₦airaland Forum

Newgoodkk:
Don't mind that Man oooo , Church Business na hin he dey do..

gabbytabby:
1st paragraph bears no relationship to second paragraph

Fake news merchants and Troublemakers Ogododo.

Endemic Corruption: How gov’t officials paid for one hospital project 5 times – ICPC Chairman

The Chairman of the Independent Corrupt Practices and Other Related Offences Commission, Dr. Musa Aliyu (SAN), Wednesday narrated how one hospital project was paid for 100 percent by government officials, five times, without building the hospital.

He spoke at a media engagement with Northern media executives and Bureau Chiefs, in Abuja, this afternoon.

Dr. Aliyu said that the above case was only one of very many instances of the endemic corruption in the country and that it must not be allowed to continue, urging the media and well-meaning members of the Nigerian public to sign-unto the fight against the scourge.

His words, “There was a case of a hospital which was paid for 100 percent, five times. Yet, there was nothing to show for it. That tells you how bad the problem of corruption has become. We cannot continue like this.

“All of us should join hands to tackle corruption in this country. Fighting corruption is not easy because when you fight corruption, corruption fights back. Those involved in corruption are united in their evil. They try to lie against us in order to discredit what we are doing. But as a nation, all well-meaning members of the public must join hands to tackle corruption.

“We don’t have an option. If we don’t tackle corruption, our children will have no future. If we don’t fight corruption, those involved will wreck the economy and we will all suffer for it.”

Dr. Aliyu gave another instance of the corruption in the Ministries, Departments and Agencies (MDAs) where a government official listed his wife, son and an inlaw in the payroll.

He said the son was a mere student, far from working age.

The ICPC Chairman added that N20 billion which would have been taken by officials of another agency was blocked, last year, attesting to the commission’s strategy of proactive actions, to prevent frauds in the MDAs.

Huge assets abroad

Dr. Aliyu disclosed that huge assets stolen from the country and other African nations were kept abroad and that his team was collaborating with other anti-graft agencies within Nigeria and other African countries to trace and repatriate such assets.

Although the ICPC boss said he could not immediately put a figure to the assets, in property and cash, a forum of African anti-graft agencies has been formed to strengthen the efforts to identify and return such assets back home.

He criticized countries in the Global North, where such assets are held, for helping corrupt Africans to loot the continent, by providing them a safe haven for the proceeds of corruption.

Dr. Aliyu also condemned the practice by nationals of Global Northern countries where Nigeria’s assets and those of other African nations are kept for coming up with various obstacles to repatriating them, when traced.

Even when the authorities of those countries agree to release the assets, their nationals would come up with proposals to serve as consultants who must be paid huge commissions for any such repatriation to be effected.

The African Anti-Graft Forum, Dr. Aliyu revealed, has commenced actions towards encouraging African experts to team-up with and establish consortia, a view to tracing such assets and providing necessary assistance towards their repatriation.

Media role

The Chairman appealed to the Nigerian media to see anti-corruption as a duty, particularly given their commitment to enthroning a just, prosperous nation, adding that corruption must be dealt with for the nation to witness the socio-economic development of Nigerians’ dream.

His team, he revealed, has commenced intense budgetary analysis, as well as, tracking and had, in some cases, blocked provisions where it was obvious that public funds would be miss-used.

Answering a question on the disposal of properties recovered from corrupt public officials, Dr. Aliyu said that ICPC would constantly adhere to the Proceeds of Crime Act and that the commission had set up a committee of critical stakeholders, including Civil Society Organisations, the media, and government procurement experts to ensure a hitch-free, transparent public auctions of such assets.

The chairman advocated a review of the nation’s laws to make corruption less attractive, as according to him, in some jurisdictions, even in Africa, anyone found guilty of corruption would not benefit from it.

Instead such a person is made pay the amount involved 100 percent to public coffers, with interest and barred from holding public office for as much as 10 years.

He challenged the Nigerian public to stop eulogizing corrupt people, who indeed have been discovered to be the problem of the society.

