General
NGX, IFC Push for Gender Equality Via Nigeria2Equal
By Sodeinde Temidayo David
The Nigerian Exchange (NGX) Limited in partnership with the International Finance Corporation (IFC) held a webinar on August 6 to discuss the promotion of gender equality among publicly quoted companies.
The session was used to unveil the Nigeria2Equal initiative, which was announced last year at the 2020 International Women’s Day symposium hosted by the exchange and the IFC.
The moderator, Ms Anne Njambi Kabugi, who is the Regional Gender Lead – Africa of IFC, disclosed that the scheme comes in four categories.
According to her, the first category is on gender balance in leadership and workforce, noting that the current average percentage of women in the workforce was 33 per cent, lower than the global average of 37 per cent.
Ms Kabugi further explained in detail the average percentage of women at four workforce levels of companies, including the senior management level, revealing that no company has achieved a gender balance at all four workforce levels.
The second category, she said is on the progress of equal compensation and work-life balance scheduled in the Nigeria2Equal initiative.
In her presentation, she noted that no company publishes gender-segregated pay information or a strategy to close the gender pay gap.
Giving explanations on the leaves and work-life balance, she disclosed that only three companies have met Equileap’s standard for career leave.
On parental leave, she noted that five companies offer 14 weeks or more of 2/3 to fully paid primary caregivers, two companies offer 2 weeks of parental leave to the secondary caregiver at 2/3 to fully paid.
She further noted that three companies offer both flexible hours and locations, six companies offer flexible hours, five companies offer flexible locations.
The third category reviewed the report of companies following the new policies made in promoting gender equality. It was stated that no company publishes all of eight policies and that only 12 companies had seven out of the eight policies given.
The follow-up data showed that 73 per cent adhered to the ‘social supply chain policy’, 53 per cent of companies published the ’Anti-sexual harassment policy’, 77 per cent engaged in the ‘Training and carer development policy’, 80 per cent obeyed the ‘Human right policy’, 100 per cent applied the ‘Health and safety policy, 97 per cent issued the’ Gender nondiscrimination in recruitment’ and 97 per cent aided to the ‘Employee support policy’.
The fourth category disclosed the commitment, transparency and accountability of Equileap’s companies.
It was stated that only one company is a current United Nations (UN) Women’s Empowerment Principles (WEPs) signatory and that in 2020, 6 per cent of companies in Equileap’s global database were signatories of UN WEPs
The webinar continued with the Chief Executive Officers (CEOs) and representatives giving their remarks and comment as they gave more information on their companies development for gender equality and enactment of the Nigeria2Equal initiative.
The companies in partnership of the Nigeria2Equal are Sterling Bank Plc, Lafarge Africa Plc, Cadbury Nigeria Plc, MTN Group Limited, The United Africa Company of Nigeria (UAC), Moove Africa, Ecobank Transnational Inc., Union Bank of Nigeria Plc, Stanbic IBTC Holdings, Access Bank plc, Airtel Africa plc, Ardova Plc (AP), AIICO Insurance Plc, Red Star Express Plc, and Flour Mills of Nigeria (FMN).
By Dipo Olowookere
Nigeria’s Vice President, Mr Kashim Shettima, will run as the vice-presidential candidate of the All Progressives Congress (APC) in the 2027 presidential election.
President Bola Tinubu retained Mr Shettima as his running mate for re-election next year, according to the National Chairman of the APC, Mr Nentawe Yilwatda.
In a post on Friday on X, the ruling party chairman described this as “another significant milestone in the journey of our great party.”
He also said it reaffirms the party’s collective resolve to sustain the Renewed Hope Agenda and deepen the progress already being recorded across the country.
It was gathered that Mr Tinubu submitted his presidential nomination forms today through his Special Adviser on Political and Other Matters, Mr Ibrahim Masari.
The submission was done ceremony at the Continental Hotel, Abuja, attended by several party chieftains, including The event brought together an impressive array of leaders of our great party, including the Chairman of the Progressive Governors’ Forum and Governor of Imo State, Mr Hope Uzodimma; Governor Mai Mala Buni of Yobe State, Governor Nasir Idris of Kebbi State, Governor Abba Kabir Yusuf of Kano State, Governor Uba Sani of Kaduna State, Governor Babagana Umara Zulum of Borno State, Governor Ahmadu Umaru Fintiri of Adamawa State, as well as other governors, party executives and critical stakeholders from across the federation.
