General News
Expert Canvasses Further Down-sizing of Insurance Firms
As the financial sector continues to reap the gains of consolidation initiated by the Charles Soludo- led Central Bank of Nigeria (CBN) insurance stakeholders are agitating for further down-sizing of registered insurance companies, with a view to strengthening them like the banks. While acknowledging the fact that the present level is a big achievement, considering the weedy level prior to consolidation, Barrister Olugbenga Tobe, insurance and pension consultant has called on the National Insurance Commission (NAICOM) and the ministry of finance to commence another round of consolidation, which would further reduce the number of operators to fifteen mega insurance companies nationwide. He stated that such exercise would not only financially empower the operators, but would engender public confidence which has eluded the industry over the years. He applauded the fact that the insurance consolidation boosted the industry image, having reduced the number of registered insurance firms from the over 100 pre- recapitalization level to the present 50. He however added that it was the needed move to further consolidate insurance business in Nigeria and boost the confidence of the insuring public, especially if the growing confidence in the sector is to be sustained.
While reflecting on the challenges facing the industry over the years, he explained that poor public image, sharp practices such as rates-cutting and perceived negative public views that insurance companies often repudiate from paying claims to the insured are some of the issues which have impacted negatively on the industry. The consultant stressed “going by the last mandatory recapitalization, insurance companies that are rendering life insurance had an N2bn minimum requirement, while non-life was pegged at N3bn and N10bn for the reinsurance companies.”
This, he said was a “significant lift from the hitherto low level where the highest capitalized insurance company in Nigeria could not even fit into the categories of the poorest in the world.”
He said even now, the highest capitalized insurance companies in Nigeria even though it has risen sharply through private placement, are still within the bracket of the weak ones in the world, going by the industry international standard. The insurance consultant explained that the best way to address the contending issues in the industry is to merge operators of like minds, while combining to raise their capital base, adding that the present number of registered operators which stand at 50 should be further reduced to a maximum of twenty.
He explained that the present large number is still not good enough for the industry; stating that with fewer companies, rate-cutting will be eliminated, while corporate governance will be deeply entrenched for the over-all growth of the industry. While emphasizing that he was not advocating for a deregistration of the present operators, he opined that mergers and acquisition will lead to mega insurance companies that can compete anywhere in the world. He emphasized that this would give the industry a competing edge with banks instead of the present trend where banks are dictating the pace in the financial market.
Tobe called on operators to close rank and adhere strictly to the rules of insurance business. For instance, he said, “If all members of the Nigerian Insurance Association (NIA) take sustainable steps to address the key issues confronting the industry, a decisive step to shun rate- cutting, it could be eliminated once and for all.
He said merger and acquisition has helped the developed economies to come out of their woods, stressing that Nigeria cannot be different. He said going by our current standard, there is no way any Nigeria insurance company can meet the rating of global rating agencies like Standards and Poor and Fitch Rating Agencies.
“For Nigeria insurance companies to get to the level of international companies, it would need to merge and recapitalize continually.” he said.
General News
NCDC Predicts Cholera Outbreak in 10 States as Heavy Rains Loom

Nigeria Centre for Disease Control and Prevention (NCDC) has warned of an imminent cholera outbreak in 10 states following forecasts of heavy rainfall and possible flooding across parts of the country.

The agency said flood predictions issued by the Federal Ministry of Environment and the Nigerian Meteorological Agency (NiMet) indicated that parts of Adamawa, Enugu, Kaduna, Kogi, Niger, Osun, Oyo, Plateau, Taraba and Kwara states may experience heavy rainfall and flooding between April 13 and 17, 2026.
In a public health advisory signed by Dr Jide Idris, director-general, the NCDC noted that the alert was coming at a critical time as Nigeria enters the seasonal period when cholera cases typically begin to rise.
The agency explained that recent national surveillance data already showed increasing cholera activity in multiple states, warning that flooding could rapidly worsen the situation through contamination of drinking water sources and disruption of sanitation systems.
According to the NCDC, flooding during this period may increase the risk of cholera and other diarrhoeal diseases, malaria and other mosquito-borne infections, as well as illnesses linked to contact with contaminated floodwater.
It also warned of possible injuries, including drowning and snakebites, as well as disruption of access to healthcare services in affected areas.
The agency stressed that the risks were preventable with early action, urging residents in at-risk communities to use only safe water for drinking and cooking by boiling, chlorinating or using bottled water.
It also advised regular handwashing with soap and clean water, avoiding contact with floodwater, and maintaining proper sanitation including safe disposal of waste and avoiding open defecation.
The NCDC further urged Nigerians to store and handle food safely to prevent contamination, sleep under insecticide-treated nets to reduce mosquito bites, and seek immediate medical attention if they experience diarrhoea, vomiting, fever or any symptoms of illness.
The agency said community leaders and local authorities must support sanitation activities and drainage clearance, promote hygiene practices and access to safe water, encourage early reporting of suspected illness, and ensure accurate public health information is widely shared.
On its part, the NCDC said it was working closely with State Ministries of Health and relevant partners to strengthen surveillance, enhance preparedness and support rapid response efforts in affected states.
It added that state governments were being supported to activate multisectoral response mechanisms, especially in water, sanitation and emergency management.
The agency maintained that early action, community vigilance and prompt care-seeking could prevent outbreaks and save lives.
General News
Building Systems that Outlive Founders

By Bidemi Oke
There is a quiet misconception in many growing companies that vision alone is enough to sustain momentum. Founders are often the engine because they are decisive, driven and deeply involved. But what happens when the engine steps back?

