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Opinion

The Betrayal of Trust: Why Honoring Business and Loan Agreements is Essential for Nigeria’s Future

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By Prisca Ndu

Introduction

In the intricate web of economic interactions, trust serves as the invisible thread that binds parties together, enabling commerce to flourish and societies to prosper. Yet, when this thread frays through deliberate breaches of contracts or defaults on loans, it unravels not just individual deals but the very fabric of national development. In Nigeria, a nation brimming with entrepreneurial spirit and vast potential, the betrayal of agreements has emerged as an insidious form of economic sabotage, akin to a traitor undermining the ranks from within. This article argues that honoring business and loan agreements is non-negotiable, a moral and practical imperative that safeguards prosperity. Drawing on investigative insights and data, we explore how violations by individuals, corporations, and public institutions erode trust, stifle growth, and perpetuate cycles of instability.

Historical & Cultural Context

Nigeria’s commercial landscape has deep roots in pre-colonial traditions where trust was paramount, woven into the social and economic tapestry of diverse ethnic groups. Traditional markets, such as those in ancient Yoruba kingdoms or Hausa trading networks, operated on oral agreements and communal enforcement, where a person’s word was their bond, backed by cultural norms of honor and reciprocity. As noted in historical analyses, customary trust systems predated British colonialism, with communities relying on equitable obligations akin to modern trusts to manage property and trade (Adeyemo, 2021). The advent of colonialism introduced formal contracts under English law, blending with indigenous values to form a hybrid system. However, post-independence, rapid urbanization and globalization strained these foundations, yet the cultural ethos of “omoluabi” (integrity in Yoruba) or “mutunci” (honor in Hausa) underscores that betrayal was traditionally viewed as a grave transgression against community harmony.

The Present Crisis

Today, Nigeria grapples with a pervasive crisis of agreement breaches that permeates private enterprises, political elites, and government entities. High-profile cases illustrate this malaise: judicial bribery and procurement fraud remain rampant, with surveys revealing widespread perceptions of corruption in contract awards (Chatham House, 2024). For instance, the government’s escalating debt profile, fueled by unchecked loans, has raised alarms about potential defaults, as seen in debates over federal borrowing sprees (Channels Television, 2025). In the private sector, loan defaults by elites often masked through complex schemes exacerbate banking woes. Non-performing loans (NPLs) in Nigerian banks hovered around 5-10% in recent years, but spikes during economic downturns highlight systemic issues (Central Bank of Nigeria, 2024). Public institutions, too, falter: delays in paying contractors for infrastructure projects have led to abandoned ventures, costing billions in naira and eroding investor confidence (Vanguard, 2024). These breaches, often involving political figures evading obligations, transform agreements into mere paper tigers, fostering a culture where impunity reigns.

The repercussions of defaulting on agreements are profound, manifesting as economic hemorrhaging, reputational scars, and social discord. Economically, loan defaults diminish bank profitability and capital adequacy, with studies showing that high NPLs reduce lending capacity by up to 20%, stifling small businesses and growth (Achebe et al., 2024). In Nigeria, where NPLs reached 13% in 2016 amid oil price crashes, the ripple effects included bank recapitalizations and slowed GDP growth (IMF, 2017). Reputationally, defaulters be they tycoons or officials, tarnish Nigeria’s image, deterring foreign direct investment (FDI), which plummeted 45% in 2023 due to perceived risks (World Bank, 2024). Socially, these betrayals breed inequality; when elites default on loans meant for public benefit, it exacerbates poverty, with 87 million Nigerians below the poverty line (World Bank, 2024). Metaphorically, such violations are like termites gnawing at the foundation of a grand edifice unseen at first, but ultimately causing collapse.

