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Leo Stan @ 66: Africa’s Technology Miracle Child Comes Full Circle

By Henry C. Ibeakolam
Rarely in this part of the world would you find a man like Leonard Nnamdi Stanley Ekeh, better known as Leo Stan Ekeh.

Leo Stan Ekeh.
For starters, Leo Stan, as he is fondly addressed, is not your regular fellow. He ranks well and truly as an unusual entrepreneur, one who is not only absolutely outstanding at what he does, but a man who also stands head and shoulders apart from his peers.
The story of technology in Africa and in his native Nigeria would decidedly be incomplete without a mention of the many pioneering roles Ekeh played in this domain. But it is in chronicling his amazing journey of well over three decades in the field of technology that some of the exciting qualities that make Ekeh outstanding align in sharp contrast.
Born on April 22, 1956, in the rustic town of Ubomiri in Mbaitoli, Imo State, Ekeh is of the Baby Boomer generation – often defined as people born from 1946 to 1964, during the post–World War II baby boom. Remarkably, members of this generation fall among the most digitally-disadvantaged, especially when compared to their more technology-savvy counterparts in the Millennials or Gen Z generation.
In fact, research by the Pew Internet Project shows that Baby Boomers dominate globally among current Internet non-users. But it goes even beyond that. More than half of the members of this generation say the main reason they don’t go online now is because they don’t think the Internet is relevant. For these ones, take away Facebook or WhatsApp and you cut off probably their only links to the digital world.
Yet, Ekeh, who was recently honoured as the Forbes Best of Africa Leading Tech Icon, remains an outlier.
For decades here in Africa, the man has not only dominated the technology ecosystem, churning out innovations by the dozens in a sector which remains alien to many of his contemporaries, but which for him is a playground where he has continued to find relevance and expression, giving the Millennials and Gen Z something to think about and look up to.
In his words: ‘‘Despite my age, I feel very young. My eldest son will tell anyone who cares to listen: ‘Ha! Chairman is even younger at heart than many of us in the younger generation’. This is very important because I operate in a sector that is dominated by young people. I build products and solutions that are largely consumed by the youths, so I must understand their mindset and reasoning. I have to be like them in order to succeed,’’ he once stated at a public event.
But if his unusual pizazz as a technology guru ranks as a misnomer, it would be in keeping with the rest of his nature.
Restless but blessed with the brains of a genius, Ekeh’s personal life story further demonstrates the peculiarities of a maverick who stands apart and alone; a miracle child or digital orphan, as he often describes himself. He has never tasted alcohol from childhood till date, neither has he ever smoked, be it the regular cigarettes or any of the more exotic stuff that are as varied in their names or configurations that abound today.
It is interesting, while restating the unusualness that distinguishes Ekeh, to observe that unlike many Nigerian entrepreneurs whose little beginnings are often glossed over or consigned to the rubbish heap of history when they emerge, Ekeh’s remarkable rise to the pinnacle of success as a digital entrepreneur is thrown into sharp relief by the obstacles, the challenges, the struggles he faced, all of which he surmounted on his entrepreneurial journey.
It is not a secret that Ekeh used to live in the same apartment that housed his first office, or that his unerring knowledge of Lagos roads comes partly from the fact that he used to drive a commercial bus for fun with his friends.
A devout Catholic and former Mass servant, Ekeh, unknown to many, cheated death early in life, surviving a ghastly accident that left him with multiple stitches in his upper left arm while on the verge of leaving the country for studies abroad – a development which ultimately resulted in him missing resumption in the UK and eventually opting for India where he enrolled for a degree programme in Economics at the highly respected Punjab University. But the entire adventure would appear as if fate was playing a hand in forging the man’s destiny.
India, at the time Ekeh stepped foot there, was a nation struggling to convert its huge potential and undoubted human capital to wealth. Perhaps, not surprisingly, his time in India contributed a great deal in imbuing Ekeh with some of the remarkable fighting spirit and uncommon zeal to succeed he is renowned for. As he puts it, studying in India was “a great turning point in my life because I found the economy of India a realistic economy”.
Lest we forget, it was in that same India that Ekeh met the cerebral Chioma Ekeh, the love of his life and reliable sidekick, the woman who would become his wife and who at the time, turned out to be the only Nigerian studying Mathematics at the university.
Moving on from India and seeking further studies in the UK, Ekeh had his eyes opened to an environment which saw no future for Nigeria or Africa in technology back then.
His tutors at Ireland’s Cork City University, where he elected to study Computer Science, had painstakingly studied his temperament and character, correctly identifying him as a restless, smart and business-minded chap who would probably end up frustrated if he returned to his native Nigeria at the completion of his studies. But Ekeh has never been one to run from a challenge.
