MONDAY 3RD NOVEMBER 2025

Zenith Bank’s Gross Earnings Surged 16% to

Nume Ekeghe

Zenith Bank Plc has released its unaudited financial results for the nine months ended 30 September 2025, with a remarkable 16% year-on-year growth in gross earnings from N2.9 trillion recorded in Q3 2024 to N3.4 trillion in Q3 2025. The Group’s performance continues to demonstrate resilience, strong momentum, disciplined execution and an ability to deliver long-term shareholder value in spite of challenging macroeconomic environment. According to the financial results presented to the

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Diri: My Decision to Leave PDP, Join APC in Bayelsa’s Interest

State making progress due to unity, declares Oborevwori Suswam set to join ruling party from ADC

Deji Elumoye in Abuja, George Okoh in Makurdi and Olusegun Samuel in Yenagoa Bayelsa State Governor, Senator Douye Diri, has said his decision to quit Peoples Democratic Party (PDP) is in the

Diri made the comment ahead of his formal defection to All Progressives Congress (APC) today, Monday, November 3. The governor, who spoke yesterday during the 14th

Continued on page 5

Presidency Intensifies Engagement with Washington over Trump's Military Threat

Soludo to US: Insecurity in Nigeria beyond Christian/Muslim dichotomy Says Christians killing people of same faith in South-east Kwankwaso urges diplomacy, says insecurity knows no religion, ethnicity Gumi: Trump's threat of military attack disrespectful to Nigeria CSOs condemn US over remarks, insist nation not sponsoring terrorism

Deji Elumoye , Emmanuel Addeh in Abuja, Segun James in Lagos and Ahmad Sorondinki in Kano

The Nigerian presidency yesterday intensified diplomatic engagement with Washington, following threats by the US President Donald Trump to launch a military intervention in Nigeria over alleged killings of Christians.

On November 1, 2025, President Trump declared that he had instructed the Pentagon to begin planning for potential action in Nigeria, and warned that US aid would be immediately cut if the Nigerian

to Contractors, Hands over Roads to Abia Governor

Umahi urges South-east to reciprocate gesture, vote Tinubu in 2027

Junior works minister concludes visit to China, strengthens bilateral cooperation

Emmanuel Addeh in Abuja

The Minister of Works, David Umahi, has paid an unscheduled working visit to the ongoing works on the reconstruction and rehabilitation of the 56-kilometre Section II (Umuahia Tower-Aba)

Enugu-Port Harcourt dual

carriageway being handled by Messrs Arab Contractors Limited.

He chided the company for not living up to its reputation as a stickler to quality and time in project delivery, giving them one month to complete the remaining 4.1 kilometres (Aba bound) part of the contract, a statement by the Director,

Press and Public Relations, Mohammed Ahmed, said yesterday.

Following the expiration of a 14-day notice of termination of contract, the team also visited construction works on the reconstruction of the Enugu-Port Harcourt Expressway, Section IV, Aba-Port Harcourt by Messrs

CCECC (Nig.) Limited.

During his last visit to the project, Umahi had expressed dismay at the non-adherence to approved engineering standards and the slow pace of work. It took the intervention of the Governor, Alex Otti, for the minister not to revoke the contract.

The initial contract for

alignment was awarded by the past administration in January 2017 with a 30-month completion period. It consists of the construction, reconstruction, and rehabilitation of the 41.4-kilometre dual carriageway from Aba in Abia State to Eleme Junction Flyover in Port Harcourt, Rivers State.

PRESIDENCY INTENSIFIES ENGAGEMENT WITH WASHINGTON OVER TRUMP'S MILITARY THREAT

government did not act decisively.

Also yesterday, the the Governor of Anambra State, Prof. Chukwuma Soludo, reacted to the threats by Trump, opining that the issues are more complex than the picture of a Christian/ Muslim dichotomy being painted by the US.

Soludo, who spoke during a media chat broadcast live on Arise News Channel and several other national television stations, further maintained that if for any reasons the US must step in, it must be on the invitation of the Nigerian government with due respect for international laws.

In the same vein, the federal government has said that President Bola Tinubu was proactive concerning the emerging diplomatic row from the US administration of Trump, especially with his reorganisation of the military and a serious

instruction to them to end all forms of insecurity bedevilling the nation.

In Abuja, THISDAY learnt that officials of government have moved swiftly to douse tension, with several contacts currently being made with the US government for a possible meeting.

The diplomatic engagement between Abuja and Washington is seen as crucial to manage what could become a major bilateral crisis. As of last night, Nigerian officials were still coordinating with their US counterparts to clarify the basis for Trump’s demands, to reaffirm Nigeria’s commitment to protecting all citizens, and to secure assurances that any military cooperation will not undermine Nigeria’s sovereignty.

“We are talking to the White House. We are engaging seriously

with them to ensure that the issue does not escalate,” a source told THISDAY.

Aside from the Foreign Affairs Minister, Yusuf Tuggar, others who attended some of the meetings yesterday included: the National Security Adviser (NSA), Nuhu Ribadu; Minister of Solid Minerals, Dele Alake; Minister of Information and National Orientation, Mohammed Idris; Tinubu's spokesman, Bayo Onanuga, among others.

But during the media chat, Soludo said that the Nigerian government needed to respond with the facts in a “deeper conversation”, adding that although America has the right to hold an opinion about other countries, it must be done within the precincts of international law.

“As a country, America has its own rights to have its own views about what is going on

elsewhere, but when it comes to what it does, I am sure it must also do what it does in terms of its own response within the realm of international law,” he stated.

For instance, the governor maintained that the killings in the South-east where he hails from were not motivated by religion, emphasising that those who are killing Christians in that part of the country are people of the same religion.

“People are killing themselves, Christians killing Christians, the people in the bushes are Emmanuel, Peter, John, all Christian names, and they have maimed and killed thousands of our youths, it has nothing to do with religion. Certainly, if Nigeria requests any assistance for the military, technology and hardware to deal with insurgency, then it is within Nigeria’s call,”

DIRI: MY DECISION TO LEAVE PDP, JOIN APC IN BAYELSA’S INTEREST

Bayelsa Thanksgiving Day at Ecumenical Centre, Igbogene, Yenagoa, said someone had to take the decision and he took it on behalf of Bayelsans.

Speaking at the occasion, Delta State Governor, Hon. Sheriff Oborevwori, who was represented by his Senior Policy Adviser, Hon. Funkekeme Solomon, said the strength of Bayelsa’s progress and development was in the unity of the people. Oborevwori urged the people to remain united and supportive of the Diri administration.

Relatedly, former Benue State Governor, Gabriel Suswam, announced his intention to join APC, from African Democratic Congress (ADC).

in interest income which grew by 41% year-on-year to N2.7 trillion. The growth in interest income was supported by a high-yield rate environment and an expansion in the Bank’s investment portfolio. Despite the increase in interest expense by 22% to N814 billion on the back of a tightening monetary cycle and a growth in the Bank’s funding base, the Bank was able to achieve a healthy Net Interest Margin (NIM) of 12% as against 10% in September 2024. Non-interest income declined by 38% to N535 billion, underpinned by a 60% decline in trading gains.

Profitability remained strong, with profit before tax at N917 billion as against N1.00 trillion reported in September 2024.

Diri’s remarks at the thanksgiving ceremony were his first public comments on the issue of party allegiance following his resignation from PDP on October 15.

He explained that some persons might not understand his reasons for joining the ruling party, but with the passage of time, it would become clear that his reasons were altruistic.

The governor expressed delight at the gathering of different political leaders at the thanksgiving service, stressing that the unity of Bayelsa is crucial for its development.

He stated that politics should be for development and not to bring people down, and his administration would continue

Profit after tax also declined by 8% to N764 billion and Earnings Per Share (EPS) came in at N18.60 as against N26.34 in September 2024, as the Bank took bold measures to improve the quality of its loan portfolio.

The Bank's total assets grew by 4% from N30 trillion in December 2024 to N31 trillion as at September 2025. This was largely supported by customer deposits, which rose by 8% to N23.7 trillion within the same period. Gross loans declined by 9% to N10 trillion as at September 2025, while NonPerforming Loan (NPL) ratio improved to 3% due to the write-off of non-performing loans.

Return on Average Equity (ROAE) and Return on Average

to unite and develop the state.

The Bayelsa helmsman also said the current peace and security in the state, and its ongoing development were reasons to be grateful to God. He urged the people to imbibe the culture of thanksgiving.

He stated, “Somebody had to take the decision (to leave the PDP) and I took it on behalf of the state. I took it in the best interest of the state. Some of you might not understand now but later it will be clear to all.

"When we came in as a government, what we did at the beginning was to ensure that most of the uncompleted projects were completed and we introduced new ones. That alone is enough reason

Assets (ROAA) stood at 23.3% and 3.3% respectively. Cost of funds increased to 4.5%, underscored by the broader elevated interest rate environment. The Group’s cost of risk stood at 10% while costto-income ratio rose to 45%.

Coverage ratio and liquidity ratio remain solid and well within regulatory limits at 211.1% and 53% respectively. This highlights the Bank’s strong capital position and liquidity profile as well as its ability to fund strategic growth opportunities. It also reflects its unwavering commitment to a prudent risk management, compliance and corporate governance culture.

Commenting on the results, the Group Managing Director/

to thank God.

"The peace and security we are enjoying is another reason to thank God. Politics is for development and not to kill your brother. The gathering here is a testimony of the unity in the state.”

Oborevwori lauded Bayelsa State for sustaining the culture of thanksgiving, saying it is an attitude that attracts God's blessings.

In his remarks, Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, said he was excited to attend the annual thanksgiving for the first time.

Lokpobiri described Diri as a unifier.

He said the governor's recent

CEO, Dame Dr. Adaora Umeoji, OON, said: “the Bank’s robust performance is an attestation to the resilience of the Zenith brand, result-driven strategy, and the adaptability of our people in an evolving operating environment. We have fortified our capital base, reset our asset quality, and are well positioned for sustainable and profitable growth”.

Looking to Q4 2025, Dame Dr. Umeoji reinforced her optimistic outlook: “This result confirms the resilience of both our business model and our people. We’re on a solid growth path that we expect to maintain through the remainder of the year. Our focus on innovation, digital transformation, and developing

he added.

Soludo dismissed the planned ‘invasion’, stressing that if Nigeria was to follow the same logic, when blacks were being killed in America sometime ago, African countries would have also threatened to invade the US.

“You had police men killing some blacks… I remember the #Black Lives Matter protest, and somebody will say maybe Africa should go and invade America because blacks are being killed?

I am not quite sure. Because that is the way I see it.

“I think there is a need for deeper conversation. It must end in conversation, and I am sure the government of Nigeria will respond very robustly on behalf of Nigeria. Nigeria is such a big country, and the government is doing a whole lot to safeguard the country.

“In this part of the country

political move was timely as the state could no longer afford to be in opposition when key development decisions were being made at the centre.

Managing Director of Niger Delta Development Commission (NDDC), Dr. Samuel Ogbuku, described Diri as Godsend to the state, owing to his visible development strides.

Ogbuku prayed for God’s wisdom to guide the governor to continue to do his best for the state.

Delivering a sermon, titled, "Reasons Why We Should Thank God," General Overseer of The Redeemed Evangelical Mission (TREM), Bishop Mike Okonkwo, said thanksgiving

solutions that address our clients’ changing needs positions us to capitalise on emerging opportunities whilst maintaining our disciplined approach to growth.” She assured shareholders that the robust performance, combined with improved asset quality and the Bank’s strong capital base, positions Zenith Bank to deliver exceptional returns with expectations of sustained value creation. “We’re well placed to sustain this momentum whilst maintaining responsible leadership in the Nigerian banking industry and delivering exceptional value to all our stakeholders.”

The Bank's track record of excellent performance has continued to earn the

(South-east), we are 95 per cent Christian, and around the South-east are Christians. The people in the bushes killing people bear Christian names; it is wider than the categorisation of Christians, Muslims. Nigeria will overcome and it will end in a conversation," the governor who is seeking re-election next Saturday stated. He insisted that the facts needed to be properly dimensioned and understood, explaining that Nigeria could request for any assistance for the military, including technology and hardware and software to deal with the insurgents and bandits, and not on the basis of threats.

FG: Tinubu Saw Trump’s CPC Row Coming, Acted

Continued on page 60

was important, as God was always present at the time of need and would not forsake His children.

Suswam Set to Join APC, from ADC Former Benue State Governor, Gabriel Suswam, announced his intention to join APC.

Suswam, a two-term governor, said his decision reflected a readiness to work closely with President Bola Tinubu, Secretary to the Government of the Federation, George Akume, and Governor Hyacinth Alia to ensure Benue fully benefitted from federal programmes and opportunities.

brand numerous awards, including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the sixteenth consecutive year in the 2025 Top 1000 World Banks Ranking, published by The Banker and "Nigeria's Best Bank" at the Euromoney Awards for Excellence 2025. The Bank was also awarded Bank of the Year (Nigeria) in The Banker's Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022, 2024 and 2025, in the Global Finance World's Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the World Finance Top 100 Global Companies in 2023.

ELEVATE AFRICA 2025 IN GABORONE, BOTSWANA...

Wood Mackenzie: Global Crude Oil Demand Won't Peak Until 2032

Says limiting global warming to 2°C will require $4.3tn annual investment Africa, India, others to remain key drivers

Emmanuel Addeh in Abuja

Global oil demand will not peak until 2032, two years later than earlier thought, consultancy Wood Mackenzie has said in a report, blaming continued momentum on the use of hydrocarbons for transport and petrochemicals.

Rising dependence on fossil fuels due to increased power demand from artificial intelligence and to geopolitical tensions have led to 2050 net zero goals becoming unattainable, Wood Mackenzie said in its Energy Transition Outlook report. The report comes ahead of

the COP30 meeting in Brazil this month where countries are due to present updated national climate commitments and assess progress on renewable energy targets.

Demand for liquid hydrocarbons is expected to peak at 108 million barrels per day in 2032 with natural gas

demand remaining resilient well into the 2040s, the report said.

In China, oil demand stood at 16 million bpd in 2025, but rising electric vehicle adoption could lead to demand falling by 35 per cent by 2060, the report said. However, India, Southeast Asia and Africa remain key drivers of oil demand growth.

Moniepoint Introduces Nigeria’s First Informal Economy AI Chatbot

Emma Okonji

Moniepoint Inc, Africa’s leading business payments and personal banking servicing platform, has launched Nigeria’s first artificial intelligence-powered chatbot dedicated to demystifying the informal economy.

The feat displayed by Moniepoint earned it commendations from the federal government for its decade-long commitment to driving financial inclusion and

business growth across Nigeria.

Speaking at the launch of the second edition of Nigeria’s Informal Economy Report, powered by Moniepoint, in Abuja recently, Vice President Kashim Shettima, represented by Minister of Industry, Trade and Investment Dr. Jumoke Oduwole, stated the informal economy would be at the heart of Nigeria’s story of resilience, creativity, and enterprise, from market traders to artisans, service providers, and young digital entrepreneurs.

Shettima stated, “Millions of Nigerians power commerce daily in ways that are unseen yet indispensable to our economy. This report gives an important window into the challenges and opportunities within the sector. It provides a stronger foundation for inclusive, evidence-based policymaking.

“The Tinubu-led administration places high priority on the informal sector, which has remained central to Nigeria’s economic resilience.

I commend Moniepoint for its decade-long contribution to financial inclusion, supporting millions of informal businesses across Africa.”

Built on cutting-edge Large Language Model (LLM) technology, the AI Chatbot provides conversational and easy-to-understand responses to complex queries.

It represents Moniepoint’s belief that technology should serve people, especially the everyday entrepreneurs who keep the economy moving.

FG Deepens Public Health, Livelihood Restoration Efforts in Ogoniland

Inaugurates new water facilities in Bane, Gwara

Blessing Ibunge in Port

Harcourt

In deepening public health, recovery of livelihood, the federal government at the weekend, inaugurated new water facilities in Ogoniland, under the Hydrocarbon Pollution Remediation Project (HYPREP), a major step in restoring safe water access after years of oil pollution in the area.

Inaugurating the projects in Bane and Gwara communities in Khana Local Government Area, Minister of Environment, Balarabe Lawal, said the new facilities were not just infrastructure projects, but a lifeline for communities long deprived of clean water due to environmental contamination.

“Access to clean, safe, and reliable water remains one of the most critical determinants

of public health and human dignity. Beyond being a basic need, it is a fundamental human right and represents hope as well as renewed confidence in government’s commitment to restore dignity, health, and sustainable development for our people.”

He explained the unveiling of the water projects was part of President Bola Tinubu’s Renewed Hope Agenda, which prioritises

environmental recovery and community wellbeing across oil-producing areas.

“This is a fresh start for the people of Bane and Gwara after decades of hardship caused by pollution,” the Minister declared. “Through HYPREP, our mandate goes beyond cleanup—it includes restoring livelihoods, providing vital infrastructure, and promoting sustainable development.”

A Wood Mackenzie analysis suggested that limiting global warming to 2 degrees Celsius would require $4.3 trillion in annual investment between 2025-2060 - an increase of 30 per cent from current levels - to reach net zero emissions by around 2060.

Energy sector investment would therefore need to grow from 2.5 per cent of global Gross Domestic Product (GDP) today to 3.35 per cent within the next decade.

"Fossil fuels are no longer uncontested; they are being squeezed into narrower roles, but their decline is proving more gradual than expected," the Wood Mackenzie report

said.

Displacing fossil fuels with renewable power is a pillar of the energy transition that seeks to meet the Paris Agreement target to limit global temperature rises to 1.5 C (2.7 F) above preindustrial levels. The slower pace of energy transition and stronger-thanexpected crude demand are making this shift harder. Meanwhile OPEC+ on Sunday agreed a small oil output increase for December and a pause in increases in the first quarter of next year as the producers' group moderates plans to regain market share due to rising fears of a supply glut.

PIA: Bayelsa Host Communities Declare N15.25bn Revenue for 2024 at First AGM

Olusegun Samuel in Yenagoa

Eleven host communities from Brass and Southern Ijaw Local Government Area of Bayelsa State under the KEFFESO Host Communities Development Trust (HCDT) have held their first Annual General Meeting (AGM) under the new Petroleum Industry Act (PIA), declaring N15.25 billion as revenue for the 2024 fiscal year.

The KEFFESO HCDT is funded by Nigerian National Petroleum Company Limited/First Exploration and Petroleum Development Company Joint Venture.

KEFFESO is an acronym for oil bearing communities in Brass and Southern Ijaw LGAs in Bayelsa, who are host communities to First E&P operators of Oil Mining Leases (OMLs 83 and 85 off

the Atlantic coastline. The PIA requires oil firms to set aside 3 per cent of their annual operating expenses for development of their host communities to be administered by the HCDT. At the AGM with the theme: “Advancing Accountability and Sustainable Growth”, the Finance, Audit, Accounts and Risk Committee said it received a total income of N15,635 billion and expended N375.529 million leaving an outstanding balance of N15.259 billion.

Speaking at the inaugural AGM, NNPC Group Chief Executive Officer, Bayo Ojulari described the KEFFESO HCDT as "the cornerstone of our common goal. It is a platform that ensures that development is communityled, participatory, and sustainable."

WALE EDUN GETS HONOURARY FELLOWSHIP OF THE CHARTERED INSTITUTE OF BANKERS OF NIGERIA...

CPPE Endorses FG’s 15% Duty on Imported Refined Petroleum Products

Dike Onwuamaeze

Centre for the Promotion of Public Enterprise (CPPE) has endorsed the imposition of 15 per cent tariff on refined petroleum products by President Bola Tinubu. CPPE described the tariff it as a forward-looking policy that could transform Nigeria’s industrial landscape, if reinforced with complementary reforms.

The endorsement was given yesterday in a policy brief, titled, “Strategic Protectionism to Drive Nigeria’s Industrialisation.”

CPPE advocated strategic protectionism in the form of a calibrated policy approach that safeguarded emerging industries while building competitiveness and self-sufficiency.

Founder/Chief Executive Officer of CPPE, Dr. Muda Yusuf, said in the policy

brief that the recent 15 per cent import duty on refined petroleum products represented a positive policy step that could catalyse industrial expansion, conserve foreign exchange, create jobs, and promote Nigeria’s economic resilience, if it was complemented with broader industrial support measures.

Yusuf said, “Nigeria’s journey to sustainable industrialisation must be anchored on strategic, time-bound protectionism, not indiscriminate liberalisation.

“No country has industrialised through unrestrained exposure to imports.

“The 15 per cent tariff on refined petroleum products is a forward-looking policy that can transform Nigeria’s industrial landscape if reinforced with complementary reforms.

Alleged Unlawful Withdrawal: N1bn Suit against NIPSS Gets December Hearing Date

The Federal High Court in Abuja has fixed December 8 for hearing in a N1bn suit against the National Institute for Policy and Strategic Studies (NIPSS), Kuru, Plateau State.

The suit filed by the founder of PRNigeria, Malam Yushau Shuaib, is specifically challenging his alleged unlawful withdrawal from the Senior Executive Course (SEC) 47 of the Institute.

