General News
Stakeholders @ Bulkpost Forum Rue Dividend Warrants Conversion

Stakeholders at the Customers’ Forum organized by the Bulkpost venture, an outfit of the Nigeria Postal Service (NIPOST) have frowned at unethical practices in the industry, especially the emergence of conversion of dividend warrants.
Mallam Ibrahim Mori Baba, post-master general of the Federation (NIPOST) said that theme of the Forum: “Nipping in the Bud the Re-Emergence of Conversion of Dividend Warrants: The Role of the Bank,” demonstrated the aspiration of the Service to eliminate most of the hideous activities which make effective delivery of capital market mail very difficult, if not impossible.
“Our concern stems from the realization of that gone are the days when some government agencies rely upon monopoly to hide their inefficiency and poor performances,” he said.
He added the imperative is also culled from believe that competition has become a key characteristic in the global economy and that postal services operate within the global communication marketplace that is growing more competitive and diverse.
Bayo Olugbemi, managing director and chief executive officer, First Registrars and chairman of the occasion, identified that fraudulent practices in the financial industry has permeated other sectors like the postal and courier because they are important stakeholders, hence the need to nip in the bud the trajectory of the incidences.
He also called on the courier operators and the banks to embrace integrity and curb all miscellaneous fraud practices like manipulation of customers’ salary scheme, fraudulent liquidation o f customer’s investment, dry posting into staff account, and conversion of dividend warrants as well as the late delivery of services.
He added that NIPOST and the courier firms should hurriedly carry out “Know Your Customer” (KYC) report to update their delivery addressing systems.
Speaking on the theme, Mr. Paul Eluhaiwe, director, Development Finance Department, Central Bank of Nigeria (CBN), defined dividend as, “A payment made by a corporation to its shareholders, usually as a distribution of profits”. Therefore, it remains one of the key factors that drive market activities and aid investment decisions.
He said that despite the significance of dividends to investors, the stock of unclaimed dividends from the nation’s bourse reached N60bn in 2012 from N42bn in 2011; hence the knowledge of the magnitude of unclaimed dividends is one of the factors that caused the re-emergence of illegal conversion of dividend warrants.
Meanwhile, according to the Financial Institutions Training Centre (FITC) released report on frauds and forgeries in the Nigerian banking industry between July and September 2012, it received 59 returns from 22 deposit money banks in the 3rd Quarter of 2012. Of these, 20 were received for the month of July, 18 for August, and 21 for September.
“Analysis of these returns indicates that the banking industry reported a total of 1,501 cases of frauds and forgeries in the period under review from 1,103 cases reported in the preceding period,” he added.
Also speaking, Adeola Odetunde, presenting a paper on behalf of Mr. Ibrahim Lamorde, chairman of the Economic and Financial Crimes Commission (EFCC) reminded the attendees that a fair suit towards the fight of fraudulent conversion of dividend warrants, calls for strong institutional framework and integrity of staff.
According to him, the registrars have enormous responsibility to ensure that information relating to various stakeholders in their database are not leaked to fraudsters.
“Investigation into some reported cases of fraudulent conversion of dividend warrants has shown that, sometimes, the fraud was made possible because of compromise of stakeholder information in the database of the Registrar,” the EFCC chieftain said.
He added that market operators, banks, post offices and other critical stakeholders should be weary of the trends of the crime, impersonation and forgery and should aid the EFCC in trying culprits.
On his part, Dr. Mike Umo, general manager, Bulkpost Venture, and the Organizers of the Forum said that the Forum was conveyed for stakeholders to share their thoughts and suggestions on how to tackle to issue and other unwanted obstacles that have made business processes unsecured and unhealthy for the practitioners.
“It is a way to show that we care about the happenings in the industry. Nipping in the Bud the Re-Emergence of Fraudulent Convention of Dividend Warrant: the Role of the Bank, is a topic borne out of our desire to address some to the challenges we are having in the field. For instance, the Convention on Dividend Warrant (CDW) has been there; at a time, it was removed, all of a sudden the Convention reemerged. So we have been having challenges with different Registrars writing to us that a lot of customers are complaining they did not see their dividend warrant.
“In BulkPost we do not deliver mails. We only collect, flank and distribute them to Central Mail Processing Centers (CMPC). That is where our duties end. Whatever happens from that point we do not know. So when people started complaining we felt it is important we bring the topical issue to bear,” he explained.
General News
Interswitch Inducts 3rd Interns into Its Developer Academy

