Author: The Nation

  • U.S., Nigeria sign $5.1b health pact to expand faith-based healthcare delivery

    U.S., Nigeria sign $5.1b health pact to expand faith-based healthcare delivery

    The United States and Nigeria have signed a five-year bilateral health Memorandum of Understanding (MOU) aimed at strengthening Nigeria’s health system, with a strong focus on expanding faith-based healthcare delivery.

    The agreement, signed by the U.S. Department of State and the Federal Government, provides for a combined investment of nearly $5.1 billion over the life of the MOU.

    Of this amount, the United States plans to commit almost $2.1 billion, while Nigeria will increase its domestic health spending by about $3 billion, the largest co-investment recorded so far under the America First Global Health Strategy.

    Announcing the agreement in a statement at the weekend, the U.S. Principal Deputy Spokesperson, Thomas Pigott, said the funding would be directed at expanding essential preventive and curative services, including HIV, tuberculosis, malaria, maternal and child health, and polio interventions.

    According to the statement, a significant component of the MOU is dedicated to strengthening Christian faith-based healthcare providers across Nigeria.

    The agreement was negotiated alongside reforms by the Nigerian government to prioritise the protection of Christian populations from violence, with targeted funding to support faith-based clinics and hospitals.

    Under the MOU, the United States will continue to support surveillance and outbreak response, laboratory systems, health commodities; frontline healthcare workers, and data systems. 

    Read Also: Tinubu assures Nigerians on security, urges peaceful Eyo celebration

    Also, the statement claimed that Nigeria faces significant health challenges, including one of the highest maternal and child mortality rates globally and approximately 30 percent of the global malaria burden. 

    Therefore, U.S. assistance under the MOU will expand access to affordable, preventive and curative services for  HIV/AIDS, tuberculosis (TB), malaria, polio, and maternal and child health, strengthening health outcomes across Nigeria.

    The MOU places a strong emphasis on Christian faith-based healthcare providers, recognising their indispensable role in delivering care to communities in need.

    Nigeria’s more than 900 faith-based clinics and hospitals serve more than 30 percent of the country’s 230 million people, often in areas where healthcare facilities are limited or absent. 

    The MOU provides approximately $200 million in dedicated support to strengthen and support these Christian facilities, enhance workforce capacity, and expand access to integrated HIV, TB, malaria, and maternal child health services. 

    The MOU was negotiated in connection with reforms undertaken by Nigeria to prioritise the protection of Christian populations from extremist violence.

     As with all U.S. foreign assistance, the President and Secretary of State retain the right to pause or terminate programmes that do not align with U.S. national interests, and the United States expects Nigeria to continue making measurable progress in combating religiously motivated violence against Christian communities.

    This five-year MOU is the latest of several health cooperation MOUs signed in Africa this month.

  • Lawmaker launches food discount market

    Lawmaker launches food discount market

    A Lagos lawmaker, Gbolahan Olusegun Yishawu, representing Eti-Osa Constituency II in the Lagos State House of Assembly, has launched a 50 per cent discount food market to support residents during the Christmas and New Year festivities.

    The initiative, held in the constituency, featured the sale of essential food items at heavily subsidised rates, with some products discounted by more than 50 per cent.

    Items on sale included rice, beans, gari, yams, palm oil, eggs, bread, meat, chicken, fish and Indomie noodles. Buyers also received free pepper mixes to help families prepare meals.

    Yishawu said the discount market was part of his ongoing social intervention programmes designed to ease the economic burden on residents, particularly during the festive season.

    “We run several programmes in our constituency, ranging from education and digital skills training to entrepreneurship support. Considering the festive season, we decided to reach out to our people by significantly reducing the prices of staple food items they truly need,” he said.

    According to the lawmaker, more than 10,000 food items were made available, with each buyer permitted to purchase up to five items to ensure wider access.

    He added that residents were allowed to combine items across different food categories to meet their household needs.

