Crowdfunding in Nigeria has walked a protracted, uneven highway, one which has seen brilliant guarantees, bitter losses, and the cautious hand of regulation.
For years, Nigerians determined for various investments poured billions of naira into platforms dressed up as innovation however constructed on shaky foundations.
Many of those collapsed just like the Ponzi schemes they had been, leaving traders with nothing.
Probably the most latest examples is Crypto Bridge Trade, which promised Nigerians returns of as much as 100% in simply 30 days by digital asset buying and selling. By April, withdrawals had been restricted, and shortly after, customers found their balances had been wiped. The platform collapsed, leaving 1000’s unable to entry their funds. Losses are estimated at about N1.3 trillion, although the precise restoration stays unclear.
The Securities and Trade Fee (SEC), way back to January 2021, issued guidelines establishing Nigeria’s first regulatory framework for crowdfunding. The foundations outlined who might elevate funds, how a lot they may accumulate, and the safeguards required for traders. Platforms had been anticipated to register as crowdfunding intermediaries, disclose their operations, and function inside set limits.
Right this moment, only some platforms carry the SEC’s approval to function. They symbolize a slender however important slice of the monetary system, one constructed not on guarantees of miracle income, however on the regular guidelines of disclosure, limits, and accountability.
These are the corporations carrying the load of proving that crowdfunding in Nigeria could be trusted. And on the middle of all of it are the CEOs, males whose selections will decide how far this younger business can go.
Listed here are the homeowners of Nigeria’s SEC-approved crowdfunding platforms
Ikponmwosa Izedonmwen is a seasoned finance skilled with over 25 years of expertise spanning company finance, funding banking, and manufacturing.
He started his profession at Procter & Gamble in 1994 as a monetary analyst earlier than shifting to Citibank in 1999, the place he labored on vitality, development, telecoms, and infrastructure financing.
He later joined First Bank of Nigeria as a supervisor in undertaking finance, earlier than taking on senior roles at FBNQuest as Vice President in Mission and Structured Finance. In 2010, he moved to Notore Chemical Industries as Basic Supervisor, Company Finance, overseeing treasury, company finance, and planning features.
From 2014 to 2019, he served as Basic Supervisor at FSDH Merchant Bank, the place he led the Funding Banking Group with duty for monetary advisory, M&A, capital markets, structured finance, and oversight of FSDH Securities Restricted.
He then turned Director at Verdant Capital between 2019 and 2022, a pan-African advisory agency specializing in specialist funds, debt capital, restructuring, and cross-border M&A. Presently, he’s a companion at Olivegreen Advisory Companions, based mostly in Lagos.
Izedonmwen holds a primary diploma in Biochemistry from the University of Benin. He’s a member of the Institute of Chartered Accountants of Nigeria and has efficiently executed quite a few undertaking finance, capital market, and M&A transactions throughout West Africa.
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