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Sovereign Trust Insurance Reinforces Financial Strength with over N2.7bn Claims Paid in H1, Successful Completion of Rights Issue

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Sovereign Trust Insurance Plc has reaffirmed its unwavering commitment to delivering on its promise to policyholders through the prompt settlement of genuine claims, maintaining its reputation as a dependable insurer in Nigeria’s dynamic insurance industry.

As at June 30, 2026, the company had paid claims worth over N2.7bn across its various lines of business, underscoring its capacity to stand by customers when they need it most. The sustained level of claims settlement reflects the company’s strong operational discipline, sound underwriting practices and healthy financial position affirmed by the GCR international rating agency.

This commitment comes on the heels of the successful conclusion of the Company’s Rights Issue, which attracted an impressive level of participation from existing shareholders. The strong response further demonstrates the confidence of investors in the Company’s strategic direction, corporate governance and long-term growth prospects.

Speaking on the company’s performance, The MD/CEO, Lucas Durojaiye, noted that prompt claims payment remains one of the strongest indicators of an insurer’s financial strength and reliability.

Our promise to policyholders goes beyond selling insurance policies. We remain committed to honouring our obligations promptly and efficiently while continuing to build a stronger and more resilient organization for all our stakeholders.”

The successful Rights Issue has further strengthened the Company’s capital base, positioning Sovereign Trust Insurance for enhanced business expansion, increased underwriting capacity and improved value creation for shareholders, customers and other stakeholders.

With a stronger financial foundation and a clear growth strategy, Sovereign Trust Insurance Plc remains focused on deepening customer trust, driving innovation and reinforcing its position as one of Nigeria’s leading non-life insurance companies.

Our promise to policyholders goes beyond selling insurance policies. We remain committed to honoring our obligations promptly and efficiently while continuing to build a stronger and more resilient organization for all our stakeholders.”

MD/CEO, Sovereign Trust Insurance Plc.

Amid the conclusion of a successful rights issue, Sovereign Trust Insurance Plc has reaffirmed its unwavering commitment to delivering on its promise to policyholders through the prompt settlement of genuine claims, maintaining its reputation as a dependable insurer in Nigeria’s dynamic insurance industry.

As at June 30, 2026, the Company had paid claims worth over N2.7b across its various lines of business, underscoring its capacity to stand by customers when they need it most. The sustained level of claims settlement reflects the Company’s strong operational discipline, sound underwriting practices and healthy financial position affirmed by the GCR international rating agency.

This commitment comes on the heels of the successful conclusion of the Company’s Rights Issue, which attracted an impressive level of participation from existing shareholders. The strong response further demonstrates the confidence of investors in the Company’s strategic direction, corporate governance and long-term growth prospects.

Speaking on the Company’s performance, The MD/CEO, Lucas Durojaiye, PhD noted that prompt claims payment remains one of the strongest indicators of an insurer’s financial strength and reliability.

Our promise to policyholders goes beyond selling insurance policies. We remain committed to honouring our obligations promptly and efficiently while continuing to build a stronger and more resilient organization for all our stakeholders.”

The successful Rights Issue has further strengthened the Company’s capital base, positioning Sovereign Trust Insurance for enhanced business expansion, increased underwriting capacity and improved value creation for shareholders, customers and other stakeholders.

With a stronger financial foundation and a clear growth strategy, Sovereign Trust Insurance Plc remains focused on deepening customer trust, driving innovation and reinforcing its position as one of Nigeria’s leading non-life insurance companies.

CIIN Boss, Yetunde llori, Bows Out, Lists Achievements in Office

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Mrs. Yetunde llori, the President/Chairman of Council, Chartered Insurance Institute of Nigeria (CIIN) has bowed out after two years in office.

At a media engagement, she listed her key achievements in office which include:

  • Deepening insurance awareness through the annual Insurance Week
  • Collaboration and partnership with different arms of the insurance industry
  • Engagement of youths through the Hackathon initiative
  • Distribution of insurance books to schools to boost insurance education
  • Training of one million youths in insurance-still ongoing
  • Partnership with the Federal Government on the subject of insurance in WAEC and NECO exams
  • Participation of CIIN in the One Insurance Industry project tour to Abia State. More States on the table
  • Automation of the Institute processes and digital examinations across West Africa
  • Strategic maintenance of the College of Insurance for better training of manpower for the industry

llori said: “We created awareness that deepened and positioned insurance as a protector of the financial economy. We also enriched the quality of CIIN programs, including relevant input from the diaspora to further enrich and add value to our local market. We are ready to draw knowledge in terms of capacity building from within and outside the country.”

She encouraged her successor to continue on the path of collaboration with other professional segments of the industry and build upon the existing platform.

“For instance, after our visit to Abia State under the auspices of the NCRIB President, we have received calls from other States in that regard to take the message of insurance to the States.”

llori commended the media for the support in the period of her presidency of the CIIN. She urged the media to equally extend such support to her successor.”

WorldStage Business Forum Q2 2026: Prof. Baale Makes Case for Building World-class Nigerian Corporate Culture

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L-R: Mr. Segun Adeleye, President/CEO, World Stage Limited; Prof. Lere Baale, CEO, Business School Netherlands International receiving a plaque from Chief Emeka Obegolu, President, Abuja Chamber of Commerce & Industry (ACCI) at the WorldStage Business Forum Q2 2026 and Public Presentation of the WorldStage Nigeria Economic Report Q1 2026 on June 30, 2026 in Lagos. 

Prof. Lere Baale, CEO, Business School Netherlands International has made a case for Nigerian organisations to intentionally build cultures around five pillars of responsiveness, respect, reliability, responsibility and relationships if they really want to compete globally.

A distinguished global pracademic, scholar-practitioner and transformational leader with over 40 years of cross-sector experience spanning healthcare, telecommunications, education, corporate strategy and public policy, Prof. Baale in his presentation as a Guest Speaker at the WorldStage Business Forum Q2 2026 and Public Presentation of the WorldStage Nigeria Economic Report Q1 2026 on June 30, 2026, said  leading organisations in Europe, North America, Asia or emerging economies have been consistently  investing in culture, a pattern that Nigeria cannot ignore.

Dissecting the theme of the talk, “Nigeria’s Corporate Culture and Global Standard”, Prof Laabe addressed the topic from four parts – Corporate Culture and Why it mattersCustomer Experience is the New Competitive Advantage & The Human Side of BusinessBuilding a World-Class Nigerian Corporate Culture & The Nigerian Opportunity; and A New Corporate Social Contract. 

His invitation by WorldStage to deliver the business lecture specifically asked him to address what could be regarded as “Corporate Terrorism” where big corporate organisations now disregard the least reasonable courtesy at relating to the public and small businesses, regarding things like responding to correspondences- physically or electronically, returning phone calls, non-granting of interviews by MDs except to foreign media among others.

Commending WorldStage for consistently providing a platform for meaningful national conversations on business, governance, leadership, and economic development, Prof Laabe said: “While the phrase “Corporate Terrorism” may be provocative, the concern is real.

He explained that many people had experienced situations where emails to these big organisations remain unanswered for months, telephone calls are ignored, customer complaints disappear into a black hole, business proposals receive no acknowledgement, media inquiries are treated with disdain, senior executives become inaccessible, meetings are postponed indefinitely, stakeholders are treated as inconveniences rather than partners.

The irony is that many of these organisations were once small businesses themselves,” he pondered

He therefore offered to approach the theme that indicted Nigeria’s culture as an honest conversation, not merely about profits, not merely about growth, not merely about economic indicators, but about something that ultimately determines whether organisations survive, thrive, or decline.

