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Serial Entrepreneurs Outline Four Success Factors at CFA’s Startups Hangout

Startups in Nigeria will stand a better chance of succeeding in their entrepreneurial pursuit, if much focus and attention is directed to proper visioning and detailed planning.
Speaking recently at the second edition of the CFA’s Startups Hangout, Mazi Sam Ohuabunwa, Founder Sam Ohuabunwa Foundation for Economic Empowerment (SOFEE) tasked Nigerian startups to give out all they could to achieve success in their entrepreneurial journey.
He said in the journey of life especially in doing business, there four critical factors that are important, when running a business and the application of these four factors usually go a long way in ensuring that success is achieved.
“I have studied successful people and discovered that there are things they do which other unsuccessful people are not doing. Most times, I found out
it’s usually three of the principles are the most common, but the fourth factor remains the key amongst them”.
“Successful people develop a vision, plan properly, and are highly passionate but the fourth factor is the God factor. I have been thought many and different things in school, but nobody teaches you the God factor in school”, Mazi Sam said.
He told entrepreneurs at the event that vision is the ability to anticipate where you are going before the journey starts, insisting that having a laid down vision remains germane in the success world.
“You just have to imagine the end from the beginning, and there must be a detailed plan that will define the modalities of how to achieve that vision, driven by passion,” he said.
He said outlining a significant plan and critically analysing what is achievable provides a better chance of making a vision realizable, stating that passion must be engineered in the entire process to achieve great results.
He explained that the fourth factor is the God factor which is the ultimate in the entire journey.
“I have had several personal experiences when dealing with God, if you can ask him anything in his name and believing that he will do, he will do. God should be prioritized in the journey of life, he concluded.
According to Rev. Folayan Sunday, a renowned Internet Protocol Network Engineering Consultant and Educator, he emphasized that integrity has a major role that it plays in the world of business, irrespective of the fact that a growing number of businesses no longer imbibe integrity.
“Integrity still rules in business today in as much as you are creating an irresistible value to your customers, adhering to the right process and the needed technology.”
He explained that business should be seen as borderless as a venture, as businesses are becoming dynamic, but still maintains the same process and methodology.
“For instance, technology has always been there, the same method, starting a business follows the same methodology, the principles have not changed, what has changed is time and actors.
He advised startups to develop the attitude of asking their customers areas of improvements in the form of feedback, urging them to add value and increase their value propositions by creating compelling and ubiquitous products.
The March edition of CFA’s Startups Hangout comes up on the 17th of March, 2017 by 5pm and it will feature Nkemdilim Begho, CEO, Future Software & Atul Kshetry, CEO, IDM. Interested participants can register:
News
EFCC Which Handles Sensitive Data, Financial Records has No Privacy Policy on Website- FiJ

Economic and Financial Crimes Commission (EFCC) does not currently maintain a public privacy policy on www.efcc.gov.ng, its official website.

Ola Olukoyede, EFCC chairman, EFCC
This is despite partnering with the Nigeria Data Protection Commission (NDPC) to ensure data compliance according to findings by Foundation for Investigative Journalism (FIJ)
As a law enforcement agency, the EFCC handles highly sensitive personal data and financial records, but its main web portal does not currently provide a formal, publicly available privacy policy detailing how user data is collected, stored, or processed.
According to the National Information Technology Development Agency (NITDA), all government websites are mandated to have privacy policies.
Section 10.4 (i, ii) of the NITDA Privacy Policy mandates all government websites to exercise diligence when collecting personal details or information about visitors to their websites.
It equally requires all government websites to incorporate prominently displayed privacy statements clearly stating the purpose for which information is being collected where the government institution seeks to or collects personal information from visitors through its website.
In addition, the Nigeria Data Protection Act (NDPA) 2023 requires every data controller to make a privacy notice available to citizens before or at the point of collecting their personal data.
That notice must state the specific lawful basis of processing, the purposes of the processing, the categories of recipients of the personal data, the existence of data subject rights, and the right to lodge a complaint with the Commission.
The law further states that such information must be contained in a privacy policy and expressed in a clear, concise, transparent, intelligible and easily accessible format, taking into consideration the class of data subjects targeted by the data processing.
However, on Monday, FIJ checked the anti-graft agency’s website and found that it had no privacy policy or privacy notice informing users how their personal data is collected, processed, stored or shared.
FIJ found that Nigerians can submit petitions to the EFCC on the website.
During this process, the website compulsorily collects personal data such as names, National Identification Numbers (NIN), email addresses, local government areas (LGAs), phone numbers and residential addresses.
Also, organizations and financial institutions (such as commercial banks) are legally mandated to share customer information and suspicious transactions with the EFCC to prevent financial crimes.
However, the website collects this information without specifically informing users what happens to the data they provide.
Ironically, in September 2024, the EFCC and the Nigeria Data Protection Commission (NDPC) agreed to forge a partnership and collaboration towards strengthening cyber data protection in the country.
The agreement was reached in Abuja on September 18, 2024, when Vincent Olatunji, national commissioner and chief executive officer of the NDPC, led a delegation of management staff on a courtesy visit to Ola Olukoyede, EFCC chairman, at the commission’s corporate headquarters.
Despite partnering with Nigeria’s data protection regulator, the EFCC still has no privacy policy on its website.
At press time, the EFCC met none of the privacy policy requirements stipulated by both NITDA guidelines and the NDPA 2023.
News
Moniepoint DreamDevs Bootcamp Second Cohort Set for Demo Day

Moniepoint is proud to announce that the second cohort of its flagship DreamDevs Bootcamp is set to culminate in a Demo Day celebration on May 26, 2026, at its Ikeja facility. The event, themed “Training Done! Demo Up!”, will showcase the capstone projects built by participants following nine weeks of intensive, industry-grade software engineering training.

