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Business

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Insurance

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NDIC, NSIA, NCS, LBS, Moniepoint Celebrate 35 Years of FICAN’s Resilience in Transforming Finance Journalism

L-R: Team Lead, Media and Communications, Union Bank, Adebukola Ayeni; Assist. Comptroler-General of Customs (ICT modernisation), Aondona Christopher Fanyam; Head, Communications and Public Affairs Nigeria Deposit Insurance Corporation (NDIC), Hajia Hauwa Gambo; National Chairman, Finance Correspondents Association of Nigeria (FICAN), Mr. Chima Nwokoji; Head, Corporate Communications, Nigeria Sovereign Investment Authority (NSIA), Ms. Joyce Onyegbule and Acting Chief Marketing Officer, Sterling Bank Limited, Donatus Okpako at the 2025 annual conference of FICAN in Lagos over the weekend.

For marking its 35th Anniversary, the Nigeria Deposit Insurance Corporation (NDIC), Nigeria Sovereign Investment Authority (NSIA), Nigeria Customs Service (NCS) and Lagos Business School (LBS), during the weekend joined other stakeholders to commend the Finance Correspondents Association of Nigeria (FICAN) for remaining resilience in transforming finance journalism and contributing to the Nigeria’s economy growth.

Managing Director NDIC, Mr. Thompson Sunday who was represented by Director, Claims Resolution Department, Mr. Sule Olawale and Managing Director, NSIA, Aminu Umar-Sadiq who was represented by Head Corporate Communications, Joyce Onyegbule in their goodwill messages at the 2025 annual conference of FICAN in Lagos praised the executives and members of the Association for collaborating with government’s agencies in effective dissemination of Information.

Olawale noted that 35 years is not a small feat, stressing that FICAN has positioned itself to be the hallmark of finance reporting in Nigeria.

“My goodwill message will centre around appealing to you to continue the good works. I commend the past and current leadership of FICAN for sustaining the association for over 35 years.

“NDIC and FICAN have had a very warm and cordial relationship over the years. FICAN has been there to tell our stories, give us the platform to share our narratives and to show to Nigerians the great work that the NDIC has done and will continue to do”, he said.

In her goodwill message, representative of NSIA, Onyegbule congratulated FICAN on the 35th anniversary, stressing that executives and members of the association have done a great job.

“On behalf of the management and staff of the entire NSIA, we extend our very warm regards and congratulations on this very laudable milestone that you crossed.

“FICAN has also showcased all the work that we have done across the six geo-political zones and also given us a platform to say the things that we even wanted to do in future.

“We say a very big thank you to FICAN and we look forward to many more years of impactful association to tell the stories that impact and shape the outcome that we as Nigerians want to see again and again,” she said.

In his speech, the Deputy Comptroller of Customs, Christopher Famyam, who represented the Nigeria Customs Service said the service is aware of the tremendous education and enlightenment the association is doing through stories members churn out on daily basis.

According to him the NCS, who has been at the forefront of the federal government’s modernisation and streamlining of processes in revenue collection and taxation, appreciates the laudable efforts of Journalists and especially FICAN.

He said NCS commenced its digital transformation as far back as year 2006 with Asucuda, but has recently achieved a localised modern platform known as B’Odogwu.

He said the introduction of the local platform has boosted revenue collection as well as enhancing trade facilitation.

“B’ Odogwu refers to the Nigeria Customs Service’s unified, indigenous software system designed to modernise trade processes and improve efficiency at Nigerian borders.

” It acts as a single platform for all customs clearance processes. It centralises customs operations for better management and monitoring and risk control”, he noted.

Also, Professor Akintola Owolabi, Dean of Accounting, Lagos Business School, said FICAN stands as the beacon for financial journalism in Nigeria.

He stressed that for 35 years, the association has catalysed economic discourse by forging robust connections between the media, academia, and industry leaders.

” Your unwavering commitment to rigorous capacity building, incisive reporting, and fostering transparency has enriched public understanding of Nigeria’s complex financial sector”, he added.

Owolabi said that the theme of the conference was timely and vital for Nigeria’s sustainable development, adding that “at Lagos Business school the strategic vision is in consonance with advancing digital transformation, promoting and cultivating the leaders Nigeria requires to navigate and pioneer the evolving frontier.”

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Independents to Account for 25% Oil Production by 2020

Independents are projected to account for about 500kbpd by the year 2020, representing 25% of crude oil production in Nigeria, from the current level of 10%. The development is seen as a reflection of the changing landscape of the oil and gas industry in Nigeria. Key Recommendations: • Integration of the upstream to other parts of the value chain may eventually be driven by the independents. • Challenges such as security, especially for independents operating in shallow waters. Local companies reiterated that security and community challenges have greatly altered their cost of production which cannot be fully ascertained. When coupled with Government take and interest from loans the cost per barrel increases. • Government is to ensure that an enabling environment is created - independents need to be able to deliver on capacity growth and funding.

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