    Read Also: How Tinubu’s turning APC’s majority into Nigeria’s long-awaited restructuring moment

    Yishawu noted that although the initiative was being introduced for the first time, plans were underway to make it a regular feature during festive periods.

    He pointed to the sustainability of previous programmes, including a free school bus scheme that has been running for over five years, as evidence of his commitment to continuity.

    On participation, the lawmaker stressed that the programme was non-partisan.

    He said: “Nobody was asked for a party card. We represent everyone in this constituency.

    “We reached out to residents through SMS, billboards, flyers and social media over several weeks.”

    He explained that voter registration cards were used solely to verify residency within the constituency, while also encouraging eligible citizens to see voter registration as a civic duty.

    The initiative attracted commendation from local government officials and political leaders.

    Chairman of Ikoyi-Obalende Local Council Development Area (LCDA), Mr Bola Oladunjoye, described the programme as timely and impactful.

    He noted that “every saving counts” for families amid rising food prices.

    Residents who benefited from the market also expressed appreciation, with one buyer describing the prices as “amazingly low” and saying the initiative would help less-privileged families enjoy the season.

    With large crowds still trooping in hours after the programme began, Yishawu assured residents that adequate supplies had been made available to meet demand, reaffirming his commitment to initiatives aimed at providing relief and support to his constituents.

  • Abiru, MAN, VC make case for funding of research

    Abiru, MAN, VC make case for funding of research

    Nigeria risks falling behind in the global knowledge and technology race unless it urgently strengthens university-led research through adequate funding and sustained partnerships with industry, stakeholders have warned.

     Vice-Chancellor of Lagos State University of Science and Technology (LASUSTECH), Prof. Olumuyiwa Odusanya; the Senator representing Lagos East,  Tokunbo Abiru and  President of the Manufacturing Association of Nigeria (MAN), Otunba Francis Meshioye, made the call at the inauguration of the maiden LASUSTECH Research Innovation and Development Fair (LRIDF) 2025,  at the institution’s Ikorodu campus.

    The fair, themed: “Rebuilding Nigeria’s Research and University System in a Fast-Changing Global Environment,” was positioned as a platform to bridge the long-standing gap between academic research and real-world industrial application.

    Prof. Odusanya said no nation could attain greatness without building strong universities that function as engines of development, not only through teaching but through impactful research.

    “For a nation to be great, it must build great universities,” he said, stressing the urgent need for a well-funded research ecosystem that delivers solutions to national challenges.

    Drawing from personal experience,  the Vice-Chancellor said that he led the clinical trials for the conjugate pneumococcal vaccine currently used in Nigeria’s national immunisation programme, describing it as proof that university research can directly improve lives.

    He urged Nigerian universities to move beyond basic research to translational and problem-solving research, noting that global advances in areas such as genetic engineering, quantum computing and telecommunications were driven by strong research–industry collaboration.

    “Research cannot be done in isolation,” Odusanya said, adding that teamwork, industry partnerships and the ability to attract competitive grants were now indispensable.

    According to him, the LRIDF was designed to encourage peer review, foster collaboration and showcase research prototypes with commercial potential. He also assured that the university would continue to support staff through TETFund grants and conference sponsorships, while appealing to industry leaders to invest in university research.

    Senator Abiru warned that Nigeria would be left behind if it failed to reinvest in its universities and innovation systems.

    “Nations that do not invest in research and human capital risk falling behind irreversibly. Nigeria must not be one of them,” he said.

    He hailed LASUSTECH for initiating the fair, describing it as a step towards reimagining and reinvigorating the country’s research enterprise.

    Acknowledging the abundance of talent in Nigerian universities, Abiru said inadequate funding, poorly equipped laboratories and weak industry linkages continued to limit their impact.

    “Our universities must be transformed into hubs where knowledge translates into economic value and job creation,” he said.

    The senator also highlighted ongoing government efforts to expand digital infrastructure, including the proposed 90,000-kilometre national fibre-optic project, which he said would support innovation and technology-driven growth.

