Economy
AfDB to Help Nigeria Design Security-Indexed Investment Bonds
By Sodeinde Temidayo David
In order to assist Nigeria with an alternative funding avenue for tackling insecurity, the African Development Bank (AfDB) has offered to design and implement security-indexed investment bonds.
President of AfDB, Mr Akinwumi Adesina, while speaking on Monday at the two-day mid-term ministerial performance review retreat in Abuja, stated that these bonds would be offered at the capital market.
According to him, the investment tool would be issued at the global debt markets and would be available for different countries to access, with proceeds used to upgrade security architecture, rebuild damaged infrastructure in conflict-affected areas, rebuild social infrastructure and protect zones with strategic investments.
Mr Adesina emphasised that without security, there cannot be investment, growth or development in a country, explaining that an economically resurgent of Nigeria must be a more peaceful and secure Nigeria.
“Today, more than ever, several African countries are spending a significant share of their budgets on security, displacing the resources needed for development,
“We must recognise the strong linkages between security, investment, growth, and development.
“That is why the African Development Bank is working on developing security-indexed investment bonds to help African countries and regional economic communities to mobilise resources to tackle these challenges,” Mr Adesina noted.
The AfDB president further emphasised the importance of the modernisation and transformation of ports in Nigeria, adding that ports are not there for revenue generation as they are for facilitating business and exports and stimulating industrial manufacturing, and competitiveness of local businesses and exports,
“We should not be decongesting the ports in Nigeria, we should be transforming the ports,” he noted, explaining that this must start with cleaning up administrative bottlenecks, most of which are unnecessary with multiple government agencies at the ports, high transaction costs or even plain extortions from illegal taxes, which do not go into the coffers of the government.
The AfDB president said Nigeria should take the fintech industry as a major driver of the economy and invest heavily in digital infrastructure.
Mr Adesina further expressed that Nigeria should make its youth the drivers of the new economy through youth entrepreneurship investment banks.
He also recommended the establishment of special agro-industrial processing zones across the country and the reinstatement and enshrinement into law of the e-wallet system and growth enhancement scheme, stating that such establishments would boost farmers’ access to farm inputs.
By Aduragbemi Omiyale
The Series II of the Coronation Infrastructure Fund (CIF) has received the approval of the Securities and Exchange Commission (SEC).
This was confirmed by Coronation Asset Management, which is floating the investment tool, which attracted N8.79 billion from 33 investors across four investor categories during its Series I issuance.
Business Post gathered that the net proceeds from the Series II offer will be deployed to provide debt financing for infrastructure and infrastructure-related projects, companies and Special Purpose Vehicles in line with the fund’s investment objectives and policies.
Already, about N3.31 billion has been distributed in income to unit holders, reflecting its disciplined investment approach and ability to originate, structure, and manage infrastructure credit investments that deliver sustainable, risk-adjusted returns while preserving capital.
A signing ceremony was recently held at Coronation Plaza in Lagos to formally bring together the fund’s transaction parties, marking the completion of a critical regulatory milestone and paving the way for the opening of the Series II offer for subscription. The next phase will see the fund complete the remaining regulatory notification requirements ahead of the public offer.
“Today’s signing marks an important step towards the launch of the Series II offer. It reflects the strength of our partnerships, the confidence of our regulators and the disciplined approach we have taken in managing the fund since inception.
“Series I demonstrated strong demand for well-structured infrastructure investment opportunities that deliver attractive risk-adjusted returns alongside real economic impact.
“With Series II, we are building on that track record by connecting long-term capital with infrastructure projects that support Nigeria’s growth while creating lasting value for our investors,” the chief executive of Coronation Asset Management, Mr Aigbovbioise Aig-Imoukhuede, said.
Also commenting, the Head of the Coronation Infrastructure Fund, Mr Mayowa Ikotun, said, “Series II is designed to build on the strong foundation established by the inaugural issuance. The Fund will continue to target a diversified portfolio of infrastructure debt opportunities across telecommunications, transport, energy, utilities, social infrastructure and real estate, investing in projects with resilient cash flows and strong credit fundamentals.
“Our objective remains to provide investors with attractive long-term risk-adjusted returns while helping to bridge Nigeria’s infrastructure financing gap.”
By Adedapo Adesanya
The Emir of Kano, Mr Muhammadu Sanusi II, has commended the Central Bank of Nigeria (CBN) for its economic reforms, saying they have restored macroeconomic stability and driven economic growth beyond the country’s population growth rate.
Emir Sanusi, a former Governor of the central bank, made the remarks while speaking at the ongoing 31st Nigerian Economic Summit in Abuja.
According to the former banker, the apex bank inherited an economy weakened by years of excessive liquidity and rapid money supply growth but had succeeded in reversing the trend through tighter monetary policies.
“I have nothing but positive words for what the central bank has done. We are coming from the background of a very high level of instability as a result of loose money and uncontrolled growth in money supply.
