Category: Business Day

The news of the death of Oludotun Baiyewu Jacobs, ‘The Lion of LUFODO’, was broken to the world recently through a statement from his family.

In a bizarre, dramatic sequence, there had been repeated reports of his death for several years. At one point, the family was compelled to respond, through pictures and videos, to prove that Olu was still very much around.

Olu in his prime might have seen irony, and perhaps even some mirth, in the premature announcements of his death. He might have been mindful of the experience of Mark Twain, the famous American writer, who, when confronted by journalists in England, in 1897, about newspaper reports that he was dead, responded, ‘The report of my death was an exaggeration’. Over time, the witty one-liner has been transformed into a more quotable ‘The news of my death has been greatly exaggerated’. Obviously, Mark Twain was more amused than annoyed. Perhaps he understood that embedded in the psychology of public adulation of genius and accomplishment was also a secret death wish, a primordial unconscious assurance to the ordinary mortal in his ordinariness that such greatness could not last forever.

It is widely recognised that the Creative Arts are among the greatest natural endowments possessed by Nigeria. Music, Drama and other artistic expressions are part of the lived experience in all the cultural ethnicities of the country. That Afrobeats, for instance, is just now receiving mainstream attention in the rest of the world is not to imply that its richness and its rival genres have not always been around. That Nollywood churns out annually now more films than Hollywood is not a fluke, but a reflection of an innate tendency of Nigerian people to recreate the theatre of their lives before an audience, whether made up of children sitting on grass in a village square, or clustering together to watch drama on the new medium of Television introduced to the country by WNTV since 1959, or laughing over radio plays such as ‘Alao and Shakey-Shakey’. There was an early tradition of Travelling Theatre groups who went on the road to recreate life in various towns and cities, from north to south, east to west.

An ‘early adopter’ who crossed the barriers between Theatre, Radio, Television, and Film was Chief Hubert Ogunde. In Kano, during one of his Travelling Theatre performances, Ogunde would ignite a spark in a young boy in the audience. That boy was born in Abeokuta on 11th July 1942, and he was growing up in Kano. One day he attended a performance by Ogunde’s travelling troupe at the Colonial Hotel.

He was mesmerised. He had found his metier. His name was Oludotun.

He would travel to the United Kingdom to study drama at the elite Royal Academy of Dramatic Art in London, a high-octane environment which had nurtured and honed the skills of some of the greatest actors in the world.

He soon established a sterling reputation in Theatre, Television and Film in the United Kingdom. He became a notable presence in British television series such as The Professionals. He also took major Theatre roles, including Shakespeare’s plays and Tom Stoppard’s ‘Night and Day’. He played prominent roles in films, including the film adaptation of Frederick Forsyth’s ‘Dogs of War’.

He was a towering, imperious presence who inhabited his roles totally, whether as an African politician, or a red cap Igbo Chief, or a family patriarch in the throes of an early dementia. In real life, he was a genial, courteous figure.

At the height of his international fame, he returned home to Nigeria.

He got married to Ajoke Silva, a diva of Stage and Film in her own right. Together, in almost four decades, they have become one of the most formidable teams in Nigerian Arts. They founded the LUFODO Group, including a LUFODO Academy of Performing Arts (LAPA).

Olu’s entrance into Nollywood mirrored its rapid evolution from infancy to efflorescence. He has appeared in more than one hundred and twenty films. The gravitas and professionalism of his presence have helped to elevate the quality of the content, which had often been an area of challenge.

LUFODO operates Glover Memorial Hall, the iconic monument in central Lagos. Olu’s shadow was hovering in the background recently when Ajoke showed this writer around the modifications to the old structure, as you discussed a pending film project. She was keenly aware of the historicity of the hall, as Olu himself undoubtedly was. Here, in 1903, the first film-show in the land that would be named Nigeria was staged, at the behest of Herbert Macaulay. Here, on a day in 1944, the women of Lagos had packed the hall in a raucous gathering to honour an illiterate market woman named Pelewura.

Olu died on 16th September, at the age of 84. He had been living with Lewy Body Dementia for some years.

Showing remarkable courage and character, his family had not hidden him in a closet. He had enjoyed all the love and support anyone could hope for. It showed, right till the end.

Olu holds the national honour of Member of the Order of Nigeria. He received many awards in his life, including an Industry Merit Award for Acting at the Africa Magic Viewers’ Choice Awards.

The Lion of LUFODO has passed this way and roared his last. He has inspired an industry that is struggling for a front-row seat in the world, so it can reach its full potential and contribute to the nation’s development and prosperity. He has inspired a younger generation to believe they can become whatever they aspire to, without shortcuts or self-doubt. He has left behind a doughty, spirited Amazon in his widow Ajoke, along with a family and an organisation that will assuredly go on to scale new heights to honour his memory.

May the soul of Oludotun Baiyewu Jacobs rest in perfect peace.

Former Kaduna State Governor Nasir El-Rufai has been appointed Deputy Chairman of Atiku Abubakar’s Presidential Campaign Council for the 2027 general elections under the African Democratic Congress (ADC), placing the former governor at the centre of the opposition party’s campaign structure.