    Addressing students at the event, Abiru said: “The future of growth, the future of wealth, is in technology,” pledging to promote policies that strengthen Nigeria’s research ecosystem, including support for startups and university-based innovation.

    MAN President, Otunba Meshioye, took a critical look at Nigeria’s position in global university rankings, citing the 2025 Times Higher Education World University Rankings dominated by institutions such as Oxford, MIT and Cambridge.

    He said these universities excel because of strong research ecosystems, high-impact publications, international collaboration and deep integration with industry.

    Meshioye attributed Nigeria’s poor showing largely to chronic underfunding, noting that the country invests less than 0.3 per cent of its Gross Domestic Product in research and development, far below the global average of 1.95 per cent.

    “This underinvestment has a direct economic cost,” he said. “A country that underfunds research will overpay for imports.”

    He lamented that many Nigerian research outputs remain trapped in theses and academic archives instead of being converted into patents, products and industrial solutions.

    The situation, he added, is worsened by persistent brain drain, citing the exit of 239 professors between 2015 and 2023 due to poor remuneration.

    “Research is not for decoration. It is for development,” Meshioye said. “When research does not reach industry, we lose twice – the money spent on it and the money used to import the same solutions.”

    To reverse the trend, he proposed a five-point action plan, including co-created research between universities and industry focused on national problems such as power and food security; promotion of lecturers based on patents and partnerships, not just publications; and mandatory industry internships.

    He also urged the Federal Government to meet UNESCO’s benchmark of allocating at least 15 per cent of the national budget to education and to provide tax incentives for companies that fund university research.

    Meshioye called for a change in mindset, saying universities must see themselves as problem solvers, industry as partners, and government funding as an investment rather than an expense.

    He assured that MAN was ready to work with LASUSTECH, describing the needed collaboration as a “new covenant between town and gown” to translate Nigeria’s talent and knowledge into sustainable national prosperity.

  • Tinubu’s budget speech of discipline as doctrine, boldness as signal, security as core

    Tinubu’s budget speech of discipline as doctrine, boldness as signal, security as core

    By Sunday Dare

    President Bola Ahmed Tinubu’s 2026 Budget Speech is remarkable, not only for its rhetorical flourish, it is remarkable, for something far more consequential in Nigerian public finance management: authority, realism, and enforcement intent.

    This budget  indicates where Nigeria is coming from, where it is, and—critically—what must now change.

    •A President Owning the Hard Truths,Powering Forward

    The first strength of the speech lies in what it does not evade. The President openly acknowledges that:

    •budget execution must be stronger,firm

    •revenue assumptions were optimistic,

    •and fiscal reality eventually caught up with projections.

    This candour is rare in budget presentations, which often prefer abstraction over admission. By naming the problem plainly, the President establishes credibility and signals a shift from excuse-making to corrective action.

    The clarification that the additional three months for 2025 budget execution is legal housekeeping, not fiscal indiscipline, further reinforces a leader who understands constitutional boundaries and chooses to explain them, not hide behind them.

    Read Also: Tinubu assures Nigerians on security, urges peaceful Eyo celebration

    •The Boldest Line in the Speech: Command, Not Consultation

    The speech reaches its most consequential moment at Paragraph 12:

    “Let me be clear: 2026 will be a year of stronger discipline in budget execution.”

    This is not rhetorical emphasis; it is executive instruction. Naming the Minister of Finance, the Minister of Budget and Economic Planning, the Accountant-General, and the Director-General of the Budget Office is deliberate. It does three things at once:

    •fixes responsibility,

    •removes ambiguity,

    •and collapses bureaucratic distance.

    This is presidential authority exercised without apology. It sends a clear signal that 2026 is not a negotiating year for fiscal laxity.

    •From Reform Rhetoric to Enforcement Architecture

    The speech’s boldness deepens in its treatment of Government-Owned Enterprises (GOEs). The language shifts from encouragement to performance compulsion:

    •assigned revenue targets

    •digitised end-to-end collections

    • interoperable payment rails

    •real-time dashboards,

    • performance scorecards tied to evaluations.

