General News

Courier Industry Holds Key to Vision 20:2020-Bichi

Published

13 years ago

April 25, 2013

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Sule Bichi is the managing director, Red Star Express Plc, a licensee of Federal Express Corporation (FEDEX). He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a member of the Institute of Directors (IoD).
He had a stint with Aminu Ibrahim & Co. before moving to the Board of Internal Revenue in Kano.
Bichi later joined UAC Nigeria Plc as a Management Trainee in 1988 from where he was seconded to Unilever International Audit, and later moved to ICON Ltd (Merchant Bankers) as Treasury Officer before joining Comet Merchant Bank, where he rose to head of Foreign Operations in 1995.
He later worked as Operations Manager with UBA Kaduna South branch from where he joined Red Star Express in 1998 as the Assistant General Manager Finance.
He later became the Executive Director, Finance & Administration; Deputy Managing Director and a member of Finance & Budget Committee. He is also a Director, of the three subsidiaries of Red Star Express. He spoke to peter ugwu on ways to achieve industrial growth in Nigeria.

Building Enterprise like Red Star Express
It has been interesting. First of all, I want to clarify that Red Star is an indigenous company operating under the license of Federal Express Corporation (FEDEX); a US based company which is more than 40 years old.
Red Star is the one that recently celebrated 2 decades of doing business in Nigeria. Building enterprise like Red Star Express in Nigeria is a thing that we expect more of such.
Nigeria’s economy is still evolving and going by the size of the population and resources, it is a country that should have more companies establishing businesses that will help the economy grow.
No doubt, there are teething problems, but we had to rise above that by seizing opportunities that come up in any sector of the economy.
We must start with the development of Small and Medium Enterprises (SMEs) moving to individuals coming together to build mega corporations.
As it is now, our companies are not so big. Very few are playing at the international arena.
So, we need companies that will grow and play in the global economy. That is the only way we can breakthrough and emerge as one of the 20 economies in the world.

Red Star Increase in Turnover In 20 years of Operation
Some people may want to tag it a magic for the company to have achieved that, but it was not a magic. Although considering the industry, it is a growth, because no other courier company in Nigeria has been able to achieve that.
But N5 billion is not that huge when we start placing Red Star against other big companies.
Yes, our philosophy is people-service-profit (PSP). We concentrate more on the people, because they are the ones who deliver the service to customers.
Thus, the turnover is good, but when you change the money to other currencies like the USD or GBP you will discover it is still meagre. So, we are still in the SMEs bloc.
But in Nigeria, you could say it is an achievement owing to the fact that the courier industry is still growing.
There were companies that started same time with us, but have either closed shop or are managing to survive.
We are moving on because we have competent and dedicated workers. They understand the dynamics of the industry and how to create value for the customers.

Consultative Selling Skills Training
Like I said earlier we place emphasis on people right from inception. We not only select competent people from different sectors of the economy, we try to expose them to best trainings.
The Consultative Selling Skills training is just one of the trainings we have for our sales professionals.
We have a functional faculty were we send our people for training. As part of our policies, every staff is expected to clock minimum of 16 hours every year on training.
Staff training is something we cannot do without; it provides platform to re-assess the staff and train them on the trends of practice.
It is part of building the brand. When people are trained and well taken care of it leads to co-operation and productivity.
In all aspects of our business, operations, finance, corporate governance, leadership, we receive training.

Security challenges and Courier Business
Insecurity is highly impacting on every business in the country. Of course you need to take care of your workers.
As a committed firm we have to do all within our powers to ensure our customers, in any part of the country, are safe.
The truth is that we spend more money presently on security; we take extra measures to ensure the workers are not endangered and working with security agents also.
We try as much as possible to observe pronouncements made by the government, because they have full responsibility to secure lives and property in the country.
They know more than we do. In all, we make sure that our people are not exposed to unnecessary dangers.

Innovation In Red Star With The Acquisition Of An Airside Facility
Having an airside facility is another way to facilitate smooth running of our business. We are licensee of FEDEX; a global leader in logistics business and present in more than 220 countries, shipments into Nigeria come through the international airport, so to make it easier and faster for clearing we acquired the airside.
That will facilitate clearing and ensure security is apt. At the same time, it will aid the operations of some government agencies at the port like the customs.

