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When Legacy Meets Preparedness — Olusegun Alebiosu As CEO , FirstBank Group


What happens when legacy meets preparedness? What results from such a combination? Let us not be in a hurry to put forward any answers yet. Instead, let us consider first the opposite situation: When legacy meets unpreparedness.

The world abounds in examples of this distressing situation. A dynasty that has built wealth from generation to generation, with its illustrious heirs providing generational leadership, finds itself in a strange phase where an ill-prepared heir takes over the reins and in that same generation, not the next, wipes out the entire family fortune built over several generations.

We see the same thing with nations. History is replete with examples of great nations built by great leaders, which slid into oblivion when they were hit by arguably the greatest misfortune that ever befalls humanity – bad leadership. It is the reason American author and leadership expert John Maxwell asserts, “Everything rises and falls with leadership.”

As with nations, so with organisations. We see organisations that have thrived for decades and over several generations, get a new leader who is not prepared for such leadership, and the leader pushes the organisation to the brink of collapse.

Contrast this picture with the situation at Nigeria’s most enduring corporate organisation with the most amazing legacies of firsts, First Bank of Nigeria Limited, which witnessed a leadership transition about a year ago. Faced with a number of quality options in and outside the then management team, the decision-makers at the bank and its parent company FBNHoldings, now First HoldCo Plc, had to be clear-minded about who could become the new Chief Executive Officer of FirstBank Group.

Equally important as the need for continuity was the non-negotiable requirement for capacity to manage the ship of the 130-years-plus institution to sustain its enviable legacies and consolidate the gains made in recent years. The search was for someone with a steady head and hands (talk of risk control and mitigation), in addition to an excellent track record of sterling performance and achievements.

Fortunately, fate was on their side. They did not have to look outside. Right there before them was someone who understood all kinds of risks and how to control and mitigate them. He had been with FirstBank since 2016 when he joined as Group Executive / Chief Risk Officer. Then in January 2022 he was elevated to Executive Director / Chief Risk Officer and Executive Compliance Officer.

This man has given nearly three decades of his working life to the banking and financial services industry. He has under his belt a rich tapestry of cross-functional experience in credit risk management, financial planning and control, credit and marketing, and trade. His cross-functional exposure also includes corporate and commercial banking, agriculture financing, oil and gas, transportation, including aviation and shipping, and project financing

Meet Olusegun Alebiosu, the man history had prepared and the one decision-makers chose among the quality options. He was appointed substantive Chief Executive Officer of FirstBank Group in June 2024, having acted in that capacity since April 2024 when the former CEO left.

Determined to build on the bank’s legacies while navigating the ever-changing landscape of the financial services industry, Alebiosu has shown unwavering commitment to lead the bank through a transformative period that places emphasis on strategic consolidation, technological advancement and market expansion.

Alebiosu’s approach to sustaining the legacies of firsts at FirstBank, which has been at the vanguard of accelerating Nigeria’s digital payments as the first bank to issue over 13 million cards to customers, draws from his vast professional experience which began with Oceanic Bank Plc, now Ecobank Plc, in 1991. Between then and joining FirstBank in 2016, he had worked at Coronation Merchant Bank as Chief Risk Officer, at African Development Bank Group as Chief Credit Risk Officer and at United Bank for Africa as Group Head, Credit Policy and Deputy Chief Credit Risk Officer.

Under one year of his appointment as substantive CEO of FirstBank, Alebiosu’s strategic consolidation efforts have demonstrated that he is a worthy successor, not an ill-prepared or unprepared one, proving the decision-makers right. Understanding the critical role of its human capital in sustaining the bank’s legacies, Alebiosu has invested himself and the bank’s resources in promoting staff welfare.

A comprehensive review of the bank’s compensation structure was undertaken to position it within the 75th percentile of the industry, making the bank more retentive of, and attractive to, the best talents. The highest number of staff promotions across various grades in the last five years has happened under Alebiosu’s watch, with 1,654 employees being elevated in one single promotion cycle.

Under his leadership, over 2,186 new hires have been recruited across key functions and subsidiaries, with a large number of them deployed to the sales function to ensure that retail customers are adequately served. Staff are now more engaged based on the high employee engagement score of 86% achieved in the April 2025 WorkBuzz survey, indicating remarkable progress in the bank’s multi-pronged efforts to promote a positive and inclusive workplace culture.

This drive to reinforce a culture of inclusion and recognition has been accentuated by the launch of a group-wide culture transformation initiative with the goal of embedding the core values of integrity, excellence and innovation. It has also been strengthened by a renewed focus on inclusion, collaboration and high performance. Also contributing was the staging of a FirstBank Employee Appreciation Day 2025 featuring, among others, a personalised appreciation video message from the CEO to all employees across the group throughout Africa and beyond. The inclusion message is further boosted by the launch of the inaugural edition of the bank’s pioneering initiative, Mandarin Language School, to bolster the bank’s expansion in the Asian market.

Expansion is a critical plank in FirstBank’s new strategic planning horizon, under Alebiosu’s leadership. Taking off this 2025, the plan seeks to reinforce the bank’s market dominance across all operational regions and it includes deliberate expansion into new markets within and outside Africa.

