Brands/Products
CBN Orders Banks to Announce New CEOs Three Months Ahead
By Aduragbemi Omiyale
To “mitigate risks associated with abrupt changes in leadership,” the Central Bank of Nigeria (CBN) has directed banks operating in the country, especially the Domestic Systemically Important Banks (DSIBs), to ensure they announce successors of their chief executives three months before the expiration of the incumbents.
In a circular dated Tuesday, September 16, 2025, and signed by the Director of Financial Policy and Regulation Department, Ms Rita Sike, the central bank noted request for approval for the successors must be six months earlier.
“Each DSIB is hereby required to ensure it obtains regulatory approval for the appointment of a successor Managing Director (MD/CEO) not later than six months to the expiration of the tenor of the incumbent MD/CEO; and publicly announce the appointment of the successor MD/CEO not later than three months to the planned exit of the tenor of the incumbent MD/CEO,” the notice said.
The apex bank stated that this directive aligns with Section 2.14 of the CBN Corporate Governance Guidelines for commercial, merchant, non-interest, and Payment Service Banks (PSBs) in Nigeria, 2023, which requires boards of commercial, merchant, non-interest, and PSBs to approve succession plans for the MD/CEO, other executive directors and senior management staff.
“This requirement seeks to minimise disruptions at the top management level, enable top management appointees to prepare adequately for the new roles, and generally mitigate risks associated with abrupt changes in leadership,” the statement said.
Brands/Products
P+ Measurement Services Celebrates 10 Years of Driving Independent PR Measurement in Nigeria
P+ Measurement Services, Nigeria’s first independent media intelligence and PR measurement agency, is marking its 10th anniversary this November. Founded in 2015 at the brink of a recession, the agency emerged from a vision to challenge the norms of public relations reporting and bring independence, objectivity, and data-driven accountability to PR measurement and evaluation across Nigeria and Africa.
Over the past decade, P+ has transformed what was once considered an “impossible mission” into a thriving sector. Established from the living room of its founder, Philip Odiakose, who questioned why PR agencies should be the accused, the judge, and the jury of their own work, the company has since led the charge in redefining how PR performance is measured. Today, P+ stands as a trusted partner for more than 20 brands on retainer, having executed 52 projects and collaborated with 25 local and international PR agencies, as well as 86 brands, including government bodies, ministries, NGOs, and private organizations.
P+ Measurement Services has also played a significant role in advancing global recognition for Nigeria within the PR and communications measurement field, through its involvement with international bodies such as the Institute for Public Relations (IPR) Measurement Commission and the International Association for the Measurement and Evaluation of Communication (AMEC). Beyond its client portfolio, P+ has trained over 40 analysts and developed partnerships with key trade associations, including the Nigerian Institute of Public Relations (NIPR) and Women in PR.
Speaking on the milestone, Philip Odiakose, Chief Media Analyst and a Commissioner at the IPR Measurement Commission, commented, “Ten years ago, this was just a bold dream, starting an independent PR measurement agency when the industry barely understood the concept of evaluation. What began in my living room has grown into a movement that has shaped how the Nigerian PR ecosystem thinks about accountability, insight, and performance. Our mission was to prove that independence in PR measurement wasn’t just possible, it was necessary. Ten years later, I can say with pride that we did more than prove it; we built a legacy.”
Adding her perspective, Olufunke Mohammed, Executive Director of Operations, shared, “This milestone means a lot more than numbers, it represents ten years of resilience, innovation, and teamwork. We took a risk when we left our jobs to pursue what was then an uncertain idea. Today, that idea has become a recognized institution helping brands make sense of their reputation and impact with credible data and analytics. It has been a decade of growth and learning, and we are only just getting started.”
Rukayat Yusuf, Senior Analyst, reflected on the company’s impact from an analyst’s lens, saying, “Working with P+ has been an opportunity to be part of something pioneering. We have not only provided insights for brands but also helped elevate the PR measurement profession itself. Being part of this journey has shown that excellence is built one dataset, one analysis, and one story at a time.”
As P+ Measurement Services celebrates this significant milestone, the company reaffirms its commitment to continuous innovation and collaboration, empowering communications and PR professionals across Africa with actionable insights that go beyond vanity metrics to drive meaningful impact.
