Category: Featured

  • How PDP governors settled for Turaki as consensus candidate

    How PDP governors settled for Turaki as consensus candidate

    Peoples Democratic Party (PDP) governors and a section of the National Working Committee (NWC) picked former Special Duties Minister Kabiru Tanimu Turaki as consensus national chairman to checkmate party chieftains rooting for election, it was learnt yesterday.

    Three governors -Bala Mohammed (Bauchi State), Seyi Makinde (Oyo) and Ahmadu Fintiri (Adamawa) – led the consensus campaign, a party source said.

    While the three governors also rallied support for a chairman from the Northwest, Makinde also pushed for the selection of his ally and former deputy governor of Oyo State, Taofeek Arapaja, as National Secretary.

    However, since Turaki was announced as consensus candidate, pro-Wike forces, the Northcentral Caucus of the party, Turaki’s home state Kebbi State executive and former Jigawa State Governor Sule Lamido have kicked against the move.

    During his media chat at the weekend, Federal Capital Territory (FCT) Minister Nyesom Wike faulted Fintiri for announcing a consensus candidate without wider consultation with party stakeholders.

    The party stalwarts from the Northcentral complained that the next chairman should have been appointed from the zone to replace the former chairman, Dr. Iyorchia Ayu.

    The Southeast House of Representatives Caucus has also threatened to boycot the convention scheduled for Ibadan, Oyo State capital, on November 15 and 16 if the Women Leader is not zoned to the region.

    A party source said Northwest leaders, including Lamido, who is a contestant for chairman, has insisted on an elective primary.

    He has also indicated his readiness to contest, the consensus announcement notwithstanding, the source added.

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    Those aspiring for positions in the NWC are expected to appear before a13-man Screening Committee set up by the Convention Committee tomorrow in Abuja.

    Headed by Eyitayo Jegede (SAN), other members of the panel are Asue Ighodalo (Secretary), Prince Olagunsoye Oyinlola, Chief Aduke Marina, Josephine Amenities, Inna Ciroma, Zainab Marina, Mohammed Diri, Jacob Otorkoa, Emmaus Enoidem, Achike Udenwa, Felix Hassan Hyatt, and Chinedun Nwachulwu.

    A source, who attended the meeting where Turaki was selected as the consensus candidate, said three aspirants indicated their intention to contest.

    He said: “At the meeting, the governors asked those interested in the chairmanship position to indicate by raising their hands. Turaki and Senator Ibrahim Shekarau indicated their interest, while Senator Ahmed Makarfi told the meeting that Sule Lamido was interested in contesting the position, but was absent at the meeting.

    “The governors asked them to go out and discuss among themselves and come back with their resolution. Makarfi was asked to represent Sule Lamido. We all know that Makarfi was interested, but he did not indicate probably because he knew it will be difficult for him to get the position.

    “When they returned, Shekarau said he will stand by whatever decision the governors arrived at, especially if they settled for Turaki. Turaki said if the governors choose Shakarau, he will abide by the decision.

    “They told the meeting that Lamido has insisted that no matter the decision arrived at, he was going ahead to contest the chairmanship. He claimed that he was asked to contest the position by the northern elders.

    “After that, the governors met to deliberate and settled for Turaki. But Lamido has insisted that he will go ahead to contest, which is his right to do. But we all know that you need the governors to win and they are not comfortable with Lamido.

    “The governors don’t want a man that will not respect them and that will tell them that whatever they are today, he has been there. They don’t want a man that will not answer them anytime they call. That is why they did not settle for Lamido.”

    The source added:  “When the governors settled for Turaki and announced it to the meeting, they called for desenting voices by asking those who are not at peace with the decision to say their mind. But nobody said anything.

    “All those who are shouting now were at that meeting. The chairman of the PDP in Sokoto was at the meeting. He did not object and did not say anything. It was after they left the meeting that they started making noise. Sule Lamido’s people are making noise. He has gone to meet them and told him that they cannot select him because he will feel greater than all of them.”

    However, a chieftain from the Northwest, Alhaji Umar Sani, said those opposed to the choice of Turaki are those bent on destabilizing the party for selfish and person gains.

    Sani, who is a former spokesperson to former Vice President Namadi Sambo, described the meeting of the some Northwest leaders as a charade

    He said: “The recent adoption of Kabiru Tanimu Turaki, SAN by the Northern Governors and key PDP stakeholders has unsettled a small but taciturn group of Northwest loyalists aligned with a southern politician hell bent on destabilizing the party.

    “Led by the party’s National Organizing Secretary, Capt. Umar Bature, these dissenters from Kebbi, Sokoto, and Jigawa States are protesting the choice, arguing that since the chairmanship of the PDP has been zoned to the Northwest, only the zone itself should determine the nominee.

    “This argument, however, is both historically and politically hollow. The chairman of a major political party is not merely a regional representative, but that of the whole federation.