    This is not merely reform language; it is institutional redesign. The President is explicit that underperformance will no longer be masked by opacity or manual processes. The subtext is unmistakable: systems will now remember who performed and who did not.

    •Security Doctrine: No Moral Grey Zones

    On national security, the speech abandons euphemism entirely. The declaration that any armed group operating outside state authority will be regarded as terrorists is a doctrinal reset. It removes political, ethnic, or semantic cover from violent non-state actors.

    This is bold because it narrows discretion and widens accountability. It also signals to security agencies that ambiguity will no longer be an operational excuse.

    •Fiscal Numbers as Political Statement

    The budget aggregates are presented not as defensive explanations, but as choices:

    •a conservative oil benchmark

    •realistic production assumptions

    •a deficit framed within sustainability, not denial.

    The repeated insistence that “these numbers are not mere accounting lines” reinforces the President’s framing of the budget as an instrument of national priority, not legislative ritual.

    •A Quiet but Firm Philosophy Shift

    Perhaps the most important feature of the peesentation is its philosophical undertone:

    Nigeria is moving from expansion without discipline to consolidation with enforcement.

    The closing line captures it succinctly:

    “The most significant budget is not the one we announce. It is the one we deliver.”

    That sentence alone separates this speech from many of its predecessors.

    Why This Budget Matters

    This budget speech is bold not because it promises miracles, but because it sets consequences. It does not sell optimism cheaply; it conditions optimism on discipline, systems, and performance.

    In tone, structure, and substance, it signals a presidency that is no longer merely reform-minded, but execution-driven. If followed through, it marks a transition point: from reform as intent to reform as enforcement.

    In that sense, this budget is less a fiscal document and more a governance marker—and its boldness lies precisely there. 

  • Who poisoned Buhari?

    Who poisoned Buhari?

    The enigma that was Muhammadu Buhari sprung up again for reckoning. In his new book:  From Soldier to Statesman, Dr. Charles Omole intrudes on our understanding of the man. He thereby has nudged the tall, angular figure with an ascetic carriage and rare, beguiling smiles from the solemnity of his grave.

    From the grave? Great men do not rest in peace when they leave. They are summoned now and again for eulogies and more elegies. They return for a moment, a seminar, or a political event, a comparison, an inspiration, to rebury them, or to historicize them into heroes or villains. We distort their words, reappraise their deeds, send them to Golgotha and back. We cast them in our image by reimagining the past itself as though it is now.

    Men like Caesar, Solon, Napoleon, Mandela, Churchill, De Gaulle, Lincoln, Awo, Sankara, Lumumba rise out of their epitaphs to be redressed or perfumed. Also, Hitler, Pol Pot, Franco, Mobutu, Idi Amin, and the sawdust Caesar also known as Mussolini help illuminate us even when they pollute. So, Shakespeare may have overplayed the ritual of death when he wrote in Hamlet, “Goodnight, sweet prince; and flights of angels sing thee to thy rest.”

    No rest for Buhari this season. We have Buhari today back to the forge or forgery of a censorious nation. Omole’s book reminds us as Ralph Waldo Emerson does in his line that “there is properly no history but the biographies of great men.”

    Maybe Buhari was great. Maybe not. But two principal things strike one in that book, even as excerpts steal out to the public eye. First is the lament of his wife and former First Lady Aisha Buhari. And it relates to the man’s illness on the throne.

    Aisha said it all began when the former president abandoned his medical regimen because some of his folks insinuated that she wanted to poison him. A great charge that none of them have denied or even have tried to undermine. She said the regimen kept him in good health. But once he leaned to the so-called cabal, he abandoned the regimen, and his health began to fail him.

    Because of that he was out of the country for over 150 days. We recall that time as precarious for governance. Osinbajo took over and made a ‘royal’ misstep and fell into the doghouse of the power game. There were those who stoked underground intrigues and eyed a new berth as president for themselves. A certain small man from a power state up north and a certain mouthy man from the south-south were dreaming a tie-up as possible president and vice president. They are together again in a coalition in the same furtive game of futility.

