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Moniepoint Set to Launch Second Edition of Nigeria’s Informal Economy Report in Abuja  

 
A new study by Moniepoint Microfinance Bank, a proudly Nigerian-founded and led financial institution, has revealed that 42 per cent of Nigeria’s informal sector operators do not have enough savings to survive beyond one month without income, underscoring the fragile financial position of millions of small businesses across the country. The yet to be released report has received generous support from the Ministry of Industry, Trade, and Investment, and Small and Medium Enterprise Development Agency of Nigeria, SMEDAN.
The findings form part of the second edition of Nigeria’s Informal Economy Report, which Moniepoint is set to officially launch on Friday, October 17, 2025, at the Abuja Continental Hotel.
Nigeria’s informal economy is the backbone of the nation’s livelihood, accounting for over 80% of employment and driving the majority of economic activity. For millions of Nigerians locked out of formal employment structures, this sector is essential in serving as a bulwark against poverty.
According to Moniepoint, the Informal Economy Report is designed to provide evidence-based insights that can guide policymakers, regulators, and financial institutions in shaping interventions that strengthen and formalise informal enterprises.
“The Informal Economy Report is a robust and important study that examines the informal market more closely and curates fresh insights into its realities. We believe its key outputs will serve ecosystem players and government well in policy direction and execution,” said Babatunde Olofin, Managing Director of Moniepoint Microfinance Bank, in a statement ahead of the launch.
The event is expected to attract senior government officials, regulators, lawmakers, industry leaders, trade associations, academics, civil society, and development organisations. It will feature keynote addresses, panel discussions, and presentations of the study’s findings, with participants exploring strategies to create a more inclusive and sustainable economic landscape.
The Informal Economy Report 2025 follows the success of the inaugural edition, which received commendation from the Federal Ministry of Industry, Trade and Investment, the Corporate Affairs Commission, SMEDAN, and leading business associations for providing credible data and actionable recommendations.
E1 Lagos GP: Lagos Trends Worldwide After Hosting Africa’s Maiden Water Racing Event

By Winifred Bosa

From L-R: Winners of The E1 Lagos GP Championship, Team Brazil; Timmy Hansen with Marit Stromoy, Team Drogba; Oban Duncan, Micah Wilkinson and Team Blue Rising; John Peeters and Sarah Misir, during the price presentation to the winners of the Championship at E1 Lagos GP 2025 in Victoria Island recently.

History was made on October 4 and 5, 2025, on the waters of the Lagos Lagoon as Team Brazil by Claure Group claimed victory at the E1 Lagos GP presented by FirstBank. The landmark event marked Africa’s debut on the global calendar of the E1 Series, the world’s first electric powerboat championship, and positioned Lagos at the forefront of sustainable sporting innovation.

The E1 Lagos GP drew thousands of fans to multiple viewing locations across the city, from the vibrant Official Fan Zone to the Ocean’s Club at Black Diamond Hotel and the Lagos Oriental Hotel Decks, which hosted premium hospitality experiences along the waterfront. The Official Fan Zone quickly became the heartbeat of the event, attracting young Nigerians with immersive brand activations, race simulators, live music, and a festival energy that perfectly matched the excitement on the water.

After an action-packed weekend of competition, Team Brazil by Claure Group finished first, fending off strong performances from Team Blue Rising who placed second, and Team Drogba Global Africa who finished third. Pilots Timmy Hansen and Ieva Millere-Hagin powered Team Brazil to victory, with Timmy Hansen named PIF Pilot of the Race. Racing was briefly delayed by a tropical storm over the Lagos Lagoon, but organisers and teams worked together to ensure the programme resumed safely and on schedule.

The outcome strengthens Team Brazil’s momentum as the season moves toward the Miami finale in November, while Team Brady retains the overall championship lead and a tight contest continues with Team Rafa. The Lagos event also reinforced the E1 Series’ sustainability mission, showcasing zero emission race technology and local legacy initiatives including coastal clean-up and mangrove restoration programmes.

The race weekend attracted local and international media, dignitaries and sporting figures and underlined Lagos’ capacity to host major global sporting events on its waterways. By successfully staging the first E1 race on African soil, Lagos joins Monaco, Dubrovnik and Doha as an E1 host city and affirms its positioning as a centre for innovation, culture and sustainable sport.

