Category: Business

  • Zuldal Microfinance Bank unlicensed, says CBN

    Zuldal Microfinance Bank unlicensed, says CBN

    The Central Bank of Nigeria (CBN) has warned against doing business with an entity known as Zuldal Microfinance Bank Limited.

    The apex bank declared the organisation is not licensed to operate as a microfinance bank in the country.

    In a statement in Abuja, the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, said the apex bank became aware of reports that the entity, which allegedly operates branches in Lagos, Abuja, Kaduna and Kano, had been claiming to hold a CBN-issued licence to engage in microfinance banking.

    She said the claim was false, stressing that “Zuldal Microfinance Bank Limited is not a licensed microfinance bank and has no authorisation from the Central Bank of Nigeria to operate or carry out any form of banking or microfinance business in Nigeria.”

    Mrs. Sidi Ali referred to the provisions of Section 2(1) of the Banks and Other Financial Institutions Act (BOFIA) 2020, which clearly states that “no person shall carry on any banking business in Nigeria except it is a company duly incorporated in Nigeria and holds a valid banking licence issued by the CBN.”

    The CBN urged members of the public to disregard any claims of approval or licensing attributed to Zuldal Microfinance Bank Limited and cautioned Nigerians against engaging in financial transactions with the firm.

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    It said: “The general public is therefore strongly advised to disregard any claims of licensing or approval by Zuldal Microfinance Bank Limited and to refrain from engaging in any financial transactions with the said entity, as such dealings are undertaken at the individual’s own risk.”

    The apex bank stated that it remains committed to protecting the integrity of the financial system and safeguarding Nigerians from the activities of unregulated and fraudulent operators.

    It added that a full list of all licensed financial institutions in the country can be verified on the CBN’s official website.

  • ‘Leverage ‘Nigeria First’ policy for growth’

    ‘Leverage ‘Nigeria First’ policy for growth’

    The Federal Government has called on indigenous companies to take full advantage of the Nigeria First Policy, a strategic initiative aimed at strengthening local content, boosting domestic production, and reducing dependence on imported goods and services.

    Secretary to the Government of the Federation (SGF), Senator George Akume, made the appeal in Abuja when the Managing Director and Founder of Solewant Group, Mr. Solomon Ewanehi, paid him a courtesy visit.

    Akume said the Tinubu administration remained committed to creating a business-friendly environment that supports Nigerian enterprises and enhances national competitiveness.

    The Nigeria First Policy, he noted, is already yielding positive results by encouraging local capacity, innovation, and industrial growth.

    He urged indigenous companies across sectors to seize emerging opportunities under the policy, stressing that increased reliance on Nigerian-made products and services would help build a more resilient economy.

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    He commended Solewant Group for its bold investments in the oil and gas value chain, particularly in steel pipes, metal fabrication and specialised coating solutions.

    He said the company’s move to tap into divestment openings created by departing international oil companies (IOCs) aligns with the Federal Government’s drive to strengthen indigenous participation in the energy sector.

    Earlier, Ewanehi disclosed that Solewant Group had expanded its operations into the production of steel pipes, coating materials and coated products for Nigeria and other African markets.

    He said the company was also supporting the Federal Government’s directive to the Petroleum Technology Association of Nigeria (PETAN) and industry stakeholders to increase the country’s crude oil output.

    Ewanehi further informed the SGF of plans to host the 9th Africa Energy Summit slated for November 27–28, 2025, in Port Harcourt.

    The summit, he said, will bring together experts and players in the sector to explore ways of boosting crude oil productivity and advancing Africa’s competitiveness in the global energy space.

  • Ireland, Nigeria seek stronger investment partnerships

    Ireland, Nigeria seek stronger investment partnerships

    Ireland has expressed renewed interest in partnering with Nigeria to strengthen cultural exchange, revive local textile industries and support small-scale manufacturing.

    This came the President of the Police Wives’ Association (POWA), Dr. Mrs Elizabeth Egbetokun and other stakeholders at the First Made-in-Nigeria Textile (MiNT) Summit in Abuja urged the Federal Government to adopt practical measures to rebuild the country’s struggling textile sector.

    Irish Ambassador to Nigeria, Peter Ryan, said Ireland sees significant promise in Nigeria’s cultural and creative industries and is eager to work with the government, communities, and businesses to preserve Nigeria’s indigenous textile heritage.

