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NGX Shareholders Commend Leadership at 65th AGM, Seeks Continued Growth

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Shareholders of Nigerian Exchange Group Plc (NGX Group) have commended the Board and Management for the Group’s performance and strategic direction, urging continued focus on growth and long-term value creation.

At the Group’s 65th Annual General Meeting (AGM), shareholders approved the audited financial statements for the year ended 31 December 2025, alongside key resolutions including a final dividend of ₦2.00 per share, a one-for-three bonus share issue, and the corresponding increase in share capital. The re-election of Dr. Umaru Kwairanga, Group Chairman, Board of Directors, Dr. Okechukwu Itanyi, Independent Non-Executive Director and Mrs. Ojinika Olaghere, Independent Non-Executive Director reinforced continuity in governance and oversight.

Shareholders acknowledged the Group’s disciplined execution and its role in strengthening the Nigerian capital market, noting that recent developments reflect a more structured and better-regulated market environment.

Speaking during the meeting, the President, New Dimension Shareholders Association, Patrick Ajudua, commended the leadership of the Group for delivering a strong financial outcome, noting that the results reflect both improved market conditions and deliberate strategic execution. “The numbers speak to a business that is gaining strength and direction,” he said.

Similarly, the Chairman of the Progressive Shareholders Association of Nigeria, Boniface Okezie, lauded the Group’s commitment to innovation and infrastructure development. “The market is becoming more forward-looking, supported by strong leadership at the Group level. Initiatives around market infrastructure and participation are yielding results, and this is positive for investors,” he noted.

Commenting during the AGM, Chairman of NGX Group, Umaru Kwairanga, appreciated shareholders for their continued support and reaffirmed the Board’s commitment to sustainable value delivery. He said, “The progress recorded reflects the strength of the Group’s strategy and the performance of its operating businesses. As a Board, our responsibility is to ensure disciplined oversight, uphold strong governance standards, and position NGX Group to deliver sustainable, long-term value to shareholders.”

Temi Popoola, group managing director/chief executive officer, focused on execution priorities, noting that the Group is positioning for scale.

He said: “This next phase is about deepening momentum. Our priority is to scale infrastructure, broaden participation, and unlock new pathways for capital formation.”

The meeting reflected strong shareholder confidence in NGX Group’s leadership, with the Group reaffirming its commitment to playing a central role in the evolution of Nigeria’s capital market while delivering sustained returns to investors.

 

 

Sovereign Trust Insurance Set for Market Leadership via N5bn Rights Issue

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Sovereign Trust Insurance Plc has completed the structuring phase of its planned N5 billion Rights Issue capital raise marking a key milestone ahead of its recapitalisation plan in line with the Nigerian Insurance Industry Recapitalisation Act, NIIRA.

The Underwriting Firm disclosed this at the signing ceremony of all related parties to the Rights Issue at its Corporate Head Office in Victoria Island, Lagos. The signing ceremony signals the effective conclusion of all internal processes and professional engagements required for the Rights Issue.

With the structuring phase now concluded, the shareholders of Sovereign Trust Insurance Plc will have the opportunity to pick up their rights totaling 2,510,848,144 units, (two billion, five hundred and ten million, eight hundred and forty-eight thousand, one hundred and forty-four units) ordinary shares of 50 kobo each at N2.00 per share on the basis of 3 new ordinary shares.

In the same vein, the Management has enjoined all Shareholders of the company to take advantage of this unique opportunity by maximally taking up their rights in the Rights Issue with a view to increasing their stake in the company and as well grow their wealth in the very near future as the company is poised to moving on to the next phase of its growth stage as NIIRA signals a new direction for the insurance industry in the country.

Dr. Lucas Durojaiye, Managing Director/Chief Executive Officer of Sovereign Trust Insurance Plc, said the Management of the company has set a growth agenda which is aimed at positioning the underwriting firm as one of the top five in the insurance industry in Nigeria. The Managing Director’s appeal to Shareholders of the company was unequivocal.

“In achieving this aspiration, we have identified that a very robust capital base is critical to the success of the set agenda; hence the need to call on our Shareholders to fully exercise their rights by subscribing fully to the Rights Issue and ultimately grow their investments in the company.”

He said Sovereign Trust Insurance Plc is working assiduously towards being one of the most preferred Insurance companies in the country for people to do business with, invest in as well as be the choice Employer of Labour in the years ahead.

All Set for Ecobank 2026 National Schools’ Team Chess Championship

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L–R: Austen Osokpor, Head, Marketing and Corporate Communications, Ecobank Nigeria; Daniel Taiwo, Leader, Platform School Chess Team and winners of the 2025 edition; Prince Adeyinka Adewole, Vice President, Nigeria Chess Federation; and Ambesh Kumar, Head of Marketing, SchoolMate Nigeria, at the press conference announcing the Ecobank National Schools’ Team Chess Championship 2026 in Lagos.

All arrangements have been concluded for the 2026 Ecobank National Schools’ Team Chess Championship, organised in partnership with the Nigeria Chess Federation (NCF) and SchoolMate.

The championship will hold from 7–8 May 2026 at the Ecobank Pan African Centre (EPAC), Lagos, and is expected to feature about 1,500 pupils and students from 300 schools nationwide.

Speaking ahead of the third edition of the tournament, Ecobank’s Segment Head for Education, Faith and Social Services, Adekunle Adewuyi, said the bank remains committed to scaling the championship as a pathway for developing Nigeria’s next generation of intellectual and strategic leaders.

