2025 Beach Volleyball World Championship: Nigeria, Egypt, Mozambique lead Africa’s charge to Adelaide

The stage is set for the 2025 FIVB Beach Volleyball World Championship, with Africa’s finest duos – including Nigeria, Egypt, Mozambique, Togo, Benin, and Morocco – learning their group-stage opponents for the highly anticipated global competition taking place in Adelaide, Australia, between November 14 and 23.

The draw, held yesterday, brought together 48 men’s and 48 women’s teams, marking the largest-ever edition of the tournament and the first to be hosted in the Southern Hemisphere. Each gender’s competition features 12 groups of four teams, with the top two and four best third-placed duos advancing directly to the round of 32. The remaining third-placed pairs will contest a ‘lucky losers’ round for the last qualification spots – ensuring ten days of thrilling action across 216 matches.

Nigeria’s women’s pair, Esther Mbah and Pamela Bawa have been drawn into a tough Pool C, where they will battle some of the sport’s elite – Nuss/Brasher (USA), Van Driel/Bekhuis (Netherlands), and Vitoria/Hegele (Germany).

The Nigerians face a stern test against the Americans’ trademark power play and the disciplined European sides. However, their recent progress on the African circuit, coupled with growing confidence and experience, gives them a fighting chance to make an impression on the world stage.

Egypt, the most represented African nation with two women’s teams, face a tough draw.

Marwa/Nada (Group B) will take on Carol/Rebecca (Brazil), Davidova/Khmil (Ukraine), and Konnik/Poiesz (Netherlands).

Mahassine/Dina (Group J) are up against Melissa/Brandie (Canada), Vieira/Chamereau (France), and Stam/Schoon (Netherlands).

Mozambique’s duo Vanessa/Mucheza in Group D will clash with Cannon/Kraft (USA), Ittlinger/Grne (Germany), and Placette/Richard (France) in what promises to be one of the tournament’s most challenging pools. Their qualification alone marks a milestone for women’s beach volleyball in Southern Africa.

In the men’s category, three African nations – Togo, Benin, and Morocco – will take on the world’s elite.

Togo’s Kotoka/Samani (Group H) face Perusic/Schweiner (Czech Republic), Plavins/Fokerots (Latvia), and Partain/Benesh (USA) – a baptism of fire for the Togolese, who are making their first-ever World Championship appearance.

Benin’s Yacoubou/Tohouenon (Group F) square off against Diaz/Alayo (Cuba), Pedrosa/Campos (Portugal), and Fuller/O’Dea (Australia) – a balanced group where teamwork could be Benin’s strongest asset.

Morocco’s Ilyas/El Gharouti (Group L) meet Nicolaidis/Carracher (Australia), Bassereau/Aye (France), and Grimalt/Grimalt (Chile) – a pool featuring regional favorites and experienced international campaigners.

Africa’s six-nation representation underlines the continent’s steady growth in beach volleyball, fuelled by increased zonal tournaments, training programs, and grassroots initiatives championed by the Confederation of African Volleyball (CAVB).

While the traditional powerhouses from Brazil, the United States, and Germany remain the favourites, Africa’s duos are eager to show that the gap is narrowing. The World Championship offers them not only exposure but also invaluable experience ahead of upcoming Olympic qualifiers.

As the countdown to November 14 begins, Adelaide is set to host a festival of sand, sun, and spikes – and Africa’s teams, led by Nigeria, will be out to prove that their place among the world’s elite is no accident.

FG launches National Digital Trustmark for online companies

The Federal Government has launched National Digital Trustmark for online companies in collaboration with key government institutions like the Corporate Affairs Commission, (CAC) the Central Bank of Nigeria, (CBN) and the Nigerian Communications Commission, NCC.

The Trustmark would curb online frauds, identity theft, scamming and forgery and ensure trust, competitiveness, integrity and confidence in Nigeria online and digital business platforms.

The Director General of the National Information Technology Development Agency (NITDA) Malam Kashifu Inuwa announced this in Abuja at a news conference, saying that the National Digital Trustmark has become imperative considering the concerns globally over online and e-commerce business activities with Nigerians and in Nigeria.

Inuwa said it was saddening for Nigerians to be classified as scammers and fraudsters especially in relation to how online businesses are conducted, stating that there were times citizens would make payments for goods online only to be blocked thereafter, or cases where whatever citizens purchased online were not delivered according to specifications.

He said the National Digital Trustmark is being facilitated by the German International Cooperation Agency (GIZ) and the National Association of Chambers of Commerce, Industries, Mines and Agriculture, (NACIMMA) to care of challenges in the sector.

He explained that it would come in form of a security seal granted by NITDA for certification and authentification of online or digital business outfits. The security seal would be embossed on the platforms, letters heads and pages for authentication and identification as true registered companies or entities operating in Nigeria with at least one known office.

He announced that the initiative, though not compulsory would come with charges depending on the size of the business entities and their areas of specialisations, while the portal would be open next for outfits to commence registration.

Inuwa announced at the conference which was attended by the president of NACIMMA, Engr Tijani Ibrahim and Representative of GIZ, Barrister Chinedu that the renewal of the Trustmark digital certification would be done yearly to ensure transparency and accountability of the entire process. He said both the public and private sectors with online businesses would be eligible for the security seal, emphasising that the initiative would eliminate fraud, scams and illicit transactions on Nigeria digital space.

He lamented that online frauds have given Nigeria a bad reputation on the global stage, stating that this happened even when it had been established that some foreign nationals were behind some of the frauds.

The President of NACIMMA, Engr Ibrahim who was represented by his Special Adviser on Digital Economy Trade Group Mr Suleiman A. Audu, said the seal mark a major step towards building a safer , more trusted and globally competitive digital economy for Nigeria.

