Category: Business

  • Binatone offers exciting Black Friday deals

    Binatone offers exciting Black Friday deals

    Global Appliances Nigeria Ltd, Manufacurers of Binatone products in Nigeria has announced exciting offers for its Black Friday Mega Sales. The offer includes amazing discounts across all key supermarkets and leading electronic stores in Nigeria.

    The special promotion runs from November 1st to November 30th 2025, giving customers a full month to enjoy unbeatable prices on a wide range of Binatone products.

    The Managing Director of the company, Mr Prasun Banerjee disclosed that special discounts are available for its teeming customers on energy solutions to kitchen essentials, stressing that “Binatone brings exceptional value and innovation to every Nigerian home this festive season”.

    According to Mr Banerjee, “This year’s Black Friday promotion features exciting offers across multiple categories. Shoppers can enjoy great discounts on stand fans equipped with mosquito-repellent and air-freshness features, including the newly introduced AD 1601 AC/DC Fan, which can be linked to a solar panel for clean, free air.”

    He disclosed that The rechargeable fan range are available in three models with replaceable lithium-ion batteries, recharges in just four hours and provides up to ten hours of cooling while kitchen lovers can buy the KC6000 Yam Pounder/Fufu Maker promises quick, hygienic, and effortless meal preparation.

    Read Also: Digital lending: FCCPC sets January 5 deadline for compliance

     “The air-fryer series, available in three models, requires just a teaspoon of oil to make crispy, tasty, and healthy fries. Binatone’s cool-touch kettles, models CEJ 1799 and CEJ 1700T, come with elegant digital displays and are designed for safety and convenience, Mr Banerjee stated

     “To protect valuable home appliances, Binatone’s power range offers stabilizers in 2 KVA and 5 KVA capacities and surge-voltage protectors in 13 A and 30 A ratings—ideal for air conditioners.

    The company’s newly launched Power Stations, available in 1.8 KVA and 2.4 KVA variants, provide portable, plug-and-play power with solar-charging capability, ensuring reliable backup power for homes, small offices, and outdoor use” he added.

    The Managing Director disclosed that Customers will also find irresistible discounts on Binatone’s dry and steam irons, garment steamers, and microwave ovens that are perfect for everyday household needs. The breakfast-essentials range features pop-up toasters, sandwich makers, and juicers designed to make mornings easier. The high-powered blender collection includes durable, unbreakable jugs capable of smoothly blending hard nuts and beans.

    According to him,  Binatone has also introduced the Tefal Cookware Range which offers premium non-stick pots and pans for healthy cooking, along with Free play solar-powered lanterns and torches to ensure that every home remains bright and energy-efficient.

    “Binatone’s Black Friday celebration is our way of thanking loyal customers for their trust over the years,” Mr Banerjee stated, adding that  “We are bringing quality, affordability, and innovation together—making this season the perfect time to upgrade your home.”

    He stressed that Binatone products come with a two-year warranty, giving customers additional peace of mind and assurance of lasting quality.

    Don’t miss these amazing Black Friday offers, available for a limited time at all major supermarkets, electronic stores, and online platforms across Nigeria

  • Firm sues Parallex Bank over ‘unreleased shipping documents’

    Firm sues Parallex Bank over ‘unreleased shipping documents’

    FHT Mega Express Limited, a Lagos-based equipment, machinery, and logistics firm, has sued Parallex Bank Limited at the Lagos State High Court, Tafawa Balewa Square, over an alleged failure to release shipping documents for imported goods worth €7,310,257.99 despite receiving full payment of N7,154,677,000 to establish letters of credit since 2023.

    The company is seeking a court order to freeze N7.15 billion in the bank’s accounts across Nigeria in interest-yielding instruments pending the substantive suit.Through its counsel, Adedayo Oshodi (SAN), FHT filed a motion ex parte marked ID/AOR/6143/2025 on October 17, 2025.

     In a 41-paragraph affidavit deposed by General Manager Ezekiel Olumi, the company stated it had no prior relationship with Parallex Bank, was never a credit customer, and never took any loan.

