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LASAA Staff Faces Sanctions for Policy Breach after Viral Allegation, Cleared of Fraud

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The Lagos State Signage and Advertisement Agency (LASAA) has announced that an internal investigation has cleared a staff member of a fraudulent transaction allegation that recently went viral on social media. However, the employee will still face disciplinary action for violating the agency’s strict ‘no cash’ policy and using a personal account for a transaction.

The controversy according to a statement from the agency, began with a social media post alleging that LASAA staffer, Olukayode John Adetifa, had improperly collected ₦45,000 from a client, MJ Beauty Salon, via his personal Opay account but only issued a receipt for ₦7,100.

Following the initial outcry, LASAA issued a press statement acknowledging the serious allegation and immediately directing Mr. Adetifa, who is deployed to the Alimosho Branch Office, to report for an immediate investigation and disciplinary proceedings. The agency emphasized that all payments must be made only through officially designated government channels and reiterated its commitment to transparency.

The subsequent fact-finding by the Agency’s disciplinary panel, which included a visit to the business owner, paints a complex picture of the transaction.

Mr. Adetifa explained to the panel that the business had multiple unregistered signs and was slated for enforcement. During a final visit to encourage registration, the client, MJ Beauty Salon, agreed to pay. She claimed she was feeling unwell and offered him cash, which he declined. The client then requested his assistance to make the official online payment, to which he obliged in an effort to secure the long-overdue revenue.

He collected ₦40,000 from the client, which he stated covered the full fees for the three signs: the Application Processing Fee of ₦7,140, the Permit Fee of ₦28,880 and payment gateway charges. He then registered the signs online in the client’s presence, assuring her she would receive the official notification by email. Mr. Adetifa also reported receiving threatening messages later regarding the payment balance.

The owner of MJ Beauty Salon subsequently confirmed this version of events to the LASAA Management team, admitting that she was unaware of the viral post and apologised for the misunderstanding. She specifically stated that Mr. Adetifa collected no gratification and disassociated herself from the X (formerly Twitter) handler who misrepresented the story.

Despite clearing Adetifa of fraudulent intent, LASAA confirmed that he still committed a serious offence. “It is glaring that our Staff though has no fraudulent intent as seen from his explanation and that of the client, he has still committed an offence by collecting client’s money in his personal account contrary to the Agency’s policy,” the management stated.

Adetifa will be dealt with in accordance with the Public Service Rules upon the conclusion of the disciplinary committee’s report.

LASAA used the opportunity to urge the public to always follow due process, specifically the “no cash policy or payment to personal account for no reason” as the agency’s processes are self-service, seamless and automated. They also reiterated that they do not have any agents and implored clients to transact directly via the official website.

The agency urged the public to report genuine issues responsibly and warned against spreading false information that undermines government services.

NGX Group Fuels Women’s Investment Drive, Engages 9,000 at FinTribe Finance Fair 2025

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Nigerian Exchange Group (NGX Group), through its regulatory subsidiary, Nigerian Exchange Regulation Limited (NGX RegCo), has reaffirmed its commitment to expanding financial inclusion and deepening retail investor participation following the successful FinTribe Finance Fair 2025, which convened over 9,000 women focused on wealth creation and capital market opportunities.

The event, organised by FinTribe, one of Nigeria’s fastest-growing women’s finance communities, has become a leading platform for promoting financial literacy and building investment confidence among women. NGX RegCo’s participation, through its flagship EquipHER initiative, featured interactive sessions that demystified capital market concepts and empowered women to make informed investment decisions.

“You have what it takes to step into greater capability and control over your financial agenda,” said Olufemi Shobanjo, Chief Executive Officer, NGX RegCo. “The same mindset that drives you to start a business, buy a home, or save for your child’s education, to plan, commit, and follow through, is exactly what makes women exceptional investors.”

Commending FinTribe for its sustained commitment to financial education, Shobanjo emphasized that the Nigerian capital market offers practical frameworks for translating financial discipline into purposeful wealth-building strategies. “Financial inclusion begins with awareness,” he affirmed.

“When women understand how the market works, they can own their financial futures and build sustainable wealth.”

In alignment with these educational efforts, NGX Group’s technology-driven innovations are lowering barriers to market entry. The Group’s digital investment platform, NGX Invest, enables investors to participate in public offers and rights issues directly from their smart devices, bridging awareness with active market participation.

Jennifer Awirigwe, founder of FinTribe and popularly known as Financial Jennifer, commended the collaboration for driving meaningful impact. “Our partnership with NGX RegCo through EquipHER has created a bridge between knowledge and action,” she stated. “Women are not just learning about finance, they are taking ownership of their financial journeys and inspiring others to do the same. It’s equipping her, not in words, but in action.”

During an interactive Q&A session, Shobanjo addressed questions on share ownership transfers, portfolio management, and investment process navigation, encouraging participants to engage licensed stockbrokers and financial advisers for transparency and efficiency. “It can seem overwhelming at first,” he acknowledged. “But with the right professional guidance, investors can easily navigate the process and take control of their holdings.”

Throughout the fair, the EquipHER booth became a hub of engagement, attracting participants eager to learn how to initiate or expand their investment portfolios.

This initiative complements NGX Group’s broader retail engagement strategy, aimed at deepening participation in Nigeria’s capital market. Recently, the Exchange participated in a public lecture at Godfrey Okoye University, Enugu, themed “Harnessing the Capital Market for Catalyzing Infrastructure Development and Economic Transformation in Nigeria,” reinforcing NGX’s conviction that an informed and engaged public is essential to sustainable economic growth and inclusion.

Through initiatives such as EquipHER and regional retail engagements across Nigeria, NGX Group continues to build a more inclusive, informed, and empowered investor base, reflecting its vision to deepen market participation across gender, geography, and generation.

 

BOI, MAN, NECA CEOs to Address Low Productivity in Nigeria at WES 2025

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*As nominations portal closes for WES 2025 Awards for Outstanding Economic Impacts

All is set for the annual WorldStage Economic Summit 2025 on Friday November 21, 2025 at The Event Centre, Nigerian Exchange Limited, 2/4 Customs Street, Lagos by 10am, with top experts from the public, private and academia set to address the theme: Tackling the Issue of Low Productivity in Nigeria.

According to a statement by the organisers, World Stage Limited, a research and technology driven Africa focused firm, among the top chief executives that have confirmed participation in the summit include Dr. Olasupo Olusi, Managing Director/CEO, Bank of Industry (BoI); Mr. Segun Ajayi-Kadir, Director-General, Manufacturers Association of Nigeria (MAN) and Mr. Adewale Smatt-Oyerinde, Director General, Nigeria Employers’ Consultative Association (NECA).

The statement also said that Dr Abidemi Adegboye, an academia from the University of Lagos, Nigeria will deliver a researched paper on why Nigeria’s economy has been trapped in low productivity over the years.

