NEWS AGENCY OF NIGERIA
Shareholders laud Wema Bank’s 2024 financial performance 
Banking

Shareholders laud Wema Bank’s 2024 financial performance 

442 total views today

 

 

By Olawunmi Ashafa

 

 

Shareholders of Wema Bank have praised its financial performance for the 2024 financial year.

 

 

 

 

They gave the commendation during the 2024 Annual General Meeting (AGM), held virtually in Lagos on Thursday.

 

 

 

 

Wema Bank reported record performance, with gross earnings increasing by 91.51 per cent from ₦225.75 billion in 2023 to ₦432.34 billion in 2024.

 

 

 

 

Profit before tax rose by 135.16 per cent to ₦102.51 billion from ₦43.59 billion, while profit after tax climbed 140.13 per cent to ₦86.29 billion.

 

 

 

 

The bank’s total deposits increased by 35.65 per cent to ₦2.52 trillion in 2024, up from ₦1.86 trillion the previous year.

 

 

 

 

Total assets rose to ₦3.59 trillion in 2024, marking a 60.04 per cent growth from ₦2.24 trillion in 2023.

 

 

 

 

This performance places the bank well above the ₦1 trillion mark, which it first surpassed in the third quarter of 2021.

 

 

 

 

Wema Bank also expanded loans to customers by 49.94 per cent, reaching ₦1.20 trillion from ₦801.10 billion in 2023.

 

 

 

 

Year-on-year earnings per share stood at 483.2 kobo, reflecting a 91.51 per cent increase.

 

 

 

 

The bank’s non-performing loan rate dropped to 3.86 per cent, an improvement from the 2023 figure.

 

 

 

 

Shareholder Mr Matthew Akinlade commended the bank’s management, calling its performance “very outstanding”.

 

 

 

 

Mr Olatunde Okelana described the 2024 results as “historical”, and praised the bank’s focus on employee welfare.

 

 

 

 

Mrs Bisi Bakare, National Coordinator of Pragmatic Shareholders Association, also hailed Wema Bank’s resilience and achievements.

 

 

 

 

She further applauded the gender diversity on Wema Bank’s board, with five out of 11 directors being women – a 38 per cent representation.

 

 

 

 

Bakare also commended the bank’s succession planning and 100 per cent board meeting attendance.

 

 

 

 

Dr Oluwayemisi Olorunshola, Chairman of Wema Bank, expressed gratitude to shareholders, customers, staff, regulators, partners, and stakeholders.

 

 

 

 

She reaffirmed the bank’s dedication to maintaining its upward performance trajectory in future decades.

 

 

 

 

Managing Director Mr Moruf Oseni promised continued innovation, technological investment, and stakeholder-focused service excellence.

 

 

 

 

He announced the conclusion of a ₦150 billion Rights Issue on May 21, 2025 and proposed raising an additional ₦50 billion via private placement in June.

 

 

 

 

According to Oseni, this will increase qualifying capital to over ₦267 billion, strengthening the bank’s robust franchise.

 

 

 

 

He emphasised that Wema Bank, now 80 years old, is only beginning a much larger growth journey.

 

 

 

 

During the AGM, shareholders approved board re-elections, audit and board remuneration, and dividend payments of ₦1 per share.(NAN) (www.nannews.ng)

 

Edited by Kamal Tayo Oropo

Saudi Arabia impacts 4000 Lagos residents with eye care intervention
Health

Saudi Arabia impacts 4000 Lagos residents with eye care intervention

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By Oluwafunke Ishola

The King Salman Humanitarian Aid and Relief Centre (KSrelief) has extended the “Saudi Noor” ophthalmic volunteer programme to Lagos State, impacting more than 4,000 residents with eye care service.

 

Mohammed Alsahabi, Saudi Press Attaché in Nigeria, on Thursday, said the intervention was in continuation of the kingdom’s global mission to provide critical healthcare services to underserved communities.

 

Alsahabi, at the intervention held at Gbagada General Hospital in Lagos, emphasised that the initiative is a significant step in the kingdom’s ongoing support for preventive eye care in Nigeria.

 

He added that the Lagos phase of the initiative brought essential ophthalmologic services to the people.

 

According to him, beneficiaries at Gbagada General Hospital will receive comprehensive eye care services, including eye screening and cataract surgeries with Intraocular Lens (IOL) implants.

 

He further said that beneficiaries would receive correction of refractive errors and prescription eyeglasses.