According to him, the championship has evolved into a strong national platform for nurturing talent and promoting critical thinking among young Nigerians.

“This championship has become a leading national platform for identifying and nurturing emerging chess talents. Chess is a powerful educational tool; it sharpens critical thinking, problem-solving and discipline. Through this initiative, we are preparing young Nigerians not just for competition, but for leadership roles in the future,” Adewuyi said.

He described the tournament as a rapidly growing, award-winning scholastic competition that attracts thousands of students annually and promotes intellectual development while fostering future chess grandmasters.

Reflecting on previous editions, Adewuyi noted the significant growth in participation: “Last year’s edition recorded massive growth, with over 2,500 students from 450 schools participating. We are confident this year’s edition will surpass that milestone.”

Also speaking, Vice President of the Nigeria Chess Federation, Prince Adeyinka Adewole Samuel, said the championship aligns with global standards set by the International Chess Federation (FIDE), which encourages countries to organise structured school-level competitions.

According to him, the tournament targets primary and secondary school students aged 7–18, as part of a deliberate strategy to build a sustainable pipeline of future grandmasters.

Prince Adeyinka disclosed that about 150 primary schools and 150 secondary schools are expected to participate this year, with each school fielding five players, bringing the total number of participants to approximately 1,500 students from about 15 states. He added that the competition will feature a ₦20 million prize pool.

He also revealed that enhanced measures have been introduced to improve event delivery, including strict player eligibility checks, enhanced crowd control, and the deployment of 50 trained arbiters to guarantee fairness and transparency.

Highlighting the impact of the initiative, Prince Adeyinka noted that Nigerian students who emerged from the Ecobank championship have excelled at continental competitions.

“The growth has been phenomenal. When Nigeria competes at continental tournaments, many of the standout players are alumni of the Ecobank championship. We won a gold medal last year in Uganda, and that success is strongly linked to what Ecobank has done,” he said.

On his part, Marketing Head of SchoolMate Nigeria, Ambesh Kumar, said the company partnered with the initiative to support youth development through education and sport, noting that chess helps children build discipline, focus and strategic thinking.

“We are passionate about quality education for children, and we see this tournament as a veritable means of advancing that cause. Last year, we distributed books to the children, and this year marks our first involvement as a co-sponsor. SchoolMate has operated in Nigeria for several years, and we see this chess championship as a meaningful way of giving back to society,” Kumar stated.

The Ecobank National Schools’ Team Chess Championship continues to grow as a nationwide platform for discovering young talents while equipping students with confidence, teamwork, leadership and strategic skills essential for future success.

Guinea Insurance Signals Recovery Momentum Amid Elevated Claims

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Guinea Insurance Plc has announced its unaudited financial results for the period ended 31 March 2026, reflecting a resilient top line performance, a strengthened asset base, and a deliberate strategic response to industry wide claims pressure.

Net Expenses on Reinsurance Contracts stood at ₦109.3 million, representing a decline of approximately 162.6% from ₦174.7 million recorded in March 2025. This movement reflects a more conservative risk transfer approach, as the Company strengthened its reinsurance cover to mitigate exposure to emerging risks and high value claims within the market.

Insurance Service Expenses rose significantly by about 803% to ₦850.1 million, compared to ₦94.1 million in March 2025. This sharp increase was largely driven by the settlement of a cluster of high value industry claims, which the Company honoured promptly and responsibly. These claims, arising from unforeseen risk events, placed considerable pressure on earnings, affecting both top line efficiency and bottom-line performance, and resulting in a loss for the period. Total Assets grew by 6.9 per cent to ₦7.75 billion, supported by strong investment performance. Investment Properties increased by 29.5 per cent to ₦1.11 billion, driven by favourable revaluations and portfolio optimisation.

Ademola Abidogun, Managing Director/Chief Executive Officer, Guinea Insurance PLC commented: “While the period under review reflects a temporary setback in profitability, it is important to emphasise that the fundamentals of our business remain sound. The claims experience recorded is reflective of broader industry trends rather than isolated to Guinea Insurance. We made a conscious decision to settle all valid claims promptly, reinforcing our commitment to trust, reliability, and customer confidence. We are confident that our strengthened risk management framework, disciplined underwriting approach, and enhanced reinsurance programme will position the Company for a strong rebound in subsequent quarters. Our focus remains on delivering sustainable value to shareholders while upholding our promise to policyholders.”

Looking ahead, the Company remains cautiously optimistic. Management has initiated targeted recovery measures, including tighter cost management, portfolio rebalancing, and a renewed focus on profitable business segments. These actions are expected to restore earnings momentum and reinforce the Company’s competitive position within the Nigerian insurance market.

TeamApt CEO says Financial Inclusion is Dependent on Reliable Payment Ecosystem

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L-R: Mr. Chike Onwuegbuchi, Chairman, Nigeria Information Technology Reporters’ Association (NITRA); Prof. Adewale Obadare, Chief Visionary Officer, Digital Encode; Ms. Unwana Enang, Product Manager, Moniepoint Group; Mr. Chika Nwosu, Managing Director, PalmPay Nigeria and Peter Oluka, Editor. TechEconomy at the Payment Forum Nigeria 3.0 held in Lagos recently.

Stakeholders at the Payment Forum Nigeria 2026 have emphasised the need for robust and reliable payment infrastructure to drive financial inclusion, particularly among small businesses, merchants, and agents.

Speaking at the forum, David Ijaola of TeamApt, a subsidiary of Moniepoint Inc., said payment systems must be “reliable, reachable, and relevant” to support inclusive economic growth.

