President of the Independent Shareholders Association of Nigeria (ISAN), Moses Igbrude, has emphasised the need for efficient and impartial implementation of the Investments and Securities Act (ISA) 2025 to drive sustainable growth in the nation’s capital market.
Speaking at the 2025 yearly conference of the Capital Market Correspondents Association of Nigeria (CAMCAN) held in Lagos, Igbrude highlighted that for ISA 2025 to achieve its full potential, regulators must not only enforce the law independently but also build the capacity to oversee all its provisions effectively.
According to Igbrude, the Securities and Exchange Commission (SEC) should exercise a regulatory role with fairness and foresight, allowing market operators the freedom to execute their business activities without interference, while ensuring that compliance and governance standards are maintained at the highest level.
He stressed that regulators must build and sustain the capacity to effectively manage every aspect of ISA 2025, from emerging digital assets to traditional investment instruments, ensuring that the law is not only enforced in the short term but embedded into long-term strategic planning.
Highlighting the importance of infrastructure, Igbrude pointed out that the development of a fully integrated and synchronized ecosystem is essential to facilitate seamless market operations.
He envisioned a one-stop platform where all stakeholders, including investors, operators, and regulators, can interact efficiently from the initiation to the conclusion of every transaction.
Such infrastructure, he noted, would eliminate operational bottlenecks, enhance transparency, and create a cohesive environment that fosters innovation, efficiency, and trust across the market.
Igbrude also placed significant emphasis on investor protection, particularly for minority and core shareholders, noting that safeguarding their interests is fundamental to cultivating confidence and participation in the capital market.
He advocated for mandatory representation of minority shareholders on corporate boards, ensuring that their voices are heard in key decision-making processes.
This, he argued, would strengthen corporate governance, reduce the risk of exploitation, and provide a more equitable distribution of power within market institutions.
Beyond regulatory enforcement and infrastructure, Igbrude stressed that effective implementation of ISA 2025 requires education, awareness, and collaboration among all market participants.
He said there is need for investors to understand their rights while operators and regulators recognize their responsibilities and consistently demonstrate the competence necessary to uphold the law.
By adopting this holistic approach, Igbrude argued that Nigeria could transform its capital market into a dynamic, transparent, and inclusive system capable of supporting long-term economic growth and positioning the country as a model for financial innovation and governance in Africa and beyond.
Igbrude emphasized that the promise of ISA 2025 will only be realized through deliberate, coordinated action where independent regulation, strategic capacity building, comprehensive infrastructure, and meaningful investor protection converge to create a market that is efficient, fair, and future-ready.
This, he noted, is the pathway to ensuring that Nigeria’s capital market not only meets domestic expectations but also competes effectively on the global market.
The Federal Inland Revenue Service (FIRS) has observed recent online commentary, particularly a letter credited to the Northern Elders Forum (NEF) regarding a Memorandum of Understanding (MoU) signed with France’s Direction Générale des Finances Publiques (DGFiP).
While we appreciate the public’s vigilance and patriotic concern, it is, however, important to provide clarity on the misconceptions arising from the event.
MoU is a standard, globally recognised cooperation framework focused solely on technical assistance and capacity building. It does not grant France access to Nigerian taxpayers’ data, digital systems, or any element of our operational infrastructure.
All existing Nigerian laws on data protection, cybersecurity, and sovereignty remain fully applicable and strictly enforced. The Nigeria Revenue Service (NRS), like its predecessor (FIRS), places the highest premium on national security and maintains rigorous standards for the protection of all taxpayers’ information.
Similar MoUs are signed by tax administrations around the world to promote collaboration, knowledge exchange, and the adoption of global best practices.
The DGFiP is among the world’s most advanced tax authorities, with over a century of institutional experience and deep expertise in digital transformation, taxpayer services, governance, and public finance.
This partnership simply enables Nigeria to learn from that experience. It is advisory, non-intrusive, and entirely under Nigeria’s control.
