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Just two weeks ago, the CBN banned the use of Naira to acquire or trade Crypto currencies. This decision was based on concerns around KYC, AML (anti — money laundering) and terrorism etc. But all fiat currency is used for that too. Secondly it’s only a small fraction of the population that have access to crypto usage capabilities, but the impact of this decision can be huge. A pretty insignificant fraction of the population has been responsible for Nigeria being the second largest trading spot for Global P2P player, Paxful [trading $566m over 5 years].

Why don’t we channel these…


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Having worked in banking all my adult life, having worked at Diamond Bank for over 20 years, having been the Group Managing Director there and having overseen its merger with another bank… it’s virtually impossible for me not to be associated with the label of “banker”. But I don’t see myself as one. And I’ll tell you why. For me, the banking that we have now is suited for a Nigeria of 20-30 years ago, whereas I prefer to see myself in the present and future of the sector.

At the Investment and Corporate banking level, there is adequate information…


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Capital is a safety net that allows you to take risk or go through perilous times and survive

From both a business and personal perspective, of everything that comes to mind when analysing and trying to put 2020 into some sort of order, the concept of “Capital” sums up the year for me; in every sense of the word.

From a business perspective — those who had accrued financial capital to fall back on during the toughest times, were able to continue to do business — paying bills, paying staff. That in itself — ensuring timely payments of salaries, is…


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My new enterprise started life as a small, crack team of experts who would be the core, the essence, the heartbeat of Sparkle, but who essentially would also oversee the procurement and outsourcing of experts to join and build our tribe. That was the concept.

I have always been a believer in letting the experts work their magic. I knew what Sparkle could be, I knew the tactics we would need to employ to make it happen. Whilst I don’t advocate the “it takes 10,000 hours to become an expert in….”


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photo by : @olabodeskills

The current demonstrations taking place in Nigeria are like nothing we’ve seen before. Yes, we’ve seen protests — often led by various unions — but they [to my knowledge] have never unified so many people with one, unified voice, so fast. A typical protest in Nigeria will have a leader or figurehead of some sort, and maybe some surrounding factions pressing ahead with their individual agendas, and there might be a localised protest for a day or two and perhaps even an open letter printed in the national press.

Targeted at the country’s Special Anti-Robbery Squad [SARS], this movement has…


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I consider myself to be a fully signed up servant to the digital world; I am old enough not to be a digital native — I remember all too well the days of endless paper trails, and have actively fought against the old ways and embraced digital technology to make my personal and business transactions simpler. I knew early on that life would be easier with everything online. Faster, safer, better transparency — at home, at work. Diamond Bank was the first Nigerian bank to go paperless and to fully, fully adopt digital as a means of doing business and…


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According to a report by PWC, only around 1.5% of Nigerian adults are covered by insurance today. When I read that, I was actually almost surprised it was that high. I’d say that the sector is broken, but that would suggest it had, at one point, been “fixed”. It has never been fit for purpose, hence the incredibly low adoption rates and the fact that insuring oneself against risk has not really entered Nigerians’ collective consciousness. All this, and we have no real State or Government infrastructure to support us for when things go wrong either.

The insurance sector we…


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Day zero of Sparkle, we knew one thing. We were going to be a fully digital, online platform. No paper, no public-facing property, and importantly, no cards. We were a mobile-first digital finance platform. We were going to leverage digital to build a platform around our customers to provide them with a simple, transparent experience that would be difficult for traditional platforms to do.

So, why no more cards? To the Sparkle team, they felt clumsy and unnecessary; multiple accounts = multiple cards, which is essentially just more life admin and more to carry around. They are also a costly…


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Today was a sad day for me. It was also an opportunity to reflect on one of our values and how important values are. Important because when you think deeply about Values, they are actually something you can’t put a value on. You realIy can’t monetize them. They are priceless. However you can see the damage it causes when values, and the trust that they until, are broken.

Today I found out that a colleague of mine, someone I had worked with for over 5 years and who was treated like a member of my family, who I deliberately took…


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Nigeria has one of the largest entrepreneurial workforces on the planet. Over 37million small businesses and counting. Why? Is it in our blood? Is it in the water? Perhaps. But it’s also due to necessity. Nigeria and Nigerians are entrepreneurial because they have to be; there’s no other realistic means of surviving. We work and we build and we adapt as if our lives depended on it. Our country’s overall lack of infrastructure and societal organisation means that the gaps are filled not by the State, but by the people; by entrepreneurs.

“Necessity is the mother of invention”

In terms…

Uzoma Dozie

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