By Aduragbemi Omiyale
Shoppers can get up to 85 per cent discount on some items on Nigeria’s leading online marketplace, Jiji, in the 2025 Black Friday campaign.
A statement from the company said the campaign, tagged Deals Na Water, will run from November 1 to 31, 2025. The discount is on products across top-selling categories like Phones & Tablets, Electronics, Fashion, Home & furniture, and more.
During the period, shoppers would be able to purchase items at unbeatable prices from verified sellers on the platform.
“This year’s Black Friday is designed to give Nigerians real value through massive savings that feel like deals flowing as freely as water. We’re thrilled to connect millions of buyers to genuine discounts from trusted sellers across the country,” the chief operating officer of Jiji Africa, Mr Maxim Makarchuk, commented.
“For sellers, this is the biggest opportunity to grow visibility and sell faster by offering at least 15% off to be featured on our official Black Friday page. We believe that when buyers win, sellers also win. That’s the marketplace advantage,” he added.
Recent industry data showed that over 70 per cent of Nigerians now search online first when looking for the best prices on essential items.
The country’s digital acceleration continues to reshape retail, with over 43 million active smartphone users and increased adoption of secure online buying platforms.
As consumers become more cost-conscious and focused on savings, trusted marketplaces like Jiji are positioned as the go-to source for verified deals and everyday affordability.
By Adedapo Adesanya
British franchise, The Body Shop, has opened a new beauty store in Lagos, a second chain following the launch in Abuja and a national e-commerce site earlier in the year.
The Body Shop, founded in 1976 in Brighton, England, by Dame Anita Roddick, is a pioneer in ethical beauty, offering high quality, innovation-driven skin care, body care, hair and makeup products made with natural and fair-trade ingredients from around the world.
The new opening marks an important step in the brand’s commitment to West Africa and its broader global growth strategy.
The new store in Lagos, located at Ikeja City Mall, brings the number of jobs created by the brand in Nigeria to over 20. The store will be home to the full range of Body Shop products, ranging from newly launched collections, such as Spa of the World, to its Most Loved products and ranges enriched with Community Fair Trade ingredients, including Shea, Tea Tree, and Aloe
With the customer placed at the heart of the store experience, locals and visitors alike will be welcomed through the signature dark green facade, into a world where confidence is beautiful.
Members of the expert in-store team will be on hand to guide customers through the product ranges, consult on skincare needs and even offer a relaxing hand massage or treatment at the sink.
Speaking at the launch ceremony hosted at his Residence, the British Deputy High Commissioner in Lagos, Mr Jonny Baxter said: “The Body Shop’s arrival in Lagos marks more than a business expansion. It’s a powerful symbol of the deepening UK-Nigeria trade relationship. With bilateral trade now at £7.9 billion and rising, Nigeria stands as the UK’s second-largest trading partner in Africa and our leading export market on the continent.
“We’re especially proud to see this franchise led by Shalom Lloyd MBE, a dynamic British-Nigerian entrepreneur whose work in skincare, healthcare, and women’s empowerment reflects the kind of innovative, purpose-driven partnerships we champion. Her collaboration with The Body Shop is a shining example of the impact UK-Nigeria cooperation can achieve.”
“Expanding into Lagos marks another step in The Body Shop’s global growth strategy. As we accelerate our presence across high-potential markets, West Africa plays an important role in shaping the future of our business. Lagos, as a dynamic commercial hub, allows us to connect with a new generation of consumers who share our belief that beauty can be a force for good,” said Mr Mike Jatania, CEO & Executive Chairman, The Body Shop.
“This is not just about opening a store, it is about deepening trade ties, creating opportunities, and showing the world what happens when values-driven business meets one of the most vibrant cities on earth,” added Mrs Shalom Ijeoma Lloyd MBE, General Manager, The Body Shop Nigeria.
The Body Shop has longstanding and meaningful connections to Africa, first forged by founder Dame Anita Roddick who built personal and professional ties to the region that have been carried forward by the brand and continue to thrive today.
They include partnerships with three Community Fair Trade suppliers – tea tree oil grown by smallholder farmers near Mount Kenya to shea butter handcrafted by women’s cooperatives in northern Ghana to moringa seed oil cultivated by wild harvesters in Rwanda’s eastern provinces.
According to a statement, The Body Shop brand believes in building sustainable, fair supply chains that empower women and support local communities.
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