General News
Paystack Launches The Stack Group as Pan-African Tech Powerhouse

Paystack, the leading African payments platform solving complex financial challenges for businesses across the continent, has launched The Stack Group (TSG), a new parent holding company that consolidates its expanding family of technology brands.

Paystack
Founding shareholders of TSG include global payments giant Stripe, Paystack Founder and Chief Executive Officer Shola Akinlade, and key employees from the Paystack team, with agreements formalised in October 2025 pending necessary regulatory approvals.
Since Stripe’s strategic acquisition of Paystack in 2020, the company has recorded exponential growth, achieving a 12-fold increase in payment volumes while securing licences and operations in five African markets—Côte d’Ivoire, Ghana, Kenya, Nigeria, and South Africa—alongside regulatory approvals for Egypt and Rwanda, collectively representing approximately 46 percent of Africa’s gross domestic product.
This pan-African expansion, driven by a product-first strategy, has propelled Paystack to profitability at the group level, a key milestone announced alongside the TSG launch.
The formation of TSG follows closely on the heels of Paystack Microfinance Bank’s (MFB) recent debut in Nigeria, operating as a fully independent bank to internalise critical financial infrastructure and deliver banking and credit services tailored for more than 300,000 Nigerian merchants.
These integrated capabilities empower the development of seamless, compliant end-to-end money movement solutions, reinforcing Paystack’s core mission to build innovative technology that fuels African ambition and addresses unique continental business needs.
Under the TSG umbrella, the portfolio encompasses Paystack for merchant payment innovations, Zap for consumer-focused payments, Paystack MFB for banking services, and TSG Labs dedicated to pioneering emerging technologies and developing novel products both within financial technology and beyond.
Each entity maintains operational independence while sharing core values and specialised expertise in crafting solutions for Africa-specific challenges, fostering synergies across complementary domains.
Shola Akinlade, speaking on the landmark development, declared that the launch of TSG heralds an era of broader ambition, setting the strategic direction for the company’s next decade of impact.
“Having partnered with thousands of businesses continent-wide since 2016, the vast opportunities to extend support beyond payments are evident, and TSG positions us to confront the multifaceted hurdles African enterprises encounter,” Akinlade stated.
He extended gratitude to the Stripe team for their unwavering faith in Africa’s technological promise and Paystack’s capacity to pioneer transformative innovations for the continent and global markets.
This corporate restructuring coincides with Paystack’s 10-year anniversary celebrations in January 2026, underscoring a decade of resilience, innovation, and market leadership in Africa’s burgeoning digital economy.
Industry observers view TSG as a bold masterstroke that not only safeguards Paystack’s legacy but also amplifies its potential to shape the future of financial services, commerce, and technology across Africa at a time of rapid digital transformation and heightened investor interest in the region’s fintech ecosystem.
General News
NigComSat-1R, Nigeria’s Only Satellite to Expire this Year

NigComSat-1R, a Nigerian geostationary communications satellite will outlive its usefulness this year, meaning that the satellite will expire anytime now.

NigComSat-1R was launched by China Great Wall Industry Corporation (CGWIC) for Nigeria on December 19, 2011, as a replacement for the failed NigComSat-1.
NigComSat-1 which was put in the orbit in May 2007, was de-orbited in November 2008 following the development of power fault.
It was replaced with NigComSat-1R by the same company and has a lifespan of 15 years.
Positioned at 42.5°E, it provides C, Ku, Ka, and L-band services across Africa, Europe, and parts of Asia for broadcasting and internet.
Should the satellite fail, support for television broadcasting, internet connectivity, and secure communications for government and private sectors, may be affected.
The satellite is currently been controlled from China since 2019 following technical issues with the Abuja control station.
NigComSat-1R is currently the only active communications satellite managed by NIGCOMSAT Limited, though it operates alongside other Nigerian observation satellites.
General News
Banks, Offices to Close for Thursday and Friday for Eid-el-Fitr

Federal government has declared Thursday, March 19, and Friday, March 20, as public holidays to mark this year’s Eid-ul-Fitr celebration.