THISDAY learnt the case, assigned to Justice Binta Nyako, by the Chief Judge of the Federal High Court, Justice John Tsoho, has been slated for hearing on the above date.

Shuaib had dragged NIPSS before the Court to challenge his unlawful and arbitrary withdrawal from the Senior

Executive Course (SEC) 47 of the Institute after his admission had been approved by President Bola Tinubu and necessary payment and conditions precedents had been fully met.

The plaintiff, in the suit marked: FHC/ABJ/ CS/1329/2025, is demanding the sum of N1 billion in general, special, and aggravated damages against the NIPSS, as compensation for emotional trauma and reputational damage he suffered as a result of the alleged unlawful and unjust action of the institution.

He is also seeking an additional N100 million as litigation costs, having issued a pre-action notice on June 16, 2025, to the Institute’s Director General, Professor Ayo Omotayo, which was allegedly ignored by the management.

“This is not merely about a single refinery. Rather, it is a sector-wide proposition that supports all current and future domestic investors in refining and related industries.”

According to him, the continuous importation of petroleum products has imposed immense costs on the Nigerian economy, such as sustained pressure on foreign exchange reserves, fiscal instability, and the collapse of domestic refining.

He said, “The 15 per cent import duty on refined petroleum products - petrol and diesel - is a progressive

and corrective measure.

“This modest protection will provide the policy support needed for domestic refineries such as Dangote Refinery, NNPCL refineries, and emerging modular refineries to thrive, restore Nigeria’s refining capacity, and reduce foreign exchange exposure.”

Yusuf stated that “protectionism, when pragmatic and disciplined, is not about closing borders.

“It is about building domestic strength for global competitiveness. The goal is not to shut out the world, but to empower Nigeria to engage

it from a position of strength.”

According to him, the Asian success stories of economies like China, South Korea, India, and Malaysia built their industrial strength through inward-looking strategies during their formative decades.

“They protected infant industries, promoted local content, and developed domestic value chains before gradually opening up to global competition,” Yusuf said, adding that “even the United States of America, the world’s largest economy, has recently adopted protectionist industrial policies to bolster its

manufacturing base.”

He pointed out that Nigeria’s prolonged dependence on imports had created deep structural distortions.

The CPPE founder stated, “The absence of effective protection and inadequate support for local producers has discouraged investment and led to decades of deindustrialisation.

“The oil and gas sector epitomises this failure as decades of refined product importation have drained foreign reserves, weakened fiscal stability, and eroded economic sovereignty.”

NSITF Plans Stricter Enforcement of Employers' Compliance to ECS Act

As part of measures to improve the safety and welfare of workers at the workplace, the Nigeria Social Insurance Trust Fund (NSITF), has said it is considering enforcement of the law on mandatory enrollment in the social insurance scheme by all eligible employers in the country.

Under the Employee Compensation Act of (2010) all employees and employers in

both public and private sectors are expected to register with NSITF.

The ECA provides for benefits like compensation for injuries and a rehabilitation program for employees with work-related disabilities, based on the principle that employers have a duty of care to protect their employees.

However, NSITF said that due to poor compliance by organisations, it has decided to move from the current

persuasion, advocacy and institutional accountability to carrying out strong enforcement to ensure compliance.

The Fund said it will be seeking for stronger legal backing which will lead to the review of enforcement provisions on the ECA to increase penalties for defaulters.

Managing Director and Chief Executive of the Fund, Barrister Oluwaseun Faleye disclosed

this while speaking through the Abuja Regional Manager, Mrs. Bridget Ashang, at the annual conference of the Labour Correspondents Association of Nigeria, (LACAN) in Abuja. In a paper titled, "Employees' Compensation Enforcement: Issues and Challenges in the Oil and Gas Industry," the NSITF's boss said the Fund has faced challenges getting many operators in the Oil and gas sectors to register with the scheme.

Police Arrest Two British Men in Stabbing Rampage on UK Train

Emmanuel Addeh in Abuja

Two British men have been arrested on suspicion of attempted murder in connection with a stabbing rampage on a London-bound train that sent 11 people to the hospital with serious injuries, the police said Sunday morning.

Officials said they did not believe the attack was

terrorism related, but offered no potential motive for the spree on Saturday evening, which forced a commuter train from northern England to make an emergency stop.

Of the 11 wounded, four have been discharged from the hospital but two remain in “life-threatening condition,” officials said, according to a report by the New York Times.

The police said the suspects,

a 32-year-old and a 35-yearold, are British nationals who were born in the United Kingdom.

“At this stage, there is nothing to suggest that this is a terrorist incident,” John Loveless, the superintendent of the British Transport Police, said in a statement. “We continue to work to establish the full circumstances and motivation for this incident.

At this early stage, it would not be appropriate to speculate on the causes of the incident” Loveless added.

The attack was the latest in a string of recent stabbings in Britain that has put the country on edge. Last month, a man attacked worshipers at a Manchester synagogue on Yom Kippur, killing one person and wounding several others.

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NIGERIA, THE U.S. AND THE POLITICS OF PERCEPTION

The violence in Nigeria is not a war between two faiths, argues ABDULHAMID ABDULLAHI ALIYU

See page 21

A CONFERENCE OF IDEAS

FREDRICK NWABUFO argues that the citizen engagement in Akure is worth it

See page 21

EDITORIAL

opinion@thisdaylive.com

After years of theft and vandalism, the petroleum industry is increasingly getting stable with renewed economic vigour, reckons AKPANDEM JAMES

NIGERIA’S OIL SECTOR REBOUNDS

In my 2021 article on the impact of nonstate actors in Nigeria’s oil and gas sector, I observed that it was still night time for the country’s petroleum industry despite the bright flares in the oil fields. That position stemmed from the rampant activities of militants and vandals in the Niger Delta, where much of Nigeria’s hydrocarbon wealth is derived. It captured the mood of a nation struggling to protect its most valuable resource.

The contrast between the glowing flares and the grim reality on the ground underscored the deep challenges confronting the sector. Militants and vandals had turned oil theft into a thriving enterprise, siphoning crude, vandalising pipelines and crippling production. Constant agitation, youth unemployment and perceived neglect by oil companies further fuelled restiveness. Initially, many of the militant groups emerged as selfdetermination movements demanding fair compensation and development for host communities. Over time, however, several degenerated into criminal gangs engaged in pipeline sabotage, hostage-taking and large-scale oil theft.

These activities severely disrupted production and exports. Between 2012 and 2014, intermittent vandalism plagued the industry, but by 2015 - 2016, the attacks had become highly organised and devastating, assuming a geo-political dimension.

Following the 2015 presidential election, in which President Goodluck Jonathan, an indigene of the Niger Delta region, lost, oil production fell from an average of 1.9 million barrels per day (mbpd) in 2015 to 1.4 mbpd in 2016, Nigeria’s worst output in three decades. An estimated 750,000 barrels of crude were lost daily in May 2016 alone, as militants launched massive assaults on oil installations and trunk lines.

The consequences were dire: production losses, high maintenance and security costs, rising community settlement expenses and massive revenue depletion. As a largely monocultural economy reliant on oil for over 70 percent of government revenue, Nigeria’s fiscal stability was severely compromised. Even with military intervention, vandalism and theft persisted, robbing the economy of billions of naira and exposing the vulnerability of the petroleum sector.

By 2021, before the enactment of the Petroleum Industry Act (PIA), Nigeria was losing an estimated 102,900 barrels of crude daily and billions of naira in lost revenue. The prolonged decline in production and global oil price slump pushed the economy into recession in 2016. Investor confidence waned and the sector appeared trapped in a cycle of instability.

and 2022, when vandalism and oil theft peaked. By August 2022, Nigeria had lost its status as Africa’s largest oil producer to Angola, with output dropping below one million barrels per day, and rallying to about 1.1 million barrels per day by the close of the year. Fiscal instability deepened and the industry’s credibility plummeted to an all-time low.

A turning point came with the inauguration of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in October 2021 under the PIA (2021). The Commission, under the leadership of Engr. Gbenga Komolafe launched a coordinated response to the challenge, combining policy reform, community engagement through the Host Community Development Trust (HCDT) and advanced security surveillance. It leveraged inter-agency collaboration and embarked on both kinetic and non-kinetic assaults on the twin menace of crude theft and infrastructure vandalism.

In 2023, the Nigerian Upstream Petroleum Measurement Regulations became enforceable. It facilitated a comprehensive metering audit of upstream facilities that improved transparency and accountability. These measures plugged long-standing loopholes in crude evacuation. Oil theft, which had exceeded 200,000 barrels per day before 2019, according to NNPC records and Senate reports, dropped to below 10,000 barrels in 2025, the lowest level in over a decade. The approval of 37 new crude evacuation routes by the NUPRC further bypassed theftprone channels, while HCDT projects provided alternative livelihoods for local youths who once aided pipeline vandalism.

engagement, the wings of non-state actors seem to have been clipped and the tide of crude oil theft is fast receding. The results are visible. By October 2025, Nigeria’s crude production had climbed from 1.1 mbpd in 2022 to 1.7 mbpd, restoring its place among Africa’s top producers. Between 2021 and 2025, NUPRC contributed ₦33.6 trillion to the Federation Account, high above earlier projections. In 2024 alone, it generated ₦12.87 trillion, and by August 2025, another ₦7.7 trillion had been contributed to the national treasury. According to a recent report of the National Bureau of Statistics (NBS), Nigeria’s economy grew by 4.23 percent in 2025, propelled largely by increased oil output and nonoil expansion. Daily crude losses fell from 102,900 barrels in 2021 to just 9,600 barrels in 2025, a 90 percent reduction that restored fiscal balance and market credibility. These figures tell a story of resilience and reform. A sector once crippled by theft is now powering national growth.

Beyond the economic rebound, the reforms have yielded broader social and environmental dividends. The creeks are cleaner, communities are more peaceful, and relations between host communities, oil firms and government are increasingly cordial. Thousands of youths are now engaged in productive ventures under the HCDT framework, reducing their dependence on illegal bunkering and make shift kpo-fire refineries.

Meanwhile, the petroleum sector is gradually shifting from export dependence toward refining balance. Indigenous participation is rising as international oil companies divest from onshore assets. The completion of the Dangote Refinery and the expansion of modular refineries have enhanced domestic processing capacity, cutting export dependency and reducing incentives for theft. Again, this evolution signifies a strategic move toward energy security and self-sufficiency.

James, a member of the Governing Board of the Nigerian Institute of Journalism, is a Fellow of the Nigerian Guild of Editors. SECURITY THREATS TO

The situation worsened between 2020

Employment and empowerment through these community projects have significantly reduced crude theft and infrastructure vandalism. As the environment recovers from decades of contamination, the Niger Delta is witnessing renewed peace and economic inclusion. Sustained implementation of the HCDT promises to further uplift host communities, boost oil output and enhance revenue returns. Through the coordinated approaches, including robust community

From the dark years of 2021–2022 to the brighter outlook of 2025, Nigeria’s oil sector has travelled a long, hard road. The transformation was not spontaneous. It was earned through reform, innovation and collaboration. Today, oil theft is no longer the defining story of Nigeria’s petroleum industry. The new narrative is one of resilience, growth, stability and renewed economic vigour. The restive night, it seems, is finally giving way to a glowing dawn over the Niger Delta.

The violence in Nigeria is not a war between two faiths, argues ABDULHAMID ABDULLAHI ALIYU

NIGERIA, THE U.S. AND THE POLITICS OF PERCEPTION

When the United States recently classified Nigeria once again as a “Country of Particular Concern” over alleged religious persecution, many Nigerians reacted with a mixture of surprise, frustration and weary familiarity. It was not the first time Washington has made such a designation, but the tone and timing especially coming alongside firm public statements from President Donald Trump sparked anxiety about Nigeria’s international standing and the wider implications for diplomatic and economic relations.

The label, tied to claims that Christian communities face targeted suppression and insecurity, did not emerge in isolation. Evangelical groups and rights advocates in the U.S. have sustained pressure for years, insisting that Nigeria is witnessing a systematic campaign against Christians. That narrative has gained traction in certain policy circles abroad, even as it remains contested by many Nigerian stakeholders, security experts, and interfaith leaders.

Yet the picture inside Nigeria is more complex than one storyline suggests. There is no denying that Christian communities have suffered devastating attacks in parts of the country, particularly in the Middle Belt and Northeast. Churches have been razed, worshippers killed, and entire communities displaced. But Muslims too, especially across Borno, Yobe, Katsina, Zamfara and Sokoto have been victims of terrorism, banditry and targeted killings. Mosques have been attacked; religious scholars abducted and murdered. Entire villages, predominantly Muslim, have been wiped out by armed groups.

Nigeria’s reality is not a war between two faiths. What the country faces is a combination of terrorism, rural banditry, communal conflicts, climate-induced migration pressures, cattle-route disputes, land use clashes, and the legacy of weak local governance structures. To reduce this layered crisis to a single religious persecution narrative is not only inaccurate, but risks deepening suspicion among communities already struggling with fear and mistrust. Still, criticism should not be dismissed simply because its framing is imperfect. Nigeria has a duty to protect every citizen, regardless of religion or location. For too long, families across this country whether in Southern Kaduna or Zamfara forests, in Plateau villages or Borno communities have buried loved ones without justice. That national pain must be acknowledged honestly. Security failures, uneven responses, and slow justice mechanisms

have fed frustration. Diplomatic contests should not make us blind to domestic responsibilities.

The federal government’s response so far has been measured, rejecting the U.S. designation as misguided, while reaffirming Nigeria’s commitment to religious freedom and interfaith harmony. It is a wise approach. Anger may be emotionally satisfying, but diplomacy requires restraint. Nigeria cannot afford avoidable strategic friction with a global partner whose support remains vital in counterterrorism, trade, and military cooperation.

At the same time, Nigeria must not appear defensive or passive. The moment calls for quiet confidence backed by visible action: stronger prosecution of violent actors, transparent reporting on communal incidents, improved early-warning systems, interfaith dialogue at community level, and a firmer hand against inflammatory rhetoric from religious or political figures. Policy must meet principle.

The United States, for its part, must resist being guided by lobby groups alone. Nigeria’s story cannot be reduced to campaign talking points or foreign ideological battles. A balanced reading of our challenges recognises that both mosques and churches have fallen under attack and that extremists exploit sectarian fear precisely to divide Nigerians.

There are consequences if this misunderstanding continues. Visa restrictions, partnership strain, and reputational damage are not theoretical risks. They can affect students, investors, families and businesses. Neither Abuja nor Washington stands to gain from an avoidable spiral. Both countries require each other — for regional stability, counterterror operations, trade, and democratic governance.

Nigeria should not shy away from accountability, but neither should it accept a mischaracterisation of its troubles. Our armed forces — made up of Muslims and Christians — have fought and died together in the same trenches. Our communities, despite tensions, continue to intermingle, marry, trade and coexist daily. That reality deserves recognition.

The task now is to protect citizens while protecting the truth. Nigeria must demonstrate seriousness, not insecurity. Quiet reform, steady diplomacy, and firm national messaging will serve the country better than loud confrontation.

In moments like this, maturity matters. The world is watching to see not whether Nigeria has challenges — every nation does — but how Nigeria responds. A confident country fixes its weaknesses without surrendering its dignity. That is the path that protects lives, preserves unity and strengthens the nation’s voice on the global stage.

In the end, what Nigeria needs is not applause abroad but peace at home. And that peace will come not from foreign declarations but from strong institutions, fair justice, and leaders and citizens committed to refusing the dangerous politics of faith and fear.

Aliyu

is a journalist and syndicate writer based in Abuja

FREDRICK NWABUFO argues that the citizen engagement in Akure is worth it

A CONFERENCE OF IDEAS

Early last week, I joined members of the Presidential Communication Team to Akure, Ondo State, on an important assignment – the Citizen-Government Engagement in the South-west. The event, which was held at the International Conference Centre, Akure, was a confluence of ideas, treatises, thoughts, and prescriptions on the development effort of the South-west zone and, in a broader context, of Nigeria. It sufficiently achieved its purpose.

The town hall was well-attended, attesting to its significance. Governor Lucky Aiyedatiwa of Ondo State, the chief host; Governor Babajide SanwoOlu of Lagos State, the co-host, and representatives of the governors of other South-western states were on hand. Traditional rulers, the leadership of Afenifere, thought leaders, business executives, religious leaders, and citizens of all persuasions were at the indaba. The federal government delegation, led by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, was also on hand.

The summit was robust in intellectual offerings, with challenges deconstructed and solutions inventorised. It was not another talk-shop. With a twoway communication dynamic, the representatives of the government on the one hand and the stakeholders on the other hand jaw-jawed and compared notes on the fundamentals of development, democracy, and nation-building.

The Minister of Finance reiterated that the economy had recovered and is now on the path of growth and prosperity. He emphasised that the current reforms would be sustained so that their gains can percolate further down to the citizenry. He also enumerated some of the policies and programmes of the administration, such as CREDICORP and NELFUND, with Nigerians of all demographics, geographic distribution, and backgrounds as beneficiaries.

Minister of Power, Adebayo Adelabu, gave a good rendition of the developments in the power sector. He extolled the Electricity Act Amendment Bill, 2024, signed by President Bola Tinubu, which decentralises the electricity sector, as causing a tectonic shift in the industry.

‘’The vibrancy we have today has never been like this,’’ the Minister said. He said the electricity sector has generated over N2 trillion between 2023 and 2025, and that electricity distribution companies have recorded a 70 percent increase in revenue so far.

The Minister of Marine and Blue Economy, Chief Adegboyega Oyetola, spoke eloquently on the milestones achieved in the sector in the past two years. He said there has been no incident of piracy on our waters within this period, which further reduces insurance premiums on Nigeria-bound cargoes and vessels.

The Special Adviser to the President

on Energy, Mrs Olu Verheijen, explained that the government is expanding pipelines, such as the Escravos–Lagos System, delivering gas to industries in Sagamu, Ibadan, and Ilorin, with Ondo State directly benefiting as the network spreads across the South-west. She also said over $8 billion in new upstream gas investments have already been unlocked, with another $20 billion expected by 2029.

‘’Gas is not just for electricity. It is the raw material for fertilizers, methanol, and petrochemicals. These are the nutrients that make our farmlands more productive, our factories busier, and our exports more competitive. New gas projects will feed fertilizer and petrochemical plants that support farmers in Ondo, Ekiti, and Oyo, reducing fertilizer costs, boosting crop yields, and powering local agro-processing industries,’’ Mrs Verheijen said.

The Minister of State for Health, Dr Iziaq Adekunle Salako, revealed that 14 million girls have been vaccinated against HPV in Nigeria under the Tinubu administration, describing it as the largest in Africa.

From the private sector, Mr Olufemi Awoyemi, chairman of Proshare Limited, who delivered a keynote address, acknowledged that with the bold reforms and successful policy interventions undertaken by the Tinubu government, the administration has steered the economy towards a recovery – and that Nigeria's recent removal from the list of countries under increased financial monitoring, commonly referred to as the "grey list" by the global Financial Action Task Force (FATF) provides a further reference point to how far we have come from despondency to definite expectation.

‘’The data explicitly indicate that this is the first time Nigeria will recover from an economic crisis without a global fiscal respite, and that this recovery is not premised on luck but predicated on policy, not default but by design,’’ he said.

My takeaway from the conference is best captured in the words of Chief Bisi Akande, who delivered a trenchant speech: ‘’We support President Tinubu not only because he is our own but because he is the one with the courage to make change happen, to take tough decisions.’’

Nwabufo is Senior Special Assistant to the President on Public Engagement

Editor, Editorial Page PETER ISHAKA

Email peter.ishaka@thisdaylive.com

SECURITY THREATS TO THE NATIONAL ASSEMBLY

Security agencies could do more to secure the Federal Capital

Territory

Amid rising security concerns in the Federal Capital Territory (FCT), chairman of the House of Representatives committee on internal security, Garba Muhammad has raised the alarm that the National Assembly complex is under security threats. During a public hearing on a bill seeking to establish a specialised legislative internal security agency last Tuesday, Muhammad said intelligence reports and security incidents in recent months have revealed that the legislative complex has increasingly become a target for criminal attacks. He added that the influx of people, including visitors, lobbyists, and demonstrators, has made the complex a vulnerable target. Indeed, the National Assembly is already a bustling bazaar of criminality, with reported cases of people bearing fake identity cards, cases of car thefts, vandalism, and others appearing in offices without formal appointment.

ping, armed robberies and other opportunistic crimes are on the rise. The violence is accentuated by the recent tragedies of an armed robbery in Katampe Extension, Mabushi, resulting in the death of an Arise Television reporter, Somtochukwu Maduagwu, and the killing few days later of a veterinary doctor, Ifeanyi Ogbu and the abduction of his three children.

