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FBN Insurance Rebrands to Sanlam Life Insurance

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Following the completion of all regulatory procedures, FBN insurance Limited has been officially renamed to Sanlam Life Insurance Limited. The deal was finalised after Sanlam acquisition of controlling shares in the former FBN insurance Limited.

With this new development, Sanlam Life Insurance is positioned to deliver a robust and excellent products and services to clients through direct contact with the Sanlam brand

At an official launch held yesterday at Eko hotel and Suites, Victoria Island, Lagos, the  top executives of the two firms were optimistic about new opportunities for clients, noting that the rebranding further supports Sanlam’s efforts to enhance its presence across Africa as well as its ongoing investment in the continent.

The rebranding will apply to the life and general insurance businesses, Sanlam Life Insurance Nigeria Limited and Sanlam General Insurance Nigeria Limited, respectively.

Speaking at the event, Sanlam Pan Africa (SPA) Life Insurance Cluster CEO Robert Dommisse highlighted Sanlam’s commitment to Nigeria, and the importance of West Africa market to Sanlam. SPA is the division in Sanlam Emerging Markets, which encompasses Sanlam Group’s businesses in Africa and other emerging markets such as India and Malaysia.

“Nigeria has always been one of the most important markets for the Sanlam Group because the country is such a key economy on the African continent. It has always been imperative that Sanlam has a strong presence and operation in Nigeria.

We have a good business in the Nigerian market, and we are going to continue invest and grow the operation. It is important for us that we do so under the Sanlam brand so that the existing and potential customers know that they will be getting the full support of the promises we make in the market, Mr. Dommisse said.

“We’re very excited about the introduction of the Sanlam brand in Nigeria and we believe it’s a great moment in time for us to step forward to show our brand across an array of touch points and have our diverse stakeholders interact positively with the brand in the Nigeria market,” Mr. Dommisse added.

Also, Mr Tunde Mimiko, the Managing Director and Chief Executive Officer, Sanlam Life Insurance Nigeria Limited,  said, “We look forward to the next exciting chapter of the business under the banner of the Sanlam brand which is committed to continuously promoting consumer access and inclusion in financial services across the African continent.

The introduction of the Sanlam brand is a milestone development for Nigeria. Through our innovative brand offering, we look forward to delivering services that empower generations of Nigerians to be financially secure, confident, and prosperous.”

While, Mr Bode Opadokun Managing Director and Chief Executive Officer, Sanlam General Insurance Nigeria Limited said, “We have continually evolved our business and our products to add value to many lives. As we step into another exciting phase of our journey, we look forward to delivering services through the compelling brand of Africa’s leading non-banking financial services organization, Sanlam, both in the Nigerian market and West African region.”

Sanlam Life Insurance Nigeria Limited is a Limited Liability Company licensed to transact Life Insurance business in Nigeria, providing cover for Individual and corporate clients with strong presence in almost every state in the country.

Sanlam Life Insurance is owned by the Sanlam Group, a leading diversified, pan-African financial services group. Leveraging the strength of the Sanlam Group brand, Sanlam Life Insurance is strategically positioned to transform the insurance industry in Nigeria.

The company has won several awards including, Best Life Insurance Company in Nigeria by World Finance 2014, 2016, 2017, 2019 & 2020; Best Insurance Company in Africa by the African Insurance Awards, 2018; Fastest Growing Insurance Company by the National Association of Insurance and Pension Correspondents, 2018; Augusto & Co. A+ rating in 2016 & 2018 and Certified as a Great Place to Work, Medium-Sized Organization 2019.

Sanlam is a pan-African financial services group listed on the Johannesburg, Namibian and A2X stock exchanges. Through its clusters: Life and Savings encompassing Retail Mass, Retail Affluent and Corporate business units; Sanlam Emerging Markets; Sanlam Investment Group; and Santam, the Group provides comprehensive and bespoke financial solutions to institutional clients and consumers across all market segments. Sanlam’s areas of expertise include life and general insurance, financial planning, retirement, investments, and wealth management.

Established in 1918 as a life insurance company, Sanlam has evolved into the largest non-banking financial services group in Africa through its diversification strategy.

Headquartered in South Africa, Sanlam has a direct stake in financial services entities in Namibia, Botswana, Swaziland, Zimbabwe, Mozambique, Mauritius, Malawi, Zambia, Tanzania, Rwanda, Uganda, Kenya, and Nigeria. The Group has a footprint of insurance operations in Morocco, Angola, Algeria, Tunisia, Ghana, Niger, Mali, Senegal, Guinea, Burkina Faso, Cote D’Ivoire, Togo, Benin, Cameroon, Gabon, Republic of the Congo, Madagascar, Burundi, and Lesotho.

