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Lagos Leather Fair Partners BOI, SMEDAN to Promote Nigeria’s Leather Industry

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Mrs. Femi Olayebi, founder, Lagos Leather Fair, said the platform is planning to collaborate with Bank of industry and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to support local producers of leather in the country.

She said her platform has identified funding and sourcing of raw materials as major challenges in the leather industry.

“The Lagos Leather fair was created to provide a platform for operators in the space to talk about different narratives around leather and also for collaboration within producers as well as teach ourselves the techniques of the business”, she said.

This year’s edition, themed “LLF5”, will take place at the Balmoral Convention Center, Victoria Island, Lagos from 11th to 12th of June. The event will bring together local and international designers to showcase their products and services. The fair will also feature a series of masterclasses and conversations with a broad range of speakers across multiple industries; interactive creative workspaces; and a series of catwalk shows.

The masterclasses will include speakers such as Adeyinka Abimbola, Ehi Binitie, Ache Idachaba-Obaro, Papa Omotayo, Muyiwa Femi Pearse, Adenike Adeyemi amongst others.

Speaking about the fair, Femi Olayebi, Founder, Lagos Leather Fair, expressed why the fifth edition is a milestone, saying; “We’re excited to be back for our fifth edition. The Lagos Leather Fair has created and continues to create massive visibility for both starting and established designers. It has also provided empowerment opportunities for leather craft trainers and manufacturers. Our vision is to ensure that the leather sector contributes significantly to the Nigerian economy and the broader African narrative, by driving change in the sector and addressing key industry challenges affecting the supply chain.”

As part of this year’s fair, Lagos Leather Fair will be launching The Leather Portal. To bridge the information gap in the industry, The Leather Portal was created to serve as a resource hub and an e-directory that would provide relevant and open access information specific to leather and leather-goods, and connect leather designers, tanners, hardware suppliers, input suppliers and brands across Africa and internationally.

The Lagos Leather Fair has raised the quality and manufacturing standards of made in Nigeria products by showcasing exceptional leather goods and services.

Over the last five years, The Lagos Leather Fair has impacted key stakeholders in the industry including—leather designers, raw materials producers, manufacturers, suppliers of machinery and equipment, trainers, retailers, and industry experts. We have executed over 30 masterclasses and 10 creative workshops and 18 runway presentations. In 2020, Lagos Leather Fair initiated West Africa’s first ever digital leather exhibition, to leverage growing cross-border connection and broaden the platform for its designers.


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General News

Taraba Adopts Electronic Case Management System

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Taraba State in Nigeria has developed an electronic platform for filing criminal cases in the state’s High Courts, marking the implementation of the new National Case Management System.

The launch, announced on Monday, marks a move from manual to electronic filing of criminal cases and is part of attempts to reform court processes and expand access to justice using technology.

Governor Agbu Kefas stated that the action underlines the government’s dedication to institutional strengthening, the rule of law, and effective governance.

Kefas pledged continued government support for the judiciary, noting that technology is essential for delivering swift, fair and transparent justice.

He also stated that the state would give the resources and infrastructure required to maintain the ongoing judicial reforms.

Justice Joel Agya, Chief Judge of Taraba State, stated that the e-filing facility will enable the electronic filing of originating processes and subsequent applications.

He explained that the system would enhance case tracking from filing to final determination while reducing delays caused by manual registry procedures.

Justice Agya went on to say that the platform would improve the security and accessibility of court records, as well as help judges manage dockets and time better.

He emphasised that the platform is intended to supplement rather than replace judicial decision-making, ensuring that administrative procedures do not impede the delivery of speedy justice.

The development is consistent with a broader national push to digitalise judicial processes across Nigerian courts, which has already been implemented in several regions.


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Cybersecurity Firm Detects a Wave of Crypto Phishing Following BlockFi Bankruptcy

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Kaspersky has detected a wave of phishing attacks preying on former customers of the bankrupt crypto lending platform BlockFi.

