Category: Nigerian Tribune

In a determined effort to ensure that newborn babies receive optimal motherly care, the Bauchi State Government has approved the implementation of six months of maternity leave for breastfeeding mothers.

The approval was granted by the State Executive Council (SEC) during its extraordinary meeting held on Tuesday at the Executive Chambers of the Governor’s Office, Bauchi.

The new six-month maternity leave applies to all nursing mothers across ministries, departments, and agencies (MDAs) under the State Civil Service.

In addition, the SEC also approved the establishment of crèche centres in all government offices to enable nursing mothers to keep their babies safely while on duty.

The State Head of Civil Service, Barr. Mohammed Sani Umar, disclosed this while briefing journalists on the outcome of the SEC meeting. He stated that the Council graciously approved the extension of maternity leave from the initial four months to six months, which will be legislated by the State House of Assembly.

Barr. Sani Umar explained that lactating mothers will be entitled to six months of leave from the date of delivery and, upon resumption, will be allowed a few hours off duty each day to care for their babies.

According to him, the Council’s approval is in line with the Civil Service Regulations under Sections 1122 and 1126, and an establishment circular will be issued to that effect.

The Head of Service further disclosed that the Ministry of Health and Social Welfare has been directed to collaborate with relevant agencies to ensure that a conducive workplace environment is provided for nursing mothers, which may include crèches.

This development marks the culmination of long-standing advocacy efforts by local, national, and international civil society organizations (CSOs) in the state.

The Imo State Ministry of Primary and Secondary Education has announced that it will soon commence a statewide monitoring of illegal private schools in the state.

The exercise is targeted at identifying and closing illegal private schools, as well as operating with expired approval letters.

The Ministry warned that the operation would be thorough and uncompromising.

This is contained in a statement issued in Owerri weekend by the Commissioner for Education, Prof. B. T. O. Ikegwuoha.

He threatened to arrest proprietors whose schools had earlier been shut down for various infractions, including those marked in red who later reopened without official authorization

He described such actions as clear acts of defiance and illegality.

The Ministry further stated that it would not be liable for any consequences arising from the enforcement exercise, urging proprietors to regularize their operations immediately.

He said, ‘to be forewarned is to be forearmed. This is the final warning.’

President Bola Ahmed Tinubu has directed the National Hajj Commission of Nigeria (NAHCON) to immediately effect the downward review of the 2026 Hajj fares.

Vice President Kashim Shettima has accordingly urged NAHCON) to come up with new fares for the exercise within two days.

Senior Special Assistant to The President on Media and Communications

(Office of The Vice President), Stanely Nkwocha, made this known in a statement on Monday in Abuja.

According to the statement, Shettima handed down the President’s directive at a meeting with management and board members of NAHCON at the Presidential Villa.

Shettima noted that the directive had become imperative considering continued appreciation of the naira against the dollar – a primary determinant for the pilgrimage fares.

He called for synergy among national and state officials, including state Governors, in streamlining and adopting a new set of fares for the exercise.

He aslo urged prompt action by all stakeholders to ensure quick payments and timely remittances to the Central Bank of Nigeria (CBN) to facilitate a hitch-free exercise.

Fielding questions from journalists shortly after the meeting with the VP, Deputy Chief of Staff to the President, Senator Ibrahim Hadeija, said the meeting convened at the instance of the Vice President was to finalise preparations for the 2026 Hajj operations, particularly the determination of fares for the 2026 exercise.

He explained that the goal is to reduce the amount payable by pilgrims for the exercise, given the current trend in the economy occasioned by ongoing reforms being undertaken by the Tinubu administration.

He said, ‘Rates have continued to improve steadily, with the naira appreciating based on the effects of the economic reforms of the government. The Vice President felt that if pilgrims paid ?8.5 million to ?8.6 million based on negative exchange rate last year, and the exchange rate has improved, then the changes should reflect in the current fares, and the benefits should also be passed to the prospective pilgrims.

