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All Posts in "Day: December 5, 2025"

Pension Compliance: PenCom DG Announces New Era of Zero Tolerance For Pension Defaults

PenCom goes tough on defaulters of CPS regulations, unveils era of zero tolerance - Champion Newspapers LTD

…Trains Recovery Agents On Recovering Pension Liabilities From Employers

 

The Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran, has announced that PenCom has ushered in a new era of zero tolerance for pension defaults with accredited Recovery Agents serving as the cornerstone of Nigeria’s social contract with its workers.

 

 

Ms. Oloworaran represented by the Commissioner Inspectorate of the Commission, Hon. Samuel Chigozie Uwandu stated this during an intensive Training Workshop for accredited Recovery Agents held in Lagos on 2 December 2025. The training marked a renewed nationwide compliance push to recover outstanding pension contributions and penalties from employers who persistently violate the Pension Reform Act (PRA) 2014, which mandates remittance of pension contributions within seven working days of salary payment.

 

 

The workshop, attended by enforcement officers, resource persons and pension industry stakeholders, outlined new strategic initiatives that will strengthen enforcement efforts, deepen inter-agency collaboration, and empower recovery agents to tackle non-remittance of pension contributions with greater precision and authority.

 

 

Speaking further at the workshop, the Director General reaffirmed PenCom’s commitment to enforcing strict compliance across the pension industry.
PenCom currently engages Recovery Agents to audit defaulting employers, calculate outstanding pension liabilities, issue demand notices, and facilitate recovery of unremitted pension contributions. Recovery Agents’ work has been instrumental in enforcing compliance since the start of the recovery exercise in 2012.

 

PenCom data shows that the Commission has cumulatively recovered ₦32.27 billion, comprising ₦15.87 billion in principal contributions and ₦16.40 billion in penalties from defaulting employers between June 2012 and September 2025.

 

In addition, PenCom recorded significant compliance gains in the third quarter of 2025 alone, recovering ₦2.06 billion (₦775 million principal and ₦1.27 billion penalties) from 49 defaulting employers, reflecting a sustained surge in enforcement activities.

 

Ms. Oloworaran told the workshop participants that despite the successes of the Contributory Pension Scheme (CPS), persistent defaults by employers threaten the fundamental purpose of the system.
“Every unremitted Naira represents a broken promise to a Nigerian worker,” she said. “This Commission has moved from promoting voluntary compliance to mandating enforced compliance. The era of impunity is over.”

 

She recalled that the appointment of Recovery Agents followed a competitive, transparent selection process, reflecting PenCom’s confidence in their capacity, professionalism, and integrity. She reminded participants that they are the “operational arm of PenCom’s enforcement will” and are critical to PenCom’s strategy to safeguard workers’ retirement savings.

 

The Director General outlined several bold initiatives forming PenCom’s expanded enforcement architecture, including forming stronger partnerships with key regulatory bodies such as the Corporate Affairs Commission (CAC), Federal Inland Revenue Service (FIRS) and other relevant agencies. Under these partnerships, employers’ compliance with the PRA 2014 will influence their standing with these bodies. The DG noted that defaulting employers will face consequences beyond PenCom, as non-compliance may affect business operations, access to government services, and regulatory privileges.

 

PenCom DG also brought to the attention of the participants the newly executed Memorandum of Understanding (MoU) with the Independent Corrupt Practices and Other Related Offences Commission (ICPC), which empowers ICPC to hold the management of recalcitrant employers personally accountable, making pension defaults a matter with potential criminal implications.

 

“This MoU is a decisive step to give teeth to our recovery efforts,” the DG stated. “No employer should imagine that withholding workers’ pensions is without consequences.”
The training modules delivered at the workshop were designed to deepen RAs’ skills in employer audit and compliance assessment; liability computation and negotiation; documentation and evidence management; engagement protocols under PenCom’s new enforcement architecture and use of enhanced digital compliance tools and reporting systems.

