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FG Inaugurates Committee on Grid Asset Management Company to Boost Power Sector

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President Bola Tinubu has constituted an 11-member committee to ensure the smooth sailing incorporation of the Grid Asset Management Company Limited (GAMCO).

The constitution of the committee followed the Federal Executive Council’s approval for the establishment of the company at its Wednesday meeting. In proposing GAMCO, President Tinubu hopes to fast-track a quick-fix solution to the endemic problems of stranded power, grid management and transmission in the country’s electricity sector.

The Chief of Staff to the President, Femi Gbajabiamila, who performed the inauguration on behalf of the President, said the committee was critical to the realisation of President Tinubu’s aspirations in Nigeria’s power sector.

“The proposed establishment of GAMCO is one of the revolutionary steps taken by Mr President and this administration in the all – important power sector.  We are here for the inauguration of the Committee on Grid Asset Management Company (GAMCO), which is basically to optimise and revolutionise power generation, and in particular, the grid and transmission sector,” the Chief of Staff said.

He called on members to align with the President’s vision in proposing the formation of GAMCO and to stick to the committee’s mandate.

The Chief of Staff said the committee will conduct a comprehensive review of existing laws, regulations, policies, and institutional frameworks governing the electricity value chain, including generation, transmission, distribution, and market operations.

It will examine the implications of the Electricity Reform Laws (2025) and related unbundling arrangements on asset ownership, management, and regulatory oversight. It will identify areas of conflict, overlap, or inconsistency between the proposed GAMCO framework and extant legal and regulatory instruments.

The committee will also assess the legal status, ownership structure, and contractual obligations of the Niger Delta Power Holding Company (NDPHC) and National Integrated Power Project (NIPP) assets, including the Omotosho, Olorunshogo, and Ihovbor plants, which GAMCO plans to use for its pilot phase.

It will evaluate the interface between GAMCO’s proposed mandate and the statutory functions of the Nigeria Electricity Regulatory Commission, and determine the fiscal, financial, and market implications of the proposal, including subsidy exposure, market liquidity, and revenue frameworks.

In addition, the committee will determine whether the establishment and operationalisation of GAMCO require amendments to primary legislation, subsidy regulations, and executive directives.

The Chief of Staff to the President is the Chairman of the Committee, with the Attorney–General of the Federation and Minister of Justice, and the Ministers of Power, Works, and Finance as members.

Others include the Ministers of Communication and Digital Economy, Science, Technology and Innovation, Aviation and Aerospace Development, the Minister of State (Petroleum), the Chairman of the Nigeria Revenue Service, and energy expert Professor Yemi Oke.  The Permanent Secretary of the Cabinet Affairs Office, Dr John Chidiebere Ezeamama, is the committee’s secretary.

The Grid Asset Management Company Limited (GAMCO) aims to recover and optimise stranded power generation using the Benin-Lagos transmission corridor as a pilot phase.

The initiative will address Nigeria’s power sector challenges through optimisation, private capital mobilisation, and disciplined asset management, ultimately improving electricity reliability and national competitiveness.

The Federal Government will fully own GAMCO as a commercial venture, with the shares held by the Ministry of Finance Incorporated.

The company will modernise transmission evacuation, starting from the most critical axis within Nigeria’s power system. The Benin-Lagos transmission corridor evacuates bulk power supply to Ogun and Lagos states, Nigeria’s largest industrial and commercial centres.

The pilot phase will focus on optimising power output from the Omotosho, Olorunsogo and Ihovbor National Integrated Power Plants (NIPP plants). Omotoso’s installed capacity is 513MW, Olorunsogo’s 754 MW, and Ihovbor’s 508 MW.

GAMCO projects to recover at least 1,600 MW within 18-24 months, alongside the development of a new high-capacity 330V+ double-circuit transmission line along the same corridor.

The success of the new company during the pilot phase will lead to the establishment of a scalable model that can be extended across additional plants and corridors, forming the backbone of long-term grid stabilisation and expansion.

At present, substantial Federal Government investment in NIPP generation assets remains under-optimised due to operational inefficiencies and transmission evacuation bottlenecks, resulting in stranded capacity and suboptimal return on public capital.

GAMCO plans to unlock the stranded power of the three selected NIPP and develop a parallel high-capacity transmission corridor along the Benin-Lagos axis, thus translating underperforming national assets into reliably delivered megawatts.

As proposed, the Niger Delta Power Holding Company will grant GAMCO the concession and lease arrangements for the three plants. TCN will grant GAMCO the right to develop, finance, and operate a greenfield 330KV+ double-circuit independent power transmission line along the identified corridor.

The ultimate aim of the initiative is to enhance industrial productivity, safeguard jobs, improve investor confidence, and boost welfare outcomes for Nigerian households, aligning with the Renewed Hope Agenda of the Tinubu administration.

Tinubu Approves Posting of 31 Career, 34 Non-Career Ambassadors

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President Bola Ahmed Tinubu has approved the postings of 31 career and 34 non-career ambassadors to various countries and the United Nations. The Senate confirmed the ambassadors-designate last December.

