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MAN Backs New Customs Clearing System

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Manufacturers Association of Nigeria (MAN) has commended the single window initiative by the Nigeria Customs Service, saying it would eliminate human contact, bottlenecks and corruption from goods clearing environment.

President of the association, Chief Kola Jamodu, described it in Lagos recently at the end of single window workshop organised by the Customs Service, as a necessary platform needed to significantly boost government revenue from trans-border trade. Besides, he said it would help in actualizing the nation’s dream for 48-hour cargo clearing scheme.

“From all accounts, the aspiration of the Government and the private sector is the attainment of 48-hour cargo-clearing, which at present is about five days, having come down from the dismal 40 days obtainable three to four years ago.

“The impressive reduction in the long chain of regulatory/ security agencies operating at the port from about 19 to seven were to prepare the port for the Single Window Clearing System. This will no doubt significantly reduce both direct and indirect costs of clearing cargoes in the country,’’ he said adding, that the NSW would certainly increase the competitiveness of locally produced goods, either for domestic consumption or for export.

Meanwhile, the Comptroller General of Customs, Alhaji Dikko Inde Abdullahi, has assured the nation that when the NSW comes on stream, it might wipe off stakeholders’ complaints on issues of man-made bottlenecks in cargo administration.

“The creation of a NSW holds many benefits for Nigeria: increased levels of service efficiency, predictable process and elimination of administrative bottlenecks; and which will ultimately increase revenue and economic growth”, he declared, in a statement delivered by Deputy Comptroller General (DCG), Mr. J. Atteh, who represented him at the workshop.

According to the Customs’ boss, single window was a tool which manufacturers, exporters, importers, terminal operators, financial houses and regulatory bodies have all been waiting for.

“The Nigeria Customs Service recognizes these benefits and therefore reiterates its continuous commitment to creating the perfect NSW for Nigeria as the leading agency. All hands are on deck to realize the target of improving our trading across borders ranking by 50 percent in the next five years”, he said.

Meanwhile, a Single Window expert, Johan Ponten has advised that though the initiative was a positive change, Nigeria must ensure that it proactively implement plans to prepare and support those to be affected by it.

Presenting his feasibility study as a resource person, Ponten stressed the need for proper use of communication to intimate reasons behind every decision, for staff see reasons and understand why such change was needed, as well as the possibilities and challenges that lay ahead of them.

“New information should be given in a coordinated, effective and timely way. Roles should be clear, detailing who is responsible for sending what messages” he counseled, even as reiterated the need for accuracy of information, being precisely shared at regularly arranged stakeholders’ fora. “If stakeholders are not convinced about what they are listened to, they will go silent” he posited further. In her contribution, resource person and NSW content enhancer, Valentina Mintah traced NSW journey back to strenuous and painstaking efforts, studies and stakeholders meetings held between April, 2012 and September 2012, especially from the first National Stakeholders Conference which was supported by UNECE, UNECA and the WCO, organized by the NCS and MAN to enable both the private and public sectors define the concept of the NSW.

“There have been a number of attempts at Single Window implementations around the world with a mixed bag of outcomes. Successful implementations such as Singapore, Senegal and Thailand have organically grown their Single Window environment by focusing on the streamlining of processes; empowerment of system operators and users; the inclusion of private sector in implementation activities; strong technical capacity; the creation of ICT systems owned by the nation; strong consultation framework and sound governance and management structures.

“To ensure a similar success story, if not better, we adopted a systematic approach of conducting a Feasibility Study by ensuring adequate focus was given to the 4Ps, which is People, Processes, Platform and Policy”, she highlighted, noting that the feasibility study involved days of desk research, countless stakeholder meetings and strategic site observations to ensure that the needs of the nation’s trade environment was fully captured, the gaps understood and a road map laid out to help in a collective attainment of vision.