Armed with a postgraduate degree in Risk Management from a shared course at Nottingham University and City University, London, he had been faced with the prospect of completing a Masters’ Degree in Business Law at what is known today as London Metropolitan University or terminating the programme after eight months and converting his final school fees to return to Nigeria and launch his first company – Task Systems Ltd.
Ekeh chose the latter and the rest, as they say, is history.
For a man whose early ambition was once to own the largest transport company in Nigeria, Leo Stan Ekeh’s pivot to the technology business, as well as his subsequent dedication to creating a digital identity for Nigeria and putting the country and Africa, by extension, on the global map is the stuff of legend.
Ekeh’s many exploits – pioneering Desktop Publishing and Computer Graphics in West Africa and computerizing over 95 per cent of Media/ Multimedia houses and book publishing houses in Nigeria in 1987 through Task Systems; pioneering digital dispensing fuel pumps in partnership with Elf Petroleum and Schlumberger, France through his company Stanoil after he was cheated by a fuel attendant using the analogue pumps; launch of the first locally assembled and internationally certified computer brand in Sub-Saharan Africa – Zinox Computers; pioneering Sub-Saharan Africa’s leading and biggest technology products distribution company – TD Africa; deployment of the single largest e-Library and Wireless Cloud rollout in Africa; his status as the early pioneer of e-Commerce in Africa with Buy Right Africa DotCom; his sterling role in midwifing the biometric digital revolution in Nigeria, saving the country huge embarrassment by delivering the Independent National Electoral Commission (INEC) voters’ registration in 2006 when foreign contractors could not deliver after months of promises; repeating the feat four years later when he supervised the biggest single ICT digital rollout in Africa with the deployment of the Direct Data Capture (DDC) project with INEC in 2010 valued back then at over $170m, among many others too numerous to list out here – are well-chronicled.
But it is to the credit of his indefatigable nature and passion for Nigeria that, at an age when many of his peers were considering calling time on their careers, Ekeh decided to take on a challenge that even the most optimistic of his backers saw as a suicide attempt.
In early 2018, Ekeh and his team had announced the acquisition of Konga, a once-thriving indigenous platform which held the status of being one of the latter-day pioneers of the new wave of e-commerce in Nigeria but which, at the point of acquisition from its erstwhile owners, South African-headquartered Naspers and Swedish-based AB Kinnevik, was almost on its last days.
It was a piece of business whose echoes reverberated around the corridors of the global business world. For many, the acquisition of Konga would be the final straw that would break the irrepressible juggernaut that Ekeh represented. Such was the enormity of the task that lay in resuscitating the brand and restoring its glory days.
Or so it seemed.
Four years down the line, Konga, written off by many, has under new management, not only risen from the ashes of its near exit from the Nigerian e-commerce market, but is now the toast of desirous investors the world over and being touted as the potential leader of e-commerce in Africa.
It is proof of the magic wand that Ekeh wields, that gifted touch he brings to bear and the sagacity/mastermind at work behind his always clean-shaven pate that Konga, which reports reveal was once hemorrhaging about N400m per month, is today the first African e-commerce brand to turn a profit.
No doubt, Leo Stan, as his friends call him, is a national treasure, but he remains a man whom many believe – and rightly so, has hardly received the kind of recognition and acclaim he deserves from successive Nigerian governments. A man of extreme humility and a renowned philanthropist, Ekeh’s massive contribution in promoting digital democracy and ushering millions of Nigerians and Africans into the digital ecosystem remain unmatched across the continent.
As he turns 66 today, Tuesday February 22, 2022, it would appear Ekeh, who has never hidden his ambition of building the first and biggest 360-degrees integrated ICT conglomerate out of Africa, has come full circle on his wish, especially with the addition and impressive turnaround of Konga – now a flourishing e-commerce giant – to a formidable cast of thriving entities in the Zinox Group with proven and advanced competencies in a wide variety of tech-driven deliverables across verticals.
But it is also in keeping with Ekeh’s status as a rarefied, unusual breed of entrepreneur that one would be hugely surprised if he quits innovating, even at 66.
As he succinctly phrased it: “My strategy from childhood as a poor fellow was to cause disruptions, hence the decision to venture into technology which allows room for constant innovation…The only way I can sustain my dominance in the marketplace is through constant innovation and this is tied to sleeping less and eating healthy. It is important that in that hunger to be successful, you institute strong auditable system and structure which sustain your business.’’
At 66, Africa’s technology miracle child remains the poster child of all that is great in humanity.
By Henry C. Ibeakolam writes from Abuja, Nigeria
News
NITDA Raises Alarm over Fake ‘CPM’ Platform Extorting Victims Using Agency’s Name

National Information Technology Development Agency (NITDA) has raised the alarm over a fraudulent online marketing and earning platform known as “CPM,” which is currently extorting scammed subscribers under the false pretense of collaborating with the government agency.