Sanlam also has insurance business interests in India, Malaysia and the United Kingdom and has business interests in the USA, Australia, the Philippines, and Lebanon.


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HCSF Describes Galaxy Backbone as a Strategic Partner in Civil Service Digitalization Reforms

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In a significant move towards accelerating the Federal Government’s digital transformation agenda, the Head of the Civil Service of the Federation (HCSF), Mrs. Didi Esther Walson-Jack, paid a strategic working visit to Galaxy Backbone (GBB) Limited, Nigeria’s foremost ICT infrastructure and shared services provider.

The visit, which took place at GBB’s National Shared Services Centre (NSSC) and Corporate Headquarters in Abuja, forms part of the HCSF’s efforts to deepen collaboration and assess the technological infrastructure supporting the government’s ongoing digitalisation reforms across Ministries, Departments, and Agencies (MDAs).

Accompanied by the Permanent Secretary of the Federal Ministry of Communications, Innovation and Digital Economy (FMCIDE), Mr. Adeladan Rafi’u Olarinre, and a delegation of Permanent Secretaries and Directors from the Office of the Head of the Civil Service, the visit featured an extensive tour of GBB’s cutting-edge Digital Infrastructure facilities. These included its Network Operations Centre (NOC), Security Operations Centre (SOC), and Uptime Institute Certified Tier III Data Centre; all built to ensure a secure, scalable, and sovereign digital infrastructure for Nigeria’s public sector.

In his welcome address, Mr. Adeladan Rafi’u Olarinre described Galaxy Backbone as a critical institution under the supervision of FMCIDE, tasked with providing the nation’s core digital infrastructure and shared ICT services. “Today’s visit is an important opportunity to showcase the significant progress GBB has made in building the infrastructure necessary for a truly digital government,” he said.

“I believe this engagement will foster stronger alignment and collaboration between MDAs and GBB as we move towards a more connected and efficient public service.”

The Managing Director/CEO of Galaxy Backbone, Professor Ibrahim A. Adeyanju, expressed appreciation for the visit, noting its alignment with GBB’s mandate to support Nigeria’s digital transformation goals.

“A visit of this nature by the Head of the Civil Service is highly symbolic,” he remarked. “It reinforces the central role that the Civil Service plays in national development and highlights the importance of strategic ICT infrastructure in driving effective governance.”

He went on to emphasize that GBB’s mission to design, build, and manage Nigeria’s digital infrastructure aligns seamlessly with the Civil Service’s digital reform agenda.

“Our platforms; including the 1Government Cloud, GovMail, and our extensive fibre optic network present in 28 states, are designed to support a digitally enabled, secure, and efficient government,” Prof. Adeyanju added.

He also called for greater collaboration with the Office of the Head of Service to drive the adoption of GBB’s infrastructure, particularly the fibre optic connectivity already terminated at Federal Secretariat buildings across 28 states of the country. He further appealed for support in expanding Local Area Networks (LANs) in the Federal Capital Territory (FCT) secretariat buildings to integrate more MDAs into the digital ecosystem.

In her remarks, Mrs. Walson-Jack commended the world-class infrastructure and strategic digital solutions developed by Galaxy Backbone, stating that her perception of the agency had been greatly enhanced following the tour.

“This visit has opened my eyes to the enormous potential and capacity that Galaxy Backbone brings to Nigeria’s digital journey,” she said. “I now see GBB not just as an ICT agency, but as a strategic partner in the realisation of our dream to build a modern, agile, and paperless civil service.”

She specifically praised GBB’s support for the “War Room” initiative, the widespread deployment of GovMail — currently serving over 34,000 civil servants, and the agency’s high-speed fibre connectivity provided during the 2025 International Civil Service Week hosted by her office.

Reaffirming her office’s commitment to achieving a fully paperless civil service by December 31, 2025, the Head of Service expressed optimism that this goal is attainable with stronger collaboration and technical support from GBB.

She also highlighted several strategic areas where partnership with GBB is critical, including:

  • Full implementation of the 1Government Cloud to host and manage MDA operations.
  • Adoption of an Enterprise Content Management System (ECMS) to streamline records and workflow automation across MDAs.
  • Synergy between the 1Government Cloud Academy and the Civil Service Academy to enhance capacity development.
  • Training and onboarding of civil servants on innovative tools such as Service-Wise GPT – Nigeria’s AI-powered platform designed to transform public service delivery.

