Category: Business Day

Lagos hospitality and lifestyle businesses are increasingly looking beyond social media visibility for customer retention, repeat patronage and technology-driven engagement. This

was a central theme at Awari Business Connect (ABC) 2026, where Awari unveiled an

expanded technology platform designed to connect consumers with the businesses and

experiences shaping the city’s lifestyle economy.

Held on October 16 at the Radisson Blu Anchorage Hotel, Victoria Island, Lagos, the event

brought together entrepreneurs, hospitality operators, tourism stakeholders, technology

companies, creators, and government representatives to explore growth opportunities in

the city’s expanding lifestyle sector.

Formerly known as the lifestyle discovery and media platform Lost in Lagos, Awari is evolving into a technology ecosystem that helps consumers discover places, events, and experiences while equipping businesses with tools to attract, engage, and retain customers.

The event showcased this evolution through product demonstrations, industry conversations, and announcements, including a partnership with the Lagos State Government’s tourism authorities and the introduction of the Awari Loyalty Network

(ALN).

Speaking at the event, Tannaz Bahnam, founder and chief executive officer of Awari, reflected on the company’s 16-year journey and its evolution alongside Lagos’ growing cultural and commercial influence.

‘For 16 years, we have been learning how people explore their cities and what businesses need

to reach them. As the world increasingly looks to Lagos for its art, music, fashion, food, culture

and creativity, Awari brings those lessons together in a new way.

‘We are moving from helping people discover where to go to building an ecosystem that helps

them experience more of their city and helps the businesses behind those experiences grow,’ Bahnam said.

Awari Business Connect is about connection because our restaurants, stores, creators, and

entrepreneurs are what make a city worth discovering. In many ways, you are Awari.’

The platform’s expanded capabilities address a challenge facing businesses across

restaurants, hotels, entertainment, wellness, retail and other lifestyle categories: turning

consumer interest into transactions and lasting relationships.

Oladapo Bolarinwa, head of Technology and Co-Founder of Awari, explained that the

platform was developed to address these challenges by bringing discovery, engagement and

business tools into a more connected environment.

‘Businesses are constantly competing for attention on conventional social media platforms,

where their content sits alongside influencer posts, entertainment and breaking news. Even

when customers show interest, businesses still have to manage enquiries across different

channels before that interest translates into a transaction.

‘Awari is designed to give businesses a more intentional environment where customers can

discover their offerings and engage with them. By bringing visibility, promotions, ticketing

and loyalty tools together, we want to help businesses move beyond being seen to building

stronger customer relationships and encouraging repeat patronage.’

Through features including Awari Social, Explore and Ads Manager, businesses can

showcase their offerings, publish promotional content and reach potential customers. The

platform also features Ask Awari, an AI-powered discovery tool that helps users find

recommendations and information, and Awari Assist, designed to help businesses manage

customer enquiries and facilitate transactions.

Additional capabilities, including bookings, ticketing, promotions, customer insights and

loyalty incentives, support the broader objective of connecting consumer discovery with

business growth.

A key announcement at ABC 2026 was the introduction of the Awari Loyalty Network,

scheduled to launch in January 2027. The platform is designed to connect corporate loyalty

programmes, lifestyle merchants and customers, creating opportunities for consumers to

redeem loyalty benefits across participating businesses. For merchants, the network offers

a potential route to reach new customer segments and encourage repeat spending beyond

their individual establishments.

The event also highlighted Awari’s partnership with the Lagos State Government’s tourism

authorities, reflecting a shared ambition to strengthen Lagos’ position as a global lifestyle

destination. As the city attracts growing attention for its hospitality, food, fashion, music,

arts and entertainment, collaboration between government and private-sector businesses

will be important in improving the visibility and accessibility of its diverse experiences.

Through ABC, the company aims to create a platform for practical conversations,

partnerships and technology adoption among the businesses contributing to Lagos’ lifestyle

economy. The 2026 edition reinforced the importance of connecting discovery with

customer experience and retention, while demonstrating how technology can support

businesses as they compete in an increasingly dynamic market.

The Abia State Government has announced plans to host the 2026 edition of AfrICANDO, the United States of America-Africa Trade and Investment Conference and Expo, scheduled for November 17 to 19, 2026, at the International Conference Centre, Umuahia.

The event, which will bring together government officials, business leaders, investors, policymakers, development institutions and other stakeholders from the United States and Africa, is expected to provide Abia with an international platform to present its investment opportunities and position itself as an emerging destination for trade, innovation and industrial development.

AfrICANDO 2026 is being hosted by the Abia State Government and co-organised by the Foundation for Democracy in Africa (FDA) and the Abia Global Chamber of Commerce.

According to Ferdinand Ekeoma, Special Adviser to the Abia State Governor on Media and Publicity, the conference, which returns to the African continent, is themed ‘Deepening U.S.-Africa Commercial Ties in the Era of AfCFTA.

‘It is designed to strengthen commercial cooperation, promote cross-border trade and investment, and explore opportunities arising from the African Continental Free Trade Area (AfCFTA).

He said that the conference will provide a unique opportunity for Abia State to showcase its economic potential to the international community, establish strategic partnerships and attract investors to its productive sectors.

AfrICANDO 2026, according to Ekeoma, will feature plenary sessions, policy forums, sector-specific workshops, business-to-business matchmaking, exhibitions and the Medal of Glory Awards (MOGA) Gala Dinner.

He said that the activities are expected to facilitate meaningful engagement among public and private-sector stakeholders while encouraging partnerships capable of generating sustainable economic benefits.

Key sectors to be featured include agriculture, consumer goods, energy, financial services, healthcare, manufacturing, transportation and logistics, academic science and technology, and artificial intelligence. Participants will explore practical ways to accelerate the implementation of AfCFTA, expand U.S.-Africa trade and investment, improve the export readiness of small and medium-sized enterprises (SMEs), and promote innovation, manufacturing and the creative industry.

The conference is also expected to provide opportunities for entrepreneurs and business owners to identify new markets, connect with potential investors, gain insights into international trade regulations and establish commercial relationships with counterparts in the United States and other African countries.

SMEs and civil society organisations will have opportunities to build business linkages and partnerships with U.S. companies, thereby contributing to the expansion of trade, investment and cultural relations between both regions.

It is important to add that beyond the conference sessions, the event is expected to create opportunities for investors and business leaders to assess the state’s economic environment, engage relevant stakeholders and explore possible areas of collaboration.

The event will also offer sponsorship, advertising and exhibition opportunities for businesses, corporate organisations and development institutions seeking visibility among government officials, investors and industry leaders from Africa and the United States.

With its emphasis on trade facilitation, investment promotion and international partnerships, AfrICANDO 2026 is expected to strengthen Abia State’s engagement with the global business community and create opportunities for local enterprises to access wider markets.

Ekeoma noted that the hosting of the conference aligns with the broader objective of positioning Abia, as a competitive destination for business, investment and industrial growth, while showcasing the state’s capacity to host international engagements.

As preparations gather momentum, the three-day conference is expected to place Umuahia at the centre of conversations on U.S.-Africa commercial relations and provide a platform for Abia State to demonstrate its economic strengths, connect local businesses with international opportunities and deepen its participation in the expanding African and global marketplace, Ekeoma stated.