POSTINGS OF NON-CAREER AMBASSADORS / HIGH COMMISSIONERS

S/N NAME MISSION APPROVED

  1. SENATOR GRACE BENT: LOME-TOGO
  2. SEN. ITA ENANG: SOUTH AFRICA
  3. IKPEAZU VICTOR: SPAIN
  4. NKECHI LINDA UFOCHUKWU: TEL-AVIV, ISRAEL
  5. MAHMUD YAKUBU: QATAR
  6. PAUL OGA ADIKWU: THE VATICAN CITY HOLY SEE
  7. VICE ADMIRAL IBOK-ETE EKWE IBAS: THE PHILIPPINES
  8. MR. RENO OMOKRI: MEXICO CITY, MEXICO
  9. HON. (ENGR.) ABASI BRAIMAH (FMHR): BUDAPEST, HUNGARY
  10. MRS. ERELU ANGELA ADEBAYO: PORTUGAL
  11. BARR. OLUMILUA OLUWAYIMIKA AYOTUNWA: TOKYO, JAPAN
  12. RT. HON. UGWUANYI IFEANYI LAWRENCE: ATHENS, GREECE
  13. BARR. CHIOMA PRISCILLA OHAKIM: WARSAW, POLAND
  14. AMINU DALHATU: UNITED KINGDOM, UK
  15. LT. GEN. ABDULRAHMAN BELLO DAMBAZAU: BEIJING, CHINA
  16. HON. TASIU MUSA MAIGARI: GAMBIA
  17. OLUFEMI PEDRO: AUSTRALIA
  18. BARR. MUHAMMED UBANDOMA ALIYU: ARGENTINA
  19. LATEEF KAYODE ARE: USA
  20. AMB. JOSEPH SOLA IJI: RUSSIA
  21. SEN. JIMOH IBRAHIM: UN PERMANENT REPRESENTATIVE
  22. FEMI FANI KAYODE: GERMANY
  23. PROF. ISAAK FOLORUNSO ADEWOLE: OTTAWA, CANADA
  24. AJIMOBI FATIMA FLORENCE (F): AUSTRIA
  25. MRS. LOLA AKANDE (F): SWEDEN
  26. AYODELE OKE: FRANCE
  27. YAKUBU N. GAMBO: SAUDI ARABIA
  28. SENATOR PROF. NORA LADI DADUUT: SEOUL, SOUTH KOREA
  29. BARR. ONUEZE CHUKWUJIKA JOE OKOCHA SAN: DUBLIN
  30. DR. KULU HARUNA ABUBAKAR: TUNIS, TUNISIA
  31. RT. HON. JERRY SAMUEL MANWE: PORT OF SPAIN, T&T

 

POSTINGS OF CAREER AMBASSADORS / HIGH COMMISSIONERS LIST

S/N   NAME                                   MISSION APPROVED

 

  1. AMB. NWABIOLA EZENWA CHUKWUMEKA: COTE D’IV/OIRE
  2. BESTO MAIMUNA IBRAHIM: NIAMEY-NIGER
  3. MONICA OKWUCHUKWU ENEBECHI: SAO TOME, STP
  4. AMB. MOHAMMED MAHMUD LELE: ALGIERS-ALGERIA
  5. ENDONI SYNDOPH PAEBI: OUAGADOUGOU-BURKINA FASO
  6. AHMED MOHAMMED MONGUNO: CAIRO EGYPT
  7. AMB.JANE ADAMS (NEE OKON) MICHAEL (F): KINGSTON-JAMAICA
  8. AMB. CLARK-OMERU ALEXANDRA (F): LUSAKA-ZAMBIA
  9. CHIMA GEOGGREY LIOMA DAVID: BAMAKO-MALI
  10. AMB. ODUMAH YVONNE EHINOSEN: MALABO –E/GUINEA
  11. AMB WASA SEGUN IGE: BEIRUT, LEBANON
  12. RUBEN ABIMBOLA SAMUEL (F): ROME, ITALY
  13. AMB.ONAGA OGECHUKWU KINGSLEY: MAPUTO, MOZAMBIQUE
  14. AMB.MAGAJI UMAR: KINSASHA, DR CONGO
  15. AMB.MUHAMMAD SAIDU DAHIRU: NEW DELHI-INDIA
  16. AMB. ABDUSSALAM HABU ZAYYAD: DAKAR-SENEGAL
  17. AMB SHEHU ILU BARDE: ACCRA GHANA
  18. AMB.AMINU NASIR: ETHIOPIA
  19. ABUBAKAR MUSA MUSA: N’DJAMENA, CHAD
  20. AMB. HAIDARA MOHAMMED IDRIS: THE HAGUE-NETHERLANDS
  21. AMB.BAKO ADAMU UMAR: RABAT-MOROCCO
  22. AMB. SULU GAMBARI OLATUNJI AHMED: MALAYSIA
  23. AMB.ROMATA MOHAMMED OMOBOLANLE (F): TANZANIA
  24. AMB. SHAGA JOHN SHAMAH: BOTSWANA
  25. SALAU, HAMZA MOHAMMED: TEHRAN, IRAN
  26. AMB.IBRAHIM DANLAMI: KENYA
  27. IBRAHIM ADEOLA MOPELOLA (F): COTONOU-BENIN
  28. AMB.AYENI ADEBAYO EMMANUEL: BRUSSELS, BELGIUM
  29. AMB.AKANDE WAHAB ADEKOLA: BERNE-SWITZERLAND
  30. AMB. AREWA (NEE ADEDOKUN) ESTHER (F): WINDHOEK-NAMIBIA
  31. AMB.GERGADI JOSEPH JOHN: LIBREVILLE-GABON
  32. AMB. LUTHER OGBOMODE AYO-KALATA (F): SIERRA LEONE
  33. DANLADI YAKUBU NYAKU : KHARTOUM-SUDAN
  34. BELLO DOGON-DAJI HALIRU: BANGKOK, THAILAND

The Ministry of Foreign Affairs has already received agrément from the United Kingdom for the High Commissioner-designate, Ambassador Aminu Dalhatu. Similarly, France has sent the agrément for Ambassador Ayo Oke.

The Ministry has also conveyed the nominations of the other 62 designated envoys to all the countries concerned, including a request for their agréments in line with standard diplomatic practice.

President Tinubu has directed that the Ministry of Foreign Affairs should immediately commence the induction programme for the ambassadors-designate and High Commissioners.

IWD 2026: Pathway Holdings ED, Dolapo Akanbi-Alade, Urges Stronger Inclusion of Women in Finance

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The Executive Director/GCOO of Pathway Holdings Limited, Mrs. Dolapo Akanbi-Alade, has called for increased inclusion of Nigerian women in finance as the world marks International Women’s Day 2026.

