News
ACT Foundation, JAN Partner to Promote Youth Enterprise

Aspire Coronation Trust (ACT) Foundation has partnered with Junior Achievement Nigeria (JAN) to unveil the “My Company My Region” initiative which is aimed at inspiring entrepreneurship spirit among youths as well as to solve the unemployment quagmire in the country.
Simi Nwogugu, Executive Director, JAN, stated that the initiative is to inspire entrepreneurship among youths as a means to social problem-solving, as well as a sustainable solution to Nigeria’s unemployment quagmire,
She added that the initiative is targeted at Nigerian school children in JSS2 and JSS3, noting that the program is aimed at aiding students to explore entrepreneurial opportunities in their regions by educating them on how to convert opportunities into successful businesses.
Nwogugu revealed that the partnership which is geared towards grooming young entrepreneurs was birthed as a result of the alarming dropout rate of students between Junior Secondary and Senior Secondary Schools in Nigeria.
This she said necessitated the need to positively impact the educational experience of young students and to create innovative young entrepreneurs.

The Executive Director expressed delight in the level of support offered by ACT Foundation for the purpose of creating an enabling environment for entrepreneurial growth, as well as the critical role played by the grant makers in the development of entrepreneurs.
“We are really excited about receiving this grant from ACT Foundation.
“They have always come to our entrepreneurial programs for school children at the senior secondary level in the Southwest, and together we decided on a tailored preparatory program for the junior secondary students in the region” she said.
Osayi Alilere, CEO, ACT Foundation stated that the grant maker’s commitment to growing partnerships for accelerated entrepreneurial development.
“This is our second partnership with Junior Achievement Nigeria because we believe that they are credible and innovative enough to impact the youth entrepreneurship and financial literacy space in Nigeria.
“This partnership develops an original program targeted specifically towards junior secondary schools in the Southwest because we believe that the Junior Achievement Worldwide expertise combined with relevant local content will develop world class entrepreneurs who can create innovative businesses that solve problems and generate wealth within their communities.

“ACT Foundation will remain dedicated to fostering entrepreneurship among Nigerian youth” Ms.Alile reassured.
This program will be first taught in schools across Lagos and Ogun States, reaching 2000 students in the 2018/2019 academic year with a goal to expand throughout the Southwest region.
Aspire Coronation Trust (ACT) Foundation is one of Africa’s leading grant makers dedicated to making impact by leveraging strategic partnerships to create a sustainable future for African youths.
Junior Achievement Nigeria (JAN) is part of Junior Achievement Worldwide (JAWW), the world’s largest and fastest growing nonprofit economic education organization with a 120-country network dedicated to preparing young people for a successful future.
Since inception in 1999, JAN has reached over 880,000 students in over 20,000 classrooms in over 30 locations across the country through over 2000 volunteers.
As a two-time grantee of ACT Foundation, JAN has successfully empowered young innovative youth in communities within Southwest Nigeria.
News
LIRS to Invoke NTAA to Recover Unpaid Taxes from Bank Accounts, Others

Lagos Internal Revenue Service (LIRS) pursuant to Section 60 of the Nigeria Tax Administration Act (NTAA), plans to ask Nigerian banks to debit bank accounts of employers who failed to remit tax liability.

This was disclosed in a recent notice on Sunday.
LIRS stressed that the move was in line with the implementation of the country’s NTAA and other new tax laws, which took effect on January 1, 2026.
“Where a taxpayer fails, neglects, or refuses to settle any established outstanding tax liability when due, LIRS may exercise its power under Section 60 to direct any of the following persons to pay the amount owed by the taxpayer:
“Banks and other financial institutions; Employers; tenants, debtors, or customers of the taxpayer; Agents, business partners, and any person holding money on behalf of the taxpayer; Any person owing money to the taxpayer, whether presently due or accruing. Once a substitution notice is issued, the person served is statutorily required to remit to LIRS the amount. Specified in the notice from funds belonging to, or payable to, the defaulting taxpayer,” the LIRS notice partly read.
Meanwhile, Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, weeks ago ruled out claims that the government would debit personal accounts over tax remittances.
News
Anambra Cuts Monday Pay to Kill Sit-at-Home

Anambra State will implement pro-rata salary payments for civil servants starting February 2026, targeting chronic Monday absenteeism from the long-running sit-at-home order, Information Commissioner Dr. Law Mefor announced Saturday.

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Speaking at an Awka briefing after the Executive Council’s end-of-tenure retreat, Mefor said improved security and transport have eliminated excuses for the four-year disruption, which cost the state trillions in lost revenue. “Workers enjoyed full pay despite staying away; now, no work means no pay for that day, calculated over 24 working days,” he stated.
Compliance measures include mandatory Monday clock-in forms, with markets urged to reopen fully amid bolstered security. This builds on a January 22 executive order docking 20% pay from teachers absent on Mondays.
Mefor warned that lost Mondays cripple revenue collection and productivity, rejecting alternatives like Saturday shifts as capitulation to agitators.
News
Stakeholders Demand Stronger Governance and Infrastructure to Drive Tech Adoption @ Lagos AI Summit

As AI adoption accelerates across Nigeria, leaders at the “AI in Action Now” conference 2026 have called for a balance between rapid innovation and strict regulatory governance. The event, held at the Lagos Oriental Hotel, highlighted both the doggedness of Nigerian builders and the risks of unregulated data usage.

Dotun Adeoye, Co-Founder of AI Nigeria, raised alarms over “Shadow AI”, a trend where employees upload sensitive official documents to public AI platforms. He praised the Nigerian Data Protection Commission (NDPC) for its recent aggressive stance, including multi-million-dollar fines against major banks and social media brands.
“Innovation without governance is dangerous. The regulator now has the job of educating players. We are working in partnership with them to ensure players don’t just get fined, but actually understand how to protect data locally rather than storing it abroad, ” Adeoye noted.
Addressing issues of lack of infrastructure to carry AI adoption, Conference Convener Debola Ibiyode admitted that while Nigeria lacks the traditional foundation for AI adoption, the tech community cannot afford to wait.

“The simple answer is we don’t have the infrastructure, but Nigeria has never really had infrastructure to drive anything, and we still thrive, ” Iboyode said, encouraging students and builders to look beyond current limitations. “Once we start to build based on what we have now, it will encourage those who need to provide the infrastructure to do their part. The world will not wait for us,” she insisted.
To bridge this gap, she highlighted the AI Foundry Africa, an incubator designed to mentor ideas into market-ready products.
Meanwhile, speaking to journalists on the sidelines, Biodun Ogunleye, the Lagos State Commissioner of Energy and Mineral Resources, echoed the sentiment that the government’s role is to facilitate the right environment through partnership. He emphasized that data generated from interactions with the government must have long-term value.
“We must ensure that in all facets from production to interaction with government, the tools required to ensure data has value are appreciated,” Ogunleye stated.
He concluded that through private-sector collaboration, the government can focus on its primary functions while leveraging AI to ensure the nation aspires for the future.
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