It is a story of commitment, local innovation, and belief in homegrown capacity.

As CardForté celebrates its fifth anniversary, its impact is being measured not merely by numbers or technological deployments, but by the lives it has transformed and the expertise it has cultivated within Nigeria.

From a young engineer in Ikeja gaining hands-on experience building secure digital systems, to local professionals mastering smart card production technologies once dominated by foreign firms, CardForté’s journey reflects a deliberate investment in people as much as in infrastructure.

For decades, Nigeria’s digital backbone, from secure identification systems to biometric verification platforms, has largely depended on imported technology and foreign expertise. When these systems faltered, solutions often required external intervention, creating delays, costs, and dependency.

Recognizing this gap, co-founder Seun Lawal said the company was built on a vision that goes beyond profit.

“It’s about making sure the light stays on here,” Lawal stated. “When a young professional masters smart card production or secure digital infrastructure on home soil, they don’t just earn a paycheck, they become a lighthouse. They teach others, they innovate, and they prove that ‘Made in Nigeria’ is not just a label, but a standard of excellence.”

Over the past five years, CardForté has positioned itself as more than a technology provider, it has become a training ground for specialized digital skills, fostering a new generation of Nigerian experts capable of designing, managing, and maintaining critical systems locally.

Tunde Aka-Bashorun, the co-founder,  emphasized that the company’s work ultimately centers on people and trust.

“Trust is the currency of the digital age,” Aka-Bashorun explained. “When a grandmother in a rural community can verify her identity at a clinic in seconds, or a student receives a secure ID that opens doors to their future, that is not just technology, it is inclusion in its most practical form.”

By localizing production and expertise, CardForté has also improved responsiveness and reliability in service delivery. Issues that once required international support can now be resolved swiftly within Nigeria, strengthening confidence in digital systems and creating what the company describes as a “social contract” between developers and users.

Beyond its human impact, the company’s approach carries significant economic implications. By retaining technical skills and building local supply chains, CardForté contributes to reducing capital flight and ensuring that the financial benefits of Nigeria’s digital transformation remain within the country.

This, in turn, supports local economies, funding education, creating jobs, and empowering startups that depend on secure digital infrastructure.

Rather than pursuing rapid visibility through consumer-facing applications, CardForté has focused on the less visible but essential layer of development, infrastructure.

The company’s legacy, five years on, is reflected in a growing workforce of confident Nigerian professionals who now see themselves as architects of the nation’s digital future.

As Nigeria accelerates its transition into a digitally driven economy, CardForté’s story underscores a critical truth, while technology can be imported, sustainable expertise must be built at home.

In that effort, the company stands as a testament to what is possible when innovation is rooted in local talent, and when human capacity is placed at the center of national development.

During its pilot phase, Clea processed more than USD 4 million in cross-border transactions, demonstrating strong early demand from businesses navigating the complexities of global trade.

African importers have long struggled with limited FX access, unpredictable exchange rates, high bank charges, fraudulent intermediaries, and payment delays that slow or halt shipments.

The continent also faces a trade-finance gap estimated at over USD 120 billion annually, limiting importers’ ability to access the FX and financial infrastructure needed for timely international payments.

Clea addresses these persistent challenges by offering fast, transparent, and direct USD settlements, completed without intermediaries or banking bottlenecks.

Founded by Sheriff Adedokun, Iyiola Osuagwu, and Sidney Egwuatu, Clea was created from the team’s own experiences dealing with unreliable international payments. The platform currently serves Nigerian importers trading with suppliers in the United States, China, and the UAE, with plans to expand into additional trade corridors.

Key features include:

• Local payments in Naira with instant access to USD
• Instant, same-day, or next-day settlement options
• Transparent, traceable transactions that reduce fraud risk

Speaking on the launch, Sheriff Adedokun, CEO and co-founder, said,

“Importers face unnecessary stress when payments are delayed or rejected. Clea eliminates that uncertainty by offering reliable, secure, and traceable payments completed in the importer’s own name, strengthening supplier confidence from day one.”

Iyiola Osuagwu, co-founder & CTO, added,

“Our goal is to make global trade feel as seamless as a local transfer. By connecting local currencies to global transactions through blockchain technology, we are removing long-standing barriers that have limited African importers for years.”

Clea is already working with shipping operators who refer merchants to the platform and is also engaging trade associations and logistics networks in key import hubs.

The company remains fully bootstrapped but is open to strategic investors aligned with its mission to build a trusted global payment network for African businesses.

Looking ahead, Sidney Egwuatu, co-founder & COO, said,

“The next phase for us is scale. We are expanding across all 36 Nigerian states, strengthening partnerships, and opening new payout routes across Africa and beyond. Our focus is building a dependable financial infrastructure that genuinely supports importer growth.”

The prestigious $1 million award that recognises companies expanding access to capital and financial services for small businesses in emerging and frontier markets, was presented at the Milken Institute Global Conference in Los Angeles on 5 May.

Verto’s winning platform enables businesses in emerging markets to seamlessly send and receive payments across borders, including exotic currencies in emerging markets.

By eliminating intermediary fees, supporting 49 currencies, and ensuring rapid transaction settlement in markets where this was not previously possible, Verto is helping businesses and SMEs in underserved markets access economic prosperity and greater financial inclusion.

The Milken-Motsepe Prize in FinTech, a $2 million initiative by the Milken Institute and the Motsepe Foundation, attracted over 3,000 entrepreneurs from 126 countries.

Verto emerged as the winner after a rigorous multi-stage evaluation process that assessed affordability and accessibility, ethical practices, scalability, technological innovation, and the potential for equitable financial access.

Launched in May 2024, the prize saw 400 initial applications narrowed down to 10 semifinalists who pitched their innovations at the Milken Institute Middle East and Africa Summit in Abu Dhabi in December 2024. Verto was selected as one of three finalists, ultimately claiming the Grand Prize.

“Winning the Milken-Motsepe Prize in FinTech validates our mission to break down barriers in cross-border payments but also provides us with the resources and recognition to accelerate our efforts in empowering businesses across emerging markets. It is a testament to the hard work and dedication of the entire Verto team,” says Ola Oyetayo, Verto CEO.

Dr. Precious Moloi-Motsepe, co-founder and CEO of the Motsepe Foundation, commented, “Across the African continent, technology and innovation are disrupting traditional finance and banking approaches. Investment in this space is profitable and, more importantly, necessary for financial inclusion. My heartfelt congratulations to the winners and all the finalists for demonstrating feasible and impactful solutions that will drive economic activity and shared prosperity in the global South, while influencing the financial sector all over the world.”

This FinTech prize marks the third award under the Milken–Motsepe Innovation Prize Program, which has awarded over $6 million to more than 50 innovators since 2021. Participating teams have collectively raised nearly ten times the Grand Prize in additional investments, impacting over 530,000 community members globally.

About Verto: Verto is a UK-based business-to-business cross-border payments platform that simplifies international transactions for businesses, particularly those in emerging markets. By offering fast, secure, and cost-effective payment solutions across 49 currencies, Verto empowers businesses to thrive in the global economy.