News
Coca-Cola Foundation Empowers Over 4,600 Women in Five Months

A women empowerment and capacity building program sponsored by The Coca-Cola Foundation in partnership with Karis and Eleos Hand of Hope Foundation, tagged, “Catalyst for Change” has come to an end having impacted over 4,600 women in Lagos and Ogun states.
The initiative wrapped up with its final graduation ceremony held on Wednesday, December 23, 2020, at Iwaya, Lagos.
Positioned to alleviate women from financial instability due to the attendant effects of the pandemic, the training included courses in wig making, make-up artistry, fashion designing, household essentials, shoe making, social media presence and business development amongst others.
The training was held across five communities namely Iwaya, Oworonshoki, Sangotedo, Magboro and Ogijo, with 1,000 of these women receiving startup kits, upon completion of the training, to help set up their small-scale businesses.
The last two communities, Oworonshoki and Iwaya, had a total of 2,000 women trained in the months of November and December.
Speaking on the program, Mabel Odunayo Fagun, the Valedictorian from Oworonshoki said, “With what we have learnt, we need to show the world the skills attained, and the impact The Coca-Cola Foundation has made in our lives”.
Also, Prince Babatunde Saliu of Oworoshoki expressed his satisfaction with the community-centred initiative saying, “We are very appreciative of Coca-Cola for the one thousand women who were trained, as employment has been created for our people.
“As we have seen, with more employment of our people comes peace in the Oworonshoki community.
“We pledge to continue the great work which has been started by The Coca-Cola Foundation”.
At the final closing ceremony held at Iwaya, emotions were high as the Iwaya women rent the air with cheerful chants of “Coca-Cola”.
Asegun Bamidele, a Valedictorian and beneficiary from the Iwaya community explained, “Just like the popular saying, there is no tool for development more than the empowerment of a woman.
We are so thankful to Coca-Cola for this program to enhance the standard of living in our community”.
The graduation ceremony was a sight to behold as the graduates celebrated amidst the serenading violins playing tunes to traditional dancers who graced the stage. The program is proof that the empowerment and autonomy of women is directly linked to the improvement of their economic status.
Speaking at the event, the Public Affairs, Communications and Sustainability Manager at Coca-Cola Nigeria Limited, Nwamaka Onyemelukwe, explained “Across the world, women are faced with significant challenges that impact them economically in terms of livelihood and well-being.
“This program seeks to empower women and girls across the rural demographic with the relevant skills and support that will improve their access to a more secure future.
“In 2021, follow-ups will be done across all five communities to ensure these women are making progress and enhancing the society effectively”.
During the ceremony, Akinrogun of Iwaya Land, Chief Engr. Balance Akinyemi added, “I encourage all program beneficiaries to use the knowledge acquired to continue to build their businesses and explore opportunities in our local markets”.
Present at the closing ceremony were Women Leader, Honorable Mrs Akerele; Akinrogun of Iwaya Land, Chief Engr. Balance Akinyemi; Head, Public Affairs, Communications and Sustainability, Coca-Cola Nigeria Limited, Nwamaka Onyemelukwe; and Head, Sustainability, Coca-Cola West Africa, Uche Ogbonna.
For Coca-Cola, women empowerment and bridging the gap of opportunities are essential for achieving an inclusive and sustainable society positioned for economic growth.
The funding of the Catalyst for Change program by The Coca-Cola Foundation will help Coca-Cola achieve its “5by20” mandate to empower five million women economically where over 4.6 million women have been positively impacted in 2019.
Since 1984, The Coca-Cola Company has contributed more than $1 billion to help empower women, protect the environment, and enhance communities, socially and economically, around the world.
News
NIA Questions Legality of Reps’ Financial Probe

The Nigerian Insurers Association has urged the House Committee on Capital Market and Institutions to respect the constitutional separation of powers as it carries out a probe on over 20 insurance firms.
In a statement on Tuesday night, the Director General/Chief Executive Officer of NIA, Mrs Bola Odukale, said the decision of NIA and the affected firms to approach the court was to seek clarity on the constitutional limits of the House Committee’s probe.
It would be recalled that the House of Representatives on Monday is investigating no fewer than 25 insurance companies operating in the country for various financial infractions spanning financial reporting, claims settlement, premium remittance, and issuance of policies.
The Chairman, House Sub-Committee on Capital Market and Institutions, Kwamoti Laori, during a meeting with the management of the insurance companies at the National Assembly Complex in Abuja, said the meeting was convened following the receipt of a petition on infractions by the insurance companies.
In the statement, Odukale said, “The Association wishes to state unequivocally that all actions taken by the NIA and the affected member companies in response to the Committee’s invitations and pronouncements were based entirely on legal advice by its Solicitors. It was on the firm instruction of legal counsel that recourse was made to the courts.
“The objective of approaching the Court is to seek judicial guidance on the legality, propriety, and constitutional limits of the Committee’s intervention in order to safeguard institutional integrity, uphold regulatory independence, and ensure that legislative oversight remains within the bounds of law.
“The Court action seeks to determine whether the current posture of the Committee reflects an exercise of legislative judgment, which, by constitutional design, is the exclusive province of statutory regulators, such as the National Insurance Commission, Securities and Exchange Commission, Nigerian Exchange, Financial Reporting Council, Nigeria Data Protection Commission, and the National Information Technology Development Agency.
“This raises serious questions about legislative overreach and an erosion of the doctrine of separation of powers, a cornerstone of Nigeria’s constitutional democracy.”
Odukale maintained that the NIA was committed to lawful and constructive engagement with all arms of government, provided that such engagement respects the autonomy of statutory regulators and the boundaries established by the Constitution.
“The NIA will continue to provide its full support to all member companies while upholding the principles of legal compliance and sector-wide integrity,” Odukale concluded.
17 of the companies that went to court were represented by their lawyer, Mr Abimbola Kayode, at the meeting with the committee.
News
Horn of Africa Leaders Seek Enhanced Digital Integration for Increased Regional Growth

