Business
AKWA IBOM: HOW ENTREPRENEURS ARE DRIVING ECONOMIC DISRUPTION VIA FINTECH
MefLyN AnwanA
A large number of people use fintech solutions. If we check our phones and mobile gadgets for example, we will find one or two apps that we use regularly for finance-related transactions and activities.
According to Wikipedia, Financial technology (FinTech) is the technological innovation that aims to compete with traditional financial methods in the delivery of financial services. It is an emerging industry that uses technology to improve activities in finance. The use of smartphones for mobile banking, investing, credit service and cryptocurrency are examples of technologies aiming to make financial services more accessible to the general public. Financial technology companies comprise startups, established financial institutions and technology companies trying to replace or enhance the usage of financial services provided by existing players.
The outbreak of the COVID-19 pandemic has posed great challenges to economic activities and will have far-reaching consequences. On the other hand, crisis is also a strong driver of creativity and innovation. Indeed, if examined closely, one can already observe the results of creativity and innovation emerging at individual levels across the globe.
Public Transportation brings people into close contact in a confined space, increasing their risk of exposure to the virus. Interestingly, the Akwa Ibom State Government has issued public transport guidelines to operators and passengers to curb the spread of the Coronavirus. However, while the directives expect passenger spacing to be fully observed, passengers tend to have an increased risk of acquiring the virus, given their close contact with others. Moreover, cash payment, which is predominant amongst public transport users, tends to place passengers and drivers at high risk of contracting the virus easily – and further spreading it. Sincerely, it is tasking to practice social distancing amongst many transport users.
Framed against this backdrop, it is noteworthy to witness the emergence of companies proffering dynamic solutions via Fintech in the transport sector. One such startup is DRYVA, which is introducing an interesting Fintech model of combating the spread of covid-19 while enabling cheaper, faster and more convenient transportation. The company aims to bridge the urban needs of the transportation sector using smart technology that suits the Retailers market, and also provide cashless and very affordable fares, as well as effective security for customers to curtail social vices which are common in the urban mass transit transportation system. This system is bound to add immensely to the growth in the transportation sector.
Increasingly, entrepreneurs in Nigeria and Akwa Ibom state are deploying fintech solutions as strategies for scaling their businesses, delivering goods and services, and meeting the needs of clients. Some of them have integrated payment gateways and processors on their e-commerce websites and apps. A customer can shop for an item on a vendor’s site, make payment via Paystack or a flutter-wave gateway embedded on the platform, and receive the product via dispatch services. This synergy contributes to efficiency and reduces the hassles associated with handling cash.
Fintech solutions are indeed disrupting the way we do business.
Five months ago, as a result of the covid-19 pandemic, Facebook launched Facebook Shops, a platform on Facebook and Instagram for small business owners, big brands, and customers to make buying and selling easier with payments made using credit cards. Today, with shops currently locked in some states in the US due to the second wave of the pandemic, fintech solutions like Facebook Shops are helping users run their businesses effectively.
In today’s digital landscape, the adoption of FinTech is inevitable for financial institutions to stay competitive in the financial industry. Since their sudden appearance in the aftermath of the 2008 financial crisis, FinTech startups have been disrupting the financial scene by offering digitized financial services that are much more convenient for customers, compared to traditional banking. As a result, established monetary institutions will need to adapt and rebrand by leveraging the benefits that FinTech has provided.
In the course of the lockdown occasioned by the pandemic, there was an upsurge in the use of home delivery/dispatch riding services by businesses. Payments were made online and products were delivered to clients and customers offline. The new model of transportation of products from suppliers to end-users disrupted the conventional model of product pickups at shops and business premises which kept the economy afloat. With new delivery services companies springing up daily, new jobs are being created and services are being rendered.
Contrary to conservative opinions, the shift towards incorporating FinTech into business structures is anything but bad for the established banks, especially during a financial crisis. With the integration of FinTech, the financial services provided by banking enterprises, such as monetary transactions and insurance investments, will be further enhanced in terms of speed and accessibility to cater to the needs of customers. This in turn will allow enterprises gain customers’ trust and revenue growth, even during the economic crisis. As such, the emerging FinTech market has become more relevant during the post-covid-19 economy for its ability to re-engineer the business structure of financial institutions to remain competitive when crisis strikes.