    He said both countries share a deep cultural identity shaped by history and expressed through fabric traditions.

    Ryan said Ireland’s experience in protecting its cultural assets offers relevant lessons. “We managed to protect our culture, our language, our textiles and our way of life through almost a thousand years of colonial rule.

    “We found a way to honour those traditions and integrate them into the modern world. That is why Irish textiles are in New York, Tokyo, Korea and Singapore today,” he said.

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    He stressed that Ireland seeks partnership, not competition, saying, “There is only one place in the world to make authentic Nigerian textiles, and only one place to make authentic Irish textiles. This is an area for cooperation.”

    According to him, Ireland’s home-based weaving traditions have become global cultural exports, and Nigeria can achieve the same by protecting local designs, reviving value chains and strengthening community-based fabric technologies.

    He added that the Nigerian diaspora in Ireland is already creating design collaborations that combine Irish and Nigerian influences.

    “We should think about Made in Nigeria every day, not just once a year. Anything that strengthens this ecosystem will help young people and honour the traditions gifted to us by our ancestors,” Ryan said, reaffirming Ireland’s readiness to develop structured partnerships built on trust, adding that the delegation at the summit would observe, understand and identify areas where Ireland can contribute.

    POWA President Egbetokun, who was honoured for her contributions to the promotion of Nigerian arts and culture, called for renewed commitment to revitalising the industry to ensure the survival and continued relevance of Nigerian textiles.

    She said the summit offered a window to stimulate national reflection on the future of the textile sector.

    Organisers of the MiNT festival warned that Nigeria risks losing critical cultural and economic assets if indigenous fabric technologies continue to disappear.

    Dr Lizzie Ben-Iheanacho, a member of the Central Working Committee of MiNT, said the festival aims to address the rapid disappearance of traditional production knowledge. According to her, Nigeria is losing not only cultural symbols but also intellectual property.

    “The fading heritage of producing Nigerian fabrics is a major concern. Generations have lost certain knowledge handed down by our ancestors.”

    Ben-Iheanacho said that when indigenous textile technology dies, foreign producers replicate local designs for commercial gain, leaving communities without economic benefit or recognition.

    “When that technology dies or is bastardised by outsiders, we lose the commercial rights over it,” she said.

    She urged the Federal Government to adopt practical measures, including mandating indigenous fabrics for school uniforms across states.

    “If every child in a government school uses two uniforms produced locally, communities will immediately see value in Made-in-Nigeria fabrics,” she said.

    She cited examples from Burkina Faso and Ghana, where government policies drove local textile adoption, and pointed to Ogun State’s initiative promoting Adire as evidence that state-led action can transform the sector.

    ChukwuEmeka Okereafor, Director of Programmes and Communication for MiNT, said the summit aims to renew national consciousness about the textile industry.

    He recalled that Nigeria once had a thriving sector supported by cotton farmers in the North, adding, “Fabrics and fashion are important parts of the identity of a people. We can’t let that die”.

    Okereafor said rebuilding the industry requires investment across the entire value chain—from cotton production to processing, design and distribution.

    He warned that reliance on import-driven revenue continues to undermine local industries, stressing, “You celebrate revenue from importation, whereas indigenous products are the ones suffering.”

    Other stakeholders at the festival traced the collapse of the textile sector to inconsistent policy direction, smuggling, low tariffs and the influx of cheap polyester fabrics that imitate local designs.

    The challenges, they said, weakened demand for cotton and forced many mills in Kaduna, Kano and other northern states to shut down.

    They called on the Federal Government to strengthen border controls, protect local manufacturers, expand support for cotton farmers, offer incentives to surviving mills and develop a coordinated revival strategy involving industry associations.

    The participants said revitalising Nigeria’s textile sector would stimulate rural economies, reduce unemployment, strengthen cultural pride and open new export opportunities.

    They also urged deeper Nigeria-Ireland cooperation in skills training, cultural exchange, design innovation and investment promotion, noting that Ireland’s centuries-old weaving tradition offers a model for sustainable heritage-based industry revival.

    The festival featured an exhibition of Nigerian textiles and the presentation of awards to deserving individuals, including POWA President Mrs. Egbetokun and the Irish Ambassador to Nigeria, Peter Ryan.

  • FirstBank justifies N200b loans to MSMES

    FirstBank justifies N200b loans to MSMES

    First Bank of Nigeria Limited (FirstBank) said it has identified poor funding as one of the biggest challenges facing Micro Small and Medium Enterprises (MSMEs) in the country.