 

Participants were also briefed on PenCom’s internal reforms aimed at ensuring faster processing of reports, better coordination between departments, and stronger monitoring of ongoing recovery activities.
The DG concluded her remarks with a powerful charge to the Recovery Agents:
“You are the ambassadors of this new resolve, an Act with unwavering ethical standards, exercise professional care, and be relentless in securing what is rightfully due to the Nigerian worker.”

 

She said that PenCom stands fully behind the agents and will provide all necessary institutional support to ensure that every kobo owed to Nigerian workers is recovered.
The workshop ended with a renewed sense of mission as PenCom and its accredited Recovery Agents prepare to intensify nationwide compliance activities throughout 2026 and beyond.

Online Poster by — December 5, 2025 in Insurance and Pension
Gov Mbah Presents N1.62 Trn 2026 Budget Of Renewed Momentum

Gov Mbah presents N1.62trn 2026 budget of renewed momentumLarryBravo Nwaiwu
Governor of Enugu State, Dr. Peter Mbah, on Tuesday, presented a record N1.62 trillion 2026 budget estimates to the Enugu State House of Assembly, saying the administration was moving from laying foundation to scaling transformation across every sector.
The figure represents a 66.5 per cent increase over the N971 billion revised 2025 budget.
Dubbed Budget of Renewed Momentum, Governor Mbah said the budget comprised a Capital Expenditure of N1,296,092,465,000, representing 80 per cent of the total budget, while the Recurrent Component stood at N321,305,000,000, representing 20 per cent of the budget totaling N1,617,397,465,000.
Mbah said the budget would be funded through a projected N870 billion Internally Generated Revenue, IGR, N387 billion would come from the Federal Account Allocation Committee, FAAC, while N329 billion is expected as Capital Receipts.
A sectoral breakdown of the budget shows that the Economic Sector would receive N825.9 billion, representing N51 per cent of the total budget, followed by the Social Sector (N644.7 billion), representing 40.1 per cent of the budget, while Administration Sector, Justice Sector and Regional Sector got N128 billion, N15.8 billion, and N2 billion, respectively.
“Allocating N825.9 billion to the Economic Sector is strategic and deliberate. When we invest in agriculture, industry, and trade, we create jobs, reduce poverty, and generate revenue that strengthens the entire economy. The performance of this sector remains central to our vision of achieving a seven-fold GDP growth in Enugu State,” the governor explained.
Highlights of the Economic Sector include Roads/Infrastructure Sector where the governor plans to construct 1,200 urban roads and a significant number of rural roads, while also completing the ongoing 40-kilometre Owo-Ubahu-Amankanu-Neke-Ikem dual carriageway, dualisation of the Abakpa Nike – Ugwogo Nike – Ekwegbe – Opi-Nsukka Road, and the 21.65-kilometre Enugu-Abakaliki Expressway.
Concerning Transportation, Mbah announced that the state would acquire 14 additional aircraft to bring Enugu Air’s fleet to 20, noting that three additional planes would arrive before the end of 2025.
The administration plans to build five more transport terminals in Emene, Udi, Awgu, Four-Corners (Ozalla) and Obollo-Afor. It equally set aside 15 per cent of the budget for providing 15,000 mass housing units, while ramping up infrastructural development at the New Enugu City.
In the Agricultural Sector, he said the administration would, among others, step up the construction of 20-hectare Farm Estates in the 260 wards of the state, with some already underway.
In the Social Sector, education got the lion’s share of 32.27 per cent of the entire budget, following patterns of the 2024 and 2025 budgets where it also got over 30 per cent.
He said that with the 260 Smart Green Schools already completed or nearing completion, the state would focus on the construction of Smart Secondary Schools and Technical and Vocational Education Training (TVET) Colleges across the state in 2026.
“There are some, who might look at what we spend on education and cringe. But what we spend currently on education is largely insignificant weighed against the future social cost of having a disproportionate population of out-of-school children,” he explained.
He said his administration equally budgeted the sum of N20 billion to clear longstanding gratuities inherited by his administration, noting that “Our workers should not wait years to receive benefits they have earned.”
N11 billion was budgeted to, among others, fund the second phase of the administration’s security surveillance system, Health is to get 10 per cent of the total budget.
*2025 Budget Performance*
On the 2025 budget performance, Governor Mbah said the administration had so far spent about N806 billion.
“This means that we utilized 97.5 per cent of all the money that came into the state and achieved 83 per cent of the total budget implementation as against the revised budget of N871 billion,” he said.
On revenues performance, the governor said “The money coming into Enugu State has grown in ways we have never seen before.”
“Our internally generated revenue is set to exceed ₦400 billion by the end of the year. It is not yet where we ultimately want to be, but it is already the highest IGR in the history of Enugu State – a 221.6% increase over 2024,” he said.
He commended President Bola Tinubu’s economic policies, saying it had revved up the FAAC allocations to Enugu State.
“Our FAAC inflow did not just meet expectations – it exceeded them by more than half. We projected about ₦150 billion but we received ₦230 billion – over 50 per cent above projection.
“This is not accidental. It reflects the impact of President Bola Ahmed Tinubu’s bold economic reforms.
“The removal of fuel subsidies, unification of foreign exchange rate and other fiscal measures have strengthened key macro indicators – inflation has declined and continues to trend downwardly, interest rates have eased, and the exchange rate has stabilised. And our foreign reserve has continued to be strengthened, and recently hit the $46 billion mark,” he said.
Online Poster by — December 5, 2025 in News
Seplat Energy Earns Market Excellence, Education Intervention, Upstream Deal Awards In Lagos And London

