Nigeria to showcase 105 ‘NextGen’ innovators in London grand finale

Nigeria will showcase 105 of its brightest innovators at the Grand Finale of the NextGen Innovation Challenge 2025 in London, as the National Board for Technology Incubation (NBTI) described it as the nation’s most defining innovation moment of the decade.

The Director General of NBTI, Dr Kazeem Kolawole Raji, announced this at a world press conference in Abuja on Thursday, calling the initiative ‘a national movement, not just a competition.’

He said, ‘On October 9, 2025, in the city of London, 105 of Nigeria’s most outstanding innovators, selected from over 3,000 ground-breaking entries, will converge at the Hilton London Paddington to pitch revolutionary solutions across HealthTech, AgriTech, FinTech, Clean Energy, Artificial Intelligence, IoT, and more,’ Dr. Raji declared.

He added: ‘This is not merely a competition-it is a bold, ambitious, and coordinated effort to connect grassroots ingenuity with global capital; to match local innovation with international collaboration; and to catalyse a new generation of entrepreneurial problem-solvers powered by vision, excellence, and global ambition.’

The NextGen Innovation Challenge was launched on May 28, 2025, in Abuja by the Minister of Innovation, Science, and Technology, Chief Uche Geoffrey Nnaji.

A national showcase followed in July, where the top 105 innovators, representing every state and the FCT, presented their projects before an audience of policymakers, industrialists, investors, and diplomats.

According to Raji, the projects went through an international vetting process ‘led by Prof. Hari Mohan of London South Bank University, a world-renowned and award-winning inventor,’ ensuring what he called ‘transparency, global standardisation, and credibility.’

The innovations range from a smart wearable Bra-X for early breast cancer detection to AI-controlled drones for precision farming, ventilators capable of supporting six patients simultaneously, affordable clean energy systems, and next-generation financial technologies.

‘These innovations are proof that Nigeria’s creativity and problem-solving genius can compete anywhere in the world,’ the NBTI chief said.

Explaining the choice of venue, Dr. Raji noted that London was a hub for global capital and innovation.

‘London provides the ideal platform to connect Nigerian innovators with global venture capitalists, present their ideas to diaspora investors, network with European industry leaders and policy influencers, and unveil strategic innovation partnerships,’ he said.

The London finale will feature innovation pitches, a consortium project showcase-including the $1 billion Innovate Africa-Israel Solar Project-and global spotlights from SpinLab (Germany), Innovate UK, Zumah FinTech, and the Commonwealth Roundtable.

Keynote speakers will include the CEO of Tesla Group Europe, Dr. Shambhu Pokharel; the UK’s Global Entrepreneur Programme lead; Nigeria’s Minister of Innovation, Science and Technology, Chief Nnaji; and Amanda Frankel Haber of Innovation: Africa.

Raji expressed gratitude to President Bola Ahmed Tinubu, saying his ‘Renewed Hope Agenda has rekindled the flame of innovation and empowered young Nigerians to dream beyond borders.’

He also commended the Ministry of Foreign Affairs, the British High Commission, and state governors who sponsored innovators from their states.

He saluted Air Peace Chairman, Allen Onyema, for providing subsidised and complimentary flights to London.

‘Your patriotism is unmatched, and your commitment to nation-building inspires us all,’ Raji said.

The DG also announced the launch of its Global Innovation App, designed to connect Nigerian innovators with diaspora markets and international investors.

Looking ahead, Raji revealed that the NextGen Innovation Challenge 2026 would be launched at the London finale, with entries opening in the first quarter of 2026.

‘Let the world take notice: Nigeria has arrived-not as a consumer of technology, but as a global leader in innovation. We are not exporting talents-we are amplifying solutions from Africa to the world,’ he clarified.

One-party state dangerous, worse than military regime – Ex-Senate minority leader

Former Senate Minority Leader, Senator Simon Mwadkwon, has dismissed the insinuation that Nigeria may become a one-party state, stating that the country’s complexity cannot tolerate such political arrangements regardless of the strength of the political party in power.

The former lawmaker, who posited that one-party state is dangerous and worse than military regime, added that those attempting to coerce, or lure elected political office holders from opposition parties into the ruling party are wasting their time and that voters will have the final say when elections are held.

He told newsmen in Jos, Plateau State, that there is speculation that Governor Caleb Mutfwang of Plateau State and four other governors will soon join the ruling All Progressive Congress (APC), saying however that Governor Mutfwang has repeatedly denied the speculation despite pressure from some quarters.

