Wecass Braun Unveils Integrated Energy Solutions for Nigeria

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23/05/2025

Mr. André Braun, Co-CEO of Wecass-Braun Integrated Energy Limited (2^nd Left); Engr. Forster Onyeka Edward, Co-CEO, Wecass-Braun Integrated Energy Limited (2^nd Right) and other key management executives at the brand opening ceremony of the company in Lagos.

Wecass-Braun Integrated Energy Limited has unveiled a suite of cutting-edge energy solutions for the Nigerian market.

Mr. André Braun, the Co-CEO of Wecass-Braun Integrated Energy Limited said at the brand opening ceremony of the company in Lagos that the company wanted to create a special place to showcase the latest lighting and solar technologies for individual and corporate clients in Nigeria. He said the company is bringing the right energy products on the world market as experts in the field to add value to clients in the country.

Braun said: “We have taken this time-consuming work off the hands of our clients to present the latest technology in this unique place. For example, our street lights, which are installed in one city can be monitored and switched from another city in a control room. Nigeria needs the latest and most sustainable technologies. These must be future-proof for an emerging and growing nation like Nigeria. We want customers and infrastructure programmes across Nigeria to rely on sustainable and future-proof products. That’s why we want to help them to choose first-class and long-lasting products.”

He added further: “For example, we have here our Waterproof Solar Carport as sample and it could be extended in a modular design. This can be extended or even manufactured in double-sided orientation. Or our great historical lights with the latest LED technology. Our battery cabinets with integrated inverters are compact and long-lasting.”

He said the company decided to have an open showroom to showcase their outstanding products here in Lagos because customers are often overwhelmed by the huge range of solar and lighting technology on offer. He said the energy firm provides such solutions from a single source, including installation, precisely tailored to the project of clients in terms of energy supply or lighting or something completely different.

In terms of training, the Wecass-Braun Co-CEO said he completed his training in several electrical and electronic professions in Germany, as well as trained as a master electrician.

“We want to provide our employees and other people with similar training here. Just like in Germany, we will carry out the theoretical part of the training in our training room here in Lagos. And the special thing about our open showroom is that it also serves as a practical venue for our employees and students. The practical part is taught on the exhibits. This means that our customers can rely on us to act professionally even when problems arise.”

Braun said the main goal of the company is to train enough people to open offices in other states to offer the same service in other parts of the country while support will come from the headquarters in Lagos.

“Everything is for the satisfaction of our customers. So that the investments made are sustainable and long lasting! We want to earn your trust.”

BudgIT Uncovers N7tn Projects Inserted by NA in 2025 FG Budget

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21/05/2025

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BudgIT, a civic tech organisation promoting transparency and accountability in Nigeria’s public finance, has uncovered 11,122 projects valued at N6.93 trillion inserted by the National Assembly into the 2025 Federal Government Budget.

What began as isolated irregularities has, over the years, evolved into a deeply entrenched culture of exploitation and abuse, with the budget process now a playground for self-serving political interests, led by top-ranking members of the National Assembly.

Our analysis reveals that 238 projects valued above N5 billion each, with a cumulative value of N2.29 trillion, were inserted with little to no justification. 984 projects worth N1.71 trillion and 1,119 projects within the range of N500 million to N1 billion, totaling N641.38 billion, were indiscriminately inserted, raising questions about their relevance and alignment with national priorities.

These insertions, far from promoting development, appear tailored to satisfy narrow political interests and personal gains rather than the citizens’ interests.

A closer look shows that 3,573 projects worth N653.19 billion are assigned directly to federal constituencies and 1,972 projects worth N444.04 billion to senatorial districts. Categorically, some of the most glaring anomalies include: 1,477 streetlight projects worth N393.29 billion; 538 boreholes totalling N114.53 billion; 2,122 ICT projects valued at N505.79 billion; and N6.74 billion earmarked for “empowerment of traditional rulers”

Shockingly, 39% of all insertions—4,371 projects worth N1.72 trillion—were forced into the Ministry of Agriculture’s budget, inflating its capital allocation from N242.5 billion to N1.95 trillion. The Ministries of Science and Technology and Budget and Economic Planning also saw bloated allocations of N994.98 billion and N1.1 trillion, respectively, from insertions alone.

Even more concerning is the targeted misuse of agencies like the Nigerian Building and Road Research Institute (Lagos) and the Federal Cooperative College, Oji River, as dumping grounds for politically motivated projects.

These agencies lack the technical capacity to execute such projects, leading to rampant underperformance and waste. For example, the Federal Cooperative College, Oji River—a training institution—was saddled with: N3 billion for utility vehicles to support farmers and distribution agents; N1.5 billion for rural electrification in Rivers State; and N1 billion for solar streetlights in Enugu State.

These are examples of agencies operating outside their mandates, managing projects unrelated to their statutory functions, and adding zero value to national development.

