General
SERAP Seeks UN Help over Justice Odili Saga
By Adedapo Adesanya
The Socio-Economic Rights and Accountability Project (SERAP) has petitioned the United Nations over what it described as a vicious assault on Justice Mary Odili.
SERAP in a petition dated November 13, 2021, by its deputy director, Mr Kolawole Oluwadare specifically urged Mr Diego García-Sayán, the UN Special Rapporteur on the independence of judges and lawyers to “put pressure on the government of President Muhammadu Buhari to conduct a credible, thorough, impartial, independent, transparent, and effective investigation into the vicious assault on Supreme Court Justice Mary Odili by rogue officials.”
SERAP also urged him to “ask the Nigerian government to ensure that any investigation into the assault is based on human rights principles and protected from undue influence. The outcome of the investigation must be made public, and the suspected perpetrators and their sponsors brought to justice.”
SERAP’s petition followed the recent invasion of Justice Odili’s Maitama, Abuja residence by armed personnel.
The organisation said: “The intimidation and harassment of Justice Odidi is a flagrant assault on judicial independence, and apparently aimed at further weakening judicial independence and the rule of law in Nigeria.”
SERAP said: “The unconscionable attacks against Nigerian judges would seem to be a deliberate attempt by the authorities to exert pressure on the judiciary and undermine its independence and authority. These attacks are putting Nigerians’ freedoms at risk.”
According to the body, “The current investigation by the Nigerian police fails to meet international standards, as it is neither independent nor effective. As such, the investigation is incapable of identifying all the suspected perpetrators and their sponsors, and credibly delivering justice in the matter.”
The petition, read in part: “We urge you to push for the adoption of a resolution by the Human Rights Council to establish an international, independent, and impartial investigative mechanism into the attack on Justice Odili, and other unresolved cases of intimidation and harassment of the judiciary, and assault on the rule of law in Nigeria since May 29, 2015.
“An international investigation into the cases of intimidation and harassment of judges in Nigeria will meet the highest international standards and best practices, and assist the Nigerian authorities to take steps to improve respect for the independence of the judiciary, the rule of law, and access to justice for victims of human rights.
“If not urgently addressed, the attacks, intimidation and harassment of the judiciary may render judges unable to defend the rule of law, to provide accountability for the many gross human rights violations in the country, or to protect the rights of the Nigerian people.
“Nigerian authorities have a legal obligation to take measures to protect the independence of the judiciary and ensure the safety and security of individual judges.
“SERAP urges you to visit Nigeria to carry out a mission to investigate cases of intimidation and harassment of judges, assess the independence of the judiciary and the rule of law, and continue to monitor the situation.
“The proposed visit would help to support the efforts to bring Nigeria’s justice system in line with international standards, and free of political interference.
“Nigerian authorities continue to fail to thoroughly, impartially, independently, transparently and effectively investigate cases of attacks, intimidation and harassment of judges, the very people who protect and guarantee human rights.
“While the Nigerian authorities have arrested some of the suspected perpetrators, at least ten more persons reportedly involved in the assault on Justice Odili are still at large.
“Independence of the judiciary is enshrined in the Nigerian Constitution of 1999 [as amended], and under human rights treaties including the International Covenant on Civil and Political Rights and the African Charter on Human and Peoples’ Rights to which Nigeria is a state party.
“The attack on Justice Odili is not an isolated incident. There have been several violations of judicial independence and the rule of law in the country. In 2016, for example, Nigerian authorities reportedly invaded in the middle of the night the homes of some judges of the Federal High Court and Justices of the Supreme Court.
“The authorities have so far failed and/or refused to identify those suspected to be responsible and to bring them to justice.
“An independent judiciary is essential to the protection of human rights and respect for the rule of law. The principles of independence are the hallmarks of the rationale and the legitimacy of the judicial function in every State. Their absence leads to a denial of justice and makes the credibility of the judicial process dubious.
“It is the principle of the separation of powers, together with the rule of law, that opens the way to an administration of justice that provides guarantees of independence and transparency.