In a statement, Akanbi-Alade noted that while International Women’s Day highlights the need for gender equality, significant progress requires deliberate policies and systems that expand women’s access to finance and leadership opportunities.

She emphasised that many Nigerian women and women-led businesses still face limited access to finance, highlighting the urgent need for targeted inclusion initiatives.

“At Pathway Holdings, we empower women and give access to investment advisory, asset management, and lending solutions for institutions, high-net-worth individuals, and businesses. Ensuring that women and women-led enterprises can access these opportunities is critical to building a more inclusive financial system,” she added.

Mrs. Akanbi-Alade said: “Women’s access to finance is not only a social responsibility but essential for national productivity and economic growth.’’

She co-founded the following companies:

Pathway Asset Management Limited: Is registered and regulated by the Securities and Exchange Commission, Nigeria, as a Fund and Portfolio Manager. The product range includes Pathway Fixed Deposit Notes, Privately Managed Notes, Pathway Private Portfolio Management, Investment Advisory, and Mutual Funds, which will be launched soon.

Pathway Advisors Limited: Is registered and regulated by the Securities and Exchange Commission (SEC) as an Issuing House and financial adviser.  Pathway Advisors’ services cover Mergers and Acquisitions (M&A), Capital-Raising, Financial Advisory, Rating Advisory, and Project and Structure Finance.

Fundbox Financial Services Limited: A wholly owned micro-lending company providing short-term personal and SME finance loans to salaried individuals, self-employed personnel, and small businesses. They offer services which include Cars4Cash, SME Loans, Personal Loans and Group Employee Loans. Fundbox has successfully disbursed a wide range of loans to both corporate and individual clients, supporting their financial needs and business growth.

Pathway Holdings Limited is a notable investment holding firm focusing on private market investments, including private equity, private credit, and infrastructure. Pathway creates customised investment solutions for institutional investors and individuals, leveraging its extensive experience and local footprint.

 

 

IWD 2026: Ecobank Nigeria Unveils Enhanced ‘Ellevate’ Programme to Accelerate Growth for Women Entrepreneurs

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Ecobank Nigeria, a subsidiary of the leading pan-African financial services group Ecobank Group, has unveiled a significantly enhanced version of its multi-award-winning gender financing initiative, Ellevate by Ecobank, as part of activities commemorating International Women’s Day 2026. The upgraded programme reinforces the bank’s long-term commitment to advancing women-led enterprises in Nigeria and across Ecobank’s pan-African footprint.

Originally launched to improve access to finance for women-owned, women-led, and women-focused small and medium-sized enterprises (SMEs) within its Commercial Banking segment, the enhanced Ellevate programme now adopts a broader, more inclusive structure. The new framework extends across all business segments, positioning Ellevate as a comprehensive ecosystem designed to address the structural financing and growth barriers faced by women entrepreneurs.

Speaking on the development, Managing Director of Ecobank Nigeria, Bolaji Lawal, said the enhanced programme further strengthens the bank’s ambition to be the financial partner of choice for women entrepreneurs.

“Since its launch in Nigeria in July 2021, Ellevate has delivered meaningful impact for SMEs and women-led businesses. This next phase deepens our value proposition and reinforces our resolve to remain the preferred financial partner for women entrepreneurs,” he said.

Under the expanded structure, beneficiaries will enjoy improved access to credit on competitive terms, including more flexible collateral considerations aimed at easing traditional financing constraints. Beyond lending, the programme integrates digital payment, collections, and cash management solutions to enhance operational efficiency and support scalability.

A core pillar of the enhancement is structured market access. Through the bank’s MyTradeHub online matchmaking platform and e-commerce enablement capabilities, women entrepreneurs will be better positioned to connect with customers and trade partners across Africa, facilitating cross-border expansion and participation in regional value chains.

The initiative also incorporates robust non-financial support mechanisms, including targeted training programmes, leadership development sessions, and knowledge-sharing platforms to strengthen managerial capacity and long-term sustainability.

This is complemented by access to customised wealth management advisory services, integrated insurance solutions, and a loyalty framework offering commercial incentives through select retail and lifestyle partnerships.

Lawal noted that the programme aligns with Ecobank’s broader ambition to drive inclusive growth by empowering women as critical contributors to economic development.

“African businesswomen deserve world-class banking solutions that drive turnover, profitability, and sustainable growth. Our approach goes beyond financial inclusion to building an enabling ecosystem that enhances competitiveness and long-term resilience,” he added.

He further highlighted that Ecobank Nigeria consistently hosts flagship platforms such as Adire Lagos, Oja Oge, +234Art Fair, the Lagos Pop-Up Museum, SME Bazaar, and the Design & Build Exhibition, which provide prominent opportunities for showcasing and elevating women-owned businesses.

With this enhancement, Ecobank Nigeria deepens its strategic positioning in gender-lens financing while aligning with its wider pan-African mandate to advance financial inclusion, SME development, and regional trade integration.

‘Winning with Strategic Communications’ Launch, Targets Real-World Impact

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Godfrey Adejumoh, a seasoned top-performing Global Business Communications Strategist and Thought Leader, is set to launch a book titled, ‘Winning with Strategic Communications: Essential Strategies for the Next Generation of Leaders.’

Winning with Strategic Communications, is a veritable playbook for navigating today’s complex world of leadership, communication, and influence. It is an important book for communications leaders of all ages. In this book, Godfrey distils years of lived experience, professional insights, and lessons from the frontline of Public Relations into clear, actionable strategies.

At its heart, this work seeks to bridge the often-wide gap between theory and practice. While academia provides the frameworks, Winning with Strategic Communications reveals how those frameworks come alive in the real world.

With practical guidance, compelling examples, and a strong grounding in strategic communications, it offers readers a toolkit to lead with clarity, confidence, and impact. Within these pages, budding leaders, communication professionals, and entrepreneurs will each discover insights to guide their journey.

