News
Lagos Supports 23 Innovators, Tech Firms with N100m Grant
The Lagos State Government has awarded a total grant of N100 million to twenty-three young innovators and tech firms to pursue various technology-driven innovations across the six pillars of the development agenda of the Babajide Sanwo-Olu administration.
The recipients are the first set of beneficiaries to be picked to benefit from the N250 million seed capital earmarked, last year, as Research and Innovation Fund by the State Government.
The awardees were selected through highly competitive process overseen by the Lagos State Science Research and Innovation Council (LASRIC) established in 2019 by Governor Sanwo-Olu, with the mandate to facilitate and encourage the development of innovative solutions to solve local problems, using cutting-edge technology.
The Governor congratulated the successful awardees of the research funds, urging them to apply the grant judiciously and use it to transform their ideas into reality.
Sanwo-Olu said his administration was born with the sole aim to solve contemporary challenges facing the State, stressing that the innovation grant was initiated with the objective to empower local innovators and thinkers with knowledge of context and peculiarities to create specific solutions for local challenges.
He said: “Last December, we inaugurated the Research and Innovation Council with a seed fund of N250 million in demonstration of our commitment to transform Lagos into a 21st century digital economy and Smart City.
“The body has a mandate to facilitate investment in science research, innovation, and STEM education throughout the State, and to encourage the development of innovative solutions to problems, using cutting-edge technology.
“We are here today to match our words with action, by handing out grants from the LASRIC’s Research and Innovation Fund to successful applicants. I congratulate all awardees and beneficiaries of our very first set. As a Government, we believe in each and every applicant’s capacity to create and scale up ideas that can proffer solutions to our current challenges.
“We embarked on this unique project with the belief that local challenges are best solved by thinking that understands and appreciates local contexts and peculiarities.
“We believe in Lagos-supported solutions for Lagos-specific challenges. With the presentation of the grants, the responsibility now firmly rests on the recipients’ shoulders to justify the opportunity.”
Sanwo-Olu noted that science and technology remained key enablers to transform the socio-economic destinies of cities, observing that any serious Government must give total commitment to application of technology and innovation to drive improve service delivery in transport management, healthcare, education, waste management, security and governance.
He said Lagos was on a journey to properly identify, enable and build great human potential through flagship technology-driven projects, such as Metrofibre programme and Smart City initiative.
He said: “We are also working to transforming our civil service by encouraging innovative thinking and deploying technology tools and processes. Flagship projects such as the Metrofibre project and the Smart City initiative are key enablers for achieving this.”
The Governor urged unsuccessful applicants not to lose hope, charging them to re-apply for the grant in the next round of selection. He said the State Government would be increasing the grant to accommodate more innovators in the subsequent application.
The Governor’s Special Adviser on Innovation and Technology, Hon. Olatunbosun Alake, described the ceremony as “tangible development” in the history of governance in the State.
He said the awardees would be initiating innovation in key areas of manufacturing, food security and health management.
“The grant recipients represent key research initiatives and innovative start-ups ready and qualified to be resourced for the development of Lagos, and indeed the world. Today’s event is the first in many of this administration’s support and development of the science and technology ecosystem,” Alake said.
LASRIC chairman Prof. Oluwatoyin Ogundipe, said the event was a testimony of Sanwo-Olu’s commitment to the development of innovative solutions to challenges facing the State.
He said the Council would continue to assist the State Government to harness human and material resources of Lagos for problem solving, wealth creation and transformation of the State’s economy.
The high point was the presentation of cheques to the awardees by the Governor.
A beneficiary and founder of Price Pally, Luther Lawoyin, who received N5 million grant, praised the Governor for creating opportunities for tech startups to push forward their ideas. He said his business depended on data management, promising to invest the grant in improving food security.
Fidelis Egueke, former bank manager, , has been convicted and sentenced to six months in prison by an Asaba, Delta State Chief Magistrate’s Court for defrauding a victim of $46,900.
Chief Magistrate Callistus Isioma Moeteke found Egueke guilty of a single charge brought against him by the police under case number CMA/295c/2024.
Raphael Eze, prosecutor, of the State Criminal Investigation Department (SCID), Asaba, said Egueke, a former Asaba branch manager of a tier-one bank, fraudulently obtained $46,900 by using two Certificates of Occupancy (CofOs) as collateral.
One of the land titles, however, was not his, and the other was fake.
After receiving the money, Egueke used it for personal expenses and failed to repay the victim as promised.
The prosecution argued that Egueke’s actions violated Section 419 of the Criminal Code Law, Cap C21, Vol.1 Laws of Delta State, Nigeria, 2006.
Despite denying the offence, Egueke failed to present evidence of repayment during the trial.
Chief Magistrate Moeteke determined that the prosecution had proven its case beyond a reasonable doubt.
Egueke was convicted and sentenced to six months imprisonment.
However, the court also gave him the option to pay a fine of N350,000 in lieu of serving the prison term.
