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FG, Microsoft Partner to Empower 100 Youth, Development Officers Nationwide
The Federal Ministry of Youth Development, Centre for Information Technology and Development (CITAD) and the Digital Bridge Institute have commenced an entrepreneurship development capacity building programme for some selected 100 Youth and Youth Development officers in the country, as part of a broad Microsoft effort to increase access to technology and technology skills, the software giant in collaboration with`
Holding at the Digital Bridge Institute, Abuja, the training is coming under the auspices of Microsoft’s Public Institutions Capacity Development programme and is designed to train participants on IT-based youth development programme, prepare them to become facilitators for entrepreneurship development as well as facilitate the development of a model youth development programme for the Federal Ministry of Youth Development.
Speaking on the collaboration, Senator Akinlabi Olasunkanmi, minister of Youth Development, who was represented by Ms. Anne Ene-ita, permanent secretary of the Ministry, , said Public Private Partnership is fundamental in effectively advancing the use of ICT tools, while emphasizing that the training ties in with the Ministry’s mission to reduce unemployment in the country using ICT education as a catalyst.
He thanked Microsoft saying, “This cooperation is an example of a Private Public Partnership that can affect real and tangible change. He acknowledged the fact that participants would surely benefit from the programme and similar initiatives between his ministry and Microsoft.
The curriculum focuses on ICT entrepreneurship, ICT businesses, setting and running of small scale enterprises, finance and procurement, sales and marketing, e-Mentoring, and ICT for small scale enterprises among others.
High ranking instructors were drawn from CITAD and they include Y. Z. Ya’u, executive director of CITAD and Mr. Rima Shawulu, secetrary general of ITAN, , an IT entrepreneur, Ahmed A. Yakasai, Enigneer Kamal Umar, Umar Farouq Uthman, a beneficiairy of DFID supported youth mentorship programme, and Isyaku Garba.
Y. Z. Ya’u introduced the class first to the prospects of ICT-based enterprises in Nigeria. He enumerated the various factors accelerating the demands of ICT goods and services in the country which could only be met by getting people to establish ICT-based enterprises.
Rima Shawulu facilitated the module on ICT-based businesses, taking the participants through various types of small scale IT business. In doing this, he also identified the requirements and the processes for setting up these businesses.
The module on Small Scale entrepreneurship was facilitated by Y. Z. Ya’u, taking the participants in a participatory manner through topics such as developing business idea, translating this idea into a business through developing a business plan, determination of business set up needs, sources of support, managing the business, communication and financial management, etc.
The module on ICTs for small scale business focused on how young entrepreneurs could use ICTs in setting up and running their enterprises, using for financial management, administration, communication, marketing and business promotion. This was taken by Isyaku Garba.
Engineer Kamal Umar and Umar Farouq Uthman took the participants through various IT skills such as advanced internet uses, digital editing, virtual office space, etc so as to deepen the appreciation of the participants of the various skill sets needed for the new IT-based businesses.
Trainees also had opportunity to peruse the functions and workings of business and ICT regulatory agencies such as SMEDAN, NITDA, NCC and CPN to enable them know the specific requirements for setting up small scale enterprises in the sector.
Explaining the motivation for the programme, Dr. Jummai Umar-Ajijola, citizenship manager, Microsoft Anglophone West Africa said, “Nigerian youths have the potential to perform at optimum capacity but for a number of factors which include lack of proficiency. With the right skills that this capacity training will afford participants, we are confident that they would be able to effectively deploy work tools that will enhance their performance.” She enjoined participants to make the best use of the opportunity.
A trainee, Ms Helen Taghtegh from the Ministry of Youth, Benue State, commended Microsoft’s efforts at encouraging technology penetration.
As part of the project, the partners have developed an appropriate training content that would be made available to ministries and other stakeholders that are interested in running youth development programmes.
Participants for the 10 day event which commenced on the 3rd of May 2010, and will end on the 14th of May 2010, were drawn from the Federal Ministry of Youth Development, the National Youth Council of Nigeria and other youth. Nominations also came from all state Ministries in charge of youth development while some youth focused NGOs were also represented.
The training is one of the several partnership initiatives currently being run by Microsoft. Another is the Partners in Learning under the Unlimited Potential Programme which aims to transform education, foster local innovation and create jobs and opportunities. There is also the Youth Employability Programme which Microsoft has supported through a number of NGOs including CITAD, which have trained thousands of youths in ICT and life and employability skills over the last three years in the country.
Xora Finance has announced it will no longer consider job applicants from Nigeria.
Xora Finance is a digital bank founded by Joren Lundgren, in February 2026 and allows users to deposit and earn interest on their XRP cryptocurrency.
Lundgren, founder, in an announcement on X (formerly Twitter), cited an ongoing pattern of misconduct, such as dishonesty and theft, from previous Nigerian hires as the reason for the decision.
This sudden blanket ban came just days after the company’s official career page was aggressively recruiting remote workers for marketing and content roles.
The announcement generated heavy backlash online, with many people upset that a blanket rule punishes honest job seekers.
Some lawyers have said that victims of Ponzi schemes have legal remedies, although recovering lost funds and prosecuting perpetrators remain major challenges.
A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new participants rather than from actual profits.
Operators lure victims by promising high returns with little to no risk.
The scheme inevitably collapses when the flow of new investors slows down.
Some lawyers who spoke to News Agency of Nigeria (NAN) separate interviews with on Sunday, said that victims could pursue civil actions to recover their money.
Mr Chibuikem Opara, a lawyer at Justification Chambers, Ikeja,said many Nigerians continued to fall victim to Ponzi schemes in spite of repeated warnings.
