Agnes Isoje

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In a rapidly growing tech ecosystem, Nigerian startups are hailed for their innovation, ambition, and transformative potential, but with great growth often comes scandals.

Nigeria’s startup ecosystem may be booming, but it hasn’t been without turbulence. A number of high-profile scandals have tested the industry’s integrity and spotlighted serious governance weaknesses. These four incidents shook the scene the most.

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<h2>4 Startup Scandals That Shook the Nigerian Tech Scene</h2>

<h3>1. Ezra &amp; Paystack: Resurfaced Tweets and Misconduct Allegations</h3>

One of the most recent and explosive controversies involves Ezra Olubi, co-founder and former CTO of Paystack. In November 2025, Paystack suspended him following sexual misconduct allegations involving a subordinate, triggering a formal internal investigation.

The scandal went deeper than the immediate allegation as archived tweets from Olubi between 2009 and 2013 resurfaced, containing highly explicit content, including references to minors, sexualized anime characters, and disturbing workplace commentary.

A former partner, Max “Maki” Obae, also came forward via an X Space session, accusing Olubi of misogyny, manipulation, and leveraging his power and wealth in an exploitative way. She alleged a toxic dynamic, including how he uses money and influence to control and demean.

<a target="_blank" class="editor-link" href="https://www.pulse.ng/articles/news/trending/paystack-suspends-ezra-olubi-2025111320463914539">Paystack suspended Olubi pending the outcome</a> of a “fair, transparent, and structured” review process. They publicly stated it would not comment further until the investigation was complete, citing respect for all parties.

<h3>2. Flutterwave: Security Breaches &amp; Cyber-Intrusion Concerns</h3>

Flutterwave, one of Nigeria’s flagship fintech firms, has faced its own share of controversy. In May 2024, the company disclosed that<a target="_blank" class="editor-link" href="https://nairametrics.com/2024/05/16/flutterwave-blocks-security-breach-on-platform-says-custom"> it had blocked a “security breach” on its platform</a>, involving a network intrusion. While Flutterwave assured customers that no funds were lost, reports suggested insiders believed as much as ₦11 billion may have been at risk.

This wasn’t the first time Flutterwave had to defend itself publicly. In 2023, <a target="_blank" class="editor-link" href="https://businesspost.ng/banking/flutterwave-assures-customers-safety-of-funds-denies-n2-9bn-hack">it denied a widely reported ₦2.9 billion hack</a>, clarifying that unusual transaction activity was flagged by its system and internal checks, rather than a successful breach.

For a payments company, trust and security are paramount, and even attempted attacks can erode user confidence. It exposed how fintechs must constantly balance rapid growth with strong cybersecurity.

After that episode, Flutterwave alerted law enforcement and handed over details (like IP addresses) of the suspected intruders to security agencies. They also began improving their security infrastructure and migrated affected users to more secure platforms to prevent future risks.

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<h3>3. Patricia (Crypto Startup): Hack, Withdrawal Freeze, and Debt Conversion</h3>

Patricia Technologies, a Nigerian crypto company, also found itself in the crosshairs after a series of operational crises. According to reports, <a target="_blank" class="editor-link" href="https://techpoint.africa/insight/patricia-customer-fund-crisis">the platform lost around $2 million to a hack</a>. Beyond the hack, customers claimed they were unable to withdraw funds for months, sparking outrage and panic.

To appease users, Patricia proposed <a target="_blank" class="editor-link" href="https://techpoint.africa/news/patricia-begs-customer-to-turn-owed-funds-to-company-shares">converting customer balances into company shares</a>, effectively asking affected users to accept equity instead of cash. This decision was controversial and raised real concerns about liquidity, trust, and how crypto startups manage user funds.

The incident highlighted how centralized exchanges in Nigeria may be vulnerable to security risks. Patricia reportedly started paying back some customers and engaged publicly to calm its user base, but the hack and withdrawal freeze still left a dent in its reputation.

<h3>4. Binance vs Nigeria: Legal Clash Over Taxes &amp; Economic Impact</h3>

Perhaps the most headline-grabbing scandal involved Binance, the global cryptocurrency exchange, and the Nigerian government. In early 2025, Nigeria’s Federal Inland Revenue Service (FIRS) <a target="_blank" class="editor-link" href="https://nairametrics.com/2025/02/19/fg-seeks-court-order-for-binance-to-pay-nigeria-79-billion-economic-loss-fine-2-billion-tax">sued Binance for $2 billion in unpaid income tax</a> and an additional $79.5 billion for alleged economic damage linked to Binance’s operations in Nigeria.

