General
Elegbe Tutors Companies on Crisis Management
Companies have been advised to have a crisis management plan in order to prepare for potential crisis and keep their businesses afloat.
This call was made by the founder and Group Managing Director at Interswitch, Mr Mitchell Elegbe, who stressed that the impact of coronavirus pandemic, which has left businesses across the globe counting losses, was a wake-up call for companies to take proactive measures to handle crisis.
Speaking during a WIMBOARD Institute webinar tagged The role of a Board in Anticipating and Managing Crisis last Thursday, he said decision makers must take a long-term view of the business and plans for seasons.
Using the Interswitch Group as a case study, he disclosed that prior to the novel coronavirus disruption, the firm had developed a proactive crisis management plan that has enabled it navigate the business environment seamlessly, was and continue to offer top-notch services to its esteemed customers, during the pandemic.
He disclosed that while it is true that the company did not envisage the coronavirus outbreak, the board was not caught unprepared by the impact of the pandemic.
He explained that as far as the Interswitch Group’s board was concerned, the group’s vision is captured as a landing zone and a well-defined plan is put in place.
Not unmindful of multiple risks that had propensity to crystallize along the way, the board proactively set out to identify and activate triggers that would help achieve the vision and mitigate traps that could potentially have detrimental effect on the actualization of the business’s vision.
He added that at Interswitch, four major indicators were tracked as potential crisis traps: organizational disruption, unrehearsed major market province, technology lag or solution failure and poor business practices or governance.
“The interesting thing about COVID-19 is that it threw up all four challenges simultaneously and the impact was major.
“However, because we track these things from time to time, we envisaged its possibility and were able to navigate the business in a way that has helped us cope with the current situation,” he said.
Describing an effective board during a crisis, Mr Elegbe explained that having a supportive board with people of different backgrounds, bringing different perspectives to bear during a crisis especially as it concerns the external environment, is critical to an effective board and gives the CEO lots of confidence to navigate the crisis.
While describing the role of a founder during a crisis, he explained that they are highly integral as they are accountable to the board and their role is to manage the business for profitability.
He opined that in a crisis, founders should be more focused on getting the solution that would steer the business out of the crisis and still remain in business post-crisis.
WIMBOARD Institute is one of the four platforms of the Nigeria Women on Boards (WIMBOARD) program that was launched in 2012. The WIMBOARD Institute is targeted at providing training, education and opportunities for prospective and serving Board members.
Other speakers on the webinar included: Ibukun Awosika, Chairman Board of Directors, First Bank of Nigeria Limited, Oyeyimika Adeboye, Managing Director, Cadbury Nigeria; Bisi Lamikanra, Partner & Head of Advisory Services, KPMG Nigeria; Audrey Joe-Ezigbo, Deputy Managing Director, Falcon Corporation. The Webinar was moderated by Cecilia Akintomide, Independent Non-Executive Director, FBN Holdings Plc.
By Adedapo Adesanya
The Nigerian Maritime Administration and Safety Agency (NIMASA) has pledged its commitment to provide the regulatory leadership, technical coordination, and stakeholder engagement required to successfully develop and implement a robust National Action Plan on maritime decarbonization in Nigeria.
The Director General of the agency, Mr Dayo Mobereola, made this known during the National Stakeholders’ workshop on the development of a National Maritime Decarbonization Action Plan, further describing the workshop as a critical step in actualising the Federal Government’s blue economy and climate objectives.
Represented by the Executive Director, Operations, Mr Fatai Taiye Adeyemi, the NIMASA DG underscored the significance of the IMO GreenVoyage2050 Project, a technical cooperation initiative /designed to support developing countries in implementing the IMO GHG Strategy.
According to him, the National Action Plan being developed will reflect national realities, leverage existing capacities, address identified gaps, and align with broader economic and environmental priorities of the federal government.
Mr Mobereola stressed that “this transition is not merely about compliance with international obligations, it is about safeguarding our marine environment, protecting public health, strengthening the blue economy, and ensuring that our maritime industry remains competitive and future-ready”, the DG said.