Representing the Chief Executive Officer of TeamApt Ltd., Dennis Ajalie, Ijaola explained that the company operates as a Central Bank of Nigeria-licensed payments infrastructure provider, offering services across switching, non-bank acquiring, Payment Terminal Service Provision (PTSP), and super-agent frameworks.

He said these capabilities enable the company to deliver financial services through gateways, point-of-sale (POS) devices, and agent networks across Nigeria’s 774 local government areas.

Ijaola described the switching layer as the “traffic controller” of digital transactions, responsible for routing payments between financial institutions and verifying approvals within seconds, often without users recognising the complexity behind the process.

He illustrated the growing dependence on digital payments with a real-life example of a roadside fruit vendor managing multiple POS devices and operating several micro-outlets, underscoring how even small-scale businesses are now integrated into the digital financial ecosystem.

According to him, small and medium enterprises contribute about 48 per cent of Nigeria’s Gross Domestic Product and account for roughly 84 per cent of employment, yet nearly 95 per cent fail within five years.

He said this highlights the urgent need for stronger financial infrastructure and support systems to improve business sustainability.

“The next wave of financial inclusion will be driven organically by merchants themselves, as they encourage customers to adopt digital payments,” he said.

To achieve this, Ijaola identified three critical pillars — reliability, reach, and relevance.

He explained that reliability must include features such as instant transaction reversals and strong security frameworks, while reach involves expanding access through agent networks and multiple service channels.

Relevance, he added, requires designing financial products that align with users’ behaviour, literacy levels, and everyday realities.

On innovation, Ijaola pointed to the under-utilisation of direct debit systems in Nigeria, noting that they account for less than one per cent of transactions despite their potential to automate recurring payments.

He said TeamApt’s direct debit solution, integrated into its POS terminals and Monnify payment gateway, is already being used for micro-pension contributions, insurance premiums, and loan repayments, thereby extending structured financial services to underserved communities.

He also highlighted opportunities in cross-border payments and artificial intelligence-driven platforms, including messaging applications, where transactions could become as simple as sending a text message.

In his remarks, Peter Oluka described the forum as a platform for shaping a more inclusive and equitable digital payments ecosystem.

Oluka stressed that financial inclusion must go beyond access to address affordability, security, and usability, particularly for underserved populations such as rural women, gig workers, and small business owners.

He called for stronger collaboration among regulators, financial institutions, and fintech companies to improve infrastructure, enhance cybersecurity, and embed financial services into everyday platforms.

According to him, such coordinated efforts are essential to unlocking the next phase of Nigeria’s economic growth and digital transformation.

PalmPay Chief, Chika Nwosu: Embedded Finance is Key to Africa’s Digital Economy

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L-R: Mr. Chike Onwuegbuchi, Chairman, Nigeria Information Technology Reporters’ Association (NITRA); Prof. Adewale Obadare, Chief Visionary Officer, Digital Encode; Ms. Unwana Enang, Product Manager, Moniepoint Group; Mr. Chika Nwosu, Managing Director, PalmPay Nigeria and Peter Oluka, Editor. TechEconomy at the Payment Forum Nigeria 3.0 held in Lagos recently.

At the third edition of Payments Forum Nigeria (PAFON 3.0), held in Lagos, PalmPay’s Managing Director, Mr. Chika Nwosu, delivered a compelling address on the transformative role of embedded finance in Africa.

Speaking on the theme “Embedded Finance in Africa: Powering Payments Where People Live, Work, and Trade”, Nwosu emphasised that the story of finance on the continent is not merely about innovation but about solving everyday problems.

He recalled that as recently as 2017, only 43 per cent of adults in Sub-Saharan Africa had access to formal financial services, with Nigeria facing even deeper exclusion. Even for those included, challenges such as network downtime and failed transactions plagued the system.

“The average Nigerian wants to synergise life, work, and business without friction. That is where embedded finance comes in,” Nwosu said, stressing that the solution lies in integrating financial services directly into platforms people already use and trust.

Highlighting the role of smartphones as gateways into the financial ecosystem, he noted that Nigeria’s large base of smartphone users presents a unique opportunity to expand access.

With small businesses and informal trade driving the economy, contributing over 80 per cent of employment and more than half of GDP in Sub-Saharan Africa, Nwosu argued that financial services must meet people where they are: in markets, on ride-hailing platforms, at POS terminals, and in online shops.

PalmPay, he explained, has focused on building infrastructure that guarantees reliability at scale, achieving a 99.95 per cent transaction success rate. “Trust is everything,” he said, adding that the company’s fraud prevention systems and human oversight have been critical to sustaining user confidence.

Beyond infrastructure, PalmPay has expanded through a network of over 500,000 agents, bringing services to the last mile, while leveraging data and AI to personalize experiences and strengthen security.

Nwosu underscored that embedded finance is already reshaping Nigeria’s digital economy by improving cash flow for small businesses, creating jobs, and moving beyond financial inclusion to meaningful usage, cautioning however, that more work remains to be done.

He outlined three priorities for unlocking the full potential of embedded finance: reliability at scale, deep ecosystem integration, and accessibility. Success, he said, will be achieved “when a trader in a remote market can transact with the same speed and confidence as a corporate executive in Lagos.”

Nwosu affirmed PalmPay’s commitment to building this future, where payments become so seamless that users no longer have to think about them at all.

