Category: Business Day

President Bola Tinubu has approved nine Nigerian companies to drive data credit infrastructure in Nigeria, as well as strengthen security.

The move, BusinessDay gathered, is aimed at strengthening security, local jobs and boosting the economy

The measure, coming in the wake of current security challenges, is seen as capable of further ending the exploitation of Nigerians.

The move is also expected to break the 12-year data credit monopoly by Optasia, a South African firm, that recently entered a legal battle with the Federal Competition and Consumers Protection Commission FCCPC, a federal government agency that protects consumers against exploitation and promotes competition

BusinessDay gathered that President Tinubu approved the firms in his efforts to enhance service delivery in the sector

A Presidency source said it was part of President Tinubu’s efforts to address ‘ a complex legal and regulatory issue, as well as foreign control, protection of indigenous consumers against unfair competition,

‘ The President also desires to protect the data of Nigerians, especially in the wake of recent developments around security

He stated that the President has vowed to ensure that everything needed to be done to protect Nigeria from either insecurity and unnecessary exploitation will be done’

Our source, who did not want his name in print, states that’such measures will also help the country create jobs for Nigerians and stop capital flights ‘

The companies which are based in Nigeria include: Technotrends Platforms Nigeria Limited, Coverage Broadband Limited; Fonyou Technologies Nigeria Limited; Total Tim Nigeria Limited and Rane Interactive Medien CLS Limited

Others are MRS Innovation Nigeria Limited,

Cloud Interactive Associate Limited, ERL Telecoms Service Limited and Mode NG Applications Nigeria Limited

It was gathered that the South African fintech and AI infrastructure firm, which operates in Nigeria through its subsidiary (Nairtime Nigeria Ltd), had sought and obtained an injuction from the Federal High Court, Abuja and Lagos, against mobile network operators (MTN and Airtel) to prevent them from suspending its airtime and data lending services.

The firm’s action was to block the FCCPC from carrying out reforms and enforcing its Digital, Electronic, Online or Non-Traditional Consumer Lending (DEON) regulations, which had resulted in telecom operators initially suspending ‘borrow airtime’ services.

Following the action of the firm, the FCCPC was said to have submitted a request to the President to end the foreign monopoly.

The President’s decision was also influenced by the report of the full investigation into the issue by the National Data Protection Commission NDPC, involving what ‘ privacy invading technology’, for credit scoring and marketing’ in breach of Nigeria’s data rights laws.

President Tinubu was said to have been swayed by the results of the investigation and the argument of FCCPC which also submitted the names of the nine firms to end the foreign monopoly and granted the approval

The Independent National Electoral Commission (INEC) has published three political parties and particulars of their candidates as eligible for Enugu North Senatorial District by-election scheduled for June 20, 2026.

The political parties and particulars of their candidates include: the All Progressives Congress (APC), Ikeje Asogwa; the People’s Democratic Party (PDP), Nestor Ezeme; and BOOT Party (BP), Chukwuebuka Aneke.

Reacting to the development at the weekend in Enugu, Chukwuemeka Chukwu, INEC’s State Resident Electoral Commissioner (REC), said that only three parties met deadlines for submission of forms and nomination documents through the INEC Nomination Portal.

According to him, with the timetable of activities approved by INEC for the by-election; June 2 remained the last day for submission of Forms EC9, EC9C, and other nomination documents by parties through INEC Nomination Portal.

‘At the close of nominations, three political parties successfully submitted the required nomination forms in respect of candidates they intend to sponsor for the by-election.

‘The political parties are: APC, Boot Party (BP), and PDP.

‘In accordance with the provisions of Sections 29(3) and 32(1) of the Electoral Act, 2026 (as amended), the commission has received and processed the nomination documents submitted by the political parties.

‘Consequently, the Forms EC9 (Personal Particulars of Candidates) and Final List of Nominated Candidates for the By-Election scheduled for June 20 shall be published by INEC in line with the Electoral Act and approved timetable of activities’, he said.

Chukwu advised members of the public, who wished to examine the particulars of the candidates to do so at the Commission’s notice board at its State Headquarters, Enugu during official working hours.

The REC said that the Commission remained committed to ensuring transparency and strict compliance with the Electoral Act in all stages of the electoral process.

He assured all stakeholders of a level playing field throughout the conduct of the by-election.

