General
Ventures Platform Advocates Creation of Inclusive Climate Fund
By Adedapo Adesanya
Early-stage venture capital fund, Ventures Platform, which invests in innovative startups across Africa, has called for the establishment of an inclusive climate innovation fund to support underrepresented groups in climate entrepreneurship.
This is part of recommendations made in its recently published climate tech whitepaper entitled Innovating for a Sustainable Future: Leveraging Venture Capital and Startup Innovation to Combat Climate Change in Africa.
The white paper outlines key goals, strategies, challenges, and ecosystem support needed to enhance the impact of African climate tech startups, providing a comprehensive guide for non-climate VCs and entrepreneurs in the technology sector. It also proposes a framework for a coordinated climate response in the African tech sector.
Formally launched at the recently held Africa Prosperity Summit in Lagos, the paper explores how the agility and innovation of startups, combined with the strategic deployment of venture capital, can catalyse the development and scaling of climate-smart solutions tailored to the specific needs and challenges of African communities and ecosystems.
Furthermore, the paper offers insights to climate tech startups on how to secure and maintain venture capital support, while providing an in-depth analysis of how venture capital and startup ecosystems can act as powerful engines of progress in the face of environmental adversity.
Other recommendations made include the need to develop Africa-specific metrics for measuring the success and impact of climate-focused startups, considering both environmental and socio-economic factors.
Since launching in 2016, Ventures Platform has funded over 90 startups, with at least one in every region of the continent and across various sectors including climate tech. Many of its startups are category leaders in fintech, healthtech, and insurtech, including Moniepoint, Mdaas Global and Tanel Health.
While not primarily a climate fund, Ventures Platform understands the importance of sustainable investments for long-term prosperity and has factored this into its investment guidelines by prioritising businesses that implement sustainable practices, reduce environmental impact and drive long-term ecological benefits.
Drawing from its learnings as a key player in Africa’s tech ecosystem and from broader research, Ventures Platform has published this climatetech white paper to better equip non-climate Venture Capitalists (VCs) and startups with insights and tools to support Africa’s climate resilience through strategic investments and operational choices.
The fund also called for the facilitation of cross-border collaborations between different types of VCs through networking events, joint investment programmes, and knowledge-sharing platforms.
According to the United Nations, Africa contributes under 4 per cent of the global greenhouse gas emissions yet suffers disproportionately from climate change.
Ventures Platform, through the white paper, proposed a simplified framework focusing on adaptation, mitigation and enablers, to guide the African VC and startup ecosystem in addressing climate challenges.
It examined that adaptation strategies include developing climate-resilient infrastructure and agricultural practices. Mitigation efforts focus on reducing greenhouse gas emissions through renewable energy adoption and sustainable land use while ‘enablers’ encompass financing mechanisms, policy frameworks, educational programs, and technological innovations.
It also recommended the conduction of sector-specific climate opportunity assessments to identify and prioritise high-potential sectors for climate innovation in Africa.
Presenting the white paper at the Africa Prosperity Summit, Mr Dotun Olowoporoku, Managing Partner, Ventures Platform, shared, “African VCs often prioritise impact and livelihoods along with traditional metrics, but there is an urgent need to focus on climate-resilient business models”
Mr Olowoporoku also noted that climate change poses formidable threats with potential for severe impacts across multiple sectors, and noted that,”building climate-resilient business models can unlock business, societal and environmental sustainability.”
“As Venture Capitalists, we can drive change in Africa’s climate action by providing funds, encouraging innovation, and scaling climate-smart solutions. Startups like MAX, Rana Energy, and ThriveAgric, which were recognised in the 2024 TIME 100 Climate list, show how tech-driven solutions can address local issues and help global climate efforts.
“At Ventures Platform, we are deeply committed to investing in companies that are not only commercially successful but also actively contribute to solving some of society’s collective challenges”.