Despite these findings, the Presidency has remained conspicuously silent. Recall that in the third and fourth quarters of 2024, BudgIT launched the “The Budget is a Mess” campaign to bring these issues to light.

We submitted formal letters outlining our findings to the Presidency, the Budget Office, and the National Assembly. While these letters were acknowledged, no response was received from any of the institutions, and not a single institution has taken responsibility for the anomalies. Even more concerning is the silence from the Presidency—silence which, in the face of overwhelming evidence, amounts to complicity.

Commenting on the findings, Gabriel Okeowo, BudgIT’s Country Director, stressed the urgent need to restore integrity to Nigeria’s budgeting process, highlighting how unchecked project insertions by the National Assembly have derailed the purpose of national planning, weakened public trust, and diverted resources away from critical development priorities.

“The insertion of over 11,000 projects worth N6.93 trillion into the 2025 budget by the National Assembly is not just alarming—it is an assault on fiscal responsibility. This trend, increasingly normalised, undermines the purpose of national budgeting, distorts development priorities, and redirects scarce resources into the hands of political elites. Nigeria cannot afford to run a government of projects without purpose. We urgently need transparency, constitutional clarity, and a return to evidence-based planning that puts citizens, not politics, at the centre of the budget.” Okeowo said.

In light of the foregoing, we call on President Bola Ahmed Tinubu to exercise stronger executive leadership and reform the budgeting process to ensure alignment with the Medium-Term National Development Plan (2021–2025) and other national priorities. We urge the Attorney General of the Federation and Minister of Justice to seek a constitutional interpretation from the Supreme Court regarding the extent of the National Assembly’s appropriation powers, particularly its authority to unilaterally introduce new capital projects without Executive concurrence.

We hope that the anticorruption agencies, the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC), will also take action to track these projects and ensure Nigeria gets value for money.

We also call on citizens, the media, civil society organisations, and the development community to speak out and demand reform. This is not merely about financial mismanagement—it is a matter of justice, equity, and the future of accountable governance in Nigeria. The 2025 Budget must serve the interests of the Nigerian people, not a privileged few.

Life Insurance Explained: Why Staying the Course Matters More Than Early Withdrawal

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21/05/2025

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In response to recent media inquiries highlighting common misconceptions around savings elements within life insurance policies, Mr. Babajide Osopale, Head, Retail Life Technical at AIICO Insurance Plc, offers clarity on frequently misunderstood aspects – particularly around the early termination of long-term life insurance products.

In today’s dynamic world, more individuals are taking proactive steps to secure their future and that of their loved ones. One of the most effective tools for doing this is life insurance — a product designed not just to provide peace of mind, but real financial protection in times of need.

However, it is important that members of the public fully understand what life insurance is, and more importantly, what it is not. At AIICO Insurance Plc., we are committed to empowering Nigerians with the knowledge needed to make informed financial decisions, especially when it comes to insurance.

Life Insurance: It’s Not a Bank Account

A common misconception we continue to see is the idea that life insurance works like a savings account where deposits made can be withdrawn on demand, with accumulated interest. This is not the case.

Life insurance is fundamentally a risk protection product. From the moment your first premium is paid, you are covered for the full sum assured under the policy. This means that in the unfortunate event of death during the policy term, named beneficiaries will receive the agreed payout regardless of how many premiums the policyholder may have paid up to that point.

This is the core difference between life insurance and conventional savings or investment products: it offers immediate coverage against life’s uncertainties, not guaranteed withdrawals or cash returns at any time.

Why Surrender Values May Be Lower

Most life insurance policies do offer a surrender value if the policyholder chooses to terminate the policy before its maturity date. However, this surrender value is typically a fraction of the total sum assured, or total premiums paid, particularly in the early years of the policy.

This is because the insurance company assumes full liability for the sum assured from day one, and a significant portion of early premiums goes toward covering this risk, administrative costs, and regulatory reserves. The surrender value is not a refund mechanism; rather, it is a calculated benefit based on how far the policy has run and the structure of the contract.

Here are my thoughts – We encourage policyholders to keep their life insurance policies active until maturity, so they can enjoy the full benefits—such as maturity payouts, bonuses (where applicable), and lasting peace of mind. Knowing that AIICO will step in if the unexpected happens brings comfort, as your loved ones will receive the financial protection you’ve prepared for them.

In addition to our life insurance products, AIICO also offers investment-focused products for customers who may prefer options without risk protection but with the potential for competitive returns. These include flexible savings plans with lump-sum or periodic contribution options. Some of these investment plans come with features such as guaranteed payment periods, and interest accruals, offering customers a structured way to grow their funds while meeting long-term financial goals.

Facing Financial Challenges? Don’t Surrender — Talk to Us

We understand that life is unpredictable, and financial pressures can sometimes arise during the course of a policy. If you find yourself in such a situation, we urge you not to rush into terminating your policy.

