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How Corporate Lending Firms are Shaping Asset Financing in Nigeria

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In today’s fast-paced business world, staying ahead of the competition often means having access to the right tools, equipment, or vehicles. Yet, acquiring these assets can strain even the healthiest of budgets, forcing companies to either cut back on growth opportunities or dig into reserves.

This is where asset financing comes in, a lifeline for businesses looking to thrive without draining their cash flow. Through asset financing, companies can acquire necessary equipment or machinery without having to pay the full cost upfront. Instead, they spread the payments over time, ensuring they keep their working capital intact for other pressing needs.

Three years ago, Adebayo Logistics, a small transport company based in Lagos, was on the brink of a breakthrough. They had just landed a significant contract with a large e-commerce company to handle nationwide deliveries. But there was one problem, they did not have enough trucks to meet the new demand.

Purchasing the required vehicles outright would have drained their resources, potentially jeopardizing their ability to pay staff and cover operational costs. That is when they turned to asset financing from CitiHoms Finance Company.

With an affordable and flexible payment plan, Adebayo Logistics was able to acquire the fleet they needed without breaking the bank. Over the next few months, their revenue skyrocketed as they fulfilled the contract and expanded their operations. Asset financing not only enabled them to seize this business opportunity but also helped them grow sustainably.

Today, Adebayo Logistics is one of the fastest-growing transport companies in the region, a testament to the power of timely financial solutions.

Why Businesses Need Asset Financing

  • Preserves Cash Flow: Asset financing spreads payments over time, allowing businesses to retain their working capital.
  • Quick Access to Equipment: No need to wait until you have saved up for major purchases; asset financing gives you access to the equipment you need when you need it.
  • Tax Benefits: Many forms of asset financing come with tax deductions on interest payments, which can further reduce the cost.
  • Increased Flexibility: From leasing to hire purchase, businesses have multiple options to choose the plan that best fits their financial situation.
  • Protects Against Depreciation: Leasing, in particular, helps businesses avoid the risk of depreciation that comes with owning rapidly outdated equipment, especially in tech-heavy industries.

At CitiHoms Finance, we understand that every business journey is unique, which is why we offer tailored asset financing solutions designed to meet your specific needs. Whether you are a small business looking to expand or an established company aiming to upgrade, our flexible financing plans can help you get the equipment you need to stay competitive.

Do not let capital constraints hold your business back. Contact CitiHoms Finance Company today to explore how our asset financing solutions can fuel your business growth. With us by your side, you will have the tools you need to succeed without sacrificing your financial stability.

Get started now by visiting our website or speaking to one of our experts. Let us grow your business together!

 


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IHS Nigeria, UNICEF Donate Oxygen Plant to Bridge Health Gap in River State

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IHS Nigeria and its implementing partner, the United Nations Child Education Fund (UNICEF) has expressed satisfaction that the Oxygen Plant recently donated to Rivers State is helping to bridge the health Gap in the state and its environs.

This observation was made recently when officials from IHS Nigeria and UNICEF, carried out a project inspection visit to the plant located at the General Hospital in Eleme, Rivers State.

During the handing over of the oxygen plant to the Rivers State Government in 2024, the facility was reported to have a production capacity of 123 oxygen cylinders and 720,000 litres of oxygen every 24 hours.

The plant was built under a Public-Private Partnership involving UNICEF, the Canadian Government, IHS Nigeria, in partnership with the Rivers State Ministry of Health through the State Hospital Management Board.

Speaking during the visit to the facility yesterday, the Director of Sustainability at IHS Nigeria, Titilope Oguntuga, noted that the oxygen plant has saved lives and is helping to bridge health gaps in the eight other states where similar plants are located.

She further explained that the visit reflects the organisation’s commitment “not only to create opportunities for impact but to also continue supporting the healthcare industry by carrying out such interventions that directly impact individuals and saves lives. This plant is one of the nine oxygen plants we have built across the federation,” she said.

“We are particularly excited that it is helping to bridge health gaps—not just in Rivers State and its environs, but in all the states where the plants are currently located.”

Oguntuga informed that in terms of sustainability “we focus our intervention sustainability on four pillars; ethics and governance, education and economic growth, environment and climate change and finally, people and communities”.

She added that “the visit to the Rivers State oxygen plant is to have an assessment of how well the plant is functioning, the impact it is currently making and to generally understand how the operation is going”.

On his part, Chief of UNICEF Field Office, Port Harcourt, Dr Anslem Audu, stated that the plant has been very functional and useful to the people of Rivers State. According to him, “During the COVID-19 pandemic, a lot of patients needed oxygen and oxygen was not available. So many children will come down with pneumonia and it will become an emergency, they will need oxygen, but oxygen is not available in the hospital. But with this plant now available no child will die because of lack of oxygen in the hospital. The era of lack of oxygen is no longer there.

Audu added that “You can practically visit any of the hospitals in Port Harcourt and find out that they have oxygen and the product is from this plant all thanks to IHS Nigeria, the Canadian Government and UNICEF”.

The UNICEF field officer, who confirmed that the plant is functioning optimally, said it is producing enough oxygen for the state’s needs.