The statement confirmed that the online nominations by stakeholders including the media for the WES 2025 Awards for Outstanding Economic Impacts has closed.

It said winners from different sectors of the economy have been notified and will be presented with Certificates for Outstanding Economic Impacts during the summit.

WES is conceived to address economic challenges through diagnoses and application of practicable solutions with public and private sector engagement in a research and innovation driven platform to inspire new thinking in business initiative, policy formulation/implementation, economic reform and development.

Top corporate institutions that are supporting WES 2025 include Central Bank of Nigeria (CBN), Nigerian Communications Commission (NCC), Nigerian Exchange Group Plc (NGX), NLNG, Zenith Bank, Access Bank, Polaris Bank, Fidelity Bank, Sterling Bank, Shara Group and Ecobank.

Other critical stakeholders for economic productivity expected to take the front seats at the summit include federal, state governments and private bodies responsible for food production, technology transfer, job creation, energy supply, blue economy, banking and export promotion.

The statement said, the summit will specifically attract those in the manufacturing, oil and gas, housing, agriculture, and water resources, banking, insurance, maritime, ICT, aviation, mining, hospitality & tourism, health care, education, transportation, local and foreign investors, and the media.

Mr. Segun Adeleye, President/CEO, World Stage Limited said one of the biggest challenges facing Nigeria’s economy is low productivity.

“Even-though many are working, almost half of Nigerians are estimated to be poor, living below the national poverty line with multidimensional poverty at 63% and income poverty at 40%, just because the right jobs are not available,” he said.

“The question being asked by many is that if Nigeria’s economy is transforming, does the transformation deliver higher productivity jobs to raise living standards?”

He explained that WES 2025 will provide a template to discuss evidence-based policies to generate jobs that can lift people out of poverty; legislative intervention to curb annual economic loss through multiple public holidays; ideas on how to boost earnings in activities that are currently low productivity and small scale activities such as in farm and non-farm household enterprises; a stable macro environment, requiring a continuation of fiscal and exchange rate reforms that will inspire better integrating firms into global value chains and attracting foreign direct investment; further opening of the economy to international trade by removing trade restrictions and improving trade facilitation, as well as ensuring skills are aligned with the economy’s needs; design and implement national skills programs aimed at upskilling young Nigerians, to ensure many more embrace digital skills and capabilities; upgrading infrastructure as key ingredients of an effective policy mix; aggressive integration of mineral resources into national income generation stream to benefit from the opportunities presented by AfCFTA; financing structural transformation with accelerated domestic resource mobilisation through reforming tax administration.

WES has always been a hub of opportunity, an unparalleled platform for networking, learning, and adapting. It is an invaluable experience that brings together public, industry leaders and like-minded professionals.

 

 

Stanbic IBTC Bank Rewards 78 Savers with ₦16m in 6th Monthly, 2nd Quarterly Draws

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Stanbic IBTC Bank remains committed to putting smiles on the faces of its customers by enhancing their financial well-being. At the bank’s recent Reward4Saving Season 4 Promo combined draw, 78 savers emerged as joint winners of ₦16 million.

The milestone event combined the sixth monthly draw with the second quarterly draw for this season. The initiative continues to turn everyday savings into meaningful rewards while inspiring more Nigerians to embrace the saving culture.

The combined draw, which was held on Wednesday, 15 October 2025 at Stanbic IBTC’s Head Office in Victoria Island, Lagos, saw 70 winners, 10 from each of the bank’s seven business zones, receive ₦100,000 each. Adding to the celebrations, seven lucky customers went home with ₦1 million each, while one saver clinched the grand quarterly prize of ₦2 million. Altogether, winners got ₦16 million in cash prizes.

The draw was overseen by regulators including the Federal Competition and Consumer Protection Commission (FCCPC), Advertising Regulatory Council of Nigeria (ARCON), and the Lagos State Lotteries and Gaming Authority (LSLGA) to ensure transparency and fairness throughout the process.

Since the launch of the Reward4Saving Season 4 campaign, 436 customers have collectively won ₦60 million. With a total prize pool of ₦130 million, the excitement is far from over, as ₦70 million remains to be won before the promo ends on 31 March 2026.

This generous reward scheme continues to fuel enthusiasm and strengthen loyalty among Stanbic IBTC Bank’s growing customer base nationwide.

Speaking at the draw, Sadiya Ojo, Head, Entrenchment, Stanbic IBTC Bank, reaffirmed the bank’s dedication to customers and its role in deepening Nigeria’s savings culture: “We are here to witness Stanbic IBTC Bank’s commitment to acknowledging the efforts of our loyal customers while promoting the importance of saving within our community.

Today, we are rewarding 78 savers with ₦16 million. This promotion is open to both existing and new customers. By saving just ₦10,000 in your Stanbic IBTC Savings Account or @ease Wallet for a continuous 30-day period, you automatically qualify for the draw. The more you save, the better your chances of winning.”

Bidemi Iziomoh, who emerged as the grand quarterly winner of ₦2 million, also shared his excitement. He said:

“I started banking with Stanbic IBTC Bank after facing challenges with my former bank. A friend introduced me to Stanbic IBTC, and I wasn’t even aware of the promo until I got a call. As a cybersecurity expert, I had to confirm the authenticity, so I checked the number on Truecaller and conducted some online research. To my delight, it was genuine. I have received my money, and I am deeply grateful to Stanbic IBTC Bank.”

Francis Goma, a dry cleaner and one of the ₦1 million beneficiaries, expressed his joy at winning in the Stanbic IBTC Bank Reward4Saving Promo. He said:

“When I first got the text message, I thought it was a scam. But I decided to come and verify, and to my surprise, it was real. I have been credited, and I am so happy because I plan to invest the money in my business. I honestly did not expect to win; I was simply saving as part of my normal routine. Today, I am a millionaire, thanks to Stanbic IBTC Bank.”

With six monthly draws, two quarterly draws, and the grand finale still to come, more opportunities lie ahead. Customers are encouraged to save at least ₦10,000 for 30 consecutive days in a Stanbic IBTC Savings Account or @ease Wallet for a chance to be among the next winners.

Access Holdings Reports ₦2.5tn Gross Earnings in H1 2025

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Access Holdings Plc has announced its half-year audited financial results for the period ended June 30, 2025.

The Group’s financial results for the half year ended June 30, 2025, reflect the resilience of our business model, the diversification of our revenue streams, and the steady progress to the execution of our five-year strategic plan.

Gross earnings increased by 13.8% year-on-year to ₦2.5 trillion in H1 2025 from ₦2.2 trillion in H1 2024, driven by strong growth in interest income which increased by 38.9% year-on-year to ₦2.0 trillion from ₦1.5 billion in H1 2024.

Net interest income also increased by 91.8% year-on-year to ₦984.6 billion in H1 2025 from ₦513.4 billion in H1 2024.

