AIICO Insurance Appoints Three New Directors To Strengthen Board Leadership And Corporate Governance

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AIICO Insurance Plc has announced the appointment of three new directors to its board as the company moves to strengthen corporate governance, strategic oversight, and long-term business growth within Nigeria’s insurance industry.

The appointments include Sadiq Mohammed as Independent Non-Executive Director, while Tunde Mabawonku and Rolake Akinkugbe-Filani join the board as Non-Executive Directors.

The company disclosed that the newly appointed directors bring decades of experience spanning financial services, banking, infrastructure finance, capital markets, investment management, digital transformation, and strategic advisory operations.

Brandspur Banking News Desk reports that the board expects the appointments to further enhance institutional governance and support AIICO Insurance’s expansion strategy within Nigeria’s evolving financial services sector.

Sadiq Mohammed, founder and Chief Executive Officer of Hexium Investments, has over three decades of experience across pensions, infrastructure, real estate, fintech, and alternative investments.

He previously spent nearly three decades at ARM Group, where he served in multiple executive positions including Deputy Group Chief Executive Officer, Managing Director of ARM Pension Managers, and Chief Operating Officer.

Mohammed has also served on the boards of FMDQ Group and FMDQ Clear Limited and currently holds board positions at Meta Digital Services Nigeria Limited and DCSL Corporate Services Limited.

Tunde Mabawonku currently serves as Executive Director overseeing Finance, Retail and Digital Business at Wema Bank Plc and has accumulated more than 25 years of experience in banking, strategy, finance, risk management, and digital operations.

Before joining the executive management team at Wema Bank, he held senior leadership roles across several financial institutions, where he managed financial control, business strategy, performance management, and corporate advisory functions.

Rolake Akinkugbe-Filani, who currently leads EnergyInc Advisors as Founding Managing Director and Chief Executive Officer, brings extensive experience in energy finance, development finance, capital mobilisation, and risk governance across African markets.

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Her professional career includes roles at Zenith Bank Plc, Ecobank Group, FBNQuest Merchant Bank, Mixta Africa, and Control Risks Group.

The appointments come as AIICO Insurance continues to post stronger financial performance on the Nigerian Exchange.

The insurance company recently reported a pre-tax profit of N5.8 billion for the first quarter of 2026, compared to N5.1 billion recorded during the same period in 2025.

Premium income also rose significantly to N55.4 billion, while claims paid increased to N25.1 billion, reflecting continued business growth and expanding insurance activities within the period.

AIICO Insurance shares have gained more than 21 per cent year-to-date on the Nigerian Exchange, with the stock currently trading at N4.60 per share.

GovGuide Nigeria Sparks Debate Over AI Accuracy, Public Trust And Digital Governance

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Nigeria’s emerging artificial intelligence ecosystem has triggered fresh conversations around public trust, institutional accountability, and the future of AI-driven governance following comparisons between government and consumer AI platforms.

The discussion gained momentum after technology analyst Femi Ariyo examined how different AI systems responded to a public information query relating to the leadership of the Financial Policy and Regulation Department at the Central Bank of Nigeria.

The comparison involved OpenAI’s ChatGPT, Google’s Google Gemini, and GovGuide Nigeria, the newly launched AI-powered government chatbot developed with support from Meta using the Meta Llama large language model ecosystem.

Brandspur Tech News Desk reports that while ChatGPT and Gemini attempted to identify a possible departmental director using publicly available information and contextual reasoning, GovGuide Nigeria declined to provide an unverified answer and instead directed users to official communication channels within the Central Bank of Nigeria.

The differing responses have intensified discussions around the role of artificial intelligence in governance, particularly the balance between conversational efficiency and institutional accuracy.

Analysts say consumer AI systems are typically designed to provide broader knowledge synthesis and conversational engagement, while government AI platforms are expected to prioritise legal compliance, verified data, institutional accountability, and public trust.

Experts also noted that AI hallucination — where systems generate convincing but inaccurate information — remains one of the biggest global concerns surrounding generative artificial intelligence, especially in sensitive sectors such as banking, healthcare, security, taxation, immigration, and public administration.