    Meanwhile, stories of death or near so were exaggerating Buhari’s health. Not many of the intriguers were happy he returned to the éclat and applause of his adoring followers. But what bothers one is how a few advisers could destroy a throne because of their greed for influence and filthy lucre.

    They turned husband against wife because they wanted to turn a profit. They did. They twisted democracy in their own favour. They were political families and blood families against the greatest bond between two people: man and wife. They stabbed the first unit of the first unit of society in the country. Sociologists say the family is the first unit, and the president’s family is the first of the first units. One of cohorts, a fuddy-duddy, took over and felt entitled to hold court in Aso Rock as though elected. Another one, Abba Kyari even made himself NNPC board member and said with familiar impunity that it was Buhari who put him there to represent him. The chief of staff told the lie to Buhari, even when the president did not say so. He was the man trying to play double. He was a metaphorical Jibrin. The fuddy-duddy a family man; Kyari a political associate. Both led him to near death because they broke a family.

    Aisha was no goddess in Aso Rock. Neither did anyone expect her to be. But she was his wife. Before her, Yar-Adua had Turai as first lady who served as the garrison of the president’s heart. No cabal could push her down. She was the cabal, if there was one. In fact, a prominent woman today once asked in those days what Yar-Adua did to his wife that Turai would not forgive him but allow him to undergo public ridicule and trial? In other words, the man was dying, so why not let him go in peace rather than egg on the tempest of stories about his good health and return to power?

    Aisha irked the Cabal for trying to be the husband’s garrison. They took her down. She complained about Buhari’s lack of gratitude to those who helped him to the office after three tries. She was referring to now  President Bola Tinubu and many a foot soldier. But the man who mocked the other room would not listen. She also said her husband was listening to the wrong voices. She was challenging wickedness in high places and principalities in the vault of power.

    Read Also: Nigeria deploys new electronic navigational charts to Calabar, Bakassi channels

    She lacked Turai’s or Maryam Babangida’s influence with the man. She also did not have the wiles of the wives of ancient Greece and Rome, who turned themselves into matadors. It was because the man did not love his wife enough. He almost died because he abandoned his great asset. He had to return to her in a way because she resumed, in her confession, by slipping new medicines into his porridges. The man revived but time had been killed. “You can’t kill time without injuring eternity,” noted Thoreau.

    Losing over six months, of course, injured his legacy. How did that time affect his ability to operate with physical and mental confidence? How did that affect how he handled power, or ethics, or education or the other high imperatives of office?  We shall never know.

    So, if someone tried to poison Buhari, it was not the woman who revived her. In fact, we might say, the cabal poisoned him. They took him off work, derailed his focus and undermined his legacy. In the end, you will not blame the cabal but the man who made them his trust.

    The other point in the book was Dr. Yemi Osinbajo’s ambition. It is clear that he might have betrayed his naiveté. His team said he met Buhari about his ambition. To say he supported him showed the novice the former vice president was. If the man encouraged him to run, it did not mean he supported him. If he approved, it was not the same thing as endorse. Godfathers don’t ask anyone not to run. In fact, the father often is the initiator of the project. He clasps to his chest his favorite, and it was not President Tinubu. Tinubu was not naïve to rely on Buhari. Hence his Abeokuta rhetorical uppercut. If Osinbajo was wise, he was not street smart, nor politically savvy. He went to battle with a hole in his armour. The don was undone.

    He should have known that Buhari was propping up Lawal. If he did not know, he was not a politician. His associates, especially a professor, was gung-ho about Buhari’s support. The Katsina patriarch was cracking the nuts for the former senate president and Osinbajo thought himself the darling of the gods.

     He was entitled to his own failure as other hopefuls in the APC top perch who were hoodwinked and suborned into delusions of grandeur. The cabal filled its pouch. In that regard, though, Omole reveals nothing new.