“As expressed in the Bangalore Principles of Judicial Conduct, “Judicial independence is a prerequisite to the rule of law and a fundamental guarantee of a fair trial.”
“According to our information, on Friday, October 29, 2021, some people claiming to be soldiers and policemen, invaded the Abuja home of Justice Mary Odili. The perpetrators identified themselves as members of a government joint task force, and used a fraudulently obtained search warrant to attempt to gain access into Justice Odili’s residence.”
“The perpetrators claimed they had information that illegal activities were going on in the residence.”
By Adedapo Adesanya
The Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, has announced that the United States Coast Guard (USCG) has lifted the Condition of Entry (CoE) imposed on vessels arriving in the US from Nigeria.
The development brings to an end a 12-year regime of enhanced security requirements on vessels calling at Nigerian ports before entering the United States and marks a significant milestone in the federal government’s efforts to strengthen maritime security, improve port competitiveness and enhance Nigeria’s standing in the global maritime industry.
The Condition of Entry, which took effect on June 25, 2014, required vessels destined for the US that had called at designated Nigerian ports within their previous five port calls to undergo additional security measures and enhanced scrutiny before gaining access to US waters.
Announcing the development, Mr Oyetola said the lifting of the restriction was a strong affirmation of the progress made by Nigeria in strengthening its maritime security architecture and implementing the International Ship and Port Facility Security (ISPS) Code across the country’s ports and maritime facilities.
He attributed the achievement to sustained efforts by the Federal Ministry of Marine and Blue Economy, through the Nigerian Maritime Administration and Safety Agency (NIMASA), in collaboration with relevant government agencies, port operators, terminal and facility operators, shipping companies and other stakeholders.
According to the Minister, the coordinated efforts were aimed at strengthening Nigeria’s maritime security framework, addressing identified gaps and demonstrating sustained compliance with internationally accepted maritime security standards.
Over the past two years, the United States Coast Guard conducted four comprehensive assessments of Nigeria’s national maritime security framework and port facilities. The assessments were carried out from March 11–13, 2024; April 15–19, 2024; March 15–21, 2025; and April 13–17, 2026. The results of the assessments demonstrated significant progress in Nigeria’s maritime security performance and implementation of the ISPS Code, ultimately leading to the lifting of the Condition of Entry.
Mr Oyetola described the development as a significant achievement for Nigeria’s maritime sector, noting that it reflects the impact of sustained regulatory oversight, institutional collaboration and NIMASA’s commitment to strengthening maritime security.
“The lifting of the Conditions of Entry is a major milestone for Nigeria’s maritime sector. It is a strong affirmation of the progress we have made in strengthening maritime security and implementing the ISPS Code across our ports and facilities,” the Minister said.
“We are committed to sustaining this momentum and ensuring that Nigeria remains a safe, secure and competitive destination for international shipping,” he added.
The Minister also commended the Director-General of NIMASA, Mr Dayo Mobereola, and his team for their contribution to the achievement, describing the lifting of the restriction as evidence of the positive impact of effective regulation, stakeholder collaboration and sustained investment in maritime security.
Mr Oyetola noted that the significance of the development extends beyond maritime security, with the potential to improve the competitiveness and efficiency of Nigerian ports and strengthen Nigeria’s position within the global maritime economy.
The lifting of the CoE is expected to facilitate faster vessel turnaround and improve schedule reliability, while reducing costs associated with additional documentation, inspections, security measures and entry-related delays.
It is also expected to make Nigerian ports more attractive to international shipping lines, encourage increased shipping activity and contribute to greater trade, investment, employment opportunities and port revenues.
A mobile app can look simple from the outside. Behind the screen sit payments, data, customer acquisition and costly infrastructure. Investors increasingly care about what happens after someone downloads an app. The stronger question is whether users return, transact and generate predictable revenue.
Real-time platforms make that question especially interesting. Payments, trading, entertainment and badminton live betting online all depend on fresh information. Users expect updates without noticeable delays. For investors, the visible product is only the front door.
Transaction Volume Says More Than Download Numbers
Downloads make an easy headline. They reveal much less about the economics behind a digital business.
