Category: Business Day

President Bola Tinubu has approved changes in the hierarchy of the Service Chiefs as part of the federal government’s efforts to strengthen the nation’s security architecture.

In a statement, Sunday Dare, special adviser to the President on Media and Public Communication, said President Tinubu appointed Olufemi Oluyede to replace General Christopher Musa as the new Chief of Defence Staff.

He added that Major General W. Shaibu was appointed as the new Chief of Army Staff, while Air Marshal S. K. Aneke assumes duties as Chief of Air Staff. Rear Admiral I. Abbas was named the new Chief of Naval Staff.

The Chief of Defence Intelligence, Major General E. A. P. Undiendeye, retains his position.

The President expressed profound appreciation to the outgoing Chief of Defence Staff, General Christopher Musa, and the other Service Chiefs for their patriotic service and dedicated leadership. He charged the newly appointed Service Chiefs to justify the confidence reposed in them by enhancing the professionalism, vigilance, and comradeship that define the Armed Forces of Nigeria.

All appointments take immediate effect.

Design isn’t just what happens in Figma; it’s what happens to the business because of it. Every design choice you make carries financial weight. The right experience converts; the wrong friction leaks revenue. When you start seeing design as a growth engine, not a garnish, your impact multiplies.

Good design makes buying decisions an easy next step.

For years, design has been treated as surface work, what happens after the ‘real product’ is built. But every designer who’s watched users abandon a page knows the truth: a confusing interaction is a financial loss.

‘Design isn’t just cosmetic; it’s commercial.’

When we designed HostFi, a crypto-finance platform for African businesses, one of our biggest wins wasn’t adding features; it was removing friction. We simplified the onboarding flow from five steps to three conversational screens.

That wasn’t luck. It was designed to turn clarity into profit. Because when companies start thinking of design as a profit centre, not a cost, they begin to measure what truly matters: activation, retention, and trust.

Every decision has an economic impact

Across every project I’ve worked on, from fintech to SaaS to logistics, I’ve seen the same pattern: trust and clarity are currency.

A confusing balance screen doesn’t just frustrate users; it erodes confidence, and confidence drives transactions. A cluttered dashboard doesn’t just look messy; it slows decisions, and slow decisions cost money.

For Jetvision, a logistics SaaS platform for transport and delivery operations, that truth became obvious. Dispatchers were drowning in information; they had data, but it was all over the place. So, we redesigned the dashboard to highlight only what mattered most: exceptions, alerts, and revenue performance. Decision time dropped, and operational bottlenecks nearly halved.

That wasn’t ‘design polish’. It was design ROI, turning usability into efficiency and efficiency into margin.

‘Every click, label, and layout is either driving growth or leaking it.’

The business layer of design

The best designers don’t just ship interfaces; they ship outcomes.

When I was working on a fundraising platform for startup founders looking to raise funds, we reimagined how startup founders built financial models. Instead of dumping users into a spreadsheet-like form, we created a guided visual experience that helped them model revenue and expenses in minutes.

The result? Founders completed setup faster and converted to paid plans more often. That’s not just UX success; that’s measurable business impact.

‘Good design doesn’t just look good; it performs.’

Design decisions that multiply value

I think of design ROI in three layers:

Design that sells: removing friction at the point of conversion. Every click saved is revenue earned.

Design that retains: consistency and trust that keep people coming back. Retention is the quietest form of growth.

Design that saves: scalable systems that reduce cost and dev cycles. Efficiency is profitability in disguise.

When you see design through this lens, Figma stops being a canvas and becomes a business tool. You’re not just arranging elements; you’re optimising outcomes.

Speaking the language of ROI

Designers who understand revenue earn influence. Because when leadership asks, ‘How does this design move our numbers?’, they’re not doubting your value; they’re asking you to speak their language.

And we can.

Simplifying onboarding reduces customer acquisition cost.

Improving clarity increases activation rates.

Streamlining dashboards reduces support costs.

When design teams measure success in outcomes, not aesthetics, they move from being service providers to strategy partners.

‘ROI through design isn’t about doing more; it’s about proving the work works.’