Contrary to misconceptions, the MoU does not displace local technology providers. FIRS and the emerging Nigeria Revenue Service (NRS) continue to work closely with Nigerian innovators such as NIBSS, Interswitch, PayStack, and Flutterwave.
The MoU does not include the provision of technical services; it is limited to knowledge sharing, institutional strengthening, workforce development, policy support, and best-practice guidance.
We welcome robust public engagement on tax reforms, but such conversations must reflect the actual content and purpose of the agreement.
Rather than undermining Nigeria’s sovereignty, this MoU strengthens it by helping to build a modern, capable, globally competitive tax administration one firmly in command of its systems, data, and strategic direction.
FIRS remains committed to transparency, professionalism, and partnerships that advance Nigeria’s long-term economic development.
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele
By Fidelia Okafor
Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has commended the exemption of the Small and Medium Scale businesses from the New Tax reform laws with effect from January, 2026.
Nigeria’s long and often contentious journey toward a fair, efficient and growth-oriented tax system appears to have reached a decisive milestone with the ongoing tax reforms.
Speaking at a one-day workshop organised by the Federal Inland Revenue Service (FIRS), soon to transition into the Nigeria Revenue Service (NRS), in Lagos, Taiwo Oyedele, described the reforms as a historic turning point in how the country raises and manages public revenue.
Addressing journalists at the event, Oyedele framed that the changes not merely as technical adjustments to tax laws, but as a fundamental reset designed to rebuild trust between government, citizens and businesses.
For decades, Nigeria’s tax system has been criticised for its complexity, inequity and opacity. Multiple taxes, overlapping authorities, arbitrary assessments and poorly targeted incentives created an environment that discouraged compliance and stifled investment. Citizens and businesses alike called for a simpler, fairer and more transparent framework—one that supports economic growth while ensuring that everyone contributes their fair share.
According to Oyedele, the 2025 reforms answer that call. They are anchored on three core pillars: fairness and equity, growth and competitiveness, and simplification and efficiency. Together, these pillars aim to align Nigeria’s tax regime with global best practice while remaining sensitive to the country’s unique economic realities.
At the heart of the reforms is a deliberate effort to put people first. Oyedele emphasised that the new tax laws are pro-masses, designed to protect low-income earners and reduce the cost of living for ordinary Nigerians. Minimum wage earners are now fully exempted from personal income tax, a move expected to increase disposable income for millions of workers at the bottom of the income ladder.
In addition, Value Added Tax (VAT) has been removed from basic necessities such as staple food items, education, healthcare, shared road transport and rent. The implication, Oyedele noted, is that families will enjoy lower costs for school fees and medical bills, while workers earning the national minimum wage will no longer see their modest earnings eroded by income tax.
Beyond households, the reforms place strong emphasis on unlocking business growth. Describing the new framework as pro-business, Oyedele explained that it lowers the cost of starting and running enterprises while removing bureaucratic bottlenecks that have long made tax compliance burdensome.
One of the most significant changes is the ability for businesses to claim input VAT on assets and services, a reform that directly improves cash flow. Clearer rules on expense deductibility, faster tax refunds and measures to curb arbitrary tax assessments are also expected to enhance certainty and confidence.
Notably, the minimum tax based on turnover often criticised for penalising struggling firms, has been scrapped, while exit and reorganisation rules have been clarified to support corporate restructuring. A manufacturing firm investing in new equipment or a start-up acquiring critical software can now recover VAT paid on those purchases, freeing up resources for expansion and innovation.
The reforms also seek to energise Nigeria’s capital markets and improve access to finance. Oyedele explained that clarity and efficiency are essential for investor confidence, and the new laws reflect this understanding. Withholding tax on bonus shares has been eliminated, capital gains tax exemption thresholds have been raised, and reinvestment exemptions introduced alongside deductions for capital losses.