An app can collect millions of installs and still struggle to turn attention into revenue. Active users and transaction frequency provide a clearer picture. Payment activity tells investors even more because it records an action, rather than a simple app visit.
The scale involved is already huge. NIBSS reported in July 2026 that electronic payments reached N1.07 quadrillion over the preceding year. The figure shows just how much commercial activity now depends on digital payment infrastructure.
Instant payments have expanded sharply too. NIP transaction volumes rose from five billion in 2022 to 11 billion in 2024. That represents 120 percent growth in two years.
There is a business behind every successful transaction. Banks earn fees, processors move funds and technology companies provide software. Data centres, cybersecurity services and networks support the same chain.
Digital payments therefore reach far beyond fintech. They form infrastructure for a much larger mobile economy.
Investors Are Looking Beneath the Interface
Fast user growth can attract attention. Yet downloads alone say little about whether a platform has a durable business model.
Three measurements reveal far more:
- Active users show whether an audience keeps returning after acquisition.
- Transaction frequency shows how deeply a product fits into everyday behaviour.
- Revenue per user separates popular platforms from commercially productive ones.
None tells the whole story alone. High transaction frequency becomes less attractive when customer acquisition costs swallow the resulting revenue.
Retention can expose the same weakness. A company may spend heavily on promotions and quickly attract a large audience. Those users can disappear just as quickly when incentives stop.
Strong mobile models give people a reason to return naturally. Banking apps have balances and transfers. Trading platforms have changing prices. Entertainment services have new content and events.
Live information creates another reason to open an app repeatedly. Each return gives the business another opportunity to process transactions or sell additional services.
Infrastructure then starts affecting valuation. Fast response times and stable service may sound like technical details. For customers, they determine whether an app works when it matters.
Mobile Money Creates New Value Inside Established Businesses
Telecommunications offers a clear example. Mobile money operations can become valuable business units rather than simple additions to network services.
In April 2026, MTN Nigeria announced a restructuring involving MoMo Payment Service Bank and Y’ello Digital Financial Services. Its parent group would acquire 60 percent interests in the businesses. The transaction valued the fintech companies at N95.5 billion.
MoMo PSB provides deposits, transfers, payments and digital wallets through mobile channels. Y’ello Digital provides agency banking services through the wider ecosystem.
A customer can therefore become more than a phone subscriber. The commercial relationship can extend into payments and other financial activity.
That logic appears across digital businesses. Companies want customers to complete more useful actions without leaving their ecosystem.
The attraction is straightforward. An existing customer can cost less to serve with another product than a completely new customer costs to acquire.
Bigger ecosystems still bring bigger technical demands. More transactions require stronger processing, fraud controls and customer support.
Real-Time Platforms Put Infrastructure Under Pressure
Some mobile businesses face an extra challenge. Their products change by the second.
Sports platforms are a good example. Fixtures, scores and live events can create sudden traffic spikes instead of smooth daily demand.
A betting app combines mobile access with live sports information and event markets. Major fixtures can bring large numbers of users into the platform within minutes.
That makes capacity important. A platform must handle demand at its busiest moment, not just during an average hour.
Payments add another layer. Users expect deposits and account actions to work without a long chain of separate steps.
The same problem appears outside sports. Trading apps face traffic spikes around market events. Payment services see peaks around shopping periods and salary dates.
For investors, monthly user totals tell only part of the story. Reliability during peak demand can protect revenue that might otherwise disappear within minutes.
Backend infrastructure deserves attention alongside consumer growth.
Payment Infrastructure Has Become Part of the Investment Story
The network underneath mobile payments is changing as well.
NIBSS introduced its National Payment Stack in 2025. The infrastructure supports instant transactions, real-time settlement information and cross-border compatibility. It also includes open-banking integration and risk-scoring functions.
The system builds on NIBSS Instant Payments, launched in 2011. NIP now handles billions of transactions each year.
Speed matters because mobile businesses increasingly depend on immediate actions. A delayed payment can interrupt a purchase or account transaction at the exact moment a customer wants it completed.