Finance ministers and development partners from the Horn of Africa have called for enhanced digital integration to boost trade, drive economic growth and promote regional stability during the 25th Ministerial Meeting of the Horn of Africa Initiative (HoAI).
Held in Nairobi, on July 14, the meeting was co-chaired by the African Development Bank’s Vice President for Regional Development, Integration and Business Delivery, Nnenna Nwabufo and Somalia’s Minister of Finance, Bihi Iman Egeh. Discussions underscored the critical role of digital integration in reducing trade barriers, boosting government service delivery and creating employment — particularly for the region’s youth.
“Digital technologies are shaping today’s economy and tomorrow’s industries. By embedding these technologies into our programs, we can not only improve inclusion but also leapfrog outdated development models,” said Nwabufo.
She called for digital integration a “central enabler” in each of the Horn of Africa Initiative’s pillars – trade, infrastructure, resilience, and human capital,
Learning through experience
Drawing from global and regional success stories, speakers highlighted the transformative potential of technology-led development. The ministers pointed to the Philippines as a strong example, where ICT has generated millions of jobs in business process outsourcing. Similarly, Kenya’s fintech innovation—especially the success of M-PESA—was cited as a model for scaling digital financial services across the region.
Participants urged governments to proactively foster digital ecosystems by capitalizing on the demographic dividend, identifying infrastructure upgrades, tighter regulatory reforms, and digital skills trainings as priorities to enable broader participation in the digital economy.
Minister Egeh reiterated the need for more coordinated regional efforts to create the enabling environment required for accelerated digital integration and expansion. He referenced the HoAI Digital Policy Matrix, adopted in 2023 which provides a blueprint on how to address key obstacles to achieving effective digital integration across the region.
Barack Makokha, Kenya’s Cabinet Secretary for National Treasury, underscored the importance of regionally-aligned public private partnerships and advocated for blended financing to reduce investment risk and expand digital access in underserved areas.
World Bank Vice President for Eastern and Southern Africa, Ndiame Diop, called for a comprehensive multi-pronged approach, combining cross-border coordination, large-scale financing, robust policy support, and digital infrastructure investments. He pointed out that such measures could transform digital integration into, “a powerful engine of economic transformation” for the Horn of Africa—ensuring no one is left behind in the digital era.
The meeting concluded with a shared recognition that sustained political will and the determination to implement a multifaceted approach are essential to unlocking the region’s economic potential and driving long-term growth.
The event also welcomed observers from the East African Community, Agence française de développement, and Shelter Afrique, reflecting strong regional and international backing for the HoAI in the development community.
News
CSCS Inaugurates Custodian Portal to Enhance Digital Access, Operational Efficiency

Central Securities Clearing System Plc (CSCS), Nigeria’s capital market infrastructure provider, has launched its Custodian Portal, a user-centric digital solution designed to optimise custodian operations through intuitive, secure and efficient features.
Haruna Jalo-Waziri, Chief Executive Officer (CEO), CSCS, announced this in a statement on Monday.
The CSCS is a Public Limited Company with a diversified shareholder base, which serves as the Central Securities Depository for the Nigerian Capital Market.
It serves as the Central Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds like the FGN Sukuk and the FGN Savings Bond, Equity-traded Funds, Real Estate Investment Trusts, Mutual funds and Commodities.
Jalo-Waziri said that the custodian portal offered a streamlined experience for market participants with powerful tools that facilitate comprehensive portfolio and trade management, document tracking, share transfer operations, client symbol search, and real-time access to vital data.
He explained that the portal, designed to operate through a flexible subscription-based model, empowered users to manage their records effortlessly and securely through convenient payment channels such as GTPay and Paystack.
According to him, “Digital transformation remains at the core of our strategy to enhance the efficiency, transparency and accessibility of Nigeria’s capital market services.
“The custodian portal is a significant leap in that direction, offering custodians a centralised platform to manage critical processes in real-time.
“We are excited about the value this innovation brings to our stakeholders, and we will continue to evolve the platform in line with users’ needs and industry trends.”
The CEO also explained that the portal was designed with user experience in mind with feature tools like portfolio viewing and downloads in PDF or Excel format.
He further said that it also featured tracking of stock movements across date ranges, inbox messaging and request tracking, as well as robust user management capabilities including role assignment and status tracking.
Similarly, the Divisional Head, Business Technology and Digital Innovation, CSCS Plc, Tobe Nnadozie, said that the portal aligned with CSCS’s drive to automate the market.
“In addition to the normal features, the platform is a part of an omnichannel platform for custodians, and includes API services.
“It also connects to the market-wide workflow, which CSCS has built to ensure secured communication and approvals across all major stakeholders in the market.
“The platform is well secured with best-of-breed cybersecurity solutions and our SOC,” he said.
The Custodian Portal reinforces CSCS’s commitment to leveraging technology to streamline back-office functions and support a more agile, data-driven capital market ecosystem.
All custodians in the Nigerian capital market have now been successfully on-boarded on the Custodian Portal, marking a significant milestone in CSCS’s ongoing drive to enhance collaboration, standardise operational processes, and promote digital adoption across the market.
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