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Enugu Bags Hosting Right For NAFEST 2025 

LarryBravo Nwaiwu

 

Enugu State has bagged the hosting rights for the 2025 National Festival of Arts and Culture themed “Connected Culture.”

 

Handing over the hosting rights to Governor Peter Mbah at the Enugu State Government House, the Director-General of the National Council for Arts and Culture, Obi Asika, said that the choice of Enugu for the event, which takes place from November 22 to 29, 2025, was based on the city’s rich history, cultural heritage, potentials, and recent developments which he described as ‘great things happening’ in the state.

 

This was even as Governor Mbah, promised participants a most memorable NAFEST experience.

 

Asika said, “Enugu has been on the news nonstop for great things. We see what is happening and we are proud of what you are doing and we want to be part of it. My supervising minister – the Honourable Minister of Art, Culture, Tourism and Creative Economy – is happy about NAFEST coming to Enugu.

 

“Enugu is one of the best cities in Nigeria and you have one of the best governors in Nigeria. We have been observing everything you have been doing.

 

“It will interest you to note that NAFEST was established by the Federal Government as a platform to unite Nigeria after the civil war, and interestingly, the first edition was hosted in Lagos after the civil war and the East Central State won it. Since then, the only time the event was held in Enugu was 2008. That was 17 years ago.

 

“But it is coming back. We see what Enugu is doing and I want to commend it. We also see especially some of the investment that you are putting in the Awhum Water fall, the Nsude Pyramid Canopy Walkway and other great things.”

 

The Director-General, said the event, which would bring over 30 states of the federation and over 5,000 competitors and foreign participants to experience Enugu, would contribute to the economic growth of the state and empower the youth.

 

“Enugu has a lot of limitless possibilities. I watched the Enugu Tech Festival and I love it. Enugu has a lot of schools than many states in Nigeria and NAFEST has a capacity-building side that will empower and upscale the capacity of these young ones to give them opportunities into the future.

 

“There are opportunities in NAFEST for the creative people, digital people, the content creators, the poetry people. Enugu has a strong background in masquerade and wrestling. These are some of the elements that are part of NAFEST,” he concluded.

 

Reacting, an elated Governor Mbah, said NAFEST hosting rights furthered his administration’s agenda to bring 3 million visitors to the state, annually, adding that Enugu was purpose built for such events, given the aesthetic, landscape, and the topography, and infrastructural transformations going on.

 

“Enugu lends itself to arts and culture. So, this is a situation where opportunity meets preparation. I can assure you that you are going to have one of the most memorable NAFEST events because we are ready and we are hungry for it.

 

“One of the major transformational agenda of this government is to make here one of the top three economies and the premier destination for business, leisure, living and tourism. We have set a target to attract 3 million visitors every year. So, this is already like a marriage made in heaven. We are going to do everything to ensure that the objective of the NAFEST is achieved and we provide you with the environment,” Mbah said.

 

He equally highlighted the progress and huge investments in the security of lives and property, assuring all participants of their safety.

 

“Today, I can assure you that we are one of the safest states to live in because we have built infrastructure to ensure that we nip crime in the bud. But we are not resting on our laurels. We will continue to build on that,” he concluded.

