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Nigeria is seeing an increasing cases of cardiovascular diseases (CVDs), with a treatment cost that is deepening household poverty, health experts and multiple studies show.

As Nigerians join the rest of the world to mark World Heart Day today, experts warn that CVDs are becoming a major casue of mortality and also impoverishing households. They stress that poor awareness of risk factors, a shortage of specialists, and the country’s weak health insurance coverage are compounding the crisis, leaving millions of citizens to pay out-of-pocket for expensive treatments.

Also, several studies reviewed by BusinessDay found that the cost of care doubles the poverty headcount among households.

Akin Osibogun, chairman of the Nigeria Heart Foundation, noted that the prevalence of CVDs had risen from 10% in 1990 to 28% today, and globally, about 20 million people die annually from CVDs.

Osibogun decried Nigeria’s low health insurance coverage, stressing that the cost of care remains unaffordable for many. According to the National Health Insurance Authority (NHIA), barely 10% of Nigeria’s estimated 220 million people are insured, while the rest are forced to pay out-of-pocket.

A study published in the Public Library of Science in 2021, based on a survey of patients who accessed healthcare in public and specialised heart hospitals, revealed that patients paying out-of-pocket faces catastrophic health expenditure (CHE).

The study found that 54.6% of CVD patient households incurred CHE, with the poorest households facing a 60-fold higher chance of incurring CHE relative to wealthier households.

The study also concluded that health expenditures doubled household poverty headcount, from 8.13% to 16.4%.

Private hospitals also report prohibitive costs. Lagoon Hospitals noted that cardiology care in Nigeria remains out of reach for most families. At Lagos State University Teaching Hospital (LASUTH), a valve replacement procedure costs about ?3.2 million, while a hole-in-the-heart surgery ranges between ?2.5 million and ?2.7 million. With average monthly incomes ranging between ?85,700 and ?1.5 million and with 63 per cent of Nigerians living below the poverty line, experts say life-saving procedures are priced as luxuries for the majority.

It found that heart failure, cardiomyopathies, rheumatic heart disease, and coronary artery disease-are increasingly prevalent in Nigeria, adding that Hypertension remains the leading risk factor, yet one-third of hypertensive Nigerians receive no treatment, while another third fail to maintain controlled blood pressure.

On addressing treatment cost, Osibogun, emphasised the need to strengthen local manufacturing to reduce the cost of healthcare and make treatments more accessible to Nigerians.

The expert expressed concerns that ‘Ignorance is the greatest challenge,’ in addressing CVDs as many Nigerians are no aware of risk factor such as excessive salt intake.

He also warned that air pollution is an emerging driver of heart disease. ‘Due to air pollution, the concentration of oxygen is reduced by pollutants, so the heart has to work harder, almost in overdrive,’ Osibogun said.

He also urged citizens to adopt healthier lifestyles, highlighting the benefits of eating well and engaging in regular physical activity. ‘We need to move more,’ he said, stressing that exercise is a key preventive measure against cardiovascular diseases.

He recommended that primary healthcare centres (PHCs) provide cardiovascular healthcare services, as they are the closest point of care for most Nigerians.

Furthermore on prevalence, a 2022 study published in the National Library of Science found that CVD-related admissions are rising in Nigeria and across Africa. Conducted in a Lagos tertiary hospital, the study reviewed CVD admissions over a 16-year period and revealed exponential increases.

Between 2002 and 2005, cumulative CVD admissions stood at 468. By 2009, the figure had risen to 1,490, a 201.1% increase. By 2013, it had climbed to 2,883 – representing a 516% increase. By 2017, total admissions stood at 4,436, an 847.9% increase from the 2002 baseline. The study noted that both admissions and death rates were rising sharply, reflecting Nigeria’s ongoing epidemiological transition.

A 2024 study, ‘The Burden of Cardiovascular Disease Attributable to Hypertension in Nigeria: A Modelling Study Using Summary-Level Data’, published in Global Heart, confirmed hypertension as the primary driver of CVDs. The findings showed hypertension contributes to 13.2% of myocardial infarctions, 24.6 percent of all stroke cases, and 21.6 percent of ischaemic stroke cases. Its role is even greater in intracerebral haemorrhagic strokes, accounting for 33.1 percent.

