NEWS AGENCY OF NIGERIA
Lagos MSME tripartite agreement to spur finance access for entrepreneurs – BoI
Economy/Business

Lagos MSME tripartite agreement to spur finance access for entrepreneurs – BoI

238 total views today

By Rukayat Moisemhe and Aderonke Ojediran

The Managing Director, Bank of Industry (BoI), Dr Olasupo Olusi, has described its tripartite agreement with the Lagos State Government and Sterling Bank Plc’s Micro, Small and Medium Enterprises (MSMEs) as a new chapter for entrepreneurs in the state.

Olusi said this at the signing of the Memorandum Of Understanding (MOU) of the Lagos State Access to Finance for SMEs through Cooperatives on Wednesday in Lagos.

He said the development would spur access, opportunity and inclusion for entrepreneurs in Lagos.

The News Agency of Nigeria (NAN) reports that the development comes as a groundbreaking partnership bringing together the public and private sectors in a shared mission to empower entrepreneurs.

Olusi stated that the strategic initiative would enhance the potential of Lagos’ MSMEs by dismantling structural barriers that had long constrained access to opportunity.

Olusi revealed that BoI currently had over N500 billion in investment footprints across Lagos State, which was more than any other state in Nigeria.

This development, he asserted, reflected the bank’s longstanding confidence in the energy, resilience and entrepreneurial spirit of the Lagos people.

“This strategic effort will unlock the creativity, resilience, and potential of Lagos’ MSMEs by dismantling the structural barriers that have long constrained access to opportunity.

“At the Bank of Industry, we believe MSMEs are the engine of economic growth; driving innovation, creating jobs, and expanding opportunities.

“However, we also know that without access to finance, their potential remains limited.

“This is why the Government of President Bola Tinubu is focused on delivering access to financeto the MSME segment of Nigerian enterprises and this programme is designed to change that,” he said.

Olusi said the MSME scheme targeted key sectors central to Lagos State’s development including healthcare, manufacturing, agribusiness, creative industries and the digital economy.

He, however, stressed that beyond the funding, the programme aimed to support the entire working ecosystem built for success.

He stated that the initiative was fully technology-driven, from application to disbursement, ensuring speed, transparency, and real-time impact tracking.

He added that up to 50 per cent of the fund was backed by a bank guarantee, therefore de-risking the lending process and building stakeholder confidence.

Olusi said that access to the funds would be facilitated through certified cooperatives, which will ensure structure, trust, and accountability.

“Finally, there is an accelerator programme, offering MSMEs mentorship, training, and digital tools to help them grow and compete.

“At the heart of it all is accessibility as under this scheme, MSMEs can access up to N10 million at a single-digit interest rate of nine per cent per annum, without collateral.

“This removes one of the biggest obstacles facing small businesses and brings inclusive finance within real reach. It’s an approach backed by experience.

“The N10 billion fund is the first partof a scalable, performance-based agreement and as goals are met, the fund can grow, fostering continuous growth and empowerment,” he said.

The Governor of Lagos State, Mr Babajide Sanwo-Olu, in his remarks, lauded the BoI and Sterling Bank for the partnership.

Sanwo-Olu charged beneficiaries to use the funding to grow their businesses, repay on schedule to engender more access to funding opportunities.

He reiterated the state government’s commitment to creating an environment that supported the growth and development of MSMEs.(NAN)(www.nannews.ng)

Edited by Chinyere Joel-Nwokeoma

Touray decries Nigeria-Bénin border infrastructure decay
Foreign

Touray decries Nigeria-Bénin border infrastructure decay

224 total views today

 

By Mark Longyen

ECOWAS President, Dr Omar Touray, has decried the deplorable state of infrastructure at the Nigeria-Bénin Republic Seme border, in spite of the huge investment in them by ECOWAS.

 

The President stated this during an official on-the-spot assessment visit to the Nigeria–Lagos Seme Border, which is one of West Africa’s busiest and most strategic corridors.

