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Business

How to Start a Passive Online Business in Nigeria That Pays You While You Sleep

  • dollaers
  • June 7, 2026
  • Business
  • 0 comments

If you have been looking for a realistic way to make money online in Nigeria, you have probably realized that most “passive income” ideas are either heavily saturated or completely unsuited for the local market.

Standard advice like starting a global drop-shipping store or trading volatile cryptocurrencies requires massive capital, deep technical skills, and constant monitoring.

The real secret to building a true “pay-while-you-sleep” online business is infrastructure ownership.

Instead of trying to sell individual products yourself, the smartest digital entrepreneurs in Nigeria are positioning themselves as the “digital landlords” of local commerce. By securing an exclusive city partnership with emerging infrastructure platforms, you can earn a passive percentage from everyday financial transactions happening in your locality.

Whether you are in Ikeja, Abuja, Portharcourt, Umuahia, Uyo, Awka, Ibadan, or Kano, here is an in-depth breakdown of how this model works, why it commands premium advertising rates, and how you can lock in your own automated income engine before the opportunity closes.

The Concept of a Digital Landlord Business Explained

To understand how an online business can pay you automatically while you sleep, think about how traditional estate agents or landlords make money.

They don’t do the physical work inside the shops or apartments; they simply own or manage the space and collect a recurring fee for providing the infrastructure.

A Digital City Partnership works exactly the same way, but with zero physical maintenance costs.

Every single day, thousands of service providers, traders, corporate freelancers, and local artisans across Nigeria are looking for secure ways to bill their clients.

They need a system where they can easily manage their product inventory, fix their sales listings, and send secure payment requests to customers over chat interfaces.

When you secure an exclusive territory on a platform like the 360, you become the official manager of that city’s digital marketplace network.

Every time a consumer hires a verified professional or buys from a business inside your designated city, a secure transaction occurs. The platform charges a small fee for processing that transaction, and a direct percentage of that fee drops into your partner dashboard as an automated, recurring commission—even if you are fast asleep when the transaction happens.

Inside the 4-Step Automated Revenue System

Setting up this passive online business does not require a complex programming background or thousands of dollars in software development. The operational engine relies on a straightforward, structured setup:

1.Create Your Partner Profile: Setup takes less than 5 minutes.

Go to the official 360 Partner page and register your account. You instantly gain access to a real-time partner dashboard designed to track user metrics and incoming transaction volumes.

2.Claim Your Exclusive City: Available territories are strictly finite.

Review the live grid of available geographical zones. Because the system allocates only one partner per city to prevent internal competition, you must lock down an active commercial center before someone else claims it.

3.Onboard the Local Network: Using automated digital ad funnels.

Instead of physical marketing, use geo-targeted social media campaigns to direct local service providers, traders, and artisans to register their business profiles within your city. We handle this through Ads that your pay for.

4.Collect Automated Commissions: True pay-while-you-sleep passive execution.

As your onboarded users use the chat payment system to process client orders, the platform’s escrow logic automatically extracts your partnership percentage and routes it to your wallet.

 

Analyzing the Earning Potential: Can You Really Make ₦250k – ₦500k Monthly?

When building a passive online business in Nigeria, you must look at realistic, volume-based data. On the 360 Partnership portal, recent activity shows that an optimized city territory can realistically yield between ₦250,000.00 and ₦500,000.00 per month in recurring payouts.

To understand how this math works in real life, let’s look at a typical mid-tier urban city setup:

Metric Element Conservative Estimation
Average Local Service Ticket ₦20,000 (e.g., laptop repairs, corporate design, solar setups)
Active Daily City Transactions 75 successful completed jobs across the zone
Daily Transaction Volume ₦1,500,000 processed securely through the platform
Monthly Accumulation Over ₦45,000,000 in local economic movement

Because you earn a steady recurring commission on every single transaction, your wallet receives constant fractional payouts.

As more artisans and vendors move their billing into the chat system to manage their sales safely, your passive volume increases without requiring extra hours of your personal time.

Act Fast: Massive Nigerian Cities Are Already “Taken”

The biggest risk with an infrastructure-based passive business model is delay. Because the platform guarantees strict territorial exclusivity, once a major commercial center is claimed by an investor, the window for that city closes permanently.

A look at the current city availability registry shows that major high-density financial hubs are already completely off the market:

  • ❌ Lagos (Ikeja) – TAKEN

  • ❌ Abuja (FCT) – TAKEN

  • ❌ Rivers (Portharcourt) – TAKEN

However, this creates an incredible first-mover advantage in rapidly urbanizing states and regional trade capitals across Nigeria. High-yield cities with massive economic activity are still marked as Available, waiting for savvy digital managers to claim them:

  • South-East & South-South Hubs: Port Harcourt (Rivers), Umuahia (Abia), Uyo (Akwa Ibom), Awka (Anambra), Asaba (Delta), and Owerri (Imo).

