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IT is a no-brainer that Nigeria’s rather abysmal state and dismal fortune is largely rooted in a skewed, even perverse, leadership recruitment process. The terribly high statistics on poverty, out-of-school children, open defecation, poor electricity access and other features of underdevelopment can lead to no other verdict. Much of the problem is of course rooted in Nigeria’s extremely defective constitution. As we noted in a previous editorial, there is no doubting the submission that the inherent flaws in the existing constitutional framework manifest in weak delivery of governance arising from weak political structures and institutions; declining sense of citizenship and patriotism; and an increasing multi-dimensional poverty and inequality. As the report of the National Summit on the Future of Nigeria’s Constitutional Democracy held in July by a group of eminent Nigerians called The Patriots, in collaboration with the Nigerian Political Summit Group (NPSG), captures most poignantly, the same defective constitutional framework has enabled acute corruption, insecurity across regions; sectional, ethnic, and religious conflicts; and poor infrastructure.

Against this backdrop, it should be sufficiently clear that every effort in the direction of a restructuring of Nigeria’s electoral process deserves the backing of stakeholders. In this connection, it is cheering that a non-governmental, advocacy organisation, YIAGA Africa, and the International Press Centre (IPC), in partnership with the European Union Support to Democratic Governance in Nigeria Phase Two (EU-SDGNII), have launched a set of proposals for improving Nigeria’s electoral process. The objective of the proposals captured in a document tagged Citizens Memorandum for Electoral Reforms is to address the inadequacies, complexities and ambiguities in the 2022 Electoral Act and align the electoral legal framework with landmark judicial rulings that improve the electoral process. The well-researched document is meant to serve as a resource tool for legislators and other election stakeholders to understand priority electoral amendments and their strategic objectives.

The intendments of the memorandum were well elucidated during Yiaga Africa/IPC’s recent consultative roundtable with media practitioners in Abuja, held with the support of the European Union. The forum attended by civil society groups, EU partners, journalists, and newsroom editors dwelt on citizens’ demands for priority electoral reforms. As articulated by the organisers, the proposals stem from a comprehensive analysis of current challenges and the need to rebuild public trust in the electoral process. According to the Executive Director of the IPC, Lanre Arogundade, the National Assembly’s resumption to conclude work on constitutional amendments provides ample opportunity to intensify advocacy on electoral reforms. His views were echoed by Dr. Tony Onyima, a Senior Lecturer at Paul University, Awka, who posited that democratic sustenance is impossible without electoral reform, and urged the media to report issues with greater clarity, vision, and commitment to national development.

The proposed amendments to the Electoral Act are to strenthen INEC’s independence by reviewing the process of appointments into the commission, additionally specifying professional skills and qualifications and introducing timelines for INEC appointments, among others; strengthen state electoral commissions by removing the power to appoint its chairmen from governors; improve INEC’s efficiency by unbundling it, creating separate bodies to regulate politcal parties and prosecute electoral offenders; conduct elections earlier than the current 150 days enshrined in the constitution; conclude all pre-election matters before the election; reduce the timeline for handling election petitions to 90 days from the date of filing the suit; terminate all pre-election matters at the Court of Appeal, and introduce diaspora and out-of-country voting. Other proposals are to create special seats for women in the legislature, make political parties to have functional and verifiable offices in at least 24 states, and give women 35 percent positions in all of their governing bodies.

The memorandum also canvasses mandatory voter education by INEC, the National Orientation Agency and civil society groups; the use of other means of identification such as driver’s license, international passport, etc, to vote; mandatory audit of the voter register by INEC to remove duplications and ineligible voters; early voting by workers on essential duties such as security personnel, INEC staff, election observers and journalists; accessibility of electoral results to persons living with disability, and solidification of INEC’s power to delimit constituencies. In addition, the memorandum seeks sanctions for parties that fail to submit their membership registers and delegates’ lists at least 30 days before primaries, congresses or conventions; the prohibition of parties from withdrawing candidates after a two-week period following the publication of the final list of candidates, except in cases of death; compulsory electronic transmission of results, and the introduction of timelines for the mandatory conduct of testing and mock exercises for technologies deployed by the electoral commission.

