The Nation Newspaper

Category: Saturday Magazine

  • Breaking the cycle of mother-to-child HIV transmission

    Breaking the cycle of mother-to-child HIV transmission

    •Nigeria has recorded remarkable progress in the fight against mother-to-child HIV transmission through expanded access to ART and improved testing and counselling during pregnancy. However, stigma, poor healthcare infrastructure and treatment gaps continue to hinder the country’s goal of eliminating paediatric HIV infections by 2030.

    The battle against HIV/AIDS has seen remarkable progress over the past few decades, yet one of the most pressing challenges remains the prevention of mother-to-child transmission (PMTCT) of the virus. The transmission of HIV from an HIV-positive mother to her child during pregnancy, childbirth, or breastfeeding has been one of the major contributors to paediatric HIV infections. However, with advancements in medical science and increased access to antiretroviral therapy (ART), the risk of MTCT has been dramatically reduced. Despite this progress, significant barriers still exist, particularly in low- and middle-income countries (LMICs), where access to healthcare remains uneven and stigma surrounding HIV is rampant.

    Globally, mother-to-child transmission of HIV accounts for approximately 90% of new HIV infections in children, making it one of the primary targets in the fight against the epidemic. According to the World Health Organisation (WHO), without any intervention, the risk of transmission is as high as 45%. Yet, with ART, early detection and safe delivery practices, this risk can be reduced to below 5%. In some cases, the risk of transmission has even been brought down to zero, a breakthrough that has given hope to millions of women living with HIV around the world.

    MTCT primarily occurs in three ways: during pregnancy through the placenta, during delivery through exposure to maternal blood and bodily fluids, and through breastfeeding. The latter remains a particularly significant source of transmission, especially in regions where access to safe alternatives to breast milk is limited. Experts say breastfeeding can account for up to 35% of paediatric HIV infections in high-prevalence areas, making it an essential area for intervention in the global fight against MTCT. The use of ART has dramatically reduced the transmission of HIV from mother to child, but it is not without its challenges. Studies have shown that when pregnant women with HIV begin treatment early and maintain an undetectable viral load, the likelihood of transmitting the virus to their child drops significantly. Furthermore, when ART is also provided to the infant after birth as post-exposure prophylaxis (PEP), this risk is further reduced.

    Despite these medical advancements, there are still several challenges to preventing MTCT. These include limited access to ART, low awareness and education levels about PMTCT among pregnant women, and the stigma associated with HIV, which often prevents women from seeking testing and treatment. The socio-economic barriers, such as poverty and lack of education, also contribute to the difficulties women face in accessing life-saving treatments.

    Nigeria’s HIV landscape: A high burden of MTCT

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    Nigeria, as the most populous country in Africa, carries a heavy burden of the HIV/AIDS epidemic. According to UNAIDS, Nigeria accounts for approximately 9% of the global burden of HIV, with an estimated 1.9 million people living with HIV in the country. In 2021, about 36,000 children were newly infected with HIV, most of them through mother-to-child transmission. The country is one of the 20 high-burden countries where most new paediatric HIV infections occur. The risk of MTCT in Nigeria remains a critical challenge despite global efforts to address the issue. A significant number of pregnant women living with HIV are still not receiving ART during pregnancy and childbirth. A major barrier to addressing MTCT in Nigeria is access to healthcare, especially in rural and underserved areas where health infrastructure is inadequate, and there is a shortage of trained healthcare providers. Additionally, the high levels of HIV-related stigma, coupled with misinformation, further complicate the situation. For many women, the fear of discrimination and rejection leads to delays in seeking HIV testing and treatment, which increases the risk of transmitting HIV to their children.

    Nigeria, through the National Agency for the Control of AIDS (NACA), has made significant strides in addressing HIV prevention, care, and treatment, particularly in preventing mother-to-child transmission. NACA has worked in collaboration with international organisations such as the United Nations Programme on HIV/AIDS (UNAIDS), UNICEF, and the World Health Organization (WHO), as well as local civil society organisations, to expand the reach of HIV services to pregnant women. According to Dr Temitope Ilori, Director-General of NACA, the Nigerian government, in line with WHO guidelines, has committed to eliminating mother-to-child transmission of HIV by 2030. This ambitious goal is part of Nigeria’s broader HIV/AIDS strategy, which includes increasing the number of pregnant women who are tested for HIV, improving ART coverage for HIV-positive mothers, and providing post-exposure prophylaxis (PEP) to infants born to HIV-positive mothers.

    One of NACA’s key initiatives has been the Prevention of Mother-to-Child Transmission (PMTCT) Programme, which aims to provide comprehensive HIV services to pregnant women. This includes HIV testing, counselling, the provision of ART, and safe delivery practices. By 2020, over 70% of HIV-positive pregnant women in Nigeria were receiving ART, a significant improvement from previous years. However, the challenge remains to ensure that the remaining women are also reached and provided with the necessary care. In addition to ART, NACA has worked with health ministries at the state level to improve the quality of antenatal care services. The agency also launched the National HIV Prevention Programme, which focuses on outreach campaigns to encourage more women to get tested and start ART early in pregnancy. In particular, the programme has targeted communities with high HIV prevalence and low access to healthcare, working to reduce the stigma associated with HIV and encouraging men and women to seek care together.

    Antiretroviral therapy (ART) is the key intervention in preventing mother-to-child HIV transmission (MTCT). In Nigeria, the government provides free ART to HIV-positive pregnant women in both public and private healthcare settings. ART suppresses the viral load, making the virus undetectable in the mother’s system when taken correctly, reducing the risk of transmission. The goal is for every HIV-positive pregnant woman to start ART early in pregnancy and continue throughout breastfeeding. While this strategy has reduced MTCT rates, challenges in ART access and adherence persist, especially in rural areas.

    NACA, in partnership with local and international stakeholders, has also implemented a nationwide HIV testing and counselling programme to detect HIV early in pregnancy. Early diagnosis is critical because it allows healthcare providers to initiate ART as soon as possible, thereby lowering the chances of MTCT. Despite these efforts, there remain significant barriers to the uptake of HIV testing, particularly in rural areas. Cultural beliefs, misinformation about HIV, and a persistent stigma around the disease are major obstacles. Many pregnant women fear the social ramifications of testing positive, which dissuades them from seeking HIV screening. NACA has expanded testing campaigns and created greater awareness about the importance of early detection, but the challenge of overcoming stigma remains a major hurdle.

    Another important intervention to reduce the risk of MTCT is preventing transmission through breastfeeding. In Nigeria, breastfeeding is common and culturally significant, but it also poses a significant risk of HIV transmission if the mother is living with the virus. The Nigerian government, following WHO guidelines, encourages HIV-positive mothers to exclusively breastfeed their infants for the first six months of life while on ART. ART has been shown to significantly reduce the likelihood of HIV transmission through breast milk, and breastfeeding also protects the child from other infectious diseases. However, the recommendation is complex in a country where access to safe alternatives to breast milk is limited, especially in rural areas where clean water and safe infant formula may not be readily available. Thus, the government’s strategy includes reinforcing the message that HIV-positive mothers on ART can safely breastfeed, balancing the need for infant nutrition with the goal of reducing MTCT.

    A critical element in Nigeria’s strategy is community engagement and awareness campaigns. NACA and other stakeholders, including non-governmental organisations (NGOs) like the Society for Family Health (SFH), have invested heavily in reaching out to communities through health education programmes. These programmes aim to reduce the stigma surrounding HIV and encourage more pregnant women to get tested and seek treatment. Peer educators, community health workers, and media campaigns are used to disseminate information about the benefits of early HIV testing, ART, and the importance of adherence to treatment throughout pregnancy and the breastfeeding period. Through these community-based initiatives, the government seeks to normalise HIV testing and treatment, making it part of routine antenatal care and encouraging men and women alike to seek HIV services.

    In addition to these preventive measures, post-exposure prophylaxis (PEP) for infants born to HIV-positive mothers plays a crucial role in preventing MTCT. PEP involves giving newborns a short course of ART for the first six weeks of life, which reduces the likelihood of HIV infection in the child. This intervention is especially important in situations where the mother may not have received full ART coverage during pregnancy or childbirth. PEP has proven highly effective in preventing HIV transmission, and its use is recommended by both the Nigerian government and international health agencies like WHO. However, ensuring that all HIV-positive mothers have access to PEP for their infants remains a challenge, particularly in areas where healthcare access is limited.

    To address this, NACA has collaborated with international donors to expand services to hard-to-reach areas, ensuring that more pregnant women have access to HIV testing, ART, and post-natal care. The government has also sought to improve the availability of skilled birth attendants and reduce maternal and child mortality associated with HIV. However, much more needs to be done to make healthcare accessible to all, regardless of location or income level. Despite the success of these interventions, Nigeria still faces considerable challenges in its fight against MTCT. HIV-related stigma continues to be a significant barrier that prevents many women from seeking care. Even though there have been efforts to reduce the stigma through community engagement and media campaigns, the social consequences of disclosing an HIV-positive status—ranging from fear of rejection to discrimination—remain powerful deterrents for women. In some cases, this stigma extends to healthcare providers themselves, who may be reluctant to offer adequate care to HIV-positive patients. This creates a cycle where women avoid seeking HIV testing and treatment, thereby increasing the risk of MTCT.

    Additionally, while ART access has expanded in Nigeria, there are still gaps in the availability and consistency of care. Despite free ART programmes, many women in rural areas struggle to access medications due to infrastructure deficiencies and transportation challenges. Even when ART is available, adherence to treatment is an ongoing concern, especially after childbirth. Some women discontinue ART after delivery, leaving them and their children vulnerable to HIV transmission through breastfeeding or other means. The path to eliminating mother-to-child transmission of HIV in Nigeria by 2030, as envisioned by global health bodies and the Nigerian government, is fraught with challenges but also marked by significant progress. Achieving this goal requires further expansion of ART access, improved healthcare infrastructure, and ongoing efforts to tackle stigma. Increasing awareness through education campaigns, improving the availability of healthcare workers, and ensuring that both mothers and infants continue to receive the care they need after delivery are all essential components of this strategy.

    If Nigeria is to achieve its goal of eliminating MTCT by 2030, the government must continue to prioritise HIV prevention efforts and address the systemic barriers that prevent women from accessing the care  they need. Sustained investment in healthcare, coupled with community-based outreach and greater focus on post-natal care, will be essential in moving towards a future where no child is born with HIV. With continued commitment from government agencies, international partners, and local communities, Nigeria can break the cycle of HIV transmission and build a future free from paediatric HIV infections.

  • How mothers induce obesity in their babies with ‘organic weight gain foods’

    How mothers induce obesity in their babies with ‘organic weight gain foods’

    A starkly practice by mothers exposing their babies, infants to excessive fat accumulation at their growing stage has raised the risk of obesity. The obsession for rolls of fat on the legs, arms and chins of babies by their mothers has raised concerns. ALAO ABIODUN examines the new dietary habit and the danger it poses for the infants.

    Ever imagined growing up to be obese and struggling with your weight because your mother likes chubby babies? Mrs Adetoyin, a 35-year-old mother of twins, was all smiles as she watched her two chubby babies waddling around. She believes that many mothers want chubby babies to make the point that their babies are good-looking and even called the popular nick-name “orobo” as an indication that they are well fed, hence the decision to artificially induce their babies’ foods to increase their sizes.

    Adetoyin said: “This is peculiar to our society where we celebrate chubby babies! As a matter of fact many mothers do not believe a baby can be overweight or obese.

    “They actually say of such babies in local dialect: “Omo yen lomi lara, pelu eke re” loosely translated as “the baby is well-endowed with chubby cheeks”.

    Overweight and obesity are defined as abnormal or excessive fat accumulation that presents a risk to health. Just like adults, babies come in various sizes and shapes. According to health practitioners, babies should ideally weigh about 2,500g or more at birth. Birth weight is a vital indicator of foetal and neonatal health.

    For many babies, this is natural baby fat that will begin to shed as he or she becomes more mobile.  But there is growing concern about inducing obesity among babies, which could be a precursor for being overweight or obese later in life. Every baby grows at their own rate. Keep in mind that a baby may not gain weight or grow every week.

    The factors that are known to influence a baby’s weight at birth include duration of pregnancy and maternal characteristics like age, parity (the number of times a woman has given birth) and illness, as well as adverse environmental exposures.

    As a first-time mother, Mrs. Nkem relieved her experience with breastfeeding her baby, but for her, the breastfeeding process was uncomfortable. Worried that her baby might not be getting enough to eat, Mrs. Nkem decided to induce the baby’s diet with Cyproheptadine hydrochloride, not knowing it could be unhealthy for her baby’s health and nutrition.

    Some local mothers use cyproheptadine known in local parlance as maa wu (get swollen) to ensure their babies are fat. The drug is not meant for that purpose yet used by many mothers because it has an “appetite-stimulating” side-effect.

    Cyproheptadine hydrochloride, a first-generation antihistamine, has shown weight gain in patients as it has appetite stimulation properties. Medically, a user is required to consult a doctor and get a prescription if there’s a need to increase one’s appetite. But practitioners have advised against consuming cyproheptadine for this purpose without a prescription.

    Today, the quest by many mothers to get what they describe as the near-perfect weight gain for their babies is fueling a fast-growing organic weight gain industry with medical practitioners warning that this could lead to a surge in cases of obesity in no distant future.

    Obesity has emerged as one of the most serious public health concerns worldwide. Recent estimates suggest that more than 500 million adults are obese worldwide, and nearly four million individuals die annually due to high body mass index (BMI).

    Excess BMI is a major risk factor for cardiovascular disease (mainly heart disease and stroke), diabetes, musculoskeletal disorders (especially osteoarthritis – a highly disabling degenerative disease of the joints), and some cancers (including endometrial, breast, ovarian, prostate, liver, gallbladder, kidney, and colon). The risk for these non-communicable diseases increases with increase in BMI.

