General News
Azentio Awarded AAOIFI’s Certificate of Compliance for iMAL™ R14.5

Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds advised by Apax Partners, has announced that iMAL™ R14.5, the latest version of the company’s Islamic core banking platform, has successfully completed the annual certification review for the year 2022 by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), the world’s leading Islamic finance standard-setting body.

This certification is tangible proof of Azentio adhering to existing and newly issued AAOIFI Shari’ah and Financial Accounting Standards for the recently acquired iMAL™ R14.5 by Azentio.
“AAOIFI is here to protect the integrity of the global Islamic finance industry through the means of standardization of best practices in the areas of Shari’ah, accounting, auditing, governance, and ethics.
“We are pleased to complete the review of the version 14.5 of iMAL™ for the year 2022 to ensure its compliance with AAOIFI’s Shari’ah and Financial Accounting Standards”, commented Omar Mustafa Ansari, Secretary General, AAOIFI.
“By following and implementing AAOIFI standards in the right manner, we believe iMAL™ is mitigating Shari’ah non-compliance risks. Our continued collaboration is a testament to Azentio’s ongoing commitment of following best practices not only for itself but also for its clients which are the world’s leading Islamic financial institutions”, Ansari concluded.
Mohammed Kateeb, Global Head of Islamic Banking and President of Middle East & Africa at Azentio, said, “For our core banking platform iMAL™ new version to be certified by AAOIFI, the world’s principal standard-setting body for Islamic finance, reflects our ongoing commitment to creating a truly differentiated value proposition.
The latest advancement in financial technology has posed unprecedented challenges for incumbent Islamic banks to remain competitive. We are combining advanced technologies with deep knowledge of Islamic finance and embedding this into our new platform to help our clients transform, accelerate innovation, and achieve operational efficiency, while providing Shari’ah compliance assurance to the Islamic financial services ecosystem.
We ensure a compliance mindset in our design and development efforts, and continuously challenge ourselves to provide a unique platform that meets or exceeds the needs and expectations of our clients, always complying with the AAOIFI and Shari’ah rules”.
iMAL™ core banking platform is the world’s leading and preferred Shari’ah-compliant, digital-first, advanced and scalable software with open banking capabilities for modern Islamic financial institutions.
Designed to allow Islamic banks to scale quickly using cloud or traditional infrastructure, the proven and trusted platform that is both flexible and cost efficient is the first choice for major Islamic banks setting up for growth. iMAL™ helps Islamic banks of all sizes reduce risk and improve profitability with the ability to launch a diverse range of innovative products rapidly, well ahead of the competition.
General News
NERC Orders DisCos to Refund ₦20.33bn Meter Costs to Customers

Nigerian Electricity Regulatory Commission (NERC) has ruled in favor of electricity consumers, directing distribution companies (DisCos) to refund ₦20.33 billion in outstanding costs for meters bought under the Meter Asset Provider (MAP) framework.

NERC
Signed on February 27, 2026, by NERC Chairman Musiliu Oseni and Commissioner Dafe Akpeneye, Order No. NERC/2026/025 amends a 2023 directive.
It requires DisCos to disburse the funds via energy credits over 12 months starting March 1, 2026, addressing years of slow refunds.
As of December 31, 2025, DisCos owed this amount due to delays in reimbursing prepaid customers who funded their own meters.
DisCos must automate credits for the full MAP meter cost upon activation, disbursed monthly over 120 months based on the customer’s tariff—credits cannot offset legacy debts.
Prepaid customers will receive a monthly token by the 4th day equivalent to the reimbursement value; for arrears, they’ll get two tokens per month.
Postpaid customers will see a distinct credit line on bills subtracted from totals, with two line items monthly for arrears.
NERC mandates monthly reports on reimbursement values using an approved template, plus dedicated email channels for complaints with resolution status included.
The order aims to end delays, improve notifications, and boost sector trust. DisCos must accelerate arrears recovery over 12 months without further excuses.
This follows NERC’s February 2026 compliance review, amid ongoing power sector challenges highlighted by Power Minister Adebayo Adelabu.
General News
NCDC Raises Alarm over Lassa Fever Ravaging 18 States in Nigeria

Nigeria Centre for Disease Control and Prevention (NCDC) has raised alarm over ravage of Lassa fever cases across 18 states and 67 Local Government Areas (LGAs) of the country.