The appointment was announced on Thursday by Phrank Shaibu, media aide to Atiku, as the ADC unveiled its campaign council ahead of the 2027 presidential election.

Kashim Ibrahim-Imam was named chairman of the council, while Senator Austin Akobundu was appointed Director-General and Campaign Manager.

The appointments mark a further step in the efforts by the ADC and its coalition partners to establish a nationwide political structure ahead of the elections.

The campaign council said its agenda would focus on issues including the rising cost of living, unemployment, insecurity and declining purchasing power, placing economic and security concerns at the centre of its campaign messaging.

El-Rufai’s appointment also gives him a prominent organisational role in Atiku’s presidential bid, following his involvement in the political coalition that preceded the emergence of the ADC as a platform for opposition politicians.

From PDP to ADC

Atiku’s latest political move followed years of political activity within the PDP, where he emerged as the party’s presidential candidate in the 2019 and 2023 elections.

Before joining the ADC, Atiku resigned from the PDP as opposition politicians began discussions around forming a broader political platform ahead of the 2027 elections.

Atiku had previously left the PDP and contested the 2007 presidential election under the Action Congress before returning to the PDP.

He served as vice president from 1999 to 2007 under the administration of former President Olusegun Obasanjo.

His political career has therefore spanned several parties and political alignments, with the 2027 election marking another phase in his attempt to secure the presidency.

El-Rufai, on the other hand, emerged as one of the prominent figures associated with the opposition coalition following his tenure as Kaduna governor.

He governed Kaduna State from 2015 to 2023 after previously serving as minister of the Federal Capital Territory.

His tenure in Kaduna was marked by programmes in infrastructure, education, public-sector reforms and urban development, alongside political controversies and criticism over some of his administration’s policies.

After leaving office in 2023, El-Rufai remained active in national political discussions, particularly on issues concerning governance, the economy and the direction of opposition politics.

Coalition takes shape

The emergence of the ADC campaign structure is part of a broader effort by opposition politicians to create an alternative political platform ahead of the 2027 elections.

The coalition has brought together politicians with different political backgrounds and previous affiliations, including figures who have operated within the PDP, APC and other political platforms.

The development has also placed the ADC at the centre of discussions over opposition coordination ahead of the election, although the strength and structure of the emerging alliance will depend on its ability to establish party structures and campaign networks across the country.

With the unveiling of the campaign council, the party has now begun assigning specific responsibilities to senior figures involved in its presidential campaign.

Ibrahim-Imam, as chairman, will provide leadership for the council, while Akobundu will coordinate its day-to-day campaign activities as Director-General and Campaign Manager.

El-Rufai’s position as deputy chairman puts him among the senior figures expected to participate in coordinating the campaign and advancing the coalition’s political message.

Focus on economy, insecurity

The campaign council has identified the cost of living, unemployment, insecurity and declining purchasing power among the major issues it intends to place before voters.

These issues have remained central to political debate in Nigeria, with political parties expected to present competing approaches to economic management, job creation, security and household welfare as the 2027 election approaches.

The ADC is expected to use the campaign period to communicate its policy proposals while expanding its structures across the states.

For Atiku, the campaign represents another stage in his long-running presidential ambition, while El-Rufai’s appointment gives the former Kaduna governor a formal role in the organisation of the bid.

The development is also expected to test how effectively the coalition can translate the political relationships among its leading figures into a coordinated nationwide campaign ahead of the 2027 general elections.

Martin Bredenoord is the general manager of Sheraton Lagos Hotel, who leads a team of hospitality professionals to deliver high-quality service offerings, amid world-class facilities.

In this interview, he shares insights on the role of the pioneer hotel in the development of Nigeria’s hospitality industry, why it is still thriving after four decades in business, the changing landscape of the industry, especially with technology, sustainability practice, place of human capital in the business, and his message on World Tourism Day 2026. Excerpt.

Sheraton Lagos has been part of Nigeria’s hospitality landscape for more than four decades. What does that history mean to the hotel and the wider tourism industry?

Sheraton Lagos opened its doors in 1985, at a time when Nigeria was beginning to strengthen its position as an important business and travel destination in Africa. Over the past four decades, we have had the privilege of being part of the country’s evolving hospitality and tourism story.

For us, that history represents much more than longevity. It represents continuity, resilience, adaptation and the responsibility that comes with being an institution within an industry.

Generations of business travellers, diplomats, tourists, families, airline crews and Nigerians returning home have passed through our doors. We have hosted major meetings, conferences, celebrations and events that have brought people together from across Nigeria and the world.

Our location in Ikeja, close to Murtala Muhammed International Airport, has also positioned Sheraton Lagos as an important gateway for visitors arriving in Lagos.

So, when we speak about our history, we are really speaking about the history of the people, businesses and travelers who have contributed to Nigeria’s hospitality ecosystem over the years.

As a pioneer in the industry, how would you describe Sheraton Lagos’ role in the development of the tourism and hospitality industry?

I would describe Sheraton Lagos as one of the pioneering internationally branded hotels that helped establish global hospitality standards within Nigeria.