In a move welcomed by subnational governments, state government bonds are now tax-exempt, joining federal government bonds in that category. Small investors, meanwhile, stand to benefit from lower effective tax rates on capital gains, while withholding tax on fixed-income investments is now treated as final tax for individuals and non-residents.
By way of illustration, Oyedele noted that an investor selling shares worth N120 million with a gain of N8 million would now be exempt from capital gains tax, a change expected to encourage more Nigerians to save and invest in domestic companies.
Another critical objective of the reforms is correcting long-standing economic distortions. Nigeria’s previous incentive regime was often described as a patchwork of poorly targeted concessions that bred inefficiency and unfairness.
Under the new system, incentives have been rationalised and made more transparent. Priority sectors now benefit from investment-based tax credits tied to minimum investment thresholds, ensuring that incentives reward real economic activity rather than mere tax planning. Free trade zone regimes have been streamlined to create a level playing field between companies operating within and outside such zones.
Importantly, businesses are now allowed to settle taxes related to foreign currency transactions in naira, a measure aimed at easing pressure on the foreign exchange market. Oyedele cited the example of an agribusiness investing in processing facilities that can now enjoy predictable incentives, while a fintech firm paying for imported software can meet its tax obligations in naira instead of sourcing scarce foreign exchange.
Progressivity is another defining feature of the 2025 tax reforms. Oyedele said the new framework strengthens Nigeria’s commitment to a progressive tax system in which the burden is distributed according to ability to pay. A new zero percent income tax band has been introduced, alongside capped taxation of benefits in kind, rent reliefs and reduced effective tax rates for middle-income earners.
These measures are designed to protect the vulnerable and the middle class, while high-income earners are expected to contribute more through an increased top marginal rate. Under the new structure, a mid-level professional earning N5 million annually would enjoy a lower effective tax rate, whereas a top executive earning N8 million would see a modest increase in tax contribution, reinforcing the principle of equity.
Encouraging formalisation among small businesses is another major thrust of the reforms. Oyedele described small enterprises as the backbone of the Nigerian economy, yet noted that many remain outside the formal tax net due to fear of high taxes and administrative complexity.
To address this, qualifying small companies now enjoy a zero percent corporate income tax rate, exemptions from VAT and withholding tax obligations, and PAYE exemptions for their typically low-income employees. A bakery incorporated as a company with annual turnover below N100 million, for example, would pay no corporate tax and would not charge VAT, yet would still benefit from legal recognition and improved access to credit as a formalised entity.
Ensuring tax equity across the economy is also a key goal. The new framework addresses double taxation, prevents double non-taxation and creates a level playing field between traditional and digital businesses.
Oyedele stressed that equal taxpayers should be treated equally, while unequal taxpayers should be treated differently in line with their circumstances. This principle ensures, for instance, that a local brick-and-mortar shop and an online marketplace selling the same products are subject to the same tax rules, fostering fair competition in an increasingly digital economy.
The reforms also take a tougher stance against tax evasion and aggressive avoidance, practices that drain public resources and undermine trust in the system.
According to Oyedele, loopholes have been closed, global anti-avoidance measures adopted, and stricter penalties introduced for non-compliance. Enhanced tax intelligence tools such as e-invoicing, fiscalisation and stronger transfer pricing rules make evasion riskier and more costly. A multinational enterprise attempting to shift profits abroad through artificial charges, for instance, now faces the risk of disallowed deductions and the imposition of a top-up tax to ensure a minimum effective rate of 15 percent.
Improved tax administration and governance underpin all these changes. The establishment of the Nigeria Revenue Service, alongside a strengthened Joint Revenue Board and state tax agencies, introduces clearer accountability and reporting obligations. Taxpayer rights are reinforced through the creation of the Office of the Tax Ombud, providing an independent channel for redress.