    In the 2021 Global Nutrition report, data from Nigeria shows how much progress the country has made towards achieving the global nutrition targets. Of the 13 targets, Nigeria has made ‘some progress’ in achieving four targets while the country is reported to be ‘off-course’ on seven targets.

    It is estimated that 15.7% of adult women (aged 18 years and above) and 5.9% of adult men are obese. However, the prevalence of obesity in Nigeria is lower than the regional average of 20.7% for women and 9.2% for men.

    Enter organic weight gain for babies

    Globally, majority of overweight children are from high income countries. But some low income countries are starting to have problems with overweight. Many obese children become obese adults especially if one or both parents are obese.

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    Recently, the so-called “organic” weight-gain pap for babies sparked outrage and deep concern among Nigerians, urging the National Agency for Food and Drug Administration and Control (NAFDAC) to probe the food product. The product, which promises miraculous weight gain for infants, has been subjected to strong scrutiny by medical practitioners who have found them harmful to babies’ nutrition and growth.

    The social media blogosphere is rife with different e-vendors springing up and offering all kinds of services including ‘organic’ skin lightening options for babies, weight gain for babies and many others.

    To many of these organic weight gain makers, it does not matter the ingredients of the food or pap, they already have an army of prospective customers who are easily swayed by pictures and visuals of before and after moments of alleged patrons of their products.

    But investigations revealed that while some of these products give immediate solution to the weight problems their clients may have, they sometimes do more harm than good in the long run.

    These sellers post babies weight transformation on their social media handles including Instagram and TikTok, prompting their fans to enquire about the products they applied and thus pushing many of such fans into the hands of these online organic weight gain makers. The experience has left many of them with regrets.

    The term “organic” refers to how certain foods are produced. Recent epidemiological studies have explored the association between organic food consumption and the risk of obesity. Nutritionally, organic induced meals significantly impact on one’s growth and health.

    Pap, also widely known as akamu, is a traditional West African food made from fermented grains. It is a staple in many cultures, valued for its versatility and nutritional benefits. It is similar to porridge and can be made from various grains like corn, millet, or sorghum.

    Pap is particularly beneficial for nursing mothers and babies. It is believed to aid in breast milk production and provides a digestible food source for infants.

    While it is beneficial, mothers are usually advised to always consult with their pediatricians before introducing new foods to their baby’s diet, especially when adding any other supplements, to which some children may be allergic. The primary concern is the overall nutritional balance of a baby’s diet.

    How the product which is marketed as an “organic” solution to help babies gain weight bypassed NAFDAC’s certification remains a mystery to many Nigerians who have called for prompt action.

    Just like there are problems and diseases associated with under-nutrition or the typical malnutrition, there are problems and diseases the over-nourished/overweight children also have to deal with as the paediatric endocrinologists have unravelled. These overweight and obese children are prone to hypertension and diabetes even from childhood.

    Mrs. Shakirah queried: “Ever wondered why there is an obsession with chubby babies? There is this issue of unnecessary worry by mothers because their babies are “not gaining weight” “looking lean” “skinny” “not chubby” “not fat enough” “always dropping  (weight)” “not looking like other children” or “cannot see the food he is eating on him or her”.

    “A petite cute baby is automatically under-fed to everyone. Different kinds of advice start coming in. Hence, weight gain pap for babies.”

    For and against babies’ weight gain

    Obsession with weight gain in babies appears to be gaining more traction. For some, it is more like “a trial will convince you”. Observation by The Nation on one of the vendor’s TikTok page revealed that some mothers in the comment section were drooling for babies’ weight gain, while others gave a sharp contrast.

    Childhood overweight and obesity has been associated with serious health problems and risk of premature illness and death later in life. Uncontrolled child overweight and obesity can lead to all the health complications that can be noted in an adult.

    Genius Hawalh lamented: “You see these new generation mothers who should have been in such or something? They are cancerous to now and the future. They misplace priorities effortlessly. And to the poison sellers, may VDM reason your matter, individually.”

    For Onigbajo Toyin, it is a sad development.

    She said: “This is so sad! There are more parents like this out there. Homemade food is meant for healthy growth, not questionable weight gain like this!

    “This knocks down the work some of us are doing to promote homemade food for children.”

    Chinedu Mpamugo: “Having an extremely big infant is not a ‘flex’ as some think. What you need is a healthy child, not an obese one.

    “Infant obesity poses a short and long-term problem, with risk of chronic diseases later in life. It’s worse when you have to give special products for weight gain.”

    Amaka Ohiri argued: “They don’t know the future health risks they are exposing their babies to. Why would a “so-called” mother feed a four-month-old with a weight gain pap? What happened to her breakfast milk? If she’s not lactating, what happened to age appropriate breast milk substitutes (baby milk)?”

    Ngene Akpa said: “The drugs they use in fattening pigs is what they put in the pap and some mothers administer it directly to their kids. I always say men should get actively involved to monitor what is happening.”

    Mr. Ogochukwu lamented: “This is the most use*less era. Our parents of old used more organic nutritional products to grow us. The Gen z girls of now want it quick, using lots of processed chemical mixtures to feed their kids.”

    Mr. Ejikem advised: “Men, please be involved in whatever your wives are doing to your kids. Only mentally deranged couples will buy weight gain pap for babies.

    “Genetically, two slim people shouldn’t be having Orobo. These are the same people that bleach children.”

    In response to the concerns raised about the product marketed as Pems Organic Weight Gain Pap, the seller issued a statement on her TikTok account, @purely_organicc.

    In the statement, she maintained that her product is made from entirely natural ingredients, which she said are properly sorted, washed and dehydrated before production.

    The statement reads in part: “I do not use any form of artificial content in my product; they are natural ingredients.

    “Here are the ingredients I use: oats, sorghum, millet, tiger nut, cashew nut, soya beans, dried plantains, millet, date, crayfish and groundnut, all of which are properly sorted, washed, and dehydrated before production.”

    She further defended the safety of her product, claiming that it had been used without any adverse reactions by her own children and numerous customers.

    “This is a product I’ve used for my son and my niece and none of which they have ever reacted to, neither have any of my customers.

    “I can share with you some contacts of my customers for confirmation,” she wrote.

    “This is a product I send within and outside Nigeria, and no child has ever reacted to it!” she insisted.

    The seller clarified that her business is registered with the Corporate Affairs Commission and is in the process of obtaining NAFDAC approval.

    She wrote: “And for the part of NAFDAC, it is a process I’ve been working on for the past couple of weeks, and I’m trying to get all of the necessary documentation.

    “Also, my business is registered under CAC, and I can send you some samples of my product for testing and can be taken to any lab for further inspection.”

    Setting babies up for future health challenges?

    The infancy stage of babies are crucial to their growth. Infancy is a time when the growth, coordination, and mental development occur. Newborns build upon their rooting, sucking and grasping reflexes. Infants begin to tug and pull on their hands, clench them into fists, and bring them to their mouths, all while learning to repeat their body movements.

    Experts argue that responsive parenting behavior is very useful and important in averting detrimental feeding practices and child’s obesity. Poor eating and feeding practices start from the earliest days of a child’s life.

    They underlined that some mothers may lack knowledge about balanced diets and healthy eating habits, leading to unintentional promotion of unhealthy weight gain.

    As children begin transitioning to soft or solid foods around the six-month mark, too many are introduced to the wrong kind of diet.

    A certified nutritionist, Odukoya Fiyinfoluwa, posited: “Overfeeding your baby or giving them calorie-dense but nutrient-poor foods to achieve that “chubby look” can set them up for future health challenges: obesity, diabetes, and even hypertension.

    Health advocate and paediatrician, Ayobola Adebowale, noted that a baby’s overweight is a foundation for childhood obesity

    He said: “There is a healthy weight pattern for babies — Double birth weight around five months; triple birth weight at first year!

    “Your baby, after six months, should be eating good and balanced diet. You don’t necessarily have to give them energy dense foods because you want them to be chubby.

    “Chubby doesn’t necessarily mean healthy. Your focus should be raising a healthy child with healthy weight. You say it is baby fat, I say it is a foundation for childhood obesity because you just wouldn’t stop feeding them.”

    Doctor Egemba Chinonso, popularly known as Aproko Doctor, urged regulatory agencies to take action on these products which are detrimental to the health of babies and infants.

    Checks by The Nation revealed that the agency in its extant law noted: “No NAFDAC regulated product shall be manufactured, imported, advertised, sold, distributed or used in Nigeria unless it has been registered in accordance with the provision of Food, Drugs and Related Products Registration, Act Cap F33 LFN 2004.

    “A pre-packaged and/or labelled food product shall not be manufactured in Nigeria unless the facility has been inspected and Certificate of Listing is issued to the product by NAFDAC.”

    Chinonso said: “Dear @NafdacAgency, I’m guessing this is within your purview. No one knows what is inside that pap. Also, this is setting these babies for damage.”

    Three researchers, Drs Oluwafunmilayo Adeniyi, Gabriel Fagbenro and Foluke Olatona, in a 2020 report, noted that the rate of childhood obesity in some developing countries was as high as that of developed countries.

    They added that children in low and middle-income countries were exposed to high-fat, high-sugar, high-salt, energy-dense, and micronutrient-poor foods, which were lower in cost but also lower in nutrient quality.

    For the medics, these dietary patterns, in conjunction with lower levels of physical activity, result in a sharp increase in obesity in children.

  • Fraudsters, kidnappers deploy PoS outfits to wreak havoc (2)

    Fraudsters, kidnappers deploy PoS outfits to wreak havoc (2)

    •Reps act on The Nation report, summon CBN gov, bank executives

    The House of Representatives on Wednesday resolved to summon Central Bank of Nigeria Governor Olayemi Cardoso, and chief executive officers of commercial banks operating in the country to propose solutions to the challenges posed by lack of documentation of Point of Sale users across the country. The development came up barely four days after we published a report about how kidnappers and other criminal elements in the country are carrying out heinous crimes using the well-intended system.

    The report published last weekend revealed how kidnappers use unsuspecting PoS operators to collect and share money collected from victims as ransom.

    The report also revealed how scammers use various means to fleece innocent citizens of their hard earned money through PoS.

    The report equally pointed out how recalcitrant PoS operators flouted the orders of the Corporate Affairs Commission (CAC) to register their business for easy monitoring.  Without considering how the move would reduce fraudulent activities carried out through system, many operators have reportedly bashed the CAC, arguing that the cost of registration would deplete the profits of the business and drive up the charges payable by their customers.

    Alarmed by the rising cases of financial crimes done through PoS, Hon. John Okafor, the member representing Ehime/Mbano/Uboma/Obowo Federal Constituency, Imo State in the House of Representatives, during Wednesday’s plenary identified the increasing challenges associated with the undocumented identities of PoS users in Nigeria.

    According to him, cases of fraudulent activities within the financial system have been established against PoS users, adding that there is “a necessity to combat such illicit practices and safeguard the integrity of financial transactions within Nigeria.”

    He said: “The House is aware that undocumented PoS transactions from both party’s identities create a loophole for fraudulent activities, such as identity theft, money laundering and unauthorised transactions.

    “By enforcing the documentation of users’ identity, the incidence of fraud will significantly reduce, and the security of financial transactions in Nigeria will be enhanced.

    “The House is aware that proper documentation of POS users’ identities fosters accountability among operators and users. This transparency will help trace transactions back to the individuals involved, holding them accountable for illegal activities.”

    The lawmaker expressed what he called regulatory bias and enforcement challenge towards due process by the relevant regulatory bodies.

    He called for immediate intervention to avert this ugly situation and “Shield Nigerians from the hands of criminals through the use of the POS system.”

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    He added: “Establishing a system for verifiable documentation of POS users’ and recipients’ identity aligns with the national and international financial regulatory requirements to prevent financial crimes and ensure compliance with anti-money laundering and know your customer regulations.”

    Following overwhelming support for the motion, the Speaker, Tajudeen Abbas, who presided over the plenary, mandated the House Committees on Digital and Electronic Banking, Finance, Banking Regulations, and Financial Crimes to invite the CBN governor and Group Managing Directors of all commercial banks and other financial institutions using POS services to appear before them.

    The committees have four weeks to report back to the House.

    Registration of PoS business will check fraud —Expert

    A fintech expert and technical resource centre manager at INLAKS Alabi Ramon Adekunle, in a telephone interview with our correspondent, said that registering with the CAC will enable the government to track transactions carried out on PoS devices and consequently check fraud.

    Beginning with how government regulations help to check fraud on ATM machines, Alabi said : “An ATM  is under the bank network and there are CBN  regulations that checkmate what the bank does and also the percentage return of bank on every transaction done on an exchange.

    “But coming to PoS,  the major charges of PoS is between the bank and the spy agent that is operating the PoS, making it a bit difficult for the government to track different transactions going on the account of PoS operators.

    And that’s why you see now that because PoS business is more viable, it is more profitable than an ATM business. You see some bankers releasing funds to PoS operators instead of loading their ATMs for customers to withdraw money. That has been a challenge.  

    “What government is looking at is to make the PoS operators to register with CAC so that they have a tracker, and if anything happens, they can easily see them as a registered entity.

    Talking about the likely challenge the PoS operators  will face for registering with the CAC, the fintech expert said: “There would be the regulatory policy from government to check them. That one is a plus to government, but they (PoS operators) will be under regulated environment, meaning that they will not be free to do whatever they are doing in any way.

    “Number two, their profit margin will drop because it will be easy for any financial body like CBN to have a concrete policy on percentage sharing between the operator, the bank and CBN, because as it is now, CBN is not making any money from PoS transactions. The gain is only between the bank and the operator.