‘Attempting to establish Nigeria as a one-party state is futile. A one-party state can be much more deadly than a military regime. Governor Mutfwang is at ease in the PDP and would work with whoever becomes the president of Nigeria in 2027, regardless of party, to advance the nation; therefore, those calling on him to join APC would be better off burying the rumor.

‘The Plateau State Governor has publicly denied joining the APC on several occasions; therefore, I don’t think he has any interest in doing so. Despite several appeals, he has refused to back down on this issue,’ he stated.

He expressed optimism that the Peoples Democratic Party (PDP) will win elections at all levels in Plateau State come 2027, saying the party’s relationship with the people of the state has been symbiotic since the inception of this democratic dispensation.

On the insecurity in Nigeria, particularly in the northern part of the country, Senator Mwadkwon maintained that state police will go a long way towards the myriad of security challenges, adding that those opposed to it have no compelling reason to support their position given the number of people killed, kidnapped, and properties destroyed.

He declared, ‘I am a strong supporter of the State Police. Nigeria will not be the first nation to implement this; at one point in time, when we had what was known as local government native authority police in Northern Nigeria, crime was at its lowest.

‘The idea was that the police should be close to the people, but my position is that those against it may have hands in the killings. If those opposing it had been victims, either directly or indirectly, they would not oppose it. Human lives are sacrosanct and should be protected.’

He implored the National Assembly and the government to go to the grassroots and sample the opinion of the people on whether they want state police or not instead of relying on the elites alone to discuss the issue.

Abuja’s centrality, agro-allied potentials strategic to boosting Nigeria’s non-oil revenue – Dantsoho

The Managing Director of Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho, on Thursday said that the centrality of Abuja, coupled with its rich agro-allied potentials, is germane to strengthening NPA’s commitment to supporting the Federal Government’s efforts to continuously grow non-oil revenue by connecting local value producers in the non-oil value chain to identified international clusters of demand for their goods.

According to him, the position of Abuja as the centre of the country is strategic to the NPA’s renewed trade facilitation focus that places a high premium on port-hinterland connectivity, which Abuja’s centrality accentuates, presents a seamless linkage with the comparative advantages inherent in all regions of the federation that can be harnessed to sustain growth in the volume and value of Nigeria’s exports.

He said that as Nigeria’s foremost trade facilitation platform, the authority is always proud to be associated with the noble cause the Abuja International Trade Fair represents, especially seeing that trade remains the most veritable tool for actualising most of Nigeria’s economic aspirations.

The NPA MD used the opportunity of the occasion of the ‘NPA Special Day’ to invite the entire trading and investing public to explore the tailor-made simplified export processes and other vistas of opportunity present at the Nigerian Ports Authority.’

He said, ‘As some of us are aware, in our bid to contribute to the strengthening of the domestic economy through the promotion of balance of trade, we established the Export Process Terminal (EPTs) to simplify the hitherto burdensome process of exporting Nigerian goods.’

Dantsoho explained that the EPTs were conceptualised to serve as a one-stop shop for cargo consolidation, stuffing, documentation, packaging, certification and onward shipment through electronic call-up to the ports in a quick turnaround time, thus eliminating the duplications and bureaucratic overlaps that previously rendered Nigerian exports uncompetitive in the international marketplace.

He said to facilitate the port-hinterland connectivity and create pathways for Small and Medium Scale Enterprises (SMEs) to participate in the export value chain, the EPTs have been structured to have a seamless handshake with the Domestic Export Warehouses (DEWs) in synergy with the Nigerian Exports Promotion Council (NEPC), as well as the Inland Dry Ports.

‘To align with the economic stabilization resolve of the Federal Government and the theme of the year’s fair ‘Sustainability: Consumption, Incentives and Taxation’ we are unifying our various operational channels into a singular transaction gateway known as the Ports Community System (PCS) which lays the groundwork for the implementation of the National Single Window (NSW) which sustainably eliminates all forms of opacity and attendant delays associated with undue human interference,’ he stated.

Dantsoho further explained that the NSW is the global best practice for delivering the greatest value with the greatest ease by connecting all stakeholders in the trade value chain for seamless interaction at the push of a button, saying NPA has put measures in place to link value creators in the remotest part of the hinterland with the farthest clusters of demand anywhere on the globe.

He assured every stakeholder that the doors of NPA are always open for partnerships even beyond the trade fair, urging them to visit the NPA’s fully interactive online, real-time website www.nigerianports.gov.ng to access our growth offerings.

