News
Endeavor Partners Stears Data in Report on Future of Entrepreneurship in Nigeria

Endeavor, the global high-impact entrepreneurship network, has published a white paper in partnership with leading Nigerian data collection company Stears Data entitled “Protecting Nigeria’s Entrepreneurial Future”.

The white paper outlines a number of proposals for Nigeria’s government policymakers and the business community, as local startups and scaleups navigate the repercussions of the global pandemic. These include financial and non-financial support programs, as well as investment opportunities to boost existing funding efforts.
The Nigerian technology startup ecosystem recorded over $700 million in VC funding in 2019. According to the paper, 84% of startups have reported disruptions to their fundraising efforts, with 79% of startups having less than a six month buffer and only 6% have cash runway of 13 – 25 months.
Alongside the drastic impact on the local funding environment, startups have experienced significant declines in sales and revenue, disruption of business operations as a result of lockdown and the implementation of strategic staffing decisions by companies. It is now known that Nigeria’s GDP contracted by 6.1% in the second quarter of 2020.
The white paper highlights rapid intervention from policymakers and cashflow support as the most urgent startup needs, closely followed by bespoke interventions, tailored to the high-growth, innovation business model.
The need for startups, scaleups and investors to maintain flexibility to operate in ways that promote the growth of the innovation ecosystem, was also addressed as a focal point.
Endeavor is a mission-oriented organisation that is leading the global movement for high-impact entrepreneurship. Endeavor selects, mentors and accelerates the best high-impact entrepreneurs growth and underserved ecosystems, supporting them to scale their companies and drive local and regional economic growth.
Its growing local network of 10 high-growth, scaleup companies in Nigeria includes Paga, Kobo360, Carbon, Migo and Flutterwave.
Speaking on the launch of the white paper, Eloho Omame, Managing Director and CEO of Endeavor in Nigeria says, “At Endeavor, we believe firmly that the innovation ecosystem — the transformational startups and scaleups, and their founders, who are building sustainable growth models in Nigeria — are fundamental to economic growth and the fabric of our future economy.
This white paper shares our in-house perspective on proactive solutions that can be taken to minimise the negative impact on businesses and the economy and improve its prospects for the long term.”
Findings in the white paper were synthesised using real-time data collection from reports on startups in Nigeria and in other countries. An analysis of proposed mediations and policy measures by the Nigerian government mirrored against comparable responses in other countries worldwide was also done.
Data was gathered from impact surveys measuring the severity of the pandemic on 171 startups and scaleups in Nigeria, at different stages of growth in a variety of sectors.
Michael Famoroti, Chief Economist at Stears adds, “The global crisis could already be the definitive economic event of this new decade, and we still have the opportunity to ensure the policy response is of a similar proportion.
The white paper recommendations should be the start of a broader conversation about how to get the best out of Nigeria’s innovation ecosystem—naturally, that means figuring about the role that governments should play.”
Omame concludes, “It is paramount that the survival of our startups and scaleups during this economic downturn is prioritised with the implementation of solutions tailored to their specific needs. Our post-crisis recovery as a country depends on it.
“We hope to see a more united effort from government and policymakers that ultimately benefits startups and scaleups as our economy navigates the road to recovery”.
News
Access Holdings Sets New Benchmark in Nigeria’s Finance Talent Pipeline

New data from CFA Society Nigeria is reshaping how the country’s financial sector thinks about talent development, with Access emerging as the single largest source of CFA candidates in Nigeria, distinction industry watchers say signals a deeper shift in how leading institutions are building investment expertise from within.

