Economy

MIPAD Educates Entrepreneurs Ways to Attract Investors

Published

6 years ago

05/09/2019

By Adedapo Adesanya

Capital is an integral part of business and its importance cannot be overlooked in Africa; this is why the Most Influential People of African Descent (MIPAD) has called on entrepreneurs to build their profiles so as to ensure easy access to investors and get opportunities and capital for their businesses.

This call was made by a panel of honourees comprised of Abayomi Awobokun, CEO, ENYO Retail and Supply; Dr. Ola Brown, Managing Director, Flying Doctors Nigeria; Obi Ozor, Managing Director, Kobo 360 (represented by Samuel Riou); Bunmi Akinyemiju, CEO, Venture Garden Group and Ukinebo Dare, Head, Edo State Skills Development Agency (EdoJobs), during the Class of 2019 100 Under 40 event organised by MIPAD, held at the Nigerian Stock Exchange on Friday, 30 August 2019.

Amongst the honourees who made this call was Abayomi Awobokun, during his opening remark at the event informed the audience that MIPAD was focused on changing the narrative about Africa and he encouraged honourees worldwide to leverage this global network to make major changes in the way Africa and Africans are seen by the world.

Supporting this during the panel discussion moderated by Ukinebo Dare, was Bunmi Akinyemiju, CEO, Venture Garden Group, who, speaking on this year’s theme Raising Capital in Africa, said there was a need to drive and encourage a better outlook for business looking for prospective investors in Africa.

He said “Entrepreneurs looking for prospective investors must have a good story, a consistent story that show their promises kept, and not just turning up at the investor’s door with a request for investment.”

Another member of the panel, Dr. Ola Brown, a medical doctor cum venture capitalist and Managing Director of Flying Doctors Nigeria, corrected the preconceived notion held by entrepreneurs about ideas, stating that ideas are not enough to attract investors but also the viability of these ideas in the market.

According to her, “it is true that investors look for those companies that can fill the gaps in the market but they also ensure that there is enough market in the gap to ensure good and timely returns on investment.”

Dr Brown then used the opportunity to call on entrepreneurs to increase the scope of their businesses and social circles to include people with clout and social stature in order to ease their search for investors.

On his own part during the panel discussion, Abayomi Awobokun, another noted that investors are always looking at the market realities and would go for businesses that are poised to maximally exploit these realities.

“You must show the problems they are solving as well as show passion and energy to solve those problems in order to attract investments.” He said.

Awobokun, using his capacity as Chief Executive Officer of ENYO Retail and Supply, listed other factors that brought about desirability to include a dedicated team to scout for investors, entrepreneurial resilience, a long-term investment horizon, the integrity of entrepreneur and in-house of corporate governance structure.

Kamil Olufowobi, Founder & CEO, MIPAD, during his goodwill messages to the 2019 honourees of the group disclosed that these leaders will be representing Nigeria, the largest country in the world of People of African descent, at MIPAD Recognition Week on the side-lines of the United Nations General Assembly (UNGA) in New York, slated for September 27th – October 3rd 2019.

“Honourees are decision-makers from over 60 countries worldwide, selected based on their political clout, business acumen, social media following and humanitarian endeavours in support of UN International Decade for People of African Descent (IDPAD) and UN Sustainable Development Goals (SDGs),” he explained.

Olufowobi also noted at the event which served as the luncheon for the organisation’s Sustainable Development Goals (SDGs) platform where its honourees and the global community can discover their primary SDGs numbers.

“We are excited to align all MIPAD honorees with creating social impact because influence can only be understood when it is manifested in making real change and impact in society,”

Olufowobi went on to disclose his primary SDG number is 17 and encouraged others to discover their primary social impact number within the frameworks of UN SDG at sdgs.mipad.org

Another highlight of the occasion was the presentation of a free Ethiopian Airlines ticket to the UNGA in New York City to a lucky winner.

Economy

NGX RegCo Delists ASO Savings from Stock Exchange

Published

24 minutes ago

16/01/2026

Dipo Olowookere

By Dipo Olowookere

ASO Savings and Loans Plc has been delisted from the daily official list of the Nigerian Exchange (NGX) Limited.

This action followed the revocation of the operating licence of the company by the Central Bank of Nigeria (CBN) in December 2025.

In a circular on behalf of the NGX Regulation (NGX RegCo) by Ugochi Eke, it was disclosed that the effective date of the delisting is today, Friday, January 16, 2026.

Already, the company has been notified of this development, according to the notice obtained by Business Post.

Before ASO Savings lost its operating licence, it had failed to meet some post-listing requirements, a part of the disclosure from the NGX RegCo stated.

“The board of NGX Regulation Limited via its decision dated January 1, 2026, approved that the step below should be taken pursuant to the process for regulatory delisting of issuers.

