General
WeForGood Offers Start-ups N104m for Sustainable Solutions
By Modupe Gbadeyanka
Start-ups run by African entrepreneurs have been offered a grant of about N104 million ($250,000) to design innovative solutions that will solve the climate crisis of the continent.
This funding support is being given by a Lagos-based non-governmental organisation, WeForGood International, with the backing of IHS Nigeria.
In a statement, WeForGood stated that the fund would be disbursed to viable eco-friendly sustainable enterprises owned by young African entrepreneurs between 18 and 35 years and would have eco-solutions projects that would enhance environmental sustainability.
Speaking at the 2022 Sustainable Solutions Africa Project Conference in Lagos, the CEO of the group, Ms Temitayo Ade-Peters, disclosed that, “In the past three years, through our fellowship programme, we have directly supported close to 60 African startups with training and coaching and facilitated over $250,000 to promote sustainable solutions on the continent.”
“We’ve reached about 1,400 youths and entrepreneurs exploring skills for impact to further scale their reach. The start-ups we support run for-profit and not-for-profit businesses addressing one or more areas of the SDGs,” she further said at the event to mark the United Nations’ World Youth Skills Day with the theme Promoting Eco-Focused Solutions Africa’s Pathway to Sustainable Growth.
Ms Ade-Peters informed guests on the occasion that “through the support of IHS Nigeria, we have an opportunity for young people to get up to N3 million to support their individual projects” that could be used to create sustainable solutions to solve Africa’s problems, commending the company for its support for the climate.
On her part, the Director for Corporate Excellence and Programme Management at IHS Nigeria, Ms Oluwatoyin Aralepo, advised the young entrepreneurs to base their entrepreneurial development on three leadership ladders personal vision, higher standard and influence.
“Leadership has to be strategic and patient to be able to carry all members of the team along to achieve the group’s objectives,” Ms Aralepo said.
Also speaking, the Senior Special Assistant to the President on Sustainable Development Goals (SDGs), Mrs Adejoke Orelope-Adefulire, said that the participation of youth in the advocacy for a real shift is essential in order to combat climate change.
“Government, private sector and civil society must all look towards young people, as we aim to strengthen both formal and informal education on climate change and viable lifestyles.
In addition, sustainable production and consumption patterns must be promoted and supported by the youth as environmental champions in their local communities,” Mrs Orelepe-Adefulire said.
A Human Resources Consultant, Mrs Sandra Iheanacho, who was also at the programme, said that education was very essential to produce young Nigerian entrepreneurs that would become job creators.
“To take care of tomorrow we have to prepare by taking care of the education of our youths that are capable to create jobs,” she said.
Another speaking, Ms Yejide Aina, who is the CEO of The Illuminator’s Academy, said that Nigerian youths need a quality educational curriculum that would equip them with an innovative and entrepreneurial capacity to create economic opportunities in the country’s economy.
By Modupe Gbadeyanka
The Economic and Financial Crimes Commission (EFCC) has explained why it initiated a move to freeze the bank account of the Osun State government.
Earlier on Wednesday, the Governor of Osun State, Mr Ademola Adeleke, claimed that the anti-money laundering agency asked one of its bankers, First Bank, not to release funds to the state government.
According to the Governor, this was part of the strategies to frustrate his administration ahead of the August 15, 2026, governorship election in the state.
Reacting to the issue on Wednesday night, the EFCC, in a statement, said it has been investigating the state government since March 2026 over an alleged “fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) account to the tune of N11.0 billion.
The organisation noted that some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC.
“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026.
“The commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved,” parts of the statement said.
In the disclosure, the agency noted that its preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources, stressing that it cannot “watch idly while a state government’s account is being pillaged.”
“While the commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the funds of the state. It will be uncharitable for the commission to allow an excuse of an upcoming election to fold its arms to perform its legally-assigned functions,” it pointed out.
The EFCC disclosed that it is “keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the commission to ensure accountability and probity. The commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted.”
The organisation urged the public “to ignore false narratives and deliberate demonisation of the works of the EFCC. The interests of all Nigerians are greater and will always be protected by the commission.”
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has launched a mobile application designed to monitor fuel consumption patterns in real time across retail outlets nationwide.
The NMDPRA, established under the Petroleum Industry Act (PIA) 2021, is responsible for the technical and commercial regulation of Nigeria’s midstream and downstream petroleum operations. The deployment of the mobile application aligns with the authority’s broader efforts to leverage technology to improve regulatory compliance and strengthen accountability.
The pilot phase of the project began on August 1 in Abuja and its six Area Councils, the authority said in a statement published on X.
As part of the rollout, the Executive Director for Distribution Systems, Storage and Retailing Infrastructure (DSSRI), Mr Ogbugo Ukoha, led a team alongside officials from the Abuja Regional Office to assess the readiness and operational performance of the digital platform at participating retail outlets.
According to the NMDPRA, the application captures inventory and compliance data in real time, enabling regulators to monitor fuel distribution more effectively while improving operational efficiency across the sector.
The authority said the platform would generate reliable, data-driven insights to support evidence-based decision-making, strengthen national energy security planning and enhance transparency in the downstream petroleum industry.
It added that the initiative is expected to provide significant value to government, investors, operators and other stakeholders by improving access to accurate fuel consumption and compliance data.
Nigeria’s downstream petroleum sector has undergone significant changes since the deregulation of the petrol market and the removal of fuel subsidies, with regulators placing greater emphasis on data-driven supervision to ensure product availability, prevent supply disruptions and discourage sharp regional disparities in distribution.
By Modupe Gbadeyanka
No doubt, moving money among African markets remains a slow, fragmented process that relies on multiple intermediaries and prolonged settlement cycles.
To solve this issue and drive the development of stablecoin-enabled payment services for businesses across the continent, Onafriq has joined forces with a leading stablecoin infrastructure provider, Privy.
The collaboration will enable Onafriq to create and manage embedded digital asset solutions for its partners and, in time, institutional clients where regulation allows. The initial phase focuses on cross-chain stablecoin transfers and treasury and settlement workflows, creating the foundation for future cross-border payment and liquidity solutions.
Integrating Privy’s secure infrastructure enables Onafriq to build the capabilities required to support a new generation of efficient digital payment services for banks, fintechs, and mobile money operators.
This partnership is a key component of Onafriq’s broader strategy to modernise pan-African payment infrastructure, enabling secure multi-modal wallets and more efficient movement of value across the continent.
The outcome will support a range of future institutional use cases, including stablecoin-enabled settlement, treasury management and liquidity services, as it reflects Onafriq’s commitment to driving Africa’s digital transformation agenda by investing in technologies that make financial services more efficient, connected and accessible.
It was gathered that Onafriq selected Privy for its enterprise-grade infrastructure to enable the seamless integration of digital asset wallet capabilities into its products, subject to regulatory approval, and deliver a simple user experience while abstracting the complexity of blockchain technology.
“At Onafriq, we keep investing in technology that makes payments faster and more accessible. Privy gives us a building block for faster settlement and better liquidity management. As demand for digital asset services grows, our goal is to ensure Africa’s payment ecosystem benefits securely and in line with regulatory frameworks,” the Group Chief Product and Innovation Officer at Onafriq,” Mr Luke Kyohere, said.
The chief executive of Privy, Mr Henri Stern, said, “Stablecoins will play an increasingly important role in the future of global payments, but real-world adoption depends on infrastructure that is secure, scalable and simple to implement. Working with Onafriq allows us to help build that foundation across Africa and beyond.”
