News
Nigeria Taps $190M JICA Loan to Power Underserved Communities

Nigeria is seeking a $190 million renewable energy loan backed by the Japan International Cooperation Agency (JICA), according to Adebayo Adelabu, minister of power.

Minister Adebayo-Adelabu
In a statement released by the ministry on Saturday, Adelabu disclosed the plan during the 9th Tokyo International Conference on African Development (TICAD 9) in Yokohama, Japan, where the Nigerian delegation led by President Bola Tinubu held high-level discussions on power, infrastructure, and industrial transformation.
Adelabu said the facility is aimed at scaling distributed renewable energy solutions across underserved communities. “This builds on the recently launched $750 million World Bank Distributed Access through Renewable Energy Scale-up (DARES) programme under the Mission 300 Compact, which aims to bring clean and reliable electricity to more than 17 million Nigerians,” the ministry said.
The minister also held talks with Japanese corporations including Toshiba, Hitachi, Japan’s transmission and distribution corporation, and energy exchange corporations. Discussions focused on strengthening transmission infrastructure, improving operational efficiency, and cutting system losses.
The ministry said these engagements build on recent Federal Executive Council approvals for counterpart funding of N19.08 billion to unlock a $238 million loan from JICA. The loan will finance the expansion of the national grid, including the construction of over 200km of new 330kV and 132kV double circuit lines, six new substations, and extensions to existing facilities.
Three substations funded through a $32 million JICA grant—located in Apo (FCT), Keffi (Nasarawa), and Apapa (Lagos)—are also set for commissioning, a move expected to boost supply reliability for households, industries, and business hubs, including the Lagos Port.
Speaking during a panel session themed “HICKARE Africa: Harnessing Innovation, Co-creation, and Knowledge for Accessible and Resilient Energy for Africa”, Adelabu highlighted Nigeria’s energy gap, noting that only 55–60 percent of the population currently has access to electricity, much of which is unreliable.
He outlined the government’s approach to expand grid access in urban areas while accelerating off-grid solutions such as solar mini-grids and standalone systems in rural and peri-urban communities. He pointed to challenges including limited access to affordable capital, high costs for rural households, and the under-utilisation of productive-use equipment.
Despite these hurdles, the minister reaffirmed the government’s commitment to reforms through supportive policies, private-sector collaboration, and increased local manufacturing of renewable energy components.
Adelabu commended JICA and the Japanese government for their “long-standing support” to Nigeria’s power sector, praising their contributions to infrastructure, training, technical studies, and financing. He expressed optimism for deeper partnerships between both countries in driving Nigeria’s energy transition.
News
Access Holdings Sets New Benchmark in Nigeria’s Finance Talent Pipeline

New data from CFA Society Nigeria is reshaping how the country’s financial sector thinks about talent development, with Access emerging as the single largest source of CFA candidates in Nigeria, distinction industry watchers say signals a deeper shift in how leading institutions are building investment expertise from within.

In its Where Nigeria’s Finance Professionals Work series, published in a national daily, CFA Society Nigeria placed Access first among employers of CFA candidates nationwide, with 82 candidates enrolled in the programme, more than double the 38 recorded at the next-placed institution and well ahead of every other bank or financial services firm on the list.
Access also ranked second among employers of CFA charterholders, with 11 professionals who have completed all three levels of the Programme and met its experience and ethics requirements.
For an industry that has long measured itself by balance sheet size and branch count, the rankings point to a different kind of competition: one over who is building the deepest bench of certified, globally credentialed talent.
CFA Society Nigeria compiled the data from its Salesforce Membership Database as at June 2026, and described the exercise as a way of recognising employers whose people “bring rigour, integrity and global best practices into the workplace every day.”
Analysts following the sector say the outcome is notable less for the ranking itself than for what it suggests about talent strategy across Africa’s financial services industry. A single institution developing more aspiring charterholders than the rest of the market combined raises the floor for professional standards nationally, not just within one balance sheet.
Every candidate who advances through the CFA Programme adds to a shared pool of ethics-trained, analytically rigorous professionals that Nigeria’s capital markets, pension funds and asset managers all eventually draw from.
Access Holdings Group Chief Executive Officer Innocent C. Ike, commenting on the rankings, framed the achievement in terms of institution-building rather than recruitment: “Every candidate on that list represents our commitment to building institutions and professionals that endure.”
The remark echoes a broader thesis increasingly voiced by market observers, that talent depth, not scale alone, is what will determine which African financial institutions earn lasting global credibility.
That distinction sits at the centre of Access’s stated ambition to become the World’s Most Respected African Financial Services Group. If the CFA numbers are any indication, the Group’s route to that goal runs less through square metres of branch network and more through the calibre of the people sitting inside it, a bet that Nigeria’s finance professionals, and the institutions that will one day hire them, are already placing alongside Access.
News
NCAA to Introduce RFID Technology to Tackle Missing Luggages

