News
Investors Take More Money out of Nigeria

For every dollar brought into Nigeria this year, more than $2 has been taken out according to a report on foreign portfolio investment (FPI).
A year-to-date report on FPI obtained at the weekend, indicated that Nigeria suffered a net deficit of 108 per cent in the first two months of the year.
The FPI outflow worsened in February, as uncertainties persisted over Nigeria’s foreign exchange management.
The report, coordinated by the Nigerian Stock Exchange (NSE), showed that FP outflow outpaced inflow by 108 per cent.
The two-month report showed that foreign outflow totalled N58.20 billion as against foreign inflow of N27.95 billion.
Total foreign transactions of N86.15 billion represented 42.8 per cent.
Domestic investors, however, appeared to be stepping in to fill the gap left by the foreign investors. They invested N115.22 billion, representing 57.22 per cent of the total transactions, during the period.
Monthly analysis showed that FP outflow totaled N31.84 billion as against inflow of N10.94 billion. In the same period last year, foreign outflow was N81.60 billion while inflow was N52.35 billion.
In January, FPI report showed that foreign inflow stood at N17.01 billion as against outflow of N26.36 billion, representing a deficit of N9.35 billion.
Total foreign transactions thus were N43.37 billion. Nigerian investors accounted for N40.73 billion or 48.43 per cent of the total turnover of N84.10 billion recorded during the period.
In the comparable period of January last year, foreign investors appeared less edgy and there were more appetite for Nigerian equities, though the tinge of deficit was also evident then. Foreign inflow was N48.03 billion in January 2015 as against outflow of N51.08 billion. Total foreign transactions stood at N99.11 billion or 52.24 per cent of total turnover of N189.72 billion during the period. Domestic investors accounted for N90.61 billion or 47.76 per cent of total transactions.
The FPI report further highlighted the downtrend that had marked foreign portfolio investments since 2014.
The FPI report uses two key indicators-inflows and outflow to gauge foreign investors’ mood and participation in the stock market as a barometer for the economy.
The NSE report is regarded as a credible gauge of FP’s investments in Nigeria as it coordinates data from nearly all active and major investment bankers, stockbrokers, custodians and other capital market operators.
Foreign portfolio investment outflow includes sales transactions or liquidation of equity portfolio investments through the stock market while inflow includes purchase transactions on the NSE.
The 12-month foreign portfolio investment report for 2014 shown that foreign portfolio outflow was N846.53 billion as against inflow of N692.39 billion in 2014, representing a net deficit of N154.14 billion.
In 2013, total foreign inflow was N531.26 trillion compared with outflow of N510.78 trillion, leaving a positive balance of N20.48 billion.
In earlier preview for the investment market in the year, the NSE had noted that uncertainty and volatility dominate forecast for the New Year and beyond as Nigeria struggles with commodity price shocks and the resultant impact on the Naira.
“The downturn from 2015 has already continued into the New Year. Accordingly, we anticipate 2016 to be a challenging year for the capital market and the domestic economy,” NSE stated.
News
Microsoft Revamps Copilot in Workplace AI Push

Microsoft has rolled out a new set of features for its Microsoft 365 Copilot platform, including tools for complex, multi-step work and deeper research tasks, as competition in workplace artificial intelligence (AI) intensifies.

The update introduces Copilot Cowork, a capability aimed at handling long-running tasks across Microsoft 365 applications.
The feature is being made available through the company’s Frontier programme, which typically gives early access to experimental tools.
Microsoft is also integrating technology linked to Claude – an AI model developed by Anthropic –into Copilot, signalling a broader shift toward using multiple AI systems within a single product rather than relying on a single model.
Jared Spataro, chief marketing officer for AI at Work at Microsoft, says the company is positioning Copilot as a system embedded directly into workplace software, rather than a standalone tool.
“Microsoft 365 Copilot is your AI for work,” he says, adding that it draws on multiple AI models and is integrated into existing workflows.
Alongside this, Microsoft has upgraded its Researcher feature, which is designed to analyse information from multiple sources and generate structured reports.
A new “Critique” function separates the drafting and review process between different AI models – one generates an initial response, while another evaluates and refines it.
The company says this approach improves output quality, with Researcher showing gains on its internal benchmark for accuracy, completeness and objectivity.
Another addition, called Model Council, allows users to compare outputs from different AI models side-by-side, highlighting differences in responses and reasoning.
The updates form part of what Microsoft calls “Wave 3” of Copilot, as it pushes to embed generative AI deeper into enterprise software. The move reflects a wider industry trend towards combining models from multiple providers, including OpenAI and Anthropic, to improve performance and reliability.
News
Dangote Refinery Debunks Speculations on IPO

Dangote Petroleum Refinery and Petrochemicals (DPRP) has debunked recent circulation of unauthorised information regarding a potential Initial Public Offering (IPO).

