Economy
2025: FCMB, FMO Unveil N20m AgriTech Investment Readiness Programme For Nigerian Startups
2025: FCMB, FMO Unveil N20m AgriTech Investment Readiness Programme For Nigerian Startups
2025: FCMB, FMO unveil N20m AgriTech investment readiness programme for Nigerian startups. First City Monument Bank (FCMB) and the Dutch Entrepreneurial Development Bank (FMO) have announced the launch of the FCMB–FMO AgriTech Investment Readiness Programme 2025.
According to the financial institutions, the initiative aspires to identify, support, and finance Nigeria’s most promising agritech startups and small to medium-sized enterprises (SMEs).
In collaboration with Heave Ventures, the programme, the banks said, is designed to enhance access to capital while fostering the scalability of innovative agritech businesses.
“It will feature a competitive grant prize pool of ₦20 million, awarded to ventures recognised as best positioned for investment.
The programme will also include digital learning and fundability scoring through Zimara. This proprietary platform leverages alternative data and established readiness benchmarks to identify bankable ventures.
Applications for the programme are now open and will remain accessible from August 8 to September 12, 2025. Following this period, the top twenty startups will participate in an intensive six-week investment readiness programme, culminating in a pitch presentation to a panel of esteemed funders in October 2025,” a statement jointly signed by the banks read.
Mr. Kudzai Gumunyu, Divisional Head of Agribusiness & Non-Oil Exports at First City Monument Bank, said: “This programme is more than providing traditional funding; it is a commitment to nurturing and empowering agritech startups to contribute to the agribusiness landscape and unlock its full potential.
It reflects our mission to drive inclusive and sustainable growth through an African-rooted ecosystem that connects people, capital, and markets.
This initiative will help nurture and prepare these startups for investment opportunities, enhancing their potential to contribute to the agritech landscape in Nigeria.”

FCMB, FMO Unveil N20m AgriTech Investment
The CEO of Heave Ventures, Abiodun Lawal, expressed his thoughts on the programme’s impact, stating: “Scaling agribusiness innovation has the potential to revitalise entire value chains — from production to processing to export — creating millions of decent jobs, boosting foreign exchange earnings, and positioning Africa not merely as a consumer but as a vital global food and agricultural technology supplier.
Agriculture is a powerful lever in the fight against poverty and unemployment and in achieving food sovereignty. Investing in agribusiness is an investment in the continent’s economic independence, resilience against global challenges, and the dignity of its people.
We are delighted by the commitment shown by FCMB and FMO in supporting agritech startups and assisting them in their developmental journey.”
Economy
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.
The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.
Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.
He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.
“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly
“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”
Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.
Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.
He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.
Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.
Crime
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Tuesday, February 3, 2026 arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.
Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC
Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.
The suspect will be charged to court upon conclusion of investigations.
Dele Oyewale
Head, Media & Publicity
February 3, 2026
Economy
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.
Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.
Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.
Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.
She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

Access Bank Gets New Board Chair Ifeyinwa Osime
Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.
“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”
Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.
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