The Academic Staff Union of Universities, ASUU, announced this morning the suspension of its two-week warning strike it declared last week across all public universities in the country.

The union announced the suspension on Wednesday at a press conference held at its headquarters in Abuja.

President of ASUU, Chris Piwuna, explained that the development followed intervention by the Senate and some other well-meaning Nigerians.

However, he said that the National Executive Council of the Union resolved to give the government a one-month window to address all contending areas.

In a landmark step toward modernising its operations, the Nigeria Customs Service (NCS) on Monday officially launched the Customs Verification Management System (CVMS) — a new digital platform that allows Nigerians to verify the clearance and duty payment status of imported vehicles in real time.

The platform, unveiled at the Customs Headquarters in Abuja by Comptroller-General Adewale Adeniyi, is part of a broader reform initiative aimed at enhancing transparency, curbing smuggling, and improving service efficiency.

“This platform redefines how vehicle verification is conducted across Nigeria,” Adeniyi said. “For years, outdated systems left room for fraud, revenue leakage, and frustration. CVMS now introduces a simple, seamless, and secure way to verify a vehicle’s duty status — accessible from anywhere in the world.”

Developed Through Public-Private Partnership

The CVMS was developed in partnership with the Trade Modernisation Project (TMP) and Afripoint Consult, an indigenous tech firm, as part of the NCS’s digital transformation strategy. The platform, which has been in trial mode for two months, is now fully operational.

Users can verify vehicle clearance by entering the Vehicle Identification Number (VIN) and paying a ₦15,000 verification fee using any local or international debit or credit card.

“This is a homegrown solution to a long-standing problem,” Adeniyi said. “It empowers the public, importers, and dealers with verifiable data while eliminating manual bottlenecks and inconsistencies in our internal operations.”

Empowering Citizens, Supporting Enforcement

Adeniyi highlighted that the CVMS will democratise access to verified customs data, giving buyers and importers the confidence to transact with certainty and reducing fraud linked to fake customs papers.

“For the public, it brings transparency and ease of access. For our officers, it means smarter, faster, and more accountable customs operations,” he added.

He also noted that the platform supports the federal government’s broader digital agenda and will strengthen enforcement by providing officers with real-time data and analytics to detect anomalies and improve decision-making.

A Tool for Dealers and Law Enforcement

Ajibola Adetula, Managing Director of Afripoint Consult, described the CVMS as a “bifocal platform” serving both the public and customs officers.

“It allows users to confirm vehicle clearance instantly, while also helping enforcement agents verify documents, even outside working hours,” he said.

The platform is integrated with the NCS vehicle clearance database dating back to 2017, ensuring historical records are accessible and verifiable.

A Welcome Relief for Auto Dealers

Also present at the launch was Ajibola Adedoyin, Chairman of the Association of Motor Dealers of Nigeria, who called the system a long-overdue innovation.

“For years, we’ve asked for a reliable system to confirm clearance and reduce harassment of legitimate dealers. This gives us proof we can stand by when issues arise,” he said.

Part of a Broader Modernisation Drive

The CVMS is part of the Nigeria Customs Service’s 20-year Trade Modernisation Project, which seeks to improve trade facilitation, increase revenue, and reduce corruption in the customs process through automation and private sector collaboration.

It also comes amid growing concerns over fake customs documents and smuggled vehicles, which have led to revenue losses and frequent disputes between customs officers and dealers.

With CVMS, the NCS aims to close loopholes, restore public trust, and support the federal government’s goal of achieving a fully automated border and trade management system by 2030.

The launch marks another milestone in Customs’ journey towards digital transformation — ensuring transparency, efficiency, and accountability across Nigeria’s import and vehicle verification processes.

Moniepoint Inc., Nigeria’s leading digital financial services provider, has announced the successful close of its Series C funding round, raising over $200 million in equity financing. The investment underscores the company’s rapid growth, sustained profitability, and strong impact in expanding financial inclusion across Africa.

The round was led by Development Partners International’s ADP III fund, with the final close anchored by LeapFrog Investments, a top-tier impact investor. Other high-profile participants include Google’s Africa Investment Fund, Visa, the International Finance Corporation (IFC), Proparco, Swedfund, Verod Capital Management, Lightrock, and Alder Tree Investments.

Moniepoint, formerly known as TeamApt, is now one of the few global fintechs — and the first in Africa — to achieve profitability at unicorn scale while driving inclusion for millions of underserved individuals and businesses. With over 10 million active users and an annual digital transaction value exceeding $250 billion, the company has cemented its status as a cornerstone of Africa’s digital economy.

Funding to Fuel Expansion and Innovation

According to Moniepoint, the new capital will support its next growth phase — enhancing services for micro, small, and medium-sized enterprises (MSMEs), expanding its presence across Africa, and venturing into new international markets.

The raise follows a period of strong momentum for the company, marked by the launch of MonieWorld, a remittance solution for the African diaspora in the UK, and a new integrated payment and bookkeeping platform for MSMEs. Moniepoint was recently named one of Africa’s fastest-growing companies by the Financial Times for the third consecutive year, and also featured in CNBC’s Top Global Fintech Companies 2025.

Executive and Investor Commentary

Moniepoint’s Group CEO and co-founder Tosin Eniolorunda called the raise a “proud day” for the company.

“We founded Moniepoint to widen financial inclusion and help African entrepreneurs realise their potential. The support from world-leading institutions is a powerful validation of that mission,” said Eniolorunda.
“We will deploy the funds strategically to build momentum in our next chapter — delivering financial happiness for Africans everywhere.”

Development Partners International (DPI), which led the initial close of the round in October 2024, reaffirmed its confidence in the fintech.

“Moniepoint continues to deliver innovation, scale, and profitability. We’re proud to back their leadership as they grow across Africa and beyond,” said DPI Partner Adefolarin Ogunsanya.

LeapFrog Investments Partner Karima Ola emphasized Moniepoint’s impact on African MSMEs:

“MSMEs are the heartbeat of African economies. Moniepoint empowers them with the tools they need to grow, employ others, and formalize operations.”

IFC’s Global Director for Disruptive Technologies, Farid Fezoua, highlighted the fintech’s role in digitizing informal retail:

“Moniepoint is transforming how MSMEs operate in Nigeria. With competitively priced point-of-sale devices and a modern digital platform, it enables growth and job creation in a cash-dominated sector.”

Continued Backing from Global Investors

The Series C round expands Moniepoint’s roster of global blue-chip investors, including QED Investors, Novastar Ventures, FMO, British International Investment, Global Ventures, Endeavor Catalyst, and New Voices Fund.

Financial Technology Partners acted as exclusive financial and strategic advisor to Moniepoint throughout the transaction.

Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint has evolved from building bank payment infrastructure to becoming Nigeria’s leading business banking platform, offering a full suite of financial services — including digital payments, business and personal banking, credit, and business management tools.

With this latest funding milestone, Moniepoint is poised to accelerate its mission to empower African businesses and individuals to achieve their financial dreams.