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Venture Capital: El-Rufai announces return to private sector



Venture Capital: El-Rufai announces return to private sector

The immediate past governor of Kaduna State, Mallam Nasir El-Rufai, on Monday announced his return to the private sector with the launch of a venture capital firm, Afri-Venture Capital Company Limited.

The company, which is scheduled to start operations in January 2024, will have its office located in Abuja, Nigeria’s capital.

Announcing his return via his verified X (formerly Twitter) handle, El-Rufai said, “I can confirm that our VC-PE firm, Afri-Venture Capital Company Ltd will by the Grace of God, begin operations initially in Abuja in January 2024 with Jimi Lawal, Hafiz Bayero, Eyo Ekpo and Kabir Yabo as founding directors and initial shareholders.


“I am privileged to be the part-time Chairman of the Board. Please pray for our success and the Nigerian (and in the near future African) innovators and entrepreneurs we hope to finance, nurture, and mentor to be the Dangote Group of the future.”

The former Kaduna Governor had hid himself from public glare after his controversial ministerial screening on the floor of the Nigerian Senate, where his nomination as minister was rejected by members of the 10th Senate.

El-Rufai had enjoyed a glowing public service career from his time as Director of the Bureau of Public Enterprises and Minister of FCT respectively, under former president Olusegun Obasanjo and most recently a two-term governor of Kaduna State.

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