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The Journey to Establishment of a Postal Service Commission

Published

17 years ago

June 1, 2009

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As the postal industry is expecting the agencies of government that have one thing or the other to do with the postal bill to quicken action for the National Assembly to ratify the bill that will give legal backing to the Postal Service Commission, there has been agitation for the independent postal regulatory body by the courier companies in Nigeria and action taken so far by the government towards realizing this noble objective.
In May 2004, during the 2nd Nigerian Courier summit initiated and organized by the Courier Regulatory Department of Nipost under the leadership of Dr. Simon Emeje, the agitation for an independent regulatory body came to a limelight. The summit was well attended by the Honourable Minister of Communications, representatives of the National Assembly, courier operators, relevant federal government agencies and other stakeholders. This agitation was brought by courier operators based on the present postal situation in the country which entrusts the regulatory responsibility to be handled by a department Courier Regulatory Department via Decree 41 of 1992. It is argued that this legislation is highly limited in powers and has not allowed the department to regulate adequately though it has done tremendously well within the limited powers and resources at its disposal towards sanitizing the industry.
By entrusting Nipost with the regulatory role, an agency that is playing the dual role of a regulator and operator the same time. This has been condemned roundly by private courier operators and even by Nipost management as being a hindrance to effective control of the post. Stakeholders also argue that the practice is no longer fashionable in other parts of the world and that Nigeria should not be an exception. The practice is said to be working against the regulations and conventions of the Universal Postal Union, an agency of the United Nations in charge of postal matters
As a result of the dual role Nipost is saddled with, it has not been able to operate and realize enough revenue for self-sustenance in spite of the efforts of Nipost management to up tick the organization to a profitable venture. In addition the present arrangement has hampered the definition and adequate provision of universal service. The rural sector is not adequately covered in the Universal Service Provision which Nipost owe as its exclusive duty to provide being the national carrier.
In the face of the complaints and advantages the sector stands to benefit by carving out an independent body to regulate the postal and courier sector, it is therefore imperative that action be facilitated for this all important legislation. It has been argued that following the liberalization policy of the federal government which subsequently opened up the postal market to private entrepreneurs, establishing the commission is the only way the government can exercise control over the postal industry as practiced worldwide. Apart from the commission being the agency that will create a level playing business environment for postal operators on behalf of the federal government, it will facilitate, promote and ensure the implementation of the Universal Service Obligation (USO) of the government as recommended by the Universal Postal Union. The Universal service obligation is the effort of the government to make postal service available to all citizens at all locations in Nigeria.
The commission will sanitize the postal industry by licensing and monitoring the postal operators including Nipost. Before now, the postal industry had been noted for pilfering, dumping and loss of mails with a lot of unlicensed operators occupying some space in the industry. The Courier Regulatory Department within its resources and strength has tried to sanitize the sub-sector but there is need for greater empowerment for the Department to be able to take far-reaching measures in regulating the industry.
Stakeholders have advanced the argument that establishing the commission will give a better definition of responsibility to Nipost especially as a designated public postal operator that will provide the universal service and that in then circumstance it enable Nipost to make more revenue and become self-sustaining as more revenue will be realized from the reserved area which is the traditional jurisdiction of Nipost.
Operators have also said that to keep pace with international best practice, establishing the commission is a necessity arguing that Nigeria is one of the few countries in Africa and in fact the rest of the world that has no independent postal regulatory body. Such countries liker Ghana, Tanzania, South Africa, Togo, India Britain,USA among others , they argued are all enjoying established independent postal regulatory commissions
Since the commission will concentrate in regulating the sector, it will ensure more monitoring and enforcement of its laws. This will bring more life and fervor into the sector and its activities will contribute to the economic wellbeing and development of Nigeria considering the fact that the post is a major segment of the communication industry and communication being a vital instrument for economic development.
It would be recalled that consequent upon the agitation to establish an independent postal commission necessitated by the present postal situation, a ministerial committee was inaugurated by Chief Cornelius Adebayo, then Minister for Communications in 2005 to draft the National Postal Policy and the Nigerian Postal Service bill which were to be eventually submitted to the Federal Executive Council and the National Assembly respectively. The process was truncated by the deployment of Cornelius Adebayo from the communications ministry coupled with the tragic end in a plane crash of the enabler of the New Nipost order, Abubarka Argungu in October 2005. The stakeholders’ forum, which was slated to hold the same month, was therefore postponed sine die as a result of the developments.
When the new Minister of Communications, Chief Anibaba took over from Adebayo, time left for him to tidy up the documents for submission to the Federal Executive Council was too short as the Obasanjo-led administration was running out of time.
However in April 2008, the stakeholders’ forum was held. The Nethpost consultants from The Netherlands who signed a contract on postal reform with the federal government through the Bureau of Public Enterprises fine-tuned the documents and finally submitted to BPE for onward transmission to John Ogar Odey, then Minister of Information and Communications.
Around the middle of the year 2008, these documents, National Postal Policy and Postal Bill were presented to the Senate Committee on Communications under the chairmanship of Sylvester Anyanwu in a meeting of the Senate Committee with Nipost, BPE and the executives of the Senior Staff Association (Postal branch).Then it was agreed that BPE should put finishing touches to the documents before the final submission to the honorable minister of Information and Communications who will then submit to the Federal Executive Council and the National Assembly .
Towards the last quarter of 2008 Nigeria CommunicationsWeek gathered that these documents were submitted to the National Council on Privatization (NCP) headed by the vice president. It was gathered also that NCP approved the documents in the NCP meeting that then Minister of Information and Communications, John Odey was in attendance. Based on this approval, the next line of action would have been for the documents to be submitted to the Federal Executive Council through the minister of Information and Communications who until he left office said the documents were not submitted to him by the BPE. Nigeria CommunicationsWeek investigations from Chigbo Anichebe, Head Public Affairs, confirmed BPE was in custody of the documents but revealed that private courier operators were being awaited as at three months ago to make the final input into the documents which BPE said was causing the delay but Toyin Olufade, president, Association of Nigeria Courier Operators (Anco) said some of his members had vetted the documents and sent back to BPE for it to commence further action.

