When Mrs Agbaje started her school in Ibadan twelve years ago, she didn’t envision a tech-enabled future. Her dream was simple—provide affordable, quality education to children in her community. For the most part, she made it work. But as the school grew, a new challenge took root. It wasn’t infrastructure. It wasn’t teacher retention. It was something far more basic: getting paid.

Each new term brings the same pattern. Parents promise to pay fees “by next week.” Some follow through. Many don’t. As the term wears on, Mrs Agbaje finds herself juggling spreadsheets, reminder texts, and awkward conversations in car parks or at school gates. Meanwhile, salaries must be paid, books restocked, diesel bought. More often than not, she dips into personal savings to keep things running.

Her story is common across Nigeria. Small businesses—whether they’re schools, salons, logistics firms, or cooperative groups—are constantly navigating the emotional and financial toll of delayed payments. And it’s not just a matter of inconvenience. A recent study by MacTay Consulting found that Nigerian SMEs wait between 60 to 120 days on average to receive payment for services or products already delivered. That kind of delay is more than a hiccup. It threatens livelihoods. It blocks growth. It’s a silent killer.

For Chuks, who runs a car hire service in Enugu, the issue is tied to his bigger corporate clients. They insist on “net 30” or “net 60” terms—industry-speak for “we’ll pay you in a month or two.” That might be manageable for a large fleet with strong cash reserves, but for someone like Chuks, every week matters. With fuel prices rising and maintenance bills stacking up, he’s often forced to park cars because he doesn’t have the cash to fix them—even when work is lined up.

What links these stories is the reality that small businesses operate in a system where money is constantly in motion but rarely on time. Customers often mean well, but their own financial instability creates a domino effect. And the existing tools to manage payments—handwritten ledgers, POS machines, WhatsApp reminders—were never designed for structure. They’re patched solutions to a systemic problem.

Even digital banking, for all its advancement in Nigeria, hasn’t solved this issue. Many SMEs still operate informally, managing finances through personal bank accounts or apps not tailored to business needs. The result is a messy web of follow-ups, reconciliations, and emotional strain. Business owners become debt collectors, chasing down what they’ve already earned, time and time again.

What’s often missed in conversations about entrepreneurship is just how deeply this problem cuts. Payment delays mean rent can’t be paid on time. It means holding off on hiring a new staff member, or letting go of a part-time assistant. It means saying no to growth opportunities, not because they’re not viable, but because the cash flow isn’t predictable enough to take the risk.

And when you zoom out, the implications are national. Small businesses make up over 90% of enterprises in Nigeria. They contribute nearly half of the country’s GDP and employ a significant portion of the workforce. Yet, their greatest enemy isn’t market competition—it’s irregular income. This is a structural inefficiency that deserves far more attention than it gets.

Slowly, however, change is beginning to show. A quiet revolution is underway—one where technology is stepping in not as a trend, but as a tool for financial stability. More SMEs are beginning to explore digital solutions that streamline payments and reduce friction between businesses and customers.

Among these solutions is PaywithAccount, a new tool launched by Nigerian fintech company OnePipe. Designed specifically for businesses with recurring payments—schools, cooperatives, service providers—it allows them to automate collections directly from customers’ bank accounts. With full consent and transparency, payments can be scheduled, reducing the need for repeated follow-ups or awkward reminders.

For Mrs Agbaje, this has made a significant difference. Parents receive structured payment plans, reminders go out automatically, and debits happen based on prior agreement. She now spends less time tracking who has paid and more time planning curriculum upgrades and engaging with teachers.

The benefit isn’t just financial—it’s emotional. When business owners don’t have to chase payments, they gain time, clarity, and confidence. They can plan ahead, restock inventory, or finally invest in that expansion they’ve put off for years. And for customers, the experience feels more professional, more trustworthy. Everyone wins.

Technology won’t solve every problem for Nigerian SMEs. But smart, well-designed financial tools are starting to remove some of the biggest roadblocks—quietly and effectively. And that’s the point. The best systems aren’t flashy. They work in the background, reducing stress, restoring dignity, and enabling business owners to focus on what truly matters.

For Ope Adeoye, founder of OnePipe, the issue is personal. “Every Nigerian knows someone who runs a business—a cousin, a friend, a neighbour. When they suffer from late payments, it affects whole families and communities. Fixing this isn’t just a business goal—it’s a social one.”