 

The News Agency of Nigeria (NAN) reports that the visit was aimed at assessing how the ECOWAS Protocol on Free Movement of Goods and Services was being implemented and identify obstacles.

 

Touray called for urgent reforms to safeguard the region’s free movement protocol, and pledged to deliver a full report and recommendations toward addressing the decadence and removing all cross-border obstacles.

 

The Commission’s president also called on border security officials and national authorities to align more closely with ECOWAS protocols.

 

“This is one of the busiest and most strategic border posts in West Africa, yet, we are faced with expensive facilities; scanners, lighting systems, and bridges that are simply not working. That is unacceptable.

 

“We cannot justify millions spent on equipment that lies idle. Our citizens expect results, not excuses.

 

“If a lightbulb goes out, ECOWAS should not be called to replace it. Member states must step up and take ownership,” he said.

 

According to him, while ECOWAS is responsible for initiating infrastructure, the responsibility for maintenance lies with individual member states.

 

Touray also decried the proliferation of checkpoints within member countries, arguing that it contradicted the spirit of ECOWAS free movement protocol.

 

“Why do we have multiple customs and immigration posts for the same corridor?

 

“It frustrates travellers, delays trade, and creates opportunities for corruption,” he said.

 

The Commission’s president demanded transparency, and urged officials to crack down on unofficial payments.

 

“We have received troubling reports of citizens being asked to pay without receipts.

 

“This damages trust. If any fee is legitimate, it must be receipted. Period!,” he stressed.

 

He further clarified that the protocol on free movement under the ECOWAS Trade Liberalisation Scheme (ETLS) does not eliminate the need for proper documentation.

 

“Free movement does not mean no documentation; free movement does not mean a free-for-all.

 

“The appropriate identity papers, security checks, and customs procedures remain necessary to balance openness with safety and order.

 

“Our people must understand that they need valid identification to travel. Security and freedom must go hand in hand,” he said.

 

Dr Ben Oramalugo, Comptroller of Customs, Nigeria Customs Service, Lagos-Seme Border, while briefing the President earlier, enumerated the challenges faced by the command.

 

“We have scanners installed, but they are not working. Since I reported here on February 12, they have remained non-functional. These scanners can detect things human eyes cannot.

 

“When you inspect cargo manually, you might miss drugs or dangerous goods hidden deep inside. We need your help to get these scanners working again.

 

“There is also no light in the pedestrian passage, and criminals take over the area at night. There is no roofing for those passing through, and we do not have water in the offices.

 

“Every morning, labourers fetch water in jerrycans just so we can function. This isn’t acceptable for such a significant facility,” Oramalugo said.

 

Oramalugo said that there is no electricity at all in Seme Border as it is not connected to the National Grid, so they depend entirely on electricity from Benin and whenever their power goes out, they are left in total darkness.

 

“This is Nigeria’s number one border, connecting the entire Francophone region, yet we are not connected to the National Grid.

 

“This road tells the story of Nigeria. What people see here reflects on all of us,” he said.

 

The senior customs officer also decried the plethora of checkpoints on the international corridor.

 

“From here to Badagry, I have ensured there are only three customs checkpoints.

 

“But there are still too many from other agencies. I appeal to you, let us enforce a maximum of three checkpoints total,” he said.

 

Also speaking, Nigeria’s Permanent Representative to ECOWAS, Amb. Musa Nuhu, who was on the president’s entourage, said that the Seme border was critical to the ECOWAS free movement protocol.

 

According to him, the challenges of infrastructure decay, overlapping security checks, and operational bottlenecks raised by border officials highlighted the gap between policy and implementation.

 

“This is the busiest border in West Africa, in terms of passage of goods, people, and services, and if free movement is working in West Africa, it is in this border that we will be able to find out.

 

“It’s good that they mentioned these issues for you to really understand practically what is happening along this very important border,” the ambassador said.

 

He disclosed that President Bola Tinubu recently approved the setting up of a Presidential Task Force to dismantle multiple checkpoints in the country.

