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Businessman, Ajose, Donates Materials to APC for Continuous Voters Registration Exercise

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As part of efforts to support the rulling All Progressives Congress (APC) in the ongoing Continuous Voters Registration (CVR) exercise by the Independent National Electoral Commission, INEC, Lagos businessman and philanthropist, Mr. Samuel Mawuyon Ajose has hit the ground running by donating logistics materials to the 57 LGA chairmen of the APC in Lagos State to ease the exercise that started recently.

The presentation was made shortly after a brief meeting with the 57 LGA chairmen at the prestigious Cathedral Church Primary School on Broad Street, Lagos Island.

Items presented to the chairmen included 57 HP desktop printers, 57 Lenovo Laptops, 57 Generators, 57 MTN wifi with subscription for 6 months, 57 Electric standing fans, 57 surge protector extension leads, 57 HP mouse and banner for public awareness for the registration.

The presentation came along with the donation of the sum of N200,000 to each LGA chairman for the mobilisation of those who will do the job for six months.

Speaking at the gathering, Ajose said that he did this because of the great job President Bola Ahmed Tinubu’s government is recording both at the federal and state levels, who he said will do more when he is reelected in 2027.

He stated that the secret of continuity is to win elections and that to win elections, the APC must record massive votes, saying that this can only be achieved, when members of the public have access to vote and that the means of voting is the PVC.

He added that this was why they wanted the people to get their PVCs and the reasons they were supporting the party with logistics and manpower.

Speaking further, he stated that people who have PVCs through the support of APC will be willing and happy to vote for the party and that this was why they were not just calling on members of the public to enroll in the exercise, but provide them with the means to ease the process at all cost.

Ajose said that he wanted to recruit more members for the APC, and that “we want the exercise to go to the grassroots, reach the common man and make a positive change in our society,” he said.

The 49-year-old philanthropist and an indigene of Badagry, Lagos State and CEO of Samuel Ajose Foundation, told newsmen that the awareness campaign and support is part of planning ahead for the victory of President Bola Tinubu in 2027 and that his victory can only come with massive and bulk votes so that he will continue the great job he started ranging from the Lagos-Calabar expressway, the approved seaport in Badagry and other big infrastructure and gigantic amenities across the nation.

He now appealed to members of the public across the 57 LGAs to go out in large number to utilise the opportunity by enrolling for their PVCs, which he said will also be useful to them in other areas apart from exercising their franchise.

Commenting on the exercise, the Chairman of the APC in Lagos State, Pastor Cornelius Ojelabi, who was ably represented by his Deputy, Hon. Moshood Mayegun, applauded Ajose for his love for the party, courage, sportsmanship and  dedication to the party and members of the public, saying, “truly, you are a member of our great party and your actions today have shown the undiluted love you have for the party and members of the public and you have written your name in gold in the hearts of the party members.”

Mayegun said that the party is so grateful with the materials and that it will be a smooth exercise in collaboration with what the INEC has provided and that it is a pathway to victory for the party in the coming polls.

In his acceptance speech, the Chairman of the Conference of 57 LGA Chairmen in Lagos State, Hon. Mayegun Dalley Adeokun and his Deputy, Hon. Rasheed Shobaloju, who spoke on behalf of others, thanked Ajose for the donations and promised that the materials will be used judiciously and that they will deliver on the mandate given to them.

The duo said his singular action would also strengthen the administrative capacity and competence of the 57 LGA party secretariat.

Records have it that Mr. Ajose, a notable philanthropist, contributed to the victory of the 15 APC chairmanship candidates from Badagry division as he gave them N10 million each. He also empowered 250 female traders in Badagry with N200, 000 each for growing their businesses, and he also donated another 18 million naira to support the capital base of the 57 LGA corporative society yesterday.

 

INEC began the continuous voters registration exercise on Friday, August 15.

LASAA Reaffirms Commitment to Fairness, Safety, Industry Growth

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Prince Fatiu Akiolu

MD, LASAA

Lagos State Signage and Advertisement Agency (LASAA) has responded to recent apprehensions suggesting a resurgence of heavy-handed regulation and arbitrary enforcement in the State’s outdoor advertising sector. While acknowledging the concerns, LASAA sought to reaffirm its commitment to regulatory fairness, industry professionalism and the sustainable growth of outdoor advertising in Lagos.

Refuting claims that LASAA intends to “wield the big stick,” the Agency drew attention to its longstanding practice of fostering dialogue and partnership with industry stakeholders.

Prince Fatiu Akiolu, Managing Director of the Agency stated, “The era of mutual suspicion is firmly behind us,” adding that the Agency “regularly convenes stakeholder fora, maintains cordial relationships with industry players, offers concessions such as discounts on vacant billboard charges and seeks stakeholders input before making major policy decisions.”