From creator to strategist

Early in my career, I cared about pixels. Now, I care about progress. Before I start any project, I ask, ‘What metric is this design meant to move?’

That question changes everything. Suddenly, the button you adjust isn’t about taste; it’s about conversion. The layout you refine isn’t about alignment; it’s about retention.

This is the evolution from creator to strategist. From designer to decision-maker.

Design isn’t subjective. ROI isn’t either. Every product decision, from the way you structure a form to how you visualise data, affects how money flows through the business. That’s the real power of design: not just to make things look good, but to make things work better.

So the next time you open Figma, remember: you’re not just designing a screen. You’re designing an economy.

The Financial Action Task Force (FATF) has removed Nigeria from its grey list.

This decision follows Nigeria’s successful and timely completion of its FATF Action Plan, marking over two years of sustained effort, reform and inter-agency coordination aimed at strengthening the country’s Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) framework.

The FATF is the world’s foremost standard-setting body for combating money laundering, terrorist financing, and proliferation financing.

The announcement formally removed Nigeria from the list of jurisdictions under increased monitoring, commonly referred to as the ‘grey list’. President Tinubu described the development as ‘a major milestone in Nigeria’s journey towards economic reform, institutional integrity and global credibility.’

Nigeria’s removal from the Financial Action Task Force (FATF) grey list is a welcome development. It marks a significant milestone in our efforts to strengthen the integrity of our financial system and reflects the concerted efforts of our institutions – including the CBN, NFIU, EFCC, and other stakeholders – to implement robust anti money laundering and counter terrorist financing measures,’ said Wale Edun, the country’s finance minister.

‘This development reinforces confidence in our economy and the integrity of our monetary and financial systems, signaling to investors and global partners that Nigeria’s institutions are strong, transparent, and internationally trusted. It will ease cross-border transactions, improve capital flows, including foreign direct investment, and strengthen the foundations for rapid and sustainable economic growth and job creation.’

Peter Obi, the Labour Party presidential candidate in the 2023 elections, has criticised the federal government’s decision to approve $1 billion (N1.5 trillion) for the modernisation of the Apapa and TinCan Island Ports in Lagos, describing it as another example of Nigeria’s over-concentration of infrastructure development in Lagos at the expense of other regions.

In a statement posted on X Friday, Obi said while efforts to improve efficiency and adopt technology in the maritime sector were commendable, such initiatives must be anchored on accountability, transparency, and equitable development across the country.

‘Nigeria’s infrastructure investment remains excessively concentrated in Lagos, often at the expense of other strategic ports such as Warri, Port Harcourt, Calabar, and Onne,’ Obi said.

‘If fully developed, these ports could enhance productivity, drive trade, create jobs, and open new economic corridors that would lift millions out of poverty across the federation.’ The former Anambra State governor argued that decentralising port development would not only decongest Lagos but also improve logistics, reduce costs, and promote balanced economic growth.

He cited examples of countries such as Vietnam, Indonesia, South Africa, Egypt, Morocco, Algeria and Ghana, which operate multiple ports distributed across different regions, ensuring nationwide connectivity and inclusive growth. ‘No country seeking to maximise its blue economy concentrates all maritime activities in a single city,’ Obi stated. ‘Decentralisation reduces congestion, improves logistics, enhances national security, and promotes balanced economic growth.’

He noted that more than 70 per cent of Nigeria’s port activities remain concentrated in Lagos, leading to chronic congestion, high demurrage costs, environmental degradation, and delays that drive up the cost of goods nationwide.

Obi called for urgent investments in other coastal ports such as Warri, Port Harcourt, Calabar, and Onne, describing it as a national imperative. According to him, revitalising these ports would reduce shipping costs, attract investment, create employment, and stimulate regional economies.

He also emphasised the need for broader reforms to tackle corruption, streamline bureaucracy, and adopt digital solutions that enable paperless, efficient port operations.

‘If prudently managed, the Lagos modernisation project could become a model for broader maritime transformation, a reference point from which similar development radiates across the nation,’ he said.