“The All Progressives Congress remains focused on strengthening its grassroots support, consolidating the achievements of the Renewed Hope Agenda and working together to build a more prosperous, secure and inclusive Nigeria for all,” the party leader stated.
By Adedapo Adesanya
The pupils and teachers abducted in Oriire Local Government Area of Oyo State have regained their freedom after 56 days in captivity.
The development was disclosed on Friday by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, on X. He revealed that eight of the kidnappers have been arrested and are now in the custody of the Department of State Services (DSS), while some others were neutralised during the operation.
“Finally, all the kidnapped pupils and teachers in Oriire, Oyo have been rescued by our security agencies,” he wrote.
He said no concession was made to the terrorists to secure the freedom of the abducted pupils and teachers.
Mr Onanuga explained that the kingpin whose release the kidnappers had demanded was neither freed nor spared, as he remains under prosecution for offences linked to his terrorist activities.
The abductions occurred on May 15, 2026, when armed men attacked three schools: Community Grammar School, Baptist Nursery and Primary School, and L.A. Primary School, in the Esiele and Yawota communities of Oriire Local Government Area.
No fewer than 39 pupils and seven teachers, including a principal, were taken during the attacks. During the attack, a teacher, Mr Joel Adesiyan, was killed while attempting to escape.
Another teacher, Mr Michael Oyedokun, was reportedly beheaded in the kidnappers’ den.
The terrorists holding the victims had reportedly made a four-point demand before agreeing to free the captives, including the release of detained terrorist commanders, payment of ransom, two Hilux vehicles and the implementation of Sharia-related law.
The Oyo State Government had consistently maintained that no ransom would be paid to secure the release of any victims.
The Nigeria Union of Teachers (NUT) embarked on a month-long strike in the state to press for the victims’ rescue before suspending the action in July.
It also drew federal intervention, with military and police authorities repeatedly assuring Nigerians that operations to secure the victims’ freedom were ongoing.
The President’s spokesperson said that security agencies would soon provide a comprehensive account of the operation.
By Adedapo Adesanya
The board of the ECOWAS Bank for Investment and Development (EBID) has approved a $260 million financing package for the construction of a 123-kilometre section of the Trans-Saharan Highway in Nigeria as part of more than $417 million earmarked for strategic projects across West Africa.
The approval was granted during the bank’s 99th Ordinary Session, chaired by its President, Mr George Donkor, according to a statement issued after the meeting. It was noted that the total financing will support five public and private sector projects spanning infrastructure, healthcare, housing, mining, financial resilience and regional connectivity.
EBID said the approved investments underscore its commitment to funding high-impact projects that drive economic growth, create jobs and improve living standards across the sub-region.
“The projects approved during this 99th Board Session demonstrate EBID’s unwavering commitment to financing development solutions that directly improve the lives of West African citizens.
“From clean energy and transport infrastructure to healthcare, housing and financial sector resilience, these investments will strengthen regional competitiveness and support sustainable and inclusive growth across our community,” said Mr Donkor.
That of Nigeria is to improve connectivity, facilitate trade, reduce logistics costs and support economic integration; West African CFA franc (XOF) 10 billion in a line of credit to Banque de l’Habitat de Côte d’Ivoire (BHCI) to expand housing finance and support SMEs operating across the housing and construction value chain; €80 million for the design, construction, equipment and maintenance of the 150-bed Regional Hospital of Ferkessédougou in Côte d’Ivoire under a public-private partnership;
XOF 12.82 billion (West African CFA Franc) for the renovation, operation and maintenance of the Symphonie Building in Abidjan under a public-private partnership and $47.4 million for Azumah Resources Ghana Limited to finance the procurement of long-lead process plant equipment and critical early-stage development activities for the Black Volta Gold Project.
“These approvals advance EBID’s Growth, Resilience and Optimisation (GRO) Strategy, which prioritises transformative infrastructure, human capital development, private sector growth and regional integration. Through these investments, the Bank continues to promote sustainable development and shared prosperity across West Africa,” the statement said.