He assured that NACIMMA in collaboration with other stakeholders especially SMEDAN, NAFDAC, SON, among others, would ensure seamless implementation of the policy, saying that it would be devoid of bureaucratic bottlenecks and other impediments.

Lesotho vs Nigeria: Chelle, Ekong tip Eagles to crush Crocodiles

Coach Eric Sekou Chelle, and team captain William Troost-Ekong have both emphasized focus, discipline and intensity as Nigeria face-off today with Lesotho in a crucial 2026 FIFA World Cup qualifying fixture in Polokwane, South Africa .

Speaking at the pre-match press conference yesterday, Chelle underlined the importance of approaching the encounter with total concentration, noting that unpredictable factors could shape the outcome of the game.

‘Things can happen during the game because of the weather, referees, injuries and so on. So we need to stay focused about what we want from this game,’ Chelle stated. ‘We must strive to get the three points and then think about the next game. Lesotho is a good team with a good coach. We must start the game very well and play it with high intensity and aggressiveness.’

Nigeria, who are looking to reignite their qualification hopes after a slow start to the campaign, face a confident Lesotho side that has proven difficult to beat at home. The Crocodiles held the Super Eagles to a 1-1 draw in Uyo earlier in the series and have shown steady improvement under their current manager.

Captain Troost-Ekong echoed his coach’s sentiments, stressing the team’s determination to approach the match with the same commitment and tactical discipline that earned them a strong display against South Africa in their last outing.

‘We are approaching the game the same way we did against South Africa. It is important for us to play to win and secure the three points,’ the former PAOK Salonika defender said. ‘We have to show Lesotho some respect knowing that they have done well in the group. They even picked a point against us.

‘It is going to be an important game for both teams. We are just focused on our preparations now and looking forward to the game tomorrow (today).’

With the stakes high and only a few matches left in the qualifying series, Nigeria know that nothing short of victory will suffice if they are to keep their World Cup dreams alive.

The Super Eagles are expected to field a strong lineup when they take on Lesotho today at the Peter Mokaba Stadium, with fans hoping for a convincing performance to restore confidence in the team’s qualification campaign.

NDIS records over N673m diaspora investment in 2024 – Dabiri-Erewa

The Nigeria Diaspora Investment Summit (NDIS) recorded over ?673 million worth of diaspora investment deals in 2024, according to the Chairman of the Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri-Erewa.

Dabiri-Erewa also revealed that since its inception in 2018, the Summit has contributed more than ?500 million to Nigeria’s local economy through payments to service providers, creatives, and small and medium enterprises (SMEs) engaged around the annual event.

Speaking at a media briefing ahead of the 2025 edition, she said the forthcoming summit aims to build on previous successes and further deepen diaspora participation in national development.

President Bola Tinubu is expected to serve as the guest of honour at the 8th edition of the Summit, which will take place from November 11 to 13, 2025, in Abuja.

This year’s event, themed ‘Fast-Tracking Regional and National Development by Mobilising Diaspora Investment,’ is projected to attract no fewer than 3,000 participants, both physically and virtually.

She said, ‘We are determined to build on this momentum. This year, we will continue to spotlight sectors critical to Nigeria’s transformation: Finance and Fintech; ICT; Creative Industries, Sports and Entertainment; Agribusiness; Healthcare; Education; Real Estate and Infrastructure; Manufacturing and Energy.’

Dabiri-Erewa added, ‘We are honoured that His Excellency, President Bola Ahmed Tinubu GCFR, President of the Federal Republic of Nigeria, will once again serve as the Special Guest of Honour, and we anticipate the participation of distinguished business leaders, diaspora investors, policy champions, and creative icons who continue to inspire confidence in Nigeria’s potential.’

Dabiri-Erewa informed that since its inception in 2018, the NDIS has become a trusted platform that fosters ‘direct, credible and impactful investments’ from the Nigerian diaspora into the local economy.

She highlighted the success of the 2024 edition, saying, ‘The last edition of the Summit, held in November 2024, showed just how much momentum NDIS has built over the years as it welcomed above 1,500 participants, both online and physically, including 236 investors, 1,197 business owners, and 168 government officials. Over the course of the Summit, a total of 56 pitches were presented across eight key sectors, which highlighted the creativity, determination, and entrepreneurial spirit of Nigerians. These ideas were not just pitched but attracted about 168 deals worth about N673 million.

‘The Creative, Entertainment, and Sport sector stole the spotlight with 39 deals, showing just how much talent and energy Nigeria has to offer. But when it came to big money, Infrastructure and Real Estate led the way, securing about ?201 million across 22 deals. Energy, though quieter with just four deals, still drew an impressive ?172 million. Agribusiness made its mark too, with 28 deals bringing in ?103 million. While the numbers are impressive, the true story lies in the impact these investments are having on everyday lives in Nigeria.

They are helping to create jobs for young people, giving them opportunities to learn new skills and earn a living. They are helping businesses expand their operations, reach new markets, and become more competitive. For example, GAIN Business Incubator raised over ?200 million to expand its operations. Xtralarge Farms secured international distribution deals through connections made at the Summit. Filmmakers like JohnMark Iyoo found mentors and pathways to bring Nigerian stories to a global audience.’

In addition, the NiDCOM Chairman noted that several state governments, including Ondo, Nasarawa, and Borno, have leveraged the Summit in previous years to attract investors and advance major development projects, such as Ondo’s port initiative, which later gained Federal Government approval.

She pointed, ‘These outcomes show that NDIS is more than a conference; it is a catalyst for enterprise and sustainable partnership.’

She therefore called on Nigerians in the diaspora and those at home to seize emerging investment opportunities through the Nigeria Diaspora Investment Summit (NDIS) and invest massively in Nigeria’s economic development.

She asserted that NDIS has grown beyond being a conference but as a catalyst for enterprise and sustainable development, which has fostered job creation, youth empowerment, and connecting Nigeria’s enormous talent pool to its development agenda.