No fewer than 40 persons have been reportedly killed in an attack on Binnari Village in Karim Lamido Local Government Area of Taraba State, Nigeria, by yet-to-be-identified gunmen

The incident occurred on Friday afternoon, shortly after the Muslim Juma’at prayers. Unconfirmed reports put the number of casualties at at least 40 people.

BusinessDay gathered that while Amnesty International also put the casualty figure at 40, local police in Taraba State put the figure at 10 before more bodies were recovered.

BusinessDay also gathered that many of the residents were reportedly missing, while some were injured, from the attacks.

Reports indicated that the armed men arrived in the community in large numbers on about 50 motorcycles, with each bike carrying two attackers. It was gathered that they opened fire indiscriminately, while also setting homes, shops, and food supply stores ablaze.

They also resorted to looting cash, provisions, and abandoned motorcycles, as they fled the town. Amnesty International have however, criticised the Nigerian government for a slow response, noting that the rural communities and vulnerable areas were abandoned to armed criminal gangs (‘bandits’) who operate with high levels of impunity.

The attackers invaded the village with heavy gunfire and looted food items from shops, police said.

Recall that many Northern communities have consistently experienced a surge in attacks by heavily armed criminal gangs, known locally as bandits, who raid villages, abduct residents for ransom and steal livestock.

The Nigerian military is, however, yet to officially provide information on the attack.

Taraba State, located along the Nigeria-Cameroon border in the North Eastern part of the country, also has one of the largest forest reserves known as the Gashaka Gumti Forest Reserve.

Several leaders in the region have called on the federal government to protect the region against terrorists who constantly raid the region and retreat to the unmanned spaces within the state.

Nigeria’s banking industry has spent years rebuilding capital, restructuring institutions and celebrating stronger financial performance. Amidst all these developments, one fundamental question remains unanswered. The concern is how much of this financial strength is translating into productive investment, affordable credit, business expansion and employment.

The worry has grown more urgent after the Central Bank of Nigeria’s recapitalisation exercise, which brought in N4.65 trillion in equity. By the end of March 2026, 33 of the country’s 37 banks had met the updated capital requirements. The exercise aimed to strengthen the system, improve resilience, and boost banks’ ability to finance economic growth.

But raising capital is not the same as expanding productive credit. A stronger balance sheet is not automatically a stronger economy.

One thing that is certain is that Nigeria’s banking industry is not short of institutions, financial expertise or regulatory reforms. As reality stares at Nigerians, the more difficult question is whether its growing financial capacity is being converted into financing for businesses that produce goods, create jobs, process local raw materials and expand the country’s export base.

Experiences from Morocco’s Attijariwafa Bank, Kenya’s Equity Group Holdings and Togo-headquartered Ecobank Transnational Incorporated offer useful benchmarks. Their institutional development, customer reach and regional operations provide different perspectives on the possibilities of modern African banking. They are not perfect models, and their operating environments differ from Nigeria’s. Nevertheless, their experiences offer a basis for asking whether Nigerian banking reform is delivering enough economic value beyond financial-sector growth.

The real test of recapitalisation is not simply how much capital banks have raised. It is what that capital ultimately enables them to do.

The first question is straightforward: what does a stronger capital base mean or the benefit of strengthening banks’ capital if productive businesses still struggle to obtain credit?

Capital is essential to and the backbone of banking. Amidst its many functions, it helps banks absorb losses, meet regulatory requirements, handle larger transactions and maintain customers’ confidence in their ability to keep their money safe. Nigeria’s recapitalisation exercise was therefore important. But its economic benefits depend partly on how banks deploy their expanded capacity.

The IMF’s May 2026 assessment, with clarity reviewed developments through the first quarter of 2026, found that private-sector credit remained relatively low, at approximately 12 per cent of GDP in 2025. It also observed that, despite growth in lending, which was obviously a huge contradiction, Nigeria’s financial markets were not adequately intermediating domestic savings into productive investment.

This is a more revealing measure of the challenge than the amount of capital raised alone. From the playout of activities, it is obvious that the banking industry can expand its balance sheets without financing a sufficiently broad range of businesses. Established and bigger corporations may obtain credit while smaller manufacturers, agricultural processors and emerging enterprises struggle with high interest rates, collateral requirements and short repayment periods.

The question is not whether Nigerian banks lend. They do. The question is whether the scale, cost and distribution of that lending adequately serve an economy seeking to diversify beyond oil, expand manufacturing and create sustainable employment.

Kenya’s Equity Group Holdings provides a useful point of comparison as this is discussed further. In a real sense, its success in attracting customers, using digital channels and supporting small businesses shows how banks can serve more people while keeping lending risks under control.

The lesson is not that Nigerian banks should simply copy Kenya. No doubt, Nigeria has different economic conditions, regulatory requirements and credit risks that may not apply to Kenya. Rather, the point is that recapitalisation should create opportunities to deepen lending, develop better products and improve the effectiveness of financial intermediation. It should not become a regulatory milestone celebrated independently of its economic consequences.

The second question is perhaps the most consequential: are Nigerian banks financing enough small businesses to make a measurable difference to the real economy? Here, the evidence deserves particular attention.

Findings showed that Equity Bank Kenya’s third-quarter 2025 investor booklet reported that the bank disbursed KSh90.7 billion ($701,255,970) in MSME loans between January and July 2025. Meanwhile, the amount represented 45 per cent of the KSh201 billion ($1,554,044,999) in MSME loan disbursements reported across the Kenyan banks included in its comparison. The booklet attributed the industry comparison to the Kenya Bankers Association.

This is a significant indicator of Equity Bank’s participation in Kenya’s MSME financing market. It suggests that a bank can make small-business lending a prominent part of its commercial activities while operating in a competitive banking system. Whilst Nigeria’s figures raise a different concern.

A research note published in October 2026 by the Development Bank of Nigeria, citing the CBN statistical data, noted that credit classified to small-scale enterprises amounted to a meager and paltry N177.44 billion in 2025, when compared with enormous total private-sector credit of N47.10 trillion. The small-scale-enterprise category consequently represented approximately 0.38 per cent of private-sector credit. The same research note showed that the category’s share had declined substantially from its historical levels.

The figures deserve serious scrutiny. They suggest that Nigeria’s banking system has expanded enormously without a corresponding increase in the relative weight of credit recorded for small-scale enterprises.

However, the comparison requires an important qualification. Equity’s KSh90.7 billion ($701,255,970) represents loan disbursements over seven months, whereas Nigeria’s N177.44 billion ($132,417,910.45) represents an outstanding-credit measure for a narrower statistical category. The figures are not directly comparable, and they cannot establish that Equity’s lending performance is superior to that of every Nigerian bank. Nor should Nigeria’s small-scale-enterprise category automatically be treated as equivalent to the entire MSME sector.

That limitation does not invalidate the question. It makes the case for better Nigerian data even more compelling.

Why should a country with a large banking market lack sufficiently clear, consistently reported evidence of how much commercial-bank credit reaches smaller productive enterprises? Why should the industry’s recapitalisation achievements get more attention than giving credit to businesses that keep people working and create jobs?

Small businesses really struggle to get financing. They often don’t have things like collateral, checked financial records, long credit histories or steady income. Banks need to think about these risks. Lending without checking can lead to loans not being paid back, hurting the bank’s money and putting depositors in danger.

But risk management should not become a permanent justification for leaving viable businesses outside formal credit.

