General
Stanbic IBTC Targets 5% Growth in Home Ownership
By Adedapo Adesanya
Top Nigerian financial institution, Stanbic IBTC Bank, is targeting to raise home ownership from less than 1 per cent in the country to 5 per cent in the next few years.
This was disclosed by the chief executive of the bank, Mr Wole Adeniyi, during his welcome address at the Stanbic IBTC Home Ownership 2.0 in Lagos on Tuesday.
According to Mr Adeniyi, Nigeria is at a critical junction that makes home ownership easily affordable and accessible, with the lender at the forefront.
“We are going to raise it to 5 per cent,” he said at the event.
“Now is the best time and here is where we come in at Stanbic IBTC,” he added.
For him, better economic indices point to the need for Nigeria to take home ownership seriously.
Citing the recent Moody’s report, he said Nigeria is on the accurate path of recovery under the administration of President Bola Tinubu.
Recall that the ratings agency over the weekend revised Nigeria’s outlook to “stable” from “positive”, as it expects recent progress on external and fiscal fronts to continue, though at a slower pace.
According to the Stanbic IBTC chief, this development points to the fact that the Nigerian president is making do on his campaign promises to carry out reforms.
“What he said he will do during his campaign, he has done it…”
He also noted that World Bank has shown optimism in Nigeria’s economy and expects that the International Monetary Fund (IMF) outlook due later this month will provide futher evidence.
Mr Adeniyi also noted that real estate remains a growing sector and believes that it will contribute more to Nigeria’s gross domestic product.
He explained that Stanbic IBTC has also keyed into the Nigerian government housing scheme including the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) towards bridging the country’s housing finance gap.
He added that Stanbic IBTC was working with other credit guarantee schemes to further drive home ownership across the country.
General
Lagos Seals Radio Station, Others for Noise Pollution
By Aduragbemi Omiyale
A radio station, Wise FM, has been sealed by officials of the Lagos State Environmental Protection Agency (LASEPA).
The premises of the broadcast media platform, located on Ogabi Street, Meiran, Ile-Iwe Bus Stop, were shut by the state government on Tuesday, June 23, 2026, alongside other establishments across different parts of Lagos State for alleged persistent violations of environmental regulations despite repeated warnings, abatement notices, and opportunities provided for compliance.
In a statement by LASEPA, it was disclosed that the enforcement exercise was carried out in response to various environmental infractions, including noise pollution, air pollution, obstruction of official duties, and failure to comply with its directives.
As regards Wise FM, it was said that it was sealed for noise and air pollution as well as non-compliance with the Agency’s directives.
Another organisation affected, Star-View Terrace, located in Amuwo Odofin, Lagos, was shut down for noise pollution and non-compliance with the agency’s directives, while Premiership Suites, located at Akin Osiyemi Street, Off Allen Avenue, Ikeja, was sealed for non-compliance with the agency’s directives.
Speaking on the enforcement operation, the General Manager of LASEPA, Mr Babatunde Ajayi, reiterated the organisation’s unwavering commitment to safeguarding public health and ensuring a cleaner, safer, and more sustainable environment across Lagos State.
He stressed that both individuals and corporate organisations have a responsibility to comply with environmental laws and regulations, stressing that environmental protection remains a collective duty that requires the cooperation of all stakeholders.
The LASEPA boss warned that the agency would continue to intensify enforcement actions against violators in order to curb environmental nuisances and protect residents from the harmful effects of pollution.
Mr Ajayi urged residents, business owners, and operators of commercial establishments to adopt environmentally responsible practices and cooperate with regulatory authorities in promoting a healthier, cleaner, and more livable Lagos.
General
LPPC Temporarily Strips Mike Ozekhome of SAN Title
By Aduragbemi Omiyale
Renowned legal practitioner, Mr Mike Ozekhome, has been directed to desist from using the prestigious title of the Senior Advocate of Nigeria (SAN) for now pending the outcome of disciplinary proceedings against him.
He is being investigated by the Legal Practitioners’ Privileges Committee (LPPC), a body which looks into complaints against lawyers in Nigeria.
Announcing the suspension of the prominent lawyer’s SAN rank on Thursday, the Chief Registrar of the Supreme Court, Mr Kabir Akanbi, said the disciplinary action was taken at the committee’s 173rd general meeting on Tuesday, June 23, 2026.
Mr Akanbi, who doubles as the Secretary of the LPPC, stated in the statement that the temporary ban is intended to safeguard the integrity, dignity, and prestige of the SAN rank while the matters under review are being considered.
It was explained that the suspension was pursuant to Paragraph 26(6) of the Guidelines for the Conferment of the Rank of Senior Advocate of Nigeria and all Matters Pertaining to the Rank, adding that it is tied to disciplinary proceedings currently before the Disciplinary and Ethics Sub-Committee of the LPPC and other related proceedings.
“The LPPC remains committed to upholding the highest standards of professional ethics, integrity, and discipline within the legal profession and to ensuring that the Rank of Senior Advocate of Nigeria continues to command public confidence and respect,” a part of the notice disclosed.
It stressed that, “Mike Ozekhome shall refrain from parading himself, presenting himself, or otherwise holding himself out as a Senior Advocate of Nigeria pending the final determination of the disciplinary proceedings.”
The title of Senior Advocate of Nigeria (SAN) is the highest honour bestowed upon legal practitioners in the country, recognising excellence and long-standing contributions to the legal profession. The LPPC is the statutory body empowered to award and withdraw the rank.
Mr Ozekhome is one of Nigeria’s famous constitutional lawyers, human rights activists, and public commentators, but lately, his name was mentioned in an alleged forgery in the United Kingdom.
General
Senate Passes State Police Bill
By Aduragbemi Omiyale
The bill seeking to establish state police in Nigeria was on Wednesday, June 24, 2026, passed by the Senate during a plenary presided over by the Senate President, Mr Godswill Akpabio.
The piece of legislation was passed today after more than two-thirds of the lawmakers in the red chamber of the National Assembly voted in support via a manual voting process involving the raising of hands.
Before the passage at the plenary, the chairman of the Senate Committee on the Review of the Constitution, Mr Barau Jibrin, presented the panel’s report to his colleagues.
According to him, the bill will transform policing in the country and boost security, as it allows the sub-nationals to create their own policing system.
The bill provides for the Federal Police Service to be headed by the Inspector-General of Police, while the State Police Service will be led by a Commissioner of Police, who will be appointed by the governor of the state, subject to confirmation by the state’s House of Assembly.
To prevent the misuse of state police against political opponents or critics, ensuring that any action taken against such individuals or groups complies with due process and existing laws, the bill prohibits the Commissioner of Police of a state from arresting, detaining, investigating, or deploying force against any critic of the state governor, except in accordance with the law.
After the clauses of the bill were considered at the Committee of the Whole, the bill was passed and will be transmitted to the President for assent into law.
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