General News
During High Inflation, Great Customer Experience isn’t Just a Competitive Differentiator—it’s a Matter of Survival

By Hyther Nizam, President – MEA, Zoho Corp.
Inflation is on almost everyone’s mind right now. Around the globe, the supply chain issues caused by the COVID-19 pandemic have been compounded by the war in Ukraine and tight labour markets in some countries.

Nigeria is no exception. In September, the country’s inflation rate hit a 17-year high, accelerating for the eighth straight month to 20.77% from 20.52% in the prior month.
Both businesses and their customers are being adversely affected by this inflation. Businesses have been compelled to raise the price of products and services as operating expenses have increased. But they do so at the risk of revenue as clients either forego a purchase or opt for a less expensive alternative.
For businesses to survive in this environment, offering a great customer experience (CX) could be the difference between losing revenue and retaining a client. In fact, research shows that as inflation rises, companies can expect to see inflated demand for great customer experiences. So, far from cutting back on investments in customer experience to reduce price increases, companies should ensure that it remains a major focus.
CX goes beyond being just a competitive advantage
Research by Gartner (2021) shows that 89% of companies compete primarily on customer experience. That is considerably higher than the two-thirds which did so in 2018. Also, as many as 80% of customers will switch brands after a negative experience.
That means, in a world that provides customers limitless options even amidst high inflation, the experience an organisation provides has to be exceptional to not just earn customer loyalty but to also elevate the perceived brand value. This will help brands retain customers even when they increase the price of their product or service.
What makes for an exceptional CX?
Customer experience extends beyond browsing a website and then paying for goods or a service. It encompasses the totality of their experience with a company, from marketing to the purchase process, billing, and after-sales service. A good CX tool will ensure that these experiences are personalised, meaningful, timely, and engaging. Most importantly, it will ensure consistency by providing different customer-facing teams contextual information that will help them engage with the customers in a meaningful way.
Organisations need to break down silos, and ensure that different departments have visibility into various customer-facing initiatives. For example, if the social media marketing team is promoting a holiday sale campaign, there is a good chance that customers may be adding items to their cart and waiting for the sale day to make the purchase. This would increase the cart abandonment rate and the relevant teams should have that information, which can be achieved through a unified marketing platform. Similarly, having an insight into which customers have open support tickets or pending payments will enable salespeople to narrow the list of clients they want to upsell.
As we gear up for testing times, the cost of customer acquisition is likely to shoot up even as more and more customers rely on brands they trust. Businesses need to turn their focus on customer retention by providing exceptional CX on all touchpoints. One key aspect that businesses should consider is to understand that the way to provide great CX is through great EX (employee experience). They should ensure that the customer-facing teams are equipped with a robust software platform that is unified and powered by AI so that employees can do their job more efficiently.
General News
LG Electronics Celebrates Women Who Power Progress @ 2026 Women’s Month Event

LG Electronics has reinforced its commitment to gender inclusion and women’s empowerment with the successful hosting of its 2026 Women’s Month event, themed “Women Who Power Progress,” at its Lagos office.

The event brought together accomplished women from diverse industries for a thought‑provoking panel discussion that explored their personal journeys, career-defining moments, and the inspiration behind their success in traditionally male-dominated and highly competitive fields.
The distinguished panel featured award‑winning filmmaker Mrs. Biodun Stephen, Mechanical Engineer Engr. Adeola A. Adeleke, Interior Design Leader Dr. Jennifer Chukwujekwe, and MEP Engineer Engr. Moyosore Onabolu. The session was expertly moderated by actress and entrepreneur Blessing Obasi‑Nze, who guided candid conversations around ambition, resilience, and purpose.
Throughout the discussion, panelists shared compelling stories of perseverance, the challenges they overcame, and the values that shaped their professional paths. They also offered practical advice to women navigating their careers, emphasizing the importance of resilience, continuous learning, self-belief, and mentorship as key drivers of long-term success.
A major highlight of the event was the keynote address delivered by Engr. Dr. Funmilade Akingbagbohun, the first female National Chairman of the Nigerian Institution of Mechanical Engineers (NIMechE), Mechanical Engineer, and STEM Advocate. Her keynote address tagged “Women Building, Fixing, Innovating, and Powering the Future of Technology,” delivered a compelling call to action for women, organisations, and society at large.
“Women are building, fixing, innovating, and powering the future of technology. As we mark International Women’s Day, my call to action is simple but urgent: rise, build, break barriers, and lift others along the way,” she said.
“To organisations like LG Electronics, continue to foster inclusive environments where women can thrive, lead, and innovate. To every woman here, be bold, pursue excellence, and never underestimate your potential. To the next generation, embrace STEM careers with confidence and courage. And to all of us, support one another because success is more meaningful when it is shared.”
“While we celebrate progress, we must acknowledge the challenges that still exist, from gender stereotypes and underrepresentation in leadership to the pressure of balancing multiple roles. Yet today’s woman is competent, resilient, and visionary. We are no longer waiting for opportunities; we are creating them, claiming them, and excelling in them. When women rise, organisations grow, and society progresses. There is no limit to what we, as women, can accomplish.”
Speaking at the event, the Managing Director of LG Electronics, Mr. Hyoung Sub Ji, underscored the company’s belief in the transformative power of inclusion.
“At LG Electronics, we believe that empowering women is not just a social responsibility, it is a catalyst for innovation, growth, and sustainable progress. Creating platforms where women’s voices and experiences are celebrated is essential to building a more inclusive future,” he said.
Held in a vibrant and engaging atmosphere, the event also provided a valuable networking platform for attendees to connect, celebrate achievements, and exchange ideas in a relaxed and inspiring environment.
In line with the broader International Women’s Day theme, “Give to Gain,” LG Electronics used the occasion to reaffirm its belief that investing in women strengthens communities, organisations, and society at large.
Through initiatives like “Women Who Power Progress,” LG Electronics continues to champion diversity and inclusion, celebrating women who are not only breaking barriers but actively shaping the future and powering progress across industries.
General News
EFCC Waxes Worriedly over $160Bn Crypto Crime Losses