The fact is that Nigerian banks could use cash-flow-based lending, supply-chain finance, invoice discounting, purchase-order finance, movable-asset collateral and credit guarantees. Nigerian banks would benefit from using verified transaction data to spot businesses that’re truly strong instead of borrowers whose repayment ability is very weak.

The objective is not to compel banks to lend recklessly. It is to make responsible lending to smaller businesses more commercially viable.

The CBN must also ask for reports on SME lending, such as how many borrowers are active, how many new loans are given, how much money is still owed, what the typical loan size is, what interest rates are used, when loans are due and how well payments are made. Without this data, the country cannot properly determine whether recapitalisation is truly helping people get credit. The CBN needs data to see if the plan is working.

The third question follows naturally: if Nigerian banks are profitable, why is their success not more visible in the productive economy?

Bank profitability is essential. Shareholders put in money to get returns. Depositors want their money to stay safe. Regulators want institutions that can handle economic times. There is nothing bad about banks investing in government securities or other easy-to-sell assets.

The real worry is how the financial system’s rewards and rules shape where capital goes. It’s about whether money flows toward government borrowing or toward private businesses. That balance matters. How the system rewards choices can tilt capital one way or the other. That can affect economic growth and opportunity.

The CBN’s official Money and Credit Statistics provide a useful snapshot. In July 2026, private-sector credit stood at approximately N83.43 trillion, compared with N83.26 trillion in June. Net credit to government declined from approximately N40.03 trillion in June to N33.92 trillion in July. These are the latest monthly observations displayed in the official CBN series retrieved for this article, rather than figures extrapolated from media reports.

The figures do not establish that banks deliberately abandoned businesses or that every reduction in government credit necessarily results in additional private lending. They show that the composition of domestic credit changes over time and should be examined using consistent data.

The IMF’s 2026 assessment identified banks’ holdings of government securities, high cash reserve requirements and structural constraints as factors limiting private credit. When looking at the data, it is clear that government securities made up 22 percent of banks’ total assets. Government securities can give banks liquidity, steady income and a risk-return profile that is fairly attractive. Lending to businesses can bring credit risk, expensive monitoring and uncertainty about repayment. Where government borrowing offers attractive returns, banks have commercial reasons to allocate resources towards sovereign instruments.

The policy concern is not that banks should abandon government securities. It is whether the overall balance of incentives enables enough financing to reach viable private businesses.

Monetary policy also matters. High reserve requirements can constrain the funds available for other uses, although reducing them would not guarantee that the released funds would become productive loans. Credit risk, inflation, the cost of funds and the condition of individual businesses would continue to influence lending decisions.

This is why the CBN and the fiscal authorities must examine the combined effect of monetary policy, government borrowing and prudential requirements on credit allocation.

Morocco’s Attijariwafa Bank is another reference point. Its published 2025 consolidated figures show assets of approximately MAD795.5 billion ($80,580,000,000) and customer loans of MAD447.9 billion ($45,370,000,000). The group operates across markets and has built a large customer base over time.

Those figures do not prove that Morocco has eliminated its financing challenges. They provide a basis for studying how a bank grows a lending franchise, builds customer relationships and expands its operations across markets.

For Nigeria, the concern is whether banking-sector growth is matched by a corresponding expansion in lending rather than being judged mainly by profits, assets and capital raised.

The fourth question concerns regional influence: why should Nigeria’s banking scale not translate into greater financial leadership across Africa?

Nigeria has a large domestic market, internationally connected businesses and banks with experience in corporate finance, digital banking and cross-border transactions. Some Nigerian institutions have established substantial international operations. Suggesting that the industry has no regional achievements would be inaccurate. Building a domestic banking franchise and creating a durable pan-African institution are separate challenges.

Ecobank Transnational Incorporated is another example because its history is strongly connected to regional banking integration. Founded in 1985, Ecobank Transnational Incorporated started as an effort and became a bank that supports many African markets.

With this, in 2025, Ecobank Transnational Incorporated also reported a profit before tax of $801 million up 21 percent year-on-year and net revenue of $2.45 billion, which went up by 17 percent. Ecobank Transnational Incorporated also reported a capital adequacy ratio of 16.7 percent and a cost-to-income ratio of 48.3 percent.

Meanwhile, it should be known that these results show the scale of Ecobank Transnational Incorporated’s operating model, but they do not prove that the bank’s operations are free from challenges. Nor should its dollar-denominated figures be compared directly with the naira results of an individual Nigerian bank without accounting for exchange rates, business mix and reporting differences.

Ecobank’s relevance lies in the development of capabilities that support banking across national boundaries. As African countries pursue deeper economic integration, efficient cross-border payments, trade finance and regional supply-chain financing will become increasingly important.

Nigeria’s banks should be evaluated on how effectively they support these activities. The reality is that a stronger Nigerian banking industry should not only finance large domestic transactions, but it should also help Nigerian businesses compete across Africa.

The fifth question brings the argument back to the regulator: what should the CBN demand from banks after recapitalisation?

The first requirement is to recognise that stronger capital does not automatically eliminate financial vulnerabilities.

The IMF said Nigeria’s capital adequacy ratio fell to 11.7 percent in the quarter of 2025. It also indicated that Nigeria’s non-performing loans rose to 8 percent, which’s above the prudential ceiling. These figures are from Q3 2025, not from the position in October 2026. The IMF blamed this decline on factors, including the effect of naira depreciation on risk-weighted assets, higher provisioning and the migration of restructured exposures, after the end of COVID-era regulatory forbearance.

The figures illustrate why capital raising must be accompanied by sustained attention to asset quality. They should not be used to suggest that the industry’s current capital adequacy ratio or non-performing-loan ratio stays at those levels without evidence.

The CBN must continue to focus on sound underwriting, proper provisioning, effective governance and clear reporting. Financial stability cannot be ignored to push for fast credit growth.

At the same time, prudential supervision should go hand in hand with better information about the real economic impact of growth in the banking sector. The CBN could share consistent data across the industry on lending to small and medium enterprises, manufacturing, agriculture and other productive areas. It should also show how loans are spread across borrower sizes along with details on loan maturities and interest rates. It would also help to include data on the link between banks’ holdings of government securities and their lending to the sector.

Such information would allow policymakers and the public to judge whether recapitalisation is strengthening financial intermediation as well as balance sheets.

The government must also take responsibility for the conditions under which banks operate. Unreliable electricity, poor transport infrastructure, uncertain policies, weak contract enforcement and high operating costs make it harder for businesses to get financing. When companies that could otherwise succeed cannot produce cash flows, banks will naturally become more cautious.

The government needs to improve the investment environment. It must manage its borrowing needs carefully. It should not create incentives that consistently favour government borrowing over private investment. The CBN must strike a balance. It must control inflation. Ensure financial stability while still making sure the credit channel works effectively. Neither institution can solve the problem independently.

The experiences of Attijariwafa Bank, Equity Group and Ecobank do not provide a ready-made blueprint for Nigeria. They offer different examples of institutional development, customer reach, small-business financing and regional expansion.

Their value lies in helping Nigeria ask better questions about what a strong banking industry should deliver.

Nigeria’s banks have contributed to financial sophistication, payments infrastructure, capital formation and corporate financing. Their achievements deserve recognition. But financial success must also be distinguished from the wider economic benefits that a strong banking system is expected to support.

