The MD/CE, Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan presents the NDIC research publications to the Chief Judge of the FCT High Court, Honourable Justice Husseini Baba-Yusuf along with Honourable Justice S. C. Orji and Honourable Justice M. F. Anenih during the NDIC Management’s visit to the FCT High Court, Abuja.
Sterling One Foundation’s Education Interventions Propel Progress Amid Global Focus on AI, Learning
With the transformative role of technology in education more critical now than ever, this year’s theme for the International Day of Education, “AI and Education: Preserving Human Agency in a World of Automation,” highlights the need for inclusive and technology-driven education systems.
According to UNICEF, Nigeria’s education system continues to face significant challenges, with the number of out-of-school children rising to 18.3 million. This alarming figure underscores the urgent need for targeted interventions to bridge systemic gaps and improve access to quality education.
Education is a thematic focus area for Sterling One Foundation, which in 2024 reached over 20,000 individuals directly and indirectly through impactful programs designed to address these challenges. Through its initiatives, the Foundation has empowered educators and students with STEM-focused tools that integrate innovative teaching methodologies, ensuring inclusive and equitable learning opportunities.
The Early Child Learning Advancement Project (E-CLAP) significantly improved foundational literacy and numeracy skills for over 2,000 children in underserved communities. Implemented across Kano, Lagos, Borno, and Oyo states, the program combines modern teaching tools with active community involvement to enhance learning outcomes.
Within six months, E-CLAP achieved measurable improvements by equipping teachers with culturally relevant and interactive teaching techniques that keep students engaged and motivated.
In the Northeast of Nigeria, where secondary and tertiary school representation has historically been low, Sterling One Foundation partnered with the Northeast Development Commission (NEDC) to implement the Accelerated Senior Secondary Education Programme (ASSEP).
This initiative addressed systemic educational challenges in the region by focusing on Science, Technology, Engineering, Mathematics, and Agriculture (STEMA). ASSEP trained over 720 teachers through online and in-person modules, providing over 15,000 students with STEM-focused resources, virtual reality-enabled learning tools, and tailored exam preparatory materials designed to improve WAEC, NECO, and JAMB exam outcomes.
In alignment with this year’s theme, the Foundation’s collaboration with CDIAL AI further expanded its impact through the Indigenous Multilingual Digital Literacy & Artificial Intelligence Hub, launched in Ajegunle, Lagos. This initiative empowered 174 learners with essential digital literacy skills, leveraging AI-powered tools in 13 native African languages. The project bridged education gaps and promoted inclusion in underserved communities by enabling learning in mother tongues.
Commenting on the importance of this year’s education theme, Olapeju Ibekwe, CEO of Sterling One Foundation, stated:
“The theme, ‘AI and Education: Preserving Human Agency in a World of Automation,’ underscores the urgent need to integrate technology responsibly while ensuring education remains inclusive and human-centred. At Sterling One Foundation, we recognise that achieving the Sustainable Development Goals, particularly SDG 4, requires accelerating efforts to bridge systemic gaps. By empowering educators and students with innovative tools and collaboration, we are building a future where quality education drives sustainable development and leaves no one behind.”
Sterling One Foundation’s impact is rooted in partnerships that enable scalable and sustainable solutions. Education remains fundamental to development, and to accelerate progress toward the Sustainable Development Goals, Nigeria and Africa must prioritise inclusive policies, embrace innovative approaches, and commit to collaborative efforts that address systemic challenges while ensuring equitable access to quality education for all.
Union Bank Rewards 360 Customers with N21m in First Save and Win Palli Promo 4 Draw
Union Bank of Nigeria has kicked off its Save and Win Palli Promo 4campaign on a high note following the announcement of its first set of winners in its inaugural monthly draws.
The first live draw of this season, which took place at the Bank’s Head Office in Marina, Lagos, rewarded 60 customers with ₦100,000 each.
Additionally, 300 other winners went home with ₦50,000 worth of gift vouchers during the inaugural live draw, which was conducted transparently and digitally under the supervision of relevant regulatory bodies. The winners cut across the nation.
Speaking at the first monthly draw, Gloria Omereonye, Union Bank’s Area Business Executive for Lagos Island 1, stated:
“Union Bank is always dedicated to rewarding customers for their loyalty and financial discipline. We are pleased that our promo has continued to achieve its noble goals of providing succour to our customers through our gifts and rewards, especially in these economically trying times, while facilitating a sustainable savings culture for future goals and objectives.”
Save & Win Palli Promo is a nationwide campaign designed to reward both new and existing customers with cash prizes. Season 4, which began in December 2024 and runs until May 2025, offers customers the opportunity to win ₦131 million in cash prizes, Motorcycles, Tricycles, Fuel Vouchers, and a star prize of ₦5 million, which will be handed out to three lucky winners at the grand finale.
Open to new and existing customers, the Save and Win Palli Promo requires participants to save a minimum of ₦10,000 and perform a minimum of five transactions monthly to qualify for draws. Monthly winners can receive ₦100,000, while quarterly draws will reward lucky savers with Motorcycles, Tricycles, and other exciting prizes. Customers who save in multiples of ₦10,000 will increase their chances of winning.
New customers can join the promo by downloading the UnionMobile app to open an account or visiting any Union Bank branch.
