General News
Lagos Traffic Law in Breach of UPU Treaties
Stakeholders in the courier industry have returned a damning condemnation of the new Lagos traffic law saying that it contravenes standing Universal Postal Union (UPU) treaty which made generous provisions for commercial motorcyclists popularly called okada for distribution.
Nigeria on July 10, 1961 became a member of the UPU, a specialized agency of the United Nations that coordinates postal policies among member nations, in addition to the worldwide postal system.
Dr. Simon Emeje, assistant post master general, Nigeria Postal Service (Nipost) told Nigeria CommunicationsWeek, that the international treaties of the Union, to which Nigeria is a signatory, encourages nations and governments to deliver items to any point as the postal sector’s obligation is to reach every citizen.
Emeje said that certain provisions of the new Lagos Traffic Laws, especially one which restricted commercial motorcyclists to some designated roads is clear violation of the UPU treaty.
According to him, operators should not only be allowed to carry out their duties to any point in the State, but deserve the right to use any motorcycle of their choice.
“Actually, we have had series of meetings with the Lagos State Government. We have met a number of Commissioners in the State, particularly Hon. Opeyifa, Commissioner for Transportation. The government is very much aware of our case. We have made paper presentations, talks and debates.
“The postal obligation is that they want to reach every citizen. And in doing that, there should be no restriction of vehicles or motorcycles that will be used to reach to the people either on water or on the dry ground” he added
He also said that “Therefore, we have made a case to Lagos State Government that this is inside the Conventions and International Treaties or a global disposition that should be respected. Nigeria or Lagos State should not be an exemption. Courier operators should be allowed to dispatch the parcels they have been assigned to do, even to any part of State”.
Emeje who also heads, Courier Regulatory Department (CRD) of Nipost further argued that restriction of the operators to use motorcycles with engine capacity of 200 Cc was not acceptable because it will signal the death of some courier firms, especially the indigenous players.
It would be recalled that members of the Organised Private Sector (OPS) had during Private Sector Stakeholders’ forum on the traffic law, recently urged that the state government to proceed with the caution the implementation of the Law.
Mr. Ralph Ozuede, managing director of UPS while presenting the position of courier companies on the law, said the prescription of 200cc motorcycles for their operations was not convenient.
According to him, 200cc motorcycles are not readily available in the country and cost about N1million each.
“We want the government to allow us some grace of between six months and one year to transit to the prescribed motorcycle capacity .As it is now; it will be difficult for us to get the 200cc engines because they are very expensive,’’ he said.
Also, Mr Joseph Umoni, representative of Road Haulage Association of Nigeria, lamented that the ban on movement of trucks during the day could cause a lull in their operations as well as loss of jobs.
Responding, Governor Fashola said the traffic law, just like every other law, was not perfect and could be amended, pointing out that their concerns were based on selfish reasons rather than for the common good and prosperity of the state.
Nigeria Hydrological Service Agency (NIHSA) has warned of possible floods in parts of Adamawa, Bauchi, Edo, Imo, Enugu, Akwa Ibom, Cross River, Kaduna, Plateau, Niger, Benue, and Borno states within the next seven days.
According to information posted on NIHSA X handle, the Agency announced medium flood advisory in force for the next 7 days across Adamawa, Bauchi, and 11 other States.
“Localised inundation is forecast along the main channel; named communities below sit on the projected footprint. Stations: Saminara on the Karam river, Waya Dam Site on the Waya river, Amber on the Amber river.
“Adamawa; Lemsa, Lamurde, Numan Exposure: 147 comm. 49 schis 40 hith 6 mkts17 relig. Bauchi-Bauchi, Ningi, Shira. Exposure: 4 comm. Kaduna; Chikun, Giwa, Igabi, Jaba, Jema’a, Kachia, Kaura, Kauru, +6 more. Exposure: 1 comm.
“Borno-Gubio, Mobbar. Exposure: 680 comm. 8 schls 6 hith 5 mkts 21 relig. Edo-Akoko-Ed, EtsakoEa, EtsakoWe, Ikpoba-Okha, Orhionmw, OviaNort, OviaSo.. Exposure: 3 comm.
“Imo-Aboh-Mba, Oguta, Ohaji/Eg, Okigwe, Owerri North, Owerri West. Exposure: 3 comm. 7 more states affected and severity LGAs”.
