General
Seedstars Launches FIWAM to Boost Financial Inclusion for Women Migrants
By Adedapo Adesanya
Seedstars has launched the Financial Innovations for Women Affected by Migration (FIWAM), a growth programme that aims to identify and support fintech companies that are focused on promoting financial inclusion, particularly for women migrants and women affected by migration across Sub-Saharan Africa as well as in Asia and the Middle East/North Africa (MENA) markets.
The programme will be funded by the Impact-Linked Fund for Gender Inclusive FinTech (ILF for GIF), managed by the Impact-Linked Finance Fund (ILFF), and supported by the Swiss Agency for Development and Cooperation. It will see assistance from the Austrian Development Agency, the operational unit of Austrian Development Cooperation.
This will be the next step in their collaboration as ILF for GIF has partnered with Seedstars to foster improved access and utilization of financial products and services for women affected by migration.
The recent report by Village Capital, “Catalyzing Financial Inclusion: Gender-Inclusive Fintech Solutions for Migrants,” cites that there are over 281 million international migrants and over 55 million internally displaced persons globally. These numbers continue to rise with protracted conflict, the effects of climate change, and increasing poverty levels worldwide.
Recognising this, Seedsatrs said that there is a growing need to improve the financial inclusion of migrants, especially women migrants who face even more barriers in accessing financial services, such as legislative constraints, documentation deficiencies, language barriers, cultural differences, and limited mobility.
Through the FIWAM Growth Program, selected Fintechs from Asia, MENA, and Sub-Saharan Africa will receive technical assistance to attain investment potential and scale their impact, targeting women migrants and women affected by migration.
Each cohort of 10-15 fintechs per region will also receive direct support from experts in residence (EIR) and mentors drawn from their respective regions over a period of three months.
The selection requirement is limited to for-profit entities that have operations in a Sub-Saharan African/MENA/Asian country and provide a fintech solution that already serves or has the potential to serve women migrants or women affected by migration.
Other criteria indicate that the entities must have product market fit, be at a growth stage, generate monthly revenue of ±$10,000, and must have woman-led companies. Founders who are women migrants are highly encouraged to apply, according to a statement seen by Business Post.
Speaking on this, Susanne Thiard-Laforet, Programme Manager Private Sector & Development, Austrian Development Agency, stated, “We’re eager to collaborate with Seedstars in this pivotal initiative to enhance access and utilization of financial services for women impacted by migration, encompassing not only migrants themselves but also their families and host communities.
“This programme transcends mere acceleration; it is a catalyst for meaningful change, dismantling barriers and biases in order to recognize migrant groups, especially women, as a viable market segment.
“We are looking forward to supporting and learning from the innovative solutions that will be developed through this programme and the impactful strides they will make in fostering financial inclusion.”
Commenting on the launch of the program, Elizabeth Jones, Global Lead Programme Operations of Seedstars, said, “We’re thrilled to launch the Financial Innovations for Women Affected by Migration (FIWAM) Growth Program, as it has the potential to create a lasting impact on the lives of women migrants and women affected by migration. We’re eager to witness the transformative financial inclusion these innovative solutions will bring about in their communities.”
General
Nigeria Adopts New Security Framework to Safeguard Oil Assets
By Adedapo Adesanya
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Federal Ministry of Defence have agreed to deepen collaboration on the protection of critical oil and gas infrastructure through a new non-kinetic security framework designed to curb threats, strengthen community relations and sustain rising output.
The initiative comes as Nigeria recorded crude oil production of nearly 1.8 million barrels per day, one of the highest production levels in recent years, amid intensified efforts to combat crude oil theft, pipeline vandalism and other security challenges across the Niger Delta.
Speaking during a courtesy visit by a delegation from the Ministry of Defence to the Commission’s headquarters in Abuja, the chief executive of NUPRC, Mrs Oritsemeyiwa Eyesan, said the country’s recent production gains were directly linked to coordinated interventions involving security agencies and industry stakeholders.
“Today, we are benefiting from those efforts. Last month, we recorded production of nearly 1.8 million barrels per day throughout the month,” Mrs Eyesan said.
She noted that sustained investments in security operations, technology deployment and human capacity development had significantly improved production stability and operational efficiency in the upstream petroleum sector.
According to her, maintaining and expanding the gains has become critical as Nigeria seeks to increase crude oil output, attract fresh investments and maximise revenue generation from the petroleum industry.
“As we look to the future, we desire to grow production and must have assurances that security threats can be effectively managed. We can only achieve this through stronger collaboration with security agencies and industry stakeholders,” she stated.
Mrs Eyesan stressed that safeguarding oil and gas assets remains central to Nigeria’s energy security strategy and economic growth objectives, noting that production assurance has become a key requirement for investors considering new upstream projects.
She disclosed that the Commission was exploring wider deployment of advanced technologies, including drone surveillance systems, to improve monitoring of the country’s vast oil and gas infrastructure network and detect threats before they escalate into operational disruptions.