UN: $910m Urgent Aid Required for North-East in 2025
A total of just over US$ 910 million is required to respond to the humanitarian needs of 3.6 million people in need of life-saving assistance in Borno, Adamawa and Yobe (BAY) states in north-east Nigeria in 2025. A total of 7.8 million people are considered to be in need of humanitarian assistance.
The UN Resident and Humanitarian Coordinator in Nigeria, Mohamed Malick Fall, stated that the needs are “driven by conflict, climate shocks, and economic instability”, with the compounding effects of flooding, disease outbreaks, food insecurity and malnutrition deepening vulnerabilities.
Mr. Fall was speaking in Abuja at the launch of the 2025 Nigeria Humanitarian Needs and Response Plan (HNRP), where he was joined by the Federal Minister of Humanitarian Affairs and Poverty Reduction, Professor Nentawe Goshwe Yilwatda, high-level representatives of the diplomatic corps and senior officials from diverse government agencies as well as national and international non-governmental organisations.
Minister Yilwatda highlighted the growing humanitarian needs in north-west and north-central Nigeria. He called for combined humanitarian, development and peacebuilding efforts for that region as well. “This will enable us to get humanitarian efforts translated into durable solutions that can move people out of poverty and provide livelihoods to reach sustainable development,” he said.
Minister Yilwatda said that the restructured Ministry of Humanitarian Affairs and Poverty Reduction was committed to timely, effective life-saving humanitarian responses and poverty reduction. “We will continue to coordinate interventions at all levels, ensuring they align with national humanitarian and poverty-reduction priorities,” he said.
In their remarks, the Governor of Borno State, Professor Babagana Zulum, the Governor of Adamawa State, Ahmadu Umaru Fintiri, and the Governor of Yobe State, Mai Mala Buni, reaffirmed their commitment to sustaining collaboration with the UN and partners to address pressing humanitarian needs and foster sustainable development.
Given declining global funding for humanitarian efforts, the 2025 Nigeria HNRP aims at strengthening efficiency in the delivery of aid. This includes acting before disaster strikes, through anticipatory action to events such as floods and disease outbreaks, to mitigate their impact.
It also aims to increase direct funding to local partners on the frontline of the response and scaling up multipurpose cash assistance, as well as reducing transaction costs.
In 2025, 33 million people in Nigeria will face acute food insecurity during the lean season* with alarming levels of malnutrition threatening millions of children. In the BAY states, 5.1 million people will be affected.
Urgent funding and resources are required from donors and the Government to ensure that food and nutrition assistance and other urgent support is provided to people in critical need.
Coping in Nigeria’s High-Inflation Economy
By Elvis Eromosele
Economists say inflation is a persistent rise in prices. It happens when there’s too much money chasing too few goods. Inflation in Nigeria today has become a huge challenge, affecting businesses, consumers, and the overall economy. As inflation rates soar above acceptable thresholds, companies are navigating uncharted waters to stay afloat.
Inflation is bad for everyone. It erodes the purchasing power of consumers, increases the cost of raw materials, and heightens operational expenses. For businesses, the ripple effect can be devastating including but not limited to reduced profit margins, lower consumer spending, and the constant pressure to balance affordability with profitability.
The situation is particularly dire for industries dependent on imported goods, as fluctuating exchange rates intensify costs. However, local businesses are also feeling the pinch due to rising fuel prices, high transportation costs, and an unreliable power supply.
To navigate the challenging economic environment, businesses across Nigeria are adopting innovative strategies to remain competitive and sustain growth.
Promotional discounts and offers have become effective tools for attracting and retaining customers. Companies are leveraging these deals to provide value without entirely sacrificing revenue. The Place, a popular restaurant chain, has introduced a 20 per cent discount on all rice dishes. This initiative not only appeals to cost-conscious consumers but also drives customer loyalty.
Another key approach is localized sourcing. To reduce costs and support the local economy, many companies are shifting their focus from imported raw materials to sourcing locally. Unilever exemplifies this strategy by prioritizing local suppliers to reduce its environmental footprint, enhance product accessibility, and create employment opportunities. The company collaborates with local farmers and suppliers for ingredients and packaging materials, such as sourcing sorbitol for toothpaste from cassava starch through Psaltry International. This is a move that has generated jobs in farming and manufacturing. Unilever is now on track to achieve over 90 per cent local sourcing for its packaging materials.
Businesses are also adopting lean operations to curb rising operational costs. Implementing energy-efficient solutions, renegotiating supplier contracts, and embracing remote work models where feasible have proven effective in optimizing resources and reducing expenses.
Innovative pricing models are gaining popularity as companies seek to maximize revenue during peak periods. Dynamic pricing, which adjusts prices based on demand, is increasingly utilized in the hospitality and retail sectors to achieve this goal. Think of the Detty December report.
Diversification of offerings is another strategy businesses are employing to meet the needs of a broader customer base. Fast-food chains, for instance, are introducing affordable meal options to cater to low-income earners. Chicken Republic, for example, now offers a simple meal of white rice, stew, and egg, providing a budget-friendly option for consumers.
Furthermore, digital transformation is playing a pivotal role in helping businesses adapt to current realities. The adoption of e-commerce platforms, digital payment solutions, and social media marketing is enabling companies to reach a larger audience while minimizing overhead costs. This shift to technology-driven solutions is essential for businesses to remain relevant and competitive in the evolving marketplace.