In his words, “The partnership between these three organizations and the Ministry of Health in Rivers State has really worked, and we are reaping the benefits of the partnership.

He urged the implementing partners, especially the government, to also invest in the sustainability of the facility by providing a source of electricity for the plant to be more functional.

Earlier, the Medical Director Eleme General Hospital, Dr Leechi-Okere Clarabelle, noted that since the day of the unveiling, the plant has been functioning very well. Commenting on impact he noted that “We’ve had success stories whereby oxygen is distributed to public hospitals in the state, including the two teaching hospitals in the state and then we have also extended distribution to some private hospitals within the state.

“We have two hubs that serve as storage and distribution points because of the location of the plant. We produce here and store somewhere in Port Harcourt so that people who come from a far distance can get oxygen from these hubs.

 


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JAMB Accuses Student of Securing Admission through Identity Fraud

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Joint Admissions and Matriculation Board (JAMB) has accused a 2025 Unified Tertiary Matriculation Examination (UTME) candidate of manipulating his identity and engaging in online blackmail.

JAMB Accuses Student of Securing Admission through Identity Fraud

Fabian Benjamin, head of public affairs, JAMB, issued a statement on the matter on Thursday.

He said one Chinedu Okeke, currently a 400-level Medicine and Surgery student at the University of Nigeria, Nsukka (UNN), gained admission in 2021 while claiming to be from Amuwo-Odofin, Lagos state.

JAMB said Okeke’s national identification number (NIN) records from 2021 confirm his Lagos origin.

The board stated it does not alter candidate information provided through NIN.

The board, however, said the 400-level student, who is facing potential challenges for incorrect credentials, is now claiming that it retrieved the wrong details for him from the National Identity Management Commission (NIMC) in 2021.

“[This] is unequivocally false, aimed at fabricating a defence for his case,” Benjamin said.

“The evidence suggests that Chinedu altered his records as filled in 2021 before registering for the 2025 UTME, a fact confirmed by even his advocates.”

The board questioned why a 400-level medical student would seek to study mechanical engineering in 2025, especially with “inconsistencies in his claims.”

JAMB alleged that Okeke “took advantage” of Lagos state’s quota in 2021, thereby obstructing the admission opportunities for other deserving candidates from the state.

It added that he then “attempted to manipulate his details with the NIMC” to unjustly claim representation from Anambra state in 2025.

The board criticised “online advocates” for “actively reaching out to Chinedu’s parents to extract emotional narratives rather than factual clarifications, neglecting to seek information directly from the university.”

JAMB affirmed its commitment to maintaining accurate records and preventing candidates from exploiting loopholes.

It warned that if UNN confirms any inconsistencies, it would notify the Medical and Dental Council to consider delisting Okeke.

“When a nation trivialises illegalities, it breeds a future fraught with potential criminality,” Benjamin’s statement concluded.


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Check Point Report Finds Africa as Top Target for Cyber-attacks

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Africa has become the most targeted region globally for cyber-attacks in the first quarter of 2025, according to new research from Check Point Software Technologies. The company’s Q1 2025 Global Cyber Attack Report reveals a steep rise in malicious activity as the continent continues to accelerate its Digital transformation.

Ethiopia emerged as the most targeted country in Africa during the reporting period. FakeUpdates ranked as the most common malware, while 80% of malicious files across the continent were delivered via e-mail. In contrast, 62% of threats in SA were distributed via the web.

On average, organisations in Africa faced 3 325 cyber-attacks per week – a staggering 72% above the global average of 1 938 attacks per organisation.

Check Point Software unpacked the findings at a media roundtable in Johannesburg. Eli Smadja, global research group manager at Check Point, provided a detailed overview of Africa’s evolving cyber threat landscape, which he said is increasingly defined by AI-powered threats, ransomware, infostealers, edge device vulnerabilities and cloud-based risks.

Among the most concerning developments was the discovery of a previously undocumented multi-stage backdoor, dubbed Stealth Soldier, currently being deployed in cyber operations targeting North African government entities. The malware forms part of a broader command-and-control infrastructure used in spear-phishing campaigns.

Smadja noted a growing trend in malware designed to bypass AI detection systems.

“These aren’t aimed at advanced large language models (LLMs), but rather at lower-level ones,” he said. “It’s about LLM evasion – fooling the AI and manipulating prompts.”

Despite the increasing use of AI in cyber security, Smadja cautioned against over-reliance on AI-driven defence systems. “AI still requires human prompting.”

Check Point is advocating for a zero trust model and a holistic, automated and consolidated approach to cyber security. This includes centralised threat visibility and simplified controls to protect against ransomware, phishing, data theft and vulnerabilities at the edge.

“Just having something at the perimeter isn’t enough,” Smadja said. “Cyber-attacks are not just targeting PCs or servers anymore. For instance, we’ve seen state-sponsored attacks aimed at fuel pumps to disrupt national supply chains.”

He highlighted the importance of understanding external risk – threats originating outside the organisation – especially as AI-driven ransomware and attacks on third-party service providers continue to rise.

“Printers, for example, are a major attack vector,” he added. “They’re often network-connected, and threat actors can exploit them to gain broader access.”

Credentials, Smadja noted, are also a lucrative commodity on the dark web, often selling for around $500.

 


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