General News
Norfund Invests in OH Ecosystems to Create Jobs in Cocoa Processing in Nigeria

Through an investment of USD 12 million in OH Ecosystems Ltd (“Eco”), Norfund, the Norwegian Investment Fund for developing countries, aims to create jobs in Nigeria, while contributing to addressing some of the challenges in the cocoa value chain.

OH Ecosystems Ltd (“Eco”) builds and operates cocoa processing and confectionery businesses on the African continent.
Eco has successfully acquired a majority stake in FTN Cocoa Processors PLC (“FTN”)—a publicly traded company based in Ibadan, Nigeria. With 20,000 metric tons of installed capacity, FTN transforms cocoa beans into semi-finished products (cocoa liquor, butter and powder) for commercialization to global and local clients. Prior to this investment, FTN had been dormant and underutilised for several years.
Norfund’s investment will upgrade FTN’s operating facilities and extend its reach to produce and sell additional products into the cocoa supply chain. Eco is supported by established leaders in the global cocoa chain including Niche Cocoa Industry Ltd, Africa’s largest indigenous cocoa processor, who will serve as technical partner.
Increasing the share of cocoa processed locally.
At 4 million metric tons per year, West Africa produces more than 75% of the world’s cocoa. In 2021 Nigeria produced 290,000MTs, ranking 4th behind Cote d’Ivoire, Ghana, and Cameroon. Unfortunately, more than 70% of West Africa’s cocoa is exported as raw material with no significant value addition.
Norfund’s investment directly supports the increase of local, value-added transformation leading to quality job creation, local tax revenues, and foreign exchange for West Africa’s cocoa-producing countries. The investment furthers Norfund’s strategy to help create sustainable, scalable businesses in Sub-Saharan Africa that promote value addition at origin.
“Increasing the share of raw materials that are processed locally can create a large number of jobs that give the fast-growing population of Nigeria the opportunity to work their way out of poverty, and we are confident that this investment can contribute to this,” says Obafemi Awobokun, Investment Manager at Norfund.
“We are thankful for Norfund’s partnership as we focus on building out value-add production in Nigeria. Having partners who are aligned over the long-term on both the financial and social impact of our work is extremely important.
“Together, we can contribute to Nigeria’s agricultural manufacturing with a focus on financial sustainability for farmers in the value chain.” says Nathaniel Durant, Managing Director of Eco.
“This is a strategic alliance come through that will help FTN sew up her pursuit of conversion of cocoa beans, job creation, contribution to the economic diversification goals of the government, delivering value to stakeholders and actualising the vision of being a global player” says Akin Laoye, Managing Director of FTN.
Norfund’s investment will help create both technical and non-technical employment directly for 600 people and indirectly for more than 1,500 across the cocoa value chain. The investment also contributes towards the Nigerian government’s efforts to diversify export revenues by reducing its reliance on oil and gas.
Contributing to tackle challenges in the value chain
The cocoa sector faces challenges related to working conditions and the use of child labour, as well as environmental concerns. Norfund is committed to supporting companies that seek to operate in a sustainable manner, in sectors with challenging dynamics.
As part of the partnership, Norfund will support Eco’s efforts in establishing a sustainable supply chain through its farmer empowerment programme dubbed ‘EcoWise’. The programme seeks to address farmer poverty, which is one of the root causes of child and forced labour in the cocoa value chain.
Eco has partnered with industry experts to establish a farmer-focused program that ensures fair compensation, improved extension services, and training for farmers working with Eco’s operating units. The program has been previously piloted in Ghana.
“The cocoa sector is a very important one for Nigeria and West Africa and could be a key one in the push to diversify Nigeria’s revenue sources. By partnering with this management team which has deep sector experience in West Africa, a strong technical partner, local investors and current owners, we aim to contribute positively to this effort.
“This investment also presents us the opportunity to partner with these stakeholders to increase local processing of cocoa beans and thus capture more of the value chain dollars at origin, to create jobs and to positively impact the fight against child and forced labour and deforestation in this important value chain,” says Naana Winful Fynn, Regional Director for West Africa for Norfund.
General News
How JustMarkets Is Empowering African Traders with Global Market Access

Africa’s trading community is rapidly growing, evolving, and showing increasing interest in financial markets. From Lagos to Nairobi, from Accra to Johannesburg, more and more people are exploring financial markets as a way to develop skills, earn income, and participate in the global economy. But the ability to trade isn’t enough; traders also need reliable technology, fair conditions, and tools that help them make informed decisions and trade effectively.