Nigerian Police Chief Egbetokun Orders Immediate Retirement Of Officers Simon Lough, Igweh, Others Implicated In Forgery, Falsification, Bypassing Service Regulations

The Nigerian Inspector General of Police Kayode Egbetokun has ordered the immediate retirement of senior police officers who are either over 60 years old or have served for more than 35 years.

These include Simon Lough, SAN, the Head of the NPF Legal Section and Benneth Igweh, a former Federal Capital Territory Police Commissioner.

These police officers have been implicated in forgery, falsification, and bypassing service regulations.

The directive is disclosed in a letter dated February 1, 2025, signed by CP Bode Akinbamilowo, Deputy Force Secretary, on behalf of the Inspector General of Police, and addressed to the Deputy Inspectors-General of Police, Assistant Inspectors General of Police, Commandants of Police Staff Colleges at Jos and Kano, Commissioners of Police and Commandants of Police Colleges across the country.

The letter is titled ‘Re: Police Service Commission Decision At Its 1stt Extra Ordinary Meeting Of The 6thh Management Board On The Regularisation Of Date Of First Appointment Of Cadet ASPs/Inspectors Force Entrants.’

It reads, “Attached letter No. CH: 8400.IGP.SEC/ABJ/VOL.17/90 dates 31st January, 2025 with its attachments received from the Inspector General of Police, Force Headquarters Abuja in respect of the above underlined subject refers.

“I am to convey the directive of the Inspector General of Police that you ensure comprehensive implementation of the decision with emphasis on paragraphs 3 and 4 of the attachment letter under reference.”

The decision of the PSC refereed to in the letter was earlier communicated to the IGP in a letter dated January 31, 2025 and signed by Nnamani Onyemuche, Secretary to the PSC.

Paragraphs 3 and 4 to be given emphasis read: “Accordingly, the Commission at its 1st extraordinary meeting of the 6th Management Board held on Friday 31st January 2025 has approved the immediate retirement of those officers who have spent 35 years in service and those above 60 years of age.

“Any omission discovered subsequently on this issue also falls within this approval.”

Paragraph 5 reads: Please implement, inform the affected officers and make replacement for the vacancies thereafter immediately and forward to the commission for its consideration and approval.”

On the list of those who should have retired but still in service going by their dates of enlistment are: Simon Asamber Lough who should have retired on January 8, 2022 going by his date of enlistment.

FOLLOWING the infiltration of bandits, Boko Haram and ISWAP members in the South-West, monarchs in the zone say they have activated the traditional means of securing the zone.

The traditional rulers also vowed to ensure that the South West would not be a haven for bandits or insurgents.

We’re providing traditional support—Deji of Akure

When asked what steps the monarchs are taking to curb the rising insecurity and influx of bandits, the Chairman, Council of Chiefs in Ondo State, the Deji of Akureland, Oba Aladetoyinbo Aladelusi, said they are providing traditional support to address insecurity.

The monarch, who spoke through his Chief Press Secretary, Michael Adeleye said: “The influx of bandits into some parts of Southwest as raised by Governor Seyi Makinde of Oyo State is a pointer to the fact that the Military is seriously working and their efforts at flushing out bandits from the country is yielding the desired results.

“However, with the recent information of their possible influx into the southwest, let me say categorically that the South West cannot be a haven for any bandit group being displaced from far away north.

“The traditional institutions are working with the South-West Governors to ensure that our area is secured.

“On our part, we are reaching out to all our Olus and Chiefs in the forest reserve areas to look out for any strange faces and ensure that they do not allow their subjects or residents of their various communities from harbouring strange faces.

We’ve taken enough steps —Oba Faboro

Also speaking with Vanguard, the chairman, Ekiti State Council of Traditional Ruler. Oba Olori Faboro, said though Ekiti has been peaceful, the fear of invasion only exist in the social media.

Oba Faboro said: “We have taken enough steps, we have Amotekun here and about this time last year, the Governor set up the Agro Marshall, and they patrol our farms. The incident of kidnapping here is not the way it was before over a year ago.

