Banking
Western Lotto out to Make Nigerians Millionaires—MD
By Dipo Olowookere
Managing Director of Western Lotto Nigeria, Mr Elvis Krivokuca, has disclosed that the newly launched company was entering the Nigerian gaming industry to ensure Nigerians make money while having fun and playing the games.
Mr Krivokuca noted that this would be done by infusing fun and excitement into the lottery experience.
“Our explanation is centred on the nature of lottery as entertainment. Lotteries are number-based games of chance used mainly for entertainment, winning of prize and redistribution of wealth.
“Western Lotto Nigeria offers Nigerians the opportunity to experience and play the famous Power Ball, Euro millions, Euro Jackpot, UK Lotto and Mega Millions games, with a chance of winning a jackpot of N15 million.
“With these brand ambassadors, we are telling Nigerians that lottery is fun and they should enjoy themselves while playing the games,” the lottery firm’s boss said.
Speaking during the launch of Western Lotto Nigeria and the unveiling of its chain of brand ambassadors in Lagos recently, Mr Krivokuca said the choice of entertainers as brand ambassadors affirmed that lottery is entertainment.
The list of ambassadors for the Western Lotto Nigeria brand are Olu Jacobs, Zack Orji, Ramsey Nouah, Alex Usifo, Jide Kosoko, Osita Iheme, 2Face, Olamide and AY.
Added to the entertainment touch, Western Lotto also launched with a mobile application which is a disruption in the Nigerian lottery market.
The company further disclosed that plans were ongoing to add an African and Nigerian- centric game to its offering.
The new game which would be unveiled soon, will add a Nigerian touch to the Western Lotto lottery experience, while the society would benefit from the proceeds.
“Western Lotto is about you. It’s about that boy in Mushin, that girl in Maiduguri, about that madam in Yenagoa. It is 100 percent Nigerian. It’s a Nigerian initiative through and through. Your payments are in Naira. You can play and win in Naira. Western Lotto was set up mainly for two reasons: we want to offer Nigerians the opportunity to win big and also contribute towards good causes.
“We are partnering with organisations that cater for women who have been victims of ràpe. We are going to partner with people that have problem furthering their education.
“Western Lotto will partner with government on health care and sporting foundations. Western Lotto is about Nigeria: it’s our game. Let’s embrace it,” said Director of Western Lotto Nigeria, Mr Biodun Akintaju.
”We have decided to start from the known to the unknown: Power Ball, Euro millions, Euro Jackpot, UK Lotto, Mega Millions are all established games.
“We will allow Nigerians the opportunity of playing and winning in Naira. In the not too distant future, we are going to have a pan-African wholly run, played and payment made in Naira,” he added.
Speaking on the impact of lottery in a modern society, Veteran actor, Olu Jacobs, pointed out that it would help correct some social ills in Nigeria.
“Many things have gone wrong in Nigeria. It’s nice to have Lotto ease the pressure. Most of us have played lotto all over the world.
“I have some friends who play in London: at times with 10 to 20 pounds. I myself used to play when I was there. We didn’t kill ourselves doing it. Some people win because you have a good chance of winning. It is a delightful one with a surprise. I’m glad we have it here,” he said.
Powerball is an American lottery game played every Wednesday and Saturday night. Euro Millions is a transnational lottery. Its draws are held every Tuesday and Friday night. Euro Jackpot is a transnational European lottery launched in 2012.
The goal is to match 5 correct numbers out of 50 plus another 2 supplementary numbers out of another 10.
UK Lotto also known as the National Lottery was launched in 1994. UK Lotto is played every Wednesday and Saturday, while Mega Million draws are held every Tuesday and Friday.
By Aduragbemi Omiyale
A collaboration to enable fast money transfers into Nigeria has been entered into between Flutterwave and Xoom, PayPal’s international digital money transfer service.
The partnership allows Xoom transfers to be converted by Flutterwave and settled locally in Naira, enabling quick transfers directly into recipients’ bank accounts at Access Bank, UBA, Zenith Bank, First Bank, GTBank, and additional participating banks across Nigeria.
The deal also enables Xoom’s global network with Flutterwave’s local payout infrastructure, allowing users globally to send funds directly into Nigerian bank accounts with improved speed and efficiency.
Nigeria is the leading remittance recipient in Sub-Saharan Africa, receiving over $20 billion in personal remittances in 2024. Despite this volume, receiving international payments has historically remained complex due to FX constraints and settlement delays. This collaboration helps address those challenges in a market of more than 232 million people, where the ICT sector is projected to contribute 21 per cent of GDP by 2027.
By combining Xoom’s expansive reach with Flutterwave’s local compliance and banking partnerships, the two companies are providing a more accessible financial corridor for the continent.
Xoom, a PayPal service, is a fast and secure international digital money transfer service that enables consumers to send money, pay bills, and reload phones for friends and family in approximately 160 markets globally.
As part of PayPal’s global payments ecosystem, Xoom leverages advanced fraud protection, compliance capabilities, and a trusted global network to help millions of customers move money quickly and securely across borders.
“We’re excited to have been chosen by Xoom for their Nigeria expansion. Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This helps make it easy and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders,” the chief executive of Flutterwave, Mr Olugbenga GB Agboola, stated.
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.