Beyond geographical and horizontal expansion, Alebiosu’s plan has also targeted a skyward expansion. Or how else does one describe the groundbreaking ceremony in March 2025 for the bank’s new green-certified, 44-storey iconic head office building in Eko Atlantic City, Lagos State?

Alebiosu is also prioritising the acceleration of process automation in recognition of the importance of digital transformation. It is a massive push for technological advancement that includes adopting robotics technology and artificial intelligence at scale, to give the bank an unassailable competitive advantage among its peers in the industry.

The bank has deployed digital tools to enhance seamless account opening and optimised backend systems and customer service delivery. Two additional Digital Experience Centres (DXCs) have been launched – one at Lekki Admiralty Way, Lagos State and the other at its UNN branch, Nsukka, Enugu State. Also, the bank’s agent network has expanded to over 280,000, a 50,000 increase from the 230,000 agents it had in 2023.

As expected, shareholders, among other stakeholders, have been observing the strides the bank has been making under Alebiosu’s leadership, with a keen eye on the numbers. Fortunately, again, the bank’s results for the financial year ended December 2024 speak volumes, with after-tax profit of its parent company rising to the highest point it has reached in the last 12 years, according to the company’s latest financial statement.

In recognition of his achievements within such a short period and his exemplary leadership, Alebiosu was honoured at the World Business Outlook Awards as “Banking CEO of the Year – Nigeria 2025”. He has also been honoured with the “Special African Banking Leadership Award” by African Leadership Magazine. This was in 2024.

The story of Alebiosu’s leadership at FirstBank has clearly been one of preparedness meeting legacy. Working with the board and management team, he has consistently sustained the bank’s legacies and also consolidated its recent gains in ways that will ensure the gains keep compounding. FirstBank, more than ever before, is poised for greater intra- and intercontinental growth and impact in the years ahead.

Source: Aniekan Ezekiel

Fidelity Bank CEO’s Share Acquisition Signals Strong Confidence In Tier-One Lender

In a decisive move underscoring unwavering confidence in Fidelity Bank Plc’s resilience, Managing Director and CEO, Dr. Nneka Onyeali-Ikpe has acquired an additional 18 million shares of the bank, valued at approximately ₦366 million.

 

According to a regulatory filing posted on the Nigerian Exchange Group (NGX) Disclosures portal, this strategic investment was executed at ₦20.35 per share on May 19, 2025, the same day an online platform published an unsubstantiated report on a Supreme Court ruling in a decades-long case that the bank inherited from the defunct FSB International Bank that it absorbed in 2005.

 

Dr. Onyeali-Ikpe’s latest acquisition is not an isolated gesture. Between November 21 and 22, 2024, she purchased 15 million shares worth ₦239.4 million, and subsequently added another 10 million shares valued at ₦157.9 million on November 26 and 27, 2024. These cumulative investments reflect a consistent pattern of personal commitment to the bank’s long-term success.

 

Demonstrating Leadership Through Personal Investment

 

The CEO’s substantial personal investments serve as a powerful testament to her confidence in Fidelity Bank’s strategic direction and financial health. By increasing her stake during a period of legal scrutiny, Dr. Onyeali-Ikpe sends a clear message of stability and trust in the institution’s governance and operational integrity.

 

Robust Financial Performance Reinforces Investor Confidence

 

Fidelity Bank’s financial results further validate this confidence. In the first quarter of 2025, the bank reported a Profit Before Tax of ₦105.8 billion, marking a 167.8% increase compared to the same period in 2024. Gross earnings rose by 64.2% year-on-year to ₦315.4 billion, driven by significant growth in interest income and non-interest revenue.

 

The bank’s balance sheet remains solid, with total deposits increasing by 11.1% year-to-date to ₦6.6 trillion, and net loans and advances growing by 5.0% to ₦4.6 trillion. These figures highlight Fidelity Bank’s strong liquidity position and its capacity to support large-scale projects and absorb financial shocks.

 

Despite the rash of malicious publications on the bank that has been debunked by the Central Bank of Nigeria (CBN), Fidelity Bank’s share price has demonstrated resilience. After reaching ₦21.00 on May 13, 2025, the stock experienced a modest decline, closing at ₦20.00, a 3.8% decrease. This stability suggests that investors remain confident in the bank’s fundamentals and leadership.

 

Dr. Nneka Onyeali-Ikpe’s continued investment in Fidelity Bank during a period of legal scrutiny exemplifies strategic leadership and personal commitment. Her actions not only reinforce investor confidence but also underscore the bank’s robust financial standing and resilience. As the institution looks to closing out the legal process as mandated by the court, stakeholders can take solace in the demonstrated strength and stability at the helm of Fidelity Bank.

NPRW  Highlights Nigeria’s Quest for Image Rebuilding , Global Recognition

Stakeholders in Nigeria’s public relations sector gathered at the opening ceremony of the Nigeria Public Relations Week (NPRW) 2025, organized by the Nigerian Institute of Public Relations (NIPR), to chart a new course for Nigeria’s image on both national and global stages. Under the theme “Solid Minerals: A Solid Path to Nigeria’s Sustainable Economic Recovery – The Challenge for Public Relations,” the event spotlighted strategies for enhancing Nigeria’s reputation amid ongoing economic reforms and international engagements.

