Apart from strong business strategy, sound management, customer centricity and prudent investments in sales and marketing, one other key driver of business growth is Ethics.
Ethical business is not just about rules and regulations. It is about living a company’s values every day, making decisions with integrity, and treating all stakeholders with respect. Companies can sometimes be too focused on making profits and end up hurting people in the process. However, ethical companies are more concerned about minimizing the negative impact that they have on people and maximizing the good that they do in their operations.
Although business growth is attributed to a combination of internal and external factors that enable a company expand its operations, increase revenue, and gain a larger market share, research has shown that as a company outperforms its peers and competitors, there is a link between ethical behavior and financial performance. This outperformance is the result of the kinds of practices which include investments in people, culture, and communities that increase engagement and decrease risk.
Therefore, in spite of palpable daunting challenges in the Nigeria’s economic landscape, with many businesses struggling to navigate an increasingly volatile economic and regulatory environment, there are a number of organisations distinguished for their unwavering commitment to exemplary business integrity, ethics, compliance, and corporate governance. More so, these companies have shown tremendous leadership in their sectors, across corporate Nigeria, and have earned sufficient brand equity due to their best global practices.
To this end, as Nigeria strives for national economic rebirth and in our tradition of celebrating excellence and promoting companies that prioritise ethical business practices, The Guardian showcases three of Nigeria’s Integrity-Driven and Transformative Companies That Has Contributed To Nation’s GDP Growth In 2025, viz: Standard Insurance Consultants Limited; CINI Holdings; and Nextzon Business Services Limited.
STANDARD INSURANCE CONSULTANTS LIMITED: Driven By Integrity, Sustained By Innovation, Excellent Service Delivery, Committed To Nigeria’s Economic Transformation
With over 45 years of experience in the insurance industry, Standard Insurance Consultants Limited (SICL) has consistently stood out as dependable and a leading customer-focused insurance brokerage firm in Nigeria. Without a doubt, the company has grown steadily with a significant impact on the Industry. This is not far-fetched given that the company has continued to deliver on its core values of trust, integrity, and professionalism by providing top-tier services to organizations, within Nigeria and overseas.
It is, therefore, no gainsaying that the success of SICL would not have been possible without the competence and astuteness of the President and indefatigable Chief Executive Officer, Professor Ahmed bin Salawudeen Olaniyi, whose dexterity and doggedness have contributed significantly not only to the company’s growth, but also to the Nigerian Insurance Industry, as a whole.
A successful Chartered Insurance Practitioner, Real Estate Investment Advisor and Award-Winning Entrepreneur, with over four and half decades of experience in the Global Insurance Industry, Professor Salawudeen has built a reputation for himself as a frontline leader in the placement and management of various types of insurance risks, which has endeared him to a clientele spanning the private and public sectors who regularly rely on his expertise on insurance, reinsurance, and risk management. He is also the President of Standard Group Holdings which houses SICL, SICL Reinsurance Brokers Ltd and Signature Global Real Estate LLC (SGRE); a multinational real estate brokerage and property management company based in Dubai, United Arab Emirates.
In his reaction to the recognition of Standard Insurance Consultants Limited as one of Nigeria’s “Twenty (20) Leading Ethical, Integrity-Driven and Transformative Companies That Contributed To Nigeria’s GDP Growth In 2025”, by The Guardian, the renowned insurance expert of international repute spoke about SICL’s corporate vision and its success story, the company’s core operations and how it is promoting ethical business practices to impact the Nigeria’s Insurance Industry, amongst key sundry issues. Excerpts …
How can you describe the nexus between Standard Insurance Consultants Limited’s corporate vision and its success story, cutting-edge advantage, growth trajectory and how the company has been able to earn the trust of both clients/customers and shareholders?
Standard Insurance Consultants Limited’s corporate vision has always been to provide innovative and reliable insurance and reinsurance solutions that safeguard lives, assets, and investments. That vision is not just a statement; it is the foundation upon which our success story has been built for over 45 years. The company’s success and its ability to earn the trust of its clients locally and internationally are predicated on the foundations Trust, Integrity, Selection of underwriter/ Risk Carriers, and Remittance of Premium to Risk carrier/ Underwriter.
