General News
High Speed Internet Aids Entrepreneurship- Adalemo
Wande Adalemo, co-founder and chief operating officer, Oxygen Broadband Networks, Nigeria’s first metro Wireless Fidelity (WI-FI) network never saw a computer until 1998.
Today, Adalemo sits atop N1 billion broadband network company which has 10 hotspot locations in Lagos and seeking expansion to 100 locations in the state by 2015; and then Abuja, Port Harcourt and Kano.
Overtime, the Company has grown and has attracted institutional investors such as Google and MainOne Cable Company. WaveTek has also signified interest in investing in the company and to help boost broadband access in the country. Adalemo spoke to peter ugwu on Oxygen Broadband’s achievements so far and expectations.
Oxygen Broadband’s Mission
Oxygen Broadband is Nigeria’s leading WiFi provider, we have been building hotspots at different locations in Lagos and they are qualitative.
Right now we have ten locations, where people can go, get signed up and be connected to the internet. And then move ahead with our vision to go nationwide.
Our mission is to make sure everybody has access to the internet; not just signing up to the internet, but using high-speed internet. That is our major target.
We are not coming to your home, but at locations where users can easily reach us. Actually, the pilot scheme of the project offered a flexible, cost-effective and convenient Wireless Fidelity (WI-FI) connection.
It also made the convergence of various classes of service achievable, as stakeholders in Computer Village require extensive internet services. The pilot was a huge success with over 50,000 devices connecting over the network at that single location.
Level of Enthusiasm among Users
Nigerians want to get connected. The question is: where is the connectivity? Another question is: what is the price of the connectivity?
Currently, the connectivity is not there and the challenged is compounded by the high connectivity charges.
In other words, where the price is not the issue the connectivity quality is low. So what we are doing is giving high quality connectivity hotspots.
We want to be in locations where users can have access to the internet. We see Nigerians expresse happiness about this project; they actually move towards these locations.
It is a sigh of big relief to many, especially the low income earners and students. At one of the locations in Surulere, Lagos, we have thousand users who go there to have a feel.
Like I shared our observations at the ministerial briefing, young people from remote areas are hungry for internet.
Some of these young people would approach the adults in their neighbourhood, collect their phone and go to these locations, because they know they have 30 minutes free internet connectivity and do some amazing things. We were surprised; it happened that they were actually using that medium to research about their class works and do assignments.
That is enough empowerment. When government, non-governmental organizations or operators in the industry think or talk about youth empowerment, this is one project they can look at and see the essence and the huge impact it will have on the studies of these young people, through that the society becomes better place for all of us.
Our plan is to replicate this across Nigeria. That shows that Nigerians need something like this. We receive calls from people like someone would call in asking, ‘I am moving towards Okota please where is your hotspot around the route or how do I connect?’ Such calls give us the confidence that this project is worthwhile.
And that is why we made a pledge to Nigerians: To provide superfast reliable and affordable internet; to serve Nigeria with our entire network infrastructure and uphold her broadband access quality.
Is the Connectivity Just Free?
At certain time the connectivity is free. For instance, when someone signs up, he or she gets 30 minutes free airtime.
That is after first registration. Going forward, it is just N100 per hour and they are assured of maximum, unlimited internet access.
So, there is a free access to what we are doing. We want to bring change in the system; open up the gate for Nigerians to have access to the gateway to the world, seamlessly.
That is the motivation to stimulate even others that lack interest or have lost confidence in the system.
We just won WiFi Company of the year award and that was because research conducted showed we have the fastest internet gateway facilitating platform in Lagos.
Tackling Infrastructural Challenges
We collaborate. There is what I called the Broadband Infrastructure Ecosystem, which will make the broadband development in Nigeria to be effective.
I had at different fora shared story of how this project kicked off. I found it difficult to see who would believe in the project until I met a partner who was managing director of a bank then.
Meanwhile, I had met several potential investors who discouraged me, but I did not give up.
So, when I got to him, the first thing he told me was if fail to convince him in two minutes, then I have lost his interest.
He has a view that an idea that cannot hit someone in two minutes is no good idea. Well, I think I was able to hit him in two minutes and the next question he asked was how do we move?
From there we started working together. As the project progressed we discovered that we cannot get there without collaboration.
So, we collaborate with a lot of operators like Visafone, WaveTek, MainOne Cable Company, to deliver IT broadband.
We also go into partnership with venue owners, restaurants, malls, hotels; it is a collaborative things. If we do not build the ecosystem, broadband development cannot work.
I do not think we can go far without the ecosystem. However, we are the centre of that ecosystem.
Optimism and the Future of the Ecosystem
I am very sure that the operators are optimistic and ready to deliver the bandwidths to the last mile users.
So, I am sure we are on the right track when we embraced the ecosystem composition. We have to have to look at it from the angle of the number; that is the users. If the number is there why not go for collaboration.
Assisting Mobile Entrepreneurs
An average Nigerian is a gifted entrepreneur. We can do more when the internet is good. For instance, if you are moving from one spot to another, probably for business meetings, engagements or to cement partnerships, with speed internet connectivity in place, you can download, upload voice, data or video at any of the hotspots.
That will mean a huge success and progress for the entrepreneurs. Imagine when someone has no office, yet he does business online.
That is what infrastructure does; impacting and empowering lives. The benefits cannot be over emphasized.
Government’s Agenda for Broadband Development In Nigeria
I think from what the Minister of Communications, Mrs. Omobola Johnson told IT stakeholders recently; the Government is doing its best to address the challenges.
She is doing a lot and needs the support of industry players. Remember, it cannot be a perfect system in the beginning.
Yes, with few people who have access to the service offered in the country are not getting value for their money, but with the ecosystem I so much believe in we can always get to the right destination.
We have several players coming into the market, Nigeria should just wait, things will only get better.
Just like I said earlier, this project of several hotspots are designed after the original vision of the Federal Government of “Internet for everyone.
General News
Payaza Secures Dual Credit Rating Upgrades, Expands Footprints in Africa