Redefining Power Solutions : Luminous Unveils Advanced Lithium , Solar System 

By Winifred Bosa

L-R: Movie Producer & Actor/Simba Group Featured Personality, Ramsey Nouah; Group Managing Director, Simba Group, Vinay Grover; Executive Director, Simba Group, Sohan Sharma; and Executive Director, Simba Group, Pradeep Balakrishnan, during the launch of Luminous Solar, Inverter and Batteries at Radisson Blu Ikeja GRA Lagos recently.

Simba Group, in partnership with Luminous Power Technologies, today hosted a landmark event at the Radisson Hotel, Ikeja, Lagos, to unveil the new range of Luminous solar inverters and lithium batteries. The gathering brought together the top 50 of Simba’s channel partners from across the country, underscoring the strong bonds that have defined the journey of Simba and Luminous in Nigeria.

The event was met with resounding success, as channel partners and industry stakeholders welcomed the new products with enthusiasm. Attendees highlighted Luminous’s pioneering role in shaping Nigeria’s inverter industry, alongside Simba Group’s unmatched strength in nationwide distribution and after-sales service infrastructure, as the foundation on which this next chapter is being built.

L-R: Product Manager, Luminous, Kulpreet Singh; Head of Marketing, Simba Group, Maureen Humphrey-Izzi; Group Managing Director, Simba Group, Vinay Grover; Retail Head, Simba Group, Bimpe Adebisi; and Simba Nigeria Business Manager for Luminous, Wasi Mohammed, during the launch of Luminous Solar, Inverter and Batteries at Radisson Blu Ikeja GRA Lagos recently.

Speaking at the launch, Mr. Vinay Grover, Group Managing Director of Simba Group in Nigeria, emphasized the changing energy needs of Nigerian households and businesses: “Nigerians need power solutions that are not just reliable, but also intelligent – capable of supporting modern lifestyles, from home offices to family entertainment. Our new lithium and inverter systems are designed precisely for this. They represent a smarter investment in uninterrupted living and peace of mind.”

Simba Group executives also underlined how solar and lithium technologies are reshaping the global energy landscape and opening new opportunities in Nigeria for energy independence, reliability, and cost efficiency.

The newly launched products reflect Luminous’s continued focus on innovation and tailoring solutions for regional requirements, while leveraging Simba’s longstanding reputation for trust, reach, and dependable service. Together, the companies reaffirm their commitment to delivering sustainable, high-quality, and future-ready energy solutions for Nigerian homes and businesses.

Simba Group is a leading Nigerian conglomerate with interests across diverse sectors, including mobility, power, communications, and customer experience. With a commitment to innovation, service, and trust, Simba has built a reputation for bringing world-class products and solutions to the Nigerian market.

Luminous Power Technologies is a global leader in power backup, storage, and solar solutions. With a strong focus on innovation and sustainability, the company delivers cutting-edge products – from inverters and batteries to solar applications – that meet the evolving energy needs of millions of homes and businesses across emerging and developed markets.

Edge Awards Honour Sucre House As Industry Leader In Influencer Marketing

Sucre House of Entertainment has been named the Outstanding Influencing Marketing Agency of the Year at the prestigious Edge Awards 2025, held on 26 September 2025 at the Balmoral Event Hall, Sheraton Hotels, Ikeja. The annual awards, organised by Marketing Edge Magazine, celebrate excellence and innovation in Nigeria’s marketing and communications industry.

Founded by visionary entrepreneur Olatunji Emmanuel .O., Sucre House has quickly become a trailblazer in the entertainment and influencer marketing space. The agency is widely respected for its creative campaigns, precision-driven execution, and commitment to helping brands and talents achieve global visibility.

Speaking after receiving the award, Olatunji said: “This honour is a reflection of our discipline, creativity, and the trust our clients place in us. At Sucre House, we don’t just deliver campaigns — we elevate experiences and set new standards.”

In just a few years, Sucre House has built an impressive portfolio, managing projects for top brands such as the European Union, Crocs, MAC Cosmetics, Tecno, Infinix, and Bet9ja. It is also known for nurturing leading influencer talents, including social media sensation Enioluwa, popularly called the lip gloss boy.