 

The attaché disclosed that the initiative was executed under the directives of the Custodian of the Two Holy Mosques — King Salman bin Abdulaziz Al Saud and His Royal Highness Crown Prince Mohammed bin Salman.

 

He added that “it forms core component of KSrelief’s broader mandate to provide relief to communities facing healthcare challenges.”

 

Alsahabi noted that since the inauguration of the blindness prevention campaign in Nigeria in 2019, KSrelief conducted more than 218,000 eye examinations.

 

He said “more than 21,000 patients have regained their sight through surgical interventions and over 45,000 eyeglasses distributed, transforming lives and restoring hopes.”

 

He noted that the initiative, recently implemented in Yobe, Kano and Bauchi states, brought relief to thousands in the northern region.

 

“KSrelief’s efforts in Lagos signifies growing recognition of the urban-rural healthcare divide and the need to address eye health challenges even within densely populated city centres.

 

“Gbagada General Hospital, a major referral facility in Lagos, now becomes a vital hub for this life-changing outreach.

 

“With this latest effort in Lagos, the Kingdom of Saudi Arabia reinforces its relationship with Nigeria, dedication to humanitarian health missions and its solidarity with Nigeria’s efforts to combat preventable blindness,” he said.

 

A beneficiary of the intervention, Imam Yahaya Atederui, who is the Chief Imam of Al-Muftiham Mosque in Mushin, Lagos, commended Saudi Arabia “for the magnanimity in alleviating sufferings and preventing blindness in Nigeria.”

 

Atederui, who benefitted from cataract surgery, praised the medical technique and precision, saying it was painless and fast.

 

Similarly, Mr Yusuf Adebeshin, a civil servant, also lauded the Saudi Arabian Kingdom “for providing much-needed relief to many residents of Lagos.

 

“I benefited from a free surgical procedure on my right eye in January and required surgery for my left eye months later to clear my sight.

 

“The private hospital I visited charged me over N1 million, as a civil servant, where will I get that kind of fund? That’s why I’m so grateful for the free humanitarian efforts of the Saudi Arabian Kingdom.”

 

The News Agency of Nigeria (NAN) reports that globally, KSrelief remains steadfast in its commitment to humanitarian excellence and has executed over 3,400 relief projects in more than 107 countries since its establishment in 2015. (NAN)(www.nannews.ng)

 

Edited by Hadiza Mohammed-Aliyu

Sanwo-Olu engages Alaba Rago Market stakeholders on regeneration plan
General News

Sanwo-Olu engages Alaba Rago Market stakeholders on regeneration plan

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By Lydia Chigozie-Ngwakwe

 

The Lagos State Office of Urban Development has assured Alaba Rago Transnational Market stakeholders that its ongoing regeneration and redevelopment would be inclusive, transparent and beneficial, especially to the market’s original traders and occupants.

 

The assurance was given during a stakeholders’ engagement held at the palace of Oba Sulaimon Raji-Ashade, the Oniba of Iba, on Wednesday.

 

At the meeting, Gov. Babajide Sanwo-Olu said the Alaba Rago Market redevelopment was a priority for his administration.

 

Sanwo-Olu was represented by his Special Adviser on E-GIS and Urban Development, Dr Olajide Babatunde.

 

“Development has come to our doorstep – and this is sincere development.

 

“This is not about Mr Governor alone. He carries the mandate of the President, the Vice President, and most importantly, the people,” he said.

 

He emphasised that the project was not aimed at dispossessing people of their land, but rather at improving their livelihoods through organised urban growth.

 

“This regeneration is for the people. It is designed to benefit the original traders and residents, including the Hausa community, who have contributed immensely to the commercial growth of the area,” he said.

 

According to the governor, the project will be executed in six phases, with phase one expected to be completed before the end of 2024.

 

This phase, he said, comprised 10 blocks of 60 shops each.

 

Phase four, which includes a cattle ranch and trailer park, is also under construction, according to him.

 

He added that the redevelopment effort was a joint venture between the Lagos State Government and its development partners, and had the full support of the local communities.

 

“We have worked with the community, taken down distressed and improperly-planned structures, and we are rebuilding – for the people who were here before,” he said.

 

The Chairman of Iba Local Council Development Area (LCDA), Mr Yisa Jubril, thanked the governor and the royal father for their roles in actualising the long-awaited redevelopment.

 

“For years, people have been clamouring for Alaba Rago’s redevelopment. Today, we are seeing it become a reality,” he said.

