General News
Remedial Health Secures $4.4 million in Seed Funding to Provide Access to Credit for Neighbourhood Pharmacies

Remedial Health, a healthtech startup that develops solutions to make Africa’s pharmaceutical value chain more efficient, has raised $4.4 million in seed funding to accelerate its expansion across Nigeria and to provide access to credit for inventory purchases for its growing customer base of neighbourhood pharmacies, Proprietary Patent Medicine Vendors (PPMVs) and hospitals in the country.

The seed funding round was led by Global Ventures – a leading MEA venture capital firm, who re-invested after participating in the previous round. Tencent, Y Combinator, Cathexis Ventures, LightSpeed Venture Partners Scout Fund, Ventures Platform, Alumni Ventures and True Capital Management also participated in the round which included prominent angel investors such as Guillaume Luccisano and Christopher Golda.
Remedial Health provides a range of solutions, including its digital procurement and PMR (patient medication records) platforms that make it easier for neighbourhood pharmacies, PPMVs and hospitals to access affordable and authentic retail medicines.
Healthcare providers can source vetted medications at prices the same, or better, than open-air medicine market prices – with 24 hour delivery to their practice via Remedial Health’s logistics network.
In addition to procurement, pharmacies and PPMVs can access credit to fund inventory purchases and provide loans and salary advances for employees.
Since January 2022, Remedial Health has seen 600 percent increase in sales volumes and the company now covers 16 of Nigeria’s 36 states.
This new funding will support the roll out of its services across the rest of Nigeria, and also lay the groundwork for expansion across Africa in 2023.
The impact of various global events from the last three years – from the COVID-19 pandemic to rising inflation – has led to a sharp increase in the price of medicines in Nigeria.
For neighbourhood pharmacies and Proprietary Patent Medicine Vendors (PPMVs) that represent the main source of medicines for the majority of Nigerians, these price increases mean there is added pressure to balance the need to provide lifesaving medicines to their communities and the need to run their businesses effectively.
There is also the challenge of an opaque supply chain where manufacturers have limited or delayed visibility into what is happening on the frontlines, which means pharmacies and PPMVs are often left to make do with what they can get, rather than what they need.
By leveraging Remedial Health’s tech-enabled platform, neighbourhood pharmacies, PPMVs and hospitals can benefit from group/bulk buying discounts, time saving and improved efficiency, access to credit to improve their earnings, as well as additional revenue from providing financial services and other primary healthcare services.
“Manufacturers also benefit from an efficient supply chain, a clear and instant route-to-market for their products and real-time intelligence on product utilization to improve decision making on forecasting, production and distribution.
According to Samuel Okwuada, CEO and co-founder of Remedial Health, “Neighbourhood pharmacies and PPMVs have the potential to be the face of a thriving healthcare system in Africa, and we believe that technology can play a significant role in making this vision a reality.
The funds that we have raised and the strategic support from our investors will enable us to deliver the solutions to address various challenges that have hampered these businesses’ growth for many years, and make it easier to safeguard lives and livelihoods across the continent for years to come”
Sacha Haider, Principal at Global Ventures, said, “The market opportunity to serve community pharmacies across Africa is significant; in Nigeria alone, 500,000 community pharmacies drive over 80% of a 70 billion dollar market in annual pharmaceutical sales.
“The team at Remedial Health is proactively addressing challenges including price opacity, poor drug quality control and a very fragmented supply chain, head on to create a tech-enabled, pharmacy-centred healthcare network that has allowed over 25% in cost reductions at the point of care.
“We are excited to partner with Sam on his mission to improve access to quality and affordable healthcare in Africa through optimized pharmaceutical supply chains”.
General News
Court Remands Akujobi, Ex Access over alleged Theft of N294.5m

Chinonso Akujobi, former staff of Access Bank in Lagos, has been remanded in Ikoyi prison after she was arraigned on a five-count charge bordering on stealing to the tune of N294.5m.

Akujobi who is being prosecuted by the Economic and Financial Crimes Commission (EFCC) was arraigned before Justice I.O. Ijelu of the State High Court sitting in Ikeja, Lagos.
EFCC alleged that Akujobi stole the money between January and December 2025 while under the employment of Access Bank Plc.
As stated in one the charges, the defendant stole the money through unauthorized payments from the general ledger of Access Bank to her account number 0036668871 with the name Chinonso A., Uchechi A. and Florence A., thereby committing an offence of stealing, contrary to Section 280 and punishable under Section 287 of the Criminal Law of Lagos State, 2015.
The defendant pleaded “not guilty“ to the charges when they were read to her.
In view of this, S.M.Yabo, prosecution counsel, asked the court for a trial date and also prayed for the remand of the defendant in a Correctional centre.
Justice Ijelu, thereafter, adjourned the case till October 8, 2026, for the hearing of the bail application and the commencement of trial.
The Judge also ordered that the defendant be remanded in the Ikoyi correctional Centre.
General News
NSIB Faults Runway Identification, Reveals Cockpit Disagreement in Asaba Jet Incident

The Nigerian Safety Investigation Bureau (NSIB) says the flight captain of the VMO Aero aircraft that landed on a roadway near Asaba Airport in Delta State told investigators that the observer pilot mistakenly identified the paved road as the runway before touchdown.

