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Fils Launches Payment Platform to Transform ESG, Sustainability

By Adedapo Adesanya
Fils has launched a platform to help global businesses turn intent into action when integrating sustainable values into the core of digital payments.
The new innovation paves the way for trust and safety in carbon markets, bringing together buyers with capital, and suppliers with high-integrity carbon credits, at the rate and scale required to rebalance the planet.
Designed as a holistic, enterprise-grade B2B2C product offering, Fils leverages the power of leading technologies for its end-to-end infrastructure to transform various industries, including financial services, hospitality, and e-commerce. This makes it easier for businesses to act on the core values of Environmental, Social, and corporate Governance (ESG).
With major partnerships with some of the leading names in the industry, soon to be announced – the company has been founded by Mr Nameer Khan, a respected future fintech leader who has been recognised by his peers for his outstanding contributions to industry-wide growth and collaboration. He is also Chairman of the MENA Fintech Association (MFTA).
Fils’ unique pillars of technology are poised to transform the world of ESG, through an API-first digital payment infrastructure that makes sustainability a lifestyle and can be easily embedded into platforms across sectors.
The launch of Fils comes ahead of COP28 in Dubai, the United Arab Emirates (UAE) further reinforcing the need to act now. The global climate crisis is a pressing issue that can no longer be ignored; however, many companies fail to incorporate climate action into their core operations and transactions. ESG values are here to stay, thanks to consumer and investor demand for greater transparency and social responsibility from businesses, the company noted.
Companies across all industries are increasingly looking to align their ambitions with ESG principles and pursue opportunities that offer long-term societal benefits and business growth.
In a bold stride towards sustainable business practices, Fils aims to address ESG implementation challenges head-on, making it easier for businesses to play a vital role in driving a more sustainable future – one that is not only climate-neutral but also one that supports the most vulnerable in society – the financially excluded and those most impacted by global disasters.
Commenting on the launch of his new company, Mr Khan said. “Fils is a catalyst for the evolution of ESG enforcement and has the right team, technology, experience, and expertise to lead the market. With our robust infrastructure, it spells the end of greenwashing and clears a path towards greater accountability and implementation of actionable outcomes that can improve the sustainability of the world we live in.”
By taking a technology-first approach to sustainable action, Fils has created a game-changing digital ecosystem connecting payment infrastructure, organisations, impact makers and consumers. It is a best-of-breed fintech that enables organisations to increase the scalability of their sustainability practices and provides projects across 17 United Nations Sustainable Development Groups (UN SDGS) with the ability to receive digital payments faster, easier, more securely, and with greater transparency.
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Senate Probes Abuse of Federal Character Principle in NNPC, CBN, Others

By Adedapo Adesanya
The Senate is investigating all Ministries, Departments, and Agencies (MDAs) and even infrastructural development across the country to determine their level of compliance with Sections 14(3) and 14(4) of the 1999 Constitution (as amended), which focuses on the federal character principle.
The federal character principle mandates that the government at all its levels should reflect Nigeria’s diversity to ensure national unity and prevent domination and also ensure that all communities have fair and equitable representation in governance.
The upper chamber has mandated its Committee on Federal Character and Inter-Governmental Affairs to conduct a thorough investigation hearing into possible infringement of this principle.
This resolution followed a motion raised by Senator Osita Ngwu, who acknowledged the persistent challenges in achieving equity within Nigeria’s public service, including limited recruitment opportunities, skewed promotions based on years of service rather than merit, and a lack of mobility for workers outside the public sector.
Lawmakers also noted that despite constitutional provisions mandating fair representation across ethnic, linguistic, religious, and geographic lines, imbalances continue to exist.
The Senate specifically criticised several federal institutions, including the Nigerian National Petroleum Company (NNPC) Limited and its subsidiaries, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the National Agency for Food and Drug Administration and Control (NAFDAC) and the Nigerian Ports Authority (NPA), the Central Bank of Nigeria (CBN), among others, for allegedly failing to adhere to federal character mandates in their recruitment processes.
The committee is expected to report back within three months with findings and recommendations to ensure fair and equitable representation in federal appointments, promotions, recruitment and infrastructural distribution across the over 900 MDAs.
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EFCC Arrests 133 Suspects from Abuja Ponzi Scheme Academy

