Masterchef Nigeria Top 5 Pressure Sends Derry Home

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Masterchef Nigeria Top 5 Pressure Sends Derry Home

The heat was high, the flavours were bold, and the pressure was sizzling as the Top 5 home cooks on MasterChef Nigeria were tasked with re-imagining beloved Buka classics in a challenge that demanded they cook with serious “street in their step.”

Joining the judges in the MasterChef kitchen was the well-known and much-loved Chef Bukie Akinmade, who brought her expertise, warmth, and deep love for Nigerian food culture to the judging table.

For this challenge, the contestants had to prepare two dishes inspired by the vibrant energy, flavours, and soul of Nigerian street food and Buka-style cooking. But this was not just about recreating familiar favourites. The home cooks had to turn humble food into fine dining elevating everyday classics while still keeping the heart, spirit, and authenticity of the street alive.

For Derry, the mission was personal. She was determined to let tradition and tribe shine through her food, but unfortunately, her dishes did not land the way she had hoped. The judges felt that her execution did not meet the standard required at this stage of the competition, and after a tough cook, Derry became the next contestant to leave the MasterChef Nigeria kitchen.

Joining Derry in the bottom three were Favy and Fads.

Favy, who still had the immunity pin, was confident in the dish she presented and chose not to use it. However, her undercooked Dubai Pistachio Puff Puff came back to bite, landing her in the danger zone.

Fads also found herself under pressure after serving two starter-style dishes. Time got the better of her in the kitchen, leading to a shocking moment when she accidentally put her hands into hot oil. The incident startled the judges and Fads herself, but she pushed through with determination and made sure her food reached the plate. In the end, the judges were impressed with how well her chicken was cooked, and she was declared safe.

While some contestants struggled to find their rhythm, David and Isabella rose to the occasion and served the strongest dishes of the day.

Also read: https://brandspurng.com/2026/06/22/54-of-aspiring-web3-professionals-cant-land-their-first-job-bitget-report/

Although Isabella’s dish was simple, the judges felt that she truly understood the brief and successfully took her food to the streets while giving it the elevation the challenge required. Her flavours, concept, and execution impressed the panel and earned her a place among the top cooks of the challenge.

David, however, brought both flavour and fighting spirit to the plate. The judges were particularly impressed with the look of his dishes, as well as the balance and depth of flavour in his street food classics. His ability to elevate familiar favourites while staying true to the heart of the challenge made him one of the standout performers of the day. David’s fighting spirit paid off as he walked away with Dish of the Day.

MasterChef Nigeria continues next week as the Top 4 battle for a place closer to the ultimate title.

The remaining contestants will be challenged to create two Afro-Italian dishes, with a major prize on the line for the winning dish. As the finale draws closer, every plate matters, every second counts, and only the strongest cooks will survive the heat.

The show airs weekly on Sundays at 7 pm on Africa Magic Showcase and Africa Magic Family with rebroadcast on Wednesdays at 6 pm on Africa Magic Showcase and Thursdays at 12 pm on Africa Magic Family.

Produced by Primedia Group, MasterChef Nigeria is supported by a strong coalition of leading Nigerian brands, including headline sponsor Power Oil, alongside Indomie, Dano Milk, Malta Guinness, Sonia Tomato, Kiara Rice, Golden Penny Flour, Golden Penny Sugar, Golden Penny Garri, Golden Penny Semolina, Golden Penny Chocolate Spread, and Golden Penny Wheat.

For more information and a chance to win great prizes, visit www.masterchefnigeria.com and follow the conversation on social media: Facebook: MasterChef Nigeria | Instagram: @masterchefngr | TikTok: @masterchefngr | X (formerly Twitter): @masterchefngr

54% of Aspiring Web3 Professionals Can’t Land Their First Job: Bitget Report

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54% of Aspiring Web3 Professionals Can’t Land Their First Job: Bitget Report

VICTORIA, Seychelles – June 2026

(GLOBE NEWSWIRE) — Bitget, the world’s largest Universal Exchange (UEX), has released its Web3 Next-Gen Talent Intelligence Report, finding that hiring barriers, not a lack of talent, are one of the industry’s biggest workforce challenges. Conducted under Bitget’s Blockchain4Youth (B4Y) initiative, the study surveyed aspiring and early-career professionals across multiple regions and found that while Web3 continues attracting highly educated talent, many candidates remain unable to secure their first role.