Automation of Red Star Operations, Especially the Newly Acquired Facility
We utilize a lot of ICT components in line with the global practices. From our associate FEDEX we take queue on the use of ICT to facilitate commitments to our customers.
The customer needs to know the whereabouts of his shipment at every point in time. To ensure accountability and disseminating of information, we need to embrace ICT- the internet.
The devices are helpful from time of departure of the cargo from the other end to arrival here in Nigeria, the sorting hub and final delivery to the customer.
When we place these data on our tracking and tracing facility, our customers can just log onto the website, include the tracking number and have details about a particular shipment.
From our side, we use ICT for faster sorting of the shipment and informing our people on a particular shipment.
We have invested so much in hardware, software and networking. ICT is like a partner in progress; we cannot do our work efficiently without the deployment of ICT.

Handling Phishing of Mails Sometimes Associated with Cargo Tracking
It is our responsibility to safeguard the shipment and information associated with it. Similarly, the customer has the responsibility; when a person gives us parcels for shipment, we generate the tracking number and it is the customer’s responsibility to safeguard it.
Once you key in the tracking number via the internet the status of the shipment will be revealed to you.
In a situation where the customer gives out the number to another person, probably, to help him check, that may amount to compromising the security of that package. It is just like any bank account.

Diversifying Into Passenger Transportation
Our business is on delivering cargo and logistics services. Passenger transportation is not part of our logistics business.
Our big brother, FEDEX, in US has over 675 aircrafts, 99% of those aircrafts are for cargo. For now, our business is logistics and we will concentrate on that.
However, the peculiarity of the Nigerian environment may dictate something different, which I am not ruling out completely.

Courier Industry In Nigeria
The industry faces a lot of challenges starting with the running cost to infrastructure. For instance, the condition of roads in the country affects us immensely.
We distribute some of our items by road using heavy duty trucks, vans, lighter vans and motorcycles, the deplorable state of the roads are impacting on our fleet.
The costs of maintaining them, purchase of spare parts are increasing and the life spans are reducing. Secondly, the power supply; the courier companies operate 24hours every day.
So, when people are working you need power, especially since our work with ICT is interwoven, we cannot do without power.
Due to the country’s population for you to be an effective courier company you need to be present in every urban centre. In those areas, you must provide power.
You can imagine the size of back up that we deliver. In some places, the back ups are running more than the national grid. In that cost of buying generators and powering them is enormous.
Thirdly, the airports; not all airports operate at night. Thus, the state of the aviation industry impacts on our services.
For instance, when we have many aircrafts moving to various locations, especially in the morning and in the evening, we find it easier to put our items on them.
But where we do not have much aircrafts and some of the airports are not operating 24 hours it adds to our costs of doing business and not all airlines are flying to the destinations that we deliver goods and services.
The other aspects of transportation like the railway; although there is a recent development when the Federal Government restored the Lagos-Kano route, now that it has started, we pray that it continues reaching other areas.
As a logistics company that will assist us a lot. These minimize our capacities and put huge constraints on us and increase costs of doing business.

Using International Benchmarks to Assess Nigeria’s Courier Industry
There are reforms that are in the pipeline spearheaded by the Federal Authorities; especially the news I read in your paper on a Bill being given a nod, which is laudable.
The only thing we are advocating is that, whatever arrangement is made should be in line with the global best practices.
We want to play at the international arena as Nigeria wants to become one of the 20 strongest economies in year 2020. We should have laws that are compatible with that.

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General News

Court Remands Hacker for Allegedly Stealing N3.09Bn from FCMB

Published

18 hours ago

March 25, 2026

Ebere Melum-Nwogbo

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Justice Mojisola Dada of the Lagos State Special Offences Court in Ikeja has remanded, Andrew Odekina, an alleged hacker, who is part of a fraud syndicate that stole N3.09 billion from First City Monument Bank (FCMB).

Justice Dada ordered that Odekina be kept behind bars after he was arraigned before her by the Economic and Financial Crimes Commission (EFCC).

The EFCC informed the judge that the defendant was among the suspects who allegedly carried out a major cyber-enabled fraud that resulted in over N3 billion being siphoned from the bank’s customer accounts.

