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Removing Impediments to Postal Service

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At different fora, postal service including the courier has been hailed as capable of delivering return on investment if well structured and managed.

However, there are divergent views on the issue of deregulating the sector to make it a money spinner. Some opinion leaders in the industry argue that why telecommunications and postal service are within government control is that the two sectors are sensitive to the security and economy of any nation and therefore should be left in the hands of the government to pull the strings of control. This school of thought also says that the sector should not be totally deregulated.

On the other hand, it has been stressed by the other school of thought on the need to liberalize the sector to make players in the industry reap the bounty potentials of the sector.

They posit that regulation in the postal sector is needed to ensure viable competition to correct market failures and protect consumers’ and investors’ interest even as they picked holes in the present arrangement where the Courier Regulatory Department (CRD) , an organ of NIPOST that is also a player in the industry, is meant to call the shots in the industry. They likened the scenario to a player officiating in a match where he is also an active participant. No doubt, they believe, the impartial disposition of the official will also be called to question.

What is therefore needed in this direction is for government to make a bold step and ratify the document that is supposedly now in the domain of the National Assembly and name an independent regulator for the industry to kick-start the much awaited competition in the arena since postal stakeholders have generally argued that competition is a healthy development in any industry. Further delay in giving accent to the postal commission document is injurious to national development as the postal sector has contributed immensely to national economic growth, generating revenue in several billions of naira as well as creating employment opportunities for thousands of Nigerians even in the present arrangement in where the CRD is still part of the NIPOST, also a player in the industry.

Without overflogging the issue, postal operators have also cried out loud on the harsh and difficult environment under which they do business. The environment, they complained is not conducive to the postal business in particular and other businesses in general.

 

Transport for instance, is an integral part of daily subsistence, economic and social activities in any country. The sorry state of much of the Nigerian roads and networks is holding the postal sector back and preventing it from competing adequately in the global market.

Courier is a perishable product that is time sensitive, anything that subtracts timeliness of delivery has therefore removed the essence of courier.

However, with the poor state of our roads including the so called express roads that are characterized with pot holes culminating in traffic bottlenecks most of the times, timely delivery of mails and logistics therefore suffer a great deal.

For government to solve this problem, it needs to enunciate a well defined and effective transport policy in addition to putting the roads in good motorable condition as well as expand the road networks in the country. This will ease transportation problem as the human and vehicular population continue to be in the upswing leading to strains on the roads. A well defined and effective transport policy must be an integral part of any the country’s overall poverty reduction strategy.

Stakeholders have also cried over the state of energy sector in Nigeria saying that the lack of it has increased cost of operation for the postal sector as most companies fall back on generating sets with the attendant cost of purchasing fuel and diesel. Most postal companies make use of Information and Communication and Technology (ICT) tools and these equipment need energy to function. The effect of this is that the cost expended on diesel and fuel needed in day –to- day running of the business is spread across the services rendered by the postal companies. The customer bears the brunt.

There’s also the issue of harassing of courier vehicles and motor- cycles by government agencies including the local government officials. Operators have also complained of extortion at the airports by the police, customs, NDLEA and other security operatives.

Such practices are far from international practices and Olushola Pearce, managing director, DHL Regional Services in his presentation during a courier event sometime ago highlighted the importance of inculcating international best practices into the postal sector arguing that until such is done, the sector will continue to suffer setbacks which will not benefit the nation, operators or the economy. He therefore urged for urgent steps to be taken by the government to put things in the right perspective.

Few connecting local flights at the Nigerian airports is also a problem for postal operators as such planes cover major cities where there are heightened business activities. The implication is delay in consignments getting to their various destinations on time.

The federal government should investigate these and other issues not mentioned here adequately enough with a view to addressing them squarely. Above all,

it should hasten up to appoint the independent commission that will regulate the postal sector. The time to act is now.


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Telecom

VDT Communications Achieves Two Prestigious Certifications ISO /IEC 27001:2022, ISO/IEC 27032:2023 Reinforcing its Leadership in Broadband Service Provision

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L-r: Oluwaseyi Omoloja,Special Project Manager(SPM), Iriowen A. Osemwegie, Head, Audit &Control, Mrs. Bimbo Ikumariegbe, COO, Engr. Biodun Omoniyi,GMD, Engr. Yemi Oladele, CTO, Engr. Oluwasanmi Kehinde, Team Lead, Service Quality Improvement and Busuyi Ojarotade, Head Network Service - all of VDT Communications Limited displaying the latest certifications: ISO/IEC 27032 for Cybersecurity and ISO/IEC for Information Security recently awarded to the company.
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VDT Communications Limited, a provider of Enterprise communication solutions, is proud to announce that it has been awarded the ISO/IEC 27001:2022 Information Security Management System (ISMS) and ISO/IEC 27032:2023 Cybersecurity Management System certifications.

These prestigious certifications demonstrate VDT’s commitment to maintaining the highest standards of information security and cybersecurity, ensuring the protection of sensitive customer data and maintaining the trust of its clients.

These certifications are a testament to VDT’s dedication to implementing robust information security and cybersecurity measures, aligning with international best practices.

The ISO/IEC 27001:2022 certification recognizes VDT’s ability to establish, implement, maintain, and continually improve its ISMS, ensuring the confidentiality, integrity, and availability of customer information. The ISO/IEC 27032:2023 certification highlights its commitment to protecting its customers’ information assets and preventing Cyber threats.

VDT Communications Limited has consistently demonstrated its commitment to excellence, previously earning and maintaining ISO 9001:2015 Quality Management System and ISO 20000-1:2018 IT Service Management certifications. These certifications have enabled the company to deliver high-quality services, ensuring customer satisfaction and loyalty.