“The central bank has taken one year to mop up all that money,” the monarch said, according to a video from the event that has circulated widely.
Speaking on the impact of the reforms, Mr Sanusi added: “This is the first time that this economy will be growing faster than the population.”
The remark suggests that the country’s gross domestic product (GDP) growth is expected to outpace its population growth rate of about 2.1–2.5 per cent annually, implying an increase in per capita income.
This means the economy is expanding fast enough to raise average output and income per person, rather than merely keeping pace with population increases.
The reforms introduced by the Yemi Cardoso-led CBN have centred on restoring macroeconomic stability and rebuilding investor confidence. Key measures include adopting a more market-driven foreign exchange regime, tightening monetary policy through successive interest rate hikes to curb inflation, and clearing a significant portion of the foreign exchange backlog owed to businesses and investors.
The apex bank has maintained that these policies are designed to stabilise the naira, improve liquidity in the FX market, attract foreign investment, and lay the foundation for sustainable economic growth.
Running low on data with no airtime to spare, but you’ve got an unused gift card sitting in your email or phone? You’re not alone.
A lot of Nigerians receive gift cards from friends, family abroad, or clients, but have no real use for them. Meanwhile, data is one of those everyday needs that can’t wait. So the question comes up often: can you actually use a gift card to buy data in Nigeria? Let’s get into the answer.
Is It True That You Can Use Gift Cards to Buy Data in Nigeria?
Yes, you can buy data using your gift cards, but not directly.
Let’s clear up the confusion first. You cannot hand your Apple or Amazon gift card code directly to MTN, Airtel, or Glo and expect them to accept it as payment for data. Telecom networks don’t have any system for redeeming gift cards. They only take cash, bank transfers, USSD payments, or app-based payments.
So where does the idea come from? It comes from the workaround that’s become common practice: converting the gift card into cash first, then using that cash to buy data the normal way. This is where a gift card trading platform like Cardgoal comes in. Instead of a gift card sitting unused because you have no matching account to redeem it on, or no interest in what the card offers, you trade it in for real Naira. From there, buying data is as simple as it always is.
In other words, “buying data with a gift card” isn’t a direct swap. It’s a two-step process that takes just a few minutes when you use the right platform. And once you understand this, it opens up a genuinely useful way to make idle gift cards work for you.
How to Buy Data in Nigeria with a Gift Card? Step-by-Step
Here’s exactly how the process works from start to finish:
Step 1: Sell Your Gift Card on Cardgoal
- Download the Cardgoal app from Google play store or Apple App store
- Sign up and select the gift card you’re holding
- Enter the card’s value and code
- Get the details verified
Step 2: Get Paid Instantly
Once your card is verified, your payout is sent straight to your Cardgoal Wallet. This is the core value of using a trading platform over trying to sell a card informally to a stranger online. You can use this value to pay bills including data and airtime purchases. You get your gift card value quickly and securely, without the risk of being scammed or shortchanged.
Step 3: Use the funds to Top Up Data
With your gift card value in Naira now in your account, you can top up data directly within the Cardgoal app.
- Go to Pay Bills
- Tap on “Buy Data”option
- Select your network: — MTN, Glo, Airtel, or 9mobile.
- Enter the phone number to recharge.
- Input the amount you want to buy.
- Confirm the transaction — and your preferred data arrives almost instantly.
By this method, you can;
Whichever network you’re on, the cash from your gift card sale spends exactly the same as money from any other source, because at this point, that’s exactly what it is.
Why Use Cardgoal To Buy Data in Nigeria Instead of Other Methods?
There are informal ways to try converting a gift card into value, like posting it in a WhatsApp group, negotiating with a random buyer on social media, or asking around for anyone willing to take it off your hands. None of these are reliable, and most come with real risk of being underpaid or scammed outright. Here’s why selling gift cards through a proper platform makes more sense:
- Instead of waiting days for someone to respond to a post, verification and payout on a dedicated platform typically happen within minutes.
- Fair, transparent rates. You can see the going rate for your specific card before you commit to the trade, rather than negotiating blindly with a stranger.
- Verification checks confirm your card is valid and correctly priced, protecting you from common scams like fake buyers or already-redeemed codes.
- Convenience of one app. Beyond gift card trading, Cardgoal also supports airtime and data purchases, bill payments, and rewards. So once your card is converted to cash, you not even need to leave the app to complete your data top-up.
- No back-and-forth. There’s no haggling, no waiting for a buyer to “confirm” payment, and no uncertainty about whether the trade will actually go through.
For anyone who regularly ends up with gift cards they don’t need, this turns what would otherwise be a stagnant asset into something genuinely useful like data, airtime, bills, or straight cash.
Turn Your Unused Gift Card Into Data Today
If you’ve been sitting on a gift card with no real use for it, there’s no reason to let it go to waste. Selling it for cash and buying data with the proceeds is quick, safe, and puts real value back in your hands
Download the Cardgoal app today, sell your gift card, and buy data on your preferred network in minutes.
