SanlamAllianz Nigeria Wins Africa’s Most Visible Insurance Company Award

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10/11/2025

L-R: Marketing and Corporate Communications Manager, SanlamAllianz Nigeria, Mr. Bankole Banjo; FIBOP President, Mr. Charles Onwuatogwu; Chief Operating Officer, SanlamAllianz Nigeria, Adeola Adekunle and Group Head, Strategy, Marketing and Customer Relations, SanlamAllianz Nigeria, Mr. Chris Ekwonwa during the presentation of Award to SanlamAllianz in Lagos on Friday, November 7, 2025.

SanlamAllianz Nigeria has been adjudged Africa’s Most Visible Insurance Company of the Year in recognition of its outstanding contributions to the growth of insurance in the continent

The prestigious Award of Excellence conferred on the insurer by the Finance and Business Online Publishers (FiBOP) Association is in recognition of the company”s efforts at fostering better understanding as well as greater insurance penetration not just in Nigeria but across the continent of Africa.

Presenting the award to the company, President of FiBOP, Mr. Charles Onwuatogwu commended SanlamAllianz for its resilience, expansive presence, and impact across Africa.

He noted that the recognition was driven by the company’s “strong visibility in most African countries,” further enhanced by the recent merger between Sanlam and Allianz.

“Today, SanlamAllianz operates in 27 of Africa’s 54 countries, offering cutting-edge insurance and financial management solutions to over 30 million Africans,” Onwuatogwu said. “With a combined asset portfolio of nearly €3 billion, over two centuries of industry experience, and a 10,000-strong workforce, the company has established itself as a dominant force in Africa’s insurance landscape.”

Receiving the award on behalf of the company, Mr. Chris Ekwonwa, Group Head, Strategy, Marketing, and Customer Relations at SanlamAllianz Nigeria, expressed appreciation to FiBOP and underscored the vital role of online media in advancing insurance literacy.

“You are important partners in our quest to deepen insurance penetration in Nigeria,” Ekwonwa said. “More people now access information online, and your platforms are crucial in ensuring that insurance awareness reaches every corner of the continent and beyond. We appreciate your continued support in promoting the SanlamAllianz brand.”

He added that 2025 marked a significant transition year for the company following its rebranding, emphasising that SanlamAllianz would continue to build on its brand visibility and customer loyalty across the continent.

“We don’t want to stop at awareness; we want to sustain and even heighten the momentum,” Ekwonwa said. “We look forward to more collaboration with FiBOP and other partners as we advance our mission in 2026 and beyond.”

The FiBOP Excellence Award recognizes corporate institutions that demonstrate leadership, visibility, and impact within Africa’s business and financial sectors.

Nigerian Stocks Present Buying Opportunities as Market Sheds N2.8trn

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10/11/2025

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Nigeria’s equities market closed last week ending November 7 with a N2.8 trillion decline in market capitalization, but market analysts are optimistic, characterising the downturn as a healthy correction that presents attractive entry points for long-term investors seeking value.
The pullback followed recent remarks from US President Donald Trump threatening military action against Nigeria, which prompted some cautious repositioning, alongside natural profit-taking following previous rallies. This drove declines across several blue-chip counters.
However, experts remain bullish on the market’s prospects.

Aruna Kebira, Managing Director/CEO of Globalview Capital Limited, described the downturn as temporary, noting that strong fundamentals underpin the market. “The current downturn is temporary as fundamentals remain strong,” he said. “Valuations are now even more attractive and should soon draw renewed buying interest.”
Data from NGX showed the All-Share Index (ASI) declined 2.11% week-on-week to close at 149,524.83 points, while market capitalisation dropped to N94.9 trillion from N97.7 trillion the previous week.
Despite the weekly decline, the broader market picture remains positive. In the nine months to September 2025, total equities transactions on NGX reached N8.538 trillion, with domestic investors accounting for 78.44% of trading activity.

Significantly, foreign inflows of N1.030 trillion exceeded outflows of N810.39 billion, demonstrating continued international confidence in Nigerian equities.
Jude Chiemeka, Chief Executive Officer of Nigerian Exchange Limited (NGX), views the correction as an opportunity for strategic portfolio positioning. “A well-diversified portfolio across equities, fixed income, and alternative assets helps investors manage risk and capture opportunities as the market recalibrates,” he said.
Market watchers note that while uncertainty surrounding the planned 25% capital gains tax set to take effect in 2026 may have amplified the correction, Nigeria’s corporate fundamentals remain robust. Listed firms continue to sustain profitability and dividend payouts across key sectors, signaling underlying strength.
Analysts encourage investors to view the pullback as a strategic repositioning phase rather than a prolonged downturn, emphasising that disciplined investors can capitalise on improved valuations to build long-term wealth.

ICPC Chair, Musa Aliyu, to Deliver Realnews 13th Anniversary Lecture 2025

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10/11/2025

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Dr. Musa Adamu Aliyu (SAN)

Chairman

ICPC

THE Management of Realnews Magazine and Publications Limited, publishers of Realnews Magazine Online, has announced that Dr. Musa Adamu Aliyu, SAN, Chairman, Chairman, Independent Corrupt Practices and other Related Offences Commission, will deliver the Realnews 13^th Anniversary Lecture.

The lecture on “Cybersecurity, Illicit Financial Flows and Achieving Agenda 2063 in Africa” will be held at the Radisson Blu Hotel, Ikeja, Lagos on Wednesday, November 19, 2025.

Dr. Aliyu’s acceptance to deliver the lecture was communicated to Realnews in an email in March 2025. Also, in a reply to Realnews reminder letter on October 31, 2025, Dr. Aliyu replied stating: “I will attend by God’s grace.”

