Hikes banks' CRR to 50% from 45%, merchant banks rate to 16% from 14%
say stifling financial conditions
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Says pursuit of individual national priorities undermining resolutions of global challenges
Insists on permanent seat for Nigeria, other African nations at UN Security Council
yesterday, asked the United Nations (UN) to
President
Says politicians with dirty minds would still manipulate process, canvasses attitudinal change
Secondus: APC has buried Nigeria’s democracy, 2027 won’t come Ruling party warns Yiaga Africa
Oshiomhole: Obaseki is politically dead US govt urges stakeholders to support process of challenging poll results africa’s richest Person, aliko Dangote backs Total fuel Subsidy
L-R: Elemuren of Emuren, Oba Adesegun Bolaji Alowonle; Olowu of Owu, Oba Saka Matemilola; Chairman, Ogun State Council of Obas and the Olu and Paramount Ruler of Yewaland, Oba (Dr) Kehinde Olugbenle; Elegushi of Ikateland, Oba Saheed Ademola Elegushi; Co-Chairman, Southern Nigeria Traditional Rulers Council and Jaja of Opobo, HRM (Dr) Dandeson Douglas; Ogun State Governor, Prince Dapo Abiodun; his Deputy, Engr (Mrs) Noimot Salako-Oyedele; Co-Chairman, Southern Nigeria Traditional Rulers Council and Obi of Obinugwu, HRM Eze Cletus Ilomuanya; Alara of Ilara, Oba Olufolarin Olukayode Ogunsanwo; Oniru of Iruland, Oba Abdulwasiu Omogbolahan Lawal and Olofin of Isheri, Oba Sulaiman Adekunle Bamgbade, during a courtesy call on Governor Abiodun by the Technical Committee of the Southern Nigeria Traditional Rulers Council at Oke-Mosan, Abeokuta... yesterday
L-R: Senators Adeola Olamilekan; Sadiq Umar; Adams Oshiomhole and President of the Senate, Godswill Akpabio, at the commencement of the Second Legislative year of the 10th Assembly,.....yesterday
Emmanuel Addeh in Abuja and Peter Uzoho in Lagos
President of Dangote Group, owners of Dangote Petroleum Refinery and Petrochemicals, Alhaji Aliko Dangote, has advocated the total removal of fuel subsidy, saying it is no longer sustainable.
The federal government had reintroduced subsidy on petrol, barely one year after President Bola Tinubu, during his inauguration speech on May 29, 2023, declared, "Subsidy is gone."
But in an interview on Bloomberg Television in New York on Monday, Dangote said the removal of subsidy would take care of any discrepancy in consumption figures and also help government save money.
“Once you are subsidising something, then people will bloat the price and then the government will end up paying what they are not supposed to be paying. It is the right time to get rid of subsidies," he argued.
Dangote further justified his call for subsidy removal by maintaining that countries of the world were doing away with the funding of petrol subsidy since it was not sustainable.
He stated, "All countries have got rid of subsidy. Let me give you an example. Saudi Arabia used to give what Saudis, the citizens, believe is their oil and it is their own God-given gift, so government shouldn't charge them. So government was selling it
at a low price.
"But today, as we speak gasoline (petrol) is about 40 per cent cheaper in Nigeria than Saudi Arabia, which I think doesn't make sense.
“Number two, our price for gasoline is about 60 per cent of the price of our neighbouring countries and we have porous borders. So it is not sustainable."
Dangote stated that Nigeria could no longer afford subsidy, but stressed that whatever decision will eventually be taken will depend on the federal government.
"The amount of subsidy we are paying, government cannot afford that kind of subsidy," he said.
Asked if he was advocating subsidy removal to make his refinery viable, Dangote said, "We have a choice of when we produce, we can export, or when we produce, we sell locally. We are a private company. And yes, it’s true, we have to make profit.
"We built something worth $20 billion. Definitely we have to make money. The removal of petroleum subsidy is totally dependent on government, not on us. We cannot change price.
“But I think government should give up something for something; so I think at the end of the day, the subsidy will have to go."
He said Dangote Refinery will resolve the controversy about the total daily consumption of petrol in Nigeria.
According to him, "This our refinery will bring a lot of things out there. It will show the real consumption of Nigeria because nobody can tell you. Some people say 60 million litres gasoline per day, some said it is less; but right now by us producing, everything can be counted, so everything can be accounted for."
To ensure that, Dangote said there will be tracking devices on his trucks to ensure their movements were made transparently.
He said, "Most of the trucks and
ships that will come and load from us, we will put a tracker on them, to be sure they are going to take the oil within Nigeria and that can help the government to save quite a lot of money."
Dangote last week started selling its petrol in the local market, especially to the Nigerian National Petroleum Company Limited (NNPCL) in dollars.
The refinery promised to sell to NNPCL or any other petroleum marketer in naira from next month, October 1, when it will start using
the batch of crude purchased in the local currency. Meanwhile, oil workers under the aegis of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) called on the federal government to increase its equity shareholding, through NNPCL, in the Dangote Refinery, from the existing seven to at least 45 per cent. President of PENGASSAN, Mr. Festus Osifo, made the call yesterday in Lagos during a press conference, where he presented the communique of the recent PENGASSAN Energy
and Labour Summit (PEALS 2024) in Abuja. The summit had the theme, “The Future of Nigeria’s Oil and Gas Industry: Energy Mix, Energy Security, Artificial Intelligence, Divestment and Crude Oil Theft.” Osifo explained that energy security was cardinal for the survival of any nation, with Nigeria not an exception; saying the citizens of Nigeria constantly demand energy affordability, accessibility and availability
Bala Usman, Yemi-Esan, Akabueze Brainstorm on Citizens' Engagement, Policy Reforms
Special Adviser to President Bola Tinubu on Policy and Coordination and Head of Central Delivery Coordination Unit, Hadiza Bala Usman; ex-Head of Service of the Federation (HoSF), Folashade Yemi-Esan and immediate past head of the Budget office, Ben Akabueze were part of a panel yesterday that discussed ways to enhance government-citizen engagement in the country.
The three spoke during an ‘exit
and dissemination’ programme in Abuja for the Partnership to Engage Reform and Learn (PERL), a publicsector accountability and governance programme funded by the Foreign Commonwealth and Development Office (FCDO) of the UK.
Other prominent Nigerians who sat on the panel anchored by a former Director General, Bureau of Public Sector Reforms (BPSR), Dr Joe Abah, were Dr Otive Igbuzor, ex-Chief of Staff to former Deputy Senate President, Ovie Omo-Agege; Chief Executive,
Nigeria Economic Summit Group (NESG), Tayo Aduloju, among others.
The programme which was launched in 2016 aimed to improve collaboration between governments and citizens to tackle governance challenges and improve service delivery.
It worked in seven locations across Nigeria, including at the federal level and in states like Kano, Kaduna, and Jigawa and also maintained a SouthWest regional hub with an office in Lagos to cover Lagos, Ogun, Ondo, Osun, Oyo and Ekiti states.
to tackle the most," she pointed out. Other challenges, she said, included funding of the processes, shared missions, political buy-in to the reform processes and the know-how. In her intervention, presidential aide, Hadiza Bala Usman, stressed that recognising the need of capturing marginalised groups, the Bola Tinubuled government has approved quarterly stakeholders meetings.
Emma Okonji and Agnes Ekebuike
Airtel Nigeria, yesterday, reaffirmed commitment to fostering its sustainability agenda and long-term growth that will improve educational access in Nigeria.
Head of Public Relations at Airtel Nigeria, Sam Adeoye, who reaffirmed the commitment on behalf of Airtel's Chief Executive Officer, highlighted the telecommunications company’s efforts in driving positive environmental and societal change, emphasising the pivotal role that the media support has played in these initiatives.
“Despite these hurdles, Airtel remains steadfast in its goal to drive progress that not only benefits the environment but also uplifts society,” Adeoye said.
According to him, one of Airtel's most impactful projects is its ongoing partnership with UNICEF, aimed at improving educational access in public schools across Nigeria. Initially, the company supported 900 schools, a figure that has since grown to approximately 1,280, with plans to extend support to an additional 300 schools by the end of the financial year, he said.
The collaboration, facilitated through the Federal Ministry of Education,
According to him, Airtel's sustainability agenda is built on key pillars, including energy transition, carbon footprint reduction, and enhancing CSR initiatives. These efforts aligned with the global Sustainable Development Goals (SDGs), Adeoye said. He acknowledged the unique challenges Africa faced, particularly its reliance on oil and gas.
provided students and teachers with free access to learning platforms, including the Nigerian Learning Platform and Global Africa, without data charges, Adeoye said.
He said the initiative was a significant leap towards Airtel’s goal of reaching one million children across Africa within five years, with a particular focus on supporting two million children in Nigeria alone.
Speaking on the on the environmental front, Director of Marketing at Airtel, Ismail Adeshina, stated that Airtel had been tackling its heavy reliance on diesel-powered generators, which currently consumed about 22 million litres of diesel monthly across 15,000 sites in Nigeria. This translates to billions of Naira in costs and a significant carbon footprint.
To counter that, the company said it was transitioning its sites to grid power and incorporating solar energy solutions. It said this shift not only reduced operational costs but also helped lower harmful emissions, marking a key step in Airtel's broader sustainability efforts.
Adeshina emphasised that sustainability was not just a series of projects, but part of the company’s culture. He said the company was committed to making sustainability a way of life for its employees and the communities it served.
Through its combined focus on education, environmental responsibility, and technological advancement, Airtel had continued to set a high standard for corporate sustainability in Nigeria and beyond, Adesina said.
It also maintained a regional hub office in Enugu covering Enugu, Abia, Imo, Ebonyi and Anambra states as well as the North-East regional hub comprising Borno, Yobe and Adamawa states.
Speaking at the event, the erstwhile HoSF, Yemi-Esan, stated that the challenges of reforms were the same everywhere, pinpointing people’s mindset as a major problem.
“I think the biggest challenge we have when we are driving reforms is the mindset and the resistance to change. Once you are used to a certain method, a certain way of doing things, a new method comes in and we are not ready to even give that new method an opportunity.
“We want to tear it down, we want to pull it down immediately. So I think that might be the biggest challenge. There are several other challenges, but the one that has to do with the mind, I think, is the one that is the biggest and the one that we need
She explained that there was the need for continued engagement recognising all the relevant stakeholder groups within a cluster, stressing that it was part of what was being assessed with current ministers.
She added that the citizen delivery tracker deployed by the government was also a tool that the Central Reserve Delivery Unit launched last year to enable citizens to participate in governance.According to her, the platform ensures transparency and accountability, allowing citizens to comment on the government's performance and contribute to improving service delivery.
The Open Government Partnership (OGP), she stressed, is also another key driver of citizen engagement, providing structures for governance to engage with citizens and facilitate dialogue. Also speaking, Ben Akabueze, the former head of Nigeria’s budget office said there was the need to review constitutional provisions regarding the budget in Nigeria, which he said are very vague.
NARD executives visit GoveRNoR AbioDuN...
L-R: Treasurer, National Association of Resident
James emejo
The Director General, Budget Office of the Federation (BoF), Mr. Tanimu Yakubu, yesterday requested that executive budget proposals by ministries, departments and agencies of government (MDAs) must be coherent and purpose-driven, and embodying government's vision for security and development.
Speaking at the commencement of the training of MDAS on 2025
Budget Preparation using the Government Integrated Financial Management Information System Budget Preparation Sub-System (GIFMIS/BPS), in Abuja, he said the quality of national budget had been a longstanding concern, with stakeholders often questioning the relevance, execution, and effectiveness of our budgetary proposals.
He said training offers a critical opportunity for all MDAs to reflect on their roles in the budget process.
He said, "Together, we can ensure that our budget proposals for 2025 are not only robust and focused but also aligned with our national priorities.
"This is our moment to demonstrate to the Nigerian people our steadfast commitment to delivering a budget that genuinely meets their needs while upholding strict fiscal discipline.
"As we prepare the 2025 budget, I urge all MDAs to stay true to their
mandates. Our executive budget proposals must be coherent and purpose-driven, embodying the government's vision for security and development."
Yakubu pointed out that MDAs hold the vital responsibility of transforming government priorities into actionable programs and projects, and encouraged them to meticulously review their submissions to ensure they align with government's overarching
Goddy egene
The founder of BUA Group, one of Africa’s leading conglomerates, Abdul Samad Rabiu, has extended a donation of N2 billion to aid the victims and support recovery efforts in Borno State.
According to a statement from the conglomerate, the donation was in response to the recent devastating floods in Maiduguri and President Bola Tinubu’s call to the private sector to support recovery efforts,
The donation included N1 billion in cash and N1 billion worth of essential food supplies, aimed at alleviating the suffering of displaced persons and communities affected by the floods. This was made known when a delegation from him visited Maiduguri to deliver the food items as well as the cash donation.
Speaking on the donation, the industrialist and philanthropist, who is the Chairman of BUA Group and Abdul Samad Rabiu Africa Initiative (ASR Africa), reaffirmed his com-
mitment to standing by Nigerians in times of need.
He said: “The recent flooding in Maiduguri has caused untold hardship for thousands of families. I believe it is my responsibility and that of my organisation which is deeply rooted in the fabric of Nigerian society, to act swiftly and meaningfully in providing relief to those affected.
“This N2 billion donation to the victims of the recent flooding in Borno is one way of supporting the most vulnerable in times of crisis.”
Tinubu Asks Senate to Screen Kekere-Ekun for Appointment as CJN
Honourable Justice Kudirat KekereEkun for confirmation as CJN.
President Bola Tinubu yesterday asked the Senate to screen for confirmation of the appointment of Hon. Justice Kudirat Kekere-Ekun, as the Chief Justice of Nigeria (CJN).
Also yesterday, the President requested for the House of Representatives approval of additional Supplementary Budget Proposal to the 2024 Statutory Appropriation for the Federal Capital Territory Administration (FCTA).
Tinubu in a letter addressed to the Senate President Godswill Akpabio, in seeking the screening of Kekere-Ekun, said his request was in accordance with the nation's constitution.
Part of the letter read, “Pursuant to 231(1) of the constitution of the Federal Republic of Nigeria of 1999 as amended which gives the power to the president to appoint the CJN on the recommendation of the National Judicial Commission (NJC) and subject to confirmation of the Nigerian senate, I have the honour to forward the nomination of
“While I hope that this request will receive the expeditious consideration and confirmation of the Senate.
“Please, accept the Distinguished Senate President, the assurances of my highest consideration and personal regards.”
Tinubu had on August 23, swornin Kekere-Ekun as acting CJN and he administered the oath of office on her.
The President’s decision to swear in Kekere-Ekun was then condemned by a former governor of Cross River State, Donald Duke who had said Tinubu erred in law to have done that without the Senate approval.
However, the Senate through the Chairman, Senate Committee on Judiciary, Human Rights and Legal Matters, Senator Adeniyi Adegbonmire, had said the President’s action was in order.
Adegbonmire, a Senior Advocate of Nigeria (SAN), told THISDAY then that Duke was totally wrong on the matter, saying, “An acting CJN can only act for three months.”
Meanwhile, Tinubu has requested the House of Representatives approval of additional Supplementary Budget Proposal to the 2024 Statutory Appropriation for the FCTA.
In a letter to the House dated September 19, 2024, the President said this request was in accordance with the provisions of Section 121 of the Constitution of the Federal Republic of Nigeria.
He said the proposal was prepared on the basis of the FCTA's reviewed revenue and expenditure forecasts and is aligned with the fiscal and developmental policies of the federal government and the Renewed Hope Agenda.
The letter, which did not specify any sum, was read by the Speaker Tajudeen Abbas during resumption of plenary yesterday.
It read, "I write in accordance with the provisions of Section 121 of the Constitution of the Federal Republic of Nigeria, to forward herewith an additional Supplementary Budget Proposal for the FCTA for consideration and passage by the House of the Representatives.
The N1 billion worth of food items was made up of flour, pasta, sugar, rice, and other essential commodities. These would be distributed to the hardest-hit areas to provide immediate relief.
In addition, a N1 billion cash donation was presented to the state government through the governor to ensure that aid reaches those in need as swiftly as possible.
Rabiu, through the philanthropic arm of his company, the BUA Foundation, and his philanthropy, the ASR Africa, has continuously demonstrated his commitment to supporting communities across Nigeria and Africa at large, particularly during crises.
This latest contribution, according to the statement, was part of a broader effort to support recovery and rebuilding efforts across flood-affected regions in the country.
goal - to safeguard the essential economic functions of producing, distributing, and consuming goods and services.
The administration of President Bola Tinubu was traversing significant fiscal challenges, intensified by the dual issues of insecurity and limited resources that hinder our efforts to reverse economic decline.
The DG Budget Office said the economy was under immense pressure from various directions including a volatile global market, suppressed oil revenues, rising debt servicing costs, and threatened primary production processes.
He said, "In light of these pressing challenges, it has never been more critical for us to ensure that our budget is both focused and efficient.
"We are faced with tough decisions, and the resources available to us must be strategically allocated.
"Our priorities must center on enhancing security to foster capital accumulation, meeting investor expectations without bias, and empowering our citizens through effective mobilization and efficient deployment of development resources."
He said in light of the challenges the country faces, Tinubu remained resolutely committed to restoring the authority of the federal government wherever it is under threat.
"His administration is dedicated to mobilising resources to expand our economy while prioritizing the development of our vast human capital.
"We are committed to implementing reforms that promote efficient resource allocation, address multidimensional poverty, and enhance our infrastructure to reduce the cost of doing business in our country.
"Achieving these ambitious goals requires the full cooperation of all stakeholders involved in the budget process."
Yakubu, therefore, urged MDAs to collaborate in navigating these challenging times.
He said, "The journey ahead may demand sacrifices, but I am confident that, together, we can forge a path that benefits all Nigerians.
"Collaboration and synergy among the various Ministries, Departments, and Agencies (MDAs) are essential to our success.
"We must align our sectoral policies and programs with the Renewed Hope Agenda, which serves as a foundational strategy for realizing the National Development Plan.
"This unified approach will ensure that our efforts are synchronised and that resources are effectively mobilised to repair, upgrade, and expand our infrastructure across the nation."
According to him, the GIFMIS Budget Preparation Subsystem Training Session provides an invaluable opportunity to acquire the tools and knowledge necessary to enhance our budgetary processes. The technology-driven system is designed to improve efficiency, eliminate bottlenecks, and promote accountability.
The Founder of the Tony Elumelu Foundation (TEF), Mr. Tony Elumelu, hosted a reception with the Executive Director of the World Food Programme (WFP), Cindy McCain, to highlight youth unemployment and hunger in Africa.
The meeting was held on the sidelines of the 79th United Nations General Assembly meetings, in New York City.
According to a statement, the gathering convened philanthropists, entrepreneurs, change makers, policymakers and global leaders.
The dialogue centred on two pressing themes, fundamental to Africa’s transformation: providing a lasting solution to hunger and the transformative potential of entrepreneurship to eradicate poverty on the continent.
With over 7,500 of Tony Elumelu Foundation entrepreneurs drawn
from the food sector, the link between sustainable access to food and entrepreneurship was clear.
The event was also an opportunity for WFP, once again, to highlight the “forgotten” humanitarian emergencies ongoing in Africa, including Sudan and the DRC, where WFP is delivering in the most challenging of environments.
McCain detailed WFP’s efforts to mitigate hunger in global conflict zones, including Sudan, Gaza, and Ukraine.
Both McCain and Elumelu underlined the urgency and the need for novel approaches, going beyond short-term fixes, and creating sustainable, empowering solutions.
Hunger in Africa is often a direct consequence of climate change and Elumelu reiterated the need for an equitable approach to climate and sustainable energy across Africa.
The event also served to introduce WFP’s exclusive philanthropic initiative, spearheaded by McCain, which aims to unite global leaders in the pursuit of Zero Hunger.
“We are at a pivotal moment where global hunger has reached alarming levels, fuelled by conflict, economic instability, and the climate crisis. WFP is supporting communities in need across the globe, but we cannot do it alone.
“Political and private sector leaders must step up now. We need bold action and innovative partnerships to turn the rising tide of humanitarian needs. If we all join hands in the fight against hunger, we can achieve our shared ambition of a better future for all,” said McCain.
Elumelu spoke of the vital role entrepreneurship plays in fostering stability, growth and purpose.
Oghenevwede Ohwovoriole in Abuja
The MTN Nigeria Foundation has awarded 13,717 scholarships to 4,949 Nigerian students in 13 years, according to the Foundation Director, Mrs. Aishatu Sadauki, Sadauki, disclosed this at an award ceremony and alumni induction organised by the foundation for scholars yesterday.
She said, "Over the last 13 years, we have awarded 13,717 scholarships to 4,949 students.
"Today, we are graduating 380 scholars whose achievements are not only a reflection of their potential, but also a contribution to the development of our great nation and beyond.
"They have surpassed our expectations by remaining steadfast and dedicated to excellence. Please let's give them a round of applause.
"To our current scholars, you have shown that obstacles are not roadblocks but detours that lead to greatness. You are now torchbearers and older siblings.
"Learn from our outgoing scholars and lend a helping hand to our incoming scholars. Remember, our Y'ello family believes in you and your ability to make a difference in the world around you."
She told the scholars that, "education was a powerful tool that shapes minds, fosters innovation and drives societal change," and advised them to take advantage of this initiative to build meaningful connections and gain the knowledge and skills they need to rise and give back to the society.
Quoting Margaret Mead, she said: "Never doubt that a small group of thoughtful, committed individuals can change the world. Indeed, it is the only thing that ever has."
MTN, she stated was driven by this thought for the last 18 years, adding that every individual, irrespective of their background or socio-economic status could be a trailblazer, problem-solver, and a visionary.
In his goodwill message, the Registrar, Joint Admissions and Matriculation Board (JAMB), Prof. Is-haq Oloyede, said such initiatives were critical in fostering individual brilliance and ensuring that persons with disabilities are not left behind.
Oloyede, who was represented by the Head of Disability Support Unit JAMB, Basirat Agbabiaka, highlighted JAMB's shared commitment to providing access to higher education for all Nigerian scholars, regardless of their background or circumstances.
He emphasised JAMB's creation of the Equal Opportunity Group in 2017 to ensure that persons with disabilities (PWDs) have equal chances to participate in the UTME and gain access to higher education.
He noted that the scholarship programmes had become a beacon of hope for many Nigerian students, contributing to educational advancement across the nation.
He lauded the Foundation for its continuous investment in youth education and development.
Oloyede, also noted that the partnership between JAMB and MTN, was exemplified by the
power of collaboration in driving societal progress.
"We are proud to associate with MTN Nigeria Foundation in this noble endeavour. Your dedication to
empowering young minds through scholarships is commendable and creates a ripple effect of inspiration and hope," he said.
One of the beneficiaries, Faith
Osemeke, a student of University of Nigeria, Nsukka (UNN), expressed happiness and applauded the foundation for the initiative.
The scholarship program covered
students particularly in science and technology, as well as inclusion of blind students and the top 10 Unified Tertiary Matriculation Examination (UTME) candidates.
Sunday Aborisade in Abuja
President Bola Tinubu yesterday rejected a bill seeking to increase the retirement age of civil servants working in the National Assembly by an additional five years.
Tinubu’s decision not to withhold his assent to the bill was contained in a letter read by Senate President, Godswill Akpabio on the floor during plenary.
The President did not give reasons for his decision. The Senate had thrown out the bill after a heated debate.
However, the Red Chamber changed its mind later and concurred with a similar bill passed by the House of Representatives.
The bill is seeking to increase the retirement age to 65 years or 40 years of service, whichever comes first.
The existing law prescribes 60 years of age or 35 years of service for retirement.
Tinubu commended the Senate for the “diligent work,” it put into drafting and passing the bill.
Part of the President’s letter read, “I write in respect of the harmonised
Sunday Aborisade in Abuja Senate President Godswill Akpabio yesterday sought the understanding of Nigerians over the current economic challenges occasioned by rising cost of living and an unpredictable market.
He stated this in his speech while welcoming lawmakers from their seven-week vacation.
He said the struggles of Nigerians were not lost in the National Assembly.
He added that it was the sacred duty of lawmakers “as your earnest representatives, to respond with urgency and compassion.”
Akpabio said, “The recent break was an opportunity for us to connect with the heartbeat of your constituents, instilling in them the
belief that brighter days lie ahead.
“In the past three months, we have witnessed a myriad of significant developments - both trials and triumphs - that demand our immediate attention and resolute action.
“In the face of rising economic pressures, our fellow citizens have been grappling with the harsh realities of inflation, soaring living costs, and an unpredictable market.
“These challenges have tested the very fabric of our society, and I stand here today to express our deepest empathy for every Nigerian who bears the burden of these trying times.
“Your struggles are not lost on us; it is our sacred duty, as your earnest representatives, to respond with urgency and compassion.”
