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  • Ex-acting Accountant-General moves to halt final assets forfeiture

    Ex-acting Accountant-General moves to halt final assets forfeiture

    Justice Mohammed Umar of the Federal High Court in Abuja has fixed April 30 for ruling on an application by the Economic and Financial Crimes Commission (EFCC) seeking the final forfeiture of a property allegedly owned by a former Acting Accountant-General of the Federation, Chukwunyere Anamekwe Nwabuoku.

    Yesterday, defence counsel, Norrison Quakers (SAN), informed the court that he had filed an application seeking to set aside the interim forfeiture order granted by the court on January 27, last year.

    He also drew the court’s attention to a notice of preliminary objection dated August 15, last year, challenging the court’s jurisdiction to entertain the matter.

    Quakers urged the court to discountenance the EFCC’s application for final forfeiture because the property is already a subject of a pending criminal trial in another court.

    He further prayed the court to set aside the anti-graft agency’s application.

    Prosecution counsel, Ekele Iheanacho (SAN), referred the court to a motion dated May 6, 2024, seeking the final forfeiture of the property. He argued that the property was reasonably suspected to have been acquired with the proceeds of crime.

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    He explained that the application was supported by an eight-paragraph affidavit deposed to by an EFCC operative, Chinyelu Vivian Okpara, with exhibits marked EFCC 1 to EFCC 7.

    According to the prosecution, Nwabuoku, while serving as Director of Finance at the Ministry of Defence, allegedly diverted funds released for military operations against Boko Haram through fictitious accounts, amounting to about N900 million.

    Iheanacho told the court that N355 million allegedly traced to the defendant was paid through an account belonging to M. Davies Enterprises Limited, from which the disputed property was purchased.

    He added that Nwabuoku voluntarily handed over the keys to the property during the investigation and refunded part of the funds before later challenging the forfeiture.

    Justice Umar adjourned the matter till April 30, 2026, for ruling.

  • ABUAD partners Chinese firm on breast cancer treatment

    ABUAD partners Chinese firm on breast cancer treatment

    The Afe Babalola University, Ado-Ekiti (ABUAD) has entered into a partnership with a leading Chinese firm, Cherami-PV Group, to deploy artificial intelligence-driven solutions for early detection and treatment of breast cancer.

    Speaking at the signing of a Memorandum of Understanding (MoU) by the two parties yesterday in Ado-Ekiti, the Ekiti State capital, ABUAD’s Vice Chancellor, Prof. Smaranda Olarinde, said the partnership was aimed at addressing one of Nigeria’s most pressing public health challenges.

    Olarinde said the partnership would leverage the AI-enabled breast imaging to improve early diagnosis, enhance accuracy and expand access to quality screening.

    The vice chancellor noted that technology would complement, not replace, medical expertise.

    Olarinde, who described the partnership as a model for impactful collaboration between academia, healthcare and industry, stated that the pilot phase would ensure ethical compliance, capacity building and evidence-based implementation.

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    She expressed confidence that the partnership would deliver measurable benefits to Ekiti State, serve as a model for similar collaborations across Nigeria and Africa, and ultimately contribute to saving lives, advancing knowledge and strengthening global partnerships.

    ABUAD Hospital’s Chief Medical Director (CMD), Dr. Akinola Akinmade, described cancer as one of the leading causes of death in Nigeria, with breast cancer posing a particularly grave threat to women.

    He announced that about 32,000 women are diagnosed with the disease annually, while about 16,000 others die each year and 42 women die every hour.

    Akinmade said early detection remained critical to reversing the ugly trend.

    The CMD said the partnership would deploy artificial intelligence to enable rapid and accurate diagnosis.

    He added that the initiative would also provide telemedicine support to complement ABUAD’s existing manpower, improve clinical decision-making and strengthen capacity-building for healthcare professionals.

    Akinmade also said the collaboration would further lead to the establishment of a standard cancer treatment centre at the hospital, positioning ABUAD as a leading hub for cancer care and research in Nigeria and beyond.

    The co-founder of Cherami Investment, Prof. Wei Xiaolin, expressed delight over the partnership.

    He described ABUAD as one of the most outstanding academic and medical institutions in Sub-Saharan Africa.

