News
Youth Groups, 9 NGOs Honour New Horizons CEO For Youth Empowerment

Mr. Tim Akano. the CEO of New Horizons Nigeria, has been honoured by Nigerian youths for his relentless commitment and unparalleled passion for youths’ empowerment.

The nine groups with over 60 million strong memberships cut across Nigeria, Africa and in diaspora came through their representatives to recognise and honour the CEO with various awards at New Horizons Head office in Lagos.
Among the groups are the National Association of Polytechnic Students (NAPS), Northern Nigeria Students (ANNS), Nigeria Youth Representative Council (NYRC), Coalition of Nigerian Young Patriots (CNYP), Nigerian Youths Initiative for Peace and Good Governance (NYIPGG), Students Coalition Rebirth of Nigeria (SCRN), Inter-Faith Youth Council of Nigeria (IFYCN), National Association of Mathematical Science Students of Nigeria(NAMSSN) and League of African Development Students (LEAD Africa).
Recently, the federal government of Nigeria named Akano as Nigeria’s Icon of Youth Empowerment through the National Youth Service Corps (NYSC) Skills Acquisitions and Empowerment Department (SAED).
Similarly, over 120 national, continental and international organisations including the Students Union Council (Nigeria Universities Students), Northern Youth Council, Oodua Youths Parliament, Trans Africa Youth Initiatives (TAYI) and Nigeria Committee of Vice-Chancellors have conferred different honours in appreciation of his contributions to mankind.
Speaking for the Association of Northern Nigeria Students( ANNS), the national secretary, Amb. Nafiu Danlami, said, “We want to appreciate you for what you have been doing for Nigerian and African youths. You have given us a better platform to showcase Africa to the world through what we produce on the continent and also earn money from it.
“With this, I am challenging everyone that we can make Nigeria a force to be reckoned with again because you are a man of substance and we encourage you to leave your comfort zone and seek political office to liberate the youth from the shackles of poverty”
Also speaking, the president of the National Association of Polytechnic Students (NAPS), Sunday Asuku said Akano has proven that he has the interest of the youth at heart even when the leaders of the country are not looking at the youth.
“I want to tell you that you have rekindled our hope with all you are doing for us and we are glad. So, on behalf of 20 million Nigerian students home and abroad, we honour you with the most prestigious NAPS award, The 2022 Beacon of Hope award, which is given yearly to just one most outstanding Nigerian,” he said.
Vice President, Inter-Faith Youth Council of Nigeria (IFYCN), Daniel Friday, on his part, said: “We are here to honour Tim Akano with the Ambassador of Peace Award because we see him as a leader with an innovative mind and the impact he has made in the lives of youths that once took to violence but now living in peace with others. We appreciate him for that.”
Receiving the awards from the groups, an elated Akano said he appreciated the thoughts and the thinking that went into it and assured them that it would challenge him to do more. He said many people have seen the work his company has been doing to transform the lives of youth and this prompted them to give him the awards.
Akano, however, said he was not doing it because of the recognition but narrated a story of how he met a Nigerian graduate refugee graduate seeking employment many years ago in Switzerland which challenged him to stand in the gap for millions of Nigerian youths who need help and mentorship to identify their talents and guide them to success.
“Over the last two years, I have been receiving dozens of awards from all over the world, and they [these groups] validate the decision I made 18 years ago to leave my job at Coca-Cola and dedicate my life to youth empowerment. I do not do it for the recognition, but it feels good to know that we are truly making an impact in the lives of these young people”
“This forms the imperative of the establishment of One Africa Initiatives Academy where we Mentor African youths from over 50 countries worldwide. The soon-to-be-unveiled FABAAW is the platform set up to bring prosperity to Africa, especially to the youth. With FABAAW, African youths can network, showcase their talents and do genuine businesses with the global community on mutually beneficial terms, better terms than what is obtainable today on e-commerce and social media platforms”
The New Horizons Nigeria CEO believes that poverty and unemployment are Africa’s twin problems. “Our problems in Africa are the same. Go to Uganda, South Africa, or Nigeria it is the same. Africa has the largest unemployment rate in the world”
Akano said across the globe, African people are known for going to school, graduating and earning certificates. “If you want to be successful in life today, the youth need 4th Industrial skills in Data Science, Cloud Architect, Big Data, and Artificial Intelligence, among others.
“For instance, India’s raw materials are its population and it decided to develop along software line. China toed the line of manufacturing, Israeli owns military security, and Germans are known for their machinery. So for us in Africa, what we can bring to the table that would make our youth prosperous are 4.0 skills.”
He said there is a solution to every problem and the solution to this present generation’s problem is knowing how to use technology to solve the poverty problem, using the newly created FABAAW platform due to be launched in July.
“I have committed the rest of my life to concentrate on the transformation of Africa by raising and grooming the Youths that will take Africa to the promised land before 2063,” concluded Akano.
News
NGX Unveils Net-Zero Plan for Greener Capital Market

Nigerian Exchange Limited (NGX) has launched the NGX Net-Zero Programme to guide listed companies toward clear carbon reduction pathways and enhanced climate disclosures aligned with global investor standards.

