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Nigeria Set to Host NADPA-RAPDP Conference, Eyes Global Data Privacy Leadership

Nigeria Set to Host NADPA-RAPDP Conference, Eyes Global Data Privacy Leadership

 

By Anthony Nwosu

The Nigeria Data Protection Commission (NDPC) has announced the country’s readiness to host the upcoming Network of African Data Protection Authorities (NADPA-RAPDP) Conference and Annual General Meeting (AGM), marking another significant milestone in Nigeria’s growing leadership in data privacy and protection across the continent.

Addressing journalists during a press briefing in Abuja, the National Commissioner of NDPC, Dr. Vincent Olatunji, highlighted the importance of the forthcoming event. He noted that hosting the NADPA-RAPDP Conference is a clear endorsement of the trust and confidence Nigeria continues to earn globally through its recent data protection reforms—particularly following the enactment of the Nigeria Data Protection Act, 2023, signed by President Bola Ahmed Tinubu, GCFR.

“This conference provides a unique opportunity for Nigeria not only to champion the cause of data privacy in Africa but also to showcase the economic and cultural progress being recorded in the country,” Dr. Olatunji stated.

In a significant policy move, Dr. Olatunji also announced Nigeria’s intention to become an associate member of the Global Cross-Border Privacy Rules (CBPR) Forum. This, he said, aligns with President Tinubu’s vision to transform Nigeria into a $3 trillion digital economy. He noted that the country is actively exploring cross-border data transfer frameworks that comply with the provisions of the new Data Protection Act, with the aim of safeguarding citizens’ rights and securing Nigeria’s digital sovereignty.

The press conference also featured a goodwill message from the Acting Head of the United States Mission in Nigeria, Christine Harbaugh. She commended Nigeria’s efforts, describing the planned CBPR membership as a landmark achievement. “This move signals to the international community that Nigeria is open for business and is a safe, attractive destination for digital investments,” Harbaugh said.

With preparations in top gear for the NADPA-RAPDP Conference, Nigeria appears poised to take a leading role in shaping Africa’s data governance future while strengthening global partnerships in digital trust and security.

#ChampioningPrivacyRights #NADPA2025

 

How 17-Year-Old Mmesoma Okonkwo from Anambra Became a Global English Champion

How 17-Year-Old Mmesoma Okonkwo from Anambra Became a Global English Champion

 

The Rise of the Igbo Girl Child

By Anthony Nwosu

In a world constantly seeking inspiration and proof that excellence can rise from any corner of the globe, Nigeria has once again stepped forward with a shining example. And this time, the torchbearer is a young Igbo girl whose name is fast becoming synonymous with brilliance—Mmesoma Okonkwo, a 17-year-old from Anambra State who has been crowned the Overall Best in English Language in the Cambridge International Examination, a globally recognized academic assessment.

This moment is not just about academic achievement. It is a landmark in the ongoing journey of the Nigerian girl child, particularly from the southeastern Igbo-speaking region, where tradition meets tenacity and where the value of education—especially for the girl child—is increasingly taking centre stage.

Anambra’s Gift to the World

Hailing from a region known for its entrepreneurial spirit and educational ambition, Mmesoma Okonkwo embodies the very best of the Igbo ethos: excellence, discipline, and vision. A student of Chrisland High School, Victoria Garden City (VGC) in Lagos, Mmesoma not only conquered the Cambridge English exam, outperforming students from across the globe, but also earned a perfect scorecard in the West African Senior School Certificate Examination (WAEC), recording A1 in all nine subjects.

As Head Girl of the 2023 graduating class, she was already a respected voice among her peers. Teachers described her as focused, articulate, and driven—a model student whose grace matched her intelligence.

A Girl Child’s Victory Beyond Grades

But Mmesoma’s success goes beyond report cards and test results. It speaks volumes in a country where the girl child often contends with systemic barriers: early marriage, cultural stereotypes, inadequate access to quality education, and more. Her story becomes a counter-narrative—one that challenges the norm and uplifts hope.

This feat is especially symbolic coming from an Igbo background, a society where girls are increasingly asserting their voices in technology, education, and leadership. Mmesoma’s journey is a case study in what is possible when education meets opportunity, and when parents, educators, and society decide to invest in the potential of their daughters.

Leadership in the Making

Though she’s still at the beginning of her adult journey, Mmesoma has already made clear her aspirations: to study Business Administration at the tertiary level. With her academic track record and evident leadership qualities, many believe that this young star is headed for even greater heights—not just in Nigeria, but globally.