  • South-West Commercial Centers: Ibadan (Oyo), Abeokuta (Ogun), Akure (Ondo), and Oshogbo (Osun).

  • North-Central & Northern Markets: Kaduna, Kano, Jos (Plateau), Ilorin (Kwara), and Makurdi (Benue).

Claiming a city like Port Harcourt, Ibadan, or Kano allows you to capture a massive market of independent professionals who are completely overlooked by traditional Lagos-focused tech startups.

Solving the “Trust Problem” via Escrow-Backed Payments

The reason this specific business model generates such high transaction velocity is because it natively solves the biggest problem plaguing Nigerian e-commerce: The lack of trust.

Consumers are terrified of paying upfront only for a service provider to disappear or deliver terrible work. On the flip side, mechanics, tailors, and freelancers are terrified of doing a job only for the client to refuse payment at the end.

The 360 system neutralizes this anxiety completely with an automated Escrow Security Layer:

[Buyer Pays for Service] ──> [Funds Locked Safely in Escrow] ──> [Vendor Completes the Work] ──> [Funds Automatically Released + Partner Fee Paid]

When a buyer initiates a job request, the funds are instantly locked in a secure escrow vault. The service provider can see the verified payment confirmation inside their mobile chat interface, giving them total confidence to perform the job perfectly. Once the work is completed and approved, the system releases the money to the vendor while simultaneously dropping your partner commission directly into your dashboard.

By making transactions 100% fraud-proof, the platform turns casual users into permanent, long-term clients. For you, the digital landlord, this means your automated transaction volume remains highly resilient month after month.

How to Scale Your Passive Income From Anywhere in Nigeria

To push your city partnership past the ₦250,000 mark and hit the upper limits of the ₦500,000 monthly estimate, you should target high-value, highly active professional clusters using digital tools:

1. Focus on the High-Frequency Clusters

Map out your local targeting into three main groups that handle continuous financial billing:

  • The Tech & Corporate Cluster: Web developers, copywriters, graphic designers, and virtual assistants who bill for services constantly online.

  • The Skilled Blue-Collar Cluster: Highly paid auto-mechanics, aluminum fabricators, electricians, and interior decorators who rely heavily on trust and need a verified online portfolio.

  • The Lifestyle & Health Cluster: Private home tutors, fitness coaches, and beauty professionals who charge clients on a recurring basis.

2. Run Targeted, Geo-Fenced Social Media Ads

You do not need to walk around physical markets onboarding people manually. Run hyper-localized Facebook or Instagram ads targeted specifically to your claimed city (e.g., targeting business owners in Uyo or Ibadan). Direct them to your landing page showing how they can use the platform’s mobile interface to easily manage product catalogs, showcase portfolios, and protect their revenue with secure escrow links.

3. Let the Network Effect Work for You

Multi-sided digital platforms are naturally viral. Once the top 30 or 40 artisans in your city realize that clients trust them more when using escrow-backed payments, they will actively invite their own regular customer bases onto the platform. Every external customer they onboard becomes an active user within your exclusive territory, generating hands-free commissions for you while you focus on other projects.

Lock in Your Passive Income Stream Today

The transformation of Nigerian local commerce from unverified, risky transactions to secure, digital infrastructure is completely inevitable. The entrepreneurs who profit the most will always be those who secure their positions before the market stabilizes.

Instead of chasing fleeting online trends that require your constant attention and continuous labor, entering into a city partnership allows you to build a genuine, self-sustaining digital asset.

Don’t wait until your location switches from “Available” to “Taken.” Check your regional market, secure your exclusive territory, and build an online asset that works for you 24 hours a day, 7 days a week.

Ready to claim your exclusive territory? Go to the official 360 Partnership Dashboard, verify your city’s current live availability, and create your partner account today to secure your automated income stream.

EFCC Witness Alleges Ngige Awarded N80 Million NSITF Contract Outside Bidding

  • dollaers
  • January 29, 2026
  • Business, EFCC
  • 0 comments

A prosecution witness in the ongoing trial of former Anambra State governor and ex-Minister of Labour, Dr Chris Ngige, has told a Federal Capital Territory High Court in Gwarimpa, Abuja, that an N80 million contract for the Nigeria Social Insurance Trust Fund (NSITF) Makurdi office was awarded to a company that did not participate in the bidding process.

The allegation was disclosed in a statement posted on Wednesday by the Economic and Financial Crimes Commission (EFCC) on its official X (formerly Twitter) account.

The witness, Mr Pedro Torwuese Chellen, an entrepreneur and project manager of Imanil Haq Nigeria Limited, told the court that his company had competed for the contract but later discovered that the winning firm allegedly did not submit a bid.

What EFCC is saying

According to the EFCC, Mr Chellen testified that the contract was awarded under the supervision of Dr Ngige during his tenure as Minister of Labour, who oversaw the NSITF.

