Author: Gift Ifeanyi

After three years of suspended international transactions, Nigerian banks have reactivated naira-denominated debit cards for global use — a pivotal moment for the country’s digital economy. The move, announced in July 2025 by banks including GTBank and UBA, goes beyond policy reversal. It reshapes the future of payments, gambling, digital acquisition, and advertising technology in Africa’s largest economy. From Suspension to Reactivation In 2022, Nigeria’s worsening foreign exchange crisis forced banks to slash international spending limits on naira cards — from $100 a month to just $20 — before halting global transactions altogether. The ban reshaped consumer behaviour and crippled…

Nigeria has recorded one of its most decisive victories in the fight against terrorism following the capture of the top leaders of the notorious Ansaru group, including its commander Mahmuda. Presidential aide on information and strategy, Bayo Onanuga, announced the breakthrough on X, citing a Saturday evening security briefing delivered by National Security Adviser Nuhu Ribadu. According to Ribadu, the arrests were made in a series of intelligence-driven counterterrorism operations carried out between May and July 2025. The missions targeted and successfully apprehended Mahmud Muhammad Usman (popularly known as Abu Bara’a/Abbas/Mukhtar), Ansaru’s self-proclaimed “Emir,” alongside his deputy, Mahmud al-Nigeria (Mallam…

Forbes reports that Abdulsamad Rabiu’s fortune has soared by $2.2 billion in just the first seven months of 2025, driven by the impressive performance of BUA Cement Plc and BUA Foods Plc. His net worth rose from $5.1 billion in January to $7.3 billion as of August 9, 2025—a reflection of both his business acumen and Nigeria’s growing industrial potential. Just over two weeks ago, the Chairman of BUA Group marked his 65th birthday, a milestone that celebrates not only personal longevity but also decades of transformative impact on industry, philanthropy, and society. A Life of Enterprise and Impact Born…

In the face of rising food prices and a fast-growing population, Nigerian entrepreneur Naomi Nwaokocha is leading a quiet revolution in agriculture—transforming farming into a model of efficiency, sustainability, and profitability. As Director of Corporate Operations at Supreme Meat Ventures Ltd and CEO of Poder Farms Ltd, Naomi oversees enterprises that integrate innovation across pig farming and palm oil production. Her approach reduces costs, cuts waste, enhances quality, and drives higher productivity. These efforts have not only generated billions in sales but also attracted funding to expand her operations. “Agriculture is not just planting and harvesting—it’s about systems, technology, and…

With over two decades of entrepreneurial leadership, Tonya Osato Lawani stands as one of Nigeria’s most dynamic business figures. As Group Chief Executive of SEAL Group, her influence cuts across manufacturing, advertising, hospitality, retail, and print media. A graduate of Lagos Business School and the Metropolitan School of Business & Management (UK), with executive training from Harvard University, Tonya embodies the blend of global perspective and local expertise needed to shape both business and sports in Africa’s largest economy. She is a member of the Institute of Directors, a Non-Executive Director at Tatum Bank, an author of the bestselling iSucceed…

Nigerian Breweries Plc has staged a remarkable comeback, reporting a profit after tax of ₦45 billion in the first quarter of 2025, reversing the heavy losses recorded in the previous year. The brewer’s unaudited results for the period ended March 31, 2025, filed with the Nigerian Exchange Limited, showed revenue surged by 69% year-on-year to ₦383 billion, up from ₦227 billion in Q1 2024. Despite rising production costs and inflationary pressures, operating profit climbed 238% to ₦85 billion, compared to ₦25 billion in the same period last year. Management attributed the strong performance to strict cost control, productivity gains, and…

Lagos, Nigeria — In a Lagos bank branch, a shoe importer asks to buy dollars for a shipment from Guangzhou. The teller’s smile says it all — the bank’s foreign exchange allocation for the week is gone. Forty-eight hours later, the same importer pays the Chinese supplier in USDT, a dollar-pegged stablecoin, and the goods are already on the way. This scene is no longer unusual. Across Africa’s trade corridors, a quiet currency revolution is under way. From Lagos to Nairobi, small and medium-sized businesses are skipping the official banking queue and using everything from local sourcing to blockchain payments…

