SATURDAY 3RD JANUARY 2026

CBN: Rising NPLs’ Threat to Banks’ Profitability, Credit Availability Nume Ekeghe

The Central Bank of Nigeria (CBN) has warned that rising

non-performing loans (NPLs) in the banking industry pose a growing threat to banks’ profitability, credit creation

and overall risk-bearing capacity.

The apex bank gave the warning in its 2026

macroeconomic outlook for Nigeria released recently, titled "Consolidating Macroeconomic Stability

amid Global Uncertainty," which assesses emerging risks to the financial system against the backdrop of domestic

reforms and an uncertain global environment.

Continued on page 5

EFCCTackles Bala Mohammed over Claims Politicians Influencing Investigations, Prosecution...

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Saturday January 3, 2026 Vol 30. No 11227

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Anthony Joshua's Driver Arraigned, Remanded...

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Wike, Fubara Resume Feud, Minister Slams Governor for Allegedly Calling Him ‘Barking Dog’ Gov’s loyalist hands over state PDP structure to minister’s bloc

Blessing Ibunge in Port Harcourt The

long-running

rivalry

between the FCT Minister and former Rivers State Governor, Nyesom Wike and his successor, Siminalayi Fubara flared up

again yesterday, as Wike condemned his political godson for allegedly referring to him as a “barking dog.”

Wike, during a thank-you visit to Ogba/Egbema/Ndoni Local Government Area in Rivers State, once more

challenged Fubara to disclose the promise the Governor made during a peace meeting with President Bola Tinubu.

Addressing his supporters, Wike who once more regretted Continued on page 5

Kwankwaso Considers Joining Atiku, Obi in ADC Yusuf, assembly members decamp to APC Monday Mutfwang defects to ruling party PDP: We are rebuilding, alliance with other parties not ruled out Obi joining ADC is political blockbuster, says party chieftain Chuks Okocha in Abuja, Yemi Kosoko in Jos and Ahmed Sorondinki in Kano As preparations for the 2027 elections gradually gather momentum and following the defection of his Governor, Abba Yusuf, along with most members of the Kano State House of Assembly to the All

Progressives Congress (APC), former Kano State Governor and leader of the New Nigeria People’s Party (NNPP), Alhaji Rabiu Musa Kwankwaso, is weighing the option of teaming up with former Vice President and 2023 presidential candidate of the Peoples Democratic Party Continued on page 5

MUTFWANG JOINS APC...

Governor Caleb Mutfwang (left) displaying his All Progressives Congress (APC) membership card and the State’s APC Chairman, Rufus Bature, as the Governor formally defected to the ruling party at a ceremony held in Jos…yesterday

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SATURDAY JANUARY 3, 2026 • T H I S D AY, T H E S AT U R D AY N E W S PA P E R

PAGE FIVE

INEC Denies Releasing Time Table for 2027 General Election Amupitan: Commission's staff must work to earn public trust

Adedayo Akinwale in Abuja

Activities for the 2027 general election.

The Independent National The Chief Press Secretary to Electoral Commission (INEC) the INEC Chairman, Adedayo yesterday denied reports in Oketola, in a statement some sections of the media described the information claiming that it has released as false and misleading. the Timetable and Schedule of This comes as the Chairman

of the Commission, Prof.

Joash Amupitan, called on staff of the commission to work collectively to build an institution “trusted by all and sundry” and ensure that every eligible voter is empowered and every vote truly counts.

KWANKWASO CONSIDERS JOINING ATIKU, OBI IN ADC (PDP), Atiku Abubakar, and the 2023 Labour Party presidential candidate and former Anambra State governor, Peter Obi, under the African Democratic Congress (ADC).

While his political structure appears to be moving to the APC, Kwankwaso, THISDAY gathered is in talks with the ADC about joining the coalition party along with members of the Kwankwasiyya movement, who are his loyal supporters.

Sources told THISDAY that quiet negotiations are already underway as the politicians explore the possibility of forming a united front ahead of 2027 elections, even as strong indications emerged that the Governor of Kano State, Abba Yusuf, the only NNPP-controlled State is defecting to the APC on Monday.

Governor Yusuf’s planned defection to the APC has reportedly been opposed by Kwankwaso and has sparked sharp disagreement within the Kwankwasiyya movement.

Sources close to the Governor Yusuf disclosed that Vice President, Kashim Shettima; APC National Chairman Yitwalda Nentawe, former governor of the State, Abdullahi Ganduje, along with the state chairman of the party, Abdullahi Abbas, are expected at a brief ceremony on his defection into the ruling party in Abuja.

If the talks between Atiku, Obi and Kwankwaso succeed, it could dramatically reshape opposition politics and alter the country’s political math.

Atiku, Obi and Kwankwaso came second, third and fourth in the 2023 presidential election.

But while the ruling party projects confidence with 28 Governors in its fold currently, an emboldened opposition is quietly rebuilding, betting that public frustration could reset the balance of power.

Obi had on Wednesday defected to ADC with his supporters, opposition leaders and some opposition National Assembly and State Assembly lawmakers.

Obi joins the likes of Atiku, David Mark, Aminu Tambuwal, Emeka Ihedioha, Rauf Aregbesola, Nasir El-Rufai, Rotimi Amaechi, Abubakar Malami, among others, in their quest to win the 2027 elections.

A chieftain of the ADC, Dr. Ladan Salihu, yesterday, said Obi joining the ADC has altered Nigeria’s opposition landscape and has positioned the party as

Oketola, maintained that the electrical body has not released any timetable or schedule of activities for the 2027 general election.

Oketola noted: “The Independent National Electoral Commission (INEC) wishes

to categorically refute reports circulating in some quarters claiming that the Commission has released the Timetable and Schedule of Activities for the 2027 General Election.

“The Commission reiterates that it operates strictly within

the provisions of the law.

“In particular, Section 28(1) of the Electoral Act, 2022 provides that the Commission shall publish a Notice of Election not later than 360 days before the date appointed for a general election.

a formidable challenger to the ruling APC. Also yesterday, the APC further tightened its dominance, as Plateau State Governor, Caleb Mutfwang formally defected to the ruling party.

These emerged as the PDP yesterday said while its immediate concern was to ensure that all legal issues concerning its leadership are addressed, the opposition must agree to work together to defeat the ruling party.

ceremony at the Government House in Jos which was attended by federal and state lawmakers, party leaders, and top government officials, Mutfwang said his decision followed “prayer, consultation, and deep reflection.”

“I have decided to accept the membership of the APC,” he declared to loud applause.

The Governor framed his defection as part of a broader mission to heal longstanding political divisions in the State.

“One of the things I have dreamt about is that Plateau should be united,” he said.

“I don’t care what side we belong to… if indeed you love Plateau, you are my brother.”

Mutfwang reflected on years of political acrimony under successive administrations, noting that divisions persisted

even after he assumed office.

He said he had prayed for reconciliation with former Governor Simon Lalong, adding humorously that he had prayed; “May God cause Governor Lalong to fall into my hands. And today, I have captured you.”

The Governor highlighted the symbolic significance of sitting alongside former political opponents.

“Who would have thought that Hon. Yusuf Gagdi and I would be sitting on the same bench?” he asked. “God is a miracle worker.”

He stressed that members of his former party, the PDP, remain his, “friends and brothers,” insisting that his defection was not an act of hostility.

Mutfwang Defects to APC Mutfwang, yesterday, formally defected to the APC, describing the move as a step toward unifying the state’s fractured political landscape and strengthening Plateau’s voice at the national level.

Speaking at a packed

Continued online

WIKE, FUBARA RESUME FEUD, MINISTER SLAMS GOVERNOR FOR ALLEGEDLY CALLING HIM ‘BARKING DOG’ that his impact in Fubara's emergence as Rivers Governor has caused him so much, insisted that he would not make such mistake come 2027.

The FCT Minister explained: "Let me just say something, somebody said a dog is barking.

This dog that is barking now, barked when Rivers people did not even know who the person was and the dog that barked made the person Governor. It is very unfortunate that the same dog is barking, I wish him good luck.

“We are not talking about party, all of us have decided that we are going to work for Aswaju Bola Ahmed Tinubu.

There is no discussion about that, but as far as the State is concerned we will take decision, and we are not going to do same mistake we made last time. We are here to correct the mistake.

“I heard somebody said

those who worked for Atiku are back, they couldn't do their duty 10 percent, so what is the political advantage. I won't call their names but you all know them. We will do all we can to see that we give Aswaju Bola Ahmed Tinubu all the total support that is required."

He criticised Fubara for failing to allegedly keep his promise at the peace meeting with the presidency.

"Ewor (Factional Chairman of the Peoples Democratic Party (PDP) in Rivers, Dr. Robinson Ewor) had said what he has said here, the same person who sponsored him to go to the failed Ibadan Convention and he constituted Caretaker Committee (CTC), all of them nominated him for the so called CTC. Now the convention had failed, no other place to run to other than 'On your mandate we stand', we have taken that decision a long time ago. So, it

doesn't make sense to us. We have done it.

"Ewor had said as a leader, tell people what you discussed when you went for peace pact.

You think today you can succeed the second one? Whoever that is assuring that when you shout ‘on your mandate.’ you will get the ticket is deceiving you.”

Speaking further, the FCT Minister said: “Somebody who cannot relate with Council Chairmen, even discuss with the Assembly members, somebody who cannot sit down and discuss with National Assembly members, what kind of leadership do you want to provide?"

Wike also tackled his former loyalists now with Fubara but refused to mention his name for calling him a semi illiterate.

He said "Ordinarily, I won't have bothered myself to say this, somebody who was a Senator said the Minister of

FCT is semi illiterate. But the same person dropped out from Rivers State University when he was reading law, he couldn't make it. I went to University of Port Harcourt, finished, went to same university that he went, read law, went to law school and came back and today, I am a life bencher.

"That same man contested for chairmanship of Obio/ Akpor and failed. He sabotaged his party, and they lost at the tribunal. But I contested and won two times and I can show people what I did as chairman, as Minister of State, Education, before I became the Supervising Minister, and when I came as Governor in 2015, the same person was running around me and was signing contracts.

“For eight years, my records are there even as FCT Minister in Abuja. So, in politics when they cannot do what you are doing, they begin to say all

kinds of things, you don't need to bother yourself."

Wike described ONELGA as a “no go area” for anyone other than his supporters, stressing that Rivers people were working in unison for Tinubu devoid of party affiliation.

Former Senator Wilson Aki, thanked Wike for the development interventions in the local government during his tenure as governor of the state, saying that "Before you came in as a governor, we never knew there was infrastructure development in Rivers, you made the changes".

Earlier, Ewor had collapsed his faction into Aaron Chukwemeka- led committee that is being supported by the FCT Minister.

He announced the dissolution of the factional body while making a speech during Wike's “thank you” visit at ONELGA, yesterday.

CBN: RISING NPLS’ THREAT TO BANKS’ PROFITABILITY, CREDIT AVAILABILITY The report showed that the industry’s NPLs ratio stood at an estimated seven per cent relative to the prudential limit of five per cent. The level of NPLs reflected the withdrawal of the regulatory forbearance granted to banks during the COVID-19 pandemic.

According to the CBN, elevated NPL levels could undermine banks’ balance sheets and weaken financial intermediation if not properly contained.

It stated: “Rising NPLs pose a direct threat to banks’

profitability, credit availability, and overall risk-bearing capacity. This underscores the need to sustain measures to ensure that, worsening NPLs do not weaken banks’ balance sheets, impair asset quality, and trigger systemic contagion. Although recent gains in capital adequacy and liquidity ratios provide a buffer, these indicators remain susceptible to unforeseen macroeconomic shocks."

The report noted that a spike in credit losses or renewed foreign exchange illiquidity could erode capital

reserves, breach prudential thresholds and place pressure on liquidity coverage ratios.

“An increase in credit losses or foreign exchange illiquidity could erode capital reserves, breach prudential thresholds, and strain liquidity coverage. These conditions, could disrupt financial intermediation, diminish market confidence, and amplify vulnerabilities across the banking sector,” it added.

The CBN also flagged exchange rate risk as a potential pressure point,

noting that although a sharp depreciation of the naira was considered unlikely under the baseline scenario, such an outcome could significantly impact banks’ balance sheets and liquidity positions. It stated that a sudden currency shock could fuel an expansion in monetary aggregates and stoke inflationary pressures.

It added: “A sharp depreciation in the value of the naira, though unlikely, could impact banks’ balance sheet and liquidity positions, leading to a significant

expansion in monetary aggregates and heightened inflation.

“Despite the bullish momentum, the capital market could face higher concentration risk from the banking sector, as the ongoing recapitalisation could trigger investor fatigue and crowd-out other issuers.”

The apex bank further drew attention to systemic risks arising from the high degree of interconnectedness within the financial system.

According to the CBN, this interconnectedness increases

Ewor, a former loyalist of Fubara, explained that he left the Governor's camp because Fubara could not be trusted.

He said President Tinubu mediated twice to resolve the political crisis in Rivers, alleging that Fubara failed to keep the terms of the agreement.

"Today, I am handing over the chairmanship and leadership of my faction to Aaron Chukwemeka - led caretaker committee.

“PDP is no longer factionalised in Rivers. PDP is under one chairman, and under one leadership, that is the leadership of FCT Minister Nyesom Wike,” he said.

According to the PDP chieftain “If the president mediated twice, that means you (Fubara) cannot be trusted.

Can such a leader be trusted?

We can't trust him.”

Continued online

susceptibility to shocks, including cyber risks, where attacks on financial infrastructure could quickly propagate data breaches, compromise sensitive information and erode public confidence in the system.

“The high degree of interconnectedness among financial institutions creates a systemic susceptibility, where cyberattacks on systems, propagate data breaches that compromise confidential information and erode public confidence in the financial system,” it added.

6 66

T HTITH SHD T HTETHTHISDAY, SEAT UAT RUDU AY N ENW PPA E JANUARY 3, 2026 I SIAY, AT RTHe DD AY ESE WPA SS PA PRE JUNE SDDAY, AY, H ES S R AY N W P •R E SATURDAY R• SATURDAY • SATURDAY MAY14, 10, 2025 SATurDAY NewSpAper •February 3,2025 2024

NEWS

News Editor: Charles Ajunwa 09157401421 (sms only) Email charles.ajunwa@thisdaylive.com

COURTESY VISIT...

STrATeGIC TO SANITISe FXInvestors MArKeT… L-R: Director-General of theALLIANCe Budget Office of the Federation, Tanimu Yakubu; CEO, Impact Foundation, Etemore Glover; Chair of GSG Nigeria Partner and Vice Chair of GSG Impact, Mrs. Ibukun Awosika; Minister of Budget and Economic Planning, Senator Abubakar Bagudu; CEO of GSG Impact, Ms. Elizabeth Boggs Davidsen, and Market Development Manager at GSG Impact, Ms. Atieno Otonglo, at the courtesy the Federal Ministry RAPID DIAGNOSTIC TEST PRODUCTION FACILITY INAUGURATION...

L-R: MinisterTO of Finance and Coordinating Minister of the Economy of Nigeria, Wale Edun; Chairman, Economic and Financial Crimes Commission (EFCC), Ola Olukoyede andvisit thetoGovernor, Central GLAD MEET YOU...

of Budget andand Economic Planning Abuja… recently Bank of Nigeria (CBN), Olayemi Cardoso, in aBabatunde Strategic Alliance to Stimulate the market Abuja…yesterday L-R: Paramount Rulerinof Of Remoland, Ajayi; representative of Minister of Trade and Investment, Dr. Candidate Rabiu Olowo; Ogun State Dapo Abiodun; Group Managing Director, Codic Pharm Ltd,Service Sammy L-R:Akarigbo Deputy Speaker of the House Representatives, Rt. Hon. Benjamin Okezie Kalu andforex Abia State APCin Governorship in 2023, Chief Governor, Ikechi Emenike, during Emenike's family End of Year Thanksgiving

Edo APC, State Govt Trade Words Idris: Nigeria on Path of Economic EFCC Tackles Bala Mohammed over President Tinubu WelcomesClaims New over N9bn Fresh Loan Approval Renewal, Global Respect Politicians Influencing Investigations, Prosecution Qatar Investment Initiatives from

Ogunjimi; Minister of Health and Social Welfare, Prof. Ali Pate Muhammad, and Minister of Education, Dr. Tunji Alausa, during the inauguration of Codix Bio Limited held along the Sagamu-Benin expressway, Ogun State…yesterday at St. John's Methodist Church, Umukabia Okpuala in Ohuhu, Abia State...recently

“In his infertile rambling, Tenebe stupendous as N9 billion for the state Governor, Mr. Godwin has been swindled by Obaseki-led captured.

Umahi sayscommissioner, FG investing trillions in construction of roads Nigeria wild andimprisonment completely off-theObaseki across all sectorsnarrowly of the made fathomtaunts projects which governor, onlyacross "Information atbail the behest of theminister Court admits finance Yakubu Adamu to N500m FCT Bauchi says Mohammed escaped administration with an unassailmembers of the Edo State House of existed in the imagination of state over the past seven years.” mark comments suggesting that

Adibe emenyonu in Benin City

Affirms Nigeria's readiness for strategic partnership

Alex Enumah in Abuja Olawale Ajimotokan inand Abuja and Edo State chapter of theHarcourt All ProBlessing Ibunge Port Harcourt Blessing Ibunge ininPort gressives Congressin(APC), Deji Elumoye Abujayesterday, urged Governor Godwinand Obaseki to Minister of Information National Thesecuring Economic and Financial stop loans, noting that the President Bola Tinubu yesterday Orientation, Mohammed Idris, has said N9 billion loan recently approved Crimes Commission welcomed new initiatives by the country was on Assembly the path (EFCC) towards by the House of was has berated the Governor of Qatari investors to the explore economicand recovery, restating federal needless will plunge state Bauchi State, Bala Mohammed, government’s commitment to restoring opportunities in the agricultural into financial distress. investors’ deepening sector and thatespecially Nigeria for saying politicians, But in confidence aassured swift and reaction, the democratic values. remains open toarestrategic Edo Stateopponents Government saidones it political the This was as his to counterpart, Minister partnerships. was perplexed learn ofagency, what dictating to theUmahi, anti-graft of Works, David has disclosed it termed andgave incredibly The “laughable President the persons totantrums bethe investigated and that the federal is investing ridiculous attributed to assurance atgovernment State House, trillions ofacting naira in the construction prosecuted over corruption the newwhile chairman of the Abuja receiving a special and rehabilitation ofof roads the Edo State chapter APC, allegations. envoy from the Amir of across theJarret State country.

Tenebe where he made baseless This was as Justice Emeka of Idris Qatar, Dr. allegations Mohammed bin reaffirmed this yesterday in and spurious on the Abdulaziz Nwite of aAl-Khulaifi Federal Court an interview with Forbes Africa to fiscal management ofHigh our dear Minister of State for inQatar's Abuja, yesterday granted bail mark the Democracy Day celebration state by the Governor Godwin Foreign Affairs, Dr.Commissioner Al-Khulaifi, Obaseki-led government.” and unbroken 26 years of democratic to the Bauchi State conveyed Amir's strongconference interest in Addressing a press rule in Nigeria. for Finance, Yakubu Adamu, in expanding bilateral yesterday, Tenebe had cooperation, said state He defended President Bolathe Tinubu’s the sum of N500 million with was already suffering a debt announcing that aunder high-level two sureties like sum. profile of N135inbillion and $35.6 Qatari business delegation will billion.

Minister the coming Federal visitAlso, Nigeria in ofthe He said, "While isopportunities a monumenweeks toTerritory exploreit(FCT), Capital Nyesom tal that Edo State patrimony in disaster agriculture, food security, and

able, humongous profile of of brain behind the Economic bold reform agenda,debt which included N135 billion andsubsidies $35.6 billion, andremoval Financial Commission the of Crimes fuel and the the governor is unyielding and Nigeria's readiness to build on the unification of foreign exchange rates (EFFC) recent charges against hisunstoppable insignificant his characteristic momentum generated by his state two of the most policy shifts finance commissioner. design to leave Edo State in ruin, visit to Qatar in 2024, pledging to in Nigeria’s recent economic history. by asking for a facility of N17.5 The commission indecisions aagreements statement implement all difficult bilateral “These were that billion few days ago, which was issued yesterday said it viewed between the countries. had to They caused some said tobe bemade.

N9two billion." "with great displeasure the claims turbulence, but like an aircraft taking He directed the Minister of Tenebe, said "It is important off, we areand now stability.

The Budget Economic Planning, ofstate, Bauchi State Governor, His to that itreaching is now in public World Bank hasBala noted ourthat returnthe to Senator Abubakar Atiku Bagudu; and political space Excellency, Mohammed growth levels not seenState in over a Minister ofCommission Information and fiscal budget of Edo was about the being decade,” Idris told Forbes Africa.the passed few weeks agoMohammed before National Orientation, used

by House political HeState noted this year’s observance Edo of opponents, Assembly Idris; and that Minister of Foreign of the Democracy Day notof just particularly the Minister the proceeded on leave without the Affairs, Ambassador Yusuf warranted celebration, but sober commencement of the execution Federal Capital Territory, Nyesom Maitama Tuggar, to work together reflection the journey ofexecutive. democratic of the budget by thehim Wike, toonpersecute and his to ensure the execution andtimely economic renewal.

Itconsolidation is most disheartening that the of these agreements. aides." explained that funds recovered EdoIdris State Government now is He said, "To theremoval members of While describing the claims as from the fuel subsidy were requesting for aallfacility of N17.5 the delegation, Idirectly want tointo a big being reinvested critical billion withfar-fetched, no corollary ofsay project wild and the EFCC thank you for to Nigeria. attached there toisthe said facility infrastructure projects - including two reiterated that itcoming anGod independent We are tocorridors and alsograteful that the facilityfor iswhat not expansive highway that will agency created to fight economic contained as loan to be in we have experienced astaken partners and financial crimes, adding the 2024 fiscal budget recently in progress.

I am also just glad thatthat the passed. cursory of the the commission isperusal non-partisan Amir ofAQatar greatly remembers entire budget does notits reveal where the discussed during my andissues discharges mandate the project for the facility is ever visit last affection year. without or ill will.

"Let commend the brotherly "Theme attempt to portray it as relations between and a pliable thatQatar panders to Hope” andagency improving the lives of the people of Ondo State. among the youthful population.

“Today, takegovernment yet another bold He saidwethe is step in our ongoing to worried that aboutcommitment 72 per cent improving the youthful welfare ofpopulation our people, of the nation’s ensuring social inclusion and fulfilling have becomeofforeigners the promise Renewed through Hope for the influence of cartoons and Inuwa Yahaya’s commitment Tinubu the support given to the all,” he for declared. movies which are foreign in According to Aiyedatiwa, a total commission and the Humanitarian to cushioning the impact contents, values and across cultures. of 16,the 255Ministry. beneficiaries allthe 18 Affairs of painful loss on Issa-Onilu saidAreas as a in way out Local Government the state He revealed that Nigeria affected families. of thereceive malaise, NOA would will N75, 000plans each, disbursed has concluded to soon host Presiding over the launch a Mobile App containing in monthly installments of N25, 000 global leaders to discuss issues for three months, indigenous cartoons through disbursement of migration anddirectly howexercise itthrough affects their debit cards. which local contents, national yesterday on behalf of the countries under the membership He said theculture total amount injected values and would be governor, the Secretary of the Euro-African Dialogue on into the scheme is N1, 219,125, 000, promoted.

Migration and Development. to the State Government, providing direct economic support According to him, "These variPopularly known as the Rabat Professor Ibrahim Abubakar to thousands of households. ous policies are geared towards Process, the meeting would be The governor recalled thatthe in Njodi, disclosed that an changing the narratives and the first thematic dialogue under November 2024, a total of 8,637 debit initial token of support wrong impression that outside Nigeria’s chairmanship, which cards were distributed to the beneficiaries, had earlier been provided world is having about the is being co-chaired by country Nigeria amounting to N647,775,000, making. to the ofofathe injured and thefamilies Kingdom Spain, and the current phase significant victims immediately afternet. the expansion ofon theyouth, social safety is focusing education “We understand the economic and innovation. incident. indicated thatmany Governor Seyi challenges that of holds our people The meeting, which May He added the Makinde approved thethat suspension face and this programme is a clear 13th 14th, 2025, is2024. expected to governor has also assumed on 1sttoof February, demonstration that the government feature discussions that"I wish would The letter read in part, to full responsibility for the stands with you,” the governor added. guide policy direction, shape inform you that His Excellency, the He further disclosed thatamong efforts medical treatment and cooperative efforts Executive Governor of Oyo State of are ongoing to expand the state’s hospitalinof bills of ofthose who countries origin, transit and Nigeria, exercise the powers social register to accommodate more sustained and are conferred oninjuries him by stressing Sub-section destination, explore inclusive vulnerable households, that 1&2 of Section 26 of the Chiefs policies, stronger cooperation currently receiving care. no vulnerable household should be Law, Cap. 28 Vol I, Laws of Oyo andbehind. sustained dialogue that can left State of Nigeria 2000 and by virtue reshape migration positively. of all other enabling powers in

span over 1,700of kilometres political - aimed the demands Assembly is to thecertain effect that they at unlocking economic activity and were recalled from their holiday interests is therefore mischievous Nigeria.

The Ambassador knows bridging regional divides. or leave

by Qatar the Speaker on the and that Icondemnable. take very seriously.

“The aimthe is not connectivity, request of statejust governor for but economic opportunity,” We are willing to go further "It is derogatory for Mohammed the immediate approval he of said. thein “Nigeria is really retracing its steps. our bilateralwhich relations." to ascribe the commission’s said facility according to Itactivities isThe becoming an to important nation once saidN9 the Qatari them isPresident said be billion in Bauchi State to again the comity of nations. government had demonstrated but asamong event unfolded, after the influence of Mr. Wike.

It is The respect that Nigeria used to have maturity and foresight in working the mammoth request by the important toin state that no political isfor now gradually returning.

Investors opposition the House as to global peace and deserves have more confidence in our country,” office holder is in a position to the rationale for a facility as commendation. he said. the investigative influence activities According to him, "I am proud thepeace statement of the yourCommission," efforts to bring and

Thefor minister reiterated that the trial money laundering at the governor, it was ongoing reforms by discovered the Tinubu that the facility was not even N9 the time he won election as stability to the world.

I see your administration were not just about billion a figure wrapped in governor of Bauchi State.

Only effortsbut in much human economic arithmetic, but billion about secrecy as asdevelopment, N17.5 creating a new foundation for inclusive peace and prosperity.

Like you, the constitutional Immunity from to which the opposition in the growth, we areaccountability, sandwiched between the prosecution, which hissustainable current house rejected andand or refused development. challenge of terrorism and helping to be part of the approval. office attracts, has put that case In another development, who our neighbours.

We areUmahi conscious But in its reaction, the Edo in abeyance.

Who also influenced disclosed this while inspecting of who is yesterday our friend and those State Government stated that the commission toameliorate investigate him the ongoing of federal the Edo APC “obviously helping usconstruction towas the roads in Rivers, Bayelsa and Delta in 2016 and charge him to court? pained by the achievements of problems." states, dismissed the claims trending Arguing further, thealso anti-graft President Tinubu noted agency in the ongoingpointed reformsout to that streamline

online that federal and government access thethe charges “Tenebe has beenprojects on a decide frenzy is concentrating more in the looking for lies to tell since for themselves whether theit Nigeria's tax system, making South than northern areas of the nation. he assumed office as Acting case is borne out of vendetta easier for foreign investors to do Responding to questions from Chairman. Rather than focus journalists who his inspection business in observed the country. or is a product of painstaking on reawakening his completely of the Zarama section of the Westto "We are making efforts investigation bywhich the EFCC. comatose party, isEast unable Road rehabilitation in Bayelsa State, our tax system.

Going toreform provide constructive criticisms "They will satisfaction also understand Umahi expressed with and the by experiences of the past expected ofMohammed a viable opposition, why Bala asDelta the ongoing projects across thehas need to depart from old he resorted toRivers, spreading approving authority in Bauchi and Bayelsa. misinformation in a have desperate ways, our reforms been He said that the tough Bodo-Bonny Road State isImentioned in the charge. attempt tomade curry cheap popularity. hard. decisions construction by Julius Berger wolf issues of so "Crying that wehandled couldover grow.

We are

is about 85 per cent complete projects accountability should Edo"Public State is owing $35 Ahoada billion. handled by Rock Result along Even if that was what was written be the priority of politicians of end of the tunnel."You can't find section of East West Road is atknown 60 per for him, he should have all persuasions.

