General
U-Law Tasks Businesses on Regulatory Compliance
By Adedapo Adesanya
U-Law, a sub-firm of leading Nigerian corporate law firm, Udo Udoma & Belo-Osagie (UUBO), has emphasised the importance of businesses operating within Nigeria to be compliant with relevant laws and regulations for effective growth.
The firm gave this advice at U-Law’s Black Friday 8.0 Event held last Friday in Lagos, where businesses and industry stakeholders gathered.
As a firm, UUBO specialises in an array of business practice areas, encompassing banking and finance, technology, capital markets, competition, compliance, advisory, tax, and private equity among others.
During her presentation, a partner at UUBO, Mrs Yinka Edu, noted that UUBO had always been at the forefront of innovations and shifts that businesses need to make, stressing that technology remains at the intersection of businesses and the ongoing changes in the world and that the firm has always been ready to play its role.
“We are dedicated to supporting startups and MSMEs through U-Law. This dedicated legal support service provides tailored advice and tech-based solutions to growth businesses. One of such product is the Compliance Calculator, a tech-based tool that allows MSMEs to assess their compliance with basic legal requirements without needing a lawyer,” she stated.
Speaking during a dual presentation, Ms Aniekan Udo-Okon and Fortune Ihator, associates of the firm, disclosed that it was necessary for businesses to stay ahead of changes in the operating environment being made by policymakers revolving around data regulations, Know-Your-Customer (KYC), and Anti-Money Laundering (AML) measures among others.
“Compliance isn’t just about avoiding fines, it’s about growing sustainably and building a trustworthy, attractive business. It can be used as a strategic tool to ensure a smooth journey towards business growth and long-term success,” Ms Udo-Okon averred.
The event also featured a session moderated by Ms Dumebi Anike-Nweze on how brands can speak to investors and customers and featured Mr Razaq Ahmed, co-founder and CEO of Cowrywise; Mr Chikodi Ukaiwe of Salad Africa; Mrs Eniola Alli-Fayewa, the Head of Corporate Communications at Guinness Nigeria; Mr Oluwatoyin Emmanuel-Olubake, the Investment Director at Novastar Ventures; and Ms Nnenna Onyewuchi of Yellow Brick Road Lagos.
During the breakout sessions, incubators examined how business incubators can accelerate growth for startups with Ms Nissi Madu, Managing Partner at CCHub, Ms Subuola Oyeleye, Founder of BeautyHut Africa, Ms Karina Karunwi of Impact Hub, and Mr Femi Moito, Founder of Innovest Afrika sharing key things founders and startups should do during incubation stage.
Simultaneously, experts in the food industry, including Gatumi Aliyu, Co-founder of Vendease, Michael Chu’di Ejekam, Chief Executive Officer of Atreos, Folayemi Agusto, the co-founder of Eat Drink Lagos, and Tobi Hamilton, the founder of The House shared the potential partnerships and pitfalls necessary to know for startups in the value chain during a session moderated by Banke Makinde, Founder of 3 by 4 Foods.
The programme culminated with a speed dating session where startup founders and managers sat with experts, including investors, lawyers, founders, and brand specialists to receive personalised business advice.
General
TCN Confirms Destruction of Six Transmission Towers in Nasarawa
By Adedapo Adesanya
The Transmission Company of Nigeria (TCN) has confirmed the destruction of six transmission towers along the Apir–Lafia 330kV line in Nasarawa State, causing significant disruption to electricity supply in parts of the country.
In a statement issued on Wednesday, TCN spokesperson, Mrs Ndidi Mbah, said the incident occurred on May 30 at about 1:15 a.m. during a heavy downpour.
She explained that the transmission line initially tripped, prompting operators to attempt a trial reclosure of Line II at about 2:08 a.m., but the effort failed.
A subsequent inspection of the transmission corridor, however, revealed extensive damage to key components of towers T125 to T130, confirming that the infrastructure had been vandalised.
“The tripping of the lines prompted a physical line trace to determine the fault, which revealed damage to critical components of towers T125 to T130, confirming vandalism on the affected sections of the transmission corridor,” Mbah said.
The incident has forced both Apir–Lafia 330kV Transmission Lines I and II out of service pending the reconstruction of the damaged towers.
TCN said its engineers have been deployed to the site to assess the extent of the damage and determine the materials required to restore normal transmission along the corridor.
As an interim measure, the Lafia 330kV Transmission Station is being supplied through an alternative line to minimise the impact on electricity consumers within the franchise areas of Abuja Electricity Distribution Company (AEDC) and Jos Electricity Distribution Company (JEDC).
The company condemned the persistent vandalism of power infrastructure, warning that such acts undermine investments in the electricity sector and threaten the stability of the national grid.
