FRIDAY 19TH DECEMBER 2025 by THISDAY Newspapers Ltd

BONI, Investrust Dispute Raises Questions over Investor Protection in Zambia Emmanuel Addeh in Abuja

A dispute involving Nigerian investment firm, BONI, and Zambia’s financial authorities

is raising fresh concerns about investor protection, regulatory clarity and the credibility of African capital markets, especially at a time when governments

across the African continent are urging greater intra-African investment. Checks by THISDAY showed that the controversy centres on

BONI, led by global investor Michael Prest, and its failed investment in Investrust Bank Plc, a company listed on the Lusaka Securities Exchange.

Already, the case has begun to attract attention beyond Zambia, particularly within Nigeria’s investment community, especially due

to the implications it carries for market confidence and institutional reliability. The matter has gained

Continued on page 38

Petroleum Marketers Back In-country Refining, Oppose Unbridled Fuel Importation... Page 41 Friday 19 December, 2025 Vol 30. No 11212. Price: N400

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At APC Caucus Meeting, Tinubu Assures Nigerians State Police Will Become Reality Deji Elumoye in Abuja L-R: President of the Senate, Mr. Godswill Akpabio; National Chairman, All Progressives Congress (APC), Prof. Nentawe Yilwatda; President Bola Ahmed Tinubu; Vice President Kashim PHOTO: GODWIN OMOIGUI Shettima; and former Vice President, Prof. Yemi Osinbajo, during the APC National Caucus meeting held at the Presidential Villa, Abuja… yesterday

President Bola Tinubu, last night, assured Nigerians that the much Continued on page 38

In Major Diplomatic Reset, Senate Confirms 64 Ambassadors Okays Yakubu, Fani-Kayode, Dambazzau, Ibas, Omokri Subjects Tinubu’s oil regulators, Mohammed, Eyesan to rigorous screening Nominees promise digitisation, gas discipline, investor confidence

Sunday Aborisade in Abuja In a sweeping diplomatic move with far-reaching implications for Nigeria’s foreign relations, Senate on Thursday confirmed 64 nominees as career and non-career ambassadors of the Federal Republic of Nigeria,

approving a list featuring prominent political figures, former governors, ex-ministers, and seasoned diplomats. Relatedly, the joint Senate Committee on Petroleum Resources (Upstream, DownContinued on page 38

STRATEGIC PARTNERSHIP ON SECURITY...

L-R: National Security Adviser Mallam Nuhu Ribadu and the Nigeria Governors’ Forum (NGF) Chairman/Kwara State Governor AbdulRahman AbdulRazaq after a meeting on security matters at the NSA Office in Abuja ... yesterday

FRIDAY, DECEMBER 19, 2025 • T H I S D AY

THISDAY • FRIDAY, DECEMBER 19, 2025

Group News Editor: Goddy Egene Email: Goddy.egene@thisdaylive.com, 0803 350 6821, 0807 401 0580

NEWS

20TH YEAR OF MEDICAL DIAGNOSTIC EXCELLENCE OF EVERIGHT DIAGNOSTICS...

L-R: Wife of the Chairman/Chief Executive Officer, Everight Diagnostics, Mrs. Roseline Okpara; Chairman/Chief Executive Officer, Everight Diagnostics, Dr. Everest Okpara; Secretary to the Government of the Federation (SGF), Senator George Akume; former Governor of Imo State, Mr. Emeka Ihedioha; and Senator Osita Izunaso, during the 20th PHOTO: KINGSLEY ADEBOYE anniversary of Medical Diagnostic Excellence of Everight Diagnostics, held in Abuja… recently

At NDPHC’s Anniversary, FG Restates Commitment to Power Sector Reforms Adelabu says firm restored 345mw generation to national grid Adighije reveals over 9,000MVA of installed transformer capacity added

Emmanuel Addeh in Abuja The federal government has reiterated its plan to continue reforms in the power sector, highlighting that the Electricity Act 2023, the legislation which provides clearer legal authority as well as enhanced commercial credibility, represents a defining

turning point for Nigeria’s power sector. Speaking at the NDPHC’s 20th anniversary celebration held at the State House Banquet Hall, Abuja, Vice President Kashim Shettima, acknowledged NDPHC’s significant contributions to national development over the past two decades.

He noted that with the enactment of the Electricity Act, the NDPHC now has a stronger institutional footing for the company to compete, partner, and grow within a more open and dynamic energy market. Shettima, who also serves as Chairman of the Board of NDPHC, said the board views

the milestone as an opportunity for institutional evolution—from an integration-driven entity to a commercially disciplined and market-focused enterprise—while remaining faithful to its national mandate. According to him, the board has prioritised extracting greater value from existing as-

Green Hydrogen: Nigeria, Germany Strengthen Partnership for Sustainable Energy Future Emmanuel Addeh in Abuja

The third German–Nigerian Hydrogen symposium, co-hosted by the German Federal Foreign Office, the Federal Ministry of Budget and Economic Planning, the Ministry of Petroleum Resources, and implemented through the German-Nigerian Hydrogen Office (GIZ), has taken place, marking a major milestone in accelerating global drive to build a sustainable and inclusive economy. The two-day high-level event brought together senior policymakers, industry execu-

tives, researchers, development partners, and international stakeholders to deepen cooperation between Germany, Nigeria, and the broader ECOWAS region on hydrogen technology, policy, and market development, a statement said yesterday. Anchored in Germany’s global H2-diplo-Decarbonisation Diplomacy programme, which leverages diplomacy to advance green hydrogen partnerships, the symposium underscored both countries’ shared commitment to reducing carbon emissions, diversifying economies, and building innovative, sustainable

energy systems. Central to the discussions was the official presentation of Nigeria’s National Hydrogen Policy Draft—an ambitious framework designed to unlock the country’s vast hydrogen potential, drive industrial decarbonization, attract long-term investment, and position Nigeria as a pioneering hydrogen hub on the African continent. In her opening remarks, German Ambassador to Nigeria, Annett Günther, emphasised the strategic importance of the partnership in shaping a sustainable global energy future. “This

gathering has become a vital platform where policy meets practice and vision transforms into action,” Günther stated. Günther highlighted Nigeria’s competitive advantages, including abundant renewable resources, a dynamic private sector, and growing technical expertise. She also noted that Germany’s updated national hydrogen and import strategies reaffirm hydrogen’s indispensable role in decarbonising hard-to-abate industries.

sets, strengthening contracts and market participation, ensuring governance-led commercialisation, managing risks responsibly, and investing in human capital. “As chairman, I wish to state unequivocally that the board remains fully committed to its responsibilities. We will continue to provide strategic direction, uphold the highest standards of governance, support management in taking sound and accountable decisions, protect shareholder value on behalf of the Nigerian people, and keep NDPHC aligned with national energy and development goals,” he said. Shettima also commended President Bola Tinubu for restoring investor confidence in the power sector, describing him as a ‘magician’ working not with illusion, but with discipline and reform mindedness. “In a time when the power sector required not just policy but results, Mr President has been a magician working not with illusion, but with discipline and reform. He has

restored confidence in the sector and created the conditions for institutions such as NDPHC to thrive,” Shettima added. In his remarks at the event, the Minister of Power, Chief Adebayo Adelabu, underscored NDPHC’s critical role in the nation’s economy over the past 20 years, describing the company as a key pillar in expanding and safeguarding Nigeria’s electricity generation capacity. He said through the National Integrated Power Project (NIPP), NDPHC has developed generation plants and associated value-chain infrastructure across the country, creating one of the largest portfolios of governmentbacked power assets in Africa. “Whether you work in the field restoring turbines, in control rooms ensuring dispatch, in procurement securing parts and services, or in offices shaping policy and stakeholder engagement, your contributions are evident in the plants operating today and the lives benefiting from improved electricity supply,” Adelabu said.

NSITF Shines at SERVICOM, CIPSMN Seeks Presidential Wins Four Awards

Assent to Procurement Bill

The Chartered Institute of Purchasing and Supply Management of Nigeria (CIPSMN) has renewed its call on President Bola Tinubu to assent to its amendment bill, saying the move will strengthen professionalism and curb undue interference in procurement processes across the country. The National President of

the institute, Sikiru Balogun, made the appeal in Abuja while delivering his welcome address at the 16th Annual General Membership Meeting of the institute. Balogun commended members for attending the meeting despite rising insecurity on Nigerian roads, noting that banditry and kidnapping posed

serious challenges to movement across the country. “It is both an honour and a privilege to stand before you as the national president of this community of procurement and supply chain professionals, whose mandate is to shape industries, influence economies and keep the world moving,” he said.

Onyebuchi Ezigbo in Abuja

The Nigeria Social Insurance Trust Fund, has won four awards in different performance categories at the 19th SERVICOM Annual Awards. At the award ceremony, which held in Abuja Wednesday, the Managing Director of NSITF Barrister Oluwaseun Faleye was presented with the 2025 SERVICOM Award for his support and commitment

to citizen-centred service delivery. Other awards bestowed on NSITF include, the SERVICOM Special Recognition Award tagged “Servicomworkshere,” for touching lives through quality service delivery; the Second Best Performing Nodal officer (Parastatal) under the SERVICOM MDA Award category won by Gertrude Biosah, the Head of SERVICOM Department of the Fund; and

the Second Best Performing Parastatal SERVICOM Unit (PSU) Team C under the same category. While presenting the awards at a ceremony in Abuja, Acting National Coordinator and Chief Executive Officer of SERVICOM, Mr. Anthony Olugbenga Oshun, said Barrister Faleye won the Award for his “pragmatic approach to leadership which has continued to attract accolades to the NSITF.”

FRIDAY, DECEMBER 19, 2025 • THISDAY

NEWS

RENO OMOKRI, CLEARED...

L-R: Governor of Delta State, Rt Honourable Sheriff Oborevwori, with Ambassador-Designate, Bemigho Reno Omokri, after his confirmation by the Senate in plenary … yesterday

Report: Nigeria Struggling to Find Buyers for 20m Oil Barrels as Global Surplus Builds Key customers China, India shift to cheaper, alternative crude grades FG announces completion of mainline welding at AKK pipeline

Emmanuel Addeh in Abuja

West African crude oil sellers are struggling to find buyers for up to 26 December- and January-loading cargoes due to stiff competition from plentiful and cheaper alternative supplies, traders and analysts have told Reuters. The amount of unsold Nigerian and Angolan crude, analysts say, is a symptom of a wider oil market surplus. It drove selling on the international futures market that pushed Brent crude below $60 per barrel to the lowest since May this week. “The overhang of West African cargoes partly reflects the broader global crude supply surplus emerging in Q1,” said Victoria Grabenwoger of analytics firm Kpler. Approximately 20 million barrels of Nigerian oil for December

and January loading remained unsold by Thursday, according to two traders, while Angola’s December-January programmes still had as many as five to six cargoes available. These cargoes have slowed the start of the trading cycle for February cargoes even though Angola’s loading schedule and term nominations have already been released. Such a large amount of unsold oil is unusual, especially for the current month, given the West African trade cycle is typically closer to two months ahead. Estimates for both countries’ overhang were as high as 40 million barrels earlier this week, the Reuters report said. “Current market softness appears to be partly seasonal and partly due to shifting buying patterns in response to freight costs and alternative supply

options,” said OilX analyst Francisco Gutierrez, adding that Angolan January trade is 20 per cent behind its long-term average pace because the world’s biggest commodities buyer China has

switched to cheaper, or nearer alternative grades. Supplies from the Middle East are displacing medium and heavy West African grades in Asia as lowered official selling prices in

January and shorter voyages give those grades a competitive edge, the analysts said. India’s oil imports from Russia have remained resilient despite tightening Western sanctions,

displacing medium-heavy density West African crudes, while light to medium-density West African grades are struggling to compete with supplies from Argentina and Brazil, two traders said.

Oyetola Presents Bakassi Deep Seaport Certificate of Compliance to Gov Out Certificate follows recent approval by FEC

Kasim Sumaina in Abuja Minister of Marine and Blue Economy, Adegboyega Oyetola, presented Certificate of Compliance for the Bakassi Deep Seaport to Governor of Cross River State, Senator Bassey Otu, when the governor paid him a visit at his office in Abuja.

Tinubu Names Oseni Chairman of 7-man Reconstituted Board of NERC

Presenting the certificate, Oyetola described the Bakassi Deep Seaport as a strategic national asset that aligned with the Renewed Hope Agenda of President Bola Tinubu, particularly in repositioning Nigeria as a competitive maritime and logistics hub. The minister, in a statement on Thursday by his Special Adviser, Media and Communication, Bolaji Akinola, assured that the federal government would continue to support

Cross River State to ensure successful delivery of the port. Oyetola lauded Otu’s commitment and pace in driving the project, stating, “This project has the capacity to significantly boost livelihoods, create jobs and expand economic opportunities not only for Cross River State but for Nigeria as a whole. “The federal government remains committed to sustained collaboration with the state government and private sector

partners to bring the project to fruition. The presentation followed the recent approval by the Federal Executive Council (FEC) of the Bakassi Deep Seaport.” In his remarks, after receiving the certificate, Otu applauded the federal government for its support, describing the moment as historic and a major milestone in Nigeria’s journey towards unlocking the full potential of the marine and blue economy sector.

Charges board members to consolidate ongoing PLAC Flays Poor Budget Implementation, transformation of nation’s power sector Says It’s Fueling Poverty, Underdevelopment Deji Elumoye in Abuja

President Bola Tinubu has approved the reconstitution of the seven-man Board of the Nigerian Electricity Regulatory Commission (NERC), following Senate’s confirmation of its members on December 16, 2025. According to a release issued on Thursday by presidential spokesperson, Bayo Onanuga, Dr Musiliu Olalekan Oseni is the new Chairman.

Oseni started his service as a Commissioner in January 2017 and was subsequently appointed Vice Chairman of the Commission. His appointment as Chairman took effect from 1 December 2025 and shall subsist until the completion of his ten-year tenure at the Commission, in accordance with the provisions of the Electricity Act, 2023. Other members of the

reconstituted Board are Dr Yusuf Alli, Vice Chairman, who was first appointed as a Commissioner in February 2022. His designation as Vice Chairman took effect on 1 December 2025 and shall remain in effect until the completion of his first term. Mr Nathan Rogers Shatti — Commissioner, is serving a second term as commissioner since he was first appointed in January 2017.

Onyebuchi Ezigbo in Abuja

The Policy and Legislative Advocacy Centre (PLAC) has expressed concern over what it described as disappointingly slow implementation of the country’s national budget. It also said that the delays and lack of accountability associated our budget implementation have often led to the growing poverty, underdevelopment, and insecurity plaguing the

country. Speaking with journalists in Abuja, the Executive Director of PLAC Mr. Clement Nwankwo said the fact that the 2026 National budget is yet to be presented to the National Assembly by the third week of December doesn’t look good. “The government is not spending money in ways that we can see. The 2025 budget has not been implemented at all, and the 2024 budget has only

been partially implemented. “On record, I think it is disappointing to see that national budgets are not being implemented. Budgets are made, yet there is no accountability regarding their implementation. Nwankwo added, “For the first time in almost a decade, we are past mid-December and the budget has still not been presented before the end of the fiscal year.

FRIDAY, DECEMBER 19, 2025 • T H I S D AY

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NEWS

EXPLORING COLLABORATION...

L-R: Deputy General Manager, Enterprise Support Services, Nigeria Inter-Bank Settlement System (NIBSS), Mr. Bola Enigbokan; Managing Director/Chief Executive Officer, NIBSS, Mr. Premier Oiwoh; Managing Director/Chief Executive Officer, Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Oludare Sunday; and Executive Director, Corporate Services, NDIC, Mrs. Emily PHOTO: ENOCK REUBEN Osuji, during a courtesy visit by the NIBSS management team to the NDIC in Abuja… recently

Nigeria Issues New Charts for Safe Ship Access to Calabar and Bakassi Deep Seaport Chiemelie Ezeobi For the first time, maritime traffic heading into Calabar and the proposed Bakassi Deep Seaport will now operate using newly issued Nigerian Electronic Nautical Charts (ENCs) as part of measures to strengthen safety along the country’s eastern

coastal approaches. The development followed the release of three IC-ENC-validated chart cells — NG455150 (Jamestown), NG525190 (Queenstown to Ikot Abasi), and NG542550 (Ports of Calabar) — produced by the National Hydrographic Agency (NHA) for mandatory use by

mariners navigating through the eastern channel up to the inner port limits. After the successful validation by NHA, the newly released ENCs will enhance safety of navigation, improve situational awareness for mariners, and supports more efficient port operations and maritime trade.

According to the Hydrographer of the Federation and Chief Executive Officer of NHA, Rear Admiral Ayo Olugbode (Rtd), it also reflected Nigeria’s Renewed Hope Agenda and the country’s continued commitment to delivering accurate, modern, and internationally compliant hydrographic services in line

FG Pushes N1trn Mining Sector Target as COMEG Inducts New Professionals Folalumi Alaran in Abuja

The federal government on Thursday reaffirmed its determination to transform Nigeria’s solid minerals sector into a trillion-naira economic pillar, as the Council of Nigerian Mining Engineers and Geoscientists (COMEG) inducted a new batch of professionals into the country’s mining and geoscience community. Speaking at the induction and oath-taking ceremony in Abuja, the Minister of Solid Minerals Development, Dr. Henry Dele Alake, represented by the

Permanent Secretary, Engr. Faruk Yusuf Yabo, said the Tinubu administration is driving a historic turnaround of the solid minerals sector - anchored on professionalism, transparency, and value addition. “This government is committed to harnessing Nigeria’s mineral wealth to achieve the N1 trillion economy target envisioned by His Excellency, President Bola Ahmed Tinubu. COMEG is not just a regulator - it is a strategic partner in this national transformation.” Dr. Alake noted the ministry

has recorded tangible results under the Renewed Hope Agenda, with mining revenues rising sharply from N12 billion to over N50 billion in 2025, while 867 new licenses were issued nationwide. He added that new exploration projects will take off in 2026 following presidential approvals for expanded surveys across key mineral-rich corridors. The minister outlined five reform pillars aligning with COMEG’s mandate: digital transformation, professional development, ethics and enforce-

ment, formalization of artisanal mining, and international recognition. He praised COMEG’s drive to digitalize its operations through the deployment of an Enterprise Content Management system, saying this aligns with the Ministry’s Electronic Mining Cadastre and Decision Support Platform - systems designed to ensure transparency, efficiency, and investor confidence.

with #SOLAS, #IMO, and #IHO standards, strengthening the country’s maritime safety architecture and advancing the blue economy. Olugbode said the charts provided digital navigational coverage that brought together current information on water depths, seabed conditions, navigational hazards, aids to navigation, and harbour facilities. He stated, “They are designed to support safe passage into Calabar Port and the planned Bakassi Deep Seaport and were derived from a high-resolution survey of the Calabar–Bakassi axis conducted to international standards comparable to IHO S-44 Order 1 for busy approaches and harbour entrances.” The NHA chief executive said the expanded chart output was the result of increased deployment of specialised naval survey vessels and the expertise of its trained personnel. Olugbode stated, “The sea is our largest unexplored resource,

and if we don’t map it, we can’t manage it.” He said beyond improving navigational safety, the charts were essential to unlocking the productive exploitation and development of Nigeria’s blue economy. Olugbode also stated that the focus on charting strategic maritime corridors, such as Lagos, Calabar and the Bonny axis, reflected their importance within NHA’s phased mapping programme. He disclosed that the efforts contributed to the more than 85,325 square kilometres of Nigeria’s maritime domain already mapped, describing the Calabar sector as a key component in a wider ENC framework intended to minimise navigational risks for vessels bound for Nigerian ports. The hydrographic survey that informed the new charts formally began on December 21, 2024, with intensive data acquisition starting on January 6, 2025.

BOI, BRIPAN Forge Partnership to Deepen Insolvency Practice in Nigeria

Sterling Strengthens Media cooperation, particularly in in insolvency and business Oluchi Chibuzor business recovery, insolvency rescue, was well positioned Capacity on Sustainability Reporting The Bank of Industry (BOI) management and loan resolu- to work with BOI in sustaining enterprises across the country. and the Business Recovery and tion.

Michael Olugbode in Abuja

In a deliberate move to deepen responsible sustainability reporting and strengthen the role of the media in national development, the Sterling Sustainability Working Group has convened a high-level sustainability training for journalists as part of activities marking the 2025 National Sustainability Week (NSW). The Sterling Sustainability

Working Group champions the sustainability mandate for the Sterling Financial Holdings Company that comprises of Sterling Bank and Alternative Bank. The strategic programme, organised by the Sterling Sustainability Working Group in partnership with the Climate Africa Media Initiative and Centre (CAMIC) in collaboration with NatureNews brought together

selected media executives and journalists from across the country for a two-day hybrid engagement that began on Tuesday in Abuja. Welcoming participants, chairperson of the Sustainability Working Group, Mrs. Bunmi Ajiboye, underscored the central role of the media in shaping public perception and policy conversations around sustainability.

Insolvency Practitioners Association of Nigeria (BRIPAN) have moved to strengthen collaboration aimed at deepening insolvency practice, enhancing business rescue efforts and reducing loan losses across Nigeria’s economy. This was disclosed during a courtesy visit by the leadership of BRIPAN to BOI in Lagos, where both institutions explored areas of structured

Speaking at the visit, President, BRIPAN, Mr. Chimezie Ihekweazu, said the engagement was designed to create awareness about BRIPAN’s mandate, capacity and how its members could support BOI’s growing portfolio of businesses. Ihekweazu noted the association, made up of lawyers, accountants and bankers with specialised expertise

He intimated that BRIPAN is statutorily recognised under Sections 705 and 707 of Companies and Allied Matters Act (CAMA) 2020. According to him, “This visit has come at a very good time. BOI is one of the biggest financial institutions in Nigeria and has continued to support major, small, medium-scale and micro businesses through the provision of huge facilities.

FRIDAY, DECEMBER 19, 2025 • T H I S D AY

ALL AFRICA MUSIC AWARDS

LAGOS, JANUARY 7-11, 2026

FRIDAY, DECEMBER 19, 2025 • T H I S D AY

NOTICE OF PRESENTATION OF THE

APPROPRIATION BILL, 2026, TO THE NATIONAL ASSEMBLY

am directed to inform Distinguished Senators and Honourable Members that the President, Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, Sen. Bola Ahmed Tinubu, GCFR, will be presenting the 2026 Appropriation Bill to the Joint Session of the National Assembly as follows: Time: Date: Venue:

3:00 pm prompt Friday, 19th December, 2025 House of Representatives Chamber National Assembly Complex, Abuja

Distinguished Senators, Honourable Members, and invited Dignitaries are expected to be seated by 2:00 pm.

Signed: KAMORU OGUNLANA, ESQ. Clerk to the National Assembly

FRIDAY, DECEMBER 19, 2025 • T H I S D AY

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FRIDAY, DECEMBER 19, 2025 • T H I S D AY

T H I S D AY FRIDAY DECEMBER 19, 2025 20 TR

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Friday December 19, 2025 Vol 27. No 11218

opinion@thisdaylive.com

www.thisdaylive.com

QUIET STRENGTH OF HUMILITY

Sheriff Oborevwori ushers in worshippers to their seats at Shiloh annual Christian programme, writes ADENEKAN OLUWAPOSI

See page 21

NIGERIA’S FIFA WORLD CUP QUALIFICATION

JOSHUA J. OMOJUWA argues that hope is never in short supply in Nigeria

See page 21

EDITORIAL

THE DEATH OF BAYELSA DEPUTY GOVERNOR

See page 22

YUSUPH OLANIYONU pays tribute to Bukola Saraki, former Senate President at 63

SARAKI AS AGENT OF NATIONAL UNITY

If you ask Dr. Abubakar Bukola Saraki for the birthday gift he desires today, he will probably request unity within his political party, the Peoples Democratic Party (PDP), as his best wish for the moment. The PDP is facing yet another crisis after losing power 10 years ago. And as his 63rd birthday approached, Saraki refused to endorse any form of celebration. Rather, his pre-occupation for now is how to work with some party leaders, stakeholders, elders, and members to initiate discussions on how to unite the various feuding groups within the PDP. To many, this is a far-fetched option. It would have been easier to just move over with his supporters to the ruling party, the All Progressives Congress (APC) as it is the fad in the country’s political arena today. However, the former Senate President has vowed not to be part of any agenda that will create a one-party state in Nigeria. He would not be part of a plan to foreclose options to the electorate as democracy itself is about free choices, made under a credible, peaceful, and competitive atmosphere. There are also others who believe the much-talked-about coalition can do so much and so well with his strategic thinking and planning aptitude. He has also said he would not be part of an arrangement cobbled together out of anger and for personal designs. He would also not consider moving into a small party just for the sake of contesting elections in 2027. To him, all such designs are short-term plans and only aimed at power or state capture. They do not represent a desire to create an enduring solution. They cannot produce a platform that can strengthen democracy or enrich the political process for the purpose of serving the country and its people. To him, the PDP remains the best platform that can effectively challenge the ruling party and offer a credible option to the people. He believes the PDP has a rich history, pervasive reach, enduring structure, tested brand, and solid bases that if supported by committed people, determined leaders, and the right resources, can win elections, without much problem. Saraki is a die-hard PDP man. He believes defecting to another hurriedly put-together party led by elements with disparate backgrounds will not solve the problem of Nigeria. Just like the APC after ten years in power is unable to do. PDP, he said, has all the potential and

institutional processes for building an enduring platform that will provide good governance, strengthen democracy, and enrich the political process. He is also determined to take the difficult route, strewn with thorns and hard rubbles. The easy way, he said, never leads to a lasting solution. The benefits are never enduring. They are never a good option for a country with an expected long lifespan. It is not surprising that more and more leaders in the PDP are listening to him and working with him. It seems that one of the values and virtues that any Nigerian cannot take away from Saraki is his ability to reconcile feuding elements, unite a divided group, and stabilize a ship amidst a storm. Thrice, the PDP had turned to him to steady the ship when it hit the stormy water or when it was heading for the rock. On each occasion, he was able to work with others in achieving stability and steadying the wobbling craft. You may wonder why the ship relapsed into difficult terrain after Saraki’s past efforts. This is because the storm in Nigerian politics when a party loses power in a dramatic way the PDP did is always ceaseless. After all, the scheme by the incumbent party and the inability of the former office holders to cope with the loss of power will forever ensure the former ruling party remains in disarray. That is the dynamic of politics in a third world. Saraki by nature is a man built for difficult tasks. He never liked the easy way. Perhaps, that is why a medical doctor who is the son of another medical doctor and had a hospital he could just inherit and work to expand decided to pursue his interest in business. It is also the reason why as governor despite the assurances of the support of an enduring

and strong political structure, he worked 25 hours a day to ensure the success of his administration. He said he wanted to be a good model for other politicians with a privileged background that coming from a rich home does not make one a poor performer and that a poor background does not make one a good administrator. He wanted to reassure the people that even though he was never hungry out of want or lack of food, he perfectly understands the needs of the people and what role the government should play to improve their standard of living. He also decided to seek the Senate Presidency because for four years as a Senator, he observed that the leadership of the institution needed to initiate deliberate actions and programmes that would correct the wrong perception that its members do nothing and are a burden on the cost of governance. Today, many still reminisce about how the Eighth Senate he led made so many positive differences. And that is in spite of deliberate efforts by the executive arm to frustrate the legislature and unsettle its steady progress. Perhaps, his predilection for always working towards reconciliation and unity also emanated from his background. A man with a father from Kwara State in the North Central zone or an area originally known as the middle belt of Nigeria, his home state creates a buffer between the North and the South. His late mother was from the Southwestern Ondo State. His paternal grandmother was from the Southwestern Oyo State. His father was a Muslim and his mother was a Christian. While he is a staunch Muslim, his wife is a devout Christian. Thus, he had the temperament to understand and deal calmly, fairly, and impartially with all the issues that constitute the fault lines in the country. He has also proved to be a man capable of dealing boldly and maturely with challenges and setbacks. For him, six years out of power has only strengthened him intellectually and positioned him in a vantage position to view issues as an impartial observer. It has also made him appreciate why those who are blessed by God should spend more of their resources to help the less privileged and invest more in developing the communities. He spends more time now on his relationship with Almighty Allah (SWT), community development, family, and business. Olaniyonu writes from Abuja

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FRIDAY DECEMBER 19, 2025

Sheriff Oborevwori ushers in worshippers to their seats at Shiloh annual Christian programme, writes ADENEKAN OLUWAPOSI

QUIET STRENGTH OF HUMILITY

In a world where power often erects walls and public office breeds distance, a rare and refreshing moment unfolded at the just-concluded Shiloh annual Christian programme of the Living Faith Church Worldwide. Amid the sea of worshippers, choristers, top pastors and church workers, one man quietly stood out, not because of security details, political paraphernalia , but because of an apron of service. He was Governor Sheriff Oborevwori, the Executive Governor of Delta State. Clad simply and blending effortlessly with other church volunteers, the governor was seen ushering worshippers, guiding congregants to their seats and serving with calm attentiveness. Within hours, videos and images of the moment spread across social media, igniting admiration and reflection. For many Nigerians, it was not just a viral moment; it was a powerful reminder of leadership anchored in humility and reverence for God Almighty. For Governor Oborevwori, the act was neither a publicity stunt nor a departure from character. Those who know him closely insist that the humility on display at Shiloh is consistent with the man he has always been. Long before the weight of public office rested on his shoulders, he embraced the Christian doctrine that leadership is service and greatness is found in humility. In a society where exalted positions often come with entitlement and visible separation from ordinary people, the governor’s conduct quietly challenged prevailing norms. He did not announce himself. He did not demand special treatment. He simply served. The symbolism was profound. Here was a man entrusted with state power and authority, yet completely submitted to God, comfortable taking instructions, performing routine tasks and serving alongside fellow believers. It was leadership stripped of ego and power laid at the altar of faith. Public office has a way of reshaping personalities. It hardens some, distances others, and inflates egos. Yet Governor Sheriff ’s demeanor at Shiloh told a different story. The same man elected to govern remained unchanged in spirit—grounded, accessible and deeply conscious of who he is before God. Observers noted how effortlessly he performed his ushering duties, exchanging warm smiles, offering gentle guidance and displaying genuine concern for worshippers. There was no trace of impatience or superiority. Instead, there was an unmistakable sense of purpose: service to God and service to people. For many, this constancy of character explains his growing reputation as a leader who governs with empathy.