According to Ariyo, GovGuide Nigeria’s cautious response may reflect a deliberate governance strategy aimed at preventing the spread of inaccurate or unverifiable information through official government channels.

The conversation has also highlighted wider concerns over Nigeria’s public data infrastructure and digital readiness for large-scale AI deployment.

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Industry observers argue that effective government AI systems require structured databases, interoperable digital records, machine-readable public information, updated metadata systems, and transparent institutional documentation frameworks to function efficiently.

Without strong digital infrastructure, analysts warn that public-sector AI platforms could struggle between refusing too many requests and risking misinformation through inaccurate responses.

Despite the concerns, stakeholders believe AI adoption within governance could significantly improve multilingual communication, public service delivery, digital inclusion, administrative efficiency, and citizen engagement if implemented with strong oversight and accountability mechanisms.

The development marks another step in Nigeria’s growing interest in artificial intelligence as policymakers, technology companies, and public institutions increasingly explore AI-powered solutions capable of transforming governance and public sector operations nationwide.

Federal Government Declares May 27 And 28 Public Holidays For Eid-El-Kabir Celebration

The Federal Government has announced Wednesday, May 27, and Thursday, May 28, 2026, as public holidays to commemorate this year’s Eid-el-Kabir celebration across Nigeria.

The declaration was made by the Minister of Interior, Olubunmi Tunji-Ojo, through a statement issued by the Permanent Secretary of the Ministry of Interior, Magdalene Ajani.

According to the ministry, the holiday declaration reflects the Federal Government’s recognition of the spiritual importance of Eid-ul-Adha to millions of Muslims in Nigeria and across the world.

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Brandspur Politics News Desk reports that the Interior Minister congratulated Muslim faithful at home and in the diaspora, describing Eid-el-Kabir as a sacred festival that symbolises sacrifice, obedience to God, compassion, and faith.

Tunji-Ojo urged Nigerians to use the festive period to pray for national peace, unity, security, and economic prosperity as the country continues efforts toward stability and development.

The minister also encouraged citizens to embrace peaceful coexistence, tolerance, and brotherhood during the celebration, stressing the importance of national unity regardless of religious or ethnic differences.

The Federal Government further wished Muslims across Nigeria a peaceful, joyful, and spiritually rewarding Eid-ul-Adha celebration.

Eid-el-Kabir, also known as Eid-ul-Adha, is one of the most significant Islamic festivals observed globally and is traditionally marked by prayers, charity, family gatherings, and acts of sacrifice in remembrance of Prophet Ibrahim’s devotion and obedience to God.

Top 10 Best-Funded Nigerian Startups In 2026 As Investors Focus On Fintech, Energy And Deeptech

Nigeria’s startup ecosystem recorded a slower funding pace in 2026 as global investors adopted a more cautious approach to venture capital financing amid economic uncertainty and tighter market conditions.

Despite the slowdown, several Nigerian startups continued to attract significant investment across sectors including fintech, logistics, healthcare, education, energy, and deep technology, reflecting sustained investor confidence in scalable and innovation-driven businesses.

Data from industry reports showed that Nigerian startups secured about $78.6 million through 15 disclosed deals in the first quarter of 2026, representing a notable decline compared to the same period in 2025 as rising interest rates and stricter investment conditions reshaped global funding activity.

Brandspur Tech News Desk reports that investors are increasingly prioritising startups with strong revenue potential, sustainable business models, and clear profitability paths rather than aggressive expansion strategies that previously dominated the ecosystem.

The changing investment climate has also pushed many founders toward combining venture capital with debt financing to reduce equity dilution and manage operational costs more efficiently.

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Among the startups attracting major funding attention in 2026 is Beacon Power Services, which secured $2 million in debt financing to strengthen electricity and water infrastructure solutions across Nigeria.

The company said the financing would support the acquisition and deployment of smart meters for transformers, substations, and other grid infrastructure aimed at improving data monitoring, enhancing grid visibility, and reducing persistent power outages.

Industry analysts noted that while total startup funding volumes have declined compared to previous years, capital inflows are becoming more concentrated around sectors considered essential to Africa’s long-term economic transformation.

