General
BoI, GIZ to Drive Enterprise Growth, Boost Climate Resilience
By Modupe Gbadeyanka
A partnership framework agreement designed to drive sustainable innovation and economic development for large enterprises, and Micro, Small and Medium Enterprises (MSMEs) sector in Nigeria has been signed by the Bank of Industry (BoI) and the German Agency for International Cooperation (GIZ).
Both parties put pen to paper on Wednesday, April 15, 2026, positioning them to mutually ensure that capacity building efforts for businesses focuses on strengthening the technical and institutional capabilities of BoI’s Business Development Service Providers (BDSPs), equipping them to deliver higher-impact advisory services to the bank’s customers; as well as enshrine a structured vocational training provided under the ICSS (Inspire, Create, Start and Scale) entrepreneurship programme to enhance productivity, workforce quality and overall business competitiveness to MSMEs.
Through this deal, there will be coordinated interventions across key strategic pillars, including access to finance, entrepreneurship development, capacity building, and market access; and integrates focused support for climate finance and renewable energy investments; and a robust alignment with global sustainability priorities that enables MSMEs to be engines of economic development.
“This partnership is about closing the gap between enterprise potential and enterprise reality. Too many Nigerian businesses, particularly MSMEs, have the ideas, the drive, and the market opportunity, but lack the financing, technical capacity, or market access needed to scale,” the chief executive of BoI, Mr Olasupo Olusi, said.
“This partnership reflects our unwavering commitment to constantly form new partnerships to strengthen the entrepreneurial ecosystem in Nigeria.
“By combining our financing expertise with our partner’s international development experience, we are building a comprehensive framework that will directly translate into jobs, innovation, affordable, long-term financing and sustainable growth for MSMEs in Nigeria,” he added.
In his remarks, the Country Director for GIZ Nigeria and ECOWAS, Mr Magnus Wagner, said, “This partnership demonstrates our joint commitments to strengthening Nigeria’s private sector and to advancing sustainable and inclusive economic growth. Through this partnership, we aim to support small and medium enterprises.
“We are trying more to look at SME, formalised business, which is the resilient backbone of Nigeria’s economy. So, we would like to work, we have decided in areas such as climate and sustainable finance, renewable energy and energy efficiency, entrepreneurship and innovation, women’s economic empowerment, agribusiness and rural transformation, and digital trade and market access.
“We look forward to a close and successful collaboration with the Bank of Industry, one that delivers tangible results for business, communities, and the country and the population as a whole.”
General
Court Orders Seizure of Nine Properties Linked to Wanted Timipre Sylva
By Adedapo Adesanya
A federal high court in Abuja has ordered the interim forfeiture of nine properties linked to Mr Timipre Sylvia, former minister of state for petroleum resources, to the federal government.
Justice Obiora Egwuatu, the presiding judge, made the order on April 24 following an ex parte application filed by the Economic and Financial Crimes Commission (EFCC).
“An interim order of this honourable court is made forfeiting the properties listed in the schedule attached herein, being properties suspected to be proceeds of some unlawful activities pending the publication and hearing of the motion on notice for final forfeiture order of the said properties,” the judge ruled.
“An order of this honourable court is made directing the publication of the interim order under order (1) above for anyone who is interested in the property to appear before this honourable court to show cause within 14 days why the final order of forfeiture should not be made in favour of the Federal Government of Nigeria.”
The judge also granted the anti-graft’s request for the order to be published in two national newspapers within seven days of receiving the certified true copy of the ruling.
The newspapers listed by the court include ThisDay, The Guardian, Punch, Vanguard, Tribune and Independent.
Justice Egwuatu subsequently adjourned the matter to May 25 for a report of compliance.
The EFCC had filed the suit marked FHC/ABJ/CS/607/2026 under the Advance Fee Fraud and Other Related Offences Act, 2006.
While moving the motion, Mr Oluwaleke Atolagbe, counsel to the anti-graft agency, urged the court to grant an interim forfeiture order on the grounds that the properties were suspected to be proceeds of unlawful activities.
The affected properties are located in high-value areas of Abuja.
They include four blocks of terraces in Dakibiyu; a duplex with a penthouse and office complex at No. 3 Niger street, M street; a standalone duplex at Villa 1, Unit 1, Palm Springs estate, Mpape; and a block of 10 flats at No. 8 Sefadu street, Wuse Zone 4.
Others are a six-unit block of flats at No. 1 Mubi Close, Garki; two blocks containing 12 flats at Plot 1181, Thaba Tseka Crescent, Wuse II; and a standalone duplex at No. 18 Nile Lake, Plot 1271, Maitama.
The ninth property is a two-block building located at No. 5 Aguta Street, Garki, Abuja, currently occupied by the National Information Technology Development Agency (NITDA).