A new legal framework for whistleblowing and public reporting of tax incentives is also designed to expose abuse and corruption. Dispute resolution mechanisms have been enhanced through an expanded scope for the Tax Appeal Tribunal, offering taxpayers greater confidence in the fairness of the system. As Oyedele noted, a small trader who feels unfairly treated by a tax officer can now seek redress through the Tax Ombud, a significant shift toward accountability.
Finally, the reforms address the long-standing problem of multiple and overlapping taxes. By reducing the number of taxes, streamlining audits and harmonising taxpayer identification and collection across all levels of government, the new system promises greater simplicity and predictability. A logistics company operating across several states, for example, will now face fewer levies and coordinated audits rather than conflicting demands from multiple authorities.
Taken together, the 2025 tax reforms represent a bold attempt to reshape Nigeria’s fiscal landscape. As Oyedele told journalists in Lagos, the changes are not just about raising revenue, but about building a system that supports people, empowers businesses and strengthens the economy. If effectively implemented, the reforms could mark the beginning of a new social contract—one in which taxation is seen not as a burden imposed arbitrarily, but as a fair contribution to Nigeria’s shared progress.
Anambra State, came to the state government recently to protest a wave of violence that has left about 20 people dead, including a priest’s wife and children, and resulted in roughly 200 houses—among them the monarch’s palace and several churches—being burnt.
Their spokesperson,Nze Donatus Olikaenyi( Nzeakonobi of lilu) Emeka, told Secretary to the State Government Solo Chukwulobelu that the attacks began years ago, with the first incident claiming 11 lives and a later massacre on Sunday killing 9 more. He said the community has been forced to abandon burials, that many residents are now living as refugees in neighboring villages, and that anyone who speaks out is often killed the next day.
The protesters carried placards such as “Soludo rescue us,” “Lilu is on the verge of extinction,” and “Is Lilu actually in Anambra State?” The traditional ruler, Igwe Godson Onyediri, described the murder of Venerable Gabriel Obiesie’s wife—who was burnt with the St Andrew’s Anglican church parsonage, their children, cars and property—as sacrilegious and inhuman.
Chief Chukwulobelu acknowledged the community’s peaceful stance, said Governor Chukwuma Soludo is aware of the situation and is working on a lasting peace, and promised to present their grievances to the governor later that day .
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele (middle) addressing journalists at a one-day workshop organised by FIRS for journalists in Lagos on Friday, December 12, 2025.
The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has reaffirmed that the Federal Government’s ongoing tax reforms are designed to put Nigerians at the centre of fiscal policy while unlocking new opportunities for businesses and the national economy.
Oyedele made this remarks yesterday at a one-day workshop organised by the Federal Inland Revenue Service (FIRS), for journalists at Radisson Blu, Ikeja, Lagos soon to transition into the Nigerian Revenue Service (NRS).
Speaking on the broad benefits of the reforms, Oyedele said the new tax framework prioritises workers’ welfare by reducing the overall tax burden, eliminating multiple taxation and ensuring that low- and middle-income earners retain more of their disposable income.
According to him, expanding exemptions on essential goods and services, such as food, healthcare, and education, will shield vulnerable households and drive consumption-led growth.
He noted that Small and Medium Enterprises (SMEs) stand to gain significantly from the reform package, as the streamlined tax structure and simplified compliance processes will lower operational costs and encourage more informal businesses to formalise.
“Minimum wage earners are exempted from personal income tax, amall businesses enjoy broader exemptions and Value Added Tax (VAT) no longer applies to essentials such as basic food, education, healthcare, shared road transport and rent,” he stated.
Oyedele added that improved access to finance, energised capital flows and the removal of bureaucratic bottlenecks would create a more supportive environment for SMEs to scale and contribute meaningfully to employment generation and national growth.
The committee chairman noted that the reforms are targeted at correcting longstanding economic distortions that placed disproportionate pressure on smaller businesses and lower-income groups.