Kayode Egbetokun, Inspector-General of Police (IGP), on Monday urged newly called-to-Bar police officers to uphold integrity, professionalism, and discipline as they assume dual responsibilities as law enforcement officers and legal practitioners.

Addressing the officers at the Force Headquarters in Abuja, the IGP described their success as a milestone achievement that would add strategic value to the Nigeria Police Force (NPF) and strengthen the country’s justice system.

‘It gives me great pride to welcome you. Today, we are not only recognizing personal success; we are celebrating an achievement that strengthens the Nigeria Police Force and adds value to our country,’ he said.

He also congratulated the officers on their successful completion of the Nigerian Law School programme, noting with pride that one of them graduated with First Class Honours, which he described as a rare and outstanding feat that has brought honour to the Force.

The Police Chief emphasized that law enforcement cannot be effective without a strong legal foundation.

He stressed that the officers’ legal training positioned them to serve as defenders of the law in the field and as custodians of justice in the courtroom.

According to him, every action taken by the Police must be grounded in law, every power exercised must be backed by law, and every responsibility borne must be judged by law.

Egbetokun highlighted that their entry into the profession coincided with the recent elevation of the Police Legal Section to the Force Directorate of Legal Services, now headed by an Assistant Inspector-General of Police.

He explained that the upgrade was not symbolic but strategic, designed to provide sharper legal direction, ensure watertight prosecutions, safeguard the institution against legal vulnerabilities, and influence policy at the highest levels.

He told the officers that they were joining the Directorate at a defining moment and that its success would depend heavily on their contributions.

He further stressed that the Police did not need lawyers in uniform for decoration, but officers who would add tangible value to the institution.

He urged them to ensure that prosecutions are handled professionally, conduct themselves with integrity that is above reproach, and provide legal opinions that commanders can rely on with confidence.

He also encouraged them to help align the Force with constitutional standards, human rights obligations, and international best practices, while serving as role models to other officers who aspire to combine policing with legal practice.

The IGP reminded the officers that their call to the Bar had doubled their responsibilities, making them accountable to the Force, the legal profession, and the Nigerian people.

He cautioned them against misusing their legal knowledge for personal advantage, urging them instead to channel it into service that would strengthen the Directorate and uplift the Police Force.

‘Excellence will be recognized and rewarded. Mediocrity will not be tolerated,’ he said.

He added that the combination of their uniform and the lawyer’s gown placed them in a demanding yet privileged position, requiring humility, discipline, and loyalty to the Force.

Egbetokun charged the officers to justify the investment the Police had made in their legal education, insisting that their performance would not only shape their careers but also determine the credibility of the Nigeria Police as a professional law enforcement institution.

He declared that the achievement was not merely about the gown they would wear in court, but about the standards they would set while in uniform.

‘The Police at this time, more than ever before, need lawyers who will make the law work for justice, for discipline, and for Nigeria,’ he said.

The Central Bank of Nigeria (CBN) will inaugurate the Governor’s Annual Lecture Series on Friday, October 3, 2025, at the Honeywell Auditorium, Lagos Business School, Pan-Atlantic University.

Themed ‘Next Generation Leadership in Monetary Policy and Nation Building,’ the lecture marks the launch of a flagship platform under the CBN Governor’s Knowledge Acceleration and Thought Leadership Initiative. The series is designed to strengthen dialogue between the Bank and thought leaders across academia, business, policy, and civil society.

This inaugural edition coincides with the second anniversary of Team Cardoso’s leadership at the CBN, a milestone reflecting reforms that have stabilised the naira, improved key economic indicators, and restored international investor confidence in Nigeria’s economy.

The platform will convene policymakers, industry leaders, academics, and students from leading tertiary institutions, highlighting the central role of monetary policy in driving stability, growth, and nation-building.

The choice of Lagos Business School as the inaugural host reflects its reputation as a hub for leadership and policy innovation, offering an environment that bridges theory and practice and encourages rigorous debate.

Through this initiative, the CBN underscores its commitment not only to safeguarding Nigeria’s macroeconomic stability but also to investing in the next generation of leaders who will sustain and build on today’s progress.