Comparative Insight

Contrasted with nations boasting robust contract enforcement, Nigeria’s challenges stand in stark relief. In Singapore, ranked first globally for enforcing contracts with resolutions in just 164 days and costs at 25.8% of claim value, adherence is cultural and legal, fueling its economic miracle (World Bank, 2020). The UK and US fare similarly, with enforcement times of 437 and 370 days respectively, supported by efficient judiciaries and low corruption indices (World Bank, 2020). Nigeria, however, lags with 510 days and 27.2% costs, ranking 92nd, hampered by judicial delays and enforcement gaps (World Bank, 2020). This disparity underscores how strong adherence correlates with FDI inflows: Singapore attracts billions annually, whilst Nigeria’s laxity perpetuates a vicious cycle of distrust.

Bad Debts and Their Ripple Effects

Building on that, [bad debts](https://www.thisdaylive.com/2025/05/19/amid-improved-loan-quality-banks-average-non-performing-loans-increase-to-n2-59trn/) are the toxic aftermath of those NPLs. When loans go sour, banks’ capital shrinks, forcing them to cut lending by up to 20%, as per IMF studies from past crises. In Nigeria, this ripple effect is brutal: SMEs, the backbone of our economy, struggle to access credit, leading to job losses and stalled innovation. Socially, it’s even worse with 87 million Nigerians below the poverty line (World Bank, 2024 data still relevant amid ongoing challenges), bad debts exacerbate inequality by diverting funds from public services.

Picture bad debts like termites gnawing at a wooden house: silent at first, but eventually, the structure collapses. Recent data from ThisDay shows average NPLs hitting N2.59 trillion in mid-2025, despite “improved” quality, a paradox driven by aggressive lending in a volatile economy. The implication? We need tighter regulations to prevent this cycle, or risk a full-blown banking crunch.

Dealing with Loan Defaulters

So, what about the [loan defaulters](https://nairametrics.com/2025/06/24/experts-warn-of-debt-trap-sovereign-default-risk-as-nigerias-public-debt-surged-over-1000-in-naira-terms-in-10-years/)  themselves? These folks – from big-shot elites to struggling businesses – are often the villains in our story. In the public eye, they’re traitors to trust, evading obligations while the rest of us pay the price. Nairametrics reported in June 2025 that Nigeria’s debt surged over 1,000% in naira terms in a decade, with sovereign default risks looming if defaulters aren’t held accountable.

Dealing with them requires a mix of legal muscle and cultural shift. Under Nigeria’s Contracts Act, breaches are punishable, but enforcement is weak – disputes take 510 days on average, per older World Bank metrics, though subnational improvements in places like Edo State show promise. We need to name and shame, strengthen KYC rules, and promote whistleblower protections to deter future betrayals. After all, letting defaulters off the hook is like rewarding the fox for raiding the henhouse.

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Summary:

In 2024, Nigeria’s eight major banks recorded ₦2.59 trillion in non-performing loans (NPLs) against ₦45.64 trillion in gross loans, giving a ratio of about 5.7%. Sector-wide, NPL ratios stood at 4.2% in January 2025 and rose to 5.62% by April 2025, exceeding the CBN’s 5% prudential limit. This indicates a modest but notable deterioration in loan performance.

Moral & Legal Imperatives

Breaching agreements transcends legality; it embodies treachery against trust, community, and national ethos. Legally, Nigeria’s Contracts Act and Evidence Act mandate enforcement, yet weak implementation allows “traitors” to evade justice. Morally, such acts violate the communal values of traditional Nigeria, where betrayal erodes social capital essential for development (Noma, 2022). Like Judas in biblical lore, defaulters sell out collective progress for personal gain, undermining the nation’s quest for self-reliance. Reinstating honor in agreements is thus a patriotic duty, aligning with global norms where trust fuels innovation and stability.

Call to Action

To rebuild this fractured trust, Nigeria must enact bold reforms. Strengthen judicial independence to expedite contract enforcement, perhaps through specialized commercial courts as piloted in Lagos. Enhance banking regulations via stricter KYC and collateral requirements to curb defaults, building on CBN guidelines (Central Bank of Nigeria, 2024). Promote corporate governance via mandatory ethics training and whistleblower protections, drawing from anti-corruption frameworks (Chatham House, 2024). Citizens and leaders alike must champion a cultural shift: educate on the perils of betrayal and celebrate integrity-in-business champions of those who honnor loan contracts. Only through these steps can Nigeria transform from a land of broken promises to one of enduring prosperity.