Nigerian businesses are demonstrating remarkable resilience and ingenuity, positioning themselves to thrive despite economic headwinds. The Place, for example, has transformed a simple discount into a strategic response to inflation. By reducing prices on one of their most popular menu categories, rice dishes, they not only attract new customers but also promote loyalty among existing ones.
Telecommunications companies like MTN and Airtel have also introduced flexible data plans, allowing customers to access essential services without feeling the full brunt of inflation. Similarly, FMCG companies like Nestle, Checkers Africa and Unilever are packaging products in smaller, more affordable sizes to cater to price-sensitive consumers.
While businesses are adapting, the government has a critical role to play. Policy measures such as stabilizing the exchange rate, addressing infrastructure deficits, and providing tax incentives for local production can help create a more favourable environment for businesses.
For companies like The Place, these efforts are more than survival tactics—they are a testament to the adaptability and innovation that define the Nigerian entrepreneurial spirit. In the face of adversity, Nigeria’s business community continues to demonstrate that where there’s a will, there’s always a way.
Eromosele, a corporate communication professional and public affairs analyst, wrote via: [email protected]
ICAN Applauds NDIC on Integrity, Transparency in Promoting Financial System Stability
The MD/CE Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan and the 60th President of the Institute of Chartered Accountants of Nigeria (ICAN), Chief Davidson Chizuoke S. Alaribe during the ICAN Governing Council members’ visit to the NDIC Management in Abuja.
The President of the Institute of Chartered Accountants of Nigeria (ICAN), Chief Davidson Chizuoke S. Alaribe, has commended the Nigeria Deposit Insurance Corporation (NDIC) for its continuous compliance to the highest standards of integrity and transparency which is critical to the success of its operations in safeguarding depositors’ funds and ensuring the stability of the financial system.
This formed part of the ICAN President’s remarks during a courtesy visit of the ICAN Governing Council to the NDIC Management in Abuja.
Chief Alaribe said, the NDIC has been recognised as a formidable organisation due to its commitment to compliance with standards of corporate governance, zero-tolerance for corruption and effective internal controls.
He added that the Corporation’s commitment has been recognised by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), which awarded NDIC the top position in its 2023 Ethics and Integrity Compliance Scorecard (EICS).
While underscoring the relationship between his Institute and NDIC, Chief Alaribe disclosed that ICAN has also established the ICAN Accountability Index to promote integrity in key sectors of the economy, focusing on budget, credibility, asset and debt management.
In his remarks, the Managing Director and Chief Executive Officer of NDIC, Mr. Bello Hassan congratulated Chief Alaribe on his appointment as the 60th President of ICAN. Hassan, himself a Fellow of the Institute, described ICAN as a strategic stakeholder of the Corporation.
He therefore reiterated the need for the Institute to ensure its members uphold the highest values of integrity and professionalism in the discharge of their duties as auditors, as NDIC and the Central Bank of Nigeria (CBN) continue to rely on their work as external auditors in their risk-based supervision of banks.
Reflecting on his earlier call for stronger collaboration with ICAN, the NDIC Boss stressed the need for the introduction of Deposit Insurance module in the curriculum of ICAN examinations.
He emphasised that this initiative is essential to enhance understanding of the Deposit Insurance Scheme among ICAN members, who represent a significant portion of potential bankers and bank examiners.
Hassan restated the Management’s commitment towards strengthening the partnership between ICAN and the Corporation in contributing to the stability of the banking sector and the nation’s financial system as a whole.
NIMC, FMAFS Partner on Farmer Registry, G2P Card Project
Preamble
The Federal Ministry of Agriculture and Food Security (FMAFS) in collaboration with the National Identity Management Commission (NIMC), is introducing the National Identity Number (NIN) enabled farmer registry and Government 2 people (G2P) card initiative.
This project is designed to address the Federal Ministry’s immediate challenges of identity and authentication, required to deliver government services efficiently and accurately.
This initiative aligns with the government’s commitment in improving transparency, efficiency and ensuring inclusivity under the President’s Renewed Hope Agenda, of which food security is a primary objective. I
ts aim is to eradicate the challenges of FMAFS in efficiently delivering well-intended government programmes to the targeted citizens.
The Farmer Registry and Card Ecosystem
To this end the FMAFS, guided by Mr President’s circular on the use of National Identification Number (NIN) by all MDAs in the provision of government services to beneficiaries, has partnered with NIMC to leverage the National Identity Management System to power the Ministry’s farmer registry by the linkage of the NIN and attendant biometric identity data of each farmer to their farmland, as well as all necessary supporting data relating to that farmer, including the size of the holding, type of crops or livestock.
Connecting this NIN-backed registry to the G2P card will thereby allow for provision of targeted and ring-fenced aid to the farmers and other recipients of government benefits under the FMAFS programmes.
The G2P card ecosystem is an initiative that allows for the issuance of NIN-enabled cards by Federal Ministries, Departments and Agencies (MDAs), and enables the use of the card’s frontend by these MDAs for their respective programmes.
The key feature of the ecosystem is a biometrics card with multiple wallets that can provide verifiable identification and also process transactions without internet connectivity, allowing the Ministry to support beneficiaries in the most remote locations.
The card is unique to each citizen, and every Nigerian and legal resident is eligible to obtain it, banked or unbanked. The G2P card will be owned by and personalised to each MDA that adopts its usage.