In northern Nigeria, the hum of diesel generators that long defined everyday life at Katsina General Hospital has begun to fade. In its place, a quiet transformation is underway. A newly commissioned 250-kilowatt solar system with a 300-kilowatt-hour battery capacity now powers wards and operating rooms, reducing reliance on costly, polluting fuels while ensuring uninterrupted electricity for critical care.

The shift is emblematic of a broader trend sweeping across Africa: clean energy projects that are less flashy than billion-dollar mega dams or grand national grids, but far more immediate in their impact. At the centre of this movement stands Genesis Energy Group, a Lagos-based developer that is reimagining how power is delivered to the continent’s most underserved communities.

Founded in 2005, Genesis has spent two decades quietly building one of Africa’s most diverse portfolios of clean energy projects.

Its guiding mantra, ‘lighting up Africa one community at a time’, is proving more than just corporate rhetoric.

By working directly with state governments, hospitals, schools, and local industries, the company is making the case that access to affordable, reliable power is as much about health, education, and economic resilience as it is about kilowatt hours.

A growing crisis in energy access

Despite abundant natural resources, Africa’s power challenge remains stark. According to the International Energy Agency (IEA), over 600 million people on the continent live without access to electricity, and nearly 1 billion still cook with traditional fuels like wood, charcoal, or coal. The consequences are profound: respiratory illnesses from indoor air pollution, millions of hours lost each year to fuel collection, and stagnant productivity in communities cut off from reliable power.

Nowhere are these challenges more acute than in Nigeria, Africa’s largest economy. The World Bank estimates that only 55% of Nigerians have access to electricity. Rural electrification rates are even bleaker, dropping to just 24%, compared to more than 80% in urban areas. Kerosene lamps, diesel generators, and firewood remain the default solutions, entrenching a cycle of high costs, pollution, and inequality.

The urgency is underscored by the United Nations Sustainable Development Goal 7 (SDG 7): ensuring universal access to affordable, reliable, and sustainable energy by 2030. Meeting that target requires bold action across the board-government reforms, international financing, and private-sector innovation. Increasingly, it is companies like Genesis Energy that are showing what that future can look like on the ground.

Genesis Energy’s state-level bet

In early 2025, Genesis signed a $500 million Memorandum of Understanding with the Katsina State Government to roll out decentralised clean energy infrastructure across the northern state. The initiative targets hospitals, schools, and government facilities as a first step in building what executives describe as ‘replicable models’ for state-led electrification.

The first phase includes a 1,000-kilowatt solar system with matching battery storage at the Katsina Government House and smaller installations at public health facilities, including Katsina General Hospital. Together, these projects form part of a broader 10-megawatt pipeline that Genesis aims to complete in the state.

‘This is not about building a single showcase project,’ said one Genesis executive familiar with the plans. ‘It’s about demonstrating that decentralised, clean power can be deployed quickly, affordably, and in ways that directly improve lives. Once proven, the model can be replicated across Nigeria’s 36 states.’

The strategy reflects a broader shift in Africa’s energy landscape: away from a singular focus on national grids, and toward distributed systems that can bypass the chronic bottlenecks of state utilities.

Financing the transition

Genesis is no stranger to the complexities of financing clean energy in emerging markets. In 2019, it issued West Africa’s largest clean energy bond at the time, worth $36.1 million, unconditionally guaranteed by InfraCredit and the U.S. International Development Finance Corporation (DFC). The raise gave the company both credibility and flexibility to scale projects across the region.

Since then, Genesis has invested over $150 million into clean energy ventures, from solar and battery storage to gas-to-power facilities. Among its more notable undertakings is an 84-megawatt private off-grid gas-to-power plant that supplies electricity to critical national infrastructure in Nigeria, reducing reliance on diesel and heavy fuel oil.

With a development pipeline of 4.5 gigawatts and nearly 458 megawatts already in operation or under construction, Genesis has positioned itself as a key intermediary between global financiers and Africa’s fragmented energy markets. Its access to equity risk capital and large-scale funding sets it apart from smaller players often constrained by capital scarcity.

A portfolio beyond solar

While solar remains central to Genesis’s identity, the company has deliberately built a multi-technology portfolio. Its projects leverage solar photovoltaics, battery energy storage systems (BESS), hydro, wind, and hybrid gas-to-power systems, depending on the specific needs of communities and industries.