Commenting further on the landmark paper, Mr Dolapo Morgan, Senior Investment Associate at Ventures Platform, shared, “Africa is at the receiving end of the world’s climate disaster and it is important for us to turn this challenge into opportunities. It is time for entrepreneurs to focus on building climate-resilient business models for long-term sustainability while creating innovative climate solutions to tackle climate challenges.
“We are already beginning to see some startups and investors move in this direction and that is a good start. This white paper is a call for a coordinated African response towards scaling the opportunities that climate change presents to our technology sector, emphasizing the pivotal role non-climate funds can play in complementing and amplifying the efforts of climate-focused investments,”
By Adedapo Adesanya
The new chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, has assumed office with a clear message to advance the country’s upstream oil and gas sector in line with the mandate of the commission as enshrined in the Petroleum Industry Act (PIA) 2021.
According to a statement signed by Mr Eniola Akinkuotu, the Head of Media & Strategic Communications at the upstream regulator, the NUPRC boss made this assertation during her first town hall meeting with management and staff on Tuesday December 23, 2025.
She further disclosed plans to make the commission a business enabler and re-ignite investments in the upstream sector.
Recall that President Tinubu nominated Mrs Eyesan to take over the NUPRC after the abrupt resignation of her predecessor, Mr Gbenga Komolafe as well as his counterpart in the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed.
In her new capacity, Mrs Eyesan also set a firm production ambition of growing Nigeria’s output and increasing gas production.
“The goal is that we must enable the industry, we are regulators. We must enable the industry from our interactions with the stakeholders, from our interactions with everybody.
“My main objective is to ensure that we make a difference. I believe the NUPRC is at the Center of the industry,” she said.
The commission boss who has served for over three decades in the oil and gas sector, promised to entrench digitisation, transparency and efficiency in operations.
The NUPRC head said with the support of staff and management, the NUPRC will become the gold-standard regulator in Africa. She also promised capacity development, stronger technical depth and sustained engagement with stakeholders, unions and professional teams.
On leadership style, Mrs Eyesan promised an open-door policy and frequent staff engagement, while also soliciting for support and cooperation as the industry embarks on the next phase of transformation.
“If we work together we can unleash opportunities, I don’t see impediments only opportunities,” she added.
By Adedapo Adesanya
President Bola Tinubu has called on Nigerians to embrace religious tolerance, peace, and unity, urging citizens of all faiths to reject violence and intolerance amid ongoing security challenges across the country.
In his 2025 Christmas goodwill message issued on Wednesday by his Special Adviser on Information and Strategy, Mr Mr Bayo Onanuga, the President emphasised that no Nigerian should suffer discrimination or violence because of their religious beliefs, reaffirming his administration’s commitment to safeguarding freedom of worship and national cohesion.
“As your President, I remain committed to doing everything within my power to enshrine religious freedom in Nigeria and to protect all people of different faiths from violence,” Mr Tinubu said, noting that all Nigerians have the constitutional right to live, worship, and pursue their aspirations in safety and dignity.
The President acknowledged growing concerns around religious intolerance and insecurity, revealing that he had engaged extensively throughout the year with leaders of Nigeria’s two major faiths.
In the last few months, the country faced a spate of attacks including kidnapping of school children and armed terror, involving the death of a high ranking army personnel.
He also said the government would continue to build on these engagements to strengthen collaboration with religious institutions, prevent conflict, and promote peaceful coexistence.
President Tinubu described Christmas as a period for reflection on the message of Jesus Christ as the Prince of Peace, urging Nigerians to draw inspiration from values of love, compassion, and goodwill that cut across all major religions.
He commended Christians in Nigeria for their contributions to national development, particularly their role in caring for the vulnerable and promoting harmony within communities.
“The love for God and love for humanity is at the heart of all the great faiths. These shared values must continue to bind us together as one indivisible and resilient people,” he said.