Anambra Govt Tours Ọgbọ-Ọgwụ Market 

. Expresses Satisfaction Over Market’s Situation
Worried by the various reports circulating on various social media platforms claiming that Ọgbọ-Ọgwụ Market, Bridge Head, Onitsha, was still closed, the Anambra State Government, on Wednesday, May 27, 2025, embarked on a fact-finding media tour of the market to ascertain the true situation on the ground.
The government team, comprising the Information Commissioner, Dr Law Mefor, and his counterpart in the Health Ministry, Dr Afam Obidike, walked round the market and interacted with some traders, the NAFDAC representative and the market leadership.
According to the Information Commissioner, Dr Law Mefor, who spoke to journalists amid some traders after the market tour, the visit was a follow-up on the governor’s earlier visit in February to ascertain whether the market was still closed.
“We are here for three reasons. One is to follow up on the earlier visit by the governor in February, when the Ọgbọ-Ọgwụ Market was closed. The governor made a passionate appeal to NAFDAC, asking them to quickly reopen the market to alleviate the sufferings of the people. As a committed and compassionate governor, he will always do all he can to ensure that the people do not suffer unduly. I also wanted to ascertain whether or not the market is still closed as claimed on the social media and still under lock and key.
“I can see for myself that the market has been open since March. We have met with the leadership of the Ogbogwu Market, the Director of Investigation and Enforcement of NAFDAC for South South/South East, and we have been able to ascertain how far they have gone in making sure that the Ọgbọ-Ọgwụ Market is running the way it should. From the Director of Enforcement and the union in the market, we learned that up to 95% of the shops are now open, and there are still a few shops under lock and key for two reasons. Some because the owners say they don’t have the kind of money being requested as a fine. There are some shops whose owners are reluctant to show up to be profiled for reasons best known to them.
“Overall, I think we are satisfied. For shops that are yet to be reopened, we will continue to support our governor to continue to put pressure on NAFDAC so that the remaining shops are reopened. It’s very important,” he said.
Also speaking, the Commissioner for Health, Dr Afam Obidike, assured that the drug market with full facilities for proper drug storage under construction in Oba will be completed as scheduled, even as he reminded the traders of the government’s commitment to their welfare.
Also in an interview, the Deputy Director, Investigation and Enforcement for the South South/South East Region of NAFDAC, Pharm. Omoyeni Babatunji said that the data they captured identified people with their shops, adding that 95% of the shops in the market have reopened.
In his remarks, the Ọgbọ-Ọgwụ C.T.C. Chairman, Hon. Ndubuisi Chukwuleta, explained that the market has been open since 7th March, 2025, when NAFDAC finished their work.
According to him, “The exercise did not take place only here in Anambra. It’s the same in Lagos, Aba. And everyone, both in Lagos and Aba, is paying the fines based on what was found in one’s shop. There’s a sketch of the Connected Wholesale Centre (CWC), the federal government brought out for the four centres – Lagos, Kano, Abịa and Anambra. Only Kano has complied and finished it. Mr Governor is building that of Anambra now in Obá. It has been more than 10 years since they asked us to build it. They didn’t go to Kano. It is only Lagos, Onitsha and Aba. And they penalised every shop for that poor storage.”
He thanked Governor Soludo for his intervention and support throughout the process, pointing out that it was the governor’s appeal that necessitated the shortening of the duration of the market closure, unlike the previous exercise that left the market closed for four months.
Chukwuleta further disclosed that it was through the intervention of government representatives that the fine of ₦2 million was reduced to ₦500,000, and the clearance that would have been done in Enugu is being done in the NAFDAC Office in Onitsha.
Foreign Investors See Opportunities Where Locals See Challenges – Coleman Wires MD

