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UBA revamps agency, merchant banking services

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The United Bank for Africa Plc has introduced a new Aggregator Sales Structure for its RedPay POS and Agency Banking Network, aiming to strengthen its relationships with partners and promote greater financial inclusion throughout Nigeria.

The newly launched multi-benefit structure was unveiled at the inaugural UBA Aggregator Engagement Session, held at the bank’s head office in Lagos on Tuesday. The session, themed ‘POS-itive Impact: Connecting Agents, Merchants, and Customers’, served as a collaborative platform to align strategies for scaling the UBAMONI Agency Banking ecosystem and bringing together key industry aggregators, Point-of-Sale partners, and network managers.

UBA’s Executive Director Designate, Digital Banking, Emmanuel Lamptey, who spoke at the event, said, “Today’s session marks a pivotal step in our collective journey to democratise financial access in Nigeria.

By bringing together our valued aggregators and partners, we are strengthening the ecosystem that connects UBA directly to communities and ensuring that reliable financial services are within everyone’s reach.”

Emphasising the need for partnerships, UBA’s Head of Digital Banking, Shamsideen Fashola, who presented the keynote address, outlined the strategic imperative behind the new structure.

“Our aggregators are fundamental to realising our ambition of building Africa’s most impactful digital collections network. This structured framework is designed to be scalable, transparent, and mutually rewarding, empowering our partners with the technology and support needed to drive agent productivity as well as serve underserved communities effectively,” Fashola noted.

The lender said that the platform delivers comprehensive value to agents and aggregators alike, featuring instant settlement, reliable transaction processing, real-time dashboard reporting, and a full suite of services, including dispute and terminal management, analytics, card withdrawals, bill payments, and pay-with-transfer.

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For aggregators specifically, the model provides a structured opportunity to onboard and manage agents within UBA’s network and access attractive incentives and commissions, as well as leverage a dedicated Aggregator Admin Portal for real-time visibility into agent performance and transactions.

Adetunji Iyiola, UBA’s Head of Agency Banking, highlighted the customer-focused nature of the initiative, saying the new structure significantly enhances collaboration between UBA, its merchants, and agents.

“This rollout is about creating superior value for every stakeholder and enabling better service delivery to customers while ensuring our partners have the tools and incentives to thrive. It reinforces our promise to deliver essential banking services exactly where they are needed most,” he said.

With the introduction of the aggregator framework, UBA further cements its leadership in pioneering innovative digital financial solutions that bridge the inclusion gap and drive economic empowerment across the African continent.

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Technology key to implementing new tax laws – Adedeji

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The Executive Chairman of the Nigerian Revenue Service, Zacch Adedeji, says technology is a crucial factor in the implementation of the new tax laws.

Adedeji made the statement on Wednesday during the inaugural convocation lecture at the Federal Polytechnic, Ayede, in Ogo-Oluwa Local Government Area, Oyo State, titled “The Role of Technology in Implementing Nigeria’s New Tax Laws: Challenges, Prospects, and Implications for National Development”.

In a statement by his Technical Assistant on Print Media, Sikiru Akinola, the NRS chairman listed some of the most fundamental challenges confronting taxation to include infrastructure, skills, trust and resistance.

He said each of these challenges would be addressed with the imminent upgrading of the country’s tax system for a digital environment: “Nigeria has recently enacted a new set of tax laws, representing the most significant restructuring of our nation’s fiscal legislation in 50 years. While public conversation often frames these changes as legal reforms, and that is true, it is also an incomplete picture.

“These laws are not merely changing rates, definitions, or administrative powers. They are quietly redefining how authority operates within the tax system. This is a complete structural overhaul, signalling the end of tax collection as a manual task and the beginning of tax intelligence. If you read the new laws carefully, you will notice a subtle but profound assumption woven throughout their fabric. They presuppose the existence of reliable taxpayer identification, integrated data across institutions, traceable transactions, automated processes, and scalable enforcement.

“In other words, these laws are built for a digital environment. They cannot function properly in a manual, fragmented, paper-based system. The implication is clear: without technology, the laws remain aspirational. With technology, they become operational. This transition is central to the mandate of the Nigeria Revenue Service as we implement this new legal framework. Historically, tax administration relied heavily on human discretion over who was registered, who was assessed, who was audited, and who was penalised. While discretion is not inherently evil, excessive discretion creates inconsistency, which in turn breeds mistrust and drives non-compliance.”

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Speaking further, Adedeji noted that when infrastructure improves, capacity grows, trust is protected, and resistance is managed just as technology begins to do what policy alone cannot.

“One of the most important prospects of a technology-driven tax administration is the ability to expand the tax base without increasing tax rates. This matters deeply in a society where citizens already feel overburdened.

“By improving visibility and bringing previously unseen economic activity into view, technology levels the playing field. When compliance broadens, the pressure on the existing base reduces, fairness improves, and legitimacy grows. This is how modern tax systems grow revenue sustainably,” he added.

In his remark, the Speaker of the House of Representatives, Tajudeen Abbas, encouraged the graduating students to be good ambassadors of the institution.

