General News
ECA Put Looted Funds from Africa @ $1 Trillion

Carlos Lopez , executive secretary, UN Economic Commission for Africa, said on Wednesday in Addis Ababa that over one trillion dollars was illegally siphoned out of Africa in the last 40 years.
Lopez said this at the opening of a two-day Senior Policy Seminar on Capital Flight and Tax Havens in sub-Saharan Africa.
The seminar was organised in collaboration with African Economic Research Consortium with the theme “Capital Flight from Africa”.
Lopez, therefore, called for measures to reverse the trendof illegal financial flows away from Africa.
He said Africa’s fiscal policy space had been compromised by the shortage of resources as capital flight was hidden from authorities, limiting Africa’s growth.
He said that said researchers had indicated that the siphoned capital would have expanded the continent’s growth by 60 per cent with a per capita growth of 15 per cent higher than what is currently obtained.
According to him, capital flight has impacted negatively on Africa’s saving ratios by denying local investors access to financial resources that could otherwise have been used be used to generate employment.
“It is therefore critical that Africa addresses the issues of capital flight, not only to ensure that money made in Africa stays on the continent, but contributes to financing Africa’s transformation agenda.
“Africa must ensure an enabling business environment and attractive investment climate through proper sector management, policy coordination and effective service delivery, to attract more investments,” Lopez said.
He said that for the fight to reduce the flight of funds and check direct losses of capital from the continent to be won, there was an urgent need to address the factors responsible for capital flight such as real exchange rate over-valuation.
The ECA boss also called for measures to promote African-owned private equity funds and other financial services to encourage capital to remain on the continent.
He observed that the continent’s private equity industry valued at about 30 billion dollars was thriving, with some 38 private equity funds invested in infrastructure including toll roads, dams and airports.
According to him, such investments outperformed listed stocks in the last four years.
Lopez said African bond issues had flourished in international market, through relatively new and limited countries including Nigeria, Ethiopia, South Africa and Zambia.
He said that in such countries, infrastructure bonds were over-subscribed by about 15 times.
“To make Africa’s bonds perform better, there is the need to ensure superior returns, low borrowing costs, appropriate fiscal incentives and credit guarantee facilities to protect against default.“
Nigeria’s IbI Ajayi of the University of Ibadan, is expected to chair a session on Illicit Financial Flows and Problems of the Net Resources Transfers from Africa, on Thursday.
General News
Leo Stan Ekeh Foundation to Open Portal for 1,000 University Tech Scholarships on Monday

The Leo Stan Ekeh Foundation (LSEF), in collaboration with TD Africa, Konga Group, Zinox Technologies, and Task Systems, is set to officially launch its highly anticipated scholarship programme aimed at empowering 1,000 exceptional Nigerian indigent whiz-kids in the field of technology.