It is the height a better partner than Nigeria. cent completion, adding that RCC, that the figure is wrong and can't Setraco have follow shownfor commitment in I always global issues of hypocrisy opposition be true. their and your have politicians to debt be You quick toto "Injobs. reality,efforts. our stock is not Addressing the journalists, Umahi more inin Nigeria help fight ado secret and fact, wetoeach are ‘under scream persecution time said, "We havein just inspected thewould work poverty the humanitarian borrowed’.

Emperor Tenebe opposition figure is called to ofan Rock Result have multiple area.

You where have done well in have known this ifwe he understood account but are mute when a concrete culverts over the East West the economicsaofknowledge-based governance, fiscal developing Road failure between Rivers and member of the ruling party faces responsibility and debt-to-GDP ratio. economy in Qatar, but what Bayelsa. the same ordeal. Recently the about Nigeria?", the President

Air Peace Incident: Oshiomhole Violated Aviation Mining Development: Nigeria, US Regulation, AON Alleges, Minister Orders Probe UTME: JAMB Releases Results, Withholds 39,834 Explore Areas of Strategic Partnership terrorism financing likelight clutching gradually seeing is the at the Commission explained. arraigned a ranking read in part. instant case, the facts against at straws. The commission did not member of the ruling party in It added that, "If Bala some officials of Bauchi State invent the law, and where there court for alleged corruption, and Mohammed wants to be honest, government are already placed are offences punishable by extant not a whimper of persecution was he would before the hecourt advised laws, EFCC will in its every heardpassenger from anyhasof athe political told that wouldand not board the would clear the airbe onfailing what really right, your Chinedu Eze have revealed to was Nigerians that he was standing flight members of the public to responsibility to do otherwise. divide. because boarding had closed. happened, since the Senator and the right is limited to what is within the

formalisation of artisanal miners also want to be available part of the Charge d'Affairs, US Embassy, Inunder another development, the airline have made theirmove own ICAO (International Civil Aviation Places 1,426 results scrutiny into cooperatives amongst others. to reduce emissions and put Organisation) David in and his Aerospace office on videos MinisterGreene, of Aviation thatglobal covered the incident. regulation and the "Theindustry. miningThere sector our mining sector on the global Thursday, Alake lauded the United Development, Festus Keyamo, has UAV Okonkwo stated the operators’ aviation is noprovides amount Globacom: how our product can help students excel in JAMB, other exams NAF Loses Link with During Routine veritable avenue for map. We on have critical minerals States’ fostering orderedcommitment that a probetoshould be viewpoint the incident and said ofa any disappointment, if atincreased all, from

lid Operators Minerals ofDevelopment, Airline Nigeria (AON) Dr. hasthedescribed said Dele that byAlake, disrupting operations the United Nigeria’s of Air Peace States when itasdenied him longstanding and strategic boarding for theally Lagos-Abuja flight, partner forinthe nation’s mining former governor of Edo State and Kuni Tyessi Abuja sector development. currently Senator representing Edo Speaking while receiving North Oshiohole, The District, Joint Adams Admissions and violated aviation regulation.

Linus Aleke in Abuja Matriculation Board (JAMB) has Senator Oshiomhole who had officially announced release of 6:30a.m.

LagosAbujathe flight on Air The Nigerian Air Force the 2025 Unified Tertiary Matriculation Peace last Wednesday was denied “We when are has establishing, this Examination (UTME) results.

(NAF) confirmed boarding he arrived at 6:05a.m., year, 37,000 Citizens’ Brigade Following poor performance that it totemporarily lost 25 minutes departure time and inof Primary School. inUTME, each candidates in the1,000 2025 communication with one state, including FCT, Abuja. telecommunications and These digital of its Brigade unmanned Citizens’ are goingaerial tosaid be solutions company, Globacom, vehicles (UAV) during a like Boys’ Scout and Girls’ Guild its Examination Preparatory Service routine operational mission of theEnumah oldenindays. was specifically designed to help Alex Abuja on January 2,Computer-Based 2026 within “Across the in world, Nigerians students excel are toand be the smartest examinations.

The Economic Financial Crimes theknown Operation Fansan Yamma people on3earth. is abriefing positive Commission (EFCC), yesterday, arraigned Speaking at aThis press in Sector area. the Managing Director/Chief Executive development but someof people Abuja yesterday, Registrar JAMB, Officer of SunTrust Bank Halima mischievously tend toLtd, portray Prof. Ishaq Oloyede, revealed that the Buba the bank's Executive Director/ Board withheld the results 39,834 us inand negative light.

Butof this is Chief Compliance Officer, candidates outare of the over 1.9Innocent million not who we as a people.

Mbagwu, before Justice Emeka Nwite applicants that the sat for the exam.

“To change negative narJames Sowole in Abeokuta of the Federal High Court, Abuja for According thesetting JAMB boss, of ratives, we to are upout the alleged fraud. the figure 96 candidates' were Citizens’ Brigade to results produce The Ogun State withheld over exam malpractices, young Nigerians and Police createa Command, yesterday, decrease from 123 into therebuild previous year. positive models the Oloyede said the Board Adeniyi remained arraigned 46-year-old national values." resolute inKayode, its commitment to Mobolaji the driver of Wale Igbintade eliminating formUtility of examination the Lexusany Sport vehicle malpractice, adding that 1,957,000 The of Appeal, Lagos Division, thatCourt conveyed that regard, hasNigerian-British approved your candidates were verified to sit for has discharged and acquitted a boxer, Anthony Joshua, suspension as the Onido ofbefore Idothe in the examDirector while 71,705 were absent. former General of theAccording Sagamu Court. the area of authority of Ido Local Nigerian Maritime toMagistrate him,Administration 2,157 candidates Government Area of Oyo State."

The command’s and Safetyfingerprint Agency (NIMASA), experienced rejections due Itsuspected directed Oba Babalola to hand Patrick Akpobolokemi, ofOluseyi alleged Spokesperson to registration infractions, over all government properties in N754.8 million fraud. aBabaseyi, figure, he made said, was far above thisChairman known his possession todecision the In a unanimous delivered acceptable andavailable currently in Ido a statement made of localmargins government.

Incourt the yesterday, the appellate under investigation. meantime, the state government to journalists in Abeokuta. allowed Akpobolokemi’s appeal, "Avowed total ofto39, 834 results remain has hard atthe anyone, set aside the hit Ikeja unreleased.

Ofruling these, of 1,426 results no matter how highly placed, who contravenes the law.

trade between andinvolved the United that are in commercial demand cooperation with in diverse that conducted on theNigeria incident. passengers have their but any thatNigeria givesalso you any rightin Aiyedatiwa Launches FG's N1.2bn are under scrutiny and processing," Penta M &Amp; Centre 2, rights Tambuwal oneairline of them was States, especially in thebeen area of value globally,"Alake said. sectors of the economy, Spokesman of AONstating and that the airline operations areState. guided by for self-help.

We have talking Operation, Coordinates Response, Recovery Effort Oloyede said.

LGA, Sokoto, Sokoto impersonation. addition, which implies processing The minister partner- about itChairman underscoresofthe significance of the regulations Conditional Cash Transfer in Ondo, Unitedshowed Nigeria and itwelcomed is the responsibility unruly behaviour.

So, what “The 2025 UTME the Oloyede added that 80 suspects The registrar also said that due to of extracted minerals and of setting up ship with the on investments in you smooth bilateral relations between Wike, has slammed the Bauchi Airlines, Obiora Okonkwo, aChief pressof of airlines andUS passengers toby abide saw was a typical case unruly This was asparticular thein the NAF explained that with sister services and prevalence of some types were being interrogated the substandard performance, four centres other critical sectors. factories here.

We would also require the mining value chain, expanding both countries.

Nominates State Governor, Commissioners conference in Lagos yesterday called those regulations.

Itauthorities. is not acceptable. Air of Stafffor (CNS), ViceI by efforts to relevant infractions, suggests police fortechnology theirre-establish involvement inthe the behaviour. had beenfrom delisted and blacklisted for financing multilateral institutions access to in extracting “INaval thankwhich you yoursystemic visit.

President Tinubu NOA DG: FGemphasised toSenator Launch 37,000 Citizens' Brigade Nationwide

Mohammed, forAkure accusing him Fidelis David in Kemi Olaitan in Ibadan The Governor of Ondo State, Lucky Aiyedatiwa, hasNational said his The Director General, administrationAgency will continue Orientation (NOA),to prioritiseLanre socialIssa-Onilu, inclusion has and Mallam economic empowerment of vulnerable announced plans to launch Segun Awofadeji inpartnerships Gombe Tyessi in Abuja citizens through strategic aKuni 37,000 Citizens’ Brigade in with the federal government. primary schools across the country .

Also, Aiyedatiwa has forwarded to The federal government yesterday The Gombe State He made theHouse disclosure while the Ondo State of Assembly a said there are ongoing discussion Government has disbursed speaking with journalists in Ibadanof list of 12 15,000 nominees for the position on how Nigerians stranded during aof working visit totoOyo a total N14 million the commissioners inNiger, the State Executive in Cameroon, Chad and State.

Council forofconfirmation. families journalists other parts ofseven the world would He said 1,000 Brigade The this who lostgovernor their livesmade insafety. a tragic be returned to Citizens’ Nigeria commitment during the of official would beaccident set up in each the motor along the Federal Commissioner, National flag-off ofFederal the second phase 36 statesceremony andfor theRefugees, Capital Commission Migrants Billiri-Kumo Road. of the Conditional Cash national Transfer Tand erritory (FCT) to promote Internally Displaced Persons The crash occurred disbursement to beneficiaries in Ondo values asfatal of Alhaji old, stating that the (NCFRMI), Tijani Ahmed, State, held at the Akure South Local on Monday, December 29, essence of the Brigade was to disclosed thisSecretariat at a mediayesterday. briefing Government 2025, as the journalists were revive and rebuild the national in Abuja.

At the event, Governor Aiyedatiwa values and create positive models returning from the wedding Ahmed revealed that no launched the distribution of the ceremony of colleague in fewer thanHope six amillion people Renewed Debit Cards to Kaltungo thousands ofLocal beneficiaries part were displaced in Government Nigeria,aswhile of the federalofgovernment’s thousands refugees areNational living Area.

Kemi Olaitan inProgramme Ibadan Social Investment (NSIP), elsewhere across the world.

Each bereaved family implemented in collaboration with “We haveState 15,000 Nigeriansfrom who The Oyo Government, yesreceived N2 million the Ondo State Government through want to return to the country terday, suspended Oba Investment Gbolagade Gombe State Government as the National Social voluntarily, and we alsoOnido have Muritala Babalola, as the Programme Agency (NSIPA). financial support to augment not lessinthan 100,000 foreigners of Addressing Ido Ido Local Government the gathering, the burialof and related expenses. living in this country as refugees.

Area the state. governor expressed joy and a deep The government, in a letter The intervention is dated part All these are the responsibilities sense responsibility, noting that 2nd ofof February, 2024 and signed of commission, tostep give them ofthe Governor Muhammadu the initiative is a bold towards by the Commissioner for Local support,” hepromise said. of “Renewed fulfilling the Government andPresident Chieftaincy Ahmed thanked Bola Matters, Hon. Olusegun Olayiwola,

FG to Repatriate 15,000 Gombe Govt Disburses N14m to Nigerians Stranded Abroad Families of 7 Deceased Journalists

on the Federal Airports Authority Admiral Idi Abbas, vulnerabilities or gaps in registration met the US(FAAN) Assistant Secretary of of Nigeria to bring outhas the State forvideo Energy Resources, Geoffrey and examination administration or/ underscored the critical role CCTV of the incident, saying Pyatt, on thevideo sidelines the Mines anditcollaboration monitoring. of joint that is the fromofand FAAN that and“The Money conference in London new trends observed were operations in enhancing past and weand hadExamination a fruitful in theyear, Registration operational efficiency, engagement.

I didwere analyse allinour processes and they mainly the issues, andcategories: fundamentally, we just enabling swift Identity responses following Fraud, want to diversify our economy to security threats, and and Biometric Fraud oftheCombined A statement anti-graft's from oil. Notposted just on for our own strengthening Nigeria’s Thumbprint of Candidate,” he social media handle X, noted that the duo economic survival but alsosaid. to Other he trends said,charge, were were arraigned onglobal a six-count national security architecture. be in tuneinfractions, with for bordering on toWe the impersonators at laundering the point of reduction inmoney global warming.

In a statement yesterday, tune of $12 with million. registration the active involvement defendants according to the of The few CBT centres, double registration, EFCC's statement, however,ofpleaded and attempted substitution self by “not guilty” to all the charges when they candidates. readOloyede to them following the lead thatwhich 244 candidates Kayodeadded who drove the prosecution Rotimi Oyedepo, were caughtcounsel, engaging in “WhatsApp SAN, announced the readiness of the jeep with the number runs,” subscribing to rogue groups plate, KRD HN, was Alex enumah in850 Abuja promising leaked questions. reportedly involved a He said their results had alsoinbeen Justice Bolaji of a Fedwithheld to setOlajuwon a stern fatal accident thatexample. claimed eral Court inJoshua’s Abuja, yesterday, some cases, he said,dismissed the entire theInHigh lives ofapplication two High Courtthe which had dismissed bycentres two syndicates colluded with CBT his no-case submission, and quashed friends, Sina Ghami and Rivers State indigenes challenging to register using multiple fingerprints. the 12-count charge filed against the jurisdiction of and the court try Latif Ayodele left tohim to him, as aFinancial result of himAccording by thealleged Economic and them over complicity in the injured on Monday. this, 3,656Commission “extraneous Crimes (EFCC). burning ofcandidates the Riverswith State House of According the Federal The EFCC accused fingerprints” havetoin had their results Assembly complex Port Harcourt, Road Safety Corps, (FRSC) Akpobolokemi of CBT conspiracy, withheld, and some centres Rivers State. stealing, forgery in connection Chimeand Eguma and Ogun Sector Command, implicated will faceEzebalike sanctions. with illegal transfers from the Prince Lukman Oladele, were identified thewas centres as theHealleged driver who overaccount of thepersons VIMSAS Committee. among five charged with Tigh Technologies Limited, Sascon speeding, wrongfully He wasand originally arraigned with terrorism murder.

The others International School, overtook from theMaitama, right several others, but the charges were are Kenneth Goodluck Kpasa, Osiga Abuja, Wudil Computer Information Donald and Ochueja Thankgod. later amended to include only him Technology.

Kano State and They wereWudil, last week arraigned on a seven-count criminal charge

“AON had had the full brief of communication linkand were examination most and processing minerals and Air Peace on malpractices this incident.

And as mining areas. ofmatter them would prosecuted. unsuccessful, prompting asecuring of fact,beas much as we Throwing light on reforms “The Board has identified the the activation of established appreciate and understand that embarked upon by the federal govpresence of extraneous fingers in emergency procedures. ernment, the minister the registration detailshighlighted of some of Ascandidates. aCommunity result,This theDevelopment UAVconcerns crew revised these raises Agreement (CDA) guidelines initiated return-to-base regarding potential strategies for geared towards reducing friction in protocols, thewith Air Force impersonation. prosecution towhile proceed the trial host communities; on-going plans immediately coordinated l new of 3,656 candidates fall hearing within this and prayed for accelerated of for security architecture to category.

Consequently, the results of the case. natural response and recovery secure resources; efforts the defence J.J. theResponding, candidatesin have beencounsel, withheld.” to generate big geo-data; the measures collaboration Usman, SAN, on on underage his part reminded the Speaking candidates, court of subsistingthat bail following applications the of he explained the defendants, May 27, 2025 and Ministry of dated Education’s decision prayed that the acourt should uphold to enforce minimum age theof applications and admit thegranted defendants 16, an exception was for hand ramming to bail. side thereby “exceptionally gifted” underage The prosecution counsel in histruck. response, into the stationary students.

The spokesperson of41,027 the bordering on terrorism murder.

The registrar said thatand of the Traffic Compliance and Although, they who pleaded not underage candidates registered, guilty to all charges, the judge only 467 metthe the high-performance Enforcement Agency (TRACE) however, ordered that they criteria, onedefendant. disqualified duebe to in Ogun and onewith other remanded atState, the KujeBabatunde Correctional examination malpractice.

At the lower court, Justice Raliatu Akinbiyi, also revealed that Center, pending the hearing of said that the the Board remained Adebiyi had ruled thatpassenger the EFCC their bail application fixed for theHe front tyre on committed toas providing the necessary had established a prima facie case February 2, well as the motion side of the vehicle experienced support for persons with disabilities on some of the counts and ordered of the 1st and defendants aaspiring burst to2nd the excessive Akpobolokemi and his co-defendant todue pursue tertiary education. challenging the jurisdiction of speed and lost control. to open their defence.

He said that for the 2025 UTME, the court to then entertain the suit through his against Babaseyi, however, a Akpobolokemi, total them. of 501 candidates were lawyers Collinsdisclosed Ogbonna and Kunle Ezebalike and Oladele had successfully examined by JAMB yesterday that he Gbolahan, appealed the ruling, argued that by the provisions Equalbeen Opportunity Group (JEOG) has charged to court. arguing thenationwide.

EFCC to of the Terrorism Act, it isfailed only the across 11that centres “The Ogun Police link him to any wrongdoing and Attorney General ofState the Federation According to Oloyede, the results relied onfileinadmissible evidence that any released charge ofbut terrorism are can also being sadly, against them.

Their lawyer, Mr. Lukman

Peace is a respected airline. No matter The Director Public technical deficiencies.

Hethey listed the for our local operators. are providwhat you think aboutWe it,of carry ing for investments like centres Adventure Associate, Behind Relations and Information, 40 toincentives 50as: percent of all the domestic tax waivers mining equipment, Sheshe Supermarket, Kano, Saadatu Nigerian Air Force, Air passengers infor Nigeria. policy of full repatriation ofZaria. profits Rimi College of Education, Commodore Ehimen to home countries On how to checkamongst the UTMEothers," results, Ejodame, the theUAV Alake emphasised.

Oloyede said:said "To check 2025 In his remarks,was the USpart Ambasdeployment of UTME results, candidates should send sador commended the renewed the Service’s sustained by text message “UTMERESULT” as described theNigeria May 27, 2025 bail application interest of in solid minerals, commitment to66019 ongoing one to 55019 or using the ofstressing theword defendants as incompetent, given that the sector has huge same they had used that thephone defendants neither underto counter-insurgency operations potentials tonumber rivalwere the contribution arrest, inthe detention, nor have appeared register the registration process. of oilnortoduring the nation's economy. across country. before court,will being the grounds Resultthe printing be available later." provided by thereacting Administration of Meanwhile, to the poor Criminal Justice of Act,students (ACJA) that should performance in the 2025 precipitate a bail application but rather UTME, the company explained that applied for bail from the comfort of their the Glo Examination Preparatory Command inform homes officeswishes when norto has Serviceortrains students onaction practical been taken against them. the general public that the ways to excel in Computer-Based driver ofSAN, theassubmitted Lexus SUV Fagbemi, that examinations such Joint Admissions the having been filed by involved in the Anthony andcharge Matriculation Board (JAMB), the Inspector General of Police, was Junior and Seniorcase, West African Joshua accident Adeniyi incompetent and asked the court to Examination Council examinations Mobolaji Kayode (male), aged and unreliable witness testimonies, strike out counts 1,3,4,5,6, and 7 of as well ascharged IELTS. including those of PW9, PW10, and 46, was to the Sagamu the charge or strike strike out the Theas 2025 UTME results released PW11, well as Exhibits P59–P61. entire suit for been incompetent.

Magistrate Court today, 2nd byThe JAMB on of May 5 had elicited Court Appeal agreed, Responding, Police lawyer, Mr. January, 2026,” he said. widespread concerns asurged morenot than holding that the appellant was a Simon Lough, SAN, the driver member the VIMSAS Committee; 1.5The million out of 1.9 million candidates court toofdismiss the appeared application before Chief Magistrate and notresults a signatory to any of the whose scored for lacking in were merit.released Committee’s accounts.

According to Lough, besides Jumoke Court below 200. ASomefun, breakdown of the results The further held that he Sections and 66Monday of the Police by on showed 1released on court a 4JAMB four-count charge neither signed nor approved any Acts that empower them to bring that 983,187 candidates (50.29 per cent) bothering on reckless and withdrawal instructions or199, internal the charge against scored between 160the anddefendants, while negligent driving. memos related to the alleged Section 5 and 99 of the Terrorism 488,197 candidates (24.97 per cent) fraudulent transfers.

Act, shows that theand police have scored between powers to also 140 initiate 159. terrorism charges against the defendant.

Alleged Money Laundering: EFCC Arraigns SunTrust Bank CEO, Executive

BurningofDriver RiversAssembly Complex:Remanded CourtDismisses Anthony Joshua's Arraigned, Application Challenging Competence of Charge

Appeal Court Acquits Ex-NIMASA DG Akpobolokemi in N754.8m Fraud Case

Oyo Govt Suspends Monarch in Ibadan

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SATURDAY JANUARY 3, 2026 • T H I S D AY, T H E S AT U R D AY N E W S PA P E R

NEWS

EXTRAORDINARY GENERAL MEETING OF LASACO ASSURANCE...

L–R: Deputy Managing Director, Corporate Services, Lasaco Assurance Plc, Rilwan Oshinusi; Director, Biodun Dosunmu; Company Secretary, Gertrude Olutekunbi; Chairman, Mrs. Teju Phillips; Acting MD/CEO, Ademoye Shobo; Director, Ademola Oshodi; and Director, Fola Tinubu, during the Extraordinary General Meeting of Lasaco Assurance Plc held in Lagos today....yesterday

Fidelity Bank Appoints Onwughalu Chairman as Chike-Obi’s Tenure Ends

Nume Ekeghe

Fidelity Bank Plc yesterday announced the completion of the tenure of Mr. Mustafa ChikeObi as Chairman of its Board of Directors effective December 31, 2025, and the appointment of Mrs. Amaka Onwughalu as the new Chairman.

Onwughalu’s appointment became effective from January 1, 2026.

A statement explained that the board transitions were in alignment with the bank’s policy and have been communicated to the Central Bank of Nigeria, the Nigerian Exchange Group, and other stakeholders.

Under Chike-Obi’s leadership, Fidelity Bank repaid its Eurobond, completed the first tranche of its public offer and rights issue that were oversubscribed by 237 percent and 137.73 percent respectively, expanded internationally to the United Kingdom, and received improved ratings from various agencies amongst a long list of

achievements, the statement disclosed.

“His tenure also saw the bank strengthen its capital position, record steady growth in customer deposits and total assets, deepen its digital banking capabilities, and enhance its corporate and investment banking proposition.

“The bank equally made notable progress in governance, risk management, and operational efficiency, all of which contributed to strengthened market confidence and the Bank’s sustained upward performance trajectory,” it added.

Reflecting on his tenure, Chike-Obi was quoted to have said, “It has been a privilege to serve as Chairman of Fidelity Bank. The dedication of our Board, management, and staff has enabled us to reach significant milestones. I am confident that the Bank will continue to thrive and deliver value to all stakeholders.”

It pointed out that Onwughalu’s appointment

Northern Senators, Almakura, Jibrin Mourn Akwashiki Sunday Aborisade in Abuja and Adedayo Adejobi in Lagos

The Northern Senators Forum (NSF) yesterday mourned the death of the Senator representing Nasarawa North Senatorial District, Godiya Akwashiki, describing his passing as a major blow to the legislature and a profound loss to his constituents.

Equally, a former Governor of Nasarawa State and former Senator representing Nasarawa South, Senator Tanko AlMakura, expressed sorrow over Akwashiki’s death, describing it as a monumental loss to Nasarawa State and Nigeria’s democratic journey.

Also, Deputy President Senator Barau Jibrin, described

him as a “parliamentarian par excellence”.

Akwashiki, a serving senator in the current 10th National Assembly, died on Wednesday, December 31, 2025, at the age of 52, in an Indian hospital after a protracted illness.

His death was confirmed by a family source in Nasarawa Eggon, who said the lawmaker’s passing had created a huge vacuum in the political and developmental landscape of Nasarawa North.

In a statement signed by its Chairman, Senator Abdulaziz Musa Yar’adua, the NSF said it was deeply saddened by the exit of what it described as a consummate parliamentarian and dedicated public servant.

marks a new chapter for Fidelity Bank. She joined the Board in December 2020 and has chaired key committees.

With over 30 years of banking experience, including executive roles at Mainstreet Bank Limited and Skye Bank Plc. She holds degrees in

Economics, Corporate Governance, and Business Administration, and has attended executive programmes at global institutions. Mrs. Onwughalu is a Fellow of several professional bodies and has received awards for accountability and financial management.

“I am honoured to lead the Board of Fidelity Bank at this exciting time. Our recent achievements have set a strong foundation for continued growth.

I look forward to working with my colleagues to drive our strategy and deliver sustainable value,” she said.

Onwughalu

Rivers Executive Council Approves N1.8trn 2026 Appropriation Bill Don’t let us down, Fubara charges new special advisers

Blessing Ibunge in Port Harcourt

The Rivers State Executive Council yesterday approved a proposed budget of N1,854,248,734,475.76 for the 2026 fiscal year.

The approval was granted at the State Executive Council meeting.

Speaking to journalists after the meeting, the newly swornin Special Adviser to the State Governor on Economic Matters and Social Development, Prof.

Peter Medee, said the budget was designed to enable the state to complete and advance key projects in critical sectors.

The proposed budget has as its theme: “Budget of Resilience for Growth and Development.”

Meanwhile, Rivers State Governor, Siminalayi Fubara, has urged his newly appointed Special Advisers to justify the trust placed in them, warning that the expectations of the people must not be disappointed.

He also reaffirmed his administration’s resolve to move forward decisively and recover lost ground, noting that his government has the resilience required to deliver on its mandate.

He also charged the newly appointed Special Advisers to work collectively and remain committed to the vision of his administration in order to deliver effective and people-centred governance in the state.

Fubara gave the charge

at Government House, Port Harcourt, yesterday, after administering the oath of office to the five advisers.

Those sworn in were Mr. Eloka Tasie-Amadi, Medee, Emmanuel Fubara, Victor Ekaro and Dr. Darlington Orji.

Fubara said the appointments were deliberately made to strengthen teamwork within government and to ensure that the machinery of governance continues to function smoothly and efficiently.

Loans in Budget Are from Past Administrations, Kaduna Govt Explains

John Shiklam in Kaduna

Kaduna State Commissioner of Planning and Budget, Mutktar Ahmed Monrovia, said Governor Uba Sani since assumption of office has not taken any loan, saying that the 2026 state budget will be financed without borrowing.

In a statement the commissioner said the N985.9 billion budget will be financed by the state’s statutory allocations, Internally Generated Revenue (IGR) and grants.

He explained that the loans draw down component of the budget has been misunderstood by a section of the media.

According to Moronvia, previous administrations had collected loans, and the state is drawing down from them, adding that no new loans have been collected by the governor.

The commissioner said, “terminating the loan agreements prematurely will lead to penalties higher than

the cost of interest repayments on servicing the loans.

“Despite immense financial pressures, the administration of Malam Uba Sani, has continued to service the loan commitments for both principal and accrued interest negotiated and taken by the previous administration.

Suspected Kidnappers Demand N450m Ransom for Release of Traditional Ruler, Son, Others in Kwara his son have demanded N450 to see the monarch and his his son, while the local Hammed Shittu in Ilorin Suspected kidnappers that kidnapped the traditional ruler of Aafin community in the Ile Ere district of Ifelodun Local Government Area of Kwara State, His Royal Highness, Oba Simeon Olaonipekun and

million ransom for their release.

The traditional ruler and his son were reportedly kidnapped by eight bandits on the 31st December 2025 around 8.00p.m. in his palace.

“They broke down the doors with their guns and demanded

wife,” a family source said.

During the attack, the monarch’s wife, Felicia Olaonipekun, was shot in the arm and later taken to a hospital for treatment.

The attackers subsequently abducted the monarch and

vigilante group was reportedly overwhelmed.

According to sources, only two vigilante members were on duty at the time of the attack and were unable to confront the heavily armed assailants.

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T H I S D AY, T H E S AT U R D AY N E W S PA P E R • SATURDAY JANUARY 3, 2026

NEWS

AWARD WELL DESERVED...

L-R: General Secretary, Oru Vanguard Imo Poly Chapter, Dr. C. Mbaeri; Chairman, Dr. Theodore Okafor, and Special Adviser to the Governor of Imo State on Education Intervention Programs, Mrs. Esther Ukachukwu, during the presentation of Award of Excellence and appointment of Ukachukwu by the association as their matron at a ceremony held in Imo State…yesterday

Deputy Speaker, Kalu Advocates Honesty, Integrity in Politics Emmanuel Ugwu-Nwogo in Enugu

Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Kalu, has said that politics should be played with ethics and moral principles in order to serve the masses better without deceits.

