General News
SAHCOL, NAHCO Assure Clients on Warehouses Shut by NCS
Skyways Aviation Handling Company Limited (SAHCOL), and National Aviation Handling Company Plc (NAHCO), have assured their clients of safety of their cargos.
This came on the heels of the approval by Dikko Inde Abdullahi, comptroller – general, Nigeria Customs Services (NCS) on Tuesday for the closure of two cargo bonded warehouses located at the Murtala Muhammed International Airport (MMIA),
NCS accused the two companies of inability to explain exit of goods from the warehouse without proper documentation and clearance by the Customs and lack of evidence of payment of import duty and other statutory charges by the companies.
Mrs Thelma Williams, public relations officer, Airport Command of the Nigeria Customs Service, disclosed the development and said the action was a follow up to series of meetings between the Customs Area Comptroller Mohammed Dahiru Umar with all Stakeholders, including cargo agents and freight forwarders association.
She said the command acted on the approval of the comptroller general in line with the statutory powers conferred on the Nigeria Customs Service as provided under sections 145(1) (b) and 5 of the Customs and Excise Management Act (CEMA) CAP C45 LFN 2004, (as amended) and other extant regulations.
Williams cited others reasons for the closure of the warehouse such as the attendant loss of revenue accruable to the Federal Government of Nigeria as well as its National Security implications.
She said:” The refusal of the companies to comply has brought about Un-conducive working environment in these warehouses which militates against Officers and Men of the Command discharging their statutory duties effectively.
“Upon the aforementioned contraventions, the Area Command has no other option than to invoke the provisions of Sections 88,96, and 98 (4) (b) of the Customs and Excise Management Act (CEMA) CAP C45 LFN 2004 (as amended) and other extant regulations and SEAL UP the Warehouses to ensure and enforce compliance.”
Mr Basil Agboarumi, head, Corporate Communications of SAHCOL, in his response said that there was no doubt that “we are custodians of the warehouse, no goods can move out of our warehouse without the approval of the Customs.
“However, meetings/discussions are going on between the Handling Companies, Custom Licensed Agents and the Customs to find solution to this”.
Also reacting to the closure, Mr Adesanya Onayoade, head, Corporate Communication of Nahco, said that the company was working with the Customs to enable a sanitization exercise that will ultimately improve service delivery and block all revenue leakages.
He that in the meantime, the Management of Nahco is already in consultations to ensure among others that: Sterile areas in the warehouse are restricted to unauthorized people; only licensed customs agents with access cards are allowed in the warehouse; all forms of touting are eliminated around the Nahco cargo complex; men of the Customs Service are given all support to ensure full compliance with cargo clearing process in the warehouse and all accredited government agencies are given adequate support to ensure security and safety.
He concluded:”We assure all stakeholders that by the time the warehouse is reopened, there will be seamless service delivery, adequate security and less crowd and full compliance with payment of duties by licensed customs agents”.
Nigeria Hydrological Service Agency (NIHSA) has warned of possible floods in parts of Adamawa, Bauchi, Edo, Imo, Enugu, Akwa Ibom, Cross River, Kaduna, Plateau, Niger, Benue, and Borno states within the next seven days.
According to information posted on NIHSA X handle, the Agency announced medium flood advisory in force for the next 7 days across Adamawa, Bauchi, and 11 other States.
“Localised inundation is forecast along the main channel; named communities below sit on the projected footprint. Stations: Saminara on the Karam river, Waya Dam Site on the Waya river, Amber on the Amber river.
“Adamawa; Lemsa, Lamurde, Numan Exposure: 147 comm. 49 schis 40 hith 6 mkts17 relig. Bauchi-Bauchi, Ningi, Shira. Exposure: 4 comm. Kaduna; Chikun, Giwa, Igabi, Jaba, Jema’a, Kachia, Kaura, Kauru, +6 more. Exposure: 1 comm.
“Borno-Gubio, Mobbar. Exposure: 680 comm. 8 schls 6 hith 5 mkts 21 relig. Edo-Akoko-Ed, EtsakoEa, EtsakoWe, Ikpoba-Okha, Orhionmw, OviaNort, OviaSo.. Exposure: 3 comm.
“Imo-Aboh-Mba, Oguta, Ohaji/Eg, Okigwe, Owerri North, Owerri West. Exposure: 3 comm. 7 more states affected and severity LGAs”.
