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DBN, Grand Africa Initiative Partner to Empower 350 Nigerian Women Entrepreneurs

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Development Bank of Nigeria (DBN) and the Grand Africa Initiative (GAIN) have announced the launch of the third edition of the GAIN Entrepreneurship Masterclass for Women in Nigeria.

This transformative initiative is set to empower 350 women entrepreneurs who would be selected from across Nigeria, providing them with essential skills to foster the growth and expansion of their enterprises over a comprehensive six-week training period.

Application for GAIN Entrepreneurship Masterclass for Women (Nigeria)’ opens on September 6, 2024.

The program will include training and mentorship sessions which will be held virtually.

In a joint statement released by DBN and GAIN, it was highlighted that the Women’s Masterclass has been meticulously designed to address the unique challenges faced by female entrepreneurs in Nigeria.

The program will offer targeted support in areas such as financial literacy, strategic marketing, business modeling, legal aspects of business, structure and processes, customer management, business branding and so much more, enabling participants to fully capitalize on the opportunities available in Nigeria’s growing economy.

“At DBN, we believe that women entrepreneurs are crucial to the sustainable development of Nigeria’s economy.

“Our partnership with GAIN reaffirms our commitment to supporting women-led MSMEs by providing them with the necessary tools, knowledge, and financial empowerment to thrive.

“By addressing the specific challenges women face in business, we are creating a more inclusive and resilient entrepreneurial ecosystem.

“Through initiatives like this, we aim to close the gender gap in entrepreneurship, ensuring women entrepreneurs have equal access to resources, training, and financing” said Dr. Tony Okpanachi, Managing Director/CEO of Development Bank of Nigeria.

Janet Oladapo, the Programme Officer for GAIN commented on the continued collaboration with DBN, “We are excited for the impact that this holds as we have seen remarkable success in the previous 4 editions of our entrepreneurial masterclasses, and we are happy to extend this opportunity to more women entrepreneurs in 2024.

“This Masterclass not only offers participants high-quality training; it also provides them with opportunities to network, receive guidance from seasoned global mentors, and acquire the comprehensive knowledge needed to drive substantial growth in their businesses.”

The Entrepreneurship Masterclass aligns with the broader missions of both GAIN and DBN. Both partners remain committed to empowering African youths and women by providing them with skills and resources necessary to drive sustainable economic development across the continent.

DBN, on the other hand, continues to support Nigeria’s micro, small, and medium enterprises (MSMEs) by alleviating financing constraints and creating an enabling environment for their growth. Applicants can apply online via: https://bit.ly/GAIN-DBN


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NITDA, CAC Activate Cybersecurity Measures Amid System Concerns

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The National Information Technology Development Agency (NITDA) and the Corporate Affairs Commission (CAC) have initiated coordinated measures to strengthen cybersecurity following recent concerns affecting aspects of CAC’s digital systems.

Both agencies said they have activated response and assurance mechanisms in line with national cybersecurity frameworks to safeguard critical infrastructure and maintain service integrity.

NITDA reiterated that all Ministries, Departments, and Agencies (MDAs) must adopt proactive cybersecurity measures in compliance with the National Cybersecurity Policy and Strategy (NCPS) 2021.

The agency directed all MDAs to immediately review and reinforce their cybersecurity architecture to address emerging threats targeting government systems and sensitive data.

As part of the directive, MDAs are required to conduct comprehensive security assessments, remediate identified vulnerabilities, and strengthen access controls across critical platforms.

They are also expected to enhance data protection mechanisms, maintain effective backup and disaster recovery systems, and improve monitoring capabilities to detect and respond to suspicious activities.

In addition, there is the need for functional incident response frameworks, including prompt reporting of cybersecurity breaches for coordinated intervention.

Detailed cybersecurity guidelines have already been issued to MDAs for implementation as part of ongoing efforts to strengthen resilience across public sector digital infrastructure.

The measures are aimed at improving the overall security posture of government institutions and ensuring the continued protection of national digital assets.

