Author: Gift Ifeanyi

The Securities and Exchange Commission (SEC) has issued a public warning against two digital assets—Zugacoin (including its variants SZCB and SZCB2) and Samzuga GPT—declaring them unlicensed and unauthorized for operation or trading within Nigeria’s capital market. In a statement released on Wednesday, the commission emphasized that the issuers and promoters of these cryptocurrencies are not registered to operate in any capacity and have not received SEC approval for public issuance or investment activities. SEC Labels Zugacoin and Samzuga GPT as Meme Coins Following an internal review, SEC classified both Zugacoin and Samzuga GPT as meme coins—a class of digital tokens…

At just 26 years old, Adaugo Godsgift Ezeala is redefining Africa’s digital commerce landscape. In 2024, she co-founded SokoSQ, an AI-powered platform revolutionizing how small businesses sell, operate, and grow in a digital-first economy. As Chief Operating Officer of SokoSQ, Adaugo leads product innovation, growth strategy, and market expansion. In a region where more than 80% of SMEs still rely on informal or semi-digital sales methods, SokoSQ provides an end-to-end digital business solution—offering instant online stores integrated with Instagram, WhatsApp, and offline channels. The platform also features inventory tracking, marketing automation, business intelligence, and sales analytics—all optimized for ease of…

Nigerian fintech startup Hizo has secured $100,000 in seed funding from a Friends and Family round led by a prominent local angel investor. The round, which officially closed on June 4, 2025, marks a pivotal step in Hizo’s mission to simplify intra-African money transfers, enabling users to send, receive, and spend local currencies seamlessly across borders. A Pan-African Payment Vision While most remittance platforms focus on funds flowing into Africa from Western countries, Hizo is solving for the often-ignored intra-African financial ecosystem. “Cross-border transactions within Africa are typically routed through foreign currencies like the U.S. dollar,” explained Victor Chiedu, CEO…

Entrepreneurship is a cornerstone of sustainable economic development, fueling innovation, job creation, and community upliftment. In Akure, Nigeria, The Hive Incubator is championing this cause from the ground up—empowering emerging entrepreneurs with the tools, mentorship, and capital needed to turn ideas into thriving businesses. A Different Kind of Incubator Unlike traditional incubators clustered in major cities, The Hive is rewriting the script by anchoring its operations in Akure, a region often overlooked by the broader startup ecosystem. But this isn’t just about location—it’s about democratizing access to entrepreneurship support. What sets The Hive apart? Six-month structured incubation program Access to…

A new full-service commercial law firm, Abe & Asotie LP, has been launched in Lagos, Nigeria, with bold ambitions to transform Africa’s legal landscape. Founded by seasoned legal practitioners Joshua Abe and Theokalus Asotie, the firm officially opened its doors on June 11, 2025, with a mission to deliver high-impact legal solutions and redefine the role of law in business and society. Strategic Legal Offering Rooted in Diverse Expertise Operating from the Lagos Court of Arbitration building, Abe & Asotie LP will offer a comprehensive suite of services that includes: Dispute resolution (litigation, arbitration, mediation, negotiation) Banking and finance Energy,…

Afri Invoice, the first invoicing SaaS platform designed by Africans for African businesses, is officially launching this month to empower local entrepreneurs ahead of the Federal Inland Revenue Service (FIRS) July 2025 e-invoicing deadline. Founded by British-Nigerian serial entrepreneur Mark Odenore, the platform is built to simplify digital invoicing, tax compliance, and secure payment tracking, offering a tailored, scalable solution for African SMEs navigating a rapidly digitizing economy. “We’re not just witnessing the future of African tech—we’re building it,” said Odenore. “Afri Invoice solves real problems with practical, accessible tools made specifically for our people and our businesses.” Designed for…

The Nigeria Employers’ Consultative Association (NECA) has called for more inclusive economic reforms that directly support private sector growth and national development. This appeal comes ahead of its highly anticipated Employers’ Summit set for June 25–26, 2025, in Abuja. At a press briefing, Adewale Smatt-Oyerinde, NECA’s Director-General, emphasized the need for stronger alignment between government policies and private sector realities. Themed “Enabling Sustainable Enterprise in a Transitioning Economy: Aligning Fiscal, Trade, and Regulatory Reforms for Inclusive Development,” the summit seeks to address the structural challenges facing businesses and the Nigerian economy.  Mismatched Policies Hindering Progress Smatt-Oyerinde pointed out that while…

