Category: Business Day

The Federal Competition and Consumer Protection Commission (FCCPC) has approved the sale of Chivita|Hollandia (CHI Limited) to UAC of Nigeria PLC. The approval officially completes one of Nigeria’s most notable consumer goods transactions in recent years.

In a statement released on Friday, UAC said the transaction marks a major milestone in its expansion strategy within the fast-moving consumer goods (FMCG) sector. The acquisition gives UAC ownership of some of Nigeria’s most popular beverage and dairy brands, including Chivita juice and Hollandia milk.

The approval follows an earlier announcement made on July 30, 2025, when both parties confirmed that an agreement had been reached for the sale. With the regulatory process now concluded, both companies are set to begin a transition that will see CHI Limited integrated into the UAC group.

Eelco Weber, Managing Director of Chivita|Hollandia (CHI Limited), said the team is pleased to have secured regulatory clearance for the deal. ‘We look forward to a smooth transition and to seeing Chivita|Hollandia thrive under UAC’s ownership,’ he said. Fola Aiyesimoju, Group Managing Director of UAC, described the acquisition as a strategic step for the company. He said the addition of Chivita|Hollandia strengthens UAC’s leadership in the Nigerian consumer goods market. ‘We are excited to officially welcome the Chivita|Hollandia team and brands into the UAC family,’ Aiyesimoju said. ‘We look forward to building on their strong legacy and market leadership.’

The acquisition also marks a new chapter in the evolving ownership of CHI Limited. In 2016, Coca-Cola Company acquired a 40 percent minority stake in CHI Limited, later taking full ownership in 2019.

What the UAC deal means for the market

The acquisition allows UAC to strengthen its presence across several FMCG segments. These include dairy, beverages, snacks, and packaged foods. The company plans to leverage its wide distribution network, retail partnerships, and manufacturing capacity to drive new growth.

Analysts view the deal as part of a growing trend in Nigeria’s business landscape. Local conglomerates are increasingly reclaiming ownership of consumer brands once controlled by multinational corporations. By taking over CHI Limited, UAC restores Nigerian ownership to one of the country’s most recognisable beverage brands. In recent years, local manufacturers have become more competitive. They have improved product quality, expanded production facilities, and built stronger distribution networks. Many are also connecting more effectively with Nigerian consumers through pricing and cultural relevance.

A clear example is Planet Bottling Company, a homegrown firm behind American Cola. The brand has gained significant ground in a market once dominated by global soft drink giants.

Rite Foods Limited has also disrupted the non-alcoholic beverage category. Its Bigi Cola brand continues to win market share in the carbonated drinks segment. The company’s Fearless Energy Drink has also grown rapidly, competing directly with major international labels in the energy drink market.

These shifts underscore the increasing prominence of Nigerian-owned brands. Local firms are no longer just participants; they are shaping the future of the consumer goods industry. Analysts say UAC’s acquisition of CHI Limited strengthens this momentum. It positions the company at the centre of a new phase of growth, innovation, and competition led by Nigerian businesses. Gala and Super Bite under one umbrella

Interestingly, CHI Limited and UAC Foods have a shared history of competition. Both companies operated in one of Nigeria’s most recognisable on-the-go food categories, the beef sausage roll market.

CHI introduced its Super Bite brand as a challenger to UAC Foods’ iconic Gala sausage roll. For more than five decades, Gala has maintained a dominant presence in Nigeria’s snack segment, becoming a staple for commuters and quick-service consumers.

Analysts believe the new ownership structure could reshape competition in this category. The deal may lead to brand consolidation or a strategic repositioning within UAC’s snack portfolio.

With Super Bite and Gala now under one corporate umbrella, UAC is expected to explore synergies across production, distribution, and pricing. These efficiencies could help the company strengthen its leadership in the convenience snacks market.

The Peoples Democratic Party (PDP) has denied claims that it is currently facing any internal crisis, insisting that what many people see as confusion is simply a misunderstanding of roles within the party.

