General News
Red Star Posts N6.6Bn Turnover, Gets New Management

Red Star Express Plc, a leading logistics Company, has announced a total sum of N6.6 billion turnover for the financial year ended March 31, 2016 and a profit after tax of N334.4 million. This was stated at the 23rdAnnual General Meeting (AGM) of the company held recently.
Speaking at the AGM, Dr. Mohammed Koguna, the chairman, noted that in spite of the challenges of decline in oil prices, immense pressure on the Naira, rising inflation, volatility and uncertainty in the foreign exchange market, regular flight cancellations and upsurge in general cost of living, the staff and management worked assiduously to ensure that the company achieved a satisfactory result.
“In spite of the challenges outlined, our company posted a turnover of N6.6 billion in the year under review. Our company has maintained its commitment in the creation of wealth for shareholders. To this end, the Board of Directors is recommending a gross cash dividend of 35kobo for every 50 kobo share translating to N206.3million. We demonstrated our commitment during the financial year to the Red Star Foundation policy by awarding 20 additional scholarship to secondary school students from the Eastern, Western and Northern part of Nigeria”, he reiterated.
With a view to optimizing emerging opportunities in the domestic and international business environment, there have also been changes in the company’s management structure. Mr Olumuyiwa Olumekun, former executive director and Mr Sule Umar Bichi, group managing director/CEO, both had their contracts expired on August 31st 2015.
After one year of extension for Mr Bichi to facilitate smooth transition to new leadership for the company, the company made new appointments which took effect from April 1, 2016.
The Board appointed three (3) Executive Directors, and four (4) Divisional Managing Directors. Mr Sola Obabori assumed the position of the Deputy Managing Director (and will take over from the outgoing Group Managing Director from September 1), Mr Victor Ukwat assumed the position of Executive Director Sales and Marketing while Mr Auwalu Babura assumed the position of Executive Director Finance and Admin.
Other appointments were Mr Charles Ejekam who became the Divisional Managing Director of Red Star Express, Mr Ocholi Etu became the Divisional Managing Director of Red Star Logistics, Mr Enoma Ojo assumed the position of Divisional Managing Director Red Star Support Services and Mr Tonye Preghafi assumed the position of the Divisional Managing Director of Red Star Freight.
Sir Sunny Nwosu, representing Obuchi Limited in his statement, commended the outgoing management for building a positive financial statement which the incoming management should take note of. In his words “To whom much is given, much is expected”.
Speaking on these appointments, Dr. Koguna thanked the outgoing staff for their contributions towards the growth and success of the company, while also wishing the new management the best in their performance in the years ahead.
On future outlook, he pointed out that the Company is committed to ensuring sustained and steady growth of its operations and returns on investments. “Regardless of the volatile economy, we will continually invest in our resilient employees, optimize our processes, refine our strategies, engage in cost efficiency, focus on new initiatives and increase our market share across the emerging economic sectors. We believe our commitment will give us the thrust we need to achieve maximum benefits for our esteemed shareholders”, he added.
Red Star Express Plc has four subsidiaries – Red Star Freight Limited; Red Star Logistics Limited and Red Star Support Services Limited, as well as Red Star Express, a licensee of FedEx, world leading air express company with over 650 aircrafts and more than 270 delivery destinations globally.
FedEx has consistently been rated among the top 10 most admired companies in the world over the past 10 years.
General News
MasterCard Predicts Africa’s AI Market to Soar to $16.5Bn by 2030

A new MasterCard report has predicted that Africa’s AI economy will more than triple in five years, reaching $16.5 billion by 2030 from $4.5 billion in 2025.
The whitepaper by the global payments technology company, with a presence in over 50 African countries, identifies responsible adoption, stronger data infrastructure, and aggressive skills development as the three pillars that will determine who benefits.
Mark Elliott, division president for Africa at MasterCard, emphasised that Africa stands at an inflection point, where smart technologies have the potential to make a real difference in people’s lives.
He likened AI’s potential to the continent’s leap into mobile money, which bypassed traditional banking infrastructure and brought millions into the financial system.
“Digital innovation, particularly AI, can drive real change on the ground by empowering communities and building a future where everyone participates in the new economy,” Elliott said.
The in-depth study flags several African frontrunners in AI adoption. South Africa tops the list, blending advanced infrastructure with strong research capabilities. It points out that Kenya is making strides with practical AI solutions, from credit scoring to healthcare services in local languages.
Nigeria’s vibrant start-up scene also gets a strong mention for attracting significant venture capital, while Morocco’s strong push in healthcare, agriculture, and energy, underpinned by bold national digital strategies, is another key driver.
Elliott stressed that success depends on powering electricity access, digitisation, and ensuring AI is fuelled by diverse, high-quality local data.
He added that inclusive transformation needs everyone involved, from small businesses to large corporations, policymakers, and communities. “The only good AI is responsible AI,” said Elliot.
Greg Ulrich, MasterCard’s chief AI and data officer, said Africa’s relationship with technology is one of active innovation, pointing to mobile payments as a homegrown success.
“AI is accelerating this transformation, reshaping how people live, work, and connect,” he said. Ulrich described MasterCard’s fraud detection systems, trained in cities like Lagos, Nairobi, and Johannesburg, as proof that global expertise and local talent can combine to deliver secure, real-time services.
He also cautioned that with scale comes responsibility. “Trust is earned, one transaction at a time,” Ulrich said.
He believes that with one of the world’s youngest populations, Africa’s next challenge is turning strategy into delivery, building infrastructure, nurturing talent, and ensuring AI lifts all communities.
General News
Huawei Hosts MTN MIP Fellows for Immersive Tech Experience in Lagos

