General
Stanbic IBTC Holds Annual Charity Walk in Lagos, Abuja, PH
By Modupe Gbadeyanka
The annual charity walk put together by Stanbic IBTC was held at the weekend in three major cities of Nigeria.
It was gathered that on Saturday October 27, 2018, a full contingent of Stanbic IBTC staff as well as other well-meaning Nigerians thronged the streets of Lagos, Abuja and Port Harcourt to raise awareness on the need to support limbless and indigent children.
Coming under its flagship corporate social investment (CSI) initiative, ‘Together 4 A Limb,’ this year’s walk was a remarkable departure from previous editions as it specifically focused on generating awareness for people living with limb loss.
It also featured a song and dance to celebrate the 20 children who have been fitted with prosthesis since the initiative was launched in 2015.
Chief Executive Officer of Stanbic IBTC Holdings Plc, Mr Yinka Sanni, said a cardinal objective of the walk was to raise awareness about the importance of supporting the vulnerable in society, especially indigents and underserved children.
The event was also used to connect with other Nigerians who share the passion for impactful social causes.
“We understand how challenging it must be for the parents and guardians of these children, especially considering the high cost of acquiring these prostheses (artificial limbs). Our ultimate objective is to help these children to lead very productive and fulfilling lives,” Mr Sanni stated.
Apart from raising awareness, through the ‘Together 4 A Limb,’ initiative, Stanbic IBTC also provides financial and educational support to beneficiaries through an educational trust fund of N1.5 million per person. Twenty children drawn from across the six geopolitical zones have benefitted so far from the initiative.
The walk, which is approximately eight kilometres long, kicked off at 8am in each location, with adequate protection provided by security forces and traffic wardens. It is the signature CSI initiative of the Group, which is focused on three key areas of human life: health, education, and economic empowerment.
“We are passionate about this initiative, which helps Stanbic IBTC to contribute meaningfully to the society. Through the provision of prostheses and education trusts to indigent children who have suffered limb losses, we are assisting young Nigerians to get on with their lives in a productive manner,” Mr Sanni said.
According to the helmsman, “The education trust will provide for the education of the beneficiaries for as far as they are willing and able to go and will enable them realize their God-given potential.”
By Modupe Gbadeyanka
A new branch of the International Facility Management Association (IFMA) Nigeria Chapter has been established in Oyo State, with Mr Adejumo Olusola Babatunde chosen as Coordinator.
The organisation set up an arm in the South-West state in a bid to expand its footprint in the country. Mr Babatunde will be assisted by other executive committee members, including Mr Ajiboye Olusola Akeem as Secretary, and Mrs Adeniran Olaide as Treasurer.
At the inauguration of the branch at the Nigerian Society of Engineers (NSE) Secretariat in the Akobo area of Ibadan, the Oyo State capital, the president of IFMA Nigeria, Mr Sheriff Daramola, expressed delight at the successful inauguration of the branch and commended members for their commitment to the growth of facility management in Nigeria.
He highlighted IFMA’s global heritage, noting that the association is supporting over 25,000 members in more than 140 countries worldwide. Mr Daramola emphasised IFMA’s strong global network, the world’s largest and most widely recognised association for facility management professionals, headquartered in the United States and its growing influence in Africa, the Middle East and Europe.
“IFMA members have taken positions of authority across federal, state, and private institutions; IFMA Nigeria is positioned to ensure our professionals are the first choice for global investors entering the Nigerian market,” he stated.
The Legal Adviser of IFMA, Nigeria, Mr Sola Fatoki, who shared this sentiment, said, “Since 1997, when IFMA Nigeria was established, the association has equipped facility management professionals with integrated knowledge spanning human behaviour, infrastructure, and the built environment.”
He encouraged engineers, architects, surveyors, ITC, Technology innovators, data analysts and allied professionals to see IFMA as their professional home and outlined the functions and responsibilities of branch executive committees.
In his remarks, Mr Babatunde expressed gratitude to the national council for the opportunity to serve and pledged to ensure the success of the branch, focusing on unity and the professional advancement of stakeholders in the region.
By Adedapo Adesanya
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has denied reports that some disputed crude oil and gas wells have been recommended for ceding to specific oil-producing states.
In a statement issued on Sunday, the chairman of the commission, Mr Mohammed Shehu, said the attention of RMAFC had been drawn to a “purported report allegedly issued by the Inter-Agency Committee on the Verification of Coordinates of Disputed Crude Oil and Gas Wells between States,” which was circulating in sections of the national media (excluding Business Post).
The agency described the report as “misleading, premature, and does not represent the position or conclusions of the Commission.”
“At this stage, there is no finalised recommendation or decision regarding the ceding or reallocation of any oil wells, as due institutional processes are still ongoing,” the statement read.
The organisation explained that it operates a clearly defined and transparent procedure in handling assignments of national significance, stressing that the process on the disputed oil wells had not been concluded.
It disclosed that it only received a draft report from the Federal Government’s Inter-Agency Committee on Nigeria’s Oil-Producing States on Friday, February 13, 2026, which reportedly projected Cross River State as an oil-producing state.
The report, covering the nationwide 2017–2025 verification of crude oil and gas coordinates, was presented to the Chairman of RMAFC by 10 of the 14 members of the committee.
The exercise, which ran from August 2025 to February 2026, involved extensive field verification, technical reconciliation of state submissions, and a final plenary plotting of coordinates at RMAFC headquarters between January 24 and 31, 2026.
“Consistent with established protocol, the draft document has been transmitted to relevant technical and statutory stakeholders, namely the Nigerian Upstream Petroleum Regulatory Commission, the National Boundary Commission, and the Office of the Surveyor General of the Federation, for detailed review, observations, and technical input,” the commission stated.
According to the statement, after the observations and recommendations of the agencies are received, the matter will be subjected to further scrutiny by the commission’s internal tripartite committees, comprising the Committee on Crude Oil, Gas and Investment and the Legal Matters Committee.
“These committees will undertake comprehensive technical and legal reviews before presenting their findings to the Plenary Session of RMAFC for deliberation and final recommendations,” it added.
The commission further explained that upon completion of the institutional processes, its final report would be formally transmitted to the President and the Attorney-General of the Federation for necessary consideration and further action in line with applicable laws and constitutional provisions.
By Adedapo Adesanya
Social media platform, X, formerly known as Twitter, suffered an outage globally on Monday as millions of users could not use the service.
The widespread outages have been reported by thousands of users across several countries, including Nigeria, the United States, the United Kingdom, Turkey, and India, among others.
According to data from Downdetector, a website that tracks service disruptions based on user reports, complaints about access to X started to pick up around 1:00 p.m. local time in Nigeria.
The cause of the outage was not immediately clear, and X has not put out any comment, but users told Business Post that the platform is not loading or cannot be reached, and the pattern of complaints suggests the issue is not limited to a single region.
Its developer platform status page stated “all systems are operational” all morning despite the reports.
The outage is the latest to hit internet services. X suffered a similar outage in March 2025, while a Cloudflare service outage caused access problems and downtime for various websites, including X, last November.
Microsoft’s Azure had also faced an issue last year, while disruption at Amazon AWS caused global turmoil among thousands of websites and some of the most popular apps, such as Snapchat and Reddit in October
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