More than 54% of respondents identified prior experience requirements for junior positions as the biggest obstacle to entering the industry, while 52% said their education provided theoretical knowledge but lacked practical, job-ready skills. The findings suggest that as blockchain education expands globally, employment pathways have not kept pace, creating a growing disconnect between learning and workforce participation. The report concludes that the sector faces a talent access challenge instead of talent shortage, with many qualified candidates struggling to gain the experience needed to enter the industry.

The report also highlights the increasing importance of emerging markets in shaping the future of the Web3 workforce. Nigeria, Indonesia, and China accounted for nearly half of all respondents, reflecting how blockchain education and career interest are expanding beyond traditional technology hubs. Nearly 46% of participants were between the ages of 23 and 30 years, while more than 58% held Bachelor’s, Master’s, or PhD degrees.

“The industry has succeeded in attracting talent globally. The challenge now is converting talent into employment. The findings show there is a large pool of motivated and educated candidates, but many are struggling to take the first step into the industry. Closing this gap will be critical for the next phase of industry growth,” said Gracy Chen, CEO at Bitget.

Also read: https://brandspurng.com/2026/06/22/akada-childrens-book-festival-celebrates-literacy-and-storytelling-at-eighth-edition-in-lagos/

The report highlights that talent interests are evolving alongside industry demand. AI and blockchain convergence emerged as the most sought-after career path, selected by 61% of respondents. Despite strong enthusiasm for the sector, respondents consistently identified practical industry exposure as a missing piece of career development, with 62% selecting mentorship fr0m experienced professionals as the support mechanism most likely to accelerate their careers.

The report follows continued expansion of Blockchain4Youth, Bitget’s global initiative focused on blockchain education and workforce development. The findings reinforce the importance of structured learning pathways that combine technical education with practical industry exposure, an approach reflected in the Blockchain4Youth Learning Hub curriculum, which combines blockchain fundamentals, DeFi education, industry insights, and emerging technology topics.

The Blockchain4Youth Learning Hub recently surpassed 10,000 registered learners worldwide. Participants who successfully complete the programme receive a certificate that can be used to access priority review for selected opportunities within Bitget and the Blockchain4Youth Talent Alliance, helping connect education with real-world career pathways. Through initiatives including Boxed for Opportunity and educational partnerships, career-focussed programmes, and the Blockchain4Youth Talent Alliance, Blockchain4Youth continues connecting learning, mentorship, and career development opportunities for emerging Web3 talent.

The report concluded that stronger collaboration between educational institutions, employers, learning platforms, and industry participants will be needed to bridge the gap between education and employment and support the next stage of Web3 workforce growth.

For more information, please read the report here.

About Bitget

Bitget is the world’s largest Universal Exchange (UEX), serving over 125 million users and offering access to over 2M crypto tokens, 100+ tokenized stocks, ETFs, commodities, FX, and precious metals such as gold. The ecosystem is committed to helping users trade smarter with its AI agent, which co-pilots trade execution. Bitget is driving crypto adoption through strategic partnerships with LALIGA and MotoGP™. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. Bitget currently leads in the tokenized TradFi market, providing the industry’s lowest fees and highest liquidity across 150 regions worldwide.

