NEWS
Afreximbank, Sterling Bank to Offer Supply Chain Finance in Nigeria
The African Export-Import Bank (Afreximbank) has partnered Sterling Bank to introduce an innovative supply chain finance product ‘Payables Finance’, in Nigeria.
This is contained in a statement issued by Vincent Musumba, Manager, Communications and Events, Afreximbank on Friday.
The statement said the product, branded as ‘Afreximbank Tradelink,’ was one of Afreximbank’s digital offerings under the umbrella of the Africa Trade Gateway (ATG).
It said ATG provided African corporates and commercial banks with relevant digital tools to access market information and connect with buyers and sellers across the continent for efficient marketing and procurement.
“It also facilitates Know Your Customer (KYC) processes, and promotes trade payments between African countries in local currencies.”
The statement said ‘Payables Finance’ enabled suppliers to access financing from the banking system by obtaining early payment for invoices that have been approved for payment by their corporate buyers.
“The buyers continue to receive trade credit from the suppliers, and the suppliers finance their working capital through the early payment received, enabling them to grow their business.
“ The financing cost is linked to the credit rating of the corporate buyers, thereby making this product particularly valuable for Small Medium Enterprises suppliers who may face challenges in accessing bank finance at competitive pricing.”
The statement said ‘Payables Finance’ was the fastest-growing trade finance product globally and there was an enormous opportunity for African businesses to benefit from it.
It said the partnership with Sterling Bank was a unique and innovative arrangement that leverages the complementary strengths of both institutions to provide a comprehensive market-led solution to Nigerian corporates and their suppliers.
“Under this arrangement, Afreximbank will provide financing to corporates and banks in both US Dollars and Euros while Sterling Bank will manage financing in Naira.
“Suppliers of Nigerian corporates can thus benefit from financing in both local and foreign currency as per their requirements.”
The statement quoted Haytham ElMaayergi, Executive Vice-President, Afreximbank Global Trade Bank, as saying “ Afreximbank identified supply chain finance as a solution for improving access to trade finance in Africa.
“The bank embarked on a journey to increase penetration through financial intervention and capacity building.
“The bank’s Factoring Working Group has done extremely well to provide lines of credit to support factoring and has actively promoted factoring across the continent in collaboration with other institutions.”
ElMaayergi said that the introduction of ‘Payables Finance” was the next step on the bank’s roadmap for supply chain finance across Africa.
“African businesses now have the opportunity to harness the potential of this product.
“This product has been widely adopted globally, at an accelerated pace by learning from the experiences of other regions and using the latest technologies which have been developed,” he said.
The statement quoted Gwen Mwaba, Director & Global Head Trade Finance, Afreximbank, as saying “the launch in Nigeria is a first step in Afreximbank’s plans to introduce ‘Payables Finance’ across Africa in partnership with leading African financial institutions.
“The product will deploy world-class technology and a collaborative delivery model.
Mwaba said the product would also contribute towards the achievement of the bank’s strategic objective of reducing the trade finance gap in Africa, particularly for the SME segment.
It quoted Chukwuka Onuaguluchi, Ecosystem Banking Head, Sterling Bank, as saying “Sterling Bank is committed to meeting the trade finance needs of Nigerian corporates and their suppliers.
“We are proud to introduce this much-needed product in partnership with Afreximbank for the benefit of Nigerian businesses,” he said.
The statement said Afreximbank provided both US Dollar and Euro financing to businesses in its member countries across Africa and in Caribbean Community (CARICOM) member countries.
It said the unveiling in Nigeria would be followed by similar partnerships in other African countries to expand local currency financing capability across the continent in a phased manner.
The statement said the adoption of the product would be supported by capacity-building events to increase awareness of supply chain finance and its benefits.
It said the product rollout in Nigeria was complemented by a workshop targeting corporate institutions and banks, in collaboration with Woodhall Capital, a leading finance company in Nigeria.
“Underpinning the delivery of these new financial products is a market-leading supply chain finance platform, developed by UK-based fintech Demica, a leader in working capital solutions.
