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We Need More than CNII Order to Secure Telecom Investments – Experts

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L-R: Associate Director, Government Relations, IHS Nigeria, Bond Abbe; Co-founder, Infratel Africa, Dr. Tola Yusuf; Group Chief Operating Officer, WTES Projects Limited, Chidi Ajuzie; President, Association of Telecommunications Companies of Nigeria (ATCON), Tony Emoekpere; National Chairman, Association of Licensed Telecom Operators of Nigeria (ALTON); Engr. Gbenga Adebayo; and Convener, Policy Implementation Assisted Forum (PIAFo), Omobayo Azeez at the seventh edition of PIAFo on Critical National Information Infrastructure (CNII) Order Implementation held on Thursday in Lagos.

Industry leaders have identified important measures to secure telecommunications infrastructures in the country and ensure that investments in the telecoms space are protected.

They argued that as much as the effective implementation of the Executive Order on the Designation and Protection of Critical National Information Infrastructure (CNII) is important, the Order cannot solely guarantee infrastructure safety except certain internal and standardisation issues are first resolved by operators.

Speaking at the 7th Policy Implementation Assisted Forum (PIAFo) Summit on CNII implementation held Thursday in Lagos, the industry leaders highlighted pressing issues such as infrastructure vandalism, unauthorised installations, and cable theft, while proposing actionable solutions to safeguard the country’s critical national infrastructure.

Gbenga Adebayo, Chairman of the Association of Licensed Telecommunications Operators of Nigeria (ALTON), stressed the importance of proper infrastructure maintenance and installation to prevent vandalism and theft.

He highlighted the widespread issue of stolen manhole covers and poles, attributing the problem to poor maintenance practices. “When properly installed, these components are difficult to remove. However, due to negligence, they are often left unsecured, making them easy targets for theft,” he said.

Adebayo also pointed out that community resistance to infrastructure projects has significantly hindered progress. He recounted instances where local communities prevented trucks from accessing sites due to previous unaddressed damages caused by contractors.

“A diesel supplier was blocked from entering an estate because a previous contractor had damaged their property and failed to make repairs. This lack of accountability breeds distrust and delays crucial projects,” he explained.

He urged stakeholders to foster better relationships with communities to prevent such conflicts.

Another critical issue Adebayo identified was the unauthorised installation of infrastructure without government approval, leading to inadvertent damage during road construction projects.

“Government agencies often damage unregistered infrastructure simply because they were not documented in official records. Proper approvals and collaboration with authorities will ensure accountability and protection of critical infrastructure,” he noted.

He called for improved industry coordination to resolve these challenges internally before seeking external solutions that are promised by the CNII provisions.

Echoing these concerns, Tony Emoekpere, President of the Association of Telecommunications Companies of Nigeria (ATCON), emphasised the need for standardisation and better coordination among stakeholders.

He pointed out that Nigeria’s infrastructure challenges go beyond technical issues, extending into environmental and moral concerns.

“We are dealing with a moral challenge. An engineer who switched from diesel to gas generators encountered a new problem—workers began stealing engine oil instead, as they could no longer siphon diesel. These issues require both technical and ethical solutions,” he explained.

Emoekpere argued that standardisation is the key to long-term sustainability. “If infrastructure is deployed in a suboptimal manner, failure is inevitable. We need to establish proper standards that all stakeholders—government, private sector, and the public—can align with,” he stated.

He also emphasized that Nigeria has strong policies, such as local content policies, but implementation remains a major challenge. “We must move beyond discussions and focus on actionable steps, follow-ups, and policy enforcement,” he added.

The importance of addressing cable theft and vandalism was further stressed by Wale Owoeye, CEO of Cedarview Communications Limited.

He described the alarming frequency of cable cuts, which disrupt network operations and drive-up maintenance costs.

“Cable theft is a serious issue. Airtel representatives told me they experience a cable cut every six minutes. The assumption that all black cables contain valuable copper leads to reckless vandalism,” he explained.

To combat this growing problem, Owoeye proposed three key approaches, including reorientation, enforcement, and proactive measures.

“We need to engage local communities in their native languages, educating them on the consequences of vandalism. Strict legal penalties, including long-term imprisonment, should be enforced to deter offenders,” he said.

He also emphasised the need for preventive strategies rather than reactive responses. “Prevention is always more effective and cost-efficient than restoration,” he noted.

As a proactive measure, Owoeye proposed the creation of a dedicated fund to support advocacy and awareness campaigns across Nigeria. To demonstrate his commitment, he pledged to contribute N500,000 quarterly as a seed fund and encouraged other industry players to follow suit.

“This is like planting a seed. With collective effort, we can grow it into a sustainable solution for protecting Nigeria’s telecom infrastructure,” he said.

The speakers collectively emphasised that addressing these challenges requires collaboration among industry players, government agencies, and local communities.

They called for a concerted effort to enforce policies, engage stakeholders, and implement practical solutions that will ensure the long-term sustainability of Nigeria’s telecommunication infrastructure.

PenCom: States Should Implement CPS for Pension-secure Nigeria

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The National Pension Commission (PenCom) has called on all states and local governments to implement the Contributory Pension Scheme (CPS) for a pension-secure Nigeria.

The Pension Reform Act (PRA) 2014, in Section 2(1), stipulates that the CPS applies to all public sector employees across the Federation, including the Federal Capital Territory, states, and local governments, as well as the private sector.

However, in line with the 1999 Constitution of the Federal Republic of Nigeria (as amended), state governments have the constitutional right to legislate on pension matters within their jurisdictions. As such, state governments are required to domesticate the CPS by enacting appropriate pension laws within their states.

In August 2006, the National Council of States adopted the CPS for all states and local governments. To support this adoption, PenCom developed a Model State Pension Law, enabling state governments to modify it according to their unique needs. PenCom reviews draft state pension laws and guides states throughout the implementation process.

So far, many states are yet to implement the CPS. For a state to implement the CPS in full, the state is required to enact a law on CPS, establish a Pension Bureau, register its employees with Pension Fund Administrators (PFAs) and commence remittance of pension contributions.

The state is also required to carry out Actuarial Valuation, commence funding of Accrued Pension Rights, procure Group Life Insurance for its employees, and open and fund a Retirement Benefits Bond Redemption Fund Account with the Central Bank of Nigeria (CBN) or PFA.

PenCom commends the following states for their exemplary implementation of the CPS as at 31 December 2024: Lagos, Federal Capital Territory (FCT), Osun, Kaduna, Ekiti, Edo, Ondo, Delta, Benue, Anambra, and Jigawa.

