Economy
Redefining Trade Relations Between Nigeria and China
By Stanbic IBTC Bank
Stanbic IBTC Holdings, a member of Standard Bank Group, has continued to serve as a connecting link in facilitating trade transactions between Nigerian and Chinese importers, thereby fostering international trade.
As part of its efforts to boost trade relations between the two nations, Stanbic IBTC Holdings, through its banking subsidiary, has developed several solutions for boosting favourable business deals and trade relationships between Nigerian business owners and their Chinese counterparts.
In August 2022, the organisation held its 2022 Africa-China Trade Expo to promote trade relations and boost economic prosperity in the two regions.
The expo themed Synergy for Growth featured a masterclass and an Africa-China Trade Solutions (ACTS) presentation. One of the initiatives through which Stanbic IBTC Bank has been redefining trade relations between Nigeria and China is the ACTS propositions, aimed at allowing African enterprises to explore new markets, expand their customer base and create a mutually beneficial relationship between the two countries.
Ade Otukomaya, Head, Africa China Banking, Stanbic IBTC Bank, said that the financial institution was always exploring opportunities to add value to its clients’ businesses.
He said: “The Nigerian agricultural sector is replete with diverse opportunities. Being able to effectively harness these opportunities will drive agricultural development and expand agricultural export. Overall, agriculture experts are of the view that the country has the potential to generate substantial FX inflows for the country, thereby reducing trade deficits.”
As part of the ACTS offerings, the Standard Bank China Trade Desk sources for capable Nigeria exporters of produce and finished products in demand by the Chinese public. The Trade desk receives demands from Chinese entities who want to order large quantities of agro-allied products from Nigeria. The desk also matchmakes buyers and suppliers under favourable prices, conditions and general terms in line with approved protocols between the two countries.
With the increasing demand for Nigerian goods on store shelves in China for the Chinese public to consume, Stanbic IBTC has developed a partnership with Pacific International Lines, a logistics service provider that will transport goods sourced from Nigerian exporters for export to China.
“Stanbic IBTC is harnessing these opportunities that Nigeria possesses by providing a platform for Nigerian and Chinese businesses to flourish. We have established market leadership in several financial services segments, our goal is to continually leverage our connections, knowledge, and experience in delivering impeccable service and value that makes our customers not just get ahead but emerge leaders in their respective business segments,” Ade added.
Despite the growth in trade, most Nigerian importers still face a myriad of challenges that limit their ability to order goods and services from a handful of trusted Chinese suppliers. In addition to that, language and cultural barriers also pose a challenge for African importers and Exporters when travelling and negotiating supplier agreements in China.
Through ACTS Solutions, Stanbic IBTC, via its parent company, Standard Bank of South Africa, has leveraged its partnership with the Industrial and Commercial Bank of China (ICBC) to connect African importers, especially in Nigeria, with a dedicated trade agent in China as well as enable them to tap into the vast opportunities that China presents as a trading partner.
Apart from eliminating language barriers, ACTS aims to assist Nigerian importers source and validating quality goods, safely and efficiently from the most competitive and verified suppliers in China.
The Agent Zhejiang International Trading Supply Chain Company Limited, otherwise known as Guomao, ensures that Nigerian importers get the best deals in areas such as sourcing the right suppliers for their businesses, negotiating the best prices and trade conditions on behalf of the clients, providing translators to facilitate trade negotiations and discussions, validate and ensure the quality of goods from the suppliers meet the agreed and required standards by clients, handle the shipping logistics and delivery to destination, depending on clients’ preference, amongst others.
Through this solution, Stanbic IBTC remains committed to connecting Nigerian and Chinese businesses, which will boost the volume of trade between both countries.
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.
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).
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.
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