CreditRegistry Seeks Fair Digital Payments to Build Trust, Inclusion, Economic Prosperity

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L-R: Mr. Chike Onwuegbuchi, Chairman, Nigeria Information Technology Reporters’ Association (NITRA); Prof. Adewale Obadare, Chief Visionary Officer, Digital Encode; Ms. Unwana Enang, Product Manager, Moniepoint Group; Mr. Chika Nwosu, Managing Director, PalmPay Nigeria and Peter Oluka, Editor. TechEconomy at the Payment Forum Nigeria 3.0 held in Lagos recently.

CreditRegistry has called for a shift in Nigeria’s digital finance conversation from transaction volume to fairness, stressing that the future of the country’s financial system depends not merely on payment speed, but on transparency, reliability, accessibility and trust.

Speaking at the third edition of the Payments Forum Nigeria (PAFON 3.0), the Managing Director/Chief Executive Officer of CreditRegistry, Dr. Jameelah Sharrieff-Ayedun, represented by Mr. Chinedu Onyia, Manager, Professional Service at CreditRegistry, described the forum as more than a policy conversation, calling it “a defining moment” for economic inclusion, financial dignity, and independence for millions of Nigerians.

Addressing stakeholders at the event, she noted that Nigeria has witnessed remarkable growth in digital finance over the past decade, with instant payment transactions surpassing ₦600 trillion in 2024, according to the Nigeria Inter-Bank Settlement System (NIBSS), positioning the country among the world’s most dynamic digital payment economies.

She also acknowledged improvements in financial inclusion, which has risen to about 64 per cent of Nigeria’s adult population, largely fuelled by mobile money, fintech innovation, and expanding agent banking networks.

However, she cautioned that these milestones should not obscure the reality that millions of Nigerians remain excluded or only partially integrated into the financial system.

“Progress must never be mistaken for completion,” she said, citing EFInA data showing that nearly 26 percent of Nigerian adults remain completely financially excluded, while many others operate at the margins of inclusion.

Describing this as Nigeria’s financial paradox, she argued that despite the country’s advanced payment infrastructure, inclusion remains uneven and vulnerable.

“Volume is not inclusion. Activity is not empowerment,” she stated, emphasizing that digital transactions that fail to create sustainable economic identity represent missed opportunities for growth and transformation.

Dr. Sharrieff-Ayedun stressed that fairness, rather than mere access, should be the central objective of Nigeria’s digital payment ecosystem.

“If digital payments are unreliable, unpredictable, or exclusionary, then they do not deepen inclusion; they erode it,” she warned.

According to her, fair digital payments are built on three essential pillars: transparency, where users understand all charges without hidden fees; reliability, where transactions are seamless and dependable; and accessibility, where systems are intentionally designed to serve all demographics, including underserved populations.

She said these pillars collectively foster trust, which she described as “the true currency of financial systems.”

Highlighting the growing significance of data in modern finance, she explained that every digital payment generates valuable financial footprints that can be transformed into structured identities and credit intelligence.

“This is the bridge between payments and credit. And this is where true financial inclusion is unlocked,” she said.

She underscored CreditRegistry’s role in converting transaction data into trust frameworks, financial behaviour into credit intelligence, and data into what she termed “dignity.”

“A decision without CreditRegistry is an incomplete decision,” she declared, reinforcing the company’s mission to provide deeper financial visibility that goes beyond transactional records to reveal character and creditworthiness.

Dr. Sharrieff-Ayedun maintained that inclusive financial systems must evolve beyond basic access to create pathways for credit, economic mobility, and generational wealth.

“We are not just building systems. We are building financial visibility for millions of Nigerians,” she said.

She concluded by urging policymakers, financial institutions, and industry stakeholders to prioritize systems that transform lives, rather than simply process payments.

“The future of Nigeria’s financial system will not be defined by how fast our payments are, but by how fair they are,” she said. “Because fairness builds trust. Trust drives inclusion. And inclusion unlocks prosperity.”

Digital Encode CVO, Adewale Obadare at PAFON 3.0: Fintech Players Should Prioritise Trust over Speed to Counter Cyber Threats

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L-R: Mr. Chike Onwuegbuchi, Chairman, Nigeria Information Technology Reporters’ Association (NITRA); Prof. Adewale Obadare, Chief Visionary Officer, Digital Encode; Ms. Unwana Enang, Product Manager, Moniepoint Group; Mr. Chika Nwosu, Managing Director, PalmPay Nigeria and Peter Oluka, Editor. TechEconomy at the Payment Forum Nigeria 3.0 held in Lagos recently.

Nigeria’s fast-growing digital payments ecosystem is increasingly vulnerable to cyber threats, with cybersecurity expert and Chief Visionary Officer of Digital Encode, Prof. Adewale Peter Obadare, warning innovators and financial technology operators that neglecting cybersecurity in pursuit of rapid market expansion could undermine financial inclusion and public trust.

Presenting a keynote address at the third edition of the Payments Forum Nigeria (PAFON 3.0) held last weekend, Obadare stressed that cybersecurity regulation should not be viewed as an obstacle to innovation but as a critical enabler of sustainable digital growth, particularly in Nigeria’s payment infrastructure where electronic fraud and cybercrime remain major threats.

According to him, many fintech operators mistakenly prioritize infrastructure deployment while postponing security implementation, a strategy he described as fundamentally flawed.

“Innovators want to build infrastructure first and secure it later, but it doesn’t work like that,” he said, insisting that cybersecurity must be integrated from the outset.