Interswitch, an integrated payments and digital commerce company, has announced the induction of the third and largest cohort of developer interns into its Developer Academy, reinforcing its long-standing commitment to building world-class technology talent and strengthening Africa’s digital ecosystem.

Selected from a pool of over 20,000 applications, the new cohort emerged through a rigorous multi-stage process involving technical assessments, and interviews. Their induction into the Developer Academy highlights both the scale of interest in software engineering opportunities in Nigeria and Interswitch’s role in nurturing the next generation of highly skilled technology professionals.
Commenting on the initiative, founder and Group Chief Executive Officer, Interswitch, Mitchell Elegbe, emphasised the importance of taking a long-term, ecosystem-driven approach to talent development.
“At Interswitch, we have always believed in the capacity to see beyond the immediate challenges and focus on long-term impact. While the migration of skilled talent remains a reality, our approach is to actively shape the outcomes by building a strong and sustainable pipeline of technology professionals.
“We are therefore committed to equipping individuals with the capabilities to contribute meaningfully to the broader technology ecosystem, locally and globally, not just for our own needs at Interswitch. In doing so, we are not only strengthening the industry but also reinforcing Nigeria’s position as a source of globally competitive engineering talent,” Elegbe said.
The 9-month programme brings together talents across key engineering tracks, including Backend Development, DevOps, Mobile Development, Frontend Engineering, and Quality Assurance.
Designed as an intensive and structured learning experience, the Developer Academy combines theoretical instruction with real-world application, equipping participants with the skills required to thrive in an increasingly global and competitive technology landscape.
Also commenting, Group Chief Human Resources Officer, Interswitch, Franklin Ali, said: “The Developer Academy reflects our long-term commitment to building talent at scale. We are equipping these young professionals not just with technical skills, but with the mindset, discipline, and adaptability required to thrive in diverse environments.
“Whether they build their careers within Interswitch, contribute to the local ecosystem, or explore global opportunities, they represent the strength and potential of Nigerian talent and carry forward the standard of excellence we are committed to building.”
General News
UK Reaffirms Commitment to Press Freedom, Science Journalism Training for Nigerian Media

United Kingdom has reaffirmed its commitment to supporting press freedom and strengthening science and technology journalism in Nigeria through a media training programme for journalists.

