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Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million

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BY NKECHI NAECHE-ESEZOBOR—Mutual Benefits Assurance Plc has disclosed an insider transaction involving one of its directors, Dr. Akinade Ogunbiyi, who sold more than 1.5 million shares in the insurance company in a deal valued at over ₦6.3 million.

The disclosure, signed by Jide Ibitayo, Company Secretary, filed with the Nigerian Exchange (NGX) and the investing public, showed that Ogunbiyi, a Non-Executive Director of the company, disposed of 1,507,309 ordinary shares of Mutual Benefits Assurance Plc between June 3 and June 9, 2026.

According to the notification, the shares were sold at prices ranging from ₦4.20 to ₦4.33 per share, placing the total value of the transaction at between ₦6.33 million and ₦6.53 million.

The transaction was reported as an initial notification of insider dealing in line with regulatory requirements that mandate directors and other insiders of listed companies to disclose transactions involving the securities of their companies.

Mutual Benefits Assurance identified the financial instrument involved in the transaction as its ordinary shares, traded on the Nigerian Exchange under the ticker symbol “MBENEFIT.”
Insider dealing notifications are a key component of market transparency and corporate governance, providing investors with information on share transactions undertaken by directors, executives, and other individuals with access to potentially price-sensitive information.

While insider transactions often attract investor attention, market analysts note that such dealings do not necessarily indicate changes in a company’s outlook, as they may be influenced by personal investment decisions, portfolio rebalancing, or other financial considerations.

The disclosed transaction took place in Lagos, Nigeria, and was executed over a seven-day period between June 3 and June 9, 2026.

Mutual Benefits Assurance Plc remains one of the companies listed on the Nigerian Exchange that regularly complies with insider dealing disclosure requirements, reinforcing transparency in the capital market.

The post Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million appeared first on Business Today NG.

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CBD COP17: Nigeria, France Push for Faster Action on 30×30 Biodiversity Target

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Nigeria and France have called for stronger political leadership, increased financing and concrete commitments to accelerate the implementation of the global target to protect 30 per cent of the world’s land and seas by 2030.

The two countries made the call during a Target 3 Action Day at the ongoing 17th Conference of the Parties to the United Nations Convention on Biological Diversity (CBD COP17) in Yerevan, Armenia.

As co-chairs of the High Ambition Coalition (HAC) for Nature and People, the countries stressed the need to sustain political commitment and translate global biodiversity pledges into measurable conservation outcomes.

HAC is the largest multilateral coalition united to protect nature. With 123 member countries, the coalition is leading the historic effort to conserve and protect at least 30 per cent of the world’s land and 30 per cent of the ocean by the year 2030 (“30×30”).

This ambitious plan is a key target of the Kunming-Montreal Global Biodiversity Framework. Established in 2023, the permanent HAC for N&P Secretariat has made significant progress in supporting its members to implement this global target, aiming to halt and reverse biodiversity loss and put nature on a path to recovery.

Charles Nicolai, who spoke on behalf of the coalition, said political leadership must continue beyond adopting the target at CBD COP15 in Montreal, Canada.

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“Political leadership did not end in Montreal, when Target 3 was adopted at CBD COP15. It must endure until the target has been collectively achieved,” he said.

Mr Nicolai warned that weak political commitment could slow implementation, adding that only four years remained to achieve the 2030 target.

“Where leadership falters, implementation slows. With only four years remaining until 2030, we cannot afford to lose momentum,” he said, expressing confidence that the 30×30 target remained achievable.

The 30×30 target is a central component of the Kunming-Montreal Global Biodiversity Framework adopted in 2022. It calls on countries to ensure that by 2030, at least 30 per cent of terrestrial, inland water, coastal and marine areas are effectively conserved and managed.

Nigeria, France outline progress

Mr Nicolai said France had used its presidency of the Group of Seven (G7) this year to advance the effective management of marine protected areas.

He said G7 environment ministers agreed to make the issue a collective priority and established a dedicated platform to exchange knowledge and best practices to improve the management of protected marine areas.

In West Africa, he said, Nigeria had played a leading role in advocating for the 30×30 target, using its diplomatic influence to promote a coordinated approach to expanding and strengthening protected areas on land and at sea.

He added that the coalition had organised six regional and global consultations, with support from its secretariat, to identify measures needed to strengthen implementation.

The consultations, held through platforms including ChangeNOW, the Our Ocean Conference, and meetings of the Convention’s scientific subsidiary body, helped develop a 30×30 Ministerial Declaration.

According to Mr Nicolai, the declaration was designed to renew political leadership and encourage coalition members to make more ambitious commitments.

