Friday, April 10, 2026
26.8 C
Lagos
Home Blog Page 6

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

0

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

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

0

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

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

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

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

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

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

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

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

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

 

About emPLE

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

 

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

0

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

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

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

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

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

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

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

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

 

About Chowdeck

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

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

 

About MyCoverGenius

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

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

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

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

0

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

 

SanlamAllianz Nigeria Pays over ₦77bn in 2025 Claims, Reinforces Financial Strength, Customer Trust

0

SanlamAllianz Nigeria, comprising SanlamAllianz Life Insurance and its subsidiary, SanlamAllianz General Insurance, has announced total claims payments in excess of ₦77 billion across its Life and General Insurance businesses for the 2025 financial year, reaffirming its financial strength and commitment to policyholders amid sustained macroeconomic pressures.

The performance underscores the company’s role as a reliable risk partner and reflects the strength of the Sanlam Allianz joint venture, which combines African market leadership with global insurance expertise.

According to the unaudited figures, the Life business recorded Net Claims Incurred of ₦57.06 billion in FY 2025, compared to ₦51.04 billion in FY 2024, representing an 11.8% year-on-year increase.

The increase reflects elevated claims costs driven by Nigeria’s 2025 macroeconomic environment, including inflationary pressures impacting benefit payouts and medical-related claims across the industry. Despite this, the Life business delivered strong top-line growth, with Gross Written Premium (GWP) rising to ₦81.39 billion in 2025, up from ₦60.86 billion in 2024, a significant 33.7% year-on-year increase.

Commenting on the results, Tunde Mimiko, Chief Executive Officer, Life Business, said: “Our unaudited 2025 results reflect disciplined growth and an unwavering commitment to our policyholders. In a year defined by economic pressure, we honoured our obligations promptly and responsibly. The strong premium growth demonstrates increasing trust in our Life solutions and confidence in the SanlamAllianz value proposition. Our focus remains on protecting families and businesses so they can truly live with confidence.”

The General Insurance business, on the other hand, according to its unaudited results, paid ₦20.9 billion in claims in 2025, compared to ₦13.97 billion in 2024, marking a 47.6% year-on-year increase in claims settlement.

Gross Written Premium for the General business stood at ₦47.05 billion in 2025, reflecting sustained underwriting capacity and expansion across corporate and retail portfolios.

Jacqueline Agweh, Chief Executive Officer, General Insurance Business, stated: “The true measure of an insurance company is its ability to pay claims efficiently and transparently. Our unaudited 2025 performance demonstrates operational strength and financial resilience. As part of the SanlamAllianz joint venture, we leverage global underwriting standards, strong capital backing, and deep local expertise to ensure individuals and businesses remain protected against uncertainty.”

SanlamAllianz Nigeria operates under a strategic joint venture between Sanlam, Africa’s largest non-banking financial services group, and Allianz, one of the world’s leading global insurers.

The alliance combines global risk management expertise, strong capital and governance frameworks, advanced technical underwriting capabilities, and deep local market understanding

The company’s claims record reinforces its brand promise, “Live with Confidence.”

By honouring over ₦77 billion in claims in 2025 alone, SanlamAllianz continues to provide financial security, stability, and peace of mind to individuals, families, and businesses across Nigeria.

 

About SanlamAllianz Nigeria

Formed as a merger of Sanlam, Africa’s biggest non-banking financial services firm and Allianz, easily the world’s most recognisable insurance brand in a JV across 28 countries on the continent, SanlamAllianz has become the clear leader in the non-banking financial services industry in Africa with strong commitments to be top two in every market in which they operate.

Consummated in Nigeria as SanlamAllianz Nigeria in June 2025, the brand immediately embarked on a rebrand campaign which saw it dominate headlines to the delight of industry watchers.

 

Stanbic IBTC Economic Summit Delivers Strategic Framework for Navigating Nigeria’s 2026 Investment Landscape

0

Institutional investors, corporate leaders and economic experts gained practical insights into portfolio positioning at the recently held Stanbic IBTC Economic Summit.

Delivered virtually under the theme ‘From policy to pockets: How 2026 economic shifts will shape your financial decisions’, the summit explored how Nigeria’s shift from economic stabilisation to growth consolidation is redefining opportunities and risks for decision-makers. Discussions examined monetary policy transmission, sectoral opportunities, equity valuations and institutional risk frameworks.

Speaking on the objective of the webinar, Busola Jejelowo, Chief Executive, Stanbic IBTC Asset Management, said:

“Stanbic IBTC brings a distinct perspective to this conversation. As an integrated financial services group spanning asset management, banking, pension administration, insurance, stockbroking, trustees and investment banking, we support clients across every stage of their financial journey from treasury and trade finance to pension fund custody and structured investment solutions.”