Obadare, whose keynote was themed “Focus on Cybersecurity Infrastructure for Fair Payments,” noted that Nigeria’s cyberspace has witnessed heightened attacks in recent weeks, describing the nation’s payment systems as a prime target because “this is where the money is,” and argued that many of these attacks are not highly sophisticated but are often the result of organisations failing to implement basic cybersecurity measures.

“Most of the attacks we are seeing are because the basic stuff is not being done,” he said. “A lot of payment infrastructures have weak immunity on the internet, and when immunity is low, opportunistic attacks become inevitable.”

Drawing comparisons between physical and digital security, the cybersecurity specialist likened unsecured payment systems to leaving one’s home or car unlocked in a public environment, emphasising that cyberspace is inherently exposed, requiring constant vigilance and robust safeguards.

Obadare, the first Professor of Practice in Cybersecurity in Nigeria, identified cybersecurity threats and electronic fraud as the “big elephant in the room” for Nigeria’s financial ecosystem, warning that without trust, digital financial inclusion efforts could stall. “Payment is sensitive because it involves people’s money. Once trust is lost, adoption suffers,” he said.

He also highlighted how regulatory interventions have historically strengthened Nigeria’s payment ecosystem, citing the migration from magnetic stripe cards to chip-and-PIN technology as a successful example.

While explaining that such regulations significantly reduced card cloning and fraud, proving that effective cybersecurity policies enhance rather than hinder innovation, Obadare stated: “Regulation helped solve a major fraud problem. That’s what good cybersecurity regulation does—it protects innovation from collapse.”

The cybersecurity expert warned, however, that cybercriminals are continuously evolving, leveraging artificial intelligence and new technologies to exploit vulnerabilities faster and at greater scale, noting that AI has effectively placed more advanced cyberattack tools in the hands of criminals, increasing the urgency for organisations to proactively strengthen defences.

“AI is now fuelling cybercrime at an unprecedented level,” Obadare cautioned. “Cybercriminals are innovating too.”

The professor further criticized organizations that invest heavily in product development but resist spending on security architecture, describing cybersecurity as an investment rather than a cost centre. He argued that reactive crisis spending after security breaches is far more expensive than proactive protection.

“Cybersecurity is not a cost; it is an enabler,” he said. “If you fail to secure your systems, you will pay for it eventually, often at a much higher price.”

Obadare called for a strategic, architectural, and delivery-focused approach to digital payment systems, urging innovators to consistently ask whether they are “doing the right thing, doing it the right way, and getting it done well.”

He noted that building digital trust requires sustained investment in people, processes, and technology, emphasising that trust-driven systems naturally attract adoption more effectively than aggressive marketing.

“Digital trust is hard work. It is not a one-time achievement but a continuous journey,” he said. “When trust is strong, financial inclusion becomes a pull system, not a push system.”

 

 

 

P+ Beats Three Agencies to Win NSIA Media Intelligence Business

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P + Measurement Services Limited – (P+) has won the media monitoring and intelligence business for the Nigeria Sovereign Investment Authority (NSIA) following a competitive and rigorous pitch process involving four agencies.

The selection process assessed strategic thinking, execution capability, and the ability to deliver timely, decision-ready intelligence. P+ distinguished itself through its strength in near real-time media monitoring, advanced measurement frameworks, and performance audit systems designed to support complex institutions with multiple stakeholder interests.

Under the engagement, P+ will provide continuous media intelligence across NSIA’s operations and affiliated interests, delivering insight-driven analysis to strengthen reputation management, stakeholder engagement, and communication performance.

P+ brings a strong and diverse portfolio spanning government institutions, financial services, development organisations, multinationals, energy, telecommunications, and NGOs. Its approach combines global best practices with deep local expertise, ensuring that intelligence is both contextually relevant and strategically useful.

Speaking on the win, Chief Media Analyst at P+ Measurement Services Limited, Philip Odiakose, noted that the process reflected the level of diligence expected from an institution like NSIA, adding that the P+ focus remains on delivering media intelligence that goes beyond tracking media mentions to explaining narratives, measuring impact, and guiding decision-making.

He emphasised that P+ will leverage its global methodologies, adapted to local realities, to provide NSIA with timely insights, clear performance evaluation, and a deeper understanding of how media perception shapes outcomes.

Also commenting, the Corporate Communications at the Nigeria Sovereign Investment Authority said P+ demonstrated a strong understanding of the Authority’s requirements and a clear ability to translate media data into meaningful insight.

The NSIA communications team noted that the firm’s proven track record across sectors, combined with its disciplined approach to measurement and evaluation, positioned it as a credible partner to support NSIA’s communication priorities and broader institutional objectives.

About P+ Measurement Services Limited
P+ Measurement Services Limited is a leading media intelligence and PR measurement consultancy providing monitoring, analysis, and evaluation services to organisations across government, private sector, and non-profit institutions.

About Nigeria Sovereign Investment Authority (NSIA)
The Nigeria Sovereign Investment Authority manages Nigeria’s sovereign wealth fund, focused on infrastructure investment, economic stabilisation, and long-term national savings.

 

RANKED 2026 Report: Nigeria’s Digital Media Traffic Drops 26% as AI Reshapes News Consumption

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Nigeria’s digital media ecosystem recorded a 26.2% decline in total readership traffic in 2025, according to the newly released SquirrelPR RANKED 2026 Report, signalling a major shift in how audiences consume news and how influence is measured across the industry.

Total traffic across Nigerian digital media platforms fell from over 1.04 billion visits in 2024 to 769 million in 2025, marking one of the most significant structural changes in the country’s media landscape in recent years.