NIHSA advised people in the affected areas to “do NOT cross flooded roads, bridges, or fast-moving water on foot or by vehicle.
“Clear drainage channels and river-mouth blockages; avoid building or living in the floodplain and move people, livestock and valuables from the floodplain to pre-identified higher ground,” NIHSA stated.
General News
First Trustees Advocates Estate Planning as an Essential Tool in Every Wealth Creation Strategy
First Trustees Limited, a subsidiary of FirstHoldCo Plc., and a leading provider of fiduciary and trusteeship services in Nigeria, is encouraging individuals, professionals, entrepreneurs, and investors to view Estate Planning not as an end-of-life exercise, but as a strategic investment tool for protecting, preserving, and transferring wealth across generations.
As more Nigerians focus on wealth creation through businesses, real estate investments, and other income-generating assets, experts are emphasizing that building wealth is only one part of the equation.
Equally important is creating structures that ensure those assets remain protected, properly managed, and seamlessly transferred to succeeding generations in accordance with the asset owner’s wishes. Importantly, Estate Planning is not solely for the wealthy, it is a prudent step for anyone with assets, dependants, or a business to protect, regardless of age, profession, or net worth.
Speaking on the importance of Estate Planning, Ereifemi Akeredolu, Managing Director/CEO, First Trustees Limited, noted that Estate Planning should be considered a core pillar of every long-term financial strategy.
“Many people focus on creating wealth but give litle thought to preserving it. Estate Planning is a wealth protection strategy that helps individuals safeguard their assets, secure their family’s future, and ensure that the value they build today continues to benefit future generations.”
Using tools such as Trusts, Wills, and advanced succession plans, individuals can build structures that support wealth preservation, business continuity, asset protection, and intergenerational wealth transfer.
For entrepreneurs and business owners, Estate Planning serves as a powerful tool for ensuring business sustainability, helping organizations remain stable and operational regardless of unforeseen circumstances.
First Trustees continues to emphasize and educate on the importance of Estate Planning as a comprehensive strategy for proactive planning. It remains one of the most important financial decisions an individual can make: it provides clarity, minimizes uncertainty, and protects assets from unnecessary erosion and disputes. It also creates financial security for loved ones, supports business succession and continuity, and facilitates long-term investment and legacy planning.
General News
Nearpays, Nigerian Fintech Becomes First African Startup to Win UN’s AI for Good Innovation Factory
Nearpays, Nigerian fintech, has won the AI for Good Innovation Factory grand finale — the first African startup ever to take the global title in the competition, which runs as part of the United Nations’ AI for Good Global Summit.
The competition drew more than 500 startups worldwide, each pitching AI solutions aimed at social and economic challenges.
The summit itself is organised by the UN through the International Telecommunication Union (ITU) in partnership with several UN agencies, convening governments, researchers, startups, and technology companies around AI’s role in development.
Nearpays’ route to the title ran through Johannesburg, where it won the African regional competition, before advancing to the global finals in Geneva.
There, the company progressed through the semi-finals and claimed the grand finale — a first for the continent.
The company describes the win as bigger than a corporate milestone, calling it a victory for African innovation and proof that technology built to solve local problems can compete, and win, on the world stage.
Nearpays was founded to close a stubborn gap in African payments: small and medium-sized businesses that can’t afford or access traditional point-of-sale terminals.
Cost, availability, and deployment hurdles have kept many merchants — particularly in rural and underserved communities — locked out of digital payments.
Its answer is SoftPOS: an AI-powered platform that turns compatible Android smartphones into payment acceptance devices, letting merchants take contactless card payments with nothing more than their phones. AI is embedded across the platform, supporting payment processing, compliance, fraud detection, and business operations.
Crucially, the platform was built for African infrastructure realities — it works both online and offline, so merchants can keep accepting payments even without internet connectivity.
The company credited its team’s years of product development and customer engagement for the result, and thanked the UN, the ITU, and the AI for Good initiative for building a platform where innovators can apply AI to real-world problems.
It also said it hopes the win encourages more African founders to build technology that answers local needs while competing internationally.
For Nearpays, the title closes one chapter and opens another, as the company pushes on with expanding digital financial infrastructure across Afric
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