Lagos, Nigeria is set to host one of the continent’s most impactful professional gatherings this June—the African Workforce Summit (AWS) 2025, a groundbreaking two-day event dedicated to reshaping the future of work in Africa. Taking place from June 27–28, 2025 at the Sheba Event Center, AWS is proudly headlined by Sycamore.ng and convened by HR visionary Joel Babatunde Moses (OgaHR). AWS 2025 isn’t just a summit—it’s a movement to catalyze transformation across business, technology, media, and human capital.  What to Expect at AWS 2025 Keynotes & Expert Panels Engage with top industry leaders and trendsetters including: Babajide Duroshola – General…

At the 2nd Africa Space Economy Conference and Exhibition (ASEC) held in Abuja, Nigeria’s Minister of Innovation, Science and Technology, Mr. Uche Nnaji, called for increased collaboration across governments, private sector leaders, researchers, and global development partners to accelerate Africa’s space economy. With the theme “Africa Space Economy and Emerging Market,” the event was jointly organized by the Abuja Chamber of Commerce and Industry (ACCI) and the National Space Research and Development Agency (NASRDA).  The Minister’s Call: Unity for Space Advancement Minister Nnaji emphasized that space technologies are key to solving critical challenges on the continent, including: Accurate weather forecasting…

The relationship between a company’s Managing Director (MD) or Chief Executive Officer (CEO) and its Board of Directors is fundamental to effective corporate governance. Yet in Nigeria, this relationship is often strained by factors such as founder dominance, weak board independence, political interference, and cultural constraints. These challenges undermine transparency, accountability, and strategic oversight, threatening long-term business sustainability.  Key Governance Challenges in CEO–Board Relationships 1. Founder Dominance & CEO-Chairman DualityMany Nigerian companies, especially in family-owned sectors like oil and gas and manufacturing, concentrate power in the hands of founders who serve as both CEO and Board Chairman. This practice contradicts…

In a bold move to reinvigorate Nigeria’s industrial base, the Federal Government has reaffirmed its commitment to restoring private sector confidence, reviving struggling industries, and accelerating job creation across the country. This renewed drive was announced by the Minister of State for Industry, Trade and Investment, Senator John Owan Enoh, during a high-level technical session in Lagos. Themed “From Activities to Outcomes: Driving Industrial Renaissance,” the forum brought together stakeholders under the Industrial Revolution Work Group (IRWG)—a task force designed to convert industrial strategies into tangible results. A Shift from Rhetoric to Execution Senator Enoh made it clear that the…

Every year, Nigeria produces over 2.5 million tonnes of plastic waste—most of it ending up in gutters, waterways, and overflowing landfills. Simultaneously, countless talented young Nigerians remain underemployed, disconnected from meaningful opportunities in tech and digital innovation. While these issues may seem unrelated, Feexet, a rising Nigerian social enterprise, sees them as deeply intertwined—and it’s building grassroots solutions to tackle both. Redefining Problem-Solving through Design, Tech, and Community Feexet’s mission is simple yet ambitious: use design, technology, and community organising to address real-world challenges that are often ignored. Whether it’s waste management or digital exclusion, Feexet empowers ordinary people to…

In a major push to improve access to affordable finance, the Federal Government has introduced a consumer credit initiative offering up to ₦2 million interest-free loans, starting with civil servants and later extending to the broader public. The scheme is spearheaded by the Consumer Credit Corporation of Nigeria (Credicorp), established by executive order in April 2024. Structured Credit, Not Free Money Speaking after a briefing with President Bola Tinubu, Credicorp Managing Director Uzoma Nwagba emphasized that the new scheme is not about handing out free funds but about empowering Nigerians to plan better financially and live with dignity. “Rather than…