 

Jubril urged the community members to inform others of the progress, and reiterated the administration’s commitment to ensuring that original traders would reclaim their spaces in the market.

 

The state Commissioner for Local Government, Chieftaincy Affairs and Rural Development, Mr Bolaji Robert, commended the royal father for good leadership, and praised the cooperation of the people of Iba and surrounding communities, including Okokomaiko and Sabo Oniba.

 

“Oba Raji-Ashade has brought remarkable transformation to the Iba Kingdom. His proactive approach to community development is exemplary,” Robert said.

 

 

 

In his remarks, Oba Sulaimon Raji-Ashade called on the residents and other stakeholders to support the government’s efforts, stressing the importance of inclusiveness and unity in achieving sustainable development.

 

“We are not tribalists in Lagos, we want to make sure everyone benefits – including our northern brothers. Let’s cooperate with the government; they are not here to scatter us,” he said.

 

The News Agency of Nigeria (NAN) reports that the meeting, attended by community leaders, market representatives, chiefs and traders, featured presentation of operational vehicles and urban development vests by the Office of E-GIS and Urban Development.

 

The stakeholders’ engagement marks a significant step in the Lagos State Government’s vision of “A Greater Lagos Rising,” with the Alaba Rago Transnational Market regeneration serving as a model for future market redevelopments across the state.

 

Alaba Rago Market is a popular food, livestock and scrap metal market in Iba, Ojo council area of Lagos State. (NAN)(www.nannews.ng)

 

Edited by Ijeoma Popoola

Experts task organisations on strong ethics, whistleblowing policy
General News

Experts task organisations on strong ethics, whistleblowing policy

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By Adebola Adegoke

 

 

 

Ethics and compliance experts have called on corporate organisations to build strong ethical systems and establish robust whistleblowing frameworks to ensure long-term profitability and sustainability.

 

 

 

They made the call on Tuesday during a webinar organised by Kaizen Academy, with the theme: “Overcoming Ethical Dilemmas in Corporate Decision Making”.

 

Kaizen Academy is a consulting firm that provides corporate strategy, compliance and governance advisory services.

 

Ms Gbemi Yusuff, Associate Vice President, Ethics and Compliance, NMC Healthcare, said that ethical responsibility should not rest solely with leadership but must permeate all levels of the organisation.

 

 

 

Yusuff noted that ethical leadership, institutional accountability, and a culture that encouraged reporting of wrongdoing were crucial for organisations to thrive in today’s competitive and regulated business environment.

 

 

 

“Companies often proclaim integrity and accountability in their public declarations, but it is the lived experience within the organisation that truly defines the culture.

 

 

 

“Corporate culture is the invisible hand that guides decisions when no one is watching.

 

 

 

“Everyone who has any level of responsibility is a leader in some way and must act in alignment with the organisation’s ethical values.

 

 

 

“In moments of ethical tension, it is culture that determines whether people act rightly even without direct supervision.”

 

 

 

She called for ethics to be integrated into long-term corporate strategy, with clear and measurable key performance indicators to reward integrity alongside results.

 

 

 

“Ethics is not a burden or an obstacle, it is the foundation for sustainable profitability and trust,” she said.

 

 

 

Mr Ayobami Adisa, Director, Data Governance and Compliance at IHS Towers, emphasised the critical role of whistleblowing in detecting corporate misconduct early and preserving business health.

 

 

 

Adisa urged organisations to create a safe environment for reporting misconduct that include timely investigations, communicating outcomes, and conducting post-investigation anti-retaliation check-ins with whistleblowers.

 

 

 

He stressed that companies must not only put in place whistleblowing and non-retaliation policies but also implement them rigorously.

 

 

 

“Whistleblowing is a tested feedback mechanism. If taken seriously, it helps organisations detect wrongdoings before they become disastrous.

 

 

 

“Having a whistleblowing policy is like cuffing yourself as an organisation. It means you’ve made yourself vulnerable and committed to protecting the whistleblower,” he added.

 

 

 

He said global best practices had shown that companies face severe penalties for ignoring whistleblower protection.

 

 

 

According to the expert, a growing number of organisations now incentivise whistleblowing by compensating employees who report financial misconduct or other violations that save the company from loss.

 

 

 

“Some even reward whistleblowers with a fraction of the funds recovered. It’s a trend we’re beginning to see, and it’s working,” he said.

