Sovereign Trust Insurance Reports 109% Insurance Revenue Growth in 2024

30/07/2025

Sovereign Trust Insurance Plc recently released its 2024 audited financial statements in line with the new reporting format of IFRS-17 to the general public having obtained the requisite approval from the industry’s Regulatory Authority, National Insurance Commission, NAICOM.

Despite the challenging operating environment that characterised operations of most businesses in the country in 2024, the underwriting firm maintained its growth trajectory remarkably in the period under review when compared with the performance of year 2023.

The Managing Director and Chief Executive Officer of the underwriting firm, Mr. Olaotan Soyinka said the performance of the Company in 2024 is quite encouraging considering the various business challenges that the insurance Industry had to deal with in the past year.

He said there is definitely room for improvement in the days ahead and that, the Underwriting Firm is poised to take advantage of the opportunities that are inherent in the insurance marketplace.

Sovereign Trust Insurance Plc, recorded a total of N40.4b insurance revenue in 2024 as against the sum of N19.3b that was written in 2023, representing a 109% growth rate for the year. Total Assets of the Underwriting Firm also grew by 28% to N29.1.b in 2024 as against N22.7b in 2023. Equally of note is the increase in the company’s Total Equity which also grew by 15% from N13.6b in 2023 to N15.6b in 2024. The Company equally recorded a Profit Before Tax of N2.b as against the N1.4b that was recorded in 2023, with a growth rate of 81%.

The Profit After Tax equally grew by 79% from N1.2b in 2023 to N2.3b in 2024. The Basic Earnings Per Share (kobo) had a growth rate of 79% from 9.13k in 2023 to 16.31k in the year under consideration.

Mr. Soyinka while briefing newsmen in Lagos said the Management of the company is committed to meeting and surpassing the expectations and aspirations of its shareholders and stakeholders alike. “These performance levels are a confirmation of the management’s determination to effectively and strategically position the company as one of the leading and vibrant insurance companies in the country while also making conscious efforts at propelling the company to a profitable height for shareholders’ delight” in the years ahead.

The MD/CEO also hinted that the underwriting firm will be paying dividends to its shareholders at the 30^th Annual General Meeting of the company.

NAICOM Issues Guidelines for Insurtech Operations Effective Aug 1

Business Journal

30/07/2025

The National Insurance Commission (NAICOM) has officially issued operational guidelines for Insurtech businesses in Nigeria, following extensive stakeholder consultation and engagement.

The guidelines, effective from August 1, 2025 are designed to provide a clear and unified regulatory framework for the licensing, operations, and supervision Insurtech firms in Nigeria.

The guidelines aim to:

Foster innovation that can lead to the development of new and innovative insurance products and services
Ensure consumer protection and improve consumer experience, prioritizing consumer interests and providing better services
Provide clarity on regulatory requirements, reducing uncertainty and ambiguity
Help build trust and confidence in the Insurtech sector, driving growth and adoption
Advance digital transformation within the Nigerian insurance sector

Key Objectives of the Guidelines:

The key objectives of the guidelines include:

Promoting the growth and development of Insurtech in Nigeria
Establishing regulatory standards for Insurtech setup and operations
Encouraging responsible innovation while safeguarding consumer interests
Defining general product features specific to Insurtech
Providing a licensing structure for both Partnering and Standalone Insurtech firms
Facilitating the transition of eligible operators into fully licensed standalone Insurtech entities
Supporting Nigeria’s broader digital economy and fintech ecosystem

Application Categories:

Partnering Insurtech: Permitted to transact specific classes of insurance in collaboration with licensed insurers
Standalone Insurtech: Permitted to transact the categories of insurance as may be specified in its license, excluding special risk products such as Oil and Gas Insurance, Marine and Aviation Insurance, Retirement Life Annuity, and insurances of government assets and liabilities for Ministries, Departments, and Agencies.

Application and Eligibility:

Prospective operators must submit applications in accordance with the procedures outlined in Schedule I of the Guidelines. NAICOM reserves the right to grant licenses with conditions deemed necessary under existing laws and this new regulatory framework.

Prudential and Market Conduct Requirements:

Insurtech firms must comply with provisions related to risk management, investment practices, actuarial standards, outsourcing, and other key operational parameters as detailed in the Commission’s Prudential Guidelines.