Also speaking, Dr. Badewa Adejugbe-Williams, Chairperson of the Nigeria Diaspora Summit Initiative (NDSI), noted that over the years, the summit has served as a vital bridge, attracting investments and unlocking the vast potential of the diaspora for Nigeria’s development.

She added that this year’s theme aligns perfectly with the Renewed Hope Agenda, which seeks to diversify the nation’s economy and drive inclusive growth and sustainable development.

Dr. Adejugbe-Williams also encouraged new sponsors, investors, and media partners to amplify the message of the Summit and take advantage of the opportunities it presents.

Organised by NiDCOM with NDSI, the Summit connects Diaspora investors with local entrepreneurs across key sectors, including Finance and Fintech, ICT, Creative Industries, Sports, Agribusiness, Healthcare, Education, Real Estate, Infrastructure, Manufacturing, and Energy.

Firm delivers flats to subscribers

The Managing Director, Brass and Castles Homes, Peacemaker Afolabi, has said that about 28 million Nigerians lack shelter.

Afolabi said this while handing over 16 units of flats to individuals in Ilasan, Ikate, Lekki as part of its contribution to reducing housing deficits.

The units were the fourth in the last three years in the series of affordable homes to be delivered by the company.

Afolabi added that the flats which were purchased by individuals based on down payment of a token and subsequent installment payment policy will reduce housing deficit in Lagos.

He said 52 units had been delivered in the last three years, adding that there is ongoing construction of another 18 units which will allow more Lagosians to have access to affordable homes.

‘Today we are handling the units purchased from us. For us, we are here to solve the housing deficit. We know there is a shelter deficit in Nigeria to the tune of almost 28 million but as a company, we can only add our own quota to reduce it whether at advisory level or advocacy level or by building more units,’ he said Nigeria, there should be collaboration between government and the private sector.

Federal Govt asks tertiary institutions to account for unused TETFund cash

The Federal Government has asked tertiary institutions to submit reconciled reports of all unutilised funds received from the Tertiary Education Trust Fund (TETFund) within 30 days.

The government said the reconciled reports would be ‘jointly verified’ at the end of the submission.

Education Minister Olatunji Alausa said this at a meeting with heads of federal tertiary institutions, bursars and procurement directors on unutilised funds yesterday in Abuja.

The minister announced that at the end of the meeting, the Federal Ministry of Education would issue directives to ensure effective use of TETFund resources.

He said: ‘Education remains the bedrock of national development. As a nation, we commit substantial resources to strengthening infrastructure, human capital, research, and the learning environment across our tertiary institutions. TETFund plays a pivotal role as the vehicle through which the Federal Government channels support to our universities, polytechnics, and colleges of education.

‘However, one recurring challenge that has continued to undermine this investment is the existence of unutilised balances – funds released for specific projects or interventions that are either not deployed on time or not fully expended before new allocations are made. Over time, these idle funds represent lost opportunities – resources that could have improved laboratories, classrooms, ICT facilities, research centres, faculty development, and more, but did not, due to process delays, weak absorptive capacity, or compliance and accountability gaps.

‘Institutions must submit reconciled reports of all unutilised funds within 30 days, which will be jointly verified. Unused funds may be redirected to priority projects, and carrying them over without strong justification will no longer be allowed.

‘Procurement plans must align with approved interventions, and approvals should be fast-tracked to prevent delays.’

Alausa said the government would introduce capacity-building programmes to strengthen project management, compliance, and reporting, alongside mentorship initiatives.

The minister also hinted at the government’s quarterly reviews to track the progress and compliance with sanctions for institutions that fail to utilise funds effectively.

According to him, heads of institutions, bursars, and procurement directors will be held responsible for slippages.

Alausa said: ‘Finally, transparency will be enhanced through a public dashboard showing disbursement and utilisation data, and institutions will be required to publish project progress reports.

‘The success of this initiative depends on strong collaboration. TETFund must lead with professionalism, enforce compliance, and ensure transparency.

‘Institutional heads should drive urgency and accountability, while bursars, procurement officers, and project coordinators must plan and report diligently. Auditors and oversight bodies are expected to monitor activities and flag irregularities. All stakeholders must uphold a sense of stewardship, recognising that every TETFund naira represents public trust.

‘Let us seize this moment to turn the narrative around. Let unutilised balances no longer be a recurring embarrassment, but rather the catalyst for improved governance, greater productivity, and transformative impact in our tertiary education system.

‘Our students, faculty, and the future of our nation depend on it. With your cooperation, sincerity, and commitment, I am confident that every fund allocated will translate into tangible outcomes – classrooms built, laboratories equipped, research enhanced, faculty developed, and students empowered.’

EU promises deployment of Finland, Estonia software for Nigeria’s digital infrastructure

The European Union (EU) has promised to support Nigeria with the deployment of X-Road model of Digital Public Infrastructure (DPI) similar to the model deployed in Finland and Estonia.

Mr Gautier Mignot, Ambassador of the EU to Nigeria and ECOWAS, made this known in Abuja during the Nigeria GovTech Conference and Awards 2025 organised by the Bureau of Public Service Reforms.

The theme of the conference was ‘Redefining Possibilities: Harnessing Emerging Technologies for Public Service Delivery and Socio-Economic Development.’

The X-Road (DPI) is an open-source software framework that acts as a digital public infrastructure layer for secure, real-time data exchange between different information systems.

He announced that the initiative would be supported with the deployment of 90,000 extra kilometers of fiber optic cables, enhancing digital literacy, building skills, supporting digital transformation centres, coupled with their initial £8 million grants and loans for the development of the Nigeria Digital Economy Initiative.

Mignot said the model could connect all the public sector systems while ensuring data protection, and boost the country’s economic and social activities.