Abass, who was represented by the senator representing Oyo North, AbdulFatai Buhari, charged them not to relent in their efforts to acquire more knowledge.

The institution’s governing council chair, Yakubu Datti, commended Adedeji for leading the re-engineering of Nigeria’s tax architecture.

The Rector of the institution, Dr Taofeek Abdul-Hameed, charged the graduating students to emulate Adedeji, who, he said, began his journey from a polytechnic.

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CCB quizzes OSOPADEC leadership over alleged N463m misappropriation

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The Code of Conduct Bureau on Wednesday quizzed the leadership of the Ondo State Oil Producing Areas Development Commission over alleged misappropriation of funds belonging to the commission to the tune of N463m.

Those invited by the CCB included the secretary of the commission, Mrs Abike Bayo-Ilawole, and two other directors.

Bayo-Ilawole, who was among the public servants recently promoted to the position of permanent secretary in the state, was alleged to have been involved in the misappropriation of about N463m in the commission a few weeks ago.

She was specifically accused of diverting part of the money to a private bank account.

Speaking with journalists after being questioned by CCB officials at the bureau’s office in Akure, Ondo State, on Wednesday, Bayo-Ilawole said she was invited over allegations of fund misappropriation but maintained that she was innocent.

She said, “I was invited by the Code of Conduct over alleged fund misappropriation. We just started the investigation. The allegation is about N463m. I told them nothing of such happened, and the record will speak for itself.”

On the allegation of diverting money to a personal account, she said, “I said the record will speak for itself. It is not true. The one they quoted, that money was sent to my father’s account, was for a long-term project.

“My father was a contractor then, and it was not up to that amount. But the record will speak for itself, as I said.

“The two officers whose names were mentioned supervised other colleagues. It could be their allowances or what they needed to spend on the project.

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“They should allow me to go through the records so we can separate the issues and know what actually transpired. One major thing is that the fund was not released at once; it was over a period of time.

“We have projects such as school renovations, transformers and office renovations. Our areas are riverine, so we move around for supervision.

“We are not talking about missing funds. The projects were completed. We followed the necessary procedures before executing the projects.”

She insisted that she had documents to back her official dealings in the commission, reiterating that “the record will speak for itself.”

Also speaking, the Director of Project Planning and Development at OSOPADEC, Mr Olukorede Adeshina-Oladapo, said he was invited over an allegation circulating on social media.

He said, “What was on social media was not correctly presented.

“In the office, we got approval from the governor to carry out direct labour jobs. We had 21 school renovation projects, renovation of the area office, construction of culverts in Atijere and renovation of an office complex. Those transactions were done through direct labour.

“We have a procurement committee. Other management staff were involved, and records of meetings were kept. We reported to the Office of the Director of Public Prosecutions, which benchmarked the project requests.

“It was not only the 21 projects approved by the governor, but we selected those that were urgent and could be attended to immediately. Those were the ones executed.

“Before we proceeded, after the governor’s approval, we requested a ‘no objection’ from the appropriate office, and it was granted.

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“As we complete the projects, we also apply for certificates of completion. Some of the projects have been completed, while funds for others are still in the account. No fund is missing.”

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Blackouts: N300bn electricity power lifeline for hospitals, varsities hits snag

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The Federal Government’s ambitious plan to provide stable electricity to federal universities and tertiary hospitals has suffered a major setback following the non-release of funds allocated in the 2025 budget, The PUNCH reports.

Although over N300bn was earmarked in the 2025 Appropriation Act for the special energy intervention, no funds have been released, resulting in zero implementation progress on the project announced last year.

Confirming the development, the Special Adviser on Media to the Minister of Power, Bolaji Tunji, said the initiative had stalled due to the absence of budgetary releases.

When asked about the status of the proposed special energy project for teaching hospitals and universities, Tunji said, “Zero funding has been released for the 2025 budget for the project, so there has been no progress on the project.”

The intervention was conceived to address persistent power shortages in critical public institutions, particularly teaching hospitals and universities, many of which depend heavily on diesel generators to sustain operations.

The PUNCH recalls that the Federal Government had set aside about N300bn in the 2025 budget to deliver stable and sustainable electricity to these institutions, largely through solar hybrid and renewable energy solutions.

The allocation was earlier announced by the Chairman, House Committee on Appropriation, and member representing Bichi Federal Constituency, Abubakar Bichi, during the inauguration of a solar hybrid intervention project at the Aminu Kano Teaching Hospital, Kano.

Bichi said the initiative formed part of the President Bola Tinubu administration’s efforts to end recurring power outages in critical sectors, especially healthcare and tertiary education.

According to him, “This intervention is designed to guarantee uninterrupted power for hospitals and universities so that doctors can save lives and students can study without disruption.”

He explained that the allocation would support the installation of renewable energy systems, with priority given to institutions delivering essential services to Nigerians.

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Bichi added that beyond improving power stability, the projects were expected to cut high electricity costs, enhance operational efficiency, and promote clean and sustainable energy use in public institutions.

