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Estate planning is the structured process of organizing and managing an individual’s assets during their lifetime and arranging for their efficient transfer upon death or incapacity. It encompasses the preparation of legal instruments, such as wills, trusts, and powers of attorney, to ensure asset preservation, provide for dependents, and align asset distribution with the individual’s personal, financial, and philanthropic objectives, all in compliance with applicable laws and regulations.

Estate planning remains one of the most important but neglected areas of family life in Nigeria particularly for aging parents. Most families are often left in crisis situations when a parent, and in most cases the breadwinner, becomes incapacitated or dies suddenly with no plan in place as to how the surviving family members can have access to his assets or continue to manage his business. The consequence has been that the family becomes confused with hitherto hidden crisis suddenly resurrecting leading to court battles, strained family relationships, or even the loss of hard-earned property and investments.

This article aims to essentially provide a concise but thorough step-by-step overview of what estate planning entails for elderly parents in Nigeria, the key factors to be considered, and the ways in which families can begin the process in a culturally sensitive and legally correct manner.

Why Estate Planning?

Aging inevitably comes with higher risks to health and diminished abilities to manage one’s finances or be involved in the day-to-day management and negotiation of complicated property issues. Forward and thoughtful planning process gives aging parents the chance to make intelligent decisions regarding:

How their assets are carefully organised and eventually passed on to their beneficiaries.

Who acts on their behalf should they no longer be able to do so or be involved in the day-to-day running of the business.

How would their dependents, spouse, or children be taken care of financially.

How do they ensure that the family cohesion is maintained and that family conflicts are avoided when they pass on.

In many jurisdictions, including Nigeria, improperly constituted Estate Plan has resulted in numerous court cases involving land, cash, businesses, and pensions. In the absence of properly arranged and documented Estate plan, some members of the family or institutions forcefully takeover these assets which are neither documented nor legally transferred to them. All these could conveniently be avoided with proper Estate Plan.

Estate Plan for aging parents in Nigeria need not be complex, although it must be concise, thoughtful and purposeful. The overriding aim and principle should be to ensure the wishes of the parent are respected, and their beneficiaries are not left in confusion or disputes when the Settlor passes on.

One of the first and most important steps in estate planning is the preparation of a valid legal will. This is the most traditional way of giving assets to loved ones. A will is a short statement of the maker’s wishes regarding how his or her assets should be distributed upon death. Although not exhaustive, some of the most common assets that may be disposed of in a will include property, bank accounts, vehicles, investments, pensions, personal belongings and digital assets.

A properly written will provides protection from inheritance disputes and minimizes interference from customary, traditional, or statutory claims that may conflict with the deceased’s true intentions. It ensures that the distribution of assets is carried out according to the testator’s wishes, not left to chance or contested interpretations. Given the complex nature of wills, especially in a culturally diverse legal environment like Nigeria, it is strongly advised that Settlors seek legal counsel when preparing and executing a will. This ensures that the document carries the full force of law, is free from ambiguity and less likely to be challenged.

It is possible that some aging parents may not be disposed to writing a Will (often regarded as remembrance of death).

In which case, a Settlor could consider setting up a Trust especially where the estate is more complex say, with multiple spouses, young children, or vulnerable family members. A Trust allows assets to be held and managed on behalf of beneficiaries, typically through a licensed Trust company. In Nigeria, Trust Companies are registered and regulated by the Nigerian Securities and Exchange Commission (SEC) and have a legal obligation to administer the trust in good faith, ensuring the fulfillment of the terms as specified by the Settlor over the years. Trusts are particularly helpful when money disbursement, property administration, or wealth accumulation for the subsequent generation needs to be carried out professionally and gradually distributed.

Another significant part of the estate planning process is beneficiary naming on retirement accounts, life insurance policies, cooperative contributions, and other such financial instruments. Under the Nigerian Pension law, the named Next-of-Kin takes no benefit of the amounts standing to the credit of the deceased’s Retirement benefits. The Will must specifically name the beneficiaries in a formal Will. Parents should thus scrutinize and regularly update their estate plan to ensure that there are no lacunae that could be exploited by persons waiting to pounce on their assets once they pass on.

