General News
Stakeholders @ Bulkpost Forum Rue Dividend Warrants Conversion

Stakeholders at the Customers’ Forum organized by the Bulkpost venture, an outfit of the Nigeria Postal Service (NIPOST) have frowned at unethical practices in the industry, especially the emergence of conversion of dividend warrants.
Mallam Ibrahim Mori Baba, post-master general of the Federation (NIPOST) said that theme of the Forum: “Nipping in the Bud the Re-Emergence of Conversion of Dividend Warrants: The Role of the Bank,” demonstrated the aspiration of the Service to eliminate most of the hideous activities which make effective delivery of capital market mail very difficult, if not impossible.
“Our concern stems from the realization of that gone are the days when some government agencies rely upon monopoly to hide their inefficiency and poor performances,” he said.
He added the imperative is also culled from believe that competition has become a key characteristic in the global economy and that postal services operate within the global communication marketplace that is growing more competitive and diverse.
Bayo Olugbemi, managing director and chief executive officer, First Registrars and chairman of the occasion, identified that fraudulent practices in the financial industry has permeated other sectors like the postal and courier because they are important stakeholders, hence the need to nip in the bud the trajectory of the incidences.
He also called on the courier operators and the banks to embrace integrity and curb all miscellaneous fraud practices like manipulation of customers’ salary scheme, fraudulent liquidation o f customer’s investment, dry posting into staff account, and conversion of dividend warrants as well as the late delivery of services.
He added that NIPOST and the courier firms should hurriedly carry out “Know Your Customer” (KYC) report to update their delivery addressing systems.
Speaking on the theme, Mr. Paul Eluhaiwe, director, Development Finance Department, Central Bank of Nigeria (CBN), defined dividend as, “A payment made by a corporation to its shareholders, usually as a distribution of profits”. Therefore, it remains one of the key factors that drive market activities and aid investment decisions.
He said that despite the significance of dividends to investors, the stock of unclaimed dividends from the nation’s bourse reached N60bn in 2012 from N42bn in 2011; hence the knowledge of the magnitude of unclaimed dividends is one of the factors that caused the re-emergence of illegal conversion of dividend warrants.
Meanwhile, according to the Financial Institutions Training Centre (FITC) released report on frauds and forgeries in the Nigerian banking industry between July and September 2012, it received 59 returns from 22 deposit money banks in the 3rd Quarter of 2012. Of these, 20 were received for the month of July, 18 for August, and 21 for September.
“Analysis of these returns indicates that the banking industry reported a total of 1,501 cases of frauds and forgeries in the period under review from 1,103 cases reported in the preceding period,” he added.
Also speaking, Adeola Odetunde, presenting a paper on behalf of Mr. Ibrahim Lamorde, chairman of the Economic and Financial Crimes Commission (EFCC) reminded the attendees that a fair suit towards the fight of fraudulent conversion of dividend warrants, calls for strong institutional framework and integrity of staff.
According to him, the registrars have enormous responsibility to ensure that information relating to various stakeholders in their database are not leaked to fraudsters.
“Investigation into some reported cases of fraudulent conversion of dividend warrants has shown that, sometimes, the fraud was made possible because of compromise of stakeholder information in the database of the Registrar,” the EFCC chieftain said.
He added that market operators, banks, post offices and other critical stakeholders should be weary of the trends of the crime, impersonation and forgery and should aid the EFCC in trying culprits.
On his part, Dr. Mike Umo, general manager, Bulkpost Venture, and the Organizers of the Forum said that the Forum was conveyed for stakeholders to share their thoughts and suggestions on how to tackle to issue and other unwanted obstacles that have made business processes unsecured and unhealthy for the practitioners.
“It is a way to show that we care about the happenings in the industry. Nipping in the Bud the Re-Emergence of Fraudulent Convention of Dividend Warrant: the Role of the Bank, is a topic borne out of our desire to address some to the challenges we are having in the field. For instance, the Convention on Dividend Warrant (CDW) has been there; at a time, it was removed, all of a sudden the Convention reemerged. So we have been having challenges with different Registrars writing to us that a lot of customers are complaining they did not see their dividend warrant.
“In BulkPost we do not deliver mails. We only collect, flank and distribute them to Central Mail Processing Centers (CMPC). That is where our duties end. Whatever happens from that point we do not know. So when people started complaining we felt it is important we bring the topical issue to bear,” he explained.
General News
NigComSat-1R, Nigeria’s Only Satellite to Expire this Year

NigComSat-1R, a Nigerian geostationary communications satellite will outlive its usefulness this year, meaning that the satellite will expire anytime now.

NigComSat-1R was launched by China Great Wall Industry Corporation (CGWIC) for Nigeria on December 19, 2011, as a replacement for the failed NigComSat-1.
NigComSat-1 which was put in the orbit in May 2007, was de-orbited in November 2008 following the development of power fault.
It was replaced with NigComSat-1R by the same company and has a lifespan of 15 years.
Positioned at 42.5°E, it provides C, Ku, Ka, and L-band services across Africa, Europe, and parts of Asia for broadcasting and internet.
Should the satellite fail, support for television broadcasting, internet connectivity, and secure communications for government and private sectors, may be affected.
The satellite is currently been controlled from China since 2019 following technical issues with the Abuja control station.
NigComSat-1R is currently the only active communications satellite managed by NIGCOMSAT Limited, though it operates alongside other Nigerian observation satellites.
General News
Banks, Offices to Close for Thursday and Friday for Eid-el-Fitr

Federal government has declared Thursday, March 19, and Friday, March 20, as public holidays to mark this year’s Eid-ul-Fitr celebration.