‘So, the commissions and all officers of the Hajj commission are here and they have been told to immediately go to look at more realistic exchange rates. If we achieve what we envisage, then we will have a very significant reduction in the Hajj.’

On his part, Secretary of the National Hajj commission (NAHCON), Dr Mustapha Mohammad, said the the President’s directive would increase the number of intending pilgrims for this year’s exercise.

‘It is a welcome development and the lower the Hajj fare, the better for Muslim faithful intending to perform Hajj. So, as directed by the Vice President, we will work tirelessly between today and tomorrow to see that we reduce it to the bearerest minimum and affordable rate for every Muslim faithful to have the opportunity to perform this very important pillar of Islam.’

Also, the Chairman, Kebbi State Muslim Pilgrims Welfare Board and Deputy Chairman, Forum of the Chief Executive of 36 and the FCT Chairmen of pilgrims Board, Alhaji Faruk Aliyu Yaro, expressed delight with the presidential directive.

‘We are very happy because the President and the Vice President have already intervened. We thank God for what they have said, which is expected to bring down the cost of Hajj fare. So, we are happy,’ he said.

Thousands of protesters under the group Partners for National Economic Progress (PANEP) marched through major streets in Kaduna on Monday, accusing oil industry cartels of sabotaging local refining efforts and Nigeria’s economic recovery.

The protest began around 8 a.m. at Murtala Mohammed Square and moved through key roads in the city, with participants carrying placards and chanting solidarity songs.

The crowd displayed signs with messages like ‘Protect Local Refining,’ ‘End Fuel Import Cartel,’ and ‘Support Dangote Refinery,’ calling for the government to take steps against what they described as a coordinated effort to keep Nigeria dependent on imported fuel.

Comrade Igwe Ude-Umanta and Comrade Dahiru Umar Maishanu, who addressed the protesters separately, said the march was part of a larger campaign happening across the country to expose what they called ‘economic saboteurs.’

According to Maishanu, ‘This struggle is against the cartel that destroyed our public refineries, killed the textile industry, and now wants to strangle the Dangote Refinery,’ Ude-Umanta declared to thunderous applause. ‘We will not let them succeed. The days of holding Nigeria hostage are over.’

The organisers said the movement started in Abuja on October 2 as part of what they described as a national push to stop groups that profit from Nigeria’s economic problems. They pointed to Kaduna as a symbolic location, noting the collapse of the textile industry in the city.

‘Kaduna used to be a textile hub before the same pattern of sabotage destroyed it,’ he lamented. ‘Today, they want to replicate that on our petroleum sector by frustrating local refining. We will resist them.’

The protest, titled ‘National Unity Against Sabotage: Reclaiming Our Petroleum Sector for the People,’ urged the federal government to take quick action to protect the Dangote Refinery from what the group called ‘systematic attacks’ by oil importers.

Ude-Umanta criticised the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), claiming they were working against the refinery’s success.

‘What PENGASSAN did was not unionism, it was sabotage,’ he said. ‘The Federal Government should have arrested their leadership to serve as deterrent. We cannot allow people to hide under labour unions to commit crimes against our economy.’

PANEP called on President Bola Ahmed Tinubu, who is also the Minister of Petroleum Resources, to make sure local refineries such as Dangote’s are sold crude oil at the same rate given to foreign buyers. The group said this would help maintain the refinery’s operations and attract investment.

The protesters said the government must end or heavily tax fuel imports to protect local industries. ‘Countries that place tariffs are not stupid; they are protecting their economies,’ Ude-Umanta added.

They also alleged that the oil cartel was blocking the sale of Liquefied Petroleum Gas (LPG) and Aviation Turbine Kerosene (Jet A1) produced within Nigeria, keeping prices high for consumers.

‘They are punishing Nigerians to protect their greed,’ he said.

Protesters commended the Dangote Refinery for what they said were early efforts to bring down the prices of petrol and diesel, claiming it has already made life easier for many.