Nigeria remains one of Africa’s leading technology hubs despite increasing competition from other markets on the continent, with investors continuing to back startups capable of solving critical infrastructure, financial inclusion, logistics, healthcare, and energy challenges.

The evolving funding landscape is expected to encourage stronger financial discipline among startups while pushing founders to build more resilient and sustainable business operations capable of attracting long-term institutional investment.

NSCDC Seals Inner Galaxy Steel Facilities Over Alleged Railway Vandalism And Economic Sabotage

The Nigeria Security and Civil Defence Corps has sealed facilities belonging to Inner Galaxy Steel across the country over alleged involvement in the vandalism and recycling of railway infrastructure and other critical national assets.

The enforcement action followed a court order obtained by the NSCDC after the arrest of suspects and the recovery of vandalised railway materials allegedly traced to the company’s premises located in Birnin Yero, Igabi Local Government Area of Kaduna State.

During a media briefing at the Kaduna facility, NSCDC National Public Relations Officer, Babawale Afolabi, disclosed that the suspects are being investigated for conspiracy, destruction of railway infrastructure, theft, concealment of stolen property, obstruction of railway operations, and alleged financing of terrorism.

Brandspur Security News Desk reports that the NSCDC secured a valid court order and search warrant authorising the sealing of the affected premises and the transfer of recovered railway sleepers and tracks to the Nigerian Railway Corporation as exhibits for prosecution.

According to the Corps, the facilities will remain under seal pending the conclusion of investigations. The court order reportedly extends to facilities linked to Jiuxing Integrity Industrial Ltd in Abia and Zamfara states, alongside other connected branches nationwide.

Afolabi further alleged that some arrested staff members confessed during interrogation that vandalised railway materials and components from critical infrastructure were routinely transported to the company’s facilities for melting and recycling into products including roofing sheets and nails.

The NSCDC also confirmed that several Chinese nationals connected to the investigation have been invited for questioning but are yet to appear before investigators.

Commandant General of the NSCDC, Ahmed Audi, urged Nigerians to support security agencies with credible intelligence capable of curbing vandalism and economic sabotage across the country.

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Audi directed operatives attached to the CG’s Special Intelligence Squad, led by Appollos Dandaura, to ensure professionalism and diligence throughout the investigation process.

He maintained that all suspects found culpable would face prosecution in accordance with the law while reaffirming the Corps’ commitment to protecting critical national infrastructure nationwide.

The NSCDC also commended the judiciary for granting the court order and praised members of the media for supporting efforts aimed at exposing economic crimes and safeguarding public assets.

Railway vandalism has remained a major concern in Nigeria despite significant government investments in rail transportation projects such as the Abuja-Kaduna and Lagos-Ibadan standard gauge rail lines. Security agencies have repeatedly warned that attacks on railway infrastructure continue to threaten public safety, disrupt transportation services, and increase maintenance costs nationwide.

Friso Champions Good Gut Health this World Digestive Health Day with The Secret Garden to Good Poop

SINGAPORE – Media OutReach Newswire – 26 May 2026 – Parents know that good gut health matters, but terms like gut microbiota, prebiotics, and probiotics can often feel overwhelming and difficult to understand. This World Digestive Health Day (WDHD), Friso, a leading nutrition formula milk brand with over 150 years of Dutch dairy expertise, is simplifying the science behind digestion by bringing to life the concept of a “gut garden” through the sixth edition of its long-standing Good Poop Matters, Baby! campaign.

Through The Secret Garden to Good Poop, Friso aims to help families better understand how everyday habits and nutrition can nurture a healthy digestive system in young children. Over the years, the national campaign has emphasised the important roles a well-balanced diet, regular exercise, and sufficient sleep play in helping young children achieve good poop – and this year’s edition spotlights what happens inside the gut, empowering parents with practical ways to support good digestion from within.

Breaking Down the Science of Gut Health

While many parents recognise the importance of good gut health, concepts such as gut microbiota, prebiotics, and probiotics can often feel complex and difficult to grasp.

