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13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

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L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating Office (NASSCO); Niyi Onifade, MD/CEO, Heirs Life Assurance and the Group’s Sector Head; Bernice Michael, 1st Runner Up; Rhema-Love Abraham, Winner, 2025 Heirs Insurance Essay Championship; Afopefoluwa Tofio-Jacobs, 2nd Runner Up; Okpe James Chidi, Winner, Teachers’ Insurance Awareness Prize; Wole Fayemi, MD/CEO, Heirs General Insurance and James Akpan, Head, Technical, Heirs Insurance Brokers.

Heirs Insurance Group, Nigeria’s fastest-growing insurance group, has announced the winners of the 4th edition of the Heirs Insurance Essay Championship, a nationwide competition promoting financial literacy and academic excellence among secondary school students and educators.

The grand finale, held at the Transcorp Hilton Hotel, Abuja, brought together students, parents, and academic leaders for a celebration of knowledge and creativity. This year’s edition, which attracted over 5,000 entries from junior secondary school students nationwide, was anchored on the topic “The Role of Insurance in Keeping Families Safe and Secure”.

After a rigorous evaluation process by a distinguished panel of academic professionals, independently verified by Deloitte & Touche, 13-year-old Rhema-Love Abraham of Precepts Learning Field, Lagos, emerged as the overall winner, earning a ₦5 million scholarship and a ₦1 million grant for her school.

Bernice Michael of S-TEE High School, Lagos, claimed the second-place position, winning a ₦2 million scholarship, while Afopefoluwa Tofio-Jacobs of D-IVY College, Ogun State, took third place, receiving a ₦1 million scholarship.

This year, Heirs Insurance introduced the inaugural Teachers Prize, to honor teachers promoting insurance awareness within their schools and communities. This initiative was created to democratise access to insurance literacy, working collaboratively with teachers and educators.

Mr. Okpe James Chidi, a teacher at Urban Secondary School, Umuna Orlu, Imo State, emerged as the winner of the Teachers’ Insurance Awareness Prize, with a personal award of ₦1 million cash prize, and a ₦500,000 grant for his school. His project, which deepened students’ understanding of financial literacy and insurance, was praised for its innovation, reach, and measurable impact.

Speaking at the ceremony, Niyi Onifade, Sector Head, Heirs Insurance Group, commended all the participants for their creativity and drive, emphasising the Group’s commitment to nurturing future leaders through education.

He said: “We are proud of every student and teacher who participated in this year’s Essay Championship. Their creativity, curiosity, and dedication reflect the future we envision for our nation; one built on knowledge, innovation, and resilience. At Heirs Insurance Group, we believe financial literacy is a powerful tool for empowerment and transformation”.

The Heirs Insurance Essay Championship is a flagship Corporate Social Responsibility (CSR) initiative of Heirs Insurance Group, created to build awareness of insurance literacy and critical thinking among young Nigerians.

The introduction of the Teachers’ Insurance Awareness Prize further demonstrates the Group’s commitment to advancing insurance education and promoting financial inclusion at every level of society.

Stanbic IBTC Bank, LOXEA BYD forge alliance for Electric Vehicle Financing

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In a strategic move to advance Nigeria’s shift toward sustainable transportation, Stanbic IBTC Bank has announced a partnership with LOXEA Nigeria, the exclusive distributor of BYD electric and hybrid vehicles in Nigeria and a subsidiary of CFAO Mobility.

This collaboration is aimed at making eco-friendly mobility more accessible to Nigerians through innovative and flexible financing solutions, reinforcing both organisations’ commitment to renewable energy and environmental sustainability.

The partnership was officially launched at an exclusive product showcase held at the BYD showroom in Victoria Island, Lagos. Attendees had the opportunity to explore BYD’s cutting-edge electric vehicle models, engage with industry experts, and learn about tailored vehicle financing options from Stanbic IBTC. To encourage early adoption, the initiative includes one-month special incentives, such as vendor discounts and reduced interest rates on vehicle financing.

The event featured compelling addresses from executives of both organisations, highlighting their shared vision for a cleaner, more efficient transport ecosystem in Nigeria.

Olu Delano, Executive Director at Stanbic IBTC Bank, stated: “This alliance underscores our dedication to empowering Nigerians with green alternatives that not only address environmental concerns but also offer practical, cost-effective solutions for everyday mobility. By combining LOXEA BYD’s innovative electric and hybrid vehicles with our flexible financing, we are not just offering cars, we are driving a cleaner future.”

Mehdi Slimani, Managing Director of LOXEA Nigeria, added: At LOXEA, we are proud to lead the transition toward cleaner mobility in Nigeria. Distributing BYD’s cutting-edge electric vehicles, along with our comprehensive suite of fleet and mobility solutions, allows us to offer a truly future-ready alternative. This partnership with Stanbic IBTC is a significant step forward in making electric mobility more accessible and practical for Nigerian drivers. Together, we are not just introducing new vehicles, — we are shaping a smarter, greener transportation ecosystem.”

The event sparked enthusiasm among attendees from various sectors, reflecting growing interest in sustainable automotive solutions. Models like the BYD ATTO 3 and BYD Dolphin were showcased as practical options for urban mobility, offering reduced reliance on fossil fuels, lower operational costs, and a smaller environmental footprint.

Looking ahead, this partnership positions Stanbic IBTC Bank as a key enabler of Nigeria’s renewable energy transition, expanding access to sustainable transport for a broader audience. Through strategic collaborations like this, the bank continues to drive innovation in financial services tailored to eco-conscious consumers.

 

 

CBN, Bank of Angola Sign MoU on Technical Co-operation at IMF/World Bank Meeting

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In an effort to enhance bilateral cooperation and technical exchange, the Central Bank of Nigeria (CBN) and the Bank of Angola, on the sidelines of the ongoing Annual meetings of the IMF and World Bank, signed a Memorandum of Understanding (MOU) for bilateral technical cooperation on Thursday, October 16, 2025.

The agreement, which was signed by the CBN Governor, Olayemi Cardoso, and his counterpart from the Central Bank of Angola, Mr Manuel Antonio Tiago Diaz, is expected to promote knowledge exchange, improve regulatory coordination, and enhance capacity in the execution of central banking functions.