The next phase of banking reform should be measured against three tests. First, do banks have sufficient capital and sound assets to withstand shocks? Second, is credit reaching viable businesses at sustainable terms? Third, is financial intermediation contributing to productive investment, employment and regional trade?

These tests would not require banks to abandon commercial discipline. They would require the industry, its regulator and the government to demonstrate that financial strength is translating into broader economic capacity.

The SME evidence makes this challenge particularly urgent. Nigeria needs better, comparable data on small-business lending, but the available figures already justify a serious investigation into why credit classified to small-scale enterprises represents such a small proportion of total private-sector credit.

Recapitalisation was necessary to strengthen Nigeria’s banks. It should not become the final measure of banking reform. Nigeria has strengthened its banks. The next challenge is to make that strength count more visibly for businesses, jobs and the productive economy.

Details have emerged on how Kula youths died at the bottom of the sea close to the Atlantic Ocean in an encounter with a vessel belonging to the Ibeto group.

Cries rang out in the week that a speed boat carrying 15 Kula youths of Akuku-Toru LGA of Rivers State, a town next to the Ocean, was crushed by a vessel which the youths attempted to stop from sailing out. The vessel known as Anambra FSO was said to be laden with 200,000 barrels of crude oil. The youths had many reasons to block the vessel, but about 10 of them ended up dead.

BusinessDay has been digging into what really happened that fateful Tuesday afternoon in the sea.

Kula community delegation at the Government House in Port Harcourt

Youths and vigilante members guarding the river

The Rivers State government has however stepped into the raucous, vowing to deal ruthlessly with anyone found liable in the deaths.

Gov Sim Fubara said 10 persons were killed and vowed to get to the root of the circumstances.

Gov Fubara gave the assurance on Thursday, October 22, 2026, when the people of Kula Community staged a peaceful march to Government House, Port Harcourt, carrying some of the corpses.

The governor, who was represented by Sunny Ewule, his Chief of Staff, sympathised with the bereaved families and appealed to the people to remain calm and avoid taking the laws into their own hands.

He assured the people of Kula that all those allegedly involved in the act that led to the death of their kinsmen would face the full wrath of the law.

The monstrous vessel

According to the Governor, death is a serious matter, and the Rivers State Government would not rest until it got to the bottom of the matter. ‘We are not going to sit by and allow Rivers indigenes go through this type of unnecessary death.’

Earlier, Anabs Sara-Igbe, a high chief and leader of the Kula Community to the Government House, said they were there to formally complain about the unfortunate incident and seek the government’s intervention.

‘It is proper we inform him (Fubara) because we don’t want to take the laws into our hands. We have the capacity to react but we don’t want to react,’ he said.

Boats and vessel

What Kula community claimed:

The community had raised alarm on Thursday, saying rescue efforts were underway to recover bodies of seven persons drowned at the Robertkiri waterways in Kula following a mishap involving a tugboat and a speedboat carrying over 15 persons.

The incident occurred on Tuesday, 20th October 2026, when a tugboat escorted by military personnel attempted to pull out a 200,000-barrel capacity oil vessel operated by the Ibeto Group after two years of operating in the area.

The victims include Davies Opiri (the Secretary of the Kula CDC) and two members of a local security outfit known as Amama Soldiers whose identity were yet to be known.

Others were named as David Sukubo, Endwell Ameme, Aboy Umeonu and Nye Oriye. They were said to be protesting members of Kula satellite communities and fishing settlements who had vowed to prevent the oil vessel from sailing out of their coastal waters until matters with the company were resolved.

They alleged that the Ibeto Group polluted their waterways, fishing ports and creeks, refused to pay local vendors, and allegedly failed to pay royalties due to the host communities in the course of its operations in the area.

The community said eight persons were rescued alive from the boat mishap. The search and rescue team, which included the DPO of Abonnema Police Division; Sukubu Sara-Igbe Sukubo, the President of the National Youth Council of Nigeria, chiefs and other indigenes of Kula, searched through creeks and water bodies where the incident occurred, they added.

The statement said they, however, were unable to find the bodies of any of the victims 24 hours after the incident.

One of the survivors, Gibert Pokubo, blamed military personnel attached to the tugboat for the incident.

He alleged that the military acted on the instruction of the Ibeto Group to forcefully pull out the oil vessel from the area and crush any obstable on their way.

One of the leaders of the search and rescue team, Jonah Joshua, expressed hope of recovering the bodies of all the victims.

He said the Ibeto Group and personnel of the Sector 3 Command Okrika of the Nigeria Army involved should be held responsible for what he described as avoidable deaths of the innocent persons.

A relative of one of the victims, Stephen Willbraide, said the wife, children and other family members of the deceased are deeply saddened and devastated by the incident.

He demanded a thorough investigation and justice in the matter.

The search and rescue operation continue today to recover the remains of the 7 victims.

Kula community gather beside the waters to receive corpses

Ibeto reacts, denies responsibility:

Ibeto group, in an unsigned and unauthored statement sent to media houses through an aide Thursday morning said Max Shipping Services Limited, a company in its group, noted with deep concern recent media reports concerning an incident at Kula community, Rivers State, involving its vessel, ANAMBRA BASIN FSO. ‘The reports contain allegations linking the vessel’s recovery operation to an oil spill, the deployment of armed personnel allegedly authorised by Chief Dr. Cletus Ibeto, and a boat capsizing in which several persons are feared to have lost their lives.’

From the statement, it was clear that Ibeto owns Max Shipping, while Max Shipping owns Anambra Basin FSO (vessel) which they hired out to Menal Technical Services Ltd to execute the job in Kula. This may have made the Kula community to see and know no other company than Ibeto.

The statement went on: ‘In view of the seriousness of these allegations, we consider it necessary to clarify the facts concerning our company’s involvement.

‘First, Max Shipping Services Limited is the owner of ANAMBRA BASIN FSO, not the operator of the oilfield or the underlying petroleum operations at Kula community. The vessel was hired to Menal Technical Services Limited under a Marine Equipment Hire Agreement dated 20 September 2024, subsequently amended by an Addendum.

‘Our company’s contractual relationship in respect of the vessel was with Menal Technical Services Limited. We were not a party to the separate operational arrangements that Menal or the end user may have had with the host community.

‘Under the ‘Hire Agreement’, Menal Technical Services Limited assumed specified responsibilities relating to operational exigencies, community settlements, security of the vessel and personnel, and demobilisation.

‘Following prolonged outstanding hire payments and repeated efforts to obtain settlement, Max Shipping Services Limited exercised its contractual right to retrieve its equipment.’

Before the demobilisation effort, the statement added, the crude oil stored in the vessel had been discharged. ‘Tank inspection documents issued by Checkirem and GSV Inspection Services Limited in September 2026 recorded that the inspected tanks were free and clean of crude oil at the time of inspection. These records form part of the documentary evidence being preserved for the relevant authorities.

‘We also made repeated efforts to resolve the situation peacefully. Our representatives met with community leaders and representatives on several occasions to explain the nature of our company’s contractual relationship with Menal Technical Services Limited, clarify that we were seeking to retrieve our own equipment, and address any misunderstanding concerning our role at the location. We sought a peaceful resolution rather than confrontation.

‘We are therefore deeply concerned by reports that have attributed responsibility for the incident and the alleged loss of life to our Chairman, Chief Dr. Cletus Madubugwu Ibeto, or have presented the vessel’s recovery operation as an operation undertaken by him in connection with the underlying oilfield activities.’