He said: ‘The model is done in a way that protects your data, in the sense that you are not really exposed to knowledge of your data beyond what is strictly authorised by the user.

‘The system prompts you, whether it’s about a school registration or your insurance or whatever, the system will help you follow up on whatever you need to do with the public authorities.

‘We are looking at it as it is applied in Estonia and Finland and other European countries.’

Dr Dasuki Arabi, Director-General of BPSR, said they had infused different initiatives to enhance digitalisation in government to improve efficiency.

‘Going further, we must now begin developing emerging technologies from artificial intelligence,machine learning to robotics, process automation and blockchain.

‘In partnership with the Nigerian Communications Commission, BPSR commenced this process about three years ago, and we are glad these things are now becoming part of the policies of federal government of Nigeria.

‘We are also actively working to integrate distributed ledger technologies into the operations of BPRS to simplify routine task, secure sensitive letter, optimise resource allocation for more effective service delivery,’ Arabi said.

According to him, we must invest in people, the true enablers of innovation and that is why we are committed to training over 500,000 public servants on digital literacy and emerging technologies, equipping them to manage and sustain these technologies for long term impact.

Also the Secretary to the Government of the Federation (SGF),Dr George Akume said major reforms were underway to strengthen interoperability of government platforms and enhance digital identity.

Represented by Mrs. Esuabana Nko-Asanye, Permanent Secretary, Ministry of Innovation, Science and Technology, Akume said digital governance required an enabling environment to strive and deliver target goals.

‘This is why government continues to prioritise policy and legal framework that foster aggregation, ensure data protection and encourage private sector participation, capacity building to equip public servants with digital skills for effective performance.

‘By digitising government services, we reduce the cost of living, ease of business, eliminate bottlenecks and create a transparent environment that attracts investment, create job opportunities and unlock the innovation potential of the ecosystem,’ Akume said.

Naira rallies as FX speculations drop, reserves cross $43b mark

For years, speculative trading in the foreign exchange (forex) market posed a major setback for the Nigerian naira, discouraging capital inflows and weakening the domestic economy. However, that trend is changing – and for the better. After a turbulent past marked by significant value loss, the naira is now showing strong signs of recovery, thanks to a mix of structural reforms and renewed investor confidence.

This recovery is being attributed to a range of interlinked factors – from a growing demand for the naira to a marked reduction in speculative trading. Equally important is the consistent rise in Nigeria’s foreign reserves, which currently stand at $43.05 billion, signaling improved economic confidence. Central to this turnaround are the far-reaching forex reforms introduced by the Central Bank of Nigeria (CBN) under the leadership of Governor Olayemi Cardoso. These reforms are beginning to yield significant results, particularly in curbing speculative practices and closing the gap between the official and parallel market exchange rates. The CBN has also intensified its commitment to stabilizing the currency by increasing foreign exchange supply to retail end-users, minimizing distortions in the market, and maintaining effective foreign reserves management.

The injection of liquidity into the forex market, combined with rising compliance with regulatory policies, has helped to ease the pressure on the naira and restore investor confidence. This renewed confidence is attracting more foreign portfolio investments and encouraging the participation of international oil companies, both of which are contributing to greater forex inflows. There is also growing interest from foreign investors, supported by improved market transparency, a more efficient FX framework, and strengthening macroeconomic fundamentals. As a result, Nigeria’s external reserves have continued to rise. CBN Governor Cardoso recently disclosed that the gross external reserves stood at $43.05 billion as of September 11, 2025, compared to $40.51 billion at the end of July 2025 – providing an import cover of 8.28 months and reinforcing the growing stability of the naira.

‘Similarly, the second quarter 2025 current account balance recorded a significant surplus of $5.28 billion compared with $2.85 billion in first quarter of 2025,’ Cardoso stated during the 302nd monetary policy committee meeting held this week in Abuja.

FX speculations dip

A Bureaux De Change (BDC) trader based in Marina, central Lagos, Garuba Sarki, said many dealers lost huge funds as they sold below purchase rates as exchange rate gap narrowed. ‘I know some BDC operators that sold dollars below the purchasing rate. This is expected to continue in the weeks ahead. Also, the expected dollar inflows to the economy will help strengthen the naira position against the dollar,’ he said.

Analysts at Commercio Partners, attributed the rally and gradual narrowing of the exchange rate gap to a combination of stronger demand for the naira, reduced speculative trading, and improved foreign reserves. Head of Research at Commercio Partners, Ifeanyi Ubah, expressed optimism that the positive sentiment would be sustained in the near term, supported by increasing external buffers. ‘Nigeria’s rising external reserves are reflecting a healthier external position for the country. With reserves strengthening, speculative activity subsiding, and oil earnings supporting inflows, many market watchers believe the naira’s current rally has a stronger foundation compared to previous cycles of volatility,’ he said.

However, other experts caution that sustaining this momentum will depend on the government’s ability to maintain macroeconomic discipline, boost crude oil production, and diversify export earnings. President, Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe, attributed the ongoing stability of the naira against dollar and other world currencies to the CBN’s policies. Gwadabe said key policies like the Foreign Exchange (FX) Code, rising investors confidence, and foreign direct investment supporting policies are effectively putting FX speculators in check. He said the FX Code implementation is comprehensively addressing various aspects of market conduct and practices. For instance, the policy authorises the CBN to establish and enforce directives regarding the standards for financial institutions under which FX deals are to be conducted.

Gwadabe said the code further entrenches transparency and accountability in the FX market, and continually sustain naira stability and rally. He also backed CBN’s position that all institutions engaged in the foreign exchange market must also provide the CBN with a detailed implementation plan outlining how they intend to achieve full compliance with the FX Code. This plans are expected to be formally approved and signed by the institution’s board of directors, and it must be accompanied by relevant extracts from the board meeting where the plan was reviewed and endorsed.