Mmesoma’s poise, intellect, and vision have made her a role model for thousands of girls across the country. Her success is being celebrated by educational stakeholders, advocacy groups, and women’s organizations, many of whom see in her the blueprint for a new generation of female African leaders.

Celebrating the Power of the Nigerian Girl Child

The national and international recognition she has received underscores the urgent need to refocus attention and resources on nurturing young girls, particularly in underserved regions. In Mmesoma, we see the promise of a better Nigeria—a country that unlocks its full potential by empowering its daughters.

As the congratulatory messages pour in and the spotlight beams brightly on her journey, Mmesoma remains grounded. She is a product of strong family values, dedicated teachers, and a school system that recognized and nurtured her brilliance.

But most importantly, she is a symbol of the power of possibilities—an Igbo girl who looked beyond her environment and aimed for the world…and won.

A Nation Takes Note

From government leaders to community elders, educators, and everyday citizens, Nigeria is applauding this monumental achievement. But beyond the applause, there is a deeper call to action: to replicate this success story in every community. To remove the barriers that limit girls. To invest in education, especially for those who are often sidelined.

Because when one girl like Mmesoma rises, she lifts others with her. Her victory is not hers alone—it belongs to the girl child in Chibok, in Nnewi, in Makurdi, in Agege. It belongs to every parent who dares to dream for their daughter. It belongs to Nigeria.

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“She’s proof that the girl child can be a world changer”—Educators praise Mmesoma Okonkwo as a symbol of global excellence.

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May 1, 2025 is World Password Day: Why It’s Time to Say Goodbye to Passwords

May 1, 2025 is World Password Day: Why It’s Time to Say Goodbye to Passwords

Each year on the first Thursday of May, cyber security professionals urge the public to strengthen their password hygiene. But in 2025, this tradition may be past its expiry date. Why? Because our over-reliance on passwords is becoming the very risk we seek to avoid.

According to Verizon’s Data Breach Investigations Report (2024), 81% of breaches still involve weak or stolen passwords. As threat actors evolve and AI becomes part of their toolkit, even the strongest passwords can be broken in minutes, not months. It’s time we ask — are we clinging to an outdated security method that’s holding us back?

The Problem with Passwords Today

The data is damning. According to Nordpass, the weak password of “123456” persists in being used as a password, easily cracked within 1 second by hackers. An online security survey by Google and Harris Poll in February 2019 found that at least 65% of people reuse passwords across multiple, if not all, sites, exposing them to credential-stuffing attacks at scale.

Newer threats are only accelerating this risk. Brute-force attacks have moved from CPUs to high-speed GPUs — some capable of guessing over a million password combinations per second meaning what once took years to crack can now be done in minutes using AI-enhanced tools.

The Dark Side of Passwords: A Cybercrime Economy

The underground market for stolen credentials is vast and lucrative. It’s estimated that over 24.6 billion username-password combinations are currently circulating across cybercriminal marketplaces — although the true scale is difficult to verify due to repeated resale of stolen data. In bulk, these credentials are even cheaper — as seen in the Booking.com scam, where thousands were sold for just $2,000 with new credentials offered every month, depending on breaches and leaks. The most valuable logins include banking, email, cloud, crypto, corporate VPNs and social media accounts, which are commonly reused for phishing, identity theft, malware campaigns, and business email compromise.

Behind these thefts are some of the world’s most sophisticated threat groups, including Kimsuky (North Korea), MuddyWater (Iran), and APT28/29 (Russia) — often using malware like Lumma and MaaS platforms, targeting MFA tokens and crypto wallets, spreading over Telegram bots, that make infostealing scalable and profitable. It was reported that in 2024 alone, 3.9 billion credentials were compromised via malware infections across 4.3 million devices.

Even multi-factor authentication (MFA), while crucial, is being challenged by tools like EvilProxy, which can intercept MFA tokens. This growing cybercrime economy is not just a technical threat — it’s a geopolitical and economic ecosystem as these threats now can come from anywhere at all thanks to MaaS and Phishing-as-a-Service (PhaaS) platforms. Together with infostealer-as-a-service and phishing kits for hire, these attacks are no longer limited to state actors — they’re available to anyone with a Bitcoin wallet.

The Rise of Passwordless Authentication

In contrast, passwordless security is becoming not only possible — it’s practical. Companies like Google, Microsoft, and Shopify are rolling out Passkeys — encrypted cryptographic keys tied to biometric or device-based authentication.