7 symbols of Nigerian independence you probably didn’t know

As Nigerians mark October 1 Independence Day, many instantly think of the green-white-green flag and parades. But the independence moment produced a number of smaller, often-overlooked objects, places and cultural markers that helped shape how the new nation presented itself and how Nigerians remember 1960.

In this article,Tribune Online highlights seven lesser-known symbols tied to Nigeria’s independence and what they mean today.

1. The original flag sketch that included a red sun

The flag we know was not the first version chosen on paper. Designer Michael Taiwo Akinkunmi’s winning entry originally had a 16-ray red quarter-sun on the white stripe; the independence committee removed the sun before official adoption. Akinkunmi’s simple green-white-green won from thousands of entries.

2. The Nigerian Independence Medal

Instituted for military, police and selected British personnel serving at independence, the circular cupro-nickel independence medal carries the crowned effigy of Queen Elizabeth II on its obverse and the Nigerian coat of arms with the inscription ‘Nigeria Independence, 1st October 1960’ on the reverse. Its ribbon mirrors the national colors.

3. The 1960 ‘Independence Commemoration’ postage stamps

Postage stamps printed for the independence celebrations small collectibles today featured local sites and commemorative designs that circulated nationwide and abroad. They were part of the visual campaign that announced Nigeria’s new identity to the postal world.

4. The Coat of Arms’ hidden floral touch: Costus spectabilis

Nigeria’s coat of arms (formally adopted in 1960) is packed with symbolism: the black shield, the white wavy ‘Y’ for the Niger and Benue rivers, the eagle and horses and at the base, the yellow Costus spectabilis, Nigeria’s national flower, which many people don’t recognize by name.

5. The original national anthem

‘Nigeria, We Hail Thee’ was the anthem at independence (lyrics by Lillian Jean Williams) before being replaced in 1978. In May 2024 the government moved to readopt the independence anthem – a reminder that symbols chosen in 1960 still spark debate about history and identity.

6. The Race Course the place the Union Jack came down

The Union Jack was lowered and the new Nigerian flag hoisted at the Lagos Race Course in the hours around midnight on October 1, 1960 the physical site of the transfer of symbols and sovereignty. The ground would later be redeveloped and is remembered today as Tafawa Balewa Square.

7. The Constitutional Instruments presented by Princess Alexandra

At the ceremony, a representative of the Crown Princess Alexandra of Kent formally presented the constitutional instruments of independence (the legal parchment and formal transfer documents). Those ceremonial papers were the literal legal symbols of Nigeria’s new status.

Symbols aren’t only decorative. They package values, legitimize power and anchor public memory. Some like the flag or anthem are visible to everyone; others, like the medals, stamps, buildings and even a particular state-ball playlist, quietly shaped how independence felt and was broadcast to Nigerians and the world. Revisiting them sharpens how we tell the story of 1960 beyond the headline moments.

Can you choose your baby’s gender with IVF? Here are the facts

Recent advances in In Vitro Fertilization (IVF) now make it possible for couples to select the sex of their baby before pregnancy. While the procedure is medically reliable, it comes with financial, ethical, and legal considerations.

In this article, Tribune Online examines key facts you should know:

1. The process is nearly 100% accurate

Through Preimplantation Genetic Testing (PGT), embryos are tested after about five days of development. Doctors can then determine sex chromosomes (XX for female, XY for male) before implantation.

2. First designed for medical reasons

Sex selection began as a way to prevent passing on sex-linked disorders, such as hemophilia and Duchenne muscular dystrophy.

3. Parents also choose for personal reasons

Some couples opt for gender selection for ‘family balancing’ or when they only want one child of a specific sex.

4. The cost is significant

According to Nevada Fertility Center, choosing an embryo’s sex adds $1,000 to $4,000 to the cost of IVF, which is already expensive.

5. Ethical debates remain strong

The American Society for Reproductive Medicine (ASRM) has urged caution, noting that non-medical gender selection raises concerns about bias and the commercialization of reproduction.

6. Not all countries allow it

While the United States permits elective sex selection, many countries ban it unless it is for medical reasons. Policies also vary between clinics.

7. More male embryos are chosen

Reports show that IVF transfers often result in more male embryos than female, with ratios as high as 164 males for every 100 females.

World Contraceptive Day: Oyo govt, SFH urge mothers to make family planning a norm

THE Oyo State government, in partnership with the Society for Family Health, the Planned Parenthood Federation, and other organizations, has urged women to make family planning a norm, emphasizing that contraception provides families with the freedom to plan, the power to choose, and options for all.