    Head, SMEs Banking, First Bank of Nigeria Limited (FirstBank), Mr. Abiodun Famuyiwa said it was the need to bridge the funding gap for MSMEs and support growth in the sector that prompted the bank to lend over N200 billion to the sub-sector in 2024.

    Speaking at the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) 2025 National MSMES Conference held in Lagos, he said:  “Yes, one of the major problems MSMEs are confronted with, as we all know, is funding.

    We can’t shy away from it because they need money to be able to run their operations.  And in this area, FirstBank has come handy”.

    The conference with “Grow Nigeria: Building a Future of Innovation, Resilience , and Prosperity” as theme also focused on businesses, finance, technology and the creative economy.

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    Continuing, Famuyiwa said: “I can tell you confidently that last year, we disbursed  about N100 billion to businesses in across diverse markets alone. Petty traders also got about N70 billion, not to talk of businesses in other areas. Overall, FirstBank disbursed over 200 billion to small businesses in one year.

    Describing the feat as remarkable, he said: “So, we are wholeheartedly supporting them, and this funds are majorly given to them without any collateral at all. We just look at the way they do their businesses and determine what they can actually afford”.

    He further said that part of what the bank does is to look at the risk criteria of each SME to avoid lending beyond capacity.

     “We do not want to give SMEs money that will put them into trouble. So, we try to assess their businesses and also ensure that we monitor the usage of that fund,” he said.

    Famuyiwa said FirstBank has been directly involved in ensuring that SMEs businesses move to the next level.

     “We’ve organized different webinars, seminars for SMEs on how they can scale their businesses because growing businesses is not just about money alone. When the money is given to you, what do you do with it? How do you use that money effectively to be able to expand your business?”

    He said the bank’s SME Connect, remains an avenue for SMEs to meet, exchange ideas and learn from the experts.

     “We also enable them to meet with mentors who have been in those businesses for them to share their experiences, ask questions. They can express their pains, and such mentors will be able to respond to them effectively,” he said.

     “For instance, now we have POs that we give out to SMEs to be able to ensure that they can be able to do their businesses seamlessly. We also have SME liability accounts, which enables them run their businesses without any extra charge at all. So these are some of the additional efforts the bank actually used to be able to support the SME businesses,” he said.

    “Discussions during the conference further focused on policy dialogue that will support the review of National MSME Policy, which expired this year, and guide the development of a new five year policy framework. This session brings together federal, state, private sector leaders, financiers, development partners and MSME associations.

    The GROW Nigerian Fair ran as a large-scale exhibition showcasing some of Nigeria’s most promising SMEs across food, fashion, manufacturing, technology, entertainment and other sectors.

  • MTN Nigeria’s data users hits 51.1m

    MTN Nigeria’s data users hits 51.1m

    MTN Nigeria said it has positioned itself as the frontline partner in achieving the Federal Government’s broadband goals with its active data user base now at 51.1 million, a 12.8 per cent increase.

    This growth was directly linked to the company’s aggressive leadership in 4G/5G deployment and the accelerated rollout of its Fibre-to-the-Home (FTTH) network.

    The mobile network operator (MNO) also said it has solidified its position as a leading corporate social investor, committing and dedicating over N32.23 billion to national priorities through its Foundation.

     The investment is strategically deployed across key sectors, primarily youth empowerment, digital inclusion, and national development, reflecting the company’s core strategy of creating shared value.

    Commenting on the data milestone, the telco said: “We are proud to be the first telco to achieve over 82 per cent coverage in 4G, and the first to roll out 5H in Nigeria, already reaching an estimated 15 million of the population and counting.”

    It said its drive for connectivity is backed by significant capital spending. The capital expenditure (capex), excluding leases, soared by 248.0 per cent to N757.4 billion. This investment is strategically directed at capacity enhancement to reduce congestion and to deliver ultra-fast broadband to households through FTTH.

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    Demand for data remains robust, driving a 36.3per cent YoY increase in data traffic, with average usage per subscriber rising by 20.8per cent to 13.2GB. The home broadband base expanded to 4 million subscribers, with 281,000 added in Q3 alone, reflecting the growing demand for high-speed connectivity.