Reiterating his administration’s stance on security, the President said the government’s commitment to protecting Nigeria’s unity and stability has remained unwavering since he assumed office in 2023. He stressed that the state would not tolerate violence targeted at any group on the basis of ethnicity or belief.
President Tinubu also appealed to Nigerians travelling during the festive season to exercise patience and discipline on the roads, wishing them safe journeys and returns.
Expressing optimism about the country’s future, the President said that with faith in God and collective resolve, Nigeria would overcome its challenges and build a nation that future generations would be proud of.
He concluded by wishing Christians in Nigeria and around the world a Merry Christmas and Nigerians a happy New Year in advance.
By Adedapo Adesanya
The federal government has filed 16 alleged money laundering charges, to the tune of N1.014 billion, against a former Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami (SAN), and his son, Mr Abubakar Abdulaziz Malami, before the Federal High Court in Abuja.
Also listed as a co-defendant in the case is Hajia Bashir Asabe.
According to the charge, the government is accusing Mr Malami, his son, and others of being involved in the laundering and concealment of N1,014,848,500.00 allegedly traced to a commercial bank.
In the 16 charges, the Nigerian government alleged that between July 2022 and June 2025, within Abuja and the jurisdiction of the court, the defendants procured Metropolitan Auto Tech Limited to conceal the unlawful origin of the money.
The charge alleges, in part, that the defendants used the company as a front to conceal the origin and movement of the funds, an act the government says constitutes money laundering under Nigerian law.
The alleged offence is said to be contrary to Section 21(c) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 18(3) of the same Act.
The 16 charges reveal how Malami allegedly engaged Metropolitan Auto Tech Limited to launder funds.
The charges are as follows:
“That you Abubakar Malami SAN, and Abubakar Abdulaziz Malami between July 2022 and June, 2025 in Abuja within the jurisdiction of this Honourable Court did procure Metropolitan Auto Tech Limited to conceal the unlawful origin of the total sum of N1, 014, 848, 500.00 (One Billion, Fourteen Million, Eight Hundred and Forty Eight Thousand, Five Hundred Naira) in the Sterling Bank Plc Account No. 0079182387 when you reasonably ought to have known that the said sum formed proceeds of unlawful activities and you thereby committed an offence contrary to Section 21(c) of the Money Laundering (Prevention and Prohibition) Act 2022 and punishable under Section 18(3) of the same Act.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation, and Abubakar Abdulaziz Malami between September 2020 and February, 2021in Abuja within the jurisdiction of this Honourable Court did procure Metropolitan Auto Tech Limited to conceal the unlawful origin of the total sum of N600,013,460.4 in the Sterling Bank Plc Account No. 0079182387 when you reasonably ought to have known that the said sum formed proceeds of unlawful activities and you thereby committed an offence contrary to Section 18(c) of the Money Laundering Prohibition Act 2011 as amended by Act No. 1 of 2012) and punishable under section 15(3) of the same Act
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation and Abubakar Abdulaziz Malami sometime in March, 2021 in Abuja within the jurisdiction of this Honourable Court did retain the total sum of N600,000,000.00 in Metropolitan Auto Tech Limited as cash collateral for a loan of N500,000,000.00 granted to RAYHAAN HOTELS LTD by Sterling Bank Plc when you reasonably ought to have known that the said cash collateral of N600,000,000.00 was proceed of unlawful activities and you thereby committed an offence contrary to Section 18(c) of the Money Laundering Prohibition Act 2011 as amendedpunishable under section 15(3) of the same Act
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation, Abubakar Abdulaziz Malami, and Hajia Bashir Asabe an employee of Rahamaniyya Properties Limited sometime in November, 2022 in Abuja within the jurisdiction of this Honourable Court did indirectly disguise the unlawful origin of the aggregate sum of N500,000,000.00 paid to Efab Properties Ltd paid for purchase of property known as luxury duplex at Amazon street, Plot No. 3011 within Cadastral Zone A06 Maitama District, Abuja in favour of Abubakar Malami SAN when you reasonably ought to have known that the said N500million formed proceed of unlawful activity and you thereby committed an offence contrary to section 18(2) (a) and punishable under section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
“That you Abubakar Malami SAN, Abubakar Abdulaziz Malami, and Hajia Bashir Asabe an employee of Rahamaniyya Properties Ltd sometimes in September 2024 in Abuja within the jurisdiction of this Honourable Court conspired to disguise the unlawful origin of the aggregate sum of N1,049,173,926.13 paid through the Union Bank Plc account of Meethaq Hotels Ltd Jabi savings Account No. 0179011105 between November 2022 and September 2024 and you thereby committed an offence contrary to Section 21 of the Money Laundering (Prevention and Prohibition Act) 2022 and punishable under Section 18(2) (a) and (3) of the same Act.