When a country cannot guarantee the security of life and property for residents of its federal capital, people have reasons to fear

Though Muhammad did not mention when the recent threat was issued or the group responsible, such threats are not new in the FCT, nor across the nation at large. We therefore enjoin the federal government to take the warning seriously than dismissing the terror alerts as mere scaremongering. In May 2021, a security alert warned lawmakers of a planned Boko Haram attack on the National Assembly complex, and other prime government locations in Abuja, leading to intense security measures around its premises. Besides, suicide bombers have indiscriminately targeted public infrastructure and civilians in Abuja, including the 2011 attack on headquarters of the United Nations in Abuja, killing at least 18. A year after killing dozens of people in separate attacks around Nyanya, another bomb blast in Abuja in 2015 killed dozens of others and injured many more.

What compounds the situation is that in recent times, Abuja residents have been sounding the alarm and expressing frustration over the failure of security forces to safeguard the city. Kidnap-

T H I S D AY

EDITOR SHAKA MOMODU

DEPUTY EDITOR WALE OLALEYE

MANAGING DIRECTOR ENIOLA BELLO

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GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU

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Letters to the Editor

When residents of the capital city of a country not only move around with a sense of foreboding but also feel uncertain about the capacity of the authorities to deal with such challenge, then there is a problem. Besides, when a country cannot guarantee the security of life and property for residents of its federal capital, people have reasons to fear. Today in the FCT, armed robbers operate within the city centre, including in highbrow areas like Maitama and Asokoro, and they have now been joined by kidnappers who abduct people in broad daylight. Yet, the strategic importance of Abuja not only as the seat of power but also the home to all foreign embassies and international agencies cannot be overemphasised.

Initially, the rising tide of insecurity within the FCT was confined to the satellite communities that are home to low-income earners. Angry youths bereft of opportunities across the country had been moving into communities like Kuje and Gwagwalada. But what started with occasional cases of opportunistic criminals robbing unsuspecting passengers inside commercial vehicles in those suburbs has since escalated into the emergence of terror cells. The July 2022 attack by the Islamic State West Africa Province (ISWAP) operatives on Kuje Prison in Abuja where hundreds of inmates (including their detained members) were let loose, after killing several people should be an eye opener. While it may not be necessary to create a separate security directorate for the National Assembly because of increased bureaucracy and overlapping functions, there is need to strengthen its security, as indeed, other parts of the country.

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.

ANAMBRA GOVERNORSHIP ELECTION: A LITMUS TEST FOR INEC CHAIRMAN

As the people of Anambra State prepare to elect a new governor on November 8, 2025, the nation’s attention has once again turned to the Independent National Electoral Commission (INEC) and particularly, to its new chairman, Professor Joash Amupitan.

There is no denying that Nigeria’s electoral process has often been riddled with controversies from logistical failures and delayed voting to allegations of vote buying and result manipulation. However, the upcoming Anambra governorship election presents a critical opportunity for INEC to restore public confidence in the nation’s democratic process.

Professor Amupitan, who recently assumed office as INEC Chairman, has pledged to deliver elections that are free, fair, and credible. His commitment will, however, be

tested in Anambra, where political competition is traditionally fierce and public expectations are high. To achieve this, the conduct of INEC officials, both at the headquarters and in the field will be crucial.

Beyond assurances and public statements, the new chairman must ensure that INEC’s field officers are properly monitored and held accountable for their actions. Any form of compromise or negligence at the polling units could undermine the integrity of the entire process.

One major challenge that has continued to plague Nigerian elections is vote buying, which has gradually become a threat to the credibility of the electoral system. This menace must be confronted decisively in Anambra. INEC, in collaboration with security agencies, must ensure that perpetrators are apprehended and prosecuted. Security opera-

tives, on their part, must conduct themselves with neutrality and professionalism, providing protection for voters and election materials without fear or favour.

Furthermore, INEC should, as a matter of urgency, guarantee the electronic transmission of results from all polling units through the INEC Result Viewing Portal (IReV). Transparency demands that collated results must tally with those transmitted electronically to avoid discrepancies and disputes that often mar elections.

In addition, voter education must be taken seriously. Many election-day challenges stem from poor voter awareness, misinformation, and lack of understanding of electoral procedures.

Tochukwu Jimo Obi, Abuja

SDF: Banks Deposit with CBN Reached Record High of N64.55trn in October

Signalling significant excess liquidity in the financial system, banks’ deposits with the Central Bank of Nigeria (CBN) grew to N64.55 trillion, setting a record high in October 2025.

This represents a 27.2 per cent increase over the N50.73 trillion record set in September 2025.

Banks’ deposit excess cash with CBN via Standing Deposit Facility (SDF), while the CBN lend to banks through Standing Lending Facility (SLF) window to enable them meet critical overnight obligations with an interest rate as high as 24.9 per cent as of October

2025.

The financial data from CBN so far in 2025 showed that banks deposited more cash than they borrowed to underline excess liquidity in the financial system.

THISDAY analysis of CBN numbers showed that banks’ deposit with CBN between January -October 2025 stood at N210.74 trillion, representing an increase of 694.68 per cent from N26.52 trillion between January -October 2024.

Analysts attributed the growth to high credit risk concerns and a preference for the safety of the regulator window rather than lending into the real sector.

“With high benchmark rates for lending and borrowing,

the Central Bank of Nigeria (CBN) has revealed.

Currency in circulation (CIC) in Nigeria fell below the N5 trillion mark for two consecutive months of August and September 2025, marking the first time this year that the figure has remained under the threshold, the ‘Money and Credit statistics’ data from

The CBN’s money supply data showed that total CIC stood at N4.95 trillion in September, slightly higher than N4.92 trillion in August, but still below the N5 trillion mark sustained between February and July. This, analysts posits represents a continued

and concerns about credit risk and economic uncertainty, banks may prefer the relative safety of the SDF. It offers them a known return rather than extending credit into uncertain territory,” said Vice President, Highcap Securities Limited, Mr. David Adnori.

While banks eagerly placed excess funds with the apex bank, borrowing from the CBN slowed as pressures in the interbank market relaxed.

However, SLF requests settled at N995.5 billion in October 2025, about 30,9061per cent increase over N322million in September 2025.

The increase signalled a recovery in liquidity conditions and a more comfortable cash stance heading into 2026.

moderation in cash supply, reflecting a more cautious liquidity environment and improved cash management within the banking system.

Prior to August, Nigeria’s CIC had hovered above N5 trillion for seven consecutive months. The central bank reported N5.04 trillion in February, N5.00 trillion in March, and N5.01 trillion

A further breakdown showed that SLF between January-October 2025 stood at N69.43 trillion, nearly 34 per cent drop from N105.19 trillion between JanuaryOctober 2024.

Earlier in the year, SLF demand was relatively high at N24.8 trllion in February 2025, slightly before easing to N16.49 trillion in March 2025.

That mixed behavior showed that although system liquidity was strengthening, some institutions still required overnight support to rebalance their books.

No repo or reverse-repo transactions were recorded throughout 2025, indicating that the regulator did not need to deploy additional

between April and May, before a gradual easing began in midyear. June recorded N5.01 trillion, while July marked the start of the sub-N5 trillion trajectory that continued through the third quarter.

The pullback in currency supply coincides with ongoing monetary tightening, increased adoption of digital

liquidity-management tools beyond its standing facilities.

Explaining the factors driving the cash glut, Adnori recalled that total credit to the private sector stood at N72.53 trillion in September 2025, down from N75.88 trillion in August 2025, and only slightly higher than N76.13 trillion in June 2025- as the CBN did not disclose July 2025 total credit to the private sector.

This stagnation, he said, suggests that banks are holding back on new lending despite having liquidity to spare.

Analyst said that the sharp surge in Nigerian SDF placements with the CBN, therefore, is more than a

payment channels, and the CBN’s effort to mop up excess liquidity from the economy in response to inflationary pressures.

However, the report shows that currency outside banks accounting for over 90 per cent of total circulation, estimated at N4.47 trillion in September which also indicates an improved figure.

fleeting statistic.

“It captures a deeper tension between liquidity abundance and lending reluctance in the financial system. Beneath the numbers lies a complex web of caution, policy tightening, and an economy grappling with uncertainty. Banks are not acting irrationally. They are responding to signals from an environment marked by high inflation, exchange rate volatility, and weak consumer confidence,” he added.

Amid drop in MPR to 27 per cent, the CBN adjusted the standing facilities corridor around the MPR to +250/-250 basis points.

Market watchers said the recent trend, if sustained, could signal a gradual rebalancing in the CBN’s liquidity management efforts, even as the apex bank seeks to deepen financial inclusion, promote digital payment adoption, and strengthen confidence in the formal financial system.

^14.55

COURTESY VISIT…

L-R Front Row, Registrar Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN), Mrs Uzoamaka Azike;  President/Chairman of Council, BRIPAN, Mr. Chimezie Ihekwaezu and Managing Partner of ECOVIS OUC Chartered Accountants, Mr. Andrew Uviase. L-R Backrow, Senior Manager Technical Matters, Henry Dugbele;  Partner Audit and Assurance Services, Michael Aghwana;  Senior Manager Tax and Regulatory Services, Danjuma Usman; Partner, Consulting and Insolvency Practice, Secretary BRIPAN Victoria Okpako and Client Service Manager, Mary Omimi all of  ECOVIS OUC Chartered Accountants, when BRIPAN members paid a courtesy visit to ECOVIS OUC Chartered Accountants in Lagos… recently

CIBN Calls for Collaboration, Innovation to Drive Banking Beyond Boundaries

The President and Chairman of Council of the Chartered Institute of Bankers of Nigeria (CIBN), Prof. Pius Deji Olanrewaju, has called for stronger collaboration among regulators, banks, and stakeholders to deepen digital transformation and strengthen human capital capacity in Nigeria’s financial sector.

Delivering his opening address at the CIBN Fellowship Investiture Ceremonyheld in Lagos, Olanrewaju emphasised the need for the banking industry to continue

Sterling Bank’s Chief Executive Officer, Abubakar Suleiman,

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)

leveraging technology to drive performance, inclusion, and sustainable growth.

The ceremony, themed, “Banking Beyond Boundaries: Leveraging Technological Innovations for Enhanced Performance in the Nigerian Banking Industry,” brought together top leaders from government, finance, and technology.

Olanrewaju noted that the event marked a significant moment in the institute’s history as it conferred honours on 687 distinguished individuals, including 21 Honorary Fellows, 440 Elected Fellows, and 225 Honorary Senior Members

has called on Nigerian youth to take a more deliberate role in shaping the country’s future through active participation in governance and nationbuilding.

Speaking at SMFEST Abuja 2025, themed ‘Africa Unlocked: Leading the Digital Revolution,’ Suleiman delivered a compelling presentation titled ‘Built To Last,’ emphasising that nationbuilding requires deliberate effort, personal sacrifice and a long-term commitment to achieve enduring institutions.

“The future of Nigeria depends largely on the willingness of young people to build legacies that outlive them,” Suleiman said. “You cannot build a nation through words alone; you must participate, contribute, and commit to building systems that serve your community.”

(HCIB). He congratulated the awardees, describing their elevation as a recognition of their “dedicated service as torchbearers of innovation and integrity” and their lasting impact on the nation’s banking profession.

Chinedu Eze

The President of the National Association of Nigerian Travel Agencies (NANTA), Mr. Yinka Folami, has said that the federal government would soon stop foreign airlines from selling their tcikets in dollars.

Emma Okonji

The federal government has been advised to create policy frameworks that will enable the growth of innovators in the media space.

Chairman, MTN Nigeria,

Travel agencies had cried out that international carriers sell their flight tickets in dollars, which negates the rules and puts pressure on the naira and foreign exchange.

Folami said the ‘dollarisation’ of the aviation sector will soon become a thing of the past because government is now addressing the problem. Speaking on a cultural and tourism programme in Lagos at the weekend, the NANTA President explained that there is no need to sell tickets in foreign currency again in Nigeria and described the practice as an outdated system that will soon fade out in Nigeria’s aviation industry.

Dr. Ernest Ndukwe, gave the advice while addressing a gathering of public and private sector leaders, including policy makers during Africast 2025 Conference, organised by the Nigerian Broadcasting Commission (NBC) at the Lagos Sheraton Hotel, recently.

The Standard Organisation of Nigeria (SON), has warned manufacturers and retailers in Rivers State and South South Region at large to desist from circulating fake and substandard products.

Ebere Nwoji

Ndukwe, in his keynote address themed: ‘From Liberalisation to the Digital Surge: Building Africa’s Next Generation Media

The SON gave the warning at the weekend, during a jointed stakeholders awareness walk in Port Harcourt, Rivers State capital, on the impact of substandard products on Nigerians.

Speaking after the awareness walk, SON Director in charge of South South Region, Mrs Esther Okon, explained that the walk was in commemoration of the World Standard Day, marked every October 14.

Infrastructure’, explained how liberalisation of the media expanded its outreach in Nigeria that led to the current digital media surge and revolution, which he said, brought about a diversified press.

Okon said, “This is actually an internally day kept aside to be celebrated for the development of standard and for regulators, consumers and manufacturers to recognise them and their contribution in standard development”.

In a deliberate effort to reduce the number of uninsured vehicles on Nigerian roads and ensure prompt compensation and medical support for accident victims, the National Insurance Commission (NAICOM), and the Federal Road Safety Corps (FRSC), have inaugurated a Joint Committee on the enforcement of compulsory Third-Party Motor Insurance.

Sunday Ehigiator

LAPO Microfinance Bank, has reaffirmed its commitment to

The Commissioner for

promoting inclusive growth and climate resilience through sustainable finance.

The bank made this

Insurance, Mr Olusegun Ayo Omosehin, at the inauguration held at NAICOM’s Headquarters Abuja, said the development it marks a major step in the implementation of the provisions of the Nigerian Insurance Industry

known during the second edition of its Sustainable Finance Conference, held over the weekend, with the theme,

Reform Act (NIIRA) 2025 and reinforces both institutions’ shared commitment to strengthening road safety, promoting insurance compliance, and ensuring prompt compensation for accident victims.

‘Microfinance for Climate Resilience: Empowering Communities, Driving Innovation, Shaping Policy.’

Malize: FITC Driving Africa’s Financial Transformation through Knowledge, Innovation, Leadership

The Managing Director and Chief Executive Officer of the Financial Institutions Training Centre (FITC), Dr. Chizor Malize, is steering a bold era of transformation within Africa’s financial ecosystem. Under her visionary leadership, FITC with over four decades of institutional legacy and trust is redefining capacity building, governance, and digital innovation, empowering leaders and organizations to thrive in a rapidly evolving financial landscape. In this exclusive interview Malize, shares powerful insights on how the institution is shaping the future of finance through innovation, leadership, and knowledge excellence. Founded by the Central Bank of Nigeria (CBN) and the nation’s Deposit Money Banks, FITC has, for over four decades, remained the trusted capacity-building partner for the financial services industry. Today, under Malize’s forward-looking leadership, FITC is expanding its influence across Africa — driving digital transformation, governance excellence, and ethical leadership while inspiring a new generation of resilient, future-ready financial professionals.

FITC has an impressive legacy spanning over four decades, with a unique institutional ownership by the Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Corporation (NDIC), and the Bankers Committee. Can you share how this unique heritage and ownership structure have shaped FITC’s mandate and enabled its lasting impact on the financial services sector in Nigeria and across Africa?

FITC’s story is one of legacy, leadership, and lasting impact. Established over 40 years ago FITC was conceived as a bold institutional response to a critical need to build the human and institutional capacity that would power the growth and resilience of Nigeria’s financial system. Our ownership structure backed by the apex bank and the industry itself gives us a unique vantage point.

We are positioned right at the intersection of policy, regulation, and practice, enabling us to understand the full spectrum of the financial ecosystem. This alignment has been instrumental in ensuring that our knowledge solutions are world class, dynamic, relevant and industry-focused.

Over the past four decades, FITC has consistently shaped the evolution of the financial sector knowledge by training over 300,000 financial services professionals, influencing corporate governance practices, nurturing ethical leadership, and advancing institutional excellence through innovative knowledge solutions. But beyond the numbers, our real legacy lies in the transformation stories of the leaders we have built, the individuals who now sit at the helm of banks, regulatory bodies, and financial institutions across Africa. As we mark this era of innovation and growth, FITC continues to stand as a beacon of knowledge, integrity, and transformation, leveraging our heritage to shape the future of finance, not just in Nigeria, but across the African continent.

FITC has become synonymous with innovation and excellence in capacity building for the financial services industry. How has FITC strategically evolved to remain at the forefront of transformation and knowledge leadership in such a dynamic sector?

FITC’s evolution has been intentional, strategic, and purpose-driven. We recognized early that the financial services sector was entering a period of unprecedented disruption driven by technology, regulation, and shifting customer expectations. To remain relevant and ahead of the curve, we had to transform from a traditional training institution, the focus at foundation, into creating what has become today, a world class innovation led and technology driven knowledge hub.

Our strategy has been anchored on three critical pillars. They are Innovation, partnership and impact. These pillars guide how we design learning experiences, build partnerships, and shape thought leadership

across the African continent. We have reimagined our programmes to focus on future finance, risk management and compliance, governance, digital transformation, regulation and supervision innovation, sustainability, and leadership agility, ensuring that we are developing financial services professionals who are not only competent, but also visionary and adaptable.

Through our digital learning ecosystem and innovative delivery platforms, FITC has transcended geography, reaching participants in over 40 countries globally, delivering immersive, tech-driven learning experiences, and hosting signature though leadership conferences that define the industry agenda. We are deeply proud that our thought leadership initiatives such as the FITC ThinkNnovation Cybersecurity conference, the Technovation FinTech Conference, the Sustainability & ESG conference, the well acclaimed FITC Risk Roundtable & Summit, and the FITC Executive and Board Leadership programmes are now global references in the financial education landscape. Ultimately, FITC’s evolution is powered by our belief that knowledge is the most powerful catalyst for transformation. We are not just curating learning, we are equipping leaders to anticipate change, embrace innovation, and drive sustainable transformation across the financial ecosystem.

The world of finance is shifting rapidly, driven by digital transformation, regulatory changes, and emerging technologies. How is FITC helping financial institutions and professionals navigate this complex

landscape and stay competitive in an increasingly digital economy?

At FITC, we see digital transformation not just as a technological shift, but as a strategic redefinition of how institutions think, operate, and lead. Our mission has been to ensure that every financial institution and professional we engage with is fully equipped to thrive in this fast-evolving digital economy. We have taken bold steps to embed digital literacy, innovation thinking, and future-readiness into every one of our knowledge solutions.

Our programmes now focus on emerging technologies such as Artificial Intelligence, Blockchain, Cybersecurity, RegTech/Suptech, and FinTech Innovation, helping organizations understand their strategic relevance and operational applications.

Through our flagship initiatives — such as the thought leadership programmes, and the Future of Work Academy, (FOWA), we provide a unique convergence point for thought leaders, regulators, and innovators to exchange insights, co-create solutions, and accelerate digital transformation within the sector. What distinguishes FITC is our ability to translate complex digital trends into actionable knowledge. We help financial institutions move from awareness to adoption, and from adoption to measurable impact.

Whether through immersive learning, executive coaching, or strategic advisory services, FITC ensures that Africa’s financial professionals are equipped with the tools, agility, and mindset required to lead confidently in the digital age.

In essence, our goal is to make Africa’s financial ecosystem digitally intelligent, globally competitive, and sustainably

transformative with FITC at the centre, driving that evolution.”

FITC’s brand impact now extends well beyond Nigeria, reaching across Africa and into global markets. How have strategic collaborations and international partnerships amplified FITC’s influence and positioned it as a continental thought leader in financial education and innovation?

FITC’s mandate is continental in ambition and global in perspective. We understand that the challenges and opportunities shaping Africa’s financial landscape are interconnected with global developments and that to remain relevant, our impact must transcend borders. Over the years, we have deliberately pursued strategic international partnerships that strengthen our thought leadership and expand the reach of our transformative work. They include the International Finance Corporation (IFC), the Finance Accreditation Agency of Malaysia, Egypt Institute of Finance, extending to collaborations with leading global institutions, such as New York Institute of Finance (NYIF), CFTE and global technology firms to co-create cutting-edge learning experiences, research and Advisory solutions that reflect international best practice while addressing Africa’s unique realities. Through these partnerships, we have been able to bring world-class expertise into Africa and, equally important, export African insights and innovations to the global stage. Our participants now come from over 40 countries across five continents, and our programmes are benchmarked against global standards in finance, technology, leadership, governance, risk, innovation, and sustainability. We also play an active role in international knowledge exchange platforms — sharing the FITC experience at global conferences, multilateral forums, and regulatory summits. These engagements have reinforced FITC’s position as a strong voice in global financial transformation, a thought leader shaping conversations around digital innovation, ethical leadership, and financial inclusion.

Knowledge solutions often shape industry direction, quality of financial services offerings, offerings and policy evolution. What innovative knowledge platforms, programmes, or thought leadership initiatives has FITC pioneered that have significantly influenced governance, leadership, and innovation across the financial ecosystem?

