The federal government has selected 65 student innovators
from a total of 30,639 applicants across 404 tertiary institutions nationwide
to advance to the final stage of the student venture capital grant (SVCG).

The scheme, introduced in November 2025 in collaboration
with the Bank of Industry (BoI), aims to provide up to N50 million in
non-dilutive funding to student-led ventures that have reached the
commercialisation stage.

In a statement issued on Monday, Folasade Boriowo, director
of press and public relations at the federal ministry of education, said the
initiative was designed to support young entrepreneurs in scaling their ideas,
creating jobs, and boosting the economy.

Boriowo added that the programme is a key initiative of
President Bola Tinubu’s administration, noting that the shortlisted candidates
are developing solutions in sectors critical to national development.

According to her, Tunji Alausa, minister of education,
described the initiative as a deliberate investment in the next generation of
innovators and job creators.

She added that the minister expressed optimism about the
creativity and ambition demonstrated by the finalists, noting that reaching the
final stage marks a significant milestone.

“The minister also stressed that the selection process was
rigorous and transparent, adding that the programme is helping to build a
pipeline of entrepreneurs who will contribute to Nigeria’s economic growth,”
Boriowo said.

She said applications were first subjected to AI-driven
screening to determine eligibility and alignment with the programme’s
objectives, followed by human review.

“Entries that passed this stage were then evaluated by a
panel comprising representatives from government, academia, industry, and the
investment community, using criteria such as scalability, feasibility, founder
capability, and impact potential,” she added.

“The 65 finalists are expected to participate in an
intensive venture development bootcamp between March 26 and 29.

“Activities will include pitch presentations, workshops,
live assessments, and investor feedback aimed at strengthening their ventures.

The final grant recipients will be selected based on
application scores, bootcamp performance, and recommendations from the
evaluation panel.

“The programme will conclude on March 29, 2026, with an
awards ceremony where beneficiaries of the N50 million funding will be
officially announced.”

Student venture capital grant

Aprokorepublic

Senator Ali Ndume, representing Borno South, has raised a strong alarm that Nigeria could lose parts of Borno State and the entire North-East region to terrorist groups if urgent action is not taken.

The former Senate Leader urged the federal government to immediately double its efforts in fully equipping the Nigerian Army with sophisticated arms and ammunition to effectively combat insurgency and banditry.

Ndume made the call in a statement issued on Tuesday, citing recent attacks by Boko Haram and ISWAP, including coordinated assaults in Ngoshe community in Gwoza Local Government Area, where soldiers were killed and troops were reportedly overwhelmed due to lack of adequate ammunition.

“The military was initially overwhelmed by the superior firepower of the terrorist groups,” he said, adding that soldiers sometimes had to retreat from positions like Ngoshe and Pulka because they lacked sufficient firepower.

Ndume stressed that without decisive action to properly arm and support the troops, the territorial integrity of Borno and the North-East remains at serious risk.

He called on the federal government to intensify support for the military, including providing modern weapons and resources needed to reclaim and secure the affected areas.

The warning comes amid renewed insurgent activities in parts of Borno, with terrorists continuing hit-and-run tactics and targeting both military formations and civilian communities.

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The National Youth Service Corps (NYSC) has dismissed as false a viral report alleging that the scheme operates a ‘ransom clause’ and exposes corps members to banditry, as fears over security and postings intensify across the country.

The rebuttal comes amid growing unease among families of corps members, with recent incidents and online narratives amplifying safety concerns.

The NYSC says it is stepping in to set the record straight and reassure Nigerians that corps members are not left exposed.

The position was contained in a statement issued on Wednesday by Caroline Embu, Director of Information and Public Relations, on behalf of the NYSC management.

“The Management and Staff of the National Youth Service Corps (NYSC) have noted with serious concern the circulation of a misleading and alarmist write-up titled ‘Urgent: The NYSC Death Trap Our Graduates Are Being Sold to Bandits,’” the statement said.

“For the avoidance of doubt, the National Youth Service Corps categorically states that there is no provision whatsoever for any ‘ransom clause’ in the NYSC Act, Bye-laws, or any official publication of the Scheme. This claim is entirely fictitious and should be disregarded in its entirety.”