These states have set the benchmark for sustainable pension administration by ensuring that retirees receive their entitlements promptly. They are consistently remitting both employer and employee pension contributions under the CPS. Meanwhile, Jigawa State remits contributions under the Contributory Defined Benefits Scheme (CDBS).

Several states have enacted laws to adopt the CPS but have not yet made significant strides towards implementation. These states include Abia, Adamawa, Bauchi, Bayelsa, Ebonyi, Enugu, Gombe, Imo, Kano, Katsina, Kebbi, Kogi, Nasarawa, Niger, Ogun, Oyo, Rivers, Sokoto, Taraba, and Zamfara. PenCom urges these states to accelerate their efforts toward full implementation of the CPS. This includes the timely remittance of both employer and employee pension contributions. By taking decisive action, these states can align with the pacesetters in ensuring a secure and sustainable retirement scheme for their workforce.

However, PenCom observes that the following states have yet to commence implementation of the CPS: Akwa Ibom, Borno, Kwara, Plateau, Cross River, and Yobe. PenCom strongly encourages these states to expedite the enactment of their CPS laws and take immediate steps toward full implementation to ensure a secure and sustainable pension system for their workforce.

The transition from the Defined Benefits Scheme (DBS) to the CPS at the state and local government levels is both a significant and inevitable step. Even states that have not transitioned will ultimately need to adopt the CPS. The scheme is designed to ensure that all retirees receive their benefits in a timely manner, providing a sustainable and secure retirement for all public sector employees.

The CPS offers a long-term solution to the pension liabilities that many states currently face. By failing to address pension arrears, states are inadvertently creating a financial burden for future generations, as these liabilities will continue to grow. Adopting the CPS now will help states avoid these escalating costs and provide a more secure financial future for both retirees and taxpayers.

Moreover, the CPS ensures fiscal discipline by accurately determining and systematically settling pension obligations while also making funds available at the point of retirement for the prompt payment of benefits. This prevents the accumulation of pension arrears, contributing to the financial stability of the public sector.

PenCom remains steadfast in its commitment to driving nationwide compliance with the CPS. The Commission will continue to engage with non-compliant states, providing necessary guidance, advisory support, and technical expertise to facilitate their transition.

A pension-secure Nigeria is not just a vision but an achievable reality. However, this can only be realised when all states demonstrate commitment by fully embracing the CPS. PenCom remains fully committed to the effective regulation and supervision of the pension industry.

Fidelity Bank Equips Entrepreneurs for Global Trade Success with EMP 18

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L-R: Prof Frank Ojadi, Director, Export Management Program, Lagos Business School; Stella Nwuke, Team Member, Export & Agriculture Division, Fidelity Bank Plc; Emem Bassy, Managing Partner, Peony Dynamic Resource Limited; and Emmanuel Nwalor, Team Lead, Export & Agriculture Division, Fidelity Bank Plc; at the closing ceremony of the 18th edition of the Fidelity Bank Export Management Programme (EMP 18) held at the Lagos Business School recently.

Tier-one lender, Fidelity Bank Plc, has once again highlighted the importance of promoting non-oil exports as it recently hosted the 18th edition of its dedicated capacity development training tagged Export Management Programme (EMP 18).

The programme, which was held recently in Lagos provided a platform for entrepreneurs interested in exploring global trade opportunities to scale and acquire relevant expertise.

Hosted in partnership with the Lagos Business School (LBS), the 5-day intensive program focused on equipping entrepreneurs with the skills and knowledge needed to explore international market opportunities and strengthen their capacity to thrive in the export sector.

“At Fidelity Bank, our strategy to enhance non-oil exports is guided by the significant opportunities it offers to our customers and the national economy. This is why we offer a comprehensive suite of financial, advisory, and market-access solutions for businesses aiming to engage in international trade.

“Our market-access initiative, EMP, launched in 2016, has trained over 1,600 entrepreneurs. Today, we completed the 18th cohort with high-caliber participants and a 150% oversubscription. This indicates a promising future for Nigeria’s non-oil exports,” explained Isaiah Ndukwe, Divisional Head of Export and Agriculture at Fidelity Bank Plc.

Facilitated by key industry experts in the exports space, EMP 18 took participants through several sessions focused on critical areas in global trade such as Export Finance Instruments, Export Documentation, Accessibility of Export Markets, amongst others.

A key feature of the training was a facility tour of one of Nigeria’s busiest Export Processing Terminals (EPT) located in Ikorodu, Lagos State. The full-day visit, which was anchored by officials of the Nigerian Customs Service (NCS), gave participants a first-hand feel of the necessary procedure and requirements for securing regulatory approval for exporting from Nigeria.

One of the program participants, Patrick Ulayi Awu-Patricks, Managing Director/Chief Executive Officer, Alliance & Frontier Limited, commended Fidelity Bank for its leadership in deploying capacity-building initiatives in the non-oil exports sector.

In a discussion with journalists, he stated that EMP 18 provided invaluable exposure to the opportunities in the export business noting that, “there are lots of non-oil exports opportunities and entrepreneurs must be able to identify and capitalise on these to be able to play effectively in the international trade space. This course has given me insights into the power of data which is essential for strategic decision-making.”

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 8.5 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the Export Finance Bank of the Year at the 2023 BusinessDay Awards; the Banks and Other Financial Institutions (BAFI) Awards; Best Payment Solution Provider Nigeria 2023; and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards.

It was also recognised as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023 and the Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

 

 

NGX Group, CBN, MinieMoney Equips 200 Students with Financial Literacy During Global Money Week

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Nigerian Exchange Group (NGX Group), in collaboration with the Central Bank of Nigeria (CBN) and MinieMoney, empowered over 200 students with essential financial literacy skills as part of the 2025 Global Money Week celebration.

This initiative underscores a shared commitment to fostering financial inclusion and equipping young Nigerians with the knowledge required for long-term financial well-being.

The event convened students from leading schools, including Vivian Fowler Memorial College for Girls, Dansol High School, Kith and Kin Educational Schools, Caleb British International School, Lagos Preparatory and Secondary School, and The Bells Comprehensive Secondary School. Participants engaged in insightful discussions on financial literacy, investment strategies, and capital market operations, with the added opportunity to experience firsthand the dynamics of the NGX trading floor.

