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CBO Partners British Council to Provide Seed-Funding for IT Entrepreneurs

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(L-r): Chuka Mordi, director, CBO Investment Management, Ayodele Elegba, founder Comicpanel.org, Sulaiman Teslim, founder Shopinfo.com.ng, David Ugoagbara, founder Priceleaker.com, and Bex Nwawudu, director, CBO Investment Management at the presentation of seed-funding cheques to the I.T entrepreneurs, as part of CBO Investment Management’s CSR activities held in Lagos.
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Management of CBO Investment Management has provided seed-funding worth $2500 to three IT entrepreneurs, in furtherance of its vision to provide funding & growth capital for small businesses in Nigeria, and West Africa.

The entrepreneurs emerged as winners and finalists at the Entrepreneurs Pitching Contest organized as part of the recently held British Council Creative Industries Expo in Lagos, Nigeria.

Speaking during the presentation of the cheques to the finalists, at the CBO head office in Lagos, Chuka Mordi, director, CBO Investment Management said, “The earlystages of any business are absolutely crucial for entrepreneurs. By supporting these start-ups during their formative years, we are relieving them of the financial concerns, so they can focus on other key areas that contribute to the overall success and growth of their businesses.”

“We included a pitching contest for the first time this year in order to showcase the hidden talent among Nigeria’s creative and digital entrepreneurs and bring them to the attention of potential financiers, mentors and partners. We are delighted that CBO Investment Management recognized the value in this program and stepped up to support the next generation of entrepreneurs,” said Nkiru Asika, CEO of Enterprise Creative, Nigeria’s leading development agency for the creative industries and the producers of the British Council Expo.

The event witnessed the finalists giving live demonstrations of their sites and online portals, and taking questions, comments and investment advice from the CBO Investment Management team.

Sulaiman Teslim Olalekan, founder of Shopinfo.com.ng, a mobile application that helps shoppers source goods in local shops, check stock availability and compare prices, was the overall winner at the contest.

The two runners-up were David Ugoagbara of Priceleakers.com, an online marketplace for building materials, and Ayodele Elegba of Comicpanel.org, an online hub for comics and related industries.

Fielding questions from the entrepreneurs and providing business advice to them, Bex Nwawudu, director CBO Investment management said, “The first lesson that entrepreneurs must learn is that having a bright idea is not enough. They must learn to innovate, monetize and build those ideas into sustainable businesses that positively impact the Nigerian and African economy. At CBO Investment Management, we are committed to continue raising funding for businesses such as these, because the growth of small businesses is truly the only way that we can develop Africa.”

CBO Investment Management is a West Africa focused Investment Manager that advises on investments, and manages funds on behalf of institutions, private clients, and African diaspora and retail investors.

CBO has invested over $49m and returned over $70m to investors.

The company is focused on recycling ‘African Funding for African Business’ and using such to generate further foreign direct investment.

In line with this mission, CBO is actively investing and raising a $150m Growth PE Fund, that is focused on SME investments within the West African sub region.


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UK Appoints Peter Vowles as British High Commissioner to Nigeria

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The UK Government has announced the appointment of Mr Peter Vowles as the next British High Commissioner to the Federal Republic of Nigeria.

Mr Vowles succeeds Dr Richard Montgomery CMG and is expected to take up his post in Abuja in September 2026. Dr Montgomery remains in post until that time.

Mr Vowles brings extensive diplomatic and development experience to the role, having served as His Majesty’s Ambassador to Zimbabwe from 2023 to 2026 and previously as Ambassador to Myanmar from 2021 to 2022.

He has held senior leadership positions across the FCDO and its predecessor department DFID, including as Transformation Director and Director for Asia, Caribbean and Overseas Territories.

Earlier in his career, Mr Vowles worked in international development across South Asia, Central Africa and East Africa, including postings in Bangladesh, India, the Democratic Republic of Congo and Kenya. He began his career in Zimbabwe, where he worked in education and development.

