News
And the World is Shrinking
An often trotted out phrase – is that of the world today being a ‘Global village’…
What is meant by this is that where once we resided, both in actions, thoughts, interactions, relationships (commercial, social and/or religious) and engagement – within our immediate, geographical, social and relative circles and environment – now we are dispersed, far-flung in our travels, search for knowledge, betterment, riches, love; – you name it.
We are also by our very nature (to varying levels of effectiveness of interaction), brought into contact with others of different values, cultures understandings, awareness, consciousness.
And through these interactions – we acquire (not ‘gain’; more about that later) knowledge, new experiences, insights, exposure – and that most valued of modern-day ‘currency’, Knowledge Capital…
That is not to mention those, who for whatever reason(s), – be they social, knowledge, business and commercial reasons – have sought us out – either in our own country, or to wherever we have pitched up all over the world.
So, how do we connect, communicate, and share with others, this wealth of knowledge, opportunity – and new insight…?
We COMMUNICATE…
We are social creatures, human beings – we need to communicate, share, interact…
In meeting that biological, DNA-based need, we generate a drive to provide, share, review and respond to (or apply) information.
We do this in a variety of ways and media that has been afforded this (in varying degrees – depending on where we are, what is available and accessible – and what we can afford)…
– Mobile communications – spread of GPRS & 3G platforms, infrastructure and services by Mobile Network Operator’s to coincide with the growing proliferation of similar level devices, PDAs and phones by the increasingly (albeit slowly) sophisticated demands and expectations of their existing and new subscriber base…. reflects the change in strategy in terms of growing subscribers from the incumbent voice-based revenues to more data- and services-based models for revenue growth and customer acquisition and increasingly important – retention.
– Internet platforms for sharing between peoples widely dispersed… E.g.: On-line portals, Web-enabled services and applications, eCommerce sites, Social network sites – text, updates, jokes, pictures, comments, opinions, concerns, goods and services, advice, information…
– Broadcast – witness the growing spread of Nollywood film & movie content on various UK & US Pay-TV and the education (or information) provided to others (non-Nigerians) as to the culture, hopes, lifestyles, aspirations of the Nigerian people.
As to its truth – how really ‘reflective’ is it of the ‘Nigerian way of Life’…? Well, let’s just say that neither Hollywood nor Bollywood – the other dominant film & TV genres that have gone before it, truly reflect the societies and communities they came out of – nor should they be taken as a full-poster ad for those societies.
However, they do provide a form of insight, a sometimes colourful presentation of what is possible, on offer and the richness of the Nigerian spirit, energy drive and passion – however that may manifest itself… (We are, like all others, human after all…)
So, there we have it – the various forms of [mass] communication technology available – be they at home or abroad…
With mobile being the most pervasive, accessible and mobile (by it is very nature ); internet being the most interactive, resilient in data capacity, delivery capability and interactivity, not to mention [TV] broadcast being the most visually stimulating, interactive and evocative in its own right, any individual, community, organisation or enterprise seeking to reach this audience has a rich variety of tools at its disposal to communicate, reach and influence its target and intended audience…
In Europe (the UK particularly) and North American markets at the moment, convergence has been the buzz word for past 4 – or 5 years, with organisations from Media broadcasters, MNOs and publishing houses increasing (via growth, acquisitions, mergers, joint ventures, etc.) the range of tools and Communication platforms by which they are able to offer their services, reach their customers – and add revenues and profits to their bottom line…
Convergence is the technology-driven Strategy of combining various communication technology platforms and Content Delivery mechanisms under on enterprise (more often ‘branding’ – witness VirginMedia in the UK) umbrella.
The premise behind the logic has been simple – the more tools we have to reach the increasingly segmented and niche markets that the previously homogenous market had broken down into, the more effective and ‘in context’ the presentation of our offerings and revenues – and thus the more productive and relevant it is to the client/user/subscriber/viewer – and thus generates revenues and profits to us.
So … what tool do we use – and how best do we use it…?
is a technologist, Business strategist and Principal of MediaMango. MediaMango is a leading Media Content Aggregator & Distributor with its focus on the delivery of African–desired and derived content to the principal markets of Sub Saharan Africa, Europe & North America to service the African Diaspora populations & demographics. With a wealth of experience and expertise in the broadcast, media and ICT industries, MediaMango operates a multi-platform and convergence strategy model, leveraging capability, expertise, consultancy and content capability on Mobile, Internet and Broadcast platforms and channels.
Ekanem also writes a blog,
http://fifthcapital,blogspot.com,[email protected]et
Ekanem
News
NGX Unveils Net-Zero Plan for Greener Capital Market

Nigerian Exchange Limited (NGX) has launched the NGX Net-Zero Programme to guide listed companies toward clear carbon reduction pathways and enhanced climate disclosures aligned with global investor standards.