“The police have been doing a fantastic job. All these social media news, I don’t subscribe to them.
”
Collaboration between govt and monarchs needed— Orangun of Oke-Ila

Stressing the need for constant collaboration between government and traditional rulers to tackle the menace, the Orangun of Oke-Ila, Oba Adedokun Abolarin, said: “We must all be vigilant. The Federal Government must be in constant dialogue with traditional rulers to check the menace. We are the ones in the rural areas, we know the terrain; we know the people”.

We’ve established community vigilance groups — Okere of Sakiland

The Okere of Sakiland, Oba Khalid Olabisi, equally said that steps are being taken to curb the influx of bandits and prevent the rise in insecurity in his domain, Oba Olabisi, in a telephone interview with Vanguard, said: “We have established community vigilance groups to monitor and report suspicious activities fostering a culture of awareness among residents.

“We are collaborating closely with local law enforcement and military units; we ensure effective communication and rapid response to threats.

We lack powers to check insecurity —Eselu of Iselu Kingdom

On his part, the Eselu of Iselu Kingdom in Yewa North local government area of Ogun State, Oba Akintunde Akinyemi said with the present Constitution operated in Nigeria, the traditional rulers do not have any power to check insecurity but urged the government to do the needful in securing their territory.

Oba Akinyemi said: “Due to the porosity of the nation’s border, the government must inform all the security agencies at the border to be on alert.”

The Governor’s Advisory Council of the All Progressives Congress, Lagos, has moved to resolve the controversy trailing the embattled former speaker of the Lagos State House of Assembly, Mudashiru Obasa, following his removal.

The indication emerged at the weekend after the GAC members held a crucial closed-door meeting at an undisclosed venue to forge a common front in resolving the matter.

GAC is the apex decision-making organ of APC, whose decisions are binding on members. The council is led by Pa Tajudeen Olusi, with Mr. President Bola Tinubu as lifetime Patron.

The GAC is made up of past Governors, deputy governors, senators, elders, leaders and chieftains of the party.

Some of the members are: Henry Ajomale, Bushura Alebiosu, Abiodun Ogunleye, Murphy Adetoro, James Odunmbaku, Anthony Adefuye, S. A. Seriki, Olorunfunmi Bashorun, Rabiu Oluwa, Muriano Taiwo, Mutiu Lawal Are, Yomi Finnih, Muyiwa Sosanya, Tunde Samuel, Adeyemi Ikuforiji, Rasak Lanre, Obasa, Babatunde Balogun, Wale Edun, Babatunde Fashola, Akinwunmi Ambode, Ranti Adebule, Senator Ganiu Solomon, Senator Musiliu Obanikoro, among few others.

APC chieftain, who spoke in confidence to Vanguard at the weekend, said:”The GAC members, based on the directive of Mr. President, Tinubu, have to step in to save the party from sliding into implosion.”

“I can tell you on good authority that there is no rancour or division among the GAC members.

“As I speak with you, several underhanded meetings are going on among the members to resolve the issue amicably. The GAC members are on the same page to settle the clash in a family affair manner.

“There are conflict resolution mechanisms in the party to handle such matters. Because it has become expedient to save the party from implosion from polarisation going by some statements already flying in public space within the party ranks,” the party chieftain affirmed.

Speaking on the plan to suspend Obasa and subject him to probe, he stated,” I don’t think that would happen. APC, as I told you earlier, has a conflict resolution mechanism that will handle it accordingly. That much I can say.”

Also, speaking on chances of Obasa dumping APC for the opposition party, “Again, I don’t see that happening going by Obasa’s pedigree as a die-hard progressive who believes in democratic principles and who has always been Asiwaju’s boy from the days of Social Democratic Party, SDP.

“Don’t forget, recently, upon his return from abroad, he publicly told his supporters to stay in APC as he has no plans to dump APC. And I want to believe him on that.”