Lagos & Abuja, Nigeria — For the first time outside the UAE, GITEX — one of the world’s largest technology and innovation gatherings — will stage a national edition in Nigeria, underscoring the country’s ambition to cement its place as Africa’s digital powerhouse. From September 1 to 4, 2025, Lagos and Abuja will host GITEX NIGERIA, a flagship event designed to spotlight 300 high-potential Nigerian startups before an audience of more than 1,000 tech ventures, 300 global investors, and up to 20,000 participants from across the globe. The initiative is spearheaded by the Federal Ministry of Youth Development in partnership…

Calabar, Nigeria — President Bola Ahmed Tinubu has reaffirmed his administration’s determination to grow Nigeria’s Micro, Small, and Medium Enterprises (MSMEs), declaring that the country’s vast human and natural resources leave “no reason for Nigerians to be poor.” Speaking through Vice President Kashim Shettima at the 8th Expanded National MSME Clinic in Calabar on Wednesday, Tinubu highlighted Cross River’s unique economic potential. “Cross River has fertile land capable of producing almost every crop. Our plan to plant 100 million oil palm trees gives this state a clear advantage,” he said. The president noted that his government’s Renewed Hope Agenda goes…

The MTN Foundation has opened applications for the sixth phase of its flagship ICT and Business Skills Training programme — a transformative initiative designed to empower Nigerian youths with the tools to thrive in today’s tech-driven business world. Targeted at young entrepreneurs aged 18 to 35, the programme offers a five-week virtual training packed with expert-led masterclasses from leading global industry players, including Microsoft and Meta. This year’s edition focuses on small business owners who have been operating for less than two years in Ebonyi, Edo, Ekiti, Kebbi, Niger, or Yobe states. A Track Record of ImpactSince its inception in…

Lagos, Nigeria – Seplat Energy has successfully wrapped up the Lagos edition of its second Annual Media Training Programme, a bold initiative designed to equip journalists with the tools, skills, and entrepreneurial mindset to thrive in an evolving digital landscape. Building on the momentum of last year’s debut, the two-day intensive brought together 50 carefully selected journalists from across Nigeria, particularly those covering judiciary, energy, and business beats. Participants engaged in a rich mix of practical workshops, expert mentorship, and forward-looking discussions on media transformation and sustainability. Mrs. Chioma Yvonne Afe, Seplat Energy’s Director of External Affairs and Social Performance,…

Uganda’s shadowy gold trade has once again come under scrutiny after authorities dismantled a $70,000 scam targeting a Nigerian investor. The sting, carried out by the State House Anti-Corruption Unit (SH-ACU) and the Criminal Investigations Directorate, shines a spotlight on how fraudsters continue to exploit the region’s lucrative but poorly regulated precious metals market. The victim, Nigerian businessman Mark Gbillah, was lured by promises of seven kilograms of gold from two purported suppliers — Legacy Refinery Limited and Emerod Agency Limited. Investigators say both companies were fictitious fronts run by a network of four Congolese and three Ugandan nationals. On…

Kaduna, Nigeria – For Halima Ibrahim, a petty trader in Sokoto, the daily struggle to keep her shop running was a battle against high energy costs and dwindling profits. In Kachia, Kaduna State, farmer Musa Ali’s failing eyesight made even simple tasks a challenge. This month, their stories — and those of thousands like them — took a turn for the better. Free medical services, prescription glasses, and ₦50,000 business grants have reached communities long overlooked in the fight against poverty. In some cases, beneficiaries also received solar kits, cutting their reliance on costly fuel and improving business efficiency. These…