In a statement, DPRP noted that several online platforms and unofficial sources have published unverified, and in some instances inaccurate, information relating to a potential offering.
“Such reports do not originate from DPRP and should be treated with caution. All official updates regarding any potential transaction will be communicated strictly through DPRP’s formal public disclosures and announcements issued by its appointed advisers, in line with applicable laws and regulatory requirements.
“Accordingly, the public, investors, and all market participants are strongly advised to disregard speculative commentary and rely solely on verified information formally issued by DPRP or its authorised representatives,” the statement said.
The firm assured stakeholders that, when appropriate, comprehensive, and accurate details regarding any proposed transaction will be made available through official channels, including regulatory filings, authorised press releases, and coordinated communications by the Enterprise and its appointed advisers.
News
Descasio Launches “Give to Gain” Leadership Insights Report, Hosts Executive Brunch for Women in Leadership

In celebration of International Women’s Day, Descasio hosted an intimate executive brunch bringing together distinguished women leaders from its customer community for a thoughtful conversation on leadership, partnership, and shared growth.

Centered around the 2026 International Women’s Day theme, “Give to Gain,” the gathering created space for accomplished women in enterprise leadership to reflect on mentorship, collaboration, and investing in people as key drivers of sustainable growth.
Held in Lagos, the event convened leaders from organizations including Honeywell Group Limited, Finchglow Travels, NGCOM, and Eroton Exploration & Production Company.
Guests were personally welcomed at the start of the gathering by Mr. Dele Nedd, CEO of Descasio; who greeted each of the women leaders and expressed his appreciation for their presence before leaving the session to allow the women lead the conversation among themselves.
The gesture reflected Descasio’s leadership culture; one where women are not only recognized, but actively supported and empowered. It also underscored the company’s belief that meaningful progress in leadership requires partnership and allyship across the organization.
Rather than a traditional panel discussion, the brunch was designed as a candid and reflective exchange among peers navigating leadership in complex industries. Throughout the conversation, participants shared perspectives shaped by experience, responsibility, and the realities of leading teams and organizations.
A recurring theme in the discussion was the role of execution and accountability in leadership. For many organizations, strategy alone is not enough; consistent delivery is what ultimately builds credibility and trust.
Reflecting on this, Josephine Adebola, Data Compliance & Process Automation Manager at Finchglow Travels, emphasized the importance of reliability in leadership and the discipline required to translate vision into results. “Get it done on time and in full.”
The conversation also explored the role of curiosity and continuous learning in shaping effective leaders. In rapidly evolving industries, the ability to ask questions, remain open to new perspectives, and keep learning is often what enables leaders to grow alongside their organizations.
Sharing her perspective, Tomi Otudeko, Chief Operating Officer at Honeywell Group Limited, reflected on how curiosity has shaped her leadership journey.
“Asking questions and continuously learning have always stood me in good stead as a leader.”
She also spoke about the importance of leading with empathy and understanding the people behind the roles within organizations.
“Everyone has multiple dimensions to who they are. Leadership has taught me to see people in their totality. That awareness doesn’t make a leader weak; it makes them more effective.”
Another important theme that emerged from the conversation was authenticity in leadership. In an environment where leaders often face pressure to conform to traditional expectations, remaining true to one’s identity while continuing to evolve is essential.
For Helen James-Eziashi, General Manager at NGCOM, authenticity and curiosity remain key guiding principles. “Be yourself, keep learning, and stay curious.”
The discussion also highlighted the role of self-awareness in sustaining leadership journeys, particularly in complex and high-responsibility environments. Understanding one’s values, motivations, and support systems often becomes the anchor that allows leaders to navigate uncertainty with confidence.
Reflecting on this, Ifeanyi Onyejekwe, IT Manager at Eroton, emphasized the importance of knowing what grounds a leader.
“Know who you are and understand what supports and sustains your leadership journey.”
According to Descasio, the event reflects its broader commitment to building strong partnerships and fostering meaningful leadership conversations across its enterprise customer community.
“For us, this was about more than marking International Women’s Day,” said Umama David-Ogebe, The HR Manager at Descasio. “It was about creating a space where leaders could learn from one another and reflect on the kind of leadership that builds strong organizations. The most meaningful partnerships grow from conversations like these.”
To extend the impact of the discussion, Descasio has published “The Give to Gain Leadership Report: Insights from Women Leading Enterprise Organizations,” a curated publication capturing key reflections and leadership lessons shared during the session.
The report highlights themes including:
- The role of curiosity and continuous learning in leadership
• Building stronger teams through empathy and accountability
• The importance of authenticity and self-awareness in navigating leadership journeys
• How investing in people drives stronger partnerships and resilient organizations
The Give to Gain Leadership Report is now available for download Here.
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