Economic and Financial Crimes Commission (EFCC) has warned of rising cryptocurrency-related crimes, revealing that illicit digital currency transactions exceeded $160 billion globally in 2025.

Ola Olukoyede, chairman, raised the concern during the inauguration of the United Nations Office on Drugs and Crime Country Programme for Nigeria (2026–2030) in Abuja.
Olukoyede, warned that digital currencies such as Bitcoin are increasingly being exploited by criminal networks to move funds across borders undetected.
According to him, advances in technology, weak regulatory frameworks, and gaps in global financial systems have created fertile ground for cyber-enabled financial crimes.
The anti-graft agency boss stressed that tackling cryptocurrency crime required coordinated national strategies, stronger institutions, and intelligence-driven enforcement.
According to him, the new UNODC programme comes at a critical time when Nigeria and the global community are facing growing threats from organised crime, cybercrime, and illicit financial flows.
Olukoyede described the initiative as a strategic platform to strengthen the rule of law, improve the criminal justice system, and protect citizens from financial and violent crimes.
Musa Aliyu, chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), in his comments, called for stronger inter-agency cooperation.
Aliyu said Nigeria faced interconnected threats, including violent extremism, smuggling, organised crime, and illicit financial flows, warning that no single agency could address them alone.
General News
FG Awards N50m Each to 45 Students under S-VCG

Federal government has awarded N50 million each to 45 students selected from 65 finalists drawn from public and private tertiary institutions nationwide under the Student Venture Capital Grant (S-VCG).

Tunji Alausa, minister of Education, unveiled the initiative at the weekend at the United Nations Development Programme Innovation Hub in Ikoyi, Lagos, describing it as a bold step toward positioning Nigerian youth as drivers of global innovation.
Alausa said the programme marked a significant shift in education policy, aimed at empowering students through innovation, entrepreneurship, and skills development. He noted that the grant offers equity-free funding, mentorship, incubation, and access to digital tools.
He explained that the beneficiaries emerged after a rigorous selection process involving over 30,000 applicants from more than 400 tertiary institutions across the country, culminating in a three-day bootcamp and pitch session before industry experts.
According to the minister, the initiative is designed to transform tertiary institutions into hubs of innovation and economic development, enabling students to move from ideation to commercialisation and become job creators.
“Today is not just another programme event. We are activating a new future for Nigerian students where great ideas are nurtured into impactful solutions,” he said.
Also speaking, Suwaiba Ahmad, minister of State for Education, described student entrepreneurship as a critical national strategy for job creation and economic growth. She emphasised the need for institutions to move beyond theory and support students in translating ideas into viable enterprises.
Similarly, Bosun Tijani, minister of Communications and Digital Economy, commended the initiative, urging beneficiaries to focus on building sustainable and impactful solutions rather than pursuing short-term gains.
He advised students to adopt consistency and long-term thinking, noting that small, sustained efforts could lead to meaningful innovation and societal impact.
In her goodwill message, Elsie Attafuah reaffirmed the commitment of the United Nations to supporting Nigeria’s innovation ecosystem.
She encouraged beneficiaries to refine their ideas, respond to market needs, and contribute meaningfully to national development through innovative solutions.
The minister acknowledged key partners, including the UNDP, Google, and the Bank of Industry, for their support in implementing the initiative and expanding opportunities for young innovators across Nigeria.
E-Financial2 days agoCBN bars large‑ticket loan defaulters from banking services in tough new crackdown
General News2 days agoARN Rejects Medical Bill over Attempt to ‘Scrap’ Profession
Telecom2 days agoNIGCOMSAT Supports Startups Growth with the Launch of Accelerator 3.0
Telecom2 days agoFG Unveils Digital Economy Research Fund Scheme
News2 days agoMeningitis Kills a Quarter Million People a Year -Study
News2 days agoStakeholder says AI is Crucial to Nigerian Data Centres Amid Persistent Grid Collapse
- General News2 days ago
Nigeria Advances Digital Governance as NITDA takes over NGEA Portal
General News2 days agoZarttech Reflects on Its Role in Changing Global Perceptions of Africa



