He stated this at the annual family thanksgiving of High Chief Ikechi Emenike, the Abia State 2023 governorship candidate of the All Progressives Congress (APC), held at St. John Methodist Church Umukabia Okpuala in Umuahia North Local Government Area of the state.

Kalu, who represents Bende federal constituency in the National Assembly, said that he has come to know Emenike as a different kind of politician with high principles and moral

rectitude.

"I've met many people in politics but I have met a man who is different. He is High Chief Ikechi Emenike. I met a man who is honest and gives you his word," he said.

To buttress his assessment of the politician he holds in very high esteem, Kalu recalled his experience in 2023 when he was seeking a second term ticket and all hope seemed lost.

According to him, it was Emenike that came to his rescue by giving him the second term ticket without any conditionality and which eventually led to his emergence as the Deputy Speaker of the House of Representatives.

Kalu noted the party structure was firmly in Emenike's hands in 2023 and "he gave me ticket without giving conditions, without taking any gift whether

Adeleke Hails Osun's 100% Score in Fiscal Transparency Report Yinka Kolawole in Osogbo Osun State Governor, Ademola Adeleke, has described the recently released 3rd Quarter Fiscal Transparency Report as a validation of his administration's commitment to transparency and accountability in public governance contrary to baseless allegations from the opposition.

In the report just released by BudgIT Nigeria, Osun scored 100 per cent alongside 10 other states in the 2025 Third Quarter Fiscal Transparency report by BudgIT. According to the governor, this is the highest performance Osun State has achieved so far in more than a decade, declaring that “this is a fantastic New Year Gift for the good people of Osun State.

“We run a transparent, due process administration. Across the sectors, our budgetary

process receives accolades and applause. Osun State has once again distinguished itself on the national stage, emerging as one of only 11 states to score a perfect 100 per cent rating in the Q3 2025 Fiscal Transparency League Table.

“The latest report has shamed the opposition again and affirmed that Osun in the last three years has been excellently managed going by national and global standards and going by positive ratings from observers, citizens and residents of the state.

“This ranking, which assesses states on the availability, timeliness, and completeness of key public finance documents, the functionality of e-procurement portals, and the accessibility of fiscal data repositories, underscores Osun’s strong commitment to open governance.

in cash or in kind."

"I've tasted and I've seen that the Lord is good through him (Emenike)," he said, adding that he would never allow anybody to speak ill of or even scratch the man he referred to as "our

leader and our big brother".

Meanwhile, Abia APC has continued to solidify the walls of its newfound unity having effectively ended factionalisation in its ranks.

Addressing party members

after the thanksgiving service, Emenike stressed the need for the Abia APC family to close ranks and work towards the 2027 general election with unity of purpose.

He told the over 2,000 party

faithful comprising wards and local governments leaders that the party could not afford to lose the Abia governorship election again given its numerical strength and calibre of politicians in its fold.

ADC to Keyamo: Don’t Mock Atiku While Hiding Muslim–Muslim Ticket Chuks Okocha in Abuja

The African Democratic Congress (ADC) has rejected claims that it is afraid to zone its presidential ticket, describing the allegation as false and misleading.

The party’s National Publicity Secretary, Bolaji Abdullahi, was reacting to comments made by the Minister of Aviation and Aerospace Development, Festus Keyamo, who accused

the ADC of avoiding zoning because, according to him, the party belongs to former Vice President Atiku Abubakar.

In a post on X, Keyamo had alleged that the ADC was deliberately silent on zoning its presidential ticket, unlike other major political parties.

He said, “The ADC is scared to clearly ZONE its Presidential ticket, like the other major parties (PDP and APC) have done, because the

party belongs to one man called Atiku Abubakar @atiku.Politics “It is the EXACT corner that Atiku pushed PDP to in 2023 that ADC now finds itself – the inability to zone its Presidential ticket.”

However, responding in a statement, Abdullahi dismissed Keyamo’s position, insisting that it was incorrect and lacked historical honesty.

He argued that the All

Progressives Congress (APC), where Keyamo belongs, has repeatedly ignored zoning principles when it suited its political interests.

He recalled several instances where the APC failed to respect zoning arrangements, including the emergence of its presidential candidate in 2014, the contest for Senate President in 2015, and the adoption of a Muslim-Muslim presidential ticket in 2023.

Adighije: APC Isn’t Seeking a One-Party State, Says Tinubu On Right Track Boniface Okoro in Umuahia

A chieftain of the All Progressives Congress (APC), Senator Chris Adighije, has said that the party was opposed to a one-party system, allaying fears of imminent one-party state in Nigeria sparked by defections of many opposition governors to the ruling party at the centre.

Adighije also dismissed allegations that President

Tinubu or the APC was engineering the current wave of defections to the party, but attributed the development to President Tinubu's "deft political engineering," rather than coercion.

“The President, Bola Ahmed Tinubu, seems to know Nigeria better than all of us and he is going in the right direction,” said Adighije who represented Abia Central Senatorial zone in the Senate from 2003 to 2007.

Responding to a question during an interview with THISDAY on the prospects of the current wave of defections by opposition members to APC, particularly governors, turning Nigeria to a one-party country, the octogenarian maintained that defections were nothing new in politics, saying that fears of a one party-state was unfounded as APC, as a political party, was democratic and would

continue to welcome others to join.

“We are a democratic political party. We always believe in giving an opportunity for opposition. There is no way Nigeria will be a one-party country,” he declared, adding: “But if all the people decide to belong to one-party, who are we to say no. In the words of President Bola Tinubu, you cannot ask a man who is in the sinking ship not to jump out.

Family, Foundation Mark Second Anniversary of Annie Okonkwo’s Passing David-Chyddy Eleke in Awka

Members of Okonkwo family of Ojoto in Idemili South Local Government Area of Anambra State, officials

of The Annie Okonkwo Foundation and other friends of the family yesterday held a solemn mass to celebrate late Senator Annie Okonkwo.

The late senator who represented Anambra Central

Senatorial Zone died in 2023 after what was described as a brief illness.

His family was led by his widow, Lady Chinyere Okonkwo and his son, Hon. Uchenna Okonkwo, who

is also a member of the House of Representatives in thanksgiving, praising the late lawmaker, who they described as very kind and philanthropic during his days.

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SATURDAY JANUARY 3, 2026 • T H I S D AY, T H E S AT U R D AY N E W S PA P E R

NEWS

NIEEE’S HANDOVER CEREMONY...

L-R: Past Presidents, Nigerian Institute of Electrical and Electronic Engineers (NIEEE), Engr. Kings Adeyemi, Engr. John Funso-Adebayo, Engr. Felix Adegboye; Outgoing President, Engr. Felix Olu, and 22nd Vice President, Engr.

Atinuke Owolabi, during NIEEE’s handover ceremony held in Abuja... recently KINGSLEY ADEBOYE

Alleged N9bn Fraud: Ex-AGF, Malami, Son, Wife Know Fate on Bail Jan. 7

Alex Enumah in Abuja

Justice Emeka Nwite of a Federal High Court in Abuja, yesterday, adjourned till January 7, to announce his decision on the bail applications brought by the immediate past Attorney

General of the Federation (AGF) and Minister of Justice, Abubakar Malami, SAN, his son, Abdulaziz Malami, and one of Malami's wives, Hajia Asabe Bashir.

The defendants, Malami, Abdulaziz, and Bashir, are to remain at the Kuje Correctional

Centre, pending the ruling in the bail applications.

The Economic and Financial Crimes Commission (EFCC), had last week arraigned the trio on a 16-count criminal charge bordering on money laundering.

Though they had

pleaded not guilty to all the charges but, efforts by their lawyers led by Chief Joseph Daudu, SAN, to move an oral argument on the bail applications did not succeed, thereby leading to adjournment of the bail application to January 2, 2026.

Okoya Offers Free Cancer Screening to Mark 86th Birthday Bennett Oghifo

Residents of Ajah and surrounding communities are set to benefit from a one-week free medical outreach planned in commemoration of the 86th birthday of a Nigerian industrialist, philanthropist, and Chairman of the Eleganza Group of Companies, Chief Razaq Akanni Okoya.

The initiative, tagged Okoya @ 86 Medical Outreach, will

be delivered as part of the business mogul’s commitment to community development, healthcare delivery, and humanitarian service.

The outreach is expected to benefit over 1,000 residents and will offer a comprehensive range of medical services.

These include general medical consultations, blood pressure monitoring, blood sugar checks, HIV testing, eye screening with provision

of corrective glasses where required, dental checks, breast and prostate cancer screening, wellness guidance, health education, and medical referrals.

Beneficiaries will also receive free medications and gain valuable insight into their overall health status.

The outreach will run from Monday, January 5 to Monday, January 12, 2026, between 9:00a.m. and 4:00p.m. daily, at

Oluwaninsola Estate, opposite Eleganza Bus Stop, along the Lekki–Ajah Expressway, Lagos.

Speaking on the initiative, in celebration of his birthday, Okoya, the man behind the renowned Eleganza products, described the outreach as his personal way of giving back to the host communities of his businesses and residence, while emphasising the importance of accessible and quality healthcare.

Omokri Tackles Peter Obi Over Criticism of New Tax Laws Sunday Ehigiator Former presidential aide and Ambassador-designate, Reno Omokri, has taken a swipe at former Anambra State Governor and 2023 Labour Party presidential candidate, Peter Obi, over his criticism of the newly signed Tax Reform Act, accusing him of hypocrisy and historical revisionism.

Omokri’s reaction followed Obi’s public comments faulting the tax reforms introduced by the Bola Tinubu administration, which came into effect on January 1, 2026.

In a statement released yesterday, Omokri argued that Obi lacked the moral authority to criticise the new tax regime, citing what he described as Obi’s own

record of “taxing poverty” while in office as Anambra governor.

According to Omokri, poverty levels in Anambra State rose significantly during Obi’s tenure.

He cited figures indicating that the state’s poverty rate increased from 41.4 per cent in 2003 to 53.7 per cent by 2009, representing a nearly 30 per cent rise under the

last week deployed 16 GPS-guided precision munitions, with MQ-9 Reaper from unmanned aerial platforms that was launched from maritime platforms domiciled in the Gulf of Guinea against elements of Islamic State

(ISIS) attempting to penetrate Nigeria from the Sahel corridor.

Some of the debris fell in Offa, Kwara State. Videos surfaced on the internet yesterday were some residents were moving some of the unexploded ordinance

the defendants are being prosecuted is bailable, adding that the EFCC had earlier granted them administrative bail.

However, EFCC's lawyer, Emmanuel Iheanacho, SAN, urged the court to decline the application on grounds that the defendants are capable of interfering with witnesses and evidence.

Popoola Identifies Leadership as Bane of Nigeria’s Development, Unveils Grace Rock Church Founder and Lead Pastor of The Grace Rock Church, Pastor Ebenezer Olufunso Popoola, has identified leadership development as the missing link in Nigeria’s quest for sustainable national growth.

Popoola spoke in Lagos, recently, during the formal inauguration of The Grace Rock Church, where he stressed that Christianity should move beyond routine worship to value-driven leadership formation capable of impacting society.

He added that the church must take deliberate responsibility

former governor’s watch.

Despite this increase, Omokri said Obi introduced new and heavier taxes on traders across the state.

He recalled that on June 11, 2013, traders at Eke Awka Market staged protests against the levies, accusing the government of imposing unbearable Mrs Veronica Agbonma financial burdens on small- Eziamakan (Nee Okeke scale business owners.

Nwangbor) will on January 10, 2026, be laid to rest.

The deceased, popularly known as Ododo Nwuyeze died at 94.

In a funeral card titled, "Celebration of life" which was made available by the family from the sites. through Chief IG Eziamaka, But the Director of Defence states: “With gratitude to Media Operations, Michael Almighty God for a life well Onoja, yesterday said: “We spent, Mrs Veronica Agbonma do not expect civilians to pick Eziamaka up or keep such materials.

(Ododo Nwuyeze) Nee Okeke we can only appeal to them Nwangbor will get a final farewell to return all materials that on January 10, 2026.” may prove harmful to them.”

Her final farewell begins

Army Warns Residents: Don’t Touch Unexploded Ordnance from US Airstrikes The Nigerian Army has warned Nigerians against picking or keeping unexploded ordnance from the sites hit during joint United States airstrikes in Sokoto state.

The U.S and Nigerian security personnel had

At yesterday's proceedings, Daudu who argued on behalf of the three defendants urged the court to release his clients on bail to enable them adequately defend themselves against the charge.

Besides, the senior lawyer who noted that bail is at the discretion of the court, stated that the offence with which

for raising men and women of character and influence.

According to him, leadership is often wrongly confined to political office or official authority, rather than seen as a life skill that should shape behaviour in every sphere of society.

“There can never be development without leadership.

As a matter of fact, it is leadership first, then development. A major part of Nigeria’s socio-economic challenges is linked to the quality of leadership in both public and private life.”

Mrs Veronica Eziamaka Funeral Holds Jan. 10 with a funeral mass at the St. Theresa's Catholic Church Ifiteani Enugwu-Ukwu in Njikoka Local Government Area of Anambra State on Saturday January 10, 2026. ​ Reception will follow immediately at St. Theresa's Catholic Church field immediately after the funeral mass.

Mrs Veronica Eziamaka

10

saturDAY, JANUARY 3, 2026 • T H I S D AY

SATURDAY, JANUARY 3 , 2026 • T H I S D AY

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T H I S D AY, T H E S AT U R D AY N E W S PA P E R • SATURDAY JANUARY 3, 2026

NEWS XTRA

Kwankwaso, Gov. Yusuf Supporters in Legal Tussle over NNPP Leadership Ahmad Sorondinki in Kano

Barely five days after reports emerged on Kano State Governor, Abba Kabir Yusuf's alleged plan to join the All Progressives Congress (APC), a heated row has erupted between supporters of the New Nigeria Peoples Party

(NNPP) leader, Dr. Rabiu Musa Kwankwaso and those loyal to the Governor with both factions clashing over the party’s chairmanship.

The Kwankwasiyya members of the NNPP have been sharply divided into two factions, with Governor Yusuf's supporters hell-bent

PTAD Disburses N55.9bn in Monthly Pensions, Outstanding Arrears to Retirees, Others James Emejo in Abuja

The Executive Secretary/ Chief Executive, Pension Transitional Arrangement Directorate (PTAD), Tolulope Odunaiya, yesterday disclosed that a total of N55.9 billion had been disbursed as monthly pensions and arrears to eligible pensioners and next-of-kins of deceased

CHANGE OF NAME

I formerly known and addressed as TORIOLA FUNMILOLA ABIGEAL, and my name was misquoted on my Wema Bank Account as OLANIYI FUNMILOLA ABIGEAL now wish to be known and addressed as TORIOLA FUNMILOLA ABIGEAL. All former documents remain valid. The general public should please take note.

pensioners under the Defined Benefits Scheme (DBS) in December 2025.

Odunaiya, said the payment covered N13.41 billion as monthly pensions across all operations pension departments, including diaspora pensioners, while N42.50 billion was paid as pension arrears.

The arrears payment covered outstanding obligations arising from the N32,000 pension increment, as well as the 10.66 per cent and 12.95 per cent pension increments, in addition to other accrued pension arrears, gratuity, and death benefits owed to eligible beneficiaries.

on decamping to the APC, while the party’s leader has opted to remain in the NNPP. Yusuf's supporters, including his Director of Protocol at Government House, Alhaji Abdullahi Rogo, were seen in a video clip, and some local government chairmen in their domain, urging Kwankwaso and Yusuf to defect to the ruling APC.

They argued that if the Governor remained in NNPP, he may not realise his secondterm ambition come 2027, an opinion that didn't sit well with Kwankwaso, and the party’s Chairman, Hashimu Dungurawa.

Shortly after the party’s Chairman had addressed a press conference and had described the Governor's

alleged attempt to join APC as betrayal, Yusuf's supporters in the Chairman's Cigari ward in Dawakin Tofa local government had announced his removal as chairman.

He had said: "Information reaching us indicated certain elements in NNPP are hellbent on leaving our party, but I would like to make it categorically clear that our

party and our national leader, Dr. Rabiu Musa Kwankwaso, have no hand in what's going on."

However, Governor Yusuf's supporters had quickly appointed and announced Abdullahi Zubairu Abiya as the acting chairman of the party, despite the national NNPP's rejection and disapproval of Abiya.

Sanwo-Olu Directs Demolition of Fire-ravaged GNI Building Lagos State Governor Babajide Sanwo-Olu has directed the immediate demolition of the GNI building in Lagos Island, following the fire incident, citing safety concerns for residents and businesses around the site.

In a post on X, Sanwo-Olu

disclosed that eight people lost their lives in the fire, with five victims identified and three still unidentified.

So far, a total of 13 persons have been rescued.

The Governor said: “No business or unauthorised activity should be taking

place there. The area remains unsafe, and only first responders are permitted on the site. Emergency teams continue to work carefully through the rubble, particularly at the rear of the building, to ensure no one remains trapped.

“Following a full structural review, the GNI building will be demolished using the safest possible methods.

Some surrounding buildings must also be removed. While these are difficult decisions, we must prioritize the safety of lives above all else.”

Resident Doctors Issue Fresh Strike Threat

Onyebuchi Ezigbo in Abuja

Resident doctors have said they would proceed on a nationwide strike if the federal government fails to implement agreement reached with them.

The doctors under the

aegis of Nigeria Association of Resident Doctors (NARD) held a virtual meeting of it's National Executive Council yesterday, where they deliberated on way forward.

The resident doctors' action followed the expiration of the deadline they gave for

the implementation of the agreement with federal government.

THISDAY learnt from sources at the meeting that the doctors were vehement in their position, accusing government of delaying the execution of the Memorandum

of Understanding entered by both parties.

The association said yesterday marked the second day after the expiration of the deadline given to the federal government to implement the memorandum of understanding.

River Park Estate: AGF directs termination of charges against Ghanaian investors, Sam Jonah and 4 others

T

ORDERS INVESTIGATION OF ODILI residents of the River Park Estate."

he Attorney General of the Federation and Minister of Justice Lateef Fagbemi (SAN) has cleared Ghanaian investors and their Nigerian lawyer of any wrongdoing in connection with the ownership of the River Park Estate, Abuja and directed an end to all intimidation of the investors and subscribers of the estate.

On the unlawful expropration of shares, the Attorney General of the Federation directed the CAC to immediately rescind all administrative measures taken on the basis of the now discredited report of the IGP Monitoring Unit of the Nigerian Police Force, and "to refrain from taking any action that would undermine the authority and integrity of the courts."

In a special report signed by the Director of Public Prosecutions of the Federation, Mohammed Baba Abubakar dated December 30, 2025, the Attorney General said the release followed the completion of a comprehensive review of the case files and investigation conducted by the Nigeria Police in the allegations against the investors.

The Ghanaian investors are Samuel Esson Jonah, Kojo Ansah Mensah, Victor Quanoo, their Nigerian lawyer, Abu Arome Esq. The Attorney General's report followed a petition by the CEO of JonahCapital Nigeria and Houses for Africa, Kojo Ansah Mensah dated May 7, 2025 with other referenced correspondences, which prompted the AGF's inquiry involving all interested parties and the police.

Consequently, the Attorney General of the Federation and Minister of Justice, through the DPP, dismissed the allegations of forgery, fraudulent activities and other offences against the Ghanaian investors and their lawyer, which was the basis for the unlawful expropriation of their shares to former shareholders of the company by the Corporate Affairs Commission (CAC).

Continuing, the AGF's report states: "a) That no prima facie case of forgery, and other related offences as contained in Charge No: CRJ402/25 has been established against the aforementioned individuals namely, Mr Samuel Esson Jonah, Mr Kojo Ansah Mensah, Mr Victor Quainoo and Mr Abu Arome Esq. "b) That the investigation and findings by the 'Special Investigation Panel on Petitions relating to Houses for Africa Nigeria Limited, Jonah Capital Nigeria Limited and River Park Estate Lugbe' dated 28th March 2025, is valid, comprehensive, unbiased, and is thus affirmed. "c) That the investigation and findings by the IGP Monitoring Unit (led by Akin Fakorede) were highly misleading, disregarding the burden and standard of proof necessary to establish criminal liability, and inappropriately attempted to characterize a commercial disagreement involving ownership, shareholdings and contractual obligations as a criminal matter, which is contrary to

Reacting to the latest finding by the Nigerian Government, the CEO Mensah commended the AGF for rising to the occasion and discharging his constitutional responsibilities with courage and fidelity to the rule of law.

Kojo Ansah Mensah, CEO JonahCapital Nigeria Ltd and Houses for Africa

Section 8(2) of the Administration of Criminal Justice Act 2015. "d) That the utterances and action of the IGP Monitoring Unit and Force Public Relations Officer ACP Muyiwa Adejobi (as he then was) during the press conference on the 27th of June 2025, where Paul Odili, Dr Adeniran Ogunmuyiwa and others, were declared and identified as the 'owners' and 'managers' of River Park Estate without judicial determination are inappropriate and in excess of the lawful authority of the police. The Nigerian Police do not possess the jurisdiction to independently determine land ownership or adjudicate alleged breaches of contract and must therefore avoid making such prejudicial statements. "e) It has been observed that allegations of destruction of property, criminal intimidation, and assault perpetrated against staff, agents, customers and certain residents of River Park Estate, allegedly by thugs acting pursuant to the directives of Paul Odili remains uninvestigated.

3.

Consequent on the foregoing, the Honourable Attorney General of the Federation has directed the temination of the case against Mr Samuel Esson Jonah, Mr Kojo Ansah Mensah, Mr Victor Quainoo and Mr Abu Arome.

The timely intervention of the HAGF has restored confidence and renewed hope among foreign investors and the business community that Nigeria remains a country governed by laws, due process, and institutional accountability," he said.

We also extend our profound appreciation to His Excellency President Ahmed Tinubu (President of The Federal Republic of Nigeria), His Excellency President John Dramani Mahama (President of the Republic of Ghana), Honourable Samuel Okudzeto Ablakwa (Minister of Foreign Affairs), His Excellency Mohammed Baba Jamal Ahmed (Ghana High Commissioner to Nigeria), the entire staff of the Ghana Mission to Nigeria for the steadfast support.

We equally extend our gratitude to all residents of River Park who stood by us throughout this trying period. Your solidarity, patience, and confidence in lawful resolution were invaluable.

We thank our legal team led by Mr S.l. Ameh (SAN) Chief Paul Harris Ogbole (SAN), Mr Adedayo Adedeji (SAN), Mr Lawrence Alobi Esq, Mr Abu Arome Esq and their respective chambers.

Above All we want to also thank our dedicated staff for enduring the turbulent period of violence, difficulties and standing with the company.

4 Additionally, the Nigeria Police Force is requested to investigate the complaints of criminal intimidation, assault and destruction of property alleged against Paul Odili and provide a detailed investigation report for the consideration of the Honourable Attormey General of the Federation.

We reaffirm that we are, and will continue to be, law-abiding foreign investors. Our commitment to Nigeria is unwavering, and we will continue to contribute meaningfuly to the growth and development of the Nigerian economy.

Furthermore, consistent with its statutory mandate to protect lives and property, the Nigeria Police is requested to allow peaceful enjoyment and maintain security for all

We trust that this episode will ultimately reinforce Nigeria's commitment to justice, transparency, and economic progress.”

13

JANUARY 3, 2026 • THISDAY, THE SATURDAY NEWSPAPER

INSIGHT

13

SEPTEMBER 25, 2021 • THISDAY, THE SATURDAY NEWSPAPER

INSIGHT

The joys of Christmas...

What a waste!

W H

InYou Praise Would LikeoftoPresident Become aBuhari Farmer?

Is Protecting Children Stop Ritual Attacksa Crime? and Killings

the EFCC, President Buhari by his action has successfully brought back to hen Muhammadu Buhari about took over what the reinskind of avePresident you been thinking thebysocial status scale. the public consciousness the need to treat public funds with the highest level power on May 29, 2015, Nigeria was sadly a broken state in of work you could do after you finish Currently, 70 per cent or more of the people of of transparency and accountability. many respects. As a result of many other factors including bad your secondary education?

Once upon farmers.

Farming hard Andthe After are keeping treasury looters on theiristoes and atwork. bay through governance and untold level of corruption, government could not Nigeria he Advocacy for Alleged Witches ustralia has introduced a ban (AfAW) on a time, during my work asproviders a schoolthePresident Bible Buhari encourages hard work, spending EFCC,Word, particularly, moved to curb unnecessary live up to its financial obligations to citizens and service at both the God's urges the Nigerian to stop16s, rituala most social media public for under habits of the nation on what economists articles (Ephesians of ostentation. Part federal and one state levels. attacks and killings because the notion teacher, of my colleagues at work once asked especially working with one's call hands. ban most of them are working to of the disclosures of the President’s stock taking was how the country Indeed one of the first official assignments that President Buhari carried of ritual money and wealth is completely an assembly of schoolchildren if they would 4:28 and 1 Thessalonians 4: 11, 12).

And indeed, bypass, often successfully.

The ban frittered away billions in foreign currency by importing goods, which can baseless. AfAW is making this call following the out was the approval of billions of Naira in bailout funds to enable state like to become farmers, and theysalaries. all shouted in bailoutthebework ofatfarming, orsuch agriculture, beamong was designed produced home. One of items was rice,tends a major to staple reported arrest of suspected ritualists in Oyo State governors pay something as basic as workers’ Granting those to protect younger children Nigerians. banning importation intocounsel the country,to thework President on one in southern Nigeria.that The local media reported funds was a huge national security because the pressure of arrears very response withboost an toemphatic: "NO!" She had asked well By suited toricethis Biblical from the many 'evils' they shouldn't face hand had saved the nation billions in foreign currency annually. that members of the Western Nigeria Security of unpaid monthlyquite salariesconnotatively, building dangerouslyin all a over the country the question way that was a hard and to work with one's hands.

In fact, but it seems now to be mislabelled as censorAnd, on the other hand, the President has boosted domestic production Network, Amotekun, arrested suspected ritualists ticking bomb. would a negative reaction/response from agriculture, farming, happens to beintothe thetheUS congress. of rice and in or the process had nudged the country self earliest sufficiency in ship by with body parts of a 73-year-old man.

Ask theelicit naysayers and they would readily remind you of how long it the thereby promoting a and feeling ofcontributed disdainto occupation of humankind.

The ofHoly food production.

He also created millions jobs forScriptures young people in the rice The Safety The suspects, who were apprehended took pupils, President Buhari to appoint his ministers how that Commissioner, Julie Inmanin the value chain.

Boluwaji area in Ibadan, said that a Muslim collapse of the economy as if,the without ministers, was frozen. for farmers and for work theygovernance do. indicate this as we read from Genesis 1: 26 - 31; Grant who is tasked with implementing this What is most admirable about President Buhari and his government is cleric asked them to procure some human body But buying that narrative would amount to what a famous Nigerian writer, Many young people don't want to be farmers. also: Genesis 2:5; and 2:15.

When God created is now the subject of a 'request' to attend an its frugal management of scarce national resources to attain optimum goals. parts for rituals. Ritual attacks are widespread Chimamanda Adichie, termed “the danger of a single story”. Yet the whole They want an easier job in officehow where Man, He him the work ofincultivating the dropped interview with Congress membersofashow shetois Recall thatgave since President Buhari stepped the saddle, oil revenue in Nigeria.

Irrational conceptions story was that many of our citizens did an not know decrepitthey a state are sureBuhari of their money. ground and animals - promises which he made to trying make abysmally as iftending to sabotagefor him the knowing all the big or become wealthy and President inherited in 2015. This is sad, because we to “tomoney design and implement a successful global citizens during his campaigns.

