News
Concerns as Chinese Importers Smuggle $300m Rosewood Logs from Nigeria
Environmental Investigation Agency (EIA) in its recent reports has revealed that over 1.4 million illegal rosewood logs from Nigeria, worth $300 million, were laundered into China.
The reports by EIA described illegal rosewood logs from Nigeria as one of the largest timber smuggling operations in history, as multiple sources told EIA undercover investigators that over $1 million was paid to top Nigerian officials to release the wood stopped by Chinese authorities.
The reports say that thousands of permits were ultimately signed by the then Minister of Environment, Mrs. Amina J. Mohammed, who currently serves as Deputy Secretary General of the United Nations (UN).
The results of a two-year investigation by EIA, the Rosewood Racket details the journey of illegal African rosewood, also known as kosso, from the remote forests of Nigeria beset by illegal logging to luxury furniture boutiques in China, despite protections placed on this threatened tree species by the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).
Over the past five years, the exploding Chinese demand for kosso has triggered a series of “boom-and-bust” cycles that led to the depletion of forests across West African nations. In most of the countries, kosso has been illegally logged in violation of harvest and log export bans, including in protected areas. Precious trees have been laundered into the international market through regional smuggling routes, using mis-declaration and falsification of official documents. The boom began in Gambia and Benin, but as the supply in those countries was exhausted in a few short years, the Chinese traders rapidly moved on through other countries in the region before settling on the one offering the largest untapped resources – Nigeria.
Since 2013, Nigeria has been transformed from a net importer into the world’s largest exporter of rosewood logs, and is to date one of the top wood exporters on the continent.
The unprecedented and uncontrolled level of logging across the country is causing desertification, putting in peril the livelihoods of millions of people, and threatening national parks and endangered emblematic species such as the most vulnerable chimpanzee (Pan troglodytes ellioti) in the world.
Kosso was added to Appendix II of CITES in 2016, meaning that logging and trade must be strictly controlled and kept at sustainable levels. The results of the new EIA investigation show that the enforcement of the convention faces serious challenges when dealing with transnational criminal networks. The report shows how Sino-Nigerian criminal networks took advantage of an obsolete and opaque permitting system to launder illegal wood using CITES paperwork.
Alexander von Bismarck, EIA Executive Director, explained that, “as a legally binding treaty ratified by nearly all members of the UN, CITES can play a critical role in protecting endangered trees and fragile forests. The international community needs to urgently bring transparency to the CITES permitting process to fight the organised criminals that profit from the extinction of endangered species.”
Mrs. Mohammed was reportedly supposed to start her new position as Deputy Secretary General of the UN on January 1, 2017, but extended her time as Minister of Environment at the request of the Nigerian President Muhammadu Buhari to complete important responsibilities. EIA investigators found that Mrs. Mohammed signed thousands of retroactive CITES permits in January 2017 as one of her last acts as Minister of Environment, and just before she was sworn in as the Deputy Secretary General to the UN.
The permits were used by Chinese importers to release over 1.4 million illegal logs that had been detained at the Chinese border for months, after having left Nigeria in violation of both Nigerian law and international CITES obligations.
Von Bismarck added that, “the power and reach of organised timber criminals in forest rich countries is overwhelming if illegal wood is allowed to be sold overseas without consequences. This is why we urgently need regulatory changes in consuming countries to stop timber shipments based on evidence of being illegally logged, transported or traded. Such laws have already been passed in the US and the EU. This case shows that China has the ability to take action when it stopped thousands of containers of illegal rosewood. But the fact that the wood was ultimately released shows that China urgently needs domestic legislation to ban the import of illegally sourced wood.”
New data from CFA Society Nigeria is reshaping how the country’s financial sector thinks about talent development, with Access emerging as the single largest source of CFA candidates in Nigeria, distinction industry watchers say signals a deeper shift in how leading institutions are building investment expertise from within.
In its Where Nigeria’s Finance Professionals Work series, published in a national daily, CFA Society Nigeria placed Access first among employers of CFA candidates nationwide, with 82 candidates enrolled in the programme, more than double the 38 recorded at the next-placed institution and well ahead of every other bank or financial services firm on the list.
Access also ranked second among employers of CFA charterholders, with 11 professionals who have completed all three levels of the Programme and met its experience and ethics requirements.