NGX
The high-level launch engaged chief executives of quoted firms alongside development partners including German Investment Corporation KfW, DEG, and African Foresight Group (AFG), NGX’s implementation partner. Issuers and investors discussed financing decarbonisation, sustainability practices, and attracting climate-aligned capital.
NGX Group Chairman Dr Umaru Kwairanga described the initiative as concrete climate action, commending partners for two years of groundwork. “Today marks leadership and decisive action. Climate change has become a core business imperative, with capital markets mobilising capital and setting standards,” Kwairanga said.
He positioned NGX Net-Zero to support emissions measurement, disclosure, capacity building, and sustainable finance access, urging CEOs to embrace it strategically rather than as compliance. Kwairanga reaffirmed NGX’s goal to make Nigeria’s capital market Africa’s green finance hub.
Group CEO Temi Popoola called climate action a business imperative, noting sustainability-embedded firms attract capital, manage risks, and stay competitive. DEG Management Board Member Monika Beck highlighted partnerships scaling impactful, commercially viable climate solutions.
The event closed with a ceremonial gong marking the programme launch and send-off for outgoing DEG Regional Director Bernd Telemann.
News
Nigeria Off EU High-Risk Money Laundering List in Major Financial Win

Nigerian Financial Intelligence Unit (NFIU) has hailed Nigeria’s removal from the European Union’s list of high-risk third countries for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) as a landmark achievement endorsing the nation’s reform efforts.

Nigerian Financial Intelligence Unit (NFIU)
NFIU CEO Hafsat Abubakar Bakari said the delisting, contained in European Commission Delegated Regulation (EU) C (2025) 8460 adopted December 4, 2025 and effective January 29, 2026, affirms sustained AML/CFT and Counter Proliferation Financing (CPF) reforms.
The move follows Nigeria’s exit from the FATF Jurisdictions under Increased Monitoring after addressing strategic deficiencies, alongside Burkina Faso, Mali, Mozambique, South Africa and Tanzania.
Bakari noted the European Commission recognised Nigeria’s strengthened AML/CFT effectiveness, closed technical gaps, and fulfilled FATF Action Plan commitments leading to grey list removal in June and October 2025.
The delisting eliminates enhanced due diligence requirements for EU financial transactions, easing compliance, boosting cross-border flows, and enhancing Nigeria’s appeal for European trade, investment and partnerships.
The NFIU attributed success to President Bola Ahmed Tinubu’s political will and collaboration among National Assembly, law enforcement, regulators, judiciary, private sector and development partners.
The agency reaffirmed commitment to ongoing FATF, GIABA, EU engagement and domestic framework resilience to maintain international confidence in Nigeria’s financial system.
News
FG Directs Banks, Fintechs to Remit VAT on Service Fees

The Federal Government has directed all banks and fintechs to collect and remit 7.5 per cent value-added tax on certain electronic banking services, effective Monday, January 19, 2026, according to an email notice issued by payment platforms.

The VAT will apply to electronic banking charges, including mobile money transfers, USSD transaction fees, and card issuance fees, according to an email notice on Wednesday shared with customers by Moniepoint.
For example, if a bank charges N100 to make a transfer, the 7.5 per cent VAT will be applied to that service fee, not the money being sent.
“From Monday, January 19, 2026, we are required to collect a 7.5 per cent VAT, to be remitted to the Nigerian Revenue Service (formerly known as the Federal Inland Revenue Service).
“VAT will apply to certain banking services that include electronic banking charges such as mobile banking fees (transfers), USSD transaction fees, and card issuance fees,” the email read.
Other operators are expected to issue similar notices to their customers in the coming days. Services that will remain exempt include interest earned on deposits and savings, meaning customers will not pay tax on the returns from their accounts.
The NRS, formerly known as the Federal Inland Revenue Service, has set the deadline to ensure that all commercial banks, microfinance banks, and electronic money operators comply with the collection and remittance requirement.
Moniepoint stressed that this is not a price increase but a statutory obligation. “Moniepoint is required to collect and remit VAT to the Nigerian Revenue Service,” the company said in a statement.
The move is part of the government’s broader efforts to standardise VAT collection on digital financial services and expand revenue generation amid Nigeria’s growing digital economy. VAT on banking transactions is not entirely new; the NRS is now enforcing uniform collection rules across all platforms, ensuring compliance across the sector.
Customers have been assured that the new tax will be clearly itemised, with the VAT shown separately on transaction statements and reports.
In December, several commercial banks informed customers that the N50 stamp duty would be deducted on electronic transfers of N10,000 and above, following the commencement of provisions of the new Tax Act.
The charge, previously known as the EMTL, has now been formally reclassified as stamp duty and will be applied as a one-off fee on qualifying electronic transfers.
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