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Telecom Sector News: Call Rates Set to Increase to N18/Minute Under New Tariff Plan

Telecom Sector News: Call Rates Set to Increase to N18/Minute Under New Tariff Plan

In a significant development for Nigeria’s telecommunications industry, the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, has announced that telecom service tariffs are set to increase by 30 to 60 percent. This adjustment, far below the 100 percent hike initially demanded by mobile network operators (MNOs), aims to balance industry sustainability with consumer affordability.

During an interview on Channels TV, Dr. Tijani revealed that the new rates would see call charges rise from the current average of N11 per minute to approximately N18.33 per minute, if a 60 percent adjustment is adopted. SMS charges will increase from N4 to N6.67, while the cost of 1GB of data could climb from N1,000 to N1,667.

“The sector drives growth in our country. Allowing a 100 percent tariff increase would be harmful to citizens who heavily depend on telecom services,” Dr. Tijani stated, underscoring the government’s focus on protecting consumers while ensuring the industry remains viable.

Challenges Driving the Increase

This announcement comes amid ongoing struggles in the telecom sector, where operators have been grappling with escalating operational costs, reportedly rising by 300 percent over the last decade. The devaluation of the naira in 2023 further compounded these challenges, with many telcos reporting significant financial losses.

Telecom operators, including MTN Nigeria, have long advocated for tariff adjustments to reflect the realities of operating in a volatile economic environment. MTN Nigeria’s CEO, Karl Toriola, reiterated that while MNOs initially requested a 100 percent hike, the Nigerian Communications Commission (NCC) is unlikely to approve such an increase due to the nation’s economic sensitivities.

“We remain hopeful that the right decision will be made to ensure the sustainability of the industry,” Toriola said.

The Role of NCC and the Need for a Tariff Review

As the regulatory body, the Nigerian Communications Commission (NCC) plays a critical role in ensuring that tariff adjustments align with both industry needs and broader economic realities. For years, the NCC has monitored and regulated telecom pricing to balance consumer protection with the financial viability of the sector. However, with the drastic increase in operational costs faced by telecom companies, the need for a tariff review has become more urgent.

The increase in costs, driven by factors such as inflation, the naira’s devaluation, and rising infrastructure expenses, necessitates an upward adjustment in pricing. This move is seen as essential for ensuring the survival of telecom operators while continuing to meet the demand for quality and affordable services.

“The industry must be able to reflect the economic reality. Without an appropriate tariff structure, operators will struggle to sustain investments in technology and infrastructure, which are crucial for the development of a robust digital economy,” explained an industry expert.

Balancing Sustainability and Affordability

The new tariff plan reflects a decade of negotiations between telecom operators and regulatory authorities, including the NCC. While the increment aims to alleviate the financial strain on MNOs, it also considers the socio-economic challenges facing millions of Nigerians who depend on affordable telecom services for daily activities.

Industry stakeholders are optimistic that the moderate hike will help stabilize the sector, foster investment, and maintain the growth trajectory of Nigeria’s digital economy. However, the burden on consumers, particularly in a challenging economic climate, remains a key concern.

The NCC’s proactive stance in monitoring the situation will be crucial as it seeks to strike a balance between supporting the telecom industry’s sustainability and shielding consumers from steep price increases. The commission is expected to provide further updates on the implementation timeline and regulatory framework guiding the tariff adjustment.

ZITDA Celebrates One Year of Progress Under Dr. Habib Gajam’s Leadership

ZITDA Celebrates One Year of Progress Under Dr. Habib Gajam’s Leadership

 

ZITDA marks a significant milestone for the Zamfara Information and Communications Technology Development Agency (ZITDA) as it celebrates the first anniversary of Dr. Habib Gajam’s leadership as Executive Secretary. In just one year, the agency has achieved remarkable progress, laying the groundwork for a digitally driven future in Zamfara State.

Dr. Gajam’s tenure has been defined by unwavering dedication to innovation, inclusion, and growth. From the moment he assumed office, he made it clear that his vision was to transform Zamfara into a digital powerhouse where technology drives economic development and creates opportunities for all.

Empowering the Youth, Building the Future
A core focus of ZITDA’s initiatives under Dr. Gajam’s leadership has been youth empowerment. Recognizing the untapped potential of the younger generation, the agency launched several digital literacy programs aimed at equipping young people with the skills needed to thrive in a tech-driven world. These programs have not only enhanced employability but have also inspired a new wave of tech entrepreneurs in the state.

