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NGX to Launch USSD Integrated Payment System

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Mr. Temi Popoola, the chief executive officer, Nigerian Exchange Limited (NGX), has disclosed the Exchange plan to launch an Unstructured Supplementary Service Data (USSD) to unlock Africa’s capital markets payment system through collaboration with telecommunication companies and banks.

Speaking at a virtual event with theme: the 2022 Market Recap and 2023 Outlook, Popoola said the adoption of USSD will further simplify the continent’s capital markets through integration with Afreximbank’s Pan African payment settlement system.

He added that the Exchange is targeting the development of new products aimed at attracting the lower rung of the Nigerian demography.

According to him, “NGX is also focused on increasing youth participation with the creation of digital asset products powered by Blockchain technology, non-depository receipts and overall increasing the pool of available liquidity in the market.

“On strategic partnerships, we will be forging more with development finance institutions, and banks, both local and international to further develop the market. We aim to do more on trading where we improve data dissemination to attract a more extensive investor base, especially from the retail side.

“We will be using listings as a vehicle for meeting strategic aspirations as the new dispensation come in through increased advocacy and engagements.

“NGX sees sustainability as not just important but also a profitable frontier of its business. Work is ongoing on developing a framework for certifications in carbon credits trading, pending regulatory approval.

“Altogether, 2023 is likely to be a new dawn for the market and the Nigerian economy as significant events take shape in the macroeconomic and political environments.”

On the 2022 market recap, he noted that the bullish run witnessed in the year might have been partly induced by the N4.3trillion in listings recorded by NGX across equities and fixed-income markets.

He added that the raising of N2.54trillion of bond listings for the Federal Government of Nigeria, as well as equity listings totaling N1.35trillion from companies such as BUA Foods Plc and Geregu Power Plc had a significant impact on the overall market performance.

The NGX boss emphasised that the value of the listings showed the local bourse’s commitment to positioning itself as a premier location for raising capital and its ability to facilitate a wide range of transactions and attract a diverse range of businesses demonstrated its position as a leader in financial market innovation and progress on the African continent.

According to Popoola, NGX would take a flexible approach to strategy execution in 2023, doubling down on its 2022 achievements and expanding on several levers.

“As you know, the NGX Technology Board Listing Rules were approved by the apex regulator, the Securities and Exchange Commission in December 2022.

“With this, we aim to drive more technology companies to the Exchange and deepen capital formation in the technology sector. We are currently in consultations with stakeholders in the sector and are confident of securing a few big names within the year.”

He said further that “In 2022, the equities market performance was evidenced by the 19.98 per cent increase in the NGX All-Share Index, which rose from 40270.72 to 51,251.06 just as the market capitalisation also closed at a high of N27.92trillion, up from N21.06trillion the previous year. The total turnover of trades in 2022 improved by 27per cent from N916bn to N1.16trillion year-on-year from 2021.

“Market participation was heavily skewed to the domestic investors. The Fixed Income market saw a slight uptick in turnover to N3.89billion in 2022 from N3.53billion recorded in 2021. This represents a 10.20per cent YoY increase.

“The Exchange Traded Funds market capitalisation increased from N7.35billion in 2021 to N8.42billion in 2022, representing a 14.56 per cent increase in the market capitalisation. Stanbic IBTC ETF 30 which tracks the performance of NGX 30 index was the best performing ETF in 2022, having began the year at N68.5 and closed at N245, reflective of 257.66 per cent  returns. ETF transactions fell from N34.22billion in 2021 to N211.02million in 2022. This represents a 99.38 per cent decline in ETF turnover”.

“Altogether, this signalled a good year for the Exchange despite global macroeconomic headwinds.”