Prince Akiolu clarified that LASAA does not compete with private operators commercially. Instead, it manages a limited number of state-approved advertising structures primarily reserved to amplify government programmes, public awareness initiatives and regulatory oversight. These, with the Agency’s core mandate focusing on orderliness, public safety, and environmental aesthetics.

He said these efforts aim to serve the broader interests of Lagos residents and reiterated that the Agency’s core mandate remains the enforcement of orderliness, public safety and environmental aesthetics within the state.

On licensing, the Managing Director explained that stringent criteria ensure only qualified practitioners operate in the market. Addressing concerns about billboard oversupply, particularly around military and police formations where illegal structures are common, he noted that LASAA has imposed a moratorium on new registrations and permits since early 2025. “This moratorium intends to uphold industry integrity and elevate professional standards.”

Prince Fatiu explained that, “the Agency’s Health and Safety team actively verifies that outdoor installations meet engineering and safety benchmarks to mitigate risks to life and property.”

He noted that LASAA’s regulatory approach is primarily preventive rather than punitive and relies on monitoring, early warnings and corrective interventions, with enforcement used only when absolutely necessary.

Acknowledging ongoing challenges such as violations of spacing, setback and structural regulations, the MD attributed these mainly to lapses in operator compliance rather than regulatory overreach. He urged stakeholders, including the Outdoor Advertising Association of Nigeria (OAAN) and licensed professionals, to strengthen self-regulation and collaborate in reporting infractions to enhance Lagos’s safety, visual appeal and economic vibrancy.

To prevent a relapse into disorder, LASAA has launched a comprehensive enforcement and cleanup operation targeting unlawful advertising installations to restore urban order and protect public interests. Prince Fatiu stressed the essential role outdoor advertising plays in defining Lagos’s visual identity and called for responsible industry stewardship.

He reiterated LASAA’s commitment to maintaining a balanced regulatory framework that ensures oversight while supporting industry sustainability. This approach aims to create a transparent environment that safeguards investments and enhances the city’s aesthetics.

The Managing Director reassured the public and outdoor advertising professionals that LASAA’s mandate is not to stifle growth or punish legitimate operators but to ensure a fair, regulated and sustainable outdoor advertising sector in Lagos. He reaffirmed his dedication to nurturing an environment that protects investments, safeguards the public and enhances the beauty of Lagos.

 

Fidelity Bank to Convene Strategic Panel on Export Financing at FNITCC Atlanta 2025

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As part of its ongoing commitment to expanding Nigeria’s footprint in global trade, leading financial institution Fidelity Bank Plc has announced it will host a high-level panel session at the upcoming Fidelity Nigeria International Trade and Creative Connect (FNITCC) in Atlanta, Georgia, USA.

Themed “Financing For Scale – Unlocking Capital For Global Export Competitiveness,” the session will take place on Friday, 19 September 2025, and will feature top executives and thought leaders from across Nigeria’s financial and entrepreneurial landscape including: Mustafa Chike-Obi, Chairman, Board of Directors – Fidelity Bank Plc and a veteran investment banker; Olasunkanmi Owoyemi, Group MD/CEO – Sunbeth Global Concept Nigeria Limited, a leading voice in agribusiness exports; Efe Ukala, Founder – ImpactHer and a champion for women-led enterprises who has empowered thousands of African female entrepreneurs through access to capital and global market linkages; and Abba Bello, Managing Director – Nigeria Export-Import Bank (NEXIM), Nigeria’s foremost export credit agency, providing critical financing and risk mitigation tools for exporters.

“Unlocking the right kind of funding is like planting seeds for growth—without access to finance, even the most outstanding businesses and creative brands will struggle to scale, compete, and sustain themselves in global markets,” said Isaiah Ndukwe, Divisional Head, Agric. and Exports, Fidelity Bank Plc, in a media chat.

FNITCC serves as a bridge to close this gap. The inaugural edition in London in 2022 hosted over 100 Nigerian exhibitors and 90+ speakers, attracting more than 1,000 daily visitors and culminating in deals worth approximately US$200 million. The 2023 edition in Houston raised the bar with over 160 participating businesses and closed deals including a US$40 million pre-export finance agreement for cocoa, in partnership with AFREXIM Bank and local exporter JohnVents Industries.

The panel will address the urgent need for accessible and scalable financing solutions to boost Nigeria’s global trade competitiveness; and will explore topics such as: Financing models for SMEs and exporters,   Role of DFIs and commercial banks, De-risking strategies for export ventures; and Diaspora investment opportunities.

“These events underscore that targeted market access, paired with financing support, can launch Nigerian brands onto the global stage—delivering jobs, income, and international recognition,” Ndukwe added.

Hosted in partnership with AFRICON—the premier gathering for global African cha/ngemakers, tastemakers, and innovators—FNITCC Atlanta will take place from 18 to 20 September 2025 at the Omni Atlanta Hotel, Centennial Park, Georgia, USA. The event is projected to attract over 3,000 participants and facilitate more than US$400 million in trade, investment, and partnership deals.

