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Pension payment to Embrace E-Payment

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The payment of pension claims in Nigeria has over the years been shrouded in pains and agony. Many have died trying to collect their retirement benefits. Unfortunately the various efforts made in the past to redress this issue have snowballed in disappointment. However all that is about to change now, courtesy the outcome of a workshop which was organized recently to address the lapses. The event was the gathering of top pension professionals where about 70 senior pension industry executives from 25 Pension Fund Administrators and Custodians met to discuss and share experiences on e-Pension and e-Payment at a workshop held in Lagos. The strategic workshop tagged Remita e-Payment and e-Pension was organized by SystemSpecs for pension industry stakeholders to discuss among other things, the implications of the Central Bank of Nigeria Payment System Vision 2020 mandate on e-Payment as it relates to pension contribution remittances and retirees pension processing and payment. John Obaro, Managing Director SystemSpecs, in his speech reiterated the need for all stakeholders to continue to work together to achieve operational efficiency, optimize internal operations and empower employer organizations to meet e-Payment regulatory requirements while remitting her employees’ pension contributions.
Obaro enumerated that a true e-Payment solution should enable a user to achieve the following: view consolidated bank balances across multiple banks on a single screen, End-to-End processing of all payments electronically, conduct multi-bank activity from just one place, and replicate an existing payment workflow. He also added that Remita e-Pension provides additional capability for an employer to remit its employee pension contribution with appropriate schedules delivered to applicable Pension Administrators and Custodians electronically. Dr. Hakeem Bakare, Group Head, Corporate Strategy SystemSpecs stressed that “Remita Pension solution has the capability to deliver funds to the account of Pensions Administrators and matching schedule to relevant parties electronically. This will eliminate a major challenge confronting the pension industry in Nigeria” Some of the participants spoke of their impressions about the initiative. Dotun Adebayo, Head Contributions UBA Pension Fund Custodians said it was a “very good initiative, whose successful implementation will address core problems in the pension industry.”
Insurance Industry Premium Soars, Hits N200bn
If experts’ prediction that insurance would be a leader under the financial services regime is anything to go by, then there are indications that the premium earnings of the industry may greatly reposition the industry very shortly. According to statistics from the Nigerian Insurers Association (NIA), at its 39th Annual General Meeting (AGM)  held recently, the nation’s insurance industry has recorded a premium income of N200.6 billion for the financial year ended December 31, 2009, as against N150.3 billion which it achieved within the same period in 2008, indicating a 33.5 percent growth. Barrister Tobi Olagunju, while assessing the situation stated that the growth was largely necessitated by the various reforms and recapitalization which the industry embarked upon in the past four years.
He recalled that “soon after the capitalization the increased confidence in the industry led to enhanced investors confidence and the relative trust of the insuring public.” He added that the reforms led to a significant boost in the capital base of operators, a situation that has earned it a competing edge at least in Africa. Olagunju stated that but for the reforms, the investment drive which operators have extended to the African insurance market would have been impossible. He explained that the recapitalization raised the industry stake from less than N30 billion in 2005 to about N200 billion in 2007.
According to Wole Oshin while speaking at the meeting, the non life premium contribution to the premium base produced N161.4 billion while life business contributed 39.15 billion. He explained that motor business contributed the highest premium amounting to N41.67 billion as against N32.04 billion the previous year. This was followed by general accident insurance which contributed N30.98 billion followed by oil and gas business which generated N25.53 billion. On the other hand, marine and aviation came fourth in terms of premium generation, contributing N18.74 billion while fire business followed with a contribution of N17.3 billion.
Oshin added that that expectation of the NIA would be surpassed if insurance companies continue to evolve dynamic strategies to expand the frontiers of their businesses. He also extended his confidence to the new initiatives of the National Insurance Commission (NAICOM) in the area of product awareness and the Market Development and Restructuring Initiative (MDRI).

