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Police Slam N2.4b Shipping Fraud Charge On Innoson

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By Ebitonye Akpodigha

Chairman of Innoson Nigeria Limited, Mr Innocent Chukwuma, has been charged with a four-count charge bordering on shipping fraud to the tune of N2.4 billion by the Inspector-General of Police, Mr Ibrahim Idris.

The suit, marked FHC/L/565c/16 filed, was filed before Justice Saliu Saidu of a Federal High Court sitting in Lagos and has five others as defendants, who are Innocent Chukwuma, Charles Chukwu, Maximian Chukwura, Mitsui Osk Lines and Anajekwu Sunny.

According to the police, the accused persons conspired among themselves to unlawfully falsify shipping clearance documents.

They were accused of uttering the allegedly falsified shipping documents by tendering same as collateral to Guaranty Trust Bank to allegedly obtain a loan of N2.4bn.

The police claimed that the defendants committed the offence at Apapa wharf on October 10, 2013.

The police prosecutor, who signed the charge sheet, U.S. Nwodo, said the offences are contrary to sections 1(2) (c) and 3(6) of the Miscellaneous Offences Act, Cap M17, Laws of the Federation 2004.

When the matter came up on Monday before Justice Saidu, the prosecuting counsel for the police, Mr J.I. Ajakaiye, informed the court that he had served the charge sheet on all the defendants through their counsel.

He said he had served Innoson Nigeria Limited and Chukwuma since October 21, while the 3rd to 6th defendants were only served on Monday morning through their counsel.

Counsel for Innoson Nigeria Limited, Mr George Uwechue (SAN), confirmed the receipt of the charge sheet by his client but said he needed time to study it.

The other defence counsel, Prof. C. Mbadugha and Mr Olusola Abioye, aligned themselves with Uwechue.

The prosecutor did not oppose the defence application for an adjournment.

Consequently, Justice Saidu adjourned further proceedings in the case till November 25, 2016.‎

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Connect Nigeria Introduces Quote Request Platform

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By Modupe Gbadeyanka

To make finding the right service provider or reaching the right customer seamless, popular local information portal, Connect Nigeria, has introduced a Quote Request platform.

Connect Nigeria described the new system as “a digital solution designed to make connecting with service providers faster, easier, and more reliable.”

It said the Quote Request was built for consumers who need services quickly and want trusted options without the stress of searching endlessly; and service providers and businesses looking for real, high-intent customers without spending heavily on marketing.

“Whether you need a caterer for an event, a plumber for your home, or a designer for your brand, the platform is designed to connect you with the right people,” Connect Nigeria added.

“By connecting demand directly with supply, the platform creates a more structured and dependable marketplace,” it further stated.

At its core, the Quote Request simplifies the entire process of finding and offering services.

To use the service, users have to submit a request describing the service or product needed, which is then sent to verified vendors on the platform. Interested providers respond within 1–2 days, and users compare offers and choose what works best for their needs and budget.

“Instead of searching for vendors, the vendors come to you, with relevant, tailored responses,” Connect Nigeria explained.

The company expects this new platform to eliminate the stress of endless online searches, delayed or vague responses, and uncertainty about service quality.

As for businesses, it solves poor visibility, inconsistent customer flow, and lost opportunities due to slow response times.

Connect Nigeria Quote Request mobile app is now available on the Google Play Store and Apple App Store.

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Mathesis Analytics to Scale AI-Powered Credit Infrastructure Across Nigeria

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By Aduragbemi Omiyale

An institutional investor, First Ally Capital, has strengthened a leading Nigerian financial technology company, Mathesis Analytics, to scale its proprietary credit decisioning infrastructure.

It made this possible by injecting fresh capital into the firm, which specialises in AI-powered credit decisioning infrastructure, an action that will directly support the growth and scaling of Mathesis’ core mission of providing the intelligence and infrastructure needed to bridge the credit gap for millions of unscored or underscored individuals across Nigeria.

With this investment, Mathesis will enable financial institutions to confidently assess and extend credit to borrowers who lack a formal credit history by leveraging an expanded pool of alternative behavioural and transactional data.

To date, Mathesis’ systems have supported more than 8 million loans for over 2 million unique borrowers in Nigeria, and the company is actively deploying its infrastructure to establish a growing pan-African footprint.

With the investment from First Ally Capital, Mathesis is well positioned to transform how the credit ecosystem operates, driving financial inclusion in partnership with lenders across the continent.

A significant barrier to credit access in Nigeria, which prides itself on being Africa’s largest economy, is data fragmentation. Borrowers frequently build positive financial behaviours across multiple digital platforms by repaying microfinance loans, saving through fintech wallets, or servicing Buy Now, Pay Later (BNPL) facilities.

However, under traditional credit infrastructure, these achievements remain invisible to new lenders.

Mathesis addresses this challenge through the concept of Personal Equity—the quantified expression of an individual’s financial behaviour aggregated across every institution with which they have transacted.

By translating these disparate signals into a precise, portable measure of creditworthiness, Mathesis creates a comprehensive credit identity that reflects the full breadth of a person’s financial life.

“True financial inclusion cannot be achieved in a vacuum; it requires structural collaboration in which lenders and fintech companies work as partners within the ecosystem.

“This investment from First Ally Capital validates our approach to reshaping credit infrastructure. By quantifying Personal Equity, we empower lenders to safely look beyond the constraints of formal credit histories and recognise a borrower’s true creditworthiness. This capital enables us to accelerate our pan-African expansion while maintaining the robust, institutional-grade infrastructure our partners rely on,” the chief executive of Mathesis Analytics, Winston Osuchukwu, stated.

On his part, the chief executive of First Ally Capital, Mr Ebenezer Olufowose, said, “At First Ally Capital, we pride ourselves on being a one-stop destination for financial solutions, offering a diverse portfolio of services ranging from investment banking and asset management to trusteeship, inclusive banking, and real estate.

“Our investment in Mathesis Analytics reflects our strong belief in the company’s vision and our commitment to supporting forward-thinking enterprises that deliver excellence.”

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MultiChoice Now Full Subsidiary of Canal+—CEO

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By Aduragbemi Omiyale

The chief executive of Canal+ Africa, Mr David Mignot, has disclosed that MultiChoice is now fully integrated into the media group.

Mr Mignot disclosed this via a statement issued on Thursday, noting that this development marks a new phase in the evolution of one of Africa’s leading pay television operators.

He noted that the integration positions MultiChoice within a global media organisation with an extensive international footprint.

“MultiChoice is now a full subsidiary of a truly international media group operating in 70 countries. The group was founded in France, is listed in London and Johannesburg, and has a strong African presence with operations in more than 45 countries,” Mr Mignot said.

The statement underscores the scale of the combined business, highlighting Canal+’s global reach alongside its significant investments across Africa.

The completion of the transaction is expected to strengthen MultiChoice’s position in the African media and entertainment market by giving it access to the broader resources, expertise and international capabilities of the Canal+ Group, while reinforcing the group’s commitment to the continent.

MultiChoice operates across sub-Saharan Africa through platforms including DStv and GOtv, serving millions of subscribers with entertainment, sports and news content.

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