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E-Business

CAC Revokes NIPOST Subsidiaries’ Certificates

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The Corporate Affairs Commission (CAC) has revoked the certificates of incorporation of NIPOST Properties and Development Company and NIPOST Transport and Logistics Services Limited.

This revocation followed the discovery of an illegal transfer of N10 billion in restructuring funds released by the Federal Ministry of Finance to the agency’s subsidiaries.

The CAC, in a statement on Monday, said, “The General Public is hereby informed that the Commission, sequel to its powers contained in Section 41 (7) of the Companies and Allied Matters Act No. 3 of 2020, revoked the Certificates of incorporation of the below-mentioned companies because the same was improperly procured. These companies are:

“1. NIPOST Transport and Logistics Services Company Ltd RC 1673881 and 2. NIPOST Properties & Development Company Ltd RC 1673971.

“By virtue of these revocations, the Companies are deemed to be dissolved and their Assets and Liabilities transferred to the Nigeria Postal Services established under the Nigerian Postal Services Act Cap N127 LFN 2004.”

It was gathered that CAC records confirm that as of November 8, 2023, some top officials of BPE control significant shares in the subsidiaries.

Responding to these discoveries, the Senate passed a resolution on December 30, 2023, for a probe into the matter.

The resolution declared the NIPOST subsidiaries in question “irregular and illegal” and recommended their immediate winding-up and deregistration.

The Senate resolution goes beyond immediate action; it demanded a thorough investigation into the N10 billion voted by the Ministry of Finance for NIPOST’s restructuring and recapitalisation.

Should evidence of “injudicious utilisation” surface, the Senate said the committee responsible must recover the full amount.

In its resolution of December 30, 2023, the Red Chamber said it uncovered an alleged illegal transfer of Federal Government shares in two NIPOST subsidiaries to private individuals.

The discovered infractions sparked outrage, prompting the lawmakers to call for immediate action.

Some individuals in key positions within the Bureau of Public Enterprises (BPE) and NIPOST were listed as shareholders of the two NIPOST subsidiaries.

 


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E-Business

Nigeria Strengthens Cybersecurity, Launches National Cleanup Plan

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Nigerian government, through the Office of the National Security Adviser (ONSA) and the National Information Technology Development Agency (NITDA), has announced a strategic collaboration to strengthen cybersecurity and clean up the nation’s cyberspace.

Nigeria Strengthens Cybersecurity, Launches National Cleanup Plan

Recognizing that cybercrime knows no borders, Nigeria also reaffirmed its commitment to fostering stronger global partnerships within the cybersecurity ecosystem.

This announcement was made during a press conference before the inaugural National Cybersecurity Conference, which is scheduled to take place in Abuja from July 9th to 11th, 2025.

Sa’ad Abubakar, national cybersecurity coordinator from the Office of National Security Advisor, said fighting cybercrime must take the whole of society and the whole of the government approach.

According to him, “Apart from the deterrent approach whereby government agencies such as Economic and Financial Crimes Commission (EFCC) arrest individuals, take them to court and prosecute them, the youth can be nurtured into better citizens who can showcase their capacity in better ways and be useful to the country.”

Similarly, Kashifu Abdullahi, director-general, NITDA,  also stressed the need for collaborative efforts in fighting cybercrimes.

According to him “Then, in addition to that, we also want to build a stronger global collaboration with the global cyber security ecosystem, because when you look at cybercrime in general, it doesn’t respect the borders.

“Someone can commit a crime from Ghana using a Nigerian ID in the US. So you can look at him physically in a different jurisdiction, pretending to be in another jurisdiction, committing the crime in another jurisdiction.

“So without that kind of synergy and working together, it will be difficult to address these challenges. The third one is challenge. The third one is getting an alternative to cybercrime for our kids in Nigeria. We have this as a major challenge.”

Inuwa further highlighted the upcoming conference’s importance, noting that it would tackle key issues through workshops, discussions on emerging threats, cross-border cybersecurity collaboration strategies, and training programmes.

He also announced that the National Cybersecurity Conference 2025 would feature the Cybersecurity Excellence Awards, recognising top contributions in the field.

The DG extended an invitation to global partners to collaborate with Nigeria in building a safer digital future.

The press conference was attended by notable figures, including Ahmad Sa’ad Abubakar, National Coordinator of, the National Cybersecurity Coordination Centre (NCCC); Hanniel Jafar, Representative of the President, of Cyber Security Experts Association of Nigeria (CSEAN); Ankit Shukla, Managing Director, QNA Marketing Management LLC and members of the press and other stakeholders.


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AXIAN Telecom Invests in Jumia Post-MTN Era

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XIAN Telecom has acquired an 8% stake in pan-African e-commerce company Jumia Technologies, citing the platform’s fintech and logistics strengths as key drivers of its backing.

This marks the first major telecom investment in Jumia since MTN Group’s exit in 2020.

AXIAN, a fast-growing telecom and digital services provider with operations across Africa, disclosed the purchase in a Schedule 13D filing with the U.S. Securities and Exchange Commission.

While the financial terms were not disclosed, AXIAN Telecom CEO, Hassan Jaber, described the move as a strategic alignment with Jumia’s growth trajectory and digital ecosystem.

“Jumia’s achievements in digital retail and fintech, particularly through JumiaPay and its logistics network, make it a very attractive investment for us. We believe in Jumia’s potential to promote financial and economic inclusion, which aligns with our core values,” said Jaber.

Once dubbed the “Amazon of Africa,” Jumia became the first African-founded tech company to list on the New York Stock Exchange in 2019.

But years of underperformance, leadership changes, and competitive pressures dented investor confidence.

In October 2020, South Africa’s MTN Group offloaded its 18.9% stake for $138 million, well below the $698 million value it once held post-IPO.

Since then, Jumia has undergone a significant transformation. Under CEO Francis Dufay, appointed in 2022, the company exited low-performing markets like South Africa and Tunisia, cut costs, and doubled down on core markets – Nigeria, Kenya, Egypt, and Morocco.

The firm is now focused on high-growth verticals, including everyday essentials and digital financial services.

Jumia’s regional CEO for East Africa, Vinod Goel, recently revealed plans to scale up international brand offerings and open its logistics network to third-party businesses.

Jaber underscored that AXIAN Telecom’s investment signals renewed confidence in Jumia’s long-term potential.

The telecom firm’s CEO said the company views Jumia as a key player in advancing Africa’s digital economy, aligning with AXIAN’s mission through its fintech and digital infrastructure brands such as Yas and Mixx by Yas.

 


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NIMC Plans to Register 95 Percent Nigerians by December

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Abisoye Coker-Odusote, director general, National Identity management commission (NIMC) has said that the commission is set to register 95 percent of Nigerians into the National Identity Database before December 2025.

NIMC Plans to Register 95 Percent Nigerians by December

Abisoye Coker-Odusote,, DG, NIMC

She made this statement at a press briefing to highlight the commissions goal aligns with President Bola Tinubu’s Renewed Hope Agenda, particularly on digital governance and inclusive development.

The mass enrollment drive will be powered by a combination of improved infrastructure, expanded registration centres, and robust public sensitization campaigns.

As of May 2025, NIMC reports over 120 million Nigerians have been enrolled, and about 100 million more would be captured by December.


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