“Small businesses are the backbone of our economy, yet many remain outside the tax net. The reforms encourage them to formalise by granting them a zero percent corporate income tax rate for qualifying small firms, exempting them from VAT and Withholding Tax (WHT) obligations and ensuring Pay As You Earn (PAYE) tax exemptions for their typically low-income employees, Oyedele further explained.
By advancing progressivity within the tax system, he said, the government aims to ensure a fairer distribution of tax responsibilities while promoting economic inclusion.
Oyedele also highlighted the government’s determination to combat tax evasion and avoidance by deploying stronger compliance frameworks, enhanced digital systems and more transparent administrative processes.
He described the transition to a harmonised tax system with fewer, clearer, and better-defined taxes as a major step toward building trust between taxpayers and authorities and improving overall governance.
He emphasised that improved tax administration and the establishment of a unified revenue service would help reduce duplication, minimise compliance costs for businesses and improve revenue collection without imposing new burdens on the populace.
Oyedele said the new reforms would strengthen the broader economy by creating a more predictable fiscal environment, attracting investment, driving business expansion and enabling government to mobilise resources more efficiently for national development.
L–R: Patrick Okorie, Regional Head, South, Heirs General Insurance; Ijeoma Onwujekwe, Marketing Executive, Heirs Insurance Group; Kayode Kolade, Winner, 2025 Heirs Insurance Retirement Dream Competition; and Andrew Ahwin, Regional Head, South, Heirs Life Assurance; at the presentation of the Heirs Insurance Retirement Award at the winner’s home in Port Harcourt, on Tuesday, December 9, 2025.
Heirs Insurance Group, Nigeria’s fastest-growing insurance group, has announced the winners of its inaugural Retirement Dream Competition, a nationwide initiative launched to empower retired and soon-to-retire Nigerians to realise their long-held aspirations.
The competition, introduced in August 2025 with a total prize pool of ₦5 million, invited senior citizens aged 50 to 75 to submit a one-minute video describing their retirement dream and how the grant would help make it a reality.
After a thorough review process, Mr. Kayode Kolade, a 51-year-old former public servant from Rivers State, emerged as the overall winner, receiving a ₦2.5 million cash grant, Ms. Rakiya Idris, a 64-year-old retiree from the Federal Capital Territory (FCT), came in second, winning ₦1.5 million, while Mr. Sodeke Olusola, aged 60, from Lagos State, finished as the third-place winner, receiving ₦1 million.
The inaugural edition received hundreds of entries, with high participation extending beyond major cities into rural communities across the country, reflecting the deep relevance of retirement planning to Nigerians everywhere.
Speaking on the initiative, Niyi Onifade, MD/CEO, Heirs Life Assurance, applauded the participants for their creativity, resilience, and optimism. He said: “Retirement is not an end; it is a well-earned season of rest, fulfilment, and new beginnings. The Heirs Insurance Retirement Dream Competition was created to inspire the long-held dreams of senior citizens, encouraging them to live the retirement they truly desire. We remain committed to providing simple insurance to help every Nigerian secure a future where they can thrive, enjoy peace of mind, and reap the rewards of their years of hard work.”
The Retirement Dream Competition is an initiative under the newly launched Heirs Insurance Retirees Club, a community platform designed to connect retirees across Nigeria, offering access to expert advice on financial planning, health, well-being, and post-retirement lifestyle support. Through this initiative, Heirs Life Assurance reinforces its commitment to financial inclusion, lifelong security, and improving the quality of life for Nigerians.
Heirs Insurance Group is the insurance arm of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents. With a rapidly expanding retail footprint and an omnichannel digital presence, Heirs Insurance Group, comprising Heirs General Insurance Limited, Heirs Life Assurance Limited, and Heirs Insurance Brokers, serves both corporate and individual customers across Nigeria.
Heirs Insurance Group is championing financial inclusion and leading the digital insurance play in Nigeria, demonstrating its mission to democratise access to insurance.