In a statement released by its National Publicity Secretary, Debo Ologunagba, the main opposition party explained that there is no leadership tussle, adding that the duties of its suspended National Secretary, Senator Samuel Anyanwu, are limited to handling minor administrative issues such as diesel supply and parking space allocation at the party’s national secretariat in Abuja.

Ologunagba said recent media reports suggesting a rift among party leaders are exaggerated and do not reflect the true situation. According to him, the PDP remains united and focused on repositioning itself ahead of future elections.

Ologunagba explained that the situation, being described as a crisis, was merely a misunderstanding about who is responsible for what in the day-to-day running of the party. He said some people may have misinterpreted normal administrative functions as a power struggle.

‘There is no crisis in our great party. What we have is a simple issue of clarification about who performs certain administrative roles,’ he said. ‘Senator Anyanwu’s functions have been clearly defined. He is only to oversee logistical issues like diesel supply and parking arrangements within the party secretariat. There is no confusion about that.’

The PDP spokesman emphasised that the National Working Committee (NWC) remains intact and that all its members are working harmoniously. He said any story suggesting division is being spread by political opponents who are uncomfortable with the party’s growing popularity.

Ologunagba accused some media outlets of sensationalising routine party matters, saying that journalists should be more careful when reporting internal issues. ‘Some reports have blown things out of proportion. The PDP is not at war with itself,’ he said. ‘The so-called crisis is simply an administrative adjustment which happens in every organisation. We are united, strong, and ready to serve Nigerians better.’

He added that the party’s leadership has continued to meet regularly to deliberate on national issues and to strengthen its structure across the 36 states and the Federal Capital Territory.

The controversy around Senator Samuel Anyanwu began when he was suspended as National Secretary of the PDP earlier in the year following his participation in the Imo State governorship election. Party sources had alleged that Anyanwu’s involvement in state-level politics affected his duties at the national level, prompting the leadership to reassign certain responsibilities.

However, Ologunagba clarified that the party has moved past that episode and that Anyanwu’s current role does not interfere with the functions of the acting National Secretary. He noted that every political organisation experiences moments of internal adjustment, but such situations should not be mistaken for full-blown crises. ‘Senator Anyanwu’s matter has been resolved within the framework of party discipline. He continues to handle assigned administrative functions, and there is no tension about that,’ Ologunagba stated.

The PDP used the opportunity to reassure its members nationwide that the party remains solidly united under the leadership of its National Chairman, Umar Damagum. Ologunagba said the party is more concerned about rebuilding and reclaiming power in the upcoming elections rather than engaging in internal wrangling.

He urged party members, especially at the grassroots level, to ignore fake news and remain focused on the bigger goal of returning the PDP to national leadership. ‘Our focus is on strengthening the party’s base, resolving minor differences, and preparing for the 2027 elections,’ he said. ‘We are working together to restore hope to Nigerians who are disappointed with the current administration.’

The PDP spokesperson accused rival parties of sponsoring misleading stories to create the impression that the PDP is in disarray. He claimed that the ruling All Progressives Congress (APC) is particularly threatened by the renewed unity within the PDP, especially as the opposition begins consultations ahead of the next general election.

‘The APC knows that the PDP is their only real competition,’ Ologunagba said. ‘That is why they are trying to plant stories about imaginary crises. Nigerians are wiser now; they know who truly represents their interests.’

Ologunagba concluded that the PDP’s National Working Committee remains focused on delivering good leadership within the party and supporting democratic values in the country. He emphasised that the PDP will continue to play its role as the main opposition by holding the government accountable and proposing policies that improve citizens’ welfare.

‘The PDP is not distracted,’ he declared. ‘We are doing what Nigerians expect of us, speaking truth to power and preparing to provide better leadership when the opportunity comes.’

In summary, the PDP says there is no crisis in its ranks, only a misunderstanding of duties that has been exaggerated by the media and political rivals. The party maintains that Senator Anyanwu’s responsibilities are limited to simple administrative matters like diesel management and parking supervision at the secretariat, nothing more.

Ologunagba’s message is clear: the PDP is stable, united, and ready to take on the challenge of rebuilding Nigeria. At a time when the country is grappling with economic hardship, insecurity, and political fatigue, the party says it is focused on providing Nigerians with a credible alternative-not on fighting internal battles.

