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Nigeria Has Really Favoured Lebanese Firms, Investors -Group

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The Lebanese Nigeria Initiatives (LNI) in Nigeria yesterday said that the country had over the past decades been a nation of blessings to Lebanese companies and investors.
LNI’s Secretary, Mr Ali Safiyyedine, made the disclosure in Lagos at a news conference to announce the organisation’s launch of its first Scholarships and Endowment Fund for young Nigerians.
Safiyyedine said that the organisation had opened an endowment fund in American University of Beirut for young Nigerians as a way of giving back to Nigeria.
“We would forever be grateful to Nigeria for what she had over these years done for us Lebanese.
“And as a way of giving back to this great country, we at LNI have decided to open an endowment fund for young Nigerians in American University of Beirut that will continue even after we are gone.
“So, we have after many interviews and tests, selected the first Nigerian, Mr Olubando Ajibola, as the distinguished young man embarking on this journey for his MBA in the American University of Beirut,” he said.
Safiyyedine said that the organisation came up with the initiative to enable Nigerians study in the university for their Post Graduate degree and come back to contribute to the development of their country.
The Consul General of Lebanon in Lagos, Mr Elias Nicolas, said that the gesture was a further demonstration of the Lebanese interest in the development of Nigerians.
According to him, the Lebanese community are always delighted in contributing to Nigeria’s economic and social development.
“We are very pleased to launch the LNI scholarship and endowment fund for Nigerians today. This will further strengthen our long existing friendly relations in the years ahead.
“The Lebanese community has always conceived itself as part of the social fabric of its host country, and this fund is another sign of its commitment to the educational upliftment of young Nigerians.
“I warmly congratulate the huge effort of LNI’s Chairman, Mr Faisal El-khalil and members of the board of trustees for this laudable initiative.
“Let me also congratulate Olubando Ajibola as the first Nigerian selected for this scholarship programme. We hope you will be an ambassador for promoting our two countries values and interest during your study,” he said.
Mr Olubando Ajibola, a graduate of Petroleum and Gas Engineering from the University of Lagos, commended LNI and its board of trustees for selecting him as the first Nigerian beneficiary of the fund.
Ajibola said he would focus his MBA study on data collection analysis that would help enhance business development in Nigeria in the future.

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“FCCPC Approves Sale Of Chivita|Hollandia To UAC Nigeria PLC 

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UAC of Nigeria PLC (UAC) has announced the completion of it’s in a press release on October 3, 2025, that it has completed the acquisition of Chivita|Hollandia (CHI Limited), following approval from the Federal Competition and Consumer Protection Commission (FCCPC).
Revealing this in a Press Release, at the Weekend, UAC said the transaction, first disclosed on July 30, 2025, involved the transfer of ownership of CHI Limited, a leading Nigerian food and beverage company best known for its market-dominant Chivita juice and Hollandia dairy brands, to UAC.
Commenting on the development, the Managing Director, CHI Limited, Eelco Weber, expressed optimism in the company’s future under UAC’s ownership.
“We are pleased to have received regulatory approval for this transaction. We look forward to a smooth transition and to seeing Chivita|Hollandia thrive under UAC’s ownership,” he said.
Group Managing Director of UAC, Fola Aiyesimoju, highlighted the strategic importance of the acquisition saying “We are excited to officially welcome the Chivita|Hollandia team and brands into the UAC family, and we are eager to work together to build on their strong legacy and market leadership”.
The acquisition is expected to strengthen UAC’s position in Nigeria’s fast-moving consumer goods (FMCG) sector, expanding its footprint into the growing juice and dairy markets.
UAC further said that the acquisition aligned with its growth agenda by adding two market-leading brands and a well-established distribution network to its por.
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PenCom Reintroduces Gratuity For Federal Civil Servants

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The National Pension Commission has said it has deployed a framework to restore gratuity for Federal Civil Service under the Contributory Pension Scheme.
Director-General of PenCom, Omolola Oloworaran, disclosed this at a Stakeholders’ Conference on the Workings of the Contributory Pension Scheme (CPS) for Employees and Pensioners of Federal Government Treasury-Funded Ministries, Departments and Agencies, in Abuja, last Thursday.
Represented by the Acting Commissioner, Technical, PenCom, Hon. Hafiz Kawu Ibrahim, Oloworaran said, “Working with the office of the Head of the Civil Service, a framework has been developed to restore gratuity benefits for federal workers under CPS, in line with Section 4(4) of the PRA 2014.”
The PenCom DG added that “PenCom has enhanced pensions for over 241,000 retirees, representing 80% of those under Programmed Withdrawal. Monthly pensions rose from N12.157 billion to N14.837 billion, effective June 2025.
“Also, since July 2025, no retiree waits to access their pensions. Payments are now immediate, aligned with monthly salary releases from the Federal Ministry of Finance”.
Also speaking, the Chairman of the National Salaries, Income and Wages Commission, Ekpo Nta, stated that the Commission would partner PenCom to examine the current rate of retirement benefits and recommend appropriate mechanisms for periodic reviews of retirement benefits.
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CAC, SMEDAN To Register 250,000 MSMEs Free ……..As CAC Forfeits ?3b In Fees Nationwide

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The Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) have announced a joint initiative to register 250,000 Micro, Small, and Medium Enterprises (MSMEs) free of charge across the country, with CAC foregoing about ?3 billion in registration fees
The initiative, announced during the signing of a Memorandum of Understanding (MoU) in Abuja, at the Weekend, seeks to remove barriers such as high costs and bureaucratic challenges that have long kept many small businesses in the informal sector.
The Registrar-General, CAC, Hussaini Ishaq Magaji, SAN, explained that the scheme would eliminate the registration fee, helping entrepreneurs access official recognition and grow their businesses.
SMEDAN Director-General, Dr. Charles Odii, added that registration is just the first step, noting that registered businesses will benefit from continuous aftercare such as grants, training, and market access.
Together, the two agencies noted that CAC will forgo approximately ?3 billion in registration fees, while SMEDAN will provide continuous support to help these businesses thrive.
They added that this partnership supports the Federal Government’s Renewed Hope vision to boost Nigeria’s economy by empowering entrepreneurs.
CAC further disclosed measures to ease company registration with the steps as follows: 1. Visit the SMEDAN portal: http://portal.smedan.gov.ng., 2 Sign up and complete your registration on the portal., 3. When asked if you have a CAC number, select “No”., 4. Submit your details to complete the process., 5. Once registration is completed, you will be contacted with the next steps to finalise your free CAC registration.
It further clarified that MSMEs already on SMEDAN’s database without CAC registration automatically qualify for this free registration drive.
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