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
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.
Any entity collecting money from d public on a particular returns monthly without following due process is ponzi and scam.
One entity called Ewealth Connect since December 2024 has been in this shabby business of collecting money from Nigerians with a promise of 100% interest in 21 days.
Thousands of Nigerian have sank billions of naira without hope of recovering their capital let alone the promised interest.
I’m calling on the authorities concerned to take necessary action, call Mrs. Ada (aka Ada Dollar ) the founder and pioneer of Ewealth Connect on 0706 095 2774 or join their telegram groups to see what they are up to. They have graduated to creating fake crypto token for d public to buy.
https://t.me/ChainMergeReality