Economy
Lagos to Partner ICAN to Boost Informal Sector
By Dipo Olowookere
Lagos State Governor, Mr Akinwunmi Ambode, has promised to work in collaboration with the Institute of Chartered Accountants of Nigeria (ICAN) in order to boost the informal sector of the state’s economy.
Mr Ambode made this disclosure on Tuesday when the group, led by its President, Mr Ismaila Zakari, paid a courtesy visit to him at the Lagos House in Alausa, Ikeja.
Governor Ambode thanked the institute for the skill sets inculcated in him 30 years ago when he became a professional accountant, saying that those skills were very relevant and still useful in administering the State.
“Yes, there are leaders that come and go at different times, but the wish of God that an ICAN member should be at the helm of affairs of Lagos State at a time when it is so problematic, at a time when revenue is going down and at a time we want to protect our people from unimaginable taxation, but again the skill sets to be able to put all these resources together for the benefit of humanity is encouraging.
“I just want to encourage ICAN that whatever are the ideals and principles of the body are not in vain.
“The products are here for people to see and this is what we want to commend to other people and other professionals that ICAN has come a long way and ICAN has proven also that the leadership of this country is actually in the hands of those who have the public finance expertise to lead this country ahead which we have proven by what we have done in the last two and half years.
“There is no miracle in what we are doing, the fact is that it is about our skills and the knowledge that the Institute has impacted in all of us for which we are proud of,” Mr Ambode said.
Besides, the Governor acknowledged that though his administration was implementing the N25billion ETF, he would nonetheless collaborate with ICAN to boost the informal sector especially in areas of entrepreneurship skills and capital.
According to him, “There are too many people that are unemployed and there are too many people that are creative and innovative but again they don’t have that support or the capital to do the things they ought to do and so if we have collaborators like ICAN, we will also put some money there because it is about Lagosians, it is about employment and it is about growth and development,” Governor Ambode said.
He also pledged to uphold and scale up the partnership that had always existed between the State Government and ICAN.
On his part, President of ICAN, Mr Ismaila Zakari, lauded the various initiatives and programmes of Mr Ambode, saying it confirms that chartered accountants can add value to governance in Nigeria, describing the Governor as a worthy ambassador of the Institute.
MR Zakari said the remarkable achievements of the Governor in office so far were worthy of emulation by other leaders.
He recalled that despite the economic challenges in the country in 2016, Lagos State, under Governor Ambode, raked in N287 billion as internally generated revenue, a figure ranked among the best the State ever generated, while the Governor also fulfilled his major electioneering campaign by implementing the N25 billion Employment Trust Fund (ETF), which he said had immensely scaled up entrepreneurship and reduced unemployment.
While noting the reconstruction of 114 inner roads across the 57 Local Government Councils in the State, Mr Zakari also commended the Light Up Lagos project and the Agric initiative aimed at encouraging local production of rice, saying that the remarkable initiative had greatly reduced rice importation and enhanced foreign exchange of the country.
The ICAN President said, “These momentous achievements are testimonies not only to Governor Ambode’s enviable track record of service to the good people of Lagos State, but they are also indelible evidence of the value that chartered accountants can add to governance.
“We are truly proud of your achievements in office and therefore warmly commend and hold you out as a worthy ambassador of the accounting profession from whom others in governance should take a cue.”
While seeking the incorporation of accountants under the ICAN technician scheme into the N25 billion ETF, Mr Zakari also invited Governor Ambode to deliver a lead paper on the theme: ‘Young Professionals: Emerging Leaders of Change and Nation Building,’ at the 47th edition of the annual Accountant Conference.
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.