    The arrangement, which began in June 2023, was strictly non-borrowing and meant solely for creating letters of credit to pay European suppliers.

    Parallex Bank issued an Indicative Offer of Banking Facilities on June 7, 2023, requiring full naira deposits equivalent to the euro values.

     FHT opened a current account on July 27, 2023, and between July 2023 and February 2024 deposited N7,154,677,000 to fund four LCs tied to Form M numbers: MF20230085253 (€4,750,609.00), MF20230122580 (€839,648.99), MF20230125197 (€502,485.00), and MF20230132545 (€1,720,000.00).The consignments, totaling 30 containers of heavy machinery, arrived between February 2024 and February 2025.

    Read Also: Nigeria urges ECOWAS, Sahel states to deepen collaboration on livestock development

    The bank released documents, including bills of lading, for only one consignment worth €502,485.00 (N434,408,834.68).

     Documents for the remaining 29 containers were withheld. On December 10 and 12, 2024, FHT demanded the release of the documents, but Parallex instead asked for an additional N3,759,024,395.45 to cover exchange rate differentials.

     Due to the missing bills of lading, the Nigeria Customs Service seized and auctioned the uncleared goods.When the matter came up on Thursday before Justice Abdul-Raheem Muyideen, Oshodi (SAN) urged the court to grant the freezing order to preserve the funds, stressing that the N7.15 billion was paid in full for goods purchase.

    The judge declined the ex parte relief, directed that the motion be served on Parallex Bank, and adjourned to Monday, November 18, 2025, for the motion on notice.As of November 14, 2025, Parallex Bank, which upgraded from microfinance to commercial banking status in 2021, has not responded publicly to the allegations.

     The case underscores growing tensions over letters of credit amid Nigeria’s persistent foreign exchange volatility, with the naira falling from about N460/€ in mid-2023 to over N1,600/€ by late 2025.

     FHT Mega Express insists it fulfilled all obligations and seeks justice to recover its funds and address losses from the auctioned consignments.

  • Access Bank tackles SMEs failure with new academy

    Access Bank tackles SMEs failure with new academy

    Access  Bank  has  launched  the  SME  Academy,  a  new  initiative  designed  to  tackle Nigeria’s high rate of small business failures by equipping entrepreneurs with essential skills, knowledge, and resources for sustainable growth.

    The programme was unveiled in Lagos, reinforcing the bank’s long-term commitment to strengthening the SME sector, a major driver of Nigeria’s economic development.

    Speaking   at   the   launch,   Head   of   Retail   Banking,  Access Bank, Olumide   Olatunji,   noted   that   the academy’s introduction in Nigeria follows the successful rollout of a similar programme in Ghana, which led to measurable improvements in SME performance.

    “Given the opportunities within Nigeria’s population and the central role SMEs play in sustaining the economy, it became necessary to bring this initiative home,” Olatunji said.

    Group  Head,   SME  Banking,  Access Bank,  Abiodun Olubitan,   explained that   the  inaugural   edition targets  80   established   business owners   and   is structured  as   a   three-day  intensive training. 

    According to her, the   programme   focuses   on   strengthening   business   structures,   improving financial readiness, and boosting survival rates in a sector where many firms fail within five years.

    Read Also: Digital lending: FCCPC sets January 5 deadline for compliance

    She said: “SMEs contribute over 80 percent to GDP globally, so supporting them is essential. Our research shows that inadequate capital and weak capacity are major reasons businesses collapse. The academy addresses these gaps by providing practical tools entrepreneurs can immediately apply”.

    She added that although the programme does not include grant funding, Access Bank would offer financing opportunities to participants who demonstrate strong business capacity and bankability after the training.

    “Funding is important, but we want to support entrepreneurs who have the capacity to manage it responsibly. The academy helps us build that confidence,” Olubitan said.

    She  also  noted  that  the  SME  Academy would  run  multiple  times  annually, eventually becoming a pipeline for continuous mentorship and engagement.

