WEDNESDAY 11TH JUNE 2025

SUPPORT TO TACKLE IMPACT OF FLOODS...

Tinubu to Wike: Ignore Busybodies and Bystanders, You’re Transformational Leader

Orders MDAs to start paying for use of international conference centre Reaffirms commitment to revamp infrastructure across key sectors Minister explains why structure was renamed after president

Deji Elumoye and Olawale Ajimotokan in Abuja

President Bola Ahmed Tinubu, yesterday, praised the Minister of the FCT, Nyesom Wike, and told him to ignore busybodies and bystanders while continuing with his good works because he is a transformational leader.

Speaking while reopening the renovated International Conference Centre (ICC) in Abuja, the president, however, charged all Ministries, Departments, and Agencies (MDAs) to pay for the use of the facility to ensure its upkeep and long-term sustainability.

The president, however, reaffirmed his commitment to revamping infrastructure across key sectors, just as Wike has renamed the Centre, which opened in 1991, as the Bola Ahmed Tinubu International Conference Centre.

“Do not pay attention to the busybodies and bystanders. Whatever they say, continue your good work. You are a transformational leader with foresight, vision, and determination.

“You have the foresight, the vision, and determination. to succeed. Thank you very much,” Tinubu said,

Mokwa

applauding Wike for his vision and execution.

Recalling his previous visit to the Centre during the 2024 ECOWAS Parliament conference, Tinubu recounted his shock at its poor state.

“When I attended the ECOWAS Parliament conference, the environment was dirty, disorganised, and uninhabitable. I turned to Mr. Wike and said, ‘This Conference Centre does not reflect who we are. Have we sunk this low?’ He replied, ‘No, bear with us. We will do whatever we can to transform the place.’

“Today, I am very happy. The International Conference Centre is part of our country’s larger vision to become a hub for regional diplomacy, continental trade discussions, global partnerships, and other thoughtful, well-outlined goals that reflect our ‘Nigeria First’ principle,” he stated.

He praised Julius Berger Nigeria Plc, the original contractor, for delivering a high-quality renovation, adding that the quality reflects what Julius Berger had been known for in this country for years.

Under the Renewed Hope Agenda, Tinubu further assured Nigerians of

Flood:

his administration’s determination to revitalise infrastructure across key sectors, including transportation, healthcare, education, energy, and urban development.

The president, who undertook a guided tour of the centre, commended Wike, for completing the renovation within one year of the Centre’s closure.

Also speaking, the Senate President,

Godswill Akpabio, commended the FCT Administration for naming halls at the Centre after the President of the Senate, the Speaker of the House of Representatives, and the Chief Justice

of Nigeria. He hailed the collaborative spirit between the executive, legislature, and judiciary under President Tinubu’s leadership.

Trade Tensions: World Bank Slashes Global Growth Forecast to 2.3%, Says 2025 Will Mark Weakest Growth Since 2008

Retains Nigeria’s growth projection at 3.6% Downgrades growth forecasts for 70% of economies

The World Bank has declared that trade tensions which have been triggered by the United Sates President, Donald Trump, and policy uncertainty were expected to drive global growth down in 2025 to its slowest pace since 2008, outside of outright global recessions. According to the World Bank’s latest Global Economic Prospects report, the turmoil has resulted in growth forecasts being downgraded in nearly 70 per cent of all economies—across all regions and income groups.

NHRC Calls for Improved Disaster Preparedness

Records over 275,000 human rights complaints in May

Michael

The Executive Secretary of the National Human Rights Commission (NHRC), Dr. Tony Ojukwu, has called for improved disaster preparedness and protection for Internally Displaced Persons (IDPs) in the country. The call followed the recent flood disaster in Mokwa, Niger State, where over 200 people were lost to devastating flood.

Ojukwu, made the call at the Commission’s monthly Human Rights Situation Dashboard held in Abuja, yesterday, where he announced the launch of a new quarterly Human Rights and Inter-

nal Displacement Dashboard—the first of its kind in Nigeria’s history, to address the growing displacement crisis in the country.

The NHRC boss while stating that the initiative, developed in partnership with the United Nations High Commission for Refugees (UNHCR), would systematically track and address the challenges facing IDPs, asylum seekers, refugees, and returnees, disclosed that between February and April the Commission recorded over 40,000 displacement incidents and 1,460 rights complaints from the vulnerable groups.

He lamented that many continue to suffer from inadequate shelter,

lack of healthcare, and systematic rights violations in the country.

Ojukwu also raised the alarm over the growing humanitarian and rights crisis in Nigeria, revealing that the Commission recorded over 275,256 complaints in the month of May alone.

He noted that the overwhelming number of complaints was a clear indication that “too many Nigerians feel unprotected” and that the country risks normalising distress and impunity.

He said: “When over a quarter of a million people come to the National Human Rights Commission in just one month, the message is loud and clear.”

In the report, the bank lopped 0.4 percentage points off its forecast for global growth this year. It now expects the world economy to expand just 2.3 per cent in 2025, down from 2.8 per cent in 2024.

The expected slowdown to 2.3 per cent is nearly half a percentage point lower than the rate that had been expected at the start of the year.

However, the bank retained its April 2025 growth projection for the Nigerian economy at 3.6 per cent in 2025, 3.7 per cent in 2026 and 3.8 per cent in 2027.

The outlook for the Sub-Saharan Africa economy which is also affected by global spillovers is projected to strengthen to 3.7 per cent in 2025 and average 4.2 per cent in 2026- due to heightened uncertainty and potential adverse trade policy changes

Although the report does not envisage a global recession, nevertheless,

if forecasts for the next two years materialise, average global growth in the first seven years of the 2020s will be the slowest of any decade since the 1960s.

Commenting, the World Bank Group’s Chief Economist and Senior Vice President for Development Economics, said Indermit Gill said, “Outside of Asia, the developing world is becoming a development-free zone.

“It has been advertising itself for more than a decade. Growth in developing economies has ratcheted down for three decades—from 6 per cent annually in the 2000s to 5 per cent in the 2010s—to less than 4 per cent in the 2020s. That tracks the trajectory of growth in global trade, which has fallen from an average of 5 per cent in the 2000s to about 4.5 percent in the 2010s—to less than 3 percent in the 2020s. Investment growth has also slowed, but debt has climbed to record levels.”

Growth is expected to slow in nearly 60 percent of all developing economies this year, averaging 3.8 per cent in 2025 before edging up to an average of 3.9 per cent over 2026 and 2027. That is more than a percentage point lower than the average of the 2010s. Low-income countries are expected to grow 5.3 per cent this year—a downgrade of 0.4 percentage point from the forecast at the start of 2025. Tariff increases and tight labor markets are also exerting upward pressure on global inflation, which, at a projected average of 2.9 per cent in 2025, remains above pre-pandemic levels.

Slowing growth will impede developing economies in their efforts to spur job creation, reduce extreme poverty, and close per capita income gaps with advanced economies.

Governor Okpebholo Announces Reopening of Edo Line Transport

Adibe Emenyonu in Benin City Edo State Governor, Senator Monday Okpebholo, yesterday, announced the reopening of the Edo Line to enhanced transportation options in the State. Okpebholo, who personally assessed the progress at the New Edo Line station, expressed satisfaction with the preparations. According to him, “I’ve just

come to look at the work that is going on here, in the New Edo Line station. The vehicles are ready. Everything is set.

“We are trying to see how we can commence. The idea is to come and look at the level of preparation of our commencement.”

Managing Director of the Edo State Transport Authority, Oligbe Henshaw, affirmed the readiness of the terminal.

“This is the State terminal for the New Edo Line Nigeria Ltd. And by the special grace of God on the 27th of June this year, we shall be commencing operations properly,” Henshaw said. He further assured that ongoing projects at the terminal, including partitioning, CCTV installation, and the control room, would be completed by next week Friday.

Ndubuisi Francis in Abuja

Niger State Governor, Mohammed Bago (left), receives cheque of ₦300m from Borno State Governor, Babagana Zulum, at Government House, Minna, yesterday

Olugbode in Abuja

AFRICAN CARIBBEAN FRANCHISE EXHIBITION MEDIA PARLEY...

Lokpobiri: IOCs’ Assets Divestment Already Yielding Additional Output in Oil Sector

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, yesterday said that the recent gale of divestments in the oil and gas sector in Nigeria was already yielding the expected results in terms of increased crude production.

Lokpobiri maintained that divestments are part of the energy business,

expressing his pleasure that under the current administration of President Bola Tinubu, several divestment deals that had lingered for years had been successfully concluded. These completions, he said, have led to a measurable increase in the national production output, demonstrating clearly that divestment, when properly structured, is in Nigeria’s best interest.

Lokpobiri spoke while receiving a delegation of the Independent Petroleum Producers Group (IPPG) leadership, which visited him to commend Tinubu for his support to their members who recently acquired the assets from the International Oil Companies (IOCs), according to a message posted on his X handle.

According to him, this is more so, given that such divestments were not

entirely out of Nigeria, but rather a shift to deepwater operations, where it has become a win-win for us on all fronts.

He reiterated the federal government’s commitment to supporting indigenous companies in future divestment engagements with International Oil Companies (IOCs), however emphasising that there is no alternative to increasing production

June 12: Soludo to Speak on Nation Rebuilding at Democracy Day Event, The Platform

Confer national recognition on Nwosu, group tells Tinubu

David-Chyddy Eleke in Awka and Emmanuel Ugwu-Nwogo in Umuahia

Governor Chukwuma Soludo of Anambra State has been nominated as a lead speaker in this year’s Democracy Day event at The Platform – an annual event powered by Pastor Poju Oyemade to chart a course for Nigeria and Africa on the way forward.

A statement by the governor’s press secretary, Mr. Christian Aburime, revealed that Soludo will be speaking alongside Governor Babajide SanwoOlu of Lagos State as lead speaker.

Other speakers include former Governor Raji Fashola and former Speaker of the House of Representatives, Yakubu Dogara.

In a related development, President Bola Tinubu was urged to give national recognition to the late Chairman of Nigeria’s electoral body, Professor Humphrey Nwosu, in order to make the celebration of June 12 as

Democracy Day more inclusive.

A pan-Igbo group, Ndi Igbo Intellectual and Cultural Development Organisation (NIDO), made the call in a statement signed by its Director of Communications and Information, Dr. Christian Afulike.

NIDO said the June 12 honours list should be complete.

The press release by the Anambra State governor stated that Soludo, a former Governor of Central Bank of Nigeria (CBN), renowned economist, and adviser to several leading world financial bodies, will be speaking on the theme, “Rebuilding The Nation.”

Aburime said Soludo, who is known not to shy away from speaking frank truths, will during the event bare his mind on issues with incisive messages.

The statement said, “As Nigeria marks another Democracy Day amidst the familiar chorus of challenges, one voice consistently rising above the din, attracting attention across geopolitical

divides, is that of Anambra State Governor, Professor Chukwuma Charles Soludo, CFR.

“He actively champions national unity, consistently rejecting divisive rhetoric, while demanding fairness and equity for the South-east within the Nigerian project. This blend of frankness and undaunted faith makes his patriotism compelling and credible.

“His interventions, whether on monetary policy, economic reforms, security, or national cohesion, are dissected nationwide because they carry weight. They are informed by experience, backed by data, and delivered with a palpable passion for the nation.

“This is why Nigerians from all walks of life should keenly anticipate Governor Soludo’s Democracy Day presentation this Thursday, June 12th, at The Platform in Lagos as he speaks on Rebuilding the Nation.”

It would be recalled that Tinubu had dropped May 29 and adopted

FG Tightens Oil Industry’s Harmony as Sterling Oil, PENGASSAN End Rift

Peter Uzoho

The federal government has taken steps towards strengthening operational harmony and enhancing the growth of the Nigerian oil and gas industry with the final resolution of the ongoing dispute between Sterling Oil, Sterling Oil Exploration & Energy Production Company Limited (SEEPCO) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

In a statement issued yesterday, SEEPCO confirmed that it had reached a constructive and amicable resolution on all outstanding matters with PENGASSAN, following collaborative engagements facilitated by the federal government on June 4, 2025.

The company quoted a source in the ministry, who said there were multiple rounds of meetings since the beginning of the year under the supervision of government authorities.

It said the meetings led to the milestone agreement, which reflects the shared commitment to promote industrial harmony, supporting national production goals, and enhancing the overall wellbeing of personnel within the oil and gas sector.

“The agreement also underscores Sterling Oil’s dedication to upholding regulatory compliance, fostering capacity development for Nigerian professionals, and sustaining open dialogue with stakeholders.

June 12 as Democracy Day in honour of late Moshood Abiola, the presumed winner of the presidential election held on June 12, 1993.

But NIDO said it was fitting and sensible to also honour Nwosu, who conducted the poll believed to have been won by Abiola and widely adjudged as the most credible, freest and transparent election in Nigeria’s history.

The group stated that it smacked of double standards to deny Nwosu a national honour while honouring the beneficiary of the election he conducted with patriotic zeal, adding that Mr. President should correct the anomaly.

than for those who have acquired these assets to re-enter inactive wells.

He described it as the way forward, expressing happiness that some of them had already begun the process, even as he encouraged members of the group to stay aligned with Nigeria’s collective push to transform the energy sector.

“The best thing to do was to vigorously ensure that those divestments happened. It’s common sense. If we are going outside the country to canvas for investors, we should also be allowed to divest. That is global best practice.

“My intention is to engage IPPG individually and say what is your plan now that you have acquired these companies. There are so many fields that are (dormant) because of the protracted period of divestments that the IOCs decided not to do anything.

“Our ultimate objective, which is already happening, is to see how we can ramp up production. So, the government will commit to collaborate with IPPG members and all stakeholders in the industry to ensure we work together and justify the decisions to allow these divestments,” he stated.

Meanwhile, the Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, also yesterday, hosted the high powered delegation from the IPPG), led by its Chairman, Abdulrazaq Isa, a statement by his spokesman, Louis Ibah, said.

Ekpo lauded IPPG for the important role they play in the gas value chain,

noting that as indigenous investors, they not only create jobs in the country but also plough their profits back into the economy to support the nation’s agenda of repositioning the energy sector for sustainable development. The minister pledged the federal government’s support in resolving the challenges affecting the group’s operations and called for enhanced collaboration between the group, government, and regulatory agencies to foster growth and development.

IPPG Chairman, Isa, in his speech, thanked Tinubu for appointing members of the group into key positions in the Nigerian National Petroleum Company Limited (NNPC) and the Organisation of Petroleum Exporting Countries (OPEC). Isa also solicited the intervention of the federal government to resolve issues around key areas like gas pricing, gas flare penalty, legacy debt, gas infrastructure, gas supply receivables, and Liquefied Petroleum Gas (LPG) availability to encourage upstream investment and move the sector forward.

The chairman was accompanied by other IPPG members including: Dada Thomas (Frontier CEO), Gbite Falade (Aradel CEO), Lanre Kalejaiye (ND Western CEO) and Dapo Filani (Waltersmith Petroman CEO), Others were: Trost Amos (Renaissance Africa), Chikaodili Okoye (Seplat), James Makinde (Seplat), Sunday Okunbor (ND Western), Nkiruka Ajah (Waltersmith), and Oyeleke Banmeke (IPPG Secretariat).

Court to Hear Suit Challenging Lafarge Africa’s Proposed Sale to Chinese Firm

Wale Igbintade

The Federal High Court in Ikoyi, Lagos, will today hear the substantive suit challenging the proposed sale of Lafarge Africa Plc’s majority shares to Chinese multinational, Huaxin Cement Limited.

The legal action was filed by Strategic Consultancy Limited, a Nigerian firm and shareholder in Lafarge Africa, which alleged that the 83.81 per cent share divestment by Holcim Group, the majority owner, was executed in a “surreptitious” manner, without due process.

At the heart of the dispute is whether the transaction violates Nigerian laws, particularly the Companies and Allied Matters Act (CAMA) 2020, the Securities and

Exchange Commission Act, and the Nigeria Investment Promotion Commission (NIPC) Act.

The court will also assess whether the rights of minority shareholders have been breached, and if the transaction involved foreign entities not properly registered in Nigeria.

Lafarge Africa, listed on the Nigerian Exchange, became a major player in the cement sector after acquiring majority stakes in three formerly government-owned cement companies during the 2001–2002 privatisation exercises.

Holcim Group, a Swiss multinational, had previously informed the Securities and Exchange Commission (SEC) of an internal restructuring.

However, Strategic Consultancy claims the proposed divestment

was carried out secretly, denying existing Nigerian shareholders their right of first refusal and the opportunity to acquire the shares.

The suit names Lafarge Africa, Holcim Group, Nigerian Exchange Limited, and Central Securities Clearing System as defendants. Strategic Consultancy contends that the transaction violates corporate governance principles and involves dealings with unregistered foreign entities.

At the last hearing on May 15, 2025, Justice Lewis Allagoa dismissed a preliminary objection by Lafarge Africa and Holcim Group challenging the court’s jurisdiction. “The 1st and 2nd defendants’ motion objecting to the Court’s jurisdiction is hereby dismissed,” the judge ruled.

L–R: Chief Executive Officer, Arravo Technologies Limited, Dr. Ayo Adegboye; President, ACR Holdings, Funmi Bajulaiye; and Chief Executive Officer, ACR Holdings, Felix Ehighaleh, during a media parley on CEO Drawing Board 7.0, African Caribbean Franchise Exhibition 2025, organised by ACR Holdings in partnership with Arravo Technologies Limited in Lagos, yesterday

PHOTO: ABiODun AjALA

Emmanuel Addeh in Abuja

2025 BLUE ECONOMY AND FINANCE FORUM...

Baba-Ahmed: Executive, N’Assembly

Collusion Destroying Democracy

Argues Nigeria’s democracy only serving its operators Bemoans falling leadership standard in the country

A former Political Adviser to President Bola Tinubu, Dr Hakeem Baba-Ahmed, yesterday argued that the ‘collusion’ between the executive and the legislature was capable of destroying Nigeria’s 26-year-old democracy.

Speaking on national television, Baba-Ahmed, a former spokesman of the Northern Elders Forum (NEF) and ex-Secretary to the Independent National Electoral Commission (INEC), maintained that the current democracy is only serving needs of Nigerian leaders, rather than the people’s.

Many Nigerians, especially the opposition, have recently expressed concern over the relationship between the Senate led by Godswill Akpabio and the Tinubu-led executive relating to the perceived erosion of legislative independence in Nigeria’s Fourth Republic.

Since assuming office, Akpabio has often projected loyalty to Tinubu in both rhetoric and legislative conduct, sometimes marked by the Senate’s swift approval of key executive requests, including loan approvals, with minimal scrutiny or public debate. In fact, the Senate President recently led the National Assembly to endorse Tinubu for a second term, two years away from

the 2027 election circle.

“We have never seen a more pliant, a more complicit National Assembly than the way we see now. And they are in that, largely because the executive now determines who becomes the head of the other arm of government. That is not done.

“You cannot have a President who insists that he must have a Senate president, he must have (pick) the speaker. You cannot do that. That’s why they are called independent arms of government. They are related, but they are independent.

“The moment you have the leadership in your pocket, they also have you in their pocket, because there are things you have to go to them for. But what we have in Nigeria is the highest collusion between the executive arm of government and the legislative arm of government.

“And when you have that, then you are finished. Your democratic system has gone beyond redemption, unless you are actually able to have an executive arm of government that will say, I will go by the letter and the substance of the constitution,” Baba-Ahmed argued.

According to him, democracy is subverted fundamentally because leadership in Nigeria fails to recognise that they are given the power to govern by the people on their behalf, and not to become big men.

Baba-Ahmed further pointed out that successive governments since 1999 have been worse than their predecessors, starting from Olusegun Obasanjo to the Tinubu administration.

“ I think that if you start from the first seven years of President Olusegun Obasanjo… President Umar Yar’Adua came into power, with some kind of fresh air, youngish president, seemingly clean, visionarily strong. Unfortunately, he didn’t last

longer than two years.

“ Goodluck Jonathan took over and ran the country aground, and we fought against Jonathan. We didn’t realise that we were going to put in place someone who was not even going to govern at all.

“Jonathan governed badly. President Buhari didn’t govern at all. Now you have a president who says ‘I’m going to become president because it’s my turn.’ You don’t have a turn to run the country. It’s not

your turn. It cannot be your turn. But in any case, even if we forgave him for that comment, you judge the leadership today,” he stressed.

Baba-Ahmed stated that even if the current administration says it’s doing well due to international and global ratings, it is not the only criterion used in measuring government success.

“You measure it by the way the citizens live, the way the citizens feel. And if that is the article by which we are going to measure

this administration, then clearly, the Tinubu’s administration has failed the expectations that it was going to radically improve the quality of governance of President Buhari,” he maintained. He stressed that Nigerians were looking to Tinubu to change his style of his governance, show a little empathy to the situation Nigerians live, tinker with a lot of his policies, stop waste and corruption, and address the issue of insecurity.

Stop Treating Unclaimed Dividends as ‘Statute-barred’, SEC Tells Quoted Companies

Ndubuisi Francis in Abuja

The Securities and Exchange Commission (SEC) has directed all publicly-quoted companies and registrars to honour unclaimed dividends, and stop treating dividends older than 12 years as “statute-barred”, especially those dating from before the enactment of the Finance Act 2020.

The directive is a reaffirmation of the provisions of Section 60 of the Finance Act, which mandates that dividends unclaimed for over six years be transferred to the Unclaimed

Celebrate Child Rights

Sunday Ehigiator

Children’s protection and rights were the focus of the Lagos State Domestic and sexual Violence Agency, Lagos State Parks and Gardens Agency (LASPARK), and OurKraft Ventures, as they partnered in celebration of the 2025 Children’s Day at the JJT park, Alausa, Lagos.

The celebration marks the 10th anniversary of the children’s event by OurKraft Ventures, with community leaders, educators, and state agencies coming together to highlight the importance of nurturing and protecting the next generation.

Organised by OurKraft Venture and LASPARK, this year’s event was branded as a Future Leaders

Fiesta, and themed, ‘Providing a Safer, More Secure Community’, reflecting a renewed focus on child protection, advocacy, and the cultivation of young minds as future change makers.

Speaking at the event, the convener, Oluwatobiloba Oluwapelumi Onimole, who has led the initiative since its inception, reflected on the journey from humble beginnings to a state-supported program.

“It started with children just having fun. Now, 10 years later, we’re here with partnerships, education, and meaningful engagement,” he said.

The first edition even featured Nigerian music star Adekunle Gold, LAX and other upcoming artists, a testament to the growth and ambition of the program.

The celebration also featured interactive activities, educational sessions, and creative installations, including an AI-powered photo booth provided by OurKraft.

