News
NDITDA Bill Must Not Destroy the New Oil Well, Tech
By Joel Popoola
In tech terms, 2007 was a thousand years ago.
YouTube was a little over a year old. Instagram and Snapchat didn’t exist. TikTok wouldn’t go international for another decade.
That’s why it’s only sensible that we update out technology laws to reflect the Nigeria we live in now.
But this regulatory refresh must not come at the expense of our economic future.
This week has brought news that the National Information Technology Development Agency is apparently seeking to extend powers granted in 2007 to provide the Nigerian tech sector with advisory guidelines to a fully-fledged regulator with the powers to determine which businesses are allowed to operate.
Under the proposals, companies would also have to pay a 1% levy on their profits to NITDA. Companies failing to comply with the rules would risk jail time or minimum fines of 30 million naira.
In the aftermath of the government’s banning of both cryptocurrency and Twitter, insiders fear the move may have the effect of hindering innovation in Africa’s fastest growing tech ecosystem.
This must not be allowed to happen.
Tech is a sector which has defied the stagnant economy which has defined Nigeria in recent years. The internationally-renowned Financial Times recently branded Nigeria “Africa’s hottest start-up scene”. Of every five dollars invested in venture capital funding in Africa in 2020, one dollar went to Nigeria. In Flutterswitch and Intersave our nation is home to two of Africa’s four unicorns- companies valued at over $1billion. Investors poured $1.6billion into the Nigerian tech scene between 2016 and 2020.
It is this reason why tech’s role in the Nigerian economy has been called “the new oil”. And as the world adapts to a post-oil future, it’s something which is only going to become more and more critical. We must not intentionally destroy the new oil’s well.
As the Financial Times writes, the Nigerian government’s “byzantine structure, endemic corruption and penchant for free speech crackdowns” already inhibits innovation and discourages investment. Heavy handed regulation will only encourage investors and businesses to look elsewhere.
Fintech – digital banking – is one of the most significant divers of the Nigerian tech boom, and in a nation where 60 million people do not have a bank account and where 96% of transactions still take place using cash, the sector is only going to expand – democratising money as it does. No-one is seriously suggesting this area should be an unregulated free-for-all. Consumers need to know that they are investing in a reputable and regulated organisation and not a digital pyramid scheme.
Regulation which supports instead of strangling innovation is the key to prosperity. But the Nigerian tech sector has all-too-often found both the NDITA and other governmental bodies remote, inaccessible and even antagonistic.
This approach is symptomatic and symbolic of the digital divide between decision makers and ordinary Nigerians.
At the digital democracy campaign I lead we are trying to bridge that divide with technology.
We have developed a free app called Rate Your Leader to help elected officials better engage with both technology and the people who elect them.
The app allows direct person-to-person communication between verified voters and confirmed local leaders. As a result, Rate Your Leader allows the rapid raising of issues and concerns and the sharing of information, allowing communities to collaborate to make local areas better and helping politicians understand what matters most to the people who elect them. Rate Your Leader’s abuse-proof technology ensures that this communication is always courteous and civil.
Rate Your Leader also lets local people rate politicians for accessibility, transparency and honesty – building trust in both politicians and political institutions.
The Nigerian tech sector is alarmed by the prospect of a bill which seems to give a single agency the power to decide which businesses can operate and which technologies can come to market, and baffled with a bill which seems to entirely contradict the Nigerian Startup Bill, a tech industry–led initiative much better targeted at delivering a more startup-friendly business environment.
As with so many aspects of the Nigerian political landscape, the key to overcoming these concerns is better engagement – engagement that new technology ironically makes it a lot easier to facilitate.
If we are to safeguard a more prosperous future, it is engagement which must take place at the earliest opportunity – and at Rate Your Leader, we are willing to support that engagement in any way we can.
Joel Popoola is a Nigerian tech entrepreneur, digital democracy campaigner and founder of the Rate Your Leader app. He can be reached via @JOPopoola
Operatives of the Economic and Financial Crimes Commission have arrested a former chairman of defunct Skye Bank Plc, Tunde Ayeni, over alleged money laundering, misappropriation and diversion of funds amounting to N36.54bn and $30m.
Ayeni, a businessman, was arrested in Abuja on Thursday, and is currently being held at the commission’s facility.