From the foregoing, it is not hard to surmise that the memorandum incorporates lessons from past reforms, the 2023 general election, and recommendations from domestic and international election observers. We believe that the recommendations are patriotic and commonsensical, and should be implemented by the National Assembly working in conjunction with the state assemblies. In addition, we want vote buying to be decisively addressed, and for political parties to be funded by the generality of their members rather than moneybags. It is clear that with the present arrangement, politicians do not fear the people, knowing that they can easily manipulate them with money. All of this has to change if Nigeria is to see better days.

We commend Yiaga Africa/IPC for a job well done. If Nigeria gets better through electoral reform, it will be for the benefit of all Nigerians, not the authors of the Citizens Memorandum on Electoral Reform alone. If Nigeria will not send mechanics to represent it at the FIFA World Cup, then it cannot scoff at Yiaga Africa/IPC’s push for professional competence and skills as part of the criteria for the appointment of the INEC chairman. We also believe that giving journalists and other essential workers the opportunity to vote, removing the power to appoint the INEC chairman and state SIEC chairmen from the president and governors, respectively; deciding pre-election cases before election and deciding all electoral disputes before the swearing in of winners are recommendations that have the potential to advance Nigeria’s development narrative if faithfully implemented. What is more, the proposals align broadly with the recommendations by The Patriots/ NPSG, proving that there is a heightened consciousness among Nigerians for a Nigeria that is truly fit for purpose.

The Lagos State Consumer Protection Agency (LASCOPA) has said it has received a total of 11,101 consumer complaints since its establishment in March 2018, out of which it was able to resolve 10,474 cases, with 437 being presently processed, and 197 referred to relevant agencies.

The General Manager of LASCOPA, Afolabi Solebo, highlighted these achievements at the maiden edition of the Consumer Service Week and Award Ceremony, held at the Adeyemi Bero Auditorium, Alausa, Ikeja, recently.

Solebo also revealed that the agency, during the period under review, also facilitated recoveries worth N530,266,592.31 and $14,901.80.

He added that the recovered amount was for consumers across various sectors, such as: Electricity, Automobiles, Banking, Healthcare, Telecommunications, Insurance, Logistics, Hospitality, Food and Beverages, Oil and Gas, among others.

Solebo noted that the agency also carried out multiple enforcement operations across supermarkets, open markets, and retail outlets to rid the state of expired and hazardous products, while intensifying consumer education campaigns through partnerships with NYSC, schools, trade associations, market leaders, and community groups, to empower Lagos residents to know and assert their rights.

He explained that the decision to organise Consumer Service Week and Award Day was informed by the need to celebrate excellence, transparency, fairness, and also recognise individuals, government bodies, private sector operators, civil society, the media, and compliant businesses, for their invaluable role in promoting fair trade and consumer rights.

‘Today, we are not only appreciating stakeholders but also reflecting on the remarkable progress we have made together in ensuring that Lagos remains a safe and fair marketplace for all,’ Solebo said.

He reaffirmed LASCOPA’s mission to build a Lagos where consumer rights are respected, businesses thrive on integrity, and residents enjoy the assurance of safety, fairness, and value.

THE Centre for the Promotion of Private Enterprise (CPPE) on Sunday lamented that investors in Nigeria remain exposed.to harassment and service disruptions due to a lack of comprehensive legislation guaranteeing their rights or shielding them from harassment, arbitrary regulatory decisions, or unlawful shutdowns.

In a statement released by the CPPE Director/Chief Executive Officer, Dr. Muda Yusuf, persistent harassment and shutdowns of investment structures could lead to loss of confidence by investors, rise in capital flight, foreign direct investment declines, and domestic enterprises contracting their operations.

According to the CPPE statement, ‘Investors in Nigeria operate in an environment marked by uncertainty and institutional weakness. Key sources of vulnerability include: Weak legal protection; a growing culture of coercion, intimidation, and impunity among labour unions, resulting in industrial actions that are often out of proportion; Frequent policy reversals, inconsistent enforcement, and opaque regulatory processes raise business risks and discourage long-term investments; and cumbersome procedures, unauthorized enforcement actions, and protracted legal disputes create delays and uncertainty, undermining investor confidence and productivity.

‘Together, these factors erode Nigeria’s competitiveness, deter both local and foreign investment, and slow economic growth and job creation.’