Power, in his case, has not altered his essence; it has amplified his values. Governor Oborevwori’s love for the people he leads is widely acknowledged, and those close to him trace it directly to his Christian convictions. His faith teaches compassion, humility and responsibility toward others, values that now reflect in his public life, which are widely attested across the oil-rich state of Delta. At Shiloh, those values were visible not in speeches or declarations, but in quiet action. His willingness to serve in ushering capacity mirrored the biblical principle that leaders must first be servants. It also echoed Christ’s example like washing feet, feeding the hungry and identifying with the least. This same empathy, aides and close associates say, defines his approach to governance. Whether engaging community leaders, listening to citizens’ concerns or responding to social needs, Governor Sheriff is known for a hands-on style that prioritizes human dignity over political distance. The visuals from Shiloh resonated far beyond the Living Faith Church. They sparked conversations about leadership, faith and accountability. Many Nigerians, weary of arrogance in public life, found hope in the simplicity of the moment. Religious leaders praised the governor for publicly acknowledging God as the ultimate authority. Civic voices described the act as a reminder that leadership must be rooted in humility. Young people, in particular, saw in him a model of integrity, proof that success and service can coexist. In a country searching for leaders who inspire trust, the governor’s actions communicated more than words ever could. They conveyed sincerity, reverence and a deep understanding that all authority flows from God. At the heart of the viral moment was a complete reference to God Almighty. His service was an act of worship, an outward expression of an inward conviction that leadership is stewardship and that no title is greater than one’s identity as a servant of God. Oluwaposi writes from Lagos State

JOSHUA J. OMOJUWA argues that hope is never in short supply in Nigeria

NIGERIA’S FIFA WORLD CUP QUALIFICATION

Nigeria endured arguably its worst FIFA World Cup qualifying series and still managed to stay alive, qualifying for the CAF tournament for the best second place finishers in the qualification series of the 2026 World Cup. We were rewarded for dropping points against the last team in our group whilst other teams who beat the last teams in their group got ‘punished’. Nigeria benefited from a CAF rule whereby, “Whenever a group has fewer than five teams due to withdrawal or disqualification, results against the lowestranked or withdrawn teams will not be considered when determining the best runners-up”. Eritrea’s withdrawal in Group E landed us qualification for the CAF final round of qualifications. Nigeria technically stayed alive despite missing out on direct qualification. At the play-off tournament featuring Gabon, Congo DR and Cameroon, we beat Gabon 4-1 after extra time while Congo DR shocked Cameroon, 1-0. We ended up losing to Congo DR on penalties after a 1-1 draw. We’d missed out on qualifying for the FIFA Intercontinental Play-Off tournament where we’d have only needed to wait in the final, win one more game and then qualify for the 2026 World Cup. Congo DR earned the right to achieve that on the pitch. Now, Nigeria is hoping to have that overturned as we play to technicalities again. We are doing everything we can off the field to qualify for the World Cup. The issue is, all the other teams that qualified for the World Cup did everything they could on the field. That’s why they aren’t now investing in vain hope. The CAF rule we enjoyed to have qualified for the African play-offs would have been knocked by most of us had Nigeria been one of the countries that had to lose maximum points for no fault of theirs. This qualification series couldn’t have favoured us more. It was the easiest group ever in the history of our World Cup qualifiers. And now, here we are. Nigeria probably has a case but it is weak at best. FIFA is an interesting organisation, so nothing is impossible—FIFA overruled its own laws of the game when it was announced that instead of serving his remaining 2-match ban at the World Cup, Cristiano Ronaldo is now able to play those matches as his suspension has now been suspended. In an organisation that can bend its own rules for a player, Nigeria certainly can hope. The weakness of our case is that we do not have any FIFA laws or statutes to petition FIFA on. Nigeria’s case appears simple enough. According to the NFF general secretary Mohammed Sanusi, "Our contention is that Fifa was deceived into clearing them. The Congolese rule says you cannot have dual nationality, but some of their players have European and French passports. There is what we consider to be a breach of (Fifa's) regulations. We are saying it was fraudulent." A breach of Congolese laws? Possibly.

A breach of FIFA regulations? No. There is no FIFA regulation that says a player cannot hold multiple nationalities. Our argument then will be to claim that those players aren’t Congolese because the laws of their own country invalidates their citizenship. It appears to me that we’d need the Congolese government to cooperate with us to make a strong argument at FIFA, which will then help us replace their own country at the FIFA tournament. I hope you get the point. After enduring an arduous World Cup qualification series where we could only win 4 matches in 10, in a group with Lesotho, Zimbabwe and Rwanda which should suggest a 6-win return and then add Benin Republic and South Africa which looks to me like the worst we should have returned with is 8 wins at worst. On the pitch, we were such a disaster, to put it mildly and even when we got a second chance, we drew two games in regulation time. Having drawn 5 of 10 games during the main qualifying round, we in essence drew seven games out of 12, losing only one in regulation time. There is something there. And that something is also reflected in our AFCON record where we often fall short at the semi-final stage. We’ve won a record number of bronzes. Of our record 16 AFCON medals, only three are gold, eight being bronze. This indicates that Nigeria without putting in its best effort can be competitive. It is easy to see why, we have an impressive talent pool. What we lack, where we have always fallen short is in organisation. Days before Nigeria played Gabon in the CAF tournament in Morocco, the players went on strike. Several generations on, we continue to experience bonus issues. As we speak, Monsieur Eric Chelle, the coach of the Super Eagles is owed several months’ salaries. We had gone for a relatively cheap coach and still manage to continue our traditional salary defaults. We return to AFCON this December like we did the last time; with few Nigerians giving the Super Eagles a chance. This was why despite losing the final in Cote d’Ivoire the last time around, the silver medal was treated like it was gold. Because we had such low expectations for that team, a poor final loss felt like a win. This is not an anomaly in Nigerian football. We once returned from an AFCON edition with the bronze medal being referred to as ‘golden bronze’. Omojuwa is chief strategist, Alpha Reach/ BGX Publishing

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T H I S D AY

FRIDAY DECEMBER 19, 2025

EDITORIAL

Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com

THE DEATH OF BAYELSA DEPUTY GOVERNOR

A healthy lifestyle is helpful in stemming sudden death

e commiserate with the government and people of Bayelsa State over the death of their Deputy Governor, Lawrence Ewhrudjakpo. He reportedly collapsed while proceeding to a scheduled meeting within his office and was rushed to the Federal Medical Centre where he was later confirmed dead. While we await the report of the autopsy ordered by Governor Douye Diri, health authorities in the country should be concerned about the growing numbers of sudden death victims. Sudden death occurs, according to experts, when there are abnormal heart rhythms, and the heart is unable to pump blood. Within minutes, this could cause death unless emergency treatment is begun immediately. Incidentally, many of these incidents come without warning signs. In the case of sudden cardiac arrest, for instance, over half of the victims die without symptoms. When there are signs, they come in the form of racing heartbeat, or victims may feel dizzy, alerting them that a potentially dangerous heart problem has started. Other symptoms listed include headache, chest discomfort, breathing problems, blurring vision and convulsion. A few predisposing illnesses such as hypertension, stress, high cholesterol, and diabetes may precipitate a sudden death syndrome. In a country where many of the citizens resort to self-medication to bypass the cost of seeing a medical doctor, abuse of medications can result in dangerous drug interactions with lethal consequences, particularly among those who have pre-existing medical problems. Heart diseases experts have long warned that death could occur because of wrong diagnosis, which happens to be an issue in Nigeria. Many people who are obese or suffering from ill-managed diabetes can also easily fall victim of heart diseases and unexpected death.

Following the reported death of many Nigerians after a match involving our country during the 34th Africa Cup of Nations in Côte d’Ivoire in January 2024, many experts argued that there must be underlining medical conditions before otherwise healthy people would suddenly die the way they did. In a statement signed by Augustine Odili, Chizindu Alikor and Adeseye Akintunde, all Professors of Medicine, the Nigerian Cardiac Society raised pertinent questions about cardiovascular health of most Nigerians. While admitting that it could not speculate on the exact cause of the reported deaths at the time, they nonetheless admonished: “We owe it a duty to call the attention of Nigerians to the very possibility that sudden death can occur either in the presence/ absence of risk factors many of which are highly prevalent among Nigerians and are also poorly controlled.” Indeed, the frequency of these deaths arising from cardiovascular or related diseases can be brought down considerably if people take time in keeping regular follow-up appointments with their doctors, taking medications as prescribed and making certain lifestyle changes. We urge Nigerians to attend regular health screening, at least once a year. Indeed, it should be as regular as they service their cars and generators for those who can afford it. This gives them an opportunity to update their health situation. In addition, quitting such habits like smoking, losing weight and exercising regularly can help in containing incidents of sudden death. Indeed, while advocating more funding for the health sector at all levels, the Nigerian Cardiac Society recommends a promotion of effective lifestyle modification to reduce the burden of cardiovascular diseases in the country. “We call on all Nigerians to look out for one another and promote healthy lifestyle. Together we can honour those we have lost by preventing similar tragedies in future.” It is in our collective interest to heed the admonition.

The frequency of these deaths can be brought down considerably if people take time in keeping regular follow-up appointments with their doctors 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

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

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

LETTERS BOSUN TIJANI: FROM TWITTER SOLUTIONS TO MINISTERIAL EXCUSES

Bosun Tijani, the Minister of Communications, Innovation and Digital Economy, has once again found himself explaining why governance is far more complicated than campaign rhetoric and social media bravado suggest. Speaking recently, Tijani claimed that bandits operating across parts of the country rely on “a special kind of technology” to make calls and evade security surveillance. According to him, tracking such communications is far more complex than many Nigerians assume. “The reason why the president actually pushed us to invest in towers in those areas is that we realised there was a special kind of technology that they [the bandits] were using to call,” Tijani said. “They were not using the normal towers; they bounce calls off multiple towers. That is why they enjoy living in areas that are unconnected.” While the explanation may sound technical, it raises a

bigger question: would Tijani have accepted this line of argument during his “activist” days on Twitter, when he routinely criticised government officials and claimed to have ready-made solutions to Nigeria’s problems? One can only imagine the reaction if a former minister such as Isa Pantami or any of his predecessors had offered this explanation while in office. Back then, Tijani would likely have dismissed it as incompetence, insisting that artificial intelligence, innovation, and “political will” were all that stood between Nigeria and effective security solutions. If Tijani were not a minister today, Nigerians would probably be reading long threads on how AI, big data, and smart surveillance could defeat banditry overnight. After all, in the age of AI, governance is often presented as something close to rocket science—until one is actu-

ally responsible for delivering results. As the Yoruba saying goes, “Enu dun r’ofo”— meaning "it is easy to make a delicious meal (of efo or vegetable soup) with words of mouth”. Beyond security rhetoric, the performance of the communications and digital economy sector under Tijani raises deeper concerns. With him at the helm, critical national digital assets have hardly inspired confidence. Around this time last year, the website of the National Bureau of Statistics (NBS) was hacked and remained largely non-functional for weeks. For a country preaching digital transformation, such a lapse was embarrassing. Yet, accountability from the minister’s office was conspicuously absent. Olalekan Adigun, Abuja, adgorwell@gmail.com

T H I S D AY • FRIday dECEMBER 19, 2025

Politics

Acting Group Politics Editor DEJI ELUMOYE Email: deji.elumoye@thisdaylive.com 08033025611 sMs OnLY

As Saraki’s Footprints Continue to Shape Political Landscape... Wahab Oba in this report eulogises former two-time Governor of Kwara State and Eighth President of the Senate, dr Bukola Saraki, as he clocks 63.

ecember 19 once again presents an opportunity to reflect on the remarkable political journey of a man whose life continues to shape the socio-political direction of Kwara State and Nigeria, Dr. Abubakar Bukola Saraki. He remains one of the few leaders whose influence transcends political tenure, whose relevance deepens with time and whose legacy continues to produce opportunities and platforms for others. Saraki stands out not only for his achievements but for the depth of intelligence he brings into leadership. It is still widely referenced that during his time as Senate President, he demonstrated uncommon mastery of the legislative environment when he introduced members of the Eighth Senate before former President Muhammadu Buhari, extempo, by names, states and constituencies, without hesitation or error. That moment projected professionalism, capacity, and an extraordinary grasp of parliamentary responsibility. Yet one of his most defining legacies as Senate President was his courage in defending the institution of the legislature from executive intimidation. At a time when pressure mounted on the National Assembly to compromise its independence, Saraki stood firmly with the Nigerian people. He refused to allow the Senate to be reduced to an appendage of the executive. Under his leadership, the Eighth Senate reclaimed its dignity, asserting legislative independence, strengthening democratic checks and balances, and reinforcing the doctrine of separation of powers. Many still recall how he resisted political harassment, court raids, and institutional blackmail, yet never wavered. In doing so, he gave the Senate integrity and restored public confidence in the legislature as a co-equal arm of government. Working closely with him reveals even more. When he gives an assignment, he already has a clear mental architecture of what he wants achieved. He does not pass tasks casually; he provides guidance, direction and expected outcomes. His leadership style reflects clarity of thought and firmness of conviction. Saraki is strong-willed, focused, and not obstinate, and he confronts challenges directly rather than sidestepping them. His response to crisis has consistently been to take responsibility, not to shift blame. Even in infrastructural development, he demonstrated unusual involvement. Though he awarded contracts for design and building plans for the Kwara State University, Aviation College, and Ilorin Airport wet station, he was practically the chief designer. He moderated structural and functional components almost personally, ensuring that each institution reflected both immediate needs and future expansion. Those involved in those processes can testify that he was never a passive approver; he interrogated designs, adjusted projections, and insisted on architectural and utility precision beyond the ordinary. His depth of emotional intelligence is equally remarkable. There was a time when a columnist repeatedly published provocative and outright false allegations, including claims that Saraki wanted to sell the Emir’s Palace and dispose of the Eid-Prayer ground. Offended by these spurious allegations, he contemplated legal action. Yet, when counseled, particularly mindful of his status as the Wazirin Ngeri of the Emirate, he listened, refrained from litigation, and allowed the matter to dissolve naturally. That was the end of it. The writer was neither arrested nor intimidated. Under Saraki, no journalist was detained, summoned, humiliated, or victimised for doing their professional job. Issues were countered with facts, not intimidation. Criticism was absorbed, not criminalised. That remains one of the strongest testaments to leadership built on security of mind and maturity of character. Saraki’s rare confidence also manifests in unusual situations. During turbulence in flight, he would calmly walk to the cockpit, engage the pilots and offer advisory suggestions from

an informed perspective. His knowledge of aircraft dynamics, beyond what a typical traveler possesses, continues to surprise many. His mental depth cuts across religion, aviation, economics, agriculture, governance and human psychology. Even as governor, Saraki learned and

recited the Holy Qur’an proficiently. It was not ceremonial; it was deliberate. He devoted hours, privately, to mastering recitation. The depth of this religious commitment never interfered with his political responsibilities; instead, it shaped his humility, resilience and decision-making.

Saraki recognises loyalty and rewards it. Many whose lives advanced through his intervention, politically or professionally, remain living witnesses. He produced not only a two-term governor but ministers of the Federal Republic, chairmen of national institutions, and principal officers of a ruling party, including its Chairman, Legal Adviser, and National Publicity Secretary. Such outcomes were purposeful, not accidental. His respect for traditional authority remains distinguishing. When a proposed increase in tertiary institution fees was once contemplated, a single counsel from the Emir of Ilorin ended it. He listened, not out of weakness, but because he valued consensus over confrontation. Saraki governed without intimidation and exited without bitterness. He empowered individuals to rise on their own merit, not merely within his orbit. Though not holding any national public office today, his relevance remains stronger than many who vanished from prominence shortly after leaving power. Influence built on substance does not expire. Like every human being, Saraki has his shortcomings, no leader is flawless, but his imperfections remain within human limitations and never overshadow his contributions. What endures is a record of courage, loyalty, clarity of purpose, fairness in opportunity-sharing, and an unwavering willingness to invest in others. He remains one of the boldest leaders of his generation, strategic, deeply thoughtful, courageous in direction, and generous in responsibility. He leaves behind structures, not silos; empowered individuals, not dependent followers; bridges, not barriers. Today, I join millions at home and abroad in celebrating this exceptional political figure of our time; super intelligent, impactful, and proudly Kwara. Happy birthday, Waziri Ngari, Ilorin Emirate, and Turakin Raya Kaza, Borgu. -Oba writes from Ilorin, Kwara State capital.

Olawepo-Hashim Warns against Nigeria Becoming a One-Party State a Chieftain of the main opposition People’s democratic Party, Gbenga Olawepo-Hashim, has canvassed against moves to turn the Nigerian nation into a one party state ahead of the 2027 general election.

ormer presidential candidate, Gbenga Olawepo-Hashim, has declared that he is not intimidated by either legal or political manoeuvres aimed at weakening the Peoples Democratic Party (PDP), insisting that Nigeria’s multiparty democracy is too deeply rooted to be destroyed. In a strongly worded statement issued in Abuja, Olawepo-Hashim said he was “not intimidated by the legal and political subterfuges sponsored by the ruling APC”, stressing that no individual or party can monopolise power in Nigeria. According to him, Nigeria has historically embraced pluralism as a tool for managing its diversity, noting that the nation’s founding fathers deliberately chose a multiparty system at independence. His words “Nigeria has always been committed to multiparty democracy, Even in the First Republic, political power was never concentrated in the hands of one man or one party.” He recalled that despite the towering influence of Sir Ahmadu Bello as leader of the Northern People’s Congress, other political forces such as Aminu Kano’s NEPU, J.S. Tarka’s Middle Belt Congress, and Sir Kashim Ibrahim’s Borno People’s Union coexisted with significant influence and representation. Olawepo-Hashim noted that similar

political diversity thrived in the South West, where the Action Group competed with the NCNC, alongside regional parties such as the Ibadan People’s Party. “Our democracy has never been a democracy of one star flying in its firmament,” he said. “In our sky are thousands of stars.” Going down memory lane, the PDP presidential aspirant likened the current political climate to the failed self-succession agenda of late military ruler, General Sani Abacha, who attempted to impose himself as the sole presidential candidate of all five registered political parties at the time. “We are living witnesses to the failure of

that plot,” he said, warning that although today’s situation carries “a more sinister twist,” the outcome would be no different. “While Abacha sought to make himself the sole candidate of all parties, the current agenda is to ensure that no major party is strong enough to field a credible candidate,” Olawepo-Hashim stated. Expressing confidence that such efforts would collapse, he stressed that, “just as the Abacha plot ended unrealised, this infantile machination will end in disaster for its authors, by the grace of God.” Olawepo-Hashim also recalled his personal involvement in the struggle against military rule, emphasising that the resistance was led from within Nigeria, not from exile. “We fought the self-succession plot here at home, not as self-styled exiled democrats sipping cognac in foreign embassies,” he said. He revealed that he was part of the internal resistance delegation present at Fort IBB on June 8, 1998, during a critical moment in Nigeria’s history, even as heavy military movements threatened the nation’s future. Olawepo-Hashim expressed firm belief that history would repeat itself saying “the same God who granted us the grace to witness the collapse of the Abacha plot will also help us see the end of the APC-or-no-other-party agenda”.

FRIDAY, DECEMBER 19, 2025 • T H I S D AY

L-R: (standing) Members of the ISACA, Lagos State chapter Board of Directors, Adesina Shodeinde (Government and Regulatory Advocacy); Dr. Nduka Moseri (Information and Branding); Obiageli Chiaghanam (Marketing);Fiyinfoluwa Bamigbola (Research and Technical); Solomon Adebayo (Treasurer), Onyekachi Okoye (Education). L-R (sitting) Olamide Oshikoya (Financial Secretary);Ifeoma Ugwu (General Secretary);Justus Osuji (ISACA Lagos President); Yewande Ojikutu (Vice President, ISACA Lagos Chapter); and Michael Ojih (Membership and Certification), during its annual GRC conference and investiture, held in Lagos…recently

L-R: Member, Cosmopolitan Women Club, Chief (Mrs.) Bola Nakpodia; Founder, CWC, Chief (Mrs.), Onikepo Oshodi; Chairman, Kosofe Local Government Area, Hon. Moyo Ogunlewe; President, CWC, Dame Marie Fatai -Williams; Rotarian Bala Yusuf; and Hon Christiana Kuboye of Kosofe LGA, during the Cosmopolitan Women Club of Lagos 20th anniversary Food Bank Outreach held at Kosofe LGA, Lagos...recently

President, Indian Cultural Association in Nigeria, Chief Sanjay Jain (middle); member of Voice Achievers Award LOC, Mariam Ohanmu; and Chief Executive Director, Trevent Limited, Mr. John Odiboh (right), when Jain received the African Leadership Excellence Award 2025 by the Voice Achievers Award, held at the Eko Hotels in Lagos…recently

L-R: Vice President, Yewa (Egbado) College Old Students Association (YECOSA), Mrs. Olasumbo Oke; Chairman, Lagos chapter, YECOSA, Capt Adewale Ishola; Chairman, 75th Anniversary Planning Committee, Alhaji Malik Adelowo; National President, YECOSA, Olaniyi Dasaolu; and former Vice Chancellor, University of Lagos, Prof Rahman Bello, at a press conference to flag off their 75th anniversary and N20 million Endowment Fund for YECOSA, held at the Lagos State Public Service Club, GRA, Ikeja, Lagos…recently

L-R: Author of two books, ‘Built to Last’, and ‘The Thriving Couples: Essentials You Need To Know’, Rev Dr. Joseph Okonmah; his wife, Shalom Okonmah; cleric, Rev Silver Asuwata; former President, Nigeria Institute of Public Relations (NIPR), Prof. Rotimi Oladele; former Special Adviser on Media to President Muhammadu Buhari, Mr. Femi Adesina; and his wife, Adenike Adesina, at the official presentation of the two books and the 15th anniversary celebration of Covenant Marriage Counsellors founded by the author, held at the Banquet Hall of the Lagos Airport Hotel, Ikeja...recently

L-R: Managing Director, FirstCap Limited, Ukandu E. Ukandu; Founder/CEO, Pathway Advisory Limited, Alade Adekunle; Chief Executive Officer, Veritasi Homes and Properties Plc, Adetola Nola; Partner and Head of Communications, Veritasi Homes and Properties Plc, Tobi Yusuff; and Head of Capital Markets, FirstCap Limited, Oluseun Olatidoye, at the Veritasi Homes and Properties Plc Commercial Paper Signing ceremony, held in Lagos... recently

T H I S D AY • FRIDAy, DECEmbER 19, 2025

BUSINESSWORLD R A T E S

MONEY MARKET

A S

A T

REPO

Group Business Editor Eromosele Abiodun Email oriarehu.eromosele@thisdaylive.com

08056356325, 07034471123

D E C E m b E R

S & P INDEX

1 8 , 2 0 2 5

S & P INDEX

EXCHANGE RATE

OPR

25.34%

CALL

23.25%

INDEX LEVEL

595.26

1/4 TO DATE

0.24%

N1,460.15/ 1 US DOLLAR*

OVERNIGHT

25.18%

1-MONTH

21.37%

1-DAY

0.10%

YEAR TO DATE

-10.99%

*AS AT THUR, DEC. 18, 2025

3-MONTH

22.41%

MONTH-TO-DATE

0.24%

Insider Source Exposes Alleged Regulatory Inefficiency at NCAA with Records of Major Incidents Involving Private Jets

Chinedu Eze Dissatisfied with the activities of the Nigeria Civil Aviation Authority (NCAA), former officials of the Directorate of Airworthiness Standards (DAWS) of the NCAA have made some documents public, exposing the various compromises taking place in the directorate. Such activities, former officials who raised the alarm said, may jeorpardise safety in Nigeria’s airspace, if urgent intervention was

not put in place. This is coming as the Nigeria Safety Investigation Board (NSIB) on December 14, 2025 and December 16, 2025 respectively, issued reports indicating major aircraft incidents involving unscheduled aircraft. According to the reports, Hawker 800XP with eight persons onboard, crash landed at the Mallam Aminu Kano International Airport, Kano; and a Cessna 172 aircraft also crashed on approach at the Sam Mbakwe International

Cargo Airport, Owerri, but none of the four persons onboard the aircraft was hurt. DAWS in a Civil Aviation Authority (CAA) ensures civil aircraft are safe and meet high standards by overseeing certification, maintenance, and ongoing compliance with the International Civil Aviation Organisation (ICAO) rules, handling aircraft registration, issuing Certificates of Airworthiness, approving Maintenance, Repair and

Overhaul (MROs) and developing technical standards to keep aircraft airworthy throughout their life, and also ensuring reliability for flight operations. The former staff of DAWS who are still working in the industry, alleged that the officials in charge of the directorate have compromised the standards by issuing certificates to Aircraft Maintenance Organisations (AMOs) authorising them to conduct maintenance on aircraft that

operate in Nigeria without adequately auditing the facilities, insisting that this has led to some aircraft not properly maintained before they are certified airworthy and released for flight operations. In reaction, the Minister of Aviation and Aerospace Development, Festus Keyamo, who confirmed access to the documents, has launched investigation into the allegation and said that he would make the results of the investigation public.

