By Adedapo Adesanya

Nigerian human resources management company, SeamlessHR, has raised a $9 million Series-A extension round, three years after it raised $10 million Series A funding.

The company plans to use the new funding to drive its expansion across Africa, which may include acquisitions.

The fresh funding was backed the Gates Foundation and Helios Digital Ventures. This is a change from the norm as the raise in 2022 was led by TLcom Capital, with significant contributions from Capria Ventures, Lateral Capital, Enza Capital, Ingressive Capital, and some private investors.

The startup builds world-class cloud solutions to help organisations manage most HR processes on one platform, will be looking to acquire a firm in Nigeria and set its sight on new frontiers in Southern and East Africa.

The new round of funding brings SeamlessHR’s total fund raised to about $25 million.

Before it raised the $10 million in 2022, it raised an undisclosed seed round from the same investors and Consonance Investment Managers in 2020. SeamlessHR, founded in 2018, raised a $150,000 pre-seed round from Tofino Capital and Ventures platform in 2019.

Announcing the raise, Mr Emmanuel Okeleji, SeamlessHR’s Co-founder and CEO said the raise will allow it to continue serving both private and public entities.

“Over the last 5 years, we have expanded across the continent to become the dominant HR and Payroll Software for medium to large enterprises in Africa.

“While we continue to accelerate our work to optimize workforce productivity in both the public and private sectors across the continent, much of our attention will also be on empowering hardworking Africans with responsible credit products that will help them use their employment as collateral to enjoy a better life,” he said.

SeamlessHR comprehensive suite of tools covers everything from core HR functions and performance management to payroll and recruitment. In 2024, they added an e-procurement platform to their product offerings.

Among some of its customer base including PwC, Sterling Bank, and Lagos Business School as well as entities in Ghana and Tunisia.

By Adedapo Adesanya

The Lagos State House of Assembly on Friday named four new principal officers, following the impeachment of the former Speaker, Mr Mudashiru Obasa, on Monday.

Mr Obasa, who was ousted as Speaker in absentia, a position he has held for the last nine years, was replaced by Mrs Mojisola Meranda (APC-Apapa 1).

Mr Obasa was impeached on Monday over alleged gross misconduct by 32 out of the 40 members.

The Clerk of the House, Mr Lekan Onafeko, was also suspended over alleged gross financial impropriety.

The House also dissolved all the standing committees inaugurated by the former speaker.

On Friday, Mrs Meranda, while presiding over plenary as Speaker, said the appointment of new officers arose from the change in the leadership of the House.

“The House has named Mr Temitope Adewale (APC-Ifako-Ijaiye 1) as the new Majority Leader, while Mr Adedamola Kasunmu (APC- Ikeja 1) is the new Deputy Majority Leader.

“This House has also named the Chief Whip, Mr Setonjo David (APC-Badagry 2), while the Deputy Chief Whip is now Mr Babatunde Saani (APC-Kosofe 2),” she said.

Before Mr Obasa’s impeachment, Mr Mojeed Adams was the Majority Leader, while Adedamola Kasunmu was the Deputy Leader.

Mr Mojeed Adams, the new Deputy Speaker, was the former Chief Whip, while Mr Setonji David was the Deputy Chief Whip.

Business Post reports that three lawmakers, primarily Mr Obasa, Mr Adams and Mr Akinsanya, were absent at the first plenary presided over by the new leadership.

By Aduragbemi Omiyale

Fidelity Bank Plc has received the authorisation of the Central Bank of Nigeria (CBN) to appoint three directors to its board, a statement from the lender has disclosed.

Business Post reports that the bank picked Mr Abdullahi Sarki Mohammed as an independent non-executive director, Ms Obiaku Augusta Okam as a non-executive director, and Mr Sufiyanu Ibrahim Garba as an executive director, all effective January 14, 2025.

The company disclosed that the three directors were chosen to strengthen its leadership in a strategic move to sustain its impressive performance, as Mr Isa Mohammed Inuwa and Mr Chidi Agbapu retired from the board as an independent non-executive director and a non-executive director, respectively.

The chairman of Fidelity Bank, Mr Mustafa Chike-Obi, in a notice to the Nigerian Exchange (NGX) Limited, welcomed the appointees to the board and looked “forward to leveraging their extensive experience to drive the bank’s strategic objectives and further its growth trajectory.”

Mr Mohammed brings over 36 years of experience in financial services, public administration, and human resources development, having held key leadership and executive roles at prestigious institutions including First Bank of Nigeria Plc and Polaris Bank Limited. His extensive expertise encompasses banking, public service, and business advisory.

On her part, Ms Okam boasts more than 30 years of impressive experience across the banking, financial services, real estate, and retail sectors. Currently the Managing Director/CEO of Skycurve Nigeria Limited, she has held leadership positions at Zenith Bank Plc and Nigeria International Bank Limited (Citibank).

As for Mr Garba, he has over 30 years of multifunctional and cross-border experience at leading financial institutions in Nigeria and the United Kingdom including executive and leadership roles at prestigious financial and non-financial institutions such as Access Bank Plc, Union Bank of Nigeria Plc and Keystone Bank Limited. His career background spans banking, financial services, public service, general management and business origination across a broad range of segments.