Author: Paul Adepoju

IBM has paid an undisclosed amount to acquire Ustream a cloud-based live video streaming services to extend its cloud platform to help enterprise clients unlock the value of video, a rapidly-evolving digital media and data asset. Ustream offers cloud-based video streaming to enterprises and broadcasters. The service can be used…

Latest figures released by the Nigerian Communications Commission (NCC) showed an increase in the number of telecoms in Nigeria in the month of November 2015. According to the NCC, there were 152,123,172 active lines in Nigeria at the end of November increasing from 149,787,120 at the end of October, representing…

Twice in two weeks, taxi hailing app Uber introduced new payment options in Nigeria. Last week, Uber introduced cash payment in Nigeria. The feature which is being tested will see a small group of riders in Lagos getting the option, in-app, to pay in cash. If they select it, the…

Following a recent announcement of a fine by the Cameroonian authorities over allegations of tax evasion, MTN has come out to deny its involvement in corruption-related actions in Cameroon. It affirms that its interactions with the Government of Cameroon and its representatives have always been transparent, and in conformity with…

Operators of telecoms companies in Nigeria have been urged to take matters of national security very seriously. Nigeria’s president, Muhammadu Buhari made this call in Dubai. The president advised telecommunication companies operating in Nigeria not to place their desire for huge profits above the security needs of the country. He…

The woes of MTN Group increased with the announcement of a fresh $160 million fine on the network over tax evasion. The latest fine was slammed on MTN by the Cameroonian government which said the telecoms operator failed to pay tax on games and gambling activities on the network. MTN…

Uber has added Paga to its payment options accepted in Nigeria in a move aimed at ensuring that the Uber customer experience remains unaffected by local preferences and regulations. The partnership between Paga and Uber gives riders the option to pay with Paga using a local debit card, without worrying…

Visa and United Bank of Africa Plc (UBA) have launched SmartMoney which is a prepaid card and a mobile app. The service is available across Africa. The launch signifies the fusion of Visa Inc’s trusted payments technology and SmartMoney’s mobile app experience to establish a millennial centric product proposition, for…

A lot of people are starting to formulate theories and ideas about Africa and how its large market can be tapped into, but most of it is largely conjecture, Mark Essien, founder of Hotels.ng, the largest online hotel booking portal in Nigeria, said during a talk in Jordan recently. And it’s…

A NGN1 billion CcHub Growth Capital Fund has been launched by Co-creation Hub (CcHUB), Bank of Industry (BoI), Venture Garden Group (VGG) and Omidyar Network (ON). The goal of the capital is to invest N1 billion to support next generation infrastructure technology builders in Nigeria over the next two years.…

The face off between the Nigerian Communications Commission (NCC) and MTN Nigeria took a new turn yesterday when the operator revealed it may leave Nigeria and move its operations elsewhere. This decision was revealed by a top official of the network who told Business Journal that leaving Nigeria is one…

Topcheck.com.ng, a financial services comparison website today officially launched new products which would be in addition to car insurance. The company said it is now offering life insurance and quick loans to its list of products. To reflect this addition, the platform’s home page of the website has taken on…

Venia Group has launched a second business hub in Lagos and it is targeting startups and SMEs in Nigeria’s commercial nerve center. The new space can accommodate 120 businesses and it reportedly offers tastefully furnished offices, fully kitted conference room with video conferencing services, kitchenette/cafeteria, private meeting rooms, high-speed internet,…

Towards the end of last year, the Central Bank of Nigeria (CBN) announced a new policy that restricted how much owners of cards issued by Nigerian banks can spend outside the country. Under the new rule, Nigerian cardholders can only spend $500 monthly abroad. The apex bank also announced new…

Uber may have finally bowed to the Nigerian market’s demand for a cash payment feature with its decision to test the feature in Lagos this week. TechCabal reported that a small group of riders in Lagos will be be shown the option, in-app, to pay in cash. If they select…

Three Nigerian female entrepreneurs – Bola Olonisakin, Funkola Odeleye and Odunoluwa Longe, founders of DIYlaw.ng, have won the Innovating Justice Award for the SME Empowerment Innovation Challenge for East and West Africa – A challenge which was organised by The Hague Institute for the Internationalisation of Law (HiiL). The multi-stage competition…

Every day, new ideas are born and once in a blue moon, few of those ideas become highly successful businesses. Even though there are guiding principles in entrepreneurship, no one can authoritatively say which idea would become a commercial success – yet startups continue to start everywhere including harsh climates…

A move by the Nigerian government through the office of the attorney general to prevent MTN from moving its funds out of Nigeria in the wake of the hefty fine has been blocked by Justice Idris Mohammed of the Federal High Court in Lagos. According to media reports, government’s application,…

Nigeria’s premier gift-card company SureGifts today officially announced the launch of its newest product SureCredit a platform that allows employees to obtain voucher loans with which they can pay for all they need at about 50 online and offline merchants without overstraining their salaries. With the voucher, employees can purchase…

Silvertree Internet Holdings, the Cape Town-based consumer focused Internet platform, is today announcing it has recorded 330% p.a growth for 2015 to >$10m in revenue, its strongest year since operations began in 2013. Following this news, the company’s investment arm, Silvertree Capital, will start 2016 with a plan to deploy…