Dispute Resolution Mechanism:

Disputes between Insurtechs and partner insurers must first follow arbitration protocols outlined in their agreements before approaching NAICOM. Consumers may refer unresolved issues from insurance transactions directly to the Commission for review and resolution.

Compliance Deadline:

All existing insurance institutions and Insurtech firms operating under any arrangement classified as Insurtech must fully comply with these Guidelines within 30 days of the effective date.

Leadway Assurance: Official Insurance Partner of Lagos International Trade Fair 2025

Business Journal

30/07/2025

L–R: Juliet Okon, Head, Alternative Channel and High Net-worth Clients (HNC), Leadway Assurance; Gabriel Idahosa, President, Lagos Chamber of Commerce and Industry (LCCI); Kike Fischer, Director, Sales, Retail and Partnership, Leadway Assurance; and Sola Oluwadare, Head, Trade Promotion, LCCI, at the official signing ceremony announcing Leadway Assurance as Insurance Partner for the upcoming Lagos International Trade Fair at Commerce House, Victoria Island, Lagos.

Leadway Assurance, Nigeria’s leading insurance provider, has been announced as the Official Insurance Partner of the Lagos International Trade Fair 2025, West Africa’s largest international trade fair, scheduled to take place from Friday, 7th to Sunday, November 16, 2025 at the iconic Tafawa Balewa Square in Lagos.

Organised by the Lagos Chamber of Commerce and Industry (LCCI), the 10-day Lagos International Trade Fair, hosted in Lagos, Nigeria’s economic hub, is one of the major attractions of West Africa’s regional commercial activities each year.

Since its inception, it has grown to become one of the largest trade shows in sub-Saharan Africa, attracting both national and international entrepreneurs from over 1600 companies worldwide.

Commenting on the milestone agreement, Kike Fischer, Director of Sales, Retail and Partnerships at Leadway Assurance, said:

“Partnering as the Official Insurer of the Lagos International Trade Fair speaks to both our leadership in the insurance industry and our deep belief in the power of enterprise. At Leadway, we understand how critical insurance is in unlocking growth and securing the future for entrepreneurs and business owners alike.

This partnership is not just about visibility—it’s about value. It reflects our ongoing commitment to creating a supportive environment where MSMEs can grow with confidence. We’re excited to be part of this year’s Trade Fair and look forward to meaningful conversations with stakeholders across sectors as we work together to strengthen Nigeria’s business landscape.”

Beyond this strategic partnership, Leadway Assurance continues to lead in reshaping public perception of insurance in Nigeria.

The company’s widely recognised #NoLooseGuard campaign, launched across major cities, has helped redefine insurance as a proactive tool for wealth building, protection, and recovery from financial losses.

Leadway also recently announced impressive financial milestones, including ₦173.2 billion in insurance revenue and ₦117 billion in claims payouts for 2024, figures that underscore its robust capacity, customer focus, and unwavering commitment to service excellence. Together, these efforts have helped solidify Leadway’s dominance in the industry, with a six-month consecutive lead in Media Share of Voice among its competitors in H1 2025.

About Leadway Assurance

Leadway Assurance is one of Nigeria’s foremost insurance service providers, renowned for its efficiency and customer reliability.

With over 50 years of experience, Leadway has consistently honoured its underwriting commitments and earned a reputation for excellence in claims handling.

The company remains at the forefront of the insurance industry, offering innovative solutions that meet the evolving needs of its clients.

NNPCL: Port Harcourt Refinery Not for Sale

Business Journal

30/07/2025

Group CEO, NNPC Limited, Engr. Bashir Bayo Ojulari addressing the company’s staff during a Townhall held at the NNPC Towers in Abuja.

The Nigerian National Petroleum Company Limited (NNPC) Limited has officially ruled out sale of the Port Harcourt Refining Company, reaffirming its commitment to completing high-graded rehabilitation and retention of the plant.

The Group Chief Executive Officer (GCEO) of NNPC Limited, Bashir Bayo Ojulari, announced this at a company-wide town hall meeting on Tuesday at the NNPC Towers, Abuja. He stated that the position isn’t a shift. Rather, it is informed by ongoing detailed technical and financial reviews of the Port Harcourt, Kaduna and Warri refineries.

The ongoing review indicates that the earlier decision to operate the Port Harcourt refinery prior to full completion of its rehabilitation was ill-informed and sub-commercial, Ojulari said.