For more information, visit: Website | Twitter | Telegram | LinkedIn | DiscordRisk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

Akada Children’s Book Festival Celebrates Literacy And Storytelling At Eighth Edition In Lagos

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Akada Children’s Book Festival Celebrates Literacy And Storytelling At Eighth Edition In Lagos

   ….Honours Pelumi Numi with Children’s Book of the Year Award

Lagos, Nigeria – More than 1,700 children, parents, educators, authors, illustrators and book lovers gathered at Rugby School Nigeria, Eko Atlantic, Lagos, for the eighth edition of the Akada Children’s Book Festival (ACBF), highlighting its pivotal role in nurturing young minds and reinforcing the importance of literacy and cultural heritage in Nigeria. The festival, which is the first and largest Nigerian book festival curated specifically for children, continues to serve as a platform where African stories are shared, experienced and celebrated through immersive learning.

This year’s festival, themed “Big Dreams, Brave Stories,” showcased 25 original children’s books by Nigerian authors based both locally and internationally. The programme brought together a rich mix of learning and creative experiences, including 6 Book Chats, 2 Young Authors’ Panels, 5 Parents’ Workshops, 7 Children’s Workshops, 2 Illustration Workshops (Draw Like a Pro!), and 2 Animation Workshops.  In addition to book readings, the festival featured a wide range of interactive activities—including Scrabble and chess tournaments, STEM activities, sensory play sessions, SIP-and-Paint experiences, and other hands-on creative engagements—helped to spark curiosity, imagination, and a stronger love for reading among children and families.

A major highlight of the festival was the presentation of the Akada Children’s Book Festival Children’s Book of the Year Award, which recognised excellence in children’s publishing and storytelling. The winner of the 2026 award, Lumi Drives from London to Lagos by Pelumi Nubi, was announced during the festival. Other notable recognitions included Enifome Uyoyou-Agha & Aiden Johnson, winners of the Writing Competition; Sorcha Fischer, winner of the Illustration Competition; and Edward Peculiar, winner of the Chess Tournament.

Speaking on the significance of the festival, renowned children’s author and Convener of the Akada Children’s Book Festival, Mrs. Olubunmi Aboderin Talabi, said:

“The Akada Children’s Book Festival was created out of a clear need to address the gap in children’s access to books that are not only available, but meaningful, relatable, and reflective of their lived experiences. From the beginning, our mission has been to build a strong reading culture among children in Nigeria by creating a space where stories, imagination, and learning come together. Each year, we return with renewed purpose, and this eighth edition is no different. Our expectation is simple but powerful—to see more children fall in love with reading, more parents actively engage in their children’s learning journey, and more writers and illustrators inspired to tell African stories with pride and excellence. This festival is ultimately about shaping a future where reading is not an obligation, but a joyful habit that opens doors for every child.”

Also read: https://brandspurng.com/2026/06/22/paystack-launches-small-business-program-to-support-nigerian-businesses/

Throughout the day, children participated in a rich programme of literary and educational activities. Popular book readings and storytime sessions featured titles including Iwa: Short Stories About Character by Zansi Adebowale, Sleepy Guppy Says Bedtime Must Wait by Adebola Rayo, What Happened On Thursday? by Ayo Oyeku, Kachi and the River Guard by Amarachukwu Chimeka, Lumi Drives From London To Lagos by Pelumi Nubi, Sim Sim Goes To The Salon by Tonye Faloughi-Ekezie and many more.

The festival also celebrated emerging literary talent through dedicated Young Authors’ Panels featuring Achiever Omotoso, Oluwatoke Aduradola, Tiwatope Oloye and Chimziterem Iloh. Attendees were further treated to theatrical performances, puppet shows and an exclusive first reading of Dunoma the Brave by acclaimed author Lola Shoneyin, alongside appearances by several leading children’s authors and storytellers.

The Akada Children’s Book Festival (ACBF) is an annual event that provides a visible platform for the work of indigenous authors and encourages broad public engagement with children’s literature from Nigeria and around the world. Since its launch in 2019, the festival has drawn over 10,160 attendees and donated more than 5,118 books, creating greater access to quality reading materials for children. Beyond celebrating African stories and authors, the festival empowers parents and educators to nurture a love for reading, embrace shared reading practices, and inspire the next generation of African storytellers.