The by-election would hold in 1,488 polling units in six local government areas, which included: Nsukka, Igbo-Eze North, Igbo-Eze South, Udenu, Igbo-Etiti, and Uzo-Uwani.

Africa, which bears the world’s highest burden of sickle cell disease, is witnessing renewed momentum in efforts to improve survival outcomes, as the Africa CDC rolls out its Continental Sickle Cell Disease Plan. The initiative is designed to strengthen screening, expand access to treatment, and improve overall care across the continent. Livingstone Dogara is a physician-scientist and Associate Professor of Hematology at Kaduna State University, Nigeria. In this interview with Anthonia Obokoh, Dogara discusses the new continental strategy, key lessons from the Consortium on Newborn Screening in Africa (CONSA), Nigeria’s preparedness for implementation, and the critical role of primary healthcare systems, data infrastructure, and sustainable financing in advancing sickle cell disease management in Africa.

Africa carries the world’s highest sickle cell burden. How transformative is the Africa CDC’s Continental Plan for care and survival outcomes?

This marks a turning point in the fight against one of Africa’s most severe health challenges. It builds on work of the technical working group that was established in April 2025. The technical working groups had clear terms of reference and a plan for development. The idea is that this is a plan that will successfully be rolled out across Africa. This is not a new problem in Africa, but the continental plan gives us real hope that this will be successful in conquering or at least making significant strides in the treatment or management of sickle cell disease in Africa.

What does CONSA’s screening of 175,000 newborns and identified cases reveal about scaling newborn screening across Africa?

Wherever we start a clinic, we begin to see babies outside. We start clinic for the cohorts of newborn babies diagnosed through the CONSA programme, but we see the clinic overrun, and overtaken by other people living with sickle cell disease who did not have anywhere to go; and the clinics are in the primary healthcare system.

We’ve seen just eight clinics for screening and now we have over 20 clinics for screening and we have five clinics offering care at the community level for babies diagnosed through the CONSA programme. We are seeing what we are doing as a scale of project now. We can make this thing a routine service and we are actually seeing achievement. And we have seen that it is actually a scalable programme.

What are the biggest gaps in treatment access, specialist care, and health infrastructure, especially in rural communities?

Geographic access is a major gap: ‘Most initial structure of care the way it has been done here in Nigeria and Kaduna State. Most of the clinics are located within the tertiary academic hospital, that is the teaching hospital. And the teaching hospitals are quite far away from the rural communities.

Most of the teaching hospitals have a large registry, which is hospital-based registry. But it is nowhere near to the numbers of people living with sickle cell. The result is catastrophic underutilization: ‘In 2009 to 2011, pilot study that was done in Kaduna, led by the initial nucleus of what we’re doing in Kaduna. We noticed that our 4000 babies are delivered every year in Kaduna we live in with sickle cell. And 95 to 97% of people living with sickle cell that have never attended one post clinic.’

How can African countries sustainably finance sickle cell programmes while strengthening workforce capacity?

We need to start working with the primary healthcare development board. Right from day one, we work with them, and they allow us to use their facilities, and we have been using their facilities for screening and even starting the clinics now, and it is working.

The primary healthcare system and the beauty of the primary health system, they are naturalised. Over years, the HIV pandemic that came, the workforce got training on how to take samples. They got training on how to do some low-level monitoring. Health workers already have foundational competencies that can be developed further, and so it shows that they have capacity and they will be able to give us some help.

How prepared is Nigeria to align with the continental strategy, and what lessons can others draw?

Nigeria is ready. Why am I saying Nigeria is ready? It is because Nigeria is the country with a high burden of sickle cell, and the doctors, clinicians, researchers in Nigeria, are leading a number of high impact groups and consortium that are working towards in the standard of care.

If you look at the CONSA project, you see two sites in Nigeria, a part of the CONSA project. That shows readiness and capacity to be able to handle challenges. And if you notice at the possible levels, we are already part of the community, the health worker initiative. So, we’ve been doing some training into the community health workers.

We have a government that is ready to support, and we are looking at how to make our labs very sound and ready to be a reference to that for this screening. And importantly, there is a bill at the national level waiting to become a law. Whatever is going to establish centres of excellence, which are going to start with research to develop health system for sickle cell disease.