The key allegations include:<ul><li>Binance failed to register properly for tax in Nigeria. </li><li>It may have contributed to foreign exchange (naira) instability through its P2P trading volumes. </li><li>The FIRS claims Binance’s economic presence in Nigeria is “significant,” making the company liable under Nigeria’s tax code.</li></ul>

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The legal battle has been dramatic. Two Binance executives, Tigran Gambaryan and Nadeem Anjarwalla, were detained in Nigeria in 2024. A court initially approved “substituted service” (i.e., serving legal documents via email) because Binance doesn’t have a physical office in Nigeria.

Nigeria’s court later admitted FIRS documents linked to Binance’s financial transactions as evidence. The case was adjourned multiple times, once to April 30, 2025, while Binance challenged some of the court’s procedural decisions.

Binance has denied the claims, defending its business model and contesting some procedural aspects of the lawsuit. The legal battle is still playing out; meanwhile, the Nigerian government, represented by FIRS, is pushing hard for massive financial accountability.

The Nigerian tech ecosystem is still youthful, and for all its promise, it is not immune to scandal. For founders, investors, and regulators, building a resilient, credible, and sustainable tech industry in Nigeria requires not just innovation, but integrity, foresight, and a commitment to protecting the ecosystem’s most valuable asset, its reputation.

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4 Startup Scandals That Shook the Nigerian Tech Scene

This article explores four major Nigerian tech scandals—Ezra, Flutterwave, Patricia, and Binance—that shook the ecosystem and exposed gaps in governance, security, and trust.

Rukayat Badmus

Every November, the tech industry performs a kind of ritual: new chips, new phones, new “smart” everything, each one a signal flare for the year ahead. We are looking at a powerful surge of new technology releases, from phones with seemingly everlasting <a target="_blank" class="editor-link" href="https://www.pulse.ng/articles/pulse-picks/which-laptops-have-the-best-battery-life-in-2025-2025041511535337886">battery life</a> to software that makes your current phone feel brand new.

For everyone keeping an eye on the Nigerian gadget market, this list is your essential guide. You’ll find out not only about the coolest items arriving but, most importantly, when you can expect them.

Let’s take a look at the major tech product launches coming this month.

<h2 style="text-align: start">1. New Phones: Massive Power and Endurance</h2>

This month belongs to the flagship phones designed for sheer power, high-quality media, and, crucially for Nigerian consumers, exceptional <a target="_blank" class="editor-link" href="https://www.pulse.ng/articles/pulse-picks/which-laptops-have-the-best-battery-life-in-2025-2025041511535337886">battery life</a>. The competition in the <a target="_blank" class="editor-link" href="https://www.pulse.ng/articles/pulse-picks/oneplus-13-review-2025050814363010520">Android phone</a> market is intense, and we are seeing some thrilling features.

<h3 style="text-align: start">A. OnePlus 15: The New Speed Champion</h3>

OnePlus is renowned for crafting quick and responsive smartphones, and the OnePlus 15 launch aims to take that to an even higher level.

<ul><li>What OnePlus offers: It packs the newest Snapdragon 8 Elite Gen 5 chipset, ensuring performance that is truly superb for high-demand applications, complex games, and heavy multitasking. But the real headline feature for us is its immense 7,300mAh battery, one of the largest ever placed in a flagship phone. Say farewell to constant charging anxiety!</li><li>Expected Global Launch: Although this device has been launched in China and India, it is expected to be available in other countries by November 13, 2025.</li></ul>

Here’s Every Major Tech Launch Happening in November 2025

<h3 style="text-align: start">B. Realme GT 8 Pro &amp; iQOO 15: Dual Powerhouses</h3>

We are seeing a trend of phones combining top-level processors with dedicated chips to handle specific tasks, such as gaming and photography.

