General
AfDB Empowers African Women Businesses with $7bn
By Adedapo Adesanya
The African Development Bank Group (AfDB) has announced the approval of a new Gender Equality Trust Fund (GETF), aimed at pushing forward gender equality and women’s empowerment across the continent.
The fund is worth $7 billion and will see a first tranche of up to $2 billion given to the beneficiaries in credit, with a further $5 billion. The fund is purely to support women-empowered businesses in Africa.
The AfDB, in a statement over the weekend, explained that the GETF, which was funded by donors, would support the delivery and scale-up of the Bank’s Affirmative Finance Action for Women in Africa (AFAWA) programme and promote gender transformative lending and non-lending operations.
According to the bank, the GETF, which is the first thematic fund on gender in its history, is to run for an initial period of 10 years and was aimed at pushing forward gender equality and women’s empowerment across the continent.
The statement reads, “The Africa Guarantee Fund (AGF) has been chosen as the first implementing partner to facilitate access to finance for women-owned small and medium-sized enterprises (SMEs).
“AGF is a Pan-African entity that provides financial institutions with guarantees and other financial products to support SMEs in Africa.
“AGF has a network spread out over 42 African countries and 150-plus financial institutions, which AFAWA will leverage.
“This first transaction is expected to unlock up to $2 billion in credit for women empowered businesses across the continent.”
The bank further explained that AFAWA is its flagship pan-African initiative which aims to bridge the $42 billion financing gap facing women in Africa, adding that through AFAWA, the Bank is spearheading a major push to unlock women’s entrepreneurial capacity and economic participation for maximum development impact.
According to the AfDB, anchor investors in the GETF are the governments of France, the Netherlands and the United Kingdom. The bank also added that apart from the G7 donors and the Netherlands, other countries are showing strong interest in contributing to the initiative, including Rwanda and Sweden.
The AfDB said it would continue to mobilize resources in order to unlock $5 billion worth of financing for women-empowered businesses in Africa, especially as AFAWA is also an implementing partner of the Women Entrepreneurship Finance (We-Fi) Initiative.
Speaking on the development, President of the AfDB, Mr Akinwumi Adesina, said, “It’s a great day for us as a bank.
“It is a great day for the continent and the women of Africa as this facility provides innovative ways to tackle the access to finance challenges for African women business owners.”
By Adedapo Adesanya
The Ebonyi State Police Command has insisted on conducting a post-mortem examination to determine the cause of death of Miss Mary Habila, a physiotherapist who died at the residence of the Minister of Works, Mr David Umahi, in Uburu, Ohaozara Local Government Area of Ebonyi State.
The demise of the deceased, which occurred in late June, recently became public and has sparked calls for a probe from many quarters.
Meanwhile, the family of the deceased has approached the court to stop the autopsy, but experts tell Business Post that the family has no authority to file an affidavit, as this is a case of suspected murder against the state and not the family.
Mr Umahi has also called for a probe.
The Ebonyi Police Command said the autopsy was necessary to establish the cause of death and support its ongoing investigation, despite objections from the deceased’s family.
The Police Public Relations Officer (PPRO), SP Joshua Ukandu, disclosed this in a statement issued on Wednesday, stating that the police had commenced a comprehensive investigation into the circumstances surrounding Ms Habila’s death.
Mr Ukandu said preliminary investigations revealed that the deceased and a colleague were members of the medical team attached to the Minister of Works and had accompanied him to his hometown in Uburu, where she later died in a room within the compound of his residence.
According to him, detectives from the State Criminal Investigation Department (SCID) have visited the scene, documented relevant evidence and obtained statements from persons connected to the incident.
He added that the command had concluded arrangements to engage a qualified pathologist to carry out a post-mortem examination, which it considers crucial to determining the actual cause of death.
Mr Ukandu explained that the police became involved in the matter after receiving a distress call on June 27, 2026, from the Divisional Police Officer (DPO), Ohaozara Division, informing the command of a medical emergency involving Habila and requesting his presence at the David Umahi Federal Teaching Hospital, Uburu.
“On arrival, the DPO was informed by hospital authorities that Miss Mary Habila had been brought in dead.
He immediately briefed the Commissioner of Police, who directed that the matter be transferred to the State Criminal Investigation Department (SCID) for thorough investigation,” the statement read.
The police spokesperson disclosed that while the family of the deceased had opposed the conduct of an autopsy, the command considered the procedure necessary in view of the circumstances surrounding the death.
“The Command therefore awaits the attendance of the family or their duly appointed representative, as their presence is essential to the conduct of the post-mortem examination,” Mr Ukandu said, assuring the public that the investigation would be conducted professionally, transparently and without bias, stressing that every necessary step would be taken to uncover the circumstances surrounding Habila’s death.
