Coach Attah

28/08/2026

The SEC just dropped its wider crypto regulatory framework. And the numbers are significant.

Under the proposed Rules on Digital and Virtual Asset Operations, Custody and Markets, here's what operators would pay:

1. Registration fees:

Digital Asset Exchanges (DAXs), Custodians, Platform Operators, Offering Platforms, and Real World Asset Tokenisation Platforms:

N30 million each.

2. Capital requirements:

DAXs and Digital Asset Custodians:

N2 billion each.

3. Digital Asset Platform Operators, Offering Platforms, and Tokenisation Platforms:

N500 million each.

4. Other Virtual Asset Service Providers:

N200 million.

What this tells us.

First, the SEC is serious about regulating crypto. These are not token requirements. N2 billion minimum capital for exchanges is significant.

Second, this framework is designed to separate serious operators from casual players. The capital requirements will push out undercapitalised platforms.

Third, the fees are high. N30 million registration fee plus substantial capital requirements. This is a regulatory regime that expects scale.

What this means for you.

If you're a crypto platform operator, prepare for higher costs. You'll need significant capital to operate legally.

If you're an investor, this adds a layer of protection. Regulated platforms with minimum capital are safer than unregulated ones.

My take.

Nigeria is moving from the Wild West to a regulated market. The SEC is setting standards that align with global best practices.

The question is whether the fees and capital requirements are calibrated appropriately. Too high, and you stifle innovation. Too low, and you don't achieve the prudential goals.

Are you watching Nigeria's crypto regulatory evolution?

27/08/2026

The Federal Government, through NITDA, is developing a National Innovation Hub Standards Framework. The goal: common standards for innovation hubs across Nigeria.

NITDA Nigeria Director General, Kashifu Inuwa, announced this at a validation workshop in Abuja. The framework will help innovation hubs assess their capabilities, identify gaps, and improve their maturity level.

Why this matters.

NITDA has identified more than 339 innovation hubs across Nigeria. But a significant proportion are concentrated in Lagos, Abuja, and about 10 other states. The rest of the country is underserved.

The framework is designed to decentralise Nigeria's innovation ecosystem. Not just Lagos. Not just Abuja. Every state.

What this tells us.

First, innovation hubs are critical infrastructure for startups and entrepreneurs. They provide space, mentorship, networking, and access to capital.

Second, the government recognises that concentration is a problem. Startups in Lagos and Abuja have advantages that startups in other cities don't. This framework aims to level the playing field.

Third, standards matter. A hub in Kano should meet the same quality benchmarks as a hub in Lagos. That builds trust and attracts investment.

What this means for you.

If you run an innovation hub, this framework will affect you. There will be standards to meet, assessments to undergo, and pathways to improve.

If you're a startup founder outside Lagos or Abuja, this could mean better support infrastructure in your location.

My take.

339 hubs sounds impressive. But the quality and capacity vary widely. Standardisation is a step in the right direction. The challenge will be implementation. A framework is only as good as the resources allocated to support it.

26/08/2026

In one of my posts, I talked about how much the NRS collects daily - N127.83 billion and some people asked: if the government is collecting that much tax, why are they still borrowing?

Fair question. Here are the numbers.

The government borrowed N11.9 trillion between June 2023 and December 2025. But the Minister of Finance, Taiwo Oyedele, says the amount would have been far higher without the reforms.

Here's the breakdown.

- Incremental resources from subsidy savings, independent revenues, and additional borrowing: N20.4 trillion.

- Incremental expenditure by the Federal Government: N30.64 trillion.

Of that, N9.39 trillion went to wage adjustments, minimum wage increases, and allowances for public servants.

So where did the subsidy savings go?

Subsidy savings between June 2023 and December 2025 mobilised N15.8 trillion for the Federation.

- N5.4 trillion went to the Federal Government's share.
- N10.4 trillion was distributed to states and local governments through the Federation Account.

The Federal Government also generated an additional N3.1 trillion in independent revenue from government-owned entities.

But here's the catch.

The CFG Advisory warns that the fiscal gains from subsidy removal have been fully absorbed by debt servicing. The redirection of subsidy savings to debt servicing has effectively neutralised the intended fiscal relief.

So the government is collecting more tax. They're saving from subsidy removal. But they're spending more on debt service. And borrowing N11.9 trillion in two years.

What this means for you.

The tax revenue you see is going into government expenditure: wages, debt servicing, and other obligations. The borrowing is filling the gap between what the government earns and what it spends.

My take.

₦127.83 billion daily tax collection sounds impressive. But when expenditure exceeds revenue by N10 trillion over two years, borrowing is unavoidable.

The question isn't whether the government should borrow. It's whether the borrowing is being used productively to build infrastructure, education, and healthcare that will generate future returns.

Are you watching Nigeria's fiscal numbers? What's your read on this?

25/08/2026

CWG generated N15.5 billion from IT Infrastructure Services in H1 2026; that's a 142.4% jump from N6.4 billion in H1 2025.

