Business
President Pledges Support for Fintech Companies As Flutterwave Seeks Listing on NGX
The CEO of Flutterwave, Agboola, said the company has made it easy for Nigerians to pay for some global services with Naira and provided payment platforms for Nigerians in the diaspora who are willing to send money to families and relatives in the country.
▪︎In picture: President Bola Ahmed Tinubu, Minister for Finance and Coordinating Minister of the Economy, Mr Wale Edun, Chief Executive Officer Flutterwave, Mr Olugbenga Agoola and CEO Alami Capital, Miss Olu Seun Olufemi-White, after a Meeting at the Presidential Villa Abuja.
President Tinubu said his administration will support businesses in the financial technology sector that provide payment infrastructure services for Nigerians and Africans.
He said this when he received the leadership of Flutterwave and Alami Capital in Abuja on Saturday afternoon.
Flutterwave, a leading Fintech company founded by young Nigerians and headquartered in Lagos, operates in the U.S., Canada, Nigeria, Kenya, Uganda, Ghana, South Africa, and 29 other African countries. Olugbenga Agboola, the CEO; Adeleke Adekoya, a co-founder; Oluwabankole Falade and Mitesh Popat, represented Flutterwave at the meeting.
Ms Oluseun Olufemi-White represented Alami Capital as its CEO. Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun led the delegation to meet President Tinubu.
Dr. Armstrong Ume Takang, the Managing Director and Chief Executive of the Ministry of Finance Incorporated (MOFI), and Dr. Inuwa Kashifu Abdullahi, the Director General/ Chief Executive Officer of the National Information Technology Development Agency (NITDA), also attended.
President Tinubu said Nigeria is genuinely open to business, and as President, he is determined to remove all obstacles to allow companies to thrive.
He commended Flutterwave’s commitment to building capacity in the digital economy sector, especially as it is being made possible by energetic, young Nigerians.
He said he is honoured to be the President of a country with such a youthful and resourceful population.
He said the leadership Flutterwave provides in the digital world is what Nigeria needs today to grow its economy and make life easier for most of its population.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said Flutterwave has made significant progress since its establishment 10 years ago.
It has created jobs and helped diversify the economy by providing innovative digital platforms and payment services in Nigeria and across Africa.
The CEO of Flutterwave, Agboola, said the company has made it easy for Nigerians to pay for some global services with Naira and provided payment platforms for Nigerians in the diaspora who are willing to send money to families and relatives in the country.
He said Flutterwave, valued at over $3 billion, is a Nigerian export and brand employing over 1,000 Nigerians.
He said the company seeks to be listed on the Nigerian Exchange and solicited the President’s support.
The Managing Director and Chief Executive of MOFI, Dr. Armstrong Ume Takang, said that as Africa’s biggest economy, Nigeria must demonstrate its economic prowess by strategically positioning products and services by Nigerian companies, such as Flutterwave, in the homes of all Africans.
He said Flutterwave spends millions of dollars monthly on hosting services, but that money goes to other countries.
He suggested supporting Galaxy Backbone’s hosting services to enable it to handle companies like Flutterwave.
Business
NAFDAC Seals 18 Warehouses Over Expired Products in Niger State
According to NAFDAC, about 80,000 packets of expired non-alcoholic drinks, 5,000 packets of dairy milk, 16,000 packets of bottled water, 28 cartons of pasta and other assorted expired products were uncovered during the operation.
Photo: Expired beverages ; Credit: NAFDAC
The National Agency for Food and Drug Administration and Control (NAFDAC) has sealed no fewer than 18 warehouses in Bida, Niger State, following the discovery of large quantities of expired food and beverage products valued at over ₦100 million.
The warehouses, located around Ndazabo White House along Minna Road and behind Bida Modern Market, were shut after NAFDAC’s Investigation and Enforcement team acted on credible intelligence.
