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Ohaegbue Calls for Review of Licensing Fee

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Emma Ohaegbue   managing director, Migfo Express Courier Freight has called for the review of the licensing fee charged by the Courier Regulatory Department, the regulatory body for the postal and courier sector in Nigeria saying that most courier operators are left with little or nothing to do the real business after paying the mandatory one million naira registration fee.
Ohaegbue said that courier services generally are facing financial problems and can not do much to move the industry forward. He said that lack of finance is responsible for the proliferation of mushroom courier companies in the country and frowned at banks refusal to give loans to entrepreneurs.
 “It becomes very difficult for banks to give loans these days except if you are highly connected or that you know somebody in the bank otherwise banks ordinarily are supposed to assist courier companies. As courier companies are opening up branches in various parts of the federation, they are also employing staff and putting other logistics in shape. This takes a lot of money. Courier business takes sometime before you start reaping return, “he said.
Ohaegbue explained that Migfo Express is derived from Migfo Group Nigeria Limited, a freight forwarding services company that has a bonded warehouse in Lagos.  He said the company incorporated courier business to assist Nigerians in the area of employment and informed that as soon as the company picked the courier license, it started the expansionist policy by opening up branches in the six geopolitical zones of the country to enhance good delivery of services.  The company offers haulage, freight, logistics and courier services. Ohaegbue revealed that the strength of the young courier outfit lies in its good service delivery saying that among its peers that the company competes favorably, stressing that, at some point courier used to be their niche area but that the entrance of transporters into the delivery of letters affected the margin of the business which necessitated their diversification into other areas.
Ohaegbue advocated for consolidation in the courier sector. According to him, if the registered courier companies can come together and merge it will augur well for the industry in terms of efficiency and capacity even as he also harped on the issue of professionalism in the sector.  He said that most people set up courier companies without employing courier professionals to run the business advising that such money bags should make out time to attend seminars organized by the Courier Regulatory Department.
He hinted that the company will go into extensive expansion before the end of last quarter of the year to beef up its haulage business.

 


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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E-Business

Kaspersky Launches OT Calculator to Align Cybersecurity Investments with Business Goals

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Kaspersky’s new online tool has been specially developed for industrial organisations to assess the potential costs associated with insufficient operational technology (OT) security.

By offering detailed financial forecasts, the calculator empowers senior management to make well-informed decisions regarding security investments.

Industrial organisations increasingly depend on interconnected systems, elevating cybersecurity to a critical factor in business resilience and profitability.

According to VDC Research, over 60% of industrial companies last year reported that cybersecurity breaches had led to significant costs. Despite this, a persistent disconnect remains between security teams and executive leadership as security professionals focus on minimising risk, while executives must balance cybersecurity concerns with broader business objectives. This misalignment often results in competing priorities and underfunded security initiatives.

To bridge this gap, Kaspersky has launched the OT Cybersecurity Savings Calculator, an innovative online tool designed specifically for industrial organisations to assess the potential costs of inadequate operational technology (OT) security¹.

The primary aim of this tool is to translate cyber risks into tangible financial metrics and support strategic discussions around priorities and budget allocation. By entering details such as their sector, sub-sector, region, company size, breach history, and existing cybersecurity measures, organisations can estimate their potential cost savings and receive customised, actionable recommendations.

The calculator benchmarks performance against industry peers and highlights the company’s position within the current threat landscape.

“We believe this calculator is a powerful resource for transforming complex cyber risk data into straightforward financial insights. It enables OT leaders, security professionals, and executive teams to develop clear, data-driven business cases and recognise the value of cybersecurity investments. With actionable guidance, it promotes a comprehensive approach to resource management and strengthens overall organisational resilience,” comments Andrey Strelkov, Head of Industrial Cybersecurity Product line at Kaspersky.


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Stanley Amandi, Nollywood Actor Arrested over Alleged Coup Plot against Tinubu

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Stanley Amandi, veteran Nollywood actor and filmmaker, has been arrested by the Nigerian military over his alleged role in a foiled coup plot to overthrow President Bola Tinubu’s government, according to an exclusive report by Premium Times.

Stanley Amandi, Nollywood Actor Arrested over Alleged Coup Plot against Tinubu

Stanley Amandi, Nollywood Actor

The filmmaker, also a former chairman of the Actors Guild of Nigeria (AGN) Enugu State chapter, was reportedly detained in September 2025 alongside several military officers accused of planning a violent overthrow, including potential assassinations of top officials, according to the newspaper’s sources.

Reports indicated that the coup plotters planned to wholesale assassination of top government officials including President Tinubu, Vice President Kashim Shettima, Senate President Godswill Akpabio, and Speaker of the House of Representatives Tajudeen Abbas, among others.

On Monday, the Defence Headquarters confirmed the plan to illegally oust the Tinubu administration, saying the indicted officers will be arraigned before military judicial panels.

In its statement, the Defence Headquarters said the investigation has been completed and forwarded to “appropriate superior authority in line with extant regulations.”

According to the military, the investigation was “comprehensive” and conducted in line with established procedures, examining “all circumstances surrounding the conduct of the affected personnel.”

The military disclosed that the findings identified “a number of the officers with allegations of plotting to overthrow the government,” describing such conduct as “inconsistent with the ethics, values and professional standards required of members of the Armed Forces of Nigeria.”

Mr Amandi has featured in many Nollywood movies and is known for his work as an actor, production manager and director.

His notable works include “The Album,” where he served as director; “Tiger King,” where he also served as director and produced in 2008; “Cornerstone,” produced in 2019; and “Once Upon a Dream,” in which he appeared as an actor in 2024.

Mr Amandi’s last Instagram post was on 19 September 2025, shortly before his arrest.


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E-Financial

FBNQuest Merchant Bank Rebrands as Quest Merchant Bank

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FBNQuest Merchant Bank Limited has completed a change of name and will now operate as Quest Merchant Bank Limited, following the receipt of all required corporate and regulatory approvals.

The name change does not affect the Bank’s legal or going-concern status, management, or the nature of its business. Quest Merchant Bank Limited remains a duly licensed merchant bank, regulated by the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC), and continues to deliver its full suite of merchant banking, advisory, and capital markets services to clients.

Commenting on the development, the Ag. Managing Director/CEO, Afolabi Olorode, stated: “This name change represents a pivotal milestone in the rich history of the Bank and a deliberate strategic repositioning that reflects our resilience, strong track record, and long-term growth ambitions. While our name has evolved, our commitment to our clients, stakeholders, and regulators remains unwavering.”

As part of the transition, the Bank is updating its branding, communications, and digital platforms to reflect the new name. During this period, some legacy references may remain visible across select touchpoints as updates are progressively completed.

All existing contracts, client relationships, and obligations of the Bank remain valid, binding, and fully enforceable following the name change.


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