KREENO Consortium is more than just a debt recovery agency, we are also a full-spectrum private investigative organization committed to upholding integrity-in-buisness culture across Nigeria’s private and public sectors. Kreeno Private Investigation Unit (KPIU) handles sensitive and complex cases, including: rape, blackmail, extortion, cyberbullying, internet fraud, investment scams, cryptocurrency scams, land scams, land grabbing, embezzlement, breach of contracts, missing assets, and employee evaluations. At the heart of our mission is a deep commitment to restoring trust, accountability, and justice in business and governance. We believe in partnering with well-meaning Nigerians who share our vision for national transformation: a vision rooted in creating equal opportunities, building a fair economy, and enabling every citizen to pursue their dreams without feeling the need to relocate or “japa” out of the country.

Kindly Contact KREENO Consortium Today: Turn losses into recoveries. Transform risks into resolutions. Convert obligations into outcomes.

Dr. Prisca Ndu, Director of Strategic Partnerships, KREENO Debt Recovery & Private Investigation Agency, writes from Lagos.

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Opinion

The State of Leadership Today: A Look at Global, African and Nigerian Realities

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By Tolulope A. Adegoke PhD

“Leadership for our age is measured not by the height of the throne, but by the depth of its roots in integrity, the breadth of its embrace of collective talent, and the courage to cultivate systems that bear fruit for generations yet unseen” – Tolulope A. Adegoke, PhD.

Leadership today is at a crossroad. Around the world, in our communities, and within our organizations, old ways of leading are straining under new pressures. This isn’t just a theoretical discussion; it’s about the quality of our daily lives, the success of our businesses, and the future of our nations. Let’s walk through the current trends, understand their very real impacts, and then explore practical, hands-on solutions that can unlock a better future for everyone.

Part 1: The Leadership Landscape – Where We Stand

The Global Picture: Beyond the Solo Leader

The image of the all-powerful, decisive leader at the top of a pyramid is fading. Today, effective leadership looks different. It’s more about empathy and service than authority. People expect their leaders—in companies and governments—to be authentic, to listen, and to foster teams where everyone feels safe to contribute. Furthermore, leadership is now tightly linked to purpose and responsibility. It’s no longer just about profits or power; stakeholders demand action on climate, fair treatment of workers, and ethical governance. Leaders must also be tech-savvy guides, helping their people navigate constant digital change while dealing with unpredictable global events that disrupt even the best-laid plans.

Africa’s Dynamic Challenge: Youth and Promise

Africa’s story is one of incredible potential meeting stubborn challenges. The continent is young, energetic, and full of innovative spirit. Yet, this tremendous asset often feels untapped. Too frequently, a gap exists between this rising generation and established leadership structures, leading to frustration. While the African Continental Free Trade Area (AfCFTA) presents a historic chance for economic unity, it requires leaders who think beyond their own borders. At the same time, democratic progress sometimes stalls, with leaders clinging to power. The most pragmatic leaders are those who engage with the vibrant informal economy—the hustlers, market traders, and artisans—who form the backbone of daily life and hold the key to inclusive growth.

Nigeria’s Pressing Reality: Crisis and Resilience

In Nigeria, the leadership experience often feels like moving from one emergency to the next. Attention is consumed by immediate crises—security threats, economic swings, infrastructure breakdowns—making long-term planning difficult. This has triggered a profound loss of confidence, visibly seen in the “Japa” phenomenon, where skilled professionals leave seeking stability and opportunity abroad. This brain drain is a direct critique of the system. Politics remains deeply influenced by ethnic and regional loyalties, which can overshadow competence and national vision. Yet, in the face of these trials, a remarkable spirit of entrepreneurial resilience shines through. Nigeria’s business people and tech innovators are daily solving problems and creating value, often compensating for wider systemic failures.

