Economy
TGI Group Seals Food Sponsorship Deal With NFF
By Modupe Gbadeyanka
An international investment and holding company with diversified interests and investments in Nigeria, Ghana, Republic of Benin, Morocco, UAE, South Africa, India and several other emerging markets, Tropical General Investments (TGI) Group, has announced a landmark agreement with the Nigerian Football Federation (NFF) to support the senior national football teams, in their quest to win laurels for Nigeria.
At a joint press briefing which took place at the Godswill Akpabio International Stadium in Uyo on Friday, the NFF unveiled the TGI Group as the official food sponsor of the Super Eagles for the next three years.
TGI Group is the parent company of WACOT Limited, Chi Limited and other companies, producers of household brands such as Big Bull Rice, CHIVITA, Hollandia Yoghurt and Renew Starch.
“We are enormously ecstatic to come on board as supporters of the Nigerian football national teams,” said Mr Onyekachi Onubogu, the Executive Director of TGI Group who represented the Group Managing Director, Mr Rahul Savara, “the sponsorship is a further demonstration of the commitment of our business to the development of Nigeria in all facets.”
“We strongly believe in our investments in the Agricultural value chain and its impact on the socio-economic development of Nigeria and this new partnership we are starting with the Nigerian Football Federation will allow us to expand our footprint to the development of football in the country.
“We are resolutely committed to increasing our investments in the Nigerian economy, increasing employment and local content while supporting the communities we operate in”.
Continuing, Mr Onubogu said, “The TGI Group has over three decades of experience in building local and regional sustainable businesses in fast moving consumer goods (FMCG), agriculture, agro-allied, healthcare, chemicals, etc.
He also disclosed that because of the agreement between his company and NFF, the TGI Group will be allowed to reward the best Nigerian player with the ‘Man of the Match’ award on the days of all qualifying matches.
It would be recalled that Vice President Yemi Osinbajo recently commissioned the integrated WACOT Rice Mill in Argungu, Kebbi State. The Vice President also commissioned the Edo State Fertilizer and Chemical Company Limited (ESFCCL), managed by WACOT Limited.
While emphasizing the unifying role of soccer in Nigeria, Mr Onubogu stated that the goal of his conglomerate is to ensure that the Super Eagles does not only qualify for the 2018 World Cup but that the team puts up an unprecedented impressive performance at the competition in Russia.
Speaking on behalf of the NFF, the President, Mr Amaju Pinnick commended the TGI Group for their timely support for the Senior National Male Football team while also appealing to other corporate organizations to emulate the gesture.
He further disclosed that with the sponsorship by TGI, the Board and Management of NFF are better convinced that the goal of participating and excelling in the 2018 World Cup by the Super Eagles will be a reality.
His words, “The coming on board of the TGI Group is going to be a tremendously exciting development for the team.
“The opportunity to have the support of TGI Group and the reward for the ‘Man of the Match’ will have a huge benefit, putting the team in the best place possible to achieve our goals.
“We also talk a lot about creating memories and no doubt working with TGI Group will create some fantastic memories.”
By Adedapo Adesanya
The Economic and Financial Crimes Commission (EFCC) has intercepted eight trucks transporting suspected illegally mined solid minerals in Benue State as it intensifies the crackdown on illegal mining activities in the North Central region of the country.
This was disclosed in a statement by the anti-graft agency, on its official X handle, where it confirmed the arrests of the individuals involved.
The EFCC stated that the trucks were seized on Wednesday, March 19 in the Katsina-Ala Local Government Area of Benue State.
According to the EFCC, preliminary investigations revealed that the minerals—believed to be fluorite and iron stones—were mined from unauthorized sites in Logo Local Government Area of the state.
Business Post reports that the Benue State government had paused all mining activities, as it was responsible for some of the crisis in the state.
“We are determined to combat the illegal mining of Nigeria’s mineral resources and bring perpetrators to justice. The suspects will be charged to court as soon as investigations are concluded,” EFCC tweeted on X, formerly known as Twitter.
Illegal mining has been a growing concern in Nigeria, with authorities warning that the illicit extraction of solid minerals deprives the country of valuable revenue and contributes to environmental degradation.
The EFCC was involved in the issue of mining to quell further economic losses facing the nation.
According to the Minister of Solid Minerals, Mr Dele Alake, the government is losing trillions of Naira to unregulated and illegal mining activities.