After failing to get clarification from NSITF management, Mr Chellen said he escalated the matter to the Bureau of Public Procurement (BPP). The BPP, according to his testimony, confirmed that the company that eventually won the contract did not take part in the procurement process.

“The First Prosecution Witness, PW1 Mr Pedro Torwuese Chellen… said that the company that won the contract for renovation of Nigeria Social Insurance Trust Fund (NSITF), Makurdi office at the cost of N80 million did not take part in the contract bidding,” the EFCC statement said in part.

Mr Chellen also told the court that the contract description was later changed from “Renovation of Makurdi Office” to “Construction of Makurdi Office,” and that the contract sum was subsequently increased from N80 million to N120 million.

He said his statements were taken by the EFCC in 2023 as part of a broader investigation into alleged irregularities in NSITF procurement practices.

Petition and investigation

During cross-examination, the witness reportedly told the court that his petition was directed at the NSITF management board rather than specific individuals.

He also said he was not part of any board meetings but learned through media reports that the board was later reconstituted.

The court has adjourned the matter to January 29, 2026, for continuation of the trial.

Backstory

The EFCC arraigned Dr Ngige in December 2025 over multiple corruption-related allegations linked to his supervision of the NSITF while serving as Minister of Labour and Employment.

He is facing an eight-count charge marked FCT/HC/CR/726/2025, filed on December 9, 2025, by EFCC prosecutors led by Sylvanus Tahir, SAN.

The anti-graft agency alleges that between September 2015 and May 2023, Ngige gave undue advantage to companies linked to associates and approved contracts worth hundreds of millions of naira to firms including Cezimo Nigeria Limited, Zitacom Nigeria Limited, Jeff & Xris Limited, Olde English Consolidated Limited, and Shale Atlantic Intercontinental Services.

Ngige is also accused of receiving financial gifts from contractors while in office, including alleged transfers of N38.65 million, N55 million, and N26.13 million through entities linked to him.

The EFCC says the alleged actions violate Sections 17(a) and 19 of the Corrupt Practices and Other Related Offences Act 2000.

What you should know

The EFCC opposed Dr Ngige’s bail application after his arraignment, citing concerns over compliance with previous administrative bail conditions.

According to the commission, Ngige allegedly failed to meet certain bail requirements, including the return of his international passport after travelling abroad for medical reasons.

The trial is ongoing, and the allegations remain subject to judicial determination.

CBN Approves Temporary Use of Expired NAFDAC Licences for Imports Until February 28

  • dollaers
  • January 28, 2026
  • Business, Regulations
  • 0 comments

The Central Bank of Nigeria (CBN) has approved a temporary dispensation allowing importers to use expired National Agency for Food and Drug Administration and Control (NAFDAC) licences for import documentation, providing short-term relief to businesses affected by ongoing system transitions in Nigeria’s trade processing framework.

The approval was conveyed in a circular issued on January 26, 2026, by the CBN’s Trade and Exchange Department and published on the apex bank’s website on Tuesday. The circular authorises authorised dealer banks (ADBs) to continue processing Form M applications with NAFDAC licences that expired on December 31, 2025.

According to the CBN, the temporary window will run for two months and will lapse on February 28, 2026.

The circular was signed by the Director of the Trade and Exchange Department, Aliyu M. Ashiru.

What the circular says

In the circular, the CBN stated:
“The Central Bank of Nigeria wishes to notify all Authorised Dealer Banks (ADBs) and the general public of a temporary dispensation offered by the National Agency for Food and Drug Administration and Control (NAFDAC) permitting the continued use of NAFDAC licences that expired on 31st December, 2025, for the processing of Forms M for a two-month temporary dispensation ending February 28, 2026.”

The apex bank explained that the decision followed a temporary approval granted by NAFDAC itself, allowing the affected licences to remain valid strictly for Form M processing during the approved period.

The CBN emphasised that the dispensation applies only to import documentation and does not amount to a full extension or renewal of the licences beyond the stated purpose.

System transition behind the approval

According to the CBN, the temporary measure was necessitated by operational challenges linked to the transition away from the legacy Nigeria Integrated Customs Information System II (NICIS II) platform.

The bank noted that importers have faced difficulties validating or renewing NAFDAC licences following the migration, particularly due to technical and operational issues encountered on the new B’Odogwu platform after December 2025.

These challenges, the CBN said, have created bottlenecks in trade documentation processes, raising concerns about potential disruptions to imports, especially for regulated food, drug, and pharmaceutical products.

To mitigate delays and ensure continuity in trade transactions, the CBN directed authorised dealer banks to continue accepting expired NAFDAC licences for Form M processing within the two-month window.

The apex bank stressed that the approval is strictly time-bound and warned that it would lapse automatically on February 28, 2026, without further extension. It urged banks to comply fully with the terms of the dispensation to avoid regulatory breaches.

The CBN added that the measure is intended to provide breathing space while NAFDAC completes the integration of its systems with the National Single Window framework.

