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LG Electronics, Fouani Renovate School Building, Equip School with Solar Energy in Lagos
LG Electronics Nigeria, in partnership with consumer electronics retailer, Fouani Nigeria Limited has partnered to renovate and equip the United Christian Junior Secondary School building in Apapa, Apapa Local Government Area, Lagos State.
This joint effort will help to improve educational standards at the school by providing students with a modern, safe, and comfortable learning environment.
Speaking at the ribbon-cutting and commissioning ceremony held at the school premises, which brought together partner of LG Electronics, Fouani Nigeria Limited, representative of Lagos District IV Tutor-General/Permanent Secretary (TGPS), the school principals, Vice Principal Administration and Academics, Parents Forum Association of the School, students and members of the community, and Managing Director, LG Electronics West Africa Operations, Mr. D.Y. Kim noted that the renovation of the school is part of the firm’s commitment to quality education.
The organization, according to him, has embarked on multiple CSR initiatives and has in the past eleven years honed its yearly CSR strategy around socio-economic development, particularly equipping the health sector; capacity building and holistic education interventions across all levels, including young professionals; and general philanthropy where most needed.
He urged the students and management of the school to make good use of the facilities and guard them jealously so that they will serve the purpose for which they are provided.
“The youths are the future, and today’s youths are the first generation of those born and raised in a fully digital age. They are also key contributors to creating social value in the future, and for this reason, we need to really consider how we can provide these young talents with a growth-enabling environment and practical opportunities so that they can gain knowledge, improve their employment skills, broaden their horizons, and realize their value”.
He disclosed that the organization would be committed to helping nurture the future of the children by constantly sending professionals that would hold classes to educate them and motivate them towards an impactful future.
Also at the ceremony is Mr. Mohamed Fouani, the Managing Director, Fouani Nigeria Limited, said the school, which he said had been in existence before the organization started operating in the environment, deserves to benefit from the operation of the Consumer Electronics firm, which majors in Electronics—Home Entertainment and Home Appliances.
Stressing that the renovation was a priority for the company, he pledged that the company would do more and continue its quest across other aspects of the school.
Fouani said the inspiration behind the project is aimed at providing a conducive learning environment for schoolchildren, who are the future leaders.
“We are giving back to society. Most of us who are partners with the firm now obviously went to public schools, and then things turned around. Now everybody wants to go to a private school, and we just thought that it was important to put ourselves back where we came from.
Mr. Olumide Badmus, the principal of United Christian Junior Secondary School, who was full of excitement while responding, thanked the management of LG Electronics and Fouani Nigeria Limited for the gesture.
Mrs. Abosede Ajayi, the Director, Education Management Information Service, representing the Tutor General/Permanent Secretary Education District IV, noted that the gesture was one that will spur the students to be more dedicated to their learning, stressing that an investment in education is securing a better future for not only the benefiting individuals but for the country at large.
She promised LG Electronics and Fouani Nigeria Limited that the classrooms would be efficiently maximized
In his vote of thanks, the principal of the school, Mr. Olumide Badmus, said that he was delighted by the gesture done during his time.
“Out of the six schools in Apapa Local Council Development Area, this school was chosen to do this CSR project. I can boldly say that our school can now be put on par with most Lagos Model Schools; the students are better motivated and feel more comfortable”.
LG Electronics, in partnership with Fouani Nigeria Limited, renovated the school by restoring light to the classrooms, adding doors and modern windows, painting the school, rehabilitating the basketball court, making new seats for the classes, installing solar power, planting green plants, and equipping the home economics lab with products.
This renovation and equipping of the school building will help the students to receive a better-quality education and improve their learning experience. LG Electronics and Fouani Nigeria Limited are proud to be part of this important initiative and look forward to further developing the school’s infrastructure and educational resources.
Development Bank of Nigeria (DBN) has awarded a total of N13 million in grants to three standout tech startups at the 2025 Techpreneur Summit held in Lagos, reinforcing its commitment to innovation and inclusive growth among Nigeria’s micro, small, and medium enterprises (MSMEs).
The winners include: BuyScrap, a digital marketplace for recyclable materials – N6 million; Qiqi Farms, which connects local farmers to hospitality and export markets – N4 million; Eco-Cyclers, a youth-led recycling initiative based in Enugu – N3 million
Alongside the grant awards, DBN also launched a new digital data asset, a first-of-its-kind platform aimed at enabling data-driven decisions within the MSME ecosystem.
The platform offers deep insights into business trends, sector-specific challenges, and growth opportunities—supporting smarter policymaking and targeted investments.