Apart from ensuring that assets are distributed to named beneficiaries either in the Will or Trust instruments, there is also the concern of decision-making in the event of sickness or incapability. A power of attorney can be utilized in appointing a person that is acceptable and trusteed by the Settlor to make legal, financial, or even medical decisions on behalf of the parent when the parent become incapacitated or is unable to manage his/her affairs. This instrument can become exceptionally useful in the management of day-to-day affairs such as accessing bank accounts, settling bills, or dealing with property, and needs to be balanced in terms of adopting a preventive approach versus an aftereffect one.

While relating with others, it is possible that a parent may have entered into contracts or agreements that either increased his/her assets or imposed liabilities on them or claims against their assets. It is therefore important that they are encouraged to document every asset that may have accrued from such relationships or liabilities that they may have been exposed to. Parents need to be encouraged to maintain an up-to-date list of all that they own: land, buildings, shares, pensions, cars and of any debts payable to or owed by them. That document, whether kept in paper form or electronically, helps family members and executors to ascertain whatever assets the deceased has, or liabilities owed when family members review his/her affairs. Having such clear and concise assets list would ultimately prevent disputes or conflicts from family members or those claiming against the estate.

Finally, although frequently overlooked and left to the discretion of family members, it is useful for parents to give guidance or direction either in the Will or Trust instrument regarding their funeral wishes, such as the nature of the funeral, where they wish to be buried, and what cultural or religious practices they would like their families to adopt, follow or outrightly avoid. Although intensely personal, providing the needed guidance or direction will not only help to soften the emotional trauma that the family is subjected to at that trying moment but also minimize the risk of argument as to how the deceased wants to be buried or the nature of the funeral celebrations.

The above, all ccollectively brought together in a brief, written plan are the basis of an empathetic estate planning process. They not only give comfort to elderly parents but also give their families the clarity and organization needed to manage the future with understanding, dignity and harmony.

Calls for sweeping constitutional and institutional reforms to safeguard Nigeria’s democracy dominated the National Electoral Reforms Summit 2025, where political leaders and reform advocates warned that without urgent action, the 2027 elections may lack legitimacy.

The summit themed, ‘Critical Constitutional Amendments for Credible Elections in 2027’ and convened virtually by the National Consultative Front and the Labour and Civil Society Front, featured interventions from former Transportation Minister Rotimi Amaechi, former lawmaker Usman Bugaje, political economist Pat Utomi, former Education Minister Oby Ezekwesili, and Peter Obi, Labour Party’s 2023 presidential candidate.

Amaechi struck a pessimistic note, insisting that politicians in power would never willingly carry out reforms that weaken their hold on office.

‘There is absolutely nothing anybody can do about electoral reform in Nigeria under the present government,’ he said. ‘Politicians will not do that. Why would they, when politics has become a source of income for them? Electoral reform would mean taking power back to the people, so that votes can hire and fire. They don’t want that.’

Bugaje reinforced Amaechi’s warning, pointing to widespread electoral manipulation and judicial complicity. ‘This regime has shown that they are not even prepared to conduct an election,’ he said, citing recent polls in Kaduna where results were announced before ballots were cast.

‘The 2027 election as things stand is not going to be won or lost at the ballot box. It’s going to be won or lost on the streets of Nigeria. We must begin to organize to resist those who are hell-bent on staying in power irrespective of the votes Nigerians cast.’

Utomi, however, emphasised that the survival of Nigeria’s democracy depends on restoring legitimacy through credible elections. ‘A government that is perceived as lacking legitimacy will never be effective in governing,’ he said.

‘Legitimacy is earned when people believe elections reflect their will. If we do not do everything to ensure free and fair elections, everybody loses, including those who think they have power for the moment.’