At AIICO, provisions such as policy loans are available to eligible policyholders, allowing access to funds against the value of their policies without terminating coverage. These options can serve as vital support during financial emergencies, helping customers meet urgent needs while retaining the life insurance protection their policies provide.

AIICO’s customer service teams are readily available to guide policyholders on the options available under their policies. We encourage open communication to ensure customers receive the support they need while preserving the long-term value of their insurance coverage.

Read Before You Sign: Know What You’re Buying

Insurance contracts come with clearly stated terms and conditions, including details about premium payments, benefits, surrender value, maturity value, exclusions, and more. These are all outlined in the policy documents, brochures, and benefit illustrations provided at the start of the policy.

Members of the public are encouraged to read and understand all policy documents thoroughly before signing. Where any terms or conditions appear unclear or complex, it is advisable to seek clarification from the insurance provider to ensure a full understanding of what the policy covers — and what it does not.

At AIICO., we have implemented a structured onboarding process to ensure new customers fully understand our products before signing up. During this process, we provide clear and comprehensive information on policy terms, key product features, benefits, premium frequency, and policy duration. This proactive and transparent approach is designed to support informed decision-making and build lasting customer trust.

Why Trust Matters

AIICO Insurance Plc. has been in business for over six decades, serving individuals, families, and businesses across Nigeria. Our track record of trust, integrity, and consistent claims payment is the reason why many Nigerians continue to choose us as their preferred insurer.

We pay out billions of naira monthly in claims and benefits, standing by our customers when it matters most. Our commitment is not only to provide protection but also to ensure transparency and customer support every step of the way.

Whether you’re already insured or considering taking out a life policy, we encourage you to look beyond short-term needs and focus on the long-term protection life insurance offers. It’s one of the most responsible financial decisions you can make for yourself and your loved ones.

If you need guidance on the best product for your needs or clarity on your current policy, AIICO Insurance is here for you. Let’s build your financial security – together.

NCC Pays Courtesy Visit to NCA in Ghana

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21/05/2025

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L-R: Executive Vice Chairman/ Chief Executive Officer, Nigerian Communications Commission (NCC), Dr. Aminu Maida and Ag. Director General, National Communications Authority (NCA), Ghana, Edmund Fianko, during a benchmarking visit of the NCC to the NCA in Ghana recently.

SanlamAllianz Nigerian Integration Sparks Industry Interest

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21/05/2025

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Two of the biggest names in global and African non-banking finance and insurance services, Sanlam and Allianz, have sparked speculation in Nigeria’s insurance industry following a wave of co-ordinated digital communication activities indicating an imminent completion of the expected merger of the operations in Africa’s largest economy.

The firms, which have already merged operations in 27 African countries, including Ghana and Rwanda, under the SanlamAllianz banner, are now widely believed to be ramping up their alliance in Nigeria as the next significant step in their partnership.

Recent posts on both companies’ digital platforms featuring their logos side-by-side and joint thematic messaging have drawn attention across financial and business circles. The coordinated activity mirrors pre-merger patterns observed in other African markets where their collaboration was subsequently formalised.

In 2022, Sanlam and Allianz announced the formation of a strategic joint venture covering 27 African markets. The move was intended to combine Sanlam’s local market depth with Allianz’s global scale and technical expertise, creating a formidable pan-African financial services entity with ambitions to lead in life and general insurance, asset management, and health insurance.

The partnership has taken concrete shape in countries like Ghana, where existing operations have been unified and rebranded under the SanlamAllianz name. The goal has been to offer more relevant, inclusive, and tech-forward financial solutions for individuals and businesses in these markets.

Nigeria is the continent’s most populous nation and its largest economy, yet despite recent progress, its insurance penetration remains under 1%. In 2023, the industry crossed the ₦1 trillion gross written premium mark for the first time, indicating untapped potential and growing consumer interest in financial protection.

Given these dynamics, analysts say Nigeria is a natural next step in the SanlamAllianz expansion journey. The presence of both logos in coordinated messaging has been read as a signal of intent. Both brands already operate in Nigeria, and a merger of local operations would represent a formidable alliance and substantial consolidation.

Market observers believe such a move could raise the bar in Nigeria’s insurance industry, fostering more robust competition, improved product design, and greater consumer trust in formal financial services. It would also align with both firms’ broader objective of promoting financial inclusion and building long-term resilience across African economies.

At a time when several global brands are reassessing their African strategies, Sanlam and Allianz’s continued commitment affirms their vote of confidence in Nigeria’s long-term prospects. This potential merger could not only reshape the insurance landscape but will also evidently become a significant catalyst and signal to the global investment community that Nigeria remains a viable and valuable market.

FG: Economic Reforms Driving Growth, Investor Confidence

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20/05/2025

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The Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, says Nigeria’s economy is witnessing a significant turnaround, driven by bold reforms, improved co-ordination and a renewed focus on national priorities.

