Legend Internet just wrapped up its Series 1 commercial paper sale and pulled in nearly 120 percent subscription, which basically means investors wanted way more than what was available. CEO Aisha Abdulaz said the oversubscription shows people actually trust the company's financials and expansion plans, and the cash is part of a 10 billion naira financing program aimed at rolling out more broadband infrastructure across Nigeria.
The money goes toward fiber network buildouts, working capital tweaks, and potential acquisitions that should help Legend grab more market share. CFO Chris Pitan credited the blowout response to disciplined money management that lets the firm scale up without blowing through reserves, and management wants to...
Greenwich Merchant Bank grabbed top honors at the FMDQ Gold Awards for having the cleanest compliance record among dealing members operating in Nigeria's fixed-income and derivatives markets. The trophy goes to whoever racks up the fewest violations while sticking to FMDQ's operational rules, and Greenwich apparently nailed it across their currency and derivatives trading desks.
FMDQ's marketing head, Nkiru Umeh, said the bank shows serious dedication to playing by the book, and CEO Benson Ogundeji credited his compliance and risk management squads for keeping everything locked down. Head of Compliance Tayo Lawal called the award proof that their internal controls and system upgrades actually work instead of just existing on paper to...
Africa Finance Corporation and Nigerian Exchange threw a two-day workshop in Lagos to teach finance people how to actually fund infrastructure projects through capital markets, and the whole thing centered on Nigeria's nightmare-tier funding gap that could hit 2.3 trillion dollars by 2043. Banji Fehintola from AFC said the continent needs homegrown experts who can structure long-term deals instead of relying on foreign cash every time someone wants to build a bridge.
NGX boss Jude Chiemeka pushed their X-Academy training platform as the answer to getting market players up to speed on originating and managing infrastructure assets that meet global standards. The sessions covered project structuring, risk allocation, green bonds...
Accion Microfinance Bank just opened its 75th location in Kaduna State and spent two days hitting up markets like Abubakar Gumi, Chanchangi, and Kawo to talk up their savings products and loan options before the ribbon cutting. CEO Taiwo Joda said the branch puts banking services right where traders and small business owners actually need them, and the microfinance outfit has been grinding since 2006 trying to get financial access to people who normally get ignored by bigger institutions.
The Kaduna spot offers micro loans, SME financing, digital banking channels, and some financial literacy workshops for customers who want help figuring out how money works. Senator Lawal Adamu's adviser, Auwal Babangida, showed up to the launch along...
AltBank dropped a package for small businesses at the Kano trade fair that wipes out fees for digital signups and throws in free payment tools plus advisory help for traders across northern Nigeria. Garba Mohammed from the bank said they grabbed a 15 million dollar facility for trade and commodity finance to back MSMEs, which apparently make up over 90 percent of Nigerian businesses, but still get wrecked by terrible infrastructure and zero access to proper funding.
The bank ran a seminar with the Kano Chamber of Commerce about getting small enterprises out of survival mode through tax reform discussions, climate prep strategies, and tech adoption pathways. Mohammed said financial institutions and government bodies need to team up if...
Marble Capital just hit its five-year mark, and CEO Akeem Oyewale talked up how the firm became the first in Nigeria to launch a Shariah-compliant commodities fund approved by the SEC. The company grabbed Islamic Asset Management Firm of the Year trophies in 2022 and 2023, got tagged as the biggest fund manager on FMDQ Exchange, and won Islamic Finance Deal of the Year at the AICIF Awards. Busola Kuku from the asset management side said they run six different portfolio options that range from high-risk commodity plays to low-risk capital preservation setups for different investor profiles.
The firm pushes ethical investing that sticks to Shariah principles while chasing competitive returns, and leadership wants to keep expanding access...
Nigeria's social insurance fund boss, Oluwaseun Faleye, showed up at the international trade fair in Lagos and told everyone the agency handles claims when workplace accidents mess people up. The fund went through a bunch of upgrades over the past year with better transparency on processing claims, digital reporting channels, and stronger compliance checks across the country. Regional manager Agboma Okoroafor stood in for Faleye and said the Lagos region has thousands of employers already using the streamlined tech-driven system.
Faleye pushed the idea that protected workers equal thriving businesses, which supposedly leads to economic growth under President Tinubu's agenda. Vera Safiya Ndanusa from the trade fair complex board pointed...
UNICEF teamed up with Lesotho's gender ministry to push the YOMA platform at a youth event in Semonkong, and the whole thing targets herders and other kids stuck in remote spots who normally get zero access to training programs. Deputy Principal Secretary Thae Makhele kicked off the two-day session, which walks young people through digital learning tools and work-readiness stuff that might actually help them land gigs or build skills outside the usual formal networks.
The platform is supposed to fill gaps for communities that never see this kind of opportunity, and it builds on Minister Pitso Lesaoana's national rollout from earlier in the week. The ministry wants to pump up economic participation for marginalized groups through skills...
Google just dropped 3 billion naira into Nigeria through its charity arm to pump up AI skills and cybersecurity infrastructure. The cash will flow through five partner orgs that are supposed to get university students trained up on advanced AI coursework, run dev challenges that turn concepts into actual products, and teach kids plus government workers how to not get owned online.
FATE Foundation and the African Institute for Mathematical Sciences are handling the university side across Nigeria, Ghana, Kenya, and South Africa, while African Tech Forum runs innovation contests and JA Africa, plus CyberSafe Foundation handles the digital safety angle. Google already has skin in the game with the Equiano undersea cable and a previous...