One flagship example is the Banana Island Local Grid in Lagos, a distributed energy system serving more than 2,000 residents with up to 98% power availability. By replacing noisy diesel generators with a hybrid clean energy solution, Genesis has not only improved quality of life but also demonstrated the commercial viability of decentralised urban grids.

This flexibility is key in markets where one-size-fits-all solutions rarely succeed. ‘Africa’s energy future will not be defined by a single technology,’ Genesis executives argue. ‘It will be a mosaic of solutions tailored to local contexts.’

From clinics to classrooms

The social ripple effects of these projects are hard to overstate. With reliable power, clinics can refrigerate vaccines, students can study after dark, and farmers can store perishable produce in solar-powered cold rooms.

The World Health Organisation estimates that nearly 60 percent of health facilities in sub-Saharan Africa lack reliable electricity. Genesis’s installations at hospitals like Katsina General represent a step toward closing that gap, enabling better maternal care, emergency surgery, and disease response.

Similarly, electrification projects in schools and community centers extend opportunities for education and digital inclusion, while small businesses benefit from lower energy costs and improved productivity.

A voice in global forums

Genesis’s influence extends beyond project sites. At forums such as the Africa Energy Forum 2025 and the Youth Energy Forum 2025, the company has emerged as a leading voice on Africa’s clean energy transition.

At the Africa Energy Forum, Genesis executives participated in a panel on ‘Financing Gas: Is 2025 the Year Financing Is Unleashed?’-arguing that transitional fuels like natural gas remain critical for Africa’s near-term stability, even as renewables scale.

At the Youth Energy Forum, the company emphasised workforce development, offering guidance to students and young professionals seeking careers in clean energy. It also showcased how it tracks CO2 displacement across its solar and hybrid projects, underscoring a commitment to measurable impact.

This dual role-as both project developer and policy advocate-has helped Genesis influence the broader narrative around Africa’s decarbonization, balancing pragmatism with ambition.

Balancing legacy fuels with renewables

The tension between Africa’s fossil fuel wealth and the urgency of decarbonization looms large over every clean energy conversation. Nigeria, for example, is among the world’s top oil producers, and natural gas accounts for a significant share of its domestic energy use.

Genesis has sought to bridge that divide by positioning gas-to-power as a transitional tool. While critics argue that gas risks locking Africa into carbon-intensive pathways, Genesis insists that hybrid solutions are essential for maintaining reliability in regions where renewable intermittency remains a barrier.

‘We cannot leapfrog into a 100% renewable future overnight,’ a company spokesperson noted at a recent panel. ‘But we can chart a path that reduces emissions, displaces diesel, and builds the infrastructure for a sustainable energy mix.’

Measuring Impact

For Genesis, impact is measured not just in megawatts, but in lives improved. The company tracks outcomes such as reduced diesel consumption, CO2 displacement, and cost savings for clients. It also emphasises community engagement, working with local governments and residents to ensure projects are aligned with social and economic priorities.

This emphasis reflects a broader shift in how investors and policymakers assess energy projects. Beyond financial returns, stakeholders increasingly demand evidence of social dividends-health, education, and gender equity among them. Genesis’s model, by targeting schools, hospitals, and underserved communities, is designed to deliver on that mandate.

Next steps

With less than five years until the 2030 SDG 7 deadline, the scale of Africa’s energy challenge remains daunting. Achieving universal access will require not just billions in new investment but also regulatory reforms, cross-border cooperation, and a willingness to embrace decentralised solutions.

Genesis Energy is betting that its state-level partnerships, diversified portfolio, and proven financing record will allow it to scale faster than many peers. The Katsina initiative, if successful, could serve as a template for other Nigerian states-and potentially across Africa.

For now, the quiet hum of solar panels and battery systems in Katsina may seem like a small step. But for patients at the hospital who no longer face blackouts during surgery, or students who can now study after sunset, the change is nothing short of transformative.

And for Genesis Energy, it is proof that a clean power boom doesn’t always arrive with fanfare. Sometimes, it begins with the lights staying on.