 

 

 

Also, Mr Akinpelu Akinola, Group Head, Ethics and Governance at the Chartered Institute of Bankers of Nigeria, noted that beyond policies, corporate governance play a vital role in preventing ethical failures.

 

 

 

According to him, building a transparent, accountable system not only upholds integrity but is also good for business.

 

 

 

He urged companies to anchor business decisions on their core values to avoid crossing unethical lines.

 

 

 

“Corporate governance is the framework of accountability. It is how organisations design systems to check power, ensure transparency, and allow ethical concerns to be addressed quickly and impartially.

 

 

 

“As a corporate leader, you must build transparent systems that compels every staff to do the right thing because ethical decisions drives profitable sustainability,” Akinola said. (NAN)

 

Edited by Folasade Adeniran

Commission urges NASS on adequate funding of culture, creative sector
Culture & Tourism

Commission urges NASS on adequate funding of culture, creative sector

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By Joshua Olomu

 

Mr Olugbile Holloway, Director-General, National Commission for Museums and Monuments (NCMM), has urged the National Assembly (NASS) to ensure improved funding for the culture and creative sector.

 

Holloway made the call at an event organised by the commission to celebrate the 2025 International Museum Day (IMD) at the Chinese Cultural Centre on Tuesday in Abuja.

 

He said this would enable the sector contribute more to national economic growth.

 

According to him, as Nigeria seeks to diversify its revenue mainstay from oil, the culture and creative sector presents itself as a veritable option, if adequate attention was given to it.

 

He said President Bola Tinubu saw the sector as a viable source to significantly grow the economy and cause a paradigm shift from dependence on oil, and gave it a stand-alone ministry.

 

The NCMM helmsman, however, noted that adequate funding was needed to reposition the sector and harness the vast opportunities it offers for job creation, tourism growth and increased contribution to GDP.

 

He therefore urged the NASS, especially its committees on the sector, to prioritise its funding to boost the sector’s expansion for job creation and economic growth.

 

The NCMM helmsman added that the commission was presently working towards revamping museums across the country.

 

He however added that because of the huge funding required for the projects, the commission was seeking public-private partnerships for the projects.

 

“The sector has vast opportunities to turn-around our economy, and our Museums as critical cultural assets need adequate funding.

 

“At the NCMM, we have competent officers and workforce who only needed to be given the necessary support.

 

“I am using this opportunity to appeal to the National Assembly to pay more attention to this sector and allocate more funds.

 

“For the museum and heritage sector to thrive and remain relevant in today’s dynamic environment there must be significant investment.

 

“In line with the theme of the day, the commission is embracing technology and new media as strategic tools for cultural promotion”, he said.

 

According to him, the nation has rich cultural and historic heritages, as well as artifacts which need to be showcased to the world to make Nigeria a choice tourist destination.

 

He said that museum space is a very good opportunity to boost tourism by showcasing Nigeria’s cultural heritage because people all over the world are very interested in Nigerian culture.

 

The DG said the commission was utilising digital platforms to showcase collections of heritage stories, including the creative use of Artificial Intelligence (AI) on public billboards across major Nigerian cities, particularly in Lagos.

 

In his speech,Gabriel Zock, Chairman House Committee on Culture and Tourism, lauded NCMM for championing reforms in the culture and tourism sectors.

 

The member representing Kachia/Kagarko Federal Constituency said the nation’s culture and tourism sector has suffered neglect over the years, and needed major reforms to add meaningfully to national economy.

 

“The reason why we are here today is to celebrate culture, and to celebrate what God has blessed us with, and it shows that culture is very important.

 

It is amazing that today when we travel to the rest of the world, the first thing we want to do is to visit their cultural heritage, and we must showcase our own

 

“As a committee, we are drawing a plan on how to work with the agencies and support them to have good funding.

 

“I have promises the NCMM and other agencies under my watch that whatever they need to succeed , we the committee members will make sure we get it done.

 

“We will work with the budget office, the Ministry of Finance, and with other appropriations offices to make sure that this agencies get what they need”, he said.

 

Earlier in her keynote address, Hannatu Musawa, Minister of Art, Culture and Creative Economy, said the ministry was committed to revamping museums across the country

 

The minister, who was represented by the Permanent Secretary of the ministry, Dr Mukhtar Muhammad, said preserving and promoting Nigerian’s rich cultural heritage to the world was a priority of the ministry.

 

“As we navigate the complexities of a rapidly changing world, it will interest us to know that museums are poised to play pivotal roles in shaping our collective future.