On the economic implications, the CPPE stated that, ‘Investor vulnerability carries serious macroeconomic and social consequences.

‘When investors lose confidence, capital flight intensifies, foreign direct investment declines, and domestic enterprises contract their operations. ‘The resulting chain reaction includes job losses, declining tax revenues, and reduced economic growth.

‘Unrestrained strikes in strategic sectors such as energy, transport, and health disrupt production, threaten national security, and endanger public welfare.

‘Policy inconsistency and regulatory arbitrariness make long-term planning difficult, deepening Nigeria’s dependence on imports and weakening its industrial base.

‘Without corrective reforms, these trends will continue to erode national competitiveness, discourage innovation, and diminish Nigeria’s economic resilience.

On recommendations, the CPPE stated that, ‘Nigeria should enact a dedicated Investor and Employer Protection Act to provide a strong legal foundation for safeguarding investors’ rights.

‘The Act should: Codify the rights and obligations of investors, employers, regulators, and unions; Prohibit unlawful actions such as intimidation, coercion, unauthorized shutdowns, and harassment; Establish penalties, damages, and restitution mechanisms for violations.

‘The Industrial Arbitration Panel (IAP) should be strengthened for faster, impartial resolution of industrial disputes.

‘An Independent Investment Ombudsman Office should also be created to handle investor complaints and mediate disputes involving government agencies.’

On incessant strike actions by labour unions, the CPPE explained that, ‘Labour unions play a legitimate role in protecting workers, but their activities must align with the law and national interest.

‘Reforms should include: Proportionality of industrial actions; Designation of strategic sectors – including energy, health, transport, and ICT – as essential services, where strikes are restricted or prohibited; Introduction of compulsory arbitration in essential sectors to prevent economic paralysis. Clear sanctions and restitution requirements for unlawful strikes that inflict damage on businesses and the economy. ‘Labour rights should end where those of employers begin. Investors should have as much rights to protect their investment as labour unions have the rights to protect the workers. There is a need for a fair and equitable balance.

‘Mandatory publication of audited union accounts and governance records to enhance transparency.’

Concluding, the CPPE added that, ‘Protecting investors and employers is not a privilege – it is a national economic imperative.

‘Investors mobilize capital, create jobs, and generate the tax revenues that sustain government and society. Without them, there can be no sustained growth, no employment, and no national prosperity.

‘Nigeria must, therefore, urgently institutionalise a fair, secure, and predictable business environment that protects those who take risks to create wealth. This is not about weakening labour unions, but about balancing rights and responsibilities – to foster sustainable economic growth, social stability, and national security.

Entrepreneurship is a spirit, leadership is its soul, while society is its body. Without the spirit, the body is dead. The entrepreneurial spirit otherwise known as creativity is the building blocks of society. Without creativity, society will be lifeless, and without the force of innovation, the economy will be stagnated.

In the journey of creativity, imagination, information, ideas, and invention form the essential foundations. Yet, for creativity to truly transform society, these elements must be applied in practical and impactful ways. This is where innovation comes in.

Innovation is the process of improving, adapting, or commercializing inventions and ideas to generate value. While invention creates something new, innovation ensures it is useful, accessible, and influential. It is the bridge between creativity and progress, the engine that drives industries, economies, and societies forward.

Innovation is the central issue in entrepreneurship. It is the application of creative solutions to problems and to opportunities to enhance and to enrich people’s lives.

This article explores innovation as one of the Seven I’s of Creativity – its meaning, significance, process, challenges, and how it distinguishes itself from invention, while working hand-in-hand with the other pillars of creativity.

Understanding Innovation

At its core, innovation is the successful implementation of creative ideas that result in improvement or transformation. It does not always mean creating something brand new; often, innovation involves refining existing products, services, or processes to make them more effective.

For instance:

The smartphone was not the first mobile phone, but it innovatively combined computing, communication, and internet access.

The assembly line, pioneered by Henry Ford, was not the invention of the car, but an innovative way to manufacture vehicles affordably.

E-commerce platforms innovated traditional retail by digitizing and scaling shopping experiences.

Thus, innovation can be radical or incremental, disruptive or adaptive – but always focused on creating new value.

Innovation vs. Invention

It is important to distinguish between invention and innovation:

Invention is the creation of something new (e.g., the first electric light bulb).