Leo Stan Ekeh
The dedicated application portal, initially scheduled to go live on April 22, will now launch on Monday, April 27, 2026, following final technical enhancements to ensure a seamless, secure, and transparent application experience for prospective candidates nationwide.
This landmark initiative, first announced by Leo Stan Ekeh, Africa’s foremost tech icon and chairman of Zinox Group, forms part of his unwavering commitment to national development and youth empowerment.
The programme was unveiled on February 22, 2026, when Ekeh marked his 70th birthday. Rather than host an elaborate celebration befitting a man of his stature, he chose to channel resources into a cause that would create long-term impact for an economy, offering university scholarships to indigent but brilliant Nigerian youths to study Computer Science in federal institutions.
Building on a legacy of over 6709 beneficiaries trained over four decades by him and his companies, Mr. Ekeh at the time said the goal is to nurture a new generation of highly skilled technology professionals capable of supporting both the private and public sectors, while positioning Nigeria for greater competitiveness in the global digital economy.
This vision reflects his decades-long commitment to building sustainable positive disruptive capacity within Nigeria’s technology ecosystem that shall alter the nation’s GDP.
The scholarship programme is designed to transcend mere financial support, offering beneficiaries access to a comprehensive ecosystem powered by the initiative’s distinguished partners. Beneficiaries will receive technical support, mentorship by very successful members of Nigeria Compute Society, and industry exposure to ensure that recipients are equipped with practical, market-relevant skills.
This multi-faceted approach ensures that scholarship beneficiaries gain not only theoretical knowledge but also hands-on experience and professional networks that will propel their careers in technology.
By leveraging the combined expertise and infrastructure of these industry leaders, the initiative is poised to deliver a transformative learning experience that prepares young Nigerians to compete effectively on the global stage. Beneficiaries will emerge as future-ready innovators capable of driving digital transformation across sectors and contributing meaningfully to Nigeria’s economic growth.
The initiative builds on the longstanding legacy of Leo Stan Ekeh, whose contributions to Nigeria’s technology landscape and by extension Africa have spanned decades and fundamentally reshaped the nation’s digital infrastructure. From pioneering indigenous computer manufacturing through Zinox Technologies to driving digital transformation across public and private sectors, Ekeh has consistently demonstrated a commitment to building sustainable technological capacity within Nigeria.
His investments in digital infrastructure, talent development, and indigenous innovation have positioned Nigeria as a formidable player in the global technology landscape.
This scholarship programme represents the latest chapter in that transformative journey, directly addressing the critical need for skilled technology professionals in an increasingly digital global economy.
As anticipation builds ahead of the April 27 launch, interested applicants are advised to visit the Konga.com website and click the Foundation banner on 1000 Tech Scholarships Awards where the application link and detailed participation guidelines will be published on the launch date. The organisers have assured that the selection process will be merit-driven, inclusive, and transparent, with a focus on identifying truly outstanding young talents from across Nigeria’s diverse regions.
General News
US Library Blames Hackers for Viral Posts Urging Violence in Nigeria

Westerville Public Library, a public library that serves the community of Westerville, Ohio, a suburb of Columbus in United States is in the news after its social account urged violence against Nigerian politicians.

Library staff said the inflammatory messages were not written by any employees and moved quickly to purge the feed and regain control of the account, rattling regulars who are used to the library’s usually low-traffic presence in Uptown Westerville.
The Columbus Dispatch reported that the library’s X account first posted a message calling for the death of Nigerian politicians, starting with the country’s president.
According to the paper, most of those posts were wiped from the feed within about half an hour.
The Dispatch also noted that the account had been sitting dormant since 2024 before the violent statements suddenly went live, and its full report includes the timeline and language that circulated on the platform.
After the posts appeared, the library issued a short note on X that read, “Please disregard any recent posts you may have seen from the Westerville Library on this platform today. Thank you for your understanding.” As reported by The Columbus Dispatch, communications director Tamara Murray told the paper the account was hacked shortly before the messages were published and that staff were working to recover passwords.
The library did not immediately say whether law enforcement had been notified.
General News
IshowSpeed’s African Tour was ‘Spy Job,’ for Elon Musk- Seun Kuti

Oluseun Anikulapo Kuti, popularly known Seun Kuti, Nigerian musician, has claimed that IShowSpeed, American streamer’s African tour was was funded by Elon Musk, billionaire tech mogul.

Seun Kuti
According to the singer and the youngest son of Fela Kuti, Afrobeat pioneer, the tour aimed at testing the reach of Musk’s satellite across the African continent.
Seun Kuti also explained that the streamer’s tour was not just to see the beauty of Africa, but was a spy job for Elon Musk.
”They all have the agenda. All that was a spy job for Elon Musk. I hail him and we have our own people pursuing him with us“, he added.
IShowSpeed completed a landmark 28-day tour of Africa, visiting 20 countries between December 29, 2025, and January 27, 2026, aimed at experiencing local cultures and engaging with fans.
The trip, which featured live-streamed visits to nations including Nigeria, South Africa, and Ghana, saw him surpass 50 million subscribers. He described the experience as life-changing.
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