CWG Africa is a Pan-African systems solutions company which specializes in a wide array of IT services including communications and integration services, infrastructure services, managed and support services, cloud services, and software.

Their total revenue rose 20.8% to N44.4 billion.

The infrastructure business was the fastest-growing, driven by major contracts across the public sector, telecommunications, and financial services.

Software revenue declined 6.3% to N18.7 billion. Infrastructure stepped up. IT Infrastructure Services now accounts for about 35% of its revenue.

What's happening here?

The infrastructure business covers data centres, network security, storage, disaster recovery, firewall management, security audits, and backup solutions. It's the technology foundation that enables organisations to operate their systems efficiently.

But here's the challenge.

Infrastructure is largely OEM (Original Equipment Manufacturer) hardware reselling, which carries lower margins than software.

Now The Financials

- Cost of sales rose 24.2
- Revenue rose 20.8%.
- Gross margin fell from 22.6% to 20.4%.
- Profit after tax increased only 2.4% to N3.65 billion.

So CWG is making more revenue but at lower margins.

What this tells us.

First, there's strong demand for IT infrastructure in Nigeria. Organisations are investing in data centres, network security, and storage.

Second, CWG's pivot to infrastructure is working in volume terms, even if margins are compressed.

Third, the company's financial position strengthened. Borrowings fell from N4.6 billion to just N6 million. Contract liabilities increased from N2.5 billion to N4.1 billion, which is deferred revenue that will be recognised later.

What this means broadly.

CWG's growth reflects the broader digital transformation of Nigerian enterprises. Organisations are spending more on IT infrastructure.

My take.
N15.5 billion in six months is significant. The demand is real. But the margin story matters. CWG is trading software margins for hardware volume.

The question is whether the scale can compensate for the margin compression.

24/08/2026

24/08/2026

NiRA is moving to cut .ng domain costs and tighten protection for Nigerian brands.

The Nigeria Internet Registration Association (NiRA) is exploring measures to make .ng domains more affordable and accessible to small and medium-sized businesses.

NiRA President, Adesola Akinsanya, says the association is considering discounted bundle packages that combine .com.ng domains with web hosting, one-page websites, and other business tools, giving small businesses basic resources to establish an online presence.

What's being proposed.

SME domain vouchers for businesses accessing digital services through partners like SMEDAN, the Bank of Industry, and state-level SME agencies.

Participating registrars would provide services while NiRA offers wholesale subsidies to reduce costs.

This matters because .ng adoption has been slow despite its benefits. Many developers default to .com. But owning Nigeria's digital identity through .ng is increasingly seen as an act of sovereignty, especially in a digital-first economy.

Tackling domain squatting.

NiRA is also examining measures to address domain squatting, where valuable domains are registered for resale or to block legitimate businesses from securing them.

A proposed Brand or Trademark Notification Service would allow verified trademark owners to register their brands and receive alerts whenever exact, similar, or related names are registered across .ng namespaces.

What this means for you.

If you're a business owner, cheaper .ng domains mean it's more affordable to establish a Nigerian digital identity. Better brand protection also means less risk of someone squatting on your business name.

If you're a web developer or digital service provider, this creates new opportunities to offer .ng domain packages to clients.

My take.

The .ng domain is Nigeria's digital identity. Affordable access and stronger brand protection are steps in the right direction.

If you're building a Nigerian business, securing your .ng domain should be as natural as registering your business name.

Have you registered your .ng domain yet?

24/08/2026

Japan just committed N20 billion to expand and rehabilitate Nigeria's electricity transmission network, specifically targeting the Apapa Transmission Substation.

The Japan International Cooperation Agency (JICA) is funding the project. It covers construction works, equipment procurement, engineering services, operational training, and implementation support.

Why Apapa?

Lagos is Nigeria's economic hub and one of its most populous states. Rising electricity demand and ageing facilities have continued to affect reliable power supply in the state and surrounding areas.

The Apapa substation occupies a vital position within Nigeria's transmission network. Upgrading it enhances transmission capacity, improves operational reliability, strengthens grid stability, and reduces bottlenecks affecting power evacuation and distribution.

What this tells us.

First, Japan is expanding its economic and development cooperation with Nigeria. In July, Japan committed $1 million to support digital training for 2,000 teachers.

In June, it donated $853,000 in food assistance to North-East Nigeria. Now N20 billion for electricity transmission.

Secondly, this is part of a broader push. JICA is also implementing another ODA project through a concessional loan to enhance the transmission network across the Lagos-Ogun areas. And Lagos State is pursuing investments beyond the national grid—approving 14 electricity licences and permits covering off-grid generation, independent distribution, and metering services.

What this means for you.

This is welcome news. Better transmission capacity means more stable power supply. Less reliance on generators. Lower costs.

If you're in manufacturing, logistics, or any sector that depends on the Apapa area, the impact will be more direct.

My take.

This kind of partnership builds capacity. It's not just about the infrastructure. It's about the knowledge transfer.

