MONDAY 30TH JUNE 2025

June 12: Abubakar Umar Reveals Names

Unsung Military Officers

President Tinubu To Commission Giri District Access Roads Today

Dangote Refinery: N720bn CNG Drive Will Save Nigeria N1.7tn in Fuel Distribution Costs

Emmanuel Addeh in Abuja and Peter Uzoho in Lagos

Dangote Petroleum Refinery yesterday disclosed that it has invested over N720 billion to implement its initiative of deploying 4,000 Compressed Natural Gas-powered trucks for the nationwide distribution of petroleum products, saying it is expected to save Nigerians over N1.7 trillion annually.

This step, the company said in a statement, will see the privately-owned refinery absorb over N1.07 trillion annually in fuel distribution costs. The initiative is also poised to significantly benefit over 42 million Micro, Small and Medium Enterprises (MSMEs) by reducing energy costs and enhancing profitability, the mega refinery said.

The initiative, which eliminates transportation costs for fuel marketers and large-scale consumers, is expected to help reduce pump prices and inflation.

From August 15, Dangote will begin the direct delivery of petrol and diesel to filling stations, industrial facilities, and other highvolume consumers, the company said earlier.

Premium Motor Spirit (PMS) or petrol, 15 million litres of diesel, and 5 million litres of aviation fuel.

According to the statement from the refinery, it aims to meet Nigeria’s daily consumption of 65 million litres of refined petroleum products. This includes 45 million litres of

Enugu Govt Foresees Surpassing N600 Billion IGR Target for 2025

Gideon Arinze in Enugu

Enugu State Governor, Dr. Peter Mbah, has predicted that the state's Internally Generated Revenue (IGR) may surpass the N600 billion target set for 2025.

Mbah also expressed optimism that Peoples Democratic Party (PDP) will overcome its present challenges and become competitive again.

The governor spoke during an interactive session with members of the Nigerian Guild of Editors (NGE), on the side-lines of the Guild's Biennial Convention held in the state at the weekend.

He disclosed that Enugu State recorded N144 billion IGR in 2024.

According to Mbah, the state does not have to rely on third-party

funding to finance its many on-going infrastructure projects.

He explained that his administration had expanded the tax net, which led to the significant increase in IGR.

Mbah stated, “Before we came in, the highest we did as a state was about N25 billion in terms of our IGR annually.

“This year, our IGR projection is about N600 billion and we are likely going to achieve, if not exceed that figure. At some point, there was the misconception that we increased the tax rate, but that was not true.

“What we simply did was to expand the tax base. We brought in those who were not captured and who were not in the tax net, into the net.

“We also ensured that our processes were automated by eliminating collections through manual or cash and ensure that payments are done on electronic or digital platforms directly into the government accounts.

“So, just largely stopping the leakages and expanding the tax net, we are able to grow our tax base by over 200 fold, from N25 billion to about N571 billion that we are expecting this year.”

He stressed that the ongoing infrastructure projects and programmes across the state were beyond bricks and mortar, saying that his administration is also focused on building the capacity of civil servants who would manage the system.

He stated, “We have a programme,

for instance, that ensures that all our civil servants have access to digital training and making sure that our processes are instituted. In fact, all the MDAs, over 111 of them in Enugu, are included in our e-governance platform.”

Mbah said, “Some of the things we are doing are those soft things whose impact may not be felt today, but in the future. We are building the Enugu of tomorrow and we need to build the institutions.

“What we have done since we came in is that we have migrated from manual ways of running government to e-governance. So, as a government, we are quite nimble and agile. In terms of cost, we are also not very big and we are also able get things done fast.”

NHIA Sanctions 49 Healthcare Facilities, 47 HMOs over Irregularities

Onyebuchi Ezigbo in Abuja

In continuation of its renewed focus on improving quality of service to enrolled Nigerian patients, the National Health Insurance Authority (NHIA) sanctioned 49 erring healthcare facilities (HCFs) and 47 health maintenance organisations in 2024 in accordance with its operational guidelines.

The agency said that it was able to resolve 2929 complaints sanctions including issuance of warnings, refunds, suspensions and delisting.

A statement signed by Acting Director Media and Public Relations, Emmanuel Ononokpono, said sanctions imposed on the healthcare facilities followed investigations into complaints received from patients enrolled into the state and national health insurance schemes.

Among the complaints were: unavailability of medicines, denial of services, out-of-pocket payment for covered services and non-provision

the list was not exhaustive, the contributions of the ‘patriots’ needed to be acknowledged.

According to him, most of the 38 officers risked their lives and their careers in pursuit of the truth which the Abiola election represented.

“When the President called to inform me of his decision to magnanimously confer on me the the National Award of Commander of the Federal Republic (CFR) on account of my much advertised role in the struggle for the validation of the June 12th election and affirmation of Chief MKO Abiola’s mandate, my first reaction was why only me and not all those unsung heroes.

“Those officers and men who actively participated in that struggle, risking their careers and even lives. Although I was one of the leaders of that movement within the military, my contribution was by no means bigger than theirs. While I have been recognised and celebrated,

of payment narrations.

" For the HMOs, the issues related to delays or denials of referral authorization codes, delays in settlement of agreed reconciled payments, refusal to monitor quality assurance in facilities etc.

"These are some of the highlights of the 2024 Annual Complaints Report produced by the Enforcement Department of the NHIA under Acting Director, Enforcement, Dr Abdulhamid Habib Abdullahi," it said .

Ononokpono said the report was issued in compliance with the NHIA Act 17 of 2022 which requires NHIA to establish mechanisms for receiving and resolving complaints by members of the Schemes and Health Care Facilities.

"In all, a total of 3507 complaints were handled during the period, out of which 2929 complaints (84 percent), majority of which were against HCFs, were resolved. A breakdown of the distribution of complaints reveals that

including this National Honour by the President, they have remained anonymous.

“It is therefore incumbent upon me to reveal the identity of these patriots if only to acknowledge and commend their contributions to the emergence of the current democratic dispensation,” Umar noted.

Earlier, the President bestowed national honours on several persons believed to have fought for the restoration of June, but was accused of missing out certain other important individuals. However, days later the President sought to correct the mistake by bestowing a CFR on Umar.

According to Umar, top on the list was his deputy at the Armoured Corps Centre and School, Col MA Garba, whose commitment was so strong that he continued with the execution of his plans after some of them were arrested, detained and retired in October, 1993.

2273 were reported against HCFs, 1232 were against HMOs. Only two reports were recorded against enrollees by providers," he said..

Ononokpono said that based on the outcome of investigations, various sanctions were imposed on erring healthcare providers where indicated.

"Eighty-four formal warnings were issued to HCFs, while 54 enrollees received refunds of N4,375,500 from 39 HCFs. Four HCFs were suspended and six others were delisted. Also 35 HMOs got warning letters and directives to institute corrective actions while 12 HMOs were directed to refund a total of N748,200 to 15 enrollees," Ononokpono added.

According to the report, in 2024, all complaints were fully investigated and responded to within the standard response time of 10 to 25 days. The average complaint resolution time for complaints that required investigation was 15 days. The complaints resolution rate (within timeline) was 84 per cent.

According to him, Garba went on, as he should, to attain the enviable rank of a Major General in the army. Others, according to Umar, were: Lt Col Lawal Jaafaru Isa; Lt Col UF Ahmed; Lt Col MS Dasuki; Lt Col ML Gwadabe; Lt Col J. Temlong; Lt Col Musa Shehu; Lt Col Chris Eze; Lt Col HM Dzarma and Lt Col Isa Jibrin. Also listed were: Lt col JOS Oshanupin; Lt Col A Oloruntoba(kabiesi Olugbede of Gbede kingdom); Lt Col Moke; Lt col Happy Bulus; Lt col Olagunsoye Oyinlola; Col J Okai; Col E. Ndubueze; Lt Col Yakubu Muazu; Lt Col Yahaya Abubakar ( current Etsu Nupe) and Maj. Saad Abubakar (current Sultan of Sokoto).

Besides, he mentioned Maj Abba Maimalari; Maj Jamil Tahir; Maj Buzugbe; Maj LP Aprezi; Maj MK Yake; Maj J Dawah; Maj Suleiman Wali; Maj Dauda Komo; Maj Lucky

With the average logistics cost estimated at N45 per litre, the refinery said it will cover N1.07 trillion annually in free distribution expenses.

The Dangote Group said it is investing N720 billion in the acquisition of 4,000 CNG-powered trucks as well as the establishment of nationwide CNG ‘mother and daughter’ stations, among other infrastructure to implement the free distribution initiative.

The programme, according to the company, forms part of Dangote’s broader commitment to eliminating logistics bottlenecks, enhancing energy efficiency, promoting environmental sustainability, and supporting Nigeria’s economic development.

The company noted that lower fuel distribution costs will help reduce production costs, ease inflationary pressures, and stimulate economic growth.

“The initiative is also expected to resuscitate dormant filling stations, fostering job creation in the process.

Over 15,000 direct jobs are projected to be created across the logistics chain, including drivers, station managers, and attendants at the CNG stations, the management of the$20 billion refinery said.

The refinery also emphasised that this programme would help curb cross-border smuggling of petroleum products and support a more efficient and environmentally friendly distribution system.

Where issues could not be resolved within the timelines an explanation was provided to complainants while the resolution process continued.

The complaints received in 2024 were submitted through the following routes: in-person, written letters, email, telephone, the NHIA call center and other channels.

The NHIA Complaint and Grievance Management Protocol establishes clear policies and procedures for complaints management and provides that complaints must be responded to in a timely manner. It also provides escalation procedures for complex or serious complaints.

Speaking on the development, NHIA Director General, Dr Kelechi Ohiri, described the NHIA’s complaints management process as organic to the agency’s efforts to enhance accountability, rebuild trust and improve quality of care.

Torrie; Maj JS Zaruwa; Maj M Sumaye; Maj Sani Bawa; Maj Ndaliman; Maj Ahmed; Maj M Bawa; Lt Col JB Ahmadu; Capt Junaid Bindawa and Capt Lar.

According to him, the fact that Abiola, the presumed winner of the June 12 election won over 80 per cent of the Armed Forces votes, clearly demonstrated the contribution of the other members of the military. “I should add that this list is by no means exhaustive,” he stressed.

Umar stated that there were a lot more participants who remained unknown to him since they served under others and apologised to all those whose names he must have missed.

“May God recognise and reward your sacrifice. I therefore accept this award with all sense of humility on behalf of all these officers and men. Obviously, it goes without saying that this award will be doubly more meaningful if the democracy we all fought for delivers the

downstream sector.

IPMAN’s National Publicity Secretary, Chinedu Ukadike, stated that the new model would significantly reduce logistical burdens for independent marketers by delivering more affordable fuel directly to filling stations.

“Our pipelines have been nonfunctional for years, yet nothing has been done to revive the infrastructure linking the country’s 21 depots. We've had to rely on expensive transport from coastal depots,” Ukadike said. “Dangote’s intervention lifts a huge burden off the shoulders of independent marketers,” he added.

Meanwhile, the presidency, according to the statement, described the initiative as a pivotal moment in the federal government's push to mainstream gas-powered transportation.

Commercial Coordinator of the Presidential Compressed Natural Gas Initiative (PCNGI), Tosin Coker, praised the move as a strong vote of confidence in Nigeria’s gas-fuelled future.

“Dangote Group’s acquisition of 4,000 CNG trucks is not only impressive in scale but also highly strategic. It signals to the market that CNG is no longer a distant prospect but a current, practical solution to high energy costs, emissions, and supply chain challenges. PCNGI regards this as a milestone achievement in our efforts to accelerate gas-powered transport adoption,” Coker was quoted as saying.

It also quoted the Independent Petroleum Marketers Association of Nigeria (IPMAN) as also commending the development, calling it a timely resolution to longstanding challenges in the

real dividends.

“This can happen only if leaders at all levels govern with the fear of God and in accordance with the tenets of democracy. It remains the hope and prayers of all patriots that nothing is done to derail this infant democracy. To achieve the stability and progress of our democracy, leaders must prioritise good governance over politicking for self aggrandizement,” he added.

For Umar, the three co-equal branches of government must operate independently while cooperating with each other, urging President Bola Tinubu to shun all traces of sycophancy, especially coming from top government officials like the Senate President, Godswill Akpabio. He stated that one enduring lesson from the conduct of the officers and men is their decision to operate above sycophancy but to hold their superior officers to account, explaining that sadly, this does not appear to have a positive impact on the country's

Development Economist and Policy Analyst, Professor Ken Ife, the statement stressed, said the initiative would drive down the price of petrol and yield widespread benefits for Nigerians. Besides, the Chief Executive of Financial Derivatives Company, Bismarck Rewane, was quoted as dismissing concerns about the refinery becoming a monopoly, arguing that inefficiencies in the sector have been systemic and long-standing. He added that the scheme would help curb the parasitic role traditionally played by middlemen.

"What Dangote is doing achieves two key objectives: delivering products across the entire country at a uniform price by eliminating bridging costs, and significantly reducing logistics expenses through the use of CNG-powered trucks to reach every corner of the nation. “In economic terms, middlemen—who typically do not invest—are often viewed as parasitic, extracting margins simply for distributing goods. Dangote is bypassing this layer by directly handling distribution and, notably, providing credit facilities to the retail end of the business," he said. Energy expert and co-founder of Dairy Hills, Kelvin Emmanuel, said Dangote’s decision to absorb logistics costs marked a turning point that could finally allow Nigerians to enjoy the benefits of local refining.

Also, energy analyst, Ibukun Phillips, described the move as “revolutionary”, suggesting it could reshape Nigeria’s energy sector by improving affordability and access, particularly in rural communities.

political leaders.

“Sycophancy everywhere has become the scourge of selfless and accountable leadership. It is the reason for the arrogance and vanity we see in our leaders at all levels. Men of straw are widely and falsely being elevated to the position of icons by self seeking sycophants.

“Mr President must lead in a war against sycophancy in all its forms. This must allow for no exceptions including the rapidly growing trend of naming and renaming public institutions, facilities and other infrastructure after a President or State Governor while in office.

“The other day, the Senate President was reported to have predicted that President Bola Tinubu would win the 2027 election with 99.9 per cent of the votes! Even allowing for the fact that this Senate President is widely known for his humorous incitement, Mr President will do well to shun such oracles,” he stated.

Dangote

GRADUATION CEREMONY OF CLASS 2025 OF PACESETTERS ACADEMY...

Report: Amid Search for $2tn, Nigeria Emerges Top

in Africa’s Energy

Emmanuel Addeh in Abuja

As Nigeria continues to search for avenues to raise $2 trillion for its carbon reduction efforts between now and 2060, the country has emerged as Africa’s top performer in energy transition for 2025.

According to the latest global rankings released on June 18 by the World Economic Forum (WEF), with a score of 54.8 points, Nigeria ranked 61st worldwide, but showed the strongest improvement among African nations.

The report, developed in partnership with consulting firm Accenture, is based on the Energy Transition Index (ETI) 2025 and measures energy system performance across 118 countries, using 43 indicators

grouped into three key areas.

The areas include: Security, sustainability, and equity, along with five readiness factors for energy transition including regulation, financing, innovation, infrastructure, and human capital. For WEF, the countries were selected based on the availability of consistent data across a minimum set of indicators, with each nation receiving a score from 0 to 100 for every indicator, along with two sub-scores.

Nigeria climbed 48 places since the 2024 index, driven by targeted regulatory reforms, growing investment in clean energy, and localised transition strategies, the report added.

Outside Nigeria, Tunisia followed closely in second place among African countries, ranking 62nd globally. Namibia

was third (64th globally), followed by Mauritius (69th), Morocco (70th), Egypt (74th), South Africa (79th), Kenya (88th), Algeria (89th), and Côte d’Ivoire, rounding out the African top 10 at 90th place.

WEF stated that the report provided additional insight into Africa's broader energy transition efforts, with progress on the continent fueled by stronger political commitment and increased financial flows.

However, the organisation stated significant differences between countries due to underinvestment, low energy access rates, and institutional weaknesses in several nations.

Generally, Sub-Saharan Africa haspd an average score of 48.8 points, while the Middle East and North Africa region posted

Transition Efforts

an average of 52.1 points.

But at the global level, Sweden, Finland, and Denmark maintained their lead in the energy transition rankings. Their top positions reflect long-standing political commitment, strong infrastructure, and diversified low-carbon energy systems.

Also, Norway, Switzerland, Austria, Latvia, and the Netherlands performed well, thanks to their focus on equity, clean energy investments, and expanded renewable capacity. Germany and Portugal completed the global top 10.

The report showed that worldwide progress toward secure, fair, and sustainable energy was picking up speed after years of stagnation. In 2025, 65 per cent of countries in the index improved their

Citing Need to Preserve Investor Confidence, FG Directs FRCN to Cap Annual Dues Payable by Private Entities at N25m

James Emejo in Abuja and Dike Onwuamaeze in Lagos

Minister of Industry Trade and Investment, Jumoke Oduwole, yesterday directed the Financial Reporting Council of Nigeria (FRCN) to apply an interim cap on annual dues payable by private sector Public Interest Entities (PIEs) at N25 million.

The move will also aligned the dues with the cap already in place for publicly listed entities under the the Financial Reporting Council (FRC) (Amendment) Act 2023.

In a statement, the minister stated that the directive will create a stable environment for compliance for affected companies in the short term.

This, she said, further reflected the ministry's commitment to prioritising transparency, investor confidence, and regulatory equity while allowing the Ministry of Justice to appropriately determine the longer-term path for seeking legislative amendments on behalf of the federal government, if required.

In arriving at the directive, Oduwole explained that on

March 2025, the ministry had convened a high-level stakeholder engagement in response to the Financial Reporting Council (FRC) (Amendment) Act 2023.

The initiative was prompted by growing concerns regarding the provisions and implementation of annual dues for Public Interest Entities (PIEs).

She noted tha as early as December 2024, leading stakeholders-including the Oil Producers Trade Section (OPTS), the Association of Licensed Telecommunications Operators of Nigeria (ALTON), and the Nigeria Employers' Consultative Association (NECA)-had expressed reservations through direct consultations and public advocacy over the section of the legislation.

According to the minister, a key issue raised was the reclassification of large private companies as PIEs, which imposed a disproportionate financial burden. Under the amended Act, such companies are required to remit annual dues ranging from 0.02 per cent to 0.05 per cent of turnover, with no upper

limit-compared to a fixed N25 million levy for publicly quoted companies, regardless of their size or market capitalisation.

However, the minister pointed out that while the FRCN continues to play a central role in setting and enforcing accounting and financial reporting standards, stakeholders observed that these provisions could lead to unintended unsustainable increased compliance costs, and ultimately negatively affect investor confidence.

She said the administration of President Bola Tinubu remained firmly committed to adopting a listening posture and pro-business approach, as articulated in its policy thrust in implementing the 8-Point Agenda.

Nonetheless, Oduwole said, "In response, on March 26, 2025, the ministry held a formal public stakeholder consultation to assess the policy implications and ensure alignment with principles of fairness, transparency, and economic competitiveness.

"The consultation resulted in two key actions: a temporary administrative pause on

implementation; and the establishment of a Technical Working Group to provide deeper analysis.

"In line with this commitment, the Technical Working Group coordinated by the Ministry, comprising NECA, MAN, ALTON, NACCIMA, PFPTRC, CAC, and SEC, along with a robust team from the FRCN, met six times over a threeweek period for stakeholder consultations.

"These engagements culminated in a report assessing the implications of Section 33D of the FRC (Amendment) Act 2023 submitted to the Honourable Minister on April 17, 2025".

Continuing, she said, "The Honorable Minister of industry trade and investment provided a detailed briefing to Mr. President on the critical concerns raised by organised private sector stakeholders prior to the implementation of the administrative pause and made recommendations based on the submitted report and affirms that the administrative pause will be maintained in the mid- to long-term, pending a broader legislative review."

overall scores, with 28 per cent advancing across all three key areas: security, sustainability, and equity. It said that while advanced economies face challenges like grid congestion, high energy prices, and supply bottlenecks, emerging regions such as parts of Europe and Asia are making faster gains, with their progress fueled by targeted reforms, better infrastructure, and greater investment in clean energy.

Nigeria’s energy transition programme, which formally launched in 2022, represents the country’s most ambitious effort to balance climate commitments with pressing energy access needs.

Known as the Energy Transition Plan (ETP), the programme aims to achieve net-zero carbon emissions by the year 2060, while simultaneously lifting millions of Nigerians out of energy poverty and supporting inclusive economic growth.

At the heart of the plan is a major financial commitment.

Nigeria estimates that it will require about $1.9 trillion between now and 2060 to fully implement the programme. This translates to an average of $27.7 billion annually, with roughly $10 billion expected from public sources and the remaining $17.7 billion

from private sector investment. The transition plan focuses on several key pillars. One of the largest components is the shift to renewable energy, especially solar. With Nigeria’s abundant sunlight and vast underserved areas, solar power is seen as the most viable path to rapid electrification.

Estimates show that universal solar deployment alone will require over $400 billion in investments. Alongside this, around $135 billion is projected for grid expansion and modernization, enabling the integration of both renewable and traditional power sources into a more reliable national network.

Another central focus is clean cooking. Currently, millions of Nigerian households rely on firewood, charcoal, or kerosene, fuels that are harmful to both human health and the environment. The transition plan sets out to reverse this by expanding access to cleaner alternatives like LPG (liquefied petroleum gas) and modern biomass stoves.

Achieving this goal is expected to cost around $30 billion, with benefits that stretch far beyond climate goals, especially for the health and safety of women and children.

Nduka SecondaryObaigbena Schools Essay Competition Begins

The preliminaries for the 2025 Nduka Obaigbena Secondary Schools Essay Competition will take place from tomorrow, Tuesday, July 1 to July 14, 2025. The event will conclude with a prize-giving ceremony at the prestigious Government College Ughelli in Delta State.

According to the organisers, Citizens Advocacy for Social and Economic Rights (CASER), this annual competition aims to inspire secondary school students across Nigeria to develop strong writing skills.

“ It focuses on creative writing, critical thinking, rigorous research, and a deep commitment to truth,

the core principles of responsible journalism. In an age increasingly challenged by misinformation, online abuse, and the erosion of ethical communication, this competition seeks to guide young minds back to the values of integrity, clarity, and accuracy in expression. CASER is proud to organise this event in honour of Prince Nduka Obaigbena, who is the Chairman of the THISDAY/ ARISE Group, whose birthday anniversary falls on July 14th. This initiative celebrates Obaigbena's enduring contributions to advancing excellence in journalism and broadcasting across Africa,” the organisers said.

Wife of Zamfara State Governor Hajiya Huriyya Dauda Lawal (left); Director of Schools Pacesetters Academy, Mrs Kate Imansuangbon; Former Vice President Alhaji Atiku Abubakar; Chairman Pacesetters Academy, Barrister Kenneth Imansuangbon and Senator representing Abia Central, Senator Augustine Akobundu during the graduation ceremony of class of 2025 academy session, in Abuja yesterday. JULIUS ATOI

DONATION OF RELIEF MATERIALS BY BODY OF BANK CEOS IN NIGERIA...

L-R: Registrar & Chief Executive of the Chartered Institute of Bankers of Nigeria (CIBN) Akin Morakinyo; Managing Director and Chief Executive Officer of Keystone Bank Limited, Mr. Hassan Imam; Group Managing Director/ Chief Executive, Zenith Bank, Dame (Dr.) Adaora Umeoji; The Executive Governor of Niger State, His Excellency, Governor Mohammed Umaru

and

Fagbemi, Badaru, Idris Lead FG’s Delegation to Aminu Dantata’s Burial

Ahmad Sorondinki in Kano

The federal government has detailed a delegation of top government officials, led by the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi; Minister of Defence, Mohammed Badaru and Minister of Information and National Orientation, Mohammed Idris to the burial of Kano-born business mogul, Alhaji Aminu Dantata in Saudi Arabia, THISDAY learnt last night.

The news filtered in just as the Saudi Arabian authorities have approved the transportation of Dantata's body from Dubai to the Holy City of Medina for his final Islamic funeral rites.

Dantata, a prominent Nigerian businessman, philanthropist, and elder statesman whose influence spanned commerce, politics, and community development, died on June 28 this year at the age of 95.

Born in 1931 in Kano into the renowned Dantata trading family, he inherited a legacy of entrepreneurial

excellence pioneered by his father, Alhassan Dantata, one of West Africa’s wealthiest merchants in the early 20th century.

Aminu Dantata took charge of the family’s business interests in the 1960s and expanded them into a vast conglomerate with interests in construction, manufacturing, agriculture, oil and gas, and real estate. Under his leadership, the Dantata Group became a household name in Nigeria.

Beyond business, Dantata played significant roles in public life. He served as a commissioner in the old Kano State during the military era and has remained a respected voice in national affairs, often consulted for counsel by political leaders across generations.

Despite his wealth and status, he was best known for his humility and deep commitment to charitable causes, especially through scholarships, health interventions, and religious support, particularly for Islamic education and the Hajj.

At the solemn burial of Aminu

Signature Bank Appoints Nixon Iwedi MD/CEO

Kayode Tokede

Signature Bank Limited has announced the appointment of Mr. Nixon Iwedi as its Managing Director and Chief Executive Officer.

The appointment has been approved by the Central Bank of Nigeria (CBN).

The bank disclosed this in a statement yesterday, explaining that the appointment marked a pivotal step in the bank’s continued evolution and growth strategy.

Iwedi brings a wealth of experience and visionary leadership to Signature Bank, strengthening the bank’s management team as it strives to transform the bank into a formidable player in Nigeria.

According to the statement, Iwedi has over 28 years of industry experience spanning commercial and corporate banking, global transaction services and compliance.

“Nixon has consistently led various transformative initiatives that promoted sustainable growth in new/start-up institutions,” it added.

Until his appointment, Iwedi was the pioneer Executive Director and Executive Compliance Officer of Globus Bank Limited, where he actively drove the bank’s foray into the commercial and corporate banking space.

“His strategic insight and peoplefocused leadership will be instrumental in advancing Signature Bank’s strive to become a formidable player in the very competitive Nigerian Banking industry.

“Nixon started his banking career with GTBank in 1997 before joining Access Bank Plc in 2002. At Access Bank, he held several leadership positions including Group Head, Global Transaction Banking, Group Head, Large Conglomerates, and Zonal Head, Commercial Banking Group, Port Harcourt.

“In 2009, Mr. Iwedi was seconded to the Netherlands Development Finance Company (FMO) in The Hague as Senior Investment Officer, gaining international exposure in deal structuring, origination, and credit risk management,” it further stated.

He holds a Bachelor of Science degree in Chemistry from the University of Port Harcourt, as well as MBA degrees from Bangor University, UK, and the Rivers State University of Science and Technology.