Busola added that today’s environment calls for discipline and long-term thinking. “Economic uncertainty demands proactive risk management and continuous learning. By working with trusted advisers and staying ahead of market shifts, investors can preserve value and position to capture opportunities in a transforming economy. Our teams are ready to support portfolio reviews, strategic asset allocation, and tailored solutions.”

Kuranga, Abdulazeez A, an Economist in Global Markets at Stanbic IBTC Bank, expressed confidence that Nigeria’s economy will rely less on oil and grow from a wider mix of sectors in 2026. In his view: “We expect broader sectoral diversification in Nigeria’s growth trajectory, with the non-oil sector driving GDP expansion in 2026 as structural reforms deepen and reliance on petroleum revenues declines.”

Abdulazeez projected GDP growth of between 4.1% and 4.4% in 2026, marking a clear acceleration and pointing to stronger macroeconomic fundamentals compared to 2025.

Toyin Aju, Head of Fixed Income at Stanbic IBTC Asset Management, highlighted the value of professional asset management: “Mutual funds simplify investing by undertaking rigorous credit analysis and comprehensive reviews before deploying capital. Sound financial health starts with informed decisions, and we encourage investors to engage us in planning their financial future.”

On equities, Kehinde Owonubi, Head of Equities, Stanbic IBTC Asset Management, maintained a positive outlook:

“We remain constructive across most sectors, supported by expectations of sustained economic growth and improving macroeconomic stability. In particular, the banking sector stands to benefit from this growth momentum. As interest rates decline, we expect credit growth to accelerate, supporting lending activity and profitability.”
He also described the recent regulation by the National Pension Commission (PenCom), which revised the allowable limit for pension fund allocation to equities upward, as supportive of market depth, noting that increased pension fund participation should be constructive for long-term market development.

Across sessions, speakers agreed that while stabilisation progress is evident, translating stability into sustainable returns will require disciplined execution. Panellists emphasised scenario-based portfolio construction incorporating optimistic, baseline, and downside cases to build resilience across varying economic outcomes.

The summit reinforces Stanbic IBTC’s role as a thought partner to investors – deepening market insight; strengthening investment decisions; and supporting the long-term growth of Nigeria’s financial ecosystem.

ITREALMS Media Announces 2026 Nigeria DigitalSENSE Forum, Focuses on Sustaining WSIS Vision, Multistakeholder Synergy

0

As the global community accelerates toward a more integrated digital future, ITREALMS Media Group, through its flagship digital rights initiative, the Nigeria DigitalSENSE Forum (NDSF), has officially announced the 2026 edition of its annual convening on Internet Governance for Development (IG4D).
The Forum, scheduled for Thursday, June 11, 2026, at the Welcome Centre Hotels, Ikeja, Lagos, will bring together policymakers, tech innovators, and civil society under the theme: “Sustaining WSIS Vision with Multistakeholder Synergy in Nigeria.”
This year’s theme aligns with the recent UN General Assembly Resolution A/RES/80/173, which reaffirms the World Summit on the Information Society (WSIS) vision. The 2026 NDSF aims to address the critical need for connecting all citizens, ensuring the affordability of digital technologies, and increasing investment in Digital Public Infrastructure (DPI) to bridge the widening digital divide.
Speaking on the upcoming event, Ogbuefi Remmy Nweke, Group Executive Editor and Lead Consulting Strategist at ITREALMS Media, emphasised that the stability of Nigeria’s digital economy depends on collaborative security.
“Building an inclusive, open, and secure digital space remains paramount,” Nweke stated. “Beyond connectivity, we must ensure that our digital ecosystem protects children online and remains resilient against global threats. The 2026 NDSF serves as a catalyst for the multistakeholder synergy required to achieve these goals.”

Key Highlights of NDSF 2026:
Focus on Emerging Tech: In-depth discourse on IPv6 adoption, Domain Name System (DNS) security, and the evolution of Digital Public Infrastructure.
Child Online Protection: Strategies for creating a safer internet for the younger generation.
Strategic Collaboration: Continuing a long-standing partnership with the Nigerian Communications Commission (NCC), NITDA, and Association of Licensed Telecoms Operators of Nigeria (ALTON).
Smart Infrastructure: Exploring how telecommunications and satellite technology can drive the “Smart Nigeria” agenda.
The forum will feature a keynote address titled “Sustaining the WSIS Vision via Telecoms: Driving Multistakeholder Synergy for Nigeria’s Future,” expected to be delivered by leadership from the nation’s top regulatory bodies.
Since its inception, NDSF, hosted by DigitalSENSE Africa (DSA), an ICANN-certified At-Large Structure; has been at the forefront of motivating public discourse on the business and technological benefits of advancing internet governance.
Members of the press, stakeholders in the ICT sector, and the general public are invited to join this milestone event to help shape the trajectory of Nigeria’s digital sovereignty.