    “Then another challenge that is likely to happen is recently, fraudulent transactions that are done on banks accounts are majorly done via PoS, because for the entity that owns that PoS, there is an extent to which they can track them.

    ‘This makes it easy for fraudsters or yahoo yahoo boys to use PoS as a means of cashing out their money because there is no way they can actually be tracked to the particular entity that owns that PoS device.”

    On an ATM, Alabi said: “If a fraudulent transaction is done, they can track it to the termal ID of the ATM in question, thereby knowing the location of where that transaction was performed.

    ‘As it is now, it is difficult for government to track that on PoS. But if they are registered, it will be easy for government to track transactions.

    “But for those operators that are having partnership operations with the yahoo yahoo boys that give them extra money for using their outlets to cash out their money, such will stop. This is a disadvantage on the side of the operators.”

    How recalcitrant PoS operators forced CAC to keep registration window open

    The failure of the CAC to carry out its threat against PoS operators who failed to register with the commission after the deadlines may have emboldened criminal elements to continue to exploit the gaps in the system to wreak financial havoc on harmless citizens.  

    On May 6, the Federal Government, acting through the Corporate Affairs Commission (CAC), set a two-month deadline for PoS companies to register their agents, merchants and individuals with the commission, aligning with legal requirements and the directives of the Central Bank of Nigeria (CBN).

    This decision was reached during a meeting between Fintechs and the Registrar-General CAC, Hussaini Ishaq Magaji, in Abuja.

    The order was flagrantly disobeyed by many operators forcing the CAC to issue a fresh statement extending the deadline.

    The statement dated July 7 reads: “The Corporate Affairs Commission wishes to notify Fintech Operators also known as Point of Sales (POS) Operators that the initial deadline of 7th July, 2024 given for the registration of sole agents, super agents and agents has been extended for a period of 60 days, beginning from 7th July, 2024 to the 5th September 2024.

    “This is to give sufficient time to Operators particularly those in remote areas who might have encountered network challenges to so register and continue with their businesses.

     “Operators who fail or refuse to register at the end of the extended deadline run the risk of losing such businesses and prosecution for aiding and abetting criminal activities.”

    The September 5 deadline also expired with a good number of PoS operators failing to register with the CAC.

    Alarmed by the defiance of the operators, the CAC on September 7 expressed concern over the inadequate compliance with the directive despite the large number of POS operators in the country.

    According to the statement, “recalcitrant operators have refused to adhere to the advice for formalization due possibly to engagements in unwholesome activities or for some reasons best known to them.”

    The CAC emphasised that it was working in collaboration with law enforcement agencies and other relevant stakeholders to implement a comprehensive enforcement and sanction framework.

    The measures may include the shutdown of non-compliant businesses and other severe legal consequences.

    “We are to make it clear that the commission is working with law enforcement agencies and other relevant stakeholders to deploy a comprehensive enforcement and sanction framework that may include not only possible shutdown but other severe legal consequences,” the statement reads in part.

    When contacted last week on the level of compliance and what the commission was doing about those who have defied its order, the commission’s Director of Press, Dominic Inyang, shockingly told our correspondent that the process was still ongoing without saying anything about dealing with erring operators as it had repeatedly said in its statements.

    Providing the Commission’s position on our request, he said: “The process is still ongoing. Compliance level is still ongoing as well hence an exact figure of PoS registered cannot be given at the moment.

    Why our members’  registration with CAC is poor – PoS operators’ boss

    The Association of Mobile Money and Bank Agents in Nigeria in September attributed the Point of Sale operators across the country’s  low turnout for the registration  with the CAC to ongoing case the association has against the Commission.

    National President of the association, Sarafadeen Fasasi, described the move by the CAC to clamp down on the association members who were yet to register with the commission as illegal.

    His words:  “We have members in the two segments of agency banking. We have sub-agents and registered businesses. Those that are registered businesses are even over 60 per cent before the CAC came out with that policy and it’s only about 40 per cent that are sub-agents.

    “We are in the court with them to say that they cannot force those to register with them and that is the outcome of what you are seeing. We are not just fighting for the 40 per cent.

    “We are fighting the illegality because if they succeed with POS, they will also go and implement the same policy on our traders in the markets, like garri and pepper sellers, because the POS people are not different from them. We are in the same space and that policy imposed on them is not about the interest of the country or payments; it is about cash out. They just want to make revenue and share the money.”

  • Lagos urged to leverage Child Nutrition Fund

    Lagos urged to leverage Child Nutrition Fund

    Lagos government has been called upon to leverage the Child Nutrition Fund, to procure multiple micronutrient supplements (MMS) and make it accessible to all pregnant women in the state.

    The Civil Society Scaling-Up Nutrition in Nigeria (CS-SUNN)  a non-governmental, made the call during a media engagement for improved reportage on the uptake of multiple micronutrient supplements (mms) for anaemia prevention and control in Nigeria held in Lagos state.

    In a statement signed by the Executive Secretary, Sunday Okoronkwo, CS-SUNN said: The Child Nutrition Fund (CNF) is a catalytic financing matching fund by UNICEF that enables national governments to double their investments in essential nutrition commodities including MMS, for the prevention and treatment of anaemia. Now is the time for Lagos State to take bold action through strategic investments in MMS to drastically reduce anaemia rates, improve pregnancy outcomes, and give the next generation in this state a healthier start in life. Through the Child Nutrition Fund, the Lagos State Government can harness a unique co-financing mechanism to double its investments in nutrition commodities like MMS and other interventions.

     “It is important for the state government to strengthen the integration of MMS into Antenatal Care Protocols in health facilities, ensuring that every pregnant woman receives comprehensive micronutrient support. It is also essential to equip healthcare providers with the necessary training to effectively deliver MMS and educate mothers on the importance of this intervention.

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    “Establishing robust systems for monitoring MMS distribution to prevent stockouts and ensure that supplies are consistently available in both rural and urban healthcare facilities is key. In the coming weeks, CS-SUNN will contribute to these efforts by building the capacity of civil society organizations to effectively track and monitor MMS coverage, uptake, and adherence among pregnant women, thereby enhancing data availability and supporting evidence-based advocacy for improved maternal nutrition.”

    In Nigeria, the statement said recent findings from the 2023-24 Nigeria Demographic and Health Survey (NDHS) reveal an increase in malnutrition levels in the country when compared to data from five years ago. “This worrisome development requires an urgent and more coordinated response to address the rising malnutrition crisis. The survey showed that nationally, 4 out of every 10 (40%) children under five are stunted (compared to the 37% stunting rate in 2018) with about 5 (55%) out of 10 women of reproductive age suffering anaemia.  Kaduna state mirrors these national challenges, with even more pronounced rates of malnutrition among children. In Lagos state, the data revealed that 1-2 children out of every 10 children under-five (17.3%) are stunted, about one (6.0%) out of every 20 children are underweight with about two (14.3%) out of every 10 children suffering wasting.”

  • How the fintech boom is revolutionising financial inclusion

    How the fintech boom is revolutionising financial inclusion

    In recent years, Nigeria’s fintech sector has evolved at a rapid pace, introducing innovative digital solutions that are transforming the landscape of financial transactions. These fintech companies have disrupted traditional banking by offering convenient, user-friendly platforms that enable seamless transactions for both individuals and businesses. With the rise of Point-of-Sale (PoS) systems and digital payment platforms, many Nigerians, including those in rural areas, have gained easier access to financial services. ALAO ABIODUN explores how fintech companies are emerging as formidable rivals to Nigeria’s traditional banks

    For 42-year-old Mrs. Kemisola Akano, a market seller in the Ikotun area of Lagos State, partnering with a fintech firm, Moniepoint, has transformed her business operations. “Before now, I faced constant challenges receiving payments from customers. Some would make fake transfers, while others struggled with transferring to my regular account. Since I got Moniepoint’s point-of-sale (POS) machine, my business transactions have been seamless,” she said with relief.

    Her experience underscores the vital role fintech firms play in bridging financial gaps, particularly during a period of banking network disruptions. Since September, bank customers across Nigeria have faced difficulties accessing their funds and completing transactions due to persistent outages in core banking applications. Frustrated customers have expressed how these disruptions have not only hindered their activities but also eroded trust in traditional banking institutions, which many see as the cornerstone of financial stability.

    Fintech firms like Moniepoint, however, have stepped in to fill the void. With a network of agents nationwide, these companies are reshaping financial inclusion by offering accessible and affordable services to the unbanked and underbanked population. Digital banking, often described as traditional banking in a digital form, has struggled to meet the expectations of customers due to inconsistent service delivery. In contrast, fintechs have thrived by leveraging innovative technology and a decentralised model to meet the needs of everyday Nigerians like Mrs. Akano.

    While banks struggled to adapt to the naira redesign and related pressures, fintech companies experienced a surge in demand, as many Nigerians turned to them for daily transactions. Checks by The Nation reveal that Sterling Bank was among the first to experience prolonged downtime, which began in September and reportedly lasted over five days. The disruption followed the bank’s switch from its T24 core banking application to SEABaaS, a platform developed specifically for the African market by Peerless. Sterling touted SEABaaS as a tailored solution, but the transition came with significant challenges.

    Other banks soon faced similar hurdles. GTBank transitioned from Basis/Banks software to Finacle in September, following a decision made in September 2023. Zenith Bank also upgraded its core banking system, moving from Phoenix to Flexcube. Initially, Zenith Bank assured customers that its downtime would be brief, spanning just five hours on September 29 for “routine maintenance.” However, users reported prolonged issues. Access Bank followed suit with a scheduled downtime from October 12 at 10 PM to October 13 at 6:30 AM. The bank announced that the interruptions, which impacted services like the Access More app, internet banking, and ATMs, were part of a comprehensive system upgrade to enhance functionality.

    These transitions, while aimed at improving operational efficiency, left customers frustrated, eroding trust in traditional banks. The situation created an opportunity for fintech firms to step in, offering more reliable and accessible services. As banks grappled with outages, fintechs thrived, consolidating their role as essential players in Nigeria’s evolving financial landscape. Amid the banking downtime, many Nigerians turned to fintech platforms like OPay, PalmPay, and Moniepoint for their financial transactions. OPay, owned by Chinese billionaire Yahui Zhou through Opera, has emerged as a popular alternative for money transfers and bill payments, particularly during periods of cash shortages.

    The fintech sector in Nigeria has experienced explosive growth, with increasing investments aimed at expanding service offerings. These platforms have gained traction with the country’s youth, tech-savvy individuals, and even older adults using internet-enabled smartphones. However, in an era of rising internet fraud and online scams, experts warn of the risks associated with relying entirely on digital banks and fintech solutions.

    For many Nigerians, fintechs are seen as “life-savers.” Business owners and Point of Sale (POS) operators, in particular, rely on these platforms for seamless transaction processing where banks often falter. Among them, Moniepoint has garnered significant attention following a $110 million Series C investment led by Development Partners International’s ADP III fund, alongside Google’s Africa Investment Fund and Verod Capital. This investment, which valued Moniepoint at $1 billion, solidified its unicorn status. Moniepoint, founded by Tosin Eniolorunda and Felix Ike in 2015 as TeamApt, initially built software for traditional banks. By 2019, it secured a licence for agency banking, allowing it to bridge gaps between banks and customers. The platform has since grown exponentially, handling 5.2 billion transactions worth over $150 billion in 2023. By early 2024, Moniepoint had onboarded 2.3 million businesses using its payment machines.

    With its new funding, Moniepoint aims to accelerate its pan-African expansion, creating an integrated platform for businesses across the continent. The platform’s success highlights the vital role fintechs play in providing reliable alternatives and enhancing financial inclusion in Nigeria. In June 2023, Moniepoint ranked as Nigeria’s second-largest player in the point-of-sale (POS) agent network, holding a 20% market share. Its closest competitor, the Chinese-owned fintech OPay, backed by SoftBank Vision Fund and Sequoia Capital China, led the market with a 37% share, according to the Nigerian Financial Services Report.

    Despite being a runner-up in POS dominance, Moniepoint has aggressively expanded its offerings. In August 2023, it entered the personal banking market, achieving a staggering 2,000% growth in personal finance customers over the past year. Its revenue growth has also been impressive, with a compound annual growth rate (CAGR) exceeding 150% in recent years. Currently, Moniepoint processes over 800 million transactions monthly, with a total value surpassing $17 billion. This rapid growth and consistent performance have solidified its position as one of Africa’s leading fintech companies.

    Explaining the investment appeal of Moniepoint, Adefolarin Ogunsanya, Partner at Development Partners International, described it as one of Africa’s most exciting and fastest-growing firms. “Moniepoint is well positioned to continue its impressive growth trajectory while driving financial inclusion for underserved businesses and individuals across Africa. DPI has a long-track record of supporting businesses like Moniepoint to achieve their next stage of scale.

    “The company’s combination of innovative technology, fast growth, and positive impact on the continent underpins our conviction in its future success. We look forward to working closely with Tosin and his talented team to expand Moniepoint’s customer base by providing businesses and individuals with first-class banking and payments services,” Ogunsanya stated.

    Fintech companies in Nigeria have gained significant traction by offering user-friendly apps that provide a wide range of services, including loans, savings, investments, and seamless financial transactions. This growth has been particularly notable during periods of economic stress, such as the recent naira redesign and cash shortages, which pushed many Nigerians toward alternative financial platforms.

    The competition within Nigeria’s fintech market has intensified as consumers are presented with a growing number of options. Start-ups are vying for customer loyalty through innovative solutions and enhanced user experiences. According to a McKinsey & Company report, Africa’s fintech industry is rapidly expanding despite political and economic challenges, with the sector’s revenue expected to reach $230 billion by 2025. These companies are increasingly dominating the financial services landscape by offering accessible and efficient payment solutions.