In a feature interview for an upcoming TV documentary marking President Bola Ahmed Tinubu’s second anniversary, the Minister declared that the government’s “Renewed Hope Agenda” is working and winning over investors at home and abroad.

“This is two years well spent,” Bagudu confidently stated, reaffirming the government’s commitment to the economic reforms.

“Mr. President confronted Nigeria’s economic realities with bold and necessary choices—tough as they might be—and those measures are now yielding results.”

Bagudu noted that the reform-driven economy has seen four consecutive quarters of GDP growth, exchange rate stability, and a resurgence in private sector confidence.

“We have seen four quarters of successive economic growth, stability in foreign exchange, and appreciation by Nigerians and the international community. Rating agencies have consistently appreciated what we are doing,” he said.

He added that foreign and domestic investors have responded positively to the government’s economic agenda, particularly agriculture, energy, and infrastructure.

“We have seen investors from Brazil, Belarus, and Saudi Arabia increasingly entering our agricultural space. The world economic community and multilateral institutions are putting more faith in our economy.”

According to the Minister, this renewed interest stems from the administration’s commitment to credibility, transparency, and structural change.

“Investors want to see good policy—can I get paid back? Are the numbers credible? Is the environment transparent? That’s why they appreciate when they see quarterly GDP growth,” he said.

“For the first time in 25 years, Nigeria is refining oil. Mr President was courageous enough to allow crude sale in naira to our refiners. This is a testament to his belief in our economy.”

Bagudu described removing fuel subsidies and unifying the foreign exchange market as transformative decisions restoring fiscal sanity.

“We were losing 5% of our GDP on fuel subsidy—money going to just a few,” he said. “Mr. President took the courageous step to end it.”

“The foreign exchange reform removed uncertainty and favouritism. We now have a fair market—willing buyer, willing seller—which has generated revenue growth and boosted private sector confidence.”

Bagudu said the 2024 and 2025 budgets balance fiscal responsibility and strategic investment in priority sectors.

“We have increased spending in health, education, infrastructure, security, and technology. The 2024 budget achieved significant deficit reduction, and more importantly, it showed that we are serious—and the markets believed us.”

He emphasised President Tinubu’s respect for the rule of law, even in managing inherited debt and Central Bank financing.

“Mr. President inherited ₦22.7 trillion in Ways and Means financing, but he insisted on respecting the Central Bank’s independence. That discipline is earning us credibility globally.”

The Minister credited the Presidential Economic Co-ordination Council and the Economic Management Team—led by President Tinubu and Co-ordinating Minister for the Economy, Wale Edun—with ensuring coherent, results-driven governance.

“This is teamwork. The President is the chief coordinator. He understands the global economic context, and the private sector respects him. We’re not just doing government-to-government coordination—the private sector is part of this reform effort.”

While acknowledging that the reforms may feel challenging in the short term, Bagudu likened the process to a necessary fitness regimen.

“Our economy is like a body going to the gym. It might feel painful now, but the muscles of progress are forming.

“Mr. President is saying: ‘I’m ready to take the pain so our children and grandchildren will inherit a more prosperous Nigeria.’ This isn’t just economic reform—it’s a moral responsibility,” Bagudu added.

Linkage Assurance Earns B+ Rating from AM Best

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20/05/2025

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Linkage Assurance Plc, a prominent non-life insurance company in Nigeria, has been assigned a Long-Term Issuer Credit Rating (ICR) of “B+” by AM Best, a leading global credit rating agency.

The outlook for both the credit rating and the issuer credit profile is stable.

AM Best’s rating reflects Linkage Assurance’s strong balance sheet strength, in addition to its adequate operating performance, favorable business profile and effective enterprise risk management framework.

This development places Linkage Assurance Plc among the select Nigerian insurers evaluated by AM Best, reaffirming its position as a significant player in the country’s insurance landscape.

Linkage Assurance Plc is listed on the Nigerian Exchange Group (NGX) and currently operates 14 branches across Nigeria.

Its corporate head office is located at Plot 20, Block 94, Providence Street, Off Adewunmi Adebimpe Street, Lekki Phase 1, Lagos.

The stable outlook signifies that, barring unforeseen events, Linkage Assurance Plc is expected to maintain its current credit profile over the near to medium term.

CBN Reassures Public on Banking Sector Stability

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20/05/2025

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The attention of the Central Bank of Nigeria (CBN) has been drawn to certain publications and social media reports containing misleading information regarding the operations of a regulated financial institution.

The CBN wishes to categorically reassure the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound.

Like all other regulated institutions, the institution referenced in these reports is held to stringent regulatory requirements, and there is no cause for concern regarding the safety of depositors’ funds.

The Bank affirms that it continues to monitor all financial institutions under its regulatory purview and maintains robust frameworks for early warning signals and risk-based supervision.

These mechanisms ensure that any emerging issues are promptly addressed to protect the integrity of the financial system.