With these criteria, SICL has been able to run a successful business effectively, and consequently its business retention as of today is about 95%. Our growth trajectory is a reflection of this consistency. From a modest beginning, Standard Insurance Consultants Limited has expanded across Nigeria, Africa, and beyond, while sustaining long-standing relationships with clients who see us not just as an intermediary, but as a dependable partner in risk management.
As a key player in the nation’s economy, what is your overall assessment of the Insurance Sector and the business landscape in Nigeria?
Generally speaking, the Insurance Sector in Nigeria has continued to evolve as a vital contributor to national economic growth – it is a key to the development in the financial sector. While penetration levels remain modest compared to global standards, the nation’s Insurance Industry will have to do a lot more on awareness and penetration.
That means, for the Sector to take its position in national development and move the country’s economy to a new height, new steps have to be taken and certain strategies must be adopted to achieve this vision.
First, Nigeria needs a purposeful and visionary leader who can cultivate the idea of countries such as Singapore, Malaysia, the UAE, who were hitherto classified as Third World and many others who have achieved economic success over the years. Interestingly, the present government led by President Ahmed Bola Tinubu is already pursuing agenda in this area. While it is strongly believed that Nigeria can do it; there is need the will and ability to combat corruption at all levels. Thus, if the economy improves, and by extension, the Insurance Industry, being part of the financial systems, will improve and the contribution to the GDP will also go up.
Secondly, provision of medical insurance to Nigeria’s teeming population. The cost of providing medical administration on a daily basis, particularly with the advent of new medical solutions and medical treatment, has become out of reach to the generality of the common people. An average family in Nigeria cannot afford the cost of basic medical services, therefore must find a strategy and or solutions to address this important issue. At SICL, we strongly believe that if all stakeholders in the Insurance Industry come together to form a partnership arrangement with the government at federal, state and local governments, a simple and straightforward solution can be found to address this malady.
Essentially, there is need for a form of one Medical Insurance cover or the other to be provided with the assistance of insurance companies and the government. Also, recently President Bola Tinubu’s government was giving out palliatives to citizens with the aim of supporting their wellbeing. In truth, the best palliatives should be in the provision of healthcare facilities which can be achieved by working with the Insurance Industry providing Health Insurance for the citizenry.
Furthermore, all operators should stand firm and follow the ethics of the profession. Trust is very key, and it should be visible in all things that we do as it concerns the insurance business. In the same vein, risk carriers/underwriters must ensure that all legitimate claims are settled, as and when due.
Meanwhile, the regulator – the National Insurance Commission (NAICOM) should work with all the stakeholders in the Industry including the Nigeria Insurance Association (NIA); Nigerian Council Of Registered Insurance Brokers (NCRIB), The Institute Of Loss Adjuster Body Of Nigeria (ILAN) – and be at the forefront, advising government on how to tackle the challenges in the nation’s insurance business ecosystems.
The business landscape is also shifting towards customer-centricity and digitalization. Insurers should leverage on technology to increase access, improve efficiency, and engage younger demographics. With the full implementation of the Nigerian Insurance Industry Reform Act 2025 and a strong regulatory framework, the Industry is well positioned to become a strong enabler of Nigeria’s GDP growth, provided we sustain reforms, strengthen trust, embrace innovation.
Can you give an insight into how integrity has driven Standard Insurance Consultants Limited’s core operations management, especially as it bothers on the company’s current engagements and projects?
It is no longer news that running a successful business in Nigeria can be challenging, but at Standard Insurance Consultant Limited, we have had a remarkable journey spanning over 45 years. Built on a solid foundation, our company has continued to thrive and grow stronger with each passing year, Insha Allah! Our 45th anniversary was celebrated amid pomp and gallantry in May, 2025, as a way of showing gratitude to Almighty Allah for His steadfastness. It also provided opportunity to appreciate our clients, employees, and partners both locally and internationally, who have all been supportive and remained loyal to the brand.