 

“That committee has been set up under the authority of the Secretary to the Government of the Federation, and we will soon start working to address this issue,” he said.

 

NAN also reports that the visit enabled Touray to engage directly with community citizens on both sides, security operatives, and commuters, for him to understand the realities on ground.(NAN)(www.nannews.ng)

Edited by Ismail Abdulaziz

NIESV seeks review of land, housing policies
Metro

NIESV seeks review of land, housing policies

205 total views today

By Angela Atabo

The Nigerian Institute of Estate Surveyors and Valuers (NIESV) has called for an overhaul of the Land Use Act and National Housing Policy.

NIESV President and Chairman of Council, Victor Alonge, made the call on Wednesday at a news conference during the institution’s 55th annual conference in Abuja.

Alonge said the Land Use Act, in place since 1978, is outdated and needs review to expand land access and spur real estate development.

He noted land should be more accessible to all Nigerians, not just wealthy developers who often acquire vast portions of land.

“The masses struggle to access land. The Act should be reviewed, and the land administration system revisited,” he said.

Alonge also highlighted the need to revisit the National Housing Policy to tackle persistent challenges in the housing sector.

He stated that affordable housing delivery requires a multi-sector approach and deliberate policymaking with input from professionals.

He observed that housing policies often lack clarity, leading to confusion in their implementation.

According to him, affordable housing and social housing are frequently misunderstood as being the same.

He said many so-called affordable homes remain unaffordable for low-income earners.

“There is poor understanding and weak policy design around affordable housing. Nigeria lacks a proper social housing system,” he said.

Alonge explained that social housing typically serves workers like nurses and teachers, providing homes in central or high-value locations.

He said other countries offer city-centre homes to key workers through targeted policies, allowing them to live among the affluent.

Alonge also backed punitive taxation on vacant properties to compel owners to rent or occupy them.

“In advanced economies, empty homes are heavily taxed to discourage leaving them unused.

“If faced with high taxes on an empty house, owners would likely reconsider keeping it vacant,” Alonge added. (NAN)

Edited by Kamal Tayo Oropo

NOUN strategises to strengthen open, distance learning
Education

NOUN strategises to strengthen open, distance learning

256 total views today

By Emmanuel Afonne

The Deputy Vice-Chancellor, Academics, National Open University of Nigeria (NOUN), Prof. Chiedu Mafiana, says the institution is re-strategising to strengthen its Open and Distance Learning (ODL) pattern of education.

Mafiana said this in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja.

He noted that other universities under the auspices of Open, Distance and e-Learning Association of Nigeria (ODeLAN) would be carried along.

Mafiana said ODeLAN would collaborate with NOUN to strengthen the field of the ODL, using adaptive technologies.

“This is the reason we have decided to hold the third edition of the ODeLAN International Conference in Nigeria, from May 14 to May 16, 2025 at the Conference Centre, NOUN Headquarters, Abuja.

“The theme of the conference is Adaptive Pedagogies for the Future of Education: Connecting Learners, Technologies and Communities,” Mafiana said.

Mafiana, who doubles as the Chairman, Local Organising Committee for the conference, said participants are expected to explore innovative open educational approaches and models for shaping the future of learning in African contexts across all educational levels.

He said the annual conference would also explore practical, engaging approaches to connect learners, technologies and communities for a brighter educational future.

Mafiana said the event would witness the convergence of educators, academics, researchers and practitioners from universities, polytechnics, colleges of education and pre-tertiary levels.

He added that policy makers, industry professionals, government agency representatives and the general public would participate in the event.

Mafiana said the conference would feature paper presentations, panel discussions and workshops, with focus on emerging trends, challenges, and opportunities in open, distance, and e-learning.

“Prof. Peter Scott, President Commonwealth of Learning, Canada; Prof. Mpine Makoe, Executive Dean College of Education, University of South Africa and Prof. Tayo Arulogun, Vice-Chancellor, Miva Open University, Abuja Nigeria, are the keynote speakers,” he said.