At the centre of the controversy is the case of Musa Usman Abba, which the NYSC says has been wrongly linked to the scheme.

“Furthermore, the Scheme deeply empathises with Mr. Musa Usman Abba and his family over the unfortunate incident, and we share in their concern during this difficult time… While this situation is distressing, it is important to clarify that he is not a serving Corps Member, having completed his national service in 2023,” the NYSC clarified.

Amid the heightened concerns, the Scheme said it continues to work closely with security agencies to protect corps members nationwide.

“On the issue of security, recognised as a broader national challenge, the NYSC works in close collaboration with relevant security agencies to safeguard Corps Members before, during, and after orientation exercises.

“Corps Members posted to areas assessed as high-risk are provided with adequate security arrangements, including military escorts. This proactive approach has been consistently implemented since 2024 in the North West and much earlier in some parts of the North East,” the statement added.

The Scheme also pointed to adjustments made in response to evolving threats.

“Additionally, in line with its duty of care, the Scheme has taken decisive steps to relocate orientation camps in states such as Kebbi, Kaduna, Kwara, Borno, Gombe, and Plateau to safer locations, ensuring the protection of both Corps Members and camp officials,” it said.

Reaffirming its duty of care, the NYSC highlighted welfare provisions for corps members.

“The NYSC remains a responsible and responsive institution that places the highest premium on the welfare, safety, and well-being of Corps Members and staff.”

“In demonstration of this commitment, the Scheme has maintained a long-standing Memorandum of Understanding with Capital Express Assurance Limited since 2004, providing life insurance coverage for all Corps Members… Notably, this insurance coverage extends up to three weeks after the completion of service, in addition to their enrolment under the National Health Insurance Scheme,” it explained.

The NYSC faulted the publication for failing to seek its response before going public.

It warned that repeated misinformation could deepen fear and weaken trust in public institutions.

“The Scheme has been targeted on several occasions by purveyors of fake news and misinformation, making it imperative for the media and the general public to remain vigilant,” the statement warned.

Reaffirming its mandate, the NYSC said it remains committed to national unity and the safety of corps members.

Aprokorepublic

Former Kogi West senator, Dino Melaye, has expressed concern about Nigeria’s electricity sector, stressing that the country’s power problems are due to poor governance and not just technical issues.

In a statement he posted on X, Melaye said that even though Nigeria has been producing electricity for more than a century, the country still has low power output and often faces power outages.

“Nigeria has been generating electricity since 1896. That’s 130 years. Today, in March 2026, the national grid just dropped to 3,940 megawatts. For 220 million people,” he said.

He looked at how Nigeria did compared to other African countries and pointed out big differences, noting that South Africa produces more than 48,000 megawatts of electricity to power 60 million people.

“Egypt has around 11,000 MW installed capacity for 110 million. Nigeria? About 13,000MW installed. On a good day, we can only move about 4,000 to 5,000MW through the grid. The rest just sits there. Wasted,” he added.

Melaye also mentioned that there have been many instances of the power grid failing and difficulties with the infrastructure in the sector.

“The grid collapsed 12 times in 2024 alone. In the same year, 128 transmission towers were damaged by vandals,” he said.

He said the government used N8.8 billion just to fix them, while further citing data from the Nigerian Electricity Regulatory Commission (NERC), highlighting ongoing instability.

“From 2010 up until 2022, NERC noted at least 222 instances where parts of the power grid either partially or completely stopped working. He said that’s about one every three weeks for 12 years in a row. He said that bringing key power plants back online after a collapse is very expensive. Every time the power grid fails, it costs Nigeria around $25 million to restart just three power plants: Azura, Delta, and Shiroro. That’s N42.5 billion. Per collapse. For just three plants,” he said.

Melaye also pointed to mounting debts in the power sector. “As of February 2026, the power sector owes generation companies a total of N6.8 trillion. Growing by N200 billion every single month. By the end of March, it will reach N7 trillion.

