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AfDB Approves $1.3 million Grants to Enhance Women’s Digital Access to Loans and Micro-insurance

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The African Development Bank, AfDB, has approved two grants for research that will increase African women’s access to a range of digital financial services including loans and micro-insurance.

The grants, for $1 million and $300,000 respectively, will be disbursed through the Africa Digital Financial Inclusion Facility, a blended finance vehicle supported by the Bank, to two financial technology firms, Pula Advisors Kenya Ltd., and M-KOPA Kenya Ltd.

Pula Advisors will use the $1 million for research of social, cultural and economic factors that impact women farmers’ access to micro-insurance in Kenya, Nigeria and Zambia.
Research findings will inform the design and implementation of gender-centric insurance products. The project will be undertaken over a 3-year time frame.

“This grant funding will be used to leverage technology to develop innovative and responsive loan and insurance products that can spur productivity and inclusion, especially for our women smallholder farmers and traders.” said Sheila Okiro, the Bank’s Coordinator for ADFI.

The three-year project will have three phases: product development; piloting; and scaling; the outcomes are expected to benefit 360,000 farmers, 50% of them women, as well as boost farm yields by up to 30%. This will also raise incomes and enhance household and national food security.

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M-KOPA will use the $300,000 grant funding for research involving 250 women and 250 men in Kenya’s Kisumu, Eldoret and Machakos counties. The company will assess the barriers to and opportunities for women’s access to digital financial services and financial literacy programmes via smartphone, and use the research insights to design a financial services app that is relevant to small-scale women traders.

The project, approved by the Bank on 9 February, 2021, will benefit women with no or limited access to financial services that run small informal businesses. Once developed, the mobile app will be used to pilot small loans to the women traders.

Both projects align with ADFI’s digital products and innovation and capacity building intervention pillars as well as its cross-cutting focus on gender inclusion, a thematic running across all its interventions.

The PULA grant approval meets African Development Bank strategic goals, including the Ten-Year Strategy, two High-5 priority areas—feed Africa and improve the quality of life for Africans— and the financial inclusion strategies of Kenya, Nigeria and Zambia.

The M-KOPA project is aligned with the Bank’s Affirmative Finance Action for Women in Africa (AFAWA) program that seeks to increase access to finance for women.

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ADFI is a pan-African initiative designed to accelerate digital financial inclusion throughout Africa, with the goal of ensuring that 332 million more Africans, 60% of them women, gain access to the formal economy.

The Facility was formally launched in June 2019 at the Bank’s Annual Meetings in Malabo, Equatorial Guinea.

Current ADFI partners are the French Development Agency (AFD); the French Treasury’s Ministry of Economy and Finance; The Government of Luxembourg’s Ministry of Finance; the Bill and Melinda Gates Foundation; and the African Development Bank, which also hosts the fund.

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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Adebutu, PDP Chieftain Accuses Nigerian Governors of Embezzling LG Allocations 

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Oladipupo Adebutu, Peoples Democratic Party (PDP) governorship candidate in Ogun State, has alleged that all state governors in Nigeria are benefiting from and misappropriating local government allocations.

Adebutu, PDP Chieftain Accuses Nigerian Governors Embezzling LG Allocations 

Oladipupo Adebutu

Adebutu made the remarks at the Ake Palace in Abeokuta during a meeting with the Egba Traditional Council, where he sought the support and blessings of traditional rulers for his governorship ambition.

He was accompanied by his running mate, Lateefat Sowunmi-Kolapo; the PDP senatorial candidate for Ogun Central, Iyabo Obasanjo; the Ogun State PDP Chairman, Abayomi Tella; and other party leaders and candidates.

Addressing the traditional rulers, Adebutu declared that granting full financial autonomy to local governments would be one of the defining policies of his administration.

“I will do something that will stun this nation and put us in the right direction. Local governments shall get their own money,” he said.

He added: “We must make sure we get local government autonomy. I have been reiterating to you that I, Oladipupo Olatunde, son of Adebutu, was at the National Assembly twice, and I can boast that I didn’t embezzle public funds. How many politicians can say this?”

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Adebutu accused governors across party lines of diverting local government funds.

“It’s not a party thing. Both APC and PDP, all the governors are embezzling local government allocations. It’s not a secret,” he said.

He argued that local councils were able to deliver more development when they had greater control over their finances.

On infrastructure financing, Adebutu said governments must adopt new approaches rather than relying on borrowing.

“You don’t borrow money for infrastructure anymore,” he said, while promising to construct roads that would improve connectivity between Ogun State and Lagos.

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In his remarks, Abayomi Tella, State Chairman of the PDP,  lamented that the local government system in the state is in a state of collapse, recalling that as a former council chairman, he received N200 million as an allocation and used it to construct four roads within his local government.

He expressed concern that the current local government chairmen cannot point to any project of similar impact, attributing the situation to a lack of financial autonomy.

The PDP chairman said he strongly believes in Adebutu’s advocacy for local government autonomy, stressing that Adebutu is prepared and ready to lead the development of Ogun State.

Sowunmi-Kolapo, deputy governorship candidate, called on her kinsmen to support her political aspiration, noting that she has continued to support the development of Egbaland.

Also speaking, Iyabo Obasanjo, PDP candidate for Ogun Central Senatorial District, said that after leaving the APC following her unsuccessful governorship bid, she came to believe that Adebutu has the vision and political will to actualise her aspirations and manifesto for the people.