Although progress is being made on all three refineries, the emerging outlook calls for more advanced technical partnerships to complete and high-grade the rehabilitation of the Port Harcourt refinery. Thus, selling is highly unlikely as it would lead to further value erosion.

The announcement comes in the wake of widespread speculation following his remarks at the 2025 OPEC Seminar in Vienna, Austria earlier this month, where he said during an interview with Bloomberg that “all options are on the table.” The comment sparked speculation and headlines about the future of the nation’s refining assets.

The declaration was received with applause from hundreds of staff attendees, who described the position as a renewed sense of business-focused direction across the organisation.

The town hall served as more than a performance update—it was an opportunity for candid and constructive engagement.

The Executive Vice Presidents presented progress reports from the Upstream, Downstream, Finance, Business Services, Gas, Power, and New Energy businesses, highlighting operational achievements, ongoing reforms, and areas requiring attention.

In a tone marked by honesty and leadership, challenges and earlier missteps were acknowledged, and a clear roadmap was outlined for the journey ahead.

The announcement reinforces NNPC’s mandate as a strategic custodian of national energy infrastructure and reflects a firm resolve to deliver on the complete rehabilitation and long-term viability of Nigeria’s refineries. It also signals continuity in the Federal Government’s broader energy security objectives and a commitment to retaining critical assets under national control.

Feedback during and after the session revealed a workforce energised and aligned with the leadership’s vision. Described as “reassuring,” “transformational,” and “sustainable,” the atmosphere reflected an optimist outlook among employees and hopefulness about the company’s evolving strategic direction.

NNPC will continue to reposition itself as a commercially driven, professionally managed national energy company, grounded in transparency, focused on performance, and unwavering in its responsibility to its number one stakeholder group, Nigerians, Ojulari concluded.

Ecobank Earns Stable Outlook Ratings from Moody’s

Business Journal

29/07/2025

Moody’s has affirmed Ecobank Transnational Incorporated’s (ETI) B3/Not Prime long- and short-term issuer ratings; B3 senior unsecured debt rating; b2 notional Baseline Credit Assessment (BCA); and b1 Adjusted BCA.

At the same time, rating analysts at Moody’s said they have changed the outlook on the group’s long-term issuer and senior unsecured debt ratings to stable from negative.

ETI’s subsidiaries operate across 38 countries—including 35 African countries- and total assets of $28.9 billion as of March 2025, details from the rating note highlighted. Moody’s said the decision to change the outlook to stable on the long-term issuer and senior unsecured ratings reflects ETI’s resilient financial performance.

The rating upgrade also takes into consideration higher dividends being upstreamed to ETI, resulting in lower double leverage and reduced refinancing risk.

The rating adjustment also reflects an expectation that the recapitalization process of Ecobank Nigeria Limited will be completed by the end of 2025, with limited impact on the group’s financial fundamentals.

“The stable outlook also captures our expectation that a series of capital-boosting initiatives and actions to cure Ecobank Nigeria’s total capital position will be completed before the end of 2025”, according to the ratings agency.

In May 2025, ETI received shareholder approval to raise $250 million in Additional Tier 1 (AT1) capital and announced the launch of the transaction effective 9 July 2025, of which a portion is expected to be downstreamed to Ecobank Nigeria as AT1 capital during Q3-2025.

Ecobank Nigeria’s plan to raise $200 million in AT1 capital was noted in the rating note. The ratings analysts said they consider

“We also note that Ecobank Nigeria’s recent successful offer to tender $150 million of its February 2026 $300 million notes and consent to remove the capital adequacy ratio covenant from this bond’s terms alleviates risks of an event of default in Nigeria that would trigger cross default at ETI level”.

“Over the past year, ETI has shown resilience in its financial performance, which supports our change in outlook to stable. Liquidity risks are being moderated by the group’s gradually improving profitability during 2024 and Q1-2025.

“This has translated into a 22% increase in dividends upstreamed to ETI during 2024, these being received from 22 dividend-paying subsidiaries compared to just 14 in 2021”.

In turn, albeit high, ETI’s double leverage ratio – which measures the liquidity risk taken on by the holding company, as a result of it borrowing in order to invest in the equity of its subsidiaries – has eased to 168% as of December 2024 from 173% in 2023.

Additionally, the stable outlook reflects reduced liquidity risk at the holding company level with the refinancing of short-term liabilities in 2024 with longer-term funding.