He is an alumnus of INSEAD (France) and IMD (Switzerland) and is a certified member of both the Chartered Institute of Bankers of Nigeria (CIBN) and the Chartered Banker Institutes of Scotland and Wales.

Dantata, the Nigerian federal government delegation is expected to speak on behalf of President Bola Tinubu, acknowledging Dantata as a towering figure in Nigerian history.

Also yesterday, Alhaji Mustapha Junaidu, the principal private secretary to the late Dantata on his verified Facebook account, stated that the Saudi authorities had approved the movement of the businessman's remains from Dubai to Medina.

Junaidu said the delay in completing the burial arrangements was partly due to the weekend break, which impacted the pace of documentation and approval processes to transport the body to Medina for burial.

“It has been confirmed that Aminu Alhassan Dantata will be transported from Abu Dhabi to the holy city of Madinah for his final rites.

"Authorities have granted the necessary approvals for the transfer, and preparations are underway for the Janazah (funeral prayer), scheduled to take place tomorrow morning (Monday), Insha Allah,” Junaidu stated.

On Saturday, the Kano State chapter of the Council of Ulama conducted a special prayer in Kano for the late Alhaji Dantata, who will be laid to rest beside his wife in Medina.

in Medina Today

Bank CEOs Reaffirm Support for Flood Victims in Niger State, Donate Relief Materials

James Emejo in Abuja

Chairman, Body of Bank CEOs in Nigeria, Mr. Oliver Alawuba, has said the association remained committed towards alleviating the suffering of the recent flood victims in Niger State.

He gave the assurance while delivering sundry relief materials donated by the body to the State Governor, Mr. Mohammed Umaru Bago, in Abuja, over the weekend.

Alawuba, who is the Group Managing Director/Chief Executive, United Bank for Africa(UBA), was accompanied by other top members of the body including Group Managing Director/Chief Executive, Zenith Bank, Adaora Umeoji, Registrar/ Chief Executive, Chartered Institute of Bankers of Nigeria (CIBN), Mr. Akin Morakinyo, Managing Director/Chief Executive, Keystone Bank Limited, Mr. Hassan Imam, and Managing Director Taj Bank, Mr. Hamid Joda.

He said the donation of relief materials was in solidarity with the state government over the recent

devastating flooding which claimed lives and property in Mokwa Local Government Area of the state.- as well as a heartwarming display of corporate social responsibility by the body.

The items presented included bags of rice, beverages, vegetable oil, and mattresses worth millions of naira.

Alawuba expressed the banking industry’s deep sympathy for the affected communities and reaffirmed their dedication to sustainable support.

He said the gesture further underscored the banking sector’s commitment to corporate social responsibility and humanitarian intervention especially in times of crisis.

He said, "Today, we stand with the people of Niger State in their time of need. We want you to know that we feel your pain and we give you our firm resolve to assist in rebuilding lives.

"This donation is just the beginning; we pledge continued collaboration with the Niger State Government

to ensure long-term recovery and resilience."

However, receiving the donation on behalf of the state, Bago, commended the banking sector for its timely intervention.

He said, "This gesture reinforces the critical role of private-sector partnerships in disaster response.

"We are grateful for this support and look forward to deeper collaboration in safeguarding our communities against future challenges.

"On behalf of the good people of Niger State, particularly the affected families in Mokwa, I extend our sincerest thanks for this timely and compassionate intervention."

Continuing, the governor said, "The recent floods in the state brought immense hardship to the people, displacing families, destroying livelihoods, and disrupting communities.

"And the banking sector, under the leadership of Alawuba and his esteemed colleagues, has demonstrated that beyond financial stewardship,

they are true partners in national development and humanitarian service.

"This donation is not just about the physical items; it is a symbol of hope, resilience, and the unwavering support of Nigeria’s financial institutions in times of need. It reassures our people that they are not forgotten."

The governor further attributed the flooding to the impact of climate change, and called for a collaboration between the public and private sectors,. as well as commercial and financial institutions, in attending to climate action issues. He said attention should also be given to the possibility of water harvest.

He said the unfortunate incidences of flood can be mitigated by deliberately creating water harvest infrastructure for irrigation, sanitation, and drainage. Bago said, "We're calling on you to start thinking in the direction we are thinking, so that Nigeria can be sufficient in food and livelihood.

Bago; Chairman, Body of Bank CEOs and Group Managing Director/CEO, United Bank for Africa (UBA) Plc, Oliver Alawuba; Managing Director Taj Bank Mr. Hamid Joda;

Secretary to the Government of Niger State (SSG), Alhaji Abubakar Usman during the donation of relief materials from the Body of Bank CEOs in Nigeria, aimed at supporting victims of the recent devastating floods in Mokwa Local Government Area held at the Niger State House in Abuja at the weekend

Late Dantata

ANYANWU’S 60TH BIRTHDAY CELEBRATION...

L-R:

Presidency: Tinubu's State Visit to Saint Lucia Will Boost Relations with Caribbean Country

Says it's in tandem with Nigeria's foreign policy framework of democracy, development, diaspora, and demography

Deji Elumoye in Abuja

The presidency on Sunday rose in defence of President Bola Tinubu's ongoing state visit to Saint Lucia, saying the week-long visit will boost relations between Nigeria and the Caribbean.

It also emphasised that the visit was in line with the country's four D's foreign policy framework of democracy, development, diaspora, and demography.

The presidency, in a statement signed by presidential spokesperson, Bayo Onanuga, declared that in an era of global uncertainty, deepening cooperation among the Global South, particularly between continental Africa and the Caribbean, had become imperative.

It explained that Nigeria and citizens of the Caribbean had strong peopleto-people links, adding, "President Tinubu's visit aligns with Nigeria's Four D's foreign policy framework: Democracy, Development, Diaspora, and Demography.”

The statement said, “The visit supports the African Union's Sixth Region agenda, which identifies the African diaspora as a key development partner."

The presidency, in the release stated, "In the wake of some Nigerians' misguided, mischievous, and uninformed comments regarding President Bola Tinubu's historic state

visit to Saint Lucia, it is necessary to clarify the purpose of the visit.

"First, from the perspective of the government of Saint Lucia, the visit by the Nigerian leader paves the way for the rekindling of our ancestral bonds, igniting a new era of diplomatic, cultural, and economic possibilities between our nations.

"Like many Caribbean nations, Saint Lucia has a significant population of African ancestry. In the mid-19th century, a wave of immigrants from present-day Nigeria arrived in Saint Lucia, bringing with them cultural and religious practices that persist to this day.”

Onanuga stated, "Citizens of Saint Lucia are excited that President Tinubu has chosen to visit the island. They long to strengthen their bonds with African nations with which they share ancestral links.

"Saint Lucia is the headquarters of the Organisation of Eastern Caribbean States (OECS) and the gateway to the 15 CARICOM member states. The CARICOM states have a combined GDP of over $130 billion, a significant figure in South-South trade discourse.

"In an era of global uncertainty, deepening cooperation between the Global South, particularly between continental Africa and the Caribbean, has become imperative.

'Nigeria and the citizens of the Caribbean have strong people-topeople links.”

FG Declares Emergency on SulejaMinna Road, Terminates Contract

The Minister of Works, David Umahi, at the weekend declared an emergency on the ongoing work on the dualisation of the Suleja-Minna road, terminating the existing contract for lack of performance. Umahi stated that President Bola Tinubu was concerned with the deplorable state of the road and directed that urgent action should be taken to fix the road to restore the confidence of the road users.

He maintained that the contractor, Messrs. Salini Nigeria Ltd., was responsible for the failure in the delivery of the project on time and within specification. He added that the termination of the job due to non-performance was irrevocable.

However, Umahi, who also inspected Section I of the Abuja-Kaduna-ZariaKano federal road being constructed on continuously reinforced concrete pavement, said he was elated by the progress and quality of work being done by the contractor handling the

project, Infiouest International Limited.

He was accompanied by the junior minister in the ministry, Bello Goronyo; the Deputy Chief Whip of the Senate, Onyekachi Nwebonyi and spokesperson to Atiku Abubakar in the 2019 presidential campaign, Segun Sowunmi, and directors of key departments of the Federal Ministry of Works.

Umahi stated that the ongoing work vindicated the Federal Ministry of Works' decision to sever the contract with Julius Berger Nigeria Ltd due to cost differentials.

He praised the commitment of the President Bola Tinubu in ensuring speedy and quality delivery of the project, a statement by Umahi’s spokesman, Uchenna Orji, said. "Let me say that I am very grateful to Mr. President for the support in the reconstruction of this project. When we terminated this project because of the cost differences between the Ministry of Works and Julius Berger, it became a very big challenging task for me.

The statement disclosed, "Sir Darnley Alexander, a Saint Lucianborn jurist who died on February 10, 1989, served as Chief Justice of Nigeria from 1975 to 1979. He first came to Nigeria in 1957, recruited as a legal draftsman by the Western Regional Government of Chief Obafemi Awolowo. He became the acting Director of Public Prosecutions in 1958. In 1960, he was appointed Solicitor General and Permanent Secretary of the Western Regional Ministry of Justice. In 1964, he was appointed a judge in the Lagos High Court. In 1969, the defunct South Eastern State appointed him the chief judge.

"He later became the Chief Justice of Nigeria in 1975, succeeding Sir Teslim

FG

Olawale Elias.

"Sir Darnley was born in Castries, the capital of this Island state, in January 1920. He held multiple honours: QC, CBE, GCON, and SAN.

"Another Lucian, Neville Skeete, an architect, contributed to the design of the Central Bank of Nigeria's corporate headquarters.

"Additionally, Sir Darnley Alexander's son, Michael, served as a medical doctor on the frontline in the Nigerian Army during the tragic civil war.”

The presidency also stated, "Nigeria actively fosters cultural exchange through collaboration in education, culture, and heritage preservation. Our cultural exports,

Grants

including Afrobeats, Nollywood, and literature, are already making a significant impact on Saint Lucia and the wider Caribbean, enriching our shared cultural landscape.

"The Gros Islet Street Party is arguably one of Saint Lucia's most famous cultural events. It has been held every Friday for over 50 years.

"On the Friday before President Tinubu's arrival, Afrobeats and Nigerian music dominated the airwaves, a testament to Nigeria's growing soft power and cultural footprint.”

Onanuga explained, "Democracy as a Shared Value: Saint Lucia is a stable parliamentary democracy, making it a natural ally for Nigeria, which has

enjoyed 26 years of uninterrupted democratic governance.

"During the live coverage of President Tinubu's arrival and welcoming ceremonies at the Hewanorra International Airport on the National Television Network (NTN), a local commentator described President Tinubu as a ‘fighter for democracy’, citing his well-known pro-democracy record.

"Demography as a Strategic Asset: Nigeria is projected to become the third most populous country in the world by 2050. President Tinubu has consistently emphasised that Nigeria's youthful population is a driver of economic transformation via education, industrialisation, and innovation.

Kogi Govt 15 Mining Licences to Tap Mineral Resources

Ibrahim Oyewale in Lokoja

In line with its determination to diversify the economy and reduce dependence on federal allocation, the federal government has granted Kogi State Government a total of 15 mining licences in order to exploit its rich solid mineral resources.

Governor Usman Ododo disclosed the development in Lokoja at the weekend while speaking at the international conference, exhibition, and 25th Annual General Meeting (AGM) of the Nigerian Institution of Metallurgical, Mining and Material Engineering (NI3ME), an arm of the Nigerian Society of Engineers (NSE).

Ododo, represented by his deputy, Joel Oyinbo, explained that the strategic move was geared towards boosting the state’s economy and rapid development.

In addition to the licences, the

governor explained the state had made substantial investments in education, human capital development, and creation of the Kogi State Solid Minerals Company.

He emphasised with delight that Kogi was at the centre of Nigeria’s solid minerals map, stating that if fully harnessed, it can transform not only its local economy but the nation at large.

The governor said, “One of the key steps we have taken is procuring modern mining machinery for the Kogi State Mineral Processing Company. This initiative is designed to facilitate the processing of various minerals extracted from our state, thereby adding value to these resources and contributing to industrialisation.

“By equipping the company, we are enhancing the efficiency of our mining operations and ensuring that we are

aligned with global best practices in the mining industry.

“In addition to modernising our processing facilities, the state government has also acquired fifteen (15) mining licenses for strategic mineral deposits within Kogi State. These licenses cover some of the most valuable and untapped resources, including limestone, coal, tin, iron ore, and bauxite.

“With these licenses, we are laying a strong foundation for sustainable mining operations that will create jobs, generate revenue, and contribute to the socioeconomic development of our state.”

Ododo said, “Under my leadership, the executive arm of the Kogi State government is working with the state Assembly to enact laws to prohibit illegal mining, strengthen artisanal and small-scale mining, address environmental

degradation, and ensure sustainable mining practices in the state. This effort of the state government includes targeting 25,000 youths for training and engagement in the mineral and mining sector.”

National Chairman of NI3ME, Professor Abdulrahman Salawu, in his address, bemoaned the overdependence on oil to the detriment of other economic potential, calling for an urgent reversal of the trend.

Salawu said, “By developing the metals and solid minerals sectors, we can boost employment, improve living standards, and create opportunities in other critical industries such as agriculture, manufacturing, and tourism.

“Therefore, this conference aims to chart a sustainable path towards achieving these noble objectives.”

FG Empowers ICRC To Implement Approval Thresholds For PPP Projects

MDAs can now approve PPP projects below N20bn, subject to ICRC guidelines and certification

Deji Elumoye in Abuja

President Bola Tinubu has empowered the Infrastructure Concession Regulatory Commission (ICRC) to implement a more efficient and better streamlined Public-Private Partnership (PPP) project delivery process by approving PPP thresholds for Ministries, Departments, and Agencies (MDAs). Until now, all PPP projects,

regardless of size, were subjected to Federal Executive Council (FEC) approval, resulting in extended processes and limiting the participation of MDAs with small and mid-scale projects.

The new policy decentralises the approval process, allowing MDAs to approve projects below specified thresholds under the ICRC guideline, thereby supporting all scales of projects and encouraging broader private sector

investment in PPPs. At the just-concluded Nigeria PPP Summit 2025, President Tinubu declared that his administration was strengthening the ICRC as the “engine room of Nigeria’s infrastructure revolution,” noting that PPPs would be pivotal in driving transformative development across the country.

Director General of the ICRC, Dr Jobson Oseodion Ewalefoh, who disclosed the presidential approval

in a statement issued on Sunday said: "Under the new directive, PPP projects valued below ₦10 billion for Parastatals/Agencies and ₦20 billion for Ministries will now be approved by respective Project Approval Boards (PABs) that will be constituted under ICRC guidelines and regulations. Only projects exceeding these thresholds—or those involving multiple Ministries and requiring inter-agency coordination— will require FEC approval.

Emmanuel Addeh in Abuja

Former Senate President, Bukola Saraki; former Governor of Abia State, Dr Okezie Ikpeazu; FCT Minister, Nyesom Wike; PDP National Secretary, Senator Samuel Anyanwu; his mother, Mrs Virginia Anyanwu; Prof Jerry Gana; Chief Chris Uba; and Senator Mao Ohuabunwa at the presentation of a book titled Sam Daddy In My Eyes and celebration of Anyanwu’s 60th birthday in Abuja on Saturday

APC: Will Sacrificing Ganduje Neutralise Opposition’s Threat Ahead of 2027?

Last Friday, the National Chairman of the a ll Progressives Congress, Dr. a bdullahi Ganduje, resigned his position on health grounds, but available information in the political space suggested otherwise. Adedayo Akinwale reports.

Just as it was witnessed in 2013, when the coalition of political parties and aggrieved members of the then ruling party, the Peoples Democratic Party (PDP) came together to form the All Progressives Congress (APC), not everyone gave them the chance to do the impossible — defeating former President Goodluck Jonathan and his party in the 2015 general election.

However, ahead of the 2027 elections, a similar scenario is already playing out with displaced and aggrieved politicians in the APC, as well as opposition party leaders submitting their letter of intent to the Independent National Electoral Commission (INEC) to form All Democratic Alliance (ADA) to charge the ruling party.

President Bola Tinubu, being a strong member of coalition in 2013 that later metamorphosed into APC, which saw the end of the PDP is not lying low, with opposition leaders ready to use the same strategy to dislodge him come 2027.

With the race for 2027 in full sprint, Tinubu wasted no time in bringing out one of his political cards when the news of the resignation of the National Chairman of APC, Dr. Abdullahi Ganduje filtered in last Friday. His sudden resignation created palpable anxiety and shock at the national secretariat of the party.

The former Kano State governor had tendered his letter of resignation to the National Working Committee (NWC) in the early hours of Friday, citing health reasons. Expectedly, the development created serious uncertainty and anxiety as secretariat staff were seen discussing the development. Ever since his resignation, many reasons have been given for his sudden exit. While some argued that the incident of the protests during the APC North East zonal stakeholders meeting held in Gombe State over the exclusion of the name of Vice President Kashim Shettima in the endorsement of Tinubu for

the 2027 presidential election, others claimed that the alleged racketeering in the conduct of the Federal Capital Territory (FCT) Area Council primary election was the last straw that broke the camel’s back.

They were of the opinion that despite the protest at the party’s national secretariat by loyal party members, the Ganduje-led NWC had allegedly favoured the defector aspirants that joined the party few months and weeks to the party’s primary.

Be that as it may, the expected return of the Presidential candidate of the New Nigeria Peoples Party (NNPP) in the 2023 elections, Senator Rabiu Kwankwaso might have played a huge role in the decision of the president to show Ganduje the way out.

It was a known secret that Tinubu had long courted Kwankwaso, who is also considering joining the opposition coalition led by former Vice President Atiku Abubakar.

Nevertheless, with Ganduje at the helm of affairs in APC, it would be

very difficult for Kwankwaso to return to the ruling party. It was based on this premise that Ganduje’s exit was widely seen as a deliberate gesture to smoothen the path for the return of Kwankwaso to the APC, potentially neutralising northern opposition and strengthening Tinubu’s 2027 base.

Apparently, Tinubu’s first major political move is already setting the stage for the 2027 presidential race. For instance, last Thursday, the President ensured the reconciliation between suspended Rivers State Governor, Siminalayi Fubara and the Minister of Federal Capital Territory (FCT), Nyesom Wike, all pointing to a calculated realignment of forces across Nigeria’s key voting blocs.

With Wike and Fubara seemingly sheathing their swords under Tinubu’s watch, the reconciliation also signals Tinubu’s intent to control the political narrative in the Southsouth. With Lagos, the President’s traditional stronghold, and a potentially united Kano front, insiders say Tinubu is stitching together a formidable tri-regional alliance that could give him a decisive edge in 2027.

Definitely, it won’t be out of place to say that with the on-going political chess game, Tinubu’s decisive move was already neutralising the threats of the opposition

Definitely, it won’t be out of place to say that with the on-going political chess game, Tinubu’s decisive move was already neutralising the threats of the opposition led by ex-Vice President Atiku Abubakar; former Governor of Kaduna state, Mallam Nasir ElRufai; his estranged political son and former Minister of Interior, Ogbeni Rauf Aregbesola, among others, ahead of the 2027 elections.

led by ex-Vice President Atiku Abubakar; former Governor of Kaduna state, Mallam Nasir El-Rufai; his estranged political son and former Minister of Interior, Ogbeni Rauf Aregbesola, among others, ahead of the 2027 elections.

With Ganduje’s exit, stakeholders of the party from the North Central zone wasted no time in renewing their clamour for the party’s national chairmanship seat.

Since its formation in 2013, APC has had six different national chairmen. They are: Chief Bisi Akande (2013–2014), Chief John Odigie-Oyegun (2014–2018), Comrade Adams Oshiomhole (2018–2020), Mai Mala Buni (2020–2022), Senator Abdullahi Adamu (2022–2023) and Dr Abdullahi Umar Ganduje (2023–2025).

Investigation revealed that Ganduje’s resignation has however unearthed the agitation by leaders of the party from the North Central geo-political zone to have the office of the National Chairman reversed to the zone, in line with the 2022 zoning formula of the party.

The zone lost the position to the North West following the resignation of Senator Abdullahi Adamu. His resignation paved the way for the emergence of Ganduje as the National Chairman in August 2023 at the 12th National Executive Committee (NEC) meeting in Abuja.

In spite of the opposition by some groups from the North Central zone to Ganduje’s appointment, the NEC meeting of the party held in February, 2025 reaffirmed the appointment and zoning of the office of the party’s National Chairman to the North West. With this latest development, some party leaders from North Central have gone back to the trenches with a new wave of agitation for the region to have the seat back.

Tinubu

Ganduje

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opinion@thisdaylive.com

TINUBU’S STRUGGLES FOR JUNE 12 AND DEMOCRACY

SHEYI MONEY reckons that President Bola Tinubu has paid his dues

CBN'S MEASURED INTERVENTION TOPE FASORANTI argues that the CBN recent directive on temporary suspension of dividend payments and bonuses is aimed at stabilising the Nigerian banking sector

WHY THE FIRST STEP IS THE HARDEST

LINUS OKORIE writes on how to take the first hesitant step which may lead to a roaring success

We have all been there—facing down the decision to start something new, a step toward a goal, or a commitment to change. You feel the pressure of its importance, but somehow, instead of starting, you linger in place. Why does taking the first step feel so intimidating?

The struggle to start is not always laziness or lack of desire; it is anticipatory anxiety. A phenomenon that shows that our brains are wired to protect us from the unknown, magnifying fears, doubts, and insecurities the moment we consider leaving our comfort zones. This resistance to change is normal, but if left unchecked, it becomes a barrier to progress and fulfilment.

However, the good news is that anyone can overcome the inertia of that first step by understanding the mental blocks at play and using simple strategies to break them. Several mental barriers often keep us from taking the first step, and one of the most common is fear of failure. The fear of falling short can paralyze us before we even try. Whether starting a business, applying for a dream job, or writing a book, we are often haunted by "what if" questions that focus on negative outcomes.

Perfectionism is another key barrier, and perfectionists are especially susceptible to paralysis by analysis. They hesitate to start until they feel everything is perfectly planned or the conditions are ideal, making them wait endlessly. Additionally, the enormity of a goal can be overwhelming. Sometimes, reaching the top of a mountain looks insurmountable, and that perception alone can be enough to keep us from climbing.

going after those initial minutes.

Shifting focus from results to the process also helps. When we focus exclusively on results, it amplifies anxiety. Instead, focus on engaging in the process itself. A Harvard study found that people who emphasize learning over achievement experience less stress and are more likely to start projects. This focus on the process makes each step its own reward, reducing the pressure tied to achieving a particular outcome.

Visualizing success while also preparing for setbacks is another effective strategy. Visualization is powerful, but so is preparing for obstacles. When you imagine yourself succeeding, it primes your mind for positive action. However, studies show that balanced visualization—where you also anticipate

manageable actions, has helped millions build successful habits and reach goals that once seemed impossible.

History is filled with stories of individuals whose first steps led to monumental success in their careers. Oprah Winfrey was a smalltown news anchor who struggled with selfdoubt and rejection in her early career. Her first step was to take a low-paying job in television news that ultimately gave her a name in media. Another example is J.K. Rowling, who before becoming one of the best-selling authors of all time, was a struggling single mother, rejected by 12 publishers. The first step of writing Harry Potter in a small café, despite her circumstances, was her pivotal moment. Each small task involved completing chapters, submitting manuscripts, and revising them eventually led to her success.

Finally, fear of the unknown adds another layer of difficulty. As humans, we gravitate toward familiarity, and venturing into uncharted territory can activate our primal “fight or flight” instincts. This is why even positive change can cause apprehension. When you realize that these psychological hurdles are normal, they become less personal and easier to manage. Recognizing that the reluctance you feel is a natural part of the process can be the first step in disarming it.

Knowing the psychological roadblocks is only half the battle. To overcome them, you need actionable strategies. A powerful approach is to break down the goal into small, achievable tasks. The prospect of starting an enormous task can be paralyzing, so break it into smaller steps. Consider an aspiring author: instead of setting out to “write a best-selling book,” the task can be simplified to “write 300 words per day.” This shift reframes the goal, making it manageable and easier to begin. Psychologists recommend the “two-minute rule”—if you are putting off something, commit to doing just two minutes of it. For instance, if you want to start a fitness routine, begin with two minutes of stretching. More often than not, you will want to keep

challenges and plan how to respond—leads to greater persistence and resilience. One exercise that may help is called “mental contrasting.” Visualize your success, then think of potential obstacles, and plan how you will overcome them. This technique reduces your fear of failure by reframing obstacles as part of the journey.

Lastly, embrace imperfection. Perfectionism is often the enemy of progress. Embrace the idea that your first attempt does not have to be flawless; it just has to be a start. It is better to start messy and refine as you go than to wait indefinitely for the perfect moment.

The truth is that taking small initial actions has a cumulative effect that can lead to enormous achievements. This phenomenon, known as the “snowball effect,” leverages the power of momentum. Once you begin, each completed action builds confidence, motivation, and a sense of accomplishment, which propels you forward.

James Clear, the author of Atomic Habits, illustrates how small, consistent actions compound over time. Clear advocates for a 1% improvement each day, which can result in remarkable progress. If you improve just 1% daily, you will be 37 times better after a year. This approach, which emphasizes small,

Every thriving business today was once a startup driven by founders who dared to take the first step and relentlessly pursue their vision. The story of Steve Jobs and the inception of Apple are business case studies of compound effect. In 1976, Jobs and his partner Steve Wozniak started Apple from a garage, building a prototype that did not have all the answers but served as a crucial first step. From there, each small step involved repairing the prototype, finding an investor, improving the product that grew Apple into one of the world’s most valuable companies. He even launched other successful companies by leveraging Apple’s earlier success.

Elon Musk also exemplifies the power of small steps. Musk’s vision for SpaceX seemed unrealistic at first. After multiple failed rocket launches, many wrote off the company. Yet, Musk’s incremental steps, from securing funding to engineering solutions for each failure, ultimately led to SpaceX’s success in launching and reusing rockets, a breakthrough in space technology.

The journey to achievement and fulfilment is often starts with a single, sometimes scary step. Recognizing that it is normal to feel intimidated by beginnings is crucial. You need to understand the psychological barriers that hold you back, employ practical strategies to start with confidence, and embrace small steps.

The first step is the hardest—but also the most important. As Confucius said, “The journey of a thousand miles begins with a single step.” Embrace that truth, and you will find that even the smallest actions can lead to profound accomplishments. Remember, greatness often begins with a hesitant first step. The only way to unlock your potential is to take it.

•Okorie MFR is a leadership development expert spanning 30 years in the research, teaching and coaching of leadership in Africa and across the world. He is the CEO of the GOTNI Leadership Centre

FEaturEs Beyond the Facade, Unravelling the Mental Health Reality of the Male Gender

As the world observes Men's Mental Health Awareness Month in June, with a focus on ‘Closing the Empathy Gap in Men's Health’, Sunday Ehigiator sheds light on the vital role Nigerians can play in promoting mental health awareness and empathy among the male gender and in this case, celebrities- by breaking down the barriers that prevent them from openly discussing their struggles

In our fast-paced, image-driven world, particularly within the entertainment industry, the concept of ‘strength’ has been narrowly defined by societal expectations.