Innovation is the improvement, adaptation, or widespread application of that invention (e.g., modern energy-efficient LED bulbs).

In other words, invention gives birth, but innovation gives growth. An invention without innovation may remain an unused prototype; innovation ensures it reaches society and changes lives.

The Role of Innovation in Creativity

1. Value Creation

Innovation transforms creativity into tangible benefits – economic, social, or cultural.

2. Scalability

Innovations spread ideas and inventions to larger audiences, ensuring impact beyond the individual inventor.

3. Problem-Solving

Innovation improves efficiency, accessibility, and effectiveness in addressing real-world challenges.

4. Competitive Advantage

In business, innovation ensures survival by keeping companies ahead of market trends.

5. Societal Transformation

Innovations in health, education, technology, and governance reshape how societies function and progress.

Types of Innovation

1. Product Innovation

New or improved goods and services, such as electric vehicles or digital banking apps.

2. Process Innovation

More efficient methods of production or delivery, such as cloud computing in business operations.

3. Business Model Innovation

New ways of capturing value, such as subscription-based streaming replacing DVD sales.

4. Social Innovation

Creative solutions to societal problems, like microfinance or community health programs.

5. Technological Innovation

Advances that drive entire industries, such as artificial intelligence or blockchain.

The Process of Innovation

Innovation follows a dynamic cycle:

1. Ideation: Gathering and generating potential solutions.

2. Selection: Identifying which ideas have practical value.

3. Development: Refining concepts into usable products or processes.

4. Implementation: Applying innovations in real-world contexts.

5. Diffusion: Scaling adoption so innovations reach and benefit larger audiences.

This cycle highlights that innovation is not just about having a ‘big idea,’ but about execution, adaptation, and impact.

Historical and Modern Examples of Innovation

The Internet: Though based on earlier inventions, its widespread innovation has transformed communication, business, and education.

Vaccines: Inventions in medicine became world-changing innovations when distributed at scale to save lives.

Ride-Sharing Apps (Uber, Bolt): Innovated transportation by blending mobile technology with traditional taxi services.

Renewable Energy: Solar panels and wind turbines illustrate innovations responding to environmental challenges.

These examples show that innovation not only responds to needs but often anticipates them.

Challenges of Innovation

1. Resistance to Change

People and organizations may prefer familiar methods, even when innovations are more effective.

2. Resource Constraints

Innovation often requires significant investment of time, capital, and talent.

3. Uncertainty and Risk

Not all innovations succeed; some fail in the market despite being technically sound.

4. Ethical Dilemmas

Innovations such as genetic engineering or artificial intelligence raise concerns about misuse or unintended consequences.

5. Rapid Obsolescence

In fast-moving industries, today’s innovations quickly become outdated, requiring constant renewal.

Nurturing Innovation

1. Encourage Experimentation

Cultures that embrace risk-taking foster innovative breakthroughs.

2. Promote Collaboration

Innovation thrives when diverse teams combine skills and perspectives.

3. Invest in Research and Development

RandD provides the foundation for innovation by testing new methods and technologies.

4. Stay Customer-Centric

Innovations that solve real problems for users are more likely to succeed.

5. Leverage Technology

Digital tools accelerate innovation by making data and resources more accessible.

6. Continuous Learning

Keeping up with trends, markets, and emerging knowledge sustains innovation momentum.

Innovation and the Seven I’s of Creativity

Innovation sits at the apex of the Seven I’s. It brings together the preceding pillars – imagination, information, ideas, and invention, and translates them into impact. Without imagination, there would be no creative spark. Without information and ideas, there would be no raw material. Without invention, there would be nothing to innovate.

But without innovation, creativity would remain incomplete – brilliant but ineffective, inspired but irrelevant. Innovation ensures creativity makes a difference in the world.

Innovation is what creativity looks like. Without innovation, we doubt creativity.

The Future of Innovation

As we move deeper into the 21st century, innovation will be shaped by trends such as:

Artificial Intelligence: Transforming industries from healthcare to education.

Sustainability: Green innovations addressing climate change.

Global Collaboration: Open innovation platforms connecting inventors worldwide.

Human-Centered Design: Innovations tailored to real human needs and experiences.