Cardoso, had at the launch of the Nigeria Foreign Exchange Code (FX Code), emphasised integrity, fairness, transparency, and efficiency as critical pillars for driving Nigeria’s economic growth and stability. He said that the FX Code was built on six core principles: ethics, governance, execution, information sharing, risk management and compliance, as well as confirmation and settlement processes. These principles, he explained, aligned with international standards while addressing the unique challenges within Nigeria’s foreign exchange market.

According to Cardoso, ‘The FX Code represents a decisive step forward, setting clear and enforceable standards for ethical conduct, transparency, and good governance in our foreign exchange market. The era of opaque practices is over. The FX Code marks a new era of compliance and accountability. Under the CBN Act 2007 and BOFIA Act 2020, violations will be met with penalties and administrative actions.’

Besides FX Code, the apex bank also introduced the Electronic Foreign Exchange Matching System (EFEMS), which has proven effective in other economies in enhancing the functionality of the foreign exchange market. The EFEMS was meant to check forex market distortions, eliminate speculative activities and instill transparency. The EFEMS, which is commonplace in developed and developing markets offers real-time information on currency rates, trading volumes, and market activity.

Additionally, the CBN lifted the 2015 restriction barring 41 items from accessing FX at the official market to enhance trade and investment. These reforms and developments reflect the bank’s commitment to creating an enabling environment for inclusive economic development. However, achieving macroeconomic stability requires sustained vigilance and a proactive monetary policy stance. Gwadabe, said the policy shifts showed the level of creativity, policy and hard work the Cardoso puts in ensuring that more forex flows into the economy and remain accessible to businesses.

How it started

Cardoso had upon assuming office in October 2023, prioritized reforms to rebuild Nigeria’s economic buffers and strengthen resilience. In the foreign exchange market, the apex bank faced a backlog of over $7 billion in unfulfilled commitments and a fragmented FX regime characterised by multiple forex rates, which had encouraged arbitrage opportunities. ‘Over the past year, we have undertaken critical reforms to unify Nigeria’s exchange rate, eliminating distortions and restoring transparency. This unification has enabled us to clear the outstanding foreign exchange obligations, giving businesses-ranging from manufacturers to airlines-the confidence to plan and invest in the future. To further enhance the functionality of the foreign exchange market, we are introducing an electronic FX matching system, which has proven effective in other markets,’ Cardoso said.

Foreign capital inflows to the domestic economy remains crucial elements in the drive to achieve monetary and fiscal policy stability. The apex bank is cultivating more sources of FX to increase dollar inflows, boost access to manufacturers and retail end users. From moves to boost diaspora remittances through new product development, the granting licenses to new International Money Transfer Operators (IMTOs), implementing a willing buyer-willing seller FX model, and enabling timely access to naira liquidity for IMTOs, the CBN has simplified dollar-inflow channels for FX dealers to boost business and economic growth.

Policies supporting remittances inflows

As part of its efforts to boost diaspora remittances and support naira stability, the CBN recently announced the introduction of two new financial products designed to serve Nigerians living abroad. The Non-Resident Nigerian Ordinary Account and the Non-Resident Nigerian Investment Account was created to streamline remittances, encourage investments, and foster financial inclusion among Nigerians in the diaspora. It said, ‘The Central Bank of Nigeria is pleased to inform the general public of the introduction of the Non-Resident Nigerian Ordinary Account and Non-Resident Nigerian Investment Account targeted at Nigerians in diaspora.’

The initiative is also expected to provide a secure and efficient platform for managing funds and investing in Nigeria’s financial markets. Since the beginning of this year, eligible NRNs have continued to get the opportunity to own any of the Non-resident Nigerian accounts. The Non-Resident Nigerian Ordinary Account was designed to facilitate remittances by allowing non-resident Nigerians to remit foreign earnings into Nigeria and manage funds in foreign currency or naira. Deposits from sources such as salaries, allowances, and dividends are supported, alongside spending on family maintenance, education, and healthcare.

On the other hand, the Non-Resident Nigerian Investment Account provides an opportunity for NRNs to invest in Nigeria’s financial markets, including foreign currency-denominated bonds, fixed deposits, and local assets like equities, government securities, and mortgage products. The CBN explained that both accounts offer currency flexibility, enabling holders to maintain balances in either foreign currency or naira. Account holders will also be able to convert funds between the two currencies at prevailing exchange rates through authorised dealers.

The CBN’s initiatives have supported continued growth in these inflows, aligning with the institution’s objective of doubling formal remittance receipts within a year. The remittances in the economy is expected to increase based on CBN’s ongoing efforts to bolster public confidence in the foreign exchange market, strengthen a robust and inclusive banking system, and promote price stability, which is essential for sustained economic growth. In a report: ‘Diaspora remittances: The power behind Africa’s sustainable growth’, Regional Vice President of Africa at Western Union, Mohamed Touhami el Ouazzani, said remittances may be measured through the movement of money, but their real impact is measured in lives changed. He disclosed that in 2023 alone, $90 billion flowed into Africa from its global diaspora, an amount that rivals the Gross Domestic Product of entire nations. He said that remittances symbolize deep ties that keep communities connected across borders. ‘Families with a breadwinner working abroad depend on these funds to provide vital support for day-to-day needs. They also build the foundation for broader financial stability,’ he said.

For remittances to be truly transformational, it begins with understanding and meeting people’s aspirations. Ensuring individuals who strive for more can send and receive funds, regardless of their financial status, is crucial. We must cater to diverse needs. ‘In a continent renowned for its entrepreneurial spirit, offering multiple channels for remittance access is key. Whether through bank accounts, digital wallets, mobile money apps, or cash pickups, this flexibility ensures that funds are delivered in ways that best suit local realities. Providing innovative and inclusive solutions empowers individuals to not only manage their immediate needs but also to invest in long-term growth opportunities,’ he added.