Nigeria is rewriting its governance story through the steady leadership of three women whose work is moving the country from promise to proof. In parliament, Hon. Kafilat Ogbara is turning representation into results. She treats consultation as a discipline, keeps citizens in the room, and converts their priorities into credible parliamentary asks. Her hearings are purposeful, her follow-up is visible, and her message is clear: legitimacy grows when people are heard and policy is grounded in evidence. In an era of flood risks, cost-of-living pressures, and rapid urbanisation, that kind of citizen-centred law-making helps lower tensions, align MDAs around shared outcomes, and accelerate delivery where it matters.

On the nation’s highest bench, Hon. Justice Uwani Musa Abba-Aji, JSC anchors confidence in the rule of law. Predictable jurisprudence is not a luxury, it is the bedrock of investment, innovation, and social protection. Her careful reasoning signals that rights are real, contracts have consequences, and the vulnerable are not invisible. In a time of digital disruption, climate shocks, and intense political competition, her work shows how an independent, development-minded judiciary safeguards both liberty and growth. Justice becomes infrastructure, and infrastructure invites enterprise.

Within the executive, Fatima Ango offers a masterclass in execution. Recently elevated to Deputy Director at the Central Bank of Nigeria, she has championed learning systems, competency frameworks, and monitoring and evaluation that link training to performance and policy to service quality. Capability is her strategy. By hard-wiring standards, skills, and feedback loops into daily work, she helps institutions move faster, learn quicker, and serve better. That is how service delivery becomes consistent, and how confidence in government compounds.

Together they form a clean arc of national renewal. Parliament gives inclusive voice. The courts provide steady verdicts. The executive delivers value at scale. This is the alignment Nigeria needs to tackle today’s biggest tests: resilience in the face of climate risks, productivity in a tightening global economy, probity in public finance, and inclusion that leaves no community behind. It is also why their leadership is newsworthy. At a moment when citizens demand performance as well as vision, these three women show that excellence is attainable, measurable, and repeatable.

Celebrate them, because they are modelling how Nigeria wins: empathy with standards, vision with systems, ambition with accountability. Their example is not just inspiring. It is a practical blueprint for good governance, nation-building, and inclusive, sustainable development that reaches every ward and every household.

Nigeria’s healthcare system is facing a growing shortage of orthodontic specialists, leaving many patients without access to timely and affordable care. The concern was brought to the fore as the newly elected President of the Nigerian Association of Orthodontists (NAO), Idia Ize-Iyamu, pledged to confront the challenge head-on during her tenure.

Orthodontics, a branch of dentistry that deals with correcting irregularities of the teeth and jaws, has become an area of rising demand in the country. However, the number of trained orthodontists remains alarmingly low compared to Nigeria’s vast population of more than 200 million people. Experts say this shortage has created long waiting periods, high treatment costs, and a widening gap in access between urban and rural communities.

Ize-Iyamu, a professor of orthodontics and former dean at the University of Benin’s Faculty of Dentistry, said her administration will prioritise the training of more specialists. She stressed that access to quality orthodontic care should not be limited to the elite few who can afford treatment abroad or at expensive private clinics.

‘We cannot continue to run a system where less than 200 orthodontists are expected to serve millions of people across the country. This imbalance leaves many Nigerians untreated, especially children, whose conditions worsen with age,’ she said while addressing members of the association.

The shortage has far-reaching consequences. Malocclusion (poor alignment of teeth) is not merely a cosmetic issue, experts argue, but one that can affect speech, chewing, oral hygiene, and even self-esteem. In many cases, untreated dental problems in children lead to lifelong complications. Yet, with few orthodontists spread across major cities like Lagos, Abuja, and Port Harcourt, patients in smaller towns and rural communities often have no access at all.

The association says part of the problem lies in limited training opportunities. Orthodontics requires years of specialised postgraduate training, but Nigeria has only a handful of accredited programs. Even then, these programs admit a small number of candidates each year due to resource constraints.

According to the NAO, collaboration with government and universities is crucial to expand training capacity. Prof. Ize-Iyamu has also called on policymakers to invest in dental health infrastructure, provide incentives for young dentists to specialise in orthodontics, and create opportunities for continuous professional development.

Stakeholders note that brain drain is another serious challenge. Many young Nigerian dentists who receive specialised training abroad often remain overseas, where working conditions, pay, and research opportunities are more attractive. This exodus further depletes the pool of local specialists, compounding the crisis.

