16 October 2025 Archives

All Posts in "Day: October 16, 2025"

Zedcrest GMD Charges Businesses, Organisations on Stronger Ethical Governance for Sustainable Growth

L-R: Chairman, Presidential Committee on Fiscal Policy & Tax Reforms, Taiwo Oyedele; Chairperson, Coronation Life Assurance Limited, Susanne Iroche; President & Board Chairman SCGN, Muhammad K. Ahmad, OON, GMD Zedcrest Group, Adedayo Amzat, CFA. Top L-R: Director, Nigeria Credit Guarantee Company (NCGC), Yeside Kazeem; and CEO, LeadRight Consultant, South Africa, Kim Andersen.

As Nigeria continues to navigate the novelty and uncertainty of an increasingly disrupted world, businesses, regulators, and other key stakeholders have been charged to adopt and prioritize ethical leadership and governance systems within their organizations to ensure long-term success.

The Group Managing Director, Zedcrest Group, Adedayo Amzat, CFA, made this call while fielding questions from journalists at the 20th Anniversary Corporate Governance Conference of the Society for Corporate Governance Nigeria (SCGN), held in Lagos.

At the conference, Amzat moderated a high-level panel session on the theme: “Strengthening Ethical Governance in a Disrupted World: Reflections of Governance Journey for a Sustainable Future,” featuring distinguished speakers including the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele; Director, Nigeria Credit Guarantee Company (NCGC), Yeside Kazeem; Chairperson, Coronation Life Assurance Limited, Susanne Iroche; and CEO, LeadRight Consultant, South Africa, Kim Andersen.

According to the Group Managing Director, Zedcrest Group, Adedayo Amzat, CFA, to guarantee longevity, profitability, and overall success, ethical governance must serve as the beacon that guides decision-making at all levels of a business or organization. “When it comes to choosing between ethical governance and the immediate profit objectives of companies, the balance should tilt towards the former, because ethical governance is about purpose, and purpose guarantees profit in the long term. When a company focuses solely on profit, it is usually short-term. If you pursue profit without governance, you risk collapse in the long term.”

The Zedcrest boss further emphasized that boards and businesses must move beyond viewing ethical governance as a mere checklist item and instead, take proactive steps to ensure it is deeply embedded in the conscience of their organizations.

In her keynote address, former Minister of Communication Technology, Dr. Omobola Johnson, highlighted the sustained impact of the COVID-19 pandemic, climate change, the abrupt end of the country’s fuel subsidy regime, foreign exchange fluctuations, and the increasing adoption of artificial intelligence (AI) as some key indicators of a rapidly evolving and disrupted world.

“The definition of success has now evolved and boards are challenged to find a wider-range of factors that indicate their companies resilience, and ability to thrive which means going beyond traditional financial metrics like profitability and shareholder value, to include sustainability and ESG, employee engagement and retention, ethical deployment of technology and cyber resilience.” She said.

Former Minister of Communication Technology, Dr. Omobola Johnson also stressed that with the growing adoption of Artificial Intelligence, boards must ensure that the company’s pursuit of productivity does not come at the expense of its people. “With the advent of AI, Large Language Models (LLMs) and Agentic AI, which are reducing the need for human involvement in many tasks, the drive for productivity and better financial performance through a reduction of humans in the workforce is very compelling. As AI drives the quest for efficiency, the board’s role shifts from merely monitoring financial performance targets to being the ethical compass of the organization. Clear, ethical and appropriate guardrails must be established for AI deployment.”

While delivering his welcome address, the President and Board Chairman of the Society for Corporate Governance Nigeria (SCGN), Muhammad K. Ahmad, OON, described the conference as a platform for the Society’s fellows, members, partners, and the general public to reflect on the governance journey so far and to chart a course for the future. He described the theme of the conference as particularly significant as it highlights the ethical dimensions of the roles of directors, members, and chairpersons of various boards in building enduring institutions in an ever-changing, disruptive world.

