News
NASENI Trains Procurement Officers, Others on Global Best Practices
National Agency for Science and Engineering Infrastructure (NASENI) is organizing a 3-day procurement in-house training for all procurement and other relevant officers in NASENI system -wide to acquaint them with best procurement operations and in line with global practices.
The training will take place at the NASENI Headquarters, beginning from Tuesday 8th to 10th October, 2024, targeted at building the capacity of procurement officers, and other select staff from Accounts, Audit, legal, Media, Planning and other officers involved in procurement activities in NASENI System-wide.
The Executive Vice Chairman/Chief Executive Officer, NASENI, Mr. Khalil Suleiman Halilu will deliver the keynote address while Olusegun Omotola, Ag. Director General/CEO, Bureau of Public Procurement will declare the in-house training officially open.
The training amongst other things aims at ensuring that NASENI is doing the right thing and adhering to 2007 Procurement Act, Manual and other vital information that will enable the Agency to continue on the right track and to utilize the right information at every given time, as far as procurement matters are concerned.
Speaking on the upcoming training, the Director of Procurement, Dr. Mohammed A. Mohammed said that the training is based on NASENI needs and to enable officers meet up with changes in technology and practices which are global phenomenon, especially against the backdrop of on-going transformation in the NASENI system.
He said, “Things are changing, and you need to change with time, technology is changing globally, you need to build your capacity. This training is based on NASENI Needs on procurement which is slightly different from other sectors.
“Almost 75-80 per cent of NASENI activities is based on science and engineering, our method of procurement, is a little different, from the ministry of works, raw materials, etc. Again, you must build your capacity to be able to cope, which is why we are having this training, to build capacity in line with NASENI needs and mandate.”
According to him, building capacity is a continuous exercise and procurement is all about law end to end, adding that the officers working in procurement must be trained from time to time to equip them with new trends.
He also noted that with the Standard Operation Procedure globally and the World Bank new version on procurement, NASENI cannot work differently, it must key into global practices. He stated that 95 per cent of the resource persons for this training are from the Bureau of Public Procurement (BPP) as NASENI has an agreement with it, to assist in building the capacity of procurement and relevant officers in NASENI system-wide.
Also speaking on the upcoming in-house procurement training, Mr. Adekoya Olatunji, BPP consultant, said, that “the In-house training that is coming up in NASENI is very good, it will enable the officers to adhere strictly to procurement Act. What NASENI is doing is very good, so that the officers will do what they need to do very well”.
Highlights on some of the topics of the training with the theme: “Building the Best Procurement Operations in NASENI System-Wide” includes, Effective Procurement Practices & PPA, 2007, Procurement Planning, Procurement Record Keeping Procedures, Contract Agreement and Implications amongst others.
Xora Finance has announced it will no longer consider job applicants from Nigeria.
Xora Finance is a digital bank founded by Joren Lundgren, in February 2026 and allows users to deposit and earn interest on their XRP cryptocurrency.
Lundgren, founder, in an announcement on X (formerly Twitter), cited an ongoing pattern of misconduct, such as dishonesty and theft, from previous Nigerian hires as the reason for the decision.
This sudden blanket ban came just days after the company’s official career page was aggressively recruiting remote workers for marketing and content roles.
The announcement generated heavy backlash online, with many people upset that a blanket rule punishes honest job seekers.
Some lawyers have said that victims of Ponzi schemes have legal remedies, although recovering lost funds and prosecuting perpetrators remain major challenges.
A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new participants rather than from actual profits.
Operators lure victims by promising high returns with little to no risk.
The scheme inevitably collapses when the flow of new investors slows down.
Some lawyers who spoke to News Agency of Nigeria (NAN) separate interviews with on Sunday, said that victims could pursue civil actions to recover their money.
Mr Chibuikem Opara, a lawyer at Justification Chambers, Ikeja,said many Nigerians continued to fall victim to Ponzi schemes in spite of repeated warnings.
Opara said it was wrong to attribute participation in Ponzi schemes to a lack of investment opportunities, noting that promoters often exploit investors’ greed through promises of unrealistic returns.
“What you cannot take away is the fact that many Nigerians have fallen and continue to fall victim to these schemes every time,” he said.
According to him, victims may individually or collectively institute civil actions against the beneficiary company for breach of contract or refund arising from failure of consideration.
Opara said victims could also unite to seek an order from the Federal High Court to wind up the beneficiary company.
He, however, noted that such efforts might yield little benefit if perpetrators had already siphoned the funds and left behind an empty shell.
The lawyer said available remedies largely depended on the actions of relevant authorities, adding that recipient accounts could be frozen to facilitate fund recovery and support winding-up proceedings.
Opara said regulators and law enforcement agencies often became aware of Ponzi schemes only after substantial losses had occurred.
According to him, victims frequently failed to report suspicious schemes early enough to enable timely intervention.
He added that funds are sometimes moved outside the country before authorities become aware of the fraud.
Opara also cited inadequate information and the deceptive nature of the schemes as major obstacles to investigation and prosecution.
“Most times, everything about the schemes is made to appear elusive, just like the profits promised to victims,” he said.
Also speaking, Mr Vincent Aminu of A.F. Aminu and Co. advised that victims of investment scams should report such cases to appropriate law enforcement agencies on time.
Aminu said victims could petition the Economic and Financial Crimes Commission (EFCC) or file reports with the police.
He said that after investigation, prosecutors could bring charges against suspects under relevant fraud-related laws, including provisions of the Criminal Code and the Advance Fee Fraud and Other Fraud Related Offences Act.