What you should know

Form M is a mandatory electronic import documentation platform in Nigeria used to capture detailed information on goods imported into the country. It serves as a critical tool for trade monitoring, foreign exchange utilisation, and customs clearance.

The platform is processed through authorised dealer banks and is linked to Nigeria Customs systems, making it central to import control, FX demand management, and trade data integrity.

Through Form M, regulators verify product compliance, applicable licences such as NAFDAC approvals, tariff classifications, and the legitimacy of import transactions before goods arrive in Nigeria.

Oversight of Form M falls under the Central Bank of Nigeria, which regulates access to foreign exchange for imports and sets operational guidelines for authorised dealer banks. Through its Form M policies, the CBN plays a direct role in managing Nigeria’s balance of payments, reducing trade-related FX leakages, and aligning import activities with national economic and regulatory priorities.

Court Orders Forfeiture of Orlean Invest Jet Over Unpaid N1.04 Billion Customs Duty

  • dollaers
  • January 28, 2026
  • Business, Court
  • 0 comments

The Federal High Court sitting in Abuja has ordered the final forfeiture of a Bombardier BD-700 Global 6000 private jet operated by Orlean Invest Africa Limited to the Federal Government of Nigeria over the non-payment of N1.04 billion in customs duty.

The judgment was delivered on Tuesday by Justice James Omotosho, following a suit instituted by the Nigeria Customs Service (NCS). The decision was reported by the News Agency of Nigeria (NAN).

According to the court, the aircraft was imported into Nigeria on October 26, 2015, but the owners failed to pay the required customs duties or obtain a valid Temporary Import Permit (TIP), in clear violation of Nigeria’s customs laws.

Court’s findings

Justice Omotosho ruled that Orlean Invest Africa Limited and other respondents failed to provide any justification for why the aircraft should not be forfeited to the Federal Government. The judge held that the failure to pay customs duty and secure appropriate importation permits amounted to a breach of the Nigeria Customs Service Act, which prescribes seizure and forfeiture for such infractions.

The court noted that the respondents provided no documentary evidence to show that customs duties were paid at the time of importation or afterward, effectively depriving the government of substantial revenue for nearly a decade.

“The respondents failed to show any justification for why the aircraft should not be forfeited to the Federal Government of Nigeria,” Justice Omotosho ruled, adding that the jet was lawfully seized by the NCS.

Arguments rejected by the court

In their defence, the respondents argued that the aircraft was foreign-registered in Malta and operated under an international charter arrangement by Elit’Avia Malta Ltd. They also contended that the provisions of the Nigeria Customs Service Act, 2023, could not be applied retrospectively to an aircraft imported in 2015.

Additionally, they cited clearances issued by the Nigerian Civil Aviation Authority (NCAA), including approvals for maintenance and flight operations, as evidence of regulatory compliance.

However, Justice Omotosho dismissed these arguments, stating that obligations under the repealed Customs and Excise Act were still applicable at the time of importation. He further relied on a January 17, 2017, NCAA circular which directed all aircraft owners importing aircraft into Nigeria to obtain customs clearance, pay applicable duties, or secure a Temporary Import Permit accompanied by an undertaking to re-export the aircraft within an approved timeframe.

The court found that Orlean Invest Africa Limited failed to comply with these requirements and did not present proof of duty payment or valid temporary import documentation.

Background to the case

The case arose from an audit conducted by the Nigeria Customs Service between June and July 2024, during which compliance levels among private aircraft operating in Nigerian airspace were reviewed. The audit uncovered widespread violations related to importation procedures and customs duty payments.

The NCS stated that the Bombardier Global 6000 jet owed N1.04 billion in customs duty and had been operating in Nigeria without the necessary permits since its importation.

In its final ruling, the court ordered the permanent forfeiture of the aircraft to the Federal Government, describing the decision as a significant enforcement milestone in Nigeria’s private aviation sector.

What you should know

The issue of private jets entering Nigeria without proper documentation or duty payment has persisted for years. In June 2024, the NCS launched a nationwide verification exercise aimed at identifying privately owned aircraft imported without the required permits and recovering outstanding customs duties.

As of August 2021, the NCS disclosed that 30 out of 65 verified private aircraft in Nigeria were liable to pay customs duties, many of which had entered the country under Temporary Importation agreements that later expired without settlement.

The latest ruling reinforces the government’s resolve to tighten enforcement, recover lost revenue, and ensure full compliance within Nigeria’s aviation sector.

Soludo Orders One-Week Closure of Onitsha Main Market Over Continued Sit-at-Home

  • dollaers
  • January 27, 2026
  • Business
  • 0 comments

Anambra State Governor, Professor Chukwuma Soludo, has ordered the immediate closure of the Onitsha Main Market for one week following the persistent observance of the Monday sit-at-home by traders, despite repeated government directives to resume normal business activities.