“In 2023, 767 manufacturing companies shut down. 335 more became distressed. 18,000 jobs gone. In the first half of 2025, manufacturers spent N676.6 billion on backup power, but they still couldn’t cover all their needs. Another 18,935 jobs lost,” he said.

“The World Bank estimates economic losses caused by power outages. The World Bank says that power cuts in Nigeria cost the country about $29 billion each year. That’s about 10% of GDP. Every year,” he added.

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Justice Emeka Nwite of the Federal High Court in Abuja has ordered the final forfeiture of $13 million traced to businesswoman Aisha Achimugu and her company, Oceangate Engineering Oil & Gas Ltd, to the Federal Government of Nigeria.

In a ruling delivered on Wednesday, March 25, 2026, the judge held that the Economic and Financial Crimes Commission (EFCC) proved the funds were proceeds of unlawful activities.

He dismissed the company’s application to reclaim the money, describing its explanation as unsubstantiated.

The court rejected claims that the $13 million came from legitimate business earnings or personal gifts to Aisha Achimugu.

Justice Nwite noted that neither Achimugu nor any alleged donors appeared in court to testify.

“The burden to establish genuine ownership of the money was not discharged,” the judge ruled.

Backgroung

The case stemmed from EFCC investigations revealing that Oceangate allegedly used suspected illicit funds to acquire two oil blocks, deep offshore PPL 302 and shallow water PPL 3007 by paying signature bonuses.

While the company remitted about $20 million in total (including $7 million via Providus Bank), the EFCC traced $13 million as laundered through unlicensed bureau de change operators and intermediaries.

Part of the funds reportedly originated from diverted Lagos State Government contractor payments with no genuine business link to Oceangate.

In August 2025, Justice Nwite granted an interim forfeiture order and directed the EFCC to publish a notice inviting interested parties to show cause why the funds should not be permanently forfeited.

Oceangate, through director Iliya Wakil, argued the money was legitimate company earnings and gifts, but the court found these claims unsupported by evidence.

Significance

The final forfeiture is another win for the EFCC in recovering suspected proceeds of economic crimes in the oil and gas sector. The $13 million will now be permanently handed over to the Federal Government.

Aisha Achimugu, Group Chief Executive Officer of Oceangate and a prominent Lagos socialite, has not issued any public statement on the judgment as of press time.

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Instagram has introduced a new feature that lets users reorder photos and videos in carousel posts after publication, giving creators greater control over how their content is displayed.

The update was confirmed by Instagram’s Creators account on
Monday.

Users can now edit a carousel post by tapping the three-dot
menu, selecting Edit, long-pressing the photo or video they want to move,
dragging it to the desired position, and tapping Done to save the changes.

Photos and videos can be rearranged multiple times without
affecting likes, comments, shares, or other engagement metrics.

However, the feature is limited to newly uploaded carousel
posts. Older posts cannot be reordered, though users can still delete slides.

Adding new media to an existing carousel remains impossible,
requiring the creation of a new post.

The update is being rolled out gradually, and Instagram
users who do not see the option immediately are advised to update the app and
check back in the coming days.

According to Instagram, carousel posts typically generate
around 12% more engagement than single-image posts.

The ability to reorder media after publishing is expected to
help creators optimise their posts and maintain engagement without having to
start from scratch.

“This feature gives users the flexibility to ensure their
posts reflect their creative vision at any time.

“You can now keep the conversation going and your engagement
intact, without deleting and re-uploading content,” the Creators account said.

This change comes as Instagram continues to expand tools
aimed at helping content creators manage and optimise their presence on the
platform.

Aprokorepublic

The Independent Corrupt Practices and Other Related
Offences Commission (ICPC) on Tuesday arraigned former Kaduna State
Governor Nasir El-Rufai for alleged severance pay corruption and
years-long fraudulent dollar-denominated cash deposits in his bank account.

The commission arraigned him before the Federal High Court
in Kaduna on 10 charges, accusing him of violating Nigeria’s anti-money
laundering law.

He and his co-defendant, Joel Adoga, pleaded not guilty to
the charges.