Photo: (L-R): MD Coleman Wires and Cables industries limited, Mr. George Onafowokan, DG MAN, Mr. Segun Ajayi-Kadir, DG NACCIMA, Sola Obadimu and Mr. Adetunji Aderinto, founder Zetamind consulting limited at a conference organized by Business Day in Lagos on Thursday.
The Managing Director of Coleman Wires and Cables Industries Limited, Mr. George Onafowokan, has said that more foreign investors are entering Nigeria to establish businesses despite prevailing economic challenges, even as some local businesses continue to complain about the operating environment.
 He urged Nigerian manufacturers to look inward and explore the abundant opportunities within the country to boost their enterprises.
Onafowokan made this known on Thursday during the 2025 Manufacturing Conference organized by BusinessDay in Lagos, with the theme: “Unlocking Nigeria’s Manufacturing Potential: Strategies for Sustainable Growth Amid Economic Turbulence.”
Speaking as the Chairman of the Ogun State chapter of the Manufacturers Association of Nigeria (MAN) during a panel session, Onafowokan disclosed that, in his capacity, he signs off on applications from companies joining the association. From this vantage point, he noted a growing trend of foreign businesses setting up in Nigeria, contrasting it with the hesitancy and pessimism of some local firms.
Commenting on the issue of multiple taxation, the Coleman MD described it as detrimental to the manufacturing sector. Nevertheless, he emphasized that, despite these hurdles, foreign investors continue to establish operations in Nigeria, and some local manufacturers are showing resilience.
“There are opportunities to tap into. We only need to take a long-term view and be deliberate,” Onafowokan said.
In the same vein, Adetunji Aderinto, founder of Zetamind Consulting Limited and a fellow panelist, remarked that foreign investors often recognize prospects in the Nigerian market that many local manufacturers overlook. He advised manufacturers to reduce costs through technology adoption and data utilization.
“Some manufacturers shut down operations because they don’t understand what their customers need. They need to increase market share and strengthen their supply chains,” Aderinto added.
Onafowokan concluded by asserting that Nigerian-made products, such as those from Coleman Cables, surpass many foreign alternatives in quality. He encouraged Nigerians not to compromise the country’s potential for short-term gains elsewhere.
Also speaking during the session, the Director General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Mr. Olusola Obadimu, called on the Federal Government and the Central Bank of Nigeria (CBN) to take urgent steps to curb inflation. He also urged state governments to focus more on people-centric development rather than internally generated revenue alone.
The panelists collectively encouraged Nigerians to patronize locally made products and commended the Federal Government’s efforts in promoting the “Buy Nigeria” campaign.
In his remarks, the Director General of MAN, Mr. Segun Ajayi-Kadir, made a strong case for policy interventions to unlock the sector’s full potential. He stated, “The Nigerian government holds the primary responsibility for creating an enabling environment to unlock the manufacturing sector’s potential. This requires strategic action across infrastructure, fiscal policy, and regional integration.”
Ajayi-Kadir acknowledged the passage of four tax reform bills aimed at streamlining the tax system and praised the government’s Nigeria First Initiative. However, he emphasized the need for swift and effective implementation.
He further recommended making the Nigeria First Policy a binding law, with penalties for violators, to ensure transparency, public awareness, and enforcement.
MAN DG called for establishing structured platforms for regular consultations with manufacturers to align policies with industry needs.
According to him, there is need for setting up systems for timely and relevant export data sharing through embassies, trade attachés, and relevant agencies to help manufacturers access global markets.
Also ensuring consistent and transparent policy-making to boost investor confidence and foster long-term growth. Investing significantly in critical transport infrastructure — roads, ports, and industrial corridors — to reduce logistics bottlenecks and improve market access.
Ajayi-Kadir noted that while recent improvements in infrastructure are commendable, only 37% of roads are in good condition, which continues to increase production and transportation costs, making Nigerian products less competitive.
ACAMB Champions Bankers Wellness With Aerobics Fitness Session

 As part of its commitment to promoting a healthier and more resilient banking workforce, the Association of Corporate Affairs Managers of Banks (ACAMB) is organizing a special Aerobics Fitness Session on Saturday, May 31, 2025 at the Lagoon Front of the Eko Atlantic City. The session is open to all bankers and marketing communication professionals within the industry and will feature a lineup of fun and energizing activities aimed at boosting physical and mental wellbeing.
With stress levels and burnout on the rise in high-pressure sectors like banking, ACAMB is taking, as it has done over the years, proactive steps to encourage lifestyle habits that support overall wellness and productivity.
Participants will begin the morning with a body warm-up and short walk to get their energy flowing, followed by an exciting dance aerobics session designed to elevate heart rates and lift spirits. The day will continue with interactive fitness games that promote movement and team bonding, and will wrap up with a friendly but motivating fitness challenge to inspire healthy competition and personal bests.
“Bankers are vital to the financial ecosystem, and their wellness must be a priority,” said Rasheed Bolarinwa, President of ACAMB. “This aerobics session is a powerful way to foster a culture of health, team bonding, and preventive care. It reflects our belief as ExCO that a strong mind and body, are essential for long-term professional excellence.”
The session is expected to kick off early in the morning to take advantage of the fresh morning air, allowing participants to start their weekend with energy, movement, and connection. It also presents an opportunity to unwind and build camaraderie amongst colleagues outside the traditional office setting.
This initiative is one of several wellness-focused programms ACAMB is rolling out to reinforce the importance of employee wellbeing in corporate and marketing communication and the broader banking ecosystem.
The Association of Corporate Affairs Managers of Banks (ACAMB) is the recognized professional association for marketing communications and public affairs executives in Nigeria’s banking industry. ACAMB drives ethical communication standards, promotes internal and external stakeholder engagement, and supports member banks in advancing reputation, trust, employee growth and wellbeing.
Inclusive Education in Action, Union Bank Sponsors Mathematics Competition for Hearing Impaired Students