For an industry that has long measured itself by balance sheet size and branch count, the rankings point to a different kind of competition: one over who is building the deepest bench of certified, globally credentialed talent.
CFA Society Nigeria compiled the data from its Salesforce Membership Database as at June 2026, and described the exercise as a way of recognising employers whose people “bring rigour, integrity and global best practices into the workplace every day.”
Analysts following the sector say the outcome is notable less for the ranking itself than for what it suggests about talent strategy across Africa’s financial services industry. A single institution developing more aspiring charterholders than the rest of the market combined raises the floor for professional standards nationally, not just within one balance sheet.
Every candidate who advances through the CFA Programme adds to a shared pool of ethics-trained, analytically rigorous professionals that Nigeria’s capital markets, pension funds and asset managers all eventually draw from.
Access Holdings Group Chief Executive Officer Innocent C. Ike, commenting on the rankings, framed the achievement in terms of institution-building rather than recruitment: “Every candidate on that list represents our commitment to building institutions and professionals that endure.”
The remark echoes a broader thesis increasingly voiced by market observers, that talent depth, not scale alone, is what will determine which African financial institutions earn lasting global credibility.
That distinction sits at the centre of Access’s stated ambition to become the World’s Most Respected African Financial Services Group. If the CFA numbers are any indication, the Group’s route to that goal runs less through square metres of branch network and more through the calibre of the people sitting inside it, a bet that Nigeria’s finance professionals, and the institutions that will one day hire them, are already placing alongside Access.
Nigeria Civil Aviation Authority (NCAA) has announced plans to introduce Radio Frequency Identification (RFID) baggage tracking technology across domestic and international airport terminals to tackle the growing problem of delayed, misrouted and missing luggages
Michael Achimugu, director, Public Affairs and Consumer Protection, NCAA, disclosed this at a stakeholder engagement forum in Lagos.
Achimugu said the RFID-enabled system would replace the traditional barcode-based baggage tracking framework and provide airlines and passengers with real-time visibility of checked luggage from check-in to final collection.
According to him, the technology would improve baggage traceability, reduce mishandling and strengthen accountability across the baggage-handling chain.
Unlike conventional barcode systems, RFID technology allows baggage to be automatically scanned at multiple points without requiring direct line of sight, enabling real-time tracking of luggage throughout its journey.
Achimugu said issues involving short-landed, missing, lost or damaged baggage had remained among the major complaints from air travellers, alongside flight delays.
He said the introduction of RFID technology was therefore aimed at improving baggage-handling standards and restoring passenger confidence in the aviation sector.
The NCAA said the initiative also aligns with IATA Resolution 753, which requires airlines to track baggage at key points during the passenger journey.
The authority expects the technology to provide more accurate information on the location of luggage, facilitate quicker resolution of baggage-related complaints and improve the overall passenger experience.
The NCAA said the initiative would also strengthen accountability among airlines and other stakeholders involved in baggage handling at Nigerian airports.
eTranzact International Plc has called for increased adoption of digital payment solutions among micro, small and medium enterprises (MSMEs), saying access to technology is critical to improving business efficiency, financial inclusion and growth.
The company also said it was deepening its partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to expand digital access and financial literacy among small businesses across the country.
In a statement, the Divisional Head, Merchant Services, eTranzact, Mrs. Abimbola Reis, stated this at the SMEDAN/eTranzact Town Hall Engagement in Lagos recently, themed, “Financial Literacy and Inclusion for MSMEs Leveraging on Fintech Innovation.”
Reis described MSMEs as the backbone of Nigeria’s economy, noting that the sector comprises almost 40 million businesses and contributes significantly to economic growth and job creation.
However, she said many businesses continue to face challenges including limited access to finance, inefficient payment systems, weak financial reporting, cash-flow constraints and inadequate access to digital platforms.
She added that trust concerns also affect businesses’ ability to access finance, while heavy reliance on cash increases exposure to theft and makes payment reconciliation more difficult.
Representing the Director-General of SMEDAN, Prof. Yinka Fisher said the town hall was aimed at generating practical ideas and solutions that would support the growth and expansion of MSMEs.
“The essence of this engagement is to share ideas and concepts that will help MSMEs thrive and expand. Our partnership with eTranzact is about expanding the frontiers of MSMEs and ensuring they continue to grow,” he said.
Also speaking, representative of the Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dr. Praise Adedigba said businesses could no longer depend solely on hard work to remain competitive.
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