Complementing this performance was a growth in net fees and commission income, which increased by 16.1% year-on-year to ₦237.7billion in H1 2025 from ₦204.7 billion in H1 2024.

Profit before tax (PBT) and profit after tax (PAT) closed at ₦320.6 billion and ₦215.9 billion respectively underscoring the strength and resilience of our business model in the markets we operate in.

Key balance sheet indicators remain strong with total assets, customer deposits, loans and advances, and shareholders’ equity closing at ₦42.4 trillion, ₦22.9 trillion, ₦13.2 trillion ₦3.8 trillion respectively.

The Banking group demonstrated resilient performance in H1 2025. Interest income grew by 38.7% year-on-year to ₦2.0 trillion in H1 2025 from ₦1.5 trillion in H1 2024. Net interest income increased by 85%, from ₦536.7 billion in H1 2024 to ₦992.7 billion in H1 2025. Fee and commission income increased by 27% to ₦294.9 in H1 2025 from ₦232.5 billion in H1 2024 driven by increased transaction volumes. Profit before tax (PBT) and profit after tax (PAT) closed at ₦303.0 billion and ₦199.3 billion respectively.

Banking group subsidiaries contributed 65% to the Banking group’s profit before tax (PBT) in H1 2025. This result highlights our journey towards sustainable performance and execution across our key African and international markets.

The Group’s non-banking subsidiaries maintained a strong growth momentum. For Access – ARM Pensions, financial performance was robust, with revenue up 29.9% to ₦21.0 billion and profit before tax up 65.1% to ₦13.1 billion. The business delivered a solid ROAE of 48.1%, a cost-to-income ratio of 35.1%, and a PBT margin of 62.5%, underscoring strong operational efficiency and profitability.

Hydrogen Payments recorded a 40.5% growth in top-line revenue compared to H1

  1. Profit before tax (PBT) grew by 273% year-on-year. The total transaction value processed increased by 211%, reaching ₦41.1 trillion in H1 2025, up from ₦13.8 trillion in H1 2024.

Access Insurance Brokers has sustained strong momentum, recording a 125% year-on-year increase in gross written premium, 146% growth in revenue, and a 161% improvement in profit before tax (PBT).

Oxygen X, the Group’s digital lending arm, has sustained strong momentum since launch in Q3 2024, delivering ₦5.4 billion in revenue and ₦2.2 billion in profit before tax in H1 2025.

Access Holdings’ businesses are well-positioned to deepen market penetration, expand product offerings, and leverage cross-sell opportunities across the Group to drive continued growth and profitability.

The group’s focus remains on driving prudent growth and continued execution of its strategic priorities, scaling its digital and transaction-led income streams, increasing revenue diversification, embedding efficiency, innovation, and disciplined portfolio management across all areas of the business.

It will also continue to uphold the highest standards of risk and governance discipline to ensure sustainable profitability.

Access Holdings remains confident that it will continue to deliver sustainable value and returns to its  shareholders.

Its long-term objective is to build a stronger, more agile Group that consistently delivers superior returns, fosters innovation-driven growth, and optimises portfolio performance to create inclusive value across its markets while reaffirming investor confidence in the strength and future of Access Holdings.

The Group appreciates the continued trust and support of its shareholders, customers and employees. Together, the Group is building a stronger future.

 

 

CBN Welcomes Nigeria’s Removal from FATF Grey List

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The Central Bank of Nigeria (CBN) welcomes the Financial Action Task Force’s (FATF) formal announcement of Nigeria’s removal from the list of jurisdictions under increased monitoring, known as the “grey list”, following a successful on-site evaluation of reforms implemented across the financial system.

The FATF decision recognises significant improvements in Nigeria’s regulatory, supervisory, and enforcement frameworks, particularly in combating money laundering, terrorist financing, and proliferation financing.

It marks an important milestone in the country’s continuing efforts to strengthen financial system integrity, transparency, and international confidence.

The FATF’s decision follows a two-year reform programme coordinated by the Federal Government of Nigeria, involving multiple agencies including the CBN, the Federal Ministry of Justice, the Nigerian Financial Intelligence Unit (NFIU) and the Economic and Financial Crimes Commission (EFCC).

The CBN’s contribution centred on enhancing supervision, governance, and transparency across the financial system. Key reforms assessed by the FATF and the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA, FATF’s regional assessment body, included:

  • Strengthened oversight of financial institutions through updated AML/CFT regulations, risk-based supervision, and fit-and-proper assessments.
  • Expansion of compliance reporting and monitoring across remittance channels, bureaux de change, and fintech platforms to improve traceability and transparency.
  • Enhanced inter-agency data-sharing and enforcement coordination between the CBN, NFIU, EFCC, and law-enforcement bodies.
  • Implementation of market governance tools, including the Foreign Exchange Code (FX Code) and Electronic Foreign Exchange Matching System (EFEMS). Together, these measures have materially strengthened Nigeria’s compliance with global standards and reinforced confidence in the integrity of its financial system.

Nigeria’s removal from the grey list will yield tangible benefits for businesses and households alike including – lowering compliance costs, improving access to international finance, and making cross-border transactions faster and more affordable.

In time, these gains will translate into smoother trade settlements, quicker remittance inflows, and even more predictable access to foreign exchange – enhancing livelihoods, supporting enterprise growth, and deepening financial inclusion.

The FATF decision reinforces the broader restoration of global confidence in Nigeria’s economic management. Recent international assessments underscore this momentum, with Moody’s and Fitch upgrading Nigeria’s ratings outlook on the back of stronger external balances, credible policy execution, and renewed monetary-policy credibility.

Similarly, the IMF’s 2025 Article IV Consultation highlighted improved reserve adequacy, greater transparency, and a reform agenda increasingly aligned with global standards. Commenting on the announcement, Governor Olayemi Cardoso said: “The FATF’s decision to remove Nigeria from the grey list is a strong affirmation of our reform trajectory and the growing integrity of our financial system. It reflects a clear policy direction and the coordinated efforts of key national institutions working together to deliver sustainable, standards-based reforms. Our priority now is to consolidate these gains, ensuring that compliance, innovation, and trust continue to advance hand in hand to reinforce financial stability and strengthen Nigeria’s global credibility.”

Nigeria joins South Africa, Mozambique and Burkina Faso as the latest African countries to achieve this milestone, reflecting broader progress across the continent.

The CBN remains committed to strengthening collaboration with domestic and international partners to sustain a sound, transparent, and trusted financial system that safeguards financial stability and market integrity while advancing inclusive and sustainable economic growth.

 

Tinubu Sacks Service Chiefs

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President Bola Ahmed Tinubu has sacked the service chiefs headed by General Christopher Musa as Chief of Defence Staff. The new CDS is now General Olufemi Oluyede.