However, strong indications emerged that Obasa might not achieve his aim of returning as a speaker at the end of the day but remain an ordinary member without intimidation or persecution.

Recall that Obasa was removed in absentia by 32 out of 40 members of the state House of Assembly on January 13, 2025, over alleged financial misappropriation, misconduct, and high-handedness, among other things. He was replaced by his erstwhile deputy Mojisola Lasbat Meranda as substantive speaker, leading to conflicting reactions among members of the GAC, party faithful, and the general public.

However, the divergent views among GAC members stemmed from two groups within the council, which includes members of the Justice Forum (JF) and the Mandate Movement (MM).

Some of the notable, influential members of MM are Obasa, Cardinal James Odumbaku, Adefuye, Senator Ganiyu Olarenwaju Solomon, the Chief of Staff to the Lagos State Governor, Mr. Tayo Ayinde, members of the state House of Assembly, and some chairmen of conference 57.

The JF members include Prince Olusi, as chairman, former Deputy Governor of Lagos State and Senior Special Assistant to the President on Sustainable Development Goals (SSAP-SDGs), Princess Adejoke Orelope-Adefulire, Former Minister of State for Defence, Senator Musiliu Obanikoro, the Deputy Governor of Lagos State, Dr. Obafemi Hamzat, the newly appointed state Coordinator for JF and member of the House of Representatives representing Ikeja Federal Constituency, James Faleke.

MM members in GAC support Obasa, while the JF members are indifferent about Obasa’s removal saga.

However, after Obasa’s removal, the unfolding events further polarised the ranks of GAC.

Some members of GAC had earlier disagreed over the process that led to the removal of Obasa.

In a recent statement, Muraina Taiwo, a member of the GAC from Isolo Constituency, faulted members of the assembly for reconvening during the house’s recess to remove Obasa.

The GAC members, Obanikoro and Adefuye, expressed divergent views over the embattled Obasa.

While Adefuye said Obasa was illegally removed, Obanikoro countered the latter, saying his statement “was careless.”

However, the GAC Secretary, Are, also said that “the brewing crisis in the Assembly is a family affair” and would be resolved in a family way.

Obanikoro, faulted a statement by Adefuye expressing support for Obasa.

Adefuye, said in a recent interview that he disagreed with the removal of Obasa.

“What he is saying is that he was illegally removed, and the procedure was faulty, and I agree with him,” the APC chieftain said.

Reacting to Adefuye’s interview, Obanikoro said the APC chieftain made the statement carelessly, adding that it was important to respect hierarchy in any organisation.

The former minister said, ” Senator Adefuye’s statement on the removal of the former Speaker, Mudashiru Obasa, is very unfortunate, childish and inconsequential.

“Senator Adefuye’s comment shouldn’t have come up; as leaders, if there are serious issues of this magnitude, rushing to make a press statement or personal statement on such matters is unbecoming of a statement.

“Since GAC as a unit has not made any pronouncement on the subject matter, it is irresponsible of any member of that privileged body to go public and comment on an issue as sensitive as that.

“Moreso, our leader, the President of the Federal Republic of Nigeria, waded in on the matter, so I believe nobody should come out individually to express an opinion based on privileged status.”

Family affair— GAC scribe

They called for calm, saying the matter would be resolved in a family way.

While reacting to the claim by Obasa that his removal was unconstitutional, Are said: “Whatever is currently going on in Lagos politics is a family affair. As an elder, I’m not supposed to take sides.

“We would resolve everything because the GAC, the apex advisory organ, has its mechanism for resolving matters like this.

“By my position as the secretary of the body, I’m not given an express permission to speak to the matter. But I can tell you we’ll resolve it in a family way.”

Taiwo hits lawmakers

A statement by Taiwo, titled: “My take on the ongoing imbroglio in the Lagos Assembly,” read in part, “The act of the lawmakers to reconvene during the recess is illegal.

“It shows total disregard and apparent disrespect for the party’s leadership.