Union Bank of Nigeria, through UnionCares, an arm of its Corporate, Sustainability and Innovation Initiative, recently sponsored the Ajofa Special Education Foundation for the Deaf Mathematics Competition held at the Wesley School for the Hearing Impaired at Surulere Lagos, Nigeria, with the theme “Impacting Deaf Students and Life with Mathematics in Nigeria.”
The Mathematics Competition had in attendance representatives from Union Bank, the Lagos State Education Board, Principals of Schools, and teachers. Ten competitors, drawn from different schools within and outside the deaf community in Lagos, participated in the programme.
The competition, a collaboration between Union Bank and the Ajofa Foundation, aimed to close the gap in inclusive education by creating opportunities for learners with hearing impairments to showcase their academic abilities and intellectual potential.
Speaking about the event, Olufunmilola Aluko, the Chief Brand and Marketing Officer at Union Bank of Nigeria, said,
“At Union Bank, we believe that development must be inclusive. That’s why, through our UnionCares initiative, we continue to invest in meaningful partnerships and platforms like this. We also commend the brilliant students on display today, who have demonstrated that their circumstances do not define them. Rather, they are writing a new story that says disability is not inability. They are mathematicians, thinkers, and problem-solvers whose wisdom whispers and reshapes the world positively”.
Francis Ajomiwe, the Founder and Executive Director for the Ajofa Special Education Foundation for the Deaf, who communicated through an interpreter, expressed appreciation to Union Bank.
He said, “I’m grateful to Union Bank for their Sponsorship of this competition, helping bring our dreams to life. Through the Foundation, we are contributing our share to the overall goals of enhancing the educational experience and developing the deaf community. This we have been committed to upholding through organising education programmes and projects that benefit the deaf community”.
The Lagos State Education Authority, from its School Support Section, was represented by Bukunola Famakinwa, who, during her speech, emphasised the importance of the initiative on deaf learners and their community, stating that, “Deaf learners face unique challenges in accessing quality education, and mathematics is no exception. However, they can excel in mathematics and beyond with the right approach and support.” She emphasised the importance of mathematics as it empowers learners to “make informed decisions, solve problems, and participate fully in society.”
She urged the community to collaborate with the deaf community to create an inclusive education system that supports deaf learners in Nigeria.
The top three winners of the competition were Samuel Megbodofo, Tomilola Shonubi, and Opeoluwa Saka, who finished in first, second, and third place, respectively. The winners, who came from different schools for the hearing impaired competition, received branded gifts from the Bank, among other prizes.
The rest of the competitors, learners and teachers were also not left out as they, too, were gifted branded items from Union Bank.
Fidelity Set To Hold 3rd Edition Of FITCC In Atlanta, USA September 2025

Leading African financial institution, Fidelity Bank Plc, is set to hold the 3rd edition of its flagship market access platform, the Fidelity International Trade and Creative Connect (FITCC) Expo from September 18 to 20, 2025, at the Omni Atlanta Hotel at Centennial Park, Georgia, USA.
In a strategic move to deepen diaspora and transatlantic business linkages, Fidelity Bank is partnering with Amplify Africa, the organizers of AFRICON, the leading African diaspora business and culture summit in the United States. This collaboration brings together two powerful platforms committed to bridging African enterprise with global opportunity.
“Since 2022, when we hosted the maiden edition, FITCC has evolved beyond a platform for promoting Nigeria’s non-oil exports to become a veritable showcase of the immense value Nigeria has to offer the global market.
“As part of our commitment to developing platforms that promote economic growth, creativity, and sustainable trade both within Nigeria and internationally, we are pleased to announce the third edition of FITCC. Since 2022 when we hosted the inaugural edition,  the FITCC expo has been at the heart of driving global market access for local businesses and I am delighted that this year we will be in the city of Atlanta, USA,” stated Dr Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer of Fidelity Bank Plc.
Following the success of previous editions in London and Houston, which collectively generated a consolidated deal pipeline exceeding US$500 million, FITCC Atlanta 2025 will convene over 100 Nigerian exporters, alongside U.S. buyers, investors, policy stakeholders, and diaspora-led business networks.
The expo will spotlight strategic sectors including agriculture, consumer-packaged goods, energy transition minerals, fashion, beauty, and the broader creative economy. Programming highlights include business exhibitions, B2B matchmaking, policy dialogues, diaspora investment panels, and curated workshops focused on expanding Nigeria’s access to global markets.
FITCC 2025 is expected to attract over 3,000 participants, including development finance institutions, chambers of commerce, trade facilitation agencies, and multinational corporations. The event is also aligned with ongoing government-led efforts to expand U.S.–Nigeria trade and investment under emerging bilateral frameworks.
Interested participants can register to attend by visiting https://www.fidelitybank.ng/fitcc/#start_registering
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
Seplat Energy Is Redefining Nigeria’s Energy Destiny – Roger Brown, CEO