  • Alert MfB, CrediCorp partner on loan access

    Alert MfB, CrediCorp partner on loan access

    Alert Microfinance Bank (Alert MfB) has partnered with Nigeria Consumer Credit Corporation (CrediCorp) to deepen access to consumer credit across Nigeria.

    In a statement, Alert MfB said that CrediCorp will be leveraging its funding capacity and national consumer credit framework, while Alert MfB brings its robust operational infrastructure, including a strong branch network, disciplined risk management policies, human capacity, and a proven core banking system.

     “Together, we are creating a sustainable credit delivery channel that supports the federal government’s vision of expanding consumer finance as a driver of economic growth,” the statement said.

    The report said that The AlertXpress Credit Card remains a revolving credit facility designed to provide Nigerians with convenient and affordable access to credit.

     “It is a Verve-branded card powered by Interswitch, which ensures seamless switching and nationwide acceptance. The product is fully integrated into our core banking and risk management systems, allowing for real-time credit decisions and efficient repayment monitoring. What sets it apart is that it’s backed by institutional funding from CrediCorp, which makes it scalable and sustainable,” it said.

    It further stated that financially, the partnership enhances our lending capacity without overstretching our balance sheet.

    Read Also: Nigeria urges ECOWAS, Sahel states to deepen collaboration on livestock development

     “By accessing CrediCorp’s wholesale funding, we can increase our consumer credit portfolio at a lower cost of funds, improving our asset mix and return on equity. Operationally, it allows us to leverage our existing 10-branch network across Lagos, our digital banking channels, and our human capital to efficiently originate, manage, and recover credit. Our strong risk management framework ensures asset quality remains high, even as we scale,” it said.

    On Alert MfB’s performance, the bank explained that as of October 2025, Alert Microfinance Bank’s total assets stood at N26.60 billion, while our Gross Loan Portfolio (GLP) reached N20.28 billion.

     “Our Year-to-Date (YTD) loan disbursement is N25.83 billion, reflecting efficient capital deployment. With 10 branches strategically located across Lagos and a Portfolio at Risk (PAR 1-Day) well below 5%, significantly under the CBN benchmark, we continue to demonstrate sustainable growth and asset quality anchored on sound corporate governance,” it said.

    On the benefit of the credit card, it said: “The impact will be multidimensional. Firstly, it will expand access to formal consumer credit for salaried workers and small business owners who currently rely on informal sources. Secondly, it will promote financial discipline through structured repayments and credit history building. Over time, initiatives like this will help deepen the credit market, strengthen financial inclusion, and boost GDP growth”.

    It explained that the bank’s  loan portfolio is well diversified, covering most sectors except those on our exclusion list.

    “We currently offer the Business Boost Loan for MSMEs, Asset Finance for equipment acquisition, EduFinance for education-related needs, the WASH Loan for water, sanitation, and hygiene projects, and the Green Loan for environmentally sustainable initiatives. Through strategic partnerships such as Green Bucks, we finance solar energy systems to support Nigeria’s renewable energy transition, and through our collaboration with Aqua for All, we are deepening our impact in the WASH sector. These products underscore our commitment to inclusive, impact-driven, and responsible lending,” it added.

    Continuing, it said: “Our medium-term focus is on scale, technology, and diversification. We plan to expand our consumer and MSME lending portfolios, strengthen our digital platforms, and increase our presence beyond Lagos. The partnership with CrediCorp is the foundation for broader collaborations aimed at unlocking consumer credit across Nigeria. Ultimately, our goal is to remain a leading microfinance institution that combines social impact with sound financial performance”.

  • PalmPay executes live transaction on NPS

    PalmPay executes live transaction on NPS

    In a significant move for Nigeria’s digital economy, PalmPay, in collaboration with Wema Bank, completed the first live transaction on the Nigeria Inter-bank Settlement System (NIBSS) National Payment Stack (NPS), a next-generation infrastructure designed to redefine how money moves across the country.