Are you watching Nigeria's electricity infrastructure development? How does this affect your business?

21/08/2026

Nobody calls me Founder. Nobody calls me CEO. Definitely nobody calls me Pastor and if you call me boss i will reply "na you be my oga".

Call me Coach.

That's what I do all day, every day. It's not a title I picked for LinkedIn, it's just the accurate word for what happens when you talk to me.

That clip everybody's sharing — the young lady, Mr. Elumelu, and the "you won't call me Tony" moment has been sitting with me for a different reason than most people are discussing it.

Everyone's arguing about respect. I think the real story is about power distance.

Nigeria is one of the highest power-distance cultures on earth. In Nigeria, age outranks education, status, or even a contract. The younger person in the room is expected to adjust to the elder, never the reverse. So when a young woman stood up and said "Good morning, Tony" to a 63-year-old billionaire on a public stage, she didn't just breach etiquette; she inverted the entire hierarchy the room was built on, in front of everyone watching. That was never going to end quietly.

When I ask people to call me Coach instead of CEO or Founder, I'm not flattening power distance, I'm choosing a different rung on the same ladder. Coach still commands a room. Coach still means "listen to this person." I didn't opt out of hierarchy; I just picked the version of it that fits who I actually am and what I actually do.

That's the part the Elumelu clip exposes that nobody's talking about. It's not "titles vs. no titles." It's that in a high power-distance culture, even rejecting a title is still a status move because someone has to be senior enough, established enough, secure enough for that rejection to be read as humility instead of disrespect.

Chairman Tony Elumelu is a person society has already decided is important, title or no title.

So here's my honest question for you: if you strip away every title you've been given- Founder, CEO, Chairman, Pastor, Dr., bishop or whatever it is, what's the one word that actually describes who you are and what you do all day? And would you be brave enough to make people call you that instead?

18/08/2026

Do You Run a School? You Don't Pay Income Tax. But There's a Catch.

If you run a private school in Nigeria, you've probably heard that educational institutions are exempt from income tax.

That's true. But the law isn't that simple.

Here's what the law actually says.

Section 162 (1)(a)(iii) of the Nigeria Tax Act, 2025 exempts from income tax the profits of any person engaged in educational activities of a "public character."

The key phrase is "public character." And that's where many schools get it wrong.

What does "public character" mean?

Under the Finance Act 2020, "public character" means an organisation that:

Is registered in accordance with relevant law in Nigeria and does not distribute or share its profit in any manner to members or promoters.

In simple terms: the educational institution must be a not-for-profit entity.

What this means for you.

If your school is registered as a Ltd (by shares), you are not exempt from income tax. You are running a profit-making business, and the law treats you as such.

If you want the exemption, you must register as either:

A Company Limited by Guarantee (Ltd/Gte) or

Incorporated Trustees (IT)

Both are recognised vehicles for non-profit activities. Both are precluded from distributing profits to members. All profits must be reinjected into achieving the objectives of the institution.

But here's the catch.

Even if you're exempt from income tax, it does not absolve you from:

- Filing income tax returns with the NRS

- Issuing a tax invoice monthly

- Filing monthly VAT returns

- Deducting and remitting monthly withholding tax

- Making PAYE and social security deductions and filings

Exemption from income tax is not an exemption from tax administration.

My take.

The law is clear. Many school owners operate under the assumption that "education is exempt." That's partially true. But the corporate structure matters.

If you're running a school as a Ltd by shares, you're not exempt. If you want the exemption, you'd need to restructure the organization properly. And regardless of your structure, you still have filing and withholding obligations.

What structure is your school registered under? Are you compliant?

17/08/2026

📌 5 Wealth Rules

1. Build assets before upgrading your lifestyle.

A bigger salary shouldn't automatically mean a bigger lifestyle.
Whenever income increases, ask: "How much of this can become an asset before it becomes an expense?"

Invest first. Upgrade later.

2. Invest in yourself.

Some of my highest-return investments haven't been stocks or real estate. They've been skills, personal brand and my network.

3. Treat your reputation as an asset.

Trust has financial value.
People recommend people they trust. Clients pay people they trust. Businesses partner with people they trust.

Every promise kept and every problem solved adds to your reputation. Eventually, your name starts opening doors.

4. Think in decades, not months.

Wealth rewards patience.
Instead of asking "What will this give me this month?" ask "Will this still create value 10 years from now?"

The best investments often look boring in the short term.

5. Build systems, not motivation.

Motivation comes and goes. Systems keep you moving.
Automated investments. Regular saving. Continuous learning. Monthly financial reviews.

The goal is to make good financial decisions so consistently that they become normal.

And now AI is adding another layer.

Your digital presence is becoming an asset too.
Your LinkedIn posts. Your ideas. Your projects. Your expertise. Your reputation online.

The people who build wealth in this next decade won't just be those who make more money. They'll be those who know how to turn income into assets, knowledge into value, and credibility into opportunities.