General News
Fixed Annuities, The New Savings Accounts?
Many people do not know the difference between fixed annuities and the regular life covers. Fixed annuities are savings accounts for the insurance world. When you decide to invest in annuities with your insurance agent, you are agreeing to make payments over time which the agent, in turn, invests on your behalf. The fixed annuities that one may have so invested in will attract interest over the years and can accumulate in cash value until the predetermined date that has been have selected to start receiving the pay-out.
There are five main types of fixed annuities.
Single-year guarantee fixed annuities –Under this type of insurance, your insurer guarantees to pay you a specific interest rate for one year which they can raise or lower each year after until the contract ends with what is called “renewal rates.” There are a number of different kinds of renewal rates so it is advisable to consult your insurance agent on which among the different variants may suit your needs. Whichever one you choose, in most cases the interest rate will consistently be lower with each year.
Multi-year guarantee fixed annuities – Here your carrier guarantees a specific interest rate for multiple years which cannot be raised or lowered. With this kind you know exactly how much you’re investing and how much interest you’re accumulating so that it can be determined how much your pay off will be at the time of maturity.
Market value-adjusted fixed annuities – This type of cover is perhaps the most risky and unpredictable venture among the different types and it is based on the market which is beyond your control and could lead to higher rates. There are penalties associated with breaking a market-value adjusted fixed annuities contract that you may want to be aware of so the insurance company should be consulted ort the agent as the case may be.
Pass-through rate fixed annuities –Under this cover, your provider receives a percentage of your fixed annuities while the remainder will be paid out of the interest earned.
Floating rate fixed annuities – These vary from month to month and attract value according to the fluctuation rates.
How one sees annuities depend on his perspective on savings as it relates to annuities. Although they can be complicated, it is best to think of fixed annuities much like a savings account in that you invest money into it and it gains value as a result of accruing interest. If this sounds like something you might be interested in then fixed annuities may be a worthwhile investment for you.
General News
Army Acquires New Drones to Boost Surveillance, Precision Strikes — COAS

Nigerian Army has acquired additional drones and other advanced force multipliers to strengthen surveillance operations, improve target acquisition, and enhance precision strike and casualty evacuation capabilities.

Lt.-Gen. Waidi Shaibu, chief of Army Staff (COAS), said that the new drones will boost surveillance, precision strikes.
Shaibu, who disclosed this in a statement shared via the Nigerian Army’s official X handle, noted that the conference provided a platform for critical assessment of ongoing operations and the development of forward-looking strategies to address Nigeria’s evolving security challenges.
He said deliberations at the Nigerian Army Conference Centre, Asokoro, focused on sharpening operational responses, strengthening training frameworks and adapting to the demands of modern security warfare.
According to him, the resolutions reached are aimed at building a more agile, combat-ready, technologically driven and mission-oriented force capable of responding effectively to emerging threats.
A key highlight of the reforms is the Army’s increasing investment in modern warfare technology, including the acquisition of additional tactical drones and the reconfiguration of Army aviation assets for combat roles.
Shaibu explained that these developments have significantly enhanced intelligence gathering, precision targeting, operational mobility and casualty evacuation across various theatres of operation.
He also highlighted ongoing improvements in recruitment, advanced training, professional military education and leadership development, stressing that discipline, competence and meritocracy remain central to building a stronger institution.
Reaffirming his “soldier-first” philosophy, the COAS said troop welfare remains a top priority, stressing that “troop welfare remains non-negotiable; well-motivated soldiers operating in conducive environments are critical to mission success.”
He urged senior officers to ensure that resolutions from the conference are fully implemented in field operations, stressing that the true value of the gathering lies in measurable impact on the battlefield.
Describing the ongoing reforms, Shaibu said: “We are not just reforming the Army; we are building a lethal, technology-driven fighting force where only discipline, merit, and mission success matter.”
The Army Chief expressed appreciation to President Bola Ahmed Tinubu for his support, as well as the Minister of Defence, Minister of State for Defence, Chief of Defence Staff, service chiefs and intelligence agencies for their continued collaboration.
The conference ended with the presentation of commendation plaques to senior officers recognized for outstanding contributions to operational effectiveness.
General News
UK Special Envoy for Freedom of Religion or Belief Concludes Visit to Nigeria

The UK Special Envoy for Freedom of Religion or Belief (FoRB), David Smith MP, concluded a three-day visit to Abuja this week, marking Nigeria as the first focus country he has visited under the UK’s FoRB strategy.