The court ordered Egueke to pay N30 million in restitution to the victim within six months of his conviction.
The charge against Egueke stated that, in 2016, he fraudulently obtained a credit facility worth $46,900 (approximately N60 million) from Chief Jude Ndudi by presenting false documents, including land titles that did not belong to him, in violation of Section 419 of the Criminal Code Law.
Egueke is also facing trial before a Lagos Federal High Court on charges related to a separate fraud case involving N179.498 million.
He is being prosecuted by the Force Criminal Investigation Department (ForceCID), Annex Alagbon-Ikoyi, Lagos.
This holiday season just got a whole lot more exciting! PalmPay, one of Africa’s leading fintech platforms, operates Nigeria’s most used mobile wallet and has teamed up with Jumia, the continent’s e-commerce giant, to launch a festive campaign that’s all about convenience, rewards, and enhancing your shopping experience.
Running from December 11th to 28th, 2024, this holiday campaign is set to reward shoppers who use the new “Pay with PalmPay” feature on Jumia with cash prizes. Every purchase made using the direct payment method automatically enters participants into a draw, giving them a chance to win exciting cash rewards while enjoying the seamless shopping and payment process.
A Strategic Partnership To Enhance Digital Payments
The integration of the “Pay with PalmPay Wallet” feature on Jumia marks a major milestone in the partnership between the two industry leaders.
Speaking at the media announcement, Mr. Chika Nwosu, Managing Director of PalmPay, highlighted the broader mission driving this collaboration: “We are thrilled to join forces with Jumia to redefine convenience for shoppers. At PalmPay, our mission has always been to drive economic empowerment through accessible and user-friendly financial services. This partnership is a natural step forward in achieving that goal.”
Beyond the holidays, this partnership with Jumia m,k is a signal of bigger things to come. Mr. Chika added: “This is more than just about payments—it’s about creating value for our customers. We are excited about the opportunities this partnership will unlock in 2025, including campaigns and innovative initiatives that will further transform the online shopping landscape.”
Sunil Natraj, CEO of Jumia Nigeria, highlighted the shared vision between both companies, stating: “At Jumia, we are dedicated to creating value for our customers by ensuring a convenient, reliable, and secure shopping experience. This partnership with PalmPay strengthens our commitment to enhancing the digital payments within our platform. By integrating PalmPay, we are providing more options for customers to access affordable and quality goods with the convenience of cashless transactions.”
How to Join the Holiday Fun
Participating in the campaign is simple. When shopping on Jumia, select the “Pay with PalmPay” option at checkout, and your entry into the draw is automatic. It’s that easy!
Bonus Entry: Share a screenshot of your purchase on X (formerly Twitter) using the hashtag #PalmPayXJumia to increase your chances of winning. Additional winners will be selected from participants engaging with the campaign on Twitter.
Whether you are shopping for gifts, or gadgets this festive season, PalmPay and Jumia are making sure your experience is not only seamless but also rewarding.
To learn more about the campaign, stay tuned to the official X accounts (formerly Twitter) of @palmpay_ng and @JumiaNigeria. for updates, announcements, and more chances to win.
Independent Corrupt Practices and Other Related Offenses Commission (ICPC), has revealed that none of the Ministries, Departments, and Agencies (MDAs), in the country complied fully with ethical standards, policies, and anti-corruption measures in the passing year.
This was following the findings from the Commission’s Ethics and Integrity Compliance Scorecard (EICS) for the MDAs.
The Commission warned that henceforth, non-compliant MDAs will face necessary actions, including enforcement, to ensure adherence to government directives.
According to the EICS scorecard released on Thursday in Abuja by Demola Bakare, ICPC spokesperson, no MDA out of 330 MDAs that were assessed through physical deployment by ICPC teams achieved full compliance.
The EICS serves as a preventive tool used to assess and enhance the compliance of MDAs with ethical standards, policies, and anti-corruption measures.
Findings from the report indicated that no MDA achieved full compliance, while 29.55 per cent of MDAs captured attained substantial compliance, and 51.62 per cent had partial compliance.
The report also observed that 15.91 per cent showed poor compliance, while 292 per cent were non-compliant.
According to the report, common gaps included a lack of whistle-blower policies, strategic plans, and effective stock verification units, adding that many MDAs failed to conduct any forms of system studies or render financial and audit reports.
Commenting on the report, Bakare noted: “This year, 2024, the tool covered 323 responsive MDAs, with 15 MDAs non-responsive and categorised as high corruption risk.
“It is imperative to inform you that this initiative has yielded some positive and value-driven impacts, and these are, but not limited to, increased awareness and compliance with anti-corruption measures, enhanced competition among MDAs to meet criteria, and improved procurement processes and data reliability.
“The Commission recognises the MDAs with substantial compliance and will continue deploying these tools to promote integrity and accountability.
“Non-compliant MDAs will face necessary actions, including enforcement, to ensure adherence to government directives. We are certain that these efforts will continue to underline ICPC’s dedication to enhancing good governance and preventing corruption.”
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