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Verve Vows to Deepen Financial Inclusion in Nigeria

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**Controls 95% Market Share in Gambia

By Adedapo Adesanya 

Nigeria’s leading electronic paynent platform launched by Interswitch Group, Verve, celebrated its 10th year of operating in the country on Friday, September 27, 2019.

Marking the occasion with a media parley in Lagos, the company spoke on the journey so far, the challenges that followed the innovation, and what it expects to achieve in the future.

Speaking on the Verve story, the Verve International Divisional CEO, Mr Mike Ogbalu III, expressed his excitement about this milestone occasion, saying the idea was born out of the need to serve the general public.

He noted that when the debit based innovation came into existence, Nigerian banks were skeptical about its ability to serve the average customer.

According to Mr Ogbalu, Access Bank and the defunct Intercontinental Bank aligned themselves with the Verve vision and showed more belief in the dream when the idea was sold to them.

He praised these two financial institutions for believing in the innovation which led to the issuance of Verve cards by Nigerian banks, making it possible for the indigenous brand to compete well with other international competitors.

He further said with the introduction of Verve instant issuance technology into the market, bank activity rose drastically as a result of customers being able to get their personalised debit cards on time.

Mr Ogbalu said that despite the competitiveness amid the economic challenges, Verve will continue to evolve as its cards were now issued as both physical and virtual systems in Nigeria and 12 countries across the African continent.

“It is incredible to think about it that a brand that started here in Nigeria is solving problems across Africa.

“With Verve, we are taking a piece of Nigeria to the world,” he added.

Mr Ogbalu further said that Verve has found its way across the international payment space and had even beaten the two year expectation set for it and hopes to expand more.

On his part, the Founder and General Managing Director of Interswitch Group, Mr Mitchell Elegbe, said that Verve had laid down the foundation and is currently being issued in over 20 countries on the continent

He noted that the company had a market share of 95 percent in Gambia and was similarly making name in Kenya and other countries.

According to Mr Elegbe, Verve had also gone global with its launch in New York and is accepted in over 185 countries in the world.

Business Post reports that at the media parley, which featured a panel discussion moderated by Mr Ogbalu III, Verve noted that it was at driving for more financial inclusion in line with the policies on the Central Bank of Nigeria while making electronic payments accessible and affordable, and also ensuring the drive for the acceptance of electronic payments in a cash driven economy.

There was also a deliberation on the disruption of telcos in offering financial services. The event also featured the launch and test of the Verve Life Application.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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JMG Installs Solar Power Systems at Three NIPCO Fuel Stations

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JMG solar power systems NIPCO

By Aduragbemi Omiyale

Nigeria’s trusted hybrid and integrated electromechanical energy provider, JMG Limited, has completed the installation of solar power systems at three key fuel stations of NIPCO Plc.

The clean energy source was installed at NIPCO’s petrol dispensing outlets in Gwagwalada Abuja, Lekki Lagos, and Mpape Abuja.

This will help the organisation eliminate diesel reliance, and unlock more than N44 million in annual energy cost savings.

The installations feature advanced hybrid systems, combining solar arrays, lithium battery storage, and smart inverters to provide 24/7 energy for fuel pumps, lighting, and office operations. Each site has reported zero use of electricity or generator power since the systems were installed.

The three NIPCO stations now run on an advanced hybrid solar system that combines high‑efficiency PV panels, intelligent lithium‑battery storage and smart inverters.

Since commissioning, the sites have operated with zero grid or generator power, providing silent, clean, uninterrupted electricity for pumps, lighting and administration.

“We are proud to help NIPCO lead the energy transition at the retail level.

“The scalable architecture can be sized to each location and has already delivered significant savings, about 88,535 kWh/year, N44.4 million in annual cost savings and a 43.8‑tonne reduction in CO₂ emissions,” the Head of JMG’s Hybrid Solar Division, Mr Abbass Hussein, stated, adding that, “Collaborating with NIPCO on this initiative demonstrates a practical pathway for other firms to reduce both emissions and energy expenses.”

Also commenting, NIPCO’s Station Manager at Gwagwalada, Mr Idoko Jacob, said, “The stations have not relied on electricity or generator power on bright-weather days since commissioning. The solar systems fully meet our daily energy needs during such periods. On days with poor weather, we supplement the solar system with generator power to ensure uninterrupted operations.”

