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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.

 

Certified Pension Institute of Nigeria Holds Workshop in Abuja

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I am very pleased to participate in this three-day national workshop on pension administration.

The Certified Pension Institute of Nigeria takes this type of events very seriously because enhancing the knowledge and skills of members is critical to service delivery in our industry and the growth of the pensions management industry.

At this workshop, I understand that you have discussed issues such as information management, pension accounting and reporting, investment of pension funds, and challenges and prospects of the contributory pension system among others. These are practical and not theoretical knowledge and I expect you to put into practice the best practices that you have learnt in your various organisations.

I also expect you to live up to your obligations to the institute in terms of additional credit hours that you need to attain, payment of your subscriptions on a timely basis, projecting the image of the institute in a positive manner at all times and attracting more members.

Having said that, it is now my pleasure to declare the national workshop of the CPIN closed.

Thanks for your attendance and safe journey back to your various destinations.

Alhaji (Dr) Umaru Kwairanga

President/Chairman of Council

20 New Millionaires Emerge from Fidelity Bank GAIM 6 Promo

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L-R: Oyinkan Kusamotu, Principal Legal Officer, Lagos State Lotteries and Gaming Authority; Adetunji Mustafa, Divisional Head, Strategy, Innovation and Business Transformation, Fidelity Bank Plc; Aboluwade Margaret, South-West Zonal Coordinator, Federal Competition and Consumer Protection Council [FCCPC]; Osita Ede, Divisional Head, Product Development, Fidelity Bank Plc; Chetachi Okechukwu, Regional Bank Head, Ikoyi, Fidelity Bank; and Aigbadon Ehi, Surveillance and Investigation Officer, FCCPC; at the second and third Monthly draws of the Fidelity Bank, Get Alert In Millions Season 6 (GAIM 6) promo in Lagos recently.

Fidelity Bank Plc has announced 20 new millionaires at the 2nd and 3rd monthly draws of its Get Alert in Millions Season 6 (GAIM 6) promo held at the bank corporate head office in Lagos.

The 20 lucky winners, randomly selected through an electronic draw across Lagos, North, Abuja, South-West, South-South, and South-East zones, will be rewarded with the sum of one million naira each.

Speaking at the draws, the promo Chairperson and Executive Director for Lagos and South-West, Fidelity Bank Plc, Dr. Ken Opara represented by the Regional Bank Head, Ikoyi, Chetachi Okechukwu, noted that the GAIM 6 promo was designed to reward customers’ loyalty, encourage a savings culture, and promote financial inclusion across the country.

According to Opara, “Fidelity Bank is dedicated to the financial well-being of our customers and this commitment inspired the launch of the GAIM Promo, designed to cultivate a strong culture of savings.

“Through this promo, customers have the chance to win substantial cash prizes up to N10 million by saving and transacting with their Fidelity Bank Savings accounts.  In addition to the monetary rewards, winners will receive complimentary financial advisory services to secure and grow their wealth for the future.”

The monthly draws were monitored by the representatives of relevant regulatory bodies, including the South-West Zonal Coordinator, Federal Competition and Consumer Protection Council (FCCPC), Mrs. Aboluwade Margaret; and the Principal Legal Officer, Lagos State Lotteries and Gaming Authority, Oyinkan Kusamotu.

Since the campaign launched in November 2024, Fidelity Bank has disbursed N19.75 million to 869 customers across different categories. The GAIM 6 campaign, which will run until August 2025, is set to reward lucky customers with a total of N159 million.

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.

Unity Bank Hosts IWD Webinar, Commits to Accelerating Action Towards Gender Equality

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A cross section of Unity Bank women strike the #AccelerateAction pose in celebration of IWD 2025

Unity Bank Plc has reaffirmed its commitment to women’s empowerment with a series of high-impact initiatives designed to inspire action toward gender equality and sustainable development.

The Bank hosted a webinar with the theme: “Unleashing Women’s Potential,” pivoted by the Unity Bank Women Network as it was marking this year’s International Women’s Day.

Being one of the Bank’s thought-leadership on self-reliance, opportunity and equity, the webinar featured influential female leaders, including Gbemi Olateru-Olagbegi, a Nigerian entrepreneur and media personality, and Oluwabusayo Adegoke, a certified life coach and Strategy Consultant, who shared perspectives on women’s leadership, financial inclusion, and breaking barriers in male-dominated industries. The event provided an opportunity for professionals, entrepreneurs, and young women to gain valuable insights into personal and professional development.