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NITDA, RHI, Commission IT Community Centre in Ibadan

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L-r: Kashifu Inuwa CCIE, DG, NITDA; Wife of Oyo State Governor Engr (Mrs) Tamunominini Makinde; Oyo State Governor, Engr. Oluseyi Makinde; Sen. Oluremi Tinubu, First Lady Federal Republic of Nigeria; Dr Bosun Tijani, HM, Communications, Innovation and Digital Economy; former Minister of Trade, Chief (Mrs) Onikepo Akande and Ooni of Ife, Oba Adeyeye Enitan Ogunwusi.
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The National Information Technology Development Agency (NITDA), in partnership with the Renewed Hope Initiative (RHI), has officially commissioned a state-of-the-art IT Community Centre in Ibadan, Oyo State, as part of ongoing efforts to bridge the digital divide and empower youth and women across the state.

The centre, which was donated to Oladipo Alayande School of Science in Oke-Bola, Ibadan, Oyo State, was named in honour of Mrs. Onikepo Akande, a distinguished daughter of Oyo State, and is aimed at providing digital skills training, particularly for women and young people. It is expected to offer participants a competitive edge in the evolving global tech industry.

Her Excellency, the First Lady of the Federal Republic of Nigeria, Senator Oluremi Tinubu CON OON, delivered special remarks at the event, emphasising the centre’s role in achieving one of President Bola Ahmed Tinubu’s key priority areas which is to accelerate economic diversification through digitisation, industrialisation, innovation, and the creative arts.

She disclosed that the commissioning of the centre is a step forward in the collective mission to empower Nigerians, especially women and youth, with the skills needed to thrive in a digital economy.

“We are not stopping here. I am pleased to announce that ten more IT Centres will soon be commissioned across various states,” she added.

While noting that other digital economy centres have been fully equipped with computers and ICT materials in 5 other states, she urged members of the community to take full ownership of the centre.

She said, “The success of this centre depends on your active participation and utilisation of available resources.”

The Oyo State Governor, Engr. Oluseyi Makinde, who delivered a goodwill message during the event, praised NITDA and RHI for bringing the initiative to the state.

He highlighted the high standards of the facility and pledged the state government’s support to ensure its sustainability and maximum impact on the people of Oyo State.

“Information Technology, Artificial Intelligence, that is the road to the future, and I am glad that under the Renewed Hope Initiative, you’ve brought this to Oyo State, and I can give you the assurance that we will take full advantage of it,” he promised.

In his remark, the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani stated that the centre will serve as an avenue for youths to acquire globally relevant digital skills, build startups and create solutions that can compete on the global stage.

While giving his welcome remarks earlier, the DG NITDA, Kashifu Inuwa, described the collaboration with the Renewed Hope Initiative as a strategic intervention to boost Nigeria’s digital talent pool.

He explained that the Ibadan IT Community Centre is equipped with cutting-edge technologies designed to provide a smart and personalised learning experience and lauded Senator Tinubu for her leadership and passion for empowering underrepresented groups.

“Your Excellency’s vision and commitment have been instrumental in actualising this initiative. You are giving Nigerians the tools to unlock their potential in the digital economy,” he said.

Noting that the newly commissioned centre is part of a broader national agenda to enhance digital literacy, reduce unemployment, and foster innovation-driven development across the country, Inuwa disclosed that the agency has worked with the Ministry of Education to develop digital literacy and skills curriculum that will be infused as part of the formal education in schools.

While encouraging the school administrators and community leaders to ensure its accessibility and sustainability, the NITDA DG said, “The centre is open to all, and we want to see a cross-pollination between the school and the community.”

 


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Nigeria Reports 832 Lassa Fever and Mpox Cases, Death Toll Hits 135

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Nigeria Centre for Disease Control and Prevention (NCDC) has confirmed the country has recorded 832 confirmed cases of Lassa fever and Mpox.

Speaking during a press briefing on Friday in Abuja, the agency’s Director General, Dr. Jide Idris, revealed that 132 fatalities were recorded from Lassa fever and three from Mpox.

While acknowledging a recent decline in Lassa fever infections during epidemiological week 16 (ending April 20, 2025), he warned that the overall risk remains high, particularly in endemic regions.

“Cumulatively, as of week 16, Nigeria has reported 4,253 suspected cases of Lassa fever, 696 confirmed cases, and 132 deaths, resulting in a case fatality rate of 19.0 percent,” he stated.