Microsoft wants its more than one billion users to stop using passwords to log into their Microsoft accounts while Gartner predicts that 60% of enterprises will eliminate passwords for most use cases by 2025.

In sectors like finance, healthcare, and government, hardware tokens, multi-factor logins, and biometric identification are taking over. Even in countries like Singapore and India, government-backed digital identity systems are accelerating passwordless adoption for banking, insurance, and healthcare access. This is driven by a desire to enhance security, improve user experience, and streamline digital interactions.

In Singapore for instance, Singapore’s National Digital Identity (NDI) system built on Singpass, connects over 700 government agencies and private businesses. Options like facial recognition, digital ID cards, and QR codes confirm user identities quickly and are more secure than traditional passwords. India’s Aadhaar, the world’s largest biometric system supports secure digital identity verification via OTPs and biometrics, while Australia’s Digital ID roadmap is investing in federated, passwordless frameworks

Behavioral Resistance: Why We Still Cling to Passwords

Despite security advances, people still trust what they know — and passwords feel familiar. But that familiarity comes at a price. Passwords are easily guessed, forgotten, shared, or stolen.

Check Point notes that poor password hygiene — such as reusing passwords, writing them down, or using personal data — continues to be a major weak link in corporate and personal security.

Even worse, phishing attacks — many AI-generated — continue to steal login credentials at scale, despite the presence of two-factor authentication (2FA). The rise in AI-powered phishing and deepfake attacks only makes password-based systems more vulnerable.

Risks of Staying with Passwords in a Post-AI World

The evolution of AI is making password-based authentication obsolete:

  • Deep learning models are trained on billions of leaked passwords and can predict common patterns faster than ever.

  • Voice- and video-based impersonation attacks using deepfakes can bypass even multi-factor authentication if based on weak identity layers.

  • Cloud-based GPUs are democratising the power to break passwords at scale, enabling ransomware groups and script kiddies alike to compromise systems rapidly.

In short: the longer we wait to go passwordless, the more we expose ourselves.

What Organisations Should Do Now

  • Pilot passwordless systems using biometrics, tokens, or Passkeys.

  • Use tools like Check Point Harmony to prevent password reuse and phishing.

  • Enforce Privileged Access Management (PAM) solutions and Zero Trust architectures.

  • Educate teams not just on stronger passwords — but on phasing them out altogether.

Check Point emphasises password length, diversity, and uniqueness but is also aligned with the need to explore post-password approaches.

World Password Day shouldn’t just be about creating stronger passwords. It should be a prompt to imagine a future without them. The tools exist. The threats demand it. The only thing missing is our willingness to let go.

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About Check Point Software Technologies Ltd.

Check Point Software Technologies Ltd. (www.checkpoint.com) is a leading AI-powered, cloud-delivered cyber security platform provider protecting over 100,000 organisations worldwide. Check Point leverages the power of AI everywhere to enhance cyber security efficiency and accuracy through its Infinity Platform, with industry-leading catch rates enabling proactive threat anticipation and smarter, faster response times. The comprehensive platform includes cloud-delivered technologies consisting of Check Point Harmony to secure the workspace, Check Point CloudGuard to secure the cloud, Check Point Quantum to secure the network, and Check Point Infinity Platform Services for collaborative security operations and services.

Legal Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements in this press release include, but are not limited to, statements related to our expectations regarding future growth, the expansion of Check Point’s industry leadership, the enhancement of shareholder value and the delivery of an industry-leading cyber security platform to customers worldwide. Our expectations and beliefs regarding these matters may not materialise, and actual results or events in the future are subject to risks and uncertainties that could cause actual results or events to differ materially from those projected. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 2, 2024. The forward-looking statements in this press release are based on information available to Check Point as of the date hereof, and eck Point disclaims any obligation to update any forward-looking statements, except as required by law.

Nnewi-Born Industrialist, Dr. Stella Okoli, Set To Commission ₦35 Billion Pharmaceutical Factory in Ogun State

Nnewi-Born Industrialist, Dr. Stella Okoli, Set To Commission ₦35 Billion Pharmaceutical Factory in Ogun State

 

 

By Ada Lilian Sunday

From the industrious heartland of Nnewi in Anambra State, a town renowned for producing some of Nigeria’s most formidable entrepreneurs, comes yet another monumental achievement that reinforces the legacy of enterprise that defines the region. Dr. Stella Chinyelu Okoli, founder and Group Managing Director of Emzor Pharmaceutical Industries Ltd., is set to unveil a ₦35 billion Active Pharmaceutical Ingredients (API) manufacturing facility in Sagamu, Ogun State — a project that not only highlights her entrepreneurial foresight but also signals a bold step towards Nigeria’s pharmaceutical self-reliance.

