Banking
DBN Holds Capacity Building Summit for Techpreneurs
By Adedapo Adesanya
As part of its commitment to alleviating financial constraints and improving the capacity of SMEs in Nigeria, the Development Bank of Nigeria (DBN) recently held the first edition of its Techpreneur Summit in Lagos.
The summit themed Starting Local, Scaling Global, was aimed at driving conversation in the technology sector and accelerating its impact on the social-economic development of Nigeria, by creating jobs, improving the lives of people, and scaling up Nigeria’s tech presence globally.
Executive Director, Finance/Corporate Services, Mrs Ijeoma Ozulumba, in her opening remarks said “the initiative will avail tech-based businesses and techie minds the platform to network and interact with investors as well as DBN Participating Financial Institutions (PFIs) that can help with finance to actualize or scale up their business.”
She emphasised that the Techpreneur Summit underscores the ambition of the bank since it commenced operations in 2017.
According to her, “This underscore where our ambitions lie in creating a favourable space in the ecosystem for tech. The future is hinged on technology, so apart from the global trend, locally we continue to see that technology is now about 18 per cent of GDP.
“ICT is the fastest-growing sector of the economy. Apart from that, technology and digital transformation is not just a megatrend, it underpins all the other megatrends in finance, engineering, and climate action which is topical right now.”
On the bank’s disbursement, she informed that, “The bank has since it started operations in 2017 given out loans to over 180,000 small businesses amounting to over N400 billion in various sectors of the economy and a lot of that is to tech-based start-ups.
“In 2020, DBN disbursed N190 billion, and 7,000 of those SMEs were accessing funding for the first time. This shows how important this event is to us, and the commitment of the bank to alleviating the financing constraints faced by MSMEs.”
She further added that “Our three-fold mandate is lending, providing partial credit guarantee, and capacity building. The capacity-building aspect is why we are having this summit today.”
Delivering his keynote address, serial investor and MD/co-founder, Trans-Sahara Investment Corporation, and newly appointed MD/CEO Africa Operations, Inlaks Limited, Mr Kyari Bukar, tasked Nigerian techie minds and technopreneurs on developing knowledge-based local solutions that have a universal appeal and can put Nigerian on the global technology table.
“Technpreneurship is about finding solutions, and the solutions better be local and should also have universal appeal. What is happening globally is that factor-based economics are becoming irrelevant, I don’t mean they are dead, I am saying they are not exciting as they used to be.
“Today, everybody talks about a knowledge-based economy. The beauty of tech is that it is the number one catalyst in changing the way we do things. An example is the digitalization of the way we conduct business today,” he said.
Citing the exploits of India in the global tech business landscape, the renowned investor, who started his career at the famous Silicon Valley further stated that Nigeria needs to stop relying on the wealth derived from mineral resources.
He said: “We need to change our dependence on what we pick or drill from the surface of the earth and believe that will make us wealthy, it is wrong. India is exporting $60b a year in software solutions and services.
“Though Africa is coming late to the party, we can develop unique solutions ourselves. The whole world is watching us and ready to invest in us. Whether the government is there or not, when you have the will to create and sell convenience, all you need are strong believers and support.”
Mr Bukar who is also an Independent Director on the Board of DBN, appreciated the bank for organising the Techpreneur Summit, saying it showed the lender’s readiness to partner techpreneurs in the county.
“For DBN, I say this summit is the coming-out party in the tech space. This is one space I believe in, and we would continue to be a partner to techpreneurs. And DBN is ready to be such a partner to all Techpreneurs in the country. This is the first DBN Techpreneur Summit, and I know that we will continue this every year.
“Additionally, when I asked around, I found out that this summit is not just about having a conversation like this, it is for techpreneurs to find the necessary network, and more importantly access to finance on both sides of debt and equity. This shows that DBN is ready to be such a partner to all techpreneurs in the country,” he said.
Other discussants at the event included Iyin Aboyeji (Founder, Future Africa); Yemi Keri (co-founder, RisingTideAfrica/Independent Non-Executive Director, FCMB); Charles Anyanwu (Director, Strategy, Funding & Stakeholder Management, LSETF); Temie Giwa-Tubosun (founder, Life Bank) and Judith Okonkwo (founder, Imisi 3D).
The DBN is a wholesale development finance institution, established by the Federal Government of Nigeria in collaboration with global development partners (The World Bank, AfDB, KfW, AFD, and EIB) to address the major financing challenges facing Micro, Small, and Medium Scale Enterprises (MSMEs) in Nigeria.
By Aduragbemi Omiyale
An initiative known as Nigeria Lightning Rounds, designed to expand funding opportunities for Nigerian startups and small businesses by connecting founders with local and international investors, has been launched by ProvidusUnity Bank, in partnership with US-based global venture firm and accelerator, gener8tor.
Scheduled to be held on July 15, 2026, Nigeria Lightning Rounds will feature carefully selected startups engaging with targeted investors who have expressed interest in supporting Nigerian innovation.