Speaking at the signing, moderated by the CBN Deputy Governor (Economic Policy), Dr. Mohammed Sani Abdullahi, and attended by senior officials of both banks, the CBN Governor, Cardoso, described the MoU as a “timely and significant milestone” in fostering regional cooperation among African central banks.

He noted that the agreement had been in the works for some time and reflected the growing understanding that collaboration was essential to addressing Africa’s shared economic challenges.

“This forum brings together a multiplicity of stakeholders and interests from across the globe, and what we’ve done today highlights the spirit of cooperation that defines these annual meetings.”

Cardoso emphasised that the pact was in line with the CBN’s strategy to promote regional stability, support cross-border financial integration, and build institutional resilience across Africa.

“This agreement gives us the opportunity to strengthen regional understanding, share experiences, and build a more interconnected and robust financial system,” he added.

Speaking earlier, the CBN Deputy Governor (Economic Policy), Dr. Muhammad Sani Abdullahi, explained that the MoU provides a structured framework for both central banks to share knowledge, technical expertise, and supervisory information.

He said the objectives of the agreement include establishing a bilateral platform for reciprocal exchange of technical assistance, enhancing capacity development, and fostering collaboration in the supervision of financial institutions that operate across borders.

Abdullahi outlined several key areas of cooperation under the MoU, including exchange control, management of financial markets and foreign reserves, currency management, economic research, and monetary and financial statistics.

Others include payment systems, financial sector development, banking regulation, cybersecurity, anti-money laundering and counter-financing of terrorism (AML/CFT), and staff training.

He also highlighted the agreement’s focus on ensuring a transparent and smooth exchange of information between the two central banks, particularly in the licensing, ongoing supervision, and resolution of cross-border financial establishments.

“The cooperation will strengthen our capacity to manage systemic risks and ensure stability in our financial sectors,” Abdullahi said. “It also provides a platform for shared learning and innovation in central banking operations.”

In his remarks, the Governor of the Bank of Angola, Mr Manuel Tiago Dias, described the MoU as an important step toward building stronger financial ties between the two countries and, by extension, among African nations.

He observed that both central banks share common objectives of promoting macroeconomic stability, developing efficient payment systems, and safeguarding their financial sectors against global vulnerabilities.

NBS: Nigeria’s Inflation Falls to 18.02% in September, Lowest Level in Three Years

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Nigeria’s headline inflation rate fell for the sixth consecutive month in September, easing to 18.02 percent, its lowest level in three years. according to new data released by the National Bureau of Statistics (NBS). Core inflation slowed to 19.53 percent, while food inflation moderated to 16.87 percent over the same period.

The sustained decline marks a significant reversal from the inflationary peak of 34.19 percent in June 2024, reflecting the impact of the Central Bank of Nigeria’s (CBN) decisive monetary policy actions to restore price stability and anchor expectations.

In response to those pressures, the CBN raised its Monetary Policy Rate (MPR) from 18.75 percent to 27.50 percent through a sustained tightening cycle, while increasing the Cash Reserve Ratio (CRR) to 50 percent for commercial banks and 16 percent for merchant banks.

At its September 2025 meeting, the Bank eased slightly, lowering the MPR by 50 basis points to 27.00 percent and the CRR for commercial banks to 45 percent, while maintaining a firm anti-inflationary stance.

Monetary tightening was complemented by reforms in the foreign exchange market, including exchange rate unification and enhanced transparency to improve price discovery in the market.

The naira has since stabilised, with the spread between the official and Bureau de Change (BDC) rates narrowing to below 2 percent. Improved liquidity in the FX market has helped reduce the pass through of imported inflation and reinforced price stability.

Foreign reserves remain above $43 billion, providing more than eleven months of forward import cover, supported by sustained forex inflows.

The CBN said it remains committed to strengthening the disinflation trend, supported by a combination of exchange rate stability, durable improvements in food supply, and continued moderation in petroleum product prices.

Governor of the CBN, Mr. Olayemi Cardoso, at the ongoing Annual meetings of the International Monetary Fund and the World Bank Group, stated: “We expect inflation to continue to trend downward in the near term, supported by tight monetary conditions, a stable naira, and increased food supply.”

 

 

NUPEMCO Marks 2025 CSW with Nationwide Pension Awareness Activities, Huawei-Supported National Essay competition

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The Nigerian University Pension Management Company (NUPEMCO) celebrated the 2025 Customer Service Week with a series of impactful events across Nigerian universities, aimed at deepening pension awareness, promoting client engagement, and celebrating service excellence.

The week commenced with an opening ceremony and workshop held at Ahmadu Bello University, Zaria, themed “A Critical Analysis of the Contributory Pension Scheme (CPS) and Its Impact on the Nigerian Worker.” The event drew over 300 participants, including academics, non-academics, pensioners, and university administrators. Professor Kamal Bello from the National Open University delivered the keynote address which provided a comprehensive review of the CPS and its implications for Nigerian workers. A panel discussion followed, where experts and practitioners further examined the scheme’s successes and challenges, offering perspectives on how to strengthen pension operations within the university system.

The week-long celebration concluded at the University of Lagos, where Professor Mukhtar Halliru from Bayero University Kano delivered the keynote address during the closing workshop.

One of the major highlights of the event was the announcement of the winners of the NUPEMCO National Essay Competition, open to students across all Nigerian universities, themed “Securing the Future: Why Pensions Matter for Every Nigerian Worker.”

According to Dr. Austen Sado, Team Lead of the Essay Competition Assessors, the competition received over 800 submissions, out of which 340 essays advanced to the final stage after rigorous screening based on the published guidelines. Six winners emerged, representing the six geopolitical zones of the country.

The top three winners were Torsen Saameer Kasmir (University of Jos, North Central), Odo Chidiebere Getrude (University of Nigeria Nsukka, South – East), and Amina Ali Bello (University of Maiduguri, North – East). The 4th to 6th positions were awarded to Mohammed Sani Musa (Abdullahi Fodio University of Science and Technology, North – West), Ita Mary-Kate Ikorr (University of Calabar, South South), and Israel Eze (University of Ibadan, South – West).

The winners received both cash and technology prizes — ₦500,000 and a tablet for the 1st prize, ₦350,000 and a tablet for the 2nd prize, and ₦200,000 and a tablet for the 3rd prize, with cash consolation prizes for the 4th to 6th winners.