The platform operators, after allegedly freezing or stealing investments from users, claimed their systems were “hacked” and are now demanding additional payments from desperate subscribers to “recover” their lost funds, using NITDA’s name as a regulatory shield.
In an official public disclaimer released on Monday and signed by Mrs. Hadiza Umar, director of Corporate Communications and Media Relations Department, NITDA categorically dissociated itself from the scheme, labeling the operation a dangerous social engineering trap.
After the platform crashed or restricted withdrawals, the administrators designed a secondary extortion scheme.
They informed panicked subscribers that NITDA had stepped in to help resolve the technical glitch and hack, but mandated that users must pay extra fees to facilitate the emergency recovery process.
Disowning the claims, the regulatory body maintained that it has no hand in the operations of the platform, nor does it charge citizens for security interventions.
“NITDA wishes to categorically state that these claims are false and misleading,” the statement read. “As a government agency and Nigeria’s Information Technology regulator, NITDA does not request or collect money from citizens to provide incident response support, recover funds, or assist private entities in resolving cybersecurity incidents.”
Members of the public are therefore strongly advised to exercise caution and avoid making any additional payments to any individual, group, or platform claiming that such payments are required by or connected to NITDA.
The agency warned that the entire incident follows a classic double-extortion pattern often deployed by internet fraudsters to further exploit vulnerable victims who are already desperate to recoup their trapped investments.
To prevent further financial damage to unsuspecting Nigerians, NITDA urged the public to immediately cease all financial engagements with the platform’s handlers. The agency outlined several critical cybersecurity safety measures, advising citizens to:
“Exercise extreme caution when dealing with high-yield online investment and trading applications,” it said.
“Completely avoid sending additional funds or ‘activation fees’ in an attempt to recover previous losses.
“Verify any claims of government involvement directly through verified official channels rather than third-party statements.
“Refrain from sharing sensitive personal identifier numbers, bank details, or financial information with unverified entities.
“Immediately report suspicious cyber-related operations and fraudulent financial schemes to law enforcement authorities.”
Mrs. Umar reiterated that NITDA remains heavily committed to promoting cybersecurity awareness across the country and will continue to track and expose cyber-enabled fraud and deceptive online cartels targeting Nigerian citizens.
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Moniepoint Group Commits to Boost Hands-on, Entrepreneurship in Three Nigerian Universities with ₦3B Innovation Hubs

Moniepoint Inc, has signed a landmark ₦3 billion commitment to establish three Innovation Hubs across some of Nigeria’s most prestigious federal universities over the next three years. The initiative represents one of the most significant private-sector investments in Nigerian higher education in recent memory.