The opportunities that artificial intelligence (AI) offer African teachers and students are immense; the AI education market in the Middle East and Africa is projected to hit $1.7 billion by 2030. Yet in Sub-Saharan Africa, where student-teacher ratios can reach 50:1 and many children still lack access to quality learning resources, the need for innovative solutions is urgent. What excites me most about AI in African education is the potential to address persistent inequalities in ways that haven’t been possible before.

For too long, students in under-resourced schools have had fewer opportunities simply because their teachers lacked access to support, materials, or professional development. AI can change this dynamic fundamentally, making world-class support accessible even in the most remote classrooms.

Across Africa, AI has the potential to drive change in schools, but only if it is shaped to fit the realities of African classrooms, rather than forcing classrooms to adapt to the technology. The real promise lies in AI’s power to personalise learning at scale, helping teachers meet the needs of every student in classes that are often large and diverse. When AI is guided by local priorities, cultural context and teacher expertise, it stops being a futuristic add-on and becomes a practical ally.

The challenges

Three obstacles stand out most clearly from our work across the continent.

Connectivity remains a major challenge across much of Sub-Saharan Africa. Teachers want to use AI tools but can’t always access them when they need them most. That means that classroom tools need to have offline capabilities, such as pre-generated material, and tools need to work effectively with intermittent internet connections.

Language barriers present another complexity. While many teachers are comfortable teaching in English, this is not their students mother tongue and they often need to explain concepts in local languages. We’re working on multilingual capabilities through researching the African language capabilities of leading AI chatbots, but this remains an ongoing challenge that requires careful cultural and linguistic adaptation.

Perhaps most importantly, we’re hearing that teachers want more time to explore and experiment with AI tools. The demanding nature of teaching, particularly in resource-constrained environments, means that many educators struggle to find space for learning new technologies. If adoption is to succeed, professional development and time allowances must be built into the process from the start.

Making AI familiar

The beauty of AI integration in education lies not in expensive hardware or complex software, but in leveraging the tools teachers already have access to. Through our work across Sub-Saharan Africa, we’ve discovered that the most practical entry point is often the smartphone in a teacher’s pocket.

Our WhatsApp teacher support AI chatbot project in South Africa demonstrates this perfectly. Teachers are already comfortable with WhatsApp; they understand how to send messages, and they can access support instantly without needing new apps or training on unfamiliar platforms. When a teacher in a rural classroom needs help differentiating a lesson for mixed-ability learners or wants quick feedback on a lesson plan, they can simply message our AI assistant and receive immediate, contextualised support.

This approach works because it builds on existing digital behaviours rather than requiring teachers to learn entirely new systems. We’ve found that teachers who start with familiar interfaces, such as WhatsApp, develop confidence that naturally extends to other AI tools over time.

Empowering educators as architects of learning

At Cambridge, we believe the power of AI in education lies in a human-centred approach that starts ‘where teachers are,’ respecting their agency and empowering them as architects of learning, not just consumers of technology.

It is this human-centred approach that is key to helping students navigate change and use technology effectively. A recent Cambridge report, ‘Preparing learners to thrive in a changing world’, which captures the views of nearly 7,000 teachers and students across 150 countries, shows that while technology is widely embraced to support teaching and learning, over a third of teachers surveyed (34 percent) selected over-reliance on technology as the greatest challenge that technology might pose in preparing students for the future. In this age of AI, we believe that it is essential for students to develop a solid foundation of subject knowledge to help them interpret information critically and effectively.

This insight is one reason we are especially focused on helping African education systems avoid the challenges other regions have faced with technology adoption. Our approach emphasises teacher training, infrastructure readiness, and gradual implementation, rather than rapid, large-scale deployments that too often fail to deliver their intended outcomes.

We’ve structured our Getting Started with AI in the Classroom guide around practical scenarios that teachers encounter daily and our professional development programme for STEM teachers exemplifies this philosophy too.