Seplat Energy Plc, foremost Nigerian independent energy company, has received three (3) awards for market excellence (2025 Highest Net Asset Ratio) at the PEARL Awards 30th Anniversary and Awards Nite in Lagos; Upstream Deal of the Year at the World Energy Capital Assembly (WECA) Awards in London; and Education Intervention of the Year recognition at the SERAS Africa Sustainability Awards in Lagos.

The PEARL Awards (Performance, Earnings, and Returns Leadership Awards), established in 1995, are designed to honour companies listed on the Nigerian Exchange (NGX) for exceptional operational and stock market performance. The Awards aim to promote the vibrancy, growth, and development of Nigeria’s capital market. The highest return on net assets (RONA) ratio for which Seplat Energy was recognised, compares a firm’s net income with its assets and helps investors to determine how well the company is generating profit from its assets. The higher a firm’s earnings relative to its assets, the more effectively the company is deploying those assets.

Speaking on the awards, the President/CEO of Pearl Awards, Mr. Tayo Orekoya, said each of the competitive award categories, ranging from the sectoral leadership awards to market excellence awards and the most prestigious overall highest award, is the result of an objective and data-driven ranking process.

The NGX Chief Executive Officer, Jude Chiemeka, commended the foresight of the founders of the Pearl Awards, acknowledging their role in motivating performance excellence over the years. According to him, by recognising companies via quantifiable and verifiable metrics, the awards have strengthened discipline and transparency across the market.

The WECA Awards of Excellence represents a global benchmark of excellence for those working across the upstream industry. The awards recognise and honour the individuals and companies who have been at the forefront of first-class deals, value creation, innovation, or exceptional financial and operating performance. It also celebrates the executives who continue to change the face of the oil and gas industry, demonstrating outstanding leadership and performance.

The SERAS Awards promote excellence and best practice in CSR and Sustainability, provide a yardstick for measuring excellence and drive adoption of CSR and Sustainability in Africa. The awards also celebrate the continent’s most influential organisations and leaders driving transformative sustainable development.

In his address, Ken Egbas, Founder of The SERAS, explained that the 2025 theme -“Sustainability 2.0: Innovating for Impact and Inclusive Growth”—signals a decisive shift toward bold, future-focused action.