“The GAC Leadership is split over the matter, but we will all defer to the final decision of our de facto leader, President Bola Ahmed Tinubu to resolve the crisis.”

My removal not constitutional-Obasa

Obasa has maintained that his removal as speaker was not constitutional, saying that due process was not followed.

Obasa spoke amid cheers from members of MM and politicians from some local governments in the state at the official residence of the Lagos Speaker in GRA, Ikeja.

The former speaker stressed that the lawmakers’ allegations against him could not be substantiated and that he is the most experienced lawmaker in the assembly, having been elected six times since 2003.

“I thank you for your support and dedication. I will take this advantage to debunk the allegations that were circulated and raised about me.

“I am not disturbed or perturbed, and I am not afraid. I will debunk all the allegations levelled against me by the house.

“I have not done anything wrong. I have been a lawmaker for over two decades, and I am the longest-serving lawmaker in the house,” he said.

The former speaker added that it was important that the due process ought to have been followed before his removal.

“I am not afraid of being removed, after all it is not my father’s chieftaincy title. I am representing my people, and they have returned me six times. If you want to do anything, do it well.

“They removed me all because I was out of the country. Lagos is a special place; we cannot denigrate the state.

“They should not discredit an innocent person; they should prove their allegations against me. The Lagos State House of Assembly is above the common standard of excellence.

“I believe in the image of our institution, we must not destroy it, and I will never partake in its destruction.

“I appreciate the members of the Governance Advisory Council (GAC) and Governor Babajide Olusola Sanwo-Olu of the state. He is my brother, and he always calls me his younger brother,” Obasa stated.

He also thanked the president’s wife, Oluremi Tinunu, and President Bola Tinubu, who he said would always be his father.

In the unfolding events, however, some lawmakers were detained last Thursday, January 30, by men of the Department of State Services, DSS, Lagos State Command, and later released.

The lawmakers who were taken for questioning by DSS over Obasa’s removal were released at about 8 p.m. after several hours of interrogation.

In a subsequent statement shortly after their release, Mr. Ogundipe Stephen, on behalf of the lawmakers, insisted that the removal of Obasa was legal.

According to Ogundipe: “All members of the assembly who were detained earlier have now regained their freedom.

“At the DSS office, we reaffirmed our commitment to upholding constitutional governance following the removal of the former speaker.

“The decision was made in accordance with the provisions of the 1999 Constitution of the Federal Republic of Nigeria and the Powers and Privileges Act, which empower the State Assembly to regulate its internal proceedings without external interference.

“Sections 92 and 96 outline the process for the election and removal of the speaker, and due process was followed in our decision.

“It is also in public knowledge that legislative autonomy was granted to State Assemblies, ensuring that elected representatives can conduct their business freely within the chambers assigned to them.

“The Lagos State House of Assembly, as an independent arm of government, has exercised its constitutional duty in the best interest of the people of Lagos.

“The decision to remove the former speaker was made through a democratic process, with the required majority as stipulated by law. Any attempt to challenge this lawful action undermines the authority granted to us by the Nigerian Constitution.

“We commend the professionalism of the DSS office in their friendly invitation. We appreciate the Lagos DSS Command, especially the Director, for ensuring a smooth and respectful engagement.

“The process allowed us to give a clear recount of events in a comfortable and professional environment.

“We reiterate our commitment to legislative duties that serve the interests of Lagosians, ensuring effective governance and the continued development of the state.

“We call on all stakeholders, including the executive arm and the public, to respect the sanctity of legislative proceedings and refrain from undue interference.”

Also, some civil society organisations and human rights groups have come out in defence or against Obasa.

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, says Nigerians condemn corruption yet rally behind corrupt leaders when they are being prosecuted.

Olukoyede said underdevelopment would be a thing of the past if every citizen sees corruption as a common enemy.

“Everybody is crying that Nigerians are corrupt, that the system is corrupt; that corruption is killing us and destroying our system,” he said while receiving officials of the Centre for Crisis Communication (CCC), led by Chris Olukolade, on Friday in Abuja.