Now in its 13th edition, Global Money Week is a global initiative designed to promote financial education among young people, ensuring they develop the critical thinking skills needed to make informed financial decisions. The 2025 theme, “Think Before You Follow, Wise Money Tomorrow,” reinforces the importance of strategic financial planning from an early age.

Speaking at the event, Mr. Abimbola Babalola, Head of Trading and Products at NGX, highlighted the transformative power of financial literacy in shaping students’ futures. “The financial choices you make today will determine the quality of your life tomorrow. Understanding saving, investing, and responsible money management early on will put you on the path to financial success,” he stated.

Christian Mordi, Assistant Director of the Consumer Protection Department at CBN, introduced the CBN’s ‘Sabi Money’ platform, designed to enhance financial education nationwide. “Financial literacy extends beyond numbers; it is about developing discipline, patience, and informed decision-making skills that foster economic security,” he noted.

Gbolahan Faniran, CEO of MinieMoney, emphasized the importance of early investment habits and leveraging the power of compound interest. “Achieving financial success is not about following trends but about making intentional money choices today that ensure a secure future,” he said.

Beyond this event, NGX Group continues to champion financial literacy through strategic initiatives, including its X-Academy, which provides tailored financial education programs, and the NGX StockTown, a comic book series designed to educate young people through engaging storytelling.

Through partnerships like these, NGX Group remain steadfast in its commitment to raising a generation of financially literate and empowered individuals. By equipping students with essential financial knowledge today, the initiative lays the foundation for informed decision-making and long-term wealth creation, ensuring a more financially inclusive future.

 

 

28th EDITION EVALUATE PR: The Intersection of PR and Global Politics: Managing Reputation in Uncertain Times

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P+ Measurement Services, Nigeria’s foremost media intelligence and communications measurement agency, proudly announces the 28th edition of its highly anticipated virtual event, EVALUATE PR.

This insightful session will take place on March 28, 2025, from 12:00 p.m. to 1:30 p.m. (WAT) via Google Meet and will explore the theme: “Global Affairs & Market Trends: Understanding the Bigger Picture for Smarter PR.”

The global public relations landscape is rapidly evolving, influenced by geopolitical shifts, economic dynamics, and regulatory changes. This event aims to equip PR and communication professionals with the knowledge to navigate these transformations, enabling them to craft smarter, more adaptable, and ethically sound communication strategies.

EVALUATE PR 28 will feature a distinguished panel of thought leaders and industry practitioners, including Olaotan Fawehinmi, Head of PR and Communications (Energy Storage Division) at Transsion Holdings; Maya Koleva, Director of Research and Insights at Commetric and Director of the International Board of Directors at AMEC; Kenneth Adejumoh, Corporate Communications Manager at Nosak Group; and Stanley Nwadialor, who will moderate the session from P+ Measurement Services. These accomplished experts will share invaluable insights on how global affairs and market trends shape public relations, providing PR professionals with strategies to remain agile and impactful in today’s interconnected world.

By participating in this exclusive session, attendees will gain a global perspective on the impact of geopolitical shifts and market trends on PR strategies. They will receive insights into emerging market dynamics and their influence on public perception and brand reputation.

The session will also cover strategic alignment with international regulatory changes and evolving consumer expectations, as well as ethical communication techniques to enhance credibility while managing sensitive information in a rapidly evolving media environment.

This session is a must-attend for PR professionals looking to adapt to global affairs, leverage market trends, and maintain ethical communication practices in a constantly evolving industry. Mark your calendar for March 28, 2025, and be part of this insightful discussion. Join the session via Google Meet: https://meet.google.com/bmw-qjea-pft.

P+ Measurement Services is Nigeria’s leading independent media intelligence, measurement and evaluation agency. The firm is committed to delivering actionable insights, enabling brands to achieve strategic goals through data-driven media intelligence and PR measurement solutions.

Polaris Bank Champions Accelerating Action at IWD Seminar

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Cross Section of Secondary School Students who attended Polaris Bank’s IWD Seminar held in Lagos.

Polaris Bank has reaffirmed its commitment to gender equality and women’s empowerment through its International Women’s Day (IWD) Seminar, themed: “Accelerating Action: Breaking Barriers & Creating Equal Opportunities.”

The event provided a platform for thought leaders, professionals, and advocates to emphasize the urgent need to accelerate action towards gender equality by breaking barriers and creating equal opportunities for women across all sectors.

Speaking at the event, Polaris Bank’s Executive Director, Mrs. Abimbola Ozomah conveyed greetings from the Managing Director/CEO, Management, and Staff of the Bank, highlighting the importance of the day. “International Women’s Day is a moment to recognise the remarkable achievements, contributions, and struggles of women throughout history and across all sectors of society. However, it is also a call to action. This year’s theme, ‘Accelerate Action,’ urges us to take swift and decisive steps toward achieving gender equality by breaking down systemic barriers and biases that hinder women’s progress.”

Reinforcing Polaris Bank’s commitment to gender inclusivity, Mrs. Ozomah, stated: “At Polaris Bank, we believe that real progress happens when organizations go beyond conversation and actively implement policies that support women’s growth. Empowering women and ensuring their inclusion in every sphere of society, is at the core of our values. This seminar is part of our broader mission to create an inclusive and equitable society for all.”

The seminar featured an insightful conversation with industry experts who shared practical strategies for overcoming systemic barriers, fostering leadership opportunities, and enhancing financial inclusion for women.

In her experience sharing session, Ayaba M. Ayo-Joseph, a Non-Executive Director with Polaris Bank, advocated that women should be supportive of each other, stating, “we as women should help each other and not bring each other down. These efforts should not be restricted to just International Women’s Day or a day just in March. This should be practiced all the time. She also shared 8 Ways to Accelerate Action for women’s empowerment.

Economic independence for women, stepping out into leadership roles as we need more women in leadership positions, advocating for gender-friendly workspaces, being a mentor to uplift others, practicing self-care, creating safe spaces for women, collaborating with other women to build strength in unity, and being digitally savvy to leverage technology for growth.

She concluded her session with a powerful reminder to womenfolk saying: “The change we wish to see starts with us. Let’s keep pushing the boundaries and support each other as we go.”

Mrs. Subulade Giwa-Amu, a Non-Executive Director, Polaris Bank, stated the role of character and purpose in achieving success, saying, “Success is built on character, resilience, and purpose. Challenges will arise, but integrity is the key to overcoming them.” She also highlighted the importance of financial independence and self-investment, adding, “Financial independence starts with vision and focus. Work-life balance is essential, but prioritization is crucial at different stages of life.”

