Technology
Verto Expands Payments Offering to UAE Market
By Adedapo Adesanya
Cross-border financial solutions company, Verto, has announced its expansion to the United Arab Emirates (UAE) to enhance the existing flow of trade between the emirates and emerging market currencies.
With over $25 billion processed annually for clients such as Unilever and Maersk, the company’s platform is designed to address the unique challenges of cross-border payments between the UAE and emerging market currency corridors (particularly in Africa), offering businesses a faster, more secure, and cost-effective way to handle high-value, time-sensitive transactions.
Verto now has an expanding team located in the Emirates Financial Tower, DIFC, Dubai, UAE, after it got licensed by the Dubai Financial Services Authority to provide money services, advise or arrange money services, and carry on authorised Financial Services with or for Retail Clients Holding or Controlling Client Assets.
“The UAE is a pivotal hub for global commerce, and businesses here demand solutions as dynamic as their operations,” said Ms Helen Ghebreluul, Verto’s UAE Country Manager, “Our platform is built to handle the high-value, time-sensitive nature of these transactions, particularly in emerging markets in Africa. We’re not just a service; we’re a critical partner, ensuring that a company’s payments move as fast and reliably as their business.”
Verto’s platform combines local operations in the UAE with robust payment rails across key markets, beneficial for businesses trading along key corridors, including the UAE to Nigeria, Kenya, South Africa, West Africa, and China.
Businesses using Verto’s solutions can expect to experience fast settlement as the platform enables instant or near-instant payments, which is vital for a sector where delayed payments can stall the entire supply chain and provides competitive and transparent foreign exchange (FX) rates, offering businesses hedging options and flexibility.
For instance, companies can lock in favorable rates to protect against currency volatility. The platform also features a multi-currency account to hold money in different wallets and an Auto Exchange feature to automatically execute trades at an ideal rate.
The platform also allows users to track payments from end-to-end, reducing issues where payments are lost in transit and eliminates hidden fees and spreads often associated with traditional banking.
“Businesses are the lifeblood of global supply chains, but they face constant challenges from currency volatility and slow, traditional payment systems,” says Mr Ola Oyetayo, CEO and Co-founder of Verto, adding that, “Verto empowers these businesses by giving them the tools to mitigate FX risk, accelerate settlements, and optimize their cash flow. We believe in providing global reach with local strength, leveraging our expertise in key emerging markets to ensure that wherever a company’s goods go, their payments follow instantly and securely.”
Technology
4 Nigerian Firms for 2026 Google for Startups Accelerator Africa Cohort
By Aduragbemi Omiyale
Four Nigerian firms have been selected to join the 10th Google for Startups Accelerator Africa Cohort, which began on April 13 and will end on June 19, 2026.
Fifteen companies are participating in the hybrid programme, which will receive dedicated guidance from experienced mentors and industry experts, alongside hands-on technical workshops focused on AI and machine learning.
The four Nigerian startups chosen for this scheme include Bani, MasteryHive AI, Regxta, and Termii.
They were picked from an exceptionally competitive pool of nearly 2,600 applications. The beneficiaries are utilising Artificial Intelligence (AI) to address critical local and regional challenges.
As for Bani, it is a cross-border payments infrastructure platform eliminating settlement delays for African businesses trading globally, while MasteryHive AI is an AI-native platform automating transaction reconciliation, fraud detection, and AML monitoring.
On its part, Regxta combines alternative data-driven credit scoring with a hybrid digital-agent distribution model to deliver financial products to unbanked micro businesses, while Termii uses its AI-native communications infrastructure platform to ensure reliable financial messaging for banks and fintechs.
African tech founders are actively solving fundamental infrastructural challenges, bridging gaps in financial inclusion, healthcare, and supply chains with complex AI.
The continent’s venture ecosystem showed remarkable resilience by raising $3.9 billion in 2025. However, scaling deep-tech solutions requires specialised technical infrastructure, advanced cloud capabilities, and strategic mentorship to complement this capital.
Accelerator initiatives provide these exact tools, ensuring local innovations can sustainably grow into businesses that power the continent’s digital economy.
“At Termii, we’re building AI-powered infrastructure that ensures financial transactions don’t fail, from login PINs to payment OTPs and fraud alerts.
“The Google Startup Accelerator is helping us accelerate our AI roadmap and scale globally, and even in the first week, access to technical support and insights has been incredibly valuable for our next phase of growth,” the chief executive of Termii, Mr Gbolade Emmanuel, stated.
“We are absolutely thrilled to welcome these exceptional founders into Class 10. African startups are driving essential economic growth and social development.