Equity Trading on Nigerian Exchange Surges 115% as Reforms Draw Foreign, Domestic Investors

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Transactions by domestic and foreign investors on Nigerian Exchange (NGX) more than doubled in the nine months of 2025, reaching ₦8.54 trillion a 115.2% increase from ₦3.97 trillion recorded in the same period of 2024.

According to NGX’s latest Domestic & Foreign Portfolio Participation in Equity Trading report, the surge marks a record high for total market activity, buoyed by stronger participation from Pension Fund Administrators (PFAs) and high-net-worth domestic investors.

Foreign portfolio investors (FPIs) accounted for ₦1.84 trillion of total trades, a 164% year-on-year rise from ₦696.9 billion a year earlier, while domestic investors contributed ₦6.7 trillion, up 104.7% from ₦3.27 trillion in 2024.

Foreign investors represented 21.6 per cent of total market activity during the period, up from 17.6% a year earlier. Domestic investors, while still dominant, saw their share ease slightly to 78.4% from 82.4%

Within the domestic segment, institutional investors led activity with ₦4.09 trillion, compared with ₦2.6 trillion from retail participants. Foreign transactions were strong on both the buy and sell sides. Inflows climbed 231% year-on-year to ₦1.03 trillion, while outflows rose 110% to ₦810.4 billion.

Over an 18-year horizon, NGX data shows domestic transactions have grown by 33% from ₦3.56 trillion in 2007 to ₦4.73 trillion in 2024, while foreign transactions rose 38% from ₦616 billion to ₦852 billion.

David Adonri, Vice Chairman of The Board at Highcap Securities Ltd says the rebound in foreign participation reflects renewed confidence following reforms in Nigeria’s foreign exchange regime by the Central Bank of Nigeria (CBN). The changes, aimed at improving transparency and stability in currency markets, have been credited with enhancing liquidity and reducing uncertainty for foreign investors.

“The surge underscores growing optimism about Nigeria’s reform trajectory and corporate resilience,” said one Lagos-based analyst. “The combination of exchange rate realignment, strong earnings, and the ongoing banking recapitalisation drive is making local equities increasingly attractive.”

The Nigerian capital market has benefited from the momentum of President Bola Tinubu’s economic reforms, with improved clarity around monetary policy and renewed interest in Nigeria’s oil and non-oil sectors bolstering investor sentiment.

Stanbic IBTC Insurance Unveils Manifold Endowment Plan to Stakeholders at Media Engagement

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L-R: Akinjide Orimolade, Chief Executive, Stanbic IBTC Insurance; Wole Adeniyi, Chief Executive, Stanbic IBTC Bank; Titi Ogungbesan, Executive Director, Business Development at Stanbic IBTC Insurance; Dr Julius Odidi, representative of the Commissioner for Insurance; Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers; and Prince Babatunde Oguntade, President, Nigerian Council of Registered Insurance Brokers (NCRIB), during the media launch of Stanbic IBTC Insurance’s Manifold Endowment Plan held recently in Lagos. 

Stanbic IBTC Insurance, a subsidiary of Stanbic IBTC Holdings, hosted a media parley in Lagos, bringing together journalists and key stakeholders in the insurance industry for an engaging session on the future of insurance in Nigeria.

The event highlighted the company’s commitment to open dialogue, transparency, and collaboration as it continues to redefine the role of insurance in everyday financial planning.

The media parley served as a platform for robust conversations around the challenges and opportunities shaping the sector, particularly in building greater trust, deepening awareness, and delivering value-driven products to customers. Participants also explored the importance of collaboration between insurers, regulators, the media, and other stakeholders to foster a more inclusive and sustainable industry.

In his remarks, Akinjide Orimolade, Chief Executive of Stanbic IBTC Insurance, highlighted the company’s appreciation for the media’s critical role in shaping perceptions and driving education on insurance. He said:

“The media are vital partners in helping us demystify insurance and foster a culture of protection and planning among Nigerians. This parley was not just about sharing what we are doing as a company, but about engaging in dialogue, listening to feedback, and strengthening the partnerships that will move our industry forward.”

The session also provided an opportunity for Stanbic IBTC Insurance to share updates on its new product unveiling: Manifold Endowment Plan. This is a flexible life assurance product that combines protection with financial empowerment. The plan, designed to help Nigerians prepare for life’s uncertainties while achieving long-term goals, reflects the company’s focus on customer-first solutions.

The Special Guest of Honour in attendance at the media parley was Dr. Julius Odidi, representative of the Commissioner for Insurance/CEO of the National Insurance Commission, Mr. Olusegun Ayo Omosehin; other guests in attendance at the media parley included Prince Babatunde Oguntade, President, Nigerian Council of Registered Insurance Brokers (NCRIB); Mr. Tope Adaramola, CEO, Nigerian Council of Registered Insurance Brokers (NCRIB); Barrister Odion Aideloje, representative of the President, Institute of Loss Adjusters of Nigeria (ILAN); Mrs Abimbola Onakomaiya, MD, Peakthrust Insurance Brokers and President, Professional Insurance Ladies Association amongst others.

During her address, Abimbola Onakomaiya, MD, Peakthrust Insurance Brokers/ President of the Professional Insurance Ladies Association and a seasoned expert with over 40 years in the insurance industry, praised the Manifold Endowment Plan, stating, “This product is exceptionally well-designed, offering flexible premium options suitable for various social and financial backgrounds.”

She highlighted some of its key benefits, including the ability to make partial withdrawals during the policy term. The option to withdraw 25% of the sum assured twice within the policy period is particularly advantageous. In today’s context, many couples prefer to have fewer children, often planning for their education and utilising partial withdrawals to support their schooling when needed. Overall, I believe this is an excellent policy.”

Prince Babatunde Oguntade, President of the Nigerian Council of Registered Insurance Brokers (NCRIB), applauded Stanbic IBTC Insurance for innovative thinking with the birth of the Manifold Endowment Plan and for providing a platform that promotes transparency and trust within the sector. He noted, “Manifold Endowment Plan” offers hope and reliability. He highlighted the importance of the two-year surrender value period, saying, “It’s realistic and encourages continued interest in life insurance policies.” Babatunde assured support from brokers, stating, “We will actively promote this initiative and collaborate for future success.

Representing the Commissioner for Insurance, Dr. Julius Odidi emphasised the significance of the Manifold Endowment Plan, stating, “While endowment plans are well known, Stanbic IBTC Insurance’s Manifold Endowment Plan stands out as an innovation worthy of emulation. I hope it inspires other industry players to remain committed to innovative products that continually meet the evolving needs of clients, bringing satisfaction to all Stakeholders.” He concluded enthusiastically, saying, “The Commission support this official launch and unveiling of Stanbic IBTC Insurance’s Manifold Endowment Plan.”