“Africa cannot afford business as usual. We must innovate—relentlessly, boldly, audaciously. We must connect growth to inclusion, profit to purpose, ambition to equity. This year’s organizations have shown that this future is attainable,” he said.

Online Poster by — December 5, 2025 in News
2025 SERAS Awards : Airtel Nigeria Wins Best In Technology For Development

Airtel Wins Best in Technology for Development Award at SERAS 2025 — Techandbiz News NGBy Winifred Bosa
Leading telecommunications service provider, Airtel Nigeria, has been honoured with the Best in Technology for Development award at the 2025 edition of the Sustainability, Enterprise and Responsibility Awards (SERAS), held in Lagos recently.
For its work executing the vision of Airtel Africa Foundation locally, Airtel Nigeria received nominations in two highly competitive categories: Best Company in Environmental Stewardship and Best in Technology for Development.
 Highlights of the nominations included Airtel’s long-standing commitment to digital inclusion through investments in programmes such as the Federal Government’s Three Million Technical Talents (3MTT) initiative.
The SERAS, now in its 19th year, is noted to be Africa’s most consistent platform for recognising excellence in corporate social responsibility and sustainability.
This year’s ceremony brought together top organisations committed to improving lives, protecting the environment, and supporting national development.
While acknowledging the progress of sustainability efforts in Africa, SERAS Founder, Ken Egbas, applauded Airtel for championing sustainable development across the continent.
Egbas said, “This year’s record number of entries once again demonstrates just how far the sustainability movement has advanced across Africa. Businesses, governments, and non-profits are no longer treating sustainability as a side initiative but as a core pillar of growth, competitiveness, and long-term legacy.
 With leading organisations such as Airtel committing to not only doing the work but also telling the stories, the future looks even more promising.”
Airtel Nigeria’s recognition at the 2025 SERAS reflects its leadership in technology-driven empowerment, with the 3MTT sponsorship, for example, resulting in the training of 25,000 young Nigerians across 46 Local Government Areas while the Reimagine Education partnership with UNICEF has connected 942,670 public school pupils in 1,268 schools to digital learning.
Reacting to the award, Dr Segun Ogunsanya, Chairman, Airtel Africa Foundation, reiterated the organisation’s dedication to digital inclusion and national development.
Dr Ogunsanya said, “This award strengthens our resolve to keep driving meaningful change through innovation and improved access for Africans.
 Technology remains one of the most powerful tools for social and economic transformation, and we are proud to contribute to Nigeria’s progress by ensuring that more people, communities, and institutions can benefit from the opportunities it creates.”
Commenting on the win, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, expressed gratitude to the organisers and reaffirmed the company’s dedication to sustainability.
 “We are thankful to the organisers of the SERAS awards and accept this honour as a confirmation that our contributions in communities across Nigeria are making a notable impact. To us at Airtel, sustainability is never just a box to tick; it is a long-term responsibility that we are pleased to assume,” he said.
Airtel Nigeria’s recognition at the 2025 SERAS extends its leadership in technology development and environmental stewardship.
 The company continues to champion digital inclusion, youth empowerment, education, and green initiatives that support Nigeria’s long-term development goals.
Online Poster by — December 5, 2025 in News
IHS Nigeria Shines, Secures Multiple Wins At SISA, SERAS, Tech Innovation Awards

L-R Regional Executive – West Africa, Africa Data Centres, Dr. Krishnan Ranganath presenting the Renewable Energy and Green Site Initiative Award to IHS Nigeria, Director, Sales, Olubukola Agbaminoja; Senior Specialist, Compliance, Halima Omidiran; Director, Treasury Operations, Adenike Emiloju; and Manager, External Communications, Olufunso Adeolu, all from IHS Nigeria, during the Technology Innovation Awards (TIA) held at the Oriental Hotel, Victoria Island, Lagos, Nigeria, on Saturday, November 29, 2025.
L–R: Specialist, Sustainability, IHS Nigeria, Jemimah Okanlawon; Specialist, Sustainability, IHS Nigeria, Yemisi Akande; Manager, Sustainability, IHS Nigeria, Tolulope Oyenuga; President & CEO, Upticomm Marketing Company, Segun McMedal with the Director of Sustainability, IHS Nigeria, Titilope Oguntuga; and GMD, Sunny Brooks Group of Schools, Lekki, Lagos, Maryanne Maduekwe during the presentation of the Deborah Leipziger Africa Prize for Innovation to IHS Nigeria at the 19th Edition of the SERAS Awards on Saturday, November 29, in Lagos.