We urge the public to disregard sensational or unverified claims and rely solely on official channels for information about the financial system.

The CBN remains dedicated to fostering a secure banking environment where depositors can be fully confident in the safety of their funds.

It will continue to monitor and adapt strategies to safeguard the financial interests of all Nigerians and stakeholders in our financial system.

Signed:

Hakama Sidi Ali (Mrs.)

Ag. Director, Corporate Communications

Insurance Industry Unveils 3-Month Third Party Media Campaign

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20/05/2025

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The insurance industry in Nigeria has unveiled a 3-month media campaign to promote public awareness of third-party motor insurance policy in the country.

Mrs. Ebelechukwu Nwachukwu, the Chairperson of the Insurers Sub-Committee on Communication and Stakeholder Management said in Lagos that the industry decided to launch the campaign to fully support the business of operators to grow the third-party motor insurance segment of the market.

She added that it is also intended to support the recent work of the Nigeria Police in the enforcement of third-party motor insurance policies across the country in partnership with the insurance industry.

Nwachukwu listed the four major objectives of the campaign as:

To make vehicle owners aware of the compulsory third-party motor insurance policy
That it is necessary for vehicle owners to purchase authentic third-party motor policies
To make them aware of where to purchase the policies/where to complain
To make it possible for the buyers to verify the policy document

She stated that the campaign will target major cities in Nigeria such as Lagos, Abuja, Port-Harcourt and others in order to achieve the objectives of the campaign. The media campaign will also run through the five major languages in Nigeria: (English-Pidgin-Yoruba-Igbo-Hausa) for effective dissemination to the vast majority of Nigerians.

The sub-committee chairperson emphasised that insurance penetration in Nigeria will increase rapidly if people purchase third-party motor insurance policies the way they should.

“It is a good time to succeed on the campaign. The insurance industry is ready for the campaign. It is also an immediate response to the work of the Police on third-party motor insurance enforcement.”

The slogan of the campaign is: Third Party Insurance Works: Get it. Use it!

Nigeria Outlook: Inflation to Increase in the Near Term

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18/05/2025

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Cordros Securities has predicted increase in the inflation rate in Nigeria going forward.

In its current outlook for the Nigerian economy, the firm stated:

We highlight that inflation risks remain tilted to the upside, particularly as persistent global uncertainty continues to exert pressure on naira stability.

This, in turn, is expected to keep import costs elevated and contribute to overall price increases. In addition, seasonal dynamics in the agricultural cycle are likely to reinforce food price pressures.

For context, May typically marks the beginning of the planting season in Northern Nigeria, overlapping with the off-season harvest, while in the Southern region, planting activities began earlier in April and are expected to continue through May.

Given these seasonal patterns, food supply is likely to remain constrained relative to demand in the near term, sustaining upward pressure on food prices.

Therefore, headline inflation may likely increase in May, reflecting sustained pressure across both food and core components of the consumer basket.

BudgIT Flags 2025 FG Budget as Opaque on Revenue Stream

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18/05/2025

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BudgIT, a prominent civic-tech organisation promoting transparency and accountability in Nigeria’s public finance, has raised significant concerns over the Federal Government’s 2025 Budget, describing its formulation as legally questionable and lacking adequate disclosure, particularly regarding its revenue framework.

Recall that the Presidency initially submitted a proposed expenditure of N47.9 trillion, which President Bola Ahmed Tinubu later revised to N54.2 trillion through a presidential letter citing increased revenue expectations. The National Assembly further increased this figure to N54.9 trillion, without publishing any accompanying macroeconomic or fiscal analysis to justify the additions.

These changes fall short of the requirements of the Fiscal Responsibility Act (FRA) of 2007, which mandates that aggregate expenditure must not exceed estimated aggregate revenue plus a deficit of no more than 3% of the Gross Domestic Product (GDP).

Specifically, section 12 stipulates that: “Aggregate expenditure and the aggregate amount appropriated by the National Assembly for each financial year shall not be more than the estimated aggregate revenue plus a deficit not exceeding 3% of the estimated Gross Domestic Product or any sustainable percentage as may be determined by the National Assembly for each financial year.”

Based on the Budget Office’s GDP projection of N338 trillion, total spending should not have surpassed N51.95 trillion. The current appropriation exceeds that limit by more than N3 trillion, raising concerns about fiscal discipline and legal compliance.

Equally troubling is the government’s continued refusal to publish a detailed revenue breakdown for the 2025 fiscal year. While references have been made to certain revenue sources, no comprehensive data has been released to allow for independent scrutiny. Compounding the opacity is the fact that the latest available federal Budget Implementation Report covers only the second quarter of 2024, despite formal requests made to the Budget Office of the Federation for more recent updates.

Commenting, BudgIT’s Group Head of Research and Policy Advisory, Vahyala Kwaga, stresses that these patterns signal a regression from the standards of fiscal transparency and accountability that Nigeria has worked to establish over the past decade.