The directive was issued on Monday during the governor’s visit to the commercial hub, where he observed that a large number of shops remained shut, in defiance of assurances that markets would fully reopen. According to Soludo, the closure is part of renewed efforts by the state government to restore order, revive economic activities, and reassert state authority in the South-East.

Speaking at the market, the governor described the sit-at-home as a long-standing and deeply damaging practice that has crippled commerce and instilled fear among traders and residents.

“The enemy is the long-standing, fear-enforced Monday sit-at-home order, a ghostly mandate from non-state actors that has strangled businesses and normalised weekly shutdowns for years,” Soludo said.

He noted that despite improved security presence across the state and repeated appeals to traders to reclaim public spaces, the continued closure of shops reflected a deep-rooted climate of fear that the government could no longer tolerate.

Soludo warned that the one-week shutdown should be seen as a final opportunity for traders to make a clear decision on whether they intend to operate within the market under lawful conditions.

“You either decide that you are going to trade here or you go elsewhere. I am very serious about this,” the governor stated, adding that failure to fully reopen after the one-week closure would attract stiffer sanctions.

Following the announcement, a joint task force comprising personnel from the Nigeria Police Force, the Nigerian Army, and other security agencies was immediately deployed to the Onitsha Main Market to enforce the closure and maintain order throughout the period.

The government said the temporary shutdown would also be used to reassess security arrangements and engage market leadership to ensure compliance with state directives going forward.

Backstory to the sit-at-home
The Anambra State Government has intensified efforts in recent months to dismantle the long-running Monday sit-at-home directive widely attributed to non-state actors in the South-East.

Last week, the state government announced a ban on Monday school closures and ordered all education workers to resume duties without exception. According to an official circular, both teaching and non-teaching staff are required to report to work every Monday, with supervising officers directed to enforce full compliance.

The government warned that defaulters risk losing up to 20% of their monthly salaries, describing the measure as necessary to end what it called a “protracted and economically destructive” sit-at-home culture in the state.

Authorities say the decision to clamp down on school and market closures marks a turning point in Anambra’s push to normalise economic and social activities across the state.

What you should know
The Monday sit-at-home in Anambra and the wider South-East region dates back to August 2021, when the Indigenous People of Biafra (IPOB) called on residents to stay at home every Monday as part of a civil protest demanding the release of its detained leader, Mazi Nnamdi Kanu, who is standing trial on terrorism-related charges.

Although IPOB later announced the suspension of the directive, compliance has persisted in many areas, largely driven by fear of violence and reprisals.

According to a report by SBM Intelligence, the sit-at-home shutdowns enforced across the South-East have inflicted severe economic damage, with estimated losses of about N7.6 trillion over a four-year period.

The Anambra State Government maintains that ending the practice is critical to restoring investor confidence, protecting livelihoods, and sustaining long-term economic growth in the state.

Soludo’s latest action signals a tougher stance, as the government moves from persuasion to enforcement in its bid to permanently end the sit-at-home culture.

TikTok Star Khaby Lame Secures $900 Million Commercial Acquisition Deal

  • dollaers
  • January 25, 2026
  • Business
  • 0 comments

Khaby Lame, the world’s most-followed TikTok creator, has entered into a landmark commercial transaction valued at approximately $900 million, marking one of the largest monetisation deals ever recorded in the global creator economy.

The deal involves the partial sale of Step Distinctive Limited, the company that manages Khaby Lame’s commercial activities, and represents a major shift in how large-scale digital influence is being converted into structured, long-term business value. The transaction was disclosed by Rich Sparkle Holdings, a publicly listed U.S. company, which confirmed the completion of the acquisition alongside a broader strategic partnership tied to Lame’s global brand.

Under the agreement, Rich Sparkle, through its operating partners, will hold exclusive rights to Khaby Lame’s global commercial operations for an initial period of 36 months. These rights cover a wide range of revenue streams, including brand endorsements, advertising partnerships, merchandise, and e-commerce ventures linked to the creator’s image and intellectual property.

Strategic shift from endorsements to equity

Beyond the headline valuation, the structure of the deal highlights a deeper transformation in the creator economy. As part of the transaction, Khaby Lame will become a controlling shareholder in Rich Sparkle Holdings, positioning him not just as a brand ambassador or influencer, but as an equity participant with a direct stake in the company’s long-term performance.

According to Rich Sparkle, the partnership is designed to move away from fragmented, one-off endorsement deals toward a centralised, platform-driven commercial model. By integrating traffic generation, supply chain management, fulfilment, and technology, the company estimates that the combined business could generate more than $4 billion in annual sales once fully operational.

The rollout of the commercial model will initially focus on key international markets, including the United States, the Middle East, and Southeast Asia, with full implementation expected over the next three years. Execution of the strategy will be carried out in collaboration with Anhui Xiaoheiyang Network Technology Co. Ltd., a China-based content commerce operator with experience in large-scale digital retail operations.