    Omole’s book also shows that Buhari, for all the hero worship, was made of flesh and blood. And as Sophocles notes in his play Ajax, “He was just a man before this, wasn’t he?”

  • Fashola goes to court

    Fashola goes to court

    It was a brief moment on social media. Former Lagos State governor and minister as Trojan under Buhari, Babatunde Raji Fashola, appears in court. We do not know the case or the status of the client. It was just a sentence as the tall attorney rises to introduce himself. Here we have it. Fashola goes to court.

    It is interesting because the man has shown that real men can have a life outside politics. Political career is a good thing, and everyone with a social conscience should aspire to it. But it ought not be the be-all and end-all of a career. He has been in politics since he became chief of staff to the now president but the then governor of Lagos State, Asiwaju Bola Tinubu. He became governor for eight years and minister for another eight approximately. He spent a huge chunk of his life in the arena.

    Read Also: Visa restrictions ‘ll address U.S.-Nigeria mutual security concerns – Envoy

    He is a lawyer and good one at that, hence he is a SAN. Others should learn from him. One, having served in office, they can bring their acumen back to enrich the civil society. Two, many of them have acquired resources and ideas about a better society, and they mobilise them for good in charities for education, healthcare, environment, etc. such engagements can occupy them for a lifetime. Jimmy Carter is known for his work after he was president than his White House exploits. It is a pity that many of them think a reward for political office is another political office. Three, they should allow others a chance to try their talent as well. There is a certain selfishness that makes some of them angry when they are not called back for the meaty prize. They ignore their past privileges, the constipation of opportunities they have had, and they should bow for others.

    Aristotle noted that to enter politics one must have first done well in a profession. These days, persons leave school to become politicians.

  • Winhomes CEO clarifies land acquisition costs for Okun Ajah estate

    Winhomes CEO clarifies land acquisition costs for Okun Ajah estate

    The Chief Executive Officer of Winhomes Global Services Ltd, Stella Ifeoma Okengwu, has clarified issues surrounding the acquisition of land for the company’s estate project in Okun Ajah, Lagos.

    In a public statement released on Friday, Okengwu said the company did not acquire the land for the sum of ₦50 million, noting that the figure did not reflect any transaction or payment made by Winhomes in relation to the property.

    She explained that Winhomes lawfully acquired the Okun Ajah land from recognised land-owning families, legitimate stakeholders and individual landowners with valid interests. According to her, all transactions were properly documented, with payments made through traceable channels.

    Okengwu stated that the company made significant financial commitments during the acquisition process and subsequently invested heavily in site preparation, including clearing dense forest areas, mobilising equipment and constructing a major access road linking Coplag to Okun Ajah ahead of full-scale development.

    She added that, following the commencement of development, Winhomes encountered claims over portions of the land. She said these matters were addressed through dialogue, financial settlements and legal processes, culminating in lawful and court-backed agreements.

    According to her, additional payments were also made to resolve overlapping interests, access challenges and community-related issues connected to the land.

    Read Also: Tambuwal seek US support for Nigeria’s security fight

    Okengwu disclosed that the total documented cash payments made by Winhomes in relation to the Okun Ajah land amounted to ₦2.823 billion, excluding other corporate social responsibility contributions. She added that the company also provided support items, including vehicles, to community stakeholders and cooperative groups as part of its social responsibility initiatives.

    She said Winhomes’ overall economic commitment to the project stood at ₦4.323 billion, covering land acquisition, dispute resolutions, infrastructure works and related investments.

    Okengwu noted that the issues surrounding the Lagos–Calabar Coastal Road project had drawn attention to broader concerns about property rights and investment security, particularly for diaspora and foreign investors.

    She called on relevant authorities, including the National Assembly, to review the matter, describing it as one with implications for property rights, foreign direct investment, diaspora remittances and the rule of law.

    She concluded by urging the government to uphold transparency and due process, stressing the importance of protecting legitimate investments to sustain investor confidence and Nigeria’s economic future.