Marketing Edge CEO, John Ajayi, praised the agency’s rapid rise, describing it as “proof that with vision and excellence, Nigerian agencies can lead the future of influencer marketing.”

With this milestone, Sucre House is cementing its place as a powerhouse shaping the future of influencer marketing in Africa.

Crystal Garden Estate CEO Urges Legislation Against Unregulated Property Agents, Landlords 

By Ebele Ofodile
The Chief Executive Officer, Crystal Garden Estate, Amb. Kelvin Simeon Chukwu has called for legislation against unregulated property agents and Shylock landlords who engage in arbitrary increase of house rents.
Speaking during the celebration of 10 years anniversary of Crystal Garden Estate, the CEO urged governments at all levels to come to the rescue of tenants most of whom are not able to cope with the present economic situation.
According to him, the ugly situation prompted his bid to assist tenants to become landlords through the establishment of Crystal Garden Estate, which has turned scores of tenants to land and car owners.
“Today, we presented 14 cars as empowerment to our hard-working realtors. There is no free lunch. Whatever you achieve, know that it is a new beginning and as such, you don’t need to relax. You should push higher. It is sweeter if you get higher,” he said.
 He recalled the journey to Crystal Garden Estate  development, saying “it has been tasking with pressure, but it is part of life. We embraced them all and found a solution.”
 Sunday Owe Emmanuel, one of the lucky winners of the cars, said: “I am so happy being part of those who won cars in Crystal Garden Estate. Last year December, I saw people who won cars and said to myself, you must win a car this year in Crystal Garden Estate. And today, God has made it possible for me.
“In Crystal Garden Estate, you must be hard working, dedicated and focused for you to win a car or own a property.
 “They never promised or said something and failed to fulfill what they promised. They are reliable and trustworthy,” he stated.
Chief Godwin Okeke, Chairman, G.U.O Group,  Dr. Cosmas Maduka, CEO, Coscharis Group, Anambra State House of Assembly lawmaker, Hon. Jude Umennajiego, Anambra  State Chairman of Civil Liberties  Anambra  Organization, CLO, Com Vincent Ezekwueme were among the dignitaries that graced the occasion.
Union Bank Strengthens Media Ties At Informal Mixer Event

Amaka Obiefuna

 

 

Union Bank of Nigeria recently hosted an informal and engaging meet-and-greet session with leading media professionals at The Stallion Plaza, its headquarters in Marina, Lagos.

 

The event, held at SpaceNXT, the Bank’s purpose-designed co-creation hub for innovators and creators, was conceived as a relaxed platform to foster personal connections and deepen mutual understanding between the Bank and media partners.

 

Rather than a formal media briefing, the gathering offered a convivial atmosphere for open conversation, reinforcing Union Bank’s recognition of the media’s essential role in shaping public discourse and amplifying the Bank’s mission.

 

In attendance were senior members of Union Bank’s leadership team, including Taiwo Shote, Executive Director, Corporate Banking, Lagos and West, Olufunmilola Aluko, Chief Brand and Marketing Officer, and Tosin Ibikunle, Head of Strategy and Planning. Olufunmilola and Tosin reaffirmed the Bank’s commitment to transparent and collaborative engagement with the press, while underscoring Union Bank’s strong operational footing and readiness to meet all regulatory obligations.

 

Speaking at the event, Mrs Olufunmilola Aluko, Chief Brand and Marketing Officer, said:
“This event is simply about people. Union Bank has been around for 108 years, and we’ve seen it all – from telegram banking to digital wallets; from handwritten ledgers to AI-driven analytics. But through all that change, one constant has remained: the media.

 

We wanted to create a space that is unhurried and human, where we can meet without the weight of deadlines or the formality of press statements, because behind those exchanges are real people who share a deep commitment to storytelling, to truth, and to impact. So today, we wanted this session to simply be about reconnecting; banker to journalist, human to human.”

 

Echoing this spirit of partnership as the Bank looks ahead, Mr Tosin Ibikunle, Head of Strategy and Planning, added:
“Union Bank has diligently enhanced its systems and service experience in preparation for the next phase of growth. As we roll out new initiatives, we look forward to partnering with the media to tell our story with clarity, accuracy, and impact.”