Obi added that Nigeria’s development agenda must be guided by fairness, equity, and integrity, with a clear vision to transform the country ‘from one of consumption to one of production and shared prosperity.’

When we think about what makes a great company endure, our minds often jump to the leaders, the visionary CEOs, the bold decision-makers, and the people whose names make the headlines. But look closer at Nigeria’s most resilient financial institutions, and you’ll find something deeper at work, a quiet force that doesn’t make the evening news but sustains confidence through every economic storm: continuity.

In an era when leadership changes can rattle markets and social media thrives on the drama of transitions, it is easy to mistake stability for stagnation. Yet the strongest organisations do not rely on personalities; they rely on principles. Their strength comes from systems and values that outlive any one individual. For Nigeria’s financial industry, still finding its rhythm amid regulatory reforms, currency shifts, and global uncertainty, that kind of steady, values-driven continuity is not just admirable. It is strategic.

In our fast-changing economy, leadership transitions often trigger anxiety. Investors wonder if new leadership will alter direction. Employees ask what it means for their future. But the institutions that thrive, in Nigeria and elsewhere, are those whose foundations are strong enough to transcend these questions. They build governance frameworks that preserve integrity, long-term strategies that outlast short-term market noise, and succession plans that ensure a company’s culture does not vanish with a single announcement. Continuity, in this sense, is not a luxury. It is a form of risk management, a promise to every stakeholder that the organisation knows who it is, no matter who sits at the top.

This is especially true in Nigeria’s insurance and asset management sectors, where trust is everything. When investors place their money in your hands, they are not just buying into performance; they are buying into predictability. They want to know that when conditions shift, as they inevitably do, the institution’s character will hold firm. They seek assurance that its values, decision-making discipline, and collective memory will not evaporate with change.

A clear example of this principle can be seen in Asset and Resource Management Holding Company (ARM HoldCo). During its recent leadership transition, ARM demonstrated what genuine institutional strength looks like. There was no drama or disruption, only a seamless passing of the baton that reaffirmed the company’s stability. The appointment of Wale Odutola as Group CEO was particularly symbolic. Odutola is not a newcomer brought in to redefine the organisation. He joined ARM nearly three decades ago as a fresh graduate and rose through the ranks within its culture. His journey mirrors the company’s own evolution, one shaped by shared values, disciplined strategy, and deep institutional memory. His elevation is not just a personnel move; it is a message that ARM’s identity does not hinge on individuals. Its culture is its strategy.

The implications of this go beyond one company. Nigeria’s broader financial stability depends on how well its key institutions sustain trust. When citizens and investors believe that the people managing their money are guided by principles rather than personalities, confidence grows. And confidence, even more than capital, is the real foundation of economic progress. Too often, corporate Nigeria falls into the trap of chasing star power through high-profile hires or imported executives who may bring impressive résumés but lack the cultural grounding to build continuity. External expertise has its place, but enduring strength comes from within. The leaders who rise through an organisation’s ranks do not just understand its strategy; they embody its soul.

Continuity should never be mistaken for complacency. The institutions that endure are not those that refuse to change but those that know how to evolve without losing their core. Continuity does not mean standing still; it means adapting with purpose. The best-run financial firms in Nigeria and across the world are proving that it is possible to balance change with constancy. They are innovating responsibly, growing deliberately, and anchoring investor confidence along the way.

Continuity rarely makes headlines. It is quieter than quarterly profits or executive appointments, yet it is the invisible force that allows everything else to flourish. When succession is thoughtful, when governance is institutional rather than personal, and when culture becomes strategy, confidence compounds. That quiet, compounding confidence is what builds not just strong institutions, but a stronger Nigeria.

Zulaihat Dikko Radda, First Lady of Katsina State and a leading advocate for polio eradication, has launched a renewed campaign to eliminate the crippling disease across the state.

Speaking at an event held at Government House, Katsina, to commemorate World Polio Day, Radda called for stronger collaboration among families, community leaders, and health authorities to sustain the fight against polio and other preventable childhood diseases.

‘As the world unites to observe World Polio Day, we are reminded that our shared fight against this crippling disease remains a pressing reality for many communities in Nigeria, particularly here in Katsina,’ Radda said.