Akpabio however observed that amid the trials, the country
has also witnessed commendable strides in various sectors, “thanks to the Executive Arm led by His Excellency President Bola Tinubu.”
“Our agricultural initiatives are beginning to bear fruit, and the strides made in infrastructure development are paving the way for a brighter future.
“However, these hard-won gains must not overshadow the pressing issues that still loom large before us.
“We must prioritise the security of our nation, ensuring that every citizen can walk down any street in this country without fear.
“The recent surge in insecurity, particularly in various regions, is a clarion call for us to double our efforts in crafting laws and taking decisive actions to safeguard our communities.”
retirement age for legislative officers of the National Assembly of the Federal Republic of Nigeria bill passed by the national assembly and forwarded to me for assent.
“Upon thorough examination and careful consultation, I have decided
to withhold my assent to the bill.
“This decision is made in accordance with the powers vested in me by the constitution of the Federal Republic of Nigeria.
“However, I trust that this decision would be received with understanding
and acceptance.
“I write in respect of the harmonised retirement age for legislative officers of the National Assembly of the Federal Republic of Nigeria bill passed by the national assembly and forwarded to me for assent.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, representatives of the African Development Bank (AfDB) and other key stakeholders, yesterday held a high-level meeting to accelerate the implementation of the National Agricultural Growth Scheme - Agro-Pocket (NAGS-AP).
The NAGS-AP initiative was designed to stimulate increased productivity and higher yields among farmers, ensuring a significant impact
on food production and agricultural growth across the country.
The meeting, which was held in Abuja, brought together representatives from the Federal Ministry of Agriculture and Rural Development, Flour Mills of Nigeria, and the African Development Bank (AfDB) to discuss strategies for driving immediate results.
At the meeting, Edun emphasised the critical need for an efficient input system during the dry season, particularly stressing the importance of high-quality, adaptable seeds in achieving optimal yields.
The NAGS-AP team provided comprehensive updates on their day-to-day implementation strategies and presented a finalised work plan for the 2024/2025 dry season.
In a statement, the Director, Information and Public Relations, Ministry of Finance, Mohammed Manga said the programme was poised to transform Nigeria's agricultural landscape, adding that the meeting marked a significant step towards ensuring food security and economic growth in line with the policy thrust of the present administration
Shettima canvasses enhanced international cooperation
Nigeria has stressed its commitment to fostering stronger international partnership and deepening relations with member states of the Organisation of African, Caribbean and Pacific States (OACPS).
The move was made on the sidelines of the 79th Session of the United Nations General Assembly.
Vice President Kashim Shettima who is representing President Bola Tinubu at the ongoing global event stated this at a high-level OACPS meeting chaired by Angola.
Reiterating the importance of solidarity among member states in the face of numerous global challenges, Shettima emphasised Nigeria's commitment to the
organisation's goals, while addressing pressing national concerns.
His words "Nigeria remains a principal partner of OACPS, championing our shared values of democracy, diaspora engagement, and development.
"Our presence here at the UN General Assembly allows us to amplify these priorities on the global stage and explore avenues for deeper collaboration."
The vice president used the opportunity to address Nigeria's recent inclusion on a high-risk jurisdiction list for anti-money laundering concerns, saying "We're here to set the record straight and engage in constructive dialogue with our international partners."
Shettima reaffirmed Nigeria's
support for OACPS initiatives, including the organisation's focus on Haiti's ongoing crisis. While acknowledging Kenya's contribution of 400 troops to Haiti, he highlighted Nigeria's historical role in SouthSouth cooperation. "Our technical aid corps programme, which has sent teachers and doctors to the Caribbean, exemplifies Nigeria's commitment to uplifting fellow OACPS nations," the Vice President added.
Shettima outlined Nigeria's strategy to leverage its position as Africa's most populous nation to advocate for OACPS interests, promote fair treatment in international financial systems, and strengthen ties with both developing and developed nations.
Michael Olugbode in abuja
Barely 16 months after he was arrested and convicted for ingesting 93 pellets of cocaine, a 48-year-old businessman, Christian Ogbuji, has been intercepted by operatives of the National Drug Law Enforcement Agency (NDLEA) at the Murtala Muhammed International Airport, Lagos for importing 817 wraps of the same Class A drug weighing 19.4 kilogrammes with an estimated street value of over N4.6 billion.
According to a statement issued by the spokesperson of
the anti-narcotics agency, Femi Babafemi, Ogbuji was first arrested at the Nnamdi Azikiwe International Airport, Abuja, on May 10, 2023, upon arrival from Uganda via Addis Ababa, onboard Ethiopian Airlines flight ET 951 for ingesting 93 pellets of cocaine with a gross weight of 1.986 kilogrammes. He was subsequently arraigned before Federal High Court 12 Abuja presided over by Hon. Justice Mobolaji Olajuwon in charge no: FHC/ABJ/CR/192/2023 and convicted on 13th July 2023. Ogbuji was sentenced to two years imprisonment with an
Blessing Ibunge in port Harcourt
The Action Peoples Party (APP) in Rivers State, yesterday, commenced their campaign at the Zonal districts level ahead of the October 5, 2024 Local Government Areas(LGA) election in the state.
Most of the contestants for the LGAs election who are contesting on the platform of APP were PDP members who left the party following the misunderstanding between the State Governor, Siminalayi Fubara and his godfather, Nyesom Wike, the Minister of the Federal Capital Territory (FCT).
Recently, Wike presided over the congress that ushered in the new executive members of the PDP in the state, while Governor Fubara and his supporters were absent at the election held at the party Secretariat on Aba Road, Port Harcourt.
The Fubara supporters, who believe that since the leadership
of the PDP in the state is not in agreement with the governor, and for them to participate in the planned poll fixed for next week, they need to identify with other political party.
There was also yet to be confirmed information that the governor is itching to join the APP to remain relevant in politics, since the national leadership of the PDP could not fix the crisis rocking the party structure in the state.
option of paying a fine of N3 million, which he paid and was set free.
Babafemi said Ogbuji on the court order also forfeited the seized 1.986 kilogrammes cocaine, his international passport, 14
US dollars and 9000 Uganda shillings found on him at the time of his arrest.
The spokesman said: “Not done with crime, Ogbuji was again arrested at the Lagos airport on September 18, 2024
during an inward clearance of Ethiopian Airlines flight passengers from Addis Ababa to Lagos.
The suspect had approached the joint examination table with a black travelling bag which was
searched by an NDLEA operative who cleared the luggage. In a dubious move, Ogbuji sneaked back to the carousel area to put inside the cleared bag a black backpack he left on the conveyor’s belt.
A criminologist, Prof. Etannibi Alemika, has said the performance of the police in the country will be better enhanced if the federal government provides the needed funding for training and procurement of modern tools.
Alemika, who is the Chairman, Board of Trustees of the Nigeria
Society for Criminology (NSC), said this while speaking on “Policing and Police in an Anomic Society”, at the second international conference of the society, stating that there is chaos and strain in the country due to the erosion of cherished cultural values.
According to the foremost criminologist, police and policing in Nigeria is dependent on adequate
Facing a common challenge of climate change, which has led to extreme weather conditions and impacted people’s lives, the Nigerian Meteorological Agency (NiMet) and the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) are to partner to reduce the impact on people. This was the highlight of
government funding of the policing institution and socio-economic as well as political factors. “What is responsible for the erosion of values is the limitless aspirations of humans. We should see Police and policing as dependent variables. Socioeconomic and political factors, including the inability of the government to provide funding to equip the police are the independent variables,” he said. All these were contained in the conference communique of the NSC. In their own paper titled, “The clamour for state police in Nigeria : The arguments, the fallacies and the way forward”, Prof. Sadiq Isah Radda and Abdulmajeed Ahmed, argued that there was no doubt that Nigeria needs alternative policing strategy.
the discussions when the Director General and Chief Executive Officer of the Nigerian Meteorological Agency (NiMet) and Permanent Representative of Nigeria with World Meteorological Organization (WMO), Prof. Charles Anosike, paid a courtesy visit to the Director General of NAPTIP, Binta L. Adamu Bello in Abuja yesterday.
Speaking during the visit, Prof. Anosike congratulated the NAPTIP DG on her appointment.
He said: “It is important to have a leader who has a listening ear to understand the impact of climate change. Climate change affects all aspects of our lives. We are seeing the increasing effect of extreme weather events and the impact of climate change.
“When climate disaster strikes,
it dislocates people and throws them into poverty. People are made to migrate. It is important for us to invest in preparedness to ensure everyone is protected by early warnings of climate disaster.”
According to Anosike, There’s a nexus between climate change and human trafficking. That is why we need to establish this partnership with NAPTIP.
Emma Okonji
IHS Towers, a telecoms infrastructure provider, in collaboration with Limitless Space Institute (LSI) of the United States of America, has trained ten Nigerian secondary teachers selected from public schools across the country on Science, Technology, Engineering
and Mathematics (STEM), with insight in space technology.
Showcasing the teachers yesterday during a global educators’ programme organised jointly by IHS and LSI in Lagos, Executive Director at LSI, Kaci Heinz, said over 200 teachers applied for the training programme, but ten were shortlisted from different public
Segun Awofadeji in Gombe
The ongoing strikes by the Academic Staff Union of Universities (ASUU) and Non-Academic Staff Union of Educational and Associated Institutions (NASU), Gombe State University chapter, have brought academic activities to a grinding halt at the institution.
Worried by the school closure, the Civil Society Action Committee on Education For All (CSACEFA), a non-governmental organisation advocating for
quality education, has called on the state government, ASUU and NASU to engage in dialogue.
ASUU declared an indefinite strike two weeks ago, citing the non-implementation of the N30,000 minimum wage, underfunding of the university, and non-payment of accumulated earned allowances.
NASU joined the strike last Monday with a one-week warning strike over similar issues.
Speaking with journalists
yesterday, CSACEFA’s Gombe State Coordinator, Abubakar Abdullahi Hussain, emphasised the urgent need for dialogue, stating that the strikes have left students idle and roaming the streets.
According to him, the strikes have severe implications on students and society, affecting academic performance, social stability, and economic growth.
He added that the academic calendar already disrupted, adding that finding a swift resolution is crucial.
Akwa Ibom State Governor, Mr. Umo Eno, has said that he was voted into power because the people of the state believe in continuity.
He said: “Because you (my people) believe in continuity, last year, you massively voted me to be your governor so that I may continue the trajectory of growth and development that my predecessors had so passionately and painstakingly started.
“You bought into our vision of the Arise Agenda, and gave me your support to implement this impactful blueprint.
“Today, I am proud to state that nearly one and half years since we came in, the fundamentals of our growth are rock-solid.” The governor made the assertion in a broadcast to mark the 37th anniversary of the creation of the state.
He posited that his administration “intentionally decided to grow our people, fight poverty, touch and improve the quality of lives in the rural areas, strengthen our crime fighting capabilities, improve the quality of education and healthcare delivery at the primary levels, maintain further the peace and security we have enjoyed, and expand while maintaining our
infrastructural amenities.
“Since this current dispensation came on board, Akwa Ibom State has continued to witness a steady growth across sectors.
“Our father, Obong Victor Attah, laid the foundation for our growth, the Senate President, Senator Godswill Akpabio, came with the determination to transform the state through infrastructure, and the immediate-past Governor, Udom Emmanuel, decided to apply corporate approach to management by expanding the infrastructural base and looking beyond the immediacy to establish such legacy projects as Ibom Air.”
David-Chyddy Eleke in awka
Flood occasioned by torrential rainfall last Monday night sacked over a dozen family from their residence in Ngozika Estate, Awka, the capital city of Anambra State.
Anambra State had initially been named as one of the states to suffer flooding this year, but specific local government areas have been identified to be prone to flood, and residents of those
areas have been alerted to leave to places that are deemed safer, while IDP camps have been set up for the indigent among them.
Ngozika Estate is considered to be a highbrow residential area in Awka, and well away from local government areas that have been listed to be prone to flood, but last Monday, there was wailing among residents as flood water over ran many compounds in the state.
Most of the families sacked
by the flood water are currently squatting with friends and family in safe area, while the rich among them have relocated to hotels, just as the estate is known to be the choice area of for the state privileged individuals.
A resident of the area, Mrs. Joy Udoka, told THISDAY that: “We have moved out of our home into a hotel. Everything we own have been submerged by flood, and we are currently homeless.
schools across Nigeria to join other ten teachers shortlisted from Brazil to attend the 12 months training session through its Global Educators Programme. According to her, the selected teachers from Nigeria had six months training in Houston, Texas in the USA, and they
will train for the remaining six months in Nigeria, which will run till December 2024.
Her words: “Limitless Space Institute is based in Houston, Texas in the United States of America and we are focused on training secondary school teachers across the globe in STEM education, from the perspective of space technology education and we are collaborating with IHS Nigeria to train Nigerian teachers, that will in turn impact the knowledge in their students who are interested in building their educational careers around STEM education.
Email: deji.elumoye@thisdaylive.com
Raheem Akingbolu writes on the cat and mouse drama between the Economic and Financial Crimes Commission and a former Governor of Kogi State, alhaji Yahaya Bello.
Perhaps the most celebrated story on various media platforms, including social media in the last five months or thereabout has been around the inability of the Economic and Financial Crimes Commission (EFCC) to arrest the immediate past governor of Kogi State, Alhaji Yahaya Bello. But like the Yoruba folktale about tortoise and snail; the initial shame is for the tortoise; the subsequent ones are for its in-law, Yahaya the accused is little by little being turned into a hero.
In this ongoing scenario, Bello is the tortoise but EFCC’s manner of handling the issue has made a mockery of its operations.
To start with, it’s no more news that the anti-graft agency had declared as soon as Bello left office that he had questions to answer for offences relating to economic and financial crimes. Everyday, from time to time, the commission was updating Nigerians on efforts being made to get the former governor into its net. At the peak of what looked like a cat and mouse game, EFCC declared the former governor wanted.
In a notice posted on the commission’s official Facebook page sometime in April, 2024, Bello was declared wanted by the commission in connection with the alleged case of Money Laundering to the tune of N80,246,470,089.88.
As the narrative about the ‘invisible’ Bello was going on, the commission was at the same time profiling the current Governor, Usman Ododo as the one creating a security barricade around Bello. The more the blame game continued, the more Nigerians got tired of the drama.
Unfortunately, the drama has suddenly become an anti-climax for EFCC and other stakeholders. By extension, the Yahaya Bello versus EFCC duel has relegated war against corruption to nothing but abracadabra. For the commission, the ongoing scenario has become a litmus test with which members of the public are now rating the agency.
Until last week when EFCC put up a very weak argument to support its inability to arrest Bello, when the former
walked into the commission’s head office in Abuja, it was still within the realm of speculation that EFCC was playing politics with the issue. But when an accused person that had been sensationally declared wanted unsolicitedly presented himself and instead of arresting and taking him to court for prosecution, he was allowed to walk away, Nigerians drew their conclusions. Instead of the agency covering its face in shame, officers were again mobilized to go and flex their muscles at Bello’s home, firing gunshots and causing unnecessary unrest. To many observers, the show of shame is like a macarena dance in the marketplace.
When the news spread that the suspect that was declared wanted four months ago, voluntarily walked into EFCC office but he was not attended to, EFCC found its voice again and gave some incoherent reasons. Though it admitted that the former governor indeed showed up at its office but was not interrogated, it followed this up with some puerile reasons. The agency was said to have let Bello go because its Chairman rejected the method of reporting
to the commission. Upon realising that Bello came with the governor and some dignitaries, a source within the agency said the Executive Chairman directed that no official should attend to him.
Bello’s manner of coming to EFCC was dismissed as a breach of its protocol. According to the agency, no Nigerian, no matter how highly placed, was expected to come for an invitation in a convoy of vehicles and with a sitting governor. To this end, the agency pointed out that Bello came with grandeur which is contrary to its procedures.
The excuses by EFCC have simply given the agency away as being inconsistent in its operations. Trust Nigerians, the development has woken them up to dig into the past and bring out facts to counter this latest position.
On October 16, 2018, when former Governor of Ekiti state, Ayodele Fayose reported at the EFCC office in Wuse, Abuja, the current FCT Minister, Nyesom Wike and others were with him. Yet, he was taken into custody and detained. Also, in 2014, when the DSS invited the former FCT Minister, Nasir El-Rufai, Rotimi Amaechi who was then Governor of Rivers State and Chris Ngige, a serving Senator then were among those who accompanied him.
Few years later, EFCC under Ola Olukoyede is telling Nigerians that because a governor accompanied Yahaya Bello to
What is the motive of EFCC keeping a suspect who came on his own volition and refused to take him in - interrogate him, detain him and to take him to court? Of course, the EFCC also has the power to take his statement in the presence of his lawyers and grant him administrative bail pending arraignment. Since the case is coming up this week the EFCC can take Bello’s statement, grant him administrative bail and ask him to come back.
the EFCC headquarters in Abuja, they let him leave, only to invade the Kogi State Govt House in Asokoro, Abuja, in the night, shooting sporadically, looking for the same Yahaya Bello. What an irony?
Contrary to the agency’s position, a credible source has confirmed that when Bello arrived at the EFCC headquarters, Olukoyede was not on seat and he could not be reached on the phone. His men were confused because necessary action could not be taken against Bello since the buck stops on the Chairman’s table. This explains why Bello and Governor Ododo waited for more than three hours but they were not attended to.
When Olukoyede finally arrived at the commission, he was said to have directed some officials to meet Bello and ask him to return to the EFCC.
When the officials met Bello and Governor Ododo at the Kogi Governor’s Lodge at Asokoro, Bello was said to have asked the officials what was the point of asking him to return to the EFCC when while he was there for more than there hours, the officials did not attend to him. That was what led to the shootouts at the lodge.
The question is still pending; what is the motive of EFCC keeping a suspect who came on his own volition and refused to take him in - interrogate him, detain him and to take him to court? Of course, the EFCC also has the power to take his statement in the presence of his lawyers and grant him administrative bail pending arraignment. Since the case is coming up this week the EFCC can take Bello’s statement, grant him administrative bail and ask him to come back.
The commission can thereafter detain him and take him to court on the appointed day since charges had been filed and Justice Emeka Nwite had adjourned the matter accordingly.
As things stand, the position of many Nigerians is that the EFCC has failed and made a mockery of the anti-corruption fight. Among other flaws, the propaganda, politicization of process and sensational media trial were all ill-intentioned and unnecessary.
In Nigeria, widows face numerous challenges, from social stigma to economic hardship. However, one organisation, the Fanibe Oluremi Initiative (FOI), is working tirelessly to change this narrative. Writes Mary Nnah
The loss of a husband can be a devastating blow, leaving women to care for their children alone and navigate a society that often discriminates against them. However, one organisation, the Fanibe Oluremi Initiative (FOI), is dedicated to transforming the lives of widows, working relentlessly to shift the narrative and create a brighter future.
FOI's recent Widow Support Programme, held recently at the Alimosho Local Government Council Hall, Lagos, brought together over 50 widows, providing them with financial support, encouragement, and a sense of community.
Mrs. Bolanle Ogunade, a widow who attended the programme, shared her story of resilience and determination. Despite facing numerous challenges, including family disputes and societal pressures, she has managed to raise her children and build a successful business.
Her advice to fellow widows? "They should take care of their children and face their businesses. They should not rely on any man. I didn't say they should not remarry, but they should be very careful. Some men outside there will raid a hardworking widow to the last."
Mrs. Ogunade's personal experience as a widow has been tough. Her husband passed away when she was in her 50s, leaving her to care for their children alone. Despite the challenges, she has learned to be independent and self-sufficient.
"I don't need a man to take care of me," she said. "I have already got a daughter who is married. My advice to widows is that they should face their work and face their children. I know God will bless them."
The Coordinator of FOI, Mrs. Oluremi Fanibe, was inspired to start the initiative after witnessing the struggles of widows
in her community. "I've seen widows in critical conditions, struggling for food and shelter," she said. "I wanted to make a difference." With a passion for empowering widows, FOI has been supporting them for 25 years, providing financial assistance, counseling, and skills training. Fanibe shared the success stories from previous programmes, highlighting the impact of their work. "Many times, widows come to me and say that whatever they have received at our occasion is the only
money they have. They came without nothing. So many times, they have done that."
She also emphasised the importance of interaction and inspiration among the widows. "It gives them the opportunity to interact, and I'm so happy with that. Some women will come up with ideas. Don't go and be doing prostitution. Face your children. You will enjoy later."
FOI's recent program was a demonstration of its commitment to empowering widows.
50 widows received N10,000 each, a gesture that brought joy and relief to their faces.
One widow, who received the financial
support, was overwhelmed with gratitude, praying and thanking God for the unexpected blessing.
Another widow, who has benefited from FOI's program, has seen her children become doctors and accountants, proof of the life-changing power of empowerment and support.
Mrs. Fanibe emphasised the need for government support to scale their impact. "We should try and agitate for some policies on widows in Nigeria. So when they come up with policies, we will be able to make input into it to say widows should be given this, and their children should be given support, medical facilities, and so on."
She also highlighted the challenges faced by the girl child, including lack of access to education and employment opportunities.
Damilare Kuku, a writer and big supporter of the initiative, described the programme as amazing. "I think that helping people during this time in Nigeria is such a heroic act. I love it. It's really nice."
Her advice to the women was: "A woman should have her own work. I think that's what is important. Love is important but God, first and then your career, because you need to look out for yourself. If you have to be a mother, the last thing you want to do is not be able to take care of your children. Work hard. Pray hard, and if you fall in love again, great. If you don't, love yourself. Take care of yourself. Your mental health is very important. Widows deserve to be happy, and I think it's amazing what FOI is doing right now."
As FOI continues to make a difference in the lives of widows in Nigeria, the message is clear: widows deserve to be happy, empowered, and supported. With initiatives like FOI leading the way, there is hope for a brighter future for these remarkable women.
Fresh out of university, Mahmood Owolabi’s career took flight during the e-commerce boom in Nigeria, where he worked with a rising tech startup. As a co-founder of EdTech platforms, a disruptive Transition School, Owolabi has made a career out of doing the impossible. Precious Ugwuzor writes on his quest to train, mentor, and empower the next wave of tech talent ready to take on the world
Mahmood Owolabi is proof that persistence defines success. From navigating the hurdles of the UK’s rigid job market to cofounding one of the most disruptive EdTech platforms, Transition School, Owolabi has made a career out of doing the impossible.
Owolabi’s journey is a masterclass in defying odds and shattering glass ceilings. After overcoming a major barrier, he’s now rewriting the rules of career transitions for an entire generation of African professionals.
At a time when African talents are gaining unprecedented global attention, Owolabi is leading the charge, proving that the future of work is borderless. His mission? To train, mentor, and empower the next wave of tech talent ready to take on the world.
A Humble Beginning with Big Dreams
Fresh out of university, Owolabi’s career took flight during the e-commerce boom in Nigeria, where he worked with a rising tech startup. The experience was a formative one, sparking a lifelong curiosity about consumer behaviour and the “why” behind purchasing decisions.
“Witnessing the creation and engineering of platforms that attracted and retained customers sparked my deep fascination,” he tells Business Elites Africa.
It didn’t take long for Owolabi to translate that fascination into a career focused on marketing and consumer engagement, working with major brands like Airtel, Sterling Bank, Flutterwave, and Unilever.
His early career experiences laid a foundation for what would become a driving force in his professional life—understanding how to harness the power of marketing to build and scale tech businesses.
The Turning Point Owolabi’s decision to relocate to the United Kingdom was a pivotal moment in his career. The UK, with its sophisticated tech market, seemed like the perfect place to further his ambitions. But it wasn’t the seamless transition he had imagined.
“I found it difficult to transfer my experience into the UK job market, which often emphasises ‘UK experience’,” he admits. This challenge is one that many international professionals face, and for Owolabi, it was a stark reminder of how certain job markets can be closed off to outsiders, regardless of their qualifications.
Instead of succumbing to frustration, Owolabi saw this as an opportunity for problem solving. He began documenting every step he took to secure job interviews, perform well in them, and eventually land offers. It worked. His first role at a tech startup in Wembley, North London, was the breakthrough he needed.
After updating his LinkedIn profile with this success, he was surprised by the flood of inquiries from friends and acquaintances—many of them fellow Nigerians—who were struggling with the same issue of transferring African work experience into the UK market. “It became clear that I wasn’t alone in facing this challenge,” Owolabi notes. His ability to navigate the UK job market became a valuable asset to others.
With his problem-solving instincts in full gear, Owolabi began offering career coaching to peers facing similar
struggles. What he discovered was a critical gap in the market: while some African professionals could transition their skills to the UK job market, a significant portion – about 70% of those he mentored – could not.
“Their skills weren’t in high demand,” Owolabi recalls. This was particularly true for those not in tech-related fields, where job opportunities were abundant.
Recognising this need, Owolabi saw potential in the EdTech space. “This realisation highlighted the potential in the EdTech sector, and I saw an opportunity to be part of the renaissance of training people to fit into corporate roles,” he explains.