 

“In an era marked by technological advancements, cultural, demographic shifts, and societal evolution, museums must adapt to remain relevant and impactful.

 

“Museums should also come in handy in addressing pressing global issues such as climate change, social justice, and cultural heritage preservation, and also foster community partnerships collaborations, and co-creation.

 

“Using them as platforms for marginalised voices, promoting empathy, understanding, preserving and showcasing our cultural heritage should be born in our minds while also addressing contemporary challenges.

 

“It is imperative to note that as the world is rapidly revolving, so is our museum, therefore, museums should not be seen as static walls, but about open doors, not about holding ons; but about reaching out to diverse communities”, she said.

 

NAN reports that International Museum Day, coordinated by the International Council of Museums (ICOM), is held annually on May 18.

 

It provides the opportunity for museum professionals to meet the public and alert them as to the challenges that museums face, and raise public awareness on the role museums play in the development of society.

 

It also promotes dialogue between museum professionals and highlights a specific theme which changes every year reflecting a relevant theme or issue facing museums internationally.

 

“This year’s theme is “The Future of Museums in Rapidly Changing Communities”.(NAN) (nannews.ng)

 

 

Edited by Ekemini Ladejobi

Don seeks research commercialisation, technology transfer
Education

Don seeks research commercialisation, technology transfer

247 total views today

 

 

By Millicent Ifeanyichukwu

 

A former Deputy Vice-Chancellor of Olabisi Onabanjo University, Prof. Mbang Femi-Oyewo, has urged research commercialisation and technology transfer to bridge gaps between academia and industry.

 

Femi-Oyewo made this call during Trinity University’s sixth Founder’s Day lecture, with the theme ‘Celebrating Legacy, Inspiring the Future’, held on Tuesday in Yaba, Lagos.

 

She emphasised the importance of infrastructure and technological advancement, urging universities to embrace digital transformation and form partnerships with technology-driven organisations.

 

“Implement Learning Management Systems to support online learning. Develop mobile apps for students to access materials, submit assignments, and interact with faculty effectively,” she said.

 

She further highlighted the need for modern facilities, research laboratories, and digital platforms, alongside training to help staff integrate technology and leadership principles into teaching.

 

Femi-Oyewo, a Trinity University Governing Council member, encouraged the institution to adopt innovative, technology-driven solutions to address challenges in contemporary university education.

 

She stressed that embracing the evolving higher education landscape is key to ensuring Total Quality Assurance and maintaining Trinity University’s academic brand.

 

In her remarks, UNILAG Vice-Chancellor, Prof. Folasade Ogunsola, urged institutions to generate relevant knowledge contributing meaningfully to national growth and development.

 

Ogunsola, who chaired the event, described research as a problem-solving mindset central to the university’s role, beyond just teaching responsibilities.

 

“Universities must generate contextual knowledge that helps solve real problems. We must teach, research, and engage with communities to stay relevant.

 

“By tackling real-world challenges, students learn and conduct meaningful research. Our purpose is to address society’s issues through practical inquiry.

 

“Research must serve communities—moving from ‘town to gown’. We must study real problems and develop practical, impactful solutions,” she said.

 

Ogunsola added that by urging TU to fulfil its mission as it enters its seventh year, using knowledge to advance Nigeria through technology and innovation.

 

Prof Clement Kolawole, TU Vice-Chancellor, expressed delight at the institution’s progress and appreciated Ogunsola’s support and guidance.

 

“In six years, we grew from 60 students and five staff to 1,800 students and around 130 staff members. We are grateful,” he said.

 

He noted that 18 academic programmes are now fully accredited by the National Universities Commission and relevant professional bodies, including Nursing and Medical Laboratory Councils.

 

Kolawole reaffirmed TU’s commitment to producing graduates of strong character, practical skills, and readiness to make positive change wherever they go.

 

The News Agency of Nigeria (NAN) reports that the event featured student performances, a choir, and orchestra presentations, among other engaging side attractions. (NAN) (www.nannews.ng)

 

Edited by Remi Koleoso / Kamal Tayo Oropo

China etches global impact in currency
Foreign

China etches global impact in currency

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By Busayo Onijala

 

A new book, Chinese Imprints on World Currency, highlights China’s growing global partnerships and infrastructure projects under the Belt and Road Initiative (BRI).

 

 

 

Launched on Monday in Beijing, the book showcases 121 coins and banknotes from 58 countries marking key Chinese-built infrastructure projects.

