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Infrastructure is a Challenge – Aniebonam
Dr Boniface Aniebonam, chairman board of trustee of National Association of Government Approved Freight Forwarders (Nagaff), has harped on the need for improved infrastructure in the country to foster an environment healthy for industrial growth and global competitiveness.
Aniebonam said in an interview recently in Lagos that Nigeria’s growth prospect will be greatly enhanced if basic infrastructure is improved as it will better position the nation to effectively compete even among most industrialised nations of the world.
“I am very much encouraged by what the Lagos State government has been doing despite its limited resources. I am also pleased by some of the steps taken by government to develop infrastructure like the concession of the Lagos-Ibadan Expressway to a private company to manage. I’m very confident that policies such as these will greatly strengthen the Nigerian economy,” Aniebonam said.
The Nagaff boss who has remarkably improved the fortunes of freight forwarding in Nigeria by establishing a freight forwarding academy, said that in a bid to keep the business running, stake holders in the industry have invested huge funds into the provision of basic infrastructures and that this is often passed down to the consumers who have to pay more for services rendered.
He also maintained that while big multinationals like China shipping and Maersk line can afford to secure some of these costly infrastructural facilities, smaller indigenous companies cannot.
“Most of us in the industry are actually running our operations on generators. We are in a good position to get gas pipeline which will reduce our energy cost but we have to run their operations on diesel, which of course is reflected on the cost of services rendered to importers and manufacturers, and which ultimately reflects in the price that the Nigerian consumer has to pay,” he said.
He added that while government strives to provide infrastructure on one hand, it should ensure there is a level playing field by taking another look at its liberalisation policies, noting that though it is a good idea to try to protect the local industry, using the liberalisation plan, there is a need to apply some caution so that the local industry don’t become complacent and lose its sense of competition.
“We look at the import of tariffs, which I fully understand is to protect the local industry. But they all will have to be competitive. As a service industry, we would like to drive down the cost of services which we provide and make it more accessible, “he said.
Boedinger, who disclosed that Nigeria is Africa’s second biggest Unilever market after South Africa, also denied insinuations that the company was planning to move its operations to Ghana, adding that 86 years ago, when it commenced operation in Nigeria Unilever made a deliberate decision to manufacture its products locally. This is in line with its belief that companies should operate in the market where they will like to be found, and where they do business.
Highlighting some of the drawbacks of poor infrastructure, Boedinger said that Nigeria has huge unemployment problem because the manufacturing sector, which is one of the biggest employers, currently operates below capacity. He maintained that with good infrastructure, foreign investors would show more interest in Nigeria, and this will provide avenue for job creation.
“Unfortunately at the moment, only 46 per cent of GDP is coming from the manufacturing sector. This is the opportunity we all have, as a society, to address and create jobs for Nigerians,” he said.
While commending the Lagos State Governor, Raji Fashola on his palpable achievement in the area of infrastructure, he charged the Federal Government to be more consistent in the application of policies. “I think the regulatory framework is fine, but it is more of a problem of application and implementation of these policies,” he said.
He applauded government’s decision to concession the Lagos-Ibadan Expressway to a private company to manage, adding that the way to achieve sustainable development in the provision of infrastructure is to hold people accountable, provide good governance and let people believe in the government and its workings.
Speaking further, he charged Nigerians to be positive and focus more on the opportunities instead of the many problems in the environment. “It is more of ‘what do we see – opportunities or problems? Even against all odds, if we are committed to growth, and convince ourselves that we have the energy and the willingness to make it happen, we can make it happen,” he said.

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General News
Xenophobic Attacks: Anonymous Nigeria Threatens to Leak South African Stolen Data

Anonymous Nigeria, hacktivism, known for launching coordinated cyberattacks and protests in support of socio-political movements, has threatened to leak stolen South African government data unless its demands were met.

The group, called for the department to stop xenophobic attacks on Nigerians in South Africa, or it will expose the data.
“They call themselves correctional services, but they can’t correct the citizens. What a shame,” the group said in its Telegram channel, MyBroadband reported.
“They killed a lot of Nigerians while the so-called correctional services watched and the ministry of justice.”
It is immediately know if Anonymous Nigeria is affiliated to Nullsec Nigeria.
But in a post on a hacker forum, Nullsec Nigeria included a link showcasing an example of data stolen from the department.
It included two bid invitation notices, bid results, a copy of the bids received, and a notice of a bid awarded in various formats.
“We’ll expose all your evil deeds for the world to see, unless this attack stops. But if not, we’ll leak everything they got,” Nullsec Nigeria said.
“Unless the government of South Africa ends these xenophobic attacks on Nigeria, we’ll expose everything about you, your evil deeds will be exposed, and the world shall know.”
MyBroadband asked the Department of Correctional Services about the claimed breach and Nullsec Nigeria’s demands, but it did not immediately respond to our questions.
Nullsec Nigeria also claimed responsibility for breaching several other entities in South Africa, while responding to an X post about its OpSouthAfrica campaign in its Telegram channel.
“I wanna express something here. I saw a report on the #OpSouthAfrica hack by Nullsec Nigeria, but it was stolen by another person,” it said. “Tag the real breachers next time.”
In a separate thread on the hacker forum, Nullsec Nigeria also claimed responsibility for breaching the Ephraim Mogale Local Municipality’s systems.
It claimed to have hacked the local government’s website and threatened to expose “everything you got for others to see how heartless you are. You killed mothers, brothers, students.”
Nullsec Nigeria said the breach and the threats were in response to the xenophobic attacks on and killing of Nigerians and the South African government’s supposed silence on the issue.
“These attacks are still going on in the dark, and we’ll expose them all. If the South African government doesn’t act first, the whole of South Africa will suffer,” it said.
“This is just a wave. These documents are about 11GB, but we decided to pull just this one.”
Its post included two images: one for a public hearing and another, a handwritten tender document for the appointment of an insurance service provider.
It also included a link to several other documents, including an old annual report, council resolutions, financial statements, and various other notices.
The Nigerian Government recently announced plans to bring citizens back to the country from South Africa after violent protests over foreign nationals in the country erupted earlier in May.
President Cyril Ramaphosa condemned the protests and criminal acts directed at foreign nationals in his From the Desk of The President weekly newsletter on 11 May 2026.
He emphasised the recent demonstrations and attacks did not represent the views of the South African people, nor the government’s policy.
“These are the acts of opportunists who are exploiting the legitimate grievances, particularly those of the poor, under the false guise of ‘community activism’,” The President said.
“Some of these people are assuming functions that only state officials are permitted to perform, including stopping people to check identification and conducting searches of private property.”
He added that such lawlessness would not be tolerated, regardless of who the perpetrators or victims were.
News
WHO Says Ebola Outbreak Worse than Reported

