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JUST IN: Tinubu Govt Announces Fresh Investment Funds For Startups
The Federal Government’s Investment in Digital and Creative Enterprises (iDICE) programme has unveiled plans to launch two additional funds in 2026 aimed at boosting Nigeria’s technology and creative
The initiative targets early-stage and growth-driven start-ups across the country.
The announcement was made as the iDICE Steering Committee, chaired by Vice President Kashim Shettima, confirmed the formal commencement of investments under the programme.
The milestone coincides with the successful $64 million first-round close of a new venture fund anchored by iDICE and managed by Ventures Platform, a leading pan-African seed-stage investor.
Ventures Platform was appointed Fund Manager for the technology component of iDICE in August 2025, following a competitive selection process supervised by the programme’s financing partners.
With the new capital, iDICE joins prominent institutional investors including the International Finance Corporation, Standard Bank of South Africa and British International Investment. The fund targets a final close of $75 million.
Vice President Shettima described the development as a major step toward unlocking the economic potential of young Nigerians.
The commencement of investing by iDICE is an exciting milestone and a leap forward in the determined efforts of the Government of Nigeria, under the leadership of His Excellency President Bola Ahmed Tinubu, to deliver on our vision of unleashing the full potential of Nigeria’s young people, in line with the Renewed Hope agenda,” he said.
Managing Director/CEO of the Bank of Industry, Dr Olasupo Olusi, said the investment strengthens the Federal Government’s commitment to scaling up the technology and creative sectors through strategic funding.
According to him, the partnership with Ventures Platform will “catalyse meaningful investments in high-growth, technology-enabled ventures and contribute significantly to Nigeria’s broader economic transformation, job creation and entrepreneurial empowerment.”
Founding Partner of Ventures Platform, Kola Aina, expressed optimism about the collaboration.
“We are delighted to have been selected as the iDICE Technology Fund Manager, partnering with the Federal Government and other key stakeholders to achieve our collective goal of supporting Nigeria’s young entrepreneurs and innovators to bring their ideas to life, creating deep value and transforming the country’s economy,” he said.
Beyond the technology fund, iDICE confirmed that two additional funding structures will be rolled out in 2026:
A Creative Sector Fund, designed to invest directly in creative industry start-ups.
A Fund of Funds, which will invest in smaller funds supporting technology and creative-sector ventures.
The three funding channels will complement the programme’s broader agenda around enterprise development, skills acquisition, policy reforms and access to blended finance.
Naija News understands that iDICE is a $617 million programme launched by the Federal Government to support Nigerians aged 15–35 through enterprise funding, digital skills training and ecosystem development across the tech and creative sectors.
The programme is backed by the African Development Bank, Islamic Development Bank and the French Development Agency, with the Bank of Industry serving as co-investor and implementing agency.
Since its inception in 2016, Ventures Platform has invested in over 90 African start-ups, including Paystack, Piggyvest, Moniepoint and LemFi.
The new investments mark a fresh phase in Nigeria’s push to build a globally competitive innovation ecosystem.
News
Military Coup: DSS Files Fresh Charges Against Nigerian
The Department of State Services (DSS) has filed a six-count charge against Innocent Chukwuemeka Onukwume for allegedly advocating for a military coup in the country.
Naija News reports that the DSS, in the charge, filed before the Federal High Court in Abujja, marked: FHC/ABJ/CR/610/2025, said Onukwume, of Umusayo Layout, Oyigbo LGA of Rivers State, allegedly committed the offence in October 2025.
In the charge filed on Tuesday, the DSS stated that by his conduct, Onukwume committed offences contrary to and punishable under Sections 46 A (1) and 59 (1) of the Criminal Code Act.
According to Zagazola Makama, Onukwume would be arraigned before the end of the week.