She further advised women to continuously invest in themselves, saying, “Invest in yourself, continuous learning and personal growth are non-negotiable for success.” Speaking on women’s empowerment, she urged collaboration over competition: “There is room for everyone at the top. Women must support and uplift each other, rather than compete unnecessarily.”

Tolulope Makinwa-Adeniyi, Executive Director, Muazu Africa, reiterated the power of relationships and personal development: “Relationships are invaluable. Express admiration, nurture connections, and build a network that will open doors for you.” She also encouraged personal growth, saying, “Do the hard things, growth comes from embracing challenges, stepping out of comfort zones, and pushing beyond limitations.”

She further stressed the importance of Mastery, stating, “Mastery is power. Stay ahead by continuously upgrading your skills, embracing new technologies, and refining your expertise.” Calling for a mindset shift, especially amongst the school girls from the five selected schools in Lagos state present at the event. She remarked: “The ‘Cinderella Complex’ must end—women don’t need to be saved; they need to take charge of their own destinies.”

Ndidi Ukaonu, MD/CEO of Parthian Partners, called for action over conversation: “It’s time to move beyond discussions about gender equality and start implementing real change.” She encouraged individuals to define their impact and take ownership of their success, challenging them to ask, “What am I known for? What legacy am I building? How am I contributing to change?”

She also reinforced the need for confidence and taking initiative, saying, “Stop waiting for permission to be great—own your power and walk in it.” Closing with a rallying call, she urged participants to, “Accelerate action, break barriers, and create opportunities. The world is waiting for you to step up. The time is now.”

Polaris Bank remains steadfast in its mission to drive change, ensuring that women are not only heard but also empowered to lead.

 

Symphony for Sovereign Trust Insurance @ 30!

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“The journey of a thousand miles they say begins with a step.”

No matter how rough that journey might be, the dogged and focused ones never lose sight of where they are headed; they keep forging ahead, reinventing the wheels over and over again.

This best describes the journey that one of Nigeria’s budding underwriting firms embarked upon some 30 years ago when it made its debut entry into the Nigerian insurance landscape after metamorphosing from the then Grand Union Assurances Limited on January 2, 1995.

Since then, it has been a journey of hope, foresight and forthrightness never minding the setbacks it encountered along the way.

Sovereign Trust Insurance Plc has clearly shown that a vision well-thought out will definitely stand the test of time. The company continues to forge ahead even at a period when a number of bookmakers prophesied doom for the Insurance Industry in the country.

30 years down the line, the Brand keeps waxing stronger by the day just as it has earned for itself a place of pride amongst the comity of insurance companies in the country.  Sovereign Trust Insurance Plc continues to run with a futuristic vision of wanting “to be a leading brand, providing insurance and financial services of global standards”. In truth and indeed, the company has recorded a lot of pioneering initiatives yet to be rivaled by other competitors in the insurance industry in Nigeria over the years.

Undoubtedly, the company has established an indelible footprint in the insurance industry as one of the lead underwriters for most of the major oil and gas projects in the country with an ever-growing profile year in, year out.

One very critical area the company has placed much emphasis on is in developing a versatile and well-qualified workforce; unarguably, one of the most prolific insurance companies in the country with a very dynamic and well-articulated workforce comprising of varied and highly skilled professionals who are constantly exposed to human capacity building. Brand experts see this development as a major plus for the organisation, knowing full well that the quality of any workforce will ultimately determine the performance level of that organisation. This became evidently clear in the financial results of the underwriting firm in the last couple of years as it has constantly surpassed its targets on a year-on-year basis and even more, the company declared dividends to its shareholders at the 29th edition of its Annual General Meeting.

In 2022, the company moved from A stable rating to A (NG) positive rating based on the organization’s new financial position and sound capitalization supported by good earnings generation and retention. “Our continued success over the years saw the company’s performance ranked among top players in the insurance industry in the country.”

The considerations for the rating amongst others were based on the company’s sizeable capital base, sound internal capital generation, healthy investment returns, foreign exchange gains and a strong liquidity profile backed by a conservative assets’ allocation strategy.

To date, the company has presence in Lagos with Area offices in Surulere, Ikeja and Lagos Central with the Head office on Victoria Island. Other cities include, Akure, Enugu, Ibadan, Kaduna, Port Harcourt and the Federal Capital Territory, Abuja.

As a transiting world-class organization conscious of its brand equity, the company has a well-entrenched culture of upholding sound moral and professional ethics beyond profit. From inception, the company has significantly shown upward progression in every area of its operations making it one of the fastest growing and upwardly mobile insurance companies in the country.

As a brand, the organisation has in the last couple of years recorded remarkable successes in CSR initiatives and top-notch events in the country. It still remains the only Insurance brand that has endorsed an award category for insurance correspondents in Nigeria in perpetuity. The Diamond Award for Media Excellence, (DAME) for the best Insurance Reporter of the Year.

The first ever International Jazz Festival in Nigeria was sponsored by the company in 2008 tagged the Lagos International Jazz Festival fashioned after the Cape Town Jazz Festival held in South Africa on an annual basis. Till date, the company is the only Insurance Company that has ever undertaken an all-expense paid trip for soccer loving Nigerians to an international football competition when it sponsored some Nigerians to the 2008 African Cup of Nations in Accra, Ghana just as it was the official Insurer for the Nigerian Contingent to the All-African Games in Algiers, Algeria in 2007. The company just recently held the 8th edition of its eponymous golf tournament at the Ibadan Golf Club where Desmond Mathew of Ikoyi Club 1938 won the coveted trophy of the tournament. The company was also one of the sponsors at the just concluded one week golf tournament at the Ikeja golf club from March 17-22, 2025. Indeed, Sovereign Trust Insurance Plc has carved a niche for itself with the golfers’ community in Nigeria.

The company’s CSR platform is hinged on 3 major pillars of Health, Sports and the Environment, HSE. Sovereign Trust Insurance Plc has been one of the active promoters of the Go-Green agenda of the Lagos State Government since 2009 when it revamped the dilapidated Shitta Roundabout in Surulere and just last year, it acquired another park at Kodesoh Street in Ikeja, Lagos.

In the area of support for the Arts, the company remains part of the success story of the multi-award winning film, October 1, produced by one of Nigeria’s ace Movie Makers, Kunle Afolayan. The company also supported the award-winning Stage Drama, ‘KAKADU THE MUSICAL which later won laurels both at the local and international level.