Also, it means budget is not going to be a problem for sickle cell. Usually, it is the area of budget that has been an issue. But now with the coming up of this bill, which is being supported mainly by members in the National Assembly who have noted the need for supporting people.

Fourth, Nigeria’s work is already being studied and replicated by others. It is the modest input steps that Nigeria is making because of the huge population of over 200 million. We have seen bodies coming in with structures that are working together. So, we are actually working in groups, like the ARISE, has its own consortium.

Africa is such an innovative energy, physical certification, which is working hand in hand with CONSA on the project. We have seen that, and we’ve seen the stroke prevention in Nigeria programme which a colleague of mine is leading. And the fact that we are involved in clinical trials, shows that we are ready. I think most of the new money coming into the market now, you will see Nigeria as part of the site.

How can improved data systems strengthen policy and patient outcomes?

Without registry, we will not have data to work with, we won’t be able to speak, and we cannot engage government for budgetary advocations. At the national level, integration is also happening through data systems.

The CONSA work is giving us a space to organize data for newborn screening. The federal ministry of Health in Nigeria is actually trying to integrate, and see how this pocket of activities go, and have one centralized, unifying platform to engage and discuss.

What key milestones should Africa expect over the next five to ten years under this plan?

Standardization of screening. It is one milestone that you are going to see. There is an ongoing discussion on how to create systems whereby the population studies, religious screening, come into the platforms, the IEA, the HBLC for the population screening.

With the facility base for newborn screening, with the point of their testing which we understand, each of them will come with own challenge or the other. So, you will see one of the milestones is the integration of this case of activity, this newborn screening, coming together to perform one national system. It will come from under one national system for Nigeria, and even for Africa.

Centralized data and registry systems are the second milestone. In terms of data, the CONSA work is giving us space to be able to organize data for newborn screening, but the Federal Ministry of Health in Nigeria is trying to integrate to have one centralized, a unifying platform. You are going to see screening and registry being organized in Nigeria, because without registry, we will not have data to work with.

The next key milestone that you will see in the next five years, is some form of budgetary support. And once the bill for the research centers for sickle cell comes through, this is something that we will see will be taking care of.

Cost-effective, centralized screening systems is the fourth milestone. The first thing is, the screening is going to take shape of what we are seeing working in other countries, the centralized type of screening which is eventually, it is going to be cost-effective for the country. That’s why it is working.

Kaduna’s work is becoming a reference point for others. Other places are beginning to engage Kaduna to see how they can develop their own.

Finally, workforce development is a continuing milestone. We are working towards having a team of health care providers. Other pockets of activities are going in. Under the ARISE project, we have done exchange training which is basically an educational programme. We have a number of healthcare workers that we’ve train on task shifting, like the nurses, to take care of some things.

We are working towards training some level of professionals so that we have multidisciplinary setup. We have people through the Africa project that have been trained in implementation science, and they have been trained in some other disease areas, for instance, cardiology. So, you will see these activities coming in galvanizing into such a way that it becomes organized and the single person has somewhere to go whenever there’s anything.

Nigeria’s foreign trade balance remained on the positive side, as trade surplus increased by 89 percent from N3.95 trillion to N7.5 trillion (year-on-year) in the first quarter of 2026, the National Bureau of Statistics data has revealed.

According to foreign trade report that was analysed by BusinessDay, the merchandise trade balance at N7.54 trillion, also indicates an increase of 340.88 percent compared to the value recorded in the preceding quarter.

The Bureau attributed the increase to a decrease in petroleum products imports and an increase in crude oil exports in the quarter under review.

Accordingly, in the first quarter of 2026, total imports were valued at N13.619 trillion accounting for 39.15 percent of total trade. While total exports accounted for 60.85 percent of total trade valued at N21.269 trillion.

The top-ranked group imports were machinery and transport equipment with N5.01 trillion representing 36.79 percent of total imports, this was followed by mineral fuels, with N2,648 trllion and Chemicals and related products with N2.020 trllion.

Nigeria imported goods mainly from Asia, valued at N7.551 trillion representing 55.45 percent of total imports. This was followed by imports from America valued at N3.236 trillion and Europe with N2.096 trillion or 15.39 percent while imports from Oceania stood at N79.86billion.