 


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NCDC Predicts Cholera Outbreak in 10 States as Heavy Rains Loom

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Nigeria Centre for Disease Control and Prevention (NCDC) has warned of an imminent cholera outbreak in 10 states following forecasts of heavy rainfall and possible flooding across parts of the country.

NCDC Predicts Cholera Outbreak in 10 States as Heavy Rains Loom

The agency said flood predictions issued by the Federal Ministry of Environment and the Nigerian Meteorological Agency (NiMet) indicated that parts of Adamawa, Enugu, Kaduna, Kogi, Niger, Osun, Oyo, Plateau, Taraba and Kwara states may experience heavy rainfall and flooding between April 13 and 17, 2026.

In a public health advisory signed by Dr Jide Idris, director-general, the NCDC noted that the alert was coming at a critical time as Nigeria enters the seasonal period when cholera cases typically begin to rise.

The agency explained that recent national surveillance data already showed increasing cholera activity in multiple states, warning that flooding could rapidly worsen the situation through contamination of drinking water sources and disruption of sanitation systems.

According to the NCDC, flooding during this period may increase the risk of cholera and other diarrhoeal diseases, malaria and other mosquito-borne infections, as well as illnesses linked to contact with contaminated floodwater.

It also warned of possible injuries, including drowning and snakebites, as well as disruption of access to healthcare services in affected areas.

The agency stressed that the risks were preventable with early action, urging residents in at-risk communities to use only safe water for drinking and cooking by boiling, chlorinating or using bottled water.

It also advised regular handwashing with soap and clean water, avoiding contact with floodwater, and maintaining proper sanitation including safe disposal of waste and avoiding open defecation.

The NCDC further urged Nigerians to store and handle food safely to prevent contamination, sleep under insecticide-treated nets to reduce mosquito bites, and seek immediate medical attention if they experience diarrhoea, vomiting, fever or any symptoms of illness.

The agency said community leaders and local authorities must support sanitation activities and drainage clearance, promote hygiene practices and access to safe water, encourage early reporting of suspected illness, and ensure accurate public health information is widely shared.

On its part, the NCDC said it was working closely with State Ministries of Health and relevant partners to strengthen surveillance, enhance preparedness and support rapid response efforts in affected states.

It added that state governments were being supported to activate multisectoral response mechanisms, especially in water, sanitation and emergency management.

The agency maintained that early action, community vigilance and prompt care-seeking could prevent outbreaks and save lives.


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Building Systems that Outlive Founders

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By Bidemi Oke

There is a quiet misconception in many growing companies that vision alone is enough to sustain momentum. Founders are often the engine because they are decisive, driven and deeply involved. But what happens when the engine steps back?

That question is where real companies are separated from fragile ones. Building something that outlives a founder is not about removing their influence; rather, it is about translating that influence into systems, repeatable, observable and transferable structures that do not rely on constant presence. Without this, growth becomes personality-dependent, and scale becomes inconsistent.

At the early stage, founder-led execution works. Decisions are faster, direction is clearer, and there is less friction. But as the company grows, that same model becomes a bottleneck. Every approval, every escalation, every strategic shift begins to orbit one person. The business does not slow down because of external pressure; it slows down because its internal architecture cannot carry its own weight.

Usually, “system” is often misunderstood. It is not just about tools, dashboards or policies. It is about designing how decisions are made, how information flows and how accountability is structured. It is about making sure that the logic behind actions is visible, not assumed.

For example, a strong system answers questions before they become problems. What triggers a decision? Who owns it? What data informs it? What happens if it goes wrong?

When these are unclear, teams default to escalation. When they are clear, teams operate with autonomy.

This is where many founders hesitate. System-building feels like losing control. In reality, it is the only way to extend control without being physically present. It shifts leadership from being reactive to being embedded.

One of the most overlooked aspects of building enduring systems is Documentation.

Now, not as a formality but as a strategic asset. Decisions that are not documented become opinions. Processes that are not documented become inconsistent.