But with the little resources trickle in, the undergird these atrocities. Many Nigerians It was therefore necessary for him to takecountry stock against background translates must grow more food in our tothe feed to the definition of agriculture asthat we censorship regime” although her reluctance is President is achieving what governments that received oil windfalls could strongly believe in blood money, known in of the fact that the departing government did not, reportedly, cooperate full the growing population. Also, in Nigeria, too know it today: "The cultivation of crops and the likely to lead to languages contemptascharges. not dream of. some local Ogun Owo (Yoruba) well with the incoming government in terms of leaving workable handover much emphasis is Goodluck usuallyJonathan placed getting a many rearing oftheanimals forandman's Is theorreality that(Igbo). this Ban eyes Today, trains are up runninguse." daily from Abuja to Kaduna. And Ogwu ego They will thinktake that they notes. Although President wason gracious in defeat, from Lagos to IbadanFESTAC a brand newTown, rail track Lagos was started and completed; away from could these becomesites rich, and or successful of his appointees were still sulking what they saw as theirpaper personal university education andover merely acquiring Daniel Ighakpe, possiblythrough neverritual citizens are already commuting daily to and fro these two major cities in the Unfortunately, this is not the case. losses and therefore pulled all the stops if to make things difficult for the qualifications, not minding the holder of such return sacrifice. and thus so many ads will be unseen? country seamlessly as they reap from the dividends of democracy. And with Ritual wealth has no basis in reason, science, Buhari government. paper qualifications actually posThe main social mediaknown companies the way this government is going, before 2023 when the President would or reality. Home movies as Africa Even with the obvious and unpatriotic obscurantist behaviour of the PDP sesses the knowledge and hell-bent on making leave, the entire country would be linked by rail with all of its economic magicseem or Nollywood films have located not helped appointees andrequired their supporters still in government often to be intangible, matters. These movies continue to reinforce things difficult for Buhari, the President movedthis on with his methodical repair advantages. skills.

Nigerians generally have somewhere but uncontactable, able to these mistaken notions and other superstitions. of a broken country. The first thing he did was to identify all possible sources Ainofenokhai Ojeifo, Abuja mentality that a university degree T H E SAT U R DAY N E W S PA P E R instantly block someone they dislike but Families, churches, mosques, and other public of income to the nation and directed that all inflows be EDITOR OBINNA CHIMA ispaid more important than unable to stop bullying or most offensive institutions do not encourage the interrogation into one single account in linetechnical/ with the policy of DEPUTY EDITOR AHAMEFULA OGBU vocational of theseSomething traditional occult beliefs.

There are Single Treasuryeducation Account (TSA).and training. material. needs to be fixed.

MANAGING DIRECTOR ENIOLA BELLO H E S AT UDIRECTOR R DAY NISRAEL E W S IWEGBU PA P E R no robust efforts to criticize or become dispel these TSAin policy, interestingly, wasplaces mooted by DEPUTYTMANAGING WeThelive a society that a the It is likely we will see this far EDITOR YEMI ADEBOWALE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI irrational and paranormal claims in schools, PDP government but its penchant for imprudence DEPUTY EDITOR AHAMEFULA OGBU high value on white-collar jobs more complex with censorship/protecEDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN colleges, and universities.

So millions of and lack of accountability denied it the courage of MANAGING DIRECTOR ENIOLA BELLO THE OMBUDSMAN KAYODE KOMOLAFE and professionals, a society where tionNigerians for specific groups likelythat to be grow ages up blindly believing they implementing the policy. What the President literally DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI could make money through ritual sacrifice of did was to gather all theis nation’s money into one box blue-collar work considered challenged by those affected and those EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN human body parts.

The belief hasFreedom led many andlow locked it up with a big padlock andtheir watched for as status.

Parents want who have lost their audience.

MANAGING EDITOR BOLAJI ADEBIYI Nigerians to commit crimes and perpetrate any thief to come close.

THE OMBUDSMAN KAYODE KOMOLAFE children pursue careers thatdeveloping from censorship should be fought for, atrocities.

Many Nigerians have been jailed Who can to blame the President for almost T H I S DAY N E W S PA P E R S L I M I T E D will enable them maintain or even butoritare shouldn't involve innocent undergoing court trials due tochildren ritualparanoia over the safeguard of the national treasury EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, attacks andof murder. with revelations andhigh reportsstatus. of mind-boggling increase their This looting norrelated the innocence those children.

ISRAEL IWEGBU Not too long ago, the policethe arrested some that took place in the 16 years of the PDP? With T H I S DAY N E W S PA P E R S L I M I T E D Rather than condemning ban that has resulted in reduced economic DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE young Nigerians for stealing female pants, such disclosures of how billions meant for fighting EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA protects the children, the US Congress opportunities for those arepockets of DEPUTY DIVISIONAL DIRECTORENIOLA OJOGUN VICTOR DANBOYI which they intended to use for ritual sacrifice. insurgency in the Northeast endedwho up in the GROUP EXECUTIVE DIRECTORS BELLO, KAYODE KOMOLAFE, SNR. ASSOCIATE ERIC OJEH ISRAEL IWEGBU, IJEOMADIRECTOR NWOGWUGWU, EMMANUEL EFENI andAfAW the leadership of all countries more work-oriented.

It issoldiers therefore is asking all Nigerians to desist from a few individuals while our gallant fought with ASSOCIATE DIRECTOR PATRICK DIVISIONAL DIRECTORS SHAKA MOMODU, PETEREIMIUHI IWEGBU, ANTHONY OGEDENGBE ritual-related abuses because ritual money bare hands and on empty President Buhari should consider its implementation as very necessary andstomach, important CONTROLLERS ABIMBOLA TAIWO,DIRECTOR UCHENNAOJOGUN DIBIAGWU, NDUKA MOSERI DEPUTY DIVISIONAL VICTOR DANBOYI beliefs are baseless superstitions. Nigerian was duty bound to bring sanity and accountability back soon as possible.

SNR. ASSOCIATE DIRECTOR ERIC OJEH DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO that parents be re-educated and media, schools, and colleges should help in national spending.

ASSOCIATE DIRECTOR PATRICK EIMIUHI Dennis Austraenlightened regarding value and of TO SEND EMAIL: first TAIWO, name.surname@thisdaylive.com educate Fitzgerald, and reorient Melbourne, the public. They should Thus, under President Buhari, the the Economic CONTROLLERS ABIMBOLA UCHENNA DIBIAGWU, NDUKA MOSERI Financial Crimes Commission (EFCC), which lia assist in reasoning Nigerians out of this DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO occupations that are not high onhad killer-superstitious absurdity and nonsense. remained comatose for years, was woken up to resume TO SEND EMAIL: first name.surname@thisdaylive.com Leo Igwe directs the Advocacy for Alleged its duties. Apart from the trillions of Naira of looted Witches (AfAW) funds and property recovered from corrupt politicians

AT

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THISDAY, The Saturday Newspaper •January 3, 2026

super saturday

Uche Olowu: FG Should Monitor Progress, Tweak New Tax Laws Where Necessary Former President of the Chartered Institute of Bankers of Nigeria, Dr. Uche Messiah Olowu believes that with its implementation, public expectations from Nigeria’s new tax laws are high, saying that this is the moment the government must resist complacency and deepen discipline. In his view, the new tax laws should not be treated as finished products. They must be tracked, measured and refined to ensure they support productivity rather than squeeze businesses and households already under pressure. Olowu argues further that meaningful economic growth will remain elusive unless there is genuine coordination between fiscal authorities and the Central Bank of Nigeria as monetary policy cannot be fighting inflation while fiscal policy fuels deficits and inefficiencies. Likewise, revenue mobilisation must move alongside transparency, spending efficiency, and targeted support for the vulnerable. Only then can reforms translate into jobs, stability, and investor confidence. Speaking with Nume Ekeghe, Olowu reflects on the lessons from 2025, the outlook for 2026, and the urgent need for coherent policies that move beyond rhetoric to deliver tangible benefits for Nigerians. Excerpts:

Olowu

L

ooking back at 2025, how would you characterise the performance of the Nigerian economy?

In my personal view, Nigeria had a remarkable performance in 2025 as we started seeing the effects of the reforms begin to impact fully on the general economy, with strong expansion driven by various sectors. From what we saw and the statistics available to us, the composite Purchasing Managers’ Index, which shows the level of activities in the economy, rose to 57.6 index points in December 2025, which was evidence of a broad-based increase in aggregate economic activities. We were also told by the National Bureau of Statistics, that the Gross Domestic Product (GDP) growth, started from 3.13 per cent in the first quarter to 4.23 per cent in quarter two, even though in quarter three it slowed to about 3.98 per cent and these were driven by growth in services, the non-oil sector, a rebound in oil production, and also agriculture activities as occasioned by the reduction in insecurity to some extent. We also saw the forex reserves increase and hover above $42 billion, a current account surplus of about 6.1 per cent, traceable to a reduction in oil imports occasioned by the Dangote Refinery and, of course, expansion of non-oil exports. Basically, you want to say that overall there has been good

growth driven by improved demand, private sector investment, and moderate inflation due to the ongoing reforms. So we expect non-oil sectors, services, agriculture and industry to continue to improve.

helped, you will see that, yes, it is achievable. Then, going by the tight monetary stance of the Central Bank, the monetary policy, we should be able to say that it is achievable.

Inflation remained a major concern despite the rebasing. What were the biggest drivers in 2025?

I think food inflation, basically due to food insecurity, which impacted logistics costs. Food inflation moderated to about 11.08 in November, but before now it was about 39.3 per cent, and also energy prices.

So basically, insecurity, food, and energy costs are the basic drivers that made inflation remain a concern in spite of rebasing.

How effective do you think the Central Bank’s monetary tightening stance was in 2025, and what would you have done differently?

I think we should give kudos to the current regime at the Central Bank. The approach and policies were quite effective in moderating inflation and, above all, stabilising the naira. Aggressive interest rate hikes, with the Monetary Policy Rate (MPR) peaking at 27 percent, helped curtail inflationary pressures, bringing headline inflation down to about 16.05 percent in October and 14.45 percent in November. We have seen a decline in inflation for seven consecutive months, supported by stable exchange rates and improved food supply. We also saw a stable Naira, trading around N1,500 to the dollar, and forex reserves rose to about $46.7 billion. That boosted improved export receipts and capital inflows. We saw some big capital inflows, although some people say it was because of bond sales; but we saw some significant capital inflows into our FX reserves, coupled with an increase in oil production. The downside of the monetary stance was that access

What do you think should be done to attain the CBN’s inflation forecast to average around 12.94 per cent next year?

For full-blown economic activities to take place, they must happen in a secure and conducive environment. So we have to address insecurities. Luckily enough, I’m hearing that bandits and terrorists are having a shift because of recent activities in Sokoto State. So if we can address security and farmers can go to their farms, and with a reduction in energy costs, which the Dangote Refinery has

15

THISDAY, The Saturday Newspaper •January 3, 2026

super saturday

Uche Olowu: There Must Be Coordination Between Fiscal, Monetary Policy for Economic Growth streamline tax administration to make it simple, transparent and clear. A digital platform is very important to reduce bureaucracy, ease compliance and reduce corruption. There must also be fairness and predictability, clear thresholds so people know exactly what they are due to pay. Communication is key. Changes should be communicated timely. Capital hates surprises. Finally, monitoring and evaluation are critical. As implementation progresses, the government should evaluate the impact and tweak policies where necessary to ensure success.

to credit for small and medium enterprises was potentially limited. Interest rates were high, and small and medium enterprises (SMEs) don’t survive in a high-interest-rate environment. So, access to capital was a constraint to the economic growth; we should have seen the full impact of recent policies.

But overall, I think we saw a positive trajectory.

As we enter 2026, what are your expectations for interest rates and exchange rate stability?

I expect that we will continue to see exchange rate and interest rate stability. From my perspective, it looks positive. The CBN projects maintaining a stable exchange rate, with the naira trading between about N1,451 and N1,400 to the dollar. This should be accompanied by improved government revenue with the new tax laws, and coupled with crude oil production, where we have seen a stable rise. If they manage excess volatility, especially as a result of pre-election activities, I expect moderate positive trends in the next six months, with interest rates around 20 to 25 per cent.

From the fiscal side, do you believe government spending in 2025 was growth-supportive, or did it lean more toward consumption and recurrent costs?

I would say government spending had elements of both growth support and recurrent costs. The budget, if you recall, was about N54 trillion, out of which a significant portion, about N24 trillion, was for Capital Expenditure (CapEx), showing a focus on growth, enhancing investment and infrastructure like roads and power, even though we are yet to see significant improvement. Investment in CapEx and human capital development, health, and education attracted a large chunk. However, recurrent expenditure, including huge debt servicing of about N14.32 trillion and personnel costs, also took a chunk. So all in all, the spending intent was aimed at stimulating growth, but recurrent costs and debt servicing constrained fiscal space.

Going into 2026, what should be the number one fiscal policy priority?

The priority should be security and infrastructure.

In terms of roads and especially power, I don’t know why it is difficult to resolve power issue. We could do modular solutions, a more structured approach, and transparencyinthepowersectortoallowinvestments.

If we focus on roads, power, and energy, we will see tremendous growth in the economy, especially supporting SMEs, agriculture, and mechanisation.

Olowu Nigeria’s debt service burden continues to worry analysts. What is your take on that?

If you look at the ratios, it is a concern, no doubt.

But our debt-to-GDP ratio declined from about 39.3 per cent to 36.4 per cent in 2025, and it is projected to further decline to about 35 per cent in 2026, according to the Central Bank. This trajectory indicates gradual improvement in the debt sustainability outlook, driven by fiscal consolidation measures, improved revenue generation and intent to grow the economy.

Concerns remain about increases in global interest rates, because we are heavily exposed to the global economy. Rising interest rates will constrain government budgets, and debt servicing could crowd out development spending.

The tax laws were aimed at harmonising tax rules to boost revenue and support economic growth.

From what we understand, a greater chunk of lower-income earners will see their tax burden reduce significantly, while the tax base is broadened so businesses pay their fair share. Concerns range from higher taxes impacting business operations and raising costs in a fragile economy. That is true.

But it will also spur investment in infrastructure that will boost economic activities. My concern, however, is implementation and transparency in dealing with government revenue. The key issue is execution and making sure resources are put into the right areas, infrastructure that benefits the economy. I think we should give it a chance.

The new tax laws have come into effect, and many businesses have raised concerns. What is your take on the raging debate about the tax laws, especially with the allegation that the laws were altered?

What safeguards should accompany these new tax measures to avoid discouraging investment, job creation and SMEs? We should phase the rollout to ease the compliance burden, give tax breaks and incentives to SMEs, and

Vice President, Kashim Shettima (left); Secretary to the Government of the Federation, George Akume, and Benue State Governor Hyacinth Alia during Shettima’s arrival at Benue State.

L-R: Senior, People Operations, Branch International, Star Ebeh; Principal, Sceptre Comprehensive College, Lagos, Oluwatosin Falade, and Head of People Operations, Nigeria, Branch International, Emanuella Ekanem, during the presentation of laptops and healthcare items to Sceptre Comprehensive College, Lagos, as part of the company’s Corporate Social Responsibility in Lagos recently.

How can the government balance the need to raise revenue with citizens’ demand for visible value in terms of roads, power, healthcare, and education?

Raising taxes is designed to ensure that you get morerevenue,andthenthisrevenueshouldbebrought back to strategic projects, phased in a way that there is some level of transparency in execution. We should be able to focus on high-impact infrastructure like power, roads, health and education, so that revenue is deployed back to those high-impact sectors that will uplift the standard and quality of living in the economy. We must reduce corruption and ensure value for money in our spending, because it is one thing to collect revenue and another thing for some politiciansinAbujatobegintospendthemoneythrough one phony project or the other. Fiscal discipline is very important. Value for money in spending should be seriously emphasised. Clear communication is also key. Take, for example, the food belt; there is a need for railways to those areas so that agricultural products can be evacuated, reducing costs to the common man and increasing productivity. Once you communicate to the masses why a project will benefit them and how the money raised is being used, you begin to see buy-in. For me, the real areas to focus on are critical road maintenance, energy access, the upgrade of healthcare facilities, and digital infrastructure. We are in the age of Artificial Intelligence, so digital infrastructure to drive services and technology is also worth investing in. As we plug the money raised into these critical sectors, what has happened in other countries can happen here.

A good example is Rwanda and our neighbouring Ghana, where they have been able to balance fiscal discipline by channeling scarce revenue into critical infrastructure that drives economic growth. That is how you raise money and, in turn, give citizens quality of life.

Read full Interview online - www.thisdaylive.com

L-R: Past President of NIEEE, Engr. Kings Adeyemi; Past President of NIEEE, Engr. John Funso-Adebayo; 22nd President of NIEEE, Engr. Felix Adegboye; Outgoing President of NIEEE, Engr. Felix Olu; 22nd Vice President of the Investiture Engr. Atinuke Owolabi; During the Nigerian Institute of Electrical and Electronic Engineers (NIEEE) Handover Ceremony at the National Secretariat Office in Abuja... recently

PHOTO: KINGSLEY ADEBOYE

L-R;CEO, Eden Lifestyle, Maje Ayiol; Chairperson Lagos Kids Marathon Committee, Enitan Rewane; Chairman Board of Trustee, Dr Ohen Geoffrey; Director General, Lagos State Sports Commission, Mr Lekan Fatodu; Vice-Chair Lagos Kids Marathon, Yinka Edu; Head Teachers, St. Saviour S School Ikoyi, Mr Craig Heaton at Lagos Kids Marathon in Lagos. Held at Orange Island, Lekki. …recently

16

THISDAY, The Saturday Newspaper •January 3, 2026

•Tourism •Arts&Culture

Charles Ajunwa • 08064268968 • ajunwacharles@gmail.com

Grandeur of Calabar Carnival Last year’s Carnival Calabar was full of excitement and colours, writes Charles Ajunwa

T

he boarding hall of Terminal 2 Murtala Mohammed International Airport in Lagos, on Boxing Day, was filled. Passengers made lastminute efforts to board flights to their different destinations. There was heavy traffic, local and foreign travellers heading to Calabar, Cross River State, for the 2025 Carnival Calabar, the biggest street party in Africa.

As the aircraft from Lagos touched down at Margaret Ekpo International, excitement was written on the faces of all passengers. From the airport, billboards with the theme of the Carnival Calabar, ‘Traces of Time’ mounted at strategic points, welcoming visitors into the city.

From the lush green trees dotting the entire landscape, secured gardens and monuments, neatly paved and maintained roads, 24-hour traffic lights, magnificent roundabouts like Mary Slessor Roundabout, biggest Nigerian (green, white, green) flag mounted at popular Millennium Park, Christmas lights liting up major streets at night, security personnel patrolling all nooks and crannies of the state, visitors and tourists to Cross River apart from relaxing with friends and families as different spots 24 hours uninterrupted, were treated like kings and queens.

The organisers of Carnival Calabar lined up different activities each day since the festival started on December 1, 2025. Signages were mounted at strategic points showcasing the roads neatly maintained roads Cultural Carnival The Cultural Carnival held on December 26 witnessed massive participation by all 18 local government areas of the state. They showcased their traditions and culture. Adults and children dressed in their local costumes to showcase their identity.

Thousands of visitors and tourists who trooped out in their thousands to Millennium Park Roundabout, to watch performers from the 18 local governments display their different traditional dressing patterns, food, arts and crafts, music, dances, lifestyle exhibitions and historical storytelling.

The local government areas that participated in cultural festival were Abi, Akamkpa, Akpabuyo, Bakassi, Bekwarra, Biase, Boki, Calabar Municipality, Calabar South, Etung, Ikom, Obanliku, Obubra, Obudu, Odukpani, Ogoja, Yakurr, and Yala.

States like Bayelsa, Ondo, Edo, Benue, Kebbi, Katrina Kogi, Niger Nasarawa Delta and others later displayed their rich cultural heritage to the admiration of all.

Children Carnival

Cross River State Governor, Senator Bassey Otu (4th right), wife, Eyoanwan (3rd right), flanked by other dignitaries of 2025 Carnival Calabar The Children Carnival, which took place on December 27, was a beauty to behold as little children dressed in colourful attires from Bayside Band, Freedom Band, Diamond Band, Masta Blasta Band, Seagull Band, Calas Vegas Band, and Passion Band, choreographed this year’s theme ‘Traces of Time’ through their performances. Apart from telling stories about culture, food, dances, they also told stories about the environment especially impact of climate change, education, Nigeria’s independence. Their brilliance displays were applauded by thousands that watched their performances.

Bikers’ Carnival On Sunday, December 28, Cross River State Governor, Senator Bassey Otu, flagged the Bikers Carnival as part of programmes to mark the 20 years edition of Carnival Calabar.

Governor Otu who was represented by his Deputy, Rt. Hon. Peter Odey, promised to continue to sustain Carnival Calabar.

“I want to tell the whole world that Cross River State is read. I have inspected the routes the bikers are going to go through; there’re no potholes and the roads are very smooth.

“All the bikers must be properly kitted. They must be on their helmet, all kits should be used.

Doctors and ambulances are on the ground in case of any incident, and insurance also covers,” he said.

Governor Otu, who was chauffeured in a red sports car, arrived at the spectators’ stand in the evening to watch bikers display their skills. He thanked sponsors like UBA, First Bank, MTN and

others for supporting the annual festival.

Portuguese Ambassador to Nigeria, Paulo Martins Santos, who was present at the flag off, commended the Cross River State Governor, Otu, for investing in Carnival Calabar, even as he pledged to bring other ambassadors from Abuja to 2026 edition.

“I know you have been doing this for 20 years but it looks like you have been doing this for 200 or 2,000 years because of the level of professionalism.

The enthusiasm makes me believe you have been doing this forever.

“For me, this is like a comeback experience. The Portuguese have been in this part of the world more than 550 years ago in the 15th Century.

“We also have here names that are visible in the names of cities, caves, rivers. The geographic name you still use today, Calabar, is one of those examples. Calabar means the quiet harbour in Portuguese.

“I will come back here again. Also, I will convince other Ambassadors in Abuja, to come here because they don’t know what they are missing. Next year, they should cancel their holidays. Usually, many of my colleagues go on holidays on Christmas and New Year. This is a very good reason for them to stay here in Nigeria, also during this season,” Santos said.

Mr. Richard Chima Nzerem, 87, a Nigerian living in the United Kingdom for over 69 years, described Carnival Calabar as a dream come true.

“I thought this was an occasion that would never be realised. I want to say my heart is at rest. It’s not often that one experiences this kind

of thing. I am happy to witness Carnival Calabar with my son, Ejikeme. I hail from Imo State, but I have lived in the UK for well over 69 years. And this particular occasion, is one I will never forget.

The Bikers Carnival will promote sports tourism in Cross River in particular, and Nigeria in general.

Executive Chairman of the Cross River State Carnival Commission, Chief Gabe Onah, thanked the Portuguese Ambassador for “coming back home”, adding that Carnival Calabar “is a reconnection of African communities and families, and reconnects to “our past with the roles the Portuguese played with the traces of time.”

Dignitaries at the event included the Speaker of Cross River State House of Assembly, Hon. Elvert Ayambem, International Consultant to Carnival Calabar, Ikechi Uko, former Mrs. Tourism United Nations, Ebele Enechukwu, 10-man ECOWAS Commission and others.

Bikers from Diamond Bike Gang, Tinapa Mc, Maxk Riders, Metallic Knight, Invincible Mc, D’ Scorpion MRC, Free Wheelers and D’Avia Tors who were properly kitted entertained the crowd with their skills.

The 2025 Carnival Calabar took off on a grandiose and colourful note as Governor Otu, on Monday, December 29 flagged it off. Otu who arrived at Millennium Park Roundabout, take off point of the carnival at 2:30 p.m., elegantly dressed in carnival costume together with his wife, Eyoanwan Otu, paid tributes to his predecessors, namely, Dr. Donald Duke, Senator Liyel Imoke and Prof. Ben Ayade for ensuring the sustainability of Carnival Calabar during their different administrations.

He also expressed gratitude to the National Chairman of the All Progressives Congress (APC), Prof. Nentawe Yilwatda, Imo State Governor, Senator Hope Uzodimma, who came with their spouses, members of the diplomatic community, 10-man ECOWAS Commission, and various sponsors for being part of the festival.

After cutting the ribbon declaring open the 2025 Carnival Calabar, Otu together with other dignitaries walked from the Millennium Park Roundabout through Mary Slessor Road acknowledging cheers from enthusiastic spectators. The governor’s street parade after 35 minutes terminated at the Adjudication Stand where judges waited to watch and give marks to the seven bands that performed at the carnival.

After performance from Frontline girls, the Diaspora Band, Smirnoff Ice Band, Governor’s Band, Seagull Band, Calas Vegas, Freedom Band and Band Traces of Time, dressed in different colourful attires put up spectacular performances.

The bands later moved to U.J. Esuene Stadium for final performances where the adjudicators will announce winners.

Ebalunode: Hospitality Business in Nigeria Expanding, But New Entrants Face Challenges Peter Ebalunode and his siblings, operate Randekhi Royal Hotel, Benin City, Edo State. As the Executive Director of Operations, alongside Queenel Ebalunode, the Executive Director of Finance, he oversees the day-to-day running of the establishment, which spans two decades, offering hospitality services to the city and its environs. Ebalunode shares more about the hotel, the hospitality needs, and challenges within the city. Ferdinand Ekechukwu brings excerpts:

C

an you tell us about Randekhi Royal Hotel and your journey into hospitality business, what inspired it?

Randekhi Royal Hotel was birthed and open for business on December 4th 2004. It is wholly owned by Chief and Chief (Mrs.) Andrew Ebalunode. They had started a business called Albekhi Stores and this grew to become an elite fabric behemoth that was at a time supplying Main Market, Onitsha in the late 90’s. By the 2000’s there became a need to diversify and they saw that there was a dearth of standard hotels in Bénin City at the time. Thus they ventured into the hospitality business under the Randekhi emblem. At the time of opening, it was 60 rooms. As at today, it is 180 rooms.

How would you describe the kind of services you offer?

Randekhi Royal Hotel offers a myriad of hospitality

services from hotel rooms, halls for meetings, hall paraphernalia (projectors, screens, boards,others), bars, restaurants, swimming pools, gyms and others.

We have 2 wings catering to different pockets. We have the classic wing which is very affordable and the Gold wing which offers more premium options that are a bit priced but still affordable.

What makes the Hotel unique compared to competitors?

Our comparative advantages include but are not limited to, the volume of rooms we have, the proximity to the airport, the proximity to the administrative and financial hubs in Bénin City, and our experience over time to understand and know the varying and growing tastes of the Benin hospitality needs.

What is your vision for the next five years, especially within Benin City’s hospitality space?

Within the Bénin City market, we hope to maintain

and even grow our market share as we now have a lot of international and local competition within the space. Nigeria is growing and we hope to grow with our country.

What would you say has made you survive the years and what’s your proudest achievement with Randekhi Hotel?

We are proud of our resilience over the years.

We just clocked 21 years in the business with some of our earlier guests growing and proud that they associated with us. For years, we have been the biggest hotel in Edo state since we achieved 180 rooms. Those are proud moments.

What advice would you give to new hotel entrepreneurs in Nigeria?

Should I encourage my competitors (laughs out loud)? Well what we can say is that the business landscape is improving and they should be ready for the challenges that come within the terrain of the hospitality business.

Ebalunode

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T H I S D AY, T h e sat u r day N e w s pa p e r J A N U A R Y 3 , 2 0 2 6

ANALYSIS

Benefits of New Tax Laws for Nigerians

As Nigeria steps into a new fiscal era, the recently introduced tax reforms are poised to reshape the economic landscape, writes Oluchi Chibuzor

W

ith the government enforcing the new tax laws from January 1, 2026, many Nigerians are seeking to understand how these changes will affect their daily lives and the broader economy.

The core objective of the new tax laws is to make the Nigerian tax system fairer, simpler, and more growth-friendly.

Revenue generation by the government should not result in hardship for the citizens or come in the way of long-term development. This reform became necessary because the nation’s tax laws and administration had become fragmented, outdated, and highly inefficient, resulting in sub-optimal revenue generation and an unconducive fiscal environment for growth.

Most people understandably associate taxation with paying more because of the word “tax”. However, this reform was designed to reduce the current tax burden of workers, small and large businesses. VAT has been removed from essential consumptions such as food, healthcare and education to shield low-income households. The VAT rate remains at 7.5 percent, and the reforms now allow businesses to claim input VAT more broadly on assets and overheads, which is expected to reduce the “hidden VAT” that was previously embedded in final consumer prices.

Indeed, Nigeria’s tax rates for major taxes is now more competitive than most of its peers in African countries. For instance, Nigeria’s VAT rate remains 7.5 percent compared to 15 percent in Ghana, 16 percent in Kenya and 15 percent in South Africa.

The cut in corporate income tax rate to 25 percent compares favourably to 30 percent in Kenya, 27 percent in South Africa, and 25 percent in Ghana. The five percent excise tax on airtime in Nigeria has been reversed compared to 15 percent in Kenya and five percent in Ghana.

The top marginal tax rate for high-income earners is 25 percent in Nigeria, much lower than the 35 percent in Ghana Adedeji and Kenya or 45 percent in South Africa. A small company in Nigeria pays a zero percent corporate tax rate compared to taxation, where taxes are aligned with income levels, ensures that wealthier citizens contribute proportionally more to about three percent of turnover in Kenya and Ghana. Nigeria’s VAT design is now similar to Kenya and South Africa by national development.

