The Minister of Transportation, Senator Said Ahmed Alkali, has expressed deep sorrow over the death of the Gombe State Commissioner for Internal Security, Col. Abdullahi Bello (rtd), who tragically lost his life in an auto crash along the Malam Sidi–Gombe Road on Friday.

In a condolence message issued by his Special Assistant on Media, Mallam Jibril Alkali, the Minister described the late Commissioner as a dedicated public servant and a patriotic Nigerian who served with integrity, courage, and distinction.

Senator Alkali paid tribute to Col. Bello and his police orderly, Sergeant Adamu Husaini, who also died in the crash, commending their unwavering commitment to duty and their contributions to public administration and community security in Gombe State.

“The demise of the Commissioner for Internal Security, Col. Abdullahi Bello (rtd), is a painful loss to Gombe State and Nigeria as a whole. He was a man of honour, discipline, and selfless service whose legacy of excellence will remain indelible,” the Minister stated.

He further noted that the late Col. Bello’s exemplary record of service and his dedication to strengthening Gombe’s security framework will continue to inspire future generations, especially those in leadership and public service.

Senator Alkali extended his heartfelt condolences to the Governor of Gombe State, Muhammadu Inuwa Yahaya, the widow and children of the deceased, as well as members of his immediate and extended family.

He prayed to Almighty Allah to forgive the shortcomings of the departed, accept his good deeds, and grant him eternal rest in Al-Janatul Firdaus.

Organised crime groups are weaponising cyberspace more than ever before, with staggering costs and consequences that continue to grow. To stop 21st-century cybercriminals, we need countries to sign up to the new UN Convention against Cybercrime now.

Organised crime has long been one step ahead of law enforcement. Modern transnational organised crime groups are dynamic and increasingly decentralised, operating through flexible structures across borders while making and laundering vast profits.

Cybercrime has given organised crime groups an exponentially greater advantage.
Thanks to technology, crime groups can operate from the city or country where they are least likely to get caught and carry out operations in the places they are most likely to profit, faster than ever before, at a scale previously unimaginable.

Cybercriminals exploit digital systems through malware, ransomware and hacking to steal money, data and other valuable information. Or they use technology to facilitate other “traditional” crimes, like trafficking, money laundering and fraud. And they are selling code and services to the highest bidders.

Online child sexual exploitation through social media, ransomware shutdowns of hospitals, fatal cocktails of illicit substances bought anonymously on a dark market: these are just some of the many facets of transnational organised crime today.

Organised crime groups are at the forefront of technology adoption. For example, UNODC research has documented how scam compounds are integrating AI into their operations, combining multilingual chatbots and automated outreach to target victims worldwide for fake romance and investment scams, while using cryptocurrency to launder criminal proceeds.

The next generation of cyber organised crime is here, and the world is not ready. While criminal models have seamlessly integrated new tech to bring down risk and maximise profit, responses across the globe remain fragmented and partial, and cybercriminals are exploiting vulnerabilities with devastating consequences. Vast seas of personal data stolen. Public systems and services are debilitated. Life savings were wiped out, and businesses were bankrupted by ransom demands. People were exploited, robbed and killed.

This isn’t a distant future. In the United States, the FBI Internet Crime Report found that suspected internet crime losses increased 33 per cent from 2023 to 2024, to exceed 16 billion dollars, while Eurojust reported a 25 per cent increase in the number of cybercrime cases over the same period. Canada’s national cyber threat assessment notes that the number of ransomware incidents grew an average of 26 percent per year from 2021 to 2024.

Even the private sector cannot keep up. According to the World Economic Forum, some 71 percent of chief information security officers surveyed said that small organisations have already reached a critical tipping point where they can no longer adequately secure themselves against the growing complexity of cyber risks. More than 76 per cent said that fragmentation across jurisdictions has greatly affected their organizations’ ability to maintain compliance with cybersecurity regulations.

These are the risks and repercussions that high-income countries and multinationals face. The threats are far more devastating for the developing world, where the adoption of digital technology is moving faster than the readiness to face the new threats that come with it.

Take Sub-Saharan Africa, where digital adoption is surging and mobile money accounts have surpassed one billion, according to the Global System for Mobile Communications Association. Yet only five countries from the region are in the top tier of the ITU’s Global Cybersecurity Index.

And a compromised system in one place can be used by cybercriminals to attack systems in another. Some reports have developed countries have been used as testing grounds for new ransomware attacks, and organised crime groups operating in Asia have explored setting up shop in Africa.

We urgently need to do more to give governments, law enforcement, companies and communities a fighting chance against cybercrime. We need to strengthen legal and regulatory frameworks around the world, provide training and equipment to enforcement agencies and promote cross-border cooperation. We also need to raise awareness and improve digital literacy to reduce victimisation, build cybercrime resilience and strengthen prevention.