“Transparency is not a favour to citizens; it is a constitutional and moral obligation of the government. The 2025 budget, as it stands, fails the basic tests of legality, transparency, and economic prudence. At a time when Nigeria faces rising debt, inflationary pressures, and critical development challenges, the importance of fiscal clarity cannot be overstated. Citizens have the right to know how public funds are sourced and allocated, and the government has the duty to provide such information,” he said.

These concerns are far from trivial; they point to a worrying shift towards arbitrariness and opacity in the presidency’s fiscal conduct. If left unchecked, such actions risk undermining Nigeria’s significant gains in institutionalising transparency and compliance within its public finance framework.

BudgIT, therefore, calls on the Presidency to uphold the principles of transparency, due process, and legal compliance in the management of public funds. We also urge citizens, civil society organisations, the private sector, and the international community to collectively demand the immediate publication of the full revenue framework underpinning the Federal Government’s 2025 Budget.

Tripoint Travels Hosts Pre-GEC Brunch for Nigerian Delegates ahead of Global Entrepreneurship Congress 2025

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18/05/2025

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In a vibrant celebration of national pride, global relevance, and entrepreneurial drive, Tripoint Travels, the official logistics partner of GEN Nigeria hosted an exclusive pre-congress brunch for Nigerian delegates attending the upcoming Global Entrepreneurship Congress (GEC) 2025.

Held at Tripoint’s Lagos headquarters, the event brought together top entrepreneurs, investors, ecosystem leaders, and government officials, including Dr. Peter Bamkole, Deputy Vice Chancellor, Pan Atlantic University; Dr. Olawale Anifowose, Managing Director of the Global Entrepreneurship Congress Nigeria (GEN Nigeria); Dr. Babangida Ruma from The Katsina State Enterprise Development Agency (KASEDA), Mrs. Uche Uzoebo, CEO of the Shared Agent Network Expansion Facilities (SANEF) Limited; Actor and influencer Mr. Umar Gombe; along with other distinguished guests and representatives from various government bodies, all in anticipation of their journey to Indianapolis, Indiana this June.

The Global Entrepreneurship Congress (GEC), Organized annually by the Global Entrepreneurship Network (GEN), the GEC brings together more than 5,000 participants from over 200 countries, including Entrepreneurs, Investors, Policymakers, Researchers, & Support organisations to build stronger entrepreneurial ecosystems worldwide. Since its inception in 2009, the GEC has become a cornerstone of international collaboration and entrepreneurial innovation.

This year’s GEC, hosted in partnership with the Indiana Economic Development Corporation (IEDC), marks the Congress’ return to the United States after 16 years. Holding in Indianapolis from June 2–5, 2025, the event aims to spotlight Indiana’s pro-growth business climate while strengthening global ties that promote sustainable economic development and innovation.

The brunch allowed the delegation to connect in an intimate and engaging setting, sharing expectations, ideas, and goals ahead of one of the most impactful convenings in the global entrepreneurship calendar. Designed to build camaraderie, align visions, and foster a sense of shared identity, the event emphasised the importance of collaboration as Nigerian representatives prepare to take the global stage.

“The Global Entrepreneurship Congress is not just a conference, it’s a platform that is deliberate about global innovation meeting local action, said Mrs. Shuhda Muhammed, Founder of Tripoint Travels. We wanted to set the tone for our delegates, to ensure that they feel connected to this year’s theme – The Bold Change the World, as well as foster the necessary collaborations to make that happen at the local and global stage. As a company rooted in both logistics and empowerment, we are proud to play a role in making their journey seamless and meaningful.”

Speaking at the event, Dr. Olawale Anifowose, Managing Director of the Global Entrepreneurship Network Nigeria (GEN Nigeria), emphasized the significance of the Global Entrepreneurship Congress (GEC) as both a meeting point and a growth platform, where Nigerian entrepreneurs engage with global ecosystems to connect, learn, and thrive.

He noted that Nigeria’s presence at the GEC is not just symbolic but essential, reflecting the country’s growing influence in the global entrepreneurial landscape. Dr. Anifowose also commended Tripoint Travels for their pivotal role as a trusted partner in mobilising Nigeria’s brightest talent and making the journey to GEC 2025 a reality.

GEN Nigeria has emerged as a critical force in supporting entrepreneurship at the grassroots and policy level, and with a Partner as Tripoint Travels, its expansive network and initiatives, continues to actively shape the country’s innovation landscape, championing inclusive growth, and equipping thousands of Entrepreneurs with the tools, exposure, and networks needed to succeed in both local and international markets.

With delegates selected for their contributions to Ecosystem building and Entrepreneurship, Nigeria’s representation at The GEC 2025 would reflect the country’s diversity, resilience, entrepreneurship spirit and creative potential.

The presence of Founders and Innovators like Mr Rotimi Awofisibe – MD, VFD Bank, one of the officially invited participants, is testament to Nigeria’s growing influence in the Global Entrepreneurship arena.