This is not just a book to be read; it is a manual to be applied. It challenges assumptions, sharpens leadership instincts, and equips the next generation of leaders to win, not by chance, but with strategy.

Winning with Strategic Communications is a Roadmap to the Top!

Godfrey Adejumoh is a seasoned top-performing Global Business Communications Strategist and Thought Leader.

He has extensive experience in Public Relations, strategic corporate communications, policy advocacy, campaign planning/implementation, public affairs/government relations, sustainability/ESG, and corporate social responsibility (CSR).

With over 15 years’ experience, he has contributed to the reputation management of different multinationals (Diageo, Unilever, MTN, DHL, Accenture, LG and more) across sectors.

He has evolved into a trusted advisor to C-Suite Executives, board members and a rounded business leader, through his career journey that started in Public Relations consultancies.

He is a public speaker leading the discourse on how strategic business communications play a vital role in crafting winning business strategies, contributing to growing and sustaining high performance for businesses.

His public speaking and mentorship cut across various reputable platforms – O2 Academy Lagos, Orange Academy Lagos, Lagos Business School (LBS), Pan Atlantic University, Nile University, University of Lagos (UNILAG), Osun State, University, Nigeria Institute of Public Relations (NIPR), Nigeria Institute of Journalism (NIJ), among others.

Godfrey has a keen interest in developing the next generation of business leaders through strategic business communications to contribute to high performance for businesses and developing strategies to help reposition companies to maintain growth within a sustainable development framework.

 

IWD 2026: Why Women’s Inclusion is Central to Nigeria’s Democratic Future

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As the global community commemorates International Women’s Day 2026 under the theme “Give to Gain,” the Executive Director, Centre for Media and Society, CEMESO, Dr. Akin Akingbulu, has called for a deliberate restructuring of Nigeria’s political and media power architecture, asserting that democratic resilience and economic growth depend on institutional inclusion—not rhetorical commitment.

According to Dr. Akingbulu, Nigeria’s democratic stability and long-term prosperity are inseparable from the intentional redistribution of power, visibility, and protection within its governance and information systems.

“The promise of ‘Give to Gain’ is not sentimental,” he stated. “It is economic, democratic, and structural. No nation can exclude half of its population from influence and still claim legitimacy or sustainable development.”

He explained that the theme demands clarity about what must be given—and what the country stands to gain. Political parties, media proprietors, and institutional gatekeepers must relinquish exclusionary patronage networks, biased editorial gatekeeping, and the tolerance of digital violence that systematically push women out of public discourse.

In return, Nigeria gains strengthened democratic credibility, expanded productivity, and deeper public trust.

Global economic projections indicate that full integration of women into economic life could raise national GDP by nearly nine percent. Likewise, a media ecosystem that reflects the diversity of its population enhances democratic legitimacy and citizen confidence.

Akingbulu further observed that Nigeria continues to operate within what he described as a regime of “rhetorical equality,” where constitutional guarantees are undermined by weak enforcement. Women currently occupy only 3.7 percent of Senate seats and 4.4 percent of seats in the House of Representatives—significantly below the 35 percent benchmark articulated in national gender policy. Wage disparities ranging from 20 to 30 percent persist across sectors, while millions of women remain constrained by structural barriers to safety, health, and bodily autonomy. These gaps, he emphasized, are not peripheral social concerns—they are governance vulnerabilities that weaken institutional performance and public trust.

He cautioned against treating Nigerian women as a homogeneous category, underscoring the intersectional realities that deepen exclusion. Rural women operating within informal agricultural economies remain locked out of formal credit markets due to customary land tenure systems.

In parts of Nigeria, insecurity continues to suppress female school attendance, while women in conflict-affected regions face compounded risks of displacement and exclusion from formal peacebuilding processes. “Inclusion must be granular,” Dr. Akingbulu noted. “If reform does not account for geography, age, disability, and conflict exposure, inequality simply reappears under a new label.”

Within the media sector itself, CEMESO identifies patterns that mirror broader political marginalisation. Female experts remain underrepresented in policy debates and election coverage, while female political actors are frequently relegated to soft-feature reporting or subjected to gendered framing. Digital harassment has created what Dr. Akingbulu described as a “chilling effect,” discouraging women journalists, analysts, and candidates from sustained civic engagement. “Nigeria cannot broadcast its way out of a governance crisis using only half its voices,” he asserted. “To ‘Give to Gain’ means dismantling entrenched newsroom hierarchies and enforcing safety standards that protect female journalists from both physical and digital intimidation.” We are not merely commemorating a day; we are demanding a fundamental shift in editorial power and increase participation of women in the electoral process through the passage of the Special Seats Bill (HB 1349). Without gender parity in both the ballot box and the newsroom, our democratic architecture lacks the foundation to withstand the pressures of 2027 and beyond.”

Reaffirming CEMESO’s mandate in media development and democratic strengthening, Dr. Akingbulu stressed that the organisation’s commitment extends beyond advocacy. “We are not calling for symbolic gestures,” he stated. “We are investing in institutional mechanisms that make inclusion measurable, monitorable, and enforceable.”

Accordingly, CEMESO urged the media to uptake its resources on Gender Sensitive Guidelines for Media Coverage of the Electoral Process in Nigeria, It also assured of its commitment  to expand its gender-sensitive media interventions to track representation trends in political and governance reporting; strengthen digital safety and protection toolkits for female journalists and civic actors confronting online abuse; and deepen capacity-building initiatives that widen the pipeline of women experts across broadcast, print, and digital platforms. These interventions are designed to normalise women’s leadership within the public information ecosystem and reduce structural bias in political communication.

CEMESO also called on critical stakeholders to act decisively, urging the National Assembly to pass the Special Seats Bill (HB 1349) to ensure that women’s representation moves beyond the current stagnation which is below five percent.

State governments were encouraged to fully implement and adequately fund protective legislation that safeguards women’s rights and participation. Media proprietors were advised to institutionalise gender-sensitive editorial standards and sanction harassment within newsrooms. Political parties were challenged to adopt transparent nomination processes and structured support systems that reduce the financial and structural barriers confronting female candidates.