*A New Dawn for Nigeria’s Global Image*

The event held in Uyo, featured significant announcements, including Nigeria’s upcoming hosting of the 2026 World Public Relations Forum (WPRF). President and Chairman of NIPR, Dr. Ike Neliaku, emphasized Nigeria’s readiness to showcase the country’s rich culture, vibrant music, exotic cuisine, and warm hospitality to the world. “At WPRF 2026, the world will savor Nigeria’s magnificent splendor, from our cuisine to our creativity,” he stated confidently. “Despite concerns about safety and tourism, Nigeria will present a compelling case for itself as a premier destination in Africa.”

Neliaku underscored the importance of proactive communication in shaping perceptions, sharing a recent experience where a simple question about Nigerian food became a metaphor for external perceptions. “The challenges of leadership in Nigeria are partly due to ineffective communication. Leaders need to share their visions openly and responsibly,” he said.

*Leadership and Rebranding through Strategic Appointments*

A major highlight was the installation of John Momoh, CEO of Channels Media Group, as the pioneer Chairman of the Nigeria Reputation Management Group (NRMG)’s Body of Advisers. This strategic initiative by NIPR is dedicated to building and maintaining a positive national image. “Every negative post or harsh comment erodes our image,” said Momoh. “Let us instead share stories of innovation, resilience, and excellence within our borders, promoting constructive narratives that rebuild trust and credibility.”

Other notable appointments include Bashir Adewale Adeniyi, the Comptroller General of Nigeria Customs Service, as Vice Chairman, and Mohammed Kudu Abubakar as Secretary. Dr. Momoh expressed gratitude for the trust placed in him and called on Nigerians to use social media responsibly, advocating for a united effort to reposition Nigeria’s narrative positively.

*Stakeholders Call for Positive Narratives and National Unity*

Throughout the event, government officials and industry leaders stressed the importance of positive storytelling. Deputy Governor of Akwa Ibom, Senator Akon Eyakenyi, highlighted how negative news hampers foreign investment. “Our state is safe, peaceful, and investment-friendly,” she affirmed, urging practitioners to leverage their expertise in fostering peace and promoting government initiatives.

The Minister of Information and National Orientation, Alhaji Muhammed Idris, echoed this sentiment. “We need to speak good about our country,” he urged. “Constructive criticism is welcome, but we must focus on promoting Nigeria’s positive stories. Only then can we accelerate development and restore our national pride.”

*A Collective Responsibility for Nigeria’s Future*

Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, called for unity among all stakeholders. “Reforms may take time, but they are underway,” he stated. “All of us—government, media, citizens—must work together to build a better Nigeria.”

The event also paid tribute to distinguished members of the profession with posthumous awards, honoring their contributions to nation-building and the public relations field.

*Conclusion: A Vision for a Resilient Nigeria*

Addressing the gathering, Dr. Ike Neliaku emphasized the vital role of public relations in nation-building. “Our collective narratives shape perceptions. Every Nigerian has a role in telling our story—of resilience, innovation, and hope,” he said.

As Nigeria prepares to host the 2026 WPRF and strengthen its reputation management infrastructure, the stakeholders’ rallying cry is clear: to build a positive, credible, and inspiring national image that resonates both within and beyond our borders.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Uyo’s NPRW 2025 Event Kicks Off With Over 1,000 Delegates In Attendance

The vibrant city of Uyo, Akwa Ibom State, is set to host more than 1,000 delegates from across Nigeria and beyond, as the Nigeria Public Relations Week (NPRW) 2025 officially kicks off on Monday, May 19, 2025.

Organized by the Nigerian Institute of Public Relations (NIPR), this year’s edition promises a dynamic and immersive five-day experience filled with knowledge sharing, strategic networking, and cultural celebration.

DAY 1 – Monday, May 19:
The week begins with the Public Relations Stakeholders’ Roundtable with Traditional Rulers, a strategic dialogue bridging culture and communication. This will be followed by the NPRW Undergraduates Forum, aimed at grooming the next generation of PR professionals.

Simultaneously, golf enthusiasts will gather for the NPRW Golf Kitty, adding a sporting flair to the day.

The evening will feature the Welcome Cocktail and Manifesto Night, where candidates for the NIPR Council election will engage delegates in an interactive forum.

DAY 2 – Tuesday, May 20:
The first full day of plenary and breakout sessions begins, featuring thought leaders and practitioners speaking on emerging trends and specialization in public relations.

A major highlight will be the Investiture of the Executive Governor of Akwa Ibom State as a Patron of NIPR, a recognition of his administration’s support for communication and development.

The day will conclude with “Ndia Ibom” , a Food and Drink Festival showcasing the rich culinary heritage of Akwa Ibom.

DAY 3 – Wednesday, May 21:

Sessions continue with more plenary and breakout tracks, diving deeper into critical sectors of PR including tech, health, security, governance, and integrated marketing.