NITDA reaffirmed its commitment to supporting government agencies in safeguarding digital systems and advancing cybersecurity best practices across the public sector.


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Nigeria Customs Deploys AI to Cover Revenue Leaks

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The Nigeria Customs Service (NCS) has rolled out an artificial intelligence (AI) driven capacity-building programme to improve revenue generation and reconciliation across its operations.

The initiative, unveiled during a three-day training event in Abuja, aims to transition the agency toward data-driven administration as Nigeria seeks to boost non-oil revenue.

The adoption of AI will enable the service to better manage complex trade systems, detect anomalies and reduce revenue leakages, says Bashir Adewale Adeniyi, comptroller-general of the NCS.

AI-powered tools are already being integrated into risk management and cargo scanning systems to allow for real-time analysis of trade patterns.

The technology marks a transition from manual, reactive processes to predictive and automated decision-making, Adeniyi adds.

The programme also reflects a shift in the relationship between the NCS and the National Assembly toward a collaborative framework focused on transparency and efficiency.

The training is a strategic intervention to address persistent gaps in revenue management, says Kikelomo Adeola, deputy comptroller-general of the NCS.

AI applications, ranging from automated data analysis to predictive intelligence, will significantly enhance the integrity of public financial systems, she says.

The initiative aligns with broader efforts to modernise governance and improve compliance across revenue-generating agencies, says Bamidele Salam, chairman of the House Public Accounts Committee.

Lawmakers and fiscal authorities at the event underscored the urgency of adopting advanced technologies amid rising budgetary pressures.

This move comes as the federal government increases scrutiny over revenue leakages and audit discrepancies.

The partnership between the NCS and the legislature is critical to strengthening fiscal discipline and ensuring all revenue due to the federation is accurately captured, Adeniyi concludes.


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Lagos Targets Vulnerable Residents in Expanded Social Register

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Lagos State Government has intensified efforts to strengthen its social protection framework with a fresh push to update the state’s Single Social Register.

Lagos Targets Vulnerable Residents in Expanded Social Register

Babajide Sanwo-Olu, Governor, Lagos

This was contained in a press statement on the government’s Facebook page on Wednesday.

The initiative, led by the Lagos State Ministry of Economic Planning and Budget, formed the focus of a strategic engagement held on Monday with Community-Based Targeting teams, local government coordinators and field enumerators across the state’s 57 Local Government Areas and Local Council Development Areas.

The meeting, themed “Closing the Gap: Accelerating Lagos State Single Social Register Update,” took place at the Radio Lagos Multipurpose Hall in Agidingbi, Ikeja.

Officials said the exercise is aimed at improving the accuracy and reach of the register, which serves as a critical tool for planning and delivering targeted social interventions, including financial support, healthcare and education services.

Speaking at the session, Ope George, commissioner for Economic Planning and Budget, commended field workers for their commitment while urging them to scale up their efforts.

He called on participants to be “more intentional by intensifying their commitment,” reaffirming the government’s resolve to “continuously strengthen and refine the Register to reflect evolving realities.”

Also speaking, Olayinka Ojo, permanent secretary in the ministry, described the register as central to effective governance and service delivery.

She said “it remains a cornerstone for effective planning and delivery of social intervention programmes,” adding that the ongoing update is designed to “further enhance data reliability, coordination, and service delivery outcomes.”

Ojo noted that sensitisation efforts would be expanded across all councils to ensure wider inclusion of residents, stating that “the advocacy and sensitisation will scale throughout the 57 LGAs and LCDA to give more to Lagos residents.”

According to the government, the updated register is expected to expand access to social protection programmes and improve the targeting of interventions for the most vulnerable populations.

The engagement also provided a platform for stakeholders to strengthen collaboration, improve data quality and reinforce transparency in grassroots data collection.

The state government reiterated its commitment to leveraging accurate data and partnerships to drive inclusive development, reduce vulnerability and improve living standards across Lagos.


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