    “He is the engine room and rallying point of the entire political organization. His emergence cannot and has never been an exclusive regional affair. From Solomon Lar to Barnabas Gemade, Vincent Ogbulafor, Audu Ogbe, Ahmadu Ali, Okwesilieze Nwodo, Bamanga Tukur, and Adamu Mu’azu, party chairmen have always been products of broader consultations and the influence of powerful blocs within the PDP.

    “Indeed, most chairmen were hand-picked or endorsed by sitting Presidents or leading power brokers within the party. Solomon Lar’s one-year protem tenure was an exception. He was chosen to set the ball rolling and put the party on a sound footing.

    “Sen Ali Modu Sheriff, for example, was chosen to complete the Northeast tenure after the resignation of Adamu Muazu, through the intervention of Wike and Fayose. The Sen Ahmed Makarfi-led caretaker committee was the brainchild of Babangida Aliyu and former Governor Sule Lamido of Jigawa State in Port Harcourt.

    “Prince Uche Secondus emerged through Wike’s backing, just as Sen Iyorchia Ayu was a joint product of Wike and Samuel Ortom. History, therefore, proves that party leaders and governors will always show interest in who leads them.

    “Adamawa State Governor Ahmadu Umaru Fintiri rightly reaffirmed the well-established PDP tradition by declaring that any dissatisfied aspirants are free to contest the position, an open and democratic invitation.

    “Ironically, Capt. Umar Bature himself became National Organizing Secretary through a unilateral nomination by Sen Aminu Waziri Tambuwal. For him now to lead a rebellion against the collective will of the governors is a clear act and a demonstration of insubordination and ingratitude.

    “His alliance with an erstwhile Kebbi PDP governorship candidate and a few handpicked PDP sympathizers from Sokoto and Jigawa states only exposes a desperate attempt to give false legitimacy to an unpopular stance. The Northwest cannot arrogate to itself the exclusive right to nominate the next PDP National Chairman when the position affects the whole country and the unity and functionality of the party nationwide.

    “The choice of Kabiru Tanimu Turaki SAN reflects a deliberate and strategic consensus anchored on competence, character, and capacity to stabilize the PDP in turbulent times. Those who oppose such a choice for personal gain betray the collective interest of the party. The governors’ decision is steeped in wisdom and foresight, and any genuine lover of the PDP committed to the unity, stability, peace, and progress of the party should stand by it.

    “In the end, the so-called Northwest meeting is nothing more than a charade of misplaced entitlement, a political tantrum by those who mistake selfish ambition for regional interest and arrogate to themselves powers they do not have.”

    Following the PDP National Executive Committee (NEC) meeting held on August 25 in Abuja, the party resolved to zone the 2027 presidential ticket to the South and the National Chairman to the North.

    Subsequently, northern leaders micro-zoned the chairmanship slot to the Northwest, producing three frontrunners: Makarfi, Lamido and Turaki (former Minister).

    Wike: There is need for consultation

    Wike said any push for consensus without wider consultation would not stand.

    He said: “I don’t know about Tanimu Turaki becoming chairman; maybe he becomes chairman for another faction — it’s not the PDP I know.”

    Northcentral frowns

    A chieftain from Nassarawa State, Chief Mike Omeri, former Director-General of the National Orientation Agency (NOA), said it is unfair that Ayu’s successor is being picked from the Northwest.

    Also, a chieftain from Kogi State,  Shaba Ibrahim, who represented Lokoja/Kotonkarfe  Constituency in the House of Representatives from 2019 to 2021said Northcentral has not been treated fairly.

    He said: “For sure, many are not happy. We feel shortchanged.”

    Also, a group, ‘PDP Strategic Stakeholders of the Northcentral Geo-political Zone,” said the decision to exclusive the zone could lead to crisis. 

    It described the exclusion “an act of insensitivity and manipulation” that disregards the constitutional rights and political equities of their zone.

    According to the group, “by the PDP constitution, Ayu’s replacement ought to have come from his same geo-political zone, a convention the party failed to honour, leading to Ambassador Umar Damagum from the Northeast assuming the role of Acting National Chairman in clear breach of internal equity.

    It added: “This is pure power hijacking that comes with far-reaching consequences,” the statement said. “Nobody is talking about it in the PDP, yet everybody expects peace and stability within the party.”

  • UPDATED: Why we’re expanding refinery to 1.4m Barrels daily — Dangote

    UPDATED: Why we’re expanding refinery to 1.4m Barrels daily — Dangote

    President of Dangote Industries Limited, Aliko Dangote, has explained that the decision to expand the Dangote Petroleum Refinery from 650,000 barrels per day (bpd) to 1.4 million bpd is driven by emerging opportunities across Africa, growing regional demand for cleaner fuels, and Nigeria’s evolving policy environment that encourages local refining.

    Speaking at a media briefing in Lagos, Dangote said the $20 billion facility, already the largest single-train refinery in the world will more than double its capacity within the next three years, making it a global leader in petroleum refining and a major driver of Africa’s industrial renaissance.

