General News
Afreximbank, Sterling to Offer Supply Chain Finance in Nigeria

African Export-Import Bank (Afreximbank) has partnered with Sterling Bank to introduce ‘Payables Finance’, a supply chain finance product in Nigeria. This product, branded as ‘Afreximbank Tradelink,’ is one of Afreximbank’s digital offerings under the umbrella of the Africa Trade Gateway (ATG).
ATG provides African corporates and commercial banks with relevant digital tools to access market information, connect with buyers and sellers across the continent for efficient marketing and procurement, facilitate Know Your Customer (KYC) processes, and promote trade payments between African countries in local currencies.
The product enables suppliers to access financing from the banking system by obtaining early payment for invoices which have been approved for payment by their corporate buyers.
The buyers continue to receive trade credit from the suppliers, and the suppliers finance their working capital through the early payment received, enabling them to grow their business.
The financing cost is linked to the credit rating of the corporate buyers, thereby making this product particularly valuable for SME suppliers who may face challenges in accessing bank finance at competitive pricing.
Payables Finance is the fastest growing trade finance product globally and there is an enormous opportunity for African businesses to benefit from it. The partnership with Sterling Bank is a unique arrangement which leverages the complementary strengths of both institutions to provide a comprehensive market-led solution to Nigerian corporates and their suppliers.
Under this arrangement, Afreximbank will provide financing to corporates and banks in both US dollars and euros while Sterling Bank will manage financing in naira.
Suppliers of Nigerian corporates can thus benefit from financing in both local and foreign currency as per their requirements.
Haytham ElMaayergi, Executive Vice President of Afreximbank Global Trade Bank, welcomed the launch as another milestone in realising the Bank’s vision of transforming Africa’s trade.
He said: “Afreximbank identified supply chain finance as a solution for improving access to trade finance in Africa and embarked on a journey to increase penetration through financial intervention and capacity building.
“The Bank’s Factoring Working Group has done extremely well to provide lines of credit to support factoring and has actively promoted factoring across the continent in collaboration with other institutions.” He added that the introduction of Payables Finance is the next step on the Bank’s roadmap for supply chain finance across Africa.
“African businesses now have the opportunity to harness the potential of this product, which has been widely adopted globally, at an accelerated pace by learning from the experiences of other regions and using the latest technologies which have been developed,” he explained.
Commenting on this partnership, Gwen Mwaba, Director & Global Head Trade Finance, Afreximbank said: “The launch in Nigeria is a first step in Afreximbank’s plans to introduce Payables Finance across Africa in partnership with leading African financial institutions.
“The product, which will deploy world class technology and a collaborative delivery model and will contribute towards achievement of the Bank’s strategic objective of reducing the trade finance gap in Africa, particularly for the Small and Medium Enterprises (SMEs) segment.”
Chukwuka Onuaguluchi, Ecosystem Banking Head at Sterling Bank, said: “Sterling Bank is committed to meeting the trade finance needs of Nigerian corporates and their suppliers and we are proud to introduce this much-needed product in partnership with Afreximbank for the benefit of Nigerian businesses.”
Afreximbank provides both US Dollar and Euro financing to businesses in its member countries across Africa and in Caribbean Community (CARICOM) member countries. The launch in Nigeria will be followed by similar partnerships in other African countries to expand local currency financing capability across the continent in a phased manner.
Adoption of the product will be supported by capacity building events to increase awareness of supply chain finance and its benefits. The product rollout in Nigeria is complemented by a workshop targeting corporate institutions and banks, in collaboration with Woodhall Capital, a leading finance company in Nigeria.
Underpinning the delivery of these new financial products is a market-leading supply chain finance platform, developed by UK-based fintech Demica, a leader in working capital solutions. Demica works with the world’s leading banks to power their supply chain finance solutions. In 2021, the company established a partnership with Afreximbank to extend this technology to banks across Africa.
General News
NOA Warns of Fake N1000 Notes in Circulation, How to Identify Them

National Orientation Agency (NOA) in Kwara has cautioned the public on fake N1000 notes circulating in the state.
Alhaji Abdulganiyu Dare, state director of NOA, disclosed this in a statement issued in Ilorin.
Dare emphasised the need for vigilance among residents and business owners in the state.
According to him, there is confirmed intelligence reports of syndicates flooding the area with counterfeit currency with batch numbers 364232 and 898248.
Dare said the counterfeit notes can be identified by their blurred portraits, watermarks, and irregular security features.
He urged the public to be cautious when handling large sums of money.
“The syndicates behind this crime exploit peak commercial hours in major local markets to carry out transactions with counterfeit notes.
“They target unsuspecting POS operators and merchants by defrauding them of their hard-earned money.
“NOA Kwara Directorate is committed to sensitising the public on the dangers of fake currency and the importance of verifying the authenticity of banknotes.
“The agency is working tirelessly to ensure that residents of Kwara are protected from financial scams,” he said.
While describing the crime as unpatriotic and capable of distorting the Nigerian economy, Dare said NOA would work closely with security agencies to bring the culprits to book.
The director advised residents to report any suspicious transactions or individuals to the authorities immediately.
“Together, we can build a safer and more secure financial environment for all residents of Kwara.
“By working together, the NOA and the public can prevent the circulation of fake currency and protect the financial interests of Kwara residents,” he said.
General News
NCC, IHS Towers Lead Others To NITRA-ALTON CNII & Telecom Sustainability Conference 2025