Bringing an international hospitality brand into a developing market introduces systems, operating standards, service culture, training frameworks, and a level of consistency that can influence the wider industry.

Over the years, Sheraton Lagos has served not only as a hotel, but also as a training ground for hospitality professionals. Many people who began their careers here have gone on to hold leadership positions across Nigeria and other parts of the world.

We have also contributed to the business tourism ecosystem by providing accommodation, meeting spaces, food and beverage experiences and event facilities for corporate and international visitors.

Ultimately, our role has been to help connect Nigeria to the global hospitality ecosystem while ensuring that the experience remains relevant to the Nigerian market.

Nigeria has called for stronger and sustained international partnerships to address the country’s evolving security challenges and wider threats confronting the Sahel region.

Christopher Musa, Minister of Defence, made the call at a side event held on the margins of the 81st United Nations General Assembly (UNGA) High-Level Week in New York.

The event, themed, ‘Confronting Nigeria’s Multidimensional Security Challenges: A Whole-of-Society and Partnership-Based Approach,’ brought together diplomats, security practitioners and representatives of the United Nations, African Union and Economic Community of West African States.

Musa said Nigeria’s security challenges had implications beyond its borders, requiring a coordinated response involving government institutions, communities, regional organisations and international partners.

He said the country’s recognition that it could not address the challenges alone should not be interpreted as dependence, but as an acknowledgement of the increasingly multidimensional nature of modern security threats.

‘Sustainable security requires resilient communities, effective institutions, inclusive development, and good governance,’ he said.

The minister outlined measures being implemented by the administration of President Bola Ahmed Tinubu to strengthen Nigeria’s security architecture.

These include the recruitment of an additional 22,000 personnel into the Armed Forces and the expansion and reorganisation of the Nigerian Army’s divisional structure.

He also highlighted ongoing efforts towards establishing state police and dedicated forest guard arrangements to improve the security of rural and border communities.

According to him, the government is also implementing a presidential approval for a unified intelligence and reconnaissance programme designed to eliminate operational silos among government agencies.

The programme, he said, would improve situational awareness and strengthen interoperability across Ministries, Departments and Agencies (MDAs).

Musa further identified the strengthening of domestic defence production as another priority, noting that the government was supporting the Defence Industries Corporation of Nigeria (DICON) to enhance self-reliance and reduce dependence on external sources of military equipment.

He said Nigeria was also integrating advanced technologies into its security operations, including drones for real-time surveillance and improvised explosive device detection.

The minister also cited the rollout of a comprehensive national criminal database among measures being pursued by the government to strengthen the country’s security architecture.

According to a statement by Leah Katung-Babatunde SA (Media) to the Honourable Minister of Defence, discussions at the event extended beyond military responses, with participants examining intelligence, border security, economic stability, cybersecurity and community participation as components of a comprehensive national security strategy.

A panel moderated by Ibrahim Gambari, former Chief of Staff to the President, recalled Nigeria’s concentric-circles foreign policy and stressed the need for Africa to position itself as an active contributor to global frameworks, particularly in the area of artificial intelligence.

On homeland security and early warning, Adeyinka Famadewa, Special Adviser on Homeland Security, advocated the fusion of intelligence and integrated response capabilities.

He also called for systems that would protect citizens who report security threats, saying effective citizen reporting could contribute to the early identification and prevention of emerging threats.

Abdul Ibrahim, a former Force Commander of the Multinational Joint Task Force (MNJTF), called for community-based approaches to border security.

He also urged the implementation of the Office of the National Security Adviser’s Border Management Strategy, revitalisation of the MNJTF and stronger efforts to target terrorist taxation and financial networks.

Kingsley Obiora, former Deputy Governor of the Central Bank of Nigeria, said economic stability remained a core pillar of national security.

He proposed the establishment of designated economic zones, drawing on Colombia’s experience, to stimulate business recovery in areas affected by conflict.

Mvemba Phezo Dizolele of Johns Hopkins University cautioned African countries against relying on external templates in addressing their security challenges.

He urged African countries to develop solutions that reflected their specific circumstances and were designed with and for local populations.

Omosigho Ozo-Eson, a cybersecurity expert, warned against excessive reliance on foreign artificial intelligence systems.

He stressed the need to protect Nigeria’s Critical National Infrastructure while developing indigenous cyber-defence capabilities.

In his closing remarks, Musa reaffirmed Nigeria’s commitment to combating terrorism and banditry and commended the country’s defence cooperation with international partners, including the United States.

He, however, stressed the need for greater African ownership of regional security mechanisms.

While acknowledging the support provided by international partners such as the European Union to mechanisms including the MNJTF, the minister said African member states needed to increasingly finance and sustain their own security frameworks.

According to him, greater domestic and regional financing would help guarantee ownership and sustainability of African-led security mechanisms.

Musa also highlighted government efforts to strengthen legal frameworks, protect vulnerable health workers operating in high-risk areas and create a stable business environment capable of attracting investment.

He said the objective of the discussions should go beyond reaffirming the nature of Nigeria’s security challenges to identifying concrete areas of cooperation and defining responsibilities and practical next steps.