    “This expansion reflects our confidence in Nigeria’s future, our belief in Africa’s potential, and our commitment to building energy independence for our continent and the world. It also is about confidence in Nigeria, in Africa, and in our capacity to shape our own energy future,” Dangote said.

    “It is the dream of President Bola Ahmed Tinubu GCFR, for Nigeria to emerge as one of the major suppliers of petroleum products in the world. And with his strong backing through his policies, we are taking on the challenge to make this happen”

    According to him, the expansion reflects the group’s belief in Africa’s potential to achieve energy security and transform its economy from being an exporter of raw crude to a hub for refined petroleum products.

    Dangote revealed that the expansion project would be executed over the next three years and would be financed through a mix of cash flow, public listing and strategic investors.

    READ ALSO: Over $50bn in Crypto transactions passed through Nigeria in one year-SEC

    When completed, the refinery will surpass India’s Jamnagar Refinery, currently the world’s largest facility, cementing Nigeria’s position as a global refining hub.

    He said the refinery will also expand its polypropylene production capacity from 900,000 metric tonnes to 2.4 million metric tonnes per annum, further boosting the output of linear alkylbenzene, a key ingredient in detergent manufacturing, along with additional production of base oils.

    “With this expansion, the refinery transitions from producing Euro V to Euro VI fuel standards, meeting the highest global environmental benchmarks,” he said.

    “We will also expand our power generation capacity to 1,000 megawatts, ensuring complete operational self-sufficiency.

    ‘”More than 85% of our workforce will be Nigerians, with continuous investment in skills development and technology transfer. Our commitment to safety, sustainability, and local participation remains unwavering throughout every phase of the expansion.”

    Highlighting the economic impact of the project, Dangote said the expansion would further strengthen Nigeria’s energy security, reduce foreign exchange outflows, and save the country billions of dollars annually that would otherwise go into importing refined products.

    He estimated that the refinery’s revenue could exceed $55 billion annually, making it one of the most valuable industrial assets on the African continent.

  • UPDATED: Dangote Refinery for listing on Nigerian Stock Exchange

    UPDATED: Dangote Refinery for listing on Nigerian Stock Exchange

    The President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has announced plans to list the Dangote Petroleum Refinery on the Nigerian Stock Exchange (NGX) in 2026.

    Speaking at a press conference in Lagos on Sunday, Dangote said the decision to list the refinery is aimed at enabling ordinary Nigerians to own a stake in the company and share in the benefits of its success.

    “That’s a step towards broader ownership and market transparency. We want to give all Nigerians the opportunity of owning parts of the refinery.

    READ ALSO: Over $50bn in Crypto transactions passed through Nigeria in one year-SEC

    “You can buy as many shares as you can. Therefore, we are making sure that this refinery belongs to all Nigerians. 

    “I think it’s right time to put in your savings and join us in this journey,” he said.

  • BREAKING: Dangote Refinery eyes daily production of 1.4 m barrels

    BREAKING: Dangote Refinery eyes daily production of 1.4 m barrels

    The President and Chief Executive Officer of the Dangote Group, Aliko Dangote, has announced plans to expand the capacity of the Dangote Petroleum Refinery from 650,000 barrels per day (bpd) to 1.4 million bpd.

    Speaking at a world press conference, Dangote said the expansion project is aimed at strengthening Nigeria’s energy infrastructure and positioning the nation as a global leader in petroleum refining.

    With this development, the Dangote Refinery is set to become the largest refinery in the world, surpassing India’s Jamnagar Refinery, which has a capacity of about 1.36 million barrels per day.

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    According to Dangote, the move aligns with President Bola Ahmed Tinubu’s vision for Nigeria to emerge as a top producer and exporter of refined petroleum products.

    “Our goal is to build world-class infrastructure that not only meets Nigeria’s energy needs but also transforms the country into a major player in the global energy market,” Dangote said.

    He added that the expansion reflects commitment to supporting the government’s efforts to achieve energy security and drive industrial growth across Africa.

  • BREAKING: Dangote Refinery for listing on Nigerian Stock Exchange

    BREAKING: Dangote Refinery for listing on Nigerian Stock Exchange

    The President and Chief Executive Officer of Dangote Industries Limited, Alhaji Aliko Dangote, has announced plans to list the Dangote Petroleum Refinery on the Nigerian Stock Exchange (NGX).

    Speaking at a world press conference, Dangote said the decision to list the refinery is aimed at enabling ordinary Nigerians to own a stake in the company and share in the benefits of its success.

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    “This move will allow every Nigerian, regardless of status, to become a part-owner of the refinery and benefit from its long-term value,” Dangote said.

    Details shortly…

  • NDLEA raids Lagos nightclub, arrests Pretty Mike, others over drug party

    NDLEA raids Lagos nightclub, arrests Pretty Mike, others over drug party

    The National Drug Law Enforcement Agency (NDLEA) has raided Proxy Night Club in Victoria Island, Lagos, arresting over 100 persons, including popular socialite Mike Eze Nwalie Nwogu, better known as Pretty Mike, during a drug party in the early hours of Sunday.