The challenge will be not just to innovate faster but to innovate responsibly; ensuring that new developments enhance human dignity and well-being.

Innovation is the fifth ‘I’ of creativity – the stage where inventions and ideas translate into meaningful change. It is more than novelty; it is the practical application of creativity to create value, solve problems, and improve lives.

From the wheel to the internet, from social reforms to sustainable energy, every area and era of human progress has been marked by innovation. Yet innovation is not reserved for scientists or entrepreneurs alone; it is present wherever individuals improve upon the old, adapt to challenges, or imagine better ways of living.

As part of the Seven I’s of Creativity, innovation reminds us that creativity is not complete until it touches lives and transforms realities. It is the moment when human imagination leaves the page, the lab, or the drawing board, and steps into the world to make a difference.

The Nigerian government’s plan to remodel airports has raised concerns among experts, who believe that the process is mere window dressing.

Group Captain John Ojikutu, a former Airport Chief Security Officer and airport security expert, expressed reservations about the project, citing the long-standing problems at the Murtala Muhammed International Airport (MMIA), as albatross.

‘The first thing to ask FAAN authority and the responsible government authorities for public properties is to show us the official survey plans for the MMA Ikeja,’ Ojikutu said.

He continued: ‘You can never get it (the survey plan) because more than half of the land has been compromised to private ownership and that is why I have repeatedly said that Lagos Airport is in the middle of uncontrolled urban development and complicated major road networks.’

Ojikutu emphasized that the airport’s security fence is a major concern, as it does not meet the requirements of the International Civil Aviation Organization (ICAO) Annex 17.

‘Without solving the problem of the airport perimeter fence and the security fence, FAAN and the MMA will remain in default of the provisions of Annex 17 Documents 8973,’ he stated.

Ojikutu also highlighted the issue of unruly passengers and the fear of homegrown terrorists becoming moles.

‘What K1 (Fuji musician, Wasiu Ayinde) did at MMA the last time he misbehaved unlawfully on a moving aircraft was nothing different from being an unlawful act to civil aviation, a criminal offence,’ he said.

He stressed further that: ‘Very unfortunately, the responsible authorities demonstrated to the global regulatory authority that he deserved to be rewarded or awarded a national honour as the president did. It was criminal.’

Buttressing, Dr. Oluropo Owolabi, former Managing Director of Skypower Aviation Handling Company (SAHCOL) and cargo handling icon,, shared similar concerns.

‘I’m unhappy about our Lagos airport and the way the remodeling thing is being handled,’ he said, stressing: ‘To me, this is just a hish hush arrangement to score undue points. To remodel an airport is not what you do in a hurry. A lot of planning, visibility studies, works come to play to ensure the comfort of passengers which is the key motive for setting up an airport.’

Owolabi cited examples of airports that have undergone successful remodeling projects, such as LaGuardia Airport in New York, which took six to eight years to complete.

‘The LaGuardia Airport (LGA), New York that recently undergone a complete remodeling, is an example,’ he said. ‘The project began in 2016 and was essentially finished by 2024, taking roughly 8 years.’

The experts’ concerns highlight the need for a more comprehensive approach to airport remodeling, one that prioritizes passenger comfort, security, and safety.

The Federal Airports Authority of Nigeria (FAAN) has approved a major redevelopment project for the Lagos International Airport, with an estimated 22-month timeframe.

However, the experts’ reservations suggest that more needs to be done to address the airport’s underlying problems.

According to Owolabi, planning a remodeling of the Lagos airport could take a year, identifying loopholes and devising foolproof means to tackle the problems once and for all before setting to work, which would also take some years.

‘I’m not happy with the situation at the airport today. I entered the industry in 1976 and I know what it used to be then. We travel abroad and we see the trend; what modern airports look like today. To engage in a hurried remodeling at this time and age is not worth being encouraged.

‘What plans do they have for passengers comfort during the remodeling period. How do they think the new terminal they plan to move to, would satisfy the needs of passengers, how do we take care of Nigerians doing businesses in the old MMIA and others providing services for the comfort of passengers, ‘ Owolabi querried.

He encouraged government to ensure a thorough job, noting that such could only happen when the original template and survey plan of the airport is secured to actually arrive at its expansion plan from conception.

‘The Lagos airport is modeled after Schipol Airport in Germany and anybody visiting the latter today can see the wide gap in difference,’ he said.

