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Nigerian Investors Launch $5b Cooperative Trust Fund for MSMEs

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A group of Nigerian investors has launched a $5 billion Cooperative Trust Fund aimed at building and strengthening micro, small, and medium-scale enterprises (MSMEs) across the country, in a bid to spur rapid economic growth.

The initiative, unveiled in Abuja over the weekend, is spearheaded by the AssuredInvest™ Cooperative Trust Fund, a multipurpose financial vehicle tailored to support grassroots enterprises across various sectors of the economy.

Speaking at the launch, the lead promoter, Benjamin Aduli, stated that the Fund is backed by institutional capital and governed by cooperative law, not securities law. He emphasized that the Fund aligns with the economic development goals of the current administration.

“This Fund is driven by clear cooperative use-cases—food production, mechanization, housing, education, clean energy, and digital inclusion,” Aduli explained. “It is supported by both government and relevant regulators to ensure it delivers on its objectives.”

Aduli further revealed that the Fund is being administered with oversight from trustee banks, insurance underwriters, and cooperative federations. Among the key partners are the Cooperative Financing Agency of Nigeria (CFAN), National Agricultural Cooperative Organisation (NACO), Cooperative Housing Federation of Nigeria (COHFON), and Akilaah National Cooperative Federation (Akilaah).

“What makes the AssuredInvest™ Fund historic is its demand-driven nature,” Aduli noted. “Unlike traditional financing models that flood the market with unsolicited capital, this Fund responds solely to verified cooperative demand. Whether it’s a rice farmer in Lokoja, a housing cooperative in Enugu, or an MSME cluster in Kaduna—this Fund addresses structured, real-world needs.”

Also speaking, Nathan Nwachukwu, CEO of Terra Industries, said his organization is partnering with the Fund to deploy drone services that will monitor agricultural activities.

“In the first phase, we are deploying surveillance across 40,000 hectares in Kogi State, protecting over 20,000 rice farmers operating under the MAIS Cooperative network,” he said. “Our drones will provide 24/7 aerial surveillance, real-time threat detection, data analytics, and situational awareness to bolster agricultural security.”

In her remarks, Dr. Esther Audu, Chairperson of Women in Agriculture, praised the initiative as a revolutionary step in cooperative financing across Africa.

“The AssuredInvest™ Trust Fund is Africa’s first demand-driven fund,” she said. “It doesn’t inject capital into speculative projects. Every kobo goes directly to real people, real businesses, and real communities. It is rooted in law, built on trust, and driven by a mission to uplift.”

She also lauded the use of drone-powered surveillance to secure farmlands, calling it “a bold leap forward for Nigeria’s agricultural future.”

“The launch of this surveillance system for 20,000 rice farmers in Kogi State is not just about protection—it’s about bringing digital intelligence into our food systems. This is the future, and Nigeria is leading the way,” she added.


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NITDA, CAC Activate Cybersecurity Measures Amid System Concerns

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The National Information Technology Development Agency (NITDA) and the Corporate Affairs Commission (CAC) have initiated coordinated measures to strengthen cybersecurity following recent concerns affecting aspects of CAC’s digital systems.

Both agencies said they have activated response and assurance mechanisms in line with national cybersecurity frameworks to safeguard critical infrastructure and maintain service integrity.

NITDA reiterated that all Ministries, Departments, and Agencies (MDAs) must adopt proactive cybersecurity measures in compliance with the National Cybersecurity Policy and Strategy (NCPS) 2021.

The agency directed all MDAs to immediately review and reinforce their cybersecurity architecture to address emerging threats targeting government systems and sensitive data.

As part of the directive, MDAs are required to conduct comprehensive security assessments, remediate identified vulnerabilities, and strengthen access controls across critical platforms.

They are also expected to enhance data protection mechanisms, maintain effective backup and disaster recovery systems, and improve monitoring capabilities to detect and respond to suspicious activities.

In addition, there is the need for functional incident response frameworks, including prompt reporting of cybersecurity breaches for coordinated intervention.

Detailed cybersecurity guidelines have already been issued to MDAs for implementation as part of ongoing efforts to strengthen resilience across public sector digital infrastructure.

The measures are aimed at improving the overall security posture of government institutions and ensuring the continued protection of national digital assets.

NITDA reaffirmed its commitment to supporting government agencies in safeguarding digital systems and advancing cybersecurity best practices across the public sector.


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Nigeria Customs Deploys AI to Cover Revenue Leaks

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The Nigeria Customs Service (NCS) has rolled out an artificial intelligence (AI) driven capacity-building programme to improve revenue generation and reconciliation across its operations.

The initiative, unveiled during a three-day training event in Abuja, aims to transition the agency toward data-driven administration as Nigeria seeks to boost non-oil revenue.

The adoption of AI will enable the service to better manage complex trade systems, detect anomalies and reduce revenue leakages, says Bashir Adewale Adeniyi, comptroller-general of the NCS.

AI-powered tools are already being integrated into risk management and cargo scanning systems to allow for real-time analysis of trade patterns.

The technology marks a transition from manual, reactive processes to predictive and automated decision-making, Adeniyi adds.

The programme also reflects a shift in the relationship between the NCS and the National Assembly toward a collaborative framework focused on transparency and efficiency.

The training is a strategic intervention to address persistent gaps in revenue management, says Kikelomo Adeola, deputy comptroller-general of the NCS.

AI applications, ranging from automated data analysis to predictive intelligence, will significantly enhance the integrity of public financial systems, she says.

The initiative aligns with broader efforts to modernise governance and improve compliance across revenue-generating agencies, says Bamidele Salam, chairman of the House Public Accounts Committee.

Lawmakers and fiscal authorities at the event underscored the urgency of adopting advanced technologies amid rising budgetary pressures.

This move comes as the federal government increases scrutiny over revenue leakages and audit discrepancies.

The partnership between the NCS and the legislature is critical to strengthening fiscal discipline and ensuring all revenue due to the federation is accurately captured, Adeniyi concludes.


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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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