During a speech at the 2025 World Contraception Day in Ibadan, organized by the Oyo State Primary Healthcare Board, the Society for Family Health, the Planned Parenthood Federation of Nigeria, and other partners, Mrs. Folashade Olatunde, the State Family Planning Coordinator from the Oyo State Primary Healthcare Board, emphasized that women should space their children for the benefit of both their own health and that of their children.

‘We are not advising them against having more children in the future. We want there to be a gap between each child to improve the woman’s health. Additionally, the health of the children will also benefit. We don’t want them to give birth every year, she stated.

According to her, family planning services are free and serve as a means to reduce maternal mortality rates.

Mercy Okeyode, State Programme Officer for the DISC 2.0 project in Oyo State at the Society for Family Health, explained that the celebration aimed to ensure women have access to all family planning options, enabling them to make informed decisions for their lives and families, prevent high-risk pregnancies, and reduce maternal mortality.

She declared, ‘The goal is to reduce the rate of abortions and unplanned pregnancies in the states. Contraception offers multiple benefits at various levels-for the individual, the family unit, and the nation as a whole.

‘We want to increase awareness and visibility of family planning throughout the state. Representatives from all 11 LGAs in Ibadan Metropolis are present at the celebration. We hope they will take these messages back to their respective local governments, intensify efforts to raise awareness, empower women to take charge of their health, and encourage men to support their wives in making informed choices for their families.’

In a statement, Mrs. Ajibola Adesope, the PPFN state clinic officer, reassured the public that family planning is about helping people decide when and how to have children, not about preventing them from having children.

‘Many people, due to the misconception that family planning is intended only for married couples, begin to restrict young people’s access to family planning services.

Unless you want to shy away from it, many unmarried couples also have unprotected sex. They, too, need protection from unintended pregnancy,’ Mrs. Adesope added.

Dr. Aderonke Atoyebi, the Medical Officer of Health for Ibadan Northwest Local Government in Onirike, told women during her health talks that a woman can recover from the stress of pregnancy and childbirth before choosing to become pregnant again if she allows sufficient time between pregnancies.

She urged increased support from husbands to enable women to space their children, enhanced training for healthcare workers on family planning, and greater government investment in health education for both women and men.

Dr. Atoyebi stated that health education is essential for dispelling myths and misconceptions about family planning, which will increase the utilization of family planning services.

A rally to raise awareness about the benefits of family planning and the availability of free family planning services was held as part of the 2025 World Contraception Day celebrations in marketplaces and communities.

Flood alert: NSEMA urges Niger riverine communities to relocate

The Nigerian Hydrological Services has advised Niger riverine communities the River Niger and Kaduna to relocate.

This was contained in a press statement issued by the Director General of the Niger State Emergency Management Agency (NSEMA), Alhaji Abdullahi Baba Arah and made available to journalists in Minna on Thursday.

The statement added that the Agency’s warning is coming as a result of the discharge of water from Kainji, Shiroro, Zungeru and Jeba hydro dams located in Niger state.

The NSEMA boss said, ‘The dams are releasing thousands of gallons of water per minute that could lead to the overflow of these rivers.

‘The state government hereby advise our communities to limit activities around River banks during this peak rainy season to avoid being flooded.

‘People living in riverine areas should relocate to safer grounds already identified. NiMeT’s latest prediction indicated that the end of the rainy season will be accompanied by a violent windstorm; as such, people should avoid standing under trees during rainfall and also avoid substandard structures.

‘The state is already experiencing the negative impact of the flooding with houses, farm lands, bridges, and linked roads washed away in some LGAs located upstream and downstream of the 4 dams, rendering many homeless and affecting the socio-economic activities of the communities.

‘The affected LGAs include Lavun, Magama, Rafi, Kontagora, Gbako, Mokwa, Lapai, Katcha, Agaie, Suleja, Shiroro, Mashegu, Agwara, Bida, Edati, Munya, Bosso, Chanchaga, Paikoro and Wushishi.

‘Loss of lives has also been recorded, stressing that the assessments of the flood impacts are still ongoing and periodic updates will be provided.

‘NSEMA, hereby, calls on all the stakeholders, the traditional institutions, well-meaning Nigerlites and the media to help in propagating this information to the general public.’

2027: INEC seeks speedy consideration of electoral act review

The Independent National Electoral Commission (INEC) has again restated its concern over the delay in the National Assembly’s review of the existing Electoral Act.