The minister, who spoke to THISDAY, expressed worry that since the documents have been in the public space, concerned authorities have not reacted to the allegations, saying that his ministry is conducting comprehensive investigation into the matter, insisting that, as the Minister of Aviation, he cannot allow anything that will threaten air safety under his watch. The story continues online on www.thisdaylive.com

Report: Investment in Renewable Energy Sector Hits $250M from $90M Oluchi Chibuzor

An impact report by All On has revealed that investment in Nigeria’s renewable energy sector has hit $250 million from $90 million between 2018 and 2025. The huge investment outlay, the report said, has significantly impacted over 1million lives transformed through clean energy access. Speaking at the release of its Impact Evaluation Report 2025, CEO of All On,

Caroline Eboumbou, stated that the report confirms that their approach is working. She noted that by combining patient capital, technical assistance, and ecosystem support, they have unlocked scalable, sustainable energy solutions for Nigeria’s unserved and underserved communities. She explained that when All On entered the market in 2016, nearly half of Nigeria’s population lacked electricity, and the sector faced a staggering 92

percent annual funding gap. According to her, “Against this backdrop, All On adopted a risk-tolerant approach that combined catalytic investments, innovative financing mechanisms, and ecosystembuilding strategies to accelerate progress toward universal energy access. “Over the evaluation period, from 2018 – 2024, All On invested in more than 50 businesses and supported, through grants and technical assistance,

more than 80 businesses, enabling them to connect over 230,000 households, businesses, and facilities to energy.” These interventions strengthened the operational capacity of energy providers and improved affordability and reliability for end users, the report noted. However, according to the report, cleaner energy solutions have delivered tangible social and environmental benefits, with half of households

reporting improved air quality, enhanced safety, and reduced noise pollution, contributing to better health outcomes and environmental sustainability. The report highlights the success of All On’s holistic support model, which integrates tailored due diligence, deep sector knowledge, and ecosystem engagement. Speaking further, Eboumbou said this approach has positioned All On as a trusted partner

capable of driving both business growth and systemic change. “Innovative instruments such as the Demand Aggregation for Renewable Technology (DART) program have amplified impact by reducing procurement costs of supported businesses by up to 50 percent, enabling developers to scale efficiently and pass savings on to energy consumers.

The story continues online on www.thisdaylive.com

M a r k e t d ata a s at t h u r s d ay, d e C e M b e r 1 8 , 2 0 2 5 BONDS DESCRIPTION Price ^16.2884 17mAR-2027 ^19.94 20mAR-2027 ^13.98 23FEb-2028 ^21.00 20mAR-2028 ^14.55 26APR-2029

99.30 103.24 94.73 107.26 105.58

Change Updated Time (%) 0.00 December 16.86 18, 2025 16.87 0.06 December 18, 2025 16.93 -0.06 December 18, 2025 16.94 -0.01 December 18, 2025 17.00 -0.15 December 18, 2025

Yield

BILLS MATURITY NTb 8-Jan26 NTb 5-Feb26 NTb 5-mar26 NTb 9-Apr26 NTb 7-may26

Discount Yield

MATURITY EULL CP IX 18-JAN-26 SKIS CP XV 23-JAN-26 VAAG CP XII 2-FEb-26 DANC CP XXI 11-mAR-26 NEVE CP II 3-APR-26

15.61

15.75

-0.01 December 18, 2025

15.15

15.46

-0.01 December 18, 2025

15.19

15.69

15.62

16.41

15.76

16.77

CLEARED NAIRA-SETTLED NDFS

CPS

Change (%) Updated Time

-0.01 December 18, 2025 0.00 December 18, 2025 -0.01 December 18, 2025

Discount Yield

Change (%)

Updated Time

21.59

22.00

0.00 December 18, 2025

21.93

22.42

0.00 December 18, 2025

22.39

23.04

0.00 December 18, 2025

18.02

18.78

-0.01 December 18, 2025

18.86

19.95

-0.05 December 18, 2025

CONTRACT Current TENOR Contract Rate ($/₦) (MONTH) NGUS DEC 13m – 30 2026 NGUS JAN 14m – 27 2027 NGUS FEb 15m – 24 2027 NGUS mAR 16m – 31 2027 NGUS APR 17m – 28 2027

Updated Time

December 18, 2025 December 18, 2025 December 18, 2025 December 18, 2025 December 18, 2025

FRIDAy, DEcEmBER 19, 2025 • T H I S D AY

BUSINESSWORLD

AIR WAtch

FAAN Reinforces Security, Customer Service at Airports

Chinedu Eze

The Federal Airports Authority of Nigeria (FAAN) has said it has stepped up measures nationwide to ensure smooth passenger movement during the Yuletide, despite increased traffic and on-going airport upgrades. FAAN’s Director of Public Affairs and Consumer Protection, Henry Agbebire, said the authority anticipated the seasonal surge, especially in Lagos where the old

International facility, known as Terminal One is undergoing repairs. He noted that additional customer service staff members putting on ‘Ask Me’ jackets, have been deployed, while security has been reinforced, particularly at arrival and pick-up points. Agbebire said FAAN would work closely with the Nigeria Customs Service, the Nigeria Immigration Service and other security agencies to provide seamless and welcoming experience

for travellers, including Nigerians returning from the diaspora. According to him, extra security personnel have been deployed in Lagos to manage crowd control and traffic flow, with similar measures in place at airports across the country. While acknowledging that construction work and airline delays might cause occasional inconveniences, he assured passengers that FAAN remains committed to minimising disruptions.

A i r WAtCh Support for Governments’ Investments in Aviation

FG Hits 100,828 Emails on GOVMail

Olawale Ajimotokan in Abuja

The federal government has disclosed that the civil service digitilisation drive is already producing visible evidence with official email accounts on GOVMail as at yesterday put at 100,828. The Head of Civil Service of the Federation Didi Esther Walson-Jack disclosed this yesterday in Abuja at the Paperless Civil Service Gala and Awards Night organized to celebrate excellence, innovation, and the collective progress made towards the digitalisation of processes.

She said the push had secured government communication at scale, strengthening sovereignty over official correspondence, improving responsiveness, and saving the government billions of naira previously spent on external licences. “Let me emphasise, clearly and strongly: todays celebration is about the digitalisation of work processes. There is still so much more to do, the OHCSF is already moving ahead that is why we have come up with the following digital initiatives.

Our world-class ServiceWise GPT trained on the Constitution, Public Service Rules, statutory regulations, circulars, and other official instruments has recorded over 25,000 chats, enabling faster access to authoritative guidance for public servants and the general public. “The Online Compendium of Federal Circulars, with thousands of searches and downloads, has ended the frustrating hunt for “the right circular,” strengthening consistency and transparency in decision-making.”

LFZ Wins ‘Best in Environmental Stewardship’ Award

Lagos Free Zone (LFZ), a leading industrial and commercial hub in Nigeria, has won the esteemed ‘Best in Environmental Stewardship’ award at the 2025 Sustainability Enterprise and Responsibility Awards (SERAS), held on Saturday, November 29, 2025, at the Oriental Hotel, Victoria Island, Lagos. Commenting on the recognition, Managing Director/Chief Executive Officer, Lagos Free Zone, Adesuwa Ladoja, noted

that the award reflects LFZ’s industry-leading commitment to building a sustainable industrial ecosystem anchored on responsible resource management, climate-conscious infrastructure, robust environmental governance, and community-centred stewardship initiatives. Ladoja added that the award underscores Lagos Free Zone’s long-term vision of creating an environmentally resilient and globally competitive industrial hub.

“This award is an important validation of our unwavering commitment to environmental excellence. At Lagos Free Zone, sustainability is embedded in the very foundation of our operations, from our green infrastructure and circular waste management systems to our renewable energy drive and biodiversity preservation programmes. We are deeply honoured by this recognition from SERAS, and it inspires us to continue raising the bar in environmental responsibility.

Keyamo Leads FG’s Team to Inspect Uyo Airport The Minister of Aviation and Aerospace Development, Festus Keyamo, led a highpowered Federal Government

Group Business Editor Eromosele Abiodun Deputy Business Editor chinedu Eze Comms/e-Business Editor Emma Okonji Asst. Editor, Energy Emmanuel Addeh Asst. Editor, Money Market Nume Ekeghe Correspondents Kayodetokede(CapitalMarkets) James Emejo (Finance) Ebere Nwoji (Insurance) reporter Peter Uzoho (Energy)

Technical Committee on an on-the-spot inspection of facilities at the Victor Attah International Airport, Uyo, as part of the on-going process to upgrade the airport to full international status. The inspection exercise, coordinated under the leadership of the minister, had a delegation comprising the Permanent Secretary, Ministry of Aviation and Aerospace Development, Dr. Yakubu Adam Kofarmata; Director General of the Nigerian Civil Aviation Authority (NCAA), Capt. Chris Najomo; Director, Air Transport Management, Ministry of Aviation and Aerospace Speaking after the inspection, Governor Umo Eno commended the minister for his drive and commitment towards expediting the

airport’s upgrade. He reaffirmed the readiness of the Akwa Ibom State government to cooperate fully and work with the technical guidance of the visiting aviation stakeholders to actualise the vision of operating the first international flight from Victor Attah International Airport by April 1, 2026. In his remarks, the minister disclosed that a technical committee had already been constituted to ensure prompt and efficient delivery of the project. He further directed that members of the committee should mobilise to site from the first week of January 2026 to assiduously fast-track all outstanding actions towards the successful upgrade of the airport to full international operations.

Chinedu Eze

Nigerian government can reduce the cost levied on airlines, or the services Many state governments have they provide to the airlines, I am sure built cargo airports and some have that the cost of tickets will come down established airlines to kick off aviation a bit, apart from the fact that demand development in their states, a move and supply play their own roles. “Our appeal, however, is for that will boost Nigeria’s economy. Recently, the Group Managing government to see how we can reduce Director (GMD) of Finchglow the taxes and levies on passengers, Holdings, Mr. Bankole Bernard, spoke I won’t say on the airlines, because to aviation journalists and explained the airlines are just consuming it on why such development is desirable behalf of the passengers. They are not just going to absorb the cost, they are to the industry now. Bernard explained that state government going to pass it on the goods they are establishing airlines was desirable because selling. And part of the reason why the it would make more aircraft available, cost is that high is that we have some which means there would be more seats airports that they are not generating to sell that would meet the demands of enough revenue. I am talking about federal government owned airports. air travellers. He said the reason why air ticket We have 26. Every state now wants to remained high was because of the have an airport. It is a capital project. principle of demand and supply, I won’t say it’s a bad idea, don’t get it noting that if there are more aircraft wrong. I think it’s a fantastic idea, if seats available the demand will be met, the purpose is well fulfilled; it is not a which will compromise the high fares. problem. They will make money. Just Finchglow Group GMD dismissed let it be a business venture. Government insinuations that the establishment of is not in the business of running any airlines by state governments may not business,” he said. Bernard commended state governments be successful in the long term because government is not good in business. that have invested in airlines, saying that But he said that the state government it is a good investment if the benefits that have established airlines so far, will be maximised because it will create selected the best professionals to run jobs for the citizens of the state, insisting the businesses and they are managing that establishing such business is better than exporting such funds, which in the the airlines very well. On the high fares, he advised that past, stretched the foreign exchange and government, its agencies and the airlines weakened the naira. But investing in should meet and review the fares, look airline means that the money is invested at the taxes and see how government to create jobs for the people. “Let them create job opportunity for could review downwards some of the taxes imbedded in the ticket cost so that their state. Is it sustainable? That is a story for another day. Let us see them the fares can come down. “Let’s be honest with ourselves. When create something. When they cannot you look at a ticket that is N1,000, just sustain it, maybe they will give it to a to be able to analyse it, I want to say consultant that would then manage it to you that N45 goes to charges. So, for them. The last time I got into Ibom the airline is just collecting on behalf Air, they had the new A220, brand new of everybody. The N1,000 is not what aircraft. It was looking very clean. I said, goes to the airline. No. Only N550 goes thank God now, even if individuals can’t to the airline, while the remaining N450 afford the brand-new aircraft, at least will be shared among the Nigeria Civil with the money coming from the state, Aviation Authority (NCAA), Federal they can do that. Do you understand? Airports Authority of Nigeria (FAAN), And if they are buying new aircraft, it and Nigeria Safety Investigation Bureau is still better than them buying aircraft (NSIB). So, when you really look at it, that is 30 years old you see that those are the things putting the story continues online on pressure on the cost of tickets. If the www.thisdaylive.com

T H I S D AY • FRIday, dECEmbER 19, 2025

bUSINESSWORLd

baNKING

Wema at 80: Legacy of Stability, Growth, Long-term Returns for Shareholders

At 80, Wema Bank represents stability, capability, and sustained value for shareholders, writes Kayode Tokede

Executive Directors, Wema Bank, Segun Opeke; Kayode Bakare; Independent Non-Executive Director, Bolarin Okunowo; Company Secretary, Johnson Lebile; Chairman Board of Directors, Oluwayemisi Olorunshola; MD/CEO, Moruf Oseni; Independent Non-Executive Director, Ibiye Ekong; Deputy Managing Director, Oluwole Ajimisinmi and Executive Director, Tunde Mabawonku, at the Wema Bank 2024 Annual General Meeting

ema Bank recently marked a defining moment in Nigeria’s financial services industry with the celebration of its 80th anniversary, an achievement attained by very few institutions in the country’s banking history. Wema at 80 represents more than longevity; it reflects eight decades of continuous operation, resilience through economic cycles, and the ability to remain relevant in an industry shaped by constant change. For shareholders and investors, this milestone underscores the strength of an institution that has not only survived regulatory reforms, market disruptions, and economic volatility, but has consistently created value while positioning itself for future growth. The celebration of Wema Bank’s 80th anniversary therefore stands as a clear affirmation of stability, foresight, and sustained returns for those who have entrusted their capital to the Bank over the years. For shareholders, Wema Bank’s journey over the past eight decades illustrates how long-term strategic consistency translates into enduring value. Founded in 1945 at a time when indigenous banking was limited, the Bank steadily built a reputation for reliability, adaptability, and customer trust. This foundation enabled Wema Bank to navigate multiple economic reforms, policy changes, and industry disruptions while preserving shareholder interests. Over time, the Bank evolved from focusing on survival and continuity to driving profitability, scale, and market relevance. Today, this progression is evident in its expanding balance sheet, growing earnings base, and strengthened capital position, outcomes that directly reflect management’s commitment to safeguarding and enhancing shareholder value. The past few years in particular have crystallized this transformation. The Central Bank of Nigeria’s recapitalization directive introduced one of the most defining tests the banking sector has witnessed in recent years. While many institutions sought mergers, acquisitions, or extensive public offers to meet their capital requirements, Wema Bank chose a path that reflected not only corporate confidence but also investor trust. The Bank turned to its existing shareholders in a Rights Issue exercise that was as bold as it was strategic. This decision came on the shoulders of a forward-thinking action taken months before the directive was announced. Wema Bank had executed a N40 billion Rights Issue in

2023, which secured approvals from both the Central Bank of Nigeria and the Securities and Exchange Commission in 2024. With N27 billion already raised, the Bank strengthened its capital base early, elevating it to N67 billion and establishing momentum long before the industry-wide scramble for capital began. The rights issue was followed by a year of exceptional financial performance. In 2024, Wema Bank delivered its strongest earnings in history, reporting Gross Earnings of N432.34 billion, a growth of 91.51 percent from N225.75 billion the previous year. Profit Before Tax rose by 135.16 percent to N102.51 billion from N43.59 billion in 2023, while Profit After Tax surged by 140.13 percent to N86.29 billion from N35.93 billion. Total Deposits climbed to N2,523.82 billion, up 35.65 percent from N1,860.57 billion in 2023. Total Assets rose remarkably by 60.04 percent, reaching N3,585.05 billion compared to N2,240.06 billion the previous year. The Bank’s Non Performing Loan ratio improved to 3.86 percent, further affirming the robustness of its risk management structures. Its earnings per share stood at 483.2 kobo, giving shareholders a clear indication of the Bank’s upward trajectory and profit-generating capacity. Amid these remarkable results, Wema Bank opened the second tranche of its recapitalization plan in April 2025, a N150 billion Rights Issue that closed in May 2025. The response was resounding, with shareholders oversubscribing. The Bank complemented this exercise with a planned N50 billion Private Placement. With the Rights Issue now approved by regulators and total qualifying capital standing at N217 billion, Wema Bank surpassed the N200 billion capital requirement for national banks more than six months ahead of the March 2026 deadline. For investors, this early compliance holds deep significance. It signals financial strength, disciplined planning, regulatory foresight, and the ability to mobilize capital through a shareholder base that firmly believes in the institution’s long-term potential. It is rare for a financial institution to depend solely on its existing investors to meet such a substantial capital requirement, and even rarer for those investors to respond with emphatic support. It is a demonstration of confidence that can only

be earned through years of consistent performance and trust building. Investor confidence has also been reinforced by market performance. Wema Bank’s stock has become one of the strongest performing equities on the Nigerian Exchange. According to Nairametrics, the Bank’s shares appreciated by 139.56 percent year to date as of September 12, 2025, surpassing both the NGX All Share Index and the NGX Banking Index. This rally follows a 171 percent growth in 2024 and a 47 percent appreciation in 2023, solidifying Wema Bank’s position as a standout performer for value-seeking investors. This market confidence was further reinforced recently by Wema Bank’s inclusion and ranking on the Nigeria Megacorp Index 100, where it secured the 31st position among the country’s highest earning corporations. Compiled by Nairametrics, the NMX 100 recognises companies generating over N100 billion in annual revenue, based strictly on audited financial statements across sectors such as banking, telecommunications, oil and gas, FMCG, and manufacturing. Wema Bank’s placement on this index reflects its expanding scale, growing earnings capacity, and strengthening market position within Nigeria’s corporate landscape. For shareholders, this recent recognition provides independent validation of the Bank’s financial strength, disciplined execution, and sustained performance, reinforcing its status as a stable investment with long-term value creation potential. Global and continental rating agencies have echoed this sentiment. Agusto and Co upgraded Wema Bank’s credit rating from BBB plus to A and revised its outlook from stable to positive, citing improved profitability, strong liquidity, and enhanced operational efficiency. Fitch Ratings upgraded the Bank’s National Long-Term Rating to A (nga) from BBB (nga) and affirmed its Long-Term Issuer Default Rating at B minus, reflecting the strength of the Bank’s fundamentals. GCR Ratings upgraded Wema Bank’s national scale long-term and short-term issuer ratings to BBB plus (NG) and A2 (NG), respectively, with a stable outlook. These upgrades, particularly coming from institutions that benchmark performance against global standards, are independent

confirmations of stability, creditworthiness, and upward momentum. Beyond these financial achievements and regulatory milestones, Wema Bank’s growth trajectory is increasingly anchored by ALAT by Wema, Africa’s first fully digital bank, launched in 2019 as a strategic response to evolving customer expectations and digital disruption. ALAT by Wema serves as the foundation of the Bank’s product ecosystem, delivering seamless digital banking while driving customer acquisition, engagement, and transaction volumes at scale. Built to integrate banking with everyday financial and lifestyle needs, ALAT by Wema has evolved beyond basic account services to support savings, investments, payments, credit, and digital commerce. This platform has since enabled the expansion of complementary solutions including ALAT by Business for SMEs, ALATPay for merchant collections, CoopHub for cooperative finance, and ALATXplore for youth banking. Together, these offerings strengthen Wema Bank’s digital leadership, expand its addressable market, and reinforce a long-term strategy focused on sustainable earnings growth, customer lifetime value, and shareholder returns. For investors, this blend of heritage and modernity is a compelling value proposition. It means the institution has mastered both endurance and evolution. It also means that the Bank understands the future of banking as a fusion of physical reach, digital depth, customer insight, and technological agility. Within this context, Wema Bank at 80 is not just a celebration of years served but a reflection of strategic evolution. The Bank’s ability to continuously innovate, integrate, and expand its suite of products speaks to its commitment to leading Nigeria’s financial services industry into the future. For investors, this means aligning with a bank that has consistently anticipated market needs, embraced digital transformation early, and translated innovation into measurable financial outcomes. The significance of Wema Bank at 80 for investors therefore lies in this convergence of history, performance, capital strength, product innovation, and market validation. The Bank has proven its ability not only to generate strong earnings but also to sustain growth across periods of volatility.

The story continues online on www.thisdaylive.com

FRIday, dECEmbER 19, 2025 • T H I S D AY

bUSINESSWORLd

NEWS

ATCON-REGULATOR FORUM…

L-R: Director, Strategic Business Development, ipNX, Mr. Olusola Teniola; President, Association of Telecoms Companies of Nigeria (ATCON), Mr. Tony Izuagbe Emoekpere; Executive Commissioner, Technical Standards, Nigerian Communications Commission (NCC), Mr. Sunday Abraham Oshadami; and Group Managing Director, VDT Communications Limited, Mr. Biodun Omoniyi, during the Minister, Regulator and Telecoms Executives’ Forum 2025, organised by ATCON in Abuja… recently

Olajide: African Regional Integration Key to Economic Prosperity

Stories by Raheem Akingbolu

Chairman of Cavista Holdings and Corporate Council on Africa, Niyi John Olajide, has called on African leaders to close ranks and create enabling business environments that facilitate cross-border investment and economic integration across the continent. Speaking as Special Guest of Honour at the 10th Anniversary Chieftaincy Installation ceremony of Ghanaian President, John Mahama as Aare Atayeto Oodua, at the Ooni of Ife’s Palace in Osun State, Olajide emphasised that Africa’s

economic future depends on nations moving beyond rhetoric to establish practical frameworks for regional cooperation and private sector growth. The historic ceremony, hosted by His Imperial Majesty, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, saw Ghana’s President John Dramani Mahama conferred with the chieftaincy title of Aare Atayese of Oodua. The event drew former President of Botswana Mokgweetsi Eric Masisi, Aliko Dangote, the Emir of Kano Alhaji Ado Bayero, and other prominent African leaders and business figures. Olajide argued that Africa’s

1.4 billion people and combined GDP of over $3 trillion remain underutilized due to fragmented markets and restrictive cross-border business policies. “Nigeria’s prosperity is inextricably linked to

Ghana’s success. Progress in one African nation creates opportunity across the continent,” Olajide stated. “We must eliminate bureaucratic obstacles that discourage regional investment and make it easier for African businesses

to operate across our borders.” The Chairman specifically commended business leaders like Dangote who have expanded investments across African borders, demonstrating the viability of pan-African enterprise.

Olajide challenged African governments to move beyond declarations to concrete action—streamlined regulations, transparent investment frameworks, reduced trade barriers, and protected property rights.

Former President of Botswana, Mokgweetsi Eric Masisi, has declared that the future of Africa is in active investment in agriculture, noting that the continent is naturally blessed to leverage the sector for prosperity and development. Masisi, who made this disclosure after he had conducted a tour of Agbeyewa Farms located in Ekiti State, called on

Nigeria’s governments and policy makers at various levels to create an enabling environment for agriculture and the agric value chain to thrive. He commended the Chairman of Agbeyewa farm, Niyi John Olajide and his team for taking the bull by the horns at the right time. He said: “Government is to provide an enabling

environment. Enabling the environment is policy-driven. It’s a legal infrastructure regulator framework and incentivization. As a government, you incentivize through tax breaks.” Chairman Cavista Holdings (parent company of Agbeyewa Farms), Niyi John Olajide said Agbeyewa would do everything that could be done to maximise the entire value

chain for cassava and create more jobs and opportunities for more people. “We are about moving into processing as we are working towards perfecting cultivation, perfecting aggregation and perfecting just everything around agric- trading. We are determined to make sure we maximize all the value addition and all the processing,” Olajide said.

The 2025 Lagos Advertising & Ideas Festival (LAIF) Creative Conference has brought together leading voices in Nigeria’s creative industry to discuss the evolving landscape of the advertising industry, resilience, and the discipline required to produce worldclass ideas. President, Association of Advertising Agencies of Nigeria (AAAN), Lanre Adisa, explained that young

creatives must adopt a mindset of craftsmanship, one that recognizes that every groundbreaking idea requires energy, sweat, and an unwavering commitment to improvement. Adisa noted that despite advancements in technology and idea-generation tools, the fundamental principles of hard work and determination still define the quality of output. In his remarks, Chairman,

Lagos Advertising and Ideas Festival Management Board, Jay Chukwuemeka, described creativity as a demanding craft that rewards those who are willing to push beyond their comfort zones, cultivate their skills, and remain dedicated to producing work that stands out in both quality and purpose. Chukwuemeka encouraged participants to adopt a mindset that embraces challenges as stepping stones

toward exceptional creative output. Speaking during a panel session titled: ‘The Anatomy of Genius: Unpacking the Human Truths and The Craft Behind Award-winning work’, CEO, X3M Ideas, Steve Babaeko stressed that creatives must be able to go above and beyond to deliver their craft to get the clients convinced, especially when they are under immense pressure.

‘Nigeria’s Agro-based Economy Holds Massive Investment Potential’

Ethiopian National Payment Switch Visits Experts Canvass Fusion of Technology into Storytelling, Creativity Firm for Skills Exchange Stories by Emma Okonji Interswitch, Africa’s leading payments and digital commerce company recently welcomed a high-level delegation from EthSwitch, the national payment switch of Ethiopia, to its Lagos headquarters for a knowledge-exchange session. The visit underscores Interswitch’s ongoing commitment to strengthening payment ecosystems across the continent through collaboration, capacity building, and shared innovation. Managing Director, Payment Processing & Switching (Interswitch Purepay), Akeem Lawal, gave a comprehensive overview of the organisation’s diverse business lines, demonstrating how Interswitch’s integrated ecosystem continues to power daily transactions, enable innovation, and support partners in driving scalable digital payment solutions. He said: “At Interswitch, we

believe that Africa’s progress is accelerated when institutions learn from one another and work together toward shared goals. Engagements like this are invaluable because they deepen interoperability, inspire innovation, and strengthen the digital foundations that power our continent’s financial ecosystem.” Chief Executive Officer, EthSwitch, Yilebes Addis, highlighted Ethiopia’s ambitions for its evolving financial system, emphasising a focus on driving innovation, expanding critical infrastructure, and enhancing ecosystem efficiency. “The insights gained from the visit to Interswitch were noted as valuable input for shaping EthSwitch’s strategic blueprint,” Yilebes said, while also welcoming the prospects for deeper collaboration with Interswitch, reflecting a shared commitment to strengthening Ethiopia’s digital payments landscape and advancing scalable, interoperable solutions across the continent.

Ajayi Foundation Launched to Boost Digital Transformation The memories of pioneer Director-General of the National Information Technology Development Agency (NITDA), late Prof. Gabriel Olalere Ajayi, were re-echoed in Lagos, when a foundation named after him was launched to further enhance Nigeria’s digital transformation drive. The foundation named as Professor Gabriel Olalere Ajayi Foundation, was launched with a memorial lecture, in honour of a man who championed the National IT Policy framework

for Nigeria between 2001 and 2004 when he was directorgeneral of NITDA. Former Chief of Defence Staff, General Lucky Irabor, who was a student of Late Ajayi, said: “Besides the various courses that he taught, he was my project supervisor, and thought with passion to raise Nigerians that would add value to Nigeria’s digital economy. I cherish you and your memories will live on.” Technology expert, Chris Uwaje, spoke about the commitment to duty of

late Ajayi. He narrated how he worked with late Ajayi when the first National IT Policy was drafted in 2002, with late Ajayi as Chairman and he was the Vice Chairman. He described late Ajayi as a man with a vision that was far ahead of his time. In his welcome address, the son of late Prof. Gabriel Ajayi, Dr. Olaniyi Ajayi, said the foundation was inspired by a man who meant different things to different people. “He valued education

with passion, and sacrificed his time, comfort, and convenience to ensure that others had the opportunity to learn through and stand on their feet,” he said. The Director General of NITDA, Kashifu Inuwa Abdullahi, who was the first keynote speaker, described late Ajayi as a renowned academic, a professor of telecommunications engineering, who brought to NITDA not just technical expertise, but a strategic passion to see Nigeria leap into the digital age.