Imports from African countries stood at N654.94billion or 4.81 percent of total imports; of which imports from ECOWAS countries amounted to N65.91billion or 10.06 percent of imports from the continent.

Further analysis of Nigeria’s trading partners shows that imports from China were valued at N5.096 trillion, representing 37.42 percent of total imports. This was followed by imports from the United States of America, valued at N2.805 trillion, representing 20.60 percent of total imports; India, with imports valued at N992.87 billion; Germany, with goods valued at N390.35 billion, and the United Arab Emirates, with goods valued at N222.47 billion.

Also, exports by section revealed that Nigeria exported mainly ‘mineral products’ valued at , or 85.77 percent of the total export value, this was followed by exports of ‘Products of the chemical and allied industries’ with N1.393 trillion or 6.58 prrcent of total exports and ‘Prepared foodstuffs; beverages, spirits and vinegar;’ worth N745.74billion or 3.52 percent of the value of total exports.

Exports by region show that Nigeria exported goods mainly to Europe, valued at N7.925 trillion. This was followed by exports to Asia, valued at N6.417 trillion, Exports to America were valued at N2.614 trillion, while exports to Oceania were valued at N148.93 billion,

Exports to Africa stood at N4.062 trillion, of which goods exported to ECOWAS countries were valued at N2.202 trillion.

Analysis of exports according to trading partners revealed that during the quarter under review, the main export destination was India with a value of N2.771 trillion followed by exports to France with N1.966 trillion.

Exports to Netherlands stood at N1.951 trillion, Spain with N1.625 trillion and exports to The United States of America with goods valued at N1.177 trillion. ‘These five countries collectively accounted for 44.84% of the value of total exports in Q1 2026.’

By sector, the report showed that the total value of agricultural goods traded in Q1 2026 stood at N2 trillion, of which value of exports stood at N1.172 trillion.

‘The value of agricultural goods exports decreased by 31.20% compared to the value recorded in Q1 2025 (N1,704.15billion) and also decreased by 11.39% over the value recorded in Q4 2025 (N1,323.06 billion). This was dominated by ‘Superior quality Cocoa beans,’ valued at N596.90billion, ‘Sesamum Seeds ‘with N153.78billion and ‘Soya beans (excluding seeds)’ with N129.27billion, ‘Cashew nuts in shell’ valued at N119.76billion, and ‘Flours and meals of soya beans’ with N53.20billion,’ the report stated.

The data showed that agricultural products were mainly exported to Asia at N529.45billion, followed by exports to Europe, valued at N500.34billion.

Further analysis showed that ‘Superior quality Cocoa beans’ worth N228.36billion and N98.56billion were exported to The Netherlands and Belgium, respectively.

Similarly, ‘Sesamum Seeds,’ worth N76.55billion and N21.11billion were exported to China and Japan respectively.

While ‘Soya beans (excluding seeds)’ worth N113.86billion and N11.15 billion were exported to India and Canada,

respectively. On the other hand, total imports of agricultural goods in Q1 2026 stood at N827.72billion or 6.08% of total imports.

This represents a decrease of 20.09 percent when compared to the value recorded in Q1 2025 (N1.03 trillion)

and further decreased by 42.39 percent compared to the value recorded in Q4 2025 (N1.436 trillion).

The major agricultural goods imported in Q1 2026 included ‘Durum wheat’ from Russia and Canada, valued at N135.37 billion and N66.56 billion, respectively.

The global IT industry is undergoing a rapid transformation driven by cloud computing, data-driven decision-making, and enterprise-level digital modernization. Organizations are shifting away from traditional infrastructure and adopting cloud platforms to improve scalability, performance, and cost efficiency. As this transformation accelerates, the demand for certified professionals who can manage cloud environments and data systems has increased significantly. Certifications have become a reliable way for professionals to validate their skills and demonstrate their ability to handle real-world challenges in cloud architecture and database management. Many learners depend on structured preparation resources such as Test-King to strengthen their understanding and improve their readiness for certification exams. These platforms provide practice materials and exam-focused content that help candidates build confidence and technical expertise in Microsoft Azure technologies.

The Growing Importance of Cloud and Data Certifications

Cloud and data certifications are now essential for IT professionals who want to build successful careers in modern technology environments. As businesses generate massive amounts of data and rely on cloud systems for daily operations, the need for skilled professionals who can manage these systems has become critical. Certifications validate a candidate’s ability to design, implement, and manage cloud-based infrastructure and data solutions effectively.

