MTN Nigeria, through The Gathering on 100, has officially unveiled the next chapter of its youth cultural and creative movement in Aba, the home of entrepreneurship and innovation in Eastern Nigeria.

The initiative transformed the Prime Time Event Centre in Osisioma into a vibrant hub of innovation, culture, lifestyle, and entertainment.

As the second major activation of MTN’s ‘Live It 100’ campaign, this event underscores a bold commitment to encouraging young Nigerians to live life to the fullest of their potential, whether in business, tech, culture, or entertainment.

Central to this immersive experience is the highly anticipated Pitchathon, where 10 standout startups are vying for a total prize pool of ₦5 million.

The participating startups represent a cross-section of Aba’s burgeoning innovation ecosystem, tackling challenges ranging from logistics to artisanal tech.

Among them are Trashverse Recycling Technology Limited, a climate-first recycling solution founded by Charles Ikechukwu; SkillsCircle by Together, an ed-tech platform championed by Ijeoma Irene to empower young professionals in Nigeria; and Poptreaties, a healthy snack alternative founded by Ifeanyichukwu Dominion to curb junk food consumption.

These founders and their peers are showcasing solutions that blend local ingenuity with scalable technological frameworks, highlighting the immense potential of the region’s entrepreneurial spirit.

The pitchathon is judged by three esteemed figures in the African innovation ecosystem: Chiemela Anosike (Founder, Solaris GreenTech Hub), Dr. Chime Chimezie-Uche (Founder, Abia Startup Limited), and Justina Nwokedi (Digital Transformation Specialist).

This competition is designed to spotlight and empower early-stage founders in the city, providing them with a platform to validate their business ideas before investors, consumers, and industry stakeholders.

The prize structure offers ₦2.5 million to the winning startup, ₦1.5 million for the first runner-up, and ₦1 million for the third-place winner.

This Aba edition builds on the success of the Lagos edition, which took place from April 22 to 26 at the National Stadium, Surulere. There, eight startups received a collective ₦45 million in seed funding for solutions ranging from fintech to creative technology.

By bringing this platform to Aba, a city renowned for its industrial and entrepreneurial spirit, organizers aim to deepen access to opportunity and support the next generation of business leaders.

For these 10 startups, the Pitchathon is a vital opportunity to gain visibility, engage with potential partners, and accelerate their growth within a high-density environment of innovation.

Central Bank of Nigeria (CBN) has proposed new guidelines aimed at separating the operations of banks and other closely linked financial entities, including financial technology (fintech) companies, to strengthen consumer protection and safeguard financial stability.

CBN

The proposal is contained in a circular dated June 10 and titled, “Exposure of the Draft Guidelines on Ring-Fencing Operations of Closely Linked Entities in the Nigerian Financial System.”

According to the apex bank, the proposed framework is designed to establish clear operational and functional boundaries among related entities while addressing regulatory arbitrage arising from the commingling of activities across different licence categories.

The CBN said the guidelines would cover governance, intra-group transactions, segregation of customer funds and data, operational independence, recovery and resolution planning, as well as consolidated supervision.

“The Guidelines is intended to strengthen consumer protection, enhance transparency and accountability, mitigate contagion risks among closely linked entities, and preserve financial stability while supporting innovation and fair competition within the financial services sector,” the bank stated.

The apex bank explained that a closely linked entity refers to any organisation that directly or indirectly controls, is controlled by, or is under common control with another entity through ownership, voting rights, common directors or senior management, shared systems or branding, or contractual dependence.

Under the proposed framework, such entities would be required to operate independently, maintain separate governance and risk management structures, and individually meet capital adequacy and liquidity requirements regardless of group-level resources.

The CBN also proposed stricter controls on transactions between related entities.

It stated that no closely linked entity would be permitted to extend loans to or guarantee the obligations of another related entity without prior written approval from the regulator.

According to the draft, all intra-group exposures must be conducted on an arm’s-length basis and reported to the CBN on a quarterly basis.

The proposed guidelines further seek to strengthen consumer rights by requiring financial institutions to obtain customers’ express consent before onboarding them onto products or services offered by related entities.

The regulator said institutions would also be required to clearly disclose such arrangements in simple language and provide customers with alternative options where available.

To protect depositors and consumers, the CBN proposed that customer funds must not be used for intra-group lending, proprietary trading, servicing group debts or covering the operational expenses of affiliated companies.

The draft also includes provisions for enhanced data protection, requiring customer information to be stored independently from the systems of related entities to prevent unauthorised access or commingling.

In addition, promoters of closely linked entities would be required to establish non-operating holding companies to oversee their businesses.

However, shareholders unwilling to adopt the structure may opt to merge their operations and surrender excess licences.

The CBN said the draft guidelines had been released for stakeholder consultation and public review.

It invited comments and recommendations from stakeholders, noting that submissions must be made on or before July 9.

The proposal follows another draft guideline on financial holding companies issued by the apex bank on June 10, which seeks tighter ownership requirements, including a minimum 51 per cent stake in subsidiaries.

The CBN said the reforms were part of ongoing efforts to strengthen regulatory oversight and ensure the resilience of Nigeria’s financial system.

Haleon, a global consumer health company with a purpose to deliver better everyday health, is introducing its corporate identity across Nigeria in a phased transition. Trusted brands such as Panadol, Sensodyne, Macleans, Otrivin, Voltaren, Cac 1000 and Andrews Liver Salts remain unchanged in formulation, quality, and effectiveness.

Following the formal demerger from GSK, Haleon was launched on July 18, 2022, as an independent company 100% focused on consumer health. Haleon is the new home for brands like Sensodyne, Panadol, Centrum and others, trusted by millions worldwide for their proven effectiveness in improving everyday health.

From relieving tooth sensitivity or pain to providing essential vitamins and nutrients, our products are designed to fulfil Haleon’s purpose: to deliver better everyday health with humanity.

This revised corporate identity is a branding change only and does not affect the safety, quality, or efficacy of the products. Haleon is sharing this update as part of its commitment to transparency and consumer confidence, helping consumers continue to choose the brands they know and trust.

Haleon’s collaboration with Fidson Healthcare forms part of this approach, reinforcing the value of local production in supporting trusted everyday health brands in Nigeria.

Panadol Extra 100s and Panadol Pain & Fever 100s are currently being produced and supplied to the market under the Haleon identity. Sensodyne Rapid Action will bear the Haleon corporate identity from mid-June, followed by Andrews Liver Salts later this year.

In due course, additional brands—including Otrivin, Voltaren, Cac 1000, Macleans, and the wider Sensodyne portfolio—will also transition to the Haleon identity.

Haleon remains committed to ensuring consumers can continue to access the same high-quality brands at pharmacies, supermarkets and other retail outlets across Nigeria.

“As Haleon introduces its identity in Nigeria, we want consumers to feel informed and reassured. The trusted products they rely on remain the same in quality, formulation and effectiveness.

“At the same time, our local production approach in partnership with Fidson Healthcare supports reliable access to high-quality everyday health products in Nigeria,” said Himanshu Raj, Haleon General Manager for Sub-Saharan Africa.