UAC of Nigeria PLC (UAC) has finalized its acquisition of Chivita/Hollandia (CHI Limited), following regulatory approval from the Federal Competition and Consumer Protection Commission (FCCPC).

The deal, first announced on July 30, 2025, transfers ownership of one of Nigeria’s foremost food and beverage companies, best known for its Chivita juice and Hollandia dairy brands, to UAC.

Eelco Weber, Managing Director of CHI Limited, welcomed the development, noting that the business is well-positioned for growth under its new ownership. ‘We are pleased to have received regulatory approval for this transaction. We look forward to a smooth transition and to seeing Chivita/Hollandia thrive under UAC’s ownership,’ he said.

Fola Aiyesimoju, Group Managing Director of UAC, described the acquisition as a strategic milestone for the group. ‘We are excited to officially welcome the Chivita|Hollandia team and brands into the UAC family, and we are eager to work together to build on their strong legacy and market leadership,’ he stated.

The acquisition strengthens UAC’s position in Nigeria’s fast-moving consumer goods (FMCG) sector, giving the group a larger stake in the rapidly growing juice and dairy segments. CHI Limited, with its flagship Chivita and Hollandia brands, dominates categories such as fruit juice, evaporated milk, and drinking yoghurt.

For UAC, the transaction aligns with its growth strategy of expanding its brand portfolio and leveraging established distribution networks. For The Coca-Cola Company, the divestment reflects a shift toward an asset-light model globally, even as it reaffirms its $1 billion investment commitment to Nigeria over the next five years.

The announcement coincides with UAC’s recently released half-year 2025 results, which showed a 33 percent year-on-year revenue jump to N110.4 billion, representing 56 percent of its 2024 full-year turnover. Operating profit nearly doubled to N12.59 billion, while pre-tax profit declined 25 percent to N11.1 billion due to the absence of last year’s foreign exchange gains.

Investor sentiment has remained strong. UAC’s share price has surged 134 percent year-to-date as of October 3, 2025, including a 10 percent intraday spike on Friday, likely reflecting optimism around the Chivita|Hollandia deal and the company’s growth outlook.

Nigeria’s digital payment space is witnessing intense competition as fintechs dominate transaction volumes, while traditional banks focus on translating digital activity into strong revenue growth.

According to data from the Nigeria Inter-Bank Settlement System (NIBSS), licensed mobile money operators, including OPay, PalmPay, and Moniepoint, processed a combined N71.5 trillion in transactions in 2024 – a 53.4 percent surge from N46.6 trillion in 2023. The growth highlights the expanding reach of fintech platforms, which now serve millions of Nigerians seeking fast, low-cost, and convenient digital payment options.

Moniepoint reportedly handles over one billion transactions monthly, while emerging players such as Anchor are gaining traction through embedded finance solutions for startups and SMEs. Fintechs’ agility and user-centric models continue to attract micro and retail segments, positioning them at the forefront of Nigeria’s cashless evolution.

Yet, despite fintechs’ dominance in transaction volumes, the country’s biggest banks are proving that profitability – not scale – remains the ultimate measure of digital success.

Data compiled by Nigerian Tribune show that eight leading banks collectively earned N983.66 billion in fees and commissions in the first half of 2025, representing a 39.9 percent increase from N702.84 billion during the same period last year. The surge underscores banks’ ability to monetize their digital ecosystems, leveraging mobile banking, online transfers, and card transactions as solid revenue channels.

Access Holdings led the pack with N204.70 billion, followed by UBA (N147.04 billion), FirstHoldco (N138.69 billion), GTCO (N135.17 billion), and Zenith Bank (N128.06 billion). Others include Stanbic IBTC (N114.30 billion), Wema Bank (N45.37 billion), FCMB (N37.91 billion), and Fidelity Bank (?32.05 billion).

Analysts say the shift reflects the banks’ strategic response to Nigeria’s 2023 naira redesign crisis, which accelerated the adoption of cashless payments. In its aftermath, banks expanded infrastructure, upgraded mobile apps, and strengthened digital onboarding to attract and retain customers.

‘Fintechs move money, but banks make money,’ one analyst observed. ‘While fintechs thrive on transaction volumes, banks have mastered how to turn digital activity into sustainable revenue streams,’ he said.