To bridge this gap, Friso brings these ideas to life with The Secret Garden to Good Poop. Much like a garden, a child’s gut needs the right balance of nutrients to thrive. Through this “gut garden” concept, Friso aims to help families better understand everyday habits and the role nutrition plays in nurturing a healthy digestive system, empowering parents with practical knowledge and simple steps to support their child’s digestion and overall wellbeing.

“At Friso, we believe good gut health plays a foundational role in a child’s growth and development. Through The Secret Garden to Good Poop, we aim to simplify complex concepts like gut microbiota into something parents can easily understand,” said Carmen Lim, Brand and Digital Manager, Friso Singapore. “Through an immersive garden experience, we bring Good Poop Matters, Baby! to life, educating families on gut health and showing how daily care and nutrition nurture good digestion, helping build trust from the inside out.”

Bringing The Secret Garden to Good Poop to Life

To celebrate WDHD, Friso will host The Secret Garden to Good Poop, an invite-only experiential event held in partnership with The Sundowner, a nature experience centre located at Bukit Timah Fire Station. Invitees will be guided through a curated programme focused on foundational gut health education, including a farm-to-table pizza making workshop that encourages children to “eat the rainbow”, bringing the ‘gut garden’ concept to life.

“At The Sundowner, we’ve always believed in creating meaningful, nature-led experiences that reconnect families with where their food comes from,” said Clarence Chua, Founder, The Sundowner. “Partnering with Friso for The Secret Garden to Good Poop allows us to bring this philosophy to life in a way that is both fun and educational, helping our participants understand the connection between nature, nutrition, and gut health through hands-on activities.”

As part of the experience, parents will also gain insights from registered dietitian, Sherllie Kartika, on how to support their child’s gut health through everyday nutrition and habits.

Said Sherllie, “Many parents recognise the importance of gut health but may feel overwhelmed by terms like microbiota or pre/probiotics. Using a ‘gut garden’ analogy can make the concept more approachable, helping parents visualise how everyday habits, such as offering a variety of foods, help nourish beneficial bacteria in the gut. When children’s digestive systems are supported in this way, they are better able to digest and absorb the nutrients needed for healthy growth and development.”

Friso‘s Commitment to Care Takes Flight to the Netherlands

As part of its broader commitment to children’s gut health, Friso also highlights the role careful milk processing can play in supporting digestion. It was found that high heat treatment can change the structure of milk protein, potentially affecting how easily they are digested. In contrast, gentler processing (or mild heat treatment) approaches may help preserve milk protein closer to its natural state, so it is easy to digest.

This philosophy came to life during a recent trip to the Netherlands, where local singer-songwriter Derrick Hoh and content creator Jeanette Ong visited Friso’s farms, R&D facilities, and production sites to better understand how the brand approaches milk production and nutritional care from source to formula.

A Continued Commitment to Gut Health

Since its launch in 2020, Friso’s Good Poop Matters, Baby! has been leading advocate for children’s gut health in Singapore. Through education, partnerships, and engaging experiences over the years, the campaign has helped parents better understand the role of digestion in their child’s overall wellbeing.

For more information on Friso’s Good Poop Matters, Baby! campaign, please visit friso.com.sg/good-poop-matters-baby.

Hashtag: #Friso

The issuer is solely responsible for the content of this announcement.

About Friso and FrieslandCampina

Produced and packed in The Netherlands, Friso is present in over 25 countries and ranked as one of the Top 51 formula milk brands in Asia. FRISO is a brand under one of the world’s largest dairy companies, FrieslandCampina, which is also a cooperative jointly owned by over 18,000 dairy farmer members from over 12,000 dairy farms in the Netherlands, Germany, and Belgium. Founded in 1871, FrieslandCampina has over 150 years of expertise in milk and its application, allowing it to produce a wide range of quality, nutrient-rich foods including dairy-based beverages, toddler nutrition, cheese, functional dairy-based ingredients and more for consumers, businesses, and industries worldwide.

1Source: Euromonitor, 2018

When Egusi Became The Ultimate Test: MasterChef Nigeria Delivers Another Shocking Elimination

The heat in the MasterChef Nigeria kitchen reached boiling point as the competition took an emotional turn in this week’s gripping Pressure Test challenge. After falling short in last week’s Team Challenge, Demilade, Fads, Loye and Favy found themselves battling for survival with their MasterChef dreams hanging delicately in the balance.

