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FI Graduates 20 New Founders as Cohort III Closes

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After a rigorous 14 weeks of business mentoring program, twenty startups made it to the Founder Institute Alumni Group out of almost three scores that started the program in the cohort III class.

The graduation event was held virtually with all stakeholders present, Chukwuemeka Fred Agbata (CFA), regional director; Chika Nwogu, associate director; Ifedy Eze, legal director; Fasuyi Olarotimi and other members of the Institute were on ground to celebrate with the new founders.

At the event tagged; “Leadership and Celebration” graduating founders from across the African Ecosystem were present and they all shared their success stories and their future plans going by the ideas they took away from Founder Institute.

Samuel from Uganda partook in the FI experience, he spoke about his challenging period during the 14 weeks exercise.

He pointed to the fact that he had no background in sales and had a problem growing from zero to something.

He also pointed out that he was a non-technical founder and the program made him grapple with the tech angles to his business.

Ogechi, another successful founder said she sacrificed sleep and had to do a lot of catching up to complete the 14 weeks exercise.

In her words “CFA kept hammering that he doesn’t think I will survive this program and that actually fuelled my resolve to see it to the very end”.

Although “tough and demanding” the exercise was worth it especially in the new order we are.

Mrs. Adenike Adeyemi of Fate Foundation commended the new founders for taking the deliberate decision to venture and complete the exercise even in this interesting year.

According to her, it is only an intentional person that can do this and see it through.

Speaking on leadership she said; “leadership from my personal angle means being responsible for the actions I take and not blaming others for whatever happens”.

She advised the founders to understand their team, identify their individual strengths, and zero in on ways in which the team can be driven for organizational growth.

She said; “there is no end to learning and as such we must always have ways to relearn and continually improve by having accountability points with whom we can be frank”.

Jim in his address advised founders to take humility seriously as it opens door of opportunities every time.

He said humility, determination, and passion are capable of taking entrepreneurs to whatever height they desire.

According to Jim, these attributes will not only make them conform to the new normal but will also keep them focused in these uncertain times.

Bunmi, another fresh founder gave her 14 weeks of experience in an emotion-laden manner while reacting to the moderator’s questions.

Bunmi spoke about how she felt she would not make it to the end of the exercise while expressing her satisfaction with the ability to establish a brand new network after the rigorous exercise.

“It is not enough to be a member of FI and graduate, the most important thing is the knowledge gained in the process and having people like Wande and CFA groom you even though the feedbacks were mostly brutal”.

Seun an Alumnus of FI also had few words with the new founders just before welcoming them to the Alumni group.

Seun walked the new members through the benefits inherent in being a member of the great network.

He mentioned collaborations as one of the greatest strategic windows available to them.

He also clarifies that being an FI graduate goes beyond fundraising as there are opportunities for growth.

Chika Nwogu, one of the Directors of the Institute advised the new founders to immediately begin to pay attention to structures and processes relating to their lines of businesses.

According to her, it is quite easy to get distracted with funding. “See yourself as a CEO with a trans-generational business and not just a startup,” she said.

While closing the virtual graduation ceremony, CFA, the regional director of Founders Institute felicitated with the new founders and reiterated that he understands how tedious the exercise was but the participants must understand that it was all intended for all-around sustainable development.

He hinted that the current class was mentored with curriculum four but curriculum five is launching early 2021 and will accommodate the lessons and realities of Covid-19 as it relates to the new normal.

CFA also made it clear that the Founders Institute has birthed over 200 thriving companies across the Nation.

In his words; “We are looking at a situation where we can have a great Intra FI business network”.


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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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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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Study Shows 38% of Northern Women Lack Access to Financial Services

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A new study by Bayero University, Kano, has found that 38 per cent of women in Northern Nigeria do not have access to financial services.

The study, carried out by the Aminu Kano Centre for Democratic Studies of the university, was supported by the Gates Foundation. It examined how social norms and behavioural factors influence financial inclusion across the 19 Northern states.

The report, titled “Understanding Influence and Behaviour in Northern Nigeria” and unveiled in Abuja on Wednesday, stated that while 52 per cent of women are financially served, only 45 per cent access formal financial services through deposit money banks, merchant banks, interest-free banks and microfinance institutions.

It stated that “38 per cent of women across the region lack access to financial services. “52 per cent of women are financially served, while 45 per cent access formal financial services through Deposit Money Banks, merchant banks, interest-free banks and microfinance institutions. An additional seven per cent utilise other formal non-bank financial products, including insurance services. ”

Speaking at the unveiling, the Director of Academic Planning at Bayero University, Prof. Yusuf Garba, who represented the Vice Chancellor, Prof. Haurna Musa said the research was designed to uncover why the region lags in financial access.

