E-Business
OneFi Secures $5M Debt Facility from Lendable

One Finance Limited [OneFi] has announces that it has secured a $5M debt facility for its consumer facing platform, Paylater.
The facility comes from New York and Nairobi-based Lendable, a technology-enabled funding provider to African consumer and SME lenders.
The debt facility will be used to deploy more loans to Paylater customers, specifically through a suite of innovative new products.
Since its launch in 2016, Paylater has deployed over $60M across 750,000 loans, approving over 1,500 loans a day with an average of $80 per loan.
With this new debt facility, the company will now look to double in size within Nigeria before entering new markets in 2019. The news comes just two months after the company secured Africa’s first credit rating for a fintech platform, achieving a “BB” Rating with a “Stable Outlook’ from Global Credit Rating Co.
Speaking on the announcement, Chijioke Dozie, OneFi CEO says, “Securing this investment from Lendable represents the first internationally-backed commercial debt transaction for us, marking an important stage of our company’s development as we look to serve the “next billion”.
“As we transition into a full service digital bank, this financing will
allow us to execute on a number of new products. This includes our partnership with Visa, whereby we’ll be providing credit via QR codes at supermarkets, clinics and on public transport in H1 2019.”
There are currently only 120k active POS merchants in Nigeria, with over 50% of transactions occurring in Lagos alone. Leveraging the power of the mobile phone, of which there are 150M active connections in Nigeria, Paylater is aiming to help millions of customers transact at their point of need, and drive offline payments via lower cost QR installations.
Lendable, backed by Omidyar , KawiSafi Ventures )FMO, and other leading institutions provides credit facilities to consumers and SME credit providers operating in digital lending, microfinance, and a range of Pay-as-you-go (PayGo) services. This investment into OneFi marks the first Nigerian deal Lendable has signed, and one of a handful of new Nigerian clients for the company.
Daniel Goldfarb, Lendable CEO says: “We are incredibly excited to launch this partnership with OneFi, a market leader, as we build our presence in Nigeria. At Lendable, we build financial products to enable lending companies to scale, and we are proud to support OneFi’s mission of providing credit to the underbanked consumer and SME segments in Nigeria.
They are an incredible example of a company that has found product market fit in a massive market, and are working tirelessly to provide a best-in-class service to those customers.”
Paylater, launched in 2016 by Nigerian finance entrepreneurs Chijioke and Ngozi Dozie, provides hassle-free loans without need for human interventionor bias in decision making. The company has transitioned to a one-stop-shop offering additional products such a
E-Business
Transcorp Hotels Delivers Stellar H1 Results, Declares Over ₦1Bn Dividend

Transcorp Hotels Plc has delivered a stellar performance in the first half of 2025, recording a 60% year-on-year surge in revenue to ₦47.57 billion, up from ₦29.72 billion in H1 2024. Gross profit climbed 71% to ₦36.21 billion, maintaining a strong 76% margin despite inflation and operational headwinds.
The hospitality giant, a subsidiary of Transnational Corporation Plc, also announced an interim dividend payout of ₦1.024 billion — offering ₦0.10 per 50 kobo ordinary share to shareholders.
In a bold move, the company unveiled Nigeria’s largest corporate venue — the 5,000-seat Transcorp Centre — staking its claim as the new leader in event hospitality. Chairman Emmanuel Nnorom described the results as proof of Transcorp Hotels’ transformative strategies and unwavering investor commitment. MD/CEO Uzo Oshogwe attributed the success to relentless execution and a resilient business model.
Transcorp Hotels, renowned for iconic assets like Transcorp Hilton Abuja and its digital platform Aura, says it isn’t just leading Nigeria’s hospitality sector — it’s redefining excellence across Africa.
E-Business
Microsoft Servers Hacked by Chinese Groups

Chinese “threat actors” have hacked Microsoft’s SharePoint document software servers and targeted the data of the businesses using it, the firm has said.
China state-backed Linen Typhoon and Violet Typhoon as well as China-based Storm-2603 were said to have “exploited vulnerabilities” in on-premises SharePoint servers, the kind used by firms, but not in its cloud-based service.
The US tech giant has released security updates in response and has advised all on-premises SharePoint server customers to install them.
“Investigations into other actors also using these exploits are still ongoing,” Microsoft said in a statement.
The firm said it had “high confidence” the hackers would continue to target systems which have not installed its security updates.
It added that it would update its website blog with more information as its investigation continues.
Microsoft said it had observed attacks in which hackers had sent a request to a SharePoint server “enabling the theft of the key material by threat actors”.
Charles Carmakal, chief technology officer at Mandiant Consulting firm, a division of Google Cloud, told reporter, it was “aware of several victims in several different sectors across a number of global geographies”.
Carmakal said it appeared that governments and businesses that use SharePoint on their sites were the primary target.
A number of adversaries who stole material encoded by cryptography were then able to regain ongoing access to the victims’ SharePoint data, he said.
“This was exploited in a very broad way, very opportunistically before a patch was made available. That’s why this is significant,” Carmakal said.
Carmakal said the “China-nexus actor” was deploying techniques similar to previous campaigns associated with Beijing.
Microsoft said Linen Typhoon had “focused on stealing intellectual property, primarily targeting organizations related to government, defence, strategic planning, and human rights” for 13 years.
It added that Violet Typhoon had been “dedicated to espionage”, primarily targeting former government and military staff, non-governmental organizations, think tanks, higher education, the media, the financial sector and the health sector in the US, Europe, and East Asia.
Meanwhile, Storm-2603 was “assessed with medium confidence to be a China-based threat actor”.
E-Business
NIMC Warns Nigerians of Fake NIN Website

National Identity Management Commission (NIMC) has issued a public warning that it is not associated with NINcard.com.
According to the commission, the website has been circulating online to offer services for Nigerians seeking National Identification Number (NIN) services.
NIMC, in a post on its official X account on Wednesday, said, “NINcard.com is not in anyway affiliated to NIMC. Stay vigilant!”
The warning was accompanied by screenshots of fake payment receipts and OTP request pages from the website, both of which were boldly stamped “FAKE” by NIMC to alert the public.
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