Business

May & Baker disowns ‘fraudulent M&B Equity Stake’ investment scheme

Published

2 months ago

August 18, 2026

May & Baker Nigeria Plc has dissociated itself from the ‘M&B Equity Stake’ investment scheme, noting that the purported investment opportunity is fraudulent and unauthorised by the company.

The company disclosed this in a regulatory filing signed by Adetoun Abiru, Secretary of Marina Nominees Limited, on Tuesday, urging the investing public to disregard promotional materials that promise daily or guaranteed returns for the equity stake.

This followed the circulation of “fraudulent materials” through social media, messaging applications and other online platforms, purporting to offer an investment opportunity described as an “M&B Equity Stake.”

“The company hereby unequivocally dissociates itself, its subsidiaries and affiliates from the purported ‘M&B Equity Stake’ investment scheme and any person, platform, website, group, publication or other communication promoting or soliciting funds in connection with the scheme,” May & Baker said.

The consumer foods manufacturer stated that any person, platform, flier, message, website or other communication soliciting funds under the guise of May & Baker Nigeria Plc is unauthorised and was not issued by or on behalf of the company.

It advised Nigerians to disregard the communications, refrain from making any payment or disclosing personal information in response to the ‘M&B Equity Stake’ investment materials.

“Report any such fraudulent activity to the appropriate authorities,” the pharmaceutical and beverage company said, urging the investing public not to disclose their financial information to anyone.

The company confirmed that it is not currently undertaking any Rights Issue, Public Offer or other capital-raising exercise involving the solicitation of investments from the public.

ALSO READ: May & Baker posts 215% profit growth in mid 2017 result

“Any future capital-raising exercise will be formally communicated through the Company’s authorised communication channels and conducted in accordance with applicable laws, regulations and the requirements of the Nigerian Exchange Limited and other relevant regulatory authorities,” the company added.

It further urged its shareholders, customers, employees and members of the general public to remain vigilant and verify any purported investment opportunity or communication relating to the company through its official communication channels before taking any action.

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Business

Insurance Sector Holds Biggest Untapped Opportunities in Nigeria’s Economy — Akinwunmi

Published

47 minutes ago

October 26, 2026

PlateauReports

*Insurance Sector Has Biggest Untapped Opportunities In Nigeria’s Economy, Says Akinwunmi*

Investment expert and Chief Economist, United Capital Plc, Mr Ayodele Akinwunmi, has said that Nigerian Insurance sector has one of the biggest untapped opportunities among other sectors of the economy.

Akinwunmi, who stated this while presenting a key note address on Post – Recapitalisation and Market Dynamics in Insurance and Pension Sectors at the Annual National Conference of the Nigerian Association of Insurance and Pension Editors (NAIPE), noted that, the winning insurers in Nigeria’s next decade would be those who deploy capital into underwriting excellence, inclusive products, digital infrastructure and productive long-term investment, not those who simply hold the largest balance.

He noted that, at 0.4 percent to 0.5 percent of GDP, Nigeria’s insurance penetration was one of the lowest in the world and that made it one of the biggest untapped opportunities.

He said, a post -recapitalisation transmission mechanism in Nigeria’s insurance industry would witness stronger insurers, deeper markets and a more resilient Nigeria.

According to Akinwunmi, with recapitalisation, there will be stronger capital and risk- based solvency which would give rise to higher minimum capital and stronger balance sheets, compliance with risk- based capital requirements as well as greater resilience to shocks.

He also said, with the new capital,Nigerian underwriters would have the ability to underwrite larger and more complex risks, retain greater portion of domestic risks, they would reduce reliance on foreign reinsurers as well as provide support for key sectors such as energy, infrastructure, SMEs, retail and agriculture.

He further noted that, with the new capital, the industry would witness the use of digital platforms and wider distributors, data driven pricing and underwriting , introduction of innovative products for micro, retail , parametric , Takaful and other specialised Products .

He further said, in the face of the new capital, the operators’ services would be automated and straight- through claims processing as well as improved customer experience and operational efficiency.

The post Insurance Sector Holds Biggest Untapped Opportunities in Nigeria’s Economy — Akinwunmi appeared first on Business Today NG.

Business

CBD COP17: Namibian Biosafety Expert Martha Kandawa-Schulz dies in Yerevan

Published

9 hours ago

October 26, 2026

PlateauReports

Martha Kandawa Schulz Namibia SBSTTA28 31july2026 photo.jpg

Martha Kandawa-Schulz, Namibia’s Cartagena Protocol National Focal Point, died in Yerevan, Armenia, while participating in the ongoing United Nations Biodiversity Conference (CBD COP17).

Ms Kandawa-Schulz, a professor, died on 23 October, according to a statement the Convention on Biological Diversity (CBD) Secretariat issued Sunday evening.

She was serving as Co-Chair of the Contact Group on Risk Assessment and Risk Management of Living Modified Organisms at the conference.

In a message to delegates, the Secretariat described her as a highly respected colleague whose dedication, expertise, and leadership contributed significantly to the Convention and its Protocols, as well as to the global biosafety community.

It said her commitment and collegiality had earned her the respect and appreciation of colleagues who had the privilege of working with her.

The Secretariat extended its condolences to her family, friends, colleagues, and the Government and people of Namibia.

It also expressed sympathy to the African Group and others mourning her death.

“The Presidency and the Secretariat are working closely together to support her family and the Namibian delegation on site, and to facilitate the necessary arrangements,” the statement said.

The Secretariat also announced that a book of condolences would be available to delegates from 13:00 on Monday at Entrance 2, near the Asia-Pacific Room, for those wishing to pay their respects.

It urged delegates to honour Ms Kandawa-Schulz’s memory and recognise her contributions to the shared objectives of the Convention.

ALSO READ: CBD COP17: Nigeria, six others each win $50,000 grant for biodiversity projects

The circumstances surrounding her death were not stated, although reports indicate that she collapsed during her engagement in the working group meeting on Friday.

CBD COP17 is taking place in Yerevan, Armenia, bringing together governments and other stakeholders to deliberate on global biodiversity conservation and the implementation of the Convention and its associated protocols.

Government representatives, delegates, scientists, civil society representatives and researchers, among others, from nearly 196 countries are participating in the conference.