By adopting this card, FMAFS is able to uniquely identify all farmers, provide multiple agriculture services through the card in a manner that eliminates risks and fraud and also provide end to end visibility within the agriculture value chain thus enabling scalability.
Agriculture services to be provided through the card include farmer financing, input distribution, farmland mapping linked to identity, extension services monitoring & evaluation and agency banking as well as multiple types of third- party services.
Within this framework, NIMC will provide the foundational identity ecosystem to FMAFS, who as the owner of both the farmer registry and G2P card scheme will provide government services via the issued G2P cards, tailored to the needs of the farmers supported by the Ministry at the national and sub-national levels.
The G2P card has a large capacity in-card chip that stores beneficiary identity, know your customer (KYC), picture, and fingerprints.
In addition, it has two applets and several wallets dedicated to multiple types of programmes, which provides needed flexibility and channels for multiple interventions to be implemented against the same unique identity.
This flexibility is required to address infrastructure challenges limiting identity verification and digital evidence of beneficiary access when implementing government programmes.
The G2P biometric cards are processed through a bespoke but interoperable biometrics Point of Sale (POS) acceptance device, which requires biometrics to access and operate. This technological approach allows the Ministry to better deliver services and programmes in any location regardless of infrastructure challenges.
The card will operate as a digital wallet/ prepaid card and it is tailored for government transactions such as subsidies, loans, welfare disbursement, pensions and other activities carried out by FMAFS.
NIMC’s role is to provide the ecosystem with foundational biometric identity in the NIN to ensure that the card and its attendant benefits are linked securely and accurately to the beneficiary and the beneficiary only. FMAFS retains their statutory rights and ownership of data generated.
With the G2P ecosystem, any programme implemented by the Ministry can now be administered independently and showcased through digitally enabled dashboards displaying key data on how each programmes have been efficiently implemented or otherwise.
Conclusion
FMAFS and NIMC especially thank the press for their support thus far and looks forward to participating with the press in successfully implementing the FMAFS G2P Card project to the benefit of all Nigerians and residents.
NIMC Partners RH-NHGSF to Deliver Effective School Feeding Program
In alignment with the Renewed Hope Mandate of President Bola Ahmed Tinubu, the National Identity Management Commission (NIMC) is proud to announce a strategic partnership with the Renewed Hope National Home-Grown School Feeding (RH-NHGSF) Programme.
This collaboration, fostered by Engr. Abisoye Coker-Odusote (DG/CEO of NIMC) and Princess Aderemi Adebowale, National Programme Manager, Renewed Hope National Home-Grown School Feeding Programme, will ensure that every school child is enrolled and assigned a National Identification Number (NIN).
This initiative is aimed at fostering inclusive access to the school feeding program, enhancing transparency, and promoting accountability.
Under this partnership, the NIMC will work closely with the RH-NHGSF Programme, which marks a pivotal step toward ensuring the effective implementation of the school feeding initiative of the Federal Government of Nigeria.
By integrating the NIN registration process into the school feeding program, the partnership underscores the Federal Government’s commitment to improving educational and nutritional outcomes for children while advancing the Digital Public Infrastructure in Nigeria.
The NIMC remains dedicated to leveraging its expertise in identity management to drive sustainable development and equitable access to essential services for all Nigerians.
Sterling Bank Alleges Exploitation of National Assembly, Police Force CID in Business Dispute
Sterling Bank Limited, has petitioned the Inspector General of Police (IGP) to address alleged fraudulent activities linked to Miden Systems Limited and its director, Dr. Brendan Innocent Usoro. The action followed a series of purported attempts by Usoro to leverage political connections and law enforcement to undermine a court-mandated debt settlement.
The Federal High Court delivered a ruling on October 18, 2021, clearly establishing Miden Systems Ltd’s liability for outstanding debts and outlining the terms for repayment.
Despite this unequivocal judgment, Maurice Igugu, Sterling Bank’s Chief Marketing Officer, stated that Miden Systems and Dr. Usoro have engaged in a systematic campaign to evade compliance. The campaign allegedly involves misappropriation of loan funds, manipulation of corporate structures to protect assets and intimidation tactics aimed at bank officials.
The bank expressed serious concerns regarding the misuse of the Police Force CID and the National Assembly by individuals attempting to escape their legal obligations. Allegations suggest that Dr. Usoro has exploited his political connections to obstruct justice, with claims that individuals allegedly acting on his behalf, along with the Nigerian Police, have resorted to intimidation and personal harassment of Sterling Bank’s executives.
In a statement, Igugu condemned these actions as an affront to judicial authority and reaffirmed the bank’s resolve to hold the debtors accountable. He noted that the debtor’s actions have inflicted financial harm on the bank and its stakeholders.
According to the statement, “On October 18, 2021, the Federal High Court issued a decisive ruling that established the debtor’s liability and mandated adherence to agreed settlement terms. Despite the unambiguous nature of this judgment and the debtor’s acknowledgment of substantial outstanding debt, Miden Systems Limited and Dr. Usoro have engaged in a calculated campaign of non-compliance.”
Consequently, the Bank has sought the intervention of the IGP to address these issues and ensure justice prevails.
On December 10, 2024, through its legal counsel Kunle Ogunba, SAN, Sterling Bank submitted a detailed petition to the IGP. The document outlines serious allegations against Dr. Usoro and Miden Systems Limited, including the diversion of loan funds for personal use, defaults on loan obligations, asset misappropriation and illegal restructuring of the company’s shareholding.