‘Our objective should be straightforward. We should not merely reaffirm our understanding of the challenges; we should seek to identify concrete areas of cooperation, clear responsibilities, and practical next steps,’ he said.

Earlier, Bosede Olaniyi, Director in the Office of the Permanent Secretary, Ministry of Defence, welcomed participants to the event and called for robust engagement capable of producing meaningful outcomes for national development.

The Federal Government has taken over emergency rehabilitation of the 125-kilometre Benin-Asaba Road after worsening deterioration of the strategic corridor triggered severe gridlock, prolonged travel delays and growing hardship for motorists and businesses.

President Bola Tinubu, represented by Edo State Governor Monday Okpebholo, inaugurated the emergency intervention in Benin on Thursday, saying the decision followed the failure of the concessionaire, Benin-Asaba Expressway Concession Company (BAECC), to deliver the road in line with the terms of its Public-Private Partnership agreement.

Tinubu said the concession arrangement was expected to deliver the road within three years but that the pace and manner of execution had fallen short of expectations, leaving motorists and communities along the corridor to bear the consequences.

‘We are witnessing the response of a government that has heard the cries of its people and has chosen to act. That is why today’s intervention is truly a rescue operation,’ the President said.

The Benin-Asaba corridor is a major transport artery linking Edo and Delta states with other parts of the country and carries significant passenger and freight traffic, making its deteriorating condition a major concern for commerce and logistics in the South-South.

David Umahi, Minister of Works, said the Federal Ministry of Works had commenced immediate palliative rehabilitation after efforts to secure the cooperation of the concessionaire failed.

Umahi clarified that the emergency works were not awarded to Hi-Tech or another contractor, explaining that the ministry hired equipment directly for the intervention. He said more than 50 pieces of equipment had been deployed, with additional machinery expected.

According to him, major contractors had been directed to work on three sections of the road to restore failed portions and ease the hardship faced by motorists. He said the entire corridor would subsequently be redesigned for permanent reconstruction using reinforced concrete pavement.

The minister said the intervention would also address portions where asphalt had been removed, leaving the road base exposed to rainfall and further deterioration.

Okpebholo thanked Tinubu and Umahi for responding to the plight of commuters, urging the contractors to comply strictly with approved specifications and deliver quality work within the agreed timeframe.

‘To the new contractor, this is a road of great economic importance to Edo, Delta and Nigeria. We expect quality work, strict compliance with the approved project specifications, and delivery within the agreed timeframe. There must be no excuses,’ he said.

Delta State Governor Sheriff Oborevwori, represented by Information Commissioner Charles Aniagwu, said the intervention was significant to residents and businesses in both states, describing the Benin-Asaba Road as an important link for commerce and social ties.

Meanwhile, Umahi disclosed that the proposed realignment of the Coastal Highway would commence from the Benin bypass through Delta and Bayelsa to Eleme Junction, with the objective of diverting traffic from Benin City and improving connectivity across the Niger Delta.

Since the emergence of Continental Hotels Nigeria in the burgeoning hospitality landscape, the impact is being felt across the board.

From quality accommodation offerings, world-class facilities and personalized service, the fast-growing group has hugely impacted Nigeria’s hospitality landscape, while setting industry benchmarks.

The guests are happy for the change and opportunity to experience leisure and enjoy quality at their various levels.

The group’s portfolio, which is increasing, includes; Lagos Continental Hotel and Abuja Continental Hotel, two landmark properties serving Nigeria’s principal commercial and governmental gateways.

For Karl Hala, Group General Manager, Continental Hotels Nigeria, the hospitality company is not simply selling rooms; but helping Nigeria to host business, dialogue, celebration and opportunity.

‘But we are more than two large hotels. We are Nigerian hospitality infrastructure. Lagos connects us to business, investment, culture and international travel; Abuja connects us to government, diplomacy, development institutions and national associations,’ Hala noted.

‘We combine international operating discipline with a distinctly Nigerian sense of welcome. That combination of scale, location, people and genuine warmth defines the group’.

Hala, who has been in charge from the inception, is charged with turning the two iconic hotels into one stronger Nigerian hospitality platform, a role he has discharged with the required commitment and professionalism.

‘I have had the privilege of leading the Group structure since the two properties were brought together under one strategic direction. My responsibility has been to respect their individual histories, unite the strengths of Lagos and Abuja and create a clearer performance and investment agenda for the future,’ he explained.

Hala and his team have strengthened commercial discipline, service standards, facilities and talent development across the two hotels while increasingly operating as one group.

But the success of the hotels so far, which the owners have been commending, is team work, especially by the general managers.

While Christoph Schleissing, general manager, Lagos Continental Hotel, drives his every day from Lagos, on the other hand, Aurelio Giraudo, who is in charge at Abuja Continental Hotel, leads his team in its everyday success.

For Schleissing, no one takes the credit, but the team. ‘It is team work, which both the colleagues and executive teams are committed to and that is why we are succeeding today,’ Schleissing said. Speaking further, he noted that the combined efforts of the team help to translate the group’s strategy into the daily guest experience and play a major role in the progress and recognition of both hotels.

In the same vein, Giraudo explained that hospitality is always a team work as the guests experience the result of thousands of small decisions made by the team every day.