For men, this has meant embracing a rigid façade of silence, stoicism, and resilience, a mask that conceals vulnerability, emotion, and weakness. The pressure to maintain this image is overwhelming, with men feeling compelled to smile through the storms, hide their struggles, and present an unshakeable exterior to the world.

This toxic definition of strength has far-reaching consequences, perpetuating a culture of emotional repression, mental health stigma, and isolation. This is because men have been groomed to believe that showing emotion, admitting vulnerability, or seeking help is a sign of weakness, rather than a sign of courage. This can lead to devastating outcomes, including untreated mental health issues, strained relationships, and a lack of genuine connection with others.

However, as we gain glimpses into the lives of celebrities and the behind-the-scenes narratives of the political and entertainment industry players, we're beginning to see the urgent need to redefine what strength truly means.

We're witnessing a growing number of men in the public eye speaking out about their mental health struggles, sharing their vulnerabilities, and showcasing a more authentic, imperfect version of themselves.

This shift is helping to dismantle the outdated notion that strength requires silence and stoicism, and instead, highlighting the importance of emotional intelligence, vulnerability, and open communication. However, a culture of nonacceptance still exists, where men are expected to speak out, yet often face criticism for doing so.

Beneath the Glamour

Speaking on men’s mental health, celebrity media personality, Chinedu Ani, popularly known as ‘Nedu Wazobia’, noted that, “In this line of work, you learn quickly that your voice is your currency.

“What you say, how you say it and sometimes, even what you don’t say, can shape how people see you. But the truth is, the media is more complex than most people think.

“What’s shared may serve a specific purpose: satire, social commentary, or just plain provocation. Yet, these moments often get taken at face value, stripped of context and held up as fact.

“Over the years, I’ve been many things to many people: a comedian, a broadcaster, a podcaster, and at times, a headline. There have

been moments when things I’ve said or done have been misinterpreted, taken out of context, or amplified in ways I didn’t intend. It comes with the territory. But with that visibility also comes responsibility. I’ve learned that deeply.

“There’s also a deeper layer, one that doesn’t often make the blogs. The toll that public life can take on your mental and emotional state. As men, and especially as men in entertainment, there’s pressure to be sharp, be loud and be unaffected. You’re rewarded for your resilience but rarely given space to reflect or reset.

“I won’t pretend I’ve always gotten everything right. But I will say this: growth is a process. Healing is a process. And if I’m being honest, this season has required both. I’ve had to listen more. Reflect more. Ask harder questions of myself. I’ve had to separate what’s real from what’s assumed, and that includes navigating public perception that doesn’t always reflect who I am or what I stand for.

“There have been claims and conversations, some louder than others. But there’s peace in knowing the truth and in knowing that when due process is followed, it speaks for itself. Sometimes, that’s all you can hold on to: your truth and the systems that still work.

“One narrative I’ve had to unlearn and I hope others will too is that strength means silence. It doesn’t. True strength is in asking for help, in seeking clarity, in evolving. It’s in knowing when to speak up and when to walk away. It’s in understanding that being a man doesn’t mean being invulnerable.

“If I’m writing this today, it’s not just as a public figure. It’s from the place of someone who has felt the weight of public misunderstanding and chosen to stay open anyway, someone who has had to sit with uncomfortable truths and still return to the mic with purpose.

“Mental health shouldn’t be a PR moment or a soft trend. For men, especially those in spaces like mine, it needs to be a core part of the conversation. We are not machines. We are people. And we deserve the grace to grow.

“So this month, I’m joining the call not to declare myself perfect, but to remind other men that healing is possible. That being misunderstood doesn’t have to define you. That even in the spotlight, there’s room to pause, to reflect, and to find your way back

to yourself.

“Because at the end of the day, strength isn’t in pretending nothing ever touched you. It’s in learning how to stand, still human, after it did.”

President Emmanuel Macron and Adeoluwa Enioluwa

Using the case of France President, Emmanuel Macron, and Celebrity Influencer, Adeoluwa Eniola, to address the public’s negative reactions on issues around men’s mental health, Executive Director, Life After Abuse Foundation, Halima Layeni, noted that society has normalised emotional suppression of men and violence against men.

According to her, “The recent online backlash against Nigerian influencer Enioluwa Adeoluwa for crying at his best friend's wedding and the widespread mockery of French President Emmanuel Macron being pushed by his wife, Brigitte Macron, highlight a deeper issue: society's normalisation of emotional suppression and violence against men.

“Enioluwa's tears were met with venomous comments from Nigerian men, revealing a culture that punishes vulnerability and emotional expression in men. This toxic masculinity is rooted in the idea that men must be stoic, dominant, and emotionally detached. Boys are taught to suppress their feelings, deny their pain, and never show vulnerability.

“Similarly, the incident involving President Macron sparked widespread mockery and jokes, rather than outrage and concern. This reaction highlights society's normalisation of violence against men. When men experience domestic violence, they are often met with silence, ridicule, and shame.

“This stigma can be deadly, as men are less likely to report abuse and seek help due to fear of not being believed or being seen as weak. The crisis of domestic violence against men requires urgent attention. We need more initiatives, safe houses, and trained professionals to support male survivors.

“Mainstream media must treat violence against men as a serious issue, rather than a laughing matter. Governments must also play a role by providing inclusive funding for prevention, shelters, legal aid, and trauma support. Protection and support should never be selective or conditional.

“Healthy masculinity requires compassion, empathy, and self-awareness. We must raise

men who are free to feel, cry, and be vulnerable. This means rewiring the way we raise boys, promoting emotional expression and vulnerability, and encouraging whole, healthy masculinity.

“It's time to stop treating abuse as a gendered issue and start treating it as a human one. Every victim matters, regardless of gender. We must create a society where men's suffering is taken seriously, rather than being the punchline.”

Rethinking Strength

While Macron and Eniola’s case is not in isolation, the CEO of Lemon-Lime Nigeria Limited, Abiola Yahaya, noted that it’s high time Nigerians begin to rethink what strength for men truly is.

According to her, “As a communications strategist and CEO of LemonLime Nigeria Limited, a fresh voice in Nigeria’s PR space, I work closely with brands, public figures, and creatives to shape stories that connect.

“What I’ve learned is that the public is no longer interested in perfection; they want authenticity. And authenticity requires vulnerability, especially from men who have traditionally been told to ‘man up’ or suppress emotion for the sake of their careers.

“The mental health crisis among men in the entertainment industry is real. Beneath the glamour are pressures to constantly perform, remain relevant, and please fans, critics, and sponsors alike. These silent battles often go unnoticed until they erupt into public breakdowns, substance abuse, or even worse, tragic loss.

“Strength, today, must include the courage to ask for help. It must allow room for therapy, tears, and a timeout. We must create safe spaces for entertainers, particularly men, to say, “I’m not okay,” without fear of ridicule or career consequences.

“At LemonLime Nigeria Limited, we are deeply invested in reshaping narratives. Beyond curating compelling campaigns, we believe that the most powerful story is the one that tells the truth. Our work with modern brands involves not just amplifying wins but also normalising struggle, mental rest, and emotional honesty.

“Rethinking strength means recognising that men, especially those in the spotlight, are human first. Their mental health is not a PR risk; it is a public responsibility. The more we share real stories, the more we shatter the stigma and raise a generation that sees strength not as suppression, but as self-awareness.

“It’s time we move from a culture of ‘be strong’ to one of ‘be supported’. That is the real strength we need in entertainment and beyond.”

POLITY

Unpacking the Perils of a Budding One-Party System

Oskar Nwaudah

The shadow of single-party dominance over Nigerian democracy looms large. Nigeria’s vibrant, albeit often turbulent, multi-party system is showing disquieting signs of a gradual metamorphosis into a de facto one-party state.

While the facade of a pluralistic political landscape remains, the ascendant dominance of a single political behemoth, coupled with the systematic attrition of opposition strength, casts a long shadow over the future of democratic governance in Africa’s most populous and influential nation.

This insidious trend, if not urgently addressed, risks unraveling decades of arduous democratic consolidation and portends grave consequences for the integrity of governance, the delicate fabric of national unity, and the prospects for sustainable economic development. The promise of a truly representative Nigeria hangs in the balance.

The Fraying Fabric of Democratic Norms

The unraveling of checks and balances is arguably birthing an asymmetrical power dynamic. The most immediate and corrosive consequence of a burgeoning one-party system is the insidious erosion of fundamental democratic checks and balances. In the absence of a robust and effective opposition, the ruling party operates with diminishing accountability, fostering an environment ripe for unilateral decision-making that circumvents essential parliamentary scrutiny and meaningful public consultation.

This dangerous concentration of power strikes at the very heart of the separation of powers, a cornerstone of Nigeria’s constitutional framework designed to prevent tyranny and ensure responsible governance. The potential for unchecked executive power and the marginalization of legislative and judicial oversight becomes stark realities.

Historical Precedents: Lessons from Africa and Beyond

Similar trends have been observed in other African countries, such as Uganda and Rwanda, where dominant parties have maintained power through a combination of electoral manipulation and opposition suppression. In these instances, the erosion of democratic institutions has led to human rights abuses, economic stagnation, and social unrest. Nigeria can learn from these examples and take proactive measures to avert a similar decline.

When ballots lose their meaning, this foreshadows the eclipsing of electoral integrity. As one party entrenches its control, the sanctity of the electoral process, the bedrock of any democracy, risks being reduced to a mere symbolic exercise rather than a genuine reflection of the people’s will.

There are increasing and troubling allegations of manipulation tactics employed throughout the electoral cycle; these include insidious voter intimidation, partisan administration by ostensibly neutral electoral bodies, and the unsettling influence of questionable judicial interventions in post-election disputes.

When citizens develop a pervasive perception that electoral outcomes are preordained, a corrosive voter apathy takes root, creating a self-perpetuating cycle that further solidifies single-party dominance by discouraging participation and dissent. The legitimacy of the government becomes increasingly questioned.

Data-Driven Insights: Electoral Trends, Governance Indicators

According to the International Institute for Democracy and Electoral Assistance, Nigeria’s electoral integrity has been declining in recent years, with a significant drop in the perceived freedom and fairness of elections. The World Bank’s Worldwide Governance Indicators also show a decline in Nigeria’s

voice and accountability scores, underscoring the urgent need for action to restore democratic governance.

The Muzzling of Political Dissent

The systematic targeting of opposition voices will effectively lead to silencing the alternative tendencies. Recent years have witnessed a disturbing pattern of opposition politicians facing what appear to be politically motivated charges, arbitrary detentions, and protracted legal battles.

High-profile instances of opposition leaders being controversially disqualified from electoral contests or enduring seemingly endless judicial proceedings raise serious concerns about a deliberate strategy to systematically suppress alternative political viewpoints and cripple the opposition’s ability to effectively challenge the ruling party. This chilling effect extends beyond individual politicians, discouraging wider participation in opposition politics.

Expert Perspectives: Voices from Civil Society

Dr. Wole Olaiya, a Nigerian democracy expert, notes, “The suppression of opposition voices is a recipe for disaster. It undermines the very foundation of democracy and creates an environment ripe for authoritarianism.” Civil society organizations, such as the Nigerian Civil Society Situation Room, have similarly raised alarms about the erosion of democratic space and the urgent need for protective action to safeguard Nigeria’s democracy.

The Shrinking Civic Space: Constricting Democracy’s Oxygen

Civil society organizations (CSOs) and independent media outlets, vital pillars of a healthy democracy, are facing escalating restrictions through a combination of legal and extra-legal pressures. The enactment of vaguely worded or unduly restrictive legislation, the arbitrary freezing of activists’ financial assets, and the intimidation and harassment of critical journalists cultivate a climate of fear that stifles open political discourse and

discourages the exercise of fundamental rights to free expression and assembly.

This gradual silencing of dissent dismantles crucial feedback mechanisms essential for holding the government accountable and responding to the citizenry’s needs.

The Vacuum of Competitive Policymaking: The Perils of Groupthink

Genuine political competition serves as a powerful catalyst for innovative and responsive governance solutions. In its absence, policymaking risks becoming insular, detached from the diverse needs and perspectives of the populace, and susceptible to groupthink. Without the rigorous challenges and alternative approaches offered by a vibrant opposition, government programs often lack thorough scrutiny, leading to inefficiencies in implementation, misallocation of resources, and ultimately suboptimal outcomes for the Nigerian people. The dynamism inherent in a multi-party system is lost.

The insidious decay of institutions, loyalty over competence and entrenched single-party dominance often accelerates the insidious deterioration of critical public institutions as appointments to key positions increasingly rely on political loyalty rather than demonstrable competence and merit.

Vital agencies responsible for key functions, such as economic management, national security, and the fight against corruption, become politicized, severely undermining their effectiveness and impartiality. This institutional decay disproportionately impacts ordinary Nigerians through the erosion of public services, the exacerbation of economic hardship, and a decline in overall governance quality.

The Vicious Cycle of Corruption and Economic Regression

Historical evidence overwhelmingly demonstrates that unchecked political power creates fertile ground for the proliferation of corruption. Without meaningful and effective opposition oversight, corrupt practices, ranging from the inflation of government contracts to the normalization of nepotistic appointments and outright embezzlement

of public funds, become deeply entrenched within the system.

Nigeria’s already significant challenges with corruption would likely be dramatically amplified in a one-party scenario, with devastating consequences for economic development and social equity.

The Costly Erosion of Investor Confidence

The international business community closely monitors political developments in major economies like Nigeria, recognizing the strong link between political stability and economic prospects. Visible signs of democratic backsliding, the weakening of institutions, and the suppression of dissent send negative signals to potential foreign direct investors, crucial for Nigeria’s economic growth and job creation.

Likely outcomes include capital flight, increased currency instability, and a significant reduction in overall economic growth, further exacerbating existing problems of unemployment and poverty.

The Looming Threats to National Stability

The radicalization of marginalized groups flow from systematic political exclusion and the perception of being perpetually disenfranchised often serve as potent catalysts for the seeding of dissent in regions and groups within Nigeria. When political mechanisms fail to address the concerns and aspirations of diverse communities, particularly in the North-East and Niger Delta regions, frustrations can escalate into violence and extremism. The lack of inclusive governance and equitable resource distribution fuels grievances, leaving disenfranchised populations vulnerable to manipulation by extremist factions. This radicalization poses a serious threat to national security and social cohesion.

The Possibility of Civil Unrest: A Tipping Point for Chaos

As political discontent mounts, the risk of civil unrest becomes increasingly palpable. Historical precedents from Nigeria’s past, marked by widespread protests, strikes, and even violent uprisings, illustrate how public frustration can culminate in chaos.

As citizens grapple with the dual burdens of economic stagnation and political disenfranchisement, the potential for mass mobilization against perceived injustices looms large. Such unrest not only jeopardizes the stability of the state but can also deter foreign investment and exacerbate economic woes.

In light of these precarious dynamics, urgent action is required to safeguard Nigeria’s democratic framework and prevent the full realization of a one-party state. Political leaders, civil society, and everyday citizens must unite in a commitment to restoring integrity to the electoral process, safeguarding the rights of dissenters, and establishing effective checks and balances.

Initiatives that promote civic education, encourage active participation in governance, and bolster the independence of electoral institutions are essential for fostering a democratic culture grounded in accountability and responsiveness.

The Imperative for Collective Commitment In closing, Nigeria stands at a crossroads, with the potential for either vibrant democratic renewal or the perilous path toward autocracy. The creeping monolith of a one-party system threatens both the nation’s political integrity and its social fabric. It is incumbent upon all stakeholders, government, civil society, and citizens to actively engage in the defense of democratic ideals, uphold the rule of law, and promote a political environment that truly reflects the diverse voices of Nigeria’s populace. The commitment to resisting the allure of singleparty dominance and nurturing a pluralistic democracy is vital for securing a prosperous and harmonious future for Nigeria.

•Dr. Nwaudah, public affairs analyst, writes from Asaba

Tinubu

SHEYI MONEY reckons that President Bola Tinubu has paid his dues

TINUBU’S

STRUGGLES FOR JUNE 12 AND DEMOCRACY

In an interview with TheNEWS magazine over a decade ago, Senator Bola Tinubu, the current president, disclosed how he got into politics: “The MD of Mobil, Bob Parker, thought I was crazy when I told him I wanted to join politics. I also told the Finance Director, Akinyelure, that I wanted to join politics and use my brain for my country and that I couldn’t continue to be an armchair critic. The two of them could not believe what I said. They said, given my career path in Mobil, if there was any chance of anybody becoming something there, then I would be the one. I stood my ground and said, I would give it a try. I told them people do it in America and Bob Parker agreed. They said they would give me a leave of absence for four years, during which they would not fill my position. They later said they would not stop me because it would rub off

positively on them if I became successful in politics. They told me to come back and take my position if I found it uninteresting and unchallenging. So I contested the Lagos West Senatorial District election. The political leaders in the Social Democratic Party just assigned Lagos West, which was the most challenging district, to me and said I had the money, personality and the wherewithal.” It is no longer news that Tinubu won the July 4, 1992 election into the Senate of the Federal Republic of Nigeria. The 30 state governors, who had won the December 1991 elections, had been sworn in on January 2, 1992. Despite the several postponements in what appeared to be an unwarranted endless transition programme of the military junta, there were high hopes that a civilian president would emerge to climax Nigeria’s transition to the Third Republic. Nigerians were fed up with the oppression and tyrannical rule of the military and were in thirst of democracy. Tinubu, speaking on the floor of the Senate on behalf of Social Democratic Party (SDP), implored Ibrahim Badamasi Babangida to write his name in gold by handing over the reins of power to a democratically-elected president. As the military junta began to shift the goal-post of the presidential election, banning, unbanning politicians amidst rumours of diarchy, Tinubu and other democracy icons mobilised for a joint session, across party lines, of the Senate and House of Representatives. The National Assembly, in the historic resolution against elongation of military rule, buried the idea of diarchy in any form. Through his struggles to ensure the inauguration of a democratically-elected president, Tinubu became a persona non grata in the IBB regime. The military junta reluctantly committed itself to holding the presidential election on June 12, 1993. It turned out to be the freest and fairest poll in the annals of Nigeria. Following the unwarranted annulment of the election by Babangida on June 23, 1993, Tinubu pressed every button, used every connection to ensure MKO Abiola reaped the fruits of his mandate. It was widely reported then in the media how Alhaja Abibat Mogaji, the mother of Tinubu, with her grey hair, earnestly begged Babangida to de-annul June 12 and allow Abiola to be sworn in as president. The Interim National

Government installed by IBB offered Tinubu a ministerial appointment, which he rejected, insisting on the restoration of the June 12 mandate of MKO. Suddenly, Generals Abacha and Diya came into the mix, promising to remove Shonekan and install Abiola as president. It turned out be a stratagem. Tinubu mobilised his fellow senators to openly pronounce Abacha’s government as illegal. They were accused of treason. He, along with his pro-democracy colleagues, was incarcerated for weeks in a cell at Alagbon police station in Lagos. The military men later broke into his home and carted away his property; they equally ransacked his mother’s house. Tinubu was hounded into exile by the Abacha goons; he only escaped death by the thin of his skin; a few others were not so lucky. For two years, he did not set his eyes on his family on account of the struggle against military rule. The Abacha agents were everywhere, both in Nigeria and abroad, and ready to strike the democracy activists. In one or two incidents, Tinubu was nearly arrested in Benin Republic, from where he sneaked into Nigeria regularly to hold meetings against the junta. Even while in the thick of the struggle in the United Kingdom and America, life was not exactly safe for Tinubu and other democracy icons. In his memoirs, You Must Set Forth At Dawn, Nobel Laureate Wole Soyinka referred to the role of Tinubu in the NADECO/NALICON struggles against the fascism of Gen. Sani Abacha: “Our allied financial wizards prepared plates for Liberation Bonds in readiness for D-Day. Others set up small ventures, specifically for the causeone, Bola Tinubu, who had escaped from Abacha’s dragnet through a hospital window, and would later become the elected governor of Lagos Stateset up a trade in rice with Taiwan!” On page 163 of his seminal work, Out of the Shadows: Exile and the Struggle for Freedom & Democracy in Nigeria, Dr Kayode Fayemi, former Governor of Ekiti State, observed: “General Akinrinade had been largely saddled with the expenditure of NADECO in exile, as well as all the expenses incurred on the radio till then, and the strain was beginning to show, hence the need for alternative sources of funding, some of which often came from Senator Bola Ahmed Tinubu.” On page 262 of his book, Frank Kokori: The Struggle For June 12, the author, now late, submits: "What I told Pa Enahoro in America has today come to pass. Revolutionaries must have a base. We don't just boycott and boycott the political process. If Tinubu does not reign (as governor) in Lagos today, we would not have been able to give Pa Enahoro this kind of rousing welcome.…" Democracy lovers should not continue to be armchair critics. Just like Tinubu, they should be prepared to abandon their comfort zone in the corporate world and get involved in politics. Tinubu’s involvement as Lagos governor changed the story of the megacity through innovative security architecture, transportation, judicial reforms and friendly business environment, which led to massive leap in the Internally Generated Revenue of the state and better life for its citizens. Successive governors of Lagos have continued to build on the strong foundation laid by Tinubu. And today, Lagos remains a good example of progressive governance and development. It is not surprising that Tinubu played a key role in the recognition of June 12 as Nigeria’s Democracy Day as against May 29 and that MKO Abiola received a deserved recognition as a martyr for democracy. Nigeria must now end the aberration of having the progressives fight for its liberation while the reactionaries emerge to reap the fruits of the struggles. Imagine if the progressives like Tinubu had assumed power at the centre in 1999 following the retreat of the military to the barracks! The reactionaries, who did not labour for the civil rule in Nigeria, cumulatively messed up the country nearly beyond redemption. Tinubu literally inherited a scorched earth of a country, such that he has to start the onerous task of rebuilding from the scratch. But for his tough policy choices, Nigeria would have ended as Venezuela. There is no magic wand to turn a scorched earth into an overnight Riviera. However, the process of rebuilding has been begun in earnest and going at pace. With patience and cooperation of compatriots, Nigeria will reclaim its lost glory.

•Money, a social enterprise development consultant, writes from Ughelli, Delta State

TOPE FASORANTI argues that the CBN recent directive on temporary suspension of dividend payments and bonuses is aimed at stabilising the Nigerian banking sector

CBN'S MEASURED INTERVENTION

The Central Bank of Nigeria (CBN) has again demonstrated its commitment to maintaining a resilient and stable banking sector. On June 13, 2025, the apex bank issued a directive temporarily suspending dividend payments, bonuses, and foreign subsidiary investments for banks operating under regulatory forbearance. This measured intervention reflects the regulator's proactive stance in safeguarding Nigeria's financial system during a critical transitional period.

The directive addresses banks currently benefiting from credit or Single Obligor Limit (SOL) forbearance arrangements. The threepronged approach is straightforward and targeted: suspend shareholder dividends, defer executive bonuses, and halt foreign subsidiary investments until capital adequacy and provisioning levels achieve full compliance with prevailing standards.

This supervisory action deserves commendation for its strategic timing and precision. As Nigeria's banking sector continues to navigate complex economic conditions, including foreign exchange volatility and evolving credit landscapes, the CBN's emphasis on capital retention demonstrates forward-thinking leadership. The measures ensure that financial institutions maintain adequate buffers to absorb potential shocks whilst supporting the broader economy's recovery trajectory.

Review (CCAR) programme, introduced post-crisis, similarly restricts capital distributions for banks that fail stress tests. By acting preemptively to strengthen capital positions, the CBN is addressing vulnerabilities before they crystallise into systemic risks, following the playbook established by leading international regulators.

For affected banks, compliance with these measures represents an opportunity to rebuild balance sheet strength whilst maintaining stakeholder confidence. The temporary nature of the restrictions means that institutions demonstrating robust capital management and risk controls can expect a return to normal dividend and investment policies once regulatory requirements are fully satisfied.

The temporary nature of these restrictions is particularly noteworthy. Rather than imposing permanent constraints, the CBN has established clear exit criteria tied to regulatory compliance and capital restoration. This approach balances prudential oversight with the banking sector's long-term growth aspirations, acknowledging that healthy banks are essential for sustainable economic development.

From a macroeconomic perspective, these measures align with broader policy coordination efforts that have characterised Nigeria's recent economic management. Just as the CBN's earlier disclosure of foreign exchange reserves boosted market confidence, this latest intervention signals institutional maturity and regulatory sophistication. The emphasis on internal capital retention during this transitional period mirrors best practices adopted by central banks globally during periods of financial system recalibration.

Similar measures have been implemented across different jurisdictions during times of economic stress. The European Central Bank restricted dividend payments for eurozone banks during the COVID-19 pandemic, maintaining these restrictions until capital positions were deemed sufficiently robust.

The Bank of England imposed comparable limitations on UK banks in 2020, suspending dividends and variable remuneration to preserve capital buffers. In Asia, the Monetary Authority of Singapore directed banks to exercise prudence in dividend distributions during periods of heightened uncertainty, whilst the Reserve Bank of India has historically used similar tools to strengthen banking sector resilience during economic transitions.

The directive also reflects lessons learned from previous banking sector challenges and international experience. The 2008 global financial crisis highlighted the importance of maintaining adequate capital buffers, leading regulators worldwide to adopt more stringent oversight frameworks. The Federal Reserve's Comprehensive Capital Analysis and

Market participants should view these measures as evidence of regulatory vigilance rather than sector weakness. International experience shows that early intervention measures often prevent more severe disruptions and support long-term financial stability. The success of such approaches is welldocumented: European banks that complied with ECB dividend restrictions during the pandemic emerged with stronger capital positions, whilst the Federal Reserve's stress testing regime has contributed to the resilience of the US banking system. The CBN's willingness to take decisive action reinforces Nigeria's commitment to maintaining international banking standards and regulatory best practices.

The broader implications extend beyond individual institutions to encompass systemic stability. By ensuring that banks maintain adequate capital buffers, the CBN is supporting the sector's capacity to continue financing economic activity whilst managing emerging risks. This approach protects depositors, maintains market confidence, and preserves the banking sector's critical role in Nigeria's economic transformation.

Looking ahead, the success of these measures will depend on effective implementation and clear communication with stakeholders. The CBN's track record suggests that affected banks will receive appropriate guidance and support throughout the compliance period. Regular monitoring and transparent progress reporting will be essential to maintaining market confidence and ensuring the orderly restoration of normal operations.

The temporary suspension of dividends, bonuses, and foreign investments represents prudent banking supervision at its finest. Rather than constraining growth, these measures create conditions for sustainable expansion built on solid foundations. The CBN deserves recognition for prioritising long-term stability over short-term considerations and for maintaining Nigeria's reputation as a jurisdiction committed to sound financial sector governance.