The UN Convention against Cybercrime will open for signature in Hanoi, Viet Nam, at the end of October. The Convention is the result of a five-year negotiation process between UN Member States, and some 160 organisations – tech companies, civil society, academia – had a voice in the consultations. It was adopted at the end of 2024 by the United Nations General Assembly without a vote. It is the first global agreement of its kind, providing for international cooperation and human rights safeguards in the joint fight against cybercrime, and representing a victory for multilateralism.

Once in force, the Convention will be the first ever global framework for the collection and sharing of digital evidence – a crucial step in going after transnational criminals who might be in one location while victimising people in multiple countries and storing the evidence in another place entirely. An agreed international framework will help ensure that digital evidence can be admissible across jurisdictions, giving criminals no place to hide online or off. The Convention is also “futureproof”, defining crimes based on activities and outcomes and not the technologies used, ensuring that it will serve as an effective instrument even as technology and cybercrime evolve. In addition, it takes huge strides to protect victims of online abuse, especially women and children, establishing criminal offences for the non-consensual dissemination of intimate images as well as for child sexual exploitation and abuse online.

Our cybercrime defences are only as strong as the weakest link. The Convention will provide clear and agreed international rules and regulations, and help channel training and resources to shore up cybercrime responses in every part of the world. We need governments to sign up and invest in a safer digital future for all.

For more on the UN Convention against Cybercrime, which opens for signature 25-26 October 2025 in Hanoi, Viet Nam: www.unodc.org

The former Chief of Naval Staff, Vice Admiral Ikechukwu Ogalla, has commissioned the nine state-of-the-art strategic security projects executed by the Niger Delta Development Commission (NDDC) in Ayakoro, Ogbia Local Government Area of Bayelsa State.

The former Navy Chief, represented by the Commander, Operation Delta Safe, Rear Admiral Noel Madugu, stated that the operational facilities handed over by NDDC would bolster the Nigerian Navy’s presence and security operations.

He observed that Ayakoro was an important town located on the river, making it strategic and crucial for maritime security in the Niger Delta region.
He stated: “The event we are witnessing today is a statement of the existing close collaboration between the NDDC and the Nigerian Navy, which is geared towards addressing maritime security challenges in the region.

“I commend the vision and commitment of the leadership of the NDDC for citing the security project at Ayakoro with a view of addressing security challenges associated with the maritime environment in the region.”

“The Navy will spare no effort to ensure that objectives for which the security projects are provided will be fully realised.”

He solicited community support in intelligence sharing to enhance the operational effectiveness of the Nigerian Navy.

The Bayelsa State Governor, Senator Duoye Diri, stated that the Niger Delta region contributes substantially to Nigeria’s foreign exchange earnings, noting that it was evident that most of Nigeria’s maritime domain and international coastline outside of Lagos, all of which are within the Gulf of Guinea, are in the coast of the Niger Delta.

Governor Diri, represented by Brigadier General Eric Angaye (Rtd.), stated that the Niger Delta region was critical to Nigeria’s oil economy.

In his speech, the NDDC Managing Director, Dr Samuel Ogbuku, emphasised that security and development are interconnected and that a strong partnership with security agencies was crucial for sustainable development in the region.
Ogbuku reiterated the NDDC’s commitment to supporting security agencies in securing the waterways. He noted that the increased output of Nigeria’s crude oil was dependent on a secure marine environment, which required sustained collaboration with security forces.

He said that the NDDC has a history of providing infrastructure and other forms of support to the Nigerian Navy, including: including Building jetties for naval operations, Constructing schools and other infrastructure within naval bases and Assisting in the completion of numerous other projects at naval installations.
The Managing Director emphasised the need for collaboration to ensure that the Niger Delta region remained peaceful, noting that development could only take place in an atmosphere of peace and security.

He stated: “President Bola Ahmed Tinubu is committed to the peace and development of the Niger Delta region, and he has given us a matching order to embark on legacy projects that will stand the test of time and impact lives in the region. We cannot achieve this if there is no peace.”

“For us in NDDC, we will continue to collaborate with the security agencies to ensure that there is sustainable peace that will usher in development.”
Ogbuku stated that under the leadership of the current Board and Management, the Commission has demonstrated a commitment to achieving the Renewed Hope Agenda of President Tinubu, who is concerned about the development of the Niger Delta region.

Giving a brief overview of the projects, the NDDC Executive Director of Projects, Dr Victor Antai, listed the various projects scheduled for commissioning. “They are: fully Furnished Administrative block; Fully Furnished Accommodation block; Fully furnished 40-man houseboat with two units of 100kva Generators; two units of Gun Boats powered by 200 Hp units of Yamaha engines each; The host to God community, Ayakoro, will give the Nigerian Navy hectares of land as a gift to build a Navy school; A 60kVA Solar inverter installed in the Administrative and Accommodation blocks, respectively, as backup power; A 30kVA Solar inverter installed in the 40-man houseboats as backup power; A full-option Toyota Hilux Vehicle for Operational use; A Newly Built Operational Floating Jetty.”

