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All Posts in "Month: October 2025"

Unity Bank Corpreneurship Challenge Beneficiaries Hit 578 As 30 More Winners Emerge

Amaka Obiefuna

No fewer than 578 young entrepreneurs across Nigeria have benefitted from Unity Bank’s Corpreneurship Challenge — the Bank’s flagship entrepreneurial development initiative launched a few years ago.

Over this period, the Bank has invested in supporting budding entrepreneurs across multiple sectors to start businesses, create jobs, and contribute to Nigeria’s economic growth.

The ongoing initiative recently produced 30 new winners, who received a total grant of ₦16 million during the Batch B, Stream II edition of the National Youth Service Corps (NYSC) orientation course, held across 10 states of the federation.

The winners, innovative young entrepreneurs developing solutions across various value chains such as fashion design, bag making, pastry and beverage production, event management, and vegetable farming, emerged after pitching their business ideas during the challenge at NYSC Orientation Camps in Lagos, Delta, Kaduna, Jigawa, Kwara, Benue, Abia, Kogi, Rivers, and Plateau States.

At the NYSC Orientation Camp in Ipaja, Lagos State, Fiyinfoluwa Titilayo Ojo, who pitched a soap-making enterprise, emerged the overall winner to clinch the ₦800,000 grand prize. Ndukwe Chiamaka Joan, with her innovative Small Chops business proposal, claimed ₦500,000 as first runner-up, while Barakat Modinat Olamide secured ₦300,000 to support her beverage-making venture.

Expressing her excitement after emerging as the overall winner in Lagos, Fiyinfoluwa Titilayo Ojo described the experience as life-changing, stating, “I’m truly grateful to Unity Bank for this opportunity. Winning the Corpreneurship Challenge has given me the push and confidence I needed to scale my soap-making business. Beyond the grant, the experience taught me how to structure my business better and believe in its potential. It’s amazing to see a bank that genuinely invests in young people’s dreams.”

Across the remaining nine states, 27 other winners also emerged after pitching diverse business ideas ranging from fish and poultry farming to printing, piggery, and cake production.

Over the past six years, the Unity Bank Corpreneurship Challenge has become an integral part of the NYSC programme, aligning with the Federal Government’s drive to upskill young graduates and promote entrepreneurship amid the scarcity of white-collar jobs. Each edition attracts thousands of entries from corps members whose business plans are evaluated for originality, marketability, job creation potential, and overall business acumen.

Speaking during the grand finale in Lagos, Unity Bank’s Divisional Head, Retail & SME, Mrs. Adenike Abimbola, reaffirmed the Bank’s commitment to empowering Nigerian youth through enterprise. She said:

“At Unity Bank, we believe that the energy and creativity of young Nigerians are vital to the nation’s economic transformation. The Corpreneurship Challenge is our way of nurturing this potential — by giving corps members the financial boost, mentorship, and confidence to turn their ideas into thriving businesses. Seeing over 578 young entrepreneurs already impacted motivates us to keep expanding the initiative and deepening our support for the SME ecosystem.”

The Corpreneurship Challenge has earned Unity Bank national recognition for its role in youth empowerment and job creation, attracting over 2,000 applicants per edition.

In partnership with the NYSC Skill Acquisition and Entrepreneurship Development (SAED) programme, the initiative continues to serve as a launchpad for youth-owned enterprises, offering grants of up to ₦800,000 to help corps members turn their business dreams into reality.

Online Poster by — October 17, 2025 in News
Trace In The City 2025 : Malta Guinness Brings Goodness To Campuses