According to him, culture is what people experience when they interact with an organisationCulture is how decisions are madeCulture is how customers are treatedCulture is how employees are valued.  Culture is how leaders behave when nobody is watchingCulture is the invisible force that ultimately becomes visible in performance.

He went ahead to point out the danger of bad culture common to many Nigeria’s big organisations, saying, the truth is simple, as an organisation can only fake a strategy for a while, but it can never fake culture for long.

He argued that we live in a world where reputation travels faster than products, where a single customer experience can reach millions of people within minutes.

For instance, he said, a delayed response, an ignored email, an unanswered complaint, a disrespectful interaction, a broken promise among others have the power to influence public perception instantly.

“The era when organisations could hide behind size, market dominance, bureaucracy, or regulatory protection is over,” he said.

We are now operating in an age of transparency, accountability, and stakeholder scrutiny. The organisations that will win in the future are not necessarily the biggest. They are the most trusted.

On the emerging challenge of corporate arrogance, he pointed out that many organisations that exhibit pride had benefited from relationshipsresponsiveness and trust before success arrived.

And somewhere along the journey, humility departed. The greatest danger of corporate success is not failure. It is arrogance,” he said.

He agreed that there are global standards to corporate culture, but many organisations tend to misunderstand them.

According to him, global standards are not expensive buildings, they are not imported furniture, they are not sophisticated websites, they are not foreign accents, they are not international awards, but they “are fundamentally about behaviour.

“Global standards begin with professional discipline.

“Global standards are not about geography.

“They are about mindset.”

He listed certain characteristics that the world’s most respected organisations shared to include, they respond, they communicate, they respect people, they keep promises, they listen, they are accountable, they are transparent, they solve problems, they create value.

He therefore asked, “If a multinational organisation can acknowledge an email within hours, why should a local organisation take months? If world-class institutions can respond professionally to inquiries, why should Nigerian organisations consider responsiveness optional?”

Talking about trust deficit in Corporate Nigeria, he observed that one of the greatest challenges facing many organisations today is declining trust.

Regarding trust as the currency of sustainable business, he said without trust customers would leave, employees would disengage, investors would hesitate, partners could withdraw while reputations will suffer.

“Trust is earned through consistency. It is built through integrity. It is strengthened through transparency. And it is maintained through responsiveness,” he said.

Every ignored stakeholder interaction is a withdrawal from the trust account. Every fulfilled commitment is a deposit.

The future belongs to organisations that understand that trust is not a public relations exercise.  It is a leadership responsibility.

For the big organisations that care to re-examine themselves, Prof Baale said customer experience is the new competitive advantage rather than corporate arrogance.

Whereas there was a time when organisations competed primarily on products, on price and on quality, he said, “today, they increasingly compete on experience.

While customers remember how they were treated, he said, suppliers remember how they were respected, employees remember how they were valued, communities remember how they were engaged.        

The most successful organisations understand a simple principle that people may forget what you said, they may forget what you did, but they will never forget how you made them feel,” he said.

Customer experience is no longer a department; it is a culture.

Looking at the leadership dimension of corporate culture, he argued that corporate culture does not emerge accidentally, but it is created intentionally as culture flows from leadership.

He said, “Employees rarely behave differently from what leaders tolerate. If leaders ignore stakeholders, employees will ignore stakeholders. If leaders are inaccessible, employees will become inaccessible. If leaders demonstrate humility, professionalism, and responsiveness, employees are likely to do the same.

“Culture is not what is written on office walls. Culture is what leaders repeatedly model.

“The strongest organisations build cultures where respect is normal, professionalism is expected, learning is encouraged, innovation is rewarded, accountability is embraced, and excellence becomes habitual.”

On the human side of business, he warned that one of the dangers of modern corporate life is the tendency to forget that businesses exist to serve people, saying, “Global standards require us to combine efficiency with empathy.”

He said: “Behind every email is a human being, behind every complaint is a human being, behind every application is a human being, behind every supplier is a family depending on that business relationship, behind every stakeholder interaction is a relationship that deserves dignity.

For corporate organsations not to lose humanity to technology, he said, technology should improve responsiveness, it should not eliminate humanity; automation should improve efficiency, it should not replace courtesy.

He shared story of Level One Manager at Pfizer where he earlier worked, who became so terribly sick, requiring dialysis to live.

He said the company responded by sending him abroad for dialysis. He was there for about six years.

At a time when he was missing his family and home, he said the family was flown abroad to stay with him on the account of the company.

At a point when he needed to come back home, he said two dialysis machines were bought for him by the company to continue treatment in Nigeria. He was not allowed to share the machines with anyone to avoid been infected with HIV as it was rampant then.

For intensive care, the company employed personal home maids to care for him.

Baale said that experience at Pfizer made him to change his plan from working for the company for only five years to 25 years.

He argued that a good corporate culture will have a positive impact on the employees and this will also rub off on every stakeholder and the prosperity of the organisation.

On steps to build a World-Class Nigerian Corporate Culture, he said organisations must intentionally build cultures around five pillars of responsivenessrespectreliabilityresponsibility, and relationships.

“Every stakeholder deserves acknowledgement, not every request requires approval, but every request deserves a response,” he said.

“People should never have to fight for basic courtesy; respect must become non-negotiable.

Promises made must become promises kept, execution remains the ultimate test of professionalism.

Leaders must own outcomes, excuses do not build trust, accountability does.

“Sustainable success is built on relationships, not transactions. The strongest brands are those that consistently nurture stakeholder trust.”

Sharing lessons from Global Best Practices, he said whether it was a case of examining leading organisations in Europe, North America, Asia, or emerging economies, the patterns that consistently emerge include, they invest in culture, they train their people, they measure customer satisfaction, they encourage feedback, they embrace transparency, they continuously improve, most importantly, they understand that every stakeholder interaction contributes to organisational reputation.

The future belongs to organisations that learn faster, adapt faster, and serve better,” he said.

Despite our challenges he highlighted, he still expressed his optimism about Nigeria, saying, “I have worked across multiple sectors, industries, and countriesI have seen extraordinary Nigerian talentI have witnessed remarkable entrepreneurial resilienceI have encountered exceptional leadersI have observed organisations that are already operating at world-class levels. The issue is not capability. The issue is consistency. The issue is scale.  The issue is culture.

He said Nigeria possesses all the ingredients required to build globally competitive organisations and what is needed is a collective commitment to excellence.

A new corporate social contract he envisaged for Nigeria is a commitment that customers will be respected, employees will be valued, suppliers will be treated fairly, communities will be engaged responsibly, media professionals will be treated as partners, stakeholders will not be ignored, trust will be protected, and professionalism will be elevated.

This is not merely good ethics. It is good business,” he said.

On the way forward, he said, “as we look towards the future, we must remember that greatness is not measured by market share alone. It is measured by impact.  It is measured by trust.  It is measured by reputation.

It is measured by the quality of relationships an organisation builds and sustains.

“The organisations that will define the future of Nigeria will not simply be those with the largest balance sheets. They will be those with the strongest cultures. They will be organisations that understand that responsiveness is respect. That professionalism is power. That trust is capital. That culture is strategy. And that global standards begin with everyday behaviour.

Let us therefore commit ourselves to building organisations that are not only profitable but respected. Not only successful but trusted. Not only large but admired. Not only Nigerian in origin but global in standardBecause when Nigerian organisations embrace world-class corporate culture, they will not merely compete globally. They will lead globally.