Utomi also urged international pressure on Nigeria’s political class. ‘We should internationalise this problem to the point that our country could face isolation. Sadly, many of us helped bring Nigeria to pariah status in the past, but sometimes shame is necessary to pull back from the brink.’ He accused Nigeria’s legal profession of betraying democracy: ‘Nigerian lawyers are the shame of Africa. Judges have behaved like they didn’t go to school. We must not betray the essence of our professionalism for crumbs.’

Ezekwesili laid out a detailed framework for reform, stressing INEC’s financial and operational independence, mandatory electronic transmission of results, and stronger prosecutorial powers to punish electoral offenses.

‘Relying on the police and attorney-general for prosecutions has only rewarded bad behavior,’ she argued.

She also pressed for transparent appointment of INEC commissioners, expanded timelines for voter registration and candidate nominations, and stronger oversight of result collation.

The former minister criticised what she described as enabling ‘courtroom democracy.’ ‘Elections are being decided in court rather than at the polling station,’ she said.

‘That destroys the spirit of democracy. We need specialised electoral courts, automated systems for assigning cases to judges, and strict timelines for resolving disputes. Right now, elections have become an industry for the judiciary.’

For her, the ultimate solution lies in mass citizen action. ‘The political class does not care about a few elites talking about reforms. What they fear is when Nigerians themselves take ownership of the struggle for credible elections. For as long as our electoral system is a mess, it continues to destroy lives and futures. We must get citizens to say: this is the hill we are prepared to die on,’ she said.

Obi also lending his voice to the reform agenda. ‘This is a very critical thing that has to happen before our next election,’ he said. ‘Without a proper electoral system that can guarantee free and fair elections, our democracy will remain fragile.’

The former Anambra governor added the electoral reform should also discourage cross-carpet by politicians, proposing that any politician who jump party after winning election should lose his seat.

The summit ended with consensus that achieving meaningful reforms before 2027 will require citizen-driven pressure, civil society mobilisation, and a collective refusal to accept compromised elections as the norm.

President Bola Ahmed Tinubu, on October 1st broadcast, called on citizens to embrace the culture of tax compliance as the nation works toward economic recovery and inclusive growth.

Delivering his address to mark Nigeria’s 65th Independence anniversary, Tinubu said that while the government is ‘plumbing of the economy,’ citizens must play their part by paying taxes and supporting homegrown enterprise.

‘Let us be a nation of producers, not just consumers. Let us farm our land and build factories to process our produce. Let us patronise ‘Made-in-Nigeria’ goods. I say Nigeria first. Let us pay our taxes,’ the president urged.

The call comes as the administration announced a rise in Nigeria’s tax-to-GDP ratio from below 10 percent to 13.5 percent in just over two years, with a new tax law expected to take effect in January 2026.

According to Tinubu, the law will not increase burdens on existing taxpayers but will expand the tax base and provide relief for low-income earners.

‘The tax law is not about increasing the burden on existing taxpayers but about expanding the base to build the Nigeria we deserve and providing tax relief to low-income earners,’ he said. The president highlighted a series of economic milestones his administration has achieved since May 2023, including N20 trillion in non-oil revenue mobilised by August 2025, a rebound in oil production to 1.68 million barrels per day, and foreign reserves climbing to $42.03 billion, the highest level since 2019.

But he cautioned that Nigeria’s economic transformation would not be sustained without a sense of civic responsibility from its citizens.

‘The accurate measure of our success will not be limited to economic statistics alone, but rather in the food on our families’ tables, the quality of education our children receive, the electricity in our homes, and the security in our communities,’ Tinubu said.

On the 65th anniversary of independence, Tinubu positioned tax compliance as central to the country’s long-term vision of a prosperous and self-reliant Nigeria.

‘With Almighty God on our side, I can assure you that the dawn of a new, prosperous, self-reliant Nigeria is here,’ he concluded.