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Obasanjo further noted that no political party has a more formidable team in Egbaland than the PDP, urging Egba monarchs to throw their weight behind the party in the interest of the people.

In his welcome address, the Alake and Paramount Ruler of Egbaland, Oba Adedotun Aremu Gbadebo, described Adebutu as “trustworthy and reliable,” declaring his support for the party’s flag bearer ahead of the 2027 governorship election.

The Alake recalled his long-standing relationship with Adebutu’s father and expressed confidence in Adebutu’s character and leadership qualities.

“The son of a lion must resemble the lion. In fact, he is an even better version of his father,” Oba Gbadebo said.

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ICPC Secures Final Forfeiture of N941m Linked to IPPIS Fraud

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Federal high court in Abuja has ordered the final forfeiture of N941,994,079.86 linked to suspected ghost workers uncovered in the integrated payroll and personnel information system (IPPIS) to the federal government.

ICPC Secures Final Forfeiture of N941m Linked to IPPIS Fraud

IPPIS is a centralised payroll system the federal government introduced to manage the salaries of federal public sector employees.

Binta Nyako, presiding judge, gave the order following an application filed by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

“That an Order is hereby made for the Final Forfeiture to the Federal Republic of Nigeria the Sum of N941,994,079.86 seized during investigation into the IPPIS Payroll scam in the year 2024,” Nyako ruled.

Okor Odey, ICPC spokesperson, announced the forfeiture in a statement issued at the weekend.

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The ICPC spokesperson said investigations by the commission uncovered “large-scale payroll fraud involving hundreds of non-existent public servants, with a total sum of N941,994,079.86 traced to accounts linked to the scheme”.

Odey said a review of the IPPIS conducted in 2023 revealed the “existence of numerous “ghost workers” embedded within the payrolls of several Ministries, Departments and Agencies (MDAs)”.

According to him, following the findings, President Bola Tinubu approved a “comprehensive audit” of the IPPIS.

He added that a joint investigation between the ICPC and the office of the accountant-general of the federation in April 2025 led to the discovery of 587 suspected ghost workers on the IPPIS platform.

“Investigations revealed that fictitious IPPIS identities had been created for non-existent personnel across multiple MDAs, with salaries paid over extended periods into accounts belonging to individuals and companies,” Odey said.

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“In many cases, the account names did not correspond with those of the purported employees, while some accounts received multiple salary payments simultaneously.”

The ICPC spokesperson said the agency placed post no debit (PND) restrictions on all identified accounts to freeze the funds suspected to be proceeds of fraud.

He said the affected MDAs include the Nigeria Police Force (NPF), federal ministries of defence, education, agriculture and rural development, works, water resources, and interior.

Others are National Board for Arabic and Islamic Studies, University of Benin, University of Calabar, University of Nigeria, Nsukka, University of Maiduguri, Ahmadu Bello University, Zaria, and the office of the accountant-general of the federation.

The ICPC spokesperson said 120 civil servants were cleared after their identities and employment status were confirmed following a verification exercise in 2025.

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He added that 467 bank accounts remain linked to unverified individuals with holders yet to be identified.

He noted that the N941.9 million currently frozen in the 467 bank accounts has been forfeited to the federal government.

He disclosed that the agency published the names of the 910 individuals suspected to have benefited from the purported fraud in two national dailies on March 18, 2026.

 

 

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NIMASA Unveils Accelerator Scheme to Drive Innovation, Sustainable Growth

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The Nigerian Maritime Administration and Safety Agency (NIMASA) has introduced the Blue Economy Accelerator Programme, a strategic initiative designed to identify, nurture, and accelerate innovative startups that will contribute to the sustainable growth of Nigeria’s marine and blue economy.

The Blue Economy Accelerator Programme is aimed at attracting young, vibrant minds with innovative ideas capable of transforming Nigeria’s maritime ecosystem.

Dr. Dayo Mobereola, Director-General of NIMASA, said that through the initiative, participants will receive structured business development support, industry mentorship, and technical guidance to convert promising concepts into viable ventures that address critical challenges and opportunities within the blue economy.

“The programme reflects NIMASA’s commitment to supporting the implementation of the vision of the Federal Ministry of Marine and Blue Economy in unlocking the immense potential of the blue economy by empowering young innovators, entrepreneurs, and technology-driven enterprises. We at NIMASA want to provide a platform for investors to identify young talents and invest in them”.

Mobereola, who commended the Minister of Marine and Blue Economy, Adegboyega Oyetola for codifying the Marine and Blue Economy Policy as a clear roadmap for the sector’s development, urged young Nigerians to embrace the programme which has the potential to transform raw talents into big investments in the maritime sector.

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Applications are open to startups and innovators developing solutions across several strategic sectors, including marine waste management and the blue circular economy; aquaculture and sustainable fisheries; maritime technology and logistics innovation; ocean energy including wave, tidal, and offshore renewable energy; marine tourism and coastal recreation; marine biotechnology such as, ocean data and analytics; green shipping, including vessel decarbonization; smart port solutions; autonomous marine vehicles; biofouling prevention technologies; and coastal resilience through nature-based coastal defencesolutions.

The first phase of the programme is expected to attract a minimum of 150 high-quality applications from within and outside the country provided they are Nigerian citizens.

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