


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E-Business

Nigeria Strengthens Cybersecurity, Launches National Cleanup Plan

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Nigerian government, through the Office of the National Security Adviser (ONSA) and the National Information Technology Development Agency (NITDA), has announced a strategic collaboration to strengthen cybersecurity and clean up the nation’s cyberspace.

Nigeria Strengthens Cybersecurity, Launches National Cleanup Plan

Recognizing that cybercrime knows no borders, Nigeria also reaffirmed its commitment to fostering stronger global partnerships within the cybersecurity ecosystem.

This announcement was made during a press conference before the inaugural National Cybersecurity Conference, which is scheduled to take place in Abuja from July 9th to 11th, 2025.

Sa’ad Abubakar, national cybersecurity coordinator from the Office of National Security Advisor, said fighting cybercrime must take the whole of society and the whole of the government approach.

According to him, “Apart from the deterrent approach whereby government agencies such as Economic and Financial Crimes Commission (EFCC) arrest individuals, take them to court and prosecute them, the youth can be nurtured into better citizens who can showcase their capacity in better ways and be useful to the country.”

Similarly, Kashifu Abdullahi, director-general, NITDA,  also stressed the need for collaborative efforts in fighting cybercrimes.

According to him “Then, in addition to that, we also want to build a stronger global collaboration with the global cyber security ecosystem, because when you look at cybercrime in general, it doesn’t respect the borders.

“Someone can commit a crime from Ghana using a Nigerian ID in the US. So you can look at him physically in a different jurisdiction, pretending to be in another jurisdiction, committing the crime in another jurisdiction.

“So without that kind of synergy and working together, it will be difficult to address these challenges. The third one is challenge. The third one is getting an alternative to cybercrime for our kids in Nigeria. We have this as a major challenge.”

Inuwa further highlighted the upcoming conference’s importance, noting that it would tackle key issues through workshops, discussions on emerging threats, cross-border cybersecurity collaboration strategies, and training programmes.

He also announced that the National Cybersecurity Conference 2025 would feature the Cybersecurity Excellence Awards, recognising top contributions in the field.

The DG extended an invitation to global partners to collaborate with Nigeria in building a safer digital future.

The press conference was attended by notable figures, including Ahmad Sa’ad Abubakar, National Coordinator of, the National Cybersecurity Coordination Centre (NCCC); Hanniel Jafar, Representative of the President, of Cyber Security Experts Association of Nigeria (CSEAN); Ankit Shukla, Managing Director, QNA Marketing Management LLC and members of the press and other stakeholders.


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E-Business

AXIAN Telecom Invests in Jumia Post-MTN Era

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XIAN Telecom has acquired an 8% stake in pan-African e-commerce company Jumia Technologies, citing the platform’s fintech and logistics strengths as key drivers of its backing.

This marks the first major telecom investment in Jumia since MTN Group’s exit in 2020.

AXIAN, a fast-growing telecom and digital services provider with operations across Africa, disclosed the purchase in a Schedule 13D filing with the U.S. Securities and Exchange Commission.

While the financial terms were not disclosed, AXIAN Telecom CEO, Hassan Jaber, described the move as a strategic alignment with Jumia’s growth trajectory and digital ecosystem.

“Jumia’s achievements in digital retail and fintech, particularly through JumiaPay and its logistics network, make it a very attractive investment for us. We believe in Jumia’s potential to promote financial and economic inclusion, which aligns with our core values,” said Jaber.

Once dubbed the “Amazon of Africa,” Jumia became the first African-founded tech company to list on the New York Stock Exchange in 2019.

But years of underperformance, leadership changes, and competitive pressures dented investor confidence.

In October 2020, South Africa’s MTN Group offloaded its 18.9% stake for $138 million, well below the $698 million value it once held post-IPO.

Since then, Jumia has undergone a significant transformation. Under CEO Francis Dufay, appointed in 2022, the company exited low-performing markets like South Africa and Tunisia, cut costs, and doubled down on core markets – Nigeria, Kenya, Egypt, and Morocco.

The firm is now focused on high-growth verticals, including everyday essentials and digital financial services.

Jumia’s regional CEO for East Africa, Vinod Goel, recently revealed plans to scale up international brand offerings and open its logistics network to third-party businesses.

Jaber underscored that AXIAN Telecom’s investment signals renewed confidence in Jumia’s long-term potential.

The telecom firm’s CEO said the company views Jumia as a key player in advancing Africa’s digital economy, aligning with AXIAN’s mission through its fintech and digital infrastructure brands such as Yas and Mixx by Yas.

 


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NIMC Plans to Register 95 Percent Nigerians by December

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Abisoye Coker-Odusote, director general, National Identity management commission (NIMC) has said that the commission is set to register 95 percent of Nigerians into the National Identity Database before December 2025.

NIMC Plans to Register 95 Percent Nigerians by December

Abisoye Coker-Odusote,, DG, NIMC

She made this statement at a press briefing to highlight the commissions goal aligns with President Bola Tinubu’s Renewed Hope Agenda, particularly on digital governance and inclusive development.

The mass enrollment drive will be powered by a combination of improved infrastructure, expanded registration centres, and robust public sensitization campaigns.

As of May 2025, NIMC reports over 120 million Nigerians have been enrolled, and about 100 million more would be captured by December.


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