NCDMB: Remittance of 1% Nigerian Content Levy Still Mandatory

0

The Nigerian Content Development and Monitoring Board (NCDMB) on Tuesday reminded operators, contractors, and service companies in the upstream sector of the Nigerian oil and gas industry of their mandatory obligation to remit one percent (1%) Nigerian Content Development Fund (NCDF) levy into the bank accounts officially designated by the Board.

In a statement at the Nigerian Content Tower, Yenagoa, Bayelsa State, the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe explained that the NCDF is established under Section 104 of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010 as a dedicated fund for the development of Nigerian content in the oil and gas industry.

He reiterated that covered entities are bound to remit one percent (1%) of the value of every upstream contract, adding that NCDMB is vested with the exclusive authority for the management and administration of the fund.

Funds generated under the NCDF are deployed to support indigenous oil and gas contractors and service companies, to finance capacity development and training in the industry, to enable access to affordable finance for indigenous participation, and to drive sustainable growth across the oil and gas value chain.

Ogbe clarified further that “the NCDF is a ring-fenced statutory development fund created by a specific Act of the National Assembly,” adding that it is “not classified as Federal Government revenue payable into the Consolidated Revenue Fund and its collection and administration are expressly governed by Section 104 of the NOGICD Act.”

He stressed that all remittances of the one percent (1%) NCDF levy must be made strictly into the accounts officially designated by the NCDMB, pointing out that “any remittance made outside the accounts formally designated by the NCDMB “shall not be recognised as valid payment of the one percent (1%) NCDF Levy under the Act.”

He urged companies to ensure strict compliance and to seek clarification from the Board where necessary prior to effecting any remittance. The Executive Secretary assured industry stakeholders that the Board remains committed to transparency, accountability, and the effective utilisation of the Fund for the growth and sustainability of Nigerian Content in the oil and gas industry.

Furthermore, the NCDMB has announced that obtaining the Nigerian Content Development Fund Compliance Certificate (NCFCC) has become a key requirement for accessing the Board’s regulatory services and approvals.

The NCDF Compliance Certificate is issued to companies to confirm their full compliance with statutory obligation to remit one per cent (1%) of the value of every contract awarded in the upstream sector of the oil and gas industry.

The Board stated that “without a valid NCDF Compliance Certificate, access to regulatory documents, certifications, approvals, and clearances issued by NCDMB shall not be granted.” Some of these include Nigerian Content Equipment Certificate (NCEC), approvals and clearances for projects and contracts, and other regulatory documents issued by the Board.

The agency advised oil and gas industry stakeholders to regularise their NCDF remittance status, apply promptly for the document and ensure continuous compliance to avoid disruptions to operational schedules.

The Board said the process of obtaining the NCFCC is fully digital and accessible via the NCDMB online portal. It advised all eligible companies to submit relevant contract and remittance information, upload evidence of NCDF payments, complete verification and compliance review, and obtain the Compliance Certificate upon confirmation.

According to NCDMB, obtaining the NCDF Compliance Certificate matters because it is a validation of a company’s standing with the Board, and serves as a mechanism for promoting transparency, accountability, and sustainable Nigerian content development.

 

 

NCDMB Builds Capacity in Health Sector, Donates Hi-tech Equipment, Simulators to Bayelsa Medical University

0

A state-of-the-art Clinical Skills and Simulation Laboratory, fully equipped by the Nigerian Content Development and Monitoring Board (NCDMB), was on Friday commissioned at the Bayelsa Medical University (BMU), Yenagoa, with the goal of positioning the institution to align with global best practices in medical education, and “strengthening local capacity in Bayelsa State and Nigeria at large.”

Equipment provided include high-fidelity adult and pediatric patient simulators, laparoscopic training systems, obstetric trainers, advanced life support mannequins, consultation cubicles, and audio-visual learning systems, all of which the university authorities claimed would enable students to “learn, make mistakes, and perfect their life-saving skills in a zero-risk environment before they ever touch a human patient.”

Speaking at the commissioning ceremony at the Clinical Skills Acquisition Centre, BMU Main Campus, the Executive Secretary of the NCDMB, Engr. Felix Omatsola Ogbe, said that capacity building is “not just about oil and gas; it is about ecosystems,” and that the industry does not operate in isolation. He listed health care, education, engineering, and logistics, among others, as sectors with linkage to the oil and gas industry.

He noted that “Simulation-based learning is now the global standard in medical education” and that it allows students to acquire hands-on clinical skills, improves decision-making, and builds confidence in a controlled safe environment before engaging the blue patient.

Represented by Mr. Ene Ette, Acting Director, Planning, Research and Statistics (PRS) of the Board, the Executive Secretary commended the Management of BMU and partner organisations for their collaboration, professionalism, and shared vision, pointing out that the upgraded laboratory is a strategic investment in human capacity and capital development and a practical demonstration of how policy can translate into measurable impact.