Moody’s said this is underpinned by demonstrated market access, notably through senior unsecured notes issuance of $400 million in October 2024 and a tap increase of $125 million in May 2025, maturing in October 2029.

ETI’s B3 long-term issuer ratings affirmation reflects the affirmation of the group’s b2 notional BCA; the affirmation of the group’s b1 adjusted BCA as captured by a one-notch uplift for affiliate support reflecting Moody’s assessment of a moderate probability that the firm’s major institutional shareholders would extend support to the group.

Moody’s said asset quality for the group has improved over recent years.

Finance Minister, Wale Edun, Charges New NDIC Management on Performance

Business Journal

29/07/2025

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun (3^rd left) and the Minister of State for Finance, Dr. Doris Uzoka-Anite pose for a group photo with the newly appointed MD/CEO Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Oludare Sunday (1^st left) and Executive Director (Operations) NDIC, Dr. Kabir Sabo Katata (1^st right) during their inauguration as the new NDIC Management by the Honourable Minister in Abuja.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has inaugurated the new Managing Director/Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Oludare Sunday and Executive Director (Operations), Dr. Kabir Sabo Katata at the Ministry of Finance, Abuja.

In his remark during the occasion, the Honourable Minister submitted that the NDIC, as a component of the financial safety-net has a crucial role to play in the nation’s march to economic stability and prosperity.

He therefore charged the Management team to bring their diverse wealth of experience to bear on their new assignment while assuring them of the ministry’s full support in the task ahead.

Responding, Mr. Sunday who spoke on behalf of the Management team, expressed appreciation to His Excellency, President Bola Ahmed Tinubu for their appointment. He assured the Hon.Minister of the readiness of the Management under his leadership to live up to expectations of the President in particular and the nation in general in the discharge of their duties.

The Management was later received to the Corporation’s Head Office with a warm welcome by the workforce. Addressing the workers on behalf the Management team, Sunday promised to work in harmony with the staff to move the Corporation to its next level performance.

He stressed that the Management’s focus would be based on the public policy objectives, functions and mandate devolved on the Corporation by the enabling law that established it.

Thompson Oludare Sunday is a seasoned financial expert with over 30 years of regulatory and supervisory experience. Having cut his teeth with the Central Bank of Nigeria (CBN) in 1989, he went ahead to acquire high-end knowledge in Central Banking, spending 24 unbroken years in banking supervision.

While his vast experience is in the regulation and supervision of licensed institutions, his deep expertise spans corporate governance, risk management and compliance as veritable tool for ensuring the safety and soundness of institutions. He is a highly analytical and cross functional team worker with strong interest in building individual and institutional capacity for transformation and excellence.

Thompson’s skills and experience were horned by several key responsibilities and special assignments he handled for the apex Bank before his retirement as a Director in 2021.

The ED (Operations), Kabir Sabo Katata is a quantitative energy strategist and computational finance expert with strong power trading and risk management experience.

He has over twenty-eight years’ experience in the design and management of technically innovative systems in multiple industries including telecommunications, IT, energy (petroleum & power), finance and government.

He is a specialist in sophisticated financial optimisation, the application of modern statistical techniques and mathematics to energy, deposit insurance and banking sectors.

Dr. Katata joined the service of the Nigeria Deposit Insurance Corporation in 2012 as an Assistant Director in the Research, Policy and International Relations Department and rose to the pinnacle of his career as Director in January 2022, before his new appointment as Executive Director (Operations).

NIMC to Nigerians: Avoid Sharing Personal Data

Business Journal

29/07/2025

The National Identity Management Commission (NIMC) has noted with serious concern the recent statement on Nigerians selling their personal information, including that of the National Identification Number (NIN) attributed to the Economic and Financial Crime Commission (EFCC)

The statement by EFCC that ”this fraud scheme is largely driven by an army of young Nigerians offering a paltry payment of between N1500 and N2000 to their victims to make them surrender a copy of their personal information details to them and sell the same information to some Fintech Institutions for about N5000” is not only of serious security concern but of grave consequences on the NIN holders.

The NIMC wishes to state clearly that it will not be held responsible for any personal information shared by an individual directly or by proxy for the purpose of financial gain or inducement.

Nigerians have been informed repeatedly in the past by the NIMC not to disclose their NIN to any unauthorised individual or organisation.

Equally of note is that any NIN presented to access services must be duly verified before granting such services. Nigerians and service providers should note.