Dr. Okoli’s journey is one deeply rooted in the enterprising spirit of Nnewi, often referred to as the “Japan of Africa” for its robust manufacturing culture. As a daughter of the soil, she has not only upheld but also elevated the town’s proud tradition of innovation and industrial excellence. With over four decades of business leadership, she has transformed Emzor from a small wholesale pharmacy into a leading pharmaceutical giant with a continental footprint.

At 81, Dr. Okoli remains a force to be reckoned with in Nigeria’s industrial landscape. Her unwavering drive to solve national problems through entrepreneurship defies age and convention. While many in her generation have long taken a backseat, she continues to push boundaries with projects that reflect both vision and patriotism. The upcoming Sagamu API plant — valued at ₦35 billion — is a testament to her belief in homegrown solutions and her refusal to be limited by systemic challenges.

This world-class facility is expected to revolutionize drug manufacturing in Nigeria by producing vital raw materials locally, drastically reducing the country’s dependence on imported active ingredients. It is a strategic move that will not only strengthen national health security but also create jobs, boost industrial capacity, and inspire a new wave of indigenous pharmaceutical innovation.

More than a businesswoman, Dr. Okoli is a nation builder, a mentor, and a beacon of what is possible when vision meets grit. Her passion for wellness and affordable healthcare is matched only by her dedication to economic empowerment — qualities that have made her a role model for women and aspiring entrepreneurs across Africa.

As the nation prepares to witness the commissioning of this groundbreaking facility in Sagamu, all eyes turn once again to Nnewi — the town that birthed a legend, and to Dr. Stella Okoli — the woman proving that true entrepreneurship knows no age, and no limits.

#NemakMedia

 

Oluremi Tinubu Commissions Cutting-Edge IT Centre in Honour of Onikepo Akande, Announces Rollout of 10 Additional Centres Nationwide to Drive Tech Inclusion and Economic Growth

Oluremi Tinubu Commissions Cutting-Edge IT Centre in Honour of Onikepo Akande, Announces Rollout of 10 Additional Centres Nationwide to Drive Tech Inclusion and Economic Growth

In a historic and forward-looking event, Her Excellency, Senator Oluremi Tinubu, the First Lady of the Federal Republic of Nigeria, officially commissioned a modern Information Technology (IT) Centre named in honour of a distinguished Nigerian icon, Mrs. Onikepo Akande. The facility, situated in a strategic location within the state, is designed to serve as a springboard for digital empowerment, particularly targeting women and young people—two demographic groups that have long been underserved in Nigeria’s rapidly advancing tech ecosystem.

The well-attended ceremony brought together prominent government officials, traditional leaders, members of the diplomatic corps, tech stakeholders, youth groups, and women-led organisations who all gathered to witness the unveiling of what is expected to become a landmark centre for skills acquisition and digital transformation.

In her keynote address, the First Lady underscored the importance of digital literacy and innovation in the 21st-century economy. She noted that the establishment of the IT Centre aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu’s administration, which prioritises inclusive development, industrialisation, innovation, and job creation.

“This Centre is not just a facility with computers and desks; it is a vision brought to life. It is a symbol of hope and a bold statement that we are preparing our citizens—especially women and youth—for the future. The world is changing rapidly, and we must equip our people with the skills and tools to thrive in the digital age,” Senator Tinubu remarked.

Named after Mrs. Onikepo Akande, a renowned economist, industrialist, and former Minister of Industry, the IT Centre pays tribute to her decades of service and contributions to Nigeria’s economic and human capital development. Senator Tinubu described Mrs. Akande as a role model whose legacy will continue to inspire future generations.

“This is a fitting tribute to a woman who has broken barriers and dedicated her life to national growth. Let this centre serve as a beacon of knowledge and a reminder that with education and empowerment, anything is possible,” she said.

The First Lady also used the opportunity to unveil plans by the Federal Government to establish an additional ten (10) IT centres across various states in the coming months. These centres will replicate the model launched today and will further deepen the government’s commitment to digital innovation, gender inclusion, and skills development.