She urged parents to ensure their children receive full immunisation, describing vaccination as ‘a gift of a future they deserve.’ She also appealed to traditional and religious leaders to leverage their influence in mobilising communities toward complete vaccine coverage.

Highlighting the emerging threat of the circulating variant poliovirus type 2 (cVPV2), Radda disclosed that Nigeria has recorded more than 70 cases across 14 states and 46 local government areas in 2024, with Katsina now identified as an epicentre of transmission.

‘In 2024 alone, Katsina recorded 17 cases, with two more emerging this year in Danmusa Local Government Area,’ she said. ‘These are children who deserve to run, play, and grow up free from preventable suffering.’

She reaffirmed her commitment to ensuring no child in Katsina is left behind in the state’s vaccination drive. Rahama Mohammed Farah, chief of UNICEF Field Office, Kano, commended the state’s renewed efforts, noting that the goal of a polio-free Nigeria is achievable through sustained community engagement and political will. ‘Polio eradication is truly within our reach, but success depends on our collective resolve to sustain momentum,’ Farah said. ‘Every child deserves a life free from the crippling effects of polio.’

He added that UNICEF, in partnership with government agencies and local stakeholders, has mobilised thousands of vaccination teams across Katsina to ensure no child is missed.

Also speaking, Shamsudeen Yahaya, executive secretary of the Katsina State Primary Health Care Agency, pledged to intensify awareness campaigns against polio and other child-killer diseases across the state’s 34 local government areas.

The event was attended by representatives of the World Health Organisation (WHO), polio survivors, UNICEF officials, and the wives of all 34 local government chairmen in the state.

The Coca-Cola Company has reported a $393 million impairment charge tied to the sale of Chi Limited. The disclosure appeared in its Q3 2025 financial statements, highlighting the cost of its exit from Nigeria’s juice and dairy market.

In the third quarter of 2025, Coca-Cola announced the sale of Chi Limited, makers of Hollandia and Chivita, to UAC Nigeria Plc. The deal marks the end of Coca-Cola’s six-year direct operation in Nigeria. It also signals a shift in strategy as the company focuses on simplifying its global portfolio.

Coca-Cola first entered Chi Limited in 2016, when it purchased a 40 per cent stake from Tropical General Investment (TGI) Group for about $438 million, according to BusinessDay findings. The agreement included a path to full ownership within three years. That goal was achieved in January 2019, when Coca-Cola acquired the remaining 60 percent for $257 million. In total, the company spent roughly $694.5 million on the acquisition. The sale price to UAC Nigeria Plc has not yet been disclosed. However, Coca-Cola recorded a $393 million net loss on the transaction. This suggests that the sales proceeds were considerably lower than the book value of Chi Limited on Coca-Cola’s balance sheet.

The impairment adds to the company’s broader financial restructuring efforts. Coca-Cola is also preparing to take a $1 billion charge linked to the planned sale of part of its stake in Coca-Cola Beverages Africa (CCBA).

Meanwhile, UAC Nigeria Plc is expected to release details of the Chi acquisition in its Q3 2025 report. The company is already mobilising funds for the purchase. It plans to raise N65 billion through commercial papers to partly finance the deal.

Stanbic IBTC Capital is acting as the lead arranger, providing investment banking and advisory services to UAC Nigeria.

In a move that strengthens Nigeria-Norway economic relations, United Bank for Africa (UBA) has partnered with Renewvia Solar Nigeria to deploy renewable energy solutions across 25 of its branches in five Nigerian states.

The partnership, formalised at a ribbon-cutting ceremony at UBA’s Oba Akran 2 branch in Ikeja, Lagos, was officiated by the Nordic ambassador to Nigeria, Svein Bæra.

The event featured a tour of the inverter and battery operations room, symbolising a new phase in UBA’s sustainability drive.

Supported by Empower New Energy, a Norway-based renewable investment company, and Incremental Energy Solutions (IES), the initiative will deliver the first phase of 152,000 kilowatt-hours (kWh) of clean energy monthly, cutting UBA’s carbon emissions by over 89,000 kilograms of CO2 every month.

