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National Grid Collapse Leaves Abuja, Lagos Residents in Darkness

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Mini Grids Programme

By Dipo Olowookere

Residents of Abuja and Lagos are currently experiencing blackouts after the national grid collapsed on Wednesday morning.

Electricity in two of the biggest cities in Nigeria went off a few minutes before noon on Wednesday, information gathered by Business Post showed.

This was confirmed by one of the energy distribution companies in the country in a message to customers within its franchise areas.

“Please be informed that we experienced a system outage today, February 12, 2025, at 11:34 am affecting all our feeders.

“Restoration of supply is ongoing in collaboration with our critical stakeholders. Kindly bear with us,” the message from Ikeja Electric said.

As of the time of filing this report, power had yet to be restored by the Disco, as electricity consumers switched to alternative power sources amid the scorching heat.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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EFCC Arrests Convicted Ex-Power Minister Saleh Mamman

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EFCC Arrest Saleh Mamman

By Modupe Gbadeyanka

The recently-convicted former Minister of Power, Mr Saleh Mamman, has been arrested by the Economic and Financial Crimes Commission (EFCC).

Chairman of the EFCC, Mr Ola Olukoyede, during a press briefing in Abuja on Tuesday, said the former senior government official was apprehended this afternoon along with two others accused of shielding him.

Earlier this month, Justice James Omotosho of the Federal High Court in Abuja convicted Mr Mamman for N33.8 billion fraud after he was found guilty of a 12-count charge brought against him by the EFCC. He was sentenced to 75 years in prison, though he was not present in court on the day of his sentencing.

Speaking with journalists today, Mr Olukoyede said the convict was arrested at 3:30 am on Tuesday in a house in Kano, where he was allegedly being protected.

“Ladies and gentlemen, you will recall that sometime in January 2025, we filed charges against the ex-minister of power for allegedly converting over N33 billion – money that was set aside for the Mambilla and Zungeru power projects,” Olukoyede said during a press briefing.

“About 14 to 15 months down the line, specifically on the 7th of this month, we secured convictions on all 12 counts. Because the defendant was not present, the issue of sentencing was shifted. And on the 13th of this month, he was sentenced in absentia.

“Since then, we decided to open our intelligence surveillance to the public, looking for him all over the place. I am happy to announce to Nigerians that at about 3:30 a.m. this morning, we arrested Mr Saleh Mamman somewhere in Kano. We have discovered that he was actually being protected all this while,” he said.

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UK Backs Pan-African Founder Support Programme at London Tech Week

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UK Pan-African Founder Programme

By Adedapo Adesanya

The United Kingdom is deepening efforts to position itself as a preferred global expansion hub for African startups with the launch of the UK–Africa Ecosystem Week, a coordinated support programme to be delivered during London Tech Week.

Powered by the UK–Africa Sandbox and Ventures 54 in partnership with the UK Department for Business and Trade (DBT), the initiative is expected to provide African founders with structured support to navigate business, investment and networking opportunities in the UK market.

The programme is also backed by the UK Nigeria Tech Hub, the UK South Africa Tech Hub, London & Partners and the Mayor of London’s office, signalling growing institutional support for stronger commercial and technology ties between the UK and African innovation ecosystems.

According to the organisers, the initiative introduces a more coordinated approach to participation at London Tech Week, one of the world’s largest annual technology gatherings, which attracts over 100,000 participants across more than 500 events yearly.

Founders participating in the programme will gain access to curated sessions, concierge-style support services, dedicated workspaces, investor engagement opportunities and market entry guidance tailored to African technology companies seeking expansion into the UK.

A flagship UK–Africa Ecosystem Day will also bring together investors, policymakers, ecosystem builders and founders to discuss commercial expansion opportunities and partnerships between both regions.

Founder of Ventures 54 and UK-Africa Sandbox, Mr Anthony William Catt, said the initiative was developed in response to the increasing number of African startups travelling to London Tech Week over the last few years.

He explained that what started as informal networking gatherings under the London Africa Network had evolved into structured programming and has now scaled into a full week of activities aimed at helping founders maximise opportunities available within the UK ecosystem.

“This is about putting the right structure in place, so African founders have a dedicated support track to get the most out of the week and access the best of what the UK has to offer,” he said.

Speaking on the initiative, Acting His Majesty’s Trade Commissioner for Africa, Mr Ben Ainsley, described the UK as a natural destination for ambitious African startups due to its large technology ecosystem, deep venture capital market and access to global talent.

“The UK Government is committed to supporting high-growth international companies succeed in the UK and initiatives like the UK–Africa Sandbox demonstrate our focus on making it easier for African founders to access support and fully engage with the UK’s world-class innovation ecosystem.”

The programme is expected to attract delegations and founders from countries including Nigeria, South Africa, Kenya, Egypt, Algeria and Ghana.

Organisers added that the initiative would extend beyond London Tech Week through the broader UK–Africa Sandbox platform, which aims to support African founders entering the UK market while also creating pathways for UK startups seeking expansion opportunities across Africa.

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Interswitch Deepens Support for Federal Revenue Collection on RevOP Platform

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Interswitch

By Modupe Gbadeyanka

Efforts by the federal government to improve its revenue collection are being boosted by the adoption of Interswitch’s Revenue Assurance and Optimisation (RevOP) platform.

As a Payment Service Solution Provider (PSSP), the leading integrated payments and digital commerce company has used its platform to strengthen public sector payment infrastructure and support Treasury Single Account (TSA) collections in Nigeria.

Through its integration with the RevOP platform, Interswitch continues to enable secure, end-to-end processing of payments initiated via the portal. Transactions are seamlessly routed into the TSA framework, ensuring compliance with federal government financial regulations while supporting efficient and accountable revenue management.

Leveraging its robust payment infrastructure, Interswitch facilitates multiple payment channels, including card and digital payments, delivering a seamless and reliable experience for citizens, businesses, and government agencies, fulfilling their payment obligations.

Interswitch’s continued role on the platform builds on its longstanding experience in supporting critical national payment infrastructure and collaborating with regulatory and financial institutions to drive digital transformation across Nigeria’s public sector. Its infrastructure is designed to ensure high transaction uptime, real-time processing, and secure data handling, all essential for effective public revenue collection.

By deepening its participation on the RevOP platform, Interswitch further strengthens its position as a trusted partner within Nigeria’s evolving digital payments ecosystem, while continuing to support initiatives that promote fiscal transparency, operational efficiency, and sustainable governance across government institutions.

“Interswitch is proud to continue supporting the federal government’s drive toward greater transparency and efficiency in public revenue management.

“Our role on the RevOP platform reflects our commitment to delivering a secure, seamless, and compliant payment infrastructure that enables all stakeholders to meet their obligations with confidence,” the Managing Director for INCLUSIO at Interswitch, Mr Muyiwa Asagba, stated.

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