Business
Cornerstone Insurance Plc Foundation Donates Solar-Powered Borehole to NDLEA
Cornerstone Insurance Plc Foundation (CIPLCF), has donated a solar-powered borehole to the National Drug Law Enforcement Agency (NDLEA) in Abuja, reaffirming its commitment to providing access to clean sustainable water.
The project, commissioned recently, reflects Cornerstone’s vision of protecting lives and property by promoting health, and sustainability. It also aligns with the United Nations Sustainable Development Goals (SDGs), particularly SDG 6 – Clean Water and Sanitation and SDG 13 –Climate Action.
Speaking at the handover ceremony, the Head of Marketing and Corporate Communications Cornerstone Insurance Plc, Cordelia Ekeocha, who represented the MD/CEO Stephen Alangbo. said the initiative emphasises its commitment to supporting communities and promoting sustainability. We believe that all our initiatives should have a lasting impact in the lives of the recipients.
The CIPLCF is committed to promoting community support, education, and health & safety, hence this borehole project is significant.
Receiving the project on behalf of the NDLEA Chairman, Brigadier-General Mohammed Buba Marwa (Rtd), the Director of Technical Services, DCG Ambrose Umoru, commended the Foundation for the donation, noting that the borehole would provide reliable access to clean water for the agency.
The post Cornerstone Insurance Plc Foundation Donates Solar-Powered Borehole to NDLEA appeared first on Business Today NG.
BY NKECHI NAECHE-ESEZOBOR—More than 700 employees of AXA Mansard have participated in a nationwide awareness campaign aimed at combating child abuse and gender-based violence, reinforcing the company’s commitment to protecting vulnerable members of society.
The initiative, held across Lagos, Abuja and Port Harcourt, formed part of the 2026 AXA Week for Good, the company’s global employee volunteering programme under AXA Hearts in Action, which encourages staff to support social causes through community service.
This year’s campaign, themed “Being a Child Shouldn’t Be a Risk,” focused on raising awareness about the prevention, identification and reporting of domestic and sexual violence affecting children and women.
As part of the outreach, employee volunteers carried out door-to-door sensitisation, community engagement and educational activities designed to help residents recognise signs of abuse, encourage reporting and promote collective responsibility for protecting vulnerable groups.
Chief Executive Officer of AXA Mansard Health, Tope Adeniyi, said the campaign reflects the company’s belief that businesses have a responsibility to contribute to safer and more inclusive communities beyond providing insurance services.
According to him, the large turnout of employees demonstrates AXA Mansard’s culture of compassion and commitment to making a meaningful social impact, particularly in addressing issues that affect children and families.
Chief Marketing Officer of AXA Mansard, Adebola Surakat, said the initiative aligns with the company’s broader mission of promoting safety, dignity and wellbeing, adding that sustained advocacy is essential to tackling abuse and violence in society.
The week-long programme concluded with a commemorative walk across participating cities, while the company reaffirmed its commitment to supporting initiatives that address critical social challenges and create lasting value for communities across Nigeria.
The post Over 700 AXA Mansard Volunteers Join Fight Against Child Abuse appeared first on Business Today NG.
Business
Oyedele confirms Nigeria has drawn first $1.5 billion under $5 billion Abu Dhabi financing deal
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has confirmed that Nigeria has accessed the first $1.5 billion from its $5 billion financing arrangement with First Abu Dhabi Bank (FAB).
Mr Oyedele disclosed this while speaking to journalists after the Federal Executive Council (FEC) meeting in Abuja on Monday.
He said the financing facility, which had earlier received approval from the National Assembly, is intended to refinance expensive debt, fund infrastructure projects and support budget implementation.
“The approval for that loan went to the National Assembly, so everybody is aware of it. It’s for refinancing of expensive debts, financing of infrastructure, as well as budgets,” he said.
He added that, “So, we don’t want to start making press releases each time we do a drawdown. It is not different from any other loan.”
The minister’s comments provide the first official confirmation that the government has begun drawing on the financing package.
Last week, Bloomberg reported that Nigeria had accessed about $1.5 billion through a Total Return Swap with First Abu Dhabi Bank, marking the first utilisation of the broader $5 billion facility.
Mr Oyedele said the government deliberately structured the financing arrangement to allow funds to be accessed in tranches rather than all at once.
READ ALSO: FEC approves N215bn for CNG buses, $900 million agriculture financing – Minister
According to him, the approach is intended to reduce borrowing costs by ensuring Nigeria only pays interest on funds that have been drawn.
“The loan is meant to be a drawdown in tranches, and one of the advantages of that is, if you need $5 billion and you take everything at once, you start paying interest, even though you’re not spending all of it now. So, this has been structured in a way that makes us even more efficient in the cost of borrowing by taking what we need part time,” he explained.
Mr Oyedele said the phased approach forms part of the government’s broader debt management strategy aimed at lowering financing costs while meeting critical funding needs.
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