The situation has also fueled inequality in healthcare. Orthodontic treatment in private clinics can cost anywhere from ?500,000 to ?3 million depending on the severity of the case, a price far beyond the reach of average Nigerians. Without a strong public healthcare system to subsidise treatment, orthodontic care is becoming a privilege for the wealthy.

Parents like Mrs. Chinyere Nwosu in Enugu express frustration over the lack of affordable care. ‘My daughter has badly misaligned teeth. We were told she needs braces, but the cheapest we found was over ?700,000. It’s heartbreaking because we know it will affect her confidence, but we cannot afford it,’ she lamented.

Health experts argue that awareness is also a major barrier. Many Nigerians only seek orthodontic treatment when conditions become severe, often due to ignorance about early intervention. The NAO says public education campaigns will be scaled up to ensure parents know when to bring children for check-ups, ideally between ages seven and nine.

Ize-Iyamu noted that tackling the shortage requires a holistic approach combining training, policy, awareness, and international collaboration. She expressed optimism that with the right partnerships, Nigeria can build a stronger orthodontic workforce.

Her election as NAO president has been described by colleagues as timely, given her experience in both academia and practice. Supporters believe her leadership could mark a turning point for orthodontic care in Nigeria.

‘Nigeria has the talent, the passion, and the patient demand. What we need is investment, planning, and commitment. Orthodontic care should not be a luxury it should be a standard part of our healthcare system,’ she concluded.

Lagos, Nigeria September 27th 2025- There’s a new window opening up in Nigeria to the global market in industrialisation but only 1% of Nigeria’s industrialists are leading this charge, all that will change as Emma-Tob International Academy reaffirmed its commitment to shaping the future of Nigeria’s industrial and economic growth by equipping the next generation of engineers with cutting-edge skills, knowledge, and practical experience. Through its innovative learning approach, the Academy is positioning itself as a driving force behind Nigeria’s much-needed industrial revolution.

Founded with a vision to bridge the gap between theory and practice, Emma-Tob International Academy is nurturing engineers who are not only academically sound but also industry-ready. The Academy’s curriculum integrates classroom instruction with hands-on workshops, industry partnerships, and real-world problem-solving projects, ensuring that graduates are equipped to tackle Nigeria’s infrastructural and technological challenges.

‘Nigeria cannot achieve industrialization without engineers who are globally competitive and locally relevant,’ Debbie Oreoluwa, Founder and Director of Emma-Tob International Academy. ‘Our mission is to build engineers who will power industries, create solutions, and drive the nation’s transformation-one engineer at a time.’

With Nigeria’s economy at a critical turning point, the Academy emphasises areas such as renewable energy, manufacturing, construction technology, and sustainable industrial practices. By doing so, it aims to reduce dependence on imported expertise and empower local talent to lead Nigeria’s Industrial Revolution.

Beyond academics, Emma-Tob International Academy is also committed to mentorship, innovation incubation, and entrepreneurship development. The institution’s belief is that every engineer trained is a potential employer of labour, innovator, and contributor to the nation’s GDP.

The Academy has already begun forging partnerships with secondary schools, universities, industry leaders, and professional bodies to strengthen its vision. These collaborations open doors for students to access internships, research opportunities, and international exposure, further preparing them to lead Nigeria’s industrial evolution.

About Emma-Tob International Academy

Emma-Tob International Academy is a premier institution dedicated to advancing engineering education and practice in Nigeria. With a focus on innovation, skills development, and industrial relevance, the Academy seeks to empower students to be at the forefront of Nigeria’s industrial transformation.

What does this recognition mean to you personally and to the company as a whole?

This award is a validation of the hard work and commitment of our entire team. Personally, it reinforces my belief in the vision laid down by our founding partners and continually championed by the team which is building a truly African financial services firm that can compete globally. For the company, it’s both a recognition of past performance and a motivation to push further in delivering innovative, client-focused solutions.

What key strategies or innovations do you believe set your company apart from competitors in the African market?

Putting our clients at the heart of every decision has been the cornerstone of our success. We invest deeply in understanding their needs and tailoring solutions rather than taking a one-size-fits-all approach. Backed by our robust, data-driven research capabilities, we provide insights that help clients navigate complex markets and make informed investment decisions. Coupled with this, we leverage technology to enhance efficiency and transparency, and we are constantly innovating – whether in product design, execution speed, or access to markets.