“Demica works with the world’s leading banks to power their supply chain finance solutions. In 2021, the company established a partnership with Afreximbank to extend this technology to banks across Africa.”(NAN)
NEWS
NEPC Seeks Funding for ECOWAS Trade Promotion Network
The Chief Executive Officer of the Nigerian Export Promotion Council (NEPC), Nonye Ayeni, has urged members of the ECOWAS Trade Promotion Organisation (TPO) to seek alternate funding for its activities.
Ayeni said this in a statement issued by the Head, Corporate Communications (NEPC), Aliu Sadiq on Thursday in Abuja.
She called on the members to establish a special committee that would work closely with the Technical Committee on Financial Affairs and Resource Mobilisation to identify sustainable funding sources for the Network’s operations.
The NEPC boss was addressing the 6th Annual General Assembly (AGM) of the Network in Dakar, Senegal, where she also serves as the head of secretariat.
She said that the annual subscription of members of the network alone would not be sufficient for the implementation of the network’s core activities.
Ayeni encouraged members of the organisation to continue to be more proactive and committed in delivering on the objectives and mandate of the organisation.
She commended the network for its great achievements so far, and encouraged every member of the network to continue to implement its activities with commitment and dedication.
She also said that the activities of the network had continued to show impact towards promoting trade and regional integration in West Africa.
According to her, the organisation was established to serve as a medium for promoting trade and regional integration.
“The 6th AGM was hosted by Senegal and converged all chief executive officers of TPOs from 11 ECOWAS member states, including Nigeria.
“The meeting was facilitated by the ECOWAS Commission and attended by a representative of the West African Economic and Monetary Union (UEMOA), Robert Akinde.
“The International Trade Centre (ITC) also participated virtually and highlighted the importance of leveraging artificial intelligence to improve the operational efficiency of the Network,” she said.
Ayeni said that the AGM concluded with the re-election of Dr Edward Sandy of Sierra Leone as the President of the network and Dr. Kojo Kwoateng of Ghana as Vice President for another one year.
NEWS
Troops Rescue 13 Kidnapped Victims, Foil Terrorist Operations in Zamfara Communities
From Ifeanyichukwu Nwannah, Gusau
Troops of Joint Task Force, North West Operation Fansan Yamma (JTF NW OPFY) have rescued 13 kidnapped victims during separate intelligence-led operations in Anka and Kaura Namoda Local Government Areas of Zamfara State.
According to a statement issued by the Media Information Officer, Joint Task Force, North-west OPFY, Lt.
Colonel Aliyu Danja, in the first operation, troops of Sector 2 in Bagega responded swiftly to credible intelligence on armed terrorists moving on motorcycles towards Tungan Kudaduku in Anka Local Government Area.The statement noted that the troops were guided by real-time surveillance, the troops pursued and engaged the terrorists with overwhelming firepower, forcing them to abandon their mission and flee.
Danja explained that a follow-up search of the area led to the discovery of a makeshift terrorist camp, where five kidnapped civilians were rescued unharmed.
“In a separate operation at Ungwan Rogo, Kaura Namoda LGA, troops acted on credible intelligence of terrorist activity in the area. On contact, they engaged the terrorists in a fierce firefight, forcing them to retreat in disarray and abandon their captives”, he said.
“Eight kidnapped victims were rescued, and two vehicles recovered.
All rescued victims have been handed over to the appropriate authorities for further care and support”
“Troops continue to dominate the general area, denying terrorists’ freedom of action and sustaining pressure on criminal elements operating across the theatre”.
NEWS
Wole Soyinka at 92: Nigeria’s Literary Titan, Africa’s Conscience and Global Intellectual Powerhouse
By Ehi Braimah
There are writers, there are intellectuals, and there are moral giants whose influence transcends literature to shape the conscience of nations. Professor Akinwande Oluwole Babatunde Soyinka belongs unmistakably to the latter category.
As he celebrates his 92nd birthday, the world salutes not merely Nigeria’s greatest literary icon, but one of humanity’s most enduring champions of justice, freedom, and the dignity of the human spirit.For over seven decades, Wole Soyinka (Kongi) has stood as an unyielding voice against oppression, tyranny and intolerance.