It would be recalled that the first series of the international conference was held at Babcock University, Ilishan-Remo, Ogun, in 2023 with the theme, “Global Spaces, Local Contexts: Digital Transformations and Creative Innovations in Open Distance and e-learning “.

The second edition was held at the Ahmadu Bello University, Zaria in 2024 with the theme: “Inclusive Digital Learning Ecosystems in Open, Distance and e-learning Education”. (NAN)(www.nannews.ng)

Edited by Chinyere Joel-Nwokeoma

Nigeria to scale-up fight against sickle cell disease
Health

Nigeria to scale-up fight against sickle cell disease

231 total views today

By Abigael Joshua

The Global Congress on Sickle Cell Disease has reaffirmed its commitment to intensifying the fight against sickle cell disease (SCD) in Nigeria.

Prof. Obiageli Nnodu the Local Organising Committee Chairperson of the Global Congress on Sickle Cell Disease (SCD) said this in an interview with the News Agency of Nigeria (NAN).

“As the nation with the highest prevalence of sickle cell disease, Nigeria stands at the forefront of the global fight against the disease.

“Sickle Cell Disease is a global health challenge that affects an estimated 7.7 million people worldwide, according to World Health Organisation (WHO).

“Nigeria alone bears a significant burden, with four to six million people living with the condition and many more carrying the sickle cell trait,” she said.

According to her, the Global Congress on Sickle Cell Disease will hold in Abuja from June 3 to June 6.

“The congress aims to foster collaboration, drive innovation, and spotlight effective solutions for managing and ultimately eradicating SCD.

“The congress will bring again more attention to the burden of Sickle Cell Disease in Africa especially Nigeria that accounts for the world largest number of people leaving with the burden globally.

 “We’re excited to host the Global Congress on Sickle Cell Disease at this time in Africa! This prestigious event first came to Africa in 2010 in Ghana.

“This year, we’re expecting over 500 participants from around the world, including Nigeria,” she said.

She noted that the lineup of world-renowned speakers will be showcased daily on their social media platforms.

“We are proud to have the support of the Ministry of Health and we are working closely with the Global Sickle Cell Disease Network.

“We are also partnering with Novo-Nordisk, Novartis, Revvity, Pfizer, Pierre Fabre Foundations, the American Society of Hematology and Bond Chemical Industry Ltd and the Centre for Communication and Social Impact.

“The congress will bring together healthcare professionals, researchers, patients, families, caregivers, advocates, industry leaders, and policymakers from across the world,” she said.

Nnodu said that the congress will feature latest research findings, innovative treatments and therapies on Sickle Cell Disease.

NAN reports that the Global Congress on Sickle Cell Disease is a world-renowned conference that brings together individuals and organisations from around the world to discuss and advance the understanding, treatment, and support for people living with SCD. (NAN)(www.nannews.ng)

Edited by Muhyideen Jimoh

Soludo empowers “1 Million Anambra Digital Tribe” on Tech skills
General News

Soludo empowers “1 Million Anambra Digital Tribe” on Tech skills

292 total views today

By Funmilayo Adeyemi
Anambra State Governor, Charles Soludo, has unveiled the “1 Million Anambra Digital Tribe” (1MADT), an initiative designed to empower no fewer than one million “Ndi Anambra” – Anambra people, with world-class digital skills.

This is an initiative through the Solution Innovation District (SID), toward transforming Anambra into Africa’s Silicon Valley and a Smart Mega City.

This is contained in a statement made on  Wednesday by Ms Chinwe Okoli, Special Adviser to the Governor on Innovation and Business Incubation.

According to Okoli, the ground-breaking programme aims to democratise access to digital education by providing free, high-quality digital skills training to over one million Ndi Anambra, both residents and indigenes.

” At the heart of the initiative is the SID Academy – a robust Learning Management System (LMS) accessible via www.sidacademy.ng, where participants can learn anytime, anywhere, at their own pace.