Some counts in the charge read:
“That you, Innocent Chukwuemeka Onukwume, male, 27 years old of Umusayo Layout, Oyigbo LGA of Rivers State, sometimes in October, 2025 having the intent to cause fear and alarm to the public or to disturbing the public peace, posted a message calling for a coup in Nigeria on your social media account to wit: your verified X account (@theagroman), by which you published the following words: “A coup in Nigeria is needed. Dispose of APC, suspend the Nigeria government and join the AES. That is all we need now.’ You thereby committed an offence punishable under section 59 (1) of the Criminal Code Act, Cap 77, Laws of the Federation of Nigeria, 2004.
That you, Innocent Chukwuemeka Onukwume, male, 27 years old of Umusayo Layout, Oyigbo LGA of Rivers State, on or about 15th day of October, 2025 and within the jurisdiction of this honorable court, with intent to cause annoyance, inconvenience, danger, obstruction, insult, enmity, criminal intimidation, hatred, ill will or needless anxiety, against the government of the Federal Republic of Nigeria, knowingly and intentionally posted a message on the social media via your verified account, to wit: your verified X account (@theagroman), by which you published the following words: ‘It will happen eventually, Nigerian. The military needs your support now! Only them can save this country. The bastard in Aso Rock has basically sold this country to the West and they run our intelligence apparatus only the military can reset this country.’ You thereby committed an offence Contrary to Section 24 (1) (b) of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2024 (As Amended).
That you, Innocent Chukwuemeka Onukwume, male, 27 years old of Umusayo Layout, Oyigbo LGA of Rivers State, on or about 15th day of October, 2025 and within the jurisdiction of this honorable court, with intent to cause annoyance, inconvenience, danger, obstruction, insult, enmity, criminal intimidation, hatred, ill will, or needless anxiety, against the government of the Federal Republic of Nigeria, knowingly and intentionally posted a message on the social media via your verified account, to wit: your verified X account| (@theagroman), by which you published the following words: “Tinubu has to go and APC has to die for Nigeria to have any semblance of normal life. And if you think your stupid, votes can remove Tinubu. I’m here to tell you that you’re a fool.’ You thereby committed an offence Contrary to Section 24 (1) (b) of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2024 (As Amended).
That you, Innocent Chukwuemeka Onukwume, male, 27years old of Umusayo Layout, Oyigbo LGA of Rivers State, on or about 15th day of October, 2025 and within the jurisdiction of this honorable court, with intent to cause annoyance, inconvenience, danger, obstruction, insult, enmity, criminal intimidation, hatred, ill will, or needless anxiety, against the government of the Federal Republic of Nigeria, knowingly and intentionally posted a message on the social media via your. verified account, to wit: your verified X account (@theagroman), by which you published the following words: “A coup in Nigeria is needed. Dispose of APC, suspend the Nigeria Government and join the AES. That is all we need now.’ You thereby committed an offence Contrary to Section 24 (1) (b) of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2024 (As Amended).”
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‘Wike Has Disgraced Public Office’ – CSO Knocks FCT Minister Over Clash With Soldiers
A Civil Society Group has slammed the Minister of the Federal Capital Territory (FCT), Nyesom Wike, over his altercation with a military officer over the demolition of a property belonging to an ex-Chief of Naval Staff.
Naija News reports that the Executive Director of the Civil Society Legislative Advocacy Centre (CISLAC), Auwal Musa Rafsanjani, in an interview with the Daily Trust, asserted that Wike, through his conduct, disgraced public office.
Rafsanjani stated that Wike’s actions portray governance in a negative light and could erode public confidence in government institutions.
He said, “I think Wike has disgraced public office. You cannot come and be doing thuggery as a public official. There should be a civilized way of handling things.
In my opinion, what Wike has done by insulting a Nigerian Army officer is very disrespectful. To be seizing land; I don’t think that is what the president has assigned him to do. We are calling on the president to seriously caution Wike for his behavior because he is ruining the reputation of the office of a minister.
“This is not how to govern. We have had several ministers in Abuja; nobody has done this kind of thing. You can do things in a very civilized way.”