Mr. Ahmad further urged decision-makers to uphold the values of transparency, integrity, fairness, and accountability by consistently choosing to do what is right rather than taking the easy way out.

by Online Poster — October 16, 2025 in News

MAN, UNIDO Lament Low Manufacturing Contribution to GDP

By Fidelia Okafor

•Describe FG’s Nigeria’s First policy as rallying call for economic revival

The Manufacturers Association of Nigeria (MAN) and the United Nations Industrial Development Organisation (UNIDO) have bemoaned the declining contribution of the manufacturing sector to Nigeria’s Gross Domestic Product (GDP) over the past decade and what they described as the country’s shift from production to consumption.

They made these observations Tuesday in Lagos, at the opening ceremony of a 3-Day Made-in-Nigeria Exhibition (MiNE) with the theme “Nigeria First: Prioritising Patronage of Made-in-Nigeria,” which was part of the activities marking the 53rd Annual General Meeting (AGM) of MAN.

The President of MAN, Mr. Francis Meshioye, in his welcome address, decried the continued shrinking of the Nigerian manufacturing sector and the troubling shift of the Nigerian economy from production to consumption.

Meshioye, however, described the Nigeria First policy, which advocates for prioritised patronage of Made-in-Nigeria products, as a rallying call that speaks directly to Nigeria’s economic survival and long-term transformation.

He said: “Recent developments in the economy remind us of the urgency of this call.

“In particular, the figures from the rebased Nigerian Gross Domestic Product (GDP), published by the National Bureau of Statistics, are striking.

“It shows that industry’s share of GDP declined from 27.65 per cent in the 2010 base year to 21.08 per cent under the 2019 rebased structure.

“Moreover, the manufacturing sector’s average 5-year performance is negative (–0.76 per cent), particularly between 2019 and 2024, whilst sectors such as services and agriculture expanded!

“This underscores a deeper concern. Nigeria’s industrial base continues to shrink. In essence, the rebased GDP figures signal a troubling shift from production to consumption; and from production to services and informal value creation.

“This is definitely not sustainable.”

Meshioye argued that if Nigeria “will build a resilient, inclusive and forward-looking economy that investors will have confidence in, we must re-industrialise, and that process must begin with deliberate support for local manufacturers.”

He explained that “The ‘Nigeria First’ agenda is not about closing our doors to the world; it is about opening the right doors to Nigerian-made solutions, Nigerian jobs, and Nigerian ingenuity.”

He also called for a legislation that would codify the prioritisation of Made-in-Nigeria in legal framework with institutionilised mechanism that would ensure full implementation, enforcement and monitoring of the execution of Nigeria First policy with provisions for consequences for non-compliance.

“We should eliminate the prevalence of selective compliance. Now is the time to create the policy framework for transitioning the Nigeria First policy from executive pronouncements to legislative imperative and ultimately to unfettered and bold implementation.

“We cannot continue to allow policy inertia to undermine our development potential,” Meshioye said.

He added that beyond policy enforcement, Nigeria, “must also establish a functional, independent compliance agency or institution tasked with auditing patronage levels, recommending corrective action, and publicly disclosing performance across Ministries, Departments and Agencies of government.

“Let it be known which institutions are genuinely driving local economic empowerment and those that are not. And we should take evident and far reaching corrective and disciplinary measures against the latter. Only then can we truly align government spending with our industrial policy goals.”

The president of MAN also stated that corporate Nigeria also has a responsibility to align with the “Nigeria First” vision of Mr. President, arguing that “multinationals, conglomerates, and large procurement organisations must look within for raw materials, packaging, and inputs.

“Many of these are already produced locally to global standards and should not be overlooked due to legacy procurement practices or cost assumptions that no longer hold true when long-term economic value is properly considered.”

Speaking in the same vein in his keynote speech as the special guest of honour at the MiNE, the UNIDO Representative in Nigeria, Amb. Philbert Abaka Johnson, said Tinubu’s Nigeria First policy offered a clear pathway to scale domestic patronage of Nigerian products and services.