 

 

 

China’s Assistant Foreign Minister, Hong Lei, described the book as a tribute to the nation’s contributions and efforts toward a shared future for humanity.

 

 

 

“This collection highlights the achievements of Chinese enterprises and our commitment to a more connected and prosperous world,” Hong stated.

 

 

 

He added that through global infrastructure efforts, China promotes peace, prosperity, and long-term international cooperation.

 

 

 

The News Agency of Nigeria (NAN) reports that the book reflects three themes: large-scale construction, environmental protection, and diplomatic collaboration.

 

 

 

Author Du Xiaojian expressed pride in China’s impact and growing recognition on the global stage through cooperation and shared development.

 

 

 

“With China’s achievements and vision, the world becomes more deeply connected,” Du said during his address.

 

 

 

A key feature is the global currency collection showcasing infrastructure built by Chinese companies.

 

 

 

For instance, Jamaica’s 5,000-dollar banknote features the North-South highway, built by China Harbour Engineering Company.

 

 

 

Croatia’s 25-kuna 2022 commemorative coin displays the Pelješac Bridge, constructed by China Communications Construction Company (CCCC).

 

 

 

The bridge represents the largest transportation project since diplomatic ties were established between China and Croatia.

 

 

 

Sri Lanka’s 20-rupee note celebrates the Colombo Port project, jointly undertaken with China under the BRI.

 

 

 

CCCC President Wang Haihuai said the Colombo Port City project will generate 140,000 direct jobs, boosting Sri Lanka’s economy.

 

 

 

CCCC, one of China’s top international contractors, has worked in 158 countries, executing over 18 major global infrastructure projects.

 

 

 

Wang emphasised that these developments are more than physical works; they are economic lifelines for host nations.

 

 

 

“The appearance of Chinese-built infrastructure on world currency shows win-win cooperation and honours Chinese enterprise,” Wang remarked.

 

 

 

He added that these currencies symbolise China’s tangible investments and the mutual respect between partner countries.

 

 

 

Beyond infrastructure, Chinese firms also support education and talent development globally.

 

 

 

With nearly 90,000 overseas staff, CCCC has created thousands of jobs and sponsored over 400 students to study in China.

 

 

 

Wang noted that investing in people ensures lasting benefits for partner nations and their projects.

 

 

 

The event also reaffirmed China’s diplomatic values of peace, mutual respect, and non-interference in other nations’ internal affairs.

 

 

 

President Xi Jinping’s vision of multilateralism and inclusive development was echoed throughout the launch.

 

 

 

As China expands globally through the BRI, Global Development Initiative, and Global Security Initiative, the book highlights its leadership role.

 

 

 

NAN also reports that ambassadors from over 10 countries, including Sri Lanka and Egypt, attended the ceremony.

 

 

 

The envoys praised the BRI’s impact and pledged to strengthen people-to-people exchanges and cooperation with China. (NAN) (www.nannews.ng)

 

Edited by Kamal Oropo

Physicians advocate integrating mental health services in primary care
Health

Physicians advocate integrating mental health services in primary care

343 total views today

 

 

 

 

 

 

By Oluwafunke Ishola

 

 

 

The Society of Family Physicians of Nigeria (SOFPON) says integrating mental health services into primary care, through the efforts of family physicians, is crucial for improving mental health outcomes of patients.

 

Its President, Dr Blessing Chukwukelu, said this on Monday during a news conference in commemoration of World Family Doctor Day.

 

The World Family Doctor Day, celebrated globally on May 19, aims to highlight the vital role family doctors play in mental wellness, emphasising the interdependence between doctors’ well-being and ability to care for patients.

 

 

 

The theme of the 2025 celebration is “Building Mental Resilience in a Changing World”.

 

Chukwukelu noted that primary care, with its emphasis on long-term relationships, continuity of care, and a person-centred approach, is uniquely positioned to promote mental wellness.

 

She emphasised that integrating primary care aligned with the recommendations of the World Health Organisation (WHO) for low and middle-income countries like Nigeria, as a foundation for improving mental health outcomes.

 

According to her, this approach to care enables early diagnosis and treatment for mental health conditions before they escalate to crises.

 

 

 

“The burden of mental illness in Nigeria is substantial, a fact that is often obscured by the pervasive stigma that surrounds mental health issues.

 

 

 

“This stigma, this reluctance to acknowledge and address mental health challenges, prevents countless individuals from seeking the help they need.