Expanding the boundaries of content commerce

Rich Sparkle described the acquisition as a fundamental reimagining of global content monetisation. The company believes that combining a publicly listed corporate platform, a globally recognised digital personality, and an industrial-scale e-commerce supply chain will create a new benchmark for how creator-led businesses are built and scaled.

A key element of the strategy includes the development of an AI-powered digital twin authorised by Khaby Lame. This technology will replicate aspects of his facial expressions, voice patterns, and behavioural cues within a regulated framework. The digital twin is expected to support multilingual content production, virtual livestreaming, and continuous engagement across time zones, significantly expanding output without the constraints of physical scheduling.

In addition to mass-market e-commerce, the partnership also plans to pursue premium brand collaborations and co-branded intellectual property, particularly in sectors such as beauty, fragrance, fashion, and lifestyle products. These initiatives are intended to position Lame’s brand not only as a viral phenomenon but as a durable consumer-facing enterprise.

The rise of a global digital icon

Khaby Lame’s rise to global prominence is one of the most distinctive success stories in the social media era. Born in Senegal and raised in Italy, he gained worldwide recognition through short, silent videos that humorously critique overly complicated life hacks. His minimalist, wordless style has allowed his content to transcend language and cultural barriers, making it accessible to audiences across the globe.

Today, Khaby Lame commands an estimated 360 million followers across social media platforms, placing him among the most influential digital creators in the world. His reach, combined with a carefully managed brand image, has made him a highly attractive partner for global businesses seeking scale and authenticity.

A signal moment for the creator economy

The $900 million valuation attached to this deal underscores the growing institutional interest in the creator economy and highlights how top-tier digital creators are increasingly being treated as full-scale business assets rather than marketing channels.

For industry observers, the transaction signals a maturing market in which influence, data, and audience trust are being systematically converted into long-term commercial infrastructure. As creators continue to build global followings, deals of this nature may become a defining feature of the next phase of digital media and e-commerce convergence.

Appeal Court Disqualifies Nestoil’s Legal Team in $2 Billion Debt Dispute

  • dollaers
  • January 24, 2026
  • Business, Court
  • 0 comments

The Court of Appeal sitting in Lagos has disqualified Chief Wole Olanipekun, SAN, and Dr. Muiz Banire, SAN from representing Nestoil Limited and Neconde Energy Limited in the companies’ ongoing $2 billion debt dispute with a consortium of lenders.

The ruling was delivered on Friday, January 23, 2026, by a panel of justices of the Court of Appeal and was confirmed by sources within the Nestoil legal team. In a significant procedural move, the appellate court also struck out all legal processes filed by the law firms of the two senior advocates on behalf of the affected companies.

The decision represents a major shift in the long-running receivership battle between Nestoil and its creditors, many of which are Nigerian banks.

In its ruling, the Court of Appeal clarified the legal implications of receivership on corporate governance and legal representation. The court held that once a company enters receivership, the powers of its board of directors are suspended, including the authority to appoint or retain legal counsel in matters connected to the receivership.

On this basis, the court granted the application to disqualify Dr. Muiz Banire, SAN, and Chief Wole Olanipekun, SAN, from appearing for Nestoil Limited and Neconde Energy Limited, respectively. All filings and applications previously submitted by their law firms in the matter were consequently struck out.

The court also noted that Nestoil’s alleged indebtedness of about $2 billion is substantial, reportedly exceeding the minimum capital requirement of at least four Nigerian banks with international licences, underscoring the scale and systemic importance of the dispute.

The legal conflict between Nestoil and its lenders has unfolded across multiple courts over several months. In November, Nestoil initiated proceedings at the Federal High Court in Abuja against eight Nigerian banks and the African Export-Import Bank (Afreximbank), seeking to restrain them from enforcing receivership proceedings following a Notice of Default.

At that hearing, legal teams representing both sides—including Access Bank, FBNQuest Merchant Bank Limited, and Afreximbank—appeared before Justice Mohammed Umar. While the lenders maintained that the receivership was lawfully triggered due to Nestoil’s failure to meet its debt obligations, the company challenged the process and sought injunctive relief.

Earlier developments escalated tensions when armed officers of the Nigeria Police Force sealed Nestoil’s headquarters in Victoria Island, Lagos, following a Federal High Court order freezing the company’s assets, bank accounts, and shares. That order was linked to an alleged $1.01 billion and N430 billion debt owed to FBNQuest Merchant Bank Limited and First Trustees Limited, both subsidiaries of First Bank of Nigeria Limited.

Just a day before the latest ruling, the Court of Appeal had adjourned another receivership-related case involving FBNQuest Merchant Bank, First Trustees Limited, Nestoil Limited, Neconde Energy Limited, and other parties. Presiding Justice Yargata Nimpara held that the court could not proceed until the issue of who could validly represent the respondent companies was resolved.

The disqualification of Olanipekun and Banire directly addresses that procedural uncertainty, effectively clearing the way for the appellate court to proceed with substantive hearings in the receivership dispute.