 

The event also featured a tour of Stallion Plaza and a networking session, reflecting the Bank’s intention to create a warm, human connection beyond the usual formalities of corporate communication.

 

Union Bank remains steadfast in its commitment to building trust through open dialogue and meaningful partnerships with the media and all stakeholders, as it continues to serve customers and contribute positively to Nigeria’s economic landscape.

Tinubu’s Endorsement Of Prince Nicholas Ukachukwu : The Echo Of A New Beginning In Anambra 

By Nnedinma Michael
When President Bola Ahmed Tinubu placed the APC flag in the hands of Prince Nicholas Ukachukwu and his running mate, Senator Uche Ekwunife, and declared, “Go and get me Anambra. We will work with you, come rain, come shine,” those words were not mere political utterances. They were a declaration of faith, a call to destiny, and a solemn commitment that still echoes powerfully across Anambra today.
That moment ignited a new hope in the hearts of Ndi Anambra — hope that after years of disconnection from the center, the state is finally on the path to reclaiming its rightful place in Nigeria’s mainstream development. It was a symbolic transfer of trust and responsibility, an expression of confidence in the capacity of Prince Nicholas Ukachukwu to bring home victory and deliver purposeful governance that speaks to the dreams of the people.
Since that charge was made, it has continued to reverberate across communities, towns, and political circles in Anambra. For many, it was not just the President speaking to a candidate; it was the leader of the nation placing the destiny of an entire people into the hands of a man he believes can transform their lives and lift their hopes.
Prince Nicholas Ukachukwu, fondly called Ikukuoma, is not a stranger to the people. He is a man whose life has been defined by service, generosity, and integrity. Over the years, he has touched lives in countless ways — building schools, offering scholarships to thousands of children, empowering widows and artisans, providing healthcare for the sick, and supporting churches and community development projects. He is a man who lives for others, a man whose philanthropy has long spoken louder than politics.
Born into a humble but noble family in Osumenyi, Nnewi South, Ukachukwu rose through sheer determination, faith, and hard work. He built a successful career in business, real estate, and public service, creating opportunities for others along the way. His story is the story of resilience and grace — the story of a man who believes that true leadership begins with compassion.
It is this same compassion that now drives his vision for Anambra State. For Ukachukwu, politics is not about power; it is about people. His mission is simple — to make Anambra work again, to restore peace and order, to create jobs for the youth, and to return dignity to governance. His dream is to see an Anambra where every child has the opportunity to succeed, where the elderly are cared for, and where hard work is rewarded.
President Bola Tinubu’s endorsement of Ukachukwu is, therefore, not just political strategy — it is a seal of trust. Tinubu, a man who has built his legacy on identifying and nurturing capable leaders, has seen in Ukachukwu the qualities that produce results. The President’s confidence in him is a reflection of his understanding that the man who once built successful ventures from scratch, who has given back to his people even without holding office, will certainly deliver excellence when given the platform to lead.
The President’s words, “We will stand by you, come rain, come shine,” are still ringing with renewed energy. They represent a partnership that promises to bring Anambra closer to the center of national development. They represent a future where Anambra will no longer stand alone but will stand tall among states driving the engine of Nigeria’s growth.
The APC has shown readiness and unity of purpose. From the leadership at the national level to the grassroots in Anambra, there is a renewed sense of mission. The support behind Ukachukwu is broad and determined, driven by the belief that the time has come to end years of stagnation and isolation. The people are eager for change — for a leadership that is accessible, competent, and compassionate.
President Tinubu’s confidence in Prince Ukachukwu is rooted in his belief in performance and results. His own story in Lagos remains a testament to what vision and discipline can achieve — turning a state once burdened with challenges into a global economic hub. That same model of effective governance is what he envisions for Anambra through Ukachukwu — a leadership that will prioritize development, attract investments, ensure security, and build prosperity from the grassroots up.
Ukachukwu’s leadership style embodies humility and inclusiveness. He is a bridge between the old and the young, the wealthy and the struggling, the traditional and the modern. His partnership with Senator Uche Ekwunife further strengthens this ticket, combining experience, gender balance, and grassroots reach. Together, they present a credible and balanced team that understands both the pulse and the pain of the people.
The message they carry is clear: it is time to bring Anambra back to the center of national decision-making, to reconnect the state to the heartbeat of Nigeria’s progress. The people of Anambra are hardworking, creative, and enterprising. What they need is a government that matches their energy with vision — one that can unlock their full potential through access to opportunities and federal partnerships.
The endorsement of Prince Ukachukwu has already transformed the political mood across Anambra. From Awka to Onitsha, Nnewi to Ihiala, and the riverine communities of Ogbaru to the uplands of Aguata, there is a quiet but growing belief that change is finally within reach. The APC’s message of development, good governance, and security is resonating deeply with the people.
Ukachukwu’s campaign is people-driven, focusing on the real issues affecting everyday lives. He speaks about restoring peace and ending insecurity, about empowering small businesses, fixing roads, improving schools and hospitals, and giving every community a voice in government. He believes that leadership must be about compassion, not corruption — about results, not rhetoric.
The charge from the President continues to serve as both a motivation and a reminder that Anambra deserves more — that the state must rise again to its full glory. Ukachukwu represents that hope, that promise, that possibility. He stands as a bridge between the federal government and the people, ready to harness national support for local growth.
For too long, politics in Anambra has been about survival and power play. Ukachukwu’s entry has changed the narrative. He brings credibility, humility, and a clear roadmap for progress. His story inspires confidence because it is real — it is the story of a man who has lived among the people, who knows their struggles, and who has never turned away when they called.
President Tinubu’s blessing has given this movement wings. The same energy that transformed Lagos, the same leadership philosophy that emphasizes efficiency, accountability, and results, is now being extended to Anambra through this alliance. It is a partnership that promises peace, growth, and inclusion.
Ndi Anambra now stand at the crossroads of history. The future beckons — a future of unity, security, and shared prosperity. The voice of hope is clear, the direction is set, and the leadership to drive it is ready. With Prince Nicholas Ukachukwu at the helm, backed by the vision and support of President Bola Ahmed Tinubu, the journey toward a greater Anambra has already begun.
Every generation is given one opportunity to choose a leader who truly embodies its aspirations. This is that moment. Prince Nicholas Ukachukwu is that leader. His heart beats for the people, his hands are clean, and his vision is clear. He is not seeking power for privilege; he is seeking leadership for purpose.
The time has come for Anambra to take its rightful place. The time has come to heed the call that still echoes — “Go and get me Anambra.” It is a call for service, a call for unity, and a call for progress. Under Prince Nicholas Ukachukwu, the Light of the Nation will shine brighter, and Anambra will rise again — stronger, safer, and more prosperous than ever before.
Anambra deserves better. Anambra deserves a new beginning. Anambra deserves Prince Nicholas Ukachukwu.
Expert Urges Journalists To Prioritize Regular Health Checks