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E-Financial

CBN Revokes Licenses of Two Mortgage Banks, NDIC Begins Liquidation

Published

2 seconds ago

December 17, 2025

Chike Onwuegbuchi

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Nigeria’s banking regulators have moved to shut down two mortgage lenders after prolonged financial distress, as authorities intensify efforts to enforce capital discipline and restore confidence in the country’s housing finance system.

The Central Bank of Nigeria (CBN) has withdrew the operating licenses of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, setting in motion a liquidation process that will see insured depositors paid by the Nigeria Deposit Insurance Corporation (NDIC).

The revocation marks a decisive intervention by the central bank, which said the lenders repeatedly failed to meet regulatory standards despite supervisory actions.

In a statement signed by Hakama Sidi Ali, acting director of corporate communications, the CBN said the decision was taken under the Banks and Other Financial Institutions Act, BOFIA 2020, and the revised guidelines for mortgage banks, as it seeks to re-position the sub-sector and entrench compliance.

“As part of its efforts to re-position the mortgage sub-sector and promote a culture of compliance with relevant laws and regulations, the Central Bank of Nigeria has revoked the licenses of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc,” the statement said.

The central bank said the two institutions breached several provisions of BOFIA 2020 and regulatory guidelines, citing weak capital, balance-sheet strain and persistent non-compliance.

According to the CBN, the lenders failed to meet the minimum paid-up share capital requirement for their licence category and did not have sufficient assets to meet their liabilities.

The lenders were also “critically undercapitalised with a capital adequacy ratio below the prudential minimum ratio as prescribed by the CBN,” the regulator said, adding that both institutions failed to comply with several directives imposed by the central bank over time.

The action highlights the CBN’s broader push to tighten oversight of Nigeria’s financial system after years of regulatory forbearance, particularly in niche segments such as mortgage banking that have been weighed down by funding constraints, rising credit risk and weak profitability.

While the sector accounts for a small share of total banking assets, it is viewed as key to expanding access to long-term housing finance in Africa’s most populous economy.

The CBN said it remains focused on safeguarding systemic stability. “The CBN remains committed to its core mandate of ensuring financial system stability,” the statement said.