Telecom industry regulator, the Nigerian Communications Commission (NCC) and other industry operators, including IHS Towers, Digital Realty and 9mobile Nigeria, have joined the line of partners that will chart the way forward as stakeholders gather for the Maiden Edition of the CNII & Telecom Sustainability Conference 2025 being organized as a collaboration between media body, the Nigeria Information Technology Association (NITRA) and Industry advocacy group, the Association of Licenced Telecom Operators of Nigeria (ALTON).
Scheduled for August 7, 2025 in Lagos, the event, which is expected to host the Minister of Communication, Innovation and Digital Economy, Dr. Bosun Tijani, will also bring stakeholders from Nigeria Security and Civil Defence Corps (NSCDC) and the Peace Corps Nigeria, to discuss the security of infrastructure, stakeholders’ roles, and the practical implementation of the Critical National Information Infrastructure (CNII) Presidential Order.
Headlining the event, with its theme as “Telecoms Industry Sustainability and the CNII Act – Way Forward”, IHS Towers will throw light on the state of infrastructure in the country, while the Panel Session will discuss the “Role expectations of stakeholders in the implementation of the CNII Act”
Keynote speeches will come from the NCC EVC, Dr. Aminu Maida and the President of the Association of Telecommunication Companies of Nigeria (ATCON).
The Nigerian Designation and Protection of Critical National Information Infrastructure (CNII) Order, 2024, aims to safeguard critical infrastructure like telecommunications networks, financial systems, and power grids by designating them as CNII and outlining measures for their protection. This order, signed in June 2024, is an extension of the Cybercrimes Act of 2015 and seeks to reduce disruptions to these vital systems.
Some of the questions stakeholders will give answers to at the Panel Discussion include:
- How do we ensure that this Order is implemented to the letter?
- What are the roles of each stakeholder in the industry – Federal, States, Operators, Consumers, and other actors?
- Are telecom companies keying into the CNII provisions, and how?
- Are there areas worth looking into once more, or is the Order perfect as it is?
- What is the role of regulators in ensuring public compliance to the Bill?
- How do we ensure security?
- What is the place of collaboration?
- Publicity: how much of the CNII provisions are the public aware of?
- How can we sustain the growth and development of telecommunications in Nigeria?
According to the General Secretary of NITRA, Mr. Chidiebere Nwankwo, this industry collaborative event will afford stakeholders in the public and private sectors the opportunity to sit back together and review how well the CNII Order has thus far been implemented, and to re-strategise, if need be, on the way forward.
“This event is key because it will bring Stakeholders to the CNII plan to a roundtable to re-evaluate the decision, make amends and continue the journey. This has to be a periodic gathering to make the goals of this order achievable,” he said.
ALTON is the official private sector industry body for all providers of telecommunications and subsidiary services in Nigeria.
The Chairman of ALTON, Engr. Gbenga Adebayo and the Chairman of NITRA, Mr. Chike Onwuegbuchi will be on hand to welcome industry stakeholders.
General News
Fearless Freedom Launches to Tackle Inequality and Champion Global Economic Inclusion

Fearless Freedom, a bold new global advocacy initiative focused on ending economic inequality and expanding economic opportunity, officially launches today, 2nd August, 2025.
Backed by the founder of Fearless Fund, the first venture capital fund in the U.S. built by women of color for women of color, this new chapter builds on a legacy of breaking barriers and driving inclusive progress.
The launch of Fearless Freedom comes nearly one year after the dismissal of a federal lawsuit that challenged the organization’s efforts to empower underrepresented communities. The case, which drew national attention, was filed on August 2, 2023, and dismissed permanently on September 11, 2024.
Fearless Freedom is not just an advocacy; it is a global movement for visibility, justice, and financial equity. Through storytelling, policy conversations, and creative programming, Fearless Freedom is reclaiming space, spotlighting the real challenges, and championing the people building powerful solutions.
“Fearless Freedom is our global declaration, a refusal to be silenced, erased, or sidelined,“ said HM Queen Wa Arian Simone, CEO of Fearless Fund. “We’re not just funding change anymore, we’re amplifying the voices that have always driven it. This initiative is about power, presence, and rewriting the rules of who gets seen, supported, and heard.”
“August 2nd was once about legal resistance. From now on, it marks something else: a day of fearless expression and global visibility,” she added.
As a global advocacy initiative, Fearless Freedom will spark meaningful dialogue around economic inclusion, inviting communities to reflect, learn, and speak out against financial inequality, all through creative expression and powerful storytelling.
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