Dr Jide Idris, director-general of NCDC, in statement yesterday, said that Bauchi, Ondo, Taraba, Edo and Benue accounted for more than 80 per cent of confirmed cases recorded during the 2026 peak transmission season.
Idris, described as particularly worrisome the growing infections among healthcare workers, with 28 confirmed cases and three deaths reported so far this season.
NCDC attributed the sustained transmission and rising fatalities to operational gaps at the state level, urging urgent action to strengthen outbreak response and control measures.
According to Idris, field investigations showed most transmissions were occurring in known endemic areas, but weak implementation of established response frameworks had contributed to the continued spread and higher case fatality rate.
He said that gaps identified include infections in general outpatient and maternity settings, poor adherence to Infection Prevention and Control (IPC) protocols, and inadequate pre-positioning of Personal Protective Equipment (PPE).
He added that delayed patient presentation due to financial barriers, inconsistent activation of State Incident Management Systems, weak contact tracing, persistent stigma and poor isolation centre standards were also driving transmission.
Idris emphasised that outbreak response implementation and health service delivery fell primarily under state governments within Nigeria’s federal structure, urging them to strengthen accountability and resource allocation.
He called on affected and high-risk states to urgently activate and closely monitor their Incident Management Systems, ensuring timely coordination and efficient outbreak response at all levels of healthcare delivery.
He also urged the immediate release of response funds, strict enforcement of Infection Prevention and Control (IPC) compliance in public and private health facilities, and continuous availability of PPE and other critical supplies.
The NCDC boss also advocated accelerated financial protection mechanisms to reduce late presentation and high fatality rates, alongside institutionalised rodent control and environmental sanitation measures under a One Health approach.
He advised healthcare workers to maintain a high index of suspicion and adhere strictly to IPC guidelines.
He also urged the public to keep environments clean, prevent rodent entry into homes, store food safely and seek early medical care when symptoms appeared.
Idris noted that Lassa fever was treatable, with improved outcomes when detected early, adding that Nigeria was also responding to other epidemic-prone diseases including Cerebrospinal Meningitis, Diphtheria, Mpox and Cholera.
He reiterated NCDC’s toll-free emergency line, 6232, for reporting suspected cases and obtaining further information
General News
Lagos Deploys Drones, AI to Boost Traffic Response
The Lagos State Traffic Management Authority (LASTMA) has deployed a number of real-time digital solutions, including surveillance drones, GPS-enabled patrol vehicles, and automatic incident detection software.
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The agency has also established a central command and control centre to reduce emergency response times and improve traffic safety throughout Lagos.
According to the agency, the digital transition will replace manual reporting and fragmented coordination with an integrated, data-driven platform capable of instantaneously detecting, verifying, and dispatching responders to crashes and breakdowns.
According to general manager Olalekan Bakare-Oki, LASTMA, body cameras, mobile data terminals, and toll-free hotlines now feed into a unified operations hub that gives real-time visibility of traffic situations across the state.
Incidents detected by digital surveillance are validated in real time and dispatched to the nearest patrol team using GPS tracking, while officers are instructed via modern communication devices.
According to the agency, the system has eliminated delays caused by poor event reporting and logistical constraints, enabling faster diversions, quicker clearance of accident scenes, and better coordination with medical and security agencies.
Field commanders and rescue teams now operate on synchronised data networks, allowing immediate decisions that reduce secondary crashes and prolonged congestion.
According to LASTMA’s 2025 operational summary, the agency rescued 1,075 people from crash scenes, and impounded 17,169 vehicles for various traffic violations across Lagos through its toll-free hotline.
These figures reflect how timely reporting and coordinated response have already reduced secondary accidents and eased congestion, according to the agency.
It went on to it achieved this with the toll-free reporting system, body cameras, and field coordination networks but with the newly deployed suite of smart technologies, the agency’s impact is poised to multiply.
Bakare-Oki said the upgrade aligns with the state’s smart-city agenda, positioning LASTMA as a technology-enabled public safety agency and laying the groundwork for faster, more reliable mobility management on Lagos roads.
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