L-R: Shedrach Odoh, Director, Sovereign Trust Insurance Plc, Eric Balogun, Independent Director, STI Plc, Abimbola Oguntunde, Chairman, Sovereign Trust Insurance Plc, Ugochi Odemelam, Executive Director, Marketing and Business Development, STI Plc, Olusegun Ayo Omosehin, Commissioner for Insurance, National insurance Commission, NAICOM, Emi Faloughi, Director, STI Plc and Ekerete Ola Gam-Ikom, Deputy Commissioner for Insurance, Finance & Admin, NAICOM.
NIIRA Strengthens Insurance Framework to Enhance Contribution to GDP
L-R: Head of Operations, Parthian Pensions Limited, Mr. Adetunbi Ashaye; Group Deputy Managing Director, Afrinvest, Victor Ndukauba; Managing Director/CEO, Rex Insurance Ltd, Mrs. Ebelechukwu Nwachukwu; immediate past Commissioner for Insurance and Chairman of the occasion, Olorundare Sunday Thomas; Chairperson, Nigerian Association of Insurance and Pension Editors (NAIPE), Nkechi Naeche-Esezobor; Director, Legal, Enforcement and Market Development, NAICOM, Talmiz Usman and Head, Corporate Communications, National Pension Commission (PenCom), Mr. Ibrahim Buwai, during the 2025 NAIPE annual conference/10th anniversary, themed ‘Strengthening Insurance and Pension Frameworks for Better Economy,’ in Lagos.
Experts have said that the newly signed Nigerian Insurance Industry Reform Act has strengthened the ability of the sector to improve its contribution to the nation’s Gross Domestic Product.
The industry experts who spoke at the 10th annual conference of the Nigerian Association of Insurance and Pension Editors maintained that the new legislation could position insurance as a key driver of Nigeria’s vision of building a $1 trillion economy.
Signed into law by President Bola Tinubu in July 2025, NIIRA 2025 is designed to expand insurance penetration and improve industry stability.
Commissioner for Insurance/CEO, National Insurance Commission (NAICOM), Mr. Olusegun Omosehin, said that the NIIRA will lead to economic growth, employment generation, and more local retention capacity.
The Commissioner who was represented by the Director, Legal, Enforcement, and Market Development, NAICOM, Dr Talmiz Usman, said: “One of the key things is the repositioning of the sector in terms of the financial muscle. It has now introduced two tiers of capital. The first is the minimum capital requirement. Now the minimum capital has been shored up to N10 billion for Life, N15 billion for Non-Life, and N35 billion for Reinsurance. What this translates to is that insurance companies will have more capacity, higher businesses, take care of higher risks and retain local content. This will also lead to economic growth, employment generation, and more retention of local capacity domestication.
“The second layer is the Risk-Based Capital. This is not a one-size-fits-all. It is time for operators to provide capital that matches the level of their risk exposure. What the regulator is expected to do is to determine that, for an underwriter to underwrite any level of business, you must have a certain level of capital threshold in relation to your risk exposure. What that translates to is that, apart from what we are seeing in terms of that, yes, the company can write, it also translates to building confidence in the insurance sector, and I am sure that for the company to be able to underwrite this kind of business, it has the financial capability to do it.”
Usman asserted that with the NIIRA 2025, companies will be able to pay claims, saying, “The role of the regulator is to make sure that operators pay claims. And that will now boost the trust in the insurance sector.
Another thing that the new Act is encouraging is simplicity of operations. In this case, even the Proposal Form should be as simple as possible for the prospect to be able to understand what he/she is going into.
“The law also provides that before the commencement of your policy, you must issue a policy document which contains the terms of the contract. This was not captured in the previous legal instruments. The law says the policy document must be in simple and clear terms that anybody can see, read and understand. This alone will build trust and boost public confidence in the insurance sector.”
Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market
Niteon, one of Nigeria’s largest digital export marketplaces, has announced the launch of Niteon Capital, the first neobank built specifically for African manufacturers.
Founded by Nigerian entrepreneurs, Tony Nwose and Daniel Chukwuemelie, the US-based startup has already built a reputation for helping verified African manufacturers, spanning agriculture, fabrics and minerals products connect seamlessly to international buyers.
With operational footprints in the US, UK, Canada, and South Asia, and a recent FDA Global Partner License unlocking export access to the United States, Niteon is already a formidable force in African digital trade.
The launch of Niteon Capital (www.niteoncapital.com), comes as the company gears up for its $1.5 million equity and $5 million debt seed round, signalling a bold expansion into fintech infrastructure to complement its fast-growing marketplace, and taking aim at a deeper, more entrenched problem: Manufacturers’ finance.
“African manufacturers are doing the hard work, but they’re being underserved by traditional banks. There’s no financial infrastructure built for them,” says CEO Tony Nwose. “Niteon Capital changes that.”
The Manufacturer’s Bank: Tailored Trade Finance at Last
Unlike conventional digital banks, Niteon Capital isn’t designed for just anyone. It’s engineered specifically for manufacturers and exporters. This includes:
- Invoice & Procurement Financing: To help factories fulfill large purchase orders without cash flow delays.
- Sharia-Compliant Financing: Opening access to ethical financing models for manufacturers across Northern Nigeria and other Islamic markets.
