General News
Bill on Customs Reform Passes 2nd Reading
The thrust for a review of the Nigeria Customs Service operations gathered momentum at the lower the National Assembly recently, following the lower chamber endorsement of the Customs Bill to go for a second reading. Apparently, the bill seeks to consolidate in a single reference document, the NCS legal authorities, which are dotted in multiple legislations. It also aims to bring the Customs and Excise Management Act (CEMA) of 1958, in line with the modern day reality. Leading the debate on the bill to repeal the Customs and Excise Management Act (2004) amendment and also reform the administration and management of Customs and Excise in Nigeria, Hon Leo Ogor, deputy majority leader, House of Representative, observed that the CEMA did not provide for the establishment of the NCS. According to him, the NCS operated within scattered legal framework and supporting laws, as well as legal notices meant to complement the existing laws. “CEMA does not provide a proper legal basis for applying important international agreements relating to customs procedures,” he said. Ogor added that an initial gap analysis of CEMA conducted in 2009 found the law to be severely lacking with respect to the World Customs Organisation’s revised Kyoto Convention. However, the bill, if passed into law, would substantially enhance revenue generation and facilitate trade in the country. According to Ogor, a transparent situation would require all enabling laws guiding the operations of the service to be consolidated in one document, hence the need to repeal the existing legal structure for the NCS to fit in the contemporary practices. Hon Dakuku Peterside while speaking on same vein affirmed that if reformed, operations of the Nigeria Customs Service would improve and revenue generation would also increase. He said that the reform would bring sanity to the modalities for collecting revenue not backed by the existing law. However, Andrew Uchendu moved that issue of governing council for the service should be examined at the committee level to do away with bureaucratic bottlenecks. He stressed that retaining the office of the Minister of Finance as the chairman of the council still pitches the NCS on bureaucratic ground. “We should give the headship of the board to an experienced Nigerian,’’ he said. The bill was subsequently referred to the House Committee on Customs for further debate and other actions which may include a public hearing soon.
General News
NIHSA Warns States of Possible Flood within Seven Days

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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