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Minister Hails Presidential Advisory Committee against Corruption

Alhaji Lai Mohammed, minister of Information and Culture, has hailed the role being played by the Presidential Advisory Committee against Corruption, led by renowned Professor of Law and civil rights Activist Itse Sagay, in the country’s anti-corruption battle.
”Bodies like yours, the Presidential Advisory Committee against Corruption, are critical to the success of the fight,” the minister said while receiving members of the Committee at his office in Abuja on Tuesday. ”We have no doubt that you will continue to advise the administration on the prosecution of the war against corruption and the implementation of required reforms in Nigeria’s criminal justice system.”
Alhaji Mohammed said the visit by members of the Committee could not have come at a better time, ”considering that we are presently running a National Sensitization Campaign against Corruption”.
He acknowledged the huge support that the ministry had received – and has continued to receive – from the committee since the launch of the campaign, saying it had gone a long way in contributing to the modest achievement we have made since the launch.
”I can say, without equivocating, that since the launch of the sensitization campaign against corruption, we have succeeded in getting more and more Nigerians talking about corruption. Not everyone has joined the campaign, but we see the increased national debate on corruption as a positive development, because the more people are aware of the evils of corruption, the more the likelihood for them to support the government’s battle against corruption,” the minister said
He said a recent poll by the Governance Accountability Initiative for Nigeria (GAIN) has shown that the support among Nigerians for the anti-corruption war is very high, with 76% of respondents expressing support for the initiative, while also showing that in terms of areas of concern among Nigerians, the anti-corruption fight is next only to insecurity.
”These results tally with what we have found out in our various engagements since we launched the National Sensitization Campaign,” Alhaji Mohammed said, while commending the media for the major role they have played in disseminating necessary information about the campaign to the people, and also for providing feedback to the government.
He said while some of those who have picked issues with the strategy adopted by the government to sensitize Nigerians may have done so genuinely, perhaps because they have not taken the time to understand the strategy, others are only criticising the anti-graft campaign just to shoot it down.
”A key strategy we have adopted in our campaign is to strip corruption of its previous abstract status by putting a face to it. In other words, we are emphasizing and highlighting the cost of corruption to the lives of Nigerians.
”When we revealed that 55 people allegedly stole a total of 1.34 trillion Naira between 2006 and 2013 – a figure that has been independently confirmed by a Civil Society Organization, Media Rights Agenda (even though with an extended timeline), our intention was not to villify anyone but to show to Nigerians how funds that could have been used to provide infrastructure and upgrade educational and health facilities, for example, have been looted,” the Minister explained.
He assured that the government would continue to vigorously pursue the anti-corruption fight in accordance with the rule of law, adding: ”We will not relent, not now that the fight has gained momentum among Nigerians and attracted global support.”
Earlier, Prof. Sagay said the visit was to give the Committee the opportunity to dialogue with the Minister, whom he described as proactive, courageous, intelligent and knowledgeable, and his team, especially because the parastatals under the Ministry of Information and Culture have a vital role to play in the fight against corruption.
”Parastatals like the NTA, FRCN, NOA and VON are critical in educating the public and increasing the level of consciousness (about the evils of corruption),” he said.
The Committee head urged Nigerians to buy into the anti-corruption struggle, saying by doing so, they are laying the groundwork for their children to live in an atmosphere of stability and to have the opportunity to achieve their God-given potentials.
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EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud


EFCC
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AfDB Supports Francophone Africa Start-ups with €6.5M

The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.

The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
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Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.

Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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