Interested businesses and participants are encouraged to register for the conference at www.fidelitybank.ng/fnitcc.

Fidelity Bank Plc is a full-fledged commercial bank with over 9.1 million customers who are serviced across its 251 business offices and various digital banking channels in Nigeria and the United Kingdom.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.

Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

Polaris Bank, NCF Partner on Tree-Planting Drive to Combat Carbon Emissions in Rivers

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Polaris Bank has partnered with the Nigeria Conservation Foundation (NCF) to launch a tree-planting initiative in Rivers State.

The exercise, held at Bodo City Girls Secondary School in Gokana Local Government Area, is part of efforts to combat carbon emissions and promote sustainable environmental practices.

Speaking at the event, Polaris Bank’s Divisional Head for South-South, Mr. Raphael Abiaziem, represented by Mr. EjikeAroh, Business Development Manager of Garrison Branch, underscored the project’s importance in advancing the Bank’s sustainability agenda.

He said the initiative aligns with the United Nations Decade on Ecosystem Restoration and reinforces the Bank’s commitment to environmental, social, and governance (ESG) priorities.

“This project is not just about planting trees; it is about safeguarding our environment, reducing carbon footprint, and raising awareness on climate action,” Abaziem stated.

“By planting fruit-bearing and economic trees, we are helping communities build resilience, improve food security, and restore degraded ecosystems.”

The Divisional Head emphasized that climate change presents one of the greatest global challenges and requires an urgent and collective response. He noted that financial institutions like Polaris Bank must take leadership in driving initiatives that contribute to a more sustainable future.

The Nigeria Conservation Foundation commended the Bank’s leadership of Polaris Bank and noted that the selected trees would serve multiple benefits, including preventing soil erosion, providing shade, acting as windbreakers, and yielding edible produce for schools and host communities.

NCF Field Officer, Mr. Alex Jorbedom, highlighted the significance of planting fruit-bearing trees, noting that they will provide shade, serve as windbreakers, and produce edible fruits for both students and the host community.

“We are targeting 500 trees in this school, including avocado and native pear. Each tree has been planted with protective mesh, and we will return to create further awareness so the students appreciate their value and care for them properly,” Jorbedom said.

Polaris Bank’s broader sustainability roadmap, integrates climate action and community development into its long-term growth strategy. Through collaborations such as this, the Bank continues to strengthen its role as a catalyst for positive environmental and social impact.

Stanbic IBTC Bank Unveils Return of Exclusive Save and Enjoy Promo Season 2

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Stanbic IBTC Bank is once again raising the bar for rewarding customer loyalty with the much-anticipated return of its Save and Enjoy Promo, Season 2, specially designed for its Private Banking clients.

This refreshed campaign builds on the established success of its maiden edition where high-net-worth individuals were rewarded with exclusive benefits such as open business class tickets to a word-class destination, priority passes, and other consolation prizes.

The Save and Enjoy Promo underscores Stanbic IBTC Bank’s commitment to celebrating trust and loyalty while encouraging a culture of saving and financial discipline among its esteemed Private Banking clientele. Season 2 promises to be bigger, more rewarding and memorable.

Customers stand a chance to win luxury business class tickets to the United States of America, United Kingdom or Canada; airport priority passes valid for one year; luxury vintage travel boxes and more exciting consolation prizes.

Layo Ilori-Olaogun, Head, Private Banking, Stanbic IBTC Bank, expressed her enthusiasm ahead of the launch. In her statement, she re-emphasised the importance of building strong connections with the bank’s Private Banking clients.

According to Layo, ‘Our Private Banking clients deserve experiences that match their ambitions. Our Save and Enjoy Promo Season 2 is a celebration of success, luxury and lifestyle and we are thrilled to create a more rewarding journey for our clients this season’.

By participating in the campaign, clients can experience firsthand the personalised services and financial solutions tailored specifically for their needs. The focus is on delivering exceptional value and ensuring that each client’s banking experience aligns with their unique financial goals and aspirations.

To qualify, clients are invited to make a minimum deposit of N10million in their current accounts and maintain the balance for the promotional period – between 01 September and 30 November 2025.

Stanbic IBTC Bank is a leading financial institution dedicated to providing exceptional banking services to individuals and businesses. With a strong heritage of excellence, innovation and customer focus, the bank continues to deliver unique financial solutions that empower clients to achieve more.

 

SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

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The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has emphasised the importance of accountability and transparency as critical tools for strengthening investor confidence in Nigeria’s capital market.

Agama stated this while delivering a goodwill message at a stakeholder engagement on internal control over financial reporting in the public sector.

The event, themed “Strengthening Accounting and Transparency through ICRC,” was organized by Smith Ighodalo Adewale Odiachi, SIAO under the Internal Control over Financial Reporting (ICFR), in collaboration with the Financial Reporting Council (FRC) in Abuja.

According to the SEC DG, proper internal control mechanisms over financial reporting are essential for market integrity and investor trust.