Infrastructure investment therefore sits underneath consumer-facing digital growth. More mobile activity needs processing capacity, connectivity, identity systems and security.
Business Post has documented how companies are connecting these layers. In May 2026, Redtech partnered with MoMo PSB and UBA on a cardless payment integration. Customers can use MoMo wallets at participating merchant locations through RedPay infrastructure. Business Post’s report on the payment partnership
Such integrations reduce barriers between banks, telecom operators and fintech businesses. They can also make each participating network more useful.
For investors, interoperability can matter almost as much as scale. A closed platform must build more functions itself. Connected businesses can reach customers and services through partners.
Capital Is Following Digital Businesses
Funding activity offers another clue about how investors value digital companies.
The Investment in Digital and Creative Enterprises programme launched with $617.7 million in funding. Its Startup Bridge added two funding paths in March 2026.
Idea-stage founders can receive grants of up to N10 million. Qualifying startups with launched minimum viable products can receive $100,000 in equity investment.
The amounts are small beside large corporate transactions. The structure is more interesting than the headline numbers.
Capital can reach businesses before they become established companies. Early funding supports product development. Later investment can finance infrastructure, customer acquisition and expansion.
The difficult part starts after the money arrives.
Digital businesses still need to prove that growth produces durable economics. High user totals mean little when retention collapses. Heavy transaction activity also loses appeal when processing and promotional costs consume revenue.
Investors therefore have good reason to look beyond the app itself.
The Numbers Behind the Screen Matter Most
Mobile-first businesses may be easier to launch than traditional companies, but scale remains expensive. Every additional user creates demands somewhere in the system.
Payments need processing. Accounts need security. Real-time products need reliable data. Large audiences need infrastructure capable of surviving their busiest moments.
The investment case rests on more than popularity. Repeat usage, transaction activity, infrastructure quality and revenue efficiency reveal much more about a platform.
Electronic payment volumes already show the size of the opportunity. The harder question is which companies can build profitable services on top of that infrastructure.
Some platforms will collect millions of downloads and little staying power. Others will quietly turn repeated mobile activity into dependable revenue.
For investors, that difference is where the real story begins.
By Adedapo Adesanya
Terra Industries, a Nigerian defence technology startup, has raised an additional $18 million, extending its seed round for the second time this year and bringing the total funding it has raised to $51.75 million.
The latest extension follows two funding announcements earlier in 2026. In January, Terra Industries announced an $11.75 million round before raising a further $22 million in February.
Existing investors 8VC and Nova Global participated in both rounds, signalling continued confidence in the company’s strategy and growth prospects.
The latest $18 million extension includes participation from existing investors 8VC, Nova Global, Silent Ventures, Belief Capital, and SV Angel. It also brings two new investors into the company: Norleo Space Investments and angel investor, Mr Grant Gordon.
The company is expected to use all the new funding to scale its manufacturing capacity in Africa and build out its presence abroad.
Part of the expansion plans is to open its first European office in London, the United Kingdom.
In April, Terra also announced its first manufacturing facility outside of Nigeria, a 34,000-square-foot factory in Ghana called Pax-2, which will be Africa’s largest drone factory and where the startup expects to produce 50,000 autonomous systems annually once it’s fully operational in 2028.
Since it was founded in 2024 by Mr Nathan Nwachuku and Mr Maxwell Maduka, who were just 21 and 23, respectively, at the time, Terra has moved fast to roll out a wide range of autonomous systems on their way to building stronger Africa defense systems. So far, some of these techs include Archer: a VTOL drone with a 1,000km range, 13 hours of endurance, a 9-pound payload capacity, and a 26-foot wingspan, as well as Kallon, a solar-powered sentry tower with AI-enabled edge processing and a whole bunch of sensors to detect and track threats several kilometres away.
Others include Iroko, a small quadcopter drone for ISR or one-way attacks; and Kama, a new interceptor drone with a top speed of 300km/h among others.
Valued at over $100 million, Terra also aims to strengthen local sourcing of raw materials, reduce dependence on imports, and enhance domestic industrial capacity and strategic autonomy for Africa.