  • SEC sets January 2026 deadline for capital market operators’ registration renewal

    SEC sets January 2026 deadline for capital market operators’ registration renewal

    The Securities and Exchange Commission has directed all capital market operators to renew their registration between January 1 and January 31, 2026, as part of broader efforts to modernise regulatory processes and deepen confidence in Nigeria’s capital market.

    The Commission also disclosed that it will begin the electronic receipt and processing of applications for registration and updates to registration information in the first quarter of 2026, a move aimed at reducing delays, improving transparency and easing engagement between regulators and market participants.

    A statement from the Commission on Sunday said the Director General of the SEC, Dr. Emomotimi Agama, made this known when he spoke extensively on the Commission’s digital transformation agenda and its implications for operators and investors.

    According to Agama, the initiatives are designed to reposition the Commission as a technology-driven regulator capable of responding to the evolving needs of a fast-changing financial ecosystem.

     “These initiatives reflect our commitment to leveraging technology for faster, more transparent, and efficient regulatory processes. The Commission is taking deliberate steps to make regulatory processes faster, more transparent, and technology-driven. We are investing in automation, databased supervision, and secure infrastructure to improve how we interact with the market,” he said.

    He explained that the SEC’s Digital Transformation Portal has already changed the way registration and licensing are handled, with processes now fully automated from start to finish. Through the platform, operators are able to submit applications, upload required documents and track approvals online, significantly cutting down manual processing time and limiting the need for physical visits to the Commission.

    Agama also disclosed that the Commission has introduced a Commercial Paper issuance module that enables operators to file documents, monitor the status of applications and receive approvals electronically. He noted that feedback from early users of the platform has shown a clear improvement in turnaround time, signalling early gains from the digital shift.

    Beyond registration and issuance processes, the SEC is working to automate the submission of quarterly and annual returns by operators. Agama said structured templates and system checks are being developed to ensure accuracy and consistency, while a returns analytics dashboard is also in progress to support risk-based supervision and exception reporting.

    “To back these changes, we have started upgrading our IT infrastructure, servers, storage, networks, and security layers, to boost speed and reliability. Selective cloud migration is underway for platforms that need scalability and external access, while core internal systems remain on premise for now as we assess security and cost implications,” he said.

    He added that data protection and cybersecurity remain central to the Commission’s strategy, noting that vulnerability assessments are ongoing, with penetration testing planned once the automation and migration phases stabilise. According to him, the objective is to build a modern and resilient regulatory environment that supports operational efficiency, strengthens investor confidence and promotes overall market stability.

    Read Also: Nigeria’s tax reset: what changes, what’s at stake

    Agama said the Nigerian capital market is firmly on a path towards full digital transformation but warned that the journey requires deliberate policy choices and capacity building. He stressed the need for regulatory clarity around advanced technologies, targeted support for smaller firms and sustained initiatives to build skills across the market.

    “A phased and proportionate approach to regulating emerging technologies such as AI is essential, complemented by internal readiness through supervisory technology tools. Furthermore, investor education, particularly among younger demographics, will be critical to future-proof participation and drive fintech adoption,” he said.

    While encouraging innovation, the SEC boss cautioned that technology adoption must go hand in hand with responsibility. “Innovation is vital, but it must be accompanied by responsibility. As operators embrace automation, artificial intelligence, and data-driven tools, they bear a duty to ensure ethical, secure, and compliant deployment. Safeguarding investor data, preventing market abuse, and maintaining operational resilience are non-negotiable,” Agama stated.

    He noted that responsible use of technology ultimately serves a higher purpose in the market. “Responsible technology adoption is about building trust, the cornerstone of our markets. Trust thrives on fairness, transparency, accountability, and regulatory compliance,” he said.

    Agama therefore urged capital market operators to uphold these principles as the market becomes increasingly digital, noting that doing so would protect investors and systemic stability while strengthening the long-term credibility and competitiveness of the Nigerian capital market.

