The acquisition of Nigerian payments infrastructure company Chimoney has officially closed, with all investors and team members paid out. Founder Uchi Nick Uchibeke will now focus on addressing a growing security challenge in artificial intelligence. The transaction involved 31 individuals and firms receiving proceeds, marking the end of Chimoney's current chapter. Uchibeke will pursue a new infrastructure venture focused on AI agent security. His experience at Chimoney, where he developed payment infrastructure supporting businesses across 41 currencies, will inform his new venture.
Uchibeke is building APort, a platform designed to introduce explicit permission controls for AI agents interacting with digital tools. APort aims to create a layer between an AI agent and the tools it can access, allowing organisations to define what the agent is explicitly permitted to do. This shifts the focus of AI security from access to authority. The need for such controls is becoming increasingly important as AI agents move deeper into business operations.
The distinction between access and authority is crucial, as AI agents can potentially initiate or modify transactions, or alter or deploy code. An agent connected to a payment platform could initiate transactions, while one connected to a software repository could alter code. APort will allow organisations to define what actions an AI agent is permitted to take. This is an extension of Uchibeke's experience at Chimoney, where he developed payment infrastructure.
The timing of APort's development is significant, as companies experiment with AI agents that can perform multi-step tasks across financial, software, and operational systems. Unlike conventional software automation, agentic systems can make decisions about the sequence of actions needed to complete a task. This increases the importance of clearly defined boundaries for AI agents.
APort builds on earlier work around the Open Agent Passport and the published APort Vault framework. The idea is that AI agents should carry explicit, verifiable permissions governing their actions. For businesses, the emerging security question is no longer simply how to authenticate an AI agent, but how to enforce limits on its authority.
The need for AI agent security controls is consequential when agents have access to systems where mistakes can create financial, operational, or security consequences. APort is currently inviting teams already deploying AI agents in financial workflows or code repositories to bring specific use cases forward for pilot discussions.
With Chimoney's acquisition now completed, Uchibeke is redirecting his attention from moving money across currencies to establishing safeguards around machines that increasingly have the ability to move it. His transition builds on his experience at Chimoney and addresses a growing concern in the industry.
Key points
- Chimoney's acquisition has closed, with all investors and team members paid out.
- Founder Uchi Nick Uchibeke is shifting focus to AI agent security with new platform APort.
- APort aims to introduce explicit permission controls for AI agents interacting with digital tools.