According to her, the expansion of these centres is part of a broader national strategy to diversify Nigeria’s economy beyond oil, focusing instead on technology, the creative sector, manufacturing, digital entrepreneurship, and innovation. These areas, she said, hold immense potential to create millions of sustainable jobs and stimulate inclusive economic growth.

She further stressed the importance of ensuring that Nigeria does not remain a consumer of global technologies, but instead becomes a creator of tech solutions, software, and intellectual property that can compete globally. “With initiatives like this, we are taking deliberate steps to position Nigeria not just as a player, but as a leader in Africa’s digital future,” she affirmed.

The newly launched IT Centre will offer structured training programmes in computer literacy, coding, digital marketing, artificial intelligence, data analysis, and other relevant tech skills. Special attention will be given to empowering women and girls, with mentorship and internship opportunities to connect them to the wider digital economy.

Mrs. Onikepo Akande, visibly moved by the honour, expressed deep gratitude and described the initiative as a legacy project that resonates with her lifelong advocacy for women’s economic empowerment and youth development.

“I am humbled by this honour. This centre represents everything I have worked for—giving people, especially women and young people, the opportunity to change their lives through knowledge and empowerment,” she said.

The event concluded with a tour of the facility and a symbolic demonstration session by a group of young trainees already enrolled in pilot training sessions. Guests lauded the centre as a step in the right direction towards reducing unemployment and bridging the digital divide across the country.

As Nigeria continues to navigate the complexities of the global digital economy, initiatives such as this IT Centre serve as a testament to the transformative power of vision, leadership, and commitment to national development. The First Lady’s announcement of 10 more centres across Nigeria signals a strategic move to mainstream technology into the heart of national progress, empowering citizens and creating a future where every Nigerian has the opportunity to succeed.

The Meltwater Entrepreneurial School of Technology (MEST) Africa and Mastercard Foundation Announce Selection of 12 Companies for Second Cohort of EdTech Fellowship in Ghana

The Meltwater Entrepreneurial School of Technology (MEST) Africa and Mastercard Foundation Announce Selection of 12 Companies for Second Cohort of EdTech Fellowship in Ghana

MEST Africa (www.Meltwater.org), in partnership with the Mastercard Foundation, has announced its second cohort of 12 innovative companies for the Mastercard Foundation EdTech Fellowship in Ghana. This six-month entrepreneurship acceleration program is dedicated to supporting Africa’s most promising EdTech ventures by equipping them with mentorship, funding, and expertise in the science of learning. These newly selected companies are set to scale their groundbreaking solutions and address pressing educational challenges across Ghana.

 

The Second cohort builds on the success of the first cohort of 12 EdTech Companies, whose solutions impacted over 136,798 learners during the period of acceleration, underscoring the Fellowship’s ability to drive transformative change.

 

“We are thrilled to welcome the second cohort of the Mastercard Foundation EdTech Fellowship,” said Angela Duho, Program Manager at MEST Africa. “In Ghana, EdTech is not just about innovation—it’s about creating equal opportunities for every student, no matter where they live. It empowers teachers with the tools they need to inspire, and it prepares our youth for a future where digital skills are essential. The first cohort has already shown us what’s possible, and we’re confident that these new Fellows will continue to transform education and unlock potential across the country.”

 

The 12 EdTech companies selected for the 2025 cohort demonstrated strengths in [please add here] that point to Ghana’s educational needs. Over the next six months, they will benefit from comprehensive support, including expert mentorship, access to funding, and specialized training, enabling them to scale their solutions effectively and sustainably.

 

The EdTech companies selected by MEST Africa for the 2025 Mastercard Foundation EdTech Fellowship are:

 

  1. TECHAiDE (https://TECHAiDE.Global/) is a social enterprise committed to enhancing education, youth development, and healthcare throughout Africa. Since 2011, they have collaborated with global partners to deliver practical, affordable, and lasting solutions that uplift individuals, strengthen communities, and support institutions in creating brighter futures

 

In Ghana, EdTech is not just about innovation—it’s about creating equal opportunities for every student, no matter where they live

  1. MooslaTrain (https://apo-opa.co/3S08HuA) is redefining math education in Ghana by sparking curiosity and confidence in students. This is done through community-driven math clubs and digital learning tools that make math approachable and fun, equipping young learners with the skills to thrive in STEM and beyond.

 

  1. Scribble Works Publishing House (https://ScribbleWorks.carrd.co/) is passionate about enriching education in Africa by providing educators and students with affordable, curriculum-aligned materials and interactive digital tools, fostering engaging learning experiences backed by actionable insights.