“We focus on exposing children to values, culture, and education in a way that is engaging and memorable,” Oluwatobiloba said, emphasising the importance of instilling morals and awareness from a young age. “It’s not just about fun. It’s about growing them right.”

Representing the Executive Secretary, DSVA, Mrs Titilola Vivour, the Community Engagement Officer for the agency, Mr. Adeniyi Olatosin Akinde, underscored the state’s commitment to creating a safe and supportive environment for every child.

Funds Trust Fund (UFTF), where they remain accessible to shareholders pending claims.

In a circular released yesterday, SEC said shareholders were entitled to continue to claim their dividends that were not statute barred (that is not above 12 years) before December 31, 2020, “when the Finance Act 2020, came into effect.”

The circular said, “The attention of the Securities and Exchange Commission has been drawn to the fact that paying companies and their Registrars have continued to treat unclaimed dividends of public companies that are older than 12 years as being ‘statute-barred’ without

recourse to the provisions of the Finance Act 2020.

“In response to various inquiries on the subject, the commission hereby clarifies as follows: the import of the provisions of Section 60 of the Finance Act 2020 (December 31, 2020), is that, where dividends declared by a public company quoted on the Nigerian Exchange Limited remained unclaimed for a period of six years or more, such dividends are expected to be transferred to the Unclaimed Funds Trust Fund (UFTF) to be held in trust and managed pending when the shareholder presents a claim for such unclaimed dividends.

“Pending the setting up and

operationalisation of the UFTF by the Federal Government, pursuant to its powers under Sections 3 (4) (e) and 93 of the Investments and Securities Act 2025, the commission hereby directs public companies and their Registrars to continue to honour all requests by shareholders for the payment of unclaimed dividends as described above, with effect from December 31, 2020.” The commission directed public companies and registrars to effect immediate compliance with the directive and submit periodic reports on same in the manner prescribed in the commission’s Rules and Regulations.

Group Urges Tinubu to Sustain Policy Reforms as 2027 Election Cycle Approaches

James Emejo in Abuja

As the 2027 election cycle inches closer, a policy advocacy group, Independent Media and Policy Initiatives (IMPI), yesterday urged President Bola Tinubu to press ahead with ongoing economic reforms, and ensure that Nigerians feel the positive impact of the policy changes.

The group expressed worry that the president could be tempted to slow down on his reform agenda as the election draw closer, warning that this could be a costly mistake for his potential return.

Speaking at a media briefing in Abuja, Chairman, IMPI, Dr. Omoniyi Akinsiju, hailed the reform initiatives of the present administration, adding

that “if the succeeding government to the Muhammadu Buhari administration had shied away from confronting the distortions in the national economy, the country was surely heading to bankruptcy”.

He said the group agreed with the position of the Financial Times that, “As Nigeria’s election cycle edges towards 2027, Tinubu may be tempted to slow the pace of change.

“That would be a mistake.

He should forge ahead, with the overriding aim of making ordinary Nigerians — not just investors — feel the benefits of his shock therapy.”

Akinsiju said, “This is also our stance”.

According to him, IMPI conducted an audit of global and

domestic institutional ratings and quantification of the country’s ongoing economic reforms. He said the outcome indicated that Nigeria was been increasingly recognised as a rising economic force and admired across the globe for the resolve shown by its leader in implementing difficult but necessary reforms.

He said, “However, tangential to this growing positive global and domestic perceptions among communities of investors, we have also observed a strain of incredulity in some quarters of the national political class and the media that continue to belie the profound management of the national economy by the federal administration of President Tinubu.”

Emmanuel Addeh in Abuja

L–R: Permanent Secretary, Federal Ministry of Marine and Blue Economy (FMM/BE), Mr. Oloruntola Olufemi; Minister, FMM/BE, Mr. Adegboyega Oyetola; Director General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola; and Director, Maritime Safety, FMM/BE, Mr. Babatunde Bombata, at the 2025 Blue Economy and Finance Forum in Monaco, France… recently

NGX Seeks Collaboration with Hong Kong Stock Exchange in Governance Regulation, Others

Ndubuisi Francis in Abuja

The Nigerian Exchange Group (NGX) has solicited the collaboration of the Stock Exchange of Hong Kong (SEHK), one of the world’s greatest in governance and regulation issues, technology, market expansion, product development, cost optimisation and profitability.

The SEKH is over 100 years and is one of the world’s biggest bourses with over two thousand listed securities and a variety of products.

The NGX Chairman, Dr. Umaru Kwairanga made callbin in Hong Kong during a board interaction between both exchanges.

He said, “Hong Kong has

always been a marvel and an inspiration to the world. This small city-state, with millions of hardworking citizens, has pursued aspirations loftier than its hundreds of skyscrapers and has been able to achieve them over the years in spite of constantly shifting global dynamics. Through the ingenuity and hardwork of your citizens, your economy has always ranked as one of the top economies globally.

“The Stock Exchange of Hong Kong has a similar storied history, having been in existence for over a hundred years. Your exchange ranks among the biggest in the world with over two thousand listed securities a variety of products.

Your Exchange also serves as a bridge between the People’s

Republic of China and the world.

“So we are here to congratulate you on your resilience and success as an exchange but, more

importantly, to learn from your experiences as a vibrant, innovative exchange in a bustling economy.”

He stated that the Nigerian Stock Exchange (NSE) which was established over 60 Sixty years ago had only just over three years ago transformed from a mutual organisation limited by guarantee to a for Profit Public Company owned by and run for the benefit of thousands of shareholders.

According to him, that transformation has come with various challenges in such areas as governance and regulation, technology, market expansion, and product development and cost optimisation and profitability.

Kwairanga noted that the Stock Exchange of Hong Kong had most

probably tackled and surmounted similar challenges, adding, “and so we look forward to learning from your experience and partnering with you to move forward very quickly.”

The NGX Chairman noted that in a highly competitive, fast evolving borderless world, “we think that engagements and collaborations will determine the survival and growth of exchanges such as ours and that there are many areas for cooperation between the Hong Kong Stock Exchange and the NGX.”

“So, we are here to share, learn, and partner with you and look forward to tremendous benefits from both sides at the end of this visit,” Kwairanga said.

Senate Mulls Bill to Make NASS Venue for Presidential Swearing-in

Legislation will make it compulsory for president to address Nigerians on June 12

Aborisade in Abuja

The Senate disclosed yesterday it was proposing a bill that would designate the National Assembly as the venue for the swearing in of the elected president in Nigeria.

The red chamber also said the proposed bill would make it mandatory for the president to always address Nigerians on June 12 of every year being the Democracy Day. The Leader of the Senate, Senator

Opeyemi Bamidele, gave the hint yesterday while addressing some journalists at his Asokoro, Abuja residence.

He spoke ahead of the President Bola Tinubu’s address to the joint session of both the Senate and the

House of Representatives at the National Assembly on Thursday, June 12.

Bamidele said the Senate was working on a legislation to institutionalise the event.

President Tinubu had earlier in

2024, attended a joint session of the National Assembly on June 12 for official rendition of the current National Anthem without addressing the lawmakers.

But on Thursday this week, the President will be with the federal

Plateau Killings: We Lost 58 Persons, 81 Houses to Fulani Attacks in the Past One Month, Says Youth Council As suspected herders again attack Benue community, kill three

Seriki Adinoyi in Jos and George Okoh in Makurdi

Riyom Youth Council in Plateau State has lamented that communities in Riyom Local Government Area have lost 58 persons and 81 houses to incessant attacks in the past one month.

The party added that 31 other persons sustained varying degrees of injuries, while 15,000 were displaced from their homes.

Addressing a press conference in Jos, Chairman of Riyom Youth Council, Comrade Zang Kefas Davou called on the federal government to intervene and bring a halt to the killings.

In a related development, suspected herdsmen yesterday launched an attack on Agatu and Apa local government areas in Brnue State, leaving several people dead.

The attack occurred in Edikwu-

G’Icho, a community in Apa Local Government Area, where three youths were ambushed and killed.

According to a source in Agatu Local Government Area, one Sunday Dutse, the younger brother of a former chairman of the local government council, was killed along the Odugbeho-Ogbaulu road.

Davou said, “For over two decades, since the year 2002, Riyom Local Government Area has been subjected to a relentless and systematic campaign of violence, solely perpetrated and orchestrated by armed Fulani militias.

“This dreaded campaign has been mostly characterised by unprovoked attacks, resulting in the senseless and brutal murder of thousands of our people in cold blood.

“Our once thriving communities have been reduced to rubble, with properties worth billions of Naira utterly destroyed, and the very

Zulum Hands Over Facilities for Federal Agriculture and Entrepreneurship University Bama’s Takeoff

Michael Olugbode in Abuja

Governor Babagana Zulum of Borno State has handed over the facilities of Umar Ibn Ibrahim El-Kanemi College of Education, Science, and Technology, Bama, for the immediate commencement of academic activities of the newly established Federal University of Agriculture and Entrepreneurship, Bama. Governor Zulum made the announcement on Monday while receiving a high-powered delegation of Bama indigenes, led by the Shehu of Bama, Dr. Umar Ibn Kyari El-Kanemi, at the Government House in Maiduguri.

The delegation was on a visit to the governor to appreciate him for efforts made in securing federal approval for the new institution.

Zulum reaffirmed the state government’s commitment to providing all necessary support to ensure the smooth takeoff of the university.

He expressed profound gratitude to Vice President Kashim Shettima for facilitating the signing of the bill into law, the sponsor of the bill, Senator Kaka Shehu Lawan, and other members of the National Assembly from the state for their collective support.

He said: “I wish to express my sincere appreciation for this visit. The person who deserves the highest accolades for the approval of this university is the Vice President, Senator Kashim Shettima.

“For my part, I promised to hand over the Umar Ibn Ibrahim El-Kanemi College of Education, Science, and Technology, Bama, to the federal government to facilitate the institution’s immediate takeoff.

“Let’s all unite to see to the success of the new university, which will undoubtedly improve the educational development of the state and betterment of future generations.”

sources of our people’s livelihoods, particularly our farmlands and farm produce, completely destroyed.

“The economic and social fabric of our communities have been torn apart, with over 82 houses and properties worth millions of Naira deliberately burnt and destroyed.

“This orchestrated violence have also led to the brazen grabbing of our ancestral lands with no attempts for reversal in spite of the existence of several legal frameworks to address same.

“The marauding activities of these armed militias have continued to dispossess indigenous communities

e

extensive use of forward oil sales agreements by the Nigerian National Petroleum Company Limited (NNPC), revealing that the company had entered into crude prepayment deals worth approximately $21.6 billion since 2019.

These agreements, often referred to as “forward sales” or “preexport financing” arrangements, involve mortgaging Nigeria’s future crude oil production in exchange for upfront cash.

While such deals offer shortterm liquidity, the report raised significant concerns about their long-term implications for the country’s economy, transparency, and energy security.

Among the major deals highlighted were Project Gazelle and Project Gazelle II, together accounting for nearly $11 billion. It noted that financial institutions such as Afreximbank may have reached their lending limits to Nigeria and has declined to participate in newer deals, including Gazelle II, which THISDAY was told could be handled by Middle Eastern players such as Saudi Aramco or UAE’s ADNOC.

But Reuters said the facility would be Nigeria’s largest oilbacked loan to date and Saudi Arabia’s first participation of this scale in the country, although the decline in oil price could shrink the size of the deal, quoting the sources.

Nigeria’s President Bola Tinubu,

of their heritage and means of survival, and displacing several into lives of destitution and uncertainty.”

Davou added that some of the assailants were in possession of the cell phones of some of their victims.

He said large hectares of their cultivated farmlands, representing the very essence of their people’s sustenance, had been mowed down and decimated, even as “over 15,000 persons have been displaced from their homes, and are now living in precarious conditions without shelter and food.”

The group demanded a massive and permanent deployment of

two of the sources said, first broached the loan in November when he met with Saudi Crown Prince Mohammed bin Salman in Riyadh at the Saudi-African Summit.

The slow progress in discussions reflects the strain of the recent oil price drop, caused largely by a shift in the policy by the Organisation of Petroleum Exporting Countries (OPEC) and its allies, OPEC+ to regain market share rather than curtail supply.

Brent has fallen about 20 per cent to around $65 per barrel from above $82 in January. A lower oil price means Nigeria could need more barrels to back the loan, but years of under-investment are complicating its ability to meet production goals.

In May, it was reported Tinubu was seeking approval for $21.5 billion in foreign borrowing to bolster the budget. The $5 billion oil-backed facility under discussion with Aramco would be part of that, sources said.

The banks involved in the talks that are expected to co-fund part of the loan with creditor Aramco have expressed concerns about oil delivery, which has slowed discussions, sources said.

Gulf banks and at least one African lender are involved, they added. Reuters could not establish the banks’ identities.

“It’s hard to find anyone to underwrite it,” one source said, citing concerns over the availability

security forces, particularly, troops of Nigeria Mobile Police Force (MOPOL) across all vulnerable communities in Riyom to gather intelligence that will help their operation at wiping out the attackers.

The chairman of Riyom Youth Council stated, “We call on the Inspector General of Police, the Chief of Defence Staff, Director General of Department of State Services and the Attorney General of the Federation to purposefully collaborate to ensure that justice is not only done but seen to be done with the view to ending the impunity.”

of the cargoes. Saudi Aramco declined to comment. Nigeria’s state-owned oil company NNPC did not comment, and neither did the finance or petroleum ministries, Reuters added.

Nigeria has years of experience taking out and repaying oil-backed loans, which the government uses for budget support, shoring up foreign reserves or to revamp state-owned refineries.

At $5 billion, the Aramco loan would be backed by at least 100,000 barrels per day of oil, the sources said. However, it would almost double the roughly $7 billion of oil-backed loans taken in the last five years.

Nigeria is using at least 300,000 bpd to repay NNPC’s other oilbacked loans, though one facility is expected to be paid off this month.

The amount of oil going towards repaying existing oil-backed loans is fixed, but when the crude price falls, it takes longer to repay them.

Additionally, lower prices mean the NNPC has to funnel more crude oil to joint-venture partners, from international majors like Shell to local producers like Oando or Seplat, for its portion of operation costs.

“You have to either find more oil, or find a way to renegotiate those deals,” another source said. Nigerian trading firm Oando is expected to manage the offtake of the physical cargoes, the sources said. Reuters said Oando did not comment.

lawmakers, totaling 460, for another special joint session where he will give official address.

As a way of sustaining the novel idea, the Leader said the Senate will soon come up with a legislation to institutionalize it.

Bamidele said: “We are hoping to bring a bill soon to institutionalize the President’s address on June 12 because of its historical importance. “There can’t be a better time to address the nation through the parliament than on June 12, especially since it is a joint sitting of the National Assembly”. He further revealed the proposed legislation would also seek to designate the National Assembly complex as the venue for future presidential swearing-in ceremonies. He said: “We are hoping in that bill, to ensure that the swearing-in ceremony of the next President and Commander-in-Chief of Nigeria, whom we believe is President Bola Ahmed Tinubu, will hold within the arcade of the National Assembly.” He added the Senate is considering an extension of the implementation period for the 2024 budget, particularly its capital expenditure component just as he hinted that before the end of the third legislative year, the constitutional amendment process shall be completed.

NNPC is trying to boost output, while Tinubu issued an executive order aimed at cutting production costs, which would free more money from each barrel.

Africa’s largest oil exporter assumed a price of $75 per barrel in its budget, with production of 2 million bpd. But in April, it pumped just under 1.5 million bpd, according to the May OPEC market report.

On the home front, the consequences of these forward sales are now being felt. NNPC’s commitment to deliver crude under these agreements has severely constrained its ability to meet its Domestic Crude Supply Obligation (DCSO).

This directly affects local refiners, including the Dangote Refinery, which have had to import crude oil despite Nigeria being a major oil producer. Such a paradox undermines the goal of achieving energy self-sufficiency and maximising the benefits of local refining.

But while NNPC’s forward oil deals may be helping to manage immediate fiscal pressures, they appear to be doing so at the expense of future oil revenues, domestic energy needs, and financial transparency.

Some of the deals, THISDAY had reported, stretch as far as 2034, effectively committing significant volumes of Nigeria’s crude production to external obligations for nearly a decade to come.

NGX Chairman, Dr. Umaru Kwairanga

Sunday

OLUREMI TINUBU IS UGOSIMBA 1 ENUGU...

L–R: First Lady of Enugu State, Mrs. Nkechinyere Mbah; wife of the Vice President, Hajiya Nana Shettima; Nigeria’s First Lady, Senator Oluremi Tinubu; Chairman, Enugu State Council of Traditional Rulers, Igwe Samuel Asadu; 1st Deputy Chairman, Igwe Julius Nnaji; 2nd Deputy Chairman, Igwe Godwin Madu; and 3rd Deputy Chairman, Igwe Herbert Ukuta, during the conferment of the chieftaincy title, Ugosimba I Enugu (Precious Jewel/Eagle from another kingdom), on Senator Tinubu during her two-day working visit to Enugu, yesterday

Every Vote Will Count in 2027, Peter Obi Assures Supporters

Nenadi Usman: Patriotism no longer passive admiration, but active participation Amadi advocates ballot box revolution

Chuks Okocha in Abuja

The presidential candidate of the Labour Party in the last general election, Mr. Peter Obi, yesterday assured his supporters that in the 2027 general election, votes will count.

Obi also lamented that Nigerians have been turned into refugees in

their own country, even when the country was not in war.

The former Anambra State Governor made the remarks during the presentation of a book titled: “Obi, the Political Change Agent” by former THISDAY staff, Ike Abonyi, in Abuja.

Obi, while calling for transparency in the 2027 election, cautioned against

any move to truncate the process.

He stressed, “We will make the election count and those who don’t want it to count, we’ll count them.”

He said Nigerians must rise and change the current political system, adding that the current structure does not care about the people.

The former Anambra State governor

highlighted the sufferings faced by Nigerians, as he listed issues troubling the country to include insecurity, poverty, theft, and lack of accountability by public officials, among others.

He urged collective efforts to dismantle the proceeds of ill-gotten wealth, insisting that “any country

where those in government are richer than business people is an unproductive country. A very simple definition of production is value.”

He said the current system was unproductive, adding that the country has raised “Nigerian masters” who have destroyed rail lines and other infrastructures built by the colonial masters.

voice arises that does not merely echo the people’s frustrations but dares to chart a new path for them. Mr. Peter Obi, whose life and political saga we unveil today, has become such a voice.

Tunji Bello Eulogises Vanguard Publisher Amuka Pemu

Obi further explained that to rebuild the country, Nigerians must make sacrifices as he disclosed that the Obidient movement would look for genuine people who are willing to fix the country at all levels.

at 90

Declares him living legend of Nigerian journalism

James Emejo in Abuja

Executive Vice Chairman/Chief Executive, Federal Competitive and Consumer Protection Commission (FCCPC), Mr. Tunji Bello, yesterday described the publisher of Vanguard Newspaper, Pa Sam Amuka-Pemu as a “living legend of Nigerian journalism”.

In his tribute to the media mogul who clocked 90 years, Bello highlighted his “indelible footprints - from reportorial to editorship to punditry to managerial - he is undeniably a complete newspaper man”.

He said only a “few, if any, can be said to come close to Pa Sam Amuka Pemu (fondly called Uncle Sam) in journalism practice in terms

of ramifications” in post-colonial Nigeria.

Bello fondly chronicled the publisher’s rise to stardom in journalism, noting that “From the outset, he (Amuka-Pemu) honed his exquisite writing skills under the tutelage of iconic poet, John Pepper Clark, at the Sunday Express, where the latter was features editor.

“From where he joined the Daily Times, then the flagship of Nigeria’s media industry.

“At individual level, Uncle Sam showcased his power of discernment and moral conscience through his popular column named ‘Sad Sam’ devoted to either pillorying power abuse or satirising the foibles of indulgent elite in the society.”

He said, “At managerial level,

Uncle Sam’s uncommon organisational acumen is perhaps best illustrated by the success stories of two of Nigeria’s oldest national dailies - The Punch and Vanguard.

“As a complete newspaperman, he was pivotal in the founding of the Punch with his accountant friend, Chief Olu Aboderin.

“Following a disagreement, he left to set up Vanguard. That the two newspapers are still standing 50 years later today is surely a testament to Uncle Sam’s Midas touch.

“Overall, perhaps Uncle Sam’s greatest strength is not just brilliant writing skills, but the moral integrity of his journalism.”

According to him, “He is a stickler for professional ethics

Court Declares Ikpako Odionwere Stool

Adibe Emenyonu in Benin City

The Benin Customary Court in Okada, Ovia North East Local Government Area of Edo State has declared the Odionwere (Headship) position of Ikpako Community vacant.

The court’s order followed a suit instituted by the elders on behalf of the people of Ikpako in which they sought its declaration of the position of Odionwere occupied by Mr. James Ailegboze vacant.

The claimants in the suit No.

ONEACC/2/2923 also urged

Vacant in Edo

the court to order the defendants to account for over N71 million belonging to the village they allegedly misappropriated.

The claimants, who sued on behalf of the village included, Osamwonyi Isaac, James Ayeta, Monday Osarennotor, Clifford Osayande, John Ekhuomakhuokho and John Obasaye The defendants included, James Allegboze, Aghomwantiti Godspower, Samuel Igbineweka, Alfred Oteghile and Dubri oil Company.

The claimants in the suit said the elders and indigenes of Ikpako

had unanimously passed a vote of no confidence on the Odionwere because of allegations of commission of sacrilege and corruption.

They had consequently placed the Ukhure (traditional staff of office) at the Oguedion (village court) on the floor, signifying the death of the Odionwere.

The claimants had consequently approached the court to declare the Odionwere’s seat vacant at the expiration of the traditional mourning period of three years of the death of an Odionwere.

and is reputed for his generosity of spirit to his workers. Just as he has never failed to lend his influential newspapers to the pursuit of worthy causes.

“Therefore, at 90, we cannot but celebrate Uncle Sam as a rare gift, not only to journalism as a profession but also Nigeria as a nation.

“Here is wishing the inimitable Uncle Sam many more years in good health, in the service of the nation and humanity in general.”

His remarks may not be unconnected to the activities of some federal lawmakers originally elected on the Labour Party platform but who have been criticized for allegedly abandoning their core opposition functions.

Also, in her remarks, Acting National Chairman of a faction of the Labour Party, Senator Nenadi Usman, said patriotism could no longer be restricted to passive admiration of leaders or ideas, but the active participation of citizens in changing society for the better.

She described the book as a timely literary work chronicling not only the political journey of one man, but the awakening of a nation’s democratic consciousness.

She said, “In every generation, a

“This book, meticulously authored and boldly titled, tells a story far beyond politics. It is the story of accountability against impunity, simplicity against flamboyance, principle against expediency and prudence against financial recklessness.