The report notes that this decline does not reflect reduced relevance, but a recalibration driven by artificial intelligence. AI-powered search overviews are increasingly answering user queries directly, reducing the need to visit publisher websites while still relying on those same publishers as primary sources.

“The old model of digital media was built on clicks. That model is breaking down,” said Jonah Solomon, Co-founder of SquirrelPR. “Today, influence is defined by authority, trust, and the ability to shape conversations—even when users don’t click through.”

Delivering the keynote address, Keni Akintoye, CEO and Lead Strategist at KT Communication, described the shift as a fundamental evolution in how influence is created and distributed.

“Influence has not declined—it has evolved,” he said. “People are still consuming content, but increasingly without arriving at the source. In that reality, traffic is no longer a complete measure of relevance. Trust is.”

He added that media platforms are transitioning from destinations to sources of authority within a broader information ecosystem, where credibility determines whether content is referenced and amplified.

The report highlights that domain authority and credibility are emerging as key indicators of influence, as high-authority platforms continue to dominate visibility in AI-driven discovery environments.

Across sectors, performance patterns vary. Legacy news platforms continue to dominate traffic and remain central to the information ecosystem powering search and AI systems. In business media, specialist platforms are gaining traction with more targeted, insight-driven content. Technology media faces the most direct pressure from AI summarisation, while entertainment and lifestyle platforms remain relatively resilient due to their cultural and engagement-driven nature.

Insights from the panel session reinforced the shift away from volume-driven metrics. Múyiwa Mátuluko, CEO of Businessfront, said media organisations must prioritise depth and relevance over scale. Rasheed Bolarinwa, Group Head of Brand Marketing and Communications at Polaris Bank, noted that brands are increasingly focused on conversion, trust, and audience quality.

From the newsroom perspective, Olufemi Ajasa, Online Editor of Vanguard, emphasised that credibility and quality journalism remain central to relevance. Damilola Bright-Ukwenga, a communications professional, highlighted the growing role of creators and micro-influencers in shaping narratives. Ifeanyi Abraham, PR Director at CIG Motors and moderator, described the shift as seismic, urging industry players to reposition for resilience.

The report concludes that traffic alone is no longer a sufficient performance metric, calling for a more strategic, authority-led approach to media visibility.

“PR can no longer be guesswork,” Solomon added. “You need data to understand which platforms truly shape perception.”

SquirrelPR also unveiled SquirrelPR 2.0, an AI-powered PR management platform built for Africa, and SMT Monitor, a media monitoring and social listening platform designed to support more data-driven communication strategies.

The RANKED 2026 Report positions Nigeria’s media landscape not as declining, but evolving into a more complex, AI-mediated ecosystem where trust, credibility, and influence matter more than ever.

 

Mutual Benefits Pays ₦13.6bn Claims in Q1 2026, Reinforcing Trust in Insurance

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Mutual Benefits Assurance Plc has announced the payment of ₦13.6 billion in claims to policyholders across its General Insurance and Life Business portfolios in the first quarter of 2026, covering the period from January to March.

The impressive payout underscores the company’s enduring commitment to prompt claims settlement, financial strength and the fulfilment of its core promise to policyholders, further affirming Mutual Benefits’ position as one of Nigeria’s most dependable and customer-focused insurance institutions.

Commenting on the development, the Managing Director of Mutual Benefits Assurance Plc, Mr. Olufemi Asenuga, stated that claims payment remains the strongest proof of an insurer’s credibility and value.

According to him, every settled claim represents a promise fulfilled, helping families recover, businesses bounce back and customers stay protected against unforeseen losses. He added that the company remains committed to maintaining high standards in underwriting discipline, service delivery and claims responsiveness across all touchpoints.

The company’s latest performance also comes at a significant period for the Nigerian insurance industry, as recapitalisation discussions and market reforms continue to shape the sector. In this environment, Mutual Benefits’ sustained claims payment culture highlights its resilience, financial stability and customer-first orientation.

Industry observers have long maintained that prompt claims settlement is one of the most effective ways to build public confidence in insurance and deepen penetration across Nigeria.

With insurance penetration in Nigeria still below global averages, sustained public awareness of prompt claims payment remains essential to changing perceptions, encouraging uptake and building trust in the industry.

For over three decades, Mutual Benefits has built a reputation around reliability, nationwide reach and a consistent commitment to customers. Its sustained claims payment tradition remains one of the company’s strongest differentiators in a dynamic marketplace. Recent customer testimonials have also pointed to the relief and confidence policyholders derive from the company’s timely claims settlement. Such testimonials reinforce the real-life role insurance plays as a stabilising force for households and enterprises.

 

 

 

Unity Bank, Experts Advocate Green Investment, Climate Innovation to Drive Economic Resilience

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Nigeria’s retail lender, Unity Bank Plc, alongside leading climate innovation experts, has called for increased investment in the green economy and the adoption of frontier technologies as critical pathways to driving economic resilience and reducing the impact of climate change on vulnerable populations across Africa.

The call was made during a thought-provoking webinar hosted by the Bank to commemorate this year’s Earth Day, themed “The True Cost of Climate Change and Who Pays?”. Climate experts and stakeholders convened to examine the human, economic, and institutional costs of climate change, while spotlighting practical solutions to address its growing impact.

In his opening remarks, Unity Bank’s Head of Strategy and Innovation, Ibukun Coker, emphasised the urgency of addressing climate risks from both a societal and business perspective.