His life has been defined by extraordinary courage, immense scholarship and a solid commitment to truth, regardless of the consequences. He is not simply a Nobel laureate; he is an institution whose intellectual influence stretches from Africa to Europe, the Americas and Asia.I had the chance of a close encounter with Kongi in August 2023, when Jahman Anikulapo, my brother, friend and colleague (Anikulapo is Editorial Director of Naija Times) and Soyinka’s trusted mentee, invited me to a Public Exchange, titled “Isese, Samarkand and Other Markets of the Mind,” held at Kongi’s Harvest Art Gallery, Freedom Park, Lagos.
The Isese masterclass in public intellectual engagement was far more than a lecture on Yoruba traditional religion – it became an important conversation on religious freedom, cultural identity, intellectual inquiry and democratic values.
At the Isese forum, we had journalists, academics, writers, lawyers, artists, theatre practitioners, traditional religious adherents, diplomats, and cultural enthusiasts. The interdisciplinary gathering of minds reflects Soyinka’s remarkable ability to convene diverse audiences.
The event came against the backdrop of controversy surrounding the celebration of Isese Day, particularly in Kwara State, where traditional worshippers faced hostility. Soyinka argued that Isese is not antagonistic to Christianity or Islam, but represents a legitimate spiritual and philosophical tradition deserving equal respect under Nigeria’s Constitution. He maintained that those who sought to suppress other people’s beliefs demonstrated insecurity rather than religious strength.
That’s Kongi for you, a global intellectual giant and highly respected cultural influencer. By describing Isese as a “quest for illumination of the human condition,” Soyinka shifted the discussion beyond ritual and religion. He presented Isese as a repository of ethics, philosophy, history, aesthetics, and indigenous knowledge. In doing so, he challenged long-held prejudices that equate African traditional beliefs with superstition, inviting Nigerians to engage seriously with their own civilisational heritage.
What I found interesting was that Soyinka didn’t deliver a lecture, but engaged in an extended dialogue, fielding questions and encouraging debate. This reinforced his lifelong belief that knowledge flourishes through critical inquiry rather than dogma.
After the Isese event, Anikulapo was able to get Soyinka to be interviewed for a recorded goodwill message for the third anniversary of Naija Times which held in Abuja on 19 October, 2023. His message was that the media must be independent and influence purposeful leadership.
When Soyinka became the first African to receive the Nobel Prize in Literature in 1986, the award recognised far more than literary brilliance. It honoured a writer who had expanded the boundaries of world literature while remaining deeply rooted in African history, mythology and philosophy.
His Nobel Prize became a defining moment not only for Nigeria but for the entire African continent, affirming that African voices deserved equal recognition on the world’s highest literary stage.
Soyinka’s remarkable body of work remains one of the richest contributions to modern literature. His plays continue to challenge audiences with their depth, symbolism and political relevance. The Lion and the Jewel brilliantly explores the tensions between tradition and modernity.
The Strong Breed examines sacrifice and communal responsibility. Death and the King’s Horseman, widely regarded as one of the greatest plays ever written, masterfully interrogates colonialism, cultural misunderstanding and moral obligation.
A Dance of the Forests, commissioned during Nigeria’s independence celebrations, remains a timeless reminder that nation-building requires honest confrontation with history rather than romantic self-deception.
His novels equally occupy an honoured place in world literature. The Interpreters captured the complexities confronting Nigeria’s post-independence intellectual class, while Season of Anomy explored resistance against corruption and authoritarianism. His memoirs – including Ake: The Years of Childhood, You Must Set Forth at Dawn and The Man Died – offer profound insights into both personal experience and national history. His essays consistently display the razor-sharp intellect and fearless honesty that have become his trademarks.
Beyond literature, Soyinka’s poetry possesses remarkable emotional and philosophical depth. His verses weave together mythology, politics, spirituality and human suffering, demanding thoughtful engagement from readers while rewarding them with profound insight. His command of language remains extraordinary, effortlessly combining Yoruba cosmology with universal themes that resonate across cultures.