    The first live transaction marks a new era in Nigeria’s financial innovation journey and reinforces PalmPay’s role as a trusted pioneer in the payment ecosystem thus demonstrating its leadership in driving the nation’s payment revolution.

    This achievement rides on the back of the brand’s growing reputation as a fintech innovator, following recent global recognitions as Financial Times Africa’s Fastest-Growing Companies 2025 and CNBC and Statista’s Top 300 Global Fintech Companies for two consecutive years (2024 and 2025) for its impact, scale, and commitment to inclusive growth across emerging markets.

    A milestone that redefines the future of payments, the NPS powered by Nigeria Instant Bank Settlement System (NIBSS), builds on the success of the NIP infrastructure, introducing greater speed, interoperability and real-time settlement across the financial ecosystem. Designed to meet international standards, NPS enhances cross-border payment capabilities while introducing more advanced security features, including digital signatures and multi-factor authentication to safeguard users and institutions.

    Read Also: Digital lending: FCCPC sets January 5 deadline for compliance

    Beyond its technical advancements, the NPS sets a new benchmark for Nigeria’s leadership in Africa’s finance landscape. Through the ISO 20022 global messaging standards, Nigeria is now positioned as a regional hub for seamless and secure cross-border transactions.

    Commenting on the landmark achievement, the Managing Director/Chief Executive Officer of the NIBSS, Premier Oiwoh, said: “We commend PalmPay for this historic achievement as one of the key collaborators in executing the first successful transaction on the NPS. This milestone reflects our shared commitment to advancing a faster, safer and more interoperable payment ecosystem for Nigeria. The NPS represents the next frontier of innovation designed to power inclusion, efficiency and growth across the financial industry. We look forward to more institutions coming on board as we collectively shape the future of payments in Nigeria and across Africa.”

    Also speaking, Group Chief Commercial Officer at PalmPay, Jaipei Yan, said: “This achievement is a win for Nigeria and Nigerians. PalmPay is all about providing smarter banking solutions. Since our launch six years ago, we have focused on bridging the gap between innovation and everyday financial inclusion. It was an absolute delight to work with NIBSS and other stakeholders on this remarkable milestone.”

    By pioneering this milestone, PalmPay not only strengthens its credibility but also reinforces its alignment with the Central Bank of Nigeria (CBN’s) drive toward a digital, connected economy. From ranking among the world’s leading fintech brands to executing Nigeria’s first live transaction on a national payment infrastructure, PalmPay is proving that innovation, when purpose-driven, can transform economies.

    Looking ahead, PalmPay aims to accelerate its vision of a connected, digital, and financially inclusive Africa, combining global standards with local relevance to build technology that truly empowers people and businesses.

  • Zojapay relaunches payment platform

    Zojapay relaunches payment platform

    Zojapay, a subsidiary of ITH Holdings, has relaunched its payment platform with a refreshed identity and expanded capabilities, positioning it as Nigeria’s leading reward-driven solution for everyday bills, subscriptions, and essential digital services.

    Zojapay said the platform, powered by Providus Bank and Xpress Wallet, delivers greater value to users by transforming routine transactions into rewarding experiences through cashback, discounts, subscription bundles, and improved financial services. The relaunch was announced during the opening of ITH Holdings’ newly redesigned office in Gbagada.

    Announcing the relaunch, Chief Executive Officer of ITH Holdings, Olusegun Enitan Dada, stated that the renewed Zojapay reflects the Group’s commitment to building digital solutions that create value for everyday consumers. According to him, the evolved platform represents a strategic step toward improving financial access, convenience, and savings for individuals and businesses across Nigeria.

     “Zojapay has been redesigned with the consumer at the center,” Mr. Dada said. “We are transforming routine payments into opportunities for users to save, earn, and access more value. This relaunch reinforces our mission to build technology that simplifies life, empowers people financially, and strengthens the digital economy.”

