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Paystack $200 Million Acquisition



Are You Wondering who Paystack is or the $200 million acquisition from Stripe?

Are You Wondering who Paystack is and about the $200 million acquisition?

Paystack is a payment company that aids traders in Africa to accept payments from their customers all over the world.

It was founded in 2015 by Shola Akinlade and Ezra Olubi.

Shola Akinlade was born in Lagos, Nigeria, and attended St. Gregory College for his secondary education.

He then proceeded to Babcock University where he got his degree in Computer science in 2007 and then founded Paystack 8 years later.

They recently got acquired by Stripe for $200 million.

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Stripe is an American financial service and software as a service company. It is Silicon valley’s most valuable private company valued at $36B.

Stripe acquired Paystack as a bid to move into the African market, as it doubles down on geographic expansion.

Paystack has around 60,000 customers which encapsulate large corporations, fintech, educational institutions, and online betting companies, and various other businesses spread across Nigeria and Ghana.

The terms surrounding the acquisition have not been revealed but sources confirm it to be over $200 million.

Similar Nigerian companies in the that have been acquired by international firms are Yarnable,,  Jobberman, Interswitch and varous others.

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Nigeria’s External Reserves Records Decline to $35.67bn



Nigeria’s External Reserves Records Decline to $35.67bn


Nigeria’s external reserves, last week, fell for the fourth consecutive week to $35.67 billion even as the Naira depreciated to N462 per dollar in the parallel market.

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According to the central bank of Nigeria, foreign reserves are assets held on reserve by a monetary authority in foreign currencies. These reserves are used to back up liabilities and influence monetary policies. They include foreign banknotes, deposits, bonds, treasury bills, and other government securities.

Data from the central bank of Nigeria shows that the reserves fell to $35.672 billion on Thursday last week from $35.725 billion the previous week.

This translated to week-on-week decline of $53 million dollars, more than 100 percent increase from the $23 million w/w decline recorded in the previous week.

According to the CBN data the reserves have been on the downward trend for four weeks since September 17th. It fell by $139 million to $35.672 billion last week Thursday from $35.811 billion on Thursday September 17th.

Prior to the four weeks decline, the reserves rose steadily for two weeks, by $145 million to $35.811 billion on September 17th from $35.666 billion on September 2nd.

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Naija News

Lagos-Ibadan Railway, Buhari to Commission January 2021



Buhari to Commission Lagos-Ibadan Railway January 2021


The Minister of Transportation, Rotimi Amaechi, has announced that President Muhammadu Buhari will commission the Lagos-Ibadan railway in January 2021 to improve movement for cargoes and passengers in the country.

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Amaechi made the disclosure during an oversight visit from Lagos to Ibadan while inspecting the ongoing construction of the standard gauge in Ibadan.

The Minister said that the contractors had done their best with the project while attributing weather conditions as one of the challenges being faced by the contractors.

The Minister tasked the contractors on the Lagos-Ibadan railway line to ensure completion of all the stations by December including the Apapa station which started late, so it can be commissioned and the route made fully operational.

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Thugs, Allegedly Breaks Into Benin Prison



Thugs, Allegedly Breaks Into Benin Prison

Alleged thugs on Monday,19 October 2020 broke into the Benin Prison commonly called White House, and released numerous convicts in one of the prison cells.

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The armed squad of the prison officials engaged the suspected thugs in gunfire which resulted in some people getting injured.

The thugs started gathering along Sapele Road beside the prison as early as 7 am setting bonfires and sending back road users.

They began their attack when their number increased, broke a section of the wall while others climbed the fence into the prison yard.

The Government of Edo State has imposed a 24-hour curfew across the state until further notice.

The Curfew is as a result of the occurrence of destruction and attacks on individuals and by these thugs disguising as EndSars protesters. The curfew is to begin from 4 pm, October 19, 2020.

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infectious diseases in your community. It is very important to wash your hand frequently with soap under running water.


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#COVID19NIGERIA Situation Report

The #COVID19Nigeria situation report for 21st July, 2020 has been published. Our daily reports provide a summary of the epidemiological situation & response activities in Nigeria

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@Africa CDC

The African Union and Africa CDC will virtually rollout the Partnership to Accelerate COVID-19 Testing (PACT) in Africa tomorrow 4 June, 2020 at 11.00 am Eastern Africa Time.

The African Union and Africa CDC will virtually rollout the Partnership to Accelerate COVID-19 Testing (PACT) in Africa tomorrow 4 June, 2020 at 11.00 am Eastern Africa Time.


Gallant Officer
"Also found worthy of honour was Bashir Abubakar, an Asst Comptroller-General of Customs, who rejected a bribe of $412,000 per container offered him by drug traffickers seeking to bring 40 containers of Tramadol into Nigeria. A fine example of incorruptibility, worthy of emulation"

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