General News
Key Dimensions that Will Drive Nigeria Online Marketplace Space in 2016- Masha

Lola Masha is the country manager, OLX Nigeria, the leading online classifieds player in the country. Masha joined OLX Nigeria in February 2014 with the goal of building a world-class, trusted and secured online classifieds business that stands out from its competition.
She holds PhD. in Engineering from the University of California, Berkeley. Masha is an outstanding individual with expertise in business development, entrepreneurship, operational transformation, strategy and product development, across numerous industries including technology and consulting.
She has significant international experience and has worked with brands like Google and McKinsey Consulting. In this interview with Peter Ugwu, she swiftly reviews e-commerce space in Nigeria in 2015 while discussing OLX’s ambition for growth in the market in the new year.
Assessment of the Online Marketplace in Nigeria in 2015
It has been an exciting and rollercoaster year. If I compare our successes to the challenges, I think it has been very successful. We started the year with a team of ten (10), but today, both the contract and fulltime staff we are close to 175 people.
So, we have grown tremendously in terms of staff strength. We also look at traffic to the website, we have grown to over 65% from January till date.
We have continued to get positive responses from the users on OLX platform. Because of this, we have made improvement in terms of awareness among the Nigerian online community.
Increased Partnerships
Our partnership over the year were fantastic. One thing we believe in at OLX is that we can’t do it alone. We have a culture of collaborations, partnerships and learnings.
So, we actually, actively, seek other organisations to work with; grow the brand and be able to contribute towards the industry’s growth here in Nigeria.
We have been very pleased with the results from our various partners and tend to do more in 2016 and moving forward.
Nigeria Online Marketplace Market Maturity
The Nigerian online market place has definitely improved, but still quite young. If I look at the percent of Nigerians currently using online classified, irrespective of platform, I think the percentage is still low and needs to improve.
As an industry, we still have a lot of work ahead of us, but we should be able to celebrate how far we have gone in educating the Nigerian users on how to trade safely and successfully on OLX.
Competition
Absolutely, competition has pushed us to be innovative to stay ahead of the game. When OLX started three years ago in Nigeria, the platform wasn’t the first (in the country), and we know how hard we had to work to get to the number one position; if possible to overtake the current players.
So, constantly, we are on our toes, innovative and definitely not relaxing in anyway. We are confident that with the team, ideas and products we have we are positioned to meet the demands of our users and succeed in Nigeria.
Winning and Maintaining Users’ Confidence
It has been very positive, been the response rate from OLX users. If I think about the reactions we have been getting this year versus last year, frankly, it has been 360 degrees turn around.
We have to do that again by focusing on trust and safety. We are doing everything possible to keep the site safe for the Nigerian people, prioritizing those elements that are peculiar to us.
OLX’s View About The market
We are positioned for success. We are long term investors, not for quick wins. We are here to play, stay and win.
E-Commerce Platforms and Cybersecurity
During the year, OLX in collaboration with MOMO and other stakeholders’ oraganised a session where issues on e-commerce space in Nigeria and the cyber related security issues were extensively discussed.
Part of the event was to showcase some of the technology and human elements we have deployed to protect our users on the website, including physical verifications. We have close to 160 people in field in Lagos, who physically verify items.
That has worked very successfully. We have changed the OLX platform; it looks very different now. During the process of changing the platform, we integrated some security apparatuses that allow us to dictate fraud related postings.
Corporate Social Responsibility
We engaged in some CSR programmes during the year and they are now not a sort of one-off thing. CSR is a continuous activity for us.
We engaged in OLX-Gives-Back campaign to support the School for the Blind and other charitable organisations.
This December, we supported a campaign called ‘Fit Yaba’ and the idea was to race consciousness around health and reducing illnesses. We supported the organization in collaboration with the Co-Creation (CC-Hub) and others.
Predictions for 2016
We expect to have our best year ever in the country in 2016. Every year has been interesting and exciting, and we have learnt a lot, but believe 2016 is our year of new growths, developments, and more successes.
On general perspective, there are three different dimensions to consider. First, change of perception around trust and safety of the classified e-commerce model. Secondly, there will be more players in the field, which will help to educate users, so that an average Nigerian will be educated on how to trade safely. We also expect growth to happen in a very big way. Once users are aware on how to simply use OLX, we expect the adoption to increase.
We have seen this trend in verity of technology platforms. When the mobile phone was introduced in Nigeria, it was from a very small base.
The Phones, SIM cards were very expensive, but currently, we have about 155 million mobile subscribers. That is phenomenal growth and due to the power of perception.
Once Nigerians understand how technology works, see the real value and how it impacts their lives, Nigerians are fast adapters. We expect the same with online classified ad as well. We have seen this happen with the messaging platforms like WhatsApp and Facebook. The rate at which they have grown and successful in Nigeria, again, speaks to the fact that once a products creates value, Nigerians will definitely come on board.
I must say that 2015 has been a great and fantastic year. We appreciate our numerous users for their continuous support and feedbacks and we look forward to a more exciting year in 2016
General News
NITDA DG Calls for Innovation-Led Economic Rebirth @ Kano Startup Weekend

Kashifu Inuwa, the Director General of the National Information Technology Development Agency (NITDA), has called for a fundamental shift in Kano State’s economic strategy, urging stakeholders to embrace innovation, technology and collaboration as the drivers of growth in the 21st century.