Regarding its support for the Health Sector, the company has over the years amongst other initiatives been partnering with a Non-Governmental Organization, Atinuke Cancer Foundation in creating awareness amongst Nigerians in combating the deadly cancer disease.

The company has to its name series of corporate awards and appreciation plaques for its contributions to various developmental projects and initiatives across the country.

For Sovereign Trust Insurance Plc, the journey has just begun and the insurance industry is set to witness a new and more innovative way of doing insurance business in Nigeria in another 30 years to come and beyond.

 

By Segun Bankole

DGM, Corporate Communications & Investor Relations

Sovereign Trust Insurance Plc

 

 

NLNG to Improve Operational Efficiency of Domestic LPG Supply in Nigeria

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In line with its continuous improvement culture, NLNG has committed to working closely with its stakeholders to improve operational efficiency in its domestic Liquefied Petroleum Gas (DLPG) supply to the country.

At an engagement session recently with stakeholders in Lagos, NLNG highlighted its plans to enhance engagement and improve operational efficiency of its LPG supply through digitalisation of some of its processes which include a new platform designed to streamline regulatory processes, optimise risk management, and enhance the buyer experience.

The platform will feature IT-supported relationship management, automated issue resolution, centralised real-time payments, and improved case management systems, ensuring a seamless supply process despite market shifts and external pressures.

Speaking at the session, Tolulope Longe, Manager, Commercial Contract Management, reiterated that the planned improvements will enable and consolidate NLNG’s resolve to delivering 100% of its LPG supply to the Nigerian market.

She said a strategic roadmap was in play to ensure the achievement of NLNG’s longstanding goals of LPG being accessible and available in the country, aligning with its vision of being a globally competitive energy company, improving lives sustainably.

She also harped on the significance of these improvement initiatives and the Company’s push for LPG utilisation as a clean energy source alternative to kerosene and other fossil fuels.

Longe noted that the Company remained focused on growth and sustainability of the LPG market by continuously enhancing its supply processes in collaboration with offtakers.

She stressed NLNG’s commitment to collaborating with stakeholders to maintain pricing stability and long-term market viability. While acknowledging industry concerns, she noted the importance of operational efficiency in meeting market demands.

NLNG aims to strengthen stakeholder engagement and improve market efficiency in the LPG sector through enhanced customer interactions, minimised schedule disruptions, timely confirmations and deliveries, and prioritisation of customers with demonstrable capacity.

As it adapts to market realities, NLNG remains committed to driving sustainability and delivering lasting value to Nigerians.

 

Hersurred by Leadway Celebrates One Year of Empowering Women

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Leadway Group, one of Nigeria’s leading non-banking financial services providers, has reaffirmed its commitment to honouring and empowering women by celebrating the first anniversary of its women’s community, Hersurred.

Since the launch of this women-focused initiative in 2024, Hersurred has been dedicated to equipping women with the essential information, tools, and networks needed to thrive.

The anniversary theme, “Here for Her,” celebrates the achievements of every woman and provides an opportunity for women to connect, access mentorship, gather information, and take the necessary steps to accelerate efforts toward closing existing gaps in women’s empowerment.

Building on the inaugural event’s success, which featured a keynote speaker from the Leadway Group, the 2025 edition emphasises the organisation’s strong commitment to women’s empowerment and inclusion.

The event featured distinguished women from various sectors, including government, finance, oil and gas, and insurance, who shared their expertise and experiences in diversity, equity, inclusion, and women’s empowerment. The feature aligns with Hersurred’s aim to comprehensively strengthen advocacy for women and outline strategic action plans to amplify female voices.

This year’s discussion was divided into two parts. The first was a fireside chat focused on solidifying the gains of women’s advocacy through policy formulation. It featured Tejumola Abisoye, a renowned development expert, and Yemisi Rotimi, the Chief Finance Officer of Leadway Group, who anchored the discussion.

The second session featured a roundtable discussion with leading women leaders to speak on the theme, “Beyond the Manifesto: Turning Advocacy into Action.”

The speakers include Mrs. Kunbi Adeoti, Leadway’s Chief People Experience Officer; Engr. Chichi Emenike, the Managing Director and Gas Asset Manager of Neconde Energy; ⁠Oluwatosin Olaseinde, the Founder/ CEO of Money Africa; with Rahinatu Omolamai, Team Lead, Relationship Management, High Networth Individuals, Leadway Pensure, moderating the session.

Speaking at the event, Kunbi Adeoti, Chief People Experience Officer, Leadway Group, stated, “At Leadway Group, we are dedicated to cultivating a dynamic and inclusive community where diversity is valued, and everyone has the opportunity to flourish. Our mission is to nurture a culture of belonging, empowerment, and growth, enabling individuals to reach their full potential.”

She added: “Through Hersurred, we aspire to reach women from various industries and walks of life, sharing their inspiring journeys, the challenges they have overcome, and the triumphs that have defined their paths. Our goal is to spark meaningful dialogue and empower women to succeed. This year’s edition will emphasise the importance of building communities of shared interest, collaborating for opportunities, networking, and celebrating achievements.”

Yemisi Rotimi, Chief Finance Officer of Leadway Assurance, also shared her thoughts on the initiative: “Empowering women is about creating an environment where they have equal access to opportunities, leadership roles, and platforms to make a meaningful impact.

Hersurred is a movement that ensures women are seen, heard, and equipped with the resources to shatter glass ceilings, thrive, and shape the future they envision. We are proud to champion this initiative and are fully committed to elevating it to even greater heights.”

Hersurred is an initiative by the Leadway Group to empower women in Nigeria through mentorship, networking, collaboration and educational opportunities. This initiative aims to nurture a community that allows women to develop, learn, and excel personally and professionally.

 

About Hersurred by Leadway

Leadway Hersurred is an initiative launched by Leadway Group in 2024 to address the specific needs of women. This initiative provides a community where women can learn new skills, share experiences, and access resources to support their personal and professional development.

 

About Leadway Group  

Leadway Group is a premier Nigerian non-banking financial services conglomerate founded by Leadway Assurance Company Limited, a leading insurance provider in Nigeria.

It offers a wide range of financial services, including insurance (life and non-life), pension fund administration, health management, and asset management.

Unity Bank Appoints Ebenezer Kolawole as Acting MD/CEO

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The Board of Unity Bank Plc has announced the appointment of Mr. Ebenezer Kolawole (FCA) as the Acting Managing Director/Chief Executive Officer following the retirement of Mrs. Oluwatomi Somefun who has completed her tenure as MD/CEO.