- Export Wallet Accounts: A revolutionary new financial tool that allows manufacturers to operate export-ready accounts with built-in tax advantages, carbon credit earnings, and multi-currency support.
- Infrastructure Loans: Medium-term financing to upgrade machinery, facilities, or logistics capabilities—ensuring African manufacturers can meet global standards.
The entire system is embedded directly into Niteon’s growing export ecosystem, reducing friction between buyers, sellers, logistics providers, and now… banking.
Positioned for Global Scale
The launch of Niteon Capital marks a key inflection point in Niteon’s trajectory, from a B2B marketplace into a comprehensive export ecosystem. It’s not just about matching buyers and sellers anymore. It’s about solving the systemic constraints that have stifled Africa’s trade capacity for decades.
Backed by global players like Seedstars, Tomi Davis, TVC Labs, Zenith Bank, and the Development Bank of Nigeria, Niteon is now positioning itself as a TradeTech leader, building infrastructure that rivals anything on the continent.
“We’re not just scaling a platform,” co-founder Daniel Chukwuemelie adds. “We’re building the financial engine behind Africa’s industrial growth story.”
Next Stop: Seed Round
As Niteon rolls out Niteon Capital across its network, the team has opened its $1.5m equity and $5m debt seed round to strategic partners looking to accelerate African trade.
The funding will power neobank expansion, licensing, deeper AI integration, and onboarding of over 20,000 manufacturers by Q4 2025.
“This is not just another fintech product. It’s a blueprint for how Africa will finance its own industrial future from factory floor to global warehouse.”
Designing the Future: Arc Christian Benimana, Prof Taibat Lawanson to Headline Ecobank Design and Build 2025
Ecobank Nigeria has announced that celebrated architect Arc. Christian Benimana and leading urban planning scholar Prof. Taibat Lawanson will headline the Ecobank Design and Build Exhibition 2025, taking place from September 24 to 28 at the Ecobank Pan African Centre (EPAC), Victoria Island, Lagos.
Arc. Benimana, co-founder of the African Design Centre and principal at MASS Design Group, is internationally recognized for advancing socially responsive and sustainable African architecture. He will deliver a keynote address titled “Designing the Future” on Day 3 of the exhibition.
Prof. Lawanson, Leverhulme Professor of Planning and Heritage at the University of Liverpool, is widely respected for her groundbreaking research on African urban informality, housing, and spatial justice. She will lead a session on “Designing Better Cities and Homes in Nigeria” on Day 2.
The exhibition’s knowledge exchange sessions will also feature:
- “International vs. Local: The Sourcing Question for Interior Design” with Patrick Koshoni, Tola Akerele, Aishat Lawal, and Adeyemo Shokunbi.
- “Women in Design & Architecture” with Jacqueline Aki, Safiya Yahaya, Nwamaka Okoye, and Sandra Edoho.
- Insights from Malik Afegbua, Remi Dada, Adewunmi Adegbola, and Omon Anenih, exploring the future of design, technology, wellness, and sustainability.
Omoboye Odu, Head of SMEs at Ecobank Nigeria, noted:
“These sessions will deliver practical insights and fresh perspectives that can shape the future of design, construction, and architecture across Africa.”
The Ecobank Design and Build Exhibition 2025 underscore the bank’s broader commitment to empowering entrepreneurs, driving financial inclusion, and connecting local businesses with global opportunities. Ecobank Nigeria continues to invest in the growth of SMEs through initiatives such as the Adire Lagos Experience, +234 Art Fair, Ecobank National Schools Team Chess Championship, and Oja Oge 2025. These efforts are complemented by extensive training and empowerment programs designed to strengthen businesses nationwide.
Ecobank Nigeria, a subsidiary of the leading pan-African banking group, looks forward to welcoming industry professionals, entrepreneurs, and enthusiasts to this flagship event.
Sovereign Trust Insurance Wins Enactus Catalyst Award
From L-R: Victor Akinfala, Head Partnerships & Special Projects, Enactus Nigeria, Kayode Adigun, Executive Director, Finance & Corporate Services, Sovereign Trust Insurance Plc, Ugochi Odemelam, Executive Director, Marketing & Business Development, Sovereign Trust Insurance Plc, Micheal Ajayi, Country Director, Enactus Nigeria, Segun Bankole, DGM/Head, Corporate Communications & Investor Relations, Sovereign Trust Insurance Plc and Baribafe Aloega, Programs Officer, Enactus Nigeria at the presentation of the Catalyst Award to Sovereign Trust Insurance Plc in recognition of the company’s invaluable support for the Enactus Programs in Nigeria over the years.
Enactus Nigeria turned 25 years in 2025.
Sovereign Trust Insurance Plc recently received the Enactus Catalyst Award for being a great supporter of both Enactus Nigeria and the global platform over the years.
Enactus’ global network drives their impact and it is a network of 33 independent offices that provide curricular innovations, student team support and funding for participating countries. Enactus is also a network of leaders committed to using business as a catalyst for positive social and environmental impact.
The organisation invests in students who take entrepreneurial action for others in the society with the aim of creating a better world for everyone.
SEC DG: Commission Considering Gradual Implementation of ISSB Standards
The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has disclosed that the Commission is considering a gradual implementation of the global sustainability disclosure standards developed by the International Organisation of Securities Commissions (IOSCO).