“That you Abubakar Malami SAN, and Abubakar Abdulaziz Malami between November 2022 and October, 2025 indirectly took control of the aggregate sum of N1,362,887,872.96 paid through the savings account of Meethaq Hotels Limited in Union Bank Plc when you reasonably ought to have known that the said funds formed proceeds of unlawful activity and you thereby committed an offence contrary to Section 18(2) (d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation and Hajia Bashir Asabe an employee of Rahamaniyya Properties Ltd sometimes between November and December, 2018 in Abuja within the jurisdiction of this Honourable Court indirectly concealed the unlawful origin of the aggregate sum of N700,000,000.00 paid for the purchase of the property described as No. 3 Onitsha Crescent Area 11, Garki Abuja (Hamonia Hotels Ltd) in favour of Abubakar Malami SAN when you reasonably ought to have known that the said sum of N700, 000,000.00formed proceeds of unlawful activityand you thereby committed an offence contrary to section 15(2) (d) and punishable under section 15(3) of the Money Laundering (Prohibition) Act, 2011 as amended.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation, Abubakar Abdulaziz Malami and Hajia Bashir Asabe an employee of Rahamaniyya Properties Ltdsometimes between September 2020 and December, 2020 in Abuja within the jurisdiction of this Honourable Court, indirectly concealed the aggregate sum of N850,000,000.00 paid for the purchase of property described as Plot 683 Jabi District Cadastral Zone B04 (Meethaq Hotels Ltd, Jabi) when you reasonably ought to have known that the said sum of N850, 000, 000.00 represented proceeds of unlawful activity and you thereby committed an offence contrary to Section 15(2) (d) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 as amended.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation and Hajia Bashir Asabe an employee of Rahamaniyya Properties Limited on or about February, 2018 in Abuja within the jurisdiction of this Honourable Court indirectly acquired the property described as No. 3 Rhine Street Maitama, Abuja (Meethaq Hotels Ltd) for an aggregate sum of N430,000,000.00 when you reasonably ought to have known that the said sum of N430,000,000.00 formed proceeds of unlawful activity and you thereby committed an offence contrary to Section 15(2) (d) and punishable under Section 15(3) of the Money Laundering (Prohibition) Act, 2011 as amended.”