The Bank also spotlighted women making significant contributions to their communities, particularly those driving change through education, mentorship, and financial empowerment. Among them were Abisoye Ajayi-Akinfolarin, a trailblazer empowering girls through technology; Tejumoluwa Olaobaju, an advocate leading the fight against period poverty in her community; and Chioma Ohakwe, a champion of inclusivity and women’s empowerment through targeted skill acquisition programmes for girls and women.

Speaking on the Bank’s commitment to gender equity, Mrs. Particia Ahunanya, Unity Bank’s Chief Compliance Officer and Chair of Unity Bank Women’s Network, stated: “Our commitment to financial inclusion and gender equity has made Unity Bank remain in the vanguard of championing opportunities for empowering women across all sectors. This is in view of the realization that women are crucial drivers of economic growth and societal transformation. Through initiatives like the ‘Unleashing Women’s Potential’ webinar and our community spotlights, the Bank is focused on promoting more initiatives to drive impact among the female gender.”

Unity Bank’s IWD 2025 initiatives align with its broader vision of supporting women in leadership, business, and entrepreneurship. Through gender-focused initiatives – particularly with products like the Yanga Account – the bank is committed to driving financial inclusion and empowering women to actively participate in economic and financial systems. By providing tailored financial solutions, Unity Bank aims to create equal opportunities for women to thrive, grow, and succeed.

As the global conversation on gender equality continues to gain momentum, Unity Bank calls on stakeholders across industries to accelerate actions toward creating a more inclusive society without limitations.

 

 

IWD 2025: NIA Supports ADHERI to Empower Women

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In commemoration of the International Women’s Day 2025, the Nigerian Insurers Association (NIA) has extended support to the Advocate for Health, Rights, and Youths Initiative (ADHERI) to empower women in Nigeria.

The support to ADHERI is a testament to NIA’s dedication to empowering women and promoting gender equality.

According to Mrs. Bola Odukale, Director-General of NIA, the association is committed to supporting initiatives and partnering with organisations that promote diversity, equity, and inclusion.

Odukale said this year’s International Women’s Day theme, “Accelerate Action,” resonates deeply with the NIA’s values and mission.

“We believe that empowering women is essential to creating a more inclusive and equitable society.

“This partnership is a step towards creating a more inclusive and equitable society, where women have equal opportunities to thrive and succeed,” the NIA DG added.

Mr. Emmanuel Etim, Founder/Executive Director of ADHERI, commended the NIA under the leadership of Mrs. Odukale for its support.

Etim also acknowledged the efforts of the NIA DG and other women leaders who are championing the cause of the female gender and promoting a more equitable society across various fields.

“We are grateful for the NIA’s support and commitment to empowering women. Together, we can create a more just and equitable society.

“Today, we gather not as individuals confined by borders, but as global advocates united by a shared vision: to amplify the voices of women, shatter barriers, and to create a world where equality and justice are the cornerstones of our societies,” Etim added.

The conference, which attracted professional women from various fields, featured career advancement seminars, leadership and communication skills training, and free one-year life insurance coverage for lucky winners.

Other activities included makeup training and networking sessions, among others.

Allianz Nigeria Insurance Limited Disavows Value Growth Company

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Our attention has been drawn to a purported partnership/agreement between an entity known as Value Growth Company and another company called Allianz General Insurance Company Limited.

We hereby notify the general public that Allianz Nigeria Insurance Limited, with RC No. 234883 and RIC No. 044, has no connection whatsoever with the supposed partnership/agreement. Allianz Nigeria Insurance Limited has no formal or informal partnership, agreement, affiliation, or relationship with either of the two entities mentioned above.

We advise the public that, in our opinion and understanding, the purported agreement contains statements and assertions that are false and misleading. For the avoidance of doubt, Allianz Nigeria Insurance Limited does not underwrite or guarantee any policies, investments, or financial products related to Value Growth Company. Additionally, our registered head office address is not as stated in the documents in circulation, and we do not have any authorized signatories or employees bearing the name of the individual who signed the said document.