The ruling is expected to have far-reaching implications for the conduct of receivership cases in Nigeria, particularly on the limits of board authority and legal representation once control of a company has shifted to court-appointed receivers.

Netflix slams Paramount’s $108 billion WBD bid over debt concerns

  • dollaers
  • January 24, 2026
  • Business, Entertainment
  • 0 comments

Netflix has sharply criticised Paramount’s proposed $108 billion takeover bid for Warner Bros. Discovery (WBD), raising concerns about the rival studio’s heavy debt burden and questioning the credibility of its financing structure.

Speaking to the Financial Times, Netflix co-chief executive Greg Peters said Paramount’s offer “doesn’t pass the sniff test,” arguing that the company is already over-leveraged and that most WBD shareholders have yet to back the proposal.

Netflix, which is pursuing a competing all-cash $82.7 billion bid, said its offer provides greater certainty and could allow shareholders to vote on the deal as early as April 2026.

If successful, Netflix’s acquisition would give it control of Warner Bros’ century-old film studio and HBO’s premium content library, including major franchises such as Game of Thrones and Harry Potter.

What Netflix is saying

Netflix has drawn a clear contrast between its offer and Paramount’s proposal, focusing on balance-sheet strength and execution risk.

“Paramount already is saddled with quite a lot of debt,” Peters said, adding that the rival’s $30-per-share offer would require what he described as “pretty crazy” levels of additional borrowing.

According to Peters, Netflix’s own financial position allows it to pursue the acquisition without relying on aggressive leverage, reducing uncertainty for shareholders.

He also argued that without the backing of Oracle co-founder Larry Ellison, Paramount would have “no chance in hell” of completing the transaction, highlighting the dependence of the bid on external financing.

The backstory

Paramount’s $108 billion bid for WBD is structured around a mix of debt and equity, including roughly $55 billion in debt and $40 billion in equity financing backed by Larry Ellison, the father of Paramount CEO David Ellison.

So far, Paramount has secured only about 7% of WBD shares through its tender offer, far below the 50% threshold required to gain control. While Paramount has signalled it could raise its bid, analysts have questioned whether further increases are feasible given the company’s existing leverage.

Netflix, by contrast, is positioning its bid as simpler and more transparent. The streaming giant, which now boasts around 325 million subscribers worldwide, says its all-cash offer eliminates the risks associated with complex financing structures and heavy borrowing.

Why it matters

The battle for Warner Bros. Discovery is being closely watched across the global entertainment industry, as a successful Netflix takeover could fundamentally reshape Hollywood.

A combined entity would merge Netflix originals such as Stranger Things and Squid Game with Warner’s deep catalogue of films and television content, potentially redefining production, distribution, and monetisation models.

Industry reports suggest Netflix could shorten theatrical exclusivity windows or release major films directly to streaming, a move that would further disrupt traditional cinema revenue.

Paramount has pushed back against Netflix’s criticism. Gerry Cardinale, founder of RedBird Capital and a major Paramount Skydance shareholder, dismissed Netflix’s bid as “smoke and mirrors,” arguing that it effectively shifts billions of dollars in debt onto WBD’s Discovery Global spin-off. He famously described the proposal as “the Harry Houdini of deals.”

As the contest intensifies, Netflix is presenting itself as financially disciplined and execution-ready, while portraying Paramount’s bid as over-leveraged and dependent on external backers — a narrative likely to weigh heavily on shareholder sentiment in the weeks ahead.

Nigerian Mobility Startup MAX Raises $24m to Scale Electric Vehicle Financing Across Africa

  • dollaers
  • January 18, 2026
  • Business
  • 0 comments

Metro Africa Xpress (MAX), a Nigerian mobility financing startup, has secured $24 million in a combined equity and debt funding round to accelerate its expansion into electric vehicle (EV) financing and clean mobility infrastructure.

According to a report by Tech Cabal, the funding round included equity investments from Equitane DMCC, Novastar, and Endeavor Catalyst, alongside asset-backed debt provided by the Energy Entrepreneurs Growth Fund (EEGF) and other development finance partners.

The raise comes as MAX continues to reposition its business away from conventional vehicle financing toward a fully integrated electric mobility platform.

What the funding will support

MAX said the fresh capital will be used to expand its electric vehicle fleet, roll out battery-swapping and clean energy infrastructure, strengthen its proprietary fleet management and IoT systems, and drive regional expansion across West and Central Africa.

The company also reiterated its medium-term targets of supporting 250,000 drivers by 2027 and surpassing $150 million in annual recurring revenue, underscoring the scale of its ambitions within Africa’s rapidly evolving mobility sector.

Speaking on the funding, MAX co-founder and CEO Adetayo Bamiduro said the capital would help the company accelerate growth while deepening its clean energy footprint across the continent.

“This capital allows us to scale faster, deepen clean energy infrastructure, and build a truly pan-African mobility platform that expands access, lowers costs, and delivers durable impact,” Bamiduro said.