NUPEMCO partnered with Huawei Technologies for the essay competition. A representative of Huawei, Mr. Olayemi Joseph, delivered a presentation highlighting Huawei’s educational initiatives and commitment to youth development.

As part of the collaboration, Huawei also provided Mobile Access Points to the universities of the top three winners, further supporting digital inclusion and access to learning resources.

Through these activities, NUPEMCO reaffirmed its commitment to enhancing pension literacy, promoting social responsibility, and fostering closer relationships with stakeholders within the Nigerian university system, while also recognizing the vital role of technology in advancing education and service delivery.

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

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Nigeria’s foremost advertising leader and Chairman of Troyka Holdings, Dr. Biodun Shobanjo, has been inducted into the Loeries Hall of Fame, becoming the first West African to receive the prestigious honour since the award’s inception in 2008.

The induction, announced at the 47th annual Loeries Awards ceremony held on Friday, 10th October 2025 in Cape Town, South Africa, celebrates Dr. Shobanjo’s visionary leadership, trailblazing contributions to marketing communications, and his role in building one of Africa’s most formidable creative and business institutions; the Troyka Group.

The Loeries Awards remain Africa and the Middle East’s most esteemed platform for recognising excellence, innovation, and creativity across the marketing communications landscape. The Loeries Hall of Fame is its highest individual accolade, reserved for exceptional leaders who have dedicated their careers to elevating creativity and professionalism in the marketing communications industry across the region. Dr. Shobanjo becomes the 16th recipient of the award, joining a distinguished circle of global industry figures.

For over four decades, Dr. Shobanjo has been a defining voice in the African marketing and communications industry. As the chairman of Troyka Holdings, the parent company of Insight Communications, Leo Burnett, Starcom Media Perspectives, All Seasons Zenith, Quadrant MSL, Digitas, Optimum Exposures, and Halogen Security Company, he has led a transformative movement that redefined the standards of creativity, strategy, and professionalism in West Africa.

Under his leadership, the Troyka Group evolved from a wholly indigenous enterprise into an internationally connected network, through its partnership with Publicis Groupe, the world’s largest marketing communications conglomerate.

Through his leadership, the Troyka Group has become a benchmark for integrated communications in Africa. Its agencies have won multiple international awards and have been recognised for outstanding creativity and strategic excellence.

Beyond corporate success, Dr. Shobanjo is widely regarded as the “Father of Modern Advertising in Nigeria.” His visionary approach to talent development and mentorship has paved the way for generations of practitioners and entrepreneurs in the marketing communications ecosystem. His philosophy of discipline, excellence, and the relentless pursuit of innovation continues to shape the creative economy in West Africa.

He has also been recognised nationally and internationally for his contributions. In October 2022, Nigeria’s former President Muhammadu Buhari conferred on him the Officer of the Order of the Niger (OON) national honour.

About The Loeries

Founded in 1978, The Loeries is the oldest and most prestigious award organisation in Africa and the Middle East dedicated to recognising creative excellence in brand communication. Through its Hall of Fame, introduced in 2008, The Loeries honours individuals whose careers have made a lasting impact on the industry, not just through business achievements, but through mentorship, innovation, and leadership that inspire generations of creatives.

Past inductees include some of the most respected figures in the global advertising and communications industry, including Dani Richa, Chairman & CEO, BBDO EMEA, John Hunt, Worldwide Creative Director, TBWA/Worldwide, making Dr. Shobanjo’s recognition a milestone for West Africa and a testament to Nigeria’s growing influence in the global creative economy.

About Troyka Holdings

Troyka Holdings is West Africa’s leading marketing communications and business solutions group, comprising specialised agencies that deliver integrated services across advertising, public relations, media planning, experiential marketing, digital strategy, and security management. Through its agencies; Insight Publicis, Leo Burnett, Starcom Media Perspective, All Seasons Zenith, Quadrant MSL, Digitas, and other operating companies; Optimum Exposures, and Halogen Security,Troyka has managed some of the world’s biggest brands and continues to drive innovation that defines the future of African marketing.

The group is renowned for its creative excellence, strategic depth, and commitment to nurturing young African talent, making it a trusted partner for global and regional clients seeking authentic and effective brand engagement in Africa.

 

 

Stanbic IBTC Bank, NSACC Forge Path Towards Economic Resilience in Mining

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L-R: Dr. Jani Ibrahim, National President of Nigeria Association of Chambers of Commerce, Industry and Mines, NACCIMA; Dr. Ije Jidenma, Chairman, Nigeria-South Africa Chamber of Commerce; Austin Menegbo, Country Manager, Segilola Resources Operating Limited; Folake Ademiluyi, Sector Head, Power and Infrastructure, Stanbic IBTC Bank and Adebola Seriki, Sector Head, Diversified Industrials, Stanbic IBTC Bank, during the 2025 Nigeria-South Africa Chamber of Commerce (NSACC) Breakfast Session, hosted by Stanbic IBTC Bank, held recently in Lagos.

Stanbic IBTC Bank recently hosted the Nigeria-South Africa Chamber of Commerce’s September Breakfast Forum in Lagos, focusing on the potential of the mining sector in Africa. Themed “Unlocking Africa’s Hidden Wealth: Mining as a Catalyst for Bilateral Investment,” the event gathered industry leaders and investors to discuss economic opportunities in Nigeria and beyond.

The forum served as a pivotal opportunity to address the significant role that mining can play in the economic landscape of both Nigeria and South Africa. Key discussions centered on strategies for promoting collaborative investments, enhancing sustainability in mining operations, and identifying areas that are ripe for potential partnerships. Among the experts present were seasoned entrepreneurs and policymakers who shared their insights on best practices and innovative approaches to responsibly harnessing Africa’s mineral wealth.

Key discussions centred on strategies for promoting collaborative investments and enhancing sustainability in mining operations.

Speaking during a panel discussion, Adebola Seriki, Sector Head, Diversified Industrials, Stanbic IBTC Bank, highlighted the importance of stakeholder engagement in building partnerships across Nigeria and beyond. He expressed confidence in the potential for impactful solutions despite existing challenges.

