Justina Salami

SEC flags unregistered investment schemes by PWAN/PWAN MAX

Nigeria’s SEC has issued a public warning against PWAN and PWAN MAX, calling out their unauthorized capital-raising practices and possible ponzi structure.

Students heave sigh of relief following MTN’s come back to Kogi

MTN Nigeria has resumed full network services across Kogi State after a two-week outage caused by a tax dispute. The return brings major relief to over 1.5 million residents and students at Federal University Lokoja who faced severe academic and communication setbacks.

SEC warns against Tofro.com, flags crypto platform as unregistered and fraudulent

The SEC has warned the public against investing in Tofro.com, calling it an unregistered platform showing signs of a Ponzi scheme, including failed withdrawals and unusually high returns.

May Day strike grounds ride-hailing in Nigeria as drivers demand fairer terms from Uber, Bolt

On Workers’ Day, Nigerian app-based drivers with AUATWON staged a nationwide strike against Uber and Bolt, demanding fare reform, safety, and fair labor terms.

Lagos gets electric tricycle hailing via Bolt

Bolt has launched electric tricycles in Lagos, expanding its green mobility strategy in Nigeria with battery-powered “keke” to reduce emissions and fuel costs.

Kogi students relocate, protests loom over crippling MTN shutdown

MTN’s network shutdown in Kogi State has disrupted education and commerce, forcing student relocations and triggering plans for mass protests over a ₦1.2 billion tax dispute.

Aruwa Capital nears $50M target as it closes $35M for gender-focused fund II

Aruwa Capital Management, a female-led Lagos private equity firm, closes $35M for its gender-lens Fund II and plans to expand investments across Nigeria and Ghana.

OmniRetail raises $20M Series A to scale Africa’s informal retail infrastructure

The company achieved profitability in 2024 and processes over $800M annually.

Lendsqr launches voice, video AI for loan assessments

Lendsqr has developed an AI-powered voice and video analysis model to revolutionize credit scoring for Nigeria’s informal sector, offering a new path to financial inclusion for over 100 million unbanked adults.

MTN discloses cyberattack impacting customer data in select markets

MTN Group has confirmed a malware-driven cyberattack that compromised customer data in select markets, including Nigeria. Regulators may soon launch investigations as concerns rise over telecom security in Africa.

Local ride-hailing app SimpliRide launches in Nigeria with zero commission

Simpliride, a driver-led ride-hailing platform, has launched in Lagos, Abuja, and Port Harcourt, offering a subscription-based alternative to Uber and Bolt. The initiative marks a major shift in Nigeria’s gig economy, empowering drivers with better pay and protections.

Nigerian ride-hailing drivers to strike on May 1 over low fares and poor working conditions

Ride-hailing drivers in Nigeria plan a May 1 strike to protest exploitative commissions, low fares, and poor safety measures. The action could reshape gig economy policies in Nigeria and beyond.