Beyond criminal prosecution, Aminu said .victims could pursue civil actions to recover their money
According to him, such actions may be based on breach of contract, unjust enrichment, or fraudulent misrepresentation, depending on the circumstances.
He added that victims could petition the Securities and Exchange Commission (SEC), which could investigate illegal operators, shut down unauthorised platforms, and freeze assets.
He identified the anonymity of online fraudsters as one of the biggest challenges confronting investigators.
According to him, many operators concealed their identities through fake digital profiles and technologies that made tracking them difficult.
Aminu also noted that victims who delayed taking legal action risked losing opportunities for redress.
He added that prolonged court proceedings often delayed justice for victims.
“Many fraud-related cases take years before the court reaches a verdict, thereby delaying justice for victims,” he said.
Also, Mr Chris Ayiyi of Ayiyi Chambers, Apapa, described Ponzi schemes as a gamble that benefited early participants at the expense of later investors.
Ayiyi said some early entrants received returns on their investments, thereby encouraging others to join the schemes.
He said the schemes eventually collapsed, leaving late investors to bear the losses
The lawyer called for a complete ban on Ponzi schemes or sustained public enlightenment campaigns against them.
He urged the National Assembly to enact laws that would strengthen regulation and provide greater protection for investors.
According to him, stronger legal safeguards are necessary in a country operating a capital-based economy.
PalmPay Group (“PalmPay”), a multinational fintech company providing digital financial services across high-growth emerging markets, is pleased to appoint Samuel Oluyemi as Chief Operating Officer (“COO”) of its Nigeria practice, effective immediately.
The appointment comes at a pivotal moment for PalmPay as it looks to reach more underserved communities and continuously strengthen the reliability and security of its services. It also comes as Nigeria’s broader financial services sector continues to modernize, bring millions more Nigerians into the formal financial system, and strengthen the cybersecurity and fraud-prevention standards that underpin public confidence in digital payments.
As COO of PalmPay Nigeria, Mr. Oluyemi will oversee PalmPay’s Nigerian operations — where the company provides a full suite of digital financial services to individuals and businesses — and communicate with regulators to ensure the company’s growth happens harmoniously with the country’s financial, digital, and social inclusion goals.
Mr. Oluyemi brings more than two decades of experience at the Nigeria Inter-Bank Settlement System (“NIBSS”). During his tenure as the Business Development Lead, he championed the development of key national payment services — including the Digital Validation of Nigerian International Passport (e-Passport Validation), Electronic Dividend Mandate Management System (“e-DMMS”), and the Electronic Pensions Contribution Collection System (“EPCCOS”) — and played a pivotal role in introducing and driving early adoption of NIBSS Instant Payment (“NIP”), Nigeria’s first online, real-time, inter-bank transfer system in 2011 and its subsequent extension to the Other Financial Institutions (“OFI”) segment of the Nigeria Payments System.
He holds an MSc in Monetary Economics from the University of Ibadan with extensive local and international professional training.
“Samuel joins PalmPay at an important stage in our journey to strengthen the foundations that will support our long-term goal of driving financial inclusion,” said Chika Nwosu, Managing Director of PalmPay Nigeria. “His extensive experience makes him well positioned to help us scale sustainably while maintaining the operational discipline, governance and customer-first culture that define PalmPay.”
“PalmPay has established itself as one of the most impactful fintech companies in emerging markets by making financial services more accessible and affordable for millions of people,” said Mr. Oluyemi.
“I am excited to join the company and look forward to working alongside an exceptional team to strengthen operational excellence and support PalmPay’s vision of building a leading digital financial services platform. Together, we will continue delivering secure, reliable, and customer-focused financial solutions while contributing to the continued evolution of Nigeria’s digital financial ecosystem.”
As Nigeria’s digital financial services sector continues to mature, this appointment reflects a broader commitment guiding PalmPay across all markets it serves: building financial services that are secure, reliable, and effective enough to earn a permanent place in people’s everyday lives.
Xora Finance, Fintech Firm Refuses to Hire Nigerians over Alleged Dishonesty
FG Secures Fresh $208.3m World Bank Loan for Cash Transfer
How Ponzi Scheme Victims can Seek Legal Remedies — Lawyers
SERAP Sues INEC over Alleged N800Bn 2027 Tinubu Campaign Fund
Kaigama,Catholic Archbishop of Abuja Warns against Misuse of AI
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
Nigeria Launches FreeTV Nationwide
NASENI Moves to Digitize CCB’s 5m Assets Declaration and Operations
Lebara Nigeria Launches Lebara Play, Africa’s First Telecom-Owned Micro-Drama Platform
CANAL+ Partners Samsung to Pre-Load DStv Stream on New Samsung TVs In Nigeria, Other African Countries
Telecom3 days agoDStv, GOtv Owner MultiChoice Officially Joins Canal+ Group
News3 days agoPolice Busts Syndicate Who Allegedly Stole N3Bn from Financial Institution
Telecom3 days agoAirtel Africa to Connect 5,000 Schools to Free Internet by 2027
Telecom3 days agoMTN Accelerates Network Expansion to Meet Surging Telecom Demand
E-Financial3 days agoSEC Unveils Plans to Enforce Mandatory ESG Reporting for Large Firms Next Year
Broadcasting3 days agoFrom Scarcity to Scale: What Africa Can Learn from India’s Agricultural Transformation
E-Business3 days agoTeKnowledge, Equinix Partner to Advance Nigerian Digital Infrastructure
General News3 days agoNSIB Faults Runway Identification, Reveals Cockpit Disagreement in Asaba Jet Incident