The DreamDevs Bootcamp is Moniepoint’s commitment to identifying and developing the brightest engineering talent across Africa. The nine-week intensive programme is designed to immerse participants in real-world, practical software engineering through a curriculum spanning Java OOP Foundations, Data Structures & Algorithms, Testing, MySQL & JDBC, Spring Boot APIs & System Design, Docker & Messaging Queues, Frontend UI & Cloud Infrastructure, and core Practical Software Engineering Concepts. In recognition of their commitment and effort, cohort participants are paid monthly throughout the duration of the programme.
The curriculum was developed by the Engineering Unit at Moniepoint and delivered in partnership with Semicolon, a leading technology education institution. Admission to the DreamDevs Bootcamp is highly competitive, with only top performers advancing through multiple stages of assessment, including a HackerRank technical test and an in-person code challenge, before earning a place in the programme.
Felix Ike, Co-Founder and CTO of Moniepoint, reflected on what the programme means to the company and the country, “Engineering excellence is a curated and intentionally built process that requires the right systems, resources, and time. The DreamDevs Bootcamp is our way of taking that responsibility seriously.
“We designed a programme that does not just teach syntax or frameworks, but develops engineers who can think, solve, and build at the highest level. Seeing graduates from our first cohort already thriving within our engineering team tells us we are on the right track, and we are excited to see what this second group brings to Demo Day.”
Some of the first cohort’s successful graduates are now active members of the Moniepoint engineering team, a testament to the programme’s effectiveness and its role as a genuine pipeline for world-class engineering talent.
The DreamDevs Bootcamp reflects Moniepoint’s broader mission to invest in Nigeria’s talent and build engineering capacity that can compete and lead on a global stage. Moniepoint looks forward to welcoming the second cohort to the fold and witnessing the innovative solutions they have built.
News
FG Unveils Free Tax Dispute Resolution Platforms for Nigerians

Federal Government on Monday unveiled digital platforms under the Office of the Tax Ombud, enabling Nigerian taxpayers to resolve tax-related disputes free of charge as part of efforts to improve fairness, transparency and accountability in tax administration.

Taiwo Oyedele
Taiwo Oyedele, minister of finance and coordinating minister of the economy, disclosed this during the launch of the Tax Ombud website, toll-free call centre and case management system at Stratton Hotel, Abuja.
Oyedele described the initiative as a major milestone in Nigeria’s fiscal reform agenda, saying the platforms would make tax dispute resolution more accessible to taxpayers nationwide.
“Taxpayers, regardless of location, can now engage more easily with the dispute resolution process without unnecessary administrative bottlenecks or delays, and the good news is that it is entirely free,” he said.
According to him, the Office of the Tax Ombud was established to strengthen taxpayer protection and boost confidence in Nigeria’s tax administration system.
He said the institution would serve as an independent and impartial platform for resolving complaints, mediating disputes and addressing systemic tax issues across the country.
Oyedele added that the initiative aligns with the Federal Government’s broader tax reforms aimed at simplifying tax administration, reducing arbitrariness, protecting taxpayer rights, encouraging voluntary compliance and building a globally competitive fiscal system.
“As we unveil these platforms today, let this mark a new era in tax administration in Nigeria, where taxpayers are treated not as adversaries but as partners in national development,” he said.
Minister of Information and National Orientation, Mohammed Idris, said Nigerians needed more awareness about the role of the Tax Ombud in supporting the economic reforms of President Bola Tinubu’s administration.
Idris said the government’s economic reforms were beginning to yield positive results, citing improvements in revenue performance and investment inflows.
Also speaking, Head of the Civil Service of the Federation, Didi Walson-Jack, described the platforms as citizen-centred reforms designed to improve public access to tax complaint resolution.
She said tax administration should not only focus on revenue generation but also on strengthening trust and confidence in public institutions.
Nigeria’s first Tax Ombudsman and Chief Executive of the Office of the Tax Ombud, John Nwabueze, said the office was established under Part Six of the Joint Revenue Board of Nigeria Establishment Act 2025 to promote fairness, transparency and efficiency in tax administration.
He said the digital platforms would allow taxpayers to lodge complaints online or through the toll-free centre, track cases in real time and access mediation services without resorting to prolonged litigation.
Executive Secretary of the Joint Revenue Board, Olusegun Adesokan, said the office was created to protect taxpayer rights and mediate disputes between citizens and revenue authorities at no cost.
Special Adviser to the President on Economic Affairs in the Office of the Vice President, Tope Fasua, said the Tax Ombud forms part of the broader tax reform agenda initiated by the Presidential Fiscal Policy and Tax Reform Committee.
He noted that the reforms are aimed at widening the tax net while exempting small businesses and low-income earners from additional tax burdens.
In June 2025, President Tinubu signed four major tax reform bills into law, including the Nigeria Tax Act, in what government officials described as a comprehensive overhaul of the country’s tax system.
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