The petition further highlighted efforts to obstruct justice through legal maneuvers and intimidation tactics against the Bank. The Bank’s petition to the IGP also underscored recent incidents of intimidation directed at its executives, allegedly orchestrated by parties acting on behalf of Dr. Usoro.
Urging stakeholders, customers and the public to disregard unsubstantiated accusations and recognise the facts, the Bank noted that the actions of Miden Systems Ltd and Dr. Usoro is a deliberate attempt to distract from their refusal to fulfill their financial obligations.
The statement added that deductions from Miden Systems’ account, which have been called into question, were carried out under an agreement enshrined in a consent judgment issued by the Federal High Court in Lagos.
“This judgment, signed by representatives of both parties, confirmed the debtor’s commitment to liquidate the debt, including principal and accrued interest, as of June 10, 2021.
“This follows some skewed narratives about a session on the issue with the House of Representatives Committee on Public Petitions on a petition from Maiden Systems Ltd, which accused the Central Bank of Nigeria (CBN), Sterling Bank, and Shell Petroleum of mismanagement and fraudulent debits linked to its account,” the bank stated.
In a recent development, on November 20, 2024, the Federal High Court dismissed an application by Miden Systems Limited and Dr. Usoro seeking to overturn the earlier judgment. The court’s dismissal cited abuse of process, reinforcing the validity of the original ruling and the binding nature of the settlement terms.
Sterling Bank urged stakeholders and the public to disregard unfounded accusations from Miden Systems Limited, framing them as distractions from their financial responsibilities.
The bank maintains that deductions from Miden Systems’ accounts were executed under a legally binding consent judgment.
While reaffirming its dedication to upholding the principles of justice, integrity, and accountability in the face of these small distractions, Sterling assured that it remains a trusted cornerstone of Nigeria’s financial sector, celebrated for its innovative solutions and unwavering commitment to sustainable development through its focus on the HEART sectors (Health, Education, Agriculture, Renewable Energy, and Transportation).
STI, NCRIB Reaffirm Bond for Industry Growth at Courtesy Visit
L-R: Kayode Adigun Executive Director, Finance and Corporate Services, Tope Adaramola, Executive Secretary NCRIB, Olufunke Adenusi, Vice president NCRIB, Olaotan Soyinka, MD/CEO, Sovereign Trust Insurance Plc, Prince Babatunde Oguntade, 22nd President, Nigerian Council of Registered Insurance Brokers, Ugochi Odemelam Executive Director, Marketing & Business Development, Sovereign Trust Insurance Plc, Emmanuel Anikibe (Executive Director, Technical, and Olugbenga Falade, Assistant Executive Secretary, NCRIB during the courtesy visit of the Council to Sovereign Trust Insurance Plc.
The President of the Council, Prince Babatunde Oguntade congratulated the Management and Staff of Sovereign Trust Insurance Plc on the 30 years anniversary of the Underwriting Firm.
He commended the efforts of the Management for the steady growth that the company has experienced under the leadership of the MD/CEO, Olaotan Soyinka.
In the same vein, he also extended his praises to the Visioners who envisioned the establishment of the underwriting firm 30 years ago and prayed that the company will continue to soar in the years ahead.
The NCRIB President equally called for the continued collaboration between the Council and Sovereign Trust Insurance Plc as he hinted on the project that the Council has embarked upon which he wanted Sovereign Trust Insurance Plc to be part of it.
The Managing Director/CEO of Sovereign Trust Insurance Plc, Olaotan Soyinka thanked the President and his delegation for finding the company worthy of their visitation in the new year.
He equally thanked members of the broking community in the country for the support and patronage that the company keeps enjoying over the last 30 years while also calling for more of such partnership in the years ahead.
Reaching the Most Vulnerable in Nigeria: Our Humanitarian Roadmap 2025
By Mohamed Malick Fall
On 23 January 2025, we will launch the 2025 Nigeria Humanitarian Needs and Response Plan (HNRP). The plan targets 3.6 million of the most vulnerable people in Borno, Adamawa, and Yobe (BAY) states, requiring $910.2 million in funding.
It underscores the urgent need for lifesaving interventions while laying the groundwork for resilience and recovery. It is a result of extensive consultations with affected people, Government authorities, and partners, ensuring that our response is evidence-based and needs-driven.
As we launch the Nigeria 2025 HNRP, we are reminded of the escalating challenges and the profound resilience of Nigerians facing one of the largest and most complex humanitarian crises in the world.
From conflict-induced displacement to climate shocks, food insecurity, and disease outbreaks, Nigeria continues to grapple with overlapping emergencies that strain resources and test the limits of our humanitarian response. Yet, these challenges present an opportunity to rethink, reform, and realign our efforts for more efficient, impactful and sustainable outcomes.
The Nigeria 2025 HNRP is a strategic blueprint aimed at addressing these multifaceted crises. With an estimated 33 million Nigerians facing food insecurity, 1.8 million children at risk of severe malnutrition, and millions displaced across the country, the stakes are higher than ever.
Humanitarian needs extend far beyond the BAY states, affecting communities nationwide. The United Nations acknowledges these challenges and the urgency to address them.