“The 250-page book we celebrate today not only examines Peter Obi’s public service but invites us to consider the bigger picture, the inevitability of a New Nigeria.

“Through 26 illuminating chapters, we are taken on a journey of disruption, reform, resistance, and rebirth.

“From the echoes of 1999’s democratic rebirth to the turbulence of the 2023 general elections, the book explores not just the man but the Obidient Movement, which has become an emblem of youth political awakening and civic courage.

“Let me commend the author, Ike Abonyi, for this bold and unflinching chronicle. The chapters on electoral intrigue, media battles, identity politics, and ideological tenacity are essential readings for anyone seeking to understand the shifting landscape of Nigeria’s democracy.

Constitution: Group Demands Removal of Sharia References, Says Nigeria Remains Secular State

Kuni Tyessi in Abuja

A human rights organizationEnd Sharia Now Campaign - has demanded removal of Sharia clauses from the Nigerian constitution, claiming the country is a secular state and cannot operate under a dual legal system.

Convener of #End Sharia Now Campaign, Benson Sunday, said the abolition of court that gives legal authority to any religious belief over citizens, as well as the reaffirmation and enforcement of Section 10 of the 1999 Constitution (as amended) which bans any form of religious governance at federal or state levels must be implemented.

In a statement made available to journalists yesterday, he said that 12 northern states have established

full functioning Sharia law systems including religious police (Hisbah), enforcement of codes on dress, alcohol consumption, gender relations, and even religious conversion, while noting that it is not just a northern issue, but a Nigerian challenge.

He added that despite the constitutional promise of religious neutrality, the current Constitution is heavily infused with Islamic elements - terms, institutions, and legal provisions that contradict the secular national identity as promised.

He therefore called on civil societies, religious leaders, political representatives, student groups, traditional rulers, and every freedom-loving Nigerian to join in the campaign demanding for a constitution that reflects a country that is modern, democratic, united, and secular.

The statement read: “Nigeria is a proud, diverse nation of over 200 million people - people of different faiths, ethnicities, cultures, and philosophies.

“Our investigation and analysis of the Nigerian Constitution reveal the following shocking statistics: The term Sharia appears 73 times, Islam appears 28 times, Grand Kadi appears 54 times, Muslim(s) appears 10 times. These terms are not symbolic or historical references.

“The immediate removal of all Islamic /Sharia references and institutions from the 1999 Constitution, including: Sections 260–264 (Sharia Court of Appeal - Federal), Sections 275–279 (Sharia Court of AppealState), provisions establishing the office of the Grand Kadi and Sharia judicial authority.

Email: deji.elumoye@thisdaylive.com

08033025611 sms only

As Campaign for Anambra 2025 Guber Poll Begins Today...

On Wednesday, June 11, 2025, campaigns for the governorship contest of anambra state would commence. David-Chyddy Eleke highlights the contenders and their visibility among electorates.

Anambra is one of the eight states that hold off-season governorship election in Nigeria. In fact, it is the first to introduce the trend through the doggedness of former governor of the state, Mr Peter Obi, who contested his removal from office after a governorship election was held in 2007 without completing his fouryear term. He sought the interpretation of his tenure and was later returned to office through the verdict of the court for him to complete his tenure. Since after then, other states where governors were able to return to power through court verdict after being rigged out have joined the offseason election effortlessly, and this depends on when they complete their tenure. Currently, seven other states who practice this include; Bayelsa, Kogi, Edo, Ondo, Ekiti, Osun and Imo states.

In Anambra, the state will hold its governorship election on November 8 as already announced by the Independent National Electoral Commission (INEC). The process has been on since last year, and currently, candidates have emerged from all the interested political parties. On June 11, INEC will be lifting ban on campaigns, and candidates would be expected to move into the 21 local government areas, 179 communities and 326 political wards in the state to canvass for votes.

Though there are 16 governorship candidates angling to take the governorship seat in the state, only about eight are noticeable. Their popularity may stem from the strength of their political parties, the clout of the candidate himself, among other reasons.

The candidates include Prof Chukwuma Soludo, Prince Nicholas Ukachukwu, Sir Paul Chukwuma, Mr John Nwosu, Hon Jude Ezenwafor, Chief Jeff Nweke, Dr George Moghalu/Jude Umennajiego, among others.

How they stand Prof Chukwuma Soludo Unarguably, Prof Chukwuma Soludo, the incumbent governor of the state, who is also seeking re-election is the

most popular. Besides being the governor of the state and having put up a sterling performance within three years on the saddle, Soludo is a technocrat whose ability is not in doubt.

His name far precedes him, and this he owes to his tenure as governor of the nation’s apex bank, Central Bank of Nigeria (CBN) where he initiated unsettling but very useful reforms that up till date have sustained the banking industry in Nigeria.

Beyond his work as Governor of CBN, Soludo’s performance in three years as governor of Anambra State has etched his name in the heart of the people of the state, including rural dwellers who the governor’s works have not been lost on; especially the opening up of roads in rural places, bridges and other infrastructural projects.

He will be going into the election with bags of endorsements, both from numerous political support groups, apolitical individuals, elder statesmen, market groups and many others. His highest support may also be the open endorsement of him, pronounced by President Bola Tinubu recently, during a visit to the state after touring his projects.

Soludo is highly favored for the seat, just as his party, All Progressives Grand Alliance (APGA) is now synonymous with the state. It won’t be a miracle if he achieves a landslide victory on November 8.

Prince Nicholas Ukachukwu

Prince Nicholas Ukachukwu, a businessman, is the candidate of the All Progressives Congress (APC). His emergence was seen as highly controversial, but what is important is that either by hook or crook, he has whipped all those who protested his emergence into line and also gained the acceptance of both the leader of the party, President Tinubu and the national leadership of the party, led by Alhaji Umar Ganduje. He was recently hosted at the Villa by the president, where he was handed the party’s flag, and he used the opportunity to introduce his running mate, Senator Uche Ekwunife to the president.

Many believe that Ukachukwu by every standard is no match for Soludo or some other candidates in the race, but three things may work for him. They are; the power of his money as he is believed to be very rich, his party which is the ruling political party and controls state apparatus and thirdly, the strength of his running mate, Ekwunife who is widely known to be a grassroot mobilizer. With Ukachukwu and Ekwunife on the ballot, many believe the contest

Though there are 16 governorship candidates angling to take the governorship seat in the state, only about eight are noticeable. Their popularity may stem from the strength of their political parties, the clout of the candidate himself, among other reasons. The candidates include Prof Chukwuma soludo, Prince nicholas Ukachukwu, sir Paul Chukwuma, mr John nwosu, Hon Jude Ezenwafor, Chief Jeff nweke, Dr George moghalu/Jude Umennajiego, among others.

may no longer be as cheap as was early thought. As campaigns commence, his popularity in the state or otherwise will become clearer.

Sir Paul Chukwuma

Educationist and businessman, Sir Paul Chukwuma is the candidate of the Young Progressives Party (YPP). Until a day to the APC primary election, he was a big force to reckon with in APC and was very well favored for the ticket of the party. He is well known as a party man and has held several positions in the APC, including National Auditor, Director General of campaigns for Senator Andy Uba, and a major financier of the party in Anambra State. His exit from APC led the party to lose a significant membership, most of who followed him to YPP. Going into YPP also helped him to inherit the structure already built by late Senator Ifeanyi Ubah, just as some of Ubah’s followers from APC left APC to join him. He hails from Umueri in Anambra East LGA in Anambra North. He will be on the ballot on November 8, but many say his victory remains doubtful.

Mr John Nwosu

Businessman and founder of ICT based company, Jetlink Limited, is the candidate of African Democratic Congress (ADC). He hails from Nnewi North LGA in Anambra South Senatorial Zone. He was an aspirant of the Labour Party but lost and recently picked the ticket of ADC through substitution. He prides himself as the one who has the solution to Anambra perennial insecurity and promises to tackle it through technology. His choice of ADC is strategic, especially with the ongoing talks of alliance, and if the coalition works, top politicians across the country who are involved in the alliance may join forces to boost his chances. But on the whole, he is considered a refined gentleman, who is not fit for the murky waters of politics.

soludo

Chukwuma

Ukachukwu

www.thisdaylive.com

Wednesday June 11, 2025

opinion@thisdaylive.com

A STEP AHEAD OF CHALLENGERS

President Bola Tinubu is a statesman, reckons GBOYEGA AMOBOYE

See page 23

CARBON EMISSIONS AND ICT SUSTAINABLE DEVELOPMENT

Rising carbon emissions may hinder development, argues SONNY ARAGBAAKPORE

See page 23

For many people in Nigeria, the last two years were hell on earth, writes BAWA ABUBAKAR

NO CHANGE FOR THE BETTER

Nigeria is indeed an interesting place and we are currently living in a very interesting time. I dare to say that we are living in a strange time such that we have never experienced before in our dear country Nigeria.

The situation in my side of the country up north is so bizarre it feels like we are in a horror movie. The so-called subsidy removal and exchange rate equalisation announced by the president in his inauguration speech impacted us up here instantaneously.

Before the president stepped down from the inauguration podium most petrol stations had closed their gates, virtually chasing out even motorists at the pumps.

When they reopened a few days later, petrol pump price had jumped from about N250.00 to about N550.00. That was in May 2023. By December ending 2023, it was as if Armageddon had come early in the north. Fuel price was over N700 per litre; exchange rate was about N860/$ and hunger and malnutrition raged around us. We saw infants withering and dying before us. It was indeed a shock treatment as described by the British newspaper Financial Times.

We thought President Muhammadu Buhari was very poor at the job considering that Nigeria even suffered an economic recession in 2016. We cried and wailed about hardship in the north. Little did we know we were in paradise all the while.

As an economist and entrepreneur who has been trying to cobble together numerous small scale businesses since the past 10 years, I began to reflect upon what has transpired over the decade. How my potable water production business and grains farm have almost vanished in the last two years and my workers dissipated. The abrupt fuel price hike hit my little factory hard. We shut down temporarily... and we could never open again till today.

I remembered the immediate past governor of the CBN, Mr. Godwin Emefiele. I had worked in a private firm postgraduation from university until I latched on to one of his numerous development finance programmes.

I thought the Youth Entrepreneurship Development Programme (YEDP) was a ruse. Which youth trusted the Nigerian government? But my friend who had succeeded convinced me to apply.

I got an initial five million naira for the production of potable water. It was the peak of dry season in Kaduna. It was so successful I was able to pay back in record time.

I applied for another loan under another development finance scheme called: 100 for 100 Policy on Productivity (PPP).

I invested in maize production. It was also a good and profitable investment. I was able to repay the principal before the new sheriffs came to the CBN in 2023.

Virtually all those direct intervention development finance programmes have

been thrown out so to speak. Like the new government, the CBN seems to have no human face whatsoever.

This must explain why there's so much poverty in Nigeria today. In the land of plenty like Nigeria, there should never be so much hunger, starvation and poverty across the country. Not to mention the increased violence and bloodshed across the north.

It was laughable to me when Mr Emefiele was first picked up on the charge of sponsoring terrorism. Then we heard he was being held for gun running. When all these failed, they accused him of all sorts of things.

It was of course all politically motivated. Never in the history of Nigeria has a CBN governor been so dragged. A man who has been in banking all his life, rising to become the GMD of one of the largest private financial holding companies in Africa was never a pauper.

It becomes laughable when such a person is being accused of pilfering foreign currency through his office boy. They said he bought some property here and there. And the question is: is there any property the head of the largest bank in Nigeria cannot afford? Well, that's for the courts to decide.

But the point they will not admit is that Nigeria wouldn't be the hell it is today if Emefiele's robust macroeconomic policies had subsisted in the CBN till date.

The difference between Emefiele and the crew at the bank today is worlds apart. Let me enumerate just a few. Corruption: I knew CBN a bit having participated in their loan schemes.

My friends still working in the bank say no senior management appointments are made on merit or seniority any more. Those who want it badly have to pay heavily for itand in dollars too.

So major appointments are now purchased. Of course fresh jobs are almost

100% offered on ethnic considerations. Merit is in abeyance at the CBN now.

Disco metering programme: Since Emefiele left the CBN, hardly has any electricity distribution company given out meters.

In 2020, Emefiele's CBN introduced the Nigeria Mass Metering Programme (NMMP) which facilitated nearly one million smart electric meters. This was installed for consumers free of any immediate charges. The cost recovery was built into subsequent energy purchases by the consumer.

Most electricity consumers in Nigeria would probably have been metered today if the scheme had been allowed to continue. Yet, despite the exorbitant rates of meter delivery to consumers, DisCos still cannot deliver. Even after payment.

The CBN had so many programmes then that people began to wonder whether it was the economic ministry. We all remember that about 44 basic products were barred from official Forex allocation. Today, we have not only jettisoned that rule, FG officially provides funds in trillions of naira for the importation of grains.

Nigeria was almost becoming selfsufficient in rice production with mills growing exponentially. Today, many rice mills are no longer producing because there is no paddy to mill.

CBN used to have electricity stabilisation facilities. Today the average Nigerian cannot afford electricity.

More money for government, more trouble for the people: They accused Emefiele of accumulating ways and means borrowings of over N30 trillion in nine years. But in two years Ways and Means has exceeded 10 trillion already. We don't even have proper records anymore.

The FG is awash with cash today, having removed subsidy, closed Forex arbitrage, hiked taxes and levies, not to mention stupendous borrowings. Yet the economy is far worse than it was. Nigeria is melting and our people are dying of hunger. Where's all the money gone?

The simple difference is that Emefiele and Buhari were applying Nigeria's revenues to develop the country and sustain the well being of the people.

Finally, there's no doubt that Nigerians are missing Emefiele and Buhari's time already just after two years of the current administration. We must not forget that these two men vehemently refused to devalue our naira in spite of threats from the West. They also resisted removing fuel subsidy in one swoop, knowing it would hurt the Nigerian poor irretrievably as we see happening today.

Abubakar, an economist/entrepreneur, writes from Kaduna

President Bola Tinubu is a statesman, reckons GBOYEGA AMOBOYE

A STEP AHEAD OF CHALLENGERS

President Bola Tinubu is a man of history. In politics, he is as skillful as Charles Talleyrand, the French Foreign Minister at the Congress of Vienna in 1915 and as smart as Metternich, the Austrian Foreign Minister at the same Congress. Though France was vanquished, Talleyrand was able to play the victorious European countries that defeated Napoleon against each other to the advantage of France. Where Napoleon Bonaparte has failed, Tinubu has succeeded. Any wonder he is always a step ahead of his challengers including Baba Olusegun Aremu Obasanjo, the overbearing Ebora Owu. He outsmarted Obasanjo in the battle for the control of Lagos State in 2003.

To Obasanjo's suprise Tinubu became the first Yoruba he could not stop from becoming President. He had stopped the great Chief Obafemi Awolowo in 1979 and said Abiola was not the expected Messiah after the annulment of the June 12 1993 Presidential election. Obasanjo tried in vain the "Orubebe formula" to get the election of President Tinubu annulled in 2023.

As destiny would have it President Tinubu has become the undisputed champion in the running battle between him and Obasanjo. It may be inadvertently, the President proves that a new Sheriff is in town. He reverted to the old National Anthem rested by then Obasanjo before leaving office as Head of State in 1979.

Baba is fond of renaming National monuments as if the masquerade is to blame and not the face behind it. For instance, he changed the logo of the Nigerian Airways from a flying Elephant to Eagle. In the first Republic, Nigeria operated a less expensive parliamentary system. But was replaced with the presidential system of today. Perhaps with a new Sheriff it may be goodbye to Egypt soon.

A skilful politician per excellence, President Bola Tinubu is likely conversant with "Owe Akala, Oju a t'urari," meaning the proverb of Akala, destiny may bring us together again. Many of us might have read the popular Alawiye by J.F. Odunjo in our primary school days.

Akala is a bird. When caught in a hunter's snare, it pleaded with the hunter to spare its life because destiny might bring them together again. Indeed the future came too soon when it was only Akala that could save the life of the hunter.

Where political shylocks would demand a pound of flesh, President Tinubu remembers 'owe Akala'. Statesman, is a word often abused. The press in particular is guilty of labeling anybody a statesman even if devoid of credibility. Statesmanship should be associated with nobility. President Bola Tinubu demonstrated nobility by ordering the reopening temporarily, the PDP secretariat along with others, shut down by the Minister of the Federal Capital Territory, Chief Nyesom for non payment of tenement rates. While as expected some opponents of PDP might be rejoicing over it's travail, the President demonstrated statesmanship. All his political career, the President has never been found wanting in humanity.

He was as good as becoming the President of the Senate in 1992 but conceded it to the North and settled for Senate Leadership

even though President Babangida was from the north.

In the course of the race for the APC Presidential Primaries in 2023, even when it became obvious that President Muhammadu Buhari was against his candidacy, Bola Tinubu remained unperturbed. He focused on the ball when it should have been pay back time having helped Buhari to power in 2015.

However if Buhari had forgotten the past, many other political associates never did. Party stalwarts including governors defied Buhari to stand with Tinubu. This is where he succeeded, where Napoleon failed. Napoleon once cartooned as the butcher of Europe, never spared his victims. But he never read Alawiye so he was not conversant with Owe Akala. It was therefore an opportunity for eight European countries to unite against him at the Battle of Waterloo in June 1815 where France was defeated and Napoleon sent out of history, where Tinubu is finding allies even in his 'grateful enemies'.

In Israel, we were shown the house of the 'bonus lastrus, good thief' as the thief on the right hand side of Jesus at crucifixion is called. So there are equally good enemies.

The gale of defections to the APC from other political parties is a demonstration of appreciation and trust reposed in the President. This does not mean it would lead to one party system.The Peoples Democratic Party is too strong to die just yet, but would remain a god with a foot of clay.

While his predecessors from Ibrahim Babangida held on to funds raked in from fuel subsidy withdrawals, Tinubu shares the money monthly among states and local governments to enable them develop their people and alleviate poverty. Unfortunately many state governments are yet to cope with the expectations of the President for an even development of the country.

Obviously defectors to APC might have realised that more time is required to build a nation where other political opponents are clamouring for a change of government after two years out of four in the first instance. While some critics may be eager to quote development in Singapore under President Lee Kuan Yew they have failed to note that it took him 31 years to build a country of just 5.7m people.

As one congratulates Mr. President on the halfway journey, it is two years down, two up and the future belongs to the Almighty.

Amoboye writes from Lagos

Rising carbon emissions may hinder development, argues SONNY ARAGBA-AKPORE

CARBON EMISSIONS AND ICT SUSTAINABLE DEVELOPMENT

The Information and Communications Technology (ICT) sustainable development by 2030 is being threatened.

Reasons? Carbon emissions are on the rise and may further increase thereby reducing the speed of development as the problem had to be addressed and threats removed to gain momentum in the growth of ICT.

In spite of the manifest progress recorded so far in the efforts to bridge the digital divide especially in connecting the unconnected 2.6B population that is offline, carbon emissions remain a drawback.

Global ICT regulator, the International Telecommunications Union (ITU) is worried and says so in clear terms that unless urgent remedies are put in place, ICT sustainable development may remain a pipe dream.

The ITU is particularly worried about the place of Artificial Intelligence (AI) despite its beauty in the growth of the sector.

“Advances in digital innovation — especially Artificial Intelligence (AI) are driving up energy consumption and global emissions," said ITU Secretary-General Doreen Bogdan-Martin. “While more must be done to shrink the tech sector's footprint, the latest Greening Digital Companies report shows that industry understands the challenge — and that continued progress depends on sustaining momentum together." In Geneva,Switzerland the ITU released a report On June 5,2025,saying the “tech sector carbon emissions continued their rise in recent years, fueled by rapid advances in artificial intelligence (AI) and data infrastructure”citing Greening Digital Companies 2025 report. The report, produced by the ITU and the World Benchmarking Alliance (WBA), tracks the greenhouse gas (GHG) emissions, energy use, and climate commitments of 200 leading digital companies as of 2023, the most recent year for which full data is available.

While the yearly report calls on digital companies to address their growing environmental footprint, it also indicates encouraging progress.

Worldwide, more companies had set emissions targets, sourced renewable energy and aligned with science-based frameworks.

According to the latest edition of the report, electricity consumption by data centres— which power AI development and deployment, among other uses — increased by 12 per cent each year from 2017 to 2023, four times faster than global electricity growth.

Four leading AI-focused companies alone saw their operational emissions increase in the reporting period by 150 per cent on average since 2020. This rise in energy that is either produced or purchased – known as Scope 1 and Scope 2 emissions – underscores the urgent need to manage AI's environmental impact. In total, the amount of greenhouse gas emissions reported by the 166 digital companies covered by the report contributed 0.8 per cent of all global energy-related emissions in 2023.

The 164 digital companies that reported electricity consumption accounted for 2.1 per cent of global electricity use, at 581 terawatt-hours (TWh), with 10 companies responsible for half of this total. “Digital companies have the tools and influence to lead the global climate transition, but progress must be measured not only by ambition, but by credible action," said Lourdes O. Montenegro, Director of Research and Digitisation at WBA. “This report provides a clear signal to the international community: more companies are stepping up, but emissions and electricity use continues to rise.”

“The Greening Digital Companies report has become a vital tool in tracking the climate footprint of the tech sector," said Cosmas Luckyson Zavazava, Director of ITU's Telecommunication Development Bureau. “Despite the progress made, greenhouse gas emissions continue to rise, confirming that the need for digital companies to adopt science-aligned, transparent, and accountable climate strategies has

never been greater. ITU's work in monitoring the environmental impact of the sector is a crucial step towards achieving a sustainable digital transformation."

ITU's Telecommunication Development Bureau is working with regulators, statisticians, academics, and industry experts to define indicators that support national GHG monitoring and data-driven action through the Expert Group on Telecommunication/ICT Indicators.

As the COP30 UN climate conference approaches, ITU's Green Digital Action aims to ensure that updated climate pledges and adaptation plans will fully reflect the complete impacts of digital technologies. Although emissions continued their rise, Greening Digital Companies 2025 highlights steps taken by many tech firms that suggest a strengthening of transparency and accountability. Eight companies scored above 90 per cent in the report's climate commitment assessment on data disclosure, targets and performance. This is up from just three in last year's report. “For the first time, the report includes data on companies' progress toward meeting climate targets and realizing stated netzero ambitions. Almost half of the companies assessed had committed to achieving net-zero emissions, with 41 firms targeting 2050 and 51 aiming for earlier deadlines,” the report stated. Other trends among the 200 digital companies featured in the report include: Renewable energy adoption where 23 companies operated on 100 per cent renewable energy in 2023, up from 16 in 2022.

On dedicated climate reporting,49 companies released standalone climate reports, signaling greater transparency.