Part 2: The Real-World Impact – How This Affects Us All

These trends are not abstract; they touch lives, businesses, and countries in tangible ways.

·         On Everyday People: When leadership is perceived as self-serving or ineffective, trust evaporates. People feel anxious about the future and disconnected from their leaders. This can manifest as cynicism, social unrest, or the difficult decision to emigrate. The struggle to find good jobs, feel secure, and build a future becomes harder, deepening inequalities.

·         On Companies and Organizations: Businesses operate in a tough space. They face a war for talent, competing to retain skilled employees who have global options. They must also navigate unpredictable policies, provide their own power and security, and balance profitability with rising demands for social responsibility. The burden of operating in a challenging environment increases costs and risk.

·         On Nations: Countries plagued by poor governance face a competitiveness crisis. They struggle to attract the kind of long-term investment that builds economies. Policy becomes unstable, changing with political winds, which scares off investors and stalls development. Ultimately, this can destabilize not just one nation but entire regions, as problems like insecurity and migration spill across borders.

Part 3: A Practical Pathway Forward – Building Leadership That Delivers

The situation is complex, but it is not hopeless. Turning things around requires deliberate, concrete actions focused on systems, not just individuals.

1. Fortify Institutions with Transparency and Merit.

We must build systems so strong that they work regardless of who is in charge.

·         Action: Legally protect key institutions—the electoral body, the civil service, the courts—from political interference. Appointments must be based on proven competence and integrity, not connections.

·         Action: Implement technology-driven transparency. Let citizens track government budgets and projects in real time through public online portals. Sunshine is the best disinfectant.

2. Bridge the Gap Between Leaders and the Led.

Leadership must become a conversation, not a monologue.

·         Action: Create mandatory Youth Advisory Councils at all levels of government and in large corporations. Give young people a formal platform to contribute ideas and hold leaders accountable on issues like education, digital innovation, and job creation.

·         Action: Leaders must adopt regular, unscripted “town hall” meetings and use simple digital platforms to explain decisions and gather feedback directly from citizens and employees.

3. Channel Entrepreneurship into National Solutions.

Harness the proven problem-solving power of the private sector.

·         Action: Establish Public-Private Impact Partnerships. For example, the government can partner with tech companies to roll out digital identity systems or with agribusinesses to build modern farm-to-market logistics. Clear rules and shared goals are key.

·         Action: Launch National Challenge Funds that invite entrepreneurs and researchers to compete to solve specific national problems, like local clean energy solutions or affordable healthcare diagnostics, with funding and market access as the prize.

4. Redeploy Nigeria’s Greatest Export: Its Diaspora.

Turn the brain drain into a brain gain.

·         Action: Create a Diaspora Knowledge & Investment Bureau. This agency would actively connect Nigerians abroad with opportunities to mentor, invest in startups, or take up short-term expert roles in Nigerian institutions, transferring vital skills and capital.

·         Action: Offer tangible incentives, like tax breaks or matching funds, for diaspora-led investments in critical sectors like healthcare, renewable energy, and vocational training.

5. Cultivate a New Mindset in Every Citizen.

Ultimately, the culture of leadership starts with us.

·         Action: Integrate ethics, civic responsibility, and critical thinking into the core curriculum of every school. Leadership development begins in the classroom.

·         Action: Celebrate and reward “Local Champions”—the honest councilor, the community organizer, the business owner who trains apprentices. We must honor integrity and service in our everyday circles to reshape our collective expectations.

Conclusion: The Work of Building Together

The challenge before us is not to find a single heroic leader. It is to participate in building a better system of leadership. This means championing institutions that work, demanding transparency in our spaces, mentoring someone younger, and holding ourselves to high ethical standards in our own roles.