“We believe our youth are the heartbeat of Zamfara’s future,” Dr. Gajam remarked. “By giving them the tools and knowledge to excel in the digital economy, we are investing in the long-term prosperity of our state.”

Forging Strategic Partnerships
Over the past year, ZITDA has worked tirelessly to foster collaborations with key stakeholders in the ICT ecosystem. These partnerships have brought valuable resources, expertise, and opportunities to Zamfara, enabling the agency to deliver impactful projects. From collaborating with tech giants to engaging local innovators, ZITDA has demonstrated the power of collaboration in driving sustainable growth.

Laying a Foundation for Digital Governance
Another major achievement has been the development of frameworks to enhance digital governance in Zamfara. These efforts aim to improve service delivery, ensure transparency, and make governance more accessible to citizens. Dr. Gajam emphasized that a digitally empowered government is essential for building trust and fostering development.

A Heartfelt Message of Gratitude and Hope
As ZITDA celebrates this anniversary, Dr. Gajam took the opportunity to express his heartfelt gratitude to the state government, ZITDA staff, and the agency’s partners for their support and dedication.

“This journey has been a collective effort,” he said. “Every milestone we’ve achieved reflects the hard work and passion of our team, the commitment of our partners, and the trust placed in us by the people of Zamfara. Together, we are proving that technology can be a powerful force for good.”

Looking ahead, Dr. Gajam remains steadfast in his commitment to building a digitally inclusive Zamfara. “We are just getting started,” he stated. “The possibilities are endless, and we are inspired to keep pushing boundaries and creating a brighter future for everyone.”

As the anniversary celebrations continue, ZITDA stands as a testament to what visionary leadership and collective effort can achieve in a short time. With a clear path forward, the agency is set to become a driving force in Zamfara’s transformation into a technology hub.

#WeMeanBusiness

President Bola Ahmed Tinubu Strengthens Bilateral Ties with UAE During Middle East Visit

President Bola Ahmed Tinubu Strengthens Bilateral Ties with UAE During Middle East Visit

 

President Bola Ahmed Tinubu of Nigeria has underscored his administration’s commitment to bolstering the country’s relationship with the United Arab Emirates (UAE). During a strategic visit to the Middle East, the Nigerian leader held a bilateral meeting with Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, to explore avenues for enhancing cooperation between the two nations.

The meeting focused on key areas of mutual interest, including deepening economic ties, fostering innovation, and promoting collaborative efforts. Tinubu described the UAE as a vital partner for Nigeria, emphasizing the shared commitment to advancing strategic partnerships aimed at sustainable development, increased trade and investment, regional stability, and overall prosperity.

“This bilateral meeting highlights our shared commitment to advancing strategic partnerships that promote sustainable development, trade, investments, regional stability, and prosperity for all,” President Tinubu stated.

The Nigerian leader also participated in the Abu Dhabi Sustainability Week (ADSW), where he reaffirmed Nigeria’s dedication to global sustainability efforts. He extended his congratulations to the UAE for the success of this year’s ADSW and the Zayed Sustainability Prize, noting the event’s pivotal role in driving innovation for a sustainable future.

President Tinubu expressed optimism about the future of Nigeria-UAE relations, pledging to lay the groundwork for enduring cooperation, mutual respect, and shared progress between the two nations.

“We will keep building the groundwork for a future marked by cooperation, mutual respect, and shared progress between Nigeria and the UAE. I am confident that this relationship will continue to flourish, benefiting our nations and the global community,” he added.

In his remarks, President Tinubu conveyed his gratitude to Sheikh Mohamed bin Zayed Al Nahyan for the warm reception, ending with a note of appreciation in Arabic, “Shukran Jazeelan Ya Sahib Al-Samou Sheikh Mohamed bin Zayed Al Nahyan.”

The visit is expected to deepen Nigeria’s global alliances and foster economic and diplomatic ties with one of its key partners in the Middle East.

Dr. Adanna Steinacker Appointed Senior Special Assistant to the President of Nigeria on Women’s Health

Dr. Adanna Steinacker Appointed Senior Special Assistant to the President of Nigeria on Women’s Health

In a move signaling a renewed focus on women’s health and empowerment, Dr. Adanna Steinacker has been appointed as the Senior Special Assistant (SSA) to the President of Nigeria on Women’s Health. Announcing her new role, Dr. Steinacker expressed her commitment to advancing health and well-being for women and girls across Nigeria and Africa.