Seplat Energy is Redefining Nigeria's Energy Destiny – Roger Brown, CEO -  Champion Newspapers LTD

From landmark acquisitions to digital innovation and ESG leadership, Seplat Energy is transforming Nigeria’s energy landscape and setting new standards for Africa’s indigenous operators, the Company’s Chief Executive Officer, Roger Brown, told Forbes Africa/Penresa team in an interview.

Following its landmark acquisition of Mobil Producing Nigeria Unlimited (MPNU) assets, Seplat Energy is poised to redefine Nigeria’s gas future through a blend of integration, innovation, and an unwavering commitment to inclusive national development. “We are absolutely delighted to have completed the MPNU acquisition. It’s a true game-changer for Seplat Energy. The scale of this transaction is simply monumental,” says Brown.

“We’re now active in 11 blocks, eight of which we operate directly.” The acquisition not only doubled Seplat’s reserves but also significantly expanded its footprint and diversified its portfolio across upstream and midstream sectors. “We have seven onshore blocks and four shallow-water offshore blocks. With this acquisition, we formed Seplat Energy Producing Nigeria Unlimited (SEPNU) and now manage operations that connect seamlessly into three terminals—one offshore and two onshore,” Brown elaborates.

He adds, “This gives us a fully integrated value chain—from the wellhead all the way to export via vessel—with Seplat in full control of operations. Our production has materially increased. We’ve moved from around 50,000 barrels per day to over 120,000 barrels per day. We’re proud to say that our workforce now includes around 1,500 professionals—the vast majority of whom are Nigerians.”

Brown emphasizes that the gas resource in Seplat’s offshore blocks is extraordinary. “While not all of it is currently classified as proven reserves, we estimate the actual volumes are three times what we’re currently reporting. This gas will be instrumental. It will feed into domestic power generation, industrial uses such as fertilizer and petrochemicals, and LNG—both Nigerian LNG and new floating LNG initiatives.”

He adds, “This is a major opportunity for Nigeria as we move into a new phase of energy autonomy. It’s not just about exporting oil and gas anymore; it’s about building domestic capacity that supports job creation, industrialization, and long-term economic resilience.” Seplat’s strategy remains focused on meeting Nigeria’s specific energy needs.

“You must tailor your energy strategy to where you operate. Nigeria has one of the lowest levels of energy access globally. Affordable, reliable energy is essential for economic development, job creation, manufacturing, education, and healthcare,” says Brown. “Gas is the answer for Nigeria’s base load electricity. It’s available 24/7, 365 days a year.”

He continues, “By the end of this year, we’ll have three operational gas processing plants onshore. Strategically, these are located to serve high-demand areas such as Lagos and Abuja. Together with our offshore acquisition, we’ll soon be capable of processing one billion cubic feet of gas per day. This expanded gas capacity will lower electricity costs and displace expensive and polluting diesel generators.”

While gas remains foundational, Seplat is already thinking ahead. “We do have ambitions in renewables and electricity generation,” Brown notes. “But for now, the biggest opportunities—and the greatest needs—lie in upstream oil and gas and midstream gas processing. At some point, when the time is right, we will take further steps into the electricity space.” The company’s long-term roadmap includes expanding modular solutions that can bring power closer to off-grid communities. “We’re exploring modular gas-to-power systems that can be deployed in rural areas. These will play a key role in solving last-mile electricity access problems,” he says.

Technology is central to Seplat’s strategy—both for operational excellence and for reducing environmental impact. “We’re aggressively moving to end routine flaring—some years ahead of Nigeria’s national target of 2030,” Brown states. “We’ve committed to ending flaring in our onshore operations this year, and we’re working on a roadmap for our offshore assets.”

“We’re deploying AI to monitor the integrity of aging infrastructure. Predictive maintenance now guides our operations. We’re also using better drilling technologies, data analytics for seismic analysis, and digital twins for real-time monitoring. Our technology team is continuously scouting and deploying tools that improve efficiency and reduce our carbon footprint.”

