General
IIF Ready for 3rd Gender Impact Investment Summit
By Modupe Gbadeyanka
All is now set for the third Gender Impact Investment Summit (GIIS) scheduled for Thursday, October 2, 2025, at the Civic Centre in Lagos.
The event is organised by the Impact Investors Foundation (IIF), Nigeria’s leading platform for unlocking impact capital.
A key highlight of the programme will be the official unveiling of the ground-breaking Gender/Gender Equity and Social Inclusion (GESI) Roadmap.
This strategic framework is designed to tackle the systemic barriers faced by businesses led by women, youth, and People with Disabilities (PWDs) in Nigeria, providing a clear path for various actors to adopt more inclusive practices.
Another key feature of the summit will be in-person and virtual deal rooms, which will provide a direct platform for investment-ready, women-led, and women-owned businesses to connect with capital providers.
This unique opportunity will facilitate crucial partnerships and foster real-world investments by connecting entrepreneurs with impact investors and fund managers.
GIIS serves as a crucial platform where stakeholders converge to address systemic barriers that limit women’s access to finance and accelerate progress toward a more inclusive and equitable investment landscape in Nigeria.
While previous summits focused on bridging the financing gap and promoting gender-inclusive investment models, this year’s summit will move beyond dialogue by introducing a comprehensive roadmap with targeted interventions for inclusive capital mobilisation.
The third annual summit, with the theme, Investing in Equity: Advancing Gender-Led Solutions for Inclusive Development, will mark a significant turning point, shifting from advocacy to tangible action.
The summit will feature panel discussions that will drive knowledge and insight sharing, breakout and networking sessions, fireside chats, and presentations from notable speakers in the financial, business, and policy sectors. Jessica Espinoza, CEO of 2X Global, a global industry body for gender lens investing will deliver the keynote address.
“This summit is about more than just talk; it’s about action. By shifting our focus from advocacy to a powerful business strategy, we’re proving that investing with a gender lens isn’t just about doing good—it’s about achieving higher returns,” the chief executive of IIF, Ms Etemore Glover, stated.
“Through GIIS, IIF is committed to establishing Nigeria as a leader in gender-inclusive investments, showing the world that economic prosperity and social impact can go hand-in-hand,” she added.
General
ICPC to Probe Farouk Ahmed Despite Dangote’s Petition Withdrawal
By Adedapo Adesanya
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has said it would continue the probe of a former Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Ahmed Farouk, despite the withdrawal of the petition by Mr Aliko Dangote.
The agency said it had received a “notice of withdrawal” of the petition against Mr Ahmed, submitted by a legal counsel to the petitioner.
Recall that Mr Dangote had alleged that Mr Ahmed, a public servant, spent over $7 million in public funds on the education of his four children in different schools in Switzerland, allegedly paying fees upfront for a period of six years.
In December, the businessman demanded the arrest, investigation, and prosecution of the former MD for allegedly living above his means as a public servant.
In the petition, Mr Dangote listed the children and their schools in Switzerland, including the amount paid for each of them to establish his allegations and verification by the anti-graft agency.
Mr Ahmed denied the allegations, describing them as “wild and spurious”.
The ex-NMDPRA boss has since resigned from his position, prompting a withdrawal of the petition by the businessman.
However, the ICPC said in line with the provisions of sections 3(14) and 27(3) of its enabling law, it would continue to investigate the matter in line with its statutory mandate and in the interest of transparency, accountability, and the fight against corruption for the benefit of Nigeria.
“The Independent Corrupt Practices and Other Related Offences Commission (ICPC) is in receipt of a letter dated January 5, 2026, titled “Notice of Withdrawal of Petition against Engineer Farouk Ahmed,” submitted to the Commission by Dr. O.J. Onoja, SAN and Associates, legal counsel to Alhaji Aliko Dangote,” a statement by the spokesperson of the commission, Mr J. Okor Odey, partly read.
“The letter from O. J. Onoja SAN, states that the petitioner has withdrawn the petition dated 16 December, 2025, submitted against Engineer Farouk Ahmed, the immediate past ACE/CEO of the NMDPRA, in its entirety, and that another law enforcement agency has taken over.
“The ICPC wishes to state categorically that, in line with the provisions of sections 3(14) and 27(3) of its enabling Act, the investigations in the interest of the Nigerian people and the Nigerian state have already commenced and are presently ongoing,” the statement added.
General
Rivers Assembly Begins Impeachment Proceedings Against Governor Fubara
By Aduragbemi Omiyale
Members of the Rivers State House of Assembly have commenced impeachment proceedings against Governor Sim Fubara.
The exercise commenced on Thursday and if successful, it would see the removal of Mr Fubara from office by the state parliament.
This is coming less than less than four months after he was restored as the Governor of the oil-rich state from a six-month suspension on democracy in the state.
In March 2025, President Bola Tinubu suspected Mr Fubara and the Rivers State House of Assembly over political tension between the Governor and his predecessor, Mr Nyesom Wike, who is now the Minister of the Federal Capital Territory (FCT) Abuja.
A peace deal was reportedly brokered by Mr Tinubu between Mr Fubara and Mr Wike but things fell apart a few months after.
The Rivers Assembly is populated by loyalists of Mr Wike and has lawmakers from the All Progressives Congress (APC) and the People’s Democratic Party (PDP).
A few weeks ago, the Governor decamped from the PDP to the APC, in a move described as a masterstroke because it was calculated that it would free Mr Fubara from the grip of Mr Wike, who has been expelled from the PDP but yet to join the APC.
General
Dangote Withdraws Petition Against Ex-NMDPRA CEO Farouk Ahmed
By Modupe Gbadeyanka
The petition filed by Mr Aliko Dangote to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) against the former chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed, has been withdrawn.
The businessman had accused Mr Ahmed of using his office to enrich himself and living above his means.
According Mr Dangote, the former NMDPRA chief spent about $7 million belonging to Nigerians for the primary education of his four children in Switzerland.
In the heat of this, Mr Ahmed resigned from the position, with the ICPC promising to further look into the matter.
It was gathered that the owner of the Lagos-based Dangote Petroleum Refinery has withdrawn his petition against Mr Ahmed from the ICPC because a similar complaint is already being investigated by the Economic and Financial Crimes Commission (EFCC).
The ICPC, in a statement signed by its Head of Media and Public Communications, Mr John Okor Odey, on Wednesday said, “The ICPC is in receipt of a letter dated January 5, 2025, titled ‘Notice of Withdrawal of Petition against Engineer Farouk Ahmed’, submitted to the commission by Dr. O.J. Onoja, SAN and Associates, legal counsel to Aliko Dangote.
“The letter states that the petitioner has withdrawn the petition dated December 16, 2025, submitted against Engineer Farouk Ahmed, the immediate past ACE/CEO of the NMDPRA, in its entirety, and that another law enforcement agency has taken over.
“The ICPC wishes to state categorically that, in line with the provisions of Sections 3(14) and 27(3) of its enabling Act, investigations in the interest of the Nigerian people and the Nigerian state have already commenced and are presently ongoing.
“The ICPC will therefore continue to investigate this matter in line with its statutory mandate and in the interest of transparency, accountability and the fight against corruption for the benefit of Nigeria.”
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