The bureau disclosed this in a preliminary report released on Thursday on the June 10 incident, which prompted the Nigeria Civil Aviation Authority (NCAA) to ground the private jet.
The aircraft had seven people on board, including the pilot-in-command (PIC), second-in-command (SIC), an observer pilot, a cabin crew member and three passengers.
According to the report, the aircraft was cleared by Air Traffic Control (ATC) to approach Runway 11 at Asaba Airport after the crew requested a right orbit.
The crew initially discontinued the approach, executed a missed approach and repositioned for a second landing attempt.
NSIB said the crew reported that the aircraft’s navigation systems indicated it was correctly established on the published RNAV Runway 11 approach.
“The PIC and SIC reported that the observer pilot identified the paved surface ahead as the runway,” the report stated.
However, the observer pilot gave investigators a different version of events.
According to NSIB, he said the aircraft remained inside cloud until late in the approach and that the Ground Proximity Warning System (GPWS) repeatedly issued “TERRAIN, TERRAIN, PULL UP” alerts.
He also said he observed a telecommunications mast directly ahead and instructed the flight captain to abandon the approach and climb immediately.
The bureau further disclosed that a cabin crew member reported that one of the passengers became concerned after overhearing discussions among the pilots and asked whether one of them was undergoing training. The passenger was reportedly reassured that all three pilots on board were experienced captains.
NSIB said no abnormal events were reported in the cabin before touchdown.
The aircraft eventually landed at about 8:57 a.m. on an under-construction paved roadway near Asaba Airport instead of the designated runway.
The bureau said its investigation into the incident is ongoing, while the preliminary report highlights conflicting accounts among the cockpit crew over the circumstances that led to the erroneous landing.
General News
EU warns Meta over addictive Facebook, Instagram designs, threatens fines

European Union has warned Meta Platforms Inc. that it could face a significant financial penalty unless it changes what regulators describe as the “addictive design” features of Facebook and Instagram.

The European Commission issued the warning in preliminary findings released on Friday, saying Meta had failed to sufficiently address risks posed by its platforms, particularly to children and vulnerable users.
The Commission said features such as infinite scrolling, personalised content recommendations and automatic video playback were designed in ways that encouraged excessive engagement with the platforms.
EU Executive Vice-President for Tech Sovereignty, Security and Democracy, Henna Virkkunen, said protecting the physical and mental well-being of European citizens should be a priority for social media companies.
The Commission said Meta should consider introducing design changes, including disabling autoplay and infinite scrolling by default, providing effective screen-time reminders and adjusting recommendation systems to reduce the focus on maximising user engagement.
The findings were issued under the European Union’s Digital Services Act (DSA), which sets obligations for major online platforms to address risks associated with their services.
Meta, however, rejected the Commission’s conclusions, saying it disagreed with the findings but would continue engaging with European regulators.
The company said it had already implemented measures aimed at protecting younger users, including Teen Accounts that allow parents to manage screen time limits and restrict access during night hours.
The EU said its investigation, which began in 2024, found that existing time-management tools on Facebook and Instagram could easily be bypassed, while parental controls required technical knowledge that limited their effectiveness.
Regulators also expressed concerns over children’s nighttime use of the platforms and the possibility that features such as Reels and Stories could encourage compulsive behaviour.
If the Commission’s preliminary findings are confirmed, Meta could face a fine of up to six per cent of its annual global revenue under the DSA.
The warning comes as the EU steps up efforts to strengthen online safety measures for children, with an expert panel established by European Commission President Ursula von der Leyen expected to present recommendations on protecting minors online.
Several EU member states, including France, have also supported discussions on restricting social media access for children, following Australia’s decision to ban users under 16 from accessing social media platforms.
Meanwhile, the Commission is continuing a separate investigation into whether Meta’s recommendation algorithms create “rabbit hole” effects by directing users towards increasingly extreme content.
Telecom3 days agoNCC Seeks Cost-Based Pricing Framework for Ducts
E-Financial3 days agoCBN Warns against Rejection of N100 Banknotes
Telecom2 days agoFixed Wired Internet Market Lags as Mobile Gains Ground
News3 days agoFlutterwave Secures Circle Ventures Investment to Deepen USDC Payment
Telecom3 days agoMeta Introduces Muse Image With Advanced AI Image Editing Across WhatsApp and Instagram
News3 days agoHow EFCC Turned Recovered Loot Into School Supplies for Thousands of Nigerian Students
E-Financial3 days agoBVN Enrollments Hit 69.55m- NIBSS
News2 days agoStudy Reveals How Moniepoint is Powering Nigeria’s $11Bn Food Service Sector




