Paystack Launches Small Business Program To Support Nigerian Businesses

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Paystack Launches Small Business Program To Support Nigerian Businesses

First offer gives eligible Nigerian merchants access to up to ₦4 million in discounts from business service partners.

Lagos, Nigeria. 22 June, 2026 – Paystack [1], one of Africa’s leading
payments technology companies,  has launched the Paystack Small Business
Program to support Nigerian small businesses through a range of
initiatives designed to help them grow, connect with relevant
opportunities, and access funding for their next stage of growth.

The program will support businesses as they start, manage and grow their
operations, starting with the Paystack Small Business Bundle [7]. The
bundle gives eligible Nigerian merchants access to up to ₦4 million in
discounts on tools and services from selected partners across key areas
of business operations, including commerce, bookkeeping, logistics,
design, workspace, customer communication, and digital tools.

Small businesses play a significant role in Nigeria’s economy, but
many still face everyday operational challenges, from managing sales and
records, reaching customers, handling deliveries, and accessing
affordable tools. The program has been developed to provide practical
support for these businesses as they manage daily operations and plan
for their next stage of growth.

Also read: https://brandspurng.com/2026/06/22/nigerias-fmcg-market-reaches-25-billion-in-2026-as-credit-access-remains-out-of-reach-for-most-retailers/

The Paystack Small Business Program will start with the following
initiatives:

  • Paystack Small Business Bundle: a collection of tools, services,
    resources, and partner offers to help small businesses operate more
    efficiently and grow sustainably.
  • Paystack Small Business Launchpad: dedicated, hands-on support to help
    high-potential businesses get the most out of Paystack and accelerate
    their growth.
  • Paystack Small Business Grant: funding for high-potential businesses to
    support their next stage of growth.

Through the Small Business bundle, eligible merchants can access offers
from partners including Bumpa [3], Ijeworks [8], Wiicreate [9], Flowcart
[10], Simplebks [11], Africaworks [4], Paystack [1], Kindlybook [12],
FezDelivery [13], Gamp [14], Pressone [15], Mercurie [16], Shuttlers [5]
and Canva [6].

Paystack is targeting 2,000 Nigerian SMBs for the Small Business Bundle,
with additional partner offers expected over time.

The Bundle is available to eligible Nigerian merchants with a live
Paystack account, at least 10 Paystack transactions in the last 30 days,
and operations in Nigeria. Eligible merchants can visit the Small
Business Bundle Page [2] to browse available partner offers, submit
their business details and receive redemption instructions once their
eligibility has been confirmed.

Nigeria’s FMCG Market Reaches $25 Billion In 2026 As Credit Access Remains Out Of Reach For Most Retailers

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Nigeria’s FMCG Market Reaches $25 Billion In 2026 As Credit Access Remains Out Of Reach For Most Retailers

Nigeria’s fast-moving consumer goods (FMCG) industry has grown into a $25 billion market, but limited access to formal financing continues to constrain growth for thousands of retailers operating across the country, according to findings presented in the newly released FMCG Industry Report 2026.

The report, unveiled by Omni at its Omni Insights Forum in Lagos, revealed that while the sector serves an estimated population of 238 million people and remains one of the largest consumer markets in Africa, a significant financing gap persists within the retail ecosystem. Data from the study showed that nearly three-quarters of retailers consider access to credit essential for daily operations, yet only 18% have obtained loans through formal financial institutions.

The findings highlight a longstanding challenge in Nigeria’s distribution and retail network, where businesses frequently depend on informal lending arrangements and cash-based transactions to sustain operations. According to the report, more than half of surveyed retailers experience recurring working-capital shortages, limiting their ability to expand inventory, manage demand, and grow their businesses. Brandspur Banking News Desk reports that the financing gap continues to affect productivity across multiple layers of the FMCG value chain.