Scope three consideration highlighted the number of companies publishing targets on indirect emissions from supply chains and product use rose from 73 to 110, showing increasing awareness of industry impacts.

A call for bold, collaborative and immediate action highlights how the tech sector can ensure long-term digital sustainability, according to the joint ITU-WBA report and recommends that companies: strengthen data verification, target ambition and climate reporting, including publishing climate transition action plans; disclosing the full environmental footprint of their AI operations; fostering cross-sector collaboration among tech firms, energy producers and environmental advocates, alongside industry initiatives to drive accelerated digital decarbonization, and keep accelerating renewable energy adoption. Industry reports indicate that “two months after its release in November 2022, OpenAI’s ChatGPT had 100 million active users, and suddenly tech corporations were racing to offer the public more “generative A.I.” Pundits compared the new technology’s impact to the Internet, or electrification, or the Industrial Revolution — or the discovery of fire.

Aragba-Akpore is a member of THISDAY Editorial Board

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

WAEC AND MIDNIGHT EXAMINATION

An overhaul of the education system is needed to curtail the malaise

Barely a month after the Joint Admissions and Matriculation Board (JAMB) suffered a major glitch during the 2025/2026 Unified Tertiary Matriculation Examination (UMTE), the West African Senior School Certificate Examination (WASSCE) recently suffered an embarrassing disruption. The English Language paper was reportedly leaked in some parts of the country, prompting the examination body to reprint new sets of questions. The problem forced many candidates in Lagos, Ogun, Taraba, and some other states to sit the exam as late as 12 midnight, relying on torchlights and lanterns in the absence of electricity. The development has called to question the integrity of educational assessments in the country.

It is noteworthy that some few weeks to the current exam, WAEC revoked the licenses of 574 secondary schools across the country for committing several examination malpractices. The schools were not allowed to conduct the 2025 West African Senior School Certificate Examination. But these have been largely ineffectual. In 2021, 79.5 per cent WAEC results were affected by examination malpractice while 55.6 per cent were affected in 2022. Indeed, to address the problem, WAEC has implemented some measures in the past including withholding results of students, and barring schools from conducting exams.

other electronic devices to collusion, bribery, impersonation, to obtaining exam questions before the exam as in the present case, exam malpractices pose a significant risk to the dependability of examination results and certification of our students.

Although WAEC’s Acting Head of Public Affairs, Moyosola Adesina, has cited logistical challenges and security concerns as inadvertently affecting “the timeliness and seamless conduct of the examination,” many see it as a convenient excuse. One major proof of the downward slide in the education sector is the growing cases of examination malpractice. Recent media reports have shown that the vexatious issue, rather than abate, has been on a steady rise. This has become a cause of grave concern considering the destructive effects on the education sector in the country.

Malpractices not only undermine fairness and equal opportunity, they also distort the accuracy of educational evaluations of students

T H I S D AY

EDITOR SHAKA MOMODU

DEPUTY EDITOR WALE OLALEYE

MANAGING DIRECTOR ENIOLA BELLO

DEPUTY MANAGING DIRECTOR ISRAEL IWEGBU

CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI

EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN THE OMBUDSMAN KAYODE KOMOLAFE

About two million candidates registered for this year’s WASSCE across 23,554 schools in the country. But some unscrupulous officials of the exam body were believed to have been responsible for the leakage of some question papers about four days before the examination. Aside from English language, other leaked subjects included Geography, Physics, and Literature-in-English, sold on the social media for between N1,500 and N5,000.

Malpractices not only undermine fairness and equal opportunity, they also distort the accuracy of educational evaluations of students. But over the years, misconducts of all stripes have become pronounced in our examinations. From cheating with the aid of phones or

T H I S D AY N E W S PA P E R

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA

GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU

DIVISIONAL DIRECTORS SHAKA MOMODU, PETER IWEGBU, ANTHONY OGEDENGBE

DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI

SNR. ASSOCIATE DIRECTOR ERIC OJEH

ASSOCIATE DIRECTOR PATRICK EIMIUHI

CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI

DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO

TO SEND EMAIL: first name.surname@thisdaylive.com

Letters to the Editor

such letters along with their contact details to opinion@thisdaylive.com. We

Today, rather than read their books and prepare adequately for exams, many students at various levels look for an opportunity to cheat. It is even more disheartening to know that some parents connive with school authorities to perpetrate this social malady. This is regarding mostly state and federal government-owned secondary and tertiary institutions. In the first place this is part of the general corruption the country is trying to uproot. Examination malpractice involves bribery, stealing, and even prostitution. It also portends great danger to the quality of our human capital and by extension, our workforce.

A thorough overhaul of our education system should be initiated and implemented urgently to curtail this malaise. This should include addressing the problem of inadequate funding, poor teaching quality, and related issues. In addition, anti-malpractice measures should be enforced while increased surveillance, stricter penalties should be imposed. The legislature needs to update the laws with severe sanctions to act as a deterrent to students, teachers, institutions and parents alike. The re-introduction of reading and library classes as compulsory components in primary and secondary schools will help to stimulate and inculcate the reading culture in students.

welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (750- 1000

They should be sent to opinion@thisdaylive. com along with photograph, email address and phone numbers of the writer.

YAKUBU GOWON AND GHOSTS OF THE CIVIL WAR

As a country, Nigeria has known gut-wrenching agony and heart-wrenching tragedy. In 1967, fresh out of triumphantly giving the British and their brand of vicious colonialism a shove down the steep recline of history, Nigeria was confronted with a tragic civil war that threatened to break it apart. Ominously, the raging war which saw countless children starved to death threatened to turn the British prognosis that Nigerians could not govern themselves into prophecy. All these happened because young, exuberant and ruinously reckless military officers failed to check their hubris and histrionics.

By the passage of time, many of those who played key roles in the war have gone to join their victims. Many of them left without ever rendering a full account of what transpired during the war.

However, 90-year-old General Yakubu Gowon has survived and he recently stirred the ghosts of the civil war by pronouncing that it was never his choice and that he had no choice in the matter.

The civil war was a time of unimaginable turmoil for a newly independent country. Suddenly, it was as if Nigeria’s worst fears were upon her. With country men turning deadly weapons against their fellow country men, for once, it appeared as if Africa’s most

promising country was about to self-destruct.

At the tip of the spear which threatened to impale Nigeria was a collection of military men who set the catastrophic course of events in motion with the disastrous military coups of 1966 and 1967.

A newly independent country which was still struggling to find its feet was always going to make silly mistakes, but the ruthlessness with which the young, intemperate military officers pounced to scuttle the direction of the country bespoke the kind of ambition that ruins empires.

At the end of the civil war, of course, after countless children had died of starvation, Gowon was the Nigerian military president who called for healing and unity, famously declaring that there was no victor and no vanquished.

It is doubtful that Nigeria can ever recover completely from that terrible period. What the country has largely and creditably done is to move on from those months of horrible bloodshed. Confronting the historical trauma is another thing though and with Gowon’s recent attempt, it is clear that those left of the group that presided over and precipitated Nigeria’s darkest days have found neither compunction nor closure. How could they?

The ghosts of the Nigerian civil war have shown their undiluted potency in the way they haunt Nigeria. What they must be doing to those who oversaw the war and are yet to join their ancestors is better imagined than experienced.

For the generation of the Nigerian military that spun the country into the disastrous civil war, their legacy written in those bloody days is one of blood, especially the blood of children. For those like Gowon who survived the war and still live until this day, blood remains on their hands and conscience, stubbornly refusing to go away, no matter how hard they scrub.

Gowon has worked hard to appease the ghosts of the civil war. In fact, his entire life since he left office has been one long act of reparation. He has convened prayers for Nigeria, convoked national conversations and coordinated health missions to eradicate killer diseases. He comes off as a man in desperate search of inner peace. But with him, one gets the feeling that the wound on his conscience by the Nigerian civil war is one that cannot be healed.

Kene Obiezu, keneobiezu@gmail.com

Following the decision of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to retain Monetary Policy Rate (MPC) at 27.50 per cent for the second consecutive meetings this year, the average interbank call rate in the Nigerian banking sector dropped to 26.50 per cent as of June 02, 2025.

For the second consecutive meetings in 2025, the MPC of CBN voted to retain MPR at 27.50 per cent in a move to tackle inflation rate and stabilize the foreign exchange market.

Also, the members also cited the need to monitor global economic uncertainties before adjusting key monetary tools.

Average interbank call rate is the rate at which banks lend and borrow money from each

Nume Ekeghe

Nigeria’s foreign exchange market witnessed a significant boost in May, with total inflows rising by 62.0 per cent month-on-month (M-o-M) to $5.96 billion, driven largely by increased participation from domestic and foreign investors.

This marked the highest inflow level in recent months and signals improving market sentiment amid macroeconomic reforms and a relatively stable naira.

Meanwhile, the Central Bank of Nigeria (CBN) Purchasing Managers’ Index (PMI) for May sustained its expansionary trend

other on a short-term basis.

The interbank call money rate is primarily determined by the demand and supply of funds in the interbank market and is used as a benchmark rate for other short-term lending rates. It is exactly like when a person borrows money from someone and promises to repay it the next day but with interest.

Since the MPC announced that MPR should remain flat at 27.50 per cent on May 20, 2025, the average interbank call rate has witnessed drastic decline from above 30 per cent.

Data by CBN revealed that the average interbank call rate jumped to 31.50 per cent in January 17, 2025, which is the highest since October, 2017 when it reached a peak of at 43.78 per cent.

The average interbank call rate, which opened the new year at 26.5

for the sixth consecutive month, although it recorded a marginal decline to 52.1 points, down from 52.2 points in April.

But Cordros Securities’ latest macroeconomic update report showed that the rise was primarily fuelled by a surge in local sources, which accounted for 83.2 per cent of total inflows, while foreign sources contributed 16.8 per cent.

On FX inflow, it stated: “According to the data from FMDQ, total inflows into the Nigerian Foreign Exchange Market (NFEM) surged by 62.0 per cent m/m to $5.96 billion in May, April: $3.67 billion. The improvement was primarily due to a substantial

per cent, crossed the 30 per cent mark to 30.15 per cent on January 13, 2025 and it has reached its peak of 31.85 per cent this year.

Data sighted by THISDAY on the CBN website revealed that the weighted average call rate closed December 2024 at 28.83 per cent from 16.43 per cent January 2024.

Further findings showed that the average interbank call rate had opened at 14 per cent in January 2023 and closed at 12 per cent December 2022.

In 2024, as the MPC of CBN was increasing MPR, the average interbank call rate also grew significantly.

Specifically, when the average interbank call rate was at 18.75 per cent in January 2024, the average interbank call rate stood at 16.43 per cent.

Meanwhile, the increase in MPR to 22.75 per cent in

increase in inflows from both local, 83.2 per cent of total inflows and foreign 16.8 percent of total inflows sources.”

This was, however, accompanied by a decline in central bank inflows, which fell to $649.8 million in May from $1.35 billion the previous month—reflecting the apex bank’s continued retreat from its dominant role in the FX market in favour of market-driven liquidity.

Foreign sources also posted a robust 51.7 per cent month-onmonth increase, totalling $997.6 million, the highest level in three months. The report attributed the uptick to a resurgence in foreign

February 2024 saw a growth in the average interbank lending rate to 19.25 per cent.

In addition, MPR at 27.50 per cent impacted on the average interbank rate that closed 2024 at 28.88 per cent and that was the highest in 2024.

Analysts have attributed the downward in average interbank call rate to stable MPR, calling on banks to relate the changes in lending to customers.

The Vice President, Highcap Securities Limited, Mr. David Adnori said the 26.50 the per cent average interbank call rate is an implication of enough on liquidity in the money market at the moment.

He expressed that the CBN status quo on the MPR also contributed to the downward movement in interbank call rate, maintaining its importance

portfolio investment (FPI), which rose by 61.3 per cent to $880.8 million, alongside a 10.0 per cent increase in inflows from other corporates. However, foreign direct investment (FDI) recorded a slight dip of 6.3 per cent to $32.9 million.

“In the near term, we anticipate that foreign exchange inflows will continue to improve, supported by growing market confidence. However, the lingering global trade uncertainties remain a downside risk to robust inflows from foreign counterparts, potentially constraining growth in overall FX liquidity,” Cordros states.

In a related development, the

of slowing down inflation rate and stabilizing the economy at large.

“The average Interbank Call Rate remaining at 26.50 per cent is primarily determined by the demand and supply of funds in the interbank market and is used as a benchmark rate for other short-term lending rates. It is often an important indicator of the overall liquidity and health of the banking system,” he added.

As the average interbank call rate increases, the rate of which the banks lend to customers was not left out.

According to the CBN data, the average maximum lending rate in the Nigerian banking industry increased to 31.19 per cent in March 2025, setting another record high since 2019 when it was at 31.43per cent. Maximum lending rates refers to the average of the highest lending rates charged by deposit

Central Bank of Nigeria’s PMI for May sustained its expansionary trend for the sixth consecutive month, although it recorded a marginal decline to 52.1 points, down from 52.2 points in April.

The PMI reading, which measures the direction of economic activity in the private sector, reflects continued but moderate growth across major sectors.

“Agriculture sector PMI (53.4 points vs April: 53.8 points) fell slightly due to a slowdown in general farming activities and inventories,” the report stated, adding that the Industry PMI (51.6 points) and Services PMI (51.7

money banks in Nigeria. From the CBN’s ‘money market indicators’, THISDAY gathered that an increase in the average maximum lending rate has a relationship with a hike in MPR. In 2024, the CBN increased the MPR six times, with the primary objective to address key economic challenges such as double-digit inflation, foreign exchange stability, and financial system stability. When inflation is high (currently at 23.71 per cent as of April 2025), the CBN retains the MPR to make borrowing more expensive and saving more attractive. However, the steep increase in the policy rate has sparked concerns regarding the potential impact on the cost of credit for businesses already facing economic hardships.

points) also declined marginally due to easing activities in sectors such as transportation equipment, electricity and financial services,” the PMI said.

Despite the moderation, analysts at Cordros maintained a positive outlook for private sector activity, noting that improving macroeconomic fundamentals, such as a more stable naira and declining inflation, will likely support further expansion.

“Nonetheless, tight financial conditions remain a potential headwind to broader economic performance in the near term,” the firm cautioned.

Kayode Tokede

Lekki Freeport t ermina L :

Repositioning Nigerian Maritime Sector for Growth

Lekki Free Terminal continues to put the wind in the sails of its operation through consistent deployment of technological innovations and strategic collaborations that have helped to drive progress, writes Sunday ehigiator

With a focus on capturing regional growth by connecting global trade and infrastructure development, Lekki Freeport Terminal is efficiently bridging the supply chain gap in trade between Nigeria and the rest of the world. For a maritime sector grappling with infrastructure development, obsolete ports, and shallow draughts, the emergence of LFT in the Nigerian maritime sector has solidified the country’s position as a maritime hub, featuring expanded berths and terminals that can accommodate large vessels, as well as a modern port equipped with state-of-the-art facilities. All these factors are enhancing connectivity to international markets and driving economic growth, with the presence of CMA-CGM, Maersk, COSCO Shipping, ONE, and ZIM, leading shipping lines that further solidify the terminal’s role as a key player in global trade.

OpeRatiONal excelleNce

aS pROGReSS DRiveR

Lekki Free Terminal continues to put the wind in the sails of its operation through consistent deployment of technological innovations and strategic collaborations that have helped to drive progress. With a remarkable 40 per cent year-on-year growth in throughput volume for 2025, the terminal’s capacity and quality of service delivery as a preferred gateway for Nigeria’s import and export trade were further solidified. This can only be attributed to its strategic collaborations, which contribute to the efficiency of port operations and operational excellence, supported by state-of-the-art facilities. This enables vessels to have a quick turnaround time and experience seamless cargo handling, compared to other ports in the country.

As proof of its influence and partnership in enabling efficient and seamless operations, the terminal enjoys the support of regulatory agencies, including the Nigerian Ports Authority, Nigerian Export Processing Zones Authority, Nigeria Customs Service, Nigerian Drug Law Enforcement Agency, Nigeria Police, and the Department of State Services. The support and cooperation of these agencies have contributed immensely to the success of the port with their presence affirming a commitment to streamlining operations and facilitating the

smooth movement of cargo. The terminal’s design, along with its state-of-the-art postPanamax ship-to-shore cranes, RTGs and other cargo handling equipment, sets it apart from other overcrowded terminals, enabling it to operate free of congestion, both at the quay and in the yard. Thereby, guaranteeing optimal vessel productivity during discharge and load operations.

The service delivery and state-of-the-art facilities continue to attract businesses to the port. A case in point is the presence of leading shipping lines of international repute. Currently, CMA CGM, Maersk Line, COSCO, Ocean Network Express (ONE), and ZIM/GSL make weekly calls at the port, a marker that further cements the ambition of the LFT to become the leading maritime hub in West Africa. These services are expected to attract more foreign direct investment (FDI) and enhance Nigeria’s standing in global maritime trade.

At the time the shipping line services

“a major factor in lft ’s efficiency is the heavy investment in infrastructure, which has enabled increased efficiency and safety. with a strong focus on automation, the terminal deploys technology and robotics to streamline various processes, including cargo handling, gate operations, and tracking. this has boosted overall port operations by reducing human errors and improving productivity.”

were launched, both Lekki Port and Lekki Free port Terminal management described it as a significant milestone in the terminal’s development and expansion of capacity noting that through strategic collaborations with global shipping leaders, LFT is strengthening its international presence and creating new opportunities for trade and industrial growth in Nigeria and the region.

This milestone was also described as a reflection of LFT’s commitment to positioning the nation as the leading maritime hub in West Africa.

StiMulatiNG pRODuctivity with iNfRaStRuctuRe, acceSSibility

A major factor in LFT’s efficiency is the heavy investment in infrastructure, which has enabled increased efficiency and safety. With a strong focus on automation, the terminal deploys technology and robotics to streamline various processes, including cargo handling, gate operations, and tracking. This has boosted overall port operations by reducing human errors and improving productivity.

Add these innovative approaches to its seamless cargo inspection under the surveillance of two FS 6000 scanners with capacity to scan containers in a matter of minutes, along with the availability of four boats provided and operated by the Nigerian Ports Authority to ensure safe navigation and berthing of large vessels, it is more than enough to agree that in a matter of years, the terminal will be a reference point across Africa.

A significant infrastructural boost is the soon-to-be completed Coastal Road and the recently approved construction

of the 7th Axial Road, which brings light to the tunnel of accessibility to the port. The two roads are strategically important for port connectivity, making cargo evacuation from Lekki Port convenient and fast.

Spanning a distance of 25 kilometres, with completion projected for 2028, the 7th Axial Road —a dual carriageway —will provide a critical alternative route, offering direct access to the A121 Lagos-Benin Expressway. It is expected to reduce travel time for cargo evacuation from Lekki Port significantly. Currently, trucks travelling from LFT to Lagos via the Coastal Road and the A121 corridor spend an average of 4.5 hours on the journey. The 7th Axial Road is projected to cut this travel time significantly, improving cargo flow, reducing turnaround time, enhancing port efficiency, and lowering overall logistics costs.

These developments will further boost turnaround time at LFT, considering the multiple access corridors and ongoing roads upgrade initiatives underway, including the federal government’s consideration of connecting the axis to the national rail network. This, if made possible, will enhance trade by facilitating the evacuation of cargo from the terminal to other parts of the country, as well as to neigbhouring landlocked countries. In terms of time efficiency, the terminal holds an enviable reputation as the most efficient maritime gateway in the country, with truck service time at its gates standing at 1.1 hours, a figure that no Lagos-based terminal can match.

Over the last two years, dignitaries who have visited the terminal have consistently praised its technological advancements. So, it was no surprise to learn that the Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, who recently made his official visit to Lekki Deep Sea port commended the management of Lekki Deep Seaport and LFT for their unwavering commitment to operational excellence and port optimization. He went on to state that the NPA will benchmark Lekki Port and LFT’s cutting-edge infrastructure and advanced technology in its broader port modernisation programme.

Still enamoured by the innovation and efficiency, he highlighted the port’s growing transhipment volume, which is meeting the maritime demands of neigbhouring countries and supporting the NPA’s objective of achieving economies of scale. Also, how LFT’s fully automated operations align perfectly with NPA’s goal to implement the Port Community System (PCS), which will pave the way for the long-awaited National Single Window (NSW), designed to streamline the nation’s trade processes.

Echoing the thoughts of the MD of NPA, it is reassuring to know that the future is indeed very bright for the Nigerian maritime sector going by the exceptional praise of the LFT and Lekki Port’s ability to berth super post-Panamax vessels and deliver rapid cargo and vessel turnaround, which he describes as “a strategic asset in enhancing Nigeria’s export competitiveness.”

Experts: Investment Crucial to Making Agriculture Scalable, Profitable

Experts in Nigeria’s food and agriculture ecosystem have renewed calls for increased investment, insisting that unlocking the sector’s potential requires a deliberate focus on financing, infrastructure, and data-driven systems.

This was the central message at the inaugural PricePally Impact Summit, held in Lagos with the theme, “From Farm to Table: The Future of Fresh Foods – Sustainable,

STL Capital Group Drive Plastic Waste Awareness in Oyingbo Market

Nume Ekeghe

In commemoration of World Environment Day 2025, STL Capital Group, in collaboration with the Lagos Waste Management Authority (LAWMA), led a public sensitisation campaign in Oyingbo Market, Lagos, focusing on the dangers of plastic pollution and the importance of recycling.

The Initiative, themed, “Recycle and Revive,” drew the attention of market leaders, traders, passersby and environmental officials. The exercise was designed to raise awareness about the environmental and health hazards of indiscriminate plastic disposal, in line with this year’s global theme: “Beat Plastic Pollution.”

Speaking at the event, Managing Director of STL Asset Management, Ahmed Banu, stated that the campaign reflects the Group’s commitment to sustainability and its broader corporate social responsibility.

“This was about finding meaningful ways to give back,”

he said. “We asked ourselves how we could contribute to a cleaner environment while promoting awareness. The World Environment Day gave us the perfect opportunity to align with a cause that affects us all.”

On his part, the Executive Director of STL Trustees, Akin Oni, reinforced the message, citing the alarming levels of microplastics found in human systems due to poor waste management.

“We use plastics every day, and many don’t think twice before discarding them,” Oni said. “But the impact is far-reaching, from aquatic life to human health. Recycling helps reduce these risks and keeps our environment cleaner.”

He urged citizens to see environmental stewardship as a shared responsibility. “We owe it to the planet and future generations to leave behind a healthier environment. Education is key, and that’s why we’re here to help people understand how they can be part of the solution.”