As Nigeria continues its journey towards greater economic stability and international competitiveness, measures like these demonstrate that the country's financial infrastructure is managed by capable hands committed to excellence.

•Dr Fasoranti is an Economist, Banker, and Consultant on Digital Transformation

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

HELPING SMALL BUSINESSES TO GROW

The small and medium scale enterprises deserve adequate attention

In recognition of the fact that the Micro, Small and Medium Scale Enterprises (MSMEs) sector constitutes the spine of any country’s economy, the United Nations designated last Friday (June 27) as the International MSME Day. With the theme, ‘Business for MSMEs – Connecting the Entrepreneurs’, the 2025 International MSME Day was dedicated to raising awareness about the vital contributions of micro, small, and medium-sized enterprises to sustainable development and the global economy. That there was no such awareness about the event in Nigeria reflects official disposition to small businesses.

Meanwhile, MSMEs account for 90 per cent of businesses, 60 to 70 per cent of employment and 50 per cent of the Gross Domestic Product (GDP) worldwide, according to the World Bank. In Nigeria, the Small and Medium Enterprises Development of Nigeria (SMEDAN) reports that MSMEs currently represent 96 per cent of the businesses in the country and contribute 75 per cent of the national employment. Unfortunately, this is a sector that has been neglected despite all the rhetoric by the government at all levels. Besides the fact that they account for a significant percentage of businesses in Nigeria, they can help to address the challenge of insecurity if properly harnessed.

than five per cent of the MSME in Nigeria can access any form of funding from financial institutions. Not only are the conventional banks not cut out for long term lending needed by MSMEs, but these banks are also more comfortable lending to short-term business ventures as against start-ups that would require longer gestation period to pay back.

Far too many government agencies impose undue levies on them thus making it increasingly difficult to do business in Nigeria

T H I S D AY

EDITOR SHAKA MOMODU

DEPUTY EDITOR WALE OLALEYE

MANAGING DIRECTOR ENIOLA BELLO

DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU

CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI

Indeed, a country with over 37 million small businesses should not by any means ignore or look down on the almost limitless potential for inclusive and sustainable economic growth that could be harvested from MSMEs. While the new tax laws by President Bola Tinubu make exclusive provisions for small businesses, access to credit remains an issue. Across the world, micro-lending carries the image of social investment, classified as a development issue in the mould of education, health, and related policies. The scheme provides financial services to MSMEs in trade, tailoring, carpentry, fishing, and transportation, etc.

Unfortunately, according to most estimates, fewer

EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE

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GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, EMMANUEL EFENI

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Letters to the Editor

Earlier in the year, the federal government established a council headed by Vice President Kashim Shettima to work in collaboration with other stakeholders to ensure growth in the MSMEs space in the country. But the Shettima council should learn from the past. In 2005, the Central Bank of Nigeria (CBN) came up with a regulatory and supervisory framework for the establishment of microfinance banks (MFBs) as a means of providing access to financial services to the unbanked population. The MFBs are allowed to solicit deposits, which are guaranteed by the Nigeria Deposit Insurance Corporation (NDIC). That the whole idea failed is one area the recently constituted National Council on MSMEs should be looking at in its efforts to interface with the CBN to enhance the financing of small businesses in the country.

The impediments against the growth of MSMEs in Nigeria are very clear. One, far too many government agencies impose undue levies on them thus making it increasingly difficult to do business in Nigeria. Two, the capital base of micro finance institutions is too meagre to mobilise domestic savings and promote banking culture among low-income groups. Three, microfinance banks are competing with online banks which do not have to set up elaborate structures such as offices and related structures. Four, many of the MFBs resort to using criminal and unorthodox methods, including deploying the services of thugs to compel their borrowers to pay.

With the latest report by the World Bank that extreme poverty is growing faster and taking a devastating toll on Nigerians, this is the time to help small businesses to grow.

Letters in response to specific publications in THISDAY should be brief (150-300 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (750- 1000 words). They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer.

PERVASIVE INSECURITY IN BENUE STATE

The attack in Benue State's Yelewata community, which claimed over 200 lives, has triggered outrage globally, including the Catholic Pontiff, Pope Leo XIV, denouncing the gruesome killings in the midst of governments abdication of its constitutional responsibility to protect life and properties of law abiding citizens.

Governor Hyacinth Alia's response, or lack thereof, has drawn even sharper criticism. The most troubling scenario is that as a Catholic priest turned-politician, and who was once seen as a beacon of hope for Benue State and the country has become miserably a disaster for his people.

The governor’s sacking of his top aides who participated in the protest against the killings of Benue people and his refusal to take decisive actions and his regrettable silence on the recent killings has been deafening. Unlike his vocal prayers and sermons, his political leadership has failed to provide solace to the grieving families and com-

munities in Benue State.

The governor is being accused of complicity in the violence, citing his failure to condemn the attacks or take decisive action while his people are slaughtered on a daily basis. His administration's response has been characterized as inadequate, with some questioning his commitment to protecting the people, as guaranteed by the nation's law book. His being economical with the number of victims who lost their lives is indeed appalling.

These spine-chilling scenario takes us to President Tinubu's administration which dehumanizes the nation's citizens. After four days of the pogrom the President eventually visited Benue State on the 18th day of June, 2025.

To Tinubu's admirers, this may be seen as a welcome development, but it remains to be seen whether it will translate into any meaningful action. The President's response to the crisis will be

closely watched, with many hoping for concrete measures to address the security challenges.

The people of Benue State deserve better. Governor Alia and President Tinubu must prioritize their safety and security, taking decisive action to address the root causes of the conflict. The silence and inaction must end, and the killings must stop.

The genocide in Benue State is a stark reminder of the security challenges facing Nigeria. Governor Alia and President Tinubu and the nation's security architecture must rise to the occasion, prioritizing the people and taking concrete steps to address the horrendous insecurity across the country. Anything less would be a betrayal of the trust placed in them.

The world is watching and waiting to see the benefits of Mr. President's visit to an area that has now been termed the valley of blood in Nigeria. •Erasmus Ikhide, ikhideluckyerasmus@gmail.com

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Same Nigeria, Different Struggles: Why Cost of Living Differs Across States

For millions of Nigerian families, the simple act of cooking a meal has become a source of anxiety. In April 2025, the cost of refilling a standard 12.5kg cylinder of cooking gas climbed to over N22,000 in several states, placing an unbearable burden on household budgets already stretched thin by economic uncertainty.

Just a month later, data showed that other states, often less economically prominent, were recording some of the country’s lowest inflation rates, with food and fuel prices significantly more affordable.

This contrast in affordability between regions reveals a narrative that the uneven cost of living in Nigeria is no longer just a statistic but a reflection of how geography, governance, and policy decisions shape the quality of everyday life.

In some states, it costs more to cook dinner than to feed a family for a week, in others. While residents of Imo, Delta, and Rivers states grapple with soaring LPG prices, their counterparts in Katsina, Adamawa, and Sokoto enjoy relative economic calm.

Why does the price of cooking gas feel like a luxury in states closest to the oilfields, while food remains affordable in regions once dismissed as economically fragile? The answer lies not only in market forces but also in the decisions made—or not made—by those in power.

LPG PRICES SURGE WHILE LOCAL POLICIES STRUGGLE TO KEEP UP

According to data garnered from the National Bureau of Statistics (NBS), the national average cost of refilling a 12.5kg cylinder of LPG rose sharply from N18,456 in March 2025 to N20,268 in April, representing a 9.8% month-on-month increase and a 29.6% jump compared to April 2024. Yet, this surge did not affect all states equally.

Imo State recorded the highest average LPG price at N22,938. Despite this, the state government only recently began working with ANOH Gas Processing Company to address the issue after months of public pressure. In Delta and Rivers, residents also paid steep prices, N22,831 and N22,759, respectively. While enforcement agencies in Delta shut down illegal gas outlets to improve safety, affordability remains elusive for ordinary families.

Further south, Akwa Ibom and Bayelsa have also witnessed steep gas price hikes. Despite being in Nigeria’s oil-rich South-South region, both states saw steep hikes in the cost of Liquefied Petroleum Gas (LPG), raising serious questions about governance, regulation, and distribution inefficiencies.

In Akwa Ibom, the average cost of refilling a 12.5kg LPG cylinder increased to N21,639 in April,

a nearly 5% rise from March. Compared to the same period in 2024, the price rose by almost 29%, placing further strain on households already grappling with rising food and transport costs.

Bayelsa State, similarly endowed with vast oil and gas resources, fared no better. The average retail price of LPG stood at N21,476 in April 2025, representing an increase of more than 10% from the previous month.

In the northern regions, Kano and Taraba states also faced price hikes, with LPG averaging around N21,800 in Kano and over N22,000 in Taraba. Though Kano’s House of Assembly introduced legislation to regulate gas sales within residential areas, actual consumer prices continue to rise. Taraba, on the other hand, has seen little to no meaningful intervention from its state government, leaving households to bear the cost burden on their own.

From Ebonyi to Anambra and Enugu, high gas prices have persisted. In Ebonyi, prices in April 2025 averaged N22,168 for a 12.5kg cylinder, a sharp rise from N19,870 the previous month. In neighbouring Anambra, prices rose even more aggressively, from N18,281 in March to N20,995 in April.

Enugu, too, recorded a significant yearon-year jump, up nearly 49% from April 2024, with LPG now averaging N20,991.

A DIFFERENT REALITY: STATES WHERE COST OF LIVING IS FALLING

While residents in parts of southern Nigeria are battling rising energy costs and erratic price regulation, the narrative is different in other corners of the country, one led by falling inflation, lower food prices, and local policies that are delivering real relief.

In May 2025, the National Bureau of Statistics (NBS) reported a second consecutive drop in Nigeria’s headline inflation, down to 22.97% from 23.71% in April. But more striking was the dramatic fall in food inflation. It plummeted to 21.14% yearon-year, down from a staggering 40.66% recorded in May 2024. Nowhere is this transformation more evident than in Katsina State, which recorded the lowest inflation rate in Nigeria in May at 16.2%. Even more remarkably, the state’s food inflation was just 6.9%, the lowest in the country.

In Adamawa, the story follows a similar arc. Inflation fell to 18.2%, and although food inflation climbed slightly to 13.0% in May (from 9.5% in April), overall consumer prices remained manageable. Governor Ahmadu

Fintiri took a proactive stance in March, unveiling a $525,000 World Bank-backed agricultural project to support local farmers, enhance climate resilience, and stabilise food prices.

Sokoto State also made impressive gains, maintaining an inflation rate of 18.5% in May, despite food inflation still sitting high at 27.6%.

In the troubled North-East, Yobe State defied regional trends. With a headline inflation rate of 18.6% and food inflation at 22.9%, it still outperformed several better-resourced states.

In Ondo, inflation stood at 18.9% in May, down from 13.4% in April. More critically, food inflation dropped from 20.6% in April to 14.5% in May. Even in Lagos, where high population density often drives up costs, meaningful intervention is showing results. The state’s headline inflation dipped to 20.2% in May, and food inflation dropped to 15.1%.

Meanwhile, Ekiti State also posted a headline inflation rate of 19.6%, a significant drop from 34% in April. Food inflation fell to 23.8%, thanks in part to strategic agricultural investments and intervention by the National Agricultural Extension and Research Liaison Services (NAERLS).

Elsewhere, Gombe State experienced a decline in inflation to 19.1%, with food inflation at 18.0%. Inuwa Yahaya, the State governor’s administration, has invested over N50 billion in a massive canalisation project that will draw water from River Gongola to the Wawa-Zange Grazing Reserve, benefiting over 1 million pastoralists and another 5 million people indirectly.

And in a surprising twist, Rivers State, despite being among the most expensive LPG markets, recorded headline inflation of 19.6% and food inflation as low as 9.2% in May.

WHY DIVIDE EXISTS: ROLE OF POLICY, GEOGRAPHY, AND INFRASTRUCTURE

A closer look reveals that states doing well, whether in terms of LPG affordability or food costs, share common characteristics such as responsive leadership, smart investment in agriculture, and a focus on local supply chains. These governments actively support food production, subsidise transport or farm inputs, and attract private-sector collaboration.

In contrast, states with high cooking gas prices tend to struggle with weak enforcement, poor investment in energy infrastructure, and inadequate relief

policies. Some of them rely heavily on private LPG marketers without providing state-level support for storage, transport, or price regulation.

Geography also plays a role. States in the North with vast farmland and lower population densities often benefit from shorter supply chains and lower logistics costs. In contrast, some southern states, despite being close to oil production facilities, suffer from high distribution costs and weak internal transport systems that drive up prices.

Moreover, regulatory challenges abound. Several governors have criticised the Petroleum Industry Act (PIA) for sidelining state governments. In Bayelsa, for instance, Governor Douye Diri blamed the act for offering “liabilities, not responsibilities” to sub-national authorities. Without clear mandates, even willing state governments face legal bottlenecks in intervening in energy markets.

HOW NIGERIANS ARE COPING WITH THE INEQUALITY

For residents in high-cost states like Imo and Rivers, each meal cooked with gas comes at a steep price. As a result, charcoal and firewood are making an unfortunate comeback, bringing health and environmental risks along with them.

In Kano, some families have abandoned gas entirely, resorting to more rudimentary methods of cooking. Residents often lament that cooking gas, once a cleaner, safer energy choice, has become a luxury item. Meanwhile, in Katsina and Sokoto, farmers report improved harvests and lower costs at markets.

BUILDING A MORE BALANCED FUTURE

Nigeria’s current economic map tells two different stories. One is about missed opportunities, where lack of policy, regulatory gaps, and weak infrastructure continue to hurt millions. The other is about what is possible when leadership meets planning. States that subsidise key sectors and invest in food production, transport, and LPG supply chains are seeing better results. Where these interventions are lacking, prices soar, and hardship deepens.

Bridging this divide will require more than market forces. States need coordinated policy backed by federal support to overhaul LPG infrastructure, regulate distribution, and offer relief to vulnerable families. Food inflation must be addressed with more than just announcements; it requires consistent input support, investment in logistics, and transparent market practices.

Kayode Tokede

Following the increasing level of threat in the business environment in Nigeria, arising from: insecurity, supply chain problems, rising inflation and poor purchasing power, low level of productivity, that has hindered banks from lending, the banks’ deposits with the Central Bank of Nigeria (CBN) skyrocketed by 730 per cent year-on-year (YoY) to N67.72 trillion in the first half (H1) 2025, up from N8.15 trillion recorded in the same period of 2024 (H1 2024).

The significant increase in banks and merchant banks deposit with CBN underscores the growing excess liquidity within the banking sector.

Banks place their excess funds with the CBN through the Standing Deposit Facility (SDF), which offers

an interest rate of Monetary Policy Rate (MPR) minus 100 basis points. With the MPR currently at 27.5per cent, the SDF yields a return of 26.5 per cent.

The CBN also offers two key windows for short-term funding; the Standing Lending Facility (SLF) and Repurchase Agreements (Repos).

Through the SLF, the apex bank lends money to commercial banks at an interest rate set at 500 basis points above the MPR. Under the Repo arrangement, the CBN temporarily purchases securities from banks with an agreement to sell them back later at a higher price.

A breakdown of the trend showed that bank deposits with the CBN stood at N19.22 trillion in first quarter (Q1) 2025, representing a 956 per cent increase from N1.82

trillion in Q1 2024.

In April 2025 alone, SDF deposits surged by a staggering 3,793 per cent YoY to N16.75 trillion, compared to N428.98 billion in April 2024.

The upward momentum continued in May 2025, when deposits reached N17.55 trillion, marking a 1,761 per cent increase from N943.1 billion in the same month last year.

In addition, banks deposit with CBN closed June 27, 2025 at N14.2 trillion, about 186.06 per cent growth frrom N4.96trillion reported by CBN in June 2024.

Analysts have attributed the significant increase in deposit with CBN by banks to growing reluctance to lend to the real economy. This caution stems from rising non-performing loan (NPL)

risks, insecurity and supply chain disruptions, persistent inflation and currency instability, declining consumer purchasing power. Instead of pushing credit into volatile sectors, banks are opting for safe returns on overnight deposits with the CBN.

The interest rate at which these banks borrow from CBN has not changed in 2025 amid the MPC maintaining the status quo on MPR or interest rate.

In 2024, the MPC members voted to increase interest rate from 18.75 per cent to 27.50 per cent amid its mandate to tackle inflation rate and unstable Naira at the foreign exchange market. However, the MPR has remained at 27.50 per cent since the beginning of 2025 as the committee continued to

tackle inflation rate.

In 2024, the CBN shifted to a single-tier remuneration structure for the SDF. Previously, deposits up to a certain threshold, for example N3 billion, earned a higher interest rate, while amounts exceeding that threshold earned a lower rate.

In 2024, banks deposit to CBN increased significantly to N38.12 trillion, about 210.15 per cent increase when compared to N12.29 trillion in 2023.

SDF in 2024 witnessed significant patronage as banks and merchant banks deposit reached highest peak of about N8.12 trillion in August 2024

The increase is coming on the backdrop of CBN removal of the cap on the remunerable policy, among others.

The CBN governor, Mr. Olayemi

Cardoso had disclosed that the apex bank removed the cap on the remunerable SDF to increase activity in the SDF window and manage liquidity.

In a circular addressed to DMBs, CBN said the SDF will now be 26.5 per cent. This represents a sharp increase from the previous 19 per cent. The policy change was communicated through a circular issued by the Director of the Financial Markets Department, CBN, Omolara Duke. The circular instructed all authorised financial institutions to acknowledge and implement the updated structure, which supersedes the previous framework.

The equities market section of the Nigerian Exchange Limited (NGX) recorded a significant increase in investments, with a gain of N13.2 trillion in the first half (H1) 2025. This growth reflects investor confidence and a positive market trend. The market capitalisation gained N13.2 trillion from N62.763 trillion at the beginning of the year to close at N75.962 trillion at the end of June 27, 2025. Similarly, the Nigerian Exchange Limited All-Share Index (NGX ASI) rose by 16.58 per cent from 102,926.40 basis points on December 31, 2024 to 119,995.76 basis points on June 27, 2025. The market’s strong performance

is attributed to a combination of positive investor responses to mixed corporate earnings and ongoing federal government reforms.

From a sectoral standpoint as at June 27, 2025, performance was predominantly bullish. The NGX Consumer Goods index emerged as the best-performing sector by 51.02 per cent in H1. NGX Pension index achieved a growth of 28.95 per cent, while NGX Premium index rose by 19.54 per cent in H1.

NGX Banking, NGX 30, NGX Insurance and NGX Industrial Goods posted a growth of 19.36 per cent, 16.22 per cent, 4.50 per cent and 2.27 per cent respectively in H1. On the other hand, the NGX Oil and Gas index registered a

decline by 9.86 per cent.

Commenting on the market performance, the CEO, Sofunix Investment and Communications, Mr. Sola Oni said the Nigerian stock market performance is influenced by company results, demand and supply, and market sentiment.

He said, “Recently, several listed companies have reported strong earnings and announced bonus shares, contributing to relative economic stability. Despite this, many blue-chip stocks on the NGX remain undervalued compared to their intrinsic worth.

“Foreign portfolio investors often capitalize on these opportunities, driving up the All-Share Index and market capitalization. However, they can also swiftly withdraw their

investments in response to policy inconsistencies.”

Oni, who is also a Chartered Stockbroker added, “The market’s forward-looking nature means investors focus on companies’ future prospects rather than current performance. Fortunately, the market has a self-correcting mechanism that adjusts stock prices to their true value over time.

“A recent example of the market’s responsiveness to public information was the impact of the Central Bank of Nigeria’s (CBN) circular on banks’ forbearances, Single Obligor Limit (SOL), suspension of dividend payment and bonus shares to management staff till 2028 and halt to investment in foreign companies.

“Initially, the market reacted

negatively by dumping banks’ shares. But a subsequent clarification halted the decline and reversed losses. This highlights the importance of clear communication and consistent policy implementation in maintaining market stability.”

Speaking on expectations for the market in H2, analysts at United Capital Plc said: “The equities market might continue in its upward trend leading to a slight gain in the ASI. This is hinged on the market benefiting from the excess liquidity in the financial system. Similarly, investors might start positioning for Q2-earning season, favoring corporates with FX gains, cost control, clear growth trajectory, and those with potentials for quality interim dividend payment.” They added, “On the flip side,

a potential OMO auction might reduce the inflow of funds into the equities market as elevated yields keep investors anchored to the fixed income market instruments. Similarly, positive sentiments will be moderated

We

We advise investors to cherry pick fundamentally sound

Kayode Tokede

As Wema Bank One-day MD/CEO Initiative Receives Global Commendation

From a dream pitched in a short video to sitting in the highest office of one of Nigeria’s most innovative banks, Chiderije Mbah’s journey as One-Day MD/CEO is more than a feel-good story; it is a symbol of what happens when institutions invest in the future, today. sunday Ehigiator writes

In a world where longevity influences success and sustainability steers the course of the future, it becomes imperative that the leaders of today empower the leaders of tomorrow. Today’s children become tomorrow’s leaders, and the legacies we build today will only thrive if we empower the children to carry on the torch. Such is the vision that has fueled Wema Bank’s drive for nurturing the youth since 1945, empowering them with the resources they need to build the right future and providing guidance for them as they journey towards adulthood. From creating the Royal Kiddies Account for children ages 0-12 to launching the ALAT Xplore App for teenagers ages 13-17, and its various youth-focused initiatives, Wema Bank has been intentional in empowering young Nigerians to thrive. One of the most thoughtful of such initiatives pioneered by Wema Bank, is the Wema Bank One-Day MD/CEO initiative, launched as a “Children’s Special” in line with the Bank’s 80th anniversary celebration.

Commemorating the 2025 global celebration of Children’s Day, Wema Bank, on 22nd May 2025, launched the One-Day Wema Bank MD/CEO initiative, a special campaign curated by the Bank to celebrate children as the leaders of tomorrow. This campaign, a first-of-its-kind in the Nigerian banking industry, provided an exclusive opportunity for a child to become the Managing Director/CEO of Nigeria’s oldest indigenous bank, Wema Bank, just for May 27, 2025.

FIRst-OF-Its-kInD

The One-Day Wema Bank MD/CEO initiative, a first-of-its-kind in the Nigerian banking industry, called on Nigerian children to showcase their potential for leadership and career success in the banking industry, by uploading video submissions where they share their ideal role in the bank and why they deserve to win. The children rose eagerly to the occasion, donning Wema Bank’s brand colours with pride and captivating viewers with heartwarming presentations that were nothing short of inspiring. Dozens of entries later, the numbers spoke. 12-year-old Chiderije Mbah emerged winner, receiving outstanding commendations for his embodiment of the role of MD/CEO. Thus began the journey to his exclusive experience as Wema Bank’s one-day MD/CEO.

older. Today has shown me that the sky is just the starting point for every child, and I am excited to spread the word to other children. I look forward to learning from you, the experts, and getting more insights into what it means to be a leader, especially for an organisation like Wema Bank, that has stood strong for 80 years. Thank you again for giving me your time and trusting me with this important responsibility. I will make Wema Bank proud!”

Chiderije’s first act as MD/CEO was to announce four new special rewards aimed at empowering Nigeria’s youth and in his words, “help more children and teenagers save, learn, and grow their dreams through Wema Bank”. The exciting rewards for children and teenagers include free ALAT Xplore Personalized Debit Cards for all teenagers between May 27 to June 30, 2025, N2,000 cashback for every new Royal Kiddies Account (ages 0–12) opened from May 27 to June 30, an extra 1% interest rate on all balances in existing and new Royal Kiddies and ALAT Xplore accounts between May 27 to June 30, and free 1GB of data for teens who register on the ALAT Xplore app from May 27 to June 30.

As Children’s Day came to an end, a sense of pride and fulfillment filled the hearts of thousands; from the Mbah family whose 12-year-old son got to sit at the helm of Wema Bank’s affairs for a day to other parents across the world who saw the possibilities their children could achieve with dedication, the children inspired to dream beyond limits and among others, the Bank that believed in the potential of a 12-year-old to lead an 80-year-old institution. The tales of Wema Bank’s one-day MD/ CEO initiative reverberated for days into weeks, as Chijeride’s story was beautifully transformed, forever. Life would go on, but his experience as Wema Bank’s one-day MD/CEO would remain permanently etched in his mind and journey.

REtuRnInG tO sChOOl

Chiderije Mbah, the bright 12-year-old who won hearts nationwide as Wema Bank’s One-Day Managing Director/CEO, returned to school on Monday, June 16, 2025, to a grand welcome brimming with smiles and applauses from students and teachers alike. The JSS 3 student aiming for School Head Boy had lived the dream of many at the tender age of 12, reminding everyone that true leadership begins from childhood. Given the honour of addressing the school, Chiderije shared insights from his experience as Wema Bank’s one-day MD/CEO, beaming with smiles as he recounted the events of the day and the lessons learnt.

According to Mr. Oseni, “As a Bank, our mission is to empower lives through innovation, and this is a mission we are committed to seeing

As the world commemorated Children’s Day on May 27, Chiderije looked forward to one of the greatest responsibilities a 12-year-old could ever envisage, being the MD/CEO of an 80-year-old bank—for a day. As the rains mimicked the proverbial “showers of blessings”. Chiderije began his stint as Wema Bank’s one-day MD/CEO. From his grand reception at the Wema Bank Head Office Facility in Lagos to one-on-one meetings with top executives of the Bank, Nigerians across the world applauded in awe as Wema Bank set an unrivalled precedence by walking the talk in empowering children to be the leaders of tomorrow. Chiderije’s bold debut was followed by a deeply symbolic moment: the official handover of the MD/ CEO insignia from Wema Bank’s substantive Managing Director and CEO, Mr. Moruf Oseni, who commended the young leader’s courage and foresight. In a surprise move that left everyone in awe, Mr. Oseni gave out his one-day salary for May 27 to the 1-day Wema Bank MD/CEO, Chiderije Mbah, encouraging him to keep up the great work and work hard towards truly becoming an MD/CEO in the near future. Mr. Moruf Oseni further shed light on the Bank’s motivation for annually commemorating Children’s Day in such a grand and intentional manner.

“As Children’s Day came to an end, a sense of pride and fulfillment filled the hearts of thousands; from the Mbah family whose 12-yearold son got to sit at the helm of Wema Bank’s affairs for a day to other parents across the world who saw the possibilities their children could achieve with dedication, the children inspired to dream beyond limits and among others, the Bank that believed in the potential of a 12-year-old to lead an 80-year-old institution. the tales of Wema Bank’s one-day MD/CEO initiative reverberated for days into weeks, as Chijeride’s story was beautifully transformed, forever. life would go on, but his experience as Wema Bank’s one-day MD/CEO would remain permanently etched in his mind and journey.”

through from cradle to grave, as encapsulated in our creed, ‘With You, All The Way’. This is why Children’s Day is so important to us. Every great man, woman or even institution, was once a child, so to forge the leaders of tomorrow, we need to begin today. Today, we are reminded of the theme of our 80th anniversary celebration, ’80 years of impact, a future of possibilities’. Our impact over the past 80 years has been indelible, but now we look ahead to a future of possibilities, and what is a future of possibilities without the children? 8 decades from now, it is these children that will carry on the legacy we have built today. This is why this initiative is so important”.

