News
Procter & Gamble Partners Ministry of Industry, Others for the launch of P&G – BoI SME Academy
In a bid to enhance the capabilities of small and medium enterprises (SMEs) in Nigeria, leading consumer goods company, P&G, has partnered with the Federal Ministry of Industry, Trade and Investment, and the Bank of Industry (BoI) to launch the 2021 P&G – BoI SME Academy.
This year’s SME Academy – which aims to upskill hundreds of SMEs in Nigeria – will feature a webinar on Friday, February 12th, 2021, and an eight-module business training.
The Vice President of the Federal Republic of Nigeria, His Excellency, Professor Yemi Osinbajo, GCON, will deliver the keynote address at the program. The SME Academy webinar will also feature senior government and private sector officials including Otunba Adeniyi Adebayo – Honorable Minister of Industry, Trade, & Investment, Mr. Omar Channawi – P&G Senior Vice President for Asia, Middle East & Africa, Mr. Olukayode Pitan – Chief Executive Officer of the Bank of Industry, Mrs. Bola Adesola – Senior Vice Chairman for Africa at Standard Chartered Bank, Ms. Yewande Sadiku, the CEO of the Nigerian Investment Promotion Commission (NIPC), Mr. Muhammad M. Nami, the Chairman of the Federal Inland Revenue Service (FIRS), and Mrs. Tara Fela-Durotoye, the CEO of House of Tara amongst others.
As a force for growth and a force for good for over 28 years in Nigeria, Procter & Gamble has invested significantly in SME development, job creation and trusted, quality leadership brands for Nigerians.
Similarly, the Bank of Industry has supported the growth and expansion of thousands of SMEs in Nigeria. Through the SME Academy, both organizations will jointly train hundreds of local SMEs annually on basic business skills to improve their standards, ensure longevity and facilitate their integration into global value chains.
Speaking on the partnership, P&G Managing Director for Nigeria, Mr. Adil Farhat said, “P&G is delighted to collaborate with the Federal Ministry of Industry, Trade & Investment and the Bank of Industry to develop the capacity of SMEs and aid their integration into the global value chain.
“We are honored to support the government’s plan to create more jobs through SMEs and ensure that small scale businesses have the right skillset to grow, sustain their operations and contribute to the growth of Nigeria’s economy.”
Also commenting on the academy, the Minister for Industry, Trade and Investment, Otunba Adeniyi Adebayo said, “In line with the National Economic Sustainability Plan (NESP) of the government, it is important that skill acquisition forms the basis of SMEs operation as they contribute immensely to the economy of the country.
“As a result, we will support their growth by upskilling and creating an enabling environment which allows them to thrive. The partnership with P&G is timely and we are glad that this public private partnership will support the government’s plan to train SMEs and create more jobs.”
Remarking on the initiative, Mr. Olukayode Pitan, the Managing Director/ Chief Executive Officer of the Bank of Industry said, “BoI is committed to impacting SMEs in Nigeria and we believe that this collaboration will drive growth in the nation’s economy. The SME Academy is focused on finding a sustainable solution to unlocking the efficient performance of these enterprises through advisory and skill development.”
As part of the two-day SME Academy and webinar, Procter & Gamble and the Bank of Industry will facilitate the delivery of structured virtual business classes for SME representatives. Some of the classes include tax compliance, access to international markets, procurement principles, business ethics, and corporate governance.
Union Bank of Nigeria has secured certification under the Payment Card Industry Data Security Standard (PCI DSS) version 4.0.1, a global standard for protecting payment card data.
The certification took effect on August 11, 2026, confirming that the bank’s systems for storing, processing and transmitting customers’ credit and debit card information meet stringent international security requirements.
PCI DSS certification is designed to reduce the risk of payment card data breaches and financial fraud while strengthening customer confidence in electronic payment systems.
The assessment covered key areas of Union Bank’s operations, including network infrastructure, card issuance, ATM and POS transactions, payment processing, reconciliation, settlement, chargebacks, dispute resolution and retail banking.
Union Bank was assessed and certified under the Service Provider category.
The certification process lasted a full year and involved quarterly assessments, with support from departmental, business and functional heads across the bank. Digital security firm Digital Encode supported the process, while the final independent audit was conducted by CyberCube, an accredited Qualified Security Assessor.
Yetunde B. Oni, Managing Director and Chief Executive Officer of Union Bank, said the certification demonstrates the bank’s commitment to protecting customer information.
“The security of our customers’ information is central to everything we do at Union Bank. This certification reaffirms that our payment systems and processes meet a rigorous global standard, and it reflects the discipline of colleagues across the Bank who work every day to keep customer data safe.”
The renewal also ensures that Union Bank maintains continuous PCI DSS certification, in line with the Central Bank of Nigeria’s requirement for banks to sustain compliance without interruption.
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.
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.
FG Seeks to Half Burkina Faso’s Internet Cost while Nigerians Pay more
Cyberthreat: New Malware, Turns Phones into Tools for Card Fraud- Report
SEC Clears Blockchain for Accelerated Regulatory Incubation Programme
Union Bank Secures Global Payment Data Security Certification
NLNG, NCDMB Boost Engineering Research with Innovation Centre
EFCC Busts NIS Visa Overstay Racket, Uncovers N700m in an Account
Fact-Check: Elon Musk’s “Tesla Pi Phone” is Internet Rumor
NBC Tasks Broadcasting Stations over 2028 DSO Global Deadline
Glo Sponsored African Voices to Feature Netflix’s “The Polygamist” Stars
Access Bank Debunks Shutdown Report, Vows Action against Perpetrators
Telecom2 days agoAirtel Nigeria Adds Over 1,000Cell Sites in Nationwide Expansion to Surpasses 17,000
E-Financial2 days agoMastercard, TeamApt Collaborate to Expand Digital Payments Across Africa
E-Business2 days agoMacOS Users Report More Cyber Threats than Windows Users – Survey Reveals
News2 days agoAccess Holdings Sets New Benchmark in Nigeria’s Finance Talent Pipeline
Telecom2 days agoNigerian Startup Act: NITDA Calls for Stronger Inter-Agency Collaboration
E-Financial2 days agoSEC Orders Immediate Freeze of Assets Linked to Six Terrorism Financiers, Three Entities
General News2 days agoAnambra Seeks Digital Inclusion in Rural Communities
Broadcasting2 days agoESUT Workers Get N82,000 Minimum Wage as Enugu Approves Fresh Salary Increase