Stakeholders at the parley commended Stanbic IBTC Insurance for creating an avenue for open engagement and for taking the lead in bridging the gap between the insurance industry and the public. Discussions touched on practical ways the sector can simplify processes, improve claims management, and deploy technology to enhance accessibility and trust.

The Manifold Endowment Plan is a timely response to Nigeria’s growing demand for transparent, flexible, and rewarding insurance solutions.

With Manifold Endowment Plan, you can enjoy:

  • Life cover and Disability benefit of up to ₦1 billion
  • Flexible policy terms ranging 6, 9,12 and 15 years
  • Two tranches of 25% periodic partial withdrawals before maturity
  • 100% payout of the chosen sum assured at maturity
  • Accidental medical expenses coverage benefits to the tune of ₦50,000 per year.
  • 2% payout rate at maturity
  • Minimum premium amount of ₦10,000 monthly
  • Maximum entry age is 64 years.

Waiting Period

There is no waiting period in the event of accidental death.

However, a six (6) month waiting period applies during which no benefits are payable for the following:

  • Non-accidental death of the Life Assured/Policyholder
  • Accidental Total Permanent Disability

If any of the above-mentioned events occur within the waiting period, the total premium paid, less any expenses incurred, will be refunded to the policy holder.

Stanbic IBTC Pension Managers Champions Flexible Pension Options for Nigerians at Home, Abroad

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Stanbic IBTC Pension Managers Limited, a subsidiary of Stanbic IBTC Holdings PLC, has reaffirmed its support for the National Pension Commission’s (PenCom) recent reforms aimed at enhancing flexibility, inclusion, and global access within Nigeria’s pension system.

The new regulatory guidelines introduce two distinct pension options, the Personal Pension Plan (PPP) and Foreign Currency (FCY) Pension Contributions, both designed to empower individuals to save for retirement in ways that reflect their evolving work patterns and income sources.

The Personal Pension Plan (PPP), formerly known as the Micro Pension Plan, allows self-employed individuals, and informal sector workers to build retirement savings at their own pace. It also enables 9-5 employees in the formal sector to make additional voluntary contributions beyond the mandatory scheme. Through the PPP, participants can contribute as they earn, make partial withdrawals (50%) after three months of initial deposit when needed, and enjoy flexible investment options suited to their financial goals. Contributions are tax-free after five years, and participants can choose between conservative and growth investment funds for better control of their savings.

Complementing this is the Foreign Currency (FCY) Pension Contributions framework, which enables Nigerians earning in foreign currency, both those living abroad and those residing in Nigeria, to make pension contributions in United States Dollars (USD).

This structure allows contributors to safeguard their savings against currency depreciation and access a wider range of global investment opportunities such as Eurobonds, Global Depository Notes, and Exchange Traded Funds.

Withdrawals can be made after six months from the contingent portion of the account, while long-term balances are preserved for retirement. Benefits are payable in USD or converted to Naira at the contributor’s request.

Speaking on the development, Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers, commended PenCom’s forward-thinking approach to broadening participation and accessibility in the pension industry.

He said: “These enhancements reflect the evolution of Nigeria’s workforce and the increasing global mobility of Nigerians. Stanbic IBTC Pension Managers will continue to help individuals, whether self-employed, salaried, or earning in foreign currency, take full advantage of these opportunities through expert guidance, transparent processes, and a seamless digital experience.”

Olumide added: “The company’s focus is on promoting financial inclusion, trust, and lifelong retirement planning, ensuring that more Nigerians can participate in the pension system regardless of where or how they earn.”

With over two decades of leadership in the pension industry, Stanbic IBTC Pension Managers continues to align its service offerings with PenCom’s vision for a more inclusive, technology-driven, and globally competitive pension landscape.

Lasaco Assurance Reports N13.19bn Claims Payment, 25% Revenue Growth in 2024

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L-R: Deputy Managing Director, Corporate Service, Lasaco Assurance Plc, Mr. Rilwan Oshinusi; Executive Director, Technical, Ademoye Shobo; Director, Ademola Oshodi; Director, Biodun Dosunmu; Company Secretary, Mrs. Gertrude Olutekunbi; Chairman, Mrs. Maria Olateju Phillips; Managing Director, Razzaq Abiodun; Director, Fola Tinubu; and Non-Executive Director, Tobi Lawal, during the company’s 25th Annual General Meeting (AGM) held in Lagos. 

Amid Nigeria’s challenging macroeconomic environment, Lasaco Assurance Plc has reaffirmed its commitment to policyholder trust and financial prudence with a total claims payout of ₦13.19 billion in 2024.

Speaking at the company’s 25th Annual General Meeting (AGM) held in Lagos, the Chairman, Mrs. Maria Olateju Phillips, said the claims expenditure underscores Lasaco Assurance’s dedication to fulfilling its obligations and supporting customers in times of need.

“Our ability to settle N13.19 billion in claims despite the prevailing economic headwinds reflects the strength of our balance sheet, prudent risk management, and unwavering focus on customer satisfaction,” she stated.

The Chairman noted that Lasaco Assurance demonstrated remarkable resilience and operational strength during the financial year, with insurance revenue rising to N22.82 billion in 2024, a 25% increase from N18.29 billion in 2023. The company also recorded a Profit After Tax (PAT) of N1.54 billion, representing an 18% growth over the previous year’s N1.31 billion.

She explained that the company’s strong performance was driven by market penetration initiatives, improved customer engagement, and disciplined cost optimization.

Despite rising regulatory costs and inflationary pressures, Lasaco’s total assets expanded to N30.94 billion, reflecting a 13% year-on-year growth, thereby reinforcing its liquidity and capacity to meet policyholder obligations.

In a move to strengthen its capital base and enhance competitiveness within the insurance industry, the company raised N11.1 billion through a private placement, adding 9.25 million new shares to its existing shareholding structure.

Looking ahead, Mrs. Maria Olateju Phillips outlined the company’s strategic outlook for 2025 and beyond, emphasizing innovation, digital transformation, and sustainability as key growth drivers.

She said Lasaco Assurance is investing in advanced software and omnichannel customer engagement tools to enhance service delivery, while also expanding retail insurance offerings through targeted products and strategic partnerships.

“We are not merely adapting to the future; we are defining it,” she affirmed. “With a clear vision, a strong financial base, and an unwavering commitment to excellence, Lasaco Assurance Plc is poised to set new benchmarks in Nigeria’s insurance industry.”

The Chairman expressed appreciation to shareholders, regulators, employees, and clients for their continued trust and support, assuring them that the company remains steadfast in its mission to create sustainable value and deliver on its promises.

 

 

Stanbic IBTC, Zenith, Axa Mansard, Leadway, MTN, GLO Lead Q3 2025 Brand Report

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As Nigeria’s media environment continues to evolve, brand sentiment has emerged as a key indicator of reputation, revealing how corporate narratives influence public confidence, trust and market perception.