The group has been consistent with its efforts at growing MICE. Together, the two hotels offer approximately 1,000 rooms and 7,000 sqm Meetings Incentives Conferences and Events (MICE) capacity, supported by restaurants, leisure, wellness and business facilities. As Nigeria’s centre of government, diplomacy, development institutions, professional associations and national decision-making, the group noted that Abuja has a natural MICE advantage.

‘Abuja Continental already has the scale and location to serve that demand, and our upgraded meetings, dining and lifestyle offering strengthen the proposition further,’ it said.

Lagos is equally critical and already sits at the heart of Nigeria’s highest-level corporate and international conferencing. ‘It is the country’s commercial gateway, home to leading companies, investors, creative industries and many of its most influential business gatherings. Lagos Continental’s location, substantial room inventory and major conference capacity make it one of the city’s natural anchors for top-level meetings and conventions’.

Apart from a thriving MICE, Hala pointed to the strategic integration of the Lagos and Abuja hotels, which benefit from the group’s approach across commercial planning, revenue management, sales, talent and training, technology, engineering and procurement.

While the above gives the group greater market reach and allows successful ideas to travel faster between the properties, there has been sustained reinvestment and repositioning across the group too. In Abuja, the group is currently creating more contemporary meetings, dining, wellness and sports offerings, while also positioning the hotel increasingly as a hub for residents and visitors alike.

‘Our ambition extends beyond the traditional city hotel: a destination within a destination, where people can stay, dine, meet, exercise, socialise and enjoy themselves’.

But in Lagos, the reinvestment and repositioning take another dimension beyond the expectations of the traditional business hotel. The reason, according to the group, is because Lagos is one of Africa’s great commercial and cultural cities, and hospitality should help showcase that energy. The above calls for the group’s need to create experiences that give international and Nigerian guests additional reasons to come, stay longer and return.

Living out that unique experience, Continental Hotels Nigeria would be hosting an exclusive culinary residency at Lagos Continental Hotel for Chef Adejoké ‘Joké’ Bakare, a Nigerian-born Michelin-starred, who will be returning to the country with her Chishuru team from London. The choice of Adejoké, according to the group, is because she is the first Black female Michelin-starred chef in the UK, and her success is an extraordinary demonstration of Nigerian talent reaching the highest international level.

As well, the awards it has received since inception validate the group’s commitment to service excellence. At the recent Travellers Awards, at Akwaaba African Travel Market, which was held in Lagos, the Lagos and Abuja hotels were recognised among Nigeria’s leading hotels and included among the Top 100 Travel and Tourism Icons, among others.

‘An award celebrates yesterday. The guest arriving today is the real test. As one Continental team, we accept recognition with pride, but also as a responsibility to keep improving,’ the group said.

Like many hospitality stakeholders have observed, Continental Hotels Nigeria has continued to operate, serve and invest through a difficult economic period in Nigeria. While the consistency is commendable, and matters to the group, its ambition goes well beyond consistency.

As well, the guests, stakeholders and especially the owners, are excited for the change in the narrative. ‘The best response from ownership is not applause; it is the confidence to keep investing,’ Hala said.

According to him, the guests always notice when a hotel is moving forward. ‘They appreciate refreshed spaces, better meeting technology, stronger dining and lifestyle choices and, most importantly, teams who understand their needs.

‘The owners are exceptionally supportive, but also rightly demanding about performance, quality and accountability. That combination is healthy. Their continued investment in Abuja, our people-development agenda and future projects demonstrate genuine confidence in the long-term opportunity,’ the group noted.

For Giraudo, the confidence the owners reposed in the team and the reinvestment, also raised expectations, especially to deliver consistently across every shift, every outlet and every guest journey.

Again, the group is gaining advantage with its ability to scale in two complementary gateway cities. With the advantage, clients can work with it across Lagos and Abuja, supported by substantial room inventory and significant meeting capacity.

Its versatility enables it to host many events; from executive board meetings, diplomatic reception, major conference, wedding, product launch to extended corporate stay.

However, the group considers its workforce as the highest advantage. The staff members bring warmth and resourcefulness; its operating systems provide structure and consistency, while owners understand that facilities, technology and training must keep evolving.

The group is also impressed with the progress of the upgrade projects at the Abuja hotel.

Giraudo is more excited as he noted that the group is creating a more connected meetings, dining, wellness and sporting destination in the Abuja hotel.

While the upgrade is in phases, he assured that when completed each phase will combine to reposition the hotel for the next generation of guests.

At present, the Tower 2 meeting rooms have been completed, offering modern facilities, natural light and state-of-the-art audio-visual equipment. They also connect to the newly completed Atrium Restaurant and Bar, allowing delegates to move between networking and dining.

The hotel’s premium squash courts are reopening in October to serve fitness enthusiasts, competitive players, corporate wellness communities and lifestyle guests.

The efforts at closing the skills gap in the hospitality industry with its Continental Hospitality Academy, is equally commendable, as skills development has started inside its hotels.

The academy’s structured training and development agenda are driven by Adeniyi Agoro, the group’s cluster director of human resources and training.