The election management body urged to review and strengthen its gender policy to promote inclusive electoral processes and ensure greater participation of women in Nigeria’s political space.

Concluding, Dr. Akingbulu emphasised that the road to 2030 demands more than ceremonial observance. “Equality is not a concession—it is infrastructure,” he said. “If Nigeria gives women equitable access to power, protection, and platforms, the nation will gain economic stability, democratic legitimacy, and social cohesion. The cost of exclusion is stagnation. The dividend of inclusion is national resilience.”

On this International Women’s Day, CEMESO reiterates that the future of Nigeria’s democracy will be determined not by commemorative statements, but by whether institutions are prepared to relinquish entrenched privilege in order to build a more prosperous and legitimate nation.

CBN: N4tn Capital Raised, Verified in Sector Recapitalisation as at Feb 19

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The Governor, Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, says the apex bank as of February 19, 2026 has verified and approved capital raised under the recapitalisation programme to the tune of 4.05 trillion.

He provided a breakdown showing that 2.90 trillion (71.67%) was mobilised domestically, while US$706.84 million, estimated at 1.15 trillion (28.33%), reflected foreign participation.

According to the Governor, this balanced mix signals broad investor engagement and growing confidence in the sector.

Cardoso stated that the banking sector recapitalisation programme is progressing in accordance with the approved regulatory timetable, with activity accelerating as the March 31, 2026, deadline nears.

He disclosed that 20 banks have fully met the new minimum capital requirements, while a further 13 banks are at advanced stages of their capital-raising processes and are expected to conclude within the stipulated timeframe.

He explained that institutions still finalising their plans were assessing a variety of strategic options, including consolidation where suitable, as part of efforts to meet compliance within the remaining timeframe.

Governor Cardoso also discussed the status of institutions currently under regulatory intervention, noting that specific legal and structural factors influence the order of recapitalisation measures for these banks.

He said the CBN remains actively engaged with relevant stakeholders to ensure orderly and credible outcomes while maintaining financial stability.

In this context, he reassured stakeholders that depositor funds in those institutions remain secure and that operations continue under strict regulatory oversight.

Based on the current pace of compliance and ongoing capital-raising activity, Gov. Cardoso expressed optimism that the market would see substantial alignment with the new capital requirements by the cut-off date.

Under the CBN framework, minimum capital thresholds include: 500 billion for commercial banks with international authorisation, 200 billion for national authorisation, 50 billion for regional commercial banks, 50 billion for merchant banks, and 20 billion/10 billion for national/regional non-interest banks.

Tinubu: Oyedele In, Uzoka-Anite Out as Minister of State for Finance

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President Bola Ahmed Tinubu has nominated Mr Taiwo Oyedele as the Minister of State for Finance, replacing Dr. Doris Uzoka-Anite.

Uzoka-Anite will now move to the Ministry of Budget and National Planning, as the Minister of State, her third portfolio in the administration.

President Tinubu has today conveyed the nomination of Oyedele to the Senate for confirmation in a letter to the Senate President, Godswill Akpabio.

Until President Tinubu nominated him as a minister, Oyedele from Ikaram, Akoko, Ondo State, was the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which overhauled Nigeria’s tax system.

Oyedele, 50, is an economist, accountant and public policy expert.

He attended Yaba College of Technology, where he obtained a Higher National Diploma (HND) in accountancy and finance. He attended Oxford Brookes University and earned a BSc in applied accounting.

He also completed executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.

Oyedele spent 22 years of his working career at PwC, joining in 2001 and rising to become the Fiscal Policy Partner and Africa Tax Leader.

Oyedele is also a professor at Babcock University in Ogun State and a visiting scholar at the Lagos Business School.

FG, ENI, NAEL Resolve OPL 245, Unlocks Major Deepwater Investment

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Chief Executive Officer Eni, Claudio Descalzi and President Bola Tinubu during a meeting with the President on final resolution of OPL 245.

President Bola Tinubu has announced successful conclusion of a historic settlement agreement between the Federal Government of Nigeria, ENI, and Nigerian Agip Exploration Limited (NAEL) at a meeting in his office attended by the Chief Executive Officer of Eni, Claudio Descalzi, Chief Operating Officer of Eni Guido Brusco, Head of Sub-Saharan Region, Mario Bello, Managing Director of Nigerian Agip Exploration, Fabrizio Bolondi and Special Adviser to the President on Energy, Olu Verheijen.

The agreement brought to a close the long-standing dispute over Oil Prospecting Licence (OPL) 245, paving the way for the development of one of Nigeria’s most significant deepwater resources.

The agreement, signed in Abuja, marks the resolution of a dispute spanning more than 15 years and restores clarity and stability to an asset widely recognised as one of Nigeria’s most commercially promising deepwater blocks.

With the dispute now settled, the pathway is clear for Final Investment Decision on the Zabazaba–Etan development, a project capable of adding approximately 150,000 barrels per day to Nigeria’s production capacity and strengthening the country’s long-term energy outlook.

President Bola Ahmed Tinubu described the agreement as a strategic milestone in Nigeria’s economic reform agenda, reaffirming the administration’s commitment to resolving legacy disputes, restoring investor confidence, and ensuring that Nigeria’s natural resources deliver sustainable value to the Nigerian people.

“This resolution sends a clear signal to global investors that Nigeria is prepared to address legacy issues transparently, uphold the rule of law, and create a stable environment for long-term capital,” the President said.

“The settlement also represents a significant improvement on the 2011 Resolution Agreement, reflecting the policy framework established under the Petroleum Industry Act (PIA) and the administration’s broader fiscal and governance reforms in the energy sector”, said Olu Arowolo-Verheijen, Presidential adviser on energy.