    The company’s ability to sustain investment is supported by its financial strength, which saw a major swing to a N750.2 billion profit after tax. Furthermore, MTN has committed to national infrastructure development by advancing the rehabilitation of the 110-kilometre Enugu-Onitsha Expressway under the RITC scheme.

    This dedication to infrastructure underpins the wider goal of digital inclusion. Chief Corporate Services & Sustainability Officer at MTN Nigeria, said: “We are committed to ensuring that we provide through these platforms access at the fingertips of every Nigerian. Oh yes, we truly believe that everyone deserves the benefits of a modern connected life.”

    On the N32.23 billion investment to national priorities, it said the cash funds critical initiatives such as the MTN Skills Academy and the provision of STEM scholarships. The impact is personal and profound. Sofiya Mustapha, a visually impaired student, shared that the MTN scholarship enabled her to learn “English… data programming, and attended programming courses”. Akas Ngozi, another beneficiary, expressed gratitude for the Foundation, “believing in our potential and providing a platform to pursue our dreams.”

    The Foundation’s efforts are actively integrated with federal programmes. MTN continues to support the Federal Ministry of Communications, Innovation & Digital Economy’s 3 Million Technical Talent (3MTT) Programme initiative, directly aligning with the company’s vision of driving inclusive growth.

    In addition to its Foundation work, MTN is contributing significantly to infrastructure. The rehabilitation of the Enugu-Onitsha Expressway under the RITC scheme is 50per cent complete, demonstrating a comprehensive commitment to supporting the nation’s growth priorities. The company’s ability to sustain this large-scale social investment is underpinned by its profitability, evidenced by the N750.2 billion PAT, and its overall fiscal responsibility, having paid over ₦6.9 trillion in taxes.

  • HR expert explores future of workplace

    HR expert explores future of workplace

    The workplace is ever-evolving and businesses must understand these dynamics to thrive in the scheme of things.

    The above will form the thematic pre-occupation at the is is the kernel of discussion according to HR Talent Hub Founder, Dr. Omotola Dayo-Adedapo at the upcoming HR Conference & Excellence Awards scheduled for December 6th and 7th, 2025, in Gbagada, Lagos.

    The event will bring together top HR professionals, industry leaders, and business executives to explore innovative strategies and best practices in human resource management.

    According to Dr. Dayo-Adedapo, the conference theme, “HR – The Heart of Business Success: Driving Purpose, People, and Performance,” underscores the critical role HR plays in driving business success.

    She described this year’s conference and awards ceremony as “mind-blowing, exquisite, and transformational,” highlighting the lineup of 36+ global speakers from four nations and four continents.

    Pressed further, she said the event will feature keynote sessions, panel discussions, interactive workshops, and recognition of outstanding HR leaders and organisations, providing opportunities for participants to engage with industry thought leaders and build meaningful relationships.

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    She said: “Day 1 is the Global HR Conference which kicks off at 8:00 am to 6:00 pm WAT, whilst Day 2 is the HR Excellence Dinner and Awards gala which kicks off at 3:00pm to 8:00 pm WAT. Participants are joining in-person and virtually all over the world.

    “This conference is one of Nigeria’s most anticipated HR gatherings, designed to celebrate innovation and excellence in human resource practice while fostering thought leadership and collaboration among industry players.

    “We are bringing together CEOs, business leaders, captains of Industries, HR leaders and subject-matter experts across various industries in multiple countries of the world, to discuss the pertinent need for purposeful leadership, employee-centered culture, and data-driven performance management strategies in shaping organisations of today and the future. The best part is, we are doing all of these, whilst creating a balanced atmosphere of fun, learning, strategic relationship building and premium networking opportunities.

    “With an incredible line up of 36+ global speakers across four nations of the world, and four continents, the keynote sessions and panel discussions feature astute HR leaders, subject-matter experts, industry change-makers and board executives across over 18 sectors of the Nigerian and global economy!

    “Through inspiring keynote sessions, expert-led panel discussions, interactive workshops, and recognition, the two-day event seeks to inspire new ideas that shape the future of work. It will also celebrate outstanding HR leaders and organisations who have demonstrated strategic impact, innovation, excellence and resilience within the business ecosystem.”

  • ‘Policy consistency needed to boost EV adoption’

    ‘Policy consistency needed to boost EV adoption’

    Stakeholders from the public and private sectors in the e-mobility industry have emphasized the importance of collaboration between government and private sector players, as well as consistent policies, to promote widespread adoption of electric vehicles in Nigeria.