 

  1. InovTech STEM Center is an innovation hub devoted to bringing STEM education to underserved communities. Through hands-on robotics and coding programs—like STEM4Her, Powered Girl, and Powered Boy—they inspire students and teachers to develop skills that open doors to new opportunities.

 

  1. STEMAIDE (www.STEMAIDE.com) is focused on reshaping education in Africa by nurturing problem-solving, creativity, and entrepreneurial spirit in young people. STEMAIDE strives to prepare the next generation with the tools and mindset to succeed in an ever-changing world.

 

  1. Nikasemo Technologies (www.Nikasemo.com) is dedicated to enhancing the classroom experience in basic schools with their software and hardware solutions that streamline school operations and create dynamic, engaging learning environments that help students reach their full potential.

 

  1. Jesi AI (https://AI.UseJesi.com/) is a generative AI assistant supporting teachers in Ghana’s junior and senior high schools. By simplifying the creation of high-quality, curriculum-aligned lesson plans and materials, Jesi AI saves educators time while also acting as a virtual tutor to guide students and track their growth.

 

  1. Metaschool AI (https://MetaschoolApp.com/) is an educational app designed with BECE and WASSCE students in Ghana in mind. Offering interactive video lessons from top instructors, Metaschool provides a flexible, student-paced learning platform that makes academic success more achievable.

 

  1. Maxim Nyansa Foundation (https://MaximNyansa.com/) empowers high school students and teachers across Africa with vital IT infrastructure and educational software. By tapping into open-source solutions, Maxim Nyansa improves access to quality education and works to close the digital gap.

 

  1. The Ghana Olympiad Academy (https://GhanaOlympiadAcademy.com/), through its Academic Talent Development Programme, brings hands-on STEM learning to learners in Ghana. They nurture talent in literacy, numeracy, and STEM, preparing young minds for leadership and innovation on a global stage.

 

  1. Asah Maker-Space is passionate about automation, robotics, 3D printing, coding, and construction. Asah Makerspace’s team of skilled educators and tech enthusiasts empowers the next generation of creators through immersive, practical learning experiences.

 

  1. Craft Education Technologies (www.CraftEducation.io) bridges the gap between therapists, parents, and teachers to create a seamless support system for children with behavior and learning challenges, including autism. This collaborative model ensures that every child receives the individualized attention they need to succeed.

 

“The Mastercard Foundation looks to support the acceleration of EdTech solutions that reach all, including those out-of-school young people who are constantly left out of the education ecosystem. For it is when we design with the end user in mind that the business case for the solutions is more scalable, sustainable and impactful. Our collaboration with MEST Africa is to transform education in Ghana through technology-enabled learning”, added Rodwell Mangisi, the Acting Director of the Mastercard Foundation Centre for Innovative Teaching and Learning.

Through the Mastercard Foundation EdTech Fellowship, this cohort will embark on a transformative journey, gaining mentorship from experts in education innovation, sustainability, and scale, access to courses on the science of learning, and equity-free grants. This robust support aims to scale their solutions and elevate educational outcomes for millions across Ghana and Africa.

 

For more information about the Mastercard Foundation EdTech Fellowship and MEST Africa initiatives, visit www.Meltwater.org.

ProvidusBank Launches N50 Billion Commercial Paper Program for Investor Subscription: A Crucial Move for Nigeria’s Economy

ProvidusBank Launches N50 Billion Commercial Paper Program for Investor Subscription: A Crucial Move for Nigeria’s Economy

ProvidusBank, one of Nigeria’s leading financial institutions, has announced the launch of a N50 billion commercial paper program, offering investors the opportunity to subscribe to short-term debt securities issued by the bank. The program, which will be available for investor subscriptions, is aimed at raising funds to support the bank’s growth and operations while contributing to the broader stability and growth of Nigeria’s economy.

Key Features of the Commercial Paper Program

The N50 billion commercial paper program is designed to raise funds for general corporate purposes, including working capital needs and the funding of key projects. The program will provide investors with a secure investment avenue while ensuring that ProvidusBank maintains the financial strength necessary to drive its operations and support Nigeria’s economic development.

The commercial paper is being offered with attractive interest rates and is aimed at a wide range of investors, including institutional and retail investors. It is expected to strengthen the bank’s liquidity position and allow it to continue expanding its services in a competitive market. The initiative also aligns with ProvidusBank’s commitment to delivering value to its stakeholders and sustaining its position as a leader in Nigeria’s financial sector.