This approach helps redistribute resources without widening input VAT recovery to assets and overhead while resorting to direct subsidies that often benefit the wrong tax administration and compliance will become more digital segments of society. For the average Nigerian, it promises a compliance relying more on tax intelligence and adopting fairer system where everyone contributes according to their risk-based audit. capacity.

However, while some critics have expressed concern “The biggest win is for the economy as a whole. While about the timing and impact of these laws, it is important to ordinary citizens benefit from fairness and less pass-through highlight the potential benefits for ordinary citizens, busicosts, workers benefit from higher disposable income, and nesses, and the nation at large. small businesses gain from higher exemption thresholds and simpler compliance, the overarching result is more trust, Encouraging Economic Formalisation fewer leakages, and less friction to do business,” Oyedele One of the most significant advantages of the new tax added. laws is the push toward economic formalisation. Historically, According to Oyedele: “Generally, only high-income earnNigeria’s informal sector has been large, making it difficult ers and large businesses that previously evaded taxes will to collect revenue, track economic activity, and plan developfeel like they are paying more. While some higher-income ment projects. individuals would pay more in personal income tax, most of By introducing clearer guidelines for taxation, the governsuch individuals will earn more than corresponding increases ment encourages businesses and individuals to register in their business incomes through tax cuts including the formally. planned reduction of the corporate tax rate from 30 percent to For small and medium enterprises (SMEs), compliance 25 percent or higher executive bonus as a result of increased with the new tax laws opens access to formal financial profitability for their businesses.” services, credit facilities, and government support programs.

Formalization also enhances transparency, reduces bureaucratic bottlenecks, and helps businesses participate in the Stimulating Investment and Business broader economy, ultimately boosting Nigeria’s GDP. Growth Chairman of the Presidential Committee on Fiscal Policy While taxes are often viewed as a burden, properly and Tax Reforms, Mr. Taiwo Oyedele said: “Small businesses structured tax laws can stimulate investment and economic and informal operators should expect less tax pressure growth. The reforms include incentives for businesses that while they are small and more structured as they grow. Key invest in critical sectors such as technology, manufacturing, changes include expansion of small-company exemptions agriculture, and renewable energy. threshold to N100 million annual turnover, exemption from According to Oyedele: “All investors in the capital market VAT collection obligations, capital gains tax, and withholding are eligible for capital gains tax exemption with over 99 tax in addition to protection from harassment and exploitapercent exempted unconditionally based on a threshold tion through harmonisation of taxes and the introduction of of N150 million proceeds and N10 million gains in any 12 the Office of Tax Ombud. months’ period.

“If a company’s annual turnover is N100 million or below (and meets the fixed-asset condition of not more than N250 “Pension funds, small companies and real estate investmillion), the law treats it as a small company, granting ment trusts are also unconditionally exempt. The remaining major reliefs. This means over 90 percent of micro and less than one percent of investors are eligible for exemption small businesses will be out of the “tax-paying” bracket for by way of reinvestment relief, which is designed to protect major taxes - Companies Income Tax (CIT), Capital Gains genuine long-term investment and support market depth.

Tax (CGT), Withholding Tax, VAT and Development Levy, In addition, other reforms to make investment in shares leading to lighter compliance expectations.” more attractive include exemption of withholding tax on Speaking further, Oyedele said: “The reform’s pro-growth bonus shares and stamp duties waiver on documents for the design focuses on wider exemptions for small companies to transfer of shares.” free up capital for reinvestment and hiring, modern input VAT credit rules that reduce production and service costs by allowing recovery, thereby encouraging formal supply chains, Encouraging Transparency and Acand a coordinated administration architecture to reduce countability duplication and disputes, enabling businesses to focus more New tax laws often come with stricter reporting and on production. Businesses that hired more people in the past compliance requirements. For Nigeria, this translates into two years will enjoy extra tax deductions for the salaries greater transparency in revenue collection and government paid.” spending. Citizens and civil society groups can track how tax revenues are utilized, holding both government and Promoting Fairness and Equity corporate bodies accountable.

The new tax laws also seek to make the system more Transparency ensures that funds are directed to projects equitable. By ensuring that higher-income individuals and that benefit citizens, such as hospitals, schools, and public profitable corporations pay their fair share, the government infrastructure. It also reduces corruption, which has historican reduce the burden on low-income earners. Progressive

cally siphoned resources away from development projects.

“Public education is critical. Implementation will only succeed if Nigerians clearly understand who is exempt, what records to keep, how VAT credits work, and what banks or tax authorities can and cannot do.

“Continuous, structured education through social and traditional media, trade associations, organised private sector, and engagements in local languages will be crucial to counter the high volume of misinformation which may derail a smooth transition.

“Trust is earned, but unfortunately, there is a huge deficit due to a history of unfriendly tax systems, poor accountability, and low benefits for taxes paid. The true test of these reforms will be whether the poor are allowed to breathe, small businesses stop being harassed, and all taxpayers get clear rules and quick dispute resolution. The government must be more transparent about what it collects and how it is used. The new tax laws create stronger mechanisms for accountability, and citizens must hold the government to measurable outcomes going forward,” Oyedele explained.

Shedding light on how Nigerians can claim input VAT on many purchases for the first time, Oyedele said: “Input VAT will be claimed by VAT-registered taxpayers (businesses) translating to lower prices for consumers. Nigeria now adopts a more globally acceptable standard VAT credit rules, allowing businesses to recover input VAT on many purchases (including services and fixed assets) when linked to taxable supplies.

Records typically required include VAT invoices or receipts and evidence that the purchase relates to a taxable business activity.”

He further clarified controversy surrounding the need for Taxpayers Identification Numbers (TINs) for bank transactions: “Banks are only required to request a Tax ID from “taxable persons,” not from everyone. No authority will take money from anyone’s bank account or arbitrarily order a freeze. The law requires a taxable person to make self-declaration. If you earn taxable income (salary, business, trade, investment income etc.), you should have a Tax ID. Students, dependents, and individuals with no income can operate their bank accounts without a Tax ID.”

Encouraging Civic Responsibility

The new tax laws also promote a sense of civic duty among Nigerians. By complying with tax regulations, citizens actively contribute to national development. This shift from viewing taxes as a burden to seeing them as an investment in the country’s future is vital for nation-building.

When citizens understand that their taxes fund schools, hospitals, and public infrastructure, they are more likely to support government initiatives and participate in national development programs. Over time, this fosters a culture of responsible citizenship.

Strengthening Nigeria’s Global Image

Compliance with modern tax laws also enhances Nigeria’s reputation globally. International investors, development partners, and financial institutions are more confident in engaging with a country that demonstrates fiscal discipline and robust governance systems.

Read full article online - www.thisdaylive.com

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THISDAY, The Saturday Newspaper •January 3, 2026

IMAGES

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ast Saturday, 27th December, 2025, Emmanuella Ikolodo clocked 50 years.

Friends, relatives, as well as acquaintances were invited to celebrate Ella’s 50th birthday at Nelo’s Place at 2, Yomi Oshikoya Street, Mobolaji Bank-Anthony Way, Ikeja, Lagos. Here are some of the guests that PHOTOS: Kola Alli graced the occasion Celebrant, Mrs. Emmanuella Ikolodo and her husband, Justus

Eniola Bello with wife Ayobami

Miss Shade Olakunri and Miss Ayodeji Olakunri.

Mr.& Mrs Debo Adeyemo

Ms Serifat Abiola and Mr. Babatunde Folarin

L-R: Le Victoria; Chief Mrs. Ikolodo; and Wilfred Ikolodo

L-R: Mr. Mohammed Garuba; Mr. Ayoola Adeola; Celebrant, Mrs. Emmanuella Ikolodo; Mrs. Chinonye Nzewi; Mr. Michael Nzewi; and Mr. Femi Ogunjimi.

L-R: Mr. Deji Adeyinka; and Mr. Mani Ukemezia

L-R: Mr.Segun Sadare; and Brigid Johnson

THISDAY, The Saturday Newspaper •January 3, 2026

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IMAGES

From left, Lolo Longe, Vera Emmanuel, Titi Ayeni, Miriam Ani and Eyo Ani

Celebrant, Emmanuella Ikolodo flanked by her guests.

Mr. Onyinye Ikolodo and Mr. Austin Ikolodo

L-R: Adaeze and Chi

L-R: Mr. Success Odugala; Mrs. Caroline Odugala; and Miss Grace Odugala.

L-R: Rukeme Ejoh; Jeme Otomiewo; and Franca Ejoh

Mr. Olalekan Thomas and his wife, Temitope.

L-R: Lolo Longe; and Vera Emmanuel

Celebrant, Mrs. Emmanuella Ikolodo and her husband, Justus with members of their family

T H I S D AY, T h e sat u r day N e w s pa p e r J A N U A R Y 3 , 2 0 2 6

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interview Megbuwawon: How I Turned Survival into Healthcare Revolution Dr. Kunle Megbuwawon, is the Medical Director of Orange Health Medical Center, Ajegunle. He recently marked his 50th birthday by reflecting on how a near-death experience 15 years ago inspired his commitment to providing affordable, accessible and quality healthcare to low-income communities.

Speaking with Funmi Ogundare, he discusses his journey, the growth of Orange Health, and his vision for expanding community-based healthcare across Nigeria How does it feel to be 50?

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feel so grateful to God and to humanity for the opportunity to live up to 50 years. I never thought I would live this long because of the near-death incident that I had 15 years ago. I was shot by armed robbers on my neck while I was coming from Port Harcourt, and I didn’t think I was going to survive it, but a driver took me to LUTH and because I had health insurance, I was able to access care at LUTH. I had two surgeries done, four blood transfused, an angiogram, and I had about 20 pellets removed from my neck. I give God the glory, none of the pellets touched any of my blood vessels. And to date, I still carry about 20 pellets in my neck, those that were deep inside that they couldn’t remove. I am grateful to God who spared me and gave me another chance to live. So I decided I was going to give back to those who cannot afford my service as a doctor. So we decided to set up the Orange Health initiative, an NGO. We later set up the Orange Health Medical Center, and today, I would say that instead of just jubilating, we decided that we are going to use the opportunity to also set up the lab, diagnostics and emergency center. Why are we doing this? We want to give back to those who cannot afford our service. We want to give every Nigerian the opportunity to have affordable, accessible, and excellent quality health care. We believe that we can give the best quality of care that is obtained anywhere in the world. We can give it here in Nigeria.

And we want to start with the low income areas. So we decided to come to Ajegunle where the population is large but the ability to pay is quite low. So today, we are not just celebrating my 50th birthday, we are also launching the diagnostic lab and emergency care center.

In terms of ensuring affordable and accessible health care, if you have to look at the number of people that you have catered for in a place like this, can you put a figure to that?

We have our data. Currently, we’ve seen over 5,000 people in the space of three years. We’ve done over 100 surgeries. We have over 40 health maintenance organisations that are working with us. We also created our own health insurance model. We believe that everybody should have one form of health insurance or another. Health insurance is now mandatory. We have the national health insurance scheme. We have the State Health Insurance Scheme. We have the private health insurance scheme at best, even with all that, we still have less than 10 per cent of the entire population having a form of health insurance. So we decided that in a community where we serve, we started a form of health insurance concept. We call it Ajo health. This is an appropriate technology, the technology that people are used to. So we collect ajo just like the local people and they save their money with us, and we remove 50 naira every day for their health insurance. So anytime they are sick, they have the opportunity of coming to the hospital and being

cared for without paying and at the same time, we are also using that opportunity to make them partners in the hospital, because the money we’re able to collect from them and keep for them, we’re able to use it to run the hospital, to develop the hospital, and be able to serve more of the people. To us, we’ve been able to create visible impact in terms of obstetric delivery, in terms of child care, in terms of surgical care and geriatric care. In fact, when we started, we started a concept called Sunday clinic, where we bring people who are 60 years and above, we bring them in every Sunday, and we take care of them at low cost. We do consultation for them, we do investigation for them, we do give them medications, and then for that Sunday, and we give them appointments again. We were able to save as many people as could have had diabetes, hypertension, or arthritis, and a lot of them became our patients, and today, that’s why we’re able to see that number of people. And for sustainability, of course, we have the health insurance companies partnering with us. Like I said, we have about 40 health insurance companies that we are able to partner with, the likes of AXA Mansad, the likes of Midway Assurance, the likes of Hajia HMO, Claireline HMO, to name just a few. And so to us, health is not just wealth, health is everything. There’s no aspect of the human life that doesn’t pertain to our health. We, we don’t take health as being wealth, we take health as being everything and we go the extra mile to make sure we’re able to give quality, affordable, accessible healthcare to the people of Ajegunle.

You been able to introduce some new concepts to orange health. What is the next big thing for the hospital?

Now our target is that we want to register 60 per cent of the entire population, which will be able to have them being able to see us as their go- to hospital. Now, there are four cardinal things that we focus on.

First, we focus on quality health service. We take each of these as projects. We have quality projects where we have quality manual, we look at the gap, what has a gap in our service? We begin to do a gap analysis, and then do those things that are not there.

We have SOPs for every area of our service, so quality is our number one key. Then we have client retention.

We want to ensure that everybody that has visited us, we’re able to retain them and we are able to provide them not just satisfactory service, but we want to delight them. We want them to be obsessed with our service. So, we want to retain everybody that has ever been with us. Our thought is that we want to generate new clients. We want more people to know us. We want more people to come and taste our service. We do what we call evidence.

Adebajo: Nigeria Needs Clear, Credible Policies to Attract FDIs Chief Executive Officer of CFG Advisory,Tilewa Adebajo, in this conversation discusses Nigeria’s economic outlook, developments in the banking sector, monetary policy and fiscal management.

He highlights key risks to growth, questions the realism of current budget assumptions and the $1 trillion economy ambition. Nume Ekeghe presents the excerpts: How would you assess the current state of the banking sector?

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he Nigerian banking sector is very robust. With the ongoing recapitalisation, the sector is on track to remain stable, even in a very tight monetary environment. Cash Reserve Ratio (CRR) is close to 50 per cent, yet banks are still posting bumper profits. That tells you a lot about their strength and capitalisation. I do not see recapitalisation as a problem at all. I believe all banks will meet their capital requirements in whichever format they choose. I also do not foresee widespread mergers and acquisitions. Any smaller banks that may face challenges are already under the control of the Central Bank of Nigeria (CBN), which can continue to manage them on a temporary basis if needed.

Overall, the sector is robust, and the guidelines in place are designed to further strengthen it.

Are there any risks you see in the banking sector?

The main risk is a potential rise in non-performing loans (NPLs) driven by interest rates that are close to 30 per cent. We will definitely see some increase in NPLs. That said, the major banks are already making significant provisions for loan losses, which shows prudence.

The issue of regulatory forbearance has largely been resolved, meaning that by 2026, banks should be cleaner, stronger and better capitalised.

Despite the economic downturn, the banking sector is performing very well, and their profitability reflects that.

Turning to the broader economy, what was the biggest challenge in 2025?

The biggest challenge, and the clear and present danger to the Nigerian economy was on the fiscal side. Nigeria is facing severe fiscal

Megbuwawon When you come into our center, it’s very beautiful.

So anybody that comes in will see the choice of colour, the beauty and people wants to see an evidence that it is a health facility and its clean, nice and attractive. We want them to experience our nurses, our services, our doctors, our laboratory, our results, our outcomes.

When they experience these and they are satisfied, we want them to be the one to be acknowledging and referring people. So after looking at the quality, client retention and client generation, we want to ensure financial sustainability. Whatever funds we are raising, we are generating, we are pumping back into the system, expanding on our service being able to do more.

Come 2026, we want to be able to do more surgeries. We want to come out with surgical programs where people can book for surgeries throughout the year because surgery is a major aspect of healthcare, and a lot of people are unable to access surgical services through qualified personnel.

Our debt profile is now around N152 trillion, and likely higher by year-end. Foreign debt alone could approach $50 billion, which is concerning. While Nigeria has assets estimated at close to N280 trillion, the debt-to-asset ratio is becoming too high. Some assets must be sold to pay down debt. The biggest risk is that we lose the gains from the painful reforms of the last two years. That is my greatest fear. Nigeria saved about $15 billion annually from fuel subsidy removal. Where is that money? It should be funding social and critical infrastructure, but most of it is going into debt service. That is not productive. In 2024, the government could not fully finance its capital budget. If you cannot fund capital expenditure, how do you grow the economy.

What does this mean for the government’s $1 trillion economy ambition?

Frankly, it is a mirage. The economy is not growing at 4 per cent.

The unemployment data is distorted, but real unemployment is closer to 40 per cent. Budgets are not realistic. There was a 56 per cent yearon-year increase in the budget, yet it was still not funded. Increasing it again without fixing revenue realism is not possible. This is the biggest threat to the economy today.

How do you assess monetary policy this year?

On the monetary side, policy has been orthodox. The Central Bank is reacting to fiscal weaknesses. The policy rate is at 27 per cent, while reported inflation is around 14 per cent. The Monetary Policy Committee clearly does not trust the inflation numbers, which is why rates have not been cut. There is a disconnect. If rates are not cut, the economy cannot grow.

Adebajo stress.

We consistently make revenue projections that we fail to meet. More importantly, even when we project revenues, we budget as if we will achieve 100 per cent of those targets, which is unrealistic. There must be a discount factor. The budgets of the last two years have been unrealistic, and this has pushed us into a mini fiscal crisis. The deficit financing requirement for next year is about N23 trillion. The key questions are: where will that funding come from, and at what cost? Although Nigeria’s debt service-to-revenue ratio declined at some point, by the end of this year it could rise again to between 70 and 80 per cent. This is unsustainable. Nigeria must revisit its balance sheet. One option is divestment, especially in the oil and gas sector. If the government can raise between $30 billion and $40 billion through asset sales, privatisation or concessions, it can restructure its balance sheet and inject equity.

What about trade, industrial and investment policy?

Trade, industrial, and investment policies are critical. If we want growth, people must trade, invest, and create jobs. This year, Nigeria recorded strong foreign portfolio inflows of over $20 billion by October, potentially reaching $25 billion by year-end. However, most of this money went into money market instruments and bonds, not equities. Foreign investors have largely lost confidence in the stock market, despite strong headline returns. Foreign direct investment is the real concern. FDI is only around $500 million this year is far too low. Nigeria needs a clear, credible industrial policy. Where are our big local investors putting their money? What are Dangote, Abdul Samad Rabiu, Wale Tinubu, and the fintech entrepreneurs building next? What about Chinese companies, given that China is Nigeria’s largest trading partner at about $25 billion annually? Why are we not localising the production of what we import? For example, Nigeria has sugar refineries owned by Dangote, BUA and Flour Mills, yet they still import raw sugar.

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THISDAY, The Saturday Newspaper •January 3, 2026

Empowerment How Zenith Bank Is Championing Inclusion, Community Support

From accessible banking products to targeted outreach in less-privileged communities, Zenith Bank is deepening inclusion for Persons Living With Disabilities. Omolabake Fasogbon writes that through financial literacy, assistive service channels, and community support initiatives, the bank is demonstrating that inclusion is more than sustainable nation-building with lasting benefits for all stakeholders

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n an era when banking is increasingly defined by scale and competition, the real measure of impact is shifting to something deeper: who gets included — and who is still left out.

That is why each year, the International Day of Persons Living with Disabilities (PLWDs) serves as a reminder that true development is measured not only by economic indicators but also by how societies treat their most vulnerable members.

Access to financial services enables PLWDs to expand consumption, develop resilience to disruptive shocks, manage risks and invest in durable goods, health, and education.

In marking the 2025 edition, Zenith Bank moved the conversation beyond corporate symbolism to practical inclusion, focusing on empowerment, accessibility, and dignity for people living with disabilities.

Through a mix of community-driven initiatives, advocacy, and strategic partnerships, the bank is spotlighting the everyday barriers that many Nigerians with disabilities face which include limited access to education and healthcare, financial exclusion, and employment gaps, amongst others.

Rather than treating disability as charity, Zenith Bank is positioning inclusion as both a social responsibility and an economic imperative.

This year’s commemoration highlighted programmes designed to support skills development, promote digital access, and encourage workplaces to adopt inclusive policies. By placing people with disabilities at the centre of its activities — listening, collaborating, and responding — Zenith Bank is signalling that inclusion is not a one-day event, but a longterm commitment to building stronger, fairer communities.

Inclusion of persons with disabilities in financial products and services has been identified as an important step on the pathway to achieving the Sustainable Development Goals.

That is why it remains a core part of the bank’s Corporate Social Responsibility (CSR) agenda and its alignment with global development frameworks.

Several barriers hinder access to financial services and systems by people with disabilities, and these include physical accessibility of financial institutions, banking facilities, and automated machines. In some cases, services and products do not cater to the needs of people with disabilities; for example, insurance policies might overlook the risks associated with disability. In addition, people with disabilities face challenges accessing credit due to the perceived higher risk by financial institutions, which has led to the denial of loans.

Nigeria is a signatory to the United Nations Convention on the Rights of People with Disabilities (CRPD), which mandates members to promote and ensure the equal enjoyment of all human rights and fundamental freedoms by all persons with disabilities, and to promote respect for their dignity. The Discrimination Against Persons with Disabilities (Prohibition) Bill was passed by the House of Representatives and the Senate joint committee in November 2016. Former President Muhammadu Buhari later signed it on January 17, 2019. The law established the National Commission for Persons with Disabilities (NCPWD) and empowered it to promote, protect and prioritize the rights of persons with disabilities, and to further enhance their productivity through education, health, and other socio-economic activities of the state.

However, through targeted interventions and community support initiatives, the Zenith Bank continues to champion equal job opportunities, social protection, and improved living conditions for persons with disabilities across Nigeria, aligning with the UN Sustainable Development Goal SDG 3: Good Health and Well-Being, SDG 10: Reduced Inequalities, and SDG 17: Partnerships for the Goals.

In addition, Zenith Bank also recognises that effective financial intermediation must reach all segments of society. Also, it recognises the critical role that financial inclusion plays in

palsy, down syndrome, autism, ADHD, and a host of mental and neurological disorders.

During the 2024 visit to Marigold Homes, the bank also presented a N2,000,000 cash donation to support the Home’s ongoing medical care for the children, nutritional, rehabilitation needs, and operational costs in the hospice. In addition, the Bank donated wheelchairs, assorted food supplies, toiletries, and diverse branded gift items such as backpacks, food flasks, notebooks, and bluetooth speakers to improve the welfare and comfort of the children.

The contributions reflected the bank’s commitment to inclusivity and reducing inequalities for children with disabilities by addressing some basic needs.

Celebrating Christmas with Charity Visits

Some staff of the bank during ... Orphanage Home...recently

Some staff of the bank during the visit to the Missionaries of Charity Contemplative...recently driving economic growth, reducing poverty and improving living standards.

This is not merely corporate social responsibility. It is about expanding the reach of financial intermediation to previously underserved populations.

Its commitment to inclusive banking is evident in its tailored products for different age demographics. For Nigeria’s growing youth population, the bank offers the ZECA (Zenith Children’s Account) and ASPIRE accounts, specifically designed to meet young people’s financial needs and encourage early adoption of proper banking habits.

The ZECA account introduces children to banking whilst teaching financial literacy from an early age.

The ASPIRE account caters to young adults and students, providing them with access to modern banking services including mobile banking, internet banking, and debit cards at affordable rates.

Recognising that Nigeria’s older population also deserves dedicated attention, Zenith Bank developed the Timeless account package specifically for senior citizens. This account comes with preferential treatment at banking halls, dedicated relationship managers, and services tailored to meet the unique needs of older customers, ensuring that banking remains accessible and comfortable for all ages.

Support for Persons with

Disabilities

In reaffirming its unwavering commitment to inclusion and social responsibility, Zenith Bank joined the global community in commemorating the 2025 International Day of Persons with Disabilities (IDPD), celebrated annually on December 3. This year’s theme, “Fostering Disability-Inclusive Societies for Advancing Social Progress,” underscored the crucial need to build communities where every individual, regardless of physical or cognitive ability, can live and thrive with dignity.

In honour of this important day, Zenith Bank visited the Missionaries of Charity–Contemplative (MCC) Home for Orphan Boys in Ikosi-Ketu, Lagos State. The facility cares for physically and mentally challenged boys, many of whom are orphans or homeless children in need of lifelong support and compassionate care.

During the visit, the bank presented a N2,000,000 cash donation to support the Home’s ongoing medical, nutritional, and rehabilitation needs. In addition, the bank donated wheelchairs, essential food supplies, and toiletries to improve the welfare and comfort of the children. These contributions reflect the bank’s belief that empowering vulnerable groups strengthens the fabric of society and promotes shared prosperity.

In 2024, the Zenith Bank, in line with its tradition, joined the global community in commemorating the 2024 IDPD. That year’s theme was, “Amplifying the leadership of persons with disabilities for an inclusive and sustainable future.”

As part of its CSR activity to mark this important day, Zenith Bank visited the Marigold Special Needs School, Alagbado, Lagos State.

A school that caters to children with cerebral

To mark the 2024 Christmas Charity Visit, the bank visited the Lady Atinuke Oyindamola Memorial Home, Badagry, Lagos on December 24, 2024. The objective of the home is to cater to people with cerebral palsy, epilepsy, Down syndrome, and autism.

During the 2024 visit to the Lady Atinuke Oyindamola Memorial Home, Lagos, the bank presented a N1,000,000 cash donation to support the Home’s ongoing medical care for the children, nutritional, rehabilitation needs, and operational costs in the hospice. In addition, the bank donated wheelchairs, assorted food supplies, toiletries, and diverse branded gift items for both the children and caregivers towards the improvement of learning and care at the home.

Also, in 2025, the bank visited the Hope at Last Orphanage, Ayobo, Lagos on December 24, 2025. The orphanage restores hope to the hopeless, vulnerable children, such as orphans, homeless children, and motherless babies in society. During the 2025 visit to the Hope at Last Orphanage, Ayobo, Lagos, the bank presented a N2,000,000 cash donation to support the Home’s ongoing medical care for the children, nutritional/ rehabilitation needs as well as operational costs in the orphanage. In addition, the Bank donated wheelchairs, essential items, including toiletries, Christmas cake, food supplies, diverse branded items, and other necessary consumables to enhance the well-being of the residents under their care.

This initiative serves as a reminder of the bank’s responsibility to support those in need, particularly the vulnerable children, the elderly, and individuals experiencing socio-economic challenges, aligning with the relevant United Nations Sustainable Development Goals.

Conclusion

In the final analysis, Zenith Bank’s support toward PLWDs, beyond charity, is reshaping access to opportunity. By expanding financial inclusion tools, supporting tailored products, and removing physical and digital barriers to banking, the bank believes that participation in the economy should never depend on ability status. That shift from sympathy to empowerment is what truly differentiates sustainable impact from seasonal gestures.

Equally important is the bank’s deliberate outreach to less-privileged homes and communities. Through targeted donations, partnerships with credible social organisations, and regular engagement with vulnerable households, Zenith Bank is demonstrating that corporate citizenship must be grounded in presence — showing up where the needs are deepest.

These interventions may not solve every challenge, but they help restore dignity, hope, and connection for people often left at the margins.

Taken together, these efforts signal a broader vision of development that recognises people as the center of progress. As more institutions embrace inclusion as strategy, the ripple effects can be transformative: stronger communities, more resilient households, and a financial system that truly works for everyone. In championing inclusion and community impact, Zenith Bank offers a model of how business success and social responsibility can reinforce each other, rather than compete.

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THISDAY, The Saturday Newspaper •January 3, 2026

Ferdinand Ekechukwu - 08035011394 Email: ferdi_adthisday@yahoo.com

SHOWBIZFLAIR

Krystal Chanchangi: I Found Peace Promoting Unity, Culture Model, mentor, actress, and humanitaria, Krystal Chanchangi is passionate about a Nigeria where things work. As a young diaspora leader, she has continued to pursue her goal of empowering and uplifting the next generation through diverse projects and programmes.

Chanchangi talks about her various projects and activities with regard to culture, new generation, youth orientation, and politics. Ferdinand Ekechukwu brings the excerpts

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s a Nigerian female diaspora and National Peace Awards holder, how have you been able to project this position and recognition?

An award is recognition of good deeds, and it’s more or less recognition of things that people do. In my case, I have continued to pursue the goal of bettering cultural unity, peacekeeping, and empowering the next generation. I have continued to host various multicultural shows, humanitarian events, and leadership programmes to uplift the next generation through my Kids Multicultural Word Organization and America Nation Multicultural Inc., Plus Africa Multicultural World Foundation, to better all communities I am associated with, and so many other places. I continue to uplift the next generation not to earn more awards but to encourage them to have a leadership skill and well well-cultured mindset for the future.