What began as crude phishing emails riddled with spelling mistakes has now evolved into a high-stakes battle against artificial intelligence-powered impersonations. From cloned voices to convincing video calls, cybercriminals are weaponizing AI to mimic reality so closely that even seasoned professionals struggle to tell the difference.

Cybersecurity expert, Okoli Ugochukwu, with over a decade of experience in security operations and incident response, has sounded the alarm: ‘Trust is no longer a starting point. It’s a reward that must be earned. In the AI era, we must verify first, then trust.’

According to him, traditional red flags like typos or suspicious email addresses have given way to sophisticated threats. Attackers now replicate a CEO’s writing style, voice, or even facial expressions in video calls to trick employees into releasing sensitive data or approving fraudulent wire transfers.

‘Imagine your CEO’s voice on the phone calmly asking you to authorize an urgent payment. Would you hesitate? That’s the new battlefield,’ Ugochukwu explained.

To combat this wave of AI-driven scams, he outlined five key defense strategies:

Multi-channel verification – Confirming requests across different mediums (e.g., email + phone call).

Contextual verification – Checking whether requests align with past behavior or tone. Zero-trust mindset – Treating every request as potentially malicious until verified.

AI-powered defenses – Using detection tools to flag anomalies in voice, video, or email.

Personal codes or safe words – Low-tech but effective human-only verification layers.

He emphasized that while the tools may be advanced, vigilance remains human-driven. ‘The landscape of trust has shifted. What can be faked in one channel is harder to fake across many. Habits of verification, not fear, will keep us resilient.’

With over 400 citations worldwide for his research on AI-driven cyber threats, Ugochukwu continues to push for a balance between human intuition and technology. His message is clear: as the line between truth and fabrication blurs, the key to digital safety is discipline.

Ugochukwu is a cybersecurity professional with 10+ years of experience in security operations, cloud security, and incident response. His research on AI and evolving AI-driven cyber threats has been cited over 400 times worldwide. He is committed to advancing cyber resilience through innovation, mentorship, and emerging technologies.

In Nigeria’s fast-paced world where vehicles are not just a convenience but the lifeblood of movement, trade, and connection, engines are the unsung heroes. From taxis weaving through Lagos traffic to long-haul trucks powering interstate commerce, the performance of an engine can mean the difference between efficiency and frustration. And at the heart of every great engine lies one essential element: quality lubrication.

This is where Ardova PLC, one of Nigeria’s foremost energy companies, and Shell Lubricants, a global pioneer in advanced motor oils, converge in a partnership that has redefined engine care in the country with the creation and distribution of Shell Helix motor oil. Ardova is the sole distributor of Shell Lubricants in Nigeria.

A Meeting of Expertise and Innovation

As part of our efforts to increase visibility and drive relevance for Shell Lubricants in Nigeria, we have organized two editions of the Power Conference to engage with industry players in the power sector, and position Shell Lubricants as a leader in that space.

We have also launched the ‘Keep It Running’ campaign, alongside other marketing efforts, to further strengthen this commitment.

The Science Inside Every Bottle

What sets Shell Helix apart isn’t just the brand name, it’s the technology within. Formulated with active cleansing agents, Shell Helix motor oils are designed to go beyond basic lubrication. They:

– Actively clean and prevent sludge build-up.

– Reduce friction for smoother performance.

– Protect against wear and corrosion, even under Nigeria’s demanding driving conditions.

Think of it as giving your engine a spa treatment ,cleansing, protecting, and rejuvenating it with every drive.

Why This Matters for Nigerian Drivers

Nigeria’s driving environment can be unforgiving. Heavy traffic, fluctuating weather, rough roads, and long-distance journeys all put engines to the test. Cheap or substandard oils often fail under these conditions, leading to breakdowns, higher fuel consumption, and costly repairs.

With Shell Helix, the Ardova-Shell Lubricants partnership provides a lubricant engineered to withstand these pressures, ensuring engines run smoother, last longer, and give drivers peace of mind.