“At Stanbic IBTC Bank, we are committed to a robust strategy for the mining sector. Our focus is on meaningful stakeholder engagement as we aim to connect communities and foster collaboration across Nigeria and Africa. While challenges exist, we believe in our potential to build a stronger future together, leveraging our partnerships and insights to create impactful solutions to drive growth in the Nigerian mining sector Creating partnerships across real stakeholders within the industry is our priority,” Adebola stated.

Participants emphasised the necessity of strategic investments to elevate the mining sector, which holds vast untapped resources critical for future growth. Conversations highlighted various avenues for cooperation, suggesting that leveraging the strengths of both nations could lead to fruitful investments that bolster job creation and stimulate economic advancement in the region.

In his keynote address, Austin Menegbo, Country Manager, Segilola Resources, emphasised the need for responsible practices in mining and the collaboration between local stakeholders and international financiers. He shared his experiences illustrating the significance of a balanced approach to harnessing Africa’s mineral wealth.

Menegbo states, “Our mission in soil exploration is to show that nature can be responsibly harnessed for a transparent and sustainable gold mining model. I have seen Africa’s hidden wealth and understand that success hinges on a synergy of vision, collaboration, and commitment, not just capital.”

“When communities thrive, investors are protected; and when investors are protected, cash flows. That embodies the essence of bilateral investment.”

Stanbic IBTC Bank’s collaboration with the Chamber reflects the bank’s ongoing dedication to supporting initiatives that positively impact the lives of Africans. By fostering dialogue through such forums, Stanbic IBTC demonstrates its deep-rooted commitment to enhancing economic resilience and stability within the region. The bank’s proactive approach aims not only to provide financial services but also to act as a catalyst for sustainable developmental practices in Africa’s mining industry.

As participants reflect on the insights gained from the forum, there is a shared recognition that sustained efforts are necessary to drive the mining sector forward. The enthusiasm exhibited during panel discussions signals a promising future, one where innovation, investment, and responsible practices converge to unlock Africa’s true potential. The partnership between Stanbic IBTC and the Nigeria-South Africa Chamber of Commerce serves as a demonstration of their commitment to achieving this vision.

The September Breakfast Forum not only highlighted the vast opportunities within Africa’s mining industry but also reinforced the necessity of collaborative efforts to foster growth. The commitment shown by all involved instils hope that, through strategic partnerships and dialogue, Africa can indeed unlock its hidden wealth and pave the way for a brighter economic future.

Emirates, flydubai, Dubai Finance Partner to Accelerate ‘Dubai Cashless Strategy’

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Emirates and flydubai have signed two Memoranda of Understanding (MoUs) with Dubai Finance (DOF) to advance digital payment initiatives and promote ‘Dubai Cashless Strategy’ among international tourists, cementing the city’s position as a global digital economy hub.

With over 18.7 million tourists visiting Dubai in 2024, cash-reliant travellers represent the emirate’s greatest untapped potential for digital payment adoption.

Two separate MoUs were signed by Adnan Kazim, Emirates’ Deputy President and Chief Commercial Officer and Hamad Obaidalla, flydubai’s Chief Commercial Officer with Ahmad Ali Meftah, Executive Director of the Central Accounts Sector at DOF, in the presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline & Group, His Excellency Abdulrahman Saleh Al Saleh, Director General of DOF along with senior Emirates Group and flydubai executives.

Adnan Kazim, Emirates’ Deputy President and Chief Commercial Officer said: “Emirates’ strategic partnership with DOF represents a significant opportunity to accelerate digital payment adoption across our tourism ecosystem. By leveraging our combined expertise and infrastructure, we’re supporting Dubai’s cashless vision and directly fuelling D33 Agenda ambitions by enabling the business case for digital-first tourism that creates seamless visitor experiences. With our global network, Emirates will also promote Dubai’s cashless ecosystem internationally, encouraging millions of visitors each year to embrace secure digital solutions from the moment they book their ticket. We hope what we are building today will become the blueprint that other major cities will follow.”

Hamad Obaidalla, flydubai’s Chief Commercial Officer at flydubai said: “Our collaboration with DOF is a pivotal step in advancing Dubai Cashless Strategy. flydubai is committed to adopting digital-first solutions, and this partnership will allow us to further enhance the travel experience for millions of international visitors who choose Dubai each year. By making cashless payments simpler, more secure and more accessible, we are not only improving convenience for our customers but also contributing to Dubai’s vision of becoming a leading global hub for digital innovation and economic growth.”

“Our partnership with Emirates and flydubai represents an important milestone in the implementation of the Dubai Cashless Strategy,” said Ahmed Ali Muftah, Executive Director of the Central Accounts Sector at DOF. “It will help expand the adoption of digital payments among the wide segment of visitors and tourists that Dubai attracts annually. Strengthening smart and secure payment channels consolidates Dubai’s position as a global destination for digital tourism and an innovation-driven economy. It also reflects our commitment to accelerating the transition towards a cashless society that achieves the highest levels of efficiency and financial sustainability. We are confident that this collaboration will open new horizons for the adoption of advanced financial solutions, supporting the emirate’s sustainable economic growth.”

Amna Mohamed Lootah, Director of Digital Payments Regulation Division at DOF, said: “Emirates and flydubai play a key role in driving positive change in Dubai’s travel sector. This partnership reflects our shared commitment to innovative financial solutions, enhances the smart tourism experience, and supports a seamless, secure, and sustainable financial environment for all. We are dedicated to providing a seamless and secure financial environment for everyone, contributing to Dubai’s long-term financial sustainability and economic growth.”

The partnership will leverage DOF’s established connections to government departments and both airlines’ substantial digital payment expertise, with a significant percentage of Emirates’ and flydubai’s global business conducted through digital transactions. Emirates offers 14 payment gateways for its customers, and Skywards, the award-winning loyalty programme for both Emirates and flydubai, is already a 100% digital currency for earning and redeeming benefits.

The MoUs aim to enhance collaboration across several areas, including exchanging expertise, technical know-how and best practices for cashless solutions within the travel and tourism ecosystem. All sides will explore opportunities to run workshops and training sessions and will evaluate payment adoption trends that support strategic planning efforts.

The collaborations will target tourists and travellers planning their stay in Dubai by developing initiatives that improve and make the digital payment experience more inclusive for visitors.