    An analysis of fintech app performance on the Google Play Store highlights their rising popularity. Unlike Nigeria’s commercial banks, none of which have surpassed 10 million downloads, fintech apps are attracting a significant user base. This suggests a shift in consumer preference toward fintech platforms as they address gaps in traditional banking services and cater to the evolving needs of customers.

    As of November 2024, several fintech apps in Nigeria have recorded impressive download numbers on the Google Play Store, reflecting their popularity and adoption among users. These include Moniepoint, which has achieved over 5 million downloads, and Paga, with over 1 million downloads. Piggyvest, another favourite, also boasts more than 1 million downloads, while Carbon and Kuda each have over 5 million downloads. Other notable apps include Okash, Palmcredit, PalmPay, Fairmoney, and OPay, each with over 10 million downloads, showcasing their dominance in the sector. JumiaPay and Smartcash PSB have similarly garnered significant traction, each crossing the 5 million download mark. Renmoney, a financial services platform, has achieved over 1 million downloads.

    In June 2024, the Central Bank of Nigeria (CBN) lifted the restriction on new account openings for OPay, Moniepoint, Kuda, PalmPay, and Paga. This decision followed an earlier directive in April 2024, where the CBN had instructed these five fintech firms to pause onboarding new customers. The temporary suspension was part of a broader initiative to address fraud and ensure stricter compliance within the rapidly growing fintech industry.

    “It is imperative to reiterate that OPay strictly adheres to the approved KYC verification processes and urges our esteemed customers to ensure that the due verification processes are followed for all accounts and all requirements are completely fulfilled,” a statement on OPay’s social media handles read.

    Lifting the ban could be linked to the fintechs satisfying KYC standards required by the CBN. The CBN froze 1,146 bank accounts linked to unauthorised forex transactions. In May, the neobanks met with the National Security Adviser (NSA), the Economic and Financial Crimes Commission (EFCC), and the CBN to discuss lifting the ban on new customer onboarding. Authorities mandated the neobanks to restrict peer-to-peer crypto transactions. They were also instructed to update customer details and require bank verification or national identity numbers for all tiered accounts.

    Stream of investments into fintech sector

    The National Bureau of Statistics reports that Nigeria’s banking sector contributed 16.36% to the nation’s real GDP in Q2 2024, up from 2.98% in Q1. The sector faces increasing competition with recent payment-service banking licences granted to MTN Nigeria and Airtel Africa, joining Globacom’s Money Master and 9Mobile’s 9PSB. This positions all four major telecom operators to offer banking services, further transforming the financial landscape.

    Fintech start-ups have fuelled growth in alternative lending, offering investors higher yields and borrowers faster, cheaper loans. Companies like Carbon and Branch provide lower interest rates by avoiding the operational costs of traditional banks. Among the standout players is Flutterwave, valued at $3 billion, making it Nigeria’s most prominent payment company. Founded in 2016 by Olugbenga Agboola and Iyinoluwa Aboyeji, Flutterwave facilitates online payments for merchants and businesses, attracting global investors like Visa and securing a $250 million investment in 2021 to expand its African footprint.

    Despite rapid growth, Nigeria’s fintech sector grapples with challenges, including regulatory barriers, ambiguous policies, public mistrust, and a lack of understanding of e-commerce and fintech by regulators. Fraud and low digital literacy further undermine the sector’s potential, hindering its ability to match the advancements seen in developed economies.

    In January 2017, the Central Bank of Nigeria (CBN) issued a circular declaring virtual currencies, including cryptocurrency, as non-legal tender in Nigeria. Banks and financial institutions were warned that any transactions involving cryptocurrency would be at their own risk. In February 2021, the CBN intensified its stance by directing all financial institutions to cease holding cryptocurrency or facilitating payments with it. The directive further instructed banks to identify and close accounts of customers engaged in cryptocurrency transactions. These stringent regulations have significantly impeded the growth of cryptocurrency in Nigeria.

    Despite these challenges, Nigeria’s fintech sector has continued to attract substantial funding. Between 2014 and 2019, the industry raised over $600 million. Notable successes include Kuda Technologies, a mobile-first bank in Nigeria, which secured $25 million in Series A funding led by Valar Ventures. Flutterwave, a payment platform, achieved unicorn status in 2021 after raising $170 million in Series C funding, valuing the company at over $1 billion. The funding, led by Avenir Growth Capital and Tiger Global, helped Flutterwave expand its global reach. Its partnership with PayPal now allows international customers to pay African merchants, bridging gaps in cross-border transactions. Regulated by the US Securities and Exchange Commission, Flutterwave is also exploring a listing on the New York Stock Exchange.

    In terms of consolidation, the Nigerian fintech space made history in October 2020 when Lagos-based payment platform Paystack was acquired by US payment giant Stripe in a landmark $200 million deal. This acquisition remains one of the largest in Africa’s fintech history, showcasing the sector’s potential despite regulatory hurdles.

    Why Gen Z, others age brackets are embracing fintech apps

    Currently, 17 companies in Nigeria are licensed by the Central Bank of Nigeria (CBN) as Mobile Money Operators, though the broader fintech sector boasts over 200 companies. These mobile money operators, often referred to as fintechs, have become a significant part of Nigeria’s financial landscape. For instance, All Adeyinka, a University of Lagos student, was able to complete a transaction at a vendor on campus simply by downloading the OPay app. After signing up and verifying his phone number, Adeyinka could choose the ‘verify account’ option, input any bank account number along with a random address, local government area, and state, and instantly create an account. “Using OPay has saved me a lot,” Adeyinka explained. “When my main bank app is down or experiencing interruptions, I just use the alternative, and it has helped me many times.”

    Similarly, Kemisola Akijyemi, a young entrepreneur, described fintech apps as ‘life savers,’ especially when other banking options are unavailable or unreliable. These platforms offer convenience, helping users navigate banking challenges with ease. “For me, since Moniepoint became a top choice for me and I also have the PoS, it has helped to ease my financial transactions. I prefer to stick with the other ones because everything goes smoothly in no time because this is business. Although I have my bank app for personal use, I have their time when things go south.”

    Mr. Hassan, a POS operator, shared that many Gen Z users now prefer conducting money transfers through fintech platforms rather than traditional banks, citing their convenience and ease of use. However, Mama Rukayat, a food vendor, expressed hesitation about fully embracing fintech services. Despite having accounts with several conventional banks, she remains cautious about moving entirely to fintech platforms due to concerns over falling victim to fraudsters.

    Financial expert Samuel Adewunmi pointed out that the erosion of trust in fintech companies has led some conservative bank users to remain loyal to traditional banks, valuing their perceived security and reliability. In an interview, the Managing Director of PalmPay, Chika Nwosu, acknowledged that one of the biggest challenges fintech companies face in Nigeria is building trust with the public, a critical factor for their long-term growth and success. “Many Nigerians remain sceptical of digital finance platforms, feeling wary about investing in services they cannot physically see or touch. This caution is amplified by memories of past Ponzi schemes that left people with significant financial losses, fostering a general distrust toward any online financial service.

    “To counter these concerns, we have taken comprehensive measures to earn and secure public trust. Firstly, we are fully licensed and regulated, and our funds are protected under the Nigeria Deposit Insurance Corporation, ensuring financial security for our clients. We also prioritise customer data protection, implementing strict privacy policies and robust cybersecurity measures to safeguard against fraud and criminal activity.”

    Recently, Moniepoint appointed Bayo Olujobi as the Chief Financial Officer (CFO) of its microfinance banking subsidiary, Moniepoint MFB. Olujobi, with nearly 20 years of financial expertise, joins Moniepoint from Stanbic IBTC Bank, where he held the positions of CFO and non-executive director. This appointment follows Moniepoint’s recent $110 million funding round, which will drive its aggressive expansion plans. Moniepoint aims to digitise operations for millions of small and medium-sized businesses across Africa, with a goal of onboarding 30 million businesses over the next five years. Tosin Eniolorunda, Group CEO of Moniepoint Inc., expressed confidence in the company’s customer proposition, highlighting its secure, convenient, and easy-to-use platform for managing both personal and business finances.

    In addition, Moniepoint is reportedly in discussions with the CBN to secure a commercial banking licence, which would give it a competitive edge over rivals like OPay and PalmPay. If successful, Moniepoint would become the first Nigerian fintech to hold a commercial banking license, a strategy similar to that of Nubank in Latin America, which applied for a banking license after becoming the primary bank for a significant portion of Brazil’s population.

    A commercial banking license would be a major milestone for Moniepoint, highlighting its growth and its commitment to adapting to Nigeria’s changing regulatory environment. Since the CBN increased scrutiny of fintech firms in December 2023, obtaining this licence would position Moniepoint as a stable, compliant, and forward-thinking player in the country’s rapidly evolving financial ecosystem. If granted, the commercial banking licence would provide Moniepoint with the ability to operate without the geographic and service limitations imposed by its current microfinance banking license. This would enable the fintech to expand beyond the South-West region of Nigeria and offer a broader range of banking services to businesses and individuals across the country.

    Fear and cybercrime

    Cybercrime remains a significant hurdle for the growth of Nigeria’s digital payment system, with an increase in fraud incidents largely attributed to relaxed transaction rules and inadequate customer verification standards. Phishing attacks, where scammers impersonate legitimate bank social media handles to steal customer information, have become widespread, compromising both banks and fintech companies. These vulnerabilities, coupled with insufficient identity management systems, make fintechs prime targets for cybercriminals.

    To counter these threats, fintech companies have invested heavily in robust security measures. For example, OPay has introduced the Large Transaction Shield, which uses facial recognition authentication to protect users from unauthorised transactions. This feature allows users to set personalized transaction limits, adding an extra layer of security for large or unusual transactions. Fintechs have also addressed the gaps left by traditional banks, particularly in the area of lending. While traditional banks often had stringent requirements, fintech companies have innovated by introducing online lending platforms that allow access to loans without the need to visit a physical bank. These platforms use alternative credit scoring methods, including Bank Verification Number (BVN)-linked phone numbers, to assess creditworthiness and repayment behavior.

    Meanwhile, MTN Nigeria’s MoMo Payment Service Bank (PSB) is further diversifying by applying for two new licenses, the Payment Service Solutions Provider (PSSP) and Payment Terminal Service Provider (PTSP). This strategic move could disrupt Nigeria’s digital finance landscape, enabling MoMo PSB to offer a wider array of financial services. These developments reflect how fintechs are evolving to meet the needs of a more digitally-savvy population while contending with cybercrime challenges.

    These new licences would allow MoMo PSB to handle payment terminals and manage backend processing for digital payments. This move opens up MoMo PSB to provide in-store and online transaction solutions for more merchants and customers.

    Regulations in fintech industry and CBN’s role

    Data from the Nigeria Inter-Bank Settlement Systems (NIBSS) has shown that licensed mobile money operators, including Palmpay, OPay, and 15 others, processed transactions worth N41.5 trillion between January and July 2024. This marks a significant 74% increase compared to the N23.9 trillion recorded during the same period in 2023. In 2023, mobile money operators collectively processed N46.6 trillion in transactions, the highest annual figure for mobile money in Nigeria’s history. This surge in mobile money activity mirrors the broader rise in e-payments in the country, with total transactions across all electronic channels reaching N566.3 trillion between January and July 2024.

    The fintech industry in Nigeria has seen significant regulatory advancements, with the CBN playing a key role in driving these changes. In January 2021, the CBN introduced a Framework for QR Code Payments, aimed at promoting contactless payments, particularly in the wake of the COVID-19 pandemic, which saw many physical cash systems shut down. This move was part of a broader initiative to enhance digital payment solutions across the country. That same year, the CBN launched the Framework for Regulatory Sandbox Operations to support fintech start-ups in navigating regulatory challenges while fostering innovation. The Securities and Exchange Commission (SEC) also took steps to formalize investment-based crowdfunding, publishing rules to regulate this space.

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    Further regulatory development occurred with the CBN’s introduction of the Open Banking Framework in February 2021, making it easier for fintech firms to access financial data and create more integrated financial services. In October 2021, the CBN unveiled the eNaira, Nigeria’s digital currency, which operates alongside the physical naira, expanding digital financial inclusion and offering a government-backed alternative to cryptocurrencies.

    Additionally, the Pan African Payments and Settlements System (PAPSS) was established with guidelines set by the CBN, facilitating cross-border payments across Africa. These regulatory initiatives are integral to shaping Nigeria’s rapidly growing fintech ecosystem and ensuring it develops in a secure and controlled environment.

    At the 2024 Nigeria Fintech Week, the theme “Positioning Africa’s Fintech Ecosystem to Accelerate Inclusive Growth” underscored the critical role fintech plays in driving socio-economic development across Africa. The event highlighted the continent’s growing fintech presence, offering innovative solutions that address its unique challenges, but also stressed the importance of reaching underserved populations who still lack access to traditional financial services.

    Emomotimi Agama, Director General of the Nigeria Securities and Exchange Commission (SEC), emphasised the need for “smart regulation” to manage the rapid growth of fintech. This approach balances innovation with essential protections for investors and market integrity. Agama advocated for flexible but rigorous regulatory frameworks that ensure fintech companies meet security, consumer protection, and market integrity standards. Aminu Maida, the Executive Vice Chairman of the Nigerian Communications Commission (NCC), also stressed the importance of strengthening regulatory frameworks for fintech. He praised Nigeria’s regulatory approach, noting that it has garnered global recognition, particularly within the International Telecommunication Union’s collaborative regulation benchmark, a testament to Nigeria’s growing influence in the fintech space.