By Adedapo Adesanya
Operatives of the Economic and Financial Crimes Commission (EFCC) on Monday raided a Ponzi scheme academy and arrested 133 suspects in the nation’s capital, Abuja.
According to the EFCC’s spokesperson, Mr Dele Oyewale, who confirmed the operation in a statement on Tuesday, the suspects were apprehended at the Compensation Layout in Gwagwalada, Abuja, after receiving actionable intelligence about the academy’s activities.
“The academy, named Q University (also known as Q-Net), lures young Nigerians by promising them unrealistic profits.
“The recruits were trained to further recruit others, using the slogan Special Training for New Generation Billionaire.
“The suspects joined the scheme by filling out an Independent Representative Application Form, with promotional slogans like: I’m a Champion, I’m Unstoppable, and I’m Infinity,” the EFCC said.
The EFCC, in collaboration with officers from the 176 Guards Battalion of the Nigerian Army, executed the operation, with phones, computers, and other electronic gadgets seized from the suspects, who “will be charged in court once investigations are completed.”
The agency has stepped up efforts to clamp down on illegal activities, particularly those involved in internet fraud schemes.
In January, the anti-graft agency arrested 105 people, including four Chinese nationals, for suspected involvement in a fraudulent scheme targeting hotels in Europe and elsewhere.
Also in December 2024, the EFCC arrested 792 suspects in a raid on a building believed to be a hub for fraudsters who lure their victims with romance scams and phoney cryptocurrency investments on WhatsApp and Instagram.
The suspects included 148 Chinese and 40 Filipino nationals housed in a luxury in Lagos targeting victims from the Americas and Europe.
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Prices of Solar Panels, Others May go up as Nigeria Plans to Stop Importation

By Aduragbemi Omiyale
There are strong indications that the prices of solar panels in Nigeria may soon jump at the markets as the federal government is considering stopping its importation to boost local production
The Minister of Science and Technology, Mr Uche Nnaji, said the country has the capacity to meet local demand of solar energy and to encourage more domestic investments in the landscape, the importation of solar products, which are duty-free, has to stop.
Speaking in a recent interview in Abuja at the launch of the NEV T6 electric buses, Mr Nnaji said the plans to prohibit solar panel importation aligns with Presidential Executive Order Number 5, which seeks to promote local content in science, engineering, and technology.
He emphasised that with the National Agency for Science and Engineering Infrastructure (NASENI), there is nothing to worry about with local solar panel production.
“With NASENI here, you know that we have panels. It has a factory that has started producing solar panels and other private individuals are also producing solar panels as we speak.
“So, all we need to do is, even through science and technology, through our Presidential Executive Order No. 5, we will stop all these importations of solar panels.
“We will support our local industries to grow and very soon, most houses will go off-grid. Personally, I have been off-grid for over three years and it is working,” the Minister said.
Mr Nnaji noted that Nigeria was already making significant investments in renewable energy infrastructure, noting that with the expansion of local solar panel manufacturing, more Nigerian homes and institutions would transition to off-grid power solutions
“We have lithium in abundance here in Nigeria, so Mr. President is already taking action. We are adding value to our raw materials. The lithium we have here will be processed and used as batteries for these vehicles,” he stated.
“If you look at our budgets, we have what is called mini-grids all over the place. In less than three or four months, you will start seeing our hospitals and institutions being powered by solar.
“Again, we are saving the environment. We are putting in place non-carbon emission infrastructure. So, we are creating power everywhere,” he added.
Business Post gathered that at the moment, the price of 555w solar panels goes for between N140,000 and N160,000, while a 220v inverter battery is about N260,000, with a 60A charge controller at about N180,000.
Consumers are already scared that if the importation of solar panels are stopped, prices will rise like it happened with rice.
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