Mr. Segun Adeleye, President/CEO, World Stage Limited in his opening remark at the Business Forum said the Guest Speaker, Prof Baale and the panelists should be able to do justice to the theme Nigeria’s Corporate Culture and Global Standard.

He said Nigerians would like to know whether there is anything like global standard in the corporate world or it’s a jungle for the survival of the fittest.

“Maybe if we discuss this, some of the big organisations that are guilty may have a rethink,” he said.

“We all operate in a corporate culture that translates to the economy we have today. Most parts of this culture, either good or bad are inherited and have been modified over the years. But one would expect that there will be a minimum standard of how businesses should relate with each other.

He made reference to the Vice President, Kashim Shettima who few days earlier said at a public function that the Micro, Small, and Medium Enterprises (MSMEs) account for 90% of businesses, 60 million jobs in Nigeria.

“But if we take a critical look, we will find out that these small businesses are at the receiving end of oppressive corporate culture. The big businesses of today hardly remember that they once started small,” he said.

“What we have now can be regarded as “Corporate Terrorism” or “Corporate Oppression” where big corporate organisations disregard the least reasonable courtesy at relating to the public and small businesses, as regards things like responding to correspondences- physically or electronically, returning phone calls. In the media space, you can hardly see chief executives of blue-chip companies granting interviews, except to foreign media.”

The business forum attracted top corporate officials and media executives including the Chief Emeka Obegolu, President, Abuja Chamber of Commerce & Industry (ACCI); Hon. Mosopefoluwa George, Lagos State Commissioner for Economic Planning and Budget who was represented by Mr Olufemi Orojimi, Director Budget.

 

 

Insurance Brokers Reaffirm Commitment to Local Content, Digital Innovation at SUPERNEWS Conference

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Deputy President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Mrs. Olufunke Adenusi, representing the Council’s President, Mrs. Ekeoma Ezeibe, delivers her goodwill message at the SUPERNEWS Local Content Conference 2026 and the company’s 10th Anniversary Celebration in Lagos. 

The Nigerian Council of Registered Insurance Brokers (NCRIB) has called for accelerated digital transformation and stronger collaboration between the insurance and oil and gas sectors to strengthen local content, enhance risk management and drive inclusive economic growth.

The Deputy President of the Council, Mrs. Olufunke Adenusi, who represented the President of NCRIB, Mrs. Ekeoma Ezeibe, made the call at the SUPERNEWS Nigeria 10th Anniversary and 2026 Annual Conference in Lagos.

Speaking on the conference theme, “Local Content and Digitization: Building Synergy Between Oil and Gas and Insurance Sectors for Inclusive Growth,” Adenusi described the topic as timely and strategic, noting that effective collaboration between the two sectors remains critical to Nigeria’s economic development.

She pointed out that Sections 49 and 50 of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act mandate operators in the oil and gas industry to insure all insurable risks through insurance brokers registered in Nigeria, saying the provision was designed to strengthen indigenous capacity, retain economic value within the country and build a resilient insurance ecosystem capable of supporting the energy sector.

According to her, although the industry has recorded notable progress over the years, challenges such as inadequate capital, technical capacity gaps and continued dependence on offshore insurance placements still limit the sector’s full potential.

Adenusi commended the launch of the Nigeria Insurance Industry Reform Agenda (NIIRA 2025) and the ongoing collaboration between the National Insurance Commission (NAICOM) and the Nigerian Content Development and Monitoring Board (NCDMB), describing both initiatives as critical step towards addressing the industry’s structural challenges.

She stressed the need to accelerate efforts toward building a competitive, well-capitalised and digitally enabled insurance industry capable of underwriting complex risks in Nigeria’s oil and gas sector.

The NCRIB Deputy President said insurance brokers would continue to play their role as trusted risk advisers and professional intermediaries by promoting innovation, ethical practice and technical expertise across the industry.

She maintained that digitisation has become indispensable to the future of insurance and local content development, adding that technologies such as real-time risk assessment, parametric insurance solutions, blockchain-enabled claims processing and data-driven underwriting present significant opportunities for collaboration between the insurance and energy sectors.

Adenusi further pledged the Council’s full support for initiatives aimed at strengthening partnerships between the two industries, noting that deeper collaboration would boost local content implementation, attract investments, create employment opportunities and promote sustainable economic growth.

She also congratulated SUPERNEWS Nigeria on its 10th anniversary, describing the organisation’s decade of consistent business journalism as a remarkable achievement.

On behalf of the NCRIB President, leadership and members, Adenusi expressed appreciation to the organisers for providing a platform for stakeholders to engage in constructive dialogue and develop practical solutions for advancing Nigeria’s insurance and oil and gas industries.

She expressed optimism that the conference would produce actionable recommendations and stronger partnerships capable of advancing local content objectives and supporting national development.

Regency Alliance Insurance Launches N7bn Private Placement

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Regency Alliance Insurance Plc has officially launched a private placement valued at approximately N7 billion as part of its ongoing capital-raising initiative aimed at strengthening its financial position.

The launch ceremony held last Friday unveiled the offer of 7,368,421,052 ordinary shares of 50 kobo each at 95 kobo per share, with payment to be made in full upon acceptance.

The move follows the recent conclusion of the underwriter’s N3.04 billion rights issue.

According to the company, the placing list will open on July 15, 2026, and close on July 16, 2026, reflecting an accelerated fundraising process targeted at qualified investors. The strict window indicates a highly targeted capital deployment effort aimed at institutional investors. It requires investors to pay the full transaction fee immediately upon acceptance of the application.

The exercise is being coordinated by Investment One Financial Services Limited as the Lead Issuing House, with Radix Capital Partners Limited serving as the Joint Issuing House and Greenwich Merchant Bank Limited acting as the Financial Adviser.

Regency Alliance Insurance Plc says its private placement forms part of its broader strategy to reinforce its capital base, enhance underwriting capacity and position the company for sustainable growth in Nigeria’s evolving insurance market.

Industry analysts note that stronger capitalisation would enable insurers to underwrite larger risks, improve claims-paying ability and deepen confidence among policyholders and investors.

Market observers believe the successful completion of the private placement will further strengthen Regency Alliance Insurance Plc’s balance sheet and enhance its ability to compete in key business segments.

Nigeria’s Private Sector Launches Gender Country Program to Unlock Inclusive Growth

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Senior government officials, regulators, development finance institutions and business leaders have launched the Nigeria Gender Country Program (NGCP), signalling a co-ordinated push to position gender inclusion as a driver of business competitiveness, investment and long-term economic growth.

The initiative, led by the International Finance Corporation (IFC), a member of the World Bank Group, in partnership with Nigerian Exchange Group (NGX Group) and the Lagos Chamber of Commerce and Industry (LCCI), aligns advisory expertise, funding and partnerships to strengthen women’s representation in leadership, improve access to quality employment, and expand access to finance, technology and markets for women and women-led businesses.

Building on the CEO Roundtable held in June and the progress achieved through Nigeria2Equal, IFC’s earlier initiative, NGCP now moves into implementation, with participating organisations expected to adopt practical, measurable gender-smart business practices.

The economic case is significant with the program underpinned by research showing that closing gaps in women’s leadership, employment and entrepreneurship could generate an estimated US$22.9 billion in additional economic output annually, reinforcing the economic case for stronger private sector action on gender inclusion.