The carriers and DOF will explore joint marketing campaigns to uplift visitor awareness, tap into opportunities for incentives that encourage digital payment adoption as well as offer diverse digital solutions for visitors like contactless payments.

Launched last year, the Dubai Cashless Strategy aims to achieve 90% cashless transactions across government and private sectors combined by end of 2026. The initiative is projected to boost economic growth by more than AED 8 billion annually through innovative financial technology services.

The strategy is part of Dubai’s Economic Agenda (D33) to drive fintech innovation and competitiveness and focuses on delivering seamless, secure digital payment experiences across all sectors.

About Dubai Finance

The Department of Finance (DOF) for the Government of Dubai was established in 1995 under Law no. (5), to supervise all financial and accounting affairs of the Government of Dubai, in addition to issuing consolidated financial statements for the emirate’s government.

DOF is responsible for the development of the government’s general annual budget and its execution in cooperation with all relevant local government entities. Furthermore, DOF provides liquidity, including transferring sanctioned budgetary allocations to all relevant government entities.

It also oversees the preparation and development of financial resources, and verifies the collection and provision of general revenues, while also supervising government banking accounts. Dubai Finance strives to provide innovative financial services and enrich the culture of public expenditure optimisation, adhering to the highest local and global standards.

About flydubai

From its home in Dubai, flydubai has created a network of more than 135 destinations served by a fleet of 88 aircraft. Since commencing operations in June 2009, flydubai has been committed to removing barriers to travel, creating free flows of trade and tourism and enhancing connectivity between different cultures across its ever-expanding network.

flydubai has marked its journey with a number of milestones:

  • An expanding network:Created a network of more than 135 destinations in 58 countries across Africa, Central Asia, the Caucasus, Central and South-East Europe, the GCC and the Middle East, South Asia and South-East Asia.
  • Serving underserved markets:Opened more than 100 new routes that did not previously have direct air links to Dubai or were not served by a UAE national carrier from Dubai.
  • An efficient single fleet-type: Operates a single fleet-type of 88 Boeing 737 aircraft and includes: 28 Next-Generation Boeing 737-800, 57 Boeing 737 MAX 8 and 03 Boeing 737 MAX 9 aircraft.
  • Enhancing connectivity:Carried more than 120 million passengers since it began operations in 2009.

 

 

Adopt-A-School initiative: Stanbic IBTC Transforms Learning Environment at Chwelnyap Primary School, Plateau State

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L-R: Christopher John kyoroh, Local Government Chairman Jos North; Olushola Alerege, Head, Commercial Banking, North Central Suite, Stanbic IBTC Bank; Samuel Sunday Amura, Chairman, Plateau State Universal Basic Education Board at the handover ceremony of Chwenlnyap Primary School Plateau, forming part of the Stanbic IBTC’s Adopt-A-School initiative.

Stanbic IBTC Holdings has completed the renovation and upgrade of Chwelnyap Primary School in Plateau State under its Adopt-A-School initiative, reaffirming its unwavering commitment to advancing educational excellence across Nigeria.

The extensive renovation and infrastructure enhancement project underscores the institution’s belief in the transformative power of education as a key driver for national development.

The intervention at Chwelnyap Primary School featured a wide-ranging scope of work designed to foster a holistic learning environment. The project included the full renovation of Block B, comprising a three-classroom structure and two offices; the Headmaster’s Office and a staff room, both of which were upgraded as part of the expanded project scope.

Each classroom was fitted with brand-new furniture, with 20 desks and chairs per class, accommodating up to 40 students in each room. In total, the furniture provision caters to 120 students, promoting a more conducive and engaging learning experience.

Chuma Nwokocha, Chief Executive, Stanbic IBTC Holdings, highlighted the organisation’s vision for sustainable educational development through impactful initiatives.

“This project is a testament to our belief that every child deserves access to quality education in an environment that inspires learning and growth. At Stanbic IBTC, we recognise that education is the foundation upon which future leaders are built, and our commitment to nurturing this potential remains steadfast,” he stated.

In alignment with global trends in digital education, Stanbic IBTC constructed a fully equipped computer laboratory and mini library to strengthen students’ technological and intellectual capacities. The lab features 10 modern computers and 10 workstations, providing pupils with essential digital literacy skills to thrive in the modern world.

Further supporting the creation of a well-rounded learning environment, the institution also constructed eight modern toilets: four for girls and four for boys, to ensure proper sanitation, privacy, and hygiene. Additionally, a mini football pitch was developed to encourage sportsmanship, teamwork, and physical fitness among students.

Environmental sustainability was also integrated into the project’s design. The bank planted 30 trees and flowers across the school premises, contributing to a greener and more inspiring environment while instilling environmental awareness among the pupils.

Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, noted that the project exemplifies the organisation’s approach to holistic educational support.

“Our Adopt-A-School projects are not merely about physical structures but about building environments that nurture curiosity, creativity, and character. The transformation of Chwelnyap Primary School reflects our dedication to creating learning spaces where children can dream, discover, and achieve,” she said.

The handover ceremony was attended by government officials, community leaders, representatives of the Parent-Teacher Association, and other stakeholders, all of whom lauded the initiative’s positive impact on the community.

The renovation of Chwelnyap Primary School stands as another remarkable milestone in Stanbic IBTC’s Adopt-A-School journey, underscoring the bank’s leadership in corporate social responsibility and its unwavering dedication to expanding access to quality education across Nigeria.

With this ongoing commitment, Stanbic IBTC continues to close educational gaps by integrating infrastructure development, technological advancement, and environmental sustainability, a holistic approach that mirrors its long-term vision for national progress and human capital growth.

Through the initiative, Stanbic IBTC remains devoted to promoting sustainable educational development; one community, one school, and one child at a time.

 

“Oil Industry Investments Not Stifled by Local Content” – Nwapa, Pioneer ES NCDMB

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The Nigerian Content Academy Lecture Series organised by the Nigerian Content Development and Monitoring Board (NCDMB) got off to a thought-provoking start on Friday with a panoramic overview of local content strategy and implementation in the Nigerian oil and gas industry and a word of caution to industry players to not trifle with the initiative.

