News
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
Nigerian Gov Announces Fresh Public Holiday for Workers Across State
The Ekiti State Government has declared Friday, June 19, 2026, a work-free day for public servants in the state.
Naija News reports that the government said the holiday was to enable workers to travel to their respective voting centres ahead of the governorship election scheduled for Saturday, June 20.
This was contained in a statement issued on Thursday by the Permanent Secretary to the Head of Service, Janet Ajibola.
“His Excellency, the Governor of Ekiti State, Biodun Abayomi Oyebanji, has graciously declared Friday, 19th June, 2026, as a work-free day for all public servants across the state,” the statement read.
Ajibola said the directive was addressed to commissioners, special advisers, the Secretary to the State Government, permanent secretaries, the Clerk of the House, heads of tertiary institutions, the Registrar of the High Court of Justice, general managers, executive secretaries and heads of departments.
“For the purpose of public safety and continuity of essential services, hospitals and health centres, fire service departments and other essential service providers are exempted and shall continue to provide appropriate services,” the statement added.
The Permanent Secretary urged heads of exempted essential institutions to ensure uninterrupted service delivery during the election period.
She also directed chief executive officers and accounting officers across state parastatals to ensure compliance and wide circulation of the directive.
News
BREAKING: Mixed Reactions as Tinubu Announces Fresh Appointment
The news of Kunle Elebute by President Bola Ahmed Tinubu as the chair of the Governing Board of the Financial Reporting Council of Nigeria (FRCN). has started generating reactions from Nigerians.
Kunle Elebute, a renowned chartered accountant and financial management consultant, as the chair of the Governing Board of the Financial Reporting Council of Nigeria (FRCN).
This was disclosed in a statement by the presidency on Thursday, June 18, adding that his appointment, adding that his appointment was meant to strengthen corporate governance, deepen accountability and transparency, as well as enhance the confidence of investors within the financial reporting ecosystem of Nigeria.
According to The Punch, Elebute is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) with over 40 years of professional experience in Nigeria, West Africa and the world at large. Elebute had earlier served as the senior partner and chief executive officer of KPMG Nigeria, the KPMG West Africa chairman and the chairman of KPMG Africa.
Also, he had served on the regional and global boards of KPMG, such as its Global Board Audit Committee.
In the statement, he was described as a highly respected professional with wide experience in financial advisory services, auditing, strategic transformation, risk consulting and corporate governance.
Below are some of their comments:
Segun Benson said the appointment should have gone to another qualified person in another region of the country: “I would have expected Mr President to appoint a qualified person from another region.. no shades.”
Dimeji Lawal said that Nigerians are on the lookout for the effect of the appointment: “The appointment is one thing. The impact of the appointment is what Nigerians will be watching.”
Danjuma claimed that Tinubu’s appointments are following a particular pattern of the late former president Muhammadu Buhari: “I like Tinubu for this, he is following the footsteps of Buhari, who fulanised Nigeria with his appointments.”
Shamsuddeen commended the appointment of Elebute by President Tinubu, describing it as wonderful: “That’s another wonderful selection by President Tinubu GCFR by appointing Mr Elebute. Congratulations sir.”
News
Tinubu Makes Fresh Top Appointment
President Bola Tinubu has approved the appointment of Kunle Elebute as the Chairman of the Governing Board of the Financial Reporting Council of Nigeria.
Naija News reports that the appointment was disclosed in a statement signed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Thursday.

Mr. Kunle Elebute
Elebute is a former Chief Executive Officer of KPMG Nigeria and previously served as Chairman of KPMG Africa.
During his illustrious career, he also served on KPMG’s regional and global boards, including its Global Board Audit Committee.
He is an accountant and economist with several decades of experience in auditing, financial advisory, corporate governance, and business consulting.
“Mr Elebute’s appointment comes at a pivotal time as the FRCN advances key institutional priorities, including ongoing engagements under the UK-Nigeria Enhanced Trade and Investment Partnership and broader efforts to align Nigeria’s corporate reporting framework with international best practices.
“The Federal Government is confident that his wealth of experience, leadership, and governance expertise will further strengthen the Council’s mandate and support the Renewed Hope Agenda’s objective of building a more transparent, competitive, and investment-friendly economy,” the statement added.
The Financial Reporting Council is the agency responsible for setting and enforcing accounting, auditing, actuarial, valuation, and corporate governance standards in Nigeria.
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