The fellows of MTN Media Innovation Programme (MIP) Cohort 4 recently embarked on an immersive tour of Huawei’s Innovation Center, Cloud Service Centre, and Network Support Centre in Lagos, as part of their ongoing industry exposure sessions.

L-R: Isaac Ogugua-Ezechukwu, Programs Administrator, Professional Education, School of Media and Communications, Pan-Atlantic University; Blessings Mosugu, Vice President, MTN Media Innovation Programme Cohort 4; Gavin Geng Xiaoyan, Director of Solution Sales\Chief Technical Officer, Huawei; Vanessa Ukamaka Richard, Secretary, MTN MIP Cohort 4 and Dr Chike Mgbeadichie, Programs Director, Professional Education, School of Media and Communications, Pan-Atlantic University, during the July session of the MTN Media Innovation Program held at the Huawei office in Victoria Island, recently.
At the Huawei Innovation Center, the fellows were introduced to a wide array of next-generation technologies. Demonstrations covered Huawei’s smart city solutions, advanced power technologies, cloud systems, and upgraded router and antenna designs. These solutions represent the core of Huawei’s contributions as a strategic partner in MTN’s journey from a connectivity provider to a digital enabler.
One of the highlights of the tour was a live demo of an AI-powered video generator, which transformed selfies into high-definition 30-second avatar-based videos. The videos, created and delivered within seconds via Bluetooth, showcased the real-time capabilities of 5G.
Speaking on how 5G is transforming digital lifestyle globally, the Deputy Managing Director, Marketing and Solutions at Huawei Nigeria, Gavin Geng, noted that “Huawei’s goal is to bridge the gap between global innovation and local demand by tailoring technology to meet Nigeria’s specific challenges. From delivering Nigeria’s first digital village alongside our partners, to launching Nigeria’s first local cloud service, we are committed to working with our customers to build infrastructure that serve both urban and underserved communities.”
He emphasised Huawei’s commitment to security and cutting-edge innovation, adding that “as an employee-owned company adhering to strict global security standards, we ensure that customers’ data and connectivity remain secure while they benefit from next-gen solutions such as 5G, AI, smart city technologies.”
The session underscored MTN’s readiness to meet the increasing demands of Nigeria’s data-driven population and support the country’s digital transformation goals.
Afterwards, the fellows received certificates to commemorate the visit and proceeded to the Huawei Service Centre. Spanning 4,000 square metres, the facility supports operations in telecoms, finance, transportation, power, and public service.
With a dedicated DevOps team, the centre customises its monitoring systems for different clients. It is ISO27001 certified, and all employees hold security certifications, reflecting its emphasis on data protection and operational excellence.
To wrap up the day, the MIP cohort was hosted to a dinner attended by MTN’s Chief Services and Sustainability Officer, Tobechukwu Okigbo. He encouraged the delegates to maximise the opportunity the programme offers and shared personal insights during an experience-sharing moment.
General News
NIMC Sets 48-hour Deadline for Diaspora Partners to Activate New Licences

The National Identity Management Commission (NIMC) has given its Diaspora Front-End Partners (FEPs) 48 hours to obtain and activate their National Identification Number (NIN) enrolment licences on its newly upgraded diaspora enrolment platform.
The commission said the deadline followed the successful completion of a major upgrade aimed at improving the security, efficiency and reliability of NIN registration for Nigerians living abroad.
According to NIMC, the upgraded platform will offer a more seamless and robust service to diaspora applicants, ensuring faster processing and better data protection. To prepare for the transition, all FEPs have been onboarded onto the new system and taken through intensive training to equip them with the knowledge needed for effective management of the platform.
Once compliant partners activate their licences, Nigerians abroad will be able to access NIN enrolment services through them without disruption.
“The Commission apologises for any inconvenience the upgrade process might have caused and has set up a dedicated service team to resolve all issues related to diaspora enrolment,” NIMC said in a statement signed by Dr. Kayode Adegoke, its head of corporate communications.
Diaspora applicants experiencing difficulties have been advised to contact the commission for prompt assistance.
While the new system rolls out overseas, NIN enrolment continues across all centres in Nigeria, with applicants able to locate their nearest centres on the NIMC website. Nigerians at home or abroad can also modify their NIN data via the online self-service portal.
NIMC further encouraged NIN holders to download the NIMC NINAuth App on iOS or Google Play to instantly verify their NIN, control who can access their information, and enjoy secure authentication services.
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