Speaking at the launch, the Group Chairman of NGX Group, Alhaji (Dr.) Umaru Kwairanga, said the program represents a shift from dialogue to action, describing women’s economic participation as an economic imperative rather than a social aspiration. “Advancing women’s economic participation is no longer simply a social aspiration; it is a business imperative, an investment in productivity, a catalyst for innovation and a driver of sustainable economic growth. Through the Nigeria Gender Country Program, we are creating a practical framework that will help businesses strengthen leadership, expand opportunity and unlock the inclusion dividend for Nigeria’s economy.”

Representing the Governor of Lagos State, His Excellency Babajide Sanwo-Olu, the Honourable Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, reaffirmed the state’s commitment to creating an enabling environment for women-led enterprises and strengthening inclusive economic development, while the Honourable Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim, represented by Aishatu Digili, called for stronger collaboration between government, development institutions and the private sector to accelerate women’s economic empowerment and expand opportunities for women across key sectors of the economy.

Delivering IFC’s remarks, Olivier Buyoya, Division Director for West and Central Africa, said the program reflects IFC’s commitment to helping businesses translate gender inclusion into stronger competitiveness and sustainable growth.

“Creating more and better jobs is central to IFC’s mission across Africa. Economies grow faster and businesses perform better when women have equal opportunities to participate, lead, innovate and succeed. Through the Nigeria Gender Country Program, we are bringing together the private sector, capital markets and development partners to help companies turn this opportunity into stronger business performance, greater competitiveness and more inclusive growth. We look forward to working with Nigerian businesses to unlock the full economic potential of women as a driver of Nigeria’s future prosperity,” he said.

Speaking on behalf of the Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, the Commission’s Executive Commissioner, Legal and Enforcement, Frana Chukwuogor, highlighted the importance of the capital market in advancing inclusive growth, improving access to finance and supporting women-led businesses.

“The Commission welcomes the Nigeria Gender Country Program as an important platform for deepening collaboration, innovation and knowledge sharing in support of inclusive market development. We commend the IFC for its leadership in promoting inclusive private sector development globally, and for its partnership with Nigeria in strengthening our financial markets,” she said.

 

Reflecting on NGX Group’s role as a strategic partner of the NGCP, Group Managing Director/Chief Executive Officer of NGX Group, Temi Popoola, represented by the Group Chief Strategy Officer, Jumoke Olaniyan, said the program builds on the momentum created through Nigeria2Equal and now provides a platform for practical action.

“At NGX Group, our role extends beyond facilitating capital formation. We are equally committed to promoting the standards, practices and partnerships that help businesses grow responsibly and compete successfully. Through initiatives such as this, we seek to ensure that companies have access not only to capital, but also to the knowledge, networks and collaborative platforms required to build stronger institutions,” he said.

The launch also featured contributions from World Bank Country Director for Nigeria, Mathew Verghis; Chairman of Ecobank Nigeria, Bola Adesola; Senior Partner at TLcom Capital, Dr. Omobola Johnson; Chief Executive Officer of NGX Regulation Limited, Olufemi Shobanjo; Director General of the Lagos Chamber of Commerce and Industry, Dr. Chinyere Almona; and representatives of UN Women, reflecting broad support across government, development institutions, the private sector and international partners.

With chief executive officers, board members, policymakers, investors, capital market stakeholders, members of the diplomatic corps and the media in attendance, the event reinforced growing private sector recognition of gender inclusion as a driver of resilience, enterprise value and economic competitiveness.

As NGCP moves into the implementation phase, private sector organisations have begun signing on to the Nigeria Gender Country Program, committing to one or more of its strategic priority areas based on their organisational goals and readiness.

Companies interested in participating can learn more about the program and register their interest by visiting www.ifc.org/ngcp.

SERAP Sues INEC over ‘Failure to Probe Alleged N800bn FAAC Diversion for Campaign Funding’

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Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Independent National Electoral Commission (INEC) “over the failure to investigate the allegations that governors of the All Progressives Congress (APC) diverted N800 billion for political and campaign purposes.”

According to reports, APC governors are allegedly making monthly contributions from their Federation Account Allocation Committee (FAAC) allocations to a dedicated campaign fund to support President Bola Tinubu’s re-election campaign.

In the suit number FHC/ABJ/CS/1426/2026 filed last week at the Federal High Court in Abuja, SERAP is seeking: “an order of mandamus to direct and compel INEC to investigate the allegations that governors of the All Progressives Congress (APC) diverted N800 billion for political and campaign purposes.”

SERAP is seeking: “an order of mandamus to direct and compel INEC to request full disclosure from the governors and APC regarding the alleged contributions made to any dedicated campaign fund, including the names of donors and the lawful origin of funds.”

SERAP is also seeking: “an order of mandamus to direct and compel INEC to promptly initiate a formal review and investigation into compliance with Section 91 of the Electoral Act by all political parties and candidates, particularly in relation to the sources and scale of political or campaign financing in the current political cycle.”

In the suit, SERAP is arguing that: “these allegations raise serious concerns about political finance transparency, electoral fairness, and the constitutional right of Nigerians to participate freely in their own government.”

SERAP is also arguing that, “opaque political financing remains a major entry point for corruption and a threat to democratic legitimacy. Nigerians deserve to know who funds the candidates or political parties of their choice and the sources of any such funding.”

According to SERAP, “The abuse of state resources for electoral advantage undermines democratic integrity and public trust. Fairness, transparency, and accountability in political or campaign finance are essential safeguards against corruption, state capture, and undue influence in democratic processes.”

The lawsuit filed on behalf of SERAP by its lawyers, Kolawole Oluwadare and Kehinde Oyewumi, read in part: “the allegations of diversion or opaque use of public funds pose a grave risk to the integrity of the 2027 general elections.”

“Large-scale public fiscal flows, coupled with weak transparency and oversight mechanisms, provide a compelling basis for INEC to activate its constitutional and statutory mandates.”

“Political finance in Nigeria remains characterised by limited transparency, inadequate disclosure, and weak enforcement, creating significant risks of the misuse of public resources for political purposes.”

“Section 91 of the Electoral Act empowers and requires INEC to set limits on political donations that individuals or entities can make to political parties or candidates and demand disclosure of contributions and sources of funds, and enforce sanctions against violations.”

“Section 91 establishes that any political party that exceeds the prescribed donation limit is liable to a fine of up to ₦10,000,000, plus forfeiture of the excess amount. It provides that any individual who exceeds the donation limit commits an offence and is liable to a fine equal to five times the amount donated in excess of the legal limit.”

“Section 91(2) of the Electoral Act provides that any individual, candidate, or political party that exceeds the donation limits set by INEC commits an offence and is liable upon conviction to sanctions.”

“For political parties, this includes a fine of up to ₦10,000,000 and forfeiture of any amount received above the prescribed limit, while individuals are liable to a penalty of five times the amount contributed in excess of the allowable limit.”

“Exceeding donation limits attracts sanctions including fines, forfeiture of excess funds, and penalties of up to five times the amount contributed in excess for individuals.”

 

“The right to political participation requires that citizens have a real opportunity to exercise their political rights. The right to free, fair and transparent elections is a fundamental human right. This imposes a duty on state institutions to ensure that elections are credible, transparent, and inclusive.”

“The allegations of diversion or opaque use of public funds—particularly on the scale reported—pose a grave threat to the integrity of the 2027 general elections.”

“The combination of large-scale public fiscal flows, opaque deduction structures, and allegations of misuse public funds for political and campaign purposes creates a reasonable basis to direct INEC to exercise its investigative and monitoring mandates under the Nigerian Constitution 1999 [as amended] and the Electoral Act.”

“The Nigerian Constitution, the Electoral Act and anticorruption and human rights standards prohibit the misuse of state resources and impose clear obligations regarding campaign finance transparency and fairness.”