Dr. Aliyu was appointed chairman of the ICPC by the President of the Federal Republic of Nigeria, Bola Ahmed Tinubu, on October 17, 2023. A barrister and solicitor of the Supreme Court of Nigeria, he reached the zenith of his legal profession for the desired Senior Advocate of Nigeria (SAN) rank on October 12, 2023.

Before his appointment, Aliyu served his home state as the Attorney General and Commissioner of Justice, Jigawa State, Nigeria (2019-2023), where he engineered several reforms in the justice sector, promoted the rights of women and children, and laid a solid foundation for transparency and accountability in governance with spearheading the establishment of public complaints and an anti-corruption commission in Jigawa state, Nigeria. He collaborated closely with the United Nations Office on Drugs and Crime (UNODC).

Aliyu has served in various capacities, including as a lecturer at Jigawa State College of Islamic Legal Studies, Ringim, and the Faculty of Law, Nigeria Police Academy, Wudil, Kano State, Nigeria. He has published in national and international journals and presented academic papers at conferences both locally and internationally.

His few months in the Commission are marked by exemplary leadership that carries ICPC to higher heights and hangs it in the place of honour and dignity. He is a rule-of-law-compliant leader who always upholds ethical standards and international best practices in the Commission’s work. This has continued to attract respect, admiration, and high-level partnership deals with critical stakeholders in the country.

Born in Birnin-Kudu town of Jigawa State, Nigeria, on December 27, 1977, Aliyu attended Central Primary School, Birnin-Kudu, Jigawa State, Nigeria (1983 – 1989) and Government College Bauchi, Bauchi State, Nigeria (1990 – 1995) for his secondary education.

Dr. Aliyu’s educational journey includes an LL.B from Bayero University, Kano State, Nigeria (1998-2003), B.L from the Nigerian Law School (2003-2004), LL.M from Ahmadu Bello University, Zaria, Kaduna State, Nigeria (2006-2011), and a PhD in Law from the Universiti Utara, Malaysia (2016-2019).

The lecture will be chaired by Hon. Justice Ayotunde Phillips, former Chief Judge of Lagos State and former Chairman of Lagos State Independent Electoral, will also moderate the panel session.

Realnews, a general interest magazine, is an online publication that thrives on investigative journalism. We have expertise in reporting on the oil and gas sector with its attendant environmental challenges. We aim to unearth exclusive stories about real people and the challenges they face in their day-to-day activities.

We do this bearing in mind that the government can only act to influence the lives of people positively if they are aware of their true situation.

Hence, our objective is to use our investigative skills to ferret out information in the sectors we focus on and produce an unbiased report that will influence the government and decision-makers to take actions that will make society better.
Realnews is populated by seasoned journalists who believe strongly in the tenets and ethics of the profession. The online publication believes that journalism as the fourth Estate of the Realm, can contribute its quota towards building a fair and just society where fundamental human rights are respected and citizens have the freedom to pursue their interests anywhere in the world without hindrance. Its editors have a combined experience of several decades in active journalism practice and are highly dedicated to serving humanity. Hence its motto: “For God and Humanity.”
Realnews Anniversary Lecture Series was established to commemorate the best minds in our society and to tap from them to enrich the discourse in our national development.
The 12^th Anniversary Lecture was delivered by Ambassador Prof Ibrahim Gambari, former Chief of Staff to late President Muhammadu Buhari, on “Africa in World Shifting Geopolitics, Matters Arising on Democracy, Technology, Artificial Intelligence, Natural Resources.”

The 11^th Anniversary Lecture in 2023 on The Threats of Illicit Funds Flow to the African Economy was delivered by Dr. Edwin W. Harris Jr., Director-General, ECOWAS Inter-Governmental Action Group against Money Laundering in West Africa (GIABA).

The 10^th Anniversary lecture in 2022 on “Drug Abuse among Youths in Africa: Implication for Nigerian Economy and 2023 Elections” was delivered by Brig General Buba Marwa, Chairman and Chief Executive Officer of the National Drug Law Enforcement Agency, NDLEA; the 9^th Anniversary Lecture of Realnews in 2021 was delivered by Engr. Simbi Kesiye Wabote, Executive Secretary of the Nigerian Content Development and Monitoring Board on “Nigeria in the Unfolding Integration of the African Market: The Oil and Gas Perspective”; 2020 Eighth Anniversary Lecture of Realnews was delivered by Boss Mustapha, Secretary to the Government of the Federation and Chairman of the Presidential Taskforce on COVID-19 on Managing COVID-19 Pandemic in Africa: The Nigeria Experience; Former President John Dramani Mahama of Ghana gave the 2019 Lecture on Beyond Politics: An Economic Narrative for West Africa while Prof. Mahmood Yakubu spoke on Political Transitions and Africa’s Economic Development: Preparations for Nigeria’s 2019 General Elections at the 2018 Lecture.

The 2017 Fifth Anniversary Lecture on African Leadership in a Turbulent Era was delivered by Dr. Oby Ezekwesili, former Minister of Education and former World Bank Vice President.

The 2016 Fourth Anniversary Lecture on Security and National Development in Plural Democratic Society was delivered by Dr. Mohamed Ibn Chambas, former United Nations Secretary General’s Special Representative to West Africa and Sahel; the 2015 Realnews Third Anniversary Lecture was delivered by Professor Chukwuma Charles Soludo, former Governor of the Central Bank of Nigeria (CBN) on November 19, 2015, under the theme: It’s The Nigerian Economy, Stupid?

The Second Realnews Anniversary Lecture on Nigerian Democracy: Getting it Right in 2014 was delivered by Professor Maurice Iwu, former Chairman of the Independent National Electoral Commission (INEC).