Speaking at the Kano Startup Weekend, Inuwa acknowledge Kano’s long-standing reputation as the commercial nerve centre of Northern Nigeria and the wider Sahelian region, noting that its history of trade, enterprise and human capital provides a solid foundation for future growth.
He emphasised that while these strengths powered Kano’s success for centuries, the modern economy now offers even greater opportunities through innovation and technology.
He described innovation as the process of transforming ideas into impactful solutions through commercialization, stressing that when ideas are effectively deployed, they create value, solve societal challenges and generate sustainable economic growth. He noted that Kano’s large market, strategic location and vibrant entrepreneurial culture place it in a strong position to take advantage of innovation-driven opportunities.
According to him, “Innovation is the process of taking an idea from inception to impact. Invention on its own is a cost centre, but when you commercialise an idea, when you turn it into a product or service that solves a real problem and creates value, that is when you begin to drive economic growth and inclusion.”
He noted that the state hosts numerous degree-awarding institutions across federal, state and private ownership, providing a strong base for human capital development. However, he expressed concern that these institutions often operate in isolation from industry, with research outputs rarely translating into commercial or industrial applications.
He explained that innovation does not happen in silos and stressed the need for a strong, interconnected ecosystem that brings together academia, industry, startups, entrepreneurs and government.
According to him, universities should conduct research informed by industry needs, industries should leverage research to improve productivity and competitiveness, and startups should serve as the bridge that converts ideas into market-ready solutions.
He further encouraged entrepreneurs to leverage technology to build businesses that can grow beyond local markets, explaining that innovation-driven enterprises have the power to scale rapidly, create jobs and position Kano competitively at both national and global levels. According to him, digital platforms and emerging technologies now make it easier for startups to reach wider markets and develop solutions that were previously unimaginable.
“You can start your business here in Kano, but your thinking must be global from day one. Technology has removed barriers. With the right skills and platforms, a startup in Kano can build solutions that serve not just Nigeria, but the world,” he noted.
Highlighting NITDA’s ongoing interventions, the Director General outlined the Agency’s commitment to building national innovation capacity through targeted human capital development programmes. He cited the Digital Literacy for All (DL4ALL) initiative, which aims to equip Nigerians across all segments of society with essential digital skills, and the 3 Million Technical Talents (3MTT) programme, designed to produce a pipeline of globally competitive technical professionals in areas such as software development, data analysis and emerging technologies.
He said, “Through DL4ALL, we are ensuring that Nigerians at all levels have the basic digital skills needed to participate in the digital economy, while 3MTT is deliberately building a pipeline of globally competitive technical talents who can drive innovation, create jobs and attract investment.”
He explained that these programmes are key pillars of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises skills development, innovation, job creation and inclusive economic growth as pathways to national prosperity. According to him, empowering Nigerians with digital and technical skills is essential for building a resilient economy capable of competing in the global digital landscape.
“President Tinubu’s Renewed Hope Agenda is about investing in people, empowering them with relevant skills and creating opportunities for inclusive growth. At NITDA, we are using digital skills and innovation as tools to translate that vision into real economic impact for Nigerians,” he said.
Inuwa urged all stakeholders in Kano to work together to build a functional innovation ecosystem that can unlock the state’s vast potential. He expressed confidence that with the right mindset, strong collaboration and sustained investment in digital skills and innovation, Kano can reclaim its historic leadership role and emerge as a major innovation and entrepreneurship hub in Nigeria and beyond.
General News
Sterling Bank Renewable Energy Colloquium Urges Stakeholders to Unlock Nigeria’s Clean Energy Potential

Sterling Bank Limited on Monday convened stakeholders in the renewable energy industry to explore strategies for accelerating Nigeria’s transition to clean energy and boosting economic growth.