Chairman of the Commission, Professor Mahmood Yakubu, expressed the electoral umpire’s apprehension on Thursday when he received the Head of the European Union Follow-up Mission, led by Mr. Barry Andrews.

Professor Yakubu maintained that uncertainty over the legal framework for next general elections is a big encumbrance for INEC.

He also told the EU team that some of its recommendations towards improvement on the electoral process in the country rest heavily on legislative intervention by the National Assembly.

He said: ‘As you are aware, an election is a process governed by law. Many of your recommendations require the review of our electoral laws. For this reason, the Commission had interfaced with our National Assembly, including a retreat with the Joint Committee on Electoral Matters (Senate and House of Representatives).

‘We appeal to the National Assembly for an expeditious consideration of the electoral reform proposal. An early passage of law is critical to our planning for the elections. Uncertainty over the legal framework for the election can unsettle the work of the Commission as election draws nearer.’

The INEC Chairman, who commended the EU for its engagement with his Commission aimed at promoting the integrity of the electoral process, declared that his Commission would be willing to sustain the collaboration.

‘We look forward to the next EU EOM for the 2027 General Election. As you are aware, International Election Observation Missions are deployed on the invitation of the Commission. I want to reassure you that we will continue to engage with you.

‘Very soon, the Commission will send out invitations to the EU as well as the Commonwealth, the African Union, and ECOWAS for the 2027 General Election. We believe that the recommendations arising from your observation of our election and electoral process help to improve the quality of our elections and electoral activities.’

In his remarks, the Chief Observer of the European Union Election Observation Mission, Barry Andrews, who incidentally is a member of the European Parliament, said the focus of his team is to verify the response to the recommendations of the EU team that monitored the last general elections.

Andrews, who revealed that his team has been around in the last three weeks, applauded INEC’s genuine commitment to recommendations that would add value to the electoral process in Nigeria.

He said: ‘What we are here to do is to look at the recommendations that flowed from the overall mission, which were contained in the final report of the mission back in 2023, and we are very happy to see that there has been very significant progress against these recommendations. We recognise that there are certain time constraints, both in terms of judicial reform as well as administrative reform and, of course, constitutional reform.

‘INEC has obviously carried out its own review of the 2023 elections, and we’ll be looking forward to hearing what you have to report on the recommendations and the follow-up and implementation of those recommendations since 2023.

‘There are specific areas that require legislative action that I’ve referred to in my opening comments, and we would be delighted as a team to hear from you about what progress has been made and what concerns you have about obstacles in the future, and particularly around constitutional change, which is obviously a little bit more difficult.’

Other members of the visiting delegation were Mr. Gautier Mignot, EU Ambassador to Nigeria and ECOWAS; Mr. Ralph-Michael Peters, Election Expert and Team Lead; Ms. Eirini-Maria Gounari, Election Legal Expert.

Others were Mr. Maros Gabriel, Election Administration Expert, and Ms. Laolu Olawumi, Programme Manager, Democracy and Rule of Law, EU Delegation.

Independence Day reflection: Keem Abdul revisits Buhari’s presidency in Scorched Earth

As Nigeria commemorates 65 years of independence, Keem Abdul’s Scorched Earth: Anatomy of the Buhari Years (2015-2023) offers a timely reflection on the life and presidency of Muhammadu Buhari, the former Head of State and President who left an enduring mark on the nation’s political history. The book examines Buhari’s journey from military ruler to elected leader, and the challenges he faced in office. It traces how his reputation for integrity shaped his political rise, and how his presidency navigated issues of governance, security, the economy, and national unity.

Abdul writes: ‘The story of Buhari is the story of a man who became the symbol of integrity in Nigeria, but whose government eventually became a byword for competence tested by enormous national challenges.’ (p. 9)

He later adds: ‘The Buhari years will be remembered not only for the change they promised, but for the lessons they leave behind for a country still seeking its democratic balance.’ (p. 313)

Through chapters such as ‘Baba Go-Slow,’ ‘A Giant with Feet of Clay,’ and ‘The Winter of Our Discontent,’ Abdul offers a thoughtful account of Buhari’s leadership. The book reflects on both his enduring reputation for honesty and the difficulties of governing a complex nation, presenting his presidency as part of the larger story of Nigeria’s democratic journey.

Keem Abdul, the author, is a Nigerian writer who focuses on politics, governance, and society. His work aims to encourage readers to reflect, not only on leaders themselves, but on the institutions and citizens that shape Nigeria’s path.