    This was part of the submission made at the inaugural Electric Vehicle Nigeria exhibition and Conference held at the Federal Palace Hotel, Victoria Island, Lagos.

    Speaking at the exhibition titled “Driving the Future,” the convener of EV.N EXPO and Conference, Abiola Adekoyejo, noted that the expo was organized to deepen conversations around co-creation and collaboration to drive growth in the EV mobility sector.

    Adekoyejo stated that the expo was happening at a critical time, when issues like the removal of fuel subsidy hadtriggered the need for a multi-modal approach to Nigeria’s transportation system.

    He emphasized that with the right incentives, policies, and interventions, the e-mobility ecosystem will play a vital role in helping the government achieve its goal of building a resilient economy, adding that Nigeria has the conditions and innovation needed to lead Africa’s e-mobility adoption.

    Setting the stage for the Expo, the keynote speaker, Chairman and Chief Executive Officer of SAGLEV INC, Sam Faleye, who delivered a presentation on the topic titled “E-mobility as an Alternative Source for Revenue Generation,” emphasized the need for Nigeria to capitalize on the growing interest in electric vehicles by transforming it into a sustainable investment.

    According to Faleye, it has become crucial for stakeholders in the EV ecosystem to develop the right financing models, policy incentives, and partnerships that can speed up EV adoption, local manufacturing, and infrastructure development.

    He stated that Nigerians cannot afford to ignore the market that EVs create, urging others to make significant investments that will not only help address challenges such as rising fuel costs but also create jobs for the people.

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    In his remarks, Director of Engineering & Design at IHS Nigeria, Gaith Al-Hassan, stated that there is no need to reinvent the wheel in the EV mobility sector, as the telecom sector presented similar challenges many years ago when the company embarked on tower installation.

    Al-Hassan explained that stakeholders must be prepared to overcome the challenges of grid reliability, power, and security to support the needs of many Nigerians.

    He commended the organizer for taking a bold step that will undoubtedly shape the future of mobility in Nigeria, noting that this step alone will ultimately herald interest and possibly deepen investment in the EV space.

    Delivering his keynote speech titled “E-mobility in Grassroots Development: Skills, Jobs and Local Enterprise,” the Executive Chairman, Kosofe Local Government, Barr. Moyosore Ogunlewe stated that electric mobility has become increasingly important for driving local job creation, skills development, and supporting small businesses.

    He explained that grassroots communities stand to gain significantly from Nigeria’s transition to clean transportation, considering the many opportunities in EV assembly, maintenance, and charging infrastructure.

    According to him, the e-mobility ecosystem, comprising interconnected components, presents distinct opportunities for grassroots involvement, including vehicle assembly, maintenance, energy infrastructure development, battery management services, and digital platform operation.

    “The local government must provide supportive policies and regulatory clarity. Additionally, private sector partners must contribute technology, expertise, and market access, while financial institutions must provide accessible credit facilities. The community organizations must also ensure inclusive participation, particularly for women and also for the youth,” he said.

    Speaking on a discussion titled “E-mobility Advantage in Public Transportation,” the General Manager, Bolt Nigeria, Osi Oguah, remarked that EV remains the best option for ride-hailing businesses given the astronomical rise in fuel prices and other operational costs.

    Oguah said Bolt is already exploring partnerships with fleet owners and EV manufacturers to reduce operational costs by 40% compared to using combustion engine cars.

    Also speaking, Chairman, Alliance for Economic Research and Ethics Ltd, Dele Oye stated that the government must ensure that policy on EV mobility is consistent and codified into law to guard against future losses that may be incurred by investors.

    The event also featured exhibitions from leading EV manufacturers, charging technology providers, and e-mobility startups. The conference provided a platform to hear case studies focused on logistics, public transit, and job creation, while also posing challenging questions about how to address inequalities in Nigeria.

    With the success of the inaugural edition of the EVN Expo and Conference, it is hoped that the next edition, which is billed to hold in the second quarter of 2026, will look to drive investments that will enable Nigeria to keep up with the pace of e-mobility globally.

  • Foundation holds business clinic for SMEs

    Foundation holds business clinic for SMEs

    The Rose of Sharon foundation recently kicked off this year’s Business Clinic for young entrepreneurs.

