News
Uche Ogboi Appointed CEO of Lori Systems
Lori Systems, the leading e-logistics platform in Africa, today announced the appointment of Uche Ogboi as its Chief Executive Officer.
The announcement was made via a Medium post by the company’s co-founder and outgoing CEO, Josh Sandler.
In the post titled “Welcoming Lori’s New Powerhouse CEO,” Sandler revealed that Ogboi’s appointment is a “product of many months of reflection about what it has taken to make Lori Africa’s leading logistics software and what it’s going to take to grow Lori into a multi-billion dollar company.”
Sandler, who will be moving on to serve as Executive Chairman of Lori’s board, went on to write that Ogboi who has been the company’s Chief Operating Officer since 2019 has been a key part of Lori’s success story.
“I am confident that as CEO, she will drive Lori into a period of unprecedented innovation and growth,” he wrote.
“There’s no better person to mobilize the market opportunity and execute on our mission to lower the cost of goods in frontier markets.”
Speaking on the appointment, Mengqiu Wang, Lori Board Member and Founding Partner of Crystal Stream Capital said, “On behalf of the Board of Directors, we are delighted to announce Uche Ogboi as Lori’s incoming CEO.
“With Uche’s operational excellence and strong vision, we are confident she will continue to advance Lori’s commitment to sustainable growth.”
Ogboi also stated, “I joined Lori because I was deeply captivated by the mission and inspired by the team driving it. Josh is a visionary and has built something radically special in Lori. As CEO, I am committed to continue executing on our vision and scaling the platform to new markets.
“I am grateful to Josh, Jean-Claude, and the board for this tremendous opportunity and excited to start delivering on the exciting plans ahead.”
As Lori’s COO, Ogboi has recorded significant success growing Lori’s Nigeria business 10X in less than a year. In East Africa, loading times and border crossings improved to 6 hours, whereas it was 72 and 48 hours respectively when Lori started.
Before Lori, Ogboi served as a Principal, Investments at the pan-African venture capital firm, EchoVC Partners, investing in and scaling startups across various industries and markets.
Prior to joining EchoVC, she worked at Citi as an Investment Banker and was involved in deploying over $8 billion of capital across various regions including Sub-Saharan Africa and Europe.
“Time and time again Uche has proven herself to be a brilliant operator and strategic partner, outperforming during times of market stability and difficulty.
“The immense trust and confidence I have in her was the key reason I was able to make the difficult decision to transition from the role of CEO. Building Lori has been one of the most meaningful experiences of my life, and I feel lucky that Uche has agreed to lead Lori into the next chapter.
“I am excited to continue to support Uche, our team, and mission as Executive Chairman,” said Sandler.
Founded in 2016, Lori, a pan-African company, is the leading e-logistics platform in Africa, seamlessly coordinating haulage in frontier markets.
In 2020, the company was selected as a “Technology Pioneer” by the World Economic Forum. E-logistics companies have become some of the highest growing startups globally, and in Africa, Lori is at the forefront. Ogboi will assume the position of CEO effective July 1.
The Securities and Exchange Commission has revealed plans to commence investigation into the activities of an entity operating under FF Tiffany, allegedly running a fraudulent investment scheme that has defrauded citizens.
A statement by the SEC on Tuesday in Abuja said preliminary information revealed that the scheme, which promised investors unusually high and unrealistic returns, had resulted in the loss of several billions of naira.
The SEC said it viewed the activity as a threat to investor confidence and the overall integrity of the financial system.
The commission assured the public that it was working closely with law enforcement agencies and other relevant bodies to bring everyone involved in the unlawful operation to justice.
According to SEC, those found culpable will be prosecuted in accordance with the Investment and Securities Act and regulatory provisions.
SEC reiterated its earlier warnings to the general public to desist from engaging in Ponzi or unregistered investment schemes that promised guaranteed or exaggerated returns.
“These schemes are not registered with the SEC and do not offer investor protection under the law.
“The commission is currently investigating 79 schemes and will make a statement on its findings at the conclusion of the investigation,” the SEC said.
The commission encouraged investors to conduct due diligence and verify the registration status of any investment firm or product by visiting the SEC website or contacting the commission directly through official channels.
SEC said it remained committed to its mandate of protecting investors, ensuring fair practices, and maintaining confidence in Nigeria’s capital market.
The Ogun Tech Hub in Abeokuta, Nigeria received a significant step towards increasing digital access and empowering young people as US Embassy in Nigeria launched the ‘Window on America’ facility.
The newly opened centre will offer free high-speed internet, computer access, and targeted programs to help young Nigerians build essential skills in technology, entrepreneurship, and leadership.
In a post on X (previously Twitter), the US Embassy described the hub as a modern ICT and resource centre meant to promote digital inclusion and provide youths with skills.
“Hello Abeokuta! We’re thrilled to announce the opening of the Ogun Tech Hub Window on America. This dynamic space offers free high-speed internet, computers, and programs to help young people gain tech, leadership, and entrepreneurial skills,” the Embassy wrote.
The facility was established in collaboration with the Ogun State and GFA Technologies, a software solutions provider for startups and SMEs.
The Embassy said the facility is part of its wider network of 29 American hubs across Nigeria, designed to empower youth and broaden access to global knowledge and opportunities.
Speaking during the launch, Ogun State governor Dapo Abiodun urged young people to use the ICT industry for self-sufficiency and competitiveness globally.
He lauded the program as a public-private cooperation that connects Nigerian youngsters with global innovations.
The governor said: “The Ogun Tech Hub serves as a collaborative space for technologists, startups, and social entrepreneurs to develop tech-driven solutions for societal challenges. The partnership is aimed at positioning Ogun State as a leading tech hub in Africa, supporting creative problem-solving and commercial innovation.”
With the ‘Window on America’ program fully operational, Ogun State is well-positioned to boost youth empowerment and digital literacy.
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