News
CNN Explores why Nigeria’s Newest Investors are Turning to Tech

In the latest episode of Marketplace Africa, CNN’s Larry Madowo takes a look at how financial technology companies in Nigeria are building their consumer base by helping budding investors buy into cryptocurrencies, stocks, and more.

In recent years, young Nigerians have increasingly turned to digital investment platforms to grow their wealth.
One fintech company offering multiple options is Cowrywise, which has been trying to tap into Nigeria’s $3 billion financial industry since it launched in 2017.
Its co-founder and CEO Razaq Ahmed says there was a need to meet young people where they are, “We are at the stage in Nigeria, where we have a lot of digital expression in our lifestyle. And what that enables us to do is, an automatic platform to reach out to people in a way that ordinarily wouldn’t have been possible.
“What we’ve done is to make investment as simple as sending a tweet, and that resonates a lot with the younger generation. And that is the next stage for investment, not just in Nigeria, it’s a global trend.”
Homegrown platforms like Buycoins say their users, largely composed of millennials, are taking advantage of its benefits. Buycoins co-founder Tomiwa Lasebikan explains, “Nigeria is very culturally entrepreneurial. And people want to take a lot of risks. But then there have been very limited opportunities to do so.
“What you have with crypto today is access to global financial opportunities and people who already have the inclination towards taking a bit of risk are actually able to try their hands at that.”
Both Cowrywise and Buycoins say that user behaviour on their platforms is giving them hope for the future. But both also recognise the challenges facing the fintech sector in Nigeria.
Lasebikan tells CNN about the need for more support from reputable institutions, “The more reputable institutions and traditional institutions get involved in the space, the better it is. We’ve tried to put in a lot of effort into encouraging more reputable fintechs, more reputable banks to understand the space and to be more willing to have a vested interest.”
Ahmed also speaks about these challenges, and the need to reduce regulatory risks, “When you’re able to reduce the regulatory risk, it’s actually extremely important. Also, it also makes it easier for companies or for the participants in that space to easily attract investment, in order to actually expand and grow.”
For these industry players, strengthening the Nigerian economy will only help accelerate growth. Ahmed says he hopes young people will lead the way, “The economic managers needs to do their part, but the young people are already doing theirs.
“What they need right now is just a lever that can support their efforts to multiply the benefits. I’m extremely hopeful that the key to unlocking our future partly rests with the efforts and the innovation young people are bringing to the table right now.”
News
UK Government, Blue Sapphire Hub Partner to Accelerate Digital Adoption in Northern Nigeria

The UK Government, through its Digital Access Programme, has partnered Blue Sapphire Hub, a leading Civil Society Organisation, to scale digital literacy and inclusion in rural communities across Northern Nigeria.

This collaboration aims to empower underserved populations in targeted states by leveraging storytelling through digital influencers and community-driven initiatives to bridge the digital divide and unlock economic opportunities.
During a high-level stakeholder event in Abuja, government officials, development partners, innovators, and media representatives reaffirmed their commitment to advancing digital adoption across the region.
The discussions centred on practical strategies to ensure technology becomes a tool for progress and equality. Stakeholders agreed to scale digital literacy programs in rural communities by deploying digital influencers who can champion safe and inclusive technology use.
In addition, participants committed to supporting local innovators and startups through structured mentorship and funding opportunities, enabling them to develop solutions tailored to regional challenges.
The event also produced policy recommendations aimed at integrating digital safety and inclusion into state-level strategies, ensuring that adoption efforts are sustainable and secure.
Commending the initiative, the National Coordinator of the Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC), Dr Mukhtar Abdu, highlighted mentorship as a critical enabler for unlocking youth potential and said: “Mentorship remains one of the most powerful tools for unlocking the potential of young people.
Many youths have creativity and ambition but without guidance they struggle to navigate the digital landscape. Fasahar Zamani is a timely initiative that provides the support, safe spaces and direction they need to adopt technology confidently. With the right mentorship, our youths can innovate, grow and contribute significantly to Nigeria’s digital future.”
Also speaking, UK’s Department for Business and Trade, Head of Trade Policy and Market Access, Mujina Kaindama, said: “This initiative demonstrates how storytelling can drive policy and inspire action. We are proud to support efforts that promote digital inclusion and create opportunities for all.”
At the event, a 12-part short film series developed under the Accelerating Digital Adoption in Northern Nigeria initiative was also premiered. The series uses compelling narratives to showcase how technology can address real-life challenges and improve livelihoods.
Reflecting on the significance of the project, Founder of Blue Sapphire Hub, Maryam Lawan, stated: “Fasahar Zamani has sparked meaningful conversations about bridging the digital divide. The stories shared tonight reflect the resilience and creativity of Northern Nigeria and the immense potential of technology to empower communities.”
News
Cloud Energy Commissions 50kW Solar Mini-Grid in Plateau State, Sparks Rural Revival

Cloud Energy Photoelectric Limited, in furtherance of the strategic partnership with the Rural Electrification Agency, REA, has commissioned another Solar Mini Grid plant.

