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Abuja Residents Applaud Glo for Laffta Fest

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Residents of the Federal Capital Territory, Abuja last weekend eulogised telecommunications giant, Globacom, as its stress-busting flagship comedy show, Glo Laffta Fest, hit the capital city.

The event which held at the Old Parade Ground in Garki, was witnessed by a capacity crowd which came from all the nooks and crannies of the FCT and as far as neighbouring Nasarawa State.

Excited residents attested to the fact that in the more than three decades’ existence of the Abuja landmark, only very few corporate organisations had achieved the feat that Globacom recorded with the iconic show.

 Jos-based comedian, Osama, opened the show with rib-cracking jokes and anecdotes about life in the pseudo-militarised city of Jos.

MC Tagwaye, who is noted for perfectly mimicking President Mohammadu Buhari, raised the bar as he reeled out jokes bordering on the socio-political circumstances around the country.

His performance reached a crescendo when he gave some members of the audience opportunity to ask questions about his achievements as  ‘His Excellency’.

The spontaneity and quick wit got him a loud ovation as the crowd tagged along with him.

They equally sought his views on how “his administration” would iron out   issues of witches and wizards flying at night.  He hilariously responded that the matter would be addressed by his Minister of Aviation.

Dan the Humorous whose jokes bear largely Port Harcourt-oriented plots  picked the baton and served the crowd jokes on health and care-giving institutions, especially teaching hospitals.

Ugandan comedian, Salvador serenaded the audience with his own style of jokes. His jocular comparison of reactions of the authorities to suicidal people in the advanced countries and in his home country, Uganda drew wild laughter.

Other comedians who thrilled the audience to no end include I Go Dye, Gordons, Bovi and Basketmouth.

Globacom’s National Sales Coordinator, Mr. Kazeem Kaka, described the show as reward for  Globacom subscribers for their loyalty to the brand.

The show, according to him, would be taken to 25 more cities over the next six months. The cities include Awka, Ikeja, Ikorodu, FESTAC , Ajah, Owerri; Asaba; Calabar; Enugu; Aba; Suleja, Kubwa, FCT, Ibadan; Ijebu Ode; Abeokuta; Ekpoma; Kaduna; Akure; Lokoja; and Anyigba.

A dance competition was also staged to add colour to the performances. Three winners, professional dancers Eunice Nkwocha and Ijeh Joy and Favour Solomon, a student emerged as people’s favourites and went home with mouth-watering gifts.

Nollywood legends, Richard Mofe-Damijo, Kanayo O. Kanayo and Patience Ozokwor popularly known as Mama G were celebrity guests at the show.

The next edition holds in the Coal City, Enugu .

To attend the show, current and prospective subscribers are enjoined to recharge and  use up to N2,000 credit within one month and text LOL and preferred location to short code 240; for example, “LOL Enugu to 240”.


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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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