JustMarkets
This is where trading platforms like JustMarkets make a significant contribution to the development and expansion of the trading community in the African region.
By combining global market access with a results-oriented trading environment, JustMarkets helps African traders compete head-to-head with those in the world’s largest financial centers, providing access to tight spreads, a wide range of analytical materials, and a variety of account types.
Breaking Barriers to Global Markets
For years, traders in emerging markets have faced limitations: slow platforms, a limited range of instruments, low liquidity, wide spreads, and infrastructure that hinders professional trading and effective analysis. Today, JustMarkets addresses this significant gap by providing African traders with access to a wide range of global financial instruments through a single, optimized online platform.
Now traders have the opportunity to test short-term strategies, long-term portfolio diversification, and learn how markets work. Traders can now explore opportunities in forex, commodities, indices, and stock markets without geographic barriers or technical difficulties.
A Trading Platform Built for Performance
Technology plays a critical role in modern trading. Market conditions can change in seconds, and execution speed often makes the difference between opportunity and missed entry. The JustMarkets leading trading platform is designed to support fast, confident decisions in real time.
Ultra-fast execution. Engineered for low-latency order processing, the app helps ensure trades are executed quickly and efficiently when markets move.
Full risk management. Stop-loss, take-profit, and position sizing can be managed directly from the chart, helping traders stay disciplined and protect capital.
Advanced charting. Interactive charts, multiple timeframes, drawing tools, and built-in indicators provide the analytical depth needed for informed trading decisions.
Real-time alerts. Instant notifications about price movements, order events, and key market developments help traders stay connected even when they’re away from the screen.
Secure authentication. Biometric login, encrypted data transmission, and advanced internal security protocols ensure that accounts and personal data remain protected.
This combination of speed, usability, and security makes professional-grade trading accessible from anywhere, even on the go with JustMarkets mobile trading app.
Trade a Wide Range of Global Markets
Access to diverse instruments allows traders to adapt to different market conditions and explore multiple strategies. JustMarkets provides African traders with the ability to participate in major asset classes worldwide.
Forex. Trade major, minor, and exotic currency pairs with competitive pricing and deep liquidity.
Gold & Metals. Access precious metals such as XAUUSD and XAGUSD, popular instruments for active traders and those seeking exposure to global macro trends with competitive spreads.
Indices. Engage with leading global stock indices including the S&P 500, NASDAQ, Dow Jones, DAX, and FTSE – markets that reflect the performance of major economies.
Stocks. Trade shares of global companies and high-volume market leaders, opening opportunities to follow international corporate trends.
Energy. Speculate on key energy commodities such as WTI and Brent crude oil, instruments often influenced by geopolitical and macroeconomic developments.
This broad market selection helps traders diversify and respond flexibly to changing global conditions.
Supporting Trader Development
Expanding technical, educational, and analytical capabilities extends beyond technology. JustMarkets also places a special emphasis on helping traders build knowledge and confidence. Access to educational materials, market analysis, and structured risk management tools fosters a more disciplined and informed approach to trading, including setting trading goals.
For many African traders, this means moving from random speculation and emotional trades to a more professional mindset, and most importantly, understanding that long-term success depends on strategy, risk management, continuous learning, and a cool head.
Connecting Africa to the Global Financial Ecosystem
Financial markets are becoming increasingly interconnected, with traders from all regions now participating in the same global capital flow. Offering advanced tools such as flexible leverage, fast order execution, and broad access to markets and trading assets, the JustMarkets online trading platform helps African traders become active participants in this ecosystem with full access to analytical and educational materials, as well as cutting-edge technological solutions for managing trades, accounts, and open positions. JustMarkets’ commitment to empowering traders, increasing financial literacy, and enabling people to engage with global markets on a level playing field. As the African trading community grows, online trading platforms like JustMarkets, which combine performance, accessibility, and security, will play a key role in this process. But pay attention that risk management still is a key to success as CFD trading involves risks.
General News
Court Freezes MCSN Copyright Levies amid Record Label Legal Battle

Justice Ambrose Lewis-Allagoa of the Federal High Court, Lagos, has issued an interim Mareva injunction freezing copyright levy funds due to the Musical Copyright Society of Nigeria (MCSN).