T H I S D AY • FRIDAY, DECEMBER 19, 2025

MARKET NEWS 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 17 December 2025, unless otherwise stated.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS

AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 818 885 6757 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 604.00 610.28 51.95% Afrinvest Plutus Fund 389.76 389.76 13.25% Nigeria International Debt Fund 100.00 100.00 13.25% Afrinvest Dollar Fund 114.57 114.57 5.80% ALPHA MORGAN CAPITAL MANAGERS LTD mutualfund@alphamorgan.com Web: www.alphamorgan.com, Tel: +2347018898523 Fund Name Bid Price Offer Price Yield / T-Rtn ALPHA MORGAN BALANCED FUND 2,191.52 2,204.43 45.11% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 19.12% AIICO Balanced Fund 7.69 7.79 34.55% AIICO Eurobond Fund 100.00 100.00 7.82% Web:www.anchoriaam.com, Tel: 08166830267; 08036814510; 08028419180 Fund Name Bid Price Offer Price Yield / T-Rtn Anchoria Money Market 100.00 100.00 18.32% Anchoria Equity Fund 1.66 1.66 26.75% Anchoria Fixed Income Fund 402.31 406.98 55.68% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com info@anchoriaam.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 51.74 53.30 45.92% ARM Discovery Balanced Fund 1,040.91 1,072.29 30.95% ARM Ethical Fund 103.25 106.36 50.58% ARM Eurobond Fund 1.23 1.23 10.94% ARM Fixed Income Fund 1.37 1.37 20.46% ARM Short Term Bond Fund 1.21 1.21 17.26% ARM Shariah Fixed Income Fund 1.14 1.14 13.43% ARM Short Term Eurobond Fund 1.05 1.05 5.06% ARM Specialized Dollar Fund 1.04 1.04 4.47% ARM Money Market Fund 1.00 1.00 18.13% AVA GLOBAL ASSET MANAGERS LIMITED info@avacapitalgroup.com Web: www.avacapitalgroup.com; Tel 08069294653 Fund Name Bid Price Offer Price Yield / T-Rtn 120.13 120.13 16.20% AVA GAM Fixed Income Dollar Fund 1,259.51 1259.51 18.01% AVA GAM Fixed Income (Naira) Fund 1.00 1.00 16.24% AVA GAM Money Market Fund AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn 0.00 0.00 0.00% AXA Mansard Equity Income Fund 0.00 0.00 0.00% AXA Mansard Money Market Fund CAPITAL EXPRESS ASSET AND TRUST LIMITED info@capitalexpressassetandtrust.com Web: www.capitalexpressassetandtrust.com; Tel: +234 803 307 5048 Fund Name Bid Price Offer Price Yield / T-Rtn 0.00 0.00 0.00 CEAT Fixed Income Fund 0.00 0.00 0.00 Capital Express Balanced Fund(Formerly: Union Trustees Mixed Fund) CARDINALSTONE ASSET MANAGEMENT LIMITED mutualfunds@cardinalstone.com Web: www.cardinalstoneassetmanagement.com; Tel: +234 (1) 710 0433 4 Fund Name Bid Price Offer Price Yield / T-Rtn 1.08 1.08 13.57% CardinalStone Fixed Income Alpha Fund 1.11 1.11 10.62% CardinalStone Dollar Fund 1.77 1.79 49.17% CardinalStone Equity Fund 1.19 1.20 19.11% CardinalStone Balanced Fund 1.00 1.00 18.64% CardinalStone Money Market Fund CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapel Hill Denham Money Market Fund 0.00 0.00 0.00 Nigeria Bond Fund 0.00 0.00 0.00 Paramount Equity Fund 0.00 0.00 0.00 CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 17.64% 111.73 111.73 12.71% Cordros Fixed Income Fund 122.23 122.23 11.84% Cordros Halal Fixed Income Fund Cordros Dollar Fund ($) 118.57 118.57 7.00% Cordros Milestone Fund 229.89 231.60 24.77% CORONATION ASSETS MANAGEMENT investment@coronationam.com Web:www.coronationam.com, Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 17.44% Coronation Balanced Fund 2.10 2.13 27.43% Coronation Fixed Income Fund 1.50 1.50 9.61% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund 0.00 0.00 0.00 EDC Nigeria Balanced Fund 0.00 0.00 0.00 EDC Nigeria Halal Fund 0.00 0.00 0.00 EMERGING AFRICA ASSET MANAGEMENT LIMITED assetmanagement@emergingafricafroup.com Web:www.emergingafricagroup.com/emerging-africa-asset-management-limited/, Tel: 08039492594 Fund Name Bid Price Offer Price Yield / T-Rtn Emerging Africa Money Market Fund 0.00 0.00 0.00 Emerging Africa Bond Fund 0.00 0.00 0.00 Emerging Africa Balanced Diversity Fund 0.00 0.00 0.00 Emerging Africa Eurobond Fund 0.00 0.00 0.00 Emerging Africa Halal Fund 0.00 0.00 0.00 FBNQUEST ASSETS MANAGEMENT LIMITED invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Money Market Fund 100 100 16.83% FBN Bond Fund 1661.95 1661.95 10.96% FBN Dollar Fund 127.49 127.49 7.21% FBN Halal Fund 141.49 141.49 13.40% FBN Specialized Dollar Fund 124.29 124.29 7.50% FBN Blended Dollar Fund 420.75 424.7 42.90% FBN Balanced Fund 437.52 443.74 52.20% FBN Smart Beta Equity Fund 111.35 111.35 11.35% FCMB ASSET MANAGEMENT LIMITED fcmbamhelpdesk@fcmb.com Web: www.fcmbassetmanagement.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Money Market Fund (LMMF) 0.00 0.00 0.00 Legacy Debt Fund (LDF) 0.00 0.00 0.00 Legacy Equity Fund (LEF) 0.00 0.00 0.00 Legacy USD Bond Fund (LUBF) 0.00 0.00 0.00 FCMB-TLG Private Debt Fund 0.00 0.00 0.00 FSL ASSET MANAGEMENT LIMITED Adeniran.Daniel@fsl.ng Web: https://www.fsl.ng/asset-management ; Tel: +2348062727759 Fund Name Bid Price Offer Price Yield / T-Rtn FSL Money Market Fund 0.00 0.00 0.00 FSL Euro Bond 0.00 0.00 0.00 FIRST ALLY ASSET MANAGEMENT LIMITED blossom.omojughare@first-ally.com Web: https://first-allyasset.com/ ; Tel: +2348023217850 Fund Name Bid Price Offer Price Yield / T-Rtn FAAM Money Market Fund 1.00 1.00 21.55% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral income fund 0.00 0.00 0.00

Coral money market fund 0.00 0.00 0.00 FSDH HALAL FUND 0.00 0.00 0.00 FSDH dollar fund 0.00 0.00 0.00 Coral Balanced Fund 0.00 0.00 0.00 HILLCREST CAPITAL MANAGEMENT dabbey@hillcrestcapmgt.com Web: https://hillcrestcapmgt.com/; Tel: +2348075144540, 0214540094 Fund Name Bid Price Offer Price Yield / T-Rtn Hillcrest Balanced Fund 0.00 0.00 0.00 LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn LOTUS HALAL FIXED INCOME FUND 1,294.83 1,294.83 14.56% LOTUS HALAL INVESTMENT FUND 2.93 2.98 35.61% LOTUS HALAL EQUITY EXCHANGE TRADED FUND 57.57 63.63 87.78% LOTUS WAQF ENDOWMENT FUND 1,223.86 1,223.86 10.54% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com/funds/; Tel: +2348028496012 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 0.00 0.00 0.00 Meristem Value ETF 0.00 0.00 0.00 Meristem Growth ETF 0.00 0.00 0.00 Meristem Fixed Income Fund 0.00 0.00 0.00 Meristem Dollar Income Fund 0.00 0.00 0.00 Meristem Money Market Mutual Fund 0.00 0.00 0.00 MANGO ASSET MANAGEMENT jetadafe@mangoam.com Web:https://mangoam.com/; Tel: +234 7030839517 Fund Name Bid Price Offer Price Yield / T-Rtn Mango Naira Money Market Fund 1.00 1.00 17.27% NORRENBERGER INVESTMENT AND CAPITAL MANAGEMENT LIMITED

enquiries@norrenberger.com

Web: www.norrenberger.com, Tel: +234 (0) 908 781 2026 Fund Name Bid Price Offer Price Yield / T-Rtn Norrenberger Money Market Fund (NMMF) 0.00 0.00 0.00 Norrenberger Islamic Fund (NIF) 0.00 0.00 0.00 NORRENBERGER DOLLAR FUND (NDF)-----($) 0.00 0.00 0.00 NORRENBERGER TURBO FUND (NTF)-----(N) 0.00 0.00 0.00 PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 10.00 10.00 17.1 PACAM Fixed Income Fund 11.88 12.58 -1.90% PACAM Money Market Fund 3.49 3.56 33.47% PACAM Equity Fund 1.96 2.03 40.55% PACAM EuroBond Fund 152.83 158.89 11.75% SCM CAPITAL ASSET MANAGEMENT LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn The Frontier Fund 0.00 0.00 0.00 SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 0.00 0.00 0.00 SFS REIT 0.00 0.00 0.00 UH REIT/SFS 0.00 0.00 0.00 STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Money Market Fund Stanbic IBTC Bond Fund Stanbic IBTC Dollar Fund (USD) Stanbic IBTC Shariah Fixed Income Fund Stanbic IBTC Enhanced Short-Term Fixed Income Fund Stanbic IBTC Absolute Fund UPDC REIT Stanbic IBTC Balanced Fund Stanbic IBTC ETF 30 Fund Stanbic IBTC Ethical Fund Stanbic IBTC Guaranteed Investment Fund Stanbic IBTC Imaan Fund Stanbic IBTC Nigerian Equity Fund SIAML Pension ETF 40 Stanbic IBTC Aggressive Fund Stanbic IBTC Conservative Fund

STL ASSET MANAGEMENT LIMITED Web: WWW.STLASSETMGT.COM; Tel: 8136115170 Fund Name STL MONEY MARKET FUND STL BALANCED FUND STL DOLLAR FUND

UNITED CAPITAL ASSET MANAGEMENT LTD Web: www.unitedcapitalplcgroup.com; Tel: +234 01-6317876 Fund Name United Capital Money Market Fund United Capital Sukuk Fund United Capital Fixed Income Fund United Capital Nigerian Eurobond Fund United Capital Global Fixed Income Fund United Capital Stable Income Fund United Capital Equity Fund United Capital Balanced Fund United Capital Wealth for Women Fund United Capital Children Investment Fund VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Money Market Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund Vetiva USD Fixed Income Fund QUANTUM ZENITH ASSET MANAGEMENT & INVESTMENTS LTD Web: www.quantumzenith.com.ng; Tel: +234 1-2784219 Fund Name Zenith Balanced Strategy Fund Zenith Income Fund Zenith Income Fund Zenith Money Market Fund ZEDCREST INVESTMENT MANAGER LIMITED Web: www.zedcrestwealth.com; Tel: +2348075881240 Fund Name Zedcrest Money Market Fund Zedcrest Fixed Inocme Fund Zedcrest Dollar Fund REITS Fund Name SFS REIT UPDC REIT

0.00 259.24 1.67 143.84 160.50 5,176.09 12.39 9,629.85 837.04 4.45 383.51 923.53 41,210.22 1,127.47 12,311.09 9,290.27

0.00 259.24 1.67 143.84 160.50 5,176.09 12.39 9,720.27 837.04 4.51 383.86 934.98 41,781.31 1,127.47 12,470.86 9,325.12

16.10% 0.31% 7.07% 8.18% 18.19% 0.19% 10.33% 50.98% 104.16% -97.78% 8.37% 85.32% 62.62% 39.19%

53.73% 36.66% jemenike@stlassetmgt.com

Bid Price 0.00 0.00 0.00

Offer Price Yield / T-Rtn 0.00 0.00 0.00 0.00 0.00 0.00 unitedcapitalplcgroup.com

Bid Price 1.00 1.22 1.97 124.52 1.25 128.22 1.91 2.21 1.77 1.13

Offer Price Yield / T-Rtn 1.00 15.81% 1.22 13.83% 1.97 10.14% 124.52 9.37% 1.25 4.51% 128.22 5.46% 1.93 46.24% 2.23 31.75% 1.79 36.78% 1.13 13.05% funds@vetiva.com

Bid Price Offer Price Yield / T-Rtn 14.49 14.59 28.44% 35.41 35.51 103.49% 54.07 54.27 77.23% 1.00 1.00 17.41% 54.71 54.95 48.15% 142.48 144.48 1.95% 1.00 1.00 17.41% service@quantumzenithasset.com.ng Bid Price Offer Price Yield / T-Rtn 34.16 34.57 60.63% 40.07 40.44 50.49% 29.84 29.84 6.96% 1.00 1.00 17.52% investmentoperations@zedcrest.com Bid Price 0.00 0.00 0.00

Offer Price 0.00 0.00 0.00

NAV Per Share

Yield / T-Rtn 0.00 0.00 0.00 Yield / T-Rtn

0.00

0.00%

9,325.12

36.66%

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

T H I S D AY • FRiDAY, DeCeMbeR 19, 2025

business/MOneYGuiDe

To Capitalise on Emerging Opportunities,Waltersmith Strengthens Leadership with Board Appointments Ejiofor Alike

Waltersmith Petroman Oil Limited (WSPOL) has appointed two seasoned energy professionals as members of its Board of Directors in a strategic move to underscore its succession plan as the company continues to seek to capitalize on emerging opportunities in Nigeria’s evolving oil and gas landscape. Oladapo Filani, who has served as the company’s Chief Executive Officer since 2023, has been appointed Managing Director. Similarly, Alex Osho has been appointed as Executive Director (Finance & Commercial) following his successful tenure as CFO of Waltersmith Petroman from December 2019 to January 2023 and as the Group Chief Operating Officer since February 2023. These key appointments recognise the immense contributions of Filani and Osho to the company and their proven leadership capabilities, according to a statement issued by the Lead Adviser, External

Affairs and Government Relations, Waltersmith Petroman Oil Limited, Sarah Ajuonuma. The Board expansion comes as WSPOL continues to pursue an ambitious growth agenda focused on production optimization, portfolio expansion, and operational excellence. The new Board appointments combine deep technical expertise with proven financial and commercial acumen, against the backdrop of strong governance principles, which are essential elements for successfully navigating Nigeria’s dynamic energy sector. Commenting on the new appointments, the Board Chairman, Abdulrazaq Isa, said: “I firmly believe in the leadership potential of the company’s new leader, Mr. Filani. He has led by example and placed the company on a robust growth path over the last few years, hinged on strong technical capabilities and a can-do spirit. He will be supported by Mr. Osho, who has also been extremely influential in charting a new course

for the Company over the past few years, relying on his financial/commercial acumen, critical thinking skills, and collaborative approach”. “They have both demonstrated strong leadership, professionalism, empathy, and vision. They have also demonstrated ideation and execution capabilities over the past few years. It is with this confidence that I hand over the reins of the company to its new leaders. It is my hope that they will build upon our successes and take the Company to greater heights”. In July 2025, the company also appointed Mr. Taiwo Adeniji to its Board as an Independent Non-Executive Director. Adeniji is a distinguished development finance and infrastructure finance expert who will bring over 30 years of experience to contribute valuable independent oversight and governance expertise to the company.

Oladapo Filani- Managing Director Alex Osho – Executive Director Oladapo Filani, an accomplished petroleum engineer with over 26 years of distinguished experience in the Nigerian oil and gas industry, has successfully led WSPOL’s operational excellence and strategic initiatives over the past two years. As the Managing Director and CEO, Oladapo will be responsible for the overall stewardship of WS Upstream, Midstream Gas, and Downstream businesses. Before joining WSPOL, Filani served as Deputy General Manager, Corporate Strategy & Business Delivery at First Exploration & Petroleum

Development Company Limited (First E&P). His career includes progressively senior roles at Eland Oil & Gas as Asset Development Manager and nearly two decades at Addax Petroleum Development Nigeria Limited, where he advanced from Reservoir Engineer to Senior Manager, Planning & Gas Development. His extensive experience spans Strategy and Planning, Operations, Portfolio Management, Gas Commercialization, Asset Development management, and multidisciplinary team leadership across technical and commercial functions.

Alex Osho has served as Group COO at the Waltersmith Group since February 2023 and has 20 years’ experience in energy, investment banking (M&A advisory, corporate & project finance, restructuring), and consulting. Prior to joining Waltersmith Petroman as CFO in 2019, Alex served as Associate Director & Head of Advisory & Equity Capital Markets at FBNQuest Merchant Bank where he led the $1billion restructuring of a large commercial bank and advised the FGN on the privatisation of key power

assets. Alex also previously served as VP (Investment Banking) at Barclays Africa where he advised a Nigerian upstream oil company on a key asset acquisition. He had also held key roles at KPMG, Oando, and FBN Capital. Alex has advised on transactions valued at over $12 billion across the energy, financial services, consumer, and infrastructure sectors. At Wa l t e r s m i t h , he has been responsible for several landmark transactions including debt and equity financings, restructurings and asset acquisitions.

Taiwo Adeniji – Non-Executive Director Taiwo Adeniji brings over 30 years of distinguished experience in development finance, investment banking, and infrastructure development across Africa. He retired from Africa

Finance Corporation (AFC) as a Senior Director in June 2024. At AFC, he spent 17 years in executive management roles, including as Divisional Head and a member of several senior

management committees. At AFC, Mr. Adeniji’s portfolio spanned power, transport and logistics, heavy industries, telecommunications, oil and gas, and mining sectors.

Hello Energy brings Christmas Sparkle to Anambra State Hello Energy Limited has reaffirmed its commitment to the Anambra community by turning the Fegge Roundabout in Onitsha into a vibrant focal point for the festive season. Adorned with sparkling Christmas lights, the roundabout now glows with colour and warmth, enhancing the city’s holiday ambience. The Fegge Roundabout was

constructed in 2023 by Hello Energy under its Corporate Social Responsibility (CSR) programme and in support of His Excellency Governor Soludo’s vision for the state. The landmark has once again become a symbol of goodwill, offering residents and visitors a visually captivating reminder of the season’s joy. Speaking at the unveiling of

this year’s Christmas lighting and decorations, Barrister Okide Ezigbo, Managing Director and Chief Executive Officer of Hello Energy, explained that the initiative is aimed at bringing joy, hope, and the excitement of the holiday season to children in the neighborhood many of whom rarely experience such magical, fairytale moments.

MARKET INDICATORS MONEY AND CREDIT STATISTICS (MiLLiOn nAiRA) October 2025

Month

Money Supply (M3)

119,037,577.07

-- Cbn bills Held by Money Holding sectors

9,291.49

Money supply (M2)

119,028,285.58

Quasi Money

79,681,419.97

-- narrow Money (M1)

39,346,865.60

---- Currency Outside Banks

4,646,794.28

---- Demand Deposits

34,700,071.33

Net Foreign Assets (NFA)

34,804,442.84

Net Domestic Assets(NDA)

84,233,134.23

-- Net Domestic Credit (NDC)

99,199,655.08

---- Credit to Government (Net)

24,787,980.96

---- Memo: Credit to Govt. (Net) less FMA

0.00

---- Memo: Fed. and Mirror Accounts (FMA)

0.00

---- Credit to Private Sector (CPS)

74,411,674.12

--Other Assets Net

2,603,854.03

Reserve Money (Base Money)

36,641,142.21

--Currency in Circulation

5,057,881.01

--Banks Reserves

31,583,261.21

--Special Intervention Reserves

284,361.95 • Source - CBN

Money Market Indicators (in Percentage) Month

October 2025

Inter-Bank Call Rate

October 2025

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

27.00

Treasury Bill Rate

15.07

Savings Deposit Rate

7.43

1 Month Deposit Rate

11.37

3 Months Deposit Rate

11.32

6 Months Deposit Rate

11.12

12 Months Deposit Rate

11.78

Prime Lending rate

18.89

Maximum Lending Rate

29.56

NSE MARKET INDEX CAP

0.75%(52%YoY)

Index

0.9% (29%Y/D) • Monetary Policy Rate - 27%

OPEC DAILY BASKET PRICE As At 24tH nOVeMbeR , 2025

The price of OPEC basket of twelve crudes stood at $63.14 a barrel on Monday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basrah Medium (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

T H I S D AY • FRIDAy, DECEmBER 19, 2025

mARKET NEWS

FCMB Group Secures Shareholders’ Approval to Raise N400bn Fresh Capital Kayode Tokede

In a move to align with the Central Bank of Nigeria’s (CBN) minimum capital requirements, the shareholders of FCMB Group Plc have approved the management’s decision to raise up to N400 billion fresh capital. The approval was given during an Extraordinary

General Meeting (EGM) recently held in Lagos. The approval for the expanded capital raise reflects the Group’s exceptional financial performance and shows shareholders’ unwavering confidence in its leadership and bold growth ambitions. Following the approval, FCMB Group will meet the minimum regulatory capital for banks with an

P R I C E S MAIN BOARD

F O R DEALS

international license ahead of the March 2026 deadline. This achievement will allow FCMB to retain its international banking license for its subsidiary, First City Monument Bank Limited. Speaking at the EGM, the Group Chief Executive Officer, Ladi Balogun, expressed profound gratitude to shareholders for their support and emphasised the strategic importance of

S E C U R I T I E S MARKET PRICE

qUANTITy TRADED

the capital raise. He said: “The additional capital will be deployed to strengthen our capital adequacy ratio and accelerate growth. We will invest in human capital and technology, support our international expansion, and reduce high-cost deposits. We project our earnings per share (EPS) to grow by over 50% on average over the next two years. This positions FCMB to

T R A D E D

vALUE TRADED ( N )

MAIN BOARD

A S

O F

outperform the market while delivering stronger dividends and shareholder returns.” Balogun added that:“With the capital adequacy ratio projected above 20%, our ability to pay dividends will improve significantly. Shareholders can expect a steady rise in dividends per share, reflecting the bank’s growth trajectory and enhanced returns.”

The shareholders of FCMB Group also approved the management’s decision to accept oversubscriptions from the 2025 Public Offer of the Group’s shares, up to the limit prescribed by the Securities and Exchange Commission (SEC) and subject to regulatory approvals. This leverages the strong investor demand reflecting confidence in the Group.

D E C E M B E R / 1 8 / 2 5 DEALS

MARKET PRICE

qUANTITy TRADED

vALUE TRADED ( N)

FRIDAY, DECEMBER 19, 2025 • THISDAY

FOCUS

Why ‘Detty December’ Should Stretch Nigeria’s Imagination, Not Its Infrastructure

By Joy Dawaki

very December, Nigeria transforms into the cultural capital of the African continent, a vibrant phenomenon now famously coined “Detty December.” This period is no longer just a holiday season; it has evolved into one of Nigeria’s most significant and reliable economic engines, showcasing the nation’s immense cultural and economic potential. In Lagos alone, the 2024 festive period drew an estimated 1.2 million visitors, nearly 90 per cent of them Nigerians from abroad returning home to reconnect and celebrate. The economic impact was staggering: the halls of Murtala Muhammed Airport were packed, hotels ran at 95 per cent occupancy, short-lets surged, event centres were fully booked, and an entire ecosystem of food, music, transport, fashion, and nightlife roared to life. Lagos State recorded N111.5 billion in tourism, hospitality, and entertainment revenue in that single month, while diaspora visitors injected over N60 billion directly into the local economy. This was not an isolated spike. December has become a dependable season that sustains thousands of businesses across hospitality, aviation, events, logistics, digital media, and retail. Top nightclubs alone reportedly generated N4.32 billion, short-lets added N21 billion, luxury car rentals hit N1.5 billion, and beaches, restaurants, and resorts absorbed over 70 per cent of leisure spending. The creative economy from concerts to cinemas and influencer campaigns reached some of its highest annual earnings in December 2024, with FilmOne reporting N2.8 billion at the box office. Across the country, the story was similar. In Calabar, the carnival season attracted over 300,000 tourists, filled 90 per cent of hotels, generated N2.79 billion in accommodation revenue, and transformed the city into a month-long festival economy. Detty December does what few policies manage to achieve: It brings Nigerians home. It attracts Africans from across the continent. It unlocks massive seasonal employment. It deepens our cultural exports. And it injects billions into the economy. But for all the light, colour and sound of December, one thing remains painfully clear: Nigeria’s party economy runs on shaky power.

December Boom Meets Fragile Grid December is when Nigeria’s commercial heartbeat quickens. Hotels operate at full capacity, clubs run until morning, event centres host thousands, and short-lets flip their prices overnight. It is also when airports run at their busiest and Lagos carries the weight of hundreds of thousands of additional people moving through the city daily. Every one of these sectors relies on a stable, uninterrupted power supply. Yet Nigeria’s grid offers the opposite: Installed capacity: ~13,000 MW; Actual available power: 4,000–5,500 MW on a good day and Per Capita electricity supply: among the lowest globally. This deficit means that the country operates on a fraction of its potential. The distribution system already struggles

Lagos State Governor, Babajide Sanwo-Olu

even under normal load, yet December is anything but normal. Hotels and short-lets consume industriallevel electricity during the festive season. Nightclubs in Lagos can draw as much load as a small factory. Events with 3,000 to 20,000 attendees operate equipment, sound, lighting, cooling, all requiring high voltage stability. Restaurants, bars, cinemas, malls, and beaches experience spikes that push local feeders beyond their limits. And so, we respond the only way we know how: With diesel; tired generators; rental generators and backup upon backup upon backup. This has made the economic engine of December both powerful and precarious, thriving on revenue but burning through costs that, in a functioning system, could instead be profit.

The Hidden Cost of Unreliable Power The strain shows up everywhere. A sudden blackout in the middle of a concert leaves concert goers panicked and in the dark. Sound systems crash mid-performance, forcing frantic, expensive fixes and denting the reputations of organisers who have invested heavily to get it right. Hotels and short-lets burn through diesel at a pace that often exceeds their payroll, while small food vendors lose stock the moment freezers go off. Nightclubs and lounges run generators almost without pause for 30 straight days, the hum of diesel becoming the unofficial soundtrack of the season. For small businesses, these power failures can be existential. For larger operators, they amount to a heavy seasonal tax. For the country, they represent a vast pool of economic opportunity slipping through the cracks. But the problem is not that Detty December is too big. It is that our infrastructure is too small.

Joy Dawaki

December Is Not the Problem, It Is the Proof Point The festive season reveals something important: Nigeria has market demand; Nigeria has diaspora pull; Nigeria has cultural capital; Nigeria has spending power and Nigeria has a global brand moment that other countries would kill for. The only missing link is reliable energy. Look at what December already proves: The crowds will come; the hotels will fill; the concerts will sell out; the fashion and beauty industries will boom; airlines will increase capacity; restaurants will run out of seats; digital creators will flourish and the creative economy will thrive. If all this is happening with unstable power, imagine what becomes possible when energy becomes a true enabler rather than a barrier.

reliability, and ensure that critical commercial zones never go dark. It is a model that aligns with global best practice, strengthens local distribution networks, and gives cities the resilient backbone required to host large events, attract travellers, and power 24-hour economies. State governments have an opportunity to think in this direction not with temporary December measures, but with long-term energy planning that prioritises commercial reliability. That means investing in sub-grid reinforcement, inviting private IPPs to develop embedded generation for high-demand districts, creating clear frameworks for C&I solar-gas hybrid solutions, and ensuring that hospitality clusters, entertainment arenas and airport corridors are plugged into stable, localised power sources. It is a shift from firefighting to foundational reform.