Also read: https://brandspurng.com/2026/06/22/dangote-group-strengthens-succession-pipeline-as-alikos-daughters-assume-strategic-leadership-roles/

Industry stakeholders gathered in Lagos for the report launch, including manufacturers, distributors, retailers, investors, development partners, and policymakers. The event also marked Omni’s seventh anniversary and provided a platform for discussions on the evolving role of technology in modernising commerce and improving capital flows within Nigeria’s consumer goods sector.

A key finding from the report points to the rapid adoption of digital financial infrastructure among retailers. More than 75% of retailers now accept digital payments, while 78% operate point-of-sale systems. This growing digital footprint is generating transaction records that could help lenders evaluate businesses more accurately and extend financing to previously underserved operators.

Omni executives argued that access to reliable transaction data is creating new opportunities for embedded finance solutions, particularly among small retailers that often lack the collateral required by traditional lenders. As digital tools become more integrated into everyday business operations, industry participants expect financial institutions to rely increasingly on transaction histories and business performance data when assessing creditworthiness.

The report was formally inaugurated by Nigeria’s Minister of Industry, Trade and Investment, who linked the findings to broader efforts aimed at improving transparency, efficiency, and collaboration across the country’s trade ecosystem. The minister emphasised the importance of stronger visibility throughout the value chain as Nigeria seeks to unlock greater economic value from commerce and retail activities.

Beyond highlighting current market conditions, the report contributes fresh data to ongoing conversations about financial inclusion within Nigeria’s retail economy. Analysts say its long-term significance will depend on whether the insights lead to broader adoption of financing solutions that can help close the credit gap affecting retailers nationwide.

With consumer demand continuing to expand and digital commerce infrastructure becoming more widespread, the report suggests that improving access to capital could play a critical role in determining the next phase of growth for Nigeria’s FMCG sector in 2026 and beyond.

Dangote Group Strengthens Succession Pipeline As Aliko’s Daughters Assume Strategic Leadership Roles

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Dangote Group Strengthens Succession Pipeline As Aliko’s Daughters Assume Strategic Leadership Roles

The Dangote Group is undergoing a significant leadership transition as Fatima, Mariya, and Halima Dangote step into expanded responsibilities across key sectors of Africa’s largest business empire, signaling a deliberate approach to succession planning and institutional continuity.

The appointments come as the conglomerate, founded by Africa’s richest man Aliko Dangote, continues its expansion across cement, sugar, fertilizer, and energy sectors, with the next generation assuming operational and strategic roles that position them for future leadership.

Brandspur Brand News understands that Fatima Dangote, the eldest daughter, has been actively involved in the group’s commercial operations, while Mariya and Halima have also taken on increasing responsibilities, reflecting a coordinated effort to develop internal leadership capacity.

The Dangote Group, valued at over $20 billion, operates across multiple African countries and represents one of the continent’s most significant private sector employers and industrial enterprises, with major assets including the Dangote Cement, Dangote Sugar Refinery, Dangote Fertilizer, and the newly operational Dangote Petroleum Refinery.

Industry observers note that the involvement of Aliko Dangote’s children in senior management positions follows a pattern established by other global business dynasties, including the Adani Group in India and the Al-Futtaim Group in the Middle East, where family succession has been carefully managed across generations.

The appointments are particularly significant given the scale of the Dangote Group’s recent investments, including the $20 billion Dangote Petroleum Refinery in Lekki, which is poised to transform Nigeria’s energy landscape and reduce the country’s dependence on imported refined petroleum products.

Fatima Dangote, who holds a degree from a prestigious British university, has been involved in commercial strategy and business development, while Halima Dangote, who also studied abroad, has taken on roles in the group’s corporate affairs and strategic partnerships functions.

The succession planning efforts come as Aliko Dangote, 69, continues to maintain active leadership of the group, having built the enterprise from a small trading company in 1977 into one of the world’s largest conglomerates by market capitalization on the Nigerian Exchange.

The group’s approach to leadership development has focused on combining formal business education with practical operational experience, ensuring that next-generation leaders understand both the strategic vision and the operational realities of the business.