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation and Hajia Bashir Asabe an employee of Rahamaniyya Properties Ltd sometimes on or about February, 2018 in Abuja within the jurisdiction of this Honourable Court indirectly concealed the unlawful origin of the aggregate sum of N210,000,000.00 paid for the purchaseof the property described as No. 3130 Cadastral Zone A04 Asokoro District, Abuja in favour of Abubakar Malami SAN when you reasonably ought to have known that the said sum of N210, 000, 000,000.00 represented proceeds of unlawful activity and you thereby committed an offence contrary to section 15(2) (d) and punishable under Section 15(3) of the Money Laundering ( Prohibition) Act, 2011 as amended.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation and Hajia Bashir Asabe an employee of Rahamaniyya Properties Ltd between March and June 2021 in Abuja within the jurisdiction of this Honourable Court indirectly concealed the unlawful origin of the aggregate sum of N325,000,000,000.00 paid for the purchase of property described as No. 1241B Asokoro District Zone (No. 11A Yakubu Gowon Crescent Asokoro) in favour of Abubakar Malami SAN when you reasonably ought to have known that the said sum of N325, 000, 000.00 represented proceed of unlawful activity and you thereby committed an offence contrary to section 15(2) (d) and punishable under section 15(3) of the Money Laundering ( Prohibition) Act, 2011 as amended.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation and Hajia Bashir Asabe an employee of Rahamaniyya Properties Ltd between November 2015 and January, 2016 in Abuja within the jurisdiction of this Honourable Court indirectly concealed the unlawful origin of the aggregate sum of N120,000,000,000.00 paid for the purchase of property described as No. 27 Efab Estate 5th Avenue, 59th Crescent, Gwarimpa, Abuja in favour of Abubakar Malami SAN when you reasonably ought to have known that the said sum of N120, 000, 000.00 represented proceeds of unlawful activity and you thereby committed an offence contrary to section 15(2) (d) and punishable under section 15(3) of the Money Laundering ( Prohibition) Act, 2011 as amended.
“That you Abubakar Malami SANwhilst being the Attorney-General of the Federation, Abubakar Abdulaziz Malami, and Hajia Bashir Asabe an employee of Rahamaniyya Properties Ltd sometime in November, 2022 in Abuja within the jurisdiction of this Honourable Court did conspire amongst yourselves to conceal the unlawful origin of the funds paid for the purchase of property known as luxury duplex at Amazon street, Plot No. 3011 within Cadastral Zone A06 Maitama District, Abuja and you thereby committed an offence contrary to Section 21 of the Money Laundering (Prevention and Prohibition Act) 2022 and punishable under Section 18(2) (a) and (3) of the same Act.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation, Hajia Bashir Asabe whilst being an employee of Rahamaniyya Properties Ltd and other persons at large between December, 2016 and April, 2022 in Abuja within the jurisdiction of this Honourable Court conspired amongst yourselves to indirectly acquire landed properties for Abubakar Malami SAN with proceeds of unlawful activity and you thereby committed an offence contrary to section 18 of the Money Laundering (Prohibition Act) 2011 and punishable under Section 15(2) (a) and (3) of the same Act.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation, between June and January, 2023in Abuja within the jurisdiction of this Honourable Court indirectly concealed the unlawful origin of the aggregate sum N537,000,000.00 which you paid for the purchase of the properties namely (i) No. 26 Babbi Street, BUA Estate, Abuja, (ii) 4 bedroom Bungalow, Guesse 2 Brinin- Kebbi and (iii) No. 4 Ahmadu Bello Way, Kano, Nassarawa GRA, Kano knowing that the said sum of N537, 000,000.00formed proceeds of unlawful activity and you thereby committed an offence contrary to section 18(2) (a) and punishable under section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
“That you Abubakar Malami SAN whilst being the Attorney-General of the Federation, between October 2018 and December, 2021 in Abuja within the jurisdiction of this Honourable Court indirectly concealed the aggregate sum N415,000,000.00 which you paid for the purchase of the properties namely (i) No. 28 Bagudu Kaltio crescent Gwarimpa, Abuja (ii) Plot 13, Ipent 7 Estate Abuja and (iii) A Plaza, Commercial Toilets, Laundry and Warehouse Tanks Adjacent to Brinin Kebbi Market (iv) 100 hectares of land Along Brinin Kebbi, Jeba Road (v) Plot 157 Lamido Crescent, Nassarawa Road GRA, Kano knowing that the said sum of N415,000,000.00 formed proceeds of unlawful activity and you thereby committed an offence contrary to Section 15(2) (a) and punishable under Section 15(3) of the Money Laundering Prohibition Act, 2011 as amended.”
Mr Malami served as Attorney-General and Minister of Justice from 2015 to 2023 under the administration of former President Muhammadu Buhari.
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