General
PwC Marks Decade of Strategy&, Consulting
By Adedapo Adesanya
PwC is celebrating the 10th anniversary of its in-house strategy consultancy and Strategy&, marking a decade since Booz & Company joined the PwC network which led to the formation of Strategy& in 2014.
According to the firm, the name Strategy& signifies what Booz & Company brought to the PwC network: the ability to support the shaping of corporate and other strategies, and to help clients translate this advice into tangible actions by marshalling PwC’s diverse community of solvers.
Booz & Company originated in Chicago in 1914 and being the first organisation to use the term management consultant, they assisted clients globally to navigate changing landscapes, differentiate their market offering, and win work. Today, Strategy& in Africa is supported by this century-old global legacy – one that has empowered businesses, driven growth, increased profitability, and achieved competitive advantage for our clients on a global scale.
Speaking on this, Mr Sam Abu, Regional Senior Partner, West Market Area, PwC, said, “Our unwavering commitment to delivering sustainable outcomes for all stakeholders in line with our New Equation global and Africa ‘5+1’ strategy are the key levers of our continued success, leveraging our diverse community of solvers. This is exemplified in the milestone achievement of Strategy&’s tenth anniversary which we celebrate today. By fostering a culture of excellence and quality, we’re creating a more rewarding work environment where our people can flourish, helping our clients and communities build trust with stakeholders and tackle their most critical challenges.
Looking ahead, Strategy&’s consulting expertise and the vast capabilities of the PwC network will continue to help organisations in our region reinvent their businesses, build resilience for the future, and shape a sustainable path to success, in line with our drive of powering forward to a new frontier.”
On his part, Mr Olufemi Osinubi, Consulting and Risk Services Leader, West Market Area, PwC, said, “We’re excited to be making this bold move in the West African market with Strategy&. Our deep industry knowledge allows us to leverage Strategy&’s proven methodology to create capabilities-driven strategies for leading organisations across various industries. Strategy& is uniquely positioned to solve the issues that matter to our clients. Our commitment to working alongside our clients, fostering public-private sector collaboration, and creating lasting impact fuels our drive to be a catalyst for positive change in West Africa. As we embark on the next decade, we remain dedicated to delivering sustained outcomes that make a real difference for our clients and communities.”
Adding his input, Mr Olusegun Zaccheaus, Strategy& Lead, West Africa noted, “In 2022, we launched Strategy& in West Africa which was a significant repositioning to provide differentiated services to our clients in West Africa. Our region presents both exciting opportunities and challenges, and we’re committed to helping our clients navigate this ever-evolving business landscape. As we celebrate 10 years of Strategy&, we are excited to be deploying the power and heritage of Strategy&’s global network, including subject matter experts, proprietary assets and accelerators, global client experiences, and proven case studies to solve the unique business problems of our clients in West Africa.”
As part of the PwC network, Strategy& solvers have converged in the past decade in unexpected ways to solve many of the African continent’s most important challenges. By providing change-making organisational strategies based on a deep global network, broad local capabilities, and a commitment to expertise, we have brought our philosophy, ‘strategy, made real’, to life.
With a team of over 3,000 strategy consultants worldwide, and more than 70 across Africa, Strategy& has made a lasting impact across diverse sectors. As we embark on the decades to come, we remain committed to making a difference, delivering sustained outcomes, and solving the issues that matter to our clients and the African continent.
By Modupe Gbadeyanka
The Economic and Financial Crimes Commission (EFCC) has explained why it initiated a move to freeze the bank account of the Osun State government.
Earlier on Wednesday, the Governor of Osun State, Mr Ademola Adeleke, claimed that the anti-money laundering agency asked one of its bankers, First Bank, not to release funds to the state government.
According to the Governor, this was part of the strategies to frustrate his administration ahead of the August 15, 2026, governorship election in the state.
Reacting to the issue on Wednesday night, the EFCC, in a statement, said it has been investigating the state government since March 2026 over an alleged “fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) account to the tune of N11.0 billion.
The organisation noted that some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC.
“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026.
“The commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved,” parts of the statement said.