More Than Oil: A Promise of Reliability

When motorists pick up a bottle of Shell Helix from an Ardova or Enyo filling station, they’re not just buying motor oil. They’re investing in a promise: the promise of a cleaner engine, improved performance, and the backing of two trusted names in the energy sector.

It’s a promise that every journey whether it’s the daily school run or a cross-country delivery will be powered by excellence.

Shell Lubricant Solutions

Shell offers a wide range of Lubricants across all industries, from automotive, fleet, general manufacturing, construction, mining and quarrying, agriculture, marine to power. Following decades of collaboration with the businesses that help shape our global industrial sectors, located across every corner of the world, we’ve come to help unleash untapped sources of power: potential.

At Shell Lubricant Solutions, we help unleash this potential:

– The potential for equipment to perform better and last longer

– The potential for people to face new challenges and stay safe

– The potential for businesses to adapt to change and for industries to be both profitable and responsible.

We believe in the potential for positive change, by empowering businesses, reducing negative impact, and improving lives.

Because potential is only a promise until you add action, we’re committed to helping you transform your own business, so we can all make a real difference to the world.

Our mission is to put potential in motion and that drives everything we do.

The Road Ahead

The Ardova-Shell partnership reflects a shared vision to elevate the standard of machine/ equipment care in Nigeria. By marrying innovation with accessibility, they’ve turned Shell into more than just a lubricant, it’s a movement toward smarter, more sustainable operations.

For Nigerians, this means every turn of the key isn’t just the start of an engine, but the continuation of a journey powered by trust, science, and collaboration.

Shell Lubricants are formulated for passenger cars, heavy duty engines, gas engines, hydraulic systems, industrial gears, turbines, compressors, transformer oil and marine applications.

Available nationwide in Ardova and Enyo filling stations as well as through authorized reseller stores.

Telecommunications giant Globacom has reaffirmed its commitment to Nigeria’s cultural heritage by renewing its sponsorship of the 2025 Ofala Festival, a vibrant celebration led by Igwe Nnaemeka Achebe, the Obi of Onitsha.

The announcement, made during a press briefing at the Obi’s Palace in Onitsha, underscores the festival’s pivotal role in driving Nigeria’s projected N11.2 trillion tourism sector contribution to GDP in 2025.The Ofala Festival, scheduled for October 17-18, 2025, will feature the Iru Ofala and Azu Ofala, alongside events like the Oreze Art Exhibition, a youth carnival, a medical outreach, and a royal banquet.

Globacom, the festival’s principal sponsor since 2011, emphasized that its support is rooted in the belief that cultural celebrations like Ofala are vital to Nigeria’s economy, identity, and global presence. ‘Nigeria’s tourism sector is expected to contribute N11.2 trillion to GDP in 2025, up from N10.9 trillion in 2024, with domestic tourism expenditure reaching N6.1 trillion and international visitor spending at N803.2 billion. These figures highlight the economic power of culture and tourism. Our investment in Ofala is about building communities, creating jobs, and fostering pride,’ Globacom stated.

The travel and tourism industry plays a major role in Nigeria’s economic development. In this interview with BusinessDay, IFEANYI EZEOKOLI, the MD/CEO, Incel Holidays and Tourism Limited, highlights the innovative ways Incel Holidays is redefining the tourism industry in Nigeria. Excerpts:

The tourism sector, to a very large extent, gives the state of health of the country. How has your experience been in Nigeria’s tourism sector, especially in the last 2 years?

The last two years have been both challenging and inspiring. On the challenging side, we have had to deal with rising costs in the industry from flights, visas, and even processing our local passports due to the exchange rates. I would also add that there are also infrastructure gaps and global travel restrictions that have reshaped customer expectations. Some years ago, you could travel to Dubai with N500,000 with flight, hotel, and visa inclusive; now N500,000 can barely cover return flights even to neighbouring Ghana.

