General News
Revealed! How Middle Eastern Backers Fund Boko Haram

Boko Haram’s recent attacks are notable for the expensive military hardware on display. Where is it getting funds to acquire these hardware?
The Independent reports on the sources of this money, from wealthy Middle Eastern backers to the black market
If there was an exact moment that the international community understood the breadth of Boko Haram’s evil, it came last month, when the group’s leader grinned and announced that he would sell more than 200 kidnapped schoolgirls in his “market of selling human beings”.
Behind Abubakar Shekau, a man who rose to the top of Boko Haram through unmatched brutality and religious fanaticism, loomed several armoured vehicles.
Local experts said the video was likely to have been filmed in the remote Sambisa forest in north-eastern Nigeria. The juxtaposition between rural land and advanced machinery made a jarring contrast.
Despite the poverty of northern Nigeria – where 70 per cent of people live on less than 60p a day – the Boko Haram terrorist group has at its disposal a seemingly limitless amount of heavy weaponry, vehicles, bombs and ammunition that it uses to kill with unfathomable wantonness.
The Islamic militants, masquerading as members of the military, raided three villages in north-eastern Nigeria this week and killed 400 villagers “from house to house” using “sophisticated weapons”, one local leader told Bloomberg.
Dozens more Boko Haram members arrived at another village, Bargari, disguised as preachers and assembled all those living in the village, ostensibly to teach Islam. Once they had gathered, another “large number of terrorists” arrived and “opened fire on the congregation”, one resident told Nigeria’s Daily Post.
“The gunmen numbering 20 ambushed the village with four Toyota Hilux vehicles, AK-47 rifles, improvised explosive devices, and petrol bombs,” the paper said.
Saleh Mohammed, a member of Civilian JTF – one of a number of vigilante groups that have sprung up to fight the militants – told Reuters: “Boko Haram wreaked havoc in the villages. They burned houses and killed people mercilessly after tricking the residents.”
The expensive equipment on prominent display soon prompted questions about who was funding Boko Haram’s campaign of slaughter.
According to a survey of academic, governmental and journalistic accounts, Boko Haram funds its escalating acts of terror through black market dealings, local and international benefactors, and links to al-Qa’ida and other well-funded groups in the Middle East.
Analysts say its fundraising apparatus is intricate and opaque. “The actual source of the funding is as elusive as the militants themselves,” Heather Murdock wrote for Voice of America.
The story of Boko Haram’s fundraising began after the 2001 terrorist attacks on the World Trade Centre and the Pentagon.
The group’s original leader, a charismatic cleric named Mohammed Yusuf, who was later killed, founded the group in 2002 pushing an alternative to Western education, which he claimed undermined Nigeria’s development. (The group’s Hausa name translates as “Western education is sin”.)
Around that time, Osama bin Laden sent an aide to Nigeria with about £1.8m in local currency to dispense among groups that shared al-Qa’ida’s mission to impose Islamic rule. One of the “major beneficiaries”, the International Crisis Group said, was Boko Haram.
EJ Hogendoorn, the International Crisis Group’s deputy programme director for Africa and an author of the report, told The Daily Beast: “What I can tell you from talking to lots of conservative Muslims in Nigeria is that there was a lot of money coming into northern Nigeria. There are many sources of that money. One of those sources was from al-Qa’ida.”
The connection between Boko Haram and al-Qa’ida – and its money – perhaps deepened when Yusuf fled to Saudi Arabia to escape one of Nigeria’s first crackdowns on the terrorist group. It remains unclear what happened while he was in Saudi Arabia, or who he met, but Boko Haram leaders have later said that much of their funding comes from al-Qa’ida.
A Boko Haram spokesman said in 2011: “Al-Qa’ida are our elder brothers. We enjoy financial and technical support from them. Anything we want from them we ask them.”
But even such alleged financial connections with al-Qa’ida cannot explain Boko Haram’s money. The group reportedly also gets cash from Islamic terrorist groups such as al-Shabaab in Somalia and local al-Qa’ida affiliates.
Then there’s the black market money. Beyond a hatred of Western education, economic motives may have also driven Boko Haram’s recent abduction of the schoolgirls. A robust and terrifying slave market exists in Nigeria and neighbouring countries.
The Combating Terrorism Centre at West Point, the US military academy, said: “Kidnapping has become one of [Boko Haram’s] primary funding sources, a way to extract concessions from the Nigerian state and other governments, and a threat to foreigners and Nigerian government officials.”
Experts now estimate that kidnapping is worth “millions of dollars in ransom money” to the militants.
What experts agree on is that one of the best ways to stall Boko Haram is to cut off its funding. But how to do that remains unclear. The group is an entrenched part of life in northern Nigeria, possessing control and influence, and even collecting taxes.
Next week, Foreign Secretary William Hague will host a meeting of African and Western officials in London aimed at stepping up efforts to defeat the militants. Its effectiveness may hinge on the West’s ability to cut off the group’s funding
General News
NITDA DG Calls for Innovation-Led Economic Rebirth @ Kano Startup Weekend

Kashifu Inuwa, the Director General of the National Information Technology Development Agency (NITDA), has called for a fundamental shift in Kano State’s economic strategy, urging stakeholders to embrace innovation, technology and collaboration as the drivers of growth in the 21st century.