NGX
The high-level launch engaged chief executives of quoted firms alongside development partners including German Investment Corporation KfW, DEG, and African Foresight Group (AFG), NGX’s implementation partner. Issuers and investors discussed financing decarbonisation, sustainability practices, and attracting climate-aligned capital.
NGX Group Chairman Dr Umaru Kwairanga described the initiative as concrete climate action, commending partners for two years of groundwork. “Today marks leadership and decisive action. Climate change has become a core business imperative, with capital markets mobilising capital and setting standards,” Kwairanga said.
He positioned NGX Net-Zero to support emissions measurement, disclosure, capacity building, and sustainable finance access, urging CEOs to embrace it strategically rather than as compliance. Kwairanga reaffirmed NGX’s goal to make Nigeria’s capital market Africa’s green finance hub.
Group CEO Temi Popoola called climate action a business imperative, noting sustainability-embedded firms attract capital, manage risks, and stay competitive. DEG Management Board Member Monika Beck highlighted partnerships scaling impactful, commercially viable climate solutions.
The event closed with a ceremonial gong marking the programme launch and send-off for outgoing DEG Regional Director Bernd Telemann.
News
Nigeria Off EU High-Risk Money Laundering List in Major Financial Win

Nigerian Financial Intelligence Unit (NFIU) has hailed Nigeria’s removal from the European Union’s list of high-risk third countries for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) as a landmark achievement endorsing the nation’s reform efforts.

Nigerian Financial Intelligence Unit (NFIU)
NFIU CEO Hafsat Abubakar Bakari said the delisting, contained in European Commission Delegated Regulation (EU) C (2025) 8460 adopted December 4, 2025 and effective January 29, 2026, affirms sustained AML/CFT and Counter Proliferation Financing (CPF) reforms.
The move follows Nigeria’s exit from the FATF Jurisdictions under Increased Monitoring after addressing strategic deficiencies, alongside Burkina Faso, Mali, Mozambique, South Africa and Tanzania.
Bakari noted the European Commission recognised Nigeria’s strengthened AML/CFT effectiveness, closed technical gaps, and fulfilled FATF Action Plan commitments leading to grey list removal in June and October 2025.
The delisting eliminates enhanced due diligence requirements for EU financial transactions, easing compliance, boosting cross-border flows, and enhancing Nigeria’s appeal for European trade, investment and partnerships.
The NFIU attributed success to President Bola Ahmed Tinubu’s political will and collaboration among National Assembly, law enforcement, regulators, judiciary, private sector and development partners.
The agency reaffirmed commitment to ongoing FATF, GIABA, EU engagement and domestic framework resilience to maintain international confidence in Nigeria’s financial system.
News
FG Directs Banks, Fintechs to Remit VAT on Service Fees

The Federal Government has directed all banks and fintechs to collect and remit 7.5 per cent value-added tax on certain electronic banking services, effective Monday, January 19, 2026, according to an email notice issued by payment platforms.

The VAT will apply to electronic banking charges, including mobile money transfers, USSD transaction fees, and card issuance fees, according to an email notice on Wednesday shared with customers by Moniepoint.
For example, if a bank charges N100 to make a transfer, the 7.5 per cent VAT will be applied to that service fee, not the money being sent.
“From Monday, January 19, 2026, we are required to collect a 7.5 per cent VAT, to be remitted to the Nigerian Revenue Service (formerly known as the Federal Inland Revenue Service).
“VAT will apply to certain banking services that include electronic banking charges such as mobile banking fees (transfers), USSD transaction fees, and card issuance fees,” the email read.
Other operators are expected to issue similar notices to their customers in the coming days. Services that will remain exempt include interest earned on deposits and savings, meaning customers will not pay tax on the returns from their accounts.
The NRS, formerly known as the Federal Inland Revenue Service, has set the deadline to ensure that all commercial banks, microfinance banks, and electronic money operators comply with the collection and remittance requirement.
Moniepoint stressed that this is not a price increase but a statutory obligation. “Moniepoint is required to collect and remit VAT to the Nigerian Revenue Service,” the company said in a statement.
The move is part of the government’s broader efforts to standardise VAT collection on digital financial services and expand revenue generation amid Nigeria’s growing digital economy. VAT on banking transactions is not entirely new; the NRS is now enforcing uniform collection rules across all platforms, ensuring compliance across the sector.
Customers have been assured that the new tax will be clearly itemised, with the VAT shown separately on transaction statements and reports.
In December, several commercial banks informed customers that the N50 stamp duty would be deducted on electronic transfers of N10,000 and above, following the commencement of provisions of the new Tax Act.
The charge, previously known as the EMTL, has now been formally reclassified as stamp duty and will be applied as a one-off fee on qualifying electronic transfers.
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