In a presentation on the topic “Staying the Nigerian Content Course in the Midst of Delivery Challenges,” the pioneer Executive Secretary of the NCDMB, Dr. Ernest Nwapa, addressed several industry issues, dismissing the notion that the absence of final investment decisions (FIDs) in the country’s oil and gas sector over a period of time was caused by stringent implementation of local content policies by the NCDMB. According to him, “There are many government policies that are affecting FIDs.”

He admitted that the oil and gas industry stakeholders face “an increasingly complex environment shaped by global energy trends, shifting investment patterns and heightened expectations for local participation and value addition.”

On suggestions that the future of local content policies is under intense scrutiny, Dr. Nwapa, a one-time Group General Manager, Nigerian Content Division of the Nigerian National Petroleum Corporation (2005-2010) noted that such unfounded fears had always been advocated by some industry stakeholders averse to the idea of local content.

He drew attention to some unhealthy trends in the oil and gas industry, noting that “there are unintended ambiguities in the Presidential Directives” introduced in February 2024. Such ambiguities, he pointed out, need to be addressed by stakeholders. He regretted that the ambiguities in the Presidential Directives have created systemic problems, and that there has to be “institutional adjustment to re-enact the authority in the NCDMB directives.”

He decried what he described as “lack of respect for the authority of the NCDMB within some industry stakeholder groups,” arguing that “when the Board writes a letter and says this is what stands on Nigerian Content, nobody questions it.”

Continuing, he declared, “If you challenge a letter from the NCDMB, it wouldn’t stand.” He said it is wrong for any agency to put aside a letter from the Board and continue doing things in its own way.

Dr. Nwapa, a Fellow of the Nigerian Society of Engineers (FNSE), pointed out that Nigerian Content has been a national aspiration with mixed results since the Nigerian economic development model was conceived.

According to him, statutes like the Petroleum Act, 1969, the Joint Venture (JV) agreements, the Petroleum Technology Development Fund (PTDF), and creation of NAPIMS, all had been conceived to achieve some measure of local content. There was also the Coastal and Inland Shipping (Cabotage) Act, 2003. But all these were incomparable to the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010.

In his words:

“Our young engineers, our young technicians now have places to go to acquire practical skills” because a lot of projects are going on in the country. For specifics, he declared, “If you look at the number of Nigerians that worked in Egina at the Integration Yard [SHI-MCI Fabrication and Integration Yard, Tarkwa Bay, Lagos], it’s not something you can just underestimate. So, we need to know there are serious consequences for failure of what we’ve started.”

Nwapa argued that “things around high costs of local content…are things that we have to continue to work on to see how we can have them reduced.” He said argued further that if you don’t start practising local content and get your people involved, the costs gap will be wider and wider, “so it’s either you decide to bite the bullet right now and use activities within your local economy to drive the costs to competitive levels or you can forget about it and not do it at all.”

He advised that cost of projects needs to be evaluated on a project-by-project basis and handled strategically by the Board. He insisted that “NCDMB has “the power to do that, working with the industry players,” who would provide the information and matrices.

Nwapa also advised that the Nigerian Content Academy, a division of the NCDMB, should be “a place where we test theories, and we go outside to the field and have strong workshop discussions and analysis, and proffer practical recommendations,” which could be taken to the NCDMB Executive Secretary or right up to The Presidency.

When the moderator of the Lecture Series and Director of the Academy, Dr. Ama Ikuru, invited questions and comments from participants, Mr. Simeon Ogari, Nigerian Content Manager of SEPLAT Energy Limited, sought to know why there is Nigerian Oil and Gas Industry Content (NOGIC) Joint Qualification System (JQS) and a parallel JQS operated by NIPEX [Nigerian Petroleum Exchange].

Engr. Nwapa said the situation had been so for some time but that it has not disrupted industry activities, and that differences could be sorted out in time. Other participants who sought clarifications include Mr. Isoboye Amachree, of Oando Plc, Mr. Kamselem Mohammed and Barr. Naboth Onyesoh, Director, Legal Services, of NCDMB.

The Nigerian Content Academy Lecture Series hold weekly and are intended to raise awareness of trends and issues in the oil and gas industry, and thus empower Nigerians to take full advantage of economic opportunities in that sector.

Team Nova Triumphs at Innovista Hackathon 1.0 with Game-Changing HealthTech App

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The curtain has officially closed on the inaugural Innovista Hackathon 1.0, a groundbreaking tech event that brought together some of Nigeria’s brightest minds to tackle real-world challenges through innovation. Organised by Digihub Technologies and Quadorra Technology, the hackathon marked a bold step toward building a future powered by visionary ideas and transformative solutions.
After an intense round of competition, two teams, Nova and Fusion emerged as the finalists. In a thrilling finale, Team Nova emerged victorious, clinching the top prize with their standout creation: CareBridge, a digital-first health insurance (HMO) platform designed to make healthcare more affordable and accessible. CareBridge impressed judges with its seamless integration of features including real-time doctor consultations, access to hospital and doctor networks, digital insurance claims processing, and AI-powered preventive health tools.
The app was praised for its relevance, technical depth, and user-centric design. Submissions were evaluated across six key criteria which include innovation and creativity, impact and relevance, functionality and user experience, completeness and polish, use of emerging tech, and technical implementation.
Speaking on behalf of Team Nova, Osaretin Okunrobo, the team lead, expressed gratitude to the organisers: “We’re honored to have participated in Innovista Hackathon. This experience has inspired us to keep building life-transforming solutions using technology.” Team Fusion, who secured second place, also commended the organisers for the opportunity to be part of such a dynamic and inspiring event.
The hackathon featured a distinguished panel of judges from both Nigeria and abroad, bringing global perspectives to the evaluation process.
The diverse expertise of the speakers and judges, encompassing fields from academic research to senior product management, logistics, banking, social work, and management consulting, provided a multifaceted perspective crucial for a successful hackathon.
For instance, Victor Agboli’s research background offered academic rigor, while Ahmed A. Ogundimu’s role at Amazon.com Inc. brought real-world product development insights. Benita Abuo and Oluwabukola Sambakiu contributed practical business and financial acumen, and Seye Olayinka Omiyefa’s social work experience highlighted the importance of human-centered design.
Adebimpe Mercy Adegoke and Kevin Ifiora, from NXT Management Consulting and Boston Consulting Group respectively, offered strategic and entrepreneurial viewpoints, ensuring that participants’ ideas were not only technically sound but also viable and impactful. In addition, Funmilayo C. Akintunde, an agricultural microbiologist, one of the guest speakers and judge reviewed several submissions and initial products that helped in the selection of the winners. Winners were presented with cash prizes and tech gadgets.
With a mission to host tech events that unite visionary minds, and a vision to become a leading innovation hub, Digihub Technologies and Quadorra Technology have set a new benchmark for collaborative problem-solving and digital transformation.