Yet it is impossible to celebrate Wole Soyinka without acknowledging his lifelong activism. Throughout his life, he has repeatedly placed principle above personal comfort. During Nigeria’s civil war, he courageously sought peaceful dialogue and paid dearly for it, enduring solitary confinement for nearly two years. Rather than silence him, imprisonment strengthened his resolve. His prison writings remain among the most compelling testimonies to the resilience of the human spirit.
Across successive military dictatorships and civilian administrations alike, Soyinka has consistently spoken truth to power. He has criticised injustice wherever he has found it, refusing to align himself permanently with any political establishment. His loyalty has always been to democratic values, human rights and the welfare of ordinary citizens rather than to transient governments or political personalities.
His moral courage has inspired generations of journalists, academics, students, lawyers, playwrights and civil society activists throughout Africa and beyond. Even those who disagree with his opinions readily acknowledge the integrity that underpins his convictions.
Professor Soyinka’s influence extends well beyond Nigeria’s borders. Few African intellectuals command such an extensive global network. He has taught at leading universities across the world, including institutions in Nigeria, the United Kingdom, the United States, and the United Arab Emirates, enriching generations of students with his vast knowledge of literature, theatre, history and political thought. As a visiting professor, lecturer and public intellectual, he has become one of Africa’s most respected ambassadors in global academia.
His friendships and professional relationships span Nobel laureates, presidents, diplomats, artists, philosophers, actors and fellow writers from every continent. He has shared platforms with world leaders while remaining equally comfortable engaging young students in classrooms and public forums. His influence cuts across disciplines, making him not merely a literary figure but a global statesman of ideas.
International organisations frequently seek his counsel on democracy, cultural identity, freedom of expression and conflict resolution. Universities continue to honour him with numerous honorary doctorates and distinguished fellowships. Literary festivals across the world celebrate his contributions, while scholars devote entire careers to studying his works and philosophy.
One of Soyinka’s greatest achievements has been his ability to bridge Africa and the wider world without sacrificing his cultural authenticity. He has never diluted his African identity to gain international acceptance. Instead, he has demonstrated that authentic African experiences possess universal relevance. His writings affirm that local histories, indigenous beliefs and African traditions deserve equal space within global intellectual discourse.
His passion for theatre has similarly transformed African performance traditions. Through the Orisun Theatre Company and countless productions, he elevated African drama onto the international stage while nurturing generations of playwrights, actors and directors. Many of Africa’s leading literary voices acknowledge Soyinka as mentor, inspiration or intellectual guide.
At 92, his curiosity remains undiminished. He continues to write, travel, lecture and participate in conversations about democracy, governance, security, education, cultural preservation and global affairs. His voice retains its unmistakable authority because it is anchored not in political expediency but in lifelong consistency.
Nigeria owes Professor Soyinka an immense debt of gratitude. In an era when integrity often appears negotiable, he has demonstrated that intellectual independence remains possible. He has shown that scholarship should illuminate society rather than merely decorate academic institutions. He has reminded writers that literature carries moral responsibility, and he has inspired countless young Africans to believe that ideas can indeed change nations.
His legacy cannot be measured solely by books published, awards received or speeches delivered. It resides in the generations of thinkers he has inspired, the freedoms he has defended and the courage he has exemplified. He has become one of the defining moral voices of the twentieth and twenty-first centuries.
As Professor Wole Soyinka marks his 92nd birthday, Nigerians, Africans and admirers across the globe celebrate a life magnificently lived in service to literature, justice and humanity. His pen has challenged dictators, comforted the oppressed, educated generations and elevated African literature to its rightful place in the world.
May the years ahead continue to bless this extraordinary son of Africa with good health, clarity of mind and enduring strength. His voice remains indispensable, his example timeless and his legacy immortal.
Happy 92nd birthday, Professor Wole Soyinka.
Ehi Braimah is a PR specialist, marketing strategist, and publisher/editor-in-chief of Naija Times and Lagos Post. He can be reached through: ehi.braimah@neomedia.com.ng


