E-Business
inDrive Launches New Ventures with $100m for Startups

inDrive, a global mobility and urban services platform, has announced the launch of a new venture and M&A arm, with the goal of investing up to $100 million in promising startups.
The new ventures will be led by seasoned entrepreneur and investment professional, Andries Smit who joins inDrive team as Vice President of New Ventures.
The New Ventures investments will focus on rapid growth and positive community impact with the following investment criteria that include, mission that challenges injustice, improving the lives of individuals and communities, local market startups with potential for global expansion, post-seed/pre-Series A companies with proven product market fit, rapid organic growth and healthy economics and cash flow.
Speaking on the development, Andries Smit, Vice President of New Ventures at inDrive, was quoted as saying that“Once an underdog and now a global company, inDrive is certainly an investor to watch – the team has achieved rapid global growth while remaining committed to its mission of challenging injustice,”.
Smit explained that by investing in emerging companies such as inDrive would help a great deal to improve people’s lives.
He said this bold step would further help to strengthen its commitment to challenge injustice by helping successful, but overlooked startups.
“The company is uniquely positioned to do this, leveraging its presence and fast growth in these emerging markets that have much weaker access to capital markets than developed countries,”.
“I’m thrilled to apply my own venture building and investing experience to help inDrive transform the lives of innovative founders hungry to scale up their successful businesses that contribute to a better world,” he added.
InDrive’s New Ventures unit is dedicated to helping investee and acquired companies scale quickly across inDrive’s platform.
These companies are set to gain a competitive edge by tapping inDrive’s global multi-million customer base across 45+ markets, and access to the company’s go-to-market know-how and technology.
Andries has held key strategic roles in both startup and corporate organizations, leading business transformations, acquisitions, and integrations at major corporations including Morgan Stanley and Aviva.
He has also built ventures as a partner at Stryber, a leading strategic growth partner and independent corporate venture builder in Europe, the Middle East, and the Asia-Pacific.
In his remarks, President, Mark Loughran, inDrive, also stated that the mission at the heart of New Ventures is to find overlooked, high-growth startups that may be operating outside of traditional innovation hub regions, and support their development to increase their positive impact.
Loughran stated that the newly appointed Vice President, Andries Smit, has a unique blend of corporate and venture-building experience which makes him a perfect fit to lead New Ventures, adding that he is confident that the energy and experience he brings will help us surpass our investment goals.
E-Business
CAC to Prosecute Business Owners Operating Without Registration

Corporate Affairs Commission (CAC) has reaffirmed its commitment to enforcing business registration laws in Nigeria, warning that individuals and organizations operating unregistered businesses will face prosecution.
In a statement, the CAC emphasized that conducting business without proper registration violates the Companies and Allied Matters Act (CAMA) 2020, undermining transparency and accountability in the corporate sector.
The commission stressed that registration is not only a legal requirement but also a gateway to formal business opportunities, including access to bank loans, government grants, and partnerships.
The enforcement drive will be nationwide, targeting small and medium-sized enterprises (SMEs), online vendors, and informal traders who have failed to comply despite previous awareness campaigns and registration amnesty windows.
The CAC disclosed that enforcement teams, in collaboration with security agencies, will be deployed to identify and prosecute defaulters.
The commission urged business owners to take advantage of its simplified registration platform to regularize their status, noting that compliance will boost investor confidence and improve Nigeria’s ease of doing business. It warned that ignorance of the law will not be accepted as an excuse.
Business owners are advised to act promptly to avoid legal consequences, as the CAC moves to ensure a more structured and regulated business environment in Nigeria.
E-Business
NCC Vows to Tackle Online Infringement, Block Illegal Music Websites

Nigerian Copyright Commission (NCC) has pledged to enforce its legal obligations to combat online intellectual property infringement and urged commercial music users to obtain proper licences from rights holders or their representatives.
The Commission stated that this ensures creators are fairly compensated, supporting the music industry’s sustainable growth.
In a statement commemorating the 2025 World Intellectual Property Day, themed “IP and Music: Feel the Best of IP,” the NCC announced plans to enforce the Copyright Act 2022, which allows for the takedown of infringing materials and blocking of websites hosting illegal content.
Signed by Mrs Ijeoma Egbunike, director of Public Affairs, the statement outlined an aggressive anti-piracy campaign in collaboration with the private sector, targeting the online environment.
Egbunike affirmed the NCC’s commitment to establishing enforceable standards for transparency, digital audits, and real-time royalty reporting to protect creators’ rights. She stated, “The NCC will continue to champion policies that support the growth of the music industry, improve the livelihoods of Nigerian musicians, and foster a culture of creativity and respect for intellectual property.”
Despite the global success of Afrobeats and other Nigerian genres, the NCC noted that many musicians face low royalty returns due to rampant digital piracy.
To address this, the Commission revised its Collective Management Regulations to enhance transparency and accountability among Collective Management Organisations (CMOs).
The NCC emphasised that proper licensing is a legal obligation and vital for Nigeria’s creative economy, stating, “Music must feel the beat of intellectual property for the full potential of creativity to be realised.”
The Commission highlighted that creators’ livelihoods depend on fair royalty compensation.
Recent enforcement measures include the NCC’s designation by the Attorney-General of the Federation as an authority under the Proceeds of Crime (Recovery and Management) Act 2022.
This, combined with the Copyright Act 2022, empowers the NCC to order takedowns and block illegal music distribution websites.
E-Business
FG Warns Nigerians Against Growing Threat of Cyber Slavery in West Africa

The Federal Government, has warned Nigerians against the growing threat of cyber slavery within the West African sub-region.
The Ministry of Foreign Affairs, in a statement issued in Abuja by Kimiebi Imomotimi Ebienfa, acting spokesperson, noted with grave concern the alarming rise of cyber slavery across parts of West Africa, targeting Nigerian citizens, particularly vulnerable youths.
The government said many young Nigerians, including underage teenagers, were lured out of the country under the false promise of lucrative employment opportunities abroad, particularly in crypto-related operations.
According to the government, “In reality, these individuals are trafficked into sophisticated scam operations and enslaved to work in criminal “call centres” — often referred to as “419 cyber-scam factories.” There, they are forced under coercive and inhumane conditions to send thousands of fraudulent emails, text messages, and calls aimed at defrauding victims worldwide.”
The government also noted with dismay, a recent incident where the Economic and Organised Crimes Office (EOCO) in Accra, Ghana, rescued and detained a group of Nigerians forced to engage in cybercrime activities under inhumane conditions.
“This incident highlights the severe exploitation and abuse associated with cybercrime operations. It also underscores the need for enhanced efforts to combat such multibillion-dollar criminal networks and mitigate the susceptibility of victims.
“The Ministry strongly warns all Nigerians, especially the youths and parents, to exercise the utmost caution when presented with job offers, particularly those promising easy money, overseas travel, or remote work involving cryptocurrencies.
“Nigerians are therefore advised to verify all employment offers through official channels and report suspicious cases to relevant authorities for necessary investigation and action to curtail the activities of the perpetrators.
“The Ministry wishes to assure the general public that, as a precautionary measure to address this unfortunate situation, the Federal Government is working closely with regional partners, law enforcement agencies, and international organizations to tackle this heinous crime, rescue victims, and bring perpetrators to justice.
“The Ministry remains committed to protecting Nigerian citizens at home and abroad and will continue to raise awareness about emerging threats to the welfare and dignity of our people,” the statement read.
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