City, State/Country—Naija don feel the shake as Okra, once the golden child of open banking, don officially shut down. Fara Ashiru Jituboh, wey co-found the fintech, don pack her load after five years wey sweet but at the same time, plenty wahala. The news come confirm sey Okra don close shop since May 2025, just a few months after dem launch Nebula, their cloud services.
Jituboh no dey idle o! She don land head of engineering position for Kernel, wey be UK startup. The wahala wey Okra face no be small, as dem talk say na economic factors and plenty pressure wey make dem stop work. Jituboh drop statement wey make am clear sey dem really try but money matter no gree.
Okra wey Jituboh and her padi David Peterside found in 2019, make dem shine for the fintech world by allowing people to connect their bank accounts to third-party apps. Na the first place wey open banking begin show face for Naija. Before all dis wahala start, dem don raise over $16 million from investors, including serious people like TLcom Capital. Dem integrate with major banks wey dem dey call big boys for Naija like Access Bank, Renmoney, Bamboo, and AIICO Insurance. Even na handle 175% increase for API usage wey no be joke at all!
But as November 2024 reach, wahala begin dey for Ogbonge Nebula wey Okra launch. Dem try pivot to cloud services to help local startups avoid the crazy dollar exchange rate, but the plan no gel well. Jituboh talk sey the rising cost of cloud services, wey dey burn dem pocket, no fit allow them shine again. E be like sey they miscalculate how hard e go take run that kind business for Naija.
“We built impactful technology, worked with some of the biggest brands across the continent,” Jituboh reflect as she dey talk about the journey. But as economic situation dey worsen, and naira dey fall, na so dis belleful dream dey end. Jituboh’s new role for Kernel dey show sey she nor ready to give up as she don pack her mat and dey ready for the next big show, as she be person wey dey trailblaze!
Okra of e do that Naija wahala weave inside the global tech scene no be small. The story wey dey unfold go make many startups take eye shine, as dem dey see sey success for tech area no too dey secure, but at least e show sey homegrown talent fit travel far. As we dey watch how Jituboh and others go take shape the future, one thing dey clear: Naija tech na the place to dey!