Also read: https://brandspurng.com/2026/06/22/alan-greenspan-longest-serving-us-federal-reserve-chair-dies-at-100/

Analysts tracking African family-owned enterprises suggest that the Dangote Group’s succession approach could serve as a template for other major African business families seeking to balance professional management with family continuity.

The move also aligns with broader trends among leading global enterprises, where developing leadership pipelines that combine fresh perspectives with deep organizational understanding has become critical to long-term institutional sustainability.

The Dangote Group has been building institutions designed to last beyond any single individual, with the increasing involvement of the next generation representing another step in ensuring the continued evolution of the business.

For decades, the group has maintained a focus on institutional strength, investing in governance structures, professional management systems, and operational excellence that can withstand leadership transitions and market disruptions.

The next generation’s increasing involvement across cement, sugar, fertilizer, and energy sectors signals the group’s commitment to maintaining momentum while preparing for the future, potentially positioning Africa’s largest business empire for continued growth across multiple generations.

Observers will be closely watching to see how the Dangote daughters contribute to the group’s transformation as leadership responsibilities continue to expand, particularly as the group navigates the challenges and opportunities of its refinery operations and Pan-African expansion plans.

Alan Greenspan, Longest-Serving US Federal Reserve Chair, Dies At 100

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Alan Greenspan, Longest-Serving US Federal Reserve Chair, Dies At 100

Alan Greenspan, the former Chairman of the United States Federal Reserve who shaped American economic policy for nearly two decades and became one of the most influential central bankers in history, has passed away at the age of 100.

Greenspan, who served as Fed Chair from 1987 to 2006 under four US presidents, was widely regarded as the architect of modern American economic policy, steering the world’s largest economy through some of its most turbulent periods, including the 1987 stock market crash, the dot-com bubble, and the aftermath of the September 11 attacks.

Brandspur Banking News Desk understands that Greenspan’s death marks the end of an era in global economic governance, with his tenure at the Federal Reserve spanning the longest period of any chair in the institution’s history and his influence extending far beyond American borders.

Born in New York City in 1926, Greenspan studied economics at New York University before earning a doctorate in the field, establishing himself as a private economic consultant before entering public service as chairman of the Council of Economic Advisers under President Gerald Ford in 1974.

His appointment as Federal Reserve Chairman by President Ronald Reagan in 1987 came just months before the Black Monday stock market crash, when Greenspan’s decisive intervention through interest rate cuts and liquidity provision helped prevent a broader financial collapse and earned him immediate credibility on Wall Street.

Throughout his tenure, Greenspan became known for his mastery of economic data, his hawkish stance on inflation, and his belief in free markets, with his policy decisions credited with ushering in an era of sustained economic growth, low inflation, and job creation across the American economy.

His stewardship of monetary policy during the 1990s was widely praised for achieving a rare combination of strong growth, low unemployment, and price stability, contributing to what became known as the “Great Moderation,” a period of reduced economic volatility.

Greenspan’s approach to interest rate management, which often relied on nuanced signals and carefully worded statements to communicate policy direction, became a hallmark of his leadership style, with financial markets closely parsing his every word for guidance.

However, his legacy also attracted criticism in later years, with some economists arguing that his policies during the early 2000s, including maintaining low interest rates following the dot-com crash, contributed to conditions that fueled the 2008 global financial crisis.

Also read: https://brandspurng.com/2026/06/22/advans-la-fayette-mfb-raises-n6-billion-in-oversubscribed-debut-commercial-paper-issuance/

Greenspan acknowledged in congressional testimony following the crisis that he had found “a flaw” in his economic worldview, particularly in his belief that financial institutions would effectively manage their own risks and protect shareholders.

Following his retirement from the Federal Reserve in 2006, Greenspan remained active in economic discourse through consulting, speaking engagements, and books, including his memoir “The Age of Turbulence,” which offered insights into his experiences at the helm of American monetary policy.

