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FMN Set to Unveil Innovative Businesses Driving Local Content Development

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Flour Mills of Nigeria Plc (FMN), has announced its Prize for Innovation 2.0 pitch event, which will stream on digital platforms.

In a statement, FMN said the live pitch event is set to air on February 18, 2023, and will feature six of the most promising innovators in the food and agro-allied sector.

“The FMN Prize for Innovation 2.0 is a continuation of FMN’s commitment to fostering innovation and driving growth in the industry. The pitch event aims to provide a platform for viewers to watch the six innovators, showcase their ideas and receive recognition for their efforts.

“The winner of the competition will receive a cash prize of N5,000,000, as well as mentorship and significant support from FMN. The first and second runners-up will go with prize money of N3,000,000 and N2,000,000 respectively.

“Themed, “Innovative techniques for local content development in the food and agro-allied sector”, this year’s edition of the competition attracted about 400 entries and innovators across Nigeria within the two project categories who showcased their innovative ideas and solutions to boost local content development in the Nation.

“The finalists were selected from entries in category one of FMN’s annual innovation competition based on a transparent selection process, “it added.

Commenting on the pragmatic and transformative nature of the project, Group Managing Director and CEO, FMN, Mr. Boye Olusanya stated, “The FMN Prize for Innovation project is a clear demonstration of the Group’s commitment towards driving local content development in Nigeria through innovation.

“Beyond identifying and rewarding Nigerians that are championing innovations across various sectors, through the project also, we entrench business sustainability by working closely with the winners to ensure business continuity by providing the required expertise, training, mentorship, and partnership. In essence, the FMN Prize for innovation is a transformative project that further reiterates our mandate of enriching the lives of Nigerians while feeding the Nation, Everyday.”


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Daphne Dafinone, CBN GOV’s Ally Facing Alleged N100m Fraud Charges – Police

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Daphne Dafinone,
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Daphne Dafinone, an ally of Olayemi Cardoso, governor, Central Bank of Nigeria (CBN), is facing prosecution over an alleged N100 million fraud.

Daphne Dafinone, CBN GOV's Ally Facing Alleged N100m Fraud Charges – Police

Daphne Dafinone,

Dafinone who is also a board member of the Nigerian Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), allegedly defrauded a developer of the said sum.

She was recently hired by Cardoso as a consultant at the CBN.

Justice Ibrahim Kala of the Federal High Court in Lagos has ordered Dafinone to appear before the court on May 5 to take her plea in the fraud case filed against her and her company by the Police.

The charges stem from a petition by Prince Lukman Adeleke, a property developer, who claimed that between April and December 2019, Dafinone and others conspired to defraud him of N100 million.

According to the petition, Adeleke’s company, Lukman Communications Limited, had been negotiating the purchase of a property at 93 Broad Street, Lagos Island, from Dafinone’s company, CEDDI Corporation Limited.

Despite receiving N100 million for the property, Daphne Dafinone allegedly sold it to Mrs. Ganiyat Ulom, another buyer.

When Adeleke discovered the sale, he instructed his lawyers to issue a memorandum of claim to CEDDI Corporation Limited and Mrs. Ulom. However, both parties allegedly ignored the notice, prompting Adeleke to file a lawsuit in the Lagos State High Court.

At a previous hearing, Dafinone’s former lawyer, Dapo Akinosun (SAN), informed the court that she was in London for medical treatment, assuring that she would return to Nigeria on January 28, 2025, and be available for arraignment.

However, at the resumed hearing, Fidel Albert appeared as her new defense counsel.

The prosecution, represented by Superintendent of Police (SP) Anthony Iyeye, requested the court to issue a bench warrant for Dafinone’s arrest due to her absence.

In response, Albert informed the court that he had filed an application challenging the competence of the charge and the court’s jurisdiction.

Justice Kala allowed arguments on the submissions but ruled that Dafinone must appear in court before any application could be entertained.

The judge dismissed the preliminary objection and adjourned the case to May 5, 2025, emphasizing that Dafinone must be present for her arraignment.