During the visit, David Smith MP held a wide range of meetings with senior Nigerian government officials, religious leaders, civil society organisations, and local communities – reflecting the UK’s commitment to sustained, practical engagement and partnership on freedom of religion or belief in Nigeria.
Meetings included discussions with the National Security Adviser, Mallam Nuhu Ribadu, the Honourable Minister of Information and National Orientation, Mohammed Idris, and the Governor of Plateau State, Caleb Mutfwang.
The Special Envoy also met with the co-chairs of the Nigeria Inter-Religious Council, Archbishop Daniel Okoh, President of the Christian Association of Nigeria, and HRH the Sultan of Sokoto, Muhammadu Sa’ad Abubakar III, President-General of the National Supreme Council for Islamic Affairs.
At the end of the visit, the UK Special Envoy for Freedom of Religion or Belief, David Smith MP, said: “Over the past few days, I have been honoured to meet a wide range of people — from senior government figures and civil society to faith leaders and local communities. I came to listen, learn, and see both how freedom of religion or belief is experienced in everyday life, and how it connects to – and is a core part of addressing – Nigeria’s wider challenges around security and cohesion.
“Some of the most powerful moments of this visit were at community level. Visiting Father Emmanuel Unamba’s parish and meeting Christian and Muslim neighbours living side by side was a real reminder that peaceful coexistence is something people build every day through leadership, dialogue, and shared responsibility.
“What I take away from this visit is the importance of further progress being Nigerian led, rooted in strong institutions and inclusive dialogue, with FoRB at its heart. The UK will continue to support practical efforts in ensuring greater peace, security and prosperity for all.”
The visit also included a roundtable with partners of the UK’s Strengthening Peace and Resilience in Nigeria (SPRiNG) programme, a £38 million UK government-funded conflict and resilience programme operating primarily in Kaduna, Katsina, Benue and Plateau states.
During the visit, Special Envoy David Smith MP held meetings with the Institute for Peace and Conflict Resolution, the Nigerian National Human Rights Commission, and civil society organisations working at the intersection of insecurity and religious freedom. He also visited the National Mosque and the National Ecumenical Centre in Abuja.
Speaking to the various stakeholders, Mr Smith called for greater tolerance across religion or belief in Nigeria and hoped that the cohesion he saw on a community level in the capital, could be achieved nation-wide with the same resolve. He hoped to continue these dialogues with interlocutors in the UK.
The visit builds on the momentum of President Tinubu’s State Visit to the United Kingdom in March 2026, which reinforced the UK-Nigeria Strategic Partnership and included interfaith events attended by President Tinubu and His Majesty The King, underlining both countries’ shared commitment to fostering constructive interfaith dialogue.
General News
How PalmPay Empowered 2,000+ Women in Kano & Kaduna to Bank Smarter

Women’s financial inclusion remains a critical challenge globally. According to Women’s World Banking, over one billion women lack access to formal financial services, limiting their potential for economic empowerment.

The reality is no different in Nigeria. The EFInA Access to Financial Services (A2F) 2023 survey highlights a significant gender disparity in Nigeria: 30% of adult women are completely excluded from both formal and informal financial services, compared to 21% of men. This means that out of Nigeria’s 57 million adult women, approximately 17 million remain financially isolated.
To bridge this gap, PalmPay has been actively investing in grassroots women’s empowerment by dismantling the knowledge barriers that hinder financial growth. Last year, the fintech platform took this mission directly to the commercial heart of Northern Nigeria: Sabon Gari Market in Kano and Central Market in Kaduna.
In these markets, thousands of women set up their stalls to deal in spices, textiles, grains, and consumer goods. They are the undeniable backbones of the economy, working around the clock to provide for their families.
While these female entrepreneurs possess immense business acumen, a staggering number have historically been left behind by the formal financial sector. For a market woman, being unbanked means trading entirely in cash. Without basic financial literacy or the right digital infrastructure, hard work alone isn’t enough to scale a business.
Recognising this gap, PalmPay stepped away from traditional banking boardrooms and went directly to the market. PalmPay launched a targeted financial inclusion and capacity-building initiative across Kano and Kaduna states. The core mission was straightforward: take the mystery out of digital banking and equip thousands of women entrepreneurs with the exact knowledge and tools required to thrive in a digital economy.
Backed by the royal endorsement of the Emir of Kano, Dr Muhammadu Sanusi II, the solution was delivered through:
- PalmPay team members conducted hands-on financial literacy workshops right inside the markets, teaching women how to separate personal expenses from shop revenue, calculate true profit margins, and budget for inventory.
- Women opened digital bank accounts on the spot and were equipped with reliable PalmPay POS terminals and mobile app tools.
- Micro-business branding support, including storefront branding, transactional merchandise, and market umbrellas to shield them from the elements.
The true impact of this initiative is best seen through the eyes of the market women themselves. Consider the transformation of a typical trader in Sabon Gari Market who spent years operating strictly with cash-box accounting.
Before the intervention, she faced the constant anxiety of missing cash, unverified bank transfers, and untracked inventory purchases. Today, with a PalmPay POS terminal on her counter and instant payment notifications triggering seamlessly on her phone, the chaos has been replaced by complete financial control.
When you empower a market woman, you don’t just improve a single business; you stabilise an entire household and uplift a community. By transitioning over 2,000 women in Kano and Kaduna from the vulnerabilities of an all-cash system to the security of digital banking, PalmPay has helped convert everyday survival into scalable success.
As these newly banked entrepreneurs continue to master cash-flow management and leverage instant digital settlements, they are proving that with the right partner, grassroots commerce can become a powerful engine for national economic growth.
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