Employers prefer certified professionals because they bring verified knowledge and practical skills that reduce operational risks and improve efficiency. Certifications also help individuals stay updated with the latest technologies, tools, and best practices in cloud computing and database administration. As organizations continue to invest in digital transformation, certified professionals will remain in high demand across various industries.

Understanding Azure Data Administration and Its Role in IT

Azure data administration plays a crucial role in managing and optimizing data systems within cloud environments. It involves designing, implementing, and maintaining databases that support business applications and analytics. Professionals in this field are responsible for ensuring data security, performance optimization, backup strategies, and high availability.

As organizations increasingly rely on data-driven insights, the role of database administrators has evolved significantly. They are no longer just responsible for maintaining databases but also for integrating cloud technologies and ensuring seamless data access across platforms. This evolution has made Azure data administration one of the most important career paths in modern IT.

Preparing for DP-300 Azure Database Administrator Certification

The DP-300 certification is designed for professionals who want to specialize in managing Microsoft Azure database solutions. It focuses on advanced skills such as database deployment, performance tuning, security management, and high availability configuration. Candidates must understand both traditional database systems and modern cloud-based solutions.

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Preparing for DP-300 requires hands-on experience with Azure SQL databases, automation tools, and monitoring systems. It is ideal for database administrators who want to transition into cloud-based environments and enhance their technical capabilities. The certification helps professionals gain deeper insights into optimizing database performance and ensuring secure data management in enterprise environments.

Exploring Azure Solutions Architecture with AZ-305 Certification

The AZ-305 certification focuses on designing cloud solutions using Microsoft Azure. It is intended for experienced IT professionals who want to specialize in solution architecture. This certification covers topics such as infrastructure design, identity management, security, data storage, and business continuity planning.

Solution architects play a critical role in designing scalable and secure cloud environments that meet organizational requirements. They must understand how different Azure services interact and how to build solutions that are both cost-effective and efficient. AZ-305 certification helps professionals develop the skills needed to design complex cloud architectures that support business growth and digital transformation.

The Role of Practice Resources in Certification Preparation

Preparing for Azure certifications requires more than theoretical knowledge. Candidates must also gain practical experience and become familiar with real exam scenarios. Practice tests, study guides, and mock exams are essential tools that help learners evaluate their understanding and improve their performance.

Platforms like Test-King provide structured learning resources that simulate real exam environments. These tools help candidates identify weak areas, improve time management, and build confidence before attempting certification exams. Regular practice also enhances problem-solving skills and ensures better retention of technical concepts.

Career Opportunities for Azure Certified Professionals

Azure certifications open doors to a wide range of career opportunities in the IT industry. Professionals with DP-300 or AZ-305 certifications are highly valued for roles such as database administrator, cloud architect, solutions engineer, and data engineer. These roles are essential in organizations that rely heavily on cloud infrastructure and data analytics.

Certified professionals often enjoy better job security, higher salaries, and increased opportunities for career advancement. As more companies migrate to cloud platforms, the demand for Azure experts continues to grow across industries such as finance, healthcare, retail, and technology. This makes certification a valuable investment for long-term career development.

Building Hands-On Experience for Real-World Success

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Read More: https://www.test-king.com/exams/AZ-305.htm

The Future of Cloud Architecture and Data Management

The future of IT is closely tied to cloud computing and data-driven technologies. As organizations continue to adopt digital transformation strategies, the demand for scalable, secure, and efficient cloud solutions will continue to grow. Azure platforms will play a central role in supporting these advancements.

Emerging technologies such as artificial intelligence, machine learning, and big data analytics are increasingly integrated into cloud environments. This creates new opportunities for professionals who specialize in cloud architecture and database management. Certifications will continue to serve as a benchmark for validating skills and ensuring industry readiness in this evolving landscape.

Frequently Asked Questions

What is the DP-300 certification about?

DP-300 focuses on managing and administering Microsoft Azure database solutions, including performance tuning, security, and deployment.

What is AZ-305 certification used for?

AZ-305 is designed for Azure solution architects who create scalable, secure, and efficient cloud infrastructure designs.

Why are Azure certifications important?