Teaming up with a software engineer, Yomi Omotosho, who was already working on similar challenges, the duo cofounded Transition School, an EdTech platform designed to help individuals transition into tech roles. The program offers six weeks of intense training, live project experience, and job readiness support.
Building Success
Owolabi attributes much of his success to a mindset grounded in continuous improvement. “Determination, continuous self-improvement, and surrounding myself with like-minded individuals have been critical,” he says.
His guiding philosophy—“Nobody is coming to save you” and “How bad do you want it”—keeps him focused on constant growth. Whether it’s upskilling himself or mentoring others, Owolabi’s commitment to self-improvement has been a core driver of Transition School’s growth, which has been achieved without external funding.
The school has trained over 100 students and counting, equipping them with the skills needed to thrive in tech roles globally. This success is built on Owolabi’s belief that true wealth isn’t just measured in financial terms but in the impact one has on others.
“I define wealth as impact,” he asserts. For him, wealth is about influence, education, and innovation—factors that create lasting legacies. It’s this definition of wealth that guides his work at Transition School, where he sees the potential to change lives through education and mentorship.
His vision for Transition School is clear: to be the pipeline for the tech talent that will drive Africa’s continued growth…We aim to train individuals not just to meet the demands of their local economy but to become professionals capable of working globally
Empowering Africa’s Workforce
Owolabi is quick to point out that while the world’s perception of Africa is changing, there’s still a lot of untapped potential across the continent. “I used to call Africa a virgin territory, but that’s rapidly changing,” he says.
African entrepreneurs are leading this change, harnessing the continent’s most valuable resource—its people. Owolabi believes that as more entrepreneurs invest in education and skill-building, the continent will continue to rise as a global force.
“Thousands of jobs have been created, hundreds of thousands of lives have been touched, billions of revenue have been generated, and more investment is flowing into the continent like never before,” he observes.
His vision for Transition School is clear: to be the pipeline for the tech talent that will drive Africa’s continued growth. With increasing investments in various sectors, there’s a growing need to empower the workforce with the right skills.
“We aim to train individuals not just to meet the demands of their local economy but to become professionals capable of working globally,” Owolabi says.
Think Globally, Act with Purpose
For the next generation of African entrepreneurs and leaders, Owolabi’s advice is simple but powerful: think globally. “Do not limit your horizon to the continent,” he urges. He sees enormous potential in stepping out of comfort zones and embracing the global stage, reminding future leaders that they are valuable players in a global ecosystem.
Regional Sales Manager, Southern Region, DAG Bajaj Nigeria, Vishwesh Puranik; Profit Centre Head Nigeria, 2 Wheelers Sales, Simba Group Nigeria, Ritesh Nair; Managing Director/CEO, Enviable Transport Limited, Mr. Chukwuemeka Ituma; Special Guest, Chief Paul Onuoha; 2 Wheelers Business Head, DAG Bajaj Nigeria, Sijesh Radhakrishnan; and Chairman, Enviable Transport Limited, Dr. Obinna Iyiegbu (Obi Cubana), at the official unveiling of Enviable Transport 2-3 Wheelers CNG convertible tricycle showroom in Ikorodu, Lagos...recently
Kayode Tokede
Despite the Monetary Policy Rate (MPR) remaining flat at 26.75 per cent between July and August 2024 (currently 27.25 per cent), the Nigeria’s banking sector average prime lending rate increased to 17.01 per cent in August 2024, the highest since April 2019.
According to data leased by the Central Bank of Nigeria (CBN), average prime lending rate was at 18.23 per cent April 2019 when MPR was at 13.50 per cent.
The prime-lending rate indicates the possible rate offered to the most credit worthy customers by Nigerian banks.
Prime lending stood at 15.89 per cent in July 2024 from 15.85 per cent for June 2024; it reached an all-time high of 19.66 per cent in November 2009 and a record low of 11.130 per cent in March 2021.
The CBN, under Mr. Yemi Cardoso, has increased the MPR for the fifth time to combat inflation and foster economic stability.
The first hike increased the rate from 18.75 per cent to 22.75 per cent, the second to 24.75 per cent, the third to 26.25 per cent, the fourth to 26.75 per cent and recently 27.25 per cent in the September 2024 Monetary Policy Committee (MPC) meeting.
These increases, totalling 850 basis points since Cardoso’s appointment, have been driven by efforts to tackle the country’s persistent inflation challenges, which include high core and food inflation.
An investigation by THISDAY showed that Wema Bank Plc, followed by Signature Bank, Keystone Bank Limited, Unity Bank Plc, among others have the highest prime-lending rate above 30 per cent in the manufacturing sector as of August 30, 2024.
A report by CBN also revealed that FBN Quest Merchant, FSDH Merchant Bank, Polaris Bank, Stanbic IBTC have prime lending rate below 10 per cent as of the period under review.
Specifically, the prime lending rate of Wema Bank closed August 2024 at 32.50 per cent, Signature Bank, 32 per cent; Keystone Bank Ltd, 30.50per cent and Unity Bank, 30per cent.
As of August 30, 2024, FBN Quest Bank reported an average prime-lending rate of seven per cent in the manufacturing sector as FSDH Merchant Bank closed the period under review at nine per cent.
The report also showed that the average maximum lending rate increased to 29.93 per cent in August 2024 as against 28.89 per cent in July 2024.
The money market data by CBN showed that the average maximum lending rate hit the highest peak since this year.
Maximum rate suggests the upper limit of interest rates for loans provided to the sector, which might apply to higher-risk scenarios or different loan structures.
A report by Fitch Ratings had projected that the CBN maintained
a stand on continues tightening policy in the near term, which seems necessary to more fully control inflation as rapid credit and money-supply growth suggests a still-loose monetary context.
“Such a tightening will still face implementation challenges, partly due to the potential for countervailing political pressure. However, without further sizeable monetary tightening, it may be difficult to achieve macroeconomic stability – real interest rates remain negative, deterring inward portfolio investment,” Fitch Ratings added.
Analysts have attributed the increase in lending to the hike in MPR and severe macro economic challenges.
Investment Banker & Stockbroker, Mr. Tajudeen Olayinka said banks review their lending rates on regular basis, subject to their respective cost of funds and the direction of MPR, not necessarily using MPR as a distinct value.
According to him, the MPR
signals to them the direction of interest rate in the market and the price they will pay if they have to borrow from or lend to CBN.
“Therefore, their deposit mix, which includes idle customers’ deposits, determines what their weighted average cost of funds would be. They then factor in the signal from MPR, to enable them arrive at their various prime lending rates which are usually reserved for their prime customers.
“But with all these recent circulars from CBN concerning idle deposits and foreign exchange windfalls, the market should prepare for a prolonged high interest rate regime. CBN doesn’t seem to have a good understanding of its recent destructive policies,” he added.
On his part, the Chief Research Officer, InvestData Consulting Limited, Mr. Omordion Ambrose said, “Businesses need a lot of credit facilities to survive, but in an environment where the lending rate is astronomical,
many enterprises, especially small and medium-scale, might find it extremely difficult to survive as their products will remain uncompetitive and the cost of production and the sale prices to consumers will remain high.” He added, “A hike in interest rate is often considered a manufacturers’ nightmare as it stifles productivity and expansion. A hike in interest rate slows down productivity, as manufacturers struggle to keep machinery in operations and pay salaries. Those who look forward to borrowing for expansion and production will have to shelve such ideas in the face of the high cost of accessing funds.”
In addressing these challenges, Vice president, Highcap Securities Limited, Mr. David Adnori suggested that development banks must be encouraged to lend at a single digit with stringent tracking, adding that CBN’s policy on tackling inflation rate is not working.
Data published by the National Bureau of Statistics (NBS), showed that the average retail price for refilling a 12.5kg cylinder of Liquefied Petroleum Gas (Cooking Gas) increased by 69.15 per cent from N9,194 in August 2023 to N15,552 in August 2024, on a year-on-year basis.
No reason was given for the surge by the bureau, however, inflation rate has been on a rising trajectory in recent months, hitting as high as 34 per cent before dropping slightly to 32.15 per cent in August from 33.40 per cent in July of 2024.
The NBS report tagged, “Liquefied Petroleum Gas (Cooking Gas) Price Watch August 2024,” said the average
retail price for refilling a 12.5kg cylinder of cooking gas increased by 9.05 per cent on a month-on-month basis from N14,261 in July 2024 to N15,552 in August 2024.
On state profile analysis, Rivers recorded the highest average retail price for the refilling of a 12.5kg cylinder with N17,086. followed by Cross River with N17,050 and Abia
with N17,012.
Benue and Sokoto states recorded the highest average price for refilling a 5kg cylinder with N7,000, followed by Rivers with N6,954, and Borno with N6,914.
On the other hand, Taraba recorded the lowest price with N5,600 followed by Abuja and Kogi with N5,825 and N5,857 respectively.
In addition, analysis by zone showed that the South-East recorded the highest average retail price for refilling a 5kg cylinder with N6,585, followed by the South-South with N6,451 while the North-Central recorded the lowest with N6,344. Contrariwise, the lowest average price was recorded in Bauchi with N13,425, followed by Nassarawa and Adamawa with N13,641 and N13,725 respectively. Analysis by zone showed that the South-South recorded the highest average retail price for refilling a 12.5kg cylinder with N16,524, followed by the South-East with N16,496 while the North-Central recorded the lowest price with N14,767.
Ahead of tomorrow’s World Maritime Day, the Minister of Marine and Blue Economy, Adegboyega Oyetola, has described the theme for this year’s celebration, “Navigating the Future: Safety First,” as a fitting narrative for the current happenings in Nigeria with regard to President Bola Ahmed Tinubu’s desire to make Nigeria a maritime hub in Africa.
He noted that the first major step by the president in navigating the future for Nigeria was the creation of the Ministry of Marine and Blue Economy, while following it up with
other policies and programmes that would ensure the safety of the country’s waterways. World Maritime Day is celebrated annually to provide an opportunity to focus attention on the importance of shipping and other maritime activities and to emphasise a particular aspect of the work of the International Maritime Organization (IMO).
This is as the Managing Director of the Nigerian Ports Authority (NPA), Dr Abubakar Dantsoho has applauded Oyetotola for his drive and tenacity towards ensuring port efficiency.
Following the successful execution of its rights issue, the Chairman of the Board of Directors, International Breweries Plc (IBPLC), HRM Nnaemeka Achebe has assured investors and stakeholders that the elimination of foreign exchange exposure will improve the company’s cash flows and support the return to profitability.
The company recently concluded a rights issue offer of 161,172,395,100 shares to its shareholders at the offer price
of N3.65 per share. He commended the company’s progress, particularly after its Rights Issue, which enabled the repayment of its forex denominated loan, which had impacted the company over the years.
Achebe said, “the elimination of our foreign exchange exposure will improve IBPLC’s cash flows and will support the company’s return to profitability. The offer was supported by our core shareholder, Anheuser-Busch InBev (AB InBev) who followed their rights in full. This is a strong indication of AB InBev’s commitment and belief in the Nigerian market opportunity and overall Nigerian economy.”
According to Dantsoho, “The minister has in many respect surpassed expectations, his drive and tenacity is unmatched. He has constantly drum it into our ears that he is focused on delivering results for Nigeria.”
In a statement by his spokesman, Ismail Omipidan, the minister noted that the theme for the 2024 World Maritime Day, reflects IMO’s efforts
at enhancing maritime safety and security, in line with the protection of the marine environment.
He further expressed the country’s commitment to sustaining the gains of the Deep Blue Project, with a view to ensuring maximum security of the country’s maritime domain.
Initiated by the Nigerian Government and led by the Nigerian Maritime Administration
and Safety Agency (NIMASA), the Deep Blue Project addresses the complex security challenges in Nigeria’s waterways. Since its full deployment in 2021 within the Nigerian Continental Shelf, maritime security has been significantly enhanced.
Oyetola said the enhanced security is, “responsible for the record of zero piracy by Nigeria in the last
24 months and it is to be noted that the United Nations Security Council, at its 905th meeting, acknowledged the progress made by Nigeria in maritime security concerning the contributions of the deep blue project.”
The statement further noted the efforts of the ministry at ensuring that the nation’s ports compete favourably with other ports across the globe.
Group Business Editor
Eromosele Abiodun
Deputy Business Editor
Chinedu Eze
Comms/e-Business Editor
Emma Okonji
Asst. Editor, Energy
Emmanuel Addeh
Asst. Editor, Money Market
Nume Ekeghe
Correspondents
KayodeTokede(CapitalMarkets)
James Emejo (Finance)
Ebere Nwoji (Insurance)
Reporter
Peter Uzoho (Energy)
At its recently held 47th Annual General Meeting (AGM), IBPLC, the producers of Trophy, Hero, Budweiser, Castle Lite and other beverage brands outlined its achievements and future strategies while emphasizing the critical role shareholders have played in its progress. A key highlight was the successful Rights Issue of 161,172,395,100 shares, generating net proceeds of N581.7 billion.
The Managing Director of IBPLC, Carlos Coutino who highlighted the challenges posed by inflation and forex losses from devaluation of the Naira, however, emphasized the company’s efforts to streamline operations.
He said, “In line with our business principles, we will continue to manage our costs tightly through our different cost management strategies as we remain focused on delivering value to our customers and driving innovation.”
Dike Onwuamaeze
The Traders of Africa (TOFA), last weekend unveiled its partnership with MoMo PSB, a subsidiary of MTN, and AliExpress, a multi category online platform that would foster intra-African and global trade in line snd further the objectives of the Africa Continental Free Trade Area (AFCFTA).
The partnership would facilitate seamless, trustworthy online trade processes between sellers and buyers in Africa and across the world.
The Chief Executive Officer (CEO) of TOFA, Mrs. Uju UzoOjinnaka, said: “We have finally unveiled our partnership with
NSIA Insurance said it has paid a total of N27 billion claims to its policyholders in the past five years. The company said this is part of its commitment to customers and stakeholders.
Addressing the media briefly after the company’s 2023 Annual General Meeting held in Lagos, Chairman NSIA Insurance, Dr. Adesegun AkinOlugbade, said the company paid N7.8 billion claims in 2023 alone and paid N19.2billion in the preceding four years, making a cumulative of
Guinea Insurance Plc, has announced the official launch of its #ComfortAssured campaign, a nationwide Integrated Marketing initiative aimed at enhancing customer engagement and reinforcing the company’s commitment to delivering comprehensive and reliable insurance solutions.
AliExpress and MTN’s MoMo. This partnership makes it possible for people to buy on Traders of Africa (TOFA) not only just African products but also AliExpress products, which has almost 200 million products in its platform.
“You can place your order on this platform and pay in your country’s local currency through MoMo. As soon as the payment is made, we are also partnering with Speedaf to handle the logistics and make sure that your orders are delivered at your specified address. It is exciting and we call it shopping without borders.”
The Front-end Developer, TOFA, Mr. Victor Ejiogu, said that the platform was not just an e-commerce
N27 billion in 5 years.
He said NSIA Insurance would remain unflinching in its commitment to fulfil obligations to its customers as it is prominently known. He added that the company’s Gross Written Premium recorded 24 percent growth up from N18 billion in 2022 to stand at N22.3 billion in 2023.
“The Insurance Service Result also grew by 18 percent to N19.8 billion from N16.8 billion in 2022. This growth permeated across the business lines with the Non-life and Life business achieving double-digit growth of 19 per cent and 17 per
The insurer in a statement to journalists said with regulatory approvals now secured, the #ComfortAssured campaign is set to increase brand awareness and strengthen relationships with customers across Nigeria.
The statement noted that as part of this initiative is that the company would introduce new,
website but a full marketplace that deals directly with companies, buyers and sellers across the continent and the world.
Ejiogu said that the platform would solve the problem of lack of trust in transactions between buyers and sellers and the difficulties people experienced in paying for items on AliExpress.
He said: “In some online transactions, people have had bad experiences trying to buy items and after payments, they get blocked and they are unable to get such items.
The Executive Director of MoMo PSB, Mr. Usoro Usoro, said that MoMo’s involvement was in line with its mandate to drive not just financial inclusion but digital
cent respectively, from N9.5 billion and N7.3 billion in 2022 to N11.3 billion and N8.6 billion in 2023,” he stated.
He said the company was able to successfully navigate the stormy macroeconomic environment it found itself in 2023 by deploying cost optimisation initiatives and leveraging its technical and management expertise to deliver Profit Before Tax(PBT)of N3.2 billion and Profit After Tax(PAT)of N3.1 billion.
This according to the NSIA Insurance boss is indicating a growth
innovative insurance products tailored to meet the evolving needs of both individuals and businesses.
Managing Director of the company, Mr. Ademola Abidogun said, “We are excited to roll out the #ComfortAssured campaign and bring our message of comfort and assurance to Nigerians
inclusion and connectivity in Nigeria and Africa.
Usoro said that MoMo is helping businesses onboard on the platform to make payments in a simple and seamless manner.
The Director African Operations, AliExpress, Mr. Geoffrey Jiang, said that Africa possessed immense potential and opportunities in trade. He said the platform would further drive business to business, business to country and international trade running into millions.
Also, Mr. Emeka Nwagwu, Deputy Managing Director, SpeedAF, promised seamless logistics delivery for every good bought online from China on the TOFA online marketplace.
rate of 344 percent and 400 percent respectively.
“Our positive performance was also reflected in other key metrics such as Return on Equity (ROE) which improved from 5 percent in 2022 to 19 percent in 2023 and Return on Asset (ROA) which improved from 3 percent to 9 percent . Also speaking, the company’s Managing Director/CEO, Mr. Moruf Apampa noted that the vast opportunities in the retail insurance segment remained untapped as the company steadily increased its footprint in the retail sector.
nationwide. This marks a significant step in our mission to offer dependable insurance solutions that our customers can rely on.” He said the campaign would be launched across multiple platforms, expanding Guinea Insurance’s reach and presence across the country.
Polaris Bank is on course to deliver a record profitability performance with a combination of a steady business expansion, increasingly efficient credit risks and cost management. Kayode Tokede reports
Average profit on every transaction by Polaris Bank has increased by about four steps this year when compared to the previous year in a growth trajectory that underlines the success of new management’s strategic initiatives.
By August 2024, Polaris Bank, Nigeria’s leading digital commercial retail bank, has surpassed its previous full-year profit before tax by more than 28 per cent in the first eight months of this year.
Annualised, management accounts for the eight-month period ended August 31, 2024 showed that Polaris Bank would significantly surpass all key performance indicators recorded in the year ended December 31, 2023.
With average profit on every transaction four steps ahead of the previous year, the bottom-line performance underscored a steady improvement in the core banking business, despite the challenging operating environment.
Growing customers’ confidence, improved margins and a strong performance in the core banking business over the past eight months signal that Polaris Bank could be on the way to a momentous performance in 2024.
The overall impressive outlook of the bank lent credence to the growing confidence and success of the new management of the bank, under the leadership of Mr. Kayode Lawal.
Pre-tax profit margin for the eight-month period ended August 2024 stood at 10.62 per cent as against 6.61 per cent recorded for the full-year 2023, an increase of about four percentage points. Net interest income margin stood at about 52.6 per cent in August 2024 as against 52.1 per cent in December 2023. Pre-tax return on total assets for the eight-month period rose to 1.22 per cent as against 0.63 per cent recorded in full-year 2023. Pre-tax return on equity stood at 21.44 per cent in August 2024 compared with 13.15 per cent in December 2023.
At N16.733 billion in the first eight months of this year, profit before tax was 28.4 per cent ahead of the N13.033 billion recorded in full-year 2023. The bank had recorded net profit of N10.91 billion in 2023.
Key extracts of the management accounts and report for the period ended August 2024 indicated gross earnings of N157.59 billion, with interest income at N137.15 billion. Net interest income stood at N72.18 billion. Non-interest income closed at N20.44 billion while net operating income stood at N78.17 billion. With total operating expenses at N61.43 billion, pre-tax profit surged to N16.733 billion, setting up the bank for its highest profit performance in recent years.
Key balance sheet items also underscored growing brand adoption and business penetration, with the bank continuing its tradition as a bank-to-go-to for small and medium enterprises. Customers’ deposits closed at N1.663 trillion. Total equity has surpassed full-year performance at N115.86 billion in August 2024 as against N99.13 billion for full-year 2023. Total assets is also already ahead of the previous full-year performance, at N2.060 trillion by August 2024 as against N2.058 trillion recorded by the end of 2023.
Managing Director, Polaris Bank, Mr. Kayode Lawal, said the results evidenced the early successes of the ongoing strategic initiatives aimed at strengthening the bank’s overall position in the banking industry.
According to him, Polaris Bank is positioned to sustain its upwardly growth trajectory while remaining focused on its people-centric principles.
“We are in stronger position now to steadily build on the early gains and deliver exceptional value to our stakeholders,” Lawal said.
He pointed out that increasing brand penetration shows that discerning banking public continues to trust Polaris Bank as a safe haven for their deposits and a reliable partner for their businesses.
Audited report and accounts for the year ended December 31, 2023 had shown gross earnings of N197.04 billion with interest income of N144.68 billion and net non-interest income of N44.9 billion. Non-interest income was boosted by net trading and unrealized foreign exchange (forex) income, which stood at N32.24 billion during the year. Operating income stood at N97.19 billion. With operating expenses at N84.15 billion, pre-tax profit closed at N13.033 billion. After taxes, net profit stood at N10.91 billion, implying earnings per share of 44 kobo.
A review of the loan disbursements during the first eight months of the year showed an uptick, with the bank continuing a strong focus on small and medium enterprises (SMEs). The loan portfolio continues to reaffirm the brand essence of Polaris Bank, impactfocused banking that prioritises retail banking, SMEs, equal opportunity, youth, healthcare, education, family and environment among others.
A member of the United Nations Environment Programme Finance Initiative (UNEP FI), Polaris Bank sees its business as not only a sustainable profitable entity but also as a social intervention to help humanity, starting from Nigerians, to achieve self-satisfaction and safety. The UNEP FI seeks to engage the private sector and the global financial sector to help create a financial sector that serves people and the planet
while delivering positive impact.
About N60 billion has so far been disbursed in new loans to SMEs over the past eight months while about N17 billion was disbursed under personal loans. Instructively, in a period of macroeconomic headwinds, the bank has remained supportive of small and medium enterpreneurs. Invoice financing totaled N22.17 billion by August 2024, already ahead of N21.12 billion disbursed for full year 2023. Business loans were up to N23.8 billion by August 2024, on course to surpass N35.21 billion disbursed for the whole of 2023.
The bank continues to provide supports across all key social impact lines of education, health and environment. A bit expository of the structural components of the loans underlines how Polaris Bank has been a major enabler for Nigerian businesses and households. Under its cash flow-lending product for SMEs known as Polaris Business Loan, the bank offers existing and new SME customers opportunity to access quick loans for stock replacement, equipment finance, working capital and business expansion to sustain and scale up in the business. SMEs which take the business loans, are also eligible to access free tailor-made capacity building trainings which is offered periodically by the Polaris Business Advisory Academy.
Polaris Bank is a major funding sponsor and partner for several large-impact empowerment programmes, including the Lagos State Employment Trust Fund (LSETF) through which it provides multi-million naira amenable loans to artisans operating in Lagos State. Lagos State’s informal economy, under which artisans are categorised, is estimated to employ some six million people – about three-quarters of the state’s estimated eight million labour force. Lagos alone is estimated to account for some three-quarters of Nigerians in the informal economy. Despite its evident potential, the informal economy is often faced with difficulties, one of which is the lack of access to finance. The LSETF was established by The Lagos State Employment Trust Fund Law 2016 to provide financial support to residents of Lagos State, for job, wealth creation and to tackle unemployment.
Under its ‘Polaris Education Loan’, the bank sets aside a dedicated credit line to support private school owners. The Polaris Education Loan offers both new and existing private primary, secondary, and tertiary institutions customers access to loans of up to N100 million to meet their various funding needs. About N2 billion has been disbursed in the past 20 months.
With Nigeria’s education sector at the centre of the nation’s rebirth; the credit line forms part of the bank’s effort to support Nigeria’s vital educational sector by ensuring that schools meet their goals and growth aspirations. The product offers the promoters of private schools credit facility to meet their various administrative needs: payment of salaries, finance rent, purchase of laboratory equipment, school buses, furniture, books for the library, school renovation and expansion. It takes 24 hours for customers to get the loan. This also synchronised with the Polaris Salary Advance; which provides quick finance solution that enables teachers and other employees to address spending needs such as: household bills; health expenses; repairs and replacements; unexpected travels and moving expense. Also, Polaris Bank’s Health Sector Loan is designed to meet the funding needs of healthcare service providers in Nigeria, especially SMEs in specific health sub sectors such as hospitals-including
dental and optometry clinics, pharmacies and medical laboratories and diagnostic centers among others. The Polaris Health Sector Loan product offers a lot of benefits for SMEs including tailormade funding, payment solutions for collections of fees, financial advisory services, capacity building programmes and dedicated relationship management among others. The product is available as overdraft or term loan with extended tenors, depending on the unique funding needs which include working capital requirement for stock and consumable purchases, term loan for rent, renovation, remodeling or expansion, acquisition of operational vehicles, generators, air conditioners and refrigerators for storage. The product is available to existing and new customers looking to grow their businesses in the sector.
