General
Africa Quality Assurance Centre in Ogun to Begin Operations Q2 2022
By Modupe Gbadeyanka
The construction of an Africa Quality Assurance Centre (AQAC) by the African Export-Import Bank (Afreximbank) has commenced in Ogun State, Nigeria.
The centre is the first in a series of quality assurance facilities Afreximbank intends to establish across Africa to support industrialisation across the continent by ensuring that products from the continent are manufactured to international standards to enable them to participate in intra-African and global trade.
The AQAC is strategically located on a 5-hectare plot of land allocated by the Ogun State Government along the Lagos-Ibadan Expressway.
The project site is 65km from Lagos, Nigeria’s main port city and commercial capital, and 75km from Ibadan, a major commercial and industrial hub in south-western Nigeria. It is also at the centre of a region known for export agriculture.
Business Post gathered that construction of the Ogun State AQAC commenced on February 25, 2021, and is expected to commence operations by the second quarter of 2022.
The facility will provide more than 400 jobs in the local area, including over 180 in the highly skilled areas of quality assurance, testing, inspection, and certification.
In addition, an on-site training academy will provide the public and private sector with training in standards and quality assurance, as well as the skills necessary for businesses to compete in regional and international markets.
It was learned that the centre will be a state-of-the-art facility with the capacity to offer testing, certification, inspection, and training services covering agricultural products.
The first-class quality infrastructure is considered critical in facilitating trade under the African Continental Free Trade Agreement (AfCFTA).
A world leader in testing, inspection, and certification, Bureau Veritas, is the technical partner on the project and will manage and operate the facility.
The partnership between Bureau Veritas and Afreximbank will ensure that AQAC meets the ISO 17025 standard for testing and calibration laboratories, to ensure the credibility and reliability of the range of services provided, including physical and chemical testing, contaminant analysis, microbiological testing, water analysis, soil analysis, plant analysis and organic substrate analysis, among others.
Courtney Michael Partnership Nigeria Limited, a Nigerian based company specialised in project management and construction management services, are the project managers, while Monterosa Construction Ltd, Nigeria and Lambert Electromec Nigeria Ltd are providing construction services.
“African businesses are set for a major step-change as the AfCFTA opens up new markets across the continent and the globe. To make their mark in countries around the world, African products must meet international standards.
“The AQAC in Ogun State will help deliver the highest quality African goods, strengthening their competitiveness and providing confidence to buyers.
“This is an important step, not only in underpinning the Made-in-Africa brand but as a driver for greater exports, increased manufacturing and more resilient economies across the continent,” the President of Afreximbank, Mr Benedict Oramah, said.
On his part, the Senior Vice President of Bureau Veritas Africa, Mr Marc Roussel, said: “We are very proud to be involved in this project and believe it can effectively shape trust between companies, public authorities and consumers.
“The AQAC will help improve the quality of Nigerian agricultural and food products, providing a boost to businesses and ensuring the well-being of local consumers.
“At the same time, compliance with international standards will facilitate access to export markets and thus increase the economic activity and employment in Nigeria.”
By Adedapo Adesanya
The South African Consulate General in Lagos, in partnership with Brand South Africa and the Development Bank of Southern Africa (DBSA), is hosting the 4th edition of the South Africa Focus Week in Lagos, Nigeria, from April 22 – 26, 2026.
The annual platform continues to grow as a strategic initiative aimed at fostering social cohesion between South Africans and Nigerians while positioning South Africa as a preferred destination for business, tourism, and education. Since its inception in 2023, South Africa Focus Week has attracted over 1,500 participants, bringing together stakeholders from across sectors, including trade and investment, arts and culture, tourism, aviation, and the culinary industry.
The 2026 edition holds particular significance as it coincides with the 30th anniversary of South Africa’s democratic Constitution, enacted in 1996, as well as 32 years of unbroken diplomatic relations between South Africa and Nigeria, established in February 1994. These milestones underscore the enduring partnership between the two nations, rooted in shared history and strengthened through formal agreements and ongoing collaboration.
The 2025 economic relationship between South Africa and Nigeria reflects a strategically significant, multi-dimensional partnership anchored in trade, energy security, investment flows, and strong institutional cooperation. While bilateral trade remains structurally imbalanced – with South Africa exporting US$468.48 million and importing $1.69 billion, resulting in a $1.22 billion deficit – this dynamic is largely driven by South Africa’s reliance on Nigerian crude oil, positioning the relationship as one of strategic interdependence rather than imbalance alone.