‘This movement is about economic salvation,’ Maishanu said. ‘If we allow them to kill Dangote Refinery, no investor will ever risk bringing money into this country again. We must protect this refinery as our own.’

The protest ended with a call on President Tinubu to, in their words, ‘crush every enemy of Nigeria’s economic progress.’

The Federal Airport Authority of Nigeria (FAAN) has commenced the implementation of a cashless policy, introducing a single wallet for all payments at the Nnamdi Azikiwe International Airport (NAIA), Abuja.

While unveiling the contactless payment system, the Managing Director of FAAN, Mrs Olubunmi Kuku, said the new initiative will block revenue leakages across airports in Nigeria.

‘This is more than a new payment system; it is a fundamental upgrade to the passenger experience and a powerful reaffirmation of our commitment to transparency and excellence.

‘Following its successful launch in the dynamic city of Lagos, I am proud to officially announce the full deployment of ‘OPERATION GO CASHLESS here in Abuja, the Centre of Excellence. This is a comprehensive, cashless, and contactless payment solution for all our airports.

‘Effective September 29th, 2025, we have started phasing out physical cash at all FAAN revenue points, including access gates, car parks, and VIP lounges,’ Kuku said.

She explained that ‘our airports are the gateways to our nation, they are the first impression at many of our revenue points; The access gates, the car parks, and the lounges have been defined by an outdated model: cash.

‘This reliance on physical currency creates a chain of challenges. It causes delays, introduces operational inefficiencies and vulnerabilities in our revenue collection.’

Represented by the Director Commercial and Business Development, Ms Adebola Agunbiade, Kuku reaffirmed that the initiative will ensure efficiency and convenience.

‘With a simple tap of your new FAAN Contactless Card, you can make instant payments. This technology is not only fast and convenient but also promotes enhanced hygiene.

‘The card features a unified wallet, meaning a single balance can be used across multiple registered cards, perfect for easy management for families or corporate users. It is available to all users, including our valued international travellers, and once registered, it has nationwide validity across all FAAN-managed airports.

‘Your security is our priority. You will receive real-time SMS notifications for every transaction and can monitor your balance and history via a secure online dashboard. Should your card be lost or stolen, you can instantly block it through this same dashboard. ensuring your funds are always protected,’ she said.

She stated further that the benefits of the card are clear: ‘For the Passenger: A faster, smoother journey from the access gate to the parking lot. Enhanced security, as you no longer need to carry large amounts of cash. Real-time SMS notifications for every transaction give you full control.

‘For FAAN and the Nation: It means optimised revenue collection, significantly reduced leakage, and a robust system of financial accountability. It aligns our airports with global best practices, strengthening Nigeria’s position in international aviation and tourism.’

Also speaking, Alexander Edekhe of Business Lead Public Sector said, ‘We are glad to power this initiative for easy payments at the airports across the country ‘.

FAAN is giving a transitional widow of six months to phase out completely cash transactions at the airport.

AIICO Insurance Plc has once again reaffirmed its leadership in Nigeria’s insurance industry, clinching the coveted title of Outstanding Insurance Company of the Year at the 2025 Marketing Edge Brands and Advertising Excellence Awards held in Lagos.

The honour marks the third consecutive year of recognition for the insurer at the prestigious event, underscoring its consistency, innovation, and enduring impact on the Nigerian financial services landscape.

In 2023, AIICO was named Insurance Company of the Decade, followed by another top industry honour in 2024, before being crowned this year’s Outstanding Insurance Company of the Year.

According to the award organisers, AIICO’s selection was based on its outstanding performance, innovative solutions, and long-standing contributions to the sector.

Speaking on the recognition, Mr. Segun Olalandu, Head of Marketing and Communications at AIICO Insurance Plc, said:

‘We sincerely thank the organizers of the Marketing Edge Awards for consistently recognising and honouring the AIICO brand over the years.