Mr. Mohammed Ibrahim Sani, Executive Director of Finance and Corporate Services at GBB, in his vote of thanks, expressed deep gratitude to the Head of Service and her delegation for taking the time to visit and engage with the team. He reiterated GBB’s unwavering commitment to partnering with all stakeholders to deliver inclusive, resilient, and forward-looking digital solutions for the Federal Government.

 


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Festive Seasons Trigger 400% Spike in Livestock Prices Across Nigeria’s North East — Moniepoint Study

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A new study by Moniepoint Inc., Africa’s leading financial technology company, has revealed that livestock prices in Nigeria’s North East markets surge by up to 400% during festive seasons, driven by high demand from cities like Lagos, Port Harcourt, and Onitsha.

The report, which focuses on informal market dynamics in Borno State, shows that traders at Kasuwan Shanu in Gamboru dispatch an average of 50 trucks daily during peak periods such as Eid al-Adha and Christmas, with goat prices rising by 400–470% and rams by over 230%.

Beyond seasonal spikes, the study highlights a shift toward investment-minded trading, where livestock is raised in advance to boost resale value. This approach is helping traders build more stable and profitable businesses, despite the region’s history of conflict and economic volatility.

Key findings include:

  • 51.2% of traders source goods from Maiduguri, reinforcing its role in Nigeria’s food supply chain
  • 45% of traders now accept digital payments, with mobile transfers and POS usage rising sharply since the 2023 cash crunch
  • Informal credit and trust-based transactions remain dominant, often conducted via phone calls and voice notes, without formal contracts

Moniepoint CEO Tosin Eniolorunda said the company’s tools are helping bridge long-standing gaps in access to finance: “This shift isn’t just tech-enabled — it’s structurally impactful. We’re helping build an economy where everyone can participate.”

The study joins Moniepoint’s growing portfolio of thought leadership on Nigeria’s informal economy, following previous reports on Onitsha Market, community pharmacies, and women-owned businesses.


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FG Eyes 8,000MW Power Boost in 18 Months with Grid Overhaul

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Federal Government has expressed optimism that improved management of the national power grid by the Nigerian Independent System Operator (NISO) could increase electricity supply to 8,000 megawatts within the next 12 to 18 months.

Speaking at a leadership retreat to onboard NISO’s top management in Abuja, the Director General of the Bureau of Public Enterprises (BPE), Mr. Ayodeji Gbeleyi, noted that although Nigeria’s installed generation capacity exceeds 14,000MW, actual daily output has hovered around 5,500MW.

Gbeleyi emphasized that with more efficient grid operations and increased investments in transmission and distribution infrastructure, the power sector is poised for substantial improvement.

“As an independent entity, NISO now carries the critical responsibility of managing the national grid with impartiality and integrity. It must ensure non-discriminatory access, efficient dispatch coordination, and fair market settlements—free from undue influence or conflicts of interest.

“Currently, about 5,500MW of power is being wheeled daily, compared to a nameplate generation capacity of over 14,000MW. With the right investments and enhanced grid resilience, it is realistic to project a 50% increase in supply within 12 to 18 months,” he said.

Gbeleyi also revealed that the Federal Government has secured a $500 million loan from the World Bank to support the upgrade of the distribution infrastructure. Under this initiative, 3.2 million electricity meters will be deployed across Nigeria, with an additional 2 to 3 million meters to be provided through a separate presidential initiative.

Chairman of the NISO Board, Dr. Adesegun Akin-Olugbade, stressed the significance of NISO’s independence following its unbundling from the Transmission Company of Nigeria (TCN).

“NISO is not just a new institution; it represents a new approach—an independent system operator, a neutral market coordinator, and a strategic planning authority. Our responsibilities span real-time grid operations, long-term system planning, and the development of the electricity market.

“These are not peripheral tasks—they are core to national stability. When power fails, everything else suffers: industry, healthcare, education, even security,” he said.

Also speaking, NISO Managing Director/CEO, Engr. Abdu Bello, affirmed that the 8,000MW target is achievable within the projected timeframe.

“We must stay focused, get our internal structures right, and attract private sector investment. This retreat is part of the strategic planning process. With a clear direction and commitment, the goal is within reach,” Bello stated.


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