By Winifred Bosa

 IHS Nigeria has recorded an exceptional recognitions, by securing multiple awards across three high-profile industry platforms.
The honours highlight the company’s sustained commitment to innovation, sustainability, ethical business practices, and nationwide social impact.
Recently, at the Social Impact Sustainability Awards (SISA) held at the MUSON Center, Lagos, IHS Nigeria was celebrated for its contributions to digital inclusion and responsible business conduct.
The company received the Digital Access and Learning Empowerment Champion Award, recognising its efforts to expand digital access and support education across underserved communities.
 IHS Nigeria also earned the Ethical Business Leader of the Year Award, a testament to its transparent corporate governance process, strong compliance culture, and dedication to ensuring ethical business practices.
The winning streak continued on Saturday, November 29, 2025, at the SERAS CSR Awards, Africa’s most influential sustainability recognition platform. IHS Nigeria emerged as the Best Company in Innovation winning the Deborah Leipziger Africa Prize for Innovation, which honours its forward-thinking programmes and cutting-edge solutions that address social and environmental challenges.
 In addition, the Director of Sustainability, IHS Nigeria, Titilope Oguntuga was named the First Runner-Up for the Africa Sustainability Professional of the Year, underscoring her strong leadership in driving the organisation’s Environmental Social and Governance (ESG) agenda.
On the same night, at the Tech Innovation Awards (TIA) held at the Oriental Hotel, Victoria Island, the company secured three more accolades. IHS Nigeria received the Renewable Energy and Green Site Initiative Award for its leadership in adopting clean energy solutions across its network and the Telecom Tower Infrastructure Leadership Award, affirming its position as a leading provider of critical communications and digital infrastructure in West Africa.
The Senior Vice President and Chief Corporate Services Officer, IHS Nigeria, Dapo Otunla, was also recognised at the TIA for his outstanding contribution to industry advancement and leadership excellence as Telecom Chief Corporate Services Leader of the year.
Reflecting on the company’s recent honours, Senior Vice President & Chief Corporate Services Officer, IHS Nigeria, Dapo Otunla expressed his gratitude and reaffirmed the company’s commitment to innovation and sustainability.
“These recognitions across three respected platforms reaffirm our belief that sustainability, innovation, and ethical business practices are not just corporate ideals—they are responsibilities we owe the communities we serve. At IHS Nigeria, we have made a deliberate commitment to expand digital access, deepen our renewable energy investments, and strengthen the integrity of our operations.
These awards belong to our people, our partners, and the millions of Nigerians whose trust inspires us to keep raising the bar” He said.
The awards and acknowledgements reflect IHS Nigeria’s ongoing investments in sustainable technology, community empowerment, climate-conscious operations, and responsible business practices, and serve as a testament to the company’s vision of a digitally empowered, socially responsible, and environmentally conscious Nigeria.
  IHS Nigeria remains committed to driving Nigeria’s progress toward inclusive digital access and a greener future.
Online Poster by — December 5, 2025 in News
FAAN Commences Two-Day Board Retreat Focused on Future-Proofing the Authority

FAAN Commences 2-Day Board Retreat On Future-Proofing | Science Nigeria

The Federal Airports Authority of Nigeria (FAAN) yesterday commenced its two-day Board Retreat themed “Future-Proofing FAAN: Leadership, Modernisation and Strategic Renewal.” This strategic gathering reflects FAAN’s commitment to strengthening governance, enhancing institutional capacity, and repositioning Nigeria’s airports for global competitiveness.