In its Where Nigeria’s Finance Professionals Work series, published in a national daily, CFA Society Nigeria placed Access first among employers of CFA candidates nationwide, with 82 candidates enrolled in the programme, more than double the 38 recorded at the next-placed institution and well ahead of every other bank or financial services firm on the list.
Access also ranked second among employers of CFA charterholders, with 11 professionals who have completed all three levels of the Programme and met its experience and ethics requirements.
For an industry that has long measured itself by balance sheet size and branch count, the rankings point to a different kind of competition: one over who is building the deepest bench of certified, globally credentialed talent.
CFA Society Nigeria compiled the data from its Salesforce Membership Database as at June 2026, and described the exercise as a way of recognising employers whose people “bring rigour, integrity and global best practices into the workplace every day.”
Analysts following the sector say the outcome is notable less for the ranking itself than for what it suggests about talent strategy across Africa’s financial services industry. A single institution developing more aspiring charterholders than the rest of the market combined raises the floor for professional standards nationally, not just within one balance sheet.
Every candidate who advances through the CFA Programme adds to a shared pool of ethics-trained, analytically rigorous professionals that Nigeria’s capital markets, pension funds and asset managers all eventually draw from.
Access Holdings Group Chief Executive Officer Innocent C. Ike, commenting on the rankings, framed the achievement in terms of institution-building rather than recruitment: “Every candidate on that list represents our commitment to building institutions and professionals that endure.”
The remark echoes a broader thesis increasingly voiced by market observers, that talent depth, not scale alone, is what will determine which African financial institutions earn lasting global credibility.
That distinction sits at the centre of Access’s stated ambition to become the World’s Most Respected African Financial Services Group. If the CFA numbers are any indication, the Group’s route to that goal runs less through square metres of branch network and more through the calibre of the people sitting inside it, a bet that Nigeria’s finance professionals, and the institutions that will one day hire them, are already placing alongside Access.
News
NCAA to Introduce RFID Technology to Tackle Missing Luggages

Nigeria Civil Aviation Authority (NCAA) has announced plans to introduce Radio Frequency Identification (RFID) baggage tracking technology across domestic and international airport terminals to tackle the growing problem of delayed, misrouted and missing luggages

Michael Achimugu, director, Public Affairs and Consumer Protection, NCAA, disclosed this at a stakeholder engagement forum in Lagos.
Achimugu said the RFID-enabled system would replace the traditional barcode-based baggage tracking framework and provide airlines and passengers with real-time visibility of checked luggage from check-in to final collection.
According to him, the technology would improve baggage traceability, reduce mishandling and strengthen accountability across the baggage-handling chain.
Unlike conventional barcode systems, RFID technology allows baggage to be automatically scanned at multiple points without requiring direct line of sight, enabling real-time tracking of luggage throughout its journey.
Achimugu said issues involving short-landed, missing, lost or damaged baggage had remained among the major complaints from air travellers, alongside flight delays.
He said the introduction of RFID technology was therefore aimed at improving baggage-handling standards and restoring passenger confidence in the aviation sector.
The NCAA said the initiative also aligns with IATA Resolution 753, which requires airlines to track baggage at key points during the passenger journey.
The authority expects the technology to provide more accurate information on the location of luggage, facilitate quicker resolution of baggage-related complaints and improve the overall passenger experience.
The NCAA said the initiative would also strengthen accountability among airlines and other stakeholders involved in baggage handling at Nigerian airports.
News
Firm Urges MSMEs to Increase Digital Payments Adoption for Growth

eTranzact International Plc has called for increased adoption of digital payment solutions among micro, small and medium enterprises (MSMEs), saying access to technology is critical to improving business efficiency, financial inclusion and growth.

The company also said it was deepening its partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to expand digital access and financial literacy among small businesses across the country.
In a statement, the Divisional Head, Merchant Services, eTranzact, Mrs. Abimbola Reis, stated this at the SMEDAN/eTranzact Town Hall Engagement in Lagos recently, themed, “Financial Literacy and Inclusion for MSMEs Leveraging on Fintech Innovation.”
Reis described MSMEs as the backbone of Nigeria’s economy, noting that the sector comprises almost 40 million businesses and contributes significantly to economic growth and job creation.
However, she said many businesses continue to face challenges including limited access to finance, inefficient payment systems, weak financial reporting, cash-flow constraints and inadequate access to digital platforms.
She added that trust concerns also affect businesses’ ability to access finance, while heavy reliance on cash increases exposure to theft and makes payment reconciliation more difficult.
Representing the Director-General of SMEDAN, Prof. Yinka Fisher said the town hall was aimed at generating practical ideas and solutions that would support the growth and expansion of MSMEs.
“The essence of this engagement is to share ideas and concepts that will help MSMEs thrive and expand. Our partnership with eTranzact is about expanding the frontiers of MSMEs and ensuring they continue to grow,” he said.
Also speaking, representative of the Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dr. Praise Adedigba said businesses could no longer depend solely on hard work to remain competitive.
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