Apart from Integrity, what are the other unique ways Standard Insurance Consultants Limited is promoting ethical business practices to impact the industry particularly, and the Nigerian economy, as a whole?
We wish to state equivocally that integrity is one of the strong principles that SICL stand on and other strong strategies are Trust and high level of Professionalism in our ability to deliver on promises. However, the hallmark of our business innovation approach is encapsulated in the robust digitalisation of our business operations and processes. In this fragile and uneven period of global recovery and as technology is advancing daily, SICL came to the realisation that for a better service delivery to our customer, investing in technology is paramount.
Coupled with that is our commitment to training of our employees – another strong innovative strategy to combat any changes that may impact our line of business. Our employees are exposed to the best in terms of human capital development as they are sent for training, both locally and internationally.
All these innovative trends hold the drive for SICL’s development growth initiatives to boost our investment in the Insurance Industry. We intend to turn these trends into an opportunity by focusing on people-centric solutions.
Basically, in all the major economies of the world, the Insurance Sector has a major impact on business productivity and growth. In like manner, economic growth also have a significant impact on the demand for insurance services.
Thus, the contribution of SICL to the Nigeria’s economy is quite immense. First, we considered insurance as an enabler of economic activity. We offer space for businesses to operate effectively and support organisations’ business continuity plan without which an advanced economy cannot function. Second, SICL provides a source of employment to the Nigeria’s labour market. Third, as corollary to provision of employment, the company also engages in Corporate Social Responsibility (CSR), supporting education, community development, and social empowerment initiatives that contribute to the nation’s socioeconomic progress.
Can you share information on any form of attestation (certification(s), award(s), recognition(s), etc) to the iconic and transformative status of the Standard Insurance Consultants brand?
Over the years, SICL has received various awards in recognition of its unalloyed professionalism, quality service delivery, and ethical conduct in business operations. Outside the shores of Nigeria, in 2017 the company received the BIZZ Award from the World Confederation of Businesses (WORLDCOB) at the Burj Al Arab Hotel in Dubai, UAE. With that award, SICL became an elite member of WORLDCOB, alongside some other notable global companies such as Sohar Bank (Oman), Dubai Duty Free (UAE), Doha Bank (Qatar), Saudi Telecom Company (Saudi Arabia), BBK BSC (Bahrain), National Bank of Kuwait (Kuwait), Emirates Identity Authority (UAE), and Ethiopian Airlines.
Similarly, SICL has received an Excellence in Quality Award from the International Socrates Committee in Oxford, England. More recently, in November 2021, it received, for a second time, the BIZZ Award from WORLDCOB, this time in Doha, Qatar.
In October 2021, the company received in Nigeria, the BusinessDay Banks and Other Financial Institution (BAFI) Award as the Insurance Brokers of the Year 2021.This remains the only award we have received in locally and it is very special to us. To be rated against other leaders in the Industry and come out tops in an independent assessment is very fulfilling. This are clear evidence that the hard work we have put in over four decades and half has yielded good results and public’s accolade. All this recognition has given us an impetus to put in additional efforts in always providing an excellent professional service across all our client touch points.
SICL received the BAFI Awards again as the insurance Brokers Of the Year in 2022, 2023, 2024 for the fourth time and the company has been shortlisted for the Year 2025 Award!
How CINI Holdings’ driving growth through strategic partnerships, innovative solutions, sustainable ethical practices across multiple sectors, by Okunola
CINI Holdings, an African-based conglomerate, is a company built on the foundation of collaboration, innovation, and sustainable growth. Driving growth through strategic partnerships, innovative solutions, and sustainable practices across diverse sectors, the company’s commitment is to simplify complexities, unlock new opportunities, and deliver value across multiple industries. These include construction, engineering, energy, technology, supply chain management, mineral exploration, real estate, and agro-allied services.
While expanding its footprint across Africa and emerging markets worldwide, CINI Holdings’ focus remains on delivering high-impact solutions that address real-world challenges. Through strategic partnerships, cutting-edge technology, and a steadfast commitment to excellence, we continue to shape industries, empower communities, and contribute to a more sustainable future.