    The Cherami chief said the decision to partner with ABUAD was informed by the university’s unparalleled reputation for innovation, research excellence, and consistent delivery of world-class healthcare services.

    Xiaolin added that the partnership between Cherami Investment and ABUAD was anchored on shared values and a collective resolve to address critical health challenges, especially cancer.

    The Cherami chief noted that the collaboration would combine ABUAD’s strong clinical capacity with Cherami’s technological expertise to deliver innovative solutions that would not only benefit Nigeria but also serve as a model for Africa and the global health community.

    Xiaolin, who described Chief Afe Babalola as a rare visionary and a hero of Africa, noted that the eminent lawyer’s life story and accomplishments in law, education, healthcare and philanthropy stood as a source of inspiration beyond Nigeria.

    Babalola stated that the university was fully committed to conquering cancer, describing the deadly disease as one of the greatest health challenges confronting humanity.

    He said ABUAD was established to tackle impossible problems through cutting-edge knowledge, research and innovation, stressing that cancer would not be an exception.

    Babalola said ABUAD hospital had, over the years, recorded notable medical breakthroughs, recalling its significant role in researching and producing a drug approved by the National Agency for Food and Drug Administration and Control (NAFDAC) during the COVID-19 pandemic.

    The ABUAD founder expressed confidence that cancer, like other complex diseases, could be defeated through sustained research, collaboration and determination.

    He said: “Whatever it takes, we are ready. With this partnership, we believe a cure for cancer is achievable.”

  • Suspension: Akpoti-Uduaghan urges Supreme Court to quash Akpabio’s appeal

    Suspension: Akpoti-Uduaghan urges Supreme Court to quash Akpabio’s appeal

    Kogi Central Senator Natasha Akpoti-Uduaghan has filed a counter-affidavit at the Supreme Court seeking to quash an appeal filed by Senate President Godswill Akpabio.

    The counter-affidavit was deposed to by a senior legislative aide to Akpoti-Uduaghan and filed in response to Akpabio’s Motion on Notice dated January 21.

    The counter-appeal is in opposition to an appeal instituted by the Senate President, arising from the proceedings at the Court of Appeal.

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    Akpoti-Uduaghan urged the apex court to dismiss the application in its entirety, arguing that it discloses no prima facie good cause and constitutes an abuse of court process.

    According to the counter-affidavit, the Court of Appeal has already concluded the hearing in the substantive appeal on November 28, last year, and reserved the matter for judgment.

    The respondents contended that approaching the Supreme Court at this stage amounts to an attempt to interfere with an appellate process that has reached an advanced stage and is awaiting final determination.

    Akpoti-Uduaghan alleged that Akpabio was given an ample opportunity to present his case before the Court of Appeal in strict compliance with the Rules of Court.

  • Polaris Bank provides free cancer screening

    Polaris Bank provides free cancer screening

    Polaris Bank has reinforced its commitment to community health and social impact with the launch of a nationwide free breast cancer screening initiative, in partnership with its NGO ally, Care Organisation and Public Enlightenment (C.O.P.E). This is coming in line with the World Cancer Day.

    The initiative is aimed at driving awareness, early detection and preventive care, underscoring the Bank’s position that access to quality healthcare is fundamental to individual wellbeing and long-term economic productivity.

    As part of the 2026 World Cancer Day activities, Polaris Bank will provide free, comprehensive breast cancer screening for 100 women across Nigeria. The programme complements the Bank’s ongoing sponsorship of a free prostate cancer screening exercise for 250 men aged 40 years and above nationwide.

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    The prostate cancer screening is currently taking place at the Men’s Clinic, located at 18 Commercial Avenue, Sabo, Yaba, Lagos, offering accessible and professional medical support to men seeking early diagnosis and preventive care.

    Both health interventions align directly with the United Nations Sustainable Development Goals (SDGs), notably SDG 3 (Good Health and Well-being) through improved access to preventive healthcare; SDG 5 (Gender Equality) by prioritising women’s health; and SDG 17 (Partnerships for the Goals) through strategic collaboration with civil society organisations such as C.O.P.E.

    To deepen impact, Polaris Bank will deploy educational materials, community engagement activities and digital awareness campaigns focused on early detection, healthy lifestyle choices and the importance of routine medical check-ups.