The anti-graft agency also accused the defendant of retaining proceeds linked to the large-scale hacking operation that targeted some FCMB customers.

The Commission stated that its investigation found cybercriminals had unlawfully accessed the bank’s applications, allowing them to transfer N3.09 billion from various accounts.

Odekina was specifically charged with receiving and retaining N9.87 million, believed to be part of the stolen N3.09 billion, in his FCMB account in 2025.

The offence, according to the EFCC, contravenes the provisions of the EFCC (Establishment) Act, 2004.

The charge states that the defendant, alongside accomplices still at large, knowingly retained control of funds traced to fraudulent digital transactions carried out on the bank’s platform.

The defendant, however, pleaded not guilty to the charge.

Based on his plea, Babatunde Sonoiki, prosecutor, urged the court to fix a trial date and remand the defendant in the custody of the Nigerian Correctional Service pending the conclusion of the trial.

The defendant appeared in court without legal representation.

After listening to the lawyer, Justice Dada adjourned the case to May 11 for trial and ordered that Odekina be remanded to the Kirikiri Correctional Facility.

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General News

SEDC Launches SEVCP to Expand Access to Capital for Startups

Published

18 hours ago

March 25, 2026

Ebere Melum-Nwogbo

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South East Development Commission (SEDC) has launched the South East Venture Capital Programme (SEVCP), to expand access to capital for startups and strengthen Nigeria’s investment landscape.

SEDC Launches SEVCP to Expand Access to Capital for Startups

The Commission said the programme represents a direct institutional response to the federal government’s commitment to expand access to local funding and attract sustained investment into high- growth sectors across South East Nigeria.

It also said that it is part of the developmental initiative by the SEDC as contained in the road map for the region that was presented to the House of Representatives Committee on South East Development.

A statement issued by the commission says the SEVCP is a funded, coordinated, and time- bound intervention designed to catalyse the region’s digital, innovation, and technology ecosystem.

“As part of its initial rollout, the first phase of the program, the South East Pitch Competition, is now officially open for applications. At the core of the program is the South East Venture Capital Fund, a blended finance vehicle designed to mobilise up to $50 million in public, institutional, development finance, diaspora, and private capital into the region.

“SEDC anchors the Fund through the South East Investment Company, its wholly owned investment vehicle, which participates as a Limited Partner. This structure ensures professional fund management, institutional accountability, and alignment with global investment standards,” the statement said.

The commission also said that SEVCP is built as an integrated platform comprising five interlinked workstreams: fund operationalisation, a flagship Pitch Competition, a structured incubation and acceleration programme, a financing partnerships strategy to complete the fund raise, and a network of implementing partners across the region.

“Each component is designed to reinforce the others and ensure continuity from deal sourcing to investment and growth.The South East Pitch Competition serves as the primary entry point into the Fund’s investment pipeline. Thirty startups will be selected across the five states, with twenty placed in the Accelerator Track and ten in the Incubation Track.

“These startups will receive SAFE investments totalling 450,000 dollars in the first cohort. Accelerator participants will receive 20,000 dollars each, while incubation participants will receive 5,000 dollars each. Investments will be milestone-based and structured to balance founder flexibility with investor protection.

“The Pitch Competition Finals is scheduled to take place on 13 May 2026, followed by an Investment Ceremony on 14 May 2026. Selected startups will participate in a structured hybrid incubation and acceleration programme delivered across key locations in the region.

“The South East has long demonstrated strong entrepreneurial capacity, commercial depth, and human capital, the statement indicated. It noted that what has been missing is a coordinated system to channel capital into that capacity at scale, with the structure and governance required by serious investors. The SEVCP provides that system, and the Pitch Competition establishes the first layer of access,” it said.

According the tstatement, applications opened on 13 March 2026 and were originally scheduled to close on 27 March 2026.

“It indicated that the deadline has now been extended to 3 April 2026 to enable broader participation across the region, adding that this will be the final extension.

“The Accelerator Track is open to startups with demonstrable product market fit, active users, and revenue traction. The Incubation Track is open to founders with validated ideas and a minimum viable product. Eligible startups must be based in, operating in, or delivering clear impact within the South East, or be founded by individuals of South East origin with a defined regional focus. All applications must demonstrate a meaningful technology component,” it said.