Can you tell us about your humanitarian works within rural communities in the country with regard to some of the projects you have embarked?

So, my Africa Multicultural World Foundation, we are solely focused on empowering the underprivileged community and supporting them with the necessary human needs. We have given funds to a few kids, both in the north and the east to empower their journey for education. To also empower youths to be in businesses and for me that is the biggest thing we can do, and that was the main initiative in creating a foundation called Africa Multicultural

What projects have you had on the platform of your Kids Multicultural World Organisation?

And what’s the essence of the America Kids Multicultural show?

We have held over thirty programmes: leadership, business initiative, cultural events, and fashion shows.

We have an annual programme where we have kids come on, and we talk about leadership. We talk about setting up businesses, allowing these kids to explore their talents through acting, through modeling, through public speaking, through their interests. The main idea of Kids Multicultural World Organisation and its mission is to unite a diverse nation, to build leaders of the next generation and to empower our next generation. To unite a diverse nation through tribes, ethnicity, and to also, you know, create a better world for our kids to stay safe and to stop committing crimes.

Krystal Chanchangi World Foundation. We make sure we raise funds and help these youths to start a business, send the little kids that cannot afford school fees to schools, provide educational supplies. And to be honest with you, sometimes it’s hard because putting it out there that you are a not-for-profit and that you want to do these things, there are other people there that are not-for-profits not for the betterment of society but for the betterment of themselves.

Would you say you have been able to promote cultural inclusiveness with your initiatives and in what ways?

Promoting culture and inclusiveness is one of the things I am known for. Because as someone that comes from a multi-cultural background – northern and eastern background – originally from Taraba State and Anambra State – I have found peace in promoting unity, in promoting culture, uniting a diverse nation which is known to be a mantra affiliated with my Kids Multicultural brand in the United States. I have mentored thousands of kids because we have a weekly seminar where we educate and empower kids about their heritage and where they

come from and taking pride in who they are and raising them to be leaders from speaking to the way they talk and to learn different languages. So, that will tell you a lot about the kind of person I am and about the kind of passion I have about culture.

Most times, we see people engage in philanthropic initiatives using it as a launch pad into politics.

Would we be seeing you delve into politics?

(Laughs)…Okay, nobody knows the future, and nobody knows what the future holds. But if you ask me, I don’t believe you have to be a politician to make a difference in your country of origin.

How can we change this narrative and make it more inclusive for people like you who have made efforts in development and humanitarian activities?

Like I said, power is not giving, power is taken.

The youths have to step up. We need to be the voice of ourselves. This is not even about the voice of the voiceless because we have been out there tirelessly fighting. So, we need to step up and fight. Fighting doesn’t necessarily mean going out and protesting, no. Fighting means doing exactly what I’m doing, going ahead to be the change you want to see in the world by creating your own journey, by creating your own success. And it’s very important for us to, you know, change our thinking first; that’s number one. Change our approach to the government, elect the right people.

Read full story online - www.thisdaylive.com

Why Adekunle Gold’s National Theatre Mudi Africa, Angelo Galasso Grace Concert Was More Than Music Grand Opening of Savile Row

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Ferdinand Ekechukwu

rom having one of the best albums of the year, and a standout single off the body of work that rank tops, respectively, 2025 was a remarkable year for Adekunle Gold. It reached a pinnacle on 26 December when he filled the iconic National Theatre, which holds a rich history from a time when Nigerians were treated to exceptional performances by some of the biggest national and global stars.

The concert followed the release of his sixth album, ‘Fuji,’ which serves as his bold, contemporary interpretation of Fuji music and the sounds that shaped his upbringing. The concert was reckoned full-circle and a historic moment. Adekunle Gold, real name Adekunle Kosoko, took centre stage in the same storied hall where he sat as a child to experience the performances that first inspired him.

The Nigerian afrobeats star opened a new chapter for Nigerian live music as he became the first artist to headline a concert at the newly renovated National Theatre, now Wole Soyinka Centre for Culture and Creative Arts. The sold-out concert titled Fuji experienced the return of large-scale performances to the historic venue and drew a full house of fans, creatives, and industry figures.

The night began with a memorable opening from legendary rapper and YBNL boss, Olamide Baddo, who was there from the very start to announce Adekunle Gold’s entrance with humour and flair. In a theatrical introduction that immediately set the tone. The cheers that followed reflected not just excitement for the performance ahead, but the long-standing bond between both artists.

Backed by a 55-piece orchestra and his band, The 79th Element, Adekunle Gold delivered a

carefully arranged set that reimagined his music on a grand scale. The orchestral arrangements added depth and texture to familiar songs, giving the audience a different way to experience his catalogue. The concert marked a key moment for the venue after it reopened in October 2025.

The highlights of the night unfolded effortlessly as Davido joined him on stage to perform their hit songs “Only God Can Save Me” and “High”, sending the crowd into a frenzy. In another defining moment, music legends Adewale Ayuba and Yinka Ayefele joined him on stage to perform Many People, a performance that drew loud applause and stood out as one of the evening’s most memorable scenes.

Between performances, Adekunle Gold paused to speak directly to the audience, sharing a message that reflected both his journey and the spirit of the night. “Don’t stop dreaming, keep daring to be different, do everything on your own terms,” he said, drawing a strong response from the crowd spread across families, middle-aged fans, millennial, and a younger audience.

Adekunle Gold and Davido

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Ferdinand Ekechukwu etty December raves ushered in a different excitement and spectacle with the launch of a foremost brand in the city of Accra, Ghana, where a new chapter was unveiled in the continent’s fashion landscape. It was the grand opening of Savile Row, the city’s newest luxury boutique, drew a glittering crowd of style enthusiasts, influencers, diplomats and fashion insiders.

In a post, shared by one of the guests, on social media, the event hosted by Nana Sarfo, proprietor of Ghana’s largest boutique, reveal the evening featured two standout special guests: Italian style giant Angelo Galasso and Nigeria’s own design luminary Mudi Africa.

While partners, influencers, and friends joined in celebrating the luxury brand, the post shows their presence underscored the event’s mission to bridge global couture with African elegance as invitees exchanged pleasantries, got photo ops and chats with the star personalities.

As a household name with established trademark in Ghana, Mudi Africa’s presence was hailed as befitting as it among other guests, made the day extraordinary. The meticulously curated soirée offered guests the rare chance to mingle with the two designers, explore the boutique’s sleek retail space and enjoy a surprise performance by the local drumming ensemble Kaba Kaba.

Nana Sarfo’s toast celebrated the collaboration, noting that African fashion thrives when creators celebrate each other’s. He was overwhelmed in appreciating the guests, cherished clients, and all whose presence at the East Legon event made the day.

“Thank You for Making Our Grand Reopening a Success!” he shared in a post. “We extend our heartfelt appreciation to everyone who joined us

Angelo Galasso, Mudi, and Nana Sarfo for the grand reopening of Savile Row Ghana – East Legon Branch. Your presence, support, and energy made the day truly extraordinary.”

The CEO of Savile Row Ghana said. “To our cherished clients, guests, partners, influencers, and friends of the brand, thank you for celebrating this milestone with us. Your continued trust in Savile Row inspires us to keep raising the bar in luxury tailoring and exceptional service.”

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THISDAY, The Saturday Newspaper •January 3, 2026

SHOWBIZFLAIR

Tosin Clegg 07062816737 e-mail: tosinclegg@hotmail.com

2026: New Pressures, Emerging Opportunities for Live Bands

Amid the economic turbulence of 2025, Nigeria’s live-band scene showed striking resilience, writes Adedayo Adejobi

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Shuga Band

huga Band’s position at the top of the ranking is as much about legacy as it is about performance.

Founded in 1998 by the late Akinloye “Akiin Shuga” Tofowomo—who passed away in November and has since been laid to rest—the band represents one of Nigeria’s most enduring live-music institutions. Akin Shuga, who studied music business in Boston, built the ensemble into a premium brand synonymous with excellence, discipline, and elite clientele.

Importantly, the story did not end with his passing. Barely a month after his death, a new board was constituted, ensuring continuity, structure, and strategic direction. Since then, the band has continued to perform at a high level, deliberately carrying forward the founder’s ethos and musical standards, proving that Shuga Band is bigger than any one individual.

From both performance and reputation standpoints, their pedigree remains unmatched. Shuga Band continues to dominate high-end private, diplomatic, and corporate events—a niche that offers resilience even in difficult economic cycles.

This positioning provides significant pricing power and reduces dependence on mass-market club gigs. Their ability to travel for premium bookings further strengthens their revenue base.

Digitally, the brand remains solid and professional.

Their Instagram presence is consistent and well curated, while their YouTube channel showcases polished live medleys and event performances that reinforce their premium image.

Institutional backing has also reinforced the band’s future. The Publisher of THISDAY Newspaper and Chairman of ARISE TV, Prince Nduka Obaigbena, has publicly committed to supporting Akin Shuga’s enduring legacy, pledging that the Shuga Band will continue to perform at THISDAY and ARISE Group functions—an endorsement that firmly anchors the band within Nigeria’s elite cultural and media ecosystem.

As household spending tightened, Shuga Band leaned further into high-yield prestige bookings rather than chasing volume. This approach preserved both brand equity and revenue stability.

In a harsh macroeconomic environment, Shuga Band stands as the benchmark—an elite brand with diversified revenue streams, strong digital visibility, institutional backing, and a successfully managed post-founder transition. Their resilience positions them strongly for 2026 and beyond.

Veentage Band

Veentage understands both the moment and its audience. With a sound and image tailored to Millennials and Gen Z, and recently premium clientele, the group leans heavily into trending medley covers that travel quickly on social media.

Their Instagram following reflects that instinct: youthful, engaged, and growing.

Online, they do not merely exist—they perform.

A dedicated YouTube channel, punchy viral-style clips, and consistent content keep them visible beyond the stage. That digital strength is already paying off creatively. In 2025, band leader Desmond Emokiniovo released a solo single, signalling a smart expansion into content creation and streaming revenue, not just live gigs.

When physical-event budgets tightened in 2025, Veentage adapted by riding social-media virality.

The payoff has been strong positioning for festivals and brand activations in 2026—right where young audiences and advertisers intersect.

Cool Ice Band

Elijah Oluwaseun Odiakosa and the Cool Ice Band operate at the premium end of the event market, covering everything from weddings to high-level corporate galas. Their reputation is built on reliability, range, and scale, reinforced by a polished website and strong control of major venues through repeat bookings. Simply put, they stay busy—and profitable.

Within the industry, Elijah is recognised for heavy investment in top-of-the-range, European-standard sound systems—a key differentiator that supports premium pricing and client loyalty. Looking ahead, momentum continues with a debut album planned

Akinloye Tofowomo

Ayo Ajekigbe

Elijah Oluwaseun Odiakosa

Godbless Ubiebifayen

Kolawole Rogbinyin

Seun Bankole

Segun Johnson

Score Anesi

Samuel Sodeke

Desmond Emokiniovo

as 2026 approaches.

Digitally, the brand is functional rather than flashy, maintaining consistent activity on Instagram and Facebook alongside a clean, modern website. Crucially, income is diversified beyond live performances.

Production, AV rental, event services, and car sales create a wider business ecosystem.

Faith Band

Operating firmly within faith-based and cultural circuits, Ayo Ajekigbe’s band has built a steady presence across South-West Nigeria, with some cross-border engagements.

Its strength lies in a clearly defined niche that remains active even when mainstream entertainment spending declines.

Digital presence is moderate—strong within its faith-based audience but limited in broader reach. In 2025, the band focused on consistent cultural and traditional engagements, avoiding over-dependence on club shows and mass-market spending.

This niche-driven approach provides resilience rather than hype, placing the band fourth for stability and sustainability in a tighter economic climate.

The Aristos Band

Aristos Band is a seasoned Nigerian live-music ensemble known for polished, high-energy performances spanning Afrobeats, Highlife, and contemporary fusion. Built on consistency and professional delivery, they remain a trusted choice for social events.

Their maiden headline concert, The Life of the Party, held on 17 December 2025 at the Balmoral Convention Centre, Lagos, signalled rising demand and growing brand confidence.

Digitally, Aristos prioritises steady relevance over virality, using releases and active social media to showcase live sets and event highlights. Revenue is anchored in live performances and concerts, complemented by recorded and streaming content. In 2025, this emphasis on dependable live income helped cushion fluctuations in one-off bookings.

Eboni Band

Godbless Ubiebifayen’s Eboni Band is a credible and longstanding live-band brand, best known for consistent delivery at social, private, and premium events. Their reputation is built on reliability and performance quality rather than hype, making them a trusted choice for clients who value professionalism.

Digitally, the band maintains a vibrant Instagram presence that supports visibility and keeps them top of mind within their

core market. Revenue remains anchored in stable event bookings—a key strength.

In 2025, that focus paid off. Dependence on premium private engagements insulated the band from broader spending softness in the live-entertainment market.

SB Live

Seun Bankole and SB Live are gaining strong momentum, driven by growing visibility across diaspora markets in the United Kingdom, United States, and Nigeria. Their presence at private, resort, and high-end social events gives the brand an international edge that few local bands can match.

Digitally, SB Live is highly active. A large Instagram following and frequent posts of high-energy live performances reinforce their appeal and keep global audiences engaged. That visibility feeds directly into bookings.

Revenue strength comes from mobility. The ability to tour and perform internationally provides a hedge against local currency pressures and inflation. In 2025, this cross-border expansion proved strategic, insulating SB Live from weakening domestic discretionary spend.

Segun Johnson

Segun Johnson is a young, fast-rising Nigerian bandleader celebrated for electrifying, high-energy shows that blend Yoruba chants with Afrobeats, Highlife, and party rhythms. He is a must-have for owambe parties, corporate events, and international gigs, with sold-out concerts in Canada and the United Kingdom underscoring his cross-border appeal.

Digitally, Johnson thrives on viral performance clips and streaming releases, supported by active social media that highlights crowd energy. Revenue is driven by live dominance—premium bookings and headline concerts—supplemented by recordings and tours.

In 2025, adaptability and consistency sustained his momentum despite fluctuating event demand.

He ranks eighth for strong live credentials and global reach, although mainstream chart presence remains modest compared with top commercial acts.

Sharp Band – Anesi Ivharue

Sharp Band is a veteran institution in Nigeria’s live-music space. As far back as 2014, they had the capacity to run two events simultaneously and handled high-profile engagements, including a presidential daughter’s wedding. That scale remains a core strength.

Digitally, their Instagram and Facebook pages feature live-session clips with modest but steady traction. Their large operational structure—musicians, engineers, and support staff—allows them to manage scale efficiently and spread fixed costs.

However, the band needs to evolve with the times.

In 2025, the key challenge was staying relevant to younger, digital-first audiences. Still, reputation, capacity, and institutional depth give them endurance.

Metro Band

Metro Band is best understood as a business-led live-entertainment outfit rather than a musician-driven institution. Its founder is a successful businessman, particularly in construction, and that commercial strength is evident in organisation, branding, and his love for music. However, the absence of musical grounding at leadership level creates structural limitations.

Not being a musician or instrumentalist leaves creative control largely with band members who, while competent, are largely average. This results in a narrow repertoire and predictable performances, confining the band’s appeal mainly to younger millennial audiences—currently its core market.

To be taken more seriously, Metro Band must evolve: expand its repertoire, tighten stage coordination, improve performance dynamics, and engage professional vocalists skilled in audience interaction.

An experienced musical director is essential. Until then, the business works better than the music—suggesting the founder’s strongest value may lie in investing in music rather than leading it.

Why These Bands Matter in 2026

Nigeria’s live-music industry enters 2026 shaped by resilience. In 2025, inflation eroded disposable incomes, a volatile naira raised production costs, and event organisers became sharply cost-conscious.

Bands that endured shared key traits: access to premium or corporate clients, diversified income beyond stage performances, and strong digital visibility that converted attention into bookings.

Smart band owners are those prepared to pair performance excellence with operational adaptability.

The strongest acts invested in studios, production services, corporate and diaspora gigs, monetised digital content, and maintained momentum despite economic pressure.

Corporate events, destination weddings, brand activations, and international bookings now anchor industry revenue, while digital platforms have evolved from mere promotion into income streams.

Diaspora tours offer both hedge and prestige.

With Nigeria’s new tax policy effective from 1 January 2026, bands without formal operational structures face a critical test. Only those with standardised accounting, contracts, and revenuetracking systems will navigate compliance successfully—separating long-term winners from informal, high-risk operators.

2026 will reward bands that combine spectacle with strategy. The most bankable acts are no longer just performers; they are institutions—building experiences, partnerships, and global relevance in a market that never stops dancing.

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FEATURES

Powering Africapitalism Heirs Energies’ acquisition of Maurel & Prom’s stake in Seplat Energy fosters homegrown investment and long-term economic empowerment across Africa, writes Obinna Chima

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igeria’s oil and gas sector remains one of the most consequential pillars of the nation’s economy, shaping revenue flows, employment, infrastructure, and investor confidence. Despite cycles of volatility, reforms around governance, transparency, local content, and gas utilisation continue to open new pathways for growth.

With global markets shifting toward cleaner fuels, Nigeria’s vast gas reserves and the push to monetise them present renewed opportunities.

Indigenous companies are taking on larger roles, demonstrating capacity, resilience, and ambition. This transition is helping to deepen domestic value creation, strengthen sector resilience, and keep more economic benefits within the country.

Against this backdrop, strategic investments are beginning to redefine the narrative of ownership and value creation in African energy.

The decision by Heirs Energies to acquire Maurel & Prom’s 20.07 percent stake in Seplat Energy underscores this shift and stands as a strong boost for Africapitalism.

Africapitalism, which is championed by the Chairman of the United Bank for Africa (UBA) and Heirs Holdings, Mr. Tony Elumelu, advocates for a form of capitalism that prioritises long-term economic and social value in Africa. It’s a call for the private sector to play a leading role in the continent’s development, not just for profit, but for shared prosperity. In the face of global trade uncertainties, this philosophy offers a beacon of hope.

Heirs Energies, one of Africa’s leading indigenous integrated energy companies during the week acquired the entire 20.07 percent equity stake (120.4 million ordinary shares) previously held by Maurel & Prom S.A. in Seplat Energy Plc at a price of GBP3.05 pence per share, valuing the transaction at approximately $500 million.

The acquisition, which was among the flurry of last-minute deals seen at the twilight of 2025, represented a further milestone in Heirs Energies’ long-term strategy to strengthen indigenous participation in strategic assets and accelerate sustainable energy development and security for Nigeria and Africa.

Commenting on the transaction, Elumelu, who is also the Chairman of Heirs Energies said: “This acquisition reflects our strong belief in Africa’s ability to own, develop, and responsibly manage its strategic resources. It is a long-term investment in Nigeria’s and Africa’s energy future, and aligns with our mission to drive energy security, industrialisation, and shared prosperity.

“Seplat Energy has built a resilient, wellgoverned platform with compelling long-term prospects, and we are pleased to support its continued growth and value creation for all stakeholders.”

Heirs Energies Limited is Africa’s leading indigenous-owned integrated energy company, committed to meeting Africa’s unique energy needs while aligning with global sustainability goals.

Having a strong focus on safe operations, innovation-driven growth, environmental responsibility, and creating shared prosperity for all stakeholders, Heirs Energies leads in the evolving energy landscape and contributes to a more prosperous Africa.

Heirs Energies operates OML 17 in the Niger Delta, producing over 50 thousand barrels of oil per day (50 kbopd) and 120 million cubic feet of gas per day (120 mmcfd), with a reserves base of over 1.5 billion barrels of oil (MMBo) and 2.5 trillion cubic feet of gas (Tcf).

Since its debut in 2021, Heirs Energies has established itself as the brownfield excellence leader, having successfully addressed all the challenges that confronted onshore operations in Nigeria and has been a critical catalyst for the rejuvenation of safe and reliable onshore operations in the Niger Delta.

The company is also a leading gas producer and supplier in Nigeria’s domestic gas market,

providing fuel for over 400 megawatts of electricity generation, powering millions of homes, businesses, and factories.

On the other hand, Seplat Energy Plc is a Nigerian independent energy company focused on oil and gas exploration, production, and gas processing, primarily in the Niger Delta. It is listed on both the Nigerian Exchange and the London Stock Exchange and is as a key player in Nigeria’s energy transition.

The landmark achievement was supported by two leading African financial institutions—Afreximbank and the Africa Finance Corporation — further demonstrating Africa’s capacity to finance its own deals.

Heirs Energies had last week sealed a $750 million financing deal with Afreximbank.

The agreement, signed by Elumelu, and President, Afreximbank, Dr. George Elombi, for their respective entities, was to propel Heirs into its next phase of growth.

Elumelu had hailed the Heirs Energies and Afreximbank deal as a “clear manifestation of African capital working for African businesses.

He chronicled Heirs Energies’ venture into oil and gas, highlighting the initial funding barriers it faced, but which Afreximbank helped play a catalytic role in financing.

He admitted that the “story cannot be told without referencing Afreximbank’s catalytic growth support, working with the AFC and other partners.”

The Chairman also acknowledged that it is indeed tough to survive in businesses in Africa, praising Afreximbank for its unprecedented impact.

Elumelu said, “No one can develop Africa; the most catalytic and impactful financial institution in Africa is Afreximbank. They have grown the capacity and boldness to support African businesses.

“To my fellow private sector leaders: when financial institutions support you, please, the least you owe them is to perform. If you perform, you encourage them to do more for you and others.

And this is our mantra.

“Even when we had significant oil theft in our operations, we never defaulted in our payments. No private sector business in Africa without Afreximbank.”

Further recounting the acquisition of Oil Mining Lease (OML) 17, he noted that the transaction encountered prolonged delays under the administration of former President Muhammadu Buhari, partly due to concerns that the asset was too large for private sector ownership.

Elumelu also said not a dollar came from UBA to finance OML 17, reaffirming the role of external financiers in the continent.

He said, “Our government at the time refused to approve it because it was considered too big for the private sector, forgetting that Shell itself was a private sector entity,” he said, adding that the delays imposed significant financial costs on the company.”

Elombi said the bank’s support for Heirs Energies aligned with its broader commitment to strengthening Africa’s energy sector, which he described as critical to economic stability across the continent.

The Afreximbank President said, “If we did not support the energy sector, about 23 African countries would be in serious trouble” He added that Afreximbank’s African ownership reinforced its resolve to remain a dependable partner in both favourable and challenging times.

Giving more insight into the deal, Executive Director/ Chief Financial Officer (CFO), Heirs Energies, Samuel Nwanze, said the financing was designed to “take us into the next phase of growth” by doubling outputs.

Elumelu

He added: “We are an ambitious group, and we consistently look for growth opportunities. The core reason we are in the oil and gas business at Heirs Energy is to drive energy sufficiency for the African continent.

“Wherever we see opportunities to acquire assets that align with that broader vision, we intend to pursue them. That said, we are not speaking about any specific acquisitions at Elumelu’s concept of Africapitalism acknowledges that the public sector is insufficient to drive Africa’s development and provides an alternative to government-only methods of market regulation and the delivery of necessary social services.

It calls for the creation of a new Africa via the initiatives of a resurgent private sector that will deal with societal challenges by starting companies and creating wealth for the local community.

Certainly, Africa offers countless untapped economic opportunities as the last frontier of capitalism. That is why the continent needs an endogenous growth model in which it manufactures goods for its markets as a first foundation, spreading out regionally from that base and emerging as an economic power in its own right through competitive advantage.

One way to do so is to invest heavily and simultaneously in job-creation strategies and in education systems that will create skilled workers to take opportunities that will be created by expanding economies.

Africa’s growth profile is, among other things, driven by its rapidly expanding consumer markets, as well as its private sector. From Lagos to Nairobi, Accra to Lusaka and other major cities in the continent, with innovations in the oil and gas, mobile payment space, e-commerce, technology, agriculture and other critical sectors of the continent, promoters of Africapitalism strongly

believe that with the required support, Africa can compete with their peers in the global market, thereby expanding trade in the region.

This would help lift the continent out of its present economic predicament.

Also, proponents of Africapitalism maintain that the private sector can also contribute to the continent’s development by making long-term investments in critical sectors that will foster social welfare and economic prosperity.

The founder of the Tony Elumelu Foundation strongly believes that entrepreneurship is a vital tool for eradicating poverty in Africa.

More importantly, for him, entrepreneurship would get youths in the continent busy and keep them out of social vices, as well as create employment opportunities in the continent.

According to the Chairman and Founder of Heirs Holdings, Africa’s development requires massive private global capital to fire and power investments in the area of infrastructure, to create employment and eradicate poverty.

Therefore, if Africa is to create wealth sufficient to sustain economic growth, it must sharpen its entrepreneurial focus on the continent, promote long-term investments with social impact that can offer outstanding return opportunities when compared with short-sighted, rent-seeking types of economic activities that had been Africa’s private sector for decades.

In all, Heirs Energies’ $500 million acquisition of Maurel & Prom’s stake in Seplat Energy is a clear demonstration of Africapitalism in action, showcasing the continent’s capacity to drive high-impact, locally led investments. This landmark deal not only strengthens energy infrastructure but also underscores the potential of African capital to shape sustainable economic growth across the region.

THISDAY, The Saturday Newspaper •January 3, 2026

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PERSONAL FINANCE with Omolabake Fasogbon... 08155131874

How 2025 Taught Us to Turn Debt into Wealth

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Omolabake Fasogbon

he year 2025 has taught different financial stories to Nigerians and investors alike. For some, it delivered business growth, wealth creation and a sense of fulfilment.

For many others, it brought unpleasant realities, amplified by economic turbulence that strained household budgets, pushing further individuals and businesses deeper into bad debt.

Yet, even amid these pressures, the year also produced stories of resilience. Beyond the narratives of financial strain, stories emerged of bold investors whose high-stakes debt propelled mega prosperity, rewriting bad narratives about borrowing as being a financial entrapment.

One such example is Ejike, a Lagos-based tailor whose story underscores how deliberate use of finance can alter outcomes. Operating initially within Nigeria’s informal economy, while navigating loan complexities and capital constraints, Ejike’s turning point came when structured funding, combined with financial training, enabled him to invest in productive equipment. That shift moved his business from survival to expansion, creating jobs and new revenue streams.

Stories of people like Aliko Dangote and Henry Fajemirokun are great inspirations that show what is possible. Still, the story of the Founder and CEO of Payaza, Seyi Ebenezer, remains a fresh example that stood out in 2025. His journey shows a clear path and a strong, resilient way to handle loans and build a business.

In September 2025, Payaza announced a repayment of N20.3 billion in commercial paper obligations, funds raised earlier in the year through Series 1 and Series 2 of its N50 billion Commercial Paper Programme.

The repayment, he said, was completed in full and ahead of schedule, with the

company not resorting to new equity or refinancing. Instead, he funded it through internally generated cash flow, a signal of disciplined financial management.

For Ebenezer, the repayment went beyond settling obligations to investors. It reinforced the company’s credibility in Nigeria’s debt market and earned its investment-grade credit rating upgrades from multiple agencies, reflecting improved financial resilience and governance standards.

The Payaza story mirrors a broader reality highlighted by development and financial institutions. In several reports, including its private sector updates, the World Bank has noted that access to well-structured credit, supported by strong governance and cash-flow discipline, remains a key driver of business

growth in emerging economies like Nigeria.

Debt, the institution argued, becomes harmful only when it is misaligned with income generation and long-term planning.

This idea was also shared by Nigerian financial firm, Opticum Finance, which classified borrowing in two forms. Destructive borrowing, the firm explained, typically finances lifestyles beyond one’s means, often through high-interest consumer loans tied to depreciating assets and without a clear repayment plan.

Strategic borrowing, on the other hand, is channeled into income-generating assets, business expansion with measurable returns, or education and skills that increase earning capacity.

The lesson from 2025 is therefore that

debt should not be completely avoided, but that it must be approached with clarity and discipline. Experts aver that credit itself is neither good nor bad. What matters is how it is structured, managed, and repaid. For individuals and small business owners, understanding this difference can determine whether debt becomes a trap or a tool.

As Nigerians look ahead to 2026, financial experts suggest a rethinking about borrowing to be viewed strategically rather than emotionally, explored only where there is a clear repayment plan and realistic returns.

They pointed out further that trust in itself is a kind of wealth. Being reliable with lenders and partners is believed to help build a reputation that will open much bigger doors for borrowers in the future.

Other Business Stories

Rite Foods Firm Launches 24- hour Food Service in Lagos amid Shifting Demand Reiterates Focus on Social Impact

Food service provider, Noirspoon has announced the launch of its round-the-clock culinary operations in Lagos to align with the city’s extended work and mobility patterns.