In his welcome address, the Vice Chancellor of the institution, Professor Dimie Ogoina, noted that the event was not just the commissioning of a building or unveiling of medical equipment, it was about “securing the future of healthcare in Bayelsa State, the Niger Delta, and Nigeria at large.” He said words could not adequately express his profound gratitude to the Management of the NCDMB.

He recalled that when he assumed office as Vice Chancellor in 2025, he shared his vision, encapsulated in what he termed A.S.P.I.R.E. Agenda, to transform Bayelsa Medical University into a globally recognised leader in medical education, research, and innovation, driven by technology and excellence. “Today,” he remarked, “as we look at this world-class facility, we are seeing the ASPIRE Agenda come to life.”

To the Executive Secretary and the entire Management of the NCDMB, he declared: “You have provided us with the very best – from advanced patient simulators and CPR mannequins to essential surgical and diagnostic kits,” noting that by equipping the lab to such a standard, the Board was “directly contributing to the reduction of medical errors, the improvement of patient safety, and the development of indigenous healthcare professionals who will serve our communities and our industries.”

“We are not just training doctors for today, we are nurturing digital-age physicians capable of competing on the global stage,” he emphasised.

Professor Ogoina also appreciated the Bayelsa State Governor, Senator Douye Diri, and the Commissioners for Health and Education, for the unwavering support and for creating an enabling environment that allows partnerships like the one with NCDMB and its partner organisations to thrive.

In a similar vein, the Provost of the College of Medicine, Bayelsa Medical University, Professor Philip Eyimina, expressed profound gratitude to the NCDMB for its foresight and generosity in equipping the University Clinical Skills and Simulation Laboratory, and to the Bayelsa State Government for continued commitment to strengthening healthcare and education in the State.

He pointed out that the newly upgraded laboratory played a significant role in the institution’s recent accreditation verification exercise. According to him, “The presence of a functional, well-equipped Clinical Skills Laboratory strongly affirmed our readiness to deliver high-quality medical education in line with national standards.”

According to him, “In this laboratory, our students will learn essential competencies – history taking, physical examination, suturing, intravenous access, cardiopulmonary resuscitation, obstetric skills, and emergency response – while developing critical thinking, teamwork, and communication skills.”

In a special address, the State Governor, Senator Douye Diri, who is the Visitor to the University, lauded the NCDMB for providing facilities which he described as remarkable. He recalled the aspiration of the Vice Chancellor to make BMU “a leading university in medicine,” noting that “What the NCDMB has done is clearly a demonstration of going with that vision to market this university to the entire world.”

Represented by the State Commissioner for Education, Dr. Gentle Emelah, the Governor declared that the institution has the firm support of the State Government as it strives for high academic standards and global reckoning.

In a goodwill message, the Pro-chancellor of the University, Professor Tarilah Tebepah, said while the Governing Council was considering the vision of BMU becoming globally known as a leader in medical education, producing very sound innovative healthcare professionals, it never lost sight of the fact that a lot of technology, equipment and funding would be required.

He thanked the NCDMB profusely, while pleading that it should continue to identify with the institution as it grapples with resource-related challenges.

The event was concluded with a tour of key units of the state-of-the-art Clinical Skills and Simulation Laboratory, which include a Virtual Reality Station, Paediatric and Airway Management Stations, EGG and Patient Monitoring Station, IV Fluids Administration and Cannulation Station, and a Demonstration Hall.

NCDMB Holds Lagos Midstream Workshop, Charges Operators on Compliance, New Policies

0

The Nigerian Content Development and Monitoring Board (NCDMB) has enjoined operators in the midstream segment of the oil and gas industry to comply with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010, or risk attracting sanctions, including project withdrawal, suspension and criminal prosecution.

The Board also reaffirmed that obtaining the Nigerian Content Equipment Certificates (NCEC) attracts zero processing fees, and it had banned the use of middlemen in all its transactions and confirmed that expired or misapplied NCECs will lead to automatic disqualification from tenders.

These positions anchored the NCDMB Sensitisation Workshop for Midstream Companies and Stakeholders, held on Friday in Lagos, as the Board deployed a five-directorate technical team to deepen compliance awareness across Nigeria’s fast-expanding midstream segment.

Organised by the Monitoring and Evaluation Directorate and supported by the Project Certification and Authorisation Directorate, Capacity Building Directorate and Planning, Research and Statistics Directorate, the workshop was themed, ‘Compliance with the Provisions of the NOGICD Act 2010: The Path to Industrialisation’.

Opening the workshop, the Acting Director of Monitoring and Evaluation, NCDMB, Mr. Omomehin Ajimijaye, said the decision to host the Lagos leg of the engagement underscored the Board’s commitment to extending Nigerian content enforcement beyond the upstream sector and the Niger Delta region.

“Today’s workshop is one of the key platforms for deepening engagement with the midstream sector. We are not focused only on the upstream sector. We are also doing our best to ensure that our midstream and downstream stakeholders are carried along in the quest for Nigerian content value expansion, and for the economic progress and energy security of our country,” he said.

