Business
Moniepoint Victims Prepare Landmark Lawsuit Following EMAAR Ponzi Scheme Collapse
A group of aggrieved investors has announced intentions to file a landmark class-action lawsuit against Moniepoint Microfinance Bank. The legal action follows the collapse of the EMAAR investment scheme, a fraudulent platform that allegedly utilized Moniepoint’s digital banking infrastructure to facilitate illicit transactions, leaving thousands of victims in financial ruin. The lawsuit highlights what legal…
Tony Elumelu Heirs Energies Secures Major Ownership Interest in Seplat Through 500 Million Dollar Deal
Heirs Energies, an integrated energy company chaired by African business mogul Tony Elumelu, has successfully acquired a significant 20.07 percent stake in Seplat Energy PLC. The transaction, valued at approximately 500 million dollars, marks a major consolidation of indigenous power within Nigeria’s oil and gas sector. The acquisition was executed through a strategic purchase of…
World Health Organization Launches Comprehensive Global Database for Traditional Medicine Knowledge
The World Health Organization (WHO) has officially unveiled a groundbreaking global library dedicated to traditional medicine. This digital repository is designed to serve as a central hub for evidence-based information, bridging the gap between ancient healing practices and modern scientific standards. The launch of this global traditional medicine library marks a significant milestone in the…
ICPC Summons Aliko Dangote Following Corruption Allegations Against Former NMDPRA Chief
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has officially invited the Chairman of the Dangote Group, Aliko Dangote, to provide information regarding a petition involving the former head of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). This development marks a significant turn in the ongoing investigation into alleged financial irregularities…
World Health Organization Calls on Non-Governmental Organizations to Intensify Reproductive Health Interventions
The World Health Organization (WHO) has issued a fresh appeal to Non-Governmental Organizations (NGOs) and civil society groups to expand their support for reproductive health services. This call for action comes as part of a global effort to reduce maternal mortality and improve access to family planning, particularly in underserved communities across Africa and developing…
FENRAD Calls for Probe into Allegations of Unexplained Wealth Against NMDPRA Boss Farouk Ahmed
The Foundation for Environmental Rights Advocacy and Development (FENRAD) has formally demanded an independent probe into serious allegations of unexplained wealth leveled against the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA boss), Mr. Farouk Ahmed. The demand follows public claims made by the President of the Dangote Group, Aliko…
The $290 Million Question: Is Moniepoint a Nigerian Unicorn or a Foreign-Owned Trojan Horse?
WHO REALLY OWNS MONIEPOINT? The $290 Million Deal That Sold Nigeria’s Top Fintech to Foreign Interests. LAGOS, NIGERIA – December 15, 2025 In a recent announcement that sent ripples across Africa’s fintech landscape, Moniepoint Inc. confirmed it had secured an additional $90 million to close its Series C funding round at a staggering $200 million (Source:…
Who Really Owns Moniepoint? The {$200} Million Round That Stirred the Pot
The Nigerian fintech space is buzzing again, not from an IPO, but from a massive injection of global capital. Nigerian fintech giant Moniepoint (formerly TeamApt) has completed a colossal Series C funding round, now totalling $200 million. While the figure is spectacular and reaffirms Moniepoint’s ‘unicorn’ status (a valuation over {$1} billion), it has sparked…
Major Leap: Fintech Unicorn Zilch Secures Key Payments Licence from City Watchdog
Zilch, the UK’s high-flying fintech unicorn, has marked a significant strategic milestone by securing a payments services licence from the Financial Conduct Authority (FCA), the UK’s powerful City watchdog. This crucial authorization “cements its position as a trusted leader within the market,” according to the company, and is viewed as a major stepping stone ahead…
ZTE Braces for $1 Billion+ US Fine Over Foreign Bribery Allegations
Chinese telecommunications giant ZTE Corp is reportedly facing the prospect of paying a massive fine potentially exceeding $1 billion to the U.S. government to resolve years-old allegations of foreign bribery. The penalty, which could severely impact the company’s financials, is being discussed as part of a potential settlement with the U.S. Department of Justice (DOJ)…