“It is with a profound sense of duty, humility, and gratitude that I embrace this unique opportunity to champion the health and empowerment of women,” Dr. Steinacker stated. “This role is a solemn call to service and an immense honor.”

A Vision for Transformative Change

Dr. Steinacker, a distinguished advocate for gender equality and women’s health, brings over a decade of experience in global health, community building, and policy innovation. Her collaborative efforts with prominent organizations, including the United Nations, Gates Foundation, Google, YouTube, and Goals House, have been instrumental in driving initiatives that close health gaps and empower women.

“This appointment represents a continuation of a journey dedicated to amplifying solutions for women’s health,” she remarked. “It is my hope to build on Nigeria’s remarkable progress, strengthen ongoing efforts, and guide transformative solutions that empower future generations.”

Collaboration and Leadership

Dr. Steinacker expressed gratitude to President Bola Ahmed Tinubu for entrusting her with the responsibility and pledged to align her work with the administration’s vision of a more equitable Nigeria. She also acknowledged the leadership of H.E. Dr. Muhammad Ali Pate, Honourable Minister of Health, and H.E. Imaan Sulaiman-Ibrahim, Honourable Minister of Women Affairs, for laying a strong foundation in health and gender-focused policies.

“Their leadership has been pivotal, and I look forward to working alongside them to break systemic barriers and advance policies that ensure no woman or girl is left behind,” she added.

Call for Collective Action

Dr. Steinacker emphasized the importance of collaboration in addressing systemic challenges. She invited partners, colleagues, and stakeholders to join in a collective effort to transform the health and dignity of women and girls across Nigeria.

“As I step into this role, I am filled with hope for a future where every woman thrives, unburdened by barriers to health and well-being,” she said. “Progress requires collective ambition, and together, we can accelerate transformative change.”

Commitment to Nigeria’s Growth

Dr. Steinacker’s appointment underscores the administration’s focus on health and gender equality as cornerstones of Nigeria’s development. Her leadership is expected to play a critical role in advancing policies and programs that strengthen healthcare systems, empower women, and promote social equity across the nation.

“Women’s health matters—today, tomorrow, and always. May we press forward with humility to listen, courage to act, and the dedication to see this mission through,” she concluded.

God bless Nigeria. 🇳🇬

Nigeria Advances Digital Connectivity with USTDA Grant and Strategic Partnerships

Nigeria Advances Digital Connectivity with USTDA Grant and Strategic Partnerships

The year began on a promising note for Nigeria’s digital economy as Dr. ‘Bosun Tijani, the Honourable Minister of Communications, Innovation, and Digital Economy, led a delegation of prominent Nigerian telecom and tech leaders to the United States for a landmark event.

The delegation witnessed the signing of a historic U.S. Trade and Development Agency (USTDA) grant, aimed at developing 90,000 kilometers of new fiber optic backbone infrastructure across Nigeria. This transformative project will follow critical routes along the national power grid, railways, roads, and oil and gas pipelines, significantly boosting the nation’s digital connectivity.

Kendall Ananyi, CEO of Tizeti, emphasized the project’s potential to revolutionize broadband accessibility in Nigeria. “Once completed, this initiative will reduce Tizeti’s bandwidth cost of sales by 90%, enabling us to generate additional free cash flow to accelerate broadband penetration through our recently launched FreeFiber.Africa project,” he stated.

Strategic Engagements at U.S. Institutions

The Nigerian delegation commenced the day at the U.S. Department of State, engaging with senior officials to solidify bilateral relations. The group then participated in a U.S.-Nigeria Strategic Technology Dialogue roundtable, hosted by the U.S.-Africa Business Center at the U.S. Chamber of Commerce. The panel discussions, led by Kendra Gaither, provided a platform to explore opportunities for collaboration in advancing Nigeria’s tech ecosystem.

The delegation featured notable figures, including Senator Shuaib Afolabi Salisu (Chairman, Senate Committee on ICT & Cybersecurity), Hon. Adedeji Stanley Olajide (Chairman, House Committee on Digital Economy & ICT), Ambassador Samson Itegboje, and Jane Egerton-Idehen of NIGCOMSAT. They were joined by tech leaders like Dr. Bunmi Ajala of NCAIR Nigeria, Victoria Fabunmi of NITDA, and Osibo I., representing Nigeria’s thriving telecoms and tech industries.