The retreat brought together a distinguished assembly of leaders, including the Chairman of the FAAN Board, Dr. Abdullahi Umar Ganduje, Board Members, Executive Directors, and management staff from across the Authority.

The Honourable Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, SAN, CON, was ably represented by the Permanent Secretary, Dr. Yakubu Adam Kafarmata. Also present were: Distinguished Senator Abdulfatai Buhari, Chairman, Senate Committee on Aviation; and Hon. Festus Akingbaso, Deputy Chairman, House Committee on Aviation, representing the Chairman of the House Committee

In his remarks, the Chairman of the Board, Dr. Abdullahi Umar Ganduje, commended FAAN for organising the retreat and expressed confidence that the sessions would be highly rewarding and impactful for the future of the Authority.

Declaring the retreat open, the representative of the Honourable Minister extended the Minister’s optimism for the programme, stating: “May your deliberations be productive, and your outcomes transformative for FAAN, for the aviation sector, and for Nigeria.”

The retreat provides a critical platform to deepen synergy between the Board and Management, strengthen governance structures and clarify strategic direction; review FAAN’s operational, infrastructural, and financial landscape; chart a roadmap for modernisation, innovation, efficiency, and long-term sustainability; and align FAAN’s priorities with ministerial directives and national aviation development goals.

The Managing Director/Chief Executive of FAAN, Mrs. Olubunmi Oluwaseun Kuku, highlighted that the retreat offers an opportunity to reflect on FAAN’s progress, reassess its challenges, and envision a modern, responsive, and globally competitive airport system for Nigeria.

The combined presence of the Board, the Ministry, and National Assembly leadership underscores a unified commitment to driving reforms, strengthening institutional resilience, and delivering service excellence across all FAAN airports.

The outcomes of the retreat are expected to produce actionable resolutions and a focused strategic roadmap that will propel FAAN further on its journey of leadership, modernisation, and operational excellence.

Online Poster by — December 5, 2025 in Aviation
Moniepoint Launches Moniebook, Nigeria’s First Solution To Unify Payments And Bookkeeping