This partnership is further elevated by the relative economic weight of both countries. According to IMF projections, South Africa’s economy is valued at approximately $443.6 billion, while Nigeria’s stands at around $334.3 billion in nominal terms for 2026. As two of the largest economies on the continent, their bilateral engagement constitutes a central axis of African economic activity, with disproportionate influence on the success of continental integration efforts.
Beyond trade, the relationship is reinforced by deep two-way investment linkages. South African firms -including MTN Group, Shoprite, and Standard Bank – maintain a strong presence in Nigeria, while Nigerian companies such as Access Bank and Paystack have established a growing footprint in South Africa. Although investment flows are asymmetrical and some Nigerian firms have faced operational challenges, these exchanges reflect an emerging bi-directional economic corridor that extends beyond goods trade into services, finance, and digital innovation.
Aligned with Brand South Africa’s mandate to build the country’s global reputation and competitiveness, the week-long programme will convene leaders from government, business, civil society, academia, and the media. Discussions will focus on leveraging the African Continental Free Trade Area (AfCFTA) as a tool for market access and global positioning, with Nigeria serving as a key focal point.
The South Africa Focus Week has features a series of high-level engagements and cultural activities designed to deepen economic ties and promote collaboration: South Africa–Nigeria Infrastructure Investment Conference (April 22, 2026) which was held under the theme South Africa–Nigeria Partnership: Unlocking Infrastructure Opportunities,” the conference will bring together key stakeholders in infrastructure development to explore collaborative projects in road, rail, and transportation systems.
The forum also examined the role of Public–Private Partnerships (PPPs) and facilitated discussions on project financing and implementation with institutions such as the DBSA and Nigeria’s Infrastructure Concession Regulatory Commission (ICRC).
This was followed by the 2nd Economic Diplomacy Roundtable (Thursday, April 23, 2026), which was hosted in partnership with MTN Nigeria under the theme Role of Technology in Infrastructure Development, the roundtable will convene senior government officials, private sector leaders, and industry experts to identify investment opportunities and strengthen strategic partnerships.
Friday, April 24, was for Arts and Culture Experience, which is a dedicated cultural day will showcase Lagos’ creative spaces and features a panel discussion on South Africa’s arts, film, music, and culture. The programme includes a South African film screening, engagements with filmmakers, and a networking reception aimed at fostering collaboration between the creative industries of both countries.
The event continues on Thursday, April 25, with Freedom Day Celebration and Closing Ceremony. This commemorative event will celebrate 30 years of South Africa’s Constitution, 32 years of freedom and democracy, and the enduring diplomatic relations between South Africa and Nigeria. The ceremony will also provide an opportunity to reflect on outcomes from the week and outline future areas of cooperation.
The celebration forms part of Brand South Africa’s Global South Africans Programme, which recognises and connects South Africans in the diaspora as ambassadors of the nation’s values and identity.
The week climaxes with the 4th edition of the South Africa Golf Tournament at Ikoyi Golf Club on Saturday, April 26, 2026, which will be done in partnership with Crossflex International.
According to a statement, the event aims to strengthen people-to-people relations through sports diplomacy, bringing together South African and Nigerian golfers in a spirit of camaraderie and collaboration.
By Modupe Gbadeyanka
The former chairman of the defunct Skye Bank Plc, Mr Tunde Ayeni, has been apprehended by the Economic and Financial Crimes Commission (EFCC).
Spokesperson of the anti-money laundering agency, Mr Dele Oyewale, confirmed the arrest of the businessman on Friday but declined to provide further details, according to TheCable.
Mr Ayeni was accused of diverting the N36.5 billion and $30 million loans from Polaris Bank Limited to companies with which he has links.
He was alleged to have obtained the credit facilities for marine security, electricity distribution, and real estate projects, but moved them to telecom investments tied to NITEL/MTEL assets via a NATCOM account.
After the Central Bank of Nigeria (CBN) revoked the operating licence of Skye Bank in 2018, it nationalised it to Polaris Bank.
The EFCC has been looking into the alleged diversion of funds by Mr Ayeni, resulting in his arrest in Abuja on Thursday, April 23, 2026.
He is being grilled over the matter and would be arraigned in court once the investigation is concluded.
This is not the first time Mr Ayeni has been nabbed and probed by the EFCC, as this happened a few months after his bank lost its licence.
The then acting spokesman for the EFCC, Mr Tony Orilade, said Mr Ayeni was quizzed by detectives over issues related to fraud and embezzlement allegedly committed by him when he was Chairman of the bank a few years ago.
By Adedapo Adesanya
“We are fully committed to working with the new Commissioner of Police and giving all necessary support towards the successful discharge of his responsibilities.”
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