Consequently, banks, schools and offices nationwide will be shut for the two days.
The declaration was made by Olubunmi Tunji-Ojo, minister of Interior, on behalf of the government, according to a statement issued on Tuesday, by Magdalene Ajani, permanent secretary of the ministry.
Eid-el-Fitr, meaning ‘festival of breaking the fast,’ is one of the most important feasts in Islam.
The festival marks the end of Ramadan, a sacred month of fasting, prayer, and spiritual reflection observed by Muslims worldwide.
During Ramadan, Muslims fast from dawn to sunset, abstaining from food, drink, and other physical needs as an act of devotion to Allah.
Eid-el-Fitr is a time of joy and gratitude, beginning with a special congregational prayer at mosques and open prayer grounds.
It is also marked by feasting, gift-giving, and charitable acts, particularly the giving of Zakat al-Fitr, a mandatory charity given to the less privileged before the Eid prayer.
Congratulating Muslim faithful on the successful completion of Ramadan, Tunji-Ojo urged them to sustain the virtues of love, generosity, peace, tolerance, and sacrifice imbibed during the period.
He also called on Nigerians to use the festive season to pray for the peace, unity, and continued development of the country.
The minister further encouraged citizens to celebrate responsibly and extend acts of kindness to the less privileged, in line with the spirit of the season.
He reiterated the Federal Government’s commitment to promoting national unity and peaceful coexistence among all Nigerians.
General News
New Horizons Nigeria Expands Digital Access with New Retail Centre in Akute

Residents of Akute and surrounding communities now have direct access to world-class technology training following the launch of a new retail center by New Horizons Nigeria.

Mr. Tim Akano
The newly commissioned center, strategically located in Akute, is expected to serve learners and professionals across Alagbado, Ajuwon, Matogun, Lambe, Ojodu-Berger, Isheri, Giwa, Iju-Ishaga, Ishasi, and Oke-Aro.
This initiative has brought internationally recognized ICT training closer to thousands of young people and working adults. For years, distance and accessibility have limited many aspiring tech professionals from enrolling in structured, global-standard programs. With this expansion, residents no longer need to travel long distances to acquire in-demand digital skills.
New Horizons Nigeria, widely recognized as Africa’s largest ICT training organization, continues to strengthen its footprint in Nigeria’s digital education sector.
In 2025, the institution received the prestigious Best ICT Training Company award from CompTIA in South Africa. This further reinforce its leadership position within the continent’s technology training ecosystem.
As a franchise of New Horizons International, which operates in over 90 countries across six continents, the organization has consistently aligned with global best practices while addressing local capacity gaps.
The organization currently provides ICT training services to more than 30 universities and nearly 200 high schools nationwide.
The center would be used for the training of high-end technical courses like Cyber Security, Web Development, Artificial intelligence, Full Stack, Graphics and CompTIA courses like Hardware, Network and Security Plus.
New Horizons trains over 100,000 students yearly across 27 universities and 150 secondary schools, as well as corporate organizations, government agencies and retail offices.
Students trained by New Horizons Nigeria are always well-sought after in the labour market after graduation and the certificate they obtain are recognized in all the 90 countries where New Horizons have offices.
Speaking on the broader vision behind the expansion, the Founder and Chief Executive Officer, Mr. Tim Akano, emphasized that the future of the nation’s economy depends largely on accessible and practical tech education.
He noted that in today’s digital economy, virtually 100 percent of jobs require some level of IT skill, regardless of one’s field of study. From finance and healthcare to agriculture, media, engineering and public administration, technology now drives productivity and competitiveness.
He further stated that IT has evolved from being a specialized field to becoming a foundational requirement for career growth and wealth creation. Acquiring digital skills, he stressed, remains one of the most strategic pathways to higher earning potential and long-term financial stability.
Furthermore, he stated that young Nigerians considering relocation abroad need to prioritize acquiring IT skills before traveling.
He asserted that obtaining internationally relevant technology training outside Nigeria is significantly more expensive than enrolling locally.
By gaining these skills locally, individuals position themselves for better opportunities overseas. Rather than struggling to survive in low-paying or unrelated jobs, they can compete as skilled professionals in global labour markets.
Also, holding a globally recognized certifications from New Horizons Nigeria gives candidates a competitive edge, and enhances their credibility and employability abroad.
As of January 2026, New Horizons Nigeria and its CEO have collectively received over 320 national, continental, and international awards, making them one of the most decorated institutions and individuals in Nigeria’s technology, entrepreneurship, and youth empowerment space.
The launch of the Akute retail center signals more than physical expansion; it represents a deliberate effort to democratize access to technology education at the grassroots level. With increasing demand for skills in cybersecurity, cloud computing, artificial intelligence, software development, and digital business solutions, the new center is positioned to become a hub for digital transformation within Ogun State and its border communities.
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