At FITC, we believe that knowledge is the true currency of transformation. Knowledge shapes leadership, informs governance, and ignites innovation. Over the years, we have redefined the role of a learning institution by building platforms that not only transfer knowledge, but also influence policy, drive products and service innovation, and inspire leadership excellence across the financial ecosystem.

L-R: The 4th President and Chairman of the Council of Institute of Capital Market Registrars (ICMR), Dr. Catherine Nwosu; CEO, Coronation Registrar Limited, and 3rd President and Chairman of Council of ICMR, Mr. Oluseyi Owoturo;  Vice President, Dangote Industries, Olalekan Alake and, Chairman, Nigerian Exchange Group, Alhaji Umaru Kwairanga Alhaji Umaru Kwairanga  at the 14th Annual Conference and Presidential Investiture of ICMR in Lagos… weekend

NIMASA Accredits 27 Registered Shipyards for Operation in Nigeria

The Nigerian Maritime Administration and Safety Agency (NIMASA) has accredited 27 registered shipyards across the country. This, it said in a statement, is in accordance with its mandate enshrined in Section 22 of the NIMASA Act, 2007, and sections

335-339 of the Merchant Shipping Act, 2007, which gives it statutory powers to regulate, license, inspect and enforce standards for shipyard operations in Nigeria.

Out of the 27 accredited facilities, 10 are located in Lagos State, 8 in Rivers State, and 9 in Delta State. These are the only shipyards

Experts Explain Why Travellers Shun Nigerian Airports as Gateway

Air travellers from Ghana, Cameroon, Sierra Leon, The Gambia and other countries in the West Coast have shunned travelling through Nigeria to other long-distance destinations because of wrong negative perception of Nigeria as insecured country, industry experts have said.

President of Aircraft Owners and Pilots Association of Nigeria (AOPAN), Dr Alex Nwuba and the Managing Director of Aero Contractors, Captain Ado Sanusi, said that such perception, which needs to be corrected is the reason why some travellers from West and Central Africa have

to travel to Europe before connecting flights to another African country.

The experts noted that Nigeria is a natural hub by its location but it is yet to maximise the opportunity offered by its location and the fact that it has the highest number of airlines that operate in West and Central Africa.

Nwuba and Sansui, who was represented by Head of Sales at Aero Contractors, Mr Benedict Oluwafemi, spoke at JustAlive Communications Limited Maiden Summit themed: ‘Nigeria’s Transport Infrastructure: Innovation for a Sustainable Future,’ held in Lagos.

Ecobank Group Reports

$657 PBT in Nine Months

Ecobank Group, has announced a profit before tax of $657 million for the nine months ended September 30, 2025, up 34 per cent from $493.19 million declared in 2024.

Earnings per share rose 36 per cent to 1.29 US cents ($0.01), underpinned by sustained revenue momentum, disciplined cost management, and prudent risk practices. Net revenue grew 18 per cent to $1.8 billion, reflecting broad-based strength across business lines and regions. Operating efficiency continued to improve, with

the cost-to-income ratio (CIR) declining to 48per cent a record low for the Group.

Ecobank generated 14per cent positive operating leverage, as net revenue growth (+18per cent year-on-year) outpaced operating expense growth (+four per cent). The balance sheet remained resilient, supported by strong liquidity and capital buffers.

Gross loans increased $1.7 billion year-to-date to $12.2 billion, while customer deposits rose $3.7 billion to $24.1 billion. Asset quality also improved, with the nonperforming loan (NPL) ratio reducing to 5.3per cent from seven per cent in Q1 2024.

that have so far complied with the Agency’s stringent regulatory, safety, and operational standards.

Releasing the list of accredited shipyards in Lagos, the Director General of NIMASA, Dr. Dayo Mobereola, emphasised that

the accreditation exercise forms part of the Agency’s broader drive to enhance safety and streamline operational efficiency in the maritime industry.

He said, “Our goal is to ensure that every shipyard operating in Nigeria adheres

to international standards of safety, environmental protection, and operational efficiency. By maintaining a transparent and credible register of accredited facilities, we are boosting investor confidence, protecting maritime assets, and promoting sustainable industry growth. This underscores the Agency’s sustained commitment to promoting transparency, safety, and quality service delivery in ship repair, dry-docking, and vessel construction within Nigeria.”

Nigeria Unveils Plan to Boost Crude Oil Production to 3M Barrels Daily

Nigeria has unveiled an ambitious action plan to boost crude oil production to 3 million barrels per day and expand gas output to 12 billion cubic feet daily by 2030, following far-reaching resolutions adopted at the just-concluded NOG Energy

Week 2025 in Abuja.

The conference, held in Abuja, brought together over 6000 energy professionals, 250 exhibiting companies, and over 125 expert speakers from across the globe. It provided a platform for government officials, industry executives, and investors to forge partnerships aimed at

strengthening local capacity and driving the country’s energy independence.

Country Director of dmg Nigeria events and Portfolio Director, Energy, Wemimo Oyelana, described this year’s edition as a defining moment for the sector, noting that it bridged the long-standing gap between

government policies and industry capability.

Oyelana said: “The discussions around the ‘Nigeria First’ policy, indigenous operator capacity, and technological advancement have birthed actionable strategies that will define our energy sector’s trajectory.

Nigerian Breweries Reaffirms Drive Toward Achieving Net-zero by 2030

Nigerian Breweries Plc, Nigeria’s foremost brewing company, continues to progress its ambition to achieve net-zero carbon emissions in production by 2030 across its operations nationwide. The Corporate Affairs Director, Nigerian Breweries Plc, Uzodinma Odenigbo, stated this during a media parley/engagement

session over the weekend.

Odenigbo explained that the company has made significant investments in renewable energy solutions such as biomass, solar and energy-efficiency projects across its breweries to reduce carbon emissions across its breweries, and have signed power purchase agreements

to this effect.

He explained that over the last few years, the company had signed many power purchase agreements with different renewable energy firms to reduce its dependence on non-renewable energy sources.

He disclosed that the company has spent over N2.5

billion supporting its carbon reduction ambition across its operations as part of the Brew a Better World sustainability strategy.

In addition, he noted that the company has committed considerable resources by contributing to waterreplenishment projects in water-stressed areas.

ECOVIS Reaffirms Support for BRIPAN’s Business Recovery

Nume Ekeghe

The Managing Partner of ECOVIS OUC Chartered Accountants, Mr. Andrew Uviase, has pledged the firm’s continued partnership with the Business Recovery and Insolvency Practitioners

Association of Nigeria (BRIPAN) to strengthen the country’s business recovery framework and promote ethical insolvency practice.

Speaking during a courtesy visit by BRIPAN’s President and Council Members to the firm’s Lagos office on October 29, 2025, Uviase commended the association’s leadership for driving reforms that reposition the body as a catalyst for economic renewal and stability.

According to him, BRIPAN’s evolution from a focus on insolvency to business recovery reflects a modern, solution-oriented approach to economic challenges. “We are particularly pleased with the transformation of this great body from insolvency practitioners to an emphasis on business recovery — from an undertaker to a doctor that saves lives,” Uviase remarked.

ARCON Elevates 45 Advertising Professionals to Fellowship Status

Raheem Akingbolu

In a ceremony that underscored the continued evolution of Nigeria’s advertising profession, the Advertising Regulatory Council of Nigeria (ARCON), has conferred Fellowship status on 45 distinguished practitioners drawn from various segments of

the nation’s marketing communications industry.

Held in Lagos, the event marked a significant milestone in the professionalisation of advertising practice in Nigeria. The Fellowship, regarded as the highest honour within ARCON, is conferred on individuals who have demonstrated

sustained impact, intellectual contribution, and leadership in the field.

Speaking at the ceremony, ARCON Director-General, Dr. Olalekan Fadolapo, traced the regulatory journey of the profession from the Advertising Practitioners Registration Act of 1988 to the enactment of the ARCON Act 2022. He emphassed

that the Fellowship is not merely ceremonial, but a call to uphold the integrity and dignity of the profession. Chairman of the Fellowship Selection Committee, Mr. Emmanuel Ajufo, disclosed that 48 applications were received, out of which 45 candidates were deemed to have met the rigorous criteria.

As SEC, SMEDAN Move to Boost Access to Finance for MSMEs Business Special

The future looks very bright for micro, small and medium small scale enterprises as the Securities and Exchange Commission and the Small and Medium Enterprises Development Agency of Nigeria recently signed a pact to improve access to long-term financing for the businesses through the Nigerian capital market, writes Goddy Egene

The importance of micro, small and medium scale enterprises (MSMEs) to an economy can never be over emphasised. MSMEs are vital to an economy because they are a major source of job creation and thus play a crucial role in unemployment reduction. MSMEs also contribute a substantial portion of a country’s Gross Domestic Product (GDP). Similarly, they are often regarded as the engines of economic growth, helping to maintain stability and resilience of a nation’s economy. MSMEs are seen as poverty alleviators because as they are providing employment, they help raise the living standards, which in turn lead to social unity. Most of all, in this era of technology revolution, MSMEs are sources of new products and services, having a unique ability to adapt and disseminate innovations.

Nigeria has over 40 million MSMEs and an agency dedicated to growth and development of this group of businesses, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). But their potential have not been optimised majorly due to lack of access to funding. Apart from weak infrastructural base that made it difficult to operate profitably, the high cost of finance has also retarded the growth of MSMEs and thereby denying the country their economic benefits.

However, the story is about to change following the latest collaboration between the Securities and Exchange Commission (SEC) and SMEDAN. Both organisations have signed a Memorandum of Understanding (MoU) meant to improve access to long-term financing for 40 million SMEs through the Nigerian capital market.

According to them, this partnership is designed to create alternative sources of capital for registered micro, small, and medium enterprises (MSMEs) and help them to grow, create jobs, and contribute to the federal government’s $1 trillion economy target.

Specifically, the partnership is designed to bridge the gap between small businesses and the capital market.

Under this agreement, they the target is to list at least 1,000 MSMEs on the capital market. This means selected MSMEs will be able to raise funds by offering shares to investors, just like bigger companies listed on the Nigerian Exchange.

This access to equity financing, it is expected will reduce reliance on commercial bank loans, which often come with high interest rates and short repayment periods. But by connecting them to the capital market, the new collaboration will provide the MSMEs with sustainable funding options; encourage business expansion and innovation; create more jobs, thus reducing unemployment; enhance transparency and corporate governance among them.

The MoU was signed in Abuja and the Director-General of the SEC, Dr. Emomotimi Agama, said the initiative would open new funding routes for MSMEs and integrate them into the capital market ecosystem.

He said: “Capital is the bedrock of any company. Today we have about 40 million Small and Medium Enterprises that are duly registered with SMEDAN and it is important that as a capital market, we are able to find a route for these small and medium scale enterprises to be able to raise capital for sustainability.

“We also want to bring them on board the pipeline of listed companies in Nigeria where they will be able to democratise wealth and share a part of their institutions with Nigerians making sure that development is faster and to lead to the growth of the economy.”

According to him, the collaboration aligns with President Bola Tinubu’s agenda on employment, growth, development, and production, describing it as a critical step toward achieving the administration’s trillion-dollar economy vision.

Speaking in the same vein, the DG of SMEDAN, Mr. Charles Odii, said the MoU would enable small businesses to overcome the high cost and scarcity of capital by leveraging the capital market.

“Capital in this part of the world is very expensive and scarce. Through this collaboration, we are creating another source of financing for our medium-scale businesses. We have set ourselves a target of at least 1,000 SMEs listing on the capital market. This will galvanise growth, create wealth, and reduce unemployment in Nigeria,” he said.

The agreement between the two agencies seeks to deepen the integration of SMEs into the formal financial system and help them meet regulatory and governance standards required for market participation.

Among its major benefits, the MoU will improve access to long-term financing by supporting qualifying SMEs to raise funds through equity or debt securities under SEC regulations. It also provides for capacity building, as both agencies will organize training and awareness programs to educate SMEs on capital market participation, financial literacy, and corporate governance.

In addition, the SEC will contribute to SMEDAN’s five-year strategic policy framework to promote inclusive financing and SME-friendly capital market policies. SMEDAN, on its part, will identify and encourage qualifying SMEs to list on recognised exchanges, expanding their access to funding and business growth opportunities.

The collaboration will also facilitate debt market participation by guiding

creditworthy SMEs to issue debt securities to qualified investors, thereby widening their financing options beyond traditional bank loans. Both institutions will jointly organize a three-day national SME conference to engage stakeholders, promote market opportunities, and drive policy discussions.

Other objectives of the pact include, but are not limited to: facilitating improved access for qualifying MSMEs to the Nigerian capital market for longterm financing, in strict adherence to all applicable SEC regulations and with a paramount focus on investor protection safeguards; developing and implementing joint capacity-building initiatives, including targeted training programs and awareness campaigns, to educate MSMEs on the requirements, processes, and benefits of capital market participation; jointly promoting advocacy that would encourage eligible and mature MSMEs to consider listing their securities on any of the recognised securities exchanges and trading platforms in Nigeria and collaborating on the development of enduring policy frameworks and innovative financing instruments designed to foster the sustainable growth of MSMEs and systematically reduce the barriers to their access to long-term capital.

In achieving the objectives above, SEC and SMEDAN agreed to cooperate in the following areas: constituting a joint working group to steer, monitor, and report on the progress of this collaboration; SEC shall contribute to the development of SMEDAN’s five-year strategic policy framework by providing insights and recommendations, particularly on policies that promote SMEs’ access to the capital market and enhance financial inclusion.

On the other hand, SMEDAN shall encourage SMEs that qualify as public limited companies (PLCs) to consider listing on relevant capital market exchanges to expand their access to long-term funding, subject always to SEC rules and regulatory requirements. SEC shall provide technical support and guidance to SMEs on accessing the capital market, including regulatory

requirements and available instruments.

Also, they shall jointly embed capital market education into SMEDAN’s SME training modules and platforms, ensuring broader awareness and literacy among entrepreneurs.

SMEDAN shall involve SEC in the planning and execution of a three-day national SMEs conference, aimed at stakeholder engagement, policy discourse, and exposure to market opportunities.

They shall promote the participation of creditworthy private SMEs in the issuance of debt securities to qualified investors under SEC regulation; provide capacity-building initiatives to equip SMEs with the financial literacy and corporate governance standards necessary for debt market participation.

The SEC, in collaboration with SMEDAN, shall facilitate an enabling regulatory environment to support the participation of creditworthy private SMEs to access the capital market, in accordance with applicable SEC rules and guidelines. This includes the development of frameworks, standards, and guidance materials to promote financial literacy, corporate governance, and disclosure practices among SMEs, thereby enhancing their eligibility and preparedness for accessing the debt capital market.

They may share relevant data in furtherance of this MoU, provided that such sharing shall be conducted in accordance with the Nigeria Data Protection Act, 2023, and other applicable data protection laws.

Market operators and other stakeholders have commended the pact, saying it is right move in the right direction.

For instance, Mr. David Adonri of Highcap Securities Limited, said the the MoU between SEC and SMEDAN will enable SMEs to raise both equity and debt capital from the capital market.

“But they must meet the listing requirements which have been reasonably liberalised. Investors don’t really bother much if an issuer is small or large as long as the securities they issue are investment grade and that they have bright prospects. SMEs can actually start their journey in the capital market from NASD platform where they can be incubated for listing in the main market.”

Email: deji.elumoye@thisdaylive.com

08033025611 SMS ON lY

S’West Summit: Between Old Promises and New Hopes for Regional Rebirth

Fidelis David, in this report, examines the just-concluded two-day Southwest Leaders’ Summit with the theme ‘Strengthening Democracy Through Dialogue: assessing Progress, Charting the Future,’ asking if the gathering will finally birth real change or merely end as another ritual of rhetoric and photo ops.

For over three decades, the Southwest has gathered in summits, conferences, colloquia, and consultations to chart the path to self-reliance, federal balance, and economic renewal. From the 1990 Ibadan Declaration to the 2001 Oodua Economic Summit in Ile-Ife, to the 2017 Development Agenda for Western Nigeria (DAWN) Commission’s Summit in Abeokuta, one question has stubbornly lingered: what became of those resolutions that once promised a new dawn for the Yoruba nation?

Each of those meetings ended with beautifully worded communiqués, often declaring the Southwest’s readiness to lead Nigeria’s federal restructuring and reclaim its historic identity as a pace-setter in governance, education, and industry. Yet, decades later, the region remains shackled by the same questions: poor federal roads, uneven development, weak inter-state collaboration, and the unending wait for “true federalism.”

So, when governors, ministers, traditional rulers, and regional leaders once again converged on Akure last week for the Southwest Leaders’ Dialogue themed “Strengthening Democracy Through Dialogue: Assessing Progress, Charting the Future,” the question on many lips was inevitable: will this be the summit that finally births change, or just another ritual of rhetoric and photo ops?

Renewed Voices, Familiar Demands

The two-day gathering, jointly organised by Afenifere and the DAWN Commission, brought together the crème of the region’s political and intellectual class — from sitting governors and ministers to elder statesmen and monarchs. The atmosphere was one of cautious optimism.

At the heart of the conversation was a familiar demand: devolution of powers, true federalism, and regional cooperation as the only sustainable path for democratic and economic progress.

Governor Lucky Aiyedatiwa of Ondo State, the summit host, set the tone with a solemn reminder that democracy must evolve through dialogue and reform, not inertia. “Today, we stand at a threshold of history. Shall we continue with centralisation when true federalism demands devolution of powers? Strength without renewal fades. Dialogue must go beyond talk; it must birth action.”

He praised President Bola Tinubu’s administration for what he described as “laying the

foundation for regional development,” citing federal investments such as the Lagos–Calabar Coastal Highway, Ilaje Deep Sea Port, and Federal Housing projects in Ondo State as evidence that the Southwest was beginning to feel the impact of reform.

Yet beneath his optimism lay a quiet urgency, the sense that the region could not afford another cycle of lofty communiqués without tangible follow-through.

A Call to Performance, Not Party Politics

Elder statesman and Afenifere leader, Pa Reuben Fasoranti delivered perhaps the most pointed message of the summit. Represented by former Senator Femi Okurounmu, Fasoranti warned that the Southwest’s political elite had become too engrossed in “party colour competitions” at the expense of regional unity and governance impact.

“Our ministers must never forget that they are not just cabinet officials; they are voices of a people whose aspirations must be fiercely defended. Stop competing over party labels. Start competing over who has built more schools, created more jobs, and provided better healthcare. That is the politics that serves our people,” he admonished.

It was a moral challenge that resonated across party lines. Governors, lawmakers, and federal appointees nodded in agreement, many aware

of how deeply political fragmentation has weakened the Yoruba front in national decisionmaking.

Lagos State Governor and chairman of the Southwest Governors’ Forum, Babajide Sanwo-Olu echoed Fasoranti’s sentiments, warning that the region could not afford the luxury of disunity. “The Southwest cannot afford fragmentation. We must build a shared vision that uplifts all our states. Our strength lies in collaboration, not competition.”

A Cry from Osun

Amid the optimism, a dissenting note reverberated from Osun State Governor, Ademola Adeleke, who used the platform to accuse the Federal Government of partisan marginalisation.

Represented by the state Deputy Governor, Kola Adewusi, Adeleke alleged that Osun had been “deliberately deprived” of federal support because it was governed by an opposition party. “There is an ongoing wilful breach of the constitution to deprive a sub-national entity of its due rights simply because it does not belong to the same party with the ruling party at the centre,” he said.

His remarks drew murmurs across the hall — some saw it as a bold reminder of the dangers of centralised power, others as political posturing. Either way, it underscored the deeper tension between the ideals of federalism and the reality of Nigeria’s political culture.

Ministers Defend Tinubu’s Reform Blueprint

Cabinet ministers present seized the opportunity to defend the administration’s record and outline progress in their sectors.

Finance Minister and Coordinating Minister

As a son of the region and former lagos State governor credited with pioneering fiscal innovation and governance reform, expectations are understandably high. Yet, as several speakers observed, the success of Tinubu’s reform agenda depends not just on Abuja’s policies but on how governors, lawmakers, and citizens in the Southwest complement them with creativity and discipline.

of the Economy, Wale Edun described Nigeria’s economy as being “on the path of growth and prosperity,” citing improved fiscal discipline, reforms in credit access, and social intervention schemes such as CREDICORP and NELFUND.

On his part, Power Minister, Adebayo Adelabu hailed the Electricity Act Amendment Bill 2024 as a “tectonic shift” that decentralised power generation and distribution, noting that the sector had generated over ₦2 trillion between 2023 and 2025, with revenue collections up by 70 percent.

Also speaking, Minister of Marine and Blue Economy, Adegboyega Oyetola, announced that Nigeria’s waters had recorded zero piracy incidents in two years — saving billions in insurance premiums for Nigeria-bound cargo. From the Presidency, Mrs. Olu Verheijen, Special Adviser to the President on Energy, highlighted $8 billion worth of new gas investments spreading across the Southwest. “Gas is not just for electricity. It is the raw material for fertilizers, methanol, and petrochemicals. These are the nutrients that make our farmlands more productive, our factories busier, and our exports more competitive,” she said.