“Designed to be inclusive and transformative, 1MADT offers 32 beginner to advanced courses in high-demand digital fields such as artificial intelligence, cloud computing, SEO optimisation, web design, data analysis, graphic design, digital marketing, and more.

“It is with flexible training durations ranging from four to 12 weeks.

“No prior experience or qualifications are required, making it accessible to everyone- from students and job seekers to professionals and entrepreneurs,” she said.

She added that the benefits of this initiative extend far beyond individual learners, but equipping Anambra’s workforce with future-ready skills.

Okoli also said that the 1MADT had been designed to drive job creation, inspire innovation, fuel entrepreneurship, enhance SME productivity, and position the state as a magnet for global technology investments.

“Mr Governor promised to upskill 10,000 persons annually but has already surpassed that number.

“With a new target of one million, the goal is to eradicate digital illiteracy and unlock the potential of our people to compete favourably with technology.

“Mr Governor is developing 13.7 hectares as our Silicon Valley and investing in the skill sets required to compete globally. This programme is for all Ndi Anambra—and it is totally free to beneficiaries.

“There are even additional incentives such as laptops and smartphones to celebrate excellence,” she said.

She added that the initiative supported the Governor’s broader vision of economic transformation through digital empowerment and innovation-driven development.

“In line with this vision, SID is also deploying SID Mini Hubs/partner centres which are tech-enabled learning centres strategically located in schools and communities across the state.

“These hubs are outfitted with computers, internet access, projectors, and teleconferencing tools to ensure equitable access to digital resources, especially in underserved areas. (NAN)

Edited by Vivian Ihechu

Agriculture: Expert lauds Gombe governor’s rural roads initiative
Agriculture

Agriculture: Expert lauds Gombe governor’s rural roads initiative

350 total views today

By Peter Uwumarogie

Dr Musa Arab, an expert in Agricultural Extension and Rural Development, has praised Gov. Inuwa Yahaya of Gombe State for investing in rural road construction.

Arab gave the commendation during an interview with the News Agency of Nigeria (NAN) in Gombe on Wednesday, highlighting the importance of rural roads to food security.

He explained that rural roads are vital for agricultural development, as they serve as crucial links between farmers and urban markets.

According to Arab, the Yahaya-led administration has prioritised rural road construction, which has significantly supported the state’s agriculture sector.

He noted that post-harvest losses have been greatly reduced, and farmers can now access urban markets more easily.

“The rural road construction by this administration has been impressive, positively impacting livelihoods and advancing agricultural growth in the state,” he said.

He added that rural infrastructure contributes to economic activity, food production, market access, and the overall welfare of rural populations.

Arab stated that the new roads have boosted agricultural output and improved rural living standards across various communities.

He said the improved road network has cut transport costs, enhanced market access, and increased availability of farm inputs like fertilisers and seeds.

Arab also said the good roads have helped raise farmers’ incomes by reducing losses and expanding sales opportunities, thus lowering poverty in rural areas.

He recalled that in the past, poor roads made it difficult for farmers to access support, training, and interventions outside their communities.

Arab urged the government to continue constructing roads to link more communities to markets and unlock the state’s vast agricultural potential. (NAN) (www.nannews.ng)

Edited by Kamal Tayo Oropo

FG pushes phytomedicine for economic, health boost
Health

FG pushes phytomedicine for economic, health boost

239 total views today

By Abujah Racheal

The Federal Government has launched a strategic initiative aimed at diversifying the economy and advancing healthcare innovation.

The move seeks to unlock the economic and therapeutic potential of Nigeria’s rich biodiversity through the development of the phytomedicine value chain.

Dr Iziaq Adekunle Salako, Minister of State for Health and Social Welfare, in Abuja, inaugurated a ministerial committee to drive the initiative.

Salako stated that the country stood at the threshold of transforming its vast reservoir of medicinal plants into a dynamic source of economic growth and improved healthcare delivery.