The general manager of Lagos Continental Hotel, who was part of the team that flagged off the academy, is excited with the improvements so far.

From service standards, guest engagement, front office, housekeeping, food and beverage, culinary skills, operational standards, supervisory development and departmental coaching, Schleissing commended the academy.

There is also Continental Hotel Leadership Development Programme, with B4B Partners and supported by Talstack for managers. A partnership is also running with GIZ for structured industry exposure in Germany, among others.

Looking back at the success that trails its operations, the group attributes it to the people. ‘Nigerian teams are exceptionally resourceful,’ the group said.

On the World Tourism Day 2026 celebration, Continental Hotels Nigeria is calling for collaborative and intentional efforts at growing tourism, an industry it described as an economic system and not a decorative sector.

‘It connects aviation, accommodation, food, agriculture, transport, entertainment, retail, manufacturing, technology and skills.

‘When a destination wins one more international meeting, welcomes one more leisure visitor or convinces one more member of the diaspora to extend a stay, the benefit travels through that entire chain.

‘Our ambition should not simply be to fill more hotel rooms. It should be to create demand for Nigeria – and give the world more reasons to experience Nigeria for itself,’ it concluded.

Nigeria’s banks are winning ground against identity fraud, and a sweeping change to anti-money laundering rules in Europe suggests where the next battle will be fought.

Losses to electronic payment fraud fell to 25.85 billion naira in 2025, down 51 percent from 52.26 billion naira in 2024, according to data from the Nigeria Inter-Bank Settlement System (NIBSS). The number of reported fraud cases also fell, to about 67,500.

NIBSS attributed much of the decline to tighter verification and coordinated industry controls, which it said prevented about 20 billion naira in potential losses.

The threat has not gone away. Social engineering remains the most common fraud technique, NIBSS said, and Lagos accounted for 63 percent of losses.

Regulators are responding. From May 1, 2026, the Central Bank of Nigeria (CBN) introduced amendments to the Bank Verification Number (BVN) framework, including a temporary fraud watchlist, stricter enrolment rules and limits on how often customers can change their personal data.

The reforms follow Nigeria’s exit from the Financial Action Task Force (FATF) grey list in October 2025, after more than two years of work to strengthen its anti-money laundering and counter-terrorist financing framework.

In Europe, a larger overhaul is under way. From July 10, 2027, the European Union’s

Anti-Money Laundering Regulation (AMLR) will apply directly in all 27 member states, replacing a patchwork of national laws with a single rulebook.

A new supervisor, the Anti-Money Laundering Authority (AMLA), has operated from Frankfurt since 2025 and will begin directly supervising some of the largest cross-border financial institutions in 2028.

The most significant change may not be in the rules themselves but in how firms must prove they follow them.

Under the new regime, banks are expected to show evidence that every alert was reviewed, who reviewed it, how long it took and why a case was closed or escalated. Written policies alone will carry little weight.

‘Nigeria has shown that tighter identity checks work. Fraud losses halved in a single year,’ said Teodor Rogojina, chief executive of Qoobiss, a Romanian RegTech company that works with banks and fintechs in Europe. ‘The next step, and the one Europe is now writing into law, is being able to prove to a regulator, on demand, exactly what happened with every customer and every alert.’

That approach relies on connecting systems that often sit apart. In many institutions, identity checks, sanctions screening and transaction monitoring run in separate tools, while investigations are tracked in spreadsheets and email.

European lenders are increasingly moving to platforms that bring those signals into a single case, with a full audit trail. Qoobiss offers one such tool, governance, risk and compliance software that pulls screening results, transaction alerts and identity events into one investigation workflow.

Identity verification is also changing. As fraudsters use generative AI to create fake documents and deepfake selfies, banks are layering document authentication, biometric face matching and liveness detection in a single automated check.

Qoobiss’s own identity verification product (qoobiss.com/products/ontrace) combines these checks and supports identity documents from a wide range of countries, including African passports.

The shift is visible closer to home too. Across the continent, African banks are already turning to digital identity verification to cut onboarding fraud as more customers open accounts remotely.

For Nigerian lenders, the European model carries a practical lesson. BVN and NIN integration has helped close the door on many fake identities at onboarding. The harder task now is monitoring what happens after an account is open, and documenting every decision along the way.

Analysts say that matters beyond domestic supervision. Nigerian banks and fintechs with operations in Europe, or with European correspondent banking partners, will increasingly be asked to show controls that meet the new EU standard.

‘Leaving the grey list was a major achievement,’ Rogojina said. ‘Staying off it, and building trust with international partners, will depend on being able to show that the controls work every single day, not just during an assessment.’

Every morning, Mrs Oyin Alade has the same routine. She walks to a Point-of-Sale (POS) stand close to her home in Ojota, Lagos, withdraws N5,000 and heads back home.

‘The money has a purpose,’ she told BusinessDay, adding that she has four children in school, and the N5,000 is divided between them. Each child gets N1,000 for transport and snacks during the school day.

But on a Tuesday morning, when she stood in front of the familiar POS terminal and prepared to enter her PIN, the agent asked her a question.

Had she heard about the Dangote Petroleum Refinery initial public offering (IPO)?