When the Past Casts Its Shadow

Observers could not help recalling that similar promises were made at the 2017 DAWN Summit, where governors pledged to harmonise tax regimes, build a regional railway, and establish a Southwest Development Commission. Eight years later, many of those projects remain stuck in the pipeline of political changeovers and bureaucratic inertia.

That history lent a sobering undertone to this latest Akure gathering. Despite the speeches, the applause, and the photo sessions, many participants privately wondered: will this summit truly mark a turning point, or will it join the long list of well-intentioned but forgotten meetings?

Former Osun State Governor and APC chieftain, Chief Bisi Akande, acknowledged this unease when he said: “We are at a turning point. Tinubu’s reforms are rebuilding Nigeria’s foundation, but we must match policy with implementation. Decentralisation will allow states to explore their economic potential and reduce overdependence on the centre.”

NOTE:

InfraCredit, MOBILIST Deepen Infrastructure Capital Markets with Shares Sales to PFAs

Kayode Tokede

InfraCredit and MOBILIST, the UK Government’s flagship public markets programme, have successfully sold InfraCredit’s shares to Nigerian Pension Fund Administrators (PFAs).

This, they stated in a statement, aligns with their determination at mobilising new domestic institutional investors into Nigeria’s infrastructure equity market.

The transaction, the statement said, marks a landmark development in Nigeria’s infrastructure investment landscape, underscoring the strength of InfraCredit’s governance and the growing confidence of domestic institutional investors in long-term infrastructure equity.

MOBILIST’s investment in April 2025 supported InfraCredit’s N27 billion ($17.7 million) equity raise and listing by introduction on the NASD OTC Securities Exchange, marking its transition to a Public Limited Company (Plc) and expanding its domestic institutional investor base. This secondary share sale extends

that developmental impact by introducing five domestic institutional investors, four of whom did not participate in the initial listing.

British Deputy High Commissioner (Lagos), Mr Jonny Baxter, said: “The UK consistently prioritises transformational investments that unlock commercial markets. InfraCredit is one such example, an indigenous guarantee platform which is now attracting Nigerian institutional investors. To date, InfraCredit has facilitated over N300 billion in financing, valued at more than $500 million equivalent indexed at issuance, in support of infrastructure development across Nigeria. We’re excited to see this momentum continue to grow, driven increasingly by domestic capital and delivering strong returns to Nigerian investors. A win-win where more infrastructure is built to support Nigerian businesses, and more value returned to Nigerian stakeholders.”

Commenting on the transaction, CEO of InfraCredit, Mr Chinua

Azubike, stated: This secondary transaction is a proud milestone for InfraCredit and for Nigeria’s financial markets. It reinforces our long-term ownership vision that catalytic foreign investment can pave the way for sustained domestic institutional participation at scale. We are delighted to welcome four new Nigerian pension funds to our ownership base, a reflection of deepened market confidence and the growing role of local investors in financing Nigeria’s sustainable future.

MOBILIST Programme

Lead within FCDO, Mr Ross Ferguson said: “MOBILIST’s investment in InfraCredit proved the potential of using public markets to mobilise private – and importantly – local investment in sectors driving sustainable development and growth. The programme’s exit only reinforces this potential and highlights how innovative development finance can generate impact beyond an initial investment by contributing to the creation of deeper, more liquid capital markets while recycling capital for future investments.”

Aderogba Commends Oramah for Transformative Leadership

The President and Chief Executive Officer of the Regional Maritime Development Bank (RMDB), Mr. ‘Niran Aderogba, has commended Professor Benedict Okechukwu Oramah for his exemplary leadership and far-reaching contributions to Africa’s trade and economic development during his tenure as President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank) from 2015 to 2025.

Aderogba gave the commendation recently while speaking with journalists on the sidelines of a send-off dinner held in honour of Professor Oramah in Cairo, Egypt, lauding him as a “visionary builder, bridge-maker, and catalyst for Africa’s economic renaissance.”

“Professor Oramah’s decade at the helm of Afreximbank has been nothing short of transformative,” Aderogba stated. “He has not only strengthened Africa’s trade

financing architecture but also inspired a generation of African institutions to think boldly, collaborate deeply, and act strategically for the continent’s prosperity.”

He said Afreximbank, whose first financing deal in Nigeria was valued at $10 million, now undertakes transactions running into billions of dollars — a remarkable milestone that underscores the bank’s growing impact in advancing economic development across the African continent

APM Terminals Empowers Apapa Youth with 51 Scholarships

Nigeria’s largest container terminal operator, APM Terminals Apapa, has awarded scholarships to 51 students from its host communities in Apapa Local Government Area, Lagos, in a renewed drive to promote education and youth development.

Speaking at the scholarship awards ceremony held in Apapa on Friday, the Chief Executive Officer of APM Terminals Nigeria, Frederik Klinke, reaffirmed the company’s commitment to investing in the future of its host communities. He said APM Terminals believes that true corporate success lies not only in business performance but also in giving back to society.

“While our day-to-day business is servicing importers and exporters through the Apapa terminal, we, as an integral part of our values, also want to support growing Nigeria’s future by investing

in its youth,” Klinke said.

Also addressing the gathering, the Terminal Manager, Steen Knudsen, congratulated the beneficiaries, noting that the scholarship programme goes beyond financial assistance. He revealed that some recipients would have the chance to undertake internships at the terminal, gaining practical experience to complement their academic work.

The Employee Relations Manager, APM Terminals Apapa, Benedict Nwangwu, explained that the current awards represent the second batch of the scholarship scheme. He disclosed that over a hundred applicants were screened before the final list of beneficiaries was selected and added that the company also extended the scholarships to five of its employees as part of its commitment to continuous learning and staff development.

“APM Terminals Apapa has over 100 students currently on its scholarship scheme across public institutions in Nigeria, this goes to show our commitment towards youth development and empowerment through education and skill acquisition,” Nwangwu said.

Representing the Chairman of Apapa Local Government, the Vice Chairman, Ismael Ganiyu, commended APM Terminals for what he described as a “significant investment in the future of Apapa youth.”

The representative of the Port Manager, Lagos Port Complex, Florence Onweagba, and the Deputy Comptroller of Customs (Enforcement), Apapa Area Command, Babayaya Mohammed, who represented the Controller, both commended APM Terminals for its sustained community engagement and impact.

Sterling HoldCo Reinforces Strong Earnings Momentum with 127% Profit Growth

Kayode Tokede

Sterling Financial Holdings Company Plc has announced its unaudited financial results for the nine-month-period ended September 30, 2025, posting an impressive 127 per cent year-on-year growth in profit after tax to N62.3 billion.

The performance is testament to the Group’s robust earnings

capacity, operational efficiency, and disciplined execution.

The group’s gross earnings rose by 44.1% to N341.7 billion (September 2024: N237.2 billion), driven by solid performances in both interest and non-interest income lines. Interest income grew by 38.7% to N262.4 billion, supported by an expanded earning asset base, while noninterest income surged by 65.1 per cent to N79.2 billion, reflecting

the group’s continued success in diversifying its revenue streams.

Sterling HoldCo maintained a healthy balance sheet, with total assets rising by 15.5 per cent from N3.54 trillion in December 2024 to N4.09 trillion in September 2025, driven by growth in loans, investment securities, and liquid assets. Customer deposits also grew by 14.3 per cent to N2.88 trillion, while shareholders’

funds increased by 32.9 per cent to N405.5 billion, up from N305.2 billion in December 2024, highlighting the Group’s solid capital base and its capacity to sustain future expansion.

Commenting on the results, Group Chief Executive, Sterling Financial Holdings Company Plc, Yemi Odubiyi, said: “Our performance over the first nine months of 2025 demonstrates the strength and adaptability

of our Group structure. The significant growth in profit after tax underscores the success of our strategy to operate as a diversified financial services Group delivering value through both our conventional, non-interest banking, and asset management subsidiaries.

“Our results highlight disciplined risk management, innovative product delivery, and an unrelenting focus on sectors

that drive real economic impact. We are equally grateful to our shareholders and the investing public for their confidence in the group, as reflected in the resounding success of our recently concluded public offer of 12.58 billion ordinary shares. As we continue to invest in technology and operational excellence, our goal remains clear: to build a resilient institution that consistently delivers sustainable returns.

Email chiemelie.ezeobi@thisdaylive.com,

Litmus Test for the CDS, New Service Chiefs

When President Bola Ahmed Tinubu decorated the newly appointed Service Chiefs at the Presidential Villa, Abuja, it was more than a ceremonial change of command, but a clear and uncompromising charge to defend the nation, restore citizens’ confidence in the Armed Forces, and deliver tangible results in the fight against insecurity. From General Olufemi Oluyede as Chief of Defence Staff to Lieutenant General Waidi Shaibu as Chief of Army Staff; Vice Admiral Idi Abbas as Chief of Naval Staff; and Air Marshal Sunday Kevin Aneke as Chief of Air Staff, as well as Lieutenant General Emmanuel Undiandeye as Chief of Defence Intelligence, Chiemelie Ezeobi writes that this new military leadership faces a defining litmus test that would challenge their strategy, unity, and resolve in an era of complex security challenges

Nigeria’s security challenges are as diverse as they are complex.

From the insurgency in the North-East, banditry in the North-West, and farmer–herder conflicts in the Middle Belt, to separatist agitations and oil theft in the South, every day, the Armed Forces face a multidimensional battlefield.

Even beyond kinetic operations, they also confront the deeper issues of intelligence coordination, troop morale, and inter-agency synergy, which was why President Bola Ahmed Tinubu’s decision to appoint new Service Chiefs marked a major shake-up in Nigeria’s military leadership, signalling a renewed drive to address the nation’s persistent security challenges.

Thus, the president approved the retirement of the former Chief of Defence Staff, General Christopher Musa; Chief of Naval Staff, Vice Admiral Emmanuel Ogalla, and Chief of Air Staff, Air Marshal Hassan Abubakar, while he retained the Chief of Army Staff, Lieutenant General Olufemi Oluyede.

While Oluyede ascended to become the Chief of Defence Staff, Lieutenant General Waidi Shaibu was made Chief of Army Staff; Vice Admiral Idi Abbas as Chief of Naval Staff, and Air Marshal Sunday Kevin Aneke as Chief of Air Staff.

The President’s Charge

When President Bola Ahmed Tinubu decorated the newly appointed Service Chiefs at the Presidential Villa, Abuja, last Thursday, he gave them a clear, uncompromising charge: to justify the confidence reposed in them by restoring public confidence in the Armed Forces and safeguarding Nigeria’s territorial integrity.

President Tinubu called for total loyalty, courage, and commitment from the new Service Chiefs, promising government support but insisting on results in security, unity, and professionalism, just as he warned that security threats were evolving, citing the rise of new armed groups in the NorthCentral, North-West, and South, and urged the military to act decisively and proactively to stop them early.

He also charged the Service Chiefs to show patriotism, innovation, and courage, use technology effectively, and ensure the insecurity that began in 2009 is finally brought to an end.

GENERAL OLUFEMI OLUYEDE: Building a Stronger and United Defence Force

As Chief of Defence Staff, General Olufemi Oluyede stands at the apex of Nigeria’s military hierarchy with the critical mandate to harmonise the operations of the three Services and ensure jointness in planning and execution. His leadership marks a new phase in the Armed Forces’ evolution, one focused on intelligence, technology, and welfare reform.

At the handover ceremony in Abuja, the new CDS emphasised that intelligence gathering, information sharing, and joint operations will form the backbone of the recalibrated defence posture under his leadership, just as he vowed

to leverage research, capacity-building, and technology to enhance situational awareness, operational foresight, and early threat detection.

Equally, General Oluyede underscored that troop welfare remains central to operational effectiveness. He pledged to advocate improved housing, medical care, and training opportunities for personnel and their families.

LIEUTENANT GENERAL WAIDI

SHAIBU: Leading a More Professional, Combat-ready Army

For Lieutenant General Waidi Shaibu, the 25th Chief of Army Staff, the burden of expectation is immense. The Nigerian Army, the largest service, is the face of the nation’s counter-insurgency and peacekeeping efforts. Years of relentless engagements have stretched the force thin, and General Shaibu inherits a structure in need of reorganisation, fresh equipment, and renewed discipline.

His immediate priority will be consolidating gains in the North-East, where terrorist cells continue to regroup in remote enclaves, while also tackling banditry and kidnapping that have crippled rural communities in the North-West. He must sustain offensive momentum while protecting civilian populations at the same time.

But beyond combat, Nigerians expect the Army to improve its relationship with the people. Allegations of human rights abuses and strained civil–military relations have often tainted its image. General Shaibu’s approach to accountability, training, and public communication will determine whether he can truly restore the Army’s moral authority.

He is also expected to enhance collaboration with other security agencies and regional partners, recognising that insecurity in Nigeria often transcends borders. His success will depend on how effectively he transforms the Army into a more agile, intelligence-driven, and

community-conscious force.

So upon assumption of office, he did so with a firm resolve to confront terrorism, insurgency, and other security threats head-on, adding that the NA under his watch would respond decisively and effectively to all emerging threats.

The new Army Chief pledged to make the Nigerian Army more agile, professional, and combat-ready, vowing to build on the gains achieved under his predecessor, particularly in equipment procurement, infrastructure development, and troops’ welfare. He also committed to deepening the “soldier-first” philosophy introduced by General Oluyede, while entrenching professionalism, discipline, and closer synergy with other security agencies.

VICE ADMIRAL IDI ABBAS: Safeguarding Nigeria’s Maritime Domain, National Prosperity

The Nigerian Navy under Vice Admiral Idi Abbas faces a task that goes beyond military operations, but also tied to national economic survival. With billions lost annually to oil theft, illegal bunkering, and piracy, Admiral Abbas’ leadership must consolidate the gains achieved under Operation Delta Sanity and strengthen maritime domain awareness.

Nigeria’s blue economy is the new frontier of national growth, and securing it means more than patrolling the creeks; it requires strategic presence in the Gulf of Guinea, improved interagency collaboration and smarter use of technology such as satellite surveillance and unmanned vessels.

Admiral Abbas must also push forward naval modernisation, ensuring that newly acquired platforms and vessels are effectively deployed and maintained. Personnel training, discipline, and welfare must remain central to sustaining operational readiness. The success of his tenure will be measured not only in reduced maritime crime but in how

much confidence he restores in Nigeria’s maritime institutions.

So upon his appointment, he identified crude oil theft, sea robbery, illegal bunkering, Illegal, Unreported and Unregulated (IUU) fishing, and drug trafficking as major threats to Nigeria’s maritime security and economic stability.

To confront these challenges, Admiral Abbas outlined a strategic agenda anchored on strengthening maritime security, fleet renewal, and inter-agency cooperation, adding that “the maritime domain is the lifeline of our economy, and under my watch, the Nigerian Navy will remain a professional and accountable institution, fully committed to safeguarding it for national prosperity”

AIR MARSHAL SUNDAY KEVIN

ANEKE: Strengthening Nigeria’s Air Power

In an era of asymmetric warfare, the role of air power is decisive. Air Marshal Sunday Kevin Aneke, as Chief of Air Staff, carries the responsibility of maintaining air superiority while supporting joint operations across all theatres. The Nigerian Air Force (NAF) under his command must continue to modernise its fleet and improve precision strike capabilities.

Beyond hardware, the Air Chief must prioritise pilot training, aircraft maintenance, and the localisation of technical expertise to reduce dependence on foreign contractors. His leadership will also be tested in humanitarian and civil support operations, where the NAF has played key roles in medical outreach, disaster response, and evacuation missions.

Air Marshal Aneke is expected to strengthen intelligence, surveillance, and reconnaissance (ISR) capabilities, ensuring timely support for ground and maritime operations. In doing so, he will help turn the Air Force into not just a supporting arm but a strategic pillar of national defence, just as he underscored his determination to transform the NAF into a force defined by precision, innovation, and strategic agility.

POLITY

The DSS As Financial Watchdog Curtailing Multi-Billion Cyber Fraud in Nigeria

In an era where cybercriminals have turned technology into a weapon of deception, Nigeria’s Department of State Services (DSS) has stepped out of the shadows to become one of the most strategic defenders of the nation’s financial integrity. Through intelligence-led operations and deep collaboration with banks, the Service has been quietly curtailing multi-billion-naira financial fraud, particularly in Lagos and Abuja, the beating hearts of Nigeria’s banking system.

Traditionally viewed as a counter-espionage and internal-security agency, the DSS now plays an unexpected, yet crucial role as Nigeria’s financial watchdog, monitoring cryptocurrency channels, dark web chatter, purchase of foreign currency in the parallel market and high-risk digital wallets used by fraud syndicates to launder stolen funds.

Cyber-fraud, once perceived as a purely economic nuisance, has evolved into a nationalsecurity threat. The scale of the problem is staggering. Industry Data revealed that Nigerian banks lost about N17.67 billion in 2023, while cumulative losses rose to over N52 billion in 2024 — nearly triple the 2020 figure. Lagos, alone, accounted for roughly half of those losses.

Fraud schemes have become increasingly sophisticated, from phishing attacks and cloned banking apps to insider collusion and cryptocurrency-based laundering. For years, these crimes undermined investor confidence and put pressure on regulatory institutions. But the DSS’s growing intervention has begun to change the narrative.

The DSS: Guarding the Economy in Silence

Unlike the more visible Economic and Financial Crimes Commission (EFCC), the DSS focuses on prevention — relying on early-warning intelligence and cyber-forensics rather than media-driven arrests.

“Our work goes beyond investigations. We track suspicious transactions, follow the digital trails, and identify insider collusion before damage is done. That’s how you protect a nation’s economy from collapse”, a senior official of the service explained the agency’s evolving mission.

This quiet vigilance has enabled the Service to neutralise major cyber-fraud syndicates

and foil countless attempts at siphoning billions from the banking network.

In 2024, the DSS secured court orders to freeze 12 bank accounts linked to two Abujabased businessmen — Abubakar Sheu and Ibrahim Isyaku Mahuta — over allegations of advance-fee fraud and terrorism financing. The accounts, spread across Ecobank, FCMB, GTBank and Sterling Bank, held proceeds from fraudulent transactions worth hundreds of millions of naira.

Acting under the Terrorism Prevention and Prohibition Act 2022, the DSS treated the case not merely as economic sabotage but as a threat to national security.

That same year, DSS operatives in Lagos uncovered a complex scheme that diverted N1.426 billion from Fouani Nigeria Limited’s Access Bank account into multiple accounts across GTBank, Zenith, UBA, FCMB and Providus Bank.

Armed with intelligence and swift legal backing, the DSS obtained a post-no-debit order to freeze the accounts for 90 days, preventing the syndicate from moving the stolen funds offshore.

These two cases, though distinct, symbolise a broader pattern — the DSS is becoming a key barrier between fraud

syndicates and Nigeria’s financial lifelines.

However, the agency’s success stems largely from collaboration. It works closely with the Central Bank of Nigeria (CBN), the Nigeria Financial Intelligence Unit (NFIU), and the EFCC, sharing real-time intelligence and coordinating account freezes.

In the second quarter of 2024, when Nigerian banks reportedly lost N42.6 billion to fraud, the DSS was involved in over 30 joint investigations that helped trace and intercept suspicious flows of money through Lagos and Abuja accounts. The high-level investigations, which started late last year (2024) and still ongoing, highlights how financial fraud can intersect with wider destabilisation agendas.

Beyond investigations, the DSS has also deepened its collaboration with the banking community through regular security briefings, capacity-building workshops, and real-time intelligence sharing. The impact of these efforts is becoming evident. Several banks in Lagos and Abuja now report fewer cases of large-scale online breaches.

While the battle against financial fraud is not over, with the DSS maintaining its vigilance as the nation’s watchdog, Nigeria’s banking system is

undoubtedly safer and more resilient than it was a decade ago. From freezing billions in suspicious transactions to unmasking insider collusion and intercepting cross-border laundering attempts, DSS has not only shown that the future of economic security depends on vigilance, innovation, and intelligence, but has proven to be a formidable force in safeguarding Nigeria’s financial stability.

“The DSS doesn’t need headlines. Its strength lies in invisibility. By quietly tracing digital footprints and freezing funds, it’s saving Nigeria billions — often before the public even hears of an attack”, a security analyst affirmed.

The DSS may not seek the spotlight, but its watchful eyes continue to shield Nigeria’s economy from the shadows of cybercrime. It is a silent war being waged daily — unseen, uncelebrated, but indispensable.

Kudos to the DSS Director General, Adeola Oluwatosin Ajayi and Lagos State command of the agency for their remarkable work and resilience.

*Felix Ifijeh, a journalist, writes from the Niger Delta.

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Ekpo Expresses FG's Commitment to Advancing Brass Gas Projects as Partners Pledge Timely Execution

Peter Uzoho

Minister of State Petroleum Resources (Gas), Dr. Ekperikpe Ekpo, has reaffirmed the federal government’s commitment to advancing the Brass Gas Projects as part of efforts to industrialise Nigeria through gas utilisation.