    Read Also: Nigeria urges ECOWAS, Sahel states to deepen collaboration on livestock development

    The new Zojapay introduces an enhanced reward system where users receive cashback, discounts, and exclusive benefits each time they pay for electricity, cable TV, internet, airtime, or other everyday services. The company has also expanded its capabilities to include a comprehensive subscription offering that allows users to seamlessly access packages for internet and data bundles, streaming platforms, household essentials, and a variety of digital services within a single app. This positions Zojapay as an integrated platform that simplifies bill payments, subscription management, and financial planning while creating consistent value for users.

    In addition, Zojapay is rolling out improved loan features that provide quick and flexible access to funds, enabling users to meet urgent financial needs without complicated processes. These enhancements are designed to address the increasing cost of essential services and the rising demand for convenient financial support.

    Commenting on the relaunch, Mr. Ekundayo Kiyesi, Senior Growth and Partnership Manager, highlighted the platform’s focus on user experience and everyday impact.

     “People are paying more than ever, yet feeling less rewarded,” he said. “With the new Zojapay, users not only pay their bills conveniently but also receive value back in the form of cashback, discounts, and exclusive deals. Our expanded subscription bundles allow them to secure great prices for services they use every day, and our flexible loan offerings ensure they can access support when they need it. Zojapay has become a smart companion built around real-life needs.”

    The company reiterated that the platform was designed for simplicity, reliability, and security, ensuring users never miss important payments or valuable deals. The upgraded experience consolidates rewards, financial support, and daily transactions into a single intuitive interface. With its broadened features and renewed focus on customer value, the platform aims to deepen its footprint in Nigeria’s digital payments ecosystem.

  • Nigeria urges ECOWAS, Sahel states to deepen collaboration on livestock development

    Nigeria urges ECOWAS, Sahel states to deepen collaboration on livestock development

    Nigeria has urged the Economic Community of West African States (ECOWAS) and Sahel countries to take deliberate steps in advancing livestock development programmes to boost productivity across the region.

    The call came as ECOWAS opened discussions on strategies to improve agricultural productivity and strengthen the resilience of agro-pastoral systems in West Africa and the Sahel.

    The regional body held a two-day Policy Dialogue Workshop in Abuja to evaluate the results of the PRISMA Project and align them with agricultural priorities for the sub-region.

    Speaking at the opening session, Mr. Peter Alike, Director, Technical Office of the Permanent Secretary, Federal Ministry of Livestock Development, said the livestock sector remains underdeveloped in West Africa and the Sahel, requiring intentional action and regional cooperation to transform it.

    He stressed that, “Deliberate action is needed because the government is aware that livestock production in this country—and indeed across West Africa and the Sahel—is still at a very rudimentary stage and far below the required level.”

    “We cannot do it alone, and you cannot do it alone. If we put our hands together, then we will be able to really bring our competitiveness out to increase productivity. 

    “But this is not the kind of thing that you want to do by yourself. The first thing to be done is collaboration. This is the time that we need each other the most.” 

    On Nigeria’s deliberate plan to improve the contribution from the sector, Alike said that the sector’s current contribution to the nation’s Gross Domestic Product (GDP) is in the region of $32 billion. 

    He further disclosed that Nigeria’s strategic plan for the livestock sector, which runs from 2025 to 2030, aims to increase its GDP contribution from the current $32 billion to between $74 billion and $94 billion.

    He said, “We have a strategic plan which is going to run from 2025 to 2030. And we have a basket of livestock contribution in GDP, which is currently at about $32 billion.

    “And our mission is, in the next 10 years, we want to take, there is a baseline, a base anticipation of $4 billion, and then, of course, a high expectation of about $9-$4 billion. We believe that if you actually look at the entire value chain of livestock in Nigeria here today, we are far in excess of that. So we are even trying to recapture our actual contribution.

    “So it’s for us, about where you are and where you want to be by this time. And if we do that, then we will be able to feed ourselves well. If we can feed ourselves well, we will be able to extend into the West African region.”

    He explained that Nigeria plans to develop the livestock industry for national food security, job creation, and rural income generation.