Johnson, therefore, emphasised that “the call to ‘prioritise patronage of Made-in-Nigeria’ must go beyond rhetoric and patriotic sentiments.”

He said that the call, “is a strategic economic proposition that can only succeed with deliberate, coherent and coordinated action at all levels of Nigerian society.

“Nigeria First’ is therefore not about isolation. It is about intelligent integration. It is about ensuring that Nigerian producers have a fair chance to compete, to scale and to contribute meaningfully to national development.”

Johnson said Nigeria First was about ensuring that every public procurement decision, every corporate purchase and every consumer choice help build local capacity and strengthen the national value.

He said: “It means efficient production, responsible consumption, quality products and value addition.”

He said that UNIDO firmly believed that strong manufacturing base is the bedrock of sustainable development.

“Yet, as rightly noted by the president of MAN, the sector’s share of the GDP has declined over the past decade.

“To reverse this trend, our intervention must be sound, deliberate, coherent, and coordinated across following four interlinked drivers of competitiveness: infrastructure and energy reliability, access to finance, skills and technology, market access and trade facilitation,” Johnson said.

He also recommended that institutional monitoring, periodic evaluation, transparent reporting and capacity development would ensure that local content meant high-quality content.

“When Nigerian products are trusted, they will be patronised and not just at home but globally,” Johnson said.

by Online Poster — October 16, 2025 in Industry

Experts Highlight Innovative Revenue Models As Pinnacle Unveils Flagship Platform ‘Pinnacle Daily’s

Experts have highlighted innovative revenue models that media platforms must adopt to operate sustainably in the digital age.
They gave the highlights on Tuesday, October 15, during the formal launch of ‘Pinnacle Daily’ a flagship news platform powered by Pinnacle Digital Resources Limited.

Delivering his keynote titled, ‘The Economics of Media Business: Understanding Revenue Models and Profitability,’ Isiaq Ajibola
‎co-founder and former managing director of Daily Trust newspaper, said prior to the advent of digital media, newspapers had predictable revenue streams – mostly through print copy sales and advertisements- that sustained the newsroom, but that has changed today.
Ajobola observed that with the advent of online platforms, readers no longer have to wait for 24 hours to read news on papers as they want breaking news, analysis, video, commentary, and conversations which are now available in real time.

This trend, he said, has changed media business, hence the need for innovative strategies for generating revenues.
“It has become necessary for everyone in the media to evolve or risk going to the oblivion,” Ajibola stated.
“The shift from print to digital has transformed the traditional media business model. Yet, it has also opened new revenue opportunities.”

He highlighted some revenue models that digital media platforms can adopt which include, digital advertising (which enables advertisers to reach readers based on demographics, interests, and browsing history), sponsored contents, subscription and premium contents, brand partnerships, and events and conferences.
The veteran journalist and media entrepreneur advised media organisations to invest in human capital, technology deployment and also focus on adept management of profitability for sustainable revenue flow.

Earlier in his welcome address, Chairman Pinnacle Digital Resources Limited, Mr Abimbola Adeseyoju, noted the dramatic changes in the media landscape over the past three decades due to the advancement of internet and telecommunication technologies.

He said the development has forced traditional media platforms to innovate ways of generating revenues to survive economically.

“Both the Internet and telecommunication innovations have
drastically altered the way we produce and consume news. Many
of us in the media industry had been forced to go back to the drawing board to survive economically,” Adeseyoju stated.

He advised that with the changing audience needs influenced by disruptive tendencies of information technologies, media organisations should “focus on the consumers and not the technology.”

According to him, “Technology is just a tool. What we need to keep
understanding is the needs, peculiarities and preferences of the
consumers of our various news products and services.”

He said the idea behind setting up Pinnacle Daily is to serve as a digital media outlet that makes significant positive impacts on the lives of new generation of media consumers by offering quality contents that meet their daily information needs on employment, career, health, education, leisure, entertainment, finance, business opportunities, wealth creation and many more.