    Speaking on the initiative, the Group Head, Brand Management & Corporate Communications, Rasheed Bolarinwa, stressed that early detection remains one of the most effective strategies in combating cancer.

    He noted that by removing financial barriers and bringing screening services closer to communities, the Bank is empowering individuals with the knowledge and resources needed to seek timely medical intervention. The flagship breast cancer screening event is scheduled on the 21st at the C.O.P.E Centre, in Lagos.

    The exercise will be conducted by trained health professionals and volunteers, providing participants with screening services alongside education on cancer prevention, self-examination and follow-up care.

    Participation in the free breast cancer screening programme is open to women who are Polaris Bank account holders, subject to pre-registration and selection based on early and confirmed submissions. Eligible participants are encouraged to register via the official link provided by the Bank.

    While the breast cancer screening targets women, Polaris Bank has urged men to support the health of their families by encouraging their wives, daughters and female relatives to participate.

    Men aged 40 years and above are also encouraged to take advantage of the ongoing free prostate cancer screening at the Men’s Clinic in Sabo, Yaba, Lagos.

  • London property market challenges Nigerians

    London property market challenges Nigerians

    Foreign investors, particularly Nigerians, are navigating new financial pressures in London’s recovering property market, according to a real estate expert.

    After experiencing stagnation in recent years, the London property market has seen modest growth of about 2–3 per cent over the past 12 months, signalling a return to stability—but also presenting fresh challenges for buyers.

    London-based realtor and founder of Onyx Property Team, Ugo Arinzeh, noted that while the market is stabilizing, offshore investors must prepare for unique costs, market complexities, and strategic decisions that could significantly impact returns.

    “As of the fourth quarter of 2025, the average London property sold for roughly £659, 000. This reflects a 2.3 per cent price increase over the past year, marking a notable improvement from previous stagnation,” Arinze said.

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    Rental prices also continue to rise. The average monthly rent in London reached approximately £2,227 at the end of 2025, compared with the UK national average of £1,375. Office for National Statistics data shows that private rents across the UK increased by 6.7 percent in the 12 months to June 2025, with London rents rising by 7.3 percent to an average of £2,252 per month.

    However, data from Zoopla indicates slower growth for newly-let properties in London, at just 2.8 percent in the year to April 2025. In the prime and upper-end markets, rental growth stood at 1.6 percent in Q1 2025, demonstrating significant variation across price segments.

    For Nigerian and other offshore investors, these trends suggest that build-to-let properties currently offer some of the best potential for yield. Understanding the nuances of price growth, rental performance, and property location will be crucial for making profitable investment decisions in the London real estate market.

  • OPay wins Fintech/Digital Bank of the Year 2025 award

    OPay wins Fintech/Digital Bank of the Year 2025 award

    Fintech bank, OPay, has been named Fintech/Digital Bank of the Year 2025.

    The company won the award at The Sun Awards, organised by The Sun Publishing Limited, one of Nigeria’s respected media institutions, on January 31 at Eko Hotels and Suites, Victoria Island, Lagos.

    The award marked a historic milestone, being the first time the category had been introduced since the awards began. The recognition celebrates OPay’s role in building a reliable, inclusive, and easy-to-use digital financial platform that supports millions of Nigerians every day.

    The award recognises OPay’s integrated platform, which brings together mobile banking, digital wallets, fast payments, merchant services, and lifestyle solutions in one place.

    Through this approach, OPay continues to bridge the gap between traditional banking and the digital economy, making financial services more convenient and accessible for individuals and businesses across Nigeria.

    For many users, OPay is more than an app; it is a trusted partner for daily life.

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    From sending money instantly to supporting small merchants with seamless payment solutions, OPay’s technology is designed to solve real problems and support economic activity at every level.

    The COO/CTO of OPay, Adekunle Adedotun, said: “This recognition is a welcome development. The Sun has stood out as one of the shining beacons of journalism, and we are pleased to receive the award. This is an incentive to do more. We’re committed to being user-friendly and innovative. We desire to see banking services get to every nook and cranny; whether you use Android or Apple, we want to make sure you’re financially included.”

