Business A.M
No Result
View All Result
Saturday, October 17, 2026
  • Login
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • ONLINE & DIGITAL CONTENT PACKAGE
Subscribe
Business A.M
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • ONLINE & DIGITAL CONTENT PACKAGE
No Result
View All Result
Business A.M
No Result
View All Result
Home Frontpage

Nigeria’s transport minister flaunts experience in presidential bid

by Admin
January 21, 2026
in Frontpage, National: Governance, Policy & Politics

BY MIKE OCHONMA

Chibuike Rotimi Amaechi, a presidential aspirant and current minister of transportation, who is seeking the ticket of the ruling political party, All Progressives Congress, has said that if elected as the party’s flag bearer and he eventually wins in the general elections, he would bring his wealth of experience to bear in securing and advancing the nation’s economy.

Amaechi explained that having been in public office for over two decades, he possessed the requisite knowledge and technical know-how to tackle insecurity, and provide better governance for Nigerians.

He stated this when he paid a courtesy visit to Governor Aminu Bello Masari of Katsina State at the government house on Monday.

Amaechi, while also recounting his achievements as Rivers State governor, said he was able to tackle insecurity, champion development and stabilise the state’s economy, assuring that such feat would be replicated if he is elected for the country’s topmost job.

He said, “Your Excellency, you are the first Governor I’m visiting after declaring to run for the President of Nigeria in 2023.I will visit others as I progress with my consultations. I have visited three to four Emirates, two in the area you superintend over, and two in Kano. I have come to also brief you on how far we’ve gone with the railway assignment given to us by Mr. President. And the third reason is to tell you that I am interested in running for the office of the President of Nigeria.”

Amaechi said he thinks he is qualified, adding that he is the only candidate in the race who governed a state where there was militancy. “So I have experience of how to manage militancy. Between six months and one year of occupying the office of governor of the state, the militancy reduced tremendously.

“Schools were opened, market women were able to go back to the markets, kidnapping reduced drastically and business returned. Foreign companies came back, Shell reopened, in fact by the time I was leaving, Total was trying to transfer their headquarters to Port Harcourt.

“Unfortunately when I left, they couldn’t manage it, so Total moved back to Abuja. But LNG returned their headquarters to Port Harcourt during my tenure as governor, Shell relocated their headquarters to Port Harcourt.

“So we have experience, for somebody who has been in office for eight years as governor, eight years as speaker, seven years as minister, I chaired the governor’s forum, I chaired the speakers forum, I also was the DG of the campaign of President Buhari twice. I would bring that experience to bear if given the opportunity.

“For me, the governors are critical in getting that opportunity and there’s a need to talk to your colleagues to assist us to achieve that objective,” Amaechi said.

Responding, Governor Masari said he had no doubt about the minister’s leadership qualities. He also used the occasion to wish him well in his political aspirations.

“To me, you are not a person that needs any introduction. We have come a long way. I have no doubt in your character and in your ability and in your inclusiveness. We have discussed this privately, now you have come to formally declare your intention to contest for the office of the president of your country, which I feel you are qualified, and I hope you will play politics like a modern politician, because the way our politics is been played for quite some time, there is need for change of attitude, change of approach, change of style, so that we should treat the current situation of today with today’s solutions, not today’s problem with yesterday’s solutions.

“Like you know, I wish you well. You were there for me when I needed support and I appreciate and recognize that. You have a good chance. The experience, you have it, the service years, you have it and the rest we leave it to God because he is the ultimate decider. I wish you well,” the Governor said.

As part of his political consultations in the north west, the minister also visited the Emirs of Daura, Katsina, Bichi and Kano. Those in his entourage include Ali Ndume, Sadiq Yar’Adua and Ayogu Eze. Others are David Lyon and former APC chairmanship contestant, Saliu Mustapha.

