General News
ANCO Moves to Save Courier Industry from Unhealthy Practices
Members of the Association of Nigeria Courier Operators (ANCO) recently, took to the Eleguishi Beach located in Lekki, Lagos, to ponder on issues concerning postal and courier industry in Nigeria, many of which are unhealthy to the sector.
At the a-day retreat covered exclusively by Nigeria CommunicationsWeek, some industry practitioners received thumb-down for negligence on the operational rules of engagement, while ANCO vowed to collaborate with the Federal Government through the Courier Regulatory Department (CRD) of NIPOST to ensure the industry is purged of inadequacies.
Declaring the retreat open, Mr. Siyanbola Oladapo, national president of the Association, said that ANCO executives in agreement with the members deemed it necessary to relax in a serene environment and thinker on how matters concerning the industry can be addressed.
He said they needed an environment devoid of Lagos metropolis “noises” and interferences to mediate on identifiable cases.
What are these cases? He identified some of issues that demand urgent attention to include non-adherence to pricing regulations, unhealthy marketing, independent regulator, and quackery.
On pricing, the Oladapo said, “We are not just the people advocating for strict adherence to minimum price in the industry. Even the registrars and the CRD have urged operators to maintain this stand. CRD came up with the benchmark which we advice every player in the industry to adhere to”.
Nodding in agreement, Ms Lara Okuneye, vice president of ANCO said, “In a relaxed environment, you will be able to discuss freely with your colleagues. One of such issues is pricing. Some people go out there because they do not know what they want; they are just anxious about getting contract. During the process, they end up cutting corners. We want to rebrand the industry. Let them know that this industry is driven my integrity and competence. If you know you are of a royal blood, you wouldn’t behave like a street urchin”.
She alluded to Oladapo’s position that necessitated the retreat, thus, “We came out here to put heads together and muster courage to confront certain issues bedeviling the industry. This is actually the peak of our operations, but people are tensed up. We want them to be relaxed. In other words, we do not want to lose anybody. In doing that, we get to know each other and there are salient points we want to discuss”.
In same light, Imasuen Olajumoke, managing director of Ran Parcel Services limited told Nigeria CommunicationsWeek that, “Presently, we are not enjoying any uniform rate, even though it is there. Courier Regulatory Department (CRD) gave out these rates. Professionally, every courier firm should adhere to the rates. In my company, if we are deliver a parcel for you from Lagos to Maiduguri within 48 hours, N3,500 is the minimum charge. So, the industry needs an enforcement of regulatory rates.
“For ANCO, we can do a lot for the industry by emphasizing that we need to work as a team. The need for us to expand has come”.
Angered by the unceasing unhealthy marketing, scheming and gimmicks coupled with backstabbing, Mr. Okey Ubah, secretary general of ANCO, said that, a situation companies goes at the back to re-negotiate contracts already awarded to another firm, especially without superior and competitive edge, implies that some players are out to ruin others businesses.
“A situation where you have a contract to deliver parcels and as you cannot cover everywhere, it will require you network with your colleagues; the person goes behind to slander you before the client in other to take the advantage.
“Instead, bring up superior argument on why you should be allowed to carry out the delivery, as against such practices of backbiting.
“Secondly, when you expose your industry to the pushes of economic constraints, and that comes mainly from greenhorns, they do not ask how to get the job or channels of delivery. At the end, they will be constrained on how to carry out the delivery.
“When a job that should cost about N10, because someone is desperate for the venture he goes to negotiate for N5. At the end, he might not be able to deliver, dumps it or goes back for re-negotiation. By that, you are running yourself and the industry down. That is aggressive marketing, unnecessary scheming and inordinate marketing that is bad. In the mean time, you may think that is smartness, but it backfires”.
Oladapo slammed operators who cheapen themselves and berated others who have refused to abide by the rules, especially by registering with NIPOST.
He said, “If you are a professional, you have to abide by the principle, ethics, and rules guiding the profession. Companies tend to underrate the operators due to the economic outlook of the nation. Why some of the operators cause it themselves by disregarding the federal government’s pricing guides. We are saying, although there is no upper limit, but there should be a lower limit. We are trying to enforce it that the industry, might grow.
