E-Financial
UNIC, TWYEF Tasks Parents on Digital Savvy Children
As the United Nations Information Centre (UNIC) Lagos in collaboration with Tehila Women and Youth Empowerment Foundation (TWYEF) joined the rest of the world recently to mark the Global Day of Parents, one issue that has remained on the front burner of public discuss is the challenges of parenting digital savvy children.
At the Panel Discussion programme organised to mark the day in Lagos, Nigerian parents have been urged to keep abreast of their children and be social media smart.
Speaking on ‘Contemporary Parenting and the Social Media’, Dr Ifeoma Amobi of the department of Mass Communication, University of Lagos, warned that interaction of young people on social media platforms should no longer be dismissed as a ‘waste of time’, but must be acknowledged by parents as a part of contemporary communication.
‘The new way of life, brought on by the spread and development of communication technology, demands different ways of parenting due to the altered fabrics of parent-child relationships,’ Dr. Amobi contended, ‘Parents should be their children’s best friends and should do so by becoming “social media smart”. She added that in order to fulfil parents’ duty of protecting their children, online activity should be treated with the same diligence as offline activity.
Established by the United Nations General Assembly in September 2012, the Global Day of Parents is observed on the 1st of June every year to honour parents around the world. It acknowledges that parents of every race, religion, culture and nationality in all parts of the world are the primary caregivers and teachers of their children, preparing them for a happy, fulfilling and productive life.
The Panel Discussion programme chaired by the Erelu of Lagos, Her Royal Highness, Abiola Dosunmu, attracted men and women, literate and non-literate, from all walks of life they gathered just to commemorate the Day3 in Nigeria.
Welcoming the participants, Mr Ronald Kayanja, director of UNIC Lagos, highlighted the importance of parents to the development of the child, the community and the nation.
He observed that the success of the United Nations’ mission to promote international peace and security, ensuring a world free from war and conflict, was dependent on the direction parents provided for their children and the society.
High Table Quoting from the preamble of the United Nations Educational, Scientific and Cultural Organisation (UNESCO), Kayanja observed that “Since wars begin in the minds of men and women, it is in the minds of men and women that the defences of peace must be constructed”. He added that parents played an integral role in peace building through teaching values of tolerance, respect for one another, hard work and integrity among others.
In her remarks, Mrs Stephany Nwanma, executive director of TWYEF, re-emphasised the importance of education and restoration of values through parenting and urged parents to rise up to the challenges of contemporary parenting.
Speaking on “Critical Issues and Challenges with Parenting in Nigeria”, Dr. Ebun Sonaiya, Chief Medical Director and Director of Total Health Trust, observed that peer pressure from an early age, the excessive use of technology and gadgets, being subjected to bullying, a sense of entitlement, drugs and substance abuse, sexual experimentation as well as sibling rivalry were the challenges children and parents face at this time in the global development. ‘The parenting skills needed to tackle these challenges are not taught in schools or homes rather parents need to devise a more practical approach to navigate the challenges,’ he added.
Her Royal Highness addressed the issue of gender equality and women’s empowerment stating that fathers and mothers should be equally responsible for parenting, as “women have always been working side by side to create a happy home for children”.
In her ‘Testimony of a Parent’, Mrs Chinyere Anokwuru, the former Senior Special Assistant to the Governor of Lagos state on women ethnic groups, recounted how her parents upheld integrity and values in the face of hardship and poverty to raise her. She added that the values handed down to her by her parents had brought her to where she was at the moment.
According to Mr. Oluseyi Soremekun, National Information Officer of UNIC, participants called on UNIC Lagos and TWYEF to organise a similar programme but for a larger audience.
They also requested that the presentations be published for wider circulation of the issues and for references purposes.
Flutterwave, Africa’s leading payments technology company, has been named in the TIME100 Most Influential Companies List of 2025, marking its second appearance on the prestigious global ranking.
Previously honoured in 2021, Flutterwave joins industry giants such as Amazon, Netflix, and OpenAI in the TITANS category of the fifth-annual list, which recognizes companies driving significant global impact.
The selection process, led by TIME editors, evaluated nominees based on innovation, ambition, impact, and success, highlighting Flutterwave’s transformative role in the fintech sector.
Founded in 2016, Flutterwave has grown into a powerhouse facilitating seamless payments across Africa and beyond, empowering businesses and individuals in the digital economy.
Its solutions span critical sectors such as cross-border remittances, e-commerce, travel, payroll, and hospitality.
The company’s 2021 TIME100 recognition followed its impactful campaign to help businesses pivot online during the COVID-19 pandemic.
This year’s inclusion underscores Flutterwave’s sustained influence, with its technology now reaching over 34 African countries and expanding into new markets such as Bahrain, Turkey, and Saudi Arabia, supporting a leading global ride-hailing company’s operations.
Flutterwave’s flagship remittance product, SendApp by Flutterwave, has gained significant traction in the US, UK, and EU, offering faster and more affordable money transfers for the African diaspora.
In 2024, the company secured 20 additional licenses in the US, bringing its total to 34 and achieving near-complete coverage through strategic partnerships.
