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CWG Assures Shareholders of Sustained Growth

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The management of CWG Plc has assured shareholders who invested in the company of sustained growth, stressing that it has made significant strides in delivering innovative products and platforms in payments over the years.

At the Annual General Meeting (AGM) held recently in Lagos, shareholders approved a dividend per share of 4.0 kobo while commending the board and management of CWG for improving the company’s fortunes, despite the challenges.

Addressing the shareholders, Chairman CWG  Mr. Philip Obioha, said the group recorded remarkable performance in 2022 as it consolidated the gains of its investments in its payment platform and subscription service businesses.

He outlined that the group made significant strides in its businesses in the past year, including onboarding four new banks on its Finedge Core banking application platform on a subscription service basis while also driving its “infrastructure as a service” business with the addition of new customers to its subscribers’ list.

He said the company has continued to make significant investments in its Datacenter offerings to provide the required infrastructure needed to support its platform business, adding that the group has also been making giant strides in its energy metering business as it achieved a 600 percent revenue growth when compared to the previous year.

“Within the year, our company established a new fintech organization named Fifthlab. Fifthlab has an ecosystem of advanced but simple solutions focusing on delivering innovative products and platforms in payments and banking to address the identified gaps.

He also spoke about the newly established Dubai entity, part of the group’s expansion plan that offers entry into a growing market with a supportive environment for innovation and development. “We are confident that the investments and efforts put into the new organization/ businesses will yield significant returns starting from the 2023 financial year,” Obioha said.

He assured shareholders that with the resumption of dividend payments, the board and management of the group would work to ensure unbroken dividend payments annually. “The board is committed to working with management in deploying the group’s assets judiciously and profitably to maximize shareholders’ return,” Obioha said.

Mr. Adewale Adeyipo, Managing Director and Group CEO of CWG Plc, said the group’s performance in 2022 demonstrated its business strength and enthusiasm for achieving success.

He noted that key performance indices reached five-year highs in 2022, which underlined the group’s commitment to doing the right things at the right time for its business and customers, which helped foster growth across its regional centers .

“We have stepped up our ability to innovate, adapt to new ways of doing business, renewed and repurposed our commitment to service excellence as well as listening to our customers to provide customized superior value to them,” Adeyipo said.

According to him, the group achieved 99 percent of its 2022 strategic objectives focusing on product optimization, service excellence, and business operation.

He pointed out that CWG has proven its dexterity in unlocking success for new ideas, consistently driving up its bottom line, and sustaining value for stakeholders through investments in its flagship products and services. He outlined that the group recognizes that achieving its goals requires significant investments, so it is committed to exploring financially viable investment options in 2023.

He added that the group is also embarking on several commercialization and financing strategies to bring its technology and products from concept to market.

He noted that at the heart of the company’s strategy lies a commitment to its people, its expertise at scaling opportunities, increasing revenue, and operational efficiency while effectively minimizing costs.

“We are excited about the possibilities that the future holds, and we remain steadfast in our mission to leverage technology to drive sustainable development in Africa and beyond. “We are confident these efforts will yield significant returns to our investors and stakeholders,” Adeyipo said.

He pointed out that the company has started the new business year positively, assuring shareholders that it would build on its successes and pursue new opportunities for growth and innovation.

The audited report and accounts for the year ended December 31, 2022, showed that the CWG recorded 21.3 per cent growth in total turnover, and gross profit rose by 31.4 per  cent over 2021. While earnings before tax increased by 20.3 per cent. The group’s total assets grew 58.4 per cent from N9.17 billion in 2021 to N14.53 billion in 2022.


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Dangote Refinery Debunks Speculations on IPO

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Dangote Petroleum Refinery and Petrochemicals (DPRP) has debunked recent circulation of unauthorised information regarding a potential Initial Public Offering (IPO).

Dangote Refinery Debunks Speculations on IPO

In a statement, DPRP noted that several online platforms and unofficial sources have published unverified, and in some instances inaccurate, information relating to a potential offering.