Agama, who spoke at an investors’ roundtable on the International Sustainability Standards Board (ISSB) over the weekend, explained that Nigeria, having participated in the taskforce that developed the standards, would continue to support the four pillars on which they were built.
He noted that Nigeria, with its vast natural resources and growing population, “is particularly vulnerable to climate change and is simultaneously pursuing an ambitious sustainable finance agenda.”
While commending the ISSB framework, Agama stressed that Nigeria would not simply “copy and paste” the standards, but would adopt a carefully tailored approach.
“This means: capacity building—working with issuers, auditors, and preparers to ensure they understand and are ready for the new requirements; phased implementation—considering a graduated approach, perhaps beginning with larger, listed entities before expanding to others; assurance framework—developing a robust system for the verification of disclosures to guarantee their credibility; and alignment with local realities—ensuring the global baseline is applied in a way that is appropriate and proportional for our market, while maintaining the core goal of global comparability,” he explained.
Agama added that the Commission opted for this method “because we believe that embracing this global baseline will enhance the attractiveness of the Nigerian capital market. It signals to international investors that we are serious about transparency, governance, and managing long-term risk. It has transformed the ISSB from a promising new initiative into the definitive global framework for sustainability disclosures.”
According to him, “the case for adoption is clear: for global comparability, for investor trust, for managing systemic risk, and for reducing complexity. This is no longer a question of if, but of how and when. The journey to a sustainable global economy requires a common language. The ISSB has provided that lexicon. IOSCO has called us to speak about it. At SEC Nigeria, we have answered that call.”
He reaffirmed the Commission’s commitment to working with stakeholders domestically and across the IOSCO network to implement the standards effectively.
“The global perspective is one of unity and decisive action. By adopting the ISSB standards, we are not just complying with a global trend; we are actively building a more stable, transparent, and sustainable financial future for Nigeria, for Africa, and for the world,” he said.
Universal Insurance MD/CEO, Jeff Duru, Bags CIBN Associate Membership
Dr. Jeff Duru
Managing Director/CEO
Universal Insurance Plc
The Managing Director/CEO of Universal Insurance Plc, Dr. Jeff Duru has been inducted as an Associate member of the Chartered Institute of Bankers of Nigeria (CIBN).
The event, which took place recently in Lagos had 1,242 new members inducted into its ranks of Chartered Bankers and Microfinance Certified Professionals at the 2025 Stream II induction ceremony in Lagos.
The theme of this year’s induction is “The Smart Banker’s Compass: Innovate, Adapt and Solve Like a Pro”, was described as a celebration of excellence, perseverance, and professional growth in Nigeria’s banking sector.
Prof. Pius Olanrewaju, President and Chairman of Council of CIBN, in his welcome address, said the inductees had demonstrated discipline, commitment and resilience in meeting the rigorous standards of the profession.
“True innovation extends far beyond digital tools. It is a transformative mindset that must permeate everything, from product design and process optimisation to how we build and sustain stakeholder trust,” he said.
The CIBN president urged the new members to be exemplary professionals who will drive the future of banking and finance in Nigeria and beyond.
Commenting on his induction into the prestigious institute, Dr. Jeff said: “I am happy to be inducted as an Associate member of the Chartered Institute of Bankers of Nigeria (CIBN). As an insurance expert, I gained a lot from the program. With my PhD in Finance and PhD in Business Administration with concentration on Insurance, coupled with my Fellow of the Chartered Insurance Institute of Nigeria (CIIN) and Associate of the CIBN, I am now a complete financial expert. The syllabus was rich in financial and risk management. It has broadened my horizon and given me that experience.”
Sterling One Foundation CEO, Olapeju Ibekwe, Joins Board of UN Global Compact Network Nigeria Ahead of UNGA 80
Olapeju Ibekwe, Chief Executive Officer of Sterling One Foundation, has been appointed to the Board of the United Nations Global Compact Network Nigeria (UNGCNN), a move that underscores her contributions in shaping Africa’s sustainable development agenda.
The announcement, made via UN Global Compact Network Nigeria’s official channels, comes ahead of the 80th United Nations General Assembly, where Olapeju Ibekwe is expected to engage with leaders from the government, private sector, and civil society to further help forge more effective partnerships that accelerate Africa’s progress towards Agenda 2030.
The appointment, highlights Olapeju Ibekwe’s track record in advancing sustainable solutions across education, health access, and women and youth empowerment. Under her leadership, Sterling One Foundation has built global affiliations and local impact, reaching thousands of beneficiaries while influencing policy and partnerships across Africa.
Experts note that the appointment comes at a critical time. With only 15% of the Sustainable Development Goals (SDGs) on track globally, Africa faces a $200 billion annual financing gap. The challenges extend beyond funding — requiring political will, intentional private sector engagements, courage to execute decisions, and effective cross-sector collaboration.
Commenting on the appointment, she described it as an opportunity to further strengthen the localisation of the SDGs, a cause she has championed through the Sterling One Foundation.
The development also strengthens ties to the UN Global Compact Principles, as well as the African Union’s Women and Youth Financial and Economic Inclusion (WYFEI) 2030 initiative — both of which emphasize inclusive growth and responsible private sector engagement.
Observers say the appointment underscores the importance of convenings like the Africa Social Impact Summit (ASIS), where Olapeju Ibekwe plays a central role in mobilizing governments, businesses, and civil society to forge partnerships that unlock Africa’s potential.