New Energy Solar Redefines Solar Installation Business in Nigeria

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With many years of experience as a Solar energy systems sales and installation company and having delivered solar projects for both residential and industrial use, we pride ourselves to be one of the most reputable brands in the Solar installation business, not just in Lekki but in Lagos and across Nigeria.

We at New Energy Solar go the extra mile to deliver quality, while ensuring that we use only the best solar panel brands in Nigeria for all our Solar panel installations.
We also have various Solar system plans that would fit your energy needs and budget at the same time.

 

Why Switch to Solar?
• Uninterrupted power Supply (24/7)
• Save money on electricity bills
• Enjoy the peace of mind that comes with knowing that you’ll always have power at home or at the office

 

Why Choose Us?
• Many years of industry experience
• We are the authorized distributors for top Solar Panel, Inverters and Battery brands etc.
• We have a team of highly skilled and well-trained engineers

So, whether you intend to power just a few things in your house like lights, TV and fridge, or you intend to power Air conditioners and ovens, we have a plan that will help you power all of that for the most competitive price.

If you’re ready to switch to solar and save cost on electricity bills, contact us today to get started.

Call Or Whatsapp: +234 808 487 6831

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Zenith Bank Marks Successful Public Offer, Achievement of Recapitalisation at NGX

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Zenith Bank Plc yesterday marked a significant milestone with a Closing Gong Ceremony at the Nigerian Exchange (NGX), celebrating the successful conclusion of its public offer and the achievement of the Central Bank of Nigeria’s (CBN) recapitalisation target.
The Bank’s recently concluded public offer, which was heavily over-subscribed, contributed ₦350.46 billion to its total capital raise, bringing its capital base to ₦614.65 billion.
This positions Zenith Bank comfortably above the ₦500 billion regulatory threshold for banks with international authorization and underscores the strong confidence investors continue to place in the institution’s leadership, performance, and growth strategy.
Speaking at the ceremony, Dr. Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC), commended the success of the offer, describing it as a reflection of the market’s strength and integrity. “This capital raise demonstrates the robust capacity of our markets. It’s a clear signal that with sound fundamentals and transparency, Nigeria can efficiently mobilize capital for growth,” he said.
Also speaking, Alhaji (Dr.) Umaru Kwairanga, Group Chairman of Nigerian Exchange Group (NGX Group), described the milestone as “a testament to strong leadership and a win for our capital markets,” adding that “Zenith Bank’s achievement solidifies its position as a pillar of the financial sector and underscores the market’s faith in its future.”
In his remarks, Temi Popoola, Group Managing Director/Chief Executive Officer of NGX Group, highlighted the role of innovation in driving the success of the offer. “The oversubscription of Zenith Bank’s offer is a direct result of innovation and collaboration. Our NGX Invest platform was instrumental in broadening access, onboarding a new generation of investors, and deepening market participation,” he stated.
Reflecting on the achievement, Dr. Jim Ovia, Founder and Chairman of Zenith Bank Plc, expressed gratitude to the investing public for their trust and support. “This successful capital raise, which secures our regulatory standing, is a vote of confidence in our legacy and our future growth trajectory,” he said.
Dame (Dr.) Adaora Umeoji, Group Managing Director/Chief Executive Officer of Zenith Bank Plc, described the accomplishment as both a regulatory milestone and a springboard for sustainable growth. She also acknowledged the role of NGX Invest as a vital enabler in achieving the Bank’s goals.
“Reaching a capital base exceeding ₦600 billion is not just a compliance achievement; it’s a foundation for the future. Through platforms like NGX Invest, which expanded access and simplified participation, we were able to reach a broader pool of investors. This underscores how innovation within our market ecosystem can drive inclusivity and accelerate growth,” she stated.
The Closing Gong Ceremony symbolised the beginning of a new chapter for Zenith Bank, one defined by strengthened capacity, innovation, and renewed investor confidence.
It also underscored the productive collaboration between the Bank, regulators, and the exchange group in fostering a resilient and dynamic capital market in Nigeria.

Fela’s Afrobeat Rebellion Aligns with Ecobank’s Commitment to Promoting African Heritage