    Director, Media and Advocacy, NDLEA Headquarters, Femi Babafemi, who made this known in a statement on Sunday, said the raid followed credible intelligence about a planned drug party at the club, located at 7 Akin Adesola Street, Victoria Island

    He said NDLEA operatives infiltrated the event around 11 p.m. on Saturday, October 25, and disrupted the gathering at about 3 a.m., acting on standard operating procedures.

    Cartons of illicit substances, including Loud (a potent strain of cannabis) and nitrous oxide (commonly known as laughing gas), were recovered from the club’s store and from suspects at the venue. All the individuals arrested are currently being profiled and screened in custody.

    In a separate operation, NDLEA operatives at the Murtala Muhammed International Airport (MMIA), Ikeja, Lagos, uncovered 70 parcels of cocaine weighing 3.6 kilograms, concealed in body cream containers and destined for the United Kingdom, he said.  

    The consignment, disguised as personal effects and bound for London aboard an Air Peace flight on October 14, was presented for export by a cargo agent, Lawal Mustapha Olakunle, who was promptly arrested, the statement indicated. 

    Further investigations led to the arrest of Ogunmuyide Taiwo Deborah, a healthcare worker, and Mutiu Adebayo Adebiyi, Chief Executive Officer of Mutiu Adebiyi and Co Travel Agency, who were both linked to the drug shipment.

    Babafemi also said NDLEA operatives at the Akanu Ibiam International Airport (AIIA), Enugu, intercepted a 35-year-old Lesotho national, Lemena Mark, attempting to export 103.59 grams of methamphetamine concealed in a diabetic coffee-tea pack to the Philippines via Ethiopian Airlines on October 22.

    In Kwara State, the agency arrested Umar Abubakar, 40, at Bode Saadu, Moro Local Government Area, after discovering 21,950 capsules of Tramadol 250mg hidden inside a 100-litre water heater on October 21.

    The agency also made multiple arrests in other states. In Taraba, Auwal Musa, 26, and Salihu Bala, 22, were arrested at the Dan-Anacha checkpoint with 450,000 pills of Tramadol and Exol-5, while transporting the drugs from Onitsha, Anambra State, to Mubi, Adamawa State.

    NDLEA patrols along the Okene–Lokoja highway in Kogi State seized 162.2 kilograms of skunk on October 24, and another 128 kilograms were recovered from Abubakar Muhammad, 55, in Keffi, Nasarawa State, two days earlier, the statement disclosed. 

    In Lagos, a mother of two, Oyonumoh Glory Effiong, was arrested at her Lekki residence on October 17 with 500 grams of Canadian and California Loud, which she distributed to clients across Lekki, Ajah, Ikoyi, Victoria Island, and VGC. Another suspect, Ogunyabo Adenigbigbe, was arrested at Solomade Estate, Ikorodu, where operatives recovered 275 litres of “skuchies”, a psychoactive mixture made from blackcurrant drink, cannabis, and opioids.

    In Abia State, a 75-year-old man, Echendu Onuoka, was arrested at Ovum village, Obingwa LGA, with 4.7 kilograms of skunk, while a 60-year-old woman, Aukana John, was caught with 225 grams of the same substance at Apanta village.

    Further operations led to the seizure of 150 kilograms of skunk during a raid at Lot Camp, Ikun Akoko, Ondo State. In Kaduna, Bashir Mohammad, 50, and Samini Ahmed Tijjani, 35, were arrested with 234.5 kilograms of cannabis, while two others — Isah Usman, 50, and Salvation Okoler, 18 — were nabbed with 8,600 pills of Tramadol 225mg and Rohypnol along the Abuja–Kaduna highway.

    The statement indicated that at the Seme border, Jacob Ojugbele was arrested with 55 kilograms of skunk at Ashipa, Badagry, while Amusa Oluwabukola was caught with 121.3 litres of skuchies at Itoga, Badagry.

    In Zamfara State, NDLEA operatives on patrol along the Gummi–Anka road on October 20 arrested Abubakar Ibrahim, 30, with an AK-47 rifle and 1,746 rounds of ammunition meant for AK-47 and GPMG rifles. He was allegedly transporting the weapons from Sokoto to Bagega forest in Anka LGA. The suspect and the recovered items have been handed over to the appropriate security agency for further investigation, Babafemi said.

    Meanwhile, the agency’s War Against Drug Abuse (WADA) campaign continued nationwide, with sensitization programmes held in schools, religious institutions, and workplaces across Oyo, Kebbi, Enugu, Benue, Taraba, Rivers, and Kano States.

    Babafemi added that NDLEA Chairman/Chief Executive Officer, Brig. Gen. Mohamed Buba Marwa (Rtd), commended officers of the MMIA, AIIA, Lagos, Kwara, Abia, Nasarawa, Kogi, Ondo, Anambra, Taraba, Kaduna, Seme, and Zamfara Commands for their successful operations and urged them to sustain the agency’s balanced and robust approach to drug control across the country.