“Internal control over our financial reporting is a critical part of disclosures. Whether in the securities market, for public companies, or other organisations, these controls strengthen accountability, transparency, and integrity within the financial system,” Agama stated.

The SEC DG added that investor confidence is closely tied to how transparent and accountable financial institutions and market operators are.

“For investors, what matters is knowing that there is accountability, that people are doing what they ought to do, and stewardship is being upheld,” he said. “When investors see that management is committed to these principles, they are more likely to invest,” Agama said.

Agama, also spoke on the recent passage of the Investment and Securities Act (ISA) 2025, signed into law by President Bola Ahmed Tinubu on March 25, describing it as a milestone in capital market reform.

“The ISA 2025 has introduced key reforms aimed at fostering a more transparent and efficient market,” he noted. “We are already seeing improved investor sentiment and increased confidence in the system.”

He stressed that SEC, under his leadership, is committed to professionalism and adherence to the law, and that these values are driving improvements in the market.

Celebrating 24 Years of Telecom Transformation in Nigeria

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By Elvis Eromosele

Twenty-four years ago, Nigeria took a giant leap into the digital age. The year was 2001, and the arrival of digital mobile telephony rewrote the nation’s economic, social, and even cultural script. What a ride it has been.

From the moment those first SIM cards hit the market, a quiet revolution began. No, not in the dusty corridors of power or the high towers of industry, but in the hands of ordinary Nigerians. The change was instant and irreversible. Suddenly, you could call anyone, anywhere, anytime. Businesses found new ways to connect, families stayed in touch across continents, and young people discovered the magic of “flashing.”

The magic started when then-President Olusegun Obasanjo’s administration sanctioned the liberalisation of Nigeria’s telecoms sector and approved the licensing of digital mobile operators. It was a bold, forward-looking policy decision that opened the door to private investment, broke the state monopoly, and set the stage for a competitive market. The Nigerian Communications Commission (NCC) conducted the 2001 landmark GSM auction that ushered in the mobile revolution that transformed the nation’s economic and social landscape.

But the real story of these 24 years goes far beyond the joy of mobile calls and texts. It’s about jobs, commerce, and capacity building on a scale on a humongous scale.

Let’s start with employment. Digital mobile telephony has created hundreds of thousands of direct jobs, from engineers and marketers to customer service agents and retail sales staff. These are the visible ones. I was privileged to spend almost nine exciting years at MTN Nigeria. Then there are the millions of indirect jobs: tower riggers, recharge card sellers, mobile money agents, SIM registration officers, and, yes, even those who rent out umbrellas to street-side phone vendors.

Every city, every town, every village has felt this ripple effect. For many young Nigerians, that first job in a telco store or as a recharge card hawker was the gateway to bigger opportunities. It wasn’t just about earning money; it was about learning discipline, customer service, and the hustle mindset that fuels our economy.

The impact on the economy? Massive. Think of a sector, any sector, and I’ll show you how mobile telephony supercharged it. Agriculture? Farmers now contact buyers directly, eliminating the need for middlemen. Banking? Mobile banking, USSD codes and fintechs with services like Moniepoint, OPay and PalmPay have turned phones into banks, driving financial inclusion for millions. Education? Students download resources and attend virtual classes. Entertainment? Nollywood and Afrobeats exploded onto the global stage, riding on the back of mobile internet.

It’s no exaggeration to say that digital mobile telephony became the invisible infrastructure powering Nigeria’s growth.

Besides, mobiles supercharged SMEs, which make up over 90 per cent of Nigerian businesses. Research shows that businesses using mobile internet see productivity jumps of at least 10 per cent, growing twice as fast and exporting more. Today, across Nigeria, millions of people are earning a living from phone-related hustles. From POS agents handling cashless transactions to content creators on TikTok, mobile is the ultimate job creator.

Perhaps one of the most underappreciated aspects of this revolution is the massive skill transfer it triggered. In 2001, Nigeria had limited local expertise in telecoms engineering, network maintenance, or digital customer care. Today, the country boasts a growing army of telecoms professionals, many of whom now export their skills to other African countries and beyond.

Capacity building wasn’t limited to engineers. Entrepreneurs learned to run distribution networks. Marketers learned to sell intangibles. Young people learned to code, build apps, and create mobile-first businesses. And it’s still ongoing, the sector keeps up-skilling people to keep pace with evolving technology.

Now, there is a segment that appears to operate below the radar. It doesn’t get enough attention. I’m talking of the parts and accessories market. This is the huge informal sector that thrives in every corner of Nigeria. From chargers, earphones, and phone cases to replacement screens and batteries, the trade is endless.

The scale is mind-boggling. Think of Computer Village in Lagos, GSM Village in Abuja, and smaller clusters across every state. These markets employ tens of thousands directly, and their supply chains support countless others, including importers, wholesalers, artisans who fix phones, and street vendors. It’s an economy within an economy, and its contribution is incalculable.