With its award-winning digital lending platform, VULTe digital bank, digital lending continues on the rise, with about N10 billion disbursed within the past eight months, on course to surpass N12.8 billion recorded for the whole of 2023.
The continuing growth in digital lending underscored the user-friendly experience of VULTe. In its Digital Channels ScoreCard Report, sub-titled: Leveraging Superior User Experience (UX) on Digital Channels to drive Retail Banking Growth in Nigeria; KPMG identified five distinctive metrics to assess digital relevance including digital onboarding, payments and transfers, digital lending, self-service and customer care.
A full digital bank that provides fast, convenient and reliable solutions to banking needs; some of VULTe’s unique features include: QR payments, end-to-end account opening, instant loan request debit card request, issuance and activation, without the customers leaving the comfort of their homes, offices or wherever they may be. The platform does not just cater to Polaris Bank’s customers alone but non-customers can also download and enjoy banking services on VULTe. Another key feature is VULTe’s API Banking, which allows merchants and businesses to integrate VULTe with other business critical systems, enabling a portfolio of services including risk assessment, bank statement requests, lien accounts, direct debits and more.
The constitution of a full board for the bank two weeks ago was seen by industry analysts as a clear endorsement of the bank’s remarkable strides under the new management by the Central Bank of Nigeria (CBN).
Industry analysts expected the recent constitution of the full board of the bank, with a stronger management team and diverse board experience and expertise, to deepen growth and enhance the operational performance of Polaris Bank.
Analysts said the steady improvements in operational performances and stable management underlined the preparedness of the bank to retain a respectable and leading position as preferred digital lender in the post-recapitalisation banking industry.
The constitution of the full board by the Central Bank of Nigeria (CBN) was a regulatory approval of the silent but remarkable achievements of the Kayode Lawal-led management and an endorsement of the future of the bank.
The 10-man board is headed by Dr. Kassim Gidado as board chairman. Other non-executive directors included Dr. Akwa Okon, Mallam Umar Ambursa, Mrs. Ayaba Ayo-Joseph, Mrs. Subulade Giwa-Amu and Dr. Christopher Onosode.
The newly appointed non-executive directors will provide support for the executive management
team led by Mr. Kayode Lawal, Managing Director; Mr. Chris Ofikulu; Executive Director, Retail and Commercial; Mrs. Abimbola Ozomah, Executive Director, Corporate & Investment Banking and Sharafadeen Muhammed, Executive Director, Operations.
Lawal is a seasoned professional with over three decades of experience in the banking industry. Prior to his appointment with Polaris Bank, he had a distinguished tenure at Sterling Bank Plc, where he held the position of Executive Director in charge of Corporate & Investment Banking. He is committed to excellence and leadership in the banking industry which was evident throughout his career. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), and an Associate Member of the Chartered Institute of Taxation of Nigeria (CITN). Additionally, he has enriched his professional knowledge through executive education programs at prestigious institutions such as; Lagos Business School, University of Oxford, Columbia University Graduate School of Business, and Massachusetts Institute of Technology.
Gidado, the new board chairman, is an academic with over 35 years of experience in the fields of engineering, project management, and strategic development. He brings a wealth of expertise and a dynamic vision to the bank’s board. He has held prestigious roles, including Group Managing Director and Chief of Staff at MAG Group Limited, where he managed a diverse portfolio of companies across 35 countries. His extensive experience in public-private partnerships, and infrastructure development, among other strategic footprints, will be invaluable to the growth and development of Polaris Bank.
Over the years, he has advised governments and captains of industry on several strategic and policy issues in procurement, infrastructure development, and security. He recently championed the development of the North-East Stabilisation and Development Master Plan (NESDMP) for the North-East Development Commission. He produced the document that sets the Commission up in the mode for Readiness-forExecution for the implementation of the NESDMP until the year 2030.
A community leader of repute, Gidado is the Wazirin Jam’are in Jam’are Local Government in Bauchi State. His extensive academic, public service, and professional background will provide invaluable leadership as he assumes the role of Board Chairman.
Okon who holds a doctorate in Law, has experience as a Special Assistant on Finance and later Managing Director at the Niger Delta Development Commission (NDDC) in Port Harcourt and as a Non-Executive Director of FHA Mortgage Bank Limited in Abuja, where he represented the Federal Government’s interest. A Chartered Accountant, Okon is an accomplished professional with a rich educational background, including attending the Senior Executive Programme on Strategy, Leadership, and Transformation at the London Business School. He holds fellowships with both the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Bankers of Nigeria (CIBN). He is also a lawyer. His notable roles include serving as the Managing Director and CEO of Akwa Savings and Loans Limited from 2007 to 2013, where he successfully implemented turn-around strategies for the mortgage finance institution owned by the Government of Akwa Ibom State, Nigeria. Ambursa is an expert in Enterprise Transformation and Development Finance with over 30 years of experience in the banking industry, including a distinguished tenure at the Central Bank of Nigeria.
Omolabake Fasogbon
The importance of imbibing sustainability practices in business have been highlighted by a firm, ESG Impact Consulting Limited, stressing increased advocacy and education to drive compliance.
The company recently affirmed the far-reaching impacts of sustainable acts to not only drive business growth, but also enhance life’s quality, reduce environmental impact, and consequently realising the Sustainable Development Goals (SDGs).”
Reiterating its commitment to responsible business
practices, the company in a statement said it is convening experts and industry leaders in Lagos to share knowledge and insight on how top businesses and brands in Africa are incorporating into their model and strategies.
It explained further that discussion at 24th West Africa Sustainability Summit and Awards ((WASSA) seek to also revolutionise Africa’s business landscape under the theme, “Creating a Sustainable West Africa: How Smart Companies Turn Sustainability into Billion Dollar Businesses.”
It informed further that
the summit on September 30 would on the sidelines, feature an award and recognition ceremony for entities that have made significant strides in sustainability, as part of efforts to motivate compliance with sustainability goals.
“The summit will feature in-depth analysis of emerging trends in sustainability, equipping businesses with tools to improve productivity, manage risks, and safeguard customer well-being. There will be exchange of ideas on importance of sustainability to brand development through adoption of best practices,” it stated.
The federal government has signed a Memorandum of Understanding (MoU) with the original builders of Ajaokuta Steel Plant Messrs, Tyazhpromexport (TPE) and members of their consortium namely; Novostal and Proforce Manufacturing Limited for the rehabilitation, completion and operation of Ajaokuta Steel Plant (ASP) and National Iron Ore Mining Company (NIOMCO) in Kogi State, Nigeria.
The Minister of Steel Development, Shuaibu Audu described the MoU as a bold step towards creating a sustainable base for the industrialisation of the Nigeria economy.
He noted that the revival of the Steel sector would also reduce importation of Steel products into Nigeria, which is estimated at over $4 billion annually and will help save scarce foreign exchange.
Audu, who led a Nigerian delegation to Moscow, Russia on a working visit, met with the Deputy Minister of Industry and Trade of the
The rehabilitation call was accepted by the Russian Federation when a consortium led by Messrs, TPE visited the Steel Plant in Ajaokuta and the Iron Ore Mining site at Itakpe in August, 2024 for preliminary inspections leading to the invitation for the signing of the Memorandum of Understanding.
Russian Federation, Mr. Alexey Gruzdev and the consortium led by TPE assured the Nigerian delegation of the readiness of the Consortium to meet the expectations of the MoU with the Nigerian government.
The President of Metallurgical Holding, “Novostal – M” Demchenko Ivan Ivanovich assured the delegation of their readiness to submit a detailed proposal for the project after the comprehensive audit of the Plant.
The General Director of Messrs. TPE, Mr. Egorov Anatolevich and the Group Managing Director of Proforce Manufacturing Limited, Mr. Adetokunbo Ogundeyin assured the Nigerian delegation of their commitment to the project.
Managing Director, Sub-Saharan Africa, Project Management Institute (PMI), George Asamani, has stated that some factors are critical to curbing the culture of abandoned projects in Nigeria and the rest of Africa.
In a statement titled, “The culture of abandoned projects: The solutions are in plain sight,” Asamani said that while ineffective project management is not the sole cause of abandoned projects, it plays a crucial role in their outcomes.
He said; “Strengthening continuity and ensuring seamless execution, especially during political transitions, can significantly enhance project success. By improving oversight and accountability mechanisms, projects can be completed on time
and within budget, ultimately delivering the intended benefits to communities.”
Asamani stated that project management offers a structured approach to navigating the complexities of public infrastructure development. Through proper scheduling, resource allocation, and progress tracking, project management minimises delays and keeps projects on course. “One of its most critical benefits is fostering continuity - comprehensive documentation of decisions, budgets, and timelines ensures that new administrations pick up where previous ones left off without losing momentum,” he added.
Speaking further he revealed that a well-structured project management approach begins
with thorough feasibility studies that assess financial, technical, and environmental factors impacting delivery. Instead of setting unrealistic timelines, professional project managers use data-driven forecasting to establish achievable deadlines and cost estimates.
He said, “Contingency planning is another essential aspect of project management. Whether facing fluctuating material costs or weather-related delays, project managers are prepared to adapt while keeping the project on track. Cost control mechanisms, such as continuous expense monitoring, allow project managers to identify areas of overspending early and take corrective action before financial distress sets in.”
Agnes Ekebuike
The Fintech Association of Nigeria, an industry-led organisation that represents and promotes the interests of the Fintech sector in Nigeria, is set to discuss Generative AI, Smart Regulation, Digital Assets, Risk Management and Cybersecurity/Fraud management, Digital and Economic Inclusion, and other relevant topics at the 7th Nigeria Fintech Week, which is scheduled to hold October 8-10 2024 at The Landmark Centre in Lagos.
The organisers have also announced a line-up of local and international speakers for the Fintech Week.
Nigeria Fintech Week is the largest Fintech event in Africa.
Over the last six editions, the event has attracted more than 20,000 participants, more than 500 brands and representatives from more than 50 countries to explore trends, foster collaboration and shape the future of Africa’s dynamic and rapidly evolving fintech industry.
This year’s theme: ‘Positioning Africa’s Fintech Ecosystem to Accelerate Inclusive Growth’, underscores the critical role of financial technology solutions in driving much-needed economic expansion and development.
This year’s event will be a hybrid event (online and in-person) and it is expected to host more than 20,000 attendees from more than 80 countries, as well as more than
100 speakers and more than 50 exhibitors. The event will also include an investor forum where startups can pitch to select investors, a job fair for interactions between employers, recruiters and job seekers, opportunities for one-to-one meetings with regulators and other opportunities.
Speaking ahead of the event, COO, FintechNGR, Dr. Babatunde Obrimah, said: “Since we started in 2017, Nigeria Fintech Week has emerged as the premier platform for advancing the African financial technology ecosystem, bringing together key stakeholders to ensure that fintech innovation continues to drive sustainable economic development on the continent.
Kayode Tokede
The Chairman of Nigeria’s premier Over-the-Counter (OTC) Exchange, National Association of Securities Dealers (NASD) PLC, Mr. Kayode Falowo, at the company’s 11th Annual General Meeting (AGM) in Lagos stated that the board and management had taken steps to address the concerns expressed by the shareholders on improving financial performance and service offerings.
He revealed that as at September 20, 2024, the NASD Securities Index had increased from 927.47 in December 2023 to 2,227.73 to date, indicating a growth of 140 per cent.
“In the same period, the market capitalisation increased by 143 per cent from 1.26 trillion to over 3 trillion. The Value of traded securities also grew from 37.58 billion to 53.5 billion, representing a growth of 42.5per cent over the period of 38 weeks. In addition, the
number of deals executed in the 38 weeks is 5,821 as compared to 3,838 deals throughout 2023,” he revealed.
He disclosed that the management is projecting to achieve a net income of about N400 million by the end of 2024, which is a significant improvement from the N69.6 million loss recorded as at December 31, 2023.
“I wish to inform shareholders that the Board has taken steps to enhance our service offering
through the introduction of new products and services. I am pleased to note that the Securities and Exchange Commission (SEC) has approved our Digital Securities solutions initiative which will enable participants to trade digital securities on the NASD.
“We believe this will attract the younger generation in Nigeria and other parts of the world to our market. We have also deployed our Mobile App and participants
in the market have full digital access to our services.
“Secondly, we have recently received approval from the regulator to trade Commercial Papers on our platform. This is a game changer that was secured through diligent and purposeful engagement between SEC and our Management team.
“We seize this opportunity to thank the SEC for its willingness to encourage new initiatives by the NASD as we
look forward to receiving its blessings on other outstanding initiatives that are designed to drive the volume and value of trades on the NASD platform,” he added.
Falowo added that “ it is in a close engagement with major participants in the creative industry and expected to commence issuance of products that would position the NASD as a platform for aggregating capital to fund this critical sector and contribute to the nation’s economy.”
Prof. Mahfouz Adedimeji is the pioneer vice-chancellor of the African School of Economics, Abuja, with a vision to reposition education for the socio-economic development of Africans. In this interview with Funmi Ogundare, he explained why Nigeria must cultivate leaders who radiate integrity, discipline, excellence, accountability and a high sense of service, as well as attract the best minds to the classroom through highly competitive remuneration for staff, provision of infrastructure, capacity building and depoliticising education for optimal performance. Excerpts:
You have an extensive background in Pragmatics and Applied Linguistics. What sparked your interest in these fields, and how has this shaped your academic journey?
Since the publication of J. L. Austin’s ‘How to Do Things with Words’, in 1962 and even before then, many philosophers of language and language specialists have renewed their interest in the study of language from the viewpoints of its users and contexts, which is called pragmatics. I am also interested in this area because when we understand the way of words and the strategies of using them to achieve our purposes in a world that is becoming increasingly wild, we will be able to achieve three critical issues that engender social progress: peace, security and development. The same applies to applied linguistics, which concerns the application of the insights and findings from language studies to solving real-life problems wherever they arise. My interest in language actually stems from the fact that it is arguably the only human-specific natural endowment we have. While other creatures have means of communication, they do not have the capacity for language use as they lack what Noam Chomsky calls Language Acquisition Device (LAD). When you talk of enterprise, strength, beauty, speed, creativity, elegance, even ‘intellect’ and ‘wisdom’ (for which we are told to learn wisdom from the ants), you realise that humans still learn from animals. Language appears as the only quality that sets our species apart; that makes us human. We are not just homo sapiens (human beings); we are also homo loquens (talking beings). This interest has shaped my academic journey and defined my deployment of applied linguistic insights to addressing issues that border on language itself as well as development, peace, education, religion and society at large.
You are the pioneer Vice-Chancellor
of Ahman Pategi University and are now steering the ship of the African School of Economics in Abuja. What core values are you bringing on board?
I am bringing on board crucial IDEAS, which I am now entrenching as core values of the university. The IDEAS are rooted in Integrity, Discipline, Excellence, Accountability and Service. If these core values are institutionalised as ideal, I am convinced that we will be on a firm foundation of repositioning Nigeria and producing transformational leaders that will power Africa’s development. If you look at the African landscape, what stares you in the face is leadership deficit. But rather than focus on these core values or IDEAS that
I mentioned, many people are still fixated on the usual window theory of lamenting ‘How Europe Under-developed Africa’, as Walter Rodney wrote long ago, instead of adopting the mirror theory that requires working on ourselves and realising that we are the problems and we are capable of solving them. So, to make the changes we want, we have to cultivate leaders who radiate integrity, discipline, excellence (in learning, teaching, research, innovation and community development), accountability and with a high sense of service and industry.
With what you have been able to achieve in your former university, what strategies are you implementing to establish a strong foundation for the new university’s academic (vis-à-vis shaping the curriculum to meet local and global standards) and administrative functions?
I think achievements are relative as not everything that counts can be counted, but we thank God we did all the best we could do under the prevailing conditions, and the university is thriving. For the African School of Economics (ASE), I had developed a strategy comprising 10 P’s with which we would build a strong foundation. The strategies are elaborate, but I can tell you they are all-encompassing, from planning and publicity to personnel, power and technology to partnerships and programmes to be deployed to attract and retain the best students and faculty. All these are at work now that admissions are in progress, and we’ll be activating the remaining Ps very soon.
With the partnerships, the university currently enjoys with other ASE campuses in Africa and global universities like Princeton University, where the founder is based, New York University, Barcelona Graduate School of Economics, Universidad del Desarrollo, Université Laval, University of Ottawa, Aalto University and others, the university is poised to provide the best of transnational
education to its students. Fortunately, the current CCMAS (Core Curriculum Minimum Academic Standards), which we started to implement last October, is robust, and it allows the development of a good percentage of the curriculum to align with the objectives of the individual university and its context. Given that ASE is conceived to be a global university located in Nigeria, the curriculum design and implementation are geared towards producing global leaders, not local champions.
What role does the university play in addressing broader societal issues such as unemployment, healthcare or social justice?
Our vision is transformational and it is about repositioning education for the socio-economic development of Africans. The founder, Leonard Wantchekon, is a renowned professor of economics, and as you know, Economics permeates everything. I know this as I was an outstanding student of Economics at a point in my education. So, the economic and entrepreneurial value of each programme will be integrated into the training of students so that they graduate with a sense of direction as problem solvers and job creators, not town criers and job seekers. The university is strong in economics, entrepreneurship and culture, and these will percolate all aspects of student training. Through the Public Health and Medical Laboratory Science programmes and others to start soon in the second year, the university plans to contribute to healthcare delivery. Also, by being committed to the highest ideals of university administration and introduction of other programmes in the Faculties of Agriculture, Medical Sciences and Law, the university will make significant impacts on diverse aspects of the society.
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Oluchi Chibuzor
The National Library and the Zaccheus Onumba Dibiaezue Memorial Libraries (ZODML) have partnered to deepen cultural education and indigenous language literacy in the country.
Speaking during a programme to commemorate this year’s International Literacy Day in Lagos, the co-founder and Chairperson, Board of Trustees, ZODML, Ifeoma Esiri,
said there must be a conscious effort to make people able to read and write in their own local languages.
According to her, “It’s a shame, and it’s a failure of the government to the extent that they have not thought about creating structures and systems that allow communities to communicate in the literacy sphere of reading and writing in local languages.
“The purpose really is to encourage them to read and write, to make them understand, as the professor said, that literacy is more than just education,” said Esiri. “Literacy is a conscious effort to be a reader, be a writer, and use that to understand your environment, your heritage, and your community.”
The National Librarian and Chief Executive Officer of the National Library of Nigeria, Prof. Chinwe Anunobi, urged parents to
teach their children their languages as a way to promote literacy.
“Literacy, indigenous language promotion and development starts from the institution, and the basic institution is the family,” stated Anunobi. “So that is why we are partnering with a network of book clubs all like-minded stakeholders in reading. That’s why we are partnering with ZODML to make sure that we are like-minded and our intentions are focused that people should.”
Del-York Creative Academy (DCA), a premier institution in creative education, has signed a landmark memorandum of understanding (MoU) with Lancaster University to advance creative excellence, foster innovation, and empower the next generation of creative entrepreneurs across Africa.
The signing ceremony, held at DCA’s campus in Victoria Island, Lagos, marks a major milestone in the continent’s burgeoning creative sector, with the two institutions joining forces to leverage their combined expertise in digital media, filmmaking, and creative industries education.
The collaboration also promises to impact Africa’s creative ecosystem significantly,
positioning it as a global innovation and entrepreneurship hub.
Mr. Ikenna Oguike, Chief Operating Officer of Del-York Group, representing the President and CEO, Mr. Linus Idahosa, expressed his excitement at the new partnership:
“This collaboration between Del-York Creative Academy and Lancaster University highlights our shared commitment to harnessing the power of creativity to drive positive change. Together, we aim to cultivate Africa’s creative talent and connect it with global opportunities, building bridges between local creators and the international creative economy,”
he said.
DCA, recognised for its cutting-edge digital marketing, content creation, filmmaking, and directing programmes, offers students unparalleled access to hands-on training and industry mentorship. With over 3,000 creatives trained, DCA has become a vital player in bridging the gap between Africa’s rich talent pool and the rapidly evolving global media and entertainment industries.
Lancaster University, renowned for its academic excellence and impactful research, will bring its faculty expertise in innovation, digital media, and global collaboration to the partnership. Represented by Kirk Semple, professor of Environmental Microbiology and
Director of International Research and Projects, Lancaster University is poised to expand its global footprint by fostering collaboration with Africa’s leading creative institution.
“We are thrilled to partner with Del-York Creative Academy,” said Semple. “This partnership represents an extraordinary opportunity to exchange knowledge, foster innovation, and develop new creative methodologies. Together, we will drive the development of Africa’s creative industries while enriching both institutions with global perspectives.”
Mrs. Uzo Orimalade, Head of Brand and Business Development at DCA emphasised the broader impact of the partnership on Africa’s creative sector:
A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.
An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the
floor of the Nigerian Stock Exchange.
A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.
GUIDE TO DATA:
Date: All fund prices are quoted in Naira as at 23 September-2024, unless otherwise stated.
Bennett Oghifo
The design of the Lagos-Abidjan Corridor Highway Development Project has been finalised and approved by heads of member states of ECOWAS, with the goal of initiating the procurement process in its next meeting.
The Heads of member states of ECOWAS, Chaired by the Minister of Works, Sen. Dave
Umahi, met to finalise the design of the project at the 21st Ministerial Steering Committee meeting, on Saturday in Lagos.
The project, which is expected to cost $15 billion and increase regional economic integration, is currently in its study phase, which indicates that detailed research, planning, and design are being conducted, according to a statement issued by the Federal Ministry of Works.
Highlighting the history and progress of the Lagos-Abidjan highway development project, Umahi stated that the project, initiated in 2013, had received significant funding support from the African Development Bank.
He noted that the current meeting aimed to finalise and approve the design of the project, as it was nearing a crucial stage where concrete
steps towards implementation could be taken.
He said the heads of member states of ECOWAS have met to agree on the project and that various stages of development, including design, environmental impact assessment, and funding mechanisms, had been ongoing for the past 11 years.
“The design of the project, ESIA design, conceptualisation, funding mechanisms have been
on in the past 11 years.
“As of today, we are going to listen to the committee of experts in terms of the design and so we believe that we will finalise and approve the design today, and then we set the goal for procurement, probably in our next meeting,” he said.
The Minister of Roads and Highways, Ghana, Mr Francis Boakye, emphasised the importance of infrastructure,
particularly roads, in driving socio-economic development. He explained how highways could facilitate trade, tourism, and economic activities, and cited the example of the United States’ economic boom as evidence of this correlation. Boakye emphasised the significance of the Lagos-Abidjan highway project in promoting economic integration within West Africa.
Bennett Oghifo
Minister of State for Agriculture and Food Security, Sen. Abdullahi Sabi Aliyu has praised the Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) Nigeria Project for its outstanding
achievements in restoring the Nguru Wetlands Ecosystem in Yobe State.
ACReSAL’s interventions in Nguru Wetlands have transformed the lives of 80,853 direct beneficiaries, including 59,871 farmers, 15,624 herders, and 5,358 fishermen,
and indirectly impacted 515,969 people. The project has cleared 28km (385Ha) of blocked waterways, restored vital ecosystems and aquatic life, enhanced food security through improved agricultural productivity, and supported local economic growth.
The project aims to expand its restoration efforts to 5,000ha across eight Local Government Areas, contributing to the preservation of Lake Chad. This is a major boost to sustainable development.
“Congratulations on the wonderful work you are doing,” said the Minister, “Looking forward to more impactful interventions.”
The National Project Coordinator (NPC) of ACReSAL Nigeria Project, Mr. Abdulhamid Umar expressed gratitude for the Minister’s endorsement, stating: “This recognition motivates us to continue delivering transformative results for the communities surrounding the Nguru Wetlands. “This endorsement reaffirms our commitment to sustainable development and community resilience,” added Abdulhamid Umar.
Fadekemi Ajakaiye
Lagos State Governor, Mr. Babajide Sanwo-Olu, and the Managing Partner of Thinkmint Nigeria, Mrs. Imeida Usoro Olaoye, have highlighted the critical importance of innovation, sustainability, and inclusivity in shaping the future of the
real estate sector in Lagos and Nigeria.