Conveying the appreciation of the Executive Secretary of NCDMB, Engr Felix Omatsola Ogbe, he thanked participants for honouring the invitation at short notice, describing them as strategic partners in the Board’s national mandate.

Ajimijaye outlined four objectives of the engagement: deepening understanding of the NOGICD Act; clarifying statutory reporting templates; addressing midstream-specific compliance challenges; and strengthening collaboration between the Board and industry players.

“Your feedback is crucial as we move towards our collective goal of raising Nigerian content to 70 per cent. This journey requires partnership and mutual understanding,” Ajimijaye added.

The Director of Capacity Building, Engr. Abayomi Bamidele, said, “The Act mandates all operators and contractors to prioritise Nigerian employment and training,” noting that any project or contract valued at $1m and above must submit an Employment and Training Plan for Board approval.

He explained the NCDMB Field Readiness Initiative, designed to bridge workforce gaps created by retirements and emigration of some personnel, and open the oil and gas sector to OND, HND and BSc holders via the NOGIC JQS portal.

Bamidele reiterated that NCEC processing is completely free, middlemen are prohibited, and companies must own, not lease, certified equipment.

Delivering a detailed technical presentation, the Supervisor, Project Certification and Authorisation Directorate, Mr. Elvis Ogede, explained that every operator was statutorily required to submit a Nigerian Content Plan in line with Sections 7 and 8 of the Act.

“With respect to your scope of work, we expect you to set targets. These targets are achievable, not just aspirations — with the capacity that exists in-country,” Ogede said.

He explained that operators must engage the Board at five mandatory points, including Nigerian Content Plan submission; approval of selective or sole-source contracting strategies; review of invitation-to-tender documents; participation in bid openings; and submission of technical and commercial evaluation reports before issuance of the Nigerian Content Compliance Commitment.

Clarifying recent changes, Ogede stressed that the NCCC was not a certificate of past compliance but a binding commitment.

“It is not a certificate that you have complied. It is a commitment — what you are going to do — and you will be monitored against it,” he said.

He also warned that Memoranda of Association could no longer substitute for valid NCEC, that expired NCECs are disqualifying, and that service-specific certification is mandatory.

“Nobody should expect to use a consultancy NCEC for fabrication work and then complain when disqualified,” he added.

The Deputy Manager, Midstream Monitoring Division, Mr. Damola Aderibigbe, outlined the Board’s monitoring framework, which spans performance, compliance and intervention monitoring across upstream, midstream and downstream operations.

“We do not just monitor activities — we measure performance against commitment,” he said.

He listed 14 statutory reports required from companies and warned that late or incomplete submissions remained the most common compliance failures.

Aderibigbe stressed that engineering firms must hold corporate COREN accreditation, not just individual staff certification.

“If you fall short of the law, remediation will be required, suspension may follow, legal action can be taken, and projects can be withdrawn. But the Board is a business enabler — we want compliance, not conflict,” he said.

The Supervisor, Planning, Research and Statistics Directorate, Mr. Emmanuel Paulker, said that the NOGIC JQS portal had registered 406,000 individuals and 11,445 companies, including 115 operators, though much of the midstream sector remains outside the system.

He said 1,603 expatriate quota applications had been processed, with 1,417 approvals, generating 13,833 employment commitments, and warned that companies must obtain NCDMB’s approval before approaching the Federal Ministry of Interior.

“Anything outside that process is a contravention of the law,” Paulker said.

Delivering the vote of thanks, the Supervisor, Midstream Monitoring Division, Engr. Pius Waritimi, reiterated that compliance commitments are binding and encouraged stakeholders to engage the Board early.

“We want everyone here to join the NCCF and the Sectoral Working Groups, where industry concerns can be addressed constructively,” he said.

 

CBN Gov: Net Reserve Figures Indicate Stronger External Sector Fundamentals, Result of Sustained Policy Reforms

0

The Governor, Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has stated that Nigeria’s gross and net foreign reserves showed significant improvement at the end of 2025, reflecting stronger external sector fundamentals and sustained policy reforms.

Following his disclosure at the post-Monetary Policy Committee (MPC) press briefing on Tuesday, February 24, 2026, where he said the country’s gross external reserves stood at $50.45 billion as of February 16, 2026, Mr. Cardoso, at the weekend, said the net foreign exchange reserves, as at the end of December 2025, rose to $34.80 billion.

He stated that the figures emphasised the benefits of increased transparency and credibility in foreign exchange management, boosting investor confidence, attracting stronger FX inflows, and improving reserve management practices aimed at preserving capital, ensuring liquidity, and supporting long-term sustainability.

According to him, the improvement represents a substantial strengthening in both the level and quality of Nigeria’s external buffers over the past three years.