“We’re proud to be a longstanding partner of GEN Nigeria, supporting the Entrepreneurs shaping Nigeria’s future. Attending the Global Entrepreneurship Congress (GEC) is about learning, contributing, and returning with a renewed, broader vision. It’s through committed partnerships like ours that such visions become reality,” said Mrs. Muhammed.

More than just a travel management company, Tripoint Travels is a trusted enabler of dreams, mobility, and opportunity. As GEN Nigeria’s official travel partner for GEC 2025, Tripoint is overseeing every aspect of the delegation’s journey, from visa coordination and flight logistics to accommodation and ground transportation, ensuring a seamless and empowering experience.

Tripoint Travels also extends its commitment to ecosystem development through Tripoint Academy, its nonprofit arm that supports early-stage entrepreneurs with training, mentoring, and access to local and global opportunities. Tripoint’s partnership with GEN Nigeria reflects its broader mission: to use travel as a tool for empowerment, education, and national development.

“Every single ticket we issue is a bridge, a bridge between where someone is now, and where they’re meant to be,” added Mrs. Muhammed. “We don’t just book travel. We open up the world for Nigerian entrepreneurs.”

The highlight of the Pre-Congress brunch was the piece of art done by all the delegates present at the event. The interactive art was introduced as an inclusive way to showcase the multi-culturalism and pivotal position of the Nigerian business mind, and so the essence of the Nigerian delegation materialised through the painting. The art work will be exhibited and gifted at a special event during the Congress.

CIoD Lauds NDIC’s Commitment to Corporate Governance, Ethical Leadership

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15/05/2025

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L-R: MD/CE, Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan, presenting NDIC’s research publications to the visiting President and Chairman of Council, Chartered Institute of Directors (CIoD), Alhaji Tijjani M. Borodo, FIoD, during the Governing Council’s courtesy visit to the NDIC’s Management in Abuja.

The Nigeria Deposit Insurance Corporation’s (NDIC) excellence in operational standards, consistent implementation of its mandate, and unwavering commitment to ethical leadership and sound corporate governance especially in banking supervision and depositor protection, have been critical factor in the Corporation’s success in promoting the stability of the banking sector and the nation’s financial system.

The President and Chairman of Council of the Chartered Institute of Directors (CIoD) Nigeria, Alhaji Tijjani Borodo, made these remarks during a courtesy visit by the CIoD Governing Council to the Management of the Nigeria Deposit Insurance Corporation (NDIC) at the Corporation’s Head Office in Abuja.

While commending the NDIC for its notable achievements in bank liquidation and resolution, he noted that poor corporate governance has been a major contributing factor to bank failures. He stated that as the apex professional body for directors in Nigeria, the CIoD has instituted mechanisms and procedures to sanction erring directors found culpable of unethical conduct.

He reaffirmed the Institute’s strong commitment to promoting high standards of governance and leadership across all sectors, including the banking industry.

Tijjani Borodo described the visit of the Governing Council of the CIoD opportunity to strengthen and sustain the partnership between the Institute and the NDIC, particularly in the area of capacity building through board induction programmes, executive leadership development, and governance training tailored to the specific needs of directors in both the public and private sectors.

In response, the NDIC MD/CE, Mr. Bello Hassan, expressed appreciation to the CIoD leadership in promoting professionalism and corporate accountability.

He emphasised the NDIC’s commitment to depositor protection and financial system stability, stressing that corporate governance is central to the Corporation’s operational mandate and critical in strengthening the integrity and resilience of banks as well as instilling public confidence in the financial system.

Mr. Hassan further reiterated the Corporation’s readiness to sustain its partnership with the Institute in advancing a strong culture of corporate governance among the NDIC’s executive staff and across the broader financial industry.

emPLE Partners LASPARK on Tree Planting Initiative in Lagos State

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Business Journal

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15/05/2025

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L-R: Group COO and Executive Director, Technical, emPLE Life Assurance, Jolaolu Fakoya; Chief Marketing Officer, emPLE Group, Labisi Adesokan ; General Manager, Lagos State Parks and Gardens Agency (LASPARK), Mrs. Adetoun Ibilola Popoola; Managing Director, emPLE General Insurance, Oyinlade Olalekan; Executive Director, Technical, emPLE General Insurance, Titilayo Akinsiku; and Chief Risk and Sustainability Officer, emPLE Life Assurance, Kunle Odetola-Odeleye, at the emPLE Tree Planting Initiative on Wednesday, 14th of May, at Iganmu, Lagos.

emPLE, one of Nigeria’s leading insurance providers, has officially flagged off Green emPLE, its company-wide sustainability initiative, with a tree-planting exercise held in partnership with the Lagos State Parks and Gardens Agency (LASPARK) at the National Theatre, Iganmu, Lagos.