On the U.S. side, key government officials such as Deputy Secretary of State Kurt Campbell, USTDA Director Enoh T. Ebong, and USAID Chief Digital Development Officer Christopher Burns joined the discussions. Jennifer Bachus, Principal Deputy Assistant Secretary, and Sarah Whitten, Senior Vice President of the Export-Import Bank of the United States, further enriched the dialogue.

Tizeti, a pioneer in Nigeria’s broadband sector, also highlighted its previous collaborations with the USAID Incentive Fund, underscoring the impact of U.S.-Nigeria partnerships in driving development.No alt text provided for this image

Strengthening Ties in Silicon Valley

The delegation’s visit extended to Silicon Valley, where Tizeti hosted the Federal Ministry of Communications, Innovation, and Digital Economy team, along with notable figures such as John Onwualu of Flourish Ventures and Chukwuemeka Afigbo. The gathering in San Francisco furthered discussions on the Nigeria Startup House initiative, reinforcing the commitment to foster innovation and technological growth in Nigeria.

The signing of the USTDA grant and the engagements in Washington and Silicon Valley mark a significant milestone in Nigeria’s journey toward achieving robust digital infrastructure and economic transformation. These strategic collaborations between Nigeria and the United States will undoubtedly accelerate the nation’s push toward a more connected and innovative future.

Rev. Fred Obetoh Inspires Worshippers with Transformational Sermon on the Power of Decisions

Rev. Fred Obetoh Inspires Worshippers with Transformational Sermon on the Power of Decisions

 

 

At a deeply moving Sunday service, Rev. Fred Obetoh delivered a profound sermon on the theme “Decision Making,” emphasizing the life-altering power of choices and their role in shaping personal and spiritual destinies. Drawing from the scriptural passage Matthew 4:1-11, Rev. Obetoh highlighted how chance, choice, and change are integral to navigating the journey of life.

“It is your choice to fast or indulge in excess,” he began. “But remember, man shall not live by bread alone. Your choices determine your outcomes.”

Overcoming Temptations and Staying Firm

Rev. Obetoh recounted the temptations faced by Jesus during His time in the wilderness, using the narrative to illustrate how trials often intensify during moments of spiritual focus. He encouraged the congregation to remain unwavering and resolute in their faith, even when challenges arise.

“Temptations will come, especially during periods of fasting or spiritual discipline,” he said. “It’s your decision to remain steadfast.”

The sermon also touched on the subtle dangers of success, with Rev. Obetoh issuing a cautionary note:

  • “Satan can use success to destroy you.”
  • “It’s not only the cross that kills; the crown can also kill.”
  • “The praise of men is deceitful, and if you can’t manage success, the enemy will use it to ensnare you.”

Declaring 2025 as a Year of Breakthrough

Rev. Obetoh declared 2025 as a year of breaking limits and achieving breakthroughs. Leading the congregation in prayer, he proclaimed, “This year, you will break even. You will not struggle. Positive changes are coming your way!”

He emphasized the importance of mindset, urging worshippers to take charge of their thoughts and self-perception.
“Call yourself ‘SUCCESS.’ Break limits and exceed boundaries. Look at your problems and call them ‘NOTHING.’ You can do all things through Christ who strengthens you.”

The Right People in Your Life

Citing Luke 12:15-20, Rev. Obetoh provided a fresh perspective on relationships, reminding the congregation that God places people in our lives not for what we want but for what we need. “The people you need will love and build you up, even when it’s uncomfortable,” he said.

A Practical Framework for Balanced Living

To help the congregation manage their time effectively, Rev. Obetoh introduced the 8+8+8 Rule, a simple yet powerful approach to balancing life’s demands:

  • 8 hours for hard work to drive productivity and purpose.
  • 8 hours for sleep to ensure physical and mental well-being.
  • 8 hours divided among the following priorities:
    • 3F: Family, Friends, and Faith.
    • 3H: Health, Hygiene, and Hobby.
    • 3S: Soul, Service, and Smile.

This framework, he explained, allows individuals to maintain a holistic and fulfilling lifestyle.

Money as a Messenger of Purpose

Rev. Obetoh spoke on the role of money, describing it as a tool that serves those who solve problems. “When you focus on service and adding value, financial blessings will follow,” he assured the congregation.

