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Emerging Africa to raise N250bn capital for infrastructure development in Northern Nigeria
Emerging Africa to raise N250bn capital for infrastructure development in Northern Nigeria
By: Michael Mike
African investment banking franchise, Emerging Africa Group (EAG) said it will be raising a minimum of N250 billion capital to finance infrastructure development and Micro, Small and Medium Enterprises (MSMEs) in Northern Nigeria in the next two years.
The Executive Vice Chair of the Company, Mrs. Oluwatoyin Sanni disclosed this at the Opening of the new Abuja Office Complex of EAG which will oversee the operation of the investment bank in the entire Northern Nigeria.
Sanni said the North requires huge financing especially in infrastructure in order to speed up development in the region.
She said: “There can’t be development or growth without adequate infrastructure, so what we aim to do is to help them raise funds (North) for infrastructure development. As we speak, we have gone on four different exercises to raise funds for road development in Niger state.”
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She added that: “So first of all, we offer Northern states opportunity to raise funds from the capital market, by private bonds and notes for all their different infrastructure needs. We are also involved in raising funds for some state-backed initiatives. We also provide Micro and SME finance for these small businesses that ordinarily struggle to raise capital and we have many of them both in the North and the rest of Nigeria and Africa.”
Sanni disclosed that Emerging Africa had set out a target to raise up to $1 billion over a five-year period for businesses in Nigeria and the rest of Africa when it started business, but said the company successfully met the target three and half years into the plan.
The Executive vice Chair said this encourage the Group to set a fresh target to raise $4 billion over the next five years for businesses in Africa.
On how the Group raises capital, she explained, “When we target to raise this capital, what we do is that we match-make between the surplus segment of the economy and the deficit segment. We look for partners, local banks, international banks, and development finance institutions, similar investment banks like us, institutional investors and wealthy families. We crowd them all in, to invest in segments and sectors that we think can have a catalytic effect for the development of the economy.”
On the infrastructure funding for development of roads in Niger state, Sanni said the Group did a final signing ceremony for a private bond that it raised, to the tune of N13.2 billion.
She disclosed that the funding was raised for a private infrastructure funding company that would then deploy the money to the development of projects within the state.
She said: “That way we bring private sector accountability, private sector transparency and unique funding structure. Niger state is a partner and a beneficiary to that funding.”
The Executive Vice Chairman said the Group decided to open a more befitting office in Abuja to provide investment management, wealth management, trust services, capacity building, financial technology solutions to develop Abuja and the entire North.
She said: “We are bringing funding access, investment management capability, recent technical skills; we are bringing transparency and quality investment management services to Abuja and to the entire North.”
Emerging Africa to raise N250bn capital for infrastructure development in Northern Nigeria
Bauchi Polytechnic students protest after 20 armed robbers raid campus hostel
By: Zagazola Makama
Armed robbers on Monday at about 4am invaded male students’ hostels at the Federal Polytechnic Bauchi, dispossessing occupants of mobile phones and valuables, and stabbing two students in the process.
The attack, which took place in the early hours of Monday, occurred within the Gwalameji campus of the institution, located about four kilometres from the city centre.
Eyewitnesses told Zagazola Makama that the robbers, numbering between 15 and 20, broke into several hostel rooms and threatened students with weapons, including knives.
“They moved from room to room, collecting phones, laptops and money. Two students who resisted were stabbed before the attackers fled,” said a student who requested anonymity for security reasons.
Zagazola gathered that the incident sparked outrage among students, who later blocked the Bauchi–Dass highway near the school gate to protest what they described as recurring security lapses on campus.
The protest was dispersed by security operatives using teargas, while the institution’s management promptly suspended academic activities and ordered students to vacate the campus within two hours.
Troops of the 33 Artillery Brigade, police, and Nigeria Security and Civil Defence Corps (NSCDC) personnel were deployed to restore order.
Bauchi State Commissioner of Police, who visited the campus, addressed the students and assured them that efforts were underway to apprehend the perpetrators and strengthen campus security.
A security source told Zagazola that the targeted attack on male hostels point to the gaps in intelligence and emergency response, particularly given the proximity of the school to the state capital.
“The robbers operated for some time without interruption, which suggests that security patrols and outposts in the area need to be more proactive, especially since Gwalameji has a history of criminal incidents,” the source said.
The students, citing lack of security personnel, poor medical facilities and other welfare issues, staged a protest after being addressed by school officials.
Following a tip-off later in the day, police arrested three suspects, Mansur Yakubu, also known as Chasu; Abbas Auwal, 20; and Musa Bala, 20, alias Babannani all of Lushi area, Bauchi.
The suspects confessed to the crime and named their accomplices, identified as Kalifa Danboda of Birshin Gandu, and others known as Dady, Soja, Baki, and Sunusi, alias “Ba Su Aikin Allah,” who are currently at large.
Authorities says efforts are intensified to apprehend the remaining suspects.
Bauchi Polytechnic students protest after 20 armed robbers raid campus hostel
Massive Bandit Attack in Kwara Police station, Leaves Police ASP Dead, Market Looted
By: Zagazola Makama
Armed bandits numbering about 200 stormed Babanla town in Kwara state on motorbikes at around 1:00 p.m. on Friday, killing a police officer and looting a local market.
Zagazola Makama gathered that the assailants, who fired sporadically, attacked the Babanla Police Station, where ASP Adejumo Wasiu attached to the ACPOL Offa was shot dead. His AK-47 rifle was taken by the attackers.
Sources said that the station was ransacked, though no additional arms were lost, as all other weapons were on charge at the time.
After the assault on the police facility, the gunmen moved to the town’s market, seizing large quantities of foodstuffs.
A joint force comprising military, police, vigilantes, and local hunters mobilized swiftly, repelling the attack and restoring order.
The number of civilian casualties remains unknown as at the time of filling this report
Massive Bandit Attack in Kwara Police station, Leaves Police ASP Dead, Market Looted
Eight Suspects Escape from Police Custody in Gona in Bauchi One Rearrested
By: Zagazola Makama
Police in Gona in Bauchi state are on a manhunt after eight suspects in custody for various offences escaped from their cell in the early hours of August 8, 2025.
Sources told Zagazola Makama that the incident occurred at about 12:20 a.m. on Saturday when the detainees broke out of their cell and forcefully opened the nearby exit door before fleeing to an unknown destination.
It was gathered that a rapid response patrol and divisional surveillance teams were deployed immediately. One of the escapees, identified as Abdullahi Haliru, has since been rearrested.
The sources said that authorities have circulated alerts to aid in the capture of the remaining fugitives
Eight Suspects Escape from Police Custody in Gona in Bauchi One Rearrested
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