“It is another way to checkmate quackery: who are given to cutting corners. We have to make difference in the way the society perceives and treats us. We are interested in upholding the objectives, to promote the industry, ‘sanitize’ it and ensure that those who are not part of the reform are not been patronized by the innocent members of the public. There will be sanctions hence we are ready to work with the federal Government through the CRD to achieve the purpose”.
ANCO scribe also questioned the rationale behind some quoted companies that deliberately refuse to hold annual general meetings or print annual reports for their shareholders.
This attitude, he said, has led to hardship on the part of registrars and courier operators who are part of the value chain in the distribution and dispatch of the annual report.
Ubah said, “It shows the general decadence in the society. When you talk about registrars, it is not solely under their purview for annual reports to be printed for shareholders. It involves company secretaries, shareholders association, registrars, Securities and Exchange Commission (SEC), and Nigerian Stock Exchange (NSE). Should any of them compromise it affects others in the chain. The job of the registrars is to ensure the reports are distributed involving the courier firms.
“They do not even have the right to decide the quantity of reports to be printed. Primarily, the shareholders ought to react when their annual reports are not printed; send queries to SEC when they do not print the actual number of annual reports. When companies engage in such shoddy acts, it affects the registrars resources; by implication the courier companies have to downsize, . as breadwinners lose their jobs, people must survive in one way or the others, therefore, crime becomes thrives in the society. It is not advisable for companies to continue to surchange the system through that dubious means. Every shareholder is entitled to an annual report, whether in attendance during the meeting or not.
“The essence of the report is for them to diagnose the company’s performances and determine if to continue investing or otherwise. Such action is illegal and malicious. It has to be taken care of, because it affects businesses and the economy”.
They were agreed that these issues could be things in the past should the Federal Government deliver on its promise to give the industry an independent regulator.
Also speaking to Nigeria CommunicationsWeek, Ranti Shobande, ANCO’s Financial Secretary, said, “We were happy when we heard that the Federal Executive Council (FEC) has approved the moves for the Postal Commission Bill; we thought in a short while the nine (9) years lingering issue will be resolved.
“However, we have not heard from them again; besides, the office of the vice president is expected fine-tune the Bill. Look at a country like Ghana; there is no way you can compare postal sector in Nigeria to Ghana’s industry. Why the foot-dragging? I am beginning to believe vested interests are bent on killing the morale of the operators. But how long shall this continue?
Olajumoke agreed with Shobande’s postulation, adding that, “Countries that understand the positive impact of the postal & courier sector on the economy do not play politics with the sector. Even though they have embraced the internet and its courses, it has not deterred them from appreciating why the postal should be given a face-lift. They deliberately allowed the postal industry operations.
“Apart from the fact not everybody can operate the internet; these countries understand that people who work there should be protected. Outside Nigeria, postal industry receives a lot of attentions and assistance from the government. Until we appreciate that the best way to help this industry is to enact a law for the establishment of an independent body, then we might just be walking about a circle”.
Meanwhile, Mr. Toyin Adeojo, publicity secretary of the Association, said that, on the interim, the Federal Government should provide CRD with necessary tools to aid her operations; hence the industry must be sanitized before the country could reap from its numerous potentials.
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Federal High Court in Abuja has adjourned the Federal Government’s alleged tax evasion case against Binance Holdings Ltd. cryptocurrency exchange, until September 24, 2026, to allow both parties more time to pursue an out-of-court settlement.
Justice Emeka Nwite fixed the new date on Thursday after Moses Ideho, counsel to the Federal Government, informed the court that discussions aimed at resolving the dispute amicably were still ongoing.
Ideho, a deputy director of Legal and Prosecution at the Nigeria Revenue Service (formerly the Federal Inland Revenue Service), told the court that the matter, which had been scheduled for a report on settlement or continuation of trial, could not proceed.
According to him, one reason for the delay was the reported elevation of Justice Nwite to the Court of Appeal, while the second was the continued reconciliation efforts between the parties.
“The parties are still exploring settlement in the charge that led to this case,” Ideho told the court.
Sunday Agaji, counsel to Binance, did not oppose the application for adjournment, following which Justice Nwite postponed proceedings until September 24 for either a report on the settlement discussions or continuation of trial.
The case was previously adjourned on May 12 after both the Federal Government and Binance informed the court that negotiations were underway to settle the matter outside the courtroom.
Binance had first indicated its willingness to pursue an amicable resolution on March 24.