The arrest followed an EFCC probe into alleged misappropriation and diversion of funds said to have been obtained from Polaris Bank through multiple entities linked to him.
“Operatives of the Economic and Financial Crimes Commission, EFCC, have arrested a former board chairman of defunct Skye Bank Plc and businessman, Tunde Ayeni, in connection with alleged money laundering, misappropriation and diversion of funds to the tune of N36,540,058,400.00 and $30m.
“Ayeni was arrested sequel to the investigation of the EFCC into alleged misappropriation and diversion of funds to the tune of N36,540,058,400.00 and $30m obtained from Polaris Bank Plc by different entities linked to him.
“The funds were loans obtained allegedly for specific investment projects but subsequently transferred to other entities’ accounts. Investigations showed that, though the loans were obtained for purposes such as finance of marine security activities, electricity distribution contract, estate development, they were diverted to the NITEL/MTEL asset acquisition through NATCOM account,” one of the sources said.
Another source said the commission is currently probing 12 companies allegedly linked to Ayeni, which it said were used to obtain the loans from Polaris Bank.
“Twelve different companies linked to Ayeni are being investigated by the EFCC. They are entities he allegedly used to obtain loans from Polaris Bank for his shady activities. The loans are depositors’ funds fraudulently obtained and frittered into diverse wasteful purposes. Ayeni will be arraigned in due course upon conclusion of investigations,” the source said.
When contacted, EFCC spokesman Dele Oyewale confirmed the arrest but declined to give further details.
The Punch
By Henry Ukazu
Dear Destiny Friends,
To be fruitful is to be productive, profitable, and successful in all areas of your life. When one is fruitful, he will attract many opportunities and values. When we are fruitful, we won’t be barren because we will be producing fruits and results with our work. Even the book of life said no woman will be barren in your land. That’s being fruitful.
Fruitfulness permeates every area of our life. When you are fruitful, your life, marriage, business, academic, ethics, relationship/network will flourish. Our business must be fruitful to survive, otherwise it will be out of business. We shall discuss several areas where one can be fruitful.
Parents
The joy of every father is for the child to be greater than him. Any father that wants to be greater than his son is not a good father in my understanding. Parents, mentors, government, teachers, leaders of faith, etc. all want us to be fruitful.
Let’s take a case study of parents. They sacrifice their time, resources and health just to give us a decent life. They do it because they want us to be successful in life.
Personally, I watched my late father and mother deprive themselves of the luxury of life just to give me and my siblings a decent life. My late parents never had the opportunity of having a decent education, it won’t be out of place for one to say they are unlettered, but they knew the value of education.
My late dad will always say, he’s not concerned about building houses, or living a luxury lifestyle, to him, those are secondary needs of life. His primary concern is for his children to have a good education. My late dad will always say assuming he’s educated, he would have excelled higher in life.
My late mother is not an exemption. I vividly remember one day my late mother said to me, her colleagues are buying jewelry, shoes, clothes, making their hair, etc. to fit into trends, but she’s not concerned about that, her major concern is for her children to have a decent education and look good.
Most people don’t understand the inspiration behind why I do what I do today. My late parents were and remained my biggest supporter. Apart from going to heaven, my greatest goal is to make my late parents and children proud. The moral of this analysis is my late parents sacrificed even their life for me and siblings just because they want us to be successful and fruitful.
Mentors
Mentors are not left out of this equation; mentors can be regarded as gatekeepers because they have paid the price of success. It is the fruitfulness of mentors that attracts values and mentees to them. When a mentor accepts a mentee into his fold, he’s simply telling the mentee, “I want you to be successful, I don’t want you to fail. However, it is important to state that before a mentor can accept to mentor a mentee, the mentor would have seen some potential in the mentees.
It’s instructive to mention that there are five types of mentors namely:
- Position Mentor: People follow you because they have a right to follow you which can be because of the position you occupy.
- Permission Mentor: People follow you because you allow them. For example, in relationships when you decide to allow people to build relationships with you.
- Production Mentor: People follow you because of what you have done for the organization or association. This is result oriented.
- People Development Mentor: People follow you because of what you have done for them.
- Pinnacle Mentor: People follow you because of who you are or what you represent. The question now is where do you belong?
For the umpteenth time, I am a product of mentorship. My mentors have really shaped my life.