Still, fintechs’ dominance in retail and peer-to-peer transactions cannot be overlooked. Their affordability, speed, and accessibility have deepened financial inclusion, reaching underserved communities and small businesses. However, their model remains largely volume-driven, with thinner margins per transaction compared to banks’ fee-based earnings.

To stay competitive, traditional lenders are adopting fintech-style innovation – rolling out virtual cards, SME payment gateways, and mobile-first digital platforms. Some are also partnering with or investing in fintech startups to enhance innovation and appeal to younger, tech-savvy customers.

‘Banks bring trust, regulation, and balance sheet strength; fintechs bring innovation and convenience,’ another market watcher noted. ‘The synergy between both is shaping a new financial order,’ he said.

As of mid-2025, Nigeria’s digital payment ecosystem shows convergence rather than conflict. Banks continue to dominate high-value and corporate transactions, while fintechs lead the retail and small-transaction market. Analysts predict that the next phase of competition will center on profitability, compliance, and scalability – where fintechs must turn vast transaction volumes into consistent earnings, and banks must sustain innovation within regulatory limits.

For now, the data suggest a balanced coexistence: fintechs are driving reach and inclusion, while banks are harvesting returns and scaling digital profitability. Far from losing ground, Nigeria’s lenders are evolving – profitably – in the nation’s fast-digitizing economy.

The Stanbic IBTC FUZE Talent Show 2025, themed ‘The Ultimate Show’, now in its fourth edition, promising more entertainment and inspiration for audiences across Nigeria.

Speaking about the kickoff, Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers, said: ‘FUZE is that platform where young Nigerians can showcase their creativity and innovation, and where the public can witness first-hand the incredible potential within our nation. We are proud to continue providing this stage for talent to shine.’

Stanbic IBTC, through FUZE, continues to underline its commitment to youth empowerment, creativity, and entrepreneurship. By providing a platform where contestants can display their skills to millions of viewers, the organisation reinforces its role in shaping opportunities beyond the financial sector.

Viewers are encouraged to tune in every week to watch the contestants compete, connect with the judges, and take a step closer to the finale of Nigeria’s most inspiring talent showcase. Tune in and experience’The Ultimate Show’ and be part of the journey as Nigeria’s brightest talents compete for greatness.

The show, which celebrates creativity in music, dance, fashion, and technology, will air weekly on Africa Magic Showcase at 5 pm and AIT at 7pm, with highlights available on Stanbic IBTC’s YouTube channel.

The President and Chairman of the Governing Council of Chartered Institute of Personnel Management of Nigeria (CIPM), Mallam Ahmed Ladan Gobir, has urged the institute’s new inductees to see themselves not just as Human Resources practitioners, but also ‘stewards of transformation.’

The CIPM boss gave the charge, while inducting six Full Members and seventy-seven Associate Members, into the institute, at its 66th Specialised Induction Ceremony, for the administrators and HR staff of the Redeemed Christian Church of God (RCCG), at the Redemption Camp, in Ogun State.

Gobir urged the new inductees to see the lapel pins and certificates received, at the ceremony, as symbolising a professional and moral responsibility to remain committed to the highest standards of HR practice.

Describing the ceremony as indicating a cross from potential to professional for the inductees, Gobir insisted HR is not about pushing files, but ‘About stewarding destinies, igniting purpose, and transforming organisations. The true measure of HR is not in the policies you write, but in the lives you transform.’

He further urged the inductees, to prepare for the future of work, citing World Economic Forum projections that 92 million jobs may be displaced by automation, by 2030, while 170 million new roles will be created.

According to him, HR professionals must take the lead in preparing people and organisations for such transitions.

In his keynote address, Coordinator of Personnel Affairs at RCCG, Pastor (Dr.) Sabastine Okeke, while speaking on the topic: ‘Raising The Bar of Professional Standards: HR as a Steward of Transformation” , delved extensively on the historical evolution of professional bodies and the critical importance of professional standards.

He emphasised that HR professionals are no longer mere custodians of employment but must evolve into ‘stewards of the entire work experience.’

AS Nigeria commemorates 65 years of Independence, President Bola Ahmed Tinubu’s national broadcast stands as a powerful reaffirmation of our shared journey-from the dreams of our founding fathers to the bold reforms shaping our future.