Mr Ukandu further assured that the command would continue to provide updates as the investigation progresses.
Family Seeks to Stop Autopsy
The family of the deceased, who is a staff member of the David Umahi Federal University of Medical Sciences and was seconded to the Federal Ministry of Works, formally requested the withdrawal of further investigation into her death and declined an autopsy.
In an affidavit titled Affidavit of Withdrawal of Case filed before the High Court of Justice of Ebonyi State, her father, Tanko Habila Wisdom, said the family was not alleging any foul play in her death and wished to proceed with her burial.
According to the affidavit, Mary Habila died on June 27, 2026, in Uburu, Ohaozara Local Government Area of Ebonyi State.
The deponent stated that before her death, Habila was a staff member of the David Umahi Federal University of Medical Sciences and had been seconded to the Federal Ministry of Works in Mabushi, Abuja, where she served in the Office of the Minister of Works for about three years.
By Adedapo Adesanya
A Federal High Court in Apo, Abuja, has ordered the final forfeiture of billions of Naira worth of assets linked to businesswoman and socialite, Ms Aisha Achimugu, to the federal government.
Justice Jude Onwugbuzie granted the order following an application by the Economic and Financial Crimes Commission (EFCC), directing the permanent forfeiture of jewellery valued at N4.645 billion, 11 exotic vehicles worth N4.293 billion, $50,000 and N30 million in cash.
The ruling followed the EFCC’s request for the final forfeiture of the assets, which the commission said were linked to Ms Achimugu.
The forfeited assets include: Jewellery valued at N4,645,170,294.90; 11 exotic vehicles worth N4,293,000,000; $50,000 in cash; and N30,000,000 in cash.
The court’s judgment vests ownership of the assets in the federal government, bringing the forfeiture proceedings to a close.
In March, Justice Emeka Nwite of the Federal High Court in Abuja affirmed the final forfeiture of $13 million linked to the Lagos socialite. However, in an interview in April, she denied that $13 million was discovered by the EFCC in her residence, describing the claim as inaccurate and misleading.
Justice Nwite had, on August 22, 2025, granted the anti-graft agency’s motion ex parte for an interim order forfeiting the sum of $13 million linked to Oceangate Ltd to the federal government over allegations that the fund was proceeds of unlawful activity.
The judge had then directed the commission to publish the order in a national daily for interested people to show cause within 14 days why the fund should not be permanently forfeited to the federal government.
In 2024, the businesswoman gained significant media attention for a seven-day birthday celebration in Grenada, which was attended by high-profile guests, reportedly including Lagos State Governor Babajide Sanwo-Olu.
The socialite also defended her widely publicised birthday celebration, noting that it had been “planned for 10 years” and was not funded with any money under investigation.
By Adedapo Adesanya
To boost fertiliser production, strengthen food security and advance Nigeria’s domestic gas utilisation agenda, Renaissance Africa Energy Company Limited has signed a 16-year Gas Sale Agreement (GSA) with Indorama Fertiliser FZE for the supply of up to 60 million standard cubic feet of natural gas per day from the Assa North Ohaji South (ANOH) Gas Processing Facility.
The agreement was signed by the chief executive of Renaissance, Mr Tony Attah, and Indorama’s counterpart, Mr Manish Mundra, with both executives describing the deal as a significant milestone in advancing Nigeria’s domestic gas utilisation agenda, industrial development, and agricultural growth aspirations.
“This agreement reflects our commitment to unlocking the value of Nigeria’s abundant gas resources through partnerships that create real and lasting impact,” Mr Attah said, adding: “By supplying natural gas to a major fertiliser producer such as Indorama, we are supporting a value chain that is critical to food security, agricultural productivity, industrial growth, and economic development.”
The agreement will provide Indorama Fertiliser with a secure and reliable source of natural gas to support uninterrupted production and enable the company to meet growing domestic and regional demand for fertiliser products.
The resulting increase in fertiliser availability is expected to contribute to improved crop yields, enhanced agricultural productivity, and strengthened food security across Nigeria and Africa.
Commenting on the agreement, Mr Mundra said the deal was an important milestone for the company in its ambition of supporting Nigeria’s agricultural transformation agenda.
“Reliable access to natural gas is fundamental to fertiliser production, and this long-term arrangement provides a strong foundation for sustainable operations and future growth,” Mr Mundra said. “We appreciate the partnership with Renaissance and look forward to leveraging this collaboration.”
The transaction aligns closely with Nigeria’s Decade of Gas initiative and further demonstrates the strategic role of natural gas in driving industrialisation, supporting manufacturing, enhancing energy security, and enabling economic diversification.