“We can all agree that Wema Bank has been walking the talk over the past 8 decades, thinking out of the box, and creating innovative ways to empower children for the right future. But today, in commemoration of Children’s Day 2025, we are taking things a step further and giving the leaders of tomorrow a platform to lead today. As Chiderije will be carrying out my duties for today, it is only right that he earns my one-day salary today. The Wema way is ‘work hard, reward hard’, and as MD/CEO for today, Chiderije will experience it first-hand. It is our hope that this will inspire not just him, but every other child to put in the good work and make us proud. Happy Children’s Day, from Wema Bank”, Oseni concluded.

thOuGhtFul GEstuRE

Expressing his profound gratitude for the thoughtful gesture, Chiderije Mbah promised to make Wema Bank proud, adding “Thank you very much Sir, for trusting me with this great opportunity, and for always looking out for the children. I am proud to be a part of the Wema Bank family, the bank that not only supports our parents in raising us the right way but also empowers us with the tools and guidance that we need to become financially smart as we grow

“Being the One-Day MD/CEO of Wema Bank has changed how I see the future. It has taught me responsibility and the value of big dreams. I met lots of important people, learnt how much work goes into running an organisation as powerful as Wema Bank, and I saw how dedicated the people were to making the dream work and how delicate the role of leadership is. Coming back to school now makes me want to study even harder so I can do more amazing things in life and hopefully become MD/CEO, not just for one day but for many more years”, Chiderije said.

The School’s Principal, Mr. Irhiemi Emmanuel, highlighted how Chiderije’s feat has inspired the entire school, proving that with the right values, children can achieve anything.

“Our school is proud to have one of our own show such maturity and excellence at a young age. We hope his story reminds every child here that leadership is possible when you combine discipline and ambition”, Mr. Emmanuel said.

As classmates openly admired and commended Chiderije’s confidence, his class teacher, Mr. Akinkunmi Akinniyi, added, “Chiderije has always been brilliant and curious, but it’s obvious that this experience has given him new confidence. He’s always been outspoken and driven and I hope this experience makes him even more determined to focus on his studies so that one day he can truly be an MD/CEO. I believe he can do it”.

The One-Day MD/CEO initiative is part of Wema Bank’s broader suite of youth-focused solutions which include the Royal Kiddies Account for children aged 0–12 and the ALAT Xplore App for teenagers aged 13–17; both of which help parents instill smart financial habits in their children from an early age while empowering young users with tools for saving, budgeting, and learning.

Chiderije’s journey is a beautiful reminder that the future belongs to those who believe in it early and Wema Bank remains committed to walking that journey alongside every young Nigerian. Founded in 1945 and currently celebrating 80 years of impact, Wema Bank has consistently demonstrated its people-first values by engaging with Nigerians at every life stage. The Wema at 80 Children’s Day Special has drawn widespread praise for its authenticity, creativity, and commitment to building future leaders—not just in words, but in action.

As the renewed drive to enhance insurance penetration in Nigeria begin to yield results, operators have applauded the sector’s performance in 20224 as they generated annual premium income of N1.562 trillion, an increase of 56 per cent when compared with N1.03 trillion generated in 2023.

Penultimate week, the sector operators had predicted that the total premium income of the present year 2025 would hit N2 trillion.

The Chairman, Nigeria Insurers

Emma Okonji

Founder/Chief Executive Officer of Chauntelles Home Ideas, Dr. Omeba Ejiogu, has called on the federal government to offer grants or tax incentives to the design-led business to enable it invest in the creative hubs and innovation centres.

According to her, the initiative will help the interior design industry to continue to contribute to the growth of the Nigerian economy and remain a key contributor to the creative economy.

Ejiogu made the call during the 2025 World Interiors Day, themed: ‘Designing with Emotion, Building with Intelligence’, which held in Ikoyi, Lagos, recently.

Ejiogu who is also Assistant Secretary General of Interior Designers Association of Nigeria (IDAN), said: “The government

Association (NIA), Mr Kundera Ahmed, who stated this at the 54th Annual General Meeting (AGM) of the association held in Lagos said the sector achieved this despite the unique set of challenges and opportunities , inflationary pressure, foreign exchange fluctuation and evolving regulatory frameworks which tested the industry’s agility during the year.

He said through strategic innovations and collaboration, operators have remained steadfast in driving sustainable growth and market expansion.

According to Ahmed, out of the N1.562 trillion billion premium, Non-life business accounted for N1.1 trillion while life businesses generated N470.

“The sector’s assets during the year expanded significantly from N2.67 trillion in 2023 to N3.9 trillion signifying 46.1 percent growth. Market capitalisation also grew substantially from N850

billion in 2023 to N1.2 trillion showing 41 percent growth. Net claims paid by the industry amounted to N622 billion with the non-life segment accounting for N437 billion and life segment for N185 billion,” he informed.

According to him, within the non-life sector, fire, oil and gas insurance lines were key drivers of revenue growth, with all non- life

can play a transformative role by recognising interior design as a key contributor to the creative economy. This can be done by offering grants or tax incentives to design-led businesses, investing in creative hubs and innovation centers, and ensuring local content is prioritised in public infrastructure projects. Establishing policy support for design education and mandating professional engagement in urban and residential developments will also go a long way in strengthening the sector.”

Addressing some of the challenges confronting the sector and how practitioners are navigating them, she said: “The Nigerian interior design industry faces several challenges, including a lack of formal regulatory frameworks, limited access to funding for creative businesses, and the undervaluation of design professionals.”

Stakeholders drawn from the transportation sector and law enforcement agencies have canvassed the need for collaborative approach, increased safety education as well as standardised regulations to address security challenges arising from ride-hailing services in Nigeria.

The stakeholders made the call during the inDrive Safety Education Summit, held in Lagos.

In his welcome address, the Country Representative, inDrive Nigeria, Timothy Oladimeji stated that the summit was conceived with the aim of fashioning out insights that would help the platform to work with other stakeholders with a view to ensuring safety of

both drivers and riders while also bridging users’ education gap about its safety features.

Oladimeji explained that safety remains a collective responsibility which all stakeholders including riders and drivers must take cognisance of.

He disclosed that inDrive has invested heavily in technology to improve its safety features.

Delivering his keynote address, Commissioner for Transportation, Lagos State, Oluwaseun Osiyemi, who was represented by the Director, Public Transport and Commuter Services (PTCS), Adebayo Olusoji, described the gathering as a testament to the collective commitment of stakeholders to creating safer environments for citizens.

products demonstrating strong quarter- on - quarter increases.

He said the life insurance segment also saw substantial growth with group life insurance emerging as the largest premium generator.

He said despite this growth, insurance penetration remained low, with efforts to improve penetration tied to addressing the enforcement of compulsory insurance policies, improvement in claims payment process and the consolidation of the insurance enabling laws.

On the activities of the NIA members during the year under review, Ahmed said they were geared towards the achievement of the goals of the association and four strategic imperatives of his tenure as NIA Chairman.

Queen Mary of Denmark Visits APM Terminals Apapa During Nigeria Tour

Recently, Queen Mary of Denmark visited APM Terminals Apapa as part of her official visit to Nigeria. Accompanied by the Danish Ambassador to Nigeria, Mr. Jens Ole Bach Hansen, Queen Mary was warmly received by APM Terminals Nigeria’s Chief Executive Officer, Frederik Klinke, and Terminal Manager, APM Terminals Apapa, Steen Knudsen. Also in her entourage, was the Danish Minister for Education and Science, Christina Egelund.

Renowned for her advocacy of gender equality, especially

women and girls’ rights, as well as her commitment to sustainable development and environmental conservation, Queen Mary’s first stop at the terminal, was with the terminal’s female equipment operators.

During the tour of the terminal, Steen Knudsen highlighted the terminal’s ongoing efforts to promote gender diversity by encouraging women to pursue careers in traditionally maledominated roles. The tour also included a visit to the terminal’s Equipment Simulation Room,

used for training operators, showcasing the facility’s investment in workforce development. Additionally, Queen Mary engaged with the terminal’s environmental sustainability partners, GIVO Africa and Freee Recycle Limited. She observed with interest how rubber and plastic waste generated by the terminal’s operations are being recycled into valuable products, emphasizing the importance of sustainable practices in industrial operations.

Terminal Manager, Steen Knudsen says, “We are pleased

to have been selected as part of Her Majesty Queen Mary of Denmark’s programme here in Nigeria. Education and particularly initiatives to create more diversity in the workforce and more opportunities for female employees are a central part of our daily work here in our two terminals in Nigeria. We had the opportunity to talk about our special recruitment programs for female truck drivers and mechanics and we also focused on our leadership training and international opportunities for our local leaders.”

The federal government in partnership with Filmhouse Group, has kicked off economic and cultural exchange with Brazil, as the country sent high-powered delegation to Nigeria, as part of the cultural and economic mission aimed at strengthening diplomatic ties between the two nations.

The delegation which visited Filmhouse Cinemas-IMAX Lekki, Lagos recently, comprising senior policymakers and leaders from Brazil’s cultural and entertainment sectors, who engaged with key Nigerian stakeholders to explore opportunities for cooperation in film production, music, and the arts.

The mission familiar with the cultural affinity between Brazil and

the people of South West, Nigeria, placed special emphasis on Yoruba cultural heritage, which shares deep historical and ancestral connections with Brazil in many ways.

“This visit is more than symbolic, it’s a catalyst,” said Kene Okwuosa, Group CEO of Filmhouse Group (Filmhouse Cinemas, FilmOne Entertainment, and FilmOne Studios).

The Skyway Aviation Handling Company (SAHCO) Plc has posted its strong financial performance yet with N28.9 billion as revenue in the 2024 financial year.

The company said it has concluded plans to acquire additional Ground Support Equipment (GSE) to improve and extend its operations to its growing clientele.

These were contained in the 2024 Financial Year Report presented by the board and management of SAHCO at its 15th Annual General Meeting (AGM), held virtually at the weekend.

The report indicated that the N28.9 billion revenue was 74.8 per cent

growth when compared to the 2023 financial year period with 16.5 billion. The performance was also 260.3 per cent increase when compared to the 2022 financial performance, which stood at N11.1 billion.

In the 2024 financial year period, SAHCO also had a total gross profit of N16.3 billion when compared to the 2023 period, which was N8.1 billion and besides, the report revealed that SAHCO earned N6.4 billion as operating profit before income tax expenses.

Speaking at the AGM, Dr. Taiwo Afolabi, the Chairman of SAHCO, noted that the global economy in 2024 experienced modest growth with the International Monetary Fund (IMF) estimating a global

According to him, “Nigeria and Brazil are cultural siblings with shared roots and creative energies.

Gross Domestic Product (GDP) growth rate of 3.2 per cent. Afolabi, however, said that this was driven by the gradual easing of supply chain disruptions and a rebound in consumer demand across major economies and he also said that Nigeria remained one of Africa’s largest aviation markets with rising passenger demand and expanding international routes; but, regretted that operational costs, infrastructure gaps and forex constraints posed major challenges to operators in the Nigerian aviation industry.

Also, the Managing Director, SAHCO, Mrs. Adenike Aboderin, in her speech said that the company had made significant investments in new GSE in the past financial year.

At The Filmhouse Group, we believe storytelling is a bridge - one that can unite nations, spark economic growth, and shift global perceptions. We are committed to building enduring partnerships that elevate African stories and open doors for co-production, distribution, and investments across the Atlantic.”

According to her, these acquisitions are crucial to accommodating the increasing operational demands and ensuring that its services remained safe, efficient and environmentally friendly in 2024. She said that the GSE acquired within the period to include towed passenger steps, belt loaders, pallet dollies, forklifts and cargo tractors, among others. She added: “As we look ahead to 2025, we remain optimistic about the opportunities that lie before us. Our financial projections for the coming year are built on key assumptions that include an expected increase in the domestic handling rate and a pipeline of new business prospects that we anticipate will further drive our growth.”

Emma Okonji

Ebere Nwoji

Chinedu Eze

Chinedu Eze

L–R: Terminal Manager, APM Terminals Apapa, Steen Knudsen; Queen Mary of Denmark; APM Terminals Nigeria Chief Executive Officer, Frederik Klinke and Danish Minister for Higher Education and Science, Christina Egelund when Queen Mary visited APM Terminals Apapa… recently

Adeniji: AVA Securities is Committed to Promotion of Financial Inclusion

The Managing Director of AVA Securities Limited, Mrs. Ifeyinwa Adeniji, recently spoke on how the company is using its securities trading competition for universities to equip next generation of investors and deepen financial inclusion among others. Ayodeji Ake presents the excerpts:

AVA Securities recently concluded the second edition of its Trading Competition. What inspired this initiative?

At AVA Securities, we are passionate about deepening financial literacy and market participation among young Nigerians. The idea was to go beyond traditional education by creating a platform where students could learn by being involved. By giving N5 million to each undergraduate team, we empower them to apply investment concepts in real time—an initiative that mirrors our belief in innovation and inclusivity. We’re proud to say it’s the first of its kind in the country.

What makes the AVA Securities Trading Competition stand out from other financial literacy programmes?

Unlike simulations or theoretical learning programs, the AVA Securities Universities Trading Competition puts N5 million in the hands of each team to trade on our platform. These are real funds, live Nigerian equities markets, and real-time consequences. This level of immersion sets us apart. We do not just teach investment strategy, we let participants experience it. This practical exposure fosters strategic thinking, risk management, and teamwork in a way no classroom can replicate.

How has the response from students and universities been so far?

The responses have been phenomenal. For our second edition, we received applications from different universities across Nigeria. The enthusiasm, creativity, and boldness the students brought to the table exceeded our expectations. Schools like the University of Lagos, the University of Port Harcourt, Obafemi Awolowo University, Covenant University, Babcock, ABU Zaria, and several others had representation, which truly made this a national event. The energy is growing, and we expect even more participation in the third edition

starting in August 2025. How does this competition align with AVA Securities’ broader mission and business goals?

Our mission is to create accessible, innovative investment solutions while promoting financial inclusion. This competition reflects that mission by opening the doors of capital markets to Nigeria’s youth. In the long run, these students become more confident investors, and some may even pursue careers in within the financial market. That is a win not only for them but for our industry and economy.

The competition involves the deployment of actual capital. How do you ensure students handle this responsibility wisely?

Our competition is designed to foster a dynamic learning environment where students can develop

essential skills needed in the real world, including financial analysis, decision making, and teamwork. We provide comprehensive tutorials and clear guidelines to ensure participants understand the rules and expectations. Our focus extends beyond generating returns; we prioritize the learning process and skill development. Notably, we have observed teams transform from cautious beginners to data-driven traders within weeks, with some even emerging as winners. This transformation underscores the effectiveness of our approach in cultivating competent and confident traders.

Can you share any success stories from previous editions?

Absolutely. One notable success story from our previous edition is the team that took first place in Season 1, Team Coral from the University of Port Harcourt. They demonstrated exceptional trading skills, strategic thinking, and teamwork. Their winning strategy involved a combination of technical analysis and market trend identification, which allowed them to consistently outperform other teams. Another team was Team Seekers from Covenant University,they began with modest trades but finished in the top tier through smart sector allocation and disciplined strategy. Several students from our past edition have gone on to secure internships and job opportunities at top financial institutions. The competition has proven to be a launching pad for their careers, providing them with the skills, experience, and networking opportunities needed to succeed in the industry. It’s inspiring.

We are proud to see our participants achieve such success, and we’re excited to see what the future holds for them.

What’s new in the third edition of the competition?

This year, we are introducing a curated stock list from which teams must construct their portfolios. This encourages deeper research and strategy. We have also expanded our content outreach—live trading sessions, and a broader media presence. Applications open this June, and the competition kicks off in August. We’re also building stronger university partnerships to reach even more students.

You’ve mentioned that AVA Securities is the first mover in this space. How important is that positioning to your brand?

Being a first mover is important, but what matters more is what we do with that position. We have created a blueprint that others may follow, but our commitment to depth, transparency, and excellence will keep us ahead. Our clients, partners, and stakeholders know we are not just running a campaign; we are building a movement.

What kind of support or partnerships are you looking for to scale this initiative?

We are open to partnerships with media houses, corporate sponsors, and even regulatory bodies. Our goal is to make this the most respected university student capital market competition in Africa. By aligning with organizations that share our values, we can expand the platform’s reach and impact.

What would you say to a student or university considering joining this competition for the first time?

I would say: This is your moment. You don’t need to have a finance background—just curiosity, discipline, a competitive streak, and the courage to learn. Whether you win or not, the experience you will gain is priceless. You will learn how the financial market works, how to manage risk, and how to work under pressure. And you will walk away with insights most people don’t acquire until much later in their careers.

Adeniji

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 26 June-2025, unless otherwise stated.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

Shareholders Condemn Move to Transfer Unclaimed Dividends to CBN

Kayode Tokede

Shareholders under the aegis of the Independent Shareholders Association of Nigeria (ISAN), have condemned the recent legislation mandating the transfer of unclaimed dividends from companies’ registrars to the Central Bank of Nigeria (CBN) for management.

The group, in a statement signed by its national coordinator, Mr. Moses Igbrude, condemned the National Assembly’s decision to pass the legislation requiring the transfer of all unclaimed dividends from company registrars to accounts managed by the Securities and Exchange Commission (SEC), as opened by the Debt Management Office in the CBN.

ISAN said, this move is a gross violation of shareholders’

rights, a betrayal of investor trust, and a dangerous precedent that threatens the sanctity of private property and capital market integrity.

It called for reform, rather than confiscation, saying efforts should focus on reforming the claims process at the registrar level through technology, public education, and standardization, not through centralization and state seizure.

ISAN, however, urged President Bola Tinubu to withhold assent to this bill, saying, “If already signed, we demand an immediate suspension pending judicial review.”

The shareholder body said it is mobilising legal resources to challenge the law in court, stressing that, the legislation is a violation of ownership rights.

It insisted that, “Unclaimed dividends are not government

revenue. They remain the legal property of individual investors and their heirs, regardless of the time elapse.”

It added that, the attempt to centralise and manage such funds under CBN control is a form of indirect expropriation, besides undermining market confidence in Nigeria’s capital markets at a time when local and international investors need assurance that their returns will be protected, and not confiscated under state pretexts.

The group pointed out that there was lack of broad consultation with stakeholders such as shareholders, registrars, and other capital market players in a public hearing before the bill was passed, as this reflects a disturbing disregard for participatory governance and due process.

TAJBank Sustains Industry Feat, Pays 3rd Dividend In 5 Years

As Total Assets Grow By 84%

TAJBank Limited, Nigeria’s fastest growing non-interest bank, sustained its record-breaking feat in the nation’s banking history with the payment of 20 kobo per share dividend to its shareholders at the end of financial year (FY) 2024, being the third investment reward for the investors in its five years of operations.

Available industry data on dividends paid to shareholders by most banks during the year under review showed that TAJBank’s dividend, based on earnings per share, represented one of the best in terms of dividend ratio to share value of banks nationwide.

The major highlights of the TAJBank’s financial results in FY 2024 showed that the bank’s Total Assets grew from N518.33 billion in 2023 to N953.10 billion in 2024, representing 84% growth

year-on-year; while its Gross earnings also increased to N75.5bn in the year under review from N43.2 billion in 2023, indicating 80% growth.

Similarly, the multiple awardwinning non-interest bank also recorded impressive performance in its deposit base, which surged by 89%, from N369.33 billion in FY2023 to N696.34 billion in FY 2024.

In the year under review, the bank’s gross earnings rose to N467.38 billion from N271.92 billion recorded in 2023 financial year, representing 72% year-onyear on growth just as the profit before tax (PBT) grew by 61% to N18.2 billion from N11.3 billion in the preceding year, among other impressive financial indices.

Commenting on the bank’s FY2024 financial results, par-

ticularly on dividend payment to the shareholders despite the inclement operating environment, TAJBank’s Founder/CEO, Mr. Hamid Joda, said: “With the payment of the third dividend to the shareholders within five years of operations, TAJBank’s Board and management have again demonstrated that investors’ interest remains a priority in their drive to sustain the bank at the forefront of non-interest banking space in Nigeria.

“The sterling performances of TAJBank these past years clearly attest to the management’s proactive strategies and innovativeness in service delivery and I want to assure our investors that their interests will always be prioritized in our operations at all times”, Joda added.

Faleke : Corporate Nigeria is the Backbone of National Development

The Chairman of the House Committee on Finance, National Assembly of Nigeria, James Abiodun Faleke, has emphasised the critical role of a strong corporate sector in driving Nigeria’s economic future.

Speaking at the PEARL Awards 30th Anniversary Corporate Summit, Faleke highlighted the importance of corporate Nigeria in the country’s economic development.

“Corporate Nigeria employs our youth, pays our taxes, funds innovation, drives exports, and supports communities through CSR and social impact invest-

ments,” Faleke said. “In every sense, our companies are the backbone of national development.”

Faleke assured the audience of the National Assembly’s commitment to deepening legislative reforms that promote fiscal sustainability, transparency, and a growthfriendly tax structure.

“We are committed to deepening legislative reforms that promote fiscal sustainability and transparency, a simplified, fair, and growth-friendly tax structure, incentives for

long-term investment, greater ease of doing business, and stronger corporate governance practices through updated regulatory frameworks,” he said.

The PEARL Awards 30th Anniversary Corporate Summit, themed “Built to Last: A Roadmap for Corporate Nigeria,” provides a platform for stakeholders to discuss and shape the future of corporate Nigeria.

Faleke’s underscore the need for institutions to be built to last, with deep roots in governance, culture, innovation, and long-term strategy.

Kwara Winds-down Harmony Holdings Citing Liabilities, Others

Shittu

Kwara state executive council has closed-up all public properties in Harmony Holdings and its wobbling subsidiaries with immediate effect. The affected companies are, Harmony Transport Services, Harmony Insurance Brokers, and Harmony Investment and Property Development Company. Consequently, the council has returned the close-up public properties to the Ministry of Finance Incorporated for better management and reduced liabilities. A statement issued by the state commissioner for Communications, Mrs. Bolanle Olukoju stated that, the decision

was taken due to non performance of the Harmony Holding since its establishment in 2012 despite huge financial commitments made to the company.

The state executive council meeting was presided over by Governor AbdulRahman AbdulRazaq.

The statement said that, “the council received briefings from Commissioner for Finance Dr. Hauwa Nuru on the status of the companies and the best way to stop their continuous losses, in spite of several bailouts and loans that did not yield anything in the public interest

“Following their numerous financial crises, liabilities, and

non-profitability since 2012, Kwara State Executive Council on Tuesday resolved to revert all public properties in Harmony Holdings and its wobbling subsidiaries back to the Ministry of Finance Incorporated for better management and reduced liabilities”.

The Commissioner recalled that huge public funds had been sunk into Harmony Holdings and its subsidiaries like Harmony Transport Services, Harmony Insurance Brokers, and Harmony Investment and Property Development Company, among others, with no penny as returns on investment to the state since 2012.

Saharan

(Gabon), Iran Heavy

Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE)

L-R: Country Director, Nigeria & Portfolio Director, Africa for dmg Nigeria events, Wemimo Oyelana and the Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri during a complimentary visit to Lokpobiri in preparation for NOG Energy Week 2025

Hammed

in Ilorin

Stanbic IBTC Lists N148.7bn Rights Issue on NGX, Paid-up Shares Now

Kayode Tokede

Stanbic IBTC Holdings Plc has listed N148.7 billion worth of shares on the Nigerian Exchange Limited (NGX) after a successful rights issue.

The company had announced the conclusion of its Rights Issue of 2,944,772,083 ordinary shares of 50 Kobo each at N50.50 per share, recording an oversubscription of 121.97 per cent.

The Rights Issue, which

was offered on the basis of five new ordinary shares for every twenty-two ordinary shares held as of the close of business on Tuesday, October 29, 2024, was launched in line with the Rights Circular dated Thursday, January 9, 2025.

Stanbic IBTC Holdings ,however, listed 2.945 billion additional ordinary shares on the Exchange, expanding its equity base.

This development has

increased the total issued and fully paid-up shares of Stanbic IBTC Holdings from 12.957 billion to 15.902 billion ordinary shares of 50 kobo each.

The listing has contributed to the Nigerian Exchange’s growth, with the market capitalization crossing the N76 trillion mark.

Stanbic IBTC’s market capitalization has also seen significant growth, reaching N1.38 trillion, positioning it as one of Nigeria’s most valuable banks.

The acting chief executive officer, Stanbic IBTC Group, Kunle Adedeji recently said, while 96.3 per cent of the rights issue proceeds would be deployed into the banking subsidiary, 42 per cent would target the Corporate and Investment Banking (CIB) to boost counter-cyclical sectors such as manufacturing, power, agriculture, and telecommunications.

He said, 27 per cent of the proceeds would be allocated to

its Business and Commercial Banking (BCB) to support SMEs and commercial enterprises, especially in general commerce while 11 per cent would be utilised for Personal and Private Banking (PPB) to improve credit access for individuals and enhance financial inclusion.

He added that the bank also intend to invest 14.11 of the proceed in IT infrastructure upgrade, including modernising cyber and information security

systems to enhance operational resilience and customer experience, saying, additionally, 2.22 per cent will fund the expansion of its distribution network, with a focus on establishing eco-friendly and technologically advanced branches.

Stanbic IBTC Holdings in its unaudited financial results for the first quarter of 2025, reporting a significant increase in total income and pre-tax profit.

PRICES FOR SECURITIES TRADED ASOF JUNE/25/25

Business Special

Petralon: Empowering Nigeria’s Future Energy Leaders

Through its commitment to nurturing and equipping the next generation of energy leaders with requisite knowledge and insight to operate at highest level of professional excellence, n igerian indigenous oil and gas operator, petralon e nergy l imited is significantly driving the transformation and sustainability of the country’s energy space through the petralon Future l eaders programme, writes Peter uzoho

Indeed, it’s a well-curated catch-them-young capacity building strategy designed for lasting impact in the energy space. When the announcement of enlistment into the Petralon Energy Future Leaders Programme (PFLP) reached the awardees from some of Nigeria’s leading universities, it would have felt just like a reward for their academic brilliance.

This feeling would not be out of place by the reason of their excellence as they get recognitions and rewards from different institutions that value excellence. In fact, from the profile of the awardees of the PFLP, one would be convinced about their steady embrace with acknowledgements.