The adoption of these tools, he says, is part of building a smarter, safer, and more future-resilient Seplat. “This is about creating a culture of continuous innovation—about using the best available tools to optimize performance while keeping people and the environment safe.” Seplat is also investing in people, recognizing that long[1]term sustainability starts with human capital. “We just onboarded 50 new graduates through our graduate trainee program—out of over 10,000 applicants,” Brown shares.

“The talent in Nigeria is remarkable. We want to give them reasons to stay and thrive here.” This investment in human capital extends into partnerships with educational institutions and STEAM (Science, Technology, Engineering, Arts & Mathematics) programs.

“We’re working with universities to help shape curricula that are aligned with the skills we need in the energy industry,” Brown explains. “It’s not just about hiring—it’s about helping to develop the next generation of Nigerian engineers, geoscientists, economists and tech innovators, among others.”

Strong governance and a commitment to transparency underpin the company’s role in Nigeria’s transformation. “President Bola Tinubu has made clear that attracting foreign direct investment is a national priority. The process we went through with the MPNU acquisition was incredibly detailed and transparent. That’s the kind of diligence international investors expect.” Brown notes the institutional progress being made.

“Two of our board members are now part of NNPCL’s board. These are top-tier professionals—a clear signal that Nigeria is serious about transforming the energy sector. You simply cannot ignore Nigeria—a population of over 200 million heading toward 400 million. By 2050, one in four people on the planet will be African. Nigeria will be central to that story.”

He stresses the global significance of what is happening now. “This is a pivotal moment for Nigeria and the region. The global energy transition will not look the same everywhere. For Africa, and for Nigeria specifically, gas is our bridge fuel. And companies like Seplat are showing that indigenous players can lead the way.” Seplat also continues to deepen its impact through community investment and local partnerships. “Our approach is holistic— from scholarships and education support to healthcare outreach and economic empowerment,” he says.

“Our procurement policies prioritize indigenous businesses. We want value to stay in Nigeria, to strengthen the local economy and create jobs across the value chain.” Through its healthcare outreach, Seplat has touched thousands of lives across rural communities with free medical services, maternal health programs, and awareness campaigns. These programs are often developed in consultation with local leaders to ensure relevance and impact. “We believe in being a responsible neighbor and a reliable partner. Our goal is to support long-term development that lasts beyond the life of our projects.”

Environmental stewardship is another cornerstone of Seplat’s ESG commitment. Brown notes, “We’re investing not only in flare reduction but also in biodiversity initiatives and conservation programs in the Niger Delta. We understand our responsibility goes far beyond profitability.” He adds, “We’re even exploring the use of renewable energy to power our own operations—a small but symbolic step toward a diversified energy future. Gas is our foundation, but we’re preparing for what comes next.”

Finally, Seplat’s adherence to global standards ensures its long-term sustainability and investor confidence. “We are dual-listed in Lagos and London. We operate to global standards and have robust governance systems. That’s what gives investors confidence,” Brown says. “We’ve seen real reforms. We’ve seen transparency. We’ve seen changes in leadership, especially at NNPCL, that show Nigeria is serious,” he concludes. “Nigeria is open for business, and Seplat is living proof of what’s possible when you lead with belief, strategy, and integrity.” With bold leadership, a clear vision, and deep national roots, Seplat Energy is not just keeping pace with Nigeria’s Decade of Gas—it’s leading the way.

SanlamAllianz Nigerian Integration Sparks Industry Buzz

 

Two of the biggest names in global and African non-banking finance and insurance services, Sanlam and Allianz, have sparked speculation in Nigeria’s insurance industry following a wave of coordinated digital communication activities indicating an imminent completion of the expected merger of the operations in Africa’s largest economy.

The firms, which have already merged operations in 27 African countries, including Ghana and Rwanda, under the SanlamAllianz banner, are now widely believed to be ramping up their alliance in Nigeria as the next significant step in their partnership.
Recent posts on both companies’ digital platforms featuring their logos side-by-side and joint thematic messaging have drawn attention across financial and business circles. The coordinated activity mirrors pre-merger patterns observed in other African markets where their collaboration was subsequently formalised.

 

In 2022, Sanlam and Allianz announced the formation of a strategic joint venture covering 27 African markets. The move was intended to combine Sanlam’s local market depth with Allianz’s global scale and technical expertise, creating a formidable pan-African financial services entity with ambitions to lead in life and general insurance, asset management, and health insurance.