Speaking at a two-day AllParty Stakeholders Workshop on the Brass Projects, in Abuja, Ekpo said the Brass Methanol Plant, Gas Processing Plant, and the Brass Free Zone Infrastructure will collectively form the nucleus of the proposed Brass Oil and Gas City in Bayelsa State.

“The Ministry of Petroleum Resources (Gas) remains fully committed to supporting the Brass Projects through

policy facilitation, regulatory coordination, and stakeholder engagement,” Ekpo said.

“We are particularly focused on ensuring that frameworks such as gas supply and offtake agreements, licensing, and infrastructure integration are streamlined and bankable," he added.

He tasked participants to focus on actionable outcomes, defining clear responsibilities, closing gaps, and producing a roadmap towards achieving financial close and project take-off.

Ekpo stressed that the successful realisation of the Brass Projects would not only advance Nigeria’s gas industrialisation agenda but also deliver tangible benefits to the Niger Delta through

ECOWAS Court to Implement Roadmap for Improved Efficiency, Effectiveness of Regional Court

President of the ECOWAS Court of Justice, Hon. Justice Ricardo Cláudio Monteiro Gonçalves, has pledged to implement the recommendations of the five-day Judicial Retreat of the Court that ended on 31 October 2025 in Niger State, Nigeria

In his closing remarks, the President reaffirmed the readiness of the Court’s leadership to ensure the implementation of the outcomes in line with its strategic framework and timelines. He urged the staff members to be diligent in performing their duties and responsibilities and in supporting the honourable judges in the discharge of their judicial functions.

During the retreat, presentations and discussions focused on six critical areas namely: annual performance report from October 2024

to October 2025, expedited procedures and provisional measures, comparative analysis of practices before other international and regional courts, applicability of procedural laws and the roles of the President, Judge Rapporteur, and Chief Registrar, review of previous retreat recommendations and their implementation, and presentation of the Manual of Disciplinary Procedure.

Outcomes from the retreat included enhanced understanding of international and regional court practices, clarification of applicable procedural laws and institutional roles, adoption of the Manual of Disciplinary Procedure, and resolutions addressing interdepartmental collaboration, stakeholder engagement and external relations, Electronic Case Management System (ECMS), language services optimisation, among others.

job creation, infrastructure development, and community empowerment. He commended the synergy among key partners - Brass Fertiliser and Petrochemical Company Limited, Nigerian National Petroleum Company Limited (NNPC), Renaissance Joint Venture, Afreximbank, and other financiers - for their sustained collaboration toward bringing the project to fruition.

Significantly, all key stakeholders - including

NNPC Ltd., Renaissance JV, Bayelsa State Government, Host Communities, Trafigura (the product offtaker), and the EPC contractor, China Road and Bridge Corporation (CRBC) - reiterated their unwavering support for the Brass Gas Projects, pledging to work collaboratively towards achieving financial close and timely project execution.

Commissioner for Trade, Industry and Investment, Bayelsa State, Dr. Ebieri

Jones, who represented Governor Douye Diri at the event, reaffirmed the state government’s commitment to providing a peaceful and investor-friendly environment for the successful execution of the Brass Projects.

He stated that the government’s support for the initiative was anchored on the projects’ vast potential to create employment opportunities for citizens and to stimulate broad

socio-economic growth and development across the state.

In his remarks, Managing Director of Brass Fertiliser and Petrochemical Company Ltd., Chief Ben Okoye, commended the federal government for its renewed drive. Okoye said the Brass Methanol and Gas Processing Plants will generate thousands of direct and indirect jobs, foster technology transfer, and stimulate ancillary industries across the Niger Delta.

Abidjan-based Effi & Associés Joins ALPi Amid Expansion to Francophone West Africa

Emmanuel Addeh in Abuja

Effi & Associés, a leading business law firm based in Abidjan, has officially become the tenth member firm of Africa Law Practice International (ALPi), the fast-growing PanAfrican legal and professional services network.

The on-boarding ceremony took place at the offices of Effi & Associés in Abidjan and marked a major milestone in ALPi’s strategic expansion into Africa, generally, and Francophone West Africa, in particular, a statement by AlPi said.

With this addition, ALPi said it now operates in Nigeria, Ghana, Kenya, Tanzania, Uganda, Rwanda, South Sudan, Namibia, Mauritius and Côte d’Ivoire, making it one of Africa’s most geographically diverse and AfCFTA-focused law networks.

Welcoming the firm into the ALPi network, Mr. Olasupo Shasore (SAN), Senior Partner of ALP Nigeria, said that the step advances the firm’s commitment to building a truly Pan-African legal services platform.

“Getting one of the most

highly regarded lawyers in Francophone Africa, Serge Effi, and his firm, Effi & Associès to join the ALPi Practice Group is fantastic news for us and for our clients, including those across the 10 African Union (AU) member states where we now operate.

“Serge’s cross-border experience and the bilingual strength of Effi & Associés deepen our capacity to serve clients in both civil and common law systems. This step advances our commitment to building a truly Pan-African legal services platform designed for the AfCFTA era, and for truly opening up African business,” he stated.

Adding his voice, Gabby Asare Otchere-Darko, Senior Partner of Africa Legal Associates (ALP Ghana) stated that there has been a deliberate effort to ensure that ALPi has a presence across the continent since Africa is increasingly becoming a single market.

“Africa is becoming increasingly a single market, where we see our clients, from multinationals to SMEs, expanding across borders.

That’s why we are deliberate about ensuring that ALPi has a presence across the continent for our clients and potential partners both within Africa and globally.

“Having Effi & Associés as part of the family perfectly aligns with our vision to build a one-stop, high-quality advisory firm for clients seeking to do or expand their business in Africa,”

Otchere-Darko noted.

In his response, Dr. Serge Effi, Managing Partner of Effi & Associés, expressed enthusiasm about joining the network.

He said: “We are very happy to be part of this PanAfrican-focused law family. This partnership is greatly welcomed by our clients, and it enhances our ability to offer seamless legal services across both civil law and common law jurisdictions. This is exactly where Africa is going, which is toward deeper integration and cooperation among its professionals and markets. We are excited to represent ALPi in Côte d’Ivoire.”

Besides, Uyi Giwa-Osagie, Partner at ALP Nigeria, welcomed the new member, noting that Effi & Associés’

entry would further strengthen business and trade relations between Nigeria and Côte d’Ivoire, two of West Africa’s fastest-growing economies. Founded and led by Serge Effi, Effi & Associés is a top-tier corporate and tax law firm based in Abidjan-Plateau, Côte d’Ivoire. The firm provides legal and advisory services in business law, taxation, mergers & acquisitions, project finance, employment law, and commercial litigation. Its clientele includes both local and multinational companies operating across diverse sectors, including energy, banking, construction, telecommunications, and logistics.

On the other hand, ALPi is a Pan-African grouping of independent law firms and professional services providers founded on a shared commitment to Africa’s integration under the African Continental Free Trade Area (AfCFTA). It brings together elite firms that combine legal, policy, tax, and strategic advisory capabilities under one collaborative structure.

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L–R:

SERAP Sues Akpabio, Abbas over

‘Failure to Probe

Alleged N3m Bribe-to-Sponsor-Bills, Motion

A civil society advocacy group, Socio-Economic Rights and Accountability Project (SERAP), has filed a lawsuit against the Senate President, Mr. Godswill Akpabio and Speaker of House of Representatives, Mr. Tajudeen Abbas, over “the failure to probe the allegations that lawmakers pay up to N3 million to sponsor or present bills, motions, and petitions at the National Assembly.”

Mr. Akpabio and Mr. Abbas are sued for themselves and on behalf of all members of the National Assembly.

SERAP’s suit followed the recent allegations by

Ibrahim Auro, a member of the House of Representatives (APC, Jigawa), in a viral video recorded in Hausa that members of the National Assembly pay between N1 million and N3 million each to sponsor or present bills, motions, and petitions at the National Assembly.

In the suit number FHC/L/ CS/2214/2025 filed last week at the Federal High Court, Abuja, SERAP is seeking: “an order of mandamus to direct and compel Mr. Akpabio and Mr. Abbas to refer to appropriate anticorruption agencies for investigation and prosecution the allegations of ‘N3m Bribe-for-Bills’ at the

National Assembly.”

SERAP is seeking: “an order of mandamus to direct and compel Mr. Akpabio and Mr. Abbas to take all necessary measures to protect the whistleblower, Hon. Ibrahim Auyo, who made the allegations of ‘N3m Bribe-for-Bills’ at the National Assembly.”

In the suit, SERAP is arguing that, “The allegations of ‘N3m Bribe-for-Bills’ at the National Assembly are a grave violation of the public trust and constitutional oath of office by lawmakers.”

SERAP is arguing that, “Lawmakers should not have to pay bribes to present

motions and bills at the National Assembly. Bribery should never have any influence in the exercise of legislative duties or running of the National Assembly.”

SERAP is also arguing that, “these allegations of quid pro quo for lawmaking have seriously undermined Nigerians’ democratic rights.”

According to SERAP, “The allegations that lawmakers are paying up to N3 million as bribes in exchange for presenting motions and bills make a mockery of lawmaking and legislative powers under section 4 of the Nigerian Constitution 1999 [as amended].”

NDLEA Busts Clandestine Colorado Lab in Lagos, Arrests Music Artist; Steady Boy for Drug Related Offence

Operatives of the National Drug Law Enforcement Agency (NDLEA) have uncovered a clandestine laboratory where Colorado, a synthetic strain of cannabis, is being produced in a residential building.

The spokesman of the antinarcotics agency, Femi Babafemi, in a statement on Sunday, said the laboratory was located at Ajao Estate, Isolo, Lagos State.

Babafemi said during the

clampdown, large quantities of freshly cooked Colos and various precursor chemicals for drug production were recovered, adding that the 30-year-old lab owner, Kelechi Imoh, was arrested.

He stated that the discovery followed months of intelligence gathering on possible Colos laboratories in Lagos after NDLEA officers intercepted consignments of freshly produced Colos in March and May 2025 in the state, a development that suggested that the dangerous psychoactive

substance, which was hitherto imported into the country, was now locally produced.

Babafemi said the effort paid off last Thursday when NDLEA officers raided the residential apartment in Ajao Estate, which Imoh converted to a laboratory for cooking Colos, a strain of cannabis produced with the psychoactive plant and various chemicals.

Items recovered from the apartment included freshly cooked Colos weighing 16.2 kilogrammes; ADB-

CHMNACA Cannabinol -1.7 kilogrammes; Potassium Carbonate - 4.5 kilogrammes; and Dibromobutane - 91 litres.

Babafemi said in another operation in Lagos, NDLEA operatives on Saturday raided the enclave of a 28-year-old drug dealer Afeez Salisu (alias Malu) in Mushin, where 16 compressed blocks of Ghana Loud, a strain of cannabis, as well as designer sachets and bottles of Colorado weighing 16.4 kilogrammes were recovered from him.

Life Theological Seminary Marks 70 Years of Transforming Lives, Shaping Ministries

Mary Nnah

Life Theological Seminary, Ikorodu, has commemorated 70 years of training men and women for effective ministry.

The anniversary celebration, themed "70 Years of Training Men and Women for Effective Ministry," features a series of events, including a Thanksgiving Service, the conferment of Honorary Doctoral Awards, and the launch of a Festschrift in honor of the outgoing Provost, Professor Cletus C. Orgu.

SERAP is also arguing that, “The allegations also amount to fundamental breaches of the Nigerian Constitution and the country’s anticorruption legislation and international obligations including under the UN Convention against Corruption to which Nigeria is a state party.”

The suit filed on behalf of SERAP by its lawyers, Kolawole Oluwadare, Kehinde Oyewumi, and Andrew Nwankwo, read in part: “These allegations have exposed how lawmakers are abusing their entrusted positions to deny Nigerians of their constitutional

and democratic rights.

“Directing and compelling Mr. Akpabio and Mr. Abbas to ensure the proper investigation of the alleged ‘N3m Bribe-forBills’ at the National Assembly would build trust in democratic institutions and strengthen the rule of law.”

The National Assembly ought to be a proper and accountable legislative body and watchdog that represents and protects the public interest, and is able to ensure accountability in cases of corruption including the alleged ‘N3m Bribe-forBills.”

ASR Africa Inaugurates N350m Lecture Theatre at Adamawa State University

Daji Sani in Yola

The Abdul Samad Africa Initiative (ASR Africa) has officially commissioned a state-of-the-art 500-seat capacity lecture theatre at the Adamawa State University, Mubi, Adamawa State.

This significant project, valued at ₦350 million, was executed under the ASR Africa Tertiary Education Grant Scheme, aimed at providing sustainable and impactful educational infrastructure.

The lecture theatre is a major boost to the university's infrastructure, providing a conducive learning environment for students and lecturers.

Umaru Fintiri, alongside Prof. Babagana Umara Zulu, governor, Borno State and others thanked Abdul Samad Rabiu for supporting the state's educational efforts, describing the donation as commendable and worthy of emulation.

He said the project aligns with ASR Africa's broader vision of delivering sustainable, long-term impact in education. With over 30 institutions benefiting from the ASR Africa Tertiary Education Grant Scheme, the initiative is making a significant impact in the education sector.

According to the Provost, Rev. (Prof.) Cletus Orgu, the seminary's impact on the community has been significant, transforming lives and changing societies. "It's the fact of transforming lives or renewing lives, changing lives, and this life in turn changes their immediate environment," he said.

The seminary has emphasized theological education, equipping leaders to address pressing challenges facing the Christian community.

Equipped with modern amenities, the facility is set to enhance the academic experience of students and staff.

While commissioning the lecture theater in Mubi, governor of Adamawa State, Rt. Hon. Ahmadu

He said the commissioning of the lecture theatre marks a new era for Adamawa State University, and the university's management has promised to continue working towards academic excellent ASR Africa's support has been instrumental in enhancing the university's infrastructure, and this project is a testament to the initiative's commitment to education.

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DSS Empowers 7,774 Vulnerable Households Across Nigeria

Department of State Services (DSS) has commenced the disbursement of over N388 million under its empowerment initiative, targeting 7,774 of the most vulnerable households across the country. Investigation by THISDAY revealed that each beneficiary received a seed fund of N50,000.

A source within the agency disclosed the initiative formed

part of the service’s ongoing non-kinetic approach to national security management, aimed at addressing socioeconomic vulnerabilities that often fuelled insecurity.

Further findings revealed that the gesture by DirectorGeneral of DSS, Mr. Adeola Ajayi, was designed to complement ongoing efforts by the President Bola Tinubu administration and respective state governments to cushion the effect of ongoing economic

reforms.

According to another source, security heads, senior government officials, religious and traditional leaders, as well as respected community figures, were involved in identifying 10 of the most vulnerable households in each of the 774 local government areas nationwide.

The households were selected to benefit from the over N388 million empowerment initiative.

“Each beneficiary across the 36 states of the federation will receive N50,000 as part of measures by the Service to win the hearts and minds of the less privileged and give them a sense of belonging,” the source explained.

The gesture - the first of its kind - is estimated to cost N388,700,000.

In Oyo State, several beneficiaries expressed gratitude to the DSS directorgeneral for what they described

NDE: There are Insufficient Funds to Resettle 33,886 Trained Youths Nationwide

The National Directorate of Employment (NDE) has lamented the non-availability of funds with which to resettle more than 33,886 trainees of its various employment promotion initiatives across the country.

as a rare show of empathy and compassion.

One beneficiary, who identified himself simply as Pa Segun, said, “As a poor old man in my 80s, I never imagined that a day would come when the authorities would recognise my condition and bless me this way. Those who selected me were people I had never met, and they told me, ‘The Director-General of the DSS loves you and wants to support your family.’ I became emotional when I received the N50,000 - I thought I was dreaming.”

where our next meal would come from.”

Also moved to tears was a widow with six children, who described the intervention as a miracle: “See, my son, this thing that just happened is unbelievable. I did not know that any government or individual would remember a poor widow like me, who has suffered since the death of my husband.

“May God bless the DG for putting smiles on our faces. My children and I will keep praying for him because he gave us hope when we had none.”

It said that out of the over 33,886 Nigerians youths in various demand-driven skills in line with President Bola Ahmed Tinubu's Renewed Hope Agenda, the agency was only able to resettle 4,683 trainees.

(REP) and Special Pubic Works (SPW) Schemes.

Director General of NDE, Silas Ali Agara, stated this in a presentation at the recent 2nd Annual Conference of the Labour Correspondents' Association of Nigeria (LACAN) held in Abuja. According to Agara, NDE is implementing four core youth empowerment programme namely: Vocational Skills Development (VSD), Small Scale Enterprises (SSE), Rural Employment Promotion

The DG said that presently, about 41,307 youths are undergoing training in the second phase of the RHEl across the 36 states of the federation and the Federal Capital Territory (FCT).

He said: "The Directorate in line with President Bola Ahmed Tinubu's Renewed Hope Agenda trained over 33,886 Nigerians youths in various demand-driven skills and resettled 4,683 trainees

with loans and Starter-Packs to assist with business start-up capital and equipment/tools under the first phase of the RHEI between the 3rd and 4th quarters of 2024".

Agara said that, presently, about 41,307 youths are undergoing training in the 2nd phase of the RHEl across the 36 states of the federation and FCT.

He listed some of the skill development programmes being undertaken by NDE to include - Basic National Open

Foundation Leads National Campaign to End Fake Drugs, Counterfeit Alcohol in Nigeria

Sunday Ehigiator

In response to Nigeria’s worsening public health crisis, the Samuel Olutuyi Foundation (SOF) has launched a nationwide campaign to tackle the deadly spread of fake drugs and counterfeit alcoholic beverages, describing the menace as “a silent epidemic claiming lives across the country.”

Through its SOF Community

Health Programme, the Foundation is mobilising citizens, regulators, and policymakers to unite against the circulation of substandard medical and alcoholic products that have continued to devastate households nationwide.

Speaking through a statement yesterday, the Executive Director of the Foundation, Mr. Olajide Olutuyi, noted that: “Fake drugs and counterfeit beverages pose

a serious threat to our society.

Although medical intervention is not the Foundation’s core focus, we cannot look away when the health and lives of Nigerians are in danger. When the health of the people is at risk, we must act.

“According to the National Agency for Food and Drug Administration and Control (NAFDAC), an estimated 16 per cent of drugs in circulation in Nigeria are either fake or

substandard.

“Independent analysts, however, put the figure closer to 50 per cent in regions with weak enforcement. The United Nations Office on Drugs and Crime (UNODC) reports that about half a million people die every year in sub-Saharan Africa due to falsified or substandard medicines, many linked to fake antibiotics, malaria treatments, and painkillers.

Another beneficiary, a woman who spoke through her son, said:, “Help me thank the good man in Abuja who sent people to identify with us at a time we did not know

A source familiar with the service’s internal operations said the initiative reflected Ajayi’s soft approach to security management.

Experts Advocate Reimagining of ECOWAS, Integration of Women in Governance

Michael Olugbode in Abuja

Experts from the Economic Community of West African States (ECOWAS) have called for the reimagining of the regional body and inclusion of women in governance.

The experts who converged on Abuja at the weekend for a two-day Second Continental Edition of African Political Square and Expert Conference on Alternative Futures for ECOWAS @ 50, jointly organised with African Leadership Centre in Collaboration with Codesria and Wathi, argued that women and girls play vital roles in governance, peace, security, and economic development. They also advocated citizen-driven reforms of the ECOWAS.

The panelists highlighted

how females have made historical contributions in mobilizing for peace and informal economic activities across borders on the continent.

The key recommendations from the session included bridging policy-practice gaps, creating intergenerational spaces, and promoting transformational, ethical, and accountable leadership to dismantle rigid hierarchies, inspire cultural shifts, and ensure inclusive participation from community to regional levels.

Speakers noted persistent challenges rooted in patriarchal structures, cultural norms, and selective policy implementation, despite existing frameworks like ECOWAS Vision 2050 and national affirmative action laws in countries such as Sierra Leone, Senegal, and Ghana.

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Ex-President Jonathan: How Obama Plotted My 2015 Defeat

Declares ex-US president was biased

Former President Goodluck Jonathan has accused exUnited States President Barack Obama of plotting his defeat in 2015.

Jonathan described Obama as overbearing and “condescending” in his message to Nigerians ahead of the 2015 general election.

Jonathan, who railed against Obama’s conduct, said the former US leader displayed

an unusual level of bias during the 2015 elections, including issuing a video appeal to Nigerians, which advised them on the candidate to give their mandate.

According to Jonathan, “On March 23, 2015, President Obama himself took the unusual step of releasing a video message directly to Nigerians, all but telling them how to vote.”

Giving the details in his new book, “My Transition Hours,” due for launch on Tuesday, Jonathan said, “In that video, Obama urged Nigerians to open the ‘next chapter’ by their votes.

“Those who understood subliminal language deciphered that he was prodding the electorate to vote for the opposition to form a new government.”

According to Premium Times, which obtained a copy of the book hours before its unveiling in Abuja on Tuesday, Jonathan had kept the book secret in order to avoid excerpts of it being published ahead of its formal launch.