Admin
Admin
Previous Post

MTN Nigeria cuts off 19m mobile lines on NIN-SIM link directive

Next Post

PenCom objects to bill seeking 75% lump sum payment to retirees

Next Post

PenCom objects to bill seeking 75% lump sum payment to retirees

  • Trending
  • Comments
  • Latest

How UNESCO got it wrong in Africa

May 30, 2017

CBN to issue N1.5bn loan for youth led agric expansion in Plateau

July 29, 2025
MMA2 enters new commercial era after 20-year concession dispute

MMA2 enters new commercial era after 20-year concession dispute

August 28, 2026
NGX taps tech advancements to drive N4.63tr capital growth in H1

Insurance-fuelled rally pushes NGX to record high

August 8, 2025

6 MLB teams that could use upgrades at the trade deadline

Top NFL Draft picks react to their Madden NFL 16 ratings

Paul Pierce said there was ‘no way’ he could play for Lakers

Arian Foster agrees to buy books for a fan after he asked on Twitter

Methane rules spread across 67% of global production as Nigeria faces compliance test 

Methane rules spread across 67% of global production as Nigeria faces compliance test 

October 17, 2026
Onafriq, a pan-African payments company, is set to discontinue its Baxi agent banking business in Nigeria after five years, citing naira depreciation, rising operating costs and intensifying competition that have weakened the segment’s profitability. The planned shutdown will affect the agent banking operations conducted through Baxi under Onafriq Nigeria Payments Limited. However, the decision does not signal the company’s withdrawal from Nigeria, as it intends to retain its cross-border payments network and card issuing services in the country. In a statement, Onafriq said changes in Nigeria’s operating environment since 2024 had significantly altered the economics of its offline agent banking business, making the existing model unsustainable. The move marks a strategic shift for the company, which entered Nigeria’s agent banking market to expand access to financial services through a network of agents providing transaction services outside traditional bank branches. Onafriq attributed the decision to a combination of macroeconomic pressures and structural changes in the country’s payments industry. According to the company, naira depreciation and inflation have affected transaction volumes, increased operating expenses and undermined the sustainability of its agent banking operations. The growing adoption of instant account-to-account transfers has also changed the mix of transactions handled by agents, while heightened competition among payment service providers has put further pressure on margins. These developments have made it increasingly difficult for the business to remain viable under its existing operating structure, prompting the company to reassess its long-term strategy. Dare Okoudjou, founder and chief executive officer of Onafriq, said the decision to close the business was difficult, particularly given the efforts of employees, agents and business partners who helped build the Baxi network. “We entered Nigeria with conviction and commitment, but did not achieve the outcome we set out for. Closing this business was a difficult decision to arrive at, one that affects colleagues, agents, and business partners across Nigeria who poured their hearts and soul into building out the Baxi network,” Okoudjou said. Despite the closure, he reaffirmed the company’s commitment to the Nigerian market, noting that the group would continue to serve customers through its payments network and card issuing operations. Onafriq entered Nigeria’s agent banking market in 2021 through the acquisition of Baxi, also known as Capricorn Digital Limited. The company said it continued investing in the business through 2023, with efforts focused on expanding and strengthening its agent network. However, a subsequent review of the business’s long-term prospects and financial sustainability led to the decision to wind down the operation. As part of the transition, Onafriq said agents onboarded through the Baxi platform had been moved to another principal bank, a step intended to facilitate continuity for the affected agents. The company has also directed agents to transfer their funds to their preferred principal bank within 30 days, adding that its teams would provide support throughout the transition process. Employees whose roles are linked to the agent banking business will also be consulted and supported during the wind-down, with Onafriq pledging to treat affected workers fairly.

