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FarmCrowdy raises $1m to connect more farmers online, markets in Nigeria

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Barely twelve months after its launch, agro-Startup in Nigeria, Farmcrowdy has raised $1 million from investors including Techstars, Cox Ventures and Social Capital. Farmcrowdy’s digital platform connects investors to farmers through sponsorship packages to fund higher yields for a share of the returns. The app allows the sponsors to “Farm Shop” screened agricultural opportunities by produce type, funding amount, contract duration, and expected returns on an investment. The profiles include details on what the sponsorship funds―farm inputs, technical advice, or logistical support―to achieve yields. Common crops are cassava, soya beans, and rice. Investors can also use Farmcrowdy’s platform to track the performance of their sponsorships.

“What makes Farmcrowdy different from other platforms is it turns a complex problem into a digital marketplace,” Farmcrowdy CEO Onyeka Akumah said in a press release. “We’re taking care of funding for farmers, training for farmers, providing the market for the farmers to sell. We’re taking care of the logistics to move farm harvests to the market and making sure farmers earn a decent return at the end of their cycle,” he said. Farmcrowdy screens small scale farms throughout Nigeria and works with partners such as Syngenta and Africa’s International Institute of Tropical Agriculture to shape sponsorship packages to provide them expertise. A big problem, according to Akumah, is many of the farms do not have the inputs to reach the full harvest potential of their land plots.

Farmcrowdy’s revenue model operates on a split system for sponshorships: principal plus 40 percent for sponsors, 40 percent for farmers, and 20 percent for Farmcrowdy. For example, if an investor sponsored a maize farm for 6 months at $1000 and at harvest the produce sold for $1500, the sponsor would regain their investment ($1000) plus 40 percent of profits ($600), the farmer $600 (40 percent), and Farmcrowdy $300 (20 percent). Farmcrowdy will use its fresh funding to scale operations, expand into 20 Nigerian states, and bring more small-scale farmers and sponsors into its program. The startup participated in the accelerator class of one its investors, Techstars, in summer 2017. Techstars vetted Farmcrowdy’s model during a trip to Nigeria earlier in early 2017, Techstars mentor Cody Simms confirmed in an email.

Agriculture is yet another African sector in which tech companies are attempting to scale startups, apps, and solutions. MasterCard launched its 2KUZE agtech platform for smallplot farmers in Kenya, Uganda, and Tanzania in January. AgroCenta has developed digital logistics solutions for smallholder farmers in Ghana.Farmcrowdy CEO Onyeka Akumah sees the revenue potential for agriculture in Nigeria “as massive”, noting the country’s size and growth. “Nigeria has 186 million people and is projected to become the world’s third largest country in the next 30 years. All of these people are going to need food to eat,” he said.

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Update On How Bobrisky Is Treated In Prison – Top Official Discloses

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Top official of the Nigerian Correctional Service has given an update on how crossdresser, Bobrisky is being treated in prison.

Recall that Bobrisky was handed a six-month prison sentence over naira abuse. While sentencing him, Justice Abimbola Awogboro of the Federal High Court in Lagos, said the judgment would be a deterrent to others who are found abusing and mutilating the naira.

An official of the prison who spoke to Punch said the crossdresser was taken to prison after the judgement and he was examined at the point of admission. It was also stated that no realignment of gender or genital organ was discovered as his male biological features were the same.

The source told the publication;

“Bobrisky made a public declaration that he was a male and court proceedings are public records. Every inmate brought into a facility during admission is examined. He was equally examined and no realignment of gender or genital organ was discovered. The male biological features were the same.

“After that, a cell was allocated to him, and he had a certain number of inmates with him. A bed space was also allotted to him. It is just like a boarding house where your housemaster will issue you your personal belongings.

“When it is time for class, he attends. When it is time for food, he will go and get his portion. The same goes with prep and light out. He observes all these without preference. He has been going about his business just like other inmates since he was brought in here.

“He is not getting any five-star treatment and is not being protected from anybody. He follows the same rules and regulations just like every other inmate. Single cells of isolation cells are to prevent outbreaks of communicable diseases.

” In a male prison, homosexuality is outlawed and it is a grievous offence. Sodomy or homosexuality, is frowned upon here in the custodial centre. So any inmate that tries to violate him will face the law.”

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NIMC: Federal Government Of Nigeria To Issue New GMPC National Identity Card To Citizens Via Their Commercial Banks

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The National Identity Management Commission (NIMC) has said that commercial banks will issue a new national identity card to it’s users.

The commission stated that users applying for the card will do so using their NIN cards and the new card is enabled with multiple features, including payment and financial service, eliminating the need for multiple cards.

The federal government also provided an update on the issuance of new national ID card as Nigerians have been told to visit their banks and apply for the card.

“The card can be picked up by holders at the designated center or delivered to the applicants at the requested location at an extra cost to be borne by the applicants,” NIMC disclosed.

The National Identity Management Commission (NIMC) said the planned national identity card (ID card) will be issued to applicants by their banks.

It said applicants need to request their cards with their NIN “through the self-service online portal, NIMC offices, or their respective banks”.

According to NIMC, the multipurpose National ID card will also be enabled for the eNaira in compliance with the EMV operational and security standards.

National Identity Management Commission (NIMC) clarified its stance on the new national Identity card project, which is designed to promote financial inclusion and other social services.

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Governor Of Akwa Ibom Offers Automatic Employment To Abigail’s Elder Sister, Directs Renovation Of House And Promises Assistance To Undergraduate Sisters

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Tears, Agony As Governor Eno Of Akwa Ibom State Visits Family Of Late Nollywood Make-up Artist, Abigail.

The tragic occurrence of the death of Actor Junior Pope and 4 other crew members of which includes Abigail, Is still a huge shock to Nigerians.

Abigail and Precious were buried beside the river as culture demanded since their parents couldn’t pay for the necessary rituals to be done in order for their bodies to be sent home for proper burial.

The Governor had earlier on asked that the Body of the Makeup Artist be Exhumed and brought back home for proper Burial. He is seeing to it that the required sacrifices are carried out to enable them bring home her body to her Father’s House in Akwa Ibom State.

Governor’s Request for Abigail’s remains to be exhumed and brought home

The Governor also offered Automatic Employment To Abigail’s Elder Sister, Directs Renovation Of Family House, Promises Assistance To The Undergraduate Sisters.

Here are pictures from the Governor’s visit to the bereaved family.

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