Headlines
Lagos begins Start up Act 2022 implementation process
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Lagos State government has organised a policy review workshop to implement the Nigerian Startup Act (NSA2022) policies for the state’s growth.
The workshop, held at Eko Innovation Centre, brought together startup founders, technology experts, innovators and enthusiasts to join the state government in domesticating the policies in the Act.
The event led to the establishment of Knowledge, Innovation, Technology, and Entrepreneurship (KITE) Project, which will equitably localise the Act.
The Act defines Nigerian startups, their scope, operations, incentives and limits to attract foreign investment, and open up the Nigerian tech industry.
A startup, according to the Act, is “a firm that has been in operation for no more than 10 years and whose aims include the invention, innovation, production, development or adoption of a new digital technology creative product, service, or method.”
Interpretatively, the act aims to provide a legal and institutional framework for Nigerian startups, as well as an enabling environment for their establishment, development and operation.
Special Adviser to the Governor of Lagos State on Innovation and Technology, Mr. Tunbosun Alake, said the NSA2022 regulations will assist startups in registering quicker and obtaining permits faster, thereby, boosting the ease of doing business.
“To drive the ecosystem and boost innovation, each state, throughout the federation, needs to adopt distinct legislation that will help foster and deepen startup activity.
“Lagos’ startup policy structure has been in development for some time before the Act. The regulations will assist startups in registering quicker, obtaining permits faster and easing business for commercial organisations classified as startups.
“It is critical for entrepreneurs in the ecosystem to participate in the workshop review to have an impact on the state legislation being drafted. The KITE project, like Silicon Valley, is a state-wide initiative that will create ICT clusters, which will promote innovation throughout the state and benefit the nation’s economy,” Alake said.
The anchor, Mr. Wale Adelaja, said the workshop was organised to allow private sector and government agencies review the policies established in the KITE project. “For an ICT business, cluster or ecosystem to be sustainable, policies to support its longevity are required,” he said.
Head of Lagos State House of Assembly Committee on Science and Technology, Hon. Olanrewaju Suleiman Afinni, at the event, urged private sector stakeholders to look over the law and make it as complete as possible so that it doesn’t need to be changed often.
Founder, Business Africa Academy, Tracy Okoro, one of the private stakeholders, who championed the Nigerian Startup Act movement, acknowledged that the NSA2022 is the result of people’s desire for change and it succeeded because a group of young people came together to champion it.
She said: “We have a volunteer group of over 800 people who drove this from beginning to end without demanding payment. The Act is significant for connecting the government with the business sector.”
The KITE project is expected to significantly contribute to Nigeria’s economic development and position Lagos State as the hub for innovation in Nigeria. Also, as the state is becoming a popular location for technology investors and entrepreneurs, it will enable the state to further push its technology and innovation agenda.
It will begin in Yaba, which will serve as a medium for the government and private sector to create an ICT cluster. Yaba is known as the bedrock of internet-enabled businesses, with over 60 startups and active venture capital firms in residence. It is also a thriving centre for innovation in Nigeria.
By 2030, the Yaba KITE cluster is expected to be Africa’s main source of transformational solutions, propelling the continent’s socio-economic progress via technological leadership, disruptive innovation, and high-quality stem talent. Access to financing, advocacy and marketing, research and development, network and cooperation, talent, skills, education, infrastructure, policy, regulation, and governance are also goals of the KITE initiative.
Defence
Victory Against Terror: Troops Eliminate 152 Terrorists, Rescue 91 Hostages in Nationwide Crackdown
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Victory Against Terror: Troops Eliminate 152 Terrorists, Rescue 91 Hostages in Nationwide Crackdown
The Defence Headquarters (DHQ) announced on Friday that troops had successfully neutralized 152 terrorists, arrested 109 suspects, and rescued 91 kidnapped hostages during operations conducted across the country in the past week.
Maj.-Gen. Edward Buba, Director of Defence Media Operations, provided the update during a briefing in Abuja, noting that significant blows were dealt to terrorist strongholds in Katsina and Kaduna states. Key operations targeted two notorious terrorist commanders, Sadiku and Alhaji Yusuf, leading to the decimation of their enclaves.
“Sadiku’s base was located at Tsora Hill in Safana Local Government Area of Katsina State, while Alhaji Yusuf’s stronghold was at Yadi Forest in Giwa Local Government Area of Kaduna State,” Buba revealed.
