E-Business
ARCON’s New Law has Prevented N120bn Capital Flight Annually – Buchi Johnson
The new advertising regulation law, which transformed the Advertising Practitioners Council of Nigeria (APCON) to Advertising Regulatory Council of Nigeria (ARCON) has been applauded by some practitioners in the country as one of the best initiatives by the government to the advertising industry in Nigeria.
Buchi Johnson, Chief Ideas Officer Lilvera Group
One of the leading practitioners in the industry and chief executive officer of Lilvera Group, Mr. Buchi Johnson in a recent chat with the media stated that the new law setting up ARCON has prevented a capital flight to the tune of N120 billion.
According to him, “The law provides that, with effect from January 1, 2023, advertisers must use a cumulative 75% of local content in all ads and marketing directed at the Nigerian market. This is exciting because the country has been losing about ₦120 billion annually due to capital flight in the sector where ads targeted at Nigerians were produced externally creating jobs in other economies but not in the targeted economy, Nigeria.”
Mr. Johnson said, this law is expected to create over 500,000 jobs annually. So, this will lead to more multinational brands using Nigerian talents, agencies, and producers in commercials targeted at the Nigerian market.
“On a personal note, I look forward to Lilvera playing a key part in ensuring that the quality that these multinational brands get from local agencies is at par if not even higher than the quality they would get elsewhere,” he said.
Speaking on Lilvera’s audacious moves to make a giant stride in the industry, the CEO of Lilvera mentioned that the agency has designed an effective tool to aid its execution and implementation of clients’ briefs. The tool is tagged 5Rs which simply represents responsiveness, relevance, receptivity, recognition and relationship.
On the potency of this tool, Mr. Johnson said “Our focus is to continue to deliver on the 5Rs that drive Integrated Marketing Communications such as Responsiveness: ensuring rapid and high-quality response to clients’ needs, Relevance: keeping our client communications highly targeted and relevant, and Receptivity: maintaining open communication lines with clients”.
He further stated that “Recognition is about prioritizing brand building and distinction to keep Lilvera the preferred brand for integrated marketing communication in the Nigerian market for multinational and local businesses and Relationship: we are nothing without the key relationships we have with our team, vendors, and clients so this is a vital area of focus for us in 2023 and beyond.”
Highlighting some landmark accomplishments of the agency, he said perfection eludes humankind yet we strive for it and will accept nothing less than the perfection that is within our reach at Lilvera. “So, we deploy every resource within our capacity to ensure the very best outcomes for our clients and our business.
“Our achievements in the last year are testament to the hard work and creativity of our team, the trust of our clients, and, of course, God’s grace and favour.
“We acknowledge Him as our helper and source for everything, even the inspiration that we receive to deliver a great experience to clients.”
He stated that “One area where we definitely need to keep growing is customer relationship management. We have built great client relationships in the past years of our business that we must continue to deepen, and we look forward to building new relationships that we will nurture, grow, and blossom.
Our clients are at the heart of our business so we will continue to focus on this area to ensure the very best experience for them as they continue to choose us for their integrated marketing communication projects,” he added.
The integrated marketing communications industry particularly, the agencies take pride in the awards they have won or the recognition given to them during the course of doing business for their clients. Johnson believes that Lilvera deserves every bit of the accolade showered on it and its minders.
According to him, “It does feel great to be recognised by notable organisations both locally and internationally. Some of the awards we received in 2022 are the Most Client Focused Marketing Agency of the Year – Africa by Global Business Awards; the Industry Influencer Award for Experiential Marketing at the Industry Summit Awards 3.0; and the African Prize for Leadership Excellence under the Experiential Marketing Personality Leadership Prize Category
“We are grateful for these awards and see them as propellers for our business because they challenge us to keep setting the pace, raising the bar, and bringing value to the industry. For us, the way we project ourselves is important to our productivity which is why we take first impressions seriously as this sets the tone of the relationship that follows.
Our team of highly trained professionals understand this too. So, we showcase our intelligence, professionalism, and confidence in how we handle businesses from the first meeting, earning your trust. As you know, trust is the new gold. Then, beyond that first meeting, our strong commitment to building value for our clients ensures that we maintain a high standard of excellence and professionalism in every aspect of the services we render.”
Buchi Johnson however said that his personal goal is to support and nurture startups around the world or globally by using or managing IMC to build profit.