Rather than starting with ‘here’s how to use this AI tool’, we begin with ‘here’s how AI can solve real problems you face in your classroom’. Teachers learn to evaluate AI outputs critically, asking questions like: Does this explanation match my students’ cultural context? Are there biases in the examples provided? How can I adapt this suggestion to fit my teaching style?

A future built for teachers

Teachers in Africa are incredibly creative and adaptable, and we’re starting to see them use AI in ways that we never anticipated. They’re adapting tools to local languages, incorporating traditional knowledge systems, and developing approaches that reflect their deep understanding of their communities. This innovation from the ground up suggests that AI integration in African classrooms will look quite different from implementations in other parts of the world, and that’s exactly as it should be.

Our vision is AI that helps preserve what’s best about African education while addressing its most persistent challenges. This means supporting the strong relationships between teachers and students, the collaborative learning approaches, and the community connections that characterise many African classrooms, while using AI to reduce administrative burden, enhance personalisation and provide teachers with better support.

To make this vision real, three things are essential: deeper investment in teacher training, stronger collaboration with ministries and local tech innovators, and sustained infrastructure development to bridge connectivity gaps.

Ultimately, I’m excited about a future where every African student has access to excellent education, supported by teachers who feel confident, well-resourced and professionally fulfilled. AI won’t create this future by itself, but it can be a powerful tool in the hands of dedicated educators working toward that goal.

Lagos has always been a city where food is celebrated with passion, and its dining scene is constantly embracing new chapters. While the city is famous for its suya joints, pepper soup spots and smoky jollof rice, there is a growing appetite for meals that are lighter, plant-forward and ethically conscious. Veganism is no longer a passing trend; it is becoming a lifestyle choice for many Lagosians, driven by health awareness, creativity, and a desire to eat differently.

Here are two of the best vegan and vegan-friendly restaurants in Lagos worth visiting

Veggie Victory

When Veggie Victory was founded in 2013, it set itself apart as Nigeria’s first fully vegan restaurant and has since become known as the pioneer of Afro-Vegan dining in Lagos. Long before plant-based food became fashionable, this spot was already experimenting with Nigerian classics in creative, meat-free ways. Located in Dolphin Estate, Ikoyi, the menu covers just about everything from local dishes to intercontinental dishes. You’ll find salads, rice plates, local soups, desserts and even fusion soups that bring a new twist to familiar flavours. Their signature Vchunks, a home-grown plant-based protein, is a favourite and often features in suya, pepper soup and stews. Prices start as low as ?1,500 for protein add-ons and go up to about ?12,000, making it a place that works for a range of pockets.

Gourmet Vegan Kitchen

Gourmet Vegan Kitchen is one of Lagos’s most popular vegan eateries, and it is easy to see why. Located in Ikoyi, the restaurant has built a reputation for its inventive menu that balances hearty indulgence with health-conscious creativity. Dishes such as the vegan mushroom burger, spicy avocado and veggie patty, and their much-loved vegan pizza have made it a go-to for plant-based diners. For those who prefer dining at home, the restaurant makes its meals available through online ordering platforms, ensuring accessibility beyond the restaurant floor. Prices range widely, with a bottle of zobo available for as low as ?2,800, while their standout veggie pizza is sold at ?13,500, a dish many reviewers describe as one of the best vegan pizzas in Lagos.

Sean ‘P. Diddy’ Combs, the hip-hop mogul facing decades of abuse allegations, received a 50-month prison sentence Friday for two counts of transportation to engage in prostitution, igniting rage on social media. Users on X blasted the term as equivalent to about four years after crediting pretrial detention, as woefully lenient compared to the graphic evidence of coerced ‘freak-offs,’ assaults, and a criminal enterprise detailed in his federal trial.

On X, reactions erupted with widespread anger over the perceived leniency, especially given the volume. Users highlighted a ‘two-tier justice system’ favouring elites.