 

The partnership has taken concrete shape in countries like Ghana, where existing operations have been unified and rebranded under the SanlamAllianz name. The goal has been to offer more relevant, inclusive, and tech-forward financial solutions for individuals and businesses in these markets.
Nigeria is the continent’s most populous nation and its largest economy, yet despite recent progress, its insurance penetration remains under 1%. In 2023, the industry crossed the ₦1 trillion gross written premium mark for the first time, indicating untapped potential and growing consumer interest in financial protection.

 

Given these dynamics, analysts say Nigeria is a natural next step in the SanlamAllianz expansion journey. The presence of both logos in coordinated messaging has been read as a signal of intent. Both brands already operate in Nigeria, and a merger of local operations would represent a formidable alliance and substantial consolidation.

 

Market observers believe such a move could raise the bar in Nigeria’s insurance industry, fostering more robust competition, improved product design, and greater consumer trust in formal financial services. It would also align with both firms’ broader objective of promoting financial inclusion and building long-term resilience across African economies.

 

At a time when several global brands are reassessing their African strategies, Sanlam and Allianz’s continued commitment affirms their vote of confidence in Nigeria’s long-term prospects. This potential merger could not only reshape the insurance landscape but will also evidently become a significant catalyst and signal to the global investment community that Nigeria remains a viable and valuable market.

SEC Sounds Alarm On Ponzi Schemes, Calls For Vigilance To Safeguard Investors, Economy


 

 

The Securities and Exchange Commission (SEC) has sounded a renewed warning on the dangers of Ponzi schemes, highlighting their devastating impact on investor confidence, financial stability, and the Nigerian capital market.

This was the central theme of a paper titled “Ponzi Schemes: Avoiding the Pitfalls of Illegality” presented by Head of the Enforcement Department of the SEC, Dr. Sa’ad Abdulsalam at the Capital Market Enlightenment Programme organized by the Capital Market Correspondents Association of Nigeria (CAMCAN).

Abdulsalam noted that the proliferation of fraudulent investment schemes continues to erode public trust in formal investment platforms. By offering unrealistic returns and operating outside the regulatory framework, destabilized investor sentiment and undermined participation in legitimate capital market activities.

“The erosion of market confidence caused by Ponzi schemes leads to significant volatility and reduced investor engagement,” he said. “The fallout not only damages individual finances but also tarnishes the reputation of regulatory institutions tasked with protecting investor interests.”

Beyond the capital market, Abdulsalam emphasized that the social and economic consequences of Ponzi schemes are far-reaching. Household financial losses, often involving life savings or borrowed funds, intensify socio-economic stress and threaten community cohesion.

“These losses are not just figures on a balance sheet,” he explained. “They represent broken trust, devastated livelihoods, and increased poverty in affected communities.”

Nigeria has a long and troubling history with Ponzi operations. According to Abdulsalam, from the infamous Umanah Umanah scheme in the 1990s to Nospecto in the early 2000s and the widespread MMM craze of the 2010s, fraudulent fund managers have repeatedly exploited regulatory gaps and economic vulnerabilities.

Abdulsalam noted that over 400 unlicensed fund managers were uncovered in 2010 alone, underscoring the scale of the threat.

He attributed the rise of Ponzi schemes to several factors, including limited financial literacy, the lure of quick returns during periods of economic hardship, and the rapid spread of misinformation through social media.

Abdulsalam who admitted that curbing the menace has proved difficult for regulators, especially in the face of evolving digital platforms and increasing sophistication of fraudulent actors, explained that resource constraints remain a significant hurdle for the SEC and other enforcement agencies.

“Ponzi schemes are multiplying geometrically, and our response must evolve at a similar pace,” he said. “The lack of investor education and the impact of economic downturns are making more people susceptible to these traps.”

He noted that to address the threat, the SEC has intensified investor education efforts and strengthened its enforcement toolkit. Public warnings and notices have been issued regularly, while the names of registered capital market operators are published on the SEC’s official website to help investors verify legitimacy before committing funds.

“Educational initiatives have also been integrated into school curricula and segmented across various demographics through workshops, radio campaigns, television programming, and social media engagement. These efforts aim to equip Nigerians with the tools to identify and avoid fraudulent investment schemes.