While reflecting on the journey towards creation of the media company, the Pinnacle Digital Resources Chairman paid special tribute to former Chairman of the Economic and Financial Crimes Commission (EFCC), DIG Ibrahim Lamorde, who was a pioneer
director of Pinnacle.

According to him, Lamorde was very passionate about the idea of transforming the media landscape in Nigeria through the use of new technologies.
“We are here today as a testament of that belief that Pinnacle is going to
change the trajectory and direction of digital news channels in Nigeria,” he stated.
He called for a minute silence in honour of the late former anti-corruption czar and prayed that Allah may continue to grant him eternal rest.

Minister of Information and National Orientation, Mohammed Idris, commended the Pinnacle team for birthing the media platform, saying it demonstrates their faith in the importance of journalism in nation building.

Idris, who was represented by Dr Dili Ezughah, Executive Secretary, Nigeria Press Council, assured the readiness of the President Bola Tinubu’s administration to work with the press “to ensure democracy and aid in building a safe, sound and prosperous nation.”

The minister urged the media to always remember to adhere to the ethics of the profession to reflect truth, fairness, justice, social responsibility so they could always be justified, defended and applauded.
Chairman of the occasion, Chief Olusegun Osoba, said “Pinnacle Daily comes at a time when the journalism profession and the media are going through very dramatic changes.”

Osoba, who was represented by Chief Eric Teniola noted the challenges in the journalism profession such as fake news and misinformation aided by access to internet and mobile digital devices, and called on professionals to maintain strict adherence to ethical standards which are the hallmarks of true journalism practice.
“As professionals, especially for the elders and leaders in the profession, the onus is on us to show the light and lead the way in the preservation of journalism practice and standards, a duty I want to remind us all that we must never shy away from,” Osoba advised.

Other highlights of the Pinnacle Daily launch included a robust panel session on sustainable media practice in the era of online media.

The session, which was moderated by Adedeji Adekunle, Programme Director, West and East Africa, MDIF, had the following as panelists: Azu Ishiekwene, Editor-in-Chief, Leadership Media Group; Musikilu Mojeed, Editor-in-Chief Premium Times; Simon Kolawole, Founder and CEO, The Cable newspapers; Zainab Okino, former Kogi State Commissioner for Information; and Angela Agoawike, Founder and Principal Partner, Omalicha Media Network.

by Online Poster — October 16, 2025 in News

SEC DG Harps On Risk Reduction, Investor Confidence As Nigeria Moves To T+2 Settlement Cycle

The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has said that Nigeria’s transition to a T+2 settlement cycle in the capital market will significantly enhance market efficiency, reduce risks, and strengthen investor confidence.

Speaking at a Trade Associations Roundtable on “Ensuring Stakeholder Readiness for T+2 Settlement” held in Abuja on Wednesday, Agama said the migration from the current T+3 to T+2 cycle represents a strategic step toward aligning Nigeria’s capital market with global best practices.

According to him, the move is not just a technical reform but a major milestone that will make the Nigerian market more competitive and resilient.

He said: “A shorter settlement cycle is a hallmark of a mature, dynamic, and
competitive market. It directly addresses several key objectives: It significantly reduces counterparty risk and
market exposure. The less time between trade execution and final settlement, the lower the potential for a default to ripple
through the system.

“It boosts market liquidity by returning
capital to investors more quickly, allowing for its redeployment and fostering greater market activity. It aligns our market with international best practices, enhancing our attractiveness to foreign investment
and reinforcing Nigeria’s position as a key player in the global financial arena.

“Ultimately, a more efficient and safer settlement system strengthens the bedrock of our market—investor confidence”.

Dr. Agama explained that by shortening the time between trade execution and final settlement, the T+2 system will lower market exposure and minimize the potential for defaults, adding that faster settlement would improve liquidity by returning capital to investors sooner, enabling them to reinvest and contribute to greater market activity.

He noted that many advanced markets are already moving toward T+1 settlements, adding that Nigeria must continue to evolve to remain globally relevant.

“The global financial landscape is constantly changing, driven by technology and investor demand for efficiency. The transition to T+2 is, therefore, a strategic imperative to keep our market competitive and future-ready,” he said.