Though the election has come and gone, Mr. Johnson who spoke about the impact of Central Bank of Nigeria cash swap policy and the general election on imc industry said that “We understand that the policy is designed to move the country forward in terms of managing inflation, reducing fraud, and stabilizing the economy. To this end, we support the move and enjoin the government to ensure a smooth transition to the new cashless society that we are building.”
Data plays some key roles in taking marketing decisions and according to Johnson, data is so vital to the IMC industry.
He said, “I see its impact being far reaching in how stakeholders plan and execute campaigns” adding that “Without the right data companies would be unable to take full advantage of the existing opportunities. Furthermore, IMC campaigns would struggle to deliver the most relevant content and offers across all channels to the right target audiences.”
Data plays an important role in IMC because it influences how businesses allocate budgets, how agencies target consumers, and the effectiveness of campaigns. Any player in this space that seeks to win in 2023 and beyond must pay attention to key insights presented by data trends, he enthused.
Predicting 2023 for the industry, CEO of Lilvera revealed that there will be post-pandemic growth and the new ARCON law will help retain at least 75% talents in the industry.
“I see exciting times ahead with the post-pandemic growth continuing as well as the new law requiring businesses to produce at least 75% of their marketing content locally.
“My advice to players in this space would be to position for growth, build capacity to deliver excellent services across the board, and maintain a high standard of quality in team management, service delivery, and customer relationship management,” he said.
Identy.io, a United States-based cybersecurity and mobile biometric authentication company, has announced plans to process one billion biometric identity verification transactions in Nigeria within the next few years as digital banking adoption continues to expand across the country.
The company said increasing demand for secure digital identity systems within the banking, telecommunications, and public sectors is creating fresh opportunities for biometric authentication solutions, especially as financial institutions strengthen compliance and anti-fraud measures.
Speaking at an executive roundtable on mobile biometric innovation in Lagos, Jesus Aragon, chief executive officer, Identy.io, said Nigeria’s fast-growing digital financial services sector requires more reliable and scalable identity verification technology to support customer onboarding and transaction security.
He explained that the company’s mobile biometric solution enables users to verify their identities directly from their smartphones without depending on physical scanners, external devices, or centralized processing infrastructure.
The technology supports fingerprint and facial verification while functioning effectively in areas with limited internet connectivity.
According to Aragon, the platform is designed to integrate with Nigeria’s Bank Verification Number (BVN) system and the Nigeria Inter-Bank Settlement System (NIBSS), allowing financial institutions to carry out secure remote identity authentication.
He stated that the company’s technology includes liveness detection and deepfake identification features capable of detecting fake fingerprints, manipulated images, masks, and other fraudulent identity attempts during digital onboarding processes.
The Identy.io boss added that the company’s offline verification capability distinguishes it from several existing solutions in the market, noting that biometric authentication can be completed entirely on users’ mobile devices without constant internet access.
He further disclosed that biometric information captured during authentication remains on the user’s device instead of being transferred to external servers or centralized databases, reducing exposure to data breaches and cyberattacks.
Industry stakeholders at the roundtable also discussed the increasing pressure on Nigerian banks to improve customer verification processes following stricter regulatory directives by the Central Bank of Nigeria on Know Your Customer (KYC) compliance and fraud prevention.
Participants noted that agency banking operations in rural and low-connectivity locations continue to face security and onboarding challenges, creating demand for stronger and more flexible authentication systems.
Aragon maintained that biometric authentication could significantly reduce fraud associated with passwords and one-time passwords (OTPs), stressing that biometrics provide stronger identity assurance for financial transactions.
The company also confirmed that it has expanded its footprint across Africa, Latin America, and the United States, with operational presence already established in Nigeria and Kenya.
Aragon expressed confidence that Nigeria’s banking and telecom industries would generate massive biometric verification volumes in the coming years as financial inclusion and digital payment systems continue to deepen nationwide.
TD Africa, in collaboration with Hewlett Packard Enterprise (HPE) Operated by Selectium, hosted a high-level partner engagement event on May 14, 2026, focused on emerging trends shaping the future of enterprise networking and infrastructure transformation.
TD Africa
The engagement brought together key partners to explore how organisations can build smarter, faster, and more secure network infrastructures capable of supporting today’s rapidly evolving digital economy. Central to the discussions was the growing relevance of WiFi 7 and the shift from traditional networking models to intelligent, AI-driven infrastructure ecosystems.