With this new role, Olapeju Ibekwe is poised to bring grassroots experience and continental insights into global conversations, reinforcing the view that Africa is not just a recipient of aid but a driver of innovation and solutions for sustainable development.
The UN Global Compact Network Nigeria is a local chapter of the world’s largest corporate sustainability initiative, mobilising businesses and organisations to align their strategies and operations with universal principles and to take action to advance the SDGs.
FNITCC Atlanta: Fidelity Bank to Spotlight Fintech’s Role in U.S. – Africa Trade
Tier-one lender Fidelity Bank Plc will host a high-profile panel session titled “Digital Railroads: Powering U.S.–Africa Commerce Through Fintech” at the upcoming Fidelity Nigeria International Trade and Creative Connect (FNITCC) in Atlanta, USA.
The session, scheduled for Friday, 19 September 2025, will explore how fintech is reshaping cross-border trade by enabling seamless payments, improving access to finance, and driving financial inclusion across Africa and the diaspora.
The panel will bring together some of the brightest minds in digital finance including: Aisha N. Ahmad, CFA, Former Deputy Governor, Central Bank of Nigeria; Seyi Ebenezer, Founder of Payaza Africa, and a seasoned fintech entrepreneur with over 15 years of experience scaling payment gateways across 20 African countries, Canada, the USA, and UAE; and Charles Oligbo, Founder & CEO of Sawport, an AI-powered platform designed for real-time customer engagement in the diaspora and on the continent.
Speaking ahead of the session, Isaiah Ndukwe, Divisional Head, Agric. and Exports, Fidelity Bank Plc, highlighted fintech’s unique role in unlocking Africa’s trade potential:
“The African Continental Free Trade Area (AfCFTA) is projected to boost intra-African trade by more than 50% by 2030. But challenges like fragmented payment systems, currency conversion, and limited trade finance continue to hold businesses back.
“Fintechs are uniquely positioned to address these gaps—enabling real-time, low-cost cross-border payments, offering alternative financing for SMEs, creating digital identities for exporters, and facilitating diaspora remittances and investments. This is why we’re putting fintech at the heart of discussions at FNITCC Atlanta.”
Hosted in partnership with AFRICON—the premier global gathering of African innovators and changemakers—FNITCC Atlanta will run from 18 to 20 September 2025 at the Omni Atlanta Hotel at Centennial Park, Georgia, USA. The event is expected to attract over 3,000 participants, including investors, trade agencies, exporters, and diaspora professionals, with projected trade and investment deals of more than US$400 million.
Building on the success of previous editions in London (2022) and Houston (2023), this year’s conference underscores Fidelity Bank’s commitment to leveraging fintech as a catalyst for U.S.–Africa commerce, while creating new opportunities across commodities, technology, and the creative industries.
According to the African Development Bank, Africa’s fintech revenues are projected to hit US$30 billion by 2025—a clear sign that digital finance is not just powering transactions but also rewriting the future of trade.
Interested businesses and participants are encouraged to register for the conference at www.fidelitybank.ng/fnitcc.
About Fidelity Bank
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.
24th CRMI Int Confab: Shettima, Ugwuoke, Cardoso, Edun, Push for Home-Grown Risk Solutions
L-R: Registrar/CEO, Chartered Risk Management Institute of Nigeria (CRMI), Victor Olannye; Permanent Secretary, Special Duties, Federal Ministry of Finance, Raymond Omachi; Executive Director/Chief Risk Officer, Fidelity Bank Plc and President/Chairman of Council, CRMI, Kevin Ugwuoke; Technical Adviser to the President on Economic and Financial Inclusion, Nurudeen Abubakar Zauro; and Director, Risk Management, Central Bank of Nigeria (CBN), Blaise Ijebor; at the CRMI 24th Annual International Conference in Lagos recently.
Vice President Senator Kashim Shettima has called on the African Union (AU), African Development Bank (AfDB), and Afreximbank to support the efforts of the Chartered Risk Management Institute of Nigeria (CRMI) in tackling the growing wave of global risks confronting Africa.
Speaking at the 24th International Conference of CRMI in Lagos, the Vice President, represented by the Technical Adviser to the President on Economic and Financial Inclusion, Dr. Nurudeen Zauro, emphasized the need for strengthened continental collaboration in addressing risks ranging from climate change and cybersecurity to pandemics, terrorism, and disruptive technologies.
“For over two decades, the Institute has been a beacon of foresight, resilience, and preparedness,” Shettima said. “Risk management is not just a profession—it is a discipline of national importance. The establishment of the Federation of African Risk Management Association marks a historic milestone, positioning Africa to address risks on its own terms.”
The Vice President reaffirmed the Federal Government’s commitment to risk mitigation, noting ongoing initiatives such as #SheIsIncluded, launched in January 2025, to support Nigerian women’s inclusion and resilience in economic participation. He also stressed the importance of community-based early warning systems for floods and droughts, microinsurance schemes, and social protection for farmers as tools for building resilience and national prosperity.
Speaking at the conference themed, “Global Risks, Local Solutions,” the President/Chairman of CRMI’s Governing Council, Kelvin Ugwuoke, underscored the importance of adopting homegrown strategies in addressing global disruptions such as climate change, cyber threats, pandemics, food insecurity, and the implications of artificial intelligence.