According to a statement by the Deputy Director, Public Affairs LASRERA, Adeoti Sobowale, they stated this during a two-day 2024 Real Estate Discussions and Awards (REDA), organised by Thinkmint Nigeria at the Eko Hotel and Suites, Victoria
Island, Lagos, recently. Governor Sanwo-Olu, who was represented at the event by his Special Adviser on Housing, Barr. Barakat Odunuga-Bakare praised the 2024 REDA for the theme, “Navigating Change in Real Estate for a New Era”, noting that it is particularly relevant given the evolving landscape
Bennett Oghifo
Lontor Hi-Tech Development Company, one of the subsidiaries of Choice
International Group, has rolled out a renewable energy system that will help minimise electricity costs in the face of rising energy costs
of the industry. He emphasised that real estate is not just about building structures but creating communities, driving economic growth, and fostering social development. The Governor reiterated his administration’s commitment to ensuring that Lagos State remains a leader in real estate development
through comprehensive policies and investments in infrastructure. He outlined the state’s efforts to streamline land title registrations and secure property ownership through the issuance of Certificates of Occupancy (CofO).
These initiatives, he said, have contributed to boosting investor confidence and
reducing property disputes, making Lagos a more attractive destination for real estate investments. Sanwo-Olu also highlighted the critical role that infrastructure projects, including road expansions and the development of transportation networks, have played in unlocking the potential of key areas.
in the country.
The product, Residential Energy Storage System (RESS) is solar-based but has the capacity of cutting energy
costs by about 80 percent.
While Nigerians who reportedly enjoy about 20 hours of electricity daily, currently pay about N225 Kilowatt Per hour KW/h, the RESS will provide constant electricity supply at N40 for the same unit.
The event themed, “Power your lifestyle”, had several distributors and residents in attendance. Also in attendance were the Managing Director of the company, Mr Roamen Lin, Senior marketing Manager, Mr Larry Long, Senior Sales managers, Mrs Doris Du and Mr Kizito Okhaifoh.
Speaking at the event, Long said the company has been in Nigeria for over 20 years and has continued to expand in the provision of household
appliances and others.
Noting that before now, people knew Lontor with the manufacturing of torches and rechargeable fans, he said the company has an array of rechargeable and non rechargeable fans as well as torchlights for indoor and outdoor services.
Other products are boom speakers, kitchen appliances like multi function blenders, air fryers and mixers; energy conserving Air Conditioners, heater kettles and a host of other products.
Speaking about the new product, Long said; “People are paying N200 to N250 per unit of electricity but by using this solar system, you will be spending N40 per unit”.
On his part, Kizito said the
renewable energy system is made up of an inverter and lithium battery -as opposed to the lead used in some places - all put together as one.
“This is the first time such a launch will be done in Abuja, which is part of the North Central market. Lontor is a manufacturer of several household appliances including blender, torchlights, music box, fans, heater kettles among others. Choice International Group has Lontor, GAC and Gree as subsidiaries
“We are providing you with 3 months warranty for the inverters, while our technical guys are available to help with installation and maintenance.
Fadekemi Ajakaiye
Arkbridge Infrastructure Limited, the developer of New Lagos City, has assured real estate investors and home buyers of exciting rental income and opportunities in its various house types within the city.
The New Lagos City is a residential ecosystem which, according to Pelumi Amusa, an Engineer working with Arkkbridge, comprises various developments including East Land Golf Estate, which is a landed property; Fairfield Apartments with different
Courts A, B and C, and Garden Terraces, all sitting on about 43 hectares of land in Ibeju Lekki area of Lagos.
Court A is housing five blocks of flats. In each block there are about 18 Apartments which consist of three bedrooms, two bedrooms and single beds for different family-types.
“Now, we have introduced the Garden Terraces, also within the city. These are for families that want to stay on their own. That led us to create single units different from the apartment buildings for people that want to have their own dedicated
facilities like power and water.
“We decided to also introduce the Garden Terraces for people who have the money and want to enjoy their lives without anybody’s disturbance,” Amusa said.
He stressed that the new development comprises single family units for clients that want luxury and exclusive living.
The estate, he said, promises 24 hours uninterrupted power to be supplied by gas plants from an IPP company and will be ready by the first quarter of 2025. There is a water treatment plant to provide potable clean
water. The plant is a German technology and it’s going to be delivered before the end of this year. It is presently at 85 percent completion stage.
“It is a rental income property because it can serve many purposes, it can serve as rental income property and personal property but currently we will be having two- and three-bedroom terraces and we’re working on six units for the two bedrooms and we’re going as far as 200 units. Both two bedroom and three bedrooms will be stand-alone buildings,” he said.
James Emejo in Abuja
Nigeria’s unemployment rate rose to 5.3 per cent in the first quarter of the year (Q1 2024) compared to five per cent in the fourth quarter of last year (Q4 2023), the National Bureau of Statistics (NBS) said yesterday.
According the Nigeria Labour Force Statistics Report, Q1 2024, unemployment among persons with post-secondary education was nine per cent, and 8.4 per cent among youth aged 15-24 years, a decrease of 0.2 per cent compared to 8.6 per cent in Q3 2023.
The unemployment rate in urban areas stood at six per cent, same as in the preceding quarter.
NBS further stated that time-related underemployment stood at 10.6 per cent, showing a decrease of 1.7 per cent, from 12.3 per cent in Q3 2023.
The report stated that 4.5 per cent of the working-age population remained
Chuks Okocha, Michael Olugbode and Adedayo
Former President Goodluck Jonathan, yesterday, said the outcome of last weekend’s governorship election in Edo State had shown that technology would not solve Nigeria’s electoral challenges.
Jonathan said the human mindset was key to resolution of the electoral problems. But he regretted that many Nigerians had a dirty attitude to politics
The former president canvassed attitudinal change among citizens.
Jonathan made the remarks in Abuja at a programme organised by
by the international community.
Tinubu, who is Chairman of the Authority of Heads of State and Government of the Economic Community of West African States (ECOWAS), made the calls while addressing world leaders during the General Debate at the ongoing 79th Session of the United Nations General Assembly (UNGA) at the UN headquarters in New York, United States.
Represented by Vice President Kashim Shettima at the high-level annual global event, he stressed the dangers of digressing from multilateralism.
The Nigerian president drew the UN's attention to the global debt burden undermining the ability of countries and governments to meet the needs of their citizens. He also highlighted the fact that trade barriers and protectionist policies were destroying the hopes of nations, while uncontrollable competition was discouraging motivation and hampering global investments.
Tinubu stated, "Similarly, we must ensure that any reform of the international financial system includes comprehensive debt relief measures, to enable sustainable financing for development. Countries of the Global South cannot make meaningful economic progress without special concessions and a review of their current debt burden."
He called for the recovery of the proceeds of corruption and illicit financial flows, maintaining that the return of such funds to countries of origin "is a fundamental principle of the United Nations Convention against Corruption.”
The Nigerian president added, "Therefore, the international community must promote practical measures to strengthen international cooperation to recover and return stolen assets and to eradicate safe havens that facilitate illicit flows of funds from developing countries to the developed economies."
He flayed the steep descent to singularity and nationalism, which, according to him, was undermining the quest for peaceful and collective resolution of global challenges, such as terrorism, climate change, poverty, food crises, hyper-inflation, nuclear proliferation, and grinding debt burden, among others.
in subsistence agriculture.
The employment-to-population ratio was 73.2 per cent, a decrease of 2.4 per cent compared to 75.6 per cent in the preceding quarter.
The ratio in urban areas was 69.5 per cent and 78.9 per cent in rural areas compared to compared to 71.1 per cent and 80.7 per cent, respectively, in the preceding quarter.
The proportion of workers in wage employment rose to 16.0 per cent in Q1 2024, indicating 3.3 per cent increase from 12.7 per cent in the preceding quarter.
According to the statistical agency, 20.1 per cent of males were in wage employment, compared to 12.1 per cent of females. Wage employment was also higher in urban areas at 21.8 per cent compared, to 8.1 per cent in rural areas.
The report said of the total workingage population in 2023, 84.1 million individuals were employed, including
the Institute for Peace and Conflict Resolution (IPCR) and Partners in commemoration of the International Day of Peace.
He pointed out that the struggle for power remained the major cause of conflicts in Africa.
Former National Chairman of Peoples Democratic Party (PDP), Uche Secondus, warned that 2027 might never come to political reality, because the ruling All Progressives Congress (APC) had murdered and buried the country's democracy.
But the national leadership of APC said Yiaga Africa, one of the agencies that observed the Edo State governorship election, was overreaching its
The Nigerian president expressed concern about the main objectives of the UN and how it could sustain the global body's relevance and resilience, stating that the pillars of the organisation are at risk of being broken against the principles of inclusivity, equality and cooperation, which it stands for.
Tinubu explained, "Today, these pillars of our organisation are threatened. They risk being broken by the relentless pursuit of individual national priorities rather than the collective needs of the nations that are assembled here today.
"While commitment to multilateralism offers us the surest guarantee of global action to address the existential challenges we face, singularity and nationalism are undermining the aspirations towards the peaceful and collective resolution of such challenges.
"From last year's summit, and, indeed, from previous years, we have carried over the numerous challenges of terrorism, armed conflict, inequality, poverty, racial discrimination, human rights abuses, food crises, hunger, irregular migration, piracy, global pandemics, hyper-inflation, nuclear proliferation, grinding debt burden, climate change, and a host of other vexations.
"The continued manifestation of these challenges testifies to our failings rather than to any lofty achievements on our part. Billions of dollars are being committed to the prosecution of wars and the fanning of the embers of conflict."
The president also reaffirmed "Nigeria’s steadfast commitment to the deepening of multilateralism," just as it did 65 years ago when it "joined the United Nations as the 99th member-state”.
Tinubu said, "We remain committed to that ‘desire to remain friendly with all nations and participate actively in the works of the United Nations’ as expressed by our founding Prime Minister, Sir Abubakar Tafawa Balewa."
Tinubu lamented the return of unconstitutional changes of government and forceful military coups in some African countries. He said these coups attested to how fragile democracy could become when not supported by economic development, and sustained peace and security.
20.6 million persons between the ages of 15 and 24.
The labour force participation rate among the working-age population declined to 77.3 per cent in Q1 2024, from 79.5 per cent in Q3 2023.
The employment-to-population ratio was 73.2 per cent in Q1 2024, which showed a decrease of 2.4 per cent compared to 75.6 per cent in the preceding quarter.
According to NBS, the combined unemployment rate and time-related underemployment as a share of the labour force population (LU2) decreased to 15.3 per cent in Q1 2024, from 17.3 in Q3 2023.
Also, the proportion of workers in wage employment in Q1 2024 in the review period stood at 16 per cent, amounting to a 3.3 per cent increase, from 12.7 per cent in Q3 2023.
Moreover, the percentage of youth Not in Education, Employment or Training (NEET Rate) increased to 14.4
election observer mission. APC said the civil society organisation (CSO) was now second-guessing the Independent National Electoral Commission (INEC) on the result of the Edo State election.
The ruling party’s warning came as party member and senator for Edo north, Adams Oshiomhole, yesterday said the outgoing governor of Edo State, Godwin Obaseki, had become politically irrelevant following the defeat of PDP in the September 21 governorship election.
Meanwhile, the United States Mission in Nigeria called on INEC and other stakeholders in the Edo State election to support the process of challenging the results.
He said that should be of utmost concern in deliberations at the highlevel segments of the 79th Session of the UN General Assembly, as the forceful changes of government had led to "the impatience in cities and villages”, which often slowed the wheel of democracy.
The president added, "Our people need employment. They need decent livelihoods. They desire good and affordable education and healthcare for their children and families. They need to live in healthy, safe and secure environments. They need hope and they need opportunity."
He called for reforms in the international financial architecture and a transparent multilateral trading system, expressing hope that "the adoption of the Pact for the Future" will change the narrative, reposition economies and translate into concrete
percent in response to the continued inflationary conditions in the economy.
The apex bank retained the asymmetric corridor around the MPR at +500/-100 basis points, and also adjusted other monetary policy tools, increasing the Cash Reserve Ratio (CRR) of deposit money banks (DMBs) by 500 basis points to 50 percent from 45 percent and that of Merchant Banks (MBs) by 200 basis points to 16 percent from 14 percent. The MPC retained the Liquidity Ratio (LR) at 30 per cent.
This was the fifth consecutive hike in interest rate, having been raised by 8.5 percent under the current leadership of the apex bank.
The outcome of the MPC meeting beat analysts' expectations that the committee would at least hold policy rates at current levels in response to the economic hardship faced by Nigerians.
However, addressing journalists at the end of the two-day meeting of the MPC in Abuja, CBN Governor, Mr. Olayemi Cardoso, said the decision to further raise MPR was unanimous among members of the committee in the face of unrelenting increases in prices of goods and commodities.
He said even though the latest figures showed that the central bank was heading in the right direction, the economy was currently not out of the woods yet, adding that the bank can't afford to take chances by
With 18.7%, Abia topped unemployment chart
per cent, indicating a 0.7 per cent rise. NBS also published the 2023 Annual Nigeria Labour Force Survey (NLFS), which put the working-age population at 116.6 million, representing 53.8 per cent.
Women accounted for 52 per cent of the working population, with men at 48 per cent. The headline unemployment rate at the national level stood 5.4 per cent in 2023.
At the state level, Abia recorded the highest unemployment rate at 18.7 per cent, while Nasarawa had the lowest at 0.5 per cent.
In terms of educational attainment, the unemployment rate was highest at 9.4 per cent among persons with post-secondary education. This was followed by those with secondary education at 6.7 per cent, and those with primary education at 4.1 per cent. The rate was lowest for those with no formal qualification at 3.2 per cent.
In 2023, national time-related
Speaking at the event, Jonathan said there was little technology could do to make right a fraudulent electoral process, as it could still be manipulated by corrupt human minds.
The former president was inducted as Fellow of the Institute at the programme, and he became the second individual to be so honoured, after former Head of State, General Yakubu Gowon, who oversaw the reintegration of Nigeria after the civil war, was given the award last year.
Jonathan, the only Nigerian president to hand over to an opposition party after he was defeated at the polls, said there was more tension after the Edo election than before it,
measures that provide solutions to the challenges faced by developing and least developed countries.
"It is for this and other reasons that we reiterate the call by countries, especially of the global South, for reform of the international financial architecture and promotion of a rules-based, non-discriminatory, open, fair, inclusive, equitable and transparent multilateral trading system," he stated.
On insecurity, Tinubu said the menace was plunging citizens into untold hardship and misery that, in turn, affected the people's confidence in democracy.
He emphasised that bringing back confidence in democratic governance and constitutional order was the duty of the international community.
relaxing its policy stance.
He said to attract investments into the economy, efforts must be sustained to achieve a positive real interest rate to enhance the economy's competitiveness for international capital, thereby improving the exchange rate.
He said the CBN would tighten monetary policy until things are put under control.
Cardoso, who read the committee's communique stressed that it would be difficult to address poverty amid a high inflationary environment.
The MPC, however, observed the moderation in headline inflation yearon-year in July and August 2024, and also acknowledged the relative stability and convergence in the exchange rate across the various market segments, resulting from CBN's tight monetary policy stance.
This, the committee believed was expected to improve confidence which would enable economic agents to plan in the medium to long term.
The CBN governor said the committee was unanimous in recognising that a lot more s required to actualise the bank's price stability mandate.
He said even though headline inflation trended downwards due to a moderation in food inflation, core inflation remained elevated, driven primarily by rising energy prices.
He said the uptrend posed severe concerns to members, as it indicated
underemployment stood at 11.1 per cent, with 8.3 per cent for men and 13.4 per cent for women.
Plateau had the highest time-related underemployment at 33.9 per cent, while Nasarawa recorded the lowest at 0.3 per cent.
The youth NEET rate was 15.6 per cent, with Abia recording the highest NEET rate at 38.1 per cent and Zamfara lowest at 4.5 per cent.
The annual Labour Force Participation rate was 76.3 per cent, equivalent to 88.9 million individuals.
Bauchi recorded the highest participation rate at 92.3 per cent, while Ekiti State had the lowest at 63.4 per cent.
Of the total working-age population in 2023, 84.1 million individuals were employed, including 20.6 million persons between the ages of 15 and 24.
The national employment-topopulation ratio was 72.2 per cent, with 77.3 per cent in rural areas and
due to the feelings that some things were not done rightly.
He stated that technology would not solve the problems in Nigeria's electoral process, because technologies could be manipulated if the human mind was corrupt.
"Here in Nigeria, we talk about technology. Without the human mind ready to do what is right, if we bring the technology, they will manipulate it," he said.
Jonathan said, “Actually, 10 top countries are in conflict globally. Three of them are in sub-Saharan Africa. And quite a number of countries around us, including us, are in one form of conflict or the other.
"And when you look at what causes conflict in Africa, most cases are struggle for leadership, contestation for power. And that is the main cause of conflict.
"Sometimes when you go through a society, and you can tell all kinds of stories. But by the time you do proper analysis, and dig deep, you know that most cause of conflict is leadership struggle. That is why I'm only worried about my country Nigeria.”
The former president, who chaired the occasion, said the notion that politics was dirty was wrong. He stressed that the players were responsible for the dirty state of politics in Nigeria and Africa, in general.
According to him, “People say politics is a dirty game. The way we play our politics is the way we want to play it.
"Remember (Olusegun) Obasanjo, the former president, recently made a statement that politics is not dirty but
the persistence of inflationary pressures.
Nonetheless, the committee reiterated the need to work in close collaboration with the fiscal authority to address the current upward pressure on energy prices.
The MPC noted the continued growth in money supply, recognising the need to curtail excess liquidity in the system as well as address foreign exchange demand pressures.
Members also expressed concerns about the growing level of fiscal deficit but acknowledged the commitment of the fiscal authority not to resort to monetary financing through Ways and Means.
Furthermore, members observed a strong correlation between FAAC releases and liquidity levels in the banking system as well as its impact on the exchange rate, and resolved to increase monitoring of future releases to address its effects on price developments.
On food inflation, it pointed out that the upside risks remained recent flooding, hike in energy prices, scarcity of PMS, and most importantly, insecurity in farming communities.
Cardoso said considering the weight of food in the CPI basket, the MPC recognised efforts of the federal government in addressing insecurity in farming communities and stressed the need to remain steadfast.
Statistician-General of the Federation/Chief Executive, NBS, Mr. Semiu Adeniran
while Rivers State recorded the lowest at 55.7 per cent.
the people that play politics, come to play politics with their dirty minds, dirty hearts and dirty character.
"And that is why people say politics is dirty. And in that case, we must all begin to think differently. We must cultivate the culture of peace."
He said Nigerians and Africans, in general, must start developing a culture of peace, stating that peace should be part of everyday life.
Jonathan stated, "Until we get to that level where we develop the culture of peace in this country, we will always have political conflicts in our election.
"And without us strengthening that effort, without us developing that culture of testing a nation peacefully, we will always be in conflict in Africa and in Nigeria."
While delivering his lecture, Head of Department of Peace and Conflict Studies at the National Open University of Nigeria, Dr. Samuel Iroye, said all Nigerians needed to play a part in the promotion of the culture of peace in the country.
Iroye said peace was not an ideology but a practical experience that could be felt. He called for the engagement of youths in developmental initiatives. Iroye said to achieve peace, there must be a level playing ground for everyone through education, stressing that the education curriculum in Nigeria does not promote the culture of peace.
“To ensure a culture of peace, we must ensure that we have peace within ourselves," he said, adding that no one can give what he does not have.
The committee also applauded the ongoing effort of the federal government to bridge the food supply deficit through the duty-free import window for food commodities.
The committee also expressed optimism that the lifting of refined petroleum products from Dangote refinery would moderate transportation costs and significantly support the easing of food price pressures in the short to medium term.
This, he said, was also expected to moderate foreign exchange demand for the importation of refined petroleum products, with a positive spillover on external reserve and improvement in the overall balance of payment position.
The CBN governor further disclosed that the committee assessed the performance of key financial soundness indicators and noted with satisfaction that despite familiar headwinds, the banking industry remains safe, sound, and stable.
The committee, however, emphasised the need to sustain supervisory oversight of the industry to strengthen its continued support of the economy. He said, "Following these considerations, members deliberated on the optimal policy option to sustain the downward trend in price development, contain emerging risks
At the 2024 N-BA ANNuAl lecture...
L-R: Honorary Secretary of the Nigeria-Britain Association (N-BA), Mr Tobi Asehinde; CEO of Baobab+, Mr. Kola Osinowo; Annual Lecture Subcommittee
Adeola; COO of Madecore Solar Storage, Mr. Toba Adenaike; Board Secretary/General Counsel of the Financial Reporting Council Nigeria, Mrs. Ezinwanne
Oyetayo; Chairman/CEO of SAGLEV Inc., Dr. Sam Faleye; CEO of Tangerine General Insurance Plc, Mr. Ademayowa Adeduro; and MD of Tangerine Health, Mrs.
Lecture held in Lagos....recently.
Council
President
The Attorney-General of the Federation (AGF) and Minister of Justice, Mr. Lateef Fagbemi, has observed that the full implementation of the Administration of Criminal Justice Act (ACJA) 2015 and the Administration of Criminal Justice Law (ACJL), would end the menace of “forum shopping” by criminals seeking to escape justice. Fagbemi stated this yesterday, at the
inauguration of the National Working Committee (NWC) on National Minimum Standards (NMS) for the Implementation of the Administration of Criminal Justice Monitoring Committee (ACJMC).
The 3-day event was organised by the Federal Ministry of Justice, in collaboration with the European Union-funded Rule of Law and AntiCorruption (RoLAC II) Programme of the International Institute for
Democracy and Electoral Assistance (International IDEA). International IDEA is the implementer of the Rule of Law and Anti-Corruption (RoLAC) Programme Phase II, being funded by the European Union.
In a keynote address, the minister who was represented by the Solicitor General of the Federation and Permanent Secretary, Federal Ministry of Justice, Mrs. Beatrice Jessy-Agba,
stated that the federal government enacted the ACJA in 2015, to ensure harmonious implementation of criminal justice reforms across the federation.
“The adoption of the Act by States also ensures that offenders cannot move from state to state to escape justice, a term commonly known as Forum Shopping.
“Thus, with the improved and uniform implementation of criminal justice reforms across the country, there
A leading advocacy group against child malnutrition in Nigeria, the Civil Society Scaling Up Nutrition in Nigeria (CS-SUNN) has said that the country is still far below the World Health Organization’s global target of at least 50 percent exclusive breastfeeding rate for the first six months of life by 2025.
Citing statistics from the 2018 National Demographic and Health Survey (NDHS), the organisation said that exclusive breastfeeding rates in Nigeria are still unacceptably low, at just 29 percent.
Michael
India has made another important leap in medicine as the Swachh Bharat Mission (SBM) or Clean India Mission, the Asian country ambitious national sanitation programme has contributed significantly to reducing infant and under-five mortality rates across the country averting 60,000 – 70,000 deaths annually.
A recent study published in Nature, world’s leading multi-disciplinary science journal, by leading experts shows that the Swachh Bharat Mission (SBM) or Clean India Mission, India’s ambitious national sanitation programme, has contributed significantly to reducing infant and under-five mortality rates across the country averting 60,000 – 70,000 infant lives annually.
The study, which utilized a quasiexperimental design, provides robust evidence linking increased toilet access under SBM with improved child survival outcomes.
Launched on 2nd October 2014 the birth anniversary of Mahatma Gandhi, by Prime Minister Narendra
On the issue of malnutrition, CSSUNN said that several barriers have continued to impede the effective implementation of plan to combat the scourge including inadequate financing, fragmented inter-sectoral coordination and poor accountability.
According to CS-SUNN’s trend analysis of nutrition budget in Nigeria (2019-2022), only 0.47 percent of the national health budget was allocated to nutrition in 2022, a figure that starkly contrasts with the recommendations from the World Bank for low and middle-income countries to allocate at least 5% of their health budgets to nutrition interventions.
Modi, SBM is one of the largest national behavioural change sanitation programmes in the world, aimed at eliminating open defecation by providing household toilets across India.
Through ‘Whole of Government’ approach, by making sanitation ‘everyone’s business’ and ensuring people’s participation, by 2020, the campaign realized construction of over 117 million household toilets, benefitting over 500 million people across 630,000 villages in India.
This progressed India towards SDG 6.2, which aims for adequate and equitable sanitation access for all, especially for women and girls.
The findings underscore the critical role of sanitation in improving child health and reducing mortality.
A United Nations Children’s Fund (UNICEF) study, 2019, showed that soil and groundwater sources in open defecation free villages were overall less contaminated compared to the villages that did not have 100 per cent toilet coverage. It was also calculated that an equivalent of 7.5 million fulltime jobs had been created by SBM.
The Co-chair of CS-SUNN, Aji Robinson who represented the Executive Secretary Sunday Okonkwo stated this in her presentation at the CS-SUNN & FHI360 Alive and Thrive at a Media Roundtable on Strengthening the Implementation of the National Multi-Sectoral Plan of Action for Food and Nutrition (NMPFAN) with Focus on Increased Nutrition Funding and Reinforcing the Breast Milk Substitute (BMS) Marketing Code in Nigeria held in Abuja on Tuesday.
Robinson said that, "29 percent breast feeding rate in Nigeria contrasts with the World Health Organization’s (WHO) global target of at least 50 percent by 2025. exclusive breastfeeding for the first six months of life".