 

“It leads to delay in diagnosis, hinders access to treatment, and it perpetuates a cycle of suffering that can have devastating consequences,” she said.

 

Chukwukelu highlighted that the shortage in the number of psychiatrists, a ratio put at one psychiatrist to 700,000 patients, was a major impediment to access specialised care, especially in rural and underserved areas.

 

 

 

The president noted that routine screening for mental health conditions in primary care settings is unmet due to the absence of standardised screening tools that are culturally appropriate for the Nigerian context.

 

 

 

She lamented that the situation is further complicated by the lack of adequate training in mental healthcare for primary care staff.

 

 

 

“This lack of training leaves a significant gap in the early identification and management of common mental disorders at the community level, where family physicians are often the only healthcare providers readily accessible.

 

“It is against this backdrop that the role of the family physician becomes even more critical.

 

“We, as family doctors, are strategically positioned to address these challenges, to bridge these gaps, and to make a tangible difference in the lives of those struggling with mental health conditions.

 

“As the first point of contact in the healthcare system, we have the opportunity to conduct initial mental health screening, using validated tools such as the General Health Questionnaire (GHO-12) or the Patient Health Questionnaire (PHO-9), which have been successfully piloted in some Nigerian primary care settings,” she said.

 

 

 

She emphasised that these screenings can help to identify individuals who may be at risk of mental health problems, allowing for early intervention and timely referral to specialised services when needed.

 

Chukwukelu noted that family doctors’ presence and proximity in communities allow them to raise awareness about mental health issues, reduce the stigma that surrounds it and encourage individuals to seek help without fear of judgment.

 

She added that through targeted training in mental health, family physicians acquire the skills and knowledge necessary to manage common mental disorders effectively.

 

“We are not just treating illnesses; we are caring for people. We are not just addressing symptoms; we are understanding the context of their lives.

 

“Life, as we all know, can be incredibly stressful and uncertain. Individuals everywhere are grappling with a wide range of challenges, from anxiety and depression to grief and the everyday pressures of modern life.

 

 

 

“Family Doctors, with their holistic understanding of their patients’ lives, are able to identify and address these challenges early, before they escalate into a full-blown crisis,” she said.

 

According to her, SOFPON is championing conversation from an unattainable idea of perfect mental health to one of building resilience, adaptability, and balance in an ever-changing world.

 

She acknowledged the challenges of mental health care, however, noted that they are surmountable through collaborating across sectors and harnessing the power of collective expertise.

 

 

 

“We can create a society that not only supports mental health but also fosters resilience, enabling individuals to live fulfilling lives, to reach their full potential, and to contribute meaningfully to their communities,” she said.

 

 

 

Similarly, Dr Sixtus Ozuomba, Lagos State Chairman of SOFPON, urged family doctors to prioritise their mental wellness to enable them to function effectively for their patients.

 

According to Ozuomba, doctors aren’t immuned to social and economic challenges, which could affect their mental health.

 

According to him, paying proper attention to mental well-being enables both doctors and patients to thrive together, creating a healthier and more resilient healthcare system.

 

He disclosed that SOFPON was collaborating with R-Jolad Hospital to celebrate the World Family Doctor’s Day with an awareness walk and free health outreach for the public. (NAN) (www.nannews.ng)

 

Edited by Vivian Ihechu

Bank CEO urges Africa to embrace value-added exports
Economy/Business

Bank CEO urges Africa to embrace value-added exports

202 total views today

 

 

 

 

By Taiye Olayemi

Mr Paul Abiagam, Chief Executive Officer (CEO) of Coronation Merchant Bank, has urged African nations to prioritise value-added products over raw material exports for continental economic growth.

Abiagam made the call in an interview with the News Agency of Nigeria (NAN) on Monday in Lagos.

He stated that Africa must strategically leverage partnerships and patient capital to drive development.

Abiagam emphasised the need for African countries to develop industrial policies that promote value addition, deepen capital markets, and attract aligned partnerships.

Citing examples from Côte d’Ivoire, Ghana, Benin, and Ethiopia, the expert highlighted successful initiatives that incentivise local processing and manufacturing, creating jobs and stabilising foreign exchange reserves.

He added, “Consider the cocoa sector, Côte d’Ivoire and Ghana, long known for exporting raw cocoa, are now advancing policies to incentivise local processing and manufacturing.