Azure certifications validate technical skills, improve job opportunities, and help professionals stay competitive in the IT industry.

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Practice exams help candidates understand exam formats, improve time management, and identify knowledge gaps before the actual test.

Is hands-on experience necessary for Azure certifications?

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Conclusion

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The opposition People’s Democratic Party (PDP) in Ebonyi State has expressed confidence that it would wrest power from the ruling All Progressives Congress (APC) in the 2027 general elections.

This followed the defection of Felix Igboke, former Commissioner for Project Monitoring and Evaluation to the PDP with 10,000 supporters.

Leaders of the PDP made the declaration at Onicha Local Government Area on Saturday during a reception organised in honour of Igboke, who recently resigned his appointment in the state government and formally returned to the party.

Speaking at the event, Ugochukwu Obasi, the Ebonyi South Zonal Chairman of the PDP, described the party as a formidable political force poised to reclaim power in the State.

He maintained that Nigerians and Ebonyi residents are yearning for change, alleging that the APC-led Administration had failed to meet the expectations of the people.

According to Obasi, the PDP has credible candidates contesting various elective positions in the 2027 elections and is optimistic of securing victories from the state House of Assembly to the National Assembly and the Government House.

Also speaking, Ovuta Herbert, the PDP Chairman in Onicha Local Government Area, claimed that the party enjoys widespread support across the State.

He criticised the present Administration, alleging that it had failed to deliver meaningful development projects, while commending Ifeanyi Odii, the PDP governorship candidate, for his philanthropic interventions in the State.

Eni Uduma Chima, the PDP candidate for Afikpo/Edda Federal Constituency, described Igboke’s return to the party as a sign of larger political realignments ahead of the 2027 elections.

He alleged that internal challenges within the APC had contributed to the growing wave of defections to the PDP.

Chima, who recently resigned his position as Chairman of the Fertilizer Chemical Company Board and left the APC, said he and other defectors chose to return to the PDP because of what he described as a more conducive political environment.

In his remarks, Igboke said he was returning to the political platform that nurtured his career, recalling that he served as a coordinator and council chairman under the PDP before joining the APC.

He announced that he was rejoining the party alongside more than 10,000 supporters drawn from Onicha, Ohaozara and Ivo Federal Constituency.

The former commissioner further expressed confidence in the PDP’s chances in the 2027 elections, describing Ifeanyi Odii, the party’s Governorship candidate, as a strong contender.

He urged party members to remain united and committed to what he called the task of returning the PDP to power in Ebonyi State.

Google has launched a new feature called Search Profiles, which offers creators and publishers a dedicated space to manage how they appear on Google Search.

It will also help audiences discover their content more easily across the web. The feature is initially rolling out in the United States.

For creators, Search Profiles function as a personalised hub within Google Search, which brings together content from multiple platforms into a single destination where eligible users can showcase their latest videos, articles, social media posts, website links, and professional information, making it easier for followers and potential audiences to find verified and up-to-date information about them.

One of the biggest advantages is greater control over search visibility. Rather than relying solely on Google’s automatically generated knowledge panels, creators can customise their profiles with a bio, avatar, website, social media accounts, and featured content.

Those who already have Knowledge Panels may see them enhanced with profile information and direct links to their Search Profile. Creators should also expect new opportunities for audience growth.

Users can follow creators directly from their Search Profiles, increasing the likelihood that content will appear in Google Discover, the personalised content feed available within the Google app. This could provide an additional channel for reaching audiences beyond traditional social media platforms.

The profiles include features such as pinned videos, recent posts, social links, and direct website connections, creating an experience similar to a digital portfolio or ‘link-in-bio’ page, but integrated directly into Google Search. However, not all creators will have immediate access.

At launch, eligibility is limited to creators aged 18 and above who have at least 100,000 followers on YouTube, Instagram, or X, or 300,000 followers on TikTok. Google said the feature will expand over time, and additional capabilities are planned in the coming months.

The rollout reveals Google’s growing emphasis on personal brands and creator identity within search results, and as search incorporates social content and AI-powered discovery tools, maintaining a strong and well-managed Search Profile could become an important part of audience growth, credibility, and content distribution strategies.