Founder and Chief Executive Officer of Noirspoon, Uthman Hameed stated that the new model sought to address demand of commuters, nightshift workers, and residents navigating unpredictable schedules.

He said the idea followed an assessment of consumption patterns in the city, where it was discovered that food services sector is shifting from fixed-hour operations toward models prioritising access, reliability and

operational continuity.

“We studied how Lagosians actually eat, and what we saw was simple: hunger doesn’t run on a schedule. Convenience is no longer a secondary consideration in urban food consumption. It is increasingly central to demand, particularly in cities with high traffic congestion and long workdays,” he said.

He explained that the outfit operates as a cloud kitchen, focusing on delivery and takeaway services.

“Our offerings include Nigerian meals, rice dishes, soups, breakfast items, pasta and

selected intercontinental options, available at all hours. The model is designed to serve workers with irregular schedules, including early-morning commuters and night-shift employees”, he informed.

Hameed noted that Lagos’ economy, now stretching beyond traditional business hours, places new demands on food service providers to move past delivery alone, to balancing round‑the‑clock availability with quality and portion value.

He reaffirmed the firm’s new model as strategic and deliberate move to adapt to the realities of evolving Lagos city.

Indigenous electro-mechanical solution provider, JMG Limited has committed anew to driving long-term infrastructure efficiency and sustainable development in Nigeria.

This is as the company further positions its operations for continued growth in the New Year, reiterating its focus on sustainable energy solutions.

Speaking on the company’s outlook for year 2026, its Group General Manager, Rabi Jammal noted that the firm’s approach to growth is anchored on continuity rather than seasonal

resets.

He stated that this enables the firm to remain focused on delivering reliable power, comfort, safety, and efficiency across built environment towards Nigeria’s transition to cleaner and more sustainable energy solutions.

Jammal explained that the company’s model fit into local environment, hence its operations through specialised divisions covering power generation, renewable energy, HVAC, vertical transportation, electrical infrastructure and industrial solutions.

He added that the company’s structure had enabled it deliver integrated solutions, while preserving technical depth across business segments.

“For us, progress does not reset with the arrival of a new year. It moves forward, experience deepens, and systems grow stronger. The New Year is not a reset point; it is a continuation of our drive to build year after year,” he said.

He hinted also that company’s model is built around coordination across its divisions, rather than isolated service delivery.

JMG Reaffirms Growth Strategy, Energy Efficiency Goal

SBI Media, TECNO Commit to Youth Empowerment Projects in Lagos SBI Media and mobile tech brand, Tecno have reinforced their commitment to youth empowerment and community development in Lagos with the delivery of two purpose-built football facilities to strengthen grassroots sports and social inclusion.

The initiative, executed under Tecno’s corporate social responsibility (CSR) programme and implemented by SBI Media involved the construction and launch of the Sanwo-Olu Mini Stadium in Sura, Lagos Island, and Alade Pitch on Alade Stadium Road, Alimosho.

Speaking at the projects’ unveiling attended by key private and public sectors stakeholders, Managing Director of SBI Media, Rotimi Bankole informed that the projects estimated at hundreds of millions of naira reflects a deliberate move toward purpose-driven partnerships.

He asserted that the facilities were designed as safe, accessible, and professionally built sporting hubs to serve young people within host communities, with a focus on talent discovery, youth engagement, and social cohesion in densely populated urban areas.

He said the agency was privileged to serve as lead execution partner from conception to delivery, translating the brand’s CSR objectives into permanent community assets.

“This project goes beyond advertising or brand visibility. It is about building infrastructure that empowers young people, strengthens communities, and leaves a lasting legacy. At SBI Media, we are proud to have managed every aspect of this initiative, ensuring that TECNO’s investment delivers real, long-term impact,” he stated.

Indigenous food and beverage company, Rite Foods Limited has reaffirmed commitment to creating positive social impact beyond its core product offerings, as it enters the new fiscal year.

The firm reiterated this during yuletide celebration, noting that its social responsibility agenda aligns with its broader corporate philosophy of innovation, operational excellence, and community engagement.

Managing Director of the firm, Seleem Adegunwa stated further that the philosophy of the organization aligns with the reason for the season, which is to spread joy.

“Christmas is a season that reminds us of the importance of giving, togetherness, and gratitude. At Rite Foods, we are thankful for the continued trust of Nigerians in our brands.

“This season strengthens our resolve to consistently deliver quality products that bring joy to everyday moments while contributing positively to society,” Adegunwa said.

He noted that the firm’s progress in brand acceptance, production efficiency, and responsible business practices reflects a culture of continuous improvement and responsiveness to consumer needs.

“Our operational and research investments are not only aimed at enhancing product quality but also at supporting initiatives that benefit communities across Nigeria,” he added.

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PERSPECTIVE How Will Cardoso and CBN Fare in 2026?

Toni Kan

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s 2026 dawns, Olayemi Cardoso, governor of the Central Bank of Nigeria and his colleagues at the apex bank must no doubt be taking stock and reviewing the bank’s performance in 2025.

Some 12 months before, Cardoso was bemoaning the mess he and his team met at the CBN - severe macroeconomic distortions, surging inflation, evaporated FX liquidity, non-existent external reserves, weakened trust in economic management, unorthodox monetary practices that had eroded confidence and a foreign exchange market that was in paralysis with a backlog of over US$7 billion in unmet FX obligations undermining market integrity and the 60% spread between official and parallel market rates creating distortions.

This year, the financial and monetary policy landscape has changed dramatically. A cursory consideration of the bank’s Monthly Update for December 25, 2025 reads like a catalogue of successes compared to the jeremiads of 2024.

And if anyone was in doubt as to progress made, the Governor’s keynote at the CIBN annual bankers’ dinner on Friday, November 28, 2025 was not just five pages shorter than the 2024 speech it was also different in tenor. It was upbeat and optimist and no doubt a reflection of the positive mood that must permeate the CBN as 2025 ends.

For starters, the word “improved” appeared 24 times in the 14 pages. Hear him: “I am pleased to report meaningful progress on all three fronts, even as we remain fully aware of the work ahead. Our actions continue to reflect the policy direction we articulated from the outset, in other words, we said what we would do, and we have done it, transparently

and consistently.”

That policy direction has seen positive results on many fronts in what Cardoso described as an economy that “has transitioned from crisis management to laying the groundwork for a sustainable recovery.”

The Nigerian economy grew by 4.23% in the second quarter of 2025, higher than the IMF/World Bank’s projection of 3.8% for sub-Saharan Africa. Inflation, while still in double digits, has dropped by over half from a peak of 34.6% in November 2024, to 14.45% in December reflecting over 7 months of consistent disinflation.

This, Cardoso noted, has not only restored “real purchasing power for households and businesses,” but has also borne out the apex bank’s insistence on a “disciplined execution and Nigeria’s return to orthodox monetary policy.”

While the Monetary Policy Rate (MPR), a key inflation moderating tool remains at 27%, Cardoso has noted that with the apex bank’s modelling pointing to continued disinflation in 2026, the policy rate will be calibrated in line with evolving data.”

Once the $7bn FX backlog was cleared, the CBN focused on reducing opacity, removing manipulation, and restoring discipline to the foreign exchange market in other to reap the benefits of the exchange rate unification. The result has been a huge contraction in the gap between the official and parallel market rates which has shrunk from 60% to 2% with the naira closing the year at N1,442.51 to the dollar.

The sanitisation of the foreign exchange market and strengthening of the naira was supported and buoyed in large part by the introduction of the Nigerian Foreign Exchange Code which established and insisted, according to Yemi Cardoso, on “clear rules for transparency, ethics, governance, and fair dealing among authorised dealers while the deployment of the

Electronic Foreign Exchange Management System (EFEMS) system, powered by Bloomberg BMatch, has transformed FX trading through mandatory order submission, real-time regulatory visibility, and enhanced price discovery.”

The result? Market stability and enhanced investor confidence seen in a 70% increase (US$20.98 billion) in foreign capital inflows in the first ten months of 2025 compared to total inflows for 2024. For further context, the figure reflects a 428% surge compared to the US$3.9 billion recorded in 2023.

The improved conditions have also been evident in accretions in foreign reserves which grew from $40bn in November 2024 to a seven year high of US$46.7bn by mid-November 2025 “providing over 10 months of forward import cover and significantly enhancing the economy’s resilience.”

Cardoso was quick to point out that the increase has been organic. According to the CBN governor “what is most important here is that our FX reserves are being rebuilt organically, not by borrowing, but through improved market functioning, stronger non-oil exports, and robust capital inflows.”

While some analysts have remarked on the high proportion of foreign portfolio investments versus foreign direct investments regarding the foreign reserves, they seem to discount the contribution of diaspora remittances which increased by approximately 12% in 2025 thanks to the launch of the Non-Resident BVN in January.

Foreign capital inflows are expected to grow further in 2026 as awareness heightens around the Non-Resident BVN and as Nigeria begins to reap the benefits of its exit from the grey list of the Financial Action Task Force (FATF) following what Cardoso described as “a coordinated national effort led by the Federal Government, with critical contributions from the Central Bank of Nigeria, the Ministry of Justice, the NFIU, the EFCC, and our regional partners.”

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Beyond Public Office, Kemi Adeosun Reflects on Tax Reform, Social Impact Salami Adeyinka

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igeria’s former Minister of Finance, Kemi Adeosun, who served under President Muhammadu Buhari from 2015 to 2018, has reflected on her years in public service, the country’s tax reforms, personal trials, and her post-government commitment to social impact and philanthropy.

Speaking recently, Adeosun stressed that Nigerians must embrace tax compliance if the country is to achieve prosperity.

During her tenure, Adeosun implemented a number of farreaching fiscal and institutional reforms aimed at strengthening transparency, efficiency, and accountability in public finance.

One of the most notable was the introduction of the Whistleblower policy, which became a powerful tool in the fight against corruption. Through the policy, the federal government recovered N554.047 billion, while an additional N13.8 billion was recovered from companies involved in tax evasion. The initiative rewarded citizens who provided credible information on financial crimes and helped expose entrenched corruption.

Adeosun also established the Efficiency Unit, designed to reduce waste and improve value for money in government spending. Through tighter controls and better management practices, including cuts in expenditure on stationery and consumables, the unit recorded significant savings. In 2016 alone, N34 billion was saved on office stationery and computer consumables compared to the previous year.

She further strengthened the Treasury Single Account (TSA) policy, which helped uncover and eliminate ghost workers, a reform she had earlier implemented during her tenure as Commissioner for Finance in Ogun State. Under her leadership, the continued enforcement of the Bank Verification Number (BVN) policy was also ensured, while the Nigeria Customs Service adopted software solutions to enhance operational efficiency.

Adeosun’s time in office also saw improvements in

Adeosun transparency in payment systems, procurement processes, and government asset management. The harmonisation of insurance processes for government assets and liabilities across Ministries, Departments, and Agencies (MDAs) was prioritised. In addition, the Green Bond and Sukuk Bond initiatives were launched under her watch, leveraging her experience in the capital market to support sustainable development and infrastructure financing.

Adeosun stressed that Nigerians must embrace tax compliance if the country is to achieve prosperity.

She noted that tax was one of the problems she tried to tackle during her tenure with the VAIDs programme that allowed an amnesty for those who had evaded taxes.

“Every citizen must come clean to declare what his or her assets and incomes are,” she said.

Commenting on the broader management of Nigeria’s economy, she acknowledged its complexity, stressing that macroeconomic indicators alone are not enough if ordinary citizens do not feel tangible relief.

“Managing an economy is not football, where you get a result in 90 minutes; there is a lag that is never simple, and Nigeria’s situation is particularly complex. At the macro level, we’ve seen indicators that give reason for some optimism,” she stated.

Reflecting on the controversy that followed her tenure, Adeosun said, “Powerful interests wanted me out, saying No is part of the job, so naturally, you create enemies.”

She had been cleared of all the NYSC certificate allegations by a court of competent jurisdiction.

She added that her professional body, the Institute of Chartered Accountants in England and Wales (ICAEW), also investigated the matter and fully vindicated her.

“I’m human. So yes, I know I could have stayed. I still have a draft of a statement I was told to issue by ‘one of the major actors, sent from his personal e-mail.

I recall reading it, knowing that I could not issue it with a good conscience, since it was factually incorrect and I would be held accountable.

“I knew in my heart my tenure was over, not because I didn’t have a path forward, but because my principles would not allow me to take it. However, now and again, I do think about the what-ifs. It was a difficult path to take.”

Understanding Fubara’s Opossum Strategy Austin Tam-George

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he Governor of Rivers State, Siminalayi Fubara, seems to have a strategy for surviving political storms. We may call this the “Opossum Strategy.”

In the animal kingdom, the opossum survives through a combination of tact, patience, and strategy. When threatened by a pack of predators, the opossum collapses into stillness, mouth open, tongue out — pretending to be dead and even emitting an unbearably foul smell.

When the predator loses interest and lets its guard down, then, at the perfect moment, the opossum springs back to life and makes a frantic escape.

For centuries, the opossum’s capacity for tact and surprise in the face of existential threats has been studied and adopted by war strategists, political actors, behavioural psychologists, and even start-up entrepreneurs seeking to disrupt dominant markets through innovation.

In Rivers State, Governor Fubara’s recent

political manoeuvres suggest he may have borrowed a page from the opossum’s disruptive playbook.

For months, Fubara was portrayed as politically cornered and weakened by intractable political battles. Although he was an important member of the Peoples Democratic Party (PDP), he appeared isolated from the party’s powerful blocs, undermined by influential rivals, and perpetually on the defensive Observers interpreted his silence and restraint as signs of weakness or cowardice.

Across social media, memes portrayed Fubara as a general who capitulated and abandoned his troops.

But in politics, perceived weakness can be disarming. Rivals who believe an opponent is finished often become overconfident.

They misjudge their own leverage and assume they can dictate every outcome.

By “playing dead” when a state of emergency suspended him from office for six months; and even publicly declaring that his “spirit” had left the Rivers State

Read full article online - www.thisdaylive.com

approach and work with Governor Fubara to accelerate development for the benefit of Rivers State.

Further attacks on Fubara’s pro-people Government House, Fubara allowed his agenda in Rivers State may now be interpreted adversaries to relax their vigilance. This as attacks on President Bola Ahmed Tinubu’s was a classic opossum move. strong emphasis on reconciliation, tolerance, Fubara’s strategic pivot to the ruling and accommodation within the APC fold.

All Progressives Congress (APC) has The opossum’s lesson is simple: in politics, therefore been seen by observers as a restraint can be a form of power. What stunning political resurrection from the appeared to be passivity may, in fact, have graveyard to which his adversaries had been a deliberate recalibration of forces. consigned him.

Fubara’s strategic restraint appears to have The move reshapes the political been a deliberate pause before a calculated landscape by realigning federal support, shifting institutional influence, and forcing dash for political freedom and leverage.

As the leader of the governing APC in opponents to reassess their positions. Like Rivers State, Fubara must now continue to the opossum, Fubara did not confront place the needs of the people at the centre of his predators directly; instead, he relied public policy and governmental action on timing and surprise to gain the upper His ongoing efforts to transform critical hand.

In Nigerian politics, proximity to federal sectors such as health, housing, education, rural development, and sustainable livelihoods power often matters more than party must continue with more vigour, in alignment labels. By repositioning himself, Fubara may have neutralised threats and created the with the United Nations Agenda 2030 and the political space required to govern effectively. Renewed Hope aspirations of the APC. This is a critical moment for all stakeholders, especially members of the Rivers State Read full article online - www.

House of Assembly to reconsider their thisdaylive.com

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T H I S D AY, T h e sat u r day N e w s pa p e r J A N U A R Y 3 , 2 0 2 6

PERSPECTIVE Whither Kogi Government in Security Flares in Kogi West?

Tunde Olusunle

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requent invasion of unsuspecting communities; random abductions-for-ransom and killings in Kogi West Senatorial Zone compel the question: Exactly what role is the administration of Governor Ahmed Usman Ododo playing in the mitigation of insecurity in the district?

In the age of the internet, information processing and dissemination are real-time. Happenings in Sokoto in the North West; Borno in the North East; Kwara in the North Central; Oyo in the South West; Edo in the South South and Enugu in the South East are relayed via terrestrial channels, instantaneously, and the world is aware and abreast by the minute. Responsive governments swing into action immediately, tracking the criminals and dialoguing with them to secure the safe release of victims.

Apart from their well-earned prominence in the media owing to their positive, productive and impactful service to their constituents, Governors Baba Gana Zulum of Borno, Umaru Bago of Niger, and Abdulrahman Abdulrasaq of Kwara states have been seen on several occasions, receiving freed abductees.

The victims of the gunmen’s attack on the Christ Apostolic Church, (CAC), Eruku, Kwara State, on November 19, 2025, were released to Governor Abdulrasaq on Sunday November 23, 2025. It is a measure of the direct involvement of the Kebbi State Government in the management of the kidnapping on November 19, 2025, of 25 students from the Government Girls Comprehensive Secondary School, (GGCSS), in Maga, Kebbi State, that Governor Nasir Idris frontally challenged the security sector for ignoring the actionable intelligence which he provided well ahead of the invasion of the school.

The victims of the abduction were released on November 26, 2025, following the direct intervention of President Bola Tinubu, who dispatched the Minister of State for Defence, Bello Matawalle to Kebbi State immediately after the incident, to lead the rescue operation.

The 315 schoolchildren who were taken by hoodlums from St Mary’s Catholic School, Papiri, Niger State, Friday, November 21, 2025, were released in batches to Governor Umaru Bago, with the last group gaining their freedom on Monday, December 29, 2025. All of these attest to the genuine concern of the leaderships of the states under reference and the federal government, for the safety of their citizens, where the guarantee of the safety and security of the citizenry is the foremost responsibility of leadership.

It is common knowledge that Kogi West has been the unfortunate hotbed of a motley of criminal activities. The wilful invasion of settlements and communities by vagrants; the audacious blockage of roads and highways in the district; attacks and kidnappings from homes, farms and churches, have become dangerously recurrent. Monday, June 16, 2025, 72-year-old farmer and Chairman of the Kogi State Poultry Farmers Association, Samuel Ajayi Bello, was kidnapped from his farm in Ponyan, Yagba East local government area. Chief Ajayi a diabetic, who was released several weeks after upon the payment of a hefty ransom, was denied access to his medications while in extended captivity.

Sadly, he had one of his legs amputated after the horrific incident, no thanks to gangrenous infection. Tuesday, October 21, 2025, Moses Tuesday Omokore, younger brother of the business mogul, Jide Omokore and his wife were abducted from their home in Idofin, Isanlu, Yagba East council area and a N100million placed on them.

Weeks after the Eruku incident, terrorists attacked the Cherubim and Seraphim Church in Ejiba, Yagba West local government area Sunday, November 30, 2025, and took with

Ododo them the Pastor, his wife and some parishioners. Sunday December 14, 2025, armed men on motorcycles violated the Evangelical Church Winning All, (ECWA) in Aiyetoro-Kiri community in Kabba-Bunu council area and took at least 30 residents of the sleepy settlement with them. Videos of the victims of the Aiyetoro-Kiri incident were made by their captors who kept them under very inhuman conditions. The hoodlums initially pursued the hard-line that they would only negotiate the release of their victims with the state government. The trademark insensitivity and nonchalance of the Kogi State Government, however, compelled the kidnappers to negotiate with community representatives. Out of “magnanimity,” they have dropped their demands to N20million. The Bunu Development Association, (BDA), recently told newsmen in Lokoja the Kogi State capital, that 21 villages in Bunuland had been sacked by marauders; 30 residents killed and 50 people still in captivity, following accentuated terrorism in recent months.

In all of these incidents, the response of the Kogi State Government has been at best tepid, if not totally unavailable. True, Ododo paid a fleeting visit to Isanlu-Esa in Yagba West on Monday, October 6, 2025 following the sacking of Okunran, Okoloke and Isanlu-Esa communities by kidnappers and killers. He was indeed pictured in military camouflage even as he promised that his administration would be ruthless with criminals.

That so much evil, so much trepidation, sorrow, tears, and blood have been visited on Kogi West in the aftermath of Ododo’s whistle-stop in Yagbaland attests to the ineffectuality of the battle-cry issued by Governor Ododo on that visit, three months ago now. The people have been practically left helpless and hapless, a situation which continues to task the resources of elected representatives of the zone and well-meaning, well-to-do individuals.

Following the abductions of the traditional ruler of Okoloke in Yagba West, Oba Dada Ogunyanda, on Thurs-

Scalability of Nigerian Telecoms Sector in 2025: What Glo Did Differently Emefu Ibeayoka

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igeria’s telecommunications sector in 2025 resembles a vast, humming artery—pulsing with life, indispensable to national survival, yet occasionally constricted by pressure points that test its endurance.

With more than 175 million active voice subscribers and broadband increasingly central to commerce, governance and social life, telecoms has become the quiet architect of modern Nigeria. It is the unseen hand behind mobile banking alerts, virtual classrooms, telemedicine consultations and the daily choreography of business. Yet, for many users, the promise of seamless connectivity still flickers like a wavering signal on a crowded mast.

The challenges are well rehearsed: dropped calls, inconsistent data speeds, congestion and uneven coverage between urban centres and rural communities.

These frustrations, magnified in 2025

despite tariff adjustments and industry assurances, reveal a deeper truth—scalability without resilience is an illusion.

A telecom sector may grow in numbers, but without quality, stability and foresight, expansion becomes fragile, even hollow.

Here, the role of regulation has been both necessary and defining. The Nigerian Communications Commission has increasingly positioned Quality of Experience as the soul of sectoral growth, recognising that connectivity must be felt, not merely measured.

Through tighter benchmarks, performance analytics and a renewed emphasis on broadband depth rather than superficial reach, the NCC has sought to recalibrate the industry’s compass. Its task is unenviable: to balance consumer protection with operator sustainability in a landscape burdened by energy instability, infrastructure vandalism and right-of-way complexities. Yet, regulation remains the scaffolding upon which long-term telecom stability must rest.

Within this demanding environment,

Globacom has pursued a path that diverges quietly but decisively from the conventional race for scale. Rather than chasing volume alone, Glo has invested in foundations—in fibre, capacity and digital architecture that favour longevity over spectacle. Its sustained reinforcement of optic fibre networks, both terrestrial and submarine, is akin to deepening the roots of a great tree: unseen by many, but essential to resilience against storms.

This infrastructure-first philosophy has practical consequences for subscribers.

Strengthened fibres mean improved stability; expanded capacity translates into better speed; thoughtful optimisation delivers comfort in usage. In a sector where the noise often lies in marketing claims, Glo’s difference is written in engineering choices and capital discipline.

Its investments signal patience, a belief that the future of telecoms is not built on haste, but on depth.

Equally notable is Glo’s commitment to affordability as a moral and economic imperative. In a country where digital

day May 15, 2025, and Chief Ajayi Bello, weeks later, Sunday Karimi, Senator representing Kogi West Senatorial Zone, and Leke Abejide, Member Representing Yagba federal constituency in the House of Representatives, were among those contacted to crowdfund the ransom demands. Oba Ogunyanda for example was only released upon the payment of a N20million ransom, with Karimi and Abejide being substantial contributors to the effort.

Karimi and Duro Meseko, Deputy National Publicity Secretary of the All Progressives Congress, (APC), who is from Bunuland in Kabba-Bunu council area, have been contacted to support efforts being polled for the release of the Aiyetoro-Kiri captives.

As a Member Representing Kabba-Bunu/Ijumu federal constituency in the House of Representatives years ago, Tajudeen Yusuf, it was he who paid the bulk of the ransom demanded by the abductors of the man who would later succeed him, Salman Idris. Yahaya Bello was the sitting governor of Kogi State and was reportedly nonplussed and totally unconcerned by the incident.

The pattern has remained the same as bloodhounds continue to cash in on the vulnerability of local communities, bleeding the resources of the public-spirited. Criminality has become a thriving enterprise in the traditionally clement and welcoming Kogi West.

With so much fiscal exertion repeatedly devolving on private individuals and the personal resources of a handful of public officers, it becomes imperative to interrogate the depth of the commitment of the Kogi State Government to mitigating insecurity in Kogi West. Recent media reports have indeed pointedly accused a former governor of the state as being the precipitator of insecurity in Kogi West, arising from his involvement in illegal mining activities in the mineral-rich zone. The incumbent governor is said to be incapable of any security containment strategy for the troubled senatorial district because he is a pliant, whimpering beneficiary of his predecessor who is incapable of dissent in any way. Except for the visible initiatives of Karimi, Abejide and specific communities, there seems to be no visible plan, no discernible strategy to restore order and sanity to the troubled Kogi West.

Karimi in October 2024, completed the development of a Forward Operating Base, (FOB), domiciled in Egbe, Yagba West, capable of accommodating 100 troops, and provided operational vehicles. The complex was commissioned by a representative of the erstwhile Chief of Army Staff, the late Lt. Gen Taoreed Lagbaja. Abejide recently launched an Operation No Mercy which is made up of trained vigilantes who will complement the efforts of existing security outfits.

Their area of responsibility, (AOR), is Yagbaland, made up of Mopamuro, Yagba East and Yagba West councils. Clearly, these lawmakers are doing beyond their briefs to make up for lacunas precipitated by chronic state failure.

With so much resources accruing to the Kogi State Government from the federation account as statutory allocation; value added tax, (VAT); ecological funds, excess crude and indeed 13 percent derivation for oil producing state, governance ineptitude in the state is inexplicable. It is a total shame if a state which has produced a Chief of Defence Staff, (CDS); three Chiefs of Army Staff, (COAS), including the incumbent; two Chiefs of Air Staff, (CAS); one Chief of Naval Staff, (CNS); one Inspector-General of Police, (IGP) and two Chiefs of Defence Intelligence, (CDI), cannot develop a template to manage seething insecurity in one of its districts. It is evidence of glaring lack of capacity and sheer incompetence.

The people of Kogi West may be inclined to believe the conspiracy theory in the security unsettledness in the zone as defined by the state government’s continuing inertia. Except that the government acts swiftly to take charge of the drift.

Olusunle, PhD, Fellow of the Association of Nigerian Authors (FANA), teaches Creative Writing at the University of Abuja

access can still exact a heavy cost on household income, pricing becomes policy by another name. Through competitive data offerings, tailored promotions and inclusive plans, Globacom has worked to democratise access—bringing students, SMEs, women-led enterprises and rural entrepreneurs into the digital conversation.

Connectivity, in this sense, becomes a social equaliser, shrinking distances that geography and inequality once enforced.

Beyond individual users, the ripple effects are profound. Reliable telecom infrastructure strengthens public sector delivery, enhances private enterprise efficiency and supports emerging digital ecosystems across states and sectors.

From health facilities relying on stable communication to small businesses navigating digital payments, the telecom network functions as a silent partner in productivity. In rural communities especially, access is transformative—turning isolation into participation and subsistence into opportunity.

Globacom’s vision also extends beyond Nigeria’s borders, reinforcing regional connectivity and positioning the country as a digital bridge within

West Africa. Such outward-facing infrastructure investments quietly amplify Nigeria’s economic relevance and technological voice in a connected continent.

As the curtain falls on 2025, the Nigerian telecoms story is one of tension and promise—an industry aware of its shortcomings, yet rich with possibility. The path to 2026 invites cautious optimism. Ongoing infrastructure expansion, improving network stability and a renewed focus on user experience suggest a gradual easing of old frustrations.

For Nigerians, Globacom’s trajectory offers reassurance. It speaks of continuity rather than quick fixes, of fibre laid today for demands not yet imagined.

If sustained, this approach promises a 2026 where connectivity feels less like a daily struggle and more like a dependable companion—supporting enterprise, empowering communities and affirming telecoms as not merely a service, but a cornerstone of national progress.

In that quiet confidence lies hope: not loud, not hurried, but deliberately built—strand by fibre strand—into the digital future of Nigeria.

Ibeayoka, a Public Affairs analyst, wrote in from Mbaise, Imo State

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T H I S D AY, T H E S AT U R D AY N E W S PA P E R • SATURDAY JANUARY 3, 2026

BACKPAGE CONTINUATION BECAUSE PDP LACKS A TONY ANENIH TODAY Jonathan was not alone in this call.

Why? What did Anenih do for the party as member and leader? How did he fair with other similarly powerful leaders of the party? Would the PDP be where it is today if it still had men like Anenih, or individuals who can play the various roles he played for the party when it really mattered? Just look at the PDP today.