The Board and Executive Management of Guinea Insurance PLC paid a strategic courtesy visit to the National Insurance Commission (NAICOM), where they were received by the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission, Mr. Olusegun Ayo Omosehin, and his distinguished team in Abuja.
The Guinea Insurance delegation was led by Mr. Temitope Borishade, Chairman of the Board of Directors, accompanied by Mrs. Bernice Izilen Okosun, Non-Executive Director; Mrs. Ijeoma Pearl Okoro, Non-Executive Director; Dr. Nkemakonam Chukwukaodinaka Okeke, Non-Executive Director; Mr. Samuel Onukwue, Non-Executive Director.
The Executive Management team present included Mr. Ademola Abidogun, Managing Director and Chief Executive Officer; Mr. Pius Edobor, Executive Director, Finance and Corporate Services; Mrs. Ogonna Offor-Orabueze, Executive Director, Technical; and Mrs. Chinenye Nnankwo, Company Secretary.
Discussions during the visit explored regulatory developments, industry trends, and the company’s ongoing initiatives to strengthen operational capacity and improve customer experience across all touchpoints. The delegation also highlighted Guinea Insurance’s readiness to solidify its capital base ahead of the National Insurance Industry Restructuring and Recapitalisation (NIIRA) requirements, an important strategic action that enhances the company’s ability to seize emerging business opportunities and deliver stronger, long-term value to its stakeholders.
Speaking during the engagement, the Chairman, Board of Directors, Mr. Temitope Borishade, noted that the visit aligns with Guinea Insurance’s commitment to deepen collaboration with the regulator, enhance transparency, ensure compliance, and sustain growth. He emphasised that the company’s preparedness and capital strengthening efforts position it to serve its customers, shareholders, and partners with even greater effectiveness.
This courtesy visit underscores Guinea Insurance’s dedication to raising industry standards, strengthening stakeholder confidence, and building a more resilient and competitive organisation in the Nigerian insurance landscape.
Guinea Insurance remains committed to building a resilient, innovation-led, and trusted brand — exceeding expectations at every turn.
Capital market infrastructure, the Central Securities Clearing System Plc, has said that the expansion of recognised asset classes in the Investment and Securities Act 2025 was a major boon to the capital market.
This was disclosed by the Head of Treasury and Investments at CSCS Plc, Akinwonuola Atitebi, on Saturday during a panel discussion at the annual conference of the Capital Market Correspondents Association of Nigeria held under the theme, ‘Regulatory Reforms: ISA 2025 and Investment Climate.’
President Bola Tinubu earlier this year assented to the ISA, which recognised digital assets, including cryptocurrencies, in the country. The ISA 2025 has also made it illegal to operate digital asset exchanges or online foreign exchange trading platforms without formal registration with the Securities and Exchange Commission.
Speaking on the significance of the law, Atitebi emphasised that markets evolve over time, and ISA 2025 reflects developments seen in the last 10 to 20 years. “Today’s markets are different from those of a decade ago. This act brings everything together and, importantly for CSCS, includes additional asset classes that were previously unregulated,” he said.
Atitebi highlighted that the inclusion of cryptocurrencies and other digital assets represents “an area of immense opportunity. CSCS, in terms of what we do as a financial market infrastructure, started investing already in infrastructural power to support trading in those sorts of asset classes in the future.”
He went on to commend the SEC and other stakeholders, including the Ministry of Finance, for their efforts in putting together the robust legislation while offering the full support of the CSCS for the full implementation of the ISA 2025.
“Thank you to everybody for the work that was put in and for the achievement. But going forward, it’s one thing to have a near-perfect act, a near-perfect document, a near-perfect framework, a legal framework that addresses all our issues and all gaps. It’s another thing to execute. The SEC leadership that we have today really has the capacity. They have demonstrated it in certain things that they’ve done. But we, as partners in the market, need to support them. CSCS is committed, fully aligned with SEC’s goals, and I can say that on behalf of the board and management of CSCS, we will stand by to assist in any way required to fully implement ISA 2025,” he said.