The evening will celebrate local fashion and identity with the Ethnik Fashion Nite, spotlighting the state’s diverse fashion culture.

DAY 4 – Thursday, May 22:
The spotlight turns to the NIPR Annual General Meeting, including Council Elections to elect new national officers. The day will end on a high note with a Closing Gala/Happy Hour, offering delegates a chance to unwind and network in a relaxed setting.

DAY 5 – Friday, May 23:
Delegates will embark on a guided tour of Akwa Ibom, experiencing the state’s scenic beauty, tourism, and cultural attractions.

The conference’s keynote address will be delivered by renowned tax expert, Prof. Taiwo Oyedele, during the opening plenary.
Over the course of the week, sessions will be led by top communication scholars, consultants, and corporate leaders, including Prof. Emmanuel Dandaura, fnipr; Mr. Yakubu Lamai, mnipr; Dr. Omoniyi Ibietan, fnipr; Mr. Ali-Balogun, fnipr; Ms. Tolulope Olorundero, mnipr; Barr. Chimdi Neliaku, mnipr; Maryam Sanusi, fnipr; Dr. Abdullahi Maiwada, mnipr; Dr. Adewale Oyekomi, mnipr; Prof. Saudat Abdul-Baqi, fnipr; Adetokunbo Modupe, mnipr; Dr. Monday Ashibogwu, fnipr; Mr. O’tega Ogra; Mr. Segun McMedal, mnipr; and Prof. Iyorza Stalinus, anipr.

According to Mr. Yomi Badejo-Okusanya, fnipr, Chairman of the NPRW 2025 National Planning Committee, “This year’s NPRW promises to be a convergence of ideas, people, and opportunities for our profession. From the roundtables to the cultural showcases, we are celebrating the essence and future of PR in Nigeria.”

In a dynamic and often unpredictable financial landscape like Nigeria, the ability to access funds at critical moments makes all the difference.  For entrepreneurs, financial agility is often the key to unlocking growth and success. With fluctuating prices and unexpected financial policies, many businesses in recent times have found themselves in need of short-term financial solutions to keep their business running smoothly.

Recognising this challenge, First Bank of Nigeria Limited, a pioneer in innovative financial solutions, redesigned the Retail Temporary Overdraft (RTOD) as a lifeline to empower businesses with swift, flexible cash flow support that can significantly empower business owners, allowing them to navigate the complexities of business management with greater ease.

The Retail Temporary Overdraft (RTOD) is aimed at providing customers with flexible temporary overdraft to meet urgent business financial needs.  The features of RTOD include:

  • Access up to N5million monthly subject to 10% of 6 months credit turnover from sales
  • Interest rate is competitive and subject to changes in money market realities
  • No tangible collateral is required
  • Facility tenor is 30 days, and this can be accessed up to 12 times in one year.

The benefits of this Facility include assistance in growing business volumes which position SMEs for higher facility limits. It is useful in emergency situations to meet urgent business needs. No tangible collateral is required to get the loan, and it is available throughout the year once the existing facility is repaid within 30 days.  The interest rate is cheaper due to the shorter facility tenor.

SMEs with regular cash flow who have maintained an account with FirstBank for a minimum period of six [6] months or 12 months in any other commercial bank are eligible for this facility. The amount drawable on this facility is N5million monthly, subject to 10% of the customers’ last 6 months credit turnover. Repayment is automatically deducted from (Sales or business proceeds) incoming receivables into borrower’s account within the stipulated time. To apply, customers need to show interest by contacting the FirstBank SME advisor or apply online by submitting the required documents. Approval could be as fast as 24 hours in cases where the customer fulfills all criteria.

To ensure that customers can maximise given opportunities and enjoy maximum turnover, the loan figure is N5 million globally for qualified customers who show a good track record of prompt repayment and also meet the stipulated criteria.

There are many customers who have been able to turn their businesses around with the help of this facility, such as Mr. Isola, the prime mover of Champion Five Limited, a food retail vendor who approached FirstBank for funding to augment his working capital and increase production.

 

The bank provided a N5million overdraft facility with a 30-day tenure which was made available to him for 12 months.  With the funding, Champion Five Limited was able to increase production by 50% and expand their customer base as well as employ more staff. The company has continued to grow in leaps and bounds.

FirstBank’s Retail Temporary Overdraft product has been so impactful to the businesses of both male and female entrepreneurs.

This contributed to the bank’s achievements, where it was honored with two highly prestigious awards at the Asian Banker Excellence in Retail Financial Services International Awards 2024. The awards, presented by The Asian Banker, crowned FirstBank as both the Best SME Bank in Nigeria and the Best SME Bank in Africa, a testament to the institution’s commitment to empowering Small and Medium Enterprises (SMEs) and driving retail financial excellence across the continent.

The Asian Banker awards are widely recognized as one of the most competitive and rigorous in the global banking industry. The evaluation process is stringent, focusing on various key performance indicators, including service delivery, customer experience, financial performance, and innovation in retail banking.

