Meet the owners of Nigeria’s SEC-approved crowdfunding platforms 

Crowdfunding in Nigeria has walked a long, uneven road, one that has seen bright promises, bitter losses, and the cautious hand of regulation.

For years, Nigerians desperate for alternative investments poured billions of naira into platforms dressed up as innovation but built on shaky foundations.

Many of these collapsed like the Ponzi schemes they were, leaving investors with nothing.

One of the most recent examples is Crypto Bridge Exchange, which promised Nigerians returns of up to 100% in just 30 days through digital asset trading. By April, withdrawals were restricted, and soon after, users discovered their balances had been wiped. The platform collapsed, leaving thousands unable to access their funds. Losses are estimated at about N1.3 trillion, though the exact recovery remains unclear.

The Securities and Exchange Commission (SEC), as far back as January 2021, issued rules establishing Nigeria’s first regulatory framework for crowdfunding. The rules defined who could raise funds, how much they could collect, and the safeguards required for investors. Platforms were expected to register as crowdfunding intermediaries, disclose their operations, and operate within set limits.

Today, only a few platforms carry the SEC’s approval to operate. They represent a narrow but significant slice of the financial system, one built not on promises of miracle profits, but on the steady rules of disclosure, limits, and accountability.

These are the firms carrying the weight of proving that crowdfunding in Nigeria can be trusted. And at the center of it all are the CEOs, men whose choices will determine how far this young industry can go.

Here are the owners of Nigeria’s SEC-approved crowdfunding platforms

Ikponmwosa Izedonmwen – Co-Founder, MonieWorx  

Ikponmwosa Izedonmwen is a seasoned finance professional with over 25 years of experience spanning corporate finance, investment banking, and manufacturing.

He began his career at Procter & Gamble in 1994 as a financial analyst before moving to Citibank in 1999, where he worked on energy, construction, telecoms, and infrastructure financing.

He later joined First Bank of Nigeria as a manager in project finance, before taking up senior roles at FBNQuest as Vice President in Project and Structured Finance. In 2010, he moved to Notore Chemical Industries as General Manager, Corporate Finance, overseeing treasury, corporate finance, and planning functions.

From 2014 to 2019, he served as General Manager at FSDH Merchant Bank, where he led the Investment Banking Group with responsibility for financial advisory, M&A, capital markets, structured finance, and oversight of FSDH Securities Limited.

He then became Director at Verdant Capital between 2019 and 2022, a pan-African advisory firm specializing in specialist funds, debt capital, restructuring, and cross-border M&A. Currently, he is a partner at Olivegreen Advisory Partners, based in Lagos.

Izedonmwen holds a first degree in Biochemistry from the University of Benin. He is a member of the Institute of Chartered Accountants of Nigeria and has successfully executed numerous project finance, capital market, and M&A transactions across West Africa.

Lanre Showunmi – Co-Founder, MonieWorx  

Lanre Showunmi is a technology and finance professional with more than 25 years of experience across banking, database architecture, and cloud technologies. His career reflects a rare blend of financial sector expertise and cutting-edge technology leadership.

He began his career in database administration and tech support at Cards Technology Limited in 2009, before moving to City Business Computers in 2012. By 2013, he became Lead Database Administrator at Wema Bank Plc, overseeing the bank’s entire database landscape. He later held senior roles at IBM and Oracle, specializing in database optimization, systems integration, and technical sales.

In 2016, Showunmi joined Amazon Web Services (AWS) in London as a Senior Database Architect, where he spent more than seven years designing and optimizing database solutions, driving systems integration, and supporting clients with complex technical requirements. In 2024, he moved to Google, where he currently works as a Customer Engineer, focusing on BigQuery and unstructured data solutions.

Earlier in his career, Showunmi also held senior management positions in financial services, including at Bell Canada, B2B Bank of Canada, Canadian Imperial Bank of Commerce, Access/Diamond Bank, FMDQ Securities Exchange Group, and Fidelity Bank.

He holds a degree in Economics from Ogun State University and an MSc in Consumer Analytics and Marketing Strategy from the University of Leeds, United Kingdom.

Richard Ogunmodede – Co-Founder, MonieWorx 

Richard Ogunmodede is a finance and business strategist with more than 25 years of experience across banking, consulting, and technology-driven financial services.

He is the Co-Founder of Obelix 4.1.1 Alternative Ltd, one of the crowdfunding platforms approved by the Securities and Exchange Commission (SEC) in Nigeria.

He began his career at Citibank in 1992, working as a software programmer for five years before moving into management consulting. In 2003, he joined Accenture as an experienced manager in strategy and business architecture, a role he held briefly before transitioning to First Bank of Nigeria Plc.

At First Bank, he spent over a decade as Head of Business Performance Monitoring, where he was responsible for corporate strategy, financial analysis, and operational performance until 2014. That same year, he became Director at SPERE Ltd., a Lagos-based firm he continues to lead.