Levene Energy Holdings Limited has announced a strategic rebrand to Levene Energies Limited, alongside the appointment of new members to its Board, aligning with the Group’s evolution into a vertically integrated energy company committed to sustainable growth and industry leadership. The name change, approved by shareholders, reflects the company’s expanded footprint across the energy value chain, spanning solar solutions, trading, gas and power, upstream and engineering services.

‘Energy underpins economic growth and social progress, and it is now being reshaped by the global transition toward more sustainable solutions. Our journey is about embracing this change and expanding our role across the energy value chain. The move from Levene Energy Holdings Limited to Levene Energies Limited reflects who we are today and the direction we are taking for the future,’ declared Mr. Nzan Ogbe, Founder and Group Chief Executive Officer.

This name change is accompanied by a refreshed identity aligned with its long-term ambition to build a resilient and future-ready integrated energy company.

In parallel with the rebrand and expansion, Levene Energies has strengthened its Board with key appointments designed to support its next phase of growth. The additions bring critical expertise in governance, law, infrastructure, finance, and energy, positioning the company to execute its strategy as a more integrated energy business.

Daniel Agbor joins the Board as a senior legal and governance expert with over three decades of experience across corporate law, banking, and Board leadership. A former Managing Partner of Udo Udoma and Belo-Osagie, he has chaired and served on the boards of several leading Nigerian institutions, bringing deep expertise in corporate governance, financial structuring, and regulatory oversight.

Nneka Arowolo, an accomplished energy and commercial leader with a distinguished career at ExxonMobil. Her experience spans large-scale project execution, upstream strategy and advisory, supply chain management, and complex deal negotiations, providing the Board with strong insight into operational delivery and value optimization.

Yemi Osindero joins as a leading private equity expert and corporate strategist with over 25 years of experience across global investment banking and African markets. As Founder and Managing Partner of Uhuru Investment Partners, he brings strong expertise in capital allocation, deal structuring, and scaling businesses across sectors.

Eyo Ekpo brings extensive experience in infrastructure policy, regulation, and public-private partnerships. A former Commissioner at the Nigerian Electricity Regulatory Commission and Attorney-General of Cross River State, he has played a key role in Nigeria’s power sector reforms and continues to advise on large-scale infrastructure and energy projects.

With a strengthened Board and an expanded mandate across the energy value chain, the company is well positioned to play a more active role in delivering integrated energy solutions that are reliable, commercially viable and aligned with evolving market needs.

The rebrand to Levene Energies reflects this shift, underscoring a broader commitment to building a platform capable of supporting both current energy demands and the transition towards more sustainable solutions.

Accion Microfinance Bank has increased its dividend payout to shareholders after delivering a stronger financial performance in 2025, driven by growth in lending, customer deposits and improved operating conditions.

At its Annual General Meeting in Lagos, the bank announced a dividend of 35 kobo per share, amounting to N422.04 million, up from 30 kobo per share paid in the previous year.

The board said the higher payout reflects confidence in the bank’s earnings outlook while maintaining a strong capital base to support future growth.

Total equity rose to N7.77 billion as of December 31, 2025, from N7.1 billion a year earlier, remaining well above the N5 billion minimum capital requirement for national microfinance banks.

The bank’s borrowings stood at N8.25 billion, strengthening its funding capacity for continued lending to small businesses and retail customers.

Taiwo Joda, managing director and chief executive officer, attributed the improved performance to greater stability in the operating environment compared with the disruptions experienced in recent years.

‘There has been some measure of stability in the macroeconomic environment, and the market has been reasonably predictable. That stability enabled our customers to return to their businesses, improved market activity, and helped us serve them better,’ Joda said.

According to him, lower volatility in inflation and exchange rates helped both customers and businesses plan more effectively, supporting stronger loan demand and repayment performance.

The lender expanded its branch network during the year with new locations in Ilorin and Kaduna, as well as a second branch in Kano, bringing its nationwide network to 75 branches.

Joda said the bank remains focused on expanding access to credit for small businesses and entrepreneurs operating at the lower end of the economic pyramid.

‘We are in the business of granting loans to those at the lower end of the economic structure and helping them grow,’ he said.

The bank also intensified its digital transformation efforts, introducing a revamped USSD onboarding platform linked to the National Identification Number to simplify account opening and access to banking services.

Other initiatives included improvements to its WhatsApp banking platform, merchant payment solutions and digital savings products aimed at deepening customer engagement and deposit mobilisation.