Sanlam, Allianz Merge to Become SanlamAllianz Insurance Nigeria

One of Africa’s biggest non-banking financial services powerhouse, Sanlam and Allianz, one of the world’s well recognised global insurer, have announced a significant milestone in their Pan-African expansion strategy with the successful merger of their operations in Nigeria. The merger, now branded as SanlamAllianz Nigeria, was officially announced in Lagos. SanlamAllianz Nigeria is part of a broader initiative by both parent companies to create Africa’s leading non-banking financial services group in different markets. By leveraging Sanlam’s extensive continental footprint and achievements and Allianz’s global reputation and technical expertise, this new entity aims to offer enhanced customer experiences, innovative insurance solutions, and improved financial inclusion in Nigeria.

Speaking at a press briefing on the event day, MD/CEO SanlamAllianz Life Insurance Nigeria, Tunde Mimiko, said the event marked a transformative chapter for Sanlam and Allianz but, even more importantly, the Nigerian insurance industry.

According to him, Our joint venture, SanlamAllianz, is the fusion of complementary strengths, global expertise, rich underwriting heritage, and local insights designed to expand access to world-class insurance solutions for millions of Nigerians.”At a time when Africa’s economic evolution demands more than traditional products.

MD/CEO, SanlamAllianz General Insurance Nigeria, Yomi Onifade, said the emergence of SanlamAllianz Nigeria is timely and significant, especially as Nigeria has boldly announced its ambitions to achieve a $1 trillion economy. He said such an ambitious goal required the backing of a financially solid underwriter and exceptional risk management expertise.”We understand that building confidence in the market involves more than just offering insurance products; it requires strict adherence to governance, transparency, responsiveness, and excellence in service delivery.” He said at SanlamAllianz, the managers recognise the unique challenges that businesses and industries face and were well-positioned to provide tailored solutions that inspired trust and deliver real value.

Affordable, and Accessible,” the summit brought together actors across the agricultural value chain to explore practical pathways toward transforming Nigeria’s agriculture from a largely subsistence practice into a scalable and commercially viable enterprise.

Delivering the keynote address, Country Director at AGRA Nigeria, Dr. Rufus Idris, underscored the need for strategic,

system-wide planning powered by data intelligence. According to him, coordinated interventions backed by reliable data remain the bedrock of scaling agricultural enterprises in Nigeria.

On her part, Lagos State Commissioner for Agriculture and Food Systems, Abisola Olusanya, called for grassrootsdriven, market-facing policies that address the inefficiencies

that have historically hampered agricultural productivity and food distribution.

Chief Executive Officer of PricePally, Luther Lawoyin, used the forum to call attention to the need for narrative change around farming and food enterprise.

“It is hard to see the farmers who are the key people being brought to the spotlight and we thought we needed to correct that. It’s hard

to be a farmer in Nigeria and we want to change that narrative. A farmer should be prosperous while tilling the ground, and not be a slave,” he said.

Lawoyin also stressed the importance of data integration for improved decision-making, noting that transforming agriculture into a profitable venture will require a shift from fragmented operations to enterprise-level efficiency.

Stakeholders Agree on Criticality of Infrastructure

as Fundamental Element for Socio-economic Prosperity

Stakeholders and economic experts have unanimously agreed on the criticality of infrastructure development as a fundamental element for socio-economic prosperity. This summation was made at a KENNA Colloquium on infrastructure development held in Enugu with the theme: “Support Mechanisms for Infrastructure Development and Financing.”

The discourse highlighted the need for innovative financial models and collaborative frameworks to address the infrastructure deficits in the region in particular and the nation as a whole. The colloquium focused on how infrastructure initiatives can act as catalysts for broader societal advancement, identifying specific areas requiring substantial infrastructure development while offering unique solutions to the challenges.

The Deputy Governor of Enugu State, Ifeanyi Ossai, representing the Governor as Special Guest of Honour, emphasised the government’s commitment to creating an enabling environment for infrastructure investment and economic prosperity by focusing on the fundamentals of socio-economic growth.

According to Ossai, “While taxation is a source of raising funds for infrastructural projects, there is a limit to how much we can tax. Therefore, we are creating an enabling environment to encourage businesses to invest —not just in infrastructure development, but in different sectors—to create wealth for the entire state. It is for this reason that this administration is investing heavily in education and healthcare to reduce the exposure of families to fundamentals that drain their pockets, thereby leading to the growth of businesses and MSMEs.”

Senior Partner at KENNA, Professor Fabian Ajogwu, SAN, gave astute recommendations for supporting infrastructure development and financing. He touched on the strengthening and expansion of the legal and regulatory framework for infrastructure development in the State, stating that a robust framework will provide stability, transparency, and security for investors, boosting their confidence to invest in the State as a corollary.

He commented, “Enugu State should consider establishing a state-level infrastructure fund; a pooled, ring-fenced, and independently managed fund with clear governance structures.

The Fund, which could be named the Enugu State Infrastructure Fund, offers a more predictable financing mechanism than traditional borrowing and federal

allocations, while also granting the state more autonomy over how it utilises its funds. The State is also encouraged to expand financing to include Public-Private Partnerships (PPPs), state-issued infrastructure bonds, blended finance structures, and leverage green finance for sustainable projects.”

The Regional Manager of one of Nigeria’s top banks, Chiaka Mbagwu, highlighted some of the limitations faced by financial institutions in bankrolling large infrastructure projects. According to Mbagwu, “Financial institutions can only fund projects sustainably if they are sufficiently capitalised, particularly in light of the long-term nature of infrastructural projects. There is also the need for effective regulations and for professional bodies to conduct feasibility studies on projects while considering the risks associated with them.”

AXA Mansard Partners Lagos DSVA on Violence Against Girl Child

Ebere Nwoji

AXA Mansard, Insurance Nigeria, and the Lagos State Domestic and Sexual Violence Agency (DSVA), have announced a partnership to raise awareness and increase education about the menace of domestic violence , especially against the girl child in the country.

The partnership, coming on the backdrop of the 2025 AXA Week for Good, will feature a range of activities from both entities. The Lagos DSVA will be providing technical and expert support in leading employee training, public awareness and guiding the various school activations which

Ebere Nwoji

Heirs Insurance Group, has opened applications for the fourth edition of its annual Heirs Insurance Essay Championship, targeted at Junior Secondary School students nationwide.

This year’s edition features N10.5 million prizes for the winning students, teachers, and schools, reinforcing the group’s

will be carried out by employee volunteers of AXA Mansard.

Speaking after the partnership meeting at the office of the DSVA, Head of Marketing AXA Mansard Insurance, Olusesan Ogunyooye, said that they were impressed by the works and proactiveness of the DSVA and saw the year’s edition of the company’s annual volunteering and CSR initiative as a way to support and contribute to what the DSVA is doing.

“For us at AXA Mansard, our posture is that the future shouldn’t be at risk. And if we have to protect the future, then we must protect the children. So, building on our works

commitment to driving insurance awareness at an early stage.

Speaking on the competition, the Chief Marketing officer Heirs Insurance, Ifesinachi Okpagu, said the winning student would receive a N5 million scholarship along with a N1 million education grant for his school.

She also said the first and second runners-up would receive

against sexual and gender-based violence, we thought it fit to work with the DSVA during this edition of our annual global CSR week, AXA Week for Good”.

“We note the remarkable works that DSVA is doing in combating domestic and sexual violence in Lagos and see this partnership as an opportunity to let them know that their work is appreciated, but more importantly is working with them around this shared interest to rid our society of violence”.

Commenting on the partnership, the Executive Secretary, DSVA, Mrs. Titilola Vivour-Adeniyi, expressed her pleasure at the collaboration,

N2 million and N1 million scholarships, respectively.

She said in addition, insurance-focused themes and quizzes have been embedded into the application process for students, ensuring early engagement with the concept of insurance. According to Okpagu, to participate, students must submit original essays of not more than

describing it as a step towards the right direction in tackling domestic and sexual violence against girls in Lagos State. She noted that partnerships with the private sector, such as this, were critical in amplifying the zero tolerance stance of the Lagos State Government against all forms of Sexual and Gender Based Violence. She added that DSVA remains committed to providing expert guidance and resources to ensure that the initiatives under the AXA Week for Good created a meaningful impact and contribute to the broader goal of fostering a safer and more inclusive society for all.

500 words on the topic: “The Role of Insurance in Keeping Families Safe and Secure” via the website. According to her submissions are open from May 27 to July 8, 2025, adding that all entries would be evaluated by renowned academics, with a quality assurance process conducted by Deloitte & Touche to ensure transparency and fairness.

Nume Ekeghe

Ebere Nwoji

L-R: Life Insurance Executive, Distribution, SanlamAllianz, Gavin Downard; MD/CEO, SanlamAllianz Life Insurance Nigeria, Tunde Mimiko; MD/CEO, SanlamAllianz General Insurance Nigeria, Yomi Onifade; Regional Executive, East and Southern Africa (including Ghana and Nigeria), SanlamAllianz General Insurance, Amine El-Kernighi and Group Head, Strategy, Marketing and Customer Relations, SanlamAllianz Nigeria, Chris Ekwonwa, during the press launch of SanlamAllianz Nigeria in Lagos… recently

Court Orders Fidelity Bank to Pay over N162m in Retirement Benefits to Former Staff

Berates bank for using third-party entities to avoid labour obligations

Wale Igbintade

The National Industrial Court sitting in Lagos has ordered Fidelity Bank Plc to pay over N162 million in outstanding retirement benefits to a group of its former employees.

The court held that the bank unlawfully withheld the entitlements of long-serving staff who were engaged through a thirdparty employment arrangements.

The claimants, Ann Nwabulu, Chidinma Fred Oka, Doris AlfredOkhilua, Dayo Johnson-Olayemi, Julius Ubah, Obiageli Mbadiwe, Obasi Esobe, Sophia Milton, Yemisi Femifalade, Abiamuwe Sylvester, and Nnenna Ekwueme were represented by their lawyer, Chief Mike Ozekhome, SAN.

They sought “A declaration that the bank’s failure to pay their retirement benefits constituted a breach of their employment contracts and violated established labour laws and practices. A declaration that the bank’s attempt to retroactively apply a new retirement policy to deprive them of their entitlements was unlawful. An order directing immediate payment of various

sums owed to them.”

In a judgment delivered by Justice R.H. Gwandu, the court found that the claimants, including the 10th claimant who joined Fidelity Bank following its merger with FSB International Bank and Manny Bank, had sufficiently proven their employment and entitlement to the benefits claimed.

The court considered two key issues namely, “Whether it had jurisdiction to hear the 10th claimant’s case. Whether the claimants had established their entitlement to the retirement benefits and other reliefs.”

On jurisdiction, Justice Gwandu held that the court was competent to hear the 10th claimant’s case.

Although Fidelity Bank denied having a direct employment relationship with him, arguing that he was only seconded, the court found that he worked with FSB under Direct Resources Limited and continued with Fidelity Bank for 11 years post-merger until his retirement in 2016.

Evidence such as long service awards and letters of recognition issued by Fidelity Bank confirmed his status as a long-serving staff member.

The judge stated: “It would be inequitable and unjust to hold that no employment relationship existed. The defendant cannot use technicalities to avoid its obligations when the facts are clear and uncontroverted.”

Regarding the substantive claims, the court ruled in favour of the former employees, who were employed through Fidelity Union Securities, a third-party firm, but served Fidelity Bank directly.

Justice Gwandu criticised the practice of using thirdparty entities to avoid labour obligations, noting that the bank acknowledged the claimants’ years of service through letters and service certificates.

“The practice of using third-party companies to avoid liability under the guise of privity of contract is one this honourable court has consistently frowned upon,” the court stated.

It further rejected Fidelity Bank’s argument that the claimants lacked the 15 years of unbroken service required under its retirement policy.

Champion Breweries Reports Strong Financials, Unveils Growth Strategy

Okon Bassey in Uyo

Champion Breweries Plc has marked a transformative milestone in its 49-year history by announcing its first-ever dividend payment following a year of outstanding financial performance.

The announcement was made during the company’s 49th Annual General Meeting (AGM), held virtually with shareholders joining from Uyo and Lagos.

The Board Chairman, Pastor Imo-Abasi Jacob, described 2024 as a watershed year for the company and confirmed the board’s approval of a N15 billion capital raise via green bond.

He further announced plans to seek an additional capital raise through a public offer to support facility upgrades, asset expansion, and increased operational capacity.

“To further strengthen our

growth agenda,” Pastor Jacob stated that, “Champion Breweries Plc will launch a Green Bond Programme to finance renewable energy and modernization projects, alongside a Commercial Paper Programme to boost short-term liquidity. While others struggled, Champion Breweries Plc stood tall, We are now strategically positioned for even greater capital market engagement.”

The Managing Director/CEO, Dr. Inalegwu Adoga, attributed the historic achievement to disciplined execution, a resilient workforce, and unwavering stakeholder confidence.

Speaking on the company’s 2025 theme, “Elevate and Accelerate: Growing Champion Profitably, Productively, and Sustainably,” Dr. Adoga highlighted a breakthrough year.

Adoga emphasized the dividend payment as a defining moment, underscoring the

company’s turnaround and commitment to delivering long-term shareholder value.

He credited the company’s strategic clarity and operational discipline for laying the foundation for sustained growth.

He also reaffirmed Champion Breweries Plc’s commitment to local sourcing, affordability, and maintaining a debt-free balance sheet amid ongoing economic challenges.

Entering 2025 with strong momentum, Champion Breweries reported an exceptional first quarter. Profit before tax rose by 318% year-on-year, while Q1 revenue grew by 94% to ₦8.48 billion, with expenses tightly controlled. Adoga announced ambitious targets for the year, including plans to double revenue and quadruple profit after tax by year-end, supported by a clear growth roadmap and the near completion of its green energy transition.

Keystone Bank Wins Most Friendly SME Bank Award

Keystone Bank Limited’s outstanding contributions to the growth and sustainability of Nigeria’s Small and Medium Enterprises (SMEs) sector were once again recognised over the weekend, as the bank emerged as the Most Friendly SME Bank of the Year 2024 at the Champion Newspapers Annual Awards ceremony held in Lagos.

According to the organizers, the award recognizes Keystone Bank’s leadership in expanding access to funding and providing strategic support to Nigeria’s SME sector.

The award was presented to Nnenna Anyim-Okoro, Executive Director, South and Corporate Bank, Keystone Bank, by the Chairman of the Nigerians in Diaspora Commission (NiDCOM), Hon. Abike Dabiri-Erewa.

While presenting the award, Hon. Dabiri-Erewa commended Keystone Bank for its unwavering support and enduring commitment to the growth of Nigeria’s

SME ecosystem.

“The reward for hard work is more work. This award is a testament to the remarkable efforts Keystone Bank has made in empowering Nigeria’s small and medium-sized businesses. It shows that there is more work to be done, but this recognition affirms that the bank is on the right path,” she said. She further commended the bank’s leadership and staff for their sustained dedication to building a resilient and inclusive economic framework through SME development.

While accepting the award on behalf of the bank, Mrs Nnenna Anyim-Okoro expressed heartfelt gratitude to Champion Newspapers for the honor and reaffirmed the bank’s long-standing commitment to the SME sector.

According to her “We are truly honored to receive this award, which reinforces our mission to be a dependable partner in the growth journey of SMEs across

L–R:,

Executive Director, Corporate and South, Keystone Bank Limited, Mrs. Nnenna Anyim Okoro; Chairman, Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri-Erewa and Group Managing Director/Editor-inChief, Champion Newspapers, Dr. (Mrs.) Nwaduito Iheakanwa, at the Champion Newspapers Annual Awards held in Lagos…recently

Nigeria.

“At Keystone Bank, we understand that SMEs are not just a sector, they are the engine room of national development and a key driver of employment, innovation, and grassroots empowerment.

“This recognition is a reflection of the strategic investments we’ve made in creating bespoke financial products, enabling access to finance through digitized loan platforms, and delivering sector-specific capacity-building initiatives tailored to the needs of entrepreneurs.”

“We have rolled out several impactful programs targeted at unlocking the potential of SMEs in diverse industries. From retail and agriculture to tech and manufacturing, our goal is to support value creation, scalability, and resilience. We remain deeply committed to doing more because we recognize just how vital this sector is to the future of our nation.” she added.

Sider (Libya),

Stock Market Resume on Profit-taking Note, Drops by N377.9bn

Kayode Tokede

The Nigerian stock market resumed after the Sallah holiday on a downward trend, dropping by N377.9 billion on investors profit-taking in MTN Nigeria Communications Plc, and 24 others.

With the stock price of MTN Nigeria Communications dropping by 2.88 per cent to close at N310.00 per share, the market capitalisation depreciated by

N377.9billion to close at N71.898 trillion from N72.275 trillion it opened for trading this week. Consequently, the Nigerian Exchange Limited All-Share Index (NGX ASI) declined by 0.52 per cent or 599.27 basis points to close at 114,017.48 basis points or 114,616.75 basis points it closed for trading last week. Investor sentiment, as measured by market breadth closed positive as 35 stocks advanced, while 25 declined. Berger Paints Nigeria,

DAAR Communications and eTranzact International emerged the highest price gainer of 10 per cent each to close at N22.55, 66 kobo and N6.60, per share. Legend Internet followed with a gain of 9.93 per cent to close at N5.87, while Omatek Ventures up by 8.22 per cent to close at 79 kobo, per share. On the other side, R.T. Briscoe Nigeria led others on the losers’ chart with 10 per cent to close at N2.25, per share. John Holt followed with a decline of

9.87 per cent to close at N6.85, while Beta Glass shed 9.69 per cent to close at N210.10, per share. Aradel Holdings went down by 9.09 per cent to close at N500.00, while Deap Capital Management and Trust depreciated by 8.16 per cent to close at 90 kobo, per share. Meanwhile, the total volume of trade dipped by 55.4 per cent to 652.637 million units, valued at N18.875 billion, and exchanged in 23,978 deals. Transactions in the shares of Access Holdings

led the activity with 88.297 million shares worth N1.971 billion. Zenith Bank followed with account of 49.330 million shares valued at N2.519 billion, while Guaranty Trust Holding Company (GTCO) traded 47.250 million shares valued at N3.342 billion.

Fidelity Bank traded 42.925 million shares worth N844.839 million, while Wapic Insurance traded 34.998 million shares worth N70.562 million.

Looking forward, United Capital Plc said, “the equities market might be mildly positive leading to a slight gain in the ASI. This is hinged on the market benefiting from the spillover effect of excess liquidity in the financial system. Similarly, investors might start positioning for Q2-earning season in June, favoring corporates with FX gains, cost control, clear growth trajectory, and those with potentials for quality interim dividend payment.”

ASOF JUNE/10/25

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA:

Date: All fund prices are quoted in Naira as at 05 June-2025, unless otherwise stated. Offer

The

return

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

POLITY

Two Years of President Tinubu

By Olisa Agbakoba

President Bola Tinubu was elected on May 29, 2023. His first term in office will end on May 28, 2027. We are now at midterm. Many midterm performance assessments have been conducted, most based on economic factors: inflation rates, employment, exchange rate stability, GDP growth figures, poverty levels, and similar metrics. A midterm assessment is generally based on economic performance, but in the case of Nigeria, I am not sure this approach is appropriate, given the underlying structural problems. The country suffers from a flawed federal system where power is excessively centralized, creating inefficiencies and bottlenecks that economic policy cannot resolve.

Wrong diagnosis leads to wrong treatment that produces wrong results. Nigeria must confront its structural political deficit otherwise economic interventions will continue to yield suboptimal results, regardless of their technical soundness. I will therefore depart from assessing President Tinubu’s midterm based on economic factors alone. Let me explain.

Everyone knows that Nigeria operates a deeply flawed, over-centralized political system that cannot be characterised as a federal system. The result is 774 local government areas and 36 states (90% of Nigeria’s governance architecture) fully depend on the Federal Government. Local and state governments are primarily collection points for federal allocations rather than centres of productive governance. The result is that economic activity is artificially concentrated at the federal level while the natural drivers of bottom-up economic growth (local governments and states) remain dormant and excluded.

The administrative governance structure is a huge hindrance to economic development. The administrative system is not designed to enable optimal economic performance but rather to control and regulate economic policy by layers of bureaucratic interference. Private sector is stifled by lack of innovation and entrepreneurship. The bureaucracy is simply too unwieldy to deliver optimal results to drive investment and economic growth. More critically, this centralized economic planning excludes majority of Nigerians from economic participation. Over 200 million Nigerians are trapped in an informal sector that is unproductive and disconnected from formal economic opportunities. The political system allows the extraction of enormous economic value by rent-seekers and plutocrats who position themselves at the centralized chokepoints of resource allocation.

Economies grow from the bottom up, not top down. This fundamental principle explains why countries with robust local governance structures consistently outperform highly centralized systems. When local governments cannot effectively manage local resources, local challenges, and local opportunities, the entire economic ecosystem suffers. Consider the agricultural sector, which employs majority of our people. Agricultural productivity is inherently local—soil conditions, climate patterns, market access, and farming techniques vary significantly across Nigeria’s diverse geography. Yet agricultural policy is mostly formulated and implemented from Abuja, creating a one-size-fits-all approach to an inherently localized economic activity.

This centralized approach excludes smallholder farmers, local traders, and community-based enterprises from accessing credit, technology, and markets, trapping Nigeria’s largest economic sector in subsistence patterns while well-connected agribusiness interests capture the formal value chains. European economies offer instructive examples. Countries like Spain built significant portions of their economies around simple agricultural products—olive oil, grapes, and apples. The key difference lies not in the products themselves but in the governance structures that support their production and commercialization.

In Spain, regional governments have substantial autonomy over agricultural policy. Local governments manage rural development programmes, and municipalities coordinate directly with farming communities. This multilevel governance approach allows for responsive, adaptive policies that reflect local conditions whilst contributing to national economic objectives. Nigeria’s fixation on oil and gas reflects the centralized governance model where complex resources are managed from the centre. Meanwhile, simple crops that could drive broad-based economic growth—tomatoes, rice, yam, beans, cassava—remain underdeveloped precisely because the governance structures needed to support them are dysfunctional.

President Tinubu deserves credit for implementing long-overdue economic structural reforms. This is known as market correction. The removal of fuel subsidies and deregulation of the foreign exchange market were courageous

decisions that previous administrations avoided due to political costs. These reforms are economically sound and necessary for long-term stability. However, the critical question is not whether these reforms were correct—they were—but whether they can achieve their intended impact in the context of Nigeria’s governance structure. Economic reforms operate within political systems, and when those systems are fundamentally flawed, even the best economic policies produce suboptimal results.