Opara said it was wrong to attribute participation in Ponzi schemes to a lack of investment opportunities, noting that promoters often exploit investors’ greed through promises of unrealistic returns.
“What you cannot take away is the fact that many Nigerians have fallen and continue to fall victim to these schemes every time,” he said.
According to him, victims may individually or collectively institute civil actions against the beneficiary company for breach of contract or refund arising from failure of consideration.
Opara said victims could also unite to seek an order from the Federal High Court to wind up the beneficiary company.
He, however, noted that such efforts might yield little benefit if perpetrators had already siphoned the funds and left behind an empty shell.
The lawyer said available remedies largely depended on the actions of relevant authorities, adding that recipient accounts could be frozen to facilitate fund recovery and support winding-up proceedings.
Opara said regulators and law enforcement agencies often became aware of Ponzi schemes only after substantial losses had occurred.
According to him, victims frequently failed to report suspicious schemes early enough to enable timely intervention.
He added that funds are sometimes moved outside the country before authorities become aware of the fraud.
Opara also cited inadequate information and the deceptive nature of the schemes as major obstacles to investigation and prosecution.
“Most times, everything about the schemes is made to appear elusive, just like the profits promised to victims,” he said.
Also speaking, Mr Vincent Aminu of A.F. Aminu and Co. advised that victims of investment scams should report such cases to appropriate law enforcement agencies on time.
Aminu said victims could petition the Economic and Financial Crimes Commission (EFCC) or file reports with the police.
He said that after investigation, prosecutors could bring charges against suspects under relevant fraud-related laws, including provisions of the Criminal Code and the Advance Fee Fraud and Other Fraud Related Offences Act.
Beyond criminal prosecution, Aminu said .victims could pursue civil actions to recover their money
According to him, such actions may be based on breach of contract, unjust enrichment, or fraudulent misrepresentation, depending on the circumstances.
He added that victims could petition the Securities and Exchange Commission (SEC), which could investigate illegal operators, shut down unauthorised platforms, and freeze assets.
He identified the anonymity of online fraudsters as one of the biggest challenges confronting investigators.
According to him, many operators concealed their identities through fake digital profiles and technologies that made tracking them difficult.
Aminu also noted that victims who delayed taking legal action risked losing opportunities for redress.
He added that prolonged court proceedings often delayed justice for victims.
“Many fraud-related cases take years before the court reaches a verdict, thereby delaying justice for victims,” he said.
Also, Mr Chris Ayiyi of Ayiyi Chambers, Apapa, described Ponzi schemes as a gamble that benefited early participants at the expense of later investors.
Ayiyi said some early entrants received returns on their investments, thereby encouraging others to join the schemes.
He said the schemes eventually collapsed, leaving late investors to bear the losses
The lawyer called for a complete ban on Ponzi schemes or sustained public enlightenment campaigns against them.
He urged the National Assembly to enact laws that would strengthen regulation and provide greater protection for investors.
According to him, stronger legal safeguards are necessary in a country operating a capital-based economy.
PalmPay Group (“PalmPay”), a multinational fintech company providing digital financial services across high-growth emerging markets, is pleased to appoint Samuel Oluyemi as Chief Operating Officer (“COO”) of its Nigeria practice, effective immediately.
The appointment comes at a pivotal moment for PalmPay as it looks to reach more underserved communities and continuously strengthen the reliability and security of its services. It also comes as Nigeria’s broader financial services sector continues to modernize, bring millions more Nigerians into the formal financial system, and strengthen the cybersecurity and fraud-prevention standards that underpin public confidence in digital payments.
As COO of PalmPay Nigeria, Mr. Oluyemi will oversee PalmPay’s Nigerian operations — where the company provides a full suite of digital financial services to individuals and businesses — and communicate with regulators to ensure the company’s growth happens harmoniously with the country’s financial, digital, and social inclusion goals.
Mr. Oluyemi brings more than two decades of experience at the Nigeria Inter-Bank Settlement System (“NIBSS”). During his tenure as the Business Development Lead, he championed the development of key national payment services — including the Digital Validation of Nigerian International Passport (e-Passport Validation), Electronic Dividend Mandate Management System (“e-DMMS”), and the Electronic Pensions Contribution Collection System (“EPCCOS”) — and played a pivotal role in introducing and driving early adoption of NIBSS Instant Payment (“NIP”), Nigeria’s first online, real-time, inter-bank transfer system in 2011 and its subsequent extension to the Other Financial Institutions (“OFI”) segment of the Nigeria Payments System.
He holds an MSc in Monetary Economics from the University of Ibadan with extensive local and international professional training.
“Samuel joins PalmPay at an important stage in our journey to strengthen the foundations that will support our long-term goal of driving financial inclusion,” said Chika Nwosu, Managing Director of PalmPay Nigeria. “His extensive experience makes him well positioned to help us scale sustainably while maintaining the operational discipline, governance and customer-first culture that define PalmPay.”
“PalmPay has established itself as one of the most impactful fintech companies in emerging markets by making financial services more accessible and affordable for millions of people,” said Mr. Oluyemi.
“I am excited to join the company and look forward to working alongside an exceptional team to strengthen operational excellence and support PalmPay’s vision of building a leading digital financial services platform. Together, we will continue delivering secure, reliable, and customer-focused financial solutions while contributing to the continued evolution of Nigeria’s digital financial ecosystem.”
As Nigeria’s digital financial services sector continues to mature, this appointment reflects a broader commitment guiding PalmPay across all markets it serves: building financial services that are secure, reliable, and effective enough to earn a permanent place in people’s everyday lives.
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