General News
Portfolio Courier Firms Fingered in Arms Smuggling
Illegal courier operators are aiding the ever increasing trend in the smuggling of small arms and light weapons, exposing the dangerous complexity of the illicit trade of the tools of violence in parts of the country, Nigeria CommunicationsWeek can now reveal.
There are an estimated 10 million illicit small arms and light weapons in circulation in West Africa with about 3 million of them in Nigeria alone.
Small arms are classified as hand guns, pistols, sub-machine guns, mortars, landmines, grenades and light missiles.
Also, Europol Report, has warned that the use of courier service as a legitimate business structure for drug trafficking is one of the specialized areas utilized by organized criminal groups around the world today.
Dr. Simon Emeje, senior assistant postmaster general and head of the Courier Regulatory Department (CRD) of Nigeria Postal Service (Nipost) said that some of the crimes perpetuated in Nigeria are consequences of some compromised individuals.
Speaking on the sidelines after sealing an office belonging to a transport company found to be conducting courier business without registration, Emeje added, “What we did today, the company involved is a transport company; people go to them in their garage, give them parcels and they take the parcels to certain destinations for a fee. It is illegal. We are saying that if a company is not licensed and they forcefully and illegally go into what others licensed are supposed to do, they are defaulting.
“Even security wise, we are talking about-gun, ammunitions smuggling, call it anything, unregistered courier companies can do anything, because nobody queries them. They are not on our list and they fashion out different crooked measure to perpetuate such illicit business. That is what we are fighting”
He said: “Such companies are loose ones that people can easily liaise with to do anything with, both at international and national fronts. From our borders, these people bring goods from foreign countries”.
CRD, an arm of Nipost is the apex regulatory body of the courier industry in the country. Nipost is also an operator in the industry.
But the Association of Nigerian Courier Operators (ANCO) said that the lax regulation of the sector lends the industry to abuses.
Toyin Olufade, president of ANCO in an earlier chat with Nigeria CommunicationsWeek admitted that one of the greatest challenges facing the postal industry is illegal courier operators.
He urged the government to set up an independent regulatory body for the sector adding that Nigeria is losing some $6 million annually because of the seemingly unorganized nature of the business.
Emeje said that his CRD has made a lot of progress despite its limited roles.
“We have carried out several sensitization programmes, even engaged on visitations, written to several of them, but they would not comply. They do not want to be regulated. We have records of culprits that have pleaded for leniency and later registered. Our aim is not to kill businesses, but to ensure the industry and the nation at large is protected,” the CRD boss said.
“In January this year, CRD released two categories of courier licences comprising National and International operators. We have looked into the turnover of the companies and know what they make. So, the licenses or the renewal fees are not the problem for them refusing to register. Some may just decide not to register thinking they can avoid the wraths of the law.
Describing the decision of some companies not register as “economic sabotage” Emeje said that “unlicensed operators are worth an average of N20 billion. These companies are doing businesses. You can imagine if we are to realize like N10 billion from them and now they are operating from the back door, automatically Nigeria is losing. The worth of the unlicensed companies is from the income of Nigeria”
“From our borders, these people bring goods from foreign countries. They are capable of freighting anything into the country. And since they are not licensed and they operate from the back-door that is why we call them portfolio operators. They are dangerous to the Nigeria’s economy. That is why we are working seriously to track them door and make sure the companies and their excesses are curbed”. He added.
He called on unregistered corporate bodies that undertake delivery of items for a fee or commission, which are considered to be illegal courier service to register such or contract the delivery to recognized (permitted) companies.
Federal government has launched Credit for Laptops, Internet, Connectivity and Knowledge Digital Devices (C.L.I.C.K.D.), a new consumer credit initiative, to provide affordable financing for locally assembled laptops and other digital devices.
L-R: Mr Uzoma Nwagba, managing director and chief executive officer, CREDICORP, and Dr Bosun Tijani, minister of Communications, Innovation and Digital Economy, at the launch
The initiative by the Nigerian Consumer Credit Corporation (CREDICORP) and the Federal Ministry of Communications, Innovation and Digital Economy, is aimed at equipping Nigerians with the tools needed to participate in the country’s growing digital economy.
During the launch, Dr Bosun Tijani, minister of Communications, Innovation and Digital Economy, described access to credit as critical to improving productivity and driving economic growth.
Dr Tijani said no nation could achieve sustainable development without a strong credit system that enables individuals and businesses to access resources needed to become more productive.
He noted that in today’s digital age, technology has become indispensable for education, innovation and wealth creation.
The minister explained that many talented young Nigerians possess the skills required to succeed in the digital economy but remain constrained by their inability to own computers and other digital tools.
Drawing from his personal experience, Dr Tijani recalled how his first laptop as a student in the university opened doors to international opportunities and eventually inspired him to establish one of Nigeria’s pioneering technology hubs.