Following the withdrawal of the licenses, the NDIC was appointed liquidator of the two lenders and has begun the process of winding them up, including reimbursing eligible depositors.

In a separate statement on Tuesday, the Corporation said it had commenced liquidation in line with the NDIC Act 2023 and started verification and payment of insured deposits to customers of the defunct banks.

Depositors are entitled to receive up to ₦2 million per depositor, with payments to be made using Bank Verification Numbers (BVN) to identify alternate bank accounts for automatic credit.

Customers with balances above the insured limit will receive the initial ₦2 million, while the remaining sums will be paid as liquidation dividends after the realisation of assets and recovery of outstanding loans, the NDIC said. The corporation added that it would begin selling the banks’ assets and intensify debt recovery efforts to accelerate payments of uninsured balances.

The NDIC advised depositors to submit claims either online or physically at branches of the closed banks during the verification period, with valid identification and proof of account ownership. Creditors were also asked to file claims, with payments to follow after all depositors have been fully settled, in line with statutory provisions.

Staff and shareholders of the defunct banks will only be paid after depositors and creditors, from proceeds realised during liquidation, the NDIC said, while urging borrowers to repay outstanding loans and assuring the public that other licensed banks remain safe and sound.

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E-Business

JustMarkets Launches Global Boost Contest With Gold Prizes for Traders

Published

22 seconds ago

December 17, 2025

Ugo Onwuaso

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JustMarkets, a worldwide broker with more than 12 years of experience in the online trading realm, is launching the Boost Contest, which represents a large-scale trading activity with the purpose of motivating traders, with the most proficient traders being awarded for their exceptional performance through a number of valuable prizes. This activity will last until the 31st of January, 2026.

JustMarkets

A Competition Developed with the Goal of Providing More Opportunities for Traders Worldwide

Boost Contest competition participants will be traders with Standard, Pro, or Raw Spread accounts of the MetaTrader 4 or MetaTrader 5 platforms.

To participate, traders will only be required to have a minimum account balance of $100 with a minimum of 3 traded lots. These were the requirements set for participants. Of course, the purpose of such a competition is for every broker client to participate. At the same time, however, JustMarkets sought to encourage traders to conduct in-depth analysis, different strategies, risk, and discipline. It was with this objective that this form of competition was established.

Multiple-tier rewards system with real gold

What sets the Boost Contest apart is the Weekly Lucky Draws component, in which traders compete for real gold prizes, awarded in three levels, based on their cumulative trading volume achieved through the competition:

Tier I (more than 100 lots): 15 grams of gold (3 winners)

Tier II (50-99 lots): Gold worth 10 grams (5 winners)

Tier III (10-49 lots): 5 grams of gold (7 winners)

This competition design thus provides traders with different levels of activity with the same opportunity of benefiting from valuable rewards.

Weekly Draws to Encourage Continued Participation

Apart from the top-level prizes, the competition also includes a series of weekly prizes. Traders participating in the competition will qualify for entry into the draw if they execute a minimum of three trades per week. Five lucky traders will be awarded $200 every week.

The introduction of the Boost Contest meets JustMarkets long-term obligations in:

Engaging traders through effective rewards programs

Fostering regular and organized trading practices

Enhancing transparency and integrity within all promotion endeavors

Offering a welcoming space where traders with different skill sets can participate

This reflects the purpose of JustMarkets, which is not only to offer traders good trading terms but also opportunities that add value to the entire trading experience.

A Global Platform Built on Trust and Innovation

As a globally recognized trading platform, JustMarkets continues to invest in initiatives that elevate client experience while adhering to high operational standards. The company maintains a robust technological infrastructure, offers multilingual support, and upholds strict security principles, all foundational elements behind long-term client trust.

The Boost Contest shows JustMarkets dedication to create a convenient and transparent trading environment where everyone can reach their full investment potential by clear rules, transparent rewards, and a stable trading ecosystem.