For Nigeria and Africa, the possibility of a brighter future is not a dream; it is a choice. It is the choice to move from complaining about leaders to building leadership. It is the choice to value competence over connection, to seek common ground over division, and to invest in the long-term health of our community. This work is hard and requires patience, but by taking these practical steps—starting today and in our own spheres—we lay the foundation for a tomorrow defined by promise, stability, and shared success. The power to deliver that possibility lies not in one person’s hands, but in our collective will to act.

Dr. Tolulope A. Adegoke, AMBP-UN is a globally recognized scholar-practitioner and thought leader at the nexus of security, governance, and strategic leadership. His mission is dedicated to advancing ethical governance, strategic human capital development, and resilient nation-building, and global peace. He can be reached via: tolulopeadegoke01@gmail.comglobalstageimpacts@gmail.com

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Opinion

Globacom Redefines Standard for Telecoms in 2026

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By Michael Abimboye

As always, Globacom is at the heart of telecoms transformation in Nigeria. The acquisition of additional spectrum, is a decisive move that has expanded network capacity and fundamentally improved customer experience.

With the ability to carry significantly higher data volumes at greater speeds, users are seeing faster downloads, stronger uploads, seamless video streaming, and clearer voice calls even at peak periods. Crucially, this expansion has driven down latency. Independent performance testing has ranked Glo as the network with the lowest latency in Nigeria, meaning faster response times whenever data commands are initiated.

This spectrum advantage is being matched on the ground by the rollout of thousands of new LTE sites nationwide. Network capacity has increased pan-Nigeria, with noticeably higher download speeds across regions. At the same time, the installation of thousands of additional towers is easing congestion and closing coverage gaps, particularly in high-density locations such as markets and tertiary institutions, where demand for fast, reliable internet is highest.

Power reliability, often the silent determinant of network quality, is also being reengineered. Globacom has deployed hybrid battery power systems across numerous sites, reducing dependence on diesel while improving sustainability. Beyond cost efficiency, this greener model delivers stronger uptime ensuring uninterrupted power supply and optimal performance for base stations and switching centres.

Behind the scenes, Glo has upgraded its switching systems and data centres to accommodate rising traffic volumes nationwide. These upgrades are designed not only for today’s demand but to ensure the network consistently meets performance KPIs well into the future, even as data consumption continues to grow.

Equally significant is the massive reconstruction and expansion of Globacom’s optic fibre cable (OFC) network. Along highways and metro routes affected by road construction, fibre routes are being reconstructed and relocated to safeguard service continuity. Thousands of kilometres of new fibre have also been rolled out nationwide, fortifying the OFC backbone, improving redundancy, reducing network glitches, and enabling the network to handle increasingly heavy data loads with resilience.

These investments collectively address long-standing coverage gaps while driving densification and capacity enhancement in already active areas, ensuring a more balanced and reliable national footprint.

At the core layer, Globacom is modernising its network elements through new platforms and applications, upgraded enterprise and interconnect billing systems, and an expanding roster of roaming partners for both in-roaming and out-roaming services strengthening its integration into the global telecoms ecosystem.

Taken together, these are not incremental upgrades. They represent a deliberate, system-wide repositioning.

In 2026, Globacom is not just improving its network; it is asserting itself as the technical leader in Nigeria’s telecommunications industry and has gone on a spending spree to satisfy the millions of subscribers enjoying seamless connectivity across Nigeria.

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Opinion

How GLO Sustains Everyday Businesses in Kano, Nigeria’s Centre of Commerce

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By Dr Sani Sa’idu Baba

For more than two weeks, Kano woke up under a veil of fog. Not the poetic kind, but the stubborn Harmattan fog that dulls vision, slows movement, and disrupts daily rhythm. Dawn arrived quietly. Shops opened late. Calls failed repeatedly. Internet bars blinked on and off like uncertain promises. Across the state, one reality became impossible to ignore: communication had become a struggle. This reality carried even greater weight in the capital of Kano, the centre of commerce in Nigeria.