With the vision and mission to provide transformative engagements with clients, partners and stakeholders to build a future defined by progress, innovation, and shared success.
For these and more, CINI Holdings has been recognised by The Guardian as one of Nigeria’s “Twenty Leading Ethical, Integrity-Driven and Transformative Companies That Contributed To Nigeria’s GDP Growth In 2025”.
In a brief chat, Chief Dr. Habeeb Olalekan Okunola, OFR, MON, FICAb, President of CINI Holdings, spoke with The Guardian on the company’s corporate vision, its success story, the overall assessment of the Energy, Construction and allied Sectors and the business landscape in Nigeria, how CINI Holdings is promoting ethical business practices, amongst other sundry issues. Excerpts ….
How can you describe the nexus between CINI Holdings Nigeria’s corporate vision and its success story, cutting-edge advantage, growth trajectory and how the company has been able to earn the trust of both clients and shareholders?
Our corporate vision at CINI Holdings has always been anchored on the fundamental principle that “collaboration is the new innovation.” This philosophy has been the cornerstone of our remarkable transformation from a predominantly Nigeria-based enterprise to a multinational conglomerate with significant footprints across Africa’s most strategic economic sectors.
The nexus between our vision and success story lies in our steadfast commitment to creating sustainable value through strategic partnerships and innovative solutions. Our cutting-edge advantage stems from our diversified portfolio spanning energy, construction, engineering, agriculture, and technology sectors that are critical to Africa’s economic renaissance. This diversification strategy has not only insulated us from sector-specific volatilities but has also positioned us as a one-stop solution provider for complex, multi-sectoral projects.
Our growth trajectory has been exponential, driven by our ability to anticipate market needs and deliver solutions that exceed expectations. The trust we’ve earned from clients and shareholders is built on three fundamental pillars: consistent delivery of quality projects, transparent governance structures, and our proven track record of creating shared value for all stakeholders. When clients see landmark projects like our 330 KVA transmission lines or the construction of the state-of-the-art visual arts centre for the Kwara State Government in Ilorin, among others, they witness tangible proof of our capabilities and commitment to excellence.
As a key player in the nation’s economy, what is your overall assessment of the Energy, Construction and allied Sectors and the business landscape in Nigeria?
The Nigerian business landscape presents a fascinating paradox of immense opportunities coupled with complex challenges. In the energy sector, we are witnessing an unprecedented transformation driven by the urgent need for energy security, renewable energy adoption, and infrastructure modernisation. The recent policy reforms and increased private sector participation have created a more conducive environment for investments and innovation.
The construction sector remains the backbone of Nigeria’s infrastructural development aspirations. With the government’s renewed focus on infrastructure as an economic growth driver, coupled with increasing urbanisation, the sector is poised for sustained growth. However, challenges around funding, policy consistency, and skilled manpower remain areas requiring collective attention.
What excites me most about the current landscape is the growing emphasis on sustainability and environmental consciousness. Our successful remediation projects in Ogoniland demonstrate that Nigerian companies can deliver world-class environmental solutions while contributing to economic growth. The integration of technology across all sectors is also creating new possibilities for efficiency and innovation.
The allied sectors, particularly agriculture and technology, are experiencing a renaissance that positions Nigeria as a regional powerhouse. Our strategic positioning across these interconnected sectors enables us to create synergies that drive both profitability and national development.
Can you give an insight into how integrity has driven CINI Holdings Nigeria’s core operations management, especially as it bothers on the company’s current engagements and projects?
Integrity is not merely a corporate value at CINI Holdings; it is the DNA of our organisational culture. In our current engagements and projects, integrity manifests in several critical dimensions.
First, in our project execution methodology, we maintain absolute transparency with all stakeholders from conception to completion. Every project undergoes rigorous quality assurance processes, and we never compromise on specifications or timelines, regardless of external pressures. Our work on critical infrastructure projects demands this level of integrity because the safety and welfare of millions of Nigerians depend on the quality of our deliverables.