This recognition affirms our strength and relevance in the marketplace. At AIICO, we remain intentional about delighting our customers, meeting their needs, and surpassing their expectations with innovative solutions and superior service.’

With over 60 years of service, AIICO Insurance has built a strong reputation as a trusted composite insurer, providing life and general insurance, health insurance, and investment management services.

Founded in 1963, the company continues to create and protect wealth for individuals, families, and corporate organisations, making it one of the most enduring and customer-focused brands in Nigeria’s insurance sector.

This latest recognition further cements AIICO’s reputation as a market leader and a brand of choice, setting the benchmark for service excellence and innovation in the Nigerian insurance industry.

First City Monument Bank (FCMB) Group Plc has opened a N160 billion public offer to bolster its capital base and enable its banking subsidiary, First City Monument Bank Limited, to retain its international banking licence under the Central Bank of Nigeria’s (CBN) new recapitalisation policy.

The offer, which consists of 16 billion ordinary shares priced at N10 each, will run until November 6, 2025. The proceeds will be channelled toward meeting the CBN’s new N500 billion minimum capital requirement for international banks, as part of the regulator’s ongoing sector-wide recapitalisation drive.

This new raise marks the second phase of FCMB’s three-stage capital plan and follows its N147.5 billion share sale in 2024-the bank’s first equity offering in 16 years. That 2024 exercise was oversubscribed by 33 per cent, attracting 42,800 investors, 92 per cent of whom participated digitally. Market analysts expect similar investor enthusiasm for the 2025 offer, given FCMB’s strong performance and improving investor sentiment in the banking sector.

FCMB Group has recorded impressive growth over the past three years. Between 2022 and 2025, group profit before tax (PBT) rose at a compound annual growth rate (CAGR) of 72 per cent, reflecting the group’s strengthened operational efficiency and diversified income streams.

Non-bank subsidiaries also delivered remarkable results, with a 61 per cent PBT CAGR. The standout performers include Credit Direct Finance Company Limited, Nigeria’s largest non-bank lender, and FCMB Capital Markets Limited, which ranked top of the FMDQ fixed income league table for bond listings and commercial paper issuances in the first half of 2025.

Digital transformation has been another major growth catalyst. FCMB’s digital revenues have grown by over 58 per cent annually since 2022, now accounting for 13.9 per cent of the group’s total gross earnings. As of June 2025, digital lending represented 9% of the total loan portfolio, underlining the bank’s ongoing transition toward technology-driven banking services.

Analysts describe FCMB’s stock as offering ‘a rare blend of deep value and high growth,’ noting its estimated 2025 price-to-book ratio of less than 0.6x-an attractive valuation compared to peers in the Nigerian banking sector.

Upon completion of the current share sale, FCMB Group plans to finalise the sale of minority stakes in two of its non-bank subsidiaries. The proceeds from these divestments will also be injected into the banking arm, further strengthening its qualifying core capital.

This combined effort is expected to lift FCMB’s total capital above the ?500 billion threshold required to maintain its international banking licence, effectively closing the group’s recapitalisation programme ahead of the CBN’s March 2026.

LG Electronics (LG) has been recognised with 17 awards at the inaugural IFA 2025 Innovation Awards, including the top distinction, Best of IFA title. Established this year, the awards celebrate products that set new benchmarks in innovation, technology, design and market impact.

With over 1,800 participating companies, winners were selected in 16 categories, including Mobility, Home Appliances, Home Entertainment, Design and Smart Home.

The highest honors – Best of IFA, Best Tech Innovation and Best Brand – were reserved for the most outstanding entries.

The LG SIGNATURE OLED T, the world’s first wireless transparent TV, earned the Best of IFA award, underscoring LG’s leadership in advanced television technology. The groundbreaking product also won Best in Home Entertainment, achieving a double win at this year’s awards.