    Point-of-Sale (PoS) systems have become a popular choice for many business owners, including traders and ride-hailing drivers, as their preferred tools for daily operations. Despite the availability of banking apps, many individuals in these sectors consistently lean toward fintech apps for easier transactions. The rise of PoS systems has undoubtedly made banking more accessible, especially in rural areas, and has significantly promoted financial inclusion. However, this adoption has also led to a surge in fraudulent activities, with scammers using PoS terminals to deceive unsuspecting Nigerians.

    According to data from the Nigeria Inter-Bank Settlement System (NIBSS), the number of registered PoS terminals in Nigeria reached 26.54 million within seven months, marking a 22.59% increase from the 21.65 million recorded in July 2023. This growth highlights the increasing shift toward digital payment platforms, driven by policies aiming to reduce the reliance on cash transactions. The number of newly registered PoS terminals in January 2024 alone reached 3.44 million, a 48.5% increase from January 2023.

    Despite the growing adoption of fintech solutions, digital banking services in Nigeria have faced erratic service delivery, with transactions that once took minutes now stretching into days. Additionally, many customers remain skeptical of fintech platforms, largely due to a lack of awareness and understanding. This ignorance, coupled with concerns about trust and security, leads many to continue relying on traditional banks for their transactions. Fintech companies still have a significant amount of work to do in terms of public sensitization and building trust within the Nigerian market.

  • Enter Katsina’s new Lamido

    Enter Katsina’s new Lamido

    The profile and popularity of Jabiru Tsauri has soared in the eyes of Katsina people, following his installation by the Emir of Katsina, Alhaji Abdulmumin Kabir Usman, as the Lamido Katsina.  AUGUSTINE OKEZIE traces the events that culminated in the turbaning of the Chief of Staff to the Governor of Katsina State.

    The Chief of Staff to the Governor of Katsina State, Jabiru Abdullahi Tsauri, was penultimate Saturday conferred with the esteemed traditional title of Lamidon Katsina by the Emir of the historical city, His Royal Highness, Dr. Abdulmumini Kabir Usman, CFR.

    At the turbaning ceremony, the Emir urged traditional title holders to reconsider their roles in the maintenance of law and order, stressing its importance as an elixir for peace, unity and tranquility.

    The conferment of the title on Jabiru was in recognition of his significant contributions to Katsina State’s progress in socio-political and economic spheres. The turbaning ceremony was held amidst pomp and ceremony.

    Extending his warm congratulations to Jabiru Tsauri for the honour, the governor declared that the state had risen in honour of “a worthy son of the soil”.

    The Nation recalled that a statement by the Chief Press Secretary to Governor Dikko Umaru Radda, Ibrahim Muhammed Kaula, said the Governor had congratulated his chief of staff and expressed profound gratitude to the Katsina Emirate and the Emir in particular for honouring Tsauri with the Lamidon Katsina title.

    Tsauri had accepted the title of Lamido Katsina, pledging to continue serving the people of Katsina State with unwavering dedication and integrity, and thanking the Almighty Allah for his blessings, showering encomiums on the emirate council led by HRH Alhaji Abdulmumin Kabir Usman, for the great honour.

    He also paid glowing tributes to his principal, Governor Diko Umar Radda, for his guidance and unwavering support, pledging his unalloyed loyalty as they both work towards building a new Katsina State.

    The Nation recalls that the Chief of Staff was also saddled by his friend and governor, Dikko Umar Radda, with the chairmanship of the Taskforce on Food Security to tackle food hoarding, high prices and allied matters in the state.

    Royal endorsement for Lamido Katsina

    Alhaji Gidado Isiaka Abdullahi, the Maigari Tsauri or Magaji Tsauri, a community in Kurfi Local Government Area and home town of Tsauri, who commended the appointment, hailed the decision of the Emir to endow him with the title, saying he richly deserved it on account of his philanthropic gestures to people of all races, particularly the people in his home town and state.

    He acknowledged Jabiru as a good village man and indigene well noted for good heartedness

    He said: “Jabiru ensures our people go to school. He is very helpful to the villagers both in training and skills acquisition.

    “He even outpaced the politicians from this village, like Senator Tsauri and the rest, in philanthropy and love for the people.

    “His people see him as a hero because of his kindness and affection.

    “For instance, he pays their WAEC and NECO fees, ensures the youths are employed into government and private offices and engages in financial empowerment and so on. Please thank him for us.”

    Villagers task new Lamido

    The villagers are however requesting through their traditional ruler that the Lamido fulfills his promises to repair the road that link the village to Kurfi Local Government headquarters, as well as the Katsina-Dutsinma and Tsauri –Batsari-Jibia roads.

    Magaji Tsauri, who spoke with our correspondent in his palace in Tsauri, also appealed to the Lamido Katsina to get the government to build a dam in the area for irrigation and other agricultural activities.

    Friends, associates hail Tsauri

    Justice Kabiru Shuabu of the Katsina State High Court aptly captured Jabiru’s humble background and beginning when he recalled in a media chat with The Nation their primary and secondary school days together as classmates.

    He described Jabiru as having positive qualities and attributes from the beginning, which he said had taken him to his present political status.

    He said: “He is very intelligent, broad minded and fit to deliver on any given assignments

    “He has the capacity to achieve set goals and a well-deserved background and upbringing that has prepared him for the future and the desired social strata.

    “Radda would not have found him worthy if he would not use the attributes positively to help the less privileged.”

    A peep into Jabiru’s political future

    While agreeing with the fact that Jabiru can veer into any political or social landscape he desires, Justice Kabiru opined that his friend can also out strive Radda politically if he so desires to engender newly established Lamido Foundation and ensure it is greater than the Gwagware Foundation that propelled Dikko Radda to his present political standing

    He further noted that Jabiru, through his Lamido Foundation, can emulate Gwagware Foundation, and should he sustain the foundation, can reach out also to the less privileged Katsina people.

     Recall that Gwagware Katsina was earlier a title conferred on the present governor by the Emir of Katsina, which incidentally had Jabiru appointed as state coordinator.

    Gwagware Foundation was established in 15 House of Representatives constituencies by Dikko Radda and had Jabiru appointed as coordinator because of his intelligence and brilliant disposition.

    Academic/political ascendency

    Justice Shuabu of the Katsina State High Court aptly captured Jabiru’s humble background as a product of Teachers’ College, Kafanchan in Katsina State where he graduated in 1998.

    He recalled during in a chat with The Nation their primary and secondary school days together as classmates on both circles. He considered Jabiru as someone with positive qualities and attributes from the beginning, which led to his political ascendancy.

    He said: “He is very intelligent, broad minded and fit to deliver on any given assignment. He has the capacity to achieve set goals and a well-deserved background and upbringing that has prepared him for the future and the desired social strata.

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    “Radda wouldn’t have found him worthy if he wouldn’t use it positively to help the less privileged.”                              

    Jabiru’s political journey

    His political journey began when his mentor, Senator Tsauri, picked him up as a legislative aide at the National Assembly, from where he rose to become the Chairman of Association of Legislative Aides. He later joined Senator Idah and later Senator David Mark.

    The Nation recalled that Jabiru was appointed also by Governor Dikko Umar Radda to head a twenty-seven-member committee taskforce on illegal dealers in food commodities, unlawful act of price hikes and hoardings, with offenders being made to face the full weight of the law.

    Tsauri as chairman taskforce on food suppliers reeled out several action plans of his committee, which he outlined to the media after visiting the Katsina Command of NSCDC on a courtesy call, as he sought the cooperation of the agency which he said remains invaluable to the group’s assignment.

    The Chairman further commended the warm reception accorded the committee during the visit. He further revealed that the Taskforce was established to monitor the prices of foodstuffs, address the act of hoarding grains, movement of food commodities and any act that will lead to price hike.

    He said: “Any person found in illegal dealings with food commodities, unlawful act of price hike and hoarding will be made to face the full wrath of the law.

    “Our personnel at LGAs and boarder areas have already swung into action, and I assure you of all the necessary support, cooperation and timely intelligence that will help uncover these illegal dealings.”

    Not a few Katsina citizens observed the Ramadan periods with stable minds under stable food prices and availability of foodstuffs in the major markets and suburbs. Every citizen of Katsina has suddenly developed a new swansong of praise for Governor Radda.

    Strident voice against banditry

    After a recent banditry attack at Gora Yammama village in Deyi, Malunfashi Local Government Area, Katsina State, Tsauri had cried out that the location had become notorious for high profile banditry attacks, which he said security agencies should prioritise their attention on.

    Narrating to The Nation how he narrowly escaped a harrowing assault from suspected bandits in ragtag dresses, Tsauri revealed that ”Gorar Yam Mama” village which has become notorious for high profile security attacks needed serious security presence. He also assured that the recent security measures embarked upon by the state government would soon catch up with perpetrators of banditry attacks in the state.

  • ‘I still carry scar from hawking bread on Lagos roads’

    ‘I still carry scar from hawking bread on Lagos roads’

    His is an inspiring story of a young man who against all odds chose to do something good for himself. Wilson Akpan rose from being a bread seller in the Lagos traffic to becoming one of the big players in the oil and gas business, by setting up Itswill Global Company Limited. In this interview with GBENGA ADERANTI, he tells his story of moving from the bottom rung of life’s ladder to being a force to reckon with in the business circle. He also reveals how faith propelled him to move on in spite of the challenges he encountered on his journey to the top. Through his Wilson Akpan Foundation, he also helps the less-privileged and aspiring entrepreneurs.

    Given your humble background, what would you tell the youths who are going through what you went through?

    One thing I always tell the youth is that they should not give up on their dreams. Whatever it is that God has laid in their hearts to do, they should just stick to it. They should not allow anybody to talk them down. I am a strong Christian. The only thing that helped me to really grow was my relationship with God. I believe that with God, you can do all things. The book of Philippians 4:13 is my anchor scripture: “I believe I can do all things through Christ that strengthens me.”

    Does that mean you have to be a Christian to do something good?

     You don’t have to be a Christian to do something great. We all have different religions. But I always tell people that Christianity is not a religion; it is a way of life. It is in Christianity that you find the truth about life. I always tell people that every business principle that you see in this world today is captured in the bible. So if you are a Christian, it is an additional advantage for you to make more.

    If you are of the world, the world will want to lure you against your faith, and when you do that it backfires. But Christians won’t want to do those things against their faith. I believe they have the same doctrine in Islam too. A good Muslim won’t engage in killing to make money. A good Christian will also not do that. When you are a Christian it will help you build your faith and will help you navigate life based on the purpose of your creator.

    Do you assist Christians only?

    The assistance cuts across everybody. As far as you are a youth and, most importantly, less privileged.

    You said you ‘hustled’ early in life, and in the process, you sustained an injury, and the scar is still with you to date. I want you to relive the experience.

    Early in life when I was still selling bread at Berger (Lagos), I remember when I was knocked down by an oncoming vehicle. I didn’t even know that I sustained any injury until I stood up and fell down again. God saved me; other vehicles did not climb me. When I stood up again, I was just hearing ‘e mu, e mu (hold him, hold him). The next thing they called was an ambulance, and it took me to the emergency unit on Berger Expressway, close to Motorways.

    From there, they referred me to the hospital where they stitched the injury. I was in the hospital for a month. Up till today, the scar of the injury is still there. There are times I show my children that this is where I sustained the injury, so, work hard. Each time I see those scars, they make me remember the incident and make me feel that no matter what happens in this life, nothing will take my life. I saw several people knocked down by vehicles at the same place during that period and they didn’t survive it.

    How has the incident impacted your worldview?

    When I reflect on what happened to me, I try to see what I can do to help people. These are the things that give me the drive to do more to impact young ones, especially the less privileged in society.

    Many Nigerians don’t do anything for nothing, but according to you, you started this foundation to assist the less privileged. How does it make you feel when you hear something like “foundation is a scam’?

    Yes, I started the foundation to help the less privileged in society. Well, I have not heard people say that foundation is a scam. Some people told me recently that for me to be doing this at this time, it is like I am a Superman. I’m not really a Superman, but I don’t think anybody will say a foundation is a scam. You can only say a foundation is a scam if the people are not genuine in what they are doing. I’m not looking at amassing wealth; I want to use the little I have to affect my generation, my society and my community positively, and that has been my major drive.

    Are you looking forward to joining politics shortly?

    This question always pops up. When I went to my hometown to empower some youths, and give to the widows, they called me to run for chairmanship position. I am not a card-carrying member of any political party, but I support good governance inasmuch as we want a good person to rule us. For now, no. I don’t know of the nearest future, but for now, I don’t have interest in running for any political office. It is not on my agenda to join politics, maybe in the near future, if God says it is time for me to do that, maybe, maybe not. But that is not my aim of doing what I am doing.

    What really motivated you to enroll for PhD?

    I look at it from this perspective: I am into business, I am also training entrepreneurs, and there is a need for me to acquire all the knowledge, wisdom, and understanding to be able to lead these people right. The mentorship programme that I’m doing right now was what made me do an MBA so that I will be able to have an understanding of how to run my business and lead entrepreneurs. If I don’t have the right knowledge to lead them, I won’t be a good leader. Like the programme we just finished, I was one of the major speakers to mentor our entrepreneurs so that they will not make mistakes some entrepreneurs made in the past.

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    Through grit and hard work, you have attained this height. What would you be telling aspiring businessmen?

    They should hold on to their faith; hold on to what they believe; and be passionate about what they are doing. One thing about business is that if you are not passionate about what you are doing when challenges come, you might as well close the business. But if you are passionate about what you are doing, you will succeed. I always tell them that every business has its own secret. If you are not passionate about what you are doing, if you don’t learn about that business, there is no way you will be able to know much about that business.

    What are the challenges of doing business in Nigeria?

    There are lots of challenges in doing business in Nigeria. My thesis is on the impact of entrepreneurs on the Nigerian economy. I’m looking at what entrepreneurs do to benefit the economy. What the governments should do is create an enabling environment for entrepreneurs to thrive in Nigeria. How can they do that? It is by giving out single-digit loans to entrepreneurs that will ensure a constant power supply. And there are others I might not be able to mention now that will enable entrepreneurs to thrive in Nigeria.