She had heard people talking about Dangote shares, but never imagined the offer was meant for someone like her.

The agent explained that she could buy 10 shares for N5,250.

But she knew the agent. ‘He is someone I had used repeatedly for transfers and withdrawals. He is a trusted person, so there is no need to doubt him,’ she affirmed.

So she decided to try. Within minutes, the transaction was completed. The money had left her account, but this time she was not simply taking cash home. She had subscribed for Dangote Refinery shares.

For the first time, the mother of four had a small ownership stake in one of Nigeria’s most talked-about industrial projects.

The experience illustrates what is beginning to happen at POS stands across the country: a place Nigerians traditionally use to move money is becoming a place where they can begin to own assets.

Hundreds of kilometres away in Sapele, Delta State, Ese Oghenekome, a 400-level student of Abraka University, encountered the same possibility through a neighbourhood POS agent.

Oghenekome said he had gone to the POS stand for a routine transaction. Then came the conversation about Dangote shares.

The agent explained the offer, the N525 price per share and the minimum subscription of 10 shares.

‘For someone who had never bought shares before, the idea was initially unfamiliar. But the process did not require a visit to a stockbroker.

There was no need to search for an investment office. The transaction could be initiated at the same POS terminal used for ordinary financial transactions.

So Oghenekome decided to give it a try. ‘A few minutes later, the process was completed. What started as an ordinary trip to a neighbourhood POS stand ended with me being a shareholder,’ he stated.

That is the quiet human story behind the Dangote IPO. The refinery may be one of Africa’s biggest industrial projects, but the people buying into it are not necessarily wealthy investors sitting behind computers.

Some are people who save in small amounts, run businesses from kiosks, work for salaries or depend on daily income.

For them, the significance is not simply the number of shares they have bought. It is the feeling of being included.

‘You can buy it here’

That message is increasingly being delivered by POS agents.

One of them, popularly known as Papa Ada, wanted to understand exactly how the Dangote IPO could be sold through a POS terminal.

Rather than guessing, the agent contacted Moniepoint for clarification.

The process was explained: a customer could approach the agent, select the investment option on the terminal, provide the required details, choose the number of shares and make payment.

Once Papa Ada understood how it worked, the agent began talking to customers.

The conversations started with people who came to withdraw cash. Then those making transfers. Then people paying bills.

Instead of ending every transaction with a goodbye, the agent began asking customers whether they had heard about the Dangote IPO.

‘Some were curious. Some asked how much they needed. Others wanted to know whether they needed an investment app or had to visit a broker,’ Papa Ada told BusinessDay.

The agent could now explain that the subscription was available through the POS terminal. The response was bigger than expected.

‘By the following day, 10 customers had expressed interest in buying the shares,’ he disclosed.

For Papa Ada, the experience showed that the biggest barrier may not always be the amount required to invest. Sometimes, people simply need someone they trust to tell them that they can participate.

The first-time investor effect

That same feeling is visible in conversations among Nigerians on social media.

One user, Kosisochi, posted on the day the IPO opened that she had bought Dangote shares through the Moniepoint app and was seeking reassurance about the transaction.

For a first-time investor, the question was understandable. The money had left her account. Had she really just bought shares?

Another user described the attraction of being able to participate without what Nigerians often call ‘dogon turenchi’ – complicated procedures and unfamiliar financial language.

The appeal is straightforward. You do not necessarily need to understand the entire architecture of the Nigerian capital market before making your first investment.

You need to know what you are buying, how much it costs and how to complete the transaction.

For people who have spent years watching the stock market from the outside, that can be the difference between thinking about investing and actually becoming an investor.

This is where the story becomes bigger than one IPO. For years, Nigeria’s POS network has been one of the most visible signs of financial access.

The terminals are everywhere, outside markets, beside roads, in neighbourhood shops and near residential areas.

People use them to withdraw cash, transfer money and make payments.

The Dangote IPO is adding another function. The same infrastructure that helps Nigerians move money is now helping some of them put money into ownership.

Moniepoint Microfinance Bank and TeamApt Ltd. have collaborated to make the Dangote Petroleum Refinery IPO available through Moniepoint’s banking applications and nationwide POS network.

The offer gives Nigerians the opportunity to subscribe at N525 per share, with a minimum of 10 shares, or N5,250, and a maximum of 500 shares per transaction.

Moniepoint says its POS network spans all 774 local government areas in Nigeria.

Babatunde Olofin, managing director and chief executive officer of Moniepoint Microfinance Bank, said the model reflects the company’s belief that financial services should extend beyond transactions to opportunities to grow and build wealth.

‘Moments like this are exactly why we built Moniepoint the way we did,’ Olofin said.

Dennis Ajalie, managing director and chief executive officer of TeamApt Ltd., said the company’s payment infrastructure was connecting a capital-markets opportunity with a distribution network that reaches millions of Nigerians.

The technology matters. But on the ground, the human connection may matter even more.

For Mrs Alade, the stock market did not begin with a financial newspaper or a trading screen. It began with a familiar face at a POS stand.

For the customer in Sapele, it began with a routine visit to an agent. For the customers who responded to Papa Ada’s questions, it began with a conversation while they were carrying out an everyday financial transaction.