Flutterwave’s focus on profitability and market expansion, coupled with a strengthened executive team, has fuelled its growth, with nearly half of its customers receiving payments in new markets last year.
Olugbenga Agboola, founder and CEO, Flutterwave, expressed pride in the recognition, stating, “Being recognized by TIME once again is a true honour. It’s a testament to our team’s incredible work. We’re shaping Africa’s financial future and connecting the continent to the world.”
The accolade follows other recent honours, including topping Fast Company’s 2024 Most Innovative Companies list for Europe, the Middle East, and Africa, and earning a second consecutive ranking in the FXC Top 100 Cross-Border Payment Companies.
The TIME100 listing solidifies Flutterwave’s position as a global fintech leader, bridging Africa to the world through innovative payment solutions.
As the company continues to expand its reach and refine its growth strategy, its influence in transforming the financial landscape remains undeniable, setting a benchmark for innovation and connectivity in the digital economy.
Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, has said that under the new tax laws, Nigerian households earning ₦250,000 or less per month are classified as poor and exempt from paying taxes.
The former tax leader at PriceWaterhouseCoopers (PwC) stated this on Channels Television’s Politics Today on Thursday, a few hours after President Bola Tinubu assented to four new tax bills.
Oyedele, whom the President appointed in July 2023, described his two-year stint as chair of the tax reform committee as both eventful and challenging.
He said that the objectives of the new laws, which would take effect from January 2026, were not intended to increase taxes but to stimulate economic activity in the country and track tax evaders.
President Bola Tinubu sits as he signs four new tax bills into law at the Presidential Villa in Abuja on Thursday, June 26, 2025 in the presence of top government officials. C
Oyedele stated that the new laws would also protect businesses and ensure that the government doesn’t tax poverty, adding that the new laws are efficiency-driven, growth-focused, and people-centric.
“This tax law will not give you cash in your pocket, but at least it won’t take your cash away if you are poor.”
He said nobody earning below ₦250,000 would have to pay taxes because they don’t even have enough.
“We have eliminated the tax component for people at the bottom, we have reduced for people at the middle, and we have increased slightly for people at the top.
“That middle, we estimated it at about ₦1.8 to ₦2m a month. If you are earning that amount and below, your tax will not be zero but it will reduce from what you are paying today,” he stated, noting that those who earn this amount are about 5% of the total Nigerian population.
The tax boss said to arrive at a decision, his committee debated the poverty line of an average Nigerian.
Oyedele said, “We debated this question; we said: ‘Who is a poor person in Nigeria?
“First, we started with data like the World Bank and the UN will tell you two dollars, fifteen cents a day per person means you are at the poverty line but there are people who do not earn two dollars a day but they are not poor because they produce the food that they eat and they do not pay for transportation. I lived and grew up in the village.
“So, we had to factor that in. We drew our own (poverty) line for Nigeria on the basis of an average of five people per family: two people working if they are lucky, taking care of the five.
“When we did the maths, it gave us an amount, and that was what we used in determining the income below which nobody should pay taxes.
“We came up with a ₦120,000 or ₦130,000 per two people working in a household of five. If the earnings are about ₦250,000, they can take care of themselves. Of course, they are not going to have luxury, but at least they can take care of themselves. They are poor, and they shouldn’t pay taxes.”
“When we did the maths, it gave us an amount, and that was what we used in determining the income below which nobody should pay taxes.
“We came up with a ₦120,000 or ₦130,000 per two people working in a household of five. If the earnings are about ₦250,000, they can take care of themselves. Of course, they are not going to have luxury, but at least they can take care of themselves. They are poor, and they shouldn’t pay taxes.”
Oyedele stated that Nigeria currently collects only about 30% of what the country should be receiving in taxes, noting that the objective of the new tax laws is to close the 70% gap.
The Cable NG reports that the market capitalisation of Fidelity Bank has crossed the N1 trillion mark as the share value of the company appreciated by 1.27 percent at the close of trading.
According data from the Nigerian Exchange Group (NGX), the bank’s market capitalisation hit N1 trillion after its share price rose from N19.75 on Tuesday to N20 on Wednesday.
The increase moved the company’s valuation from N991.6 billion to N1 trillion.
With the development, Fidelity Bank joins the list of financial institutions with a market capitalisation of over N1 trillion.
The companies are Zenith Bank, Access Bank, United Bank of Africa (UBA), Guaranty Trust Bank (GTB), and First Bank.
On May 21, Nneka Onyeali-Ikpe, the managing director (MD) and chief executive officer (CEO) of Fidelity Bank, acquired an additional 18 million shares in the bank.
Two days later, Onyeali-Ikpe bought additional 2 million units of shares in the bank.
According to a regulatory filing on the NGX, the shares were acquired on May 22, at N18.6 each — amounting to a total value of N37.2 million.
The acquisitions increased her shareholding in the bank to 114.64 million shares — from 94.64 million held as at December 31, 2024.
In its latest financial performance report, Fidelity Bank said it reported a 167.8 percent year-on-year increase in profit before tax (PBT), which increased to N105.8 billion in the first quarter (Q1) of 2025.
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