Stephen Olalere, chief commercial officer, said the bank recorded strong growth across key performance indicators despite persistent inflationary pressures and naira depreciation.

He disclosed that the bank’s balance sheet expanded by more than 50 percent during the year, supported by growth in loan assets and customer deposits, while profit before tax also improved significantly.

‘Customers now require higher loan values to replace inventory due to rising prices. This has increased our loan volumes, even though operating costs such as salaries and expenses have also risen,’ Olalere said.

The bank also reported improvements in asset quality and risk management. Portfolio at risk across all categories remained below regulatory thresholds, with PAR 1 closing at 4.3 percent, the first time the institution has achieved that level.

Looking ahead, management expressed confidence in the bank’s growth prospects for 2026, citing plans to deepen technology investments, expand customer acquisition and strengthen transaction banking capabilities.

Peter Okordion, head of business transformation, strategy and innovation, said the bank plans to deploy at least 2,000 merchant devices to boost transaction volumes and support low cost deposit mobilisation.

‘Our focus is to enable customers and businesses through embedded finance and digital tools that support growth,’ he said.

As part of its social investment efforts, the bank contributed more than N279, 150 to community development projects during the year and is marking its 20th anniversary with activities across its branch network nationwide.

KPMG, the bank’s external auditor, issued an opinion on the 2025 financial statements, stating that they present a true and fair view of the lender’s financial position and comply with relevant regulatory requirements.

The federal government has introduced stricter controls on the use of imprest funds across ministries, departments and agencies (MDAs), capping reimbursable cash advances for ministers at N700,000 and imposing tighter reporting and compliance requirements as part of efforts to strengthen fiscal discipline.

The measures are contained in the 2026 Annual General Imprest Warrant signed by Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, and communicated through a treasury circular issued by the Office of the Accountant-General of the Federation on June 3.

The fresh move is part of a broader push to strengthen oversight of government spending after years of concerns raised by auditors and oversight bodies over weak controls, delayed retirement of cash advances and the misuse of public funds through imprest accounts.

Under the new framework, ministers will be eligible for a maximum reimbursable imprest of N700,000, while permanent secretaries and directors-general will be limited to N500,000.

Directors and heads of departments can access up to N300,000, while heads of federal formations in states and other authorised imprest holders will be restricted to N100,000.

The directive authorises accounting officers across the executive, legislative and judicial arms of government to approve funds for eligible holders, while establishing clearer spending limits and accountability measures for managing public resources.

‘The limit of reimbursable imprest shall be N700,000 for ministers, N500,000 for permanent secretaries and directors-general, N300,000 for directors and heads of departments, and N100,000 for heads of formations and other authorised holders, according to the circular signed by Shamseldeen Ogunjimi, Accountant-General of the Federation (AGF).

Imprest refers to cash advances granted to public officials to meet routine and urgent government expenses that may not require the full procurement process. Under Nigeria’s financial regulations, beneficiaries are required to account for expenditures with supporting documentation and retire outstanding advances before obtaining fresh approvals.

In a move aimed at curbing the frequent recycling of such advances, the government also restricted the rate at which imprest can be replenished.

Reimbursements will generally be limited to once every quarter and may not exceed two reimbursements within the same quarter except in exceptional circumstances.

The administration further tightened procurement rules by directing ministries and agencies to process purchases exceeding N1 million through formal contract awards in line with existing procurement laws.

‘All local procurement of stores and services costing above N1,000,000 shall be made only through the award of contracts, except as otherwise provided by the Public Procurement Act,’ the circular stated.

To improve oversight, all self-accounting ministries, extra-ministerial departments and agencies have been instructed to submit returns to the Office of the Accountant-General within 30 days.

The reports are expected to detail how imprest allocations granted in 2025 were retired and provide updated lists of approved imprest holders for 2026, including their locations and designations.

The government is also requiring imprest holders to operate dedicated bank accounts for such transactions in line with the federal government’s electronic payment policy.

Monthly statements showing funds credited to the accounts and evidence of retirement of expenditures must be submitted to the treasury authorities.

The Accountant-General’s office said compliance will be monitored through routine inspections by the Treasury Inspectorate Department throughout the financial year.

Officials who fail to adhere to the regulations risk losing the authority to issue imprest and may face additional sanctions.