Allianz Nigeria Insurance Limited is not liable for any claims or restitutions arising from this purported agreement.

We strongly advise individuals and businesses to exercise caution and verify any insurance-related transactions directly with us through our official communication channels:

Email: [email protected]
Phone: 0800-00-2554269
Website:
www.allianz.ng

Allianz Nigeria Insurance Limited remains committed to transparency, integrity, and the highest standards in the financial services industry. Any fraudulent or misleading use of the company’s brand name will be treated with the utmost seriousness, and all legal remedies will be pursued to the fullest extent of the laws of the Federal Republic of Nigeria.

Actions Taken by NCDMB Towards Addressing Sterling Oil’s Non-Compliance Issues

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The Nigerian Content Development and Monitoring Board (NCDMB) has noted the comments made by the President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Mr. Festus Osifo, during the union’s recent protest at the headquarters of Sterling Oil Exploration and Energy Production Company (SEEPCO), at Victoria Island, Lagos, over alleged anti-labour practices and expatriate abuses by the company.

NCDMB commends the PENGASSAN leader for acknowledging that qualified Nigerian personnel are occupying top leadership and technical positions in most international and indigenous operating oil and gas companies, and are performing creditably in those roles.

He noted rightly that Nigerians are executing complex functions in the floating production and storage and offloading (FPSO) platforms like Bonga, Agbami, USAN, AKPO, Egina, etc. Indeed, Nigerian oil and gas workers performed almost all operations in the oil and gas industry during the COVID-19 pandemic and kept the industry afloat, after most expatriates returned to their home countries.

These feats were accomplished through NCDMB’s strategic implementation and enforcement of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010, particularly the Expatriate Quota, Succession Plan and Deployment of Expatriates Guidelines and Expatriate Work Temporary Work Permit Guidelines. The successes were also enabled by the several Nigerian Content capacity building interventions that prepared and placed qualified Nigerians in key positions in the oil and gas industry. Through enforcement and compliance oversight, the Board ensured that 609 technical positions were nigerianised for the period 2020-2024

We are delighted that PENGASSAN served as a whistle blower over the alleged expatriate quota abuse by the management of Sterling Oil, and we assure the union and the general public that we would investigate the matter exhaustively and take necessary actions.

We can confirm that NCDMB had sanctioned SEEPCO a few years ago for gross violations of the NOGICD Act. Recently, we have been engaging the company for the same reasons. Our regulatory engagements with the firm are outlined below:

In 2017, the NCDMB identified five expatriates deployed by SEEPCO without obtaining the relevant NCDMB approvals. As a result, NCDMB penalised the company for this non-compliant deployment of expatriates. To remediate this, SEEPCO trained five Nigerians in Marine Engineering and Subsurface Drilling Engineering for nine months.

In 2018, NCDMB identified 402 expatriates deployed by SEEPCO without approval. Additionally, NCDMB discovered projects, contracts, and purchase orders from multiple projects that were awarded and executed without appropriate approvals. NCDMB penalised SEEPCO for these infractions and directed SEEPCO and its affiliates to take the following actions:

  • Disengage the 402 expatriates and provide evidence of their disengagement and exit to the Board.
  • Commence and comply with the NCDMB Expatriate Quota application process.
  • Comply with the Board’s requirements for tendering and awarding projects, contracts, and purchase orders.
  • Complete the Nigerian Content Development Fund (NCDF) reconciliation exercise and pay outstanding remittances.
  • Submit up-to-date statutory reports on Nigerian Content and comply with the review process.
  • Train and employ 40 Nigerians as part of the remediation/penalty.

 

Regrettably, SEEPCO ignored those directives until the Board commenced legal proceedings against the firm, in line with section 68 of the NOGICD Act.

In 2020, SEEPCO sought an out-of-court settlement and committed to addressing the compliance issues and undertaking the remediation. SEEPCO completed the training of 40 Nigerians in 2022, but the employment commitment was not achieved. Additionally, SEEPCO made only partial NCDF remittances.

SEEPCO has refused to respond and comply with other Nigerian Content requirements.

In 2023, SEEPCO obtained Expatriate Quota approval from the Board for three positions.

From our records SEEPCO has been granted only seven expatiate positions between 2017 to 2023.