The vessel, ANAMBRA BASIN FSO, the statement said, is owned by Max Shipping Services Limited, a subsidiary of Ibeto Group, and was hired to Menal Technical Services Limited for deployment at the location.

‘The vessel’s ownership must be distinguished from the separate petroleum operations and community-related arrangements at Kula Community. Under the contractual arrangement, Menal Technical Services Limited, as the Hirer, was responsible for the vessel’s operations at the location, including the relevant operational arrangements and community-related obligations, in conjunction with the end user, as applicable.’

Accordingly, they said, the operational activities and arrangements undertaken by the Hirer and the end user in connection with the petroleum operations at the location should not be conflated with the ownership of the vessel.

‘We are deeply saddened by reports that a community boat capsized and that allegedly lives may have been lost. We recognise the distress and uncertainty experienced by those awaiting confirmation of the whereabouts and condition of their loved ones and as the circumstances surrounding the incident remain unclear, we pray that the relevant security authorities investigate the incident and take all necessary lawful steps to protect human life and prevent further incidents.

‘We appeal to all parties to remain calm, refrain from violence, and allow the competent authorities to determine the facts.’

Max Shipping Services Limited was said to have always maintained cordial and peaceful relationships with its host community and neighbouring communities within its own areas of operation, supported by constructive community engagement and social responsibility initiatives.

They said the Company remained committed to fostering mutual respect, peaceful coexistence, and positive relationships with the communities.

Max urged the media and the public to distinguish between the vessel’s ownership, the contractual responsibilities of its hirer, and the separate operations and arrangements at the oilfield. ‘Serious allegations should be based on verified facts, not assumptions.’

How the crushing and drowning took place:

BusinessDay deep inquiries and findings revealed that the NNPC/Belema JV awarded crude oil evacuation job to Max Shipping Ltd belonging to Ibeto Group since past few years.

The Kula community and their satellite settlements were said to have demanded for rights and host status in the evacuation jobs. The demand was said to have dragged on.

Max was said to have, however, given out some supply jobs to some Kula community vendors but the community claims they owed over the years.

Max hired out their vessel, Anambra Basin FSO to Penal Technical Services Ltd (hirer) to execute the job. The NNPC/Belema was said to have been unsatisfied with the services especially pollution issues and thus terminated the Max contract.

The community was said to have insisted that the vessel must leave their area until they were compensated for pollution, payment to community vendors, etc.

BusinessDay gathered that negotiations with the community continued at Ibeto office in GRA Port Harcourt. A source at the meetings told BusinessDay that as far as they were concerned, they were negotiating with Ibeto.

The source said they were surprised that while the negotiations were still ongoing, Ibeto through Max brought in the Army and attempted to pullout and go.

Community youths and vigilante team were said to have mobilized and intercepted the move and stopped them.

The vessel was described as very massive, but not self-propelled. It required two tug-boats to pull it along; one in front, one to push it at the back. Long ropes were tied to the sides of the vessel.

An army unit was procured to escort the vessel of the Kula waters. On the other hand, the Kula youths in their fast boat stayed at the side of the massive vessel, stopping it from going.

A source said at a point, the commander of the Army unit shouted order for the tugboat to pull. As it pulled, it was gathered that the rope stretched and threw the fastboat into the air and slammed it into the water (sea). The 15 youths allegedly slammed into the bottom of the sea, to the bottom of the vessel. Tragedy thus struck.

It was gathered that it was Community members that mobilized for rescue; they went to work and rescued some of the victims.

Eye witnesses said it must be the propeller of the fast boat that slashed at the victims. The bottom of the vessel was far into the water, and the youths were pushed there.

The rescue effort was said to find eight alive while seven were missing until five bodies were allegedly later found, still leaving two yet to be found.

Ibeto and Max insist that it is Penal Technicals Ltd (the hirer) that had any obligations and responsibilities with the Kula Community, but community sources insist that they had nothing to do with Penal but with Max for Ibeto.

On why the community youths chose the waterways to protest, a source said riverine people protest in the waters, not on land because they have no land like the upland people. On why the youths chose action instead of meetings with the company, the source said they had made several efforts and in fact were still in meetings in Port Harcourt when news came that the vessel was being pullout out. The source said the youths were given no option than to stage action.

Efforts to get reactions of the Army unit that was in charge of the escort duty have so far proved abortive.

To celebrate the beauty, power, and majesty of God through art, Fobally Gallery Ltd, in collaboration with Saviorite Limited and the Redeemed Christian Church of God, City of David, Lagos, has commenced a 2-week Christian art exhibition in Lagos.

The exhibition, which came under the theme, ‘Creation Speaks’, is a showcase of powerful artworks that reflect the beauty, glory and truth of God’s creation.

Speaking at the event, Creative Director of Fobally Gallery Ltd, Abiola Folasade, affirmed that the ongoing exhibition actually aimed at letting all artists know that the gifts, the artistic talent they have, were given by God.

According to her: ‘Most of the artists were born with that talent. They just up-skilled it through formal education. So, God is the giver of talent. The exhibition is a call for reflection for artists and for the people, the society at large’.

Highlighting the theme of the exhibition, ‘Creation Speaks’, Folasade said it was designed as a spiritual encounter, not just an art show.

‘As people walk through the exhibition, we pray that the weary will find rest; the discouraged will find hope; the lost will find Jesus and believers will be reminded of God’s faithfulness from Genesis to Revelation,’ she added.

While stating that art bypasses arguments and speaks directly to the heart, she said that the exhibition hoped to engage culture and redeem the arts for God’s kingdom.

‘God is the first Artist; creativity is divine. For too long, the Church has been silent in the art and culture space. This exhibition is our statement that excellence is worship and beauty is ministry.

‘We want to raise a new generation of Christian artists who know that their talent is a calling.

‘We also want to show the wider society that the gospel is beautiful, intelligent, and relevant’, she submitted.

On the collaboration between Fobally Gallery Ltd, Saviorite Limited, and RCCG City of David, Fobally Gallery Ltd boss said it models unity in the body of Christ, emphasising that the exhibition will also create a platform for artists to be celebrated and supported; families and schools to learn about God through creativity; the public to have a wholesome, uplifting experience in the city.

She expressed optimism that the exhibition will not just be seen, but heard adding, ‘the Holy Spirit will use colors, forms, and stories to speak to every visitor. That Lagos, and Nigeria, will see that the Church is a place of beauty, truth, and excellence.

‘The purpose of ‘Creation Speaks’ is to let God’s creation speak again of His glory, His gospel, and His call on our lives’.

Speaking also, the presiding Pastor of the Redeemed Christian Church of God, City of David, Victoria Island Lagos, Kayode Pitan who was represented by Trevor Akindele, described the exhibition as a unique platform to inspire faith and creativity through art.

While the Director Saviorite Limited, Jide Aiyegbusi, who also spoke at the event, had the Christian art exhibition as a direction from the Holy Spirit, noting that the theme of the exhibition was given to them by God.

To Aiyegbusi, who is an elder in the Redeemed Christian Church of God and a British trained Graphic Designer: ‘God has created us in His own image and in His own likeness. And whatsoever we have, God wants us to use it to honor Him, to glorify His name. God wants us to use whatever we have, our profession, our talent, our faith, to honor His name. And that is what we are here to do’.