“Such reports do not originate from DPRP and should be treated with caution. All official updates regarding any potential transaction will be communicated strictly through DPRP’s formal public disclosures and announcements issued by its appointed advisers, in line with applicable laws and regulatory requirements.

“Accordingly, the public, investors, and all market participants are strongly advised to disregard speculative commentary and rely solely on verified information formally issued by DPRP or its authorised representatives,” the statement said.

The firm assured stakeholders that, when appropriate, comprehensive, and accurate details regarding any proposed transaction will be made available through official channels, including regulatory filings, authorised press releases, and coordinated communications by the Enterprise and its appointed advisers.


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Descasio Launches “Give to Gain” Leadership Insights Report, Hosts Executive Brunch for Women in Leadership

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In celebration of International Women’s Day, Descasio hosted an intimate executive brunch bringing together distinguished women leaders from its customer community for a thoughtful conversation on leadership, partnership, and shared growth.

Centered around the 2026 International Women’s Day theme, “Give to Gain,” the gathering created space for accomplished women in enterprise leadership to reflect on mentorship, collaboration, and investing in people as key drivers of sustainable growth.

Held in Lagos, the event convened leaders from organizations including Honeywell Group Limited, Finchglow Travels, NGCOM, and Eroton Exploration & Production Company.

Guests were personally welcomed at the start of the gathering by Mr. Dele Nedd, CEO of Descasio; who greeted each of the women leaders and expressed his appreciation for their presence before leaving the session to allow the women lead the conversation among themselves.

The gesture reflected Descasio’s leadership culture; one where women are not only recognized, but actively supported and empowered. It also underscored the company’s belief that meaningful progress in leadership requires partnership and allyship across the organization.

Rather than a traditional panel discussion, the brunch was designed as a candid and reflective exchange among peers navigating leadership in complex industries. Throughout the conversation, participants shared perspectives shaped by experience, responsibility, and the realities of leading teams and organizations.

A recurring theme in the discussion was the role of execution and accountability in leadership. For many organizations, strategy alone is not enough; consistent delivery is what ultimately builds credibility and trust.

Reflecting on this, Josephine Adebola, Data Compliance & Process Automation Manager at Finchglow Travels, emphasized the importance of reliability in leadership and the discipline required to translate vision into results. “Get it done on time and in full.

The conversation also explored the role of curiosity and continuous learning in shaping effective leaders. In rapidly evolving industries, the ability to ask questions, remain open to new perspectives, and keep learning is often what enables leaders to grow alongside their organizations.

Sharing her perspective, Tomi Otudeko, Chief Operating Officer at Honeywell Group Limited, reflected on how curiosity has shaped her leadership journey.

“Asking questions and continuously learning have always stood me in good stead as a leader.”

She also spoke about the importance of leading with empathy and understanding the people behind the roles within organizations.

“Everyone has multiple dimensions to who they are. Leadership has taught me to see people in their totality. That awareness doesn’t make a leader weak; it makes them more effective.”

Another important theme that emerged from the conversation was authenticity in leadership. In an environment where leaders often face pressure to conform to traditional expectations, remaining true to one’s identity while continuing to evolve is essential.

For Helen James-Eziashi, General Manager at NGCOM, authenticity and curiosity remain key guiding principles. “Be yourself, keep learning, and stay curious.”

The discussion also highlighted the role of self-awareness in sustaining leadership journeys, particularly in complex and high-responsibility environments. Understanding one’s values, motivations, and support systems often becomes the anchor that allows leaders to navigate uncertainty with confidence.

Reflecting on this, Ifeanyi Onyejekwe, IT Manager at Eroton, emphasized the importance of knowing what grounds a leader.

“Know who you are and understand what supports and sustains your leadership journey.”

According to Descasio, the event reflects its broader commitment to building strong partnerships and fostering meaningful leadership conversations across its enterprise customer community.

“For us, this was about more than marking International Women’s Day,” said Umama David-Ogebe, The HR Manager at Descasio. “It was about creating a space where leaders could learn from one another and reflect on the kind of leadership that builds strong organizations. The most meaningful partnerships grow from conversations like these.”