By Winifred Bosa
 Malta Guinness, Nigeria’s premium malt drink renowned for fueling the greatness and positive energy of Nigerians, is bringing unstoppable energy to campuses across the country as a major sponsor of Trace In The City 2025, an electrifying campus tour that blends entertainment, education, and wellness in five Nigerian cities.
From Ibadan to Abuja, Calabar to Uyo, and Lagos, Trace In The City will light up campuses with unforgettable experiences designed to nourish the moment and empower students to live with vitality and purpose.
The tour kicked off at the University of Ibadan on October 14 and will be followed by stops at the University of Abuja on October 21, the University of Calabar on October 24, and the University of Uyo on October 28. The tour wraps up with the grand finale at Yaba College of Technology, Lagos, on October 31.
As part of its commitment to energizing Nigerian youth, Malta Guinness will bring its signature burst of positivity to each campus through the Malta Guinness booths where students can relax, play fun games like ludo, ayo, and enjoy ice-cold cans of Malta Guinness.
Students in the schools are in for a surprise as Malta Guinness is set to reward the best dancer on each campus with the Malta Guinness Steppers Challenge!
The brand is on a mission to find the school with the most goodness spirit with the Malta Guinness Goodness Challenge as students get a chance to rack points for their school with every interaction at Malta Guinness’ World of Goodness area.
Each stop will be brought to life with high-energy music, comedy, and campus talent showcases in collaboration with Trace, celebrating creativity and the unbreakable spirit of Nigerian youth.
Speaking on the partnership, Jerry Nwankwo, Brand Manager, Malta Guinness, said, “Malta Guinness has always been about driving the can-do spirit of Nigerians, especially young people. Through Trace In City, we’re connecting with students where they are, in an exciting, high-energy environment that inspires them to live well, learn, and have fun.”
He reiterated Malta Guinness’ commitment to always stand as a beacon of goodness and vitality, encouraging everyone to stay refreshed and energized in body, mind, and spirit.
Trace In The City is a campus tour and music programme by TRACE Naija that partners with unique brands like Malta Guinness to bring music, entertainment, and opportunities to university students in Nigeria.
 The programme features live performances by artists, games, and sometimes talent hunts, with the goal of connecting with young people and supporting emerging music creatives.
Online Poster by — October 17, 2025 in brands and Marketing
FITC Collaborates With NIBSS To Tackle Fraud In Financial Sector

By Winifred Bosa

The Financial Institutions Training Centre (FITC), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has announced the ‘ThinkNnovation Cybersecurity Conference 2025’, which would tackle sophisticated fraud schemes in the financial services sector, including cross-border ransomware attacks on governments and businesses.

In a statement released to the media, FITC stated that the theme for this year’s event, titled “Securing Tomorrow: Cyber Resilience, Intelligent Defense and the Architecture of Trust in a Borderless World’ will commence on October 22nd, 2025, at the Four Points by Sheraton, Victoria Island, Lagos.

Dr. Chizor Malize, MD/CEO of FITC said, “Cybercrime has become one of the most urgent threats facing Africa’s digital economy. From sophisticated fraud schemes in the financial services sector to cross-border ransomware attacks on governments and businesses, the cost of cyber insecurity is mounting at an alarming pace.”

In response, she revealed that FITC, Africa’s foremost knowledge and innovation-led institution, in partnership with the Nigeria Inter-Bank Settlement System (NIBSS), will be hosting this year’s conference.

This year’s theme, “Securing Tomorrow: Cyber Resilience, Intelligent Defense and the Architecture of Trust in a Borderless World,” reflects the critical need to strengthen Africa’s cyber defenses as digital transformation accelerates across every sector, she said.

The African digital economy is experiencing an unprecedented surge. Mobile payments, blockchain adoption, digital lending, and cross-border e-commerce are reshaping the financial and commercial landscape. Yet, this rapid expansion has come with staggering risks. According to the African Union’s Cybersecurity Outlook 2024, cybercrime costs the continent an estimated $4 billion annually, with Nigeria, Kenya, and South Africa accounting for more than half of the losses.

Criminals are shifting from high-volume attacks to precision-targeted strikes that exploit systemic vulnerabilities. In Nigeria alone, industry reports reveal multi-billion-naira losses linked to phishing, insider collusion, ransomware, and large-scale fraud schemes that directly undermine trust in financial services.

“As Africa moves boldly into the digital age, its economic future depends on one word — trust,” adding that “ThinkNnovation 2025 is not just another conference; it is a platform for urgent dialogue and concrete action. We must design cyber resilience into every layer of our systems — payments, identity, regulation, and infrastructure — if Africa is to secure its digital tomorrow.”

The ThinkNnovation Cybersecurity Conference 2025 is designed as a response platform, bringing together regulators, CIOs, CISOs, CROs, bank executives, fintech founders, policymakers, and international experts to confront the continent’s most pressing cybersecurity challenges.

Unlike generic tech events, ThinkNnovation is structured as a solution-driven convening, with sessions curated to foster actionable strategies, policy frameworks, and collaborative defenses. Delegates will engage through high-level keynotes, dynamic plenary discussions, investigative panels, and simulation exercises that replicate real-world attack scenarios on financial networks.

The conference programme will spotlight urgent themes at the intersection of security, trust, and digital growth, including: The New Face of Financial Crime – Moving from fraud volume to fraud value, and how institutions can adapt defenses.