With increased competition and market volatility, what strategies are you implementing to sustain this competitive edge and possibly win again in the future?

We are doubling down on innovation, diversification, and partnerships. By continuously refining our product suite, strengthening relationships with clients, and leveraging technology, we can stay ahead of the curve. Equally important is maintaining operational discipline – ensuring efficiency and resilience even in volatile market conditions.

Can you walk us through some of the biggest challenges that CardinalStone faced on the path to this achievement, and how your team overcame them?

Like many firms operating in Africa, we’ve had to navigate macroeconomic volatility, currency fluctuations, and regulatory shifts. These challenges could have slowed us down, but we responded with agility by strengthening risk management frameworks, diversifying our offerings, and investing in talent capable of adapting quickly. The steady leadership of our management team combined with the resilience of our people, has been key to overcoming these hurdles.

How has the Company tailored its services to cater to the diverse needs of investors across different African markets?

Africa is not a monolith. Each market has its own regulatory environment, investor appetite, and liquidity dynamics. We’ve succeeded by being adaptable – building local expertise while drawing on global best practices. This allows us to serve institutional and retail clients with the nuance and customisation they require.

Technology is reshaping the financial industry globally. How has digital transformation contributed to the Company’s success, and what’s next in your digital roadmap?

Technology has been a game-changer for us. From electronic trading platforms to data analytics that support smarter decision-making, we’ve embedded digital tools into every layer of our operations. Looking forward, our focus is on enhancing accessibility for retail investors and automating processes to reduce friction to better serve our clients.

Talent is critical in a fast-moving industry like stockbroking. What steps is the Company taking to attract, train, and retain top talent across its operations?

We prioritise creating an environment where people can grow. That means structured training programmes, mentorship, and exposure to global best practices. I’ve personally benefitted from the mentorship of our founding partners and executive directors, and we seek to cascade that culture of guidance across the organisation. Beyond this, we empower our people to take ownership of projects and encourage innovation, all within a culture of meritocracy and inclusiveness. These efforts have not gone unnoticed. CardinalStone has been recognised among the Great Places to Work, underscoring our commitment to building a workplace where people thrive. It’s this blend of growth, empowerment, and recognition that makes CardinalStone an attractive place to build a career.

Corporate governance and transparency are increasingly important. How is your company ensuring it maintains the highest ethical and regulatory standards?

We’ve built strong governance structures that are embedded at every level of decision-making. Compliance is not treated as a box-ticking exercise but as a culture. Regular audits, clear reporting lines, and a strong board oversight framework ensure that we remain accountable to our stakeholders. This commitment to transparency has been instrumental in building trust with clients and regulators alike.

Are there plans to expand CardinalStone’s footprint beyond your current markets, either within Africa or globally?

Yes, absolutely. Our strategy is to consolidate our leadership in Nigeria while exploring opportunities in key African markets where our expertise can add value. Beyond Africa, we are also building relationships with global institutional investors looking to access African opportunities. Expansion for us is about sustainability, entering markets where we can deliver long-term impact.

What message do you have for your clients, stakeholders, and young professionals looking to enter the African capital markets industry?

To our clients and stakeholders, thank you for trusting us, this recognition belongs to you as much as it does to us. We remain committed to walking this journey with you and unlocking opportunities together. To young professionals, Africa’s capital markets are full of potential. Stay curious, be resilient, and bring fresh ideas. The future of this industry depends on your innovation and courage.

The mediation meeting to resolve the ongoing dispute between Dangote Refinery and Petroleum and Natural Gas Senior Staff Association of Nigeria (PENSASSAN) ended in a deadlock as both parties could not come to terms, after about nine hours of meeting.

The meeting which was chaired by Muhammad Dingyadi, minister of Labour and Employment, had leadership of PENGASSAN, Dangote Refinery, Minister of Finance, and key directors of the Nigerian Upstream Petroleum Regulatory Commission and Nigerian Midstream and Downstream Petroleum Regulatory Authority in attendance.