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Ecobank Nigeria says the ongoing “Fela Kuti: Afrobeat Rebellion” exhibition reflects its belief in the transformative power of art and culture to inspire change across Africa.
Speaking at the event, Omoboye Edu, Head of SME at Ecobank Nigeria, described the exhibition as one of the many ways the bank continues to promote African creativity and innovation.
“Hosting Afrobeat Rebellion at EPAC aligns with our mission to showcase the continent’s creative energy. We are proud to celebrate Fela’s legacy and the vibrant spirit of Afrobeat in a space that inspires dialogue, imagination, and progress,” she said.
She explained that the three-month exhibition, which celebrates the life, music, activism, and enduring influence of Fela Anikulapo-Kuti, opened on October 12 and will run until December 28, 2025.
Beyond the music and memories, the exhibition speaks to Ecobank’s broader commitment to economic growth through the creative sector. By providing platforms like EPAC, the bank continues to nurture collaboration, entrepreneurship, and cultural exchange, which are all vital to building a thriving creative economy in Africa.
At the opening ceremony, Lagos State Governor Babajide Sanwo-Olu applauded Ecobank for its unwavering support of Nigeria’s creative industry. Represented by Mrs. Bukola Agbaminoja, CEO of the Lagos State Film & Video Censors Board, the Governor noted that Ecobank’s involvement in Afrobeat Rebellion reflects its long-standing dedication to nurturing the country’s artistic and cultural heritage.
“By hosting this exhibition, Ecobank reaffirms its belief in the power of art and culture to drive economic development. The bank understands that creativity is not just an expression of identity; it’s a force that can reshape communities, build industries, and spark innovation,” he said.
Also speaking at the event, Laurent Favier, Consul General of France in Nigeria, described Afrobeat Rebellion as an inspiring blend of cultural diplomacy and artistic reclamation, praising Ecobank and its partners for championing the project.
“Supporting this exhibition in Lagos reflects our belief that culture is a bridge between nations. It builds on the success of the earlier Paris edition, celebrating Franco-Nigerian collaboration and honouring Fela’s enduring legacy,” he noted.
Supported by the French Embassy in Nigeria, Ecobank, and other partners, the exhibition highlights Fela’s dual legacy, as a revolutionary musician and fearless political visionary.
The opening night came alive with performances by Ezra Collective, Seun Kuti and several others. These performances set the tone for a season of artistic exploration inspired by Fela’s Afrobeat revolution.
Other highlights of the three months exhibition include, the Talks — a thought-leadership series featuring Yeni Kuti, Prof. Oyeronke Oyewumi, Falana, Ade Bantu, Minna Salami, and Kadaria Ahmed — and Kalakuta Cinema, a film series curated by S16 Collective, showcasing films like Music is a Weapon, Mami Wata, Timbuktu, and Finding Fela.
For younger audiences, the Young Rebels’ Corner offers an engaging creative hub for children aged 6 to 15, with workshops such as the Rebel Scrapbook, Jam Station, and Anikulapo Design Workshop — nurturing a new generation of imaginative thinkers.
The programme also features Karatu Book Readings, Manifesto: The Weapon of the Future, Òrò Abamì Spoken Word Competition, and Dance for Freedom, a movement workshop by The Mud Art Company.
Open to the public, Afrobeat Rebellion invites visitors to experience Fela’s legacy not only as a musician but as a symbol of courage, creativity, and social change — reinforcing Ecobank’s belief that when art is empowered, society is transformed.

Access Bank Integrates PAPSS into AccessMore App, Deepening Pan-African Payment Connectivity

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Access Bank Plc has taken a major step toward seamless intra-African payments with the recent integration of the Pan-African Payment and Settlement System (PAPSS) into its flagship mobile application, AccessMore.
This strategic move underscores Access Bank’s commitment to enhancing cross-border payment experiences for its customers across the continent.
To mark the launch, the Chief Executive Officer of PAPSS, Mike Ogbalu III, paid a courtesy visit to the Bank’s head office in Lagos, where he held high-level discussions with Chizoma Okoli, Deputy Managing Director of Access Bank and Seyi Kumapayi, Executive Director for African Subsidiaries at Access Bank.
The discussions centered on deepening collaboration and optimizing the capabilities of PAPSS within the AccessMore ecosystem to deliver real-time, cost-effective, and secure cross-border transactions.
Speaking on the partnership, Chizoma Okoli, Deputy Managing Director, Access Bank said: “The integration of PAPSS into the AccessMore app is a significant milestone in our mission to unify Africa’s payment landscape. With Access Bank’s extensive footprint across the continent, this collaboration ensures that millions of our customers can now experience fast, efficient, and transparent cross-border payments like never before. Our goal is to leverage what we are building together to unlock innovations that seamlessly connect the continent, and we are delighted to partner with PAPSS in making this vision a reality”
Mike Ogbalu, Chief Executive Officer (CEO) Pan-African Payment and Settlement System (PAPSS), commenting on the collaboration said: “Our partnership with Access Bank is a game-changer for cross-border trade and payments across Africa. With the integration of PAPSS on AccessMore, we are enabling customers, individuals, SMEs, and corporates alike to transact effortlessly across borders, thereby supporting the goals of the African Continental Free Trade Area (AfCFTA). We’ve created a rail, and Access Bank has the network and customers. Within that, our rail can be used for all sorts of innovations. Access Bank can create products that we can carry on our network for every customer to use.”
Also speaking on the broader strategy, Seyi Kumapayi, Executive Director, African Subsidiaries at Access Bank, commented, “Access Bank’s vision is to be the world’s most respected African bank, and collaborations like this are essential to achieving that. By embedding PAPSS into AccessMore, we’re unlocking a new era of financial connectivity for our customers across our subsidiaries in over a dozen African markets.
PAPSS is significantly cost effective for cross border transactions, which makes it a highly valuable opportunity. To fully harness its potential, we need greater communication, stronger engagement, and coordinated rollouts across multiple countries at the same time. With the right momentum, we can accelerate adoption and achiever the scale this innovation deserves.”
This partnership between Access Bank and PAPSS is a step forward in realizing a fully interconnected Africa, where payments and trade move without friction. Customers can now enjoy a simplified, reliable, and faster method to send and receive money across African borders—directly from their AccessMore app.
The Access Bank Payments and Remittances Group manages AccessAfrica — the Bank’s proprietary cross-border payments platform — and oversees all remittance activities between Access Bank’s subsidiaries and international money transfer partners. At the core of its operations, AccessAfrica simplifies global transactions with speed, affordability, and reliability.
Currently available in Nigeria and 11 Access Bank subsidiaries across Africa, AccessAfrica enables cross-border payments to over 140 destinations worldwide through multiple channels, including branches, AccessMore, USSD, and Internet Banking. Access Bank is a leading force in African cross-border and remittance solutions, we facilitate a broad spectrum of international transfers — P2P, P2B, B2P, and B2B — reaching over 140 countries, connecting with more than 20,000 banks, and operating in over 20 global currencies.
The Group also drives remittance services in partnership with licensed International Money Transfer Operators (IMTOs), enabling customers worldwide to send funds to beneficiaries in Nigeria either as cash payouts or direct bank credits.

About Access Bank Plc
Access Bank Plc, a subsidiary of Access Holdings Plc, is a leading full-service commercial bank operating through a network of more than 700 branches and service outlets, spanning three continents and over 20 countries. The Bank is focused on driving sustainable economic growth and financial inclusion across Africa.

About PAPSS
The Pan-African Payment and Settlement System (PAPSS) is a centralized financial infrastructure that enables secure and instant cross-border payments in local African currencies. Developed by Afreximbank in collaboration with the African Union and AfCFTA Secretariat, PAPSS is set to revolutionize how money moves across Africa.