Economy
Interswitch’s Eromosele Among Top 100 Global Marketing Leaders
By Modupe Gbadeyanka
The Group Chief Marketing and Communications Officer of Interswitch Group, Ms Cherry Eromosele, has been recognised as one of the Global Top 100 B2B Marketing Leaders in Technology in 2021.
Ms Eromosele was recognised in the latest annual list released by the global business leadership community, HotTopics.HT, which rewards individuals who are trailblazers in the use of new technologies to drive innovation within the marketing function.
The platform also recognises ambassadors for the B2B marketing community inside and outside of their own organizations, as well as those who have demonstrated empathy and transformational leadership during these extraordinary times.
Announcing its list of Global Top 100 B2B Marketing Leaders in Technology 2021, the international platform recognized leading marketing professionals across global markets practising in the technology space based on selections of an international jury of marketing leaders which included Lisa Gilbert, Chief Marketing Officer and GM of IBM Marketing Services, Mehul Kapadia, Global Head of Marketing at Vodafone Business and Matt Preschern, Chief Marketing, Global CMO at Forcepoint. Interestingly, only two females of African origin made the global list. They are Interswitch Group’s Cherry Eromosele from Nigeria and South Africa’s Bernice Samuels, Group Executive and Chief Marketing Officer at MTN.
Speaking on the nomination, Ms Eromosele expressed her delight and gratitude to the organizers for the special recognition, stating that it will further spur her to continue delivering excellent marketing leadership and to the quest to continue to break new ground in the exciting space of fintech marketing, further building on the work she’s done at Interswitch over the last seven years.
She also expressed appreciation to her team for their support and commitment to delivering innovative marketing solutions.
“Whilst my career trajectory and quest for continuous learning and improvement may have played defining roles in the journey to this point, I have also been fortunate to have worked with brilliant and supportive marketing professionals from the inception of my career, and their impact has contributed to my growth trajectory.
“I am indeed grateful to them all, including my unique marketing team here at Interswitch and the organizers for this special recognition,” Ms Eromosele added.
Ms Eromosele, a dynamic and performance-driven professional with over 25 years of versatile, multi-industry functional and leadership experience, has distinguished herself professionally with a proven track record of success in product and marketing innovation, hence her recognition as one of the amazons changing the landscape in the global marketing space.
Prior to this nomination, she has been awarded in several capacities including; Marketing Personality of the Year in Nigeria by Marketing Edge and special recognition amongst the Top 50 Marketing Professionals in West Africa at the 7th edition of the annual Marketing World Awards held in Accra, Ghana.
Following her enthusiasm and support for women empowerment and girl child development, Cherry was recently named as one of the #100 Most Inspiring Women in Nigeria by ‘Leading Ladies Africa’, a compendium honouring phenomenal Nigerian women.
This global platform has continued to celebrate B2B marketing leaders who have excelled in their contributions to the growth of marketing across the world.
Following the selection and publication of the final 100, the successful B2B marketers will be invited to a Thought Leadership event to share insights and innovation with their peers.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) has unveiled a unified Taxpayer Identification (Tax ID) system for all taxable persons across the country as part of efforts to strengthen tax administration and improve transparency.
The agency announced the development in a public notice issued jointly with the Joint Revenue Board (JRB) on Monday.
According to the notice, the initiative is backed by Sections 6, 7, and 8 of the Nigeria Tax Administration Act, 2025, which mandate every taxable person in Nigeria to obtain a Tax ID, in a wider move to expand the country’s tax base.
The NRS said the new framework is designed to create a centralised and harmonised taxpayer database that would enhance interactions between taxpayers and revenue authorities at both federal and sub-national levels.
“The Tax ID will serve as a single, unified identity for all taxpayers, enabling seamless interaction with tax authorities at both federal and sub-national levels. It is designed to consolidate taxpayer records, eliminate duplication, and ensure more efficient management of tax-related information,” the agency stated.
The revenue agency explained that the new system would simplify tax compliance procedures, including taxpayer registration, filing of returns, and payment processes.
According to the NRS, the framework is also expected to improve accountability and reduce leakages in tax collection by creating better visibility and tracking of taxpayer information nationwide.