 

Seating from left: Boluwatife Ibrahim (Digital Marketing Officer), AIICO Insurance Plc; Dr. Monday Ashibogwu; Mrs. Nkechi Naeche-Esezobor (Chairperson), Nigerian Association of Insurance and Pension Editors (NAIPE); Ademola Adenekan (Senior Manager, Marketing Communication), AIICO Insurance Plc; and Mrs. Ebere Nwoji, (Editor, Insurance and Pension), ThisDay Newspapers; and other members of NAIPE, during a one day training workshop organised by AIICO Insurance for NAIPE members in Lagos recently.

Amaka Obiefuna

 

Media professionals have been advised to adopt regular medical checkups as a proactive measure to safeguard their health and ensure early detection and management of potential health issues.

 

Speaking during a health talk session at a training organized by AIICO Insurance Plc for members of the Nigerian Association of Insurance and Pension Editors (NAIPE) recently in Lagos, Dr. Ademola Osokoya, Assistant Manager at AIICO Multishield Limited, emphasized the importance of routine health assessments.

 

“Regular medical checks help individuals understand their health status, which is crucial for timely intervention and effective management of any health condition,” Dr. Osokoya noted.

 

He encouraged journalists and other professionals to leverage available health insurance options to access quality healthcare services.

 

Introducing the AIICO Multishield Health Insurance Plan, Dr. Osokoya described it as a comprehensive and accessible solution tailored to meet the diverse healthcare needs of individuals, families, small businesses, and corporate organizations.

 

He said the Multishield Plan offers flexible coverage tiers that include in-patient and out-patient services, specialist consultations, diagnostic tests, maternity care, and emergency treatment, all at affordable premiums.