“We are witnessing risks driven by climate change, cyber threats, Artificial Intelligence, and geopolitical conflicts such as the Russia–Ukraine war, which have direct consequences on food security and economic stability,” Ugwoke said. “Our mandate is clear: to develop home-grown solutions that help Nigeria and Africa withstand and prosper amid global uncertainties.”
Ugwuoke who also serves as Executive Director, Risk Management at Fidelity Bank Plc, also disclosed that a bill is currently before the National Assembly to formally entrench risk management into national policy, underscoring CRMI’s advocacy for stronger integration of risk principles in both public and private sector decision-making.
Also speaking at the Conference, the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, represented by Dr. Blaise Ijebor, Director of Risk Management at the CBN, commended CRMI’s leadership in advancing risk management in Nigeria.
“Global risks do not respect borders. Our reforms are designed to integrate risk awareness into financial planning, ensuring economic stability amid evolving uncertainties,” he stated.
Similarly, Minister of Finance, Mr. Wale Edun, represented by Permanent Secretary Raymond Omachi, highlighted the necessity of recent policy reforms such as fuel subsidy removal and exchange rate unification. “Risk management is not about predicting the future, but preparing for it. The future will not be defined by the storms we face, but by the solutions we craft together,” he said.
The 24th International CRMI Conference convened policymakers, business leaders, and experts to deliberate on localized strategies for addressing global risks. It reinforced Nigeria’s leadership role in advancing risk management as a critical tool for economic stability, resilience, and sustainable development.
About CRMI
The Chartered Risk Management Institute of Nigeria (CRMI), established by Act No. 39 of 2022 and founded on March 29, 2000, is the national professional body for risk management in Nigeria.
The Institute promotes best practices, education, research, and advocacy in risk management across industries. Through its flagship Chartered Risk Manager (CRM) certification, professional training, and Mandatory Continuing Professional Education (MCPE), CRMI sets the national standard for excellence in risk management and supports a community of professionals dedicated to advancing the discipline.
Leadway Holdings Acquires PAL Pensions to Strengthen Footprint in Pension Sector
Leadway Holdings Limited, one of Nigeria’s foremost and most diversified financial services groups, has announced that it has reached an agreement to acquire 100% equity interest in Pensions Alliance Limited (PAL), a leading Pension Fund Administrator (PFA).
The transaction, which includes the transfer of ownership by FSDH Holding Company Limited (FSDH) and Africa Alliance Insurance Plc, marks a milestone consolidation in Nigeria’s pension industry.
This acquisition of PAL Pensions which recently celebrated the dual milestone of its 20th anniversary and crossing of the N1trillion Asset Under Management (AUM), underscores Leadway Holdings’ strategy of diversification and sustainable growth.
By integrating PAL with Leadway Pensure, the Group creates one of the largest and most resilient pension fund administrators with a reinforced capacity to deliver more value to Nigerians.
The move further expands Leadway’s nationwide reach, positioning it to capture future growth in a pension market with immense potentials. The combined strength in governance, innovation, and customer reach promotes the collective goal of financial inclusion, delivers long-term value to stakeholders, and contributes to the stability of Nigeria’s financial sector.
Commenting on the transaction, Tunde Hassan-Odukale, Group Managing Director, Leadway Holdings Limited, said: “This milestone is more than a transaction, it is a reaffirmation of our belief in the future of Nigeria’s pension industry and our responsibility to help contribute to its growth. By bringing PAL and Leadway Pensure together, we are building not only scale, but resilience, trust, and broader access for more Nigerians to create wealth. At Leadway, we remain guided by a vision of service that balances innovation with integrity, and ambition with inclusivity. This acquisition reflects our commitment to creating lasting value – for our customers, the industry and for the nation.”
Speaking on the development, Segun Odusanya, Group Managing Director FSDH affirmed that the decision was a strategic one taken in line with the global vision of the organisation, with full consideration of the long-term interests of both organisations factored.
“This decision reflects our long-term strategy to sharpen our portfolio focus while ensuring PAL Pensions is well positioned for sustainable growth,” he said.
He further expressed confidence in the vision and strength demonstrated by Leadway Holdings all through the process, affirming that PAL Pensions is indeed being entrusted into capable hands. Also reacting to the development, Sa’adu Jijji, Managing Director, PAL Pensions, expressed his appreciation for the seamless manner with which the transition has been handled, with particular focus placed on protecting the customers, employees and stakeholders of PAL Pensions.
“Our transition from PAL Pension into the Leadway ecosystem, without doubt, opens the door to industry-focused collaboration that is bound to deliver a wider range of financial solutions, more growth, greater impact and enhanced value for all stakeholders in PAL Pensions as we continue to deliver the stellar services we are renowned for.”
The transaction, which remains subject to regulatory approvals, marks a pivotal moment for Leadway Holdings as it strengthens its footprint in Nigeria’s financial services sector.
By unifying PAL with Leadway Pensure, the Group is better positioned for continued growth and industry leadership by creating one of the country’s largest and most resilient pension platforms anchored on governance, trust, and customer value.
As integration progresses under the guidance of PenCom and Leadway’s leadership, contributors and stakeholders can look ahead with confidence to a stable, transparent, and sustainable financially secured future.
About Leadway Holdings Limited
Leadway Holdings Limited is a diversified non-operating financial services group with market-leading positions across insurance, pensions, asset management, trusteeship, and investment solutions.
