News
Six Local Firms Race to Produce National eID Card

The National Identity Management Commission (NIMC), last week Friday held the financial bid opening for the local production of the National eID Card, a penultimate step in the selection of local manufacturers for the eID Card recently launched by the President in August last year.
Six firms, including Electronic Pay Plus Ltd, the Nigerian Security Printing and Minting Plc and Secure ID Ltd were involved in this final race for a possible selection.
It was learnt that to ensure sufficient local capacity the NIMC plans to appoint a few of the firms and guide them in the process of attaining the appropriate technical specifications and global standards which it has set.
Currently there is no local manufacturing firm that has been certified and or accredited or with sufficient experience to produce the eID Card.
However sources close to the Card Manageemnt Services Department confirmed that as part of the Commission’s local content policy, a strategic plan has been put in place to ensure that local manufacturers with various related levels of competencies are enabled to acquire the required technical expertise and would be guided to achieve the set standards and certification to ensure that in the near future the Commission will no longer have to import the eID Cards the way it currently does.
This will help build local content level, indegenious expertise and technology transfer as well as create employment opportunities, in line with the Transformation Agend of the Presdient.
Speaking at the Bid Opening, Mr. Ibrahim Abdullahi, general manager, Finance and Investment, NIMC, who chaired the proceedings explained that the process which had been ongoing for sometime now included a study of the existing Cards Industry – both card manufacture and card personalisation – to enable the Commission ascertain the best strategy to adopt to support possible local manufacturers to achieve the required capacities and competencies within a short time, in line with the Commission’s objectives under the Card Scheme of the National Identity Manageemnt System (NIMS).
This he said was in line with the Mr. President’s Transformation Agenda.
According to him, the Commission is also mindful of the fact that the NIMS Card scheme, when fully issued will have in excess of 150m in circulation and with an estimated annual replacement rate of about 15%.
He further explained that the Commission worked on the design of the Card for over one year. This partly accounts for the long time it took to start issuing the Cards after Government gave its approval in November 2012, noting that NIMC can confidently say its Card is unique and very difficult to counterfeit or forge.
Since the Card was launched in August 2014, Mr. Abdullahi said, the Commission has taken delivery of about 6.6m Cards, part of the 13m cards under the pilot scheme approved in 2012.
Already these Cards are being issued to their owners from Abuja and Lagos and in another week or two, from all State Offices of the NIMC, nationwide.
He enjoined the companies, most of whom were not represented by their Chief Executives to please take the exercise and the impending assignment very serious, warning that the Commission will not hesitate to wield the big stick to avoid ugly situations of the past where successful bidders had held the Commission to ransome for non-performance and thereby slowed the pace of implementation of the NIMS project.
News
CAC Flags Three Companies, Warns Nigerians

Corporate Affairs Commission (CAC) has warned Nigerians against transacting with three fake Nigerian firms, citing fraudulent incorporation documents and registration numbers not issued by the commission.
According to the CAC, these companies are using fake certificates of incorporation with two different RC numbers each, none of which exist in the commission’s official records.
The affected companies are SPEF Cooperative Society Ltd with RC Numbers 1265884 and 512862, UPIL Staff Cooperative Society Ltd with RC Numbers 1265837 and 553220, and PREM Staff Cooperative Society Ltd with RC Numbers 1265844 and 545901.
The CAC warns that any Nigerian conducting business with these entities does so at their own risk.
“Anyone that transacts any business with the above-mentioned companies does so at their own risk,” the commission warned.
The commission further advised potential partners and investors to verify registration details directly through its official portal before signing contracts or making payments.
Similarly, the CAC, in a bid to enhance its services, introduced an AI-powered business registration platform on July 3, designed to streamline incorporations.
This new system offers instant name reservations, automated business-name suggestions, and same-day registration using a National Identification Number (NIN).
Additionally, the commission plans to review its service fees starting August 1, aiming to make its services more efficient and cost-effective.
News
AfDB to Introduce Systems Reforms to Prioritize Investing in Africa’s Youth

