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Standard Chartered’s Client Conference on AfCFTA Focuses on a Single Continental Market for Nigerian Businesses

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As part of Standard Chartered’s knowledge, capacity building and developmental initiatives across its local markets, Standard Chartered Bank Nigeria (SCB) hosted a virtual conference for clients and stakeholders on 21st January, 2021.

The conference was organized to discuss the Implications of a Single Continental Market for Nigerian businesses on the back of the launch of the African Continental Free Trade Area (AfCFTA) Agreement on 1st January, 2021.

The virtual conference was a unique opportunity for the Bank to re-reinforce its brand promise and commitment to driving commerce and prosperity across Africa which remains a strategic region for the Bank’s for trade and investments priorities.

AfCFTA is expected to facilitate the creation of a single continental market for goods and services with free movement of people and investment capital, thus deepening economic integration of member countries and expanding intra-African trade across the continent.

Experts believe that full implementation of the agreement will provide growth opportunities for entrepreneurs and businesses, boost industrialization, increase investment opportunities and technology transfers.

The conference provided a platform for major Multinationals, International Corporates, Industry Experts, Policy Makers, Regulators and other stakeholders in Nigerian to garner new perspectives on the opportunities for economics of scale, industrialization, investment flows, human capital development and business expansions as well as potential challenges that the Africa Continental Free Trade Area (AfCFTA) agreement may portends for the Nigeria business environment.

Lamin Manjang, CEO, Standard Chartered Bank, stated that “Full implementation of AfCFTA could provide a lever to mitigate the effects of the Covid-19 pandemic and help move millions out of poverty by 2025.

“SCB combines its local knowledge and track record in 15 African markets with global network spanning more than sixty countries and continuous investment in products and services, making us the ideal partner for clients.”

Presenting the keynote speech on “Implication of a single continental market for Nigerian Businesses’’, Razia Khan, Chief Economist for Africa and the Middle East, Standard Chartered Bank, said “AfCFTA presents an opportunity for the Nigerian Economy to move away from oil dependency and put in place meaningful diversification which will impact policies as well as the FX regime.

“The Nigerian Economy’s advantage is its scale, as it makes development more rapid than other African counterparts. The key to leveraging this, is finding the right synergies.”

Ibiyemi Okuneye, Head, Transaction Banking, Standard Chartered Bank, also reiterated that “The successful implementation of the agreement will require collective partnerships and co- operation between the public and private sector as AfCFTA is not just about moving goods and services, but about moving the entire continent forward for industrialisation and economic growth.”

The speakers comprised of intellectuals from corporate and government institutions namely: Alhaji Jibrin Apeh Salifu (Deputy Director, Trade and Exchange Department, Central Bank of Nigeria), Mr Ayalogu Anthony (AG, Comptroller, Trade Facilitation, Nigeria Customs Service), Professor Jonathan Aremu (International Economic Relations at the Covenant University, Nigeria), Alhaji Sada Ladan-Baki (GED International Trade & Export Dangote Industries Limited), Mr Bamidele Ayemibo (CEO, 3T IMPEX, Trade Academy), Omolara Adenusi (Head, Cash Management at Standard Chartered Bank) and Sola Bakare (Head, Global Subsidiaries at Standard Chartered). The speakers shared important and useful insights on how AfCFTA will facilitate opportunities for infrastructure development and economic transformation of Africa and Nigeria in particular.

Standard Chartered’s strategic purpose is driving commerce and prosperity through our unique diversity across emerging markets we operate (Asia, Africa and the Middle East). It’s extensive experience and unrivalled track record of working with corporates across Africa sub-regions continues to position her as the best suited partner in harnessing the full benefits of AfCFTA.


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IHS Nigeria, UNICEF Donate Oxygen Plant to Bridge Health Gap in River State

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IHS Nigeria and its implementing partner, the United Nations Child Education Fund (UNICEF) has expressed satisfaction that the Oxygen Plant recently donated to Rivers State is helping to bridge the health Gap in the state and its environs.

This observation was made recently when officials from IHS Nigeria and UNICEF, carried out a project inspection visit to the plant located at the General Hospital in Eleme, Rivers State.

During the handing over of the oxygen plant to the Rivers State Government in 2024, the facility was reported to have a production capacity of 123 oxygen cylinders and 720,000 litres of oxygen every 24 hours.

The plant was built under a Public-Private Partnership involving UNICEF, the Canadian Government, IHS Nigeria, in partnership with the Rivers State Ministry of Health through the State Hospital Management Board.

Speaking during the visit to the facility yesterday, the Director of Sustainability at IHS Nigeria, Titilope Oguntuga, noted that the oxygen plant has saved lives and is helping to bridge health gaps in the eight other states where similar plants are located.

She further explained that the visit reflects the organisation’s commitment “not only to create opportunities for impact but to also continue supporting the healthcare industry by carrying out such interventions that directly impact individuals and saves lives. This plant is one of the nine oxygen plants we have built across the federation,” she said.

“We are particularly excited that it is helping to bridge health gaps—not just in Rivers State and its environs, but in all the states where the plants are currently located.”

Oguntuga informed that in terms of sustainability “we focus our intervention sustainability on four pillars; ethics and governance, education and economic growth, environment and climate change and finally, people and communities”.

She added that “the visit to the Rivers State oxygen plant is to have an assessment of how well the plant is functioning, the impact it is currently making and to generally understand how the operation is going”.

On his part, Chief of UNICEF Field Office, Port Harcourt, Dr Anslem Audu, stated that the plant has been very functional and useful to the people of Rivers State. According to him, “During the COVID-19 pandemic, a lot of patients needed oxygen and oxygen was not available. So many children will come down with pneumonia and it will become an emergency, they will need oxygen, but oxygen is not available in the hospital. But with this plant now available no child will die because of lack of oxygen in the hospital. The era of lack of oxygen is no longer there.