According to Olukoyede, collaboration and synergy with the CCC will boost strategic communication and public engagement, adding that public support is crucial to the EFCC’s success.

He stated the EFCC will partner to raise public awareness on its activities and the importance of integrity among Nigerians.

“When we investigate high profile cases and arraign people in court, the same people will carry placards and be supporting corrupt leaders. It doesn’t show that we are serious about this fight. The fight is supposed to be a collaborative effort.

“No single agency can do it alone. It is practically impossible for us as EFCC to fight all the battles. The society has a role to play; policy has a role to play and the issue of welfare of the citizens has a role to play.”

The EFCC boss also spoke on the trajectory of his leadership, saying he has prioritised prevention over enforcement since coming on board.


Besides prevention, the EFCC boss identified the leveraging of intelligence gathering in the work of the Commission as being instrumental to some of the recent mind-blowing successes of the Commission.

“Now we are laying more emphasis on prevention which is a critical aspect of our mandate. We don’t have to always be waiting for money to be stolen before we start working in EFCC. To drive prevention, I established a new directorate called Fraud Risk Assessment and Control, FRAC and now we are doing more of blocking of the leakages.

“We have access to GIFMIS (government payment platform). We want to track and see where every money, released is going. We want to ensure that every capital project is executed. With prevention, we discovered that there will be less to enforce.

“We are not dropping our mandate on enforcement. As a matter of fact, we are scaling it up. But we believe that it is important for us to prevent because it costs less to prevent than to react when the deed must have been done. So that is one of our areas of focus as of now.”

The importation of Premium Motor Spirit (petrol) into Nigeria is on track to hit its lowest volume in eight years.

This significant shift is driven by the operations of the 650,000-barrel-per-day Dangote Petroleum Refinery, the country’s recently established mega-refinery, which is reducing the need for imports and bolstering Nigeria’s fuel sufficiency.

A report by Bloomberg on Wednesday, citing data from analytics firm Vortexa Ltd, revealed that petrol imports from foreign suppliers are significantly decreasing, boosting fuel self-sufficiency and marking a key step toward greater energy independence.

An analysis revealed that the highest monthly import volume occurred in November 2022, with over 420,000 barrels imported. In 2024, the country recorded its highest import in May, with 300,000 barrels.


The report also stated that shipments into the country between January 1-24, 2025, stood at about 110,000 barrels a day, representing an import of 17.49 million litres.

If that rate continues for the rest of the month, the country’s imports — most of which come from Europe — will hit their lowest since 2017.

Other sources are from the Middle East, Russia, Asia, and North America.


Reacting, Vortexa analyst Samantha Hartke stated that the development has forced oil traders in Northwest Europe to find alternative destinations for its gasoline supplies.

She said, “A large part of the slowdown in Nigeria’s gasoline imports is due to the ramp-up of the Dangote refinery. Northwest Europe will have to find alternative homes for its gasoline supplies.”

It also stated that stockpiles of gasoline held in independent storage in Amsterdam-Rotterdam-Antwerp — a key exporting hub for barrels to Nigeria — have meanwhile hit a record high, according to figures from Insights Global.

Dangote is bigger than any other refinery in Europe or Africa and has been touted as a way for Nigeria — long reliant on imports of gasoline — to become less dependent on foreign supplies.

However, the refinery has faced its fair share of challenges, starting from the efforts to source crude oil, which have been complicated by low local crude supply from the Nigerian National Petroleum Company Limited affecting its efforts to ramp up daily production.

The PUNCH reports that the Dangote Petroleum Refinery is importing more crude oil as supply from the NNPC becomes insufficient for fuel production at the $20bn Lekki-based facility.

The NNPC is reportedly struggling to supply 350,000bpd to the Dangote refinery from the 450,000bpd crude meant for Nigeria’s local consumption.


With its current production capacity of 500,000bpd, officials said there is a need to look beyond the shores of Nigeria for the feedstock.

It was said that the feedstock needed by the refinery daily cannot be solely supplied by the state-owned oil company, NNPC.