    Mr. Alike said the creation of a dedicated Ministry of Livestock Development by President Bola Ahmed Tinubu reflects the government’s deliberate action towards strengthening the livestock sub-sector and driving national development.

    Mr. Alike also underscored the importance of collaboration between Nigeria, ECOWAS, and other regional actors in achieving shared agricultural and food security goals.

    In his remarks, the Acting Executive Director of the Regional Agency for Agriculture and Food (ARAA), Mr. Konlani Kanfitin, reaffirmed ECOWAS’ commitment to advancing livestock development and research collaboration in the region.

    He expressed appreciation to the European Union (EU) and the Spanish Cooperation Agency (AECID) for co-financing the PRISMA Project (Research and Innovation for Productive, Resilient, and Healthy Agro-Pastoral Systems in West Africa), which promotes climate-adapted, research-based innovations in the livestock sector.

    According to him, the PRISMA Project aligns with ECOWAS’ regional agricultural policy (ECOWAP), which seeks to transform agricultural and food systems across the region.

    Mr. Kanfitin emphasised the importance of policy dialogue as a lever for coherence, strategic orientation, participatory governance, and regional integration.

    He said, “The livestock sector occupies a central place in the economies of our member states. It contributes to food security, job creation, and the income of millions of rural households.

    “This policy dialogue workshop constitutes a key moment for reflection and collective action; it is intended as a space for discussions and decision-making to improve the policy environment for research and innovation to increase the productivity and resilience of agro-pastoral systems in West Africa and the Sahel,” he noted.

    In his remarks, Agricultural Engineer and PRISMA Researcher, Dr. Fernando Escribano, highlighted the project’s focus on tackling aflatoxins in livestock feed.

    He described aflatoxins as metabolic byproducts of fungi and bacteria that can grow in the field and during storage when high moisture and temperature conditions allow, stressing the need for standard methods to control their presence in livestock feed.

    “This is the scenario that we had when we started this project. We decided to focus because aflatoxins don’t have borders. Environmental impact doesn’t have borders. So, we decided to go with a harmonization exercise. We need to harmonize and define what equality is,” Dr. Escribano explained.

    “We need to avoid the presence of aflatoxins in our feeds. We need to know how to sample to detect aflatoxins. We need to know how to measure aflatoxins in a relatively simple way, but in a way that we all agree can be done,” he added.

    ECOWAS member states held a two-day Policy Dialogue Workshop for the Valuation of PRISMA Project Results in the Regional Agricultural Priorities of West Africa and the Sahel, in Abuja.

    PRISMA (West Africa)-A research and innovation project that focused on regional agricultural priorities, particularly livestock development, in the region.

    The PRISMA policy dialogue workshop was organized under the framework of ECOWAS’s regional agricultural policy (ECOWAP) 

    The event was co-financed and technically supported by the European Union (EU), the Spanish Agency for International Development Cooperation (AECID), Luxembourg Cooperation, Belgian Cooperation, and Spanish Cooperation.

    The project aims to produce several results of research and innovation that take into account regional priorities in terms of productivity and competitiveness of value chains, food security, education, youth employment, climate change, and regency.

  • Sahara Foundation inaugurates first solar-powered RVM recycling hub

    Sahara Foundation inaugurates first solar-powered RVM recycling hub

    Sahara Group Foundation, the corporate social impact arm of Sahara Group, has inaugurated its 16th Sahara Go-Recycling Hub in Lekki, Lagos State, reaffirming its commitment to sustainable waste management, environmental protection, and community empowerment.

    The new hub expands the Foundation’s recycling footprint and builds on the success of 15 existing hubs across Lagos. Notably, it is the first Sahara Go-Recycling Hub to feature a solar-powered Reverse Vending Machine (RVM), a significant step toward integrating clean energy and technology into community recycling solutions.

    The Sahara Go-Recycling initiative promotes a circular economy by reducing waste, enhancing resource recovery, and empowering residents with opportunities to earn income from recyclables.