World Health Organisation (WHO) at the weekend declared the Ebola outbreak linked to the rare Bundibugyo virus strain a global public health emergency.

WHO said there is currently no approved vaccine or specific treatment for this strain of Ebola.
At home, Nigeria Centre for Disease Control and Prevention (NCDC) said there is “no confirmed case of Ebola Virus Disease in Nigeria” but had tightened surveillance against the deadly virus.
The outbreak, linked to the rare Bundibugyo strain of Ebola, has already caused dozens of deaths in Congo and spread into Uganda, raising fears of wider transmission across the region.
In response, Nigeria Centre for Disease Control and Prevention said that the country remains on alert because of growing movement across African borders.
Jide Idris, director-general said the agency was “closely monitoring the situation” and working with the Port Health Services and other health agencies to strengthen preparedness nationwide.
He added that surveillance has been increased at entry points and within Nigeria’s health system.
According to the WHO, the outbreak has recorded more than 240 suspected cases and about 80 suspected deaths in Congo’s Ituri province, while imported cases have also been confirmed in Uganda’s capital, Kampala.
The WHO said the outbreak is “extraordinary” because of uncertainty around the true number of infections and the lack of approved medical countermeasures for the Bundibugyo strain.
Health authorities advised Nigerians to maintain proper hygiene, avoid contact with infected persons and report symptoms such as fever, weakness, vomiting and bleeding to the nearest health facility immediately.
Nigeria was declared Ebola-free in 2014 after successfully containing an outbreak brought into the country by an infected traveler from Liberia.
E-Financial
Chapel Hill Denham Says Banks Lose N2.5 Trillion Annually to High CRR in New Report

Nigeria’s banking sector is losing an estimated N2.5 trillion in annual earnings due to the Central Bank of Nigeria’s high Cash Reserve Ratio (CRR) policy, according to a new report by Chapel Hill Denham.

The investment banking and research firm said the policy continues to impose significant constraints on bank profitability by requiring lenders to keep a large portion of customer deposits with the Central Bank without earning returns on them, effectively locking away funds that could otherwise support lending and income generation.
In its report titled “The Nigerian Banking Paradox: High Returns, Deep Discounts,” Chapel Hill Denham noted that although Nigerian banks rank among the highest return-on-equity performers in Africa, they remain undervalued compared to peers, largely due to regulatory constraints and macroeconomic uncertainty.
The firm identified the CRR regime as a key structural factor limiting the sector’s earnings potential, arguing that it reduces balance sheet efficiency and restricts credit creation to the real economy.
According to the report, banks are still required to pay interest on deposits while a significant portion of those funds remains sterilised at the apex bank.
Chapel Hill Denham stated that the current policy framework, which evolved in response to past financial sector instability and exchange rate pressures, may now be exerting a heavier drag on growth and profitability than originally intended.
“Our analysis reveals that Nigerian banks operate under a uniquely restrictive regulatory perimeter,” the report said, adding that the structure suppresses reported returns despite underlying profitability strength.
The report also compared Nigeria’s reserve requirements with other jurisdictions, noting that the country’s CRR remains significantly higher than several African and emerging markets.
While South Africa operates a 2.5 per cent CRR, Kenya maintains 4.25 per cent, Ghana 15 per cent, and Egypt 16 per cent, with Morocco reported to have reduced its reserve ratio to zero.
Analysts at the firm said a moderation of Nigeria’s CRR from 50 per cent to 30 per cent could release up to N8 trillion into the banking system and potentially boost annual pre-tax profits by about N800 billion.
They added that investors currently price Nigerian banks on the assumption that the tight monetary stance will persist, limiting valuation upside despite strong earnings performance.
At its February 2026 meeting, the Monetary Policy Committee of the Central Bank of Nigeria retained the CRR for Deposit Money Banks at 45 per cent, while Merchant Banks remained at 16 per cent, and public sector deposits outside the Treasury Single Account framework at 75 per cent, as part of efforts to sustain tight monetary conditions and manage liquidity pressures.
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