Under a 10-year Power-as-a-Service agreement, Renewvia will install advanced solar and battery hybrid systems across the selected branches. Once fully rolled out, the project will cover 50 locations in 18 states, providing 3 megawatts peak (MWp) of solar capacity and 7 megawatt-hours (MWh) of energy storage.

Muyiwa Akinyemi, UBA’s deputy managing director, said the bank’s sustainability vision goes beyond compliance, describing it as integral to Africa’s development.

‘This project demonstrates how innovation and partnership can deliver lasting impact, in terms of growth and advancement as well as reducing our carbon footprint, improving operational efficiency, and contributing to a cleaner environment.’ he said.

Adebowale Dosunmu, Renewvia Solar Nigeria’s managing director, described the partnership as a ‘major milestone’ in providing reliable, clean energy to commercial clients. He praised UBA’s commitment to sustainability and operational excellence.

For Incremental Energy Solutions, which helped drive the collaboration, Oladipupo Omodara, the CEO, said the success reflects the growing role of African stakeholders in global clean energy investments.

‘We are proud to support a project that helps Africa claim its rightful place in global energy technology deployment,’ he said.

Terje Osmundsen, Empower New Energy’s CEO, noted that the partnership underscores Nordic-African cooperation in accelerating renewable energy adoption.

‘We appreciate the cooperation and proactiveness of the UBA management team, whose support helped bring this remarkable project and partnership to life. We at IES are particularly pleased that this success reinforces our commitment to helping Africa claim its rightful place in global energy investment and technology deployment,’ Osmundsen said.

Svein Bæra, Norway’s ambassador, commended the collaboration as a shining example of what can be achieved when African ambition meets Nordic investment, adding that it represents both an energy milestone and a shared commitment to sustainable growth.

The project also aligns with UBA Group chairman Tony Elumelu’s advocacy for partnerships that view Africa as a hub of enterprise rather than aid dependency.

Speaking recently at the Norway-Africa Business Summit in Oslo, Elumelu called for collaboration grounded in mutual respect and investment.

Your corporate retreat is not an event; it is a strategic execution laboratory. In Nigeria’s high-stakes business environment, a ‘nice’ retreat that doesn’t deliver measurable ROI is simply a waste of precious capital.

For decades, I’ve seen businesses, large and small, miss the mark, mistaking expensive venues and team games for genuine strategic work. An unforgettable retreat isn’t about the venue; it’s about the unforgettable results you achieve.

Forget generic checklists. This is my Blueprint for Transformative Results. Right here, are the six mandatory steps to ensure your next retreat is the single most profitable investment you make this year.

The 6 Mandates for Guaranteed Retreat ROI

1. Define The Crisis (Not the Agenda)

Before you book a resort, identify the 1-3 most expensive problems your business is facing. Be blunt and honest about it, even if it is talent drain, cash flow issues, or market volatility. The retreat agenda must be explicitly designed to solve those crises.

The Mandate: Identify the core problem. Set SMART goals (Specific, Measurable, Time-bound) that directly address it.

The Edge: Gather input via surveys beforehand. Organizations that incorporate employee input see 27% higher engagement and a clearer problem definition (Gallup).

2. Engage the Objectivity Anchor (The Facilitator)

Leaving the most important strategic work to an internal leader, the CEO or an executive, is recipe for bias and stifled debate. You need an external expert to manage the process, not the content.

The Mandate: Secure an experienced, objective external facilitator. They maintain focus, mediate honest dialogue, and deploy proven frameworks (like Root Cause Analysis or OKRs).

The Edge: Organizations using external facilitators report 30% better outcomes because they successfully mitigate internal politics and foster genuine truth-telling.

3. Dedicate 60% to Execution, Not Discussion

An agenda dominated by presentations and social activities is a failure. Time away must be aggressively dedicated to high-leverage strategic work.

The Mandate: Dedicate 60% of time to strategic planning, execution alignment, and real-time problem-solving sessions. Use the remaining time for targeted leadership development and trust-building.