He said the new programme would ensure that more young Nigerians are not denied similar opportunities because of financial barriers.
According to him, the initiative aligns with President Bola Tinubu’s vision of building a one-trillion-dollar economy by expanding access to technology, boosting productivity and supporting local manufacturing.
Mr Uzoma Nwagba, managing director and chief executive officer, CREDICORP, described the programme as a strategic investment in Nigeria’s future workforce and digital transformation.
Mr Nwagba said that while improvements in internet connectivity and digital skills training have positioned Nigeria for the Fourth Industrial Revolution, access to devices remains a major challenge preventing many young people from fully participating in the digital economy.
He explained that C.L.I.C.K.D. would bridge that gap by providing affordable consumer credit that enables beneficiaries to acquire laptops and other internet-enabled devices while they develop in-demand digital skills
Federal Government has announced the disbursement of about N333 billion to eight electricity generation companies (GenCos) as part of measures to resolve outstanding debts in the power sector.
The government also disclosed the issuance of a second bond valued at N729 billion to settle verified legacy obligations and improve liquidity within the Nigerian Electricity Supply Industry (NESI).
The disclosures were made on Tuesday at an investors’ forum organised by the Nigerian Bulk Electricity Trading (NBET) Plc in Abuja.
Government representatives said the latest bond issuance marked the completion of the initial phase of the Presidential Power Sector Debt Reduction Programme, which was designed to address verified liabilities and attract private sector investment across the electricity value chain.
The Special Adviser to the President on Energy, Mrs Olu Verheijen, said the implementation of the first series of the programme demonstrated the administration’s commitment to meeting its financial obligations and improving investor confidence.
Verheijen disclosed that the Federal Government in February 2026 allocated about N501 billion under the first tranche of the programme, comprising N300 billion in cash and N201 billion in non-cash bond instruments to offset verified debts owed to power producers.
She said N333 billion had so far been disbursed to eight participating GenCos operating 17 power plants.
According to her, the government also paid the first coupon of about N63.5 billion on the seven-year bond in full on July 14, 2026.
She explained that the payments had enabled generation companies to meet critical obligations to gas suppliers, lenders and operations and maintenance contractors, thereby improving their operational capacity.
“Markets do not reward promises; they reward performance. Capital follows credibility,” Verheijen said.
She added that the second bond series would further strengthen liquidity in the electricity market and create a more stable financial environment capable of attracting long-term private investment.
The Presidential Power Sector Debt Reduction Programme is part of broader Federal Government efforts to address challenges affecting electricity generation, distribution and investment in Nigeria’s power sector.
Federal government has launched a N482.4 million investment fund to support 12 tech-enabled Nigerian startups.
The initiative under the federal government of Nigeria’s Investment in Digital and Creative Enterprises (iDICE) Programme was implemented by the Bank of Industry (BoI).
The initiative in a statement said applications have been opened for Growth Lab, a 12-week acceleration programme that will select the 12 tech-enabled Nigerian startups, from the six geopolitical zones, for intensive growth support, investment readiness training, and access to up to $350,000 in funding.
According to Ife Adebayo, national coordinator of the Programme, growth lab was designed to support startups that have achieved early traction and are seeking the expertise, networks, and investment required to scale following the implementation of Founders Lab.
“Growth Lab is the Startup Bridge accelerator programme, designed for startups that have developed an MVP and require structured support to scale. The programme focuses on strengthening venture fundamentals and preparing companies for external investment.
“The programme targets startup founders who are seeking the support, networks, expertise, and investment readiness required to accelerate growth and strengthen their position within the Nigerian innovation ecosystem,” he said.
He added that selected founders will gain access to structured growth support, investment readiness preparation, access to industry experts, market expansion pathways, a $100,000 cash investment (or Naira equivalent) for 7.5% equity upon entering the programme (terms and conditions apply), and up to $250,000 in potential follow-on investment should certain growth conditions be met.
“Eligible startups must be at the post-MVP stage, demonstrate evidence of market validation through users, customers, pilots, partnerships, waitlists or any other demand signals, and be willing to participate fully in the hybrid programme,” he said.
The programme will run as an intensive 12-week hybrid experience, including virtual engagements and two physical weeks in Lagos focused on collaboration, learning, and business growth.
The statement said applications opened on July 15, 2026, and will close on August 19, 2026.
According to him, female founders are strongly encouraged to apply. Selection will be conducted through a clearly defined, merit-based evaluation process aligned with published criteria.
iDICE is a $618 million federal government initiative backed by international lenders to boost the technology and creative sectors.
It provides young entrepreneurs with business skills training, mentorship, and access to capital through funds and accelerator programs like the iDICE Startup Bridge.
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