One post read: ‘FOUR YEARS. That’s it. . If it were you or me, they’d bury us under the prison.’ @davidson_f14299 Another fumed:

‘Diddy only getting 50 months. is an example of how the justice system is absolutely (rigged). There was PROOF,’ @youcouldbmywife

Critics compared it to harsher penalties for minor drug offences:

‘Diddy getting only 4 years. yet let somebody smoke a.plant and they’re getting life,’ @ponytailyuh. Some expressed rage for victims: ‘I’m so livid and I’m angry for Cassie,’ @xmugenyoruichix. A law student @zalophusw lamented: ‘Diddy getting only 4 years. is disgusting. . The justice system has failed the victims again.’

Combs has already served about 13 months in pretrial detention, leaving roughly 37 months to complete.

The sentencing follows a two-month trial that ended in July with Combs convicted on the lesser prostitution charges but acquitted on more serious racketeering and sex-trafficking counts. Prosecutors had sought at least 11 years, citing evidence of a criminal enterprise involving coerced sexual acts known as ‘freak-offs.’ Defence attorneys recommended 14 months, arguing Combs’ actions stemmed from addiction and lacked intent for trafficking.

Before the ruling, Combs apologised in court, calling his behaviour ‘sickening’ and stating he had lost himself to excess.

The case traces back decades but gained momentum in November 2023 when Combs’ ex-girlfriend, singer Cassie Ventura, filed a civil lawsuit accusing him of years of physical abuse, sexual assault, and forced participation in drug-fueled orgies.

The suit settled within a day, but it prompted federal scrutiny. Combs faced at least 10 civil suits alleging rape, drug-facilitated assault, and abuse, including claims from a minor.

Raids on his Los Angeles and Miami homes in March 2024 uncovered guns, drugs, and over 1,000 bottles of baby oil and lubricant, tied to the alleged events.

Authorities arrested Combs in September 2024 at a New Jersey airport, charging him with leading a racketeering conspiracy that coerced women and others into sex acts, using threats, violence, and drugs. Witnesses, including Ventura, testified about beatings and marathon ‘freak-offs’ lasting days, with Combs allegedly filming and distributing videos. Video evidence from 2016 showed Combs assaulting Ventura in a hotel hallway. Despite this, the jury cleared him of the top charges, sparing a potential life sentence.

Combs’ team plans to appeal, calling the sentence excessive for a first-time offender. He will report to a federal facility, possibly in New York or Florida, pending designation.

Troops of the Nigerian Armed Forces have foiled oil theft valued at over ?112 million and arrested about 450 terrorists, bandits, extremists, and other criminals across the country in September, according to the Defence Headquarters (DHQ).

Markus Kangye, Director of Defence Media Operations, who disclosed this in a statement on Saturday, said the military’s sustained nationwide operations have continued to yield significant results in the fight against insecurity and economic sabotage.

DHQ revealed that troops of Operation DELTA SAFE uncovered and disrupted illegal refining activities valued at ?112,175,220 in the Niger Delta region.

The seizures included 49,321 litres of stolen crude oil, 6,970 litres of Automotive Gas Oil (diesel), 1,900 litres of Dual Purpose Kerosene, and 1,475 litres of Premium Motor Spirit (petrol).

It added that 41 illegal refining sites were destroyed during the operations.

‘These results reflect the troops’ commitment to ending the criminal exploitation of national resources.

‘For the month of September, about 450 terrorists, bandits, extremists and other criminals were arrested, 39 of them surrendered, while 180 civilians were rescued’, DHQ said. The military also recovered a large cache of arms and ammunition during the operations, including 63 weapons, 4,475 rounds of ammunition, and 294 assorted items such as grenades, improvised explosive device materials, handheld radios, motorcycles, and vehicles.

According to the DHQ, several automatic rifles, rocket-propelled grenade tubes, machine guns, locally fabricated firearms, and large quantities of live cartridges were also seized from criminal hideouts and terror enclaves across multiple theatres of operation.

In the North-East, the statement said troops of Operation HADIN KAI intensified counterterrorism operations against Boko Haram and Islamic State of West Africa Province (ISWAP) insurgents in Borno, Adamawa, and Yobe states.

DHQ noted that the joint ground and air operations , carried out in Konduga, Gwoza, Mafa, Monguno, Damboa, Biu, and Kukawa local government areas of Borno; Madagali, Hong, and Mubi South in Adamawa; and Gujba in Yobe, led to the elimination of several terrorists and the destruction of their camps and logistics bases.

