Business
Refund N14.3bn, Senate Orders Minister, NEPZA MD
The Senate has directed the Minister of Industry, Trade and Investment, Okechukwu Enelemah; and the acting Managing Director of Nigeria Export Processing Zones Authority, Terhemba Nongo, to return N14.3bn to the purse of the Federal Government.
It claimed that the money was diverted from the 2017 budget of NEPZA.
The directive was contained in a letter written by the Chairman of Senate Committee on Trade and Investment, Mohammed Sabo.
Sabo, a member of the ruling All Progressives Congress representing Jigawa South-West, in the letter warned the minister and the NEPZA boss to either refund the money immediately or be prepared to face dire consequences.
The senator, while addressing journalists on Monday in Abuja, alleged that the money was transferred from NEPZA’s account into the account of a private company, the Nigerian Special Economic Zone Company.
He said the money was hurriedly transferred between April 8 and 10, despite an earlier warning not to do so.
Sabo claimed that the money was first lodged in NEPZA’s account domiciled with the Central Bank of Nigeria from 2017 budget allocations.
He said the money was thereafter moved into the private firm’s account.
The senator said, “To prevent this fraud, my committee wrote a letter to the CBN Governor, Godwin Emefiele, on April 8, asking him not to release the money.
“But we have confirmed that the money has been released and transfered by NEPZA, in collaboration with the minister, into a private company’s account.
“This is unacceptable to us. Hence, we have directed that money be returned.”
Copies of the Senate committee’s letter, addressed to the minister, were made available to journalists.
The letter dated April 25 was tilted “Re: Transfer of N14.3bn from NEPZA Account to Nigeria Special Economic Zone Company.”
It read, “Pursuant to Section 80(2)(3) and (4) of the Constitution of the Federal Republic of Nigeria 1999 as amended and Financial Regulation, sections 313 and 314 and Senate Standing Order 98, 14(a-s) of 2015 as amended, we hereby write to you on the above matter.
“That you should return the N14.3bn that was transferred from NEPZA’s account to the Nigeria Special Economic Zone Company’s account.
“That the transferred money must be returned to the treasury within one week from the date of receipt of this letter.
“The available information shows that the said money is in the account of the Nigerian Special Economic Zone Company unappropriated for.
“That failure to comply with this directive will be visited with appropriate legislative action against your ministry as well as the company.”
The Punch
One month after launching Season 5 of its flagship 5 for 5 Rewards campaign, Wema Bank has rewarded 273 customers with a total of ₦17.96 million, demonstrating the strong early impact of its refreshed customer rewards platform and reinforcing its commitment to rewarding everyday banking.
Launched on May 2, 2026, as part of the Bank’s 81st anniversary celebration, this season of the campaign introduced a more structured and inclusive rewards framework designed to encourage positive financial habits while recognising customer loyalty across the Youth, Women and Mass Market segments.
The season opened with a special anniversary activation at Ikeja City Mall, where 81 customers received ₦81,000 each, resulting in ₦6.56 million in rewards on launch day. Since then, the campaign has continued to reward customers through daily and monthly draws, with an additional 192 winners emerging within the first month.
Across the Youth segment, 37 students have received rewards worth ₦4.4 million, including 20 students who received ₦50,000 PocketMoni rewards and 17 university students who received ₦200,000 each in Tuition Support.
The Women segment also recorded strong participation, with 12 customers receiving ₦150,000 each through the #SelfCare category, while the Mass Market segment recorded the highest number of winners. Within the first month, 120 customers received daily cash rewards, and 23 customers won ₦200,000 each in the monthly draw, bringing total rewards in the category to ₦5.2 million.
Commenting on the campaign’s early impact, Wema Bank’s Managing Director and Chief Executive Officer, Moruf Oseni, said; “At Wema Bank, we believe loyalty should be rewarded in ways that are meaningful, transparent and accessible. The response to Season 5 of the 5 for 5 Rewards campaign has been encouraging, and seeing hundreds of customers benefit within just one month reinforces our belief that everyday banking should create everyday opportunities.
Beyond rewarding transactions, we are encouraging positive financial habits while delivering real value to our customers. He added; “This is only the beginning. With more reward categories, more winners and more opportunities still ahead, we remain committed to creating meaningful impact for our customers and ensuring more Nigerians experience the value of banking with Wema.”
Customers can participate by opening or reactivating a Wema Bank account, funding it with a minimum of ₦5,000, maintaining an average monthly balance of ₦5,000, and completing at least five transactions every month using the ALAT app, Wema or ALAT cards, or *945#.
With over ₦170 million earmarked for rewards between May and December 2026, thousands more customers are expected to benefit as the campaign continues, reaffirming Wema Bank’s commitment to rewarding loyalty, promoting positive financial behaviour and delivering value beyond banking.
In commemoration of World Environment Day 2026, the UBA Foundation, the Corporate Social Responsibility arm of United Bank for Africa (UBA) Group, has reinforced its commitment to environmental sustainability through a tree-planting exercise at two of Lagos’ most historic educational institutions – King’s College, Lagos, and CMS Grammar School, Bariga.
The exercise marks the commencement of the Foundation’s 2026 Tree Planting for Sustainability Initiative, which is being implemented across selected schools in Nigeria to promote environmental consciousness among young people and encourage climate-positive action.
Observed annually on June 5 and coordinated by the United Nations, World Environment Day is the world’s leading platform for environmental awareness and advocacy. The 2026 theme, “Inspired by Nature. For Climate. For Our Future,” underscores the urgent need for collective action to address climate change and environmental degradation.