The cryptocurrency company was re-arraigned on July 12, 2024, on a four-count charge bordering on alleged tax evasion.
Ayodele Omotilewa, Nigerian representative, pleaded not guilty on behalf of the company.
The re-arraignment followed the removal of Binance executive Tigran Gambaryan and his colleague, Nadeem Anjarwalla, from the charge after the Federal Government amended the case to make Binance Holdings Ltd the sole defendant.
Justice Nwite had, on June 14, 2024, discharged and struck out the names of Gambaryan and Anjarwalla after the prosecution filed the amended charge.
Binance is also facing a separate criminal prosecution by the Economic and Financial Crimes Commission (EFCC), which accuses the company of laundering about $35.4m.
In addition, the Nigeria Revenue Service is pursuing a separate civil suit against Binance before another judge of the Federal High Court, seeking approximately $79.5bn in alleged economic losses linked to the company’s operations in Nigeria.
Oodua Youth Coalition (OYC), a Yoruba socio-cultural group, has issued a notice to stage peaceful picketing at MTN Nigeria offices nationwide.
This action stems from the company’s alleged failure to publicly condemn recent xenophobic attacks against Nigerians in South Africa.
This is coming despite statement by Karl Toriola, chief executive officer, MTN Nigeria, who recently said that MTN may have originated from South Africa, he explained, but MTN Nigeria is a Nigerian publicly quoted company, managed by Nigerians and with a Nigerian board.
However, in a statement jointly signed Olatunji Adejuwon and Olaoye Abolaji,vice president and national secretary respectively of OYC, described MTN Nigeria’s silence as unacceptable, given the company’s South African roots and the patronage it enjoys from Nigerians
The coalition said it would proceed with a peaceful protest if the telecommunications company continued to ignore its demands, stressing that the action was intended to draw attention to the need for corporate responsibility and moral leadership in condemning xenophobic attacks against fellow Africans.
“Consequently, the Oodua Youth Coalition hereby gives notice that we shall, without hesitation, commence a peaceful picketing of MTN Nigeria’s offices if the company continues to ignore our legitimate demands.
“Our action is intended to draw attention to the need for corporate responsibility and moral leadership in condemning acts of xenophobia against fellow Africans,” the statement said.
The group renewed its call on MTN Nigeria to immediately convene a press conference, with representatives of the coalition in attendance, to unequivocally condemn the xenophobic attacks and reaffirm its commitment to the safety, dignity and unity of all Africans.
It maintained that the proposed protest would be peaceful, orderly and in accordance with the laws of the Federal Republic of Nigeria.
According to the coalition, relevant security agencies have been notified of the planned action, while appropriate communications have also been sent to the South African diplomatic mission in Nigeria.
“We once again call on MTN Nigeria to immediately convene a press conference, with representatives of the Oodua Youth Coalition in attendance, to unequivocally condemn the xenophobic attacks and reaffirm its commitment to the safety, dignity and unity of all Africans.
“We emphasise that our proposed action shall remain peaceful, orderly and in accordance with the laws of the Federal Republic of Nigeria. Relevant security agencies have been duly notified, and appropriate communications have also been sent to the South African diplomatic mission in Nigeria.”
Reaffirming its commitment to defending the rights and dignity of Nigerians, the coalition vowed not to relent until its concerns received the desired attention.
“The Oodua Youth Coalition remains committed to defending the dignity of Nigerians and promoting African solidarity. We will not relent until our concerns receive the attention they deserve,” the statement added.
Responding to the controversy, Toriola further condemned all forms of xenophobia and violence against Africans living in South Africa, insisting that MTN Nigeria is a Nigerian company with substantial local ownership.
“We unequivocally condemn any form of xenophobia, violence or attacks against any community in the world. We’re a Nigerian company, through and through. We’re listed on the stock exchange with over 201,000 retail investors, and 11 million people hold shares through their pension funds in MTN Nigeria.
“We provide the digital backbone of the economy, and we have a completely Nigerian entity.
“Yes, MTN was founded in South Africa, and the parent company that is the majority shareholder is South African. But let’s also look at it objectively. The shareholding of MTN Holding South Africa is only 50 per cent African.
“The remaining 50 per cent is from across the world — 27 per cent from the United States, with the rest from the United Kingdom, Europe, the Middle East and the Asia-Pacific region,” Toriola said.