That question is where real companies are separated from fragile ones. Building something that outlives a founder is not about removing their influence; rather, it is about translating that influence into systems, repeatable, observable and transferable structures that do not rely on constant presence. Without this, growth becomes personality-dependent, and scale becomes inconsistent.
At the early stage, founder-led execution works. Decisions are faster, direction is clearer, and there is less friction. But as the company grows, that same model becomes a bottleneck. Every approval, every escalation, every strategic shift begins to orbit one person. The business does not slow down because of external pressure; it slows down because its internal architecture cannot carry its own weight.
Usually, “system” is often misunderstood. It is not just about tools, dashboards or policies. It is about designing how decisions are made, how information flows and how accountability is structured. It is about making sure that the logic behind actions is visible, not assumed.
For example, a strong system answers questions before they become problems. What triggers a decision? Who owns it? What data informs it? What happens if it goes wrong?
When these are unclear, teams default to escalation. When they are clear, teams operate with autonomy.
This is where many founders hesitate. System-building feels like losing control. In reality, it is the only way to extend control without being physically present. It shifts leadership from being reactive to being embedded.
One of the most overlooked aspects of building enduring systems is Documentation.
Now, not as a formality but as a strategic asset. Decisions that are not documented become opinions. Processes that are not documented become inconsistent.
Over time, this creates invisible friction. Teams solve the same problems repeatedly but differently each time.
Documentation, when done well, becomes institutional memory. It ensures that the company remembers even when individuals move on.
Another critical layer is Feedback Loops. Systems should not be static; they must evolve with the business. This requires structured ways to capture what is working, what is failing and what needs refinement. Without feedback loops, systems become outdated. With them, systems become adaptive.
There is also a cultural dimension to it. Systems do not operate in isolation; people execute them. If the culture rewards speed over clarity, systems will be bypassed. If the culture values accountability, systems will be strengthened. The goal is alignment where systems reinforce behaviour and behaviour reinforces systems.
In fast-moving industries, this becomes even more important, take fintech, for instance. The pace of regulatory change, market volatility and user expectations demands consistency under pressure.
Companies that rely solely on founder instinct struggle to keep up, while those that invest in structured decision-making, risk management frameworks, and operational clarity are better positioned to adapt.
This is something we are increasingly seeing in companies like FlashChange, where the focus is not just on growth, but on building operational resilience. The emphasis is shifting from “who is making the decision” to “how decisions are made.” That shift, while subtle, is very powerful. It creates a foundation that can support scale without losing direction.
Ultimately, building systems that outlive founders is about redefining leadership. It is not measured by how many decisions a founder makes, but by how many decisions the organisation can make without them.
The strongest companies are not those where the founder is always present. They are the ones where the founder’s thinking is quietly embedded, shaping actions, guiding priorities and influencing outcomes, even in their absence. That is how legacies are built.
Not through constant control, but through systems that carry intent forward.
Bidemi Oke is the Chief Executive Officer of FlashChange, a fintech platform focused on secure digital asset exchange. He is an entrepreneur and vibrant leader, recognised for driving innovation and redefining access in the financial technology industry.
General News
Martell’s Monumental Journey of Audacity Reaches Abuja

After kicking off in Lagos, Martell’s nationwide campaign, Martell On The Move, has officially arrived in Abuja. The road trip features The Swift Ascendant, a monumental 14 foot art installation that is traveling across the country to connect with people through local art and nightlife.

The installation is a physical tribute to the Swift, Martell’s iconic sigil and a symbol of freedom and constant motion. This bird represents a spirit that never stands still, much like the “Standout Swift”. A Standout Swift is anyone who embodies that same drive, rising above the ordinary to redefine their own path.
The Swift Ascendant is the result of a collaboration with celebrated Nigerian artist Dotun Popoola. What makes this piece truly stand out is its soul: it was built entirely from discarded and scrap metal.
By giving new life to old materials, Popoola and Martell have created a physical reminder that reinvention is a choice. It is a nod to a more conscious kind of luxury, one that finds beauty in what has been left behind and proves that great things can be built sustainably.
The Abuja leg of the journey hit a major milestone on March 21st at Fuego Lifestyle. It wasn’t just another event on the calendar; it was a full immersion into the Martell world. Guests at Fuego experienced the brand’s energy through curated music, signature cocktails, and a vibe that matched the industrial, edgy aesthetic of the sculpture itself.
The event served as the perfect introduction for Abuja’s social scene to see exactly how Martell is blending heritage with a modern, gritty edge. “We brought The Swift Ascendant to Abuja because the city understands ambition, audacity, and what it means to push boundaries,” said Evane Chenuet, Marketing Director at Pernod Ricard Nigeria.
“Working with Dotun Popoola allowed us to create something that feels raw and real, reflecting the House of Martell’s three hundred year legacy of challenging the status quo. Seeing it at Fuego Lifestyle showed that when art and atmosphere align, the experience isn’t just visual, it becomes something people truly feel”.
The campaign is far from over. Martell is now challenging Abuja residents to keep their eyes peeled as the installation moves through the city. If you happen to come across the 14 foot metal swift during your commute or a night out, the brand wants you to be part of the story.
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