As we mark 24 years, it’s worth noting that the journey is far from over. The conversation has shifted from basic connectivity to high-speed internet, 5G rollouts, Internet of Things (IoT), and artificial intelligence. The opportunities are bigger, the stakes higher, and the potential limitless.

But let’s not forget, this all began with the simple power to make a call. That one breakthrough unleashed a chain of economic, social, and personal transformations that continue to shape Nigeria today. At this point, both MTN Nigeria and Airtel Nigeria deserve commendation for their outstanding performance during this period.

So- here’s to 24 years of digital mobile telephony in Nigeria, the ride that changed everything, and still promises more.

 

Elvis Eromosele, a corporate communications professional and sustainability advocate, wrote via [email protected].

 

NIIRA Act: Continental Re ED Technical, Akwiwu, Emphasises Strong Governance in Insurance Firms

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L-R: Chairman, Retreat Planning Committee, Oluwamuyiwa Aderibigbe and Executive Director (Technical), Continental Reinsurance Plc, Chukwuemeka Akwiwu at the annual retreat of the Risk, Audit, and Compliance Committee (RACC), a committee under NIA, held recently in Abeokuta, Ogun State.

The Executive Director (Technical), Continental Reinsurance Plc, Chukwuemeka Akwiwu, has urged insurance companies to embed strong governance practices as a core strategy for managing the fresh capital they are required to raise under the NIIRA Act 2025.

He made this call at the annual retreat of the Risk, Audit, and Compliance Committee (RACC), a technical committee under the Nigerian Insurers Association (NIA), held in Abeokuta, Ogun State recently.

Speaking on the theme of the retreat, “Insurance Industry Recapitalisation: Strengthening Governance Activities for Maximum Benefits”, Akwiwu emphasized that while new capital provides much-needed strength to insurers’ balance sheets, it is governance that ensures capital is deployed wisely, risk is underwritten responsibly, and companies are positioned for sustainable growth.

“With recapitalisation, we now have the capacity to underwrite more and take on larger risks,” he said. “But that comes with the responsibility to ensure we are taking on the right risks, with proper exposure limits and necessary protections in place. Governance and control must guide this process.”

He highlighted that capital, while necessary, is never permanent unless it is well managed.

“Capital is fleeting, it comes and goes. But it is always willing to stay where strong governance structures are in place,” Akwiwu noted. “Governance is the multiplier of capital. It doesn’t just preserve capital; it enhances its impact.”

Akwiwu welcomed the increased capital requirements which are N10bn for life, N15bn for non-life, N25bn for composite, and N35bn for reinsurance firms, but pointed out that capital alone will not transform the industry. He called for company boards and leadership to go beyond compliance and embed a culture of risk management and strategic oversight at every level of operation.

“This is not business as usual. Every individual in the value chain must take ownership of the process and ensure that decisions are not made first and then justified later. Compliance must come first, not as a reaction, but as a guiding principle,” he emphasized.

He also urged insurers to revisit the composition of their boards, perform skills gap analyses, and ensure that board members are chosen based on merit and value addition, not personal relationships.

“Gone are the days of sitting on boards because your friend owns the company. You must bring value, expertise, and accountability,” he said.

Akwiwu expressed optimism about the future of Nigeria’s insurance industry and its role in contributing to the country’s $1 trillion economy. “Stronger capital, aligned with stronger governance, will not only stabilize our companies but increase public trust in our products and services, creating a cycle of growth and deeper penetration.”

He encouraged continuous engagement with NAICOM, the industry regulator, noting that collaboration and transparency will be key to ensuring the success of the ongoing recapitalisation process.

 

 

 

AERMP Holds Mid-Year Conference, Induction 2025 in Lagos

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L-R: THE REGISTRAR, JAMES HOPE UNIVERSITY, Dr. UZOR ACHUGAMONU, DIRECTOR, NDLEA, representing the Chairman NDLEA, BRIG GEN BUBA MARWA (RETD), Mrs. ARCHIE – ABIA IBINABO. O M, DIRECTOR GENERAL / CEO, AERMP, Dr. Olayinka Odutola, Ag Director, EFCC, LAGOS ZONAL DIRECTORATE 2, AHMED M. GHALI, representing Mr. Ola Olukoyede, Chairman, EFCC, PRESIDENT, AERMP, Mrs. SYLVIA TAIWO IGE, Ag VICE CHANCELLOR, JAMES HOPE UNIVERSITY, Professor Abiola Babajide and President, Chartered Institute of Stockbrokers, Mr. Oluropo Dada at the AERMP Mid-Year Conference & Induction 2025 in Lagos.

Fidelity Bank Resumes International Transactions on Naira Debit Cards

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Tier-one Lender, Fidelity Bank Plc, has announced the resumption of international transactions on its Naira Debit Cards. This recommencement gives customers the freedom to make seamless payments abroad, online, and at ATMs outside the country.