    Speaking also on the recognition, OPay’s Chief Commercial Officer Elizabeth Wang said: “This award is a strong validation of our long-term commitment to Nigeria. Being

    recognised in the first-ever Fintech/Digital Bank category by The Sun is not just an honour for OPay, but a recognition of the trust millions of Nigerians place in us every day. We remain focused on building secure, reliable, and inclusive financial solutions that make life easier for individuals and help businesses grow.”

    The company stressed that the award reflected years of consistent investment in secure infrastructure, customer experience, and local partnerships.

    OPay emphasised that trust, reliability, and scale remain central to its mission to support Nigeria’s growing digital economy.

  • African Energy Bank begins operations Q2

    African Energy Bank begins operations Q2

    The African Energy Bank, a financial institution designed to mobilise capital for Africa’s energy priorities and strengthen the continent’s energy value chains, is set to commence operations in June.

    This was made known by the President, African Petroleum Producers’ Organization (APPO), Mamadou Sangafowa-Coulibaly, at the handover ceremony of the headquarters building of the African Energy Bank in Abuja by the federal government.

    Coulibaly, who spoke at the ceremony on the sidelines of the Nigeria International Energy Summit (NIES) in Abuja, commended Nigeria’s leadership in driving the initiative.

    He expressed appreciation to partners for providing the headquarters facilities, describing the Bank as a symbol of Africa’s resolve to finance, develop and secure its energy future by Africans, for Africans.

    The African Energy Bank is a joint initiative of APPO member states and the African Export-Import Bank (Afreximbank), with a mandate to mobilise domestic and regional capital for energy infrastructure, reduce dependence on external financing, and align investments with Africa’s long-term development and industrialisation objectives.

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    The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, during the ceremony said Nigeria had fulfilled all its obligations as host, noting that the headquarters is strategically located, fully equipped and ready for immediate take-off.

    He described the African Energy Bank as more than a financial institution, but a cornerstone of Africa’s quest for economic independence and long-term energy security, marking the beginning of a new era in which Africans finance, produce and sustain their own energy future.

    The ceremony reflected a shared African commitment to taking greater ownership of the continent’s vast natural resources, with speakers highlighting that the Bank will deploy targeted financial instruments to support projects across the energy value chain — including exploration, refining, renewable energy integration and local content development — to drive economic value and job creation.

    The African Energy Bank is a pan-African institution jointly established by APPO member states and Afreximbank, aimed at strengthening regional energy markets, boosting value addition and supporting sustainable development through improved access to capital.

  • Mishra is CEO UBA UK

    Mishra is CEO UBA UK

    United Bank for Africa (UBA) has announced the appointment of Loknath Mishra as Chief Executive Officer (CEO) of UBA UK.

    The appointment which takes effect from February 2, reinforces the Group’s commitment to strengthening its international footprint and enhancing its role as a key financial bridge between Africa and the world.

    As CEO of UBA UK, Mishra will focus on positioning the UK subsidiary as a centre of excellence for regulatory compliance and customer service, strengthening financial resilience through diversified liquidity and income sources, as well as deepening UBA’s leadership in trade, transaction, and correspondent banking in support of business flows in and out of Africa.

    He brings with him several decades of international banking experience across retail, corporate, investment and transaction banking, with a distinguished track record of building and leading regulated banking platforms in the United Kingdom and Europe.

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     Before joining UBA UK, Mishra served as Managing Director and Chief Executive Officer of ICICI Bank UK, where he played a central role in strengthening the bank’s presence across the UK and European markets, while significantly enhancing governance, regulatory engagement, and operational resilience.

    He also held other senior leadership roles at ICICI Bank Limited, including Group Head of Wholesale Banking and Global Head of Transaction Banking, contributing to the expansion of the bank’s global wholesale franchise, strengthening risk management frameworks, and leading customer-centric transformation initiatives across corporate, institutional and financial institution segments.

    Mishra is widely recognised for his leadership in complex regulatory environments and for driving digital innovation across trade finance, cash management and retail banking, and in recognition of his contribution to financial services, he was conferred with the Freedom of the City of London.