But on the positive side, there has been a strong shift in interest towards other international destinations, including our very own domestic tourism. More Nigerians are realising that they don’t always have to go abroad to enjoy rich culture, scenery, and relaxation. Taking a cue from the last ‘Detty December’ in Lagos, seeing how Nigerians and foreigners trooped into Lagos to enjoy the excitement Lagos has to offer. That shift has kept the sector alive and given us hope for bigger opportunities ahead. Besides Lagos, we should remember Calabar Carnival, Obudu Resort, Ikogosi, and other interesting places within Nigeria.

More Nigerians are realising they don’t always have to go abroad to enjoy rich culture, scenery, and relaxation-Ezeokoli

What unique features stand your firm out in the nation’s holiday and tourism sector?

At Incel Holidays and Tourism Limited, we offer more than just travel planning. We provide complete solutions for our clients – end-to-end travel service, which includes affordable flights, smooth visa processing, hotel bookings, transfers, corporate travels, airport protocols, and guided tours. We have holiday packages designed to be fun-filled and convenient. Also, on request, we create bespoke holiday packages so our customers can focus on enjoying their trip while we take care of everything else. This ability to simplify travel for individuals, families, and corporate clients has helped us gain the trust of our customers over the years.

There are so many players in Nigeria’s tourism industry. How does your firm handle competition and disruptions in the industry?

Travel and tourism in Nigeria is a highly competitive space. However, we don’t approach it with fear. Instead, it pushes us to be innovative, go the extra mile to satisfy our customers while staying flexible.

When challenges come up-like changes in exchange rates, flight cancellations, or new rules-we adjust quickly. We negotiate new deals, look for new destinations, and keep open communication with our clients. This ability to adapt, along with our personal touch, helps us succeed in a very competitive industry.

The new government policies concerning exchange rates and subsidy removal created opportunities and new challenges. Could you please share your experience on how your firm tapped the opportunities and addressed the new challenges?

The policies definitely raised travel costs, but they also pushed us to think smarter. We leveraged stronger partnerships with airlines, other agencies, travel vendors, and hotel groups to secure discounted deals. We also expanded our domestic travel options, encouraging Nigerians to visit and see places in Nigeria. We have invested in reaching more customers around the world, using our Dubai branch as a key example. We are also using digital tools to provide our clients with more flexible payment options. While we faced challenges, these also gave us the opportunity to diversify and innovate. Nigeria will be 65 years old on October 1st. What message do you have for the country’s leaders at the federal and state levels?

At 65, Nigeria has much to celebrate, but we also need to look forward. I want our leaders to understand that tourism can be an integral part of our economy if we focus on it. Investing in infrastructure, safety, and promoting our destinations will attract foreign visitors and encourage Nigerians to explore their own country. If the government and private sector collaborate effectively, tourism can create as many jobs and contribute to the nations GDP as much as the oil and gas industry in the next ten years.

The Yuletide season is almost here and it is the time of the year customers expect a unique experience. Any special packages in the pipeline for your current and prospective clients?

Yes, this Christmas we have put together packages that give our clients something truly memorable. For those who want to explore closer to home, we are running a 7-DAY CHRISTMAS ADVENTURE ACROSS FOUR WEST AFRICAN CITIES, COTONOU, OUIDAH, LOMÉ, AND ACCRA.

It is a mix of history, culture, and fun, with stops at places like the Amazon Statue in the Republic of Benin, Casa del Papa resort, a Lomé boat cruise, and Accra’s Kwame Nkrumah Park. It promises to be a thrilling and relaxed road trip in a comfortable air-conditioned bus. The tour runs from 22nd – 28th December, 2025. This special offer allows clients to deposit only 30% by 15th October, and the balance due by 25th November, 2025.

For travellers looking further abroad, we have created a Singapore package that covers four nights of sightseeing, including Merlion Park, the famous Cable Car ride, and a guided tour of Scentopia. Everything from the visa to airport transfers and hotels will be handled by us thus making the trip stress-free. This valid from 1st September 2025 to 20th January 2026.