Business Post gathered that the NIPCO Gwagwalada Station has a solar output of 42,450 kWh/year, annual savings of N15.6 million, and CO₂ reduction of 15,332.76 kg/year, with a system installed consisting of a 20kW Deye LV Hybrid Inverter, 26.8kWp Solar PV, and 51.2kWh Lithium Battery Storage.

The NIPCO Lekki Station has a solar output of 3,635 kWh/year, annual savings of N12 million, and CO₂ reduction of 13,130.1 kg/year, with a system installed consisting of a 25kW Must Hybrid Inverter, 22.95kWp Solar PV, and 76.8kWh Lithium Battery Storage.

As for the NIPCO Mpape Station, it has a solar output of 42,450 kWh/year, annual savings of N16.8 million, and CO₂ reduction of 15,332.76 kg/year, with a system installed consisting of a 20kW Deye LV Hybrid Inverter, 26.8kWp Solar PV, and 61.44kWh Lithium Battery Storage.

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MAGGI Unveils ‘Taste of Christmas’ Campaign

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MAGGI Taste of Christmas

MAGGI, the culinary brand from Nestlé Nigeria, has announced the launch of its festive campaign, Taste of Christmas, designed to celebrate the sights, sounds, and flavours that define the Nigerian Christmas experience.

Central to the campaign is a collaboration with Nigeria’s fast-rising pop star Qing Madi and the renowned Loud Urban Choir, resulting in a new Christmas anthem titled Taste of Christmas.

Now available across all major music streaming platforms, the song blends contemporary sound with cultural warmth, evoking the joy of family, togetherness, and shared meals that characterize the season.

Extending beyond music, the Taste of Christmas campaign will roll out a curated series of festive recipes and culinary inspiration over a 12-day period. The collection features creative twists such as Coco Bongus, alongside beloved Nigerian classics, encouraging families to explore new flavours while enjoying MAGGI’s trusted range of seasonings.

Commenting on the campaign, the Category Manager for Culinary at MAGGI, Ms Funmi Osineye, said, “Christmas is a time when family, culture, and shared experiences come alive. With the Taste of Christmas campaign, we set out to create a platform that resonates strongly with today’s young adults while still celebrating the warmth of home. Partnering with Qing Madi and The Loud Urban Choir allows us to connect music and food in a way that feels authentic, modern, and deeply Nigerian.”

The campaign further reflects MAGGI’s commitment to celebrating home-grown talent, nurturing culinary creativity, and strengthening the role of food as a unifying force in Nigerian homes.

Consumers can access festive recipes, campaign content, and the Taste of Christmas anthem on MAGGI’s digital platforms and social media channels. Conversations around the campaign can be followed using #MAGGIChristmas.

MAGGI is a leading culinary brand from Nestlé Nigeria, committed to inspiring better cooking habits and bringing families together through delicious, nutritious meals.

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FG Suspension of Sachet Alcohol Ban Excites NECA

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sachet alcohol

By Modupe Gbadeyanka

The decision of the federal government to suspend the ban on alcohol produced in sachets has been welcomed by the Nigeria Employers’ Consultative Association (NECA).

The Director-General of the group, Mr Adewale-Smatt Oyerinde, described it as a right step in the right direction because it respects existing National Assembly resolutions and restores regulatory clarity.

Recall that recently, the Office of the Secretary to the Government of the Federation (OSGF) ordered the suspension of the policy due to concerns raised by the House of Representatives Committee on Food and Drugs Administration and Control.

In a statement, the NECA chief said the immediate suspension of all enforcement actions relating to the proposed ban on sachet alcohol and 200ml PET bottle products, pending the conclusion of consultations and the issuance of a final policy directive, was good for the industry and the economy.

According to him, the sachet and PET segment of the alcoholic beverage industry accounts for a significant portion of the estimated N800 billion invested in the sector and supports thousands of direct and indirect jobs in manufacturing, packaging, logistics, wholesale and retail.

He stressed that in an economy already struggling with high unemployment and rising business costs, abrupt policy measures that threaten existing jobs and legitimate investments would be counterproductive.

“We fully acknowledge the need to address public health concerns, especially regarding children and young people, but the solutions must be evidence-based and carefully designed so as not to drive activities into the informal and unregulated economy or encourage illicit products.

“We are looking forward to a deepened consultation to enable the protection of jobs, livelihoods and legitimate investments, etc., while also ensuring that public health objectives are effectively and sustainably achieved,” Mr Oyerinde said.

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