The SEC boss emphasized that the success of the transition depends on the collective readiness of all market participants — from brokers and custodians to clearing houses and investors. He urged trade associations to take a leading role in preparing their members for the operational and technological changes that the new system will require.

“Your readiness and that of your members is the single most important determinant of our success. This means recalibrating back-office operations, upgrading technology systems, streamlining settlement processes, and ensuring that all market participants are informed and prepared,” he said.

Dr. Agama assured stakeholders that the Commission would work closely with trade associations, market operators, and Financial Market Infrastructures such as the Nigerian Exchange Limited and the Central Securities Clearing System to ensure a smooth and coordinated transition.

He said the Commission would also intensify investor education and awareness campaigns to ensure that all market participants understand the implications and benefits of the change.

“The move to T+2 is a necessary leap forward for the Nigerian capital market. It is a testament to our collective ambition to build a market that is efficient, resilient, and globally competitive,” he stated.

Agama called on stakeholders to engage constructively and collaboratively to identify potential bottlenecks, share best practices, and agree on a clear roadmap for implementation.

He reaffirmed SEC’s commitment to providing the necessary regulatory support and guidance, urging all market participants to work together to make the T+2 transition a “resounding success and a proud milestone” for Nigeria’s financial markets.

by Online Poster — October 16, 2025 in Capital Market

Pivot Nigeria 2025: ‘Reframing The Lens’ Inspires A Positive National Narrative

Pivot Nigeria: Reframing the Lens is a national thoughtleadership platform created to reset Nigeria’s reputation agenda.

Relations Professionals (HighStakes PR Professionals), Pivot Nigeria catalyses dialogue to inspire pride, amplify authentic narratives, and co-create a stronger, more balanced Nigeria narrative.

The inaugural Pivot Nigeria Conference held recently, brought together thought leaders, innovators,

journalists, entrepreneurs and youth to emphasize the urgent need for Nigerians to own and shape Nigeria’s narrative.

The conference blended high-impact keynotes, panels and hands-on co-creation

labs to inspire action.

Urging attendees to become ambassadors of truth and optimism for Nigeria, Pivot Nigeria convener, Victoria Uwadoka-Anyianuka set the tone: “We are not here to complain or to lament; we are here to reframe the lens on how we see ourselves as Nigerians. Changing how others see us starts with how

we present and represent ourselves. Our mission is to challenge the prevailing narratives, to spotlight

authentic stories, and to co-create a narrative that reflects Nigeria’s true story.”

The conviction that Nigerians must first change how they see themselves before looking for external validation echoed throughout the day, from the keynote and plenary sessions to the co-creation labs.

The conference focused on culture as capital, who tells our story and why it matters, reconciling criticism with commitment, and the role of the media in changing the narrative.

Mr. Richard Mofe-Damijo, Nigerian actor, lawyer, filmmaker, and cultural icon popularly known as RMD spoke about the paradoxes of Nigeria: “Nigeria is a beautiful country. It is a great country. On

the one hand, it can frustrate you to the point where you feel like ‘I’m getting out.’ But on the other hand, it can give you so much that you’ll be wondering why it took you so long to unlock the keys that give you entrance to the bountiful opportunities that you find in Nigeria.”

He added that Nigeria, as a country, needs to go back to the drawing board, to see who we are, “It is when you have articulated who you are that your people can see.”

On his part, Mr. Emeka Mba, Founder and CEO of AfiaTV said, “Who tells your story and how it is told is often how you are seen. Too often, our stories are told by outsiders. Building inclusive national narratives, consistent cultural diplomacy, and deliberate policies to rebuild trust are essential to shaping how the world perceives us. If you look at emerging news platforms like AfiaTV and News Central,

there is a deliberate editorial direction, a recognition of the power the media wields, and the duty it has to project balanced, accurate, and responsible portrayals of Nigeria, particularly to international audiences.”