Final Charge for 2025

The sermon concluded with a powerful declaration for the year:
“In 2025, my life must change for good!”

Rev. Obetoh’s message left the congregation inspired and reflective, equipping them with spiritual insights and practical tools to navigate the year ahead. The sermon reinforced the importance of making intentional decisions, embracing positive changes, and remaining anchored in faith and purpose.

Why Every Man Must Have a Reliable Job Before and After Retirement (Beyond Pension)

Why Every Man Must Have a Reliable Job Before and After Retirement (Beyond Pension)

 

Gentlemen, do not be deceived. A significant part of why your marriage thrives today is because you can provide for your family.

Your wife respects and submits to you largely because you meet her needs, not just because of love. While love is important, it can sometimes falter under pressure.

When you lose your job and struggle to find another, you’ll soon realize that money can hold more weight than love in a marriage.

I’ve had many men reach out to me, expressing how their wives’ behavior changed when they lost their jobs. Reading through their comments, I couldn’t help but smile. It’s clear that many men misunderstand women’s perspectives.

As an expert on relationships, I can tell you this: most women will change their attitudes when their husbands lose their jobs and are no longer able to provide.

And when I say “most,” I mean the majority, with few exceptions.

There are four stages that many women go through when their husbands lose their source of income:

  1. Sympathetic Stage
    At first, your wife will feel sympathy for you. She’ll recall all the good times when you provided for the family, when food was always on the table, and you took care of her and the kids. If she’s working, she’ll step up and support you without complaint. She’ll respect you even more, offering emotional and moral support, believing that this is only temporary. She’ll give you a time frame to get back on your feet. If you’re fortunate enough to secure another job within that time frame, she’ll commend your resilience. But if you don’t, prepare for the next phase.
  2. Annoying Stage
    At this point, small things you do will irritate her. She won’t express it directly, but internally, she’s frustrated. Why are you pressing the toothpaste in the middle? Why didn’t you hang the towel outside to dry? Why aren’t you preparing dinner when she comes home, despite you being home all day? These issues weren’t a problem before, but now they are, and her respect for you begins to dwindle. If this stage drags on without any progress from you, you’ll find yourself moving into the next stage.
  3. Irritating Stage
    Now, you become intolerable to her. The sympathy she had for you turns into resentment. Every little thing you do irritates her, and she starts comparing you to other men who’ve managed to secure jobs after losing theirs. She stops allowing intimacy, withdraws her affection, and may even deny you some privileges. If you still haven’t secured a job, you’re about to enter the final stage.
  4. Frustrating Stage
    In this stage, the relationship reaches a breaking point. It becomes clear that she can no longer live with a jobless husband. Whether she leaves you or you decide to move out, the marriage is on the brink of collapse.

No woman is wired to be the breadwinner for long. While the timeline for each woman differs, no woman will forever respect and submit to a man who cannot provide. Some might transition from one stage to the next within months, while others may take years. But the truth remains: without a reliable income, your marriage and happiness are at risk.

This is why it is crucial to protect your income source by any means necessary.

Your mental peace, the success of your marriage, and even your overall well-being depend on it.

If you lose a job and your dream role doesn’t appear immediately, take on any legitimate work that allows you to maintain your dignity and put food on the table.

Women, I apologize, but the truth is tough to hear. Gentlemen, you’ve probably seen this happen, or at least heard about it. Don’t be angry; this is how most women respond, as it is in their nature.

Only a very small percentage may act differently. Where does your marriage stand?

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FRIEND, WHEN YOU SEE THE FOLLOWING SIGNS, KNOW THAT YOUR SACK IS IMMINENT

FRIEND, WHEN YOU SEE THE FOLLOWING SIGNS, KNOW THAT YOUR SACK IS IMMINENT

 

By Anayo Nwosu

The current economic situation of bank customers that makes it difficult or almost impossible for them to drop idle deposits for their account officers or to even repay their bank loans is like a rat poison to many bankers.

Bank owners or executive management are getting very impatient with bank employees’ low performance on set deposits and profit targets and have decided to curtail their expenses on salaries of staff they have categorized as value eroders or laggards.

This is the time to remember your banker friends in prayers as their seemingly long flap is no longer the size of their brokus.

The reality check is here and that which most bankers had feared most is now upon them. Sack now stares them in the face.