On her part an artist, Stella Awoh Mofunanya, expressed excitement over what she described as the first Christian Art exhibition in the RCCG and added that it brought Christian artists together.

‘Some years back, some Christian artists were throwing away their works. Some said that it has to do with rituals, but this exhibition has given Christian artists opportunity to showcase their God’s given talents.’

However, she encouraged artists in the society to work harder adding, ‘art is money making machine now. People are buying artworks and they keep it like gold and resell. Art work is appreciated now.’

One of the exhibiting artists, Peacemaker described his art work as an expression of images that show the truth that God created the whole world.

‘This exhibition resonates well with the faith we preach that God made the whole world and Jesus Christ is the Son of the living God. Whom the world must receive’, he said.

Art works displaced at the ongoing exhibition include a curated collection of: Paintings- depicting biblical themes, nature, and God’s glory; Sculptures and Installations-reflecting on creation, redemption, and hope.

Others were; Mixed media – works that blend faith, culture, and contemporary expression and; Live art sessions and artist talks- insight into the creative process as ministry.

Trade, investment and cooperation initiatives are opening new possibilities for all three economies. Whether they lead to shared prosperity or simply reproduce familiar patterns of dependence will depend on how value chains, financing and risks are organised.

About this time last year, Ambassador Geert Muylle’s reflections on the pressures reshaping Belgian industrial supply chains prompted me to examine the possibilities of moving from dependency to partnership. The argument was that Europe’s search for economic resilience could meet Africa’s demand for greater productive participation. Both needed to reconsider the terms of their engagement. As we approach the Nigeria Belgium Luxembourg Business Forum in Brussels on 28-30 October, the question has become more demanding. What would demonstrate that partnership is changing the distribution of opportunity?

My stake in both Europe and Africa makes that question personal. I want Nigerian businesses to retain more value from what they produce. I also want Belgian and Luxembourg enterprises to secure dependable returns from partnerships that last. Fair trade must make those ambitions compatible. Seven developments offer a useful basis for judging the possibilities. They include changing commercial flows, investment decisions and new cooperation initiatives. Their significance lies in the connections between them.

A contraction that should change the conversation

The first development is uncomfortable for an otherwise celebratory forum narrative. The Belgian Foreign Trade Agency’s May 2026 bilateral note records Belgian goods exports to Nigeria falling from approximately pound 4.09 billion in 2024 to pound 1.27 billion in 2025, a decline of 68.9 per cent. Belgian goods imports from Nigeria also fell, by 14.6 per cent, to pound 474.9 million. These are Belgian-reported merchandise figures, rather than a complete account of investment or services. The figures challenge the assumption that diplomatic activity automatically produces expanding commerce. They also invite a more useful question than how quickly the old totals can be restored. Which parts of the relationship should grow next?

A relationship built around supplying finished products can generate substantial turnover while leaving limited productive capacity with the buyer. A smaller flow of equipment, engineering and investment could, under the right conditions, help establish enterprises that support decades of exchange. Falling trade is no achievement in itself. But restoring dependence should not become the measure of recovery.

Refining is changing the direction of opportunity

The second development supplies an important part of that context. The US Energy Information Administration reported in August that Nigeria’s seaborne petroleum-product exports to Europe averaged 130,000 barrels a day in the second quarter of 2026, compared with 40,000 in 2025. It links the broader expansion in Nigerian product shipments to the Dangote refinery. These are Europe-wide flows; they should not be presented as exports specifically to Belgium. Nor do they explain every movement in bilateral trade.

Their strategic meaning is nevertheless substantial. Nigerian processing capacity is changing what the country can offer international markets. For Belgian businesses, the response can include engineering services, industrial maintenance, storage, emissions management and partnerships in downstream manufacturing. Nigeria gains more when industrial expansion develops local suppliers and technical competence. Belgian firms gain when their expertise becomes part of a productive system with continuing demand.

The fair-trade test also applies within Nigeria. Domestic refining must deliver competitive markets, environmental responsibility and public value. Replacing external dependence with excessive domestic market power would leave an essential part of the task unfinished.

Cocoa opens a different bilateral future

The third development is the growing prominence of cocoa in the relationship. In its December 2025 account of the previous forum, Nigeria’s Ministry of Livestock Development reported the observation of Ambassador Pieter Leenknegt that cocoa had overtaken crude oil as Nigeria’s leading export to Belgium. This is a meaningful change in the composition of engagement, although commodity rankings alone cannot establish an industrial transformation. Cocoa gives both countries a reason to think beyond the shipment of beans. Nigerian fermentation, quality control and processing could be linked more deliberately to Belgian food manufacturing, technical expertise and distribution.

Each proposed investment would still need to establish its commercial case, including reliable power, competitive costs and applicable market-access conditions. Yet that is precisely the discussion worth having. How much processing can take place competitively in Nigeria? Which skills and equipment are required? What purchasing commitments would make investment credible? Fairness begins to become tangible when the producer can negotiate a larger role in the value chain, and the buyer obtains a more reliable, higher-quality supply.

Sustainability rules are becoming a test of partnership

The fourth development is the approaching application of the EU Deforestation Regulation, with the European Commission identifying 30 December 2026 as the application date. Cocoa is among the commodities covered. European operators’ obligations create information demands throughout their supply chains, including evidence about where commodities were produced.

This matters directly to Nigerian suppliers and Belgian buyers. Forest protection is a shared interest. But the distribution of compliance costs will influence whether the transition strengthens the relationship or excludes smaller producers. A fair response would combine purchasing commitments with practical support for farm mapping, traceability and producer training. Nigerian authorities and exporters must strengthen their own systems; European buyers should consider how their procurement terms can sustain that effort. Compliance could become a field of joint investment, including opportunities for Nigerian technology firms. It should also improve farmers’ ability to participate in formal markets. A system that can trace a bean back to a poor household should be capable of asking whether that household receives enough to sustain responsible production.

Livestock cooperation now needs investable projects

The fifth development is explicitly trilateral. The Ministry of Livestock Development reported that the 2025 forum endorsed a Nigeria-Belgium-Luxembourg Livestock Investment and Cooperation Platform, intended to advance partnerships, technology transfer, capacity building and bankable projects. Endorsement establishes an institutional opening; it does not establish that investment has closed or facilities are operating.

The opportunity is to turn that opening into a small portfolio of credible ventures. Cold-chain services, feed production, veterinary provision and dairy processing deserve appraisal against actual demand and operating conditions.

Nigeria can bring producers, enterprise and markets. Belgian partners can contribute relevant equipment and technical capabilities. Luxembourg’s financial ecosystem could help structure suitable investment vehicles and connect qualifying projects with investors.

The terms matter. Producers need transparent pricing and dependable payments. Investors need enforceable contracts. Projects need responsible land arrangements, animal-health safeguards, and workable community relationships. Those conditions are part of commercial durability.

Ports determine whether productive ambition travels

The sixth development concerns the infrastructure connecting these possibilities. Reporting on an April 2026 meeting between the Nigerian Ports Authority and Belgium’s ambassador described discussions on Belgian participation in Nigerian port modernisation, including infrastructure and operational efficiency. The public account supports an emerging cooperation agenda; it should not be treated as evidence of a completed financing package.

