News
Tears as IT Professionals Pay Tributes to Late Omatek CEO
Nigeria Computer Society (NCS), on Monday, gathered Information Professionals practitioners and the academia to pay last respect to the departed, Engineer (Mrs.) Florence Seriki, CEO of Omatek ]Ventures Plc.
Speaking at the commendation service held at the University of Lagos, Professor Sola Aderounmu, NCS’ President, said shocking and saddening are the words considered apt to describe the demise of Engr. (Mrs) Florence Seriki, FNCS, immediate past President of Information Technology (Industry) Association of Nigeria (ITAN), former member of National Executive Council of Nigeria Computer Society (NCS), who suddenly departed the world on Friday March 3rd, 2017 at the Lagos University Teaching Hospital (LUTH).
Engr. Seriki was the founder of Omatek Group and until her death, she served as Chief Executive Officer and Group Managing Director of Omatek Ventures Plc.
On behalf of National Executive Council and members of the Society, he said the Society sincerely commiserates with her family and the entire IT world.
Prof. Aderounmu, said that Mrs. Seriki’s death has left a big vacuum in the quest for local content in the sector.
“She started one of the foremost indigenous OEMs in the country; a thoroughbred professional, energetic, astute manager, articulator, and indefatigable leader”.
Some of the past Presidents of NCS also spoke glorifying words about late Seriki.
“It is very sad indeed that we have lost our ICT originator; the first Nigerian IT woman entrepreneur and owner of the publicly quoted IT Company on the Nigerian Stock Exchange. She was a rare model of diligence and hardwork, an epitome of humility who believed in perseverance and success. We shall surely miss her; she was a great ambassador of the Computer Profession wherever she sent. May her soul rest in peace”, said Chief Don Etiebet, the third President of NCS.
“Dear colleagues, that our Florence is gone, is unbelievable. The good Lord gives and he takes. This time around he has taken one of our very best. I pray God grants her success path to the paradise and also pray he kindly looks after those she has left behind,” said Alhaji Oguneye, eight president of NCS
“Florence, yours was a life well lived. May you find peace in the bosom of our Lord, Jesus Christ. Amen”, Sir Demola Aladekomo, eleventh President of NCS, among numerous tributes from past presidents and Fellows of the Society.
Also speaking, Professor Vincent Asor, president, Computer Professionals (Registration Council of Nigeria) CPN, described her as one of the pillars and resonant voices of the Nigerian IT industry.
He said that until her death, Mrs. Seriki was an active and respected member of the Computer Professionals (Registration Council of Nigeria), [CPN].
“That she saw business opportunity even as a Corp member and turned same to become a business venture known as Omatek, shows how inspired she was and a trail blazer. She might have lived a short life, but her kindness, inspiring words, doggedness and crusading for local content development cannot be forgotten. She lives on in our hearts and we pray God condoles the family she left behind”, Prof. Asor prayed.
Orjinta Orji-Alala, provost, College of Fellows of NCS said that he received the sad news with a rude shock, “as I couldn’t send emails to our members without quoting my source. It was unbelievable to me”.
Giving words of exhortation to the family, friends and IT professionals gathered at the commendations service, Rev’ Professor Adebayo Akinde, urged all to engage on daily life appraisal hence death is inevitable.
Quoting from Philippians 4:8 he said, “Finally, brothers and sisters, whatever is true, whatever is noble, whatever is right, whatever is pure, whatever is lovely, whatever is admirable–if anything is excellent or praiseworthy–think about such things”.
Cross section of attendees at the NCS Commendation Service in honour of Late Seriki held at the faculty of Science, University of Lagos on Monday.
DataPro Rating Agency has upgraded the long-term credit rating of Dangote Cement Plc to AA+ from AA, citing the company’s strong financial performance, market leadership and ability to meet its financial obligations despite Nigeria’s challenging economic environment.
In its latest rating report, the technology-driven credit rating agency also affirmed Dangote Cement’s short-term rating at A1, with a Stable Outlook. The ratings are valid until June 16, 2027.
DataPro said the upgrade reflects the cement maker’s sustained financial strength, resilient operating performance and dominant position in Nigeria and across Africa.
According to the agency, the assessment followed a comprehensive review of the company’s capital base, earnings, liquidity, corporate governance, regulatory compliance and the sustainability of its financial performance over the medium to long term.
It noted that Dangote Cement’s strong brand, leading market share, solid earnings, robust asset base and experienced management continue to strengthen its ability to meet financial commitments on time.
The agency also highlighted the company’s outstanding financial performance in 2025.
According to the report, Dangote Cement posted N4.31 trillion in revenue during the year, representing a 20 per cent increase from the previous year. Profit before tax more than doubled, rising 109 per cent to N1.53 trillion, driven by higher sales, improved operating efficiency, lower finance costs and a stronger capital structure.
DataPro said the AA+ long-term rating indicates low credit risk and reflects excellent financial strength, business profile and operating performance relative to its rating benchmarks.
It added that the A1 short-term rating signifies good credit quality and shows that the company has a strong capacity to meet its short-term financial obligations as they fall due.
The rating agency, however, noted that the credit rating has a maximum shelf life of 12 calendar months in line with international best practice and should be used only as a reference, not as an offer to trade in securities or as a substitute for investors’ independent judgement.
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.
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