She said that exclusive breastfeeding practice up to six months of life and continued breastfeeding up until two years with adequate complementary feeding has been proven to improve child survival
rates and nutrition outcomes.
In the statement, CS-SUNN expressed concern that the aggressive promotion of breast milk substitute formula has continues to undermine the practice and benefits of exclusive breastfeeding.
It said that Breast Milk Substitute Marketing Code, recently launched by the National Agency for Food and Drug Administration and Control (NAFDAC) was aimed at protecting breastfeeding by regulating the marketing of breast milk substitutes and improving infant and young child feeding (IYCF) practices in the country.
"Nevertheless, despite its endorsement and enforcement roles assigned to the National Agency for Food and Drug Administration and Control (NAFDAC), its full implementation is hampered by weak compliance and enforcement mechanisms, coupled with aggressive marketing practices by manufacturers of BMS," it said.
will be no escape route for criminals, which will, in turn, contribute to socio-economic development in Nigeria,” he said.
The AGF disclosed that the National Minimum Standards was developed as a tool to implement the ACJA and consolidate collaboration between stakeholders in justice delivery by ensuring that courts, both at the federal and state level, apply similar standards in the implementation of criminal procedures and enforcement of criminal justice.
He accordingly implored all the participants, members, and stakeholders to cooperate with the national working group so that they can achieve their mandate in bringing about the significant improvement
expected to be seen in the day to day dispensation of criminal justice.
“As I inaugurate the National Working Group today, I charge the members to work very hard to ensure the terms of reference of their engagement are actualised, particularly to address pertinent issues militating against harmonised implementation of the Administration of Criminal Justice Act as well as issues that affect the rights of individuals, such as the issue of persistent congestion of correctional centres in Nigeria.
“With concerted efforts of stakeholders, I hope that members will be able to deliberate and come up with pragmatic and innovative solutions to address these problems”, the AGF stated.
Subregion
Michael Olugbode in Abuja
The Economic Community of West African States (ECOWAS) has called on member states to mainstream gender into their trade policies to achieve the objectives of the African Continental Trade (AfCFTA), noting that until women, who make up half of the subregion population are fully integrated, the much-desired development may continue to be a mirage.
ECOWAS Commissioner for Economic Affairs and Agriculture, Mrs. Massandje Toure-Litse, made the plea at the opening of a regional meeting on trade and gender in Abuja
on Tuesday. She said that promoting inclusive subregional trade by empowering women in business was in line with regional approaches and guidelines, as well as international best practices. Toure-Litse while describing international trade as a powerful driver for wealth creation and development, lamenting that however women representing about 50 per cent of the global workforce is presently facing barriers to participating in it. She said: “Women-owned businesses often struggle to access export markets, and women workers are overrepresented in low-wage, lowskilled sectors.
The Nigerian Army yesterday absolved Colonel I.B Abdulkareem, and other personnel of alleged sexual harassment, intimidation and threat to live leveled against them by ex-female soldier, Ruth Ogunleye.
The Nigerian Army also claimed that report of its investigation revealed that ex-private Ruth Ogunleye is mentally unstable and has since been boarded and discharged from service.
Addressing a press conference at the Army Headquarters in Abuja on Tuesday, the Director Army Public Relations, Maj. Gen. Onyema Nwachukwu, said the Nigerian Army will not tolerate the defamation of its officers and soldiers, particularly
when it is based on falsehoods and driven by ulterior motives.
He said: "Today, the Nigerian Army deems it necessary to address a series of grave allegations, act of cyberbullying and the continued defamatory behaviour directed at a senior officer, Colonel IB Abdulkareem, and other personnel by Ex-Private Ruth Ogunleye in the social media, especially TikTok".
Nwachukwu said the ex-soldier has been relentless in her online campaign against Colonel Abdulkareem, a matter that the army can no longer overlook.
He averred that the Nigerian Army is a professional force committed to the highest standards of discipline, integrity and accountability,
adding that it is guided by rules and regulations that ensure every officer and soldier operate within the framework of respect for human rights and due process.
Noting that the Army takes every accusation leveled against its personnel seriously and has established procedures to investigate any claim made against its personnel, Nwachukwu said "the case of Ex-Private Ruth Ogunleye, who claims to be a former subordinate of Colonel IB Abdulkareem at the Nigerian Army Medical Corps Headquarters in Lagos, is no exception to our commitment to due process".
He said the investigation concluded that Colonel IB Abdulkareem
did not commit the offence of sexual harassment as alleged by ex-private Ruth Ogunleye. The findings, he said were definitive and based on objective evaluation of the available information.
He said the army maintained that Col Abdulkareem is a disciplined, regimented, and firm officer who has upheld the values of the Nigerian Army throughout his service. Further absolving the senior officer of any wrong doing, Gen Nwachukwu said: "The Nigerian Army stands firm in its commitment to maintaining discipline and order within its ranks. Colonel IB Abdulkareem is a dedicated officer who has served our nation with honour and distinction.
L-R: Key Account Manager, Dukes Healthcare Nigeria, Mr. Adams Katung; Consultant Neurosurgeon, Dukes Neurosurgery and Specialist Hospital, Dr. Festus Oshunpidan; Consultant Anesthetists, Dukes Neurosurgery and Specialist Hospital, Dr. Adekunbi Oshunpidan; and the Chief Operating Officer (COO), Healthcare Nigeria, Mrs. Damola Osundele, at the opening of Dukes Neurosurgery and Specialist Hospital Centre of Excellence for Neuroscience, Victoria Island in Lagos…recently
The federal government has saluted the National Media Complaints Commission (NMCC) for its landmark investigation which found Daily Trust's report on the Samoa Agreement to be inaccurate, misleading and in breach of the Code of Ethics for Nigerian Journalists.
Minister of Information and National Orientation, Mohammed Idris, disclosed this yesterday in a statement.
He said the Nigerian Media Ombudsman was impartial and thorough in its investigation saying the ruling serves as a testament to the importance of journalistic integrity and accountability.
In the statement issued by his Special Assistant, Rabiu Ibrahim, the minister described the ruling as a reminder of the crucial role the media plays in shaping public perception through truthful and accurate reporting.
"The public expects that news outlets will adhere strictly to professional ethics and conduct by ensuring that their reportage is factual, fair, and balanced. This way, injurious reporting such as the one done by Daily Trust could be effectively avoided.
"The federal government recognises that a free press is a pillar of democracy but with this freedom comes the responsibility to report
news in a manner that is accurate and devoid of misinformation. It is only through this commitment to truth that the media can effectively hold the government and institutions accountable," Idris said.
He said the ruling against Daily Trust would serve as a benchmark for journalistic excellence, and also strengthen the bonds between the media, the government, and the people of the Federal Republic of Nigeria.
He added the federal government appreciates the recommendations made by the NMCC, including the directive to Daily Trust to issue a public apology for its false report on the Samoa Agreement and take measures to prevent future occurrences.
The minister noted that the call for increased transparency and proactive information dissemination by Federal Government institutions was duly noted, assuring that steps will be taken to ensure that Nigerians were adequately informed about matters of public interest.
He reiterated the commitment of the federal government to fostering an environment where the media thrives and is also accountable to the ethical standards of the profession.
"We call on all media organisations to continue to uphold these standards and work collaboratively in the dissemination of accurate information, which is essential for a well-informed
and active citizenry," he stated.
The federal government few months ago, threatened to prosecute Daily Trust Newspaper for falsehood and inciting journalism
capable of gas lighting the country and causing regional disaffection after the newspaper reported that the Samoa Agreement, which the country signed on June 28, 2024 at
the Organisation of African, Caribbean and Pacific States (OACPS) secretariat in Brussels, Belgium, was to promote LGBTQ in the country. It also vowed to lodge a formal
complaint to the Newspaper Proprietors Association of Nigeria (NPAN), insisting there was nowhere in the document where LGBTQ agreement was mentioned.
Traditional rulers across the South East geopolitical zone converged in Umuahia Tuesday in their search for peace and tranquility in the zone.
The royal fathers, comprising zonal leaders and delegates from each of the five states of the South East, said that their major agenda for the meeting revolves around finding workable solution for the security problems in the zone.
Governor Alex Otti addressed the opening session of the royals’ meeting, urging the traditional institution to rise up to its role as a stabilisation agent in the communities.
He frowned at the crisis often sparked by the selection of traditional rulers in some communities, saying that such ugly developments erode
the capacity of the royal fathers to bring peace in their domains.
According to him, "there is a lot of in-fighting, war, destruction of property" that accompany the emergence of some traditional rulers, warning that "it should not be that way".
"Every community should have a peaceful process of selecting its traditional ruler," Otti said.
He advised that possession of wealth, government support and other mundane criteria should have no place in the selection of traditional rulers.
Otti urged the royal fathers to emulate Abia State in their attitudes to leadership, saying that "here in Abia we regard leadership as stewardship".
He said that "every leader is answerable to the people" hence
his government works for the interest of the people, adding that a leader should also be a good listener.
Earlier in a chat with journalists, the Chairman of Abia State Council of Traditional Rulers, HRM Eze Linus Mba Nto, explained the agenda of the meeting, saying that the royal fathers want peace in the South East.
He said that the traditional rulers of South East would not relent in their quest for peace and stability not only in their zone but throughout Nigeria "because without peace there will be no development".
The Human Rights Writers Association of Nigeria (HURIWA) has raised concerns about President Bola Tinubu's directive to establish a Disaster Relief Fund, arguing that it unnecessarily duplicates the existing Ecological Fund, which is already set up to address environmental issues such as flooding.HURIWA described the move as both wasteful and prone to mismanagement, urging the federal government to focus on properly managing the Ecological Fund rather than creating new mechanisms for disaster relief.
The announcement of the Disaster Relief Fund came following the Federal Executive Council (FEC) meeting on Monday, where the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, disclosed that
the fund would be geared toward addressing disasters exacerbated by climate change, such as the recent devastating floods in Maiduguri, Borno State.
According to Edun, the increasing frequency of such disasters justifies the need for specialized funding to meet the emerging challenges posed by environmental disasters.
However, HURIWA, in a statement, by the National Coordinator Emmanuel Onwubiko emphasized that the Ecological Fund - established by law under the Federation Account Act of 1981- is designed specifically to address such ecological problems, including floods.
“Flooding is a direct ecological issue, and we already have the Ecological Fund in place to handle such matters,” HURIWA stated.
The group further pointed out that the Ecological Fund constitutes
1% of the Federation Account and is managed by the Office of the Secretary to the Government of the Federation (SGF).
HURIWA criticized the federal government for what it perceives as a hasty and potentially redundant approach. "The establishment of a new Disaster Relief Fund is unnecessary when the Ecological Fund can be adequately utilized to address the same issues," the group stated.
The organization argued that instead of creating new funds, the government should ensure that existing ones, such as the Ecological Fund, are properly managed and funded effectively.
HURIWA alleged that politicians have historically diverted funds from the Ecological Fund for personal use, including campaign financing, and that the establishment of new funds only increases the risk of mismanagement.
“This Ecological Fund has been the target of looting by politicians. The office of the SGF is in charge of that fund, and it is their primary responsibility to ensure its proper use. Creating a new fund under the guise of disaster relief opens up more avenues for corruption,” the statement added.
The human rights group called on the government to focus on building institutional mechanisms that ensure transparency and accountability in the management of the Ecological Fund.
According to HURIWA, if the funds for ecological problems such as erosion and flooding had been properly utilized in states, many of these long-standing environmental issues could have been resolved.
“Governors in affected states must be held accountable for failing to use the Ecological Fund as intended,” HURIWA asserted.
Alex Enumah in Abuja
Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has ordered the immediate investigation of bribery allegations imputed to some officers of the Commission by Idris Okuneye (aka Bobrisky) in a viral video circulating across the country.
The controversial cross dresser had alleged in the video powered by Martins Vincent Otse (a.k.a VeryDarkMan) that some unnamed officers of the EFCC collected the sum of N15,000,000 (Fifteen Million Naira only) from him to drop the money laundering charges against him.
However, a statement from the Commission, signed by the Head, Media and Publicity, Mr Dele Oyewale, last night, disclosed that the EFCC’s boss had constituted a team of investigators
The leader of the Abia royal fathers council stated that if the IPOB leader is set free it would make the business of restoring peace in the South East easier both for government and the traditional institution.
According to him, once the agitation cover is removed from the criminals, they would be picked out and dealt with as the law stipulates thereby resolving the security problems.
Eze Nto appealed to the federal government to release the detained leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu in order to untie the knotty security issues in the South East. He said that with Kanu still in detention, it would continue to be difficult to segregate Biafra agitators from pure criminal elements that hide under the separatist umbrella to fuel insecurity.
to critically look into the allegations.
"To this end, the commission hereby invites both Okuneye and Otse to make themselves available at its Lagos Directorate to assist investigators unearth the alleged bribery.
"The EFCC wishes to assure the public that the allegations would be thoroughly investigated and the result of the findings made public accordingly," the statement read.
It added that the commission was committed to its core values of integrity, courage, professionalism and collaboration at all times.
The 33-year-old Instagram celebrity was in April convicted and jailed for six months without the option of a fine by Justice Abimbola Awogboro of the Federal High Court, Lagos, for abusing the naira.
He was released on August 5, 2024, after completing his prison term.
Emmanuel Addeh in Abuja
The United Nations Subcommittee on Prevention of Torture (SPT) has regretted what it termed the refusal of Nigeria to cooperate during its recent visit to the West African country.
The UN subcommittee said it visited Nigeria for the second time from 8 to 19 September 2024 to assess the treatment of individuals in detention.
A statement from the organisation further stated it sought to know whether the country had strengthened its capacity to protect the human rights of people deprived of liberty, including through the proper functioning of a National Preventive Mechanism (NPM).
“The delegation regrets the lack of cooperation from Nigerian authorities, during and prior to the visit. We were
confronted with a climate of hostility and faced access issues in several places of detention.
“ Receiving the SPT’s visit and allowing it to exercise its mandate without obstruction is an international obligation under the Optional Protocol to the Convention against Torture (OPCAT) which Nigeria ratified in 2009,” the head of the delegation, Shujune Muhammad, said.
The SPT delegation said it visited numerous places of deprivation of liberty, including detention facilities for men, women and children, police stations, criminal investigation departments, as well as facilities run by agencies combating drug and people trafficking, among others.
“The situation in most places of detention is abysmal. Nigeria must urgently take measures to prevent
torture and ill-treatment, and to improve conditions of detention, especially in police stations and other similar facilities.
“Legal safeguards must be immediately implemented, and the current impunity of perpetrators for acts of torture must end,” she said.
The delegation said it also met with the Minister of Justice, parliamentarians, judges, prosecutors, and other relevant authorities, the Bar association, civil society organisations, and UN agencies.
“It has been 10 years since the first SPT visit, and Nigeria is yet to establish a functional national preventive mechanism. This unfortunately shows that the prevention of torture and ill-treatment is not taken seriously by the State party, and the horrific situation we have documented speaks to this.
“We urge authorities to urgently finalise the establishment of an independent functional preventive mechanism,” said Muhammad.
At the end of the visit, the delegation stated that it presented its confidential preliminary observations to the Government of Nigeria, highlighting its serious concern about the lack of commitment from authorities in preventing widespread torture, ill-treatment and in improving conditions of detention.
Following its visit, the subcommittee noted it will send Nigeria a confidential report containing its observations and recommendations and encouraged the state party to make it public, to facilitate implementation.
The SPT delegation included Aisha Shujune Muhammad (Maldives) Head of the delegation, Satyabhooshun
Onuminya Innocent in Sokoto
The Chief of Army Staff, Lt. General Taoreed Lagbaja, has assured troops of operation Hadarin Daji, of continuous support in the provision of needed logistics and guidance for the success of their operations.
He made this known on Tuesday while declaring open a one-day seminar on warrior ethos, with the theme "Optimizing Warrior Ethos in the Nigerian Army; A Panacea for Operational Effectiveness", organized by the Department of Army Transformation and Innovation.
Represented by the Acting GOC, 8 Division, Brigadier General Ibikunle Ajose, he said the seminar is one of the many measures emplaced to mitigate the challenges faced by the troops while operating in a volatile, uncertain, complex and ambiguous security environment.
According to him, "I can assure you of my continuous support to provide the much-needed logistics and guidance required for the execution of your tasks.
"The Nigerian Army has continued to review its tactics, techniques and procedures in order to come up with both kinetic and non- kinetic strategies to defeat these challenges.
"This seminar was therefore premised on the need to improve
the capacity of NA personnel towards enhancing warrior ethos and the battle- winning mentality.
"It will also highlight the threats of chemical, biological, radiological and nuclear terrorism in Nigeria.
"In addition, the prevailing incidence of drug and substance abuse among troops deployed in theatres of operation has become quite worrisome and necessitates troops' awareness in a bid to enhance combat effectiveness."
He urged commanders at all levels to continue to come up with innovative ideas to upscale their approaches towards improving man - management and battle readiness, which he said is in line with his Command Philosophy for the Nigerian Army.
Lagbaja commended the Department of Army Innovation and Transformation for organizing the seminar, which he said will raise necessary operational and situational awareness of the troops.
He added: "I implore you all to remain innovative and committed".
"By so doing, you will have helped to raise the standard that the Nigerian Army requires to deliver on its constitutional mandate. This event is therefore timely and will avail participants a better understanding of the key issues to improve on operational effectiveness."
He commended President Bola
Tinubu for his continuous strategic guidance and invaluable support to the Nigerian Army. He further assured the nation of the unalloyed loyalty of the officers and men of the Nigerian Army under his watch to the President, Commander-In-Chief and the Constitution of the Federal Republic of Nigeria.
Earlier the Chief of Transformation and Innovation, Major General Zakari Abubakar, assured the COAS that the department will continue to direct,
engage and not relent on its oars towards the realization of pillars of the COAS command philosophy.
He said the theme of the seminar is equally captures the desire of the Nigerian Army to rejig the fighting spirit of its personnel.
"The seminar is therefore organized to optimize the leadership capacity of junior and middle-class officers as well as to intensify warrior ethos and check the menace drug and substance abuse among the troops."
Gupt Domah (Mauritius), Andrew Christoffel Nissen (South Africa), and Victor ZAHARIA (Moldova), accompanied by two Human Rights Officers from the Office of the High Commissioner for Human Rights.
The subcommittee on prevention of torture monitors states parties’ adherence to the Optional Protocol
to the Convention against torture, which to date has been ratified by 94 countries. The subcommittee is made up of 25 members who are independent human rights experts drawn from around the world, who serve in their personal capacity and not as representatives of States parties.
This Hardship is Too Much, Bring Succour to Nigerians, Senator Orji Kalu Begs Tinubu
Sunday Aborisade in Abuja
Chairman, Senate Committee on Privatisation, Senator Orji Uzor Kalu, has urged President Bola Tinubu, to call an emergency meeting of his economic team and come up with strategies to urgently address the current biting hardship in the country.
Kalu, who is representing Abia North Senatorial District, made the appeal yesterday while addressing questions from journalists, who ambushed him at the federal parliament.
The former governor of Abia State attributed the cause of the current hardship to removal of fuel subsidy but was quick to explain that it was the best way to go.
He suggested that the federal government should come up with economic plans that would make life bearable for the poor masses.
“Even in my village, everywhere I go, companies, everybody, there is
hardship, but I appeal to the federal government, the president to know how he can bring succor quickly to the people of Nigeria.
“He has to do something not yesterday, but today. He must do something like yesterday because the condition of the Nigerian people is not too good.
“I believe that no president in the world elected by people would want his people to suffer. I'm not in the economic team, I have not seen the president or anyone to ask but this is what (return of subsidy) has caused.
“The president has to sit with his economic team to discuss, but the decisions he has taken is what no president in the 60 years of the republic, no president has been able to take that decision.
“The hardship is true, people are suffering. We have hundreds of thousands of workers, we have about 10,000 workers in our group that we run.”
Francis Sardauna in Katsina
Governor Dikko Umaru Radda of Katsina State has ordered the immediate amendment of the state's Penal Code Law to make provision for effective punishment of terrorists’ informants and other terrorism-related offences in the state.
Radda disclosed this Tuesday while declaring open a two-day capacity building workshop for stakeholders in the criminal justice system organised by the state Ministry of Justice.
He explained that the state is currently faced with security challenges, hence the need for the modification of the penal code law to provide stiffer punishments for terrorists’ informants and their sponsors.
He said: “I have given directives to the office of the State Attorney General and Commissioner for Justice to amend the Penal Code Law to make provision for effective punishment of informants and other accomplices of the offences of banditry, kidnapping, among
other things.”
Governor Radda reiterated that the administration of criminal justice plays a pivotal role in sustaining social order, cohesion and protecting individuals’ rights by addressing challenges and implementation of workable solutions.
He said building the capacity and enhancing the skills of critical stakeholders in the administration of justice for efficient and effective service delivery remain the cardinal objectives of his administration. He stressed that his administra-
tion has revamped the state judicial system and it was committed to ensuring that justice is served for the betterment of the state and the country at large.
The governor therefore urged all the participants to pay attention and make robust contributions to the discussions and issues to be raised during the two-day capacity building workshop. According to him, “Let us work together to build a more effective and just administration of criminal justice law in Katsina state.”
The trial of the detained leader of the proscribed Indigenous People of Biafra (IPOB), Nnamdi Kanu, yesterday, suffered a major set back as the trial judge, Justice Binta Nyako, withdrew from the case following Kanu’s demand that she recused herself.
Hope of a speedy conclusion of the trial was dashed, when to the surprise of everyone Kanu, who have been in custody of the Department of State Service (DSS) for over three years asked the number two judge of the Federal High Court, Abuja, to recuse herself from his trial.
Kanu’s trial in the last three years have gone all the way to the Supreme Court, where he was ordered to
stand trial on seven out of the initial 15-count charge brought against him by the federal government.
At yesterday’s proceedings, while his lawyer, Mr. Alloy Ejimakor appealed to the judge to suspend the trial on grounds that Kanu was denied the opportunity to prepare his defence, the IPOB leader suddenly sprang up from where he sat inside the dock and ordered his lawyer to sit down.
“Sit down! I say you should sit down!” he shouted.
Turning towards Justice Nyako, the defendant said, “My Lord, I have no confidence in this court any more and I ask you to recuse yourself because you did not abide by the decision of the Supreme Court.”
Kanu explained that he would
AT 79 TH un GA, T I nubu S EE kS D E b T f or GI v E n ESS for nIGE r IA , D E v E lo PI n G nATI on S
Tinubu stated, "We cannot build durable societies with the threat of terrorism, banditry and insurgency growing in our countries and regions.
“Indeed, violent extremism remains an existential threat to both national and international peace, security and development. We are making concerted efforts to contain and roll back this threat."
He assured the gathering that the "High-Level African CounterTerrorism Meeting hosted by Nigeria in April 2024 and its outcome – ‘The Abuja Declaration’ – promises to provide solutions to the challenges presented by terrorists and insurgents."
Warning against the dangers of climate change, he described it as a driver of insecurity that posed a veritable challenge to sustainable development.
The president recalled the recent devastating flood in Nigeria, which submerged large areas of the country, "including one of our largest cities, Maiduguri, in the North-east."
Tinubu implored the international community to stick to the implementation of the commitments made at the various COP (Conference of Parties) meetings of the United Nations Framework Convention on Climate Change (UNFCCC). He pointed out that failure to do so would amount to postponing the inevitable, as no country was immune from the effects of climate change.
The president observed that conflict prevention was the main reason the UN was established, but regretted that the task of preventing conflicts had become arduous following their normalisation, "when even the condemnation of violence and civilian casualties, and calls for
a ceasefire, are somehow regarded as controversial."
He listed some of the root causes of conflicts to include poverty, hunger, ignorance, inequality and exclusion, as well as other forms of injustice, just as he cited the conflict in Sudan and the war in Gaza and other Palestinian territories.
He stated, "What this tells us is that the international community has failed to live up to the spirit and aspirations of the United Nations to rid the world of inequality, violence and domination of one people by another. Justice is antithetical to revenge."
Tinubu insisted on bold reforms in the UN Security Council with a view to giving Nigeria and other African countries permanent seats at the council. He stressed that it had become imperative for the UN to strengthen its relevance and credibility in a rapidly changing world.
Tinubu stated, "Some permanent members of the United Nations Security Council have offered encouraging, if tentative, indications of support on the issue of reform of the Council. We welcome the change in tone and urge an acceleration in momentum to the process.
"The Security Council should be expanded, in the permanent and non-permanent member categories, to reflect the diversity and plurality of the world. We fully support the efforts of Secretary-General Guterres in this regard.
"Africa must be accorded the respect that it deserves in the Security Council. Our continent deserves a place in the permanent members category of the Security Council, with the same rights and responsibilities as other permanent members."
have understood if it was the DSS refusing to obey a court order, “but for this court to refuse to obey an order of the Supreme Court is regrettable.”