Our Laws Now Stronger, More Effective to Prosecute Parties at Fault in Bank Failure – NDIC Boss

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10/11/2025

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COURTESY VISIT: Managing Director/CE, Nigeria Deposit Insurance Corporation (NDIC), Thompson Oludare Sunday (right) presenting Deposit Insurance research publications to the President/Chairman of Council, Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN), Chimezie Ihekweazu (SAN) during the latter’s courtesy visit to him at the NDIC’s Head Office in Abuja.

The Managing Director/Chief Executive (MD/CE) of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Oludare Sunday, has stated that the Corporation now operates under stronger and more effective laws to carry out its bank liquidation mandate.

Mr. Sunday made this known when he received the President/Chairman of Council of the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN), Mr. Chimezie Victor Ihekweazu (SAN), and members of his council on a courtesy visit to the NDIC Headquarters in Abuja.

According to the NDIC Chief Executive, the Corporation’s powers in the area of the liquidation of failed insured institutions have been significantly enhanced with the enactment of the NDIC Act No. 30 of 2023, together with the Banks and Other Financial Institutions Act (BOFIA) 2020.

He noted that the NDIC is now better positioned to prosecute parties at fault for bank failures, unlike in the past when insufficient legal provisions allowed such individuals to evade accountability.

Sunday expressed his appreciation to the National Assembly for addressing the long-standing challenge of a weak legal framework that had constrained the Corporation’s operations.

He also commended the judiciary for its growing expertise in deposit insurance law and practice, as demonstrated by the effective adjudication of failed bank cases through judgments that have brought relief to depositors.

“The enhanced powers granted to the Corporation under the NDIC Act 30 of 2023, the BOFIA 2020 and the improved understanding of the judiciary, have made it impossible for individuals to hide under the law to escape liability,” the NDIC Boss stated.

“With stronger legal backing, individuals now approach the Corporation to settle out of court, not necessarily because the law has caught up with them, but because they can see that the noose is tightening around those responsible for bank failures.”

Sunday attributed the Corporation’s ability to realise sufficient assets to declare a first round of liquidation dividends to the uninsured depositors of defunct Heritage Bank Limited within one year of the revocation of its licence, to the positive impact of the new legal framework.

He reiterated that the NDIC would continue to leverage the strengthened laws while collaborating with BRIPAN and other stakeholders to enhance the effective discharge of its mandate.

In his remarks, the BRIPAN President/Chairman of Council, Mr. Chimezie Victor Ihekweazu (SAN), highlighted the association’s efforts and achievement in harmonising all insolvency-related laws in the country into a unified framework.

He noted that this has significantly addressed the challenges of ineffective insolvency and business recovery practices, while introducing more viable options for solvency resolution.

He also emphasised BRIPAN’s strong focus on capacity building, calling for further collaboration between the Corporation and his association.

Ihekweazu called for closer collaboration among stakeholders, to strengthen insolvency and business recovery practices in Nigeria.

Fidelity Bank Champions Support for the Elderly

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10/11/2025

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L-R: Igwe Quincy Chibuike, Team Member, Prolific Inductees Class of 2025, Fidelity Bank Plc; Adetutu Ipaye, Director, Old People’s Home, Yaba; Adeeso Olabisi Tawakalitu, Team Member, Prolific Inductees Class of 2025, Fidelity Bank Plc; and Tolulope Rojaiye, Products Marketing Partner, Fidelity Bank Plc; at the Fidelity Helping Hands Programme outreach to the Old People’s Home, Yaba, Lagos recently.

Leading financial institution, Fidelity Bank Plc, has reaffirmed its commitment to social responsibility by extending support to senior citizens at the Old People’s Home in Yaba, Lagos.

The outreach was championed by the Prolific Inductees Class of 2025 under the Fidelity Helping Hands Program (FHHP), the bank’s flagship employee-led Corporate Social Responsibility (CSR) initiative. Through the FHHP, staff have the opportunity to identify impactful projects in their communities, raise funds and thereafter receive matching support from the bank to execute these projects.

Speaking at the event, Divisional Head, Brand and Communications, Fidelity Bank Plc, Dr. Meksley Nwagboh, emphasised the Bank’s philosophy of fostering a symbiotic relationship with society.

“Our success as a financial institution is built on the trust and patronage of our customers. Without the community, we do not exist. This understanding has shaped our consistent investment in initiatives that touch lives across classes and ages through our CSR pillars,” he said.

“The donation to the elderly home is not just about material support, but about showing love, dignity, and respect to our senior citizens, while reaffirming our culture of service to humanity.”

Residents of the home responded with warmth and gratitude, offering heartfelt prayers and blessings to Fidelity Bank.

Capturing the collective appreciation of the community, a beneficiary remarked, “God will reward you in a large way and take you higher”.

Through the FHHP, the Bank continues to reinforce its reputation as a socially conscious institution, demonstrating that sustainable growth is best achieved through community trust, compassion, and long-term investment in people.

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

The Bank is a 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 recognised 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.

Fidelity Bank Partners NCF, Lagos State to Promote Responsible Waste Management

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10/11/2025

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L-R: Area Manager, Policy, Government and Public Affairs (PGPA), Field Operations, Chevron Nigeria Limited, Mr. Rilwanu Momodu; Chairman, Nigerian Conservation Foundation (NCF) National Executive Council, Hon. Justice R. I. B. Adebiyi; Special Adviser on Environment to the Lagos State Governor, Engr. Olakunle Rotimi-Akodu; Head, Brand Management, Fidelity Bank Plc, Mrs. Cynthia Ogbonna; and Chairman, House Committee on Environment, Hon. Olarenwaju Affinni; at the 19th edition of the NCF environmental advocacy program, tagged Walk for Nature in Lagos recently.