A Season That Can Power Our Future

Potential and Possibility

Nigeria needs a power system designed for a country that is growing, urbanising, digitalising, and economically active all year long. December exposes what everyday life already tells us: that the grid, in its current form, cannot support the scale of commerce, tourism, creativity and infrastructure that Nigeria is capable of unlocking. This is where embedded generation, decentralised supply and commercial-grade reliability become non-negotiable. Rather than viewing December as an anomaly, it should be treated as a stress test, one that shows why cities like Lagos, Abuja, Port Harcourt and Calabar need dedicated, independent, locally generated power serving their commercial hubs, airports, hospitality corridors, convention centres, malls and industrial clusters. This is exactly the kind of infrastructure we are building at Elektron Energy: embedded power systems that sit close to demand, bypass long transmission losses, guarantee

Detty December is more than a party; it is one of Nigeria’s greatest cultural advantages. It brings money, connection, diaspora engagement, global attention, and a sense of national vibrancy that is hard to engineer through policy alone. But culture cannot carry the economy if infrastructure collapses under its weight. Power cannot remain the weakest link in a season that showcases Nigeria at its brightest. If Nigeria strengthens its power system, incrementally, seasonally, city by city, we unlock a multiplier effect that touches aviation, tourism, hospitality, events, retail, food, logistics, fashion, beauty, creative industries, and small businesses. Detty December should stretch our imagination, not our infrastructure. •Joy Dawaki is Commercial Development Associate at Elektron Energy, a company which works to close gaps in Nigeria’s electricity supply value chain.

This

Weekend

T H I S D AY • FRIday, december 19, 2025

Group Features editor: Chiemelie ezeobi chiemelie.ezeobi@thisdaylive.com

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FRAnklIn neCHI: Our 2026 Outlook Charts new global Frontiers For African Investors

T H I S D AY • FRIday, december 19, 2025

Cover

FrANKLIN NeCHI: our 2026 outlook Charts New Global Frontiers For African Investors

as 2025 winds down, one message rings clear across africa’s business and financial landscape-the world is changing faster than ever, and those who will thrive are those who prepare for a future beyond borders. Chiemelie ezeobi writes that for chairman, Optiva capital Partners, africa’s leading investment immigration and wealth retention firm, Franklin Nechi, this aligns with his vision for global access, wealth diversification, and a secure future for african families

or discerning entrepreneurs, high-net-worth individuals, and visionary families, the conversation has shifted from building wealth locally to securing access globally. At the forefront of this transformation is Optiva Capital Partners, Africa’s leading investment immigration and wealth retention firm, which has become synonymous with credibility, innovation, and impact. As the firm unveils its 2026 advisory outlook, Chairman, Franklin Nechi reaffirms Optiva’s leadership and mission to guide African investors toward a new era of opportunity, mobility, and financial security. Think Global, Invest Smart For Optiva Capital Partners, the 2026 message is simple yet profound - Africans must think global and invest smart. “The world no longer rewards isolation,” Nechi explains. “It rewards access - the ability to move freely, invest wisely, and connect seamlessly to global systems of education, healthcare, and business.” Optiva’s advisory emphasizes that mobility is the new wealth. In a world increasingly defined by geopolitical shifts, economic uncertainty, and digital transformation, second citizenship and residency programs have become strategic assets rather than luxury options. They empower entrepreneurs and professionals to expand their businesses across continents, access new markets, and safeguard their families’ future. “Mobility means freedom,” Nechi says. “It’s not just about travel - it’s about opportunity. For business owners, it’s access to new markets and capital. For families, it’s access to quality healthcare and education. True wealth is not only about what you have, but also where you can go.” Optiva’s Leadership in Investment Immigration Over the past decade, Optiva Capital Partners has built a reputation as Africa’s foremost authority in investment immigration - a reputation grounded in credibility, partnership, and client trust. Through strategic alliances with licensed global program administrators, international law firms, and premium real estate developers across Europe, the Caribbean, and the Middle East, Optiva ensures that every client engagement adheres to the highest standards of global best practices. “Our success is not just measured by transactions,” Nechi notes. “It’s measured by transformation - the lives changed, families empowered, and legacies secured through foresight and planning.” Real Impact, Real Stories Behind the numbers and strategies lie

2026 is the year to plan globally and act wisely; a second passport is not a luxury, it is a life strategy because mobility is the new wealth - and access is power

Franklin Nechi

powerful human stories that reflect the transformative impact of Optiva’s work. One client, who passed away unexpectedly, had already secured permanent residency for his family through Optiva. Today, his children study in some of the world’s best institutions tuition-free, while his wife enjoys the security of a global residence permit. “That’s the essence of what we do -protecting dreams even beyond life,” Nechi says. Another success story involves an entrepreneur who leveraged his second passport to establish a multi-billion-dollar manufacturing plant in the Middle East, employing hundreds of people and repatriating foreign exchange to Nigeria. In another instance, a client’s life was saved because she could travel immediately for urgent medical care abroad - a possibility that her second citizenship made effortless. “These stories prove one thing,” Nechi adds, “that foresight changes everything. A second passport isn’t a symbol of privilege - it’s a tool for protection, empowerment, and legacy.” The Art of Wealth Retention As part of its broader mission, Optiva Capital Partners has expanded beyond investment immigration into holistic wealth retention services. The firm offers an integrated suite of financial solutions that help clients protect, grow, and optimize their assets across jurisdictions. Nechi explains that the firm’s philosophy is rooted in four pillars - protection, growth, optimization, and enhancement. “Protecting wealth means safeguarding it against currency fluctuations and market instability. Growth ensures that your money

continues to earn returns through diversified investments. Optimization means putting your money to work efficiently, so it keeps generating value even when you retire, while enhancement ensures that clients’ investments are diversified and well distributed across asset classes, currencies, and jurisdictions.” For African investors, Optiva’s message is clear: diversify. “Do not keep all your wealth in one market or currency,” Nechi advises. “If your expenses are in foreign currencies - tuition, healthcare, travel - then part of your income should also be earned in those currencies. That’s how you build long-term financial resilience.” Family at the Heart of Every Plan Optiva’s business philosophy remains deeply human. At the core of every service offered is a commitment to family welfare - ensuring that clients not only accumulate wealth but also secure a better life for their loved ones. “Every family deserves access to the best education and healthcare,” Nechi emphasizes. “A second passport allows children to attend top universities as domestic students, saving significantly on tuition costs. It ensures that families can access world-class healthcare without bureaucratic delays or visa restrictions. It’s about giving your family peace of mind and the freedom to thrive.” Global Partnerships, Global Trust Optiva Capital Partners’ credibility rests on its global network of partners spanning the Caribbean,

Europe, North America, and the Middle East. These alliances ensure that every programme offered is governmentapproved, transparent, and tailored to client needs. “We have built trust not only with clients but with governments and institutions worldwide,” Nechi affirms. “Our partnerships define our strength, and our results speak for themselves. That’s why Optiva remains the name synonymous with investment immigration leadership in Africa.” 2026: The Year of Global Access Looking ahead, Optiva Capital Partners is positioning 2026 as a year of digital innovation and global expansion. The firm plans to deepen its involvement in international real estate and introduce digital wealth platforms that will make cross-border investing more seamless for African clients. “2026 will be the year of global access,” Nechi predicts. “We’re building the infrastructure and partnerships to help Africans invest, live, and thrive anywhere in the world. Our vision is simple - to be the bridge that connects African potential to global prosperity.” The Optiva Promise As the year draws to a close, Optiva Capital Partners is once again reinforcing its mission: to improve lives by helping clients protect, grow, and optimize their wealth - and to ensure that African investors no longer view global opportunity as distant, but as attainable. “Plan globally, invest wisely, and partner with people you trust,” Nechi concludes. “Optiva exists to guide that journey - from ambition to achievement, from Africa to the world.”

t H I s D aY • FRIday, december 19, 2025

features

Global Maison Visits to Polo Luxury signal africa’s rising stature in High-end Market In a significant show of confidence in africa’s burgeoning luxury market, three of the world’s most prestigious luxury watch brands, rolex, cartier, and Piaget, have made notable visits to Polo Luxury, the continent’s leading luxury retail brand. These strategic visits underscore the growing importance of africa in the global luxury landscape and highlight Polo Luxury’s pivotal role in shaping the continent’s high-end market. as global luxury maisons look to expand their presence in africa, Polo Luxury stands out as a key partner, cementing its position as the go-to destination for discerning african clientele seeking the finest in luxury watches, jewellery, and lifestyle accessories. Writes MarY NNaH

n recent times, Africa has been gaining increasing attention from the global luxury industry, and for good reason. The continent is home to a growing number of affluent individuals who are seeking high-end products and experiences that reflect their unique cultural identity. At the forefront of this transformation is Polo Luxury, a leading luxury retail brand that has been serving the Nigerian market for over three decades. Recently, the company played host to three significant visits from global luxury maisons, Cartier, Rolex, and Piaget, underscoring the brand’s commitment to deepening its roots in the African market. The company’s Managing Director, John Obayuwana, noted that the Nigerian luxury market is undergoing a significant shift. In the past, the company’s clientele consisted primarily of traditional “old money” - ministers, governors, and established wealthy families. However, with the evolving economy, Polo Luxury has noticed a growing number of young high-flyers joining the ranks of the affluent. A Partnership of Shared Values Benjamin Comar, the CEO of Piaget, paid a courtesy visit to Polo Luxury’s head office in Lagos, where he was warmly welcomed by Polo’s Chief Executive Officer, Mr. John Obayuwana. The visit served to reinforce Piaget’s strategic commitment to the Nigerian market while strengthening its presence among the country’s affluent clientele. Comar described the longstanding partnership with Polo Luxury as a “natural and perfect match,” citing Obayuwana’s pioneering role in Nigeria’s luxury retail landscape and his understanding of the local market as key factors in the collaboration. This partnership reflects the shared values of both brands, which prioritise timeless craftsmanship, heritage, and innovation. For over a decade, Polo Luxury has proudly represented some of the world’s most prestigious watch and jewellery maisons in Nigeria, including Piaget. According to Obayuwana, the company is adapting its strategy to captivate the new generation of successful individuals. “While remaining traditional and classic, we also have to address the needs of this younger generation, who will hopefully hand things over to the next generation after them,” Obayuwana explained. “This is how it works, and this is how we’re evolving.”

Polo luxury Abuja boutique

products and experiences to the continent’s discerning clientele. The company’s partnership with Rolex is a symbol of its dedication to showcasing timeless craftsmanship, heritage, and innovation. The visit by Emile Crettex highlights the growing importance of Africa in the global luxury landscape. With its expanding middle class and increasing demand for luxury goods, Africa presents a significant opportunity for luxury brands like Rolex. Polo Luxury’s relationship with Rolex is part of a larger trend of global luxury brands recognising the potential of the African market. The company’s commitment to providing exceptional service and showcasing the finest luxury brands has earned it a reputation as a trusted partner in the industry.

relevance in the global luxury narrative. With Polo Luxury at the heart of this transformation, the continent is witnessing a new era of luxury appreciation. The company’s commitment to showcasing timeless craftsmanship, heritage, and innovation is resonating with Africa’s most discerning clients. As the luxury industry continues to evolve, Polo Luxury is poised to remain at the forefront of the African market. With its exclusive partnership with Rolex and its representation of other renowned global brands such as Piaget, Cartier, Chopard, IWC, Omega, Longines, Balmain, Montblanc, and Swarovski, the company is well-positioned to meet the needs of the continent’s growing number of affluent individuals.

Global Partnerships and Cultural A New Era of Luxury Appreciation Sophistication The strategic visits from Rolex, The partnership between Piaget Cartier, and Piaget are a clear and Polo Luxury is a prime indication of Africa’s growing example of global partnerships

In recent times, Africa has been gaining increasing attention from the global luxury industry, and for A Strategic Visit to Abuja Boutique Also, Emile Crettex, a representative good reason. The continent is home to a growing from Rolex, recently visited Polo Luxury’s Abuja boutique to inspect number of affluent individuals who are seeking the newly finished facility and engage high-end products and experiences that reflect in strategic business discussions. This visit is a demonstration of Rolex’s their unique cultural identity. At the forefront of commitment to sustaining its presence in Nigeria’s fast-growing luxury market. this transformation is Polo Luxury, a leading luxury As a leading luxury retail brand in Africa, Polo Luxury has been retail brand that has been serving the Nigerian instrumental in promoting high-end market for over three decades

that are shaping the luxury industry. The collaboration is not just about showcasing high-end products but also about cultural sophistication and craftsmanship. Comar ’s visit to Polo Luxury’s head office was a demonstration of the company’s commitment to deepening its roots in the African market and understanding the local culture. As the luxury industry continues to evolve, global partnerships like the one between Piaget and Polo Luxury will play a crucial role in shaping the future of luxury appreciation in Africa. With its commitment to timeless craftsmanship, heritage, and innovation, Polo Luxury is set to remain a leader in the African luxury market for years to come. Crafting a Legacy The visits from Rolex, Cartier, and Piaget are not just about business; they are about crafting a legacy. Polo Luxury’s commitment to showcasing the best of global luxury brands is a demonstration of its dedication to excellence. As the company continues to evolve and adapt to the changing needs of its clients, it remains true to its values of timeless craftsmanship, heritage, and innovation. These historic visits from Rolex, Cartier, and Piaget to Polo Luxury are a testament to the growing relevance of Africa in the global luxury narrative. With its commitment to exceptional service, Polo Luxury is poised to remain at the forefront of the African Luxury market. As the luxury industry continues to evolve, global partnerships like the one between Piaget, Rolex, Cartier, and Polo Luxury will play a crucial role in shaping the future of luxury appreciation in Africa.

t H I S D AY • FRIday, december 19, 2025

EntrEprEnEur

Why Imo is Fast Becoming Nigeria’s Eastern Hub for Investment, Innovation and Industrial Growth

Once known more for its human capital than its industrial base, Imo State is now stepping deliberately into the centre of Nigeria’seconomicreconfiguration.attherecentlyheldImoStateeconomicSummit2025inOwerri,federalpolicymakers, global leaders and private sector heavyweights converged to signal a shift in the state’s fortunes, positioning the eastern Heartland as a rising destination for investment, innovation and industrial growth. Chiemelie Ezeobi reports

mo State is emerging as one of Nigeria’s most strategically positioned frontiers in the country’s economic diversification drive, as federal authorities, global leaders and private sector giants recently converged for the Imo State Economic Summit 2025 in Owerri, to celebrate a renewed vision for growth anchored on technology, gas utilisation, agro-industrial processing and small and medium-scale enterprises. President Bola Ahmed Tinubu represented by Vice President Kashim Shettima; former United Nations Secretary General, Ban Ki-Moon; former British Prime Minister, Boris Johnson; Liberian President, Joseph Boakai; Emir of Bida, Etsu Nupe, Alhaji Yahaya Abubakar; HRM, Ooni of Ife; former President of Mauritius, Ameenah GuribFakim; Minister of Finance, Wale Edun; Africa’s richest man, Aliko Dangote; Deputy Governor of Imo State, Lady Chinyere Ekomaru, among other dignitaries, were in attendance. A Federal Signal of Confidence In his speech, Vice President Kashim Shettima placed the state firmly within President Bola Ahmed Tinubu’s national reform architecture, describing Imo as a critical pillar in Nigeria’s long-term prosperity agenda, just as he added that national growth could only be sustained when states deliberately harness their comparative advantages and take ownership of their development. “Nations do not rise because one corner of the map ascends while others remain dormant. Nations rise when every part discovers its promise and takes responsibility for its own economic direction,” he said. VP Shettima identified Imo as primed for rapid expansion in high-growth sectors, including technology, gas utilisation, agroindustrial processing and SMEs, assuring investors that the Federal Government would support the state through access to financing from the Bank of Industry and the Development Bank of Nigeria, alongside structured Public-Private Partnerships in housing, transport and renewable energy. “All these possibilities converge to remind us that Imo is not just ready for investment. Imo is primed for transformation,” he declared. The Vice President reaffirmed the Federal Government’s commitment to investor protection, policy consistency and de-risking private capital, stressing that innovation, talent and technology now define global competitiveness more than natural resource extraction alone. “The Federal Government stands ready to walk with Imo State to unlock opportunities, de-risk promising ventures and ensure that the benefits of development are felt across communities. To investors here today, the message is unmistakable: Imo is open for business. Nigeria is open for business,” he said. He disclosed that federal programmes were already empowering young innovators, expanding digital skills training, strengthening tech clusters, promoting STEM education and deepening research partnerships with universities. “The young people of Imo are creative, ambitious and connected to the global knowledge economy. Our duty is to give them the tools, the platforms and the confidence to build the future that awaits them,” VP Shettima said.

Vice President Kashim Shettima flanked by Imo State Governor, Hope Uzodinma (fifth left); Imo State First Lady, Barr. Chioma Uzodinma (fourth left); Ban Ki Moon, former Secretary-General of the United Nations (third left); Deputy Governor of Imo State, Lady Chinyere Ekomaru (immediate left); Liberian President, Joseph Boakai (fifth right); Ameenah Gurib-Fakim, former President of Mauritius (fourth right); former British Prime Minister, Boris Johnson (third right); Minister of Finance, Wale Edun (second right); and others at the summit

Governor Uzodimma’s Strategic Pitch In his welcome address, Governor Hope Uzodimma described the summit as both historic and symbolic, noting that attendance had exceeded expectations and signalled growing confidence in Imo’s economic direction. “You are in the right place at the right time,” the Governor told participants, declaring Imo the “Eastern Heartland, the home of the digital economy, and the home of hospitality.” He credited President Tinubu’s reforms including fuel subsidy removal and foreign exchange harmonisation, with resetting Nigeria’s investment climate. “For the first time in decades, Nigeria is witnessing bold, market-driven policy resets… these intentional reforms have created a fertile environment where the private sector can truly thrive,” he said. Governor Uzodimma also redefined the state’s name as a deliberate economic proposition. “In my new way of thinking, IMO stands for Investment Meets Opportunities,” he said. The Governor outlined Imo’s strategic location, population strength and natural endowments, noting that the state covers a landmass larger than Singapore, Mauritius and Trinidad and Tobago, and is centrally located within the South-East, with easy access to Aba, Onitsha and Port Harcourt. Imo, he said, boasts Nigeria’s thirdhighest Human Development Index and is endowed with crude oil, natural gas, solid minerals and vast agricultural potential. “We are blessed with the largest gas reserves estimated at 200 trillion cubic feet,” he said. “So, for those looking for business in gas exploration and utilisation, Imo State is the destination.”

creating an enabling environment for private investment. “I can proudly tell you today that Imo is safe again to the glory of God,” he said, noting that improved security now guarantees predictability for capital deployment. He disclosed that over 120 strategic roads and bridges had been constructed to link Imo’s 27 local government areas and neighbouring states, while the state was tackling Nigeria’s biggest industrial bottleneck — power. “By the end of this month, we will launch Phase 1 of the Light Up Imo Project… Yes, we will guarantee 24/7 electricity supply for the state,” he said.

Security, Infrastructure and Power: The New Foundations Governor Uzodimma traced Imo’s past development challenges to a flawed state-driven industrial model and weak infrastructure but said his administration had shifted focus to

Global Voices and Private Sector Commitments International validation came from former Mauritian President Ameenah Gurib-Fakim, who said Africa’s future depended on Nigeria’s rise and pledged to attract renewable energy investors

Land Reform, Energy, Technology and Agro-Industrial Scale A major highlight of the summit was Imo’s digital land reform. The Governor announced the launch of the Imo Land Information Centre (ILIC), a fully digitised, blockchain-powered land administration system. “It means someone can obtain a Certificate of Occupancy within 24 hours,” he said. “We have removed uncertainty and all forms of racketeering from the equation.” Furthermore, Governor Uzodimma described Imo’s gas reserves as the largest proven in West Africa, supported by the Orashi Energy Free Trade Zone, offering tax holidays and value-addition opportunities. “We are talking about value addition through digital-led manufacturing, technology-enabled services, and logistics,” he said. He also highlighted Adapalm as a major agro-industrial platform and pointed to opportunities in cement, ceramics and downstream manufacturing from Imo’s solid mineral deposits.

to Imo. Former UN Secretary-General Ban Ki Moon described the summit as “a gathering of great significance,” stressing that Africa holds the key to solving global challenges. Without addressing the challenges Africa is facing, we would not say we have a sustainable world,” he said. In his speech, the former Prime Minister of Britain, Boris Johnson, commended Uzodimma for his efforts to drive economic transformation in Imo State, particularly through the move to provide 24-hour electricity, adding that reliable power supply is critical for development just as artificial Intelligence would shape the future of global economies. Aliko Dangote, President of Dangote Industries Limited, praised the Tinubu administration’s business-friendly policies and assured the Governor that Dangote Industries “will be one of your biggest investors in Imo.” The Managing Director and CEO of Orashi Special Energy Free Zone (OSEFTZ), Dr. Chioma Nwachuku, stressed that manufacturing is returning to regions with talent and resilience, adding that investors everywhere are searching for an environment where purpose and opportunity align. Also speaking, founder and chairman of Zinox Group, Dr. Leonard Stanley Ekeh, promised to invest N5 billion in educational institutions in the state next year, just as he extolled the governor for investments in what he called the Knowledge City but added that more drive is needed in technology investment and development of the state. From Dialogue to Delivery As the summit closed, VP Shettima issued a challenge to all stakeholders. “Let this Summit not end with good ideas alone. Let it lead to signed partnerships, funded projects and measurable outcomes that uplift lives and create jobs,” he urged. For Imo State, the summit marked more than an event — it was a declaration that the Eastern Heartland is ready to convert opportunity into enterprise, reform into returns, and vision into reality.

THISDAY • FRIDAY, DECEMBER 19, 2025

POLITY

Kogi Philanthropist, Prince Olusoji, Officially Joins APC, Commits to Kogi’s Development By Adenike Olabanjo

rince Olatunji Olusoji, businessman, philanthropist, and the Asiwaju I of Ayere Kingdom in Kogi West, has officially joined the All Progressives Congress, APC, in a move that has drawn attention across the state’s political landscape. Olusoji, who is the Chief Executive Officer of Grosvenor Group and founder of the Prince Olatunji Olusoji Foundation, PROOF, was formally received into the ruling party by the Governor of Kogi State, His excellency, Alhaji Usman Ododo in an event that marked the formal declaration and reception of Olusoji from the Peoples Democratic Party (PDP) into the All Progressives Congress (APC), with party leaders and government officials in attendance. His entry into the APC was described by party leaders as a significant boost to the party’s strength in Kogi West and the state at large. Speaking during the event, Prince Olusoji said his decision to join the APC was based on his belief that the party has positively shaped governance at both the federal and state levels. He noted that his long-standing commitment to community development, education, and empowerment aligns with the vision of the present administration in Kogi State. Over the years, Prince Olusoji has gained recognition for his philanthropic activities across Kogi West and beyond. Through his foundation, PROOF, he has supported students, institutions, and vulnerable groups with scholarships, educational funding, empowerment programmes, and social interventions running into hundreds of millions of naira. His efforts have earned him several awards for service to humanity. Addressing Governor Ododo, Olusoji assured him of the support of the Okun people, stating that they are prepared to back the governor’s administration and its development agenda. He expressed confidence in the leadership of the governor and pledged to mobilise political and grassroots support for the APC in Kogi West.

Kogi State Governor, His Excellency, Usman Ododo with Prince Olatunji Olusoji as he formally declares for APC with party leaders and government officials in attendance.

“I want to assure you that I am ready to work and support you fully,” Olusoji said. “In my interactions with you, I have seen your commitment to service and your fear of God. I believe you understand the people and where you come from. My people are ready to support your administration and its vision for Kogi State.” He further stated that the Okun Nation believes in fairness, equity, and justice, adding that their support for the APC is rooted in the hope of inclusive governance and balanced development across all zones of the state. In his response, Governor Usman Ododo described Prince Olusoji’s decision to join the APC as timely and significant. He said the philanthropist’s entry into the ruling party reflects confidence in the direction of governance in Kogi State. According to the governor, the people of Kogi State have benefited immensely from Olusoji’s interventions, particularly in education and youth development. He cited scholarships and financial support extended to students of Kogi State College of Education and other institutions across the country.

“Prince Olusoji has chosen to invest in the future rather than watch from a distance,” the governor said. “His contributions have impacted many families and communities. His decision to join the APC validates the path we are taking in Kogi State.” Governor Ododo also paid tribute to former Governor Yahaya Bello and other leaders of the party for laying the foundation for unity and progress within the APC in Kogi State. He expressed optimism that the inclusion of influential figures like Prince Olusoji would further strengthen the party’s presence and effectiveness across the state. The governor acknowledged the role of elder statesmen in shaping political leadership, specifically appreciating Chief James Ibori for his mentorship and influence, which he said had helped nurture leaders committed to public service. Prince Olusoji, who also serves as the Patron of the Kogi Market Men and Women Association, used the occasion to empower members of his constituency with vocational and business kits valued at millions of naira. The empowerment programme, according to

organisers, was aimed at promoting self-reliance and economic stability among beneficiaries. As part of the event, party leaders and supporters commended Olusoji for his consistency in supporting community development regardless of political affiliation. They noted that his decision to formally join the APC signals a new phase of political engagement anchored on service, development, and grassroots participation. With his entry into the APC, observers say Prince Olatunji Olusoji is expected to play a more active role in shaping political mobilisation and development initiatives in Kogi West and the wider state, bringing his experience in business, philanthropy, and community leadership into the political space. •Adenike Olabanjo is a Lagos-based political consultant with experience in public affairs, political strategy, and stakeholder engagement. She has a strong interest in governance, policy, and the intersection of politics and business in Nigeria. Her work focuses on political communications, analysis, and developmentdriven leadership. She writes on issues shaping Nigeria’s political and economic landscape.

NEWS

Minister Tours Field Projects, Seeks Accelerated Sugarcane Development to Achieve Self-sufficiency James Emejo in Abuja

The Minister of State for Industry, Senator John Owan Enoh, said there is an urgent need for accelerated sugarcane develop-

ment to match the country’s aspirations for self-sufficiency as well as match factory capacity. He said farm expansion remained critical to achieving full operational readiness.

The minister spoke when he undertook a comprehensive tour of the Lafiagi Sugar Company (LASUCO) in Kwara State. Enoh embarked on the visit, alongside the Executive

Secretary/Chief Executive, National Sugar Development Council (NSDC), Mr. Kamar Bakrin, in line with President Bola Tinubu’s directive to concerned officials for the

COAS Orders Training Reforms, Intelligence Upgrades Linus Aleke in Abuja

The Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, has ordered far-reaching reforms in training and intelligence as part of a comprehensive overhaul of the Nigerian Army’s operational

and administrative structures, aimed at building a more professional, adaptable, combat-ready and resilient force. Shaibu gave the directive in his closing remarks at the Chief of Army Staff Annual Conference 2025, held at Nebo

Hall, Abalti Barracks, Lagos. He noted that the conference served as a critical forum for reviewing Army’s operational and administrative performance in 2025 and for setting priorities that would guide policies and actions in the year ahead.

In a statement by the Acting Director of Army Public Relations, Colonel Appolonia Anele, the COAS said the Nigerian Army would immediately realign its training, operations, logistics and administrative processes with his Command Philosophy.

acceleration of the country’s attainment of self-sufficiency in sugar production. The minister commended Bakrin for the great job in motivating and monitoring operators in the Backward Integration Programme (BIP), noting that the scale of infrastructure, and level of investment, as well as the degree of project advancement observed at LASUCO reflected a tangible commitment to the objectives of BIP. The minister stressed that the president had mandated him, working closely with the NSDC boss to ensure that operators

move decisively from plans to full production. He reaffirmed the federal government’s commitment to sustained engagement with serious investors, traditional institutions, and host communities amid efforts to energise the industry, conserve foreign exchange, create jobs, and deepen industrial value chains. During the visit, the minister undertook a comprehensive tour of LASUCO’s integrated sugar complex, including its sugar mill, ethanol plant, power infrastructure, irrigation systems, and over 700 hectares of existing sugarcane cultivation.

