E-Financial
Oradian Deploys Cloud Tech for Digital Rural Banking

Oradian, a financial inclusion company, is set to build its community of visionary microfinance institutions, microfinance banks and Cooperative Societies in West Africa. Through Oradian’s toolset, which includes its cloud-based core banking system (CBS) Instafin, financial institutions are enabled to grow and reach more clients with digital financial services.
The company’s mission – to boost financial inclusion by delivering the tools financial institutions need to reach more clients in rural communities – supports Nigeria’s goal to reach 80 percent financial inclusion by 2020 as stated by the Central Bank of Nigeria (CBN).
According to Onyeka Adibeli, Oradian Co-founder and Head of Implementation, “Oradian’s cloud-based CBS enables financial institutions to go digital. Paired with guidance and support from our in-market teams, we are enabling the successful digital transformation and implementation of global best practice for our community of financial institutions”.
To accelerate financial inclusion in Nigeria and to share best practice for going digital with cloud technology, Oradian will host a dinner event in Lagos as part of the Africa Banking and Finance Conference on April 10 2018.
The event is designed to bring leaders of financial institutions, regulatory groups, financial inclusion experts, the Central Bank and fintech providers together to build strategic partnerships that will boost financial inclusion in Nigeria and West Africa at large. The event will connect the private sector, public sector and financial services regulators.
“Strategic partnerships within the digital ecosystem are proving to be the most effective way to enable our customers to provide better service to their end-clients,” says Antonio Separovic, the Chief Executive Officer and Co-founder of Oradian.
Oradian is demonstrating the value of strategic public-private partnerships in Southeast Asia with the Asian Development Bank (ADB) and Cantilan Bank, one of the top rural banks in the Philippines. Backed by a $150,000 ADB grant, Cantilan Bank will use Oradian’s toolset to demonstrate how cloud technology can unlock financial opportunities by providing access to financial services for hard-to-reach individuals in rural areas.
Oradian’s toolset, including Instafin, delivers three key business benefits to financial institutions: improved efficiency with digital processes and operations, informed decision-making with real-time data and reporting, and growth without incremental cost. Oradian provides access to its toolset using a subscription model, eliminating financial barriers that prevent financial institutions from accessing leading technology.
Co-founders Separovic and Adibeli will lead Oradian’s dinner event in Lagos and they will be joined by Eric Elango, Oradian’s Business Development Manager, who specialises in working with financial institutions to align their business strategy with their technology strategy.
Together, Oradian will continue building strategic partnerships with key financial inclusion leaders and visionary financial institutions in West Africa to provide access to financial services to more clients and to fast-track CBN’s financial inclusion goal for 2020.
E-Financial
UBA Expands to More African Cities, Stamps Footprint in Saudi Arabia

United Bank for Africa (UBA) has announced strategic expansion into more African countries even as it plans to open a new office in Saudi Arabia, marking a significant milestone in its mission to connect Africa with key global markets.

Oliver Alawuba, GMD/CEO, UBA group,
This emerged during the Group’s Half Year Business Review held at its global headquarters in Lagos, where Oliver Alawuba, group managing director/CEO, UBA group, met with senior executives overseeing UBA’s 24-country footprint.
The meeting reaffirmed the bank’s pan-African strategy while outlining bold new steps into global markets.
Alawuba highlighted UBA’s continued growth outside Nigeria, with more than 51.7% of Group revenues now generated from its ex-Nigerian operations.
He described the Saudi expansion as a move that positions UBA to support cross-border trade, attract investment flows, and better serve the African diaspora.
“UBA’s vision is clear—we are building a truly global institution anchored in Africa, but serving customers across continents. Our entry into Saudi Arabia signals confidence in new opportunities and commitment to supporting economic connectivity between Africa and the Middle East,” he said.
The Saudi expansion adds to UBA’s international presence, which currently includes the United Kingdom, United States, France, and the United Arab Emirates. Alawuba also disclosed that the bank is upgrading its operating licence in France to further strengthen its European operations.
“In Europe, UBA has operations in the United Kingdom and is upgrading its licence in France, expanding its capacity to serve cross-border trade, investment flows, and the African diaspora, complementing our over 40-year presence in New York,” Alawuba noted.
Since launching its pan-African journey with an entry into Ghana in 2004, UBA has expanded rapidly across 20 African countries, establishing itself as a leading driver of financial inclusion, innovation, and regional integration.
E-Financial
Ecobank Plans to Raise $250m Capital Through Private Placement

Ecobank Transnational Incorporated announced its plan to raise up to $250m in Additional Tier 1 capital through a private placement of contingent convertible notes.
In a statement filed on the Nigerian Exchange Limited recently, the capital raise was approved by shareholders at the company’s Extraordinary General Meeting held in Lomé, Togo. The private placement offer was launched on July 9 and will run for ten days.
“Following the approval of the shareholders at its Extraordinary General Meeting held on May 28, 2025, in Lomé, Togo, to raise up to $250m in additional Tier 1 capital qualifying instruments via a private placement of contingent convertible notes, Ecobank Transnational Incorporated announces the launch of the AT1 effective July 9, 2025, for ten days. Renaissance Capital Africa has been appointed as the transaction adviser to ETI.”
The move is an initiative aimed at strengthening Ecobank’s capital adequacy, enhancing financial resilience, and supporting its long-term growth ambitions across its diversified pan-African banking platform.
Additionally, Madibinet Cisse, Ecobank’s Company Secretary, said, “This proposed capital raise represents a critical step in our efforts to fortify the bank’s financial foundation and support sustainable growth across Africa.”
It would be recalled that Ecobank Transnational Incorporated, the parent company of the Ecobank Group, has raised an additional $125m through a Eurobond tap, bringing the total size of its 2029 notes to $525m.
E-Financial
EFCC Recovers Funds Lost to CBEX Fraud

Ola Olukoyede, chairman, Economic and Financial Crimes Commission (EFCC), has announced that the body has recovered lost funds from the CBEX fraud scheme.
Olukoyede did not announce the amount recovered, but he assured Nigerians that the EFCC is taking action against the promoters of the scheme.
The EFCC Chairman emphasised that the suspects found are facing prosecution.
“We have found a lot of people culpable. Those who promoted that scheme are within our jurisdiction and have been arrested. So, at this moment, they are being prosecuted. And we can also say that money has been recovered, even though the process is still ongoing for us to finally forfeit it,” he said.
Olukoyede also urged Nigerians to exercise caution when investing their resources into online platforms.
“Ponzi schemes remain one of the most pervasive threats facing unsuspecting investors. The CBEX case is a clear example. We all remember the outcry that followed the collapse of the scheme, but these unfortunate situations are preventable. Nigerians must begin to conduct due diligence before committing their resources to such platforms,” Olukoyede said.
He also stressed that the body remains committed to fishing out the culprits and recovering the lost funds.
“It was only when the bubble burst that people wanted EFCC to perform magic and recover their money. In the case we investigated in Lagos, which we dubbed Operation Flush, we arrested a large number of foreigners involved in various cybercrimes, including CBEX. I want Nigerians to know that as of today, we have secured close to 150 convictions. Some of them are already serving their jail terms. And when they are through with that, we are going to send them back to where they came from. So we are monitoring them,” he added.
He urged the public to stay vigilant, assuring them that the body will see the case to the end.
“We are no longer the EFCC that drops cases halfway. Whatever we start, we will finish. Nigerians should trust us and believe in our capacity to do justice. Some of these cases are complex and may require cross-border investigations, but we are up to the task,” he said.
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