The order prevents the Central Bank of Nigeria (CBN) and at least 20 commercial banks from disbursing these funds until further court proceedings.
The injunction stems from Suit No. FHC/L/CS/207/2026, following an ex parte application filed on February 5, 2026, by the Record Label Proprietors’ Initiative on behalf of 11 major record labels and music companies.
Plaintiffs include industry heavyweights such as Mavin Records, Davido Music Worldwide, Chocolate City Music, Universal Music Group, Sony Music Africa, and Warner Music South Africa.
The plaintiffs, through their attorney, sought to restrain the CBN from releasing any copyright levy funds related to sound recordings earmarked for MCSN.
They also asked the court to bar MCSN and its agents from accessing, transferring, or using the funds, whether received directly from the CBN or routed through commercial banks.
General News
NITDA, HORSA Empower Lawmakers’ Spouses with Digital Skill

The National Information Technology Development Agency (NITDA), in partnership with the House of Representatives Spouses Association (HORSA), organized a specialized two‑day digital literacy and capacity‑building workshop for the spouses of members of the House of Representatives.

The initiative, themed “Empowering Women for a Digital Future: Leadership, Wellbeing, and Opportunity,” is designed to equip spouses of lawmakers with the tools needed to navigate the modern digital economy and the unique demands of public life.
Moving beyond basic computer literacy, the workshop offers a comprehensive suite of skills, including financial and digital literacy—focused on using digital tools for business growth and personal finance management; cybersecurity and digital wellbeing—promoting online safety, data protection, and mental health resilience; and economic empowerment—unlocking opportunities in remote work, Business Process Outsourcing (BPO), and digital entrepreneurship.
Declaring the workshop open on behalf of the Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, PhD, the Deputy Speaker, Rt. Hon. Benjamin Okezie Kalu, said the workshop underscores the crucial role spouses play in supporting public office holders. He described spouses as trusted advisers whose understanding of legislative responsibilities helps lawmakers perform more effectively.
He noted that the demanding nature of legislative work often places strain on family life, adding that empowering spouses with digital and leadership skills would strengthen their capacity to provide informed support and constructive feedback to their partners in public service. He urged participants to take full advantage of the training, stressing that continuous learning is essential in an increasingly digital world.
Kalu further observed that many spouses already lead humanitarian and development initiatives in their communities, and that the skills gained from the programme would enhance communication, strategic planning, and resource mobilisation, thereby deepening their contribution to community development and national growth.
In his welcome address, the NITDA Director‑General, Kashifu Inuwa, said the initiative aligns with the Federal Government’s drive to build a sustainable digital economy by ensuring that no group is excluded from digital opportunities due to skills gaps. He noted that the Renewed Hope Agenda of Bola Ahmed Tinubu places digitalisation and innovation at the heart of economic diversification and inclusive growth.
He added that NITDA is implementing a national digital literacy framework aimed at achieving 95 per cent digital literacy by 2030, driven through three key focus areas: integrating digital skills into formal education, upskilling public servants, and expanding community‑level digital inclusion.
Inuwa described women as critical drivers of Nigeria’s digital transformation, noting that empowering spouses of lawmakers with digital skills would strengthen leadership at home and positively influence legislative processes at the National Assembly. He explained that NITDA is working with the Ministry of Education and global technology partners to train teachers nationwide, while over 54,000 public servants are currently enrolled in the Agency’s digital literacy programmes.
He also stated that through community champions deployed across the 36 states and the Federal Capital Territory, millions of Nigerians are being reached annually with basic digital skills training, stressing that national leaders must not be left behind in Nigeria’s digital transition. According to him, digitally literate spouses can play a vital role in encouraging technology‑driven governance, including ongoing efforts to digitise legislative processes.
In her goodwill message, the Leader of HORSA and wife of the Speaker, House of Representatives, Hajiya Fatima Tajudeen Abbas, described the workshop as a historic milestone and the first comprehensive capacity‑building programme organised by the 10th Assembly for spouses of lawmakers. She noted that public life in a digital age now extends beyond physical spaces into online platforms, making digital and financial literacy, cyber protection, and digital wellbeing essential skills for spouses of national leaders.
Hajiya Abbas emphasised that the sessions on mental health, emotional resilience, entrepreneurship, and leadership were timely, as spouses of public office holders often shoulder invisible emotional responsibilities. According to her, empowering women economically strengthens families and communities, adding that the knowledge gained from the workshop would not only support lawmakers behind the scenes but also enable women to contribute more meaningfully to national development in the digital economy.
The event also featured goodwill messages and contributions from senior government officials, including the Chief of Staff to the President, Hon. Femi Gbajabiamila; the Honourable Minister of Women Affairs and Social Development, Hon. Imaan Sulaiman Ibrahim; the Chairperson of the Nigeria Governors’ Spouses’ Forum, Prof. (Mrs.) Olufolake Abdulrazaq; the Chairman of the House Committee on ICT, Hon. Stanley Olajide; the Chairperson of the House Committee on Women Affairs and Social Development, Hon. Kafilat Ogbara; and the Managing Director of the South-South Development Commission, Usoro Offiong Akpabio.
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