FRIDAY, DECEMBER 19, 2025 • THISDAY

THIRTY-EIGHT

Aisha Rimi: NIPC Tracked $10.23bn in Capital Importation at Half Year Says approved 186 expatriate quotas, granted pioneer status incentive to 17 companies, created 5,432 direct jobs

James Emejo in Abuja

Executive Secretary/Chief Executive, Nigerian Investment Promotion Commission (NIPC), Ms. Aisha Rimi, yesterday said it recorded a total of $10.23 billion in capital importation in the first half of the year (H1 2025). Rimi said the commission approved 186 expatriate quotas and granted Pioneer Status Incentive (PSI) to 17 companies within the year. Speaking at the NIPC quarterly media parley in Abuja, Rimi said capital importation improved to $5.2 billion in Q1 compared to $3.4 billion in Q1

2024, with over $10 billion in new investment commitments. She further disclosed that a total of 5,432 direct jobs were created from its activities. She reaffirmed the commission’s aspiration to translate investment interests into real job-creating, revenuegenerating projects that support national economic objectives. Represented by the NIPC Director, Strategy Services, Abubakar Yerima, Rimi noted that the year had been one of renewed purpose, discipline, and measurable achievements. Highlighting the commission’s achievements under the One-Stop Investment

Centre (OSIC), a platform for streamlined business registration and investment services in the first quarter of the year (Q1 2025), she said the commission laid a strong foundation for the rest of the year through facilitation of high-value investment leads, including institutional strengthening. Rimi pointed to progress in expanding the National Investment Certification Programme for States (NICPS); continuing the administration of the Pioneer Status Incentive (PSI); enhancing One-Stop Investment Centre services; advancing strategic policy re-

forms including updates to the NIPC Act and strengthening the Inclusive Business Policy framework. She said OSIC ensured that 100 per cent of business registrations were processed within 48 hours. Other milestones included high efficiency in investor inquiry response, incorporation of nearly 100 companies facilitated as well as improved visa-on-arrival and permit processing, and strong subnational and policy engagements laying the foundation for future investments. The NIPC boss stated that in Q2 2025, the commission

focused on converting investment announcements into tangible projects, strengthening digital platforms, and deepening subnational investment readiness. She said 713 investor enquiries were processed within the period under review while 71 business registrations got facilitated, including 3,016 direct jobs created across manufacturing, ICT, agro-processing, and renewable energy. She said the commission also enhanced Nigeria’s visibility at global engagements, including the Brazil-Nigeria Dialogue, Sweden-Nigeria

IN MAJOR DIPLOMATIC RESET, SENATE CONFIRMS 64 AMBASSADORS

stream and Gas) yesterday subjected President Bola Tinubu’s nominees for the leadership of Nigeria’s oil and gas regulatory agencies to rigorous screening. The candidates unveiled ambitious plans centred on digitisation, strict contract enforcement, stakeholder collaboration, and accelerated gas development to unlock value in the sector. Among the ambassadorial nominees cleared by the upper chamber were the immediate past chairman of Independent

National Electoral Commission (INEC), Professor Mahmood Yakubu; former Minister of Aviation, Chief Olufemi Fani-Kayode; former Minister of Interior, Lt. Gen. Abdulrahman Dambazzau (rtd); former sole administrator of Rivers State, Vice Admiral Ibok-Ete Ekwe Ibas (rtd); and former presidential aide, Mr. Reno Omokri. The confirmation followed the presentation and adoption of the report of Senate Committee on Foreign Affairs, chaired by Senator Sani Bello (APC, Niger

North), after weeks of screening of the nominees forwarded by the presidency. Presenting the report, Bello told the senate that all the nominees were thoroughly vetted and found suitable for their proposed diplomatic assignments. He added that no petition or adverse security report was received against any of the nominees during the screening process. “The committee carefully examined the credentials, experience and competence of all

nominees and is satisfied that they are qualified to represent Nigeria in their respective postings,” Bello said. The confirmed list comprises 34 career ambassadors and high commissioners and 30 non-career ambassadors and high commissioners, bringing the total number to 64. The nominee from Yobe State, who did not appear before the Committee on Foreign Affairs for screening was not included in the list. Following the adoption of the report, Senate President

AT APC CAUCUS MEETING, TINUBU ASSURES NIGERIANS STATE POLICE WILL BECOME REALITY

talked about multi-level police will become a reality before long. Tinubu spoke at the national caucus meeting of the ruling All Progressives Congress (APC) ahead of the National Executive Committee (NEC) meeting billed for today, Friday, at the Conference Centre of State House, Abuja. He stressed that all hands must be on deck to guarantee improved security situation across the country by ensuring that the state police bill was passed and became law. The president said he held meetings recently with the European Union and United States teams, and assured them that the state police bill would be passed by the National Assembly with the support of his party, APC. Tinubu emphasised that everything would be done to ensure that the project did not fail. He stated, “I had a very long discussion with the US and Europeans. I was bragging to them that definitely we will pass the state police bill to improve security. “They asked me if I’m confident and I said, yes. I have a party to depend on. I have a party that will make it happen and if at this level we fail, God forbid, we will not fail.” The president also told the party leaders, including governors, the leadership of the National Assembly, and former governors, that the autonomy granted the

local government councils via a recent Supreme Court judgement must be followed to the letter by empowering the councils financially. Tinubu stated, “Let us equally look at the recent Supreme Court judgement. What can we do with it, and how well we can position our country and our party. To me, the local government autonomy is, and must be, effective. “Let us give them. There is no autonomy without funded mandate, we’ll give them their money directly. That’s the truth. That’s compliance to the Supreme Court. Take leadership seriously.” Vice President Kashim Shettima, who was earlier asked by Tinubu to speak on his behalf, welcomed all the new members to the party, especially the seven former governors of Peoples Democratic Party (PDP), who recently defected to APC Shettima said most states in all the six geo-political zones were under the control of APC, with the party boasting 28 state governors. He stated, “I want to assure our governors, this is your home. Kefas Agbu is a very gentleman. We can rest assured that 2027 is there for us. A lot of opposition members are itching to join us.” President of the Senate, Senator Godswill Akpabio, said the National Assembly had confidence in the leadership of Tinubu, that of the party’s National Working Committee (NWC), led by the

chairman, Professor Nentawe Yilwatda, and in the progressive governors led by Senator Hope Uzodimma. Alleging that insecurity had been orchestrated by opposition party members, Akpabio prayed God to give Tinubu the strength to ensure release of the remaining kidnapped students of a Catholic school in Niger State. Speaker of the House of Representatives, Hon. Tajudeen Abbas, called for clear approach

that would reward loyalty. Abbas stated, “2026 must be about delivery and meeting the needs of Nigerians. Nigerians must continue to understand what the government is doing and why it is doing it. APC must seek cohesion.” He called for full support for Tinubu and the ideals of the party, saying, “Together, we will continue to steer Nigeria towards unity, Continued on page 42

Godswill Akpabio formally declared the nominees confirmed and urged them to see their appointments as a call to national service. Akpabio congratulated the new ambassadors and charged them to project Nigeria’s image positively, deepen bilateral ties, and protect the country’s interests in their host nations. “You are going out there to represent Nigeria. Wherever you are posted, remember that you carry the image, values and aspirations of over 200 million Nigerians,” the senate president said. The non-career ambassadors’ list reflected a blend of political experience, technocratic background, and public service experience. In addition to Yakubu, FaniKayode, Omokri, Dambazzau and Ibas, those confirmed included the senator for Ondo South, Jimoh Ibrahim; former governors Ifeanyi Ugwuanyi (Enugu) and Okezie Ikpeazu (Abia); former Deputy Governor of Lagos State, Chief Femi Pedro; former Akwa Ibom senator, Ita Enang; and former

Aisha Rimi Business Forum, African CEO Forum as well as the BRICS Women Forum. “These platforms deepened investor engagement and expanded project pipelines,” she noted. Moreover, Rimi said Q3 was marked by strategic partnerships, sectoral development, digital restoration, and expanded subnational support. Adamawa senator, Grace Bent. Equally confirmed were Florence Ajimobi, widow of the late former Governor of Oyo State; former Ekiti State First Lady, Erelu Angela Adebayo; former Minister of Health, Professor Isaac Adewole; and Senior Advocate of Nigeria (SAN), Onueze Okocha. The career ambassadors approved by the senate included Ambassador Nwaobiala Chukwuemeka (Abia); Betso Maimunah Ibrahim (Adamawa); Monica Enebechi (Anambra); Ambassador Mohammed Lele (Bauchi); Syndoph Endoni (Bayelsa); Ambassador Ahmed Monguno (Borno); Ambassador Adams Bassey (Cross River); Ambassador Clark-Omeru Efe (Delta); and Geoffrey David (Ebonyi). Others were Odumah Ehinosen and Ambassador Wasa Ige (Edo); Ambassador Adeyemi Emmanuel (Ekiti); Ambassador Okechukwu Onaga (Enugu); Ambassador Magaji Umar (Jigawa); Ambassador Muhammad Continued on page 43

BONI, INVESTRUST DISPUTE RAISES QUESTIONS OVER INVESTOR PROTECTION IN ZAMBIA

additional prominence following recent high-profile meetings in Lusaka between President Hakainde Hichilema and prominent Nigerian business leaders, including Aliko Dangote and Tony Elumelu. During those engagements, the Zambian government reiterated its commitment to transparency, predictability and reforms aimed at attracting foreign and regional capital. According to details of the transaction, BONI acquired a 24.8 per cent stake in Investrust Bank Plc in 2021 through Pangea Securities, a licensed broker, and via the Lusaka Securities Exchange. The shares were said to have been purchased in line with exchange rules and publicly available procedures, forming part of a strategy that included

discussions with multilateral African finance institutions and plans to modernise the bank’s operations through a partnership with a major Asian financial technology firm. Following the acquisition, BONI, THISDAY learnt, was informed that because Investrust Bank was a regulated financial institution, approval from the Bank of Zambia was required to formally recognise the shareholding. Consequently, BONI submitted the necessary information and waited for regulatory clearance. However, it was gathered that was expected to be a routine process stretched into a prolonged period of uncertainty. Over nearly three years, BONI repeatedly sought clarification on the status of

its investment. During that time, it was not granted shareholder recognition or board representation. In January 2024, the Bank of Zambia formally informed BONI that it did not recognise the firm as a shareholder in Investrust Bank. Three months later, the central bank placed Investrust Bank into liquidation. But BONI argues that while it was denied recognition as a shareholder when it sought governance rights, it effectively bore the full loss of a shareholder when the bank was liquidated, resulting in the wiping out of its investment. While in most established exchanges, the purchase of listed shares automatically confers ownership rights, subject only to clearly defined regulatory thresholds for significant holdings, the BONI case, however,

has prompted questions about whether share ownership on the Lusaka Securities Exchange is contingent on subsequent regulatory discretion rather than inherent at the point of purchase. For instance, if investors believe that share ownership can be retroactively denied, confidence in the exchange’s role as a reliable platform for capital formation may be undermined. Importantly, it was noted that the Bank of Zambia’s authority to vet and approve significant shareholders in regulated institutions is not in dispute, but the controversy centres on the absence of a clear resolution, including the non-refund of BONI’s investContinued on page 44

THISDAY • FRIDAY, DECEMBER 19, 2025

NEWS

WHEN TINUBU MET OGBIA BROTHERHOOD DELEGATION...

From right: President Bola Ahmed Tinubu; Obanobhan of Ogbia III, HRM Dumaro Charles Owaba; Obanobhan of Emeyal, HRM Wapabiama Amakiri; and Olalebhu Abureni, HRM Collins Daniel, during the president’s audience with the Ogbia Brotherhood delegation at the Presidential Villa, Abuja on Wednesday

US Reaffirms Commitment to Nigeria Trade, Investment as Five Nigerians Win ‘Made in America’ Awards Michael Olugbode in Abuja United States has reaffirmed its commitment to strengthening trade, investment and business ties with Nigeria, as the U.S. Embassy in Nigeria said American commerce in the country went beyond goods and services, to creating opportunities, driving innovation, and improving lives. The reaffirmation was made during the “Made in America, Loved in Nigeria” awards ceremony in Abuja. Speaking at the event, Country Public Diplomacy Counsellor of the U.S. Embassy in Abuja, Mr. Lee McManis, explained that the initiative was designed to highlight the depth of the economic partnership between both countries and the role American products and ideas played in supporting Nigerian businesses and communities. McManis stated that expanding trade and investment was a core priority of the U.S. mission, adding that economic cooperation between Nigeria

and the United States is built on mutual respect and shared prosperity. McManis recalled the U.S. Department of Commerce and Nigeria’s Ministry of Industry, Trade and Investment signed a Commercial and Investment Partnership (CIP) agreement, a five-year memorandum of understanding focused on agriculture, the digital economy, and infrastructure development. He stated that Nigeria was one of only five African countries to have such an agreement with the United States. McManis disclosed that more than 100 major American companies currently operated in Nigeria across sectors, such as manufacturing, energy, consumer goods, pharmaceuticals and technology, alongside numerous small and mediumsized enterprises. “These companies are driving innovation, creating jobs and delivering prosperity for both Nigerians and Americans. This is trade that transforms lives and builds opportunity on both

sides of the Atlantic,” he said. The event also featured the presentation of awards to winners of the “Made in America, Loved in Nigeria” video contest, which attracted entries from across the country. Participants used creative

skits to demonstrate how American-made products and innovations were integrated into everyday Nigerian life. Raheedat Fagbenle from Lagos State emerged overall winner of the contest, while Tito Abumere, also from Lagos,

placed second. Janefrancis Ugwu from Abuja came third, followed by Cyril Usheshe from Cross River State, in fourth position, and Timileyin Durotoye from Osun State in fifth place. According to McManis,

the winning entries highlight the reliability and quality of American products, as well as the way U.S. technologies empower Nigerian creatives, entrepreneurs and businesses to access new skills, knowledge and global markets.

Gbenga Hashim: We Are Not Intimidated by Attacks on PDP Warns against one-party agenda

Chuks Okocha in Abuja

Former presidential candidate, Dr. Gbenga Hashim, has declared that he is not intimidated by either legal or political manoeuvres aimed at weakening the Peoples Democratic Party (PDP), insisting that Nigeria’s multiparty democracy is too deeply rooted to be destroyed. In a strongly worded statement, Hashim said he was “not intimidated by the legal and

political subterfuges sponsored by the ruling APC”, stressing that no individual or party can monopolise power in Nigeria. According to him, Nigeria has historically embraced pluralism as a tool for managing its diversity, noting that the nation’s founding fathers deliberately chose a multiparty system at independence. “Nigeria has always been committed to multiparty democracy,” Hashim said. “Even in the First Republic, political power was never concentrated in the hands of

one man or one party.” He recalled that despite the towering influence of Sir Ahmadu Bello as leader of the Northern People’s Congress, other political forces such as Aminu Kano’s NEPU, J.S. Tarka’s Middle Belt Congress, and Sir Kashim Ibrahim’s Borno People’s Union coexisted with significant influence and representation. Hashim noted that similar political diversity thrived in the South West, where the Action Group competed with the NCNC, alongside

regional parties such as the Ibadan People’s Party. “Our democracy has never been a democracy of one star flying in its firmament,” he said. “In our sky are thousands of stars.” Drawing lessons from history, Hashim likened the current political climate to the failed self-succession agenda of late military ruler, General Sani Abacha, who attempted to impose himself as the sole presidential candidate of all five registered political parties at the time.

Women Empowerment: Ogun Creates 1,613 Affinity Groups Four Persons to Die By Hanging Over

James Sowole in Abeokuta

Ogun State has recorded a significant milestone in women empowerment with the formation of 1,613 Women Affinity Groups under the Nigeria for Women Project Scale-Up (NFWP-SU), emerging as a national reference point for inclusive grassroots development. Sequel to the achievement of the Ogun State, delegation of nine other states of the federation, are currently on a study visit to the state to

understudy its implementation model. The State Commissioner for Women Affairs and Social Development, Motunrayo Adijat Adeleye, disclosed this while addressing a delegation of officials from the visiting states at the Implementation support mission for Southern States held in Abeokuta. The commissioner attributed the success to the sustained commitment of the State Government under the leadership of Governor Dapo

Abiodun, likewise the wide acceptability of the project’s vision majorly by the community leaders, traditional rulers and market groups in addition to the ingenuity of the project team through strategic planning. She said, “Women Affinity Groups are the backbone of the Nigeria for Women Project Scale-Up Project (NFWP-SU) because they provide the primary platform through which women are mobilised, empowered, and reached at the grassroots.

Kidnapping in Akwa Íbom State Okon Bassey in Uyo

Akwa Ibom State High Court, has sentenced four members of a notorious nine-man kidnapping syndicate that terrorised residents of Ikot Abasi Local Government Area of the state and neighboring communities in Rivers to death by hanging. The convicts were found guilty of kidnapping an Anambra State-born businessman, Mr. Chijioke Anyanwu, proprietor of Jon KAMSY Supermarket, Ikot Abasi, after collecting a

ransom of N3 million from his family. The four condemned men were Marvelous Ndah, 38, a native of Ikot Iyire, Edemaya in Ikot Abasi Local Government Area; Anthony Anthony Akpan, 37, an indigene of Ekput in Ibiono Ibom Local Government Area; Aniema Eshiet, 34, from Oborenyin in Ikot Abasi; and Onyebule Gift Ogbonna, 41, from Omuma Local Government Area of Rivers State. They were standing trial alongside two other defendants,

Uche Success Nwokocha and Chidi Christian Nwokoma, who were discharged and acquitted for want of evidence linking them to the kidnapping of the late Anyanwu. The defendants were arraigned on a four-count charge bordering on conspiracy, contrary to Section 552 of the Criminal Code, Cap 38, Laws of Akwa Ibom State of Nigeria 2000, and kidnapping, contrary to Section 1(2) of the Akwa Ibom State Internal Security and Enforcement Law, 2009.

FRIDAY, DECEMBER 19, 2025 • THISDAY

NEWS

3RD GERMAN–NIGERIAN HYDROGEN SYMPOSIUM...

L-R: Head, H₂-Diplo – Decarbonisation Diplomacy, GIZ Germany, Mr. Hendrik Meller; Head, German–Nigerian Hydrogen Office, Ms. Kristina Fürst; Professor Emeritus, Usman Danfodiyo University, Prof. Abubakar Sani Sambo; Assistant Director, Federal Ministry of Environment, Dr. Asmau Jibril; Country Director, GIZ Nigeria/ECOWAS, Dr. Markus Wagner; Director, Economic Growth Department, Ministry of Budget and Economic Planning, Mr. Auwal Mohammed; and Ambassador of the Federal Republic of Germany to Nigeria, Ms. Annett Günther, at the 3rd German–Nigerian Hydrogen Symposium co-hosted by the German Federal Foreign Office, the Federal Ministry of Budget and Economic Planning and the Ministry of Petroleum Resources, in Abuja… recently

NHRC: Human Rights Regardless of Background, Circumstances Remains Our Mandate Kuni Tyessi in Abuja

The Human Rights Commission has underscored the significance of open discussions in promoting human rights

and protecting vulnerable populations in Nigeria. It says its mandate is to protect every human being, regardless of their background or circumstances, as this remains

crucial for building a tolerant and peaceful society. The Executive Secretary of the Commission, Tony Ojukwu stated this in Abuja during the 2025 Human Rights,

Sexuality and the Law Symposium themed, “Responsive Democracy: Protecting Human Dignity through Diversity, Equity & Inclusion”, which was organized by The Initiative for

Benue Government, UNICEF Partner to Strengthen Community Child Protection As Bauchi, UNICEF hand over 11 health facilities to contractors for revitalisation

George Okoh in Makurdi and Segun Awofadeji in Bauchi

The Benue State Government, in collaboration with the United Nations International Children’s Emergency Fund (UNICEF), and other partners, on Wednesday graduated 60 Auxiliary Social Workers (ASWs) to strengthen community-based child protection and improve social welfare service delivery across the state. In another related development, as part of efforts towards strengthening primary healthcare systems for children and mothers. the Bauchi State Government, in collaboration with United Nations Children’s Fund (UNICEF), has handed

over 11 primary healthcare facilities to contractors for revitalisation. The Benue programme, jointly sponsored by UNICEF, the Benue State Government, the Bureau of Local Government and Chieftaincy Affairs, and the Benue State Bureau for International Cooperation and Development (BICD), focuses on safeguarding the wellbeing of vulnerable children and families, particularly at the community and household levels. Speaking at the graduation ceremony themed “Building Community Resilience Through Professional Auxiliary Social Work,” the Commissioner for Women Affairs and Social

Welfare, Hon. Mrs. Theresa Apochi-Ikwue, described the initiative as a critical intervention addressing gaps in child protection services. “The Benue State Government plans to deploy these Auxiliary Social Workers to deliver child protection services at the community and household levels, especially in areas facing shortages of qualified social workers,” Mrs. Ikwue said. She added the programme aligns with the state government’s development agenda and global child rights goals, highlighting the strong commitment of the government and partners, including covering

tuition fees for the first batch of trainees. “This initiative underscores our resolve to safeguard children’s rights and wellbeing while strengthening grassroots social welfare systems,” the Commissioner stated. According to Mrs. Ikwue, the graduands, drawn from vulnerable populations, underwent rigorous training in case management, referrals, psychosocial support, and ethical service delivery, equipping them to handle child protection and social welfare cases effectively.

an initiative of the United Kingdom Foreign, Commonwealth and Development Office (FCDO), is being implemented by Tetra Tech International Development and executed by the Kukah Centre. At the ceremonial signing of the MoU at the State’s Ministry of Budget and Economic Planning, Wednesday, the Project Manager of Improving Community Security Initiatives for

Accountable Service Delivery, Bamber Terseer, said it will strengthen the state’s local security architecture. He said the project, which is being implemented in Katsina, Kaduna, Sokoto, Benue and Plateau States, will also enhance the legal framework and operational guidelines of state-owned security outfits for peace and development to thrive.

ernmental organization has launched a campaign aimed at preventing Intimate Partner Violence (IPV) in Nigeria and says it’s willing to partner with interested churches to ensure that digital tool is accessible, discreet, and easy to use. At the heart of this strategy will be the Intimate Relationship Indicators

Equal Rights (TIERs). He noted the Commission highlighted key aspects of human rights protection, including non-discrimination, right to life, freedom from torture, and protection from unlawful arrests and reiterated that these rights are fundamental to ensuring that every individual is treated with dignity and respect. According to him, “Open discussions play a vital role in raising awareness about human rights issues, promoting understanding and empathy, and encouraging tolerance and acceptance. “By engaging in sincere discussions, Nigerians can work towards creating a society where everyone’s rights are respected and protected. “The Commission emphasizes that human rights protection is a collective responsibility, and everyone has a role to play in promoting a culture of respect and protection for all individuals. The Commission urges Nigerians to take advantage of open discussions to address human rights issues

and promote inclusivity.” In his address, Executive Director of The Initiative for Equal Rights (TIERs) Afolabi Aiyela said Nigeria today is navigating a period of profound insecurity, economic strain, and declining trust in public institutions. He remarked that from the tragic violence in different states, to the relentless rise in kidnappings, hunger, and structural inequalities, citizens across the country are calling and pleading for justice, for accountability, and for governance that listens. He added that the theme could not be timelier, more so as the nation is looking toward upcoming elections and will be confronted with the urgent question of what democracy truly mean and as well as its capacity to protect everyone. “Those of us who live at the margins - Key populations, persons living with HIV, persons with disabilities, women, young people, ethnic and religious minorities - continue to bear the heaviest cost of criminalization, stigma, and neglect.

Citizens’ Gavel Launches Campaign for Churches to Prevent Intimate Partner Violence Kukah Centre, Katsina Sign Kuni Screening, IRIS, a digital He said the goal of IRIS Tyessi in Abuja behavioural assessment will not be fault-finding or MoU on Peace-building Project Citizens’ Gavel, a nongov- tool that will be customised labelling, but growth and as

Francis Sardauna in Katsina

The Kukah Centre has signed a Memorandum of Understanding (MoU) with the Katsina State Government to implement its Improving Community Security Initiative for Accountable Service Delivery project in the state. The project, supported by Strengthening Peace and Resilience in Nigeria (SPRiNG),

and integrated into the pre-marital counselling processes of interested churches. In a statement signed by its Programmes Lead, Oluwatosin Ariyo, it says at a time when IPV continues to affect countless homes across Nigeria, IRIS represents a shift from reactive responses to proactive, early-stage prevention.

a diagnostic tool, it will be built on the understanding that healthy relationships require self-awareness, accountability, and intentional effort. He said that in most cases intervention only occurs after serious emotional, psychological, or physical harm has already taken place. This campaign aims to change this trajectory.

THISDAY • FRIDAY, DECEMBER 19, 2025

NEWS

AWARD WINNERS FROM THE MANDELA WASHINGTON FELLOWSHIP...

United States Consul General Rick Swart and award winners from the Mandela Washington Fellowship Awards Ceremony in Lagos

Petroleum Marketers Back In-country Refining, Oppose Unbridled Fuel Importation Say reckless issuance of licenses distort market dynamics Urge new NMDPRA chief to prioritise national interest

Emmanuel Addeh in Abuja

Independent Petroleum Marketers Association of Nigeria (IPMAN) yesterday opposed the uncontrolled importation of petroleum products as well as what it described as the “reckless” issuance of import licenses by the downstream/ midstream regulator. In a briefing in Abuja on recent happenings in the sector, National President of IPMAN, Abubakar Maigandi, stated that the position of the organisation remained the deepening of domestic refining to eradicate import of petroleum products into Nigeria. Maintaining that the continuous import of fuel was not an acceptable parallel business model in the sector, IPMAN expressed delight at the recent agreement by Dangote Petroleum Refinery to begin the supply of petroleum products directly to its registered members, as well as its free delivery to their filling stations anywhere and everywhere in

Nigeria, beginning January 2026. IPMAN also applauded the support of Chairman of Dangote Petroleum Refinery, Aliko Dangote, to the federal government, which, according to the group, had become evident in the regular reduction of petroleum pump prices nationwide. Maigandi assured that as the group with the highest number of players in the petroleum downstream supply chain, controlling over 80 per cent of the petrol retail market, there will be no gap or scarcity in supply to Nigerians. He said the direct supply to IPMAN members and the free delivery to their filling stations would lead to further decrease in the pump price of the products. Maigandi called on all IPMAN members nationwide to prioritise patronising the Dangote Refinery in the purchase of products, since the facility already offered the most affordable prices for all marketers today. He stated, “At IPMAN we

have no doubt as to the viability of the oil and gas policies being initiated by the federal government, and we have ceaselessly called and sought for enhanced cooperation across all levels of governance in the oil and gas sector. Hence our repeated persuasion to always partner the Dangote refinery, to ensure the steady availability of PMS products. “The focus of the Dangote and IPMAN partnership has always been geared towards

making life better for Nigerians. And of course, this blooming partnership would never have been possible without the pragmatic leadership of President Bola Ahmed Tinubu, and his sound judgment in readjusting the leadership of the NMDPRA and the NUPRC. “Our position has always been to deepen domestic refining in order to eradicate imports of petroleum products. Continuous import is not an acceptable parallel business

model because issuing import licenses recklessly distorts market dynamics, drains foreign exchange, enthrones poverty, destroys jobs, and scares potential investors away.” While congratulating the new heads of the oil and gas regulatory bodies, IPMAN reminded them of the outstanding bridging claims owed to its members, totalling over N190 billion. It specifically called on the new leadership of Nigerian

Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to immediately make the debt a cause for serious concern. Maigandi stated, “The independent petroleum marketers normally consider the interest of the government. Since Bola Tinubu has already allowed them to go and do other things, and he has brought in new leadership, actually we support what Mr. President has done.

