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Courier Companies Not Happy With Illegal Operators-Olufade

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Toyin Olufade, president, Association of Nigerian Courier Operators (ANCO) has immense knowledge of the courier industry having cut his teeth in DHL for nearly two decades. Olufade breathes sleeps and speaks with passion about the industry.

He is also the managing director of Swift Courier limited, a company founded in 1997 and today a frontrunner in the sector. Olufade spoke to Emeka Okafor on a wide range of issues.

Courier and Economic Development

I would want to say that as at today, the industry itself is just about 30 years old in Nigeria and it is still emerging. It is a growing industry and we expect it to contribute its own quota to the development of the economy of the country. Courier is what people call air express, movement of sensitive document at a rapid rate from one origin to a destination within the country or outside. Therefore, if you are talking about industrialization, the courier industry plays a prominent role. If you are talking about express document, you need courier and that implies that information can begin to move from one place to another at a very fast rate. We utilize the air, the road and the sea and that means we contribute to the development of the transport industry. Apart from that, do not forget we also utilize utilities. In this case we are talking about motorcycles, cars, trucks and we are a very high demand sector for these equipment. When you talk about employment, we have a lot of people employed in courier companies. If you believe that registered courier companies are about 240 in Nigeria at the moment, then you can imagine the number of employees in that sector. It is expected that each courier company should have at least five offices nationwide; so you can imagine the number of people in each office. So, it is a very big industry and we are still tracking the throttle. As it is on the international scene, a lot of courier companies have airlifts of their own but we are limited here. If you look at it in general, the courier industry, the air express sector, logistics sector, which all come under the same umbrella, contribute in the development of the economy.

Experience as ANCO President

You see, they say uneasy lies the head that wears the crown. Right now, it is an evolving association. We are just about 4-5 years in the making and we thank God that we are duly recognized. Our mandate was handed over to us by Chief Cornelius Adebayo, immediate past communications minister, who was very supportive. That was some two and half years ago and since then, we have been waxing strong. The ideal is to promote the industry, to coordinate the activities of the courier industry and to ensure that we deliver service to the customers and clients alike. As for followership, we encourage our members, each registered and licensed courier company; that is registered with the CAC and licensed with the Courier Regulatory Department (CRD); to become a member so that we can have a vision of how to further develop the industry by contributing our quota in an organized, coordinated method and procedure. So far, we are making our impact and we are trying to coordinate it with other stakeholders in the industry. We work with the Shippers Council; we work with airfreight people, the commerce ministry, the embassy, so that we can have a coordinated approach to service delivery. Well, it has been good and membership of ANCO now ranges between 50-55 members. People are becoming aware of the need to come together to fashion a way forward, especially with the challenges that exist. The association in recent past has made its own input into other national assignments. We have been invited to several for a where we were asked to deliver papers and make our own input into those other organized private sectors. So, things have been working well for ANCO and we are actually asking other people whom we are hooking up to, to come together so that we can determine the way forward for the sector.

Illegal Operators

The funny thing is this, as you find a means of curbing their activities, they device another. It is an unending battle. But we are not relenting. Many thrive on illegality, they want to cut corners as to avoid due payment to government; and also cheat unsuspecting customers. The battle has been on by the courier regulatory body and we give them our one hundred percent support. As a matter of fact, in the last meeting we had with the regulatory body, we told them we were even prepared to go on raiding rounds with them so as to express our support. Let it be known that registered courier companies are not happy with the illegal conduct of others because the truth of the matter is; it keeps the industry in a bad light because if one company errs it is like every other company has done wrong and we want to clear negative impressions. We are professionals, adequately and well trained to offer optimum quality service to the country. Yes, illegality exists. You will be surprised that every person believes that he can run a courier service. It becomes a matter of just give me the letter and I will take it there. As such you find road transporters, the airlines and individuals running courier service from the booths of their cars in car lots, no fixed address. It is really dangerous for the industry and we give our support to the CRD in the current fight to correct the illegality.