Others are Zero Trust in Practice – Applying zero trust principles across payments, digital identity, and authentication systems, Cybersecurity & Regulation – Smart oversight as a pathway to systemic stability, the Human Factor – Insider threats, workforce readiness, and cultivating a security-first culture, the Global Lens – Insights from global breaches and lessons for Africa’s financial ecosystem, and Emerging Risks – AI-driven threats, deepfakes, and the vulnerabilities of next-gen technologies.

The central thesis of ThinkNnovation is that cyber resilience cannot be achieved in isolation. Across Africa, the financial ecosystem has become deeply interconnected, with banks, fintechs, regulators, telcos, and governments increasingly reliant on shared infrastructure and digital platforms. In this environment, the actions—or inactions—of one institution can have ripple effects across entire markets.

Over the years, institutions such as the Nigeria Inter-Bank Settlement System (NIBSS) have played a pivotal role in fostering collective defenses and standardizing frameworks that enable safer, more efficient digital transactions across the financial services industry. These efforts underscore a growing recognition that fragmented approaches are no longer sufficient in the face of cybercriminal networks that are global, coordinated, and constantly evolving.

The ThinkNnovation Cybersecurity Conference 2025 builds on this momentum by providing a neutral platform for dialogue, knowledge exchange, and collaboration. It is designed to enable stakeholders to move beyond conversations and toward practical solutions—whether through the development of joint cybersecurity frameworks, the issuance of policy communiqués, or the creation of new public-private partnerships.

Online Poster by — October 17, 2025 in News
SEC, SMEDAN sign MoU To boost SME Access To Capital Market

SEC, SMEDAN sign MoU to boost SME access to capital market - Nairametrics

……… Over 40m small businesses To Benefit From Improved Financing Options

 

Amaka Obiefuna

 

The Securities and Exchange Commission (SEC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have signed a Memorandum of Understanding (MoU) aimed at improving access to long-term financing for small and medium enterprises (SMEs) through the Nigerian capital market.

The partnership is designed to create alternative sources of capital for the country’s over 40 million registered micro, small, and medium enterprises (MSMEs), helping them grow, create jobs, and contribute to the Federal Government’s $1 trillion economy target.

Speaking at the signing ceremony in Abuja, Director-General of the SEC, Dr. Emomotimi Agama, said the initiative would open new funding routes for SMEs and integrate them into the capital market ecosystem.

“Capital is the bedrock of any company. Today we have about 40 million Small and Medium Enterprises that are duly registered with Small and Medium Enterprises Development Agency of Nigeria and it is important that as a capital market, we are able to find a route for these small and Medium Scale enterprises to be able to raise capital for sustainability.

“We also want to bring them on board the pipeline of listed companies in Nigeria where they will be able to democratize wealth and share a part of their institutions with Nigerians making sure that development is faster and to lead to the growth of the economy,” he stated.

He added that the collaboration aligns with President Bola Tinubu’s agenda on employment, growth, development, and production, describing it as a critical step toward achieving the administration’s trillion-dollar economy vision.

 

On his part, SMEDAN Director-General, Mr. Charles Odii, said the MoU would enable small businesses to overcome the high cost and scarcity of capital by leveraging the capital market.

“Capital in this part of the world is very expensive and scarce,” Odii said. “Through this collaboration, we are creating another source of financing for our medium-scale businesses. We have set ourselves a target of at least 1,000 SMEs listing on the capital market. This will galvanize growth, create wealth, and reduce unemployment in Nigeria.”

The agreement between the two agencies seeks to deepen the integration of MSMEs into the formal financial system and help them meet regulatory and governance standards required for market participation.

Among its major benefits, the MoU will improve access to long-term financing by supporting qualifying MSMEs to raise funds through equity or debt securities under SEC regulations. It also provides for capacity building, as both agencies will organize training and awareness programs to educate SMEs on capital market participation, financial literacy, and corporate governance.

In addition, the SEC will contribute to SMEDAN’s five-year strategic policy framework to promote inclusive financing and SME-friendly capital market policies. SMEDAN, on its part, will identify and encourage qualifying SMEs to list on recognized exchanges, expanding their access to funding and business growth opportunities.

The collaboration will also facilitate debt market participation by guiding creditworthy SMEs to issue debt securities to qualified investors, thereby widening their financing options beyond traditional bank loans. Both institutions will jointly organize a three-day national SME conference to engage stakeholders, promote market opportunities, and drive policy discussions.

The MoU further provides for the establishment of a Joint Working Group (JWG) to monitor implementation, as well as mechanisms for data sharing in line with the Nigeria Data Protection Act, 2023.