<ul><li>Realme GT 8 Pro: This is the phone for photography enthusiasts and dedicated mobile gamers. It is reported to feature a dual-chip design, which means its performance will be exceptionally stable, even during extended gaming sessions.</li><li>Expected Global Launch: Mid-November 2025 (around the 20th).</li></ul>

iQOO 15: This phone, launching slightly later, is another Snapdragon 8 Elite Gen 5 device, specifically tailored for its speed and display quality, making it a powerful contender for the title of the <a target="_blank" class="editor-link" href="https://www.pulse.ng/articles/pulse-picks/best-gaming-phones-2025012223010127196">best gaming smartphone</a> yet.

Expected Global Launch: November 26, 2025.

<h2 style="text-align: start">2. Software Upgrades: Making Your Current Gadgets Stronger</h2>

Sometimes, the most exciting new thing is a free update for the device you already possess. Google is delivering a remarkable collection of AI innovations this month.

<h3 style="text-align: start">A. Google’s Pixel Feature Drop: AI for Everyone&nbsp;</h3>

For owners of <a target="_blank" class="editor-link" href="https://www.pulse.ng/articles/pulse-picks/tech/google-pixel-phones-worth-buying-2025030501322102748">Google Pixel phones</a> (like the Pixel 10 series), watches, and earbuds, Google is rolling out its monthly Pixel Feature Drop, a software update filled with free new features.

<ul><li>What it offers:</li><li>New Look, Easy Customisation: Introducing Pixel Theme Packs, allowing you to instantly change the entire look of your phone (icons, colours, system sounds) with one simple tap. It brings a profound level of customisation.</li><li>Smarter Watch, Smarter You: The Gemini AI features are expanding fully onto the Pixel Watch 4, allowing the smartwatch to handle more complex tasks and proactive requests right from your wrist.</li><li>Prioritised Messages: A new feature that highlights messages from your most important contacts (VIPs) so you never miss a vital alert in the notification clutter.</li><li>Expected Rollout Date: The update is scheduled to begin arriving on eligible Pixel phones around November 4, 2025.</li></ul>

<h3 style="text-align: start">B. Apple’s Smart Home Refinements&nbsp;</h3>

Apple is preparing for the holiday season by improving its supporting devices, making them faster and more intelligent.

<ul><li>Apple TV (New Version): We anticipate a modest refresh to the set-top streaming device, focusing on quicker processing and better efficiency for a smoother experience when watching movies or streaming sports in 4K.</li><li>HomePod mini: Look out for subtle audio improvements and deeper integration with Apple's own AI technology, making the smart speaker a more effective home assistant.</li><li>Expected Display Refresh: Reports suggest Apple retail employees are preparing for store changes around November 12, hinting at the start of sales for these refreshed home products shortly after.</li></ul>

<h2 style="text-align: start">3. Gaming and The Future: Big Titles and New Tech&nbsp;</h2>

November is a terrific month for gamers, and we are also getting a glimpse of truly futuristic technology that will soon change our lives.

<h3 style="text-align: start">A. Highly Anticipated Video Game Releases</h3>

Get your controllers ready, as some of the most anticipated titles for the PS5, Xbox Series X/S, and Nintendo Switch 2 drop this month:

<ul><li>Football Manager 26: The new edition of the management simulation arrives on November 4. A must-have for every tactical football fan.</li><li>Hyrule Warriors: Age of Imprisonment: A powerful adventure title for the Nintendo Switch 2, launching on November 6.</li><li>Call of Duty: Black Ops 7: The latest instalment in the internationally celebrated shooter series arrives on November 14, a definite focal point for the Nigerian gaming community.</li></ul>

<h3 style="text-align: start">B. The First True AI Glasses?</h3>

The launch of the Lenovo AI Glasses V1 (expected around November 9–18) is fascinating. This device is a sign of where personal computing is headed. These exceptionally light smart glasses focus on practical applications, such as instant, live language translation —a feature that holds considerable promise for international business and travel.

<h2 style="text-align: start">The Money Talk: What to Expect on Nigerian Shelves</h2>

We must always address the economics. While global launches are exciting, the price of new gadgets in Nigeria is often the deciding factor, impacted significantly by exchange rates and import costs.

When these new flagship phones and other high-end consumer electronics arrive through official channels, expect the prices to be steep. The prices for top-tier devices like the OnePlus 15 and Realme GT 8 Pro will likely be in the ₦1,000,000 to ₦1,300,000 range initially.

November 2025 is truly an exciting time for tech in Nigeria. It’s a month packed with devices that are not just quicker, but genuinely smarter, thanks to deep AI integration.