Also speaking at the event was the Technical Manager of the IMO GreenVoyage2050 Project, Ms Astrid Dispert, who highlighted that the overarching objective of the initiative is to advance a coherent and globally aligned regulatory framework to accelerate maritime decarbonization.
She also emphasised that NIMASA plays a pivotal role in driving the project at the national level.
The IMO GreenVoyage2050 Project provides technical expertise and institutional support to assist countries in developing and implementing National Action Plans that promote sustainable shipping practices, encourage investment in clean technologies, and strengthen capacity for long-term emissions reduction.
Through this collaboration, the federal government is advancing deliberate steps towards maritime decarbonization, reinforcing its commitment to global climate goals and ensuring a cleaner, greener, and more sustainable future for the sector.
By Adedapo Adesanya
The Bureau of Public Procurement (BPP) has directed all Ministries, Departments and Agencies (MDAs) to comply with its digital submission process effective March 1.
The directive was contained in a circular signed by the Director-General of the Bureau, Mr Adebowale Adedokun, noting that the move was part of the bureau’s commitment to digital transformation and paperless governance.
It explained that the transition followed an earlier circular of Aug. 4, 2025, which introduced electronic submission procedures.
According to the bureau, it has successfully moved from physical filings to a dedicated e-mail service for document submissions and is now advancing to a more robust and integrated system.
The circular announced the inauguration of the BPP Digital Submission Portal, a web-based platform designed to enable MDAs submit procurement-related documents directly to the Bureau.
It stated that the automated platform would streamline the submission process, enhance transparency and ensure accelerated tracking of procurement-related documents and petitions.
“With effect from March 1, all MDAs will be required to use the portal to submit requests for ‘No Objection’ Certificates, approvals for ‘No Objection’ for special procurements, clarifications and status updates on submissions,” the bureau said.
It added that the portal would be hosted on the Bureau’s official website and would become fully operational from the effective date.
The bureau warned that physical submissions or manual hand-deliveries would no longer be prioritised and would eventually be rejected following the full transition to the digital platform.
It urged accounting officers to brief their procurement departments and ICT units on the development to ensure seamless processing of procurement activities from March 1.
It further advised MDAs to contact the Bureau via its official email for information on the onboarding process and integration into the portal.
The bureau emphasised that full compliance by all MDAs was required to ensure a smooth transition and avoid delays in the implementation of the 2026 fiscal year procurement processes.
By Adedapo Adesanya
The Senate has asked President Bola Tinubu to remove the Registrar General of the Corporate Affairs Commission (CAC), Mr Hussaini Ishaq Magaji, from office.
The Senate Committee on Finance, while passing a resolution in Abuja on Thursday, accused Mr Magaji, a Senior Advocate of Nigeria (SAN), of failing to honour the Senate’s invitations to account for the finances of his agency.
“He refused on so many occasions to honour our invitation to appear before this committee.
“We have issues with the reconciliation of the revenue of CAC.
“Each time we invite him, he gives us excuses,” the Chairman of the committee, Mr Sani Musa, said as the committee passed the resolution.
CAC was part of a group of agencies that the House of Representatives Public Accounts Committee (PAC) recommended zero allocation for the year 2026, for allegedly failing to account for public funds appropriated to them.
The committee, at an investigative hearing held two weeks ago, accused CAC and some other ministries, departments and agencies (MDAs) of shunning invitations to respond to audit queries contained in the Auditor-General for the Federation’s annual reports for 2020, 2021 and 2022.
The PAC chairman, Mr Bamidele Salam, stated that the National Assembly should not continue to appropriate public funds to institutions that disregard accountability mechanisms, saying this will create fiscal discipline and strengthen transparency across federal institutions and conform with extant financial regulations and the oversight powers of the parliament.
“Public funds are held in trust for the Nigerian people. Any agency that fails to account for previous allocations, refuses to submit audited accounts, or ignores legislative summons cannot, in good conscience, expect fresh budgetary provisions. Accountability is not optional; it is a constitutional obligation,” he said.
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