However, limited resources and capacity constraints necessitate careful prioritisation to ensure the most effective use of available resources. Outside of the BAY states, a model is being developed that will jointly address humanitarian, development and peacebuilding needs. This with emphasis on development interventions addressing the underlying causes of vulnerability, reducing overall humanitarian needs.
Recognising that the approach used in the BAY states may not be suitable for all other regions, efforts outside these areas will focus on a coordinated response with development actors to address underlying vulnerabilities.
This strategy will be led by the government, leveraging national leadership and resources to ensure sustainability. A new model of coordination and response is being developed to achieve this goal.
The crises in Nigeria are rooted in a complex interplay of conflict, economic instability, and climate change. The BAY states remain the epicenter, with 7.8 million people in need, including displaced individuals and host communities. Conflict continues to drive displacement, disrupt livelihoods, and erode access to basic services.
At the same time, climate-related disasters, such as the devastating floods of 2024, have exacerbated vulnerabilities, destroying homes, farmland, and critical infrastructure.
These challenges are compounded by systemic inequities. Women and children face heightened risks, from gender-based violence to malnutrition and lack of access to education.
Girls and women are also often excluded from access to health care, livelihoods and decision-making processes. People with disabilities report feeling overlooked in aid distribution, highlighting the need for inclusive and equitable approaches. These disparities demand targeted interventions that prioritize the most marginalised.
Recognising the need for transformative action, the 2025 HNRP introduces key reforms to improve the efficiency and effectiveness of humanitarian responses. First, we aim to reduce transaction costs by localising aid delivery, channeling more resources through national and local organisations that better understand community dynamics. Empowering these organisations not only enhances local acceptance but also ensures faster, more trusted responses.
Second, it promotes a shift from reactive to anticipatory and proactive approaches to humanitarian action. By investing in early warning systems and pre-agreed trigger mechanisms, we can respond swiftly to predictable shocks such as floods and disease outbreaks. Allocating 5% of the budget to anticipatory action is a step toward minimising human suffering and resource wastage.
Third, we are committed to leveraging partnerships with development actors and the Government to address the root causes of vulnerability. By integrating humanitarian, development, and peacebuilding efforts, we can create durable solutions that reduce reliance on aid and promote long-term stability.
Finally, the plan seeks to diversify funding sources. Traditional funding mechanisms are no longer sufficient to meet growing needs. Innovative approaches, including private sector engagement and government-led initiatives, are essential to bridging the gap.
The success of the 2025 HNRP depends on the collective efforts of all stakeholders. Humanitarian actors must collaborate closely with the government, civil society, and affected communities to ensure that assistance is tailored, inclusive, and effective. Donors are called upon to sustain their commitment, recognising that their support is vital to driving the necessary reforms and innovations.
More than anything, we must challenge our perceptions of humanitarian assistance. It is not a standalone solution but a critical component of a broader strategy that includes development and peacebuilding. By aligning our actions with these principles, we can address immediate needs while paving the way for resilience and empowerment.
As we embark on this journey, let us draw inspiration from the resilience of those we serve. Their courage and determination remind us of the profound impact we can achieve through collective action.
I call upon all stakeholders to support the 2025 HNRP. Together, let us invest in humanity and leave no one behind.
Mohamed Malick Fall is the United Nations Resident and Humanitarian Co-ordinator in Nigeria.
Why NCC Approved 50% Tariff Adjustment Request by Operators
The Nigerian Communications Commission (NCC), pursuant to its power under Section 108 of the Nigerian Communications Act, 2003 (NCA) to regulate and approve tariff rates and charges by telecommunications operators, has granted approval for tariff adjustment requests by network operators in response to prevailing market conditions.
The adjustment, capped at a maximum of 50 per cent of current tariffs, though lower than the over 100 per cent requested by some network operators, was arrived at taking into account ongoing industry reforms that will positively influence sustainability.
These adjustments will remain within the tariff bands stipulated in the 2013 NCC Cost Study, and requests will be reviewed on a case-by-case basis as is the Commission’s standard practice for tariff reviews. It will be implemented in strict adherence to the recently issued NCC Guidance on Tariff Simplification, 2024.
Tariff rates have remained static since 2013, despite the increasing costs of operation faced by telecom operators. The approved adjustment is aimed at addressing the significant gap between operational costs and current tariffs while ensuring that the delivery of services to consumers is not compromised.
These adjustments will support the ability of operators to continue investing in infrastructure and innovation, ultimately benefiting consumers through improved services and connectivity, including better network quality, enhanced customer service, and greater coverage.
Recognising the concerns of the public, this decision was made after extensive consultations with key stakeholders across the public and private sectors.
The NCC has prioritised striking a balance between protecting telecom consumers and ensuring the sustainability of the industry, including the thousands of indigenous vendors and suppliers who form a critical part of the telecommunications ecosystem.
The NCC recognises the financial pressures faced by Nigerian households and businesses and remains deeply empathetic to the impact of tariff adjustments. To this end, the Commission has mandated that operators implement these adjustments transparently and in a manner that is fair to consumers. Operators are also required to educate and inform the public about the new rates while demonstrating measurable improvements in service delivery.
Additionally, the NCC reaffirms its dedication to fostering a resilient, innovative, and inclusive telecommunications sector. Beyond protecting consumers, the Commission’s actions are designed to ensure the long-term sustainability of the industry, support indigenous vendors and suppliers, and promote the overall growth of Nigeria’s digital economy.