In a bold move to promote environmental sustainability and inspire a culture of responsible waste management amongst Nigerians, leading financial institution, Fidelity Bank Plc has donated large-capacity recycling bins to Yaba College of Technology (YABATECH), Lagos.

The donation was made during the 19th edition of the Walk for Nature event held on Saturday, November 1, 2025, at YABATECH.

The event, themed “Lagos, Let’s Beat Plastic Pollution,” was organised by the Nigerian Conservation Foundation (NCF) in collaboration with the Lagos State Government to raise awareness on plastic pollution and promote sustainable waste management practices.

Speaking at the event, Divisional Head, Brand and Communications, Fidelity Bank Plc, Dr. Meksley Nwagboh, affirmed the bank’s commitment to driving environmental consciousness and sustainability through consistent advocacy and impactful community initiatives.

“As a socially responsible institution, we integrate sustainability into our business and community impact programmes. Beyond reducing our carbon footprint through renewable energy deployment across our branches and ATM network, we are also deepening our advocacy for recycling and waste reduction.

“Through recycling partnerships with schools, tree planting campaigns, and environmental beautification projects in urban as well as underserved communities, we are committed to building a cleaner, greener, and more sustainable future. In line with this commitment, we are donating three large recycling bins to YABATECH to encourage responsible waste management and recycling among students,” he said.

Nwagboh equally applauded the Nigerian Conservation Foundation and the Lagos State Government for their collaborative efforts in driving environmental awareness, urging individuals and organizations to adopt eco-friendly lifestyles and reduce dependence on single-use plastics.

“Beating plastic pollution requires more than policies. It starts with each of us making conscious choices. By rethinking our consumption habits, reducing single-use plastics and embracing recycling, we can make Lagos a model megacity for environmental stewardship,” he emphasised.

In her address, the Chairman, National Executive Council, NCF, Hon. Justice R.I.B. Adebiyi, emphasised that plastic pollution remains one of the most pressing environmental challenges globally.

“This year’s Walk for Nature is unique because, for the first time, we are taking the awareness campaign directly to a tertiary institution. Young people represent the innovation and energy needed to build a cleaner future. Fidelity Bank’s donation of recycling bins to YABATECH is not just symbolic, it represents learning, responsibility, and change,” Justice Adebiyi stated.

Representing the Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, the Special Adviser on Environment, Engr. Olakunle Rotimi-Akodu, also noted that plastic pollution has become a silent global crisis.

In appreciation of the donation, the Rector, Yaba College of Technology, Dr. (Engr.) Ibraheem Adedotun Abdul, thanked Fidelity Bank and the Lagos State Waste Management Authority (LAWMA), which also donated two additional bins to the institution.

“On behalf of Yaba College of Technology, we express our heartfelt appreciation to Fidelity Bank and the Lagos State Government for this thoughtful gesture. The recycling bins will be strategically positioned across campus and judiciously used to promote a culture of sustainability among our students,” he said.

The initiative, which aims to encourage students to adopt eco-friendly habits, strengthen the institution’s recycling, and waste management systems, is the latest of the bank’s ongoing environmental awareness and sustainability efforts.

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

The Bank is a 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 recognised 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.

Stanbic IBTC Pension Managers Supports ART X Lagos 2025 to Celebrate African Creativity

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07/11/2025

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As West Africa’s leading art fair, ART X Lagos, marks its 10th anniversary themed Imagining Otherwise, No Matter the Tide, Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC Holdings, celebrates its ongoing belief in the power of art to spark dialogue, deepen knowledge, and strengthen community through its sponsorship of this year’s fair.

This year’s edition of ART X Lagos will take place from Thursday 06 – Sunday 09 November 2025, at The Federal Palace Hotel, Lagos, bringing together artists, collectors and enthusiasts from across the continent and beyond. The fair continues to serve as a leading platform for dialogue, discovery and celebration of contemporary African art.

As part of its sponsorship, Stanbic IBTC Pension Managers will present an interactive installation titled, The Library. Designed as a reflective hub for art, knowledge, and storytelling, The Library celebrates the depth and diversity of African narratives while connecting creativity with legacy and long-term value creation.

Speaking on the sponsorship, Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers, said: “The arts have always served as both a mirror and a map, reflecting who we are while guiding us toward who we can become. Beyond that, art holds the unique power to connect ideas, generations and communities. Through the Library and the diverse works on display, we aim to showcase imagination as a force that shapes not only culture but how societies grow, connect and endure.”

Olumide added: “Just as the mangrove adapts to shifting tides, we are proud to celebrate imagination as a tool for renewal and shared understanding and to champion the resilience and preservation of knowledge for the future.”

Visitors to The Library will encounter curated materials from the Guest Artists Space (G.A.S.) Foundation, the ART X curator’s archives and ART X Cinema alongside an exhibition by a legendary Nigerian artist. We are indeed proud to sponsor The Library, a special project that embodies the spirit of curiosity and regeneration.

Through its support of The Library, Stanbic IBTC Pension Managers continues its tradition of championing initiatives that foster creativity, learning and cultural preservation.

The organisation views art not merely as an expression of beauty, but as a catalyst for progress – one that mirrors the same foresight, purpose and commitment that guide its mission to secure the future of millions of Nigerians.

NGX Reaffirms Leadership in Advancing Africa’s Islamic Finance Ecosystem

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07/11/2025

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Nigerian Exchange Limited (NGX) has reaffirmed its leadership in advancing Africa’s Islamic finance ecosystem through the strategic expansion of its Non-Interest Finance Board and active engagement at the 7th African International Conference on Islamic Finance (AICIF), held in Lagos from 4th to 5th of November 2025.

