News
Jumia Rolls out Mouth-watering Offers @ 8th Anniversary
Jumia Nigeria, the leading e-commerce platform has announced new sizzling offers to new and existing customers to celebrate its eighth-year anniversary of online marketplace operations.
The company also said it has contributed immensely to the growth and capacity building of small and medium scale enterprises (SMEs) in Nigeria since inception, especially during the recent lockdown imposed by the government in response to the COVID-19 pandemic.
These announcements were made at the eighth anniversary press conference themed “Stronger Together”, by Massimiliano Spalazzi, Jumia Nigeria’s CEO which held on 17 June, 2020.
According to Spalazzi, Jumia made a sustainable impact on Nigeria’s economy during COVID-19 lockdown, a positive impact the company intends to sustain on SMEs and help consumers in Nigeria to save money and time with this year’s anniversary campaign.
“In the last few months, we’ve seen that e-commerce is crucial to the Nigerian economy. We have seen more people shifting their activities online at a faster pace, working and shopping are coming online faster than we thought and never like before.
“We saw new and returning customers coming on our platform to shop from the safety of their home. Jumia became a place where communities across Nigeria came to buy all sorts of products – groceries, fashion.
During the recent lockdown period, more brands come online to partner with Jumia by putting their products and services on our platform or advertising offers on Jumia Advertising. Within the period, we focused our attention on safety as much as possible to ensure safe delivery of products from our platform.
“We implemented contactless delivery, and helped by JumiaPay which allows you to pay for the product before it is delivered or pay at the doorstep through a contactless approach,” the CEO went further to said.
In her own presentation during the press conference, Omolola Oladunjoye, the Chief Commercial Officer at Jumia Nigeria informed the audience that, in line with the company’s theme for the eighth anniversary, Jumia has put together various promotional offers to entice and reward its new and existing customers. She listed Samsung, Dettol, Nexus, Intel, HP and Unilever as some of the brand partners for the anniversary campaign.
“These two-week promotional offers, which will commence on 22 June, will see many new and existing customers win various freebies, buy items at highly discounted prizes of up to 99 percent, as well as enjoy free delivery on most of the items,” she said.
On the promotional offers, Spalazzi explained that the anniversary will be a celebration of solidarity targeted at benefiting customers, partners and sellers on the platform.
“The core of Jumia anniversary will focus on customers and partners. We want to empower existing sellers and businesses to benefit on the Jumia anniversary. This is one of the times we generate more traffic and we want vendors to benefit from more sales, and we will onboard new businesses throughout this period,” he concluded.
He reeled out Jumia’s gestures as a responsible corporate citizen during the lockdown and stated that the company will continue to create sustainable impact in our communities .
“We donated 100,000 certified masks to the Federal Ministry of Health. We also gave out a free advertising slot on our platform to the Federal Ministry of Health to sensitize the public under our “Stay Safe’ campaign. We also gave a free advertising slot to support an NGO which was committed to the cause of helping people during the lockdown. We are committed to sustaining these impacts we created during the lockdown and it in many ways.”
Xora Finance has announced it will no longer consider job applicants from Nigeria.
Xora Finance is a digital bank founded by Joren Lundgren, in February 2026 and allows users to deposit and earn interest on their XRP cryptocurrency.
Lundgren, founder, in an announcement on X (formerly Twitter), cited an ongoing pattern of misconduct, such as dishonesty and theft, from previous Nigerian hires as the reason for the decision.
This sudden blanket ban came just days after the company’s official career page was aggressively recruiting remote workers for marketing and content roles.
The announcement generated heavy backlash online, with many people upset that a blanket rule punishes honest job seekers.
Some lawyers have said that victims of Ponzi schemes have legal remedies, although recovering lost funds and prosecuting perpetrators remain major challenges.
A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new participants rather than from actual profits.
Operators lure victims by promising high returns with little to no risk.
The scheme inevitably collapses when the flow of new investors slows down.
Some lawyers who spoke to News Agency of Nigeria (NAN) separate interviews with on Sunday, said that victims could pursue civil actions to recover their money.
Mr Chibuikem Opara, a lawyer at Justification Chambers, Ikeja,said many Nigerians continued to fall victim to Ponzi schemes in spite of repeated warnings.
Opara said it was wrong to attribute participation in Ponzi schemes to a lack of investment opportunities, noting that promoters often exploit investors’ greed through promises of unrealistic returns.
“What you cannot take away is the fact that many Nigerians have fallen and continue to fall victim to these schemes every time,” he said.
According to him, victims may individually or collectively institute civil actions against the beneficiary company for breach of contract or refund arising from failure of consideration.
Opara said victims could also unite to seek an order from the Federal High Court to wind up the beneficiary company.
He, however, noted that such efforts might yield little benefit if perpetrators had already siphoned the funds and left behind an empty shell.
The lawyer said available remedies largely depended on the actions of relevant authorities, adding that recipient accounts could be frozen to facilitate fund recovery and support winding-up proceedings.