A new report by P+ Measurement Services, Nigeria’s leading independent media intelligence consultancy, provides a data-backed analysis of how reputational factors shaped public narratives across the banking, insurance and telecommunications sectors in the third quarter of 2025.

The Q3 2025 Sentiment Report draws insights from over 1.3 million online publications, including news platforms, financial websites, forums, and blogs, alongside approximately 2,100 print publications across daily, weekly, and monthly editions.

Using a sentiment-based evaluation framework, the study identifies how tone, visibility, and perception influenced brand equity across major industries.

Commercial Banking: Innovation, CSR, and Financial Stability Drive Positive Visibility

Nigeria’s banking sector recorded a strong positive sentiment profile in Q3 2025, largely shaped by innovation, governance, and social impact initiatives.

Stanbic IBTC Bank led with 26% positive sentiment, boosted by its ₦800 million loan facility from the China Development Bank and recognition as West Africa’s Best Trade Finance Bank, both of which strengthened investor confidence.

Zenith Bank followed with 23%, supported by its 35th anniversary celebrations, EuroMoney Award for Excellence, and sustained media coverage highlighting corporate stability.

Fidelity Bank sustained 19% positive sentiment through community-driven CSR projects such as solar-powered school bag donations and food relief programmes, aligning profitability with purpose.

FirstBank achieved 17%, driven by financial inclusion campaigns and partnerships promoting digital accessibility, while FCMB recorded 15%, buoyed by initiatives supporting women entrepreneurs and sustainable finance.

However, reputation risks persisted. UBA accounted for 36% of negative sentiment, linked to reports of fire incidents, regulatory scrutiny, and operational disruptions.

Zenith Bank followed with 21%, tied to customer service complaints and system downtime, while Union Bank (18%) and Sterling Bank (16%) faced ownership transition issues and digital service challenges, respectively. Ecobank recorded 9% negative sentiment, reflecting compliance-related concerns.

Insurance: Advocacy, Performance and Market Perception Shape Reputation

Sentiment in the insurance industry reflected a more complex mix of public advocacy, market discipline, and investor confidence.

AXA Mansard Insurance emerged as the most visible brand, with 37% positive sentiment, driven by its gender advocacy campaign involving 900 employees and recognition as Insurance Company of the Year.

Leadway Assurance followed with 29%, supported by partnerships with Ecobank and state governments on climate-resilient insurance initiatives. AIICO Insurance (14%) maintained visibility through annuity engagement and sustainability-focused programmes, while Stanbic IBTC Insurance Limited (11%) deepened post-retirement trust through retirees’ engagement forums. SanlamAllianz Nigeria Insurance (9%) reinforced its youth-focused positioning through storytelling and essay competitions.

Negative sentiment was largely market-driven. AXA Mansard recorded 69% negative sentiment following reports of a sharp half-year financial decline and its perceived role in the NGX downturn. AIICO Insurance accounted for 31%, tied to investor caution and sell-offs within the insurance index. In contrast, Leadway Assurance, Stanbic IBTC Insurance, and SanlamAllianz maintained zero negative sentiment, underscoring strong communication, governance and proactive reputation management.

Telecommunications: Innovation and Infrastructure vs. Service Reliability

Nigeria’s telecommunications sector continued to attract significant media attention, balancing innovation-led visibility with persistent concerns about service reliability.

MTN Nigeria led with 47% positive sentiment, driven by its $120 million data centre launch and its entertainment collaboration with Ultima Studios on The Next Afrobeats Star, both reinforcing its digital inclusion and youth engagement agenda.

Globacom followed with 24%, buoyed by its 22nd anniversary celebrations, infrastructure expansion, and the introduction of a device protection service enhancing customer retention.

T2 (formerly 9mobile) achieved 16%, supported by its rebranding and repositioning drive, while Airtel Nigeria recorded 13%, reflecting growing confidence in its 5G rollout and broadband expansion projects.

On the negative side, MTN Nigeria also dominated unfavourable coverage with 68% negative sentiment, tied to regulatory penalties over unsolicited caller tunes and fibre cuts disrupting nationwide connectivity. T2 (9mobile) followed with 16%, facing backlash for network issues, while Globacom recorded 14%, linked to subscriber losses and legal disputes. Airtel Nigeria stood out with only 2% negative sentiment, signalling operational resilience and customer satisfaction stability.

Strategic Insight: Reputation is the New Balance Sheet

The Q3 2025 sentiment outlook underscores a clear divide between organisations that sustained trust through innovation, transparency, and stakeholder engagement, and those whose reputations were challenged by regulatory, operational, or service setbacks.

According to P+ Measurement Services, long-term reputational resilience in Nigeria’s corporate landscape will depend on three key factors:

  • Credibility – Consistent and transparent communication.
  • Responsiveness – Timely management of public and media narratives.
  • Reformability – Turning challenges into opportunities for renewed trust.

As the firm notes, “Reputation is no longer a soft metric, it is a measurable, strategic asset that directly impacts market confidence and business continuity.”

About P+ Measurement Services

P+ Measurement Services is Nigeria’s foremost independent media intelligence consultancy and a member of the International Association for the Measurement and Evaluation of Communication (AMEC).

The firm provides end-to-end solutions in media monitoring, sentiment analysis, and performance auditing for corporations, public institutions, and PR consultancies.

 

FSI, Mentors Without Borders Launch Tech Mentorship Program at Thomas Adewunmi Varsity

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Financial Services Innovators (FSI), in partnership with Mentors Without Borders (MWB), has announced the launch of a six-month Tech Mentorship Program at Thomas Adewunmi University (TAU) in Kwara State.

The initiative aims to upskill 50 students in high-demand technology fields and enhance their global employability.

Building on the successful collaboration that established the FSI Virtual Innovation Lab at TAU, this new mentorship program marks another milestone in FSI’s commitment to empowering young African innovators with practical digital skills.

The program will provide hands-on training and mentorship in the following fields:

  • Web Development
  • Machine Learning
  • AI Product Management
  • Project Management
  • Digital Marketing
  • Technical Sales Support

Designed to bridge the gap between theoretical learning and industry application, participants will work on real-life projects that can be added to their professional portfolios.

The program also connects students to mentors drawn from top global technology firms, including Microsoft, Google, and Atlassian, among others.

In support of the program, Mentors Without Borders has donated five laptops, ten Logitech H390 USB Computer Headsets, and a Starlink internet setup with a six-month subscription to the university’s computer lab. The total value of the program—including equipment and mentorship support—is estimated at ₦53 million, with ₦3 million in direct donations.

“This initiative represents our vision to build a strong pipeline of skilled tech talent across African universities,” said Aituaz Kola-Oladejo, Executive Director of Financial Services Innovators (FSI).

“Thomas Adewunmi University has shown exceptional commitment to innovation, and we are proud to pilot this transformative mentorship program here.”