He said: “Climate change is no longer a distant or abstract challenge. It is an existential threat with direct consequences for individuals, businesses, and economies. At Unity Bank, we recognise the role institutions must play in incorporating sustainability in project financing, supporting businesses and promoting solutions that build resilience in communities where we operate.”

The webinar featured Chinwe Udo-Davis, Founder and CEO of Instollar, and Oluwatosin Ajide, Programme Manager at the Nigeria Climate Innovation Centre, both of whom provided insights into the drivers of climate change and the pathways to mitigation and adaptation.

Speaking during the session, Udo-Davis highlighted the disproportionate burden which climate change places on underserved communities and the need for inclusive solutions.

“The true cost of climate change is not evenly distributed. Communities with the least resources are often the most affected, whether through energy poverty, environmental degradation, or limited access to sustainable alternatives. Addressing this imbalance requires intentional investment in clean energy solutions that are both accessible and scalable.”

Ajide underscored the importance of coordinated, system-wide approaches in tackling climate challenges, particularly through innovation and policy alignment.

“Climate change is fundamentally a structural problem, and its solution requires a paradigm shift: from innovation and policy to financing and implementation. Stakeholders must work collaboratively to drive solutions that are sustainable and inclusive.”

The session also explored emerging opportunities in climate technology, renewable energy, and ecosystem financing, reinforcing the role of innovation and cross-sector collaboration in building long-term resilience.

By hosting the webinar, Unity Bank continues to demonstrate its commitment to advancing sustainability-focused dialogue and supporting initiatives that promote responsible growth and environmental stewardship.

The initiative underscores the Bank’s broader strategic focus on environmental sustainability as well as its commitment to financial inclusion.

Moniepoint Redefines Nigeria’s Agency Banking via Track Record, Unique Services 

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Moniepoint Microfinance Bank (Moniepoint MFB) has reaffirmed its leadership in Nigeria’s agency banking space, positioning its track record and distinctive service model as a game-changer for the sector, while committing to deepen value creation across the entire ecosystem.

Beyond service provision, the Bank is cementing its identity as the homegrown, technological backbone of the real economy, built by Nigerians to solve the specific complexities of the local commercial landscape.

Speaking on the Bank’s evolving strategy, Ezekiel Sanni, Senior Vice President (SVP), Distribution Network Sales, Moniepoint MFB, said the Bank’s approach is built on a clear understanding that agency banking must be anchored on consistent enterprise support, trust building, and real economic value for agents, merchants and their customers.s

“Agency banking has grown significantly in reach, but the next phase of growth will be defined by quality of service and depth of engagement,” Ezekiel Sanni, SVP, Distribution Network Sales, said. “At Moniepoint MFB, we have built a model that prioritises not just access, but meaningful, routine local support for the merchants and communities we serve while our engineering is a commitment to the stability that these businesses need to thrive.”

At the core of this approach is the deployment of dedicated field-based managers who work closely with agents, providing hands-on, on-the-ground support tailored to their daily operations.

Unlike conventional systems, where engagement often ends after onboarding, Moniepoint MFB maintains continuous interaction with agents, driving product usage, resolving operational challenges, and strengthening long-term partnerships.

By combining digital infrastructure with a strong physical presence, the Bank has created a hybrid service model that delivers both scale and human connection.

This proximity enables faster issue resolution and supports always-on mentorship, where merchants receive ongoing business guidance, real-time operational support, and on-the-job training, particularly in critical areas such as fraud detection and anti-money laundering (AML) regulatory compliance.

“When you are close to the agent, you are in a position to go beyond providing a service to building capability,” Mr. Sanni added. “Our teams work alongside agents to strengthen their operations, improve compliance awareness, and ultimately protect both their businesses and the broader financial system.”

According to the Bank, the impact of this approach extends beyond agents and merchants to last-mile customers, who benefit from more reliable service, safer transactions, and greater confidence in the financial system they interact with daily.

Moniepoint MFB’s model has been further strengthened by its track record over the past few years as the bona fide operating system for small businesses.

The Bank has integrated value-added services, such as inventory management, savings product, and access to working capital loans, into its platform, embedding itself in merchants’ day-to-day operations and significantly increasing the value delivered.

“Our aspiration has been to become indispensable to the businesses we serve,” Ezekiel noted. “When your banking partner is also supporting your inventory, helping you navigate other obligations, and providing access to capital, the relationship becomes stronger and more impactful.”

The Bank’s strong performance metrics reinforce this positioning as Nigeria’s largest merchant acquirer, powering 8 out of every 10 in-person payments made across the country, driven by reliability, fast transaction processing, rapid settlement cycles, and a range of other benefits.

This consistency has also helped build a reputation for reliability, which the Bank describes as a key competitive moat in a market where agents often consolidate around a single provider.

“In many cases, agents are effectively choosing a long-term partner they trust to be stable, responsive, and dependable. That is the trust we have deliberately built, that continues to differentiate us even as we work hard to contribute meaningfully to the broader growth and development of the financial ecosystem,” Mr. Sanni added.

The Bank reiterated that it sees agency banking not just as a channel but as critical infrastructure for economic participation and an enduring financial inclusion.

Moniepoint’s commitment is to keep strengthening that infrastructure, supporting merchants, empowering customers, and continuing to serve as the reliable, indigenous engine that keeps Nigeria’s real economy moving.

 

Ecobank Nigeria, DHL Equip Nigerian SMEs to Compete Beyond Local Markets

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Participants with staff members of Ecobank and DHL at the capacity‑building programme.