Also, these federal-level reforms do not address the fundamental exclusion of majority of Nigerians from formal economic participation. Without complementary governance reforms that empower local institutions, these macroeconomic adjustments may worsen inequality by concentrating benefits among those already connected to formal economic networks. I believe the challenge with Tinubu’s economic reforms lies in their execution within a dysfunctional governance framework. Fuel subsidy removal was intended to free up resources for productive investment, but if state and local governments lack capacity and autonomy to deploy them effectively, reform benefits remain unrealized. Similarly, forex deregulation aimed to improve market efficiency will not happen if the regulatory environment remains centralized and unresponsive to local business conditions. Efficiency gains cannot translate into broad-based economicNigeria’sgrowth.development challenge resembles building a 20-storey edifice on a cracked foundation. No matter how impressive the superstructure—federal economic policies, national development plans—the underlying cracked foundation will limit what can be achieved. When local governments are not allowed to register births and deaths, and also not allowed to manage basic education, water, sanitation, health, when municipalities cannot issue driving licenses, the entire system operates below capacity. Local governments are the building blocks of economic development because they create the institutional environment within which businesses operate. Nigeria is in a capacity trap. The federal government is overburdened with responsibilities

tier has meaningful autonomy and responsibility. Genuine multilevel governance is not merely a political preference—it is an economic necessity. Countries that achieve sustained high growth rates do so by mobilizing economic activity across multiple levels of governance. When only the federal level is truly functional, economic growth is artificially constrained by the capacity limitations of that single level.

More important, functional multilevel governance creates multiple entry points for economic participation, allowing entrepreneurs to access services and build businesses through local institutions rather than navigating federal bureaucracies in Abuja. Implementing genuine multilevel governance will require constitutional amendment, but beyond constitutional amendment there are certain executive actions and administrative restructuring the President can undertake to redirect the country.

The President can immediately transfer specific functions to state and local governments through executive orders. Issues like driver’s license, agriculture, microfinance banks, labor regulation, including minimum wage prescriptions, business incorporation, state taxes, trade within states, etc can be devolved administratively. The National Assembly can utilize Sections 4(1) and 315(1)(a) & (4) of the Constitution to replace the 1999 Constitution and prioritize devolution of powers and fiscal federalism. I recommend that the National Assembly create a new legislative list for Federal, State, and Local Government. Local Governments should have clearly defined legislative powers within the constitution. Powers relating to infrastructure such as road construction and maintenance, street lighting, and waste management should be clearly assigned, along with primary healthcare, education, social welfare, business licensing, market regulation, tax collection (community tax, tenement rates), voter registration, conduct of local elections, and management of public facilities like cemeteries to local governments. Currently, State governments have largely usurped these functions and crippled the 774 local governments that are supposed to be a source of energy and economic activity. The same should apply to states.

it cannot effectively manage. Subnational governments are underpowered to handle functions they are best positioned to execute. This misalignment creates inefficiency at every level. Federal ministries attempt to manage local issues from Abuja, creating bureaucratic delays and contextual mismatches. Meanwhile, local governments with intimate knowledge of community needs, lack resources and authority to address them. The result is governance that satisfies no one and develops nothing.

This administrative dysfunction manifests as excessive bureaucratic interference in private sector operations. Businesses face multiple layers of approvals, permits, and regulatory compliance that are designed more for control than facilitation. The unwieldy bureaucratic machinery creates bottlenecks that slow economic activity and discourage investment, while the distance between decision-makers and implementers ensures that even well-intentioned policies are poorly executed. Without functional local institutions to provide basic services, regulate markets, enforce contracts, and facilitate access to credit and technology, informal enterprises remain trapped in survival mode rather than growing into productive businesses.

Achieving Nigeria’s ambitious target of becoming a one trillion-dollar economy requires growth rates of 7-8% sustained. Such growth rates are impossible within the current governance structure because economic energy across all levels of society cannot be unleashed. A revolution in political governance will admit a rush of new economic actors currently trapped, useless and unproductive in the informal sector. When local governments can effectively support local businesses, when communities can organize their own development initiatives, and when state governments can create enabling environments for regional economic clusters, Nigeria will witness an explosion of entrepreneurial energy that has been suppressed for decades.

The solution requires restructuring, rebalancing, or devolution. Regardless of terminology, the imperative is clear: Nigeria must transition from its current unitary system disguised as federalism to genuine multilevel governance where each

Functions of state governments should be clearly set out by the constitution, as they are being usurped by the federal government. For example, is the Supreme Court suited to adjudicate chieftaincy, inheritance, and land matters from states? Should the Federal Government hold onto policing powers with one Inspector General of Police in Abuja overseeing policing of 200 million people? Should Federal Government control airports in the country, even when built byThestates?National Assembly must pass legislation that empowers subnational governments to take on more economic policy while providing the legal framework for intergovernmental cooperation. Revenue allocation formulae can be adjusted to match resources with responsibilities. Federal ministries can be restructured to focus on policy formulation and standard-setting rather than direct implementation. This would free up resources and expertise to support subnational governments whilst reducing the federal government’s operational burden.

Most important, restructuring would transform the administrative governance approach from one of interference and control to one of facilitation and support. Rather than bureaucratic agencies, acting as gatekeepers that slow down economic activity, they should be enablers that help businesses navigate regulatory requirements efficiently. Proper political governance would create multiple centres of economic growth across Nigeria rather than concentrating activity in Abuja and a few commercial centres, unleashing the economic potential of over 200 million Nigerians currently marginalized in the informal sector and replacing rent-seeking extraction with broad-based economicPresidentparticipation.

Tinubu’s administration stands at a crossroads. The President must do a U-Turn and embrace fundamental governance restructure. Without functional political governance at all levels, economic interventions will continue to produce disappointing results regardless of their technical merit. Nigeria’s challenge is not economic—it is political. The system of centralized economic planning has created a dual economy where a small elite captures enormous value through rent-seeking while over 200 million Nigerians remain trapped in unproductive informality. A new scheme of political governance that recognizes that politics and economics is local will unleash a volcano of tremendous energy that will be unstoppable by anyone, to the ultimate benefit of economic development. The wrong diagnosis has led to wrong results for too long. It is time for the right diagnosis and the right treatment: political governance reform is the foundation for sustainable economic transformation.

•Agbakoba, SAN, is a former president of the Nigerian Bar Association (NBA)

President BolaTinubu

ProPerty & environment

Homebase Mortgage Bank Secures Initial N3.5bn MREIF On-lending Facility for Affordable Housing Access in Nigeria

Bennett Oghifo

Homebase Mortgage Bank, one of Nigeria’s foremost providers of mortgage and housing finance solutions, has secured initial ₦3.5 billion in funding from the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF). MREIF is a collaborative initiative driven by the Federal Government through the Ministry of Finance Incorporated (MOFI), and some

private sector investors, with ARM Investment Managers (ARM) as the Fund Managers. This is in line with the Renewed Hope scheme of the Federal Government of Nigeria.

Homebase Mortgage Bank is positioned as a top-tier and capable partner in the government’s housing delivery efforts, leveraging its proven expertise, strong operational systems, and customer-centric approach to

scale housing finance for the underserved populations.

As a mortgage bank entrusted with this strategic investment, “We are honored to be selected as a recipient of this significant MREIF funding,” said Arinze Adigwe, Managing Director at Homebase Mortgage Bank. “This recognition underscores the government’s confidence in our competence and commitment to housing access. More importantly, it

empowers us to extend even more affordable mortgages to everyday Nigerians.”

Deploying the Fund: Strategic Focus Areas

Homebase Mortgage Bank will deploy the MREIF funding to create mortgage loans and boost homeownership by offering affordable and flexible mortgage packages to low- and middle-income Nigerians. Through this initiative, eligible

homebuyers can access home loans at 12% per anum interest rates, with repayment terms of up to 20 years. Additionally, by combining MREIF with the Family Homes Funds, homebuyers may qualify for even lower, single-digit interest rates, potentially below 10%. With an equity contribution or down payment of just 20%, individuals can access mortgage loans of up to ₦100 million.

Homebase will expand mortgage reach in Nigeria through its impact across the housing value chain, with a focus on: Digitizing mortgage application processes for greater speed, transparency, and inclusion; Launching homeownership advisory programs and financial literacy clinics to guide first-time buyers; and Hosting community housing forums across key cities to raise awareness about eligibility and access.

Palton Morgan Presents Paramount Twin Towers in Lagos

estate market, has presented its latest rendition, known as Paramount Twin Towers (PTT).

The building, which is in the heart of Lagos metropolis, is an

opportunity for home buyers and investors alike to experience 5-star living at its best.

The PTT, described as Lagos’ new standard for luxury living, is being developed by Grenadines Homes, a subsidiary of the Palton Morgan Group. It is a new collection of premium 2-bedroom apartments that are typically larger than the regular 2-bedroom units and come with two living rooms and two terraces.

The twin towers offer residents a true 5-star living experience, which aligns seamlessly with the theme for its campaign — ‘Experience 5-Star Living by the Ocean’— which the developer has achieved by providing the kind of luxury experiences people get when they stay in premium hotels all over the world.

PTT combines elegance, comfort, and convenience in one of Nigeria’s most coveted coastal locations. It is located in Oniru, Victoria Island, Lagos which is an oceanfront destination, offering exceptional flexibility arising from its proximity to landmark developments.

It benefits from Eko Atlantic City and more from the LagosCalabar coastal road the first section of which was commissioned recently by Nigeria’s president, Bola Tinubu.

Whereas Eko Atlantic is a modern city arising on the shoreline of the Atlantic Ocean with its own soul, the coastal highway is Nigeria’s most ambitious superhighway infrastructure that is set to promote life and living, economy and commerce within its immediate neighbour-

hood.

PTT, which was introduced into the luxury real estate market recently, comes with upscale features and amenities that exemplify Palton Morgan’s tradition of fusing advanced architecture with aesthetics for elevated luxury living.

These include valet parking, concierge services, high-end restaurants, 24/7 security, amole parking space on 3 floors, kids play area, infinity pools, and many more. Every unit of this development is designed to provide seamless functionality and comfort.

The open-plan lounges, modern kitchens, service areas, and carefully positioned windows flood each room with natural light that offers breath-taking views of the Atlantic Ocean,

CEOs Discuss Succession Planning, Wills, Probate

Fadekemi Ajakaiye

Saturday, May 17th, 2025, marked a transformative gathering of CEOs, industry leaders, and visionaries at the Nigerian-British Chamber of Commerce, Lekki, for the May edition of the highly anticipated CEO’s Forum. Themed “From Ownership to Legacy: Passing the Baton.”

The event was convened and hosted by ESV. Adetoun Otepola, Managing Director of Solid Foundation Group, and served as a platform to rethink wealth beyond acquisition and explore the systems needed to preserve it.

The Forum brought together distinguished guest speakers who are at the forefront of their respective industries: Mr Dayo Olaiya, CEO of Dayola Property and Development Company; Ms Folasade Olusanya, Managing Partner of Jackson Etti &

Edu; Mrs Akachi Comfort, Regional Executive (West) of AG Mortgage Bank Plc; and Mr Tobi Osonuga, MD of Chateau Royal Real Estate Limited.

One of the key sessions was led by Folasade Olusanya, who delivered an insightful presentation on succession planning, wills, and probate. She asked hard-hitting questions like, “What happens if you don’t wake up tomorrow?” challenging CEOs to confront the reality of legacy and take decisive steps to protect what they’ve built. She broke down common misconceptions around succession, explained the differences between wills and trusts, and addressed emotional and cultural blocks that often delay estate planning.

Her session was a wake-up call for business owners to stop postponing the inevitable and start designing a future where their assets live on with

purpose.

In another highlight of the Forum, Akachi Comfort, Regional Executive (West) of AG Mortgage Bank Plc, introduced the MREIF Mortgage Loan, a flexible and accessible financing solution created to make homeownership possible for professionals and entrepreneurs alike. She explained how eligible applicants can access up to ₦200 million, enjoy a 20-year flexible repayment tenor, and benefit from one of the lowest interest rates in the market, just 12% per annum. She also highlighted the newly formed strategic alliance between Solid Foundation Group and AG Mortgage Bank Plc, designed to further cement the commitment to accessible and affordable real estate for aspiring homeowners and investors across Nigeria.

Mr Tobi Osonuga, in his session urged attendees to take control of their financial

futures with his statement, “You can sack your landlord.” He stressed the need for property ownership as a means of breaking free from recurring rent payments and shared

investment opportunities. He introduced two standout projects, HalleyVine Residence (a serene collection of loft apartments and duplexes off Monastery Road), and Citi Mall

just 200 meters away. At the unveiling of this iconic development recently, Adeola Salami, an Executive Director, Commercial, at Palton Morgan, stressed the company’s commitment to credibility, structural integrity, and long-term value.

“We are building not just homes, but lifestyle defined by security, sophistication, and enduring investment appeal,” she said.

On her part, Folake Johnson, Head of Brand and Marketing, noted that, “luxury today is more than just architecture; it is about experience and exclusivity. Paramount Twin Towers sets a new benchmark for 5-star living in Lagos, providing top executives and high net-worth individuals (HNIs) with a seamless blend of home comfort and world-class hospitality.”

(a premium commercial development along the Lekki-Epe corridor). Both offer investors a mix of style, function, and return on investment, complete with flexible payment options.

Real Estate in 2025 Dynamic Mix of Opportunities, Challenges, Says Ubosi Eleh Report

Bennett Oghifo

The Nigeria Real Estate Report 2025 has described the Nigerian Real Estate market in 2025 as “a dynamic mix of opportunities and challenges”. The influential annual publication by a leading estate surveying and valuation firm, Ubosi Eleh and Company, is now in its 9th edition. The Report summed up 2024 as “a year of economic recalibration”, noting that while households and businesses struggled under microeconomic

realities, the real estate sector found itself at a crossroads. The Report maintained that “2024 marked a transformative period in Nigeria’s political economy as President Bola Ahmed Tinubu embarked on bold reforms to tackle deep seated structural challenges.” It described the year as one “defined by resilience, adaptation and the pursuit of opportunities and daunting challenges.” According to it, whilst the cost of borrowing stifled capital formation and deterred

investments,the real estate market bore the brunt of falling purchasing power and rising construction costs”. In particular, the Report pointed out that building materials which are largely imported became more expensive due to exchange rate volatility whilst the market long term potential remained visible, driven by robust demographic trends, rapid urbanisation and the country’s enduring housing deficit. The Report states that the challenges of rising costs and dampened purchasing

power were counterbalanced by opportunities inherent in the country’s growing population and urbanisation trends. The residential segment, according to the Report remained the cornerstone of Nigeria’s real estate market,with demand primarily driven by urbanisation and the growth of the middle class.

Despite the huge challenges, the Report is positive in its outlook for 2025 now in the fifth month. According to the Report, Warehousing continues to thrive, driven by

logistics whilst residential real estate is adapting to shifting demographics. The projection is predicated on the continued and increasing Internet penetrative and growth of e-commerce.

Similarly, commercial spaces are evolving in response to changing work patterns and the retail sector is adjusting to new consumer behaviours.

The Report is of the view that with strategic planning,investors could navigate these shifts for sustainable profitability.

On Nigeria’s hospitality sector, the Report observed that it was

experiencing a strong growth, marked by a surge in luxury accommodations,an expanding mid-tier and budget segment and innovative serviced apartment offerings. It believes the entry of international hotel chains, coupled with domestic tourism and business travel, creates substantial opportunities for investors and operators.

The strategic diversification of accommodation types and the integration of technology are two factors would drive long term growth and transformation in the industry.

Paramount Twin Towers

L-R: MD Chateau Royal, Mr Tobi Osonuga; Managing Partner, Jackson, Etti, Edu and Partners, Ms Folashade Olusanya; MD Solid Foundation Group, Adetoun Otepola; Rev Temitope Dada of CAC church; and Regional Executive AG HOMES Mortgage Bank, Mrs Comfort Akachi, during a one-day CEO’s Forum held at the NigerianBritish Chamber of Commerce, Lagos… recently

Bennett Oghifo

Palton Morgan, a leading investor and developer operating mostly at the luxury end of the real

Images of dignitaries at the inauguration of the newly rehabilitated Abuja International Conference Centre by President Bola Ahmed Tinubu, yesterday, which has now been renamed the Bola Ahmed Tinubu International Conference Centre….

R–L: Minister of state for FCT, Dr. Mariya Mahmoud; President Bola Ahmed Tinubu; Minister of FCT, Nyesom Wike; Senate President, Godswill Akpabio; Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila; and Deputy Senate President, Ibrahim Barau Jibrin, at the inauguration of the newly rehabilitated International Conference Centre (now Bola Ahmed Tinubu International Conference Centre), Abuja, on Tuesday

R–L: Former Governors of Ekiti, Benue, Enugu and Abia States — Ayo Fayose, Samuel Ortom, Ifeanyi Ugwuanyi and Okezie Ikpeazu, respectively

The front view of the Bola Ahmed Tinubu International Conference Centre

R–L: Senate President, Godswill Akpabio; President Bola Tinubu; Nyesom Wike; and Deputy Senate President, Ibrahim Barau Jibrin, taking a tour of the newly rehabilitated International Conference Centre

President Bola Tinubu, Nyesom Wike, Dr. Mariya Mahmoud and others inspecting the newly rehabilitated International Conference Centre, Abuja, after the inauguration on Tuesday

FCT Minister, Nyesom Wike, with Minister of Finance, Olawale Edun

FCT Minister, Nyesom Wike greeting traditional rulers that graced the occasion

Photos from the inauguration of the newly rehabilitated International Conference Centre (now Bola Ahmed Tinubu International Conference Centre), Abuja, yesterday

RENAISSANCE TEAM WORKING VISIT TO THE MINISTER OF ENVIRONMENT...

First Lady to Nigerians: Let’s Unite, Fight Prevalence of HIV/AIDS, Other Preventable Diseases

Flags off free to shine campaign in Enugu Says she loves Enugu State, bags Ugosinamba chieftaincy title

Wife of the president, Senator Oluremi Tinubu, says future generations of Nigerians need to be shielded and guided properly against preventable and treatable diseases.

Speaking on Tuesday in Enugu at the final flag-off of the Free-to-Shine Triple Elimination campaign against HIV/AIDS, Syphilis and Hepatitis among women of reproductive age and the elimination of mother to child transmission in Enugu, the first lady stressed, “The ongoing challenges faced by the children emphasise the urgent need for sustained action to improve prevention strategies, enhance diagnosis, and expand access to treatment.”

According to her, “The Free-to-Shine campaign seeks to significantly reduce new HIV infections among women of reproductive age, prevent mother-to-child transmission (vertical transmission) and ensure that every child born with HIV receives the necessary treatment and support to thrive.

“It is heart-breaking to know that just two years ago, 15,000 children aged 0-14 lost their lives to AIDS-related illnesses. Each of these children was not just a statistic, but represented a future full of potential that was sadly cut short.”

In another development, Mrs. Tinubu was conferred with the chieftaincy title of “Ugosinamba 1 Enugu” (Jewel/Eagle from another kingdom) by an appreciative Enugu

An elated Mrs. Tinubu, who described Enugu as a peaceful state, received the title on Tuesday during her two-day working visit to the South-east state.

Conferring the title, alongside other officers, patrons, and members of the council, Chairman of Enugu State Traditional Rulers Council, HRM Igwe Ikechukwu Asadu, said the honour was in recognition of her love for Enugu State and service to the nation and humanity.

Asadu said, “Our First Lady served in the senate for three consecutive terms and was honoured with the Commander of the Order of the Niger (CON). Nobody could say you were silent at the parliament.

“The good news is the humanitarian part of you. We looked at the way you love Enugu State. We are thanking you for what you do for the midwives, for the nurses. Personally, I am a nurse, too. I appreciate it when it comes to the less privileged, healing the sick, clothing the naked, feeding the hungry.

“So, we are here to recognise and appreciate all these good works you are doing. It’s only God that can pay you for your good work.”

Meanwhile, at the final flag-off of the Free to Shine Triple Elimination campaign against HIV/AIDS, Syphilis and Hepatitis, Mrs. Tinubu directed her speech to the youth and students who turned out in large numbers at the event. She urged them to shun practices that could heighten their vulnerability to those diseases, adding

that they should not shy away from getting tested as often as possible.

She said, “HIV/AIDS is no longer a death sentence. You can access treatment easily. Please, let us shun stigmatising those that have the disease.

“To our dear children and youth, this campaign cannot succeed without your involvement. You represent our future generation; however, your age group is one of the most vulnerable. Please, take care and protect yourselves.”

In his remarks, Enugu State Governor, Dr Peter Mbah, pointed out that the Free-to-Shine campaign

was a bold and urgent push, which was not just a medical goal but also a moral one.

Mbah assured, “We will lend our full support to Her Excellency on this campaign. This initiative is what inclusion looks like; this is what progress looks like.”

Speaking earlier, Minister of State for Health and Social Welfare, Dr. Iziaq Salako, stated that with the launch of the Free to Shine Triple Elimination Campaign, there had been an increase in the number of people who turned up for testing and treatment for the diseases.

He said the advocacy being

championed by Mrs. Tinubu was a pointer to the commitment and dedication of not only her but also the federal government to the health and well-being of Nigerians.

There were also testimonies from people living with HIV/AIDS and how they pulled through with the love and support from their families. They also spoke about the dangers of stigmatisation, which they described as the real killer and not the disease.

To complement the Free-to-Shine campaign, a campaign by the Organisation of African First Ladies for Development (OAFLAD), the first lady decided to advocate for the Triple

Elimination of HIV/AIDS, Syphilis and Hepatitis by 2030. Since the maiden launch of the campaign in January 2025, five geopolitical zones have been covered, namely, North-central, North-east, North-west, South-south, and the South-west. The sixth and final geo-political zone, which is South-east, was done on Tuesday to complete the Free-to-Shine campaign.

Mrs. Tinubu also thanked the governor and his wife, Mrs. Nkechinyere Mbah, and the people Enugu State for the warm reception accorded her and her entourage during her two-day working visit.

Vocal APC Stalwart, Jesutega Onokpasa, is Dead

Mr Jesutega Onokpasa, a vocal chieftain of the All Progressives Congress (APC) and member of the party’s presidential campaign council in 2023, is dead.

A lawyer and political commentator, Onokpasa was a staunch supporter of President Bola Tinubu, until in recent times when he began to backpedal due to what he described as the negative impacts of the reforms by the administration. He also criticised the President for short-changing those who worked for his election in the

NAF Condoles Family, Probes Death of Detained Personnel, Corporal Wulumba

Linus Aleke in Abuja

The Nigerian Air Force (NAF) has commenced investigation into the death of its personnel, Corporal Wulumba A. S., who died in detention in Bauchi and also commiserated with the family over the avoidable death.

The Nigerian Air Force Command in Bauchi State had ordered the detention of Corporal Wulumba A. S. for arriving late to duty.

A trending report on his unfortunate death revealed his late arrival to work was due to an undisclosed illness.