If you are a banker, I encourage you to read and internalize this piece. It is in your own enlightened self interest to do so.

A visit to my friend’s poultry farm taught me a lesson of my life.

My friend is also my bank’s customer.

While taking me round his poultry farm, my friend showed me his broilers and other species of his other birds.

He kept emphasizing on how well fed, healthy and well maintained his poultry was.

He said that he loved the old layers more because they laid enough eggs which sales generated the cash flows he so much needed to service his bank loan. Other fowls were being grown and sold at maturity.

He revealed that he segregated the hens or old layers into three categories:
i) those that just started laying eggs;
ii) the ones at the peak of their efficient egg laying and;
iii) those that were either tired or could no longer lay eggs as they used to.

The third category (i.e tired old layers) were earmarked for sales or will be killed, processed and supplied to restaurants and other buyers.

My friend told me that each bird in his farm would one day be sold off or be eaten by him.

Is the fate of the old layer any different from the career of many bankers?

Every banker, if he or she does not resign or retire voluntarily, would be shown a way out one way or the other.

Even bank owners are often sacked by regulators these days.

Is it not wise to study what happened to others and read the signs of times and mitigate the effects when the unexpected happens?

Dear banker, be smart and perceptive, watch out for the following sack-preceding signs:

1. When you have a score of below 40% in the last your two appraisals. It is a sound HR practice to ease out 20% of the worst performers regarded as laggards.

2. When as a branch manager or head of marketing or strategic business unit (SBU), you have been posting losses for up to 4 months. It will be a miracle if you remain at your post after the 6th month.

3. If by an act of omission or commission you superintended a unit responsible for a bank’s loss of income arising from reversals, wrong postings or avoidable expenses. Those who booked bad loans are tagged in this category.

4. If your immediate boss feels threatened by your potentials especially if you had acted when he or she was on leave and had impressed the management by your performance or carriage. Your days are numbered.

Your boss would plan for your exit because you are deemed as his/her perfect replacement.

Many insecure bosses would always run you down before management until you are sacked. If you escape with a transfer to another location, you are lucky.

5. If during a bank-wide performance review meeting, more than one influential member of the executive committee pick you for shredding.

Count your days if they say you are rude, unprofessional and uncooperative. You have been discussed and you most likely will make the next sack list.

6. If you feel, and are convinced that your boss wants to see how you look when you pull off your apparels, and you are not ready to play ball. The lust would soon turn to irritation and unwarranted annoyance. Your sack would be quickened if your performance scores are low.

7. If, as a guy, you are dating or perceived to be interested in a lady your boss has been scheming to have. If you are not sacked summarily, you may be transferred to a remote location.

8. If you are deemed too old and dispensable, just know that the time to quit is near. This is after you have worked in virtually all the departments of the bank and are parked in one not-too demanding function.

Sometimes, you see yourself answering to an inaudible calls only to hear, “I was not talking to you” from your colleagues.

9. If the bank’s leadership believes that you are not to be trusted with sensitive information. Have they narrowed down a major leak or gossip to your side? Your rival colleague might have sold the news to management to do you in.

10. When you have lost seniority to two sets your juniors without any reason known to you. That you have not been sacked is that management has been looking for a plausible reason to carry out your sentence.

All through my banking career, I have seen very bright stars dim; rapidly promoted staff stagnated and hounded out of the bank.

I have also seen yesteryears laggards become the new kids on the block. It’s like a yoyo.

You may never know your fate whenever there is a slight change of leadership at the top or middle management.

I know of one self-confident operations department head who was de-feathered by a redeployment to a market-facing function. All the swagger and arrogance melted into priestly humility. He was asked to go within six months due to non-performance.

Banking has taught me that monkeys are deemed magnificent when the trees are near to each other in the forest but would understandably become very ordinary in the desert.

Once the performance facilitating dynamics of you current posting change, your rating and relevance change.

Because every fowl in my friend’s poultry farm would one day be sold or eaten just as your banking career would one day end, why not do things differently?

I advise that you work so hard to make great friends with many of your colleagues (both junior and senior) and customers. They would be your the safety net when you find yourself like a fish out of water.

An intelligent peep into the after-career lives of wicked bosses or those who willingly allowed themselves to be used to truncate the careers of fellow colleagues for transient gains, would be a correctional slap you may need now to think straight.

Now that you know this, what is your exit strategy or Plan B?

Your services may be deemed not-required earlier than you think.