“Our role is to serve as a supportive partner, providing these developers and founders with the technical infrastructure, mentorship, and global network they need to scale their solutions and amplify their real-world impact,” the Head of Startup Ecosystem for Google Africa, Mr Folarin Aiyegbusi, disclosed.
Since launching in 2018, the Google for Startups Accelerator Africa program has supported 106 startups from 17 African countries, empowering them to collectively raise over $263 million and create more than 2,800 jobs.
Technology
19 Startups Pitch Solutions to Investors, Others at Demo Day in Ilorin
By Modupe Gbadeyanka
Nineteen emerging startups are being showcased at the 2026 Demo Day organised by the Ilorin Innovation Hub in partnership with IHS Nigeria, a part of IHS Holding Limited, also known as IHS Towers.
The participating small firms took part in the hub’s accelerator and incubation programmes. At this event, themed The Convergence, they will pitch their solutions to investors, venture capital funds, corporate partners, and the media.
The platform would be used to help them unlock funding opportunities, foster strategic collaborations, and amplify visibility for these startups that are developing solutions across critical sectors, including agriculture, health-tech, green energy, lifestyle, and digital services.
“We believe innovation and digital technology are powerful drivers of economic growth and sustainable development. This is why we partnered with the Kwara State Government on the Ilorin Innovation Hub.
“It is impressive and very fulfilling to see the diverse portfolio of ideas and solutions showcased today from the hub within a year of the commencement of operations. This speaks to the depth of creativity among Nigerians and what is possible when they are equipped and supported.
“Today’s event makes me proud of our investment in the space and underscores IHS Nigeria’s continued commitment to supporting technology, entrepreneurship, and digital innovation in Nigeria,” the chief executive of IHS Nigeria, Mr Mohamad Darwish, said.
The Managing Director of Ilorin Innovation Hub, Temi Kolawole, also said, “Today, we showcase 19 startups that have shown that when you combine talent with the right support, the results speak for themselves.
“The Ilorin Innovation Hub exists to ensure that geography is never a barrier to building something extraordinary, and this Demo Day is proof that we are on the right track.”
The Ilorin Innovation Hub, a partnership between the Kwara State Government and IHS Nigeria, began operations in February 2025 with programmes managed by Co-creation Hub and Future Africa.
The Demo Day presents an opportunity to take stock and assess how the Ilorin Innovation Hub is helping to nurture and bring to life groundbreaking ideas and solutions supporting economic resilience and addressing real-world societal challenges.
Technology
Lagos Tightens Cyber Defences to Attract Investment, Protect Businesses
By Adedapo Adesanya
The Lagos State Government has released a set of cybersecurity guidelines to enhance digital safety for businesses, public institutions, and residents in the state, which is home to thousands of enterprises.
A statement by the State’s Commissioner, Information and Strategy, Mr Gbenga Omotoso, noted that the development represents another decisive step in Lagos’ mission to become a secure and globally competitive digital hub.
The National Information Technology Development Agency (NITDA) estimates that Nigeria loses over $500 million (approximately N250 billion) annually to cybercrime, underscoring the urgency for stronger, coordinated security measures.
Lagos’s rapid evolution into a SMART City heightens vulnerability to cyber threats, Omotosho noted, adding that the newly issued guidelines outline clear, practical, and scalable cybersecurity best practices for small businesses, medium and large enterprises, and Ministries, Departments, and Agencies (MDAs).
They are aligned with key national frameworks, including the Cybercrime Act (2024), the Nigeria Data Protection Act (2023), and the National Cybersecurity Policy and Strategy (2021).
According to the guidelines, these recommendations are not regulatory mandates but tools designed to empower stakeholders with practical, context-specific guidance.
The Lagos State Government reaffirmed its commitment to fostering a secure digital environment that promotes innovation, investment, and public trust.
“The guidelines further strengthen Lagos State’s leadership in advancing digital trust and building a resilient, future-ready digital economy.
“The Government praised the Lagos State Cybersecurity Advisory Council, chaired by Prof. Fene Osakwe, for its strategic leadership and technical expertise in developing the framework.
“The release of these guidelines underscores Lagos State’s unwavering dedication to safeguarding digital assets, enhancing public-private collaboration, and ensuring that every organisation—from sole proprietorships to multinational corporations—can operate confidently in a secure digital environment.
“As the document highlights, A cybersecure Lagos is essential for sustaining its position as one of the most dynamic and globally competitive tech hubs of the 21st century”, the statement added.
The Lagos State Government said it will continue to refine and expand the guidelines to address emerging threats and evolving technologies, ensuring that cybersecurity remains a foundational pillar of the State’s digital transformation.
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