It also urged residents and host communities to remain vigilant and report suspicious activities around transmission installations to security agencies or the nearest TCN office.
TCN stressed that safeguarding critical national infrastructure requires collective responsibility to ensure a reliable and uninterrupted electricity supply nationwide.
General
IFC, NGX Group, LCCI Unveil Nigeria Gender Country Programme
By Aduragbemi Omiyale
A Nigeria Gender Country Programme (NGCP) to advance private sector action on gender equality and inclusive economic growth has been unveiled at a high-level virtual CEO Roundtable convened by the International Finance Corporation (IFC), Nigerian Exchange (NGX) Group Plc, and the Lagos Chamber of Commerce and Industry (LCCI).
The NGCP builds on the momentum of Nigeria2Equal and other initiatives that have advanced workplace inclusion, women’s leadership, entrepreneurship, and sustainable finance across Nigeria’s private sector.
Designed as a more integrated and collaborative platform, the programme seeks to scale impact through coordinated action among development institutions, business leaders, regulators, and the organised private sector.
Anchored on three strategic priorities, the programme aims to increase women’s representation in leadership, improve access to quality employment, and expand access to productive assets—including finance, technology, and markets—for women and women-led businesses.
The partners are expected to formally launch the Nigeria Gender Country Program at a physical event scheduled for July 9, 2026, where stakeholders will further advance implementation of the programme’s strategic priorities.
At the virtual event, the Director General of the Securities and Exchange Commission (SEC), Mr Emomotimi Agama, said, “Gender inclusion is fundamentally an economic growth imperative. Closing gender gaps can unlock billions of dollars in value for Nigeria while strengthening business performance and national competitiveness. We must therefore move beyond viewing inclusion as a corporate social responsibility initiative or compliance exercise, and instead recognise it as a strategic driver of productivity, innovation, and sustainable economic growth.”
Commenting on the initiative, the chief executive of NGX Group, Mr Temi Popoola, said the initiative “presents a significant opportunity to deepen impact and accelerate progress across corporate Nigeria. By expanding women’s access to leadership opportunities, quality employment, finance, technology, and markets, we can unlock substantial economic value while building a more competitive, inclusive, and resilient private sector. At NGX Group, we believe the capital market has a critical role to play in advancing these outcomes through stronger governance, transparency, and stakeholder engagement.”
On his part, the IFC Head of Office in Lagos, Mr Christian Mulamula, said, “Closing the gender gap is one of the most significant opportunities to strengthen competitiveness and productivity. Across Africa, gender inequality is estimated to cost up to $2.5 trillion. Through the Nigeria Gender Country Program, IFC is working with the private sector to expand women’s leadership, improve access to better jobs, and increase opportunities for women-led businesses. Building on Nigeria2Equal, this initiative focuses on practical, measurable solutions that help businesses grow while advancing inclusive growth.”
In her remarks, the DG of LCCI, Ms Chinyere Almona, noted that the programme’s success would depend on leadership accountability and sustained commitment from business leaders, particularly in embedding gender inclusion into organisational strategy and execution.
General
VDR, ECDIS Data Retrieved as NSIB Probes Maersk Vessel Collision at Bonny Anchorage
By Adedapo Adesanya
The Nigerian Safety Investigation Bureau (NSIB) has commenced a forensic investigation into the collision between the container vessel MV Maersk Valparaiso and the oil tanker MT Lady Martina at Bonny Anchorage in Rivers State, following the download of Voyage Data Recorder (VDR) and Electronic Chart Display and Information System (ECDIS) data from the vessel for navigational analysis.
The bureau’s Director of Public Affairs and Family Assistance, Mrs Funke Adebayo Arowojobe, explained that in line with the International Maritime Organisation (IMO) Casualty Investigation Code and international obligations, NSIB had formally notified the Transport Safety Investigation Bureau (TSIB) of Singapore as a substantially interested State.
The incident, which occurred on May 20, 2026, has been classified by the bureau as a Very Serious Marine Casualty (VSMC).
She also said that NSIB activated its marine occurrence response protocols immediately after receiving notification of the incident, noting that the investigation Go-Team was deployed to Onne and Bonny on May 22 to commence evidence preservation and preliminary investigative activities.
The bureau disclosed that investigators boarded both vessels and conducted interviews with their masters and key crew members, while operational records and navigational data linked to the incident were secured.
Also, the director stressed that the bureau had commenced collaborative engagement with relevant local and international stakeholders as part of the investigation process, assuring the public and maritime stakeholders that the investigation would be conducted with professionalism, independence and thoroughness, stressing that the objective was to determine the causal and contributory factors of the occurrence and enhance maritime safety.
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