General
Banker in Trouble for Failed Forex Transaction
By Aduragbemi Omiyale
A banker with one of the new generation financial institutions, Ms Ugwumba Evangeline, has landed in a hot pot of soup over her involvement in a failed foreign exchange transaction.
Ms Ugwumba, who is no longer on the payroll of her employers, had assured one Mr Daniel Igwe Onumah, that she could help him get the Dollar equivalent of about N14.1 million.
It was said that Mr Onumah paid the said amount into an account belonging to Yo-yo Oku Trading Ventures to be transferred to his foreign partners.
However, after the deposit, the operators of Yo-yo Oku Trading Ventures, who the former banker introduced to Mr Onumah, failed to transfer the funds to the foreign partners as earlier agreed or return the money to the owner.
This action prompted Mr Onumah to petition the Economic and Financial Crimes Commission (EFCC), which swung into action.
On Monday, February 24, 2021, the agency brought Ms Ugwumba and two other suspects; Onyekachi Christian Nwagbo and Chiwendu Okeke, before Justice E. N Anyadike of the Federal High Court sitting in Umuahia, Abia State.
According to the Port Harcourt Zonal Office of the EFCC, the accused persons conspired and obtained N14.1 million from the petitioner by false pretence, which the suspects denied by pleading “not guilty.”
One of the four-count charges against them read, “That you Ugwumba Evangeline, Onyekachi Christian Nwagbo, Chiwendu Okeke and Okparauwakwe Emmanuel Chigozie (now at large) on or about November 8, 2016, at Umuahia, Abia State within the jurisdiction of this court did conspire amongst yourselves to commit felony to wit; obtaining money by false pretence contrary to Section 8 (a) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006 and punishable under Section 1 (3) of the same Act.”
In view of their pleas, prosecuting counsel, E. K Ebipade prayed the court to fix a date for commencement of trial.
However, counsel to first defendant, M. O Eze, and counsel to second and third defendants, B. C. Ogu, both made oral applications for the bail of their clients.
Justice Anyadike granted the defendants bail in the sum of N2 million each and two sureties in like sum, who must be resident in Umuahia and Aba metropolis respectively.
Also, the sureties and defendants were ordered to deposit two recent passport photographs with the court and must show evidence of tax payment and must swear to an affidavit of means.
The judge adjourned the matter till April 5, 2021, and ordered the defendants to be remanded in Umuahia Custodial Centre, pending the perfection of their bail conditions.
General
NCC Arraigns Netnaija’s Emma Analike Over Alleged Copyright Infringement
By Modupe Gbadeyanka
The chief executive of Netnaija Media Enterprises, Mr Emmanuel Analike, has been arraigned before a Federal High Court sitting in Abuja by the Nigerian Copyright Commission (NCC).
The suspect appeared before Justice Suleiman Liman on Wednesday over allegations bordering on copyright infringement.
He was accused by the NCC of using his online platform to make movies and others not belonging to him available for users to download on the internet.
According to the agency, Mr Analike has infringed copies of audio-visual materials distributed online via his website for online users. Netnaija is an online movie and music download site.
The prosecution counsel, Ms Gladys Isaac-Ojo, who works with the NCC, told the court that the defendant committed an offence contrary to and punishable under Section 44 (1) (a) of the Copyright Act, 2022.
However, Mr Analike pleaded not guilty to the charges preferred against him, prompting his counsel, Nnemeka Ejiofor, seek his bail.
The lawyer informed the court that the application was filed on Monday and supported by 23 paragraphs of affidavits and a written address.
But the judge refused to give a bench ruling and adjourned the ruling of the bail application to Monday, March 9, 2026, ordering the remand of the Netnaija chief in Kuje Correctional Centre.
General
Entries Open for ClimateLaunchpad Green Business Ideas Competition
By Modupe Gbadeyanka
Entries for the 2026 edition of the world’s largest green business ideas competition, ClimateLaunchpad, have opened.