    Commenting on the appointment, UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, said: “Loknath brings an exceptional combination of global banking experience, regulatory credibility and deep expertise in wholesale and transaction banking. His leadership will be instrumental in advancing UBA UK’s role as a flagship subsidiary for the Group and in strengthening our capacity to support trade and investment flows between Africa and international markets.”

    Alawuba explained that the appointment underscores UBA’s continued investment in building a world-class international banking franchise that supports Africa’s economic integration into the global economy.

    On his part, Mishra who expressed delight over his appointment, said, “I am honoured to join UBA at a time of significant opportunity for the Group. UBA’s unique role in connecting Africa to global markets is both compelling and strategically important. I look forward to working with colleagues across the Group to strengthen UBA UK’s platform and to support clients in unlocking growth across Africa and beyond.”

    UBA UK plays a critical role within UBA Group’s international network, supporting African corporates, financial institutions, sovereigns and global partners through its strong capabilities in correspondent banking, trade finance, transaction banking and treasury services.

  • Crystal Finance celebrates 10th anniversary

    Crystal Finance celebrates 10th anniversary

    The Anthonia Hall by Civic Centre came alive as notable personalities, customers, and staff members of Crystal Finance Company, a specialized financial institution offering Credit, Funds Management, and Financial Advisory services, gathered to celebrate the 10th anniversary of the company, an evening dedicated to honouring staff and foundational clients for their loyalty.

    The event, held last weekend , recognized clients and staff whose loyalty, commitment, and outstanding performance have continued to drive the company’s growth.

    Guests were welcomed by a creatively designed entrance inspired by the company’s brand colours, along with contemporary music from the DJ, while the event came alive through the quality delivery of the compere.

    Delivering his opening remarks, the Chairman of Crystal Finance Company, Uyi Oronsaye, reminisced on the journey and the growth that have accompanied the company amidst different challenges.

     Oronsaye, who could not hide his excitement, stressed that the company has witnessed steady growth, primarily driven by its professional posture and transparent, reliable service delivery, which have helped it earn the confidence of customers and other stakeholders. 

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    He explained that the milestone celebration offered an opportunity to recognize the people behind the journey, particularly the commitment of management, the diligence of staff, and the support of partners who have all played a vital role in shaping the company to date.

     Oronsaye concluded by stating that “while the next decade and future of the finance industry would experience a cataclysmic shift, what remains constant is the responsibility of the Board and Management to uphold sound judgment, strong governance, and preserve the trust carefully built over time.

    Also speaking, the Managing Director, Crystal Finance, Imhoudu Mamudu, described the past decade of running the institution as a journey of discipline, learning, and responsibility.

    He said, “Setting out about 10 years ago, the company decided to do things differently and break away from the stereotype that the sub-sector was being ascribed. We spent about 6 months training our staff, building the systems, and testing our assumptions. We prioritized governance and risk management over scaling and rapid growth. Growth was important, but we wanted it to be sustainable.”

    The Managing Director also spoke on some of the impact the company has made over the years, particularly in the area of Corporate Social Responsibility.

     He said the company’s CSR projects are structured around promoting education and preserving the environment. To support these courses, the company has empowered several schools through donations of reading and writing materials, classroom refurbishment, scholarships, and cash awards to indigent students.

    He said the company went a notch further in 2024, when it launched an initiative to build and grow students’ entrepreneurial spirit, so they can learn to develop and grow businesses rather than depend solely on finding jobs after graduation. The pilot scheme was launched with the University of Lagos and plans to extend the initiative to other tertiary institutions within its area of operation.

    In championing a sustainable environment, the Managing Director disclosed that the company has designed products specifically to finance recycling and waste management.

    He also informed the audience that the company is a strong advocate of financial inclusion and gender equality in the consumption of financial products.

    To this end, the company has developed products tailored specially to its female clients.

    He expressed pride in the company’s growth over the last 10 years, particularly in the quality of its staff, which once made it a fertile ground for staff poaching.

    Expressing his sincere appreciation to past and present staff, clients, and partners for their commitment and guidance over the years, he said the milestone presents the company with a springboard into the future, which it looks forward to with great optimism.

    The Managing Director said the company was prepared to evolve with the times, but it would not lose its essence and character in the process. He said the objective remains clear—to build an institution that endures.

    At the event, members of staff and clients who supported the company right from inception were recognised and rewarded.