To extend the impact of the discussion, Descasio has published “The Give to Gain Leadership Report: Insights from Women Leading Enterprise Organizations,” a curated publication capturing key reflections and leadership lessons shared during the session.

The report highlights themes including:

  • The role of curiosity and continuous learning in leadership
    • Building stronger teams through empathy and accountability
    • The importance of authenticity and self-awareness in navigating leadership journeys
    • How investing in people drives stronger partnerships and resilient organizations

The Give to Gain Leadership Report is now available for download Here.


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World Backup Day: Research Reveals 84% of Users Store Sensitive Data Digitally

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Ahead of World Backup Day, Kaspersky reveals the most popular ways to store important data and gives practical advice on how to keep it safe. Global research shows that zoomers and millennials keep nearly everything electronically, while almost one‑in‑three respondents over 55 y. o. still prefer good old‑fashioned paper.

Where do we store what matters?

Research* conducted by Kaspersky’s Market Research center shows that most people prefer to keep important info stored digitally.The majority of all respondents (84%) claim they store sensitive personal data like ID, financial details, healthcare related info or photo archive in electronic format.

When it comes to digital data storage, more than half (56%) say they keep their important records on a computer or a hard drive, 45% use cloud solutions and 20% entrust their data to government digital services.

Does digital mean safer?

Each storage method has its own advantages and limitations. Physical media can be lost or suffer damage, external hard drives are not always convenient to use on the go and cloud services, while being accessible, are vulnerable to unauthorised access. To maximise digital data security, Kaspersky experts advise adhering to the following best‑practice recommendations:

  1. Develop a backup strategy

There is no universal approach to data storage, nor is it necessary to back up every single file. Nonetheless, cultivating a regular backup routine is strongly recommended, particularly for sensitive data or files that cannot be regenerated or recovered through other means.

According to the popular 3-2-1 backup strategy you should have at least three copies of important data, store it on two different storage types, and make at least one copy off-side (cloud or external physical location).

The most sensitive data like passwords, ID or financial details requires special attention. Use a dedicated security solution like Kaspersky password manager, which apart from securely keeping users’ credentials and bank cards, has a special secret vault functionality aimed at storing important documents, for example, scanned Passports/IDs and PDF files, addresses and notes.

  1. Protect your vaults

According to Kaspersky’s data, 98% of all respondents take at least some measures to protect their personal data storages, which is a good sign. However, 36% of respondents use quick-to-remember passwords to safeguard their personal data.

Relying solely on simple passwords leaves your digital vaults vulnerable to brute‑force attacks. That’s why experts recommend enabling two‑factor authentication (2FA) wherever it is available or adopting passkey technology. Passkeys can be stored securely in a password manager and accessed seamlessly from any authorised device.

  1. Set up automatic backups where possible

Continuously remembering to perform backups can be cumbersome. To streamline the process, enable the built‑in backup service on every device you use (e.g., iCloud for iPhone/iPad/Mac, Google Drive/OneDrive for Android/Windows).

Test it once a month or two by restoring a single file, just to be sure the backup works. Kaspersky Premium allows users to make regular backups and restore information on Windows devices. Backup copies of data can be easily saved on removable drives or in cloud storage in an encrypted format.

“We all know backups are important, but most of us never do them because we try to back up everything at once and it gets overwhelming. The smarter approach? Treat backup like any other workflow. Tag your files – critical, important, low‑priority.

Automate real‑time backups for the critical stuff, schedule weekly or monthly backups for the rest. And for sensitive data like passwords and IDs, use our dedicated solution with a secret vault to keep it secure. When you automate and prioritise, you protect what really matters without getting overloaded,” comments Marina Titova, Vice President for Consumer Business in Kaspersky.

The study was conducted by Kaspersky’s market research center in November 2025. 3000 respondents from 15 countries (Argentina, Chile, China, Germany, India, Indonesia, Italy, Malaysia, Mexico, Saudi Arabia, South Africa, Spain, Turkey, UK, United Arab Emirates) took part in the survey.

 


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