The appointment was announced at the Bank’s 18th Annual General Meeting (AGM), held in Lagos on Wednesday after securing necessary approval from its primary regulator, the Central Bank of Nigeria (CBN).

Mr. Kolawole is a seasoned and consummate Banker with over three decades of industry experience. He began his financial services career at Caribbean Finance Limited (an affiliate of CFL in Cayman Island) in Kaduna in 1992.

He later joined Ecobank where he worked in various departments of the Bank, both Operations and Finance suites and rose to the position of Deputy Financial Controller. He moved to Standard Trust Bank (STB) and worked at various strategic areas including Operations, Regulatory Risk Management and Finance suites and played a pivotal role in the STB/UBA merger. Post-merger, he served as Chief Financial Officer (CFO) of the United Bank for Africa.

He moved to Mainstreet Bank as the Bank’s Group Chief Finance Officer (GCFO) and actively drove the turnaround and transformation initiatives of the Bank. He had a brief stint at Globacom, a foremost and Nigeria’s leading Indigenous Telecommunication giant, where he served in various capacities for corporate business development.

Mr. Kolawole joined Unity Bank Plc as Chief Financial Officer (CFO) in 2015. He was later, in February 2018, appointed the Executive Director to oversee Finance, Operations and Information Technology, where he played a key role in the Bank’s strategic transformation and cost optimisation initiatives which enhanced the Bank’s performance and market feasibility.

In line with the Bank’s succession and business continuity plans, Mr. Kolawole is saddled with the primary responsibility of finalizing the Bank’s ongoing corporate programmes and other strategic business initiatives of the institution.

Mr. Kolawole holds a First-Class (Hons) Degree in Accounting from Obafemi Awolowo University (OAU), Ile-Ife. He has participated in several management/executive education programmes at Columbia Business School, New York, USA and The Wharton School of the University of Pennsylvania, Philadelphia, USA.

Mr. Kolawole is a member of several professional bodies including a Fellow of The Institute of Chartered Accountants of Nigeria (FCA); a Fellow of the Institute of Credit Administration, (FICA), an Honorary Member of the Chartered Institute of Bankers of Nigeria (HCIB), Associate Member of The Nigeria Institute of Management (AMNIM); Member of the Institute of Directors etc.

Leadway Health HMO Champions Women’s Health in Celebration of Int Women’s Month

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In recognition of International Women’s Month this March, Leadway Health HMO has reinforced its commitment to women’s health by launching a series of impactful initiatives designed to promote wellness, preventive care, and accessibility to quality healthcare services for women.

Leadway Health HMO’s commitment is borne out of the need to address the often-neglected health needs of women which are further complicated by societal and economic constraints in their roles within families, communities, and workplaces.

The organisation is determined to change this narrative by prioritising preventive healthcare, raising awareness about key health concerns, and ensuring that women have access to affordable and comprehensive medical services.

Commenting on the initiatives outlined for commemorating Women’s Month, MD/CEO, Leadway Health HMO, Dr. Tokunbo Alli said:

“At Leadway Health HMO, we recognise that women’s health is the foundation of a thriving society. This International Women’s Month, we are taking proactive steps to empower women with the knowledge, resources, and access they need to prioritise their well-being.”

“This initiative is more than just a campaign; it is a call to action for women to make their health a priority. Through education, accessibility, and affordability, we hope to inspire a culture of proactive and preventive healthcare among Nigerian women,” added Tokunbo.

Building on this commitment, Leadway Health HMO is rolling out several impactful initiatives to promote women’s health. Throughout March, Leadway Health HMO will offer complimentary health screenings for critical health conditions, including breast cancer, cervical and ovarian cancer as well as hormonal panels, with a special focus on raising awareness and early detection for women.

In addition to the tests, there will also be fitness sessions and targeted webinars addressing pressing women’s health concerns. Key topics include reproductive health, maternal health, Polycystic Ovary Syndrome (PCOS), endometriosis, fibroids, menstrual disorders, and work-life balance.

By providing a platform for open dialogue and expert guidance, these webinars and health talks will equip women with the knowledge and confidence to take charge of their health.

As part of our commitment to advancing healthcare solutions, Leadway Health HMO is also introducing new technologies. An example is the incisionless uterine fibroid treatment, a groundbreaking alternative to traditional surgery. This cutting-edge treatment offers women a safer, less invasive option for managing fibroids, ensuring quicker recovery and improved quality of life.

To highlight this innovation, we will be hosting a special webinar on World Health Day (April 7th), bringing together leading medical experts from all over the world to discuss the benefits of incisionless fibroid treatment and other advancements in women’s healthcare. This session will provide valuable insights for women seeking alternative solutions and reaffirm our dedication to ensuring access to world-class medical care.

Organisations partnered with in the execution of the women’s month campaign include Airtel Nigeria, British American Tobacco, Dangote Cement, Jaiz Bank, Food Concepts, Lakeshore Cancer Center, Advans Lafayette MFB among others.

Leadway Health HMO remains committed in its mission to bridge the healthcare gap by offering sustainable health solutions that empower women to live healthier, longer, and more fulfilling lives.

 

About Leadway Health HMO

Leadway Health HMO is a leading health maintenance organisation in Nigeria, committed to delivering innovative, affordable, and high-quality healthcare solutions.

With a focus on preventive care, customer-centric services, and strategic partnerships, Leadway Health HMO continues to improve access to quality healthcare for individuals, families and businesses across the nation.

 

Zuriel Oduwole, Sterling One Foundation, Sanwo-Olu Harp on Gender Equality, Youth Empowerment

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L-R: Moyo Akinyosoye, Business Executive, Institutional Banking, Sterling Bank; Zuriel Oduwole, Youth Envoy/Nobel Peace Prize Nominee; Babajide Sanwo-Olu, Executive Governor, Lagos State; Olapeju Ibekwe, CEO, Sterling One Foundation; and Ifeoluwa Elegbede, Communication Lead, Sterling One Foundation, during a courtesy visit to the Lagos State Governor’s Office to discuss youth empowerment, gender equality, and the need for sustained action in creating opportunities for young leaders. 

Nobel Peace Prize nominee Zuriel Oduwole and Sterling One Foundation have emphasised the need for gender equality and youth empowerment during a courtesy visit to the Lagos State Governor’s Office, where discussions focused on sustained action in creating opportunities for young leaders.