Since its incorporation in 1970, Leadway has evolved from a traditional insurer into a broad-based financial services platform with interests spanning general and life insurance, pensions, wealth and asset management, health insurance, and hospitality.
For over five decades, the Group has built a reputation for reliability, integrity, innovation, and strong governance, consistently delivering customer-focused solutions that help individuals and institutions protect, grow, and transfer wealth.
Today, Leadway Holdings oversees its portfolio of businesses as one of Nigeria’s most trusted and resilient financial services groups.
PenOp Hosts Session on Liver Damage Prevention, Management
The Pension Fund Operators Association of Nigeria (PenOp) recently hosted an insightful knowledge-sharing session on liver damage, its prevention, and management.
The virtual session, which was introduced by Adaobi Okoye, Head of Human Resources at PenOp, featured Dr. Akinkumi Ilori, a seasoned medical doctor and public health expert. The session attracted over 300 participants from various pension operators and provided a practical platform for learning, awareness, and engagement.
The session began with an overview of the liver’s critical functions, including detoxification, metabolism, and vitamin storage, emphasizing its central role in overall health.
Ilori highlighted the global prevalence of liver disease and the urgent need for preventive strategies to combat rising mortality rates.
He outlined the major causes of liver damage, such as viral hepatitis, excessive alcohol consumption, non-alcoholic fatty liver disease, drug-induced injury, and autoimmune conditions.
Ilori also explained the differences between types of hepatitis, available vaccines, and early warning symptoms, stressing that prevention and timely medical intervention remain essential in reducing long-term complications.
On lifestyle risks, he clarified that there is no safe level of alcohol consumption and noted obesity as a leading contributor to liver disease, alongside cardiovascular conditions and type 2 diabetes. He also discussed diagnostic methods such as liver function tests, imaging techniques, and biopsies, which are critical in detecting and monitoring liver conditions.
Participants were further guided through potential complications of untreated liver disease, including cirrhosis, liver failure, portal hypertension, hepatocellular carcinoma, and hepatic encephalopathy. The presentation emphasized the role of lifestyle changes such as balanced nutrition, regular exercise, and responsible medication use in both prevention and management.
The webinar also touched on broader aspects of liver health, including transplant procedures, living donor opportunities, and the importance of annual wellness checks.
Ilori debunked myths around detox teas and supplements, reiterating that sustainable lifestyle habits are more effective than quick fixes. Other discussions explored risks linked to steroids, energy drinks, and environmental factors such as aerosols and perfumes.
The Q&A session saw active engagement from attendees, with questions on vaccination, genetic factors, liver cysts, and organ donation.
Ilori provided detailed, practical responses, making the session both dynamic and highly interactive.
In closing, participants were encouraged to prioritise routine health checks, adopt safe practices, and promote liver health awareness within their organisations.
The webinar ended with an announcement of PenOp’s upcoming training sessions in September, including a data protection workshop for pension industry employees.Top of FormBottom of Form
These regular knowledge sharing sessions are part of PenOp’s efforts in improving the knowledge base of industry practitioners and creating an opportunity for networking, engagements and knowledge exchange
About PenOp
Pension Fund Operators Association of Nigeria (PenOp) is an independent, non-governmental, non-political and non-profit making body.
PenOp was established to promote the operations of the pension industry, provide for self-regulation and ensure that international best practices relating to the industry are observed by the operators registered in Nigeria.
It is the umbrella association for all the Licensed Pension Fund Custodians, Pension Fund Administrators and Closed Pension Fund Administrators (PFCs, PFAs and CPFAs) operating in Nigeria.
Leadway Group Drives Dialogue on Nigeria’s New Tax Reforms, Compliance Strategies
Leadway Group, one of Nigeria’s leading non-banking financial services providers, is driving strategic discourse to equip individuals and businesses with valuable insights into these policy changes, highlighting their implications and outlining actionable strategies for compliance while maximising opportunities under the updated laws.
The engagement, titled “Understanding the New Tax Reforms and Implications,” was moderated by Yetunde Fadipe, Group Head of Tax at Leadway Holdings.
The interactive high-powered session, featuring Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, attracted participation from over five hundred individuals and businesses.
The plenary emphasised the need to simplify Nigeria’s complex tax environment, broaden the tax base, enhance transparency, and alleviate the burden on compliant taxpayers. The speakers shared insights about key reforms that directly affect small and medium-sized enterprises (SMEs), digital businesses, and individuals. Additionally, the session shared key compliance strategies to promote long-term financial sustainability.
Olusakin Labeodan, MD/CEO of Leadway Pensure, in his opening remarks, reinforced Leadway’s leadership in shaping national conversations:
“Our role extends beyond simply providing financial services. We recognise the importance of empowering individuals, businesses, households, and the broader economy to utilise financial tools and policies for creating sustainable livelihoods. By bringing together platforms like this, we ensure that our stakeholders are not only well-informed but also equipped to succeed in an increasingly complex and dynamic regulatory environment.”
Speaking during the webinar, Mr. Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, explained that the reforms will put more money in the pockets of individuals, reduce the cost of doing business, and remove the barriers that make small companies uncompetitive. This means individuals will have more disposable income, and businesses can reinvest in growth rather than being weighed down by multiple taxes.
