News
Tears Flow Freely as Usifo Ataga, Super TV Boss Laid to Rest in Lagos
Micheal Usifo Ataga, founder and CEO Super TV was yesterday interred in a private ceremony at the Ebony Vaults in Ikoyi, Lagos amid eulogies and tears from family members, close associates and other sympathisers.
Late Usifo Ataga, Super TV Boss
The service of songs and funeral rites on Thursday and Friday respectively held amid tight security.
Ataga, found dead in an apartment at Lekki last month, just few days to his 50th birthday.
Following his death, Lagos Police Command arrested Chidinma Ojukwu, a 21-year-old undergraduate of the University of Lagos (UNILAG), and others in connection with his death.
During the funeral service, which held at Our Lady of Perpetual Help Catholic Church, Lagos, Very Rev. Fr. Julius Olaitan, officiating priest, described the deceased as a focused man who achieved many things.
He noted Ataga was a man of many parts that meant many things to different people.
“He was a man with enemies, his manner of death is a testimony to that. It is a duty for those in authorities to do the right thing by finding those who brutally murdered him.
“Who can imagine what Usifo went through in the hands of those who tortured him? We should be mindful of what we say on social media.
“Please spare the family of the good name. Our common humanity demands that from us,” he pleaded.
“Death is a terrifying mystery. We’ve not lost him but we’ve gained a soul in heaven. Usifo is now in a place where he can be with reward of his earthly sojourn,” the cleric added.
Sylvia Ataga, mother of the deceased, at the service of songs on Thursday, said her son died an undeserved death.
Brenda Ataga, his wife, said news of her husband’s demise was heartbreaking.
“Finding out of your demise was the worst news imaginable. My mind had raced through all the possibilities of where you were and what could have happened but death, death wasn’t an option,” she said.
“The girls and I were looking forward to seeing you, to celebrate your milestone.
“I had imagined how surprised you would be when you walked in to see a place set up for you. I had imagined the infectious smile.”
The deceased was survived by two daughters — Eboselulu and Emoata.
EFCC
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.
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.
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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