Speaking further on the provisions of the law, Atitebi said, the law also incorporated proactive compliance measures that aim to curb market abuses.
Atitebi cited the prohibition of cash transactions in capital markets and the requirement that all securities must be dematerialised before trading on secondary markets as examples, saying, “One thing that we gave the SEC a big plus point was the proactiveness in a lot of the provisions regarding compliance. I think if implemented properly, a lot of the abuses we’ve seen in the past will not even come up. So you look at one particular thing where you ban cash transactions completely from capital markets.
“That immediately takes out the role of money laundering and issues at the end of the night. And I think now there is a rule that all securities must be dematerialised before they can be traded on the secondary market. Right? What that does is it immediately eliminates a lot of avenues for abuse and issues. You are cleaning up the capital markets. Just by having those provisions in the ISA 2025. So, again, if this act is implemented, and we also support that, a lot of what you guys see as down the line, hard-nosed enforcement possibilities will not even arise. Because it’s the proactiveness and the preventive practices that are embedded in that act.”
With the ISA 2025 now in force, Nigerian capital markets are poised to embrace digital transformation while offering investors access to a broader range of investment opportunities.
Recall that the CSCS Plc last month championed the transition of Nigeria’s capital market to the T+2 settlement cycle, bringing the market in step with global peers.
Sterling Bank Limited has signed a Memorandum of Understanding (MoU) with Enterprise Development Centre (EDC) of Pan-Atlantic University (PAU) to certify graduates of its Non-Oil Export Academy.
This strategic partnership underscores the Bank’s commitment to diversifying Nigeria’s economy by supporting non-oil export growth. This landmark agreement follows the recent launch of the Sterling Bank Non-Oil Export Academy, designed to position Nigerian exporters for global competitiveness.
The launch was preceded by a series of nationwide training programs in Lagos, Ondo, and Kano states, culminating in a grand finale themed “Excel in Non-Oil Export.”
The initiative aims to equip exporters with practical tools to thrive in international markets, thereby reducing Nigeria’s reliance on oil revenues.
Speaking at the signing ceremony in Lagos, Sterling Bank’s Managing Director and CEO, Mr. Abubakar Suleiman, affirmed that the Bank is intentional about creating an ecosystem where non-oil exporters are well-informed and equipped to advance national interests.
“We are not just training people to understand how to export; we want to train them to be competitive exporters of non-oil products,” Suleiman said.
“Our goal is to build a community of knowledgeable, certified, and confident exporters who can collaborate to solve challenges beyond their immediate capacity. Our North Star is to reach a point where hundreds of people have completed this programme and are ready to compete on a global scale.”
Dr. Nneka Okekearu, Director of the Enterprise Development Centre (EDC), expressed enthusiasm for the collaboration. “Having spent the last twenty-three years deepening the competencies of entrepreneurs, we thoroughly understand what is needed and are excited to be part of this initiative,” she
noted.
Dr. Okekearu emphasized that the export market has been neglected for too
long. “With the right structure, standards, and mindset in place, entrepreneurs
passing through this programme will help create not only a better Nigeria but
more sustainable communities,” she added, noting that she looks forward to the case studies that will emerge from the programme’s participants.
Beyond sectoral outcomes, the initiative reinforces Sterling Bank’s commitment to support the development of human capital that positively shapes and impacts the wider economy. The Academy will run four cohorts within the year, commencing in 2026.
With this partnership, Sterling Bank and the Enterprise Development Centre are
laying the foundation for a new generation of globally competitive Nigerian
exporters, professionals equipped not only with knowledge, but with the
certification, confidence, and networks needed to scale.
As both institutions align their expertise to strengthen non-oil export capacity,
this collaboration signals a bold step toward a more resilient, inclusive, and
diversified economy.
The Non-Oil Export Academy therefore serves as a catalyst for national transformation, empowering businesses and communities to unlock Nigeria’s full potential on the world stage.