‘Their efforts also supported the safe resettlement of displaced persons and unimpeded farming activities across the region,’ it added.

The Defence Headquarters reaffirmed its commitment to sustaining the ongoing counterinsurgency and anti-crime campaigns across all operational theatres, including Operation WHIRL STROKE in the North-Central and Operation DELTA SAFE in the Niger Delta.

It also assured Nigerians that the Armed Forces remain resolute in restoring peace and safeguarding the nation’s resources from criminal elements.

The Nigeria Police Force has said it is yet to be officially served with the order of the Federal High Court in Warri, Delta State, which reportedly directed the police to suspend enforcement of the vehicle tinted-glass permit.

Benjamin Hundeyin, force Public Relations Officer, CSP, made the clarification on Saturday while reacting to widespread reports that the court had restrained the police from arresting or prosecuting motorists over tinted windows.

On Friday, the Federal High Court in Warri granted an interim order in Suit No. FHC/WR/CS/103/2025: John Aikpokpo-Martins v. Inspector-General of Police and Nigeria Police Force, directing the police to maintain the status quo pending the determination of the substantive case.

The order effectively halted any form of enforcement or prosecution related to tinted-glass permits until the court delivers a final judgment on the matter.

However, Hundeyin, in a statement released via his official social media handle, said the police had not yet received formal service of the court order. He also faulted selective reporting of the ruling, saying Nigerians deserved full context rather than a partial interpretation of the court’s directives.

‘While we have not been officially served the court order you’re making reference to, let me, in the meantime, show point number eight (of the same order) since you left that part out and focused only on point number six. Nigerians deserve a complete picture, not a skewed one,’ the post stated.

The response came after Inibehe Effiong,

human rights lawyer, shared a portion of the ruling online, highlighting the court’s directive that the police should stop arresting or prosecuting motorists over tinted-glass permits.

The controversy follows last year’s decision by the police to resume the issuance of tinted-glass permits under the Police Specialized Services Automation Project (POSSAP) in April 2023, after the scheme was suspended in 2022 due to public complaints about extortion and abuse.

The ongoing legal challenge, filed by John Aikpokpo-Martins, questions the legality of the police’s enforcement actions and seeks judicial interpretation on whether the permit scheme aligns with the constitutional rights of motorists.

As of Saturday, the police maintained that they would await official service of the court order before taking any further steps or issuing a directive to commands nationwide.

Lagos came alive on October 1, Nigeria’s Independence Anniversary, as the continent’s biggest boxing spectacle – ‘Chaos in the Ring’ – lit up the Mobolaji Johnson Arena in grand style.

The historic Independence Day boxing night, organised by Balmoral Group Promotions in partnership with Amir Khan’s AK Promotions, delivered world-class action and positioned Nigeria as a rising hub for elite boxing.

Lagos State Governor Babajide Sanwo-Olu led a star-studded list of dignitaries that included Shehu Dikko, Chairman of the National Sports Commission; Wale Edun, Minister of Finance and Coordinating Minister of the Economy; and Bukola Olopade, Director-General of the NSC, among others.

In the main event, American cruiserweight Brandon Glanton delivered a stunning sixth-round knockout of 2012 Olympian Marcus Browne, sealing victory in one of the night’s most gripping contests.

There was also a homecoming moment for Nigerian-born British boxer and former Commonwealth champion Dan Azeez, who thrilled fans with a fourth-round TKO win over Sulaimon Adeosun in his first-ever fight on Nigerian soil.

Speaking after the event, Dr. Ezekiel Adamu, CEO of Balmoral Group Promotions, hailed the success and hinted at even bigger plans – including the staging of a major heavyweight title fight in Lagos.

‘Nigeria is the home of heavyweights. I know they say Queensbury is the home of heavyweights, but really, Nigeria is the true home,’ said an elated Adamu.

‘Think about it – we’ve got Moses Itauma, David Adeleye, Lawrence Okolie. Anthony Joshua is Nigerian, and Deontay Wilder has Nigerian roots. The list goes on. You’ve just seen what Taiwo Agbaje has achieved. It shows we have another champion ready to rise, and we are going to make it happen.’