As part of the launch, emPLE planted 65 trees across strategic locations in Lagos. The carefully selected tree species were chosen for their environmental benefits such as improving air quality, reducing urban heat, and enhancing the city’s ecological balance.

Speaking at the event, Oyinlade Olalekan, Managing Director of emPLE General Insurance Limited, remarked,

“At emPLE, we’re deeply committed to empowering lives—not just through our financial offerings but by actively contributing to a more sustainable world. The launch of Green emPLE and today’s tree-planting activity are key steps in that journey. Sustainability is one of our core values, and we’re proud to be playing our part in building a cleaner, greener Lagos.”

He added,

“We see Green emPLE as a platform for driving real impact, one initiative at a time. This partnership with LASPARK is only the beginning. We look forward to rolling out more activities that reinforce our mission and encourage others to join us in protecting the planet.”

Mrs. Adetoun Popoola, General Manager of LASPARK, also commended the initiative, saying:

“Our mandate at LASPARK is to promote a greener Lagos through tree planting and urban beautification. It’s always encouraging to see private sector organisations like emPLE step forward in support of this mission. Collaborations like this help us get more done and inspire residents and businesses alike to take sustainability seriously. We are excited about what Green emPLE represents and we look forward to more impactful partnerships.”

To acknowledge emPLE’s contribution, LASPARK presented the company with a Tree Planting Certificate, recognising its role in environmental preservation and its ongoing support for climate resilience and green urban development.

Green emPLE is emPLE’s long-term commitment to promoting sustainable practices that support a healthier planet and empower future generations. The initiative reflects the company’s belief that true empowerment goes beyond financial products it includes taking responsibility for the environment and driving long-term positive change.

About emPLE

emPLE is a leading financial services company dedicated to providing insurance and investment solutions to retail and corporate clients across Africa.

At emPLE, our purpose is to empower Africans by providing innovative financial solutions that enhance their freedom, security, and prosperity.

We believe that true empowerment comes from providing not just access to financial products but also the knowledge and tools necessary for our customers to make informed decisions and achieve financial independence.

GTR West Africa: Forging Unique Connections, Developing New Business Relationships- RMB Nigeria

By

Business Journal

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14/05/2025

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L-R: Chief Country Representative Nigeria & Head Trade Finance Financial Institutions Sub-Saharan Africa at Deutsche Bank, Andreas Voss; Group Head, Manufacturing Corporate Banking Group, First Bank Nigeria, Aina Dele-Adegbola; Group Treasury Manager, CFAO Nig Ltd, Yinka Ogunnubi; Managing Director, Head of International Banking Sales Africa at ODDO BHF, Alfred Idialu; Head of Commercial Finance, Guinness Nigeria Plc, Oluwole Ajiboye; Global Head, Treasury and Investor Relations, Sunking Limited, and Head, Treasury and Trade Solutions, Rand Merchant Bank Nigeria (RMBN), Oluwaseyi Onanuga at Global Trade Review (GTR) West Africa Conference 2025 recently held in Lagos.

Rand Merchant Bank (RMB), a leading corporate and investment bank in Africa, made a significant impact at the Global Trade Review (GTR) West Africa Conference 2025.

Held in Lagos recently, the event, themed “Financing Growth in West Africa’s Trade Epicentre,” brought together industry experts, influential personalities, and key stakeholders to shape the future of trade in the region.

With support from major regional players, the conference featured over 45 speakers across two dynamic days of knowledge sharing and networking.

GTR West Africa 2025 provided a platform for forging unique connections and exploring the latest trends, policies, and factors influencing trade, supply chains, infrastructure, and export financing in West Africa.

Oluwaseyi Onanuga, Head of Treasury and Trade Solutions at RMB Nigeria, was a panelist in the discussion, “Ghana, Nigeria and Beyond: Assessing Trade Prospects.”

Onanuga highlighted key reforms and developments boosting investor sentiment and the financing environment.

“The robust economic reforms initiated by Nigeria’s current administration are commendable steps towards advancing the economy. Measures like removing fuel subsidies and liberalising the foreign exchange market aim to foster macroeconomic stability and attract both local and foreign capital. Additionally, the Central Bank of Nigeria’s financial sector reforms are strategic efforts to safeguard the economy and bolster investor confidence,” he said.

With Nigeria and Ghana poised for significant strides in 2025, the outlook for trade finance is bright.

“We anticipate robust growth in intra-African commerce under the African Continental Free Trade Area. Enhancements to regulatory frameworks and payment-settlement infrastructures will broaden the trade-finance market, drive down transaction costs, reduce concentration risk, lower barriers to entry for emerging players, and foster a more inclusive and resilient trading environment in the region,” he added.

About RMB Nigeria Limited:

RMB Nigeria Limited is a leading African Corporate and Investment Bank and is a member of the FirstRand Group. RMB Nigeria offers its clients innovative, value-added advisory, funding, trading, corporate banking and principal investing solutions.

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