“The Commission has constitutional and statutory obligations to ensure that no individual or political party exceeds legally prescribed contribution limits, whether directly or indirectly, and to ensure full transparency regarding the origin and quantum of political funding.”

“Where allegations exist that large-scale financial resources—including potentially state-derived or publicly controlled funds—may be influencing political activity outside lawful channels, such circumstances fall squarely within the preventive and investigative mandate of the Commission, as provided for by the Electoral Act.”

“INEC continues to fail to proactively enforce the provisions of the Nigerian Constitution and the Electoral Act regarding the allegations of political finance distortion, thereby undermining public trust in electoral institutions and the right of Nigerians to participate in their own government.”

“Section 14(2)(c) of the Nigerian Constitution guarantees that: “the participation by the people in their government shall be ensured.” This provision imposes a positive constitutional obligation to maintain electoral conditions that are free, fair, and not distorted by undue influence.”

“The provision also imposes a binding obligation on all institutions, including INEC, to safeguard the integrity of the democratic process.”

“Section 15(5) of the Nigerian Constitution requires public institutions to abolish all corrupt practices and abuse of power. Section 13 imposes clear responsibility on INEC to conform to, observe and apply the provisions of Chapter 2 of the constitution.”

“Article 13 of the African Charter on Human and Peoples’ Rights guarantees every citizen the right to participate freely in government. Similarly, Article 25 of the International Covenant on Civil and Political Rights, requires that elections reflect the free expression of the will of the electorate. Nigeria has ratified both treaties.”

“Nigeria has made legally binding commitments under the UN Convention against Corruption to ensure accountability in the management of public resources. Articles 5 and 9 of the UN Convention against Corruption also impose legal obligations on the Commission to ensure proper management of public affairs and public funds.”

“These commitments ought to be fully upheld and respected. Article 7(3) of the Convention requires institutions including INEC to ensure political finance transparency. The provisions aim to prevent corruption in and through elections.”

“Where public resources are allegedly diverted or deployed for political and campaign purposes, the result is not merely financial impropriety—it is a direct distortion of electoral competition. Such actions undermine the principle of a level playing field and erode the ability of citizens to freely choose their representatives.”

“Any use of public funds for political advantage would constitute a grave violation of these national and international standards and a threat to electoral credibility.”

No date has been fixed for the hearing of the suit.

 

 

 

PTAD: Harmonisation Reforms Designed to Advance Pension Equity

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The Pension Transitional Arrangement Directorate (PTAD) says implementation of the Defined Benefit Scheme Pension Harmonisation is a reform meant to advance and enhance pension payment equity in the country.

The Executive Secretary/CEO, Pension Transitional Arrangement Directorate (PTAD), Tolulope Abiodun Odunaiya said the initiative is a landmark reform designed to restore fairness, improve retirees’ welfare and strengthen confidence in the administration of the country’s legacy pension system.

The harmonisation exercise, approved under the Renewed Hope Agenda of President Bola Ahmed Tinubu, marks one of the most significant policy interventions in the DBS since PTAD was established in 2013 to take over the management of pensions under the old federal pension arrangement.

Unlike periodic pension increases that merely raise existing benefits by a percentage, she stressed that pension harmonisation goes further by recomputing pensions using the latest approved salary structures that existed before the closure of the Defined Benefit Scheme (DBS).

The objective, he noted, is to ensure that retirees who held similar positions and rendered comparable years of service receive equitable pension benefits regardless of their retirement dates.

The initiative comes against the backdrop of years of agitation by pensioners over historical disparities in pension computation.

PTAD’s harmonisation programme, she said, seeks to resolve that challenge by restoring parity within the system.

According to her, pension harmonisation is the formal recomputation of pensions using approved salary structures applicable before the DBS cut-off date. In practical terms, it ensures that pension outcomes are determined by rank, grade level and years of service rather than the year of retirement.

The Directorate believes the exercise will significantly improve social justice by correcting historical inequities that disadvantaged thousands of retirees.

The harmonisation applies primarily to Federal Government pensioners as well as eligible retirees under the Parastatals Pension Department (PaPD), Defunct and Transferred Agencies Pension Department (DTAPD) and the Education and Health Pension Department (TEHPD), particularly those who initially served under the Federal Government before their agencies were transferred to state governments.

How Babies N’ Stuffs is Building the Future of Parenting Commerce in Nigeria

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Nigeria’s baby products industry is undergoing a quiet transformation.

Driven by rising consumer awareness, increasing demand for quality products, and a growing population of young parents, the sector presents significant opportunities for businesses prepared to prioritise quality over convenience.

Among the companies positioning themselves for long term leadership is Babies N’ Stuffs, founded by entrepreneur Abidemi Rasheed.

While many retailers compete primarily on price, Babies N’ Stuffs has adopted a different strategy building a business around trust, customer experience, and uncompromising product standards.

The company believes parenting commerce extends beyond selling products. It is about providing confidence, education, and dependable solutions that support families from pregnancy through early childhood.

This philosophy has shaped the company’s sourcing strategy. Rather than accepting lower quality products often designated for emerging markets, Babies N’ Stuffs insists on international manufacturing standards, ensuring Nigerian parents have access to products comparable to those available in developed markets.

That approach has strengthened customer loyalty while differentiating the company in an increasingly competitive retail environment.

Looking ahead, the company’s ambitions extend far beyond retail.

Babies N’ Stuffs aims to become a fully integrated parenting brand with interests spanning retail, manufacturing, product development, digital commerce, and regional distribution across Africa.

The vision aligns with broader shifts in African consumer markets, where trusted indigenous brands are increasingly challenging imported alternatives.

Central to this growth strategy is the understanding that modern retail is no longer defined solely by physical stores. Today’s consumers expect brands to deliver seamless experiences across physical locations, digital platforms, customer service, and community engagement.

Industry analysts note that businesses capable of combining operational excellence with strong brand credibility are more likely to achieve sustainable growth in Nigeria’s evolving consumer economy.

For Babies N’ Stuffs, that credibility has been earned through consistency, ethical business practices, and an unwavering commitment to quality.

The company’s growth has also been supported by deliberate public positioning and strategic brand communications.

Working alongside Social Media Centre Marketing (SMC), Babies N’ Stuffs has focused on founder storytelling, thought leadership, and industry engagement that reinforces its reputation without losing sight of its core mission.

The approach reflects an emerging business philosophy increasingly recognised within Nigeria’s branding ecosystem: Visible Proximity, Credibility Marketing, and Public Positioning- three principles that emphasise sustained visibility, earned trust and authoritative market presence.

Rather than relying on promotional campaigns alone, Babies N’ Stuffs has steadily built recognition by contributing to conversations around product quality, parenting, entrepreneurship, and consumer confidence.

As Nigeria’s retail sector continues to evolve, the next generation of market leaders will likely be defined not only by the products they sell but by the trust they inspire.

For Babies N’ Stuffs, the journey is no longer simply about becoming a successful baby products retailer. It is about building one of Africa’s most respected parenting commerce brands one capable of competing globally while remaining deeply committed to serving Nigerian families.

If current momentum is any indication, the company is positioning itself not merely for growth, but for lasting relevance in the future of African retail.

 

NGX Leadership Engages Global Community on T +1 Policy to Strengthen Nigeria’s Capacity to Attract FDI

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Dr. Umaru Kwairanga, Group Chairman, Nigerian Exchange Group (NGX) recently led an NGX delegation to the Nigeria T+1 Roundtable in London to engage officials of Russell FTSE, global investors and major market leaders on Nigeria’s capital market reclassification and its attractiveness for Foreign Direct Investment (FDI).