By Bidemi Oke
Every civilisation has been built on one invisible infrastructure. The Romans built roads. The Industrial Revolution built electricity. The Internet built information. The next economy may be built on something far less tangible.
Trust
That sounds counterintuitive because we have spent centuries believing that money is the foundation of every economy. It isn’t. Money has never been the foundation; it has simply been the mechanism through which trust is exchanged. Every major financial innovation, from coins and paper notes to credit cards, online banking and blockchain, has been humanity’s attempt to solve the same problem: “how do we help strangers trust one another without ever meeting?”
Seen through that lens, today’s financial revolution looks very different.
Most discussions about digital finance revolve around whether cash will disappear. We debate mobile wallets, central bank digital currencies, cryptocurrency, real-time payments and digital banking. Yet these conversations often mistake the visible change for the actual transformation.
The real shift is not that money is becoming digital. The real shift is that trust is becoming programmable. That single idea explains why the financial landscape is changing faster than many people realize.
For decades, finance has depended on institutions to create confidence. Banks verified identities, governments authenticated currencies, contracts relied on lawyers, payment networks validated transactions and every exchange involved an intermediary whose primary role was to reassure two parties that the system could be trusted.
Technology is quietly rewriting that arrangement
Today, identities can be verified digitally. Transactions can be authenticated within seconds, smart contracts can execute agreements automatically once predefined conditions are met, and artificial intelligence can detect suspicious activity before humans notice it. Increasingly, confidence is being built into the infrastructure itself rather than added afterwards.
This is why I believe we need a new way to think about the evolution of finance, not as a journey from cash to digital payments, but as “three generations of financial trust”.
The first generation was Physical Trust. Trust was tied to tangible assets like gold, paper currency, handwritten signatures and face-to-face interactions. Confidence came from what people could physically see and hold.
The second generation was Institutional Trust. As economies expanded, institutions became the guarantors of financial confidence. Banks, regulators, payment networks and financial intermediaries enabled transactions at a scale impossible through personal relationships alone. Trust shifted from physical objects to established organisations.
We are now entering the third generation: Programmable Trust.
Here, trust is embedded directly into technology. Verification happens automatically. Payments settle in real time, financial services become integrated into everyday experiences instead of existing as separate destinations. Increasingly, people interact with trusted systems rather than trusted institutions alone. That distinction is more profound than it first appears.
Many organisations still measure digital transformation by counting how many services have moved online, but digitising an existing process is not the same as redesigning how trust flows through an economy. Converting paperwork into an application does not automatically create a digital financial ecosystem.
This explains why some economies process millions of digital transactions every day yet continue to face friction, inefficiency and limited financial inclusion. The missing ingredient is rarely another payment platform. More often, it is interoperable infrastructure, trusted digital identity, consistent regulation and systems capable of working together seamlessly.
In other words, the future of finance will not be determined by who builds the fastest application. It will be determined by who builds the most trusted ecosystem.
This has significant implications for Africa. The continent has rightly earned global recognition for accelerating digital financial adoption. Yet the next opportunity extends beyond increasing transaction volumes. The greater challenge is designing financial infrastructure where payments, identity, data, compliance and commerce interact intelligently rather than operating in isolation.
That is where long-term competitive advantage will emerge. Perhaps the greatest irony of all is that the more advanced finance becomes, the less visible it will appear.
People rarely think about the internet protocols that power a video call or the cloud infrastructure supporting an online purchase. Likewise, future generations may hardly think about payment rails, settlement networks or blockchain architecture. Financial experiences will simply happen securely, instantly and almost invisibly.
History suggests that successful technologies eventually disappear from our attention not because they become less important, but because they become so reliable that we stop noticing them altogether.
So, are we entering a fully digital financial economy? Perhaps that is no longer the right question.
A more useful question is whether we are entering an economy where trust itself becomes digital infrastructure because if that is true, then the organisations shaping the future of finance are not merely moving money more efficiently.
They are redesigning how entire economies create confidence at scale and that may prove to be the most valuable innovation of all.
Bidemi Oke is the Chief Executive Officer of FlashChange, a fintech platform focused on secure digital asset exchange. He is an entrepreneur and vibrant leader, recognized for driving innovation and redefining access in the financial technology industry.
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