If we are asked to imagine a world without fintech solutions, certainly we will all agree that it will be a difficult world to live in as fintech apps help us send and receive money, save money, borrow money, lend money, and invest money. The economic system of the world is evolving and the possibilities of Fintech solutions in business are endless.
It is left to us to only explore!
A Home for Heritage: ILÉ IYÁN Opens Headquarters to Celebrate Nigerian Roots
ILÉ IYÁN, a proudly Nigerian culinary brand, has officially unveiled its state of the art headquarters with a 200 guest capacity facility. The grand opening ceremony not only marked a milestone in the company’s growth but also paid tribute to Nigeria’s rich cultural heritage, drawing attention to the role of indigenous cuisine and tradition in promoting tourism across Lagos State.
The historic launch of the ILÉ IYÁN Headquarters held on Sunday the 11th May, 2025, now officially recognized as a national monument, took place in grand style, marking a significant milestone in the celebration and preservation of Nigerian cultural heritage and a major boost to the tourism industry.
The atmosphere was electric as the official opening ceremony of Ile Iyan’s new edifice commenced with a symbolic ribbon-cutting by the proud parents of the CEO, Alhaji and Alhaja Sanni. The emotional moment was met with cheers and applause from attendees, marking a significant milestone in the brand’s journey.
In a heartfelt speech, the CEO’s mother Alhaja Sanni shared her immense joy and pride in her son’s achievements. “I never imagined this day would come so soon. He defied all odds and has made us proud,” she said, her voice filled with emotion.
Celebrating Nigeria’s cultural richness, the event featured vibrant performances by Yoruba, Igbo, and Hausa cultural troupes. Dressed in colourful traditional attire, the troupes dazzled the audience with electrifying dances that underscored the Ile Iyan brand’s commitment to promoting indigenous cuisine and cultural values.
The event was graced by notable dignitaries, including Lagos State Commissioner for Agriculture, Hon. Abisola Olusanya; Commissioner for Youth and Social Development, Hon. Mobolaji Ogunlende; Special Adviser to Governor Sanwo-Olu on Culture and Tourism, Mr. Idris Aregbe; SSA on New Media, Mr. Jubril Gawat; Hon. Remi Durojaiye; Engr. Bola Babarinde; Prince Olu Kosoko of Badagry, Guiness World Record Holder, Dr Fola David; Mr Chigozie Okwara, Vice President of Culinary Arts Practitioners of Nigeria,Chef Dee; Culinary expert and Hospitality Consultant, Chef Gibbs; CEO of Novarick Homes and Properties Limited Mr Noah Ibrahim; Barrister Lateef Oyefeso, Barrister Gbolahan Oluyemi, Alhaji Mohammed Luqman, Alhaji Mojeed Animashaun, Alhaji Qudus Animashaun, Mr Emmanuel Akinseloyin, Alhaja Onigbanjo, Captain Dare, Alhaji Luqman Obileye, Mr Fola Gbemisola(Fatgbems), Mr Taiwo Kafidipe, Mr Ihuoma Raymond, the iconic music executive and cultural ambassador, Otunba Dayo Adeneye (D1) of Kennis Music, alongside Dr. Agarawu, numerous captains of industry, and cultural enthusiasts.
ILÉ IYÁN, long revered for its authentic celebration of Yoruba gastronomy particularly the traditional preparation of pounded yam has now been elevated to a symbol of national pride, serving as a cultural hub that connects history, heritage, food, and tourism. With its headquarters now officially open, ILÉ IYÁN is positioned as a dynamic force in reviving indigenous food practices, promoting cultural tourism, and offering immersive experiences rooted in Nigerian traditions.
In her keynote address, Mrs. Bisola Olusanya praised the initiative, stating: “ILÉ IYÁN is not just a space for food, it is a celebration of our roots, our resilience, and our creativity as Nigerians. This headquarters will play a vital role in our agricultural value chain while preserving culinary heritage for future generations.”
Hon. Mobolaji Ogunlende emphasized the importance of youth engagement in cultural sustainability, while Hon. Idris Aregbe lauded ILÉ IYÁN as a “trailblazer in cultural entrepreneurship,” bridging the gap between tradition and innovation.