 

He noted that a standout feature of the plan is its broad network of accredited healthcare providers across Nigeria, enabling enrollees to access top-quality medical facilities nationwide.

 

In line with efforts to expand healthcare access for Nigerians, he added that AIICO has extended the plan’s benefits to informal sector workers and underserved populations.

 

“By collaborating with cooperatives, trade unions, and grassroots organizations, the company is contributing to the national push for Universal Health Coverage and supporting more Nigerians in securing reliable healthcare.

 

“Technology plays a central role in the Multishield offering, with digital platforms enabling seamless enrollment, claims tracking, and policy management. This integration enhances customer experience by providing transparency, reducing administrative delays, and building trust.

 

The Multishield Plan is fully compliant with the standards set by the National Health Insurance Authority (NHIA), underscoring AIICO’s commitment to regulatory standards, service excellence, and integrity. Beyond medical coverage, the plan aims to deliver peace of mind by shielding individuals and families from the financial impact of unforeseen health emergencies.

 

With this initiative, AIICO Insurance Plc reinforces its dedication to improving healthcare accessibility and affordability for all Nigerians, while encouraging professionals—especially in the media—to take charge of their health through preventive care and insurance coverage.

OADDA Proffers Solutions to Devastating Flood in Omabala Region. 

By Ebele Ofodile 
The Old Anambra  District
Development Association (OADDA) has proposed several solutions to mitigate the annual flooding in the Omabala region of Anambra State.
It includes,  the dredging of River Niger and Omabala River to increase their capacity and prevent overflow.
This would help contain more water during flood seasons and reduce the risk of flooding in surrounding communities.
Constructing a dam on the River Niger to regulate water flow and prevent flooding.
This dam could also be used for hydroelectric power generation, providing energy for the region and creating jobs for youths.
Improving physical infrastructure, such as roads, to enhance connectivity and facilitate economic development in the region. Specifically, OADDA highlighted the need for urgent attention on the Onitsha-Anaku-Omasi road and the Otuocha-Umueze Anam-Nzam-Oroma Etiti-Inoma road.
OADDA is ensuring that  the local community benefits from oil and gas activities in the area, including employment opportunities for youths.
The OADDA’s efforts align with previous initiatives by the Anambra State Government to mitigate flooding. In 2024, the state government collaborated with the United Nations Development Programme (UNDP) to develop a flood-resilient plan for the state.
Additionally, UNICEF has provided life-saving assistance to flood-affected families in Anambra State, highlighting the need for sustained support and intervention in the region.
“Golden Jubilee Of Grace: Stella Ihezue Celebrates 50 Years Of Life And Legacy”

By Nnedinma Michael
In a grand celebration that will be etched in the memories of guests for a lifetime, Mrs. Stella Azuka Ihezue, mother-in-law to Prince Nicholas Ukachukwu, marked a major milestone in her life – her 50th birthday. The golden jubilee celebration, aptly themed “Stella’s Jubilee of Grace,” was a testament to her life of faith, love, and resilience.
Held at the prestigious Signature Hall of Radisson-Onyx Hotel in Awka, Anambra State, the event was a spectacular display of elegance, warmth, and heartfelt tributes. Family, friends, and dignitaries converged to honor a woman whose presence radiates strength, humility, and divine favor.
Prince Ukachukwu, in a moving tribute, described Mrs. Ihezue as a rare gem, whose presence brings light, warmth, and wisdom into every room she walks into. He commended her for nurturing a closely-knit family anchored on love and faith, and praised her for being a pillar of strength and inspiration to her family.
The celebrant, in her remarks, expressed profound gratitude to God for guiding her through life’s journey. She thanked her family and in-laws for their love and support, and spoke glowingly of Prince Ukachukwu’s compassion and generosity.
The evening was filled with music, laughter, and dancing, as guests were treated to soul-stirring performances and gourmet dishes. The celebration was a fitting tribute to a remarkable woman who has lived a life of purpose and has touched the lives of many.
As Mrs. Ihezue embarks on the next chapter of her life, she is surrounded by the love and admiration of her family and friends. Her 50th birthday celebration will be remembered for years to come as a testament to her legacy of love, faith, and resilience.