Second, our procurement processes are built on fairness and merit. We have established robust vendor management systems that ensure equal opportunities for qualified suppliers while maintaining the highest standards of quality and cost-effectiveness. This approach has not only enhanced our operational efficiency but has also contributed to the development of local capacity within our supply chain.
Third, our financial management practices adhere to international best practices with full disclosure and accountability. This commitment to financial integrity has earned us the confidence of international development partners and financial institutions, enabling us to access competitive funding for large-scale projects.
In our current engagements, including ongoing infrastructure projects and environmental remediation initiatives, integrity guides every decision we make. We believe that sustainable business success can only be achieved when stakeholders have complete confidence in our processes and outcomes.
Apart from Integrity, what are the other unique ways CINI Holdings Nigeria is promoting ethical business practices?
Beyond integrity, CINI Holdings has institutionalised several unique approaches to ethical business practices that set us apart in the marketplace.
Stakeholder Capitalism: We have adopted a stakeholder capitalism model that prioritises the interests of all stakeholders – employees, communities, clients, shareholders, and the environment, rather than focusing solely on shareholder returns. This philosophy is evident in our community development initiatives and our commitment to local content development.
Environmental Stewardship: Our environmental sustainability practices go beyond regulatory compliance. We have integrated environmental impact assessment into every project from inception, and our successful environmental remediation work demonstrates our commitment to leaving a positive environmental legacy.
Capacity Building and Knowledge Transfer: We have made significant investments in human capital development, not just for our employees but for the broader industry. Our partnerships with educational institutions and professional bodies help build the next generation of skilled professionals in our sectors.
Corporate Governance Excellence: We have implemented governance structures that exceed regulatory requirements, including independent board oversight, regular stakeholder engagement, and transparent reporting mechanisms.
Social Impact Integration: Through the Habeeb Okunola Foundation, we have directly impacted over 20,000 underserved Nigerians, with programs aligned with the UN Sustainable Development Goals. This integration of social impact into our business model demonstrates our commitment to inclusive growth.
Tell us more about the innovative approaches that CINI Holdings Nigeria has brought to impact the industry particularly, and the Nigerian economy, as a whole.
Our innovative approaches are centred around what I call “convergence innovation”, the strategic integration of multiple sectors to create synergistic solutions that address complex socioeconomic challenges.
Technology Integration: We have pioneered the use of advanced technologies in traditional sectors. In our construction projects, we employ Building Information Modeling (BIM), drone surveys, and IoT-enabled project management systems. These technologies have not only improved our efficiency but have also set new industry standards for project delivery.
Public-Private Partnership (PPP) Models: We have developed innovative PPP frameworks that optimize risk sharing and ensure sustainable project financing. Our approach to PPP projects considers long-term operational sustainability, not just initial capital deployment.
Circular Economy Principles: In our energy and environmental projects, we apply circular economy principles that transform waste into resources. Our environmental remediation work in Ogoniland exemplifies how environmental restoration can be economically viable while creating employment opportunities for local communities.
Cross-Sector Synergies: Our diversified portfolio allows us to create unique synergies. For instance, our agricultural projects supply raw materials for our construction activities, while our energy projects power our manufacturing operations, creating integrated value chains that enhance overall efficiency.
Innovation Hubs and Incubation: We have established innovation hubs that support startups and SMEs in our operational sectors, fostering an ecosystem of innovation that extends beyond our direct operations.
These approaches have not only enhanced our competitiveness but have also contributed to job creation, technology transfer, and the development of local capacity across multiple sectors of the Nigerian economy.
Can you share information on any form of attestation (certification(s), award(s), recognition(s), etc) to the iconic and transformative status of the CINI Holdings Nigeria brand?
The recognition that CINI Holdings and I have received over the years reflects not just our achievements, but the transformative impact we continue to make across multiple sectors of the economy.