At just 22 years old, Oduwole is the youngest Nigerian ever nominated for the Nobel Peace Prize and the first to be recognised in this category. Her global advocacy in education, gender equality, and youth inclusion has influenced policies and engaged key decision-makers across multiple countries.

Sterling One Foundation, through its investment in social impact across critical sectors, has mainstreamed gender equality and women’s empowerment across all its initiatives, ensuring that young women and girls have access to the resources, platforms, and opportunities needed to thrive.

Speaking on the Foundation’s commitment to gender equality and women empowerment, Olapeju Ibekwe, CEO, Sterling One Foundation, highlighted the importance of telling African stories and driving impact through intentional programming, while also reflecting on this year’s International Women’s Day theme, Accelerate Action.

“At Sterling One Foundation, we are intentional about telling African stories that reflect the strength and potential of our people. This is evident in our focus areas and programming, where we have deliberately mainstreamed gender equality and women’s empowerment.

This aligns with the call to ‘Accelerate Action’ this International Women’s Day, reinforcing the urgency of breaking barriers for women and girls.

We are proud of Zuriel Oduwole for amplifying these values on the global stage, and we remain committed to creating an environment where young changemakers, especially women and girls, have the support and opportunities they need to lead and succeed.”

During the visit, Governor Babajide Sanwo-Olu recognised Oduwole’s contributions and her historic Nobel Peace Prize nomination, describing it as a milestone for Nigeria and the African continent.

“This achievement reflects the resilience and determination of our people. In the past five years, we have faced COVID-19, economic challenges, and instability, yet we have continued to create opportunities for young Nigerians in technology, finance, and entertainment.

The THEMES Plus agenda reinforces our commitment to inclusion and youth empowerment. Lagos is proud to support Zuriel’s journey and work with the Sterling One Foundation to expand opportunities for the next generation.”

Oduwole also emphasised the power of storytelling in driving social change:

“I have seen the power of storytelling in changing perceptions and opening doors for young people. When we share our stories, we inspire action. I am grateful to our partners for amplifying young voices and creating opportunities that make a real difference.”

Her remarks highlight the role of storytelling in influencing narratives that drive meaningful change. By amplifying diverse voices and ensuring that young people, especially women and girls, have platforms to be heard, storytelling becomes a powerful tool for influencing policies, shifting mindsets, and creating lasting impact in communities. The need for sustained efforts to support and invest in these platforms has never been more critical.

The Sterling One Foundation remains committed to driving sustainable change through strategic interventions that create lasting impact in gender equality, youth empowerment, and social development

 

About Sterling One Foundation

Sterling One Foundation (SOF) is a registered non-profit focused on tackling the root causes of poverty in Nigeria, and Africa through interventions and social impact programmes across five critical sectors namely: climate action, health, education and youth development, gender equality and empowerment, and food security.

The Foundation’s programmes adopt a central theme of prioritizing partnerships for the achievement of the Sustainable Development Goals (SDGs).

AIICO Insurance Most Preferred Annuity Manager – Annuitants

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AIICO Insurance Plc’s customers have declared the company as the most preferred annuity business manager in the country as it ensures their financial stability and welfare through prompt and improved annuity payment despite the intense economic headwinds and unabating inflationary pressure in the country.

The company currently disburses a staggering N1.5 billion monthly to these annuitants, providing them with guaranteed income for their retirement years. Total disbursement to the annuitants stands at a whopping 68.2 billion between 2019 and 2024.

AIICO’s commitment to financial security goes beyond offering products. The company fosters a growing community of financially empowered individuals, evident in the continuous rise in its annuity customer base. This growth is fuelled, not only by new customer acquisition but also by the trust and positive experiences of existing policy holders, who have referred friends and family to the product.

Speaking on the reliable and financially secure annuity product offered by AIICO, Chief A. A. Iguoba, President, Retired Customs Officers Association of Nigeria, commended the company for the unique and value-packed product.

“I first heard about AIICO’s annuity product through friends in the early 2000s and signed up in 2014. Over the years, AIICO has proven to be a reliable partner, with a strong track record and a consistent payment system that ensures financial stability in retirement. This trust has led us, at the Retired Customs Officers Association of Nigeria, to not only introduce fellow retirees to AIICO but also engage actively serving officers, encouraging them to secure their future with AIICO’s annuity plan”, he said.

Mrs. Imelda Anyanwu, another customer stated: “I have been on AIICO’s annuity plan for 12 years since retiring from Union Bank, and my experience has been exceptional. I chose AIICO based on a strong recommendation, and it has proven to be the right decision. Beyond the consistency and timeliness of payments, what truly stands out is the human touch – the warmth, responsiveness, and professionalism of AIICO’s staff. They are always ready to provide support, making the experience seamless and reassuring. I have no regrets; AIICO has been a reliable partner in my retirement journey.”

AIICO’s Executive Director and Head of Retail Business, Mr. Gbenga Ilori, said: “At AIICO, we understand the importance of financial stability, especially during retirement. Our annuity product is designed to address this very need, offering our customers peace of mind with guaranteed monthly payouts for life. We are proud to be a part of their financial journey.”

Mr. Ilori stated further: “We are confident that the annuity market holds immense potential, and we are well-positioned to capitalise on this growth. Our robust financial standing and exceptional customer service ensure that our annuity policyholders receive, not only a guaranteed income, but also peace of mind throughout their retirement life.”

AIICO’s commitment to its annuity business extends beyond its existing customer base. Over the years, the company has strategically expanded its reach through acquisitions, including the annuity portfolios of Royal Exchange Assurance and Tangerine Africa. Since then, customers from these portfolios have seamlessly integrated into the AIICO family, benefiting from consistent payouts and the company’s unwavering commitment to financial security. These acquisitions have further strengthened AIICO’s footprint and legacy in the annuity business, reinforcing its position as a trusted provider of retirement solutions.

As part of its commitment to customer care, AIICO Insurance hosts an annual Annuitants’ Forum – an interactive platform designed to stay connected with its policyholders beyond just transactions. This forum serves as an opportunity for AIICO to engage directly with annuitants, listen to their experiences, address their concerns, and reaffirm its dedication to their financial well-being.

By fostering open dialogue and meaningful interactions, AIICO ensures that those who have entrusted the company with their retirement security continue to feel valued, heard, and supported every step of the way.