In a country as dynamic and entrepreneurial as Nigeria, the challenge is rarely about lack of ideas. It’s about systems that help those ideas survive. And one of the most overlooked systems is the way money flows—or fails to.

As more SMEs embrace tools that put payment on autopilot, a future of stability—rather than constant survival—starts to feel possible. And in a nation powered by small businesses, that kind of shift could move mountains.

By Olubunmi Aina

Many experts have highlighted the growing impact of Artificial Intelligence (AI) across the financial industry, and I would like to share my perspective on a key functional area that typically drives business growth and profitability— sales and business development professionals and how AI is impacting their work.

Sales and business development professionals are often regarded as the engine room of an organization, thanks to their eye for business opportunities, ideation and conceptualization, market engagement and penetration expertise.

AI is enabling sales and business development professionals to automate tasks, take meeting notes, analyze data, and personalize customer experiences, all of which are embedded within CRM (Customer Relationship Management) systems. A CRM with an AI tool is what forward-thinking businesses are leveraging to manage leads, customer data, customer interactions, notify and remind professionals to take action when due, drive growth and profitability.

This is why it is crucial for these professionals to invest heavily in AI knowledge to remain globally competitive. This can be achieved through self-study, attending industry events, or consulting with leading technology companies that have embraced AI, such as Interswitch Group, AI In Nigeria, and Revwit.

Most importantly, to maximize the potential of AI, sales and business development professionals must pay close attention to customer interactions. and ensure they collect high-quality data. Feeding the data repository or CRM Systems with valuable insights and data from real customer engagement is key to getting AI to produce near accurate insight for effective results.

AI will continue to be a key driver of business growth and decision-making in the years ahead. If you are yet to embrace it, now is the time. Keep learning!

Olubunmi Aina is the Vice President, Sales and Account Management at  Interswitch Group

Motherhood in Nigeria is a dynamic force fueled by strength, resilience, and unwavering love. As Mother’s Day approaches, we celebrate the women who carry the weight of their families and communities, often while nurturing their dreams. From bustling market traders to ambitious entrepreneurs, Nigerian mothers are a force to be reckoned with.

However, the reality is that balancing these roles can be incredibly challenging. The daily hustle, coupled with the rising cost of living, often leaves little time or resources for personal aspirations. This is where the digital marketplace and platforms like Temu are beginning to play a significant role, not just in Nigeria but globally.

For Stephanie, a Nigerian hair and beauty influencer navigating the demands of work and motherhood, the ease of online shopping became invaluable. She discovered that purchasing baby necessities, like baby high chairs from Temu, from the comfort of her home significantly simplified her life, granting her more time to dedicate to her family and professional pursuits.

Beyond convenience, digital platforms are also fueling entrepreneurial success for women. Caterina Tarantola, a mother of three, achieved the remarkable feat of opening her translation and interpretation office in just 15 days. Her secret weapon was also Temu. Initially skeptical of online shopping, she found it to be a personal advisor, providing everything from office furniture to decor, delivered swiftly and affordably. This kind of direct access is precisely what can empower many Nigerian mothers who strive to maximise their resources and time.

Similarly, Lourdes Betancourt, who left Venezuela to start a new life in Berlin, turned to Temu when launching her hair salon. By sourcing essential supplies directly from manufacturers, she avoided costly markups and secured the tools she needed to turn her vision into reality.

Since Temu entered the Nigerian market last November, more Nigerian mothers have embraced the platform to access quality, affordable products. By shopping online instead of spending hours at physical markets, they can reclaim valuable time for their businesses, families, and personal growth.

This shift reflects a global trend as consumers worldwide seek convenience and affordability. In response, Temu has rapidly grown into one of the most visited e-commerce sites and was recognized as a top Apple-recommended app of 2024.

The digital marketplace, while still developing in a place like Nigeria, presents a significant opportunity for empowerment. The progress made thus far highlights the tremendous potential for positive impact.

This Mother’s Day, we celebrate Nigerian mothers’ strength and adaptability. Like Stephanie, Caterina, and Lourdes, they are turning challenges into opportunities—building brighter futures for themselves and their families with the support of innovative online platforms like Temu.