“The board has approved the delisting of ASO Savings and Loans Plc from the Nigerian Exchange Limited’s daily official list effective January 16, 2026.

“ASO Savings is hereby notified of this enforcement action and is advised to direct any communication in respect of the foregoing to [email protected].

“NGX RegCo was engaging the listed entity, concerning its outstanding post-listing obligations. However, due to the revocation of the operating license of ASO Savings by its primary regulator, the Central Bank of Nigeria (CBN) effective December 16, 2025; NGX RegCo will delist the entity from the daily official list effective January 16, 2026.

“In view of the foregoing, NGX RegCo has proceeded with publishing the name of the Company in the national dailies.

“The company has been duly notified of this enforcement action, and this publication serves as notification to the investing public, particularly shareholders of the company and investors in the Nigerian capital market,” the statement read.

Economy

Lokpobiri Warns Oil License Bidders Against Hoarding

Published

2 hours ago

16/01/2026

Adedapo Adesanya

By Adedapo Adesanya

The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, has issued a stern warning to oil and gas investors that petroleum licences in Nigeria are strictly for active development, not asset hoarding or speculative holding, declaring that operators must drill or risk losing their rights.

He made this admonition while delivering his message at the 2025 Nigerian Upstream Petroleum Regulatory Commission (NUPRC) Licensing Bid Round Conference in Lagos, where he outlined the government’s hardline stance on asset utilisation and investor accountability.

“The oil assets in portfolio are not mere symbols or souvenirs,” Mr Lokpobiri said, adding that, “Holders of licences are obligated to drill, drill and drill for a shared benefit for the Government, Nigerians and the operators.”

He stressed that the administration is determined to ensure petroleum assets are translated into tangible economic value, noting that licences are time-bound rights granted solely for productive use.

“These assets belong to the Federal Government, and licences are granted strictly for a defined period for productive use, not passive ownership,” the minister said. “Our licensing framework is designed to eliminate speculation and ensure that only serious, capable investors participate.”

Mr Lokpobiri also issued a strong caution to bidders seeking to participate in the 2025 licensing round, urging them to fully understand the process and obligations before submitting bids.

“As prospects take part in this bid round, a clear understanding of the modus operandi guiding the process is essential,” he said, recalling previous bid rounds where some winners attempted to reverse their commitments.

“Past experiences have shown instances where some winning bidders sought refunds based on unmet expectations or perceived asset limitations,” Lokpobiri stated. “Such actions are untenable, as there is no provision in law for the refund of a bid already won.”

According to him, the conference was convened to remove ambiguity and protect the integrity of the licensing system, stressing that the government would strictly enforce all contractual obligations arising from the process.

“This conference serves to provide clarity upfront,” he said. “Participants must be fully informed, deliberate and committed, as the Government will uphold the sanctity of the process and enforce all obligations.”

The minister’s remarks reinforce the Federal Government’s broader push to accelerate upstream development, boost production and attract only technically and financially capable investors into Nigeria’s oil and gas sector, amid renewed licensing activity under the Petroleum Industry Act (PIA).

Economy

NGX Removes Embargo on Trading in Premier Paints Stocks After Four Years

Published

2 hours ago

16/01/2026

Dipo Olowookere

By Dipo Olowookere

The suspension earlier placed on Premier Paints Plc, preventing investors from buying and selling its stocks on the Nigerian Exchange (NGX) Limited, has now been lifted.

The embargo was removed on Wednesday, a notice from the stock exchange, seen by Business Post, disclosed.

Almost four years ago, Premier Paints was suspended from the bourse due to the inability of its board to file the company’s financial results.

The NGX had on July 1, 2022, informed the investing community it had prohibited the trading of the organisation’s securities “in line with the provisions of Rule 3.1: Rules for Filing of Accounts and Treatment of Default Filing (Default Filing Rules).

The part of the rules provides that: “If an Issuer fails to file the relevant accounts by the expiration of the cure period, the exchange will; a) send to the issuer a second filing deficiency notification within two business days after the end of the cure period, b) suspend trading in the issuer’s securities, and c) notify the Securities and Exchange Commission (SEC) and the market within 24 hours of the suspension.”

In the latest disclosure dated Wednesday, January 14, 2026, and signed by the Head of Issuer Regulation Department of the NGX, Mr Godstime Iwenekhai, it was revealed that Premier Paints has now done the needful.

“The company has now filed all outstanding financial statements to Nigerian Exchange Limited.

“In view of the company’s submission of its outstanding financial statements, and pursuant to Rule 3.3 of the Default Filing Rules, which states that; The suspension of trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided The exchange is satisfied that the accounts comply with all applicable rules of the exchange. The exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension, that the suspension has been lifted, trading license holders and the investing public are hereby notified that the suspension placed on trading on the shares of Premier Paints Plc was lifted (on) Wednesday, January 14, 2026,” the circular stated.