    I understand that you recently empowered some young boys and girls. What is this all about?

    The Wilson Akpan Foundation was founded out of the passion to help the less privileged and the vision of the foundation is to train, empower, and establish youths in their core areas of interest; make them self-reliant and self-employed. In the last three years, we have been able to train and empower 50 young entrepreneurs in different fields. Our vision is to train and empower 100 youths yearly. Currently, because of financial constraints, we have only sponsored 50 now. That is what God laid in my heart and I have been doing that.

    We don’t only focus on training and empowering youths alone, we also give back to widows and indigent students in public schools. Last session, we went to Pastor Adegboyega Primary School in Ikosi, Lagos, where we donated a sick bay to the school. This session, we went to Olowora Primary School, where we donated books, socks, and writing materials. We also gave them bags. These are the things we have been doing basically over the years. If you go to www.wilsonakpanfoundation.com, you will see most of the things we have done so far.

    Talking about helping the needy, how much do you spend annually on this project?

    Recently, we spent more than N10 million because the bags alone that we made for students cost over N2 million and the books cost N1 million. We train 15-20 people yearly, and for you to train them, you have to empower them. That is what we do. After the training, we empowered them, and we opened shops for the graduates of the training. We spent close to N20 million.

    Where do you get the money to fund the foundation from?

    Currently, we are looking for people to sponsor us. I know we will soon get people to sponsor us, but currently, the money is coming from me. Like I tell people, I don’t look at making all the money; I look at how I can empower society, how to make peoples’ lives better, and how impact society. I’m more passionate about helping the less privileged. No matter what I spend, I don’t feel it. My prayer is that God will continue to provide for me so that I will continue doing what I’m doing.

    At what point did you start this Foundation?

    It was when I travelled down to my home. But before then, I had been sponsoring the education of some people in the universities. I got attracted to them because they had lost their parents. I told their family members that I would take care of their education. Then I discovered that there were lots of youths who were dropouts and had nothing to do. I looked at where I came from and how God helped me. That was when I told them that anybody who had an issue and couldn’t continue their education should let me know. I would take it up from there. That was when I started helping some students in the university.

    I also noticed that there were youths that were not doing anything. I brought them together and I said okay, I was going to train and empower them. I just wanted those youths to be engaged.

    I did not only do this in my hometown in Akwa Ibom State, I also did it in Lagos, Ikorodu where I reside.

    To me, if we help each other, we can have a better society. Most of the menaces we see in society are borne out of youths who have not been able to do anything. As the bible says, an idle mind is the devil’s workshop. When they are idle, they do whatever that comes out of their minds. The best way to take them out of the street is for you to empower them. Most of them have the knowledge to do good things, but there is nobody to assist them.

    The foundation was borne out of the passion to see that people are doing well around me. When I look at where I came from and how I strived to become who I am today, I always tell people no matter what you are, you can become somebody.

    I was selling bread in the streets of Lagos, and from there I was able to sponsor myself to school and see where I’m today. Currently, I’m almost through with my doctorate. If I could become what I am today, you too can. We just finished the mentoring series, mentoring both aspiring entrepreneurs and entrepreneurs. I found that most of the people we empowered needed mentorship. That was why we came up with a mentoring programme.

    We have been able to invite people to come and speak. I am also one of the major speakers, based on my ideas and experience as an entrepreneur. My team came up with the idea not only to train, empower, and assist them alone but also to mentor them to make them do well in their business so that once they launch their business, they will also thrive.

    What are the challenges you normally face?

    The major challenge right now is funding because there are lots we can do because I’m only the major sponsor, because of that, funding has been the major challenge currently.

     Was there any time you felt discouraged about continuing with this?

     There was never a time I felt discouraged because this is what I love doing. This is the fulfillment I have when I see people we have trained and empowered doing well. There was a time I went to see some of them and I saw the smiles on the faces of the people that we trained, tears almost dropped from my eyes. They were tears of joy that God has been able to use me to put smiles on the peoples’ faces. Like the bags we gave out to the students in the primary schools, one of the trainees, the people we empowered, was the one who made those bags. It goes a long way to make me happy. These are some of the things that keep me going; when I see them doing well. That is the drive that gives me going.

  • How fraudsters, kidnappers deploy PoS outfits to wreak havoc

    How fraudsters, kidnappers deploy PoS outfits to wreak havoc

    • Terminals multiply as fraud cases soar 
    • CAC keeps registration window open as recalcitrant PoS operators defy orders

    The number of point of sales (PoS) vendors in the country is growing  in geometric proportions, rising from 155,000 in 2017  to 3.04 million in July this year. But laudable as the development is for business and commerce, it is fast becoming a handy instrument for kidnappers, internet fraudsters and other criminal elements  in the society. INNOCENT DURU reports that a lot more needs to be done by the authorities before criminal elements destroy the trust that innocent Nigerians have in the system.

    A PoS operator based in Delta State recently played a role in helping kidnappers to collect and disburse ransom money without knowing it. She had a customer, Timothy, who had been withdrawing and transferring money at her business centre and she had built a lot of trust in him over time.

    She said their business relationship grew with transactions ranging between N2,000 and N5,000 until Timothy decided one day to collect her account details.

    She said: “When he collected my account details, he did not tell me that he would transfer money to me. He only called and asked me to check my account.”

    On checking her account balance, she found that Timothy had transferred N4 million into it. Elated by the unprecedented cash deposit, the PoS operator quickly calculated what she stood to gain from the deal.

    “My profit from the transfer is N40,000.  I sent N1.2 million into Timothy’s account and he gave me other accounts that I transferred the remaining money to,” she said with every sense of innocence.

    Shortly after the deal was concluded, the long arm of the law caught up with Timothy. It was at that point that it dawned on the PoS operator that she had played a key role in a kidnap deal. 

    Confessing to the crime, Timothy said: “Precious, Bala sent me the money. This was the first time they would do a transaction with me.”

    He said aside from the N4 million, “another N590,000 was paid by another person. I do local fraud. The other guys also do local fraud.  We do the fraud inside the yard. I have heard that the N4 million was collected from a kidnap victim.”  

    The case of Timothy and the innocent PoS operator is just one of the numerous instances of criminals using ignorant POS operators to carry out ungodly activities.

    Aside from kidnappers, one notable criminal gang that uses PoS operators very often to carry out their heinous crimes are hoodlums who hack into people’s social media handles like WhatsApp and Facebook. Once the scammers have control over the hacked WhatsApp account, they impersonate the victim and request money from their contacts, often under the guise of an emergency with promises of repayment. They may also use the hacked account for other criminal activities.

    One of such criminal elements recently hacked our Abuja based correspondent’s WhatsApp number.  After gaining control of the app, he started impersonating the victim.  He wrote a well-crafted message telling how he urgently needed financial help and promised to pay back shortly. He requested that the money be paid into a Moniepoint account number 5641873364 with the name Daniel Ilesanmi.

    This reporter was among the people he sent the message to. After receiving the message, however, this reporter shared the information with a contact number found on the website of the Economic and Financial Crimes Commission (EFCC) asking them to track the number. No response was received and it was not certain that the anti-graft agency acted on the information.

    Findings revealed that PoS gives hoodlums the opportunity of hiding their identities as no personal information about them are provided in the transaction. All they do is to provide the PoS with information that payment had been made to the POS operator’s account.

    Another scammer, who reached out to our correspondent to assist a little boy through a POS account, in a poorly composed message said: “Please help the poor boy. Nothing his (is) too small, nothing his(is)  too big? AND MY GOD WILL CONTINUE BLESSING YOU ALL. THANK YOU SO MUCH, PLEASE YOU CAN ALSO SHARE.  Balogun Oizamisie  Moniepoint Bank 5526266306.”

    Also sharing her experience, Omon spoke of how a fraudster who had hacked her sister’s WhatsApp account and impersonated her, asked for financial help.

    “The number he posted was a POS account number,” she said.

    “When  I got the message, I played along and asked the scammer to send his bank details. I promised to send the money after 30 minutes. He was glad, thinking that he had got a willing victim.

    “After 30 minutes, he called back to remind me about the money. I said he should still hold on. After some time, he got angry and started abusing me. He quickly deleted all the messages when I told him that he would end up in jail.”

     Fraudster uses online application to defraud PoS operators

    A 29-year-old commercial motorcyclist, Victor Ukachuckwu, recently narrated how he used an online application he downloaded from the internet to defraud Point of Sales (PoS) operators in Ondo State.

    The suspect said: “I saw the application online and I learned how to use it, which I tried and it worked, though I used it only five times in this month.

    “I made N55,000 from the fraud business before I was arrested by NSCDC operatives in Akure.”

    Speaking on the incident, Hammed Abodunrin, State Commandant of NSCDC, explained that the suspect had defrauded many PoS operators with his tricks. According to him, the suspect was in the habit of going to PoS operators to withdraw money.

    “After he was done with PoS operators, he would access his own bank through a firewall application to inform the bank that he made a transaction, which failed.

    “He would tell the bank that he had bought certain things and the goods were not delivered to him so he wanted the transaction cancelled and the money returned to his account. He would go back later and withdraw the reversed amount.

    “That is what he has been doing. This month alone, he has done it three times; I think on February 13, February 17 and yesterday (February 26).

    “One POS operator just noticed that each time he had a transaction with the suspect, the transaction would be reversed. This means that the POS guy kept losing money, amounting to about N55,000.

    “The suspect was arrested today (February 27). We were about to grant him bail and we just felt we should approach his bank, and another money just came back into his account, which means that there are so many that will still come back to his account,” the NSCDC chief explained.

    Abodunrin explained that when the command approached the bank, it (bank) claimed to have sent emails to the affected POS operators. He said the bank reversed the transaction and paid back the suspect because it did not receive any response from the POS operators it emailed.

    “I am appealing to banks to find faster and better means of communicating with their clients to prevent future criminal acts,” he said.

    How fraudsters use ‘No Trace Account’ to defraud on PoS

    Findings revealed that scammers who defraud PoS operators often transfer the funds into what is called No Trace Account. A no trace account, according to AI search results, is a type of account that provides anonymity for its users by not keeping official records or tracking the source of money.

    Hawala, also known as underground banking, is a money transfer system that uses no trace accounts to transmit money without moving currency. Hawala networks have been used for centuries, and are often used by expats to send money home.

    However, some countries, like India, have declared Hawala illegal due to its informal nature and lack of regulation.

    Reacting to a complaint by a scam victim on Nairaland  about how his money was stolen through PoS, a netizen said: “The guy who withdrew the cash withdrew it to a no trace account which he already created with XXX. Yahoo guys/G Boys/online scammers create an account called “No Trace Account” using stolen BVN details.

    “They create this account with online banks. Trust me when investigation is done on this matter, na innocent person dem go catch, except the scammer later transfers the cash to a regular account from which he can withdraw it using an ATM card or he can use a xxxx ATM card to do the withdrawal.

    “Then with this, his face will be out there, captured by the camera attached to the ATM machine used. Being aware of this risk, he wouldn’t try that option. But las las (in the end), he will opt for the best option of buying stuff and then do transfer to the seller.

    “But in this case, it’s obvious he used an XXX  ATM on PoS to do that withdrawal. My best guess is that money is gone.”

    •Unegbu

    He advised: “Next time, to avoid having your ATM card details /account being compromised, do this: Don’t you ever use your main bank account ATM on any POS.

    “Any time you want to use the POS, transfer just that amount+ charges to a secondary account. You can go ahead and withdraw from this account using the associated ATM card. Do this for both ATM & online transactions.

    “This way, you avoid exposing yourself to online hacks.

    CAC keeps registration window open as recalcitrant PoS operators defy orders

    On May 6, the Federal Government acting through the Corporate Affairs Commission, CAC, set a two-month deadline for PoS, companies to register their agents, merchants, and individuals with the commission, aligning with legal requirements and the directives of the Central Bank of Nigeria, CBN.

    This decision was reached during a meeting between Fintechs and the Registrar-General CAC, Hussaini Ishaq Magaji, in Abuja.

    The order was flagrantly disobeyed by many operators forcing the CAC to issue a fresh statement extending the deadline.

    The statement dated July 7 reads: “The Corporate Affairs Commission wishes to notify Fintech Operators also known as Point of Sales (POS) Operators that the initial deadline of 7th July, 2024 given for the registration of sole Agents, Super Agents and Agents has been extended for a period of sixty days beginning from 7th July, 2024 to the 5th September 2024.

    “This is to give sufficient time to Operators particularly those in remote areas who might have encountered network challenges to so register and continue with their businesses.

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    “Operators who fail or refuse to register at the end of the extended deadline run the risk of losing such businesses and prosecution for aiding and abetting criminal activities.”

    The September 5 deadline also expired with a good number of PoS operators failing to register with the CAC.

    Alarmed by the defiance of the operators, the  CAC on September 7, expressed concern over the inadequate compliance with the directive, despite the large number of POS operators in the country.

    According to the statement, “Recalcitrant operators have refused to adhere to the advice for formalisation due possibly to engagements in unwholesome activities or for some reasons best known to them.”

    The CAC emphasised that it was working in collaboration with law enforcement agencies and other relevant stakeholders to implement a comprehensive enforcement and sanction framework.

    The measures may include the shutdown of non-compliant businesses and other severe legal consequences.

     “We are to make it clear that the commission is working with law enforcement agencies and other relevant stakeholders to deploy a comprehensive enforcement and sanction framework that may include not only possible shutdown but other severe legal consequences,” the statement read in parts.