Impact on Nigeria’s Economic Growth

This move is significant for both ProvidusBank and the Nigerian economy at large. By launching this commercial paper program, the bank is helping to diversify the country’s financial markets, offering investors a new and attractive way to participate in the growth of one of Nigeria’s prominent banks. The program also signals ProvidusBank’s strong financial health and willingness to expand its reach, both within Nigeria and in the broader African market.

Additionally, the success of the commercial paper program will enhance Nigeria’s capital markets, providing a boost to investor confidence. The funds raised will be directed into productive investments that can drive further growth in key sectors of the economy, from agriculture to technology and infrastructure.

Supporting Financial Inclusion and Stability

In a time when economic stability is critical, especially in emerging markets like Nigeria, the ability of banks like ProvidusBank to raise capital through such innovative instruments plays a pivotal role. The successful implementation of the commercial paper program will provide a strong foundation for the bank to continue offering its financial products and services, thereby supporting financial inclusion, improving access to capital for businesses, and contributing to overall economic stability.

Nigerian Economic Outlook and the Role of Commercial Papers

Commercial papers are becoming an increasingly important tool in Nigeria’s financial landscape, offering a more efficient way for corporations and banks to raise short-term funds. By tapping into the growing investor interest in such instruments, ProvidusBank is aligning itself with global best practices and helping to deepen Nigeria’s capital markets.

The N50 billion program is also expected to offer competitive returns for investors, enhancing Nigeria’s attractiveness as an investment destination amidst a diverse and dynamic economy. This initiative positions ProvidusBank as a forward-thinking institution, one that understands the financial needs of both investors and the broader economy.

ProvidusBank’s N50 billion commercial paper program marks a pivotal moment for the institution and the Nigerian economy. By providing a channel for investment and securing critical funding for its operations, the bank is contributing to the growth of Nigeria’s financial ecosystem and supporting economic development. The move also underscores the bank’s leadership and commitment to promoting stability, financial inclusion, and innovation in Nigeria’s capital markets.

As the program progresses, it is expected to provide valuable opportunities for investors while cementing ProvidusBank’s role as a key player in Nigeria’s evolving financial sector.

NNPC Ltd. and NLNG Deepen Strategic Collaboration to Advance Nigeria’s Energy Sector

NNPC Ltd. and NLNG Deepen Strategic Collaboration to Advance Nigeria’s Energy Sector

In a renewed effort to strengthen industry collaboration and accelerate Nigeria’s energy transition agenda, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Mr. Bashir Bayo Ojulari, today received a delegation from Nigeria LNG Limited (NLNG) on a high-level courtesy visit at the NNPC Towers in Abuja.

The visit marks a significant step in ongoing efforts to align the objectives of both institutions in advancing sustainable energy solutions, deepening gas infrastructure, and enhancing Nigeria’s energy security.

Welcoming the NLNG team, Mr. Ojulari described the company as a “strategic business entity vital to Nigeria’s economic resilience and energy future.” He reiterated NNPC Ltd.’s vision of ensuring equitable energy access for all Nigerians while fostering a cleaner, more diversified energy ecosystem.

“The Nigeria LNG is not just a business partner; it is a national asset. We are committed to working closely with NLNG to unlock new opportunities in gas supply, decarbonization, and human capital development,” Ojulari stated.

The GCEO emphasized the importance of synergy between both organisations in ensuring the successful implementation of Nigeria’s Decade of Gas initiative — a federal strategy aimed at transforming Nigeria into a gas-powered economy by expanding domestic gas utilization and exports.

On his part, the Managing Director and Chief Executive Officer of NLNG, Dr. Philip Mshelbila, congratulated Mr. Ojulari on his recent appointment as GCEO of NNPC Ltd. and commended the leadership team for its renewed drive to reposition Nigeria’s energy industry.

Dr. Mshelbila expressed confidence in the capacity of the NNPC leadership to lead meaningful reforms in the sector. He noted that the strong alignment of purpose between both entities sets the stage for a more impactful collaboration that will benefit not only the energy market but also millions of Nigerians.

“We believe this partnership is critical for addressing Nigeria’s energy needs, enhancing the role of gas in our transition journey, and positioning the country as a global energy player,” Dr. Mshelbila noted.