And for sports fans, December is extra special because of the AFCON 2025 in Morocco from Dec 21 to 31, 2025. Our Package takes you to three live Super Eagles matches, with 10 nights’ accommodation, tours, visa support with flights included.

Our Christmas package this year is different from the norm, as there are options that fit different target markets in the travel space. For those looking for a ONE-STOP travel partner this Yuletide season, Incel Tourism offers you everything from visa assistance and processing to flight tickets, hotel bookings and airport transfers. Our end-to-end solutions make your travel easy and stress-free. For bookings and further enquiries Call/WhatsApp 09113218885, 09113218886 or mail [email protected]

What is the outlook for the holiday and tourism sector in Nigeria?

The future is definitely bright for Nigeria’s tourism industry. Nigerians love to travel and experience new things. Aside from wanting to ‘JAPA’, more people are looking to build their travel history for either tourism or relocation to study or work. The Nigeria travel space has better online booking options and greater awareness of local attractions; the tourism sector is growing. If the government invests in the travel and tour industry and collaborates with private businesses, Nigeria’s tourism industry can become one of the strongest in Africa in the coming years.

Nigerian businessman and philanthropist, Tony Elumelu, has been honoured with the 2025 Appeal of Conscience Award by the Appeal of Conscience Foundation (ACF) in New York.

The award, founded by Rabbi Arthur Schneier, recognises leaders who promote peace, coexistence, and economic empowerment. Elumelu’s wife, Awele Elumelu, received the award on his behalf and delivered his acceptance remarks at the gala.

In his speech, Elumelu dedicated the award to colleagues recently lost in a tragic incident, and to young African entrepreneurs supported through his foundation. ‘Before all else, I wish to honour their memories with a moment of silence.’

Elumelu, founder of Heirs Holdings and the Tony Elumelu Foundation, emphasised his philosophy of Africapitalism, the belief that the private sector plays a critical role in driving inclusive growth.

He noted that his businesses employ more than 40,000 people globally, including through UBA, which operates in New York.

‘Through the Tony Elumelu Foundation, a personal commitment we made in 2010, we have identified, trained, mentored, and provided over USD100million in seed funding to over 24,000 young African entrepreneurs from all 54 African countries.’

‘By empowering a generation with economic opportunities and the means to shape their own destinies, we are combating the despair that fuels economic instability, migration, and insecurity,’ he said. Elumelu added that there’s more to be done. Thus, the Appeal of Conscience Foundation award not only strengthens my resolve to do more, to deepen our impact, but it is a call out for collaboration with those who share similar values.

The 2025 ceremony also honoured Cardinal Timothy Dolan, Archbishop of New York.

Rabbi Schneier, founder of the Appeal of Conscience Foundation, praised Elumelu as ‘a beacon of ethical entrepreneurship and visionary leadership.’

‘Business can be a powerful force for peace, stability, and human dignity. His commitment to uplifting others is a living example of conscience in action,’ he added.

Brian Moynihan, chair and CEO of Bank of America and Gala Chair, described the honourees as embodiments of moral leadership.

He said, ‘The Appeal of Conscience Foundation has chosen to honour Tony Elumelu and Cardinal Dolan because they personify the moral leadership and global responsibility that ACF stands for. Their works in faith, community, and economic empowerment remind us that progress and conscience go hand in hand.’

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has suspended its industrial action, which commenced on Monday.

This follows the reconciliatory meetings which took place in Abuja on Monday and Tuesday, at the instance of Muhammad Dingyadi, the minister of labour and employment. Dangote Refinery, at the meeting had agreed to deploy disengaged workers, while PENGASSAN committed to call off the strike.

PENGASSAN had embarked on the strike action to protest the sack of 800 workers by Dangote Refinery. The Association had said the action is an affront to all workers in Nigeria and a deliberate violation of Nigeria’s labour laws, the Constitution, and ILO conventions. However, Festus Osifo, President of PENGASSAN, who announced the suspension on Wednesday in Abuja, noted that the union suspended the strike strictly out of respect for the Federal Government and its institutions involved in the conciliation process.