Adamu challenged Nigerian-bred heavyweights to headline a historic fight on home soil and confirmed that Balmoral’s next show will hold on December 19, with the fight card to be unveiled in the coming weeks.

Stakeholders hailed ‘Chaos in the Ring’ as a defining moment for Nigerian sport, showcasing the country’s expanding reputation beyond football.

Bukola Olopade, DG of the NSC, said the event reflected Nigeria’s excellence on the global stage:

‘This symbolises the excellence that Nigeria is known for. We had attendance from different continents, and tonight proves we are more than a football nation. This year alone, we have hosted international events in athletics, karate, arm wrestling, and more, and it has been magnificent.’

The night drew an illustrious audience, including Minister of State for Finance Dr. Doris Uzoka-Anite, Lagos State Sports Commission DG Lekan Fatodun, SSA to the President on Grassroots Sports Chief Adeboyega Adeyinka Anthony, veteran journalist Chief Dele Momodu, and Nigerian football legend Victor Ikpeba.

Adding further glamour, music superstars Naira Marley, D’banj, and other top artistes lit up the arena with electrifying performances, making the Independence Day spectacle a seamless fusion of world-class boxing and entertainment.

The Central Bank of Nigeria (CBN) has announced that from November 3rd, settlement of fixed income securities will migrate to the CBN. By December 1st, the Bank itself will run the trading platform. It is noted that secondary fixed income market platform is currently operated by FMDQ Group with the CBN as the largest shareholder (about 15% stake) seating at the leadership of it’s board over the last decade.

No doubt, the Central bank wanting more control of Government bonds are legitimate as they are the mainstay of monetary policy. They shape interest rates, liquidity, and confidence as the CBN want complete visibility of who is buying, who is selling, and where the money is flowing to. In my considered view this objective can be seamlessly achieved by a simple interoperability between FMDQ and CBN’s platforms. For market transparency and stakeholders’ confidence, it is advised that the investing public deserve more information on the shortcomings of the FMDQ fixed income trading and settlement system (if any) and provide clearer details on need for the planned takeover of the operation of fixed income market in Nigeria.

Again, a regulator that also becomes an operator can be likened to case of being the referee and player in a football setting. It is a known fact that investors prize independence and clarity. Once the CBN starts looking like an exchange and a settlement house, confidence will definitely take a hit. Moreover, the timing of this policy is also concerning because migrating an entire market in a matter of weeks is operationally risky at any rate. One system bug, one failed reconciliation, the market could freeze, liquidity could vanish and yields could spike leading to an avoidable confidence crisis.

Further, Government bonds are capital market instruments hence, they are under the purview of the Securities and Exchange Commission (SEC) regulation because they are listed and supervised by the SEC. Allowing the CBN operate both the trading and the post-trade functions in our financial system undermines the statutory authority of the capital market regulator. We look to see SEC’s response in the weeks ahead. Whilst the CBN is interested in control, and policy leverage, the market is propelled by trust, predictability, and rules that everyone respects. If participants feel the rules can change by fiat, they will demand a risk premium. That means higher yields for the government and more expensive borrowing for everyone else. In fact, if this process is not reversed or managed seamlessly, it has the potential of scaring away portfolio investors from the Nigerian market with profound implication on investor confidence with downside implications on key macroeconomic indicators.

Nigeria spent the last decade building an independent and vibrant market infrastructure. Thus, this latest move by the CBN risks dragging us back to the illiquidity, shallow and undiversified reality that characterized the system in pre-2014 era when the fixed income market was fully operated by the CBN. The ideal path is cooperation by strengthening oversight of FMDQ (stricter governance) and interoperability between FMDQ and the CBN platforms. Investors (local and foreign) yearn for financial markets that they can trust, that they can predict, that everyone respects the rules, and not a controlled /ordered market.

Technology is transforming the customer experience by reinventing every interaction or touchpoint between your brand and customers. Prospective customers might hear about your company from a friend, visit your website, or see social media posts.