“About 12 million barrels of crude have departed the US and should arrive in Nigeria by February,” the Africa Report reported on Monday.

Recall that in July, President Tinubu ordered the NNPC to sell crude oil to local refineries in naira.

In October, the committee supervising the naira-for-crude deal commenced the sale of crude to only the Dangote refinery in naira, saying it would sell to only petrol-producing refineries.

However, with the Port Harcourt and Warri refineries coming on stream, more refineries would be considered for the naira-for-crude arrangement.

According to the crude oil production forecast of producing oil companies and the refining requirement of functional refineries in Nigeria signed by the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, the Dangote refinery would require 550,000 barrels of a blend of Nigerian crude oil daily, 17.05 million barrels monthly, and 99.55 million barrels between January and June 2025.


The Dangote refinery is already building eight more tanks to store imported crude. The facility is planning to stockpile imported crude oil as local supplies become unreliable.

Governor of the Central Bank of Nigeria, Olayemi Cardoso, on Wednesday, announced that the Federal Government has cleared the outstanding $7bn foreign exchange following a successful verification exercise by forensic auditors.

Cardoso disclosed this at the launch of Nigeria’s Regulatory Policy Framework organised by the Presidential Enabling Business Environment Council.

The event, which was tagged the regulators’ forum, took place at the State House Conference Hall in Abuja.

Cardoso explained that they are optimistic the clearance of the $7bn backlog would ease off the bottlenecks associated with repatriation of funds by businesses, multinationals and foreign investors.

According to the CBN governor, the outstanding forex clearance took far longer than they earlier anticipated.

He said, “In addressing foreign exchange liquidity constraint, decisive steps have been taken to clear outstanding $7bn forex backlog to ensure that businesses, multinationals, corporations and foreign investors can repatriate funds seamlessly

“This initiative has restored confidence among market participants and reinforced Nigeria’s commitment to honouring financial obligations in a timely and efficient manner. Talking about the $7bn backlog, we have cleared the verified claims.


“We also looked at the unverified ones, and I believe that we are at the final stages of separating what qualifies as fully verified, and we will surely be paying out those money that have been verified by the forensic auditors. It is unfortunate, to be honest, that it has taken so long.

“But the truth of the matter is that there were a lot of practices that went on that really should never have happened in the first place. That said, we are going to ensure that we do what we need to do to strengthen our market and create a better trust in what you investors naturally desire and deserve.”

Earlier in her address, PEBEC Director-General, Princess Zahrah Audu, explained that one of the key indicators for the commission was that the majority of the companies expected the government to provide them with a stable and predictable policy environment.

She said, “We are going to help you become a part of the formation of this policy because one of the things we actively encourage our MDAs to do is to have a sectoral stakeholder engagement in smaller groups. Now there is a more thorough process to go through before a policy is passed into law.

“It is very important to note that this administration will do things differently. We are constantly asking for your input because we don’t think we know it all. When you look at business from a government perspective, it is very different from looking at it from a private sector view.

“It is important that we always balance the two and see ourselves as stakeholders. Our doors will always be open, and we will be very responsive when it comes to calls and emails. As earlier said, my predecessor has left a viable platform for us to build on.”

The Lagos State Government has announced the signing of a Memorandum of Understanding (MoU) with the Federal Government to kickstart exploratory work on the 68-kilometer Green Line rail project.

The rail line will connect Marina to the Lekki Free Trade Zone, traversing key areas such as Victoria Island, Lekki, and Ajah.

The announcement was made by the Lagos State Commissioner for Information and Strategy, Mr. Gbenga Omotoso, during a Citizen/Media Stakeholders Forum organized by the Ministry on Monday.

He disclosed that the agreement was signed with the Federal Government’s Ministry of Finance Incorporated (MOFI), as detailed in a statement posted on the official Facebook page of the Lagos State Government.

“The Lagos State Government has said it has signed an MoU with the Federal Government’s Ministry of Finance Incorporated (MOFI) to kickstart exploratory work on the development of the Green Line project,” the statement read in part.