Furthermore, the general public is by this notice enjoined to download the NINAuth App on either Apple iOS or the Google Play Store to enjoy seamless benefits, including but not limited to protection and security of the NIN, the power to control personal information on the NIN and so many more!

NIMC to Nigerians: Avoid Sharing Personal Data

Business Journal

29/07/2025

The NIMC wishes to state clearly that it will not be held responsible for any personal information shared by an individual directly or by proxy for the purpose of financial gain or inducement.

Nigerians have been informed repeatedly in the past by the NIMC not to disclose their NIN to any unauthorised individual or organisation.

Equally of note is that any NIN presented to access services must be duly verified before granting such services. Nigerians and service providers should note.

Rex Insurance Unveils Digital Platforms to Drive Motor Insurance Business

Business Journal

29/07/2025

Rex Insurance Limited has unveiled new digital platforms designed to revolutionise the way motor insurance is accessed and purchased. This strategic initiative marks a significant step towards enhancing customer experience and expanding market reach.

The newly launched digital platforms, comprising an E-portal and website allows customers to purchase all Rex Insurance motor insurance policies with ease and transparency. These platforms have been optimised for speed, simplicity and security, enabling real-time policy issuance, digital payments and instant policy document delivery.

The Managing Director & Chief Executive, Rex Insurance Limited. Mrs. Ebelechukwu B. Nwachukwu, while speaking on this development reaffirmed the company’s focus on customer satisfaction and regulatory adherence.

“To further our mission of protecting individuals and their assets, Rex Insurance is simplifying the process for vehicle owners to obtain this mandatory policy, ensuring they meet all legal obligations.”

According to Mrs. Nwachukwu, “the motor insurance products available for purchase digitally include Third Party Motor (private and commercial); Third Party Fire & Theft (private and commercial); Motor Comprehensive (private and commercial); Royal Auto Bronze; Royal Auto Silver; and Motor Trade. And within minutes, payment is completed, and your insurance certificate is sent to you via email.”

“In this era dominated by digital technology, convenience and accessibility are crucial, noted Mrs. Nwachukwu and by establishing digital channels for selling our motor insurance products, we are not only giving customers more options and flexibility but also empowering our sales team to better meet the needs of their clients.”

Some key features of the digital platforms include: Seamless onboarding for individual and corporate customers, 24/7 policy issuance and instant renewal options, Integrated payment gateways for quick and secure transactions.

Speaking on this initiative, Mr. Adeyinka Aderombi, Chief Digital Information Officer, Rex Insurance said: “The future of insurance sales is digital—where customers expect seamless, intuitive, and instant purchasing experiences. Our website is more than a sales channel—it’s a smart, data-powered engine that simplifies complex decisions, helping customers find the right coverage in minutes. it’s the new frontline of customer engagement.”

Adeyinka further added that “by integrating real-time underwriting and instant policy issuance, we’re turning what used to take days into a matter of clicks and every digital transaction on our platform is built with robust safeguards, ensuring customer data is protected at every step. At Rex Insurance, we have combined cutting-edge technology with unwavering commitment to privacy and compliance.

The rise of digital insurance sales is not just a trend—it’s a transformation and our goal is to make buying insurance as effortless as possible – simple, secure, and stress-free.

The launch reinforces our commitment to digital innovation and customer-centricity, in line with our broader vision to modernise insurance delivery through technology.

About Rex Insurance Limited (Rex)

Rex Insurance Limited (Rex) is licensed by the National Insurance Commission (NAICOM) to offer the full range of general and special risks insurance products to the insuring public. With decades of experience in the Nigerian market, Rex Insurance has an enviable reputation for technical competence and financial strength.

With a vision of being the “Preferred Nigerian Insurance Company”, our strategic direction within the next 5 years is to focus on growth and profitability with the aim of growing the company’s gross premium written and be amongst the Top-Top-Tier general insurance companies in the market.

TIELLE: Travel Finance App Changing the Way Young Nigerians Explore the World, Now Open to Investors

Business Journal

29/07/2025

Travel should be exciting, not exhausting. But for many young Nigerians, adventure often ends at the budgeting stage.

That’s where TIELLE comes in — a revolutionary travel financing and planning app designed to erase the stress, kill the excuses and make world exploration a real, affordable experience.