The African Development Bank, in partnership with the International Labour Organization, has launched a transformative system to mainstream youth employment, skills development, and entrepreneurship across its investments.
The approach, called the Youth, Jobs and Skills Marker System, is aligned with the Bank’s latest Ten-Year Strategy, which places Africa’s young people at the center of development efforts to maximize the impact of every dollar invested, turning demographics into a dividend.
The Marker System ensures that Bank projects spanning diverse sectors, such as agriculture, transport, energy, water, and education, systematically incorporate components that enhance youth employability, foster entrepreneurship, and build market-relevant skills.
“The Youth, Jobs and Skills Marker System is about ensuring Africa’s young people have a real say and active role in building sustainable economies and creating jobs – not as passive recipients of youth programs,” said Dr. Beth Dunford, the Bank’s Vice President for Agriculture, Human and Social Development. “This transformation of Bank practices and systems is a step toward making sure our investments have a positive impact on Africa’s young women and men.”
The integrated system has three focus areas:
Youth: Supporting youth-led micro, small, and medium-sized enterprises through targeted investments and operational integration.
Skills: Expanding access to practical, market-driven training and apprenticeships to enhance career prospects.
Jobs: Ensuring Bank-funded projects create sustainable job opportunities, particularly by developing youth skills for employability and the promotion of youth-led businesses in priority value chains.
Each year, around 10 to 12 million young Africans enter the labor market, which offers only three million formal jobs annually. The Bank will prioritize youth entrepreneurship and mobilize private sector partnerships to strengthen industry-oriented skills training as well as job creation over the coming decade.
“[This initiative] is very important because it allows us to significantly contribute to the United Nations Sustainable Development Goal #8 that includes decent work for all,” said Peter van Rooij, Director of Multilateral Partnerships and Development Cooperation at the International Labour Organization. “It also allows the International Labour Organization to influence the Bank’s work, to support their lending that is more geared toward more job creation and better jobs in a sustainable way.”
The Youth, Jobs and Skills Marker System is modeled on the success of the Bank’s Gender Marker System and its online dashboard, which categorize Bank projects based on their contribution to gender equality and women’s empowerment.
Similarly, the new system will feature an online platform enabling Bank staff and consultants to access real-time data for preparing country strategy papers, mid-term reviews, annual reports, project supervision, and reporting on youth-related skills, businesses and jobs outcomes.
The Bank has just launched a pilot version of the Youth, Jobs and Skills Marker System in readiness for the full implementation in 2026. This system will enhance data tracking, improve estimates of youth skills attainment and employment, strengthen labor market information systems, and support policymakers in making evidence-based decisions that drive meaningful change.
The International Labour Organization provided technical support for the system’s development with financial support from the Bank’s Youth Entrepreneurship and Innovation Multi-Donor Trust Fund. The Youth, Jobs and Skills Marker System is the first deliberate action of its kind developed by a development finance institution worldwide.
News
SEC Probes Ponzi Scheme Linked to FF Tiffany

The Securities and Exchange Commission has revealed plans to commence investigation into the activities of an entity operating under FF Tiffany, allegedly running a fraudulent investment scheme that has defrauded citizens.
A statement by the SEC on Tuesday in Abuja said preliminary information revealed that the scheme, which promised investors unusually high and unrealistic returns, had resulted in the loss of several billions of naira.
The SEC said it viewed the activity as a threat to investor confidence and the overall integrity of the financial system.
The commission assured the public that it was working closely with law enforcement agencies and other relevant bodies to bring everyone involved in the unlawful operation to justice.
According to SEC, those found culpable will be prosecuted in accordance with the Investment and Securities Act and regulatory provisions.
SEC reiterated its earlier warnings to the general public to desist from engaging in Ponzi or unregistered investment schemes that promised guaranteed or exaggerated returns.
“These schemes are not registered with the SEC and do not offer investor protection under the law.
“The commission is currently investigating 79 schemes and will make a statement on its findings at the conclusion of the investigation,” the SEC said.
The commission encouraged investors to conduct due diligence and verify the registration status of any investment firm or product by visiting the SEC website or contacting the commission directly through official channels.
SEC said it remained committed to its mandate of protecting investors, ensuring fair practices, and maintaining confidence in Nigeria’s capital market.
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