L-R: Mr. Ayo Ademilua, President, Renewable Energy Association of Nigeria; Dr. Jekwu Ozoemene, Group Executive, The Alternative Bank; Mr. Biodun Ogunleye, The Honourable Commissioner, Lagos State Ministry of Energy and Mineral Resources; Mr. Dele Faseemo, Group Executive, Coprporate and Investment Banking, Sterling Bank; Engr. Bem Samuel Anyangeuor, Representative, Honorable Minister of Power and Mr. Oluwaseyi Okunnuga, Group Head, Renewable Energy & Sustainability Finance, Sterling Bank at the just concluded Renewable Energy Colloquium held in Lagos recently.
The colloquium, themed “Beyond the Grid: Unlocking New Frontiers in Renewable Energy”, was held in Lagos and brought together policymakers, financiers, and industry leaders to deliberate on priority areas for action.
In his opening address, Managing Director and Chief Executive Officer of Sterling Bank, Mr. Abubakar Suleiman, represented by Mr. Dele Faseemo, Group Executive, Corporate and Investment Banking, said the bank would focus on regulation and financing to expand access to energy.
He noted that energy access remained critical to supporting economic growth and achieving Nigeria’s ambition of building a one trillion-dollar economy.
Delivering a keynote address titled “Scaling Electrification in Nigeria: The REA Impact”, Managing Director of the Rural Electrification Agency (REA), Dr. Abba Aliyu, represented by Mr. Abba Hayatudden, said Nigeria required about 26 billion dollars to bridge its energy deficit.
Aliyu explained that the energy transition strategy integrates grid, mini-grid and off-grid technologies to achieve universal, reliable and sustainable energy access while aligning with national development and climate goals.
Minister of Power, Mr. Adebayo Adelabu, represented by Engineer Samuel Ayangeaor, commended Sterling Bank for convening the dialogue.
He said renewable energy and rural electrification were central to the Federal Government’s Renewed Hope Agenda.
“The Ministry of Power has continued to expand electricity access to underserved communities to drive economic growth, foster industrial activity and create jobs across the nation,” Adelabu said.
Lagos State Commissioner for Energy and Mineral Resources, Mr. Biodun Ogunleye, highlighted the state’s efforts in renewable energy, including the ongoing two-gigawatt grid-scale solar project.
He described it as the most ambitious energy transformation ever undertaken by the state.
Chief Executive Officer of Sterling One Foundation, Mrs. Olapeju Ibekwe, urged participants to move beyond communiqués and act with intention to deliver meaningful impact.
The colloquium featured panel sessions on financing and scaling green energy solutions in Africa, among other discussions.
General News
Cellulant Taps Freddie Oduro to Lead Enterprise Payments Expansion in Ghana

Cellulant, a leading Pan-African payments company enabling seamless digital transactions across Africa, has appointed Mr. Freddie Oduro as its new Country Manager for Ghana.

Mr. Freddie Oduro, New Country Manager for Ghana.
Freddie’s appointment is a key step in Cellulant’s broader strategy to deepen its presence in priority markets by accelerating the acquisition of in-country enterprise businesses and strengthening its position as the payments partner of choice in Africa.
Freddie brings over a decade of commercial and strategic leadership experience in the telecommunications and financial services sectors, with expertise in sales, business operations, and market expansion.
In his new role, he will drive merchant acquisition, strengthening partnerships, oversee collections and payout operations, while ensuring strong internal controls and regulatory compliance.
He joins Cellulant from Payaza and previously served as Sales Director at Cellulant, where he helped significantly expand the company’s footprint in Ghana.
Cellulant has been powering payments in Ghana for leading brands in sectors like e-commerce, utilities, oil and gas and retail, helping them offer their customers a wide range of secure digital payment options.
“We are happy to welcome Freddie back to the Cellulant family,” says Richard Gesimba, Chief Revenue Officer at Cellulant. “Ghana remains a critical market for us, with immense potential driven by rising digital payments adoption.
“As we sharpen our focus on in-country enterprise customers, Freddie’s leadership and industry insight make him the ideal person to steer our Ghana operations.”
The appointment comes at a transformative time for the company. Following a strategic shift between late 2023 and early 2024, focused on streamlining operations, doubling down on enterprise payments, and strengthening customer intimacy, Cellulant achieved profitability in 2024 and continues to build on this momentum.
The company now processes close to 4.5 million transactions daily for businesses across Africa, reinforcing its position as a fintech leader.
“I am honoured to return to Cellulant and lead the Ghana team at such a defining moment,” says Freddie, Country Manager for Cellulant Ghana. “Ghana presents a tremendous opportunity.
“We will ramp up our efforts to sign on more local merchants, strengthen our compliance and control frameworks, and introduce innovative solutions like Tingg Edupay, our automated school fee management solution that eliminates reconciliation delays by validating payments in real time and instantly updating student accounts.
“We will build on Cellulant’s strong foundation to deliver real value, reliability, and economic impact.”
Ghana’s digital payments sector continues to grow steadily, supported by increased mobile money usage and a progressive regulatory environment. Between January and October 2025, the value of mobile money transactions hit about GH¢ 3.6 trillion, up sharply from GH¢ 2.37 trillion in the same period of 2024.
Registered mobile money accounts now exceed 79 million, demonstrating strong consumer and business confidence in digital financial services and in turn creating many opportunities for payment innovation.
This leadership appointment underscores Cellulant’s commitment to building a resilient, high-performance organisation geared towards playing a pivotal role in the next era of Africa’s digital economy.
Looking ahead to 2026, Cellulant plans to further enhance the user experience on its payment platform, Tingg, and expand its footprint across Ghana.
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