    Tagged: The Business Clinic: Carving the Path to Business Success and Resilience, the programme, now in its third edition, kicked off November 13 at the Rose of Sharon Glorious Ministry International, Ogunlana Drive, Lagos, and will span four months, climaxing in February 2026.

    The 3-in-1 programme classified into Masterclass, Coaching and Mentorship sessions, had facilitators like Mrs. Bukola Majekodumi, CEO, Bosworth  Marketing Consulting; Mrs. Ayodeji Megbope, CEO, No Leftovers Limited; Olufemi Peter Adedokun, CEO Mesopetra Limited; Olusola Gbobaniyi, Head of Talent Acquisition (People) and Organisation Improvement, Stressert Integrated Limited; Dr Senukon Ajose-Harrison, CEO Ascent-Gold Intercontinental Consult Limited; Eng Taiwo Sunday TokunboBewaji, Assistant Director Training at Lagos State. Public Service Staff Development Centre and Elizabeth Achike Osegbue, Sales/Marketing Manager at Fibrecom Limited, attending to the participants.

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     The Chief Host was founder, Group Managing Director of The Rose of Sharon Group, Apostle Folorunso Alakija.

    According to The Rose of Sharon Country Director, Dr. Ndudi Bowie, “The Business Clinic is designed for young SMEs; young people who are entrepreneurs or self-employed in their own business. Like a normal clinic where you go to see a doctor when you’re not feeling well or have challenges, the Business Clinic is where SMEs come with their Pain Points. Bear in mind that we are particular about that word, PAIN because of the word CLINIC.”

    She explained further that the over 70 participants were divided into four groups based on their pain points: Strategic Direction, Risk Management and Mitigation (being manned by Engr. Bewaji); Resource Mobilisation and Sustainable Financing (Mrs Ayodeji Megbope); Growth, Visibility, Staffing and Business Structure (Mrs. Achike Usegbue); and Branding, Marketing and Sales (Dr. Ajose Senokon Harrisson).

    Aside from speaking on these areas, Bowie said the facilitators would also be addressing the specific challenges of each of the participants in their group, with an opportunity of further mentorship based on their individual performances.

  • World Bank Group appoints MD

    World Bank Group appoints MD

    The World Bank Group has appointed Paschal Donohoe as its Managing Director and Chief Knowledge Officer. Donohoe has served as Ireland’s Minister for Finance since January 2025, and as President of the Eurogroup of finance ministers since July 2020. His extensive experience spans both the public and private sectors, including nearly a decade at Procter & Gamble. “Paschal brings more than twenty years of public service, and knows firsthand how good policies can unleash private capital mobilization, boost growth, and generate jobs,” said World Bank Group President Ajay Banga.

    “He also brings extensive knowledge of how investors, private sector, financial companies, technology firms, and others operate – from his near decade of experience in the private sector. This combination will be invaluable at ensuring the World Bank Group delivers more impact at scale.”

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    As Chief Knowledge Officer, Donohoe will lead on shaping, managing, and leveraging the institution’s Knowledge Bank—a force multiplier in the mission to fight poverty and improve quality of life in emerging markets and developing economies. He will ensure that the World Bank Group offers its sovereign and private clients proven solutions that can be used at scale, based on the best combination of expertise in regulations, technological advances, and development innovations. He will also be responsible for the World Bank Group’s strategic engagement with governments, civil society, foundations and philanthropies.

    “It is a tremendous honor to take up this role at the World Bank, as Managing Director and Chief Knowledge Officer,” said Paschal Donohoe. “In more than twenty years as a public representative, my motivation has been to improve the lives of all of the people I represent and to foster engagement and cooperation as the best means of progressing vital issues.”

    “By encouraging collaboration with, and between, governments and global institutions we can make progress and meet the challenges we face head-on. This has been a key and continuous theme of my public life and the work that I have done. The need for this has never been greater than it is today. I look forward to playing a central role at the World Bank in making the case for this cooperation at a time of great change in our world.”

  • Shippers Council to cut 21-day dwell time at ports

    Shippers Council to cut 21-day dwell time at ports

    Nigerian Shippers’ Council has intensified efforts to tackle the country’s prolonged cargo clearance delays—currently averaging 21 days, and considered one of the longest globally, by strengthening collaboration with the Maritime Police Command through a new capacity-building programme.

    The workshop with the theme “Facilitating Port Efficiency: The Strategic Role of the Maritime Police”, held yesterday, in Lagos.