Speaking at the Kano Startup Weekend, Inuwa acknowledge Kano’s long-standing reputation as the commercial nerve centre of Northern Nigeria and the wider Sahelian region, noting that its history of trade, enterprise and human capital provides a solid foundation for future growth.
He emphasised that while these strengths powered Kano’s success for centuries, the modern economy now offers even greater opportunities through innovation and technology.
He described innovation as the process of transforming ideas into impactful solutions through commercialization, stressing that when ideas are effectively deployed, they create value, solve societal challenges and generate sustainable economic growth. He noted that Kano’s large market, strategic location and vibrant entrepreneurial culture place it in a strong position to take advantage of innovation-driven opportunities.
According to him, “Innovation is the process of taking an idea from inception to impact. Invention on its own is a cost centre, but when you commercialise an idea, when you turn it into a product or service that solves a real problem and creates value, that is when you begin to drive economic growth and inclusion.”
He noted that the state hosts numerous degree-awarding institutions across federal, state and private ownership, providing a strong base for human capital development. However, he expressed concern that these institutions often operate in isolation from industry, with research outputs rarely translating into commercial or industrial applications.
He explained that innovation does not happen in silos and stressed the need for a strong, interconnected ecosystem that brings together academia, industry, startups, entrepreneurs and government.
According to him, universities should conduct research informed by industry needs, industries should leverage research to improve productivity and competitiveness, and startups should serve as the bridge that converts ideas into market-ready solutions.
He further encouraged entrepreneurs to leverage technology to build businesses that can grow beyond local markets, explaining that innovation-driven enterprises have the power to scale rapidly, create jobs and position Kano competitively at both national and global levels. According to him, digital platforms and emerging technologies now make it easier for startups to reach wider markets and develop solutions that were previously unimaginable.
“You can start your business here in Kano, but your thinking must be global from day one. Technology has removed barriers. With the right skills and platforms, a startup in Kano can build solutions that serve not just Nigeria, but the world,” he noted.
Highlighting NITDA’s ongoing interventions, the Director General outlined the Agency’s commitment to building national innovation capacity through targeted human capital development programmes. He cited the Digital Literacy for All (DL4ALL) initiative, which aims to equip Nigerians across all segments of society with essential digital skills, and the 3 Million Technical Talents (3MTT) programme, designed to produce a pipeline of globally competitive technical professionals in areas such as software development, data analysis and emerging technologies.
He said, “Through DL4ALL, we are ensuring that Nigerians at all levels have the basic digital skills needed to participate in the digital economy, while 3MTT is deliberately building a pipeline of globally competitive technical talents who can drive innovation, create jobs and attract investment.”
He explained that these programmes are key pillars of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises skills development, innovation, job creation and inclusive economic growth as pathways to national prosperity. According to him, empowering Nigerians with digital and technical skills is essential for building a resilient economy capable of competing in the global digital landscape.
“President Tinubu’s Renewed Hope Agenda is about investing in people, empowering them with relevant skills and creating opportunities for inclusive growth. At NITDA, we are using digital skills and innovation as tools to translate that vision into real economic impact for Nigerians,” he said.
Inuwa urged all stakeholders in Kano to work together to build a functional innovation ecosystem that can unlock the state’s vast potential. He expressed confidence that with the right mindset, strong collaboration and sustained investment in digital skills and innovation, Kano can reclaim its historic leadership role and emerge as a major innovation and entrepreneurship hub in Nigeria and beyond.
General News
Sterling Bank Renewable Energy Colloquium Urges Stakeholders to Unlock Nigeria’s Clean Energy Potential

Sterling Bank Limited on Monday convened stakeholders in the renewable energy industry to explore strategies for accelerating Nigeria’s transition to clean energy and boosting economic growth.