The commission said that SEVCP represents a long-term commitment to building a structured and investable startup ecosystem in the South East.

“The inaugural cohort will form the foundation of a pipeline that the Commission intends to scale over successive cycles. Founders building within the region, and those looking to build within it, are encouraged to apply before the deadline,” the statement added.

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General News

PIAFo Drives Urgent Call for National Dig-Once Policy to Boost Nigeria’s 125,000km Fibre Network

Published

18 hours ago

March 25, 2026

Ugo Onwuaso

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Key players across Nigeria’s digital economy, telecommunications, and infrastructure ecosystem are set for the National Dig-Once Policy Forum to champion a new course towards increasing Nigeria’s digital backbone network to 125,000km of fibre-optic infrastructure.

PIAFo

The event, which marks the 8th edition of Policy Implementation Assisted Forum (PIAFo), is a high-level industry dialogue aimed at accelerating the formulation and adoption of a National Dig-Once Policy as a critical enabler of safe, coordinated and cost-effective fibre infrastructure deployment in the country.

The forum, themed “Accelerating Nigeria’s Digital Backbone: Dig Once Policy, Project BRIDGE and Strategies for Effective Fibre Deployment,” is slated for Thursday April 16, 2026 at Radisson Blu Hotel, Ikeja GRA, Lagos.

According to the organisers, Business Metrics Limited (BML), the introduction of $2 billion Project BRIDGE initiative by the Federal Government to expand fibre infrastructure by additional 90,000km from 35,000km to 125,000km by 2030 requires some new measures to ensure successful implementation of the ambitious target and avoid mistakes of the past.

Industry stakeholders have identified that the success of a national connectivity backbone rollout depends largely on institutionalising a Dig Once Policy framework, which encourages the installation of fibre ducts and conduits whenever roads, railways, and other major public infrastructure are being constructed or rehabilitated.

According to industry data shared by the Nigerian Communications Commission, lack of such a framework is taking a toll on the telecoms sector and broadband drive as operators recorded over 50,000 fibre cut incidents across the country in 2024, with more than 60 per cent occurring during road construction and rehabilitation activities. These disruptions have resulted in billions of naira in repair costs, network outages, and service degradation.

Telecom operators in Lagos State alone said they spent over N5 billion in 2024 to repair and replace damaged fibre infrastructure in the state, while lamenting that the development continues to slow down network upgrade and expansion drive.

Beyond infrastructure damage, telecom operators also face challenges such as high Right of Way (RoW) charges, uncoordinated civil works, and repeated excavation of roads for fibre deployment.

PIAFo 8.0 aims to address these challenges by fostering collaboration among stakeholders responsible for planning, financing, constructing, and maintaining Nigeria’s digital infrastructure.

Specifically, the forum seeks to align federal, state, and local infrastructure planning around a unified Dig-Once framework; strengthen collaboration between telecom operators, infrastructure companies, and public works authorities; translate policy intentions into actionable guidelines and implementation timelines; and build stakeholder support for Project BRIDGE and complementary national fibre initiatives.

Speaking about the event, Team Lead at Business Metrics Limited, Omobayo Azeez, said Nigeria is being denied access to robust connectivity it should derive from up to eight high-capacity undersea cable networks landed on its shores because of difficulties around terrestrial fibre infrastructure expansion.

“The Project BRIDGE initiative should excite everyone because of ambitious targets. But for those who understand the operating terrain, and why it took the industry over 20 years to achieve around 35,000km of fibre network that the country currently operates for broadband connectivity, the project calls for a major shift in execution approach with the adoption of a National Dig-Once Policy as the starting point.

“PIAFo, now in its 8th edition, is again serving as the viable platform for representatives from government ministries and agencies, senior telecom executives, infrastructure companies, data centre operators, equipment manufacturers, state governments, and industry associations to chart the way forward.”

The forum will feature keynote addresses, expert panel discussions, and strategic networking sessions designed to drive pragmatic outcomes that will accelerate Nigeria’s journey toward a resilient and inclusive digital economy.

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