News
Buhari Sacks Jaja, NCC Chairman

President Muhammad Buhari has approved the removal of Mr Tonye Clinton Jaja, board chairman of the Nigerian Copyright Commission (NCC).

Mr Tonye Clinton Jaja
According to a letter dated October 15, by Dr Dayo Akpata, SAN, solicitor general, Jaja’s removal was with immediate effect.
Jaja was directed to handover all property of the commission to the Director General, John Asien.
“Wishing you success in your future endeavours. Please accept the assurances of warn regards and best regards,” the letter reads.
No reason was given for the removal.
The board was inaugurated on 28 May 2019 by Abubakar Malami, minister of Justice.
NCC is the government agency that enforces copyright laws and regulates the creative industry.
Jaja had in September raised the alarm over alleged threat to his life by agents of John Asein, ddirector general of the agency..
He disclosed that an unnamed member of the NCC Governing Board had threatened his life through phone calls and SMS messages.
The sacked Board Chairman, who made the claim in a statement, titled: “Notification of threats to my life and reputation in the line of duty as chairman of the Governing Board of the Nigerian Copyright Commission,” said the development followed statements he submitted to the Code of Conduct Bureau and the Independent Corrupt Practices and other related offences Commission as part of ongoing investigations into allegations against Asein.
According to Jaja, Asein is being investigated over alleged conflict of interest and abuse of office, among other offences.
The chairman of the NCC Governing Board also alleged that Asein and his agents have vowed to destroy his reputation through publications in the media.
The statement read: “Yesterday, I received a verbal threat during a telephone call and an SMS from one member of the Governing Board of the Nigerian Copyright (NCC).
“In a nutshell, he threatened that he will use online newspapers and other means to disgrace me and rubbish my reputation.
“His annoyance and threats is not an isolated incident, it is part of a coordinated onslaught of threats, publications of propaganda and other acts of reprisal targetted against me in my capacity as the Chairman of the Governing Board of the Nigerian Copyright Commission (NCC).
“The persons behind this have gone to the illegal extent of forging certain documents and leaking government official documents to Online newspapers in their desperate attempts at smearing my hard earned reputation.
“The Office of the Inspector-General of Police is currently investigating one of such incidences.
“All this smear campaign is because I was invited by the Code of Conduct Bureau and the ICPC as part of their investigation of Mr John Asein the Director-General of the Nigerian Copyright Commission (NCC) whom they are investigating for allegations of conflict of interest and abuse of office, etc.
“As a responsible and law-abiding citizen, who could not disobey the invitation of the ICPC and the Code of Conduct Bureau, I went to the High Court of the Federal Capital Territory (FCT) and deposed to an affidavit to confirm the veracity of the written and oral statements that I submitted to the Code of Conduct Bureau.
“Instead of these persons to apply the same steps of going before the High Court of the Federal Capital Territory (FCT) or any other court of Justice in Nigeria to swear an affidavit and oath on the pain of perjury, in support of any statements they are making, they have resorted to peddling fake news, falsehood and false, unsubstantiated allegations through the pages of online newspapers and other social media platforms.
“In recent times, their anger and onslaught has intensified because their attempts to “kill” and “bury” the investigations proved abortive considering that the ICP
News
EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud


EFCC
News
AfDB Supports Francophone Africa Start-ups with €6.5M

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

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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