Jonathan lost the 2015 election to the late President Muhammadu Buhari, marking the first time an incumbent president would lose re-

N'Delta Youths Urged to Leverage Federal Employment Programmes

Worried by the seemingly low participation of the region in national employment programmes, the Niger Delta Progressives Alliance (NDPA) has launched a sensitization campaign to educate young people across the region on how to access federal government programmes and policies designed to improve their lives.

Increased participation, especially of youths, in national empowerment programmes will most certainly impact the security of communities positively, the group noted.

Speaking during a one-day sensitization forum held at the weekend in Asaba, with the theme, “Empirical Perspective on President Tinubu’s Offers in Two Years: A Strategic Engagement of Niger Deltans on Accessibility”, the

Convener of NDPA, Victor Udoh, said the initiative was driven by the realization that many people in the region were not benefiting from several federal employment interventions, not due to their deliberate exclusion but because they simply cannot access the right and timely information.

“For instance, in the 2024/2025 NELFUND student loan programme, 65 percent of beneficiaries are from the

North, while 35 percent are from the South - and most of that 35 percent are from the South-West,” Udoh explained.

“It’s not that our people were denied; they simply didn’t apply. Many don’t even believe these opportunities are real.”

He said the group was aiming to equip citizens with the knowledge to access government programmes directly, without middlemen and devoid of illegal charges.

Group Raises The Alarm over ‘Unhealthy’ Animals Breeding by Foreign Companies

Sunday Ehigiator

An Agro-focused group has raised alarm over the unhealthy breeding style of animals by foreign companies, with a focus on making profits and neglecting health hazards after consumption, saying the foods are life-threatening.

Speaking at a One-Day Media Training on Industrial Animal Farming reporting, organised by the Health of Mother Earth Foundation (HOMEF) and Environmental Rights Action (ERA), the Program Coordinator,

Environmental Rights Action/ Friends of the Earth, Nigeria, Mariann Bassey, lamented the style of breeding animals in a confined space rather than their natural habitat and administration of drug such as antibiotics to the animals.

“The issue of industrial farming is not just a Nigerian problem, but a global issue.

“We are discussing animals that are not in their natural habitat, as well as other concerns such as the use of antibiotics and their treatment methods.

“Consequently, we are

recipients of whatever has been administered to the animals because it ends up on our table.

“This is one of the reasons why we are calling on the government and other decision makers to please put in check international organisations in farming businesses, to be sure of their backgrounds and origins.

“We want to be sure we are eating healthy foods and not animals that have been administered all kinds because they want to make a profit, at the detriment of our health,” she said.

Speaking further, she urged the government to investigate the foreign companies by running a background check on them.

“The government should conduct an Environmental Impact Assessment (EIA) on these companies and also ensure they are building food relationships with the communities they have settled.

“They need to be aware of their development impact and, most importantly, how to manage their waste.

Nigerians come first and not the profit.

election.

He had assumed office in 2010 following the death of President Umaru Yar’Adua, getting his own mandate of four years at the 2011 presidential election.

The days leading to the 2015 election were crucial for both Jonathan and his cabinet officials. Only two weeks ahead, the election was postponed to March 28, from its initial date in February.

The six-week postponement drew outrage from within and outside the country, and Jonathan’s opponents accused him of plots to perpetuate himself in office.

But the former president said he was not the only one responsible for the polls shift.

He said other former leaders were part of the decision, which was informed by the security exigencies at the time.

“The message was so condescending, it was as if Nigerians did not know what to do and needed an Obama to direct them,” Jonathan said of the video message. He lampooned Obama, who was American president from 2009 to 2017, for saying “all Nigerians must be able to cast their votes without intimidation or fear”, but was reluctant to help the Nigerian security forces drive Boko Haram insurgents away from Nigerian territories they had been occupying in order to free citizens there ahead of elections.

TETFund: IMT Enugu Has Assessed Over N6bn in Infrastructure Fund

Gideon Arinze in Enugu

The Tertiary Education Trust Fund (TETFund) has said the Institute of Management and Technology (IMT), Enugu, has so far accessed N6.22bn out of the N7.24bn allocated to it for infrastructure projects so far.

TETFund Board of Trustees member representing the South-East, Esther Onyinyechukwu, made this known yesterday during the commissioning of five landmark infrastructural projects valued at N1.059bn at the institution.

In her address, Onyinye Chukwu said the successful completion of the projects was a demonstration of accountability and resilience on the part of the institution and further reaffirms TETFund's commitment to improve facilities in public tertiary institutions across the country.

“For us at TETFund, it is a testament to the resilience and determination of the institution’s management to ensure that the envisioned objective of the project is achieved, notwithstanding the numerous challenges encountered,” she said. She lauded the school for completing a learning environment and the acquisition of requisite skills by students while also praising the Enugu State Government for supporting the institution.

“TETFund will continue to assist beneficiary institutions to keep pace with technological advancements, particularly in digital learning and artificial intelligence,” she said.

Reacting, Rector of IMT, Professor Gozie Ogbodo, assured that the school was committed to preserving the newly commissioned structures.

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Anambra: Atiku, Obi Charge Amupitan on Free, Fair, Credible Governorship Election

Ex-VP rallies support for ADC candidate

Chuks Okocha in Abuja and David-Chyddy Eleke in Awka

Former Vice-President Atiku Abubakar and former Governor of Anambra State, Mr. Peter Obi, have asked the chairman of Independent National Electoral Commission (INEC), Professor Joash Amupitan, to ensure that next Saturday’s governorship election in Anambra State is free and transparent. In a statement, Atiku said regarding the poll, one in a number of off-cycle elections in the country’s election timetable, “But, rather than being like any

other, the election to elect the next governor of Anambra State on November 8 offers a unique opportunity to end the era of poor governance in the state in addition to ensuring that the ruling All Progressive Congress does not get the chance of practicing its notoriety of snatching and

running away with the mandate of the people.”

Atiku said, “The election next weekend calls our consciousness to a moment when we must rally round the candidate of the African Democratic Congress, Nwosu Chima John, and Nwobu Geoffrey Ndubisi, to lead Anambra State

to a new era of prosperity and economic stability.

“The election is also an opportunity for the electoral umpire under the leadership of Prof Joash Amupitan, SAN, to prove to the world that it has turned a new page, and that the integrity of our election would not

PRESIDENCY INTENSIFIES ENGAGEMENT WITH WASHINGTON OVER TRUMP'S MILITARY THREAT

Proactively

But the presidency yesterday said President Bola Tinubu was proactive ahead of the emerging diplomatic row from the United States' administration of President Donald Trump over alleged persecution of Christians in Nigeria.

This came hours after President Trump suggested that Nigeria might face direct military consequences under Washington’s renewed “focus” on the country, coming barely a day after designating Nigeria a Country of Particular Concern (CPC) following alleged persecution of Christians.

Reacting to the threat of possible American military action in Nigeria, presidential spokesperson, Onanuga, said the recent reorganisation in Nigeria's military structure by Tinubu and his instructions to the new service chiefs was an indication that he was well ahead of the American plots.

In a post on X via @ aonanuga1956, Onanuga said Tinubu demonstrated foresight and firmness during the decoration of newly confirmed service chiefs last Thursday, giving a clear directive that Nigeria would tolerate no new security threats or external attempts to undermine its sovereignty.

According to him: “President Bola Tinubu was well ahead of the orchestrated game unfolding in America as he told the new service chiefs on Thursday what Nigerians expect of them. No more excuses, he said. Nigerians want results."

He cited the president’s assertive charge to the military

leadership, delivered ahead of Trump’s latest comments, stressing that the administration would not permit insecurity to linger nor allow emerging threats to fester in strategic regions.

Tinubu had told the service chiefs: “Security threats are constantly evolving, constantly mutating. Of grave concern to our administration is the recent emergence of new armed groups in the North-Central, North-West, and parts of the South. We must not allow these new threats to fester. We must be decisive and proactive. Let us smash the new snakes right in the head.

“Nigerians expect results, not excuses… Let’s stay ahead of those who seek to threaten our peace. Let us deploy technology where necessary.

“We cannot allow the crisis that began in 2009 to persist any longer. I promise to provide all the support you need to get the job done,” the president charged.

The presidential media aide's remarks came amid intensifying diplomatic exchanges after Washington’s CPC designation — a move Abuja has criticised as inaccurate and politically motivated.

Trump’s later public remark implying readiness to “act with force if necessary” against “religious intolerance” abroad heightened tension, drawing sharp reactions from Nigerian officials and civil society, who insist the move was unjustified and intrusive.

The Tinubu government has repeatedly maintained that Nigeria guarantees religious freedom and is simultaneously tackling security threats across

regions without prejudice to any faith group.

Kwankwaso Seeks Diplomatic Engagement

Meanwhile, a former Governor of Kano State, Rabiu Kwankwaso, has called for diplomatic engagement with the US to address the rising tensions over Trump's recent remarks designating Nigeria as a “country of particular concern”.

The former presidential candidate of the New Nigeria Peoples Party (NNPP) wrote on X that the insecurity in Nigeria did not distinguish based on religious, ethnic, or political affiliation.

“I have noted with increasing concern the heightened pronouncements on Nigeria by President Donald Trump. This follows his designation of Nigeria as a ‘country of particular concern.’

“It is important to emphasise that our country is a sovereign nation whose people face different threats from outlaws across the country. The insecurity we face does not distinguish based on religion, ethnic or political beliefs," he said.

He also urged the US to shift from threats to constructive engagement, adding that technological and intelligence collaboration to tackle Nigeria's security challenges would be the best solutions.

His words: “The United States should assist the Nigerian authorities with better cuttingedge technology to tackle these problems, rather than posing a threat that could further polarise our country.

“The Nigerian government should also consider appointing special envoys from its distinguished diplomats to engage the American government. Additionally, it is necessary to appoint permanent ambassadors to represent Nigeria’s interests on the international stage.”

He, however, called on Nigerians to rise above political and religious divides in the face of external pressures.

“To my fellow countrymen, this is an important moment where we should emphasise unity of belonging over division,” he stated.

Coalition Condemns Trump's Threat

A group of Civil Society Organisations (CSOs) and Non-Governmental Organisations (NGOs) under the banner of Coalition for Good Governance (CGG) has condemned the threat by Trump to invade Nigeria over alleged killing of Christians in some parts of the country, saying the action was wrong and at variance with reality of the situation in Nigeria.

The group made its position known in a press statement by one of the convener, Nelson Ekujumi, who stated that: "As Nigerians, we are shocked, pained, insulted, abused and traumatised by the brazen, irresponsible, insensitive, provocative, reckless, bullish and condemnable designation and threat of invasion by President Donald Trump of the United States of America."

According to the coalition, for the education and information of

President Trump, "Nigeria and America share a long history of mutual friendship, cooperation and assistance which does not warrant the irresponsible, reckless, disrespectful, provocative talk down on and the threat of invasion by the American President."

The group emphasised that as at the last count from all available facts, Nigeria was an independent and sovereign nation and not a conquered territory of the US.

"We are at a loss to rationalise or explain where in the American constitution, President Trump derived the powers or authority to issue threat of invasion and designation of Nigeria on religious lines on the basis of our security challenges," the group stated.

The coalition admonished the American president to get his facts right on the security situation in the country which was being frontally tackled by the government and security agencies because the primary purpose of government was the security and welfare of its citizens.

It, therefore, urged him not to be misled to exhibit the character of crudity, barbarism and stone age despotism which his comment represents.

The coalition used the opportunity to call on Trump not to exacerbate Nigeria's security challenges of which every country in the world is having its own fair share, on the basis of religion "because all life matters."

The statement added: "What the Nigerian government and

be sacrificed for the satisfaction of the ruling party.”

The former vice president stressed, “It is, therefore, important that every registered voter in Anambra not only determines to vote, but must mobilise huge support for the candidate of the ADC.

people needs at this critical moment of its political and economic re-engineering for peace, progress and prosperity by the President Bola Tinubu administration, is for the American government and other progressive countries, institutions and partners, to provide it with needed assistance, support, encouragement, cooperation and collaboration to overcome its challenges which are surmountable.

The group charged the American establishment to avail Trump courses on civility, respect, responsibility of public office, sovereignty of nations, international diplomacy and democratic ethos, because of his penchant for conducts and comments unbefitting of the occupant of the White House.

Gumi:

Threat of Military Attack Disrespectful to Nigeria

Also yesterday, Islamic Cleric, Sheikh Ahmad Gumi, described the threat by the US president to deploy the country's military in Nigeria as disrespectful. In a post on his verified Facebook page, Gumi condemned Trump’s threat as an insult to Nigeria’s sovereignty and called for an immediate diplomatic response, stressing that Tinubu should take decisive action.

He advised the Nigerian government to summon the US ambassador to Nigeria and demand a retraction, warning that failure to do so should lead to severing of diplomatic ties with the country.

THREE-DAY

Barau Welcomes over 1,000 Kwankwasiyya Defectors to APC, Says NNPP Lost Steam

Sunday Aborisade in Abuja

Deputy President of Senate, Senator Jibrin Barau, yesterday, received more than 1,000 members of New Nigeria Peoples Party (NNPP) and Kwankwasiyya Movement into All Progressives Congress (APC), declaring that the opposition party has lost momentum in Kano State.

The event, according to a statement by his media aide, Ismail Mudashir, which took place in Kano metropolis, saw the defectors, under the banner of Kwankwasiyya One Blood, discard their symbolic red caps as they announced their defection to the ruling APC.

Leader of the group, Aminu Murtala Minjibir, said their movement to APC was inspired by the developmental strides of President Bola Tinubu and Senator Barau in Kano and across Nigeria.

Minjibir added that the group had now adopted a new name, Barau Maliya One Blood, in honour of the deputy senate president.

He lamented that NNPP had failed to meet the expectations of Kano people, despite the enormous goodwill it once enjoyed.

Minjibir said, “There are more than 1,000 in this hall today, and we have members spread across all the 44 local government areas of Kano State.

“This is a historic day in our lives as we officially join the train of success, the APC.

Senator Barau has been a shining light for the people of Kano, and we are proud to identify with him.”

In his remarks, Barau described the defection as a wise and timely decision, asserting that NNPP has become a “mushroom party” limited to a few pockets within the Kano metropolis.

He said, “We are here to welcome a group of hardworking men and women, who have decided to join our great party, the APC. You have made the right choice.

“The APC is not just the largest political party in

Nigeria, but the biggest in Africa. Our government is delivering on development and inclusivity. I see no reason for anyone to remain in a party that has lost its

direction.”

Barau also commended Tinubu for his consistent support for Kano, stating that the president has never turned down requests aimed

at improving the welfare of the people.

He stated, “President Bola Ahmed Tinubu has been doing a lot for the north and for Kano, in particular.

All he needs now is our support and prayers. With your commitment and our collective effort, we will continue to move this state and our country forward.”

London Unveiling: Asaba Massacre Film Documentary

The Asaba people of Delta State said the unveiling last week in London of a film documentary on the Asaba Massacre had sent a firm and unambiguous message to the global community on the monumental injustice of the Nigerian state regarding the shocking massacre of hundreds of Asaba people by federal troops on October 7, 1967 during the Nigerian civil war.

According to Chief Chuck Nduka-Eze, the Isama Ajie of Asaba, and executive producer of the film, the

Clear Message to the World

special documentary on the Asaba massacre was formally released on October 26 in London, in furtherance of a pledge by the peace-loving people of Asaba to counter the disturbing silence of the Nigerian government on the issue.

Nduka-Eze, a legal luminary, who was the official convener of the recent 58th anniversary celebration of the massacre, told THISDAY in Asaba that the epochal event was in line with the people's drive for justice in respect of the cold-blooded killing of the innocent citizens.

He said it was also to bring on the global space great lessons that could inspire the

international peace-process in the Middle East and other areas of inter-ethnic and interracial crises in the world.

The response of the Asaba people to the 1967 massacre had been stoic and reflective rather than bitter and confrontational, Nduka-Eze stated, saying the international community stand to learn a lot from the Asaba post-massacre experience.

Addressing thousands of Asaba sons and daughters at the 58th anniversary of the infamous Asaba Massacre, on October 7, the Asagba of Asaba, Obi Prof. Epiphany Azinge, indicated they would leave no stone unturned until the

desired justice for the victims of the meaningless bloodletting was served.

On behalf of his people, Azinge said a formal apology from the federal government, and a federal university established in Asaba were the least the Bola Tinubu administration could do in that regard.

The revered monarch said, “We must have a fitting memorial for these martyrs. We have told the president that we deserve and need an apology from the Nigerian government; and, we need a federal university established here in Asaba in their memory."

States Declare Readiness to Sign Bilateral Power Contracts with Gencos, Target 9000mw Stranded Electricity

Woo investors for modular-sized plants

In furtherance of their active participation in the Nigerian power sector as empowered by the Electricity Act 2023, the 36 states of the Nigerian Federation have indicated their readiness to sign bilateral power contracts with willing

generation companies (Gencos) in order to get more electricity supplied to the people at the state level.

The states are particularly targeting taking up the over 9000 megawatts of power that is currently stranded, out of the country's 13000mw generation capacity, due to inadequate

wheeling capacity by the Transmission Company of Nigeria (TCN). Speaking on behalf of the Conference of State Electricity Regulators during a panel session at the just-concluded Nigeria Energy Exhibition and Conference in Lagos, the Chairman of the Enugu

State Electricity Regulatory Commission (ESERC), Mr. Chijioke Okonkwo, added the states were ready to play active part across the value chains of the Nigerian power industry.

He indicated the willingness of the subnationals to pay the full cost of power delivered to

states by the Gencos, saying subsidy will be out of the equation as investors would be guaranteed full return on their investment.

Okonkwo pointed out that only about 4000mw out of the 13000mw of power generation capacity in the country is being utilised, leaving about

9000mw as stranded power. Like the Nigerian Electricity Regulatory Commission (NERC), he said the states such as Enugu were putting in place regulations to drive the growth of power development and supply as well as return on investment in the states.

Archbishop Martins: Nigeria’s Security Agencies Lax in Protecting Christians

Mary Nnah

The Archbishop of the Metropolitan See of Lagos, Most Rev. (Dr.) Alfred Adewale Martins, has slammed Nigeria’s security agencies for being “lax” in protecting Christians from attacks, saying their inaction has led to allegations of genocide.

Speaking at the 35th priestly ordination anniversary of Parish Priest of St. Leo Catholic Church, Ikeja, Very Rev. Fr. Anthony Fadairo, the archbishop expressed

concern over the rising number of Christians being killed and displaced in various parts of the country.

“I do not know whether we can talk about genocide or not, but what I know is that we have a situation in which people are being killed, people are being displaced from their homelands, and their homelands are being occupied by those who have no right to be there,” he said.

Martins noted that while not

Group Urges FG to Connect Ndokwa Nation to Electricity, Decries Neglect

Sunday Ehigiator

The Ndokwa Association in America (NAIA) has called on the Federal Government of Nigeria and the Delta State Government to immediately step down electricity from the Okpai Independent Power Plant (IPP) to supply power to all communities across Ndokwa land.

The call was contained in a communique issued after the association’s 2025 Biennial National Convention held in Bloomington, Minnesota, and signed by its principal officers, including President Mr. Enefazu Otuya, immediate past President, Mr. Chibuzor Uwadione,

and National Secretary, Professor Sunday Enubuzor, among others.

The association lamented what it described as the “continued neglect and marginalisation” of Ndokwa nation, which comprises Ndokwa West, Ndokwa East, and Ukwuani Local Government Areas of Delta State.

According to the communique, the region remains plagued by inadequate social amenities, including lack of electricity, poor infrastructure, underfunded schools, near-zero public healthcare institutions, bad roads, and widespread unemployment.

only Christians were affected, the fact that many of those being displaced were Christians had led to allegations of genocide.

“I will not describe what is happening as genocide, but I will describe it as the laxity of government agents and security

agencies to deal with the issue at hand,” he said.

The archbishop called on the government and security

Subsidy Savings Fueling Defections

Sunday Okobi

The Convener of Activate Nigeria for Good Governance (ANGG), Ken Agala, has faulted President Bola Ahmed Tinubu’s handling of fuel subsidy savings, alleging that the funds are being used as tools of political patronage rather than instruments of

economic relief for suffering Nigerians. Agala in statement issued and made available to journalists yesterday alleged that Tinubu’s approach has worsened poverty levels across the country, contrasting sharply with former President Goodluck Jonathan’s 2012 model, where savings from a partial subsidy removal were

agencies to disprove allegations of genocide and ensure that those responsible for the attacks are brought to justice.

to APC, Group Alleges

transparently managed under the Subsidy Reinvestment and Empowerment Programme (SURE-P) led by technocrat Christopher Kolade, who was laid to rest a few days ago.

According to him, “Under Jonathan, every naira saved from partial subsidy removal could be traced. Kolade

chaired the SURE-P with integrity, ensuring funds went into tangible projects that benefited Nigerians.

“Tinubu’s approach, however, has turned subsidy savings into a tool for political patronage, strengthening loyalty among governors rather than relieving citizens’ hardships.”