“When illegal operations are detected, the Commission takes swift action.We do not hesitate to seal off premises involved in unlawful investment activities,” Abdulsalam said.

In addition to administrative measures, he said SEC has pursued both civil cases through the Investments and Securities Tribunal (IST) and criminal prosecutions in collaboration with the police and the Office of the Attorney General of the Federation (AGF).

According to him, the SEC has also prioritized interagency collaboration as a core strategy in tackling financial crimes. Through the Financial Services Regulation Coordinating Committee—which includes the Central Bank of Nigeria (CBN), Corporate Affairs Commission (CAC), Nigeria Deposit Insurance Corporation (NDIC), and others—the Commission is working to establish a unified front in the fight against Ponzi operators.

“Ponzi schemes do not respect boundaries. Our enforcement must be equally coordinated across regulatory jurisdictions,” Abdulsalam emphasized.

The SEC’s message remains clear: investors must exercise caution, verify information, and avoid schemes that promise returns too good to be true. The Commission reaffirmed its commitment to creating a safer investment climate but stressed that the public also has a role to play in protecting themselves and others. “Capital markets can only thrive in an environment of trust and transparency,” Abdulsalam concluded. “Together, through vigilance, education, and collaboration, we can shield our economy from the destructive force of Ponzi schemes.”

NLNG Commences Human Capital Training Initiative Amid Train 7 Project

Group photo of participants in the NLNG Train 7 Project Human Capital Development (HCD) Basic Training Supplementary Programme, Port Harcourt.

NLNG says it is committed to building Nigerian capacity as it launches its Train 7 Project Human Capital Development (HCD) Basic Training Supplementary Programme in Port Harcourt today.

The event, which took place in The Hotel Presidential Port Harcourt, was graced by officials from the Nigerian Content Development and Monitoring Board (NCDMB), including Mrs. Tarilate Teide-Bribena, Manager, Human Capital Development, alongside members of the NLNG Management Team, training facilitators, and the newest cohort of beneficiaries.

In his keynote speech, NLNG’s Nigerian Content Development Manager, Engr. Dagogo Buowari, (FNSE), described the programme as a milestone in NLNG’s broader commitment to achieving Nigerian Content targets and empowering the nation’s youth through skills-based development.

“This initiative further strengthens NLNG’s role in supporting Nigerian Content development, especially within the ongoing Train 7 Project. We are proud to sustain this momentum in collaboration with the NCDMB, whose visionary support continues to drive human capital development across Nigeria,” he stated.

The supplementary training is an expansion of the Train 7 HCD Basic Training Programme. It offers two distinct learning tracks designed to meet the diverse needs of participants: structured theoretical modules through classroom training, and practical, field-based experience through hands-on training. Each of these components follow a carefully developed curriculum with specific milestones to ensure that trainees graduate with both industry-relevant knowledge and applied technical competence.

“For the trainees, this is not just a learning programme—it is a launchpad for your professional journey,” Engr. Buowari noted. “I urge you to commit fully, complete all required modules, and take the certification process seriously. This experience could define your future.”

Beyond technical training, the programme is structured to holistically support the personal and professional development of each participant. Trainees will have access to healthcare services through Reliance HMO, ensuring their wellness throughout the training period.

They will also be enrolled in mentorship programmes designed to provide guidance from seasoned professionals in the oil and gas industry. Additionally, wellness and support services, including counselling and emotional support resources, will be available to help participants maintain balance and resilience. Regular performance reviews and career counselling sessions will ensure each trainee’s progress aligns with their long-term professional aspirations.

These offerings reflect NLNG’s commitment not only to skill acquisition but also to developing well-rounded professionals capable of thriving in dynamic and demanding environments.

Engr. Buowari, during the ceremony, also recognized the dedication of NLNG staff and project teams whose tireless work behind the scenes made the programme’s expansion a reality. “Many hands within NLNG have worked tirelessly to make today a success. From those present in this room to others handling business-critical operations elsewhere, we say thank you. Your efforts are contributing to a more sustainable and empowered Nigeria,” he remarked.

The Train 7 Project, a significant expansion of NLNG’s production capacity, continues to align with Nigeria’s national vision for local content, inclusive growth, and youth empowerment. Through initiatives such as this training programme, NLNG is reaffirming its purpose-driven mission of “Inspiring a Sustainable Future.”