L-R: Mr. Ayo Ademilua, President, Renewable Energy Association of Nigeria; Dr. Jekwu Ozoemene, Group Executive, The Alternative Bank; Mr. Biodun Ogunleye, The Honourable Commissioner, Lagos State Ministry of Energy and Mineral Resources; Mr. Dele Faseemo, Group Executive, Coprporate and Investment Banking, Sterling Bank; Engr. Bem Samuel Anyangeuor, Representative, Honorable Minister of Power and Mr. Oluwaseyi Okunnuga, Group Head, Renewable Energy & Sustainability Finance, Sterling Bank at the just concluded Renewable Energy Colloquium held in Lagos recently.
The colloquium, themed “Beyond the Grid: Unlocking New Frontiers in Renewable Energy”, was held in Lagos and brought together policymakers, financiers, and industry leaders to deliberate on priority areas for action.
In his opening address, Managing Director and Chief Executive Officer of Sterling Bank, Mr. Abubakar Suleiman, represented by Mr. Dele Faseemo, Group Executive, Corporate and Investment Banking, said the bank would focus on regulation and financing to expand access to energy.
He noted that energy access remained critical to supporting economic growth and achieving Nigeria’s ambition of building a one trillion-dollar economy.
Delivering a keynote address titled “Scaling Electrification in Nigeria: The REA Impact”, Managing Director of the Rural Electrification Agency (REA), Dr. Abba Aliyu, represented by Mr. Abba Hayatudden, said Nigeria required about 26 billion dollars to bridge its energy deficit.
Aliyu explained that the energy transition strategy integrates grid, mini-grid and off-grid technologies to achieve universal, reliable and sustainable energy access while aligning with national development and climate goals.
Minister of Power, Mr. Adebayo Adelabu, represented by Engineer Samuel Ayangeaor, commended Sterling Bank for convening the dialogue.
He said renewable energy and rural electrification were central to the Federal Government’s Renewed Hope Agenda.
“The Ministry of Power has continued to expand electricity access to underserved communities to drive economic growth, foster industrial activity and create jobs across the nation,” Adelabu said.
Lagos State Commissioner for Energy and Mineral Resources, Mr. Biodun Ogunleye, highlighted the state’s efforts in renewable energy, including the ongoing two-gigawatt grid-scale solar project.
He described it as the most ambitious energy transformation ever undertaken by the state.
Chief Executive Officer of Sterling One Foundation, Mrs. Olapeju Ibekwe, urged participants to move beyond communiqués and act with intention to deliver meaningful impact.
The colloquium featured panel sessions on financing and scaling green energy solutions in Africa, among other discussions.
General News
Cellulant Taps Freddie Oduro to Lead Enterprise Payments Expansion in Ghana

Cellulant, a leading Pan-African payments company enabling seamless digital transactions across Africa, has appointed Mr. Freddie Oduro as its new Country Manager for Ghana.

Mr. Freddie Oduro, New Country Manager for Ghana.
Freddie’s appointment is a key step in Cellulant’s broader strategy to deepen its presence in priority markets by accelerating the acquisition of in-country enterprise businesses and strengthening its position as the payments partner of choice in Africa.
Freddie brings over a decade of commercial and strategic leadership experience in the telecommunications and financial services sectors, with expertise in sales, business operations, and market expansion.
In his new role, he will drive merchant acquisition, strengthening partnerships, oversee collections and payout operations, while ensuring strong internal controls and regulatory compliance.
He joins Cellulant from Payaza and previously served as Sales Director at Cellulant, where he helped significantly expand the company’s footprint in Ghana.
Cellulant has been powering payments in Ghana for leading brands in sectors like e-commerce, utilities, oil and gas and retail, helping them offer their customers a wide range of secure digital payment options.
“We are happy to welcome Freddie back to the Cellulant family,” says Richard Gesimba, Chief Revenue Officer at Cellulant. “Ghana remains a critical market for us, with immense potential driven by rising digital payments adoption.
“As we sharpen our focus on in-country enterprise customers, Freddie’s leadership and industry insight make him the ideal person to steer our Ghana operations.”
The appointment comes at a transformative time for the company. Following a strategic shift between late 2023 and early 2024, focused on streamlining operations, doubling down on enterprise payments, and strengthening customer intimacy, Cellulant achieved profitability in 2024 and continues to build on this momentum.
The company now processes close to 4.5 million transactions daily for businesses across Africa, reinforcing its position as a fintech leader.
“I am honoured to return to Cellulant and lead the Ghana team at such a defining moment,” says Freddie, Country Manager for Cellulant Ghana. “Ghana presents a tremendous opportunity.
“We will ramp up our efforts to sign on more local merchants, strengthen our compliance and control frameworks, and introduce innovative solutions like Tingg Edupay, our automated school fee management solution that eliminates reconciliation delays by validating payments in real time and instantly updating student accounts.
“We will build on Cellulant’s strong foundation to deliver real value, reliability, and economic impact.”
Ghana’s digital payments sector continues to grow steadily, supported by increased mobile money usage and a progressive regulatory environment. Between January and October 2025, the value of mobile money transactions hit about GH¢ 3.6 trillion, up sharply from GH¢ 2.37 trillion in the same period of 2024.
Registered mobile money accounts now exceed 79 million, demonstrating strong consumer and business confidence in digital financial services and in turn creating many opportunities for payment innovation.
This leadership appointment underscores Cellulant’s commitment to building a resilient, high-performance organisation geared towards playing a pivotal role in the next era of Africa’s digital economy.
Looking ahead to 2026, Cellulant plans to further enhance the user experience on its payment platform, Tingg, and expand its footprint across Ghana.
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