Waiting for them at the centre of the storm was a deceptively simple yet technically demanding dish by celebrated Nigerian chef, Chef Soliat Bada an elevated Egusi and Corn Bisque that fused comfort, creativity and modern Nigerian flavours into one unforgettable bowl.

A former world-class athlete turned culinary innovator, Chef Soliat has built a reputation for reimagining Nigerian cuisine with bold sophistication. But while her dish looked warm and familiar, it quickly became clear that this challenge was anything but comforting. With no recipe, no clues and no questions allowed, the contestants had only one thing to rely on — their instincts and their palates. One wrong move could send one of them out of the competition for good.

For Demilade, the stakes felt especially heavy. As captain of the losing Red Team, she carried the burden of the previous challenge’s defeat into the kitchen pressure that visibly weighed on her throughout the episode. Struggling to decode the dish and overcome mounting self-doubt, she admitted she was cooking from a difficult emotional place, believing that great food comes from love and positive energy. Despite the emotional battle, she pushed through to complete her plate. Unfortunately, her dish failed to meet the judges’ expectations, bringing her MasterChef Nigeria journey to an emotional end.

From the gantry, last week’s winning Blue Team David, Preye, Isabella and Derry watched safely as the pressure unfolded below. Fresh off their Fashion Challenge victory, they were free from elimination and cheered on their fellow contestants through every tense moment.

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Fads was confident that her strongest asset in the kitchen was her palate — a skill that proved invaluable in this challenge. As she put it, “This is not an inspiration challenge, it’s a replication challenge.” Trusting her tastebuds every step of the way, Fads successfully recreated Chef Soliat’s Egusi and Corn Bisque, earning praise from the judges for her efforts.

While Favy wrestled with the presentation of her dish, the flavours told a different story — earning praise for being spot on.

Loye served up a polished plate — a major step forward in an area that had challenged him earlier in the competition. According to Chef Eros, for the first time, Loye stopped overthinking and allowed his instincts to take the lead in the kitchen. The result was what Chef Eros described as Loye’s most delicious dish yet — a performance that earned him the coveted Dish of the Day title.

But the competition is far from over.

Next week, the remaining home cooks face yet another intense Black Apron Challenge where tensions rise, nerves are stretched thin, and one mistake could prove fatal in the race to become Nigeria’s next MasterChef.

For more information and a chance to win exciting prizes, visit MasterChef Nigeria and join the conversation on social media: Facebook: MasterChef Nigeria Facebook | Instagram: @masterchefngr | TikTok: @masterchefngr on TikTok | X: @masterchefngr on X

MasterChef Nigeria airs weekly on Sundays at 7pm on Africa Magic Showcase and Africa Magic Family, with rebroadcasts on Wednesdays at 6pm on Africa Magic Showcase and Thursdays at 12pm 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.

Nigeria GDP Growth Slows To 3.89 Percent In Q1 2026 Amid Mixed Sector Performance

Nigeria’s economy recorded a slower growth rate of 3.89 percent year-on-year in real terms in the first quarter of 2026, according to the latest Gross Domestic Product (GDP) report released by the National Bureau of Statistics (NBS).

The figure shows a decline compared to the 4.07 percent growth recorded in the fourth quarter of 2025, although it remains higher than the 3.13 percent posted in the corresponding period of 2025.

The NBS data indicates that economic activity continued to expand across key sectors, with agriculture posting a notable rebound during the review period.

Brandspur Economy News reports that the agricultural sector grew by 3.15 percent in Q1 2026, marking a strong recovery from the marginal 0.07 percent growth recorded in the same period of 2025.

The industrial sector also recorded moderate expansion, rising to 3.50 percent from 3.42 percent year-on-year, reflecting gradual improvements in production activities and output levels.

However, the services sector remained the dominant driver of economic performance, contributing 57.73 percent to total GDP, slightly higher than its 57.5 percent share in Q1 2025.