Speaking during the Advancing Press Freedom Through Science and Technology Journalism training organised by the UK Government, British Deputy High Commissioner to Nigeria, Jonny Baxter, said independent journalism remains essential to democratic societies and informed public debate.
Baxter, who hosted the journalists at his residence in Lagos, described the programme as part of the UK’s sustained engagement with Nigerian journalists, academia, and media stakeholders aimed at promoting ethical, evidence-based reporting.
“Strong, independent journalism is essential to democratic societies and informed public debate. That is why we take our relationship with the Nigerian media very seriously,” Baxter said.
He noted that the UK strongly supports freedom of expression and a free press, adding that the training programme was designed to equip Nigerian journalists with tools to interrogate data, challenge misinformation, and accurately communicate scientific and technological issues.
“In an age of rapid technological change, accurate, ethical, and evidence-based reporting has never been more essential,” he said.
Baxter highlighted previous training engagements held for Nigerian journalists in Abuja, Lagos, and the United Kingdom, noting that the latest programme builds on earlier workshops conducted in Portugal and London.
According to him, the initiative also reflects the UK’s commitment to deepening collaboration with Nigerian media professionals while improving public understanding of bilateral priorities such as economic growth, migration, and security cooperation.
He referenced the recent state visit of Nigerian President Bola Ahmed Tinubu to the UK as a major milestone in UK-Nigeria relations, stressing the importance of responsible media coverage during key diplomatic engagements.
“It was important for us to work closely with Nigerian media during the visit to ensure the public received accurate information while also helping hold all parties accountable to the commitments made,” he stated.
A panel discussion held during the event focused on challenges facing journalists in science and technology reporting, including misinformation, disinformation, access to reliable data, digital harassment, source protection, and legal risks.
Panelists noted that journalists face increasing pressure in a fast-paced digital media environment where algorithms often reward virality over factual accuracy.
They urged reporters to prioritise research, fact-checking, and verification while adopting practical digital security measures such as encrypting devices, password protection, and safeguarding confidential sources.
On misinformation and disinformation, panelists encouraged journalists to resist the pressure to publish unverified reports for speed or online traction.
“Don’t always rush to break news without verifying the facts. Trust is built through consistency, research, and cross-checking information,” one panelist advised.
The discussion also addressed concerns around Nigeria’s cyberstalking laws, with legal experts cautioning journalists to ensure all published information is factual, evidence-based, and defensible.
Participants were advised to maintain proper documentation trails, verify all claims, and avoid reliance on hearsay or unconfirmed digital content.
The training, organised in partnership with the School of Media and Communication, Pan-Atlantic University, is part of ongoing UK-backed efforts to strengthen journalism standards and media freedom in Nigeria.
Baxter encouraged participants to actively engage in the sessions and continue championing accountability journalism.
“Thank you for the work you do every day and for your commitment to advancing press freedom in Nigeria,” he said.
General News
FG Says It May Reject World Bank Loans over Delays

Dr Shamseldeen Ogunjimi, accountant-general of the federation, has warned that the federal government may reject loan facilities from the World Bank if delays in approval and disbursement persist, saying prolonged timelines could undermine the country’s willingness to proceed with such arrangements.

The warning was contained in a press statement issued on Friday by Bawa Mokwa, director of press and public relations at the office of the accountant-general of the federation.
Ogunjimi, who spoke in Abuja during a courtesy visit by a World Bank delegation led by Mrs Treed Lane, stressed that Nigeria expects timely processing of funding requests, given that the facilities are loans and not grants.
He said, “If approvals take more than six months, the Nigerian Government may no longer honour such arrangements,” highlighting concerns over bureaucratic delays in accessing development financing.
The AGF noted that as a responsible borrower, Nigeria should not be subjected to prolonged approval processes that could affect project execution timelines and broader development objectives.
He therefore urged the World Bank to “expedite the approval and disbursement of project funds to Nigeria” to support the country’s priorities.
Ogunjimi emphasised that the loans carry repayment obligations, making it imperative that disbursement processes align with project schedules and fiscal planning frameworks.
He further disclosed that the Office of the Accountant-General of the Federation had begun addressing key issues raised earlier by the World Bank, particularly in public financial management and audit reporting.
According to him, the 2023 Audit Report would be submitted to the Office of the Auditor-General for the Federation within two weeks, while work on the 2024 and 2025 audit reports was already underway.
The AGF also assured the delegation that steps were being taken to resolve concerns around the digitalisation of the Government Integrated Financial Management Information System, noting that obsolete infrastructure was being replaced with modern technology to improve efficiency and service delivery.
He said the reforms were part of broader efforts to strengthen transparency, accountability, and the overall public financial management system in Nigeria.
Earlier in her remarks, the World Bank delegation leader, congratulated Ogunjimi on his recent appointment as African chairman of the Association of Accountants-General.
Lane also urged the Office of the Accountant-General to sustain its digitalisation drive and ensure the timely presentation of financial statements to the Auditor-General, noting that such measures were critical to achieving seamless public financial management processes.
The World Bank earlier explained why about six loans worth $2bn, signed for Nigeria in 2024, are yet to be disbursed nearly a year after the bank’s approval.
This came amid recent reports that the World Bank approved a total of $8.40bn (N12.89tn) in fresh loans to the country over the past two years, based on data from the bank’s official website.
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