It is neither an opposition party nor a strategic contender in the national political power equation. I once accused the PDP of “rumour mongering”. This was in an article which appeared on this page on August 7, 2020, titled “PDP and Rumour Mongering”, wherein I stated as follows: “To call the PDP an opposition party, or to tag it the major opposition party in Nigeria today, is to take one “necessary” condition for real opposition party politics for a “sufficient” condition that qualifies a party for that appellation. Just as there are necessary and sufficient conditions for any creature to be called a python, or an eagle, there are also necessary and sufficient conditions for serious opposition politics. Chief Obafemi Awolowo, among others, met the necessary and sufficient conditions in this regard, because he had both an ideological distinctness and an engagement strategy that stood out in bold relief. The PDP has none of the above at the moment. It also does not seem to be working towards transmuting into an intelligent opposition that can take over power and offer better leadership. It is not a coherent and articulate opposition by any stretch of the imagination today”.

The article continued with this question: “Can we say in all good conscience that the PDP has a genuinely respected Council of Elders that can call anyone to order today?”

That was five years ago, less than ten years after the party was clobbered and shaken out of office and power by the APC. The PDP now has no Inner Chamber of ultimate summons, presided over by an Enforcer who could call anyone with mischievous ideas or aspirations to ask him these simple but largely unanswerable questions in the realm of politics: (1) What

is wrong with you? (2) What do you think you are doing?

As simple as they sound, I cannot think of how many politicians then and now could have stood before Anenih to answer these questions looking him in the eye.

It was Anenih who, during the Second Republic, chaired the initially questionable and relatively unpopular National Party of Nigeria (NPN) in the old Bendel State and transformed it into the incredibly popular party with which he defeated the no less popular Governor Professor Ambrose Alli at the time.

His role and impact were obvious in the building of what turned out at the time to be Nigeria’s first people-owned and real national party, the Social Democratic Party (SDP). Consider how he deftly facilitated the political fortunes of his friend, whom he literally took by the hand and sold him across the nation as the SDP presidential flag bearer.

Today, there is no one in the PDP who can hold the party together and help it keep whatever is left of its wretched image, not to talk of conquering new grounds.

Tony Anenih’s smooth, noiseless, wellthought-out and strategic interventions, which gave him a staying power that very few politicians have ever commanded in our national history are missing in the PDP. Under him, the PDP was both an election-winning machine and a widely dominant political party.

The PDP must either find someone with Anenih’s consultative skills, basic everyday sagacity, and reputation as a bridge builder or continue its present ignominious slide to oblivion. The Nigerian political space today does not feel the presence, or impact of the PDP. It is noted for quarrels, such that no one can say for sure who its principal officers are.

Anenih helped to quell the somewhat over-ambitious aspirations of former Vice President Alhaji Atiku Abubakar, who wanted to unseat his principal, Olusegun Obasanjo. Truth be told, not many in this country can speak of wielding the type of influence he wielded without holding public office. In about four

decades, his influence has produced Dr Samuel Osaigbovo Ogbemudia (the old Bendel State), Chief John Odigie-Oyegun, Chief Lucky Igbinedion and Professor Oserheimen Osunbor as Governor in his native Edo; he has also recommended many across the country for ministerial and other appointments. We say nothing about Senators, members of the Houses of Assembly and representatives since 1999.

Today, the PDP is not even and intelligent opposition party.

As was said on this page, on May 10, 2025, “…we must make a distinction between a set of angry people, all of them convinced that a lot is wrong with the country, and an organized political opposition with demonstrated capacity for effective interventions in the political space. An opposition party must first keep its house in order, and this is something the PDP is not doing. A serious opposition party should also be in control of its own gates and determine the Rules of Engagement for all movements into and out of its premises. The party is remiss in that regard, and has been for a long time now”.

The article continued: “The party recently complained of being destabilized from outside by the APC and its agents, implying and proclaiming to the world that it lacked internal cohesion and has limited capacity for serious political strategizing. It cannot sack, reign in, or manage Nwesom Wike. It also cannot now have a credible NEC meeting anymore, or issue a clear resolution on any issue; including whether it should meet or not.

And its members are fleeing the fold in droves”.

The PDP is currently not walking, or working, towards transmuting into an intelligent opposition that can take power and offering better leadership. It is not a coherent and articulate organization anymore. It is performing disastrously as an informed, organized, focused and articulate opposition that is an essential component of the modern democratic enterprise.

It is not the strong opposition needed to

2026: TURNING ECONOMIC POTENTIAL INTO PROSPERITY

security surveillance, alongside gains from enhanced domestic refining capacity.

President Bola Tinubu should follow through on his pledge of stricter budget discipline in 2026. This is essential in ensuring that government finances are well-managed, to spur fiscal discipline and support financial stability.

Nigeria’s enormous economic potential, due to its abundant resources and growing population, has been widely reported. The country has the potential to manufacture many products that are currently being imported. Its investment appetite is huge and driven by many opportunities, and the level of return on investment in the country.

The country’s economic growth and investment over the years have been hampered by weak governance, corruption, infrastructure deficit, and poverty, among others. Its harsh business environment has been largely attributed to a lack of the government’s commitment to policy execution, as successive governments would always declare their intention to support business

operators, but end up most of the time not living up to their promise.

Without resolving the power sector crisis this new year and ensuring that Nigerians have access to reasonably priced energy, the country cannot hope for significant national economic growth.

In 2026, investing strategically in sectors such as agriculture, manufacturing, and technology can create new avenues for growth, employment, and export earnings, reducing vulnerability to global oil price fluctuations. The non-oil sector has huge potential for foreign exchange earnings and can bring about huge employment generation and poverty reduction through the extensive backward linkages it offers.

In addition, simplifying regulations, streamlining bureaucratic processes, and fostering a more predictable business environment are not just desirable goals but essential for Nigeria to reach its full potential.

Also, creating a more business-friendly climate would signal to international investors that Nigeria is open for business and would encourage the

growth of small and medium-sized enterprises, which are the backbone of any economy. It also reduces opportunities for corruption, promotes a level playing field for businesses, increases public trust in government, and enhances the country’s global competitiveness by making it more attractive for trade and investment in the long term.

The new tax laws must be implemented with a human face so as not to create an additional burden on Nigerians. By addressing these concerns, it would be easier for domestic and foreign investors to do business in the country.

In the area of security, the spate of killings and displacement in some parts of the country has pivoted the world’s attention to the risk and fragility of Nigeria. There is therefore the need for the country’s security agencies to ensure that peace and stability are restored to troubled communities and for people to live without fear.

The Nigeria we all want would be a mirage if good governance is not accorded its rightful place in addressing insecurity.

keep a sitting government on its toes, and keep everyone focused on what could be done better or at least what could be done differently. Its alleged opposition leaders recently called on the National Assembly to oppose President Bola Tinubu’s declaration of a state of emergency in Rivers State.

There were no quiet strategy sessions with their lawmakers or members of their parties across the nation before and after the media outing. Worse still, their elected members later sat through the proceedings and made no objections as State of Emergency went unchallenged in the National Assembly.

When Alhaji Atiku Abubakar spoke on behalf of the opposition leaders at a press conference at the Yar’Adua Centre in Abuja, he called on Nigerians to resist and urged the judiciary to strike out the President’s declaration of a State of Emergency in Rivers State. He was speaking on behalf of several party leaders, including those of questionable political address and ideological coloration. He also said: “We strongly condemn this development and call on all Nigerians of good conscience to resist this brazen assault on the constitution of our country and the institutions of our democracy.

We call on patriotic Senators and Representatives to vote against this illegal action when it comes before them for approval”.

Would this be the trajectory of the conversation if a man like Tony Anenih was here? I think not. The party has too many hot house plants today. They are called party stalwarts, but would have been more of easily discountenanced warts in the party fold than stalwarts.

The looming danger is that the party may end up with no candidates for the coming elections, if it does not quickly pull itself together and tell Nigerians whether it has any party officials and who they are.

Partly, or largely, because it lacks “An instrument of phenomenal political value” for ringing the bell for the gathering of wits, and for broad-based strategic political engagement.

Governance must focus on addressing the growing dissatisfaction, discomfort, and distress within the larger society, just as efforts must be made to abate corruption, tackle the country’s high unemployment rate, poverty and fix the country’s decaying infrastructure.

Another thing that is essential in unlocking growth opportunities in this new year is reforming the country’s outdated Land Use Act. This can unlock vast opportunities in real estate taxation and capital formation.

The country is in urgent need of a trade policy that is coherent, predictable, growth-oriented and aligns with the complexities in the global trade environment. Policymakers must target policies and programmes that encourage local production, reduce structural import dependence, and enhance the country’s competitiveness in both the regional and global markets.

With this, Nigeria can unlock its vast potential, attract investment, create jobs, and improve the lives of its citizens in 2026 and beyond.

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Super Eagles Vista Bright for Fourth AFCON Glory

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Super Eagles

Vista Bright for Fourth AFCON Glory Nigeria’s dream of a fourthAfrica Cup of Nations title seems to be taking shape after the Super Eagles won all their group stage matches to earn a 100 per cent record.By topping Group C,the three-time African champions have been handed a relatively‘easy’round of 16 encounter against Mozambique, a side Nigeria are yet to lose to after five previous meetings. All things being equal, come January 5, without any disrespect to the Mambas,the Eagles should easily book a quarter final ticket

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hough the Super Eagles Chief Coach, Eric Chelle admitted that the round of 16 of the ongoing Africa Cup of Nations in Morocco comes with lots of pressure, but said he was comfortable with the expectations that come with progressing to the last 16, insisting pressure had been a constant since his arrival.

“The round of 16 is a lot of pressure, for sure, but I am fascinated by that.

Since I arrived, I have had a lot of pressure and I feel good,” Chelle said.

The Super Eagles of Nigeria will clash with the Mambas of Mozambique for the sixth time at the senior level, as both teams go for each other’s jugular in one of the Round of 16 games of the ongoing 35th Africa Cup of Nations finals in Morocco.

The 35,000-capacity Complexe Sportif de Fès, which has been home to the three-time African champions in their entire Group C campaign, will be the venue for the encounter that will commence at 8pm on Monday, January 5.

Nigeria completed a perfect group campaign with three wins from three matches, finishing with nine points and setting up a round of 16 clash against Mozambique on Monday in Fez. Speaking at his post-match press conference, Chelle said: “I feel good because the town is perfect, the hotel is perfect and the atmosphere is perfect.”

The coach noted a calmer approach on the touchline compared to his previous tournament experience, stressing the importance of focus and daily work.

“We are calm and, if you watch the game, I think I am calmer than at the last AFCON. I try to stay focused during the game, only on the game. I have my vision. Sometimes it is very good, sometimes it is bad. That is football. We work every day and the team works hard,” he said.

Chelle also spoke positively about Nigeria’s base in Fez, despite challenging weather conditions, as preparations continue for the next round.

“I am very happy to stay in Fèz because the town is good and calm. The people are very nice to us. We are focused and we have our base. We can do a lot of training sessions,” he said.

“Even if the weather is difficult because it is cold, we work. Today was a game to try something different.”

Despite the convincing group-stage finish, Chelle insisted improvement remains essential if Nigeria are to challenge for the title.

“I am happy about the victory, but we have to improve again. If we want to be ambitious, we have to improve again.”

Super Eagles seal perfect Group C run with 3-1 win over Uganda

Nigeria swept through their group phase campaign like the harmattan, scoring eight goals and conceding four. Ademola Lookman and Raphael Onyedika have scored twice each, with Semi Ajayi, Victor Osimhen, Wilfred Ndidi and Paul Onuachu supplying the other goals.

Mozambique lost their opening game to Cup holders Cote d’Ivoire, but then dug their feet into the ground to triumph over Gabon, before losing 1-2 to Cameroon’s Indomitable Lions on Wednesday evening.

If the Mambas group results is anything to go by, Monday’s confrontation is expected to be relatively easy for Nigeria, as the young Mambas have demonstrated incapability to stand toe-to-toe with the big teams.

Chelle admitted that the depth of the squad now presents him with difficult decisions ahead of the knockout phase, a situation he welcomed.

“Now I have a little pain in my head because I have to make a lot of choices, because everybody can play in this team, and that is perfect for me,” Chelle concluded.

Meanwhile, Lookman has insisted

that there is no particular team he wants Nigeria to avoid in the knockout stage of the 2025 Africa Cup of Nations.

The Atalanta player expressed his respect for all teams, emphasising that for the Super Eagles to win the AFCON title, they must compete against the best.

“No team we want to avoid. I’ve respect for everybody,” Lookman stated at his post-match interview when asked which team he wants Eric Chelle’s side to avoid in the knockout stage.

“If you want to win a tournament you need to play the best. We want to continue to win the games, face everybody in this competition, so we are looking forward to the teams to come ahead. “ Of their five previous confrontations, Nigeria have been victorious on four occasions, including their only AFCON encounter way back in Lubango, Angola in January 2010, in which the Eagles ran away with a 3-0 win. Nigeria won a friendly match in Maputo in August 1999 by the odd goal and won another one in Portugal in October 2023 by 3-2, while 2010 FIFA World Cup qualify-

ing matches ended 0-0 in Maputo and 1-0 in Abuja, with Obinna Nsofor scoring five minutes into added time to keep alive Nigeria’s World Cup hopes.

ROUND OF 16 MATCHES Fixtures Today Mali vs Tunisia Morocco vs Tanzania

Sunday

Algeria vs DR Congo Egypt vs Bénin Rep

Monday

Senegal vs Sudan Nigeria vs Mozambique

Tuesday

South Africa vs Cameroon Burkina Faso vs Cote d’Ivoire

Head-to-Head

17/08/99: Mozambique 0-1 Nigeria 29/03/09: Mozambique 0-0 Nigeria 11/10/09: Nigeria 1-0 Mozambique 20/01/10: Mozambique 0-3 Nigeria 16/10/23: Mozambique 2-3 Nigeria

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Joshua coming out of the wrecked car

Eric Chelle and his side warming up for Mambas challenge

Chelle Paid in Full as Players Await AFCON Bonuses

Nigeria’s Africa Cup of Nations camp remains financially stable,despiteoutstandingplayer bonuses, with Super Eagles head coach Eric Chelle fully paid and focused on the team’s knockoutstage challenge, Soccernet.ng reports.

Reports from Morocco suggest that the Nigeria Football Federation (NFF) has settled all salary obligations owed to Eric Chelle, including his January 2026 pay.

This is expected to ease concerns about distractions off the pitch as Nigeria prepare for the Round of 16 clash against Mozambique.

According to Nigerian sports website Sports Unlimited via The Punch, a reliable source inside the Super Eagles camp in Fez confirmed that the French tactician is in a ‘good state of mind financially’ and fully motivated to push Nigeria deep into the tournament.

AFCON 2025

Chelle has overseen a flawless group-stage campaign, guiding the Super Eagles to three wins from three matches, including a 3-1 win over Uganda on Tuesday. The Franco-Malian tactician will now leads his side into Monday’s knockout tie against the Mambas.

It is claimed that Chelle has earned $60,000 from match bonuses, calculated at $20,000 per game, alongside a daily camp allowance of $400 since the team opened camp in Egypt in early December.

Chelle is reportedly on a $55,000 monthly salary and is midway through a two-year contract, with outstanding arrears now fully cleared.

Financial backing has also come from the Nigerian government, which has reportedly released 3 billion to support the

Super Eagles’ AFCON 2025 campaign in Morocco.

However, sources say the NFF is still expecting additional funds to meet the rising costs of a prolonged tournament run.

While coaching salaries are settled, Super Eagles players are still awaiting their tournament bonuses, including a promised $30,000-per-player reward for reaching the Round of 16.

No appearance or win bonuses have yet been paid since the start of the competition.

The NFF had initially proposed a $15,000 bonus for qualification to the knockout rounds, but players successfully negotiated a higher figure, with the federation eventually agreeing to double the amount.

Additional bonuses are expected should Nigeria defeat Mozambique, with further incentives lined up for a quarter-final appearance. If

Dessers Returns to Club as Alebiosu, Nnadi Sit Out Training Cyriel Dessers will not club for further assessment. cap-tying appearance against make his Africa Cup of Na- His inclusion in Nigeria’s Uganda three days ago, attended tions debut this month as the final Afcon squad had sparked Friday’s session as a spectator former Rangers striker has debate as he had been out of while continuing his recovery.

Zulte Waregem midfielder been ruled out of the ongoing action for several weeks, only tournament in Morocco due returning to club football on Tochukwu Nnadi also missed November 30. training, sidelined with a cold. to fitness concerns.

Meanwhile, Super Eagles A press release shared with The 31-year-old featured in allnigeriasoccer.com con- the Super Eagles’ pre-Afcon coach Eric Chelle urged the firmed that Dessers was not friendly against Egypt, coming squad to move past their group among the twenty-five players off the bench at half-time to stage successes and focus on replace EbenezerAkinsanmiro. Monday’s round of 16 clash that trained on yesterday.

Meanwhile, Ryan Alebiosu, against Mozambique’s Mambas.

The Panathinaikos forward is sidelined with a thigh injury who sustained a deep cut and has returned to his Greek to his right leg during his

Osayi-Samuel Describes Reece James A Total Package Super Eagles defender, Bright Osayi-Samuel has named Chelsea’s Reece James as role model The Birmingham City fullback started two of Nigeria’s group games before making way for the debuting Ryan Alebiosu against Uganda.

The Super Eagles will take on Mozambique in the next round oftheAFCON2025tournament.

Heading into the clash, OsayiSamuelrevealedthattheperfect blendofattackinganddefensive abilities James possesses makes him worthy of being looked up

to. revealed the rivalry with the other “ReeceJames.Hehaseverything. Turkish teams is nothing like he’s He’snumberoneforsure,because ever seen. “It’s crazy. I think it’s he just has everything. He can de- underrated. Alot of people don’t fend, he can attack, he can play as know how big it is. I’m lucky to a midfielder, he’s got the whole have played in three or four of package,” the former Fenerbahce those games. defender said in an interview with “The rivalry is so intense that Elegbete TV Sports.

I couldn’t take pictures with Vic “Dani Alves as well. He’s [Osimhen] because he played for someone I watched when I was Galatasaray. That’s how big the young. The link-up with Messi, rivalry is. watching players link up with “I think Fenerbahce is the bigtheir wingers, was something I gest club in Turkey; some people loved seeing a lot. might say otherwise. They show Quizzed about his time in so much love,” Bright OsayiTurkey, the former QPR defender Samuel concluded.

Leading sports facilities expert, Ebi Egbe, has commended the developmental strides recorded under the leadership of Bayelsa State Governor, Senator Douye Diri.

Egbe who is the CEO of Monimichelle Sports Facility Limited, said yesterday that Governor Diri’s administration has demonstrated clear commitment to infrastructural growth, institutional strengthening, and the overall advancement of Bayelsa State.

“These efforts have laid a

solid and sustainable foundation that offers valuable lessons beyond Bayelsa.

“As stakeholders and wellmeaning citizens, our collective prayer is that God continues to grant His Excellency Governor Douye Diri wisdom, strength, and discernment to deepen these achievements for the benefit of present and future generations, “stressed the Monimichelle Boss.

He emphasized that “ looking ahead, it is also our earnest hope that divine guidance will prevail in supporting the emergence of a credible

Monimichelle Commends Gov Diri’s Giant Strides in Bayelsa Sports

and capable Bayelsan, one with vision, integrity, proven capacity, and a strong record of enterprise and leadership, who can responsibly sustain and consolidate this developmental momentum, irrespective of political considerations, so that progress is not disrupted. “ Egbe concluded that a strategic blend of political experience and private-sector discipline will be instrumental in preserving and advancing the legacies being built today, while ensuring continuity, stability, and inclusive growth for Bayelsa State.

Joshua’s Driver Charged after Car Crash Killed Boxer’s Two Friends

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he driver of the car involved in the fatal crash that injured Anthony Joshua and killed two of his friends and team members has been charged by Nigerian police.

Adeniyi Mobolaji Kayode was charged on four counts including causing death by dangerous driving and driving without a licence at the Sagamu Magistrate Court yesterday.

Two-time heavyweight champion, Joshua was a passenger in a Lexus SUV which hit a stationary truck on the Lagos-Ibadan Expressway in Makun, Nigeria last Monday.

While the British boxer escaped with minor injuries and has since been discharged from hospital, his close friends

and long-term members of his years. team, Latif ‘Latz’ Ayodele and ‘Latz’ is a long-time friend of Sina Ghami, were killed in the Joshua’s and has been part of the accident.

AJ team going all the way back Prosecutors confirm the to his maiden world title victory charges against Kayode, 46, are over Charles Martin in 2016. causing death by dangerous Ayodele was Joshua’s personal driving, reckless and negligent trainer and a dedicated Muslim driving, driving without due having converted to Isam in 2012. care, and driving without a His Instagram feed is littered valid driver’s licence. with images and videos of him The case has been adjourned alongside Joshua in the gym and until January 20 for trial. relaxing away from it.

Throughout his time in boxJust hours before the crash, ing,Anthony Joshua has kept a he shared a video on Instagram close-knit circle of friends and of him and Joshua smiling and associatesaroundhim,plentyof laughing over a game of table those working silently behind tennis. the scenes during his ascent to Latif worked with a number the summit of the sport. of other prominent sports men Both Ghami and Ayodele and women with New Zealand were part of that group, con- rugby legend, Sonny Bill Williams sidered good friends having among those paying tribute. worked closely with him for

Man City Host Chelsea on SuperSport Live Amid Maresca’s Fallout The Premier League starts 2026 with high-stakes fixtures across the table, highlighted by Man City’s clash with Chelsea at the Etihad, following the abrupt departure of Chelsea head coach Enzo Maresca Maresca was reported to be a candidate to succeed Pep Guardiola at Man City, but he was dismissed by Chelsea on New Year’s Day. Under-21coach,CalumMcFarlane will take charge of Chelsea for the visit to Man. The first Saturday of 2026 with Aston Villa hosting Nottingham Forest at 1:30 p.m.

Brighton host Burnley at 4:00 The weekend reaches its climax p.m. in a contest between two at 6:30 p.m. where all Premier bottom-half sides. Later at 6:30 League matches are broadcast p.m., Arsenal travel to Bour- live on SS Premier League (DStv nemouth, aiming to extend their Ch. 203, GOtv Ch. 65). four-point lead at the top.

Man City host Chelsea. GuarToday, Leeds United host Man diola’s side, seeking to maintain United at 1:30 p.m. after holding pressure on league leaders,Arsenal LiverpooltoagoallessdrawonNew after a draw at Sunderland, will Year’s Day. At 4:00 p.m., Tottenham face a Chelsea squad adjusting to takeonSunderland,withthevisitors McFarlane’s interim leadership. aiming to continue their strong run The focus will be on how Chelsea’s followingadrawwithManCity,while players respond after the sudden Spurs remain inconsistent. departure of Maresca and the conFulhamhostLiverpoolatthesame troversy surrounding his alleged time, presenting another test for the talks with City, while Man City look Reds,whoare under pressure after to assert dominance against a club consecutive stalemates. in transition.

Goldberg Captures Super Eagles’ Momentum with New Commercial As the Super Eagles head into the knockout phase of the 2025 Africa Cup of Nations on the back of a perfect group-stage run, Goldberg Lager Beer has unveiled a new television commercial (TVC) celebrating Nigeria’s deep-rooted football passion and the shared rhythm Building on Super Eagles momentum that unites fans across the From neighbourhood view- into the knockout phase, country. ing centres and street corners this campaign is our way of Super Eagles won all three to living rooms and bars, the celebrating the people who of its group matches to finish TVC captures how football have carried the team with top of its group, reigniting weaves itself into daily life their energy from the group optimism among supporters — with Goldberg present as stage,” said the Senior Brand and setting up a Round of 16 a natural companion to those Manager, Goldberg, Kunle clash against Mozambique’s shared experiences.

Aroyehun.

Mambas. With expectations Rather than focusing solely “Goldberg has always rising, Goldberg’s new TVC on goals and highlights, the stood for pride, culture and positions the brand at the TVC places the spotlight shared moments. This film intersection of football excel- on the fans: their chants, shows how football, espelence and the vibrant fan banter, rituals and collective cially when the Super Eagles culture that has long defined emotions as they follow the are playing, brings Nigerians the Super Eagles’ journey.

Super Eagles. It reflects the together in a way nothing else The commercial, built belief that Nigerian football is does.” around Goldberg’s ‘Our not just about what happens The timing of the TVC Beat, Our Gold’ campaign, on the pitch, but about the aligns with growing nadraws inspiration from every passion and togetherness that tional excitement as Nigeria day match-day moments surround every match. prepares to face Mozambique familiar to Nigerian fans.

“As the Super Eagles move in the Round of 16.

SATURDAY JANUARY 3, 2026 • T H I S D AY, T H E S AT U R D AY N E W S PA P E R

Price: N400

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Olowo of Owo, Oba Ajibade Gbadegesin Ogunoye III (left) with His Majesty, Ogiame Atuwatse III, during the Oba’s visit to the Olu of Warri at his palace in Warri…recently

OKEYIKECHUKWU EDIFYING ELUCIDATIONS okey.ikechukwu@thisdaylive.com

Because PDP Lacks a Tony Anenih Today

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he Peoples Democratic Party (PDP) has floundered piteously for ten years now.

The epidemic of little men with big egos has been its bane. The triumphalism of never-do-wells who are propped up by half-baked conspiracies and financial subterfuge has made it a progressively inconsequential platform; especially since the exit of men and women of stature. The party now mostly belongs to individuals who lack the personal gravitas, presence, understanding of issues, commitment to party discipline and wide contacts that Anenih would make them major custodians of few others of similar standing in the party. group cohesion.

There was once a Tony Anenih, among a He was a man of outstanding networking

capacity. Leadership, group management PDP’s Board of Trustees was one of the and sound political experience were some of most influential Custodians of leadership his strongest points. His life-long exposure authority and his life and decades of to human affairs and deep knowledge towering political presence in the country is of the country, with relationships that captured “My Life and Nigerian politics”, spanned geographical, religious and other his autobiography. boundaries, gave him great advantages At the time of Anenih’s declaration when and where it mattered. His capacity of withdrawal from politics the former for strategic engagement, especially from President Goodluck Jonathan publicly urged the angle of power politics, as distinct from him to reconsider his decision. Jonathan being in political office, gave him an aura said, then, that though it may not be easy that was peculiarly his own. for him to always be available during He was the man to be consulted on very the midnight meetings and other party fundamental issues, of both political office engagements because of age, he should and the power equation. His residence leave his doors open to all, particularly hosted strategic meetings which many PDP members, for consultations. And heads of state would have loved to call Continued on page 28 their own. This former Chairman of the

OBINNACHIMA EDGY OPTIMIST

obinna.chima@thisdaylive.com

2026: Turning Economic Potential into Prosperity

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elcome to 2026, a new year that presents a fresh chance to rethink where Nigeria is headed and how we get there. The new year presents not just economic potential on paper, but a real opportunity to convert reforms, investment, and enterprise into tangible prosperity for households and businesses. The challenge and the promise lie in ensuring that growth is not theoretical, but truly felt in people’s lives.

Indeed, the year 2025 brought its own challenges, which included poor budget implementation, ecological and humanitarian disasters, worsening poverty and widening inequality, with insecurity as a major destabilising factor.

In 2025, the performance of key indicators of the Nigerian economy ended stronger, reflecting gradual stabilisation, improving investor confidence, and signs of renewed growth across key sectors.

For instance, inflation, which stood at 24.48 percent in January, dropped to 14.5 percent last November, buoyed mainly by a rebasing exercise undertaken by the National Bureau of Statistics. Also, the naira ended 2025 stronger as it closed at N1,429/$1 on December 31, which was a 7.4 percent appreciation compared with the N1,535/$1 recorded as at December 31, 2024.

Equally, the Nigerian stock market ended the 2025 trading year with a 51.19 percent gain with a total market capitalisation of N99.3 trillion. In the financial sector,

the expansion in monetary aggregates slowed, compared with the preceding year, as key interest rates rose, reflecting tight conditions in the money market.

Despite these positive numbers, many Nigerians are still struggling, with households facing eroded purchasing power. In fact, the World Bank estimated that the number of Nigerians living in poverty as of last year was 139 million.

Nigeria’s human capital index is ranked among the lowest globally: children born in 2020 are expected to reach only 36 percent of their full potential productively without better access to education and health services.

However, amidst these challenges lies an opportunity for Nigeria to chart a more resilient and sustainable economic path

in 2026.

Looking forward, the year 2026 presents a realistic window of opportunity for macroeconomic stabilisation. Already, the Central Bank of Nigeria (CBN) has projected that the Nigerian economy is expected to continue expanding, with growth projected at 4.49 per cent in 2026.

The projection is hinged on continued gains from broad-based structural reforms and a gradually easing monetary policy stance. For the central bank, the growth momentum is also anticipated to be complemented by increased production and investments in the oil sector, supported by improved Continued on page 28

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