Startup Loot Box

Nigerian Open Banking Startup Okra Quietly Shut Down In May 2025

Inside the Loot – Okra: From Open Banking Hope to Quiet Shutdown
At one point, Okra was the pride of African fintech. Backed by $16 million in global funding, it promised developers across Nigeria a single API to access financial data, Africa’s answer to Plaid.

By May 2025, the dream had come to an end.

No tweet, no blog post. Just silence. Sources told Techpoint the team was informed that both Okra and its cloud spin-off Nebula were being shut down. Co-founder Fara Ashiru Jituboh had already stepped away, now head of engineering at UK startup Kernel.

What killed it? Not a product flaw. Learn more: https://startuplootbox.beehiiv.com/p/startup-stories-you-won-t-read-on-techcrunch-this-week-s-breakdown