Business
E- Commerce: bitMARTe Launches in Nigeria with Same-Day Delivery, Buyer Protection and Merchant Financing
With its official launch, bitMARTe is now live and open to users across Nigeria, positioning itself as a technology-enabled commerce platform focused on speed, trust, local content and economic empowerment.
Photo: Left to Right: Amaka Onaibre – Legal Counsel, Dr Eke Eke – Chief Executive Officer, Tolulope Ogungbade – Business Manager & Chief Operating Officer.
bitMARTe, a new Nigerian-focused e-commerce platform, has officially launched operations, unveiling a suite of innovative features designed to address long-standing challenges facing online shopping and digital commerce across Nigeria and Africa.
Speaking at the launch, Chief Executive Officer of SpringRock Group and founder of bitMARTe, Dr. Eke Eke, said that the platform was built with a deep understanding of the peculiar realities of the African market, particularly issues around delivery delays, payment security, product quality and access to business capital.
Beyond online marketplace
Dr. Eke emphasised that bitMARTe is not merely an online marketplace but a technology-driven operating system tailored to manage the infrastructural and logistical challenges unique to the region, while delivering services comparable to global e-commerce standards.
One of the platform’s standout innovations is its same-city, same-day delivery service, aimed at restoring consumer confidence in online shopping.

A gap bitMARTe intends to close.
Dr. Eke noted that delivery delays have historically discouraged Nigerians from relying on e-commerce for urgent purchases, a gap bitMARTe intends to close.
The platform also places strong emphasis on promoting Made-in-Nigeria products, offering buyers access to a wide range of locally produced goods without the restrictions commonly seen on other platforms.
This, according to the founders, will enhance affordability while supporting local manufacturers and merchants
To attract early adopters, bitMARTe has rolled out multiple promotional incentives. The first 5,000 users to register on the platform will receive a ₦1,000 gift card, while users who successfully refer others who make purchases will earn ₦1,000 per referral, with no cap on earnings.
First-time buyers will also enjoy additional rewards, creating multiple earning opportunities for active users.

Payment Safety
Addressing concerns around payment safety, Dr. Eke explained that bitMARTe operates a secure escrow-style payment system, ensuring that funds are only released to merchants after buyers confirm receipt and satisfaction using a unique verification code.
This mechanism, he said, provides strong protection against fraud and misrepresentation.
In addition, bitMARTe has established a robust quality assurance framework to ensure product accuracy and integrity. Items that fail to meet stated standards will be removed from the platform, while goods damaged in transit will be replaced at no cost to the buyer.
The company also pledged to investigate and address the root causes of such incidents to maintain high service standards.
bitMARTe’s customer service architecture
Dr. Eke emphasized that bitMARTe’s customer service architecture is deliberately buyer-centric, with centralized handling of interactions to ensure consistency, professionalism and fairness across the platform.
Beyond buyers, bitMARTe is also positioning itself as a growth partner for merchants.
In response to a question on its merchant financing model, Dr Eke disclosed that the platform plans to offer loans to active merchants after six months of operation, based on transaction history, cash flow and conduct on the platform.
He noted that access to affordable credit remains a major obstacle for Nigerian businesses, adding that bitMARTe’s financing model is designed to provide practical and sustainable loan terms, in contrast to the high interest rates typically charged by commercial banks.
Present at the launch
Also present at the launch were Mrs Tolu Ogungbade, Business Manager and Chief Operating Officer of bitMARTe, and Mrs Amaka Onaibre, Legal Adviser, who both reaffirmed the company’s commitment to transparency, compliance and long-term value creation for users and partners.
With its official launch, bitMARTe is now live and open to users across Nigeria, positioning itself as a technology-enabled commerce platform focused on speed, trust, local content and economic empowerment.
Business
TIME Names Moniepoint CTO Felix Ike Among 50 Global Executives of the Year
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
TIME magazine has named Felix Ike, co-founder and Chief Technology Officer of Nigerian fintech Moniepoint, to its inaugural Executives of the Year: Tech and Data list.
Ike is the only executive representing an African company among the 50 leaders selected for the 2026 list.
The list, unveiled on Tuesday, September 22, recognises chief information officers, chief technology officers, chief data officers and chief product officers whose decisions are shaping how major organisations deploy technology and use data.
Moniepoint is also the only African company represented on the inaugural list.
Ike was named alongside executives from Netflix, CrowdStrike, Dell, Duolingo, AT&T, OpenAI, Anthropic, Shopify and Reddit, among others.
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
“The recognition follows Moniepoint’s inclusion in TIME’s 2025 list of the 100 Most Influential Companies, giving the Lagos-founded fintech another global distinction.
Business
Naira Exchange Rates, Friday September 25
Black Market Rates
₦1382DOLLAR (USD)
₦1855POUND (GBP)
₦1545EURO (EUR)
1000 DOLLAR (CAD)
₦70 RAND (ZAR)
370DIRHAM (AED)
190YUAN (CNY)
₦100G.CEDI (GHS)
₦2350 CFA F.(XOF)
₦2250 CFA F.(XAF)
₦850 AUSSIE (AUD)
Official CBN Exchange Rates
DOLLAR (USD)₦1328.67
POUND (GBP)₦1758.36
EURO (EUR)₦1511.63
SWISS FRANC (CHF)₦1605.45
JAPANESE YEN (JPN)₦8.38
CFA FRANC (XOF)₦2.31
WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1808.03
CHINESE YUAN (CNY)₦197.92
SAUDI RIYAL (SAR)₦353.86
SOUTH AFRICAN RAND (ZAR)₦81.09
Business
Djibouti, Ethiopia and Dangote to build $660 million petroleum pipeline
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
Ethiopia, Djibouti and Nigerian billionaire Aliko Dangote plan to build a $660 million refined petroleum pipeline that will connect Ethiopia and Djibouti, a spokesperson in Ethiopian Prime Minister Abiy Ahmed’s office said on Thursday.
The project will include a 120-km (75-mile) pipeline, as well as approximately 375,000 cubic metres of storage capacity at Damerjog in Djibouti and 800,000 cubic metres at Dewele in Ethiopia, the spokesperson told Reuters, adding it should become operational within 18 months.
Abiy said on his X account the project will be developed through a partnership between Ethiopian Investment Holdings and the Dangote Group, which separately is already building a $4 billion fertiliser pipeline and power plant, and a polypropylene packaging facility, in Ethiopia.
The project aims to reduce logistics costs and delays along the Ethiopia-Djibouti transport corridor, Abiy said.
Developers say the infrastructure will strengthen energy security and improve supply chain resilience for the two countries, he said.
Abiy is on a visit to Djibouti and made the announcement alongside its president, Ismail Omar Guelleh, and Dangote.
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
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