For over 60 years, AIICO Insurance Plc has been a trusted name in the insurance industry, helping Nigerians secure their futures with reliable and innovative financial solutions. As one of the largest and most stable insurance companies in the country, AIICO is the perfect partner for retirement planning. With a strong growth in written premium of ₦110 billion in 2023, consistent profitability, and a prompt claims payout of ₦46.5 billion, AIICO has earned the trust and loyalty of its customers.

This financial strength and stability provide a solid foundation for its annuity business, giving retirees the confidence to sign up and stay with AIICO. With a steadfast commitment to best practices, AIICO ensures that every annuity plan is safe, secure, and designed to provide long-term financial peace of mind.

£15bn Petro Union Fraud: Attorney-General of the Federation Steps In

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In a significant move to safeguard Nigeria from potential fraud, the Attorney-General of the Federation and Minister of Justice, Chief Lateef Fagbemi (SAN) has led a team of senior lawyers to represent the Federal Government at a Supreme Court hearing over the Petro Union Oil and Gas Limited case.

The development marks the first time the Federal Government was represented at such a high level since the little-known company secured a judgment from the Federal High Court in Abuja for £2.556 billion.

However, the Economic and Financial Crimes Commission (EFCC) had concluded in its investigation report that Petro Union obtained the judgment by allegedly using a Barclays Bank UK cheque to draw from an account closed five years before it was presented.

The anti-graft agency’s finding led to the ongoing prosecution of the oil company’s directors before the Federal High Court in Lagos.

The directors, Prince Kingsley Okpala, Prince Chidi Okpalaeze, Prince Emmanuel Okpalaeze, and Abayomi Kukoyi (trading as Gladstone Kukoyi & Associates), are facing a 13-count charge of conspiracy, forgery, and fraud before Justice Chukwujekwu Aneke.

Chief Fagbemi’s appearance in the controversial case is particularly notable because it demonstrates the Federal Government’s resolve to fight the March 11, 2014, court order, which directed the Central Bank of Nigeria (CBN), Union Bank of Nigeria, the Minister of Finance, and the Attorney-General to jointly pay Petro Union the judgment amount along with 15 per cent interest per annum.

During the March 17, 2025 proceedings, Chief Fagbemi led a team of lawyers, including Mohammed Gazali (SAN), a Director in the Federal Ministry of Justice, and other lawyers representing the Federal Government and its agencies.

Chief Adegboyega Awomolo (SAN) led the legal team for Union Bank, while the CBN’s legal representation was headed by Damian Dodo (SAN) alongside Mrs. Olabisi Soyebo (SAN) and others.

Chief Awomolo argued an application to amend the Notice of Appeal by adding eight additional Grounds of Appeal.

While the AGF and the CBN’s lawyers supported the motion, Petro Union’s legal team opposed it.

After listening to arguments on the matter from the lawyers, the Supreme Court reserved its ruling for a later date to be communicated to the parties.

The judgment sum against the Federal Government, CBN, and Union Bank now stands at over £15 billion, including interest—exceeding 50% of Nigeria’s foreign reserves.

Legal experts have compared this situation to the infamous $10 billion Process and Industrial Development (P&ID) case.

The troubling events leading to this judgment began in 1994 when Petro Union allegedly fraudulently obtained a cheque worth £2.556 billion from a Barclays Bank branch in the UK.

The company presented this cheque at a Union Bank branch in Lagos, claiming it was for a contract related to refinery construction and the establishment of a bank.

Subsequent investigations by the CBN and Union Bank unveiled that the cheque, dated December 29, 1994, and drawn in favour of Gladstone Kukoyi & Associates, was confirmed by Barclays Bank to be counterfeit.

Barclays Bank had also indicated that Gazeaft Limited, the issuer of the bill of exchange, did not have an account with them and was not listed as a registered company in the UK.

Despite these findings, Petro Union and its agents persisted in their claims that Union Bank had received £2,556,000,000.00 on their behalf and had transferred £2,159,221,318.54 to the CBN while retaining £396,778,681.46. This led to court actions against the CBN and Union Bank based on these dubious claims.

In a concerning development, Petro Union managed to secure a judgment by presenting an alleged statement of account from the CBN, neglecting the fact that a Central Bank serves as a banker to the government and banks, not to individual companies or persons.

Following these proceedings, both the CBN and Union Bank filed appeals to overturn the judgment, particularly as evidence of fraudulent motives began to emerge during the ongoing criminal prosecution of Petro Union and its executives at the Federal High Court in Lagos.

Additionally, information already presented to the Supreme Court suggests that Petro Union may have obtained the judgments at lower courts by allegedly providing evidence that appears to be based on falsehoods, forgery, misrepresentation of facts, and concealment.

Given Nigeria’s increasing debt profile, many observers are alarmed by the prospect of this additional £15 billion ‘debt’ looming over the nation. They are looking to the Supreme Court to deliver justice in this complex matter.

PenCom, Yobe State to Implement CPS Regime

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Governor Mai Mala Buni of Yobe State has reaffirmed his administration’s commitment to implement the Contributory Pension Scheme (CPS) in Yobe State.

Governor Buni stated this during a meeting with the Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran in Abuja.

The meeting which held on February 27, 2025, discussed the adoption and implementation of the CPS in Yobe State.

The engagement aimed to address critical steps required for the transition from the Defined Benefits Scheme (DBS), which is currently in practice in Yobe State to the more sustainable CPS to chart a clear path for the State’s pension reform efforts.

Speaking during the meeting, Gov. Buni reiterated his administration’s dedication to the welfare and financial security of retirees in the State. He emphasised the importance of the CPS as a part of ongoing efforts to ensure a stable and sustainable pension system for state employees.

The Governor highlighted that the adoption of the CPS would not only provide long-term benefits but also address issues related to pension arrears and past service liabilities. He further emphasised the need for sensitisation programmes to ensure that all stakeholders understand the scheme’s benefits and operational framework.

On the PenCom’s side, Ms.  Oloworaran briefed the Governor on the CPS and its long-term benefits for State employees. Discussions centred on the importance of passing the CPS Bill, ensuring timely remittances, and addressing past service liabilities through actuarial valuation.

A key outcome of the meeting was the Governor’s assurance of his administration’s readiness to implement the CPS by passing a robust pension law and setting up the necessary administrative structures. Governor Buni also reaffirmed his commitment to pre-retirement training programmes aimed at equipping civil servants with skills for post-retirement opportunities.

Ms. Oloworaran commended Governor Buni for his forward-thinking approach, particularly his initiative to clear pension arrears owed to retirees. She pledged continuous technical support from PenCom to facilitate the smooth adoption of the CPS in Yobe State.