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E-Business

Microsoft Empowers 350,000 more Nigerians with AI Skills

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30 seconds ago

December 17, 2025

Ugo Onwuaso

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Microsoft, in collaboration with the Federal Government of Nigeria, Data Science Nigeria, and Lagos Business School, today announced a major milestone in its AI National Skills Initiative (AINSI), with more than 350,000 Nigerians reached with AI skills through the programme. This achievement builds on Microsoft’s longstanding partnership with the government, which has delivered digital training to over 4 million people since 2021.

Microsoft

The milestone underscores Nigeria’s commitment to inclusive, technology-driven growth and reflects strong progress in preparing individuals and organisations to thrive in the digital economy.

“Nigeria cannot afford to wait,” said Abideen Yusuf, General Manager, Microsoft Nigeria and Ghana. “AI is reshaping every sector, and the countries that move fastest on skills will lead. We must equip people now, at scale and with intent, so the immense opportunity presented by AI doesn’t pass us by.”

Olayinka David-West, Dean of Lagos Business School, emphasised this point: “AI skilling is no longer optional for Nigeria’s digital future—it is the foundation of our competitiveness. At Lagos Business School, we believe that equipping leaders and citizens with AI capabilities is essential for driving inclusive growth, innovation, and national transformation.”

As it stands, a significant percentage of Nigerian graduates are still to acquire digital skills, highlighting the importance of workforce readiness. Launched in January, the second phase of the Nigeria skilling programme, under Microsoft’s AINSI, aims to reach 1 million citizens over three years, strengthening Nigeria’s AI capability and national competitiveness. AINSI is helping drive a range of different programmes designed to embed AI skills across every sector of the economy.

Empowering organisational leaders

Over the past year, AINSI has advanced ethical and inclusive AI leadership in Nigeria’s public sector. Working with Lagos Business School, the Federal Ministry of Communications, Innovation and Digital Economy, and the National Centre for Artificial Intelligence and Robotics, Microsoft has trained 99 public sector leaders, including Members of the National Assembly and senior executives from 58 ministries and agencies. These sessions equipped leaders with strategies for AI-powered reporting and sector-specific roadmaps.

Equipping developers for the future

Developer-focused programmes are creating a strong pipeline of technical talent. Through government-driven initiatives like Developers in Government (DevsInGov) and the 3 Million Technical Talent initiative, led by the Ministry of Communications, Innovation and Digital Economy, developers in public sectors have gained new skills. Around 645 participants have been trained in analytics and AI integration. Another 1,000 developers learned advanced skills in areas such as DevOps, machine learning and data science. These efforts are helping Nigeria’s workforce prepare for the future by advancing AI fluency across the digital ecosystem.

Bringing AI skills to every tech user

To reach everyday tech users, developers, and business leaders, Microsoft hosted a flagship programme, Microsoft AI Skills Week – engaging over 235,000 participants through AI digital literacy workshops, business leader strategy sessions and an Agentic AI hackathon. Partnering with VISA, TeKnowledge, UNICEF, Data Science Nigeria, and Lagos Business School, the initiative trained more than 11,400 individuals and certified over 1,700. A standout moment was the Agentic AI hackathon, showcasing innovative solutions for document verification, risk assessment, and fraud detection, demonstrating the real-world impact of AI skills in fintech.

“Our collaboration with Microsoft has demonstrated that AI readiness requires coordinated investment across every stakeholder group — government, developers, educators, and communities. By building capacity for evidence-driven governance, responsible innovation, classroom integration, and community adoption, we are laying the foundation for a globally competitive workforce. True digital transformation happens when the entire ecosystem moves forward together,” commented Dr. Bayo Adekanmbi, CEO/Founder, Data Science Nigeria.

Looking ahead, Microsoft and its partners will continue driving Nigeria’s digital transformation through targeted upskilling in AI and cybersecurity, expanded access to AI education, and ongoing developer training. These activities aim to build local expertise at all levels and support Nigeria’s young population in taking an active role in Africa’s digital future.

“Nigeria is on track to capture 43% of Africa’s projected $136 billion AI-driven productivity gains by 2030,” concluded Yusuf. “By collaborating with the government to equip leaders, developers, and tech users, we’re building a future-ready workforce and helping Nigerians adopt and adapt the technology, thereby maximising its potential.”

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