Following the defendants’ pleas of not guilty, the trial
judge, Ridwan Aikawa, ordered their remand in the custody of ICPC, where Mr
El-Rufai had been held for over one month.

The charges involve alleged inflated severance payments of N579.7 million and years-long fraudulent deposits totalling $817,900 that Mr El-Rufai allegedly
received.

They both pleaded not guilty to the charges read to them
during the arraignment, which took place amid tight security on
Tuesday.

Here are all the 10 charges below.

Court: Federal High Court of Nigeria, Kaduna Judicial
Division

Charge number:t FHC/KD/73C/2026

Filed on 18 March 2026

Prosecution: Federal Republic of Nigeria (ICPC)

Defendants: Nasir Ahmed El-Rufai (M) and Joel Adoga (M)

COUNT 1

That you MALLAM NASIR AHMAD EL-RUFAI (M) sometime in
September 2020 or thereabout at Kaduna, within the jurisdiction of this
Honourable Court, while being a public officer as the elected Executive
Governor of Kaduna State, directly took possession of the sum of
N289,826,998.12 (Two Hundred and Eighty-Nine Million, Eight Hundred and
Twenty-Six Thousand, Nine Hundred and Ninety-Eight Naira, Twelve Kobo) as
severance allowance over and above your legitimately entitled sum of
N20,013,245.00 (Twenty Million, Thirteen Thousand, Two Hundred and Forty-Five
Naira) which represents 300% of your annual basic salary which you reasonably
ought to have known that such fund formed part of the proceeds of an unlawful
act, to wit: corruption and you thereby committed an offence contrary to
Section 18(2}(d) and punishable under Section 18(3) of the Money Laundering
(Prevention and Prohibition} Act, 2022.

COUNT 2

That you MALLAM NASIR AHMAD EL-RUFAI (M), sometime in
January 2023 or thereabout at Kaduna, within the jurisdiction of this
Honourable Court, while being a public officer as the elected Executive
Governor of Kaduna State, directly took possession of the sum of
N289,826,998.12 (Two Hundred and Eighty-Nine Million, Eight Hundred and
Twenty-Six Thousand, Nine Hundred and Ninety-Eight Naira, Twelve Kobo) as
severance allowance over and above your legitimately entitled sum of
N20,013,245.00 (Twenty Million, Thirteen Thousand, Two Hundred and Forty-Five
Naira) which represents 300% of your annual basic salary which you reasonably
ought to have known that such fund formed part of the proceeds of an unlawful
act, to wit: corruption and you thereby committed an offence contrary to
Section 18(2}(d) and punishable under Section 18(3) of the Money Laundering
(Prevention and Prohibition) Act.

COUNT 3

That you MALLAM NASIR AHMAD EL-RUFAI (M) sometime between
September 2017 and March 2023 or thereabout at Kaduna and Abuja respectively,
within the jurisdiction of this Honourable Court, while being a public officer
as the elected Executive Governor of Kaduna State, directly took control of the
total sum of $320,800 (Three Hundred and Twenty Thousand, Eight Hundred
Dollars) deposited into your Guaranty Trust Bank domiciliary account number:
0023824985 in different tranches by one Joel Adoga, when you reasonably ought
to have known that such funds formed part of the proceeds of an unlawful act,
to wit: corruption and fraud and you thereby committed an offence contrary to
Section 18(2}(d) and punishable under Section 18{3) of the Money Laundering
(Prevention and Prohibition) Act, 2022.

COUNT 4

That you MALLAM NASIR AHMAD EL-RUFAI (M) sometime in May
2022 or thereabout at Kaduna, within the jurisdiction of this Honourable Court,
while being a public officer as the elected Executive Governor of Kaduna State,
directly took possession of the sum of $155,800 (One Hundred and Fifty-Five
Thousand, Eight Hundred Dollars) deposited into your Guaranty Trust Bank
domiciliary account number: 0023824985 by one Peter Akagu Jones (now at large),
when you reasonably ought to have known that such fund formed part of the
proceeds of an unlawful act, to wit: corruption and fraud and you thereby
committed an offence contrary to Section 18(2}(d) and punishable under Section
18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.