With an extensive panel of experts examining each institution’s track record, FirstBank’s recognition as the leading SME Bank in both Nigeria and Africa signals its outstanding leadership and vision in the African financial industry.

As the backbone of the Nigerian and African economies, SMEs play a crucial role in driving employment, innovation, and economic growth.

However, they often face significant hurdles, especially in securing adequate financial support. This is where FirstBank steps in, not just as a traditional banking partner, but as an enabler and advocate for the sector.

With its range of SME-focused financial products, from deposit products, loan packages to tailored advisory services, FirstBank has distinguished itself as a leader in providing SMEs the resources they need to thrive.

The bank’s FirstSME initiative is designed to support businesses in accessing capital, managing cash flow, and navigating the complexities of business development in a competitive market. This commitment is what earned FirstBank top recognition at the Asian Banker awards.

Source: Tosin Ajayi

NGX Chairman Alhaji Umaru Kwairanga To Head Supernews Conference On June 19

The  Chairman,  the Nigerian Exchange (NGX) Group is the Chairman of the SUPERNEWS Nigeria Annual Conference scheduled to hold on June 19th  2025  at Oriental Hotel, 3 Lekki Road, Victoria Island, Lagos at 10am.

The conference with theme, Power Of AI: Enhancing Efficiency And Customer Satisfaction For Better Financial Services Experience will have the Managing Director of Cowry Asset Management Limited, Mr Johnson Chukwu as its keynote speaker.

The Commissioner for Insurance, the National Insurance Commission (NAICOM), Mr Olusegun Ayo Omosehin and the Director-General, National Pension Commission (PenCom), Mrs Omolola Oloworaran will be Special guests of honour at the event.

Alhaji Umaru Kwairanga is an experienced investment professional with almost two decades of experience at the highest levels of the Capital Market, Banking and the Real Sector.

He possesses first and post graduate degrees in business administration, corporate governance and finance respectively.

He has also attended courses and training programs in fields relating to finance, investment and money market in reputable institutions including the Harvard Business School, New York Institute of Finance and the Wharton Business School.

Alhaji Kwairanga has professional certifications of the Chartered Institute of Stockbrokers (CIS) and the Certified Pension Institute of Nigeria and he is a member of the Abuja Commodities & Securities Exchange.

Alhaji Kwairanga has been Managing Director of a top notch stock broking firms for over a decade and a director in several blue chip organizations.

He is currently the Chairman of Ashaka Cement PLC, a prominent cement manufacturer in the North East of Nigeria and a quoted company on The Nigerian Exchange.

Alhaji Umaru Kwairanga as the Chairman of Ashaka Cement PLC, greatly improved the performance of the company and ensured that Gombe State Government and other local governments in Nigeria generated significant revenue from Ashaka Cement PLC through prompt payment of taxes and other statutory obligations.

The company has also been diligent in fulfilling its corporate social responsibility and maintaining excellent relations with its various stakeholders.

Alhaji Kwairanga is also the Group Managing Director/Chief Executive Officer of Finmal Finance Services Ltd, Director, Jaiz Bank PLC, Director, Central Securities Clearing System PLC, Chairman, Penman PFA Ltd and President, Certified Pension Institute of Nigeria.

He is a member of the Presidential Advisory Council on Industrial Relation, a Fellow of the Chartered Institute of Stockbrokers and a Fellow of the Certified Pension Institute of Nigeria.

According to the convener, SUPERNEWS Nigeria Publisher, Ngozi Onyeakusi, the choice of  Alhaji (Dr) Kwairanga as the Chairman of the conference is as result of his vast knowledge and  wealth of experience in the financial services sector.

The conference will equally feature a panel session which will include renowned experts like the  Founder/CEO, ZER Consultating Africa, Mrs Adeolu Adewumi-Zer, the Fmr. Managing Director, Hilal Takaful Insurance Limited, Mrs Thaibat Adeniran, the National President, Bank Customers Association of Nigeria (BCAN) Dr Uju Ogubunka and the Head Financial Institutions Ratings, Augusto & Co, Mr Ayokunle Olubunmi.

The  epoch making event will be bringing together other regulators, key stakeholders in the financial services, ICT sector, informal sector and small business owners.

Commenting on the theme of the conference, Onyeakusi said Artificial Intelligence (AI) adoption has the capacity to transform the Nigerian financial services  sector.

AI technology, according to experts, has gained so much popularity in businesses that analysts put global business value earned through artificial intelligence at $3.9 trillion in 2022, from $1.2 trillion in 2018.

 

The technology is believed to be capable of facilitating financial inclusion, thus bridging the gap between the masses and financial services, helping to bring these services closer to the people seamlessly.

AI offers an unprecedented opportunity to reach more customers, reduce operational costs, and enhance customer experience.

This confab is a learning opportunity designed to enhance awareness, deepen understanding of participants on the imperative and use  of AI in rendering banking, capital market, pension and insurance services, better, cheaper, faster and conveniently.

PenCom Highlights Strategy To Double Pension Contributors By 2027

… Aims At 20M Against 10m

Amaka Obiefuna

 

The National Pension Commission (PenCom) has mapped out strategies to double Pension Contributors from the already attained 10.65 million to 20 million by the end of year 2027.