By Fidelia Okafor
Nigeria’s definitive bank for small and medium-sized businesses, as well as their customers and employees, Moniepoint Microfinance Bank has launched Moniebook, a comprehensive all-in-one Point-of-Sale (POS) solution designed to transform how businesses in retail, hospitality, health, and beyond manage their operations. As the first solution in the country to seamlessly unify payments and bookkeeping in one tool, it is tailored for small to medium-sized businesses as well as multi-location enterprises, Moniebook combines robust software with reliable hardware, helping business owners streamline operations, boost efficiency, and empower business owners with data-driven insights for growth.
Moniebook provides business owners with a powerful suite of tools to manage inventory, track sales, process payments, foster customer relationships, and generate detailed reports from a single platform. The core value proposition is to simplify complex business operations, reduce inefficiencies, and increase profitability for establishments. From supermarkets and restaurants to pharmacies and boutiques, the system empowers businesses to handle day-to-day tasks effortlessly—whether it’s preventing stockouts, managing staff roles, or tracking product expiry dates.
Speaking on the new product launch, Babatunde Olofin, Managing Director, Moniepoint MFB, said:
“Our mission has always been to help businesses grow by giving them the tools they need to succeed. This is in strong consonance with our mantra of creating financial happiness even as we consistently power the dreams of the millions of Nigerians who have come to love and trust the brand as an enabler of progress, as businesses or as individuals. Moniebook is engineered to be a growth partner for businesses – a holistic source of truth in the hands of every entrepreneur. By providing full visibility over sales, staff, customers, and inventory in real-time, we are giving business owners the control they need to scale efficiently and securely.”
With over 4,000 businesses onboarded during the beta phase of Moniebook, business owners already using the product are singing its praises. BBQ Chef, a retail entrepreneur, shared: “I discovered through Moniebook that I had made over ₦2 million in my first month! It tracks my sales, manages inventory, and is so easy for my team to use. Honestly, any business not using Moniebook is missing out.”
Oluwole Adebiyi, Head of Product, Moniebook, added:
“We built Moniebook with the realities of Nigerian business owners in mind which begins with a deep understanding of their everyday challenges. For too long, small and medium-sized business owners have had to juggle multiple, disconnected tools to manage critical operations, from tracking inventory to processing payments and understanding their sales data. This complexity is a direct barrier to growth.
He continues, “For us, whether you’re running a supermarket, a restaurant, or multiple retail outlets, you shouldn’t have to juggle five different systems. Moniebook gives you everything in one place – fast, secure, and scalable. By simplifying the complexities of running a business, we are freeing up entrepreneurs to do what they do best: serve their customers and grow their enterprises. This is another step in our commitment to fostering a thriving business ecosystem in Nigeria.”
Key features and benefits of the Moniebook platform include:
Inventory Management: Real-time stock monitoring with automated reordering and specialized expiry tracking to minimize waste and prevent stockouts.
Sales Tracking & Reporting: Comprehensive visibility into daily sales performance, customer behavior, and staff metrics through detailed analytics and reports.
Integrated Payment Processing: Seamless transaction processing through Moniepoint terminals with support for credit sales, split payments, and discounts.
Multi-Location Management: Centralized control and monitoring of inventory, sales, and staff across multiple store locations from a single platform.
Staff & Role Management: Customizable user permissions and role assignments to control system access and streamline operations based on employee responsibilities.
Moniebook is available in two pricing tiers: Core (₦6,000/month) for small business operations and Pro (₦8,500/month) for advanced, multi-location enterprises. Optional add-ons, including extra registers, branches, and implementation support, make it scalable for growing businesses.
To learn more or sign up, visit https://moniepoint.com/ng/business/moniebook
Online Poster by — December 5, 2025 in Capital Market
To Recover Lost Govt Revenue From FTZs Operations – MAN Sectorial Group Calls For Special Task Force

By Fidelia Okafor
The Basic Metals, Iron and Steel Manufacturers Sectoral Group of the Manufacturers Association of Nigeria has advocated for a Special Task Force to be set up by the Federal Government to recover lost revenue from the untoward activities of some Free Trade Zones (FTZs) operators in Nigeria over the years.
Chairman of the Group, Prince Lekan Adewoye who made the call in a chat with Journalists in Abuja lamented the weak regulatory oversight in FTZs especially with regards to necessary value addition to raw materials imported to the Zones, export into the Customs territory and trading with related entities.
According to him, the Government is losing a lot in revenue, occasioned by flagrant under invoicing of finished and semi-finished products imported as purported raw materials into the Zones with all the incentives provided by Government, which eventually find ways into the Customs territory without any value addition.
Prince Adewoye stated that these untoward activities undermine genuine local manufacturers operating in the Customs territory leading to shut downs and massive loss of jobs by Nigerians. He gave example of a member company of the Sectoral group in Ogun State scrapping nearly 80% of the installed capacity over unfair competition with operators in the Igbesa FTZ.
“If this situation persists, many more steel manufacturers will collapse, and we risk losing not just investments but also jobs and industrial capacity built over decades. The government must urgently intervene to restore sanity and fairness to the FTZs system before local industries are driven into extinction”, he said.
The MAN Sectoral Group Chairman asserted that the Basic Metals and Iron & Steel sector is the backbone of any nation’s industrial development, stressing that the sector has meaningfully supported the Tinubu administration’s economic diversification and industrialization goals through import substitution and value addition, employment generation and MSME development, industrial integration as well as local production, in spite of daunting challenges.
Commenting on the issue, the Executive Secretary of the Nigeria Economic Zones Association, Toyin Elegbede assured that the association would not support any form of sabotage by its member organisations, stressing that NEZA’s focus is towards the realization of the objectives for which the FTZs were created.
According to him, the Standards Organisation of Nigeria (SON) is represented at the FTZs to inspect, certify and issue certificates of conformity for all goods being sold to the Customs territory.
On enquiry from SON, Engr. Enebi Onucheyo, the Director, Product Certification confirmed that the agency has since 2024 developed a scheme “Special Economic Zones Conformity Assessment Programme (SEZCAP), for the certification of goods into and out of the free trade zones to the Customs territory and has recently commenced its deployment.
The scheme he said, is an initiative to enhance the production, importation, sales, and distribution of quality and safe manufactured products in the special economic zones into Nigeria and those to be exported to others parts of the world.
Engr. Onucheyo stated that the SEZCAP is being implemented through SON State Offices having jurisdiction over the FTZs across the country.
Online Poster by — December 5, 2025 in News
SAHCO PLC  Wins “Best Ground Support Service Company Of The Year” Award At Nigeria’s First International Airshow