Opara said regulators and law enforcement agencies often became aware of Ponzi schemes only after substantial losses had occurred.
According to him, victims frequently failed to report suspicious schemes early enough to enable timely intervention.
He added that funds are sometimes moved outside the country before authorities become aware of the fraud.
Opara also cited inadequate information and the deceptive nature of the schemes as major obstacles to investigation and prosecution.
“Most times, everything about the schemes is made to appear elusive, just like the profits promised to victims,” he said.
Also speaking, Mr Vincent Aminu of A.F. Aminu and Co. advised that victims of investment scams should report such cases to appropriate law enforcement agencies on time.
Aminu said victims could petition the Economic and Financial Crimes Commission (EFCC) or file reports with the police.
He said that after investigation, prosecutors could bring charges against suspects under relevant fraud-related laws, including provisions of the Criminal Code and the Advance Fee Fraud and Other Fraud Related Offences Act.
Beyond criminal prosecution, Aminu said .victims could pursue civil actions to recover their money
According to him, such actions may be based on breach of contract, unjust enrichment, or fraudulent misrepresentation, depending on the circumstances.
He added that victims could petition the Securities and Exchange Commission (SEC), which could investigate illegal operators, shut down unauthorised platforms, and freeze assets.
He identified the anonymity of online fraudsters as one of the biggest challenges confronting investigators.
According to him, many operators concealed their identities through fake digital profiles and technologies that made tracking them difficult.
Aminu also noted that victims who delayed taking legal action risked losing opportunities for redress.
He added that prolonged court proceedings often delayed justice for victims.
“Many fraud-related cases take years before the court reaches a verdict, thereby delaying justice for victims,” he said.
Also, Mr Chris Ayiyi of Ayiyi Chambers, Apapa, described Ponzi schemes as a gamble that benefited early participants at the expense of later investors.
Ayiyi said some early entrants received returns on their investments, thereby encouraging others to join the schemes.
He said the schemes eventually collapsed, leaving late investors to bear the losses
The lawyer called for a complete ban on Ponzi schemes or sustained public enlightenment campaigns against them.
He urged the National Assembly to enact laws that would strengthen regulation and provide greater protection for investors.
According to him, stronger legal safeguards are necessary in a country operating a capital-based economy.
PalmPay Group (“PalmPay”), a multinational fintech company providing digital financial services across high-growth emerging markets, is pleased to appoint Samuel Oluyemi as Chief Operating Officer (“COO”) of its Nigeria practice, effective immediately.
The appointment comes at a pivotal moment for PalmPay as it looks to reach more underserved communities and continuously strengthen the reliability and security of its services. It also comes as Nigeria’s broader financial services sector continues to modernize, bring millions more Nigerians into the formal financial system, and strengthen the cybersecurity and fraud-prevention standards that underpin public confidence in digital payments.
As COO of PalmPay Nigeria, Mr. Oluyemi will oversee PalmPay’s Nigerian operations — where the company provides a full suite of digital financial services to individuals and businesses — and communicate with regulators to ensure the company’s growth happens harmoniously with the country’s financial, digital, and social inclusion goals.
Mr. Oluyemi brings more than two decades of experience at the Nigeria Inter-Bank Settlement System (“NIBSS”). During his tenure as the Business Development Lead, he championed the development of key national payment services — including the Digital Validation of Nigerian International Passport (e-Passport Validation), Electronic Dividend Mandate Management System (“e-DMMS”), and the Electronic Pensions Contribution Collection System (“EPCCOS”) — and played a pivotal role in introducing and driving early adoption of NIBSS Instant Payment (“NIP”), Nigeria’s first online, real-time, inter-bank transfer system in 2011 and its subsequent extension to the Other Financial Institutions (“OFI”) segment of the Nigeria Payments System.
He holds an MSc in Monetary Economics from the University of Ibadan with extensive local and international professional training.
“Samuel joins PalmPay at an important stage in our journey to strengthen the foundations that will support our long-term goal of driving financial inclusion,” said Chika Nwosu, Managing Director of PalmPay Nigeria. “His extensive experience makes him well positioned to help us scale sustainably while maintaining the operational discipline, governance and customer-first culture that define PalmPay.”
“PalmPay has established itself as one of the most impactful fintech companies in emerging markets by making financial services more accessible and affordable for millions of people,” said Mr. Oluyemi.
“I am excited to join the company and look forward to working alongside an exceptional team to strengthen operational excellence and support PalmPay’s vision of building a leading digital financial services platform. Together, we will continue delivering secure, reliable, and customer-focused financial solutions while contributing to the continued evolution of Nigeria’s digital financial ecosystem.”
As Nigeria’s digital financial services sector continues to mature, this appointment reflects a broader commitment guiding PalmPay across all markets it serves: building financial services that are secure, reliable, and effective enough to earn a permanent place in people’s everyday lives.
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