Beyond economics, Greenspan was known for his intellectual curiosity, his marriage to NBC journalist Andrea Mitchell, and his disciplined approach to analytical thinking, which he applied to everything from economic data to sports statistics.

His death represents a significant moment in global economic history, as the figure who dominated American monetary policy for a generation and influenced central banking practices worldwide leaves behind a complex legacy of achievement and controversy.

Advans La Fayette MFB Raises N6 Billion In Oversubscribed Debut Commercial Paper Issuance

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Advans La Fayette MFB Raises N6 Billion In Oversubscribed Debut Commercial Paper Issuance

Advans La Fayette Microfinance Bank has raised N6 billion through its maiden commercial paper issuance under a N20 billion programme, marking the institution’s entry into Nigeria’s capital market as it strengthens capacity to expand credit access for micro, small and medium enterprises.

The series one issuance was oversubscribed, reflecting growing investor confidence in the microfinance bank’s governance framework, business model, and growth prospects according to a statement from the institution.

Brandspur Banking News Desk understands that the funds raised will strengthen the bank’s funding base, diversify its financing sources, and provide additional liquidity to support lending to MSMEs, a sector widely recognised as a critical driver of employment, innovation, and economic growth across Nigeria.

Chief Executive Officer Elvis Kwabena Oheneba described the transaction as a strategic milestone that would support the institution’s long-term growth ambitions, reinforcing its commitment to expanding access to finance for underserved businesses and individuals.

The commercial paper programme provides a platform for the bank’s next phase of expansion while supporting sustainable business growth through prudent risk management, operational efficiency, and responsible lending practices.

Non-executive director Rukaiyat el-Rufai noted that the initiative would help address the persistent financing challenges facing Nigerian MSMEs despite their significant contribution to economic development, enabling the institution to increase support for businesses that drive productivity and job creation.

Also read: https://brandspurng.com/2026/06/22/xpress-payments-processes-trillions-in-10-years-targets-ai-powered-growth-phase/

The successful issuance demonstrates investor confidence in the bank’s operations and reinforces its commitment to deepening financial inclusion among underserved segments of the Nigerian economy.

The microfinance bank’s entry into the capital market comes amid persistent funding constraints facing MSMEs across Nigeria, with the N6 billion injection expected to expand the institution’s capacity to provide credit to businesses that have traditionally struggled to access formal financing channels.

The oversubscription of the debut issuance suggests strong market appetite for microfinance sector instruments, potentially opening the door for similar institutions to explore capital market funding as an alternative to traditional bank borrowing.

The transaction is expected to support the bank’s efforts to extend financial services to underserved communities while contributing to Nigeria’s broader financial inclusion objectives and economic development agenda.

Xpress Payments Processes Trillions In 10 Years, Targets AI-Powered Growth Phase

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Xpress Payments Processes Trillions In 10 Years, Targets AI-Powered Growth Phase

Xpress Payment Solutions Limited has processed transactions worth trillions of naira over its decade-long operation, with the company now positioning itself for a new growth phase driven by emerging technologies including Artificial Intelligence and the Internet of Things.

The fintech firm’s Managing Director and Chief Executive Officer, Wale Olayisade, disclosed the transaction milestone at a public lecture marking the company’s 10th anniversary in Lagos, where he outlined the company’s journey from processing zero transactions at inception to becoming a major player in Nigeria’s digital payments ecosystem.

Brandspur Banking News Desk understands that the company has secured six regulatory licences enabling operations across multiple fintech segments, including switching and processing, payment solutions, payment terminal services, and agency banking, supporting its expansion across the digital payments value chain.

Speaking on the theme “A Decade of Innovation, A Future of Possibilities,” Olayisade said the firm has contributed significantly to expanding financial inclusion by extending access to financial services to underserved communities while supporting Nigeria’s transition to a cashless economy.

The CEO emphasised that the AI and IoT phase would make payments more predictive, personalised, and seamless, enabling the company to better understand customer needs and anticipate the next steps in their financial journeys while reducing friction and enhancing convenience.