Items recovered during the raid included expired non-alcoholic beverages, dairy milk, candies, bottled water and pasta, some of which were already packaged for distribution.
According to NAFDAC, about 80,000 packets of expired non-alcoholic drinks, 5,000 packets of dairy milk, 16,000 packets of bottled water, 28 cartons of pasta and other assorted expired products were uncovered during the operation.
Managers of the affected warehouses were arrested for interrogation, during which preliminary findings linked the facilities to a company identified as BY Ventures.
This prompted NAFDAC officials to extend their operation to supermarkets owned by the company in Minna, where additional expired products and counterfeit Goya oil were allegedly found.
Both supermarkets were subsequently sealed, while the Managing Director of the company, Alhaji Yusuf Nadabo, was invited for further questioning.
The agency said that he admitted ownership of the expired products during interrogation.
NAFDAC stated that investigations are ongoing and that appropriate regulatory sanctions would be imposed at the conclusion of the process to serve as a deterrent to others.
Business
Wema Bank Announces Grand Event for International Women’s Day 2026 on March 4
Wema Bank, Nigeria’s oldest indigenous financial institution and pioneer of Africa’s first fully digital bank, ALAT, has announced it will host its highly anticipated 2026 International Women’s Day (IWD) Grand Event on Tuesday, March 4, 2026.
The event, described by the bank as the industry’s biggest celebration of its kind, aligns with the global IWD 2026 theme “Give To Gain.” Wema Bank has adopted the sub-theme “When Women Gain, We Grow,” emphasizing the transformative impact of supporting and investing in women across personal, professional, and societal levels.
According to Managing Director/CEO Moruf Oseni, the initiative underscores the bank’s long-standing commitment to women’s empowerment and gender inclusion, in line with United Nations Sustainable Development Goal 5.
Through its women-focused proposition, SARA by Wema (launched in 2019), the institution has consistently championed programs like SARA Gives and the Big Sister Graduation Challenge to uplift women at every stage.
The March 4 event is expected to feature keynote addresses, fireside chats, panel discussions, networking sessions, and opportunities to convene top women leaders from diverse industries alongside everyday women navigating their paths to success.
It aims to foster actionable conversations on empowerment, leadership, and collective growth.
Registration is now open via the official portal at wemabank.com/iwd, with the bank encouraging early participation to secure spots.
This announcement builds on Wema Bank’s history of impactful IWD celebrations and reinforces its dedication to promoting gender equality and women’s advancement in Nigeria and beyond.
Further details on the venue, speakers, and full agenda are expected to be released in the coming weeks.
Business
Dangote expands daughters’ roles as succession plan accelerates
Mariya Dangote, who joined the board of Dangote Cement last July following her father’s retirement as chairman, will now oversee commercial strategy for the cement business.
• Aliko Dangote and his daughters
Aliko Dangote, Africa’s richest man, has assigned expanded leadership roles to his three daughters as part of preparations for the future of his industrial conglomerate, which he aims to grow into a $100 billion business within the next four years.
According to Business Day, an internal memo confirmed by a company spokesperson, Halima, Fatima and Mariya Dangote will take on broader responsibilities across key divisions of the Dangote Group, signalling a deliberate shift towards the next generation.
Fatima Dangote, the youngest, will assume a senior commercial role within the group’s energy division, which includes its Lagos-based oil refinery.
She will continue to oversee corporate communications and administration for the wider group.
Halima Dangote, who currently manages the family office in Dubai, will extend her oversight to its London operations while supporting the company’s international expansion efforts.
Mariya Dangote, who joined the board of Dangote Cement last July following her father’s retirement as chairman, will now oversee commercial strategy for the cement business.
She will also take on responsibility for shaping strategy across the group’s food operations in all markets.
In the memo, the company said that the appointments were intended to “empower a new generation to take on expanded responsibilities in shaping our future.
”The changes mark a clear step in Dangote’s succession planning, transferring more operational authority to his daughters while he retains overall strategic control.
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