By Fidelia Okafor 
 
 
Skyway Aviation Handling Company PLC (SAHCO) has once again reinforced its leadership in the aviation sector by winning the highly coveted Best Ground Support Service Company of the Year award at the First Nigeria International Airshow, organized by the Federal Ministry of Aviation and Aerospace Development, held at the Nnamdi Azikiwe International Airport, Abuja.
This prestigious recognition highlights SAHCO’s unwavering dedication to delivering world-class ground handling services, operational efficiency, and unsurpassed professionalism across Nigeria’s airports. The award celebrates the company’s continuous investment in modern equipment, staff training, safety standards, and customer-centric service delivery.
The award was received on behalf of the company by its Managing Director/Chief Executive Officer, Mrs. Adenike Aboderin, who expressed appreciation for the honour and reiterated SAHCO’s commitment to supporting the growth and modernization of Nigeria’s aviation industry.
Presenting the award was Air Vice Marshal (Rtd.) Ojuawo Adeniyi, a member of the House of Representatives, who commended SAHCO for its consistency, innovation, and significant contribution to aviation development in the country.
Commenting on the award, the Chairman of SAHCO Plc, Dr. Barr. Taiwo Afolabi (CON), expressed his heartfelt appreciation to the Ministry of Aviation and Aerospace Development, the CEO of the Nigeria International Airshow, Mrs. Bria Williams and the entire team that nominated SAHCO for recognizing SAHCO and for putting the company on the global stage with such a prestigious honour.
Dr Afolabi went on to describe the award as a significant milestone that validates SAHCO’s unwavering
 Commitment to excellence in aviation ground handling and support services. He noted that the recognition not only celebrates the company’s achievements but also highlights the dedication and professionalism of the entire SAHCO workforce. ‘As a gateway of critical aviation services in Nigeria, this award strengthens our resolve to continue delivering world-class operational standards.’ Dr Afolabi emphasized. ’SAHCO remains committed to investing in cutting-edge technology, enhancing staff capacity and upholding safety and service benchmarks to ensure that Nigeria’s aviation industry retains a respected global presence’.
He went on to acknowledge the vital support from SAHCO’s Board, Management team, clients and partners emphasizing that their trust and collaboration have been instrumental in the company’s growth and success.
This recognition at the maiden edition of the Nigeria International Airshow serves as a major milestone and a testament to SAHCO’s role in enhancing global standards within the nation’s aviation landscape.
Skyway Aviation Handling Company PLC (SAHCO) has built a solid reputation for reliability, safety, and excellent customer service, backed by its commitment to international best practices, modern technology, and strict adherence to global aviation safety standards.
As one of Nigeria’s leading ground handling service providers, SAHCO delivers top-quality Passenger, Ramp, and Cargo handling services across major airports nationwide.
The company remains committed to supporting the growth of Nigeria’s aviation industry through continuous staff development, operational excellence, and environmentally responsible practices. With a strong focus on efficiency and professionalism, SAHCO consistently provides seamless, world-class ground handling services that meet—and exceed—client expectations.
Online Poster by — December 5, 2025 in News