The Moniepoint Innovations Hubs will be built at Obafemi Awolowo University (OAU), the University of Nigeria, Nsukka (UNN), and Ahmadu Bello University (ABU). The three institutions were strategically selected to scale the impact of the interventions across Nigeria’s geographic regions and to reflect a commitment to ensuring that opportunity is not concentrated in a single city or region but is proportionally distributed across the country, in line with Nigeria’s diversity and potential.
Each hub will serve as a permanent centre for hands-on training in software engineering, data science, and artificial intelligence; design; robotics; product development; and entrepreneurship.
Open to students across all faculties, the programme will guide participants from curiosity to career readiness through structured, cohort-based learning, mentorship, and real-world project execution.
The initiative was formally announced today at Obafemi Awolowo University, Ile-ife in a ceremony attended by the Vice-Chancellors of all three universities, senior leaders from academia and industry, student representatives, alumni, and members of Nigeria’s broader innovation ecosystem.
Speaking on the initiative, co-founder and Chief Executive Officer, Moniepoint Group, Tosin Eniolorunda said, “When you look at the success of companies like Moniepoint, it’s easy to forget that it all started with the foundational training we received right here in Nigerian universities.
This initiative is about paying that trust forward. Nigeria’s digital economy cannot run on potential alone; it requires immense, localized talent density. By launching these Innovation Hubs beginning with OAU, UNN, and ABU Zaria, we are intentionally anchoring world-class technical skills across the country.
And this is just the first step as we look across other tertiary institutions. Before we built anything, universities like UNILAG and OAU built people like Felix and I, giving us our first formal training in the disciplines that became our careers.”
Furthermore, Eniolorunda continued, “Nigeria’s future will to a very large extent be built by Nigerians trained in Nigerian institutions. These three Hubs are my contribution to making that future credible by creating a solid pipeline for the emergence of great products and ideas.
“To truly scale our digital economy, we need high-density, industry-ready tech talent as a bulwark. We are investing these billions of Naira to ensure our tech ecosystem is powered by sustainable, homegrown excellence.”
Also speaking at the announcement ceremony, the Vice Chancellor, Obafemi Awolowo University, Professor Adebayo Simeon Bamire, stated, “Obafemi Awolowo University has always stood for excellence, and for the belief that knowledge must serve society. This partnership with Moniepoint Group is a powerful affirmation of that conviction.
“The Moniepoint Innovation Hub will not only expand what our students can learn but also transform what they believe is possible. We are grateful to Moniepoint for choosing to root this investment in our institutions, and we are committed to ensuring that every naira translates into opportunity for our students and for Nigeria.”
Beyond financial support, Moniepoint Inc will contribute deep industry expertise through curriculum development, mentorship, internship pathways, and expert-led learning experiences. The company’s engineering, product, and business teams will collaborate directly with each hub to ensure that training is not only globally relevant but also firmly grounded in the realities and demands of the modern African technology ecosystem.
The hubs are designed to be living institutions, not lecture halls, but launchpads of Nigerian excellence. Students will complete structured cohort programmes, work on live projects, and benefit from direct connections to Moniepoint’s network of engineers, investors, and industry leaders. The goal is not simply to teach skills, but to produce the builders and problem-solvers who will shape the next chapter of Africa’s digital economy.
The ceremony which attracted dignitaries from within and outside the University included Deputy Vice Chancellor, Academics, Professor G.A Aderounmu, Dean, Faculty of Technology, OAU, Professor L. E. Umoru, Dean of the Faculty of Science, OAU, Professor O.A Adesina, DVC Academic of UNN, Professor Kamoru O Usman, DVC, Advancement, Research & Innovation”, ABU, Professor Aliyu Sanusi, Former Head of Department, Mechanical Engineering, Prof. Obayopo, VP, People Operations, Moniepoint, Chinaza Nduka-Dike, SVP, Enterprise Network Sales, Ifeanyi Duru amongst others.
It will be recalled that Moniepoint Innovation Hubs builds on earlier investments by the Tosin Eniolorunda STEM Foundation in building a CAD/CAM laboratory at the Department of Mechanical Engineering, OAU valued at over 100m naira and the HatchDev Program at the University of Lagos championed by Moniepoint’s co-founder & Chief Technology Officer, Felix Ike in partnership with NiITHub innovation centre where about 500 young developers are trained annually.
The initiative reinforces Moniepoint’s broader mission to create financial happiness for every African, everywhere, a mission that, the company believes, requires investing not only in financial infrastructure, but in the institutions and talent pipelines that will drive Africa’s future prosperity.
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Legend Internet Repays N10Bn Commercial Paper

Legend Internet Plc has announced the full and timely repayment of its Series 1 Commercial Paper under its N10bn multi-layered issuance programme, marking a key milestone in the company’s engagement with Nigeria’s debt capital market.

Aisha Abdulaziz, chief executive officer, Legend Internet Plc,
The repayment, completed on schedule and in full, underscores the company’s financial discipline and its continued commitment to maintaining strong investor relations in a tightening funding environment.
The Series 1 issuance had earlier attracted significant demand, recording a 119.7 per cent oversubscription at launch, reflecting strong investor appetite and confidence in the company’s credit profile, operational performance, and long-term expansion strategy.
Speaking on the repayment, Aisha Abdulaziz, chief executive officer, Legend Internet Plc, said the outcome reinforces the company’s credibility and operational strength.
“The successful repayment of our Series 1 Commercial Paper demonstrates Legend Internet’s unwavering commitment to meeting its financial obligations and maintaining the trust of the investment community.
This milestone further reinforces the strength of our business model, operational discipline, and long-term vision for building resilient digital infrastructure across Nigeria,” she said.
She added that investor confidence has remained central to the company’s funding strategy, saying, “We remain deeply appreciative of the confidence shown by our investors, advisers, issuing houses, and market partners during the issuance and throughout the tenor of the programme. Their support continues to position Legend Internet for sustainable growth and expansion.”
The Commercial Paper programme forms part of Legend Internet Plc’s broader capital strategy aimed at supporting broadband infrastructure expansion, strengthening working capital efficiency, and accelerating investment in Nigeria’s digital connectivity.
Legend Internet Plc operates as a digital infrastructure and broadband services provider, with a focus on fibre connectivity, enterprise solutions, and next-generation digital services designed to expand access and support economic inclusion across Nigeria
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