He further emphasised the government’s focus on fairness and inclusivity: “These reforms are not just about raising revenue; they are about creating a simpler, more transparent, and equitable tax system. If we get compliance right, we can unlock growth for businesses, strengthen the economy, and build public trust in the system.
Also speaking to the new tax reform, Yetunde Fadipe, Group Head of Tax, Leadway Holdings, highlighted Leadway’s role in driving clarity on such pressing issues: “At Leadway, we recognise that reforms are only as effective as the understanding of those they affect. Our objective with this session was to break down the complexities of the new tax law and equip businesses and individuals with practical insights they can act on. We believe knowledge is the first step towards compliance and opportunity.”
Through this initiative, Leadway Group has once again demonstrated its commitment to national development by supporting dialogue on policies that affect the economic and financial well-being of Nigerians.
About Leadway Group
Leadway Group is a leading non-banking financial services group in Nigeria, boasting a robust foundation in Insurance, Pension administration, Investment, and other financial services.
With decades of industry experience, Leadway Group has consistently played a pivotal role in shaping Nigeria’s economic landscape.
The organisation strongly emphasises corporate social responsibility and community welfare, embodying a commitment to wealth creation, youth empowerment, and national development.
AIICO Insurance Unveils Recycling Project for a Greener Future
AIICO Insurance Plc is stepping up its commitment to environmental responsibility with its Recycling at AIICO Project, an initiative designed to reduce non-biodegradable waste, promote responsible consumption, and create a workplace culture that actively supports sustainability.
Launched in the fourth quarter of 2024, the project reflects AIICO’s belief that corporate success extends beyond profits, encompassing the duty to safeguard the planet for future generations.
It aligns with the United Nations Sustainable Development Goals (SDGs) 12 (Responsible Consumption and Production) and 13 (Climate Action), reinforcing AIICO’s mission to contribute to a cleaner, safer, and more sustainable environment.
Key objectives of the project include:
- Minimising the amount of non-biodegradable waste generated across AIICO’s operations.
- Encouraging the reuse and recycling of materials such as paper and plastics.
- Driving employee engagement in environmental responsibility through education and participation.
- Embedding sustainability principles into the company’s culture and daily business practices.
After a successful pilot run at AIICO’s Ikeja office, which delivered strong participation and measurable improvements in waste management, the initiative is to be extended to the company’s offices nationwide.
Speaking on the program, Mrs. Abimbola Shobanjo, Corporate Responsibility and Sustainability Manager at AIICO Insurance Plc said:
“The Recycling at AIICO Project demonstrates that growth and sustainability can go hand in hand. We are intentional about reducing our environmental footprint and showing that business success is not defined by profit alone, but by the positive legacy we leave behind for future generations.”
To achieve its objectives, AIICO has put robust systems in place to ensure lasting impact. The company has installed clearly labelled bins for plastics, paper, and general waste across its offices, making it easier for employees to embrace proper waste segregation.
Through a strategic partnership with Wecyclers, a leading waste management company, AIICO ensures that collected materials are efficiently processed and recycled. In addition, regular sensitisation campaigns are being conducted to encourage eco-conscious behaviour among staff, fostering a culture of environmental responsibility. Progress is closely monitored, with waste data tracked and reported as part of the company’s ESG disclosures, reflecting AIICO’s commitment to transparency and measurable results.
With this initiative, AIICO Insurance Plc. continues to demonstrate that responsible business practices and environmental stewardship are inseparable, setting a standard for corporate leadership in sustainability.
About AIICO Insurance Plc
AIICO Insurance is a leading composite insurer in Nigeria, with a 60-year record of accomplishment in delivering quality service to its clients.
Founded in 1963, AIICO provides life and general insurance, health insurance, and investment management services to create and protect wealth for individuals, families, and corporate customers.
New WAIFEM DG, Baba Musa, Plans to Build Next Generation of Economic Leaders
The Director General of the West African Institute for Financial and Economic Management (WAIFEM), Dr. Baba Yusuf Musa, has been elected as the 45th President of the Nigerian Economic Society (NES). Before his election, Dr. Musa was the Vice President and Council Member of the Nigerian Economic Society.
Dr. Musa’s emergence as President of NES is one of the high points of the 66th Annual Conference of the Nigerian Economic Society which came to a close in Abuja on Thursday.
Dr. Musa succeeds Professor Adeola Adenikinju who bowed out on Thursday at the end of his two-year tenure.
The conference which was declared open on Tuesday by the Vice President, Senator Kashim Shettima, featured Secretary to the Government of the Federation, Senator George Akume, who chaired the opening ceremony; and Professor James Robinson, a joint winner of the 2024 Nobel Prize in Economics and joint author of the book Why Nations Fail: The Origins of Power, Prosperity, and Poverty as one of the speakers
Dr. Musa is stepping into the position that was once occupied by economic greats like Professor Ojetunji Aboyade, Chief Philip Asiodu, Dr. Pius Okigbo, Prof. Sam Aluko, Dr. Shamsudeen Usman, Alhaji Abubakar Alhaji, Professor Akpan Hogan Ekpo.