In addition to securing the Best of IFA title, LG received five Category Best awards in Mobility, Accessibility, Home Appliances and Home Entertainment, along with 11 Category Honoree recognitions in Home Appliances, Design, Smart Home and Home Entertainment. Collectively, these distinctions strengthen the company’s reputation as a global innovation leader and trusted industry pioneer.

In Mobility, LG’s Spielraum received the Best in Mobility award. This AI-powered mobility space solution blends personal wellness with multi-sensory experiences.

Its compact cabin integrates built-in appliances, LG ThinQ ON and entertainment features, introducing a new mobility-linked lifestyle that expands the LG AI Home concept.

In Accessibility, LG’s Comfort Kit was named Best in Accessibility Focused Product. Designed to improve usability for people of all ages and abilities, it highlights LG’s focus on inclusive design.

In Home Appliances, LG’s AI Sense Clean Dishwasher and Microplastic Filter claimed the Best in Home Appliances award.

The dishwasher’s intelligent wash system optimizes cycles and wash time based on load size and soil levels, while the filter removes microplastics released during the laundry cycle, combining convenience with environmental responsibility.

In addition to securing multiple Category Best awards, LG was also given Honoree distinctions across a wide range of fields, from Home Appliances to Smart Home, further underscoring its competitiveness in the global market. In the Best of Home Appliances category, LG earned four Honoree recognitions for its cutting-edge laundry and cleaning solutions, each boasting advanced performance with thoughtful design.

The LG WashTower simplifies laundry with intuitive controls and AI-powered features, while the Washer and Dryer with Heat Pump enhances efficiency with reduced energy consumption.

For floor care, the LG Robot Vacuum with Built-in Station features an auto-opening door that conceals the unit when not in use, and the LG Wet and Dry Stick Vacuum Cleaner employs AI Roller Control to sense movement direction, helping reduce wrist strain.

‘Winning 17 honors, including the prestigious Best of IFA award, is a strong validation of LG’s leadership in innovation and customer-focused solutions, said Mr. Hyoung Sub Ji, Managing Director, LG Electronics West Africa.

‘For us in Nigeria and across Africa, it reinforces our promise to deliver technology that is not only advanced, but also meaningful to everyday life.

‘We want consumers to see LG as the most trusted brand, one that consistently exceeds expectations and makes life better in every home.’

The company also received four Honoree awards in the Best in Design category for products that blend style and functionality.

The Washer and Tumble Dryer Pair and TrueSteam Dishwasher present refined designs that integrate seamlessly into modern kitchens.

The Next LG Massage Recliner complements living areas with its elegant aesthetics, while the LG Styler Mini offers a compact, premium solution that maximizes functionality in smaller spaces.

Designed to fit effortlessly into connected home ecosystems, the LG Robot Vacuum with Objet Station was acknowledged in the Best in Smart Home category. With automated docking, smart scheduling and ThinQ compatibility, it showcases LG’s expertise in building cohesive, AI-driven home solutions.

Furthermore, LG received recognition in the Home Entertainment category with Honoree awards for the LG Wireless OLED TV (M5) and the LG StanbyME 2, reinforcing the company’s global leadership.

For Nigerian consumers, these awards are a reassurance that every LG product purchased locally carries the same global standard of excellence, innovation, and trust.

Global credit ratings agency Moody’s Investors Service has cautioned that Nigerian banks could face renewed profitability pressures following the Central Bank of Nigeria’s (CBN) recent decision to cut the Monetary Policy Rate (MPR) to 27 percent from 27.5 percent.

The CBN said the 50-basis-point reduction was aimed at sustaining disinflation, encouraging credit expansion, and stimulating economic recovery. However, Moody’s warned that the move could squeeze banks’ net interest margins (NIMs) – a key measure of profitability – unless lending volumes increase significantly to offset declining yields.

‘We expect the lower policy rate to drive a decline in yields on loans and government securities that will outpace the related decrease in the cost of deposits,’ Moody’s stated. ‘Deposit costs typically adjust more slowly than lending rates,’ he added.