At the meeting, the NGX wanted to know the reasons for FTSE’s hesitation in reclassification of the Nigerian capital market and how to address emerging issues in that regard.

The delegation insisted that T+1 was agreed after consultation between regulators, operators, market infrastructure providers and other stakeholders and has operated very well since it came into effect last month.

Furthermore, the reclassification also received the approval of the capital market regulator, Securities & Exchange Commission (SEC).

Kwairanga said the NGX team were ready to address the concerns of its international stakeholders within the T+1 framework.

“We made some proposals by aligning with the T+1, awaiting their outcomes. The trust, openness and participation of Big Institutional Investors and Custodians at the meeting made it a successful trip.”

In a recent post, Dr. Khalid Yusuf Ahmed extolled the leadership qualities of Kwairanga in respect of the reclassification process.

“True leadership is not defined by titles: It is defined by the ability to shape the future of institutions, markets, and nations. I was deeply inspired to learn that Umaru Kwairanga, the Chairman of the Nigerian Exchange Group (NGX), who has also been a father and my mentor in the field of finance and financial management, recently led the NGX delegation to the Nigeria T+1 Roundtable in London.

The engagement brought together representatives of Russell FTSE, international investors, and key market stakeholders to discuss issues surrounding Nigeria’s capital market classification and the country’s continued attractiveness as an investment destination. Behind engagements like these lies something far greater than a series of meetings.

They represent strategic efforts to strengthen investor confidence, enhance market credibility, improve capital flows, and reinforce Nigeria’s position within the global financial ecosystem. In today’s interconnected world, capital markets thrive on confidence, transparency, sound governance, and continuous engagement with global investors.

Strengthening these relationships is essential not only for market development but also for unlocking economic opportunities that drive business growth, job creation, innovation, and national prosperity. Watching this level of leadership reinforces an important lesson for me: strategic finance is not simply about financial statements or investment decisions.

It is about shaping institutions, influencing policy, building trust, and creating an environment where economies can flourish sustainably.

As Chairman of the NGX, his leadership continues to exemplify these principles. His vision extends beyond strengthening Nigeria’s capital market to contributing meaningfully to regional and global economic development through collaboration, institutional excellence, and long-term strategic thinking.

For many of us in the next generation of finance professionals, these moments are more than milestones; they are examples of the standard of leadership we aspire to emulate. They remind us that our profession carries a responsibility not only to create financial value but also to build stronger institutions, expand opportunities, and contribute to sustainable economic progress. I remain grateful for his mentorship and for the example he continues to set through service, humility, integrity, and excellence.

Equally commendable is the dedication of the entire NGX team, whose collective efforts continue to advance Nigeria’s capital market and strengthen its standing on the international stage.

To my mentor, thank you for demonstrating that true leadership is measured by the opportunities we create for others, the institutions we strengthen, and the legacy we leave behind.

Your commitment to Nigeria’s economic future and to the advancement of Africa’s capital markets continues to inspire many of us who are privileged to follow the path you and your team are helping to pave.”

 

AEDC Bemoans Power Supply Disruption in Maitama after Invasion of Sub-station by Land Grabbers

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The Abuja Electricity Distribution Company (AEDC) regrets to inform customers in Maitama and surrounding areas that it is presently unable to supply electricity from its C2 Maitama Substation following the invasion and unlawful encroachment of the facility by land grabbers led by an Assistant Director of FCDA, Mr. Chinedu Okoro.

The C2 Maitama Substation is a critical electricity distribution installation serving homes, businesses, diplomatic missions and government institutions. During the encroachment, vital electricity cables and other network infrastructure were damaged, making it unsafe and technically impossible to continue power supply from the facility.

AEDC has also petitioned the relevant authorities over the activities of individuals, as the substation and its land duly belongs to AEDC. The Company expects a thorough investigation and appropriate action in accordance with the law.

We strongly condemn any encroachment on critical national infrastructure, as such actions deprive communities of essential electricity supply, disrupt economic activities and compromise public interest.

AEDC regrets the inconvenience caused and assures customers that restoration efforts will commence as soon as the substation is secured and the damaged infrastructure is rebuilt. We appreciate the understanding and support of our customers as we work with the relevant authorities to resolve this unfortunate situation.

Signed

Management

Abuja Electricity Distribution Plc. (AEDC)

INTI International University Appoints Dr. Walter Duru as Research Fellow

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Renowned Nigerian communication scholar, public relations leader, and Associate Professor of Mass Communication at Achievers University, Owo, Dr. Chike Walter Duru, has been appointed a Research Fellow of INTI International University, Malaysia, in recognition of his distinguished contributions to strategic communication, media studies, governance, international development and communication research.

The appointment, which takes effect from 19 May 2026 through 31 December 2028, places Dr. Duru among an international network of scholars committed to advancing collaborative research, innovation, and global academic engagement.

According to the official appointment letter signed by the Vice-Chancellor of INTI International University, Professor Joseph Lee, the fellowship is designed to promote excellence in research, enhance institutional research standards, and foster international scholarly collaboration.

As a Research Fellow, Dr. Duru will participate in a broad range of academic and research activities, including collaborative research projects, international conferences, research symposiums, postgraduate supervision, guest lectures, research consultancy, curriculum development, and scholarly publications. The fellowship also provides opportunities for research funding and institutional support for the dissemination of research outputs.

The appointment represents another milestone in the career of one of Nigeria’s most accomplished strategic communication and development experts.

Dr. Duru currently serves as the Head of the Department of Mass Communication at Achievers University, Owo, where he combines academic leadership with extensive practical experience gained across the public, private, humanitarian, and international development sectors.

With more than two decades of professional experience, Dr. Duru has distinguished himself through exemplary leadership in strategic communication, governance reform, humanitarian response, media management, public affairs, stakeholder engagement, and institutional capacity development.

Until recently, he served as a Communication Expert with the United Nations Office for the Coordination of Humanitarian Affairs (UNOCHA) in Nigeria. He previously led communications for the Nigeria Digital Identification for Development (ID4D) Project, a landmark World Bank-supported national programme co-funded by the European Investment Bank and the French Development Agency.

His extensive consultancy portfolio includes serving as Lead Communication and Advocacy Consultant on major donor-funded governance initiatives such as the European Union-funded Rule of Law and Anti-Corruption (ROLAC) Programme and the UK Department for International Development (DFID)-supported Justice for All (J4A) Programme. His work has contributed significantly to strengthening transparency, Freedom of Information implementation, justice sector reforms, and citizen engagement.

Dr. Duru also served as Special Adviser on Media and Communications to the Governor of Imo State, where he spearheaded strategic government communication and public engagement initiatives. He is widely acknowledged as one of the pioneers of Nigeria’s Open Government Partnership (OGP) process, having co-chaired the Access to Information Working Group that advanced transparency and accountability reforms nationwide.

In 2015, Duru was named among Nigeria’s leading media executives after being screened and selected among the top four percent of executives in the sector. The recognition came with an Award of Excellence presented by a business research and publication firm led by Harvard-trained American executive Elvis Krivokuca.

His academic journey includes teaching and leadership appointments at the American University of Nigeria, Yola, Prime University, Abuja, Madonna University, and currently Achievers University, Owo. He has authored several textbooks, contributed chapters to scholarly publications, and published more than fifty peer-reviewed journal articles covering public relations, development communication, journalism, media studies, advertising, and African communication systems.