    When contacted on the level of compliance and what the commission is doing about those who have defied its order, the commission’s Director of Press, Dominic Inyang  said the process is still ongoing.  Providing the Commission’s position on our request, he said: “The process is still ongoing. Compliance level is still ongoing as well hence an exact figure of PoS registered cannot be given at the moment.

    Our efforts to find out from the Central Bank, the maximum amount a PoS operator can receive or transfer daily were unsuccessful.

    The spokesperson, Sidi Ali was yet to respond to our text message as at the time of filing this report.

    POS fraud cases rise in first half of 2024 as terminals spread

    Reports showed that PoS fraud rose in the first and second quarter of this year. The prevalence of fraud and forgery in the country’s payment system showed a significant shift in the first quarter of 2024..

    According to the Fraud and Forgeries Report in Nigerian Banks for the first quarter of 2024 by the Financial Institutions Training Centre (FITC), POS fraud cases surged by 31.12% in Q1 2024.

    In Q4 2023, there were 2,683 reported cases of fraud associated with POS terminals. However, this number escalated to 3,518 cases by Q1 2024. POS fraud cases made up 30.67% of the total fraud cases (11,472) recorded in the quarter under review.

    The second quarter witnessed a sharp increase in the ugly practice. A report from Nigeria’s Financial Institutions Training Centre (FITC) revealed a rising wave of fraud that cost Nigerians ₦42 billion between April and June 2024.

    The report highlighted how fraudsters targeted PoS systems and mobile devices, with fraudulent activities involving the technologies reaching alarming levels.

    The second-quarter report of 2024 recorded 11,532 cases of fraud, with a total value of N56.3 billion, marking a sharp increase from N34.8 billion in the first quarter. Out of this, N42.6 billion was successfully stolen, while financial institutions managed to recover N13.7 billion.

    The report showed mobile fraud was the most prevalent, responsible for 33.4 per cent of the reported incidents, followed by PoS-related fraud at 24.6 per cent.

    These forms of fraud, it underlined, include scams carried out through mobile apps and internet banking platforms.

    Web-based fraud accounted for 16.9 per cent of the cases, underlining the growing sophistication of cybercriminals.

    The FITC report also noted that most of the losses occurred at the bank branch level, where 95 per cent of the total fraud value, approximately ₦54 billion, was recorded.

    According to FITC, this points to a troubling increase in insider involvement, with 49 employees dismissed for their role in these schemes during the quarter.

    The report indicated fraudsters continue to exploit weaknesses in both modern and traditional systems despite advancements in digital security.

    PoS terminals multiply as fraud soars 

    The number of POS terminals in the country has continued to rise in geometric proportion showing a relationship between the rise and the increasing cases of fraud.

    Between 2017 and 2022, the number of POS terminals in Nigeria grew significantly. In 2017, there were around 155,000 terminals, while as of April 2022, this figure reached roughly 1.1 million.

    By July this year (2024) the number of PoS machines deployed by merchants and individuals across Nigeria, according to the Nigeria Inter-Bank Settlement System (NIBSS), rose to 3.04 million.

    This represents a 32% increase year on year when compared with the number of deployed terminals in the same period last year, which was 2.3 million.

    The July 2024 figure indicated that a total of 744, 533 new PoS terminals were deployed between August 2023 and July 2024.

    However, as at July, the figure for deployed PoS was still lower than the total registered terminals. According to the NIBSS data, a total of 4.06 million PoS machines had been registered across the country as of July 2024, which shows that a total of 1.02 million terminals are either yet to be deployed or have become inactive.

    Police counsel PoS operators

    Counselling POS operators, Delta State Police Command spokesperson, Bright Edafe, said : “Anybody that wants to do transactions above N500,000 should go to the bank.

    “If you as a POS operator are receiving money that is unreasonably high, understand that there is an element of crime in it, because they are supposed to go to the bank.”

    The PPPRO disclosed this while parading Timothy and the innocent POS woman operator.  He said: “This lady was contacted by this suspect  who collected her POS account number  and sent N4 million that was taken from a victim who was kidnapped into the account.”

    Indiscriminate issuance of PoS machines fuelling fraud- Unegbu

    A former Chartered Institute of Bankers president, Mazi Okechukwu Unegbu, blamed the rising cases of PoS fraud on indiscriminate issuance of PoS machines by banks and fintech companies without proper training. Checks showed that fintech companies particularly have their vendors moving about wooing people to take the machines.

    Findings also revealed that some PoS operators sell PoS machines and get commission for as long as the machine is in use.

    Deploring the practice, Unegbu said: “Part of the problem is that you have people who are not properly examined to operate PoS business. It is a fintech business, what we call financial technology business.

    “Now, you have people who are not properly trained. Everybody starts PoS business without proper training.

    “And I think the banks are at fault. The banks who give this PoS machines to operators, should be able to give the people training, but they are not doing that.

    “They need to properly train them so that they’ll be able to know their do’s and don’ts. But once they don’t train them, they are exposed to the weather and anything can happen to them.”

    Aside from banks, Unegbu also said “OPay, Palmpay and Moniepoint, among others, should be able to train PoS operators.

    “And that’s why I’m talking about due diligence. The bankers should also be held responsible for the malfeasances of these PoS operators, because it is not right for them to just give the PoS machine to anybody.

    “They keep going around encouraging people to take PoS, and those people who take them are not properly trained as to what they ought to do. It’s unfortunate.

    “If anything happens, the banks will be held responsible too. You must give them training, telling them the do’s and don’ts, how to use the system, and how to do due diligence by examining people that come to do business with them.

    “So the banks will need to have such training ingrained in these POS operators.”

    Reacting to the case of Delta PoS operator engaged by kidnappers, Unegbu said: “That’s why POS people now, before they make such transactions, should carry out what we call Know Your Customer (KYC).

    “You must know who you are dealing with. You can’t just do things without knowing who you are dealing with.

    “Once somebody is going to do business with them, they should find out all their details and hold it just in case something happens. They can now use it, even though somebody may give false names since they are criminals.

    “But the POS man should have done some due diligence operations which can be shown, so that he can be free from harassment by law enforcement authorities.”

    Continuing, Unegbu said PoS operators’ banks should give them dos that don’ts emanating from central bank direction, because that’s why the CAC wants to register all of them. “So, if they are registered, you can trace them, you can know where they are. That’s why they need to be registered.

    On people who register in one state and carry out their businesses in another state, Unegbu said: “Once you are registered, anywhere you are in Nigeria, you are recognized, because registration is national, not statewide, although states may require you to register with their business units because of taxation and all that.”

    On the red flags that PoS operators must watch out for when dealing with customers, the ex CIBN chief said: “First of all, if somebody comes to you and starts acting funny, it should show a red flag to you. If somebody comes to do a N1 million transaction, you know it’s funny.

    As a PoS operator, you should direct him to the bank. And I know banks will not do it because the banks will immediately see the trick.

    “So the POS operators, if anybody comes to them to do from N1 million and above, they should raise the red flag before them.

    Various PoS frauds, solutions

    Flutterwave, a payment processing company that allows businesses to make and receive payments across borders, in a post, listed card skimming as one of the ways PoS frauds are carried out.

    This, it said, involves bad actors attaching devices, known as skimmers, to your card readers. “The skimmers are then used to capture and store the magnetic stripe information from credit or debit cards. The information obtained is then used to create counterfeit cards and make unauthorised purchases.”

    Providing safety tips to prevent card skimming, Flutterwave said: “Regularly inspect your POS terminals or card readers for any signs of tampering or unauthorised devices. If anything looks suspicious, promptly report it to your PoS provider for assistance and avoid using the terminal to collect payments.

    “Cardholders should always be on the lookout for any irregularities such as someone focusing too much on your card, that might make your card information or PINs accessible without your permission.

    Next pattern of PoS fraud according to Flutterwave is data breaches.

    “Cybercriminals may target POS systems to gain unauthorized access and steal your customer’s sensitive information like card details, names and addresses. Such sensitive data can be exposed to other bad actors and used to commit other crimes, such as identity fraud.”

    To prevent this fraud, it said: “Conduct regular security audits of POS systems and networks to identify vulnerabilities and address potential weaknesses.

    “Also, encourage your customers to always monitor their card reports through their bank statements and report any unauthorised transactions to their banks immediately.”

    Other forms of fraud and ways of preventing them as posted by Flutterwave are as listed below.

    Employee Fraud

    Dishonest employees may engage in fraud by manipulating POS transactions, providing unauthorised discounts, or conducting “sweetheart” transactions, where they collaborate with friends or accomplices to commit fraud.

    Safety tip to prevent employee fraud

    Safeguarding your POS business against employee fraud starts with conducting thorough background checks during every hiring process. Then, implement strict controls and access to limit your employees’ ability to manipulate your POS transactions.

    Transaction reversals

    Fraudsters may attempt to reverse legitimate transactions to receive a refund or credit for a purchase they did not make. This can be done through exploiting vulnerabilities in the POS system.

    Safety tip to prevent transaction reversals

    Set up monitoring systems that track transactions in real time and trigger alerts for unusual or high-risk activities. Keeping track will also provide you with records appropriate in cases of possible reversal fraud attempts.

  • Celebrating 85 years of promoting education, service to society

    Celebrating 85 years of promoting education, service to society

    On November 11, 1939, a group of visionary young men from Lagos Island founded the Crescent Bearers to uplift Muslim children through education. 85 years later, their legacy remains a cornerstone of Nigeria’s Muslim community. The anniversary celebration at MUSON Centre, Lagos, showcased the group’s enduring contributions to Muslim education, social justice, and community development. From establishing Nigeria’s first Muslim secondary school to offering scholarships and promoting unity, Crescent Bearers has shaped countless lives, embodying education, philanthropy, and service to humanity. Associate Editor ADEKUNLE YUSUF reports.

    In the 1930s, Lagos was a city on the brink of transformation. Amid the hustle of colonial life, a group of young men—vibrant, educated, and deeply aware of the socio-economic disparities around them—saw an opportunity to make a lasting impact. Despite hailing from privileged families on Lagos Island, they were conscious of the struggles of the less fortunate, particularly the Muslim community, whose access to education and opportunities for social advancement were severely limited.

    Spurred by a desire to change the status quo and guided by a deep sense of humanity, 16 young Muslim men from families indigenous to Lagos Island took a bold step. On November 11th, 1939, they formed the Crescent Bearers—a collective of idealists determined to uplift their community through education. Their mission was simple, yet revolutionary: to promote the acquisition of Western, secular education by Muslims, not just for individual advancement but for the collective improvement and upward social mobility of the entire Muslim community in colonial Lagos. They sought to dismantle the systemic discrimination that Muslim children faced in education and to elevate Islam’s standing in the mainstream cultural, political, and socio-economic life of an evolving modern Lagos.

    Led by founding members such as Mobolaji Odunewu, S.M. Onigbanjo, I.A.S. Adewale, A. Fatayi-Williams, and others, the Crescent Bearers not only focused on education but also sought to eliminate the discrimination Muslim children faced. They were determined to reshape the cultural, political, and social landscape of Lagos, advocating for a more inclusive society where Islam could take its rightful place in the mainstream. Over eight decades since its founding, the Crescent Bearers, or CB39, have remained dedicated to their mission. The group’s influence has extended far beyond education, helping to unite various Islamic sects in Lagos and strengthen the community’s collective voice. Through their tireless efforts, they have upheld the core principles of Islam, promoting it not only as a religion but as a guiding philosophy for life and social organisation.

    Today, the legacy of the Crescent Bearers continues to inspire future generations, proving that the power of education, vision, and unity can transform even the most entrenched societal structures Founded on November 11, 1939, the Crescent Bearers celebrated a remarkable 85 years of existence last week, marking the occasion with a joyous gathering on Sunday, November 17, at the MUSON Centre in Lagos. It was evident at the event why CB39 remains a beacon of the lofty ideals of Islam, fostering mutual understanding, collaboration, and a shared commitment to the complete education of the Muslim child.

    Read Also; I want to put pageantry aside now to prioritise education – Chidimma

    Now a trans-generational movement, Crescent Bearers has grown to 28 members, with some of its most distinguished figures including elder statesman and legal icon, Alhaji Lateef Okunnu, SAN; businessman and founder of Caverton Offshore Support Group, Mr. Aderemi Makanjuola; boardroom magnate, Mr. Akin Kekere-Ekun, whose wife, Justice Kudirat Kekere-Ekun, currently serves as the Chief Justice of Nigeria; and renowned scholar, Prof. Adele Jinadu, among others. The anniversary event, which celebrated the group’s enduring legacy, foresight, and commitment to education, was attended by prominent dignitaries such as Justice Kudirat Kekere-Ekun, Chief Justice of Nigeria; Dr. Obafemi Hamzat, Deputy Governor of Lagos State; and Mrs. Noimot Salako-Oyedele, Deputy Governor of Ogun State. The event was chaired by Professor Tajudeen Gbadamosi, a History professor at the University of Lagos, while renowned Islamic motivational speaker, Mrs. Maryam Lemu, delivered the anniversary lecture on the theme “Islam and Family Values – Building a Nation of Citizens.”

    In his welcome address, the chairman of Crescent Bearers, AbdulWasiu Ayodele Martins, reflected on the significance of the occasion, stating, “This event commemorates and celebrates the 85th anniversary of an association that has remained steadfast in its commitment to the education of Muslim children of Lagos State origin. Our primary purpose is to facilitate, promote, and support the acquisition of Western education for Muslims, while fostering an environment that upholds the values and teachings of Islam that we hold dear.”

    Martins further emphasized the remarkable legacy of the association, asserting that the roll call of its members would be the envy of any organisation worldwide. Prof. Tajudeen Gbadamosi, who chaired the event, also paid tribute to the founding fathers and current members, acknowledging their unwavering dedication to the association’s core mission. He expressed his deep honour at chairing such a prestigious event and noted that, had he not been chosen as chairman, he would have been content simply to attend as a guest.