He maintained that the federal government had no jurisdiction to try him on terrorism allegations.
“I demand that you immediately recuse yourself from this matter. The federal government of Nigeria has no jurisdiction to prefer terrorism charges against me. You know the truth but you don't want to say it," he said.
While accusing the judge of being biased against him, the Biafra nation
ATHA n: E D o Gub E r
Director General of IPCR, Dr Joseph Ochogwu, said peace was an orphan, adding that people like to enjoy it but do not want to invest in it.
APC Has Buried Nigeria’s Democracy, 2027 Won’t Come, Ex-PDP Chair, Secondus, Says Reacting to the outcome of the Edo State governorship election, Secondus said every indication showed that the ruling party was on a mission to murder and bury democracy in Nigeria.
He said what took place in Edo State last weekend was an electoral fraud exhibited without regard to the rule of law and respect for the voters.
Secondus stated, “From the results of all the off-cycle elections conducted in Imo, Kogi, and Edo states, the Professor Mahmoud Yakubu-led Independent National Electoral Commission (INEC) is not showing any remorse for the show of shame they conducted in 2023 that threw Nigeria under the bus.
“And with the shameless boast of the APC national chairman, Abdullahi Ganduje, that they will apply the Edo template in other forthcoming off-cycle elections in Ondo and Anambra states, it is very obvious that 2027 will not even come, as the ruling party’s agenda is to create a one-party state by muzzling the opposition.
APC to Yiaga Africa: Quit
Second-guessing INEC On Edo’s Governorship Poll Results
APC warned Yiaga Africa to stop overreaching its election observer mission by second-guessing INEC on the result of last Saturday’s governorship election in Edo State.
National Publicity Secretary of APC, Felix Morka, in a statement yesterday, said the people of Edo State were loud and clear in their choice of Senator Monday Okpebholo as the next governor to lead the state into a new era of peace, unity, people-centred
agitator submitted that he could only be charged with any criminal offence at the United Kingdom where the alleged offence was committed.
Responding, the federal government through its lawyer, Chief Adegboyega Awomolo, SAN, vehemently objected to Kanu’s demand that the Judge should recuse herself from the trial.
Awomolo argued that Kanu’s outburst in the open court was just an observation in the face of the Supreme Court order that he should be prosecuted in the remaining seven count charges against him.
development, and prosperity for all.
Morka stated that alleging that results were manipulated without hard facts and figures was a disservice to the democratic process.
He stated, “In its jostle for headline attention, Yiaga Africa, one of the many civil society organisations accredited by the Independent National Electoral Commission (INEC), is overreaching its election observer mission to second-guess INEC on the result of last Saturday’s Edo State gubernatorial election.
“INEC is the sole statutory authority for the conduct and declaration of result of the election. Yiaga Africa is not, and must desist from constituting itself into a parallel agency for the declaration of election result.
“Alleging that results were manipulated without hard facts and figures but based on some statistical guess work is a clear disservice to the electoral process.
“Yiaga Africa's report is a travesty, replete with methodological flaws, politicised observations, inconsistencies, inaccuracies, and called its credibility into question.”
The ruling party stressed that election observer missions were not election management agencies and could not usurp INEC’s statutory authority as the sole election management body in Nigeria.
Morka added that trying to take over INEC’s role constituted a clear breach of the Electoral Act and the Constitution of the Federal Republic of Nigeria.
He maintained that while election observer missions, like Yiaga Africa, were at liberty to share their observations about the election process with INEC and the general public, declaring election result or second guessing result declared by INEC in performance of its statutory duties fell beyond their observation mandate.
“Declaring or second-guessing the Edo State gubernatorial result based on unsubstantiated, unverified, highly questionable statistical parameters
The senior lawyer urged the court to discountenance Kanu’s submissions and allow him to proceed with his case.
But Nyako disagreed with Awomolo, stating that she would prefer another judge to handle the trial, notwithstanding judgement of the Supreme Court.
“I don’t have problems recusing myself. In fact, I will be happy to do so. If a defendant can shout his own lawyer down, held up proceedings in this way, what is then left for the court?
“I have more than 700 cases in
created by Yiaga Africa for Yiaga Africa is designed to create unnecessary confusion and the appearance of a parallel election process,” Morka alleged.
Oshiomhole: Obaseki is Politically Dead
The senator for Edo north, Adams Oshiomhole, said the state governor, Godwin Obaseki, would become politically irrelevant following the outcome of Saturday’s election.
Speaking on “Politics Today”, a programme on Channels Television, Oshiomhole said the PDP governorship candidate, Asue Ighodalo’s loss should sound the death knell for Obaseki’s political career.
The former governor of Edo State also faulted Obaseki for visiting the INEC office in Benin City as the commission prepared to commence collation of results.
Oshiomhole said, “I was a governor.
Once I finish voting, if I like I’d wait at the polling booth a bit, chat with people and then I go home. If I find that my appearance is attracting more attention, I just quietly head home.
“How can a sitting governor go to a collation centre? To intimidate or possibly influence the results or to change the results? What was he doing there? How can a governor go to a collation centre when collation is going on?”
Obaseki had said his mission to the INEC office was to find out why the electoral umpire had not commenced collation.
Oshiomhole also criticised the outgoing governor for labelling the election a “do-or-die affair” days before the polls.
Oshiomhole stated, “Obaseki said the election was a do-or-die affair. He told you that here. He insisted. Now, the people have done it, he’s dead. Now, the people have done it, I guess he’s politically dead. I know so. The verdict is out.
“So, if you can speak good gram-
my docket to attend to, Kanu’s own is just one of them. Let him go to another judge. I have delivered 24 rulings in this matter alone,” the judge said.
In her ruling, the Judge subsequently recused herself and ordered that the case file be returned to the Chief Judge of the federal high court, Justice John Tsoho for re-assignment to another judge. Meanwhile, Kanu has been taken to the DSS custody for continuation of his detention till the Chief Judge would reassign the case to another judge.
mar because you sit on a board, nobody knew how you became a board chairman… Edo people have spoken.
“When a man goes to a village and speaks his dialect, he has more impact on those communities than when you speak high profile English that when you finish, people will ask ‘what did he say?’
“Monday communicated with the Edo electorate and it worked. The mistake you TV hosts make — many of you — is to assume that anyone who doesn’t appear before you… you exaggerate the importance of television viewers.”
Oshiomhole described the governorship poll as “free and fair."
The United States Mission in Nigeria called on INEC to support the procedure for challenging the results of last Saturday’s governorship election in Edo State.
The US Ambassador to Nigeria, Richard Mills Jr., yesterday, said the American government also called on the people of Edo State to remain calm. Mills said, “The US Mission in Nigeria commends the people of Edo State for the widely peaceful conduct of gubernatorial elections on September 21 and reiterates calls for calm following the announcement of results.
“We commend Governor (Godwin) Obaseki’s appeal for peace and urge all stakeholders, including INEC, to support established electoral processes and respect legal procedures to challenge results.
“Transparency and due process are crucial to maintaining public confidence in any democratic system. The United States reaffirms our commitment to supporting free, fair, transparent, and credible elections in Nigeria and will continue to monitor the situation closely.”
Deji Elumoye in Abuja
Nigeria has solicited the support of Finland in its pursuit of a permanent seat at the United Nations (UN) Security Council.
The most populous country in Africa, and the world's sixth-most populous nation, has already indicated interest in the UN's Security Council seat following calls for reforms and expansion of the Council by some
UN member countries.
Vice President Kashim Shettima, who appealed for Finland's support said Nigeria remains a super force in Africa and would do all within its reach to close cultural links and ties
in the effort to reunite the Economic Community of West African States (ECOWAS) and further leave no stone unturned in the quest to stabilise Africa.
Speaking on Tuesday during a
Linus Aleke in Abuja
The Nigeria Police Force, yesterday, presented cheques totalling five billion, seven hundred and fiftyfour million, two hundred and ninety thousand, four hundred and eighty-six naira, thirty-eight Kobo (N5,754,290,486.38), to families of deceased police officers, who have selflessly given their lives in service to the nation.
Presenting the cheques to the families at the Force Headquarter in Abuja, the Inspector General of Police, Kayode Egbetokun, said this was the largest disbursement ever in the history of cheques presentation to family members of deceased police officers. He stated that the disbursement reflected police’s commitment to easing the burden on the families of fallen colleagues.
"These disbursement covers payments for insurance policies for the years 2018/2019, 2021/2022, 2022/2023, and 2023/2024.
“The policies include the Group Life Assurance, Group Personal Accident Insurance, the Inspector-General of Police Family Welfare Scheme, and the Group Life Assurance Death Benefit Arrears for the uninsured period of 2021/2022," he stated.
CBN M AINTAINS Mo N e TA rY T I g HT e NIN g r eg IM e, rAIS e S MP r FurTH
to inflation, stabilise the exchange rate and safeguard the banking system while also shielding the recovery of output growth.
In addition, members noted that the real policy rate remained negative even after the recent moderation in headline inflation.
He said, "Following a review of the upside risks to price development and the downside risks to the recovery of output growth, the committee opted to tighten policy further, to safeguard the gains already accrued in moderating inflationary pressure."
Asked about the impact and achievements of the central bank under his watch within the last one-year when he assumed office, the CBN governor, painted the sordid state of the economy when he took control, adding that recent policy interventions had repositioned the economy.
He said, "Exchange rates is a lot more flexible and people are more able to transact their businesses through willing buyer, willing seller as opposed to a situation where multiple exchange rates discourages or does not enable that to happen. So, that has helped in no small way.
"And, of course, the moderation, the multiple hike in exchange rates. The multiple hikes in interest rates have also helped to moderate the inflation that I spoke about earlier. Don't forget that here was a situation where the exchange rate was running at an incredible pace.
"And people had lost confidence or were beginning to lose confidence in the currency. We believe that these multiple hikes have helped people to now begin to take a different look at their currency."
Cardoso said, "And there's a greater incentive to hold Naira as
opposed to a situation that we had before where this was not the case. Of course, we've ensured that the market operates more flexibly. Because you see, in all this, the encouragement for people to transact in our market has got to be when the confidence has been built up.
"And we believe that that's what we have been able to do through clearing the backlog of $7 billion that I mentioned to you earlier. And being a lot more transparent in operations which, by the way, includes what we are doing here.
"The fact that we are having this discussion, the fact that we are opening up the various things that we are doing, gives confidence that there's greater transparency in the way and manner in which we are carrying out our business."
Cardoso admitted that the bank's tightening policies were tough, pointing out that the bank had no choice but to deploy these tools to ensure that it reigns in the excess liquidity that has been in the system, including high inflation that resulted from excess liquidity.
He said there was need to encourage portfolio investors, those who are outside and have taken flight, to come back into the economy.
Specifically, the CBN governor said under his watch, the apex bank had done a great deal in restoring credibility to the central bank and regaining the trust in the institution, a development that had attracted positive ratings from global rating agencies.
He said, "We are not there yet. It is a continuum. But without the success of rebuilding back the trust, all the other things that we want to credit ourselves with having done or wanting to do will not happen.
"And that is part of the reason I mentioned earlier on. And I was asked this at a particular forum I went to. Why did you prioritise paying back the backlog? Why did you do that? Why couldn't you have sort of found a way to stretch it out over a period of time? And the answer to that, quite frankly, is that it's part of the building of trust process.
"People have to trust you. They have to know that irrespective of what has happened, there's somebody in the saddle who is looking at things in a very dispassionate manner and will come to conclusion that are in the best interest of all.
"That is very important. And that is another thing that I will talk about, which is in the process of doing all these things we've done. We decided it was important to refocus the mandate of the central bank to orthodoxy.
"We are fully engaged in getting ourselves out of unorthodox means of running the central bank. And I've spoken about this on several occasions. It is all part of focusing on a core mandate which essentially will moderate prices as we have begun to see the results and will eventually result in price discovery on the foreign exchange side.
"These are all linked together. You cannot take one without the other. And I must say that a year later, I'm very pleased to note that the rating agencies, for example, have given us a more positive rating than when we came in."
He said, "And that in itself, as far as I can see, speaks volumes. Because, again, the rating agencies are not one given to emotion. They come in, they look at your books, they look at your numbers, they ask you the right questions, they see your
He said the Group Life Assurance Scheme and the IGP Family Welfare Scheme were created to provide welfare support and financial succour to the families of deceased officers.
"While we know that no amount of money can replace the loss of a loved one, these schemes aim to offer some relief and help the families cope with their grief and the challenges they face. Policing a dynamic society like ours is quite demanding.
projections, and based on that, they rate you accordingly.
"And we so far have been positively rated. So, I can sit down here talking for the next hour about the great things that I believe I have done. I believe, again, we are not there yet.
And I accept the fact that many outside are finding things very difficult. They are finding it very difficult.
"But I want to say that the things we are doing are set to put the economy of this country in a trajectory where we shouldn't go back and see some of the inefficiencies we've seen in our system over the recent past.
"So, these I believe are short-term pains, and eventually we will get out of the situation we are in now. We have also been very careful concerning transparency around our operations. And for those of you who don't know, when we did the last foreign exchange intervention with rDAS, that was one of the reasons we used that, because we felt it was important at that time to send a very positive, transparent signal out for everybody to know exactly what is going on and how foreign exchange resources were being expended."
Meanwhile, reacting to the MPC decision, the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) expressed concerns over the decision to increase the MPR to 27.25 percent.
In a statement, the National President of NACCIMA, Dele Kelvin Oye, stated that the decision would heap more burden on businesses with higher loan costs, exacerbating their struggles and failing to curb inflation or stabilise the naira.
The statement read: “As President of NACCIMA, I express concern over the CBN's recent monetary policy rate
meeting with President of the Republic of Finland, Alexander Stubb, on the sidelines of the ongoing 79th Session of the United Nations General Assembly in New York, United States, Shettima said the support has become necessary given Finland's role as an European and NATO member and considering the role Nigeria has played over the years in entrenching democratic values and peaceful cohesion.
He said: "Nigeria has 25 years of uninterrupted democracy. And in President Bola Tinubu is a president with huge democratic credentials and commitment. With him in the saddle, Africa and the larger world would be safe, futuristic, acceptable and more peaceful".
On his part, President Stubb of Finland, expressed total support for the expansion and reconstruction of the UN Security Council, saying the
hike to 27.25 percent. This decision burdens businesses with higher loan costs, exacerbating their struggles and failing to curb inflation or stabilise the naira.
“We urge the CBN to engage stakeholders for a collaborative approach, considering alternatives like targeted sector support, deficit reduction, and promoting local production.
“A reassessment of strategies is essential to ensure effective economic management and sustainable growth in Nigeria. Dialogue and innovative solutions are crucial for repositioning our economy.”
He further noted, “The increase is 50bps. It is not a material change. The narrative is the trend upwards.
“This is a confirmation that the previous high interest rate has not worked.”
For its part, the Centre for Promotion of Private Enterprise (CPPE) described the MPC’s decisions as a very difficult monetary condition for most businesses to bear.
The Chief Executive Officer of CPPE, Dr. Muda Yusuf, in a statement titled, “September 2024 MPC Decisions Detrimental to Investment and Economic Growth,” noted that it was quite troubling that at a time when manufacturers, entrepreneurs and other investors in the economy were craving for a breath of fresh air, the CBN chose to tighten the noose on them by resorting to a further tightening of monetary policy.
According to him, “stifling the financial conditions to address liquidity issues is detrimental to investment and growth of the economy.”
Yusuf said the latest policy choice of the apex bank was at variance with the mood of most economic players
dictates and dynamics of the modern world demand such change.
He expressed Finland's continued desire to partner with Nigeria as well as opening new frontiers of development between both countries. In a related development, at a meeting between Vice President Shettima and the African Union Chairperson, Moussa Faki Mahamat, Shettima stressed the need for consolidation of democracy as well as peaceful collaborations.
The Vice President indicated Nigeria's interest in hosting the African Central Bank, maintaining that Africa has come of age to host one.
In his speech, the AU chairperson thanked Nigeria for its role in stabilising Africa, adding that the AU will continue to ensure that African stability and peace remain a priority for the body.
and the desire to promote economic recovery and growth. He said: “What manufacturers and other investors need at this time is some oxygen and stimulus, not policy measures that would worsen an already suffocating situation.
“MPR at 27.25 per cent; CRR at 50 per cent and asymmetric corridor at +500 and -100 are very difficult monetary condition to bear for most businesses, given the prevailing macroeconomic and structural conditions.”
Yusuf pointed out that the second quarter 2024 GDP numbers showed clearly that the economy was still in a floundering mode as many critical sectors of the economy such as manufacturing and other subsectors of the industrial sector such as cement, food and beverage, chemicals and pharmaceuticals, trade, ICT and real estate slowed.
He added that the road transport, motor assembly, publishing and motion pictures sectors contracted during the quarter while the aviation, oil refining, textile, livestock and quarry and minerals sectors were still in recession. Therefore, “tightening financial conditions in the circumstances does not seem appropriate.
“The private sector should not be made to pay the price of liquidity growth, which they were not responsible for. Issues of excess liquidity should be addressed within a causative context.
“The injection of liquidity into the system are largely public sector driven, as rightly noted by the CBN’s governor. Therefore, the focus of resolving it should be within that context.”
L-R: A beneficiary, Mr. Ossai Sunday; Delta State Governor, Rt. Hon. Sheriff Oborevwori, and the Commissioner for Economic Planning, Mr. Sunny Ekedayen, during the distribution of agricultural inputs to beneficiaries Under Result Area 2 FADAMA in Asaba…yesterday
Hammed Shittu
Furore over the outcome of the last Saturday local government council poll in Kwara State has continued as the Peoples Democratic Party (PDP) called for the total cancellation of the election.
The party, however, called for fresh election or else the electoral body would be made to face legal action to restore the stolen mandate of the people.
Also, a group of community leaders in Offa in Offa Local Government Area of the state led by Alhaji Abdullatif Kunle Ajeigbe has flayed the outcome of the election, describing it as a mockery of democracy.
Leadership of the Nigerian Army, 9th Brigade has restated commitment to strengthening inter-agency synergy with other agencies in Lagos State.
Brigade Commander of the 9th Battalion of the Army, Brigadier General Olawale Matthew Oyekola, yesterday said his regiment will not hesitate to lend a hand of support to the Lagos Task Force in any capacity if the need arises.
He added that the military will sustain the collaboration that is existing between his regiment and other sister agencies to further enhance security efforts across the state.
Brigadier General Oyekola gave the commitment during his courtesy visit to the Chairman of Lagos Task Force, CSP Adetayo Akerele.
According to a statement by Director, Press & Public Affairs, Gbadeyan Abdulraheem, Lagos State Task Force, discussions during the visit by the Army boss centred around strengthening the existing inter-agency synergy and
fostering a healthy partnership between the Nigerian Army and the Lagos State Taskforce.
He said conversation focused on the shared commitment to ensuring the safety and security of lives and property by both Agencies across Lagos State.
“The courtesy visit marks a continued commitment to operational cooperation and mutual support between the Nigerian Army and the Lagos State Taskforce,” the statement said.
The Army boss commended CSP Akerele for the impressive strides made in recent months, particularly in sanitising Lagos roads and ensuring a secure environment for all Lagosians.
Brigadier Oyekola, who was warmly received by Akerele alongside other senior officials of the agency, noted that the Nigerian Army stands ready to support the Lagos State Task Force in any capacity, should the need arise, and pledged continued collaboration to further enhance security efforts across the state.
James Sowole in abeokuta
The Ogun State Governor, Prince Dapo Abiodun, yesterday, disclosed that his administration would soon begin the disbursement of grants and facilities to the 236 Primary Health Centres (PHCs) across the state.
This, he said, would ensure that the PHCs meet the requirements of the World Health Organisation(WHO).
Abiodun stated this when he received the executive members of the National Association of Resident Doctors (NARD), who were in the state for their 44th Annual General Meeting and Scientific Conference.
He said: “We have grants and facilities from multilateral organisations that we are going to begin to expend very soon, which will allow us to have a minimum of 236 primary health care centers built in line with the requirements of the World Abiodun further
stated that his administration would continue to invest not just in primary health care centres, but also in secondary and tertiary health care institutions, adding that the state will also continue to invest in the training of doctors as well as in human capital development.
He noted that about 100 primary health care centres equipped with solar energy, digital communication equipment, and digital record-keeping systems for maintaining patient records have been renovated by his administration.
While adding that his administration has continuously paid the hazard allowances of doctors in the state, Abiodun also stated that he has approved the payment of the accoutrements and the Clinical Duty allowances.
The governor urged the association to continue to meet so they can share knowledge and experiences and come up with ways to improve the health sector.
However, a statement issued in Ilorin yesterday by the PDP, which was signed by the state party Publicity Secretary, Mr. Olusegun Olusola Adewara, also described the local government councils poll as
a “desecration of democracy, a waste of taxpayers’ money and an elevation of fraud to heights never witnessed before in the state.”
The party accused the All Progressives Congress
(APC) under Governor Abdulrahman Abdulrazaq of connivance with the Kwara State Independent Electoral Commission (KWASIEC) to manipulate the local government election and
subvert the people’s will. The party called for the immediate cancellation of the election and a conduct of a fresh poll, or it will explore legal means to restore the stolen mandate of the people.
The Niger Delta monarchs stated this while making their remarks at a stakeholders’ meeting organised by the PAP Office which involved the traditional rulers in Warri, Delta State. A press statement issued by the Special Assistant on Media to the PAP
Traditional rulers in the Niger Delta have assured President Bola Tinubu of their support for his administration’s policies and programmes that will foster peace, security and development in the region and the country in general. They also expressed their support for the Administrator of the Presidential Amnesty Programme (PAP), Dr Dennis Otuaro, describing his appointment as well-deserved.
Administrator, Mr Igoniko Oduma, yesterday stated that the meeting themed, ‘Working Together for the Sustainable Peace, Security, Stability and Development in the Niger Delta’ also examined the roles of traditional rulers in peace building, security and stability of the region.
According to the statement, speaking unanimously, the royal fathers of Tuomo kingdom, HRM King Justice F. F Tabai (retd); Kabowei kingdom, HRM King Peremobowei Erebulu; Agbon kingdom, HRM King Ogurimerime Ukori, CON; Akugebene-Mein kingdom, HRM King S.P Luke; and Ogulagha kingdom, HRM King Joseph Timiyan.
Managing Director, Sub-Saharan Africa, Project Management Institute (PMI), George Asamani, has stated that some factors are critical to curb the culture of abandoned projects in Nigeria and the rest of Africa.
In a statement Asamani said that while ineffective project management is not the sole cause of abandoned
Chinedu Eze
The Nigerian Consumer Credit Corporation (CREDITCORP) has expressed satisfaction with the successful roll out of the federal government’s consumer credit scheme targeting millions of Nigerians.
The Managing Director/CEO of
projects, it plays a crucial role in their outcomes.
He said: “Strengthening continuity and ensuring seamless execution, especially during political transitions, can significantly enhance project success. By improving oversight and accountability mechanisms, projects can be completed on time and within
CREDITCORP, Uzoma Nwagba, gave credit to President Bola Ahmed Tinubu, for his passion to empower everyday Nigerians by bringing this initiative to life and ensuring that consumer credit does not remain a privilege of the few but a right for the many.
budget, ultimately delivering the intended benefits to communities.”
Asamani stated that project management offers a structured approach to navigating the complexities of public infrastructure development. Through proper scheduling, resource allocation, and progress tracking, project management minimises delays and keeps projects on course. “One of its most critical benefits is fostering continuitycomprehensive documentation of decisions, budgets, and timelines ensures that new administrations pick up where previous ones left off without losing momentum,” he added.
“Under the pilot programme of the Nigerian Consumer Credit Corporation, five trusted financial institutions so far including FCMB’s Credit Direct (focused on civil servants), Wema Bank, Accion MFB, Letshego MFB, and Abbey Mortgage Bank, now offer consumer credit to help Nigerians tackle the growing financial pressure caused by rising costs of petrol and energy.
Through this pilot, everyday Nigerians start gaining access to cheaper credit (up to 50 per cent reduction in rates) to meet urgent household expenses, access cheaper energy solutions, and invest in their future. This is not merely about loans; it is about empowerment. You may learn more about these offerings, and apply, at credicorp.
Emmanuel Ugwu-Nwogo in umuahia
Traditional rulers across the South-east geopolitical zone converged on Umuahia, Abia State, yesterday in their search for peace and tranquility in the region.
The royal fathers, comprising the zonal leaders and delegates from each of the five states of the Southeast region, said that their major agenda for the meeting revolves around finding workable solution for the security problems in the zone.
urging the traditional institution to rise up to its role as stabilisation agent in the communities.
Abia State Governor, Alex Otti, addressed the opening session of the royal meeting,
Ayodeji Ake
The National Agency for Food and Drug Administration and Control (NAFDAC) has successfully conducted a comprehensive mop-up operation across several key markets in Maiduguri, Borno State.