As Ramadan approaches and gradually leads to the celebration of Eid-el-Fitr, everyone understands what this season represents. It is a period when online businesses, both big and small, become a major source of livelihood for millions. Traders prepare for peak demand, online vendors scale up advertising, and buyers from across the country look to Kano for goods. Visitors stream in from other states, transactions multiply, and the success of this entire commercial ecosystem depends heavily on one thing: seamless network connectivity between buyers and sellers.
In Kano, where business breathes through phone calls, alerts, and instant messages, poor network is not just inconvenient, it is costly. Calling became difficult. Browsing the internet felt like a battle. For many, it meant frustration. For others, it meant loss.

As these challenges persisted day after day, conversations across the city began to take a clear and consistent direction. In homes, offices, and markets, a new conversation began to dominate discussions. A brother of mine, deeply involved in the communication business at Farm Center Market, the largest hub for telecom activity in Kano shared his amazement. Day after day, customers walked up to data vendors with one clear, confident request: “Glo data.” Not alternatives. Not experiments. Just Glo, he said. At first, it seemed puzzling. If you were already on Glo, you might not even notice the difference. But for those struggling on other networks, the contrast was undeniable. In the middle of foggy mornings and unstable signals, Glo stood firm.

And soon, the conversation spread everywhere. At tea junctions in the early hours, as people warmed their hands around cups of shayi, discussions circled around how Glo “held up” when others disappeared. In university classrooms, students whispered comparisons before lectures began, who could download materials, who could submit assignments, and which network actually worked. More strikingly, Glo users quietly turned their phones into lifelines, sharing hotspots with classmates so others could access lecture notes, submit assignments, and stay connected. At sports viewing centres, between goals and missed chances, fans debated networks with the same passion as football rivalries. In markets, traders told customers how Glo saved their day. In every gathering of people across Kano, Glo became the reference point. The reason was simple: Glo had saved businesses.

Consider the POS operator by the roadside. Every successful transaction that attracts him/her ₦100 here, ₦200 there is survival. Failed transfers mean angry customers and lost income. During these fog-heavy days, many operators would have been stranded. But where Glo bars stayed strong, withdrawals went through, alerts dropped, and trust preserved.

Picture a roadside trader making her first sale of the day through a simple WhatsApp call, her voice steady as she confirms an order that will set the tone for her business. Nearby, an online vendor advertises products in WhatsApp groups, responds to messages, takes calls from interested buyers, and confirms deliveries, all in real time. Behind every one of these small but significant transactions is reliable connectivity. Delivery riders weaving through traffic and racing against time also depend on uninterrupted network access to reach customers, confirm payments, and complete orders. In moments when other networks struggled, Glo quietly kept these wheels of commerce turning, ensuring that daily hustle did not grind to a halt. Beyond the busy streets of the city, the impact of this reliability becomes even more profound in remote villages in Kano.

Back in Kano city, rising transportation costs have reshaped the way people work. Many professionals have had no choice but to adapt, turning their homes into offices and relying heavily on the internet to stay productive. Many now attend virtual meetings, send large files, collaborate remotely, and meet deadlines without leaving their homes. In a period marked by economic pressure and uncertainty, dependable internet is no longer a convenience, it is a necessity. In these conditions, Glo continues to provide the stability that keeps work moving forward.

At this point, Glo stops being seen merely as a telecommunications company. It emerges as the invisible backbone of the Nigerian hustle, supporting the determination and resilience of everyday people. From POS operators and online merchants to students, delivery services, market traders, and remote workers who refuse to give up, Glo remains present in the background, quietly powering their efforts. In tough terrains, harsh weather, and challenging times, when other networks fluctuate or fade, Glo stays connected.

You may not always hear it announce itself loudly, and you may not notice it when everything is working smoothly. But when a single call saves a business, when one alert prevents a financial loss, and when one stable connection keeps a dream alive, Glo proves its value, not as noise or empty promises, but as consistent reliability and lived experience. And that is how quietly, consistently, and powerfully Glo continues to power Nigeria’s everyday businesses, sustaining dreams and survival UNLIMITEDLY…

Dr. Baba writes from Kano, and can reached via drssbaba@yahoo.com

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