The Edge: We use a structured timeline to resolve 1-3 key business challenges during the retreat, leading to 15% faster solution implementation (Bain and Company).

4. Anchor Decisions in Data, Not Instinct

In a volatile economy, gut feelings are a risk. Every major decision made at the retreat must be backed by current metrics and market trends.

The Mandate: Integrate data-driven analysis into every session. Present key performance metrics, customer insights, and market trends to force informed debate.

The Edge: Teams that use analytics effectively are 23x more likely to outperform competitors (McKinsey). We turn data into an immediate competitive advantage.

5. Forge Unbreakable Accountability

The single biggest reason most retreats fail is the lack of follow-up. Plans are worthless without a strict accountability framework.

The Mandate: Assign clear owners, deadlines, and tracking systems (like project management tools) for every action item before the team leaves the venue.

The Edge: Businesses with clear accountability structures are 50% more likely to achieve their goals (Gartner). The retreat concludes with a structured six-month follow-up plan, not just a handshake.

6. Measure the Money Saved

Demonstrate your ROI to the board and stakeholders. Your retreat must be recognized as a value-generating investment.

The Mandate: Define success metrics upfront (e.g., projected cost savings, revenue from new ideas, increase in cross-functional project success).

The Edge: Organizations that measure retreat outcomes report 25% higher satisfaction among stakeholders. We provide a detailed post-retreat report showcasing the tangible ROI achieved.

Ready to Engineer an Unforgettable Result?

I am Coach Dapo Onamusi. My two decades of expertise are focused on the design and expert facilitation of strategic retreats that deliver unparalleled, measurable value in the Nigerian context.

I don’t just help you organize; I help you transform. Let’s stop planning events and start engineering the results that will drive your business growth.

Palm City, a leading agricultural estate project by Xymbolic Development Ltd, has announced the release of its Q3 2025 Report, highlighting significant milestones achieved between July and September 2025. The report underscores the project’s steady progress, operational discipline, and continued commitment to building a transparent and sustainable agribusiness model.

Strong Foundations: Palm City’s Pilot Nursery Takes Shape

A major highlight of the report is the successful setup of the Palm City pilot nursery, now home to over 70,000 oil palm seedlings; enough to establish more than 1,000 acres of plantation.

The nursery marks a critical step in Palm City’s long-term plan to develop one of Nigeria’s most structured and inclusive agricultural estates.

To ensure efficiency and sustainability, the nursery infrastructure includes a 30,000-litre water reservoir, a solar-powered borehole, and a semi-automated irrigation system. The seedlings have already begun sprouting, confirming that the agronomy team’s early efforts and adherence to best farming practices are yielding results.

How We Started an Oil Palm Plantation From Scratch | Palm City

Knowledge Partnerships and Industry Collaboration

During the quarter, the Palm City team embarked on strategic visits to the Nigerian Institute for Oil Palm Research (NIFOR) and Okomu Oil Palm Company Plc, two of Nigeria’s foremost institutions in oil palm development. These visits provided valuable insights into

research-based cultivation, efficient plantation management, and sustainable processing, knowledge that will guide Palm City’s operations in the quarters ahead.

According to Olisa Umerah, CEO of Xymbolic Development Ltd:

‘Palm City represents a disciplined and transparent approach to agribusiness; one that creates lasting value for investors, uplifts communities, and safeguards the future.’

Transparency and Stakeholder Trust

In line with its value of openness, Palm City continues to keep its investor community informed through regular reports and visual documentation. The company recently released a nursery setup documentary, providing stakeholders with a firsthand look at the project’s progress, while periodic updates continue to highlight on-ground activities and community engagement efforts.

Xymbolic Development has also launched a dedicated stakeholder communication channel, ensuring every investor receives verified information directly from the project’s management team.

A Model for Sustainable Agribusiness

As the Palm City project continues to expand, Xymbolic Development remains focused on scaling responsibly, prioritizing sustainability and transparency over speed. The company’s Q3 report reaffirms its long-term commitment to creating wealth through structured agribusiness while setting new benchmarks for trust and accountability in the agricultural real estate sector.