 

 

 

The Director General of PenCom, Ms. Omolola Oloworaran, announcing this on Saturday at the Pension Industry Leaders’ Retreat in Lagos said the commission plans to meet the target through the expansion of Personal Pension Plan (PPP) formerly known as MIcro Pension Plan (MPP), engagements with stakeholders, and enforcement of pension compliance certificates, especially by state governments amongst other initiatives.

 

 

 

Noting that pension growth is essential for economic growth and development, she said the industry expects a 50 per cent growth in this regard and disclosed that as at February 28, 2025 the pension fund assets was N23.27 trillion and Retirement Savings Account (RSA) holders 10.65 million.

 

 

 

According to Oloworaran the retreat has provided opportunities for the industry to adopt new strategies, while also stating that the resolutions reached will be fully implemented before the end of first quarter 2026.

NAFDAC DG Challenges Academia , Pharmaceutical Industry On Dev Of New Medicines , Vaccines 

…. Initiates Collaborative Research & Development (R&D) Pilot Programme to Foster Industry-Academia Linkages

Dean Faculty of Pharmacy, Obafemi Awolowo University, OAU Ile-Ife, Osun State, Prof Francis Oladimeji, Son of the celebrant, Gbenga Marquis, Director General, National Agency for Food and Drug Administration and Control NAFDAC, Prof Mojisola Adeyeye, the 92-year-old wife of Prof. Marquis, Mrs Joanna Marquis and Deputy Dean, Faculty of Pharmacy, OAU, Dr. Dayo Adepiti, at the 2025 edition of Marquis Memorial Lecture at OAU, Ile-Ife… recently.

 

The Director General of the National Agency for Food and Drug Administration and Control (NAFDAC), Prof Mojisola Adeyeye, has called for a synergy between the nations pharmaceutical manufacturers and Nigeria universities in the development of new medicines and vaccines to reduce the overdependence on imported medical products.

According to a press release by Sayo Akintola , Resident Media Consultant NAFDAC,  describing President Bola Tinubu’s recent ban on the importation of readily available products in Nigeria as the needed elixir for the growth of the local industry, Prof Adeyeye urged the nations academia and pharmaceutical industry to forge a partnership in Research and Development to enable the development of new products, including medicines and vaccines, that can address specific healthcare needs in Nigeria.

The DG gave the admonition while speaking on Industry, Regulatory, and Academia: The Future of Pharmaceutical Research and Development in Nigeria is Now at the 38th edition of Prof Victor Olufemi Marquis Memorial lecture, organised by the Faculty of Pharmacy, Obafemi Awolowo University OAU, lle-Ife, Osun State.

 

According to the Guest Lecturer, universities are well-positioned to develop skills, and to transfer knowledge, and technology to the industry, adding that universities are a hub for creating new enterprises, and their roles in knowledge and technology innovation tend to become more diverse.

She averred that academiaindustry linkage is essential for any nation to survive because it creates a formal platform for joint planning and implementation of mutually beneficial ties to both sides.

Prof Adeyeye, who said that NAFDAC already has relationships with many universities in Nigeria, added that such collaborations would also create an opportunity for the university and students to have experiential learning in the manufacturing and service industry.

Prof Adeyeye described the Academia-Industry relationship as the lifeblood of the nation’s economic growth, adding that it also increases competitiveness and the development of new products.

She added that once economic growth and industry expand, societal challenges, especially unemployment, will be reduced, GDP will increase, and quality of life will improve.

She disclosed that over the last seven years, the Nigerian pharmaceutical industry has grown significantly, driven by increasing demand for healthcare solutions, strengthening the regulatory system, and other government initiatives, such as the Executive Order announced by President Bola Tinubu in 2024.

NAFDAC conducted a study on the top five imported pharmaceutical products and the top five products manufactured locally.

 

The results revealed that the top five products we imported were the same top five that were locally produced. It didnt make sense to continue importing these products, so the Agency enforced the Five Plus Five Regulatory Directive.

 

This means the first registration of an imported product that is part of the top five gives authorisation to sell for five years, and the next five years will be the last registration cycle, at the end of which the product must be manufactured locally.

About 30 per cent of new or re-built local manufacturing companies in Nigeria now are a result of the Five Plus Five Regulatory Directive, she said.

The NAFDAC boss maintained that the Agency is setting the stage for pharmaceutical R&D with the nations vast and untapped potential, stressing that global trends emphasise local innovations leading to self-sufficiency in healthcare. She insisted that we must be proud of what we produce in Nigeria, as our products are now of better quality than what they used to be because of the regulatory system strengthening.

NAFDACs role is pivotal in enabling this transformation and the time to build a robust R&D system for a healthier Nigeria is now, she said, adding that the COVID-19 Pandemic and ongoing global business realignment are happenings that should teach us lessons to not be too dependent on other countries for commodities that can be produced in country while maintaining general global trade collaborations.

She reiterated that the country will undoubtedly import some drugs, but we should detach ourselves from our addiction to donations and handouts from other countries, as God has given us so much talent that is being wasted. She said that R&D is not a luxury but a necessity for national health security and economic growth.