Payaza Africa, a payments infrastructure company in Africa, has strengthened its market position with two major rating milestones.

While rating firm, DataPro upgraded Payaza from A to AA-, Intelligent Africa upgraded the fintech firm to an A- investment-grade credit rating.
A statement by the company said the recognition, which marks its fourth credit rating, further validates Payaza’s financial strength, operational discipline, governance standards, and long-term strategic direction.
“The latest ratings build on Payaza’s growing track record of institutional credibility, reinforcing confidence in its business model, performance, and resilience. Together, they position the company as a stable, future-ready player within Africa’s financial services ecosystem and a brand with increasing relevance in the global fintech space,” the firm said.
Commenting on the feat, Seyi Ebenezer, chief executive officer of Payaza Africa, said: “This milestone is a strong affirmation of the work we have done to build Payaza on a foundation of discipline, trust, and long-term value creation. Receiving our latest rating sends a clear message that Payaza is not only growing, but growing with strength, structure, and sustainability.
“For us, this is bigger than recognition. It reflects our commitment to building a world-class institution that can compete globally while continuing to serve businesses and consumers across the continent with excellence.
“Over time, our ratings journey has reflected more than strong financial performance. It speaks to a business built on disciplined execution, prudent management, and the ability to scale responsibly in a dynamic market. This has helped us stand out not only as an innovator in digital payments but as a maturing financial institution with the operational depth to compete globally.
“These new ratings are expected to further strengthen Payaza’s standing with investors, regulators, partners, enterprise clients, and the wider financial community. In a sector where trust, resilience, and compliance are increasingly central to long-term success, independent ratings remain a powerful endorsement of a company’s ability to manage risk, meet obligations, and sustain growth,” he said.
Beyond the ratings, Payaza is also expanding its innovation footprint with the introduction of “Chat and Pay by Payaza,” a new payment feature that enables merchants accept payments and generate receipts for their customers directly from WhatsApp.
The company is also rolling out a new storefront solution for business owners, called Shopaza. The platform enables business owners and merchants to sell products and collect payments with greater ease. These additions reflect Payaza’s continued focus on building practical, accessible tools that simplify commerce for businesses and consumers alike.
With its latest ratings and new customer-focused solutions, Payaza is reinforcing its role as one of the brands helping shape the next chapter of trusted financial infrastructure in Africa and beyond.
Payaza is a leading payment infrastructure company providing seamless solutions for collections, payout, and embedded financial services. The company is focused on building reliable, scalable, and trusted payment systems that support businesses and drive financial access globally.
General News
EFCC Declares Tejuosho, City Boys Movement’s Women Leader Wanted over “419”