Speaking during the exercise at CMS Grammar School, Managing Director/CEO, UBA Foundation, Bola Atta, described the initiative as a strategic investment in the future.
“We want young people to understand that the environment needs our collective support and protection. Through initiatives like this, we are encouraging the next generation to embrace sustainable practices that will help create healthier communities and a better future for all,” she said.
Now in its fourth year, the Tree Planting for Sustainability Initiative is designed to instill environmental responsibility in students by integrating sustainability practices into school communities and empowering young people to become environmental ambassadors.
Atta explained that the choice of King’s College and CMS Grammar School was deliberate, reflecting both institutions’ rich heritage and their capacity to sustain the initiative over time.
“These are iconic institutions with deep historical significance. CMS Grammar School is Nigeria’s oldest secondary school, while King’s College has been shaping leaders for more than a century. We wanted schools where these trees will be nurtured and allowed to flourish for generations to come,” she noted.
The initiative comes at a time when rapid urbanisation has continued to reduce green spaces across many Nigerian cities, highlighting the need for sustained environmental restoration efforts.
“Over the years, development has often taken precedence over environmental preservation, leading to the loss of many trees and green areas. However, there is no better time than now to begin restoring our environment and making a lasting impact,” Atta added.
The exercise forms part of UBA Group’s broader commitment to Environmental, Social and Governance (ESG) principles.
Speaking at the event, UBA’s Group Chief Risk Officer, Awele Ajibola, emphasized the importance of proactive environmental stewardship in addressing climate-related risks.
“At UBA, initiatives like this demonstrate our commitment to the environment and the communities we serve. Climate change presents real and growing risks, and as a responsible financial institution, we recognise our role in driving positive environmental action and sustainable development,” Ajibola stated.
The tree-planting exercise is one of several activities being implemented by the Group to commemorate #WED2026. Other activities include UBA’s inauguration as a member of the Finance Taskforce for Plastic Action in Nigeria, Green Talk sessions with customers across branches, the launch of Sustainability Clubs in participating schools, environmental awareness campaigns across the Bank’s communication platforms, and a month-long Green Challenge designed to encourage environmentally responsible behaviour.
Commending the initiative, Principal of CMS Grammar School, Revd. Jacob Ayokunle Ogunyinka, described the exercise as a practical extension of environmental education.
“Our students learn about the importance of trees and environmental conservation in the classroom. Seeing these principles demonstrated in practice deepens their understanding and inspires greater responsibility towards protecting the environment,” he said.
Similarly, Principal of King’s College, Magaji Zachariah, expressed appreciation to UBA Foundation for selecting the institution as one of the beneficiaries of the programme and for investing in environmental education.
Beyond planting trees, the Foundation engaged students in discussions on environmental stewardship, encouraging responsible practices such as proper waste disposal, water conservation, recycling, and energy efficiency.
Referencing the famous words of Nobel Laureate and environmentalist Wangari Maathai, Atta reminded participants of the importance of immediate action: “The best time to plant a tree was twenty years ago. The second-best time is now.”
UBA Foundation is the Corporate Social Responsibility arm of United Bank for Africa (UBA) Group. The Foundation is committed to the socio-economic development of communities across Africa through strategic interventions focused on education, environmental sustainability, economic empowerment, and special projects.
Determine to enrich the digital experience of its subscribers, Globacom has introduced a new data offer, tagged “More Data More Value only on Glo”. The new offer gives customers as much as 10 percent more data across its bundles as the Nigerian telecom landscape shifts toward a data-led economy.
Globacom explained in a statement that “The new offer is designed to ensure that every Naira spent by a Nigerian consumer yields the highest possible digital return”, thus reinforcing the company’s long-standing reputation for affordability and empowerment.
“More Data More Value” offers a variety of weekly and monthly options planned to balance daytime and night-time usage. The weekly plan includes ₦1,000 option which provides 3.7GB of total data, consisting of 1.7GB main data and 2GB night data, while that of ₦2,000 offers 9GB in total, divided into 6.5GB main data and 2.5GB night data.
The monthly plan also comes with different options including that of ₦1,500 which delivers a total of 5.2GB (2.2GB main data paired with 3GB night data); the ₦2,000 option offering 6.25GB data, a combination of 3.25GB main data and 3GB night data and16.5GB, comprising 14.5GB main data and 2GB night data which goes for N5,000. There is also the ₦10,000 and N15,000 options, with N10,000 providing 42GB total, 38GB main data and 4GB night data, while ₦15,000 offers 64GB in total, consisting of 62GB main data and 2GB night data.
Glo’s enhanced bundles provide the necessary incentive for students, remote workers, and entrepreneurs to browse longer, whether for TikTok trends, Instagram aesthetics, YouTube streaming, or high-stakes gaming and stream without fear, ensuring their professional and social lives remain uninterrupted.
These improved bundles from Globacom give entrepreneurs, remote workers, and students the incentive they need to browse longer, whether for high-stakes gaming, YouTube streaming, Instagram aesthetics, or TikTok trends, and stream on end, while ensuring seamlessness in their social and professional lives.
Beyond individual users, the “More Data More Value” offer also extend its benefits to families and SMEs. With the reliance of small businesses and households on mobile hotspots for their daily operations, Glo has optimized its offerings to serve as the preferred network for high-volume usage.
The offer also serves as a driver of digital transformation through the Glo Café app. Customers are encouraged to utilize the app for seamless bundle subscriptions, as it allows them to manage their “more than 10% extra” data with ease, thus ensuring rewarding user experience.
“More Data More Value” offer underscores Glo’s commitment to providing the best value-for-money which gives Nigerians the benefit of not compromising on their digital lifestyle.