COUNT 5

That you MALLAM NASIR AHMAD EL-RUFAI (M) sometime in May
2022 or thereabout at Kaduna, within the jurisdiction of this Honourable Court,
while being a public officer as the elected Executive Governor of Kaduna State,
directly took possession of the sum of $305,300 (Three Hundred and Five
Thousand, Three Hundred Dollars) deposited into your Guaranty Trust Bank
(domiciliary) account number: 0023824985 by one Ajayi Ayodele (now at large),
when you reasonably ought to have known that such fund formed part of the
proceeds of an unlawful act, to wit: corruption and fraud and you thereby
committed an offence contrary to Section 18(2)(d) and punishable under Section
18(3)of the Money Laundering (Prevention and Prohibition) Act, 2022.

COUNT 6

That you MALLAM NASIR AHMAD EL-RUFAI (M) sometime in April,
2016 or thereabout at Asokoro, Abuja, within the jurisdiction of this
Honourable Court, while being a public officer as the elected Executive
Governor of Kaduna State, directly took possession of the sum of $5,000.00
(Seven Thousand Dollars), deposited into your Guaranty Trust Bank domiciliary
account number: 0023824985 by one Umar Farouq (now at large) when you
reasonably ought to have known that such funds formed part of the proceeds of
an unlawful act, to wit: corruption and fraud and you thereby committed an
offence contrary to Section 18(2}{d) and punishable under Section 18(3) of the
Money Laundering (Prevention and Prohibition) Act, 2022.

COUNT 7

That you MALLAM NASIR AHMAD EL-RUFAI (M) sometime in June
2016 or thereabout at Asokoro, Abuja, within the jurisdiction of this
Honourable Court, while being a public officer as the elected Executive
Governor of Kaduna State, directly took possession of the sum of $5,000.00
(Five Thousand Dollars), deposited into your Guaranty Trust Bank domiciliary
account number: 0023824985 by one Umar Saleh (now at large) when you reasonably
ought to have known that such funds formed part of the proceeds of an unlawful
act, to wit: corruption and fraud and you thereby committed and offence
contrary to Section 18(2)(a) and punishable under Section 18(3) of the Money
Laundering (Prevention and Prohibition) Act, 2022.

COUNT 8

That you MALLAM NASIR AHMAD EL-RUFAI (M) sometime in
December 2016 or thereabout at Kaduna, within the jurisdiction of this
Honourable Court, while being a public officer as the elected Executive
Governor of Kaduna State. directly took possession of the sum of $4,000.00
(Four Thousand Dollars), deposited into your Guaranty Trust Bank domiciliary
account number: 0023824985 by one Umar Farouk Saleh (now at large) when you
reasonably ought to have known that such funds formed part of the proceeds of
an unlawful act, to wit: corruption and fraud and you thereby committed an
offence contrary to Section 18(2)(d) and punishable under Section 18(3) of the
Money Laundering (Prevention and Prohibition) Act, 2022.

COUNT 9

That you MALLAM NASIR AHMAD EL-RUFAI (M) sometime in October
2017 or thereabout at Kaduna, within the jurisdiction of this Honourable Court,
while being a public officer as the elected Executive Governor of Kaduna State,
directly took possession of the sum of $10,000.00 (Ten Thousand Dollars),
deposited into your Guaranty Trust Bank (domiciliary) account number:
0023824985 by one Umar Farouq (now at large) when you reasonably ought to have
known that such funds formed part of the proceeds of an unlawful act, to wit:
corruption and fraud and you thereby committed an offence contrary to Section
18(2)(d) and punishable under Section 18(3) of the Money Laundering (Prevention
and Prohibition) Act. 2022.

COUNT 10

That you MALLAM NASIR AHMAD EL-RUFAI (M), JOEL ADOGA (M)
sometime in July 2019 or thereabout at Wuse, Abuja within the – jurisdiction of
this Honourable Court, did conspire to disguise the origin of $10,000.00 (Ten
Thousand Dollars) which sum was deposited into the Guaranty Trust Bank
domiciliary account number: 0023824985 belonging to Mallam Nasir Ahmad
El-Rufai, when you reasonably ought to have known that such fund formed part of
the proceeds of an unlawful act, to wit: corruption and fraud and you thereby
committed an offence contrary to Sections 21 and 18(2){a}) and punishable under
Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.