Backed by Social Media Centre Marketing (SMC) and led by a team of creatives, technologists and travel lovers, TIELLE is unlocking the world for a new generation of dreamers — one smart loan and savings plan at a time.

“When you think travel, think freedom — not headache,” says Solomon Sanusi, Media Director at SMC. “TIELLE is not just an app; it’s a passport to possibilities. And we’re already building it.”

What Makes TIELLE Different:

Finance Meets Adventure

TIELLE removes the biggest barrier to travel — money. Through flexible loan plans and automated savings tools, users can fund their travel goals responsibly and stress-free.

Planning Made Seamless

Personalised itineraries, real-time updates, and exclusive travel experiences — all built into one smooth, user-friendly app interface.

Built for Nigerians, Built to Scale

From sleek UX to efficient loan calculators, local KYC compliance to viral referral mechanics, TIELLE was made with the Nigerian traveler in mind — and is built to expand across Africa.

Revenue-Ready and Scalable

TIELLE earns through interest on loans and structured savings, and opens multiple monetization routes through future partnerships with airlines, hotels, and tourism brands.

Investor Opportunity

Funding Round: Seed

Capital Goal: $300,000 – $500,000

Use of Funds:

Finalising app development (iOS & Android)
Licensing, KYC and compliance expansion
Influencer-driven launch and growth marketing
Strategic B2B travel partnerships
Scaling backend for additional lifestyle finance products

“We’ve got the blueprint. We’ve got the prototype. We’ve started building. This isn’t wishful thinking — it’s working execution,” adds Sanusi. “TIELLE is not a dream — we don start work. No be cho cho cho.”

The Vision Is Bigger Than Travel

Today it’s about travel. Tomorrow? Lifestyle, experience and access.

TIELLE is on a roadmap to becoming the go-to platform for experience-based financing for Africa’s youth — from vacations to events, wellness, and education.

Solomon Sanusi

Media Director

Social Media Centre Marketing (SMC)

NGX Chief, Umaru Kwairanga, to Chair Business Journal Fintech Roundtable 2025

Business Journal

29/07/2025

Dr. Umaru Kwairanga, Group Chairman, Nigerian Exchange Group (NGX) will Chair the 2^nd Business Journal Fintech & Financial Inclusion Roundtable 2025 scheduled for Friday, August 29, 2025 at Oriental Hotel, Lekki, Lagos. Time is 10-am prompt.

The theme of the Roundtable is: Fintech & Financial Inclusion: The Opportunities & Challenges for Nigeria.

In a statement, Prince Cookey, Publisher/Editor-in-Chief of Business Journal Media Group said the choice of Umaru Kwairanga to chair the event is a reflection of his immense and chequered journey in the Nigerian economic system over the years.

“Dr. Umaru Kwairanga is a noted player in the Nigerian economy and financial services sector. Over the years, he has carved a positive niche in driving the narrative in national policy formulation, implementation and review. He remains a worthy point of reference and role model to current and future players in the Nigerian economy.”

Alhaji (Dr.) Umaru Kwairanga, Sarkin Fulani Gombe and Group Chairman, Nigerian Exchange Group (NGX), is a notable player in the Nigerian corporate world, a thorough-bred professional and a prominent community leader in Gombe State and the North East region.

He has served at the highest levels of the banking, pension, investment, manufacturing and commercial sectors of Nigeria’s economy. He is the current Chairman of the Nigerian Exchange Group Plc, Nigeria’ oldest stock exchange and also Chairman of Tangerine General Insurance Limited.

The NGX Chairman is also a Director on the Boards of First Bank Senegal Limited, Tangerine Apt Pensions Limited and the Group Managing Director of Finmal Finance Services Limited.

He is a past Chairman of Ashaka Cement Plc and previously served on the Boards of Jaiz Bank Plc, Central Securities Clearing System Plc, Lafarge Africa Plc and First Bank Mortgages Limited to mention a few.

Professionally, Alhaji Kwairanga is a Fellow of the Chartered Institute of Stockbrokers, Chartered Institute of Directors of Nigeria, the Certified Pension Institute of Nigeria and the Abuja Commodities and Securities Exchange.

He is also a Council Member of the Chartered Institute of Stockbrokers; the Chartered Institute of Directors and he is the current President of the Certified Pensions Institute of Nigeria.

Kwairanga is a holder of the prominent traditional title of Sarkin Fulani Gombe and has led several initiatives for peace and development in Gombe State and the North East region in general.