Nigeria Civil Aviation Authority (NCAA) has announced plans to introduce Radio Frequency Identification (RFID) baggage tracking technology across domestic and international airport terminals to tackle the growing problem of delayed, misrouted and missing luggages

Michael Achimugu, director, Public Affairs and Consumer Protection, NCAA, disclosed this at a stakeholder engagement forum in Lagos.
Achimugu said the RFID-enabled system would replace the traditional barcode-based baggage tracking framework and provide airlines and passengers with real-time visibility of checked luggage from check-in to final collection.
According to him, the technology would improve baggage traceability, reduce mishandling and strengthen accountability across the baggage-handling chain.
Unlike conventional barcode systems, RFID technology allows baggage to be automatically scanned at multiple points without requiring direct line of sight, enabling real-time tracking of luggage throughout its journey.
Achimugu said issues involving short-landed, missing, lost or damaged baggage had remained among the major complaints from air travellers, alongside flight delays.
He said the introduction of RFID technology was therefore aimed at improving baggage-handling standards and restoring passenger confidence in the aviation sector.
The NCAA said the initiative also aligns with IATA Resolution 753, which requires airlines to track baggage at key points during the passenger journey.
The authority expects the technology to provide more accurate information on the location of luggage, facilitate quicker resolution of baggage-related complaints and improve the overall passenger experience.
The NCAA said the initiative would also strengthen accountability among airlines and other stakeholders involved in baggage handling at Nigerian airports.
News
Firm Urges MSMEs to Increase Digital Payments Adoption for Growth

eTranzact International Plc has called for increased adoption of digital payment solutions among micro, small and medium enterprises (MSMEs), saying access to technology is critical to improving business efficiency, financial inclusion and growth.

The company also said it was deepening its partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to expand digital access and financial literacy among small businesses across the country.
In a statement, the Divisional Head, Merchant Services, eTranzact, Mrs. Abimbola Reis, stated this at the SMEDAN/eTranzact Town Hall Engagement in Lagos recently, themed, “Financial Literacy and Inclusion for MSMEs Leveraging on Fintech Innovation.”
Reis described MSMEs as the backbone of Nigeria’s economy, noting that the sector comprises almost 40 million businesses and contributes significantly to economic growth and job creation.
However, she said many businesses continue to face challenges including limited access to finance, inefficient payment systems, weak financial reporting, cash-flow constraints and inadequate access to digital platforms.
She added that trust concerns also affect businesses’ ability to access finance, while heavy reliance on cash increases exposure to theft and makes payment reconciliation more difficult.
Representing the Director-General of SMEDAN, Prof. Yinka Fisher said the town hall was aimed at generating practical ideas and solutions that would support the growth and expansion of MSMEs.
“The essence of this engagement is to share ideas and concepts that will help MSMEs thrive and expand. Our partnership with eTranzact is about expanding the frontiers of MSMEs and ensuring they continue to grow,” he said.
Also speaking, representative of the Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dr. Praise Adedigba said businesses could no longer depend solely on hard work to remain competitive.
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