He also commended the Minister of Innovation, Science and Technology, Uche Nnaji, for what he described as leadership in translating the government’s vision into actionable projects, noting that the Energy Commission of Nigeria would work with relevant agencies to ensure timely delivery.

The lawmaker further praised President Tinubu for approving special budgetary provisions aimed at addressing long-standing electricity challenges in tertiary hospitals and universities nationwide.

Providing background, Bichi said the proposal gained momentum during deliberations on the 2025 appropriation bill after Chief Medical Directors of teaching hospitals across the country raised concerns.

He recalled that in November 2024, the CMD of the University of Maiduguri Teaching Hospital, among others, highlighted the crippling cost of electricity and diesel, with some facilities spending up to N200m monthly to power critical equipment.

“The issue was discussed with the leadership of the National Assembly and subsequently escalated to Mr President, who directed that funds for solar hybrid projects be included in the 2025 budget,” Bichi said.

He disclosed that about N300bn was eventually provided in the budget to support electricity supply in all federal universities and tertiary hospitals, listing Aminu Kano Teaching Hospital, Bayero University Kano, Murtala Muhammad Specialist Hospital, and Nasarawa Hospital among beneficiaries.

However, with no releases made so far, stakeholders fear the ambitious intervention may remain on paper, as hospitals and universities continue to struggle with unstable electricity supply and rising energy costs.

Budget implementation under the current administration has been constrained by funding shortfalls, delayed cash releases, and competing fiscal pressures, leading to four separate budgets running concurrently.

Although the Federal Government has consistently passed large budgets since 2023, including the 2025 Appropriation Act, execution has often trailed projections, largely due to weak revenue inflows, rising debt servicing obligations, and liquidity constraints.

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Official data show that a significant share of annual budgets is consumed by debt servicing and recurrent expenditure, leaving limited fiscal space for capital releases. Consequently, many Ministries, Departments, and Agencies have recorded partial or zero releases for capital projects, even where funds were duly appropriated by the National Assembly.

In several cases, projects captured in the budget remain at the planning or announcement stage, with implementation dependent on subsequent cash backing by the Ministry of Finance and the Budget Office of the Federation.

Budget analysts note that while appropriation signals policy intent, actual execution depends on cash availability, making projects in sectors such as power, health, education, and infrastructure vulnerable to delays when revenues fall short.

The slow pace of implementation heightens the risk of rolling over unexecuted projects into subsequent fiscal years.

Beneficiaries await projects

One year after the N300bn allocation, the Federal Government’s solar mini-grid project for hospitals and tertiary institutions has yet to commence. Findings from listed beneficiaries reveal the absence of mini-grids at their facilities, showing a return to the status quo of paying high electricity bills.

In 2024, following the upgrade and movement of institutions and hospitals to Band A feeders, the removal of subsidies in areas under Band A feeders, and the consequent rise in electricity tariffs, bills for many health and academic institutions tripled, making it difficult for them to meet obligations.

The PUNCH reported that some tertiary hospitals paid as much as N300m per month to cover electricity bills, up from less than N100m before the tariff review. Following outcry from the management of teaching hospitals and universities grappling with high electricity costs, the Federal Government approved a 50 per cent subsidy in August 2024.

Yet, in 2025, public hospitals and educational institutions continued to face high electricity tariffs, with the promise of relief largely unfulfilled. While there appears to be silence on the implementation of the electricity subsidy, the government announced the solarisation of hospitals and tertiary institutions projects.

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Listed beneficiaries of the solar mini-grids include University College Hospital, Ibadan, University of Ibadan, University of Lagos, Obafemi Awolowo University, Ile-Ife, University of Nigeria, Nsukka, and Ahmadu Bello University, Zaria.

According to the Chief Medical Director at the Lagos University Teaching Hospital, Idi-Araba, Mushin, Prof Wasiu Adeyemo, there are 84 Federal Tertiary Hospitals in the country.

Findings reveal that University College Hospital, Ibadan, a listed beneficiary, has yet to benefit from the project. The Public Relations Officer at the university, Funmi Adetuyibi, said, “We are on the list, but the mini grid is not yet on the ground.”

Also, LUTH’s CMD confirmed that the initiative was budgeted for in 2025 but has yet to begin at the hospital. “They came for some assessments, but up until now, nothing has…I guess the process is still on. That’s how far,” Adeyemo said.

It is unclear what the situation is at Obafemi Awolowo University, Ile-Ife, as calls to the Public Relations Officer were unanswered as of press time.

Responding to enquiries, the spokesperson of the Federal Ministry of Health and Social Welfare, Alaba Balogun, advised that queries be redirected to the Rural Electrification Agency, a parastatal under the Federal Ministry of Power. He noted that the ministry has neither initiated nor launched any power-related project.

With the delays, hospitals and universities continue to grapple with unstable electricity supply and rising operational costs, leaving many reliant on expensive diesel generators and exposed to recurring blackouts, underscoring the urgent need for the government to release the funds and fast-track the solar mini-grid initiative.

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