The coalition also presented the declaration and a 30×30 Global Assessment at a Nature Leaders event at the United Nations headquarters, attended by heads of state and ministers from several countries.

Nigeria highlights six principles

In her remarks, Sikeade Egbuwalo, Nigeria’s focal point person to the Convention on Biological Diversity, said achieving the target would require coordinated action across governments, communities, businesses and civil society.

She described the 30×30 ambition as more than a slogan, saying it represented a commitment to nature, people and future generations.

Ms Egbuwalo outlined six guiding principles underpinning the ministerial declaration:g collective responsibility, transparency, effective management, community participation, local implementation and adequate financing.

She said governments must demonstrate progress through transparent reporting, including submissions to the World Database on Protected and Conserved Areas and national reports to the CBD.

She also warned against treating the target as a numerical exercise, stressing that protected areas must be effectively managed, ecologically connected, representative and well governed.

“Quality matters just as much as quantity! It is not enough to draw lines on a map and declare victory,” she said.

Ms Egbuwalo further emphasised the need to ensure that Indigenous Peoples and local communities had meaningful roles in conservation decisions, noting their longstanding contributions to protecting nature.

She called for stronger national implementation and regional cooperation, including progress toward ratifying and implementing the Agreement on the Conservation and Sustainable Use of Marine Biological Diversity of Areas Beyond National Jurisdiction, known as the BBNJ Agreement.

READ ALSO: ANALYSIS: CBD COP17: Russia, Africa disagree as delegates adopt 14 decisions

Funding remains critical

Mrs Egbuwalo identified financing as a major requirement for achieving the 2030 target, particularly in developing countries.

“Ambition is wonderful, but ambition without resources will not get us very far,” she said, calling for adequate, accessible and timely funding to translate commitments into conservation outcomes.

She urged governments, development partners, businesses, civil society organisations and other stakeholders to sustain the momentum generated at COP17 beyond the conference.

Mrs Egbuwalo also announced that the coalition would work towards organising its first 30×30 Global Summit in 2027, providing another platform to assess progress and share successful conservation initiatives.

She said the initiative would bring together governments, non-governmental organisations, funders, Indigenous Peoples and local communities, businesses,s and other partners.

“30×30 is not a competition over who protects the most. It is a collective mission to ensure that nature wins — and when nature wins, humanity wins!”


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REA Ends 16 Years of Darkness in Two Kano Communities

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BY GABRIEL MICHEAL—The Rural Electrification Agency (REA) has again advanced its goal of deepening electricity access across the country with the commissioning of two mini-grid projects in Kano State after over sixteen years of darkness.

The agency commissioned two projects comprising a 195kWp system in Ballagaza and a 70kWp system in Marayar Rogo, located in Warawa, which will serve 2,222 households ending over sixteen years of darkness.

Speaking at the ceremony, the Managing Director of REA,  Abba Aliyu, described the project as another step toward achieving the Renewed Hope Agenda’s goal of electrifying over 17 million Nigerians.

He described the project as a strong example of what public-private partnerships can achieve.

He also thanked the Kano State Governor, Abba Kabir Yusuf for identifying electricity as a key deliverable of his administration and for providing a conducive environment for the execution of the project.

“The Federal Government did not build these mini-grids and hand them over. Alfuttaim Nigeria Limited invested its own money, built them, and will own and operate them for many years. What the government did, through the DARES programme delivered by the REA with support from the World Bank, was to subsidize part of the cost to ensure the electricity is affordable for you.”

“Under DARES, Nigeria is working toward 1,350 mini-grids, and the programme has already brought new or improved electricity to more than five million Nigerians. Our country still has more people without electricity than any other nation in the world. That challenge will not be solved by a single agency or programme; it will be solved community by community, in places like Ballagaza and Marayar Rogo, when private companies are willing to invest and communities take ownership of what is built for them. The government’s job is to keep its word to both,” he said.

The Gabazawa community which is known for groundnuts, millet, sorghum, and soya, as well as its blacksmiths, weavers, and dyers, will experience advanced production, allowing groundnuts to be pressed into oil and kuli-kuli using electric machines and sold at a better price.

The mini-grid project will also serve the primary healthcare centre in the Gabazawa community, which has previously been without power.

In her remarks at the event, the Co-founder of Alfuttaim, Dr. Nabilah Sani, expressed delight at the completion of the project, noting that it will not only power homes but also boost agricultural productivity.

She thanked the Federal Government for facilitating the funding that brought the project to fruition while noting that these are just two of ten sites currently under development in Kano.

She further urged residents of the community to protect the infrastructure as their own and shun vandalism.

The post REA Ends 16 Years of Darkness in Two Kano Communities appeared first on Business Today NG.

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