    Among the award categories are the Foundational Clients Award, Long Service Award, Exceptional Contribution Award, Outstanding Performance Award, and Rising Star Award.

    Crystal Finance is a financial institution known for offering tailored financial solutions that empower Small and Medium Enterprises (SMEs).

  • Ogun at 50: Gratitude for the journey, questions for conscience

    Ogun at 50: Gratitude for the journey, questions for conscience

    By Toyin Amuzu

    At 50, reflection becomes inevitable. Fifty is a sacred age, an age that demands gratitude, honesty and renewed purpose. As Ogun State marks its Golden Jubilee, I write not only as a citizen, but as an Egba chief, deeply rooted in the history, culture and destiny of this land and as a political stakeholder.

    Ogun State, as we know, was created on February 3, 1976. That decision was not accidental. It was borne out of foresight, an understanding of our people’s capacity for leadership, education, enterprise and civilisation. From the beginning, Ogun was destined to stand tall and that explains its appellation as “Gateway” State for many civilisation.

    Thank God for the journey so far

    First, we must give thanks to God. Fifty years of existence is no small grace. Through military rule, democratic transitions, economic recessions and national uncertainties, Ogun State has endured. Peace has prevailed. Our identity has remained intact. Our people have continued to excel in Nigeria and beyond. This is worthy of thanksgiving. From Egba land to Ijebu, from Yewa to Remo, the people have distinguished themselves in academics, law, medicine, business, arts, politics and public service. Ogun is a major contributor to Nigeria’s human capital and this cannot be denied.

    Honouring our founding fathers

    As we celebrate, we must honour our founding fathers, leaders who laid the foundations of this state with courage and conviction. They envisioned an Ogun State built on education and enlightenment, industrial growth and productivity, cultural pride and discipline, order, responsibility and service. They inherited ideals of the old Western Region and sought to build a state where governance would translate into opportunity. Their sacrifices, though imperfect, were purposeful. History must record them with honour.

    Are we proud of where we are?

    Yet, anniversaries are not only for celebration, they are for truth. At 50, Ogun State must ask itself this question, are we where we ought to be?

    With our strategic location as the gateway between Lagos and the rest of Nigeria, with our vast landmass, educated population and early exposure to quality governance, Ogun should arguably be among the most developed states. If, over the years, our focus had been more firmly anchored on development, driven by sincerity and guided by clear purpose, our story might have been stronger, our impact deeper and our people better served.

    Too often, governance has suffered from discontinuity. Too often, politics has overshadowed policy. Too often, long-term development has been sacrificed on the altar of short-term interests.

    These are not words of bitterness, they are words of concern, spoken in love for Ogun.

    Cost of missed opportunities

    The consequences of missed opportunities are evident. Communities still yearning for durable infrastructure, Young people whose potential is greater than the opportunities available to them, insecurity, public institutions that could perform better with stronger systems and continuity.

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    A development pace that has not always matched Ogun’s natural advantages

    Ogun’s challenge has never been lack of capacity, it has been lack of sustained focus.

    Still a land of promise

    Despite everything, Ogun remains a land of promise. Its people are resilient. Its culture is rich. Its location is strategic. Its potential is unquestionable.

    Some past governance in the state show that when leadership aligns vision with action, Ogun responds positively.

    This tells us one thing clearly, the future can still be greater than the past.

    The call at 50

    As Ogun turns 50, this is a moment for renewal. We must recommit to governance anchored on the people, development that outlives administrations, leadership driven by sincerity and service, politics that serves progress, not personal ambition.

    As a chieftain of Peoples’ Democratic Party, I believe in democratic governance that prioritises inclusion, accountability and development. Ogun deserves leadership across party lines that sees governance as stewardship and legacy, not entitlement.

    Conclusion

    Ogun at 50 is not just a celebration of age, it is a call to conscience. We thank God for the journey. We honour our founding fathers. We acknowledge our achievements. But we must also confront our shortcomings. The best chapters of our story should not lie behind us. With renewed focus, sincerity and purpose, the next 50 years can reflect the greatness that our founders envisioned. Ogun State can still become all it was meant to be.

    Amuzu,  a PDP chieftain , writes from Abeokuta, Ogun State