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HCDT Operationalization: Ugborodo Community Issues 7-Day Ultimatum To Renaissance, Chevron, Others 

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The people of Ugborodo Community in Warri South-West Local Government Area of Delta State have given a seven-day ultimatum to Shell Petroleum Development Company (SPDC), now operating under the name Renaissance, as well as NPDC, SEPLAT, NGIC, NPSL, Mobil Offshore, and other international oil companies (IOCs), demanding the immediate incorporation and operationalisation of their Host Community Development Trusts (HCDTs) across onshore, offshore, and deep offshore assets in their domain.

The community is also host to multi-billion Dollars Escravos Gas to Liquid Project (EGTL) operated by Chevron Nigeria Limited in Warri South West LGA of Delta State.

Speaking at a Tripartite Press Conference held at Ode-Ugborodo, the Ugborodo Community Management Committee (UCMC), Ikpere Alemeje Women Traders Association, and the Ugborodo Community Youth Development Body (UCYDB), jointly accused the oil multinationals and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) of deliberate neglect, disrespect, and exploitation of host communities in violation of the Petroleum Industry Act (PIA) and the Host Community Development Regulations.

The community leaders, who spoke through the UCMC Chairman, Emmanuel Onuwaje, Women Traders Chairlady, Madam Helen O. Nuco and the UCYDB Chairman, Wilson Ejeh, alleged that despite decades of oil exploration and billions of dollars generated from their land, Ugborodo people were left without potable water, electricity, employment, or meaningful youth empowerment opportunities.

They further accused Chevron and Renaissance of systematically sidelining qualified indigenes in employment processes but instead importing “relatives and friends from other parts of the country” to occupy jobs and contracts meant for host communities.

On the delay in implementing the NBC/NUPRC joint report on communities within the 500-metre buffer zone of the Escravos coastlines, the groups accused the Commission of stalling the implementation, thereby frustrating Ugborodo’s recognition as a statutory host community and preventing the establishment of HCDTs.

The Community’s Secretary, Samuel Besidone, who read the statement, said “We are tired of waiting. If nothing is done within seven days, we will be forced to stop all operations by International Oil Companies in our land.

“Our people are tired of being ignored. NUPRC must recognise us and set up our HCDT without delay,” they warned.

They stated that the patience of their people could not remain indefinite, warning that failure of IOCs, NUPRC, and relevant agencies to act within seven days will leave them with no option but to put a complete stop to all International Oil Companies’ operations within their communities saying “Enough is enough.”

They condemned vehemently recent attempts by some elements to destabilise the community’s peace and unity, including the formation of a “Governing Council of Ugborodo Community Trust” by unauthorised individuals.

The community leaders accused the groups of trying to incite violence and undermine the authority of recognised community organs.

Specifically, the leaders condemned the recent attempt by a “group of self-exiled individuals” to set up a parallel governing council for Ugborodo at a hotel in Warri, Warri South Local Government Area, far from the community.

They accused one of the group’s backers, allegedly a state government appointee, of plotting to destabilise Ugborodo and warned of potential conflict if any external force attempted to enforce the illegitimate council.

“We will resist any effort to invade our land in the name of government-backed deception. Our peace and unity are non-negotiable,” the community leaders stated.

The said further “You may be aware that some jokers recently converged somewhere at Ajamimogha, in faraway Warri South LGA, constituted nuisance and deluded themselves with the laughable and dead-on-arrival act of constituting a so-called ‘Governing Council of Ugborodo Community Trust.’

“Some of the mass media organisations who covered the unholy convergence far away from any part of Ugborodo Community allowed their media to be used to tell lies that the said unholy convergence was at Ugborodo Community!

“What could be more deceptive, with a part of the media organisations as accomplice! These set of self-exiles have no doubt, completely lost touch with the realities on the ground in Ugborodo Community.

“The known administrative organs set up and authorised by the appropriate authorities in Ugborodo Community are the UCMC under the leadership of Mr. Emmanuel Onuwaje, IkpereAlemeje Women Traders Association led by Madam Helen O. Nuco and the UCYDB under the leadership of Mr. Wilson Ejeh.

“The executives and members of these tripartite vital organs are seated here with us at Ode-Ugborodo, headquarters of Ugborodo Community. I leave you to be the judge.

“Though we are not in any way perturbed by the shenanigans of these self-exilee characters, we are nonetheless disturbed by the potential threat of their unpatriotic acts to the current security, peace and unity in Ugborodo Community, particularly when one of their sponsors is an appointee of the Delta State Governor, with the title/office ‘DG Security.’ Be that as it may, we are on the ground and at alert”, they added.

The community leaders vowed to resist any person or group of persons who  bent on destabilising their community adding ‘Governments at all levels should please take note as we are aware of his antics to invade the community with armed military personnel”.

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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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