International Recognition: Our entrepreneurship accomplishments and commitment to sustainable development have been recognised by prestigious global institutions, including Forbes and Fortune magazines, as well as the United Nations. These recognitions validate our approach to business as a force for positive change.
National Honours: I am privileged to be a recipient of national honours, including the Officer of the Federal Republic (O.F.R) and Member of the Order of the Niger (M.O.N), which recognise not just my significant contributions to national development, but those of CINI Holdings
Industry Leadership: CINI Holdings has received numerous industry awards for project excellence, innovation, and corporate governance. Our landmark projects have become benchmarks for quality and innovation in their respective sectors.
These attestations represent more than mere recognition; they are testimonials to our unwavering commitment to excellence, integrity, and transformative impact. They validate our belief that businesses can be profitable while making meaningful contributions to societal development.
As I often say, “empowerment is the proof of wealth.” These recognitions remind us of our responsibility to continue leveraging our success to empower others and contribute to the collective prosperity of our nation and continent.
How integrity in design and execution, positioned Nextzon as a trusted partner to clients, by Atasie
At Nextzon, our Vision is to be a renowned management consulting firm with a visible presence in automation by 2027. That Mission is the compass that guides our strategy and fuels our success story.
Our cutting-edge advantage lies in the way we combine deep market knowledge with world-class management consulting and technology deployment in our target markets. Whether it is our pioneering role in the National Identity Management ecosystem, our catalytic involvement in the POS and agent banking revolution, or our support to state governments in digitizing informal sector collections, we do not merely execute projects; we seek to build platforms that become key infrastructure.
This growth trajectory is sustained by trust. Clients trust Nextzon because we operate with transparency and deliver results. We demonstrate not only technical expertise but also the rare ability to align business outcomes with national developmental goals.
The Nigerian fintech and business solutions sector has become the heartbeat of our economy. It is young, dynamic, and resilient; continuously breaking barriers of financial inclusion, payments, and access to credit. Nigeria has moved from being a follower to becoming a continental leader in fintech adoption.
However, the landscape is not without its challenges: regulatory evolution, infrastructural gaps, and trust deficits still exist. Yet, these challenges present opportunities for structured players like Nextzon to bring discipline, strategy, and scalable models into the space. The future belongs to firms that can blend integrity, innovation, and execution discipline. With Nigeria’s youthful demography and digital adoption, I believe the sector will remain the fastest growing contributor to GDP over the next decade.
Integrity is not a slogan at Nextzon; it is the foundation of our operations. Our projects embody this principle in a pragmatic way.
In our work with the National ID program, integrity means creating a trusted digital identity system that strengthens governance, eliminates fraud, and ensures that every Nigerian can be uniquely identified. In the POS and agent banking revolution, it means building an ubiquitous and inclusive system that starts the formalisation of millions of micro-entrepreneurs. At the state government level, integrity means facilitating the digitisation of informal sector revenue collections in a manner that blocks leakages and enhances transparency. With this, government revenues are maximised for the public good and trust is built with citizens.
By embedding integrity in design and execution, we have positioned ourselves as a trusted partners to our clients. We believe ethics is a broad spectrum. Beyond integrity, we drive ethical practices through:
• Capacity building: We invest in training our staff, partners, and clients to build competence and professionalism.
• Transparency and accountability: Every project we run is benchmarked against measurable outcomes that are jointly agreed with clients
• Local empowerment: By deliberately working with SMEs, local agents, and state institutions, we ensure our projects are inclusive and foster shared prosperity.
• Sustainability mindset: Our business solutions are functional, resilient, and socially responsible.
Through these, we model ethical business conduct that strengthens industries and contributes meaningfully to Nigeria’s economic resilience.
As Nextzon, our transformative journey has been recognized through various awards, industry acknowledgments, and partnerships. We have received recognition for our role in advancing financial inclusion, public sector innovation, and digital transformation in Nigeria. Additionally, our consultants have contributed to shaping national policies and frameworks that have been commended locally and internationally.
Our greatest attestation however, comes from the success of our clients and our continuing partnership with them on projects. Each successful project stands as living evidence of our iconic and transformative impact.