In a bold step to accelerate women-led enterprise growth in Nigeria, First City Monument Bank (FCMB) has joined forces with the International Finance Corporation (IFC) to deliver the globally acclaimed Goldman Sachs 10,000 Women program. The initiative, developed by Goldman Sachs and hosted online by the University of Leeds, offers small and medium-sized businesses unrestricted access to 10 comprehensive courses covering essential business skills. Participants also gain entry into a thriving global alumni network of female entrepreneurs. Since its inception, the program has reached over 200,000 entrepreneurs worldwide, blending practical education with interactive learning and expert-led sessions from top business…

Lagos, Nigeria — At the first-ever Digital Professional Fair 2025, the message to Nigeria’s youth was unambiguous: in the 21st century, mastery of digital tools is not just an advantage — it’s the currency of relevance in the global marketplace. Held at the Landmark Event Centre, Victoria Island, the two-day fair brought together industry leaders, innovators, and legal experts to bridge what organisers called “Nigeria’s digital readiness gap.” From branding and entrepreneurship to legal literacy and artificial intelligence, the conversations circled back to one core truth — young Nigerians must be ready to compete beyond the nation’s borders. Building Slow,…

Two decades after failed privatisation turned Nigeria’s once-thriving steel plants into rusting monuments, the Federal Government is launching its most ambitious revival plan yet — one it says could end the country’s $4.5bn annual steel import bill, create half a million jobs, and restore a key pillar of economic sovereignty. President Bola Tinubu, speaking through Vice President Kashim Shettima at the first-ever National Steel Stakeholders’ Summit in Abuja, described the steel sector as “the very foundation of industrial growth, job creation, and sustainable development” — and warned that Nigeria’s dependence on imported steel is both an economic liability and a…

In a decisive bid to revive Nigeria’s troubled electricity sector, the federal government has approved a phased strategy to refinance ₦4 trillion ($2.61 billion) in outstanding power industry debt — a move officials say will unlock long-delayed investments and ease the country’s persistent blackouts. The liabilities, owed to 27 power generation companies for unpaid invoices dating back to 2015, have long hampered the sector’s growth, discouraging new capital inflows and worsening supply gaps in Africa’s most populous nation. Following a recent verification of claims, President Bola Tinubu has given the green light for the debt settlement plan, which will be…

Once hailed as Nigeria’s boldest leap into world-class tourism and investment, the Tinapa Business and Leisure Resort in Adiabo, on the outskirts of Calabar, now stands as a faded monument to unrealised ambition. Launched in 2007 after a $350 million build under then-Governor Donald Duke, Tinapa’s promise seemed unstoppable. Spread across 265 hectares, with a shopping mall, film studio, casino, water park, hotel, and artificial tidal lake, it was meant to be Africa’s Dubai on the Cross River. The Federal Government even granted it Free Trade Zone status in 2006, sparking investor excitement. But the dream quickly hit legal, political,…

The Economic and Financial Crimes Commission (EFCC) has issued a strong warning to real estate developers across Nigeria, urging them to vet the financial sources of potential investors or face losing properties tied to illicit funds. Speaking in Abuja on August 6, 2025, at the Policy Dialogue on Critical Issues Affecting Nigeria’s Real Estate Ecosystem — a forum convened by Law Corridor — EFCC Chairman Ola Olukoyede said money laundering remains “rampant” in the property sector. He called for developers to adopt strict Know Your Customer (KYC) procedures even when not legally mandated. “If stolen money is used to buy…

Johannesburg, South Africa — It was a night of celebration, inspiration, and youthful brilliance as two Nigerian innovators, Bunmi Esther Olalude and Christianah Madu, took the spotlight at the prestigious Anzisha Prize Awards Gala on August 6, 2025. The duo joined two other young entrepreneurs from across Africa in receiving $10,000 each to scale their groundbreaking ventures, recognized for transforming lives within their communities. Olalude, who earned the Job Creation Award, was celebrated for generating significant employment opportunities, particularly for women and young people. Addressing the audience, she expressed her unwavering determination: “If I keep doing what I’m doing, I…