In the disclosure, the agency noted that its preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources, stressing that it cannot “watch idly while a state government’s account is being pillaged.”
“While the commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the funds of the state. It will be uncharitable for the commission to allow an excuse of an upcoming election to fold its arms to perform its legally-assigned functions,” it pointed out.
The EFCC disclosed that it is “keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the commission to ensure accountability and probity. The commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted.”
The organisation urged the public “to ignore false narratives and deliberate demonisation of the works of the EFCC. The interests of all Nigerians are greater and will always be protected by the commission.”
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has launched a mobile application designed to monitor fuel consumption patterns in real time across retail outlets nationwide.
The NMDPRA, established under the Petroleum Industry Act (PIA) 2021, is responsible for the technical and commercial regulation of Nigeria’s midstream and downstream petroleum operations. The deployment of the mobile application aligns with the authority’s broader efforts to leverage technology to improve regulatory compliance and strengthen accountability.
The pilot phase of the project began on August 1 in Abuja and its six Area Councils, the authority said in a statement published on X.
As part of the rollout, the Executive Director for Distribution Systems, Storage and Retailing Infrastructure (DSSRI), Mr Ogbugo Ukoha, led a team alongside officials from the Abuja Regional Office to assess the readiness and operational performance of the digital platform at participating retail outlets.
According to the NMDPRA, the application captures inventory and compliance data in real time, enabling regulators to monitor fuel distribution more effectively while improving operational efficiency across the sector.
The authority said the platform would generate reliable, data-driven insights to support evidence-based decision-making, strengthen national energy security planning and enhance transparency in the downstream petroleum industry.
It added that the initiative is expected to provide significant value to government, investors, operators and other stakeholders by improving access to accurate fuel consumption and compliance data.
Nigeria’s downstream petroleum sector has undergone significant changes since the deregulation of the petrol market and the removal of fuel subsidies, with regulators placing greater emphasis on data-driven supervision to ensure product availability, prevent supply disruptions and discourage sharp regional disparities in distribution.
By Modupe Gbadeyanka
No doubt, moving money among African markets remains a slow, fragmented process that relies on multiple intermediaries and prolonged settlement cycles.
To solve this issue and drive the development of stablecoin-enabled payment services for businesses across the continent, Onafriq has joined forces with a leading stablecoin infrastructure provider, Privy.
The collaboration will enable Onafriq to create and manage embedded digital asset solutions for its partners and, in time, institutional clients where regulation allows. The initial phase focuses on cross-chain stablecoin transfers and treasury and settlement workflows, creating the foundation for future cross-border payment and liquidity solutions.
Integrating Privy’s secure infrastructure enables Onafriq to build the capabilities required to support a new generation of efficient digital payment services for banks, fintechs, and mobile money operators.
This partnership is a key component of Onafriq’s broader strategy to modernise pan-African payment infrastructure, enabling secure multi-modal wallets and more efficient movement of value across the continent.
The outcome will support a range of future institutional use cases, including stablecoin-enabled settlement, treasury management and liquidity services, as it reflects Onafriq’s commitment to driving Africa’s digital transformation agenda by investing in technologies that make financial services more efficient, connected and accessible.
It was gathered that Onafriq selected Privy for its enterprise-grade infrastructure to enable the seamless integration of digital asset wallet capabilities into its products, subject to regulatory approval, and deliver a simple user experience while abstracting the complexity of blockchain technology.
“At Onafriq, we keep investing in technology that makes payments faster and more accessible. Privy gives us a building block for faster settlement and better liquidity management. As demand for digital asset services grows, our goal is to ensure Africa’s payment ecosystem benefits securely and in line with regulatory frameworks,” the Group Chief Product and Innovation Officer at Onafriq,” Mr Luke Kyohere, said.
The chief executive of Privy, Mr Henri Stern, said, “Stablecoins will play an increasingly important role in the future of global payments, but real-world adoption depends on infrastructure that is secure, scalable and simple to implement. Working with Onafriq allows us to help build that foundation across Africa and beyond.”