“Our partnership with FSI has already shown how much we can achieve together when we focus on creating real opportunities for young people,” added Edmond Pruteanu, Founder & Executive Director of Mentors Without Borders. “Building on that success, we’re now excited to expand our work in Nigeria through a new collaboration with Thomas Adewunmi University. Nigeria has one of the most creative and ambitious young generations in Africa, and we’re proud to support them as they grow their tech skills and confidence for the future.”

Prof. Francisca Oladipo, Vice Chancellor of TAU, welcomed the partnership, emphasising its alignment with the university’s mission to nurture future-ready graduates.

“At TAU, we believe that education must be relevant and responsive to today’s global digital economy. This partnership will give our students direct exposure to international mentors, practical tools, and industry perspectives,” she said.

The MWB Mentorship Program at TAU will serve as a pilot initiative, with plans to expand to other universities across Nigeria and Africa upon successful completion.

About Financial Services Innovators (FSI)
FSI is a non-profit organisation that drives innovation and collaboration across Africa’s financial and technology ecosystem through programs, partnerships, and innovation labs, empowering startups, students, and developers to solve real-world challenges.

About Mentors Without Borders (MWB)
MWB is a Europe-based organisation that connects expert mentors with young professionals and students worldwide to promote global skill development, digital inclusion, and professional growth.

The Trouble with Nigeria’s Healthcare System

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By Michael Owhoko, Ph.D

The quality of a country’s healthcare system is a mirror image of its leaders’ commitment to citizens’ health.  Countries like Singapore, Japan, South Korea and Switzerland are among the world’s top countries with best healthcare for citizens, driven majorly by robust funding and well-structured policy programme.

Leaders in these countries do not go to foreign countries for medical tourism, as they have absolute confidence in the delivery capacity of the healthcare system.

But in Nigeria, the healthcare system is fraught with dysfunctionality, forcing elasticity of reliability southward.

Poor health facilities, unprofessionalism, unethical standards, weak regulatory agencies, bad personnel attitude, questionable health insurance schemes, unreliable health management organisations (HMOs), mismanagement, corruption, fake drugs and obsolete equipment are incidental to lack of commitment by Nigerian leaders to efficient and quality healthcare system.

Though, this is a symptom of greater disorders in Nigeria, poor funding and non-utilisation of health facilities by the ruling elites undermine efficiency, quality and delivery capacity of the healthcare system.  Why will leaders not trust and utilise the healthcare system they have built, equipped and made available to the people through funding?  When food is served to public by a provider who has no intention of eating, there is high probability that quality and hygiene may be compromised.

In the 2025 federal government budget, only N2.56 trillion was budgeted for the health sector, representing 5.15 percent of the country’s total budget of N49.7 trillion, which is far below the 15 percent recommended by the Abuja Declaration, to which Nigeria is a signatory.

Though the N2.56 trillion is an increase of about 58.53 percent of the 2024 budget of N1.62 trillion, however, when viewed in dollar terms, the amount decreased by 15.45 percent, dropping to $1.7 billion from $2.02 billion.

Since the famous coup speech of Late General Sanni Abacha on December 31, 1983 that the country’s health services were in shambles, and hospitals had been reduced to mere consulting clinics without drugs, water and equipment, the health sector has not shown promises of improvement.

Even 34 years after, the wife of Late President Muhammadu Buhari, Aisha, confirmed this in 2017 when she resorted to use of a private hospital wholly owned and run by foreigners due to dysfunctional x-ray machine and lack of syringes in the Villa Clinic.

Unfortunately, 42 years after these observations were made by the powers that were, the healthcare sector is still defined by lack of government’s commitment.  This is particularly worrisome when viewed against the background of Nigeria’s growing population, currently characterised by low life expectancy, high maternal and child mortality rates.

This means that dependable and quality healthcare provision is not a priority for government, and therefore, a mirage for Nigeria to achieve high quality healthcare in line with World Health Organisation (WHO)’s standard.

Globally, Nigeria is ranked 157th out of 191 countries by WHO in the areas of quality health delivery performance. As the largest oil producer in Africa and 16th largest in the world, it is untenable for Nigeria not to provide robust funding for the health sector, given the country’s huge earnings from crude oil sales.

Even among African countries, Nigeria is rated poorly in healthcare provision.

In a report released by The Legatum Institute, a London-based global healthcare assessment organization, Nigeria was ranked 11th out of 12 African countries with poor healthcare system.  The countries include Central African Republic, South Sudan, Chad, Lesotho, Somalia, Sierra Leone, Swaziland (Eswatini), Liberia, Guinea, Angola, Nigeria and Equatorial Guinea.

Despite this poor performance ranking, no concerted effort is being made by government to improve quality service delivery, as budget allocation to the health sector has been on the downward swing.

Since Nigerian leaders who determine the condition of the sector, do not utilise the facilities due to poor services, it means the Nigerian healthcare system is designed to service the health needs of the poor and common Nigerians, and not Nigerian leaders.

Put differently, the healthcare system in Nigeria is determined and conditioned by the thought process and preferences of those who do not use the services.

For example, the President of the Federal Republic of Nigeria and his cabinet members, including the Minister of Health, together with the Senate President and members of the Legislature, who approve the nation’s tertiary healthcare budget, do not patronize services of Nigerian hospitals.

State governors and their cabinet members, as well as members of the state houses of assembly responsible for approval of budget for secondary healthcare in the country, also, do not patronise health facilities at this level.

Same applies to the various local government chairmen and council members whose jurisdiction cover primary healthcare. They all seek better healthcare outside their domains.

The poor premium placed on the health sector by Nigerian leaders have obviously prevented them from knowing that there is a correlation between robust funding of healthcare system and a healthy workforce, and by extension, robust economy.

A vibrant economy is contingent upon a healthy population and a healthy workforce, as health is a critical contributory factor to economic development.  This is the reason advanced economies invest so much in healthcare services, a contrast to Nigeria’s healthcare sector that is troubled by incapacity, unable to address mounting health challenges in the country.

The healthcare delivery system in Nigeria is executed through public and private facilities.  Unfortunately, the private healthcare providers are also enmeshed in unprofessional conduct driven by pecuniary motive.  Most of them take advantage of the country’s weak systemic policies to deliver poor health services. Regulatory authorities like the National Agency for Food and Drug Administration and Control (NAFDAC), National Health Insurance Authority (NHIA), and The Medical and Dental Council of Nigeria (MDCN) are not doing enough to enforce professionalism and standards in the country’s healthcare system.

I recently lost a friend to prostrate operation in one of the private hospitals in Lagos.  Prior to the operation, he walked into the hospital by himself, looking normal.  But what he took to be a proactive step to avoid future complications, ended his life.

He was admitted under a health insurance cover managed by an HMO on executive plan with full options.  But rapid deterioration of his health in the hospital triggered skepticism on whether quality of treatment was commensurate with subscribed insurance plan.