Corporal Wulumba, a member of the 2003 regular intake attached to the elite Special Operations Command (SOC) in Bauchi, allegedly died while being held in the guardroom on the orders of his commanding officer, a Group Captain.

Confirming the development to THISDAY in a telephone chat, the Director of Public Relations and Information, Headquarters, Nigerian Air Force, Air Commodore Ehimen Ejodame, said: “The Nigerian Air Force (NAF) deeply regrets to confirm the unfortunate passing of Corporal Wulumba A. S. We extend our heartfelt condolences to his family, friends, and colleagues during this difficult time.

“The loss of any of our personnel is profoundly felt across the Service. In line with standard procedure, a Board of Inquiry has been convened to ascertain the circumstances surrounding his death.”

Promising further information will be provided as soon as the investigation progresses, the Spokesperson stressed that NAF remains committed

to the welfare of its personnel and upholds the highest standards of accountability and transparency.

Earlier, the traumatised sister of the deceased, Numdarai Joy Wulumba, revealed her brother had reached out to her on 4 May 2025 to inform her of his detention.

She explained he had reported late to his duty post after suffering health complications, but despite explaining his condition, the Commander allegedly ignored his plea and ordered his detention.

According to her, “My late brother called me that day to say he was being sent to the guardroom. He said his offence was arriving late due to illness, but his commander wouldn’t listen. After that call, we never heard from him again - until we were told on Friday that he was dead.”

2023 poll by appointing outsiders to key positions in government, while ignoring some of his die-hard supporters.

The Advocates for Good Governance and Humanity, a group to which Onokpasa belonged, described his passing as “a profound loss to Nigeria’s political and legal landscape”.

In a tribute signed by Zainab Ibrahim, Director General of the group, the organisation described Onokpasa as a passionate advocate

whose contributions shaped national discourse and inspired many to take part in Nigeria’s democratic process.

“As a dedicated lawyer and political commentator, he was deeply engaged in shaping discourse and advocating for his beliefs. His contributions as a member of the APC Publicity Committee and the APC Presidential Campaign Council in 2023 reflected his commitment to his party and the nation,” the group said.

In an interview on Arise Television recently, Onokpasa warned that Tinubu may end up being a “one-term president” if he does not improve on his performance. Asked if he would leave the party, he said: “I will not. Does the president own the party? We all formed the party. I won’t support him if the president continues on this trajectory of disrespecting party members, treating us as beggars. Don’t disrespect us. We are citizens and party members.”

Foundation Seeks FG’s Partnership on Creation of $500bn Fashion Economy

James Sowole in Abeokuta

An Abeokuta, Ogun State Sociocultural and Economic Group, Lai Labode Heritage Foundation, has proposed a collaborative project with the federal government for the creation of the Nigerian Fashion Federation.

The Federation, according to the proposal, will involve the 36 states in the country, and it would include the signing of a charter by representatives of each state.

The founder and Chief Executive Officer of the foundation, Chief Lai Labode, disclosed the proposal, at a dinner hosted by the Lai Labode Heritage Foundation at the Ake Palace, Abeokuta, in honour of the Minister of Arts, Culture, Tourism and Creative Economy, Hannatu Musa-Musawa. Labode said: “The Federation will formalise Nigeria’s presence in the global fashion economy by

coordinating representatives from all 36 states and preparing for the historic signing of its national charter at Egbaliganza 2026, alongside the Confederation of African Fashion Charter.

“With representatives from all 36 states, the Federation will champion structure, policy, and global relevance for Nigerian fashion.

“Its charter will be officially signed at Egbaliganza 2026, alongside regional counterparts under the Confederation of African Fashion.

“When we sign this charter, we will place Nigeria at the centre of a projected $500 billion African fashion economy.”

The promoter, ‘Egbaliganza’ also disclosed that Egbaland would host a Fashion Olympics in 2026, which would bring about 50 countries in Africa to participate.

He lamented that Africa has only a 1.2 percent share of the

global fashion market of $30 billion, declaring the readiness of Egbaland to lead Africa to a $500 billion fashion economy.

“Egbaland has been the first in many things. We have decided to create new first for Egbaland and in a bid to do this, we established the Egba fashion celebration, tagged Egbaliganza and that was made possible by Alake of Egbaland, Oba Adedotun Gbadebo, who stood firmly with us against all odds.”

Responding to the request of the foundation, the Minister reiterated the readiness of the federal government to collaborate with all states of the federation to hit $100 billion target from Tourism and Creative Economy. In pursuance of this, the government had through a memo by the Federal Executive Council (FEC), approved that all cultural values and unique peculiarities of all the states of the federation should be

Deji Elumoye in Abuja

State Traditional Rulers Council.

Emmanuel Addeh in Abuja

L–R: Permanent Secretary, Ministry of Environment, Mahmud Adam Kambari; Chairman, Renaissance Africa Energy Company Ltd, Dr. Layi Fatona; Minister of Environment, Balarabe Abbas Lawal; Managing Director/Chief Executive Officer, Renaissance Energy, Mr. Tony Atta; and NPC, HYPREP, Prof. Nenibarini Zabbey, during the Renaissance team’s working visit to the Minister in his office in

Abuja… recently

Photo: ENOCK REUBEN

GRADUATION CEREMONY OF CLASS 2021 AT INTERNATIONAL TRADE IN NEPC...

L–R: Director, Corporate Services, Nigerian Export Promotion Council (NEPC), Mrs. Esther Ikpora; Executive Director/CEO, NEPC, Nonye Ayeni; and graduate, International Trade/Director, Product Development NEPC, Mrs. Evelyn Obidike, during the graduation ceremony for Class 2021 Level 4 Diploma in International Trade Programme, held at the NEPC Corporate Headquarters in Abuja… recently

APC Insists Fubara’s Sins Won’t Be

Forgiven Even if He Joins Ruling Party

Governor yet to make any reconciliatory efforts

The ruling All Progressives Congress (APC) said suspended governor of Rivers State, Siminalayi Fubara, had yet to make any moves to mend fences with the state legislature.

APC said even though Fubara joined the ruling party, from his

Peoples Democratic Party (PDP), he would not be forgiven for desecrating democratic structures in the state.

Chairman of Rivers State chapter of APC, Tony Okocha, made the assertions on Tuesday in Abuja, while addressing a press conference, dropping a hint that Fubara may not return to the governorship seat.

On March 18, President Bola Tinubu declared a state of emergency in Rivers State following a protracted political crisis between Fubara and his then political godfather, Minister of the Federal Capital Territory (FCT), Nyesom Wike.

Following the declaration of a state of emergency, the president suspended

Fubara and the members of the state House of Assembly and appointed retired Vice Admiral Ibok-Ete Ekwe Ibas as sole administrator for an initial period of six months. However, Okocha, while addressing the press conference, maintained that Fubara was yet to initiate any meaningful steps to reconcile with the

duly elected lawmakers in the state.

He stated Fubara’s suspension and the declaration of a state of emergency in Rivers State had nothing to do with politics. According to Okocha, “It was about his misdemeanour and he said that the president saved his job by declaring the state of emergency.

Alleged Investment Fraud: Court Denies Afriq System’s CEO Bail

Orders remand in Kuje correctional center till end of trial

Justice Obiora Egwuatu of a Federal High Court in Abuja, on Tuesday, refused to admit to bail the Chief Executive Officer (CEO) of Afriq Arbitrage System (AAS) Limited, Mr. Jesam Michael, who is standing trial on an alleged investment fraud running into hundreds of million naira.

The judge took the decision based on the weight of the allegations against the defendant as well as the defendant’s safety.

While turning down the bail application, Justice Egwuatu subsequently ordered that he be remanded in the Kuje Correctional Center, pending the determination of trial.

Michael was arraigned by the Economic and Financial Crimes Commission (EFCC), on a seven-count charge bordering on money laundering, advance fee fraud, among others, to the tune of $844,416.36, N590 million and another $10,000.

He was arraigned alongside his company, a cryptocurrency trading platform.

The EFCC alleged that Michael and his company, between September 2022 and June 2023 in Abuja, while not being a bank or an authorised entity to take deposits, invited the public through advertisements to deposit funds with Afriq Arbitrage System Limited.

This, according to the commission, contravened Section 44(1) of the Banks and Other Financial Institutions Act, 2020, and is punishable under the same Act.

He pleaded not guilty to all the counts following which his lawyer, Mr. Uchenna Njoku, SAN, informed the court of his client’s application for bail dated May 4 but filed May 6, adding that his bail request was in line with the Administration of Criminal Justice Act (ACJA), 2015.

While praying the judge to exercise his discretional power and grant Michael bail on liberal terms, Njoku stated that before now, the

defendant had no criminal record and that the EFCC had granted Michael administrative bail.

He maintained the issue was associated with a former staff of Michael who allegedly accessed the company’s “wallet” and moved investors’ funds, adding that the case is pending before another court.

Responding, EFCC’s lawyer Martha Babatunde urged the court to refuse the application adding that though the EFCC had granted Michael an administrative bail before, he was unable to meet the terms.

She contended there were over 50,000 investors affected in the scam and that the EFCC was still receiving petitions against Michael.

The anti-graft agency also informed the court that the 1st defendant was arrested while attempting to leave the country and is unlikely to return to face trial due to the gravity of the charges and the weight of evidence.

Delivering ruling in the bail application, Justice Egwuatu, who

LP Senator Imasuen Plans Defection to APC

The Senator representing Edo South Senatorial District in the national assembly, Senator Neda Imasuen, has announced plans to defect from the Labour Party (LP) to the ruling All Progressives Congress (APC) on 12 June, citing disarray within his current party.

In a statement in Benin City to mark his second year as Senator, Imasuen, Chairman of the Senate Committee on Ethics, Privileges and Public Petitions, said the move is aimed at better aligning Edo South with development priorities at the federal level development under President Tinubu’s Renewed Hope

Imasuen who defended his defection as a strategic decision, not opportunism, also outlined his legislative and community achievements which includes the Federal College of Education, Abudu (Establishment) Bill, and resolution of over 20 public petitions.

He also highlighted vocational training schemes, agricultural support programmes, and a rural initiative training of traditional birth attendants, adding that scholarships have also been awarded to students in the district.

Noting challenges in sustaining constituency projects, Imasuen called

for stronger local government cooperation, the Senator pledged continued focus on health, youth empowerment, rural development, and voiced firm support for President Tinubu’s policies.

As Chairman, Senate Committee on Ethics and Public Petitions, he disclosed that over 20 public petitions from across the country have been successfully resolved under his leadership.

“These interventions have made a significant difference in the lives of ordinary Nigerians,” he said.

He further underscored his efforts in promoting agriculture, a sector he described as the cornerstone of national survival.

observed that a defendant is entitled to bail in line with constitutional provisions, held that it is in the best interest of Nigeria and the affected investors “to refuse the defendant bail” due to the gravity of the offence and weight of evidence against him.

Besides, the judge observed that the over 50,000 investors in Michael’s failed investment scheme, according to the EFCC, were aggrieved and as such it would be in his own safety to remain in government custody pending the conclusion of the trial.

He therefore ordered accelerated hearing of the case and directed that Michael be transferred from the EFCC custody to Kuje Correctional Center pending the conclusion of his trial.

The judge who held that investment fraud is now rampant in Nigeria, adjourned the matter until June 20 for trial.

The EFCC had in the charge marked: FHC/ABJ/CR/134/2025, accused Michael and his company of engaging in the specialised business of financial services, including investment management, without a valid license.

The defendants were alleged to have between October and December 2024 in Abuja, “converted the cumulative sum of N590 million being part of the funds generated from the sale of properties recovered from Oluwasesan Abayomi, knowing that the funds constituted proceeds of unlawful activity.”

Don’t forget that the Supreme Court in its judgement had said that there was no government in Rivers State.

“So, if there was no government in Rivers State, something must be done and that which happened was the declaration of the state of emergency.” Okocha added that even if Fubara decided to join APC, “His sins cannot be forgiven because he came to our party. It is not true. He has not spoken to me. He will enter the party through the door, not the window. Not only him, there are procedures for defection to another party and if claims to be a politician, he will know that all politics is local, he will try and defect in his ward.

“From there it will come to us and my ward chairmen I have asked, nobody brought any information about him entering APC.”

Asked if he was worried about Fubara’s meeting with the president, Okocha stated, “How can I be worried that somebody visited my president. Don’t forget it is also the season for Sallah.

“Yesterday, I read somewhere that former Governor Osoba paid Sallah homage and I don’t know whether you saw the president in the company of Chief Nyesom Wike. So, we can’t be worried, we can’t gag the president to say you will see Mr. A, you will not see Mr. B. Perhaps, if I had made an application to see Mr, President, I would have been there with my team.”

Group Advocates Tree Planting to Mitigate Effect of Climate Change

Blessing Ibunge in Port Harcourt

A group, Journalists For Sustainable Development Initiative, (JSDI), have trained students in Kaa Community in Khana Local Government Area of Rivers State on how to plant trees to mitigate the effect of climate change.

The group, a body of journalists committed to environmental advocacy, organised the training yesterday, in commemoration of the World Environment Day which was held on June 5, 2025.

The training which is also part of the annual tree planting awareness campaign of JSDI was done at the Government Secondary School Kaa and Community Primary School Kaa simultaneously.

Speaking at the event, Dr. Parry Benson, Executive Director of JSDI, highlighted the importance of plant-

ing trees as provision of shelter, food and prevention against environmental degradation and discouraged indigenes of the community against indiscriminate falling of trees.

Benson said training of the students was important in order for them to be climate ambassadors and to start early to know how to plant trees.

“We are in Community Secondary Kaa and Kaa is a coastal community in Khana Local Government Area of Rivers State and we have to let the people know that it’s time to build sea defense against climatic change, not only that but planting of trees as we do every year.

“We also trained young school children to be climate ambassadors. When you train up a child like the Bible says they will live to remember those things. We trained children to

plant trees because when a child plants a tree, he protects it and these are one of the things we have come to Kaa to do.

“We have trained the children and certified them as climate ambassadors and to discourage them from felling trees indiscriminately,” Benson stated.

Responding, Menebua Ka Babbe IV, HRH Benjamin Kii, who was represented by Chief Nuator Nwineedam thanked JSDI for coming to create the awareness in the community and promised that the community would protect the trees that have been planted.

“We are all climate ambassadors and friends of the climate. We like trees especially as Kaa is a coastal community with a lot of winds and storms and we know that these trees will help to protect damages on our buildings and others.

PHOTO: ENOCK REUBEN

Adibe Emenyonu in Benin City

Alex Enumah in Abuja

Adedayo Akinwale in Abuja

GRAND FINALE OF THE

GLOBACOM-SPONSORED OJUDE OBA FESTIVAL...

The Minister for Arts, Culture, Tourism and Creative Economy, Barrister Hannatu Musa Musawa (1st left); Governor Dapo Abiodun of Ogun State (2nd left); and National Commercial Coordinator, Globacom, Mr. Yomi Ogunbamowo (right), presenting the car key to the winner of Globacom’s Special Outstanding Leadership Award Car Prize, Mr. Opeoluwa Osisanwo, at the grand finale of the Globacom-sponsored Ojude Oba Festival on Sunday in Ijebu Ode, Ogun State

Fayose: PDP in Serious Trouble, May End Up Political Carcass

Says he won’t defect to APC

Former governor of Ekiti State, Ayodele Fayose, has declared that the opposition Peoples Democratic Party (PDP) is seriously troubled and may become a political carcass soon.

Speaking with newsmen after paying a courtesy visit to President Bola Tinubu at his Ikoyi-Lagos residence before returning to Abuja, Fayose stressed, “The PDP is in serious trouble; if something drastic is not done, the party will become a carcass, that is the gospel truth.”

On the issue of political defections, particularly those from PDP to All Progressives Congress (APC), Fayose was clear and emphatic, “Let me be very clear, Ayodele Fayose will not move from PDP to any other political party, not even the APC.”

He said, “I am 65 years old this year. Defection is a personal choice, and I cannot speak for those who have moved. Some say they are impressed with the president’s performance.”

When asked what he was personally doing to help reposition PDP, the former governor acknowledged he was no longer at the forefront of

national politics but emphasised that he played his part while in office.

He stated, “I’m no longer in the frontline; I am not a sitting governor anymore. When I was governor of Ekiti State, I made significant contributions. I was a hotbed of opposition and a strong voice for the PDP, everybody knew that. But today, I can only play a supportive role. Still, I must speak the truth: without urgent action, the PDP is headed for serious decline.”

Reaffirming his loyalty to PDP, Fayose said, “Yes, I am a party man, and that is why I said earlier that I will never leave the PDP for any other party. The moment I’m no longer in the PDP, I would rather quit partisan politics altogether.”

Fayose explained that although he had been a long-standing critic of past administrations, the efforts of the current government deserved acknowledgment.

He said it was unfair to expect a miraculous turnaround in a short time, but stated that the current administration had demonstrated commitment and courage in tackling Nigeria’s numerous challenges.

“For Nigerians, no one is saying it is easy,” Fayose stated. “There is no miracle that can turn things around overnight. But for the little the president has done, we must commend him,” he added.

He said, “I was a critic of the last administration, but you cannot compare the situation now. I am here today, not just because of his homecoming, but to also encourage him to do more for the country.”

Fayose, who was a PDP governor during his tenure in Ekiti State,

stated that his support for Tinubu was not new.

He said, “Even while I was in office, I had always believed in his leadership and I never hid my support for him, even before he became president. As leaders, we must be courageous enough to encourage him where he is doing well. Stabilising an economy that was on the brink is no small feat.

“There’s a clear difference between total change and steady stabilisation. The steps taken so far by the

president, especially regarding the economy and the currency, give us hope.”

On Ekiti State, Fayose commended the current governor, Abiodun Oyebanji, describing his performance as outstanding and worthy of support regardless of political affiliations.

He stated, “We have a governor in Ekiti who is doing very, very well. All the former governors are solidly behind him. In Ekiti, governance goes beyond political lines, our state is our primary constituency. It is only

through unity that development can happen.”

Fayose also disclosed that he had sought clarity from Tinubu regarding the political future of Oyebanji. He said, “The last time I visited the president I asked him about his position on Governor Oyebanji. He assured me of his support.

“Today, I asked again to clear the air because of the rumours flying around. His response was the same: ‘Ayo, that is where I am.’ And I told him I remain with the governor.”

Governor Otu: Eno’s Defection to APC Historic, Unifying Moment for South-south

Bassey Inyang in Calabar

Cross River State Governor, Senator Bassey Otu, has described the defection of his Akwa Ibom State counterpart, Pastor Umo Eno, to All Progressives Congress (APC) as a historic and unifying moment for the South-south geopolitical zone, and

Ondo PDP Candidate, Agboola Ajayi Heads to Appeal Court

APC: Agboola’s reaction was clear attempt to intimidate judiciary

The candidate of the Peoples Democratic Party (PDP) in the November 16, 2024 governorship election in Ondo State, Agboola Ajayi on Tuesday rejected the judgment of the state Governorship Election Petition Tribunal.

THISDAY reported that the tribunal, sitting in Akure, the Ondo State capital on June 4, 2025, upheld the victory of the All Progressives Congress candidate (APC) and the governor of the state, Hon. Lucky Aiyedatiwa, dismissing the PDP’s petition for lacking in merit, while the court also dismissed the petitions filed by the Allied People’s Movement (APM) and the Social Democratic Party (SDP) challenging the victory of Aiyedatiwa.

In a unanimous judgment, the three-member panel comprising Justice Imelda Etiape, Justice Daurabu Sikkam and Justice Benson Ogubu said Agboola failed to prove the case of

academic certificate forgery against the Aiyedatiwa’s running mate, Olayide Adelami while he also failed to prove the case of over voting during the election.

However, Ajayi, not satisfied with the judgement of the tribunal vowed to challenge the ruling at the Court of Appeal.

The PDP candidate, in a statement he personally signed and issued to journalists in Akure, said the ruling of the tribunal did not accord proper analysis to details of the evidences and exhibits submitted to it.

“Due cognisance and rapt attention have not been accorded to the kernel on which the Honourable Justices based their findings and conclusion, which in our opinion did not accord proper analysis to details of the evidences and exhibits submitted to tribunal while it sat.

“Thus, to say the very least, we feel disappointed that we didn’t get justice at that level, but we remain

undeterred and undiscouraged in our search to ensure that justice is not only served in this matter, but also ensure that honesty begins to prevail in our election process.

“Therefore, we restate our conclusion not to vitiate our rights and desires towards advancing our commitment to the legal process by appealing the judgement of the Tribunal at the Court of Appeal.” According to Ajayi, “this we do in spite of the obvious challenges that the judiciary faces in Nigeria at this particular period; including prevailing views that suggest the unportability of justice in our nation, we remain irrevocably committed to leaving no stone unturned in getting justice in this matter, because laws, particularly electoral laws are no mere decorations, but meant to be obeyed at every cost, or else our democracy remains a mere mockery, totally unworthy of celebration as it is earmarked to be celebrated on June 12th.”

a major boost for the ruling party.

Speaking with journalists in Calabar, Otu said it was a “great day” for both Cross River State and the entire South-south.

Otu, who is currently Vice Chair- man of South-south Governors’ Forum, recalled an APC South-south meeting hosted in Calabar last year, where he had advocated a shift in the region’s political landscape.

He stated, “At the time, I was the only APC governor in the zone, and I felt like an orphan.

“We had not yet won Edo or Delta states, and Akwa Ibom was not on board. But like I prophesied that day, something was going to happen - and it has.”

He described Eno’s move to APC as “a welcome development” for the progressive political family, stating that Cross River and Akwa Ibom, once a

single state, should naturally move in the same direction for regional development and harmony.

“With both of us now in alignment, alongside our APC sister states in the South-south, the region is better positioned to support the bold reforms and strategic direction of President Bola Ahmed Tinubu,” Otu said.

He praised Tinubu’s leadership, citing strides in fiscal responsibility, infrastructure development, and economic reform.

“Gone are the years of freeloading,” he declared, adding, “The indices show we are experiencing real growth, even amid global economic challenges.”

Responding to questions on the remaining PDP governor in the region, Governor Douye Diri of Bayelsa, Otu responded, “Governor Diri is my chairman in the South-

south Governors’ Forum. I don’t think he would want to stand alone.

“Like I always say, ‘follow who know road.’ He is a fine gentleman, and I believe he will make the right choice.”

Otu emphasised APC’s inclusive culture.

He said, “In APC, once you receive your membership card and broom, you have full rights. There will be no rancour, just like it happened in Delta,” he assured.

“This will bring unity, not just in Akwa Ibom APC, but across the region,” he stated.

Otu said he believed the Southsouth was now more united than ever under the APC banner.

“We are all in the same boat now. We’re no longer speaking different political languages. APC is the way forward,” Otu said.