During the meeting, both parties expressed a shared commitment to exploring joint strategies on key areas such as:

  • Reliable and sustainable gas supply for domestic and industrial use;

  • Decarbonization and climate-conscious energy production;

  • Talent development and exchange programs to strengthen technical capacity in the sector.

The courtesy visit also provided a platform to reaffirm mutual support for ongoing national policies and reforms targeted at boosting investor confidence and positioning Nigeria as a competitive energy destination on the continent.

Accompanying Dr. Mshelbila on the visit were key members of the NLNG leadership team including:

  • Mr. Olakunle Osobu (Deputy Managing Director)

  • Dr. Sophia Horsfall (General Manager, External Relations & Sustainable Development)

  • Mr. Akachukwu Nwokedi (General Counsel/Company Secretary)

  • Mr. Godson Dienye (Manager, Government Relations & Regulatory Compliance)

  • Mr. Sulaimon Adebayo (Technical Assistant to the MD)

  • Ms. Nengi Amadi (Senior Government Relations Advisor)

  • Mr. Rufai Lawal (Senior Government Relations Advisor)

The meeting ended on a positive note with both teams agreeing to sustain high-level engagements and collaborate on industry-transforming initiatives that will deliver long-term value for Nigeria’s economy and people.

Shettima Confirms Pilgrims Will Access Cash for 2025 Hajj Following CBN Approval

Shettima Confirms Pilgrims Will Access Cash for 2025 Hajj Following CBN Approval

 

Vice President of Nigeria, Kashim Shettima, has announced that Nigerian pilgrims undertaking the 2025 Hajj will be granted access to cash for their transactions, following approval by the Central Bank of Nigeria (CBN).

Speaking after a meeting held yesterday in his office with officials from the CBN and the National Hajj Commission, Shettima said the decision was made to ensure the smooth planning and successful execution of the upcoming pilgrimage to Mecca.

Earlier this year, the CBN had introduced a revised payment system requiring all pilgrims to open Basic Travel Allowance (BTA)-linked bank accounts and use ATM debit cards for transactions during their stay in Saudi Arabia. The new arrangement raised widespread concerns among stakeholders, who feared it could disrupt operational logistics and overall pilgrimage performance.

“Following our intervention, pilgrims will now receive their allowances in cash — ensuring convenience and continuity in the Hajj process,” the Vice President stated.

The move is expected to ease the financial processes for intending pilgrims and prevent any challenges that may have arisen from the mandatory use of debit cards.

FG, WORLD BANK UNITE TO DIGITALLY EMPOWER YOUNG NIGERIANS AND DRIVE JOB CREATION

FG, WORLD BANK UNITE TO DIGITALLY EMPOWER YOUNG NIGERIANS AND DRIVE JOB CREATION

On the sidelines of the World Bank/IMF Spring Meetings and following the institution’s Development Committee session, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, reaffirmed Nigeria’s collaboration with the World Bank to advance a shared agenda focused squarely on creating high-quality jobs for young Nigerians.

“Employment generation must be a central pillar of development,” Mr. Edun told journalists, highlighting that Finance Ministers—who serve as the Bank’s Governors—have collectively made this their top priority. “This aligns seamlessly with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which places job creation at the core of our economic revitalization efforts.”

Mr. Edun underscored the pivotal role of multilateral financial institutions in shaping these global development priorities. “We are scaling up efforts with the World Bank to create sustainable jobs and stimulate inclusive growth,” he said, adding that the Tinubu administration is determined to unlock private capital, attract local and foreign investment, and accelerate job creation across all sectors.

A cornerstone of this strategy is the rollout of digital infrastructure to support Nigeria’s burgeoning youth population. By expanding access to high-speed internet, data services, and fibre-optic networks, the Minister explained, young Nigerians will be empowered to offer services online, retain talent domestically, and drive the nation’s digital economy.

“Job creation is the most effective route to reducing poverty and inequality,” Mr. Edun emphasized. “Good-quality jobs are essential to stabilizing the economy, encouraging private investment, and ensuring our youth find opportunities here at home—rather than abroad.”

This partnership between the Federal Government and the World Bank signals a unified commitment to

  • Tackling unemployment through targeted financing and policy support

  • Fostering inclusive prosperity by creating pathways into the formal economy

  • Building a digital-ready workforce equipped to compete in the modern global marketplace

As Nigeria and the World Bank move forward together, this collaboration promises to lay the groundwork for a generation of young Nigerians who are digitally empowered, economically engaged, and ready to lead the country’s next wave of growth.