Managing Director, CEO, Cloud Energy Solar, Engineer Theophilus Nweke, flanked by Rural Electrification Agency Staff
This time a 50 KWhz Solar Mini-Grid plant at Namu, Plateau State.
The occasion was festive, with fulfilment that you could touch, as the 50 kilowatt solar-mini-grid restored light to Namu, community in Qua’an Pan LGA, after 20 years without power.
The immediate impact is the return of Namu to economic growth – businesses return to productivity, the local economies improve with the creation of many jobs.
Engr. Theophilus Nweke, managing director of Cloud Energy, in his address explained that his company committed financial and human resources to make this 50 kilowatt solar mini-grid a reality because of the urgent need to unlock the rich potentials of the rural Namu community.
He revealed that the Namu community is home to fifty rice mills, all to be powered by the solar-mini-grid plant.
Engr. Nweke observed that there was an urgent need to scale up the Namu solar mini-grid to two megawatts in order to enable it play a more significant role in the industrial development of the Qua’an Pan rural communities and Plateau State at large.
Addressing the leaders of the community, the renewable energy boss, observed that he heard a few complaints that the power was yet to reach them.
He opined that the long wait for power has stopped with the commissioning of the 50 kilowatt solar-mini-grid, which he described as the seed for a new era of reliable and steady power.
In his contribution, Abubakar Abba Aliyu, managing director, Rural Electrification Agency, explained that the African mini-grid program is a flagship initiative designed to support access to clean energy and promoting large scale investment in renewable energy in Africa.
It focuses on cost reduction levers.
He further explained that the project, here in Qua’an Pan, is not just a power installation. It is a symbol of transformation that will light up homes, power our businesses and create new opportunities for people and farms in the community.
The future of the renewable sector in Plateau State looked full of hope as the State Governor, Caleb Manasseh Mutfwang, assured all that renewable energy would receive priority attention now and in the future in his administration.
Cloud Energy Solar thus reaffirms the company’s capacity to unleash the potentials of rural communities. The Namu 50 Kilowatt Solar-mini-grid is another testimony of Cloud Energy’s unwavering commitment to catalyzing rural development through the solar-mini-grid technology.
In Namu, as in Ita Awoke community in Ebonyi State, where Cloud Energy installed a 100 Kilowatts solar-mini-grid, Children are fetching clean portable water from the public tap, the women are grinding beans, corn and other grains 24/7, and the rice mills are loading trucks of milled rice. In Namu, Cloud Energy Solar has energized another rural community.
News
Nigerian Man Sentenced in U.S. for Sextortion Scheme Leading to Death of American Student

A 27-year-old Nigerian national, Imoleayo Samuel Aina, also known as “Alice Dave,” has been sentenced to six years in prison by a U.S. federal court for his role in a sextortion scheme that led to the death of a 20-year-old American student.

The sentence, handed down by United States District Judge Joel H. Slomsky on Oct. 28, includes 72 months in prison, five years of supervised release, and restitution of $3,250.
United States Attorney David Metcalf announced the sentencing in a press release issued Saturday, Nov. 15, following a delay caused by the recent federal government shutdown.
The case stems from a January 2023 incident in which Jack Sullivan, a sophomore at Kutztown University in Pennsylvania, received flirtatious messages from Aina via Instagram. The exchange escalated to intimate photos on Snapchat, followed by threats demanding money.
Sullivan paid approximately $2,800, but Aina refused to delete the images. Less than 24 hours later, Sullivan was struck and killed by a train near the Jenkintown SEPTA station.
Aina was arrested in Nigeria alongside co-defendant Samuel Olasunkanmi Abiodun on July 31, 2024, and extradited to the United States with assistance from Nigerian authorities and the FBI. A third Nigerian, Afeez Olatunji Adewale, remains in Nigeria pending extradition.
Aina pleaded guilty in May 2025 to multiple charges including cyberstalking, extortion, money laundering conspiracy, and wire fraud. Abiodun, 26, was sentenced to five years in prison in June after pleading guilty to related charges.
U.S. Attorney Metcalf described Aina as “the driving force behind this sextortion scheme,” adding that the Department of Justice is committed to prosecuting overseas scammers who target American citizens.
“This case is a powerful reminder of the profound harm sextortion inflicts on young people and their families,” said Wayne A. Jacobs, Special Agent in Charge of the FBI’s Philadelphia Field Office.
The case was investigated by the FBI and Abington Township Police Department, and prosecuted by Assistant U.S. Attorney Patrick Brown.
The Justice Department acknowledged the critical support of Nigeria’s Attorney General, the Federal Ministry of Justice’s International Criminal Justice Cooperation Department, and the Economic and Financial Crimes Commission in facilitating the extraditions.
Telecom2 days agoT2 Condemns Misrepresentation of Industry Facts, the Spread of Disinformation Regarding IHS and Network Operations
Telecom2 days agoT2 Debunks Viral Posts on IHS Towers, Affirms Network Stability
General News2 days agoIHS Nigeria, FCT-HSES Begin Distribution of Smart Cooking Gas as Part of “Breathe Clean Air, Abuja” Campaign
Telecom2 days agoMTN Nigeria, WWF/NCF and UNDP Nigeria Announce the Top 10 Finalists of 2025 Nigeria PachiPanda Challenge
News2 days agoNigerian Man Sentenced in U.S. for Sextortion Scheme Leading to Death of American Student
General News2 days agoPrince Edward Hosts Global Youth Forum in Lagos, Champions Expansion of Duke of Edinburgh’s Award
Telecom2 days agoTelecoms Industry Cuts 383 Jobs in One Year
E-Financial2 days agoSERAP Demands Answers over Missing N3 Trillion in CBN Account