Kolade: A life of integrity, service and excellence

Dr Christopher Olusola Kolade, often called ‘Mr Integrity,’ passed away at the age of 92 on Wednesday. He was a teacher, broadcaster, corporate leader, diplomat, mentor, and moral compass.

Kolade’s life tells a story of character, courage, and unshakeable commitment to service.

Formative years

Born in Erin-Oke, Osun State, Kolade was raised in a home steeped in faith and discipline. From an early age, books, values and purpose defined him.

In the mid-1950s and as a young education officer under colonial rule, he taught and helped build the foundations of Nigeria’s educational system. That quiet beginning-rooted in discipline and service-foreshadowed the life of impact to come.

Voice of a nation

When Nigeria gained independence on October 1, 1960, the country needed not only leaders but voices. Kolade joined the Nigerian Broadcasting Corporation (NBC) in the early 1960s and rose steadily to become its Director-General from 1972 to 1977.

Those were turbulent years, yet under his leadership, broadcasting in Nigeria sought dignity, balance, and national coherence. He was not merely an administrator but a craftsman of public trust, shaping programming, mentoring broadcasters, and insisting that the airwaves serve the nation’s unity.

His calm authority, clarity of judgment, and moral steadiness became part of NBC’s institutional DNA.

Corporate leadership

In 1978, Kolade made a remarkable transition-from public broadcasting to the corporate world-joining Cadbury Nigeria Plc. There, he rose through the executive ranks to become Chief Executive and later Chairman of the Board.

His tenure remains a reference point for principled corporate leadership in Nigeria. He demonstrated that profit and ethics could coexist, and that accountability could thrive even in difficult times.

Colleagues recall his refusal to compromise integrity for expedience-a man for whom the right way mattered as much as the successful way.

Beyond Cadbury, he championed good governance across the private sector. He chaired the Convention on Business Integrity and other organisations devoted to transparency and accountability. His service as President of both the Nigerian Institute of Management and the Institute of Personnel Management further strengthened his reputation as a moral steward of the nation’s institutions.

Diplomat and builder of minds

In March 2002, the then-President Olusegun Obasanjo appointed Kolade as Nigeria’s High Commissioner to the United Kingdom.

For five years, he represented the nation with quiet grace, bridging cultures, deepening trade ties, and restoring dignity to Nigeria’s diplomatic image.

After his return, Kolade turned more deliberately to teaching and mentorship. From 1995 onward, he taught courses in Leadership, Corporate Governance, and Conflict Management at the Lagos Business School and the School of Media and Communication-both under the Pan-Atlantic University umbrella.

In 2009, he was appointed Pro-Chancellor and Chairman of the University’s Governing Council, and later served as Chancellor of McPherson University, Ogun State. Through these roles, he invested not only in structures but in minds. He believed education was the ‘long game’-a means to nurture generations of leaders who would place integrity above ambition.

Faith, character, and legacy

What defined Christopher Kolade most enduringly was his character. Across the decades, he was described as humble, gracious, and remarkably consistent. Even in advanced age, he remained dignified, modest, and uncorrupted by acclaim.

A devout Christian, he was Lay Canon Emeritus of the Cathedral of the Holy Spirit, Guildford, and a recipient of the Order of St. Augustine medal from the Archbishop of Canterbury in 1981.

His faith found expression in service: through the Christopher Kolade Foundation and the Christopher Kolade Centre for Research in Leadership and Ethics (CKCRLE), where he advanced education, youth development and public ethics.

He received the national honour of Commander of the Order of the Niger (CON) in 2000 and held honorary degrees from the University of Sierra Leone and McPherson University.

Yet these honours only confirmed what many already knew: that Kolade’s integrity was his highest decoration.

A statesman, moral guide

Kolade’s story is not merely a record of positions held; it is a lesson in moral citizenship. He showed that excellence need not compromise character, that leadership is service, and that influence rests not on titles but on trust.

His influence lives on in the institutions he strengthened-NBC, Cadbury, Pan-Atlantic University, McPherson University; in the students and mentees who embody his teachings in ethics and governance; in the foundations and research centres that continue to promote his ideals; and in public memory, which remembers him as a bridge across eras-colonial, independent, democratic-and as a compass through them all.

Final reflections

Christopher Kolade’s passing feels like the closing of a chapter in our national story. Yet he leaves behind pages of wisdom and a torch for others to lift. The fields he walked-education, media, business, diplomacy, civic ethics-are each richer for his footprints.

To honour him is to renew our own commitment: to a public life where honour matters, to institutions that serve people, and to young Nigerians shaped in both skill and conscience. The true memorial to Kolade will not be in monuments or medals, but in lives lived by his example.

Integrity was his language, service his signature, and excellence-tempered by humility-his lifelong creed.

Farewell, Christopher Olusola Kolade. The race is run, the course is true, and your light does not fade.

The strong voice for art, culture

The late veteran broadcaster, Christopher Kolade, was former Director-General, Nigerian Broadcasting Corporation (NBC).

Kolade, widely regarded as one of the architects of modern Nigerian broadcasting, spent decades shaping the airwaves and using them as tool to preserve culture, promote national identity, and set professional standards for the media.

He joined the NBC as West Regional Controller and rose through the ranks to become Director of Television in 1963 and Director-General in 1972. At a time when television was still in its formative years, he championed Nigerian content, insisting on programmes that reflected the country’s diversity and cultural depth.

Under his leadership, radio and television became vehicles for storytelling, with Yoruba theatre, Hausa folktales and Igbo music gaining nationwide attention.

In 1965, he initiated a folklore radio series that revived traditional stories for a modern audience.

During the civil war, he used music and drama broadcasts to promote unity, notably through the ‘Harmony Hour’ programme, which brought together different cultural sounds and voices from across the country.

He was known for his insistence on truth and integrity in broadcasting as he often reminded colleagues that the airwaves carried a responsibility to inform, educate and build trust.