With New Capital, FCMB Promises Higher Shareholder Value

FCMB Group Plc, a leading financial services group, has said that its recent fundraising from the capital market will be directed towards enhancing returns for its shareholders.

With a focus on delivering stronger and more sustainable returns by 2027, the bank has reassured

investors that the inflow of new capital will not diminish returns but sustain the momentum of higher returns and valuation that keeps its stock in demand.

The group, on October 2, launched a new public share sale of N160 billion to bolster its banking arm, First City Monument Bank,

Police Vow Clampdown

Linus Aleke in abuja

Operatives of the Federal Capital Territory (FCT) Police Command have vowed to clamp down on criminal syndicates, kidnappers, and other outlaws disturbing the peace and tranquility of the territory.

To achieve this, the Commissioner of Police,

FG Launches Govt-Private Sector Dialogue Series

The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, has convened the first edition of the Government–Private Sector (GPS) Dialogue series, aimed at bridging the communication gap between government and enterprise, and to align national economic reforms with the realities of everyday business.

The maiden edition, themed, Finance and SME Growth Roundtable,” held

in Ikeja, Lagos, brought together captains of industry, federal agency heads, market leaders, and key Lagos State officials. It marked the beginning of a structured and continuous dialogue between policymakers and Nigeria’s private sector, starting with the vibrant trading and entrepreneurial community of South East origin domiciled in Lagos.

In her address, Dr. Uzoka-Anite reaffirmed

that the Renewed Hope administration is determined to make government more “present, responsive, and accountable.”

She emphasised that policy must not be written for the people, but with them, stressing that the GPS dialogue series is “a platform where the voices of entrepreneurs, innovators, and community leaders directly shape the priorities of governance.”

Lawmaker to Dole Out 400 Shops, Inaugurates Roads in Lagos

Ayodeji Ake

The member representing Epe Federal Constituency in the House of Representatives, Hon. Tasir Olawale Raji, has put in place mechanism for allocating about 400 shops to constituents free of charge this November.

This is coming just as he has concluded arrangements for the construction of four new roads within Epe Township.

The lawmaker in a statement said that the gesture forms part of efforts to ameliorate the sufferings

of the less privileged in the constituency.

Hon. Raji stated that the move forms part of his overall objective of ensuring peace and security in Epe and its environs as a means of further stimulating the continued economic development of the area. He disclosed this at the inauguration of the building named after a deceased Assistant Inspector General of Police, the late Alhaji Ganiyu Agbaje in Oke-Oyibo area of Epe township.

While maintaining that legislative representation

must translate into tangible impact on the people, Hon. Raji added that and over 20 community roads have also been completed across the constituency with four located in Kula Nla, Olooto, Komaadan, and Mafowosofo set for commissioning soon.

The federal lawmaker stated that over N90 million in grants has been distributed to empower over 1,100 market women and 1,280 cooperative members, while youths have been trained in vocational skills, food processing, and renewable energy.

in response to the Central Bank of Nigeria’s (CBN) fresh N500 billion minimum capital requirement for international banks. By optimising shareholder value and implementing effective risk management strategies, FCMB strives to mitigate exposure to macroeconomic shocks.

In addition to leveraging technology to reduce operating expenses and enhance profit margins, the bank plans to expand its operations across West Africa, where it believes the risks are lower and the returns higher. “There are opportunities in several West African countries.

on Criminal Syndicates, Kidnappers in FCT

FCT Command, Miller Dantawaye, has directed all tactical and surveillance teams under the State Criminal Investigation

Department (SCID), including operatives of the Police Mobile Force (PMF) and the Counter Terrorism Unit (CTU), to join forces

with the department of operations and all divisional police formations in an extensive cleanup operation across the FCT.

Email duro.ikhazuagbe@thisdaylive.com 08111813083 SMS Only

Mikel Praises Osimhen, Wants Eagles to Use Playoffs to Qualify for World Cup

Duro Ikhazuagbe

As Nigerians brace up for the African playoffs in Morocco in two weeks time for the ticket to play in the final Intercontinental series in Mexico next year, former Super Eagles Captain, John Mikel Obi, has singled out Victor Osimhen for praise.

In his latest The Obi OnePodcast, the former Chelsea defence stalwart insisted that without Osimhen’s hat trick, Nigerians will not be looking forward to another chance at qualifying for the 2026 FIFA World Cup after missing the Group C direct ticket to South Africa.

The Galatasaray striker was in his element on the Matchday 10 of the qualification series as he raised his game to bang in three goals in quick succession against Benin Republic who until that last match were in firm control at the top of Group C on 17 points.

Osimhen’s three goals plus the fourth by Frank Onyeka ensured that Nigeria moved to same 17 points as the Cheetahs and also leapfrogged both Uganda and Burkina Faso to emerge the fourth best runners up team of all the nine groups.

“Our (Nigeria) World Cup dream is still alive,” began Mikel Obi on his The Obi OnePodcast.

“I spoke about it before the last two games. I said whatever is happening, whatever is going on with the FA (NFF), all the negativity, all the corruption and everything that is going on, those two games were must-win matches, and we did that,” observed Mikel who led Super Eagles to win AFCON 2013 in South Africa.

He therefore praised Osimhen and the Super Eagles for giving Nigeria another chance at making it to the 2026 World Cup.

Urhobo College Plans Big for Zenith/Delta Principals’ Cup Final

Duro Ikhazuagbe

Urhobo College, Uvwie benefitted from a boardroom decision to earn a berth for the final of the Delta State Principals’ Cup and the team is working hard to grab the opportunity with both hands.

The final of the tournament sponsored by Zenith Bank Plc in collaboration with Delta State Government is scheduled to take place on Thursday November 6 at the Stephen Keshi Stadium, Asaba.

Originally, Urhobo College lost 3-0 to Otokutu Grammar School in the semifinal played at the Government College, Ughelli but after a strong protest by the Ovwie LG Champions against Otokutu

over the used of ineligible players, Urhobo College got the nod to play in the final.

The team led by Coach Fred Oteri is now fully set for the finals slated for Thursday.

Sources in Asaba hinted at the weekend that the team has been in camp at the Kenwood Hotels and Suits, Effurun, courtesy of an old boy of Urhobo College and philanthropist, Chief Idama Amurun, sponsor of the Sheriff Oborevwori U-17 Unity Cup.

“The team has been playing series of friendly games to put them in top shape. The team has also been getting full support from the old student association,” reveal the top source from the Delta State capital.

GOtv Boxing Night 34: Deaf Boxer Odi Vows to Silence ‘Smiling Assassin’

Segun “Odi” Gbobaniyi, a deaf boxer known for his explosive power and relentless fighting style, has vowed to demolish Tobiloba “Smiling Assassin” Ijomoni when they meet at GOtv Boxing Night 34 on 26 December at Tafawa Balewa Square, Lagos.

Speaking through an interpreter, Odi declared that Ijomoni’s nickname would not save him from a crushing defeat. “Let him smile now, because when the fight begins, my fists will do the talking,” he said.

Ijomoni, who won his last fight by knockout, dismissed Odi’s comments as bluster.

“He does not understand boxing. I will teach him what boxing is, and he will stop boasting after our fight,” Ijomoni said.

GOtv Boxing Night 34 will feature five bouts across different weight categories. In the lightweight division, Sodiq Suleimon will face Emmanuel Abimbola in an eight-round challenge bout. In the super bantamweight division, Ezekiel “Touch” Seun will go up against Toheeb Hassan in another challenge contest. An additional eight-round lightweight clash will see Saddam Oladipupo battle Imole Oloyede.

“Credit to the boys, they absolutely did that and of course, to the main man (Osimhen) that we’ve talked about so many times on this podcast,” Mikel remarked.

“He (Osimhen) was absolutely brilliant! Yes, it was against Benin. People can say he scored a hat-trick, but you still have to score this hat-trick; you still have to show up. It was our biggest game of the season.

“If we didn’t win that game, we wouldn’t be talking about trying to qualify for the World Cup now.

“Victor Osimhen has singlehandedly kept us alive. One of the biggest games, he’s come out and scored a hattrick. You can see the intensity,

Abia Warriors have leapfrogged Nasarawa to the top of the Nigerian Premier Football League (NPFL) on the back of a 2-1 defeat of Niger Tornadoes on Sunday evening.

The win moved the Abia State team to 21 points from 11 games, two points ahead of now second-placed Nasarawa United, who fell 1-0 at Rivers United though with a game

passion, and aggressiveness he shows.

“When the pressure is on, the big boys step up, and that’s exactly what he has done. He’s the big boy in that team right now, and we all needed him.

Mikel recalled the many matches that Osimhen didn’t play (due to injuries) and how Super Eagles struggled with poor results.

“The games that he didn’t play and the number of games that we won without him compared to the games we won with him in the team are incredible,” concludes Mikel who is looking forward to Nigeria grabbing the African ticket to the Intercontinental Playoffs in Mexico March next year.

in hand.

Ikorodu City and Warri Wolves are both tied on 18 points but Ikorodu are third based on better goals difference.

The Ikorodu Oga Boys picked maximum points against Kun Khalifa with 2-0 win while Warri Wolves drew 1-1 at neigbours Bendel Insurance.

Elsewhere, Kano Pillars

Unseeded Oyo State stunned the field to emerge champions at the 2nd Senator Abiru Mixed Team Table Tennis Championships, which concluded over the weekend at the Molade Okoya-Thomas Hall, Teslim Balogun Stadium, Lagos.

Led by the dynamic duo of Wasiu Azeez and Halima Hussein, Oyo defied the odds in a tournament featuring 30 teams from Nigeria, Togo, and the Benin Republic.

Despite being unseeded, Oyo and Bayelsa battled

their way to the final, outplaying top-seeded teams such as Lagos, Edo, and Kwara.

The final, witnessed by the tournament’s financier and sponsor, Senator Tokunbo Abiru, showcased thrilling rallies and dazzling skills that captivated spectators.

Oyo took an early lead by winning the mixed doubles, but Bayelsa’s Hope Udoaka leveled the score. Azeez then delivered a spirited comeback, overturning a 1-0 deficit to defeat Samuel Boboye 3-1.

who fell 2-0 at Enyimba, are rooted to the bottom of the table. The Aba Elephant are now sixth on the log with 16 points.

Defending champions Remo Stars, Barau FC and Bendel Insurance are in the drop zone.

Remo Stars, still reeling from being bundled out of the CAF Champions League by Mamelodi Sundowns of

South Africa, were upstaged 3-1 by Kwara United, while Barau FC were held to a scoreless draw at home against Wikki Tourist. There was also a home win for Bayelsa United over Plateau United in an early kick-off game as Katsina United and El Kanemi Warriors were held to draws by Shooting Stars and Enugu Rangers, respectively.

Imperious Sinner Wins in Paris to Regain Top Ranking

Jannik Sinner beat Felix Auger-Aliassime to win his first Paris Masters title and reclaim the world number one ranking from rival Carlos Alcaraz on Sunday evening.

Sinner’s 6-4 7-6 (7-4) victory over the Canadian extended his winning streak on indoor hard courts to 26 matches - a run that stretches back to the 2023 Davis Cup Finals.

Hussein, alongside her women’s doubles partner Khadijat Okanlawon, sealed the victory by defeating Udoaka and Iyanuoluwa Falana, securing a 3-1 triumph for Oyo.

In the third-place match, Kwara bounced back from their semifinal loss with a dominant 3-0 win over Lagos Team 2, clinching the bronze medal at the N5.5 million prize money event.

Senator Abiru, in his closing remarks, praised the athletes for their outstanding performances and reaffirmed

The win lifted the 24-year-old Italian 250 points above Alcaraz in the rankings before the season-ending ATP Finals begin on 9 November.

Sinner’s victory ensures the race for the yearend world number one ranking will go to the final tournament of the season - a fitting end to a year where his rivalry with Alcaraz has reached stratospheric heights.

his commitment to the championship’s growth.

“This tournament has once again shown that when we create the right environment for our youth, talent flourishes, friendships blossom, and excellence thrives. Throughout the championship, we witnessed an abundance of passion, skill, and sportsmanship. Our athletes from across Nigeria and other parts of Africa reminded us of the beauty of competition and the unity that sports can foster,” he said.

CONVOCATION CEREMONY...

L–R: Adamawa State Governor, Rt. Hon. Ahmadu Umaru Fintiri; Alhaji (Dr.) Muhammadu Indimi; and Borno State Governor, Prof. Babagana Umara Zulum, during the 15th, 16th, and 17th combined Convocation

Ceremony of Adamawa State University, Mubi, on Saturday

MAHMUDJEGA

VIEW FROM THE GALLERY

Scramble for Next Year's Pardon

Following the release of the final list of presidential pardons for 2025, a scramble akin to the late 19th century European Scramble for Africa immediately commenced in Nigeria. Family members, friends, busybody activists as well as politicians hoping to reap political benefits immediately began moves to ensure that their convicted relatives or friends make it into next year's presidential pardon roll. Next year’s pardon list will be much kinder than this year’s because it will come just before presidential elections, hence the early stampede to get into it.

I hear that a campaign has already started under Lagos’ flyover bridges to get a pardon for the cannibal Clifford Nwa Orji. Police arrested Orji in February 1999 after a missing woman, Awawu, was discovered near death at his home under the bridge. Fresh and cooked human body parts and skulls were also discovered. Orji was the indicted for serial killings, kidnappings and the sale of human body parts. He later confessed at a news conference to kidnapping, murder and cannibalism. He said he and his accomplice had “been eating human meat for the past seven years… It is our culture to eat human meat." He was remanded in Kirikiri Maximum Security Prison, was never tried in court because prison officials said he was mentally ill, and died in prison in 2012. His family is therefore scrambling to seek a post-humous pardon, since he was never tried in 13 years even though he had children to look after.

I hear that family members in Owerri have assembled a team of senior lawyers to prepare a petition seeking a post-humous pardon for Chief Vincent Duru, who was executed in 2016 for a murder committed 20 years earlier. In September 1996, ugly riots broke out in Owerri after a gardener at the Otokoto Hotel was caught with a human head. It turned out to be that of 11-year-old schoolboy Anthony Ikechukwu Okoronkwo, a groundnut hawker whom he lured into the hotel, drugged and decapitated him, then removed some body parts and was on his way to deliver it to leaders of the Black Scorpion secret society when a commercial motorcyclist saw blood dripping from the bag. The arrested man died two days later in police custody, which fueled rumours of a sinister plot.

Investigation and confessions led to the arrest of Otokoto Hotel owner Chief Vincent Duru, Chief Leonard Unaogu and seven others. After a long trial, they were sentenced to death in 2003 and were executed in 2016. The family is now demanding for pardon because Vincent Duru showed remorse during his 13 years on death row and was a model prisoner. He should therefore feature in the 2026 presidential pardon roll.

Another team of senior lawyers is very busy in Taraba State, preparing a petition to seek pardon for

Alhaji Hamisu Bala, alias Wadumen. Hamisu once told reporters that Wadumen means “What do you mean?” He was a kidnap kingpin in Taraba State who was accused of supplying weapons to North Eastern terrorists as well as cattle rustlers. When a special police squad arrested him in August 2019, the policemen were ambushed at a military check point, many of them were killed on the orders of an Army Captain who spoke 190 times on the phone to Wadumen. Wadumen’s leg chains were removed and he escaped. He was later re-arrested in Kano State. He has been standing trial since 2020. The petitioners say he had since enrolled for a course at National Open University [NOUN], so he deserves a pardon.

Another hot petition is being prepared in Lagos, seeking urgent pardon for Reverend Dr. Chukwuemeka Ezeugo, alias Reverend King, founder and former General Overseer of the Christian Praying Assembly. Only recently, full-page colour ads were placed in newspapers to celebrate his birthday, even though he is on death row. Reverend King was arrested in 2006 and charged with the murder of a church member, Ann Uzoh. Witnesses at his trial said Reverend King set Ann ablaze after accusing her of fornication. He was reported to have said at the trial, "I am a preacher. I know that the spirit of witchcraft is against the Almighty God. If somebody is a liar, he is bewitching God. I don't condone lie. Dr. King does not condone sin. I flog a lot. I have canes…” He was sentenced to death in 2007 and Supreme Court unanimously upheld the death sentence by hanging in February 2016. Since he has since shown remorse and is even preaching in prison, his death sentence should be commuted

to six months’ community service in his church. Federal Ministry of Justice [the new location for the Prerogative of Mercy Committee], please prepare to receive another petition on behalf of the Offa robbers. Ayoade Akinnibosun, Azeez Salahudeen, Niyi Ogundiran, Ibikunle Ogunleye and Adeola Abraham were sentenced to death having been found guilty for the violent robbing of five commercial banks in Offa Local Government area of Kwara State in 2018. Thirty-two people were killed in the robbery, including nine policemen, probably the bloodiest bank robbery in Nigerian history. Though convicted of conspiracy, culpable homicide, illegal possession of firearms and armed robbery, they have since turned out to be model prisoners and have all enrolled for various online courses at the National Open University. I hear that parents of the deceased cops have sent petitions in support of the plea for mercy, so we don’t expect the Inspector General of Police to oppose it. The sixth suspect, Michael Adikwu, a retired police officer, died in custody before the trial commenced and should be post-humously pardoned.

Lawyers and civil society activists in Benin are preparing a petition to seek pardon for Laurence “The Law” Nomanyagbon Anini. Following a series of daredevil armed robbery operations in the old Bendel State in mid-1980s, Anini and his powerful second-in-command, Monday Osunbor, were arrested at a girlfriend’s house on East Circular Road, Benin City. Newspapers alleged that it was the girlfriend that betrayed him, which is another ground of petition. The petitioners are now saying that Anini’s case was prejudiced because days before his arrest, then military ruler General Babangida confronted the Inspector General of Police on live television and demanded, “My friend, where is Anini?” After their capture in December 1986, Anini together with Monday Osunbor, Friday Ofege, Smallie, Henry Ekponwan, Eweka and Alhaji Zed Zed were sentenced to death by firing squad and were publicly executed in March 1987. Anini’s famous official car, a white Santana vehicle, has not been returned to his family. The pardon should expressly order for the vehicle’s return to Anini’s heirs.

Right there in the forests bordering Zamfara and Niger states, another petition is being drafted, seeking advanced pardon for Abubakar Abdullahi, alias Dogo Gide, alleged by newspapers to be a “notorious bandit who has committed several crimes against humanity, including kidnapping, raping, cattle rustling and armed robbery, destruction of many villages and kidnap of the Federal Government College Yauri schoolgirls.” The grounds for the petition are that Dogo Gide operates in ungoverned spaces, which is not his fault because no one told Nigerian governments to leave thick bushes unattended

to. Besides, the Forest Guards that government is about to set up, Dogo Gide can help them with training, bush navigation, riverine reconnaissance and multi-lingual communication in local languages. Next year’s pardon roll must feature Dr Ishola Oyenusi, the great Lagos robber of the early 1970s whose biggest achievement was the 1971 WAHUM factory robbery in Ikeja, where he stole 28,000 pounds [there was no naira at that time]. Oyenusi and six members of his gang were executed at the Bar Beach in Lagos in September 1971, which was a breach of their human rights for which they deserve a post-humous pardon.

I hear that lawyers, wearing red caps, were coming from Kano to submit a petition to pardon Abdumalik Tanko, proprietor of Noble Kids Academy, Nasarawa, Kano. In December 2021, Tanko kidnapped 5-year old Hanifa Abubakar, a pupil of his own school, the only daughter of her parents, hid her in his house, tried to extract a ransom of N6 million from her parents but when she recognised him, he made her to drink yoghurt laced with rat poison. He then buried her in a shallow grave inside his school premises. He and his accomplice Hashim Isyaku were sentenced to death in 2022 but they have been model inmates on death row and like Maryam Sanda, they also have children to take care of.

National Union of Electricity Employees [NUEE] will soon bring forth a petition to demand pardon for the NEPA Eleven. In October 1988, on the flimsy ground that they plunged the country into darkness as part of a strike by NEPA senior staff union, the dictatorial Babangida regime had them tried by a special military tribunal for treason and economic sabotage. They were sentenced to life in jail. Although IBB later pardoned them, they need a presidential pardon because it is more constitutional. I don’t know if it is true, but I hear that as soon as they settle down, the new military service chiefs will seek a pardon for Capt. Dauda Usman and Sgt. Clement Yildar. On September 30, 1979, a day before it handed over power to civilians, the Supreme Military Council headed by General Olusegun Obasanjo placed one final ad in all the newspapers saying: “Wanted For Treason and Murder. Capt. Dauda Usman and Sgt. Clement Yildar.” They were accused of complicity in the February 1976 abortive coup and the killing of Head of State General Murtala Mohammed. If they had been found then, they would have been executed alongside Lt Col Bukar Suka Dimka and Major General Iliya Bisalla. They have been wanted for 39 years now but were never found. The Service Chiefs apparently think it is time to grant them a pardon and stop wasting the time of Defence Intelligence Agency [DIA] in a fruitless search.