These scams leverage the ongoing distribution of customer assets following BlockFi’s 2022 bankruptcy, tricking victims into surrendering cryptocurrency wallet seed phrases, potentially leading to financial losses.

BlockFi, once a prominent provider of high-yield interest accounts and crypto-backed loans, announced bankruptcy in November 2022. The company began disbursing repayments to affected clients in 2024 as part of its restructuring plan.

Kaspersky has detected fraudulent emails mimicking BlockFi’s official branding, which falsely invite recipients to “claim the payment” they are “entitled to.” After clicking on the link, users land on a phishing page and are prompted to “connect their wallet”.

The attackers suggest that users import their existing wallet by typing in the secret phrase – this grants attackers direct access to the funds in the victim’s wallet.

“Phishing attacks like this are widespread, capitalising on real-world events to build trust and urgency. Victims who fall for these scams risk exposing their crypto wallets to theft. It’s critical for individuals to verify any communications directly through official channels and to check the address from where the email originates for legitimacy,” comments Roman Dedenok, anti-spam expert at Kaspersky.

The phishing emails feature convincing logos, colour schemes, and language, making them difficult to spot at first glance. Kaspersky recommends the following steps to avoid falling victim to this or similar scams:

  • Do not click on links or respond to unsolicited emails.
  • Protect Sensitive Information: Never share banking credentials, wallet seed phrases, or other private keys in response to an email or online form.
  • Use Security Tools: Enable two-factor authentication (2FA) on all financial accounts, employ reputable security software like Kaspersky Premium, and consider using a password manager to safeguard credentials.

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Universal Insurance to Raise N15bn to Meet Capital Rules

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Universal Insurance Plc has secured the approval of its shareholders to raise additional capital of N15 billion through a proposed recapitalisation exercise, as the insurer intensifies efforts to strengthen its balance sheet and position the company for long-term sustainability.

The approval will be granted at an Extraordinary General Meeting (EGM) scheduled for February 5, 2026 in Lagos.

Currently, Universal Insurance’s share capital stands at N8 billion, with 16 billion ordinary shares held by existing shareholders on the NGX. The board is seeking to revalidate, authorise, and regularise 14 billion unissued ordinary shares for the planned capital raise and also secure approval to list and admit the new shares for trading

Following resolutions passed at the Extraordinary General Meeting (EGM), Universal Insurance Plc is moving forward with a comprehensive recapitalisation programme aimed at reinforcing its capital base and improving its capacity to underwrite larger and more diversified risks.

Shareholders approved the plan to raise new equity through a combination of capital market instruments, subject to regulatory approvals, as part of efforts to meet industry capital requirements and support future growth.

Gross premium written rose to N18.59 billion, up from N12.29 billion a year earlier, driven by increased underwriting activity across key insurance segments. Insurance revenue also grew to N14.68 billion, compared with N9.85 billion in the prior period, reflecting stronger risk acceptance and improved pricing discipline.

Despite higher insurance service expenses, the company posted an insurance service result of N1.13 billion, while net investment income surged to N2.79 billion, supported largely by fair value gains on financial assets. As a result, net insurance and investment income increased to N5.18 billion, nearly double the N2.61 billion recorded in the same period of 2024.

On the balance sheet, total assets expanded to N21.82 billion as at September 30, 2025, from N18.14 billion a year earlier, supported by growth in financial assets and investment properties. Shareholders’ funds rose to N14.38 billion, up from N12.33 billion, reflecting improved profitability and reserve accumulation.

Investors have also responded positively to Universal Insurance’s performance, with its stock delivering an 83.33 percent return in 2025, rising from N0.66 to N1.21 per share, and trading volumes exceeding 6 billion shares.

The recapitalisation initiative, combined with the improving financial performance recorded in Q3’25, underscores Universal Insurance Plc’s determination to reposition itself as a more resilient and competitive player in Nigeria’s insurance industry.

The company aims to deliver improved value to policyholders, investors, and partners, while supporting broader economic activity and generating sustainable returns for shareholders.


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