His message is one of pride, resilience, and renewal. As a fellow member of the All Progressives Congress (APC) and a candidate seeking to serve, I find inspiration in his words-and responsibility in the work that remains.

Honouring Our Legacy, Grounding Our Future

President Tinubu’s tribute to Nigeria’s founding heroes-Herbert Macaulay, Nnamdi Azikiwe, Obafemi Awolowo, and others-reminds us of the ideals that gave birth to our nation. Their vision of a united, prosperous Nigeria leading the black race is not just history-it is a call to action.

Yet, as we celebrate their legacy, we must also confront the realities that have tested it. Governance missteps, institutional weaknesses, and missed opportunities have challenged our progress. As leaders, we must honour the past not only with reverence but with realism.

Reform with Empathy: Progress That Touches Lives

President Tinubu’s administration has made bold choices, including removing fuel subsidies, unifying exchange rates, and restructuring fiscal policy. These reforms are yielding results:

GDP growth of 4.23%, Inflation down to 20.12%

Non-oil revenue surpassing ?20 trillion

These are impressive strides. The President also recognises the human cost-rising unemployment, food insecurity, and economic anxiety- and he is working assiduously to address these concerns with compassion and targeted policies.

We’re also aware that President Tinubu is working on policies that translate macroeconomic gains into tangible improvements in education, healthcare, and job creation.

Economic Milestones: From Momentum to Maturity

The President’s 12 economic milestones reflect a nation in motion. From a 411% revenue surge to a trade surplus and more substantial reserves, Nigeria is regaining its financial footing. But sustaining these gains requires more than celebration-it demands strategic continuity.

Tax compliance, diversification, and anti-corruption efforts must be deepened. Oil production gains must be shielded from volatility. And our fiscal health must be anchored in transparency. I will advocate institutional reforms that protect these achievements and expand their reach to every community.

Security and Stability: Beyond the Battlefield

President Tinubu rightly salutes our armed forces for reclaiming communities and restoring peace. Yet, persistent insecurity in parts of the North and Southeast reminds us that military success must be matched by social healing. IPN will always support community-based peacebuilding, intelligence reform, and rehabilitation programs that foster lasting security.

Youth and Innovation: Investing in Nigeria’s Greatest Asset

The President’s initiatives-NELFUND, Credicorp, YouthCred-are empowering young Nigerians with access to education, credit, and digital tools. Yet youth unemployment remains a pressing concern. It is necessary to prioritise vocational training, startup incubation, and public-private partnerships to unlock youth potential and drive inclusive growth. And that is why I will salute the President for the tuition-free education in technical colleges recently ordered by President Tinubu. It is indeed commendable.

Productivity and Patriotism: Turning Vision into Value

President Tinubu’s call to ‘farm our land,’ ‘build factories,’ and ‘patronise Made-in-Nigeria goods’ is a rallying cry for national self-reliance. This vision must be supported by enabling policies, including those related to land access, infrastructure, and market linkages.

As a nation, we need to build a productivity framework that empowers SMEs, strengthens agriculture, and fosters local manufacturing.

A Shared Mandate: From Reform to Renewal

President Tinubu’s broadcast is more than a speech-it is a blueprint for national transformation. As a member of the APC and a candidate dedicated to service, I wholeheartedly embrace this vision and strive to deepen its impact.

Nigeria at 65 is not just about turning corners. It is about building bridges-between policy and people, between promise and progress.

Bringing It Home: Progress You Can Feel

As we celebrate Nigeria’s 65th Independence, I want all the citizens-sons and daughters of Ondo North Zone – to know that the reforms championed by President Tinubu are not just national headlines-they are fundamental changes that you can feel in our communities.

From increased federal allocations that support our local schools and clinics to new infrastructure projects that improve our roads and market access, the Renewed Hope Agenda is reaching our doorsteps.

It is expected that these gains will be deepened right here-by advocating youth employment programmes, expanding access to credit for small businesses, and accelerating rural development. Together, we will turn national progress into local prosperity.

Let’s write the next chapter together, not just in statistics, but in the lived experiences of every Nigerian.

Engr. Michael Abayomi Adeyanju, Director-General, Imole Progressive Network (IPN)