He warned that the union would not hesitate to resume the strike if Dangote’s management fail to act in accordance to the agreement to recall the affected staff.

He said: ‘We are not happy with the terms of the agreement because it did not capture our main demand of recalling the 800 sacked Nigerians. But out of respect for government institutions, for the National Security Adviser, the DSS, the Chief Reconciliator of the Federation, and ministers who worked tirelessly into the early hours of the morning to mediate, we decided to suspend the action.

‘However, let me be clear: if Dangote fails to keep its part, we will resume immediately, without any warning.

‘We know that Dangote does not play by the rules or respect agreements. We believe and suspect that some of the promises extracted during the negotiations will not be honoured. But because we respect due process and institutions of government, we will give them that benefit of doubt. Yet, any breach will be met with severe and immediate response.’ Osifo speaking further, explained that PENGASSAN’s resolve to withdraw services nationwide was to protect young oil and gas workers who voluntarily agreed to be part of the union.

He noted that the oil and gas workforce has carried the burden of Nigeria’s economy for decades, providing over 90 percent of the nation’s foreign exchange earnings. ‘We know who we are and what we stand for. We are patriots who love this country more than any single individual, and that is why, despite our reservations, we chose to suspend this strike in deference to government efforts.

‘We will be monitoring closely. Any slip, any breach, any part of this agreement that is not kept, we will not issue further notice. We will not give any warning. We will resume the suspended industrial action immediately. That is our resolution.

‘Let’s see where they will take them to, the grey area where we were not happy with was very clear, it was the fact that we wanted them to send all of them to the Refinery but the government moved other wise, to find a middle point.

‘On paper it has been that they will take them back but in reality we have not seen it, so the issue is that we will not be deceived because they said they will take them back, then we will now wait, one, to five days, if we do not see any traction, we will not be deceived and that is why what we said was that we have suspended the industrial action.

‘We are in good faith as a demonstration to government that we respect institution, that we are extremely patriotic but this suspended action, we will go back to the trenches immediately we see any foul play, we will come back without any notice.’

Osifo affirmed that PENGASSAN’s struggle was not against progress but against injustice, and that the union would remain steadfast in defending the rights and welfare of its members, no matter whose interest was at stake.

Sterling Bank has announced the removal of Account Maintenance Fees (AMF) on all personal accounts, marking another bold step in its push for customer-focused banking in Nigeria.

The announcement, made on Independence Day, comes just months after the bank scrapped transfer fees on local online transactions in April. Together, the two decisions position Sterling as one of the most aggressive challengers of long-standing industry practices in the Nigerian banking sector.

In 2024 alone, Nigerian tier-1 banks earned more than ?650 billion from account maintenance and e-banking charges, according to industry data. Sterling’s decision effectively strikes at a key revenue stream for banks, while offering its customers relief from charges that have long been a source of complaint.

‘Every fee we remove is one less barrier between our customers and true financial freedom,’ said Abubakar Suleiman, Managing Director of Sterling Bank. ‘This was the rationale behind eliminating transfer fees in April, and it is the same principle we uphold as we eliminate account maintenance fees.’ Reinforcing this, Obinna Ukachukwu, Growth Executive for Consumer and Business Banking, said:

‘This initiative is about building lasting relationships that fuel sustainable growth. We put transparency and customer value first, and in doing so, we are building a foundation that serves both our customers and Sterling’s future.’

Industry analysts say the move could trigger fresh debate on banking charges in Nigeria, particularly as regulators continue to face pressure from consumer groups to reduce the cost of financial services.

Sterling Bank described the scrapping of AMF as a ‘declaration of financial independence’ for its customers, in line with the symbolism of the October 1st holiday.

With the back-to-back removal of transfer fees and now account maintenance charges, Sterling is consolidating its reputation as one of the most disruptive players in Nigeria’s retail banking landscape.