NITDA, NFIU Collaborate on AML/CFT Data Management System Upgrade

NITDA, NFIU Collaborate on AML/CFT Data Management System Upgrade

 

In a critical step toward addressing Nigeria’s financial challenges and advancing its digital transformation agenda, the National Information Technology Development Agency (NITDA) met with the Nigeria Financial Intelligence Unit (NFIU) to present plans for the development and implementation of Project Exit: Upgrade of NFIU Data Management System and Compliance Platform.

This initiative stems from the findings of the Mutual Evaluation Report (MER) of Nigeria, which highlighted significant deficiencies in data availability and statistical analysis. These gaps hinder a comprehensive understanding of the nation’s Money Laundering (ML) and Terrorism Financing (TF) risks and the effectiveness of its Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) framework. As a result, Nigeria was placed on the Financial Action Task Force (FATF) Grey List—a designation with far-reaching implications for the country’s global reputation, economic stability, and access to international financial markets.

In response, the NFIU sought and received President Bola Ahmed Tinubu approval for NITDA to spearhead the enhancement of the existing AML/CFT/CPF Data Management Framework.

The project is designed to achieve the following objectives:

1. Achieve FATF compliance, enabling Nigeria’s removal from the Grey List and restoring international confidence.

2. Enhance NFIU’s operational capacity *in AML/CFT/CPF Data Management* through automation, intelligence integration, and scalability.

3. *Establish a robust and sustainable framework to ensure long-term operation of the data management platform that will support subsequent FATF mutual evaluation and other international assessments.*

4. Position Nigeria as a global leader in financial intelligence and AML/CFT practices, setting benchmarks for other nations.

To bridge the gaps identified in the MER, the collaboration is set to leverage advanced technology to strengthen Nigeria’s financial intelligence infrastructure and also improve its standing in global financial systems.

In attendance were Chairman House Committee on Information and Communications Technology and Cybersecurity, Hon. Adedeji Olajide, Director General of NITDA, Kashifu Inuwa Abdullahi; Chief Executive Officer, NFIU, Barrister Hafsat Abubakar Bakari; top management staff of both organisations.

Ndubuisi Ekekwe Applauds Dangote Refinery’s Transformational Impact on Global and Local Markets

Ndubuisi Ekekwe Applauds Dangote Refinery’s Transformational Impact on Global and Local Markets

 

Renowned Nigerian academic and entrepreneur, Professor Ndubuisi Ekekwe, has commended the Dangote Petroleum Refinery for its groundbreaking contributions to the global and Nigerian energy sectors. In a recent Facebook post, Professor Ekekwe described the refinery as a “game changer” with far-reaching implications for international fuel markets and Nigeria’s economic landscape.

Citing a report from the Organization of Petroleum Exporting Countries (OPEC), he highlighted the refinery’s impressive production capacity and high-quality output, which are redefining market dynamics. “With its impressive production capacity and high-quality petroleum products, the refinery has begun disrupting international fuel markets while gaining traction as the preferred supplier for Nigerian consumers,” Ekekwe noted.

The professor emphasized how the refinery is reducing Nigeria’s dependency on fuel imports, a significant shift that has disrupted global supply chains. He pointed out the decline of several European refineries, which are losing market share to West African producers. While acknowledging the challenges faced by competitors, Ekekwe stressed that Africa’s ability to build and sustain such industrial ventures is crucial to gaining global respect.

“Daily, I still wonder why Nigerians are hungry when we have Ekiti, where every home has a PhD, Ohafia, with its wealth of mansions, Kano’s historical trade routes, and Jos’s enviable climate,” he lamented, pointing to Nigeria’s vast yet underutilized potential.

Ekekwe urged stakeholders to replicate the success of the Dangote Refinery in other critical sectors such as steel and electricity. He argued that resolving Nigeria’s energy challenges at the household level would revolutionize the country’s economy and significantly enhance the quality of life for millions of citizens.

He concluded with praise for Aliko Dangote, the founder of the refinery, describing him as a visionary leader who empowers Nigerians and inspires hope for a prosperous future. “Aliko Dangote: Chukwu gozie gi (May our good Lord continue to bless you). He does what it takes to give people back their power,” Ekekwe wrote.

The Dangote Petroleum Refinery, which is Africa’s largest, continues to attract global attention, solidifying its status as a beacon of industrial progress in Nigeria and beyond.