In other words, it’s no longer enough for companies to have only offline interactions with their customers. Today’s customers have access to brands through various digital channels, which means they can easily compare one brand with another. These changes in customer behaviour have forced companies to find new ways to encourage customer loyalty.

What is a brand touchpoint?

A brand touchpoint is a way for brands to connect with customers. It could be a product you’re trying to sell, an advertisement, a TV commercial, or even a tweet. The goal of any touchpoint is to make it easy for people to learn about your product or service and potentially become customers.

Brand touchpoints are also valuable because they provide insight into your customer base and how people engage with your brand. By understanding your customer’s experience at each touchpoint, you can determine where to focus your marketing efforts to build trust and increase sales.

What is brand identity?

A brand identity is a collection of visual and verbal symbols you can use to build and maintain trust in your business. It can include logos, colours, fonts, slogans, and more. It impacts how consumers perceive you as a company. Setting a consistent brand identity across all touchpoints, online and offline, is essential.

Another essential part of creating a solid brand identity is ensuring that every touch point offers something unique and valuable for customers. If you use multiple channels to sell products or services, it’s crucial to prioritise the ones where customers spend the most time and money.

What is a customer journey map?

A customer journey map represents a customer journey from the first point of interaction with your brand to conversion. It shows all the brand touchpoints that lead to a conversion and helps you guide your marketing efforts.

A customer journey map can include critical events such as first contact, landing page visit, checkout process, and post-purchase actions. Another benefit of mapping customer journeys is that it helps you understand where visitors bounce between pages and how to optimise your website for conversions.

Finally, customer journey mapping helps you understand who your customers are, where they come from, and what they need to make a purchase. It allows you to provide them with the right content at the right time while ensuring they have a positive experience throughout their whole journey. By doing so, you will be able to drive more conversions and increase your revenue.

Brand touchpoints and the customer experience

The goal of every business is to create a memorable and authentic customer experience. It means tailoring everything from the design of your website to the way you interact with customers when at your store. It helps you develop strong emotional connections and improve customer relationships.

Brand touchpoints must all be consistent and convey the same message to customers. They are vital because they influence how customers engage with your business and impact their satisfaction with your brand.

For example, suppose a company’s phone call center is slow or unreliable. In that case, it could result in bad customer experiences and low satisfaction scores, and a company can lose some of its customers. Therefore, brand touchpoints are an essential part of any organization’s strategy.

How brand touchpoints impact customer loyalty

Brand touchpoints, whether an email or a social media post, can be subtle or to the point, but they impact loyalty in one way: they can increase or decrease trust. Customers who see an ad for your product or service might get a warm, fuzzy feeling of desire. However, if they afterward read a negative review about your product or service, it can discourage them from making a purchase.

Businesses need to keep in touch with customers and provide them with engaging experiences. According to one source, 88 percent of consumers say that an experience a company offers is equally crucial as the company’s products or services, while 69 percent of customers also expect a connected customer experience when they engage with a company.

By regularly engaging with your customers through various brand touchpoints, you can build a loyal following that will continue to support you long after their first purchase of your product or service.

Four tips for defining your brand’s touchpoint strategy

The first step to creating a successful touchpoint strategy is to define your brand’s identity. You can do this by developing an overarching theme that all of your brand touchpoints and marketing campaigns can align to. It is also essential to determine which of your existing products and services will be the focal point of your new brand vision.

Once you have defined your brand’s identity and vision, it is time to define your brand touchpoints. The touchpoint strategy aims to create pathways for customers to interact with your brand in the most natural and meaningful ways possible.

There are several essential things to keep in mind when designing your brand’s touchpoint strategy:

Make sure customer touchpoints are easy to find and easy to understand

Keep them consistent so that customers can recognise your brand identity

Make sure they look nice and feel welcoming

Personalise touchpoints for each customer, if possible, as 82% of customers have a more positive view of a brand after engaging with personalized content.

Last line

Brand touchpoints help build customer loyalty by providing a consistent brand experience throughout the customer journey. A positive brand experience will motivate your customers to purchase from your company again.