Economic and Financial Crimes Commission (EFCC,) has declared Halimat Adenike Tejuosho, a women leader of the City Boys Movement, wanted.

Halimat Adenike Tejuosho,
A notice issued by the EFCC on Monday via X said Tejuosho has been declared wanted over an alleged case of obtaining money by false pretence.
The notice was signed by Dele Oyewale, head of Media and Publicity for the EFCC.
The anti-graft agency called on members of the public with useful information about her whereabouts to contact any of its offices nationwide.
The Commission also urged the members of the public to reach out via its official phone lines or email, or report to the nearest police station or other security agencies.
Recall that the City Boy Movement recently appointed Tejuosho as the South-West Zonal Women Leader.
According to a statement signed by the Movement, Tejuosho is to provide strategic leadership and coordination for women-focused activities in the zone, driving political mobilization, civic engagement, and advocacy.
General News
Afreximbank to Fund 3 New Refineries in Nigeria

African Export-Import Bank (Afreximbank) has disclosed plans to finance three additional refineries in Nigeria as part of a broader push to reduce the country’s reliance on imported petroleum products and strengthen local refining capacity.

Denys Denya, senior executive vice president of the bank, made the disclosure on Monday during a virtual media briefing focused on the institution’s 2025 financial performance, crisis response initiatives, and long-term industrialisation strategy.
“We are also financing refining on the continent, which will alleviate the importation of refined products. We are not only supporting Dangote; we’re supporting three other refineries in Nigeria,” Denya said.
The briefing, which focused on the bank’s 2025 financial performance, crisis response initiatives, and industrialisation strategy, also featured a question-and-answer session with journalists across Africa.
Denya explained that the push into refining is driven by recent disruptions in global supply chains, particularly linked to tensions in the Middle East, which have raised the cost and complexity of fuel imports for African economies.
According to him, Afreximbank has adopted a dual approach of supporting immediate trade finance needs while investing in long-term productive capacity to reduce structural import dependence.
He said, “For import-dependent economies, the cost of import is very high… so we have taken a proactive approach of engaging with financial institutions on the continent to increase their facilities so they can issue high-value letters of credit.”
The bank’s intervention is backed by a $10bn Gulf Crisis Response Programme, designed to stabilise access to essential imports such as fuel, food, fertilisers, and pharmaceuticals, while also supporting sectors exposed to global shocks.
Denya noted that the facility is already seeing uptake from countries including Kenya, Ethiopia, and Tanzania, warning that demand could accelerate if geopolitical tensions persist.
Beyond short-term interventions, the Afreximbank executive stressed that financing refining projects across Nigeria and other African countries remains central to the bank’s long-term strategy of industrialisation and export development.
He said the bank’s support for large-scale industrial projects, including the Dangote Group refinery, reflects its commitment to reducing Africa’s reliance on imported refined products and strengthening regional value chains.
“Our support for industrialists who are making a difference on the continent is testimony to this approach. We will continue to champion projects that reduce Africa’s reliance on imported refined products,” he added.
Denya further disclosed that the bank is financing similar refining projects in Angola as part of a continent-wide push to achieve self-sufficiency in petroleum products.
The shift towards local refining, he explained, is also expected to improve macroeconomic stability by reducing foreign exchange pressures associated with fuel imports.
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