In 2025, the programme, organised by Climate KIC, received over 2,700 applications from 40 countries. The winning ventures gain prize money, investor connections, and access to a global cleantech network.
This year’s edition is expected to be bigger and better, with climate innovators, green venture builders, and entrepreneurs from around the world given the opportunity to apply.
Since its inception in 2014, the programme has supported nearly 5,000 ideas across 97 countries, and this year, it is expanding its presence in Asia with Singapore hosting both the regional final and global grand final for the first time.
Participants move through several stages, including an initial mini-course to refine the concept, an intensive multi-day Boot Camp led by expert trainers, targeted coaching to perfect value propositions and investor pitches, national and regional finals, and a place at the global grand final, with prizes and access to a global climate network.
“Strengthening ClimateLaunchpad’s presence in Asia marks a profound new chapter for this programme and for the climate innovation movement more broadly. Asia is where so much of the world’s climate and nature future will be shaped, through business leadership, public-private partnerships and long-term strategic thinking,” the chief executive of Climate KIC, Kirsten Dunlop, stated.
“We look forward to supporting this momentum with new business ideas and innovation ecosystem collaborations across more than a dozen countries.
“This expansion opens space for deeper cross-cultural connections and for first-time founders to turn sparks of imagination into solutions that serve both people and planet,” Dunlop added.
Also commenting, the chief executive of Better Earth Ventures, Ms Rebecca Sharpe, said, “We are proud to host ClimateLaunchpad’s regional and global grand final in Singapore and to convene an international group of climate entrepreneurs from more than 50 countries.
“Climate solutions are emerging from every corner of the world, and bringing them together creates the kind of cross-border exchange and collaboration this moment demands. Our focus is to ensure early-stage founders have the structure, ecosystem access and support needed to move from idea to credible impact.”
General
Nigeria Okays Alphanumeric Digital Postcode System to Boost Delivery
By Adedapo Adesanya
Nigeria has finally approved the use of an alphanumeric digital postcode system for the country, 17 years after it was first considered.
According to the Minister of Communications and Digital Economy, Mr Bosun Tijani, the system was okayed at the Federal Executive Council (FEC) meeting on Wednesday, chaired by President Bola Tinubu, in line with the ministry’s strategic blueprint.
He said working in collaboration with the Nigerian Postal Service (NIPOST), the ministry will introduce a modern, geospatially intelligent addressing system that improves accuracy across the country and enables faster and more reliable mail and parcel processing.
“Beyond strengthening postal operations, the Digital Postcode System will also serve as an important national enabler supporting better national planning, improved emergency response, more efficient logistics and e-commerce, and the delivery of government services.
“As our digital economy continues to grow, foundational systems such as this play an essential role in building the infrastructure required to connect people, businesses, and services more efficiently across the country,” he said.
He noted that the approval represents another step forward in the Mr Tinubu-led administration’s commitment to building the enabling environment to support a modern, inclusive, and globally competitive digital economy.
On her part, Ms Tola Odeyemi, the Post Master General and chief executive officer of NIPOST, said the implementation is a foundational step toward building the digital infrastructure required for a modern economy.
“First conceptualised in 2009, this initiative is finally becoming a reality in 2026 under the leadership of President Bola Tinubu and the Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani,” she wrote on X, formerly Twitter.
“A digital postcode system is more than a postal reform. It is critical national infrastructure that enables e-commerce, logistics, emergency services, financial inclusion, security, urban planning, and effective public service delivery,” she added.
By introducing an alphanumeric addressing framework, Nigeria will now be able to identify locations with far greater precision across cities, towns, and rural communities.
“This will significantly improve how goods, services, and digital platforms reach Nigerians everywhere.
“This milestone reflects a shared commitment by the Federal Government to strengthen Nigeria’s digital backbone and unlock new opportunities for innovation, commerce, and national development,” she further stated.
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