Rafsanjani also referenced allegations by Senator Ireti Kingibe and others that Wike had been reallocating lands to cronies.
According to the civil society advocate, the Minister’s behaviour was unacceptable and called on President Bola Tinubu to caution him.
He added, “Seizing people’s land that they acquired legitimately and allocating it to your own friends, as alleged by the FCT Senator and others, is not good for the government. Therefore, we are calling on Mr. President to caution Wike. The way and manner he carries out his duties is not promoting the good work of the government or the Presidency.
“This work should be done with civility and due process. You cannot come and be doing this garagara to the extent of insulting Army officers who were instructed to be there. They didn’t go by themselves, and they told him that.”
News
Pensioners Threaten Nationwide Naked Protest Over Unpaid Arrears
The Coalition of Federal Pensioners of Nigeria has threatened to hold a nationwide protest on November 24 if the Federal Government fails to pay the outstanding pension increment arrears and palliative allowances owed to pensioners.
Speaking at a news conference on Tuesday, November 11, in Lagos, the Coalition’s National Chairman, Mukaila Ogunbote, revealed that the Federal Government had failed to fulfil its promise of paying the ₦32,000 pension increment arrears and the ₦25,000 palliative allowance, which had been approved since 2023.
Ogunbote, who is also the Chairman of the Nigeria Union of Pensioners, NIPOST Chapter, said the protest would take place unless the payments were made by November 23.
We were told that our arrears would be paid within two weeks of the approval, yet nothing has been done,” Ogunbote stated.
“If by November 23, we do not receive payment, all pensioners nationwide will embark on a naked protest on November 24,” he warned.
Ogunbote also disclosed that pensioners in the diaspora had expressed their support and would join the protest from their respective countries, making the protest not just a nationwide event, but a global one.
He appealed directly to President Bola Tinubu to intervene and direct the Minister of Finance and the Accountant-General of the Federation to release the funds.
“Many pensioners have died and many more are dying due to hardship, as they are unable to feed well or access proper medical treatment when ill,” Ogunbote lamented.
The coalition’s chairman further criticized the government for paying workers their ₦35,000 palliative allowance, while pensioners, who he argued are more vulnerable, have been left out.
Workers received the ₦35,000 palliative in a month, but up till now, pensioners have not been paid the ₦25,000 approved for us. We are more vulnerable than anyone else,” he said.
Ogunbote also expressed disappointment at the Nigeria Labour Congress (NLC) for not supporting the pensioners’ demand more actively. He called for unity among workers to address the perceived injustices perpetrated by the government, which he accused of prioritizing other expenditures while neglecting pensioners.
The pensioners’ representatives, including Ogunbote, also appealed to the government to release the owed funds before December to allow pensioners to prepare for the upcoming Christmas celebrations with dignity.
The President of the Civil Service Pensioners, Francis Oluwo, lamented that the individuals surrounding President Tinubu were not following through on the instructions issued to them.
Oluwo also called on the Federal Government to act swiftly, noting that many retirees are living in poor health conditions and struggling to afford basic needs like food and medication.
Bridget Obieto, the Assistant Secretary of the Voice of Nigeria Pensioners Association, echoed these sentiments and urged the NLC to use its influence to help address the pensioners’ demands.
We have served this country faithfully for over 35 years. Now that we are old, the government must not abandon us,” she said.
Obieto appealed to President Bola Tinubu and First Lady, Senator Oluremi Tinubu, to ensure the prompt payment of arrears before December to enable pensioners to celebrate the festive season with dignity.
The Chairman Emeritus of the Nigeria Union of Pensioners, NIPOST Chapter, Elijah Akindutire, also called for the payment of the arrears.
Akindutire urged pensioners to turn out in large numbers for the protest on November 24 to show the government their resolve.
“We are determined to make our voices heard,” Akindutire said.
The pensioners remain hopeful that the Federal Government will act before the deadline, but their resolve to protest has made their intentions clear.
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