He said the initiative aims to enhance maritime security in the region, addressing critical needs and ensuring the safety of both local communities and maritime activities. The NDDC remains committed to making a difference in the Niger Delta, fostering a more secure and sustainable environment.

The Acting Paramount Ruler of Ayakoro, Chief Micah Etebi, affirmed that the projects handed over to the Navy were testaments that the NDDC is impacting the people of the Niger Delta region.

The Administrator of the Presidential Amnesty Programme, Dr Dennis Otuaro, has expressed his deep condolences to former Special Adviser to the President on Niger Delta and Chairman of the PAP, Dr Kingsley Kuku, on the demise of his mother, Ma Keketobou Jane Kuku.

Madam Kuku passed away on Tuesday, 14th October, 2025, at the age of 90.

Dr Otuaro said he received news of the passing of the Kuku family matriarch with profound shock and sadness.

He described Madam Kuku as a woman of virtue who lived a remarkable life and raised her family with the fear of God, hard work, love, discipline and sacrifice.

Dr Otuaro said it was not surprising that the imprint of her strong moral standing and uprightness in life was exemplified in the character of her children, particularly Kingsley, who exhibited such principles of firmness and dedication to the cause of humanity in public service.

He noted that Madam Kuku was not only dedicated to her faith but also to the progress of her Arogbo Ijaw community in the Ese Odo Local Government Area of Ondo State.

While condoling with Kuku, Dr Otuaro urged the former presidential aide, his siblings and the extended families to accept her death as the will of God.

He also advised them to be consoled by the life of purpose and service to the community and humanity, as their matriarch had lived.

The PAP boss prayed to God to grant the soul of Madam Kuku eternal repose and also comfort Kingsley, the entire family and all those she left behind.

Private equity (PE) and venture capital (VC) have emerged as key drivers of Nigeria’s rapidly evolving startup ecosystem, generating over $1 billion in annual funding and reshaping how early-stage businesses access growth capital, according to a new report by Rome Business School Nigeria.

The report, titled “Private Equity and Venture Capital in Nigeria: A New World of Startup Funding,” highlights how PE and VC investments are bridging funding gaps for startups, enabling innovation, competitiveness, and business expansion across multiple sectors — especially technology.

Nigeria Leads Africa in Startup Funding

Nigeria led Africa’s venture capital market in 2024, attracting approximately $1.18 billion of the continent’s total $3.6 billion VC funding. Major deals such as Moniepoint’s $110 million and Moove Africa’s $100 million rounds underscore the country’s growing investor confidence. Private equity investments also surged by 322% in the first quarter of 2024 alone.

Between 2020 and 2024, Nigeria recorded 404 private capital transactions valued at US$3 billion, accounting for 66% of West Africa’s deal volume and 52% of its total deal value. The average deal size during the period stood at US$9.7 million.

The technology sector remains the top beneficiary, attracting 82% of venture capital activity, amounting to US$2.7 billion. The financial services and infrastructure sectors followed, with US$1.5 billion and US$562 million in deals, respectively. Lagos remains the hub, hosting over 65% of all VC transactions.

Beyond Capital: Mentorship and Market Access

The report notes that PE and VC investors provide more than just capital — they offer strategic mentoring, operational guidance, and market access, helping startups grow sustainably. This model has fostered the rise of Nigerian unicorns such as Flutterwave, Paystack, Opay, PiggyVest, and Kuda, each showcasing the benefits of sound business structure and transparent management.

“Investors value companies with scalable business models, clear control systems, and strong leadership,” the report observes, adding that transparency and efficient management are crucial to sustaining long-term investor relationships.

Challenges: FX Volatility and Regulatory Barriers

Despite its rapid growth, Nigeria’s private capital sector faces significant hurdles, including foreign exchange instability, regulatory inconsistencies, and economic constraints. The report cites Nigeria’s 30% corporate tax rate and 7.5% VAT as major deterrents to investors, alongside unreliable power supply, infrastructure deficits, and insecurity.

In 2023, foreign direct investment inflows declined by 26.7%, driven by investor concerns over currency depreciation and policy unpredictability. Although 2024 saw improvements in Nigeria’s VC profile, deal value and volume fell by 22% and 28% year-on-year respectively.

Technology Sector Tops Investor Interest

Technology continues to dominate PE and VC investments in Nigeria, particularly the fintech industry, which accounts for roughly 60% of VC transactions. Major beneficiaries include Flutterwave ($475 million), Opay ($400 million), Moniepoint ($110 million), and Moove Africa ($100 million). Paystack’s $200 million acquisition by Stripe further solidified Nigeria’s position as a continental innovation hub.