Shedding light on the development, Ifeoma Onibuje, Divisional Head, eBanking, Fidelity Bank Plc said: “We are delighted to inform the public that Fidelity Naira Cards are now enabled for global use. This means that our travelling customers can now utilise their Naira Debit cards outside the country to shop, spend and withdraw internationally without hassles.”

“Consequently, our customers can now spend up to $1,000 quarterly for international POS and online transactions; and withdraw up to $500 quarterly on international ATMs.”

The announcement offers Fidelity Bank customers another way to complete international transactions, in addition to the Bank’s existing foreign currency debit and credit cards.

This further reinforces Fidelity Bank’s commitment to delivering solutions that fit seamlessly into customers’ lifestyles. With Fidelity Bank’s VISA and Mastercard Naira Debit Cards, Nigerians can now enjoy effortless global access.

Beyond payments, Fidelity VISA cardholders, one of the variants of the bank’s card offerings, also enjoy premium travel and lifestyle benefits ranging from airport lounge and spa access via the Visa Airport Companion App, to fast-track immigration lanes and 20% discounts on SIXT car rentals worldwide.

This move reflects the bank’s commitment to provide secure, convenient, and reliable banking services that empower customers in Nigeria and beyond.

The bank has deliberately made the process of getting a Fideity Naira card seamless. Customers can easily apply for their Fidelity VISA or Mastercard Naira Debit card via the Fidelity Mobile App or simply visit the nearest Fidelity bank branch to request for one and they can start transacting globally with ease.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.

Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

 

BudgIT Faults Finance Min, Budget Office over Budget Implementation Reports

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BudgIT, a prominent civic-tech organisation promoting transparency and accountability in Nigeria’s public finance, has raised serious concerns over the refusal of the Federal Ministry of Finance, via the Budget Office, to publish Quarterly Budget Implementation Reports (BIR), describing its action as a violation of statute, established practice and a clear erosion of the hard-won dissemination and transparency reforms of previous administrations.

It is settled law, per the Fiscal Responsibility Act, 2007 in Part V, Budgetary Execution and Achievement of Targets, section 30 that: “The Minister of Finance shall cause the report (on the Implementation of the Annual Budget) prepared pursuant to subsection (1) of this section to be published in the mass and electronic media and on the Ministry of Finance website, not later than 30 days after the end of each quarter.” Furthermore, the previous administration, in its two terms, published a minimum of 3 BIRs per fiscal year. With nearly 4 BIRs pending from Q2, 2024, to Q2, 2025, the current administration has not published a single BIR in nearly one fiscal year.

Budget Implementation Reports are not only a requirement of the law and established practice, they are an indication of a government’s willingness to be transparent and to provide evidence of its spending.

The proof of this spending is crucial to assess the quality of implementation of its budget and, more broadly, the quality of the delivery of public goods and services. Public sector accounting principles emphasise the need to publish and disseminate financial information as a matter of professional practice and to secure the engagement of the public, a significant stakeholder in public financial management.

It is troubling that the current administration has ignored the law and refused to publish a key public document. It would have been preferred that the current administration build on the foundation of previous governments and, in addition to regular implementation reports, publish and disseminate the Federal Cash Plan Disbursement Schedule, per section 26 of the Fiscal Responsibility Act. This poor state of affairs is all the more compelling, considering the current administration has just concluded spending on the 2024 Appropriation (though it is unclear if the 2024 Supplementary.

Appropriation is still being implemented). Regrettably, the Ministry of Finance and Budget Office of the Federation have withheld crucial information that the private sector is meant to use for planning, information that Civil Society and the Academia are meant to use for their advocacy and analysis and information that will show the international community that Nigeria operates according to accepted norms and conventions of international public finance.

Perhaps more worrying is the fact that this disposition towards providing public information does not end with Quarterly BIRs but extends to the government’s own public platforms, namely OpenTreasury.gov, which used to be the go-to source of information on daily, weekly, monthly, quarterly and yearly spending of the federal government. While the platform was not perfect (several government Ministries, Departments and Agencies’ spending data was absent, links were broken, and the data was often not machine-readable), it was largely comprehensive and a demonstration of transparency and the willingness of the government to be held accountable. The government has not updated the platform with new information since January 2025.

Commenting, BudgIT’s Group Head of Research and Policy Advisory, Vahyala Kwaga, contends that the unwillingness of this administration to publish what was once a matter of routine is discouraging.

“The ability of a government to hold itself accountable to its laws is not only to be expected of a democracy such as ours but is an indication of adherence to the rule of law. The non-publishing of crucial information by the Ministry of Finance and the Budget Office of the Federation should not be augmented by ‘pronouncements’ by the Minister/Director General in the media. It should be done by publishing financial information according to existing laws. Citizens and the general public have a right to know and a right to be informed,” he said.