Profitability milestone in Nigeria

MAX confirmed that it has reached profitability in Nigeria, a notable achievement in a market where few mobility and asset-financing startups have demonstrated strong unit economics and sustainable margins.

According to Bamiduro, the milestone shows that electric mobility in Africa has moved beyond experimentation. “Profitability in Nigeria proves that electric mobility in Africa is not a future concept. It is viable, scalable, and investable today,” he said.

This positions MAX among a small group of African mobility-focused companies that have successfully navigated high operating costs, infrastructure gaps, and currency volatility.

Previous funding and strategic shift

Before the latest round, MAX raised $31 million in Series B funding in 2021, led by Lightrock and Global Ventures, to support continental expansion and EV infrastructure development. The company has also raised more than $40 million in institutional debt for driver financing and deployed bonds and earlier venture funding to scale operations.

About a year ago, MAX undertook a major strategic reset, pivoting fully to electric vehicle financing and cutting roughly 30% of its workforce as part of a broader cost optimisation drive. The company exited less profitable business lines, reduced energy and generator usage, and tightened capital discipline to improve efficiency.

What you should know

Founded in 2015 by Adetayo Bamiduro and Chinedu Azodoh, MAX offers collateral-free vehicle subscription packages that bundle low- to zero-emission vehicles with insurance, maintenance, healthcare, and e-hailing services.

The company now operates an assembly facility in Ibadan with capacity to produce up to 3,600 electric two- and three-wheelers per month. Its latest funding round reflects growing investor confidence in Africa’s electric mobility ecosystem, where volatile fuel prices are making EVs increasingly attractive for commercial transport and last-mile logistics.

Overall, MAX’s $24 million raise highlights rising appetite for scalable, clean mobility platforms that combine financing, infrastructure, and technology in Africa’s urban transport markets.

AFCON Commercial Revenue Jumps 90% as CAF Records Most Profitable Tournament Yet

  • dollaers
  • January 17, 2026
  • Business, Sport
  • 0 comments

Commercial revenue generated from the Africa Cup of Nations (AFCON) has surged by 90%, marking a major financial milestone for the Confederation of African Football (CAF). The football governing body described the Morocco-hosted tournament as the most commercially successful edition in the history of African football.

The disclosure was made in a statement released by CAF and corroborated by a Reuters report dated January 16, 2026. According to the federation, the sharp rise in revenue was driven by stronger media rights distribution, a growing roster of commercial partners, and a deliberate expansion into new international markets, particularly Asia.

The performance underscores AFCON’s rising global profile and reflects CAF’s broader strategy to reposition the tournament as a commercially competitive football property capable of rivaling major continental competitions worldwide.

Sponsorship base expands significantly

CAF attributed much of the revenue growth to a rapid expansion in its sponsor portfolio. During the 2021 edition of the tournament, AFCON had nine commercial partners. This number rose sharply to 17 sponsors for the 2023 finals hosted in Ivory Coast.

For the 2025 edition in Morocco, the federation disclosed that it has secured 23 sponsors, highlighting growing confidence among global brands in the tournament’s commercial value.

“The growth has been matched by a steady expansion of the sponsor portfolio,” CAF said, noting that the increase reflects both the attraction of new global brands and the retention of existing partners. According to the body, many sponsors now see AFCON as offering a strong return on investment, reinforcing its appeal as a premium sports marketing platform.

Media rights and Asia drive revenue growth

Beyond sponsorships, broader media rights distribution played a key role in boosting revenue. CAF pointed to new broadcast arrangements, particularly in Asian markets, as a major contributor to the commercial uplift.

By expanding its footprint beyond traditional African and European audiences, AFCON has diversified its revenue streams and reduced dependence on legacy markets. CAF said Asia has emerged as a critical growth region, helping to enhance the tournament’s global visibility and financial resilience.

Financial context shows growing profitability

While CAF did not disclose the exact revenue figures for the most recent tournament, its recent financial disclosures provide insight into AFCON’s expanding scale. Financial statements presented at CAF’s congress last year showed that the previous Africa Cup of Nations generated about $96 million in net contract revenues.

In addition, CAF’s annual report projected that the Morocco-hosted tournament would deliver approximately $114 million in net profit. This marks a significant improvement compared to earlier editions, which often struggled with limited sponsorship depth and narrower broadcast reach.

The projections reinforce AFCON’s status as CAF’s most important commercial asset and a key driver of its financial sustainability.

What you should know

AFCON remains CAF’s flagship competition and primary revenue generator.
The 2023 Ivory Coast tournament marked a turning point in sponsorship interest and commercial scale.
CAF is actively targeting new global sponsors and broadcasters, with Asia playing a central role in its expansion strategy.
Nigeria’s Super Eagles participated in the competition but did not reach the final. Despite this, billionaire businessman Abdul Samad Rabiu has confirmed a $500,000 financial reward for the team in recognition of their performance and effort at the tournament.

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