    Dr. Obafemi Kadiri Hamzat, Deputy Governor of Lagos State, also praised the founding fathers, recognizing the immense significance of their efforts. “It’s important to mention their names individually,” he said, “because they initiated something truly exceptional. At a time when it was not easy for a Muslim child to receive an education, they came together and said, ‘We will be Muslims, and we will help many others access education.’ And, by the grace of Almighty Allah, they were granted the resources and determination to do so.”

    The Deputy Governor described the Crescent Bearers not just as an association but as a collective response to the need for guidance and support in the pursuit of knowledge. He emphasized that the group’s efforts were aligned with the teachings of the Prophet Muhammad, who said, “Seek knowledge, even if you have to go to China,” a reference to the distance and effort required to obtain knowledge during that time. Hamzat highlighted the remarkable achievements of Crescent Bearers, which include the establishment of the first Muslim Secondary School in Nigeria in 1948, the first multi-purpose mosque in Lagos State in 1955, and the introduction of Islamic education curriculum in Nigerian schools.

    He also commended the group’s provision of scholarships, the organisation of conferences and lectures, and their ongoing contributions to medical services, charity work, and fostering unity among Muslims. “At the time, these were no small feats,” he said, noting the sacrifices made to ensure these milestones were reached. The Deputy Governor concluded by underscoring the relevance of the event’s theme, “Islamic and Family Values: Building a Nation of Citizens,” calling it particularly compelling in today’s context.

    In her keynote address, Mrs. Maryam Lemu reminded everyone of the importance of keeping their mortality in focus, urging them to reflect on what they are able to accomplish in this life. She emphasized that all gifts—be they financial, spiritual, intellectual, or based on status and influence—are bestowed by Allah for the benefit of humanity. She encouraged everyone, particularly Muslims, to never shy away from showing kindness, highlighting that this was at the heart of Crescent Bearers’ 85th anniversary celebration. She quoted Allah, saying, “We have raised you by degrees above others so that we may try you with what we have bestowed upon you.”

    The event also featured the cutting of the anniversary cake and a special recognition of Justice Kudirat Kekere-Ekun, following her appointment as Nigeria’s Chief Justice earlier that year. Bearer Lateef Femi Okunnu, SAN, the oldest member and a distinguished legal luminary, praised the Crescent Bearers for fulfilling their mandate of uplifting the less privileged through education. Reflecting on the group’s humble beginnings, he fondly recalled how a group of young Muslim boys from Lagos Island, who had completed school about 11 years earlier, came together under the leadership of the late Alhaji Mobolaji Odunewu to form the Crescent Bearers. He described it as an extraordinary journey, saying, “I feel over the moon. I am happy because it is like going into outer space to see an organization that began with just a few young boys from very Muslim backgrounds, and over decades, they have continued to educate the Muslim child.”

    Bearer Liasu Adele Jinadu, another esteemed member, expressed his deep pride in being part of the Crescent Bearers, acknowledging its profound impact on his life. He reflected on how the group has shaped his understanding of Islam and the importance of working to strengthen the Muslim community, particularly in Lagos State. He described Crescent Bearers as a unique and remarkable group—restrictive but not elitist, with members of high integrity, committed to propagating the Islamic faith within their communities. “This is an organisation of dedicated Muslims, who are pursuing a mission,” he affirmed.

    Bearer Olusegun AbdulQuadri Williams, the General Secretary of Crescent Bearers, also shared his sense of privilege in being part of such a legacy. He expressed profound humility and honor in continuing the philanthropic work begun by the group’s visionary founders. “The founders were selfless, dedicated, and passionate about the education of the Muslim child in Lagos. Being part of this association is a responsibility that I cherish, and I stand to uphold the values that have defined the organisation for 85 years,” he stated.

    Bearer Mustapha Abiodun Jaji, who served as the Chairman of the Organizing Committee for Crescent Bearers at 85 and was the Chairman of the association in 2007, shared his gratitude for being a part of the group. Having spent 17 years as a member, he reflected on his involvement in organizing several significant milestones for the association, including the 80th, 83rd, and now the 85th anniversary celebrations. “I thank God for being a member,” Jaji said. “I have had the privilege of organizing these important events and playing my part in the development of this small but impactful association. We usually have a maximum of 30 members, but we are currently 28,” he added, emphasising the close-knit nature of Crescent Bearers.

    Bearer Hakeem Olusegun Oki, a trustee of Crescent Bearers, expressed his deep honor in being part of the organization. Reflecting on the cardinal mission of the founding fathers, he emphasized their commitment to supporting the less privileged Muslim community, particularly through scholarships. “Crescent Bearers is truly a child of circumstances,” Oki remarked. “The founding fathers, despite coming from well-to-do Lagosian families, were schoolmates who sought to uplift the less privileged by providing access to education.”

    Bearer Mustapha Akanni Oshodi, a member since 1985, also spoke with pride about the progress and impact of the association. “The founding fathers set out to support the Muslim community, especially at a time when Muslims were marginalized in terms of education,” Oshodi explained. “Through their efforts, the Crescent Bearers have achieved their goals of uplifting the Muslim society in education and the propagation of Islam, leaving a lasting impact on the community.”

  • Sanwo-Olu, Abiodun, Okpebholo congratulate Aiyedatiwa

    Sanwo-Olu, Abiodun, Okpebholo congratulate Aiyedatiwa

    Governors  Babjide Sanwo-Olu (Lagos), Monday Okpebholo (Edo), Dapo Abiodun (Ogun, Ahmed Ododo (Kogi) and former President Muhammadu Buhari yesterday congratulated Ondo State Governor Lucky Aiyedatiwa for vinning weekend’s governorship poll.

    They also lauded the Ondo State electorate for making the APC their choice party. 

    In separate messages, the governors tasked Aiyedatiwa to remain focused and deliver more dividends of democracy to the people. 

      Sanwo-Olu, who was chairman of APC  National Campaign Council for the  Governorship Election, also expressed appreciation to President Bola Tinubu for providing the right leadership and charting the right direction for Nigeria’s social-economic transformation.

    He said in a statement that the work of the campaign council was made easy by the good job    Governor Oluwarotimi Akeredolu did before his passing last December. 

    Sanwo-Olu said: “I want to thank the good people of Ondo State for their unflinching support and continued belief in our great party, the All Progressives Congress.

    ‘’This belief and support for our party have been demonstrated several times, including the past governorship elections, the local government elections, and the presidential election that ushered in the Renewed Hope team of our leader, President Bola Ahmed Tinubu.

    “As progressives, you have stood by us through difficult times, and now, the good times are here because you came out in numbers yesterday(Saturday), defying the scorching sun, and waited in queues for hours to cast your ballot for our candidate, your Governor, Mr. Lucky Orimisan Aiyedatiwa, and his deputy, Dr. Olayide Adelami.

    “As always, you roundly rejected those other political parties that represent nothing but retrogression, and you voted for progress. For this, we say thank you.

    “  I must state that our work was made a lot easier by the good job that His Excellency, the late Governor Oluwarotimi Akeredolu, had done, which has been built on by his successor, Mr. Lucky Aiyedatiwa, for the people of Ondo State.

    ‘’As the saying goes, you can build something on nothing! We only came here to build layers on the structure provided by Governor Aiyedatiwa and his team.’’

      Sanwo-Olu’s Edo State counterpart Okpebholo described Aiyedatiwa’s  victory as    ‘’a good omen’’

    Okpebholo prayed to God to grant Aiyedatiwa the wisdom to pilot the affairs of Ondo State for the next four years.

    He said: “I congratulate my friend and brother, Governor Lucky Aiyedatiwa of Ondo State for emerging victorious in last Saturday’s governorship election.

    “His victory is a good omen. I am certain that we will work closely together to bring peace and development to our dear states, as good neighbours.

    The governor,  in an online statement by his Chief Press Secretary, Fred Itua, also   appreciated ‘’the good people of Ondo State for voting for Governor Aiyedatiwa.”

    Governor Ododo,who served as the deputy chairman of the committee on election management and strategy in the campaign council, attributed  Aiyedatiwa’s triumph to hard work and strategic planning by the APC.  

    His   Special Adviser on Media  Ismail Isah, quoted him  as  saying that Aiyedatiwa’s administration  would  continue the development trajectory which “the APC has been known for in Ondo state over the years.”

    His words:  “We have known Governor Aiyedatiwa. He has been tested and can be trusted to continue the good work of the APC administration in Ondo State.

    “We have no doubt that he will build on existing infrastructure, social welfare, and security of lives and property across the state.

    “I am confident that he will succeed with this new mandate which is a further boost to the popularity and acceptance of the APC in Ondo State.”

    •Result  further endorsement of APC, Tinubu’s administration’

    Deputy President of the Senate Barau Jibrin hailed the governor’s victory a further endorsement of the APC and President Bola Tinubu’s administration.

    Jibrin also applauded the APC  national chairman   Abdullahi Umar Ganduje for making the party more cohesive.

    “The victory of our great party, the All Progressives Congress, in Saturday’s governorship election in Ondo State is well-deserved. I congratulate the governor-elect, H.E. Lucky Aiyedatiwa, and all our supporters on this victory. It is not just a victory for the APC but for our democracy and the people of Ondo State,’’ he said in a statement by his Special Adviser on Media and Publicity, Ismail 

     “This victory is a further endorsement of our great party, the APC, and a reaffirmation of the confidence of the people of the state in the exemplary leadership of President Bola Ahmed Tinubu,” Jibrin added. 

    Read Also: Kosofe chief’s aide hails Sanwo-Olu

    Victory an affirmation of people’s will, says Abiodun

    Ogun State Governor Prince Dapo Abiodun described Aiyedatiwa’s victory as an affirmation of the people’s will and the endorsement of his pro-people agenda.

    In his congratulatory message on Aiyedatiwa’s election,  Abiodun emphasized that the victor was not only well-deserved but also a testament to the outstanding performance of the All Progressives Congress (APC) in the state.

    “This victory reflects the unwavering support of the people for our party’s vision and dedication,” the Ogun governor said, stressing that the APC issue-based campaign resonated deeply with the electorate.

    Prince Abiodun also commended the collective efforts of all individuals and groups who contributed to the electoral success, commending the Independent National Electoral Commission (INEC), police, NSCDC, among others, for a job well-done in ensuring a free, fair and credible exercise.

    He also acknowledged the leadership of the APC at both the national and state levels for their relentless commitment and perseverance, even as he remarked that the ruling party has been waxing stronger under the leadership of Dr. Abdullahi Ganduje as National Chairman.

    The governor also praised President Bola Ahmed Tinubu for his exemplary democratic principles, noting, “since taking office, President Tinubu has championed a level playing field in our electoral processes, ensuring a fair and transparent environment for all candidate.

    “This victory not only signifies a milestone for Aiyedatiwa but also reinforces the APC’s stronghold in Ondo State, paving the way for continued progress and development.”

    Buhari: Voters have spoken

    Former President Muhammadu Buhari commended the success of the APC in the governorship election, saying the voters had spoken lucidly and loudly about the confidence they have in the party and the governor.

     Buhari said in a statement by his spokesperson, Garba Shehu, that the voters had expressed their wish through the ballot box, adding that this should be respected by other stakeholders.

    The former president said the election’s outcome had shown that democracy remained strong and could not be easily overturned in a country as large and diverse as Nigeria.

    He, however, challenged the governor-elect to put in place policies that engender economic growth, tame high unemployment and inflation while pursuing welfare programmes to make life better for the people.

    Buhari also commended the Independent National Electoral Commission (INEC) and law enforcement agencies for their efforts in reducing observed shortcomings in previous elections.

    Election is free,  credible, says Jimoh Ibrahim

    Senator  Jimoh Ibrahim  has  described the conduct of the   governorship election as ‘’free, fair and credible.’’

    Ibrahim spoke to reporters at Igbotako, Okitipupa Local Government Area at the weekend.

    The business mogul, who re-emphasized his loyalty to the  APC, said:’’I can confidently tell you that I am satisfied with the conduct of this election because it is free, fair, credible, and without violence.

    “I voted for my party as a loyal member under President Bola Tinubu and our respected National party chairman, Ganduje and I can say that definitely, APC will win this election.”

    Group lauds minister’s efforts

    Interior Minister Olubunmi Tunji-Ojo (BTO) was yesterday hailed for his outstanding contributions to Governor Lucky Aiyedatiwa’s victory.

    He was lauded by a group which identified itself as “The BTO Political Family”, which noted that his political influence was on display in his Akoko Northwest Local Government Area constituency.

    The group said the huge votes recorded in the minister’s area reinforced APC’s dominance in the Sunshine State.

    The statement reads: “This is not the first time Hon. Tunji-Ojo has delivered such groundbreaking results. During the 2023 presidential election, Akoko Northwest also led the state in votes for the APC, significantly contributing to President Bola Ahmed Tinubu’s success.

    “His consistency in mobilising grassroots support underscores his unparalleled dedication to the party’s growth and progress.

    “This win is a testament to the people’s trust in his leadership and vision for a greater Ondo State”.

    Electoral defeats sign of PDP rejection

    The defeats of the PDP in the Edo and Ondo governorship polls are signs that it has been rejected as political party, a group based in Osun State concluded yesterday.

    The group – Osun Progressives Youths (O-SPY) – spoke through a statement by its Coordinator, Tunmise Ajiboye, said in statement:  “I rejoice with the leadership of APC over the victory recorded in Ondo State. This is a testament that PDP is a rejected party.

    “We are certain that people of Osun State are eager to sack PDP in Osun State come 2026.PDP ought to be begging for forgiveness from Nigeria with the way they held the country at the jugular before the emergence of APC.”