Audu added that “You can practically visit any of the hospitals in Port Harcourt and find out that they have oxygen and the product is from this plant all thanks to IHS Nigeria, the Canadian Government and UNICEF”.

The UNICEF field officer, who confirmed that the plant is functioning optimally, said it is producing enough oxygen for the state’s needs.

In his words, “The partnership between these three organizations and the Ministry of Health in Rivers State has really worked, and we are reaping the benefits of the partnership.

He urged the implementing partners, especially the government, to also invest in the sustainability of the facility by providing a source of electricity for the plant to be more functional.

Earlier, the Medical Director Eleme General Hospital, Dr Leechi-Okere Clarabelle, noted that since the day of the unveiling, the plant has been functioning very well. Commenting on impact he noted that “We’ve had success stories whereby oxygen is distributed to public hospitals in the state, including the two teaching hospitals in the state and then we have also extended distribution to some private hospitals within the state.

“We have two hubs that serve as storage and distribution points because of the location of the plant. We produce here and store somewhere in Port Harcourt so that people who come from a far distance can get oxygen from these hubs.

 


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JAMB Accuses Student of Securing Admission through Identity Fraud

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Joint Admissions and Matriculation Board (JAMB) has accused a 2025 Unified Tertiary Matriculation Examination (UTME) candidate of manipulating his identity and engaging in online blackmail.

JAMB Accuses Student of Securing Admission through Identity Fraud

Fabian Benjamin, head of public affairs, JAMB, issued a statement on the matter on Thursday.

He said one Chinedu Okeke, currently a 400-level Medicine and Surgery student at the University of Nigeria, Nsukka (UNN), gained admission in 2021 while claiming to be from Amuwo-Odofin, Lagos state.

JAMB said Okeke’s national identification number (NIN) records from 2021 confirm his Lagos origin.

The board stated it does not alter candidate information provided through NIN.

The board, however, said the 400-level student, who is facing potential challenges for incorrect credentials, is now claiming that it retrieved the wrong details for him from the National Identity Management Commission (NIMC) in 2021.

“[This] is unequivocally false, aimed at fabricating a defence for his case,” Benjamin said.

“The evidence suggests that Chinedu altered his records as filled in 2021 before registering for the 2025 UTME, a fact confirmed by even his advocates.”

The board questioned why a 400-level medical student would seek to study mechanical engineering in 2025, especially with “inconsistencies in his claims.”

JAMB alleged that Okeke “took advantage” of Lagos state’s quota in 2021, thereby obstructing the admission opportunities for other deserving candidates from the state.

It added that he then “attempted to manipulate his details with the NIMC” to unjustly claim representation from Anambra state in 2025.

The board criticised “online advocates” for “actively reaching out to Chinedu’s parents to extract emotional narratives rather than factual clarifications, neglecting to seek information directly from the university.”

JAMB affirmed its commitment to maintaining accurate records and preventing candidates from exploiting loopholes.

It warned that if UNN confirms any inconsistencies, it would notify the Medical and Dental Council to consider delisting Okeke.

“When a nation trivialises illegalities, it breeds a future fraught with potential criminality,” Benjamin’s statement concluded.


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Check Point Report Finds Africa as Top Target for Cyber-attacks

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Africa has become the most targeted region globally for cyber-attacks in the first quarter of 2025, according to new research from Check Point Software Technologies. The company’s Q1 2025 Global Cyber Attack Report reveals a steep rise in malicious activity as the continent continues to accelerate its Digital transformation.

Ethiopia emerged as the most targeted country in Africa during the reporting period. FakeUpdates ranked as the most common malware, while 80% of malicious files across the continent were delivered via e-mail. In contrast, 62% of threats in SA were distributed via the web.

On average, organisations in Africa faced 3 325 cyber-attacks per week – a staggering 72% above the global average of 1 938 attacks per organisation.

Check Point Software unpacked the findings at a media roundtable in Johannesburg. Eli Smadja, global research group manager at Check Point, provided a detailed overview of Africa’s evolving cyber threat landscape, which he said is increasingly defined by AI-powered threats, ransomware, infostealers, edge device vulnerabilities and cloud-based risks.

Among the most concerning developments was the discovery of a previously undocumented multi-stage backdoor, dubbed Stealth Soldier, currently being deployed in cyber operations targeting North African government entities. The malware forms part of a broader command-and-control infrastructure used in spear-phishing campaigns.

Smadja noted a growing trend in malware designed to bypass AI detection systems.

“These aren’t aimed at advanced large language models (LLMs), but rather at lower-level ones,” he said. “It’s about LLM evasion – fooling the AI and manipulating prompts.”

Despite the increasing use of AI in cyber security, Smadja cautioned against over-reliance on AI-driven defence systems. “AI still requires human prompting.”

Check Point is advocating for a zero trust model and a holistic, automated and consolidated approach to cyber security. This includes centralised threat visibility and simplified controls to protect against ransomware, phishing, data theft and vulnerabilities at the edge.

“Just having something at the perimeter isn’t enough,” Smadja said. “Cyber-attacks are not just targeting PCs or servers anymore. For instance, we’ve seen state-sponsored attacks aimed at fuel pumps to disrupt national supply chains.”

He highlighted the importance of understanding external risk – threats originating outside the organisation – especially as AI-driven ransomware and attacks on third-party service providers continue to rise.

“Printers, for example, are a major attack vector,” he added. “They’re often network-connected, and threat actors can exploit them to gain broader access.”

Credentials, Smadja noted, are also a lucrative commodity on the dark web, often selling for around $500.

 


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