To jumpstart the process, Prof Adeyeye disclosed that NAFDAC plans to initiate a pilot R&D collaboration programme with participants drawn from the universities and a select group of Nigerian pharmaceutical manufacturers.

She said manufacturers would choose their preferred university partners on specific R&D projects, subject to their needs or gaps. She stressed that the Academia-Industry linkage must be based on legally endorsed confidentiality agreements and Memorandum of Understanding.

She told the very excited academic audience that the pilot programme, which she would oversee at arms length to avoid any conflict of interest where the product of the industry-academia collaboration comes to the Agency for regulatory approval. The program according to the Director General could be scaled up in the future.

She said she would work closely with the CEO of the Nigeria Natural Medicines Development Agency (NNMDA), who is also very active in the National Association of Pharmacists in Academia (NAPA), to oversee the selections from the universities to ensure that the collaboration will be productive.

The careful selection is to ensure that the identified faculty, which will be narrowed down to one or two researchers per university, has the experience to work with the industry to translate the research into a product, solve a pharmaceutical problem, and focus efforts on return on investment that will be made by the industry.

She gave the example of company A identifying a product with soon-to-expire patent protection, which the company can work with university researchers to reformulate a sustained-release version of the product to enhance patient compliance.

She mentioned possible areas of collaboration between the industry and academia, especially regarding clinical trials, or bioequivalence studies where the universities can partner on patient recruitment, trial coordination, and ethical approvals. Joint development of indigenous vaccines to fight endemic diseases in the West African region, like Lassa fever, should be the preoccupation of the universities.

She mentioned that another channel of participation or collaboration with vaccine manufacturing is technology transfer and local fill and finish of vaccines, adding that there are so many opportunities to collaborate with universities regarding vaccine manufacturing. She noted that the skill set required can only be addressed through effective and innovative collaboration between academia and industry.

The role of R&D in Nigeria cannot be overemphasised, especially in increasing local production of pharmaceuticals, reducing import dependence, creating jobs, improving healthcare outcomes, reducing disease burden, better access to medicines, improving targeted therapy, and treatment options, she said.

 

Because Nigeria is developing R&D clusters and creating an integrated innovation ecosystem, she said its time to supercharge its academic research community and the livelihoods of millions, hence national development.

Prof Adeyeye stated that Nigeria has the potential, stressing that We have the partnerships and the regulatory framework behind to back all this up. By focusing our efforts and leveraging collaboration, we can unlock Nigerias R&D capabilities.

She maintained that the pilot programme is the critical first step, as she urged academia to join hands with industry and NAFDAC to build a future where pharmaceutical innovation thrives in Nigeria, for Nigeria.

 

 

AGRA, Nestlé , TechnoServe Launch Groundbreaking Climate-Smart Agriculture Initiative In Nigeria

L-R: Dr. Rufus Idris, AGRA’s Country Director for Nigeria, Mrs. Adesuwa Akinboro, Country Director of TechnoServe Nigeria and Mr. Alidu Amadu, Head of Agricultural Services, Central West Africa, Nestle at the launch of the Strengthening Farmers’ and SMEs’ Resilience through Climate Smart Grain Production and Accessing the Structured Markets (StreFaS) initiative in Zaria, recently.

In a bold step towards building a climate-resilient agricultural sector, AGRA, Nestlé Nigeria, and TechnoServe have launched the Strengthening Farmers’ and SMEs’ Resilience through Climate Smart Grain Production and Accessing the Structured Markets (StreFaS) initiative in Nigeria.

StreFaS is a three-year initiative, funded by AGRA and Nestlé, that will run from June 2024 to October 2027. The program aims to support 25,000 smallholder farmers and eight aggregators across Kaduna and Nasarawa States, promoting sustainable production of maize, soybean, rice, and sorghum. It focuses on integrating regenerative agriculture into every step of the value chain, with particular emphasis on empowering youth and women.

StreFaS will help improve soil health, lower greenhouse gas emissions, increase biodiversity, and strengthen economic resilience. Furthermore, the program connects smallholder farmers to formal markets, including Nestlé’s supply chain, enabling them to receive premium prices for climate-smart produce.

L-R: Alhaji Nuhu Aminu, Chairman, All Farmers Association of Nigeria, Kaduna State Chapter, Alhaji Mohammed Rili, GM, Kaduna Agricultural Development Agency, Mrs. Adesuwa Akinboro, Country Director of TechnoServe Nigeria, Mr. Alidu Amadu, Head of Agricultural Services, Central West Africa, Mr Bege Dutse Bungwon, Kaduna State Ministry of Agriculture and Dr. Rufus Idris, AGRA’s Country Director for Nigeria, at the launch of the Strengthening Farmers’ and SMEs’ Resilience through Climate Smart Grain Production and Accessing the Structured Markets (StreFaS) initiative in Zaria, recently.