There are numerous public complaints about HMOs conniving with private hospitals to render inadequate and poor services for financial gains. Most of these hospitals deliberately delay diagnosis and treatment until approval is obtained from HMOs, notwithstanding conditions of patients and category of insurance plans. The NHIA which carries out accreditation of HMOs before approval must look beyond this process to ensure they are continually monitored during operations.

My late friend’s case reminded me of a professional colleague, Mr. Yusuph Olaniyonu, who narrated how God spared his life and given another chance to live again at 58.

His story brought to fore, the ineptitude, inefficiencies, unprofessionalism and lack of commitment and management of patients in Nigerian hospitals. His experience also proved that without connection at the top, patients can die out of share negligence and abandonment without consequence.

After undergoing six major operations and three minor procedures for prostrate, his survival was still on a cliff edge, necessitating the intervention of the Minister of Health through the help of ThisDay Publisher, Nduka Obaigbena and former Senate President, Bukola Saraki.

This intervention notwithstanding, hopes dimmed, leading Saraki to fly him to Egypt where he underwent successful corrective surgical operations.

Olaniyony’s case casts aspersion on the entire medical system in Nigeria, and exposed the agony voiceless Nigerians go through in Nigerian health facilities.

Trust deficit induced by poor services in Nigerian hospitals, has given rise to patronage of unlicensed and quack herbal health practitioners whose activities are damaging vital organs of innocent Nigerians, with concomitant reduction in life expectancy.

It is depressing to know that out of about 34,000 general hospitals, 21,000 primary health centers and 60 teaching hospital and federal medical centers located across the country, only about 41,000 hospitals are functional.

Government must therefore reorder its priorities to make health facilities efficient, affordable and reliable to enable both leaders and poor Nigerians alike to receive treatment in-country, as against resort to medical tourism which cost Nigeria approximately $1.6 billion annually.

Dr. Mike Owhoko, Lagos-based public policy analyst, author, and journalist, can be reached at www.mikeowhoko.com, and followed on X {formerly Twitter} @michaelowhoko.

Sterling Bank Leads Africa’s Green Revolution with Agriculture Summit Africa 2025

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Africa’s agricultural rebirth gathers momentum as Agriculture Summit Africa (ASA) 2025, the continent’s foremost platform for advancing sustainable and inclusive agricultural transformation, returns under the bold theme ‘Survival of the Greenest: Reclaiming Africa’s Food Destiny.’

Scheduled for November 6–7, 2025, at the Transcorp Hilton, Abuja, ASA 2025 is set to spotlight financing pathways to drive sustainable growth in the agricultural sector.

Now in its eighth year and convened by Sterling Bank, the summit will bring together policymakers, agribusiness leaders, investors, and innovators from across Africa and beyond to explore innovative solutions to the continent’s agricultural challenges.

Furthermore, the event will foster collaboration and innovation, examining how green finance, digital tools, and climate-smart practices can transform Africa into the world’s next agricultural powerhouse.

Addressing attendees at the press conference to announce plans for the summit, Abubakar Suleiman, Managing Director and Chief Executive Officer of Sterling Bank, emphasised the Bank’s purpose for convening the summit, noting that, “At Sterling, we believe Africa’s food future will be secured not by chance but by deliberate, collective effort.”

“Our commitment is rooted in the conviction that agriculture is central to Africa’s transformation, socially, economically, and environmentally. ASA 2025 is a platform that has galvanised this transformation by uniting policymakers, innovators, and investors around one shared goal: reclaiming Africa’s food destiny through sustainability and innovation.”

With over 60% of the world’s uncultivated arable land and a rapidly growing population, Africa holds immense potential to become a global agricultural powerhouse.

However, productivity challenges, limited access to finance, and the escalating impacts of climate change continue to hinder food security. ASA 2025 will leverage multi-sector partnerships and policy alignment to accelerate the continent’s transition from dependence to self-sufficiency.

“This year’s theme, ‘Survival of the Greenest,’ underscores both the urgency and the unique opportunity before us,” commented Olushola Obikanye, Group Head, Agric Finance and Solid Minerals at Sterling Bank. “Africa’s food future lies in sustainability, innovation, and collaboration.

ASA provides a platform where governments, financiers, innovators, and farmers can engage meaningfully to design solutions that strengthen agricultural value chains, unlock financing, and foster inclusion. Agriculture is not just an economic imperative; it is the heartbeat of Africa’s transformation,” he added.

The two-day event will host delegates from over 30 African countries, providing valuable opportunities for networking, policy engagement, and investment facilitation among agribusinesses, innovators, and financiers enabling access to capital.

The event will also feature high-level panels, keynote addresses, policy dialogues, exhibitions, and an Investment Deal Room (a marketplace designed to connect investors with viable agribusiness ventures and initiatives).

Sunbeth Global Concepts, a global agro-commodities sourcing and trading company, will co-convene the summit, contributing its expertise in agribusiness strategy, capacity building, and development partnerships.

Eyitemi Adebowale, Head of Corporate Affairs and Communications at Sunbeth, spoke to the company’s commitment to sustainable agriculture, saying, “We are proud to co-convene ASA 2025 because we believe the future of Africa’s development is rooted in sustainable agriculture. Through this summit, we aim to spotlight solutions that empower farmers, attract investment, and promote climate-smart practices that build resilience across the continent.”

With strategic partners including Mastercard, which will lead discussions on digital tools for agricultural transformation, ASA 2025 is poised to ignite a movement toward innovation and financial inclusion within the agricultural sector.

Other key sponsors and partners include the International Finance Corporation (IFC), The Alternative Bank, Arzikin Noma, ONE Foundation, Noor Takaful, Bühler, and many others.

About Agriculture Summit Africa (ASA)

Agriculture Summit Africa (ASA) is the continent’s foremost platform for advancing agricultural innovation, investment, and sustainability. It brings together leaders from government, business, and development sectors to foster collaboration, share insights, and drive action toward a resilient, inclusive agricultural future for Africa.

About Sterling Bank Limited

Sterling Bank Limited is a full-service national commercial bank in Nigeria and a member of Sterling Financial Holdings Group. With a heritage of over 60 years, the bank has evolved from Nigeria’s pre-eminent investment banking institution to a trusted provider of retail, commercial, and corporate banking services.

Sterling is a forward-thinking financial institution committed to transforming lives through innovative solutions, exceptional service, unwavering integrity, and a steadfast focus on its HEART strategy, which centers on Health, Education, Agriculture, Renewable Energy, and Transportation.

As pioneers in digital banking and financial inclusion, Sterling continues to lead by example, showing how purpose-driven leadership can deliver transformative outcomes for individuals, businesses, and society at large.

Guided by a culture of innovation and a passion for excellence, Sterling Bank remains dedicated to redefining the banking experience for millions of customers across Nigeria.