“The initiative will simplify tax compliance processes, including registration, tax filing, and payment procedures. The system will improve transparency by enabling better visibility and tracking of taxpayer records while reducing leakages and improving accountability in tax collection. The framework will also harmonise taxpayer information across all levels of government,” the notice added.
The agency further disclosed that the new Tax ID system would replace the existing Tax Identification Number (TIN) Validation API currently used by Ministries, Departments and Agencies (MDAs), financial institutions, and other organisations for taxpayer verification.
By Adedapo Adesanya
Three bellwether stocks weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.31 per cent on Monday, May 18.
This brought the NASD Unlisted Security Index (NSI) by 54.71 points to 4,133.70 points from 4,188.41 points, and shrank the market capitalisation by N32.73 billion to N2.473 trillion from N2.506 trillion.
Yesterday, FrieslandCampina Wamco Plc contracted by N12.45 to sell at N146.55 per share compared with last Friday’s closing price of N159.00 per share, Central Securities and Clearing System (CSCS) Plc declined by N2.34 to N70.00 per unit from N72.34 per unit, and NASD Plc lost 50 Kobo to trade at N34.50 per share versus N35.00 per share.
The trio overpowered the N5.56 gained Newrest Asl Plc. This stock ended the trading session at N61.15 per unit, in contrast to the previous session’s N55.59 per unit.
During the trading day, the volume of securities traded by investors slid by 56.1 per cent to 514,142 units from 1.2 million units, and the value of securities dropped 29.8 per cent to close at N17.4 million versus N29.8 million, while the number of deals jumped 12.5 per cent to 27 deals from 24 deals.
Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 60.8 million units exchanged for N4.1 billion, and Okitipupa Plc with 27.9 million units traded for N1.9 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units transacted for N1.2 billion.
By Adedapo Adesanya
It was a horrible day for the Nigerian Naira in the different segments of the foreign exchange (FX) market on Monday, May 15, as its value further weakened against the United States Dollar.
In the black market window, the Naira lost N5 against the Dollar yesterday to sell for N1,390/$1 compared with the previous value of N1,385/$1, but at the GTBank forex counter, it remained unchanged at N1,383/$1.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), the Nigerian currency depreciated against the greenback by N2.66 or 0.19 per cent to sell for N1,373.70/$1 compared to last Friday’s rate of N1,371.04/$1.
Equally, it fell against the Pound Sterling in the same market segment by N9.05 to trade at N1,839.66/£1 versus N1,830.61/£1, and lost N5.42 on the Euro to close at N1,600.49/€1 versus N1,595.07/€1.
The performance of the local currency during the session indicates early worries despite all signals pointing to stability, amid improved Dollar sales by the Central Bank of Nigeria (CBN), with steady, higher oil receipts to bolster the nation’s reserves.
Activity at the market showed that turnover rose 57.3 per cent to $76.29 million on Monday from $48.49 million posted on Friday.
Over the weekend, S&P raised Nigeria’s credit ratings for the first time since 2012 and highlighted improved FX market liquidity and $10 billion turnover recorded in April 2026 as one of the major gains of the CBN-led FX reforms.
The agency said the liberalisation of the exchange rate has bolstered access to foreign currency and enabled a market-driven exchange-rate environment while supporting investor and consumer confidence.
Meanwhile, the cryptocurrency market was bullish on Monday as investors monitored developments in the Iran conflict and weighed the impact of surging oil prices on inflation and US interest-rate expectations.
Ethereum (ETH) gained 0.7 per cent to trade at $2,134.10, Cardano (ADA) rose by 0.6 per cent to $0.2515, Solana (SOL) expanded by 0.3 per cent to $85.11, Binance Coin (BNB) jumped 0.2 per cent to $643.29, TRON (TRX) increased by 0.03 per cent to $0.3565, and Bitcoin (BTC) advanced by 0.02 per cent to $76,912.12.
On the flip side, Dogecoin (DOGE) slid by 1.5 per cent to $0.1044, and Ripple (XRP) decreased by 0.5 per cent to $1.38, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 apiece.
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