PDP Faction Announces Plans for National Convention After Its Congresses Next Year Challenges Turaki group to show evidence of INEC’s recognition

Chuks Okocha in Abuja

Factional leadership of the Peoples Democratic Party (PDP)loyal to the Minister of the Federal Capital Territory, Nyesom Wike, has said it would conduct a national convention early next year

after the conduct of its state congresses where the exercise has yet to take place. It also called on the Kabiru Tanimu Turaki-PDP to produce evidence of recognition by the Independent National Electoral Commission (INEC) of the November 15 and 16 national convention in Ibadan. Addressing reporters after the factional National Caretaker Committee, the

new factional spokesman, Haruna Mohammed, in a communique of the meeting said, ‘’the NWC has approved the calendar for the conduct of state congresses starting from January 9th, 2026, after which the national convention follows.” The communique stated that no formal date has been announced for the national convention but explained

that it could only come after a conclusion of the state congresses we just mentioned. It listed states where fresh congresses would take place as Borno, Bauchi, Oyo, Zamfara, Yobi, Ekiti, Bayelsa, Enugu, Ebonyi, Anambra, Delta, Taraba, Kano, and Lagos. The communique also announced the expansion of the National Caretaker Committee of the party.

Kogi to Domesticate Nigeria Tax Act 2025, Commences Operation January 1st, 2026 Nigeria’s Biggest Fashion Extravaganza,

Ibrahim Oyewale in Lokoja

Ahead of commencement of the new tax administration in the country, the Kogi State Government has disclosed the state is set to domesticate Nigeria’s new Tax Act 2025 which will be implemented in the state by the Kogi State Internal Revenue Service (KGIRS) as from January 1st, 2026. The state governor, Usman Ododo made this known while speaking at the opening ceremony of the stakeholders meeting

with theme Understanding Nigeria’s Tax Act 2025 held in Lokoja yesterday. Ododo expressed appreciation at the presence of the Chairman of the Kogi State Internal Revenue Service, the Directors of Finance of various Ministries, Departments, and Agencies (MDAs), and all distinguished participants. Your presence clearly demonstrates a shared commitment to strengthening tax administration and promoting voluntary compliance across Kogi State. The governor, represented

by the Special Adviser on Tax, Rahman Ichanyi, explained that good governance and economic reforms continues to enhance fiscal discipline and sustainable development in the state. The governor also lauded the management and staff of KGIRS for their professionalism, dedication, and proactive engagement with stakeholders. This sensitization exercise reflects their resolve to ensure clarity, transparency, and inclusiveness in the implementation of the new tax framework.

AFWN 2025, Comes Alive on Dec 20-21 Mary Nnah

Africa Fashion Week Nigeria (AFWN) has officially unveiled its theme for the 2025 edition, “The Naija December Experience”, a two-day extravaganza that promises to revolutionize the African fashion landscape. The event scheduled for December 20-21, 2025, will bring together designers, industry experts, and fashion enthusiasts to celebrate the richness and diversity of African design

and culture. AFWN 2025 aims to transcend the traditional fashion week format by incorporating a range of exciting activities, including curated runway shows, a designer marketplace, live DJ sets, musical performances, sustainable design activations, and exclusive after-party experiences that showcase Lagos’ vibrant nightlife and hospitality. With a focus on commercial viability and cultural relevance,

the event promises to deliver even more opportunities for new and established designers to shine. As a leading platform for African fashion, AFWN spotlights designers, supports talent development, and connects African creativity with global markets. The event blends runway, commerce, and culture to create commercially relevant opportunities for designers and a large cultural moment for Lagos and the continent.

FRIDAY, DECEMBER 19, 2025 • THISDAY

NEWS

THIRD EDITION OF THE LAGOS ECONOMIC ROUNDTABLE...

L-R: Lecturer, University of Lagos (UNILAG), Prof. Olufemi Shuaib; Lagos State Commissioner for Physical Planning and Urban Development, Dr. Oluyinka Olamide; Special Adviser on Economic Planning and Budget, Mr. Lekan Balogun; Professor of Geography (Transportation, Logistics and Spatial Planning), UNILAG, Prof. Samuel Iyiola Oni; Dr. Amina Olohunlana of UNILAG; Chief Executive Officer, Chocolate City, Mr. Abuchi Peter Ugwu; and Director, Economic Intelligence Department, MEPB, Mr. Alao Akinkunmi, during the third edition of the Lagos Economic Roundtable: Economic Outlook 2026 Discourse, held at Protea Hotel, CBD, Ikeja, Lagos… recently

Governors Across All States, ONSA Pledge Tight Security for an Incident-free Yuletide Katsina deputy gov says security challenges overexaggerated by media

Chuks Okocha in Abuja and Francis Sardauna in Katsina

The Nigeria Governors’ Forum (NGF) has pledged, in collaboration with office of the National Security Adviser, to tighten security measures across the country to ensure an incident-free festive period. The governors made the commitment in a communiqué issued

after the NGF eighth meeting on Wednesday in Abuja signed by its Chairman, Governor AbdulRahman AbdulRazaq of Kwara State, and read by Governor Dapo Abiodun of Ogun State. Abiodun said members of the NGF, at the meeting deliberated on issues including security affecting the country. “The forum received a com-

munication from the Office of the National Security Adviser (ONSA) calling for heightened security preparedness across all states during the 2025 festive season, due to increased population movements, large public gatherings, and heightened public safety risks. “Governors are committed to strengthening interagency coordination, protecting critical

infrastructure, and maintaining a visible security presence in identified hotspots to ensure a safe, incident-free festive period nationwide,” he said. Abiodun disclosed that the governors received notification from the World Bank confirming the effectiveness of the additional financing for the Nigeria Community Action for Resilience and Economic Stimulus (NG-CARES)

Defecting to APC Was An Easy Political Decision, Declares Rivers State Gov, Fubara Urges loyalists to support Tinubu’s re-election

Adedayo Akinwale in Abuja and Blessing Ibunge in Port Harcourt

Rivers State Governor, Siminalayi Fubara, has said he didn’t find it difficult defecting to the ruling All Progressives Congress (APC), saying it was an easy one. The governor also added that he had no regrets leaving the Peoples Democratic Party (PDP), saying the party was never there for him throughout his political travails. Fubara, who spoke to journalists after his official familiarisation visit to the national leadership of the party in Abuja on Wednesday night, said moving to APC was one of the easiest political decisions he took. His words: “I think my transition was one of the easiest things I have done in my life. I call it easy because saying thank you is very simple. Showing appreciation and gratitude is easy.

“My joining the All Progressives Congress is to say thank you to Mr President and to join hands with other progressives to develop my state and Nigeria at large. It wasn’t a difficult decision; it was easy. If you know my story, you should understand that. “I was in my former party, just there. During the crisis, you can’t associate me with any group. I was just, let me say, at the balcony—I wasn’t inside the house; I was not outside, at the balcony.” Stating his reason for visiting the party secretariat, Fubara noted that he couldn’t belong to a house without first coming into the house and understanding how it was arranged. “I felt it would be proper for me to visit the national secretariat to familiarise myself with the members and the operations. This way, when I come here next time, it won’t feel as if I am a new person. “So, I am here to assure

you that I have come in, and we will work together to ensure that this party becomes greater than it is. The greatness we all desire from this party is the success of Mr President. “We cannot grow or

expand if Mr. President is not succeeding. I can assure you that we are already showing evidence of success in my state through what we are delivering and the number of people affirming their support,” he said.

programme. This, according to him, enabled continued disbursements to states to support livelihoods, food security, public works, and resilience-building interventions. “Governors renewed their commitment to sustaining implementation momentum, ensuring timely reporting, and maximising fund utilisation to deliver measurable outcomes for vulnerable households.. “The forum noted the outcome of the third edition of the Primary Health Care (PHC) Leadership Challenge Awards, held on Dec. 12, which recognised 13 states for outstanding progress in strengthening PHC systems. “Yobe State emerged as the national overall winner, while Zamfara, Nasarawa, Abia, Rivers, and Osun topped their respective geopolitical zones; Kwara, Gombe, Kaduna, Anambra, Bayelsa, and Ogun were the first runners-up. “Governors acknowledged that the results reflect the value of sustained political leadership

and peer-driven accountability, and committed to building on these gains to further strengthen primary health care delivery nationwide,” he said.

Katsina State Security Challenges Are Overexaggerated By Media, Says Dep Gov The Katsina State Deputy Governor, Faruk Lawal, has accused the media of overexaggerating the security challenges bedevilling some farming communities in the state. Lawal, who spoke at the opening of the 18th meeting of the National Council on Environment in Katsina, claimed that the media narratives on insecurity in the state largely did not reflect the realities. He explained that Katsina remained a peaceful and conducive state for living and commercial activities because of the security measures initiated and implemented by the government.

AT APC CAUCUS MEETING, TINUBU ASSURES NIGERIANS STATE POLICE WILL BECOME REALITY inclusive growth.” Uzodimma commended Tinubu for a sterling performance since he assumed office in 2023, saying, “His bold economic policies have enabled us recover lost grounds in the economy.” He commended the president for the emergency on national security, while also lauding him for the cordial and smooth working relationships between the federal government and the sub-nationals. In his remarks, Yilwatda showcased the personalities of politicians, who had defected from PDP as a significant breakthrough ahead of 2027 general election. The erstwhile PDP governors, who made their first appearances

at the APC caucus meeting, were Duoye Diri (Bayelsa), Peter Mbah (Enugu), Siminalayi Fubara (Rivers), Umo Eno (Akwa Ibom), Sheriff Oborehwori (Delta), and Kefas Agbu (Taraba). Yilwatda thanked Tinubu, Shettima, the leadership of the National Assembly, and APC governors for the support since he took over. He declared that the party was supporting Tinubu with robust membership drive and significant defections from the opposition party to the ruling party. He also thanked the president for his leadership that had brought cohesion. The APC chairman empha-

sised the promotion of internal democracy and appealed to party stakeholders to support the nationwide membership registration. Party chieftains who attended the meeting included former Vice President Yemi Osinbajo; pioneer chairman of APC, Chief Bisi Akande; former Governor of Ogun State, Aremo Olusegun Osoba; and former Governor of Osun State, Adegboyega Oyetola. There were also former Governor of Cross River State, Professor Ben Ayade; former Governor of Taraba State, Jolly Nyame; former Governor of Delta State, Ifeanyi Okowa; and former Senate President, Ken Nnamani.

Others were former Senate President, Anyim Pius Anyim; former Deputy Senate President, Ovie Omo-Agege; Chairman, National Drug Law Enforcement Agency, Brigadier-General Buba Marwa (rtd); former Governor of Bauchi State, Isa Yuguda; former Governor of Kogi State, Yahaya Bello; and Senator Adams Oshiomole. Also present at the meeting were Senate Leader, Senator Opeyemi Bamidele; Senators Gbenga Daniel, Aliyu Wammako, Adamu Aliero, Ahmad Lawan, and Simon Lalong; House of Representatives leader, Professor Julius Ihonvbere, and former Deputy Speaker of the House of Representatives, Hon Idris Wase.

THISDAY • FRIDAY, DECEMBER 19, 2025

NEWS

YOUTH ENGAGEMENT IN GREEN SKILLS ACQUISITION...

L-R: Environmental, Social and Governance Consultant, Kevron Group, Mr. Shedrach Fowode; EMS Consultant, Kevron Group, Mr. Taiwo Arowora; Executive Assistant to the Governor on Environmental Protection, Mr. Tolulope Adebowale; Participant, Miss Mariam Otubanjo; and a member of African Lending Hands Foundation, Mr. Ayodele Afolabi, at the closing ceremony of the Green Skills and Environmental Sustainability Cohort 1.0 organised by the Lagos State Environmental Protection Agency (LASEPA) in conjunction with Kevron Group, for youth engagement in green skills acquisition, held in Ikeja, Lagos… recently

PSC Elevates One DIG, Seven AIGs, 13 CPs, 30 DCPs, Others to New Ranks Linus Aleke in Abuja

The Police Service Commission (PSC) has approved the promotion of hundreds of senior officers of the Nigeria Police Force to higher ranks, following the successful conclusion of written examinations and oral interviews held on Wednesday, 17 December 2025, at the Commission’s Corporate Headquarters in Jabi, Abuja.

The promotion exercise was presided over by the Chairman of the Commission, retired Deputy Inspector-General of Police, Hashimu Salihu Argungu. In a statement by the Head of Protocol and Public Affairs, Mr Torty Njoku Kalu, the Commission said the promotions were based strictly on merit, performance and capacity to shoulder higher responsibilities.

According to the statement, Assistant Inspector-General of Police Mohammed Usman Gumel was elevated to the rank of Deputy InspectorGeneral of Police (DIG). Prior to his promotion, he served as the AIG in charge of the Community Policing Project (CPP), Research and Planning Department at the Force Headquarters, Abuja. The Commission also promoted seven Commis-

sioners of Police to the rank of Assistant Inspectors-General of Police. Those elevated were Ihebom Chukwuma of the Force Criminal Investigation Department, Abuja; Maxwell Olatokunbo of the K9 Unit; Abaniwonda Olufemi, Delta State Command; Alonyenu Francis Idu, Bayelsa State Command; Lawal B. Ayodeji of the Anti-Human Trafficking Unit, FCID Annex, Lagos;

Agene Emmanuel of FCID, Kaduna; and Vungmoh S. M. Kwaimo of the Railway Command. In addition, 13 Deputy Commissioners of Police were promoted to the rank of Commissioners of Police. They included Babalola Ayodeji Johnson of the Nigeria Police Force National Cybercrime Centre; Ali Umar Fage of the Directorate of Forensic Analysis, Port Authority,

IN MAJOR DIPLOMATIC RESET, SENATE CONFIRMS 64 AMBASSADORS

Dahiru (Kaduna); Ambassador Abdussalam Zayyad (Kano); Ambassador Shehu Barde; Ambassador Aminu Nasir (Katsina); Abubakar Musa; Amb. Haidara Mohammed Idris (Kebbi); Amb. Bako Adamu Umar (Kogi); and Amb. Sulu-Gambari Olatunji Ahmed (Kwara). Also on the career list were Amb. Ramat Mohammed Omobolanle (Lagos); Amb. Shaga John Shamah (Nasarawa); Hamza Mohammed Sallau and Amb. Ibrahim Danlami (Niger); Adeola-Ibrahim Mopelola (Ogun); Reuben Abimbola Samuel (Ondo); Amb. Akande Wahab Adekola (Osun); Amb. Arewa Esther (Oyo); Amb. Gergadi Joseph John (Plateau); Amb. Luther Ogbomode AyoKalata (Rivers); Danladi Yakubu Nyaku (Taraba); and Bello Dogon-Daji Haliru (Sokoto). The confirmation effectively clears the way for the deployment of the ambassadors to Nigeria’s missions abroad, filling long-standing vacancies and strengthening the country’s diplomatic presence across key global capitals. Observers said the mix of career diplomats and highprofile political appointees signalled a deliberate attempt by the federal government to recalibrate Nigeria’s foreign policy engagement, leverage

political networks and restore momentum to its diplomatic corps. Meanwhile, the joint Senate Committee on Petroleum Resources (Upstream, Downstream and Gas) yesterday, in a rigorous exercise held at the National Assembly, screened Oritsemeyiwa Eyesan, nominated by Tinubu as Chief Executive Officer of Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and Engineer Saidu Mohammed, nominated as CEO of NMDPRA. Eyesan and Mohammed assured senators that they would leverage the Petroleum Industry Act (PIA) to reposition the industry, boost production, attract investments and translate Nigeria’s vast hydrocarbon resources into tangible economic value. Tinubu had forwarded their names to the senate following the resignation of the pioneer chief executives of the two agencies, Gbenga Komolafe (NUPRC) and Farouk Ahmed (NMDPRA), both appointed in 2021 after the enactment of the PIA. Addressing the committee, Eyesan emphasised collaboration, technology and data-driven regulation as the pillars of her proposed stewardship of the upstream regulator. She said, “One of the core pillars for me is collaboration,

not just with science, but effective stakeholder collaboration.” She stated that progress in her previous roles was achieved by identifying key stakeholders, confronting shared pain points and jointly developing solutions. Eyesan lamented Nigeria’s continued reliance on manual systems in a rapidly evolving global energy industry, warning that the country is “leaving value on the table” by failing to fully digitise operations. She said, “Without real numbers, you don’t know what you are dealing with. If you don’t have a digitised system in today’s operation, you are losing money.” Eyesan told senators that asset integrity and robust regulatory frameworks would also be prioritised. The NUPRC nominee stressed that regulators must work closely with industry players to develop enabling laws, regulations and policies, pledging to partner the senate to channel the sector in the “right direction”. Eyesan described the PIA as “a valuable document” that must be fully leveraged to meet national objectives, especially as the world transitions at “jet-speed rates”. Eyesan, a University of Benin economics graduate, brings nearly 33 years of experience from the Nigerian National

Petroleum Company Limited (NNPC) and its subsidiaries. She recounted her role in restoring investor confidence during periods of divestment threats, resolving multi-billiondollar disputes with partners, advancing deep offshore investments and signing Nigeria’s first non-associated gas development contract. Eyesan also highlighted her contribution to increasing crude oil production from about 1.3 million barrels per day to 1.8 million barrels per day during her tenure as Executive Vice President, Upstream. “Having participated as an operator and in developing resources, I believe I have gathered enough experience to regulate the industry and ensure that we maximise the huge opportunities in oil and gas,” she said. In his presentation, Mohammed focused on restoring discipline to Nigeria’s midstream and downstream gas and petroleum value chains, particularly through strict enforcement of contracts and quality standards. He said, “Gas is a commodity that is sold before you even start producing it. There must be contracts, from the producer to the transporter to the eventual user.” He said the absence of enforceable agreements had

undermined gas-to-power supply and infrastructure development. Drawing from his experience as Managing Director of the Nigerian Gas Company and Kaduna Refining and Petrochemical Company, Mohammed warned against neglecting local capacity. He said, “We must protect our local interests; otherwise, they will go the way of the textile industry.” He also acknowledged the importance of meeting domestic demand before exporting surplus products. Mohammed pledged to operationalise the Gas Network Code to impose discipline across the system, revive pipeline transportation of petroleum products, and attract billions of dollars in investment for gas processing plants and infrastructure. Mohammed also underscored the importance of quality assurance, promising to strengthen in-house laboratory capacity at the NMDPRA to ensure product standards. Born in Gombe in 1957, Mohammed, a chemical engineering graduate of Ahmadu Bello University, Zaria, served across the oil and gas value chain, including as Group Executive Director/ Chief Operating Officer, Gas &

Lagos; Cyril Uche Obiozo, Administration, Cross River Command; and Adepegba K. Adetoye, Administration, Edo Command. There was also Tabitha Bako of the Anti-Human Trafficking Unit, FCID; Ofem Ikpi Arikpo, Bayelsa Command; Edwin Ogbeghagha, Operations, Zone 17 Akure; Audu Garba Bosso, Operations, Borno State Command; and Samuel Yerima Gimba, Benue State Command.

Power Directorate at NNPC, and as chairman of several energy sector boards. He played key roles in landmark projects, such as the Escravos–Lagos Pipeline Expansion, the Ajaokuta–Kaduna–Kano Gas Pipeline and Nigeria LNG trains. Chairman of Senate Committee on Petroleum Resources (Downstream), Senator Sumaila Kawu, said the screening came at a “very critical” time for Nigeria, stressing the urgency of boosting energy production to meet national development goals. Kawu indicated that further engagements with the nominees would continue into January to deepen collaboration between the legislature and regulators. Chairman of the Senate Committee on Interior, representing Edo North Senatorial District, Adams Oshiomhole, added humour to the event when he jokingly pledged to drink when he got home to celebrate the exit of the former regulators from the oil and gas sector. With the screening concluded, the senate is expected to consider the committee’s report and move towards confirming the nominees, setting the stage for a new leadership phase in Nigeria’s oil and gas regulation under the Tinubu administration.

FRIDAY, DECEMBER 19, 2025 • THISDAY

NEWS

ALPHA MORGAN BANK SANGO-OTA BRANCH OPENING...

L-R: Divisional Head, Retail and SME Banking, Alpha Morgan Bank, Mrs. Kafilat Salako-Taiwo; Mr. George Imade; Managing Director, Alpha Morgan Bank, Mr. Ade Buraimo; Deputy Governor of Ogun State, Engr. Mrs. Noimot Salako-Oyedele; the Olota of Ota, His Majesty Prof. Adeyemi Obalanlege, Ph.D, Lanlege Ekun II; and Oba Clement Olusegun Akinyemi Ajana of Ijana Otta, Awori land, at the opening of Alpha Morgan Bank’s Sango-Ota branch, on Tuesday, in Ogun State

Keyamo, Walson-Jack Officially Launch 1Gov ECMS for Aviation Ministry Kasim Sumaina in Abuja

Minister of Aviation and Aerospace Development, Festus Keyamo, and Head of the Civil Service of the Federation, Mrs. Didi Esther Walson-Jack, Thursday unveiled the Enterprise Content System (ECMS) for the aviation ministry. Walson-Jack, in her address at the official launch of the system in Abuja, said the launch was not just about technology. She said it was about safety, accountability, institutional memory, and service excellence. It was about ensuring that

aviation and aerospace policies, certifications, programmes, and oversight functions were supported by reliable records and timely access to accurate information, without unnecessary delays, she further clarified. Walson-Jack stated, “It is a pleasure to be here today at the Federal Ministry of Aviation and Aerospace Development for the official launch of the Enterprise Content Management System. “Any day we gather to reduce paper, speed up work, and locate files without embarking on a search-and-

rescue mission is a good day indeed. This ministry occupies a strategic position in Nigeria’s national development architecture, enabling connectivity, trade, tourism, security, and technological advancement. “Today’s event is far more than the deployment of a digital system. It is a deliberate statement of intent by a ministry whose mandate spans aviation regulation, airport development, air transport services, meteorology, and the expanding aerospace ecosystem.” The head of service asserted that in a sector where safety, accuracy, and timeliness were

non-negotiable, relying on paper files that occasionally developed wings of their own was no longer sustainable. She said, “I commend the leadership of this ministry for the foresight and resolve that have brought us to this Go Live event, and I applaud the directors and staff for embracing change. “In a technically intensive ministry where documentation underpins safety standards and international obligations, choosing to go digital is not just progressive but essential.” Walson-Jack said, “With today’s launch, I am pleased

to formally welcome the Federal Ministry of Aviation and Aerospace Development into the growing community of Enterprise Content Management System users across the Federal Civil Service. “You are joining a movement that is discovering, sometimes as pleasant surprise, that digital files do not hide in cupboards, disappear into drawers, or wait patiently for someone to remember where they were kept. “The deployment of the ECMS on the 1Gov Cloud platform represents a fundamental shift in how Public Service business is conducted. “Through this system, the ministry will benefit from secure digital records, automated

workflows, electronic approvals, interoperability, and real-time collaboration.” She said the most important feature of the system was that decisions would be driven by timely access to information rather than physical location of files. “This milestone places the ministry firmly on track to meet the federal government’s directive for full digitalisation of work processes by 31 December 2025,” she stated. Walson-Jack said, “The era of paper-based processing within this ministry must give way to disciplined digital practice. “All official correspondence, therefore, should henceforth be routed through the provided link.”

DSP Commits Suicide over Alleged Link With Bandits, ACP Slumps, Dies in Ebonyi BONI, INVESTRUST DISPUTE RAISES QUESTIONS Benjamin Nworie inAbakaliki andLaleye Dipo inMinna

A Deputy Superintendent of Police attached to Mopol 12 in the Paikoro Police station in Minna, Niger state, DSP Isah Abdullahi, alias Kunkuru, has committed suicide over alleged link with bandits. Also, in Ebonyi State, an Assistant Commissioner of Police (ACP), Ogbon-Inu Taiwo Popoola, has slumped and died during a management meeting. Abdullahi until the time he took his life was in charge of the armoury in the police station. THISDAY gathered that some bandits, who operated around Erena in the Shiroro Local Government Area of the state, were arrested and taken to Abuja for investigations by the office of the National Security Adviser (ONSA). During interrogation, the bandits, according to findings, revealed that one Inspector John Moses attached to the Niger

State Government House was the person supplying them with arms and ammunition. It was learnt that operatives from the office of the National Security Adviser swooped on Minna during which they took away John Moses to Abuja for interrogation. John Moses, reports further stated, disclosed to the operatives during investigations that it was his brother DSP Isah Abdullahi alias Kunkuru, who was providing the arms and ammunition he sold to the bandits. It was learnt that investigators from the NSA’s office and those of the Commissioner of police, Niger State, combined and arrested DSP Abdullahi. He was then taken to the armoury for on the spot investigations of arms and ammunition in the armoury. Since the armoury was electronically controlled and only the DSP had the mechanism to open it, he was said not to

be handcuffed. Investigation revealed that as soon as the armoury was opened the deceased taking advantage of the dark environment went to a section of the facility where he had kept a loaded pistol picked it up, put it to his head and pulled the trigger, instantly blowing off his head. THISDAY learnt that the four officers that accompanied the deceased to the armoury were immediately arrested and facing orderly room trial for alleged “negligence”. A special team from the office of the NSA is said to be guarding the armoury 24 hours pending when a solution would be found to its opening and closing. Informed sources also told THISDAY that the deceased DSP was reported to own at least 2 houses in choice areas of Minna and a number of cars. When contacted, the Commissioner of Police, Mr. Adamu

Elleman, confirmed the story saying, Inspector John Moses is still facing investigations in the office of the National Security Adviser in Abuja. Elleman, recounting how the DSP killed himself, said the deceased “smartly brought out a pistol and shot himself when he started bringing out boxes that were supposed to contain ammunition and they were empty.” The police boss however said an autopsy would be carried out on the body of the deceased to determine actual cause of death.

ACP Slump, Dies in Ebonyi In Ebonyi, an Assistant Commissioner of Police (ACP), Ogbon-Inu Taiwo Popoola, has died, after slumping during a management meeting. The death occurred at about 10:30 a.m. on Tuesday at the office of the Commissioner of Police in Abakaliki, the Ebonyi State capital.