    Declaring the training open on behalf of the Council’s Executive Secretary and Chief Executive Officer, Pius Akutah, the Director, Regulatory Services Department, Margaret Ogbonnah, said the event marks “a high-point” in the port regulator’s long-standing partnership with the Nigeria Police, especially as the Federal Government pushes for more efficient port operations under the blue economy reform agenda.

    In his remarks, the ES noted that the country continues to lag behind regional and global peers in cargo clearance speed.

    “While it takes only 6 hours to clear a containerised cargo in Singapore and seven days in Lomé, it takes an average of 21 days or more in Nigerian ports. This has contributed to Nigeria’s low global perception index on Ease of Doing Business,” he said.

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    He explained that despite several government interventions, reductions in dwell time have been hindered by a combination of operational gaps and human-factor-related delays.

    Akutah said the Council has received reports from port stakeholders about various forms of interference affecting cargo movement, including detention orders placed on cargo already cleared through due process, operational disruptions linked to multi-layered enforcement activities, and accidents involving personnel of shipping companies and terminals

    He emphasised that such actions—whether arising from misunderstandings or procedural oversights, tend to extend dwell time and increase demurrage and storage charges for businesses.

    “Investigations often showed that some actions were carried out without the knowledge of the appropriate authorities within the Maritime Police Command,” he said.

    This, he added, prompted both institutions to engage the Inspector General of Police in 2018, resulting in a directive that only letters signed by the AIG or duly designated officers should be acted upon, thereby streamlining enforcement communication at the ports.

    “Together, we have achieved quite a lot, but we cannot rest on past achievements. Our focus must be firmly on attaining international best practices,” Akutah said.

    Represented by the Assistant Commissioner of Police Administration, Ports Authority Police, Western Command, ACP Olufikayo Fawole, the Assistant Inspector-General of Police (Maritime Command), AIG Chinedu Oko, commended the NSC for sustaining a collaborative platform that supports law enforcement efficiency within the maritime environment.

    “Modern port security goes far beyond traditional policing. The efficiency of our ports depends significantly on how effectively law enforcement interfaces with operators, regulators, freight forwarders, shipping lines, and the wider supply chain,” he said.

    He stressed that the Maritime Police play a critical role in securing maritime assets, deterring cargo-related crimes, preventing pilferage, and ensuring that legitimate trade flows without avoidable friction.

    “Your professionalism and integrity directly influence the confidence of shippers, investors, and the international maritime community,” he said.

    Delivering the technical paper on behalf of the AIG, DCP Chukwuemeka Obasi said the efficiency of the country’s ports is inseparable from the security framework supporting them.

    He outlined three key reform pillars guiding police operations toward improved port efficiency. The first focused on operational streamlining by harmonising enforcement roles with the Nigerian Ports Authority (NPA), Nigeria Customs Service, NIMASA and other agencies to eliminate duplication.

    The second emphasised technology integration, particularly the deployment of digital surveillance systems, cargo-monitoring platforms and intelligence tools under initiatives such as the Deep Blue Project. The third pillar centred on strengthening stakeholder collaboration by enhancing joint task forces and port security committees to ensure more coordinated maritime security responses.

    However, he noted persistent challenges including overlapping mandates among agencies, limited patrol and surveillance logistics, legal bottlenecks in prosecuting maritime offences, and ethical concerns that can undermine efficiency.

    To address these, he recommended joint security frameworks, expanded specialised training, smart surveillance, legal reforms, and stronger accountability systems, insisting that policing must support, not obstruct, trade facilitation.

    In closing, the NSC boss reaffirmed that port efficiency cannot be achieved by one institution alone.

    “Our mandate as Port Economic Regulator is to ensure efficiency, but it requires synergy with the Maritime Police and all stakeholders. This training is part of our commitment to educating officers and promoting global standards in port operations,” he said.

    He commended officers of the Council and the Maritime Police Command for their role in organising the programme and urged participants to apply lessons learned to their daily operational decisions.

    With Nigeria still grappling with a 21-day average cargo dwell time, the NSC says eliminating procedural bottlenecks, improving security coordination, and strengthening professionalism within port corridors remain central to restoring competitiveness. The Council and the Maritime Police believe that enhanced capacity, technology-driven enforcement and regulatory collaboration will be key to improving trade facilitation and supporting the country’s blue economy ambitions.