Participating founders will have the opportunity to pitch their businesses through focused 15-minute virtual sessions facilitated by gener8tor and ProvidusUnity Bank’s networks.
The program will focus on high-growth sectors including fintech, healthtech, manufacturing, sustainability, and AI, but welcomes SMEs from all industries, with intending participants urged to apply via https://www.gener8tor.com/lightning-rounds/nigeria.
“We recognise that access to capital remains one of the biggest challenges facing entrepreneurs in Nigeria. Through our partnership with gener8tor, we are creating a platform that connects promising Nigerian founders with investors who can provide the support required to scale their businesses,” the Head of Business Development at ProvidusUnity Bank, Mr Ernest Elue, stated.
“The partnership reinforces ProvidusUnity Bank’s commitment to strengthening Nigeria’s entrepreneurial ecosystem by supporting innovation, enabling access to opportunities, and creating pathways for businesses with high-growth potential,” he added.
Also commenting, the Director of Lightning Rounds at gener8tor, Ms Elizabeth Larios, said, “gener8tor is thrilled to partner with ProvidusUnity Bank to extend the Lightning Rounds model into Nigeria.
“This collaboration reflects our commitment to building equitable ecosystems and driving capital to the most promising and underrepresented entrepreneurs.”
Lightning Rounds are a signature initiative of gener8tor’s investment platform, which has facilitated thousands of investor-startup meetings globally. The format is optimised to eliminate friction, reduce bias in early-stage fundraising, and help founders secure capital from investors aligned with their mission and stage. gener8tor’s previous Lightning Rounds for Nigerian Founders in 2025 featured 18 participating Investors and led to 50 investment meetings facilitated.
By Modupe Gbadeyanka
The verification of the depositors of the 46 microfinance banks, whose operating licenses were revoked by the Central Bank of Nigeria (CBN) over a week ago, has commenced.
The exercise, aimed at refunding those whose funds were trapped in the small lenders, is being conducted by the Nigeria Deposit Insurance Corporation (NDIC).
In a statement on Thursday, the agency said its staff members have been positioned at the offices of the affected banks across the country to attend to depositors.
It was disclosed that depositors of the defunct banks, who had their Bank Verification Numbers (BVNs) linked to their accounts in the failed banks, will be paid through their alternative accounts in existing banks.
However, depositors whose BVNs were not linked to their accounts in the failed banks have been encouraged to visit the affected banks’ offices with proof of account ownership, a passport photograph, verifiable means of identification (Driver’s Licence, Permanent Voter’s Card, International Passport or National ID Card) and BVN.
NDIC also stated that depositors can alternatively file their claims online through its website: www.ndic.gov.ng, to complete the Pre-Verification Claims Form by clicking on the Search Bar, and typing Pre-Verification Claims Form; opening the Form and filling in their details. They can also do so by clicking the link: https://ndic.gov.ng/ndic-pre-verification-claims-form/ or by visiting any of the NDIC offices closest to them to file their claims.
For further enquiries, the corporation can be reached on any of the following lines: 09037273810, 09038197064, 08104220807, 09064657140.
By Adedapo Adesanya
Nigeria’s Bank Verification Number (BVN) enrolment has slowed significantly in 2026 following the introduction of a stricter regulatory framework by the Central Bank of Nigeria (CBN), with the latest data from the Nigeria Inter-Bank Settlement System (NIBSS) showing that registrations are on course to fall well below last year’s record.
The BVN database stood at 69.55 million as of July 5, 2026, up from 69.32 million in June, indicating that only 228,947 new registrations were recorded over the period. Since the end of 2025, when the database stood at 67.8 million, total enrolments have increased by 1.75 million.
At the current pace, however, BVN registrations are unlikely to match the 4.3 million new enrolments recorded in 2025, suggesting a sharp deceleration in growth this year.
The slowdown comes after the CBN introduced a revised BVN regulatory framework in March, with the new rules taking effect on May 1, 2026. The framework tightened controls around enrolment, identity verification and fraud monitoring as part of efforts to strengthen the integrity of the banking system.
Among the key changes was the introduction of a minimum enrolment age of 18 years, effectively preventing minors from registering for a BVN.
The new framework also limits customers to a one-time change of the phone number linked to their BVN and requires financial institutions to place BVNs linked to suspected fraudulent transactions on a temporary watch-list for up to 24 hours while investigations are carried out.
The stricter rules contrast with last year’s surge in registrations, which was largely driven by the introduction of the Non-Resident Bank Verification Number (NRBVN) initiative that enabled Nigerians in the diaspora to complete BVN enrolment remotely, removing physical barriers and expanding access to the financial system.
Launched on February 14, 2014, the BVN scheme was introduced by the CBN in collaboration with the Bankers’ Committee, NIBSS and German technology firm Dermalog to assign every bank customer a unique biometric identity that can be verified across Nigeria’s banking industry.
