Four Nigerian Entrepreneurs Spearhead Africa’s Prosperous Cryptocurrency Exchange

The cryptocurrency landscape in Nigeria has seen an impressive rise, with the nation emerging as a pivotal hub for digital currency innovations, largely due to the efforts of visionary entrepreneurs. Central to this crypto boom are four enterprising Nigerians whose efforts have brought about some of the continent’s most successful cryptocurrency exchanges. Their work not only defines the future of decentralized finance within Africa but is also a testament to Nigeria’s ability to produce globally competitive innovations.

Ruth Iselema – Bitmama

Ruth Iselema, a vanguard in Nigeria’s crypto scene, is best known as the founder and CEO of Bitmama, an influential cryptocurrency exchange. She embarked on her entrepreneurial journey backed by an encouraging family in Port Harcourt and later pursued a degree in Pharmacy at the University of Port Harcourt. Ruth’s crypto venture began in 2015 when introduced to blockchain by a friend. Having initially lost funds to a fraudulent scheme, she was driven to establish Bitmama in 2017 as a safe haven for traders, which has since become a prominent entity in the African crypto sphere. Bitmama has attracted $2.5 million in investments and features a catalogue of over ten digital currencies. Beyond her business aspirations, Ruth champions the engagement of women in the cryptocurrency domain and envisions blockchain as a means to unlock financial inclusivity in developing economies.

Buchi Okoro – Quidax

Buchi Okoro, together with his co-founders Uzo Awili and Morris Ebieroma, founded Quidax in 2018 aiming to provide a well-secured cryptocurrency trading platform in Nigeria and beyond. Quidax’s conception was motivated by Buchi’s own bitter experience with fraud in his initial Bitcoin dealings, which later fuelled his commitment to crafting a safe trading environment. Quidax made a name for itself as the first Nigerian exchange to secure a provisional Digital Assets Exchange license from the Nigerian Securities and Exchange Commission (SEC), emphasizing its commitment to compliance and protection for its users. The platform took off following seed capital and the TechStars Accelerator Program, laying the groundwork for a dependable digital trading space. Buchi’s diverse background across various industries has been invaluable in his role as CEO of Quidax, where he now harnesses his passion to streamline the buying and selling of cryptocurrencies with ease using local currencies.

Michael Adeyeri and Moyosore Sodipo – Busha

Under the leadership of Michael Adeyeri and Moyosore Sodipo, Busha has carved out its place as a distinguished crypto exchange in Nigeria. With Michael at the helm as CEO and CTO and Moyosore as CPO and COO, the duo has guided Busha to secure a preliminary licence from the Nigerian SEC, solidifying its focus on adhering to regulations and safeguarding users. Based in London, Busha has successfully amassed $4.2 million from investors, showcasing investor confidence in its mission. The platform offers over 50 cryptocurrencies for trading, providing a broad and dynamic experience for users.

Uchenna Nnodum – Roqqu

Roqqu, spearheaded by Uchenna Nnodum in 2019, has rapidly gained a prominent position in the Nigerian cryptocurrency exchange arena and operates out of Lekki, Lagos. Designed with the intent of streamlining global payments and brokerage services, Roqqu serves the needs of Nigerian and Ghanaian customers by offering an assortment of over 100 cryptocurrencies, catering to a wide range of trading preferences. Uchenna’s staunch dedication to user experience and security has positioned Roqqu to successfully vie with global giants like Binance and Bybit.