He disclosed that net reserves increased sharply from $3.99 billion at the end of 2023 to $34.80 billion at the close of 2025, reflecting what he described as a fundamental improvement in reserve quality. He added that the 2025 net reserve position alone exceeded the total gross reserves recorded at the end of 2023, which stood at $33.22 billion.

Mr. Cardoso further stated that net reserves rose from $23.11 billion at end-2024 to $34.80 billion at end-2025, while gross external reserves increased to $45.71 billion from $40.19 billion over the same period, representing an increase of $5.52 billion. He said the expansion highlighted Nigeria’s enhanced capacity to meet external obligations, support exchange rate stability and reinforce overall macroeconomic resilience.

He described the end-2025 reserve position as strong validation of the Bank’s ongoing policy reforms and external sector adjustments.

He reaffirmed the CBN’s commitment to maintaining adequate reserve buffers, supporting orderly foreign exchange market operations, enhancing confidence in Nigeria’s external position and sustaining macroeconomic stability in line with its statutory mandate.

 

Stanbic IBTC Bank Nigeria PMI: New Orders Return to Growth, Inflation Eases to Lowest in Six Years

0

The Nigerian private sector returned to growth in February, following a muted start to 2026. A renewed rise in new orders fed through to an accelerated increase in business activity. Employment, input buying and inventories were also up midway through the opening quarter of the year.

Meanwhile, an improvement in the strength of the currency helped lead to an easing of inflationary pressures, with both purchase costs and output prices rising at the slowest rates in just over six years. The headline figure derived from the survey is the Stanbic IBTC Purchasing Managers’ Index (PMI).

Muyiwa Oni, Head of Equity Research West Africa at Stanbic IBTC Bank commented: “After the dip seen in January, Nigerian private sector returned to growth, with the headline PMI settling higher at 53.2 points in February from 49.7 in January.

This was in line with higher customer demand, which drove higher new product offerings at competitive pricing. Accordingly, output (55.8 vs January: 50.2) regained momentum in February while new orders (55.5 vs January: 49.9) also increased markedly in the month.

Notably, the wholesale & retail sector, which had dipped in January, returned to growth, thereby ensuring that all the four monitored sectors by the survey increased in February. Elsewhere, local currency appreciation helped to support softer input and output prices in February, as the naira has been trading below 1400 against the USD consistently since 29 January.

Strengthening external account, higher offshore FX flows, and improvement in remittances continue to support higher FX supplies with the CBN also stepping in by buying USD in the FX market to moderate the pace of local currency appreciation.

The Nigerian economy is on track to grow by 3.86% y/y in Q1:26 and we still see real GDP growth at 4.1% y/y in 2026. The government has been visible in infrastructure, livestock development, easing trade constraints, and attracting investments in oil & gas and manufacturing. Aside from that, the Dangote refinery is expected to continue to have forward-linkage impact on other sectors of the economy.

Additionally, likely lower interest rates in line with lower inflation and exchange rate stabilization should support private consumption and business investments in 2026. Because of these factors, we see more sectors contributing to real GDP growth rate in 2026 compared to 2025, likely translating to an improvement in the quality of lives of the citizens compared to the last two years when the citizens witnessed the full negative impact of the government’s flagship reforms.”

Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration. After dipping below the 50.0 no change mark in January, the headline PMI recovered from the reading of 49.7 to 53.2 in February.

As such, the latest data pointed to a solid monthly improvement in the health of the private sector. Except for January’s blip, business conditions have improved continuously since December 2024. New orders returned to growth in February, with anecdotal evidence pointing to improving customer demand and better product affordability.

The rise in new business, higher customer numbers and new product offerings helped lead to a rejuvenation in growth of output, which increased markedly and at the fastest pace in four months. All four monitored sectors saw activity rise as wholesale & retail posted a renewed expansion. Higher new orders led firms to expand their staffing levels again, and at the fastest pace since last October. Employment has now increased in nine consecutive months.

Despite sustained job creation, however, backlogs of work increased at the fastest pace since May 2020. Panellists linked rising outstanding business to delayed client payments, shortages of staff and materials, and power supply issues.

A desire to keep up with order requirements meant that companies expanded their purchasing activity and inventory holdings markedly in February. Suppliers’ delivery times continued to shorten, however, amid prompt payments and improved traffic conditions. A stronger currency led to a marked easing in the pace of purchase cost inflation in February.

The latest rise in purchase prices was the weakest in just over six years. Where inflation was recorded, panellists linked this to higher prices for animal feed and raw materials. Meanwhile, cost-of-living payments to workers meant that staff costs continued to rise.

With the rate of purchase cost inflation softening, firms also raised their output prices at a much weaker pace. Here too, the rate of inflation was the weakest since January 2020.

Advertising efforts and business expansion plans were central to positive expectations for output over the next 12 months. Sentiment picked up in February, but remained relatively muted.