The youngsters, who were selected from the departments of Geology, Petroleum Engineering, Petroleum and Gas Engineering, based on their outstanding academic performance and alignment with the strategic goal of the Petralon Energy Future Leaders Programme, came decorated according to their pre-university academic record.

Now, with Petralon Energy in their lives, it seems a transformation journey that will bring about a life-changing experience has begun. The indigenous African exploration and production company is holding their hands and leading them through a path of self-actualisation and fulfilment.

About the Future LeAders ProgrAmme

Specifically, as one of Petralon Energy’s strategic corporate social responsibility (CSR) initiatives, the FLP is designed to boost social and human development. The programme will trigger growth, development, and empowerment in people, especially the future energy leaders, who are the direct beneficiaries of the initiative.

“As a practical initiative, our Future Leaders Programme is an investment in the future of the Nigerian energy sector, and an expression of our company’s belief in the power of education and practical experience”, Founder and Chief Executive Officer of Petralon Energy, Ahonsi Unuigbe, said.

He attested that Nigerians have the capacity to do remarkable things in every area of human endeavours.

“With the right exposure, access to practical knowledge and support for Future Leaders Programme awardees, our company is not just looking beyond profit, we are also investing in the future of the Nigerian energy sector by raising leaders, and building professionals, who will deploy best-in-class standards in their practices, and operations, including showing consideration for the environment”, Unuigbe stated.

The company’s position of the capacity of Nigerians to do exploits in any area of human endeavours is not surprising. It reflects the institution’s outlook and capacity. Petralon Energy is a firm believer and promoter of indigenous capacity, and consistently demonstrates this orientation in its engagements.

beneFits For PArticiPAnts

PFLP awardees get a living stipend at the beginning of every semester, book allowance, hostel accommodation and tuition fees within the award value of N1 million every academic session till graduation.

However, for the beneficiaries, who are second year students in their various universities in line with the PFLP, maintaining an expected level of academic excellence is one of the conditions that will provide continuous access to the listed benefits. This will be determined by evaluating their academic results from the preceding session. From the terms of the award, Petralon Energy is geared to helping the students surpass themselves and becoming the very best in their respect fields.

The 10 beneficiaries selected in the first phase of the programme, which was instituted during the 10th anniversary of the company in 2024, from the University of Lagos, University of Ibadan, University of Port Harcourt, University of Benin, Federal University of Petroleum Resources, Effurun, Obafemi Awolowo University and University of Uyo, are going to gain more than support towards their academics.

“Our Future Leaders Programme offers a unique

opportunity to these brilliant students. As beneficiaries, they will gain more than the financial and material support the scheme entitles them to”, Petralon Energy Community Relations & CSR Manager, Dr Kenneth Uzor, enthused.

Uzor said mentoring and strategic exposure are an integral part of the programme, adding that “it’s an uncommon window for both personal and professional development for our future leaders.”

With the mentorship sub-activity, beneficiaries of the PFLP will have access to the highest level of the company’s leadership and benefit from investment in external mentors, engaged to enrich the experiences of the awardees.

Petralon Energy believes that the mentoring component of the programme is a valuable avenue for the youngsters to develop meaningful and useful relationship with experts in the Nigerian oil and gas industry, and consequently acquire the requisite skills and knowledge that will build and position them for a rewarding and excellent career.

The company’s commitment to supporting, nurturing, and equipping the next generation of energy leaders with the knowledge and insight to operate at highest level of professional excellence has significantly shaped its execution of the mentorship component of the Future Leaders Programme, for impact.

“ o ur Future Leaders Programme offers a unique opportunity to these brilliant students. As beneficiaries, they will gain more than the financial and material support the scheme entitles them to”

convenience, Key considerAtion

To deliver on the core objectives of the PFLP, which are talent development and capacity building, Petralon Energy designed the mentorship timetable with consideration for the convenience of the mentees and mentors.

Therefore, the interactions between mentees and mentors can either be virtual, or physical depending on the agreement reached by the two parties, and the mentorship opportunity is available to awardees throughout the lifetime of the Future Leaders Programme. Awardees with bias in Geology would enjoy the special privilege of mentoring sessions with the company’s in-house expatriates, and local geologists, and no more than two mentees are assigned to a mentor, for connection development.

Petralon Evolves as Formiddable E&P Firm

Over the years, Petralon Energy has steadily evolved into one of Africa’s formidable indigenous exploration and production companies. The company’s current assets include both swamp and deep-water fields, and these have enabled the firm to rapidly grow true indigenous ownership within the African upstream sector.

The company’s strategic vision and excellent operational standard have combined to boost its ability to attract funding from some of the best institutions globally in the Americas, Europe, and Africa, to further its operations.

striving to boost nigeriA’s oiL outPut

Recently, Petralon 54 Ltd, a subsidiary of Petralon Energy assigned the sole operatorship of the Dawes Island Field in Rivers State successfully completed a drilling campaign. The campaign success brought the number of active wells in the Dawes Island Field in Rivers State to two. By this, the company is set to boost Nigeria’s daily crude production and contribute to national earnings through its operation. Petralon 54 Ltd commenced

the drilling of a second well in the DawesIsland Field in April 2025 after the arrival of the OES Teamwork rig on the Dawes Island location from another successful operation and concluded the operation in the first week of June 2025.

With its expanded activities, Petralon 54 Ltd has consolidated its position as a major player in the Nigerian upstream sector, and as an operator with enormous capacity to create value for stakeholders through its effectiveness, and excellent practice standards.

The company is committed to its economic ambassadorial role of creating value for its stakeholders – shareholders, investors, host communities, indigenous oil servicing companies and regulators by seeking and nurturing new opportunities while optimizing the existing ones. More importantly, as an entrepreneurial indigenous oil exploration and production company, Petralon Energy and its subsidiary company are open to new opportunities, and ready to advance the socio-economic good of the Nigerian nation.

So, the goal is to build on the successes achieved so far by further increasing field production and pursuing strategic and valuedriven investments to unlock additional growth opportunities in the sector.

The Nigerian government’s call for optimised production from the nation’s oil and gas assets through the creation of an enabling environment for existing and prospective investors is a signal that operational efficiency is a game-changer in the present economic climate.

This is further affirmed by the government’s forefront role in the ‘Project One Million Barrels Per Day’ initiative, which aims to increase national output by One Million barrels through a strong collaboration between the operators, and the regulators in addressing every bottleneck in the production chain.

Without any doubt Petralon Energy is heeding the call to operators in the nation’s oil and gas sector to maximise the assets assigned to them towards the economic stability of the country by making significant investments that will boost its daily output, and contributions to Nigeria’s OPEC quota.

Active engAgement with host communities

Petralon 54, which was awarded Petroleum Prospecting License No. 259 (PPL 259) by the Government of the Federal Republic of Nigeria in accordance with the Petroleum Industry Act (PIA) 2021, has maintained active engagements with its communities since the award.

The organisation sees its host communities as partners and stakeholders in the mutual objective of successfully developing the field. For Petralon Energy, commitment to the host communities is beyond just financial consideration and CSR spendings. The company interacts closely with the communities, to feel their pulse, listen to their thoughts and understand their concerns.

As a reliable and trusted partner in the socio-economic development of their host communities, the company identifies opportunities that will add value, and take steps in turning the opportunities to reality for its host communities.

This practice is driven by Petralon Energy’s belief that its exemplary role will encourage other socially responsible organisations take on the role of change agents, and committedly contribute to the transformation of the Nigerian society through best and responsible business practices.

Incorporated in 2014, Petralon Energy and its subsidiary company, have proven that indigenous operators have the capacity to play purposefully in the Nigerian Oil and Gas sector. The company has forged important international alliances and partnerships that signal that Nigerian institutions with excellent governance structure and risk management framework remain that toast of the global business audience, and are a nectar to foreign investors seeking to do business in Africa.

u nuigbe

RETURN OF BENIN ARTEFACTS...

US Museum Returns Looted Artworks to Benin Kingdom

Emmanuel Addeh in Abuja

The Museum of Fine Arts, Boston (MFA), at the weekend returned two works of art from the Benin Kingdom to His Royal Majesty, Omo N’Oba Ewuare II, Oba of Benin, in a ceremony at the Nigeria House in New York City, which houses both the permanent mission of Nigeria to the United Nations and Consulate General of Nigeria.

The works were presented to His Royal Highness Prince Aghatise Erediauwa and Ambassador Samson Itegboje of the Embassy of Nigeria, a statement from the organisation stated.

The National Commission for Museums and Monuments, working with the Embassy of Nigeria in Washington, D.C., the statement said, will take possession of these two works and coordinate their handling, care, transit to Nigeria, and delivery to the Oba of Benin.

The transfer was coordinated and facilitated by Dr. Arese Carrington, a member of the MFA’s Board of Advisors, the statement added.

In addition to Aghatise Erediauwa, Itegboje and Carrington, the ceremony was attended by

Ambassador Abubakar Jidda, Consul General of Nigeria, New York; Matthew Teitelbaum, the MFA’s Ann and Graham Gund Director.

Others at the event were: Pierre Terjanian, the MFA’s Chief of Curatorial Affairs and Conservation; and Victoria Reed, the MFA’s Senior Curator for Provenance. Some members of the Benin community in New York were also present to witness the return.

“I am pleased to deliver

these two works of art to Prince Aghatise Erediuwa on behalf of HM Oba Ewuare II,” said Matthew Teitelbaum, Ann and Graham Gund Director of the MFA.

“As custodians of these exceptional objects for the past 12 years, it is deeply gratifying to see them returned to their rightful owner. I want to thank Dr. Arese Carrington, Ambassador Itegboje and Consul General Jidda for their partnership in this truly meaningful event,” the MFA officials added.

Looted by British soldiers during the notorious military attack on the Kingdom of Benin in 1897, the objects that were restituted are a terracotta and iron Commemorative Head from the 16th or 17th century and a 16th–century bronze Relief Plaque Showing Two Officials with Raised Swords.

The Commemorative Head can be traced to the London art market in 1899, when it was sold by dealer William Cutter to another dealer, William Downing Webster, along

FG Pledges Steady Electricity Supply to Military Bases Nationwide

Emmanuel Addeh in Abuja

In a move aimed at enhancing the operational capacity of Nigeria’s Armed Forces, the Minister of Power, Chief Adebayo Adelabu, has pledged to prioritise stable electricity supply to all military bases across the country.

The minister made this commitment while receiving the Chief of Air Staff, Air Marshal Hassan Bala Abubakar and his delegation during a visit to the Ministry of Power in Abuja, a statement by Adelabu’s spokesman, Bolaji Tunji, said yesterday.

The visit was part of broader efforts by the Nigerian Air Force to foster deeper collaboration with the ministry on power supply reliability for Air Force bases nationwide, the statement added.

Adelabu described reliable electricity as essential for securing

military facilities and safeguarding national assets. "The President has issued a clear directive to prioritise power to military installations in barracks and bases. It’s a national security imperative," he stated.

The minister highlighted inherited challenges such as inadequate metering and outdated infrastructure, noting that contracts awarded since 2003 for metering of military sites are now entering a renewed and more successful phase.

He also revealed ongoing dialogue with Distribution Companies (Discos), emphasising the urgent need for coordinated efforts to resolve power instability issues across all six geopolitical zones. In a show of commitment, Adelabu cited the recent commissioning of a 3.1MW mini grid to power the Nigerian Defence Academy (NDA) in

Kaduna, as well as ongoing projects in Jaji and other locations. These efforts, he said, will soon be extended to Air Force bases, with a long-term goal of integrating renewable energy solutions into military energy strategy.

"A clean, stable and cost-effective energy supply is critical. The military operates as a strategic institution, not a commercial entity—it deserves tailored energy solutions that reflect its national importance," the minister affirmed.

Besides, the ministry announced plans to replace outdated transformers with modern alternatives and convene a high-level meeting involving all 11 Discos and the Nigerian Electricity Regulatory Commission (NERC) to craft a sustainable, sector-wide approach.

Responding, Abubakar commended the minister for his forward-thinking reforms in the power

sector, emphasising that electricity is vital not only to the economy but to Nigeria’s broader national security infrastructure.

He expressed concern over the encroachment on dedicated transmission lines to military facilities and sought the ministry's support in eliminating illegal connections and resolving long-standing billing reconciliation issues with Ikeja Discos.

The Chief of Air Staff reiterated the Air Force's readiness to collaborate with the ministry in safeguarding national infrastructure and implementing alternative energy solutions across its bases.

Adelabu stated that the strategic alignment between the Federal Ministry of Power and the Nigerian Air Force marks a significant step toward energy security, operational excellence, and national resilience.

with other artwork looted from Benin, the statement stressed.

“The Relief Plaque can be traced directly to the Crown Agent of the Niger Coast Protectorate (the

British protectorate state, in what is today Nigeria, whose forces led the attack on Benin in 1897), who sold it in 1898.

“Both works of art were purchased by Augustus Pitt-Rivers (1827–1900) for the Pitt-Rivers Museum in Farnham, England. The museum closed in the 1960s and its collections were dispersed. Robert Owen Lehman acquired the two works as he built his collection of Benin Kingdom artwork between the 1960s and 1980s, and donated them to the MFA in 2013 and 2018.

“Three works of art from the Benin Kingdom remain in the MFA’s collection. The provenance of these items is inconclusive. They can be traced to the European and American art markets in the second half of the 20th century, and it is not known for certain when or how they left Benin. Research on these objects is ongoing,” it added.

Economic Hardship: US-based

Olusegun Samuel in Yenagoa

A United States Non Governmental Organisation (NGO), Africa's Children's Fund (ACF) has called on Nigeria's elite, corporate organisations and rich individuals to organise and help families in Nigeria and across Africa to alleviate their sufferings through sponsorship programmes and donations to trusted NGOs.

Founder and CEO of the Metro Atlanta based NGO, Victor Mbaba, in an online chat with THISDAY from the United States, said he had seen too much to stay silent after listening to the pains in the voices of struggling families across Africa and the world.

The US-based entrepreneur and philanthropist, therefore called on Nigeria businesses, churches, foundations, and everyday people not to turn away as many are living in difficult times.

He said: "I have seen too much to stay silent. For more than 30 years, I’ve listened to the pain in the voices of struggling families—here in Metro Atlanta, across Africa, and throughout the Caribbean.

“ I’ve seen children who want to learn but have no books. Mothers who work full-time but still sleep in their cars. Fathers who feel like failures because they can’t feed their families.

"This is the reality for thousands of people right now. And while the world debates the causes of our economic hardships, the needs of real people grow more urgent by the day. At ACF of Metro Atlanta, we’ve always believed in the dignity of every human being,” he stated.

According to Mbaba, while the organisation has done a lot to help the needy all over the world, yet a whole lot remains to be achieved, given the growing number of people that need lifting.

"We’ve walked with families through housing insecurity, educational barriers, and food shortages. We’ve helped children stay in school and parents get back on their feet. But we cannot keep doing this alone. This is my call to businesses, churches, foundations, and everyday people. Do not turn away. We are living in difficult times. Inflation, job losses, and rising rent have made it hard for everyone.

L-R: H.E. Ambassador Abubakar Jidda, Consul General of Nigeria; Victoria Reed, Senior Curator for Provenance, MFA; Pierre Terjanian, Chief of Curatorial Affairs and Conservation, MFA; H.E. Ambassador Samson Itegboje of the Embassy of Nigeria; Matthew Teitelbaum, Ann and Graham Gund Director, MFA; His Royal Highness Prince Aghatise Erediauwa; Dr. Arese Carrington. at a ceremony where two works of art looted from Benin Kingdom were returned to His Royal Majesty, Omo N’Oba Ewuare II, Oba of Benin. The works were presented to Oba of Benin and Ambassador Samson Itegboje of the Embassy of Nigeria in New York on Friday

Renowned Industrialist, Leemon Ikpea, Applauds Tinubu on Nigeria's Bold New Tax Reforms

Says legislations simplify multiple tax codes, harmonise collection processes

Prominent Nigerian industrialist and founder of Lee Engineering and Construction Company Limited, Chief Leemon Ikpea, yesterday commended

President Bola Tinubu, following last week's signing of new tax reform laws by the administration.

In a statement he personally issued, Ikpea hailed the legislative breakthrough as a ‘visionary and

courageous step’ toward streamlining Nigeria’s fiscal environment, boosting economic productivity, and attracting sustained investment into critical sectors of the economy.

“President Tinubu has once again

demonstrated that he possesses both the political will and the economic insight to reposition Nigeria for greater competitiveness in a rapidly evolving global landscape.

“The passage and signing of the

Account for Security Vote Spending or Face Court, SERAP Warns Govs

Chuks Okocha in Abuja

A leading civic group, the SocioEconomic Rights and Accountability Project (SERAP), has asked Nigeria’s 36 state governors to come clean on how they’ve spent security vote funds since taking office on May 29, 2023. In a Freedom of Information request dated June 28, 2025, SERAP said the public has a right to know how billions of naira allocated for security are being used, especially with rising insecurity across the country.

“In the wake of the Benue massacre and well-documented ongoing cases of insecurity in several states, there is a

legitimate public interest for governors to account for how they spend security votes,” the group said.

The request, signed by SERAP’s Deputy Director, Kolawole Oluwadare, also called on governors to allow Nigeria’s anti-graft agencies, the EFCC and ICPC, to investigate and monitor how the funds were disbursed.

Despite large annual budgets under the label of ‘security votes,’ SERAP said many governors have “grossly failed” to improve safety in their states.

“This is contrary to section 14(2) (b) of the Nigerian Constitution,” the group added.

SERAP criticised the secrecy

surrounding how the funds are spent, warning that it encourages corruption and blocks citizens from holding elected leaders accountable.

The group also reminded governors that they can no longer claim the Freedom of Information Act doesn’t apply to them.

“The Supreme Court has made it clear that state governors can no longer hide under their unfounded claim that the Freedom of Information Act does not apply to them,” SERAP stated.

The group said it would take legal action against any governor who fails to respond within seven days.

Quoting a World Bank report,

SERAP warned that insecurity continues to push millions into extreme poverty, making transparency more urgent than ever.

“The judgment sends a powerful message that state governors can no longer escape accountability for how they spend security votes,” the group added.

“Disclosing details of spending public funds as security votes by your state would serve to engage the Nigerian people in an honest conversation about the security problems in several states and what the governors are doing to respond to them.”

Katsina Gov Approves N500m Empowerment Programme

Francis Sardauna in Katsina

Governor Dikko Radda of Katsina State has approved a N500 million empowerment programme for 7,220 rural women and youths across the 34 local government areas of the state.

The approval of the programme christened, “Dikko Rural Women and Youths Entrepreneurship Support Programme,” was announced during the launch of Katsina Enterprises Development Agency (KASEDA) Digital Academy. Director-General of KASEDA, Hajiya Aisha Aminu-Malumfashi, who announced the governor’s approval at the event, said the

revolving loan empowerment programme would be implemented by the state government through her agency.

Aminu-Malumfashi said the programme would empower the 7,220 rural women and youths with both capital and entrepreneurial skills to establish and grow Nano, micro and small businesses with an expected 80 per cent loan repayment rate.

She added that the programme would offer access to loan to the beneficiaries and deliver capacity building training programmes for their financial literacy, entrepreneurship, and basic business

management.

She explained the prospective beneficiaries of the programme would be mobilised through registered business cooperatives, a strategy that will enhance growth, accountability and sustainability of the programme in the state.

Represented by Technical Assistant to the Governor on Enterprises Development, Dr. Babangida Ruma, the KASEDA director-general said the loan scheme ensured funds sustainability while defending the financial inclusion of over 70 per cent of the beneficiaries.

Aminu-Malumfashi stated, “Today, I am happy to announce

that His Excellency (Dikko Umaru Radda) has graciously approved the launch of Dikko Rural Women and Youths Entrepreneurship Support Programme—a transformative programme under his inclusive enterprise development efforts.

“This initiative will empower 7,220 rural women and youths with both capital and entrepreneurship skills to establish and grow Nano, micro and small businesses with an expected 80 per cent loan repayment rate.

“The initiative, backed by N500 million funds, is designed to raise income levels, create jobs, stimulate local economy and growth within Katsina State.”

new tax laws not only reflect a deep commitment to fiscal transparency and equity, but also herald a new era of responsible governance that prioritises the needs of businesses, the workforce, and everyday Nigerians,” Ikpea noted.

The new tax reforms, which simplify multiple tax codes, harmonise collection processes, and offer fresh incentives for local manufacturing and value-added production, have been widely regarded as one of the boldest fiscal steps taken by any administration in recent times.

Speaking on the new legislations which include: the Nigeria Tax Reform Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service Establishment Bill, and Joint Revenue Board Bill, Ikpea opined that the reforms signal

a renewed focus on creating a more predictable business climate. He added: “For decades, entrepreneurs and investors in Nigeria have had to contend with a web of conflicting, overlapping, and arbitrary tax demands from different levels of government. This reform offers clarity and structure. It encourages compliance rather than coercion and positions the government as a true partner in national development.” Besides, he emphasised the potential of the new laws to increase Nigeria’s Internally Generated Revenue (IGR) without placing undue pressure on vulnerable citizens, explaining that a well-managed tax system ensures not only fairness but long-term sustainability in public finance.

Group Laments Poor Implementation, Enforcement of Child Rights Act at Federal, State Levels

James Emejo in Abuja

A coalition of non-governmental organisations, Child Protection Network Nigeria (CPN), expressed dismay over the "troubling" level of implementation and enforcement of the provisions of the Child Rights Act in federal and state laws.

National Coordinator of CPN, Mr. Olakunle Sanni, said findings were "not impressive as it should be".

Spoking at a media briefing on the State of the Nigeria Child, in Abuja, over the weekend, Sanni said, "While we are happy with the successes the CRA and its domestication has brought, we are troubled that after 22 years, the level of implementation and enforcement of the provisions in the federal and state laws, respectively, are not as impressive as it should be."

He said the efforts were not commensurate with the result on the ground.

"There are still a lot of rights violations affecting children

everywhere in Nigeria as they continue to face unending violence, exploitation, and abuse," he stated. Sanni said there was still widespread neglect in the areas of protection, healthcare, food, education, and shelter, among others.

The group, among other things, demanded that schools in the Federal Capital Territory (FCT) should resume immediately to save the future of the children, and Primary Healthcare Centre (PHC) workers and school teachers should also reconsider their stance in the best of children.

CPN stated that cases of child abuse, such as the recent ones in Oyo and Sokoto states, and many other cases across the country, should be prosecuted promptly and accordingly while ensuring justice was served. It added that school feeding programme should be reintroduced in schools and indigent school children should be supported with free food, adding that free health care services for all categories of children should be implemented.

Emmanuel Addeh in Abuja

TINUBU IN SAINT LUCIA...

President Tinubu (left) exchanges gifts with Governor-General of Saint Lucia, Cyril Charles, during a courtesy visit at the Government House, Morne Fortune, on the second day of his State Visit...yesterday

BSN TOASTMASTERS CLUB CHANGE OF GUARD CEREMONY...

L-R: TM Ethel Soji-Adeyemi, the Treasurer; TM Bunmi Ajao, the Vice President Education; TM Bukola Ayeni, the Outgoing President; TM Bob Iloka, the Incoming President; TM Edikan Musa, the Vice President PR; TM

the Vice President Membership; and TM Ekene Ugbachie, the Sergeant-at-Arms at the BSN Toastmasters Club Change of Guard Ceremony, Ikeja, Lagos…recently

Northern Elders Decry Massacre of Soldiers in Niger

Demand state of emergency over worsening insecurity in the north COAS: Our commitment to safeguarding Nigeria’s sovereignty, upholding rights of citizens remains absolute CDS proffers workable solutions to insurgency, terrorism, banditry, others in new book

As suspected armed bandits abduct businessman in Kwara

Linus Aleke, Folalumi Alaran in Abuja and Hammed Shittu in Ilorin

Northern Elders Forum (NEF) has expressed deep outrage over the brutal killing of more than 20 soldiers in a terrorist ambush near Bangi, Mariga Local Government Area of Niger State. NEF described the attack as further evidence of a total collapse of security in northern Nigeria.

The forum said the incident, which occurred on June 24, was not just an isolated attack but a clear declaration of war against the Nigerian state, one in which, according to NEF, “the state is steadily losing”.

Relatedly, Chief of Army Staff, Lieutenant General Olufemi Oluyede, stated that regardless of the challenges faced in the line of duty, the Nigerian Army's commitment to safeguarding Nigeria’s sovereignty, protecting its territorial integrity, and upholding the rights of all citizens remained absolute.

Oluyede stressed that the Nigerian

Army will continue to bear the torch of the nation's sovereign values, adding that the light of Nigeria's heritage shall never fade.

Oluyede made the commitment during an Interdenominational Church Service to commemorate the Nigerian Army Day Celebration 2025 at All Saints Military Church (Protestant), Mogadishu Cantonment, Asokoro, Abuja.

Chief of Defence Staff (CDS), General Christopher Musa, on his part, proffered practical solutions to the growing security threats, such as insurgency, terrorism, banditry, kidnapping, and other emerging threats in Nigeria.

Some of the solutions, contained in his new book, "Insurgency, Terrorism and Banditry in Nigeria: Admonition to Nigerian Youths," included promoting inclusive governance, solving poverty issues in society, and cultivating essential family values, like love, tolerance, honour, and empathy.

The book launch came as gunmen

suspected to be Fulani bandits, reportedly, abducted a well-known agro-chemical businessman, popularly known as Alhaji Chemical, in Lafiagi Town, Edu Local Government Area of Kwara State.

THISDAY checks revealed that the incident happened in the early hours of Sunday in Lafiagi Town. The victim, it was gathered, had just returned from the Holy land of Saudi Arabia.

In a statement issued by NEF’s spokesperson, Professor Abubakar Jiddere, on Saturday, the forum condemned the massacre and declared that the north was “under siege” from terrorist groups, who now operated with impunity across the region.

The statement said, “More than 20 uniformed men, defenders of the nation, were slaughtered like animals by a gang of well-armed terrorists who launched a brazen, coordinated ambush that completely overwhelmed the base. This is not just an attack, it is a declaration of

war against the Nigerian state, and the state is losing.

“This barbaric assault is only the latest chapter in the ongoing bloodbath that has turned northern Nigeria into a war zone throughout June 2025. From Benue to Plateau, from Kwara to Kaduna, and from Zamfara to Sokoto, Borno, and now Niger, what we are witnessing is not mere insecurity, it is an unrelenting campaign of terror, mass murder, and state failure.

“Entire communities are being wiped out, homes torched, lives shattered, and still, the killers roam freely, unchallenged, and unpunished.”

Jiddere stated, “The truth is stark and undeniable: the Nigerian government has failed abysmally and consistently in its constitutional duty to protect lives and property. The north is drowning in blood, its people abandoned, while the security forces either cannot respond or are completely absent.