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WillMoon Unveils Innovative Apps to Boost Economy

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WillMoon Artificial Intelligence Company achieved a major milestone with the launch of its pioneering app suite, poised to revolutionise Nigeria’s economy. The launch, which took place recently marked a significant step forward for the company.

This strategic move underscores the company’s dedication to leveraging technological innovation to drive economic growth and development in Nigeria.

According to the CEO of WillMoon Artificial Intelligence Company, Mr. Kenny Imarah, the three apps launched – Estate Books, Urban Fleet, and WillMoon POS & Inventory Management System – are designed to revolutionise the real estate, transportation, and retail sectors.

Industry experts predict that these apps will increase efficiency, reduce costs, and improve customer satisfaction, ultimately driving economic growth and development.

“We are thrilled to launch these innovative apps, which are set to transform how Nigerians live, work, and do business. Our apps are designed to meet the specific needs of Nigerians, addressing pain points in the market and providing seamless, automated solutions,” Imarah said.

The launch of these apps is seen as a major boost to Nigeria’s economy, which has been facing significant challenges in recent years. With the country’s growing population and increasing demand for technological innovation, WillMoon Artificial Intelligence Company’s apps are poised to make a significant impact.

Estate Books, one of the launched apps, is a real estate relationship management app that streamlines property management, tenancy, and rental businesses. This app is expected to reduce the hassle and stress associated with finding and managing properties in Nigeria.

Urban Fleet, another app launched, is an automotive rental app that simplifies the car rental process. This app is designed to provide users with a seamless and efficient car rental experience, reducing the need for physical paperwork and long queues.


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PAFON 2.0 Set to Address Customer Experience in AI-Driven Payment Ecosystem

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The highly anticipated Payments Forum Nigeria (PAFON) 2.0 is set to convene industry leaders, policymakers, fintech innovators, and key stakeholders to discuss the evolving landscape of digital payments, with a special focus on cybersecurity, trust, and regulatory compliance in the AI era.

PAFON 2.0, scheduled to take place on April 10, 2025 at the Function Room 1, Oriental Hotel, Lagos, builds on the success of its inaugural edition, solidifying its position as Nigeria’s premier platform for thought leadership in payments innovation.

This year’s theme, “Bridging the Customer Experience Gap for Financial Inclusion Using AI”, underscores the urgent need to safeguard digital transactions against emerging threats while ensuring seamless financial inclusion and innovation.

EBEHIJIE J. MOMOH, Chief Executive Officer, AfriGOPay Financial Services Limited, has been scheduled to present the keynote.

Other Speakers | participants are drawn the Central Bank of Nigeria (CBN); e-Banking Heads; Chief Compliance Officers of banks in Nigeria; Chief Internal Auditors of banks in Nigeria; Office of The National Security Adviser; Switching companies; the Economic and Financial Crimes Commission; Licensed Mobile Payment Operators; Electronic Payments Providers; Information Security Experts; Consumer Protection; Financial Policy and Regulation; Information Technology; Legal Services; Banking Supervision; Corporate Communication; Shared Services Office; Blockchain Security Experts, etc.

Key highlights of PAFON 2.0 include:

· Expert-led panel discussions on AI-driven fraud detection, secure authentication, and regulatory strategies for digital payments

· Fireside chats with top executives from the banking, fintech, and regulatory sectors

· Showcase of cutting-edge payment security solutions leveraging AI, blockchain, and biometrics

· Networking opportunities with industry pioneers shaping the future of Nigeria’s payment ecosystem

Speaking on the upcoming event, Mr. Chike Onwuegbuchi, co-convener of PAFON, stated:

“As Nigeria accelerates its transition to a digital economy, ensuring trust and security in payments has never been more critical. PAFON 2.0 will serve as a pivotal platform to address these challenges and unlock opportunities for a more resilient and inclusive financial system.”

PAFON 2.0 is open to payment service providers, fintech firms, banks, regulatory bodies, cybersecurity experts, and all stakeholders invested in the future of digital transactions in Nigeria.

For more information and participation details, visit or contact [Insert Contact Information].


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