General
Lagos Assembly Screens Six Governor’s Nominees
By Dipo Olowookere
Six nominees of Lagos State Governor, Mr Akinwunmi Ambode, for both the Lagos State Public Procurement Agency and the State Teaching Service Commission (TESCOM) have undergone screening. The exercise was conducted on Tuesday by the Lagos State House of Assembly.
Nominated and screened for the position of General Manager, Lagos State Public Procurement Commission was Mr Onafowote Fatai Idowu, who was born on January 16, 1957.
He attended University of Ibadan and studied agriculture, biochemistry and nutrition. And started working at the Lagos State Agriculture Development Project. He later became Programme Secretary, State Food Security Programme
Mr Idowu also supported Lagos State Public Procurement as a Technical Adviser and he has been acting as General Manager of the commission since May 2016. He is a certified procurement manager, who has worked under World Bank project in the sector.
Speaking during his screening, the General Manager-designate agreed that insurance bond is important for procurement, adding that the fund given to any contractor ought to be protected.
“They could get bond from banks or insurance companies. I support the ongoing reform in the House of Assembly on public procurement.
“Initial payment for contracts could be between 20 and 40%. It could be low for projects that involved a lot of money. Financial capability is part of consideration. 20% could be low, but it should range between 20 and 40%,” he said.
Mr Idowu added that he started acting as the GM of the commission as a child of circumstance, when the immediate past General Manager resigned.
Also yesterday, the House also screened nominees for the Lagos State Teaching Service Commission (TESCOM).
Nominated and screened for the position of the Chairman of the board of TESCOM was Mrs Elizabeth Olabisi Ariyo, who was born in 1956, and attended United Missionary College, where she obtained a Grade 2 Teachers Certificate and taught in Ilesha, Osun State.
She also went to the University of Lagos from 1982 to 1986 to study English Language and thereafter started working with the Lagos State School of Basic Studies in 1986, and later worked as an inspector, planning officer and state Primary Education Board.
Mrs Ariyo became a Permanent Secretary in 2015 and retired in 2016.
On pension, she said that she will monitor payment of pension of teachers, adding that there is presently no central body. It
Also screened to be a member of the commission was Mr Jacob Mahonu Ashaka, who was born in 1958 in Topo, Badagry.
In 1976, he proceeded to Government Teachers Training College, Badagry for Grade 2 Certificate and was employed as a teacher.
In 1981, he went to Lagos State College of Education and graduated in 1984. He went back to teaching in 1985 after his NYSC Programme.
He worked at Agboju Secondary School for nine years. He later gained admission to the Lagos State University for first degree and went back for Masters Degree programme in Education Science and Administration in 2001.
Another nominee screened for TESCOM was Mrs Sidikat Titilayo Smith, who was born in 1954 and attended the University of Lagos, where she studied Biology Education. She was also cleared by the House for the position.
Mr Adeleke Oluwaseun Kara was also screened to be a member of TESCOM. He went to the Federal College of Education, Okenne, and later taught at Teachers College, Ikorodu before going to the University of Ibadan to study Guidance and Counselling.
The fifth nominee screened for TESCOM was Mrs Hadijat Hassan Kuburat, who was born in 1965 and attended Lagos State University, where she studied Political Science and later got Masters degree and is undergoing Phd Programme at the University of Ilorin.
Meanwhile, a Bill for a Law to amend the Lagos State Neighbourhood Safety Corps (2016) was read for the second time.
Chairman, House Committee on Judiciary, Public Petitions, and Human Rights, Mr Tunde Buraimoh, stated that the bill needs overhauling and that the citizens must be made to know the importance of security.
He said that the House has a responsibility to ensure that the agency works well and made to achieve its aim.
The Majority Leader, Mr Sanai Agunbiade also added his voice to the need to review the bill, which he said considered the issue of vigilante.
He said that members of the corps have power to conduct search or to arrest any erring member of the public.
Mr Rotimi Olowo (Shomolu Constituency 1) and Mr Yishawu Gbolahan Yishawu (Eti Osa 2) also spoke on the matter, while the bill was later committed to the House Committee on Information, Publicity and Strategy, headed by Mrs Adefunmilayo Tejuosho. The committee was ordered to report back to the House in two weeks.
By Adedapo Adesanya
The federal government has issued a data protection compliance circular to all Ministries, Departments and Agencies (MDAs) to promote public trust through data-driven governance.
The compliance directive is contained in Circular No. 59805/S.I/74, dated 27 July 2026, and signed by the Secretary to the Government of the Federation, Mr George Akume, according to a statement by the Head, Legal, Enforcement & Regulations, Mr Babatunde Bamigboye.
The initiative forms part of a continuum of regulatory measures that will be vigorously pursued as Nigeria advances towards the decisive frontiers of the Fourth Industrial Revolution.
The circular drew the attention of MDAs to a statement of President Bola Tinubu, where he said: “Data is the new oil”.
Mr Akume then directed all Ministries, Extra-Ministerial Departments and Agencies to capture the information rigorously and safeguard it under the Nigeria Data Protection Act, 2023 (NDP Act).
The circular also directed MDAs to ensure full compliance with the NDP Act, Regulations, Guidelines, and Directives issued by the Nigeria Data Protection Commission (NDPC) in relation to the processing of personal data.
To this end, the Circular directs MDAs to, designate suitably qualified officers as Data Protection Officers (DPOs) to oversee data protection compliance and advise management on all matters relating to the lawful processing of personal data, ensure that the names and contact details of their designated DPOs are communicated to the NDPC for registration and official records; engage licensed Data Protection Compliance Organisations (DPCOs), where required, to facilitate compliance with the NDP Act and support the conduct of statutory compliance audits.