Online Poster by — October 17, 2025 in Capital Market
November 8: Stakeholders Meet Anambra  Transport Forum To Ensure Peaceful Election 

By Nnedinma Michael
Anambra Peace and Mediation Working Committee, an initiative  of Kimpact Development  Initiative ( KDI), recently paid a courtesy visit to  Joint Transporters Forum Anambra  State.
The Kimpact group disclosed to the forum the importance of passing information to the road transporters on the peaceful conduct of the election in the state.
The mandate of Kimpact, a non governmental organization with the aim to mitigate conflict, using the pre-election security  risk assessment finding is to advocate for the peaceful electioneering campaign before, during and after election across all the political parties.
Speaking during the visit, the President, Joint Transporters Forum, Anambra State,  Rev. Elvis Oliver Okolie said there was need for security agencies and Independent National  Electoral Commission (INEC) to take a stronger stance against electoral  violence and apathy.
He emphasised the need to hold  leaders accountable  and ensuring the integrity of the electoral process, even as he highlighted the role of various stakeholders, including the security  sector in promoting  peaceful and credible  election.
He pointed out that INEC officials, security agencies and politicians have major roles to play in ensuring peaceful election, urging the stakeholders to take responsibility and work towards creating an environment that promotes  free and fair election.
” The problems are not from the transport sector. Often,  individuals are exploited  and manipulated by those in power. These individuals  are not inherently violent or prone to thuggery, but rather, they are often forced into difficult situations due to economic hardship and lack of opportunities.”
He encouraged his group  not to vote out of their conscience.
Head, Research and Strategy, Kimpact  Development Initiative, Oluwafemi John Adebayo, said the meeting with the Joint Transporters Forum was to encourage the transporters to prioritise  peace and not allow themselves to be used by politicians to foment trouble.
He advised Ndi Anambra to come out and vote for the candidate of their choices, emphasising the importance of high voter turnout to avoid a repeat of the low turnout in 2021.
 “The focus is on promoting  peace, stability and progress in the state.”
Alhaji Garba Haruna, representing Hausa community in Anambra  State said he was expecting the transport forum to play a key role in promoting peace during the November  Election in the state, believing they have the capacity to influence their members and ensure that peace is maintained.
He added that Anambra is one of the peaceful and unity states, urging them to see the state as their home and work towards a peaceful  election process.
State Chairman, Tricycle  Owners Association of Nigeria, Comrade, Donatus Ezeanuka, State  Chairman,  Association of Taxi Car Operators, Chief Okoli Chekwube Lucky,
Secretary General, Tricycle Owners Association of Nigeria, Hon. Ufoh Linus, in their separate speeches, said they were working with the government on the ground according to rule of law, not with miscreants or touts, adding that with this advocate, “we will achieve greater society. We will disseminate this information as law abiding citizens.”
Online Poster by — October 17, 2025 in News
UBA Set to Unveil Whitepaper on Africa’s Financial Infrastructure

UBA set to unveil whitepaper on Africa's Financial Infrastructure - ThePointNG

By Fidelia Okafor 
Africa’s Global Bank, United Bank for Africa (UBA) Plc, is set to reinforce its role in shaping the continent’s financial ecosystem with the launch of its landmark whitepaper.
The whitepaper, titled “Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth,” will be unveiled on the sidelines of the World Bank-International Monetary Fund (IMF) Annual Meetings in October 2025 in Washington, D.C., placing Africa’s economic agenda at the heart of global financial discussions.
The document presents a comprehensive and actionable framework for unlocking Africa’s vast economic potential, providing analysis of critical growth pillars including trade facilitation, infrastructure development, digital innovation, climate finance, and inclusive growth, while showcasing strategies for leveraging domestic capital alongside strategic global partnerships to access the continent’s $3.4 trillion single market potential under the African Continental Free Trade Area (AfCFTA).
UBA’s Group Chairman, Tony Elumelu, who emphasised the strategic importance of this whitepaper, explained that over the past few years, the bank has become an active leader in conversations and activities that drive tangible investments to the continent.
“UBA is shifting Africa’s development agenda from talk to action. With this whitepaper, we are championing initiatives that convert strategic dialogue into bankable projects and direct investments. Our commitment to execute these plans for the benefit of the continent and its people cannot be overemphasised,” Elumelu said. “We are committed partners in Africa’s development and sustainability and will continue to provide the capital, the platform, and the network needed to transform Africa’s vast potential into economic growth.”
UBA’s Group Managing Director and Chief Executive Officer, Oliver Alawuba, remarked on the white paper’s significance, highlighting the urgent need for private sector leadership.
“This whitepaper is a call to action and a statement of our capability,” Alawuba said. “It underlines our unique position in facilitating the partnerships and capital flows required to finance Africa’s future, providing the blueprint for action. The document delivers critical insights at a defining moment for Africa’s financial infrastructure.”
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with more than 25,000 employees group-wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France, and the United Arab Emirates, UBA provides retail, commercial, and institutional banking services, leading financial inclusion and implementing cutting-edge technology.
Online Poster by — October 17, 2025 in Industry
Polaris Bank Reinforces Commitment To Exceptional Customer Experience