New Report Exposes Human Rights Violations in Nigeria’s Mining Sector

Sunday Ehigiator

A report by the Community Development Advocacy Foundation (CODAF) has exposed the egregious human rights violations and environmental degradation of host communities by Chinese and indigenous mining companies in Nigeria. The report titled: “Mining Practices in Ezillo and Ikwo Communities of Ebonyi State: An Environmental Time Bomb”, was publicly unveiled at a global

briefing jointly organised by the Environmental Defenders Network (EDEN), Renevelyn Development Initiative (RDI) and Africa Just Transition Network (AJTN) and attended by over 60 participants, including legal experts, grassroots organisers, and media professionals. Field investigations conducted across four communities in the state revealed the total absence of Environmental and Social Impact Assessments (ESIA), a legal requirement under Nigerian law. It also revealed bypass of due

process by the mining firms, signing non-legislative agreements with local elites and exclusion of the broader community in the processes. At the global launch, Assistant Coordinator of the AJTN, Ciza Mukabaha, said that the report revealed a willful non-compliance with national and international legal frameworks, highlighting the devastating impact of pollution, land grabbing, intimidation, and the failure of companies to fulfil community development agreements.

Deji Elumoye in Abuja

Fidelis David in Akure

their media organisations against persecution by oppressors. Amuka is a personification of solidarity in the media.

On a larger note, the veteran journalist’s sympathy is understandably for the underdog and his philosophical outlook is unmistakably anti-injustice. Without a combative mien, he exudes a passion for social justice and fair play. Simultaneously, he is also concerned about the quality of output and ethics in the media. He is always at home when discussing the enhancement of professionalism in the media. While Amuka applauds reportorial excellence and notes with admiration diligent editing, he frowns at sloppy newspaper production. Amuka’s role in the evolution of tabloid journalism seems not be adequately acknowledged. Ever before the founding of VANGUARD, Amuka’s practice of journalism in the Daily Times Group and later the role in the development of THE PUNCH would be evidence of his flair for the tabloid genre. It is a veritable theme for media studies.

A quintessential patriot, Amuka’s quest for free speech is never in contradiction of his working towards the national interest. Of course, in his many decades in the media industry, he might have found out that the national interest sometimes would be at variance with the pursuits of regimes in power at different periods in history. Amuka has doubtless been a witness to history at those different periods with a knowledge of what is called in the newsroom “the inside story.” Amuka has succeeded in balancing journalistic integrity with his patriotic duty. And this is no mean achievement. Indeed, there is an organising principle to Amuka’s media practice. This is not a common virtue.

Amuka’s life is devoid of undue ego. His idea of competition is remarkably healthy. This much is illustrated in his unique relationship with Obaigbena. In ordinary terms, VANGUARD and THISDAY are competitors in

the increasingly difficult newspaper business. So, conventional morality would probably not permit effusive compliments being paid

to THISDAY’s owner by the publisher of VANGUARD. Not so for Amuka, who calls Obaigbena “the star.” On many occasions,

S I x Ye A r S o f e n DU r I ng ImpA c T An D T H e Jo U rne Y To T H e fUTU re to those who once believed dignity could not be built into public service. From the General Hospitals that have been reborn with new infrastructure to the Mother and Child Centres we have built in underserved communities, our focus has been clear: healthcare must be accessible and reliable.

Through the Ilera Eko Health Insurance Scheme, we have unshackled thousands from the fear that illness equals financial ruin. It is no longer a privilege to be healthy in Lagos - it is a right we are working every day to secure.

Education, the eternal light of human progress, has not been left in the shadows. Over 1,400 public schools have received infrastructural upgrades. But beyond bricks and mortar, we have reimagined what it means to learn in a 21st-century city.

With the Eko Excel programme, thousands of public primary school teachers are now armed with digital tablets, delivering datadriven instructions to pupils eager to learn. And through the Eko Digital Initiative, we are training our students in coding, robotics, and AI - because the child in Ajegunle should have as much access to the future as the child in Lekki or Ikoyi.

The environment is getting its deserved attention. We are planting not just trees, but legacies of sustainability. Through enhanced waste management systems, drain de-silting efforts, and the revitalization of green spaces, Lagos is turning the page to a cleaner, greener chapter. Our coastline is being protected, our air is growing cleaner, and climate resilience is no longer a buzzword but a policy direction.

Technology is no longer a luxury; it is the spine of our ambition. In these six years, we have laid over 2,700 kilometres of fibre optic cables, part of the larger 6,000 km Metro Fibre project that powers our broadband future. From the Lagos Digital Service Portal to intelligent transport systems, we have woven technology into the fabric of governance.

Our Art of Technology (AOT) conference birthed the Lagos Innovation Master Plan, which now supports startups, promotes civic tech, and has made Lagos the epicentre of Africa’s digital surge. Global tech giants Microsoft, Google, Meta, and others now see Lagos not as a footnote, but as a frontier. And as food security grows more pressing globally, we have moved to feed the future with action, not rhetoric. The Lagos Rice Mill, Imota - Africa’s largest - now hums with activity, turning paddy into prosperity. The Lagos Food Logistics Hub in Epe is reimagining how agricultural produce is preserved, processed, and delivered. With over 20,000 farmers empowered, we are not just growing food, we are growing dignity. Commerce, industry, and investment have found a new rhythm in Lagos. The Lekki Deep Sea Port, the largest in West Africa, now stands as a gateway to the world, unlocking trade corridors and employment.

recently commissioned

With over $1.5 billion in foreign direct investment in just three years, we are no longer asking investors to come; we are showing them why they must. Lagos is fast becoming a global economic powerhouse that is rising not on oil alone, but on the wings of fintech, logistics, clean energy, and innovation.

Job creation and wealth redistribution are not abstractions in our governance; they are deliberate outcomes. Through the Lagos State Employment Trust Fund (LSETF), over 250,000 women and young people have been trained,

Amuka has praised Obaigbena’s creativity, resourcefulness and resilience in the media industry. The camaraderie exhibited by the duo is instructive in the industry. In reciprocation, whenever he has the opportunity to say it, Obaigbena refers to Amuka as “a leading light of our profession.” Their relationship is like that of a father and his son. It is, therefore, a welcome proposition that Obaigbena is working on the establishment of the Sam Amuka College of Media Studies at the Western Delta University, Oghara, Delta State. It’s a project that is estimated to cost hundreds of millions. When it is done, it would be a fitting tribute to the nonagenarian for his immense contributions to the development of the profession of journalism and the media industry.

A man of a small physical size with a towering professional and societal stature, Amuka’s life is also defined by unmistaken modesty. You can call him Mr. Modesty, if you like. His personality is devoid of vanity. Here is a media owner who is shy of publicity. He seems to sometimes crave anonymity. He had “escaped” days before the celebrations organised to mark his previous milestones. Everyone earnestly hopes that this year’s own would be different!

Amuka’s humility will make the most supercilious person to be humble. He maintains a friendly disposition with the high and the low. His sense of humour would electrify any occasion. This reporter can bear a personal testimony with immense gratitude to this aspect of Amuka’s huge personality. My wife, Funmi, was on the editorial team of VANGUARD. Uncle Sam humorously calls her “the wife of a big man.” The old man has visited us on occasions spending hours with the family and sharing his rich experience. He is indeed a jolly good fellow.

Happy Birthday to the only uncle in the Nigerian media!

introducing green architecture because the Lagos of tomorrow must be smart, secure, and sustainable.

And what is a city without a soul?

The creative economy in Lagos is not just alive, it is ablaze. Through the Lagos Creative Industry Initiative (LACI), we are converting passion into profit. From the Lagos Film City to performance hubs across the metropolis, the artist, the storyteller, the gamer, and the innovator now have a home and a future in Lagos.

Six years have demanded not just vision, but vigilance; not just policies, but people-first implementation. We have governed with open ears, open hearts, and open minds. Through town halls, digital platforms, and community forums, we have not spoken to our people - we have spoken with them.

Having assembled a team who knows not just the weight of responsibility but the honour of service, with diligent, forward-thinking civil servants who have all been the sinews of our progress, we have built an engine of governance that runs on excellence, accountability, and an unyielding commitment to the greater good. Their dedication is the quiet force behind every street illuminated, every policy executed, and every life touched across Lagos State.

Their brilliance, resilience, and sacrifice are stitched into every success we celebrate. The private entities, too, have stood as dependable partners, bringing innovation, investment, and agility to complement our vision. Together, we have nurtured a governance ecosystem where collaboration fuels transformation, and every milestone is a shared victory.

The journey to the future is not a destination—it is a commitment. As the sun rises over Epe, glistens across the Lagos Lagoon, lights up Agege’s rooftops, and kisses the bustling skyline of Victoria Island, it carries with it the promise of a tomorrow we are building today.

My dearest citizens of Lagos, you are the true architects of this city’s greatness. Your hustle, your hope, and your belief are the reasons we rise every day with renewed purpose. Lagos is not waiting for the future; we are building it, one initiative at a time. I invite you to be part of this shared dream.

financed, and mentored into viable livelihoods.

Our Youth Development Centres are now incubators of talent and civic participation. Whether it is in fashion, tech, agriculture, or filmmaking, the Lagos spirit is thriving because we invest in those who carry it.

Our journey into housing and urban renewal tells its tale of rebirth. Over 17,000 housing units have been delivered in cities within the city; Ikorodu, Lekki, Badagry, Surulere - all rising to meet the demand for dignity in dwelling. We are digitising land titling, deploying smart surveillance, and

As citizens who protect and preserve our environment, as entrepreneurs who build wealth ethically, and as youths who innovate with purpose. As parents who inspire the next generation, as leaders in communities, workplaces, and families, Lagos belongs to all of us.

Every block we lay is a foundation for the future. Every policy we implement is a promise to our children. This city of over 20 million stories is rising, not as a place of survival, but as a beacon of innovation, inclusion, and inspiration.

And to the world, we say: Come and see what Africa’s pride truly looks like.

Uncle S A m TH e n on A gen A r IA

The

LBIC and Megamound Greater Lagos Apartments.

Sam Amuka

Investigators Accuse Maduka Okoye of Betting Fraud

Super Eagles goalkeeper, Maduka Okoye, who was outstanding in the recent friendly against Russia, has been accused of illegal betting.

The preliminary investigation, which started last year, has concluded that Okoye and three other suspects were culpable of fraud.

Ansareported yesterday that Okoye purposely got a yellow card in the 63rd minute of a Serie A match between Lazio and Udinese

in March 2024 for time wasting. Bets were staked in this respect manly in the Udine region of Udine that led to winnings of 120,000

Euros, the Italian Prosecution Office reported. Okoye only returned to action in March as investigations were

being carried out. A final investigation report is expected to be ready soon after which the player will be charged.

NFF Excited Achieving Objectives with Unity Cup, Russia Friendlies

President of the Nigeria Football Federation (NFF), Alhaji Ibrahim Musa Gusau, has asseverated that the Federation is delighted to have achieved its objectives for making the Super Eagles prosecute the FourNation Unity Cup Tournament in London and the friendly match with the Russia senior national team in Moscow, all within the past 12 days.

“I can tell you categorically that we achieved our sporting objectives, which were the most important in this case. The principal goal was to provide windows for the Coach and his crew to take a look at new players that might be positive additions to the team going forward.

“I had some conversations with Coach Eric Chelle and I could see that he was pleased with the opportunities that the tournament in London (Unity Cup) that we won, and the friendly match with Russia that we drew, provided for him and his assistants.”

Gusau reflected on the Super Eagles’ triumph in the Unity Cup Tournament (in which the Super Eagles defeated Ghana and Jamaica) and the gutsy draw with Russia, and expressed satisfaction with the output of most of the playing personnel.

“Apart from the regulars that we already know what they are capable of, the tournament in London af-

forded us the opportunity to see players like Benjamin Frederick, Felix Agu, Chrisantus Uche and Igoh Ogbu.

“We saw more of Cyriel Dessers. The home-based professionals (Papa Daniel Mustapha, Ifeanyi Onyebuchi, Collins Ogwueze) did not fare badly either.

“In Russia, we saw more of Uche and we saw Tolu Arokodare score a poacher’s goal. Goalkeeper Maduka Okoye was also excellent on his return and captain (William) Ekong held the defence unit well. Now, we have options in defence, midfield and the attack, and I am quite satisfied with the team’s output in the three matches.”

The Super Eagles defeated the Black Stars 2-1 in an entertaining Unity Cup semi-final at Brentford’s Gtech Community Stadium on May 28, and then outlasted Jamaica’s Reggae Boyz 5-4 on penalties after a 2-2 draw in the final three days later.

Tolu Arokodare scored in the second half to stalemate the clash with Russia’s Sbornaya at the iconic Luzhniki Stadium in Moscow on Friday, following Semi Ajayi’s inadvertent own goal in the first period.

“Now, we have good options in all areas as we look ahead to the FIFA World Cup qualifying matches, and I am certain that the technical crew is happy with that,” Gusau added.

Kaduna Polo to Host Dawule Baba Memorial Tournament June 12

The Management of Kaduna Polo Club has concluded arrangements to host the first ever Dawule Baba Memorial Tournament in honour of Nigeria’s polo icon who passed on recently in Egypt.

Until his death, the Nigerian polo ambassador was a member of the Board of Trustee of the foremost Polo club.

Scheduled to gallop-off from June 12 through June 15, 2025 at the polo grounds of the Murtala Mohammed Square in Kaduna, the memorial tournament will feature teams vying for honours in three broad categories.

Apart from the high-goal, medium goal and Low-goal categories, the event would also feature matches in the Beginners’ category and the Veterans games that would see polo patrons, particularly those who played alongside Dawule in his heyday as the master of the game.

In a media release by the Tournament Committee of the Kaduna Polo Club, the four-day event is to honour the legacies of the late polo legend who was a most beloved member and benefactor. His contributions to the greatness of the club and development of the noble game in Kaduna and across the country and globally remain unquantified.

The press statement indicates that the event that would feature mostly Kaduna-based teams and players, is open to teams and players across the country.

“In honor of a legend, the four days polo fiesta is open to everyone, polo patrons, players, teams and polo enthusiasts who wish to join

us in event of prayers, polo, and remembrance for Dawule Baba, The Teacher,” the statement added. According to the organizers, the fiesta that has the Kaduna State Governor as the Special Guest of Honour on the final day, will be witnessed by a long list of dignitaries that include captain of industries, top politicians, traditional rulers, members of the Diplomatic Corp and visiting dignitaries from across the world.

26 Countries Set forAfrican Fencing Championships in Lagos

Kunle Adewale

About 26 countries with over 200 athletes have confirmed their readiness to participate at the African Fencing Championships, slated for the Charterhouse Lagos, from June 25 to 29.

Speaking at press conference to herald the championship, President of the Nigeria Fencing Federation, Adeyinka Samuel, assured the countries participating in the championship of the best of hospitality and security.

“I assure the participating countries of a world-class experience. Teams can expect nothing less than exceptional hospitality, professional organization, and a vibrant, secure environment. Lagos offers a perfect

blend of modern infrastructure, cultural richness, and passionate sportsmanship.

“Beyond the thrilling competition, we aim to provide a memorable Nigerian experience, complete with captivating cultural showcases that reflect our diversity and a profound pan-African spirit of unity,” Samuel stressed Samuel expressed that hosting championship was a testament to the federation’s consistent efforts and unwavering dedication.

“Lagos will open its doors to the elite of African fencing as this is not just another competition; it is a landmark event, solidifying Nigeria’s position as only the third sub-Saharan African nation, after Senegal and Mali, to host this

prestigious championship.

“This achievement builds on the remarkable momentum we’ve generated, having successfully hosted the African Junior Championships in 2018 and 2022, and most recently, the World Cup in 2024. Nigeria is rapidly establishing her self as a rising hub for fencing, and this championship is a testament to our consistent efforts and unwavering dedication,” he noted.

Speaking on the choice of the venue of the championship, Samuel said having already successfully hosted Nigeria’s first Fencing World Cup, Charterhouse Lagos, with its over 400 years of British academic heritage, is the perfect venue for the 23rd African Fencing Championships, sanctioned by the International

Fencing Federation (FIE).

Meanwhile, the Chief Operating Officer, Charterhouse Lagos, Angela Hencher, has promised the school’s continued support and partnership with Lagos Fencing to host the Senior African Fencing Championships 2025 and future tournaments.

“This collaboration underscores Charterhouse Lagos’ bold mission: to deliver a transformative, holistic education rooted in British academic excellence, character development, and global citizenship.

“Fencing mirrors our educational values perfectly, the sport demands strategic thinking, self-discipline, respect and resilience – qualities that reflect our core values of Excellence, Integrity, Courtesy, Service and Wellbeing,” Hencher noted.

Eunisell, West Africa’s leading specialty chemicals and oil field solutions company, is set to honour Nasarawa United’s Anas Yusuf, who scored 18 goals to finish as top scorer in the 2024/25 Nigeria Premier Football League season.

The Eunisell Boot Award, which has since become a prestigious recognition in Nigerian football will take place on Friday, June 13, 2025, at the Radisson Blu Hotel, GRA Ikeja, Lagos.

In keeping with tradition, Eunisell placed a premium value of ₦200,000 per goal and for scoring 18 goals,

Anas Yusuf will receive a N3.6 million cash prize.

This reward underscores Eunisell’s ongoing commitment to recognizing and celebrating excellence in Nigerian football.

Since the award was launched in 2018, it has honoured the league’s finest finishers and elevated the visibility of domestic talents.

Distinguished winners include Junior Lokosa (2018; Kano Pillars); Sunusi Ibrahim and Mfon Udoh

Nasarawa United and Enyimba); Israel Abia (2020; Rangers) and Chijioke Akuneto (2022; Rivers United).

The Okpekpe International 10km Road Race, one of Nigeria’s most prestigious road-running events, is set to make a grand return in May 2026 after unforeseen circumstances prevented its 2025 edition.

According to Mike Itemuagbor, CEO of Pamodzi Sports International, organizers of the event, the race will come back bigger in scope, reaffirming its status as a world-class sporting event.

“The Okpekpe race is coming back stronger in 2026. Circumstances beyond our control ensured we could not hold this year. We have received a lot of inquiries from both athletes and officials who wanted to participate in the event, which

would have held last month, and we explained to them that the race will come back next year for its 11th edition,” Itemuagbor stated. The Okpekpe Road Race holds a special place in Nigerian sports history. It was the first road-running event in the country to have its course measured by a World Athletics-certified course measurer and the first road race in West Africa to receive a label status in 2015. This recognition came eight years after World Athletics began classifying road races into categories. Since then, the race has grown from a bronze label to become the first gold label 10km road race in West Africa.

L-R: NFF President, Ibrahim Musa Gusau; Super Eagles Head Coach, Eric Chelle; and the Chairman of the National Sports Commission (NSC), Mal. Shehu Dikko shortly after Eagles won the Unity Cup in London...recently

Late Dawule Baba...honoured with a polo tournament in Kaduna

(2019;

Kayode Komo LA fe

Uncle Sam the Nonagenarian

Americans sometimes refer to their national government amusingly as Uncle Sam. The origins of the two words have been traced to the abbreviation of the United States, U.S.

But in the world of Nigerian journalism the name Uncle Sam is exclusively reserved for the accomplished journalist, Prince Sam Amuka Pemu, who would turn 90 on Friday. The old and young in the media industry fondly call Amuka Uncle Sam.

However, septuagenarians and older persons would most likely call the nonagenarian “Sad Sam” in a nostalgic reference to his celebrated column of the 1960s and 1970s focusing on the troubles in the land. In the column, Amuka explored substantial issues of the society and polity in his inimitable style laced with humour.

The trajectory of Amuka’s career has provided ample lessons from his days as an editor in the old Daily Times to his position

as the founder of the Vanguard Newspapers. These are profound lessons of professional commitment, patriotism, infectious humility and exemplary modesty in personal life.

In a way, journalism has been Amuka’s life. He belongs to the vanishing breed of those in their youth who forgot other things of life in their devotion to journalism.

To secularise a Biblical passage, when two or more people are gathered to discuss journalism or matters related to it Amuka would be one of them even at 90. Amuka shares this passion for journalism with his professional brother, Chief Olusegun Osoba, former Ogun State governor. The word “doyen” is often misused in the media. You can only have the doyen of a profession and not a doyen or doyens. In other words, there can only be the doyen at a time! Indisputably, Uncle Sam is

today the doyen of the journalism profession. As the Chairman of the THISDAY/ARISE Media Group, Prince Nduka Obaigbena, often acknowledges publicly, Amuka is the oldest and most revered personality in the Nigerian media. And there is no indication yet that Amuka is tired despite the inescapable biological realities of old age. In any situation, Amuka would instinctively be on the side of an independent media and free expression. He has a network of friends within the Nigerian establishment cultivated for decades. Yet in the event of any dispute between a media house or a journalist and those in power, you would find Amuka on the side of the media working for the resolution of the issues. He fiercely defends journalists and

Six Years of Enduring Impact and The Journey To The Future

In the grand theatre of time, six years may seem like a mere flutter of the clock’s hands. But in the story of Lagos, these six years have been a symphony of transformation, innovation, and relentless commitment to people-centred governance. These have been years where the impossible became visible, where dreams took shape in steel and stone, and where policy was not just a document but a living, breathing force shaping the lives of over 20 million citizens. It has been six years of indelible

impact, and the journey to the future has only just begun.

When I assumed the sacred responsibility of leading Lagos, I did so with an unwavering belief in the limitless potential of our people. I envisioned a city not just thriving in its past glory, but leaping boldly into the future - digitally connected, economically inclusive, environmentally resilient, and globally competitive. That vision crystallised into a strategic blueprint: the T.H.E.M.E.S Plus agenda, our compass through turbulent

waters and calm tides alike.

In these years, transportation in Lagos has experienced a metamorphosis. Where traffic congestion once choked productivity, we have laid down new arteries for movement and mobility. The Lagos Blue Line Rail, now a proud fixture of our skyline, glides silently across the horizon, carrying not just passengers but our collective aspirations for a modern megacity.

And on its heels, the Red Line Rail is completed, moving over half a million

commuters daily, easing pressure on roads and transforming lives in ways that asphalt alone never could. We have rehabilitated and constructed over 970 roads, built interchanges, flyovers, and launched water terminals that have opened our waterways as viable transport channels. Each bridge constructed is a metaphor - a bridge to more opportunities, from delay to delivery.

Healthcare in Lagos today stands as a rebuke

Sam Amuka

L- R: Chief of Staff to the President, Rt Hon femi Gbajabiamila; President of the Senate, Godswill Akpabio; fCT minister, Nyesom Wike, President Bola Ahmed Tinubu and minister of State fCT, mariya mahmoud, during the commissioning of the Bola Ahmed Tinubu International Conference Centre in Abuja ... yesterday.