Organised by The Metropolitan Skills Limited in collaboration with the Securities and Exchange Commission (SEC), the two-day event convened policymakers, regulators, development partners, and market participants to explore policy reforms, product innovation, and strategies to unlock liquidity across Africa’s Islamic finance markets.

Speaking at the conference, Alhaji (Dr.) Umaru Kwairanga, Group Chairman, Nigerian Exchange Group (NGX Group), said NGX’s Non-Interest Finance Board has become a central platform for expanding access to Sharia-compliant financial instruments and attracting investors seeking transparency, inclusivity, and sustainability.

“Through the Non-Interest Finance Board, NGX is building a dedicated platform for Sukuk, Islamic collective investment schemes, and non-interest exchange-traded funds,” Dr. Kwairanga stated. “Our goal is to broaden market participation while channeling capital towards productive sectors of the economy.”

The Exchange currently hosts over ₦1.3 trillion in listed Sukuk, reflecting growing investor appetite for assets that deliver both financial returns and social impact.

In collaboration with the Securities and Exchange Commission (SEC) and the National Insurance Commission (NAICOM), NGX continues to strengthen governance frameworks and deepen the non-interest capital market to attract a broader base of ethical investors.

Also speaking at the conference, Mr. Jude Chiemeka, Chief Executive Officer of NGX, highlighted the strategic role of non-interest finance in driving sustainable economic transformation and enhancing market inclusion.

“At NGX, our Non-Interest Finance Board represents more than a platform, it embodies our commitment to unlocking ethical capital, diversifying investment opportunities, and driving sustainable development,” said Chiemeka. “By leveraging innovation and strategic partnerships, we are creating pathways for inclusive growth and positioning Nigeria at the forefront of Islamic finance in Africa.”

Vice President Kashim Shettima, represented by Dr. Tope Fasua, Special Adviser to the President on Economic Matters, described Islamic finance as a credible mechanism for fostering equitable prosperity and sustainable development, urging broader adoption across African economies.

Nigeria’s non-interest capital market has recorded significant expansion in recent years, with sovereign Sukuk issuances raising over ₦1.4 trillion to fund multiple projects nationwide.

As the market continues to mobilise long-term, low-cost capital for infrastructure and sustainable development, Nigeria stands poised to lead Africa’s transition toward a more inclusive, ethical, and resilient financial future.

Sovereign Trust Insurance CEO, Olaotan Soyinka, Preaches Caution, Safety in the Ember Months

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07/11/2025

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Mr. Olaotan Soyinka, Managing Director of Sovereign Trust Insurance Plc, has called on Nigerians to be cautious and safety-conscious during this period of the ‘ember’ months so as to safeguard lives and properties.

While addressing the media at a recent function held in Lagos, Olaotan stated that the possession of Insurance Policies should not be a reason for carelessness by holders of such policies.

In his words: “While it is generally known that accidents are common during the ‘ember’ months as a result of increased activities during the period with people rushing to meet up with their goals as the year rounds up. It is advisable that even in the midst of such activities; we should still exercise caution so that we do not get involved in unnecessary mishaps that could have been averted.”

While speaking further at the occasion, the Managing Director/CEO of the underwriting firm said, “while it is not in dispute that insurance helps to mitigate against risks, it should not be taken as a license to throw caution to the wind and be careless” He cautioned that rather, Insurance should be seen as a respite in case of the unforeseen and inevitable.

It is widely known that cases of motor crashes, fire outbreaks and other perils are usually on the increase during the last months of the year, hence the need for caution to be exercised by all and sundry so as to prevent such misfortunes.

Sovereign Trust Insurance Plc, a company listed on the Nigerian Stock Exchange commenced business on Jan 2, 1995 and has a network of offices spread across major commercial cities in the country.

The company’s expertise is tailored towards non-life insurance products that include Motor Insurance, Fire and Property Insurance, Consequential Loss, All Risks, Houseowners/Householders’ Insurance, Burglary/Housebreaking, Professional Indemnity, Marine and Aviation Insurance, Personal Accident, Fidelity Guarantee, Cash-In-Transit, Products Liability, Machinery Breakdown, Contractor’s All Risk, Hulls and Passengers, Oil and Gas and a host of other policies under the stable of the organisation.

The underwriting firm drives its operations with top-notch technology with great emphasis on human capital development and career advancement for members of its staff.

Lagride Launches Low-Cost Omni to Disrupt Korope Transport in Lagos

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07/11/2025

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Lagos’ leading smart mobility platform has launched the Lagride Omni, a low-cost, air-conditioned shared-ride service designed for offices, churches, schools, and large groups.

The Omni represents a major step forward in modernising group transportation across the city, offering a safer, cleaner, and more co-ordinated alternative to the traditional Korope minibuses that many Lagosians use every day. Spacious, comfortable, and efficient, the Omni delivers a new kind of Lagos experience built on comfort, convenience, and community.

Early adoption has shown strong interest from individual riders who are choosing the Lagride Omni because of its lower cost compared to regular taxis and ride-hailing options.

Many are also booking it for convenience and comfort, enjoying the air-conditioned space and the ability to move together with friends, family, or colleagues without spending more. Unlike regular buses that stop repeatedly to pick up and drop off passengers, the Lagride Omni makes zero stops.

Each ride is private and direct, whether booked by an individual or a group on the Lagide app, and it still comes at an unbeatable price.

Speaking at the launch, Chief Diana Chen, Chairman of Lagride, described the Omni as a significant leap forward in the company’s mission to democratise mobility in Africa’s largest city. “Mobility is one of the greatest drivers of opportunity,” she said.