“Their objective is clear, which is transitioning from commodity exporters to value creators. These governments are compelling corporates to move further down the value chain to increase export revenues, create jobs, and stabilise forex reserves.

“This is not theory, it is economics. Processing cocoa at source retains more value and catalyses inclusive markets with significantly higher earnings potential.

“The Republic of Benin offers another example. Once primarily an exporter of raw cashew nuts to Vietnam, it is now taking decisive steps to process cashews locally.

“In Ethiopia, an ambitious industrial policy is positioning the country as a regional manufacturing hub, these are not isolated cases. They are signals of what is possible when policy, capital, and corporate resolve align.”

The CEO noted that in spite these strides, African countries continue to pay disproportionately high premiums to access capital.

Abiagam said that the challenges in accessing capital are due to high-risk premiums, macroeconomic volatility, and currency fluctuations.

He noted that African must realise that the cost of capital remains a stubborn barrier to industrialisation.

To address this, the expert advocated a new financial realism, anchored in value addition, strategic industrial hubs, and nuanced understanding of African markets.

He said that Africa could become a factory floor, processing powerhouse, and digital engine, but requires confidence, competence, and strategic partnerships to unlock its potential. (NAN) (www.nannews.ng)

 

Edited by Olawunmi Ashafa

Insurers unveil campaign on Third-Party Motor Insurance compliance
Economy/Business

Insurers unveil campaign on Third-Party Motor Insurance compliance

221 total views today

 

 

 

 

By Taiye Olayemi

 

 

 

Nigerian insurance companies on Monday initiated a comprehensive three-month public awareness campaign aimed at increasing compliance with mandatory third-party motor insurance regulations.

 

Mrs Ebelechukwu Nwachukwu, Chairman of the Sub-committee on Publicity, Insurance Industry Consultative Committee (IICC), made this known during the launch of the campaign on Monday in Lagos.

 

She said that the campaign aims to address the public’s knowledge gap regarding insurance policies.

 

According to her, it also meant to sensitise the public on the need to acquire authentic third-party motor insurance as well as deepen insurance penetration in Nigeria.

 

She said that the campaign which has the theme, “Third-Party Insurance Works, Get It, Use It”, remains a call to action.

 

“The National Insurance Commission (NAICOM) has done a lot of work to make sure that the enforcement of third-party motor insurance is successful. Now, the industry wants to respond to that by launching an awareness campaign on third-party for three months.

 

“Our main aim is to let people know that it is necessary to buy third-party motor insurance that is authentic.

 

“Also, it is also to let people know what the third party actually covers, to inform them about platforms where they can buy authentic third-party insurance. It will ensure that they know that every third-party certificate they carry has to be verifiable, along with the platforms where they can verify it.

 

“Again, in the course of our communication, we will let them know the price of third-party insurance.

 

“If third-party insurance is embraced, insurance penetration will increase significantly in Nigeria,” she said.

 

Nwachukwu noted that during the three-month campaign duration, four categories of media would be engaged: print, radio, digital, and out-of-home platforms.

 

She said the campaign, designed to be held in major cities like Lagos, Abuja, and Port Harcourt, among others, would be conducted in five languages: English, Pidgin, Yoruba, Hausa, and Igbo.

 

She explained that the committee is currently speaking with multiple agencies to see how further awareness could be created to ensure the policy is embraced.

 

She said that after the three-month campaign duration, the committee would organise a longer campaign to continue sensitising the public.

 

She said the public would be enlightened on the Economic Community of West African States (ECOWAS) aspect of the third-party motor insurance they possess.

 

She explained that the insurance policy could take a policyholder across all ECOWAS countries without necessarily getting the same policy in those countries.

 

Also speaking, Mr Segun Bankole, Chairman of the Corporate Affairs Managers Committee of the Nigerian Insurers Association (CAMCONIA), expressed the association’s commitment to amplifying the awareness campaign.

 

“The insurance industry is bedeviled with negative news; we need to make it work. Some Police officers also lack knowledge on what they are trying to make compulsory. So the awareness campaign is of great importance,” he said.

 

Meanwhile, Mr Ademola Abidogun, Managing Director of Guinea Insurance Plc, assured the media of the committee’s continued engagement.

 

Also, Mrs Bimbo Onakomaya, Managing Director of Peakthrust Insurance Brokers and a member of the committee, underscored the importance of the campaign, urging industry stakeholders to embrace it. (NAN)

 

Edited by Olawunmi Ashafa

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