  • Southeast gets Senate, Reps nod for new state

    Southeast gets Senate, Reps nod for new state

    • Constitution Review Joint Committee okays independent candidacy
    • Recommends additional seat for women in Senate, House
    • Kalu: Additional state augurs well for justice and equity

    The quest for an additional state in the South East yesterday received a boost from the National Assembly Joint Committee on Constitution Review as members unanimously endorsed the request.

    The South East currently has five states, namely Abia, Anambra, Ebonyi, Enugu and Imo, which is one short of the six in each of the South-South, South West, North Central and North East, and two short of the seven in the North West.

    The committee’s endorsement came at a two-day retreat in Lagos, where it reviewed requests for 55 new states across the country.

    The session, chaired by Deputy Senate President Barau Jibrin and co-chaired by House of Representatives Deputy Speaker Benjamin Kalu, deliberated extensively on the matter.

    Senator Abdul Ningi (Bauchi Central) moved the motion for the creation of the new state with Representative Ibrahim Isiaka (Ifo/Ewekoro, Ogun State) seconding it.

    The motion received the unanimous support of committee members and was accordingly adopted.

    The joint committee constituted a subcommittee to consider the requests for the creation of additional states and local government areas across all six geopolitical zones.

     The committee is made up of one Senator and one Rep per state.

    The Nation gathered that the committee also approved independent candidates for all elections and one additional seat for women in each state for the Red and Green chambers of the National Assembly.

    Speaking at the retreat, DSP Jibrin urged members to rally support among their colleagues at the National Assembly and State Houses of Assembly to ensure the resolutions sail through during voting.

    “We need to strengthen what we have started so that all parts of the country will key into this process,” Jibrin said.

    “By the time we get to the actual voting, we should already have the buy-in of all stakeholders—from both chambers and the State Houses of Assembly.”

    Speaking at the opening of the retreat on Friday, Jibrin said the National Assembly had received a total of 55 requests for new states and 278 for additional local government areas (LGAs) nationwide.

    He asked lawmakers to focus on transmitting the first batch of amendments to the state Houses of Assembly before the end of the year, underlining the urgency of the process.

    “It has been a long journey to bring the Senate and the House of Representatives’ Constitution Amendment proposals that cut across several sections and deal with different subject matters,” he said.

    Jibrin highlighted that over the past two years, lawmakers had engaged constituents, civil society groups, institutions, and interest groups through town hall meetings, interactive sessions, and public hearings, culminating in 69 bills, 55 state creation requests, two boundary adjustments, and 278 local government creation requests.

    The committee is tasked with reviewing these proposals, resolving contentious issues, and making recommendations to both chambers. Jibrin expressed optimism that meaningful progress could be achieved during the retreat, even though the exercise was complex.

    He stressed the importance of patriotism and unity in the deliberations, urging participants to prioritise national interests over regional or political divides.

    “There should be no ‘we’ and ‘them’; we should be guided by the interests of Nigerians,” he said, calling for recommendations that meet the approval threshold outlined in Section 9 of the Constitution.

    Kalu and other lawmakers from the South East had said their request was anchored on principles of equity, justice and fairness.

    Senator Izunaso applauds committee’s action

    Reacting yesterday to the joint committee’s action, Senator Osita Izunaso (Imo West (Orlu) hailed it as a welcome development, which he said would boost the fortunes of the region and calm frayed nerves.

     “It’s a good thing. It’s something we have been expecting. It’s something we have been pushing for a long time, and I’m glad that the Joint Committee of the Senate and House of Representatives on the Constitution Amendment today (yesterday) approved that,” he told The Nation on the phone.

    He said the creation of the new state would bring a lot of benefits to the South East.

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    “For a start, the South East is the only region in the country that has five states. So this is not just one state for the Southeast; it’s just equality of state so that all the zones can have six states.

    “Regardless of the fact that one zone has seven. That is okay.

    “I’m glad about it. And it is something that will promote unity in the country, bring about more cohesion and more corporate action for the country. So I’m glad about it.”

    Enumerating the specific benefits of the proposed state, Izunaso said: “Southeast has only 15 senators. All the other zones have 18 and 21. If the Southeast has an additional state, they will also have 18 senators, have more seats in the House of Representatives, have more local government areas and more seats in the House of Assembly.

    “Even in terms of revenue, Southeast will get more revenue from the Federation. And a lot of other things will come to the region. So it is a win-win situation. It’s not anything that somebody shouldn’t be happy about.”

    He added that the development would also bring an end to agitations in the region.

    “Those people who are agitating for one thing or the other, if an additional state is given to the South East, what again will they be agitating for?”

    Asked how the decision was reached considering that the proposal had faced strong opposition before now, Senator Izunaso said: “Well, it was resolved because we had to appeal to the conscience of all the other people that were there.

    “There were a lot of other agitations. And we didn’t say no to other people who are agitating for states.