This initiative was aimed at removing drugs and food items contaminated by the recent floodwater to prevent their re-introduction into sales as part of market control strategy, thereby preventing possible outbreak of diseases.
He frowned at the crisis often sparked by the selection of traditional rulers in some communities, saying that such ugly developments erode the capacity of the royal fathers to bring peace in their domains.
According to him, “There is a lot of in-fighting, war, destruction of property” that accompany the emergence of some traditional rulers, warning that “it should not be that way. “Every community should have a peaceful process of selecting its traditional ruler.”
The mop-up operation took place at the following locations-Gamboru Drug and Food Market, Monday Market, Open Air, Theatre Drug Market, Gwange Drug Market.
The Director of NAFDAC Northeast, Mr. Kenneth Azikiwe, stated that the recent floods have posed a significant risk to public health by contaminating food and drug supplies. “Our swift action in these markets is crucial to ensure that only safe and uncontaminated products are available to the public,” he said.
Yinka Kolawole inOsogbo
Niger State Government has signed a Memorandum of Understanding(MoU) with three companies for sugarcane cultivation and sugar production in the state. According to statement, the
agreement, which was signed at the Government House Minna, involves, Uttham Sucrotech International, Rite Foods Limited, Legacy Sugar Company Ltd withNiger Foods.
The MoU which is a three-year project, will see to the establishment of six sugar mills in Niger State
with four to be located between Shiroro and Minna on a 148,000 hectares of land.
According to the agreement, Uttham Sucrotech Company will provide 110,000 out growers and other by-products of sugarcane such as refined ethanol, power, and cattle feeds among others, would also be produced.
Niger State Governor, Mohammed Umaru Bago, who described the agreement as unprecedented, said the initiative will immensely benefit the people as it will turn around their livelihoods.
are those who seek harm to others without benefiting from it.
Any time you see a person cheering pas- sionately for a politician whose conduct does not make sense or who harm the common good, you are looking at a stupid person, no matter their other characteristics of education, wealth or social status. Even more troubling, as Cipolla tells us is that there are so many more of them than we like to believe. So take a good look at the fellow next to you.
When Idiots from the Greek typology become stupid, as in the Ciipolla thesis, society is in grave crisis.
All you have to do to recognize we live in dangerous times in Nigeria is to step back and examine the scene that is Nigeria today and you will see an army of stupid idiots marching as Hitler youth did, to the drums of harm to others. A few may be bandits but the majority are simple stupid idiots. Please remember no insult is intended here. Just a social scientist pointing to phenomena that fit existing theory.
Highly educated German professionals went that way with ultimately devastating costs to humanity and their country in the Weimar Republic as Hitler, powered by Goebbels propaganda, went to work.. One of them stopped midway into his support of the words of harm to others, and began to ask why, of the Nazis. It did not matter that he was once a supporter. The Lutheran Priest, Martin Niemoller, who questioned things, spent most of the war years in Concentration camps andAfterprisons. the war he spoke those immortal words of the imperative of speaking up…first they came for the socialists and I did not speak up because I was not a socialist…Then they came for the Jews and I did not speak up..,when finally they came for me there was no one left to speak up.
A S Dome STI c Worker S kI ll TH e I r e mplo Y er S … been caught before carrying out her deadly plan.
Considering the severity of these situations, it’s clear that this disturbing trend has sparked serious concerns about household safety in Nigeria. This problem must be addressed urgently before it escalates into a full-blown crisis.
However, amid these grim stories of domestic workers turning against their employers, there are solutions to this growing threat. Some of the key remedies involve better communication, diligent background checks, and proper training. As Miyamoto Musashi wisely said:
“The purpose of today’s training is to defeat yesterday’s understanding.”
To reduce and possibly prevent future occurrences of such crimes, experts recommend several steps for employers. These include conducting thorough background checks on domestic workers, fostering open and effective communication, and ensuring fair treatment of staff—especially since some domestic workers have faced abuse from their employers. Additionally, employers must ensure that domestic workers receive fair compensation and are provided with humane working conditions. Training in conflict resolution should also be introduced, along with stronger security measures, such as restricting access to certain areas of the home. Such steps may have helped protect Mrs. Ronke Edevbie, as shown by her recent experience.
These measures could serve as vital models to address this crisis in Nigeria. As the saying goes, “nothing is new under the sun.” From available records of similar crimes in other countries, it’s evident that the strategies mentioned earlier have been effective in places where domestic worker violence has been curbed. This has led to a noticeable reduction in such crimes.
For example, countries like the US, UK, and Singapore have stringent background check and verification processes before hiring domestic workers. In Nigeria, the absence of such measures is glaring, and the need for their introduction is urgent. This is further highlighted by the fact that the employee responsible for Dr. Ajumogobia’s murder was reportedly newly hired without a proper vetting process.
Currently, domestic worker providers in Nigeria operate informally and without regulation. There is a pressing need for regulated employment agencies to screen and train domestic workers before placing them in homes. In many advanced countries, regulated agencies ensure domestic workers are properly vetted, trained, and placed in appropriate households. The rise in these crimes in Nigeria may be due, in part, to the absence of such a system here, making it crucial to establish one without delay. There was a time when child trafficking posed a major threat in Nigeria, leading to the creation of the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) to address and combat the issue. Similarly, it is now crucial for both the Executive and Legislative branches of government to take urgent action and create legislation to deal with the current crisis. In this context, countries like the Philippines, Indonesia, and South Africa have introduced labor laws that protect domestic workers, including provisions for minimum wages,
paid leave, and protection from abuse.
Recently, Nigeria approved a new minimum wage of N70,000, and Senate President Godswill Akpabio confirmed that it applies to domestic workers. However, clarification is needed from the Nigeria Labour Congress (NLC) and relevant government bodies about the standing of domestic workers, as the current minimum wage legislation only applies to employers with more than 15 employees.
Given this, the proposed agency would focus on the training and support of domestic workers. Some countries already offer training for both employers and workers to foster healthy relationships, improve conflict resolution, and promote cultural understanding. In certain places, domestic workers
Quatto on this matter. He insists we have more to fear from stupid people than evil ones , for evil is easy to identify and fight but not so for stupidity. Stupidity comes dressed up as journalists, academics and even as men of God. Bonhoeffer states unequivocally that silence in the face of evil is itself evil., and not to speak is to speak as not to act is actually to act.
This is why I try to act not necessarily to be seen as acting but because as Bonhoeffer mused if you board the wrong train it is no use going to the corridor and start running in the opposite direction
With passionate commitment to the mantra that Nigeria will rise up again and the conviction that this phase will pass away, if we act right, I have Labored on.
I have helped found the new tribe, a move- ment of Nigerians seeking a values driven society based on personal integrity, the work ethic, merit, inclusion and a push back on Ghandi’s deadly social sins like politics without principles, wealth without work, education without character, etc. All who are minded are not to escape the stupid idiot tag are welcome to check the portal thenewtribe.ng and find a cohort to act in concert with. But a person can also act alone so long as they assert the dignity of the human person and seek the common good.
If there is one thing Nigeria needs now, in the face of today’s crisis, it is people who can speak truth to power as we are preyed on by state capture , creeping fascism and the criminal hijack of politics, and a collapse of the checks and balances of the estates of the realm. When people who were known for protests threaten to try those who follow in their footsteps for treason you do not need to be told that there are snakes in the
•Patrick Okedinachi Utomi is a professor of Political Economy and founder of the Centre for Values in Leadership
domestic workers abroad and is one of the top three nations for foreign exchange remittances, has established the Overseas Workers Welfare Administration (OWWA). This agency has significantly improved the management of domestic workers. Likewise, Singapore has a maid levy and mandatory training to regulate the sector, and in the United States, the National Domestic Workers Alliance (NDWA) ensures proper oversight and protection for domestic workers.
Domestic workers—whether they are security guards, housemaids, or drivers—play a critical role in society, especially when they work closely with our loved ones. It is essential that their activities are carefully monitored, just as other countries have done. This is the central argument of this discussion, and I hope it emphasizes the need for the Nigerian government to take responsibility and put in place safeguards to address this growing issue. While these concerns may seem minor, they can have significant and potentially devastating effects on society.
Some readers might question why I have chosen to focus on such a sensitive topic—one that evokes sadness and grief, and which some may prefer to forget. In essence, why revisit painful memories? My response is that l share the pains of the families of the victims of domestic workers violence because it is something that is relatable.
In 2017, l suffered the tragedy of lossing my 18 years old adorable daughter , Kikaose Ebiye-Onyibe who was on track to graduate as a lawyer from the university of Birmingham in England. Her sudden passage which was a result of a badly performed surgery for appendix in Gold Cross hospital, now Lagoon hospital on Bourdilon road, ikoyi,Lagos , had a profound effect on me and my family. Since l did not want a similar tragedy to happen to other families owing to ignorance and not having anyone to advocate for potential victims as patients in hospitals, where some shady activities can happen in the theatre ,l shared my family’s sad experience in a book titled: “Beyond Loss And Grief. The Story of Kikaose Ebiye-Onyibe,a Survivor’s Manual for Coping With the Loss of a Child”.
also undergo psychological evaluations to identify any potential mental health concerns before being placed in homes.
Government support is not the only solution. Based on research, community-based initiatives and support groups can also help address the socio-economic challenges that domestic workers face, acting as a safety net. Religious institutions, like churches and mosques, have a vital role to play in this process. Additionally, law enforcement and the prosecution of domestic worker-related crimes must be strengthened to deter future violence against employers.
Several international examples demonstrate the effectiveness of these approaches. For instance, the Philippines, which sends the highest number of
It is a personal memoir which l believe helped to shine the light on the painful experience of grief. ln a chapter titled “United ln Grief” l listed prominent and ordinary Nigerians including the sitting president, serving and ex-governors and musicians as well as sports enthusiats who lost their young children under tragic circumstances as aimed to share in their grief.
It is my hope that l would achieve a similar goal with this media intervention aimed at gingering the authorities into taking action to end the rising tide of domestic workers killing their employers before another such avoidable tragedy befalls another family.
•Magnus Onyibe, an entrepreneur, public policy analyst,author, democracy advocate, development strategist, alumnus of Fletcher School of Law and Diplomacy, Tufts University, Massachusetts, USA, and a former commissioner in Delta state government, sent this piece from Lagos, Nigeria.
To continue with this conversation and more,please visit www.magnum.ng.
Duro Ikhazuagbe
As Nigerian international, Victor Osimhen, is set to play in Galatasaray’s Europa League clash with Greece’s PAOK FC tonight, his Turkish Lig side have asked him to banish the thoughts of dumping his loan deal for another club in the January transfer window.
Of late, there have been reports of Osimhen on the radar of Italian giants, Juventus as possible striker to poach to reinforce the attacking options of the Turin side despite the Nigerian on loan from Napoli till the end of the summer.
Speaking on the eve of Galatasaray’s Europa League home Clash with PAOK FC, Vice Chairman of the Turkish giants, Ibrahim Hatipoglu, dismissed rumors of a potential January departure for the Nigerian striker.
Hatipoglu made it clear that Galatasaray has long-term plans for Osimhen: “There is no possibility of Osimhen leaving the team in January. We are thinking of having him play with us next season as well. He will remain a Galatasaray player until June.”
The vice president emphasised Osimhen’s happiness at the club,
stating, “The player demonstrates in every match how attached he is to the club. People play where they are happy. He has a contract with
us until the end of the season.” Hatipoglu went on to suggest that Galatasaray’s focus is on retaining Osimhen beyond his current loan
deal.
“We should rather think about how to continue with him in the coming seasons. It makes no sense to
Super Eagles winger and Nantes star, Moses Simon, was recognised by French Ligue 1 yesterday after reaching a significant career milestone.
The AFCON 2023 silver medal winner with Nigeria last February is widely regarded as one of the most decisive Nigerian players in the French top division, celebrating his 150th Ligue 1 appearance during Nantes’ 1-1 draw with Angers SCO over the weekend.
The Ligue 1 official Twitter account marked the occasion, celebrating Simon’s contributions with a post stating, “Indispensable Moses Simon.”
In his 150 appearances, the 29-year-old winger has racked up 27 goals and 29 assists, showcasing his vital role in his team’s success.
Simon’s achievement places him fifth among Nigerian players with the most Ligue 1 appearances, trailing only John Utaka (239 games), Wilson Oruma (196), Taye Taiwo (191), and Victor
Africa’s richest man, Aliko Dangote, has admitted he has regrets he did not buy English Premier League club Arsenal.
Billionaire Dangote is a big fan of Arsenal and at a time had the chance to pay $2 Billion to own the London Gunners.
“I regret I did not buy Arsenal before, I would have bought it for $2 Billion,” he told Bloomberg in an interview posted on social media yesterday.
He however insisted that he could not have indulged in such venture when he needed money to complete his petrochemical refinery in Lagos.
“My money was needed to
Ikpeba (170).
Further cementing his legacy, Simon’s assist during the Angers match made him the most decisive player for Nantes since their promotion to Ligue 1 in 2013.
His pinpoint pass to Johann Lepenant in the 18th minute gave Nantes an early lead before Angers’ Himad Abdelli equalised later on.
With this assist, Simon broke the previous club record held by the late Emiliano Sala, becoming Nantes’ top contributor with 29 assists in Ligue 1.
This season, the Super Eagles forward has continued his form, recording two goals and two assists in just five games.
Simon was named Nantes’ Player of the Month for August.
Simon, who joined Nantes from Levante in August 2019, helped the Yellow Canaries lift the Coupe de France in 2022. It was the third trophy of his career, having won the Belgian Pro League and the Super Cup with Gent in 2015.
complete my project (the refinery) than by buying Arsenal.
“If I had bought the club, I would not have been able to finish my refinery.
“The best decision was to complete the refinery.
“All the same, I remain the biggest fan of the club and watch them whenever they play.
“I will remain a major supporter of the club.”
The Dangote group spent over $20 billion to build the first-ever private refinery in Nigeria.
The London Gunners are worth double that amount now, with market value in excesses of $4billion now.
discuss whether he will leave during the mid-season break,” hinted the Galatasaray’s Number Two man. Osimhen switched to Galatasaray on loan from Napoli at the end of the summer transfer window after a tumultuous period that saw him frozen out of the Italian club’s squad. His move to Turkey came as a surprise to many, given the highprofile interest he had attracted from clubs like Chelsea and Saudi Arabia’s Pro League side, Al-Ahli. Since joining the Turkish side on loan, the Nigerian star has integrated himself into the squad, contributing two assists as Galatasaray remain on top of the Lig.
Nigeria, recognised as the leading fencing nation in Sub-Saharan Africa, will host the Fencing World Cup this December.
The event is sanctioned by the Switzerland-based International Fencing Federation (FIE).
Absolute Fencing, a leading fencing equipment manufacturer based in the USA, has donated five aluminum fencing pistes (each measuring 1.5 m x 17 m) valued at N40m.
Gary Lu, President of Absolute Fencing, stated, “Absolute Fencing is pleased with the progress made by the Nigerian Fencing Federation
and their dedication to advancing the sport in Nigeria. As part of our commitment to supporting the growth of fencing across Africa, we are proud to donate these fencing pistes to the Nigerian Fencing Federation for the upcoming 2024 Junior Men’s Epee World Cup in December.”
An excited Adeyinka Samuel, President of the Nigerian Fencing Federation, emphasized that this support would motivate them to ensure a successful tournament and called on corporate bodies and individuals to support the federation’s efforts to elevate Nigeria’s status in the global fencing community.
Varsity Cup, Nigeria’s first annual national university football championships for men and women’s teams has announced the universities that will participate in its inaugural Men’s Football 2024 season.
Having undergone a rigorous selection phase and completed a month-long accreditation process, these universities ably led by their Sports’ Directors are now set for action.
The Chika Chukwumerije Sports Foundation (CCSF) is set to kick off a one-day ‘Inspire the Future‘ programme at the Springhall British School at Maitama, Abuja, as the foundation unfurls a self-defense workshop for girls as well as an introduction to taekwondo and Olympic enlightenment workshop for all participants.
The workshop is part of a range of sporting activities across various schools in Nigeria being organized by the French Embassy to showcase its dynamism in the period of the Paris 2024 Olympic and Paralympic Games.
The Beijing 2008 Olympic medalist, Chika Chukwumerije, is using the Olympian platform to inspire young people leaving a lasting impression that yields positive dividends for decades to come.
“The stories of Olympians are often one of people who dare to dream to be the best in their sport and then through hard work, diligence, and commitment
The competing universities include; the University of Benin, Obafemi Awolowo University, University of Lagos, University of Nigeria, Nsukka, and Adekunle Ajasin University, Akungba-Akoko.
Others are; the University of Ilorin, Joseph Sarwuan Tarka University, Makurdi (formerly Federal University of Agriculture Makurdi), Ahmadu Bello University, Prince Abubakar Audu University (formerly Kogi
bring those dreams to reality and become symbols of excellence in their respective sports. “
“This workshop is about inspiring these young ones and giving them
State University Ayangba), and the University of Maiduguri.
This achievement of enlisting top varsity football teams in its first year represents a significant milestone for Varsity Cup, aligning with its mission to create a sustainable platform where Nigeria’s brightest student-athletes can thrive.
“We have considered several important factors in identifying the top varsity football teams in the country. It is now left to them to prove who the true Varsity champions are.”
Varsity Cup Men’s Football 2024 will kick off on October 8, and,run until November 6.
According to the President of the Nigerian University Games Association (NUGA), Bawa Mohammed, Varsity Cup represents what is possible when stakeholders are athlete-focused.
the courage to dream big. It is also sharing with them the virtues and mindset that would help turn their dreams into reality over time.“
The team captain at the London
2012 Olympics also spoke on the importance of dedicated selfdefense classes for girls, which is one of the two components of the workshop.
L-R: Non-Executive
“What value does NNPC add by becoming a middleman between Dangote Refinery and major marketers? NNPC has been functioning for over 20 years without producing oil. We want to know what NNPC’s role is in a privately owned refinery like Dangote’s. Why are they insisting that Dangote Refinery sells its products through them to marketers?” --PDPChieftain,ChiefSunnyOnuesoke, faultsNNPC’smiddlemanrolebetweenDangoteandoilmarketers.
Before I get badgered by those unwilling to read or lacking in the discipline to digest concepts, let me announce upfront that no insults are intended by either the title, or the message below
But I have seen enough of the rush to abuse, by those who miss the meaning of concepts different from their everyday usage, that I suspect an upfront caveat may slow down the rush to conclusion by those who give meaning to the real insult ; which is that the best way to hide something from most of us is to write it down in a book.
The fear of reading should be overcome so we can find meaning and understanding.
I know Nigeria is in grave danger from cleavages separating us from them, as emotion steps down reason, in many, including some very well educated and even a few I know of in who built reputations as cosmopolitan thought leaders. These may sometime soon confront the puzzle and the shame the German elite dealt with after World War II. That was also the lot of some in Rwanda who were confronted with their past after the Genocide and the triumph of Paul Kagame.
I have chosen therefore to leave everyday meaning of the words Idiot and stupid and use them in context, as conceptual expression of phenomena by philosophers and social scientists.
To the wise men of Ancient Greece we first turn for their typology of men in society. Those who think of themselves alone as the basis for engagement they called Idiots. Not an insult. Just a category.
Those who think of and empathize with others so long as those others share paroachial bonds, like blood lines, language or religion, they
called tribesmen. As Joshua Greene elucidates in the book ; Moral Tribes , exploring emotion, reason and the growing gap between us and them, the tribes man is threatened by outside groups and is perpetually at war with those outside his tribe.
When people mature to a universal sense of the dignity of the human person and live human solidarity, they move up to the category of citizen. All you need do is navigate social media today and you will encounter the reign of tribesmen in extant Nigeria.
Make a trick statement and you will discover they don’t read. Once your name fits those they are programmed to insult they hit the keyboard saying the same things they said yesterday. And the day before. Many were deployed there by politicians purportedly trying to build a nation.
Then there is the concept of stupidity.
Back in my days in Grad School in the late 1970s I was struck by the work of several academics at the University of California, Berkeley. One was a public policy scholar, Aaron Wildavsky, and the other was Carlo M Cipolla. The former gave us the value of complex redundancy in policy formulation and the latter gave us the five laws of human stupidity.
Cipolla defined a stupid person as one who causes losses to others when he or she may
not benefit from the action they chant for and may, in fact, suffer loss from that action.
Cipolla studied human history and found a pervasive influence of stupid people. He then offers us the five laws of human stupidity.. The first law is that we always underestimate the number of stupid people in circulation. The second is that the probability of stupid- ity in a person is independent of his other characteristics such as his education or wealth. The third is that this person supporting wrong that cause harm to others may not even think of personal benefit from that harm. Fourth is that non stupid people always underestimate the danger of being associated with the stance of the stupid and how that underestimation will eventually impact them at very high cost. The fifth law states that the stupid person is a most dangerous person; often more dangerous than bandits.
The Berkeley Economic historian had catego- rized man in society just like the Greeks did, and found four types of people: The Intelligent, the bandits, the unfortunate and the stupid. The Intelligent are those who aim to benefit themselves and others(win/win); the bandits are those who benefit themselves by harming others, the unfortunate are those who do harm while trying to benefit others, The stupid
In 2021, Mrs. Maria Igbinedion, the 85-year-old mother of former Edo State governor Chief Lucky Igbinedion, was tragically murdered by her domestic worker, Dominion Okoro.
The sorrow is deepened by the fact that her murder was driven by the desire to steal her jewelry and other cherished items, gifts from her children. This shocking event sent ripples through Nigerian society, exposing the risks that domestic workers can pose to families. It emphasizes the need for thorough vetting and continuous monitoring of domestic staff, as well as addressing any issues in the employer-employee dynamic.
Before the tragic death of Mrs. Igbinedion, which left her family—her children Bright, Michael, and others—grieving the premature loss of their mother at the hands of a worker-driven by greed and malice, similar cases of domestic workers murdering their employers had occurred in Nigeria.
In 2015, Nigerian businessman Oyibo Amachree was brutally murdered by his driver and domestic worker. In 2016, 78-year-old Chief Mrs. Olusola Olubunmi was killed by her domestic worker, and in 2018, Lagos businessman Mr. Tunde Sunmonu met the same fate.
One of the most horrifying recent cases was the murder of Dr. Aribemchukwu Ajumogobia, the daughter of Justice Rita Ofili-Ajumogobia. On July 31, 2024, Dr. Ajumogobia was found dead outside their Parkview, Lagos residence. Following
an investigation, a 21-year-old housemaid, Abigail Peter, a 35-year-old driver, Olatunji Oluwasegun, and a 45-year-old security guard, Umaru Mamman, admitted to killing her. They revealed that they had gagged and stabbed her in the neck, intending to steal cash and valuables.
It is heartbreaking that the stolen items were likely of little value, yet a promising young doctor in her early thirties lost her life due to the greed of domestic workers who conspired to carry out such a heinous act.
The disturbing rise in violent crimes committed by domestic staff against their employers is not unique to Nigeria. In fact, a quick online search shows that such crimes are prevalent across the African continent and even on a global scale.
Here are a few examples of such murders in Africa: In 2019, a 79-year-old woman in South Africa was killed by her domestic worker. In 2018, a couple in Kenya was murdered by their domestic worker, and in Uganda in 2017, a 60-year-old woman faced a similar fate at the hands of her domestic worker.
Globally, this trend can be seen in other countries as well. In 2019, a 61-year-old woman in France was murdered by her domestic worker. In India, a 70-year-old woman was killed by her domestic worker in 2018. In the United States, a 65-year-old woman was murdered by her caregiver in 2019.
The question remains: what drives domestic workers to murder their employers? Several factors have been identified, including greed fueled by financial struggles, stress from work, mental health issues, personal grudges, and social and economic inequality. Other contributing factors include poor working conditions, mistreatment by employers, low wages, exploitation, and the absence of proper
background checks for domestic workers.
Given these statistics and factors, the troubling trend of domestic workers killing or poisoning their employers, who are essentially their benefactors, is becoming a global problem. In Nigeria, it is quickly becoming a national crisis, nearing epidemic proportions. Recently, news broke about Ronke, the wife of David Edevbie, a former Delta State finance commissioner and 2023 gubernatorial candidate, narrowly escaping a deadly plot by her domestic staff, who had laced her breakfast with a sleep-inducing drug.
Thankfully, she locked herself in her section of their Parkview Estate, Ikoyi home before succumbing to the drug’s effects. Had she not done so, she might have been another victim of domestic worker violence, which has been growing alarmingly. The timing of her escape is particularly chilling, as it occurred just one month after the tragic murder of Justice Ajumogobia’s daughter, also in Parkview Estate, Ikoyi, Lagos. There are numerous similar incidents across the country that have garnered media attention, along with many others that have not. For example, in southwestern Nigeria, a maid bought rat poison with the intent to put it in a pot of soup, which could have been consumed by an entire family. The family might have all been killed if she hadn’t