Author: Gift Ifeanyi

The Central Bank of Nigeria (CBN) has taken its message directly to the grassroots, using a public fair in Abeokuta to highlight how its latest policies and innovations are shaping livelihoods, boosting productivity, and driving inclusive growth. At the event, themed “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth, and Accelerated Economic Development,” the CBN stressed that its policies are not just about monetary stability but also about creating everyday value for Nigerians. Building Confidence in the Financial System Mrs. Hakama Sidi-Ali, Acting Director of Corporate Communications, explained that the Bank’s leadership under Governor Olayemi Cardoso has pursued…

Small and medium-sized enterprises (SMEs) are the backbone of Nigeria’s economy. They provide jobs, sustain local commerce, and drive innovation. Yet, while entrepreneurs focus on sales, funding, and expansion, there’s a less visible factor that increasingly determines whether a business survives or collapses: cybersecurity. For many SME owners, cybercrime feels like a distant threat reserved for big corporations. The reality, however, is the opposite. Hackers often prefer targeting small businesses because their defenses are weaker and their losses are harder to recover from. A single breach—whether through a phishing email, compromised Wi-Fi, or leaked customer data—can erase years of progress…

The Executive Director of the Lagos International Trade Fair Complex, Barrister Vera Ndanusa, has applauded World Trade Organisation (WTO) Director-General, Dr. Ngozi Okonjo-Iweala, for expressing confidence in President Bola Tinubu’s economic reforms. Ndanusa noted that the reforms have translated into tangible progress at the Trade Fair Complex, where business activities have expanded, revenues have grown, and a more stable environment for traders has been created. Under her stewardship, the complex has undergone structural improvements, including a cleaner and friendlier business setting, uninterrupted energy supply to sustain SMEs, and initiatives to support large-scale enterprises. She also revived the long-abandoned annual trade…

The President of the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN), Chimezie Victor Ihekweazu (SAN), has called on business owners to seek professional recovery support at the first signs of financial distress rather than waiting until collapse is inevitable. Speaking at BRIPAN’s members’ night in Lagos, Ihekweazu emphasized that the association — made up of insolvency-trained accountants, lawyers, bankers, and tax experts — is fully equipped to help struggling businesses regain stability. He explained that insolvency does not happen overnight but usually develops over one or two years, during which early red flags become visible. According to him,…

The Nigerian Communications Commission (NCC) has pledged stronger action to safeguard the nation’s digital infrastructure, describing resilience and security as a “non-negotiable national imperative” for Nigeria’s economic future. This assurance was delivered at the 2nd Strategic Stakeholders Meeting of the Association of Telecommunications Companies of Nigeria (ATCON), held in Lagos on Friday. Speaking through Mrs. Chioma Ibe, NCC’s Executive Vice Chairman, Dr. Aminu Maida, stressed that telecommunications is now the backbone of Nigeria’s economy, supporting 171 million mobile subscribers and contributing 14.4% to GDP as of Q4 2024. From finance and healthcare to education and security, he said, the telecom…

The Healthcare Federation of Nigeria (HFN) has entered into a landmark partnership with the Health Business Academy for Africa (HBA) to boost the performance of Nigeria’s healthcare sector through strategic collaboration and capacity development. The agreement was formally signed on August 14, 2025, at HFN’s Executive Office in Ikoyi, Lagos. HFN President, Njide Ndili, described the partnership as a bold step toward equipping healthcare leaders with the tools to thrive in a rapidly changing environment. “At HFN, our priority is to elevate the quality of healthcare delivery across Nigeria. This collaboration will expose our members to global best practices in…

Africa Tourism Partners (ATP) has announced that registration is now open for the Africa Business Tourism & MICE Masterclass 2025, set for August 27–28, 2025, at BDO Offices, Illovo, Johannesburg, South Africa. The Meetings, Incentives, Conferences, and Exhibitions (MICE) sector is widely regarded as a major catalyst for economic growth across Africa. This year’s masterclass will focus on equipping tourism stakeholders with innovative strategies and practical skills to strengthen business competitiveness and unlock new opportunities. A distinguished panel of international experts will lead the sessions, including: Elcia Grandcourt, Director, Africa, UN Tourism (Spain) Senthil Gopinath, CEO, International Congress and Convention…

The Economic and Financial Crimes Commission (EFCC) has announced the recovery of ₦5 billion and $10 million from contractors and government officials implicated in fraudulent activities linked to the turnaround maintenance of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri. Investigations, personally overseen by EFCC Chairman Ola Olukoyede, revealed large-scale corruption, including over-invoicing, inflated contracts, and questionable payments, which contributed to the persistent failure of the refineries despite decades of heavy public funding. Nigeria’s four state-owned refineries have remained largely inactive, forcing the country to rely on petroleum imports despite repeated rehabilitation efforts. Records show that $1.55 billion was allocated…

Business leaders at the 2025 Production and Manufacturing Business Summit have challenged Nigerian entrepreneurs to replace negative narratives with action, stressing that execution and innovation — not constant lamentation — remain the true drivers of growth. The summit, held in Lagos under the theme “Moving from Consumption to Production,” brought together top industry voices who emphasized that dwelling on challenges weakens investor confidence and hinders progress. Delivering the keynote address, Tara Fela-Durutoye, founder of House of Tara International, acknowledged the realities of operating in Nigeria but warned against allowing obstacles to dominate every business conversation. “Doing business here is tough,…

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,…