    “We didn’t say no because some places are having genuine agitations. But what we canvassed was, let us first of all equalize the number of states per geopolitical zone. Thereafter, every other zone that wants an additional state can be considered based on the merits.

    “And they are doing it. So it’s an open-ended thing. The South East having got this one, it doesn’t stop other states that have genuine agitation from getting it, including the South East again.

    “So it is just to appeal to the conscience of our people because what is fair is fair.

    “Today, President Tinubu has approved development commissions for all the six geo-political zones. So even if we are talking about regional government in one way or the other, then let us have equality of states within those regions. That’s what I’m saying.

    “And you know, when the military were creating these states, they didn’t have any sense of balancing. But in a democratic dispensation, we’re saying let there be fairness, let there be equality.

    “That’s the only thing that we agitated for. And our colleagues bought into it and approved it.”

    But he expressed concern over additional seats for women.

    His words: “Well, you know, to me, women have been agitating. They have looked at other climes and are agitating that additional seats be given to women, particularly in the parliament. So the advantage of it is that more women will be represented.

    “Today in the Senate, we have only about four women, which is less than 5% of the senators in the 10th Senate. So if we have additional women coming from this divide we’re talking about, it might even increase their number to 10% or more.

    “The most important thing is that we didn’t throw it out. We said, okay, we’ve accepted. But it’s still going back to the floor of the two chambers.

    “But the most important thing is that we have accepted to give them one seat at the geopolitical zone. But even how that would be achieved might still be a problem.

  • CBN lists benefits of Nigeria exiting FATF Grey List

    CBN lists benefits of Nigeria exiting FATF Grey List

    • NGF hails accomplishment

    The Nigeria Governors’ Forum (NGF) has expressed delight over the removal of Nigeria from the grey list of the Financial Action Task Force (FATF).

    NGF’s spokesman, Yunusa Abdullahi, in a statement on Saturday, quoted the forum’s Chairman and Kwara State Governor,  AbdulRahman AbdulRazaq as attributing the feat to the efforts of President Bola Tinubu, the 36 state governors and relevant institutions.

    He quoted the NGF Chairman as saying: “We are very pleased with this outcome and proud to see Nigeria formally welcomed back into the global transparency community.

    “Nigeria has handled this difficult situation with enormous grace and integrity and this green light attests to the trust and confidence in our financial systems and our leaders both at the national and sub-national levels.”

    Abdullahi noted that the development came after years of thorough investigation and review of Nigeria’s financial systems.

    He added: “This remarkable result was predicated on the diplomatic and political efforts of President Bola Ahmed Tinubu, governors of the 36 states of the federation, notable institutions like the Federal Ministry of Finance (FMF), Central Bank of Nigeria (CBN), Economic and Financial Crime Commission (EFCC) and the Nigeria Financial Intelligence Unit, (NFIU).”

     The NGF spokeswoman recalled that the country was placed on the FATF grey list after the global body found deficiencies in Nigeria’s efforts at fighting money laundering and terrorism financing.

    Abdullahi said: “Since then, through a combination of legislative reforms, institutional strengthening and enhanced inter-agency coordination, Nigeria has demonstrated sustained political will to achieve full compliance.

    “Within that period, key reforms have been achieved including operationalization of the beneficial ownership register, improving of corporate transparency and accountability.

    “Also, enhanced capacity of intelligence, law enforcement and regulatory agencies in detecting, analysing and prosecuting complex crimes has been achieved.

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    “Throughout this period, the NFIU, CBN, the NGF, representing the sub-national government, and Ministry of Finance availed FATF all the necessary support in providing information to all inquiries which led to this clearance.

    “The Nigeria Governors’ Forum, NGF is fully committed to maintaining the highest ethical financial standard in all its governance and will continue to uphold a culture of transparency, accountability and integrity,” he said.

    In a related development, the Chairman, House Committee on Financial Crimes, Rep. Ginger Onwusibe, has also commended the President Bola Tinubu-led administration and relevant institutions on Nigeria’s ‘historic’ exit from the FATF grey list.

    Onwusibe gave the commendation in a statement issued in Abuja, on Saturday, NAN reports. The lawmaker, who described the exit as a “national victory for integrity, resilience and inter-agency collaboration,” commended the Federal Government for its political will to address financial indiscipline in the country.

    “I commend the Nigerian Financial Intelligence Unit (NFIU), Economic and Financial Crimes Commission (EFCC), Independent Corrupt Practices and other Related Offences Commission (ICPC), Federal Inland Revenue Service (FIRS) and Central Bank of Nigeria (CBN),

    “I also commend the Corporate Affairs Commission (CAC), other law enforcement/regulatory agencies and the Federal Ministry of Justice for their dedication and cooperation throughout the reform process,” he said.

    According to the lawmaker, the feat is a product of years of hard work and synergy among the institutions.

    “It restores global confidence in Nigeria’s financial system and demonstrates that our country can meet the highest international standards of transparency and accountability,” he said.