For an exporter, port performance can determine whether a good product reaches its buyer competitively. For an equipment supplier, delays and uncertainty can undermine an otherwise viable investment. Belgian maritime expertise therefore has value well beyond an individual construction contract. Partnerships should be judged by measurable improvements in clearance, cargo movement, and service reliability, alongside local maintenance and operational competence. Nigerian agencies must deliver the regulatory coordination that physical investment requires.

A fair corridor must serve businesses at both ends. More efficient movement of European imports alone would leave its productive promise incomplete. Nigerian exporters also need predictable access to the route.

Development finance is offering another opening

The seventh development is a concrete financing decision. In July 2026, Belgium’s development finance institution BIO approved a US$5 million investment in Acumen Resilient Agriculture Fund II. Nigeria is among the fund’s ten target countries. This is a regional fund investment, rather than a US$5 million allocation to Nigeria, but it identifies a route through which eligible Nigerian agribusinesses could access support.

Its relevance is the connection between agricultural resilience and investable enterprise. Productive partnerships need finance that recognises the costs of building supply systems and adapting to climate risk. Entrepreneurs still need sound governance and credible business models. Investors need to distinguish risks that can be reduced through technical support from those that require guarantees, different financing terms or a decision not to proceed. Calling a project promising cannot substitute for this work.

Luxembourg belongs in the financing discussion

Across these developments, Luxembourg’s contribution should be made specific. There is already a financial bridge to build upon: Nigerian Exchange records its 2019 cooperation agreement with the Luxembourg Stock Exchange and the subsequent cross-listing of Access Bank’s ?15 billion green bond. This is an earlier institutional foundation, not a newly announced 2026 transaction.

Its importance today is practical. Suitable Nigerian projects could be prepared for sustainable-finance markets through credible use-of-proceeds frameworks, external assessment and continuing reporting. Smaller ventures may first require aggregation or intermediary finance. A Luxembourg listing would neither guarantee affordable capital nor remove foreign-exchange risk. Projects earning Naira need financing structures that can withstand currency movements. Transparency about fees, ownership, and tax treatment must accompany any international structure. Luxembourg gains through financial services and investable opportunities; Nigeria gains only if the underlying assets become productive and financially sustainable.

The conversion platform the relationship needs

Taken together, these developments suggest a possible transition towards a relationship in which Nigeria participates more fully in production, Belgium earns returns from industrial and logistical expertise, and Luxembourg helps connect viable ventures with appropriate capital. The outcome will depend on choices still to be made.

Fair trade does not require identical trade balances or equal gains from every transaction. It requires meaningful room for each economy to develop capabilities, transparent allocation of risk and rewards, and commercial arrangements that can endure public scrutiny. Nigeria must improve its investment conditions. European partners must be willing to support productive participation as well as market access for their own firms. This is the context in which the Nigeria Belgium Luxembourg Business Forum is positioning itself as an indispensable conversion platform. Convened under the CBL-ACP Chamber, the 2026 edition combines plenary engagement with targeted business meetings and company visits. The forum programme places commercial priorities and implementation pathways at the centre of that approach.

The strongest contribution of the Business Forum is to bring the people who own an opportunity into direct discussion with those who can resolve its financing, technical or regulatory obstacles. A cocoa processor should leave with a clearer route to equipment, quality assurance and buyers. A livestock venture should establish what must happen before an investor can commit. A logistics proposal should identify the agencies and firms responsible for delivery.

To make this role indispensable, the forum is maintaining a disciplined process after Brussels: named project owners, agreed next steps and reviews at realistic intervals. A ninety-day review could distinguish opportunities that have advanced, those requiring further preparation and those that should be discontinued. Commercial confidentiality can be protected while aggregate progress is reported.

As someone involved in this work, I believe that is the standard we should welcome. The forum’s importance will grow through the transactions it helps make viable and the trust earned when participants follow through. Last year’s challenge was to recognise the opening for partnership. This year’s task is to organise the conversion into shared value. Brussels can become the place where the three economies turn that intention into commitments they can implement, measure and sustain.

Debates have been on for decades on the significance of the high nutritional content of whole wheat meal and those who should eat it as well as others who should avoid it. That is, if they are allergic to it. Generally, nutrition experts recommend eating grains daily, and at least half of those should be whole grains.

The current concern, however, is for people who have celiac disease or gluten intolerance. If not: ‘You don’t want to miss out on the health benefits of whole grains. You’re getting fibre, a healthy plant-based protein, vitamins, minerals, and a variety of phytochemicals that will improve your health,’ says Lilian Cheung, DSc, RD, a lecturer in nutrition at the Harvard School of Public Health.

Look for the word ‘whole’-either whole grain or whole wheat. Also make sure the grain is one of the first three ingredients listed on the label, advises Wesley Delbridge, RD, a spokesperson for the Academy of Nutrition and Dietetics.

Refined grains have had the germ and bran removed, leaving only the endosperm.

Although enriched refined grains have had some vitamins and minerals added back, they’re still not as healthy or nutritious as the whole versions.

Bottom Line:

Whole grains contain all three parts of the grain. There are many different kinds, including whole wheat and whole corn, oats, brown rice and quinoa.

In summary, whole grains have higher phytonutrient content and antioxidant activity than refined grains. Refined wheat flour loses 83% of total phenolic acids, 79% of total flavonoids, 93% of ferulic acid, 78% of total zeaxanthin, 51% of total lutein, and 42% of total ß-cryptoxanthin compared with whole wheat flour.

Nutrition facts

Wheat is mainly composed of carbs but also has moderate amounts of protein.

Here are the nutrition facts for 3.5 ounces (100 grams) of whole-grain wheat flour (1Trusted Source):

Calories: 340

Water: 11%

Protein: 13.2 grams

Carbs: 72 grams

Sugar: 0.4 grams

Fiber: 10.7 grams

Fat: 2.5 grams

Carbs

Like all cereal grains, wheat is mainly composed of carbs.

Further research on the health benefits of whole grain phytochemicals, their bioavailability, effects of processing on their physiological effects, and amounts in whole grain products is warranted.

Nutritional benefits

Views of those in support of its consumption

On April 23, 2010, at the Experimental Biology Annual Meeting, the ASN, through an unrestricted education grant from the General Mills Bell Institute of Health and Nutrition, sponsored a satellite symposium on:

‘Putting the Whole Grain Puzzle Together: Health Benefits Associated with Whole Grain.’

The symposium brought together researchers who reviewed the evidence associated with whole grain health benefits in the areas of:

(1) Whole grain phytonutrients,

(2) Weight management,

(3) Cardiovascular disease (CVD),

(3) Diabetes,

(4) Digestive health,

and ways to help improve whole grain dietary intake assessment.

Nutritional hazards of whole wheat meal

Kerri-Ann Jennings, MS, RD on December 23, 2016 gave a piece of warning: Whole Grains Are Not for Everyone

While whole grains are healthy for most people, they might not be appropriate for all people at all times.

Celiac Disease and Gluten Sensitivity

Wheat, barley and rye contain gluten, a type of protein that some people are allergic or sensitive to.

Having a gluten allergy, celiac disease or gluten sensitivity can cause a range of symptoms, including fatigue, indigestion and joint pain.

Gluten-free whole grains, including buckwheat, rice, oats and amaranth, are fine for most people with these conditions.

However, some people have difficulty tolerating any type of grain and experience digestive distress and other symptoms.