Teachers
Teachers are not left out. Teachers are generally regarded as professional educators who play a critical role in fostering student achievement, personal growth, and social development. They are seen as the “lifeblood” of the education system, often serving as mentors, role models, and agents of social change.
There are many components of teachers namely:
- Professional Experts: Teachers are trained specialists in pedagogy (the art/science of teaching) and subject matter, holding degrees and certifications that qualify them to guide learners.
- Facilitators and Mentors: Beyond delivering content, they act as guides who help students acquire critical thinking skills and knowledge, shifting from “information dispensers” to active facilitators.
- Lifelong Learners: Effective teachers are viewed as individuals who continuously learn and adapt their practices to new technologies, curricula, and student needs.
- Moral and Cultural Guides: Teachers are often expected to act as stewards of community values, maintaining student safety, and cultivating civic responsibility.
- “Backbone of Society”: They are considered crucial to a nation’s social and economic development by preparing the future workforce. Above all, they assist in making us fruitful human beings.
Leaders of faith
The leaders of faith are regarded as the molders of the human faith because they help to build our faith. When the scripture says in Genesis 1:8, be fruitful and multiply, the scripture is also referring to them because they are regarded as shepherds. As Christians, we expected to be fruitful because our heavenly father is fruitful. Being fruitful here entails bearing fruits with our life and this entails using our life to attract people into the kingdom of God as evidence of our heavenly father who expects us to be Christlike.
Government
Let’s talk about the government. When a government is fruitful, it will reflect on the lives of her citizens, but when the government is performing below expectations, the citizens will be on the receiving end. The principal responsibility of the government is protection of life and security for her citizens. Every other thing is secondary. The government is also responsible for creating job opportunities for the citizens. However, it should be noted the government cannot create for all her citizens, and as such they provide an enabling environment for the private sector to thrive.
Employers/Supervisors/Leaders
These sets of people are regarded as people of influence. You need them at your corner, if you intend to move higher in life. Your employers and supervisors are regarded as your leaders. You can never outsmart them; the best one can try is to be in their good books and tolerate their excesses. When an employee is fruitful and exceeding expectations at work, they tend to be rewarded by their supervisors or employers because of the value they create and the problem they solve
In conclusion, whatever you do in life, please try and be fruitful.
Henry Ukazu writes from New York. He works with the New York City Department of Correction as the Legal Coordinator. He’s the founder of Gloemi. He’s a Transformative Human Capacity and Mindset coach. He is also a public speaker, youth advocate, creative writer and author of Design Your Destiny Design and Unleash Your Destiny . He can be reached via info@gloemi.com
Justice Darius Khobo of the Kaduna State High Court has adjourned the bail hearing of former Governor of Kaduna State, Mallam Nasir El-Rufai, to the first week of June, 2026.
El-Rufai is being arraigned on multiple charges bordering on alleged financial crime and abuse of office by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
“Similarly, another charge, number KDH/KAD/ICPC/01/26, against Mallam Nasir El-Rufa’i and one Amadu Sule (LEDA) has also been filed before a Kaduna State High Court in the Kaduna Judicial Division,” the ICPC said last month.
“The charges in the State High Court case range from abuse of office, fraud, and intent to commit fraud to conferring undue advantage, among others. Both charges were filed by the ICPC on the 18th of March, 2026.”
Speaking after the court session, counsel to the former governor, Ukpon Akpan, kicked against the lingering adjournment of the bail hearing by one presiding judge as politically motivated.
The high-profile case has drawn significant public attention, with heightened security presence observed around the court premises.
The former governor had arrived at the court at about 9 am in a convoy accompanied by ICPC officials and operatives of the Department of State Services (DSS).
During the proceedings, supporters of the former governor gathered outside the courtroom, while security agencies maintained order and restricted movement within the vicinity.
Inside the courtroom, journalists, as usual, were not allowed, as proceedings are expected to focus on arguments presented by both the defence and prosecution regarding the bail request.
At the last sitting, the defence team had maintained that their client poses no flight risk and is willing to comply with all conditions set by the court.
Meanwhile, the prosecution has urged the court to carefully consider the gravity of the charges.
The 66-year-old former governor of Kaduna has been in ICPC custody since February 19 following his release by the Economic and Financial Crimes Commission (EFCC).
El-Rufai, a former minister of the FCT, was, however, released on March 27 based on compassionate grounds following his mother’s death