He has also been involved in policy and strategy formulation in the public sector as a Member of the Vision 2020 Committee, the Presidential Advisory Committee on the Nigerian Industrial Revolution Plan and several committees of the Securities and Exchange Commission (SEC).

NIMC Reports 122m NIN Enrolment as at July 2025

Business Journal

19/07/2025

The National Identity Management Commission (NIMC) says that National Identity Number (NIN) enrolment in Nigeria has reached the 122 million mark in July 2025, compared to 72.7 million in January 2022.

In remarks delivered at a Roundtable for Online Publishers in Lagos, Engr. Abisoye Coker-Odusote, Director-General/CEO, National Identity Management Commission (NIMC) said:

“Since January 2022, when NIN enrolment stood at 72.7 million, we have recorded a phenomenal increase. As of July 2025, enrolment stands at over 122 million and counting. This represents a 49% increase in enrolment rate, which is a clear testament to the progress we have made in just over three years. Monthly, millions of Nigerians are now being enrolled and issued a verifiable means of identification, unlocking access to critical services in education, agriculture, healthcare, social protection, and beyond.”

She added that NIN is now a prerequisite for accessing student loans, farmer subsidies, SIM card registration and social welfare schemes.

“We are seeing unprecedented levels of financial inclusion. Over 3 million farmers and 800,000 students have already benefited from NIN-linked services. At NIMC, we are equally investing in our people. Between 2023 and 2024, a total of 2,327 staff were promoted, 1,395 in 2023, and 932 in 2024, reflecting our commitment to rewarding excellence and fostering career growth.

Additionally, over 1,300 staff members have undergone training and retraining programmes, further equipping the Commission to deliver world-class identity management services.”

Emirates Wins 2025’s Most Recommended Global Brand Recognition by YouGov

Business Journal

19/07/2025

Emirates, the world’s largest international airline, has topped the rankings as YouGov’s Most Recommended Global Brand for 2025, a testament to the airline’s longstanding ‘Fly Better’ promise. Emirates is the only airline to be featured on the global top 10 list.

The YouGov Most Recommended Brands rankings measure the percentage of a brand’s customers who would recommend it to a friend or colleague. This year, Emirates achieved an outstanding score of 88.4%, with a significant lead on the next closest brand.

Fuelled by insights from YouGov BrandIndex, Recommend scores are based on over a million customer surveys in 28 markets, tracking brand performance daily between June 1, 2024 and May 31, 2025. Positive Recommend scores for each top 10 global brand are aggregated and weighted by the size of the brand’s current customer base per market.

Sir Tim Clark, President Emirates Airline, said, “This recognition underscores the deep connection and loyalty we’ve built with passengers all over the world, who trust us not only to get them to their destination, but to do so with care, reliability, and excellence. We will continue to evolve our already exceptional experience and set new benchmarks in travel to ensure Emirates is always a brand that our customers are proud to recommend.”

Emirates has always kept customers at the heart of its operations, providing memorable journeys at every touchpoint, every time. Continually investing in the finest products and exceptional signature services, the airline provides a world-class travel experience in-air and on-ground.

In the first half of 2025, Emirates expanded its global network with route launches to three new destinations, with Hangzhou to follow; inaugurated nine reimagined travel retail stores in Asia, Africa and Europe; introduced its newest aircraft type, the A350, to 10 destinations; and achieved its designation as the world’s first Autism Certified Airline™ making significant headway on its journey to make travel accessible to all.

And Emirates shows no signs of slowing down.

By December 2025, the airline will serve over 70 cities with aircraft fitted out with the latest interiors on Boeing 777s, A380s and A350s, representing almost 50% of its network, and offer over 2 million Premium Economy seats, enabling more travellers to enjoy Emirates’ latest generation premium onboard experience.

Emirates has been recognised by YouGov before, as the most recommended brand in the UAE in the Recommend 2024 rankings with a score of 92.6.

In YouGov’s 2024 US airlines report, Emirates recorded the “most satisfied customers amongst US flyers” and was one of the top 10 airlines considered by US Millennials and Gen Zs.

As an international online research data and analytics firm, YouGov pioneers accessible and neutral market research and consumer interest surveys, utilising its flagship tracking tool, YouGov BrandIndex.