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NEM Insurance celebrates IWD 2026 with pledge to sustain support for women endeavour

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NEM Insurance Plc – the number one motor insurance provider in Nigeria, in a vibrant commemoration of the 2026 International Women’s Day (IWD), has reaffirmed its dedication to fostering an inclusive environment that empowers women to excel in their endeavours.
Speaking at the corporate headquarters in Lagos, the Chairman of NEM Insurance Plc, Tope Smart, stated that the company remains resolute in its mission to support women affairs, noting that their contributions are vital to the sustainability of the insurance industry.
Aligning with the global theme “Give To Gain,” Smart highlighted that the insurance provider views gender diversity not just as a corporate social responsibility, but as a core driver of innovation and high-level performance.
“Our commitment to female professionals at NEM Insurance is unwavering,” Smart declared. “We recognize that by ‘giving’ women the right tools, mentorship, and leadership platforms, the industry ‘gains’ unparalleled dedication and diverse perspectives that move the needle of progress.”
The multiple award winning underwriting company and one of the top three leading general insurance business companies in Nigeria, has remained focused in promoting and supporting women affairs.
Adding her voice to the celebration, the General Manager, Corporate Services, Mrs. Mojisola Teluwo, emphasized that the company’s gender-focused initiatives, such as the “She Means Business” contest, represent a practical approach to inspiring inclusion.
Mrs. Teluwo maintained that supporting women-led initiatives is a strategic investment in the fabric of society, rather than just a philanthropic gesture.
“At NEM Insurance, we believe that when a woman thrives, a family thrives, and the nation prospers,” Mrs. Teluwo stated. “The ‘She Means Business’ initiative is our way of moving beyond mere applause for women toward active, tangible support. We are proud to provide the financial catalyst needed for visionary women to turn their business aspirations into reality.”
To mark the occasion, the leadership outlined several key pillars of support:
Leadership Development: Targeted training programs to prepare more women for executive-level decision-making.
Inclusive Work Culture: Sustaining a workplace environment that balances professional growth with personal well-being.
Economic Catalyst: Providing grants and professional frameworks to help female entrepreneurs upscale their operations.
The event featured a series of internal sessions where female staff engaged in mentorship dialogues, focusing on career advancement within the evolving landscape of the Nigerian insurance sector and paint and Sip, which provided an opportunity for women to showcase their creativity.
Smart concluded by urging other industry stakeholders to prioritize the development of female talent, asserting that a more inclusive sector is a more prosperous one for all Nigerians.
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Nigeria: Profit-Taking Persists as NGX Dips Marginally by 0.2%

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Trading on the Nigerian Exchange (NGX) closed slightly lower on Wednesday as profit-taking in selected equities continued to weigh on the market, dragging key performance indicators into negative territory.
Market data showed that the benchmark All-Share Index (ASI) declined by 0.09 per cent to close at 195,898.53 points, compared with the previous session’s level, as investors booked profits in some large and mid-cap stocks.
Consequently, market capitalisation shed N107.57 billion, settling at N125.75 trillion. Despite the marginal decline, the market still maintained positive returns, with the month-to-date gain standing at 1.6 per cent, while the year-to-date return moderated to 25.89 per cent.
The downturn was largely driven by losses recorded in stocks such as Presco Plc and UAC of Nigeria Plc, both of which declined by 10 per cent, alongside Dangote Cement Plc, which slipped by 0.6 per cent.
Market breadth closed negative, reflecting bearish investor sentiment, as 40 stocks recorded losses compared with 29 gainers, translating to a market breadth ratio of 0.7 times.
Among the top gainers were NGX Group Plc and Premier Paints Plc, which appreciated by 10 per cent and 9.9 per cent respectively. Other notable gainers included Omatek Ventures Plc, Prestige Assurance Plc and HMC Allied Plc.
On the losers’ chart, Presco Plc and UAC of Nigeria Plc led the decline with 10 per cent losses each, followed by Morison Industries Plc, LivingTrust Mortgage Bank Plc and SCOA Nigeria Plc.
Sectoral performance was mixed, with the Industrial Goods index leading the gainers after advancing by 1.42 per cent, while the Banking index recorded a marginal gain of 0.04 per cent.
Conversely, the Commodities sector topped the laggards, declining by 1.30 per cent. The Insurance index fell by 0.44 per cent, the Consumer Goods index dipped by 0.43 per cent, while the Oil and Gas index edged down by 0.06 per cent.
Activity level on the exchange weakened as investors traded a total of 671.27 million shares valued at N26.13 billion in 58,792 deals.
This represents a decline of 8.61 per cent in volume, 5.18 per cent in value and 9.31 per cent in the number of transactions compared with the previous trading session.
Wema Bank Plc emerged as the most actively traded stock by volume and value, accounting for 106.36 million shares worth N2.75 billion.
Analysts said the cautious mood in the market reflects continued portfolio rebalancing by investors following the strong rally recorded earlier in the year.
They noted that trading may remain mixed in the near term as investors react to corporate earnings releases and macroeconomic development.
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Wema Bank Admits 10 Startups into Hackaholics 2026