Speaking to journalists after the meeting at the early hours of Tuesday, Festus Osifo, president of PENGASSAN explained that the meeting could not resolved the issues at hand as the management of Dangote Refinery refused to reinstate the sacked staff.

He insisted that the demand of the association was the reinstatement of the 800 staff that were sacked, adding that the strike action continues without their reinstatement.

‘Yes, as you could see, we’ve been here for about nine hours trying to find solutions. And we’ve had numerous deliberations from the larger team we broke into a smaller team trying to find solutions. But unfortunately, there is no solution tonight.

‘Because all we want is that we have 800 people plus that are at home, these people, they are fathers, they are mothers, their career is at stake. When you terminate people the way you’ve terminated them, it will be extremely difficult for them to find jobs anywhere.

‘ Some of these people are trainees and you said they have committed sabotage. So if they go home like that, there is no other company they will get jobs to do again in Nigeria because they have seen them as saboteurs. So these are careers that will be damaged if proper remedy is not put in place.

‘So that is why for us, our position has been very clear; you have to reinstate these people. If you reinstate them tonight, we will call off our action tonight but unfortunately, that reinstatement did not happen. And we were not able to reach conclusions on the subject.

‘So they have asked us to come back again by 2 o’clock tomorrow and we will continue to pray. Or rather, 2 o’clock today. We are already on Tuesday, 30th September. So we will reconvene. And we pray that God should touch the heart of the capitalists. God should touch the heart of the oppressors for them to call our people back to work. So as it is, just as we have communicated, the strike continues until we come back again to see if we can find a solution to the issues,’ Osifo said.

For Muhammad Dingyadi, minister of Labour and Employment, the Federal Government is committed to resolving the dispute which according to him revolves around the sacked staff and unionization of workers.

He said that the parties agreed to reconvene by 2pm to resolve the dispute.

‘There are no other issues now, the issue of unionisation and the 800 staff that were sacked. These are two basic issues that we have been discussing.

‘We have not arrived at any position. We are still working, we are still talking.

Also speaking, Wale Edun, minister of finance and coordinating minister of the economy said that what is of utmost importance in the minds of everybody, the public, the government, the investors, and economic actors generally, is the need to limit the damage the action could have on the economy.

‘We need to wrap it up, we need to resolve it, and we need to have workers going back to work. We need to have the gas flowing. We need to have food flowing as imports into production, which is where the economy has arrived at right now, where we are able to add value, where we are able to grow the economy.

‘And we don’t want that momentum to be broken. And that’s why you see us here for nine hours trying to resolve just one naughty issue, as the Honorable Minister for Labor and Employment has said, and we are optimistic that by tomorrow we will break the deadlock, we will resolve the stalemate, and we will put this issue behind us and be able to keep the Nigerian economy going forward as it is currently at present. It’s important that we maintain the momentum of growth, of upward trajectory of the Nigerian economy,’ Edun said.

The Federal Capital Territory (FCT) Police Command has expressed deep sorrow over the tragic death of Somtochukwu Maduagwu, a journalist with Arise News Channel, who was killed during an armed robbery at her residence in the Katampe area of Abuja.

Maduagwu, a news anchor, reporter, and producer, was attacked in the early hours of Monday, September 29, 2025.

In a statement issued on Tuesday, Ajao Adewale, Commissioner of Police, FCT Command, described the killing as a cruel and senseless act that has no place in a civilised society.

He extended his condolences to the family, friends, and colleagues of the deceased, assuring them that the police will leave no stone unturned in the pursuit of justice.

Adewale disclosed that he had ordered a discreet and comprehensive investigation into the circumstances surrounding the incident.

He further directed the deployment of intelligence and operational teams to track down and apprehend those behind the attack.

‘The Command remains fully committed to ensuring that justice is served,’ he said, while urging residents of the FCT to assist investigators with timely and useful information that could help in the arrest of the perpetrators.

He also encouraged the public to remain vigilant and raise alarms at the sight of suspicious activities in their neighbourhoods.

Residents can reach the Command through its emergency lines: 08032003913, 08028940883, or the Complaint Response Unit (CRU) via 08107314192.

The statement, signed by Josephine Adeh, Police Public Relations Officer, emphasised that the Command stands in solidarity with the bereaved family and the Nigerian media industry, pledging to intensify efforts to bring the culprits to justice.