As a regulator, the NCC will continue to engage with stakeholders to create a telecommunications environment that works for everyone—one that protects consumers, supports operators, and sustains the ecosystem that drives connectivity across the nation.
NAICOM, NCAA Inaugurates Committee on Aviation Insurance
The National Insurance Commission (NAICOM) and the Nigerian Civil Aviation Authority (NCAA) have established a joint committee on aviation related matters to drive insurance growth in the aviation sector in Nigeria.
The inauguration of the Committee was successfully held at the NAICOM Office in Abuja on Wednesday, January 22, 2025.
Mr. Olusegun Ayo Omosehin, the Commissioner for Insurance and CEO of the National Insurance Commission, was represented by Dr. Usman Jankara, the Deputy Commissioner Technical. Dr. Jankara warmly welcomed the team from Nigerian Civil Aviation Authority (NCAA) led by Mrs. Rominiyi F. Dorcas, the inauguration is marking the beginning of a new collaborative effort.
The Deputy Commissioner stressed that the National Insurance Commission’s primary responsibility is to regulate the insurance industry’s business activities and safeguard the interests of policyholders.
This comes in response to misconceptions that the Commission only serves the interests of insurance operators, rather than balancing the needs of both parties. By emphasising the Commission’s core mandate, the Commission aims to reassure the public that their protection is a top priority.
It was emphasised that the primary objective of the joint Technical Committee is to reaffirm the Commission’s long-standing commitment to safeguarding the interests of policyholders. In the event of any accident or incident, the Committee ensures that all affected third parties receive fair compensation and are properly indemnified.
The following are the terms of reference for the joint committee:
- Verification of certificate of Insurance and other insurance related documents of airline operators, affiliate agencies, and NCAA service providers
- Provide Technical support to NCAA on insurance matters.
- Co-ordinate/facilitate resolutions of complaints of airline operators on insurance covers and services during periodic meetings.
- Provide advice to NCAA on all aviation insurance related matters bordering on adequacy and validity.
- Coordinate trainings/workshop/awareness programmes for NCAA/NAICOM and its stakeholders on aviation insurance.
- Coordinate training on insurance and aviation matters.
- Organise and attend periodic meetings of both organisations.
- Carry out periodic review of the minimum insurance cover requirements by all persons/group of persons having a duty as operator/provider in the Aviation sector to maintain adequate insurance for their operations during periodic meetings.
- Organise and attend periodic meetings with airline operators and insurance providers.
- Carry out any other tasks as the Collaboration allows.
The DGM, Financial Health & Aviation Insurance, Mrs. Dorcas, the Leader of the NCAA Delegation, responded by making a commitment to thoroughly dedicate herself and her team to their responsibilities. She pledged to exhaust all efforts in ensuring the successful attainment of the committee’s objectives.
In conclusion, Jankara announced the inauguration of the joint committee, following the agreement on the terms of reference. He emphasised the need for flexibility and automation of processes, expressing confidence in the committee’s ability to deliver due to the caliber of its members.
Mr. Ajuyah Omeresan Alfred (Asst. Director Special Risk), in his vote of thanks, reaffirmed NAICOM’s unwavering commitment to ensuring the aviation sector operates efficiently and effectively, both now and in the future.
Heirs Insurance Group Empowers 500 School Children, Communities through ‘The Good Project’
L-R: Ayodeji Akinwande, Brand Manager, Heirs Insurance Group; Ngozi Okoli, Head, Marketing & Corporate Communications, Heirs Insurance Group; Hauwa Yahaya, Senior Partnership Manager, Slum2School Africa, and Oluyemi Alugo, Education and Innovation Manager, Slum2School Africa, at “The Good Project” event, a CSR initiative by Heirs Insurance Group in Makoko, Lagos.
Heirs Insurance Group, Nigeria’s fastest-growing insurance Group, has rolled out a project to empower underserved communities with the training and benefits inherent in upcycling, as part of its sustainability goals.
Tagged “The Good project”, Heirs Insurance Group sensitised communities on the benefits of converting waste materials to reusable items, thereby reducing the consequences of climate action and uplifting the financial status of people.
In addition, the insurance group provided school supplies and a cash donation to over 500 school children of Makoko community, Lagos.
The Good Plastic Project reaffirms the Group’s commitment to environmental sustainability and community development. The project was executed in partnership with Slum2School Africa and Eco Barter, which both share its vision for sustainability and social impact.
Speaking about the project, Niyi Onifade, Sector Head, Heirs Insurance Group, said: “Through this project, we are demonstrating the potential of sustainability, emphasising its role in improving lives while preserving the environment. We are not only reducing waste and contributing to the upliftment and well-being of communities, we are also creating awareness for the financial benefits that upcycling offers.”
Onifade further reiterated that the monetary donation and school supplies were intended to provide hope and put smiles on the faces of children and their parents, especially at the start of a new year when families need all the support they can get.
The Good Project forms part of Heirs Insurance Group’s flagship sustainability initiatives, as it continues to lead by integrating sustainability into its core operations, demonstrating the power of corporate responsibility to drive meaningful change.
Heirs Insurance Group is the insurance subsidiary of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents. With a rapidly expanding retail footprint and an omnichannel digital presence, Heirs Insurance Group serves both corporate and individual customers across Nigeria.