Reacting to the appointment, Dr. Duru described it as an important opportunity to deepen international research collaboration and contribute to knowledge production that addresses contemporary communication and development challenges.

“This fellowship provides an excellent platform for international academic collaboration, interdisciplinary research, and knowledge exchange. I look forward to working with colleagues at INTI International University to produce impactful research that contributes to communication scholarship and sustainable development.”

Colleagues and associates have described the appointment as a well-deserved recognition of Dr. Duru’s longstanding contributions to scholarship, policy development, governance reforms, and strategic communication practice across Africa.

Observers note that the fellowship further strengthens the international profile of Achievers University, Owo, and reflects the growing global recognition of Nigerian scholars making significant contributions to research, innovation, and development.

Dr. Duru holds a Ph.D. in Mass Communication from the University of Uyo, a Master’s degree in Mass Communication from the University of Nigeria, Nsukka, and a Bachelor’s degree in Mass Communication from Imo State University, Owerri.

He is a member of several professional bodies, including the Nigerian Institute of Public Relations (NIPR), the Nigeria Union of Journalists (NUJ), the African Council for Communication Education (ACCE), and the Association of Media and Communication Researchers of Nigeria (AMCRON).

World Skin Health Day 2026: Skin Health Beyond Skin Colour – Better Knowledge, Better Skin Health

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Dr. Folakemi Cole-Adeife

Consultant Physician and Dermatologist

LASUTH

Every year on July 8, dermatologists around the world commemorate World Skin Health Day, an initiative that seeks to improve awareness of skin diseases, promote healthy skin practices, and expand access to quality dermatological care for everyone.

This year’s global theme, “Better Knowledge, Better Skin Health,” highlights a simple but powerful message: when people have accurate information about skin health, they are better equipped to prevent disease, recognise warning signs early, make informed decisions, and seek appropriate care.

In Nigeria, the Nigerian Association of Dermatologists is commemorating World Skin Health Day with the campaign “Skin Health Beyond Skin Colour.”

This campaign aims to shift the conversation from changing skin colour to protecting skin health. It reminds us that healthy skin is not determined by how light or dark it is. Healthy skin is skin that performs its natural functions, protects the body from disease, and contributes to overall wellbeing.

Skin diseases are among the most common health conditions worldwide, affecting people of all ages. They include infections, eczema, acne, psoriasis, vitiligo, albinism-related skin complications, fungal infections, skin cancers, and many other conditions.

Although many skin diseases are preventable or treatable, delayed presentation, misinformation, self-medication, and limited access to specialist care often result in avoidable complications.

One of the major public health concerns receiving attention during this year’s campaign is the growing practice of skin bleaching. Across many African countries, the use of skin-lightening products has become increasingly common, driven by harmful beauty standards, colourism, misinformation, and aggressive marketing. Many of these products contain dangerous ingredients such as potent corticosteroids, mercury, or excessive concentrations of hydroquinone.

Their prolonged use can cause permanent skin damage, severe acne, difficult-to-treat infections, stretch marks, delayed wound healing, kidney damage, adrenal suppression, and other serious health complications.

Skin bleaching is therefore not merely a cosmetic issue—it is a significant public health concern that requires education, stronger regulation, responsible marketing, and community engagement.

Throughout this year’s World Skin Health Day activities, the Nigerian Association of Dermatologists is collaborating with government agencies, healthcare professionals, pharmacists, public health experts, civil society organisations, and community leaders to promote evidence-based skin health education. Activities include community outreaches, healthcare worker training, stakeholder engagement, public lectures, digital advocacy, and a Pan-African webinar bringing together experts from across the continent to discuss strategies for reducing the burden of skin bleaching in Africa.

Our campaign also seeks to challenge myths surrounding skincare. Healthy skin does not require harsh products or unnecessary cosmetic procedures. Simple daily practices—including gentle cleansing, regular moisturising, sun protection, prompt treatment of skin conditions, and avoiding unregulated products—can significantly improve skin health.

We encourage Nigerians to obtain skincare information from qualified healthcare professionals rather than relying on misinformation circulating on social media or advice from unqualified vendors. Persistent rashes, non-healing wounds, changing moles, severe itching, unexplained skin colour changes, or other persistent skin problems should be assessed by trained healthcare providers.

As we commemorate World Skin Health Day 2026, we call on every Nigerian to embrace healthy skin practices, celebrate the beauty of all-natural skin colours, reject harmful skin bleaching, and support efforts to improve skin health for everyone.

Our message this year is simple:

Healthy beautiful skin comes in all skin colours.

Let us prioritise skin health over skin tone, knowledge over misinformation, and prevention over cure.

Together, through better knowledge, we can achieve better skin health for all.

Stanbic IBTC Deepens Commitment to MSME Growth through Strategic Partnership with Abia State

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Stanbic IBTC has reaffirmed its commitment to accelerating the growth of Micro, Small and Medium Enterprises (MSMEs) across Nigeria through strategic partnerships with state governments and institutions committed to creating enabling environments for businesses to thrive.

The company made this commitment during its Nigeria Business Summit Regional Tour held in Aba, in partnership with the Abia State Government, to deliver business enlightenment sessions, funding masterclasses, enterprise advisory services and capacity-building programmes for entrepreneurs. The regional tour kicked off at the appropriate time, following the 2026 World MSME Day commemoration in late June.

The event saw a convergence of government officials, business leaders, development partners, financial institutions and entrepreneurs to explore practical strategies for unlocking sustainable growth opportunities for MSMEs, while strengthening collaboration between the public and private sectors.

Speaking at the event, the Honourable Commissioner for Industry and SMEs, Mazi Michael Enyinnaya Akpara, reiterated Abia State Government’s commitment to building one of Nigeria’s most competitive enterprise ecosystems through deliberate policy reforms and strategic initiatives.

According to him, the State is currently developing a comprehensive MSME Policy to provide a clear framework for enterprise development, while also establishing a statewide MSME Directory to improve business visibility and access to investment opportunities.

He further announced plans for the National Brands Development and Made-in-Nigeria Project (Abia Expo 2026), an initiative designed to showcase the ingenuity of Nigerian businesses, strengthen locally manufactured products and position Abia as Nigeria’s preferred destination for quality local production.

“Abia State is intentionally building an ecosystem where businesses can start, grow, compete and access markets both locally and internationally. Through the development of the State MSME Policy, the MSME Directory and the National Brands Development and Made-in-Nigeria Project, we are laying the foundation for sustainable enterprise growth. Partnerships with organisations like Stanbic IBTC are critical to achieving this vision because government cannot build a thriving MSME ecosystem alone,” he said.

Commenting on Stanbic IBTC’s broader role in supporting Nigerian businesses, Chuma Nwokocha, Chief Executive, Stanbic IBTC Holdings, said: “Businesses do not scale in isolation. They scale when they have access to capital; to intelligence; and to the platforms that connect them to wider markets.”

Chuma further added: “We will accelerate MSME graduation through value chain finance, structured lending, and the credit and advisory capability that turns promising businesses into durable ones. And we will invest in the sectors that will define Nigeria’s next decade.”

Also speaking, Executive Director, Business and Commercial Banking, Stanbic IBTC Bank, Remy Osuagwu, noted that the company is taking a more deliberate, nationwide approach to supporting entrepreneurs by bringing practical business support closer to where businesses operate.

“Our ambition is to become the partner of choice for Nigerian businesses wherever they operate. We are taking our support beyond traditional banking by delivering business education, advisory services, capacity-building programmes and access to financing directly to entrepreneurs across the country. Following Aba, we will continue this journey across key commercial centres including Kano, Ibadan and Onitsha, working alongside governments and enterprise support organisations to help businesses unlock sustainable growth,” he said.