Ecobank Nigeria, in partnership with DHL, has successfully concluded a three‑week intensive capacity‑building programme aimed at equipping Small and Medium Enterprises (SMEs) with the skills, tools, and insights required to scale beyond local markets and compete globally.

The programme brought together entrepreneurs across diverse sectors and focused on critical growth enablers such as cross‑border trade, e‑commerce opportunities, logistics, customs procedures, and international shipping—key pillars for sustainable expansion in today’s increasingly connected global marketplace.

Participants described the initiative as impactful, practical, and transformative. Founder of Lagos‑based fashion brand DebsfrayDolapo Fatoki, said the training addressed long‑standing business challenges.

“The sessions were highly informative. I gained a deeper understanding of documentation and pricing, two areas that previously posed major challenges for me. The collaboration between DHL and Ecobank has been exceptional and truly beneficial,” she noted.

Similarly, Tosin Olukuade, Creative Director of FC Accessories, described the programme as “an eye‑opener,” adding that it reshaped his approach to business growth.
“The insights I gained will help me scale my business exponentially. I am grateful to Ecobank and DHL for creating this opportunity,” he said.

Reflecting on the programme’s digital focus, Mrs. Theresa Onwuka, CEO and Founder of Needle Point, highlighted how the sessions broadened her outlook on growth and innovation. “The class was so good—it got my mind thinking of possibilities. My main takeaway is clear: digitalisation is the way forward,” she remarked.

One of the programme’s sessions, titled “Trade and Grow Beyond Borders: Welcome to E‑commerce,” was delivered by Charles Eke, Relationship Channel Manager, DHL Customers/Global Express. He underscored logistics as a critical success factor for SMEs, identifying key challenges such as access to finance, markets, and efficient logistics. He also provided practical guidance on customs processes, international shipping, documentation, and shipment tracking, while emphasising the immense opportunities

e‑commerce presents for cross‑border expansion. According to him, international markets often offer greater growth potential than domestic markets for well‑positioned SMEs.

Speaking on the impact of the initiative, Omoboye Odu, Head, SMEs, Partnerships and Collaborations at Ecobank Nigeria, described the programme as a catalyst for meaningful growth and mindset change. “Over the past three weeks, something truly powerful has taken place. This programme has gone far beyond knowledge sharing—it has inspired new thinking and unlocked fresh possibilities for our SMEs. The message is clear: no business should be limited by geography,” she said.

Odu reiterated Ecobank’s deliberate focus on SMEs as key drivers of Africa’s economic development.
“Beyond building capacity, we are intentionally opening doors by connecting businesses to new markets and opportunities. With our presence in over 30 African countries, coupled with integrated payment, trade finance, and e‑commerce solutions, Ecobank is uniquely positioned as the Pan‑African bank enabling seamless cross‑border trade,” she added.

She also highlighted the Bank’s continued commitment to supporting women‑led businesses through Ellevate by Ecobank, which provides access to finance, business advisory services, and tailored solutions designed to help female entrepreneurs scale sustainably and compete globally.

“When businesses gain access to markets, ambition turns into action and growth accelerates. This initiative is not just training; it is transformation,” Odu concluded.

Ecobank Nigeria remains committed to driving innovation, fostering strategic partnerships and creating impactful platforms that enable African businesses to thrive on the global stage.

 

 

 

QEDNG Summit 2026 Set for August 11 in Lagos

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The QEDNG Creative Powerhouse Summit will hold its second edition on August 11 in Lagos, bringing together leaders across the creative, business and policy spaces.

Convened by Mighty Media Plus, publishers of online newspaper QEDNG, the summit brings together conversations at the intersection of creativity, enterprise and influence, with a focus on strengthening Nigeria’s creative economy.

Reflecting on the inaugural edition, Iyanda said the summit drew participation from respected figures across sectors, including Group Managing Director of SO&U, Udeme Ufot as Chairman and Founder of The Africa Soft Power Group, Dr. Nkiru Balonwu as keynote speaker, alongside panellists such as filmmaker, Kunle Afolayan, All Africa Music Awards (AFRIMA) Founder, Mike Dada and executive director of the National Film and Video Censors Board (NFVCB), Dr. Shaibu Husseini who contributed to discussions on the direction of the creative economy.

“The first edition showed that there is a strong interest in serious engagement around the creative economy. We had contributions from experienced voices who helped set the tone for the kind of platform we are building,” Iyanda said.

Building on the success of its inaugural edition, the summit continues to expand its scope, attracting a diverse mix of industry leaders, entrepreneurs, policymakers and emerging talents.

“This summit is designed as a meeting point for ideas, influence and execution. It is not just about conversations, but about outcomes that strengthen the creative economy,” Iyanda added.

He noted that the timing of the summit is significant as the country’s creative sector continues to evolve.

“Nigeria’s creative sector has grown in visibility, but the structures that support it are still evolving. The QEDNG Creative Powerhouse Summit is part of the effort to bring clarity, direction and serious engagement to that growth,” he said.

The 2026 edition will feature keynote addresses, panel discussions and curated sessions addressing themes around innovation, growth, funding and the global positioning of Nigerian creative talent.

According to Iyanda, the long-term goal is to build a platform that remains relevant across generations.

“Our goal is to build a platform that remains useful over time, one that documents progress, connects stakeholders and contributes meaningfully to policy and practice,” he said.

Further details on speakers, partners and the full programme will be announced in the coming weeks.