“By making modern transport affordable and accessible to every segment of society, Lagride is helping to build a more connected Lagos where movement creates meaning and community thrives.”

The Lagride Omni blends comfort, technology, and affordability in one seamless experience. Each vehicle is fully air-conditioned, GPS-enabled, and operated by trained drivers certified through the Lagride Academy, which ensures top safety and customer-service standards.

With space for up to six passengers, the Omni offers coordinated group rides that are reliable, comfortable, and cost-effective.

According to Mr Jubril Arogundade, Acting Managing Director of Lagride, the Omni was designed to meet the real needs of Lagosians who move together daily.

“With the Lagride Omni, one person can make a single booking and everyone joins the same ride,” he explained. “From offices to churches and community events, this is how Lagos will move together safely, conveniently, and in comfort.”

Modern Transport for Modern Groups

The Omni has been created for the rhythm of Lagos life: fast, collaborative, and always in motion. Every unit offers spacious seating, flexible route coordination, and a cool, comfortable interior that redefines what shared transport can be.

Organisations, churches, and schools can now plan coordinated group trips without the need for multiple taxis or unregulated buses.

The service is affordably priced and available through the Lagride app or via WhatsApp for bulk or event bookings. Payment options include corporate billing, pre-paid bookings, and cashless transactions, ensuring flexibility for every type of user.

Empowering Drivers and Strengthening Communities

Lagride is recruiting 1,000 new manual drivers to join the Omni fleet. Every driver will receive professional training and certification through the Lagride Academy, established in partnership with the Lagos State Government, LASTMA, and other transport-safety stakeholders.

Arogundade noted that the initiative is both a transport innovation and an empowerment programme. “We are creating opportunities for Lagosians to earn sustainable income while providing a better commuting experience for everyone,” he said.

“The Omni combines innovation with inclusion, and its impact will be felt across every community in the city.”

Malta Guinness, TRACE Naija Energise Campuses Across Nigeria with “In The City” Tour

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07/11/2025

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This year’s edition of the annual Trace In The City campus tour will go down as one of the most exhilarating, thanks to Nigeria’s premium malt drink, Malta Guinness.

In partnership with the tour’s organisers, TRACE Naija, the brand, renowned for fuelling the greatness and positive energy of Nigerians was on ground to give students a tour to remember for a long time.

The tour, designed to celebrate youth culture, creativity, and optimism, delivered unforgettable experiences filled with music, dance, and real connections.

From the University of Ibadan to the University of Abuja, University of Calabar, University of Uyo, and a grand finale at Yaba College of Technology, Lagos, the nationwide tour brought together thousands of students who were treated to live performances from some of Nigeria’s hottest acts including Falz, Qing Madi, Shoday, and Poco Lee. Each stop was packed with high energy moments, inspiring conversations, and vibrant displays of real Nigerian talent.

At the Malta Guinness activation zones, students enjoyed chilled cans of Malta Guinness, and immersed themselves in the brand’s World of Goodness. Dancers were not left out as students of each school competed in the Malta Guinness Steppers Challenge, winning cash prizes for themselves.

Malta Guinness also took it a step further by rallying each school towards a common goal, winning the Malta Guinness Goodness Challenge, which saw Yabatech coming in first, UniCal in second place, and UniIbadan in third place. The entire experience mirrored the everyday optimism that defines the Nigerian youth spirit – bold, expressive, and full of life.

Speaking on the brand’s involvement, Garima Khandelwal, Head of Non-Alcoholic Beverages, Guinness Nigeria, said: “Malta Guinness has always been more than just a drink; it is a symbol of positivity, energy, and real vitality. With our partnership with TRACE Naija, we are celebrating the youthful drive that keeps Nigeria moving. The ‘Trace In The City’ tour is our way of inspiring students to stay energized, and live life fully.”

Across campuses, the atmosphere was charged with music, laughter, and shared moments of joy. The Malta Guinness x ‘TRACE In The City’ Campus Tour reinforced the brand’s commitment to celebrating and elevating youth culture while fuelling everyday optimism among Nigerian students.

By bringing its signature energy to campuses nationwide, Malta Guinness once again demonstrated its commitment to championing real vitality and creating meaningful cultural moments that connect Nigerians everywhere.

RMRDC’s 30% Value Addition Bill Nears Presidential Assent

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Business Journal

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06/11/2025

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Nigeria’s journey toward industrial self-sufficiency and sustainable economic growth has reached a defining moment as the Raw Materials Research and Development Council (RMRDC) 30% Value Addition Bill successfully passed its third reading in the House of Representatives, moving it closer to presidential assent by President Bola Ahmed Tinubu.

The bill, titled “A Bill for an Act to Amend the Raw Materials Research and Development Council Act, No. 28, 2022, to Provide for the Protection and Development of Nigeria’s Local Manufacturing and Processing Industries and Related Matters,” mandates that all raw materials produced or extracted in Nigeria must undergo a minimum of 30 percent local value addition before export.

This landmark legislation aims to drive industrialisation, create jobs, conserve foreign exchange, and enhance Nigeria’s gross domestic product (GDP) through expanded local processing and manufacturing. Once signed into law, the policy will discourage the export of unprocessed raw materials and catalyse the establishment of processing industries across the country.

The Director-General and Chief Executive Officer of RMRDC, Prof. Nnanyelugo Ike-Muonso, described the bill as a “critical piece of legislation” that aligns with the Council’s mandate to develop Nigeria’s raw materials base and strengthen local manufacturing capacity.