He emphasised that while Nigerian communities had long relied on medicinal plants for traditional healing, the resources had yet to be fully harnessed to benefit the broader economy and health system.

The new Phytomedicine Value Chain Initiative, he noted, was designed to shift the narrative by integrating traditional medicine into formal economic and healthcare structures.

“This initiative is both a health and socio-economic policy.

“It supports the administration’s broader goals of achieving Universal Health Coverage, creating jobs, and driving economic diversification,” Salako said.

According to him, commercialising Nigeria’s phytomedicine sector will generate employment in areas such as plant conservation, cultivation, harvesting, and industrial-scale production of herbal medicinal products.

This, he added, would enable the country to claim its share in the rapidly expanding global phytomedicine market.

“A key component of the initiative is the newly inaugurated ministerial committee.

“It is tasked with developing a comprehensive commercialisation framework, proposing policy reforms, and establishing robust regulatory systems to ensure safety, efficacy, and a conducive business environment,” he said.

Also speaking at the event, Dr Obi Adigwe, Director General of the National Institute for Pharmaceutical Research and Development (NIPRD), underscored the urgency of Nigeria’s active participation in the nearly 500 million dollars global phytomedicine industry.

“For a country blessed with such a wealth of natural resources, continued underrepresentation in this market is no longer acceptable,” Adigwe said.

He highlighted that recent presidential policies, such as the Presidential Initiative to Unlock Value Chains and the Executive Order on Pharma and Allied Sectors, had created the enabling environment needed for significant progress.

Adigwe said that NIPRD had laid a solid foundation through years of research and evidence-based strategies, adding that it was to scale up and bring Nigerian phytomedicines to both domestic and international markets.

The News Agency of Nigeria (NAN) reports that phytomedicine refers to medicinal products derived from plants and plant extracts such as roots and barks.

They are used in the prevention, treatment, and management of various diseases such as malaria and diabetes.

In Nigeria, several plants are used in traditional medicine and are gaining recognition for their commercial and therapeutic potential.

Common examples include neem leaf extract for the treatment of ulcer and bitter leaf and scent leaf for the management of respiratory conditions.

Globally, phytomedicines such as Echinacea and Ginseng are recognised for their immune-boosting and energy-enhancing effects, highlighting the immense opportunities for integrating traditional remedies into modern healthcare and economic systems. (NAN)(www.nannews.ng)

Edited by Abiemwense Moru

Don urges state govts, others to support Tinubu’s tax reform
General News

Don urges state govts, others to support Tinubu’s tax reform

239 total views today

By Collins Yakubu-Hammer

A university lecturer, Prof. Godwin Oyedokun, has called on state governments in the country and other stakeholders to support the tax reform of President Bola Tinubu to bring prosperity to Nigeria.

Oyedokun made the call at the 2025 Award of Excellence organised by the Society of Women in Taxation (SWIT), FCT Chapter on Wednesday in Abuja.

Oyedokun, who lectures at the Department of Accounting and Financial Development, Lead City University, Ibadan, said the tax reform initiated by the President was one of the best things that had happened in Nigeria.

“I am not a fan of any government, but when government gets its right, I will say it; and if they do not, I will say it.

“The content of the bill is better than what we have currently. So, I want everybody to support the reform.

“State governments, lower income earner and others will benefit massively from the Tinubu’s tax reform, because it will bring them out of unnecessary taxes, and thus, we no longer need to tax poverty.

“Prosperity will come and government will also gain from it. And you could see incentive for companies, start-up companies, informal sector and entrepreneurs will now be able to do well.

“When it comes to harmonisation of taxes in Nigeria, this bill will ensure that we have it. There will no longer be anything like touting in tax arena.

“Apart from that, all the different pockets of tax law that we have around will now be codified and made as just one textbook where each chapter contains each of the tax laws,” Oyedokun said.

Oyedokun, who was one of the awardees, explained that if the tax reform bill scaled through, it would also make state governments deliver more dividends of democracy to their people.