“This study, which started in 2024, aims to examine how social norms influence attitudes and behaviour of various groups across Northern Nigeria, particularly to find out why states in the region fall behind in access and use of financial services,” he said.

Garba explained that the research, conducted over 18 months, produced two volumes detailing how influence structures, trust hierarchies, gender norms, and religious considerations shape decisions around finance, health and education.

He added, “The report is structured into volumes to provide a unified explanation of how social norms, authority structure, and trust shape financial behaviour across Northern Nigeria.”

On the findings, the Principal Investigator, Prof. Ismael Zango, said the data aligns with figures from the National Bureau of Statistics, particularly on poverty and unemployment.

According to him, “unemployment in the region stands at about 37 per cent,” while “poverty levels average about 80 per cent across Northern Nigeria, with Sokoto State recording the highest rate at over 80 per cent.”

Zango stressed that addressing financial exclusion requires more than temporary interventions.

“Economic empowerment must go beyond token financial support,” he said, adding that “sustainable development requires equipping women and youths with relevant, market-driven skills.”

He cited women-led initiatives such as groundnut processing groups in Kebbi State and the Women in Agriculture programme in Kano State as practical models.

“These initiatives should be scaled up to bring more people into productive economic activities and reduce poverty,” he said.

In her remarks, the Chief Executive Officer of Enhancing Financial Inclusion and Advancement, Mrs. Foyinsolami Akinjayeju, described financial inclusion as both an ethical and economic imperative.

Akinjayeju called for stronger collaboration among stakeholders, including government, financial institutions and development partners, as well as policy reforms to address existing gaps.

“Everyone has a role to play, but commitment must come from the top,” she said.

The findings come amid growing concerns over low financial inclusion rates in Northern Nigeria, driven by poverty, unemployment, and entrenched social norms that limit women’s economic participation.


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CISA Asks NDPC, Police to Act on Alleged Data Breach by NIPSS

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Citizens Initiative for Safety Awareness (CISA), advocacy group focused on security, data protection, and counter-terrorism, has urged the Nigeria Data Protection Commission (NDPC) to provide an update on a petition alleging a cybersecurity breach and unlawful access to private communications involving officials of the National Institute for Policy and Strategic Studies (NIPSS).

CISA Asks NDPC, Police to Act on Alleged Data Breach by NIPSS

Mr Chidi Omeje, national coordinator, in a letter dated April 10, 2026, observed no response from the commission so far.

Filed on July 1, 2025, by Mr Yushau A. Shuaib, the petition claims unauthorised access, interception, and use of private digital correspondence belonging to him and PRNigeria, his company.

The complaint named Barrister Nima Salman Mann, Rear Admiral Abubakar Abdullahi Mustapha, and Professor Elias Wahab concerning the alleged breach. Such incidents are outlined in the Nigeria Data Protection Act (NDPA) 2023, regarding data privacy, cybersecurity safeguards, and the protection of sensitive information.

CISA said if confirmed, the alleged actions contravene Nigeria’s data protection framework, with implications for data governance, safety of confidential media sources, and public trust in institutions.

It requests the NDPC to clarify the status of the probe, disclose any interim findings, and cite measures to prevent similar breaches.

The organisation believes the matter has evolved beyond an individual complaint, describing it as a test of the government’s commitment to enforcing its data protection laws, especially within ministries, departments, and agencies.

CISA also appealed to Tunji Disu, inspector general of Police, to order an investigation into the alleged cybercrime.

In a statement,  Omeje criticised the “prolonged delay” by the Force Criminal Investigation Department (FCID) in acting on a petition submitted since June 2025.

The group said, despite “credible evidence,” the police had yet to invite or question the individuals mentioned. Pointing out that two of the officials share membership in the National Institute (mni) with the former DIG at the FCID, CISA raised concerns about a possible conflict of interest.

Omeje clarified that the petition was different from the civil suit at the Federal High Court over Mr Shuaib’s withdrawal from the NIPSS programme.

“An elementary legal principle holds that a civil suit cannot be a bar to criminal investigation or prosecution,” he noted.

CISA called on the police to act in accordance with due process, advising the authorities to uphold the rule of law and restore public confidence.

It contends that failure to act decisively could erode trust in law enforcement and reinforce perceptions of a two-tier justice system.


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