Scorched Earth is available on Mainstack and Selar.

Global economy losing over $4.7trn to corruption annually – Expert

The Convener, ISO/TC309/WG8 and the Chairman, SON NTC Governance of Organization, Prof. Oserheimen A. Osunbor on Tuesday stated that the world economy loses over $4.7 trillion to fraud yearly.

Speaking in Abuja at the launch of ISO 370032:2025, Osunbor said the formation for the new standard started on the sidelines of ISO TC 309 plenary in Sydney, Australia in November 2018 .

‘There was need to develop a standard to address fraud in organizations that would align with the strategic business plan of TC 309 following our presentation to plenary, an ad hoc group was by resolution constituted to ascertain the desirability of an ISO deliverable on fraud controls.

‘A global survey was designed and administered by the ad hoc group, and we received responses from a wide range of organizations, small, medium and large, covering commercial, government and non governmental organizations from diverse sectors.

‘The responses established key facts, namely; One, there was awareness of fraud risks in organizations. Two, there were existing fraud controls within the organizations, including internal fraud whistleblowing code of conduct, anti fraud policies as well as fraud training and management reviews to mitigate the impact of fraud.

‘Another element was that, despite the existence of these internal mechanisms and statutory regulations, there was a clear need for an ISO standard dealing with fraud control’.

He explained that’research findings from the literature published by reputable sources show that fraud costs the global economy about $4 trillion per year. In fact, the Chief Executive of the Chartered Institute of Thoracic Examiners put it at $4.7 trillion, so it’ is increasing.’

He noted that total loss amount to 7% of the annual turnovers of organizations based on the findings. ‘The leadership of TC 309 in 2022 approved the proposal and established Working Group to develop a fraud control management system standard after going through all the different stages of development, from working draft to committee, draft international standard to final draft international standard.

‘The document was published as an international standard on 29th May of this year. It has been adopted by SON as a National Industrial Standard in accordance with the Standards Organization of Nigeria act.

‘We are gathered here today to witness the formal presentation and launch of the standard ISO 37,003 is a response to global concern about the damaging effects of fraud.

Osunbor said the standard provides guidance for organizations for the development, implementation and maintenance of an effective fraud control management system, including fraud prevention, early detection of fraud and effective response to fraud events that have occurred or may occur in future.

‘By adopting and implementing ISO 37,003. along with the other TC 309 family of standards, ISO member countries and their organizations will boost their global competitiveness by sending a clear signal that they uphold the highest standard of governance and that it is safe to do business’ he reaffirmed.

Also speaking at the event, Sorrel Evans of the Justice and Home Affairs Affairs with the British High Commission in Abuja reiterated that ‘on behalf of the United Kingdom, I am honoured to stand here today alongside our Nigerian partners, united in a shared mission: to protect our economies and our citizens from the growing threat of fraud.

‘Fraud is not just a financial issue, it affects livelihoods, undermines trust, and in the most heartbreaking cases, it costs lives.

‘The scale of the problem is staggering:, there are an estimated 76 million victims of fraud each year’ she stated.

Evans noted that globally, scammers siphoned off an estimated $47 trillion in just 12 months. ‘A figure that exceeds the GDP of many nations.

‘In the UK alone, 10 million people have been affected, costing our 11 economy and individuals £15 billion over the past three years.

‘Financial institutions in Nigeria lost N52.26 billion to fraud in 2024 according to the latest report by the Nigeria Inter-Bank Settlement System (NIBSS).

‘But even more worryingly – these trends are growing across the nation, the continent, and the world. This represents a significant increase of 295% compared to the N17.67 billion recorded in 2023′ she explained.

Sorrel Evans said in parts of Africa according to INTERPOL, scam notifications rose by 3,000% last year’, commending SON for adopting standard for fraud control.

‘I want to thank the Standards Organisation of Nigeria (SON), the British Standards Institution (BSI), and all stakeholders who contributed to this effort. ISO, one of the world’s longest-standing international organisations, continues to demonstrate its central role in shaping a safer, more secure global economy.

‘Over the next few days, you will hear from experts and peers about the many ways fraud impacts business viability and profitability. But I encourage you to also look around this room-for opportunities to connect, collaborate, and lead the next wave of change in this industry.

‘Nigeria’s publication of these standards is more than a technical achievement. It is a statement of leadership, engagement, and ambition to be a global pioneer in fraud prevention’ she stated.