Mr Sylva, who is also a former governor of Bayelsa State, is currently at large. He is named in a 13-count charge filed by the federal government over allegations of a plot to oust President Bola Tinubu.
General
Navy Warns of Intense Crackdown on Maritime, Oil Theft
By Adedapo Adesanya
The Nigerian Navy has issued a strong warning to maritime criminals, reaffirming its resolve, capability, and commitment to ending crude oil theft and securing the nation’s maritime domain.
Speaking at the flag-off of Exercise Fleet Sentinel, the Chief of Naval Safety and Standards, Rear Admiral Pakiribo Anabraba, who represented the Chief of Naval Staff, Vice Admiral Idi Abbas, described the exercise as a significant milestone in efforts to strengthen the Navy’s operational capability.
Rear Admiral Anabraba explained that the exercise is aimed at assessing the operational state and combat readiness of the Navy in addressing emerging maritime threats, in line with its constitutional mandate.
“This exercise will significantly enhance the Nigerian Navy’s capacity to effectively conduct fleet operations and other maritime tasks. It provides an invaluable opportunity for practical training, enabling participating units to rehearse procedures, validate operational concepts, and sharpen their tactical responses in realistic environments,” he said.
Also speaking, the Flag Officer Commanding Central Naval Command, Rear Admiral Suleiman Ibrahim, said the joint exercise, conducted in collaboration with the Eastern and Central Naval Commands, is designed to curb crude oil theft, dismantle illegal refining networks in the Niger Delta, and ensure a safe maritime environment for commercial activities.
Rear Admiral Ibrahim noted that in an era of evolving and asymmetric maritime threats, the Navy must remain fully prepared to support national and regional maritime security initiatives of the federal government.
He added that the exercise reflects the Navy’s resolve to maintain constant vigilance, noting that the term “Sentinel” symbolises a steadfast guardian, ever alert and ready to defend.
According to him, the exercise is structured to enhance cooperation and coordination among participating ships and units, while improving proficiency in maritime operations.
He also stated that it builds on lessons learned from Exercise Obangame Express 2026, recently conducted within the Eastern Naval Command’s area of responsibility, ensuring continuity in training and sustained performance improvement.
The two-day exercise featured a series of tactical operations involving naval assets and platforms, designed to test operational readiness, enhance interoperability, and strengthen joint capabilities.
The initiative is part of ongoing efforts to curb crude oil theft and bolster security within Nigeria’s maritime domain.
General
Customs Area 11 Command Drives Generates N77bn in April
By Bon Peters
Over N77 billion was generated as revenue in April 2026 by the Nigeria Customs Service (NCS) Area 11 Command in Onne, Port Harcourt, Rivers State.
This landmark feat in the command’s fiscal operations signals a new era of economic prosperity and administrative efficiency.
The revenue generated last month was 70.2 per cent higher than the amount collected in the same month of last year, according to a statement issued by the command’s acting spokesman, Mr Paul Istifanus Gimba, an Assistant Superintendent of Customs I.
This feat was attributed to the strategic and visionary leadership of the command’s area controller, Comptroller Aliyu Mohammed Alkali.
On innovation, the command has integrated modern technologies and cutting-edge logistics management, consolidating and strengthening existing protocols and building upon previous successes to create a sustainable economic environment.
The statement emphasised that, “By embracing these principles, the Area 11 Command has transformed into a critical hub for national revenue optimisation, ensuring that the federal government’s fiscal goals are not only met but consistently surpassed.”
It added that the core pillars of success under Comptroller Alkali, since assuming leadership, were the implementation of a rigorous operational strategy designed to maximise the command’s potential and commitment centred on core areas of Simplification and Trade Facilitation.
The statement further posited that in an effort to foster a business-friendly environment, the command has focused heavily on the simplification of procedures by identifying and removing bureaucratic bottlenecks, noting that the Command has significantly reduced delays in cargo clearance, insisting that such a streamlined approach has not only benefited importers and exporters but also accelerated the “ease of doing business” within the maritime sector.
On performance and target optimisation, the command has moved beyond mere compliance to a culture of excellence and by building on past successes, the administration has ensured that revenue targets were viewed as minimum benchmarks rather than ultimate goals.
It also stated that behind the record-breaking revenue generation lies a workforce characterised by dedication and professionalism, as Comptroller Alkali lauded the officers and men of the command for their commitment to duty, even as the Onne Customs boss emphasised that the achievement of April 2026 was a collective victory, made possible by the integrity and discipline of the personnel stationed at Onne.
He stated that their ability to balance security concerns with the need for rapid trade facilitation remained the cornerstone of the command’s operational philosophy.
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