ICT and Courier Sector

ICT and courier work together because we are talking about information processing. For instance, in courier we have what is called ‘Track and Trace’. That is, if you hand over your documents to me, it means you will be able to process it and know where it is at any point in time until it is delivered and of course, you cannot do that by word of mouth. It is information that is fed into information devices. For the industry itself, it also advertises us. If you have a website, people know where you are and you can feed them with information about you at any time. I have received calls through the internet from people and associations trying to find out about certain companies and it was easy for me to give them information or ask them to visit the companies’ websites. See, it makes life easier. So, ICT is very crucial to courier and I know by the way we are going; there will be further development between ICT and the Air Express industry.

Postal Reform

We should not talk much of postal reform because that is more of the public sector postal system. The postal system is not operating on the optimum currently but it is to our own advantage because it has helped us to move forward too. If it were effective, what would have happened to courier? But we have to step up ourselves and be able to deliver on time. The postal reform is necessary in Nigeria because the country is one of the poorest corresponding countries in the world. We do not write much and as a matter of fact, we do not even read. We need to improve on our communication at the postal sector which will rub off on the courier industry. As for the postal commission, it is what we the private sector operators and stakeholders agitated for. We really believe that it is an unfair practice to have a player regulating. There is no way he can be justified and we want to say that ANCO is impressed by the way things are going. We feel that it should even have been considered by the Senate at the moment but I believe it is already there and they are looking at it and probably thinking whether to make further submissions. We are eagerly looking forward to the establishment of the postal commission which will regulate and guide the operations of the postal sector.

Expectations from the Commission

We expect that there will be a more coordinated approach to service delivery and at the moment we have a sole regulator whose sole responsibility is to ensure that the consumer gets the best service which means that there will be more competition and effectiveness on service delivery and people will demand more from us. It will also affect pricing, time delivery and ways in which we offer services. It can even give rise to categorization because we will then begin to specialize. We are looking forward to its implementation so that consumers can begin to experience the effects.


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Top Nigerian Startups Secure Funding Boost @ iHatch Demo Day Awards

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Nigeria’s startup ecosystem received a fresh injection of momentum as top emerging ventures secured funding and investor attention at the iHatch National Demo Day, where Interface Africa clinched the highest prize of $15,000.

The 4th cohort of the NITDA–JICA-backed accelerator brought together founders, policymakers, and venture stakeholders in Abuja, showcasing innovations ranging from clean-energy financing and digital food marketplaces to next-gen fintech tools.

The startups went rounds of running through state-level selections and regional competition. iHatch was established in 2021 as a strategic partnership to create an enabling environment for young Nigerians to develop and scale their innovative solutions.

The iHatch National Demo Day (4th Cohort), is an initiative by NITDA and JICA which provides a clear pathway for homegrown talent to contribute significantly to economic diversification and digital transformation.

After rigorous selection processes, the top founders converged to pitch their innovations, recognised the standout performers, which are:

Interface Africa with $15,000, the firm is driving Nigeria’s clean energy transition by enabling structured and affordable solar financing.

Ahioma with $12,000, the firm enhances food accessibility with a digital marketplace connecting consumers directly to trusted vendors.

Linia Finance with $10,000, the firm is helping Nigerians take control of their finances with tools for budgeting, tracking, and smart money planning.

Chapta got a laptop reward. They delivering an offline-capable school application ensuring consistent, accessible learning for students everywhere.

Softdrop also got a laptop reward, they solve logistics challenges through a modern delivery platform designed for speed, convenience, and efficiency.

 


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Fidelity Bank to Host Virtual Masterclass on New Tax Law

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Fidelity Bank Plc, a leading financial institution, will host a free virtual training on the Nigeria Tax Act 2025 (NTA) as part of its commitment to helping small businesses prepare for the upcoming legislation.