SanlamAllianz Nigeria Unveils Nationwide Writing Competition

Business Journal

19/07/2025

In a bold move to spark creativity, storytelling, and financial confidence in the next generation, SanlamAllianz Nigeria has announced the launch of its inaugural Essay and Storytelling Competition for young Nigerians aged 10–16 years.

The competition goes beyond traditional writing contests, it leverages gamification and storytelling as tools for engagement, encouraging young minds to imagine bold futures while reinforcing values such as discipline, confidence, and purpose.

In partnership with AfricaComicade, the competition invites entries in the form of creative essays or short stories, giving children across the country the chance to showcase their imagination, voice, and originality. Winners stand a chance to receive cash prizes of up to ₦200,000, branded gift packs, and national recognition.

“At SanlamAllianz, we believe confidence starts early, with how young people are encouraged to dream, tell their stories, and believe in their voice,” said Chris Ekwonwa, Head, Strategy, Marketing and, Customer Relations. “This competition isn’t just about essays. It’s about empowerment. It’s about using writing and storytelling as a gamified entry point into bigger life conversations, about purpose, financial literacy, and imagination,” he concluded.

The competition is also part of SanlamAllianz’s broader kids and youth engagement strategy, which seeks to make financial education more accessible, exciting, and relevant to young Africans. Gamified challenges, creative prompts, and digital badges will be used to keep participants engaged throughout the competition period.

Participants can submit entries by visiting the competition portal https://bit.ly/SACOMP
Deadline for submissions is August 17, 2025.

With a legacy rooted in trust and transformation, SanlamAllianz continues to champion initiatives that merge innovation with social impact, building not just insurance coverage, but a culture of confidence for generations to come.

For two consecutive years, the firm had hosted fun and educating Children’s Day parties in Lagos and Abuja, further driving its deep conviction in the market of the future.

About SanlamAllianz

SanlamAllianz is a leading Pan-African financial services group, formed in September 2023 before its official announcement in 2025.

With operations in 27 African countries, SanlamAllianz leverages over 200 years of combined expertise to deliver a broad range of services, including life and general insurance, asset management, assistance, third-party administration, and retail credit.

SanlamAllianz Nigeria, a merger of two giant insurers, Sanlam, Africa’s largest non-banking financial services firm and Allianz, one of the world’s most recognizable insurance brands, is part of a broader initiative by both parent companies to create Africa’s leading non-banking financial services group in different markets.

Stanbic IBTC Ignites Investment Spark with InvestBeta Season 2

Business Journal

19/07/2025

Following the success of its debut season, Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings PLC, announces the return of the InvestBeta Game Show, with registration officially open.

The second season of the InvestBeta show builds on the first edition, aimed at equipping young Nigerians with real-world financial skills in a fun, relatable, and competitive format.

The show’s first season, which aired in 2024, captured the attention of Gen-Z viewers across the country, blending entertainment with investment education in a way that had never been done before. With positive feedback, it proved that young Nigerians are ready to learn how to grow their money, and all they need is the right platform.

The new season reflects the Group’s broader youth-focused mission through Beyond Dreams, its dynamic community created for Nigerians aged 18–30. The community aims to help young people turn their aspirations into reality through secure, timely and smart investment choices.

Since its inception, Beyond Dreams has grown to a network of over 90,000 young members, generated 2,100+ new investment accounts, and continues to position the Group as a trusted partner in the financial futures of Nigeria’s youth.

Busola Jejelowo, Chief Executive, Stanbic IBTC Asset Management noted InvestBeta reflects our deep commitment to financial education.

She said: “We understand that today’s young people want more than just advice but practical, hands-on experience. This is why the InvestBeta game show is here to change how young Nigerians see money and what they can do with it.”

Entries are now open to eligible young Nigerians who want to be part of Season 2. Registration is free via the official link: https://bit.ly/StanbicIBTCInvestBeta. Successful applicants will be selected to compete in a series of challenges designed to test their knowledge, strategy, and creativity around real-life financial scenarios.

And for those who missed the first season, full episodes are available to watch on Stanbic IBTC’s official YouTube channel. From quick financial questions to investment tips, Season 1 offered real lessons with real impact, and Season 2 is gearing up to raise the bar.

To stay in the loop, follow @beyonddreamsng across all social media platforms and be part of the countdown to the second season of Nigeria’s most engaging youth-focused investment competition.

If you are 18 to 26, curious about how money works, and ready to build your future, this is your sign.

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