According to the report, Nigeria’s nominal GDP rose significantly to N110.78 trillion during the quarter, compared to N94 trillion recorded in the same period of the previous year, representing a 17.79 percent year-on-year increase.

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The statistical agency also confirmed that real GDP for the period stood at N51.26 trillion, highlighting continued expansion despite slower growth momentum.

Economic analysts say the latest figures reflect a mixed macroeconomic environment where improvements in agriculture and industry are being offset by broader structural pressures within the economy.

The latest GDP report provides fresh insight into Nigeria’s economic trajectory as policymakers continue efforts to stabilize growth, manage inflation, and strengthen key productive sectors.

Achievers University Discovers N457 Million Tuition Fraud Involving Staff And Students

Achievers University, Owo, Ondo State, has uncovered a large-scale tuition payment fraud amounting to N457,508,645 after concluding a comprehensive audit of students’ fees payment records spanning multiple academic sessions.

The institution revealed that the fraud involved manipulation of its student payment portal, where funds meant for school fees were diverted into personal accounts while records were fraudulently adjusted to reflect completed payments.

According to the university, the scheme reportedly spanned the 2023/2024, 2024/2025 and 2025/2026 academic sessions, affecting hundreds of students who unknowingly paid into private accounts instead of official school channels.

Brandspur Education News reports that the fraud was allegedly orchestrated by a former staff member who previously worked in the university bursary after graduating from the institution’s Accounting Department.

University authorities stated that about 320 students were affected after being lured into paying their tuition fees into the personal bank account of the former employee, who reportedly offered discounts and incentives to encourage compliance.

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Investigations also revealed that 11 staff members and 34 students allegedly acted as intermediaries in recruiting others into the fraudulent payment arrangement, while an external accomplice linked to a medical facility in Owo was also implicated.

The institution confirmed that all identified students and staff connected to the scheme will face disciplinary panels, while the principal suspect is currently under police investigation for possible prosecution.

Authorities added that a full audit of student payments will continue, particularly focusing on graduates from the affected academic sessions to ensure all transactions are properly verified and reconciled.

The university management emphasized that the exercise was approved by its governing council to ensure transparency, accountability, and the elimination of misinformation within the school community.

Officials said the development underscores ongoing efforts by tertiary institutions in Nigeria to strengthen financial oversight systems and curb internal fraud within administrative and academic processes.

Indomie Sparks Nationwide Joy As 100,000 Kids Brace For Epic Children’s Day Experience

Lagos, Nigeria – May 25, 2026

Indomie, Nigeria’s leading instant noodles brand, has announced plans for a nationwide Children’s Day celebration designed to create memorable experiences for children and families across the country.

The 2026 celebration, themed around fun, happiness, and togetherness, will culminate in a flagship event on May 26, 2026, at the Apapa Amusement Park, Lagos, alongside simultaneous activations in key cities including Abuja, Port Harcourt, Enugu, Anambra, and Abeokuta, among others.

As part of the celebration, Indomie is expected to host over 100,000 children nationwide through a series of exciting activities, including games, music, dance, entertainment, food experiences, educational engagements, and interactive family-friendly attractions.

Speaking ahead of the event, Temitope Ashiwaju, Group Corporate Communications and Events Manager, Dufil Prima Foods Ltd. (manufacturer of Indomie Instant Noodles), said the brand remains committed to celebrating children and supporting moments that inspire happiness and creativity.

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“Children represent the heart of our future, and at Indomie, we believe every child deserves moments of joy, laughter, and togetherness. Children’s Day gives us another opportunity to connect with families across Nigeria and create unforgettable experiences that reflect the love and happiness the Indomie brand has shared with Nigerians for generations,” Ashiwaju said.

For decades, Indomie has remained a household favourite among Nigerian families, consistently championing initiatives that support children’s growth, well-being, and development through nutrition, education, and entertainment-focused engagements.

The Children’s Day celebration further reinforces the brand’s enduring connection with millions of children across the country while promoting shared family experiences and community bonding.

The nationwide festivities are expected to attract families, schools, community groups, and children from diverse backgrounds in what promises to be one of the largest Children’s Day celebrations in Nigeria.