    Speaking at the commissioning, Director, Sahara Group Foundation, Chidilim Menakaya, said, “The launch of the Lekki Go-Recycling Hub goes beyond environmental responsibility; it represents a new path for innovation, economic opportunity, and community resilience. By integrating clean energy solutions like the solar-powered Reverse Vending Machine, we are demonstrating how innovation can strengthen environmental responsibility while improving quality of life. This hub is a testament to what is possible when we combine commitment with action, and it sets the stage for even greater impact across the communities we serve.”

    The Executive Director of Sahara Group, Moroti Adedoyin-Adeyinka, remarked, “The success of the Lekki Sahara Go-Recycling Hub is a powerful reminder that sustainable change happens when communities, technology, and purpose come together. This hub is not just collecting recyclables; it is inspiring new habits, creating economic value, and proving that cleaner, greener cities are possible when we all play our part. We are proud of what this hub represents and even more excited about the impact it will continue to make across Lagos and beyond.”

    The CEO of Eco Barter, Rita Idehai, added, “Our partnership with the Sahara Group Foundation on the Lekki Go-Recycling Hub demonstrates the power of collaboration in accelerating sustainable change. Together, we are creating a system that rewards responsible disposal, supports local livelihoods, and brings technology-driven recycling closer to the community. We are proud to work with a partner that shares our vision for a cleaner, smarter, and more circular future for Lagos.”

    Read Also: Edun, CBN hail S&P’s upgrading of Nigeria’s global rating to positive

    Similarly, the Board Trustee, Sahara Group Foundation, and MD Sahara Power Group, Dr Anthony Youdeowei, commended the collaboration between Sahara Group Foundation, Asharami Synergy, the Sahara Group 2025 Graduate Management Trainees, and Eco Barter, describing the hub as reflective of our belief that sustainability must be practical, accessible, and community-driven.

    Representing the 2025 Sahara Group Graduate Management Trainees, Elushade Oluwatumininu stated, “As Graduate Management Trainees, being part of the Lekki Go-Recycling Hub project through our PSCR project has been a meaningful way to live out Sahara’s sustainability values. Seeing the hub’s impact from promoting recycling habits to empowering the community reinforces how small actions can drive real change. We’re proud to be part of this initiative.”

    Since its inception, the Sahara Go Recycling Initiative has collected over 650 tonnes of recyclable waste and facilitated payouts exceeding ₦55 million to beneficiaries.

    The programme has positively impacted more than 1200 households, creating alternative income streams, supporting livelihoods, and reinforcing environmental sustainability.

    Reiterating Sahara Group Foundation’s vision, Menakaya added that the Sahara Go Recycling project is creating a ripple effect across Lagos, enabling households and communities to see value in responsible waste management. Through strategic partnerships, the foundation, he noted, is amplifying impact and building sustainable ecosystems for future generations.

    “At Sahara Group Foundation, we believe in EXTRApreneurship, building sustainable ecosystems through collaborations that inspire change. With Ijede now part of our network, we are one step closer to a truly circular economy in Nigeria,” she concluded.

    Sahara Group Foundation plans to expand the Go Recycling Initiative to more communities in Lagos and across Africa, reinforcing its mission of “Building Sustainable Communities through EXTRApreneurship.”

  • Delborough Lagos appoints former OPEC President Kachikwu as board member

    Delborough Lagos appoints former OPEC President Kachikwu as board member

    The Delborough Lagos has appointed a former OPEC and APPO president, former Executive Vice Chairman Exxonmobil Africa, former Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC) and former Minister of Petroleum, Prof Emmanuel Ibe Kachikwu into its Board.

    Hailed from Delta State, Kachikwu is a First Class Graduate of Law from the University of Nigeria Nsukka (UNN) and the Nigerian Law School, where he was best graduand and multiple awards winner in both Institutions. He also has a Masters and Doctorate Degree in Law from Harvard Law School USA, with distinctions.

    Loaded with wealth of experience, Kachikwu worked as a General Counsel of Texaco Upstream and Downstream in Nigeria, and serving as Visiting Professor to 10 global universities including Harvard and consulting with some African governments.