“The Northern Elders Forum will

Biafra War: Your Govt Declared War Against Igbos, Not Secessionists, Ohanaeze Ndigbo Chides Gowon

The apex Igbo socio-cultural organisation, Ohanaeze Ndigbo, has rejected the recent remarks by former military Head of State, General Yakubu Gowon, purporting that the Nigerian-Biafran War was not primarily targeted against the Igbo, but against secessionists who resisted the Nigerian government in 1966.

Speaking during an interview on Arise News in Abuja, Gowon had

explained that the war effort under his leadership was directed at stopping secession and preserving the country’s unity. He said it did not target any ethnic group.

But in a statement issued by Deputy President General of Ohanaeze Ndigbo, Okechukwu Isiguzoro, the body stated that Gowon's assertions were not only gross misrepresentations of historical facts, but also an affront to the collective memory and sensibilities of the Igbo nation.

Ohanaeze Ndigbo emphasised that Gowon's military aggression against the Igbo was not a reaction to secessionist ambitions; rather, it was a calculated initiative aimed at safeguarding British economic interests in the oil-rich Eastern Region of Biafra and retaliating against perceived threats from post-1966 coup.

Isiguzoro stated, "We are compelled to address and clarify the deeply entrenched biases and distorted narratives perpetuated by General Gowon.

"As a 91-year-old former military Head of State, he remains a pawn in the hands of colonial powers and the Fulani oligarchy, both of whom orchestrated his actions during what became an unjust war against the Igbo.

"Gowon failed in his responsibilities as Commander-in-Chief to safeguard the lives of Nigerians, particularly the Igbo populace, during the 1966 Northern riots, which unleashed unimaginable atrocities and ultimately led to the massacre of countless Igbo people.

UNIPGC Signs Historic Agreement with IOED, Boosting International Diplomatic Status

In a landmark development, the University of International Professional and General Certification (UNIPGC) has signed a bilateral inter-institutional diplomatic headquarters cooperation agreement with the International Organization for Economic Development (IOED).

This agreement grants UNIPGC extraterritorial jurisdiction, international legal personality, and diplomatic

immunities and privileges. UNIPGC will now be able to sign headquarters agreements with countries and establish official diplomatic representations.

IOED, an intergovernmental organization with special diplomatic status, has approved UNIPGC's production of official diplomatic and national documents, including diplomatic passports and biometric national identity cards.

This partnership marks a significant milestone in UNIPGC's growth and

reinforces its commitment to global cooperation and development.

According to sources, the partnership enables UNIPGC to sign headquarters agreements with countries, request diplomatic representations, and enjoy immunities and privileges. IOED has also approved UNIPGC's system for producing official diplomatic and national documents.

IOED's special diplomatic status, granted by the United Nations, provides full diplomatic

immunities and privileges, including extraterritoriality. This partnership is expected to elevate UNIPGC's global presence and facilitate international cooperation.

The development is seen as a significant step forward for UNIPGC, enhancing its ability to collaborate with governments, institutions, and organizations worldwide.

More details on this partnership are expected to be released in the coming days.

no longer accept hollow condolences, tired speeches, or sterile press releases.

Nigerians deserve visible, aggressive, and accountable action now.

“If the federal government continues to delay, deflect, or downplay this crisis, the Nigerian people will have no choice but to believe, rightly or wrongly, that this inaction is wilful, or worse, complicit.”

The forum demanded the immediate declaration of a state of emergency on security across northern Nigeria, saying, “This must be followed by decisive, joint military, and intelligence operations with the sole objective of locating and eliminating every single terrorist and armed groups threatening our people, regardless of who shelters them or where they operate.

“The blood of northern Nigerians is not cheap. Our soldiers are not cannon-fodder. Our citizens will not continue to die silently while a complacent government watches from a distance.

“The NEF warns in the clearest possible terms that the continued federal inaction will provoke open resistance. The patience of our people has run out. The legitimacy of any government that cannot or will not protect its citizens is gone. Enough

is enough. We will not be silent. The North will not kneel before terror.”

At the book launch, Oluyede said, "We shall never depart from our honour, which is tied to our faith, and we will continue to live true to the Nigerian Army motto, 'Victory is from God Alone'."

The COAS reaffirmed that soldiers were the pillars that upheld the strength of the Nigerian Army, as they advanced the divine calling to protect peace, justice, and the dignity of all Nigerian people.

He said, "It is on this foundation that the fundamentals of sound administration, central to my Command Philosophy, will continue to place our soldiers first.

“The theme for this year's Nigerian Army Day Celebration was deliberately crafted as ‘Developing the Soldier First Concept: Imperative for Nigerian Army Transformation Drive.’”

Oluyede stated that as the Nigerian Army progressed into the future with that noble aspiration, unity of thought, as a policy, will continue to upgrade the quality of operations through improved training, acquisition of modern equipment, and enhancement of operational and administrative processes.

Segun Awofadeji in Gombe

Governor Muhammadu Inuwa Yahaya of Gombe State has flagged-off the 2025 farming season with a major intervention, aimed at supporting the farming population.

This was as the governor boosts fertilizer supply by 150 percent for the 2025 wet season farming in the state, and vowel to ensure transparent distribution, warning against diversion of the product.

While launching the sales and distribution of subsidized fertilizer for this year’s wet farming season yesterday, Governor Inuwa Yahaya announced the procurement of 10,000 tonnes of the input to be sold to farmers at a subsidized rate, in a major step aimed at strengthening agricultural productivity in the state.

He said the quantity represents over twice the volume distributed during the 2024 wet season, which he said is part of a sustained efforts to scale up support for farmers and reinforce the position of Gombe in Nigeria’s food security drive.

The governor also stressed the

intervention is in line with President Bola Ahmed Tinubu’s Renewed Hope agenda, which recognizes agriculture as a vital pillar for inclusive economic development.

He noted that over 80% of the population in Gombe State are engaged in farming, and that over the past six years, his government has consistently subsidized farm inputs to support farmers.

“For the 2025 wet farming season, we have procured 10,000 metric tons (200,000 bags) of NPK 20:10:10 fertilizer at the cost of N44,000 per bag but will be sold to farmers at a subsidized rate of N27,000. This gesture underscores our commitment to making agriculture affordable, accessible, and productive”, the governor announced.

“As we are all aware, timely access to agricultural inputs is crucial to enhancing agricultural productivity. In this regard, today’s flag-off of the sales of fertilizers to the farmers testifies to our commitment to ensuring timely and affordable access to agricultural inputs for farmers”, he added. Gov Yahaya Flags Off

Benjamin Nworie in Abakaliki

Onuminya Innocent

Lanre Oloruntobi,

LAGOS LEATHER FAIR 2025...

Mbah: I Stand By S’East Position, 11 NWC, BOT on NEC, National Scribe in PDP Crisis

Says zone reserves right to review future with party, Wike assures Anyanwu all will be well Party’s caucus meeting holds today

Chuks Okocha in Abuja Enugu State Governor, Dr. Peter Mbah, yesterday, said he fully stood by the position of the National Working Committee (NWC), the Board of Trustees, and South East Zonal Executive Committee (ZEC) of the Peoples Democratic Party (PDP), on the crisis rocking the party.

Mbah also expressed support for the National Executive Committee (NEC) meeting of the party scheduled for today, Monday, June 30th, 2025, saying while he was still a member of the PDP, he was “simply fed up with the shenanigans that had more or less made the party an endless circus.”

This was as the minister of the federal capital territory (FCT), Nyesom Wike, has congratulated he embattled national secretary of the PDP, Samuel Anyanwu, on his 60th birthday and assured him never to worry as he was solidly behind him.

This regardless, the PDP leadership said it would go ahead with its expanded caucus meeting slated for today, even as it has invited officials of the party to the caucus meeting.

However, the Enugu governor, who made his position known to newsmen

after a closed-door meeting with Governor Seyi Makinde of Oyo State; Chairman of PDP Board of Trustees, Senator Adolphus Wabara; and the South East Zonal Chairman of the party, Chief Ali Odefa, among others, at the Government House, Enugu, reiterated the position of the South East ZEC of the PDP to review its future with the party if its stand on the issue of the National Secretary was not honoured, insisting it remained sacrosanct.

According to Mbah, “For the record, just as I stated during my interactive session with Fellows and Members of the Nigerian Guild of Editors in Enugu at the weekend, while I am still a member of the PDP, the South East – and that includes me – reserves the right to review our continued membership of the party if the party is unwilling to put its house in order.

“That was invariably the position adopted during our last South East Zonal meeting held here in Enugu. During that meeting, the caucus noted that the party should not disregard the zone’s stand regarding the National Secretary position.

“To all intents and purposes, this has obviously not been the case. So, there is no doubt as to where I stand

Atiku: Education Remains Key to Unlocking Nigeria's Potential, No Better Investment

Kuni

Former Vice President Atiku Abubakar has reiterated that education remains the master key to unlocking Nigeria's huge potential which will set the country on the path to full socio-economic development.

He noted that education being a currency is crucial for national unity, stability, and development, while emphasising that an educated citizenry is less prone to being manipulated by divisive elements.

Speaking on Sunday at the Graduation and Prize-giving Day of Pacesetters' School, Abuja, the former presidential candidate of the Peoples Democratic Party (PDP), believes that adequate funding and a curriculum promoting entrepreneurship are essential for achieving this goal.

Abubakar also stressed the importance of education in his own life, stating it has made him who he is today.

His words: "I'd like to congratulate my friend, Barr. Kenneth Imansuangbon for investing in human development.

There's no better investment than education, as it empowers individuals to become engineers, doctors, or whatever profession they choose.

“I commend the Pacesetters Schools' noble cause and challenge them to expand from nursery, primary and secondary school to university.

"I congratulate the graduating students, and I'm thrilled to see some of my own graduates among them. I thank the Chairman for inviting me to this historic event, which aligns with my passion for education. Even in retirement, I look forward to returning to university," he said.

The former Vice President compared the United States Peace Corps to Nigeria's National Youth Service Corps (NYSC), sharing a personal experience from 1961 when Peace Corps American teachers were deployed to his secondary school in Northern Nigeria, filling a gap left by departing British teachers. He said this significantly impacted his education, adding that the experience inspired him to adopt an American curriculum in his schools.

on the matter. The position of the South East with respect to the National Secretaryship of the party as issued in that communique is sacrosanct,” he stated.

Other PDP chieftains at the meeting included the former National Chairman of the party and BOT member, Dr. Okwesilieze Nwodo; Senator Sam Egwu, Iyom Josephine Anenih, Senator Ben Obi, and Hon. Udeh-Okoye, among others.

Don’t Fear, Wike Tells Anyanwu

Minister of the federal capital territory (FCT), Nyesom Wike, has congratulated the national secretary of the PDP, Samuel Anyanwu, on his 60th birthday, assuring him never to worry as he was solidly behind him.

Speaking at the birthday ceremony and presentation of a book titled: ‘Sam Daddy in My Eyes’, on Saturday in Abuja, Wike praised Anyanwu over his affirmation as the PDP national secretary.

According to Wike, “I am happy with the crowd I am seeing here. It shows you are a man of the people. Let me assure you, for people like us, we will stand with you. We will continue to be with you. It doesn’t matter what the people will say.

“Nobody fights a war, wins and begs. You have won, and the people concerned should come and talk to you, not you inviting them. You don’t fight a war and win and then people will say come, no. Tell them, ‘You, come to me’.

“You have people like me, so don’t be afraid. I am here. We have done

it before, and we will do it again. Some people will not be happy, but I am happy.

“What makes a man is his character and not how much money he has or the food he provides. If you don’t have character, go to hell with your food.”

Wike said he advised Anyanwu to be steadfast and unyielding in the tussle for the national secretary position, saying, “So I warned him, if you know you will not stand firm, say it now. I also asked him, are you sure you can stand this fight?

“A situation where virtually everybody, including governors, are fighting you, will not be easy but if you stand firm you will win.

“However, if you begin to go left and you go right, not only will you lose, you will suffer, and he assured me that he would stand firm and would

not change.

“You have shown me, with what had just happened recently, that you are a man that will stand by his words,” the FCT minister stated.

PDP Caucus Meeting Holds Today

The expanded PDP caucus meeting is going ahead today, even as officials across board have been invited. In a statement by the national secretary of the party, Anyanwu, the party said, ''The National Working Committee (NWC) of our Great Party, PDP, wishes to inform and invite the following Stakeholders to a Special Expanded National Caucus Meeting of our Party scheduled to hold as follows:

UTME: JAMB Threatens Prosecution of Parents Aiding Children in Exam Malpractices

Kuni Tyessi in Abuja

Registrar and Chief Executive Officer of the Joint Admissions and Matriculation Board, JAMB, Professor Ishaq Oloyede, has disclosed plans to prosecute parents aiding their children and wards examination malpractices.

Oloyede stated this, weekend, while monitoring the Unified Tertiary Matriculation Examination, UTME, mop-up exercise at the Technology CBT Centre in NAF Valley Estate, Abuja.

Lamenting the situation, the Registrar said parents are the major problem facing the conduct of public examinations as they found malpractices even to the detriment

of their children.

“Parents found to be financing examination malpractice schemes for their children would soon face investigation and possible prosecution,” he told reporters on Saturday.

Oloyede, however, revealed that than 80 percent of the 98,232 candidates eligible for the nationwide mop-up did not show up for the exercise.

He said it was not surprising especially when the Board has intensified security measures targeting impersonators and exam cheats.

He said only about 12 percent out of about 90,000 registered candidates showed up across the country.

Justifying the mop-up exams,

he said it is typically organized for a few thousand candidates with legitimate reasons such as illness or verified technical issues to miss the main UTME.

“Every year, we do mop-up. And it is normally for about 4,000, 5,000 students who for illness, for genuine excuse could not take the exam.

Or who after review, we saw had technical problems in their centers.

This is normally for about 4,000, 5,000.

Every year we do that,” he said.

He explained that this year’s large mop-up pool was necessitated by allegations of widespread absences in the main examination.

According to him, the Board

opted to give everyone a second chance—while also leveraging intelligence gathered from security agencies.

“In the wisdom of the management and our stakeholders, we felt everybody (who missed the exam) should be given opportunity. Whether for whatever reason that you did not make it. But again, we also knew that we are wiser.

“Given the work that we have done in conjunction with the SSS and the police. We have been able to get some intelligence, some information that we could use. To really apprehend those who are impersonating in particular.

Yinka Kolawole in Osogbo

A major setback at the weekend hit former Governor Rauf Aregbesola-led Omoluabi Progressive Group and Peoples Democratic Party as over 100 members officially defected to the All Progressives Congress in Ejigbo Local Government Area of Osun State from Omoluabi 's Caucus. This strategic political realignment

which took place at the official reception organized by Ejigbo Local Government APC which held at the weekend in Ilupeju Multipurpose Hall, Ejigbo, Osun State also ushered in scores of PDP loyalists into APC.

Receiving the defectors into the party in their hundreds, the Ejigbo APC Leader, Senator Mudashiru Husain, who promised fairness, inclusivity also noted it was delightful and awe-inspiring \

the party kept heaping more members and increasing its ranks despite being in the opposition in the state.

The frontline gubernatorial aspirant further emphasized the defectors have taken the best political decision because APC remained the only party that has deep connection with social welfarism, economic transformation and human capital development as being exemplified by President Bola Ahmed Tinubu.

According to him, "The unprecedented number of people crosscarpeting from PDP and particularly, Omoluabi Progressive Tendency, is a product of purposeful and collective leadership for which I've been pushed forward to spearhead by other Ejigbo progressive leaders as the Apex Leader. Our teamwork has paid off and it's just starting."

Tyessi in Abuja

L-R: Convener, Lagos Leather Fair and Founder, Femihandbags, Mrs Femi Olayebi; and Lagos State Commissioner for Tourism, Arts and Culture, Mrs Toke Benson-Awoyinka, during the opening ceremony of the 2-Day Lagos Leather Fair 2025, held at Victoria Island, Lagos... recently

MEETING OF THE INTERNATIONAL PARLIAMENTARY UNION...

Shehu Sani: Nigeria Must Maintain Rotational Presidency to Ensure Unity

Chuks Okocha in Abuja

Former Senator representing Kaduna Central Senatorial District, Shehu Sani, has said that rotating the office of the president between the north and south is imperative to keep Nigeria one and united. Sani made the statement in an interview with news men on Sunday in Abuja.

He said that Nigerians should accept the reality of their history and continue with the rotational presidency arrangement, for now.

“We are a country of experience. There are many African countries that never had the kind of experience we had. We had been through a period of violent military coup, civil war, different democratic governments and military rules, and we all survived.

“Now we are experiencing

banditry, terrorism and I believe we will survive. If you look at the multi-ethnic/religious nations such as ours, people feel more comfortable when they see someone from their part of the country in power,” he said.

Sani said that things might change with time but that at the moment, the arrangement was more of giving a sense of belonging to every part of the country to produce leadership.

He said that given the arrangement, no part of the country in power could use either their demographic or geographical advantage to remain in office perpetually, saying that same arrangement was equally applicable at the state level.

Sani recalled that before the emergence of former President Goodluck Jonathan, there were several incidents of attacks on the country’s oil pipelines.

Groups Adopt Empowerment Strategy to Expand Tinubu’s Support Base in South-east

Emmanuel Ugwu-Nwogo in Umuahia

Groups in the South-east drumming support for President Bola Tinubu's second term bid have continued to fine-tune their strategies to swing the voting pattern of the zone in his favour come 2027.

One of such pro-groups, the South East Renewed Hope Agenda (SERHA) said at the weekend that massive empowerment of the people in the grassroots would form its main strategy to expand Tinubu’s support base across the five states of the zone.

The National Coordinator of SERHA, Ambassador Belusochukwu Enwere, made this known at the inauguration of the Abia State chapter of SERHA at the Jubilee Hall, Mater Dei Cathedral Umuahia. He said that the group was determined to ensure that the positive impact of Tinubu’s economic policies was felt in the rural areas.

“We are not just inaugurating a state chapter today. We are empowering our people with tools and resources to uplift their lives," Enwere said, adding, "This is about real impact”.

Alluding to the huge voting potential of the rural folks, the National Coordinator stated that SERHA would continue to spread the message of Mr. President's renewed hope agenda and national unity in order to endear him to the grassroots.

He told members of SERHA that

in galvanizing support for Tinubu ahead of the 2027 general election, the organisation would continue to align its activities with the broader goals of the Renewed Hope Agendabridging economic gaps, strengthening local enterprise.

Enwere charged the Coordinators of SERHA in the 17 Abia Local Governments, who were inaugurated at the event to take the message of hope and economic empowerment to the grassroots with the assistance of Ward Coordinators.

He gave a minibus to the state chapter to ease its movements, assuring that every other logistics support would be made available to facilitate its activities.

The SERHA National Coordinator lauded Tinubu for his unwavering commitment to good governance and national transformation through his well-intentioned policy initiatives.

“President Tinubu has proven his commitment to national progress through economic reforms, infrastructure development, and investments in education and healthcare,” he said.

The SERHA national leader also noted that the Tinubu touch has been felt positively in the education sector, citing the establishment of the Nigeria Education Loan Fund (NELFund), which has made tertiary education more accessible to Nigerian youths.

He, however, stressed the need for Nigerians to realise the fact that rotational presidency might not mean that when a president comes from a particular part of the country, that the problems of the people from that zone would automatically be solved.

“Former President Muhammadu Buhari was seen by the northerners as a magician and a miracle worker who would solve all the problems of northern Nigeria; he came, saw and left the problems as they were.

“Now it is the turn of the South-

west, Jonathan has equally left, maybe other parts of the country yet to be there are the ones dreaming what others had already experienced.

“I believe that it will reach a point in our history where everyone will realise that the ethnic and religious identities of a leader doesn’t mean the solutions to the problems before a nation and that is when we will consider abandoning rotation of the presidential seat,” he said.

The former senator, while speaking on the recent mass killings in Yelewata,

Guma area of Benue, said there was the need to solve the problem to avoid a recurrence. Sani noted that the situation in Benue was equally evident in Plateau and Nasarawa states.

According to him, the solution to the problem is for the northerners to see the situation as a collective problem that should be jointly addressed.

“It is time for the political leaders in these parts of the country to sit down and address the problem, to secure both the people and the

country. How this can be done is simple. For instance in Benue, the Fulani people have been living there for more than a century and have been well accommodated.

“There is even a folk relationship between the Tiv people and the Fulani people for centuries. So at what point was the trigger for this violence? This is what the north needs to dig into and address. The Fulani people are not farmers, they are herders, while the Tiv people and Idoma people are farmers.

ADA: Registering New Party Superior to Fusing into Existing One, Says Secretary

Chuks

The Secretary of the National Coalition for Opposition Group (NCOG) Dr. Umar Ardo, has insisted that registering a new political party is strategically superior to fusing into an existing one.

He stated that with a decision date now set between fusing into an existing party, the African Democratic Congress (ADC), or adopting to proceed with the registration of a new one, the All Democratic Alliance (ADA), he was in favour of the latter.

''With all due humility, I dare say both approaches are mutually exclusive; they cannot be pursued together as people cannot be in two political parties at the same time!

''Opting to decamp into the ADC, or any minor existing party, is in my view a wrong strategic move. Its proponents have not articulated

any convincing electoral advantage beyond the platform itself. Rather, they rely on vague rhetoric about a new political era, without addressing the actual political terrain and electoral calculus of 2027,” Ardo stressed.

Giving further reasons why the coalition should champion a new party than fusing into an existing party, Ardo, said in contrast, advocates of registering the ADA have grounded their case in logic, strategy, voter psychology and institutional renewal.

He stated that arguments submitted in their formal reports, presented in coalition meetings and consistently articulated in the public domain support this view.

''The ADC carries institutional baggage and credibility issues. Its underwhelming history – highlighted by its misadventures in the 2019 and 2023 election cycles underscores its limited appeal. Fusing into such a

party imports its weaknesses and dangers, not strengths nor certainties. New faces cannot erase its political liabilities.

''Forming a new party like ADA offers a clean slate to shape a credible, compelling identity, untainted by legacy failures. It enables the coalition to define its values, vision and leadership on its own terms. In politics, perception is power – Nigerians are more likely to embrace a fresh beginning than a rebranded relic.

“As per the account of the proponents of fusing, the only reason they don’t want to go the new party route is that the Electoral Commission is believed to be compromised and so would not register the desired party.

“ If that is the only reason, and assuming it is correct, then how can fusing into an existing party save them from the axe of the commission

seeing that it is the same commission that will conduct the general elections they will be contesting, assuming it allows them to reach the general elections stage. For me, therefore, this is no argument at all'', Ardo stated. On the other hand, he said creating a new platform carries the novelty of psychological and symbolic power, especially among youths.

“We have seen this as a proven political asset. From Macron’s En Marche in France, to Buhari’s APC in Nigeria to Faye’s PASTEF in Senegal, new platforms have sparked real change. The Nigerian youths, disillusioned by older structures, will seek a movement they can believe in.

''That over 8.92 million Nigerians engaged positively with ADA’s INEC filing in less than 72 hours – more than the votes that elected the current president – reveals public appetite for something new.

Capital Apex Urges Tinubu to Resolve Nasarawa Mining Dispute Amid Senate Probe

Sunday Aborisade in Abuja

Capital Apex Synergy Global Services, a licensed mining company, has called on President Bola Tinubu and relevant federal authorities to urgently intervene in a prolonged mining dispute in Rafingaba, Kokona Local Government Area of Nasarawa State, which it claims has cost the firm billions of naira.

At a press conference in Abuja yesterday, the firm’s spokesperson,

Aliyu Zubairu, accused a rival company of illegally encroaching on a mining site legally licensed to Capital Apex.

According to him, despite having valid mining documents and court orders in its favour, Capital Apex’s operations remain blocked by continued interference from the rival firm and alleged complicity by security operatives.

“This dispute is no longer just a corporate issue. It threatens investor confidence, undermines the rule of

law, and casts doubt on Nigeria’s seriousness about developing its mining sector,” Zubairu stated.

He explained that Capital Apex legally acquired two Small Scale Mining Licences—SML Nos. 036868 and 037075—originally issued to Bajas Nigeria Limited, through a due transfer process approved by regulatory authorities.

In addition, the company has entered into a technical partnership with a foreign investor and invested heavily in the site’s development.

Despite these efforts, Zubairu said the rival firm continues to occupy the site unlawfully. He presented a range of documents—including mining licences, ministerial correspondences, and a High Court injunction dated March 11, 2025—showing that Capital Apex is the rightful holder of the disputed mining area. However, he alleged that the firm in quest has disregarded these directives and continued mining activities in violation of the law.

Okocha in Abuja

President of the Senate, Godswill Akpabio being received by the chair of the Parliamentary Committee on Environmental Protection and member of the Hellenic Parliament, Dr. Dionysia-Theodora Avgerinopoulou, with the Charge D' Affaires, Embassy of the Federal Republic of Nigeria in Greece, Ambassador Ayo Luther-Ogbomode, at the Archaia Olympian Andravida Military airport ,Greece for the Executive Committee Meeting of the International Parliamentary Union (IPU) on

Saturday Photo: Senate President's office

BURIAL OF EKITI DEPUTY GOVERNOR’S MOTHER…

L-R: First Executive Governor of Ekiti State, Otunba Niyi Adebayo; Deputy Governor of Ogun State, Noimot Salako-Oyedele; former Ekiti State First Lady, Erelu Bisi Fayemi; Senate Leader, Senator Opeyemi Bamidele; Wife of Ekiti State Governor, Dr. Olayemi Oyebanji, and Ekiti State Governor, Mr. Biodun Oyebanji, at the burial of the mother of Ekiti State Deputy Governor, Mrs. Monisade Afuye, Olori Esther Iyalaje Adegboye, in Ikere-Ekiti…recently

Oil Theft: Army Arrests 46 Suspects, Destroys 23 Illegal Refining Sites in N’Delta

Blessing Ibunge in Port Harcourt

In an effort to crackdown on oil theft, pipeline vandalism and associated crimes in the Niger Delta Region, the Nigerian Army, 6 Division arrested 46 alleged oil thieves in the region.

He disclosed that during the operations, 23 illegal refining sites were deactivated and over 30,000 litres of stolen products recovered across the region.

In Biseni Community, Adibawa in Yenagoa Local Government Area (LGA), Bayelsa State, nine big pots, 16 drum pots, four receivers, four drum coolants were said to have been destroyed with over 6,000

According to the Acting Deputy Director, 6 Division Army Public Relation, Danjuma Jonah, the troops of the Division conducted the operations with other security agencies between June 9 and 29, 2025.

litres of stolen crude recovered.

The troops also apprehended two suspected criminals in possession of two locally fabricated pistols with 9mm rounds at Otueke

in Ogbia LGA.

Similarly, in Rivers State, around Kilometer 45 general area in Degema LGA, 6 illegal refining sites were uncovered,

with over 5,000 litres of stolen crude confiscated.