About Sterling Bank
Sterling Bank Limited is a full-service national commercial bank in Nigeria and a member of Sterling Financial Holdings Group. With a heritage of more than 60 years, the bank has evolved from Nigeria’s pre-eminent investment banking institution to a trusted provider of retail, commercial, and corporate banking services.
Sterling is a forward-thinking financial institution committed to transforming lives through innovative solutions, exceptional service, unwavering integrity, and a steadfast focus on its HEART strategy, which centers on Health, Education, Agriculture, Renewable Energy, and
Transportation. As pioneers in digital banking and financial inclusion, Sterling continues to lead by example, showing how purpose-driven leadership can deliver transformative outcomes for individuals, businesses, and society at large.
Guided by a culture of innovation and a passion for excellence, Sterling Bank remains dedicated to redefining the banking experience for millions of customers across Nigeria.
L-R Sulaiman ‘Bosho’ Yahaya Kannywood actor and comedian, Gilbert Tweneboah-Koduah, Category Manager, Beverages, Nestlé Nigeria, Mansurah Isah, actress, filmmaker, humanitarian and social impact advocate and Ahmed Musa, Nigerian professional footballer,
MILO Nigeria has welcomed a new group of influencers to strengthen its long-standing connection with consumers in Northern Nigeria. The influencers include Ahmed Musa, Nigerian professional footballer and youth role model; Mansurah Isah, actress, filmmaker, humanitarian and social impact advocate; Ali Jita, songwriter and musician; Sulaiman Yahaya (popularly known as Bosho), Kannywood actor and comedian Anita Asuoha (Real Warri Pikin), who has renewed her contract as a member of the MILO family.
Speaking on the new partnerships, Gilbert Tweneboah-Koduah, Category Manager, Beverages, Nestlé Nigeria, emphasized the brand’s commitment to inclusivity. “This partnership reflects our dedication to ensuring that every Nigerian child experiences the nourishment, energy and possibilities that MILO represents. By working with creators who authentically reflect their communities and whose values align with ours, we are celebrating the bonds MILO has built with families across Nigeria in the most inclusive and meaningful way.”
Gilbert Tweneboah-Koduah, Category Manager, Beverages, Nestlé Nigeria; Sulaiman ‘Bosho’ Yahaya, Kannywood actor and comedian; Mansurah Isah, actress, filmmaker, humanitarian and social impact advocate; and Ahmed Musa, Nigerian professional footballer.
During their induction, the influencers went on an immersive factory tour to get first hand information on MILO’s key ingredients, including cocoa, milk, and sorghum, which is 100% sourced in Northern Nigeria.
They had the opportunity to see how these ingredients are transformed into the final product through cocoa roasting, milk blending, and malt preparation. Their reports confirmed that the visit highlighted MILO’s dedication to quality, nutrition, hygiene and food-safety standards.
Reflecting on the experience, Mansurah Isah said: “Seeing how MILO is made gave me a new level of respect for the brand. I was particularly impressed by the level of hygiene maintained throughout the process. The thoroughness, the quality checks at every stage were remarkable. It made me even prouder to take this journey with MILO.”
The signing ceremony took place at the Nestlé Head Office in iIlupeju, Lagos, where the influencers engaged with employees and shared their personal reflections on joining the MILO family. Ahmed Musa spoke about his excitement, highlighting MILO’s significant impact in communities across Northern Nigeria. “What stands out for me is how MILO invests in young people. From sports to school activities, you see the brand’s impact everywhere. I’m excited to use my platform to inspire even more children across the North,” he said.
For Sulaiman Yahaya (Bosho), the opportunity to partner with a brand that consistently supports youth development was a key motivator. “MILO has been part of our lives for years. To now be part of this journey is something special,” he shared.
From the MILO Basketball Championship to Building Champs and other school-driven programs, MILO continues to nourish children, support communities, and inspire a generation to grow stronger through active and healthy living.