Photo caption: Chris Ofikulu, Executive Director, Retail & Commercial Banking, Polaris Bank Limited with some Customers at the South West Trade Forum sponsored by the bank.
A cross section of customers at the South West Trade Forum organised by the bank.

By Winifred Bosa

Polaris Bank has reaffirmed its commitment to delivering exceptional customer experience through deeper engagement and partnership with its clients. This was demonstrated last Thursday when the Bank hosted a successful Global Trade Forum in Ibadan, bringing together key stakeholders in the SouthWest region and valued customers to explore growth opportunities and strengthen collaborations.
The hugely attended Trade Forum was graced by the Executive Director, Retail ahd Commercial Bank, Chris Ofikulu, who expressed heartfelt appreciation to attendees for their participation and continued support.
In his opening remarks, Ofikulu warmly welcomed participants, particularly those who traveled from Kwara, Osun, Ogun, Ekiti, Ondo, and various parts of Ibadan. “Your presence here today reflects the deep trust and strong partnership and bond you share with Polaris Bank. We sincerely appreciate your continued support,” he said.
He further noted that the event aligns with the Bank’s ongoing efforts to deliver exceptional customer experience and enhance engagement with clients across regions. “This forum is part of our broader mission to deepen customer relationships and ensure that you experience Polaris Bank not just as a financial institution, but as a true partner in your success. We want every interaction you have with us to reflect excellence, empathy, and innovation,” Ofikulu stated.
He also highlighted that the timing of the forum coincided with the just-concluded Customer Service Week, which celebrates customers’ loyalty and trust. “It is only fitting that we use this opportunity to celebrate you, our customers. Today’s session is about listening, learning, and growing together. Your feedback continues to shape how we innovate and deliver value,” he added, officially opening the forum.
Bukola Oluyadi, Group Head of Customer Experience and Value Management, also addressed the forum, emphasizing Polaris Bank’s commitment to understanding customers’ needs and empowering businesses. “Our vision is to be the preferred partner, and our mission is to empower your enterprises. We are here today to explore how we can continue to support your growth,” Oluyadi noted.
Ayo Adesanya, Ag. Divisional Head, Operations, spoke on the Bank’s operational services, particularly in trade facilitation. He discussed how Polaris Bank assists customers by verifying trade documents and offering payment services at minimal percentage costs. “We are committed to simplifying the trading process for our customers by ensuring that documents are properly verified and offering the option to pay on your behalf for a small fee,” Adesanya explained.
Anthony Anichebe, Sector Lead, Agric Exports, Manufacturing and General Commerce, delivered a keynote address on exports, underscoring the Bank’s role in supporting African businesses. He highlighted the importance of exports to Nigeria’s economy and how Polaris Bank provides tailored financial solutions to foster growth in the sector. “Exports are key to the diversification of our economy, and Polaris Bank is here to support your export initiatives with solutions that help you navigate international trade,” Anichebe stated.
Olayemi Agbe Davies, Head of Treasury at Polaris Bank, provided an economic overview, noting positive trends in the Nigerian economy such as improved oil production, gradual inflation slowdown, and growing foreign reserves. “The outlook is promising, and Polaris Bank is here to support your business through trade finance, treasury solutions, and currency management,” he added.
Additionally, Olaleye Arinola , the Trade Services Officer, Spoke on the Pan African Payment and Settlement System (PAPSS), a groundbreaking initiative designed to simplify cross border payments within Africa. “PAPSS allows businesses to make payments in local currencies, eliminating conversion costs and supporting intra African trade. It is fast, secure, and designed to promote business growth across the continent,” Olaleye explained.
The Global Trade Forum provided a unique opportunity for Polaris Bank customers to engage directly with bank leaders, gain valuable insights, and explore new avenues for business growth. Polaris Bank remains committed to strengthening relationships, enhancing customer experience, and empowering its customers to thrive in the global marketplace.
Online Poster by — October 17, 2025 in News
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.
Online Poster by — 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.

Online Poster by — 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.

Online Poster by — October 16, 2025 in News