The NUPRC boss further revealed that the Commission would work closely with operators to refine and implement a new security framework, while providing leadership in stakeholder engagement and governance structures needed to ensure long-term sustainability.
The Minister of Defence, Mr Christopher Gwabin Musa, said the Ministry was introducing a non-kinetic security intervention model aimed at addressing the underlying causes of insecurity in oil-producing communities.
Rather than relying solely on military operations, he explained that the strategy would focus on community engagement, youth empowerment and social inclusion programmes to build lasting peace around critical energy infrastructure.
“One of the best ways to engage youths in oil-producing areas is through sports-based interventions,” Mr Musa stated.
He explained that the initiative would utilise sports development programmes to channel youthful energy into productive activities, reduce vulnerability to criminal networks and strengthen community ownership of critical national assets.
The Defence Minister, who was represented by one of his aides, added that the intervention would also include structured programmes for persons living with disabilities, creating broader opportunities for participation and economic inclusion in host communities.
According to him, the initiative aligns with the Host Community Development provisions of the Petroleum Industry Act (PIA) and is expected to strengthen relationships between operators and host communities while promoting sustainable development.
General
PTML Unveils $50m Expansion Plan for Tin Can Island Port
By Adedapo Adesanya
Port and Terminal Multiservices Limited (PTML) has disclosed the investment of $50 million to expand its terminal at Tin Can Island Port, Lagos, as part of efforts to strengthen Nigeria’s bid to become the leading maritime hub in West and Central Africa.
PTML Managing Director, Mr Ascanio Russo, made the disclosure on Wednesday during a visit to the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, in Abuja.
The investment by PTML, a member of the Grimaldi Group, will expand berthing capacity and acquire additional modern port equipment.
“The Grimaldi Group remains deeply committed to Nigeria and believes in the country’s potential as the leading maritime and logistics gateway in West and Central Africa,” Mr Russo said.
“This $50 million investment is designed to expand our berthing capacity and deploy modern equipment that will enhance operational efficiency, cargo handling, and service delivery.”
He said the upgraded berths would enable PTML to receive next-generation Container/Roll-on Roll-off, Con-Ro, vessels, including the largest Con-Ro ships currently operating globally, directly at the Lagos terminal.
“The maritime industry is evolving rapidly, with larger vessels becoming the standard for international trade. Through this expansion, PTML will be fully equipped to accommodate these next-generation Con-Ro vessels and keep Nigeria competitive for global shipping lines,” Mr Russo stated.
He added that the project responds directly to the Federal Government’s call for increased private-sector participation in port modernisation.
Mr Russo said the expansion would facilitate trade, increase cargo throughput, create jobs during construction and operations, and boost government revenue through higher port activity.
On his part, Mr Oyetola welcomed the investment as a vote of confidence in the Federal Government’s maritime reforms.
“This investment shows our reforms are yielding results and that international investors recognise the opportunities in Nigeria’s maritime sector,” the minister said. “We are determined to transform our ports into modern, efficient, and globally competitive gateways that support economic growth and position Nigeria as the maritime hub of West and Central Africa.”
Mr Oyetola said the government was implementing measures to improve port efficiency, reduce bottlenecks, upgrade infrastructure, and strengthen the ease of doing business.
He said these include port modernisation, deeper collaboration with private operators, digitalisation of port processes, and policies to attract more maritime trade.
General
Lagos Police Investigates Ammunition Package Delivery to First Bank MD
By Adedapo Adesanya
The Lagos State Police Command is investigating the delivery of a parcel containing live ammunition delivered to the managing director of First Bank Nigeria, Mr Oluwasegun Alebiosu.
The Commissioner of Police, Lagos State command, Mr Tijani Fatai, confirmed the incident on Tuesday during a press briefing at the command headquarters.
He said Mr Alebiosu reported the case on May 7, noting that two rounds of 7.62mm live ammunition were sent to him through a parcel.
“The managing director reported the matter to the police after a package containing two rounds of 7.62mm live ammunition was delivered on his behalf by his security guard at his residence. The case is still under investigation, and we are treating it with the seriousness it deserves,” he said.
According to him, the parcel was first received by the bank chief’s security guard, who then handed it over to him.
The police commissioner said that operatives have launched an investigation, including forensic analysis and intelligence work, to identify the perpetrators and the circumstances of the incident.
He added that no suspect linked to the crime has been brought into custody.
“Presently, no suspect is in custody. Even though the MD has mentioned some people whom he suspected of being the brains behind it, that is his suspicion, anyway. We are still working on it,” he said.
Mr Fatai noted that detectives are reviewing information provided by the complainant, including details of individuals who may have relevant knowledge of the incident.
He assured the public that the command would keep them informed as the investigations go on, adding that the public should allow the police to carry out their duties.
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