The goodwill message from Stanbic IBTC, delivered by Olajumoke Bello, Head, Enterprise Banking, Stanbic IBTC Bank, reinforced Aba’s importance as one of Nigeria’s leading centres for manufacturing, trade, and entrepreneurship. The company noted that the city’s vibrant business community makes it a strategic location for its MSME development agenda, adding that its partnership with Abia State Government reflects its confidence in the potential of businesses across the state.

Stanbic IBTC further stated that its commitment extends beyond the summit, with continued support for entrepreneurs through knowledge, tools, partnerships, and financial solutions designed to help them scale and compete successfully.

The company noted that its engagement in Abia forms part of a broader national strategy to strengthen MSME ecosystems across Nigeria through partnerships with governments and organisations committed to enterprise development. Building on the momentum from Aba, Stanbic IBTC will continue its regional MSME engagement programme across other major commercial and industrial centres, including Kano, Ibadan and Onitsha, with plans to extend similar initiatives to additional regions across the country.

Through these engagements, entrepreneurs will have access to practical business training, capacity-building programmes, advisory services, networking opportunities and financing solutions designed to help them build resilient and competitive businesses.

Businesses interested in learning more about Stanbic IBTC’s SME solutions, upcoming capacity-building programmes and regional engagements can visit Stanbic IBTC’s website via www.stanbicibtc.com and follow @stanbicibtc across its social media platforms for updates on future events and opportunities.

 

Tinubu’s Biggest Opponent is Not Obi or Atiku… It’s Tinubu

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By Moses Braimah

“A government that spends more time explaining the

 opposition than explaining its achievements may

already know where its real problem lies.”

Nigeria is a fascinating country. 

Explain it to someone and watch them nod eagerly, only for them to confess moments later: “I still don’t understand.” If you claim to fully grasp Nigeria, you are either a genius or nobody explained it properly.

Take our politics. 

President Bola Ahmed Tinubu sits in Aso Rock with every lever of power firmly in hand: constitutional authority, federal machinery, a ruling party that controls the National Assembly, the loyalty of most governors, ministerial appointments, security agencies, and the full weight of incumbency. He has time, plenty of it, before 2027.

Yet somehow, Peter Obi still haunts the dreams of many in the corridors of power. How?

Even if we accept the official narrative without question; INEC declared Tinubu winner, the judiciary affirmed it, case closed – the reality remains: Obi came third, Atiku second. Simple arithmetic.

So why does every political conversation treat Peter Obi like the man in Aso Rock and Tinubu like the opposition candidate campaigning from the streets? Something is seriously off balance.

President Tinubu, please note. The Real Opposition Lives in the Market.

Tinubu’s greatest political opponent is not Peter Obi.  It is not Atiku Abubakar.

It is not social media, the NDC Party, or the ADC.  It is the ordinary Nigerian, the woman haggling for tomatoes and rice in the market, the father staring at fuel prices and school fees every single morning.  That voter is the real opposition. You cannot arrest her. You cannot suspend him. You cannot drown that frustration in press releases.

The electorate has a simple, unforgiving logic: when happy, they reward. When hurting, they look elsewhere. Politics is not more complicated than that.

Please don’t forget, talk is cheap. But Nigerians want evidence.

Nigerians have perfected two arts: listening carefully, and comparing what they hear with what they feel in their pockets and bellies. Government speaks of reforms. The people speak of hardship. Government talks of laying foundations. The people ask, “Foundations for how long?”  Government preaches patience. The people reply, “Na patience we don dey chop since 1999?”

Nobody denies that fuel subsidy removal and exchange-rate reforms were economically inevitable. Many experts agree. But economic theory does not fill plates or pay bills. Economists celebrate policy. Citizens celebrate results. No one cooks textbooks for dinner.

One interesting thing is that the Tinubu Propaganda Department is working overtime.

Listen to some government defenders and you’ll be entertained. Instead of showcasing tangible improvements in living standards, they expend enormous energy attacking Obi, Atiku, or whoever is trending.

One wonders: if the report card is that impressive, why spend the entire PTA meeting discussing another student’s failures? Show us your results. Instead, the propaganda machine runs non-stop. Every criticism is labelled “political.” Every complaint is “sponsored.” Every protest is “opposition.” Every dissenting economist is “anti-government.” Every uncomfortable headline is a “conspiracy.”

Even a generator deserves time to rest.

The big question: who exactly is Tinubu afraid of?

The President commands: The power of incumbency, Federal resources, over 30 aligned governors, The National Assembly, Strategic appointments, Security agencies, and Nationwide party structures.

Add the vocal defenders: Bayo Onanuga, Daniel Bwala, Seyi Tinubu, Godswill Akpabio, Reno Omokri, Femi Fani-Kayode, Chief Priest, MC Oluomo, the Iyaloja network, political influencers, media allies, strategists, content creators, and even that your uncle quarrelling on WhatsApp every morning.

Yet, everyone behaves as if one man with a microphone somewhere is about to topple the government. Why?

Now listen and listen very carefully. The Mirror is the Real Opposition 

Perhaps the government is staring in the wrong direction. Peter Obi and Atiku are not the threat. Their supporters can rally, grant interviews, trend hashtags, and make videos, that is democracy. But none of them will decide Tinubu’s fate in 2027.

The real deciders are the trader in Ariaria, the mechanic in Kaduna, the teacher in Osogbo, the banker in Lagos, the farmer in Benue, the civil servant in Enugu, the unemployed graduate in Kano.

When these people begin to say, “Yes, life is genuinely getting better,” the campaign is already won. Until then, every billboard is mere decoration.

Do you know that even Lagos is trying to tell us something? Supporters love pointing to Tinubu’s Lagos legacy. Fair enough, the city has grown remarkably. But politics has a long and stubborn memory.

If Lagosians were completely satisfied after decades of dominance, elections there would not be growing more competitive. But they are not. That should be a loud signal.  The last presidential result in Lagos says it all.

Nigeria is thirty times more complex than Lagos. If your own political fortress is becoming contested despite years of control, perhaps the answer is not to shout louder. Perhaps, it is to govern better.

Always remember-good governance is the Best Campaign Director.

Some assume that Tinubu’s perceived political experience guarantees victory. Politics does not work that way. Experience only wins when it delivers visible outcomes.

People are not demanding perfection. They are asking for evidence, reasons to believe that tomorrow will be better than today. That is not too much to ask.

My friendly piece of advice to reflect on. Ironically, Peter Obi and Atiku Abubakar may be doing this government a greater service than some of its loudest supporters. They keep reminding it that Nigerians are watching.

Opposition is not the disease. It is often the thermometer. Smashing the thermometer has never cured a fever.

Mr. President still has time, more than enough. 

If governance becomes more visible than propaganda… If performance begins speaking louder than spokespersons…If ordinary Nigerians start feeling genuine relief…Then 2027 may prove far easier than many now fear.

But if the administration continues treating every challenge as though it wears Obi or Atiku’s face, it may one day wake up to discover its real opponent had no political party. It was simply public opinion. And public opinion, unlike politicians, cannot be negotiated with.

As we say in Nigeria: “Na person wey wear shoe know where e dey pinch.” 

The people know exactly where Nigeria is pinching them. The sooner government listens to that pain instead of arguing with those describing it, the better its chances, not just at the next election, but in crafting a legacy that outlives elections.

A word, they say, is enough for the wise.

  • Braimah is an advocate for good governance and sustainable progress.