The following were also elected into the 2025-2027 NES Council: Prof. Aliyu R. Sanusi (Vice President I), Prof. Emeka Osuji (Vice President II), Dr. Victor Akidi (National Secretary), Dr. Ekesiobi C. Sylvester (Assistant Secretary), Prof. Abiodun Folawewo (Editor), Prof. Evans Osabuohien (Assistant Editor), Prof. Mohammed Yelwa (Assistant Editor), Dr. Ekundayo Mesagan (Assistant Editor). Ohers are Dr. Idris M. Idris (Business Manager), Dr. Oluwafemi Adeboje (Publicity Secretary), Dr. Jeremiah Dandaura (Internal Auditor), Prof. Adeola Adenikinju ((Ex- Officio), Prof. Uche Uwaleke (Ex Officio), Prof. Amaka Metu (Ex Officio), Prof. Salamatu Isa (Ex Officio).
In his acceptance speech, Dr. Musa said “in the coming months, we will embark on collaborative process to develop a new strategic plan for the Nigerian Economic Society.”
The plan, he stated, will be a collective effort that welcomes the invaluable input of the members, the wisdom of the College of Fellows and Past Presidents, and the dedication of the council members, noting that “this document will serve as our guide, a compass to reposition us, define our future trajectory, and ensure that our actions are deliberate, impactful, and aligned with our shared vision”, pointing out that “this vision will be anchored on four core pillars forming the bedrock of our work.”
He listed the four pillars as:
- Reclaiming our voice: Evidence-based advocacy
- Investing for Tomorrow – Youth and Capacity Building
- The Data Revolution – Driving Research and Innovation
- A Collective Endeavour – Fostering Partnerships and Collaboration and Completing the NES Building.
Throwing more light on the four pillars with regard to ‘Evidence-based advocacy’, he said “We will establish a new Policy Advocacy and Engagement Committee that will be the bridge between our members’ research and the corridors of power.”
The committee, he said, will be tasked with Quarterly Policy Briefs, Structured Dialogue, and State-level Impact. According to him, the state-level impact will involve empowering and supporting state chapters of NES to engage directly with their state governments, providing expertise on state-specific economic challenges and helping to develop tailored solutions that can drive growth from the grassroots up.
With regard to Youth and Capacity Building, he said “We will transform our society into a launchpad for young talent through the following initiatives: The NextGen Economists Programme, National Economic Debating Championship, and Digital Learning Hub”.
On The Data Revolution – Driving Research and Innovation, he said he will foster a culture of innovative, rigorous, and relevant economic research through the establishment of a National Economic Data Portal, The Annual Economic Research Grant, and rebooting of The Nigeria Journal of Economic and Social Studies.
Dwelling on A Collective Endeavour – Fostering Partnerships and Collaboration and Completing the NES Building, he said he will build strong, strategic partnerships that amplify the impact of NES and extend its reach.
This, he said, will be done through engaging the private sector. He explained that “We will work closely with the private sector, leveraging their expertise and resources to drive innovation and create jobs. Our insights will help businesses make better decisions, and their data will enrich our research.”
Harping on engagement with the media on economic and financial reporting, he said “Our knowledge must not be confined to academic circles. We must support the government to disseminate policies with sound practice. We need to support the government to train the media to report accurately so that the public will be well-informed. We will simplify complex economic issues, empower our citizens with knowledge, and build a more economically literate society.”
He concluded his speech with a call to action: “Let us work together to ensure that the Nigerian Economic Society is not just a society of economists but a society of builders, of innovators, and of patriots. Let us be the voice of reason in a time of uncertainty. Let us be the source of light in a time of darkness. Let us be the architects of a new Nigeria, built on the foundations of knowledge, integrity, and shared prosperity.”
Dr. Baba Yusuf Musa is an internationally acclaimed economist, seasoned public finance expert, and leading authority in sovereign debt management, with an illustrious career spanning over three decades of transformative service across the African continent.
As the current Director General of the West African Institute for Financial and Economic Management (WAIFEM), a flagship institution founded by the central banks of The Gambia, Ghana, Liberia, Nigeria, and Sierra Leone, Dr. Musa has championed a bold vision for economic transformation, institutional resilience, and regional integration through capacity development and policy innovation.
A dynamic strategist and institutional reformer, Dr. Musa’s professional journey reflects an unyielding commitment to strengthening public financial management systems and building sustainable macroeconomic frameworks.
At WAIFEM, he leads strategic programming that has trained thousands of senior officials from central banks, ministries of finance, planning commissions, and debt management offices in areas including macroeconomic analysis, debt sustainability, fiscal governance, and monetary policy design.
His tenure has seen the Institute become a pan-African centre of excellence in economic training and research, enhancing economic governance and human capital development across Anglophone West Africa and beyond.
Before he was appointed Director General, Dr. Musa served with distinction as Director of Fiscal Policy, Debt Management, and Regional Integration at WAIFEM from 2011 to 2018. He earlier spent over 21 years at the Central Bank of Nigeria (CBN), where he held several key technical and policy roles, contributing significantly to macroeconomic stabilization, financial sector reform, and public debt coordination efforts at both national and sub-national levels.
Before he was appointed Director General, Dr. Musa served with distinction as Director of Fiscal Policy, Debt Management, and Regional Integration at WAIFEM from 2011 to 2018.
He earlier spent over 21 years at the Central Bank of Nigeria (CBN), where he held several key technical and policy roles, contributing significantly to macroeconomic stabilisation, financial sector reform, and public debt coordination efforts at both national and sub-national levels.