He disclosed earlier this week that the Federal Executive Council (FEC) had approved N2.5 billion for the procurement of an integrated solution framework to combat illegal and unregulated mining activities.
He also disclosed that his ministry had opted for dialogue and collaboration with state governors rather than confrontation, saying many governors were initially unaware of the constitutional framework governing mining, but have now been engaged through discussions facilitated by the Nigeria Governors’ Forum (NGF).
Mr Alake noted that states must collaborate with federal authorities in addressing illegal mining and related criminal activities.
By Aduragbemi Omiyale
As part of the 2025 Global Money Week celebration, over 200 students were recently selected and equipped with essential financial literacy skills.
This seminar on money management tips was put together by the Nigerian Exchange (NGX) Group Plc, in collaboration with the Central Bank of Nigeria (CBN) and MinieMoney.
It underscored a shared commitment to fostering financial inclusion and equipping young Nigerians with the knowledge required for long-term financial well-being.
The event was organised to mark the Global Money Week, is a global initiative currently in its 13th edition designed to promote financial education among young people, ensuring they develop the critical thinking skills needed to make informed financial decisions.
The 2025 theme, Think Before You Follow, Wise Money Tomorrow, reinforces the importance of strategic financial planning from an early age.
The Head of Trading and Products at NGX, Mr Abimbola Babalola, highlighted the transformative power of financial literacy in shaping students’ futures.
“The financial choices you make today will determine the quality of your life tomorrow. Understanding saving, investing, and responsible money management early on will put you on the path to financial success,” he stated.
Also, the Assistant Director of the Consumer Protection Department at CBN, Mr Christian Mordi, introduced the CBN’s ‘Sabi Money’ platform, designed to enhance financial education nationwide.
“Financial literacy extends beyond numbers; it is about developing discipline, patience, and informed decision-making skills that foster economic security,” he noted.
On his part, the chief executive of MinieMoney, Mr Gbolahan Faniran, emphasized the importance of early investment habits and leveraging the power of compound interest.
“Achieving financial success is not about following trends but about making intentional money choices today that ensure a secure future,” he said.
Business Post reports that students from Vivian Fowler Memorial College for Girls, Dansol High School, Kith and Kin Educational Schools, Caleb British International School, Lagos Preparatory and Secondary School, and The Bells Comprehensive Secondary School attended the programme.
They engaged in insightful discussions on financial literacy, investment strategies, and capital market operations, with the added opportunity to experience firsthand the dynamics of the NGX trading floor.
By Adedapo Adesanya
The trio of Geo-Fluids Plc, Food Concepts Plc, and Industrial and General Insurance (IGI) Plc were extended the stay of the NASD Over-the-Counter (OTC) Securities Exchange in the red region for another trading day, weakening the alternative stock exchange further by 0.13 per cent on Thursday, March 20.
Geo-Fluids Plc lost 15 Kobo to trade at N2.70 per unit compared with the previous day’s N2.85 per unit, Food Concepts Plc declined by 6 Kobo to close at N1.49 per share versus Wednesday’s closing price of N1.55 per share, and IGI Plc tumbled by 2 Kobo to settle at 37 Kobo per unit, in contrast to the 39 Kobo per unit it traded a day earlier.
As a result, the NASD Unlisted Security Index (NSI) went down by 4.36 points to close at 3,373.62 points, in contrast to the previous trading day’s 3,377.98 points.
In the same vein, the market capitalisation of the bourse depreciated by N2.51 billion to settle at N1.948 trillion compared with the preceding day’s N1.951 trillion.
During the trading session, the volume of securities traded at the bourse crumbled by 99.4 per cent to 201,873 units from the 31.3 million units recorded on Wednesday, the value of securities bought and sold by the market participants moderated by 97.7 per cent to N776,509.51 from the N33.3 million quoted a day earlier, and the number of deals carried out by investors decreased by 26.1 per cent to 17 deals from 23 deals.
When the market closed for the day, Impresit Bakolori Plc remained the most active stock by value (year-to-date) with 533.9 million units sold for N520.9 million, followed by FrieslandCampina Wamco Nigeria Plc with 13.0 million units valued at N505.1 million, and Afriland Properties Plc with 17.5 million units worth N359.5 million.
In the same vein, Impresit Bakolori Plc remained the most active stock by volume (year-to-date) with 533.9 million units valued at N520.9 million, trailed by IGI Plc with 69.9 million units sold for N23.7 million, and Geo-Fluids Plc with 44.1 million units worth N88.9 million.
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