Aprokorepublic

The All Indigenous Contractors Association of Nigeria (AICAN) has threatened to stage a protest at the All Progressives Congress (APC) national convention in Abuja if the federal government fails to release N150 billion owed to its members within 48 hours.

Jackson Nwosu, national president of AICAN, issued the warning on Tuesday in Abuja during a resumed protest by the association’s members over delayed payments for government contracts executed in 2024 and 2025.

“For AICAN members, the government has only paid N21 billion between this period in question; what is remaining to be paid is over N1 trillion, but what we are discussing as the immediate payment is N150 billion,” Nwosu said.“

Our immediate demand is for the payment to be made between now and the next two days.”Seun Babatunde, national secretary of AICAN, added that many members are facing severe hardship, with some even losing their lives due to the unpaid debts.“

“A lot of our members are dying as a result of the debt the federal government owes them,” Babatunde said, citing the case of a member who died of prostate cancer because he could not afford surgery after being owed over N100 million.

The contractors noted that while the 2026 appropriation bill allocated N1.7 trillion for verified contractors’ liabilities in 2024 and N100 billion for other local contractors’ debts, actual disbursements have been slow due to verification processes.

President Bola Tinubu had earlier directed government officials to prioritise payments to indigenous contractors, and the Ministry of Finance has been engaging with AICAN on the matter.

AICAN members have staged multiple protests in Abuja in recent months over the backlog, which they say is crippling their businesses, preventing loan repayments, and threatening project sustainability.

The group warned that failure to meet the 48-hour deadline could see them disrupt activities at the APC national convention scheduled for March 27 and 28 at Eagle Square in Abuja.

Aprokorepublic

Former Senate Leader Ali Ndume said Nigeria is at risk of
losing Borno and North East territorial sovereignty to terrorists.

This comes as Ndume urged the federal government to ensure
that the Nigerian Army is fully equipped to win the battle against insurgency
and banditry.

The senator representing Borno South made the call on
Tuesday.

Recall that in recent weeks, the Boko Haram sect, in
conjunction with the Islamic State–West Africa Province (ISWAP), carried out
coordinated attacks in the Ngoshe community in the Gwoza Local Government Area
of Borno State, killing some soldiers, the village head, and several community
elders, including a woman.

After visiting the affected Ngoshe and Pulka communities in
the company of the Borno State Government, Governor Professor Babagana Zulum,
and Ndume expressed grave concern over the insecurity situation in the region.

According to him, the military was initially overwhelmed by
the superior firepower of the terrorist groups.

He said, “I am calling on the federal government to double
its efforts in equipping the Army with sophisticated arms and ammunition.

“I gathered that our soldiers lacked adequate ammunition,
and they retreated from Ngoshe and Pulka because the terrorists overwhelmed
them. It was only days after reinforcements arrived that they regained control.
Nothing was left standing in Ngoshe and Pulka by the terrorists.

“I have visited Ngoshe; it isn’t something you can describe.
For someone who has seen it, the town has been brought down to ground zero.

“That’s what I witnessed. The destruction is complete. There
is nothing left standing except one small mosque. The people are resilient, the
governor is determined to rebuild Ngoshe, and there is an urgent need for
federal government intervention.

“I will talk with my colleagues at the National Assembly,
and we will collectively, in both Houses, move a motion. But before then, we
expect the federal government to intervene. This is necessary because the
people are still resilient. I have interacted with them, they are determined;
some even refused to go into the cities, wanting to return home. Since they
have that determination, the government must rebuild the place.

“I must commend the Nigerian Army for retaking Ngoshe. After
we returned, the Governor spent a night in Pulka, and I must commend him. I see
the psychological impact of that, and we want to thank him on behalf of my
people. It is something we will never forget,” he added.

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