Dr. Idris attributed recent improvements to intensified surveillance, treatment efforts, and enhanced community engagement. He emphasized, however, the continued need for vigilance and collaboration to sustain progress.

Regarding Mpox, the NCDC boss disclosed that three deaths have been recorded in 2025—two in Abia and Ebonyi States in week 10, and one recently in Rivers State involving a patient co-infected with HIV and tuberculosis.

As of week 16, 723 suspected cases and 136 laboratory-confirmed cases of Mpox have been reported across 35 states and the Federal Capital Territory (FCT). The national case fatality rate currently stands at 2.2 per cent.

“The epidemic curve reveals multiple peaks in Mpox cases, indicating ongoing transmission. While most states have reported suspected cases, confirmed infections are heavily concentrated in Nigeria’s southern and central regions,” Dr. Idris noted.

To address these outbreaks, the NCDC has activated its Emergency Operations Centre (EOC), deployed National Rapid Response Teams to affected states, and prepositioned essential medical supplies, including personal protective equipment and laboratory consumables. Five additional Mpox diagnostic laboratories have also been optimized in Bauchi, Kano, Cross River, Rivers, and Enugu States.

“Healthcare workers are undergoing specialized training in infection prevention, case management, and cerebrospinal meningitis (CSM) care. Community outreach is being reinforced through public awareness campaigns, media engagement, and targeted health communication strategies,” he added.

On cerebrospinal meningitis, Dr. Idris reported a consistent decline in new cases and fatalities over the last three weeks.

He attributed the improvement to effective vaccination, early treatment, and adaptive surveillance strategies tailored to real-time data.

“Although the situation remains serious, strong national and state-level coordination is showing positive results.

“The response will continue until full containment is achieved and states take full ownership of the CSM Incident Action Plan,” he said.

Dr. Idris also expressed concern about the rising Mpox trend since its reemergence in 2017, with significant spikes recorded between 2022 and 2024, positioning Nigeria among the most affected countries globally.

He warned that under reporting and delayed data entry remain challenges that need urgent resolution to ensure accurate and timely outbreak response.

A national mortality review for the recent Mpox deaths is being planned to further assess response effectiveness and identify areas for improvement.

The NCDC reaffirmed its commitment to safeguarding public health through timely surveillance, transparent reporting, and coordinated national response mechanisms aimed at reducing disease burden and preventing future outbreaks.


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Presidents Mahama, Tinubu Honor Dr. Mike Adenuga on 72nd Birthday

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Presidents John Dramani Mahama of Ghana and Bola Ahmed Tinubu of Nigeria have celebrated the Chairman of Globacom, Dr. Mike Adenuga Jr., on the occasion of his 72nd birthday.

In congratulatory messages, both leaders praised Dr. Adenuga’s outstanding contributions to the economic development and growth of both Ghana and Nigeria. They commended his remarkable entrepreneurial spirit, resilience, and commitment to excellence.

President Mahama described Dr. Adenuga’s life as “a shining example of vision, resilience, and extraordinary accomplishment.” He noted that through his entrepreneurial endeavors, Dr. Adenuga has not only built enduring businesses but also contributed significantly to the socio-economic advancement of the African continent.

He noted that Dr. Adenuga’s leadership and philanthropic endeavour remain a beacon of inspiration for generations across Africa.

Also President Tinubu stated that Dr. Adenuga’s humility and diligence have enabled him to succeed in various sectors, including banking, telecommunications, oil, and gas. He praised Dr. Adenuga’s innovative approach to business, citing Globacom’s pioneering per-second billing, which expanded telephony and digital access to millions of Nigerians.

“In addition, Conoil has proven that an indigenous firm can compete with international oil companies, fostering energy independence and security for our country.” He added.

President Tinubu who expressed the gratitude of Nigerians to Dr. Adenuga for his immense contributions to the country’s progress and prosperity, also commended him for extending his investments to other African countries and Europe, “a bold effort which earned you well-deserved honours as Commander of the Legion of Honour (France) and Ghana’s Companion of the Star of Ghana”.

 


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