“The revised terms strike a balanced outcome providing investors with the clarity and predictability required to proceed with major deepwater investments, while ensuring stronger value accretion and safeguards for the Federation”, Arowolo-Verheijen added.

The agreement is part of a wider programme of reforms undertaken since 2023 to restore Nigeria’s competitiveness in global energy markets. These reforms, anchored in the Petroleum Industry Act and supported by targeted executive actions, have already contributed to renewed investor interest and significant capital inflows into Nigeria’s oil and gas sector.

“By resolving the OPL 245 dispute, the Federal Government has removed one of the most prominent legacy risks in Nigeria’s upstream sector and reinforced its commitment to predictable regulation, transparent governance, and commercially viable investment frameworks”, Arowolo-Verjeihen further said.

President Tinubu commended all institutions and stakeholders who contributed to achieving the settlement, including the Office of the Attorney General of the Federation, the Ministry of Petroleum Resources, the Special Adviser to the President on Energy, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), NNPC Limited, and the leadership of ENI.

The successful resolution underscores the Tinubu Administration’s determination to unlock Nigeria’s strategic energy assets, attract responsible investment, and ensure that the nation’s resources translate into growth, jobs, and long-term prosperity for Nigerians.

 

FG: Tax Reforms Will Improve Lives, Not Impoverish Nigerians

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Vice President Kashim Shettima said on Wednesday in Abuja, that the implementation of new tax reforms will eliminate the burden of multiple levies and charges on small businesses and low-income earners in Nigeria, thereby helping to reduce poverty.

Shettima noted that the planning and implementation of the tax reforms were carefully designed to improve livelihoods, contrary to the claims of political detractors.

The Vice President spoke on behalf of President Bola Tinubu at the interfaith breaking of fast for Ramadan and Lent held at the State House. Attendees included members of the Federal Executive Council, the Central Bank governor, special advisers, senior special assistants and heads of agencies and parastatals.

Shettima urged them all to remain champions of the government’s reforms.

He said the government is genuinely concerned about Nigerians’ plight and is releasing policy instruments to lift many out of poverty without adding to their burdens.

“The same people who are shouting hoarse that the tax reform is meant to pulverise further and pauperise the poor are far from the truth, but we have to go out and tell the truth to the people.

“We have to educate them. We have to mount the pulpits and take our government to the Nigerian people and tell them the truth,” he said.

Shettima highlighted some of the gains of the economic reforms, including an increase in the nation’s foreign exchange reserves, streamlining of the exchange rates and the removal of a subsidy that had favoured only a few for many years.

He said President Tinubu should be commended for the courage to address the issues that past administrations avoided.

The Vice President explained that the removal of the fuel subsidy was not mentioned in the President’s 2023 inaugural speech. Still, the President had to announce it, knowing that the system was draining the economy of resources for development.

“Three years down the road, the economy has bounced back,’’ he added.

“On behalf of the President, I want to thank you all for comradeship, support and partnership,’’ he stated.

Shettima advised government officials to be more active in sharing facts about the administration’s achievements and to be ready to counter falsehoods propagated by the opposition parties.

 

Nigeria to Unveil National Single Window Platform March 27

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Nigeria will launch the highly anticipated National Single Window (NSW) platform on March 27, a move described by the Chief of Staff to the President, Femi Gbajabiamila, as a “monumental” step in transforming the country’s trade ecosystem.

Gbajabiamila disclosed this during a stakeholders’ meeting at the State House, Abuja, attended by ministers, agency heads, and key officials.

He said the initiative, first launched by President Bola Ahmed Tinubu nearly two years ago, is a far-reaching fiscal reform that will streamline trade procedures, improve efficiency, and enhance Nigeria’s competitiveness.

“We are about to launch yet another reform, fiscal reform by this administration, which in its nature will be very transformational.

“As the name suggests, it is a single national window as opposed to multiple single windows.

“This meeting is to review the progress we have made and get your commitment that we will manage this transition smoothly.

The Chief of Staff commended the dedication and professionalism of the Central Bank, the Nigeria Revenue Service, the Nigeria Customs Service and other agencies involved.

Earlier in his presentation, the NSW Co-ordinator, Mr Tola Fakolade, urged agencies to intensify support in the final 23 days before the “go-live” as scheduled.

According to him, the first phase will enable online processing of import permits, electronic submission of cargo manifests, and the introduction of a centralised risk management system.

He added that nationwide user training is ongoing, and pilot testing will soon be conducted to ensure a smooth rollout.

Fakolade added that cargo manifests would be submitted electronically and transmitted automatically to relevant agencies without human intervention.

“The support that we need from each of the agencies is even more critical now. Documents will be submitted once and shared with all relevant agencies without duplication,” he said.

Co-ordinating Minister of the Economy and Minister of Finance, Wale Edun, reaffirmed the ministry’s commitment to the project.

“This is a growth-enhancing and growth-enabling project. What is required of the Ministry of Finance, we will definitely do,” he said.

Jumoke Oduwole, Minister of Industry, Trade and Investment, reiterated the ministry’s full support, calling the project a critical pillar of the Renewed Hope Agenda.

She stressed that the initiative is long overdue and promised active collaboration with relevant agencies over the next three weeks to sensitise traders, importers, and exporters.

The Governor of the Central Bank, Olayemi Cardoso, also pledged the Bank’s full support, highlighting the importance of closing Nigeria’s trade facilitation gap with other countries.

Similarly, Chairman of the Nigeria Revenue Service, Zacch Adedeji, called for stronger coordination and political will, proposing that the Minister of Trade lead the 23-day implementation phase to ensure seamless delivery.

Comptroller-General of Customs, Bashir Adeniyi, described the NSW project as a historic milestone, emphasising direct engagement with stakeholders and full collaboration to guarantee success.

At the end of the meeting, the Minister of Industry, Trade and Investment was mandated to lead the implementation phase to ensure a smooth and successful launch on March 27.