He set professional standards that defined the golden era of Nigerian broadcasting, turning the NBC into a platform where culture and journalism co-existed.

His leadership went beyond Nigeria. Between 1973 and 1975, he served as President of the International Institute for Communications, advocating globally for media as a tool for cultural preservation and national development.

Kolade was also a strong supporter of the arts. He provided platforms for young playwrights and performers, including early works by Prof Wole Soyinka and other theatre pioneers. He saw broadcasting as more than news delivery- it was a cultural stage where art, music and performance could thrive.

Even after leaving the NBC in 1978, he remained a respected voice in media and arts. He later taught at Pan-Atlantic University and Lagos Business School, where he mentored young media practitioners and emphasized ethical storytelling.

His foundation, Christopher Kolade Foundation also supported cultural initiatives, theatre troupes and radio advocacy programmes, continuing his life’s work of linking art and communication.

In 2015, he published The Kolade Canons, a series of three volumes on African values, business and economy, nation building and ethics. The books also cover people, leadership and management.

The books, The Kolade’s Canons are published in three volumes containing what might best be described as Christopher Kolade’s ecclesiastical declarations over the last 40 years. The volumes contain first-class materials, based on highly cherished African values with foundations in universal principles, from a first-class mind.

This volume, Kolade’s Canons 2, focuses on Business and Economy, Nation Building and Ethics. Without sound ethics builders of lives, organisations or nations build on a false foundation.

The first volume, Kolade’s Canons 1, focuses on People, Leadership and Management.

In it he directs readers to enduring leadership principles which, if put into practice can lead to the transformation of individuals, enterprises and nations.

The third volume, Kolade’s Canons 3, is devoted entirely to Broadcasting, his second career start up.

The volumes are not textbooks but a collection of a refined gentleman’s speeches and teachings. They provide teachers, students, policy makers and policy executors deep insights to think and talk about, as well as test in the arena of practice.

The earliest papers date back 40 years, yet they remain relevant because they are principles-based; and because Dr. Kolade was also thinking for future generations. These publications were published by AuthorHouse.

Kolade: The diplomat

Kolade served as Nigeria’s High Commissioner to the United Kingdom from 2002 to 2007, earning widespread respect for his diplomacy as well as humility, and the integrity he brought to the high commission.

He came into the role with an established reputation for ethical conduct from his earlier career in broadcasting and at Cadbury Nigeria Plc.

He upheld this reputation during his diplomatic service, which many observers noted with respect.

Kolade showcased his expertise and integrity on the global stage, particularly during his tenure.

The late broadcaster was admired for how he carried Nigeria’s name abroad with dignity. His personal conduct was seen as an asset to Nigeria’s diplomatic image.

He worked to promote Nigeria’s interests abroad, leveraging his reputation for integrity and professionalism.

The former high commissioner to the UK was widely praised for his tenure’s emphasis on improving public service delivery, particularly for tasks like passport renewal, and for demonstrating ethical leadership through his personal simplicity and diplomacy. He fostered a more efficient working environment within the High Commission and earned widespread respect for his frugal and moral bearing.

Kolade’s primary focus was on delivering efficient, tangible services to Nigerians in the UK, rather than personal advancement or staff changes.

He streamlined processes, leading to significantly faster service delivery for tasks like passport renewal, which previously took months.

His tenure was characterised by his own simplicity and adherence to high moral standards, setting a positive example for his workers.

He was known for his effective diplomacy and respectful approach to his role.

The late Kolade’s distinguished career as a diplomat significantly enhanced the reputation of the High Commission leading to others adjudging him of representing Nigeria with distinction in the UK.

Footprints of a business, corporate governance colossus

He bestrode Nigeria’s business, corporate governance and human resources management space like a colossus. And when he passed on, aged 92 yesterday, elder statesman, diplomat, and boardroom guru, Dr. Kolade, sure left indelible marks on the sands of time.

The former Nigerian High Commissioner to the United Kingdom, who was globally acknowledged as the embodiment of ethical leadership, sat atop some of Nigeria’s largest and reputable corporations and institutions, where he became a study in business integrity, honesty, service, and excellence.

For instance, he was Chief Executive and later Chairman of Cadbury Nigeria Plc., Nigeria’s leading Fast Moving Consumer Goods (FMCG) company, specializing in confectionary and beverages. Today, Cadbury owes much of its reputation as a trusted consumer brand to Kolade’s strategic guidance, strong corporate governance, and business ethics.

Those who were privileged to work with him attest to his significant contributions to Cadbury in the areas of institutionalizing a process and system for human capacity development and empowerment, establishment of a pipeline for executive replacement, and instituting a culture and system for innovation research and development.

The renowned industrialist emplaced a robust management trainee scheme, an excellence awards scheme, and a system of formal and informal appraisals at Cadbury. He was also credited with creating a unique staff identification system that was uncommon in its simplicity and application and different from the focus on designations and functions.

Prior to his hugely rewarding charge at Cadbury, Dr. Kolade, who began his professional life as an Education Officer in the colonial era, worked as a broadcaster. He rose through the ranks, becoming Director General of the Nigerian Broadcasting Corporation. There, he championed professionalism and public-service values during a formative period for Nigeria’s media.

As a teacher, Dr. Kolade later taught corporate governance and human resources management at the prestigious Lagos Business School (LBS). The Erin-Oke, Osun State-born nonagenarian also taught leadership and conflict management at the School of Media and Communication (SMC), with company MDs, Chairmen and Directors as his students.

The LBS and SMC are schools of the Pan-Atlantic University, Lagos. Formerly a member of the university’s Governing Council, Dr. Kolade also served as Pro-Chancellor and Chairman of the Governing Council of Pan-Atlantic University. He also served as Chancellor of McPherson University, Ogun State.