TeamApt Partners Awabah, PenCom to Power Micro-Pension for Nigeria’s Informal Economy

0

L-R: Dennis Ajalie, Chief Executive Officer, TeamApt Limited (a subsidiary of Moniepoint Inc.); Tunji Andrews, Chief Executive Officer, Awabah; Uche Uzoebo, Chief Executive Officer, Shared Agent Network Expansion Facilities (SANEF); and Ifeanyi Duru, Senior Vice President, Enterprise Network Sales, Moniepoint Inc. at the announcement of the TeamApt-Awabah partnership during the Awabah Agent App Launch in Abuja.

TeamApt Limited, a subsidiary of Moniepoint Inc. and leading financial infrastructure provider, has partnered with Awabah, the National Pension Commission’s first licensed Accredited Pension Agent, to transform pension accessibility for millions of Nigerians in the informal economy.

This was announced at the launch of Awabah’s novel agent license in Abuja, under the theme ‘Building Financial Resilience: Securing the Future with Personal Pensions.’

The partnership addresses a critical gap in the informal sector outlined by Omolola Oloworaran, Director-General of PenCom, at the launch. She stated that although Nigeria’s pension assets have grown to over N27 trillion, the gains have largely benefited formal-sector workers, while the informal sector, which represents the majority of Nigeria’s workforce, mostly retires without any savings. Similarly, Moniepoint’s 2025 Informal Economy Report echoes this reality that 65% of informal businesses report revenue growth, yet most lack the structural sustainability needed for succession.

Through this collaboration, TeamApt, a CBN-licensed switching and processing company, will enable seamless pension onboarding and contributions via Point of Sale (POS) terminals across Nigeria for Awabah users through its Direct Debit service. Workers can register for personal pensions with simple clicks, tokenize their cards for recurring contributions, and set up automatic periodic deductions.

This transforms pension savings from a complex, bureaucratic process into a simple, everyday transaction, allowing business owners to build long-term financial security beyond their active working years.

“When we started Awabah, we were driven by a single idea: that no African worker should be one mishap away from poverty,” said Tunji Andrews, CEO of Awabah. “Our partnership with TeamApt makes this vision achievable at scale. Their Direct Debit service and extensive POS network enable us to meet informal workers where they are – at the market stall, the mechanic workshop, the roadside kiosk, and so on. For only a small token per period, workers can now access personal pensions bundled with health insurance, accident cover, and life insurance, all through the same POS terminals they use every day.”

Dennis Ajalie, CEO of TeamApt, emphasised the alignment with TeamApt’s mission: “At TeamApt and Moniepoint Inc., we have always been laser-focused on powering the informal economy. Today, in line with the permissible activities of our license category and in conjunction with our co-subsidiary, Moniepoint MFB, we operate in all 774 local government areas in Nigeria, serving millions of businesses and individuals who form the backbone of our economy. This partnership with Awabah represents exactly the kind of transformative financial infrastructure our country needs. Together, we will spread the gospel of pension inclusion, ensuring that every Nigerian worker, regardless of their employment status, can build a secure financial future.” Ajalie also acknowledged the leadership of the Director General of PenCom, Omolola Oloworaran, adding, “I want to commend the Director General for her visionary leadership in making this possible. Her commitment to expanding pension coverage to the informal sector is opening doors for partnerships like ours that can drive real, sustainable change.”

The partnership leverages TeamApt’s comprehensive financial technology ecosystem that has powered banks, fintechs, and other financial institutions for over a decade. Their omni-channel Direct Debit service enables automated, recurring collections (subscriptions, repayments, or instalments) directly from a customer’s bank accounts upon their consent.

For the everyday Nigerian, the benefits extend well beyond retirement savings. Workers can now automate contributions for investments in the capital market, access quality healthcare through HMOs, and protect their families through insurance coverage. The initiative delivers financial advancement and well-being that goes far beyond basic inclusion.

About TeamApt

TeamApt Limited is a subsidiary of Moniepoint Inc. and Nigeria’s leading financial infrastructure provider. As a CBN-licensed switching and processing company, TeamApt Ltd. powers banking operations for numerous Nigerian banks and fintech companies, designing and operating systems that enable reliable movement of funds between financial institutions, payment channels, and end users. TeamApt’s solutions include direct-to-bank transfers, switching infrastructure, third-party processing, and Monnify, its flagship payment gateway.

About Moniepoint Inc.

Moniepoint Inc. is Africa’s all-in-one financial platform, helping over 20 million businesses and individuals access seamless payments, banking, credit, cross-border, and business management tools each month. As Nigeria’s largest merchant acquirer, it powers most of the country’s point-of-sale (POS) transactions. Through its subsidiaries, Moniepoint Inc. processes over US$250 billion in digital payment transaction value annually.

ITU Report: 6bn People Connected Online, 2.2bn Offline Globally

0

The world’s online population grew by more than 240 million people in 2025, according to Facts and Figures 2025 released by the International Telecommunication Union (ITU).