Agencies represented, apart from the Nigeria Customs Service (NCS), were the Standards Organisation of Nigeria (SON), the Nigerian Maritime Administration and Safety Agency (NIMASA), the Nigerian Ports Authority (NPA), and the National Agency for Food and Drug Administration and Control (NAFDAC).

Others were the Federal Airports Authority of Nigeria (FAAN), the Nigeria Agricultural Quarantine Service (NQS), and the National Environmental Standards and Regulations Enforcement Agency.  (NESREA).

 

Stanbic IBTC Regional Economic Outlook Series Positions Investors for Confident 2026 Decision Making

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Stanbic IBTC has concluded its 2026 Regional Economic Outlook Series, a regional investor summit designed to provide high net worth individuals, investors, business leaders, and senior executives with clarity in a rapidly evolving economic environment.

Hosted in Lagos, Abuja, and Port Harcourt, the series served as a strategic platform for translating Nigeria’s reform momentum into practical investment and business decisions.

The series featured a keynote address by Professor Adedipe, whose insights set a strong analytical foundation for the conversations that followed.

His presentation unpacked structural reforms, fiscal recalibration, and the direction of monetary policy, offering attendees a comprehensive perspective on Nigeria’s growth trajectory and the discipline required to sustain macro-economic stability.

Across all three cities, Stanbic IBTC’s subject matter experts and industry professionals moved the discussion from macroeconomic signals to market strategy.

Sessions were structured to bridge economic context with sector specific opportunities, portfolio construction frameworks, and risk management considerations. The focus extended beyond understanding the environment to making informed, disciplined decisions within it.

A recurring theme throughout the summit was the evolving monetary policy cycle. Discussions examined the Central Bank of Nigeria’s tight stance in addressing inflationary pressures and stabilising the currency.

Participants also considered the potential implications of a gradual policy easing cycle, particularly for fixed income instruments, equity positioning, and broader asset allocation strategies. Emphasis was placed on timing, selectivity, and portfolio resilience.

Beyond markets, the conversations addressed the practical realities of wealth and business strategy. High net worth individuals gained clarity on diversification, currency exposure, and inflation management, while business leaders explored how improving macro-economic stability can support capital allocation decisions and long-term expansion plans.

Busola Jejelowo, Chief Executive of Stanbic IBTC Asset Management, reflected on the quality of engagement across the regions. She noted that the depth of questions and analytical rigour demonstrated a maturing investment culture and a growing appetite for data driven strategies.

According to her, the series was not only about presenting forecasts, but about equipping clients with structured frameworks for navigating uncertainty.

Olu Delano, Executive Director, Personal and Private Banking at Stanbic IBTC, emphasised the importance of linking macro-economic trends to personal financial goals:

“Whether planning for retirement, funding education abroad, or expanding a business, improved stability creates opportunities. But those opportunities require careful structuring around foreign exchange dynamics, inflation trends, and interest rate movements.”

As Nigeria approaches 2026, the outlook is optimistic, supported by improving macro-economic fundamentals and a clearer policy direction. While global headwinds and domestic structural challenges remain, the prevailing sentiment across the summit was one of confidence anchored in disciplined reform and data driven decision making.

The successful delivery of the Regional Economic Outlook Series reinforces Stanbic IBTC’s role as a trusted financial partner and thought leader.

By convening critical conversations and equipping clients with analytical depth and practical strategy, the organisation continues to empower investors and business leaders to navigate complexity with confidence and purpose.

 

emPLE Partners Lagos State, Bastion Health for International Women’s Day “emPOWERHer” Health Drive

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emPLE, one of Nigeria’s rapidly growing insurance companies, has announced a strategic partnership with the Lagos State Ministry of Health (LSMOH) and Bastion Health to celebrate International Women’s Day 2026 through its emPOWERHer campaign. This community-focused health initiative aims at promoting preventive healthcare for women and their children.

Taking place on Saturday, March 7, 2026, at emPLE’s headquarters on Akin Adesola Street, Victoria Island, Lagos, the initiative brings together public and private-sector partners to offer free screenings, vaccinations, and wellness activities in a unified call to action for proactive women’s health.

Under the collaboration, LSMOH will lead specialised medical interventions, including cervical and breast cancer screenings as well as free Human Papillomavirus (HPV) vaccinations for girls aged 9–14. Bastion Health will coordinate routine health checks, such as hypertension screening, blood sugar tests, and Body Mass Index (BMI) assessments.

The program will start with an awareness walk from emPLE’s head office at Akin Adesola to Ozumba Mbadiwe, then to Muri Okunola Junction, and back, symbolizing collective advocacy for women’s wellbeing. This will be followed by a cardio and fitness session, along with a full range of health screenings.

Commenting on the initiative, Olalekan Oyinlade, Managing Director/CEO of emPLE General Insurance Limited, said: “International Women’s Day is a powerful reminder that protecting women’s wellbeing requires practical action. Through emPOWERHer and our partners in Lagos State and Bastion Health, we are helping remove barriers to early detection and prevention by bringing essential services closer to the community.”

Also commenting, Jolaolu Fakoya, Acting Managing Director/CEO of emPLE Life Assurance Limited, stated that “when women have access to timely screening, routine checks, and credible health information, outcomes improve for families and for the next generations. emPOWERHer reflects our commitment to empowering Nigerians, especially our women, to take proactive steps toward protecting their health.”

The event is also supported by Sosa Fruit Drinks, which will provide its refreshing fruit drinks to participants.

Activities for the day include an awareness walk, cardio and fitness session, breast cancer screening, cervical cancer screening, hypertension checks, blood sugar level tests, BMI assessments, and free HPV vaccination for girls aged 9–14.

The event will begin at 8:00 a.m. prompt at emPLE HQ, Plot 1297 Akin Adesola Street, Victoria Island, Lagos. It will be open to women and families seeking accessible, high-quality preventive healthcare services.

 

About emPLE

emPLE is a Nigerian insurance brand operating through emPLE General Insurance Limited and emPLE Life Assurance Limited, focused on providing accessible protection solutions rooted in governance discipline, operational excellence, and sustainability principles.