A common thread that ran through Dr. Kolade’s career and stewardship was his knack for integrity, a trait that was evident in all the organisations he chaired, such as The Integrity Organisation Ltd GTE and The Convention on Business Integrity Ltd GTE. His dedication to integrity and ethical leadership was second to none, and will continue to be an inspiration for generations to come.

The Christopher Kolade Centre for Research in Leadership and Ethics (CKCRLE), launched in October 2013, is dedicated to transforming Nigeria and Africa through cutting-edge research in leadership and ethics.

The Centre empowers organisations to enhance performance and tackle critical challenges by promoting ethical leadership practices.

Dr. Kolade, who, in his lifetime, consistently insisted that leadership is a responsibility, not a privilege, was also the Founding Patron of the Nigeria Leadership Initiative (NLI), which cultivates values-driven leaders in Nigeria and abroad. And with a public life marked by competence without corruption, his sobriquet, ‘Mr. Integrity,’ has become a standard Nigerians will measure themselves against.

With a richly rewarding career that spanned broadcasting, business, diplomacy, higher education, and civil society, late Pa Kolade, easily Nigeria’s most principled public figures, also acquitted himself well in the public sector, where he was, for instance, appointed pioneer Chairman of the Subsidy Reinvestment and Empowerment Programme (SURE-P) in 2012 by erstwhile President Goodluck Jonathan.

He, however stepped down in 2013, citing the need to reduce energy-intensive commitments as justification. And that was when he celebrated his 81st birthday.

Other national and international organisations and institutions he led included The Nigerian Institute of Management, The Institute of Personnel Management of Nigeria, The International Institute for Communications, and The World Association for Christian Communication.

President Bola Ahmed Tinubu described Kolade’s passing as ‘agonising,’ saying he was ‘exceptionally brilliant, statesmanly diligent, and had unimpeachable integrity.’

He recalled his many humanitarian interventions through the Christopher Kolade Foundation, especially his support for sickle cell patients, a cause to which he donated a chunk of his earnings.

‘We must celebrate his life and legacy. He lived an exemplary life and immortalised himself in his uncommon service to our nation and humanity. He will remain an inspiration for us and for many generations. He was a representation of the true Nigerian, selfless and resilient,’ President Tinubu said.

Kolade The Artsman

The late Dr. Kolade is a man of many parts, one of which include the world of art.

The former High Commissioner to the Court of St James expressed his love for music at different fora.

In 2001, the National Council for Arts and Culture (NCAC) honoured him as one of the patriarchs of the culture community.

The late Dr Kolade’s love for the arts might have also stemmed from his days at the Nigerian Broadcasting Corporation (now the Federal Radio Corporation of Nigeria) where he rose through the ranks to become Director-General.

Until his demise, he was remembered for his professionalism, dignity, and insistence on ethical journalism while he was the DG.

The late Dr Kolade was close to the late Segun Olusola while they were alive. Their collaboration, it was said, helped lay the foundation for modern television and radio in the country.

Through the Christopher Kolade Foundation (CKF), which was launched in 1997, he rewarded individual achievement, innovation, and creativity in the field of music.

AHCN canvasses options for housing sector

As Nigeria marks World Habitat Day 2025, the Association of Housing Corporations of Nigeria (AHCN), led by its President, Eno Obongha, has called on governments to take bold steps toward addressing challenges confronting the housing sector.

Delivering the State of the Nation’s Housing Address themed ‘Urban Crisis Response’ in Abuja, Obongha described the situation as an unfolding urban emergency that has left millions of citizens struggling with unaffordable rents, the rapid expansion of informal settlements, and deteriorating living conditions in major cities.

‘The global economic crisis, which has culminated in inflation and a high cost of living, has taken a toll on our urban centres, with many city dwellers facing severe financial challenges. The loss of jobs and rising unemployment among the youth have resulted in unstable incomes and the inability to pay rent,’ he said.

Obongha further urged the Federal Government, state governments, and other relevant agencies to take swift, practical action to bridge the country’s housing deficit. He also emphasized the need for proper harmony and synchronization between state governments and the Renewed Hope Housing Agenda to elevate housing delivery nationwide.

‘The Renewed Hope Housing Agenda needs to be properly harmonized and synchronized with state governments, using state housing corporations as agents of delivery to take the agenda to the next level. This will no doubt open up the economy and help drive our recovery by creating employment opportunities for our teeming unemployed youth. Our young people deserve a future free of uncertainty. We envision a new Nigeria where housing becomes the engine of economic growth and that dream is achievable if harmonization is well coordinated and executed.’

Addressing the recurring issues of building collapse, demolition, and illegal construction, Obongha underscored the importance of enforcing building regulations and securing proper approvals before any construction work begins to prevent disasters.

‘Most of the buildings that collapsed were constructed without approval. Some had fraudulent approvals, while others were built on flood plains. The Town and Country Planning Law specifies zoning for buildable and non-buildable areas, but many people, out of frustration, ignore these rules and later face demolition or flooding. Regulations must be strictly enforced,’ he cautioned.

The AHCN, however, commended President Bola Ahmed Tinubu and the Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, for the ongoing reforms under the Renewed Hope Housing Programme, which has delivered more than 10,000 housing units across 14 states and the FCT in just two years, a milestone the association noted surpasses the previous administration’s eight-year record of 3,500 units.

Obongha also praised the reforms at the Federal Mortgage Bank of Nigeria (FMBN) and the Federal Housing Authority (FHA), noting that both institutions have expanded single-digit mortgage schemes, attracted over ?70 billion in private capital, and introduced new initiatives to enhance homeownership among Nigerians.

Concluding his address, the AHCN President called on the government to support ongoing housing initiatives through the provision of land banks, and to strengthen financial and institutional collaboration between the FMBN and the Family Homes Funds Limited (FHFL) in order to significantly reduce Nigeria’s housing deficit.