Irritable bowel syndrome

Some grains, such as wheat, are high in short-chain carbohydrates called FODMAPs. These can cause symptoms in people with irritable bowel syndrome (IBS), which is very common.

Diverticulitis

There are other medical conditions that require people to avoid fiber.

Diverticulitis, an inflammation of little pouches in the intestine, needs to be treated with a very low-fiber diet.

Ironically, eating fiber can help prevent this disease from developing in the first place.

Bottom line

The bottom line

Wheat is not only one of the world’s most common foods but also one of the most controversial.

People who are intolerant to gluten need to eliminate wheat from their diet entirely.

However, moderate consumption of fiber-rich whole wheat may be healthy for those who tolerate it, as it may improve digestion and help prevent colon cancer.

Ultimately, if you enjoy breads, baked goods, and other wheat products in moderation, this ubiquitous grain is unlikely to harm your health.

Some people have difficulty tolerating grains. The most well-known issue is with grains that contain gluten.

How to Incorporate Whole Grains into Your Diet

There are many ways to incorporate whole grains into your diet

As Nigerians seek opportunities to overcome the economic challenges in the country, Real Estate Cashback Housing Cooperative Society has reaffirmed its commitment to expanding access to real estate investment and long-term wealth creation for its members.

According to the organisation, it will continue to pursue its vision of making real estate investment more accessible, enabling members to participate in property-backed opportunities while working towards their individual financial goals.

Speaking at the 2026 Annual General Meeting (AGM), Oluwatosin Olatujoye, President of the Cooperative, said the organisation was established on the belief that real estate wealth creation should be accessible to more people through collective participation.

Olatujoye said that the Real Estate Cashback Housing Cooperative was established on a fundamental belief: that the opportunity to build wealth through real estate should not be limited to a select few.

He said that by bringing people together through collective ownership and participation, RECB is creating opportunities for more individuals to take meaningful steps towards financial security and lasting wealth.

Olatujoye added that the cooperative’s growth came with a responsibility to remain accountable to its members and focused on sustainable value creation. ‘Every investment, every development, and every milestone reinforces our responsibility to remain focused on our mission and be accountable to the people who make this cooperative what it is.

‘As we look to the future, our focus remains on strengthening our investment portfolio, expanding opportunities for our members, upholding responsible investment practices, and building a cooperative that continues to create value for generations to come,’ he stated.

Presenting the cooperative’s milestones over the past year, the Treasurer, Prosper Emapkor, outlined its investment activities and the breadth of its property portfolio, operating under the philosophy of ‘Building Wealth, Empowering Members, Creating Legacies

He said that RECB has developed a portfolio spanning residential estates, commercial developments and other real estate assets through its partnership with Zylus Homes. Projects highlighted at the meeting included Arizon Estate, Tiwa Commercial Hub, Tiwa Gardens, Tiwa Gardens II, Lekki Pride II, Lekki Pride III, Zylus Court and its extensions, and Lekki Avana.

Collectively valued at over ?115 billion, the portfolio reflects the scale of the cooperative’s real estate interests and its focus on property-backed investment opportunities. The presentation allowed members to review the cooperative’s investment footprint and consider how its portfolio supports its broader mission of creating opportunities for collective participation in real estate.

Beyond the figures and portfolio updates, member testimonials provided a personal dimension to the 2026 AGM, allowing participants to share their experiences and perspectives on their journeys with RECB. The testimonials highlighted members’ motivations for joining the cooperative, their aspirations for property ownership and wealth creation, and their experiences participating in a community built around collective real estate investment.

Bukola Olatujoye, Chief Executive Officer of Zylus Homes, in her closing remarks emphasised the relationship between effective real estate development, member confidence and the delivery of long-term value.

She highlighted that the role of a development partner extends beyond providing investment opportunities to delivering projects, supporting sustainable communities and maintaining the standards required to serve the interests of property investors.

The 2026 AGM marked another milestone in RECB’s ongoing effort to strengthen its investment community, review its progress and reaffirm its commitment to accessible real estate participation. With a growing international membership and a substantial property portfolio, the cooperative’s next phase will continue to centre on member engagement, responsible investment practices and opportunities for long-term wealth creation.

The meeting brought together members and stakeholders to review the cooperative’s progress, examine its real estate portfolio, and reflect on the opportunities and responsibilities of building wealth through collective participation.

Nigeria’s content creative industry is fast becoming an economic driver as creatives develop content that combines business objectives with authentic audience engagement.

To strengthen this shift, Insight Redefini, in partnership with Woof Studios Africa, hosted YouTube PluggedIN 2026, a platform where brands and creators shared insights on exploring opportunities for more meaningful collaboration through brand-funded content on YouTube.

The event, with the theme ‘Beyond the Placement: Rethinking How Brands Work with Creators,’ examined how brands, agencies and creators can move beyond conventional advertising placements to develop content that combines business objectives with authentic audience engagement.

Speaking at the event, Babatunde Olaifa, Group CEO of Insight Redefini, said that the growth of the creator economy depends on meaningful collaboration among brands and creators.

Olaifa said that no single stakeholder could build the ecosystem alone, highlighting the importance of combining their respective strengths to transform creative ideas into valuable content.

Building on a 2025 pilot, this year’s edition expanded the conversation to more brands, with a focus on small-group discussions and one-to-one engagements designed to connect brands with creators and move promising ideas towards campaign briefs, partnerships and funded content.

Adetutu Laditan, founder and Creative Director of Woof Studios Africa, said the growing ambitions of Nigerian creators and the need to address the business and production complexities involved in turning creative ideas into content that can be funded, produced and distributed to wider audiences.

Discussions throughout the event centred on three priorities: involving creators earlier in the creative process, ensuring brand-funded content remains relevant and authentic to audiences, and translating conversations into tangible partnerships, content opportunities and measurable outcomes.

A key highlight was a brand panel moderated by Esosa Osagiede, Group Creative Director at Insight Redefini, which explored what brands look for when selecting creators for partnerships.

Panellists, including brand managers from established Nigerian brands, identified brand fit and genuine audience influence as critical considerations. They stressed that follower counts and views alone do not necessarily reflect a creator’s ability to connect with audiences or influence their perceptions and behaviour.

One of the panellists, Media and Consumer Experience Manager of Mondelez International, Bolaji Popoola, noted that a shared understanding of objectives, audiences and creative direction is essential to building effective partnerships.

Prominent Nigerian creators, including Kiekie, Taoma, Aproko Doctor and Ify’s Kitchen, also shared perspectives on collaborating with brands through content that reflects their creative identities while meeting commercial objectives.

Babatunde Shobanjo, Chief Operating Officer of Insight Redefini, described the initiative as a positive development for the media and marketing communications industry, pointing to the value of creating platforms where brands and creators can explore new ways of working together.

Their emphasis on collaboration reflects Insight Redefini’s integrated approach to marketing communications. Earlier in 2026, agencies within its ecosystem, working with global partners, won a Gold Lion at the Cannes Lions International Festival of Creativity in the Creator Collaboration category for Vaseline’s The Real Nigerian Prince campaign.

The event comes amid growing interest in digital video and creator-led content as platforms for brands to connect with audiences. YouTube previously reported that watch time in Nigeria grew by more than 50 per cent year on year in 2025, with the platform reaching more than 30 million adults in the country each month.