Speaking in the same vein, Rosemary Egabor-Afolahan, Director, Commercial and Communications,

News Central TV said, “The story of Nigeria, in all its complexity, courage and brilliance, must no longer be told by others, through filters of fear or foreign bias. It must be told by us: boldly, responsibly, and completely. For far too long, the image reflected of Nigeria has been distorted,

reduced to the cliches of conflict, corruption, disease, and despair.”

Emphasizing the critical role of the media in changing the narrative, Rosemary added, “At NewsCentral TV, we took a stand. We chose to change the narrative not by ignoring the challenges, but by

contextualizing them, by highlighting progress alongside problems, and most importantly, by amplifying voices that are too often silenced and overlooked.”

Pivot Nigeria conference participants converted ideas into action in the co-creation labs and proffered solutions: reclaim Nigeria’s story through citizen action; promote balanced, indigenous storytelling;

embed civic education and national values in school curricula; leverage creative industries (film, music,fashion, tech) as soft-power engines; push for stronger accountability in governance; and scale Pivot

Nigeria through campus ambassadors and community chapters to sustain awareness about thecurrency of reputation as capital.

Nneka Isaac-Moses, Meche Isaac-Moses, Nina Anyianuka, Temitope Aina, and Nneamaka Nwadei highlighted narrative power as a tool of diplomacy, trade, and cohesion, urging collective action by the media and all stakeholders to reclaim the Nigeria story.

The “Pivot Nigeria: Reframing the Lens” initiative is a call for citizens, creatives, media houses, government institutions, the private sector and the diaspora to interrogate and reframe their presentation and representation of Nigeria, and to use their everyday platforms (including social

media) responsibly to reflect a balanced, authentic Nigeria narrative.

by Online Poster — October 16, 2025 in News

Vertiv Supports Nxtra’s Expansion In African Market

Nxtra and Vertiv handshake at GITEX Global

Wojtek Piorko, managing director for Africa at Vertiv

Vertiv, a global leader in critical digital infrastructure, is extending its collaboration with Airtel Africa through Nxtra, their Data Center division. Starting with Nigeria, this collaboration is a first step in Nxtra’s strategic objective of establishing one of the largest high-capacity data centre networks in Africa, strategically located in major cities and bolstered by its extensive operations experience in India.

“Nxtra has been a valued customer for nearly three decades,” said Karsten Winther, president of Europe, Middle East, and Africa (EMEA) for Vertiv. “This next chapter in our collaboration demonstrates the power of combining local support in Africa with international manufacturing and innovation.”

“As we invest into high capacity, high quality data centers for Africa, it was crucial to partner with a vendor who combines global capabilities with strong local presence,” said Yash Issur, CEO of Nxtra by Airtel Africa. “Vertiv’s extensive multinational expertise, coupled with their established service team in Africa, provides us the reliability and support we need. We’re particularly pleased to name Vertiv as a main vendor for the first project in Nigeria and extend a collaboration ranging from India to Africa.”

Planned growth across Africa

The Nigerian facility of 42 megawatts (MW) of capacity will be completed in a four-phase rollout process, expected to be fully operational by 2028. Vertiv will provide thermal management solutions and uninterruptible power supply (UPS) systems with batteries for the project, marking the start of a three-year rollout across Africa that will deliver energy-efficient, scalable, and reliable infrastructure. Vertiv will also provide commissioning, handover, and five years of maintenance services supported by its established Nigerian service team. This enables Nxtra’s facilities to have strong on-the-ground support for long-term operations.

Says Wojtek Piorko, managing director for Africa at Vertiv: “Africa’s growing, data-hungry population is a key driver of digital growth on the continent, and more data centres are required to meet this demand. Our collaboration in Africa with Nxtra marks an important milestone in strengthening Africa’s critical digital infrastructure. Together, we are bringing proven global expertise and advanced technology into Nigeria and beyond.”

In addition to the Nigerian site, Vertiv is also working with Nxtra on forward-looking projects in the markets where Airtel Africa operates, with the Nairobi-based operation anticipated to surpass the Nigerian site in scale.

by Online Poster — October 16, 2025 in News