  • Onuigbo urges govs to implement financial autonomy for area councils 

    Onuigbo urges govs to implement financial autonomy for area councils 

    …backs Tinubu’s directive on govs to hands off LG funds 

    The member representing South East on the Governing Board of North East Development Commission (NEDC), Sam Onuigbo urged governors to implement financial autonomy for local councils in their states. 

    Onuigbo, a former House of Representatives member, said the directive by President Bola Tinubu on the fiscal autonomy for councils was a welcome development.

    He said that the low-level democratic benefits in the 774 councils in the past 26 years of fourth republic followed the undue interference by state chief executives in the running of grass roots governance.

    Speaking to journalists in Abuja on Sunday, Onuigbo said he was very happy to hear the President’s passionate declarations in the presence of state governors and party men.

    He said, “What this means is that governors who have been tampering with Local Government funds should be prepared to show where the money went. Mr President is determined and from my understanding of the tone and tenor of his statement, some governors will go down for seizing Local Government money through various means.

    “I think this is a wonderful opportunity for me personally and the Nigerian people to continue to commend Mr. President for remaining dogged, determined, resolute in trying to resolve this issue.

    “Over the years, I have said over and over again that unless the Local Government system is freed from the clutches of governors to directly access the resources accruing to them constitutionally, we will not be able to achieve the much-needed development at the grassroots.

    “This is because, in the first place, when you allocate resources from the Ministry of Finance based on the constitution and in line with Supreme Court judgment, and these resources do not get to the local government, It becomes a huge problem with many ramifications.”

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    Onuigbo attributed the insecurity and unemployment at the grassroots to the unhealthy control of local governments’ funds.

    He said that if council officials are allowed to superintend over their finances, they would productively engage the youths and stop them from going into anti-social vices, especially violent crimes.

    Onuigbo added, “If we resolve the issue of governors’ unconstitutional control of resources accruing to the local government as the Supreme Court and President Tinubu have said, I assure you that that will help to stamp out insecurity, because council chairmen should and do know those who are capable of causing problems in their jurisdiction and easily rein them in with people in with those resources.

    “But, the situation, where in most of the states, the Council chairmen do not see the money and they are constrained by the dubious process that threw them up, they become helpless. This is why I continue to thank the President for standing very strong on this matter over the years, because since he mounted the saddle and the Attorney General of the Federation went to court on the matter, this administration has been saying that the Local Government councils deserve the full worth of their money.”

  • Ibadan traditional stakeholders warn politicians against disrespect for Olubadan stool

    Ibadan traditional stakeholders warn politicians against disrespect for Olubadan stool

    Traditional institution stakeholders in Ibadanland, including the Mogajis, monarchs, baales, the Ibadan Compound Peace Initiative (ICPI) and prominent sons and daughters of the ancient city, have cautioned individuals, groups and politicians against any act capable of disrespecting the stool of the Olubadan and the Ibadan traditional institution.

    The stakeholders warned that any individual, group or politician found disrespecting the Olubadan stool, or associating with those who do so, should not expect the support or votes of the people of Ibadanland in the 2027 elections.

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    In a statement jointly signed by the President of Ibadan Mogajis, Mogaji Asimiyu Ariori, and the Coordinator of ICPI, Mogaji Dr. Nurudeen Akinade, the leaders stated that Ibadanland, which comprises 11 local government areas, accounts for over 60 per cent of the total votes in Oyo State.

    They maintained that no politician can win an election in the state without the support of the Ibadan people, stressing that Ibadan has consistently determined political outcomes in the state and beyond.

    According to the statement, the traditional stakeholders are determined to protect the Olubadan institution and Ibadanland from any form of ridicule.

    “Anybody that disrespects or associates with whoever intends to ridicule Ibadanland and our traditional institution should forget 2027,” the statement said.

    “We have been watching and monitoring developments in recent times. The Olubadan institution and Ibadan traditional institution in general are very crucial and important to us.”