That is what makes the development different. The capital market has traditionally asked Nigerians to come to it. This time, an investment opportunity is being taken to where Nigerians already are.

At the roadside kiosk. At the neighbourhood shop. At the POS terminal around the corner. And for someone buying shares for the first time, that small change in location can feel enormous.

The journey from withdrawing N5,000 to owning 10 Dangote shares may take only a few minutes.

But for the person holding the receipt afterwards, it can represent the first time the stock market feels like it belongs to them too.

Only three African stock markets have crossed the $100 billion market-capitalisation threshold, highlighting the concentration of the continent’s listed equity market and South Africa’s overwhelming lead over its regional peers.

South Africa’s stock market stood at $1.49 trillion as of September 21, down 0.6 percent from $1.5 trillion recorded on May 15, according to data compiled by BusinessDay.

Its market is more than 12 times the size of Nigeria’s $122 billion market and over 13 times larger than Morocco’s $111.09 billion exchange.

Nigeria has strengthened its position as Africa’s second-largest stock market, with market capitalisation rising 4.27 percent from $117 billion on May 15 to a record $122 billion.

Morocco, meanwhile, remained broadly unchanged at $111.09 billion, leaving a gap of about $11 billion between the Nigerian and Moroccan markets.

The sharp contrast between the three markets above $100 billion and those below the threshold becomes even more pronounced further down the ranking.

Egypt, Africa’s fourth-largest stock market, had a market capitalisation of $83.5 billion, up from $81 billion in May, while Botswana rose to $80.6 billion from $75 billion over the same period.

The next tier is significantly smaller. The BRVM, the regional exchange serving several West African economies, had a market capitalisation of $36.76 billion, while Kenya’s Nairobi Securities Exchange climbed to $31.9 billion from $25 billion in May.

Ghana also edged higher to $23.46 billion from $22 billion, while Tunisia and Tanzania stood at $15.8 billion and $15.18 billion, respectively, compared with $12.6 billion and $13 billion in May.

The figures underline the heavy concentration of Africa’s listed equity markets.

South Africa’s $1.49 trillion market is larger than the combined market capitalisation of the other nine exchanges in the ranking by a wide margin, underscoring the depth and scale gap between the continent’s largest market and its peers.

The disparity is even more striking at the company level.

BHP Group Ltd, the largest listed company on the South African market, has a market capitalisation of about $219.19 billion – almost twice the entire Nigerian market and roughly equivalent to the combined value of Nigeria and Morocco.

Despite the wide differences in market size, African equities have gained momentum this year.

Daba Finance, in a recent report, said African stock markets had recorded ‘one of their strongest performances in recent history’, with equities delivering double-digit gains in local currencies across the continent.

‘Many markets also generated exceptional returns in US dollars and euro terms,’ the platform said, attributing the performance to currency stabilisation, easing inflation in key economies and renewed global appetite for frontier and emerging-market assets.

The latest figures point to a two-speed African equity market: a trillion-dollar South African giant, two markets above $100 billion and a much larger group operating well below that threshold.

Nigeria has moved further above the $100 billion mark since May, while Morocco remains close behind. But the continent’s overall market-capitalisation landscape remains defined by the enormous gap between South Africa and its regional peers.

Nigerian micro, small and medium enterprises must meet international standards and quality to compete beyond borders.

Speaking on the theme, ‘Beyond Borders, Transforming MSMEs for Global Competitiveness,’ Oluwasegun Ogunsanya, chairman of the Nigeria Sovereign Investment Authority, said global competitiveness is not about size but the ability to deliver the same quality every time.

‘It means that your production processes, the quality of your product or service, and the experience you give customers are of international standard. And importantly, they are predictable,’ he said.

Using a bottle of Coca-Cola as an example, he noted that it tastes the same in Kano, Lagos, London or Atlanta by deliberate system, not accident. Global businesses, he said, put quality and customer trust first.

Ogunsanya said Nigerian businesses are already facing global competition at home, from Chinese e-commerce platforms shipping directly to customers to Indian pharmaceuticals and Turkish processed foods.

‘The question is no longer whether we become globally competitive. The question is, how quickly can we become globally competitive?’ he asked.

He pointed to two near-term opportunities: the African Growth and Opportunity Act (AGOA), which gives duty-free access to the U.S. market for thousands of products and was extended in July 2026, and the African Continental Free Trade Area (AfCFTA), under which close to 10,000 certificates of origin have been issued.

The 1.4 billion-person African market, plus export of services, offers scale without containers, he said, citing Nigeria’s 80 percent 4G coverage, English-speaking workforce and time-zone proximity to Europe.

Ogunsanya listed 10 requirements for going global: a big vision backed by execution; a first-class team; a product that solves a real market problem; consistency before scale; non-negotiable standards; audited financial records; scale through aggregation; depth before breadth; brand as a promise; and deliberate use of technology.

‘Keep your books as if someone is going to buy your business tomorrow. One day, somebody might,’ he said, adding that cash discipline is critical.

‘Businesses don’t pay salaries with accounting profits. They pay salaries with cash.’