According to the rating agency, the narrowing of margins could erode banks’ earnings capacity in the near term, particularly in an environment of moderating inflation, volatile foreign exchange markets, and weak consumer demand.

Moody’s noted that net interest income-the difference between what banks earn on loans and investments versus what they pay on deposits-accounted for 62 percent of Nigerian banks’ operating income in 2024. A reduction in interest margins could therefore weigh heavily on overall profitability.

While the CBN’s simultaneous move to lower the Cash Reserve Requirement (CRR) may offer some liquidity relief, the ratings agency believes the benefit will be ‘only partial’ and insufficient to fully offset the earnings impact of lower policy rates.

The report added that Nigerian banks are already navigating tight operating conditions, including high funding costs, rising credit risks, and an evolving regulatory environment linked to the ongoing recapitalisation exercise.

Moody’s advised that banks must diversify income sources and strengthen non-interest revenue streams-such as fees, commissions, and digital services-to cushion the effects of compressed interest margins.

Analysts also expect larger Tier-1 lenders, with stronger balance sheets and wider customer bases, to weather the impact more effectively than smaller banks that rely heavily on interest income.

The CBN’s latest policy move aligns Nigeria with global monetary easing trends, as several central banks across emerging markets adopt lower rates to stimulate growth. However, Moody’s cautioned that the long-term effect on the banking industry would depend on how effectively lenders adapt to thinner margins while sustaining asset quality and capital adequacy.

For now, the focus shifts to how Nigerian banks recalibrate their strategies in response to a lower interest rate environment-balancing growth ambitions with the need to safeguard profitability.

The management of Redeemer’s University, Ede, Osun State, on Monday disclosed that the citadel of learning would be graduating the highest number of first-class graduates, totalling 185, who attained the top academic honour in the 2025 graduating set, since the inception of the institution.

He also hinted that the institution has been selected by the Tertiary Education Trust Fund as one of the eight private universities in Nigeria for the training of TETFUND-sponsored candidates for postgraduate degrees.

The Vice-Chancellor, Professor Shadrach Olufemi Akindele, while revealing these at a press conference to mark the university’s 17th convocation ceremony and 20th anniversary celebration, however, gave the total number of students graduating as 1,341 across undergraduate and postgraduate programmes during the convocation slated for October 9 and 10.

He further gave 662 as the number of students to be graduating with second class upper, 410 second class lower, 79 third class, and 5 pass.

The Vice Chancellor stressed that at the postgraduate level, a total of three hundred and thirty-eight students are graduating. This is made up of 109 students at the postgraduate diploma level, 65 students with a Master of Arts degree, 120 with a Master of Science degree, 25 with a Master of Business Administration and 19 with a Doctor of Philosophy degree.

He said, ‘The university milestone is a reflection of our commitment to academic excellence and character development, and the 2025 convocation represents a season of ‘double honour’ for the faith-based institution.

‘We are not only graduating from another distinguished class, the indomitable set of 2025, but we are also celebrating 20 years of Redeemer’s University. Indeed, this is a season of double honour.’

On the selection by the Tertiary Education Trust Fund as one of the eight private universities in Nigeria for the training of TETFUND-sponsored candidates for postgraduate degrees, the university don stated that, ‘the selection was a remarkable achievement for the university considering that Nigeria has 168 private universities presently.’

‘In recognition of the quality of postgraduate training in our university, the Tertiary Education Trust Fund (TETFUND) of the federal government of Nigeria has selected Redeemer’s university as one of the eight private universities in Nigeria for training of TETFUND-sponsored candidates for postgraduate degrees,’

‘Also, the university’s African Centre of Excellence for Genomics of Infectious Diseases (ACEGID), led by Professor Christian Happi, continues to earn global acclaim. Happi was recently listed among TIME magazine’s 100 Most Influential People of 2025 for his pioneering work in genomics and public health,’ he concluded.