In addition, two female terrorist collaborators, responsible for negotiating ransoms with the families of kidnapped victims, were apprehended. Troops also recovered an impressive cache of 183 weapons and over 4,000 rounds of ammunition, including 95 AK-47 rifles, locally made guns, and other heavy arms.
“On the whole, the gallant men and women of the armed forces continue to take pride in putting themselves in harm’s way to ensure the safety and security of citizens,” Buba stated, calling for continued support from the public in the fight against terrorism.
In the North East, under Operation Hadin Kai, 63 terrorists were eliminated, 38 suspects were arrested, and 35 hostages were rescued. Buba added that between August 28 and September 4, a total of 196 terrorists surrendered, including 19 adult males, 70 adult females, and 107 children. A successful airstrike on August 31 also killed an ISWAP spiritual leader, Goni Sanda, along with several other terrorists in Borno State.
Meanwhile, in the North Central, troops under Operations Safe Haven and Whirl Stroke neutralized three extremists, arrested 40 suspects, and rescued 28 hostages. In the North West, Operation Hadarin Daji forces killed 105 terrorists, arrested 21, and freed 36 hostages.
In the Niger Delta, under Operation Delta Safe, troops destroyed 58 illegal refining sites and recovered over 1.2 million liters of stolen crude oil and illegally refined diesel. Additionally, 36 suspected oil thieves were arrested.
In the South East, under Operation UDO KA, two violent extremists were apprehended, and two hostages were rescued.
All arrested suspects, recovered items, and rescued hostages have been handed over to the relevant authorities for further action, Buba confirmed.
Headlines
EFCC Warns Businesses Against Aiding Criminals, Urges Compliance with Money Laundering Act
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EFCC Warns Businesses Against Aiding Criminals, Urges Compliance with Money Laundering Act
The Economic and Financial Crimes Commission (EFCC) has called on Designated Non-Financial Businesses and Professions (DNFBPs) to ensure full compliance with the Money Laundering Prohibition and Prevention Act of 2022.
This warning was issued during a sensitization programme organized by the EFCC’s Special Control Unit Against Money Laundering (SCUML).
EFCC’s Acting Director for Lagos, Michael Wetkaz, highlighted the global efforts to combat terrorism and warned businesses not to provide a safe haven for criminal elements. “The financial institutions have been regulated, and terrorism has become a global concern. Nations have tightened measures to ensure criminals have no space to operate,” Wetkaz said.
He urged DNFBPs, which include casinos, real estate agents, dealers in precious metals and stones, lawyers, and other professionals, to be vigilant and report any suspicious activities. “If you allow these criminal activities to pass through your businesses, it will worsen the insecurity situation in the country,” he cautioned.
Aminu Ahmed, an Assistant Commander of the EFCC, reminded operators to report currency transactions above N5 million for individuals and N10 million for corporate bodies. He emphasized the importance of appointing compliance officers and adhering to anti-money laundering regulations.
The training also covered topics such as beneficial ownership, financial sanctions, and reporting requirements for Politically Exposed Persons (PEPs), with ACE II officer Folasade Oluwasanya stressing the importance of awareness in curbing financial crimes.
Agriculture
Minister pledges sustained investment in agricultural production in FCT
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Minister pledges sustained investment in agricultural production in FCT
Dr Mariya Mahmoud, Minister of State for the Federal Capital Territory (FCT), has pledged the FCT administration’s commitment to sustaining investment in agricultural production in the territory.
Mahamoud said this at the inauguration of the disbursement of grants to beneficiaries of the 4th batch of the FCT Fadama Covid-19 Action Recovery and Economic Stimulus (CARES) Programme, on Thursday in Gwagwalada.
She said the initiative is aimed at reducing poverty and improving livelihoods for the poor and vulnerable agricultural households in the territory.
The minister said the FCT Fadama CARES Programme would increase food security and the safe functioning of the food supply chain in the FCT.
She said the programme was designed to support the recovery of livelihood activities of the poor and vulnerable persons engaged in the agricultural value chain, with consideration to women and youths.
According to her, it is gratifying to note that within the first year of the current administration in the FCT, the Fadama CARES programme has disbursed grants to 3,150 beneficiaries under the third batch.
Mahmoud said the programme would provide grants to an additional 6,020 new beneficiaries under the fourth batch.
She said that 9,170 beneficiaries would benefit from the programme during the first year of the current FCT administration.
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