Over time, this creates invisible friction. Teams solve the same problems repeatedly but differently each time.

Documentation, when done well, becomes institutional memory. It ensures that the company remembers even when individuals move on.

Another critical layer is Feedback Loops. Systems should not be static; they must evolve with the business. This requires structured ways to capture what is working, what is failing and what needs refinement. Without feedback loops, systems become outdated. With them, systems become adaptive.

There is also a cultural dimension to it. Systems do not operate in isolation; people execute them. If the culture rewards speed over clarity, systems will be bypassed. If the culture values accountability, systems will be strengthened. The goal is alignment where systems reinforce behaviour and behaviour reinforces systems.

In fast-moving industries, this becomes even more important, take fintech, for instance. The pace of regulatory change, market volatility and user expectations demands consistency under pressure.

Companies that rely solely on founder instinct struggle to keep up, while those that invest in structured decision-making, risk management frameworks, and operational clarity are better positioned to adapt.

This is something we are increasingly seeing in companies like FlashChange, where the focus is not just on growth, but on building operational resilience. The emphasis is shifting from “who is making the decision” to “how decisions are made.” That shift, while subtle, is very powerful. It creates a foundation that can support scale without losing direction.

Ultimately, building systems that outlive founders is about redefining leadership. It is not measured by how many decisions a founder makes, but by how many decisions the organisation can make without them.

The strongest companies are not those where the founder is always present. They are the ones where the founder’s thinking is quietly embedded, shaping actions, guiding priorities and influencing outcomes, even in their absence. That is how legacies are built.

Not through constant control, but through systems that carry intent forward.

 Bidemi Oke is the Chief Executive Officer of FlashChange, a fintech platform focused on secure digital asset exchange. He is an entrepreneur and vibrant leader, recognised for driving innovation and redefining access in the financial technology industry.


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Martell’s Monumental Journey of Audacity Reaches Abuja

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After kicking off in Lagos, Martell’s nationwide campaign, Martell On The Move, has officially arrived in Abuja. The road trip features The Swift Ascendant, a monumental 14 foot art installation that is traveling across the country to connect with people through local art and nightlife.

The installation is a physical tribute to the Swift, Martell’s iconic sigil and a symbol of freedom and constant motion. This bird represents a spirit that never stands still, much like the “Standout Swift”. A Standout Swift is anyone who embodies that same drive, rising above the ordinary to redefine their own path.

The Swift Ascendant is the result of a collaboration with celebrated Nigerian artist Dotun Popoola. What makes this piece truly stand out is its soul: it was built entirely from discarded and scrap metal.

By giving new life to old materials, Popoola and Martell have created a physical reminder that reinvention is a choice. It is a nod to a more conscious kind of luxury, one that finds beauty in what has been left behind and proves that great things can be built sustainably.

The Abuja leg of the journey hit a major milestone on March 21st at Fuego Lifestyle. It wasn’t just another event on the calendar; it was a full immersion into the Martell world. Guests at Fuego experienced the brand’s energy through curated music, signature cocktails, and a vibe that matched the industrial, edgy aesthetic of the sculpture itself.

The event served as the perfect introduction for Abuja’s social scene to see exactly how Martell is blending heritage with a modern, gritty edge. “We brought The Swift Ascendant to Abuja because the city understands ambition, audacity, and what it means to push boundaries,” said Evane Chenuet, Marketing Director at Pernod Ricard Nigeria.

“Working with Dotun Popoola allowed us to create something that feels raw and real, reflecting the House of Martell’s three hundred year legacy of challenging the status quo. Seeing it at Fuego Lifestyle showed that when art and atmosphere align, the experience isn’t just visual, it becomes something people truly feel”.

The campaign is far from over. Martell is now challenging Abuja residents to keep their eyes peeled as the installation moves through the city. If you happen to come across the 14 foot metal swift during your commute or a night out, the brand wants you to be part of the story.


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