Consequently, banks, schools and offices nationwide will be shut for the two days.
The declaration was made by Olubunmi Tunji-Ojo, minister of Interior, on behalf of the government, according to a statement issued on Tuesday, by Magdalene Ajani, permanent secretary of the ministry.
Eid-el-Fitr, meaning ‘festival of breaking the fast,’ is one of the most important feasts in Islam.
The festival marks the end of Ramadan, a sacred month of fasting, prayer, and spiritual reflection observed by Muslims worldwide.
During Ramadan, Muslims fast from dawn to sunset, abstaining from food, drink, and other physical needs as an act of devotion to Allah.
Eid-el-Fitr is a time of joy and gratitude, beginning with a special congregational prayer at mosques and open prayer grounds.
It is also marked by feasting, gift-giving, and charitable acts, particularly the giving of Zakat al-Fitr, a mandatory charity given to the less privileged before the Eid prayer.
Congratulating Muslim faithful on the successful completion of Ramadan, Tunji-Ojo urged them to sustain the virtues of love, generosity, peace, tolerance, and sacrifice imbibed during the period.
He also called on Nigerians to use the festive season to pray for the peace, unity, and continued development of the country.
The minister further encouraged citizens to celebrate responsibly and extend acts of kindness to the less privileged, in line with the spirit of the season.
He reiterated the Federal Government’s commitment to promoting national unity and peaceful coexistence among all Nigerians.
General News
New Horizons Nigeria Expands Digital Access with New Retail Centre in Akute

Residents of Akute and surrounding communities now have direct access to world-class technology training following the launch of a new retail center by New Horizons Nigeria.

Mr. Tim Akano
The newly commissioned center, strategically located in Akute, is expected to serve learners and professionals across Alagbado, Ajuwon, Matogun, Lambe, Ojodu-Berger, Isheri, Giwa, Iju-Ishaga, Ishasi, and Oke-Aro.
This initiative has brought internationally recognized ICT training closer to thousands of young people and working adults. For years, distance and accessibility have limited many aspiring tech professionals from enrolling in structured, global-standard programs. With this expansion, residents no longer need to travel long distances to acquire in-demand digital skills.
New Horizons Nigeria, widely recognized as Africa’s largest ICT training organization, continues to strengthen its footprint in Nigeria’s digital education sector.
In 2025, the institution received the prestigious Best ICT Training Company award from CompTIA in South Africa. This further reinforce its leadership position within the continent’s technology training ecosystem.
As a franchise of New Horizons International, which operates in over 90 countries across six continents, the organization has consistently aligned with global best practices while addressing local capacity gaps.
The organization currently provides ICT training services to more than 30 universities and nearly 200 high schools nationwide.
The center would be used for the training of high-end technical courses like Cyber Security, Web Development, Artificial intelligence, Full Stack, Graphics and CompTIA courses like Hardware, Network and Security Plus.
New Horizons trains over 100,000 students yearly across 27 universities and 150 secondary schools, as well as corporate organizations, government agencies and retail offices.
Students trained by New Horizons Nigeria are always well-sought after in the labour market after graduation and the certificate they obtain are recognized in all the 90 countries where New Horizons have offices.
Speaking on the broader vision behind the expansion, the Founder and Chief Executive Officer, Mr. Tim Akano, emphasized that the future of the nation’s economy depends largely on accessible and practical tech education.
He noted that in today’s digital economy, virtually 100 percent of jobs require some level of IT skill, regardless of one’s field of study. From finance and healthcare to agriculture, media, engineering and public administration, technology now drives productivity and competitiveness.
He further stated that IT has evolved from being a specialized field to becoming a foundational requirement for career growth and wealth creation. Acquiring digital skills, he stressed, remains one of the most strategic pathways to higher earning potential and long-term financial stability.
Furthermore, he stated that young Nigerians considering relocation abroad need to prioritize acquiring IT skills before traveling.
He asserted that obtaining internationally relevant technology training outside Nigeria is significantly more expensive than enrolling locally.
By gaining these skills locally, individuals position themselves for better opportunities overseas. Rather than struggling to survive in low-paying or unrelated jobs, they can compete as skilled professionals in global labour markets.
Also, holding a globally recognized certifications from New Horizons Nigeria gives candidates a competitive edge, and enhances their credibility and employability abroad.
As of January 2026, New Horizons Nigeria and its CEO have collectively received over 320 national, continental, and international awards, making them one of the most decorated institutions and individuals in Nigeria’s technology, entrepreneurship, and youth empowerment space.
The launch of the Akute retail center signals more than physical expansion; it represents a deliberate effort to democratize access to technology education at the grassroots level. With increasing demand for skills in cybersecurity, cloud computing, artificial intelligence, software development, and digital business solutions, the new center is positioned to become a hub for digital transformation within Ogun State and its border communities.
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