He credited regulators, particularly the Central Bank of Nigeria, for creating a stable operating environment through policies designed to protect consumers and maintain confidence in the financial system, noting that while some stakeholders may view regulatory measures as restrictive, their ultimate objective is safeguarding the integrity and sustainability of the financial system.

Also read: https://brandspurng.com/2026/06/22/fcmb-trustees-md-warns-nigerians-atm-passwords-cannot-protect-inherited-wealth/

Executive Director of Finance, Temitope Ajanaku, described the anniversary as a testament to the organisation’s resilience in navigating economic disruptions, including the COVID-19 pandemic and foreign exchange volatility, while highlighting the firm’s commitment to regulatory compliance as a key factor behind its sustained growth and credibility.

Ajanaku emphasised the company’s customer-centric philosophy, noting that feedback from users played a critical role in shaping its products and services over the last decade, with the company remaining focused on innovation, customer satisfaction, and continuous improvement for its next growth phase.

Founder and Chairman of Xpress Holdings, Dr Awa Ibraheem, expressed satisfaction with the company’s survival and growth in Nigeria’s challenging business environment, reflecting on the COVID-19 pandemic as one of the earliest and most significant challenges encountered just years after establishment.

The company has simplified payment processes including school fees, hospital bills, cable television subscriptions, and utility bills, transforming services that once required physical visits and long waiting times into convenient digital transactions accessible from homes across Nigeria.

FCMB Trustees MD Warns Nigerians: ATM Passwords Cannot Protect Inherited Wealth

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FCMB Trustees MD Warns Nigerians: ATM Passwords Cannot Protect Inherited Wealth

The Managing Director of FCMB Trustees Limited, Rita Imonieroh, has issued a stark warning to Nigerians that knowing a deceased person’s bank passwords or possessing their ATM cards offers no legal protection and is an inadequate substitute for proper estate planning through valid wills or trusts.

Imonieroh cautioned that families risk losing access to assets after the death of a loved one without structured succession arrangements, noting that many Nigerians spend decades building wealth but fail to put mechanisms in place to ensure smooth asset transfer to beneficiaries.

Brandspur Banking News Desk understands that Imonieroh made the remarks during an episode of the Drinks and Mics podcast hosted by Ugo Obi-Chukwu, where she described estate planning as the critical bridge between wealth creation and wealth preservation.

To illustrate the consequences of poor succession planning, she recounted the story of a widow who continued operating her late husband’s accounts using his passwords and ATM cards after his sudden death, until a bank teller informed her that she could not access the account without either her husband or a valid will.

The widow was subsequently left struggling to meet everyday financial obligations including school fees and rent, demonstrating the vulnerability of families who rely on informal access arrangements rather than legally recognised succession documents.

Imonieroh also referenced the estate planning structures of the late pop icon Michael Jackson, whose 2002 will transferred his assets into a family trust for the benefit of his mother and children, though a proposed $600 million deal involving his music catalogue later sparked family legal disputes.

Also read: https://brandspurng.com/2026/06/22/techbbq-secures-620000-grant-to-build-permanent-nordic-africa-startup-talent-bridge/

She explained that the administration of a trust is governed entirely by the trust deed established by the settlor, which stipulates the powers, instructions, and intentions of the individual creating the trust.

Trustees are legally bound to manage assets strictly in accordance with those instructions and cannot arbitrarily enrich themselves through trust administration, with trustees in Nigeria typically earning only agreed fees or a share of income generated from managed liquid assets.

Imonieroh also clarified the distinction between trustees and protectors, noting that protectors serve as oversight figures ensuring trustees act in accordance with the trust deed and the wishes of the settlor.

Estate planning professionals emphasise that wills and trusts are not exclusively for the wealthy, with anyone holding savings, investments, property, dependents, or specific asset distribution wishes potentially benefiting from having an estate plan.

The absence of a clear succession plan can leave families facing legal hurdles, delayed access to funds, and uncertainty during periods when financial stability is often most needed.

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