Linkage Assurance CFO Becomes Pioneer Chairman of ICAN-NIA Chapter
L-R: Bola Odukale, Director-General/CEO, Nigerian Insurers Association (NIA); Etofolam Felix Osuji, 2nd vice president, Institute of Chartered Accountants of Nigeria (ICAN); Emmanuel Otitolaiye, chairman, ICAN NIA Chapter; Davidson Alaribe, Diamond President, ICAN; Olufunso Otitolaiye, and Njum Uma-Onyemenam, Accountant-General of Abia State, during the inauguration of ICAN NIA Chapter by the ICAN President at the Insurers House in Lagos.
Dr. Emmanuel Otitolaiye, Chief Financial Officer (CFO) of Linkage Assurance Plc has been invested the Pioneer Chairman of the Institute of Chartered Accountants of Nigeria (ICAN) -Nigerian Insurers Association (NIA) Chapter.
ICAN-NIA Chapter was recently inaugurated by the 60th President of ICAN, Davidson Alaribe in company of top accounting and insurance professionals in Nigeria at a ceremony held at Nigeria’s Insurers House in Victoria Island, Lagos.
Otitolaiye in his acceptance speech at the event said: “It is with great delight, sense of responsibility and immense gratitude to the Almighty God that I stand before this distinguished audience, today, to accept my election and formal investiture as the Pioneer Chairman of the ICAN-NIA Chapter.”
He said, him and his executive committee are committed to upholding the highest standards of professionalism, promoting excellence in the field of accounting, and advancing the interests of members.
“As we navigate the ever-evolving landscape of business and finance, we must embrace innovation and stay at the forefront of emerging trends and technologies. The challenges we face require us to adapt, evolve, and continuously expand our knowledge and skills.”
Dr. Otitolaiye, pledging further said: “As chairman, I am dedicated to fostering a culture of lifelong learning and professional development, ensuring that our members have access to the resources and support they need to thrive in a rapidly changing world.”
He stated that his administration will focus on Membership Drive, Training and Events, through collaboration and partnerships.
“Our Chapter will actively seek opportunities to collaborate with organisations, regulatory bodies, and academia to strengthen the profession, advocate interest of members, and shape the future of the accounting profession in Nigeria.”
Davidson Alaribe, the Diamond President ICAN in his speech at the investiture said, with the inauguration of ICAN-NIA Chapter, accountants will be able to come together and contribute to the development of the profession and the economy as a whole.
While commending Dr. Emmanuel Otitolaiye, the new chapter for working so hard and building himself in the insurance and accounting profession to this level, he said the younger accountants should borrow a leaf from the new chapter chairman.
He urged the younger people to take their destiny into their hands and define their future. “Take a bold step and redefine your future by building yourself for a better future.”
Dr. Emmanuel Otitolaiye, who was born on 4th September, 1972 in Egbeda-Egga Ijumu Local Government of Kogi State is a widely exposed finance expert with vast and well-rounded accounting and financial management experience cutting across financial, statutory reporting, performance management and business planning in insurance, manufacturing, and consulting.
Prior to joining Linkage Assurance Plc as CFO in December 2018, he was Head, Finance & Performance Management Group at Cornerstone Insurance Plc from January 2014 to November 2018. A role that has direct responsibilities for the supervision of the finance functions of the Group.
Dr. Otitolaiye worked at Alliance & General Insurance Plc – a member of the Fidelity Bond Group and Node Solutions Ltd as the Chief Finance Officer and Chief Operating Officer in respectively where he was responsible for all strategic and tactical matters as they relate to budget management, cost benefit analysis, forecasting needs, deal analysis, negotiations, and investor’s relations.
He joined FBN Life Assurance limited in 2010 as the pioneer Head of Finance where he successfully coordinated all activities towards securing operational funds from shareholders for the smooth take-off of the company and also championed the set-up of Standard Operating Procedure (SOP) covering all areas of the company’s activities.
Emmanuel started his working career with CFAO Nigeria Plc in 2000 as Credit Control Officer and later worked as the National Credit Control Manager at PZ Cussons Nigeria Plc from 2006 -2008 before joining Guaranty Trust Assurance (now Axa Mansard Insurance Plc) as Head, Management Account a positioned he held till 2010.
A multi-disciplinary professional, he is a Fellow of both Institute of Chartered Accountants of Nigeria (FCA) and Chartered Institute of Taxation of Nigeria (FCIT), Associate member, Chartered Insurance Institute of Nigeria (ACII) and Associate, Chartered Institute of Insurance Brokers (ACIB). .
He holds a Higher National Diploma in Banking and Finance from Lagos State Polytechnic in 1998, Master degree in Business Administration (MBA) from University of Ado –Ekiti, BSc Accounting from University of Lagos, MSc Accounting from Babcock University and PhD Accounting also from Babcock University.
Dr. Otitolaiye a man of many parts is currently the Chairman, Accounting Technical Committee of Nigeria Insurance Association (NIA-ATC) – an umbrella body of all Chief Financial Officers and Finance staff in insurance and reinsurance companies in Nigeria.
President, Egbeda-Egga Development Union, Financial Secretary, Agungi East Resident Association and many others. He has served in various ICAN committees e.g. ATSWA, Induction, Accountant Investigating Panel.
He has attended several top management training courses at home and abroad.