It also directed them to provide adequate budgetary allocation for data protection compliance activities, including capacity building, awareness programmes, deployment of appropriate technical safeguards, and periodic compliance audits; and submit all mandatory Data Protection Compliance Audit Returns and other statutory returns to the NDPC within the timelines prescribed by law.
The circular further states that “Permanent Secretaries, Accounting Officers and Chief Executive Officers of all MDAs shall be personally responsible for ensuring institutional compliance with the Circular and the provisions of the NDP Act.”
The National Commissioner/Chief Executive Officer of the NDPC, Mr Vincent Olatunji, expressed the commission’s commitment to supporting data-driven governance.
Mr Olatunji maintained that data accountability is pivotal to achieving the eight Presidential Priorities. To provide full technical support to MDAs for the purpose of achieving compliance, the commission has constituted a regulatory clinic.
By Adedapo Adesanya
Yellow Card, a global stablecoin infrastructure provider, has raised $40 million in a strategic funding round to accelerate its international expansion and strengthen its digital payment infrastructure.
The funding round attracted investments from SC Ventures, the innovation and investment arm of Standard Chartered, Sony Innovation Fund, Polychain Capital, Blockchain Capital, and other strategic investors. With the latest raise, Yellow Card’s total equity financing has now exceeded $120 million.
The company said the fresh capital will be used to scale its Global US Dollar Accounts, an end-to-end dollar account designed for businesses, while expanding the stablecoin payment rails that connect businesses to markets around the world.
Yellow Card’s chief executive, Mr Chris Maurice, described the investment as a strong endorsement of the company’s long-term vision, noting that the company has spent years building infrastructure that allows businesses to move money globally without relying on traditional correspondent banking systems.
He added that the next phase of growth will focus on helping banks connect directly to stablecoin payment rails, enabling faster and more efficient cross-border transactions while expanding access to US Dollar services for businesses.
SC Ventures chief executive, Mr Alex Manson, said stablecoins are becoming an important part of global payments, but noted that widespread adoption will depend on reliable infrastructure and practical use cases.
He said Yellow Card has built the payment rails businesses across Africa need to move money efficiently across borders and expressed confidence in the company’s ability to expand both within Africa and internationally.
The investment also marks growing interest from global institutions in stablecoin-based payments. Sony Innovation Fund said its backing reflects confidence in Yellow Card’s ability to build digital payment infrastructure for emerging markets.
Mr Austin Noronha, Managing Director at Sony Ventures-US, said the company believes Yellow Card is creating the technology needed to help banks, financial technology firms and enterprises move money faster and more securely.
He added that the company looks forward to supporting Yellow Card as it expands beyond Africa into Latin America, the Middle East, Europe and the Asia-Pacific region.
Yellow Card said the funding will also support the wider rollout of its Global USD Accounts, which allow businesses to hold U.S. dollars, manage treasury operations, swap stablecoins, and collect or make payments in local currencies across more than 50 countries.
The company noted that the platform is already being used by major customers, including Visa and Western Union.
Founded to simplify cross-border payments through digital assets, Yellow Card has processed more than $10 billion in transactions across its network. The company supports over 50 currencies and holds licences, authorisations and registrations in 22 jurisdictions across North America, Europe and Africa.
Yellow Card has also established strategic partnerships with global payment companies including Visa, Mastercard, PayPal and Coinbase as it positions itself as a key infrastructure provider for international digital payments.
By Adedapo Adesanya
The National Economic Council (NEC) has approved a $4.5 billion arrangement for the Nigerian National Petroleum Company (NNPC) Limited aimed at strengthening the country’s external reserves and freeing up funds for infrastructure.
This is part of the refinancing of the $3.3 billion Project Gazelle Pre-Export Finance Facility through a new $4.5 billion facility named “Project Gazelle 2”.
The approval allows NNPC Limited to refinance the outstanding balance of approximately $1.5 billion under the original 2023 facility, while unlocking an additional $3 billion in liquidity to strengthen the country’s external reserves and support ongoing fiscal and infrastructure priorities of the government.
NEC’s approval followed a presentation by the Minister of Finance, Mr Taiwo Oyedele, which was presented by the Chairman of the Council, Vice President Kashim Shettima, underscoring the importance of the project.
NEC observed the significance of unlocking additional liquidity to the federation, among other benefits, pledging its support for the actualisation of the initiative.
The Finance Minister explained that the refinancing has been structured on more favourable terms than the original facility, including a reduction in the volume of pledged crude oil from 90,000 barrels of oil per day to approximately 78,750 barrels of oil per day – a 12.5 per cent reduction.
He noted that under the new arrangement, an additional 11,250 barrels of oil per day for the federation will be released, while there will be a reduction in the pledged crude volumes by the state oil company.
Mr Oyedele added that while accessing additional liquidity on improved terms, the arrangement is freeing up resources for strategic national priorities while strengthening the country’s financing structures.
“The arrangement is freeing up resources for strategic national priorities while strengthening the country’s financing structures,” he said.
VP Shettima called for a responsive, scalable, and data-driven social protection policy to tackle multidimensional poverty in Nigeria.
According to Mr Shettima, government policies are often heard before they are seen, speak through the price of food, condition of hospitals, records in schools, strain on families, the confidence of those who invest their labour in the nation’s future, and, very importantly, the ambitions of state governments.
He implored members of Council to ensure that every decision they make assure the citizens “that their government is paying attention to the pulse of the nation and is resolved to respond with competence, compassion and purpose.”