The launch event, held in Zaria, Kaduna State, brought together high-level representatives from the government, development partners, private-sector stakeholders, and members of the media. The event featured keynote speeches from implementing partners, a case study from a climate-smart farmer, and a powerful project overview underscoring the initiative’s role in transforming Nigeria’s grain value chains.

In her welcome address, Mrs. Adesuwa Akinboro, Country Director of TechnoServe Nigeria, described the STREFAS initiative as a transformative step for Nigeria’s agricultural sector. “This project represents a bold commitment to supporting smallholder farmers and agribusinesses with the tools, knowledge, and market access they need to thrive in the face of climate change. STREFAS is not just about boosting yields—it’s about regenerating our soils, restoring dignity to farming, and creating a more inclusive and sustainable future for communities across Kaduna and Nasarawa States,” she said.

“We are proud to co-lead this initiative that puts farmers first — not just by introducing new practices, but by rebuilding the very ecosystems that sustain farming — core to AGRA’s approach to sustainable and resilient food systems transformation,” said Dr. Rufus Idris, AGRA’s Country Director for Nigeria.

Speaking on Nestlé’s commitment, Mr. Wassim Elhusseini, CEO of Nestlé Nigeria, added:

“At Nestlé, we believe that good food starts with high-quality ingredients and the well-being of the people who produce them. Our partnership in this initiative underscores our commitment to sustainable sourcing and decarbonizing our value chain. Globally, we aim to source at least 50% of our key ingredients from farmers practicing regenerative agriculture by 2030. With an investment of over $1,000,000 in this project over the next three years, we aim to contribute towards establishing regenerative agriculture as the standard in the food industry, addressing both environmental and social priorities holistically.”

Speaking at the event, the Commissioner, Ministry of Agriculture, Kaduna State, Honourable Murtala Muhammad Dabo stated “This launch marks a significant milestone in our journey towards a more sustainable agricultural future. I commend TechnoServe and its partners for their dedication to promoting climate-smart agriculture practices in Kaduna State. Let us continue to work together to empower farmers, improve food security, and build a climate-resilient agricultural sector. I wish you all the best in this endeavor.”

On the sidelines of the launch, MAGGI celebrated the Soya Bean farmers who were part of the regenerative agriculture pilot project. One of the farmers Engineer Lawan Abdul, shared a compelling testimonial.

“Since I started adopting the strategies, we were taught in this project, my yields have increased by 100%. This was very surprising and encouraging for me. I am very happy with the outcome and thank the project partners and MAGGI for bringing this opportunity to us.”

The StreFaS initiative is aligned with AGRA’s 3.0 Country Strategy, Nestlé’s 2030 Climate resilience sourcing goals, and TechnoServe’s proven expertise in building market-driven solutions for rural prosperity.

By connecting smallholder farmers to better tools, markets, and capital, StreFaS will scale regeneration in ways that are profitable and empowering. As implementation continues, the program will deepen collaboration with government, private sector, and civil society partners to sustain scalable change across Nigeria’s grain value chain.

Airtel Reveals Mechanism Of Spam Alert Service 

 As the revolutionary Airtel Spam AI Alert Service rolls out across Airtel Africa’s 14 operating countries, Airtel Nigeria CEO, Dinesh Balsingh, has elaborated on the unprecedented benefits and operating principles guiding the Spam Alert Service. Designed to enhance user safety, this pioneering AI-driven product provides real-time defense against spam and fraudulent SMS messages, making it a gamechanger for mobile security across the continent.
The Airtel AI Spam Alert Service, which is engineered to automatically detect and label suspicious SMS messages as “Suspected SPAM” without requiring any user action or additional apps, leverages a robust AI algorithm that analyzes over 250 parameters.
 These parameters includee sender behavior, message frequency, message geographical distribution, and unusual activity patterns. Impressively, the service completes this process under just two milliseconds, offering near-instantaneous alerts while maintaining the privacy of user data by not reading message content.
Commenting on the breakthrough service, Dinesh Balsingh, CEO of Airtel Nigeria, stated: “Nigeria is not just a critical market for us—it’s a leader in digital adoption within the continent.
Our AI Spam Alert Service reflects our dedication to safeguarding our customers from the growing threat of SMS fraud. As the first of its kind in Africa, it addresses a fundamental issue of trust and security, which is paramount to our digital ecosystem. We’re proud to offer this service to Nigerians and extend it across our African footprint.”
Following its successful deployment in Nigeria, the Spam Alert Service has now launched in Tanzania and Kenya and is set to cover Airtel’s entire African operations. The service’s automatic activation for all Airtel customers, across both smartphones and feature phones, ensures maximum reach and accessibility.
Early feedback from subscribers has been overwhelmingly positive, with users praising the AI’s efficiency in flagging potentially harmful messages without interfering with their everyday communication.
By pioneering this AI-based spam detection technology, Airtel Africa demonstrates its commitment to leveraging cutting-edge innovation to resolve critical issues facing its subscribers. The AI Spam Alert Service not only protects users but also sets a new benchmark for mobile security standards in the region.
“Our goal is to build a safer digital environment for our users,” added Balsingh. “This innovation is part of our broader strategy to incorporate advanced technologies that address real challenges while enhancing the overall customer experience.”