NIHSA advised people in the affected areas to “do NOT cross flooded roads, bridges, or fast-moving water on foot or by vehicle.
“Clear drainage channels and river-mouth blockages; avoid building or living in the floodplain and move people, livestock and valuables from the floodplain to pre-identified higher ground,” NIHSA stated.
General News
First Trustees Advocates Estate Planning as an Essential Tool in Every Wealth Creation Strategy
First Trustees Limited, a subsidiary of FirstHoldCo Plc., and a leading provider of fiduciary and trusteeship services in Nigeria, is encouraging individuals, professionals, entrepreneurs, and investors to view Estate Planning not as an end-of-life exercise, but as a strategic investment tool for protecting, preserving, and transferring wealth across generations.
As more Nigerians focus on wealth creation through businesses, real estate investments, and other income-generating assets, experts are emphasizing that building wealth is only one part of the equation.
Equally important is creating structures that ensure those assets remain protected, properly managed, and seamlessly transferred to succeeding generations in accordance with the asset owner’s wishes. Importantly, Estate Planning is not solely for the wealthy, it is a prudent step for anyone with assets, dependants, or a business to protect, regardless of age, profession, or net worth.
Speaking on the importance of Estate Planning, Ereifemi Akeredolu, Managing Director/CEO, First Trustees Limited, noted that Estate Planning should be considered a core pillar of every long-term financial strategy.
“Many people focus on creating wealth but give litle thought to preserving it. Estate Planning is a wealth protection strategy that helps individuals safeguard their assets, secure their family’s future, and ensure that the value they build today continues to benefit future generations.”
Using tools such as Trusts, Wills, and advanced succession plans, individuals can build structures that support wealth preservation, business continuity, asset protection, and intergenerational wealth transfer.
For entrepreneurs and business owners, Estate Planning serves as a powerful tool for ensuring business sustainability, helping organizations remain stable and operational regardless of unforeseen circumstances.
First Trustees continues to emphasize and educate on the importance of Estate Planning as a comprehensive strategy for proactive planning. It remains one of the most important financial decisions an individual can make: it provides clarity, minimizes uncertainty, and protects assets from unnecessary erosion and disputes. It also creates financial security for loved ones, supports business succession and continuity, and facilitates long-term investment and legacy planning.
General News
Nearpays, Nigerian Fintech Becomes First African Startup to Win UN’s AI for Good Innovation Factory
Nearpays, Nigerian fintech, has won the AI for Good Innovation Factory grand finale — the first African startup ever to take the global title in the competition, which runs as part of the United Nations’ AI for Good Global Summit.
The competition drew more than 500 startups worldwide, each pitching AI solutions aimed at social and economic challenges.
The summit itself is organised by the UN through the International Telecommunication Union (ITU) in partnership with several UN agencies, convening governments, researchers, startups, and technology companies around AI’s role in development.
Nearpays’ route to the title ran through Johannesburg, where it won the African regional competition, before advancing to the global finals in Geneva.
There, the company progressed through the semi-finals and claimed the grand finale — a first for the continent.
The company describes the win as bigger than a corporate milestone, calling it a victory for African innovation and proof that technology built to solve local problems can compete, and win, on the world stage.
Nearpays was founded to close a stubborn gap in African payments: small and medium-sized businesses that can’t afford or access traditional point-of-sale terminals.
Cost, availability, and deployment hurdles have kept many merchants — particularly in rural and underserved communities — locked out of digital payments.
Its answer is SoftPOS: an AI-powered platform that turns compatible Android smartphones into payment acceptance devices, letting merchants take contactless card payments with nothing more than their phones. AI is embedded across the platform, supporting payment processing, compliance, fraud detection, and business operations.
Crucially, the platform was built for African infrastructure realities — it works both online and offline, so merchants can keep accepting payments even without internet connectivity.
The company credited its team’s years of product development and customer engagement for the result, and thanked the UN, the ITU, and the AI for Good initiative for building a platform where innovators can apply AI to real-world problems.
It also said it hopes the win encourages more African founders to build technology that answers local needs while competing internationally.
For Nearpays, the title closes one chapter and opens another, as the company pushes on with expanding digital financial infrastructure across Afric
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