Onafriq winds down Baxi as Nigeria’s agent banking economics worsen

October 17, 2026
LCFE links petroleum trading to capital market in pricing transparency drive

LCFE links petroleum trading to capital market in pricing transparency drive

October 17, 2026
Copper rebounds to $14,480 as US tariff risks cloud price outlook

Copper rebounds to $14,480 as US tariff risks cloud price outlook

October 17, 2026

Popular News

  • How UNESCO got it wrong in Africa

    0 shares
    Share 0 Tweet 0
  • CBN to issue N1.5bn loan for youth led agric expansion in Plateau

    0 shares
    Share 0 Tweet 0
  • MMA2 enters new commercial era after 20-year concession dispute

    0 shares
    Share 0 Tweet 0
  • Insurance-fuelled rally pushes NGX to record high

    0 shares
    Share 0 Tweet 0
  • Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

    0 shares
    Share 0 Tweet 0
Currently Playing

CNN on Nigeria Aviation

CNN on Nigeria Aviation

Business AM TV

Edeme Kelikume Interview With Business AM TV

Business AM TV

Business A M 2021 Mutual Funds Outlook And Award Promo Video

Business AM TV

Recent News

Methane rules spread across 67% of global production as Nigeria faces compliance test 

Methane rules spread across 67% of global production as Nigeria faces compliance test 

October 17, 2026
Onafriq, a pan-African payments company, is set to discontinue its Baxi agent banking business in Nigeria after five years, citing naira depreciation, rising operating costs and intensifying competition that have weakened the segment’s profitability. The planned shutdown will affect the agent banking operations conducted through Baxi under Onafriq Nigeria Payments Limited. However, the decision does not signal the company’s withdrawal from Nigeria, as it intends to retain its cross-border payments network and card issuing services in the country. In a statement, Onafriq said changes in Nigeria’s operating environment since 2024 had significantly altered the economics of its offline agent banking business, making the existing model unsustainable. The move marks a strategic shift for the company, which entered Nigeria’s agent banking market to expand access to financial services through a network of agents providing transaction services outside traditional bank branches. Onafriq attributed the decision to a combination of macroeconomic pressures and structural changes in the country’s payments industry. According to the company, naira depreciation and inflation have affected transaction volumes, increased operating expenses and undermined the sustainability of its agent banking operations. The growing adoption of instant account-to-account transfers has also changed the mix of transactions handled by agents, while heightened competition among payment service providers has put further pressure on margins. These developments have made it increasingly difficult for the business to remain viable under its existing operating structure, prompting the company to reassess its long-term strategy. Dare Okoudjou, founder and chief executive officer of Onafriq, said the decision to close the business was difficult, particularly given the efforts of employees, agents and business partners who helped build the Baxi network. “We entered Nigeria with conviction and commitment, but did not achieve the outcome we set out for. Closing this business was a difficult decision to arrive at, one that affects colleagues, agents, and business partners across Nigeria who poured their hearts and soul into building out the Baxi network,” Okoudjou said. Despite the closure, he reaffirmed the company’s commitment to the Nigerian market, noting that the group would continue to serve customers through its payments network and card issuing operations. Onafriq entered Nigeria’s agent banking market in 2021 through the acquisition of Baxi, also known as Capricorn Digital Limited. The company said it continued investing in the business through 2023, with efforts focused on expanding and strengthening its agent network. However, a subsequent review of the business’s long-term prospects and financial sustainability led to the decision to wind down the operation. As part of the transition, Onafriq said agents onboarded through the Baxi platform had been moved to another principal bank, a step intended to facilitate continuity for the affected agents. The company has also directed agents to transfer their funds to their preferred principal bank within 30 days, adding that its teams would provide support throughout the transition process. Employees whose roles are linked to the agent banking business will also be consulted and supported during the wind-down, with Onafriq pledging to treat affected workers fairly.

Onafriq winds down Baxi as Nigeria’s agent banking economics worsen

October 17, 2026

Categories

  • Frontpage
  • Analyst Insight
  • Business AM TV
  • Comments
  • Commodities
  • Finance
  • Markets
  • Technology
  • The Business Traveller & Hospitality
  • World Business & Economy

Site Navigation

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy
Business A.M

BusinessAMLive (businessamlive.com) is a leading online business news and information platform focused on providing timely, insightful and comprehensive coverage of economic, financial, and business developments in Nigeria, Africa and around the world.

© 2026 Business A.M

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • ONLINE & DIGITAL CONTENT PACKAGE

© 2026 Business A.M