The Green Line rail project is expected to enhance connectivity and support economic activities along one of Africa’s fastest-growing industrial corridors, contributing significantly to the state’s infrastructure and development.

What you should know

The 68-kilometre Green Line, planned to connect the Lekki Free Trade Zone to Marina, is a pivotal element of the Lagos Strategic Transport Master Plan. This comprehensive initiative aims to establish a metro rail system with six Light Rail Transit (LRT) lines to enhance connectivity and ease traffic congestion across Lagos.

Significant progress has already been made on two of the proposed LRT lines, with passenger operations already active on the first phases of the Blue Line and the Red Line. The first phase of the Blue Line, spanning 13 kilometers from Marina to Mile 2, commenced operations in September 2023.

The Green Line rail project is expected to enhance connectivity and support economic activities along one of Africa’s fastest-growing industrial corridors, contributing significantly to the state’s infrastructure and development.

Similarly, the initial phase of the Red Line, covering 27 kilometers of its planned 37-kilometer route from Agbado in Ogun State to Oyingbo in Lagos, began operations in 2024. This phase of the Red Line includes eight strategically located stations: Agbado, Iju, Agege, Ikeja, Oshodi, Mushin, Yaba, and Oyingbo.

Construction is actively ongoing on the second phases of both the Blue and Red Lines, highlighting Lagos State’s commitment to expanding its rail infrastructure and meeting the transportation needs of its growing population.

A Nairametrics review of the 2025 Federal Government’s Final Budget Proposal revealed that the Federal Government allocated N146.14 billion as counterpart funding for the Lagos Green Line Metro Rail Project.

According to the budget document, the funding will be transferred to the Ministry of Finance Incorporated (MOFI), which will manage the counterpart funding on behalf of the Ministry of Transport for the project’s development.
This allocation is part of the proposed N49.74 trillion budget for the 2025 fiscal year and falls under the Ministry of Transport’s budgetary provisions.

In September 2024, Nairametrics reported that the Lagos State Government formalized an agreement with MOFI and China Harbour Engineering Company (CHEC) for the Green Line’s development.

Under this agreement, MOFI and CHEC will oversee the design, financing, and operation of the project, which is seen as a transformative step toward modernizing Lagos’ public transportation system and boosting economic activity in the region.

Some members of the All Progressives Congress in Lagos State have expressed dissatisfaction with the election of Mojisola Meranda as Speaker of the Lagos State House of Assembly, following the removal of Mudashiru Obasa over allegations of misconduct and financial misappropriation.

Meranda, formerly the Deputy Speaker, was elected Speaker on January 13, 2025, after lawmakers voted to oust Obasa, who has denied the allegations.

A faction within the party representing Lagos West, Progressives Alliance, criticised the decision to shift the Speakership to Lagos Central, calling it an act of “injustice” against Lagos West, which they noted accounts for half of the Assembly’s 40 lawmakers.

This was contained in a statement by the group’s secretary, Segun Banjo, and made available to newsmen on Monday.

Obasa absent as Meranda presides over first sitting
Opposition demands impeached Lagos speaker’s probe, GAC meets Assembly leaders
Banjo said, “We have no issue with Obasa’s removal. Our concern is that the lawmakers, in electing Meranda as the new Speaker, were not well guided.

“It is appalling and disturbing that they passed over all the eminently qualified 20 lawmakers from our zone, which has the largest electoral asset in terms of votes and membership of the APC, and handed it over to Lagos Central, where Governor Babajide Sanwo-Olu also comes from.

“It’s nowhere in the House’s rule book that if a Speaker is removed, his replacement must be his deputy. Furthermore, examples of political correctness guided by fair distribution of political offices that address both religious and sectional interests abound in the political space in Nigeria.”


The statement also criticised members of the Governor’s Advisory Council from Lagos West for failing to secure the Speakership for the zone, saying, “In any case, we leave them to posterity to judge them.”