 

Chowdeck Partners MyCoverGenius to Set New Standard for Rider Protection in Nigeria

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Chowdeck, Africa’s leading on-demand delivery platform, has partnered with MyCoverGenius, Nigeria’s Number 1 Insurance services provider, to provide personal accident insurance for more than 20,000 riders on its platform.

Under the agreement, which commenced in November 2024, every active Chowdeck rider will be automatically enrolled in a personal accident insurance plan powered by MyCoverGenius. The cover includes accidental medical expenses, temporary disability, and other key protections. This landmark collaboration sets a new benchmark for rider welfare in Nigeria, giving thousands of riders who serve over two million Chowdeck customers the security of a reliable safety net.

Since launching in October 2021, Chowdeck has grown to become one of Nigeria’s most trusted delivery platforms, known not just for speed and reliability, but also for its commitment to empowering riders. The partnership with MyCoverGenius underscores Chowdeck’s continued investment in rider welfare and its mission to build a delivery ecosystem where safety, dignity and sustainability are prioritized.

The rise of on-demand services has opened up new opportunities for work across Africa.

In Nigeria, a recent survey revealed that 64% of location-based gig workers said their income from gig platforms made a meaningful difference to their household finances. At the same time, this growth has underscored the importance of providing stronger protections for the riders that support the success of the industry.

By partnering with MyCoverGenius, Chowdeck is setting a new standard for on-demand services in Africa – one that places rider wellbeing at the centre, while enabling them to continue delivering the speed, reliability and excellent service that customers value.

Umar Nasir, Head of Operations at Chowdeck, said “riders are a critical part of everything we do at Chowdeck. This partnership with MyCoverGenius is about more than just insurance – it’s about setting a new benchmark for how delivery platforms in Africa should protect and support their people. We want every Chowdeck rider to feel secure knowing that their wellbeing is just as important as the meals and packages they deliver every day.”

Adebowale Banjo, CEO at MyCoverGenius added: “Our mission has always been to make insurance accessible, relevant, and impactful for everyday Africans. By partnering with Chowdeck, we’re not only extending protection to thousands of hardworking riders, but also demonstrating how digital platforms can integrate insurance in ways that directly improve lives.”

 

About Chowdeck

Chowdeck is a technology company transforming how food and hospitality businesses operate across Africa. 

Founded in October 2021, the company provides a platform that brings together smart logistics, seamless payments, inventory management, and real-time performance tools. Combining reliable infrastructure with strong merchant partnerships, Chowdeck enables thousands of businesses to run more efficiently while delivering excellent experiences to millions of customers every day.

 

About MyCoverGenius

MyCoverGenius is a leading insurance technology company transforming how individuals and businesses access and experience insurance. 

The company has built a fast-growing digital platform that simplifies access to health, auto, gadget, travel, and third-party coverage all in one seamless solution. 

Backed by innovative technology, and a deep understanding of customer needs, MyCoverGenius continues to make insurance more accessible, affordable, and flexible for Nigerians everywhere.

ABoICT Lecture/Awards 2026 to Focus on Impact of AI, IoT on Business Operational Efficiency

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The Board and Management of Communication Week Media Limited, publishers of Nigeria CommunicationsWeek, at the weekend announced that this year’s Africa’s Beacon of ICT Merit and Leadership lecture will focus on Impact of AI and IoT on business operational efficiency.
Africa’s Beacon of ICT Merit and Leadership lecture, widely regarded as the most prestigious annual event available in the ICT industry in Nigeria is in its 17th year.
The lecture holds on May 30, 2026 at Oriental Hotel, Lekki, Lagos, according Ken Nwogbo, Editor-in-Chief of Nigeria CommunicationsWeek, the organisers of the event.
He said that this year’s event “is digital transformation edition” to recognise and celebrate organisations and individuals in the ICT industry that have impacted in digital transformation of the economy.
“Most of these organisations and individuals have consistently being voted by our readers as leaders in their areas of operations and we have decided to reward them in this special edition, tag: ‘Digital Transformation Edition 2026.’
He added that, Digital transformation, driven by AI and IoT, will fundamentally boosts business operational efficiency by automating complex tasks, enabling real-time data analysis, and reducing costs.
“IoT technology optimizes resources, predict maintenance needs, and enhance decision- making, allowing companies to streamline workflows and improve productivity across sectors like manufacturing and logistics.
“It is an emerging technology that has impacted lifestyles and has changed the way we think and act, and the way we interact with each other.
It has also changed the way we work as it enables very large-scale monitoring, control, and automation, and has impacted the digital transformation of organisations in different industries”, he said.
According to him, “the transformative power of Artificial Intelligence exists as a bringing force in organisational communication. AI tools perform repetitive jobs, deliver simultaneous translations, and register team communication patterns, which lead to better understanding of group interactions. AI chatbots help manage customer support inquiries thus enabling staff members to dedicate their efforts
toward complex work activities.”
The Africa’s Beacon of ICT Merit and Leadership Distinguished (ABoICT Lecture 2026) is designed to explore efforts to put Nigeria on the global Information and Communications Technologies map.
The lecture series however is reserved for distinguished achievers in the ICT sector.
Past lecturers included Dr. Ernest Ndukwe, then executive vice chairman, Nigeria Communications Commission (NCC); Uche Orji, Managing Director/Chief Executive Officer, Nigeria Sovereign Investment Authority (NSIA); Biodu Omoniyi, Managing Director/CEO, VDT Communications; Ayotunde Coker, former Managing Director, Rack Centre Limited; Prof. Adewale Obadare, Chief Visionary Officer, Digital Encode; Dr. Oluseyi Akindeinde, Founder, Hyperspace & amp;amp; NeuraL AI and John Obaro, CEO and Founder of SystemSpecs; Prof. Isa Pantanmi, former minister of Communications and Digital Economy, among others.