Fidelity Bank to Host Virtual Masterclass on New Tax Law

Fidelity Bank

The masterclass is scheduled for 10:00 AM (Nigerian time) on Friday, 12 December 2025. It will provide participants with clear insights into changes in the tax framework, the impact on income and business operations, and practical steps to avoid penalties in 2026.

Attendees will also learn strategies to stay ahead in an evolving regulatory environment.

The Nigerian government enacted major tax reforms on 26 June 2025 when President Bola Ahmed Tinubu signed four tax bills into law.

These Acts will take effect on 1 January 2026 and represent a significant overhaul of the country’s tax system.

The reforms aim to modernize and harmonize Nigeria’s tax framework, improve revenue generation, broaden the tax base, and create clearer rules for individuals, businesses, and government agencies.

“Our decision to host this masterclass reflects our commitment to empowering businesses with the right information ahead of the commencement of the new tax regime.

“Information is money and a well-informed business owner is already steps ahead in the race to success.

“This is why we are bringing experts to provide accurate details and demystify the tax act,” said Osita Ede, Divisional Head, Product Development, Fidelity Bank Plc.

Interested participants can register via https://bit.ly/2026TaxLawMasterclass .


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PalmPay MD Seeks Deeper Financial Inclusion @ CeBIH Annual Conference 2025

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L-r: Chika Reginald Nwosu, Managing Director, PalmPay; Tunde Ogundipe, Co-Founder & Chief Executive Officer, E-Doc Online; Emezino Afigbe, Head, Gender Center for Excellence, Enhancing Financial Innovation and Access (EFInA); Ronke Kuye, CeBIH Advisory Council; Dr. Badamasi Lawal, CEO National Social Investment Program; Uche Uzoebo, Chief Executive Officer, Shared Agent Network Expansion Facilities (SANEF); Dominic Wadongo, Chief Risk Officer, SmartCash Payment Service Bank, Nigeria, at the CeBIH Annual Conference recently.
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PalmPay, Nigeria’s leading digital banking platform, has renewed its commitment to deepening financial inclusion across the country. At the CeBIH Annual Conference 2025, themed “Reimagining Financial Inclusion through Cultural Shifts in Consumer Credit,” PalmPay’s Managing Director, Chika Nwosu, urged industry players to deepen financial inclusion by embracing community-aligned solutions and customer-centric innovations that can better serve Nigeria’s underserved and unbanked populations.

Speaking during a panel session titled “Social Inclusion, A Veritable Tool for Financial Inclusion,” Chika Nwosu joined other industry leaders to share insights on strengthening participation among women, rural dwellers, low-income earners, and other financially excluded groups.

Chika Nwosu highlighted PalmPay’s commitment to inclusive finance through its 500,000-strong agent network, which enables seamless cash-in/cash-out services for unbanked users across Nigeria. He also emphasised the importance of PalmPay’s USSD platform, 861#, which allows users with basic phones or limited internet access to perform essential financial transactions.

“Financial inclusion goes beyond access; it must be equitable and tailored to real-life needs,” Chika Nwosu said. He shared how PalmPay leverages behavioural insights to design impactful services, including affordable health insurance, reliable bill payments, merchant solutions, and automated savings features that support financial discipline among users.

The session further examined the role of grassroots agents and community touchpoints in driving last-mile adoption. Chika Nwosu noted that PalmPay’s widespread community presence continues to build trust and encourage excluded populations to embrace digital financial tools.

The session was moderated by Ronke Kuye of the CeBIH Advisory Council and featured representatives from E-Doc Online, SmartCash Payment Service Bank, SANEF, and EFINA.

PalmPay reaffirmed its commitment to driving accessible, secure, and inclusive financial services for all Nigerians. PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.

PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.

Since launching in Nigeria in 2019 under a Mobile Money Operator license, the platform has grown to over 35 million app users. PalmPay has operations in Nigeria, Ghana, Tanzania, and Bangladesh.


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