    The lawmaker hailed the National Assembly for passing key reforms, including amendments to the Money Laundering (Prevention and Prohibition) Act, and others which had strengthened the country’s legal framework to combat money laundering.

     Onwusibe, who also commended his committee for the achievement through oversight functions on both NFIU and EFCC, urged stakeholders to sustain the momentum to ensure Nigeria never returned to the list.

    He reaffirmed the committee’s commitment to continuous legislative oversight and institutional support.

    Meanwhile, the Central Bank of Nigeria (CBN) has said Nigeria’s removal from the Financial Action Task Force (FATF)’s grey list will strengthen investor confidence, ease cross-border transactions and restore the country’s reputation as a credible financial jurisdiction.

    In a statement signed by its Acting Director, Corporate Communications Department, Hakama Sidi Ali, the CBN, on Saturday, said the delisting will lower the cost of correspondent banking and international transactions, facilitate smoother trade and investment flows, and make Nigeria more attractive to foreign investors and development partners.

    The CBN described the development as a significant milestone that will reduce perceived financial risk and support the nation’s broader efforts to deepen financial inclusion and economic growth.

    The bank added that Nigeria’s removal from the grey list will yield tangible benefits for businesses and households alike, lowering compliance costs, improving access to international finance, and making cross-border transactions faster and more affordable.

    Over time, these gains should translate into smoother trade settlements, quicker remittance inflows and more predictable access to foreign exchange, said the CBN, adding that the measures will enhance livelihoods, support enterprise growth and deepen financial inclusion.

    The CBN said it played a central role in the process by enhancing supervision, governance and transparency across the financial system.

    It explained that oversight of financial institutions was strengthened through updated anti-money laundering and counter-terrorism financing (AML/CFT) regulations, risk-based supervision and fit-and-proper assessments.

    The CBN Governor Olayemi Cardoso was quoted in the statement, praising the collective effort. “This is an important achievement for Nigeria’s financial system. Our strengthened AML/CFT framework and closer supervisory engagement with financial institutions have helped restore confidence internationally,” he said.

    He added that, “We remain committed to sustaining these reforms, deepening transparency, and working with domestic and international partners to prevent illicit financial flows and protect the integrity of our financial system.”

    In addition, compliance reporting and monitoring were also expanded across remittance channels, bureaux de change and fintech platforms to improve traceability and transparency.

    The bank enhanced inter-agency data-sharing and enforcement coordination between itself, the Nigerian Financial Intelligence Unit (NFIU), the Economic and Financial Crimes Commission (EFCC) and other law enforcement bodies.

    The CBN also implemented market governance tools, including the Foreign Exchange Code (FX Code) and the Electronic Foreign Exchange Matching System (EFEMS), which further improved the integrity and transparency of the financial markets.

    The bank said these measures were implemented alongside legal and operational reforms undertaken by other competent authorities and were crucial in addressing the strategic deficiencies identified by FATF and its regional body, the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA).

    The CBN credited coordinated action across government institutions for the successful outcome, commending the NFIU for leading technical engagement with FATF, law enforcement agencies for enforcement work, and the Office of the Attorney-General and the National Assembly for the legislative amendments that enabled compliance with FATF requirements.

     The bank said it would not relent after the delisting. “Sustaining compliance with global AML/CFT standards is a continuous process,” the statement said, adding that the CBN will continue to work closely with AML/CFT competent authorities to ensure that the gains are consolidated and that Nigeria avoids any future reclassification.

    The CBN also argued that the FATF decision reinforces a broader restoration of global confidence in Nigeria’s economic management. It pointed to recent international assessments that reflect improving external balances and credibility in policy execution, developments the Bank said are consistent with the momentum from the delisting.

    The statement identified the constructive credit outlook from major rating agencies and the International Monetary Fund’s 2025 Article IV findings, which noted improved reserve adequacy, greater transparency and a reform agenda increasingly aligned with global standards.

    The bank urged all financial institutions to remain diligent and to sustain high standards of compliance, corporate governance and internal controls so the country can fully reap the benefits of delisting.

    It stressed that improvements in correspondent banking relationships and reduced transaction frictions should translate into easier international trade payments and more predictable access to foreign financial services for exporters, importers and remitters.

  • Kessington Adebutu brokers Ooni, Alaafin truce

    Kessington Adebutu brokers Ooni, Alaafin truce

    • Joint council for Yoruba unity emerges

    What appeared to be a cold war between the two prominent Yoruba traditional rulers came to an end yesterday, with the intervention of a 90-year-old  renowned businessman and philanthropist, Kessington Adebutu.

      Before the intervention of Adebutu, on Friday, the two Yoruba traditional rulers, the Ooni of Ife, Adeyeye Ogunwusi, and the Alaafin of Oyo, Abimbola Owoade, were said to have engaged in a cold war.

    The rift therefore came to an end at the instance of Kessington Adebutu, the billionaire businessman better known as ‘Baba Ijebu’.

