News

NEXIM Bank Unveils Digital Hub To Boost Cocoa Production

Published

2 years ago

January 11, 2024

The Nigeria Export-Import Bank has launched a digital hub, ‘Cocoa Connect Africa’ in its bid to boost cocoa production in the country.

This was disclosed by the Managing Director, NEXIM Bank, Abubakar Bello, on Thursday, while speaking on the sidelines of the International Cocoa and Chocolate Forum tagged, ‘Putting values in cocoa in producing regions,’ in Lagos State.

Bello explained that the move is to bring every activity of all stakeholders in the cocoa industry under one platform.

The MD also noted that the digital infrastructure was significant as it would help ease the stress of trade, adding that stakeholders of various commodities would be put under the digital platform.

Bello stated, “It is about somebody who has products and meeting someone who is interested in the product. It is about connection and market information. We are putting all the stakeholders on the value chain for different commodities, but the one we launched today is for cocoa and we are also doing the same for cashew.

“We are also doing so for Shea. The idea is to have a cluster because today everything is done digitally, why should our trade be lagging behind? We must create a platform for every stakeholder to log in to purchase what they want digitally from their comfort zones.”

He added that the digital platform aims to boost trade facilitation and set standards for traceability.

“The platform can be used to educate farmers, it can be used to educate regulators and pass the information on the latest developments. We must create an awareness for farmers on the latest trends, there is also a need for effective regulation in the value chain,” he said.

The NEXIM MD stated that the vision of the digital hub is to unlock the boundless potential of Cocoa in Africa.

“At Cocoa Connect Africa, we offer more than just a platform; we provide an immersive experience tailored to elevate your journey in the cocoa industry,” he noted.

In her address, the bank’s Executive Director, Business Development, Stella Okotete, said NEXIM Bank has supported Cocoa exporters with over N100 billion in the past seven years with all facilities performing and creating jobs for over 7,000 direct and 70,000 indirect jobs for Nigeria.

She added that amongst others, NEXIM created a Small and Medium Exporters Facility to support exporters, stressing that NEXIM has been supporting suppliers by growing their capacities.

She added that with the recent spike in the price of cocoa, the bank has opened up its refinancing windows to support exporters with single-digit loans.

“We are sure that the cocoa exporters will take advantage of the opportunity because it will help them to reduce the burden of the double-digit interest rate. We are ensuring that we will continue to do more,” she averred.

Participants at the event were the Oloni of Eti-Oni, Osun State, who is also the Founder, International Cocoa Diplomacy, Dokun Gureje, and representatives of Lagos and Osun State Governors, amongst others.

News

Edo NLC Crisis: Caretaker Committee Drags Rival Exco, Govt To Court

Published

35 minutes ago

May 6, 2026

Editor

The division in the Edo State Council of the Nigeria Labour Congress (NLC), took a new dimension on Wednesday as Prof. Monday Monday Lewis Igbafen-led caretaker committee approached the National Industrial Court of Nigeria, Benin Judicial Division, seeking to affirm its authority and restrain a rival executive from parading itself as the council’s leadership.

Joined in the suit are the Edo State Government, the Commissioner for Labour and Productivity, and the Attorney-General and Commissioner for Justice.

In a suit marked: NICN/BEN/12/2026, and filed before the court in Benin, the claimant, Igbafen, acting for himself and on behalf of the NLC Caretaker Committee in Edo State, is challenging the continued occupation of the union’s secretariat and control of its assets by members of the Bernard Egwakhide-led factional State Executive Council.

The claimants are asking the court to declare that the caretaker committee (Igbafen-led faction), constituted on August 11, 2025, by the NLC national leadership, remains the only lawful authority to administer the affairs of the Edo State Council pending fresh elections.

They further seek a declaration that the continued occupation of the NLC secretariat located at No. 1 Teboga Road, Benin City, as well as the retention of union assets, financial records, and official instruments by the defendants, is illegal and void.

The suit also prays for an order of perpetual injunction restraining the defendants from parading themselves as officials of the NLC Edo Council or interfering with the functions of the caretaker committee.

In addition, the claimants are seeking a mandatory order compelling the defendants to immediately hand over the secretariat, vehicles, financial documents, cheque books, and all other properties belonging to the union.

The caretaker committee further urged the court to restrain the state government and its officials from interfering in the internal affairs of the union, alleging undue support for the dissolved executive.

The claimants further demand N50 million as general and exemplary damages against the defendants for alleged unlawful usurpation of office and acts prejudicial to the administration of the council.

According to court documents made available to our correspondent, the crisis followed the dissolution of the Edo State Council by the NLC National Executive Council on February 27, 2025, over allegations of misconduct, anti-union activities, and constitutional violations.

However, the matter has yet to be assigned a hearing date.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

6 hours ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

7 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.