The new estimates confirm continuing progress in expanding digital connectivity, while pointing to differences in quality that impact how users benefit from Internet use.

Globally, an estimated 6 billion people – about three-quarters of the world’s population – are using the Internet in 2025, up from a revised estimate of 5.8 billion in 2024. However, 2.2 billion people remain offline, down from a revised estimate of 2.3 billion in 2024.

Overall, the report’s findings underline the importance of digital infrastructure, affordable services and skills training to ensure that everyone can truly benefit from advancing technologies such as artificial intelligence (AI).

“In a world where digital technologies are essential to so much of daily life, everyone should have the opportunity to benefit from being online,” said ITU Secretary-General, Doreen Bogdan-Martin. “This report highlights how today’s digital divides are being defined by speed, reliability, affordability, and skills, all of which we must prioritise as we work toward our mission of universal connectivity.”

Connectivity’s Quality Challenge

For the first time, Facts and Figures estimates the total number of 5G subscriptions, which now account for about one-third – or around 3 billion – of all mobile broadband subscriptions worldwide.

In 2025, 5G networks are estimated to cover 55 per cent of the world’s population, reflecting strong momentum in advanced mobile technologies. Coverage, however, remains uneven, with 84 per cent of people in high-income countries having access to 5G, compared with only 4 per cent in low-income countries.

While Facts and Figures shows that 4G and 3G services are available to most of the global population, these services are not best suited for keeping pace with advancing technologies.

Estimates in the report reveal deep contrasts in intensity of use as an indicator of the quality gap. A typical user in a high-income country now generates nearly eight times more mobile data than one in a low-income country.

Making Connectivity Meaningful

Facts and Figures 2025 highlights that affordability and digital skills remain essential to achieving universal and meaningful connectivity – reached when everyone can access the Internet with high-quality service, at an affordable cost, whenever and wherever needed.

Globally, the median price of a data-only mobile broadband basket decreased, but access remains unaffordable in around 60 per cent of low- and middle-income countries.

Data also suggest that most Internet users possess basic skills, while more advanced capabilities – such as online safety, problem-solving and digital content creation – are being developed more slowly.

“Reliable data are the foundation of effective digital policies and of our shared vision to connect the world,” said ITU’s Telecommunication Development Bureau Director, Cosmas Luckyson Zavazava. “Achieving that vision will require sustained and well-targeted efforts – in infrastructure, in digital skills, and in data systems. By working together and directing resources where the needs are greatest, we can ensure that no one is left behind and that everyone benefits fully and safely from the opportunities of the digital age.”

Detailing the Globe’s Digital Divides

According to Facts and Figures 2025, digital development remains closely linked to economic development, gender and location.

The report underscores the persistence of several digital divides:

  • 94 per cent of people in high-income countries use the Internet, in contrast to only 23 per cent in low-income countries;
  • 96 per cent of those offline live in low- and middle-income countries;
  • 77 per cent of men are online compared to 71 per cent of women;
  • 85 per cent in urban areas are online versus 58 per cent in rural areas;
  • 82 per cent of 15–24-year-olds use the Internet, compared with 72 per cent of the rest of the population.

Facts and Figures 2025 provides global, regional and income group estimates for indicators related to Internet use, mobile network coverage, Internet subscriptions, Internet traffic, affordability, digital skills and mobile phone ownership.

 

 

NGX RegCo Issues Advisory on Recent Price Movements, Urges Informed Trading

0

NGX Regulation Limited (NGX RegCo), the independent regulatory arm of Nigerian Exchange Group, has issued an advisory to the investing public in response to notable price movements observed in the shares of certain listed companies over recent trading sessions.
Issued as part of NGX RegCo’s standard market surveillance functions, the advisory serves as a measured reminder for investors to prioritise informed and disciplined decision-making. The Exchange continues to monitor market activities closely in line with its mandate to ensure a fair, orderly, and transparent market.
NGX RegCo encourages all investors to base their decisions on publicly available information, including a thorough assessment of company fundamentals, financial performance, and risk profile. Investors are also advised to exercise due diligence, avoid speculative trading based on unverified information, and consult licensed intermediaries such as stockbrokers or investment advisers when needed.
Commenting on the advisory, Olufemi Shobanjo, CEO of NGX Regulation Limited, said: “Our primary responsibility is to maintain a level playing field where market participants can trade with confidence, backed by timely and accurate information. This advisory is a routine communication, reinforcing that sound fundamentals, not speculation, remain the foundation for sustainable investment outcomes. We are fully committed to preserving the integrity and stability of our market.”
NGX RegCo reassures all stakeholders that Nigerian Exchange remains stable, well-regulated, and resilient. The Exchange continues to foster an environment where investors can participate with confidence, supported by robust oversight and transparent market operations.