“We are thrilled to receive these two prestigious certifications, which reinforce our commitment to information security and cybersecurity. These certifications demonstrate our dedication to implementing robust security measures that ensure confidentiality, integrity and availability of customer data” said Engr. Abiodun Omoniyi, GMD of VDT Communications Limited.

The ISO/IEC 27001:2022 and ISO/IEC 27032:2023 certifications bring numerous benefits to VDT’s customers, including:

  • Enhanced information security and cybersecurity posture
  • Protection of sensitive customer data
  • Compliance with international standards and regulations
  • Improved risk management and incident response
  • Increased trust and confidence in VDT’s services

“We are proud to serve our customers with the highest level of security and quality,” Bimbo Ikumariegbe, Chief Operating Officer (COO) of VDT. “These certifications demonstrate our commitment to excellence and our dedication to delivering innovative communication solutions that meet the evolving needs of our customers” – Olufemi Akinola, Head, Information Technology.


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E-Financial

CBN Orders Banks to Restrict Access to Banking Services for Loan Defaulters

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Central Bank of Nigeria (CBN) has asked commercial banks to restrict loan defaulters, specifically large-ticket obligors, from accessing credit facilities.

CBN Orders Banks to Restrict Access to Banking Services for Loan Defaulters

A large ticket obligor is a borrower (an individual or company) that owes a very large amount of money to a bank.

The directive is coming a week after the CBN asked financial institutions to stress test.

It is uncertain if the two directives are connected or what may have triggered the loan-related instruction, but the apex bank said it furthers its mandate to protect Nigeria’s financial system.

“In furtherance of its mandate to promote a sound financial system, protect depositors, and enhance prudential compliance within the banking sector, the Central Bank of Nigeria (CBN) hereby directs all banks to restrict non-performing large ticket obligors, whose activities pose systemic risk to the financial system, from accessing specified banking services,” the circular reads in part.

“Any large-ticket obligor with a non-performing facility recorded in the CRMS and/or any licensed private credit bureau shall not be granted additional credit facilities. For the purpose of this restriction, credit facilities include loans and other forms of direct credit.

“In addition, such obligors shall not be granted banking facilities or contingent liabilities such as bankers’ confirmations, letters of credit, performance bonds, or advance payment guarantees.”

On strengthening collateral coverage, the CBN asked financial institutions to obtain additional realisable collateral from such obligors to adequately secure existing exposures.

The CBN said large ticket obligors are borrowers whose exposures are as defined under Clause 3.2 (d) of the prudential guidelines for deposit money banks in Nigeria 2010, or a customer with a combined exposure across banks, as shown in the credit risk management system (CRMS), and/or as shown in the reports of a licensed private credit bureau, “that exceed the Single Obligor Limit (SOL), which materially affect a bank’s Capital Adequacy Ratio (CAR) or otherwise pose a systemic risk to the financial system”.

“This directive reinforces earlier measures, particularly the circular titled “Prohibition of Loan Defaulters from Further Access to Credit Facilities in the Banking System” issued on June 30, 2014 (Ref: BSD/DIR/GEN/LAB/07/015). This is to ensure consistency and effectiveness in curbing credit abuse by large-ticket obligors,” the circular further reads.

The regulator said it will monitor compliance with the directive to ensure consistent implementation across the banking industry.

The CBN warned that noncompliance would attract appropriate regulatory sanctions in line with the provisions of the Banks and Other Financial Institutions Act (BOFIA) 2020.

Nigerian banks are undergoing a recapitalisation programme, slated to end by March 31.

So far, about 30 banks have met the minimum capital requirements announced in March 2024.

 


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News

NLNG Advances Media Excellence with Change Your Story Workshop

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NLNG has demonstrated its dedication to media development in Nigeria through the successful completion of the second edition of the #NLNGChangeYourStory workshop for 2026, which took place in Lagos.

The workshop convened 40 participants representing diverse media outlets to examine the changing landscape of journalism shaped by artificial intelligence and digital communication. Discussions centered on how new media technologies can support real-time reporting, extend audience reach across borders, and foster deeper, more effective engagement on digital platforms.

Speaking at the event, the General Manager, External Relations and Sustainable Development at NLNG, Sophia Horsfall, described the workshop as part of the company’s broader effort to strengthen engagement with the media while supporting professional excellence in journalism. She noted that the initiative reflects NLNG’s belief that well-informed reporting plays an important role in shaping public understanding of critical sectors such as energy, economic development, and sustainability.

She encouraged participants to leverage the insights and practical knowledge gained during the workshop to elevate the quality, depth, and credibility of their reporting.

“NLNG views this engagement as a strategic partnership. We provide the energy that powers nations and generates revenue for our nation; you provide the information that powers our minds. We have been proud to host you, but our pride will only be justified when we see the ‘New Standard’ in your next feature, your next broadcast, and your next investigative report.

As you head back to your various stations, I urge you to take the spirit of this workshop with you.”

The programme combined expert-led discussions with hands-on learning. Digital communication specialist Dan Mason guided participants through key aspects of digital storytelling, while veteran journalist Taiwo Obe led a practical Journalism Clinic. Together, the sessions equipped participants with practical skills in data visualisation, online verification, audience engagement, and managing a strong digital presence.

Through the workshop, NLNG reiterated its commitment to promoting journalistic excellence and supporting the media industry’s digital transformation. The #NLNGChangeYourStory programme has now empowered over 400 journalists with enhanced digital communication and social media skills across its various editions.


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