Peter Vowles said: “I am honoured to be appointed as British High Commissioner to Nigeria. Nigeria is a country of immense importance to the United Kingdom, and I look forward to working closely with Nigerian partners to strengthen our relationship across trade, development and security.”


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Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

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World Bank has ranked the Apapa and Tin Can Island Port complexes in Lagos among the world’s 20 most improved ports in its 2025 Container Port Performance Index (CPPI), released in June 2026.

Nigeria’s Apapa, Tin Can Ports Make Global Top 20 Improvement List

The ranking places both ports in the “Top 20 Port Improvement Since 2020” category, reflecting significant gains in operational efficiency and vessel turnaround time.

The CPPI is a global benchmark used to assess the efficiency of container ports based on factors such as cargo handling speed, ship turnaround time and overall logistics performance.

According to the report, the improvement highlights ongoing reforms and modernization efforts within Nigeria’s maritime sector.

The Managing Director of the Nigerian Ports Authority (NPA), Mr Abubakar Dantsoho, attributed the recognition to ongoing policy reforms and infrastructure upgrades in the sector.

He said the development reflects the impact of economic policies of President Bola Tinubu and the support of the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola.

“With the investor-friendly policies of President Bola Ahmed Tinubu providing the impetus for increased investment to drive our port infrastructure and equipment modernisation programme, coupled with the unflinching support of the Honourable Minister of Marine and Blue Economy, Adegboyega Oyetola, we have all it takes to further enhance trade facilitation, improve competitiveness and boost the national economy,” he said.

The NPA said the recognition is expected to strengthen investor confidence in Nigeria’s maritime sector and enhance the country’s position as a regional trade and logistics hub.

It noted that improvements in port operations are already contributing to increased efficiency in cargo movement and reduced delays at key terminals.

The authority also pointed to ongoing efforts to modernise port infrastructure and expand digital systems aimed at improving service delivery.

Earlier in February 2026, the NPA said the federal government had intensified efforts to position Nigeria as a leading maritime destination through port rehabilitation and modernization projects.

It also highlighted public-private partnership initiatives, including developments at the Lekki Deep Sea Port, as part of broader reforms aimed at improving efficiency and attracting investment.

The CPPI ranking is expected to further boost Nigeria’s maritime profile and encourage additional investment in the sector.


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PalmPay Joins Industry Leaders @ Digital Pay Expo 2026

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As digital payment adoption continues to grow across Nigeria and emerging markets, the next phase will depend not just on innovation, but on the strength, reliability, and trustworthiness of the infrastructure behind it.

While the ecosystem has made clear progress in recent years, trust remains a critical issue for users, businesses, and operators alike. Questions around resilience, security, interoperability and transaction reliability continue to shape how the market evolves and how confidently digital payments can scale.

These issues will be central to the deliberations at Digital Pay Expo 2026, where fintech leaders, payment operators, and other ecosystem stakeholders will gather under the theme, “Seamless Digital: Fostering Pan-African Market Expansion in the Era of AI.”

PalmPay’s participation reflects its continued commitment to building trusted and scalable payment infrastructure, while contributing to the broader industry efforts to strengthen systems, standards, and partnerships needed to support long-term ecosystem growth.

Speaking ahead of the event, Olorunfemi Hanson, Head of Marketing and Communications at PalmPay Nigeria, said: “As the financial services ecosystem continues to grow, trust and reliability become even more important.

“The industry’s next phase will be shaped not only by innovation, but by the strength of the infrastructure supporting it. Digital Pay Expo provides an important platform to address the resilience, interoperability, and trust issues that will shape the future of digital payments growth across Africa.”

The event, scheduled to be held from the 17th to the 18th of June, 2026, will feature Chika Nwosu, Managing Director of PalmPay Nigeria, alongside other distinguished guests, including the Director-General, Payment System Management Department (PSMD), Central Bank of Nigeria. The event will examine how the industry can balance innovation, regulation, and scalability while strengthening trust across the digital payments value chain.

For PalmPay, this event reinforces its role in supporting a more resilient, secure and scalable payments ecosystem for Nigeria and emerging markets more broadly.


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