Federal Government Launches $50 Million Wholesale Impact Investment Fund to Boost Inclusive Growth

The Federal Government has launched the Nigeria Wholesale Impact Investment Fund (WIIF) with an anchor investment of $50 million—marking the first phase of a planned $100 million capital base. This fund is part of President Bola Ahmed Tinubu’s Renewed Hope Agenda to drive 7% annual economic growth.

The WIIF is a “fund of funds” designed to channel large-scale capital into development finance institutions, microfinance banks, and impact-focused fund managers. These institutions will, in turn, finance businesses and projects that generate measurable economic and social impact, particularly in agriculture, infrastructure, digital innovation, and youth entrepreneurship.

At the launch meeting in Abuja, Finance Minister Wale Edun emphasized that this initiative represents a firm public-private partnership to deliver inclusive growth and job creation. The fund will also align with the AfDB-supported Youth Entrepreneurship Bank and use tools like government-backed guarantees to attract private capital.

WIIF will serve as a scalable vehicle to support underserved markets, unlock MSME financing, and power Nigeria’s transition to a resilient and innovation-led economy.

— Kamorudeen Yusuf
Personal Assistant on Special Duties to the President

Credit: TVC NEWS Nigeria

Governor Alex Otti speaks on President Tinubu economic policies after yesterday's late night meeting with Senator Uzor Kalu (APC)
“When you talk about supporting President Tinubu, the President and I are very good friends and our friendship predates party politics and current positions; we agree on so many issues, and as it is natural, we know where we disagree. But, when you talk about the economy, what Mr. President is doing has always been my position for a long time,” the Governor asserted, urging people to go back and read his columns at the back of Thisday Newspaper, some years back, especially during the Covid-19, where he said that it was time to remove fuel subsidy when off-takers were rejecting crude shipped to them, saying that they have no need for it.
“So, it requires somebody with courage to remove that subsidy and I am in support of it. We have behaved in an irresponsible manner for a very long time. And, when you have years of irresponsible behavior, the correction would be tough, difficult, and painful. It is the correction that we are going through now; if we don’t lose faith, we will eventually get it right.
“So, talking about supporting the President, it’s a no-brainer; I will continue to support him because it is the same administration.”
Credit: TVC NEWS Nigeria

BREAKING: Social Media Activist, VeryDarkMan, Grilled By EFCC For Hours Over Source Of Income, Mercy Chinwo Suit, Others

The Economic and Financial Crimes Commission (EFCC) on Monday interrogated social media activist Martins Vincent Otse, popularly known as VeryDarkMan (VDM), over multiple petitions filed against him.

The questioning reportedly covered his source of income, how he generates content, and the basis for the claims he makes on his platforms.

SaharaReporters also learned that VDM was questioned about his allegations against gospel singer Mercy Chinwo.

Chinwo had earlier sued the activist for defamation and criminal defamation, accusing him of falsely claiming she diverted $345,000 from her former manager, Ezekiel Onyedikachukwu.

As part of her legal action, Chinwo is demanding N1 billion in general damages, N100 million in punitive and aggravated damages, N25 million for legal costs, and a 10 percent annual interest on the judgment sum until full payment is made.

She is also seeking a public apology from VDM to be published in national newspapers for 14 consecutive days.

A source familiar with the interrogation told SaharaReporters, “VDM was asked a series of questions, including how he makes his money, the source of his income, how he creates his content, and how he obtains the information he shares on his show. He was also questioned about Mercy Chinwo.”

As earlier reported by SaharaReporters, EFCC officials grilled VeryDarkMan for several hours at the agency’s headquarters in Abuja in relation to the petitions.

According to sources, the questioning took place at the EFCC headquarters in Abuja and was conducted in the presence of his legal representatives, Deji Adeyanju and Marvin Omorogbe.

Sources disclosed that the interrogation began around 2:30 p.m.

Earlier, the EFCC had confirmed VeryDarkMan’s arrest following the receipt of several petitions.

The EFCC, speaking through its spokesperson Dele Oyewale, told BBC News Pidgin on Monday that the activist was taken into custody following complaints from several petitioners.

"We arrested him to respond to a series of allegations raised against him by some petitioners," Oyewale said.

When asked if the case was connected to petition from Guaranty Trust Bank (GT, Oyewale noted that the petitions were from different individuals and the agency owed them a duty of protection.

Oyewale added that the commission was planning to arraign the social media activist.

He stated, "We will release him when he meets the bail conditions and we will take the case to court as soon as possible; we are law-abiding."

Credit: TVC NEWS

Di Nigeria Police Force don tok say dem go begin take di issue of tinted car glass seriously.

Na CP Olatunji Disu wey be di FCT commissioner of police yarn dis one, wia e also address mata of kidnapping.

CP Disu say plenti of di victims wey dem don rescue confam say tinted glass no dey allow pipo know say dem dey for gbege.

According to di police, tinted glass dey contribute to di lawlessness wey dey happun and dem go begin clampdown on anyone wey dey use am.

CP disu say nobody get di right to even dey tint dia glass.

Credit: BBC News Pidgin Facebook

Charles Barkley Takes on Christmas Celebration.
Agree or Disagree? You comment Please.