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FBNQuest Designs Digital Asset Trust for Clients

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FBNQuest Digital Asset Trust

A platform to address the rising trend of digital commercial and investment activity in these times has been designed by FBNQuest.

The new initiative called FBNQuest Digital Asset Trust is in line with the company’s commitment to equipping clients with effective tools for generational wealth transfer.

A statement from the organisation explained that the product was created in response to an upsurge in online businesses and transactions by the investing public.

The solution aims to help individuals engage the services of professionals who will support with assessing associated risks and avoiding mistakes around how they organize their assets when investing through, or doing business on digital platforms, which could prevent the transfer of assets to intended beneficiaries in the future, the firm explained.

Also, FBNQuest said it has created a dedicated online platform where interested individuals can learn facts about estate planning as an important element in an individual’s overall financial plan.

The platform contains articles that explain basic concepts of estate planning and the various offerings that can be used to achieve financial goals.

Concepts such as Education Trusts for children, Islamic Estate Planning, Trusts for all types of owned assets, Wills, Executorship, and Power of Attorney; while podcasts with guest experts sharing insights on the ongoing Legacy Series are also available for listening, the company said.

Commenting on the offerings, the Managing Director of FBNQuest Trustees, Adekunle Awojobi stated that “The Legacy Series remains our contribution to broader efforts to demystify Estate Planning. We believe there are several opportunities individuals and investors are simply unaware they can take advantage of through FBNQuest Trustees, and we are committed to driving that awareness and providing strong support.”

Now in its seventh season, the Legacy Series campaign themed Building a Legacy that Lasts, continues to help individuals understand how to plan for the protection and seamless transfer of their wealth during their lifetime and after.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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NAFDAC Warns Consumers Against Fake Colgate Brand in Circulation

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Fake Colgate Brand

By Adedapo Adesanya

The National Agency for Food and Drug Administration and Control (NAFDAC) has alerted the public to the distribution of unregistered and suspected counterfeit Colgate toothpaste brand in Nigeria.

In a public notice shared on X (formerly Twitter), the agency said its Post-Marketing Surveillance Directorate received a complaint regarding the sale of the products in Kaduna State by a shop owner.

Following an investigation, officials of the food and drugs surveillance organisation visited the outlet and discovered two suspected counterfeit products branded as Coglaet ActivGel 100g and Coglaet Herbal 100g. The spellings were not only the indicator, but the production standards.

According to the agency, the shop owner disclosed that the items were sourced from a door-to-door sales representative but could not provide proof of purchase.

NAFDAC stated that the products failed to meet regulatory standards for registration and quality assurance, warning that they pose potential risks to public health and safety. It also added that the stated manufacturer could be traced to Baiyun District, Guangzhou, China.

The agency confirmed that the items have been removed from circulation, while efforts are ongoing to trace those responsible for their distribution.

NAFDAC urged consumers to remain vigilant and report any suspected sale of substandard or counterfeit regulated products to the nearest office, via its hotline or official email channels.

In a statement, NAFDAC said, “All NAFDAC zonal directors and state coordinators have been instructed to conduct surveillance and mop up the unregistered and counterfeited products if found within their zones and states.

“Distributors, retailers, and consumers are hereby advised to exercise caution and vigilance within the supply chain to avoid the distribution, sale, and use of counterfeit products. The products’ authenticity and physical condition should be carefully checked.”

Consumers are advised to report any suspicion of the sale of substandard, falsified, or counterfeit regulated products to the nearest NAFDAC office, call NAFDAC on 0800-162-3322, or via email: [email protected]. For complaints, the Reforms Unit can be reached: 09097630506, 09097630507, or email: [email protected]

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Airtel Nigeria Suspends Airtime, Data Lending Services

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Airtel Nigeria SIM update

By Modupe Gbadeyanka

Barely 24 hours after MTN Nigeria announced the suspension of its data and airtime lending services, another operator, Airtel Nigeria, has followed suit.

In a statement on Friday by its Director of Corporate Communications & CSR, Mr Femi Adeniran, Airtel Nigeria said it would not no longer offer the airtime and data credit services for now.

However, the company noted that customers will continue to enjoy uninterrupted access to airtime and data purchases through its existing channels.

The Federal Competition and Consumer Protection Commission (FCCPC) introduced new rules on lending services in the country, and in compliance with this, telecommunications companies had to suspend rendering the services.

The affected services allowed eligible prepaid customers to borrow airtime or data and repay on their next recharge.

The Director of Marketing at Airtel Nigeria, Mr Ismail Adeshina, in the statement, noted the suspension of the services was to “align our operations with evolving requirements.”

“Airtel Nigeria remains committed to the highest standards of compliance, transparency, and consumer protection, while continuing to innovate responsibly within Nigeria’s digital ecosystem,” he added.

The telco noted that the temporary suspension is not expected to have a material impact on its service standards across the country, promising to provide updates on the status of the service in due course.

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MTN Nigeria Stops Xtratime Airtime, Data Borrowing Service

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MTN Nigeria commercial paper sales

By Aduragbemi Omiyale

The airtime and data credit advance service offered by MTN Nigeria under the product name Xtratime has been temporarily suspended.

In a notice to the Nigerian Exchange (NGX) Limited on Thursday, MTN Nigeria explained that the decision to pause the service was due to regulatory compliance with the Federal Competition and Consumer Protection Commission (FCCPC).

However, it said customers could continue to purchase airtime and data through other alternative digital channels.

The company also disclosed that it does not expect the suspension of Xtratime to affect its topline because of its robust revenue mix.

“MTN Nigeria Communications Plc hereby notifies the Nigerian Exchange Limited and the investing public that the company has temporarily suspended its airtime and data credit advance service (Xtratime).

“This relates to the implementation of processes under the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations, 2025, which introduced a new compliance and licensing framework for entities providing digital or non-traditional consumer credit services.

“In the interim, customers continue to have access to alternative digital channels for airtime and data purchases.

“Given the scale within the revenue mix, we do not expect the temporary suspension to have a material impact.

“We are closely monitoring customer behaviour and usage trends and will provide an update on any quantified impact in our Q1 2026 results,” the notice signed by the company secretary, Ms Uto Ukpanah, read.

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