OVER INVESTOR PROTECTION IN ZAMBIA ment following the refusal to recognise its shareholding. Therefore, BONI is seeking the return of its capital and compensation estimated at about $40 million, a figure considered small compared to the potential reputational cost to Zambia’s financial markets. Although Prest has publicly expressed respect for President Hichilema and his pro-investment agenda, describing him as a strong advocate for Zambia’s economic potential, he has also stressed that governance failures must be confronted transparently if confidence is to be maintained. In that sense, the BONI affair has become a test case for whether institutional practices can keep pace with political commitments to reform. The issue has resonated particularly strongly within African investment circles, where information travels

quickly and perceptions shape capital flows. While Zambia continues to position itself as a regional gateway to a market of several millions of people, it is believed that unresolved disputes such as this, risk overshadowing those ambitions. “What alarms them is the refusal, to date, of any Zambian authority — BoZ, LuSE or the Ministry of Finance — to return BONI’s funds. BONI’s claim for the return of its capital and $40 million compensation is modest compared with the reputational damage now hovering over Zambia’s markets,” one source said. While Zambia eagerly welcomed Dangote and Elumelu, observers say it’s curious that it did not appreciate how quickly news of BONI’s treatment would reach their peers, and how deeply it could shape perceptions of Zambia’s institutional reliability.

friday DECEmber 19, 2025 • T H i s d ay

NEWS

BEHOLD THE NEW INVESTMENT LAW…

L-R: Director, Nasarawa State University Keffi Institute of Capital Market Studies, Prof. Uche Uwaleke(left), receiving a copy of the Investment and Securities Act, 2025, from the Chairman, Securities and Exchange Commission, Malam Mairiga Alyu Katuka, during a visit to the Institute in Nasarawa State recently

Police Apprehend Cyber Fraud Suspect for Microsoft 365 Cyber Attacks Linus Aleke in Abuja

The Nigeria Police Force National Cybercrime Centre (NPF–NCCC) has apprehended a suspected cyber fraudster linked to coordinated attacks on Microsoft 365 email platforms used by corporate organisations. The arrest followed an intelligence-led investigation triggered by credible information from Microsoft Corporation in the United States, conveyed

through the Federal Bureau of Investigation (FBI). The intelligence exposed the deployment of a sophisticated phishing toolkit, known as RaccoonO365, designed to compromise Microsoft email accounts. Addressing journalists in Abuja, the Force Public Relations Officer, CSP Benjamin Hundeyin, explained that the toolkit was used to create fake Microsoft login portals

that closely mimicked legitimate authentication pages. Unsuspecting users were deceived into

entering their credentials, which were then harvested and used to gain unauthorised access to corporate, financial

and educational email systems. According to him, the intelligence prompted a coordinated operation

by the NPF–NCCC in collaboration with Microsoft, the FBI and the United States Secret Service.

Contempt: Kwara Assembly Suspends Member for 3 Months Hammed Shittu in Ilorin

Kwara State House of Assembly has suspended member representing Edu State constituency in the assembly, Hon. Saba Yisa Gideon, for three months after he was found to have recorded a meeting held behind closed doors and

shared the audio with an unauthorised person. At the plenary sitting of House yesterday in Ilorin, Hon Gideon, however, confessed to committing the alleged offence. The motion, moved without notice by the leader of the House, Hon. Abdulkadir Magaji, cited

Order 4, Rule 14 of the House’s privileges rules and Section 14(2) of the Legislative Houses (Powers and Privileges) Act 2017. Members who contributed to the debate included: Hon. Ganiyu Folabi Salaudeen representing Omupo state constituency, Hon.

Musa Kareem of Patigi state constituency and Hon. Owolabi Rasaq of Shaare Oke ode constituency. Others were Hon. Abdullahi Halidu Danbaba of Kaiama/Kemanji// Wajibe constituency and Hon. Oniboki Yunusa of Afon constituency.

and Investment Limited has stated that it’s expanding its real estate footprint with two major projects that will reshape tourism and luxury living in Lagos. The Managing Director

to journalists in Lagos, saying the waterfront development projects are Nautica Rise and Nautica Beach Resort. According to him, the company’s journey over the past decade has been

real estate development. He said Cruxstone has been in the industry for about 10 years, starting primarily with real estate, “but our vision has always gone far beyond that. The company’s

to this philosophy. The 12-story residential towers, located at Victoria Island, are designed with a blend of hospitality and lifestyle features more commonly associated with five-star hotels.”

Alex Enumah inAbuja

sidelining the Cross River State Chairman of the party, Alphonsus Ogar Eba. Justice J. E. Obanor, made the order yesterday, December 18, while delivering ruling in an exparte application brought by Eba. The suit marked: FCT/HC/CV/5197/2025,

Okon: PSIN Remains Cruxstone Unveils Nautical Rise, Beach Projects to Boost Tourism /CEO of Cruxstone, guided by a long-term, flagship project, Iconic Ayodeji Ake Adetoro Bank- future-focused vision that Towers in Victoria Island, Work in Progress Cruxstone Development Dr. Omotoye, disclosed this goes beyond conventional stands as a testament Kasim Sumaina in Abuja

The Administrator/Chief Executive Officer, Public Service Institute of Nigeria (PSIN), Ms Imeh Okon, has said that the institute remains a work in progress, but that the foundations are now firmer than they were 100 days ago. Okon made the disclosure when the House of Representatives Committee on Public Service Matters paid an oversight visit to the Institute in Abuja. The PSIN administrator, who also marked her 100 days in office, while welcoming the National House Committee Members, said: “I thank you most sincerely for

CONFIRMATION OF NAME

This is to confirm that I, OchuruEgwuronu Grace and Ochuru Egwuronu Grace refer to one and the same person. Henceforth I want to be known and address as Ochuru Egwuronu Grace. All former documents remain valid. General public should take note.

honouring us with this oversight visit and for the continued interest of the National Assembly in strengthening public institutions that support effective governance. “Your visit is particularly significant to me personally, as it comes just about the time I have completed my first 100 days as administrator of this institute. From the onset, I took the deliberate decision that the first 100 days would not be about publicity, but about understanding the institution, engaging the people who work here, and putting in place the basic disciplines required for PSIN to function effectively as a federal public institution.” According to her, one of the first things she did was to engage directly with staff across departments to understand their disposition towards management and the Institute.

Court Bars APC, INEC from Removing Eba as C’River Chairman A High Court of the Federal Capital Territory (FCT), has restrained the All Progressives Congress (APC) and the Independent National Electoral Commission (INEC) from removing or

has the APC, Mr. Ekum Ekok Ojogu, Mr. Patrick Asikpo Okon and INEC as 1st to 4th defendants. The claimant had through his counsel, Ayotunde Ogunleye (SAN), sought the court’s protection from what he described as an unlawful resolution to prevent him

from carrying out his duties as the APC chairman in Cross River State. Ruling in the application, Justice Obanor held that the case of the applicant is meritorious and subsequently made an order restraining the defendants, either by themselves.

Lagos, Oniru Partner to Promote Business, Culture

Yusuf Ebiti

Oniru of Iru Kingdom, Oba Abdulwasiu Omogbolahan Lawal (Abisogun II), announced the maiden Oniru Business and Cultural Day and the launch of Iru Business

Network, a new platform conceived to harness culture, commerce and community development in Iruland area of Victoria Island, Lagos. According to him, the initiative is designed to provide a structured and trusted framework for

sustained engagement among traditional institutions, businesses, government agencies and residents, following Iruland’s rapid urban and commercial growth. He said: “This initiative, developed in partnership with the Honourable

Commissioner for the Lagos State Ministry of Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Kaosarat Bada-Ambrose, represents a deliberate move to create a formal, organised, and trusted platform.”

FRIDAY, DECEMBER 19, 2025 • THISDAY

FRIDAYSPORTS

Group Sports Editor: Duro Ikhazuagbe Email: duro.ikhazuagbe@thisdaylive.com

0811 181 3083 SMS ONLY

Glory-seeking Super Eagles Land in Morocco in Style from Egypt Mikel describes Nigeria’s preparation for AFCON as ‘shameless’ Duro Ikhazuagbe

Three-time champions, the Super Eagles of Nigeria, arrived in Morocco on Thursday evening to begin their quest for a fourth Africa Cup of Nations (AFCON) title. The delegation made up of all the 28 players and coaching crew led by Eric Chelle, flew into Fez, Morocco by a chartered flight from Cairo, Egypt where Eagles played an international friendly with the Pharaohs on Tuesday. Media Officer of the team, Promise Efoghe, confirmed last night that the training session scheduled for yesterday evening had to be put off

AHEAD AFCON 2025 due to the time of arrival of the team to Fez. Full training will however begin this morning ahead of Nigeria’s AFCON 2025 opening game against the Taifa Stars of Tanzania on Tuesday in Fez. One of the standout highlight of Super Eagles arrival in Morocco was their well-styled, green Nigerian uniforms with caps to match. The players looked resplendent in the attires made for the team. Most of them posed for selfie with the image of the AFCON trophy in the

background. Meanwhile, a former Super Eagles Captain, John Mikel Obi, has described as “shameless” Nigeria’s preparations leading up to the 2025 AFCON. “I’m not impressed at all with the preparation. After everything that happened with the World Cup qualifiers, you would expect things to be better,” said Mikel, who has demanded for the resignation of the NFF board after failure to qualify for the 2026 World Cup. “How do you owe a coach money at this stage?

It’s shameless! This is not how serious football nations operate. “When issues like this are in the public space, it affects everyone – the coach, the players and even the fans.” Mikel added: “This was supposed to be the time to save face and show that lessons were learned. Instead, it’s the same story again. “You can’t go into the AFCON with unresolved problems. Everything must be sorted now. “Nigeria deserves better. Our football deserves better.” Administrative issues have often affected the country’s team leading to disgraceful pay strikes overseas.

NDG Organisers Condole With Bayelsa Govt on Death of Dep Gov

Victor Osimhen...arriving in Fez, Morocco to lead Nigeria’s quest for a fourth AFCON title

L-R: Super Eagles quartet of Igho Ogbu, Amas Obasogie, Jerome Akor Adams and Chidera Ejuke on arrival in Morocco...yesterday

Anthony Joshua Heavier Than Jake Paul Ahead Controversial Fight Today Anthony Joshua weighed in almost two stone heavier than Jake Paul for today’s controversial heavyweight bout as part of an unusual stipulation. Heavyweights do not usually have to make weight, but Joshua was required to come in under 17st 7lb (111kg), reflecting the gulf in experience between the fighters. He tipped the scales at 17st 5lb (110kg), with Paul weighing 15st 7lb (98kg). The pair will contest a

professional eight-round bout, using regulation 10oz gloves, at Miami’s Kaseya Center. A low-key official weigh-in, open only to the media, took place on Thursday morning in a conference room at the Fontainebleau Hotel. A ceremonial weigh-in is scheduled for Thursday evening at the Fillmore Miami Beach. Paul stepped on the scales calmly before breaking into a brief, animated and somewhat confusing tirade. “Do you know who I am? I am him,” he shouted, eyes

wide, as he gestured towards the assembled media. It was Paul’s heaviest recorded weight, 3lb more than for his fight against Mike Tyson last year. Joshua, 36, was never expected to miss the limit, having posted a video on social media two weeks ago showing himself already on target. However, when the Watford fighter did not arrive at the venue as scheduled, reporters were briefly left wondering whether there

had been an issue. Joshua eventually made a swift in-and-out appearance about an hour after Paul weighed in, looking trim and in shape. As he left the scales, he was asked by a reporter what his post-fight meal would be. “Success,” he replied. The weight discrepancy has been a major talking point. Paul has operated largely at cruiserweight for much of his boxing career, while Joshua is a two-time heavyweight world champion.

Adegoke, Kuti Set for Battle as 3rd Daniel Ford T’Tennis Serves off Reigning national champion, Muiz Adegoke will face a stern test as he defends his status against former champion, Matthew Kuti, and defending champion Abdulbasit Abdulfatai when the 3rd Daniel Ford Elite Youth Table Tennis Tournament serves off today, at the Molade Okoya-

Thomas Hall, Teslim Balogun Stadium, Lagos. Adegoke has been in blistering form over the past month, winning the maiden Governor Diri Top 16 Cup in Bayelsa and adding another title at a Lagos club tournament featuring some of Nigeria’s finest players.

However, his record at the Daniel Ford tournament has been mixed—finishing in the top four at the maiden edition in 2023 but failing to progress from the group stage in 2024. With his current momentum, he is determined to finally etch his name among the title holders of this prestigious

youth competition. Earlier this year, Adegoke’s dip in form cost him his place in the national team, but he now sees this tournament as a chance to reclaim his spot. To do so, he must overcome both Kuti and Abdulfatai—his teammates on the national squad.

Organisers of the Niger Delta Games, DunamisIcon, have commiserated with the government and people of Bayelsa State on the demise of the Deputy Governor, Senator Lawrence Ewhrudjakpo. In a condolence message signed by the Managing Consultant, Sir Itiako Ikpokpo KSM, and physically delivered by its Project Director, Mr Fred Edoreh, through the State Commissioner for Sports, Hon Daniel Igali, at the Yenogoa Sports complex on Wednesday, Ikpokpo stated that the demise of the Deputy Governor is not only a loss to his immediate family and the government of Bayelsa State, but to the Niger Delta and nationwide

sports. “We are well aware of his contributions to nation building, not only as a former Senator and Deputy Governor, but also as a notable figure in the development and promotion of sports in the Niger Delta region and at the national level,” Ikpokpo stated. “His passage is therefore a huge loss, not only to the government and people of Bayelsa State, but also to the sports family, nationwide. “As Project Consultants of the Niger Delta Games, the management and staff of Dunamis-Icon Limited share in your grief and wish to convey our heartfelt condolences to you and all Bayelsans.

Igbobi College to Host Seyi Akinwunmi Charity Event Dec. 27th The 2025 edition of the Seyi Akinwunmi Charity Foundation, the 11th in the series, has been scheduled to take place at the Igbobi College in Lagos. A total of six teams are on the cards to feature in the 2025 edition with two women’s teams and four men’s teams already confirmed by the organisers. The women’s teams are; Golden Eko Ballers Women Team and Asisat Oshoala Girls Academy while for the boys, Golden Eko Ballers U-14 Team, Dosu Football Academy, 36 Lions Football Academy and Ikorodu City

Football Academy will compete for honours. There will also be a novelty match between Igbobi College Old Boys Association of 2000 set and the Igbobi College Old Boys Association of 2001 set. This edition is supported by the ICOBA 78/80 set and the target of developing the young one to attain their potential to become future champions remain the same. Head of the Technical arm of the organizing team, Mr. Dotun Coker, stated that planning for the event has been ongoing in the past months.

T H I S D AY • FRIDAY, DECEMBER 19, 2025

BACK PAGE CONTINUATION PRESIDENCY: THE BENEFITS OF A KITCHEN CABINET It is largely made up of his handy boys and Man Fridays from his days as Lagos State governor. The current Federal Executive Council lacks depth and range. No exceptional minds, no men of timbre calibre with renowned experience, local and global and no maverick upstarts who are self-assured enough to shake the table and disrupt things. What a bland, lackluster cabinet. Where There’s No Kitchen Cabinet: Kitchen Cabinet (KC), also known as the cabal in any high office, could be the best thing that could happen to a country if they are forward looking patriots. In fact every government needs a kitchen cabinet. The reason is that it’s very lonely at the top and the head must make decisions almost every hour. Every leader therefore, needs a sounding board - a very sound one at that! This is a small group of brilliant men and women who can think on their feet and give the president wise counsel at the snap of the finger. TINUBU has no such team. We don’t know of such. Tinubu has no economic adviser. Tinubu has no economic council or board. Tinubu is his own energy adviser and minister; his own foreign affairs adviser and even political adviser and strategist. He therefore, doesn’t have the benefit of learned and knowledgeable experts at his beck and call. The Attorney-General’s office is purportedly the most crucial in any cabinet. But the AGF is clearly on AWOL in this cabinet, and that’s putting it mildly.

Even the current chief of staff, the closest person to the president is not at the calibre of an Abba Kyari or Prof. Sulu Gambari. With due respect to Mr Femi Gbajabiamila (currently shunted chief of staff), he’s not primed to impact policy, he merely takes instructions and pushes files. The president has also managed to frame a barracuda presidency where he is feared by aides... Buhari had men like Prof. Yemi Osinbajo, Raji Fashola, Ogbonnaya Onu and even Rotimi Amaechi, among a few others. One finds it difficult to pick out nary two strong men in the Tinubu cabinet. It is not for want of a good head who can help drive development, it’s more of a president imbued with a parochial mindset that won’t open up easily to ideas. We need to headhunt. We need to

deployment of fighter jets to Benin Republic, the FIRS secret MoU with France, purchase of military aircraft from Italy (prioritising security over economy), seizing of Nigeria’s supertanker by the US, the Dangote vs. NNPC misma, Nigeria featuring on Trump’s travel restrictions list, bandits leisurely taking down Nigerians, including military officers at will as if we are in an unmanned territory, foreign countries like France and the US pushing Nigeria around like a serf nation...plus a lot more. So many silly things are niggling at Nigeria’s sovereignty, her essence and the survival of the people. It appears there’s no government in Nigeria today. It appears there’s nobody out there in the country who can think, or who’s thinking. Yet this president dares to canvass for a second term.

BOTTOM LINE: Will Obi Capitulate?

Peter Obi

REMEMBERING TONY URANTA you. The problem can be found in the mirror. The problem is us. With noxious narcissm, failure to educate ourselves well on what constitutes a path to desired future, an elite evidently unworthy of the treasure it was gifted, unwittingly became a wrecking crew using ethnicity, religion and contention for scarce resources to leave the people in bondage and on the road to serfdom. Leo Tolstoy famously wrote that ‘If you feel pain. You are alive. But if you feel the pain of others you are human’ For me the trouble with Nigeria is of an elite that lost the sensors to feel the pain of others. This is an elite that lost its humanity. How else would deaths of people, Moslems, Christians, Tradional religion adherents or Buddhist, not make you lose sleep. But the Nigerian story may suggest you cannot go far in politics if you are not numb to being sensitive to the dignity of the human person. To be with it in the that arena is to worship money and have little regard for truth or life. In normal places the purpose of public life is advance of the dignity of the human person. With this as preamble let me now provide structure to this talk. I will begin with a short tribute to Tony Uranta and the impact of his stewardship. Then I will speak to human differences, or shared nature that triggers human solidarity, and identity politics pointing to phenomenological linkages in group behavior, before focusing on some particular initiatives Tony Uranta and I worked on together. Through the years I was away for graduate studies Tony toughened himmself for what would be a demanding mission in search for social justice in Nigeria. More meaningful for me is that most of those years he had severe health challenges. You ca imagine how sacrificial those days of advocacy and protests had to have been. I am persuaded that the pain of the conditions may have multipled the graces to Tony and had a redemptive value for the causes we pursued. They include the Niger Delta struggles for justice and conferences on the National Question. I will speak to those and close with a little note

open the cabinet and allow an infusion of great minds especially from the diaspora. People like Adebayo Ogunlesi, Temilayo Butler, Bennett Omale, Osa Igbokwe, to make a random mention. Even at home, party men like Muiz Banire, Ikechi Emenike (first class Economics, publisher with vast influence in many Africa’s state houses) and Prof Adebayo Williams and Adewole Adebayo, presidential candidate of SDP in the last election, to mention a few. These men would make a solid kitchen cabinet team. Tinubu Needs A Kitchen Cabinet Quick: A small K cabinet always on standby would debate him and brainstorm with him on emerging issues needing instant response. Issues like the aircraft and officers stranded in Bobo Diolasso; the impulsive

to Heaven, a conversation with Tony. So let me begin.

MEETING TONY I met Tony in 1977. I met his Jacket before I met him. That year the NYSC sent me to The Newbreed Organization for my primary assignment. I was naturally assigned to the Editorial Department and shown to a desk I was to work from for the year. Adjoining to it was a desk matched with a chair adorned with a Jacket. During first week the cartoonist who was trying to get something interpreted would saunter into the room look at the Jacket and say oh, looks like he just stepped out, and go fff. It took a week for me to meet the man represented by the jacket. At first meeting it was clear we had plenty in common. The main difference was that I was under the influence, not of alcohol, but of a set of ideas and a certain man. Both Tony and I were Surulere boys. He went off to UI and I wanted to avoid the University with the plan to go to flying school and become commercial pilot. I somehow reached a deal with my father to spend a year or two in the University to mature a little and then go off to flying school. The deal unraveled after I made it into UNN. This was just after the civil war and UNN was receiving charity of books and journals, from around the world but we sat on blocks in the class rooms and the Libraries full of books were shut because the departments could not afford to hire Librarians. My Head of Department suggested students volunteer and organize themselves to keep the Library open for their own use. But the students were too selfish to volunteer. Something from my days as a Nine year old Altar Boy at Our Lady of Fatima in Gusau when John F Kennedy was President of the United States kicked in. The American Catholic Priests of the Dominican Order who ran that parish bred us on a doctrine of service and the JFK mystique of Camelot. After accusing colleagues of not even being able to give service in their own interest I went to the HOD and

he man with the raging momentum, the one who changed the algebra of Nigeria’s politics in 2023, Peter Obi is in a fix right now. With the ruling APC, shutting down Nigeria’s vast political space, including blocking access to nigh all political parties, Obi is right now at a cul-de-sac. The only viable option open to him today is to formally join the coalition party, ADC. But former vice president, Atiku Abubakar sits there already like

a leviathan. The near-octogenarian is bent on flying the ADC’s flag in 2027. His marabouts have assured him the time is finally now ... for real! This leaves Obi with the running mate position, at best. This will be tough to explain to his teeming followers (OBiDIENTS) who made him a veritable third force in 2023. The other option is to bite the bullet and quit the race to preserve his ideals. Fingers crossed as Nigeria awaits his next move in the new year.###

volunteered to keep the Library open at my convenience. I was promptly handed the key of the Library. That others may use the Library I spent a lot of time there. With nothing else to do while there I began to read the books and journals there. That moved me from a desire to go to Flying School to a determination to go to Graduate school. Reading voraciously on the offerings I discovered Stephen R Covey and leadership and writings on a New International Economic Order These would be the windows to my later academic interests and the values idealism Tony first found curious. When I met Tony we knew we both wanted to change the world but he kind of thought those books I was reading made me take matters too seriously. All my talk about values and principle centered choice made him worry about me. The day Youth Corps ended I left for graduate school and would not see Tony for another decade

one occasion, told me of how as a young minister he entered parliament and took his seat. He was called up by Prime Minister Tafawa Balewa who rebuked him for not offering greetings to the opposition leader Chief Obafemi Awolowo. He said he had to go and prostrate to Chief Awolowo before resuming his position. Compare that to young men insulting their father’s seniors and superiors on X for no reason except the other name sounds like it is of another ethnic group. How did we get from there to here? When the elections of June 12 1993 were annulled I took a front row in organizing the resistance as did Atedo Peterside whose desk was on the other side of Tony Uranta at the time I first met Tony’s jacket. By the way Atedo who then just finished Youth Corps and was coming in part time at Newbreed was paired with me to work on the Business magazine of the Newbreed group , The President. This is how my interview with Otunba’s Subomi Balogun was on the cover of the maiden edition of the President which Atedo was largely responsible for which appeared after I had left the country. It did not cross my mind in 1993 that Chief MKO Abiola was Yoruba and I Igbo. In fact I voted for Abiola even though the person who was VP candidate to Bashir Tofa, was someone dear to me. I actually was at his 94 birthday a few months ago in the Washington DC area. Seldom do I journey into the US capital without seeing Dr Sylvester Ugoh.My choices were simple matters of principles. Sadly you will find much of today’s divisions come from politicians weaponizing differences and deepening cleavages so they can pull the wool of emotions over reason to get votes they should not. What makes it so difficult for these politicians to see that these demonizations of others inevitably make consensus difficult. This consensus being the heartbeat of democracy it should be obvious their conduct erodes the prospects of democracy. Is this a case of pennywise pound foolish or apres moi le deluge - after me disaster.

Forces of Division and Shrinking Prospects of Human Progress We can go back to the Berlin conference for the partition of Africa and blame Europe for the Irredentist movements that define post colonial Africa and blame Colonial Powers for bringing together diverse people into sovereign new countries but how do explain that two generations after Independence these countries are far more dysfunctional regarding ethnic and religious discontent than at independence. In Nigeria the current state of insecurity is just one manifestation. Policy making has been impacted in ways that on the development lane we are way behind our one time peers in Asia. In secondary schoool I had a fried who was son of the legendary politician Chief HO Davies. HO and Zik were friends who belonged to two different Political Parties, Action Group and NCNC. During the day they would go campaigning for their different parties in hot contention and in the evening one would drive up and pick the other for Tennis and drinks. Is that likely today? The late Alhaji Maitama Sule, on more than

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THISDAY • FRIDAY, DECEMBER 19, 2025

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BACK PAGE LEAD PHOTOGRAPH

SENATORS AFTER PLENARY ON WEDNESDAY...

L-R: Senators Joseph Ikpea, Titus Zam, Emmanuel Udende, Shuaibu Salisu; President of the Senate, Godswill Akpabio; Senate Leader, Opeyemi Bamidele and Deputy Senate President, PHOTO: SENATE PRESIDENT’S OFFICE Jibrin Barau, after yesterday’s plenary.

STEVEOSUJI EXPRESSO

Presidency: The Benefits Of A Kitchen Cabinet

ark Auguries All round: The imageries that tug at one’s mind these days is a that of a train on a rollercoaster. One also sees a plane on autopilot with the captain fast asleep, even snoring. In fact, these days, one wants to scream: where in the world is the President!? The clouds over the nation are not clear; the auguries are indeed dark. Nigeria seems to bumble from one mishap into another. The country stumbles from one calamity to another. Too many unforced errors of course betokens ineptitude or a stark lack of capacity to lead. Low Capacity President, Poor Presidency: Leadership experts and presidency watchers have long concluded that both Nigeria’s

patriotic zeal to pilot the ship of state. Presidents are not necessarily geniuses. Throughout history, very few leaders have been recorded to be ‘courageous ravens’ or all-round brainards. No. But what great leaders over the ages have in common is big vision and the ability to deploy high-minds lieutenants to drive their vision. Back to the current leadership in Aso Rock, it is not certain what President Tinubu’s big dreams are for Nigeria. Over four to eight years, one can’t discern exactly, what huge impact or great legacy Tinubu wants to be remembered by. President Bola Tinubu Does he plan to pull X million people numero Uno and his cabinet are irretrievably from poverty? Ensure electoral integrity devoid of requisite capacity and even the in Nigeria? Solve Nigeria’s power supply

challenge for good? Restructure Nigeria to function as a true federating sub nationals? What major vision is Tinubu pursuing? I doubt that anyone knows. But even if there’s no huge, framed picture in the president’s head, managing the basics, doing the day-to-day chores of government, if brilliantly done, could inspire the population and liberate their minds into individual breakout achievements. But nothing of such. Zero! A poor presidency will of course surround himself with like minds. This is exactly what’s happening in this government. Tinubu’s cabinet is no doubt the weakest Nigeria ever had in recent times. Continued on page 47

PATUTOMI

GUEST COLUMNIST

Remembering Tony Uranta

n this country through which clearly God purposed to redeem the dignity of the black man but somehow lies prostrate a more honest title for this lecture would be: An Elite that Lost Its Humanity And shot itself in the foot. In Nigeria we love talkfests. Nothing wrong with that. Jurgen Habermas, the philosopher of the public sphere, would love that and celebrate it as the meeting point of Democracy and Modernity, if only they were about rational public conversation to boost a marketplace of ideas for the advance of the common good. That does not seem to be the outcome of our gatherings to talk. I have certainly contributed more than my fair share at those lectures, symposia, and workshops, as a so called public intellectual. The problem is that most people see participat-

them as places for chieseling out consensus by which we erect a future that we live everyday to bring about that tomorrow which is desirable. My thesis is that our present crisis, this chaos euphemistically dubbed insecurity, that terrifies the majority not temporarily shielded by the apparatus of state power , for being in office, was long foretold. I can simply go back 40 years and draw from my own speeches and show where I precisely predicted this day, declare myself a prophet, and take my seat. But what is the point of that. Prophecy is far from my purpose. But truth has been so mocked in today’s Nigeria you sometimes wonder the point of its pursuit except as academic exercise Late Tony Uranta for the benefit of curious people elsewhere. So I point to the predicted path to what ing in these as part of the theatre that public life has become. Few. Exceptionally few, see Robert Kaplan called the Coming Anarchy to

illustrate leadership failure, elite collapse and our individual responsibility in this our seeming inability to live the mission of this generation to Africa and the Blackman, as Franz Fanon would say. Fanon reminded it was the duty of every generation to come out of that relative obscurity and find its mission. Our mission as a generation was clearly cut out for us. US President John F Kennedy told Prrime Minister Tafawa Balewa so. And as undergraduates we took it as self evident. But when we gather to do upmarket yabis, which we call lectures, we think the problems belong to those people we have come point to as the problem. The problem is not in them., I can assure Continued on page 47

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