    The Harvard trained think-tank was inaugurated into the Board by the Board Chairman, His Royal Majesty Nnaemeka Alfred Ugochukwu Achebe CFR, mni the Obi of Onitsha during the annual board meeting recently held at The Delborough Lagos.

    Also appointed and inaugurated as Board Secretary was a renowned Senior Advocate of Nigeria (SAN), Barr. Kelechi Nwaiwu.

    In his remarks, the Obi of Onitsha Igwe Achebe welcomed the new members on board and noted that “The Delborough Lagos is the only corporate body with a Senior Advocate of Nigeria (SAN) as Board Secretary.”

    Kachikwu said The Delborough Lagos has solidified its position as a premier destination in the Africa, marking two successful years of operation.

    The brand’s commitment to excellence is evident in its outstanding service, which has earned it a loyal clientele and multiple awards.

    “I have had the pleasure of hosting my business visitors here, and I’ve also attended several Sunday Brunch functions. What truly sets Delborough Lagos apart is its people – the staff’s dedication to excellence is remarkable.

    Read Also: Nairametrics unveils Nigeria Megacorp Index

    “The brand’s impressive performance is a testament to its unwavering focus on delivering exceptional experiences. With its unique blend of luxury, comfort, and professionalism, Delborough Lagos has indeed carved a niche for itself in the African hospitality scene,” the former OPEC President said.

    Other noble and highly respected board members include His Royal Majesty Oba Abdulwasiu Omogbolahan Lawal CON (Abisogun II, Oniru of Iruland); Usman Alkali Baba CFR; Arc. Dns. Yemisi Suswam PhD, FNIA; Mrs Olajumoke Benson; H.E Dr. Valentine Ozigbo; Matt Aikhionbare, OON and Dr. Linus Idahosa.

    The Delborough Lagos was recently named the “Best New Luxury African Hospitality Brand” by the prestigious Seven Stars Award.

  • Digital lending: FCCPC sets January 5 deadline for compliance

    Digital lending: FCCPC sets January 5 deadline for compliance

    The Federal Competition and Consumer Protection Commission (FCCPC) has set Monday, 5 January 2026, as the deadline for full compliance with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025.

    According to a press statement by the Commission’s Director of Corporate Affairs, Ondaje Ijagwu, “The Regulations came into effect on 21 July 2025 under the Federal Competition and Consumer Protection Act (FCCPA) 2018. It aims to promote fairness, transparency, and accountability across Nigeria’s growing digital lending market.”

    To support operators in meeting the required standards, the Commission has issued an additional instrument, the Guidelines on the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025, made under Sections 17 and 163 of the FCCPA.

     This document provides practical direction for lenders and intermediaries, explains the documentation required, and introduces updated Forms 1 and 3 based on feedback received from stakeholders.

    Applicants with pending submissions may provide any additional information required under the new guidelines without waiting for a formal request. The Commission will continue to process applications promptly and maintain a transparent review process.

    Read Also: Nairametrics unveils Nigeria Megacorp Index

    The Executive Vice Chairman of the FCCPC, Mr. Tunji Bello, stressed the importance of meeting this timeline. He explained that “full compliance is not only a legal requirement but an important step in protecting consumers and ensuring that the sector continues to grow in a fair and responsible manner. Operators have had ample time to adjust to the Regulations and the additional guidance now provided. We expect all obligations to be met before the deadline.”

    All affected operators, including lending platforms, service partners, and intermediaries, are expected to complete their compliance obligations by 5 January 2026. Enforcement will begin immediately after the deadline. Measures may include restricting non-compliant entities from operating, directing partners or platforms to cease dealing with them, and applying other sanctions permitted under the law.

    Copies of the Guidelines, Forms, and Frequently Asked Questions (FAQs) are available on the Commission’s website at www.fccpc.gov.ng, including through enquiries at FCCPC offices nationwide, or via other official channels provided on the website.

    The FCCPC is committed to promoting responsible digital lending practices that protect consumers and support confidence in the financial technology sector.