To this end, BudgIT calls on the Ministry of Finance and the Budget Office of the Federation, and the President of the Federal Republic of Nigeria, Bola Ahmed Tinubu, to uphold the principles of transparency, legal compliance, and accountability in the management of public funds. We also urge citizens, civil society organisations, the private sector, academia/research, and the international community to collectively seek the urgent publication of the expenditure performance underpinning the federal government’s 2024 budget. We all have a right to know.

 

 

NIA Chairman, Kunle Ahmed, Confirmed to Speak at IMT 4.0 Conference

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Insurance Meets Tech (IMT), West Africa’s leading platform for converging insurance and technology innovations, colloquium, and discourse on policy environment and operational efficiencies, proudly confirms the participation of Kunle Ahmed, the Chairman of the Nigerian Insurers Association (NIA) as a Guest of Honour for the highly anticipated IMT 4.0 Conference, scheduled for Thursday, September 18, 2025, in Lagos.

Kunle Ahmed, who is also the CEO of AXA Mansard Insurance, joins a high-powered lineup of leaders from key insurance institutions, who have now confirmed their participation in the leading conference.

They include Prince Babatunde Oguntade, the President of the Nigerian Council of Registered Insurance Brokers (NCRIB); President and Chairman of Council of Chartered Insurance Institute of Nigeria (CIIN), Mrs. Yetunde Olubunmi Ilori, (Mrs.) Abimbola Onakomaiya, the President of the Professional Insurance Ladies Association (PILA), and most importantly, the Commissioner for Insurance/Chief Executive Officer, National Insurance Commission (NAICOM), Mr. Olusegun Ayo Omosehin.

Odion Aleobua, Convener of the Insurance Meet Tech (IMT) and CEO of Modion Communications, warmly welcomed the Chairman of the Nigerian Insurers Association, Kunle Ahmed. “Having the Chairman of the NIA on board is a monumental buildup to this event. Kunle Ahmed is not only a respected leader in the industry, spearheading the premier umbrella body, but he is also a dedicated advocate for the digitalisation and tech-led innovations within the Nigerian insurance sector.

“There couldn’t be a better time for him to join us at the IMT, especially following the passage of the Nigerian Insurance Industry Reform Act (NIIRA) and the launch of the NIA Innovation Lab. His insights and perspectives will undoubtedly enrich the discussions at the conference.”

With key institutions such as NAICOM, CIIN, NIA, NCRIB, and PILA fully involved in this year’s edition, it affirms that IMT is the most critical convening ground for Nigeria’s insurance ecosystem —a coalition of leadership voices ready to write a new chapter for the industry.

The 2025 edition of Insurance Meets Tech will feature Per Lagerström from South Africa as the Headline Speaker. He is a global thought leader in insurtech, behavioural science, and innovation.

He was a former Partner at McKinsey & Company, with deep expertise in financial services, FMCG, and strategy consulting and Founder of BehaviorTech. This pioneering field combines behavioural science, AI, and innovation to produce transformative results for individuals, businesses, and societies.

He is also the CEO of Yellowspot, an Ireland-based venture studio focused on developing disruptive ventures in financial planning, education, longevity, and human-centred digital transformation.

A Journey of Change: The Power of Making Bold Decisions

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The book-A Journey of Change by Mr. Kayode Adeagbo, the CEO of TMS UK Property Limited was presented to the public yesterday at Laterna Books store in Lagos.

Adeagbo said the book, which was 20 years in his dream, was a compilation of his earthly journey of over 60 years and a worthy testament and tribute to his love of books and reading.

Going down memory lane, the author said: “I believe so much in books-reading transformed my life. Many people do not understand the spiritual angle of reading books.”

In his welcome address, the author stated:

“This book is more than just pages and words—it is my story, my experiences and the lessons I have gathered along the way. Like many of us, my journey has not been a straight path. I’ve faced challenges, setbacks and moments of uncertainty. But through it all, I discovered resilience, faith and the power of making bold decisions. One of the biggest parts of my story is my property journey—how I started with little, made mistakes, learned, and eventually built a path that created both freedom and opportunities.”

He added that the book is not just about property, though—it is about transformation. “It is about how change, no matter how difficult, can open doors to growth, to new beginnings and to success that once seemed out of reach. My hope is that as you read the book, you don’t just see my journey—you see reflections of your own. That you find encouragement to take steps forward, to embrace change and to build the future you truly desire.”

On the inspiration behind the book, Adeagbo said mentoring people was one of the key reasons why he wrote and published the book.

“Impacting people is more important than personal success. I am impacting people. Those doing well today should impact other people to also do well. I have a lot of people l mentor. People in Nigeria could be part of my mentoring program. Many didn’t buy into my mentoring program initially but many are now interested.”

He said the book, which was four months in the making would have a revised edition by 2026 to capture some of the missing links in his life’s journey not adequately reflected in the current edition. According to him, two more books are coming in the very near future.

The author said the coming of technology has also impacted positively on reading of books.

“Technology has helped me in reading books. I read more now on property because l have a lot of people l mentor in that line of business.”