The Board has requested for statutory submissions from SEEPCo and scheduled performance review session for March 2025.

 

Conclusion

NCDMB Expatriate Quota approvals and compliance and enforcement is applicable to only companies with investments or executing projects in the oil and gas industry. Non-oil and gas Expatriate Quota utilization does not come to the Board, but rather directly to the Ministry of Interior.

NCDMB is committed to the effective implementation and enforcement of the NOGICD Act in the oil and gas sector, with a view to creating employment opportunities for Nigerians, deepening Nigerian Content and boosting the economy.

The Board will not fail to sanction firms that flagrantly flout provisions of the NOGICD Act. The Board welcomes collaboration of stakeholders, including oil unions towards achieving the intendments of the NOGICD Act.

 

NCDMB Launches ‘Champions of Nigerian Content Awards’

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The Nigerian Content Development Monitoring Board (NCDMB), in partnership with Sweetcrude Limited, publishers of SweetcrudeReports, is pleased to announce the launch of the ‘Champions of Nigerian Content Awards’. This prestigious awards ceremony aims to recognise and celebrate individuals and companies that have made significant contributions to the development of Nigerian content in the oil and gas industry. 

Awards Ceremony Details

The awards ceremony is scheduled to take place on Wednesday, May 21, 2025, at the NCDMB’s world-class conference hall, situated at Yenagoa, Bayelsa State, beginning at 6 pm prompt. The event will hold on the sidelines of the Nigerian Oil and Gas Opportunity Fair (NOGOF), scheduled for May 20-22, 2025.

Selection Criteria

Unlike other awards in the Nigeria oil and gas industry, the ‘Champions of Nigerian Content Awards’ will be determined by verifiable accomplishments, using defined metrics set by the Monitoring and Evaluation Directorate and other operational directorates and divisions of the NCDMB.               

Awards Categories

The awards categories include:

– Nigerian Content Icon of the Year

– Nigerian Content Lifetime Achievement Award

– Nigerian Content International Upstream Operator of the Year

– Nigerian Content Indigenous Upstream Operator of the Year

– Nigerian Content Midstream Operator of the Year

– Nigerian Content Downstream Operator of the Year

– Nigerian Content International Service Company of the Year

– Nigerian Content Indigenous Service Company of the Year

– Nigerian Content Innovator of the Year

– Nigerian Content Financial Services Provider of the Year

– Nigerian Content Media Organization of the Year

. Women in Leadership Award for Promoting Gender Equality and Empowerment

Benefits for Awardees

Awardees will enjoy commensurate benefits, including media exposure and prominent display at the headquarters of the NCDMB, among other benefits to be determined by the Board.

Advisory Board

The Awards are superintended by an advisory board headed by prominent and accomplished industry players, including Dr. Ernest Nwapa, pioneer Executive Secretary, NCDMB, Dr. Omar Farouk, Secretary General of the African Petroleum Producers Organization, Mr. Tony Attah, erstwhile Managing Director of Nigeria LNG Ltd, and Mr. Wole Akinyosoye, former Zonal Operations Controller, Department of Petroleum Resources. The role of the advisory board is to confirm the authenticity of the winners and to give further gravitas to the awards.

Commenting on the ‘Champions of Nigerian Content Awards’, Mr. Felix Omatsola Ogbe, Executive Secretary of the NCDMB said “the time has come to identify and celebrate pillars of Nigerian Content who shall serve as a shining example of what is expected of others in the industry”.

He noted that the Awards are being launched just when oil and gas industry players are gearing up to mark the 15th anniversary of the Nigerian Oil and Gas Industry Content Development Act (NOGICD) Act 2010.

Mr. Abdulmalik Halilu, Director Monitoring and Evaluation at the NCDMB also remarked that the ‘Champions of Nigerian Content Awards’ will motivate and reward Nigerian Content compliance among entities in the oil and gas industry. He said the Board had mulled this event for a few years, and the launch signified NCDMB’s conviction that companies and individuals who extend themselves to develop Nigerian Content and comply with extant regulations should be identified by the regulator and celebrated, to serve as a beacon of motivation for other industry players.

On their part, Sweetcrude Limited has promised that the Awards will feature glitz and glamour, to signify the importance and contributions of Nigerian Content to the national economy.