“The Raw Materials Value Addition Bill is a transformative step toward unlocking the full potential of Nigeria’s raw materials sector. Its implementation will create jobs, stimulate economic growth, and reduce poverty while ensuring that value generated from our natural resources remains within the country,” Prof. Nnanyelugo Ike-Muonso.

Prof. Ike-Muonso, a visionary leader under whose administration the bill gained significant traction, reaffirmed RMRDC’s commitment to building a competitive industrial ecosystem driven by innovation, quality, and sustainability.

He emphasised that the bill will reduce Nigeria’s dependence on imported inputs, improve the competitiveness of local products, and strengthen the foundation for industrial diversification.

RMRDC’s sustained advocacy and collaboration with stakeholders, including the 10th National Assembly, industry leaders, policymakers, and civil society organisations, have been instrumental in advancing the bill’s progress. These engagements have raised national awareness about the strategic importance of local value addition in raw material development.

Industry experts have lauded the bill as a game-changer capable of transforming Nigeria’s economic landscape. They note that promoting local value addition will enhance export quality, improve Nigeria’s balance of trade, and boost investor confidence in the country’s manufacturing sector.

The bill’s passage will also create opportunities for small and medium-scale enterprises (SMEs), the backbone of Nigeria’s economy, by enabling them to participate in value chains that were previously dominated by imported goods.

However, experts also highlight the importance of supporting infrastructure, reliable energy supply, and access to finance to ensure the bill’s effective implementation once it becomes law.

The legislative success of the RMRDC Value Addition Bill signifies a major stride toward actualising Nigeria’s industrial transformation agenda. With presidential assent imminent, the country stands on the verge of a breakthrough that could establish it as the industrial hub of Africa.

This bill has the potential to transform Nigeria’s economy and improve the lives of its citizens. We are optimistic that with the collective will of government, industry, and stakeholders, this milestone will usher in a new era of industrial prosperity.

As Nigerians await the President’s signature, the passage of the 30% Value Addition Bill stands as a testament to the collaborative efforts of the National Assembly, RMRDC, and stakeholders in shaping a more resilient and self-reliant economy for the nation.

Global InsurTech Funding Hits $1bn in Q3 2025

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Business Journal

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06/11/2025

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According to a new report from Gallagher Re, global InsurTech funding was $1.01 billion in Q3 2025, down 7.3% from the $1.09 billion recorded in the prior quarter.

Gallagher Re observed a marked drop in deal count, with just 76 deals in Q3 2025, the lowest total since Q2 2020.

Overall, quarterly funding has reportedly totalled around $1.1 billion on average for 11 consecutive quarters.

Gallagher Re’s data has suggested that seven of the 11 quarters have recorded a funding total within a 20% swing of this mean average, and ten of the 11 quarters have recorded a funding total within a 30% swing.

Early-stage InsurTech funding also reportedly increased 6.8% in Q3 2025 compared with the same quarter of 2024, while almost three-quarters (74.8%) of InsurTech funding went to AI-centred companies.

“While the data underlying this trend has only been recorded in the past three years, there are signs that this consistency of investment could continue, such as an ongoing lack of mega-round funding, the closeness of individual deal totals to the mean average deal, and a shift towards investments into business models that support incumbents, rather than investing in startups designed to compete with them for customers,” the firm’s new report explained.

Global Head of InsurTech at Gallagher Re, Andrew Johnston, added, “Investor strategy has shifted away from massive, high-risk bets on a few companies to a more balanced approach.

“While the huge ‘winner-takes-all’ funding rounds are less common, the underlying market is still very active, shown by strong deal flow and early-stage funding volatility. This signals that while the appetite for pure venture risk is alive.”

Notably, commercial-focussed InsurTechs raised 470.7 million in funding over Q3 2025.

In fact, of the more than $60 billion that has been invested into InsurTechs since 2012, Gallagher Re estimates that around $9.3 billion has been invested into commercial-related InsurTech companies globally.

Gallagher Re’s report continued:

“Commercial insurance has evolved significantly over the past decade. In addition to commercial property, liability and workers’ compensation, the commercial insurance landscape now includes cyber, employee health insurance, gig economy/episodic coverage, pay-as-you-go coverage and the rise of coverage for assets that are used both personally and commercially.

“The line between personal lines and commercial lines is also blurring as the expectations of small business owners mirror those of individual consumers. The result is both InsurTechs and incumbent carriers adopting more of a D2C playbook, using tech to build omnichannel distribution models and increase customer engagement.”

Gallagher Re highlighted several key AI applications in commercial insurance, including extracting data from unstructured documents to give underwriters faster access to more information, validating insurance applications more accurately to reduce risk and fraud, and detecting patterns across portfolios to flag potential issues or poor underwriting decisions.

The firm’s report went on, “In commercial underwriting, the greatest impact comes from the use of workflow-enhancing AI tools, which can facilitate decision-support for human underwriters while also removing the labour-intensive but low-value-adding tasks (such as looking for generic outliers); freeing up underwriters to focus on complex risk judgments and relationship development.”

World Pension Summit 2025 Excellence, Innovation Awards Winners Unveiled

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Business Journal

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06/11/2025

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Pensions & Investments is delighted to announce the winners of the P&I WorldPensionSummit 2025 Excellence & Innovation Awards, recognising achievements in a year that saw noteworthy entries across a wide range of retirement plans and initiatives.

Winners and runners-up were revealed at the annual P&I WorldPensionSummit, held in The Hague, Netherlands, November 4-6. The awards were presented by Julie Tatge, Editor-in-Chief at Pensions & Investments.

A panel of global retirement industry leaders, all members of the WorldPensionSummit advisory board, judged entries from across the globe.