Adeagbo added that relocating from Nigeria to the United Kingdom to focus on his real estate business was a journey that created a path of success and prosperity unlike his early upbringing.

“My journey to Lagos in my early days was to live my father’s dream of going to school to become a politician, unlike my dad who was a farmer. We also generated great value from our mum in our family setting.”

With his success story as a realtor in the bag, Adeagbo confessed that his relationship with God kept him away from the wrong path of creating wealth.

“The scriptures guided my path. My faith in God guided me on my journey. The God factor is key and if you join it with others, success is guaranteed.”

To him, the other success factors include networking, collaboration and leveraging on technology.

“The world we live in rotates. It is not static. Many years ago, hardwork was the most important factor. Then the smart work ethic came-and it came with technology. In essence, the sum total of my journey was the power of making bold decisions.”

To corroborate the story of Kayode Adeagbo, his close friend of over five years, Mr. Dotun Oloyede, CEO, Rolad Properties Limited, said the author, fondly called Papa K by close friends, believes strongly in the concept of tenacity and resilience.

“Adeagbo’s commitment is to see others grow. His methodology resolves around hardwork, educating himself and gaining additional knowledge.”

In the same vein, Mr. Olusanya Adetifa, the CEO of Shanhad Integrated Services Limited described the author as an all-rounder.

“He teaches people about foundation, vision and resilience, which started from his early days in life. He had the determination not to disappoint his parents. He wants to teach. He is very intentional to pass on knowledge to others.”

Adetifa said parents have a big role in redressing the problem and challenge of declining reading culture in Nigeria, even in the current age of social media.

Stanbic IBTC Insurance Hosts 2nd Annuitant Forum on Life in Retirement

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Retirement is often viewed as a new beginning, an opportunity to enjoy the fruits of one’s lifetime work. In line with its mission to support clients through every stage of life, Stanbic IBTC Insurance Limited, a subsidiary of Stanbic IBTC Holdings Plc, is set to host the second edition of its Annuitant Forum, themed “Making the Most of Life in Retirement.”

Held online on August 20, 2025, this year’s event opened its doors to participants across Nigeria. The virtual format ensured wider access, allowing retirees and those planning for retirement to engage in meaningful, interactive discussions on topics that matter most, ranging from health and wellness, estate planning, and expert insights on securing a fulfilling retirement.

Akinjide Orimolade, Chief Executive of Stanbic IBTC Insurance Limited, speaking on the importance of the theme highlighted that: “Retirement is a significant milestone that should be embraced with purpose, security and fulfillment. Unfortunately, many are unprepared for the realities that come with this phase. Our goal with this forum is to provide both retirees and employers with practical guidance and holistic advice, helping them navigate this new chapter confidently.”

Participants had discussions on long-term income strategies, the vital role of insurance in maintaining financial stability and how organisations can better support their staff’s retirement journeys. The event also touched on lifestyle aspects such as wellness, leisure and personal growth; reinforcing the idea that retirement is a time to thrive.

The Stanbic IBTC Insurance Annuitant Forum has become an important platform for the organisation to connect with its retirees, strengthen relationships, and reaffirm its leadership in retirement planning solutions.

By hosting the event virtually, the company was committed to making this resource accessible to retirees nationwide, ensuring that no one is left behind in planning for a rewarding retirement.

 

NAICOM, Police Begin Crackdown Against Sale of Fake Insurance Policies

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The National Insurance Commission (NAICOM) has launched a crackdown on individuals selling fake motor third-party insurance policies in collaboration with the Nigeria Police Force.

Led by its Motor Third-Party Insurance Enforcement Committee, NAICOM conducted a raid in the Mabuchi area of Abuja, targeting perpetrators who issue counterfeit policies to the public.

This enforcement action is a follow-up on the directive by the Inspector General of Police on strict compliance with third-party motor vehicle insurance across the country. The action forms part of its strategic initiative to eradicate the proliferation of fake insurance documents.

During the exercise, Mr. Adeyemi Abubakar, Head of Market Development at the Commission, emphasised that the crackdown aimed to protect policyholders and the public from fraudulent insurance practices.

He explained that genuine third-party motor insurance policies provide critical compensation for accident victims, while fake policies deny citizens this essential benefit. Mr. Abubakar highlighted the importance of authentic insurance coverage, noting that it ensures financial protection and support in the event of accidents.

He also buttresses that selling insurance without a license is illegal and warns consumers to purchase policies only from licensed insurance companies to avoid losing money and being stranded during claims settlement.

Individuals apprehended during the operation will face prosecution in line with Nigerian law.

If convicted, they will be subject to penalties outlined in the Nigerian Insurance Industry Reform Act (NIIRA) 2025, which may include fines and other regulatory actions.

NAICOM reiterated its commitment to sanitising the insurance market and called on Nigerians to always verify the authenticity of their insurance policies through the Commission’s approved verification platforms.