Meanwhile, the National Coordinator of SWIT, Dr Bosede Ikanoba said the essence of the 2025 Award of Excellence was to recognise the deserving individuals and their contributions to professionalism and SWIT.

“When you give awards and recognition to deserving individuals, you are recognising their contributions for professionalism, their skills, talents, excellence and contributions in making the society greater.

“They’ve given support financially to the society. They’ve contributed to building capacity of our members. And so, they are quite deserving of this award today.

“It’s a good thing because, it will further motivate others, you know, to see that they also do their own bit and contribute to the society,” Ikanoba said.

Also, the Coordinator of SWIT, Abuja Chapter, Mrs Biola Saliu, said the event was to mark the end of her tenure that started about two years ago.

“There is nothing that you can do all alone. There are people that have been there for me, who supported me and who made me to achieve the little that I was able to achieve.

“So, therefore, I decided to recognise them just as it’s being said that when you say thank you to somebody, you have pushed the person to do more for you. So that’s the purpose of organising this event.

“I will advise the person that will take over from me to build on the legacy that has been laid and to make sure that it’s improved upon because there is always room for improvement.

“The purpose of learning is for you to improve on what your teacher has taught you. So, she is supposed to be able to perform better than what I have done,” Saliu said.

The News Agency of Nigeria (NAN) reports that about 20 persons bagged the SWIT awards for excellence. (NAN)(www.nannews.ng)

Edited by Joe Idika

CFG Africa introduces Naira fixed income fund  
Business

CFG Africa introduces Naira fixed income fund  

255 total views today

 

By Olawunmi Ashafa

 

As a response to the growing need for stable and reliable investment opportunities in the nation’s dynamic economic landscape, CFG Africa has introduced the GFG AM Naira Fixed Income Fund.

 

The launch event, which took place in Lagos on Wednesday, gathered key stakeholders, investors, and the CFG Africa leadership team.

 

The CFG AM Naira Fixed Income Fund is a managed open-ended unit trust scheme designed to provide investors with investment liquidity, diversification, and competitive returns through investments in high-quality Naira-denominated fixed income securities.

 

This fund is tailored for individuals, corporates, high net worth investors, and institutions seeking stable and reliable investment growth.

 

Speaking during the launch, Mr Babajide Lawani, the Managing Director of CFG Africa Ltd., emphasised the strategic importance of the Fund.

 

“The introduction of the CFG AM Naira Fixed Income Fund is a deliberate step in expanding our capacity to serve a broader spectrum of investors.

 

“It allows us to channel capital into stable, Naira-denominated assets, contributing to a more resilient and inclusive financial market in Nigeria.

 

“This launch demonstrates our proactive approach to addressing market dynamics and providing solutions that meet the long-term investment goals of our clients.

 

“We believe this fund offers a crucial avenue for Nigerians to participate in stable investment opportunities, contributing to their financial well-being and the broader economic landscape.”

 

Also, Mr Adedoyin Wilson-Diamond, Chief Investment Officer of CFG Africa Ltd., added, “In a dynamic economic environment, preserving capital and achieving consistent returns are paramount.

 

“The CFG AM Naira Fixed Income Fund has been meticulously structured to navigate market fluctuations and deliver competitive yields through prudent investment in quality Naira-denominated assets.

 

“Our active management approach will ensure we capitalise on opportunities while effectively managing risk,” he said.

 

CFG Africa views the current macroeconomic landscape as an opportune moment to introduce such a fund, providing a hedge against volatility while offering consistent returns.

 

The fund’s assets will be held by an independent custodian, Rand Merchant Bank Ltd., with AVA Trustees Ltd. acting as the independent trustee, ensuring the highest standards of security and governance.

 

CFG Africa remains committed to providing innovative and accessible financial solutions that empower individuals and institutions to achieve their financial goals. (NAN)

 

Edited by Folasade Adeniran

X
Welcome to NAN
Need help? Choose an option below and let me be your assistant.
Email SubscriptionSite SearchSend Us Email