When a startup fails, we write post-mortems

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Official News From Last Week

1. A Nigerian court has frozen multiple bank accounts after a Keystone Bank system glitch artificially inflated account balances, allowing unauthorized withdrawals totaling ₦5.7 billion.

2. Sendstack, a Nigerian logistics company, is seeing changes in its leadership. Co-founder Ifeoma Nwobu has left her role as Chief Operating Officer. This comes as the company pivots for the second time in just five months.

3. Nigerian edtech startup Edukoya has shut down, citing lack of market readiness, pervasive internet connectivity issues, and limited student access to digital devices as major challenges.

4. Flutterwave has acquired a Payment System licence from the Bank of Zambia, expanding its operations into the country.

5. Access Bank completed its system's upgrade on February 23, aimed to enhance its digital services. However, despite assurances of minimal disruptions, some customers reported frustrating glitches, including failed transactions and inability to access the bank's app.

6. MTN Nigeria has recovered ₦32 billion from Nigerian banks as part of the ₦74 billion outstanding debt owed to the telecom operator for Unstructured Supplementary Service Data (USSD) service charges.

Remote Job Openings

1. M-KOPA is looking to hire a Senior Analytics Engineer

2. Venmac Limited is looking to hire a Human Resource Officer

3. Infinition Technologies is looking to hire a Back End Developer

4. Reliance health is looking to hire a Claims Operations Associate

5. RavenPay Limited is looking to hire a Retail Associate

As you know, this isn't your typical tech newsletter, so let's get into some of the most intriguing happenings on "tech Twitter" from the past week. To view the full content of this newsletter, please click View More at the bottom of the email.

1… Early last week, hackers stole $1.5 billion worth of crypto from Bybit. The Dubai-based crypto platform said an hacker gained control of a wallet of Ethereum and transferred the contents to an unknown address.

Well, Hanu of Patricia seized the opportunity to urge Nigerian founders to be collaborative in building a thriving startup ecosystem.

1/3

2/3

3/3

This didn’t sit well with many people

Hanu might have opened an unhealed wound

2.. Did you by chance receive divine funds caused by a glitch?

To the tea… 1/2

2/2 To receive unmerited credit alert is human, to get your account blocked is to the courts

Eii Bad day for IT guys

Chief observers

3.. I thought we used to say “Age is nothing but a number”

Everything is mindset

Comparison is the stealer of what?

4… Sadly, Nigerian EdTech, Edukoya shut down.

Our present reality may be far worse than we think

When a startup fails, we write epistles on what could have been

Best wishes to the founders

5… Shame wear me like Error 404

6… Ifeoma of Sendstack steps down as COO as the startup pivots for the second time in 5 months but Ifeoma was not pleased with how the news broke 1/2

2/2
The link to her article here

Many dissenting opinions

Business is business they say

7… This your next option ehnn

8… Things are happening

9…. Curious though…what batch of Gen Z are the outspoken ones?

9… A BAD barber (Barber with A Difference)

You just have to respect the grind

10… You know what, I’m switching jobs!

Same Oge, same

What was your highlight from last week?