    The meeting was held at the Eko Hotel during Adebutu’s 90th birthday celebration.

    Read Also: Kessington Adebutu welcomes new members to club

    To show that the tiff had come to an end, both Ooni and Alaafin issued a joint communiqué after the meeting with Adebutu, and the two monarchs announcing the formation of a joint council for Yoruba unity — a platform aimed at promoting peace, cultural preservation, and socioeconomic growth across Yoruba communities.

    The  signing of the communiqué by the Ooni and Alaafin, was witnessed by Adebutu, and issued by Kola Oyefeso, secretary of the communiqué drafting committee.

    The meeting of the monarchs was described as a turning point in Yoruba history.

    “Today marks a defining chapter in our shared history,” the communiqué reads.

    “We reaffirm our dedication to promoting harmony among all Yoruba sons and daughters, and upholding the sacred values of mutual respect and brotherhood handed down by our ancestors.”

  • CBN lists benefits of Nigeria exiting FATF grey list

    CBN lists benefits of Nigeria exiting FATF grey list

    The Central Bank of Nigeria (CBN) said Nigeria’s removal from the Financial Action Task Force (FATF) grey list will strengthen investor confidence, ease cross-border transactions and restore the country’s reputation as a credible financial jurisdiction.

    In its statement by Mrs. Hakama Sidi Ali, Acting Director, Corporate Communications Department, CBN on Saturday, the Bank said the delisting will lower the cost of correspondent banking and international transactions, facilitate smoother trade and investment flows, and make Nigeria more attractive to foreign investors and development partners. 

    The CBN described the development as a significant milestone that will reduce perceived financial risk and support the nation’s broader efforts to deepen financial inclusion and economic growth.

    The Bank added that Nigeria’s removal from the grey list will yield tangible benefits for businesses and households alike — lowering compliance costs, improving access to international finance, and making cross-border transactions faster and more affordable. 

    Over time, the CBN said, these gains should translate into smoother trade settlements, quicker remittance inflows and more predictable access to foreign exchange — measures that will enhance livelihoods, support enterprise growth and deepen financial inclusion.

    The CBN said it played a central role in the process, noting that its contribution centred on enhancing supervision, governance and transparency across the financial system. 

    It explained that oversight of financial institutions was strengthened through updated anti-money laundering and counter-terrorism financing (AML/CFT) regulations, risk-based supervision and fit-and-proper assessments. 

    In addition, compliance reporting and monitoring were also expanded across remittance channels, bureaux de change and fintech platforms to improve traceability and transparency.

    Read Also: CBN, Bank of Angola partner to drive African economic, financial integration

    The Bank enhanced inter-agency data-sharing and enforcement coordination between itself, the Nigerian Financial Intelligence Unit (NFIU), the Economic and Financial Crimes Commission (EFCC) and other law enforcement bodies. The CBN also implemented market governance tools, including the Foreign Exchange Code (FX Code) and the Electronic Foreign Exchange Matching System (EFEMS), which further improved the integrity and transparency of the financial markets.

    The Bank said these measures were implemented alongside legal and operational reforms undertaken by other competent authorities and were crucial in addressing the strategic deficiencies identified by FATF and its regional body, the Inter-Governmental Action Group Against Money Laundering in West Africa (GIABA).

    CBN Governor Olayemi Cardoso was quoted in the statement as praising the collective effort. 

    “This is an important achievement for Nigeria’s financial system. Our strengthened AML/CFT framework and closer supervisory engagement with financial institutions have helped restore confidence internationally,” the Governor said. 

    He added: “We remain committed to sustaining these reforms, deepening transparency, and working with domestic and international partners to prevent illicit financial flows and protect the integrity of our financial system.”

    The CBN credited coordinated action across government institutions for the successful outcome, commending the NFIU for leading technical engagement with FATF, law enforcement agencies for enforcement work, and the Office of the Attorney-General and the National Assembly for the legislative amendments that enabled compliance with FATF requirements.

    The Bank said it would not relent after the delisting. “Sustaining compliance with global AML/CFT standards is a continuous process,” the statement said, adding that the CBN will continue to work closely with AML/CFT competent authorities to ensure that the gains are consolidated and that Nigeria avoids any future reclassification.

    The CBN also argued that the FATF decision reinforces a broader restoration of global confidence in Nigeria’s economic management. It pointed to recent international assessments that reflect improving external balances and credibility in policy execution — developments the Bank said are consistent with the momentum from the delisting. 

    The statement identified the constructive credit outlook from major rating agencies and the International Monetary Fund’s 2025 Article IV findings, which noted improved reserve adequacy, greater transparency and a reform agenda increasingly aligned with global standards.

    The Bank urged all financial institutions to remain diligent and to sustain high standards of compliance, corporate governance and internal controls so the country can fully reap the benefits of delisting. 

    It stressed that improvements in correspondent banking relationships and reduced transaction frictions should translate into easier international trade payments and more predictable access to foreign financial services for exporters, importers and remitters.