Mr. Sanni Afeez, General Manager of ILÉ IYÁN, Shares His Thoughts on the Launch
Speaking at the launch, the General Manager, Mr. Sanni Afeez, expressed his excitement and optimism about the future of the brand.
“This launch represents more than just a new building, it’s a bold step toward redefining the culinary and cultural experience in Nigeria,” he said. “ILÉ IYÁN is not just a restaurant; it’s a celebration of who we are as a people. From our locally inspired menu to the cultural performances that marked today’s opening, we are showcasing the beauty, depth, and unity of Nigerian heritage. This headquarters will serve as a hub for not only great food but also for cultural exchange and tourism growth in Lagos.”
Founder, CEO, and cultural curator of ILÉ IYÁN, Mr. Sanni Sheriff, shared a powerful message during the launch event, emphasizing the deeper vision behind the brand.
“This is not just a building; it is a movement,” he declared. “A space where the stories of our people, our food, and our shared heritage are honored and preserved.”
Mr Sanni Sheriff, known for his passion for cultural preservation and storytelling through cuisine, reiterated his commitment to creating a space that celebrates Nigeria’s diverse identity, promotes local tourism, and empowers future generations to take pride in their roots.
With this launch, ILÉ IYÁN cements its place as a cornerstone of Nigeria’s cultural renaissance and a must-visit destination for locals and tourists alike.
EKAABO SI ILÉ IYÁN
EYIN OLOLUFE WA
For ILÉ IYÁN dining experience and food delivery kindly visit or contact any of our locations
ILÉ IYÁN HEADQUARTERS
4A WOLE OLATEJU CRESCENT OFF ADMIRALTY WAY LEKKI PHASE 1
(OPPOSITE KINGFISHER/MARCOPOLO RESTAURANT)
ILÉ IYÁN ANNEX
PLOT 6 DR. MUIZ BANIRE STREET OFF BISOLA DUROSINMI ETTI DRIVE LEKKI PHASE 1
ONLINE FOOD DELIVERY KINDLY CONTACT: 09024475402
FOR RESERVATIONS KINDLY CONTACT 09075603234 or simply send an
Email: ileiyan234@gmail.com
Our social media channels are
Instagram: @ileiyan_ng
Facebook : ILÉ IYÁN NG
Twitter: @ileiyan_ng
Business
Folake Ani-Mumuney: A Visionary Leader and Inspiration to Many Celebrates Her Birthday In Grand Style … A Testament to Unwavering Excellence
Folake Ani-Mumuney: A Visionary Leader and Inspiration to Many Celebrates Her Birthday In Grand Style
… A Testament to Unwavering Excellence
~By Oluwaseun Fabiyi
Folake Ani-Mumuney, you never know, she served as the Head of Marketing, Corporate and Communications at First Bank of Nigeria and remained central to the Bank’s brand for decades.It’s not surprising that a significant number of Nigerians were unaware of her value in brand, marketing, and corporate communications, since she is an outstanding trailblazer and media guru.
Describing her as a brand in her own right would be a significant understatement, as she personifies prudence and consonance in supporting individuals’ aspirations, particularly during her time at First Bank of Nigeria, where she consistently delivered exceptional results, adding positive value to all media partnerships without blemish, and her legacy remains exceptional and unblemished to this day.
It is a pleasure to celebrate Mrs Folake Ani-Mumuney’s special birthday with her family.Ma, as we commemorate this momentous occasion, we acknowledge the profound influence your life has had on those around you. May you be grateful for the love, support, and blessings you’ve received, and may you continue to be a source of inspiration and joy to all who know you..
It is a pleasure to join your family, friends and well-wishers in celebrating this momentous occasion, and I wish you a birthday filled with affection, merriment and every delight.
On this special day, as you celebrate another year of life, may the Almighty continue to shower His blessings upon your new age, granting you increased success, grace, favor, mercies, and enduring blessings, and from this day forward, all reports and testimonies concerning you and your household shall be extraordinarily positive.
Your exceptional attributes have secured a prestigious position for you among your peers in the realm of Brand and Marketing Communications, and I encourage you to uphold this exemplary standard, ma’am. I wholeheartedly pray that God will continue to bestow His blessings upon you and be gracious and kind to you now and forever. I wish you many happy returns, ma’am. Igba odun, odun kan ni o.
Oluwaseun Fabiyi a seasoned journalist based in Lagos
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