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Wema Bank has admitted 10 Nigerian startups into the 2026 edition of its Hackaholics Accelerator Programme as part of efforts to strengthen innovation, entrepreneurship, and sustainable business growth in the country.
The 10 cohort selected startups for the 2026 edition such as; Farmslate, Ploy, Stocmed, Feest , Varsityscape, MamaAlert, Sane, Cyclex, Kieva and Loocomo were drawn from the top performing finalists of Hackaholics 6.0.
The Hackaholics Accelerator, a selective growth programme under the bank’s Hackaholics platform, is designed to help promising startups reinforce their business foundations while preparing them for scalable growth and investment readiness.
Wema Bank said the programme represents a strategic expansion of its support for innovators, moving beyond ideation and competition to hands-on startup development after six years of driving innovation through the Hackaholics initiative.
According to Wema bank, the accelerator provides founders with structured mentorship, industry guidance and access to networks required to transform innovative ideas into viable and scalable businesses.
Speaking at the programme, Managing Director and Chief Executive Officer of Wema Bank, Mr. Moruf Oseni, said the accelerator demonstrates the bank’s commitment to supporting founders beyond the early stages of innovation.
He noted that Hackaholics has evolved from a competition into a platform that showcases Nigeria’s entrepreneurial potential and technological creativity. Where he explain that the second edition of the accelerator focuses on helping founders transition from ideation to building sustainable business capable of long trem projects .
“Over the past six years, Hackaholics has grown into more than a competition; it has become a platform that reveals the depth of innovation and entrepreneurial potential that exists across Nigeria,”Oseni said.
Oseni stressed that the startups selected are representing some of the most promising solutions emerging from the Hackaholics ecosystem, and the back remain committed to helping them refine their business models, strengthen their operational foundations, and scale their impact.
Also speaking at the program , Wema Bank’s Chief Transformation Officer,Mr. Babatunde Mumuni, said the accelerator would guide founders through a structured process aimed at strengthening their operations and positioning them for sustainable growth.
As part of the programme, startups founders will participate in intensive training sessions facilitated by industry experts across key areas of business growth. Facilitators include Wema Bank executives such as Chief Transformation Officer, Babatunde Mumuni; Head of Strategy and Investor Relations, Femi Akinfolarin; Head of Data Transformation, Olamide Jolaoso; and Team Lead, Corporate Social Investment, Oluwatoyin Adetunji. While External facilitators include Managing Director of Impact Hub Lagos, Idowu Akinde; Managing Director of B4B Partners, Napa Onwusa; startup advisor and scout, Onaopemipo Dara; Google for Startups mentor, Rosemond Phil-Othihiwa; Head of Growth at Africhange, Tega Ogigirigi; and startup advisor and mentor, Ademola Adewuyi.
The Hackaholics Accelerator is also supported by Wema Bank’s broader innovation ecosystem, including IDEAx Labs, the bank’s innovation and venture platform, and its corporate venture programme focused on enabling startup growth through partnerships, infrastructure and access to capital.
Since its launch in 2019, Hackaholics has grown into one of Nigeria’s leading youth innovation platforms, attracting more than 15,000 applicants and supporting hundreds of digital solutions across multiple sectors.
Through the initiative, Wema Bank said it has disbursed more than $400,000 in funding to young innovators and startup founders nationwide.
Previous participants such as Feegor, Myitura and Bunce have emerged from earlier editions of the programme, highlighting the accelerator’s focus on nurturing growth-ready companies. Meanwhile the 2026 edition builds on this progress by supporting startups as they transition from innovation to sustainable business growth.
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