Danjuma also disclosed that at Kula 1 general area in Akuku-Toru LGA, an illegal refining site was

taken out, with four cooking ovens, four receivers, and four drums filled with over 2,500 litres of stolen Automotive Gasoline Oil (AGO) handled appropriately.

Zamfara Murder Case: Victim’s Family Writes Lawal, Demands Justice

John Shiklam in Kaduna

The family of late Lauwali Magaji Yandoto, who was murdered last year, has written to the Governor of Zamfara State, Dauda Lawal, for the prosecution of the suspect, Col. Rabiu Yandoto (rtd).

In a letter to the governor,

a copy of which was made available to journalists yesterday in Kaduna, the family demanded justice for the deceased who was allegedly murdered by Rabiu, the pioneer commander of the state-owned security outfit, Community Protection Guards (CPG).

The letter, which was addressed to the governor and copied to the Attorney-General of the state, was signed by Anas Lauwali Magaji, a representative of the family of the deceased.

According to the family, the retired military officer was arrested in connection with the case and investigated by the Zamfara State Police Command in August 2024. They lamented that despite a prima facie evidence established against the suspect, he was granted bail due to the failure of prosecution by the Office of the Attorney General of the state.

13 Passengers Abducted in Benue Regain Freedom Group Appeals to Lagos Speaker to Help Avert Ban on Single-use Nylon

George Okoh in makurdi

13 passengers on a commercial bus in Benue kidnapped a forthnight ago have regained freedom. The victims were rescued by security operatives yesterday.

The passengers were abducted at Eke in Okpokwu Local Government Area of Benue State.

The Chairman of the Local Government Area, Adah Inalegwu, confirmed the rescue of the abductees.

Inalegwu said that a joint operation by the police and vigilance group in that area led to the rescue of two of the abductees on Saturday.

According to him, youths of the area enlisted the services of those from neighbouring Kogi State, leading to increased pressure, which made the kidnappers abandon

the remaining 11 victims at Orndo village at about 4:00 p.m yesterday.

The local government chairman further said that the provision of logistics by Governor Hyacinth Alia, with improved security surveillance and tracking, led to the rescue of the victims.

The victims are being profiled before they are reunited with their families.

Meanwhile local sources have disclosed that there is an ongoing exchange of gunfire between suspected herdsmen and military personnel near Tse Asha and Ukange villages in Guma Local Government Area of Benue State.

The sources said the confrontation is taking place approximately two kilometers from the Ortese Internally Displaced Persons (IDP) camp.

Ibom Air Rebounds, Posts N16bn Profit

Ayodeji Ake

Akwa Ibom State-owned airline, Ibom Air, has posted an impressive financial performance for the 2024 financial year, reinforcing its track record as the nation’s most preferred carrier and a well-run government business. The performance shows that gross revenue was N96 billion, up by 43 per cent from N67 billion in 2023, while profit before tax (PBT) recorded N16.6 billion, a great recovery a from a N3 billion loss in 2023. Profit after tax(PAT) in 2024 was N6.8 billion in 2024, against an N8.7 net loss in 2023. The loss in 2023 was mainly due to the sharp depreciation of the Naira that year. The financials were announced at Ibom Air’s fifth annual general meeting (AGM) held in Ikot Ekpene, Akwa-Ibom. Although it’s not a publicly quoted company, the airline chose to make its financial performance public

to showcase its strong corporate governance and motivate other state-owned businesses. At the AGM, the airline announced some board changes. Founding Board Chairman, Imoabasi Jacob retired, and was replaced by pioneer Chief Executive Officer (CEO), Captain Mfon Udom, who has vacated the chief executive chair. Udom was replaced by George Uriesi. As is traditional in modern business management, it is expected that the airline will soon appoint a deputy CEO as part of the business continuity plan

According to analysts, this spectacular financial performance clearly shows that a governmentowned business could be profitable if the right things are done. Ibom Air is the first and so far the only airline to be owned and operated by any state government in Nigeria, and in Africa, for that matter. Nigeria Airways, which was owned by the federal government,

Sunday Okobi

A group, Nylon Sellers and Producers Association (NSPA), in Lagos has appealed to the Speaker of the Lagos State House of Assembly, Rt. Hon. Mudasiru Ajayi Obasa, to urge the Ministry of Environment and Water Resources not to ban the

single-use nylon in the state from July 1, 2025.

The group in a letter tagged: ‘Re: Appeal to stop the Ban on Single-Use Nylon’, which was issued by its President, Mrs. Funke Ogunyombo, and Secretary, Alhaji Kamarudeen K.A. Yusuf, called on the Speaker to help avert the ban because “it

will lead to job losses, affecting employees directly and indirectly.”

The letter read: “We are writing to respectfully appeal to you, our leader, to use your good office to solicit on our behalf to urge the Ministry of Environment and Water Resources not to ban the single-use nylon, which has been stipulated and publicised to be banned on July 1, 2025.

“While we understand the concerns that led to this decision, we strongly believe that if the ban were to be effected, it would have significant negative impacts on the social and economic life of your esteemed followers.

Access ARM Pensions Advocates Ways to Boost Civil Servants’ Retirement

Nume Ekeghe

Access ARM Pensions has urged Nigerian civil servants to embrace small but consistent voluntary contributions to their Retirement Savings Accounts (RSAs), describing the habit as a simple and effective way to

build long-term financial security.

The call was made by Executive Director, Technical, Access ARM Pensions, Mr. Afolabi Folayan, during his keynote address at the International Civil Service Conference in Abuja.

Speaking on the theme,

“Building Financial Resilience for the Nigerian Civil Service of the Future,” Folayan emphasised the need to rethink retirement planning beyond statutory deductions.

He said: “We must turn concern into strategy. As leaders of the pension ecosystem, our job is to build a system that is not just safe, but smart. Not just secure, but inclusive. Not just mandatory, but meaningful. Civil servants should be able to top up their pensions anytime, even with just N1,000 from their phones. Over time, compound interest takes care of the rest.”

Otuaro Hails Yar’Adua for Establishing Presidential Amnesty Programme

The Administrator of the Presidential Amnesty Programme(PAP), Dr. Dennis Otuaro, has applauded late President Umaru Musa Yar’Adua for proclaiming amnesty for former agitators of the Niger Delta and also establishing the progamme.

Otuaro spoke at the

second President Umaru Musa Yar’Adua International Leadership Conference and Awards themed, “Electoral Management Institution: Midwife of True Democracy, Development, and Prosperity,” which was organised by the Global Initiative for Leadership Success in Abuja.

Imo Harmony Project Urges

Amby Uneze in owerri

The Owerri Zone leaders of Imo State under the auspices of Imo Harmony Project (IHP), a group strategizing for the full implementation of the Imo State Charter of Equity, has commended the state Governor, Hope

The PAP boss, who received a corporate service award in recognition of his efficient administration of the programme, at the event, noted that Yar’Adua also created the Ministry of Niger Delta Affairs before inaugurating the PAP as part of his response to the civic demands of the region’s people.

Describing him as ‘a selfless leader and a patriot,’he said: Yar’Adua, who governed the country from May 29, 2007, to May 5, 2010, was deeply concerned about the need for guaranteed sustainable peace, stability, and development in the region.”

Uzodimma to Remain Steadfast on Charter of Equity

Uzodimma, on his laudable projects across the state, noting that the contents contained in his recent ‘State-of-the-state address’ were most significant and verifiable.

In a statement signed by the Convener/Chairman of IHP, Capt. Emma Ihenacho, he expressed satisfaction over the

numerous achievements of the Uzodimma’s administration for five years it came on board, and urged the governor not to relent in his wise vision to develop the state.

Ihenacho, a businessman and former Minister of Interior, noted that with the litany of completed projects

and the ongoing ones, skeptics have been proven wrong by the bold and transformative initiatives across different sectors which had continued to earn his administration accolades while renewing the confidents of Imolites in the delivery of dividends of democracy.

HYT Consulting Launches Graduate Training Academy

HYT Consulting has announced the launch of its Graduate Training Academy, a transformative programme designed to enhance the employability of graduates while providing employers with access to a pipeline of job-ready talent.

The Academy addresses a growing concern among employers: the increasing number of job applications from candidates who lack essential workplace skills and experience. Through targeted training and practical development, HYT Consulting is bridging the gap

between academic qualifications and the competencies required in today’s fast-paced professional environments.

Commenting, the Chief Executive Officer at HYT Consulting, Mrs. Folusho Odegbaike, said: “We want to

ensure graduates are not just qualified, but employable. At the same time, we’re helping employers save valuable time and effort by providing a pool of pre-vetted, skilled candidates who are ready to contribute from day one.”

Super Falcons Fire Warnings to Africa with Win over Ghana’s Black Queens

Duro Ikhazuagbe

Super Falcons signaled their readiness to battle for the delayed 2024 Women’s Africa Cup of Nations title last night following their commanding performance against rivals Ghana’s Black Queens in their last warm up game in Morocco.

Chinwendu Ihezuo, Asisat Oshoala and Rasheedat Ajibade fired Falcons into 3-0 lead within 50 minutes of the game before Black Queens managed to pull back one through Alice Kusi with two minutes to end of the game.

The 3-1 victory was a follow up to the goalless draw with Portugal in Lisbon last week and a warning to the rest of Africa of Nigeria’s quest to reclaim the leadership of women’s football in the continent.

For the Ghanaians who  before yesterday began their rebuilding process with back-to-back wins over Malawi (3-1) and Benin Republic (4-2), they thought another win was possible against the Super Falcons. However, the opening half-hour

Gov AbdulRazaq Elated as Kwara Utd End the State’s Six Decades Trophy Drought

Duro Ikhazuagbe and  Hammed Shittu Ilorin

Forty-nine-year after Alyufsalam FC of Ilorin played and lost in the then Challenge Cup final against Rangers International FC of Enugu in 1976, another team from the state, Kwara United on Saturday defeated Abakaliki FC in penalty shootouts to win the President Federation Cup to wipe away the tears of nearly five decades.

The Ilorin team who play in the country’s  top tier NPFL were walking the familiar path of losing yet another Cup final after regulation time ended goalless. But fate smiled on the Afonja Warriors and ensured that they do not walk away from the Mobolaji Johnson Arena, Onikan, Lagos, empty handed again.

In the ensuing shootouts, Kwara United held their nerves and converted four of their five spot-kicks. Abakaliki FC, led by another Cup and League veteran with the old Enugu Rangers, Ifeanyi Onyedika, missed the chance to go into history book with the Ebonyi State team.

A win for Abakaliki would probably have made up for their

tears of dropping out of the NNL into the lower cadre NLO.

And so, Coach Tunde Sanni and his Afonja Warriors ensured that Kwara State has joined the list of states that can boast of winning the famous Challenge Cup now renamed President Federation

Cup for Governor AbdulRahman AbdulRazaq who is himself, a former footballer.

Speaking shortly after the victory for his team last Saturday, Gov AbdulRazaq who also doubles as Chairman of the Nigeria Governor’s Forum(NGF),

saluted the courageous players and coaching crew for making it happen.

“I’m overwhelmed with joy as I joined Harmony Boys of Kwara United this evening (Saturday) to bring home the 2025 President Federation Cup, the first time any team from our state has ever won the prestigious trophy since 1967 when Kwara was created”.

Nigeria Records First Win as Egypt Rules 23rd African Fencing Championships

Nigeria’s women’s epee team celebrated a historic milestone at the 23rd African Fencing Championships, securing their first-ever win in the competition to finish in the top five.

The five-day tournament, hosted at Charterhouse, Lagos, concluded with Egypt emerging as the overall champion, amassing the highest number of gold medals.

After a quarterfinal loss to Algeria, the Nigerian team— comprising Somtochukwu Eribenne, Sara Idongesit, and Adebodunirin Thomas—rallied to end their campaign on a high. In the classification match for fifth

place, they displayed resilience and teamwork to defeat the Benin Republic 45-40, giving the home crowd something to cheer about.

An elated Thomas described the victory as a morale booster: “We are excited to win our first game and also finish in the top five in the event. We worked together as a team, and our coach helped us to put up a good fight against our opponents. This will surely help our confidence going into the next competition.”

Egypt’s Golden Run Continues. Egypt continued its dominance in the men’s team foil, defeating Angola in a one-sided final.

saw both sides trade possession in an evenly contested affair but it was the Nigerian ladies who eventually took control, with forward Ihezuo breaking the deadlock in the 34th minute — her second goal for the national team.

Just before half-time, Oshoala doubled Nigeria’s lead from the penalty spot, calmly converting after a foul inside the box. The goal marked a personal milestone for the former Barcelona ladies striker, her first for Nigeria since

October 2023 and her first for club or country in 2025. Within five minutes of the restart,  Ajibade extended the lead to 3-0 with a confident finish — her third goal in just two appearances, having netted a brace against Cameroon earlier this month.

Despite the late Kusi’s late goal for the Black Queens, the Super Falcons saw out the win comfortably, a morale-boosting result as they turn their focus to their delayed WAFCON 2024 opener against North African heavyweights Tunisia on July 6, 2025.

Abakaliki FC involved in Auto Accident

Less than 24 hours after losing the 2025 President Federation Cup final 4-3 on penalty  shootouts against Kwara United FC in Lagos, Abakaliki FC players were involved in an accident on Sunday on their way back to Ebonyi State.

According to eyewitnesses, the accident which took place on the Ondo State part of the Lagos -Ore- Benin expressway however did not result in any fatality as no life was lost.

A statement on the club’s Facebook page said yesterday

that the accident was caused by brake failure.

“To God be the glory, no injury and no life was lost. On our way back from Lagos after our yesterday’s President Federation Cup finals to Ebonyi State today (29/6/2025) one of our vehicles (official’s bus) failed brake along Ondo express highway and hit a moving truck at the back.

“We thank God, we all are safe and sound,” the club statement assured their fans who are still reeling from their failure to win the Cup final.

...Ibas Pledges N50m to Rivers Angels for Emerging Champions

Blessing Ibunge  in Port Harcourt

The Administrator of  Rivers State, Vice Admiral Ibok-Ete Ibas (rtd), has promised N50million to the state owned team, Rivers Angels Football Club, for emerging champions of the 2025 women’s President Federation Cup.

Rivers Angels defeated Nasarawa Amazons 4-2 on penalty shootouts during the finals at the Mobolaji Johnson Arena in Lagos, on Saturday, to retain the President Federation Cup Women’s title.

Speaking with journalists after the victory, Vice Admiral Ibas, represented by Secretary to the State’s Government, Prof. Ibibia Lucky Worika, expressed joy over the trophy.

“This is absolutely unprecedented. There’s nothing like it. We are proud as Rivers men and women that our girls can put up such a feat and we are proud as a government.

“His Excellency, the Administrator sent me here to encourage the girls at

this final. So I think it’s a wonderful thing. It’s a great feeling, and there are no words to describe it.

“Before the match, I also conveyed His Excellency’s best wishes to the team. I told them that the Rivers State Government is very proud that you are even here in the finals and that if you do your best, you can be absolutely certain that Rivers State Government is going to recognize you.”

The SSG conveyed the Administrator’s promise of N50million to the team, while encouraging the athletes who won medals during the 2024 National Sports Festival to remain coordinated as he maintained that government is working on redeeming the pledge to them.

The Team Manager of Rivers Angels, Mrs Matilda Otuenne, thanked God and noted that the team has been dedicated and hardworking to achieve the feat.  Rivers Angels’ previous triumphs were in 2010, 2011, 2012, 2013, 2014, 2016, 2017, 2018 and 2024.

UNILAG Retains Ecobank National Schools Chess Championship

The University of Lagos Chess Team emerged retained their title at the just concluded Ecobank National Chess Collegiate Championship that was rounded up over the weekend at the Ecobank Pan African Centre, in Lagos.

The tournament provided a platform for undergraduates to demonstrate their analytical and problem-solving skills.

The Akoka team were dominant in the Six-round Swiss pairing thrilling tournament, showcasing their strategic prowess and intellectual might and emerged on top with 26.5 points with a cash prize of N1 million as the team event champion.

The team’s top board player, Okemakinde Toluwanimi, said, “We worked tirelessly as a team, and our dedication paid off. Also, the tournament was an incredible

experience, and I’m proud of our team’s resilience.” The top board player responded with excitement after the closing ceremony.

Nnamdi Azikwe University, Awka, emerged runners up with

points and a

Super Falcons Captain, Rasheedat Ajibade (right) gives a close marking to Alice Kusi of Ghana with another Nigerian defender in action during yesterday’s friendly with the Black Queens in Casablanca, Morocco

L-R: Lagos State Governor Babajide Sanwo-Olu, Captain of Kwara United FC, Kabir Mohammed; Kwara State Governor, AbdulRahman AbdulRazaq and Chairman of the National Sports Commission, Mal. Shehu Dikko at the presentation of the 2025 President Federation Cup trophy to the champion team at the Mobolaji Johnson Arena, Onikan, Lagos… on Saturday

Victorious University of Lagos team in the photo session with representatives of the sponsors and the Nigeria Chess Federation officials last Saturday in Lagos

18.5

cash prize of N500,000 while Obafemi Awolowo (OAU) were in third position with a cash reward of N325,000.

The University of Benin, College of Medicine, University of Ibadan,

Delta State University, Lagos State University, Ojo Campus, Lagos State University of Science and Technology, Triple Chess Academy and Chess in Slums in that order were prize winners as well.

Ilorin Emir, Kwara SWAN join in celebrating Harmony Boys’ victory

NGX CHAIRMAN'S THREE-DAY WORKING VISIT TO DUBAI FINANCIAL MARKET...

MAHMUDJEGA

VIEW FROM THE GALLERY

Four Jumbled Up Matters

Early last week, it looked like the ongoing crisis in the main opposition Peoples Democratic Party [PDP] was going to be the big political story of the week, but it was quickly overshadowed by the list of 110 associations that applied to INEC for registration as political parties. That in turn was overshadowed on Wednesday by the “settlement” of the Rivers crisis that President Bola Tinubu brokered between suspended Governor Simi Fubara and FCT Minister Nyesom Wike. But then, as the week ended on Friday, all of them were overshadowed by the sudden [many newspapers called it “shock”] resignation of ruling All Progressives Congress [APC] National Chairman Abdullahi Umar Ganduje.

The katakata in PDP continued throughout last week and is certain to continue this week. A central issue in it is whether Samuel Anyanwu should return as its national secretary. INEC did not agree to observe PDP’s NEC meeting scheduled for June 30 because only the Chairman, Ambassador Umar Damagum, signed the letter sent to it. A powerful party delegation, made up of Board of Trustees and National Working Committee [NWC] members, several PDP Governors, MPs and members of its Reconciliation committee headed by former Senate President Bukola Saraki met with INEC chiefs. At the end of it, Damagum announced that NEC meeting scheduled for June 30 is converted to an “expanded caucus meeting” and that Anyanwu is restored as national secretary.

Eleven members of PDP’s NWC and several members of its BOT immediately objected to both announcements. At first it looked like by restoring Anyanwu, Damagum, always suspected of being a Wike loyalist, had again caved in to the rambunctious FCT Minister, who insisted on Anyanwu’s return. This thought was however thrown into doubt when Wike publicly criticized Damagum, saying the chairman does not know politics and that he should come to him for training. Which suggested that Damagum may have shifted camps out of Wike’s orbit.

This view was further buttressed by Saraki, who explained on Arise TV that the goal is to preserve PDP as a viable 2027 platform, otherwise every aspirant who is looking to contest under its banner will go away. The three steps to accomplish that, Saraki said, are to restore Anyanwu, so that the national secretary will co-sign the notice to INEC to convene a NEC meeting. Thereafter NEC will authorize a party convention for later this year, which will in turn elect substantive national officials. Saraki did not say so, but at such a convention, if it takes place, the remaining PDP governors and other stalwarts will be able to install officials that will be free of Wike’s stranglehold.

Despite Saraki’s mature explanation, PDP still has other problems, including the steadfast rejection of Anyanwu’s reinstatement by the party’s powerful South East caucus. Before LP temporarily displaced it in the last election, South East had been a steadfast PDP home, and the leaders hope to

regain it before 2027, given the disarray in LP and the likely migration of its supporters to another party.

Katakata continued last week when INEC published a list of 110 political associations that applied to it for registration.

If even one quarter of them succeed in getting registered, then we are in for a very long ballot paper in 2027, which will confuse voters and make room for a lot of spoilt ballot papers. Most attention is focused on name number 109 on the list, All Democratic Alliance [ADA], easily the most potent of the incoming parties. Another party however sought to throw a K-leg in ADA’s move by also filing a name, Advanced Democratic Alliance with the same acronym, ADA.

The battle for a spot near the top of the expectedly long ballot paper raged with many of the associations crafting their names with multiple A’s. They include All Allies Alliance [AAA], All Grassroots Party [AGP], Above All [AA], Allied Conservative Congress [ACC], Accelerated African Development Association [AADA] and Abundance Africa Alliance [AAA]!

One party, Movement of the People [MOP] tries to resurrect the late Afrobeat legend Fela Anikulapo Kuti’s party of the 1970s. It looks from the list like Peter Obi’s Obidient movement has either splintered or is playing games. Two such parties applied for registration: Obidient Peoples Party [OPP] and Progressive Obidients Party, POP. For a change, we may have some left-wing parties coming along, e.g. Socialist Equality Party [SEP] and Party for Socialist Transformation, PST. Peoples Liberation Party [PLP] probably borrowed its name from intended the Peoples Liberation Army of China! Far-Right

Party [FRP] also applied for registration; which political space is there farther to the right of the current arrangement?

Most Nigerians heaved a sigh of relief on Wednesday last week at the announcement that President Tinubu had brokered a settlement of the Rivers State political crisis. People were however asking: what were the terms of the settlement? None were officially revealed, but one newspaper reported that they include ending the State of Emergency; restoring Governor Fubara and the state legislators to their seats; a pledge by Fubara not to seek reelection in 2027; allowing Wike to nominate all the Local Government Chairmen and councilors; Fubara to pay Rivers MPs all their withheld salaries and allowances; and for the MPs in turn to pledge not to impeach him. If indeed these were the terms of the settlement, the first observation is, where were the security issues that necessitated a state of emergency? Did the Constitution envisage such a drastic measure merely because of a political crisis? Then also, if Wike is to nominate Local Government chairmen and councilors, under which party, PDP or APC? And then, will Fubara remain in PDP or will he defect to APC? For, if he remains in PDP and loyally works for it and its 2027 candidates, then sooner or later his politics is bound to clash with Tinubu/Wike’s. So, this settlement get as e be.

Two other items in the settlement are also problematic, for Fubara not to seek reelection and for RVHA not to impeach him. Those two pledges are difficult to enforce. If he remains in PDP, then the party in the state has no better candidate than the incumbent governor and its stalwarts will surely apply pressure on him to contest. If he steps aside, he could still throw his weight behind a PDP candidate he anoints, Wike style, which could resuscitate the political conflict. If that happens, the pro-Wike Assembly faction, assuming they retain their 27-seat majority, could also go back on their pledge and impeach him.

The sudden resignation of APC national chairman Ganduje, which started as a rumour on Friday morning but was later confirmed, eclipsed all other political stories of last week. It quickly added to the suspicion that in this Republic, chairmen of major political parties almost never end well. In PDP alone, acting as well as substantive national chairmen who were shoved aside by Presidents, some at gunpoint, included Solomon Lar, Barnabas Gemade, Audu Ogbeh, “Garrison Commander” Ahmadu Ali, Vincent Ogbulafor, Okwesilieze Nwodo, Bello Haliru Mohammed, Shaba Lafiaji, Bamanga Tukur, “the game changer” Ahmadu Muazu, not to mention Ali Modu Sheriff, Ahmed Makarfi, Uche Secondus and Iyorchia Ayu.

APP/ANPP did no better, its string of party chairmen including Senator Mahmud Waziri, Yusuf Ali and Attahiru Bafarawa all leaving in a cloud, with only Ogbonnaya Onu finishing well when he went into Buhari’s cabinet. In APC’s short history, national chairmen John Oyegun and Adams

Oshiomhole both left in a huff, some governors attempted to overthrow Acting Chairman Mai Mala Buni, while Abdullahi Adamu’s resignation was as sudden as Ganduje’s. Even AD, its earliest chairmen Yusuf Mamman and Jolly Tanko Yusuf both left in a huff.

Just like the Rivers settlement, no official reasons were given for Ganduje’s sudden resignation. It was said he resigned on health grounds, which is suspicious, because on Friday morning he attended an inter-party meeting at INEC but was quiet all through. Some media alleged that it was due to corruption allegations to do with upcoming FCT council elections. That is doubtful, because the Presidency is known to drag its feet in corruption cases involving its allies, e.g. Minister of Humanitarian Affairs Beta Edu, report on whose investigation was never published.

Some pundits said it was to pave the way for Kwankwaso’s entry. That it is the Lagos/Kano/Rivers stratagem, that if APC can get these three huge states in 2027, it is home and dry. Though APC got Rivers in 2023, it lost the other two states. In all Nigeria’s political history, Lagos and Kano voters are the most fiercely independent. Lagos was the only state in Nigeria where NPN did not come either first or second in 1979. Lagos was also the only South Western state that defied PDP’s sweep of all AD states in 2003. While PDP was on a roll in 2003, Kano voters swept out a PDP governor [Kwankwaso, incidentally] and brought in a hardly known school teacher, Ibrahim Shekarau, as governor. Some reports last week said Kwankwaso was in talks with ADA leaders, probably as a ploy to put pressure on Tinubu and APC. Candidate Kwankwaso might have garnered a million votes in 2023, but does that mean he can transfer those votes to Tinubu in 2027? He was personally defeated in Kano in 2003, and his anointed candidate was again defeated in 2007. He was reelected governor by a squeaker in 2011, and his anointed candidate lost again to Ganduje in 2019, however controversially. Besides, APC must reckon with the danger that if Kwankwaso takes full charge of the party in Kano, its current supporters in the state could rebel. There were two other points to ponder in last week’s events. One media report said a security chief went to Ganduje’s house in the dead of night and compelled him to sign a resignation letter. The same thing was done to a Chief Justice of Nigeria in the Buhari days. We shouldn’t make that a habit, to put it mildly. There was also this story that following Ganduje’s resignation, President Tinubu “ordered Ali Bukar Dalori to take over as acting national chairman until APC’s convention” in November. Why was that necessary? Is the party an MDA, subject to the president’s complete direction? APC’s constitution says if the chairman’s seat were to become vacant, the Deputy National Chairman from the same region, in this case Northern Nigeria, should take over in acting capacity. I thought no further directive was needed.

Ganduje

L-R Joel Tilly, AVP, Dubai Financial Market, Ahonsi Unuigbe, Chairman, NGX and Hamed Ahmed Ali, Chief Executive Officer, Dubai Financial Markets during the NGX Chairman's three-day working visit to Dubai Financial Market...recently