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March 17, 2021 It’s been over a month since the Central Bank of Nigeria (CBN) issued a communiqué prohibiting financial institutions from dealing with local cryptocurrency exchanges and ordering the shutdown of crypto traders’ accounts. As a result, cryptocurrency startups could no longer accept deposits or process withdrawals in the country. Mixed reactions have trailed the early February announcement. Some support the bank’s attempts to crack down on the opaque, volatile digital currency. Others question the goals of the policy, which has stifled the livelihood of young Nigerians who...

Alexander O. Onukwue Share this article Fintech in Nigeria is growing at an impressive scale. The sector features at least one billion-dollar companies that’s been operating for two decades, a startup recently sold for a historic price and a host of new entrants making waves around the continent. But compared to how fintech works in some countries, Nigeria has some way to go.  Lithuania is one such country. The northeastern European nation has grown over the past decade to become a bustling fintech hub. A country of just 3 million people, Lithuania is aiming to be a dominant player on the ...

  iNOVO accelerator selects 10 Nigerian tech startups Seeking through its venture to offer training and mentorship to disruptive solutions, iNOVO accelerator has announced selecting ten Nigerian startups to take part in its programme. The accelerator which was found through a partnership between the UK-Nigeria Tech Hub with the duo of Ventures Platform and Startupbootcamp AfriTech. According to reports, the iNOVO accelerator targets innovative ed-tech, agri-tech and e-health startups. Reports further revealed that the final selection emerged from a list of more than 750 applicants. Earlier, ...

2.  Gradely launches virtual learning management system for schools   Nigerian ed-tech startup Gradely has launched a homegrown, virtual learning management system (LMS) for schools. The startup, which deploys the use of artificial intelligence (AI), helps parents and schools intervene in real-time to cover student learning gaps. According to review, the startup was founded in 2019 by Boye Oshinaga, Femi Ibiwoye, Seyi Adelaju and Babatunde Caleb. This development comes after raising US$150,000 in pre-seed funding from angels and venture capital firms such as Ventures Platform and Microtract...

Application Deadline:24th February 2021.   Are you a startup based in Nigeria, looking to scale your business by taking part in one of the most intense virtual 3 month programmes? Introducing iNOVO by UK-Nigeria Tech Hub Powered by Ventures Platform and Startupbootcamp AfriTech. This programme will accelerate early stage startups in Nigeria that are solving challenges resulting from the Covid19 Pandemic, specifically in EdTech, AgriTech and HealthTech. We are looking for startups with innovative, out of the box solutions, ideally having achieved some traction and ready to scale. Through th...