Ogunmodede studied accounting at Obafemi Awolowo University, graduating with a first-class degree. He has also completed several executive programmes, including the Senior Management Programme and the Advanced Management Programme at Lagos Business School, the Achieving Outstanding Performance Programme at INSEAD in France, and the Driving Corporate Performance Programme at Harvard Business School

To date, MonieWorx has raised about N5.23 billion through a mix of regulation crowdfunding and managed accounts, building a base of over 10,000 active investors. Notably, the platform has maintained a zero default rate so far, a record that has set it apart in a sector where credibility is often a concern.

Dr. Roland Igbinoba, Founder/CEO Propcrowdy Ltd 

Dr. Roland Igbinoba is a name synonymous with innovation in Nigeria’s real estate and proptech space. As the founder and CEO of Propcrowdy Ltd, he has positioned the company as a leading SEC-approved crowdfunding platform for property investment, providing Nigerians with an accessible and regulated avenue to grow their wealth through real estate.

The platform currently boasts over 20,000 active investors, highlighting its growing trust and reach across the country.

Beyond Propcrowdy, Dr. Igbinoba’s entrepreneurial footprint spans multiple ventures, including Pison Housing Company, PropTech54, and Niproptech, showcasing a career dedicated to transforming housing finance and property development across Africa.

With a professional journey rooted in finance and real estate, Dr. Igbinoba previously served as Managing Director and CEO of FHA Mortgage Bank Ltd, where he oversaw mortgage operations and contributed to sector growth. He also held the role of Deputy President at the Mortgage Bankers Association of Nigeria (MBAN), playing a critical part in shaping mortgage market development nationwide.

Earlier in his career, he led Pison Housing Company as President and CEO, steering projects that focused on financial inclusion and housing solutions for underserved populations.

Academically, Dr. Igbinoba combines rigorous expertise with practical experience. He earned a Doctorate in Business Administration with a focus on Economics and Finance from Cranfield School of Management, a Real Estate Development and Finance certification from Harvard University Graduate School of Design, and an MBA in Management from the Federal University of Technology, Owerri.

Dr. Igbinoba’s leadership continues to influence the evolution of Nigeria’s real estate sector, bridging the gap between traditional housing finance and innovative digital solutions for investors.

Abayomi Ogunjobi, Co-Founder PennyTree 

Abayomi Ogunjobi is a seasoned financial professional with over 13 years of experience across corporate finance, investor relations, fintech, and business strategy.

He currently serves as Co-Founder of PennyTree, a digital banking platform providing seamless financial services to both individuals and merchants through its mobile app. Under his leadership in FP&A, strategy, and investor relations, PennyTree continues to grow its footprint in Nigeria’s fintech ecosystem.

Ogunjobi’s career spans multiple high-profile roles. He previously led strategy, planning, and investor relations at Crystal Capital, a financial services company leveraging technology to bridge financing and investment gaps.

Before that, he headed the Group Strategy Office at Prosperis Holdings and managed investor relations at Arrhenn. His early career includes key roles at United Capital, UBA Group, and the United States Tennis Association, where he honed his expertise in financial planning, corporate finance, and investor relations.

Academically, Ogunjobi combines robust technical knowledge with international credentials. He holds a Bachelor’s degree in Accounting from the University of Abuja, an MBA with distinction in Finance from the New York Institute of Technology, and professional certifications including ACCA (UK), ACIB (Nigeria), CPA (Canada), and advanced training in financial modeling, FP&A, and Islamic capital markets. He has also completed specialized executive programs at the Lee Kuan Yew School of Public Policy and Red Money Financial Services, enhancing his skills in public policy analysis, international capital markets, and Islamic finance.

Ayo Ogunlowo, Co-Founder PennyTree 

Ayo Ogunlowo, Co-Founder of PennyTree is a finance and digital banking professional with a strong track record in leadership across fintech, banking, and advisory services.

Ogunlowo’s career spans multiple leadership roles across banking, technology, and advisory. He is also a Director at Atunlo, Treegar, and previously Quatrust Finance, managing consumer and SME credit initiatives. Internationally, he served as Global Program Manager at Andela, overseeing the D1+ and D0B Developer Growth Pipeline programs in the United States.

At Access Bank Plc, he progressed from analyst to team lead, driving business transformation, operations, and project management.

Beyond banking, Ogunlowo leverages his expertise in sustainable development and business advisory as a partner at Will & Action Consulting Services, supporting initiatives across Lagos, Nairobi, Kigali, and Accra. His cross-border experience in financial services, consulting, and technology positions him to bridge traditional banking with innovative digital finance solutions effectively.

He holds a Bachelor of Science degree in Economics from the University of Ilorin, where he was actively involved in AIESEC. Ogunlowo’s combination of technical expertise, strategic insight, and international exposure continues to influence Nigeria’s fintech and digital banking landscape, driving growth and innovation at PennyTree and beyond.