Awards were presented across three categories: engagement and communication, investments, and pension fund design and reform. There was also a “judges’ choice” award in each category, recognizing initiatives that may not have ranked highest in terms of scoring, but that judges felt deserved recognition due to their unique nature or circumstances under which they were created.

The winners and runners-up are as follows:

COMMUNICATION & ENGAGEMENT

Winner: Real World Financial Literacy Initiative, LifeGoals Financial Services Ltd

The LifeGoals Real World Financial Literacy Initiative is a Cypriot program that looks to transform traditional financial education by immediately connecting learning with practical implementation.

Unlike traditional programs that teach concepts without application tools, participants can instantly implement every concept learned, from opening emergency fund accounts to enrolling in retirement plans with tax benefits.

According to the judges, the initiative combines financial education, technology and employer partnerships to improve the financial understanding and savings of members, which is an effective approach that extends beyond heavy reliance on technology alone. The model can also be easily replicated in many other countries.

Runner-up: Innovative Pension Options and Decision Support for AZPF Members, AstraZeneca Pension Fund, U.K.

Judges’ Choice award: The Biggest Vacation of Your Life, Swedbank Investicijų Valdymas, UAB, Lithuania

INVESTMENTS

Winner: Mobilizing Pension Assets in Real Sector and Infrastructure, C-Quadrat Ampega Asset Management Armenia

This initiative from C-Quadrat Ampega Asset Management Armenia seeks to address two issues.

Firstly, that the growth of pension assets is outpacing the supply of investable local currency assets, constrained by underdeveloped capital markets and regulatory limitations.

Second, that the Armenian economy faces an increased need for investment in infrastructure, human capital, and innovation.

The initiative comprises three key components. The first is the establishment of a Strategic Investment Fund, a privately managed investment vehicle that mobilises long-term private capital, including pension assets, to finance infrastructure projects and real sector companies.

According to judges, this was an innovative initiative and completely makes senses considering the limitations to invest in the Armenian markets.

Runner-up: KWAP Dana Perintis (Pioneer Fund), Kumpulan Wang Persaraan (Diperbadankan) [KWAP], Malaysia

Judges’ choice award: The expansion of the investment regime in the Retirement Savings System, National Commission of the Retirement Savings System (CONSAR), Mexico

PLAN DESIGN & REFORM

Winner: Your Employee Saver, HAYAH Insurance Company P.J.S.C., UAE

Your Employee Saver by HAYAH has been designed to be the Middle East’s first comprehensive digital pension ecosystem designed specifically for expatriate workforces. This voluntary contribution platform integrates end of service benefits with flexible voluntary savings mechanisms for both employers and employees.

YES operates as a dual-purpose solution that transforms static end of service benefit arrangements into actively managed investment portfolios while simultaneously offering voluntary contribution capabilities.

YES also looks to address the unique needs of an internationally diverse workforce.

According to judges, the innovation is ambitious and moves pension design to a new level based on the concept of an ecosystem, including an advanced technological platform, corporate integration complexity and an ambition of user centric experience.

Runner-up: Innovation with purpose: CAAT’s DBplus with GROWTHplus Investment Account, CAAT Pension Plan, Canada

Runner-up: Contributory Pension – Digital Transformation and Lifecycle-Based Pension Services Reform, Employees Provident Fund, Nepal

Judges’ choice award: Axis Pension Plan, Axis Pension Trust LTD, Ghana.

Leadway Pensure PFA Celebrates 20 Years of Trust, Service, Innovation

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Business Journal

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06/11/2025

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Leadway Pensure PFA, a Pension Fund Administrator in Nigeria, proudly celebrates its 20th anniversary. This milestone marks two decades of trust, exceptional service delivery and value creation in its mission to protect the financial wellness of Nigerian workers.

Over the last 20 years, the PFA has served thousands of customers across Nigeria and beyond, standing as a clear testament to its commitment to providing financial stability at various stages of workers’ career journeys.

Speaking on this remarkable achievement, Olusakin Labeodan, MD/CEO, Leadway Pensure PFA, stated:

“As we celebrate 20 years of Leadway Pensure PFA, this milestone is more than a celebration of longevity, it is a tribute to trust, service and innovation. From the very beginning, our mission has been very clear, to deliver a pension system without barriers. Over two decades, we have transformed this vision into reality by simplifying pension access, embracing cutting-edge technology, and ensuring our services are always within reach. With a presence nationwide, a robust mobile platform and the AI-powered assistant LISA, we have placed pension services within the reach of eligible Nigerians.

We have supported countless customers in achieving life goals, from retirement to home ownership, by ensuring access, clarity and care at every step. This is a testament to the strong relationships and legacy we have built with every customer. Trust is at the heart of our service, propelling us to uphold world-class standards and earning us global certifications such as ISO/IEC 27001:2022 for information security, a mark of our unwavering commitment to safeguarding our customers’ funds,” he added.

Looking ahead, the company is committed to promoting youth-focused financial literacy, growing personal pension plans and strengthening customer engagement across every stage of the pension journey.

“The next years and beyond will be shaped by the same dedication that brought us this far, a future-forward mindset, a culture of excellence, and an unyielding promise to stand by our customers every step of the way,” Olusakin concluded.

As it commemorates 20 years of service, Leadway Pensure reaffirms its commitment to simplifying retirement planning, delivering consistent value, and driving financial inclusion across Nigeria. With a clear vision for the future, the firm remains dedicated to being the trusted partner in providing financial wellness for generations to come.

About Leadway Pensure

Leadway Pensure PFA is a leading pension administration and fund management firm serving value-driven individuals, corporate organisations, and federal and state institutions.

Built on expertise, transparency and trust, Leadway Pensure PFA delivers simple, coherent, efficient and outstanding financial services to clients and stakeholders.

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