As businesses continue to accelerate digital transformation, conversations at the event centred on a critical question: Is your infrastructure ready for the speed of transformation? From edge-to-cloud connectivity and IoT integration to AI-enabled networking and advanced security frameworks, the session highlighted the increasing demand for agile, scalable, and resilient enterprise solutions.
Speaking at the event, Dr. Ifee Kojo, Country Manager, HPE Operated by Selectium, highlighted HPE’s commitment to helping organisations modernise their infrastructure and navigate the future of connectivity. “HPE is driving transformation across the entire technology ecosystem, from the data centre to the edge, from IoT to AI-powered connectivity.
“Our focus is on helping businesses strengthen security, improve scalability, and build intelligent infrastructures that support innovation and growth.
“Through our strong partner TD Africa, we can extend these solutions more effectively into the market, ensuring organisations have access to the right technologies needed to compete and thrive in a rapidly evolving digital world,” she said.
Also speaking, Chioma Chimere, Coordinating Managing Director at TD Africa, emphasised the importance of future-ready networking in enabling business resilience and long-term digital growth. “Networking today is no longer just about connectivity; it has become the backbone of enterprise transformation.
“As organisations embrace AI, cloud environments, remote operations, and data-driven systems, the need for secure, intelligent, and scalable infrastructure becomes even more critical.
“TD Africa is committed to ensuring our partners are equipped with the right technologies, insights, and support needed to navigate this shift successfully.
“Our collaboration with HPE reflects our shared commitment to helping businesses modernise confidently and prepare for the future of digital innovation,” she stated.
Through strategic collaborations with global Original Equipment Manufacturers (OEMs) like HPE, TD Africa continues to strengthen its position as a key distributor of enterprise and networking solutions across Africa, enabling partners and organisations to access cutting-edge technologies backed by technical expertise, market reach, and ecosystem support.
E-Business
Jumia Nigeria Records Strong Q1 2026 Growth as Technology-Led Strategy Drives Market Expansion
Jumia has announced strong first-quarter 2026 performance results, with Nigeria emerging as one of the company’s standout growth markets across Africa, reinforcing the country’s position as a critical driver of the company’s long-term expansion strategy.
According to the company’s Q1 2026 financial results released May 7th, 2026, Nigeria recorded a 42% year-on-year increase in physical goods Gross Merchandise Value (GMV), making it one of Jumia’s strongest-performing markets during the period.
Commenting on the performance, Temidayo Ojo, CEO of Jumia Nigeria, said, “Nigeria continues to demonstrate the strength and resilience of its digital commerce ecosystem. The growth we recorded in Q1 reflects increasing consumer confidence, stronger engagement across our platform, and our continued investment in technology, logistics, and customer experience.”
“We are seeing more Nigerians embrace e-commerce not just for convenience, but as a trusted part of everyday life. Our focus remains on building a platform that is more accessible, more reliable, and more relevant to the evolving needs of Nigerian consumers and sellers,” Ojo further mentioned.
The company attributed its broader growth trajectory to disciplined execution, operational efficiency, and increased deployment of technology and AI-driven systems across its operations.
According to the report, Jumia leveraged artificial intelligence and automation across operations, finance, customer support, cybersecurity, seller management, logistics, and technology teams to improve service quality while reducing operational costs company-wide.
The company also noted that technology and content expenses declined year-on-year due to ongoing headcount optimisation and savings from renegotiated technology contracts, while operational leverage continued to improve. They further highlighted increased use of AI tools among its technology teams, alongside automation in call centres and operational systems, as part of efforts to scale sustainably while improving efficiency across African markets.
Across the platform, Jumia reported significant gains in customer retention and marketplace engagement. Quarterly Active Customers reached 2.5 million, while physical goods orders climbed to 5.9 million in Q1 2026.
The company also expanded usage beyond major urban centres, with 62% of total orders now coming from secondary cities and upcountry regions, emphasising the growing reach of digital commerce across Africa.
Despite global economic pressures, including rising memory chip and CPU prices and supply chain disruptions linked to ongoing Middle East conflicts, the company reaffirmed its path toward profitability. Jumia stated that it remains on track to achieve Adjusted EBITDA breakeven and positive cash flow in Q4 2026, with full-year profitability targeted for 2027.
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