Beyond fintech, emerging sectors such as healthtech, agritech, edtech, and green energy are gaining traction, attracting hundreds of millions of dollars in funding and promising inclusive, technology-driven growth.

PE and VC Boost Corporate Performance and Jobs

The Rome Business School report also reveals that PE-backed firms outperform their peers in governance, competitiveness, and market resilience. Private capital funding has helped revive struggling companies through strategic restructuring and capital injection, enhancing business sustainability.

Private equity and venture capital have also become major contributors to job creation and economic diversification. According to PwC, every $1 million invested in PE/VC-backed firms creates about 40 direct and indirect jobs. With Nigeria’s unemployment rate at 38%, the role of private capital in generating employment and boosting productivity remains critical.

Bright Outlook for the Future

Looking ahead, the report projects sustained transformative growth for private equity and venture capital in Nigeria, driven by economic diversification, youth-driven innovation, and digital transformation.

The nation’s expanding digital infrastructure, rapid mobile and internet penetration, and increasing pension fund participation in private capital are reshaping the investment landscape. In 2024, Nigerian pension funds invested over ₦22 trillion (about $13 billion) in private equity — a sign of growing institutional confidence.

“Technology is the most transformational force shaping the future of PE and VC in Nigeria,” the report concludes. “As the country deepens digital adoption and economic diversification, the demand for private capital will continue to accelerate.”

..as Minister Launches Achievement Compendium and Relaunches ESI Map, Commends NOSDRA’s High Integrity Ranking, Promises Support to Reduce Artisanal Refining Spills

Abuja, Nigeria – The Federal Government has praised the exceptional work of the National Oil Spill Detection and Response Agency (NOSDRA), its Director-General, Engr Chukwuemeka Woke and the management team after the public unveiling of the Agency’s Compendium of Achievements and the relaunch of the Environmental Sensitivity Index (ESI) Map.

Honourable Minister of Environment Mallam Balarabe Abbas-Lawal, recognised these efforts during the official ceremony at the Abuja Continental Hotel on Tuesday.

He called the event a sign of Nigeria’s commitment to environmental protection, accountability, and sustainable development under President Bola Ahmed Tinubu’s Renewed Hope Agenda.

In his keynote address, the Minister stressed that the Compendium and the updated ESI Map offer a clear, evidence-based record of NOSDRA’s efforts.

This aligns with the Federal Government’s move toward data-driven environmental governance.

Mallam Abbas-Lawal shared significant results, noting that NOSDRA completed 1,424 Joint Investigation Visits (JIVs), recovered 15,980 barrels of crude oil from 1,512 spills, and issued 660 Closeout Certificates for major clean-up projects, including those in Bodo and the Hydrocarbon Pollution Remediation Project (HYPREP) sites.

The Minister celebrated the Agency’s recognition as the top-performing MDA in Nigeria’s Transparency and Integrity Index for both 2023 and 2024. He called it a remarkable achievement of institutional excellence.

While acknowledging these successes, the Minister expressed concern about the rising issue of artisanal refining, responsible for about 82 percent of oil spills in the country.

He urged NOSDRA to step up surveillance, community engagement, and enforcement efforts to combat this harmful practice.

Mallam Balarabe Abbas-Lawal reaffirmed the Ministry’s support for NOSDRA in its mission to create a cleaner, safer, and more sustainable oil and gas industry.

Mr. Edward Omo-Erewa, the Chairman of the NOSDRA Governing Board, also spoke. He congratulated Engr. Chukwuemeka Woke and the entire staff, praising their professionalism and achievements as a clear sign of effective leadership and teamwork.

He observed that NOSDRA’s proactive approach and consistent recognition both nationally and internationally prove its operational excellence.

In his opening remarks, Director-General Engr. Chukwuemeka Woke expressed deep gratitude to the Minister, the Governing Board, and all stakeholders.

He pointed out that the Compendium and ESI Map relaunch not only record progress across policy, capacity building, and enforcement but also reaffirm the Agency’s commitment to transparency and stewardship of the environment.

Engr. Woke mentioned the Agency’s reliance on technological innovation, citing platforms like the Oil Spill Monitor, Gas Flare Tracker, and Methane Emission Tracker to provide real-time environmental data.

He noted that the relaunch of the Environmental Sensitivity Index (ESI) Map marks significant progress, as the new version combines geospatial and socio-economic data to enhance timely and coordinated responses to oil spills.

The DG credited the Agency’s success to the combined efforts of its staff and stakeholders, promising to maintain the focus on accountability and innovation.

The ceremony wrapped up with key stakeholders and development partners offering goodwill messages, commending NOSDRA’s ongoing transparency and leadership.

Dignitaries then jointly unveiled the Compendium and the relaunched ESI Map, marking a new chapter in Nigeria’s environmental management efforts.