General
NACCIMA Unveils Plans to Strengthen Public, Private Ties
By Adedapo Adesanya
The newly elected president of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Mr John Udeagbala, has pledged to deepen the chamber’s engagements with the government, the Organised Private Sector of Nigeria (OPSN) and other stakeholders.
Mr Udeagbala said this when he unveiled his plans for the chamber during his tenure at the organisation’s Annual General Meeting (AGM) and investiture in Abia State.
The NACCIMA president said the plans to work with stakeholders would be achieved through advocacy to further strengthen the chamber’s capacity to influence policies and decisions in favour of businesses.
He commended his predecessor, Mrs Saratu Iya-Aliyu, for her brilliant records and promised to build on them.
“Her significant contributions and inspirational leadership, which were manifest during her tenure, were indeed remarkable, and have been acknowledged far and wide and she stands tall as a woman of substance.
“During my tenure, we will continue to work closely with other members of the Organised Private Sector of Nigeria in order to ensure that the Private Sector speaks with one voice and is focused on the sustenance of economic growth and development in our country.
“My administration will initiate a paradigm shift in our interface with the National Assembly by creating a liaison presence at the National Assembly.
“This is to enable us to monitor and provide informed inputs into bills that will have a positive impact on businesses and the private sector in Nigeria.
“To the government, the Diplomatic and International Community, and other stakeholders, the new leadership of NACCIMA seeks your continued cooperation and support,” he said.
Mr Udeagbala said that the chamber would integrate technology fully into its activities and encourage members to scale up its use.
The NACCIMA president said that other goals during his tenure include the establishment of Technology Co-Creation Centres (TCCs) in the chamber’s geo-business zones largely be driven by young entrepreneurs.
He stated that his administration would also pay attention to Alternative Dispute Resolution and Business Skills Development as important strategies to resolve trade disputes and impact entrepreneurial skills.
“The goal is to adopt the four centres of Abuja Chamber of Commerce and Industry, namely: The Policy Advocacy Centre (PAC), Dispute Resolution Centre (DRC), Business Entrepreneurship Skills and Technology Centre (BEST), and the Abuja Trade Centre (ATC) as NACCIMA’s.
“These four centres, when fully adopted, will give NACCIMA the opportunity to deliver on its strategic role of addressing the current realities and challenges to business in Nigeria, Africa and the world at large,” Mr Udeagbala added.
He reiterated the chamber’s commitment to working with the National Action Committee on the Africa Continental Free Trade Area (AFCFTA).
“We will continue to advocate for the full implementation of this agreement and ensure that Nigerian businesses harness its full benefits to ensure Nigeria’s economic influence on the continent,” he said.
He urged the government to act fast in addressing the nation’s current security challenges with its threat to lives and property and far-reaching consequences on the investment climate and costs of doing business.
“Our nation must not continue like this as prospective foreign investors and financiers are taking their resources elsewhere.
“As a nation, we must act fast to end insecurity and ensure a safe environment for lives and businesses to thrive.
“On our part, we will continue to lend our voice to the call for the government to tackle security challenges and return the country to a peaceful and secure state,” he said.
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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