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How a Nigerian built a crypto company from an $11.12 allowance
Timilehin Zubair, a Computer Science student in Nigeria, embarked on a journey to financial independence with minimal resources. Starting with a small allowance, he founded Bitoshi, allowing users to seamlessly convert cryptocurrency to naira. Initially facing challenges due to regulatory restrictions on crypto transactions, Zubair adapted his business model and recently flourished after banking restrictions were lifted, reflecting the potential of crypto in Nigeria's financial landscape.
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Published 22 Aug 2026, 10:30 UTC8 min read
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Summary
TL;DR
- Timilehin Zubair founded Bitoshi from an $11 allowance as a student.
- Bitoshi allows users to send crypto and receive naira equivalent.
- The company grew significantly after the CBN lifted banking restrictions on crypto.
- Bitoshi transitioned from a WhatsApp hustle to a mobile app platform.
- The startup plans to scale as a financial access platform.
Interesting facts
- Bitoshi's name is a blend of Bitcoin and Satoshi Nakamoto.
- The company initially operated without conventional bank partnerships.
- Bitoshi's user base grew from 100 to over 10,000 in just two years.