SINGAPORE — Wilmar International is set to acquire full ownership of Nigeria-based palm oil company PZ Wilmar by purchasing the remaining 50% stake from joint-venture partner PZ Cussons for US$70 million, according to an announcement made on Wednesday, June 18. Once the deal is finalized, Wilmar will hold 100% equity in the palm oil business, marking a strategic expansion of its footprint in Nigeria’s agribusiness sector. Expanding in a High-Potential Market Chairman and CEO Kuok Khoon Hong stated that Nigeria’s growing population of over 200 million offers significant opportunity in food and nutrition, making the country a key investment destination…

As tensions escalate between Israel and Iran, Nigerian economic analysts are sounding the alarm over the potential ripple effects on the nation’s economy. The Centre for the Promotion of Private Enterprise (CPPE) has warned that the unfolding geopolitical crisis could produce a complex mix of economic gains and setbacks for Nigeria, particularly in the energy and monetary sectors. According to Dr. Muda Yusuf, Chief Executive Officer of CPPE, the volatile Middle East situation may trigger a surge in global oil prices—an outcome with both promising and perilous consequences for Africa’s largest oil-producing nation. On one hand, the rise in crude…

Nigeria’s equities market opened the week on a bearish path as the Central Bank of Nigeria’s (CBN) decision to suspend dividend payouts, executive bonuses, and foreign investments by select banks continues to ripple through the financial sector, wiping off N108 billion from the market capitalisation in a single trading day. The All-Share Index (ASI) dropped by 170.77 points or 0.15%, settling at 115,258.77, while total market capitalisation fell to N72.68 trillion. The downturn was primarily driven by selloffs in large and mid-cap stocks, notably Zenith Bank, United Bank for Africa (UBA), Oando, Conoil, and Northern Nigeria Flour Mills (NNFM). Investor…

A U.S.-based Nigerian expert in geoscience and data innovation, Mathew Ogieva, is making remarkable strides in the global advancement of Science, Technology, Engineering, and Mathematics (STEM), using his expertise to shape and inspire the next generation of innovators across continents. Ogieva recently served as a Grand Award Judge at the prestigious 75th Regeneron International Science and Engineering Fair (ISEF), held from May 10 to May 17 in Columbus, Ohio. ISEF, which brings together nearly 1,700 young scientists from more than 60 countries, is recognized as the largest and most esteemed pre-college science competition in the world. Reflecting on the event,…

Ogun State has paid a solemn and heartfelt tribute to one of Nigeria’s most revered industrialists and community leaders, Chief Olatunde Abudu, who passed away at the age of 96 in Abeokuta last week. At the eight-day Fidau prayers held in his honour on Monday, prominent dignitaries, including Governor Dapo Abiodun and former governors Olusegun Osoba and Ibikunle Amosun, gathered to celebrate the life and legacy of a man who left an indelible mark on Egbaland, Ogun State, and the nation at large. Representing Governor Abiodun at the event, Deputy Governor Engr. Noimot Salako-Oyedele described Chief Abudu as a man…

Over the past 25 years, Africa’s oil and gas landscape has undergone a dramatic transformation. Once dominated by a few nations, hydrocarbon discoveries now span nearly 40 of the continent’s 54 countries. While this expansion holds significant economic promise, it also presents a critical question: how can these resources be harnessed to benefit African economies and citizens? One voice gaining continental attention is Simbi Wabote, former Executive Secretary of Nigeria’s Content Development and Monitoring Board (NCDMB), whose seven-year tenure saw Nigeria’s local content participation rise from 18% to 54%. Today, he is helping other African nations build sustainable frameworks for…

At the maiden edition of the Folawiyo Entrepreneurship Centre Annual Lecture and Business Idea Competition, thought leaders and industry experts gathered at Yaba College of Technology, Lagos, to explore entrepreneurship as a cornerstone of sustainable national development. The keynote speaker, Chief Tunde Fanimokun—a former Lagos State Permanent Secretary and Chairman of DSE Foundation—outlined seven major challenges confronting Nigeria’s growth and proposed visionary leadership as the key to unlocking its immense potential. Delivering a lecture titled “Entrepreneurship: The Central Pillar of Accelerated Sustainable Development in Nigeria,” Chief Fanimokun highlighted the chronic issues of mismanaged natural wealth, neglected agricultural development, overreliance on…