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iConcepts Donates New ICT Lab to Lagos Education District 111

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Guests and students at the official handover of a new ICT laboratory donated iConcepts Limited as part of its community social responsibility to Government Senior College, Victoria \Island, recently.
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iConcepts Limited has handed over a new ICT laboratory donated as part of its community social responsibility to Government Senior College, Victoria Island, recently.

iConcepts said that in order to improve ICT learning in Nigeria, particularly in the area of strengthening the technology skills of Nigerian children, it decided to provide assistance for the setting up of an ICT laboratory equipped with 10 modern desktop computers and accessories and also connected with a fully subscribed internet that will last for 3 months.

The Company expressed hope that the construction of the ICT laboratory will give students a leg up when it comes to completing their coursework, enriching their academic experience and give them the opportunity to upgrade their educational capacity and progress to the next level of excellence in their academics.

Speaking at the hand-over ceremony, Mr. Ugo Okoye, managing Director of iConcepts Limited, emphasized the importance of ICT education in building a strong and productive economy and nation and expressed iConcept’s commitment to support those in need in Nigeria.

He said, “This donation is a drop in the bucket of what iConcepts is trying to catalyze,we have resorted to becoming an active player in building and nurturing talents that will become future software and computing gurus in Africa”, he said. He finally urged thel beneficiary of the project to take good care of the school facility so that not only the present generation should benefit but also generations to come”.

Receiving the project on behalf of the Education District 111, Lagos State Government, Mr. Olayinka Olaniyi, tutor general/permanent secretary, expressed his utmost appreciation to iConcepts Limited for the project.

He indicated that there is an acute shortage of computer laboratories at secondary school level hence the project will go a long way in addressing this challenge.

The project is therefore expected to improve ICT education and knowledge for the students of Government Senior College, Victoria Island.

“As education plays a critical role in the socio-economic development of the nation, the Government of Lagos State is committed to providing access, improving quality and relevance of education to the needs of the people and government, the TG/PS continued.

“That is why the Lagos State Government takes education seriously as one of the priorities; however, the government cannot do it alone but will need concerted efforts from partners like iConcepts Limited to provide a conducive teaching and learning environment and improve the quality of education in general,” he said.

The TGPS applauded the Management and Staff of iConcepts Limited for the support rendered to the Education District of Lagos State Government and urged the students and teachers to take good care of the facilities that have been provided.

Since its inception in 2004, iConcepts has supported several community projects and NGOs in Nigeria as part of its corporate social responsibility and a way of giving back to the community. iConcepts’ focus is not just on business, but also on a vision is to enrich life through impactful corporate social responsibility (CSR) projects

iConcepts is Nigeria’s leading multi-channel solutions provider of interactive communication services.

It applies expertise in mobile marketing technologies and its network of relationships with the Nigerian GSM operators, advertising and marketing agencies, media organizations and corporations in different industries to develop innovative marketing, entertainment, business and communication solutions; specializing in promotional marketing services (competition and promotions), information services, unique communication solutions and content aggregation, origination and publishing.

iConcepts distinguishes itself from competitors by being the only company capable of delivering a one-stop full service model across all channels of communication – towards a client’s customer base.

With a strong focus on media and consumer promotions, iConcepts manages the telephone, Internet, E-mail, & SMS for leading marketers and media outlets hence delivering a simple turn-key solution for our client’s specific needs.


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EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud

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Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), Ikoyi, Lagos, on Tuesday, March 3, 2026, arraigned two bank officials, Bakare Oladimeji Surajudeen and James Olukayode Imokwede, over an alleged $306,667.81 and €50,250 fraud before Justice Ismaila Ijelu of the Lagos State High Court sitting in Ikeja.
EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud

EFCC

The defendants, who are both top officials of FSDH Merchant Bank Limited, were arraigned on a 10-count charge bordering on alleged stealing and retention of stolen property to the tune of $306,667.81 and €50,250.
The petitioner, FSDH Merchant Bank Limited, alleged that an internal audit uncovered unauthorized debits totaling $306,667.81 and €50,250, equivalent to N527,406,916.66 (Five Hundred and Twenty-Seven Million, Four Hundred and Six Thousand, Nine Hundred and Sixteen Naira, Sixty Six kobo), from its Letters of Credit (LC) payable accounts.
Investigations revealed that the defendants processed fraudulent transfers through the SWIFT platform to third parties.
One of the counts reads:
“That you, BAKARE OLADIMEJI SURAJUDEEN and JAMES OLUKAYODE IMOKWEDE, sometime in 2021 in Lagos within the jurisdiction of this Honourable Court, dishonestly took the sum of N527,406,916.66 (Five Hundred and Twenty-Seven Million, Four Hundred and Six Thousand, Nine Hundred and Sixteen Naira, Sixty Six kobo), property of FSDH Merchant Bank Limited.”
Another count reads:
“That you BAKARE OLADIMEJI SURAJUDEEN AND JAMES Olukayode Imokwede sometime in 2021 in Lagos within the jurisdiction of this Honourable Court dishonestly took sum of $306,667. 81 (Three Hundred and Six Thousand, Six Hundred and Sixty Seven dollars, Eighty one cents) property of FSDH Merchant Bank Limited”.
The defendants pleaded “not guilty” to all the charges preferred against them.
Following their pleas, prosecution counsel, H. U. Kofarnaisa, asked the court for a trial date and also prayed that the defendants be remanded in a Correctional facility pending trial.
Counsel to the first and second defendants, Oluwaseun Akintunde and Olajide S. Onasanya, informed the court that bail applications had been filed on behalf of the defendants and also urged the court to grant them bail on liberal terms.
They also prayed that the defendants be remanded in the EFCC custody pending the perfection of their bail conditions.
The prosecution counsel, however, opposed the prayers of the defence seeking the remand of the defendants in the EFCC custody, saying that “the EFCC detention facilities are overstretched.”
After listening to both parties, Justice Ijelu granted the defendants bail in the sum of N2 million each, with two sureties in like sum.
The court ordered that one of the sureties must be a relative, who is gainfully employed.
The sureties must provide evidence of tax payment in the last three years and must show proof of livelihood, with their residences verified.
The defendants were ordered to deposit their international passports with the court, and must not travel outside the country without the leave of the court.
The judge subsequently remanded the defendants in a Correctional facility pending the perfection of their bail conditions.
Justice Ijelu adjourned the matter till March 25, 2026, for the commencement of trial.

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AfDB Supports Francophone Africa Start-ups with €6.5M

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The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.

The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.

This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.

Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.

The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.

The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.

In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.


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Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

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Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.

Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.

Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.

The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.

SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.

The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.

Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.

Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.


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