For everyone keeping an eye on the Nigerian gadget market, this list is your essential guide.

Pulse Mix

<h2>The 2024 Inspire Africa Conference has just concluded at the prestigious Eko Convention Centre in Lagos.</h2>

The highly anticipated Conference took place 15th - 18th October 2024. Tagged the continent's largest tech product event, this year’s theme “Product Is Hard,” reflected the challenges of building and leading in complex environments, especially within Africa’s fast-evolving tech landscape.

The Conference brought together almost 1,000 attendees from across the continent, including 100+ African tech founders and product leaders and 30+ global speakers and coaches for four days of immersive learning, hands-on training, and networking.

The focus centered on how African companies can optimise product teams, hire top talent, and harness new technologies like artificial intelligence to solve difficult problems and drive business success.

&nbsp;“By 2030, Africa is projected to have the largest working population in the world. That’s a lot of people with the potential to work together towards a common goal driven by technological innovation,” says Christian Idiodi, founder of Innovate Africa Foundation, one of the organisations behind the Conference.

Christian Idiodi, Founder of Innovate Africa Foundation

“The key for us is providing them with the skills and capital they need to thrive in the global market and that is what the Inspire Africa Conference seeks to do.“

While presenting his Keynote Address, Founder and Group CEO of headline sponsor Interswitch Group, Mitchell Elegbe said; “Initiatives such as the Inspire Africa Conference are crucial in developing the technology value chain and upskilling our workforce.

"We prioritise partnerships and platforms that enable individuals and communities to prosper across Africa. He added; “As an African-oriented organisation, we are committed to driving Africa’s development and understand the power of nurturing African-led innovation by providing African talent with opportunities of this nature.”

The four day event was indeed a transformative experience for Africa’s tech product community offering a unique blend of learning, training, networking and inspiration.

The first day of the conference was dedicated to exploring the essence of product and the trends and key concepts in tech with keynotes and panel discussions centered on product leadership, talent, building ecosystems, driving innovation and access to funding.

A highlight of Day 1 was a Keynote by Ebi Atawodi, Director of Product Management at YouTube about how to build great products when collaborating.

Ebi Atawodi, Director of Product Management at YouTube

Other speakers included Gbenga Omotosho, Commissioner for Information and Strategy (Representative of the Governor, Lagos State) &amp; Victoria Fabunmi, Investment Lead, Office for Nigerian Digital Innovation.

A fireside chat with Kristin H. Wilson and Christian Idiodi from the recently launched Innovate Africa Fund was also part of the programme. The fund launched earlier this year with $2.5m and plans to support 20 startups in its first year.

The remaining 3 days focused on the teachings of the Silicon Valley Product Group, with masterclasses for product managers and leaders to hone in on the concepts that have enabled the best tech-powered product companies.

Taking the lead here was ‘The Godfather of Product’, SVPG Partner Marty Cagan, alongside Christian Idiodi, Chidi Afulezi and Gabrielle Bufrem. In addition, Day 4 provided founders and entrepreneurs the opportunity to gain strategic insights, participate in practical problem-solving sessions, and benefit from invaluable networking experiences.

Next year is set to be even bigger, with the conference heading to Kigali, Rwanda for the first time on 13th - 16th October 2025.

The Inspire Africa Conference brings together local and international product and training leaders to drive impact in the African product community. It&nbsp;is organised by a few amazing companies (Silicon Valley Product Group, Product Leadership Accelerator, Innovate Africa Foundation, Innovate Africa Fund &amp; Work Nigeria); all working to upskill African product experts. The event continues to be the only one of its kind on the African continent with robust product training opportunities and offers.

Visit <a href="http://inspireafricaconference.com">inspireafricaconference.com</a> for more details about the conference.

For more details of the companies behind the conference

visit: <a href="https://svpg.com/">svpg.com</a>&nbsp;

<a href="https://innovateafricafoundation.org/">innovateafricafoundation.org</a>

<a href="https://innovateafricafund.com/">innovateafricafund.com</a> <a href="https://worknigeria.com/">worknigeria.com</a>

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Inspire Africa Conference 2024: Empowering Africa’s tech product leaders

The Conference brought together almost 1,000 attendees from across the continent, including 100+ African tech founders, and product leaders.

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