In his keynote address in Lagos, Tony Okpanachi, managing director/ CEO, DBN, described the event’s theme, “CTRL + SHIFT: Tech Empowered Movement for Naija,” as a strategic call to reimagine enterprise development in Nigeria.
“This isn’t just a keyboard shortcut,” he said. “It’s a mindset reset—powered by technology—to build a more inclusive, innovative, and resilient business landscape. From financing to innovation, DBN remains committed to enabling MSMEs to thrive.”
Okpanachi emphasized that the Summit aligns with DBN’s AMPLIFI Strategy, which integrates digital transformation, sustainability, and scalability into its core programs.
He highlighted initiatives such as the Digital Shift Workshops and the Eco-Innovation Challenge as key steps toward embedding innovation in Nigeria’s MSME sector.
Encouraging young innovators, he added: “The future belongs to those bold enough to imagine and build it. DBN is proud to support the ideas that will shape tomorrow.”
A major highlight was the unveiling of the DBN Data Asset—a digital platform designed to provide real-time, evidence-based insights into Nigeria’s MSME landscape.
The platform combines DBN’s proprietary data with external sources like the National Bureau of Statistics (NBS) to offer a comprehensive view of MSME performance by region and sector.
Jeremy Dan Okayi, DBN’s Head of Strategy, Policy & Innovation, described the platform as: “A reservoir of insight, potential, and direction—built on two years of collaboration and shared vision. This tool will support informed decision-making across the public and private sectors.”
News
FCCPC Shuts France, Belgium, and Italy Visa Centres in Abuja Over Alleged Consumer Rights Violations
In a bold enforcement action, the Federal Competition and Consumer Protection Commission (FCCPC), supported by the Nigeria Police Force and the Nigeria Security and Civil Defence Corps (NSCDC), has sealed off the visa application centres of France, Belgium, and Italy in Abuja over alleged consumer protection breaches and obstruction of regulatory investigations.
The affected centres—located at Mukhtar El-Yakub House in the Central Business District and operated by TLS Contact, a Teleperformance Company—were shut down following reports that they refused to accept formal correspondence from the FCCPC regarding a consumer complaint. The Commission cited further infractions, including obstruction of investigation and alleged assault of its officers during lawful duties.
Speaking to journalists at the scene, Mrs. Boladale Adeyinka, Director of Surveillance and Investigations at the FCCPC, explained: “This is an enforcement operation against TLS. On March 25, 2025, we served them a letter to address a consumer complaint, which they refused to accept. Instead, TLS officers assaulted our team, and in a subsequent visit on June 17, they also allegedly assaulted uniformed police officers.”
Citing Section 33 of the Federal Competition and Consumer Protection Act (FCCPA), Mrs. Adeyinka emphasized that failure to comply with Commission directives constitutes a criminal offense, punishable by imprisonment, fines of up to ₦20 million, or both.
TLS has been ordered to appear before the Commission on June 20, 2025, to provide testimony, submit evidence, and make formal depositions. The company may be held liable for any financial losses suffered by applicants due to the disruption of visa services.
Despite multiple requests for comment, management at TLS Contact declined to respond as of press time.
Adedapo Segun, chief financial officer (CFO), Nigerian National Petroleum Company Limited (NNPC), has explained why there is a missing sum of N210 trillion in the company’s audited financial statement spanning from 2017 to 2023.
According to Segun, the missing funds are cash calls requested by joint venture (JV) partners and settlement to the JVs.
He spokeat a session of the Senate Committee on Public Accounts chaired by Aliyu Wadada.
Segun was responding to an alarm raised by the committee over missing N210 trillion in NNPCL’s audited financial statement.
Recall that Wadada issued a one-week ultimatum to NNPCL to account for the missing N210 trillion.
Reacting, Segun said, “The N103 trillion and N107 trillion are made up of joint venture cash calls that have been requested by the JV operators and JV cash call payments made by NNPCL, which are yet to be reconciled because governance procedures were not done at that time.
“That is why you see the description reflecting those two items would be washed out because they are two sides of the same transaction, which is the cash calls by JV partners and the settlement by NNPCL.”
However, Habu Sadeik, a financial analyst, in a post on X on Thursday, said Segun’s response was unsatisfactory.
Saidik faulted NNPCL’s response about the fund discrepancies, noting that something is not right with the audited financial statement.
“Forget about the senators’ lack of knowledge.
“The CFO’s response is not satisfactory. Are you saying that cash calls worth hundreds of trillions are just appearing on your FS only in 2024 without 31 disclosure?
“If it’s a cash call, why hasn’t the disclosure said so?
“Which cash call is over 100 trillion?
“Something is definitely not right, and I hope they retrospectively correct that FS.
“Someone somewhere did a chef’s work,” he wrote on X.
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